brooqLy, Inc. Q2 2024 10-Q: Assets $24.2M, No Revenue

TL;DR

brooqLy's Q2 10-Q shows $24.2M assets, $135k liabilities, but ZERO revenue and a tiny loss. Still burning cash.

AI Summary

brooqLy, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported total assets of $24,234,982 and total liabilities of $134,836. For the six months ended June 30, 2024, the company had no revenue and a net loss of $0.0001. The filing also details changes in equity and mentions warrants.

Why It Matters

This filing provides a snapshot of brooqLy, Inc.'s financial health, highlighting its asset base and lack of revenue for the first half of 2024, which is crucial for investors assessing its operational status.

Risk Assessment

Risk Level: medium — The company has significant assets but no reported revenue, indicating a high-risk profile dependent on future monetization or funding.

Key Numbers

• $24.2B — Total Assets (As of June 30, 2024, indicating the company's resource base.)
• $134.8K — Total Liabilities (As of June 30, 2024, showing the company's debt obligations.)
• $0.0001 — Net Loss (For the six months ended June 30, 2024, reflecting operational performance.)
• $200,000,000 — Authorized Shares (Indicates the potential for future equity dilution.)

Key Players & Entities

• brooqLy, Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• $24,234,982 (dollar_amount) — Total assets as of June 30, 2024
• $134,836 (dollar_amount) — Total liabilities as of June 30, 2024
• 0.0001 (dollar_amount) — Net loss for the six months ended June 30, 2024
• MyTreat, Inc. (company) — Former company name
• Angelos Rezos (person) — Mentioned in relation to equity changes
• Ms Bridusa Dominca Kamara (person) — Mentioned in relation to equity changes

FAQ

Key Financial Figures

• $5,000,000 — nced that it will conduct a raise up to $5,000,000 from Accredited Investors pursuant to a
• $12,500, b — having made a first required payment of $12,500, because we did not make the second paymen
• $12,500 — e we did not make the second payment of $12,500 as a result of the Company's inability
• $50,000 — share. The investment was in excess of $50,000 entitling the investor to receive share
• $0.20 — rrants at a reduced price instead of at $0.20 per share from those investors investin
• $75,000 — han $50,000. The investor failed to pay $75,000 of the aggregate investment and the Com
• $0.10 — tor will not receive the benefit of the $0.10 per share price and its shares shall be
• $25,000 — 125,000 shares for the cash proceeds of $25,000 that the company received from the inve

Filing Documents

• brql_10q.htm (10-Q) — 455KB
• brql_ex311.htm (EX-31.1) — 11KB
• brql_ex312.htm (EX-31.2) — 12KB
• brql_ex321.htm (EX-32.1) — 3KB
• brql_ex322.htm (EX-32.2) — 3KB
• 0001477932-24-005142.txt ( ) — 2355KB
• brql-20240630.xsd (EX-101.SCH) — 33KB
• brql-20240630_lab.xml (EX-101.LAB) — 168KB
• brql-20240630_cal.xml (EX-101.CAL) — 31KB
• brql-20240630_pre.xml (EX-101.PRE) — 134KB
• brql-20240630_def.xml (EX-101.DEF) — 69KB
• brql_10q_htm.xml (XML) — 201KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION 3 ITEM 1. Unaudited Condensed Financial Statements F-1 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 4 ITEM 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 6 ITEM 4.

Controls and Procedures

Controls and Procedures 6

— OTHER INFORMATION

PART II — OTHER INFORMATION ITEM 1.

Legal Proceedings

Legal Proceedings 7 ITEM 1A.

Risk Factors

Risk Factors 7 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 7 ITEM 3. Defaults Upon Senior Securities 7 ITEM 4. Mine Safety Disclosures 7 ITEM 5. Other Information 7 ITEM 6. Exhibits 8

Signatures

Signatures 9 2 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Unaudited Condensed Financial Statements of BROOQLY, INC. For the Six Months Ended June 30, 2024 3 Table of Contents BROOQLY, INC TABLE OF CONTENTS Unaudited Condensed Financial Statements Unaudited Condensed Balance Sheets as of June 30, 2024, and December 31, 2023 (audited) F-2 Unaudited Condensed Statements of Operations for the three and six months ended June 30, 2024, and June 30, 2023 F-3 Unaudited Condensed Statements of Cash Flows for the six months ended June 30, 2024, and June 30, 2023 F-4 Unaudited Condensed Statements of Changes in Stockholders' Deficit as of June 30, 2024 and June 30, 2023 F-5 Notes to the Unaudited Condensed Financial Statements F-6 to F-12 F-1 Table of Contents BrooqLy Inc. Unaudited Condensed Balance Sheets ASSET June 30, 2024 December 31, 2023 Audited Current Assets Cash $ 33 $ 2 Prepaid Expenses 30,204 30,204 Total Current Assets 30,237 30,206 Long-term Assets Intangible Assets, net 235,176 171,076 Total Long-term Assets 235,176 171,076 Total Assets $ 265,413 $ 201,282 LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities Accounts Payable $ 154,847 $ 145,077 Promissory Note 65,000 55,000 Interest Payable 10,707 4,303 Payroll Payable 104,488 50,488 Due to related party 23,892 23,374 Total Current Liabilities 358,934 278,242 Stockholders' Deficit Common stock, par value $ 0.0001 ; 200,000,000 common shares authorized; 25,365,000 and 24,234,982 common shares issued and outstanding at June 30, 2024 and December 31, 2023 respectively 2,537 2,424 Additional paid in capital 1,424,670 749,373 Accumulated deficit ( 1,520,728 ) ( 828,757 ) Total Stockholders' Deficit ( 93,521 ) ( 76,960 ) Total Liabilities and Stockholders' Deficit $ 265,413 $ 201,282 The accompanying notes are an integral part of these unaudited condensed financial statements. F-2 Ta

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