Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  OTC Bulletin Board - Other OTC  >  Umatrin Holding Ltd    UMHL

UMATRIN HOLDING LTD

(UMHL)
Delayed Quote. Delayed OTC Bulletin Board - Other OTC - 08/13 02:26:19 pm
0.018 USD   -10.00%
2016Umatrin Holding Limited Signs MOU with Fujian Jilong Jiya Engineering for Mixed Eco-Agriculture and Tourism Development
GL
SummaryQuotesChartsNewsCompany 
News SummaryMost relevantAll newsOfficial PublicationsSector news

UMATRIN : Management's Discussion and Analysis of Financial Condition and Results of Operations. (form 10-Q)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
08/14/2019 | 05:09pm EDT

The information set forth in this Management's Discussion and Analysis of Financial Condition and Results of Operations ("MD&A") contains certain "forwardlooking statements". Forwardlooking statements are statements other than historical information or statements of current condition. Some forwardlooking statements may be identified by use of terms such as "believes", "anticipates", "intends" or "expects". These forwardlooking statements relate to our plans, liquidity, ability to complete financing and purchase capital expenditures, growth of our business including entering into future agreements with companies, and plans to successfully develop and obtain approval to market our product. We have based these forwardlooking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs.

You should read the following discussion and analysis in conjunction with the Financial Statements and Notes attached hereto, and the other financial data appearing elsewhere in this report.

US Dollars are denoted herein by "USD", "$" and "dollars".



Overview


Umatrin Holding Limited (formerly known as Golden Opportunities Corporation) ("UMHL") was incorporated in the state of Delaware on February 2, 2005. UMHL was originally incorporated in order to locate and negotiate with a targeted business entity for the combination of that target company with the Company.

On January 6, 2016, UMHL acquired 80% of the equity interests of UMatrin Worldwide SDN. BHD. ("Umatrin") in exchange for the issuance of a total of 100,000,000 shares of its common stock to the two holders of Umatrin, Dato' Sri Eu Hin Chai and Dato' Liew Kok Hong. Immediately following the Share Exchange, the business of Umatrin became the business of UMHL. The Company's operation office remained in Malaysia and the business market will remain focus in Asia.

Umatrin, formerly known as OLC Worldwide SDN. BHD., was incorporated in Malaysia on July 22, 1993. Umatrin has curated nontoxic beauty, personal care to health and wellness products. We market our products through three primary methods: direct contact, online distribution and/or by our dealer program. We apply leading O2O (Online to Offline) marketing strategy to both retail and wholesale trade. We provide technology and services to enable consumers, merchants and other participants to conduct business in our cloud based trading system. We use advanced network technology and rigorous management system to create unlimited business brand space. Without allocating large sums of operating cost, it continuously introduces new products, combined with O2O internet business model and career opportunities.



Results of Operations


Comparison for the three months ended June 30, 2019 and 2018



Sales


For the three months ended June 30, 2019, the Company generated $439,167 in revenues, which has an increase of $367,212, or 510% compared to the three months ended June 30, 2018. This is due to increase in sales volume for Akero product series. The Company has been implementing new marketing strategies to improve sales. Hence, we have been repackaging the products

Gross profit and gross margin

The Company was able to generate a gross profit margin of $370,750 for the three months ended June 30, 2019, which has an increase of $307,783 or 488% compared to the three months ended June 30, 2018. This is due to increase in sales volume for new Akero product series which has higher profit margin.

Selling, general and administrative costs

Major operating costs include salaries and wages, advertising and promotional costs for the three months ended June 30, 2019 and 2018. Selling, general and administrative costs increased from $130,742 for the three months ended June 30, 2018 to $252,309 for the three months ended June 30, 2019. The increase is due to increase in operating cost such as increase in commission expenses, printing and stationeries. We have been repackaging the products and providing commissions to sales people.




         18

  Table of Contents




Net income


For the three months ended June 30, 2019, the Company had $112,414 in net profit as compared to $74,108 in net loss for the three months ended June 30, 2018, which was an increase in net profit of $186,522. The Company will continue to implement new marketing strategies to improve its financial position.

Comparison for the six months ended June 30, 2019 and 2018



Sales


For the six months ended June 30, 2019, the Company generated $593,966 in revenues, which has an increase of $448,753, or 309% compared to the six months ended June 30, 2018. This is due to increase in sales volume for Akero product series.




Gross profit and gross margin



The Company was able to generate a gross profit margin of $499,575 for the six months ended June 30, 2019, which has an increase of $372,727 or 293% compared to the six months ended June 30, 2018. This is due to increase in sales volume for new Akero product series which has higher profit margin.

Selling, general and administrative costs

Major operating costs include salaries and wages, advertising and promotional costs for the six months ended June 30, 2019 and 2018. Selling, general and administrative costs increased from $265,767 for the six months ended June 30, 2018 to $355,322 for the six months ended June 30, 2019. The increase is due to increase in operating cost such as increase in commission expenses, printing and stationeries. We have been repackaging the products and providing commissions to sales people.




Net income



For the six months ended June 30, 2019, the Company had $132,115 in net profit as compared to $151,622 in net loss for the six months ended June 30, 2018, which was an increase in net profit of $283,737. The Company will continue to implement new marketing strategies to improve its financial position.

Liquidity and Capital Resources

We had cash and cash equivalent of $151,544 and $36,431 as of June 30, 2019 and December 31, 2018, respectively.

Our company's operations have been funded through an equity financing and a series of debt transactions, primarily with shareholders, directors, and officers of our company and affiliated entities. These related party debt transactions such as advances have operated as informal lines of credit since the inception of our company, and related parties have extended credit as needed which our company has repaid at its convenience. We anticipate that we will incur operating losses in the foreseeable future and we believe we will need additional cash to support our daily operations while we are attempting to execute our business plan and produce revenues. If our related parties are unable or unwilling to provide additional capital, we would likely require financing from third parties. There can be no assurance that any additional financing will be available to us, on terms we believe to be favorable or at all. The inability to obtain additional capital would have a material adverse effect on our operations and financial condition and could force us to curtail or discontinue operations entirely and/or file for protection under bankruptcy laws.

The following table sets forth information about our net cash flow for the six months ended June 30, 2019 and 2018:



                                                        For the six months ended
                                                        June 30,          June 30,
                                                          2019              2018

Net cash provided by (used in) operating activities 180,313 (197,677 ) Net cash provided by (used in) investing activities (2,851 )

              -

Net cash provided by (used in) financing activities (61,385 ) 158,740




Operating Activities


For the six months ended June 30, 2019 we generated $180,313 in operating activities as compared to using $197,677 in operating activities during the six months ended June 30, 2018. The movement in net cash used in operating activities resulted from the movement in inventory, prepaid tax, other receivables and deposits, accounts payable and accrued expenses and other payables.




Investing Activities



During the six months ended June 30, 2019 we used $2,851 in investing activities as compared to using $nil in investing activities during the six months ended June 30, 2018. The movement in net cash used in investing activity resulted from purchase of equipment.




         19

  Table of Contents




Financing Activities



During the six months ended June 30, 2019, we used $61,385 in financing activities as compared to generating $158,740 in financing activities during the six months ended June 30, 2018.

During the six months ended June 30, 2019, the net cash provided by financing activities resulted from net repayment to related party of $51,859 and net repayment to term loan of $9,526.

During the six months ended June 30, 2018, the net cash provided by financing activities resulted from net proceeds received from related party of $168,562 and net repayment to term loan of $9,822.



Loan Commitment


On December 23, 2014, MYR 2,300,000 (approximately $657,507) term loan was granted to Umatrin for the purchase of four Story Shop Offices located at No.32, 32-1, 32-2, 32-3, Jalan Radin Bagus 3, Bandar Baru Seri Petaling, 57000, Kuala Lumpur with a repayment period of 240 months. This term loan was secured by (i) title deed for the said property, and (ii) way of guarantee by directors of the Company. This term loan is subject to an interest charges at 2.10% per annum below the Bank's Base Lending Rate ("BLR") with daily rests. The BLR is currently at 6.85% for both June 30, 2019 and December 31, 2018.

On July 27, 2015, the drawdown of MYR2,300,000 (approximately $609,554) was made and repayment effectively starts on December 1, 2015 with a fixed installment of MYR14,863.14 (approximately $3,561) for 240 installments.

Interest expenses were $12,138 and $12,703 for the six months ended June 30, 2019 and 2018, respectively.

We have no known demands or commitments and we are not aware of any events or uncertainties as of June 30, 2019 that will result in or that are reasonably likely to materially increase or decrease our current liquidity.

We had no material commitments for capital expenditure for the six months ended June 30, 2019 and 2018 except mentioned above.



Going Concern


Our financial statements have been prepared on a going concern basis. As reflected in the accompanying financial statements, the Company had accumulated deficit of $3,323,886 as of June 30, 2019 which include a profit of $132,115 for the six months ended June 30, 2019. We expect to finance our operations primarily through our existing cash, our operations and any future financing. However, there exists substantial doubt about our ability to continue as a going concern because we will be required to obtain additional capital in the future to continue our operations and there is no assurance that we will be able to obtain such capital, through equity or debt financing, or any combination thereof, or on satisfactory terms or at all. Additionally, no assurance can be given that any such financing, if obtained, will be adequate to meet our capital needs. If adequate capital cannot be obtained on a timely basis and on satisfactory terms, our operations would be materially negatively impacted. Therefore, our auditor has substantial doubt as to our ability to continue as a going concern. Our ability to complete additional offerings is dependent on the state of the debt and/or equity markets at the time of any proposed offering, and such market's reception of the Company and the offering terms. There is no assurance that capital in any form would be available to us, and if available, on terms and conditions that are acceptable.

© Edgar Online, source Glimpses

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on UMATRIN HOLDING LTD
08/14UMATRIN : Management's Discussion and Analysis of Financial Condition and Result..
AQ
05/15UMATRIN : Management's Discussion and Analysis of Financial Condition and Result..
AQ
04/16UMATRIN : Management's Discussion and Analysis of Financial Condition and Result..
AQ
2018UMATRIN : Management's Discussion and Analysis of Financial Condition and Result..
AQ
2016Umatrin Holding Limited Signs MOU with Fujian Jilong Jiya Engineering for Mix..
GL
More news
Chart UMATRIN HOLDING LTD
Duration : Period :
Umatrin Holding Ltd Technical Analysis Chart | MarketScreener
Full-screen chart
Managers
NameTitle
Hin Chai Eu Chairman, President, CEO & CFO
Kui Hwa Ang Director
Bi Shan Teoh Director
Ling Ching Teng Director
Wun Loong Lee Director & Vice President
Sector and Competitors
1st jan.Capitalization (M$)
UMATRIN HOLDING LTD-10.00%3
ULTA BEAUTY31.53%18 732
TRACTOR SUPPLY COMPANY19.08%11 850
NEXT40.87%8 730
GRANDVISION42.39%7 678
FIELMANN AG15.09%5 665