Kinetic Seas Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Kinetic Seas Inc. has filed its 2023 annual report detailing its financial performance and corporate information.</b>

AI Summary

Kinetic Seas Inc. (KSEZ) filed a Annual Report (10-K) with the SEC on April 10, 2024. Kinetic Seas Inc. (formerly Bellatora, Inc.) filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal executive offices are located at 2030 Powers Ferry Road SE, Suite 212, Atlanta, GA 30339. The company was formerly known as Bellatora, Inc., with a name change effective September 6, 2022. The filing includes financial data for the fiscal years ended December 31, 2023, 2022, and 2021.

Why It Matters

For investors and stakeholders tracking Kinetic Seas Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Kinetic Seas Inc.'s financial health, operational activities, and strategic direction for the fiscal year 2023, which is crucial for investors to assess the company's performance and future prospects. The detailed financial statements and disclosures within the 10-K allow stakeholders to understand the company's financial position, including its assets, liabilities, equity, and any changes that occurred during the reporting period.

Risk Assessment

Risk Level: — Kinetic Seas Inc. shows moderate risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate, significant financial or operational disclosures that would indicate a high-risk profile at this stage.

Analyst Insight

Review the full 10-K filing for detailed financial statements, management's discussion and analysis, and risk factors to form a comprehensive investment thesis.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-04-10 — Filing Date (Date of submission)
• 000-56478 — SEC File Number (SEC registration number)

Key Players & Entities

• Kinetic Seas Inc. (company) — Filer name
• Bellatora, Inc. (company) — Former company name
• 2030 Powers Ferry Road SE, Suite 212, Atlanta, GA 30339 (company) — Business address
• 2024-04-10 (date) — Filing date
• 2023-12-31 (date) — Fiscal year end

FAQ

Industry Context

The company operates within the real estate and construction sector, as indicated by its SIC code.

Regulatory Implications

The filing is made in accordance with the Securities Exchange Act of 1934, specifically Section 13 or 15(d), requiring annual reports from public companies.

What Investors Should Do

1. Thoroughly review the financial statements and Management's Discussion and Analysis (MD&A) section of the 10-K.
2. Identify and analyze the risk factors disclosed by Kinetic Seas Inc. in the filing.
3. Compare the 2023 financial results with previous years to identify trends and performance changes.

Year-Over-Year Comparison

This is the initial 10-K filing for Kinetic Seas Inc. under its current name, following the name change from Bellatora, Inc. in September 2022. Therefore, direct year-over-year comparisons of the filing structure and content are limited to the previous filings of Bellatora, Inc.

Key Financial Figures

• $0.10 — iliates of the registrant, based on the $0.10 closing price of the registrant's commo
• $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_i10k-123123.htm (10-K) — 603KB
• kinetic_ex0303.htm (EX-3.3) — 17KB
• kinetic_ex0306.htm (EX-3.6) — 55KB
• kinetic_ex0307.htm (EX-3.7) — 14KB
• kinetic_ex0308.htm (EX-3.8) — 17KB
• kinetic_ex0401.htm (EX-4.1) — 81KB
• kinetic_ex0402.htm (EX-4.2) — 82KB
• kinetic_ex14.htm (EX-14) — 21KB
• kinetic_ex3101.htm (EX-31.1) — 7KB
• kinetic_ex3201.htm (EX-32.1) — 4KB
• image_001.jpg (GRAPHIC) — 2KB
• image_002.jpg (GRAPHIC) — 2KB
• image_009.jpg (GRAPHIC) — 164KB
• image_008.jpg (GRAPHIC) — 53KB
• image_013.jpg (GRAPHIC) — 156KB
• image_014.jpg (GRAPHIC) — 75KB
• image_017.jpg (GRAPHIC) — 162KB
• image_018.jpg (GRAPHIC) — 53KB
• image_019.jpg (GRAPHIC) — 167KB
• image_020.jpg (GRAPHIC) — 54KB
• 0001683168-24-002276.txt (&nbsp;) — 3785KB
• 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) — 133KB
• kinetic_i10k-123123_htm.xml (XML) — 118KB

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

View Full Filing

View this 10-K filing on SEC EDGAR