CXJ Group Co., Ltd (ECXJ) filed a 10-K reporting a 2025 net loss of $2,284,025 and an accumulated deficit of $7,647,505, raising substantial doubt about its ability to continue as a going concern. The company recorded full goodwill impairment charges that reduced goodwill to $0 and recognized prior-year intangible impairment of $1,155,802. Operating results show significant operating expense levels and shrinking prepayments (from $325,931 to $37,520). The company operates in China through a VIE structure and discloses multiple China-related legal, regulatory and enforcement risks that could materially affect operations and investor protections. Balance sheet items include advanced received of $595,108, accrued expenses and other payables of $808,784, due to related parties of $369,259, and issued common shares of 102,270,517 outstanding. The filing documents related-party transactions, concentrated supplier relationships and continuing uncertainties over PRC laws and potential delisting or restrictions.
CXJ Group Co., Ltd. presents an amended quarterly report with condensed consolidated financials as of November 30, 2024 and May 31, 2024. The company reported an accumulated deficit of $5,548,740 at November 30, 2024 (vs. $5,363,480 at May 31, 2024). For the three months ended November 30, 2024 the company recorded a net loss of $143,693 (versus net profit $203,216 in the prior-year period). Net cash used in operating activities for the six months ended November 30, 2024 was $397,664. Goodwill balances remain at $1,742,577 with prior impairments totaling $1,049,984 (FY2024) and $641,050 (FY2023). Working capital items include accounts receivable $58,077, prepayments $327,069, advanced received $677,520 and accrued expenses and other payables $638,785. The filing discloses multiple private placements raising proceeds of $147,510, $105,128, $135,000 and $129,600, and a 51% equity sale of Xishijie for RMB1.
CXJ Group Co., Ltd. reported a much smaller net loss of $41,567 for the three months ended August 31, 2024 versus $506,209 in the prior-year quarter, while generating a $75,876 net cash inflow from operations. The company carried an accumulated deficit of $5,405,047 as of August 31, 2024 and maintained goodwill of $1,742,577, after prior-period impairment charges. Current liabilities exceeded $2.1 million, and accrued expenses increased, driven in part by short-term borrowings. The filing highlights restrictions on transferring cash from Chinese subsidiaries due to SAFE and foreign-exchange controls and notes going-concern uncertainties. Several related-party balances and VIE structures are disclosed along with private placements and small equity financings recorded as working capital.
CXJ Group Co., Ltd. amended quarterly report discloses balance sheet and cash flow details for periods ending February 28, 2025 and May 31, 2024. The company reports goodwill of $1,742,577 and an accumulated deficit of $5,613,378 as of February 28, 2025. During the nine months ended February 28, 2025 the company used $370,928 of net cash in operations. For the three months ended February 28, 2025 the company recorded a net loss of $64,638 compared with a net profit of $108,741 in the prior-year period. Several private placements raised working capital: proceeds of $147,510, $105,128, $135,000 and $129,600 from separate issuances. Current liabilities totaled $1,832,932 and $1,979,652 for the two referenced dates. The filing notes restrictions on transfers of cash from Chinese subsidiaries due to SAFE approvals and foreign exchange controls and discloses related-party balances and advances. The company continues to report material intangible asset impairment and accumulated impairment on intangibles.
CXJ Group Co., Ltd (ECXJ) filed a 10-K/A restating 2023 results and disclosing material losses and impairments. The company reported a net loss of $2,128,854 for the year ended May 31, 2024 and a restated net loss of $969,087 for 2023. Significant non-cash charges include a $1,049,984 goodwill impairment in 2024 (and prior impairment of $641,050) and an $1,155,802 impairment of intangible assets in 2024, leaving goodwill of $1,742,577 as of May 31, 2024.
Operating and liquidity signals include negative operating cash flows and large changes in advance receipts and accrued liabilities: advance received balances of $607,617 (2024) versus $1,909,456 (2023 restated), accounts receivable of $59,286, and prepayments of $325,931. The company recorded a correction that increased 2023 revenue by $79,834 and reduced advance received and accumulated other comprehensive income accordingly. Management also discloses going concern-related risks and reliance on related-party funding and equity subscriptions in subsequent events.