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Vanguard Green Investment Ltd Com (VGES0.00%) has submitted its 10-K filing for the fiscal year ended July 31, 2024.
The filing indicates that Vanguard Green Investment Limited, formerly known as MU Global Holding Limited, operates through its wholly-owned subsidiaries, providing wellness and beauty services. The company focuses on the Chinese market with plans to expand to other regions.
For the fiscal year ended July 31, 2024, the company reported no revenue, compared to $120,938 in the previous year. The revenue in the prior year was from wellness and beauty services and product sales.
The company incurred a net loss of $85,697 for the year ended July 31, 2024, compared to a net loss of $41,887 in the previous year. The increase in net loss is primarily due to the absence of revenue.
Vanguard Green Investment Limited completed the disposition of its subsidiary, MU Global Health Management (Shanghai) Limited, on July 30, 2024, for $11,975. This transaction resulted in a gain of $64,050.
The company had a working capital deficit of $401,894 as of July 31, 2024, with cash and cash equivalents of $12,052. It relies on financing activities to meet its working capital requirements.
General and administrative expenses increased to $105,641 from $67,819 in the previous year, primarily due to professional fees and consultancy expenses.
The company reported other income of $19,944, which includes interest income, foreign exchange gain, and gain on disposal of property, plant, and equipment.
Vanguard Green Investment Limited does not have any credit facilities and depends on financial support from its director and third-party companies.
The company identified material weaknesses in its internal controls over financial reporting, specifically a lack of segregation of duties and effective risk assessment.
Vanguard Green Investment Limited plans to focus on green finance and ESG standards, aiming to develop innovative financial solutions and assist companies in reducing their carbon footprint.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Vanguard Green Investment Ltd Com annual 10-K report dated November 12, 2024. To report an error, please email earnings@qz.com.