Born, Inc. Files 10-K/A Amendment

TL;DR

Born, Inc. just amended its 2020 10-K. Check for updates.

AI Summary

Born, Inc. filed Amendment No. 2 to its Form 10-K for the fiscal year ended April 30, 2020, on December 19, 2024. The company, formerly known as Quture International, Inc. and Techs Loanstar, Inc., is incorporated in Nevada and headquartered in Daytona Beach, Florida. This amendment likely addresses previously filed information or provides updated disclosures.

Why It Matters

This filing indicates that Born, Inc. is making corrections or providing additional information related to its 2020 annual report, which could be important for investors assessing the company's historical financial status.

Risk Assessment

Risk Level: medium — Filing an amendment to a 10-K, especially for a past fiscal year, can indicate issues with the original filing or ongoing complexities within the company's reporting.

Key Numbers

• 20200430 — Fiscal Year End (The original 10-K filing was for the fiscal year ended on this date.)
• 20241219 — Filing Date (This is the date the amendment (10-K/A2) was filed with the SEC.)

Key Players & Entities

• Born, Inc. (company) — Registrant
• Quture International, Inc. (company) — Former name of registrant
• TECHS LOANSTAR, INC. (company) — Former name of registrant
• 200 MAGNOLIA AVENUE (address) — Business and mailing address
• DAYTONA BEACH, FL (location) — City and State of business address
• 386-944-2660 (phone_number) — Business phone number
• Nevada (location) — State of incorporation
• 20200430 (date) — Fiscal year end date for the original 10-K
• 20241219 (date) — Filing date of the amendment

FAQ

Key Financial Figures

• $1,482,735 — been restated to reflect net income of $1,482,735 compared to $-0- for the prior audit fo
• $1,492,855 — ue to the gain on the extinguishment of $1,492,855 in debt due to the expiration of the st
• $0.001 — 0,000 shares to 2,510,000,000 par value $0.001 shares (the "Amendment") of which (a) 2
• $250 million — with a public equity float of less than $250 million. To the extent that we remain a smaller
• $5.00 — ty securities with a price of less than $5.00 (other than securities listed on certai
• $0.0010 — tock as reported by the OTC Markets was $0.0010 per share. As of July 1, 2020, there w
• $21,000,000 — stock resulted in a non-cash charge of $21,000,000 and was recorded as stock-based compens

Filing Documents

• ea0214106-10ka2_borninc.htm (10-K/A) — 514KB
• ea021410601ex31-1_borninc.htm (EX-31.1) — 18KB
• ea021410601ex31-2_borninc.htm (EX-31.2) — 19KB
• ea021410601ex32-1_borninc.htm (EX-32.1) — 7KB
• 0001213900-24-110489.txt ( ) — 3158KB
• brrn-20200430.xsd (EX-101.SCH) — 21KB
• brrn-20200430_cal.xml (EX-101.CAL) — 31KB
• brrn-20200430_def.xml (EX-101.DEF) — 107KB
• brrn-20200430_lab.xml (EX-101.LAB) — 193KB
• brrn-20200430_pre.xml (EX-101.PRE) — 130KB
• ea0214106-10ka2_borninc_htm.xml (XML) — 499KB

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 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 5 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data. 5 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure. 5 Item 9A.

Controls and Procedures

Controls and Procedures. 6 Item 9B. Other Information. 6 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 6 PART III Item 10. Directors, Executive Officers, and Corporate Governance. 7 Item 11.

Executive Compensation

Executive Compensation. 9 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. 10 Item 13. Certain Relationships and Related Transactions, and Director Independence. 11 Item 14. Principal Accounting Fees and Services. 11 PART IV Item 15. Exhibits, Financial Statement Schedules. 12 Signatures. 13 i Explanatory Note Born Inc. f/k/a Quture International, Inc. is filing this comprehensive annual report on Form 10-K for the fiscal years ending April 30, 2020, and 2019 (the "Comprehensive Annual Report") as part of its effort to become current in its filing obligations under the Securities Act of 1933, as amended (the "Securities Act"). This Comprehensive Annual Report is our first periodic filing with the Securities and Exchange Commission (the "SEC") since the filing of our quarterly report on Form 10-Q for the quarter ended January 31, 2013. Included in this Comprehensive Annual Report are our audited financial statements for the fiscal years ended April 30, 2020, and 2019, which have not been previously filed with the SEC. Cautionary Note Regarding Forward-Looking This Comprehensive Annual Report on Form 10-K contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. 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," "pursue," "expect," "predict," "project," "goals," "strategy," "future," "likely," "forecast," "potential," "continue," negatives thereof or similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding future acquisition or merger targets, business strategies, macro-economic and sector-specific trends, future cash flows, financing plans, plans and objectives of management, and any o

Forward-looking statements are neither

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 future 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. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, inability to successfully conclude acquisitions of target companies or assets which are reasonably capable of generating positive cash flow in the near future, legal and regulatory changes in the jurisdictions in which we operate, volatility or decline in our stock price, potential fluctuation of our quarterly and annual financial and operational results, rapid adverse changes in markets, decline in demand for our goods and services, insufficient revenues to cover our operating costs and such other factors as discussed in the sections "Business" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" within this Comprehensive Annual Report on Form 10-K. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results. All references in this Comprehensive Annual Report on Form 10-K to the "Company," "QUTR," "Quture", "we," "Born", "us" or "our" are to Born Inc. f/k/a Quture International, Inc.

Business

Item 1. Business. Born Inc. f/k/a Quture, Inc. ("Quture International, Inc, "Quture", Born or the "Company"), is a Nevada corporation, was formed in April 2011 to become an emerging healthcare knowledge solution company created to transform health and healthcare by developing the standard in measuring clinical performance and outcomes. The Company developed medical software with tools and analytics intended to reduce costs while improving clinical performance, outcomes, predictive insight, and evidence-based best clinical processes On August 10, 2011, holders of a majority of the Registrant's outstanding Common Stock voted to amend the Registrant's Articles of Incorporation to increase the number of its authorized shares of capital stock from 900,000,000 shares to 2,510,000,000 par value $0.001 shares (the "Amendment") of which (a) 2,500,000,000 shares were designated as Common Stock and (b) 10,000,000 shares were designated as blank check preferred stock. During the period from March 22, 2013 through December 26, 2019, the Company was dormant. On December 27, 2019, Custodian Ventures, LLC, an entity controlled by David Lazar was appointed by the Nevada Court as the custodian of Born Inc. f/k/a Quture. On December 31, 2019, Mr. Lazar became the only Director and Officer of the Company also acting as its President, Treasurer and Secretary. On April 5, 2020, the Company granted Mr. Lazar 10,000,000 preferred shares with super voting rights of 21,000,000,000 common shares The Company's accounting year-end is April 30. Competitive Business Conditions and Strategy; Our Position in the Industry The Company has been a dormant shell company since approximately 2013 and under new management is currently seeking investment opportunities. Patents, Trademarks, Licenses, Agreements or Contracts The Company does not own or license any registered intellectual property. Research and Development The Company engages in no research and development activities. Employ

Risk Factors

Item 1A. Risk Factors As a "smaller reporting company," we are not required to provide the information required by this Item.

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments. None.

Properties

Item 2. Properties. Anchorage's principal business and corporate address is 3445 Lawrence Avenue, Oceanside, NY 11572. The telephone number at our corporate address is +1 (646) 768-8417. Other than this mailing address, Born Inc. f/k/a Quture International, Inc. does not currently maintain any physical or other office facilities, and we do not anticipate the need for maintaining office facilities at any time in the foreseeable future. The Company pays no rent or other fees for the use of the mailing address as this address is used virtually full-time by activities of a shareholder of the Company. We do not currently have any investments or other interests in any real estate, nor do we have investments or an interest in any real estate mortgages or securities of persons engaged in real estate activities.

Legal Proceedings

Item 3. Legal Proceedings. We are not involved in any pending legal proceeding nor are we aware of any pending or threatened litigation against us.

Mine Safety Disclosures

Item 4. Mine Safety Disclosures. Not applicable. 2 PART II

Market for Registrant's

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities. Market Information Our Common Stock is not traded on any exchange but is currently available for trading in the over-the-counter market and is quoted on the OTC Pink Sheets operated by the OTC Markets Group, Inc. under the symbol "QUTR." Trading in stocks quoted on these markets is often thin and is characterized by wide fluctuations in trading prices due to many factors that may have little to do with a company's operations or business prospects. Over the counter securities are not listed or traded on the floor of an organized national or regional stock exchange. Instead, these securities transactions are conducted through a telephone and computer network connecting dealers in stocks. Over the counter issuers are traditionally smaller companies that do not meet the financial and other listing requirements of a regional or national stock exchange. The SEC also has rules that regulate broker/dealer practices in connection with transactions in "penny stocks." Penny stocks generally are equity securities with a price of less than $5.00 (other than securities listed on certain national exchanges, provided that the current price and volume information with respect to transactions in that security is provided by the applicable exchange or system). The penny stock rules require a broker/dealer, before effecting a transaction in a penny stock not otherwise exempt from the rules, to deliver a standardized risk disclosure document prepared by the SEC that provides information about penny stocks and the nature and level of risks in the penny stock market. The broker/dealer also must provide the customer with current bid and offer quotations for the penny stock, the compensation of the broker/dealer and its salesperson in the transaction, and monthly account statements showing the market value of each penny stock held in the customer's account. The bid and

Description of Securities and Certain

Description of Securities and Certain Rights of Holders of Common Stock The Company has authorized 2,500,000,000 shares of Common Stock and 10,000,000 shares of Preferred Stock both with a par value of $0.001. As of April 30, 2020, and April 30, 2019, respectively, there were 2,486,076,963 shares of Common Stock issued and outstanding, and 10,000,000 shares of Preferred Stock issued and outstanding, respectively. The 10,000,000 Preferred Shares which were granted to Mr. Lazar on April 5, 2020 carried super voting rights of 21,000,000,000 common shares. The issuance of the preferred stock resulted in a non-cash charge of $21,000,000 and was recorded as stock-based compensation related party on the Company's Statements of Operations. Holders of our Common Stock: have equal ratable rights to dividends from funds legally available, therefore, when, as and if declared by our Board of Directors, are entitled to share in all of our assets available for distribution to holders of Common Stock upon liquidation, dissolution or winding up of our affairs, and do not have preemptive, subscription, or conversion rights, and there are no redemption or sinking fund provisions or rights. Holders of shares of our Common Stock do not have cumulative voting rights, meaning that the holders of the majority of the outstanding shares, voting for the election of Directors, can elect all of the Directors to be elected, and, in such event, the holders of the remaining shares will not be able to elect any of our Directors. Historically, we have not paid any cash dividends to stockholders. The declaration of any future cash dividend will be at the discretion of our Board of Directors and will depend upon our earnings, if any, our capital requirements and financial position, our general economic conditions, and other pertinent conditions. It is our present intention not to pay any cash dividends in the foreseeable future, but rather to reinvest earnings, if any, in our business ope

[Reserved]

Item 6. [Reserved] As a "smaller reporting company," we are not required to provide the information required by this Item.

Management's Discussion

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations. Overview For an overview of the business of the Company, please refer within this Comprehensive Annual Report on Form 10-K to Part I, Item 1 ("Business"). Going Concern Our financial statements accompanying this Report have been prepared assuming that we will continue as a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. We have a minimal operating history and minimal revenues or earnings from operations. We have no significant assets or financial resources. We will, in all likelihood, sustain operating expenses without corresponding revenues for the immediate future. See "Part II, Item 8, Financial Statements, and Supplementary Data." 4 Plan of Operation We have been dormant since March 2013. As of the date of this Report, we intend to engage in what we believe to be synergistic acquisitions or joint ventures with a company or companies that we believe will enhance our business plan. There are no assurances we will be able to consummate any acquisitions using our securities as consideration, or at all. Numerous things will need to occur to allow us to implement this aspect of our business plan and there are no assurances that any of these developments will occur, or if they do occur, that we will be successful in fully implementing our plan. Limited Operating History; Need for Additional Capital We cannot guarantee we will be successful in our business operations. We have not generated any revenue since inception. Our business is subject to risks inherent in the establishment of a new business enterprise, including limited capital resources and possible cost overruns due to the price and cost increases in supplies and services. If we are unable to meet our needs for cash f

Quantitative and Qualitative

Item 7A. Quantitative and Qualitative Disclosures About Market Risk. As a "smaller reporting company", we are not required to provide the information required by this Item.

Financial Statements and Supplementary

Item 8. Financial Statements and Supplementary Data. The financial statements and Report of Independent Registered Public Accounting Firm are listed in the "Index to the Financial Statements" on page F-1 and included on pages F-2 through F-12, immediately following the signature page of this Comprehensive Annual Report.

Changes in and Disagreements

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure. Appointment of new independent registered public accounting firm On September 1, 2024, the Company approved the engagement of Beckles & Co., Inc. of West Palm Beach, Florida as our new independent registered public accounting firm to audit and review the Company's financial statements. 5

Controls and Procedures

Item 9A. Controls and Procedures. Evaluation of Disclosure Controls and Procedures Under the supervision and with the participation of our senior management, including our Chief Executive Officer and Chief Financial Officer, we conducted an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act, as of the end of the period covered by this Comprehensive Annual Report on Form 10-K (the "Evaluation Date"). Based on this evaluation, our Chief Executive Officer and Chief Financial Officer concluded as of the Evaluation Date that our disclosure controls and procedures were not effective such that the information relating to us required to be disclosed in our Securities and Exchange Commission ("SEC") reports (i) is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms, and (ii) is accumulated and communicated to our management, including our Chief Executive Officer and chief financial officer, as appropriate to allow timely decisions regarding required disclosure. The Company's former management abandoned all operations for several years, and only recently did the Company appoint new management to make filings with the SEC on behalf of the Company. Management's Annual Report on Internal Control Over Financial Reporting Our management is responsible for establishing and maintaining adequate internal control over financial reporting. Our internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with accounting principles generally accepted in the United States. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Therefore, even those systems determined to be effective can prov

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