Balance Labs, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Balance Labs, Inc. has filed its 2023 10-K report, detailing financial data and corporate events.</b>

AI Summary

Balance Labs, Inc. (BLNC) filed a Annual Report (10-K) with the SEC on April 15, 2024. Balance Labs, Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The company is incorporated in Delaware and operates within the Management Consulting Services industry (SIC 8742). Key dates mentioned include the IPO on November 18, 2020, and acquisitions such as EZ Fill Holdings Inc. on December 2, 2020. The filing references various financial instruments including common stock, additional paid-in capital, retained earnings, warrants, and convertible notes payable. Fair value measurements for recurring items are detailed for both December 31, 2023, and December 31, 2022, categorized by input levels (Level 1, Level 2, Level 3).

Why It Matters

For investors and stakeholders tracking Balance Labs, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Balance Labs' financial health and operational status for the fiscal year 2023, crucial for investors and stakeholders to assess performance and future outlook. The detailed financial data, including equity, debt instruments, and fair value measurements, allows for a thorough analysis of the company's financial position and risk exposure.

Risk Assessment

Risk Level: medium — Balance Labs, Inc. shows moderate risk based on this filing. The filing is a standard 10-K, which typically contains a broad range of information, but lacks specific financial performance metrics like revenue or net income in the provided snippet, making a precise risk assessment difficult without further detail.

Analyst Insight

Review the full 10-K filing to extract specific financial performance data, including revenue, net income, and operational growth, to make informed investment decisions.

Key Numbers

• 2023-12-31 — Fiscal Year End (The end date of the reporting period for the 10-K.)
• 2024-04-15 — Filing Date (The date the 10-K was filed with the SEC.)
• 2020-11-18 — IPO Date (Date of the Initial Public Offering.)
• 2020-12-02 — Acquisition Date (Date related to EZ Fill Holdings Inc. acquisition.)

Key Players & Entities

• Balance Labs, Inc. (company) — Filer name and subject of the 10-K filing.
• DE (state) — State of incorporation for Balance Labs, Inc.
• 8742 (industry_code) — Standard Industrial Classification code for Management Consulting Services.
• Miami (location) — City for the business address of Balance Labs, Inc.
• Miami Beach (location) — City for the mailing address of Balance Labs, Inc.
• EZ Fill Holdings Inc. (company) — Acquired entity mentioned in relation to December 2, 2020.
• Pharmacy No. 27 Ltd. (company) — Entity mentioned in relation to January 29, 2021, and December 31, 2023.
• iGrow Systems Inc. (company) — Entity mentioned in relation to December 31, 2023.

FAQ

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-04-15: Filing Date — The date the 10-K was officially submitted to the SEC.
• 2020-11-18: IPO Date — Significant corporate event marking the company's public debut.
• 2020-12-02: Acquisition of EZ Fill Holdings Inc. — Indicates a key strategic move for the company.

Key Financial Figures

• $0.0001 — t outstanding is 21,674,000 , par value $0.0001 per share. TABLE OF CONTENTS Page
• $50,000 — ng fees and other costs will be between $50,000 and $75,000 per year. SIGNIFICANT ADV
• $75,000 — other costs will be between $50,000 and $75,000 per year. SIGNIFICANT ADVERSE IMPACT

Filing Documents

• form10-k.htm (10-K) — 789KB
• ex31-1.htm (EX-31.1) — 20KB
• ex31-2.htm (EX-31.2) — 19KB
• ex32-1.htm (EX-32.1) — 9KB
• ex32-2.htm (EX-32.2) — 9KB
• ex97-1.htm (EX-97.1) — 34KB
• 0001493152-24-014644.txt (&nbsp;) — 3892KB
• blnc-20231231.xsd (EX-101.SCH) — 26KB
• blnc-20231231_cal.xml (EX-101.CAL) — 41KB
• blnc-20231231_def.xml (EX-101.DEF) — 149KB
• blnc-20231231_lab.xml (EX-101.LAB) — 239KB
• blnc-20231231_pre.xml (EX-101.PRE) — 205KB
• form10-k_htm.xml (XML) — 420KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 6 Item 1B. Unresolved Staff Comments 11 Item 1C. Cybersecurity 11 Item 2.

Properties

Properties 11 Item 3.

Legal Proceedings

Legal Proceedings 11 Item 4. Mine Safety Disclosures 11 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 12 Item 6.

Selected Financial Data

Selected Financial Data 12 Item 7.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 12 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 16 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 16 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 17 Item 9A.

Controls and Procedures

Controls and Procedures 17 Item 9B. Other Information 18 Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 18 PART III Item 10. Directors, Executive Officers and Corporate Governance 18 Item 11.

Executive Compensation

Executive Compensation 21 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 22 Item 13. Certain Relationships and Related Transactions, and Director Independence 22 Item 14. Principal Accountant Fees and Services 24 PART IV Item 15. Exhibits, Financial Statement Schedules 25 Item 16. Form 10-K Summary 25

SIGNATURES

SIGNATURES 26 2 CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS This Annual Report on Form 10-K contains "forward-looking statements". Forward-looking statements discuss matters that are not historical facts. Because they discuss future events or conditions, forward-looking statements may include words such as "anticipate," "believe," "estimate," "intend," "could," "should," "would," "may," "seek," "plan," "might," "will," "expect," "anticipate," "predict," "project," "forecast," "potential," "continue" negatives thereof or similar expressions. Forward-looking statements speak only as of the date they are made, are based on various underlying assumptions and current expectations about the future and are not guarantees. Such statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, level of activity, performance or achievement to be materially different from the results of operations or plans expressed or implied by such forward looking statements. We cannot predict all of the risks and uncertainties. Accordingly, such information should not be regarded as representations that the results or conditions described in such statements or that our objectives and plans will be achieved and we do not assume any responsibility for the accuracy or completeness of any of these forward-looking statements. These forward-looking statements are found at various places throughout this Annual Report on Form 10-K and include information concerning possible or assumed future results of our operations, including of management; any other statements regarding future acquisitions, future cash needs, future operations, business plans and future financial results, and any other statements that are not historical facts. These forward-looking statements represent our intentions, plans, expec

Business

Business model development, including marketing research, naming and branding

Business

Business plan writing Financial modeling Website & mobile app development Employee and board member recruitment Patent/trademark filing assistance Professional introductions Product or service development Product production Develop marketing material Product or service placement Celebrity endorsements Introductions to professional services such as legal & accounting In the future we plan to offer executive office sharing and additional ancillary services Target Market The target market will consist of startup and developmental stage businesses located in the United States and abroad. We cater our services to startups and developmental stage companies that do not have the resources to execute or implement their business plan or ideas with the personnel in-house. Our client companies can derive value from our support and expertise with dealing with the typical growing pains and common mistakes experienced by startups. Marketing and Sales We are starting to become more active in the market by developing relationships initially with startups and development stage companies. In addition to the personal relationships of the principals, we plan to use our website www.balancelabs.co to promote our services and provide a contact function that allows potential clients to reach us for additional information. The references to our website in this Annual Report on Form 10-K are inactive textual references only. The information on our website is not incorporated by reference into this Annual Report on Form 10-K. We may also utilize social media such as Facebook, Twitter and an online blog to increase our presence online and communicate the value we can add. We do not have any specific marketing channels in place at this point to market our services to potential customers. In the next year end we plan to market our services through word of mouth or personal referrals. We also plan to advertise in startup and development stage specific journals and

View Full Filing

View this 10-K filing on SEC EDGAR