IMA Tech Files 10-Q for Period Ending Oct 31, 2024

TL;DR

IMA Tech 10-Q filed. Financials for Oct 31, 2024 period out.

AI Summary

IMA Tech filed its 10-Q for the period ending October 31, 2024. The company, previously known as IMA Tech Inc., is incorporated in Wyoming and operates in the prepackaged software sector. Its principal business address is located at 34 N Franklin Ave, Pinedale, WY.

Why It Matters

This filing provides investors with an update on IMA Tech's financial performance and operational status for the specified quarter.

Risk Assessment

Risk Level: low — This is a routine quarterly filing with no immediate red flags or significant new information presented in the provided snippet.

Key Players & Entities

• IMA Tech (company) — Filer and company name
• IMA Tech Inc. (company) — Former company name
• 20241031 (date) — Conformed period of report
• 20241212 (date) — Filed as of date
• 34 N Franklin Ave (address) — Business and mailing street address
• Pinedale, WY (location) — Business and mailing city and state
• 82941 (zip_code) — Business and mailing zip code

FAQ

Key Financial Figures

• $14,700 — ear future. IMA Tech has only generated $14,700 of revenue and incurred a net loss of $
• $57,842 — accumulated deficit since inception of $57,842 as of October 31, 2024 and further loss
• $28,463 — 4, we recorded amortization expenses of $28,463. We expect to recognize amortization ex
• $28,464 — ct to recognize amortization expense of $28,464 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
• $0 — , respectively. Accounts receivable was $0 as of October 31, 2024 and April 30, 20
• $2,000 — ended October 30, 2024 and 2023 totaled $2,000 and $0, respectively. Prepaid advertisi
• $3,000 — ctively. Prepaid advertising costs were $3,000 and $0 as of October 31, 2024 and April
• $0.001 — n shares authorized with a par value of $0.001 per share. During the six months ende
• $0.03 — es of common stock for cash proceeds at $0.03 per share for a total of $ 28,647 . Du
• $2,236 — nced $ 197,169 to the Company, of which $2,236 was advanced during the six months ende
• $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. Loan is for working capital purposes a

Filing Documents

• ima10q_31oct2024.htm (10-Q) — 312KB
• cert31.htm (EX-31.1) — 11KB
• cer32.htm (EX-32.1) — 6KB
• 0001980295-24-000021.txt ( ) — 1460KB
• none-20241031.xsd (EX-101.SCH) — 10KB
• none-20241031_cal.xml (EX-101.CAL) — 20KB
• none-20241031_def.xml (EX-101.DEF) — 13KB
• none-20241031_lab.xml (EX-101.LAB) — 110KB
• none-20241031_pre.xml (EX-101.PRE) — 76KB
• ima10q_31oct2024_htm.xml (XML) — 105KB

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 19 Item 4.

Controls and Procedures

Controls and Procedures 19 PART II OTHER INFORMATION: Item 1.

Legal Proceedings

Legal Proceedings 20 Item 1A

Risk Factors

Risk Factors 20 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 20 Item 3. Defaults Upon Senior Securities 20 Item 4. Submission of Matters to a Vote of Securities Holders 20 Item 5. Other Information 20 Item 6. Exhibits 20

– 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 October 31, 2024 As of April 30, 2024 (Unaudited) ASSETS Current Assets Cash $ 10,121 $ 7,732 Total Current Assets 10,121 7,732 Other Current Assets Prepaid Expenses 4,000 - Total Other Current Assets 4,000 - Other Assets Intangible Assets, net 240,721 269,184 Total Other Assets 240,721 269,184 TOTAL ASSETS $ 254,842 $ 276,916 LIABILITIES AND STOCKHOLDERS` EQUITY (DEFICIT) Liabilities Current Liabilities Accounts Payable $ 63,019 $ 96,500 Deferred Revenue 15,200 4,700 Loan from Related Parties 197,169 194,933 Total Current Liabilities 275,388 296,133 Total Liabilities 275,388 296,133 Stockholders` Equity (Deficit) Common stock, $ 0.001 par value, 75,000,000 shares authorized; 5,109,878 and 4,154,966 shares issued and outstanding as of October 31, 2024 and April 30, 2024, respectively 5,110 4,155 Additional Paid-in Capital 32,186 4,494 Accumulated Deficit ( 57,842 ) ( 27,866 ) Total Stockholders` Equity (Deficit

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 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 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 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 14 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 experie

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 our audited financial statement as of April 30, 2024. Results of Operations Three months ended October 31, 2024 compared to October 31, 2023 Revenue For the three months ended October 31, 2024 we generated total revenue of $10,000. For the three months ended October 31, 2023 we generated no revenue. Operating expenses Total operating expenses for three months ended October 31, 2024 were $22,856. The operating expenses included bank service charges ($25), amortization expense ($14,231), professional fees ($4,600), advertising & marketing ($2,000), and maintenance expense ($2,000). Total operating expenses for three months ended October 31, 2023 were $8,825. The operating expenses included bank service charges ($1), amortization expense ($1,303) and professional fees ($7,521). Net Loss Our Net Loss for three months ended October 31, 2024 was $12,856. Our Net Loss for three months ended October 31, 2023 was $8,825. Six months ended October 31, 2024 compared to October 31, 2023 Revenue For the six months ended October 31, 2024 we generated total revenue of $14,700. For the six months ended October 31, 2023 we generated no revenue. 16 Operating expenses Total operating expenses for six months ended October 31, 2024 were $44,676. The operating expenses included bank service charges ($29), amortization expense ($28,463), professional fees ($12,184), advertising & marketing ($2,000), and maintenance expense ($2,000). Total operating expenses for six months ended October 31, 2023 were $18,544. The operating expenses included bank service charges ($16), amortization expense ($1,973) and professional fees ($16,555). Net Loss Our Net Loss for six months ended October 31, 2024 was $29,976. Our Net Loss for six months ended October 31, 2023

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