M&A - Born, Inc.

Form Type: 10-Q

Filing Date: 2025-01-13

Corporate Action: Merger

Type: Update

Accession Number: 000121390025002837

Filing Summary: Born, Inc. reported its quarterly financial results for the period ended March 31, 2024. The Company is currently classified as a smaller reporting company and has been operating without any current business activities generating revenue. As of January 13, 2025, there were 419,984,423 shares of common stock issued and outstanding. The Company is exploring potential business combinations, including a reverse merger, to restructure its operations. The management's focus is on identifying and possibly merging with an operating entity that can provide significant value. Born, Inc. has been under custodian management since July 2023 and has faced substantial financial challenges, including negative shareholders' equity and continued operating losses. The last significant transaction involving the Company was voided in February 2021. Management is in need of additional funding to sustain operations and is considering various financing options. There are significant risks involved due to the lack of current operations and management's negative outlook regarding the ability to continue as a going concern without raising additional capital.

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Form Type: 10-Q

Filing Date: 2025-01-13

Corporate Action: Acquisition

Type: Update

Accession Number: 000121390025002840

Filing Summary: Born, Inc. has filed a quarterly report for the period ending June 30, 2024, focusing on the company's financial condition and struggle to attain operational viability. The report indicates significant operating losses and a working capital deficit of $34,227 as of June 30, 2024. The company continues to explore opportunities for business combinations, specifically considering acquisitions or reverse mergers to regain operational status after years of dormancy. The management highlights the need to identify potential targets for acquisition while acknowledging risks associated with financial instability and the competitive landscape for acquiring struggling businesses. The report outlines a lack of revenue-generating operations and an ongoing reliance on financial support from David Lazar, its custodian, to sustain functions. Born, Inc. also reports a significant goodwill impairment of $87,670,010 due to a prior failed share exchange transaction with Alkeon Creators, Inc. The document concludes with an emphasis on the challenges faced in securing additional financing and operational stability moving forward.

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Form Type: 10-Q

Filing Date: 2025-01-13

Corporate Action: Acquisition

Type: Update

Accession Number: 000121390025002843

Filing Summary: Byrn, Inc. reports its quarterly financials for the period ended September 30, 2024. The company experienced a net loss of $25,905, continuing a trend of operational losses with significant issues in cash flow and paying off debts. It is classified as a smaller reporting company with concerns about its going concern status due to insufficient operational cash flow to meet its ongoing obligations. Management is exploring potential acquisition opportunities and restructuring efforts, but no definitive plan has been established. The company’s financial condition reflects liabilities exceeding assets, resulting in a substantial shareholder deficit. Notably, the document outlines cautionary notes regarding forward-looking statements, indicating efforts to merge or acquire other entities are under consideration, but fraught with risks related to financial stability and operational capacity.

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