Working Capital Efficiency
The data from Quater 3 in 2021 to Quater 2 in 2022 includes 3 quarters.

Liabilities on Revenue
Year 2021 Quarter 3: Liabilities on Revenue 43.37 (%).Trend:Decrease 32.24% than previous quarter
Year 2022 Quarter 1: Liabilities on Revenue 155.5 (%).Trend:Increase 258.54% than previous quarter
Year 2022 Quarter 2: Liabilities on Revenue 71.17 (%).Trend:Decrease 54.23% than previous quarter

Overall: increasing (64.1%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2021 Quarter 3: Current assets on Revenue 84.13 (%).Trend:Decrease 32.25% than previous quarter
Year 2022 Quarter 1: Current assets on Revenue 265.12 (%).Trend:Increase 215.13% than previous quarter
Year 2022 Quarter 2: Current assets on Revenue 121.29 (%).Trend:Decrease 54.25% than previous quarter

Overall: increasing (44.17%). Fluctuation: **Significant** (high variation).


Cost Efficiency
The data from Quater 3 in 2021 to Quater 2 in 2022 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2021 Quarter 3: Ratio of Retained Earnings to Revenue -255.02 (%).Trend:Decrease 30.63% than previous quarter
Year 2022 Quarter 1: Ratio of Retained Earnings to Revenue -653.34 (%).Trend:Increase 156.19% than previous quarter
Year 2022 Quarter 2: Ratio of Retained Earnings to Revenue -315.11 (%).Trend:Decrease 51.77% than previous quarter

Overall: decreasing (23.56%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2021 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 21.16 (%).Trend:Increase 5.91% than previous quarter
Year 2022 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 21.09 (%).Trend:Decrease 0.33% than previous quarter
Year 2022 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 20.7 (%).Trend:Decrease 1.85% than previous quarter

Overall: decreasing (-2.17%). Fluctuation: **Little** (low variation).


Invest Efficiency
The data from Quater 3 in 2021 to Quater 2 in 2022 includes 3 quarters.

Retained Earning on Assets
Year 2021 Quarter 3: Retained Earning on Assets -185.69 (%).Trend:Decrease 9.47% than previous quarter
Year 2022 Quarter 1: Retained Earning on Assets -139.64 (%).Trend:Decrease 24.8% than previous quarter
Year 2022 Quarter 2: Retained Earning on Assets -146.55 (%).Trend:Increase 4.95% than previous quarter

Overall: increasing (-21.08%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2021 Quarter 3: Earning Per Share -0.05 (USD).Trend:Decrease 72.22% than previous quarter
Year 2022 Quarter 1: Earning Per Share -0.14 (USD).Trend:Increase 180.0% than previous quarter
Year 2022 Quarter 2: Earning Per Share -0.21 (USD).Trend:Increase 50.0% than previous quarter

Overall: decreasing (320.0%). Fluctuation: **Significant** (high variation).



Financial analysis of Q3 2021 to Q2 2022 shows a complex picture.  Working capital efficiency metrics (liabilities and current assets on revenue) show an overall increasing trend, but with considerable quarter-to-quarter fluctuations.  Cost efficiency, as measured by the ratio of retained earnings to revenue, is decreasing overall, with significant variability.  SG&A expense ratio shows a slight decrease overall.  Investment efficiency is increasing overall, but with substantial quarterly changes. Earnings per share are decreasing with substantial volatility.