Armlogi Holding Corp. Files Q3 2024 10-Q Report
Ticker: BTOC · Form: 10-Q · Filed: Nov 14, 2024 · CIK: 1972529
Sentiment: neutral
Topics: 10-Q, quarterly-report, filing
TL;DR
**Armlogi Holding Corp. (ARML) filed its 10-Q for Q3 2024. Check financials.**
AI Summary
Armlogi Holding Corp. filed its quarterly report on Form 10-Q for the period ending September 30, 2024. The company, incorporated in Nevada, operates in the public warehousing & storage sector. Its principal executive offices are located at 20301 East Walnut Drive North, Walnut, California.
Why It Matters
This filing provides investors with an update on Armlogi Holding Corp.'s financial performance and operational status for the third quarter of 2024.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial and operational information.
Key Players & Entities
- Armlogi Holding Corp. (company) — Registrant
- September 30, 2024 (date) — Quarterly period end date
- 20301 East Walnut Drive North, Walnut, California, 91789 (location) — Principal executive offices address
- 001-42099 (other) — Commission File Number
FAQ
What is the primary business of Armlogi Holding Corp.?
Armlogi Holding Corp. operates in the Public Warehousing & Storage sector, as indicated by its Standard Industrial Classification code [4220].
When was this Form 10-Q filed?
This Form 10-Q was filed on November 14, 2024.
What is the fiscal year end for Armlogi Holding Corp.?
The fiscal year end for Armlogi Holding Corp. is June 30.
Where are Armlogi Holding Corp.'s principal executive offices located?
The principal executive offices of Armlogi Holding Corp. are located at 20301 East Walnut Drive North, Walnut, California, 91789.
What is the Commission File Number for Armlogi Holding Corp.?
The Commission File Number for Armlogi Holding Corp. is 001-42099.
Filing Stats: 4,289 words · 17 min read · ~14 pages · Grade level 16.1 · Accepted 2024-11-14 16:05:29
Key Financial Figures
- $0.00001 — ich registered Common stock, par value $0.00001 per share BTOC The Nasdaq Stock Market
- $ — EPTEMBER 30, 2024 AND JUNE 30, 2024 (US$, except share data, or otherwise noted)
Filing Documents
- ea0220779-10q_armlogi.htm (10-Q) — 570KB
- ea022077901ex31-1_armlogi.htm (EX-31.1) — 9KB
- ea022077901ex31-2_armlogi.htm (EX-31.2) — 8KB
- ea022077901ex32-1_armlogi.htm (EX-32.1) — 4KB
- ea022077901ex32-2_armlogi.htm (EX-32.2) — 4KB
- 0001213900-24-098404.txt ( ) — 4197KB
- btoc-20240930.xsd (EX-101.SCH) — 40KB
- btoc-20240930_cal.xml (EX-101.CAL) — 46KB
- btoc-20240930_def.xml (EX-101.DEF) — 200KB
- btoc-20240930_lab.xml (EX-101.LAB) — 359KB
- btoc-20240930_pre.xml (EX-101.PRE) — 212KB
- ea0220779-10q_armlogi_htm.xml (XML) — 421KB
Financial Statements
Financial Statements 1 Condensed Consolidated Balance Sheets as of September 30, 2024 (Unaudited) and June 30, 2024 1 Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) for the Three Months Ended September 30, 2024 and 2023 (Unaudited) 2 Condensed Consolidated Statements of Changes in Stockholders' Equity for the Three Months Ended September 30, 2024 and 2023 (Unaudited) 3 Condensed Consolidated Statements of Cash Flows for the Three Months Ended September 30, 2024 and 2023 (Unaudited) 4 Notes to Condensed Consolidated Financial Statements (Unaudited) 5 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 20 Item 3
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 28 Item 4
Controls and Procedures
Controls and Procedures 28 Part II Other Information 29 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 30
Signatures
Signatures 31 i ARMLOGI HOLDING CORP.
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements ARMLOGI HOLDING CORP. CONDENSED CONSOLIDATED BALANCE SHEETS AS OF SEPTEMBER 30, 2024 AND JUNE 30, 2024 (US$, except share data, or otherwise noted) September 30, 2024 June 30, 2024 US$ US$ Unaudited Audited Assets Current assets Cash 2,924,176 7,888,711 Accounts receivable and other receivable, net 25,177,485 25,465,044 Other current assets 1,875,381 1,624,611 Prepaid expenses 812,691 1,129,435 Loan receivables 861,554 1,877,131 Total current assets 31,651,287 37,984,932 Non-current assets Restricted cash – non-current 2,061,673 2,061,673 Long-term loan receivables 3,921,243 2,908,636 Property and equipment, net 11,785,272 11,010,407 Intangible assets, net 83,880 92,708 Right-of-use assets – operating leases 106,899,045 111,955,448 Right-of-use assets – finance leases 270,762 309,496 Other non-current assets 817,641 711,556 Total assets 157,490,803 167,034,856 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities: Current liabilities Accounts payable and accrued liabilities 5,574,620 7,502,339 Contract liabilities 774,711 276,463 Income taxes payable - 57,589 Due to related parties 350,209 350,209 Accrued payroll liabilities 779,680 405,250 Operating lease liabilities – current 26,272,945 24,216,446 Finance lease liabilities – current 155,625 155,625 Total current liabilities 33,907,790 32,963,921 Non-current liabilities Operating lease liabilities – non-current 88,695,370 93,126,092 Finance lease liabilities – non-current 133,852 169,683 Deferred income tax liabilities 162,957 1,536,455 Total liabilities 122,899,969 127,796,151 Commitments and contingencies Stockholders' equity Common stock, US$ 0.00001 par value, 100,000,000 shares authorized, 41,634,000 issued and outstanding as of September 30, 2024 and June 30, 2024, respectively 416 416 Additional paid-in capital 15,468,864 15,468,864 Retai
financial statements for the three months ended September 30, 2024 and 2023
financial statements for the three months ended September 30, 2024 and 2023. 5 ARMLOGI HOLDING CORP. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) 2. Summary of significant accounting policies (cont.) Cash Cash consists of petty cash on hand and cash held in banks, which is highly liquid and has original maturities of three months or less and is unrestricted as to withdrawal or use. Restricted Cash Restricted cash represents the cash restricted for two standby letters of credit with Eastwest Bank as collateral for certain of the Company's lease agreements. The terms of the letters of credit start from August 1, 2023 and November 7, 2023, respectively. The letters of credit are renewable on an annual basis until the termination thereof. Certain risks and concentration The Company's financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and restricted cash, receivables, loan receivables and other current assets. As of September 30, 2024 and June 30, 2024, substantially all of the Company's cash and restricted cash were held in EastWest Bank located in the U.S., which management considers to be of high credit quality. Accounts receivable and other receivables The Company's receivables are recorded when billed and represent amounts owed by third-party customers. The carrying value of the Company's receivables, net of the expected credit loss, represents their estimated net realizable value. The Company evaluates the expected credit loss of accounts receivable and other receivables on a loss rate method based on historical information adjusted for current conditions and future estimated economic performance. Property and equipment Property and equipment are recorded at cost, less accumulated depreciation and impairment. Depreciation of property and equipment is calculated on a straight-line basis, after consideration of expected useful lives and estimated r