SavMobi Technology Inc. Files 10-Q for Period Ending November 30, 2023

TL;DR

<b>SavMobi Technology Inc. has filed its quarterly report (10-Q) for the period ending November 30, 2023.</b>

AI Summary

SavMobi Technology Inc. (SVMB) filed a Quarterly Report (10-Q) with the SEC on January 16, 2024. SavMobi Technology Inc. filed a 10-Q for the period ending November 30, 2023. The filing covers the second quarter of the fiscal year. The company's fiscal year ends on May 31. SavMobi Technology Inc. is incorporated in Nevada. The company's business and mailing address is in San Jose, California.

Why It Matters

For investors and stakeholders tracking SavMobi Technology Inc., this filing contains several important signals. This filing provides investors with an update on the company's financial performance and operational status for the second quarter. Understanding the details within this 10-Q is crucial for assessing SavMobi's current financial health and future prospects.

Risk Assessment

Risk Level: low — SavMobi Technology Inc. shows low risk based on this filing. The filing is a standard 10-Q, providing routine financial disclosures without immediate red flags.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand SavMobi's performance and outlook.

Key Numbers

• 2023-11-30 — Period End Date (Quarterly report period)
• 2024-01-16 — Filing Date (Date the report was filed)
• 0531 — Fiscal Year End (Company's fiscal year end month and day)

Key Players & Entities

• SavMobi Technology Inc. (company) — Filer name
• 2023-11-30 (date) — Period of report
• 2024-01-16 (date) — Filed as of date
• NV (jurisdiction) — State of incorporation
• San Jose, CA (location) — Business address city and state
• 7372 (industry_code) — Standard Industrial Classification code

FAQ

Industry Context

SavMobi Technology Inc. operates in the prepackaged software industry (SIC 7372).

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring regular disclosures from public companies.

What Investors Should Do

1. Analyze the financial statements (balance sheet, income statement, cash flow) for the quarter ended November 30, 2023.
2. Review the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' section for insights into performance drivers.
3. Check for any new risk factors or updates to existing ones disclosed in the filing.

Key Dates

• 2023-11-30: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-01-16: Filing Date — Date SavMobi Technology Inc. submitted the 10-Q to the SEC.

Year-Over-Year Comparison

This is the 10-Q filing for the period ending November 30, 2023. Specific comparative data from the previous filing is not detailed in the header information.

Key Financial Figures

• $0.001 — nge On Which Registered Common Stock, $0.001 par value per share N/A Indicate by

Filing Documents

• form10-q.htm (10-Q) — 850KB
• ex31-1.htm (EX-31.1) — 17KB
• ex31-2.htm (EX-31.2) — 17KB
• ex32-1.htm (EX-32.1) — 6KB
• ex32-2.htm (EX-32.2) — 6KB
• form10-q_001.jpg (GRAPHIC) — 31KB
• 0001493152-24-002374.txt (&nbsp;) — 5497KB
• svmb-20231130.xsd (EX-101.SCH) — 50KB
• svmb-20231130_cal.xml (EX-101.CAL) — 75KB
• svmb-20231130_def.xml (EX-101.DEF) — 159KB
• svmb-20231130_lab.xml (EX-101.LAB) — 323KB
• svmb-20231130_pre.xml (EX-101.PRE) — 281KB
• form10-q_htm.xml (XML) — 872KB

Notes to Financial Statements (Unaudited)

Notes to Financial Statements (Unaudited) 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 29 Item 4.

Controls and Procedures

Controls and Procedures 29

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 29 Item 1A

Risk Factors

Risk Factors 29 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29 Item 3. Defaults Upon Senior Securities 29 Item 4. Mine Safety Disclosures 29 Item 5. Other Information 29 Item 6. Exhibits 29 2 SAVMOBI TECHNOLIGY, INC. AND SUBSIDIARIES CONDENSED CONLIDATED BALANCE SHEETS November 30, 2023 (Unaudited) May 31, 2023 (Audited) $ $ Assets Current assets Cash and cash equivalents 61,381 483,705 Restricted cash 1,370 10,273 Accounts receivable 449,446 409,380 Inventories 206,787 177,034 Amount due from related parties 16,000 16,000 Prepaid expenses and other current assets 2,672,554 2,021,604 Total current assets 3,407,538 3,117,996 Non-current assets Plant and equipment, net 6,229,645 6,581,823 Intangible assets, net 14,487 15,543 Right-of-use assets 122,621 277,184 Other non-current assets 2,646,268 2,884,090 Total non-current assets 9,013,021 9,758,640 Total Assets 12,420,559 12,876,636 Liabilities and Stockholders' (Deficit) Equity Current liabilities Short-term loan 1,401,345 - Accounts payables 900,698 775,293 Advances from customers 4,126,950 622,069 Other current payables 1,608,082 1,301,624 Taxes payable 25,872 18,737 Amounts due to related parties 1,619,070 1,057,721 Operating lease liabilities, current 85,663 126,659 Total current liabilities 9,767,680 3,902,103 Non-current liabilities Long-term loan 29,118,893 32,740,623 Operating lease liabilities 25,759 121,555 Total non-current liabilities 29,144,652 32,862,178 Total Liabilities 38,912,332 36,764,281 Stockholders' (Deficit) Equity Common stock ($ 0.001 par value, 10,000,000,000 shares authorized, 1,061,900,000 share issued and outstanding as of November 30, 2023 and May 31, 2023, respectively) 1,061,900 1,061,900 Additional paid-in capital 8,474,336 8,474,336 Accumulated deficit ( 35,364,940 ) ( 32,751,349 ) Accumulated

View Full Filing

View this 10-Q filing on SEC EDGAR