M&A - Kashin, Inc.

Form Type: 10-Q

Filing Date: 2025-03-28

Corporate Action: Acquisition

Type: Update

Accession Number: 000168316825001999

Filing Summary: Kashin, Inc. filed its quarterly report for the period ended January 31, 2025. As of this date, the company reported total current assets of $200,000, primarily from an investment in Starlife. Current liabilities totaled $335,656, leading to stockholders' equity of $(135,656). The company recorded no revenue for the quarter, resulting in a net loss of $33,002, compared to a net loss of $13,237 for the same period last year. The report raised concerns about the company's ability to continue as a going concern due to significant accumulated losses and ongoing operational deficits. Additionally, a Share Exchange Agreement dated January 28, 2025, is outlined wherein Kashin, Inc. aims to acquire 100% of the shares of McConnell Moran Technology Corporation, making it a wholly owned subsidiary. This acquisition is intended to qualify for tax reorganization under section 368 of the Internal Revenue Code. The filing also discloses that the company's management has changed with Daniel LePointe stepping in as the new CEO and other executive roles. There is substantial uncertainty regarding the company's future operations without additional capital or revenue generation.

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Form Type: 8-K

Filing Date: 2025-02-05

Corporate Action: Acquisition

Type: New

Accession Number: 000168316825000715

Filing Summary: On January 30, 2025, Kashin, Inc. entered into a share exchange agreement with McConnell Technology LLP, an Alberta limited liability partnership. The agreement stipulates that Kashin, Inc. will transfer 85,000,000 common shares to the members of MT LLP in exchange for 100% of the outstanding membership interests of MT LLP, thus making Kashin, Inc. the sole shareholder of MMTC, which will become a wholly-owned subsidiary of Kashin. Furthermore, the report details appointments made on January 13, 2025, including Yvonne Stearns as Chief Financial Officer, David McConnell as Chairman of the Board, and Jason Meetsma as Vice President. Yvonne brings over 15 years of financial experience, David has a four-decade career in Oil & Gas, and Jason’s roles include management and operations at MMT.

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