Neuralbase AI Ltd. Files Q3 2024 10-Q

TL;DR

Neuralbase AI Ltd. Q3 10-Q filed. Minimal financials reported. Bogota address.

AI Summary

Neuralbase AI Ltd. filed its 10-Q for the period ending September 30, 2024. The company, formerly known as Viratech Corp., reported minimal financial activity with very low reported revenues and assets. The filing indicates a fiscal year end of December 31st and lists a business address in Bogota, Colombia.

Why It Matters

This filing provides a snapshot of Neuralbase AI Ltd.'s financial health and operational status for the third quarter of 2024, which is crucial for investors and stakeholders to assess the company's performance.

Risk Assessment

Risk Level: high — The company has a history of name changes and appears to have very limited reported financial activity, suggesting significant business and financial risks.

Key Numbers

• 0.0001 — Revenue (Reported revenue for the period appears to be negligible.)
• 10000000 — Assets (Total assets reported.)
• 3500000 — Liabilities (Total liabilities reported.)
• 480000000 — Equity (Total equity reported.)

Key Players & Entities

• NEURALBASE AI LTD. (company) — Filer
• Viratech Corp. (company) — Former company name
• Imperia Entertainment, Inc. (company) — Former company name
• Soleil Film, Inc. (company) — Former company name
• 20240930 (date) — Period of report
• 20241119 (date) — Filing date
• BOGOTA (location) — Business address city

FAQ

Filing Documents

• vira_10q.htm (10-Q) — 474KB
• vira_ex311.htm (EX-31.1) — 10KB
• vira_ex312.htm (EX-31.2) — 10KB
• vira_ex321.htm (EX-32.1) — 2KB
• vira_ex322.htm (EX-32.2) — 2KB
• 0001477932-24-007468.txt ( ) — 2201KB
• vira-20240930.xsd (EX-101.SCH) — 28KB
• vira-20240930_lab.xml (EX-101.LAB) — 143KB
• vira-20240930_cal.xml (EX-101.CAL) — 25KB
• vira-20240930_pre.xml (EX-101.PRE) — 119KB
• vira-20240930_def.xml (EX-101.DEF) — 74KB
• vira_10q_htm.xml (XML) — 225KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1. Condensed Financial Statements. 4 CONDENSED CONSOLIDATED BALANCE SHEETS 4 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) 5 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) 6 CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' DEFICIT (UNAUDITED) 7 NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) 8 Item 2.

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

Management's Discussion and Analysis of Financial Conditions and Results of Operations. 14 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk. 17 Item 4.

Controls and Procedures

Controls and Procedures. 17

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1. Legal Proceedings. 18 Item 1A. Risk Factors. 18 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 18 Item 3. Defaults Upon Senior Securities. 18 Item 4. Mine Safety Disclosures. 18 Item 5. Other Information. 18 Item 6. Exhibits. 19 2 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION This quarterly report on Form 10-Q and other publicly available documents, including the documents incorporated herein by reference, contain, and our officers and representatives may from time to time make, "forward-looking" statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "believe," "expect," "future," "likely," "may," "plan," "seek," "will" and similar references to future periods actions or results. Examples of forward-looking statements include our prospects for one or more future material transactions, potential sources of financing, and expenses for future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Any forward-looking statement made by us in this quarterly report on Form 10-Q is based only on information currently available to us

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements. NEURALBASE AI LTD . AND SUBSIDIARIES CONDENDSED CONSOLIDATED BALANCE SHEETS September 30, 2024 (Unaudited) December 31, 2023 ASSETS Current assets Cash - - Total assets - - LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities Accounts payable and accrued liabilities 183,110 1,650,728 Accounts payable and accrued liabilities - related party - 612,500 Advances 127,650 127,650 Advances - Related party 80,680 80,680 Judgement payable 103,000 103,000 Notes payable - related party 7,000 7,000 Notes payable 137,116 79,771 Total current liabilities 638,556 2,661,329 Notes payable, net of debt discount 46,000 46,000 Total liabilities 684,556 2,707,329 Stockholders' deficit Preferred stock, $ 0.0001 par value, 480,000,000 shares authorized, 0 and 0 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively - - Class A Preferred stock, $ 0.0001 par value, 10,000,000 shares authorized, 9,003,774 and 3,774 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 900 900 Class B Preferred stock, $ 0.0001 par value, 10,000,000 shares authorized, 3,500,000 and 3,500,000 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 350 350 Common stock, $ 0.0001 par value, 2,500,000,000 shares authorized, 1,499,338,547 and 1,499,338,547 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 149,934 149,934 Additional paid in capital 3,105,176 2,385,176 Accumulated deficit ( 3,940,916 ) ( 5,243,689 ) Total stockholders' deficit ( 684,556 ) ( 2,707,329 ) Total liabilities and stockholders' deficit - - See accompanying notes to the condensed consolidated financial statements 4 Table of Contents NEURALBASE AI LTD . AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS

View Full Filing

View this 10-Q filing on SEC EDGAR