Born, Inc. Files 2021 Annual Report
Ticker: BRRN · Form: 10-K · Filed: Dec 30, 2024 · CIK: 1397795
Sentiment: neutral
Topics: 10-K, annual-report, company-information
TL;DR
Born, Inc. (FORMERLY QUTURE INTERNATIONAL, INC.) filed its 2021 10-K. HQ in Daytona Beach, FL.
AI Summary
Born, Inc. filed its annual report (10-K) for the fiscal year ended December 31, 2021. The company, formerly known as QUTURE INTERNATIONAL, INC. and TECHS LOANSTAR, INC., is incorporated in Nevada and operates in management services. Its principal executive offices are located at 200 Magnolia Avenue, Daytona Beach, FL.
Why It Matters
This filing provides a comprehensive overview of Born, Inc.'s financial performance and business operations for the 2021 fiscal year, which is crucial for investors to assess the company's health and future prospects.
Risk Assessment
Risk Level: low — This is a standard annual report filing and does not contain immediate, high-impact news.
Key Numbers
- 2021 — Fiscal Year End (The report covers the financial performance up to December 31, 2021.)
- 333-143630 — Commission File Number (Identifies the specific filing with the SEC.)
Key Players & Entities
- Born, Inc. (company) — Registrant
- QUTURE INTERNATIONAL, INC. (company) — Former name
- TECHS LOANSTAR, INC. (company) — Former name
- December 31, 2021 (date) — Fiscal year end
- 200 Magnolia Avenue, Daytona Beach, FL (location) — Business address
- Nevada (location) — State of incorporation
FAQ
What is the primary business of Born, Inc.?
Born, Inc. operates in the Services-Management Services sector, SIC code 8741.
When was Born, Inc. formerly known as QUTURE INTERNATIONAL, INC.?
The company changed its name from QUTURE INTERNATIONAL, INC. on March 6, 2013.
Where is Born, Inc. headquartered?
Born, Inc.'s business and mail address is 200 Magnolia Avenue, Daytona Beach, FL 32214.
In which state is Born, Inc. incorporated?
Born, Inc. is incorporated in Nevada.
What is the filing date of this 10-K report?
This 10-K report was filed as of December 30, 2024, for the fiscal year ended December 31, 2021.
Filing Stats: 4,575 words · 18 min read · ~15 pages · Grade level 12.8 · Accepted 2024-12-30 08:00:15
Key Financial Figures
- $0.001 — of each class) Common Stock, par value $0.001 per share Indicate by check mark if t
Filing Documents
- ea0225667-10k_borninc.htm (10-K) — 348KB
- ea022566701ex31_borninc.htm (EX-31) — 8KB
- ea022566701ex32_borninc.htm (EX-32) — 4KB
- 0001213900-24-113255.txt ( ) — 1795KB
- brrn-20211231.xsd (EX-101.SCH) — 15KB
- brrn-20211231_cal.xml (EX-101.CAL) — 13KB
- brrn-20211231_def.xml (EX-101.DEF) — 75KB
- brrn-20211231_lab.xml (EX-101.LAB) — 164KB
- brrn-20211231_pre.xml (EX-101.PRE) — 95KB
- ea0225667-10k_borninc_htm.xml (XML) — 90KB
Business
Business 1 Item 1A.
Risk Factors
Risk Factors 2 Item 1B. Unresolved Staff Comments 2 Item 2
Properties
Properties 2 Item 3.
Legal Proceedings
Legal Proceedings 2 Item 4. Mine Safety Disclosures 2 PART II Item 5. Market for the Registrant's Common Equity and Related Stockholder Matters and Issuer Purchases of Equity Securities 3 Item 6. Reserved 3 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 3 Item 7A.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 6 Item 8.
Financial Statements and Supplementary Data
Financial Statements and Supplementary Data 7 Item 9. Changes in and Disagreements on Accounting and Financial Disclosure 8 Item 9A.
Controls and Procedures
Controls and Procedures 8 Item 9B. Other Information 9 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 9 PART III Item 10. Directors, Executive Officers, and Corporate Governance 10 Item 11.
Executive Compensation
Executive Compensation 12 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 13 Item 13. Certain Relationships and Related Transactions, and Director Independence 14 Item 14. Principal Accounting Fees and Services 14 PART IV Item 15. Exhibits, Financial Statement Schedules 15
FORWARD-LOOKING STATEMENTS
FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking regarding Born, Inc. contained in this Report that are not historical in nature, particularly those that utilize terminology such as "may," "will," "should," "likely," "expects," "anticipates," "estimates," "believes" or "plans," or comparable terminology, are forward-looking statements based on current expectations and assumptions, and entail various risks and uncertainties that could cause actual results to differ materially from those expressed in such forward-looking statements. All forward-looking statements speak only as of the date of this Report. Except to the extent required by law, we undertake no obligation to update any forward-looking statements or other information contained herein. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, intentions, and expectations reflected in or suggested by the forward-looking statements in this Report are reasonable, we cannot assure you that these plans, intentions, or expectations will be achieved. ii PART I
BUSINESS
ITEM 1. BUSINESS Overview Corporate History Born, Inc. f/k/a "Quture International, Inc. ("Born", "we", "us", 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 International. 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. Each preferred share is convertible into 250 shares of common stock. On September 10, 2020, the Company filed a Certificate of Designation with the State of Nevada changing the conversion and voting rights of the Company's Series A preferred stock, $.001 par value per share to 250 for each one (1) share of Series A preferred stock. On September 23, 2020, as a result of a private transaction, 10,000,000 shares of Series A Convertible Preferred Stock,
RISK FACTORS
ITEM 1A. RISK FACTORS We are a smaller reporting company and not required to include this disclosure in this Report.
UNRESOLVED STAFF COMMENTS
ITEM 1B. UNRESOLVED STAFF COMMENTS None.
PROPERTIES
ITEM 2. PROPERTIES Not applicable.
LEGAL PROCEEDINGS
ITEM 3. LEGAL PROCEEDINGS There are no pending legal proceedings to which we are a party or in which any director, officer or affiliate of ours, any owner of record or beneficially of more than 5% of any class of our voting securities, or security holder is a party adverse to us or has a material interest adverse to us.
MINE SAFETY DISCLOSURES
ITEM 4. MINE SAFETY DISCLOSURES Not applicable. 2 PART II
MARKET FOR REGISTRANT'S COMMON
ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES Market Information Our common stock is not quoted on any exchange Holders As of July 22, 2024 we had 100 holders of record of our common stock. Dividend Policy We have not paid any dividends since our incorporation and do not anticipate the payment of dividends in the foreseeable future. At present, our policy is to retain earnings, if any, to develop and market our products. The payment of dividends in the future will depend upon, among other factors, our earnings, capital requirements, and operating financial conditions.
[Reserved]
ITEM 6. [Reserved] Not applicable.
MANAGEMENT'S DISCUSSION AND ANALYSIS
ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following discussion and analysis should be read in conjunction with our financial statements and related notes thereto.
Forward Looking Statements
Forward Looking Statements The following information specifies certain forward-looking are not based on historical fact. Forward-looking statements may be identified by the use of forward-looking terminology, such as may, shall, could, expect, estimate, anticipate, predict, probable, possible, should, continue, or similar terms, variations of those terms or the negative of those terms. The forward-looking statements specified in the following information statement have been compiled by our management on the basis of assumptions made by management and considered by management to be reasonable. Our future operating results, however, are impossible to predict and no representation, guaranty, or warranty is to be inferred from those forward-looking statements. 3 The assumptions used for purposes of the forward-looking in economic, legislative, industry, and other circumstances. As a result, the identification and interpretation of data and other information and their use in developing and selecting assumptions from and among reasonable alternatives require the exercise of judgment. To the extent that the assumed events do not occur, the outcome may vary substantially from anticipated or projected results, and, accordingly, no opinion is expressed on the achievability of those forward-looking statements. We cannot guarantee that any of the assumptions relating to the forward-looking statements specified in the following information are accurate, and we assume no obligation to update any such forward-looking statements. Such forward-looking statements include statements regarding our anticipated financial and operating results, our liquidity, goals, and plans. All forward-looking statements in t
QUANTITATIVE
ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK Not applicable. 6
FINANCIAL STATEMENTS AND SUPPLEMENTARY
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA Reference is made to the Financial Statements, the notes thereto, and the Report of Independent Public Accountants thereon commencing on page F-1 of this Report, which Financial Statements, notes and report are incorporated herein by reference. Index to Financial Statements Report of Independent Registered Public Accounting Firm - PCAOB ID 7116 F-1 Balance Sheets as of December 31, 2021and December 31, 2020 F-2 F-3 F-4 F-5
Notes to Financial Statements
Notes to Financial Statements F-6 7 Report of Independent Registered Public Accounting Firm To the shareholders and the board of directors of Born, Inc f/k/a Quture International, Inc. Opinion on the Financial Statements We have audited the accompanying balance sheets of Born, Inc. as of December 31, 2021 and 2020, the related statements of operations, stockholders' (deficit), and cash flows for the years then ended, and the related notes (collectively referred to as the "