Tue, Jul 16, 5:25 PM (53 days ago)
OneSolution Technology Inc. (formerly King Resources, Inc.) filed its annual report for the fiscal year ended March 31, 2024. The company operates through its subsidiaries in Hong Kong and the British Virgin Islands, focusing on smart power supply solutions and innovative lifestyle products. Key Financials: - Revenue: $70,296 (2024), $198,816 (2023) - Net Loss: $1,507,469 (2024), $1,315,508 (2023) - Current Assets: $107,706 (2024), $541,460 (2023) - Current Liabilities: $3,153,293 (2024), $2,722,831 (2023) Strategic Overview: - The company aims to expand product distribution into China and other Asian markets. - It has entered into partnerships to distribute innovative products and is developing a smart home ecosystem. Risk Factors: - Regulatory uncertainties in Hong Kong and China, including potential changes in PRC laws and cybersecurity regulations. - Dependence on a small number of customers and suppliers. - Potential impacts from the Holding Foreign Companies Accountable Act. Future Outlook: - The company plans to raise $10 million to support business expansion over the next 18-24 months. - It is focused on enhancing its sales channels and product offerings in Hong Kong and other regions.