10-K Filing

KING RESOURCES, INC. CIK: 774415 FY 2022

Filing Information

Form Type	10-K
Accession Number	`0001683168-23-004906`
Period End Date	20230331
Filing Date	20230714
Fiscal Year	2022
Fiscal Period	FY
XBRL Instance	king_i10k-033123_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 46 Cash Flow Statement 54 Stockholders Equity 13

Balance Sheet 69 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`	$4.91K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.86K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$19.08K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventories	`InventoryNet`	-	USD	Point-in-time
Inventories	`InventoryNet`	$17.62K	USD	Point-in-time
Deferred financing expenses	`DeferredCostsCurrent`	-	USD	Point-in-time
Deferred financing expenses	`DeferredCostsCurrent`	$402.50K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	6.00B	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	6.00B	shares	Point-in-time
Deposits, prepayments and other receivables	`PrepaidExpenseAndOtherAssetsCurrent`	$114.97K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	4.81B	shares	Point-in-time
Deposits, prepayments and other receivables	`PrepaidExpenseAndOtherAssetsCurrent`	$58.79K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	5.48B	shares	Point-in-time
Total current assets	`AssetsCurrent`	$91.27K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$541.46K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	4.81B	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	5.48B	shares	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentNet`	$5.21K	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentNet`	$5.09K	USD	Point-in-time
Deferred financing expenses	`DeferredFinanceCostsNoncurrentNet`	-	USD	Point-in-time
Deferred financing expenses	`DeferredFinanceCostsNoncurrentNet`	$495.30K	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$72.13K	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$32.70K	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$19.47K	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$14.94K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$548.04K	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`	$165.39K	USD	Point-in-time
Accrued liabilities and other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$253.94K	USD	Point-in-time
Accrued consulting and service fee	`AccruedProfessionalFeesCurrent`	$300.00K	USD	Point-in-time
Accrued consulting and service fee	`AccruedProfessionalFeesCurrent`	-	USD	Point-in-time
Advance received from Customer	`AdvanceReceivedFromMirumDigitalMediaLimited`	-	USD	Point-in-time
Advance received from Customer	`AdvanceReceivedFromMirumDigitalMediaLimited`	$286.64K	USD	Point-in-time
Amounts due to related parties	`AmountsDueToRelatedParties`	$1.85M	USD	Point-in-time
Amounts due to related parties	`AmountsDueToRelatedParties`	$1.68M	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityCurrent`	$38.70K	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityCurrent`	$33.64K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.89M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.72M	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$33.72K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$1.92M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$2.72M	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, 5,484,167,213 and 4,807,802,061 shares issued and outstanding at March 31, 2023 and 2022, respectively	`CommonStockValue`	$5.48M	USD	Point-in-time
Common stock, par value $0.001, 6,000,000,000 shares authorized, 5,484,167,213 and 4,807,802,061 shares issued and outstanding at March 31, 2023 and 2022, respectively	`CommonStockValue`	$4.81M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$731.13K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.11K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$5.36K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.88M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-6.57M	USD	Point-in-time
Stockholders deficit	`StockholdersEquity`	$-1.63M	USD	Point-in-time
Stockholders deficit	`StockholdersEquity`	$-1.73M	USD	Point-in-time
Stockholders deficit	`StockholdersEquity`	$-1.68M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT	`LiabilitiesAndStockholdersEquity`	$188.07K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT	`LiabilitiesAndStockholdersEquity`	$1.09M	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
Revenue, net	`Revenues`	$198.82K	USD	Annual
Revenue, net	`Revenues`	$385.41K	USD	Annual
Cost of revenue	`CostOfRevenue`	$68.05K	USD	Annual
Cost of revenue	`CostOfRevenue`	$70.28K	USD	Annual
Gross profit	`GrossProfit`	$317.36K	USD	Annual
Gross profit	`GrossProfit`	$128.54K	USD	Annual
Research and development expenses	`ResearchAndDevelopmentExpense`	$59.38K	USD	Annual
Research and development expenses	`ResearchAndDevelopmentExpense`	$259.50K	USD	Annual
Sales and marketing expenses	`SellingAndMarketingExpense`	$915.00	USD	Annual
Sales and marketing expenses	`SellingAndMarketingExpense`	$355.92K	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$529.58K	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$317.23K	USD	Annual
Total operating expenses	`OperatingExpenses`	$377.53K	USD	Annual
Total operating expenses	`OperatingExpenses`	$1.15M	USD	Annual
Loss from operation	`OperatingIncomeLoss`	$-60.17K	USD	Annual
Loss from operation	`OperatingIncomeLoss`	$-1.02M	USD	Annual
Interest expenses	`InterestExpenseOther`	$309.70K	USD	Annual
Interest expenses	`InterestExpenseOther`	-	USD	Annual
Interest income	`InterestAndOtherIncome`	$40.00	USD	Annual
Interest income	`InterestAndOtherIncome`	-	USD	Annual
Inventory impairment loss	`GoodwillImpairmentLoss`	$751.00	USD	Annual
Inventory impairment loss	`GoodwillImpairmentLoss`	-	USD	Annual
Subsidy income	`OtherNonoperatingIncome`	-	USD	Annual
Subsidy income	`OtherNonoperatingIncome`	$9.19K	USD	Annual
Sundry income	`OtherIncome`	$2.18K	USD	Annual
Sundry income	`OtherIncome`	-	USD	Annual
Total other expense, net	`NonoperatingIncomeExpense`	$-299.05K	USD	Annual
Total other expense, net	`NonoperatingIncomeExpense`	-	USD	Annual
LOSS BEFORE INCOME TAXES	`ProfitLoss`	$-60.17K	USD	Annual
LOSS BEFORE INCOME TAXES	`ProfitLoss`	$-1.32M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	Annual
NET LOSS	`NetIncomeLoss`	$-1.32M	USD	Annual
NET LOSS	`NetIncomeLoss`	$-60.17K	USD	Annual
Foreign currency adjustment gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$7.47K	USD	Annual
Foreign currency adjustment gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$11.30K	USD	Annual
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-1.31M	USD	Annual
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-48.86K	USD	Annual
Basic	`EarningsPerShareBasic`	-	USD	Annual
Basic	`EarningsPerShareBasic`	-	USD	Annual
Diluted	`EarningsPerShareDiluted`	-	USD	Annual
Diluted	`EarningsPerShareDiluted`	-	USD	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	4.81B	shares	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	5.31B	shares	Annual
Diluted#	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.48B	shares	Annual
Diluted#	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.81B	shares	Annual

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.32M	USD	Annual
Net loss	`NetIncomeLoss`	$-60.17K	USD	Annual
Depreciation	`OtherDepreciationAndAmortization`	$41.62K	USD	Annual
Depreciation	`OtherDepreciationAndAmortization`	$38.69K	USD	Annual
Amortization	`AdjustmentForAmortization`	$4.31K	USD	Annual
Amortization	`AdjustmentForAmortization`	$4.49K	USD	Annual
Non-cash lease expenses	`OtherNoncashExpense`	$1.37K	USD	Annual
Non-cash lease expenses	`OtherNoncashExpense`	$2.68K	USD	Annual
Amortization of deferred financing expenses	`AmortizationOfDeferredCharges`	-	USD	Annual
Amortization of deferred financing expenses	`AmortizationOfDeferredCharges`	$309.70K	USD	Annual
Share issued for services rendered	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	Annual
Share issued for services rendered	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$200.00K	USD	Annual
Accounts receivable, related party	`IncreaseDecreaseInAccountsReceivableRelatedParty`	-	USD	Annual
Accounts receivable, related party	`IncreaseDecreaseInAccountsReceivableRelatedParty`	$38.54K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$19.08K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$9.25K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-17.62K	USD	Annual
Deposit, prepayments and other receivables	`IncreaseDecreaseInPrepaidExpense`	$41.14K	USD	Annual
Deposit, prepayments and other receivables	`IncreaseDecreaseInPrepaidExpense`	$56.18K	USD	Annual
Accrued liabilities and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$153.64K	USD	Annual
Accrued liabilities and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$375.19K	USD	Annual
Accrued consulting and service fee	`IncreaseDecreaseInAccruedConsultingAndServiceFees`	$300.00K	USD	Annual
Accrued consulting and service fee	`IncreaseDecreaseInAccruedConsultingAndServiceFees`	-	USD	Annual
Right-of-use assets and lease liabilities	`IncreaseDecreaseInRightofuseAssetsAndLeaseLiabilities`	$39.87K	USD	Annual
Right-of-use assets and lease liabilities	`IncreaseDecreaseInRightofuseAssetsAndLeaseLiabilities`	$41.34K	USD	Annual
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$86.11K	USD	Annual
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-180.81K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquireOilAndGasPropertyAndEquipment`	$2.22K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquireOilAndGasPropertyAndEquipment`	$5.54K	USD	Annual
Addition of intangible assets	`PaymentsToAcquireIntangibleAssets`	-	USD	Annual
Addition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$2.55K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.09K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.22K	USD	Annual
Advances from related parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-103.65K	USD	Annual
Advances from related parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$165.55K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-103.65K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$165.55K	USD	Annual
Foreign currency translation adjustment	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-1.97K	USD	Annual
Foreign currency translation adjustment	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.52K	USD	Annual
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-27.60K	USD	Annual
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-9.95K	USD	Annual
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$42.46K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.86K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.91K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$42.46K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.86K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.91K	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Cash paid for interest	`InterestPaidNet`	-	USD	Annual
Cash paid for interest	`InterestPaidNet`	-	USD	Annual
Lease obligation and Right-of-use asset	`LeaseObligationAndRightOfUseAsset`	$78.69K	USD	Annual
Lease obligation and Right-of-use asset	`LeaseObligationAndRightOfUseAsset`	$33.64K	USD	Annual

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$-1.63M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-1.73M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-1.68M	USD	Point-in-time
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$7.47K	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$11.30K	USD	Annual
Net loss for the year	`NetIncomeLoss`	$-1.32M	USD	Annual
Net loss for the year	`NetIncomeLoss`	$-60.17K	USD	Annual
Cancellation of shares with error	`StockRepurchasedDuringPeriodValue`	-	USD	Annual
Share issued for services rendered	`StockIssuedDuringPeriodValueIssuedForServices`	$200.00K	USD	Annual
Commitment share issued	`CommitmentSharesIssued`	$1.21M	USD	Annual
Ending balance, value	`StockholdersEquity`	$-1.63M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-1.73M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-1.68M	USD	Point-in-time

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