10-Q Filing

KING RESOURCES, INC. CIK: 774415 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001683168-22-005348`
Period End Date	20220630
Filing Date	20220805
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	kingres_i10q-063022_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 40 Cash Flow Statement 42 Stockholders Equity 13

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	85.00M	shares	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	85.00M	shares	Point-in-time
Preferred Stock, Shares Undesignated	`PreferredStockSharesAuthorizedUndesignated`	35.00M	shares	Point-in-time
Preferred Stock, Shares Undesignated	`PreferredStockSharesAuthorizedUndesignated`	35.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$415.96K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.86K	USD	Point-in-time
Inventories	`InventoryNet`	$17.62K	USD	Point-in-time
Inventories	`InventoryNet`	$18.45K	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Deferred financing cost	`DeferredFinanceCostsCurrentGross`	$510.42K	USD	Point-in-time
Deferred financing cost	`DeferredFinanceCostsCurrentGross`	-	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	6.00B	shares	Point-in-time
Deposits, prepayments and other receivables	`PrepaidExpenseAndOtherAssetsCurrent`	$63.33K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	6.00B	shares	Point-in-time
Deposits, prepayments and other receivables	`PrepaidExpenseAndOtherAssetsCurrent`	$58.79K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	5.33B	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	4.81B	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.01M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$91.27K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	4.81B	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	5.33B	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$4.74K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$5.21K	USD	Point-in-time
Right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$72.13K	USD	Point-in-time
Right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$62.16K	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$19.47K	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$18.31K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$85.21K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$96.81K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$188.07K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.09M	USD	Point-in-time
Accrued liabilities and other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$400.97K	USD	Point-in-time
Accrued liabilities and other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$165.39K	USD	Point-in-time
Accrued consulting and service fees	`AccruedProfessionalFeesCurrent`	-	USD	Point-in-time
Accrued consulting and service fees	`AccruedProfessionalFeesCurrent`	$200.00K	USD	Point-in-time
Amounts due to related parties	`DueToRelatedPartiesCurrent`	$1.81M	USD	Point-in-time
Amounts due to related parties	`DueToRelatedPartiesCurrent`	$1.68M	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityCurrent`	$39.09K	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityCurrent`	$38.70K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.45M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.89M	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$33.72K	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$23.70K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$1.92M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$2.48M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, par value $0.001, 6,000,000,000 shares authorized, 5,332,802,061 and 4,807,802,061 shares issued and outstanding as of June 30, 2022 and March 31, 2022, respectively	`CommonStockValue`	$5.33M	USD	Point-in-time
Common stock, par value $0.001, 6,000,000,000 shares authorized, 5,332,802,061 and 4,807,802,061 shares issued and outstanding as of June 30, 2022 and March 31, 2022, respectively	`CommonStockValue`	$4.81M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$2.72K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.11K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-6.75M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-6.57M	USD	Point-in-time
Stockholders deficit	`StockholdersEquity`	$-1.38M	USD	Point-in-time
Stockholders deficit	`StockholdersEquity`	$-1.68M	USD	Point-in-time
Stockholders deficit	`StockholdersEquity`	$-1.73M	USD	Point-in-time
Stockholders deficit	`StockholdersEquity`	$-1.74M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT	`LiabilitiesAndStockholdersEquity`	$1.09M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT	`LiabilitiesAndStockholdersEquity`	$188.07K	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Revenue, net	`Revenues`	-	USD	1 Quarter
Revenue, net	`Revenues`	$159.32K	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	-	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$16.49K	USD	1 Quarter
Gross profit	`GrossProfit`	$142.83K	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$62.61K	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$28.42K	USD	1 Quarter
Sales and marketing expenses	`SellingAndMarketingExpense`	-	USD	1 Quarter
Sales and marketing expenses	`SellingAndMarketingExpense`	$149.00K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$101.65K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$23.57K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$313.26K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$51.98K	USD	1 Quarter
Loss from operation	`OperatingIncomeLoss`	$-170.43K	USD	1 Quarter
Loss from operation	`OperatingIncomeLoss`	$-51.98K	USD	1 Quarter
Government subsidy	`OtherNonoperatingIncome`	$3.06K	USD	1 Quarter
Government subsidy	`OtherNonoperatingIncome`	-	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$14.58K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-11.53K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	-	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`ProfitLoss`	$-51.98K	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`ProfitLoss`	$-181.96K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-181.96K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-51.98K	USD	1 Quarter
Foreign currency adjustment gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-1.99K	USD	1 Quarter
Foreign currency adjustment gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$4.83K	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-53.98K	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-177.13K	USD	1 Quarter
Basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	4.81B	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	4.84B	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.81B	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.84B	shares	1 Quarter

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-181.96K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-51.98K	USD	1 Quarter
Depreciation	`OtherDepreciationAndAmortization`	$9.55K	USD	1 Quarter
Depreciation	`OtherDepreciationAndAmortization`	$10.28K	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$1.07K	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$1.12K	USD	1 Quarter
Non-cash lease expenses	`OtherNoncashExpense`	$845.00	USD	1 Quarter
Non-cash lease expenses	`OtherNoncashExpense`	$361.00	USD	1 Quarter
Amortization of deferred financing cost	`AmortizationOfDeferredCharges`	$14.58K	USD	1 Quarter
Amortization of deferred financing cost	`AmortizationOfDeferredCharges`	-	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$874.00	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	-	USD	1 Quarter
Deposit, prepayments and other receivables	`IncreaseDecreaseInPrepaidExpense`	$4.66K	USD	1 Quarter
Deposit, prepayments and other receivables	`IncreaseDecreaseInPrepaidExpense`	$-1.53K	USD	1 Quarter
Accrued liabilities and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-2.00K	USD	1 Quarter
Accrued liabilities and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$226.09K	USD	1 Quarter
Accrued consulting and service fees	`IncreaseDecreaseInAccruedConsultingAndServiceFees`	$200.00K	USD	1 Quarter
Accrued consulting and service fees	`IncreaseDecreaseInAccruedConsultingAndServiceFees`	-	USD	1 Quarter
Right-of-use assets and lease liabilities	`IncreaseDecreaseInRightofuseAssetsAndLeaseLiabilities`	$9.95K	USD	1 Quarter
Right-of-use assets and lease liabilities	`IncreaseDecreaseInRightofuseAssetsAndLeaseLiabilities`	$9.48K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$255.94K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-51.42K	USD	1 Quarter
Advances from related parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$134.85K	USD	1 Quarter
Advances from related parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$32.68K	USD	1 Quarter
Net cash provided by financing activity	`NetCashProvidedByUsedInFinancingActivities`	$32.68K	USD	1 Quarter
Net cash provided by financing activity	`NetCashProvidedByUsedInFinancingActivities`	$134.85K	USD	1 Quarter
Foreign currency translation adjustment	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.31K	USD	1 Quarter
Foreign currency translation adjustment	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-1.34K	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$401.09K	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-20.08K	USD	1 Quarter
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$415.96K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$22.38K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.86K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$42.46K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$415.96K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$22.38K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.86K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$42.46K	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	-	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	-	USD	1 Quarter

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$-1.38M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-1.68M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-1.73M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-1.74M	USD	Point-in-time
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-1.99K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$4.83K	USD	1 Quarter
Commitment shares issued for private placement	`CommitmentSharesIssuedForPrivatePlacement`	$525.00K	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-181.96K	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-51.98K	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$-1.38M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-1.68M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-1.73M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-1.74M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.