Ankam, Inc. Files Quarterly Report for Period Ended February 29, 2024

TL;DR

<b>Ankam, Inc. has submitted its Q1 2024 10-Q filing, confirming compliance with reporting requirements.</b>

AI Summary

Ankam, Inc. (ANKM) filed a Quarterly Report (10-Q) with the SEC on April 15, 2024. Ankam, Inc. filed its quarterly report on Form 10-Q for the period ended February 29, 2024. The company is incorporated in Nevada and its fiscal year ends on November 30. The filing covers the first quarter of fiscal year 2024. Ankam, Inc. has filed all required reports for the preceding 12 months. The principal executive office is located at 5348 Vegas Drive, Las Vegas, Nevada.

Why It Matters

For investors and stakeholders tracking Ankam, Inc., this filing contains several important signals. This filing provides an update on Ankam, Inc.'s financial performance and operational status for the first quarter of fiscal year 2024. Investors and stakeholders can review the report to assess the company's financial health and strategic direction.

Risk Assessment

Risk Level: low — Ankam, Inc. shows low risk based on this filing. The filing is a standard quarterly report and does not contain immediate indicators of significant financial distress or major operational changes, suggesting a low level of immediate risk based solely on this document.

Analyst Insight

Monitor future filings for detailed financial performance and any strategic updates from Ankam, Inc.

Key Numbers

• 2024-02-29 — Quarterly Period End Date (Form 10-Q)
• 2024-04-15 — Filing Date (Form 10-Q)
• 1130 — Fiscal Year End (Company Data)
• 7371 — SIC Code (Services-Computer Programming Services)

Key Players & Entities

• Ankam, Inc. (company) — Registrant
• February 29, 2024 (date) — Quarterly period ended
• Nevada (location) — State of Incorporation
• November 30 (date) — Fiscal Year End
• Bakur Kalichava (person) — Contact Person
• 5348 Vegas Drive (address) — Principal Executive Office
• Las Vegas (location) — City of Principal Executive Office
• 89108 (postal_code) — Zip Code of Principal Executive Office

FAQ

Industry Context

Ankam, Inc. operates within the Services-Computer Programming Services industry (SIC code 7371).

Regulatory Implications

The company is subject to the reporting requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management discussion.
2. Track Ankam, Inc.'s performance against industry benchmarks.
3. Monitor for any subsequent filings or press releases that may provide further insights.

Key Dates

• 2024-02-29: Quarterly period end — End of the reporting period for the 10-Q filing.
• 2024-04-15: Filing date — Date Ankam, Inc. submitted its 10-Q filing.

Year-Over-Year Comparison

This is the quarterly report for the period ended February 29, 2024. Specific comparative figures from the previous quarter or year are not detailed in this header section.

Key Financial Figures

• $158,040 — of the Apex, for total consideration of $158,040. The initial payment of $20,000 was pro
• $20,000 — ion of $158,040. The initial payment of $20,000 was processed to Mr. Hordieiev on Janua
• $138,040 — 3, 2024. For the outstanding balance of $138,040 the Company issued a Promissory Note on
• $0.60 — onversion price at a per-share value of $0.60. NOTE 2 – SUMMARY OF SIGNIFICANT ACCOU
• $14,966 — developed. The monthly rental amount is $14,966. The Company entered into a new lease i
• $4,473 — one year. The monthly rental amount is $4,473. On November 11, 2023, the Company reco
• $51,052 — ght of use asset and lease liability of $51,052. During the three months ended Februar
• $255,800 — itial estimated cost of the project was $255,800, of which $77,000 had been completed an
• $77,000 — t of the project was $255,800, of which $77,000 had been completed and capitalized as o
• $241,390 — The cryptocurrency wallet was sold for $241,390 in October 2023. The gain on the sale o
• $18,890 — The gain on the sale of the wallet was $18,890. T herefore, the ompany decided to focu
• $26,645 — p. The estimated cost of the project is $26,645, of which $26,645 has been completed an
• $479,606 — ng loss carry forwards of approximately $479,606 as of February 29, 2024, for federal in

Filing Documents

• ankm10q_29feb2024.htm (10-Q) — 295KB
• exh31.htm (EX-31.1) — 19KB
• exh32.htm (EX-32.1) — 8KB
• 0001781629-24-000011.txt (&nbsp;) — 1632KB
• ankm-20240229.xsd (EX-101.SCH) — 13KB
• ankm-20240229_cal.xml (EX-101.CAL) — 24KB
• ankm-20240229_def.xml (EX-101.DEF) — 13KB
• ankm-20240229_lab.xml (EX-101.LAB) — 112KB
• ankm-20240229_pre.xml (EX-101.PRE) — 82KB
• ankm10q_29feb2024_htm.xml (XML) — 151KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 5 Consolidated Balance Sheets as of February 29, 2024 (Unaudited) and November 30, 2023 6 Consolidated Statements of Operations for the three months ended February 29, 2024 and February 28, 2023(Unaudited) 7 Consolidated Statements of Stockholders' Deficit for the three months ended February 29, 2024 and February 28, 2023(Unaudited) 8 Consolidated Statements of Cash Flows for the three months ended February 29, 2024 and February 28, 2023(Unaudited) 9 Notes to the Consolidated Financial Statements (Unaudited) 10 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 18 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 21 Item 4.

Controls and Procedures

Controls and Procedures 21 PART II OTHER INFORMATION: Item 1.

Legal Proceedings

Legal Proceedings 22 Item 1A.

Risk Factors

Risk Factors 22 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 22 Item 3. Defaults Upon Senior Securities 22 Item 4. Mine Safety Disclosures 22 Item 5. Other Information 22 Item 6. Exhibits 22

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) The accompanying interim financial statements of Ankam, Inc. ("the Company", "we", "us" or "our"), have been prepared without audit pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with United States generally accepted accounting principles have been omitted pursuant to such rules and regulations. The interim financial statements should be read in conjunction with the Company's latest annual financial statements. In the opinion of management, the financial statements contain all material adjustments, consisting only of normal adjustments considered necessary to present fairly the financial condition, results of operations, and cash flows of the Company for the interim periods presented. 5 ANKAM, INC. CONSOLIDATED BALANCE SHEETS February 29, 2024 November 30, 2023 ASSETS CURRENT ASSETS: Cash $ 707 $ 286 Accounts receivable - 21,390 Prepaid expenses 36,007 15,847 Right-of-use asset, net 36,271 48,643 Total current assets 72,985 86,166 Capitalized software costs, net 144,037 22,157 TOTAL ASSETS $ 217,022 $ 108,323 LIABILITIES AND STOCKHOLDERS' DEFICIT CURRENT LIABILITIES: Accounts payable and accrued expenses $ 244,040 $ 84,000 Deferred revenue 27,830 12,700 Related party loan 365,636 292,026 Lease liability 23,532 44,900 Total current liabilities 661,038 433,626 Total liabilities 661,038 433,626 Commitments and contingencies (Note 8) STOCKHOLDERS' DEFICIT: Common stock: $ 0.001 par value, 75,000,000 shares authorized, 4,327,996 shares issued and outstanding 4,328 4,328 Additional paid in capital 31,262 31,262 Accumulated deficit ( 479,606 ) ( 360,893 ) Total stockholders' deficit ( 444,016 ) ( 325,303 ) TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 217,022 $ 108

View Full Filing

View this 10-Q filing on SEC EDGAR