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Wiseman Global Limited,(WISM) a financial services company, has released its condensed consolidated financial statements for the nine months ended September 30, 2021. The company reported a net loss of $292,153 and generated revenue of $117,595 during the period. The financial statements provide a comprehensive overview of the company's assets, liabilities, stockholders' equity, and cash flows.
The condensed consolidated balance sheets of Wiseman Global Limited reveal the company's assets and liabilities as of September 30, 2021, and December 31, 2020. The company's current assets amounted to $1,310,733, including cash and cash equivalents of $90,313, accounts receivable of $78,275, and inventories of $406,053. Additionally, non-current assets were recorded at $179,707, primarily consisting of right-of-use assets and property, plant, and equipment.
On the liabilities side, the company's current liabilities totaled $667,943, including other payables and accrued liabilities of $206,957, income tax payable of $321,403, and lease liability of $67,054. Non-current liabilities amounted to $113,124, primarily related to lease liability.
During the three months and nine months ended September 30, 2021, Wiseman Global Limited reported revenue of $583 and $117,595, respectively. The company's cost of revenue was $10 and $62,049 for the respective periods, resulting in a gross profit of $573 and $55,546. After considering other income, netting $640 and $8,836, and operating expenses, amounting to ($103,217) and ($348,104), the company recorded a loss from operation before income tax of ($102,004) and ($283,722) for the three and nine months ended September 30, 2021, respectively.
Wiseman Global Limited's stockholders' equity as of September 30, 2021, amounted to $709,373. It consists of common stock, additional paid-in capital, accumulated other comprehensive income, and accumulated deficit. The company reported a comprehensive loss of ($100,899) and ($282,472) for the three and nine months ended September 30, 2021, respectively.
In terms of cash flows, the company generated net cash provided by operating activities of $128,713 for the nine months ended September 30, 2021. Cash used in investing activities amounted to ($124,983), mainly due to advances to related parties. The company also received net cash provided by financing activities of $18,176 during the same period. The ending balance of cash and cash equivalents as of September 30, 2021, was $90,313. These unaudited financial statements provide valuable insights into Wiseman Global Limited's financial performance, highlighting the net loss incurred, revenue generated, and the company's liquidity position. The accompanying notes to the financial statements offer further details and explanations regarding the presented figures.