Defense Technologies International Corp. Files 10-Q for Period Ending January 31, 2024

TL;DR

<b>Defense Technologies International Corp. has filed its quarterly report (10-Q) for the period ending January 31, 2024.</b>

AI Summary

DEFENSE TECHNOLOGIES INTERNATIONAL CORP. (DTII) filed a Quarterly Report (10-Q) with the SEC on March 25, 2024. Defense Technologies International Corp. filed a Form 10-Q for the period ending January 31, 2024. The filing covers the third quarter of fiscal year 2024. The company was formerly known as Canyon Gold Corp. and changed its name on October 24, 2011. The company's fiscal year ends on April 30. The filing includes data related to preferred stock (Series A, B, D) and common stock.

Why It Matters

For investors and stakeholders tracking DEFENSE TECHNOLOGIES INTERNATIONAL CORP., this filing contains several important signals. This filing provides investors with an update on the company's financial performance and operational status for the third quarter of fiscal year 2024. Understanding the details within this 10-Q is crucial for assessing the company's current financial health and future prospects, especially given its history as Canyon Gold Corp.

Risk Assessment

Risk Level: — DEFENSE TECHNOLOGIES INTERNATIONAL CORP. shows moderate risk based on this filing. The filing is a standard 10-Q, providing routine financial disclosures without immediate indicators of significant risk or opportunity.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand the company's performance and outlook.

Key Numbers

• 2024-01-31 — Period End Date (Form 10-Q)
• 2024-03-25 — Filing Date (Form 10-Q)
• 2023-04-30 — Previous Fiscal Year End (Form 10-Q)

Key Players & Entities

• DEFENSE TECHNOLOGIES INTERNATIONAL CORP. (company) — Filer name
• CANYON GOLD CORP. (company) — Former company name
• 2024-01-31 (date) — Period of report
• 2024-03-25 (date) — Filed as of date
• 2011-10-24 (date) — Date of name change
• 0430 (date) — Fiscal year end

FAQ

Industry Context

Defense Technologies International Corp. operates within the defense technology sector, though its historical SIC code indicates gold and silver ores, suggesting a potential diversification or past business focus.

Regulatory Implications

The filing is a standard Form 10-Q, adhering to the reporting requirements of the Securities Exchange Act of 1934 for quarterly financial disclosures.

What Investors Should Do

1. Analyze the financial statements for revenue, expenses, and profitability trends.
2. Review the Management's Discussion and Analysis (MD&A) section for insights into operational performance and future outlook.
3. Check for any new risk factors or updates to existing ones disclosed in the filing.

Key Dates

• 2024-01-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-03-25: Filing Date — Date the 10-Q was officially submitted to the SEC.
• 2011-10-24: Name Change Date — Date Defense Technologies International Corp. changed its name from Canyon Gold Corp.

Year-Over-Year Comparison

This is the first 10-Q filing analyzed for Defense Technologies International Corp. in the current review cycle, providing a baseline for future comparisons.

Key Financial Figures

• $0.0001 — B preferred and 586 Series D preferred: $0.0001 par value, outstanding. 1 DEFENSE TEC
• $25,000 — to pay CCS an initial licensing fee of $25,000 and to pay ongoing royalties as defined
• $12,500 — ed and paid quarterly with a minimum of $12,500 paid each quarter (2) All payment will
• $49,012 — y 31, 2024, the Company had revenues of $49,012, has accumulated deficit of $ 16,978,03
• $378,600 — any for 17,500 shares of PSSI valued at $378,600 for 76.28% of PSSI. The balance of PSSI
• $100,000 — C Handels AG for short term loans up to $100,000. The loans bear interest at 6% per annu

Filing Documents

• dtii-20240131.htm (10-Q) — 502KB
• dtii_ex31z1.htm (EX-31.1) — 8KB
• dtii_ex32z1.htm (EX-32.1) — 5KB
• 0001096906-24-000569.txt (&nbsp;) — 2978KB
• dtii-20240131_cal.xml (EX-101.CAL) — 27KB
• dtii-20240131_def.xml (EX-101.DEF) — 136KB
• dtii-20240131_lab.xml (EX-101.LAB) — 217KB
• dtii-20240131_pre.xml (EX-101.PRE) — 180KB
• dtii-20240131.xsd (EX-101.SCH) — 47KB
• dtii-20240131_htm.xml (XML) — 311KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION Page Item 1.

Financial Statements

Financial Statements: Condensed Consolidated Balance Sheets as of January 31, 2024 (Unaudited) and April 30, 2023 (Audited) 3 Condensed Consolidated Statements of Operations for the Three and Nine Month Periods Ended January 31, 2024 and 2023 (Unaudited) 4 Condensed Consolidated Statements of Shareholders Deficit for the Three and Nine Months Ended January 31, 2024 and 2023 (Unaudited) 5 Condensed Consolidated Statements of Cash Flows for the Nine Month Periods Ended January 31, 2024 and 2023 (Unaudited) 6 Notes to Condensed Consolidated Financial Statements 7 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 16 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 18 Item 4.

Controls and Procedures

Controls and Procedures 18

— OTHER INFORMATION

PART II — OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 19 Item 1A.

Risk Factors

Risk Factors 19 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds. 19 Item 3. Defaults upon Senior Securities 19 Item 4. Mine Safety Disclosure 19 Item 5. Other Information 19 Item 6. Exhibits 20

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Defense Technologies International Corp. and Subsidiary Condensed Consolidated Balance Sheets January 31, 2024 April 30, 2023 (Unaudited) (Audited) ASSETS Current assets: Cash $ 304 $ 804 Inventory 7,599 34,512 Total current assets 7,903 35,316 Total assets $ 7,903 $ 35,316 Current liabilities: Accounts payable and accrued expense $ 356,146 $ 260,765 Accrued licenses agreement payable 75,000 37,500 Accrued interest and fees payable 167,735 150,517 Convertible notes payable, net of discount 279,085 319,767 Derivative liabilities 41,181 65,826 Payables – related parties 1,120,858 910,524 Customer deposits 40,375 30,375 Notes payable 20,042 64,092 Note payable- related party 138,988 115,600 Total current liabilities 2,239,410 1,954,966 Total liabilities 2,239,410 1,954,966 Commitments and Contingencies - - - - Stockholders' deficit: Preferred stock, $ 0.0001 par value; 20,000,000 shares authorized, Series A –– 2,535,135 shares issued and outstanding, respectively 253 292 Series B – 1,905,920 and 1,910,670 shares issued and outstanding, respectively 190 191 Series D – 586 and 600 shares issued and outstanding, respectively - - - - Common stock, $ 0.0001 par value; 600,000,000 shares authorized, 9,077,038 and 1,803,042 shares issued and outstanding, respectively 909 181 Additional paid-in capital 15,053,834 14,905,851 Accumulated deficit ( 16,978,037 ) ( 16,527,130 ) Total ( 1,922,851 ) ( 1,620,615 ) Non-controlling interest ( 308,657 ) ( 299,035 ) Total stockholders' deficit ( 2,231,508 ) ( 1,919,650 ) Total liabilities and stockholders' deficit $ 7,903 $ 35,316 See notes to condensed consolidated financial statements 3 Defense Technologies International Corp. and Subsidiary Condensed Consolidated Statements of Operations As of January 31, (Unaudited) Three Months Nine Months 2024

View Full Filing

View this 10-Q filing on SEC EDGAR