IMA Tech Inc. Files Q1 2025 10-Q

TL;DR

IMA Tech Inc. filed its Q1 2025 10-Q, covering the period ending July 31, 2024.

AI Summary

IMA Tech Inc. filed its 10-Q for the period ending July 31, 2024. The filing covers the first quarter of fiscal year 2025, which began on May 1, 2024. The company's fiscal year ends on April 30th. IMA Tech Inc. is incorporated in Wyoming and operates in the prepackaged software services sector.

Why It Matters

This filing provides investors with an update on IMA Tech Inc.'s financial performance and position for the first quarter of its 2025 fiscal year.

Risk Assessment

Risk Level: low — This filing is a routine quarterly report and does not contain immediate, significant financial distress indicators.

Key Numbers

• 20240731 — End of Fiscal Quarter (The period covered by the 10-Q filing.)
• 20240916 — Filing Date (The date the 10-Q was submitted to the SEC.)
• 0430 — Fiscal Year End (IMA Tech Inc.'s annual fiscal year concludes on this date.)

Key Players & Entities

• IMA Tech Inc. (company) — Filer of the 10-Q
• 20240731 (date) — End of reporting period
• 20240916 (date) — Filing date
• Wyoming (location) — State of incorporation
• 7372 (number) — Standard Industrial Classification Code for Services-Prepackaged Software

FAQ

Key Financial Figures

• $4,700 — ear future. IMA Tech has only generated $4,700 revenue and incurred a net loss of $ 17
• $44,986 — accumulated deficit since inception of $44,986 as of July 31, 2024. Additionally, furt
• $14,232 — 4, we recorded amortization expenses of $14,232. We expect to recognize amortization ex
• $42,696 — ct to recognize amortization expense of $42,696 for the remainder of the fiscal year en
• $56,928 — the fiscal year ending April 30, 2025, $56,928 for each of the fiscal years ending Apr
• $41,474 — ending April 30, 2026 through 2028, and $41,474 for the fiscal year ending April 30, 20
• $4,500 — he Company reported deferred revenue of $4,500 and $0, respectively. Accounts receivab
• $0 — reported deferred revenue of $4,500 and $0, respectively. Accounts receivable was
• $0.03 — es of common stock for cash proceeds at $0.03 per share for a total of $1,067. As of
• $1,067 — ceeds at $0.03 per share for a total of $1,067. As of July 31, 2024, the Company had
• $2,000 — ced $ 196,933 to the Company, of which $2,000 was advanced during the three months en
• $90,000 — dated March 29, 2023 for advances up to $90,000. The loan agreement was amended on Dece
• $140,000 — 22,2023 to increase the loan amount to $140,000 and amended on April 1, 2024 to increas
• $200,000 — 1, 2024 to increase the loan amount to $200,000. This loan is for working capital purpo
• $21,820 — r three months ended July 31, 2024 were $21,820. The operating expenses included bank s

Filing Documents

• ima10q07312024.htm (10-Q) — 256KB
• cert31.htm (EX-31.1) — 11KB
• cer32.htm (EX-32.1) — 6KB
• 0001980295-24-000013.txt ( ) — 1336KB
• none-20240731.xsd (EX-101.SCH) — 11KB
• none-20240731_cal.xml (EX-101.CAL) — 20KB
• none-20240731_def.xml (EX-101.DEF) — 13KB
• none-20240731_lab.xml (EX-101.LAB) — 103KB
• none-20240731_pre.xml (EX-101.PRE) — 73KB
• ima10q07312024_htm.xml (XML) — 87KB

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 18 Item 4.

Controls and Procedures

Controls and Procedures 18 PART II OTHER INFORMATION: Item 1.

Legal Proceedings

Legal Proceedings 19 Item 1A

Risk Factors

Risk Factors 19 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 19 Item 3. Defaults Upon Senior Securities 19 Item 4. Submission of Matters to a Vote of Securities Holders 19 Item 5. Other Information 19 Item 6. Exhibits 19

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements The accompanying interim financial 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 financial condition, results of operations, and cash flows of the Company for the interim periods presented. 4 IMA Tech Condensed Balance Sheets As of July 31, 2024 As of April 30, 2024 (Unaudited) ASSETS Current Assets Cash $ 530 $ 7,732 Total Current Assets 530 7,732 Other Assets Intangible Assets, net 254,952 269,184 Total Other Assets 254,952 269,184 TOTAL ASSETS $ 255,482 $ 276,916 LIABILITIES AND STOCKHOLDERS` EQUITY (DEFICIT) Liabilities Current Liabilities Accounts Payable $ 89,319 $ 96,500 Deferred Revenue 4,500 4,700 Loan from Related Parties 196,933 194,933 Total Current Liabilities 290,752 296,133 Total Liabilities 290,752 296,133 Stockholders` Equity (Deficit) Common stock, $ 0.001 par value, 75,000,000 shares authorized; 4,190,509 and 4,154,966 shares issued and outstanding as of July 31, 2024 and April 30, 2024, respectively 4,191 4,155 Additional Paid-in Capital 5,525 4,494 Accumulated Deficit ( 44,986 ) ( 27,866 ) Total Stockholders` Equity (Deficit) ( 35,270 ) ( 19,217 ) TOTAL LIABILITIES AND STOCKHOLDERS` EQUITY (DEFICIT) $ 255,482 $ 276,916

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 are not historical 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 "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. The website offers a wide array of customizable avatars through individual accounts, enabling personalization and interaction through digital personas. Additionally, our website provides multilingual support for up to 40 languages, ensuring a seamless experience

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, 2024. Results of Operations for the three months ended July 31, 2024 and 2023 respectively: Revenue For the three months ended July 31, 2024 we generated total revenue of $4,700. For the three months ended July 31, 2023 we generated no revenue. Operating expenses Total operating expenses for three months ended July 31, 2024 were $21,820. The operating expenses included bank service charges ($4), amortization expense ($14,232), and professional fees ($7,584). Total operating expenses for three months ended July 31, 2023 were $9,719. The operating expenses included bank service charges ($16), amortization expense ($670) and professional fees ($9,033). Net Loss Our Net Loss for three months ended July 31, 2024 was $17,120. Our Net Loss for three months ended July 31, 2023 was $9,719. Liquidity and Capital Resources As of July 31, 2024 the Company had cash of $530 ($7,732 as of July 2023) and had a negative working capital of $290,222 as of July 31, 2024. Net cash used in operating activities for the three months ended July 31, 2024, was $10,269. Net cash used in investing activities for the three months ended July 31, 2024 was $0. Net cash used in financing activities for the three months ended July 31, 2024, was $3,067. 16 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 and leveraging our vast database, we will accurately target our audience's interests and stay at the forefront of innovation. This strategy will enhance

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk None 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 management, including its principal executive officer or officers and principal financial officer or

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