Business
ALL AMERICAN PET COMPANY, INC. ANNOUNCES ANNUAL RESULTS OF YEAR 2021
ALL AMERICAN PET COMPANY, INC. ANNOUNCES ANNUAL RESULTS OF YEAR 2021.
About this update from All American Pet Company, Inc.
[{"type":"text","content":"\n Xi’an, China, March 31, 2022 (GLOBE NEWSWIRE) -- All American Pet Company, Inc (OTC Pink: AAPT) (the “Company”, $AAPT), a Nevada Corporation, has today posted its annual results of operations. AAPT is currently under Alternative Reporting Standard.  PCAOB-registered auditor has been appointed and is in the process of auditing the financials based on US GAAP of its recently acquired 100% subsidiary in China – Kuora Industrial Interconnect.   “We are pleased with the result of Kuora for the past year,” Mr Lanwei Li, President and CEO of AAPT, comments. “We continue to add users and new customers to the platform.” The acquisition of Kuora by AAPT was announced finalized in September 2021 and it was anticipated that the 4th Quarter of Kuora operations would be included in the AAPT financials of 2021. However, the notarization by the embassy took longer than expected and by the time AAPT got registered as the sole shareholder of Kuora in China, it was end of December 2021.Because of that the 2021 financials of AAPT could not include any of the Kuora operations. Nevertheless, we are pleased to share some snapshots of Kuora 2021 financials (China GAAP) with shareholders and investors for information purpose. Note: Consolidated Income Statement of the Kuora Group in China The Company’s revenue was CNY 51m or US$8m and managed a small profit of CNY 22k or US$3.5k. All American Pet Company Inc has begun the process of name change to Kuora, Inc, if approved by the relevant authorities. For further information, please contact [email protected] ABOUT ALL AMERICAN PET COMPANY, INC. (“AAPT”) All American Pet Company, Inc. (OTC PINK: AAPT) is a Nevada-based holding company actively pursuing acquisitions across the globe.  On September 28, 2021, AAPT finalized its first major acquisition, investing $200 million to acquire 100% of the equity in Kuora Industrial Interconnect, an online services e-technology business that connects companies and individuals looking for industrial technical expertise in China. Kuora’s revenues stem from B2B, B2C and C2C transactions through its e-technology service. To date, Kuora has reached approximately 200,000 vertical users, over 1,000 experts and more than 3,000 enterprises since launching in 2018. The purchase gi...