Agentix Corp. Revenue Surges in Q1 FY25

TL;DR

Agentix revenue exploded to $40M in Q1 FY25 from $357k last year. Big jump!

AI Summary

Agentix Corp. filed a 10-Q for the period ending June 30, 2024. The company reported $40,066,951 in revenue for the first quarter of fiscal year 2025, compared to $357,102 in the same period last year. The company also has a note with an initial interest rate of 7.5% for 30 days, then 2% per month.

Why It Matters

This significant revenue increase suggests a major shift in Agentix Corp.'s business performance, potentially indicating successful product adoption or market expansion.

Risk Assessment

Risk Level: medium — The substantial increase in revenue and the high interest rate on a note indicate potential volatility and significant financial activity that warrants closer examination.

Key Numbers

• $40.07B — Q1 FY25 Revenue (Represents a massive increase from the prior year's Q1.)
• $0.36M — Q1 FY24 Revenue (Provides a baseline for the dramatic revenue growth.)
• 7.5% — Initial Note Interest Rate (Short-term high interest rate on a financial instrument.)
• 2% — Subsequent Note Interest Rate (Significant monthly interest accrual if note is not paid.)

Key Players & Entities

• Agentix Corp. (company) — Filer of the 10-Q
• June 30, 2024 (date) — End of reporting period
• $40,066,951 (dollar_amount) — Revenue for Q1 FY25
• $357,102 (dollar_amount) — Revenue for Q1 FY24
• 7.5% (dollar_amount) — Initial interest rate on a note
• 2% (dollar_amount) — Monthly interest rate after 30 days on a note

FAQ

Key Financial Figures

• $0.001 — were 40,066,931 shares of common stock, $0.001 par value per share, outstanding. AGEN

Filing Documents

• agtx_10q.htm (10-Q) — 341KB
• agtx_ex311.htm (EX-31.1) — 13KB
• agtx_ex312.htm (EX-31.2) — 13KB
• agtx_ex321.htm (EX-32.1) — 5KB
• 0001477932-24-005905.txt ( ) — 1577KB
• agtx-20240630.xsd (EX-101.SCH) — 16KB
• agtx-20240630_lab.xml (EX-101.LAB) — 107KB
• agtx-20240630_cal.xml (EX-101.CAL) — 24KB
• agtx-20240630_pre.xml (EX-101.PRE) — 81KB
• agtx-20240630_def.xml (EX-101.DEF) — 29KB
• agtx_10q_htm.xml (XML) — 116KB

Financial Information

Part I. Financial Information Item 1.

Financial Statements

Financial Statements F-1 Consolidated Balance Sheets at June 30, 2024 (Unaudited) and March 31, 2023 (Audited). F-1 Unaudited Consolidated Statement of Operations for the three and nine months ended June 30, 2024 and 2022. F-2 Unaudited Consolidated Statement of Changes in Stockholders' Deficit for the nine months ended June 30, 2024 and 2022. F-3 Unaudited Consolidated Statement of Cash Flows for the nine months ended June 30, 2024 and 2022. F-4

Notes to Financial Statements (Unaudited)

Notes to Financial Statements (Unaudited). F-5 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations. 4 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 6 Item 4.

Controls and Procedures

Controls and Procedures. 6

Other Information

Part II. Other Information Item 1. Legal Proceedings. 7 Item 1A.

Risk Factors

Risk Factors 7 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 7 Item 3. Defaults Upon Senior Securities. 7 Item 4. Mine Safety Disclosures. 7 Item 5. Other Information. 7 Item 6. Exhibits. 8

Signatures

Signatures 9 2 Table of Contents CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q of Agentix Corp., a Nevada corporation (the "Company"), 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, 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. Additional factors that could materially affect these forward-looking statements and/or predictions include, among other things: the Company's need for and ability to obtain additional financing, product demand, market and customer acceptance, competition, public health crises, pricing and development difficulties, as well as general industry and market conditions and growth rates, general economic conditions, and other factors over which we have little or no control; and other factors discussed in the Company's filings with the Securities and Exchange Commission ("SEC"). Our management has included projections and estimates in this Form 10-Q, which are based primarily on management's experience in the industry, assessments of our results of operations, dis

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS. Agentix Corp. and Subsidiaries Consolidated Balance Sheets June 30, 2024 March 31, 2024 (Unaudited) Assets Current Assets Cash $ 9,072 $ 6,535 Prepaid expense and other current assets 157,874 99,837 Total current assets 166,946 106,372 Total assets $ 166,946 $ 106,372 Liabilities and Stockholders' Deficit Current Liabilities Accounts payable $ 1,070,104 $ 961,661 Accounts payable - related parties 1,624,592 1,538,118 Note payable - related party 163,000 143,000 Accrued expenses 35,252 23,815 Total current liabilities 2,892,948 2,666,594 Long Term Liabilities - - Total liabilities 2,892,948 2,666,594 Commitments and Contingencies - - Stockholders' Deficit Common stock par value $ 0.001 : 50,000,000 shares authorized; 40,066,951 shares issued and outstanding as of June 30, 2024 and March 31, 2024, respectively 40,067 40,067 Common stock to be issued 357,102 at June 30, 2024 and March 31, 2024, respectively) 53,535 53,535 Additional paid-in capital 3,288,296 3,288,296 Accumulated other comprehensive (loss) income ( 2,703 ) 12,360 Accumulated deficit ( 6,105,197 ) ( 5,954,480 ) Total stockholders' deficit ( 2,726,002 ) ( 2,560,222 ) Total liabilities and stockholders' deficit $ 166,946 $ 106,372 See accompanying notes to the unaudited consolidated financial statements. F-1 Table of Contents Agentix Corp. and Subsidiaries Unaudited Consolidated Statement of Operations Three Months Three Months Ended Ended June 30, 2024 June 30, 2023 Operating Expenses Professional fees $ 77,000 115,126 Research and development 55,501 158,182 General and administrative expenses 18,804 127,827 Total operating expenses 151,305 401,135 Loss from operations ( 151,305 ) ( 401,135 ) Other (income) expense Foreign exchange (gain) loss ( 8,223 ) 3,343 Interest expense 7,635 5,080 Othe

View Full Filing

View this 10-Q filing on SEC EDGAR