IMA Tech Inc. Files Quarterly Report (10-Q) for Period Ending January 31, 2024

TL;DR

<b>IMA Tech Inc. has filed its quarterly report (10-Q) for the period ending January 31, 2024.</b>

AI Summary

IMA Tech Inc. (IMAA) filed a Quarterly Report (10-Q) with the SEC on March 18, 2024. IMA Tech Inc. filed a 10-Q report for the quarterly period ended January 31, 2024. The company is incorporated in Wyoming and its fiscal year ends on April 30. The filing is for the period ending January 31, 2024, and was filed on March 18, 2024. IMA Tech Inc. is registered under the Securities Exchange Act of 1934. The company's primary SIC code is 7372 (Services-Prepackaged Software).

Why It Matters

For investors and stakeholders tracking IMA Tech Inc., this filing contains several important signals. This filing provides investors with an update on the company's financial performance and operational status for the most recent quarter. As a publicly traded company, IMA Tech Inc. is required to submit regular filings like this 10-Q to ensure transparency and compliance with SEC regulations.

Risk Assessment

Risk Level: low — IMA Tech Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate indicators of significant financial distress or major operational changes, suggesting a low level of immediate risk based solely on this document.

Analyst Insight

Review the full 10-Q filing for detailed financial statements, management discussion, and risk factors to assess IMA Tech Inc.'s current financial health and future prospects.

Key Numbers

• January 31, 2024 — Quarterly Period End Date (Reported for the quarterly period ended January 31, 2024)
• March 18, 2024 — Filing Date (Date the 10-Q report was filed)
• April 30 — Fiscal Year End (Company's fiscal year end date)
• 7372 — SIC Code (Primary Standard Industrial Classification Number)

Key Players & Entities

• IMA Tech Inc. (company) — Filer name and exact name of registrant
• Wyoming (location) — State of incorporation or organization
• 61-2081994 (organization_id) — IRS Employer Identification Number
• 7372 (industry_code) — Primary Standard Industrial Classification Number
• Liliia Havrykh (person) — Contact person for registrant
• 34 N Franklin Ave 687 (address) — Address of registrant's principal executive offices
• 82941 (zip_code) — Zip code of registrant's principal executive offices
• 333-273283 (filing_id) — Commission file number

FAQ

Industry Context

IMA Tech Inc. operates in the Services-Prepackaged Software industry (SIC 7372). This sector involves companies that develop, market, and distribute software products.

Regulatory Implications

The company is subject to the reporting requirements of the Securities Exchange Act of 1934, necessitating regular filings such as this 10-Q to ensure transparency for investors.

What Investors Should Do

1. Analyze the detailed financial statements within the 10-Q for revenue, expenses, and profitability trends.
2. Review the Management's Discussion and Analysis (MD&A) section for insights into the company's performance drivers and outlook.
3. Examine any disclosed risk factors or legal proceedings to understand potential challenges facing IMA Tech Inc.

Key Dates

• 2024-01-31: Quarterly Period End — End date for the financial reporting period covered by the 10-Q.
• 2024-03-18: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the period ending January 31, 2024, as indicated by the filing date and period covered. No prior period data is available for comparison within this specific filing extract.

Key Financial Figures

• $16,234 — accumulated deficit since inception of $16,234 as of January 31, 2024. Additionally, f
• $8,032 — ct to recognize amortization expense of $8,032 for the remainder of the fiscal year en
• $128,512 — the fiscal year ending April 30, 2024, $128,512 for the fiscal years ending April 30, 2
• $26,672 — ending April 30, 2025 through 2028, and $26,672 for the fiscal year ending April 30, 20
• $0.001 — 4,000,000 shares of its Common Stock at $0.001 per share for total proceeds of $4,000.
• $4,000 — $0.001 per share for total proceeds of $4,000. As of January 31, 2024, the Company ha
• $28,050 — nced $ 104,595 to the Company, of which $28,050 and $92,564 was advanced during the thr
• $92,564 — 95 to the Company, of which $28,050 and $92,564 was advanced during the three and nine
• $140,000 — tively. This loan is for advances up to $140,000 and is for working capital purposes, is
• $0.03 — stock for cash proceeds of $ 3,450 at $0.03 per share. 12 Item 2. Management's D
• $10,800 — 31, 2024 we generated total revenue of $10,800. For the nine months ended January 31,
• $8,459 — hree months ended January 31, 2024 were $8,459. The operating expenses for three month
• $1 — , 2023 included bank service charges of $1, amortization expense of $5,449, and pr
• $5,449 — charges of $1, amortization expense of $5,449, and professional fees of $3,009. Tota
• $3,009 — nse of $5,449, and professional fees of $3,009. Total operating expenses for nine mon

Filing Documents

• ima10q_jan312024.htm (10-Q) — 252KB
• cert31.htm (EX-31.1) — 11KB
• cer32.htm (EX-32.1) — 6KB
• 0001980295-24-000006.txt (&nbsp;) — 1282KB
• none-20240131.xsd (EX-101.SCH) — 11KB
• none-20240131_lab.xml (EX-101.LAB) — 100KB
• none-20240131_pre.xml (EX-101.PRE) — 72KB
• none-20240131_cal.xml (EX-101.CAL) — 14KB
• none-20240131_def.xml (EX-101.DEF) — 12KB
• ima10q_jan312024_htm.xml (XML) — 85KB

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 15 Item 4.

Controls and Procedures

Controls and Procedures 15 PART II OTHER INFORMATION: Item 1.

Legal Proceedings

Legal Proceedings 15 Item 1A

Risk Factors

Risk Factors 15 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 15 Item 3. Defaults Upon Senior Securities 16 Item 4. Submission of Matters to a Vote of Securities Holders 16 Item 5. Other Information 16 Item 6. Exhibits 16

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements The accompanying interim financial statements of IMA Tech Inc. ("the Company", "we", "us" or "our"), have been prepared without audit pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with United States generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. The interim financial statements are condensed and should be read in conjunction with the Company's latest annual financial statements. In the opinion of management, the financial statements contain all material adjustments, consisting only of normal recurring adjustments, considered necessary to present fairly the financial condition, results of operations, and cash flows of the Company for the interim periods presented. 4 IMA Tech Inc. Condensed Balance Sheets As of January 31, 2024 As of April 30, 2023 (Unaudited) ASSETS Current Assets Cash $ 11,383 $ 16,000 Total Current Assets 11,383 16,000 Other Assets Intangible Assets, net 153,216 13,400 Total Other Assets 153,216 13,400 TOTAL ASSETS $ 164,599 $ 29,400 LIABILITIES AND STOCKHOLDERS` EQUITY (DEFICIT) Liabilities Current Liabilities Accounts Payable $ 72,238 $ 13,400 Loan from Related Parties 104,595 12,031 Total Current Liabilities 176,833 25,431 Total Liabilities 176,833 25,431 Stockholders` Equity (Deficit) Common stock, $ 0.001 par value, 4,000,000 shares authorized; 4,000,000 shares issued and outstanding as of April 30, 2023, and January 31, 2024 4,000 4,000 Accumulated Deficit ( 16,234 ) ( 31 ) Total Stockholders` Equity (Deficit) ( 12,234 ) 3,969 TOTAL LIABILITIES AND STOCKHOLDERS` EQUITY (DEFICIT) $ 164,599 $ 29,400 See accompanying notes, which are an integral part of these condensed financial statements 5

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

Management's Discussion and Analysis of Financial Condition and Results of Operations Forward Looking Statement Notice or current facts are "forward-looking statements" made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 (the "Act") and Section 21E of the Securities Exchange Act of 1934. These statements often can be identified using terms such as "may," "will," "expect," "believe," "anticipate," "estimate," "approximate" or "continue," or the negative thereof. We intend that such forward-looking statements be subject to the safe harbors for such statements. We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management's best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and crucial factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events. Financial information contained in this quarterly report and in our unaudited interim financial statements is stated in United States dollars and are prepared in accordance with United Business Overview Our company's business model centers on developing and operating a website featuring digital avatars. We are actively progressing with the development of this website, aiming for its completion by December 2023, which will serve as the primary platform for our digital avatars. Users will have access to a wide array of customizable avatars through individual accou

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Overview The following discussion of our financial condition and results of operations should be read in conjunction with (i) our audited financial statement as of April 30, 2023. Results of Operations for the three and nine months ended January 31, 2024 respectively: Revenue For the three months ended January 31, 2024 we generated total revenue of $10,800. For the nine months ended January 31, 2024 we generated total revenue of $10,800. Operating expenses Total operating expenses for three months ended January 31, 2024 were $8,459. The operating expenses for three months ended January 31, 2023 included bank service charges of $1, amortization expense of $5,449, and professional fees of $3,009. Total operating expenses for nine months ended January 31, 2024 were $27,003. The operating expenses for nine months ended January 31, 2024 included bank service charges of $48; amortization expense of $7,391, and professional fees of $19,564. Net Loss Our net income for three months ended January 31, 2024 was $2,341. Our net loss for nine months ended January 31, 2024 was $16,203. Liquidity and Capital Resources As of January 31,2024 the Company had cash of $11,383 ($16,000 as of April 2023) and had a negative working capital of $165,450 as of January 31, 2024. Net cash used in operating activities for the nine months ended January 31, 2024, was $50,057. Net cash used in investing activities for the nine months ended January 31, 2024, was $147,238. Net cash provided by financing activities for the nine months ended January 31, 2024, was $92,564. 14 Strategy Our business strategy is centered around utilizing AI avatars to simplify customer requests, reduce costs, and save time for implementation. By deploying digital avatars that serve customers remotely, we aim to improve efficiency and deliver personalized content. Through the effective use of AI technologies

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk None 15 Item 4.

Controls and Procedures

Controls and Procedures Evaluation of Disclosure Controls and Procedures Our management is responsible for establishing and maintaining a system of disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act) that is designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission's rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer's

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