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Equity Method Investment

3 Months Ended

Jul. 31, 2023

Equity Method Investments and Joint Ventures [Abstract]

Equity method investment

8. Equity method investment

On June 27, 2023, the Company invested $1,440,000 for 40% interest in HKGF Market of Arcadia, LLC (“HKGF Arcadia”). The Company recorded $28,456 investment loss for the three months ended July 31, 2023. As of July 31, 2023, the Company had investment of $1,411,544 into HKGF Arcadia.

As of July 31, 2023, the Company had net accounts receivable of $149,989 from JC Business Guys, Inc. (“JCBG”), who is the 60% owner of HKGF Arcadia. For the three months ended July 31,2023 and 2022, total sales to JCBG was $0 and $85,387, respectively.

HKGF ARCADIA
BALANCE SHEET

		July 31, 2023
		(Unaudited)
ASSETS
Current Assets
Cash and equivalents		$	86,395
Accounts receivable			10,696
Inventories, net			425,133
Total Current Assets			522,224
Property and equipment, net			426,786
Intangible asset, net			6,031
Goodwill			1,680,000
Security deposits			159,589
Total Assets		$	2,794,630

		July 31, 2023
		(Unaudited)
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current Liabilities
Accounts payable		$	1,039,292
Accrued expenses and other payables			3,400
Total Current Liabilities			1,042,692
Total Liabilities			1,042,692
Stockholders’ Equity
Paid in Capital			3,440,000
Subscription receivable			(1,300,000	)
Accumulated deficit			(388,062	)
Total Stockholders’ Equity			1,751,938
Total Liabilities and Stockholders’ Equity		$	2,794,630

The following table shows the condensed statement of operations of HKGF Arcadia for the period from July 1, 2023 to July 31, 2023,

		For the period from July 1, 2023 to July 31, 2023,
Net Revenues
Supermarket		$	577,824
Total Revenues, Net			577,824
Cost of Revenues
Supermarket			428,535
Total Cost of Revenues			428,535
Gross Profit			149,289
Operating Expenses			220,430
Total Operating Expenses			220,430
Loss from Operations			(71,141	)
Income (Loss) Before Income Taxes			(71,141	)
Income Tax Provisions			—
Net Loss			(71,141	)
Net Loss Attributable to Maison Solutions Inc.		$	(28,456	)

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- References

No definition available.

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- Definition

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 323
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481543/323-740-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 323
-Publisher FASB
-URI https://asc.fasb.org//323/tableOfContent

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