Born, Inc. Files 2023 Annual Report

Ticker: BRRN · Form: 10-K · Filed: Jan 6, 2025 · CIK: 1397795

Sentiment: neutral

Topics: 10-K, annual-report, financials

TL;DR

Born, Inc. filed its 2023 10-K. Check financials.

AI Summary

Born, Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The company, formerly known as QUTURE INTERNATIONAL, INC. and TECHS LOANSTAR, INC., is incorporated in Nevada and operates in the management services sector. Its principal business address is in Daytona Beach, Florida.

Why It Matters

This filing provides a comprehensive overview of Born, Inc.'s financial performance and business operations for the past fiscal year, offering insights for investors and stakeholders.

Risk Assessment

Risk Level: low — This is a standard annual financial filing with no immediate red flags or unusual disclosures.

Key Numbers

Key Players & Entities

FAQ

What is Born, Inc.'s primary business activity?

Born, Inc. operates in the SERVICES-MANAGEMENT SERVICES sector, SIC code 8741.

When was Born, Inc. incorporated?

Born, Inc. was incorporated in Nevada.

What were Born, Inc.'s former names?

Born, Inc. was formerly known as QUTURE INTERNATIONAL, INC. and TECHS LOANSTAR, INC.

What is the business address of Born, Inc.?

The business address is 200 Magnolia Avenue, Daytona Beach, FL 32214.

What is the filing date of this 10-K report?

This 10-K report was filed as of January 6, 2025.

Filing Stats: 4,584 words · 18 min read · ~15 pages · Grade level 12.9 · Accepted 2025-01-06 08:40:44

Key Financial Figures

Filing Documents

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 3 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 10 Item 10. Directors, Executive Officers, and Corporate Governance 10 Item 11.

Executive Compensation

Executive Compensation 13 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 14 Item 13. Certain Relationships and Related Transactions, and Director Independence 15 Item 14. Principal Accounting Fees and Services 15 PART IV 16 Item 15. Exhibits, Financial Statement Schedules 16

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, 2023 and December 31, 202 2 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, 2023 and December 31, 2022 and, the related statements of operations, stockholders' (deficit), and cash flows for the years then ended, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2023 and December 31, 2022, and the results of its operations and its cash flows for the years then ended, in conformity with accounting principles generally accepted in the United States. Substantial Doubt about the Company's Ability to Continue as a Going Concern The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the financial statements, the Company has suffered recurrin

View Full Filing

View this 10-K filing on SEC EDGAR

View on Read The Filing