America Great Health reported its financial results for the fiscal year ending June 30, 2024, revealing a revenue increase to $294,670, up from $204,308 in the previous year. Despite this growth in sales, the company experienced a net loss of $1,226,362, compared to a loss of $777,340 in the prior fiscal year. The increase in net loss was attributed to higher costs of goods sold, which rose to $124,920 from $35,720, and a significant rise in operating expenses, which reached $952,450, up from $661,232. The company’s gross profit remained relatively stable at $169,750, compared to $168,588 in the previous year.
In terms of strategic developments, America Great Health has focused on expanding its presence in the healthcare sector through various initiatives. The company has made significant investments in joint ventures and acquisitions, including a 51% stake in Purecell Group, an anti-aging medical institution in Australia, and the establishment of a joint venture in China for stem cell-related products. However, the planned acquisition of real estate properties from Wang’s Property Investment & Management LLC was ultimately ceased, reflecting a shift in focus back to core healthcare operations.
Operationally, America Great Health reported a total of five full-time employees as of the report date, with additional personnel engaged as independent contractors. The company has also been exploring further acquisitions in the Asia Pacific region, aiming to capitalize on the growing demand for healthcare products and services in that market. As of June 30, 2024, the company had a working capital deficit of $3,367,989 and an accumulated deficit of $10,248,681, raising concerns about its liquidity and ability to continue as a going concern.
The company’s stock is traded on the OTC Bulletin Board under the symbol “AAGH,” with approximately 871 shareholders of record holding a total of 21,188,988,326 shares. America Great Health has not paid any dividends and intends to retain earnings for business use. The company is actively seeking additional capital to support its operations and achieve profitability, as indicated by its reliance on loans and advances from its majority shareholder.
Looking ahead, America Great Health aims to invest in innovative healthcare technologies, focusing on protein and peptide drug development, diagnostic devices, and regenerative medicine. The company acknowledges the challenges it faces, including recurring losses and liquidity issues, but remains committed to its strategic objectives in the healthcare sector.
About America Great Health
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