M&A - NFiniTi inc.

Form Type: 10-Q

Filing Date: 2025-03-18

Corporate Action: Acquisition

Type: Update

Accession Number: 000147793225001806

Filing Summary: NFiniTi inc., a Nevada-based company originally formed to engage in oil and gas properties, has transitioned its primary business focus following a reverse acquisition of Artisan Beverages, Inc. This new business now highlights the production of alcoholic beverages, specifically ready-to-drink cocktails under the TGI Fridays brand. The first quarter ending January 31, 2025, reported no revenue generated, incurring a net loss of $924, and maintained a cash balance of $0 with substantial liabilities totaling $157,363 in stockholders' deficit. The management is pursuing additional funding to support operations, relying on loans from its president and shareholders. Despite limited operations, the company is expected to invest in marketing and professional fees to enhance its business strategy and distribution network in the alcoholic beverage sector. The management issued a going concern opinion regarding the financial health and operational viability of the company, contingent on future funding efforts and operational profitability.

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Form Type: 8-K

Filing Date: 2025-02-13

Corporate Action: Acquisition

Type: New

Accession Number: 000147793225000944

Filing Summary: On February 10, 2025, NFiniTi inc. entered into a Share Exchange Agreement with Artisan Beverages, Inc., which was subsequently completed on February 13, 2025. Under this agreement, NFiniTi inc. issued 15,788,578,500 shares of common stock in exchange for all outstanding shares of Artisan Beverages, consolidating the latter as a wholly-owned subsidiary. This acquisition represents 99.2% of NFiniTi’s outstanding shares and signifies a significant corporate restructuring, transitioning the company from a shell to a functioning entity within the alcoholic beverage industry. Brian Johnston was appointed as the new President and CEO, while Michael Noble resigned from his executive positions but retained his role as a director. Artisan Beverages specializes in producing ready-to-drink cocktails and holds exclusive rights to manufacture TGI Fridays-branded beverages. The company plans to initiate production in the eastern United States and Mexico, with future expansion into Central America. The financial positioning reflects challenges, including substantial losses and a warning regarding continued operations as a going concern. The completion of this acquisition changes NFiniTi’s operational dynamics, enhancing its market potential in the beverage industry.

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