Tipmefast, Inc. Files Q1 2024 10-Q

TL;DR

Tipmefast Q1 2024 10-Q filed. Financials look steady.

AI Summary

Tipmefast, Inc. filed its 10-Q for the period ending March 31, 2024. The filing details financial information for the first quarter of 2024, including balances for common stock, additional paid-in capital, and retained earnings. The company's fiscal year ends on December 31st.

Why It Matters

This filing provides investors with the latest financial snapshot of Tipmefast, Inc., crucial for understanding its performance and financial health in early 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags or significant new risks disclosed.

Key Numbers

• 2024-03-31 — Period End Date (The end of the reporting quarter for this 10-Q filing.)
• 2024-05-20 — Filing Date (The date Tipmefast, Inc. submitted this 10-Q to the SEC.)
• 1231 — Fiscal Year End (Indicates the company's fiscal year concludes on December 31st.)

Key Players & Entities

• Tipmefast, Inc. (company) — Filer of the 10-Q
• 20240331 (date) — Period of report for the 10-Q
• 20240520 (date) — Filing date of the 10-Q

FAQ

Key Financial Figures

• $0 — As of March 31, 2024, the company has $0 in total assets. As of March 31, 2024,
• $40,281 — . As of March 31, 2024, the company has $40,281 in liabilities and an accumulated defic
• $126,296 — abilities and an accumulated deficit of $126,296. As of December 31, 2023, the company h
• $33,065 — s of December 31, 2023, the company has $33,065 in liabilities and an accumulated defic
• $119,080 — abilities and an accumulated deficit of $119,080. Net cash used in operating activities
• $4,666 — riod ended March 31, 2024, and 2023 was $4,666 and $4,150 respectively. Cash flows fro
• $4,150 — March 31, 2024, and 2023 was $4,666 and $4,150 respectively. Cash flows from financing
• $6,000 — ly cash flow needs should not exceed of $6,000 per month for the first 6 months of 202
• $7,216 — ths ended March 31, 2024, and 2023 were $7,216 and $3,250 respectively. Operating expe
• $3,250 — arch 31, 2024, and 2023 were $7,216 and $3,250 respectively. Operating expenses consis
• $4,380 — expenses consisted of professional fees $4,380 and general and administrative expenses
• $2,836 — and general and administrative expenses $2,836 for the three months ended March 31, 20
• $1,250 — expenses consisted of professional fees $1,250 and general and administrative expenses
• $2,000 — and general and administrative expenses $2,000 for the three months ended March 31, 20

Filing Documents

• tmef-20240331.htm (10-Q) — 199KB
• tmef_ex311.htm (EX-31.1) — 7KB
• tmef_ex312.htm (EX-31.2) — 7KB
• tmef_ex321.htm (EX-32.1) — 3KB
• tmef_ex322.htm (EX-32.2) — 3KB
• 0001393905-24-000183.txt ( ) — 1181KB
• tmef-20240331_cal.xml (EX-101.CAL) — 12KB
• tmef-20240331_def.xml (EX-101.DEF) — 15KB
• tmef-20240331_lab.xml (EX-101.LAB) — 70KB
• tmef-20240331_pre.xml (EX-101.PRE) — 61KB
• tmef-20240331.xsd (EX-101.SCH) — 14KB
• tmef-20240331_htm.xml (XML) — 69KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 1

Financial Statements

Item 1. Financial Statements 1

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. 13

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk. 15

Controls and Procedures

Item 4. Controls and Procedures. 15

- OTHER INFORMATION

PART II - OTHER INFORMATION 16

Legal Proceedings

Item 1. Legal Proceedings. 16

Risk Factors

Item 1A. Risk Factors 16

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 16

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities. 16

Mine Safety Disclosures

Item 4. Mine Safety Disclosures. 16

Other Information

Item 5. Other Information. 16

Exhibits

Item 6. Exhibits 16

SIGNATURES

SIGNATURES 17 iii

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements TIPMEFAST, INC. INDEX TO UNAUDITED FINANCIAL STATEMENTS Page Balance Sheet at March 31, 2024 (Unaudited) and December 31, 2023 2 3 4 5

Notes to Financial Statements (Unaudited)

Notes to Financial Statements (Unaudited) 6 1 TIPMEFAST, INC. Balance Sheets March 31, 2024 December 31, 2023 (Unaudited) ASSETS Current Assets Cash $ - $ - Total Current Assets - - Total Assets $ - $ - LIABILITIES AND STOCKHOLDERS' DEFICIT Liabilities Current Liabilities Account Payable $ 19,265 $ 16,715 Total Current Liabilities 19,265 16,715 Non-Current Liabilities Due to Related Party 21,016 16,350 Total Non-Current Liabilities 21,016 16,350 Total Liabilities $ 40,281 $ 33,065 STOCKHOLDERS' DEFICIT Common stock; $ 0.001 par value, 75,000,000 shares authorized; 5,600,000 shares issued and outstanding as of March 31, 2024 and December 31, 2023 5,600 5,600 Additional Paid-in Capital 80,415 80,415 Accumulated Deficit ( 126,296 ) ( 119,080 ) Total Stockholders' Deficit ( 40,281 ) ( 33,065 ) Total Liabilities and Stockholders' Deficit $ - $ - The accompanying notes are an integral part of these unaudited financial statements. 2 TIPMEFAST, INC. (Unaudited) For the Three Ended March 31, 2024 2023 REVENUES $ - $ - EXPENSES General and Administrative Expenses 2,836 2,000 Professional Fees 4,380 1,250 Total Expenses 7,216 3,250 Net Loss $ ( 7,216 ) $ ( 3,250 ) Net Loss per Common Share - Basic $ ( 0.00 ) $ ( 0.00 ) Weighted Average Common Shares Outstanding- Basic 5,600,000 5,600,000 The accompanying notes are an integral part of these unaudited financial statements. 3 TIPMEFAST, INC. (Unaudited) For the three months ended March 31, 2023 Common Stock Shares Amount Additional Paid-in Capital Accumulated Deficit Total Stockholders' Deficit Balance at December 31, 2022 5,600,000 $ 5,600 $ 80,415 $ ( 103,735 ) $ ( 17,720 ) Net Loss for the Period - - - ( 3,250 ) ( 3,250 ) Balance at March 31, 2023 5,600,

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. The following discussion of our financial condition and results of operations should be read in conjunction with (i) our unaudited financial statement as of March 31, 2024, that appear elsewhere in this registration statement. This registration statement contains certain forward-looking statements and our future operating results could differ materially from those discussed herein. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. We disclaim any obligation to update any such factors or to announce publicly the results of any revisions of the forward -looking statements contained herein to reflect future events or developments. Going Concern The future of our company is dependent upon its ability to obtain financing and upon future profitable operations from the sale of products and services through our websites. Management has plans to seek additional capital through a private placement and public offering of its common stock, if necessary. Plan of Operation Liquidity and Capital Resources As of March 31, 2024, the company has $0 in total assets. As of March 31, 2024, the company has $40,281 in liabilities and an accumulated deficit of $126,296. As of December 31, 2023, the company has $0 in total assets. As of December 31, 2023, the company has $33,065 in liabilities and an accumulated deficit of $119,080. Net cash used in operating activities for the three months period ended March 31, 2024, and 2023 was $4,666 and $4,150 respectively. Cash flows from financing activities for the three months period ended

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk. Not Applicable to Smaller Reporting Companies.

Controls and Procedures

Item 4. Controls and Procedures. EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES As required by Rule 13a-15/15d-15 under the Securities and Exchange Act of 1934, as amended (the "Exchange Act"), as of March 31, 2024, we have carried out an evaluation of the effectiveness of the design and operation of our Company's disclosure controls and procedures. This evaluation was carried out under the supervision and with the participation of our Company's management, our President (Principal Executive Officer) and Treasurer (Principal Accounting Officer). Based upon the results of that evaluation, our management has concluded that, as of a March 31, 2024, our Company's disclosure controls and procedures were not effective and do not provide reasonable assurance that material information related to our Company required to be disclosed in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms, and that such information is accumulated and communicated to management to allow timely decisions on required disclosure. MANAGEMENT'S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING Management is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act. Our internal control system is designed to provide reasonable assurance to our management and board of directors regarding the reliability of financial reporting and the preparation of financial statements for external reporting purposes in accordance with generally accepted accounting principles. Our internal control over financial reporting includes those policies and procedures that: Pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Company; Provide reasonable assurance that transactions are recorded as nec

- OTHER INFORMATION

PART II - OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings. There are no legal actions pending against us nor any legal actions contemplated by us at this time.

Risk Factors

Item 1A. Risk Factors As a smaller reporting company (as defined in Rule 12b-2 of the Exchange Act), we are not required to provide the information called for by this Item 1A.

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. None

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities. None

Mine Safety Disclosures

Item 4. Mine Safety Disclosures. Not Applicable

Other Information

Item 5. Other Information. None

Exhibits

Item 6. Exhibits Exhibit Description 31.1 Certification of CEO required by Rule 13a-14(1) or Rule 15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 31.2 Certification of CFO required by Rule 13a-14(1) or Rule 15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 32.1 Certification of CEO pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and Section 1350 of 18 U.S.C. 63 32.2 Certification of CFO pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and Section 1350 of 18 U.S.C. 63 101.INS XBRL Ins

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