M&A - Ankam, Inc.

Form Type: 10-K

Filing Date: 2025-03-14

Corporate Action: Acquisition

Type: New

Accession Number: 000168316825001603

Filing Summary: Ankam, Inc. operates as a technology company focused on developing mobile applications, particularly the Expense Minder and MoneySaverApp. The company has taken significant steps to expand its operations, including the establishment of a wholly-owned subsidiary, Ankam LLC, and the acquisition of Apex Intelligence LLC on January 3, 2024, for $158,040, which included issuing a promissory note and common shares if the payment is not settled by the due date. On July 29, 2024, Ankam, Inc. approved the issuance of shares to convert outstanding debt of $138,040 into 230,067 shares at a conversion price of $0.60 per share. Additionally, on August 8, 2024, Ankam, Inc. completed a significant stock purchase agreement that resulted in a group of investors acquiring a controlling 77% stake in the company. The report outlines the company’s financial performance, with total revenue increasing from $27,173 in 2023 to $104,450 in 2024, and emphasizes ongoing operational challenges amid a growing revenue stream, including increased operating expenses and a significant accumulated deficit.

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