GPO Plus, Inc. Files 10-Q for Period Ending January 31, 2024

TL;DR

<b>GPO Plus, Inc. filed its 10-Q for the period ending January 31, 2024, detailing financial results and subsequent events.</b>

AI Summary

GPO Plus, Inc. (GPOX) filed a Quarterly Report (10-Q) with the SEC on March 22, 2024. GPO Plus, Inc. reported financial results for the period ending January 31, 2024. The company's fiscal year ends on April 30. The filing includes details on subsequent events related to Series C Preferred Stock and promissory notes. Lease obligations, both current and non-current, are detailed for the periods ending April 30, 2023, and January 31, 2024. Information on loans and inducements, as well as stock payable on promissory notes, is provided.

Why It Matters

For investors and stakeholders tracking GPO Plus, Inc., this filing contains several important signals. This 10-Q filing provides investors with an update on GPO Plus, Inc.'s financial performance and significant events that occurred after the previous reporting period. The detailed breakdown of lease obligations and subsequent events offers insight into the company's financial structure and potential future liabilities or capital changes.

Risk Assessment

Risk Level: medium — GPO Plus, Inc. shows moderate risk based on this filing. The company has a history of name changes and operates in the 'Services-Services, NEC' industry, suggesting potential volatility and a need for careful financial scrutiny.

Analyst Insight

Investors should closely examine the details of the subsequent events, particularly those related to Series C Preferred Stock and promissory notes, to understand their impact on the company's capital structure and future obligations.

Key Numbers

• 2024-01-31 — Conformed Period of Report (10-Q Filing)
• 2024-03-22 — Filed as of Date (10-Q Filing)
• 0430 — Fiscal Year End (Company Data)
• 2018-04-06 — Date of Name Change (Former Company)
• 2016-04-29 — Date of Name Change (Former Company)
• 2024-02-29 — Subsequent Event Date (Series C Preferred Stock)
• 2024-02-15 — Subsequent Event Date (Promissory Note Holder One)
• 2024-02-16 — Subsequent Event Date (Promissory Note Holder)

Key Players & Entities

• GPO Plus, Inc. (company) — Filer
• GLOBAL HOUSE HOLDINGS LTD. (company) — Former company name
• KOLDECK INC. (company) — Former company name
• NV (location) — State of incorporation
• 855-935-4769 (phone_number) — Business phone
• us-gaap:SeriesCPreferredStockMember (security) — Subsequent Event
• gpox:PromissoryNoteHolderOneMember (entity) — Subsequent Event
• gpox:PromissoryNoteHolderMember (entity) — Subsequent Event

FAQ

Risk Factors

• Subsequent Events [medium — financial]: The company details several subsequent events, including transactions related to Series C Preferred Stock and promissory notes, which could impact its financial position.
• Lease Obligations [medium — financial]: The filing provides a breakdown of current and non-current lease obligations, indicating financial commitments related to leased assets.

Key Dates

• 2024-01-31: Period End Date — The reporting period for the 10-Q filing.

Filing Documents

• gpox_10q.htm (10-Q) — 1423KB
• gpox_ex311.htm (EX-31.1) — 12KB
• gpox_ex321.htm (EX-32.1) — 5KB
• 0001640334-24-000453.txt (&nbsp;) — 7038KB
• gpox-20240131.xsd (EX-101.SCH) — 84KB
• gpox-20240131_lab.xml (EX-101.LAB) — 415KB
• gpox-20240131_cal.xml (EX-101.CAL) — 50KB
• gpox-20240131_pre.xml (EX-101.PRE) — 367KB
• gpox-20240131_def.xml (EX-101.DEF) — 264KB
• gpox_10q_htm.xml (XML) — 1187KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1. Unaudited Condensed Financial Statements 3 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 4 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 8 Item 4.

Controls and Procedures

Controls and Procedures 9

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 10 Item 1A.

Risk Factors

Risk Factors 10 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 10 Item 3. Defaults Upon Senior Securities 10 Item 4. Mine Safety Disclosures 10 Item 5. Other Information 10 Item 6. Exhibits 11

SIGNATURES

SIGNATURES 12 2 Table of Contents CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Except for historical information, this report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Such forward-looking statements include, among others, those statements including the words "believes", "anticipates", "expects", "intends", "estimates", "plans" and words of similar import. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are based on our current expectations and assumptions regarding our business, potential target businesses, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. We caution you therefore that you should not rely on any of these forward-looking statements as statements of historical fact or as guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements include changes in local, regional, national or global political, economic, business, competitive, market (supply and demand) and regulatory conditions. A description of these and other risks and uncertainties that could affect our business appears in the section captioned "Risk Factors" in our Annual Report on Form 10-K which we filed with the Securities and

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States and the rules of the SEC and should be read in conjunction with the audited consolidated financial statements and notes thereto contained in our Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the periods presented have been reflected herein. The results of operations for the periods presented are not necessarily indicative of the results to be expected for the full year. 3 Table of Contents GPO PLUS, INC. CONDENSED FINANCIAL STATEMENTS January 31, 2024 (UNAUDITED) INDEX TO CONDENSED FINANCIAL STATEMENTS Condensed Balance Sheets on January 31, 2024 (Unaudited) and April 30, 2023 F-2 Condensed Statements of Operations for the three and nine months ended January 31, 2024 and 2023 (Unaudited) F-3 Condensed Statements of Changes in Shareholders' Equity for the three and nine months ended January 31, 2024 and 2023(Unaudited) F-5 Condensed Statements of Cash Flows for the nine months ended January 31, 2024 and 2023 (Unaudited) F-5 Notes to Condensed Financial Statements (Unaudited) F-6 F-1 Table of Contents GPO PLUS, INC. CONDENSED BALANCE SHEETS January 31, April 30, 2024 2023 (Unaudited) ASSETS Current Assets: Cash $ 406,662 $ 55,496 Accounts receivable 32,470 43,614 Prepaid expenses 8,844 69,351 Inventory 419,500 156,997 Total Current Assets 867,476 325,458 Finance lease right-of-use assets, net 221,109 129,367 Property and equipment, net 111,738 72,886 Intangible assets, net 40,902 62,290 TOTAL ASSETS $ 1,241,225 $ 590,001 LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities: Accounts payable and accrued liabilities 1,399,842

View Full Filing

View this 10-Q filing on SEC EDGAR