Maitong Sunshine Cultural Development Co., Ltd

Tiny Nevada-shell China cultural-tourism micro-cap with essentially no cash and negative working capital despite near-breakeven operations.

Strengths

• Gross margin 41% (49th pct) and small positive operating margin 6.3% (60th pct)
• High interest coverage (98th pct); minimal debt

Risks

• Cash of just $4,432 with $675k annual operating cash outflow — near cash-out, negative working capital
• China/Nevada micro-cap governance red flags; reliant on undocumented related-party funding from the CEO
• Negative ROE (-46%, 23rd pct) and ROA (-4.8%); no brand or scale advantage

Notable findings

• Net lossNet loss (net margin -1.5%)
• Weak liquidityCurrent ratio 0.92 (<1)
• Revenue declineRevenue -97.4% YoY