$TIRXF

TIAN RUIXIANG HOLDINGS LTD

CIK:0001782941|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)	12 Months Ended
	Oct. 31, 2024	Oct. 31, 2023	Oct. 31, 2022
Total Revenues	$ 3,219,336	$ 1,244,247	$ 1,351,909
OPERATING EXPENSES
Selling and marketing	3,372,829	2,438,248	1,764,909
General and administrative - professional fees	934,732	1,220,367	1,185,930
General and administrative - compensation and related benefits	1,701,489	460,791	2,691,751
General and administrative - other	178,232	141,167	654,587
Impairment loss	1,677,301	0	123,646
Total Operating Expenses	7,864,583	4,260,573	6,420,823
LOSS FROM OPERATIONS	(4,645,247)	(3,016,326)	(5,068,914)
OTHER INCOME (EXPENSE)
Interest income	700,884	731,961	434,406
Other expense	(442)	(8,278)	(26,042)
Total Other Income, net	700,442	723,683	408,364
LOSS BEFORE INCOME TAXES	(3,944,805)	(2,292,643)	(4,660,550)
INCOME TAXES	42,123	161,339	23,639
NET LOSS	(3,986,928)	(2,453,982)	(4,684,189)
LESS: NET LOSS ATTRIBUTABLE TO NON-CONTROLLING INTEREST	(3)	(5)	(32)
NET LOSS ATTRIBUTABLE TO TIAN RUIXIANG HOLDINGS LTD ORDINARY SHAREHOLDERS	$ (3,986,925)	$ (2,453,977)	$ (4,684,157)
NET LOSS PER ORDINARY SHARE ATTRIBUTABLE TO TIAN RUIXIANG HOLDINGS LTD ORDINARY SHAREHOLDERS:
Basic	$ (2.42)	$ (3.87)	$ (9.03)
Diluted	$ (2.42)	$ (3.87)	$ (9.03)
WEIGHTED AVERAGE ORDINARY SHARES OUTSTANDING:
Basic	1,646,378	633,336	518,655
Diluted	1,646,378	633,336	518,655
COMPREHENSIVE LOSS:
NET LOSS	$ (3,986,928)	$ (2,453,982)	$ (4,684,189)
OTHER COMPREHENSIVE INCOME (LOSS)
Unrealized foreign currency translation gain (loss)	766,585	(61,134)	(3,717,478)
COMPREHENSIVE LOSS	(3,220,343)	(2,515,116)	(8,401,667)
LESS: COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO NON-CONTROLLING INTEREST	8	(6)	(89)
COMPREHENSIVE LOSS ATTRIBUTABLE TO TIAN RUIXIANG HOLDINGS LTD ORDINARY SHAREHOLDERS	(3,220,351)	(2,515,110)	(8,401,578)
Risk management services
Total Revenues		0	27,254
Commissions
Total Revenues	$ 3,219,336	$ 1,244,247	$ 1,324,655

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Oct. 31, 2024	Oct. 31, 2023	Oct. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (3,986,928)	$ (2,453,982)	$ (4,684,189)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation expense and amortization of intangible assets	121,304	1,631	22,853
Amortization of right-of-use assets	47,397	78,126	185,421
Impairment loss	1,677,301	0	123,646
Stock-based compensation and service expense	2,818,565	1,450,000	2,888,787
Credit loss provision	0	7,338	0
Loss on disposal of property and equipment	0	848	0
Changes in operating assets and liabilities:
Accounts receivable	(1,381,292)	25,983	254,109
Security deposit	18,068	6,726	37,853
Interest receivable	(156,000)	262,192	(149,178)
Due from related party	(15,123)	1,417	(1,511)
Other assets	5,809	91,348	495,668
Taxes payable	91,291	163,500	36,553
Salary payable	182,711	347,567	349,436
Accrued liabilities and other payables	1,528,259	99,649	304,576
Due to related parties	(5,494)	992,277	126,228
Operating lease liabilities	(47,974)	(80,316)	(189,012)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	897,894	994,304	(198,760)
CASH FLOWS FROM INVESTING ACTIVITIES:
Cash acquired on acquisition	77,893	0	0
Purchase of property and equipment	0	0	(2,346)
Increase in note receivable - related party	(2,251,945)	0	0
Proceeds from repayment of note receivable - related party	892,036	0	0
Investment in note receivable	0	(7,800,000)	0
Proceeds from repayment of note receivable	0	7,500,000	0
Purchase of short-term investments	(28,138,269)	(27,779,231)	(29,011,783)
Proceeds from sale of short-term investments	27,599,200	27,086,514	116,663
NET CASH USED IN INVESTING ACTIVITIES	(1,821,085)	(992,717)	(28,897,466)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from loan payable	1,115,030	0	0
Proceeds from related parties' borrowings	95,520	9,535	225,171
Repayments of related parties' borrowings	(21,727)	(9,818)	(225,171)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	1,188,823	(283)	0
EFFECT OF EXCHANGE RATE ON CASH AND RESTRICTED CASH	35,530	(1,471)	(1,052,173)
NET INCREASE (DECREASE) IN CASH AND RESTRICTED CASH	301,162	(167)	(30,148,399)
CASH AND RESTRICTED CASH - beginning of year	695,075	695,242	30,843,641
CASH AND RESTRICTED CASH - end of year	996,237	695,075	695,242
Cash paid for:
Interest	70	0	22
Income taxes	319	807	0
NON-CASH INVESTING AND FINANCING ACTIVITIES
Reissuance of treasury stock	0	25,000	0
Payments made by related parties on the Company's behalf	481,600	1,068,700	0
Intangible assets acquired by issuance of ordinary share	1,797,109	0	0
RECONCILIATION OF CASH AND RESTRICTED CASH
Cash at beginning of year	2,383	2,508	30,024,372
Restricted cash at beginning of year	692,692	692,734	819,269
CASH AND RESTRICTED CASH - beginning of year	695,075	695,242	30,843,641
Cash at end of year	297,288	2,383	2,508
Restricted cash at end of year	698,949	692,692	692,734
CASH AND RESTRICTED CASH - end of year	$ 996,237	$ 695,075	$ 695,242

CONSOLIDATED BALANCE SHEETS - USD ($)	Oct. 31, 2024	Oct. 31, 2023
CURRENT ASSETS:
Cash	$ 297,288	$ 2,383
Restricted cash	698,949	692,692
Short-term investments	28,090,382	26,797,081
Accounts receivable	1,411,786	18,960
Interest receivable	156,000	0
Due from related party	$ 10,097	$ 0
Other Receivable, after Allowance for Credit Loss, Current, Related Party, Type [Extensible Enumeration]	Related party	Related party
Other current assets	$ 86,150	$ 107,508
Total Current Assets	39,921,393	27,618,624
NON-CURRENT ASSETS:
Right-of-use assets, operating leases, net	52,853	54,870
Note receivable	0	7,800,000
Property and equipment, net	4,948	6,280
Total Non-current Assets	57,801	7,861,150
Total Assets	39,979,194	35,479,774
CURRENT LIABILITIES:
Operating lease liabilities	24,820	57,402
Taxes payable	732,849	623,825
Salary payable	910,675	726,330
Accrued liabilities and other payables	1,563,520	481,801
Loan payable	983,421	0
Due to related parties	$ 1,703,421	$ 1,173,510
Other Liability, Current, Related Party, Type [Extensible Enumeration]	Related party	Related party
Total Current Liabilities	$ 5,918,706	$ 3,062,868
NON-CURRENT LIABILITIES:
Operating lease liabilities - noncurrent portion	29,867	0
Loan payable	140,491	0
Total Non-current Liabilities	170,358	0
Total Liabilities	6,089,064	3,062,868
TIAN RUIXIANG Holdings Ltd Shareholders' Equity:
Additional paid-in capital	48,760,856	44,108,774
Accumulated deficit	(12,332,150)	(8,303,691)
Statutory reserve	316,684	275,150
Accumulated other comprehensive loss	(2,915,271)	(3,681,845)
Total TIAN RUIXIANG Holdings Ltd shareholders' equity	33,889,728	32,416,512
Non-controlling interest	402	394
Total Equity	33,890,130	32,416,906
Total Liabilities and Equity	39,979,194	35,479,774
Nonrelated party
CURRENT ASSETS:
Note receivable	7,800,000	0
Related party
CURRENT ASSETS:
Note receivable	1,370,741	0
Due from related party	10,097
Class A ordinary shares
TIAN RUIXIANG Holdings Ltd Shareholders' Equity:
Ordinary shares	58,359	16,874
Class B ordinary shares
TIAN RUIXIANG Holdings Ltd Shareholders' Equity:
Ordinary shares	$ 1,250	$ 1,250