Agentix Corp. Files 2024 10-K, Details Note Interest

TL;DR

Agentix 10-K filed: Note interest starts at 7.5%, jumps to 2%/month if unpaid. Watch this.

AI Summary

Agentix Corp. filed its 10-K for the fiscal year ending March 31, 2024, reporting on its operations and financial condition. The company, formerly FairWind Energy Inc., is now focused on biological products. The filing details financial information, including interest rates on a note that starts at 7.5% and increases to 2% per month if not paid in full.

Why It Matters

This filing provides crucial financial and operational updates for Agentix Corp., impacting investors' understanding of the company's current status and future prospects.

Risk Assessment

Risk Level: medium — The company's focus on biological products and the specific mention of a high-interest note suggest potential financial risks or a need for significant capital.

Key Numbers

• 40066951 — Total Assets (Indicates the company's asset base as of the fiscal year end.)
• 357102 — Net Income (Represents the company's profitability for the fiscal year.)
• 50000000 — Authorized Shares (Shows the maximum number of shares the company can issue.)

Key Players & Entities

• Agentix Corp. (company) — Filer of the 10-K
• FairWind Energy Inc. (company) — Former name of Agentix Corp.
• March 31, 2024 (date) — Fiscal year end for the 10-K filing
• 7.5% (dollar_amount) — Initial interest rate on a note
• 2% (dollar_amount) — Monthly interest rate on a note if not paid in full

FAQ

Key Financial Figures

• $0.001 — he Registrant's common stock, par value $0.001 per share, outstanding. AGENTIX CORP.
• $100,000,000 — er market approvals, and upon achieving $100,000,000 in worldwide sales. Additional paymen

Filing Documents

• agtx_10k.htm (10-K) — 554KB
• agtx_ex311.htm (EX-31.1) — 10KB
• agtx_ex312.htm (EX-31.2) — 10KB
• agtx_ex321.htm (EX-32.1) — 4KB
• agtx_ex971.htm (EX-97.1) — 33KB
• agtx_10kimg2.jpg (GRAPHIC) — 3KB
• 0001477932-24-005401.txt ( ) — 2265KB
• agtx-20240331.xsd (EX-101.SCH) — 21KB
• agtx-20240331_lab.xml (EX-101.LAB) — 146KB
• agtx-20240331_cal.xml (EX-101.CAL) — 28KB
• agtx-20240331_pre.xml (EX-101.PRE) — 115KB
• agtx-20240331_def.xml (EX-101.DEF) — 50KB
• agtx_10k_htm.xml (XML) — 166KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 11 Item 1B. Unresolved Staff Comments 11 Item 1C. Cybersecurity. 11 Item 2.

Properties

Properties 12 Item 3.

Legal Proceedings

Legal Proceedings 12 Item 4. Mine Safety Disclosures 12 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 13 Item 6.

Selected Financial Data

Selected Financial Data 13 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 14 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 16 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data F-1 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 17 Item 9A.

Controls and Procedures

Controls and Procedures 17 Item 9B. Other Information 18 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 18 PART III Item 10. Directors, Executive Officers and Corporate Governance 19 Item 11.

Executive Compensation

Executive Compensation 21 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 23 Item 13. Certain Relationships and Related Transactions, and Director Independence 24 Item 14. Principal Accounting Fees and Services 24 PART IV Item 15. Exhibits and Financial Statement Schedules 25 Item 16. Form 10-K Summary 25

Signatures

Signatures 26 2 Table of Contents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K of Agentix Corp., a Nevada corporation, contains "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as "may", "will", "should", "could", "expects", "plans", "intends", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of such terms and other comparable terminology. These forward-looking statements include, without limitation, statements about our market opportunity, the ability to protect our intellectual property, our strategies, competition, expected activities and expenditures as we pursue our business plan, and the adequacy of our available cash resources. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Actual results may differ materially from the predictions discussed in these forward-looking statements. The economic environment within which we operate could materially affect our actual results. Our management has included projections and estimates in this Form 10-K, which are based primarily on management's experience in the industry, assessments of our results of operations, discussions and negotiations with third parties and a review of information filed by our competitors with the SEC or otherwise publicly available. We caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. All references in this Form 10-K to the "Company", "Agentix", "we", "us," or "our" are to Agentix Corp. 3 Table of Content

Business

Item 1. Business. History The Company was incorporated in the State of Nevada on April 18, 2013 and has established a fiscal year end of March 31. Effective June 17, 2019, we changed our name from FairWind Energy, Inc. to Agentix Corp. and to better reflect the new focus of our business. We are a clinical development stage corporation with a focus on pharmaceutical treatments in the metabolic disease space and have not yet generated or realized meaningful revenues from our business. Until recently, our business plan focused on the design, engineering and manufacturing of composite products, specifically the supply products to the oil and gas industry. However, on May 28, 2020, entered into a Share Exchange Agreement (the "Share Exchange Agreement") with GSL Healthcare, Inc., a Nevada corporation ("GSL Healthcare"), and the holders of common stock of GSL Healthcare, which consisted of two stockholders. The closing date occurred on June 1, 2020. Under the terms and conditions of the Share Exchange Agreement, the Company offered and sold 27,932,271 shares of common stock of the Company in consideration for all of the issued and outstanding shares of common stock of GSL Healthcare. The effect of the issuance is that former two GSL Healthcare shareholders now hold approximately 88.0% of the issued shares of common stock of the Company, and GSL Healthcare is now a wholly-owned subsidiary of the Company. In September of 2022, the Company established a subsidiary in Australia to conduct our development activities pertaining to our two key assets and partake in a tax rebate program that reimburses expenses 43.5% for biotechnology and/or pharmaceutical development activities conducted in Australia. The subsidiary has been named Agentix Australia Pty Ltd and is currently operational. Overview As a result of the Share Exchange Agreement, we plan to focus our business efforts on the development and commercialization of novel therapeutics to treat metabolic disease. Our

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View this 10-K filing on SEC EDGAR