WAI (WAI)
Top KingWin Ltd
NASDAQ:WAIFinancial Services · Financial - Capital Markets
Mkt Cap$6.04M
Float457K
O/S2.36M
Inst Own0.0%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$1.12M
Net Income-$3.34M
Total Assets$4.77M
Free Cash Flow-$182K
Debt & Equity
Equity 100%
Total Debt$0
Total Equity$4.34M
Shares Outstanding
Short Interest
Split History2 splits · 2 reverse
2-year cumulative
1:625Over cap
Past the 1:250 Nasdaq cap, ineligible for a bid-price compliance period
- 1:25Reverse splitSep 8, 202525 shares → 1
- 1:25Reverse splitMay 5, 202525 shares → 1
Balance Sheet Details
Assets$4.77M
Liabilities$428K
Accounts Receivable$130K
Accounts Payable$811K
Inventory$0
PP&E (Net)$4K
Goodwill$0
Intangible Assets$8K
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 |
| Revenue | $1.12M | $3.75M | $5.45M | $3.12M | $6.29M | $1.33M |
| YoY Growth | -70.2% | -31.2% | 74.5% | -50.4% | 371.9% | - |
| Cost of Revenue | $1.03M | $2.42M | $1.86M | $957K | $1.36M | $461K |
| Gross Profit | $86K | $1.33M | $3.59M | $2.17M | $4.94M | $873K |
| Gross Margin | 7.7% | 35.5% | 65.9% | 69.3% | 78.4% | 65.4% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $3.46M | $5.4M | $6M | $3.08M | $1.86M | $493K |
| Other | $0 | $3.06M | $79K | $0 | $35K | $0 |
| Total Operating Expenses | $3.46M | $8.46M | $6.08M | $3.08M | $1.89M | $493K |
| Operating Income (EBIT) | -$3.37M | -$7.13M | -$2.49M | -$920K | $3.04M | $380K |
| Operating Margin | -301.6% | -190.1% | -45.7% | -29.5% | 48.3% | 28.5% |
| Interest Expense | $0 | $0 | $0 | $0 | $0 | $0 |
| Interest Income | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Income (Expense) | $31K | -$962K | $50K | $27K | $43K | -$375 |
| Income Before Tax (EBT) | -$3.34M | -$8.09M | -$2.44M | -$893K | $3.09M | $379K |
| Income Tax Expense | $0 | $55K | $115K | -$121K | $777K | $40K |
| Net Income | -$3.34M | -$8.68M | -$2.55M | -$771K | $2.31M | $340K |
| Net Income Margin | -298.8% | -231.4% | -46.8% | -24.7% | 36.7% | 25.5% |
| Supplementary Data | ||||||
| EPS | -3.74 | -10.05 | -0.61 | -0.19 | 0.61 | 0.08 |
| Diluted EPS | -3.74 | -10.05 | -0.61 | -0.19 | 0.61 | 0.08 |
| Weighted Average OS | 892,314 | 590,000 | 590,000 | 590,000 | 590,000 | 590,000 |
| EBITDA | -$3.36M | -$4.14M | -$2.48M | -$855K | $3.08M | $389K |
| EBITDA Margin | -300.6% | -110.5% | -45.5% | -27.4% | 48.9% | 29.2% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 |
| Assets | ||||||
| Current Assets | ||||||
| Cash and Cash Equivalents | $1.87M | $2.81M | $4.59M | $2.65M | $3.82M | $171K |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $1.87M | $2.81M | $4.59M | $2.65M | $3.82M | $171K |
| Accounts Receivable | $130K | $1.11M | $534K | $194K | $963K | $732K |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $0 | $0 | $1.3M | $0 | $78K | $0 |
| Total Current Assets | $4.76M | $40.75M | $6.61M | $2.86M | $4.96M | $1M |
| Long-Term Assets | ||||||
| Property, Plant & Equipment Net | $4K | $761K | $598K | $773K | $896K | $790K |
| Goodwill | $0 | $0 | $2.97M | $0 | $0 | $0 |
| Intangible Assets | $8K | $63K | $39K | $31K | $20K | $0 |
| Long-Term Investments | $0 | $0 | $0 | $173 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $118K | $0 | $0 |
| Other Long-Term Assets | $0 | $0 | $13K | $1.31M | $0 | $0 |
| Total Long-Term Assets | $12K | $825K | $3.62M | $2.23M | $916K | $790K |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $4.77M | $41.58M | $10.24M | $5.09M | $5.88M | $1.79M |
| Liabilities | ||||||
| Current Liabilities | ||||||
| Accounts Payable | $811K | $582K | $528K | $264K | $838K | $274K |
| Short-Term Debt | $0 | $2.03M | $27K | $24K | $20K | $15K |
| Current Income Tax Payable | $0 | $15K | $65K | $38K | $508K | $95K |
| Current Unearned Revenue | $62K | $490K | $627K | $188K | $587K | $206K |
| Other Current Liabilities | -$1.31M | $0 | $31K | -$24K | -$20K | -$15K |
| Total Current Liabilities | $428K | $5.59M | $2.67M | $2.89M | $2.59M | $805K |
| Long-Term Liabilities | ||||||
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Liabilities | $0 | $282K | $162K | $373K | $494K | $540K |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $428K | $5.88M | $2.83M | $3.27M | $3.08M | $1.35M |
| Stockholders' Equity | ||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $21K | $18K | $1K | $1K | $1K | $10 |
| Retained Earnings | -$4.81M | -$9.61M | -$928K | $1.56M | $2.34M | $285K |
| Comprehensive Income & Other | $6K | $8K | $57K | $144K | $347K | $50K |
| Other Stockholders' Equity | $9.13M | $45.29M | $8.33M | $257K | $461K | $165K |
| Total Equity | $4.34M | $35.7M | $7.4M | $1.82M | $2.8M | $449K |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $4.77M | $41.58M | $10.24M | $5.09M | $5.88M | $1.79M |
| Supplementary Data | ||||||
| Total Debt | $0 | $2.59M | $381K | $562K | $645K | $654K |
| Net Debt | -$1.87M | -$222K | -$4.21M | -$2.09M | -$3.17M | $483K |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 |
| Operating Activities | ||||||
| Net Income | -$3.34M | -$8.68M | -$2.55M | -$771K | $2.31M | $340K |
| Depreciation & Amortization | $12K | $13K | $11K | $65K | $35K | $9K |
| Deferred Income Tax | $0 | $0 | $16K | -$121K | $0 | $0 |
| Stock-Based Compensation | $0 | $1.77M | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||
| Accounts Receivable | $39K | -$568K | -$300K | $678K | -$210K | -$705K |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $32K | $123K | $272K | -$588K | $551K | $259K |
| Other Working Capital | -$74K | -$36.52M | $904K | -$768K | $1.08M | $281K |
| Total Working Capital Change | -$3K | -$36.97M | $876K | -$678K | $1.42M | -$165K |
| Other Non-Cash Items | $3.15M | $4.48M | -$2K | $1.3M | $14K | $0 |
| Net Cash from Operating | -$180K | -$39.38M | -$1.65M | -$207K | $3.77M | $184K |
| Investing Activities | ||||||
| Capital Expenditures | -$1K | -$7K | -$76K | -$32K | -$132K | -$130K |
| Acquisitions | $67K | $54K | -$3.97M | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | -$240K | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $240K | $0 |
| Other Investing Activities | $0 | $289K | -$15K | $25K | -$20K | $0 |
| Net Cash from Investing | $65K | $335K | -$4.06M | -$7K | -$152K | -$130K |
| Financing Activities | ||||||
| Debt Repaid | - | - | - | - | - | - |
| Common Stock Issuance | $1.52M | $35.25M | $8.16M | $0 | $0 | $71K |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $38K | $69K | -$389K | $45K | $52K | $31K |
| Net Cash from Financing | $1.67M | $37.27M | $7.77M | $45K | $52K | $102K |
| Forex Effect | -$63K | -$61K | -$69K | -$60K | $49K | $10K |
| Net Change in Cash | $1.49M | -$1.83M | $1.99M | -$229K | $3.72M | $167K |
| Supplementary Data | ||||||
| Operating Cash Flow | -$180K | -$39.38M | -$1.65M | -$1.4M | $585K | $184K |
| Capital Expenditure | -$1K | -$54K | -$91K | -$46K | -$20K | -$130K |
| Free Cash Flow | -$182K | -$39.44M | -$1.74M | -$1.44M | $565K | $55K |
| Cash at Beginning | $386K | $4.65M | $2.65M | $3.9M | $171K | $4K |
| Cash at End | $1.87M | $2.81M | $4.65M | $2.65M | $3.9M | $171K |