Kinetic Seas Files 10-K/A Amendment for FY2023

TL;DR

Kinetic Seas filed a 10-K/A for 2023, updating auditor report. Check for details.

AI Summary

Kinetic Seas Inc. filed an amendment (10-K/A) on September 26, 2024, to its annual report for the fiscal year ending December 31, 2023. This amendment primarily addresses changes to the auditor's report and other unspecified modifications. The company, formerly known as Bellatora, Inc. since September 6, 2022, is incorporated in Colorado and headquartered in Schaumburg, Illinois.

Why It Matters

This amendment indicates that the company is making adjustments to its previously filed annual report, potentially impacting investor understanding of its financial health and auditor's opinion.

Risk Assessment

Risk Level: medium — Amendments to 10-K filings, especially those involving auditor reports, can signal underlying issues or require clarification, warranting closer investor scrutiny.

Key Numbers

• 20231231 — Fiscal Year End (The period covered by the amended 10-K filing.)
• 20240926 — Filing Date (The date this 10-K/A amendment was submitted to the SEC.)

Key Players & Entities

• Kinetic Seas Inc. (company) — Filer of the 10-K/A
• Bellatora, Inc. (company) — Former name of Kinetic Seas Inc.
• 20231231 (date) — Fiscal year end for the report
• 20240926 (date) — Filing date of the amendment
• 60173 (location) — ZIP code for Schaumburg, IL business address

FAQ

Key Financial Figures

• $0.10 — iliates of the registrant, based on the $0.10 closing price of the registrant's commo
• $185 — r 31, 2023 has been enhanced to include $185 in accumulated depreciation Item 9. C
• $0.001 — of 21,600,000 shares of common stock at $0.001 per share to the New Directors and cert
• $0.05 — of 10,000,000 shares of common stock at $0.05 per share. An affiliate of a New Direct

Filing Documents

• kinetic_i10ka1-123123.htm (10-K/A) — 612KB
• kinetic_ex3101.htm (EX-31.1) — 7KB
• kinetic_ex3201.htm (EX-32.1) — 4KB
• 0001683168-24-006662.txt ( ) — 2220KB
• ecgr-20231231.xsd (EX-101.SCH) — 13KB
• ecgr-20231231_cal.xml (EX-101.CAL) — 21KB
• ecgr-20231231_def.xml (EX-101.DEF) — 38KB
• ecgr-20231231_lab.xml (EX-101.LAB) — 167KB
• ecgr-20231231_pre.xml (EX-101.PRE) — 134KB
• kinetic_i10ka1-123123_htm.xml (XML) — 119KB

Risk Factors

Risk Factors 8 Item 1B Unresolved Staff Comments 24 Item 1C Cybersecurity 25 Item 2

Properties

Properties 25 Item 3

Legal Proceedings

Legal Proceedings 25 Item 4 Mine Safety Disclosures 25 PART II Item 5 Market for Common Equity and Related Stockholder Matters 26 Item 6

Selected Financial Data

Selected Financial Data 27 Item 7

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 27 Item 7A

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 30 Item 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data F-1 Item 9 Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 31 Item 9A

Controls and Procedures

Controls and Procedures 31 Item 9B Other Information 32 Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 32 PART III Item 10 Directors, Executive Officers, and Corporate Governance 33 Item 11

Executive Compensation

Executive Compensation 36 Item 12

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 38 Item 13 Certain Relationships and Related Transactions, and Director Independence 39 Item 14 Principal Accountant Fees and Services 40 PART IV Item 15 Exhibits and Financial Statement Schedules 41 i PART I

DESCRIPTION OF BUSINESS

ITEM 1. DESCRIPTION OF BUSINESS As used in this annual report, the terms "we", "us", "our", "the Company", mean Kinetic Seas Incorporated, unless otherwise indicated. Cautionary Note Regarding Forward Looking Statements This report contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our ability to locate and acquire an operating business and the resources and efforts we intend to dedicate to such an endeavor, our development of a viable business plan and commencement of operations, and our ability to locate sources of capital necessary to commence operations or otherwise meet our business needs and objectives. All statements other than statements of historical facts contained in this report, including statements regarding our future financial position, liquidity, business strategy and plans and objectives of management for future operations, are forward-looking "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. The results anticipated by any or all of these forward-looking statements might not occur. Important factors, uncertainties and risks that may cause actual results to differ materially from these forward-looking statements include those described in Item 1A. – Risk Factors. We undertake no obligation to publicly update or revise any forward-looking statements, whether as the result of new information, future events or otherwise. Company Overview Kinetic Seas Incorporated (the "Company") was formed o

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View this 10-K/A filing on SEC EDGAR