ATIF Holdings Ltd Files 10-Q for Period Ended January 31, 2024

TL;DR

<b>ATIF Holdings Ltd has filed its quarterly report (10-Q) for the period ending January 31, 2024, indicating its status as a smaller reporting and emerging growth company.</b>

AI Summary

ATIF Holdings Ltd (ZBAI) filed a Quarterly Report (10-Q) with the SEC on March 18, 2024. ATIF Holdings Ltd filed a Form 10-Q for the quarterly period ended January 31, 2024. The company is registered with the SEC under file number 001-38876. ATIF Holdings Ltd's ordinary shares are traded on The Nasdaq Stock Market under the symbol ATIF. The company has elected to use the extended transition period for complying with new or revised financial accounting standards. ATIF Holdings Ltd is classified as a smaller reporting company and an emerging growth company.

Why It Matters

For investors and stakeholders tracking ATIF Holdings Ltd, this filing contains several important signals. This filing provides an update on ATIF Holdings Ltd's financial performance and operational status for the specified quarter, which is crucial for investors to assess the company's current health and future prospects. As a smaller reporting and emerging growth company, ATIF Holdings Ltd may have different disclosure requirements and flexibility in adopting accounting standards, impacting how its financial information is presented and interpreted.

Risk Assessment

Risk Level: low — ATIF Holdings Ltd shows low risk based on this filing. The filing is a routine quarterly report (10-Q) and does not contain significant new financial data or material events that would indicate a change in risk profile.

Analyst Insight

Investors should review the detailed financial statements and management's discussion and analysis within the 10-Q to understand ATIF Holdings Ltd's performance and any emerging risks or opportunities.

Key Numbers

• 2024-01-31 — Quarterly Period End Date (Form 10-Q)
• 001-38876 — SEC File Number (ATIF Holdings Ltd)
• ATIF — Trading Symbol (ATIF Holdings Ltd)

Key Players & Entities

• ATIF Holdings Ltd (company) — Registrant
• January 31, 2024 (date) — Quarterly period ended
• 001-38876 (other) — Commission File Number
• ATIF (ticker) — Trading Symbol
• The Nasdaq Stock Market (company) — Name of exchange on which registered
• 20240318 (date) — FILED AS OF DATE

FAQ

Industry Context

ATIF Holdings Ltd operates in the services sector, specifically management consulting services, as indicated by its SIC code.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring regular reporting for publicly traded companies.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management's discussion and analysis.
2. Monitor future filings for changes in financial performance and strategic direction.
3. Assess the company's classification as a smaller reporting and emerging growth company in relation to its disclosure obligations.

Key Dates

• 2024-01-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-03-18: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is a standard quarterly report (10-Q) filing, and no comparative data from a previous filing was provided in the extracted text.

Filing Documents

• ea0201425-10q_atifhold.htm (10-Q) — 539KB
• ea020142501ex10-1_atifhold.htm (EX-10.1) — 58KB
• ea020142501ex31-1_atifhold.htm (EX-31.1) — 11KB
• ea020142501ex31-2_atifhold.htm (EX-31.2) — 10KB
• ea020142501ex32-1_atifhold.htm (EX-32.1) — 5KB
• ea020142501ex32-2_atifhold.htm (EX-32.2) — 5KB
• 0001213900-24-023396.txt (&nbsp;) — 3571KB
• atif-20240131.xsd (EX-101.SCH) — 40KB
• atif-20240131_cal.xml (EX-101.CAL) — 36KB
• atif-20240131_def.xml (EX-101.DEF) — 169KB
• atif-20240131_lab.xml (EX-101.LAB) — 290KB
• atif-20240131_pre.xml (EX-101.PRE) — 166KB
• ea0201425-10q_atifhold_htm.xml (XML) — 323KB

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains certain forward-looking statements. The statements herein which are not historical reflect our current expectations and projections about the Company's future results, performance, liquidity, financial condition, prospects and opportunities and are based upon information currently available to us and our management and our interpretation of what we believe to be significant factors affecting our business, including many assumptions about future events. Such forward-looking statements include statements regarding, among other things: our ability to produce, market and generate sales of our products and services; our ability to develop and/or introduce new products and services; our projected future sales, profitability and other financial metrics; our future financing plans; our anticipated needs for working capital; the anticipated trends in our industry; our ability to expand our sales and marketing capability; acquisitions of other companies or assets that we might undertake in the future; competition existing today or that will likely arise in the future; and other factors discussed elsewhere herein.

Forward-looking statements,

Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words "may," "should," "will," "plan," "could," "target," "contemplate," "predict," "potential," "continue," "expect," "anticipate," "estimate," "believe," "intend," "seek," or "project" or the negative of these words or other variations on these or similar words. Actual results, performance, liquidity, financial condition and results of operations, prospects and opportunities could differ materially from those expressed in, or implied by, these forward-looking statements as a result of various risks, uncertainties and other factors, including the ability to raise sufficient capital to continue the Company's operations. These as well as elsewhere in this Quarterly Report on Form 10-Q generally. Actual events or results may differ materially from those discussed in forward-looking statements as a result of various factors, including, without limitation, matters described in this Quarterly Report on Form 10-Q. In light of these risks and uncertainties, there can be no assurance that the forward-looking statements contained in this Quarterly Report on Form 10-Q will in fact occur. Potential investors should not place undue reliance on any forward-looking statements. Except as expressly required by the federal securities laws, there is no undertaking to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changed circumstances or any other reason. The forward-looking statements in this Quarterly Report on Form 10-Q represent our views as of the date of this Quarterly Report on Form 10-Q. Such statements are presented only as a guide about future possibilities and do not represent assured events, and we anticipate that subs

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS ATIF HOLDINGS LIMITED CONDENSED CONSOLIDATED BALANCE SHEETS January 31, 2024 July 31, 2023 (unaudited) ASSETS CURRENT ASSETS Cash and cash equivalents $ 139,152 $ 606,022 Accounts receivable 500,000 650,000 Accounts receivable – a related party - 600,000 Deposits 111,000 86,000 Investment in trading securities 548,576 130,649 Due from a related party 20,539 40,539 Prepaid expenses and other current assets 300,724 429,570 Total current assets 1,619,991 2,542,780 Property and equipment, net 79,385 93,637 Intangible assets, net 33,331 73,331 Right-of- use assets, net 756,012 1,058,822 TOTAL ASSETS $ 2,488,719 $ 3,768,570 LIABILITIES AND EQUITY CURRENT LIABILITIES Accrued expenses and other current liabilities $ 427,817 $ 293,140 Deferred revenue - 70,000 Taxes payable 24,285 31,200 Due to related parties 712,258 729,968 Operating lease liabilities, current 289,952 415,411 Total current liabilities 1,454,312 1,539,719 Operating lease liabilities, noncurrent 528,155 689,498 TOTAL LIABILITIES 1,982,467 2,229,217 Commitments EQUITY Ordinary shares, $ 0.001 par value, 100,000,000,000 shares authorized, 9,627,452 shares and 9,627,452 shares issued and outstanding as of January 31, 2024 and July 31, 2023, respectively 9,627 9,627 Additional paid-in capital 29,196,350 29,196,350 Accumulated deficit ( 28,699,725 ) ( 27,666,624 ) Total ATIF Holdings Limited Stockholders' equity 506,252 1,539,353 TOTAL LIABILITIES AND EQUITY $ 2,488,719 $ 3,768,570 The accompanying notes are an integral part of these condensed consolidated financial statements. 1 ATIF HOLDINGS LIMITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME For the Three Months Ended January 31, For the Six Months Ended January 31, 2024 2023 2024 2023 (unaudited) (unaudited) (unaudited) (unaudited) Revenues $ 25,000 $ 1,900,0

View Full Filing

View this 10-Q filing on SEC EDGAR