M&A - brooqLy, Inc.

Form Type: 10-Q

Filing Date: 2025-05-20

Corporate Action: Acquisition

Type: New

Accession Number: 000147793225003993

Filing Summary: In this quarterly report for the period ended March 31, 2025, brooqLy, Inc. reports substantial losses and a major acquisition involving Aerospace Capital Partners, LLC. On February 25, 2025, major shareholders sold 18 million shares, or approximately 70.3% of the company, to Aerospace Capital Partners, marking a significant change in control. The company aims to pivot towards drone manufacturing and autonomous logistics, planning to raise new capital to support product development and operations. Financial challenges are evident, with a working capital deficit of $405,140 and no revenue generated in the reported period. The loss from operations was $493,852, primarily due to high operating and interest expenses. Despite recent efforts to establish various market partnerships, the company faces uncertainties regarding its ability to secure necessary funding for ongoing operations within the next twelve months. The report includes financial statements showing total assets of $110,883 and a stockholders' deficit of $405,141 at the end of the reporting period, reflecting management's concerns about the company's viability as a going concern in the near future.

Form Type: 10-K

Filing Date: 2025-04-01

Corporate Action: Acquisition

Type: Update

Accession Number: 000147793225002285

Filing Summary: On February 25, 2025, BrooQLy Inc. sold 18,000,000 shares of common stock to Aerospace Capital Partners, LLC (ACP), representing approximately 70.3% of its outstanding shares. This transaction allows ACP to become the controlling shareholder of the Company. The total purchase price was $360,000; $358,200 was used to settle the Company's existing liabilities, with $1,800 going to the sellers. ACP funded the purchase through loans from private investors. Additionally, a Convertible Promissory Note worth $358,200 was issued to ACP, with provisions for conversion into common or preferred stock based on future events. This change in control is pivotal for BrooQLy as it transitions towards a focus on drone technology and autonomous logistics, integrating its software platform into operations. The document further outlines the future business strategy and market focus, emphasizing expansion and innovation in the aerospace sector.