Atlantica Inc. Files Q2 2024 10-Q Report

TL;DR

ATLANTICA INC Q2 10-Q FILED - FINANCIALS DETAILED FOR H1 2024

AI Summary

Atlantica Inc. filed its 10-Q for the quarter ended June 30, 2024, reporting on its financial performance. The filing covers the period from January 1, 2024, to June 30, 2024, and includes comparative data for previous periods. Key financial statement items such as common stock, additional paid-in capital, and retained earnings are detailed as of various dates, including December 31, 2022, March 31, 2023, December 31, 2023, and March 31, 2024.

Why It Matters

This filing provides investors with a detailed look at Atlantica Inc.'s financial health and operational results for the second quarter of 2024, crucial for investment decisions.

Risk Assessment

Risk Level: low — This is a routine financial filing (10-Q) and does not inherently present new risks.

Key Numbers

• 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter covered by the report.)
• 20240802 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• ATLANTICA INC (company) — Filer of the 10-Q report
• 0001548123-24-000094 (other) — Accession number for the filing
• June 30, 2024 (date) — End of the reporting period for the 10-Q
• December 31, 2022 (date) — Comparative financial statement date
• March 31, 2023 (date) — Comparative financial statement date
• December 31, 2023 (date) — Comparative financial statement date
• March 31, 2024 (date) — Comparative financial statement date

FAQ

Key Financial Figures

• $400,000 — nging from a small amount to as much as $400,000 or more. These fees are usually divided

Filing Documents

• alda10q6302024.htm (10-Q) — 223KB
• ex31-1.htm (EX-31) — 8KB
• ex31-2.htm (EX-31) — 8KB
• ex32.htm (EX-32) — 5KB
• 0001548123-24-000094.txt ( ) — 1450KB
• alda-20240630_pre.xml (EX-101.PRE) — 108KB
• alda-20240630.xsd (EX-101.SCH) — 12KB
• alda-20240630_cal.xml (EX-101.CAL) — 18KB
• alda-20240630_def.xml (EX-101.DEF) — 15KB
• alda-20240630_lab.xml (EX-101.LAB) — 142KB
• alda10q6302024_htm.xml (XML) — 88KB

Financial Statements

Item 1. Financial Statements The Financial Statements of the Registrant required to be filed with this 10-Q Quarterly Report were prepared by management and commence below, together with related notes. In the opinion of management, the Financial Statements fairly present the financial condition of the Registrant. ATLANTICA, INC. UNAUDITED FINANCIAL STATEMENTS JUNE 30, 2024 2 ATLANTICA, INC. CONTENTS PAGE Condensed Balance Sheets, June 30, 2024 (Unaudited) and December 31, 2023 4 Condensed Unaudited Statements of Operations, for the three and six months ended June 30, 2024 and 2023 5 Condensed Unaudited Statement of Shareholders' Equity (Deficit) For the three and six months ended June 30, 2024 and 2023 6 Condensed Unaudited Statements of Cash Flows, for the six months ended June 30, 2024 and 2023 7 Notes to Condensed Unaudited

Financial Statements

Financial Statements 8 - 11 3 ATLANTICA, INC. Condensed Balance Sheets June 30, 2024 (Unaudited) December 31, 2023 ASSETS CURRENT ASSETS Cash $ - $ - Total Current Assets - - Total Assets $ - $ - LIABILITIES AND STOCKHOLDERS' DEFICIT CURRENT LIABILITIES Accounts Payable $ 1,710,412 $ 1,654,146 Accounts Payable - Related Parties 1,986,733 1,933,948 Note Payable - Related Parties 745,039 713,653 Interest Payable – Related Parties 1,035,590 951,413 Total Current Liabilities 5,477,774 5,253,160 Total Liabilities 5,477,774 5,253,160 Commitments and Contingencies - - STOCKHOLDERS' DEFICIT Preferred Stock: 10,000,000 shares authorized of $ 0.0001 par value, no shares issued and outstanding - - Common Stock: 50,000,000 shares authorized of $ 0.0001 par value, 2,458,590 shares issued and outstanding, respectively 246 246 Additional Paid-in Capital 125,456 125,456 Accumulated Deficit ( 5,603,476 ) ( 5,378,862 ) Total Stockholders' Deficit ( 5,477,774 ) ( 5,253,160 ) Total Liabilities and Stockholders' Deficit $ - $ - The accompanying notes are an integral part of these condensed unaudited financial statements. 4 ATLANTICA, INC. Condensed Statements of Operations (Unaudited) Three Months Ended June 30, 2024 Three Months Ended June 30, 2023 Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 REVENUES $ - $ - $ - $ - EXPENSES General and administrative 39,646 70,336 140,436 121,934 Total expenses 39,646 70,336 140,436 121,934 OTHER INCOME (EXPENSE) Interest expense ( 42,849 ) ( 37,670 ) ( 84,178 ) ( 73,779 ) Total other income (expense) ( 42,849 ) ( 37,670 ) ( 84,178 ) ( 73,779 ) NET LOSS $ ( 82,495 ) $ ( 108,006 ) $ ( 224,614 ) $ ( 195,713 ) BASIC AND DILUTED LOSS PER SHARE $ ( 0.03 ) $ ( 0.04 ) $ ( 0.09 ) $ ( 0.08 ) WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING –

Management's Discussions and Analysis of

Item 2. Management's Discussions and Analysis of Financial Condition and Results of Operations.

Forward-looking Statements

Forward-looking Statements not purely historical, are forward-looking statements with respect to the goals, plan objectives, intentions, expectations, financial condition, results of operations, future performance and our business, including, without limitation, (i) our ability to raise capital, and (ii) statements preceded by, followed by or that include the words "may," "would," "could," "should," "expects," "projects," "anticipates," "believes," "estimates," "plans," "intends," "targets" or similar expressions.

Forward-looking statements involve inherent risks

Forward-looking statements involve inherent risks and uncertainties, and actual results may differ materially from those set forth in the forward-looking statements, depending upon a number of factors, many of which are beyond our control. These factors include, but are not limited to, the following: general economic or industry conditions; nationally and/or in the communities in which we may conduct business; changes in the interest rate environment; legislation or regulatory requirements; conditions of the securities markets; our ability to raise capital; changes in accounting principles, policies or guidelines; financial or political instability; acts of war or terrorism; and other economic, competitive, governmental, regulatory and technical factors affecting our current or potential business and related matters. Accordingly, results actually achieved may differ materially from expected results in these statements. Forward-looking statements speak only as of the date they are made. We do not undertake, and specifically disclaim, any obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of such statements. Plan of Operation Our plan of operation for the next 12 months is to: (i) consider guidelines of industries in which we may have an interest; (ii) adopt a business plan regarding engaging in the business of any selected industry; and (iii) to commence such operations through funding and/or the acquisition of a going concern engaged in any industry selected. We are not currently engaged in any substantive business activity. In our present form, we may be deemed to be a vehicle to acquire or merge with a business or company. Regardless, the commencement of any business opportunity will be preceded by the consideration and adoption of a business plan by our Board of Directors. We do not intend to restrict our search for business opportunities to any particular business or industry, and the areas in whi

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View this 10-Q filing on SEC EDGAR