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Conectisys Corp. (CONC0.00%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing indicates that Conectisys Corp. has not generated any revenue since 2008 and continues to operate as a shell company. The company is seeking to merge with another entity to create value for its shareholders.
The balance sheet shows total liabilities of $45,714 and a stockholders' deficit of the same amount as of September 30, 2024. The company has no assets and minor unsecured liabilities.
The statement of operations reports net earnings of $11,320 for the three months ended September 30, 2024, compared to a net loss of $1,300 for the same period in 2023.
The company has no full-time employees, and its sole director and officer is Danilo Cacciamatta.
Conectisys Corp. plans to seek additional capital to fund operations and pursue merger opportunities. The company acknowledges the risk of dilution to existing shareholders if a merger is completed.
The filing includes a cautionary note regarding forward-looking statements, emphasizing the uncertainties and risks associated with the company's business plan.
Conectisys Corp. has no off-balance sheet arrangements and is not involved in any legal proceedings.
The company has 888,579 shares of common stock issued and outstanding as of November 1, 2024, with no preferred shares issued.
The filing concludes with certifications required by the Sarbanes-Oxley Act of 2002 and other exhibits.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Conectisys Corp. quarterly 10-Q report dated November 12, 2024. To report an error, please email earnings@qz.com.