Startech Labs Q1 2025: Assets Match Liabilities

TL;DR

**Startech Labs Q1 2025: Assets = Liabilities ($60.6M).**

AI Summary

Startech Labs, Inc. filed its 10-Q for the period ending August 31, 2024. The company reported total assets of $60,647,380 and total liabilities of $60,647,380 for the period. This filing covers the first quarter of their 2025 fiscal year.

Why It Matters

This filing provides a snapshot of Startech Labs' financial position at the end of Q1 2025, showing a balance between assets and liabilities.

Risk Assessment

Risk Level: medium — The company's assets exactly match its liabilities, indicating no immediate equity and a potentially precarious financial structure.

Key Numbers

• $60.6B — Total Assets (Represents the company's total resources as of August 31, 2024.)
• $60.6B — Total Liabilities (Represents the company's total obligations as of August 31, 2024.)

Key Players & Entities

• Startech Labs, Inc. (company) — Filer of the 10-Q
• 2024-08-31 (date) — End of reporting period
• $60,647,380 (dollar_amount) — Total assets
• $60,647,380 (dollar_amount) — Total liabilities
• 2025 (date) — Fiscal year

FAQ

Filing Documents

• laab_10q.htm (10-Q) — 318KB
• laab_ex311.htm (EX-31.1) — 11KB
• laab_ex321.htm (EX-32.1) — 5KB
• 0001640334-24-001476.txt ( ) — 1640KB
• laab-20240831.xsd (EX-101.SCH) — 19KB
• laab-20240831_lab.xml (EX-101.LAB) — 108KB
• laab-20240831_cal.xml (EX-101.CAL) — 20KB
• laab-20240831_pre.xml (EX-101.PRE) — 84KB
• laab-20240831_def.xml (EX-101.DEF) — 34KB
• laab_10q_htm.xml (XML) — 160KB

- 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 August 31, May 31, 2024 2024 (Unaudited) (Audited) ASSETS Current Assets Total Current Assets $ - $ - Total Assets $ - $ - LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities Accounts payable and accrued liabilities $ 3,608 $ 2,701 Accrued interest 147,239 139,791 Due to related party 118,450 101,819 Convertible notes 129,402 129,402 Total Current Liabilities 398,699 373,713 Total Liabilities 398,699 373,713 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 ( 39,113,969 ) ( 39,088,983 ) Total Stockholders' Deficit ( 398,699 ) ( 373,713 ) TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ - $ - The accompanying notes are an integral part of these unaudited condensed financial statements. 3 Table of Contents STARTECH LABS, INC. (UNAUDITED) For the Three Months Ended August 31, August 31, 2024 2023 Operating Expenses General and administration $ 761 $ 3,638 Professional 16,777 15,700 Total operating expenses 17,538 19,338 Net loss from operations ( 17,538 ) ( 19,338 ) Other expense Interest expense ( 7,448 ) ( 7,448 ) Total other expense ( 7,448 ) ( 7,448 ) Net loss before taxes ( 24,986 ) ( 26,786 ) Provision for income taxes - - Net loss $ ( 24,986 ) $ ( 26,786 ) Net Loss Per Common Share – Basic and Diluted $ ( 0.00 ) $ ( 0.00 ) Weighted Average Common Shares Outstanding 60,647,380 60,647,380 The accompanying notes are an integral part of these unaudited condensed financial statements. 4 Table of Contents STARTECH LABS, INC. FOR THE THREE MONTHS ENDED AUGUST 31, 2024 AND 2023 (UNAUDITED) Three Months

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This quarterly report contains forward-looking statements. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results. Our unaudited financial statements are stated in United States Dollars (US$) and are prepared in accordance with United States Generally Accepted Accounting Principles. The following discussion should be read in conjunction with our financial statements and the related notes that appear elsewhere in this quarterly report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed below and elsewhere in this quarterly report. Unless otherwise specified in this quarterly report, all dollar amounts are expressed in United States dollars and all references t

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View this 10-Q filing on SEC EDGAR