Ankam, Inc. Files Q3 2024 10-Q

TL;DR

Ankam Inc. 10-Q filed for Q3 2024. Check financials.

AI Summary

Ankam, Inc. filed its 10-Q for the period ending August 31, 2024. The filing covers the third quarter of their fiscal year, which ends on November 30. The company is incorporated in Nevada and operates in computer programming services.

Why It Matters

This filing provides investors with an update on Ankam, Inc.'s financial performance and position as of the end of the third quarter of their fiscal year.

Risk Assessment

Risk Level: low — This filing is a standard quarterly report and does not contain immediate red flags or significant new risks.

Key Players & Entities

• Ankam, Inc. (company) — Filer
• 0001781629 (company) — Central Index Key
• 7371 (company) — Standard Industrial Classification
• NV (company) — State of Incorporation
• 1130 (company) — Fiscal Year End
• 20240831 (date) — Report Period End Date
• 20241015 (date) — Filing Date

FAQ

Key Financial Figures

• $0.60 — onversion price at a per-share value of $0.60. On July 29, 2024, Ankam, Inc. and Mak
• $138,040 — he repayment of the outstanding debt of $138,040. And the Company approved the issuance
• $51,052 — ght of use asset and lease liability of $51,052. During the nine months ended August 3
• $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
• $26,645 — p. The estimated cost of the project is $26,645, of which $ 26,645 has been completed a

Filing Documents

• ankam_i10q-083124.htm (10-Q) — 415KB
• ankam_ex3100.htm (EX-31.1) — 13KB
• ankam_ex3200.htm (EX-32.1) — 4KB
• 0001683168-24-007147.txt ( ) — 2421KB
• ankm-20240831.xsd (EX-101.SCH) — 21KB
• ankm-20240831_cal.xml (EX-101.CAL) — 33KB
• ankm-20240831_def.xml (EX-101.DEF) — 47KB
• ankm-20240831_lab.xml (EX-101.LAB) — 199KB
• ankm-20240831_pre.xml (EX-101.PRE) — 157KB
• ankam_i10q-083124_htm.xml (XML) — 235KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Consolidated Balance Sheets as of August 31, 2024 (Unaudited) and November 30, 2023 4 Consolidated Statements of Operations for the three and nine months ended August 31, 2024 and 2023 (Unaudited) 5 Consolidated Statements of Stockholders' Deficit for the nine months ended August 31, 2024 and 2023 (Unaudited) 6 Consolidated Statements of Cash Flows for the nine months ended August 31, 2024 and 2023 (Unaudited) 7 Notes to the Consolidated Financial Statements (Unaudited) 8 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 15 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 19 Item 4.

Controls and Procedures

Controls and Procedures 19 PART II OTHER INFORMATION: 20 Item 1.

Legal Proceedings

Legal Proceedings 20 Item 1A.

Risk Factors

Risk Factors 20 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 20 Item 3. Defaults Upon Senior Securities 20 Item 4. Mine Safety Disclosures 20 Item 5. Other Information 20 Item 6. Exhibits 20

- 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. 3 ANKAM, INC. CONSOLIDATED BALANCE SHEETS August 31, 2024 November 30, 2023 ASSETS CURRENT ASSETS: Cash $ 19,185 $ 286 Accounts receivable – 21,390 Prepaid expenses 30,000 15,847 Right-of-use asset, net 10,559 48,643 Total current assets 59,744 86,166 Capitalized software costs, net 117,695 22,157 TOTAL ASSETS $ 177,439 $ 108,323 LIABILITIES AND STOCKHOLDERS' DEFICIT CURRENT LIABILITIES: Accounts payable and accrued expenses $ 2,000 $ 84,000 Deferred revenue 20,000 12,700 Related party loan 449,338 292,026 Lease liability – 44,900 Total current liabilities 471,338 433,626 Total liabilities 471,338 433,626 Commitments and contingencies (Note 8) – – STOCKHOLDERS' DEFICIT: Common stock: $ 0.001 par value, 75,000,000 shares authorized, 4,558,063 shares issued and outstanding 4,558 4,328 Additional paid in capital 169,072 31,262 Accumulated deficit ( 467,529 ) ( 360,893 ) Total stockholders' deficit ( 293,899 ) ( 325,303 ) TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 177,439 $ 108,323 The accompanying notes are

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View this 10-Q filing on SEC EDGAR