Miami Breeze Car Care Inc. Files 2023 Annual Report

TL;DR

<b>Miami Breeze Car Care Inc. has submitted its 2023 10-K annual report, detailing its operations and financial standing.</b>

AI Summary

MIAMI BREEZE CAR CARE INC (MIBE) filed a Annual Report (10-K) with the SEC on April 15, 2024. Miami Breeze Car Care Inc. filed its 10-K annual report for the fiscal year ending December 31, 2023. The company is incorporated in Florida and operates in the automotive repair, services, and parking sector (SIC 7500). The filing includes financial data for the fiscal years 2023, 2022, and 2021. Key dates related to various agreements and executive appointments are noted within the filing. The company's principal business address is in Miami, Florida.

Why It Matters

For investors and stakeholders tracking MIAMI BREEZE CAR CARE INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Miami Breeze Car Care Inc.'s financial performance and operational status for the fiscal year 2023, crucial for investors and stakeholders to assess the company's health. The report details various agreements and executive changes, offering insights into the company's strategic direction and management structure.

Risk Assessment

Risk Level: low — MIAMI BREEZE CAR CARE INC shows low risk based on this filing. The filing is a standard 10-K report with no immediate red flags, indicating a routine disclosure of financial and operational information.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Miami Breeze Car Care Inc.'s performance and potential challenges.

Key Numbers

• 2023-12-31 — Fiscal Year End (Period of report)
• 2024-04-15 — Filing Date (Date the 10-K was filed)
• 7500 — SIC Code (Services-Automotive Repair, Services & Parking)

Key Players & Entities

• MIAMI BREEZE CAR CARE INC (company) — Filer name
• 848 BRICKELL AVE (location) — Business and mailing address
• MIAMI (location) — City for business and mailing address
• FL (location) — State for business and mailing address
• 33131 (location) — ZIP code for business and mailing address
• Wolfgang Ruecker (person) — Mentioned in relation to agreements

FAQ

Industry Context

Miami Breeze Car Care Inc. operates within the automotive repair, services, and parking industry.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded entities.

What Investors Should Do

1. Analyze the financial statements for revenue, expenses, and profitability trends.
2. Examine any disclosed risk factors to understand potential business challenges.
3. Review executive compensation and related-party transactions if detailed in the filing.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-04-15: Filing Date — Date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This is the company's 10-K filing for the fiscal year 2023, providing updated financial and operational information compared to previous filings.

Key Financial Figures

• $0.0001 — e Exchange Act: Common Stock, par value $0.0001 per share Indicate by check mark if t
• $0.00 — iliates based upon the closing price of $0.00 per share of common stock as of June 30
• $9.76 billion — e Products Market Size was estimated at $9.76 billion in 2021 and is projected to reach $14.5
• $14.583 billion — llion in 2021 and is projected to reach $14.583 billion by 2028, exhibiting a CAGR of 5.90% dur
• $850,912 — 023 and 2022, we incurred a net loss of $850,912 and $1,599,256, respectively, and on De
• $1,599,256 — we incurred a net loss of $850,912 and $1,599,256, respectively, and on December 31, 2023
• $3,431,085 — 2023, we had an accumulated deficit of $3,431,085. On December 31, 2023, we had cash of $
• $74,889 — 5. On December 31, 2023, we had cash of $74,889. We have generated minimal revenues to
• $740,000 — within the next 12 months we will need $740,000 to continue operations. See "Estimated

Filing Documents

• miami-20241231_10k.htm (10-K) — 617KB
• miami-20241231_10kex23z1.htm (EX-23) — 5KB
• miami-20241231_10kex31z1.htm (EX-31.1) — 10KB
• miami-20241231_10kex31z2.htm (EX-31.2) — 10KB
• miami-20241231_10kex32z2.htm (EX-32.1) — 4KB
• image_001.jpg (GRAPHIC) — 69KB
• image_01.jpg (GRAPHIC) — 13KB
• image_02.jpg (GRAPHIC) — 2KB
• image_03.jpg (GRAPHIC) — 2KB
• image_04.jpg (GRAPHIC) — 2KB
• image_05.jpg (GRAPHIC) — 8KB
• image_06.jpg (GRAPHIC) — 4KB
• 0001520138-24-000172.txt (&nbsp;) — 2736KB
• cik0001872066-20231231.xsd (EX-101.SCH) — 17KB
• cik0001872066-20231231_cal.xml (EX-101.CAL) — 26KB
• cik0001872066-20231231_def.xml (EX-101.DEF) — 50KB
• cik0001872066-20231231_lab.xml (EX-101.LAB) — 158KB
• cik0001872066-20231231_pre.xml (EX-101.PRE) — 130KB
• miami-20241231_10k_htm.xml (XML) — 213KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 3 Item 1B. Unresolved Staff Comments 10 Item 1C. Cybersecurity 10 Item 2.

Properties

Properties 10 Item 3

Legal Proceedings

Legal Proceedings 10 Item 4. Mine Safety Disclosures 10 PART II 10 Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 10 Item 6. [Reserved] 11 Item 7.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 11 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 15 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 15 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosures 16 Item 9A.

Controls and Procedures

Controls and Procedures 16 Item 9B. Other Information 17 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 17 PART III 17 Item 10. Directors, Executive Officers and Corporate Governance 17 Item 11.

Executive Compensation

Executive Compensation 18 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 20 Item 13. Certain Relationships and Related Transactions, and Director Independence 22 Item 14. Principal Accountant Fees and Services 23 PART IV 23 Item 15. Exhibits and Financial Statement Schedules 23 Item 16. Form 10-K Summary 24

Signatures

Signatures 25 i Table of Contents Cautionary Note Regarding Forward-Looking Statements This Annual Report on Form 10-K (this "Report") contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, contained in this Report, including statements regarding our strategy, future operations, future financial position, future revenue, projected costs, prospects, plans and objectives of management and expected market growth, are forward-looking "will," "would," "should," "expect," "plan,", "anticipate," "believe," "estimate," "intend," "predict," "seek," "contemplate," "project," "continue," "potential," "ongoing" or the negative of these terms or other comparable terminology. These forward-looking statements include, but are not limited to, statements about: our ability to obtain additional funds for our operations; our reliance on third party distributors and manufacturers; the initiation, timing, progress and results of our research and development programs; our dependence on current and future collaborators for developing new products; the rate and degree of market acceptance of our products; the implementation of our business model and strategic plans for our business; our estimates of our expenses, losses, future revenue and capital requirements, including our needs for additional financing; our reliance on third party suppliers to supply the materials and components for our products; our ability to attract and retain qualified key management and technical personnel; our financial performance; the impact of government regulation and developments relating to our competitors or our industry; and other risks and uncertainties, including those listed under the caption "Risk Factors." These statements relate to future events or our future operationa

BUSINESS

ITEM 1. BUSINESS The following discussion should be read in conjunction with our financial statements and the related notes to the financial statements that appear elsewhere in this Report. As used in this Report and unless otherwise indicated, the terms "Miami Breeze," "Company," "we," "us," or "our" refer to Miami Breeze Car Care Inc., as the context may require. Overview We were incorporated on February 25, 2021 in the State of Florida. As our name suggests, we are in the car care business. Our history dates back to 2018 when Wolfgang Ruecker, our Founder and CEO and car enthusiast, was confronted with a challenge: how do you keep a car with the scent it had as brand-new right off the new car lot. The challenge led to years of collaboration with chemical engineers and mixers/perfumers resulting in what we believe delivers the perfect sensory experience for a luxury car: the Miami Breeze Car Care Products. Our Business Product Offerings Miami Breeze has developed a unique formula that helps simulate a new car smell. Our car cleaning spray and leather conditioner will have a car's interior smelling brand new. The interior cleaner ensures that the car looks and feels fresh and clean, Formulated to thoroughly clean and protect all hard interior surfaces, our cleaner lifts dust and grime and leaves a shield of protection from fading, cracking and harmful UV rays. Perfect for dashboards, interior panels and plastic, rubber or vinyl trim, the immaculate matt finish is complemented by the long-lasting Miami Breeze luxury new car scent. Commercial Market Strategy We are passionate about bringing our unique, luxury new car scent technology to the automotive car market. We intend to target the following customers. Pre-owned car dealers Luxury car owners Digital savvy millennials Automotive dealers and car wash outfits Rental car/Ride share operators: Uber, Lyft, Zoom car, Turo, etc. Online Influencers Car enthusiasts Caravan and camping enthus

RISK FACTORS

ITEM 1A. RISK FACTORS Investing in our common stock involves a high degree of risk. You should not invest in our stock unless you are able to bear the complete loss of your investment. You should carefully consider the risks described below, as well as other information provided to you in this annual report on Form 10-K, including information in "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Cautionary Note Regarding Forward-Looking Information" before making an investment decision. The risks and uncertainties described below are not the only ones facing Maimi Breeze. Additional risks and uncertainties not presently known to us or that we currently believe are immaterial may also impair our business operations. If any of the following risks actually occur, our business, financial condition or results of operations could be materially adversely affected, the value of our common stock could decline, and you may lose all or part of your investment. RISKS RELATED TO OUR BUSINESS We have only a limited history upon which an evaluation of our prospects and future performance can be made and have no history of profitable operations. We were incorporated in 2021 and have a limited history upon which an evaluation of our prospects and future performance can be made and have no history of profitable operations. We may sustain losses in the future as we implement our business plan. We have not yet achieved positive cash flow on a monthly basis during any fiscal year including the fiscal year ended December 31, 2023, and there can be no assurance that we will ever generate sufficient revenues or operate profitably. We will require additional financing in the future to fund our operations. We will need additional capital in the future to continue to execute our business plan. Therefore, we will be dependent upon additional capital in the form of either debt or equity to continue our operations. At the present time, we do n

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View this 10-K filing on SEC EDGAR