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Equity Method Investment | 9 Months Ended
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Jan. 31, 2024
Equity Method Investment [Abstract] |
Equity method investment | 7. Equity method investment On June 27, 2023, the Company invested $1,440,000 for 40% interest in HKGF Market of Arcadia, LLC (“HKGF Arcadia”). On December 6, 2023, the Company invested additional $360,000 for another 10% equity interest in HKGF Arcadia, which resulted in a total of 50% equity interest in HKGF Arcadia by Maison. The Company recorded $51,204 investment income and $63,982 investment loss for the three and nine months ended January 31, 2024, respectively. As of January 31, 2024, the Company had investment of $1,736,018 into HKGF Arcadia. As of January 31, 2024, the Company had net accounts receivable of $69,107 from JC Business Guys, Inc. (“JCBG”), who is the 50% owner of HKGF Arcadia. For the three months ended January 31,2024 and 2023, total sales to JCBG was $0 and $0, respectively. For the nine months ended January 31,2024 and 2023, total sales to JCBG was $0 and $133,738, respectively. The following table shows the condensed balance sheet of HKGF Arcadia as of January 31, 2024.
|  | January 31, 2024 (Unaudited) |
ASSETS |  |  |
Current Assets |  |  |
Cash and equivalents |  | $ | — |
Accounts receivable |  |  | 37,256 |
Inventories, net |  |  | 625,719 |
Other receivables |  |  | 1,292 |
Total Current Assets |  |  | 664,267 |
Property and equipment, net |  |  | 635,102 |
Intangible asset, net |  |  | 27,731 |
Goodwill |  |  | 1,680,000 |
Security deposits |  |  | 163,618 |
Total Assets |  | $ | 3,170,718 |
LIABILITIES AND STOCKHOLDERS’ DEFICIT |  |  |  |
Current Liabilities |  |  |  |
Accounts payable |  | $ | 1,418,461 |
Other payable |  |  | 100,000 |
Bank overdraft |  |  | 94,822 |
Total Current Liabilities |  |  | 1,613,283 |
Total Liabilities |  |  | 1,613,283 |
Stockholders’ Equity |  |  |  |
Paid in Capital |  |  | 3,600,000 |
Subscription receivable |  |  | (1,200,000 | )
Accumulated deficit |  |  | (842,565 | )
Total Stockholders’ Equity |  |  | 1,557,435 |
Total Liabilities and Stockholders’ Equity |  | $ | 3,170,718 |
The following table shows the condensed statement of operations of HKGF Arcadia for the period from July 1, 2023 to January 31, 2024.
Net Revenues |  |  |
Supermarket |  | $ | 3,905,301 |
Total Revenues, Net |  |  | 3,905,301 |
Cost of Revenues |  |  |  |
Supermarket |  |  | 2,475,812 |
Total Cost of Revenues |  |  | 2,475,812 |
Gross Profit |  |  | 1,429,489 |
Operating Expenses |  |  | 1,553,857 |
Total Operating Expenses |  |  | 1,553,857 |
Loss from Operations |  |  | (124,368 | )
Income (Loss) Before Income Taxes |  |  | (124,368 | )
Income Tax Provisions |  |  | — |
Net Loss |  |  | (124,368 | )
Net Loss Attributable to Maison Solutions Inc. |  | $ | (63,982 | )

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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 + Details
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