Ajia Innogroup Holdings, Ltd.

CIK:0001650739|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
Revenues, net	$ 295,661	$ 112,462
Cost of revenue	(182,240)	(15,190)
Gross profit	113,421	97,272
Operating expenses:
General and administrative	(5,457,434)	(448,347)
Professional fee	(57,211)	(62,286)
Total operating expenses	(5,514,645)	(510,633)
LOSS FROM OPERATIONS	(5,401,224)	(413,361)
Other income:
Foreign exchange gain	886	0
Government subsidy	21,935	514
Gain on disposal of subsidiary	30,809	0
Sundry income	62,996	10
Interest income	16	0
Total other income	116,642	524
LOSS BEFORE INCOME TAXES	(5,284,582)	(412,837)
Income tax expense	0	0
NET LOSS	(5,284,582)	(412,837)
Net loss attributable to non-controlling interest	0	(123,922)
Net loss attributable to Ajia Innogroup Holdings, Ltd. shareholders	(5,284,582)	(288,915)
Other comprehensive (loss) gain:
- Foreign currency translation (loss) gain	(1,264)	6,191
- Release of foreign currency translation upon sale of a subsidiary	(1,281)	1,613
COMPREHENSIVE LOSS	$ (5,287,127)	$ (281,111)
Net loss per share - Basic and diluted	$ (0.05)	$ (0.00)
Weighted average shares outstanding - Basic and diluted	109,248,630	101,275,438

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net loss	$ (5,284,582)	$ (412,837)
Adjustment to reconcile net loss to net cash used in operating activities
Depreciation and amortization	17,050	247
Impairment of earnest deposit	105,000	0
Impairment of goodwill	5,029,592	0
Stock-based compensation	21,600	63,000
Loss on write off of fixed assets	254	0
Gain on disposal of a subsidiary	(30,809)	0
Change in operating assets and liabilities:
Account receivables	(600)	0
Other receivables	(24,586)	374
Account payables	(26,223)	0
Amount due to related parties	47,520	0
Deposits and prepayments	18,432	0
Other payables and accrued liabilities	(69,980)	128,021
Net cash used in operating activities	(197,332)	(59,636)
Cash flows from investing activities:
Purchase of plant and equipment	(9,726)	0
Cash from disposal of a subsidiary	(304)	(42,378)
Cash from acquisition of a subsidiary	0	(79,737)
Net cash used in investing activities	(10,030)	(122,115)
Cash flows from financing activity:
Advances from shareholders	452	236,530
Advances from a director	152,438	0
Net cash provided by financing activity	152,890	236,530
Effect of exchange rate changes on cash and cash equivalents	(1,236)	6,064
Net change in cash and cash equivalents	(55,708)	60,843
CASH AND CASH EQUIVALENT, BEGINNING OF YEAR	61,963	1,120
CASH AND CASH EQUIVALENT, END OF YEAR	6,255	61,963
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for income taxes	0	0
Cash paid for interest	$ 0	$ 0

CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2023	Jun. 30, 2022
Current assets:
Cash and cash equivalents	$ 6,255	$ 61,963
Deposits and prepayments	0	18,432
Earnest deposit	0	105,000
Account receivables	600	0
Other receivables	31,590	7,004
Total current assets	38,445	192,399
Non-current assets:
Plant and equipment, net	22,131	29,737
Goodwill	0	5,029,592
TOTAL ASSETS	60,576	5,251,728
Current liabilities:
Account payables	35,101	61,324
Other payables and accrued liabilities	216,518	361,330
Amounts due to related parties	47,520	0
Amounts due to directors	462,892	310,454
Amounts due to shareholders	287,190	286,738
Total current liabilities	1,049,221	1,019,846
Commitments and contingencies	0	0
Shareholders' equity:
Preferred stock, $0.001 par value, 100,000,000 shares authorized; 1,000 shares issued and outstanding at June 30, 2023 and 2022	1	1
Common stock, $0.001 par value; 500,000,000 shares authorized; 109,336,000 and 109,225,000 shares issued and outstanding as of June 30, 2023 and 2022	109,336	109,225
Additional paid-in capital	5,424,934	5,358,445
Non-controlling interest	(120,813)	(120,813)
Accumulated other comprehensive income	891	3,436
Accumulated deficit	(6,402,994)	(1,118,412)
Total shareholders' (deficit) equity	(988,645)	4,231,882
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 60,576	$ 5,251,728