LDSN — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2025-05-12

• Following the global stabilization of the COVID-19 pandemic, the Company continues to assess any lingering impacts on workforce dynamics and supply chain resilience. However, attention has increasingly shifted toward addressing broader economic uncertainties, particularly the volatility in interest …

• Monetary authorities across Southeast Asia, including Bank Negara Malaysia and the Monetary Authority of Singapore, have adjusted their policies in response to persistent inflationary pressures and broader macroeconomic developments. The rise in interest rates presents a potential risk to the Compan…

• The Company remains vigilant in closely monitoring interest rate trends and their potential influence on client budgets and market demand. We continue to adopt proactive measures to mitigate these risks, ensuring our business remains resilient and responsive to the evolving economic landscape.

• We believe that the Company can generate sufficient cash flow over the next 12 months to implement the revised business plan. We believe that we will need approximately $1.5 million to implement our revised business plan for the 12 months thereafter.

• Income Tax Expense. There were no income tax expenses in 1Q2025 and 1Q2024.

Text removed vs the prior filing · source: 10-Q · 2024-10-31

• We were incorporated under the laws of the State of Delaware on March 6, 2014, under the name “Jovanovic-Steele, Inc.” Our name was changed to Baja Custom Designs, Inc. on October 26, 2017. On May 8, 2020, we acquired Luduson Holding Company Limited, a limited liability company organized under the l…

• We are a Delaware holding company principally engaged in the business of building and fostering relationships between leading influencers and brands. We focus on identifying and partnering with top influencers across a range of industries and social media platforms, through partnering with movie stu…

• Our goal is to supercharge influencers through Influencer Content Centers, Cinema for movies and special content, Game Halls (including VR, AR, MR games), Comic and Animation Museum, Online Live Concert Stadium and Travel Sharing Center projects. Our target is to build an online and offline ecosyste…

• We are a group of Creators, experienced KOL managers, movie producers, directors, screenwriters, and a group of classic game developers, born in Hong Kong from 1970s to 1990s. Our team has deep experience in game production and platform development. We are familiar with developing VR, AR and MR expe…

• Gross Profit. There was no gross profit reported in 3Q2024 and 3Q2023.

Text added vs the prior filing · source: 10-Q · 2025-05-12

• While The Company has not yet formally adopted a comprehensive cybersecurity policy and process for assessing, identifying, and managing material risks from cybersecurity threats, the Company acknowledges the increasing threats posed by cyber-attacks, data breaches, ransomware, and other forms of ma…

• Currently, the Company addresses cybersecurity through the following general practices:

• The Company is actively monitoring potential cybersecurity risks, including external cyber threats and internal vulnerabilities, using available resources and tools. We are committed to keeping abreast of emerging cybersecurity trends to better identify and assess risks to our systems.

• The Company enforces basic security measures within the organization, such as password protocols, access controls, and employee awareness regarding secure data handling. Employees are encouraged to be vigilant about cybersecurity threats, including phishing and unauthorized access attempts.

• Although a formalized response plan has not yet been adopted, the Company is aware of the importance of being prepared for potential cybersecurity incidents. The Company is taking steps to develop an incident response framework to ensure a timely and effective reaction in the event of a cyber breach…

Text added vs the prior filing · source: 10-Q · 2025-05-12

• On February 10, 2025, the Company’s Board of Directors approved the engagement of Pengsheng Certified Public Accountants as the Company’s new independent auditor for the fiscal year ending December 31, 2025. The appointment of Pengsheng Certified Public Accountants was made to support the Company’s …

• There were no disagreements or reportable events with the Company’s prior auditor on any matter of accounting principles, financial statement disclosure, or auditing scope or procedures that would have caused the prior auditor to make reference to such matters in its reports.

• The Company has not yet adopted a formal Officer and Director Trading Policy. However, we recognize the importance of having clear guidelines for the trading of Company securities by our directors, officers, and employees.

• In the absence of a formal policy, the Company relies on the provisions of federal securities laws, which prohibit trading by insiders based on material nonpublic information (MNPI). Directors, officers, and employees are advised to exercise caution when engaging in transactions involving the Compan…

• In the future, the Company intends to formalize an Officer and Director Trading Policy, which will address, among other things:

Text removed vs the prior filing · source: 10-Q · 2024-10-31

• During the quarter ended September 30, 2024, no director or officer of the Company adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K.