Magna Corp Files 10-Q for Period Ending Oct 31, 2024

TL;DR

Magna Corp 10-Q filed. Financials for Oct 31, 2024 period out.

AI Summary

Magna Corp filed its 10-Q for the period ending October 31, 2024, reporting on its financial performance. The company, incorporated in Wyoming, operates in the agriculture services sector. Its principal executive offices are located at 325 W Washington St, Ste 2877, San Diego, CA.

Why It Matters

This filing provides investors with an update on Magna Corp's financial health and operational status for the quarter ending October 31, 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial information.

Key Players & Entities

• Magna Corp (company) — Filer of the 10-Q
• 325 W Washington St, Ste 2877, San Diego, CA (location) — Business and Mail Address
• 2024-10-31 (date) — End of reporting period

FAQ

Key Financial Figures

• $13,739 — ry Farming Consultancy in the amount of $13,739 and revenue from the sale of API reques
• $7,595 — e sale of API requests in the amount of $7,595. During the six months ended October 31
• $1,400 — ry Farming Consultancy in the amount of $1,400. The deferred income was $19,388 and $0
• $19,388 — ount of $1,400. The deferred income was $19,388 and $0 as of October 31, 2024 and April
• $0 — 00. The deferred income was $19,388 and $0 as of October 31, 2024 and April 30, 20
• $1,450 — ising expense amounted to approximately $1,450 and $0 for the three and six months end
• $15,950 — r but that have not been received, were $15,950 and $0 as of October 31, 2024 and April
• $4,540 — ctober 31, 2024 and 2023, we recognized $4,540 and $783 worth of amortization expense,
• $783 — 2024 and 2023, we recognized $4,540 and $783 worth of amortization expense, respecti
• $6,875 — ctober 31, 2024 and 2023, we recognized $6,875 and $1,567 worth of amortization expens
• $1,567 — 2024 and 2023, we recognized $6,875 and $1,567 worth of amortization expense, respecti
• $9,076 — n Expense April 30, 2025 (remaining) $9,076 April 30, 2026 $16,958 April 30, 2
• $16,958 — 5 (remaining) $9,076 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 $2,205 11 MAG MAGN

Filing Documents

• magna10q_31oct2024.htm (10-Q) — 288KB
• ex31.htm (EX-31.1) — 14KB
• ex32.htm (EX-32.1) — 5KB
• 0001949864-24-000026.txt ( ) — 1469KB
• mgnc-20241031.xsd (EX-101.SCH) — 11KB
• mgnc-20241031_cal.xml (EX-101.CAL) — 23KB
• mgnc-20241031_def.xml (EX-101.DEF) — 13KB
• mgnc-20241031_lab.xml (EX-101.LAB) — 105KB
• mgnc-20241031_pre.xml (EX-101.PRE) — 76KB
• magna10q_31oct2024_htm.xml (XML) — 124KB

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 15 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 19 Item 1A.

Risk Factors

Risk Factors 19 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 19 Item 3. Defaults Upon Senior Securities 19 Item 4. Mine Safety Disclosures 19 Item 5. Other Information 19 Item 6. Exhibits 19

- 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 October 31, 2024 and April 30, 2024 As of October 31, 2024 (Unaudited) As of April 30, 2024 ASSETS Current Assets Cash and Cash Equivalents $ 8,057 $ - Accounts Receivable 6,444 - Prepaid Expense 27,775 73,600 Total Current Assets 42,276 73,600 Other Assets Intangible Assets, net 72,399 13,172 Total Other Assets 72,399 13,172 TOTAL ASSETS $ 114,675 $ 86,772 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Liabilities Current Liabilities Accounts Payable $ 12,099 $ 12,447 Deferred Income 19,388 - Loan Payable – Related Party 139,292 105,369 Total Current Liabilities 170,779 117,816 Total Liabilities 170,779 117,816 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 October 31, 2024 and April 30, 2024, respectively 5,829 5,829 Additional Paid-in Capital

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. 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 partnered with Ipax LLC ("Ipax"), a Wyoming company. Under a Patent License and Assignment Agreement signed on November 15, 2022, Ipax provided the company with the formula and advisory services. On October 23, 2023, the Company received the notice of effectiveness

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View this 10-Q filing on SEC EDGAR