GMTech Inc. Files 10-Q for Q1 2024 Ending January 31

TL;DR

<b>GMTech Inc. has submitted its Q1 2024 10-Q filing, confirming compliance with reporting requirements.</b>

AI Summary

GMTech Inc. (GMTH) filed a Quarterly Report (10-Q) with the SEC on March 13, 2024. GMTech Inc. filed its quarterly report (10-Q) for the period ending January 31, 2024. The company is incorporated in Wyoming and its principal executive offices are located in New York. GMTech Inc. has confirmed it has filed all required reports for the past 12 months and submitted all Interactive Data Files. The filing indicates the company is not a large accelerated filer, accelerated filer, or non-accelerated filer. The report covers the first quarter of the fiscal year 2024.

Why It Matters

For investors and stakeholders tracking GMTech Inc., this filing contains several important signals. The 10-Q filing provides a regular update on the company's financial performance and operational status for the quarter. As a quarterly report, it allows investors and analysts to track GMTech Inc.'s progress and make informed decisions.

Risk Assessment

Risk Level: low — GMTech Inc. shows low risk based on this filing. The filing is a standard 10-Q report, indicating routine financial disclosure rather than significant new events or risks.

Analyst Insight

Monitor future 10-Q filings for detailed financial performance metrics and segment data.

Key Players & Entities

• GMTech Inc. (company) — Filer
• January 31, 2024 (date) — Quarterly period ended
• Wyoming (jurisdiction) — State of incorporation
• New York (location) — Principal executive offices
• 10-Q (document) — Form type
• 2024 (date) — Fiscal year

FAQ

Industry Context

GMTech Inc. operates within the Services-Computer Programming Services industry (SIC code 7371).

Regulatory Implications

The company is subject to the reporting requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934.

What Investors Should Do

1. Review the full 10-Q for detailed financial statements.
2. Analyze any management's discussion and analysis (MD&A) section for operational insights.
3. Track future filings for changes in financial health and strategic direction.

Key Dates

• 2024-01-31: Quarterly period end — End of the reporting period for the 10-Q.
• 2024-03-13: Filing date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, following the period ending January 31, 2024.

Key Financial Figures

• $0.0001 — as of January 31, 2024 Common Stock: $0.0001 5,000,000 TABLE OF CONTENTS PART 1
• $22,800 — uary 31, 2024, we generated revenues of $22,800. Our net income for the three months e
• $983 — three months ended January 31, 2024 was $983. Operating expenses consist of mainly l
• $8,119 — January 31, 2024, our total assets were $8,119 consisting of cash and cash equivalents
• $5,951 — sisting of cash and cash equivalents of $5,951 and prepaid rent of $2,168. As of Janua
• $2,168 — uivalents of $5,951 and prepaid rent of $2,168. As of January 31, 2024, our total liab
• $5,263 — ry 31, 2024, our total liabilities were $5,263 consisting of accounts payable $5,263.
• $0 — assets and total liabilities were both $0. 13 Cash Flows from Operating Activi
• $16,148 — cash flows from operating activities of $16,148, consisting of mainly decrease in defer

Filing Documents

• gmtech_i10q-013124.htm (10-Q) — 226KB
• gmtech_ex3101.htm (EX-31.1) — 8KB
• gmtech_ex3102.htm (EX-31.2) — 8KB
• gmtech_ex3200.htm (EX-32.1) — 4KB
• 0001683168-24-001443.txt (&nbsp;) — 1776KB
• none-20240131.xsd (EX-101.SCH) — 15KB
• none-20240131_cal.xml (EX-101.CAL) — 24KB
• none-20240131_def.xml (EX-101.DEF) — 28KB
• none-20240131_lab.xml (EX-101.LAB) — 167KB
• none-20240131_pre.xml (EX-101.PRE) — 130KB
• gmtech_i10q-013124_htm.xml (XML) — 127KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Consolidated Balance Sheet as of January 31, 2024 (Unaudited) and October 31, 2023 3 Unaudited Consolidated Statement of Operations for Three Months Ended January 31, 2024 and 2023 4 Unaudited Consolidated Statement of Stockholder's Equity for Three Months Ended January 31, 2024 and 2023 5 Unaudited Consolidated Statement of Cash Flows for Three Months Ended January 31, 2024 and 2023 6 Notes to the Unaudited 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 13 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 15 Item 4.

Controls and Procedures

Controls and Procedures 15 PART II. OTHER INFORMATION 16 Item 1.

Legal Proceedings

Legal Proceedings 16 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 16 Item 3. Defaults Upon Senior Securities 16 Item 4. Mine safety disclosures 16 Item 5. Other Information 16 Item 6. Exhibits 16

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS GMTECH INC. & SUBSIDIARY CONSOLIDATED BALANCE SHEET As of January 31, 2024 (Unaudited) As of October 31, 2023 (Audited) Assets Current Assets Cash $ 5,951 $ 22,099 Rent deposits 2,168 2,168 Total Current Assets 8,119 24,267 Total Non-current Assets – – Total Assets $ 8,119 $ 24,267 Liabilities Current Liabilities Accounts payable $ 5,263 $ 4,594 Accrued liabilities – 3,000 Deferred revenue – 14,800 Total Current Liabilities 5,263 22,394 Total Liabilities 5,263 22,394 Shareholders' Equity Common stock, $ 0.0001 par value; 500,000,000 shares authorized; 5,000,000 shares issued and outstanding 500 500 Retained Earnings 2,356 1,373 Total Shareholders' Equity 2,856 1,873 Total Liabilities and Equity $ 8,119 $ 24,267 The accompanying notes are an integral part of these unaudited consolidated financial statements. 3 GMTECH INC. & SUBSIDIARY CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED) For Three Months Ended January 31, 2024 For Three Months Ended January 31, 2023 Revenue, net $ 22,800 $ – Cost of revenue 4,500 – Gross profit 18,300 – Operating Expenses General and administrative expenses 16,848 – Total operating expenses 16,848 – Income before income tax expenses 1,452 – Income tax expense 469 – Net income $ 983 $ – Other comprehensive income – – Comprehensive income $ 983 $ – Net income per share - Basic and diluted $ 0.00 $ 0.00 Weighted average number of ordinary shares 5,000,000 5,000,000 The accompanying notes are an integral part of these unaudited consolidated financial statements. 4 GMTECH INC. & SUBSIDIARY CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY FROM OCTOBER 31, 2022 TO OCTOBER 31, 2023 (AUDITED) & FOR THREE MONTHS ENDED JANUARY 31, 2024 (UNAUDITED) Common Stock Retained Total Shares Amount Earnings Equity Balance as of October 31, 2022 – $ – $ ( 1,000 )

MANAGEMENT'S

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION

FORWARD LOOKING STATEMENTS

FORWARD LOOKING STATEMENTS historical or current facts are "forward-looking statements" made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 (the "Act") and Section 21E of the Securities Exchange Act of 1934. These statements often can be identified by the use of terms such as "may," "will," "expect," "believe," "anticipate," "estimate," "approximate" or "continue," or the negative thereof. We intend that such forward-looking statements be subject to the safe harbors for such statements. We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management's best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events. EMPLOYEES AND EMPLOYMENT AGREEMENTS At present, we have no employees other than our officer and director. We presently do not have pension, health, annuity, insurance, stock options, profit sharing or similar benefit plans; however, we may adopt such plans in the future. There are presently no personal benefits available to any officers, directors or employees. Results of Operation Our financial statements have been prepared assuming that we will continue as a going concern and, accordingly, do not include adjustments relating to the recoverability and realization of assets and classification of liabilities that might be necessary should we be unable to continue in operation. We e

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