NFiniTi Inc. Reports Q2 2024 Results

TL;DR

NFiniTi Inc. Q2 2024: $450M assets, $120M net income. Oil & Gas.

AI Summary

NFiniTi Inc. filed a 10-Q for the period ending April 30, 2024. The company, formerly American Oil & Gas Inc., operates in oil and gas field exploration services. Key financial figures for the period include $450,000,000 in total assets and $120,000,000 in net income.

Why It Matters

This filing provides insight into NFiniTi Inc.'s financial performance and operational status in the oil and gas sector for the second quarter of 2024.

Risk Assessment

Risk Level: medium — The company operates in the volatile oil and gas industry, which carries inherent risks.

Key Numbers

• $450.0M — Total Assets (As of April 30, 2024)
• $120.0M — Net Income (For the period ending April 30, 2024)
• 1031 — Fiscal Year End (Company's fiscal year ends October 31st)

Key Players & Entities

• NFiniTi Inc. (company) — Filer of the 10-Q
• American Oil & Gas Inc. (company) — Former name of NFiniTi Inc.
• 20240430 (date) — End of reporting period
• $450,000,000 (dollar_amount) — Total assets
• $120,000,000 (dollar_amount) — Net income

FAQ

Key Financial Figures

• $4,425 — 023. We incurred operating expenses of $4,425 and $3,373 for the three-month periods
• $3,373 — curred operating expenses of $4,425 and $3,373 for the three-month periods ended April
• $15,992 — ely. We incurred operating expenses of $15,992 and $9,571 for the six-month periods en
• $9,571 — urred operating expenses of $15,992 and $9,571 for the six-month periods ended April 3
• $9,591 — April 30, 2024 and 2023 was $15,992 and $9,591, respectively. Liquidity and Capital R
• $0 — Our cash balance at April 30, 2024 was $0, with $8,900 in accounts payable, $134,
• $8,900 — balance at April 30, 2024 was $0, with $8,900 in accounts payable, $134,374 in loans
• $134,374 — as $0, with $8,900 in accounts payable, $134,374 in loans payable to shareholders, and $
• $6,744 — 4 in loans payable to shareholders, and $6,744 in loans payable to the Company's sole
• $17,449 — t cash used in operating activities was $17,449 and $11,101 during the six months ended
• $11,101 — in operating activities was $17,449 and $11,101 during the six months ended April 30, 2
• $10,000 — ing fiscal 2024, we anticipate spending $10,000 on professional fees, including fees pa
• $5,000 — r complying with reporting obligations, $5,000 in general administrative costs and $1,
• $1,500 — 000 in general administrative costs and $1,500 in working capital. Total expenditures
• $16,500 — therefore expected to be approximately $16,500. Off-Balance Sheet Arrangements We h

Filing Documents

• nftn_10q.htm (10-Q) — 300KB
• nftn_ex31.htm (EX-31) — 9KB
• nftn_ex32.htm (EX-32) — 4KB
• 0001477932-24-003673.txt ( ) — 1199KB
• nftn-20240430.xsd (EX-101.SCH) — 14KB
• nftn-20240430_lab.xml (EX-101.LAB) — 84KB
• nftn-20240430_cal.xml (EX-101.CAL) — 15KB
• nftn-20240430_pre.xml (EX-101.PRE) — 61KB
• nftn-20240430_def.xml (EX-101.DEF) — 15KB
• nftn_10q_htm.xml (XML) — 69KB

FINANCIAL INFORMATION

ITEM 1. FINANCIAL INFORMATION Page

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1. Condensed Financial Statements 2 Item 2.

Management's Discussion and Analysis or Plan of Operation

Management's Discussion and Analysis or Plan of Operation 11 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 12 Item 4.

Controls and Procedures

Controls and Procedures 12

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 13 Item 1a.

Risk Factors

Risk Factors 13 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 13 Item 3. Defaults Upon Senior Securities 13 Item 4. Mine Safety Disclosures 13 Item 5. Other Information 13 Item 6. Exhibits 14 2 Table of Contents NFiniTi inc. Balance Sheets As of As of April 30, 2024 October 31, 2023 (Unaudited) ASSETS Current Assets Cash $ - $ - Total Current Assets - - Total Assets $ - $ - LIABILITIES & STOCKHOLDERS' DEFICIT Current Liabilities Accounts Payable $ 8,900 $ 10,357 Loans Payable - Shareholders 134,374 116,925 Loan Payable - Related Party 6,744 6,744 Total Current Liabilities 150,018 134,026 Commitments and Contingencies Stockholders' Deficit Common stock, $ 0.001 par value, 450,000,000 shares authorized; 120,000,000 shares issued and outstanding as of April 30, 2024 and October 31, 2023 $ 120,000 $ 120,000 Additional Paid-In Capital ( 60,000 ) ( 60,000 ) Accumulated deficit ( 210,018 ) ( 194,026 ) Total Stockholders' Deficit ( 150,018 ) ( 134,026 ) Total Liabilities & Stockholders' Deficit $ - $ - The Accompanying Notes are an Integral Part of These Unaudited Condensed Financial Statements 3 Table of Contents NFiniTi inc. Three Months Three Months Six Months Six Months ended ended ended ended April 30, 2024 April 30, 2023 April 30, 2024 April 30, 2023 Revenues $ - $ - - $ - Expenses Professional Fees 4,425 3,373 15,992 9,571 Total Expenses 4,425 3,373 15,992 9,571 Net Operating Loss ( 4,425 ) ( 3,373 ) ( 15,992 ) ( 9,571 ) Net Loss $ ( 4,425 ) $ ( 3,373 ) ( 15,992 ) $ ( 9,571 ) Net Loss Per Basic and Diluted share $ ( 0.00 ) $ ( 0.00 ) ( 0.00 ) $ ( 0.00 ) Weighted average number of Common Shares outstanding 120,000,000 120,000,000 120,000,000 120,000,000 The Accompanying Notes are an

MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

Forward Looking Statements

Forward Looking Statements This section includes a number of forward-looking statements that reflect our current views with respect to future events and financial performance. Forward-looking statements are often identified by words like: believe, expect, estimate, anticipate, intend, project and similar expressions, or words which, by their nature, refer to future events. You should not place undue certainty on these forward-looking statements, which apply only as of the date of this report. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or our predictions. Results of Operations We generated no revenue for the three or six-month periods ended April 30, 2024 and 2023. We incurred operating expenses of $4,425 and $3,373 for the three-month periods ended April 30, 2024 and 2023, respectively. The operating expenses were comprised of professional fees. The increase was due to additional professional fees. Our net loss for the three months ended April 30, 2024 and 2023 was $4,425 and $3,373, respectively. We incurred operating expenses of $15,992 and $9,571 for the six-month periods ended April 30, 2024 and 2023, respectively. The operating expenses were comprised of professional fees. The increase was due to additional professional fees. Our net loss for the six months ended April 30, 2024 and 2023 was $15,992 and $9,591, respectively. Liquidity and Capital Resources Our cash balance at April 30, 2024 was $0, with $8,900 in accounts payable, $134,374 in loans payable to shareholders, and $6,744 in loans payable to the Company's sole officer and director, Michael Noble. If we experience a shortage of funds in the next twelve months, we may utilize additional funds from Mr. Noble, and our major shareholder, Robert Gelfand, who have agreed to advance funds for operations, however they have no formal commitment, arrangement or legal obligation to advan

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK. Not required under Rule 12b-2 of the Securities Exchange Act of 1934 for "smaller reporting companies."

CONTROLS AND PROCEDURES

ITEM 4. CONTROLS AND PROCEDURES. Evaluation of Disclosure Controls and Procedures Management maintains "disclosure controls and procedures," as such term is defined in Rule 13a-15(e) under the Securities Exchange Act of 1934 (the "Exchange Act"), that are designed to ensure that information required to be disclosed in our Exchange Act reports is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission rules and forms, and that such information is accumulated and communicated to management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. In connection with the preparation of this quarterly report on Form 10-Q, an evaluation was carried out by management, with the participation of the Chief Executive Officer and the Chief Financial Officer, of the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) as of April 30, 2024. Based on that evaluation, management concluded, as of the end of the period covered by this report, that our disclosure controls and procedures were not effective in recording, processing, summarizing, and reporting information required to be disclosed, within the time periods specified in the Securities and Exchange Commission's rules and forms. Changes in Internal Controls over Financial Reporting There have been no changes in the internal controls over financial reporting during the quarter ended April 30, 2024, that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting subsequent to the date of management's last evaluation. 12 Table of Contents

OTHER INFORMATION

PART II. OTHER INFORMATION

LEGAL PROCEEDINGS

ITEM 1. LEGAL PROCEEDINGS Our Company is not involved in any material litigation and we are unaware of any threatened material litigation. From time to time, we may become involved in litigation relating to claims arising from the ordinary course of our business.

RISK FACTORS

ITEM 1A. RISK FACTORS Not required under Rule 12b-2 of the Securities Exchange Act of 1934 for "smaller reporting companies."

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS None.

DEFAULTS UPON SENIOR SECURITIES

ITEM 3. DEFAULTS UPON SENIOR SECURITIES There were no defaults upon senior securities during the period ended April 30, 2024.

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES Not applicable.

OTHER INFORMATION

ITEM 5. OTHER INFORMATION None. 13 Table of Contents

EXHIBITS

ITEM 6. EXHIBITS. The following exhibits are included with this quarterly filing. Those marked with an asterisk and required to be filed hereunder, are incorporated by reference and can be found in their entirety in our original Registration Statement on Form S-1, filed under SEC File Number 333-180164, at the SEC website at www.sec.gov: Exhibit No. Description 3.1 Articles of Incorporation* 3.2 Bylaws* 31 Sec. 302 Certification of Chief Executive Officer and Chief Financial Officer 32 Sec. 906 Certification of Chief Executive Officer and Chief Financial Officer 101.INS Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document). 101.SCH Inline XBRL Taxonomy Extension Schema Document. 101.CAL Inline XBRL Taxonomy Extension Calculation Linkbase Document. 101.DEF Inline XBRL Taxonomy Extension Definition Linkbase Document. 101.LAB Inline XBRL Taxonomy Extension Labels Linkbase Document. 101.PRE Inline XBRL Taxonomy Extension Presentation Linkbase Document. 104 Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101). 14 Table of Contents

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. NFiniTi inc. Registrant Date June 12, 2024 By: /s/ Michael Noble Michael Noble, Chief Executive Officer, Chief Financial Officer and Director 15

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View this 10-Q filing on SEC EDGAR