Startech Labs, Inc. Files 10-Q for Period Ending November 30, 2023

TL;DR

<b>Startech Labs, Inc. filed its Q2 2024 10-Q report, detailing operations through November 30, 2023.</b>

AI Summary

Startech Labs, Inc. (GTIC) filed a Quarterly Report (10-Q) with the SEC on January 12, 2024. Startech Labs, Inc. filed a 10-Q report for the period ending November 30, 2023. The company's fiscal year ends on May 31st. The filing covers the second quarter of fiscal year 2024. The business address is 244 Madison Avenue, New York, NY 10016-2817. The company's former name was UpperSolution.com, with a name change on August 14, 2013.

Why It Matters

For investors and stakeholders tracking Startech Labs, Inc., this filing contains several important signals. This filing provides investors with an update on Startech Labs' financial performance and operational status for the second quarter of fiscal year 2024. Understanding the details within this 10-Q is crucial for assessing the company's current financial health and future prospects.

Risk Assessment

Risk Level: low — Startech Labs, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant financial disclosures or events that would indicate high risk.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to understand Startech Labs' performance and outlook.

Key Numbers

• 2023-11-30 — Reporting Period End Date (Conformed period of report)
• 2024-01-12 — Filing Date (Filed as of date)
• 0531 — Fiscal Year End (Fiscal year end)
• 75000000 — Authorized Shares (Authorized shares value)
• 60647380 — Outstanding Shares (Outstanding shares value)

Key Players & Entities

• Startech Labs, Inc. (company) — Filer name
• 244 Madison Avenue (address) — Business address
• New York (location) — Business address city
• 10016-2817 (zip_code) — Business address zip
• UpperSolution.com (company) — Former company name
• 2013-08-14 (date) — Date of name change

Forward-Looking Statements

• Startech Labs, Inc. will likely issue additional shares, further diluting existing shareholders. (Startech Labs, Inc.) — medium confidence, target: within 12 months

FAQ

Industry Context

Startech Labs, Inc. operates in the prepackaged software industry, as indicated by its SIC code 7372.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring regular disclosures from public companies.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow.
2. Review the Management's Discussion and Analysis (MD&A) section for insights into business performance.
3. Check for any new risk factors or updates to existing ones.

Key Dates

• 2023-11-30: Period End Date — End of the reporting period for the 10-Q filing.
• 2024-01-12: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing available in the provided data for Startech Labs, Inc. for the period ending November 30, 2023.

Filing Documents

• laab_10q.htm (10-Q) — 384KB
• laab_ex311.htm (EX-31.1) — 11KB
• laab_ex321.htm (EX-32.1) — 5KB
• 0001640334-24-000046.txt (&nbsp;) — 1793KB
• laab-20231130.xsd (EX-101.SCH) — 21KB
• laab-20231130_lab.xml (EX-101.LAB) — 114KB
• laab-20231130_cal.xml (EX-101.CAL) — 21KB
• laab-20231130_pre.xml (EX-101.PRE) — 92KB
• laab-20231130_def.xml (EX-101.DEF) — 42KB
• laab_10q_htm.xml (XML) — 188KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 3 Item 2. Management s Discussion and Analysis of Financial Condition and Results of Operations 12 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

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 16 Item 1A.

Risk Factors

Risk Factors 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 17

SIGNATURES

SIGNATURES 18 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements STARTECH LABS, INC. BALANCE SHEETS (UNAUDITED) November 30, May 31, 2023 2023 ASSETS Current Assets Total Current Assets $ - $ - Intangible Assets 400 400 Total Assets $ 400 $ 400 LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities Accounts payable and accrued liabilities $ 6,697 $ 3,743 Accrued interest 124,975 110,159 Due to related party 88,325 65,708 Convertible notes 129,402 129,402 Total Current Liabilities 349,399 309,012 Total Liabilities 349,399 309,012 STOCKHOLDERS' DEFICIT Common Stock: $ 0.001 par value, 75,000,000 shares authorized, 60,647,380 shares issued and outstanding 60,647 60,647 Additional paid-in capital 38,654,623 38,654,623 Accumulated deficit ( 39,064,269 ) ( 39,023,882 ) Total Stockholders' Deficit ( 348,999 ) ( 308,612 ) TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 400 $ 400 The accompanying notes are an integral part of these condensed unaudited financial statements. 3 Table of Contents STARTECH LABS, INC. (UNAUDITED) For the Three Months Ended For the Six Months Ended November 30, November 30, November 30, November 30, 2023 2022 2023 2022 Operating Expenses General and administration $ 933 $ 450 $ 4,571 $ 900 Professional 5,300 4,250 21,000 19,950 Total operating expenses 6,233 4,700 25,571 20,850 Net loss from operations ( 6,233 ) ( 4,700 ) ( 25,571 ) ( 20,850 ) Other expense Interest expense ( 7,368 ) ( 7,368 ) ( 14,816 ) ( 14,816 ) Total other expense ( 7,368 ) ( 7,368 ) ( 14,816 ) ( 14,816 ) Net loss before taxes ( 13,601 ) ( 12,068 ) ( 40,387 ) ( 35,666 ) Provision for income taxes - - - - Net loss $ ( 13,601 ) $ ( 12,068 ) $ ( 40,387 ) $ ( 35,666 ) Net Loss Per Common Share – Basic and Diluted $ ( 0.00 ) $ ( 0.00 ) $ ( 0.00 ) $ ( 0.00 ) Weighted Averag

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View this 10-Q filing on SEC EDGAR