Every 10-Q that MAITONG SUNSHINE CULTURAL (MGSD) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow MGSD and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full MGSD filings page.
Maitong Sunshine Cultural Development Co., Limited reported a severe contraction in activity for the nine months ended June 30, 2026. Revenue fell to $25,552 from $1,176,532 a year earlier, producing gross profit of only $12,378 and a net loss of $363,973 versus essentially breakeven previously.
Total assets declined to $211,003 while total liabilities were $438,835, resulting in a stockholders’ deficit of $227,832. Cash and cash equivalents were $15,189 with an additional $61,478 of restricted cash, and operating activities used $123,591 of cash, largely funded by $124,982 of interest-free related-party loans.
The company issued 3,625,000 unregistered shares as compensation and now has 64,125,000 common shares outstanding. Management attributes the revenue collapse to weak consumer demand and internal reorganization, and states that disclosure controls and procedures contained material weaknesses and were not effective as of June 30, 2026.
Maitong Sunshine Cultural Development reported a sharp downturn for the quarter and six months ended March 31, 2026. Quarterly revenue fell to $647 from $71,892, and six‑month revenue dropped to $25,552 from $1,094,047, reflecting a collapse in tour and product demand.
The company posted a net loss of $205,688 for the quarter and $326,289 for the six months, compared with a prior six‑month profit of $41,727. Rising operating expenses and much lower sales pushed stockholders’ equity to a deficit of $192,747 and created a working capital deficit, leaving the business dependent on $382,088 of interest‑free loans from its CEO and affiliated entities. Management also concluded that disclosure controls and procedures were not effective.
Maitong Sunshine Cultural Development Co., Limited reported a sharp deterioration for the quarter ended December 31, 2025. Revenue fell to $24,905 from $1,022,155 a year earlier, and the company swung from net income of $166,993 to a net loss of $120,601.
Gross profit dropped to $12,099 while selling, general and administrative expenses rose to $132,844, producing an operating loss. Total assets were $373,547, but the company had a stockholders’ deficit of $71,691 and a working capital deficit driven partly by $313,539 owed to related parties.
Management disclosed substantial doubt about the company’s ability to continue as a going concern, citing losses, limited cash of $32,914 and dependence on interest-free funding from its CEO and affiliates. Revenue is concentrated in China’s discretionary travel and cultural products market, which management says has been pressured by macroeconomic weakness and consumer pessimism.