Londax Corp. Files 10-Q for August 31, 2024

TL;DR

Londax Corp. 10-Q filed: Financials for Aug 31, 2024, out. Check common stock, APIC, retained earnings.

AI Summary

Londax Corp. filed its 10-Q for the period ending August 31, 2024. The company, incorporated in Wyoming and operating in computer programming services, reported its financial status. Key financial data points such as common stock, additional paid-in capital, and retained earnings for the periods ending May 31, 2024, and August 31, 2024, were disclosed.

Why It Matters

This filing provides investors and analysts with a quarterly update on Londax Corp.'s financial health and performance, crucial for investment decisions.

Risk Assessment

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

Key Numbers

• 2024-08-31 — Reporting Period End Date (The end of the fiscal quarter for this 10-Q filing.)
• 2024-05-31 — Previous Fiscal Year End Date (Provides a comparison point for financial data.)
• 2023-08-31 — Prior Year Comparable Period End Date (Allows for year-over-year financial comparison.)

Key Players & Entities

• Londax Corp. (company) — Filer of the 10-Q
• 0001985554 (company) — Central Index Key for Londax Corp.
• 82001 (dollar_amount) — ZIP code for Londax Corp. business address
• LV-1082 (dollar_amount) — ZIP code for Londax Corp. mail address
• 3727121419 (dollar_amount) — Business phone number for Londax Corp.

FAQ

Key Financial Figures

• $0.001 — r consideration of $ 4,000 at par value $0.001 to director Olegs Pavlovs. The Company
• $0.03 — consideration of $ 21,156 at par value $0.03 per share. In February 2024 the Compan
• $25,708 — the Company generated total revenue of $25,708 and $10,600, respectively, from providi
• $10,600 — generated total revenue of $25,708 and $10,600, respectively, from providing services
• $15,411 — three months ended August 31, 2024 were $15,411 ($7,898 for the three months ended Augu
• $7,898 — ths ended August 31, 2024 were $15,411 ($7,898 for the three months ended August 31, 2
• $338 — mortization and depreciation expense of $338 ($85 for the three months ended August
• $85 — ation and depreciation expense of $338 ($85 for the three months ended August 31, 2
• $4,627 — general and administrative expenses of $4,627 ($9 for the three months ended August 3
• $9 — and administrative expenses of $4,627 ($9 for the three months ended August 31, 2
• $10,446 — August 31, 2023); professional fees of $10,446 ($7,804 for the three months ended Augu
• $7,804 — 1, 2023); professional fees of $10,446 ($7,804 for the three months ended August 31, 2
• $10,297 — The company recorded a net income of $10,297 for the three months ended August 31, 2
• $2,702 — three months ended August 31, 2024, and $2,702 for the three months ended August 31, 2
• $1,664 — S As of May 31, 2024, the Company had $1,664 in cash and our liabilities were $18,77

Filing Documents

• londax_i10q-083124.htm (10-Q) — 260KB
• londax_ex3101.htm (EX-31.1) — 13KB
• londax_ex3102.htm (EX-31.2) — 13KB
• londax_ex3201.htm (EX-32.1) — 4KB
• londax_ex3202.htm (EX-32.2) — 4KB
• 0001683168-24-007065.txt ( ) — 1714KB
• none-20240831.xsd (EX-101.SCH) — 15KB
• none-20240831_cal.xml (EX-101.CAL) — 23KB
• none-20240831_def.xml (EX-101.DEF) — 35KB
• none-20240831_lab.xml (EX-101.LAB) — 159KB
• none-20240831_pre.xml (EX-101.PRE) — 130KB
• londax_i10q-083124_htm.xml (XML) — 93KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Balance Sheets – August 31, 2024 (Unaudited) and May 31, 2024 4 5 6 7 Notes to the Unaudited Financial Statements 8 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 12 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 17 Item 4.

Controls and Procedures

Controls and Procedures 17 PART II OTHER INFORMATION: Item 1.

Legal Proceedings

Legal Proceedings 18 Item 1A.

Risk Factors

Risk Factors 18 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 18 Item 3. Defaults Upon Senior Securities 18 Item 4. Submission of Matters to a Vote of Securities Holders 18 Item 5. Other Information 18 Item 6. Exhibits 18

Signatures

Signatures 19 2 PART 1 – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements The accompanying interim financial statements of Londax Corp. ("the Company", "we", "us" or "our"), have been prepared without audit pursuant to the rules and regulations of the Securities and Exchange Commission. 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 adjustments considered necessary to present fairly the financial condition, results of operations, and cash flows of the Company for the interim periods presented. 3 LONDAX CORP. BALANCE SHEETS August 31, 2024 (Unaudited) May 31, 2024 (Audited) ASSETS Cash $ 1,959 $ 1,664 Prepaid Expenses 20,000 20,000 Software in Development – 33,000 Total Current Assets 21,959 54,664 Fixed Assets, Net 327 374 Software Development Costs, Net 28,828 – Website, Net 2,296 2,587 Total Assets $ 53,410 $ 57,625 LIABILITIES AND STOCKHOLDERS' EQUITY Notes Payable $ – $ 14,512 Related Party Loan 4,260 4,260 Total Current Liabilities 4,260 18,772 Common Stock, $ 0.001 par value, 75,000,000 shares authorized; 5,231,135 and 5,231,135 shares issued and outstanding, respectively 5,231 5,231 Additional Paid-in Capital 35,703 35,703 Accumulated Income (Deficit) 8,216 ( 2,081 ) Total Stockholders' Equity 49,150 38,853 Total Liabilities and Stockholders' Equity $ 53,410 $ 57,625 The accompanying notes are an integral part of these unaudited financial statements. 4 LONDAX CORP. Three months ended August 31, 2024 (Unaudited) Three months ended August 31, 2023 (Unaudited) REVENUES $ 25,708 $ 10,600 OPERATING EXPENSES Amortization and Depreciation Expense 338 85 General and Administrative Expenses 4,627 9 Professional Fees 10,446 7,804 TOTAL OPERATING EXPENSES 15,41

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 STATEMENTS

FORWARD LOOKING STATEMENTS This report contains forward-looking "believe", "plan", "expect", "future", "intend", and similar expressions to identify such forward-looking statements. Investors should be aware that all forward-looking statements contained within this filing are good faith estimates of management as of the date of this filing. Our actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks faced by us in this report. DESCRIPTION OF BUSINESS Our company was established as a Wyoming corporation on May 19, 2023. As a developmental-stage enterprise, our primary focus is on offering IT consulting services and software development solutions. Our web site is https://londaxcorp.com/. Currently, we are in process of developing and implementing our flagship product https://londax.ai/, which comprises a Customer Relationship Management (CRM) System, Applicant Tracking Systems (ATS), and out-staffing services. Our aim will be to provide high-quality and innovative business solutions to our clients while ensuring superior customer satisfaction. Our principal executive office is located at Puces iela 47, Riga, Latvia LV-1082. Our phone number is +372 712 1419. Our company has developed and implemented a customized Customer Relationship Management (CRM) system that facilitates out-staffing for our clients. Our software is designed to seamlessly integrate into our clients' corporate structures, enabling them to hire and manage their staff, including top managers and IT specialists, with ease. We are intending to operate in Europe with potential for working worldwide. From a technical perspective, londax.ai is a web application consisting of Frontend and Backend components hosted on cloud services provided by AWS. Londax.ai CRM system is developed for analyzing and monitoring the recruitment process using

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS During the past ten years, none of the following occurred with respect to the President of the Company: (1) any bankruptcy petition filed by or against any business of which such person was a general partner or executive officer either at the time of the bankruptcy or within two years prior to that time; (2) any conviction in a criminal proceeding or being subject to a pending criminal proceeding (excluding traffic violations and other minor offenses); (3) being subject to any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of any competent jurisdiction, permanently or temporarily enjoining, barring, suspending or otherwise limiting his involvement in any type of business, securities or banking activities; and (4) being found by a court of competent jurisdiction (in a civil action), the SEC or the commodities futures trading commission to have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended or vacated. We are not currently a party to any legal proceedings, and we are not aware of any pending or potential legal actions. 14 RESULTS OF OPERATIONS Results of Operations for the three months ended August 31, 2024 and 2023: Revenue For the three months ended August 31, 2024 and 2023, the Company generated total revenue of $25,708 and $10,600, respectively, from providing services to its customers. Operating expenses Total expenses for the three months ended August 31, 2024 were $15,411 ($7,898 for the three months ended August 31, 2023) consisting of amortization and depreciation expense of $338 ($85 for the three months ended August 31, 2023); general and administrative expenses of $4,627 ($9 for the three months ended August 31, 2023); professional fees of $10,446 ($7,804 for the three months ended August 31, 2023). Net Income (Losses) The company recorded a net income of $10,297 for the three months ended August 31, 2024, and $2,702 f

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View this 10-Q filing on SEC EDGAR