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Yijia Group Corp (YJGJ). has submitted its 10-Q filing for the quarterly period ended October 31, 2024.
The filing includes financial statements for the quarter, showing total revenue of $292,118, derived primarily from the sale of healthcare products and consulting services. This represents a significant increase from the same period in the previous year, which reported no revenue.
Cost of revenue for the quarter was $136,284, resulting in a gross profit of $155,834. The gross profit margin for the quarter was 53%, attributed to the commencement of sales in the healthcare segment.
Operating expenses for the quarter totaled $93,234, including personnel and benefit costs of $52,968 and general and administrative expenses of $40,107.
The company reported a net income of $32,647 for the quarter, compared to a net loss of $8,755 in the same quarter the previous year. This turnaround is primarily due to increased revenue from the healthcare segment.
Cash used in operating activities was $495,241 for the six months ended October 31, 2024, while cash provided by financing activities was $125,000, primarily from proceeds from a related party.
As of October 31, 2024, Yijia Group Corp. had total current assets of $1,258,812 and total current liabilities of $223,938. The company had $222,795 in cash and $57,700 in accounts receivable.
The company does not anticipate paying dividends on its common stock in the foreseeable future, as it intends to reinvest earnings into product development and expansion.
Yijia Group Corp. identified material weaknesses in its internal controls over financial reporting, specifically citing a lack of a functioning audit committee and ineffective controls over financial disclosure processes.
The company is not currently involved in any legal proceedings and has no off-balance sheet arrangements or contractual obligations as of the end of the reporting period.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Yijia Group Corp quarterly 10-Q report dated December 13, 2024. To report an error, please email earnings@qz.com.