GMTech Inc. Files Q2 10-Q

TL;DR

GMTech Inc. filed its 10-Q for Q2 2024. Financials updated.

AI Summary

GMTech Inc. filed its 10-Q for the period ending April 30, 2024. The company, incorporated in Wyoming, operates in computer programming services. Its principal executive offices are located at 45 Rockefeller Plaza, New York, NY.

Why It Matters

This filing provides investors with an update on GMTech Inc.'s financial performance and operational status for the second quarter of fiscal year 2024.

Risk Assessment

Risk Level: low — The filing is a standard quarterly report and does not indicate any immediate or significant risks.

Key Numbers

• 20240430 — Report End Date (Period covered by the 10-Q filing)
• 20240613 — Filing Date (Date the 10-Q was submitted to the SEC)

Key Players & Entities

• GMTech Inc. (company) — Filer
• 0002000762 (company) — Central Index Key
• 45 ROCKEFELLER PLAZA, 21F (location) — Business Address
• NEW YORK (location) — Business Address City
• 10111 (location) — Business Address Zip

FAQ

Key Financial Figures

• $0.0001 — ing as of June 13, 2024 Common Stock: $0.0001 12,000,000 TABLE OF CONTENTS PART
• $4,000 — mpany's accounts receivable balance was $4,000. The adoption of ASU 2016-13 did not ha
• $0.02 — 7,000,000 shares of its common stock at $0.02 per share for total proceeds of $ 140,0

Filing Documents

• gmtech_i10q-043024.htm (10-Q) — 277KB
• gmtech_ex3101.htm (EX-31.1) — 8KB
• gmtech_ex3102.htm (EX-31.2) — 8KB
• gmtech_ex3200.htm (EX-32) — 4KB
• 0001683168-24-004159.txt ( ) — 1964KB
• none-20240430.xsd (EX-101.SCH) — 15KB
• none-20240430_cal.xml (EX-101.CAL) — 22KB
• none-20240430_def.xml (EX-101.DEF) — 52KB
• none-20240430_lab.xml (EX-101.LAB) — 174KB
• none-20240430_pre.xml (EX-101.PRE) — 141KB
• gmtech_i10q-043024_htm.xml (XML) — 151KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Consolidated Balance Sheets as of April 30, 2024 (Unaudited) and October 31, 2023 3 Unaudited Consolidated Statements of Operations for Three and Six Months Ended April 30, 2024 and 2023 4 Consolidated Statements of Stockholders' Equity for Three and Six Months Ended April 30, 2024 (Unaudited) and for the Year Ended October 31, 2023 5 Unaudited Consolidated Statements of Cash Flows for Six Months Ended April 30, 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 14 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 SHEETS As of April 30, 2024 (Unaudited) As of October 31, 2023 (Audited) Assets Current Assets Cash $ 124,378 $ 22,099 Accounts receivable 4,000 – Rent deposits 2,168 2,168 Total Current Assets 130,546 24,267 Total Assets $ 130,546 $ 24,267 Liabilities Current Liabilities Accounts payable $ 8,802 $ 4,594 Related party payable 2,000 – Accrued liabilities – 3,000 Deferred revenue – 14,800 Total Current Liabilities 10,802 22,394 Total Liabilities 10,802 22,394 Stockholders' Equity Common stock, $ 0.0001 par value; 500,000,000 shares authorized; 12,000,000 shares and 5,000,000 shares issued and outstanding as of April 30, 2024 and October 31, 2023, respectively 1,200 500 Additional paid-in capital 139,300 – Accumulated deficit ( 20,756 ) 1,373 Total Stockholders' Equity 119,744 1,873 Total Liabilities and Stockholders' Equity $ 130,546 $ 24,267 The accompanying notes are an integral part of these unaudited consolidated financial statements. 3 GMTECH INC. & SUBSIDIARY CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) For Three Months Ended April 30, 2024 For Three Months Ended April 30, 2023 For Six Months Ended April 30, 2024 For Six Months Ended April 30, 2023 Revenue $ 12,000 $ 50,000 $ 34,800 $ 50,000 Cost of revenue 5,000 20,000 9,500 20,000 Gross profit 7,000 30,000 25,300 30,000 Operating Expenses Advertising and marketing – 18,000 – 18,000 General and administrative expenses 30,112 13,502 47,429 13,502 Total operating expenses 30,112 31,502 47,429 31,502 Loss before income tax expenses ( 23,112 ) ( 1,502 ) ( 22,129 ) ( 1,502 ) Net loss $ ( 23,112 ) $ ( 1,502 ) $ ( 22,129 ) $ ( 1,502 ) Net income per share-Basic and diluted $ 0.00 $ 0.00 $ 0.00 $ 0.00 Weighted average number of ordinary shares

MANAGEMENT'S DISCUSSION AND ANALYSIS

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

FORWARD LOOKING STATEMENTS

FORWARD LOOKING STATEMENTS

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