Treasure Global Inc. Files 2024 10-K Annual Report

TL;DR

TREASURE GLOBAL INC. FILED ITS 2024 10-K. CHECK FINANCIALS.

AI Summary

Treasure Global Inc. filed its 10-K for the fiscal year ended June 30, 2024, reporting from its New York headquarters. The company, incorporated in Delaware, operates in the business services sector. This filing provides a comprehensive overview of its financial performance and operational status for the year.

Why It Matters

This 10-K filing provides investors and stakeholders with a detailed look into Treasure Global Inc.'s financial health and strategic direction for the fiscal year ending June 30, 2024.

Risk Assessment

Risk Level: medium — As a publicly traded company, Treasure Global Inc. is subject to market fluctuations and regulatory scrutiny, inherent risks for all 10-K filers.

Key Numbers

• 0630 — Fiscal Year End (Indicates the end of the reporting period for the 10-K.)
• 001-41476 — SEC File Number (Unique identifier for the company's filings with the SEC.)

Key Players & Entities

• TREASURE GLOBAL INC (company) — Registrant
• June 30, 2024 (date) — Fiscal Year End
• 001-41476 (dollar_amount) — Commission File Number
• 276 5TH AVENUE, SUITE 704 #739, NEW YORK, NY 10001 (company) — Business Address
• Delaware (company) — State of Incorporation

FAQ

Key Financial Figures

• $0.00001 — ich registered Common Stock, par value $0.00001 per share TGL The Nasdaq Stock Market L
• $1.71 — ased upon the reported closing price of $1.71 on The Nasdaq Capital Market on that da
• $1,092,071 — nitial Trigger Payment in the amount of $1,092,071 and (ii) an additional payment in the a
• $500,000 — an additional payment in the amount of $500,000 (of which $467,289.72 was applied as an
• $467,289.72 — ent in the amount of $500,000 (of which $467,289.72 was applied as an additional reduction
• $32,710.28 — mount of the Convertible Debentures and $32,710.28 paid the associated 7% Redemption Premi
• $1.00 — Company at a price per share less than $1.00. The limitation agreed by YA shall not
• $563,000 — re") in exchange for the issuance of USD$563,000 worth of our common stock, par value $0
• $0.1913 — share, or 2,943,021 shares valued at USD$0.1913 per share. The License Agreement is for
• $321,562.08 — s") in exchange for the cancellation of $321,562.08 in aggregate indebtedness owed to the C
• $2,102,909.59 — uant to which the Company agreed to pay $2,102,909.59 to YA, which represents payment in full
• $208.22 — ber 28, 2023, plus per diem interest of $208.22 for each day after November 28, 2023, p
• $5,500,000.00 — ") in the aggregate principal amount of $5,500,000.00 in a private placement for a purchase p
• $1,000,000 — platform and design in exchange for USD$1,000,000 worth of common stock, par value $0.000
• $0.10 — any, or 10,000,000 shares valued at USD $0.10 per share (the "TGL Shares"). The Agree

Filing Documents

• ea0215470-10k_treasure.htm (10-K) — 1598KB
• ea021547001ex31-1_treasure.htm (EX-31.1) — 10KB
• ea021547001ex31-2_treasure.htm (EX-31.2) — 10KB
• ea021547001ex32-1_treasure.htm (EX-32.1) — 4KB
• ea021547001ex32-2_treasure.htm (EX-32.2) — 4KB
• image_001.jpg (GRAPHIC) — 2KB
• image_002.jpg (GRAPHIC) — 26KB
• image_003.jpg (GRAPHIC) — 196KB
• image_004.jpg (GRAPHIC) — 9KB
• image_005.jpg (GRAPHIC) — 16KB
• image_006.jpg (GRAPHIC) — 21KB
• image_007.jpg (GRAPHIC) — 33KB
• image_008.jpg (GRAPHIC) — 25KB
• image_009.jpg (GRAPHIC) — 145KB
• image_010.jpg (GRAPHIC) — 29KB
• fin_001.jpg (GRAPHIC) — 7KB
• fin_002.jpg (GRAPHIC) — 4KB
• 0001213900-24-083395.txt ( ) — 10597KB
• tgl-20240630.xsd (EX-101.SCH) — 93KB
• tgl-20240630_cal.xml (EX-101.CAL) — 64KB
• tgl-20240630_def.xml (EX-101.DEF) — 419KB
• tgl-20240630_lab.xml (EX-101.LAB) — 803KB
• tgl-20240630_pre.xml (EX-101.PRE) — 434KB
• ea0215470-10k_treasure_htm.xml (XML) — 997KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 20 Item 1B. Unresolved Staff Comments 37 Item 2.

Properties

Properties 37 Item 3.

Legal Proceedings

Legal Proceedings 37 Item 4. Mine Safety Disclosures 37 PART II 38 Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 38 Item 6. [Reserved] 39 Item 7.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 39 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 52 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data F-1 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 53 Item 9A.

Controls and Procedures

Controls and Procedures 53 Item 9B. Other Information 54 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 54 PART III 55 Item 10. Directors, Executive Officers and Corporate Governance 55 Item 11.

Executive Compensation

Executive Compensation 60 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 62 Item 13. Certain Relationships and Related Transactions, and Director Independence 62 Item 14. Principal Accounting Fees and Services 63 PART IV 64 Item 15. Exhibits, Financial Statement Schedules 64 Item 16. Form 10-K Summary 65 i SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K (this "Annual Report") contains "forward-looking statements." Forward-looking statements reflect the current view about future events. When used in this Annual Report, the words "anticipate," "believe," "estimate," "expect," "future," "intend," "plan," or the negative of these terms and similar expressions, as they relate to us or our management, identify forward-looking statements. Such statements, include, but are not limited to, statements contained in this Annual Report relating to our business strategy, our future operating results and liquidity and capital resources outlook. Forward-looking forward — looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance. We caution you therefore against relying on any of these forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking Our ability to effectively operate our business segments; Our ability to manage our research, development, expansion, growth and operating expenses; Our ability to evaluate and measure our business, prospects and perf

Business

Business Our Mission Our mission is to bring together the worlds of online e-commerce and offline physical retailers; widening consumer choice and rewarding loyalty, while sustaining and enhancing our earning potential. Our Company We have created an innovative online-to-offline ("O2O") e-commerce platform business model offering consumers and merchants instant rebates and affiliate cashback programs, while providing a seamless e-payment solution with rebates in both e-commerce (i.e., online) and physical retailers/merchant (i.e., offline) settings. Our proprietary product is an internet application (or "App") branded "ZCITY App," which was developed through our wholly owned subsidiary, ZCity Sdn. Bhd. (formerly known as Gem Reward Sdn. Bhd, name change effected on July 20, 2023) ("ZCITY"). The ZCITY App was successfully launched in Malaysia in June 2020. ZCITY is equipped with the know-how and expertise to develop additional/add-on technology-based products and services to complement the ZCITY App, thereby growing its reach and user base. Through simplifying a user's e-payment gateway experience, as well as by providing great deals, rewards and promotions with every use, we aim to make the ZCITY App Malaysia's top reward and payment gateway platform. Our longer-term goal is for the ZCITY App and its ever-developing technology to become one of the most well-known commercialized applications more broadly in Southeast Asia and Japan. As of September 25, 2024, we had 2,704,306 registered users and 2,027 registered merchants. 1 Corporate Structure Treasure Global Inc is a Delaware corporation that was incorporated on March 20, 2020. We issued 10,000,000 shares to Kok Pin "Darren" Tan, our founder and former Chief Executive Officer on July 1, 2020, who as a result became our sole shareholder. ZCity Sdn. Bhd. (formerly known as Gem Reward Sdn. Bhd, name change effected on July 20, 2023), a Malaysia private limited company was incorporated on June 6, 2017. P

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View this 10-K filing on SEC EDGAR