GMTech Inc. Files Q3 10-Q

TL;DR

GMTech Inc. 10-Q filed, check Q3 financials ending July 31, 2024.

AI Summary

GMTech Inc. filed its 10-Q for the period ending July 31, 2024. The company, incorporated in Wyoming, operates in computer programming services and is headquartered at 45 Rockefeller Plaza, New York, NY. The filing covers financial information for the third quarter of their fiscal year, which ends on October 31st.

Why It Matters

This filing provides investors with an update on GMTech Inc.'s financial performance and position as of July 31, 2024, crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: low — This is a standard quarterly filing with no immediate red flags or significant new information presented in the provided snippet.

Key Players & Entities

• GMTech Inc. (company) — Filer
• 7371 (dollar_amount) — Standard Industrial Classification Code for Services-Computer Programming Services
• 45 Rockefeller Plaza, 21F (location) — Business and Mail Address
• New York (location) — City
• 10111 (location) — Zip Code
• (646) 508-0022 (phone_number) — Business Phone
• 20240731 (date) — Conformed Period of Report
• 20240916 (date) — Filed as of Date
• 1031 (date) — Fiscal Year End

FAQ

Key Financial Figures

• $0.0001 — s of September 16, 2024 Common Stock: $0.0001 12,000,000 TABLE OF CONTENTS PART
• $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-073124.htm (10-Q) — 320KB
• gmtech_ex3101.htm (EX-31.1) — 8KB
• gmtech_ex3102.htm (EX-31.2) — 8KB
• gmtech_ex32.htm (EX-32) — 4KB
• 0001683168-24-006420.txt ( ) — 2174KB
• gmth-20240731.xsd (EX-101.SCH) — 17KB
• gmth-20240731_cal.xml (EX-101.CAL) — 24KB
• gmth-20240731_def.xml (EX-101.DEF) — 51KB
• gmth-20240731_lab.xml (EX-101.LAB) — 181KB
• gmth-20240731_pre.xml (EX-101.PRE) — 148KB
• gmtech_i10q-073124_htm.xml (XML) — 191KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Consolidated Balance Sheets as of July 31, 2024 (Unaudited) and October 31, 2023 3 Consolidated Statements of Operations for Three and Nine Months Ended July 31, 2024 and 2023 (Unaudited) 4 Consolidated Statements of Stockholders' Equity for Three and Nine Months Ended July 31, 2024 and 2023 (Unaudited) 5 Consolidated Statements of Cash Flows for Nine Months Ended July 31, 2024 and 2023(Unaudited) 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 14 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 16 Item 4.

Controls and Procedures

Controls and Procedures 16 PART II. OTHER INFORMATION 17 Item 1.

Legal Proceedings

Legal Proceedings 17 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 17 Item 3. Defaults Upon Senior Securities 17 Item 4. Mine safety disclosures 17 Item 5. Other Information 17 Item 6. Exhibits 17

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements GMTECH INC. & SUBSIDIARY CONSOLIDATED BALANCE SHEETS As of July 31, 2024 (Unaudited) As of October 31, 2023 (Audited) Assets Current Assets Cash $ 109,329 $ 22,099 Other receivable 2,500 – Rent deposits 2,168 2,168 Total Current Assets 113,997 24,267 Total Assets $ 113,997 $ 24,267 Liabilities Current Liabilities Accounts payable $ 301 $ 4,594 Accrued liabilities – 3,000 Deferred revenue – 14,800 Total Current Liabilities 301 22,394 Total Liabilities 301 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 July 31, 2024 and October 31, 2023, respectively 1,200 500 Additional paid-in capital 139,300 – Retained earnings (accumulated deficit) ( 26,804 ) 1,373 Total Stockholders' Equity 113,696 1,873 Total Liabilities and Stockholders' Equity $ 113,997 $ 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 July 31, 2024 For Three Months Ended July 31, 2023 For Nine Months Ended July 31, 2024 For Nine Months Ended July 31, 2023 Revenue $ 12,000 $ 32,500 $ 46,800 $ 82,500 Cost of revenue – – 9,500 20,000 Gross profit 12,000 32,500 37,300 62,500 Operating Expenses Advertising and marketing – – – 18,000 General and administrative expenses 18,048 10,004 65,477 23,506 Total operating expenses 18,048 10,004 65,477 41,506 Income/(loss) before income tax expenses ( 6,048 ) 22,496 ( 28,177 ) 20,994 Net income/(loss) $ ( 6,048 ) $ 22,496 $ ( 28,177 ) $ 20,994 Net income per share-Basic and diluted $ 0.00 $ 0.00 $ 0.00 $ 0.00 Weighted average number of ordinary shares 12,000,000 5,000,000 8,111,111 5,000,000 The accompanying notes are an

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View this 10-Q filing on SEC EDGAR