Singularity Future Technology Ltd. (SGLY) Financial Statements (2023 and earlier)
Company Profile
| Business Address |
98 CUTTER MILL ROAD GREAT NECK, NY 11021 |
| State of Incorp. | VA |
| Fiscal Year End | June 30 |
| Industry (SIC) | 4731 - Arrangement of Transportation of Freight and Cargo (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 6/30/2023 | 12/31/2022 MRQ | 6/30/2022 | 6/30/2021 | 6/30/2020 | 6/30/2019 | 6/30/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 36,069 | 55,833 | 44,837 | 131 | 3,143 | 7,098 | |||
| Cash and cash equivalents | 36,069 | 55,833 | 44,837 | 131 | 3,143 | 7,098 | |||
| Receivables | 870 | 686 | 547 | 1,643 | 8,336 | 10,586 | |||
| Inventory, net of allowances, customer advances and progress billings | 1,201 | 1,236 | |||||||
| Inventory | 1,201 | 1,236 | |||||||
| Prepaid expense | 366 | 342 | 90 | 105 | 233 | ||||
| Advances on inventory purchases | 36 | 37 | 880 | 49 | 4,361 | 2,145 | |||
| Other undisclosed current assets | (667) | 5,008 | 261 | 3,770 | |||||
| Total current assets: | 37,509 | 63,165 | 46,867 | 1,913 | 15,945 | 23,832 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 479 | 733 | 418 | 300 | ✕ | ✕ | |||
| Property, plant and equipment | 459 | 549 | 757 | 523 | 990 | 956 | |||
| Long-term investments and receivables | 369 | 163 | |||||||
| Long-term investments | 369 | 163 | |||||||
| Intangible assets, net (including goodwill) | (190) | 26 | 90 | 153 | |||||
| Intangible assets, net (excluding goodwill) | (190) | 26 | 90 | 153 | |||||
| Prepaid expense | 520 | 438 | |||||||
| Deposits noncurrent assets | 3,293 | ||||||||
| Other noncurrent assets | 238 | 116 | 2,975 | 3,055 | 143 | ||||
| Other undisclosed noncurrent assets | 1,542 | 635 | |||||||
| Total noncurrent assets: | 1,306 | 1,682 | 5,936 | 3,825 | 4,654 | 2,325 | |||
| TOTAL ASSETS: | 38,816 | 64,848 | 52,803 | 5,738 | 20,599 | 26,158 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 4,972 | 5,469 | 5,148 | 5,411 | 5,171 | 6,207 | |||
| Taxes payable | ✕ | ✕ | 3,572 | 3,280 | 3,185 | 2,701 | |||
| Employee-related liabilities | ✕ | ✕ | 407 | ||||||
| Accounts payable | 842 | 509 | 575 | 488 | 568 | 3,226 | |||
| Accrued liabilities | 4,130 | 4,961 | 594 | 1,643 | 1,418 | 281 | |||
| Deferred revenue | 204 | ✕ | ✕ | ||||||
| Debt | 5,000 | 195 | 126 | ||||||
| Customer refund liability | 13,000 | ||||||||
| Due to related parties | 63 | 63 | |||||||
| Other undisclosed current liabilities | 448 | 6,680 | 0 | 271 | 69 | 415 | |||
| Total current liabilities: | 10,689 | 25,213 | 5,344 | 5,809 | 5,239 | 6,623 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 5,000 | 238 | 133 | ||||||
| Long-term debt, excluding current maturities | 5,000 | ||||||||
| Liabilities, other than long-term debt | 596 | 847 | 27 | ||||||
| Due to related parties | 27 | ||||||||
| Operating lease, liability | 596 | 847 | 238 | 133 | ✕ | ✕ | |||
| Other undisclosed noncurrent liabilities | (86) | 128 | |||||||
| Total noncurrent liabilities: | 596 | 5,847 | 390 | 287 | |||||
| Total liabilities: | 11,285 | 31,060 | 5,734 | 6,096 | 5,239 | 6,623 | |||
| Equity | |||||||||
| Equity, attributable to parent | 29,589 | 35,929 | 54,020 | 6,184 | 20,533 | 24,348 | |||
| Common stock | 96,457 | 96,128 | 82,556 | 28,415 | 26,524 | 23,717 | |||
| Treasury stock, value | (418) | (418) | |||||||
| Common stock, share subscribed but unissued, subscriptions receivable | (60) | ||||||||
| Additional paid in capital | 2,335 | 2,335 | 2,335 | 2,335 | 2,067 | 1,756 | |||
| Accumulated other comprehensive income (loss) | 193 | 46 | (625) | (1,084) | (671) | (272) | |||
| Accumulated deficit | (69,396) | (62,580) | (30,245) | (23,422) | (6,969) | (435) | |||
| Equity, attributable to noncontrolling interest | (2,059) | (2,141) | (6,951) | (6,542) | (5,174) | (4,813) | |||
| Total equity: | 27,531 | 33,788 | 47,069 | (358) | 15,360 | 19,535 | |||
| TOTAL LIABILITIES AND EQUITY: | 38,816 | 64,848 | 52,803 | 5,738 | 20,599 | 26,158 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2023 | 12/31/2022 TTM | 6/30/2022 | 6/30/2021 | 6/30/2020 | 6/30/2019 | 6/30/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 4,843 | 3,988 | 5,151 | 6,536 | 41,771 | 23,065 | ||
| Cost of revenue | (4,121) | (4,136) | (4,974) | (3,679) | (36,007) | (15,586) | ||
| Cost of goods and services sold | (3,684) | (3,988) | (5,151) | (6,536) | (41,771) | |||
| Provision for loan, lease, and other losses | (0) | (1,031) | (4,897) | (3,979) | ✕ | |||
| Gross profit: | 721 | (148) | 177 | 2,857 | 5,765 | 7,479 | ||
| Operating expenses | (22,067) | (22,543) | (6,438) | (20,595) | (11,735) | (6,661) | ||
| Operating income (loss): | (21,346) | (22,691) | (6,261) | (17,738) | (5,970) | 818 | ||
| Nonoperating income (expense) | (143) | (6,237) | (509) | (5) | (121) | 655 | ||
| Investment income, nonoperating | (6,132) | |||||||
| Other nonoperating income (expense) | (143) | (106) | (509) | (5) | 59 | 655 | ||
| Interest and debt expense | (185) | (2) | (6) | |||||
| Income (loss) from continuing operations before equity method investments, income taxes: | (21,674) | (28,931) | (6,775) | (17,743) | (6,091) | 1,473 | ||
| Other undisclosed income (loss) from continuing operations before income taxes | 185 | 2 | 6 | |||||
| Income (loss) from continuing operations before income taxes: | (21,489) | (28,928) | (6,770) | (17,743) | (6,091) | 1,473 | ||
| Income tax expense | (103) | (3) | (186) | (921) | (950) | |||
| Income (loss) from continuing operations: | (21,593) | (28,928) | (6,773) | (17,929) | (7,012) | 523 | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | (6,773) | (17,929) | (7,012) | 523 | |
| Income from discontinued operations | 6,100 | |||||||
| Other undisclosed net loss | (6,100) | |||||||
| Net income (loss): | (21,593) | (28,928) | (6,773) | (17,929) | (7,012) | 523 | ||
| Net income (loss) attributable to noncontrolling interest | (353) | (671) | 50 | 1,476 | 478 | (64) | ||
| Other undisclosed net income (loss) attributable to parent | 367 | 671 | (50) | |||||
| Net income (loss) attributable to parent: | (21,578) | (28,928) | (6,773) | (16,453) | (6,534) | 459 | ||
| Other undisclosed net loss available to common stockholders, basic | ||||||||
| Net income (loss) available to common stockholders, diluted: | (21,578) | (28,928) | (6,773) | (16,453) | (6,534) | 459 | ||
Comprehensive Income ($ in thousands)
| 6/30/2023 | 12/31/2022 TTM | 6/30/2022 | 6/30/2021 | 6/30/2020 | 6/30/2019 | 6/30/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (21,593) | (28,928) | (6,773) | (17,929) | (7,012) | 523 | ||
| Other undisclosed comprehensive income (loss) | 635 | 801 | (0) | (383) | (281) | 66 | ||
| Comprehensive income (loss): | (20,957) | (28,127) | (6,774) | (18,312) | (7,293) | 589 | ||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | 277 | 644 | 409 | 1,369 | 361 | (12) | ||
| Other undisclosed comprehensive income, net of tax, attributable to parent | 24 | |||||||
| Comprehensive income (loss), net of tax, attributable to parent: | (20,680) | (27,483) | (6,365) | (16,943) | (6,933) | 601 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.