M&A - Kinetic Seas Inc.

Form Type: 10-Q

Filing Date: 2025-05-15

Corporate Action: Merger

Type: New

Accession Number: 000168316825003702

Filing Summary: Kinetic Seas Incorporated filed a 10-Q for the quarter ending March 31, 2025, reporting significant changes post-merger with Oncology Med, Inc. on January 5, 2025. The company, now focused on artificial intelligence and GPU cloud hosting, has seen a consulting revenue increase to $67,871 compared to $10,554 the previous year. However, expenses remain high, leading to a net loss of $223,891 for the quarter. After the merger, the company restructured its shares significantly, issuing 21,600,000 shares at $0.001 to new directors and employees, maintaining a substantial control in issued common shares. Kinetic Seas reflects a working capital deficit and total liabilities of $1,349,148 against total assets of $165,676, raising concerns about its going concern status and the necessity for future financing to sustain operations.

Form Type: 10-K

Filing Date: 2025-04-24

Corporate Action: Merger

Type: Update

Accession Number: 000168316825002782

Filing Summary: Kinetic Seas Incorporated underwent a merger with Oncology Med, Inc. on January 5, 2025, as part of a broader reorganization involving Oracle Nutraceuticals Company. This merger led to Kinetic Seas being the surviving entity. As part of this change, there was a significant shift in the company's direction towards artificial intelligence (AI) consulting, research and development, and software integration. The company appointed a new board of directors and issued 21,600,000 shares of common stock, resulting in a significant dilution of previous shareholders. Following the rebranding to Kinetic Seas, the company aims to lead in providing practical AI solutions, focusing heavily on consulting, product development, training, and educational offerings to facilitate the adoption of AI technologies across various businesses.