DH ENCHANTMENT, INC., a company primarily engaged in the sale of COVID-19 rapid antigen tester kits and earning commissions as an agent, has released its Form 10-Q report for the second quarter of 2024. The report provides insights into the company's financial performance and operational activities during this period.
Financial Highlights
- Revenue, net: $0 million, compared to $583 in the same period in 2023.
- Loss from Operations: $(38,431), reflecting a significant increase in operating expenses due to higher legal and professional fees.
- Net Loss: $(41,139), an increase from the previous year, driven by higher operating expenses.
- Net Loss Per Share – Basic and Diluted: $(0.00), unchanged from the previous year.
Business Highlights
- Revenue Segments: The company derives its revenue from the sale of COVID-19 rapid antigen tester kits and from commissions earned in its role as an agent. Revenue is recognized at a point in time for both roles as principal and agent.
- Geographical Performance: The company's operations are primarily conducted in Hong Kong, which influences its business, financial condition, and results of operations. All customers and vendors are located in Hong Kong.
- Future Outlook: The company is focused on improving profitability, the success of new business ventures, and securing continued financial support from its stockholders. Additionally, DH ENCHANTMENT, INC. is engaged in a pending Share Exchange Agreement with OLS Asia Corporation to expand into the logistics business.
SEC Filing: