M&A - BlueOne Card, Inc.

Form Type: 10-Q

Filing Date: 2025-02-19

Corporate Action: Acquisition

Type: Update

Accession Number: 000149315225007591

Filing Summary: BlueOne Card, Inc. filed its quarterly report on Form 10-Q for the period ended December 31, 2024, providing financial statements and details regarding its operations. The company incorporated a significant acquisition on October 25, 2024, acquiring 60% of Millennium EBS, Inc. for 2,100,000 shares of its common stock and an additional cash consideration of $500,000 payable within 90 days. This strategic acquisition enhances BlueOne's position in the fintech sector, enabling it to offer advanced payment solutions globally. The report reflects a net loss of $699,138 for the nine months ending December 31, 2024, continuing a trend of operating losses since the company's inception. As of the end of the reporting period, the company's total assets were valued at $15.69 million, with significant goodwill from the acquisition. The company raises concerns regarding its ability to maintain operations in the future without substantial financial support.

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Form Type: 8-K

Filing Date: 2024-12-13

Corporate Action: Acquisition

Type: New

Accession Number: 000149315224050038

Filing Summary: On December 13, 2024, BlueOne Card, Inc. completed an acquisition involving the purchase of 3,600,000 shares of Common Stock from Millennium EBS, Inc. (MEI), constituting 60% of MEI's outstanding equity, in exchange for 2,100,000 shares of BlueOne's Common Stock. Additionally, a Cash Consideration of $500,000 is to be paid to the shareholder, Shinto Matthew, within 90 days of closing. This transaction was completed following the filing of Articles of Exchange, approved by the Company's Board of Directors. Consequently, MEI has become a subsidiary of BlueOne Card, Inc.

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