Takung Art Co., Ltd. (TKAT) Financial Statements (2024 and earlier)

Company Profile

Business Address OFFICE Q 11TH FLOOR, KINGS WING PLAZA 2
HONG KONG, 999077
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 599 - Retail Stores, Not Elsewhere Classified (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

6/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments64,7951,5034,6985,4247,97511,867
Cash and cash equivalents64,7951,5034,6985,4247,97511,867
Restricted cash and investments2,706 9,14516,4054,54925,274
Receivables 861208,9905,8998,86811,719
Prepaid expense   39300478 
Disposal group, including discontinued operation 97373    
Deposits current assets6 360242 
Other current assets      
Other undisclosed current assets  1702052,097236707
Total current assets:67,6902,16723,11230,12622,34749,567
Noncurrent Assets
Operating lease, right-of-use asset  184183731
Property, plant and equipment 574388601,4462,191
Long-term investments and receivables  9,297 104  
Due from related parties    104  
Long-term investments  9,297    
Intangible assets, net (including goodwill)  023222222
Intangible assets, net (excluding goodwill)  023222222
Disposal group, including discontinued operation, noncurrent assets 56     
Deferred income tax assets   639540
Other noncurrent assets   1957142757
Other undisclosed noncurrent assets     612291
Total noncurrent assets: 619,4871,3012,3162,2223,262
TOTAL ASSETS:67,75111,65424,41332,44224,56952,829
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:2,132917286306421,462
Taxes payable 106615313
Employee-related liabilities 8080104827
Accrued liabilities7089136616886194
Other undisclosed accounts payable and accrued liabilities1,424 176376436128
Deferred revenue2,706   
Debt1,550 1,9772,0392,5537,371
Disposal group, including discontinued operation 8,701     
Due to related parties   6,4496,8636,385484
Customer advances and deposits25,444
Other liabilities  8,877    
Other undisclosed current liabilities256 9,34116,4164,519151
Total current liabilities:15,3448,96818,49525,94714,10034,911
Noncurrent Liabilities
Long-term debt and lease obligation:   10349  
Operating lease, liability   10349
Other undisclosed noncurrent liabilities   (103)   
Total noncurrent liabilities:   10349  
Other undisclosed liabilities  (91)    
Total liabilities:15,3448,87718,59825,99614,10034,911
Equity
Equity, attributable to parent, including:52,4072,7775,8156,44510,46917,918
Common stock351411111111
Additional paid in capital92,52732,5486,3586,3216,2826,116
Accumulated other comprehensive income (loss) 220(341)(328)(273)(303)(320)
Retained earnings (accumulated deficit)(40,375)(29,444)(226)3864,47912,111
Other undisclosed equity, attributable to parent (0)     
Other undisclosed equity 0     
Total equity:52,4072,7775,8156,44510,46917,918
TOTAL LIABILITIES AND EQUITY:67,75111,65424,41332,44224,56952,829

Income Statement (P&L) ($ in thousands)

6/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues3,4041204,5673,1738,49512,922
Cost of revenue (1,359)(2,287)(1,862)(2,579)(1,247)
Other cost of operating revenue (1,359)(1)(0)(5) 
Other undisclosed gross profit(783)1,359    
Gross profit:2,6211202,2801,3115,91711,675
Operating expenses (13,568)(3,845)(4,964)(12,575)(13,507)
Other undisclosed operating loss(12,975)     
Operating loss:(10,354)(13,448)(1,566)(3,652)(6,658)(1,832)
Nonoperating income (expense)1(0)965(367)(1,453)1,113
Investment income, nonoperating      
Gain (loss), foreign currency transaction, before tax   889(247)(1,337)1,137
Other nonoperating income (expense) (0)240(63)458577
Interest and debt expense  1,331(163)(57)(290)(284)
Other undisclosed income from continuing operations before equity method investments, income taxes      
Loss from continuing operations before equity method investments, income taxes:(10,353)(12,117)(763)(4,077)(8,402)(1,002)
Other undisclosed income (loss) from continuing operations before income taxes (1,331) 57290284
Loss from continuing operations before income taxes:(10,353)(13,448)(763)(4,020)(8,112)(719)
Income tax expense (benefit)(256) (13)(73)480(343)
Loss from continuing operations:(10,609)(13,448)(776)(4,093)(7,632)(1,062)
Income (loss) before gain (loss) on sale of properties:(30,074)(776)(4,093)(7,632)(1,062)
Income (loss) from discontinued operations(322)(16,626)    
Other undisclosed net income  16,626    
Net income (loss):(10,931)(13,448)(776)(4,093)(7,632)(1,062)
Other undisclosed net income (loss) attributable to parent  (16,626)163   
Net income (loss) available to common stockholders, diluted:(10,931)(30,074)(613)(4,093)(7,632)(1,062)

Comprehensive Income ($ in thousands)

6/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):(10,931)(13,448)(776)(4,093)(7,632)(1,062)
Other comprehensive loss  (0)    
Comprehensive income (loss):(10,931)(13,448)(776)(4,093)(7,632)(1,062)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent561(16,639)1083018763
Comprehensive income (loss), net of tax, attributable to parent:(10,370)(30,087)(668)(4,063)(7,614)(298)

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.

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