OpenLocker Holdings, Inc. Files 10-Q for Period Ending January 31, 2024

TL;DR

<b>OpenLocker Holdings, Inc. has filed its Q2 10-Q report for the period ending January 31, 2024, detailing its financial status and corporate history.</b>

AI Summary

OpenLocker Holdings, Inc. (CRSF) filed a Quarterly Report (10-Q) with the SEC on March 15, 2024. OpenLocker Holdings, Inc. filed a 10-Q report for the period ending January 31, 2024. The company was formerly known as Descrypto Holdings, Inc., W Technologies, Inc., and Winning Edge International, Inc. The fiscal year end for OpenLocker Holdings, Inc. is July 31. The filing is for the second quarter of the fiscal year. The company's business address is in West Palm Beach, Florida.

Why It Matters

For investors and stakeholders tracking OpenLocker Holdings, Inc., this filing contains several important signals. This filing provides investors with an updated view of the company's financial performance and position as of Q2 2024. Understanding the company's former names and fiscal year end is crucial for historical context and financial analysis.

Risk Assessment

Risk Level: low — OpenLocker Holdings, Inc. shows low risk based on this filing. The filing is a standard 10-Q, providing routine financial updates without immediate indicators of significant risk or opportunity.

Analyst Insight

Monitor future filings for revenue and net income trends, especially concerning their 'Collectibles' and 'Sponsorship' segments.

Key Numbers

• 2024-01-31 — Period End Date (Conformed Period of Report)
• 2024-03-15 — Filing Date (Filed as of Date)
• 0731 — Fiscal Year End (Fiscal Year End)
• 20220203 — Date of Name Change (Former company name Descrypto Holdings, Inc.)

Key Players & Entities

• OpenLocker Holdings, Inc. (company) — Filer name
• Descrypto Holdings, Inc. (company) — Former company name
• W Technologies, Inc. (company) — Former company name
• Winning Edge International, Inc. (company) — Former company name
• West Palm Beach (location) — Business address city
• FL (location) — Business address state
• 0731 (date) — Fiscal year end
• 2024-01-31 (date) — Period of report

FAQ

Industry Context

OpenLocker Holdings, Inc. operates within the finance services sector, specifically identified with SIC code 6199.

Regulatory Implications

The filing adheres to the requirements of the 1934 Securities Exchange Act, mandating quarterly financial disclosures for public companies.

What Investors Should Do

1. Review the full 10-Q for detailed financial statements and management discussion.
2. Track segment performance for 'Collectibles' and 'Sponsorship' in future filings.
3. Research the company's historical performance under its previous names.

Key Dates

• 2024-01-31: Period End Date — End of the reporting quarter.
• 2024-03-15: Filing Date — Date the 10-Q was officially filed with the SEC.
• 2023-07-31: Previous Fiscal Year End — Marks the end of the prior fiscal year.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides investors with a comprehensive overview of a company's financial performance during the quarter.)

Year-Over-Year Comparison

This is the first 10-Q filing available in the provided data for OpenLocker Holdings, Inc. for the period ending January 31, 2024.

Key Financial Figures

• $0 — 4,650 shares of common stock, par value $0.0001, issued and outstanding. Table o

Filing Documents

• form10-q.htm (10-Q) — 868KB
• ex31-1.htm (EX-31.1) — 12KB
• ex31-2.htm (EX-31.2) — 12KB
• ex32-1.htm (EX-32.1) — 7KB
• 0001493152-24-010109.txt (&nbsp;) — 5175KB
• olkr-20240131.xsd (EX-101.SCH) — 39KB
• olkr-20240131_cal.xml (EX-101.CAL) — 41KB
• olkr-20240131_def.xml (EX-101.DEF) — 151KB
• olkr-20240131_lab.xml (EX-101.LAB) — 358KB
• olkr-20240131_pre.xml (EX-101.PRE) — 297KB
• form10-q_htm.xml (XML) — 839KB

—Financial Information

Part I—Financial Information Item 1.

Financial Statements

Financial Statements 4 Consolidated Balance Sheets at January 31, 2024 and July 31, 2023 (Unaudited) 4 Consolidated Statements of Operations for the Three and Six Months Ended January 31, 2024 and 2023 (Unaudited) 5 Consolidated Statements of Changes in Stockholders' Deficit for the Three and Six Months Ended January 31, 2024 and 2023 (Unaudited) 6 Consolidated Statements of Cash Flows for the Three and Six Months Ended January 31, 2024 and 2023 (Unaudited) 8 Notes to Unaudited Consolidated Financial Statements 9 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 24 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 31 Item 4.

Controls and Procedures

Controls and Procedures 31

—Other Information

Part II—Other Information Item 1.

Legal Proceedings

Legal Proceedings 31 Item 1A.

Risk Factors

Risk Factors 31 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 32 Item 3. Defaults Upon Senior Securities 32 Item 4. Mine Safety Disclosures 32 Item 5. Other Information 32 Item 6. Exhibits 32

Signatures

Signatures 33 2 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report includes "forward-looking statements" within the meaning of the federal securities laws that involve risks and uncertainties. Forward-looking statements include statements we make concerning our plans, objectives, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs and other information that is not historical information. When used in this quarterly report, the words "estimates," "expects," "anticipates," "projects," "forecasts," "plans," "intends," "believes," "foresees," "seeks," "likely," "may," "might," "will," "should," "goal," "target" or "intends" and variations of these words or similar expressions (or the negative versions of any such words) are intended to identify forward-looking statements. All forward-looking statements are based upon information available to us on the date of this Quarterly Report. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of our control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. These risks and uncertainties are discussed in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended July 31, 2023, filed with the Securities and Exchange Commission on November 1, 2023, as the same may be updated from time to time. All forward-looking statements attributable to us in this Quarterly Report apply only as of the date of this Quarterly Report and are expressly qualified in their entirety by the cautionary statements included in this Quarterly Report. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to publicly update or revise forward-l

Business

Business Combinations The Company accounts for business combinations using the acquisition method in accordance with the Financial Accounting Standards Board's (the "FASB") Accounting Standards Codification ("ASC") 805, Business Combinations , which requires recognition of assets acquired and liabilities assumed, including contingent assets and liabilities, at their respective fair values on the date of acquisition.

Business

Business Segments and Concentrations The Company uses the "management approach" to identify its reportable segments. The management approach requires companies to report segment financial information consistent with information used by management for making operating decisions and assessing performance as the basis for identifying the Company's reportable segments. The Company manages its business as a single operating segment. Use of Estimates Preparing financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reported period. Actual results could differ from those estimates, and those estimates may be material. Fair Value of Financial Instruments The Company accounts for financial instruments under ASC 820, Fair Value Measurements . ASC 820 provides a framework for measuring fair value and requires disclosures regarding fair value measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, based on the Company's principal or, in absence of a principal, most advantageous market for the specific asset or liability. The Company uses a three-tier fair value hierarchy to classify and disclose all assets and liabilities measured at fair value on a recurring basis, as well as assets and liabilities measured at fair value on a non-recurring basis, in periods subsequent to their initial measurement. The hierarchy requires the Company to use observable inputs when available, and to minimize the use of unobservable inputs, when determining fair value. The three tiers are defined as follows: Level 1 —Observable inputs that reflect quoted market prices (unadjusted) for identical assets or l

View Full Filing

View this 10-Q filing on SEC EDGAR