Nordicus Partners Corp Files 2024 10-K

TL;DR

Nordicus Partners Corp filed its 2024 10-K, detailing financials for the year ending 3/31/24. Check for updates.

AI Summary

Nordicus Partners Corp. filed its 10-K for the fiscal year ending March 31, 2024, reporting on its financial performance and business operations. The company, formerly known as EKIMAS Corp, AdvanSource Biomaterials Corp, and CARDIOTECH INTERNATIONAL INC, is based in Beverly Hills, CA, and operates in the management consulting services sector. The filing details its financial position, including common stock, additional paid-in capital, retained earnings, and treasury stock as of March 31, 2023, and March 31, 2022.

Why It Matters

This 10-K filing provides investors and stakeholders with a comprehensive overview of Nordicus Partners Corp.'s financial health and strategic direction for the fiscal year ending March 31, 2024.

Risk Assessment

Risk Level: low — The filing is a standard annual report and does not contain immediate red flags or significant negative disclosures.

Key Numbers

• 2024-03-31 — Fiscal Year End (The end date for the reporting period covered by the 10-K.)
• 2023-03-31 — Prior Year End (The end date for the previous fiscal year, used for comparative analysis.)
• 2022-03-31 — Year Before Prior (The end date for the fiscal year prior to the previous one, providing further historical data.)

Key Players & Entities

• Nordicus Partners Corp (company) — Filer of the 10-K
• EKIMAS Corp (company) — Former name of Nordicus Partners Corp
• AdvanSource Biomaterials Corp (company) — Former name of Nordicus Partners Corp
• CARDIOTECH INTERNATIONAL INC (company) — Former name of Nordicus Partners Corp
• 280 SOUTH BEVERLY DR. SUITE 505 (location) — Business and mailing address
• BEVERLY HILLS, CA (location) — City and State of Nordicus Partners Corp
• 0331 (date) — Fiscal year end
• 20240331 (date) — Fiscal year end
• 20240703 (date) — Filing date

FAQ

Key Financial Figures

• $400,000 — tanding for total cash consideration of $400,000. Reddington purchased in two tranches o
• $0.001 — f the Company's common stock, par value $0.001 per share. As a result of the Business
• $5.00 — urity that has a market price less than $5.00 per share, subject to certain exception
• $1,000,000 — de individuals with assets in excess of $1,000,000 (not including their personal residence
• $200,000 — l residence) or annual income exceeding $200,000 or $300,000 together with their spouse,
• $300,000 — or annual income exceeding $200,000 or $300,000 together with their spouse, and certain
• $1.00 — 306,000 shares. The exercise price was $1.00 per share for total proceeds of $306,00
• $306,000 — s $1.00 per share for total proceeds of $306,000. On June 20, 2023, the Company and GK
• $1,750,000 — GK Partners. The shares were valued at $1,750,000, using $0.70 per share, the closing sto
• $0.70 — shares were valued at $1,750,000, using $0.70 per share, the closing stock price on t
• $2,500 — e We recognized our first revenues of $2,500 for the year ended March 31, 2024. In J
• $7,500 — e for the year ended March 31, 2024 and $7,500 of deferred revenue as of March 31, 202
• $118,477 — we had officer compensation expense of $118,477 and $0, respectively. On April 17, 2023
• $0 — er compensation expense of $118,477 and $0, respectively. On April 17, 2023, our B
• $72,000 — agreement provided for a base salary of $72,000 per year, commencing April 1, 2023, and

Filing Documents

• form10-k.htm (10-K) — 789KB
• ex10-10.htm (EX-10.10) — 53KB
• ex10-11.htm (EX-10.11) — 55KB
• ex31-1.htm (EX-31.1) — 12KB
• ex31-2.htm (EX-31.2) — 12KB
• ex32.htm (EX-32) — 12KB
• form10-k_001.jpg (GRAPHIC) — 11KB
• report_001.jpg (GRAPHIC) — 3KB
• 0001493152-24-026126.txt ( ) — 3555KB
• nord-20240331.xsd (EX-101.SCH) — 23KB
• nord-20240331_cal.xml (EX-101.CAL) — 35KB
• nord-20240331_def.xml (EX-101.DEF) — 123KB
• nord-20240331_lab.xml (EX-101.LAB) — 215KB
• nord-20240331_pre.xml (EX-101.PRE) — 187KB
• form10-k_htm.xml (XML) — 332KB

Business

Business 3 Item 1A. Risk Factors 4 Item 1B. Unresolved Staff Comments 4 Item 1C. Cybersecurity 4 Item 2.

Properties

Properties 5 Item 3. Legal Proceedings 5 Item 4. Mine Safety Disclosures 5 PART II Item 5. Market Information for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 6 Item 6. [Reserved] 7 Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 7 Item 7A. Quantitative and Qualitative Disclosures About Market Risk. 9 Item 8. Financial 10 Item 9. Changes In and Disagreements With Accountants on Accounting and Financial Disclosure 11 Item 9A. Controls and Procedures 11 Item 9B. Other Information 11 PART III Item 10. Directors, Executive Officers and Corporate Governance 12 Item 11. Executive Compensation 14 Item 12. Security 15 Item 13. Certain Relationships and Related Transactions, and Director Independence 16 Item 14. Principal Accounting Fees and Services 16 PART IV Item 15. Exhibits, Financial Statement Schedules 17 Item 16 Form 10-K Summary 17

Signatures

Signatures 18 2 PART I Item 1. Business. Forward Looking Statements Unless the context indicates otherwise, as used in this Annual Report, the terms "Nordicus," "we," "us," "our," "our company" and "our business" refer, to Nordicus Partners Corporation, including its subsidiary named herein. Certain statements, other than purely historical information, including estimates, projections, statements relating to our business plans, objectives, and expected operating results, and the assumptions upon which those statements are based, are "forward-looking "expects," "anticipates," "estimates," "intends," "strategy," "plan," "may," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements. Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse effect on our operations and future prospects include but are not limited to: changes in economic conditions, legislative/regulatory changes, availability of capital, interest rates, competition, and generally accepted accounting principles. These risks and uncertainties should also be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Corporate History We were founded in 1993 and in 2007 were reincorporated from a Massachusetts corporation to a Delaware corporation. We changed our name from CardioTech International, Inc. to AdvanSource Biomaterials Corporation, effective October 15, 2008. On March 3, 2020, we changed our name to EKIMAS Corporation. On October 12, 2021, we entered into a Stock Purchase Agreement (the "S

Business

Business We are a financial consulting company, specializing in providing Nordic companies with the best possible conditions to establish themselves on the U.S. market, taking advantage of management's combined +90 years of experience in the corporate sector, serving in different capacities both domestically and globally. 3 Our core competencies lie in assisting Danish as well as other Nordic and international companies in different areas of corporate finance activities, such as:

Business

Business valuation Growth strategy – budgeting included Investment Memorandum Attracting capital for businesses Reverse Take Overs (RTOs) Company acquisitions and sales The aforementioned areas of expertise are widely applicable in a lot of industries; however, the companies we service primarily operate in the pharmaceutical, life sciences and healthcare industries. Our mission going forward, is to assist the right Nordic companies realize their growth strategy, by fine tuning systems and processes, sharpening the commercial focus and providing companies with the best possible guidance and setup suited to successfully establish themselves on the U.S. market. Through our business operations, we are being presented with numerous business opportunities and ventures. On occasion we view some of those businesses attractive enough to engage with ourselves and thus acquire an ownership stake in the company. Hence, potentially creating an added revenue stream – alongside the fees from our corporate finance services – if the company's value increases over time. Besides the value we provide through our direct involvement with the companies, we have a comprehensive network of business partners and associates, which spans across Europe and the U.S. We also operate as a business incubator, in which we can provide added value by accelerating and smoothing companies' transition to the U.S. through a number of support resources and services such as office space, lawyers, bookkeepers, marketing specialists, etc. with years of experience navigating through the U.S. marketplace. Hence, providing companies with the optimal conditions needed for their international expansion. Employees We intend to employ outside contractors when needed, as it pertains to legal advice, market analysts, funding specialists, marketing specialists, corporate valuations and investor relations. Item 1A. Risk Factors We are a smaller reporting company as defined by Rule 12b-2 of th

View Full Filing

View this 10-K filing on SEC EDGAR