M&A - Ankam, Inc.

Form Type: 10-Q

Filing Date: 2025-04-23

Corporate Action: Acquisition

Type: New

Accession Number: 000168316825002743

Filing Summary: Ankam, Inc. filed its 10-Q quarterly report for the period ended February 28, 2025. The report highlights significant financial activity, including the acquisition of Apex Intelligence LLC for a total consideration of $158,040, fully described in the earlier notes. The Company also established a wholly-owned subsidiary, Ankam LLC, in November 2023, and transferred operations of its MoneySaverApp to this subsidiary. The financials show a revenue increase to $75,000 compared to $9,760 for the same period last year, with a net loss of $10,581. The report indicates a stockholder deficit of $334,690 as of the reporting date and notes that the Company is classified as a smaller reporting company and emerging growth company. Operational details project reliance on further investment to stabilize revenue streams due to ongoing losses and limited capital.

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.