Medicale Corp. Files Q2 2024 10-Q

TL;DR

Medicale Corp. 10-Q filed for Q2 2024. Health services.

AI Summary

Medicale Corp. filed its quarterly report on Form 10-Q for the period ending June 30, 2024. The company, incorporated in Nevada, operates in the health services sector. Its principal business address is in Wellington, Florida.

Why It Matters

This filing provides investors with an update on Medicale Corp.'s financial performance and operational status for the second quarter of 2024.

Risk Assessment

Risk Level: low — This is a standard quarterly filing with no immediate red flags or significant new information presented.

Key Players & Entities

• Medicale Corp. (company) — Filer of the 10-Q
• 20240630 (date) — End of reporting period
• NV (state) — State of incorporation
• FL (state) — State of business address
• 8000 (industry_code) — Standard Industrial Classification for Health Services

FAQ

Key Financial Figures

• $0.0001 — g as of August 14, 2024 Common Stock: $0.0001 5,920,000 TABLE OF CONTENTS PART 1
• $12,000 — . The Company purchased the website for $12,000 and was amortizing the asset straight-l
• $2,400 — -line over its five-year useful life or $2,400 per year. Due to the impairment evaluat
• $0.01 — verted to the Company's common stock at $0.01 per share. As of June 30, 2024, the acc
• $10,461 — he three months ended June 30, 2024 was $10,461. Operating expenses consist of mainly p
• $8,537 — he three months ended June 30, 2023 was $8,537. Operating expenses consist of mainly p
• $455 — m discontinued operations were $nil and $455. Our net loss for the nine months ende
• $41,332 — the nine months ended June 30, 2024 was $41,332. Operating expenses consist of mainly p
• $22,911 — the nine months ended June 30, 2023 was $22,911. Operating expenses consist of mainly p
• $159 — of June 30, 2024, our total assets were $159 consisting of cash of $159. As of June
• $2,135 — 30, 2024, our current liabilities were $2,135, and current liabilities from discontin
• $68,076 — flows used in operating activities were $68,076 and $13,499, respectively. Cash Flows
• $13,499 — n operating activities were $68,076 and $13,499, respectively. Cash Flows from Investi
• $13,658 — ng activities in the amount $68,076 and $13,658 during the nine months ended June 30, 2

Filing Documents

• medicale_i10q-063024.htm (10-Q) — 278KB
• medicale_ex3100.htm (EX-31) — 7KB
• medicale_ex3200.htm (EX-32) — 2KB
• 0001683168-24-005770.txt ( ) — 1780KB
• mcle-20240630.xsd (EX-101.SCH) — 15KB
• mcle-20240630_cal.xml (EX-101.CAL) — 23KB
• mcle-20240630_def.xml (EX-101.DEF) — 27KB
• mcle-20240630_lab.xml (EX-101.LAB) — 160KB
• mcle-20240630_pre.xml (EX-101.PRE) — 127KB
• medicale_i10q-063024_htm.xml (XML) — 138KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Condensed Balance Sheets as of June 30, 2024 (Unaudited) and September 30, 2023 3 Condensed Statement of Operations for the three and nine months ended June 30, 2024 and 2023 (Unaudited) 4 Condensed Statement of Stockholders' Equity (Deficit) for the three and nine months ended June 30, 2024 and 2023 (Unaudited) 5 Condensed Statement of Cash Flows for the three and nine months ended June 30, 2024 and 2023 (Unaudited) 6 Notes to the 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 12 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 14 Item 4.

Controls and Procedures

Controls and Procedures 14 PART II. OTHER INFORMATION 15 Item 1.

Legal Proceedings

Legal Proceedings 15 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 15 Item 3. Defaults Upon Senior Securities 15 Item 4. Mine Safety Disclosures 15 Item 5. Other Information 15 Item 6. Exhibits 15

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS MEDICALE CORP. CONDENSED BALANCE SHEETS June 30, 2024 September 30, 2023 (Unaudited) ASSETS Current Assets Cash $ 159 $ 159 Total Current Assets 159 159 Total Assets $ 159 $ 159 LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities Related party advances $ – $ 20,480 Accounts payable and accrued expenses 2,135 8,399 Current liabilities from discontinued operations 12,000 12,000 Total Current Liabilities 14,135 40,879 Long term Liabilities Non-Current Convertible Note Payable 68,076 – Total Long-term Liabilities 68,076 – Total Liabilities 82,211 40,879 Stockholders' Deficit Common stock, par value $ 0.0001 ; 75,000,000 shares authorized, 5,920,000 shares issued and outstanding at June 30, 2024, and September 30, 2023 592 592 Additional paid-in capital 76,320 76,320 Accumulated deficit ( 158,964 ) ( 117,632 ) Total Stockholders' Deficit ( 82,052 ) ( 40,720 ) Total Liabilities and Stockholders' Deficit $ 159 $ 159 The accompanying notes are an integral part of these condensed financial statements. 3 MEDICALE CORP. CONDENSED STATEMENT OF OPERATIONS (Unaudited) Three months ended June 30, 2024 Three months ended June 30, 2023 Nine months ended June 30, 2024 Nine months ended June 30, 2023 General and Administrative Expenses $ 9,288 $ 8,537 $ 39,198 $ 23,366 NET LOSS FROM OPERATIONS ( 9,288 ) ( 8,537 ) ( 39,198 ) ( 23,366 ) Other expenses Interest expense 1,173 – 2,134 – TOTAL OTHER EXPENSES 1,173 – 2,134 – Loss before taxes ( 10,461 ) ( 8,537 ) ( 41,332 ) ( 23,366 ) Loss from continuing operations ( 10,461 ) ( 8,537 ) ( 41,332 ) ( 23,366 ) Income from discontinued operations – – – 455 NET LOSS $ ( 10,461 ) $ ( 8,537 ) $ ( 41,332 ) $ ( 22,911 ) NET LOSS PER SHARE: BASIC AND DILUTED FROM CONTINUING OPERATION $ ( 0.00 ) $ ( 0.00 ) $ ( 0.01 ) $ ( 0.00 ) FROM DISCONTINU

financial statements to segregate the discontinued operations as of the earliest period reported

financial statements to segregate the discontinued operations as of the earliest period reported. The following table presents information related to the liabilities that were classified as current liabilities from discontinued operations in our balance sheets: Schedule of discontinued operations - balance sheet June 30, 2024 September 30, 2023 (Unaudited) Current Liabilities Accounts payable and accrued expenses $ 12,000 $ 12,000 Total current liabilities from discontinued operations $ 12,000 $ 12,000 As of June 30, 2024 and 2023 the company has not generate any revenue from discontinued operation. 9 Note 5 – COMMON STOCK The Company has 75,000,000 , $0.0001 par value shares of voting common stock authorized. All shares of common stock have voting rights and are identical. All holders of shares of common stock shall at every meeting of the stockholders be entitled to one vote for each share of the capital stock held by such stockholder. On December 28, 2022, Borisi Alborovi, the previous majority shareholder of Medicale Corp. (the "Company"), entered into a stock purchase agreement for the sale of 3,200,000 shares of Common Stock of the Company (the "Shares") to Magenta Acres, Inc. As of June 30, 2024 the company had 5,920,000 shares issued and outstanding. Voting Common Stock All shares of common stock have voting rights and are identical. All holders of shares of voting common stock shall at every meeting of the stockholders be entitled to one vote for each share of the capital stock held by such stockholder. Non-voting Common Stock All of the other terms of the Non-Voting Common Stock shall be identical to the Voting Common Stock, except for the right of first refusal that attaches to the Non-Voting Common Stock, as explained in the Company's Bylaws. Note 6 – INTANGIBLE ASSETS The Company purchased and possesses an asset in a form of an operative website with news blog. The Company purchased the website for $12,000 and was

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 may 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 no employees other than our officer and director. We presently do not have pension, health, annuity, insurance, stock options, profit sharing or similar benefit plans; however, we may adopt such plans in the future. There are presently no personal benefits 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 and realization of assets and classification of liabilities that might be necessary should we be unable to continue in operation. We e

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