M&A - ATLANTICA INC

Form Type: 10-Q

Filing Date: 2025-05-13

Corporate Action: Acquisition

Type: Update

Accession Number: 000154812325000035

Filing Summary: Atlantica Inc. filed its quarterly report for the period ending March 31, 2025, indicating a continuing effort to seek acquisition opportunities. The company has not performed material business activities since March 1997 and currently operates as a shell company with accumulated losses. For the first quarter of 2025, Atlantica reported no revenues and a net loss of $92,850, with total liabilities amounting to $5,740,680 against stockholders' deficit of the same amount. The company has been relying on support from Mirabella Holdings, LLC, its majority shareholder, to cover operational expenses. The company's plan of operation for the next 12 months includes exploring potential business acquisitions while the company remains non-operational. All financial statements were prepared in accordance with generally accepted accounting principles, although management expresses doubts about the company's ability to continue as a going concern without additional funding.