Nowtransit Inc. Files Q3 2024 10-Q Report

TL;DR

Nowtransit Inc. filed its 10-Q for Q3 2024. Check financials.

AI Summary

Nowtransit Inc. filed its 10-Q report for the quarterly period ended September 30, 2024. The company, incorporated in Nevada, is in the computer processing and data preparation industry. Its principal executive offices are located at 2722 South West Temple, Salt Lake City, UT 84115.

Why It Matters

This filing provides investors with the latest financial performance and operational details of Nowtransit Inc. for the third quarter of 2024.

Risk Assessment

Risk Level: low — This is a standard quarterly filing with no immediate red flags or significant new information presented in the header.

Key Players & Entities

• Nowtransit Inc. (company) — Registrant
• September 30, 2024 (date) — Quarterly period end date
• 2722 South West Temple, Salt Lake City, UT 84115 (location) — Principal executive offices address
• 7374 (number) — Primary Standard Industrial Classification Number

FAQ

Key Financial Figures

• $0.0001 — (g) of the Act: Common stock, par value $0.0001 Indicate by check mark whether the re

Filing Documents

• nowtransit20240930_10q.htm (10-Q) — 516KB
• ex_735662.htm (EX-31.1) — 10KB
• ex_735663.htm (EX-32.1) — 6KB
• 0001185185-24-001038.txt ( ) — 2392KB
• notr-20240930.xsd (EX-101.SCH) — 19KB
• notr-20240930_cal.xml (EX-101.CAL) — 21KB
• notr-20240930_def.xml (EX-101.DEF) — 91KB
• notr-20240930_lab.xml (EX-101.LAB) — 179KB
• notr-20240930_pre.xml (EX-101.PRE) — 97KB
• nowtransit20240930_10q_htm.xml (XML) — 144KB

Financial Statements

Financial Statements 4 Condensed Consolidated Balance Sheets (unaudited) 5 Condensed Consolidated Statements of Operations (unaudited) 6 Condensed Consolidated Statement of Changes in Stockholders ' Equity (Deficit) (unaudited) 7 Condensed Consolidated Statements of Cash Flows (unaudited) 8 Notes to Financial Consolidated Statements (unaudited) 9 Item 2 . Management ' s Discussion and Analysis of Financial Condition and Results of Operations 14 Item 3 .

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 20 Item 4 .

Controls and Procedures

Controls and Procedures 20 PART II OTHER INFORMATION 21 Item 1 .

Legal Proceedings

Legal Proceedings 21 Item 2 . Unregistered Sales of Equity Securities and Use of Proceeds 21 Item 3 . Defaults Upon Senior Securities 21 Item 4 . Mine Safety Disclosures 21 Item 5 . Other Information 21 Item 6 . Exhibits 22

Signatures

Signatures 23 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements While the information presented in the accompanying financial statements is unaudited, it includes all adjustments which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the periods presented in accordance with the accounting principles generally accepted in the United States of America ("US GAAP"). In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature. Certain information and footnote disclosures normally included in financial statements prepared in accordance with US GAAP have been condensed or omitted. These financial statements should be read in conjunction with the Company's December 31, 2023 audited financial statements and notes thereto. Operating results for the nine months ended September 30, 2024 are not necessarily indicative of the results that can be expected for the year ending December 31, 2024. 4 Table of Contents NOWTRANSIT INC. CONDENSED CONSOLIDATED BALANCE SHEETS September 30, December 31, 2024 2023 (Unaudited) ASSETS Current Assets Cash and cash equivalents $ 333,220 $ 19,238 Accounts receivable, net 31,913 36,448 Inventory 42,225 37,702 Prepaid rent 1,435 - Total current assets 408,793 93,388 Other Assets Intangible assets 7,037 - Total Assets $ 415,830 $ 93,388 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current Liabilities Accounts payable $ 8,447 $ 7,675 Due to related parties 34,600 87,074 Accrued services 2,500 1,450 Deferred revenue - 3,949 Total current liabilities 45,547 100,148 STOCKHOLDERS' EQUITY (DEFICIT) Preferred stock: $0.0001 par value, 5,000,000 shares authorized; 1,000,000 designated Series A Convertible - - Preferred stock: Series A Convertible: $ 0.0001

View Full Filing

View this 10-Q filing on SEC EDGAR