M&A - KENILWORTH SYSTEMS CORP

Form Type: 10-Q

Filing Date: 2025-05-19

Corporate Action: Acquisition

Type: Update

Accession Number: 000147793225003941

Filing Summary: Kenilworth Systems Corporation filed this quarterly report for the period ended March 31, 2025. The company is involved in the acquisition of DC Rental Portfolio LLC, to acquire 100% of its Membership Interests in exchange for 350,000,000 shares of common stock. The expected closing date for this acquisition is around May 30, 2025. As of May 6, 2025, Kenilworth had 83,654,525 shares of common stock outstanding. The financial statements indicate a total loss from operations of $(834) for the quarter, with net loss totaling $(45,834) compared to $(81,413) for the same period in the previous year. The company has faced significant financial challenges, with a substantial accumulated deficit of $(39,828,845) as of the end of the reporting period. Management plans to improve financial conditions through potential equity sales and debt financing. The financial health of the company raises concerns about its ability to continue as a going concern without these actions. Additionally, forward-looking statements caution about risks and uncertainties affecting financial performance.

Form Type: 10-K

Filing Date: 2025-04-14

Corporate Action: Acquisition

Type: New

Accession Number: 000147793225002666

Filing Summary: Kenilworth Systems Corporation completed a Share Exchange on September 30, 2023, acquiring a 60% interest in Regenecell, Inc., engaged in medical travel consulting and referral services. The transaction involved an exchange of shares in a tax-free format, where Kenilworth received 2,000,000 shares of its common stock in exchange for 600,000 shares of Regenecell. The company is focused on expanding Regenecell's operations. Significant details include plans to acquire DC Rental Portfolio LLC on or about April 15, 2025, in a deal that involves issuing 350,000,000 shares for 100% of DC Rental's membership interests. Following this acquisition, Kenilworth intends to rebrand as National Real Estate Ventures, Inc. and undergo a change in management. The properties of DC Rental are expected to hold an appraised value exceeding $100 million, with a focus on affordable housing solutions in the Washington, D.C. area. Financially, Kenilworth reported a net loss from operations amounting to $336,909 for the year ended December 31, 2024, and a continuing strategy to restructure for focusing on core business operations and maximizing shareholder value.

Form Type: 8-K

Filing Date: 2025-02-07

Corporate Action: Acquisition

Type: New

Accession Number: 000147793225000792

Filing Summary: On February 6, 2025, Kenilworth Systems Corporation entered into an Agreement and Plan of Reorganization with DC Rental Portfolio LLC to acquire 100% of the Membership Interests of DC Rental in exchange for 350,000,000 Shares of Common Stock. DC Rental, organized in the District of Columbia, owns multiple residential housing units in Washington, D.C., with the properties expected to have an appraised value of not less than $100,000,000 and equity of approximately $20,000,000 at closing, anticipated on or before March 15, 2025. Following the acquisition, the company will change its name to National Real Estate Ventures, Inc., and Richard Balles, the Managing Member of DC Rental, will assume the role of President and Chairman of the Board. This acquisition aims to capitalize on the affordable housing market in the Washington, D.C. area, targeting low to moderate-income households, and addressing the supply-demand imbalance in this sector. Effective March 1, 2025, a change of name as part of amendments to the Articles of Incorporation will reflect this shift in focus and ownership.