ADM Endeavors, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>ADM Endeavors, Inc. has filed its 2023 10-K report detailing its financial performance and business operations.</b>

AI Summary

ADM ENDEAVORS, INC. (ADMQ) filed a Annual Report (10-K) with the SEC on April 16, 2024. ADM Endeavors, Inc. filed its 10-K for the fiscal year ending December 31, 2023. The company operates in the Services-Advertising sector (SIC 7310). Key segments include School Uniforms and Promotional Sales. The filing covers financial data for the periods ending December 31, 2023, and December 31, 2022. The company is incorporated in Nevada.

Why It Matters

For investors and stakeholders tracking ADM ENDEAVORS, INC., this filing contains several important signals. This 10-K filing provides a comprehensive overview of ADMQ's financial health and operational activities for the fiscal year 2023, crucial for investors assessing its performance and future prospects. The report details segment performance in School Uniforms and Promotional Sales, offering insights into the company's revenue streams and market focus.

Risk Assessment

Risk Level: medium — ADM ENDEAVORS, INC. shows moderate risk based on this filing. The company's reliance on a limited number of vendors for sales and accounts payable, as indicated by the 'ThreeVendorMember' context, presents a medium risk due to potential supply chain disruptions.

Analyst Insight

Investors should analyze the company's strategies for mitigating supplier concentration risk and assess the impact on future revenue and operational stability.

Revenue Breakdown

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed Period of Report)
• 2024-04-16 — Filing Date (Filed as of Date)
• 7310 — SIC Code (Services-Advertising)
• 000-56047 — SEC File Number (Filing Information)

Key Players & Entities

• ADM ENDEAVORS, INC. (company) — FILER
• ADMQ (company) — Central Index Key
• 7310 (dollar_amount) — Standard Industrial Classification
• NV (company) — State of Incorporation
• 2023-12-31 (date) — Conformed Period of Report
• 2024-04-16 (date) — Filed as of Date
• ThreeVendorMember (company) — Supplier Concentration Risk
• JustRightProductsIncMember (company) — Acquisition Context

FAQ

Risk Factors

• Supplier Concentration Risk [medium — financial]: The company faces supplier concentration risk, with 'ThreeVendorMember' identified as a significant factor for both sales revenue and accounts payable in 2023 and 2022.

Key Dates

• 2023-12-31: Fiscal Year End — End of reporting period for the 10-K.
• 2024-04-16: 10-K Filing Date — Date the annual report was officially filed with the SEC.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This filing provides the primary financial and business overview for ADM Endeavors, Inc. for the fiscal year 2023.)

SchoolUniformMember

A business segment related to the sale of school uniforms. (Indicates a specific area of revenue generation for ADM Endeavors, Inc.)

Key Financial Figures

• $23 billion — d greatly, with annual revenues of over $23 billion and growth of over 3% per year, the ind
• $6,500 — nd is leased at a cost of approximately $6,500 per month. The lease, which is on a mon
• $5 — ty securities with a price of less than $5.00, other than securities registered on
• $0.001 — 300,000,000 shares of common stock with $0.001 par value and 30,000,000 shares of pref

Filing Documents

• form10-k.htm (10-K) — 827KB
• ex31-1.htm (EX-31.1) — 14KB
• ex31-2.htm (EX-31.2) — 14KB
• ex32-1.htm (EX-32.1) — 9KB
• ex32-2.htm (EX-32.2) — 9KB
• audit_001.jpg (GRAPHIC) — 4KB
• audit_002.jpg (GRAPHIC) — 3KB
• 0001493152-24-014869.txt (&nbsp;) — 4204KB
• admq-20231231.xsd (EX-101.SCH) — 32KB
• admq-20231231_cal.xml (EX-101.CAL) — 53KB
• admq-20231231_def.xml (EX-101.DEF) — 172KB
• admq-20231231_lab.xml (EX-101.LAB) — 274KB
• admq-20231231_pre.xml (EX-101.PRE) — 229KB
• form10-k_htm.xml (XML) — 441KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 7 Item 1B. Unresolved Staff Comments 7 Item 1C. Cybersecurity. 7 Item 2.

Properties

Properties 7 Item 3.

Legal Proceedings

Legal Proceedings 8 Item 4. Mine Safety Disclosures 8 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 8 Item 6.

Selected Financial Data

Selected Financial Data 10 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 10 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 13 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 13 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 29 Item 9A.

Controls and Procedures

Controls and Procedures 29 Item 9B. Other Information 30 PART III Item 10. Directors, Executive Officers and Corporate Governance 30 Item 11.

Executive Compensation

Executive Compensation 33 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 34 Item 13. Certain Relationships and Related Transactions, and Director Independence 3 6 Item 14. Principal Accounting Fees and Services 36 PART IV Item 15. Exhibits, Financial Statement Schedules 36 2 Forward-Looking Information This Annual Report of ADM Endeavors, Inc. on Form 10-K contains forward-looking statements within the meaning of Rule 175 of the Securities Act of 1933, as amended, and Rule 3b-6 of the Securities Act of 1934, as amended, that involve substantial risks and uncertainties. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about our industry, our beliefs and our assumptions. Words such as "anticipate," "expects," "intends," "plans," "believes," "seeks" and "estimates" and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. You should not place undue reliance on these forward-looking statements, which apply only as of the date of this Form 10-K. Investors should carefully consider all of such risks before making an investment decision with respect to the Company's stock. The following discussion and analysis should be read in conjunction with our financial 3 PART I ITEM 1. BUSINESS The Company On January 4, 2001, ADM Endeavors, Inc. ("ADM Endeavors," or the "Company," "we," "us," or "our") was incorporated in North Dakota as "ADM Enterprises, Inc." On May 9, 2006, the Company changed its name to "ADM Endeavors, Inc." and its domi

CYBERSECURITY

ITEM 1C. CYBERSECURITY Our board of directors and senior management recognize the critical importance of maintaining the trust and confidence of our clients, business partners and employees. Our management, led by our Chief Executive Officer and Chief Financial Officer, are actively involved in oversight of our risk management efforts, and cybersecurity represents an important component of the Company's overall approach to enterprise risk management ("ERM"). Our cybersecurity processes and practices are fully integrated into the Company's ERM efforts. In general, we seek to address cybersecurity risks through a cross-functional approach that is focused on preserving the confidentiality, security and availability of the information that we collect and store by identifying, preventing and mitigating cybersecurity threats and effectively responding to cybersecurity incidents when they occur. In addition, we regularly review cybersecurity trends and, partially as a result of our prior cybersecurity exposure, have moved some of our internal servers to off-site locations. Risk Management and Strategy As one of the critical elements of our overall ERM approach, our cybersecurity efforts are focused on the following key areas: Governance: Management oversees cybersecurity risk mitigation and reports to the board of directors any cybersecurity incidents. Collaborative Approach: We have implemented a cross-functional approach to identifying, preventing and mitigating cybersecurity threats and incidents, while also implementing controls and procedures that provide for the prompt escalation of certain cybersecurity incidents so that decisions regarding the public disclosure and reporting of such incidents can be made by management in a timely manner. Technical Safeguards : We deploy technical safeguards that are designed to protect our information systems from cybersecurity threats, including firewalls, intrusion prevention and detection systems, anti-malware functi

View Full Filing

View this 10-K filing on SEC EDGAR