NEXT-ChemX Corp. Files Q2 2025 10-Q

TL;DR

NEXT-ChemX filed their Q2 10-Q. All systems go.

AI Summary

NEXT-ChemX Corporation filed a 10-Q for the period ending June 30, 2025. The company, formerly known as AllyMe Group, Inc./NV, is incorporated in Nevada and operates in the miscellaneous chemical products sector. Their business address is in Austin, Texas.

Why It Matters

This filing provides investors with an update on NEXT-ChemX Corporation's financial performance and operational status for the second quarter of 2025.

Risk Assessment

Risk Level: low — The filing is a standard quarterly report with no immediately apparent significant risks or negative disclosures.

Key Numbers

• 20250630 — Reporting Period End Date (Indicates the end of the financial quarter being reported.)
• 20250819 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• NEXT-ChemX Corporation (company) — Filer of the 10-Q
• AllyMe Group, Inc./NV (company) — Former name of NEXT-ChemX Corporation
• 20250630 (date) — End of the reporting period
• 20250819 (date) — Filing date of the 10-Q
• Austin, Texas (location) — Business and mailing address

FAQ

Filing Documents

• form10-q.htm (10-Q) — 501KB
• ex31-1.htm (EX-31.1) — 17KB
• ex31-2.htm (EX-31.2) — 17KB
• ex32-1.htm (EX-32.1) — 14KB
• form10-q_001.jpg (GRAPHIC) — 3KB
• 0001641172-25-024817.txt ( ) — 3032KB
• chmx-20250630.xsd (EX-101.SCH) — 25KB
• chmx-20250630_cal.xml (EX-101.CAL) — 36KB
• chmx-20250630_def.xml (EX-101.DEF) — 97KB
• chmx-20250630_lab.xml (EX-101.LAB) — 199KB
• chmx-20250630_pre.xml (EX-101.PRE) — 164KB
• form10-q_htm.xml (XML) — 337KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements F-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 3 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 Sale of Equity Securities and Use of Proceeds 7 Item 3. Defaults Upon Senior Securities 8 Item 4. Mine Safety Disclosures 8 Item 5. Other Information 8 Item 6. Exhibits 8

Signatures

Signatures 9 Caution Regarding Forward-Looking Information This Quarterly Report on Form 10-Q, including, without limitation, statements containing the words "believes", "anticipates", "expects" and words of similar import, constitute forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking Such factors include, among others, the following: international, national and local general economic and market conditions: demographic changes; the ability of the Company to sustain, manage or forecast its growth; the ability of the Company to successfully make and integrate acquisitions; existing government regulations and changes in, or the failure to comply with, government regulations; adverse publicity; competition; fluctuations and difficulty in forecasting operating results; changes in business strategy or development plans; business disruptions; the ability to attract and retain qualified personnel; and other factors referenced in this and previous filings. Given these uncertainties, readers of this Form 10-Q and investors are cautioned not to place undue reliance on such forward-looking statements. The Company disclaims any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking 2 NEXT-CHEMX CORPORATION INTERIM

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS (UNAUDITED) Table of Contents Page Condensed Balance Sheets as of June 30, 2025 (not reviewed) and December 31, 2024 (unaudited) F-2 Condensed Statements of Operations for the three and six months ended June 30, 2025 (not reviewed) and 2024 (unaudited) F-3 Condensed Statements of Changes in Stockholders' Equity (Deficit) for the three and six months ended June 30, 2025 (not reviewed) and 2024 (unaudited) F-4 Condensed Statements of Cash Flows for the six months ended June 30, 2025 (not reviewed) and 2024 (unaudited) F-5 Notes to Unaudited Condensed Financial Statements F-6 F-1 PART I FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS. NEXT-ChemX Corporation Condensed Balance Sheets (unaudited) (not reviewed) June 30, December 31, 2025 (not reviewed) 2024 (unaudited) ASSETS Current Assets: Cash $ 22,041 $ 62,547 Financial Assets 40,973 38,549 Prepaid expense and other current assets 635,041 604,408 Total Current Assets 698,055 705,504 Property and equipment, net 4,705 7,285 Intangible asset, net 2,467,294 2,542,185 Total Non-current Assets 2,471,999 2,549,470 Total Assets $ 3,170,054 $ 3,254,974 LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities: Accounts payable and accrued liabilities $ 3,441,236 $ 3,119,321 Other Current Liabilities 500,000 500,000 Loan payable 845,000 845,000 Due to related party 127,215 107,445 Other Current Liabilities 127,215 107,445 Total Current Liabilities 4,913,451 4,571,766 Non-Current Liabilities: Notes payable 2,080,004 1,585,004 Total Non-Current Liabilities 2,080,004 1,585,004 Total Liabilities $ 6,993,455 $ 6,156,770 Commitments and Contingencies - - Stockholders' Equity (Deficit): Preferred stock, $ 0.001 par value, 5,000,000 shares authorized: 20,000 Series A unissued, cancelled on June 30, 2025 - - 20,000 Series F unissued, cancelled on June 30, 2025 - - Pre

Financial Statements

Financial Statements The accompanying unaudited condensed interim financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial information, and in accordance with the rules and regulations of the United States Securities and Exchange Commission with respect to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The unaudited interim financial statements furnished reflect all adjustments (consisting of normal recurring adjustments) that are, in the opinion of management, necessary for a fair statement of the results for the interim periods presented. Interim results are not necessarily indicative of the results for the full year. These unaudited interim financial statements should be viewed in conjunction with the Compliant Reporting, including the 2023 Annual Report on Form 10-K/A filed on April 28, 2025 and the Company's quarterly report on Form 10-Q/A for the period ending March 30, 2024 filed on June 30, 2025. This interim financial statement has not been reviewed by the Company's auditors. The

financial statements are presented in United States dollars

financial statements are presented in United States dollars. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Evaluation of Long-Lived Intangible Assets The Company acquired its principal intellectual property asset in the second quarter of 2021. The value of the asset was initially derived from the underlying arms' length transaction in which the company owning the technology transferred the technology to the Company in exchange for a specific number of shares of Common Stock of the Company. The value of the shares was itself derived from the fact that such shares were bought and sold in an arms' length transaction that occurred simultaneously. The technology composed initially of patents and patent applications as well as certain knowhow was initially amortized by the Company. However, during fiscal year 2021, due to the nature of the technology behind the asset and its application across multiple disciplines and businesses, Management considered the asset to be greater than the individual patents and possible patent applications. Certain technological ideas give rise to various applications (stem technologies'). For this reason, on September 30, 2021, the asset as a stem technology was reclassified as an intangible asset of indefinite life. The value taken was that of its book value at the third quarter end 2021 following initial amortization. Intangible assets of indefinite life are not amortized, but instead tested for impairment at least annually or more frequently if events and circumstances indicate that the asset might be impaired. The

View Full Filing

View this 10-Q filing on SEC EDGAR