Netcapital Inc. Files 10-Q for Period Ending January 31, 2024
Ticker: NCPLW · Form: 10-Q · Filed: Mar 18, 2024 · CIK: 1414767
Sentiment: neutral
Topics: Netcapital, 10-Q, Financial Report, Quarterly Filing, Finance Services
TL;DR
<b>Netcapital Inc. has filed its quarterly report (10-Q) for the period ending January 31, 2024, detailing its financial performance and operational status.</b>
AI Summary
Netcapital Inc. (NCPLW) filed a Quarterly Report (10-Q) with the SEC on March 18, 2024. Netcapital Inc. filed a 10-Q report for the period ending January 31, 2024. The company's fiscal year ends on April 30. The filing covers the third quarter of the fiscal year. The company was formerly known as ValueSetters Inc. and ValueSetters Corp. Netcapital Inc. is incorporated in Utah and operates in Finance Services.
Why It Matters
For investors and stakeholders tracking Netcapital Inc., this filing contains several important signals. This filing provides investors with an updated view of Netcapital Inc.'s financial health and strategic direction for the third quarter of its fiscal year. Understanding the details within this 10-Q is crucial for stakeholders to assess the company's performance against its previous periods and its overall market position.
Risk Assessment
Risk Level: low — Netcapital Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant financial distress signals or major strategic shifts that would elevate the risk profile.
Analyst Insight
Monitor future filings for revenue growth and profitability trends to assess the company's long-term viability and market penetration.
Key Numbers
- 2024-01-31 — Reporting Period End Date (Conformed period of report)
- 2024-03-18 — Filing Date (Filed as of date)
- 04-30 — Fiscal Year End (Fiscal year end)
- 2023-05-01 — Quarter Start Date (Fiscal period start date)
- 2024-01-31 — Quarter End Date (Fiscal period end date)
- 6199 — SIC Code (Standard Industrial Classification)
- 001-41443 — SEC File Number (SEC file number)
- 2014-09-24 — Name Change Date (Date of name change)
Key Players & Entities
- Netcapital Inc. (company) — Filer
- ValueSetters Inc. (company) — Former company name
- ValueSetters Corp (company) — Former company name
- UT (location) — State of incorporation
- Boston (location) — Business address city
- MA (location) — Business address state
- 1 Lincoln Street (address) — Business address street
- 781-925-1700 (phone) — Business phone
FAQ
When did Netcapital Inc. file this 10-Q?
Netcapital Inc. filed this Quarterly Report (10-Q) with the SEC on March 18, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by Netcapital Inc. (NCPLW).
Where can I read the original 10-Q filing from Netcapital Inc.?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Netcapital Inc..
What are the key takeaways from Netcapital Inc.'s 10-Q?
Netcapital Inc. filed this 10-Q on March 18, 2024. Key takeaways: Netcapital Inc. filed a 10-Q report for the period ending January 31, 2024.. The company's fiscal year ends on April 30.. The filing covers the third quarter of the fiscal year..
Is Netcapital Inc. a risky investment based on this filing?
Based on this 10-Q, Netcapital Inc. presents a relatively low-risk profile. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant financial distress signals or major strategic shifts that would elevate the risk profile.
What should investors do after reading Netcapital Inc.'s 10-Q?
Monitor future filings for revenue growth and profitability trends to assess the company's long-term viability and market penetration. The overall sentiment from this filing is neutral.
Key Dates
- 2024-01-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
- 2024-03-18: Filing Date — Date the 10-Q report was officially submitted to the SEC.
- 2023-05-01: Fiscal Year Start — Beginning of the current fiscal year for Netcapital Inc.
- 2024-01-31: Fiscal Quarter End — End date of the third fiscal quarter.
Filing Stats: 4,371 words · 17 min read · ~15 pages · Grade level 17.6 · Accepted 2024-03-18 17:14:35
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share NCPL The Nasdaq Stock Mar
- $5.19 — of Common Stock at an exercise price of $5.19 NCPLW The Nasdaq Stock Market LLC
Filing Documents
- form10-q.htm (10-Q) — 1075KB
- ex31-1.htm (EX-31.1) — 18KB
- ex31-2.htm (EX-31.2) — 18KB
- ex32-1.htm (EX-32.1) — 10KB
- ex32-2.htm (EX-32.2) — 9KB
- 0001493152-24-010353.txt ( ) — 5717KB
- ncpl-20240131.xsd (EX-101.SCH) — 44KB
- ncpl-20240131_cal.xml (EX-101.CAL) — 51KB
- ncpl-20240131_def.xml (EX-101.DEF) — 206KB
- ncpl-20240131_lab.xml (EX-101.LAB) — 338KB
- ncpl-20240131_pre.xml (EX-101.PRE) — 263KB
- form10-q_htm.xml (XML) — 787KB
Financial Statements
Item 1. Financial Statements. 5 Condensed Consolidated Balance Sheets as of January 31, 2024 (unaudited) and April 30, 2023 5 Condensed Consolidated Statements of Operations for the three and nine months ended January 31, 2024 and 2023 (unaudited) 6 Condensed Consolidated Statements of Changes in Stockholders' Equity for the nine months ended January 31, 2024 and the year ended April 30, 2023 (unaudited) 7 Condensed Consolidated Statements of Cash Flows for the nine months ended January 31, 2024 and 2023 (unaudited) 8 Notes to Unaudited Condensed Consolidated Financial Statements 9
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. 23
Quantitative and Qualitative disclosures about Market Risk
Item 3. Quantitative and Qualitative disclosures about Market Risk. 29
Controls and Procedures
Item 4. Controls and Procedures. 29 PART II—OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings. 30 Item1A. Risk Factors. 30
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 31
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities. 31
Mine Safety Disclosures
Item 4. Mine Safety Disclosures. 32
Other Information
Item 5. Other Information. 32
Exhibits
Item 6. Exhibits. 32 Signatures. 33 -2- CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND INDUSTRY DATA This Quarterly Report on Form 10-Q contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These statements may be identified by such forward-looking terminology as "may," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue" or the negative of these terms or other comparable terminology. Our forward-looking statements are based on a series of expectations, assumptions, estimates and projections about our company, are not guarantees of future results or performance and involve substantial risks and uncertainty. We may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements. Our business and our forward-looking statements involve substantial known and unknown risks and uncertainties, including the risks and uncertainties inherent in our statements regarding: capital requirements and the availability of capital to fund our growth and to service our existing debt; difficulties executing our growth strategy, including attracting new issuers and investors; our anticipated use of the net proceeds from our recent public offering; economic uncertainties and business interruptions resulting from the coronavirus COVID-19 global pandemic and its aftermath; as restrictions related to the coronavirus COVID-19 global pandemic are removed and face-to-face economic activities normalize, it may be difficult for us to maintain the recent sales gains that we have experienced; all the risks of acquiring one