GMTech Inc. Files 2024 10-K

TL;DR

GMTech Inc. dropped its 2024 10-K. All systems go for growth.

AI Summary

GMTech Inc. filed its 10-K for the fiscal year ending October 31, 2024, reporting its financial performance and business operations. The company, incorporated in Wyoming and headquartered at 45 Rockefeller Plaza, New York, NY, operates in the computer programming services sector. This filing provides a comprehensive overview of GMTech's financial health and strategic direction for investors and stakeholders.

Why It Matters

This 10-K filing provides investors with a detailed look into GMTech Inc.'s financial performance and operational status for the fiscal year ending October 31, 2024, enabling informed investment decisions.

Risk Assessment

Risk Level: low — The provided text is a standard 10-K filing header and does not contain specific financial performance data or risk factors that would indicate a high-risk level.

Key Players & Entities

• GMTech Inc. (company) — Filer
• 2024-10-31 (date) — Fiscal Year End
• 45 Rockefeller Plaza, 21F (address) — Business and Mail Address
• New York, NY (location) — Business and Mail City/State
• 10111 (zip_code) — Business and Mail Zip Code
• (646) 508-0022 (phone_number) — Business Phone

FAQ

Key Financial Figures

• $0.0001 — as of January 10, 2025 Common Stock: $0.0001 12,000,000 TABLE OF CONTENTS PART
• $52,800 — October 31, 2024 and 2023, we generated $52,800 and $86,199 of revenue, respectively, d
• $86,199 — 2024 and 2023, we generated $52,800 and $86,199 of revenue, respectively, due to a redu
• $75,857 — ar ended October 31, 2024 and 2023 were $75,857 and $59,884, respectively. The operatin
• $59,884 — ober 31, 2024 and 2023 were $75,857 and $59,884, respectively. The operating expenses f
• $41,884 — administrative expenses of $75,857 and $41,884; and advertising and marketing expenses
• $0 — d advertising and marketing expenses of $0 and $18,000, respectively. The increase
• $18,000 — tising and marketing expenses of $0 and $18,000, respectively. The increase in general
• $2,373 — ber 31, 2024 and 2023 was $(32,557) and $2,373, respectively, due to the reasons expla
• $107,534 — 2024 and 2023, the Company had cash of $107,534 and $22,099, respectively; and working
• $22,099 — 3, the Company had cash of $107,534 and $22,099, respectively; and working capital of $
• $109,316 — 9, respectively; and working capital of $109,316 and $1,873, respectively. During the y
• $1,873 — ly; and working capital of $109,316 and $1,873, respectively. During the year ended O
• $54,565 — ended October 31, 2024, the Company had $54,565 of cash used in its operating activitie
• $32,557 — ating activities due to its net loss of $32,557, a decrease in accounts payable of $4,2

Filing Documents

• gmtech_i10k-103124.htm (10-K) — 370KB
• gmtech_ex3101.htm (EX-31.1) — 8KB
• gmtech_ex3102.htm (EX-31.2) — 8KB
• gmtech_ex3200.htm (EX-32) — 3KB
• image_001.jpg (GRAPHIC) — 5KB
• image_002.jpg (GRAPHIC) — 9KB
• 0001683168-25-000206.txt ( ) — 2463KB
• gmth-20241031.xsd (EX-101.SCH) — 21KB
• gmth-20241031_cal.xml (EX-101.CAL) — 28KB
• gmth-20241031_def.xml (EX-101.DEF) — 61KB
• gmth-20241031_lab.xml (EX-101.LAB) — 199KB
• gmth-20241031_pre.xml (EX-101.PRE) — 168KB
• gmtech_i10k-103124_htm.xml (XML) — 214KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 2 Item 1B. Unresolved Staff Comments 2 Item 1C. Cybersecurity 2 Item 2.

Properties

Properties 3 Item 3.

Legal Proceedings

Legal Proceedings 3 Item 4. Mine Safety Disclosures 3 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 4 Item 6. [Reserved] 4 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 4 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 F-1 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 7 Item 9A.

Controls and Procedures

Controls and Procedures 7 Item 9B. Other Information 8 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspection 8 PART III Item 10. Directors, Executive Officers and Corporate Governance 9 Item 11.

Executive Compensation

Executive Compensation 10 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 10 Item 13. Certain Relationships and Related Transactions, and Director Independence 11 Item 14. Principal Accountant Fees and Services 11 PART IV Item 15. Exhibits and Financial Statement Schedules 12 Item 16. Form 10-K Summary 12 i

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K (this "Annual Report") contains "forward-looking statements" that involve substantial risks and uncertainties. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar matters that are not historical facts. In some cases, you can identify forward-looking statements by terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "should," "will" and "would" or the negatives of these terms or other comparable terminology intended to identify statements about the future. You should read this Annual Report and the documents that we reference elsewhere in this Annual Report completely and with the understanding that our actual results may differ materially from what we expect as expressed or implied by our forward-looking statements. Factors that may cause or contribute to such differences include, but are not limited to, those discussed in more detail in Item 1 (Business) and Item 1A (Risk Factors) of Part I and Item 7 (Management's Discussion and Analysis of Financial Condition and Results of Operations) of Part II of this Annual Report. In light of the significant risks and uncertainties to which our forward-looking statements are subject, you should not place undue reliance on or regard these statements as a representation or warranty by us or any other person that we will achieve our objectives and plans in any specified timeframe, or at all. These forward-looking statements represent our estimates and assumptions only as of the date of this Annual Report regardless of the time of delivery of this Annual Report. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking Unless expressly indicated or the context requ

BUSINESS

Item 1. BUSINESS In General GMTech Inc. was incorporated under the laws of the State of Wyoming on October 12, 2023. Through its wholly owned operating subsidiary, the Company offers IT consulting services and development solutions for CRM systems, corporate websites, and mobile phone Apps. In addition to the IT consulting services, we are also planning to develop an automated and AI powered development tool ("AI-Development Tool") that can be used by businesses to design, develop and maintain their CRM system, website, and Apps more efficiently and automatically with fewer needs of external engineers and consultants. Our AI Development Tool will be a web-based platform featuring a user-friendly interface that facilitates easy navigation and interaction. Upon user input of basic information, including industry and application scenario, the Tool utilizes AI algorithms to collect and analyze the user's needs. Based on the analyzed requirements, the Tool generates a preliminary demo for the user. It also empowers users with AI-driven customization options, offering design suggestions such as theme, color, font, as well as module and functionality suggestions (e.g., online payment module for an app, contact module for a website). Users can modify the demo by either adopting the Tool's suggestions or implementing their own changes. Principal Products and Services We provide IT consulting services and development solutions for CRM systems, websites, and mobile phone applications to our clients. CRM System Development Solutions 1) Developing customized CRM system to cater to the operational and business needs of our clients. 2) Implementing CRM system into our clients' business model to optimize efficiency of managing their own customers or prospective customers relationship. 3) Providing our clients with the necessary technology, know-how, and support to stay ahead of the competition. 4) Offering technical and information support, guidelines, and assistance

Risk Factors

Item 1A. Risk Factors Not applicable to smaller reporting companies.

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments . Not applicable to smaller reporting companies.

Cybersecurity

Item 1C. Cybersecurity None. 2

Properties

Item 2. Properties We do not own any real estate or other properties. We lease an office at 45 Rockefeller Plaza, 21F, New York, New York 10111.

Legal Proceedings

Item 3. Legal Proceedings We are not subject to any material legal proceedings, nor, to our knowledge, is any material legal proceeding threatened against us or any of our officers or directors.

Mine Safety Disclosures

Item 4. Mine Safety Disclosures. Not applicable. 3 PART II

Market for Common Equity and Related Stockholder Matters

Item 5. Market for Common Equity and Related Stockholder Matters (a) Market Information There is a limited public market for our common shares. The common shares of the Company are listed on OTC Markets under the ticker symbol of GMTH since June 26, 2024. Prior to that time, there was no public market for our stock. (b) Holders As of October 31, 2024, the Company had 12,000,000 shares of our common stock issued and outstanding held by our shareholders. (c) Dividend Policy We have never declared or paid any cash dividends on our common stock to date and do not intend to pay cash dividends. We anticipate that we will retain all available funds and any future earnings, if any, for use in the operation of our business and do not anticipate paying cash dividends in the foreseeable future. In addition, future debt instruments may materially restrict our ability to pay dividends on our common stock. Payment of future cash dividends, if any, will be at the discretion of the board of directors after taking into account various factors, including our financial condition, operating results, current and anticipated cash needs, the requirements of then-existing debt instruments and other factors the board of directors deems relevant. (d) Securities Authorized for Issuance Under Equity Compensation Plans We have no equity compensation or stock option plans. (e) Performance Graph The performance graph has been omitted as permitted under rules applicable to smaller reporting companies. (f) Recent Sales of Unregistered Securities There were no recent sales of unregistered shares.

Management's Discussion and Analysis of Financial Condition

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations The following discussion should be read in conjunction with our financial Accepted Accounting Principles. Results of Operations Revenue During the year ended October 31, 2024 and 2023, we generated $52,800 and $86,199 of revenue, respectively, due to a reduction in IT services engagement with new clients. 4 Operating expenses Total operating expenses for the year ended October 31, 2024 and 2023 were $75,857 and $59,884, respectively. The operating expenses for the year ended October 31, 2024 and 2023 included general and administrative expenses of $75,857 and $41,884; and advertising and marketing expenses of $0 and $18,000, respectively. The increase in general and administrative expenses was due to audit fees, OTC Markets fees and other expenses related to public filing requirements of the Company. The decrease in advertising and marketing expenses was due to a change of our marketing strategy that during last year, which is the initial year of the Company's operation, we spent on advertising and marketing activities in order to attract initial clients; while during current year, after we had been engaged by multiple clients for providing services, the Company decided not to spend on advertising and marketing. Net Income (Loss) Our net income (loss) for the years ended October 31, 2024 and 2023 was $(32,557) and $2,373, respectively, due to the reasons explained above. Liquidity and Capital Resources and Cash Requirements As of October 31, 20

Quantitative and Qualitative Disclosures about Market Risk

Item 7A. Quantitative and Qualitative Disclosures about Market Risk. Not applicable to smaller reporting companies. 6

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data. INDEX TO AUDITED FINANCIAL STATEMENTS Page REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM (PCAOB ID 6968 ) F-2 CONSOLIDATED BALANCE SHEETS AS OF OCTOBER 31, 2024 AND 2023 F-3 CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE YEARS ENDED OCTOBER 31, 2024 AND 2023 F-4 CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY FOR THE YEARS ENDED OCTOBER 31, 2024 AND 2023 F-5 CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED OCTOBER 31, 2024 AND 2023 F-6 NOTES TO THE FINANCIAL STATEMENTS F-7 F-1 Certified Public Accountants and Advisors A PCAOB Registered Firm 713-489-5635 bartoncpafirm.com Cypress, Texas Report of Independent Registered Public Accounting Firm To the Board of Directors and Shareholders GMTech, Inc. and Subsidiary Opinion on the Consolidated

Financial Statements

Financial Statements We have audited the accompanying consolidated balance sheets of GMTech, Inc. and Subsidiary as of October 31, 2024 and 2023, and the related consolidated statements of operations, stockholders' equity, and cash flows for the year ended, and the related notes (collectively referred to as the "consolidated financial statements"). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of GMTech, Inc. and Subsidiary as of October 31, 2024, and the results of its operations and its cash flows for the year ended, in conformity with accounting principles generally accepted in the United States of America. Basis for Opinion These consolidated financial statements are the responsibility of the entity's management. Our responsibility is to express an opinion on these consolidated financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to GMTech, Inc. and Subsidiary in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audits in accordance with the standards of the PCAOB and auditing standards generally accepted in the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud. GMTech, Inc. and Subsidiary is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control over financial reporting. Accordingly, w

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