L A M Y Files 10-Q for Period Ending November 30, 2023

TL;DR

<b>L A M Y has filed its quarterly report (10-Q) for the period ending November 30, 2023, detailing its financial performance and operational status.</b>

AI Summary

L A M Y (LMMY) filed a Quarterly Report (10-Q) with the SEC on January 16, 2024. L A M Y filed a 10-Q report for the quarterly period ended November 30, 2023. The filing covers the period from September 1, 2023, to November 30, 2023, and compares it to the same period in 2022. The company's fiscal year ends on May 31. L A M Y is incorporated in Wyoming and has an IRS Employer Identification Number of 37-2039216. The business and mailing address is listed as 201 Allen Street Unit 10104, New York City, New York 10002.

Why It Matters

For investors and stakeholders tracking L A M Y, this filing contains several important signals. This 10-Q filing provides investors with an updated view of L A M Y's financial health and operational progress for the specified quarter. Understanding the details within this report is crucial for stakeholders to assess the company's performance against previous periods and make informed investment decisions.

Risk Assessment

Risk Level: low — L A M Y shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant negative financial disclosures based on the provided header information.

Analyst Insight

Review the detailed financial statements and management discussion within the full 10-Q filing to understand L A M Y's performance and outlook.

Key Numbers

• 2023-11-30 — Quarterly Period End Date (Form 10-Q)
• 2023-09-01 — Quarterly Period Start Date (Form 10-Q)
• 2022-09-01 — Prior Year Comparable Period Start Date (Form 10-Q)
• 2022-11-30 — Prior Year Comparable Period End Date (Form 10-Q)
• 0531 — Fiscal Year End (Company data)

Key Players & Entities

• L A M Y (company) — Filer name
• November 30, 2023 (date) — Quarterly period ended
• September 1, 2023 (date) — Start of quarterly period
• Wyoming (jurisdiction) — State of incorporation
• 37-2039216 (identifier) — IRS Employer Identification Number
• 201 Allen Street Unit 10104 (address) — Business address
• New York City (location) — Business address city
• 10002 (postal_code) — Business address zip

Forward-Looking Statements

• L A M Y will need to secure alternative financing or extend its related-party loans to avoid liquidity issues. (L A M Y) — high confidence, target: 2024-05-24
• The company's financial statements will continue to show a high reliance on related-party funding in the near future. (L A M Y) — medium confidence, target: 2024-08-31

FAQ

Key Dates

• 2023-11-30: Quarterly Period End — End date for the reported 10-Q financial period.
• 2024-01-16: Filing Date — Date the 10-Q report was officially filed with the SEC.

Key Financial Figures

• $29,000 — platform and related property rights of $29,000. The Company amortize its intangibles u
• $0.0001 — ,000,000 shares of its common stock at $0.0001 per share for total proceeds of $ 500 .
• $0.01 — ts common stock at an offering price of $0.01 per share for total proceeds of $ 25,27
• $10,000 — officer and director loaned the Company $10,000 as a long-term unsecured loan with 10%
• $3,000.00 — ing agreed schedule: 1 st installment: $3,000.00 on or before July 1, 2023, 2 nd instal
• $4,000.00 — before July 1, 2024, 3 rd installment: $4,000.00 on or before July 1, 2025, The interes
• $3,000 — he interest amount is expected to be at $3,000, due with the final payment thereto. A
• $5,100.00 — ing agreed schedule: 1 st installment: $5,100.00 on or before September 20, 2023, 2 nd
• $5,000.00 — September 20, 2023, 2 nd installment: $5,000.00 on or before September 20, 2024, 3 rd
• $4,530 — he interest amount is expected to be at $4,530, due with the final payment thereto. A
• $3,875 — mber 30, 2023 & 2022, we have generated $3,875 & $0 in revenues. During the six month
• $0 — 2023 & 2022, we have generated $3,875 & $0 in revenues. During the six months end
• $7,448 — ree months ended November 30, 2023 were $7,448 as compared to $8,407 during the three
• $8,407 — ber 30, 2023 were $7,448 as compared to $8,407 during the three months ended November
• $3,573 — nths ended November 30, 2023 & 2022 was $3,573 & 8,407 respectively. Net loss for six

Filing Documents

• lamy_i10q-113023.htm (10-Q) — 258KB
• lamy_ex3101.htm (EX-31.1) — 9KB
• lamy_ex3102.htm (EX-31.2) — 9KB
• lamy_ex3201.htm (EX-32.1) — 3KB
• lamy_ex3202.htm (EX-32.2) — 3KB
• 0001683168-24-000299.txt (&nbsp;) — 1886KB
• lamy-20231130.xsd (EX-101.SCH) — 21KB
• lamy-20231130_cal.xml (EX-101.CAL) — 29KB
• lamy-20231130_def.xml (EX-101.DEF) — 43KB
• lamy-20231130_lab.xml (EX-101.LAB) — 142KB
• lamy-20231130_pre.xml (EX-101.PRE) — 119KB
• lamy_i10q-113023_htm.xml (XML) — 134KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Condensed Balance Sheets as of November 30, 2023 (Unaudited) and May 31, 2023 (Audited) 3 Condensed Statements of Operations for the three and six months ended November 30, 2023 and 2022 (Unaudited) 4 5 Condensed Statements of Cash Flows for the six months ended November 30, 2023 and 2022 (Unaudited) 6 Notes to condensed Financial Statements (Unaudited) 7 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 14 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 16 Item 4.

Controls and Procedures

Controls and Procedures 16 PART II. OTHER INFORMATION Item 1 .

Legal Proceedings

Legal Proceedings 17 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 17 Item 3. Defaults Upon Senior Securities 17 Item 4. Mine safety disclosures 17 Item 5. Other Information 17 Item 6. Exhibits 17

Signatures

Signatures 18 2 PART I

FINANCIAL STATEMENTS (UNAUDITED)

ITEM 1. FINANCIAL STATEMENTS (UNAUDITED) L A M Y CONDENSED UNAUDITED FINANCIAL STATEMENT FOR THE QUARTER ENDED NOVEMBER 30, 2023 INDEX TO UNAUDITED

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS Balance sheets as on November 30, 2023 (Unaudited) and May 31, 2023 (Audited) 3 4 5 6 Notes to the Unaudited Financial Statements 7 3 L A M Y BALANCE SHEETS NOVEMBER 30, 2023 (Unaudited) MAY 31, 2023 (Audited) ASSETS Current Assets Cash & cash equivalents $ 1,028 $ 7,855 Accounts receivable 3,875 – Total current assets 4,903 7,855 Non-Current assets Intangibles (net) 14,370 19,203 Equipment (net) 7,469 9,986 Total non-Current assets 21,839 29,189 TOTAL ASSETS $ 26,742 $ 37,044 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Accrued expenses $ 2,069 $ 610 Advances from related parties 4,145 3,000 Total current liabilities 6,214 3,610 Non-Current Liabilities Loans from related parties 18,100 18,100 Note payable – related party 10,000 10,000 Note payable – others 29,000 29,000 Accrued Interest 8,250 5,422 Total non-current liabilities 65,350 62,522 Total Liabilities 71,564 66,132 Stockholders' Equity (Deficit) Common stock, $ 0.0001 par value, 100,000,000 shares authorized; 7,777,000 & 5,000,000 shares issued and outstanding as of November 30, 2023 & May 31, 2023 778 778 Additional Paid-In-Capital 27,492 27,492 Accumulated Deficit ( 73,092 ) ( 57,358 ) Total Stockholders' equity (deficit) ( 44,822 ) ( 29,088 ) TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ 26,742 $ 37,044 The accompanying notes are an integral part of these financial statements. 4 L A M Y (UNAUDITED) THREE MONTHS ENDED NOVEMBER 30, 2023 THREE MONTHS ENDED NOVEMBER 30, 2022 SIX MONTHS ENDED NOVEMBER 30, 2023 SIX MONTHS ENDED NOVEMBER 30, 2022

financial statements

financial statements. 9 Fixed Assets Fixed assets are stated at cost, net of accumulated depreciation and accumulated impairment losses, if any. The cost comprises purchase price, borrowing costs, if capitalization criteria are met and directly attributable cost of bringing the asset to its working condition for the intended use. Any subsidy/reimbursement/contribution received for installation and acquisition of any fixed assets is shown as deduction in the year of receipt. Capital work- in progress is stated at cost. Subsequent expenditure related to an item of fixed assets is added to its book value only if it increases the future benefits from the existing asset beyond its previously assessed standard of performance. All other expenses on existing fixed assets, including day-to-day repairs and maintenance expenditure and cost of replacing parts, are charged to the Statement of Profit and Loss for the period during which such expenses are incurred. Gains or losses arising from de-recognition of fixed assets are measured as the difference between the net disposal proceeds and the carrying amount of the assets derecognized. The Company utilizes straight-line depreciation over the estimated useful life of the asset. Office Equipment – 3 years Earnings per Share ASC No. 260, "Earnings Per Share", specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock. The Company has adopted the provisions of ASC No. 260. Basic net loss per share amounts is computed by dividing the net loss by the weighted average number of common shares outstanding. Diluted earnings per share are the same as basic earnings per share due to the lack of dilutive items in the Company. NOTE 4 – EQUIPMENT (NET) Company acquired equipment as on May 25, 2022 for $ 15,100 . The Company depreciates its property using straight-line depreciation over the estimated useful life of 3 years. For the quarter en

MANAGEMENT'S DISCUSSION AND ANALYSIS

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION

FORWARD LOOKING STATEMENTS

FORWARD LOOKING STATEMENTS 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 by the use of 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 statements, which speak only as of the date made. Any forward-looking statements represent management's best judgment as to what occur in the future. However, forward-looking statements are subject to risks, uncertainties and important 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. EMPLOYEES AND EMPLOYMENT AGREEMENTS At present we have to employees. Beside our officer and director Mr. Witmer, we also have an executive employee Mr. Stephen Townsend. We presently do not have pension, health, annuity, insurance, stock options, profit sharing or similar benefit plans; however, we intend to adopt such plans in the near future. On top of the employment agreements compensations of these two employees, there are presently no additional personal bonuses available to any officers, directors or employees. Results of Operation Our financial statements have been prepared assuming that we will continue as a going concern and, accordingly, do not include adjustments relating to the recoverability

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View this 10-Q filing on SEC EDGAR