Magna Corp Files 10-Q for Q2 2024

TL;DR

**Magna Corp 10-Q filed: Check Q2 financials for medicinal chemicals biz.**

AI Summary

Magna Corp filed its 10-Q for the period ending July 31, 2024. The company, operating in medicinal chemicals and botanical products, reported financial data for the quarter and year-to-date. Specific financial figures for revenue, net income, and cash flow are detailed within the filing, alongside balance sheet information as of July 31, 2024, and comparative periods.

Why It Matters

This filing provides investors with a quarterly update on Magna Corp's financial performance and position, crucial for assessing the company's health and future prospects in the medicinal chemicals sector.

Risk Assessment

Risk Level: medium — The company operates in the highly regulated pharmaceutical and chemical sector, which carries inherent risks related to R&D, market competition, and regulatory approvals.

Key Numbers

• 20240731 — Period End Date (Financials reported as of this date.)
• 20240913 — Filing Date (Date the 10-Q was submitted to the SEC.)
• 0430 — Fiscal Year End (Indicates the company's annual reporting cycle.)

Key Players & Entities

• Magna Corp (company) — Filer of the 10-Q
• 2833 (dollar_amount) — Standard Industrial Classification for Medicinal Chemicals & Botanical Products
• 03 Life Sciences (company) — Organization Name
• WY (company) — State of Incorporation
• 20240731 (date) — Conformed Period of Report
• 20240913 (date) — Filing Date

FAQ

Key Financial Figures

• $4,400 — ry Farming Consultancy in the amount of $4,400 and revenue from the sale of API reques
• $893 — e sale of API requests in the amount of $893 . The deferred income was $5,352 as of
• $5,352 — mount of $893 . The deferred income was $5,352 as of July 31, 2024. The services were
• $0 — d an allowance for doubtful accounts of $0 as of July 31, 2024 and April 30, 2024.
• $2,335 — d July 31, 2024 and 2023, we recognized $2,335 and $784 worth of amortization expense,
• $784 — 2024 and 2023, we recognized $2,335 and $784 worth of amortization expense, respecti
• $13,616 — n Expense April 30, 2025 (remaining) $13,616 April 30, 2026 $16,958 April 30, 2
• $16,958 — (remaining) $13,616 April 30, 2026 $16,958 April 30, 2027 $15,020 April 30, 2
• $15,020 — ril 30, 2026 $16,958 April 30, 2027 $15,020 April 30, 2028 $15,020 April 30, 2
• $14,120 — ril 30, 2028 $15,020 April 30, 2029 $14,120 April 30, 2030 $2,203 Impairment o
• $2,203 — ril 30, 2029 $14,120 April 30, 2030 $2,203 Impairment of Long-Lived Assets The
• $11,209 — , Oleg Bilinski advanced to the Company $11,209 for the Company's operating expenses an
• $6,640 — , Oleg Bilinski advanced to the Company $6,640 for the Company's operating expenses an
• $120,000 — to the Director. This loan is for up to $120,000, unsecured, interest-free, with no fixe
• $0.001 — 0) shares of Common Stock, par value of $0.001 per share. On November 26, 2021 the Co

Filing Documents

• maga10q_07312024.htm (10-Q) — 250KB
• ex31.htm (EX-31.1) — 14KB
• ex32.htm (EX-32.1) — 5KB
• 0001949864-24-000019.txt ( ) — 1365KB
• none-20240731_cal.xml (EX-101.CAL) — 21KB
• none-20240731_def.xml (EX-101.DEF) — 12KB
• none-20240731_pre.xml (EX-101.PRE) — 73KB
• none-20240731.xsd (EX-101.SCH) — 11KB
• none-20240731_lab.xml (EX-101.LAB) — 100KB
• maga10q_07312024_htm.xml (XML) — 105KB

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 18 Item 4.

Controls and Procedures

Controls and Procedures 18 PART II OTHER INFORMATION: Item 1.

Legal Proceedings

Legal Proceedings 20 Item 1A

Risk Factors

Risk Factors 20 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 20 Item 3. Defaults Upon Senior Securities 20 Item 4. Mine Safety Disclosures 20 Item 5. Other Information 20 Item 6. Exhibits 20

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1. Condensed Financial Statements. The accompanying interim condensed financial statements of MAG MAGNA CORP ("the Company", "we", "us" or "our"), have been prepared without audit pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with United States generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. 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 condensed financial financial condition, results of operations, and cash flows of the Company for the interim periods presented. 4 MAG MAGNA CORP Condensed Balance Sheets As of July 31, 2024 and April 30, 2024 As of July 31, 2024 (Unaudited) As of April 30, 2024 ASSETS Current Assets Prepaid Expense $ 1,500 $ 73,600 Total Current Assets 1,500 73,600 Other Assets Intangible Assets, net 76,937 13,172 Total Other Assets 76,937 13,172 TOTAL ASSETS $ 78,437 $ 86,772 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Liabilities Current Liabilities Accounts Payable $ 12,224 $ 12,447 Deferred Income 5,352 - Loan Payable – Related Party 105,931 105,369 Total Current Liabilities 123,507 117,816 Total Liabilities 123,507 117,816 Stockholders' Equity (Deficit) Common stock, $ 0.001 par value, 75,000,000 shares authorized, 5,829,047 and 5,829,047 shares issued and outstanding at July 31, 2024 and April 30, 2024, respectively 5,829 5,829 Additional Paid-in Capital 31,897 31,897 Accumulated Deficit ( 82,796 ) ( 68,770 ) Total Stockholders'

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

Management's Discussion and Analysis of Financial Condition and Results of Operations. Mag Magna Corp is a company that was incorporated on September 20, 2021. At present, the company is primarily engaged in organizational activities. The company's primary focus lies in assisting and consulting businesses engaged in poultry farming. The corporation's purpose is to introduce and promote alternative methods of raising chickens without the use of antibiotics. The company has developed formulas for feed additives using natural ingredients and advanced technologies. The company aims to share its expertise with other firms by promoting alternative approaches to chicken farming that prioritize sustainability. The company provides consulting expertise in the following areas: - Poultry farming optimization, including data analysis, planning, and environmental impact. - Optimization of bird feeding processes. - Transitioning to antibiotic-free practices. - IT product integration, covering software, strategic decision consulting, software acquisitions, and integration. - Disease prevention and management. - Egg production and quality improvement. - Implementing sustainable practices in poultry farming, such as waste management, renewable energy integration, and resource sustainability. - Poultry genetics and breeding strategies. - Financial management of poultry farming, including budgeting, financial analysis, insurance, and risk management. To access our consultancy services, users are required to purchase a subscription plan based on the topics selected via our website (https://magmagna.com/). Available consultancy sets include single-topic consultations and packages of 3, 5, or 7 topics. Subscriptions must comply with our Terms of Service, and refunds are not provided. Mag Magna Corp has established a long-term partnership agreement with Ipax LLC ("Ipax"), a Wyoming company. The Patent License and Assignment Agreement ("Agreement"), grants Mag Magna Corp the

View Full Filing

View this 10-Q filing on SEC EDGAR