Yoshiharu Global Co

NASDAQ:YOSHUnited States

NASDAQ FSI:D. Deficient (Issuer failed to meet continued listing requirements)

Nov 19, 2024

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• -- Earnings Flash (YOSH) YOSHIHARU GLOBAL CO. Reports Q3 Revenue $3M, from 4:54PM ET on Tuesday Nov 19, 2024 by MT Newswires

  4:54PM ET on Tuesday Nov 19, 2024 by MT Newswires
  Companies Mentioned: YOSH
  04:54 PM EST, 11/19/2024 (MT Newswires) -- ...

• Press Release: Yoshiharu Reports Third Quarter 2024 Financial Results, from 4:54PM ET on Tuesday Nov 19, 2024 by Dow Jones

  4:54PM ET on Tuesday Nov 19, 2024 by Dow Jones
  Companies Mentioned: YOSH

• Yoshiharu Reports Third Quarter 2024 Financial Results, from 4:54PM ET on Tuesday Nov 19, 2024 by Dow Jones

  4:54PM ET on Tuesday Nov 19, 2024 by Dow Jones
  Companies Mentioned: YOSH
  Total revenue 9,152,530 6,714,429 3,015,525 2,025,386 ---------- ---------- ---------- --------- Restaurant operating expenses: Food, beverages and supplies 2,362,515 1,787,046 853,943 557,705 Labor 4,125,195 3,129,198 1,344,534 1,125,717 Rent and utilities 1,262,963 840,389 493,667 285,013 Delivery and service fees 398,986 415,139 118,070 130,189 Depreciation 596,701 396,388 246,374 144,701 ---------- ---------- ---------- --------- Total restaurant operating expenses 8,746,360 6,568,160 3,056,588 2,243,325 ---------- ---------- ---------- --------- Net operating restaurant operating income (loss) 406,170 146,269 (41,063) (217,939) ---------- ---------- ---------- --------- Operating expenses: General and administrative 2,953,755 2,700,078 935,591 477,732 Related party compensation 139,769 216,308 50,000 92,876 Advertising and marketing 80,955 86,593 22,391 34,051 ---------- ---------- ---------- --------- Total operating expenses 3,174,479 3,002,979 1,007,982 604,659 ---------- ---------- ---------- --------- Loss from operations (2,768,309) (2,856,710) (1,049,045) (822,598) Other income (expense): Gain on disposal of fixed asset - 8,920 - - Other income 12,207 14,774 - 7,784 Interest (413,598) (186,877) (161,472) (48,049) ---------- ---------- ---------- --------- Total other income (expense), net (401,391) (163,183) (161,472) (40,265) ---------- ---------- ---------- --------- Loss before income taxes (3,169,700) (3,019,893) (1,210,517) (862,863) Income tax provision 33,437 29,068 11,599 22,080 ---------- ---------- ---------- --------- Net loss $(3,203,137) $(3,048,961) $(1,222,116) $ (884,943) ========== ========== ========== ========= Loss per share: Basic and diluted $ (2.39) (2.29) (0.91) (0.67) ========== ========== ========== ========= Weighted average number of common shares outstanding: Basic and diluted 1,342,585 1,328,847 1,343,537 1,328,847 ---------- ---------- ---------- --------- Yoshiharu Global Co. Unaudited Consolidated Statements of Cash Flows For the nine months ended September 30, ----------------------------- 2024 2023 --------------- ----------- Cash flows from operating activities: Net loss $ (3,203,137) $(3,048,961) Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 596,701 396,388 Amortization 26,552 - Gain on disposal of fixed asset - (8,920) Changes in assets and liabilities: Accounts receivable (36,397) - Inventories (3,654) 390 Other assets 825,960 (564,775) Accounts payable and accrued expenses 199,483 (3,118) Due to related party 1,746,620 (142,106 Other payables 1,012,591 59,785 ----------- ---------- Net cash provided by (used in) operating activities 1,164,719 (3,311,317) ----------- ---------- Cash flows from investing activities: Purchases of property and equipment (437,042) (1,339,132) Acquisition of LV entities (1,800,000) - ----------- ---------- Net cash used in investing activities (2,237,042) (1,339,132) ----------- ---------- Cash flows from financing activities: Advance from line of credit - 500,000 Proceeds from borrowings for acquisition of LV entities 900,000 812,000 Proceeds from borrowings 1,138,164 - Repayments on bank notes payables (451,655) (645,280) Repayment of loan payable to financial institutions (414,300) - Proceeds from sale of common shares 149,852 - ----------- ---------- Net cash provided by financing activities 1,322,061 666,720 ----------- ---------- Net increase (decrease) in cash 249,738 (3,983,729) Cash -- beginning of period 1,462,326 6,138,786 ----------- ---------- Cash -- end of period $ 1,712,064 $ 2,155,057 ----------- ---------- Supplemental disclosures of non-cash financing activities: Note payable to related party $ 600,000 - Convertible notes to related party $ 1,200,000 - Supplemental disclosures of cash flow information Cash paid during the periods for: Interest $ 401,861 $ 186,877 Income taxes $ 33,437 $ 29,068 ----------- --