10-Q Filing

KING RESOURCES, INC. CIK: 774415 Q1 2024

Filing Information

Form Type	10-Q
Accession Number	`0001683168-23-005671`
Period End Date	20230630
Filing Date	20230814
Fiscal Year	2024
Fiscal Period	Q1
XBRL Instance	king_i10q-063023_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 42 Cash Flow Statement 48 Stockholders Equity 13

Balance Sheet 66 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`	15.00M	shares	Point-in-time
Preferred Stock, Shares Undesignated	`PreferredStockSharesAuthorizedUndesignated`	15.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.91K	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.75K	USD	Point-in-time
Accounts receivables	`AccountsReceivableNetCurrent`	$31.87K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	6.00B	shares	Point-in-time
Accounts receivables	`AccountsReceivableNetCurrent`	$19.08K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	6.00B	shares	Point-in-time
Deferred financing cost	`DeferredCostsCurrent`	$402.50K	USD	Point-in-time
Deferred financing cost	`DeferredCostsCurrent`	$402.50K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	5.48B	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	5.48B	shares	Point-in-time
Deposits, prepayments and other receivables	`PrepaidExpenseAndOtherAssetsCurrent`	$114.97K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	5.48B	shares	Point-in-time
Deposits, prepayments and other receivables	`PrepaidExpenseAndOtherAssetsCurrent`	$112.17K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	5.48B	shares	Point-in-time
Total current assets	`AssetsCurrent`	$541.46K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$548.29K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$5.09K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$4.46K	USD	Point-in-time
Right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$22.93K	USD	Point-in-time
Right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$32.70K	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$14.94K	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$13.84K	USD	Point-in-time
Deferred financing cost, net	`DeferredFinanceCostsNoncurrentNet`	$394.67K	USD	Point-in-time
Deferred financing cost, net	`DeferredFinanceCostsNoncurrentNet`	$495.30K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$435.90K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$548.04K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$984.20K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.09M	USD	Point-in-time
Accrued liabilities and other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$277.12K	USD	Point-in-time
Accrued liabilities and other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$253.94K	USD	Point-in-time
Accrued consulting and service fees	`AccruedProfessionalFeesCurrent`	$300.00K	USD	Point-in-time
Accrued consulting and service fees	`AccruedProfessionalFeesCurrent`	$300.00K	USD	Point-in-time
Advances received from customer	`AdvanceReceivedFromMirumDigitalMediaLimited`	$287.14K	USD	Point-in-time
Advances 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`	$1.87M	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityCurrent`	$23.73K	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityCurrent`	$33.64K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.72M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.76M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$2.72M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$2.76M	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 shares issued and outstanding as of June 30, 2023 and March 31, 2023, respectively	`CommonStockValue`	$5.48M	USD	Point-in-time
Common stock, par value $0.001, 6,000,000,000 shares authorized, 5,484,167,213 shares issued and outstanding as of June 30, 2023 and March 31, 2023, respectively	`CommonStockValue`	$5.48M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$731.13K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$731.13K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$5.36K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.88K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.88M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-8.02M	USD	Point-in-time
Stockholders deficit	`StockholdersEquity`	$-1.38M	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`	$-1.78M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT	`LiabilitiesAndStockholdersEquity`	$1.09M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT	`LiabilitiesAndStockholdersEquity`	$984.20K	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Revenue, net	`Revenues`	$12.76K	USD	1 Quarter
Revenue, net	`Revenues`	$159.32K	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$7.65K	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$16.49K	USD	1 Quarter
Gross profit	`GrossProfit`	$142.83K	USD	1 Quarter
Gross profit	`GrossProfit`	$5.10K	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$62.61K	USD	1 Quarter
Sales and marketing expenses	`SellingAndMarketingExpense`	$149.00K	USD	1 Quarter
Sales and marketing expenses	`SellingAndMarketingExpense`	$3.04K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$101.65K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$41.80K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$313.26K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$44.84K	USD	1 Quarter
Loss from operation	`OperatingIncomeLoss`	$-39.74K	USD	1 Quarter
Loss from operation	`OperatingIncomeLoss`	$-170.43K	USD	1 Quarter
Government subsidy	`OtherNonoperatingIncome`	-	USD	1 Quarter
Government subsidy	`OtherNonoperatingIncome`	$3.06K	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$14.58K	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$100.62K	USD	1 Quarter
Interest income	`InterestAndOtherIncome`	$2.00	USD	1 Quarter
Interest income	`InterestAndOtherIncome`	-	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-11.53K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-100.62K	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-140.36K	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-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`	$-140.36K	USD	1 Quarter
Foreign currency adjustment gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-3.49K	USD	1 Quarter
Foreign currency adjustment gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$4.83K	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-143.85K	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`	4.84B	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	5.48B	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.48B	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.84B	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-181.96K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-140.36K	USD	1 Quarter
Depreciation - Property and equipment	`OtherDepreciationAndAmortization`	$646.00	USD	1 Quarter
Depreciation - Property and equipment	`OtherDepreciationAndAmortization`	$460.00	USD	1 Quarter
Depreciation - Right-of-use assets	`OperatingLeasesIncomeStatementDepreciationExpenseOnPropertySubjectToOrHeldForLease`	$9.82K	USD	1 Quarter
Depreciation - Right-of-use assets	`OperatingLeasesIncomeStatementDepreciationExpenseOnPropertySubjectToOrHeldForLease`	$9.82K	USD	1 Quarter
Amortization	`AmortizationOfIntangibleAssets`	$1.12K	USD	1 Quarter
Amortization	`AmortizationOfIntangibleAssets`	$1.12K	USD	1 Quarter
Non-cash lease expenses	`OtherNoncashExpense`	$371.00	USD	1 Quarter
Non-cash lease expenses	`OtherNoncashExpense`	$845.00	USD	1 Quarter
Amortization of deferred financing cost	`OtherAmortizationOfDeferredCharges`	$100.62K	USD	1 Quarter
Amortization of deferred financing cost	`OtherAmortizationOfDeferredCharges`	$14.58K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$12.79K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	-	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$874.00	USD	1 Quarter
Deposit, prepayments and other receivables	`IncreaseDecreaseInPrepaidExpense`	$-2.80K	USD	1 Quarter
Deposit, prepayments and other receivables	`IncreaseDecreaseInPrepaidExpense`	$4.66K	USD	1 Quarter
Accrued liabilities and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$226.09K	USD	1 Quarter
Accrued liabilities and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-266.19K	USD	1 Quarter
Advances received from customer	`IncreaseDecreaseInContractWithCustomerLiability`	-	USD	1 Quarter
Advances received from customer	`IncreaseDecreaseInContractWithCustomerLiability`	$289.37K	USD	1 Quarter
Accrued consulting and service fees	`IncreaseDecreaseInAccruedConsultingAndServiceFees`	-	USD	1 Quarter
Accrued consulting and service fees	`IncreaseDecreaseInAccruedConsultingAndServiceFees`	$200.00K	USD	1 Quarter
Right-of-use assets and lease liabilities	`IncreaseDecreaseInRightofuseAssetsAndLeaseLiabilities`	$10.33K	USD	1 Quarter
Right-of-use assets and lease liabilities	`IncreaseDecreaseInRightofuseAssetsAndLeaseLiabilities`	$9.48K	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-24.92K	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$255.94K	USD	1 Quarter
Advances from related parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$134.85K	USD	1 Quarter
Advances from related parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$24.77K	USD	1 Quarter
Net cash provided by financing activity	`NetCashProvidedByUsedInFinancingActivities`	$24.77K	USD	1 Quarter
Net cash provided by financing activity	`NetCashProvidedByUsedInFinancingActivities`	$134.85K	USD	1 Quarter
Foreign currency translation adjustment	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-3.02K	USD	1 Quarter
Foreign currency translation adjustment	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.31K	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-3.17K	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$401.09K	USD	1 Quarter
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.75K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.91K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$415.96K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.86K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.75K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.91K	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`	$14.86K	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`	$-1.63M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-1.73M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-1.78M	USD	Point-in-time
Commitment shares issued for private placement	`CommitmentSharesIssuedForPrivatePlacement`	$525.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-3.49K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$4.83K	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-181.96K	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-140.36K	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$-1.38M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-1.63M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-1.73M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-1.78M	USD	Point-in-time

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