Byrn, Inc. Files Q1 2024 10-Q Report

TL;DR

Byrn, Inc. (fka Born, Inc.) filed its 10-Q for Q1 2024. Check financials.

AI Summary

Byrn, Inc. filed its quarterly report (10-Q) for the period ending March 31, 2024. The company, formerly known as Born, Inc., is incorporated in Nevada and its principal executive offices are located in Reno, Nevada. The filing was made on January 13, 2025.

Why It Matters

This filing provides investors with an update on Byrn, Inc.'s financial performance and operational status for the first quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly filing and does not contain immediate red flags.

Key Players & Entities

• Byrn, Inc. (company) — Registrant
• Born, Inc. (company) — Former company name
• March 31, 2024 (date) — Quarterly period end date
• January 13, 2025 (date) — Filing date
• Nevada (location) — State of incorporation
• Reno, Nevada (location) — Principal executive offices

FAQ

Filing Documents

• ea0226834-10q_borninc.htm (10-Q) — 221KB
• ea022683401ex31_borninc.htm (EX-31) — 12KB
• ea022683401ex32_borninc.htm (EX-32) — 4KB
• 0001213900-25-002837.txt ( ) — 1694KB
• brrn-20240331.xsd (EX-101.SCH) — 14KB
• brrn-20240331_cal.xml (EX-101.CAL) — 11KB
• brrn-20240331_def.xml (EX-101.DEF) — 73KB
• brrn-20240331_lab.xml (EX-101.LAB) — 120KB
• brrn-20240331_pre.xml (EX-101.PRE) — 77KB
• ea0226834-10q_borninc_htm.xml (XML) — 84KB

– FINANCIAL INFORMATION

Part I – FINANCIAL INFORMATION 1 Item 1. Condensed Financial Statements (unaudited) 2 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 11 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 12 Item 4.

Controls and Procedures

Controls and Procedures 12

– OTHER INFORMATION

Part II – OTHER INFORMATION 14 Item 1.

Legal Proceedings

Legal Proceedings 14 Item 1A.

Risk Factors

Risk Factors 14 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 14 Item 3. Defaults Upon Senior Securities 14 Item 4. Mine Safety Disclosures 14 Item 5. Other Information 14 Item 6. Exhibits 14

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Information contained in this quarterly report on Form 10-Q contains "forward-looking statements." These forward-looking statements are contained principally in the section titled "Management's Discussion and Analysis of Financial Condition and Results of Operations," and are generally identifiable by use of the words "may," "will," "should," "expect," "anticipate," "estimate," "believe," "intend" or "project" or the negative of these words or other variations on these words or comparable terminology. The forward-looking statements herein represent our expectations, beliefs, plans, intentions or strategies concerning future events, including, but not limited to: our ability to consummate the Merger, as such term is defined below; our future financial performance; the continuation of historical trends; the sufficiency of our resources in funding our operations; our intention to engage in mergers and acquisitions; and our liquidity and capital needs. Our forward-looking statements are based on assumptions that may be incorrect, and there can be no assurance that any projections or other expectations included in any forward-looking statements will come to pass. Moreover, our forward-looking statements are subject to various known and unknown risks, uncertainties and other factors that may cause our actual results, performance, or achievements to be materially different from future results, performance or achievements expressed or implied by any forward-looking statements. These risks, uncertainties and other factors include but are not limited to: the risks of limited management, labor, and financial resources; our ability to establish and maintain adequate internal controls; our ability to develop and maintain a market in our securities; and our ability obtain financing, if and when needed, on terms that are acceptable. Except as required by applicable laws, we undertake no obligat

Condensed Financial Statements

Item 1. Condensed Financial Statements. Index to Condensed Financial Statements Page CONDENSED FINANCIAL STATEMENTS: Condensed Balance Sheets, March 31, 2024 (unaudited), and December 31, 2023 3 Unaudited Condensed Statements of Operations for the Three Months Ended March 31, 2024, and March 31, 202 3 4 Unaudited Condensed Statements of Changes in Stockholders' Deficit for the Three Months Ended March 31, 2024, and 2023 5 Unaudited Condensed Statements of Cash Flows for the Three Months Ended March 31, 2024, and 202 3 6 Notes to the Unaudited Condensed Interim Financial Statements 7 2 BORN, INC. BALANCE SHEETS March 31, December 31, 2024 2023 (Unaudited) ASSETS Total Assets $ - $ - LIABILITIES & STOCKHOLDERS' DEFICIT Accounts payable $ 15,628 $ 14,440 Related party payables 16,306 15,677 Current liabilities 31,934 30,117 Total liabilities 31,934 30,117 Stockholders' Deficit Preferred stock, par value $ .001 , 10,000,000 shares authorized, 10,000,000 issued and outstanding as of March 31, 2024 and December 31, 2023 respectively 10,000 10,000 Common stock, Par Value $ .001 , 500,000,000 shares authorized, 419,984,423 and 419,984,423 issued and outstanding of shares as of March 31, 2024 and December 31, 2023, respectively 419,985 419,985 Additional paid in capital 117,017,022 117,017,022 Accumulated deficit ( 117,478,941 ) ( 117,477,124 ) Total Stockholders' (Deficit) ( 31,934 ) ( 30,117 ) Total Liabilities and Stockholders' Deficit $ - $ - The accompanying notes are an integral part of these unaudited condensed financial statements. 3 BORN, INC. (Unaudited) Three months ended March 31, Three months ended March 31, 2024 2023 Revenue $ - $ - Operating Expenses: Administrative expenses-related party 1,817 2,188 Total operating expenses 1,817 2,188 (Loss) from operations ( 1,817 ) ( 2,188 ) Other (expense) income Other (

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED MARCH 31, 2024 AND MARCH 31, 2023 NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS Born, Inc. f/k/a "Quture International, Inc. ("Born", "we", "us", or, the "Company"), is a Nevada corporation, 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 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. 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, $ 0.001 par

Management's Discussion and Analysis of Financial Condition

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. Organizational History of the Company and Overview No Current Operations Plan of Operation The Company has no operations from a continuing business other than the expenditures related to running the Company and has no revenue from continuing operations as of the date of this Report. Management intends to explore and identify business opportunities within the U.S., including a potential acquisition of an operating entity through a reverse merger, asset purchase or similar transaction. Our Chief Executive Officer has experience in business consulting, although no assurances can be given that he can identify and implement a viable business strategy or that any such strategy will result in profits. Our ability to effectively identify, develop and implement a viable plan for our business may be hindered by risks and uncertainties which are beyond our control, including without limitation, the continued negative effects of the coronavirus pandemic on the U.S. and global economies. We do not currently engage in any business activities that provide revenue or cash flow. During the next 12-month period we anticipate incurring costs in connection with investigating, evaluating, and negotiating potential business combinations, filing SEC reports, and consummating an acquisition of an operating business. Given our limited capital resources, we may consider a business combination with an entity which has recently commenced operations, is a developing company or is otherwise in need of additional funds for the development of new products or services or expansion into new markets or is an established business experiencing financial or operating difficulties and is in need of additional capital. Alternatively, a business combination may involve the acquisition of, or merger with, an entity which desires access to the U.S. capital markets. As of the date of this Report, our man

View Full Filing

View this 10-Q filing on SEC EDGAR