Natics Corp. Files 2024 10-K

TL;DR

Natics Corp. 10-K filed. FY24 results out.

AI Summary

Natics Corp. filed its 10-K for the fiscal year ending April 30, 2024. The company, incorporated in Wyoming, operates in computer processing and data preparation services. Its principal executive offices are located in Rehovot, Israel. The filing covers the period from May 1, 2023, to April 30, 2024.

Why It Matters

This 10-K filing provides a comprehensive overview of Natics Corp.'s financial performance and business operations for the fiscal year 2024, crucial for investors and stakeholders to assess the company's health and future prospects.

Risk Assessment

Risk Level: low — The provided text is a header and basic company information from a 10-K filing, lacking specific financial performance details or forward-looking statements that would indicate higher risk.

Key Numbers

• 20240430 — Fiscal Year End (The end date of the reporting period for the 10-K.)
• 20240604 — Filing Date (The date the 10-K was officially filed with the SEC.)

Key Players & Entities

• Natics Corp. (company) — Filer of the 10-K
• 0001933359 (company) — Central Index Key for Natics Corp.
• 7374 (company) — Standard Industrial Classification Code for Services-Computer Processing & Data Preparation
• Rehovot (location) — City of business and mailing address
• 20240430 (date) — Fiscal year end date

FAQ

Key Financial Figures

• $0.0001 — ng as of April 30, 2024 Common Stock: $0.0001 5,495,300 TABLE OF CONTENTS PART I
• $7,860 — he fiscal year ended April 30, 2024 was $7,860 compared to a net loss of $26,102 durin
• $26,102 — 24 was $7,860 compared to a net loss of $26,102 during the fiscal year ended April 30,
• $21,920 — 30, 2024 we generated total revenue of $21,920 and in April 30, 2023 the Company gener
• $1,200 — the Company generated total revenue of $1,200. Expenses incurred were $29,780 during
• $29,780 — enue of $1,200. Expenses incurred were $29,780 during fiscal year ended April 30, 2024
• $27,302 — l year ended April 30, 2024 compared to $27,302 during fiscal year ended April 30, 2023
• $49,518 — f April 30, 2024, our total assets were $49,518 consisting of Mobile Application and We
• $55,016 — f April 30, 2023, our total assets were $55,016. Cash Flows from Operating Activities
• $25,027 — flows used in operating activities was $25,027. Cash Flows from Investing Activities
• $8,604 — flows used in investing activities was $8,604. Cash Flows from Financing Activities
• $2,362 — sh provided by financing activities was $2,362. For the fiscal year ended April 30, 20
• $36,943 — net cash from financing activities was $36,943. OFF-BALANCE SHEET ARRANGEMENTS We ha

Filing Documents

• natics_10k-043024.htm (10-K) — 443KB
• natics_ex3101.htm (EX-31.1) — 12KB
• natics_ex3201.htm (EX-32.1) — 5KB
• image_003.jpg (GRAPHIC) — 10KB
• 0001683168-24-003953.txt ( ) — 2161KB
• none-20240430.xsd (EX-101.SCH) — 16KB
• none-20240430_cal.xml (EX-101.CAL) — 25KB
• none-20240430_def.xml (EX-101.DEF) — 29KB
• none-20240430_lab.xml (EX-101.LAB) — 174KB
• none-20240430_pre.xml (EX-101.PRE) — 137KB
• natics_10k-043024_htm.xml (XML) — 164KB

Risk Factors

Risk Factors 1 ITEM 1B Unresolved Staff comments 1 ITEM 1C Cybersecurity 1 ITEM 2

Properties

Properties 1 ITEM 3

Legal Proceedings

Legal Proceedings 1 ITEM 4 Mine Safety Disclosures 1 PART II ITEM 5 Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 2 ITEM 6 [Reserved] 2 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 2 ITEM 7A

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 4 ITEM 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 4 ITEM 9 Changes In and Disagreements with Accountants on Accounting and Financial Disclosure 4 ITEM 9A

Controls and Procedures

Controls and Procedures 6 ITEM 9B Other Information 6 ITEM 9C Disclosure Regarding foreign Jurisdictions that Prevent Inspections PART III ITEM 10 Directors, Executive Officers, Promoters and Control Persons of the Company 7 ITEM 11

Executive Compensation

Executive Compensation 8 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 9 ITEM 13 Certain Relationships and Related Transactions 10 ITEM 14 Principal Accountant Fees and Services 11 PART IV ITEM 15 Exhibits 12 ITEM 16 Form 10-K Summary 12 i

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This annual report contains forward-looking statements. These statements relate to future events or our future financial performance. These statements often can be identified by the use of terms such as "may," "will," "expect," "believe," "anticipate," "estimate," "approximate" or "continue," or the negative thereof. We intend that such forward-looking statements be subject to the safe harbors for such date made. Any forward-looking statements represent management's best judgment as to what may occur in the future. However, forward-looking differ materially from historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events. ii PART I

Description of Business

Item 1. Description of Business GENERAL INFORMATION ABOUT OUR COMPANY Natics Corp. is a development stage company formed to commence operations concerned with online workouts. We were incorporated under the laws of the state of Wyoming on February 21, 2022. We are providing the useful healthy and effective type of online sport service, for adolescents and adults, for men and women available from anywhere using the phone and internet connection. Our online service provides a high quality sport trainings, through our mobile application "Sport Natics" for Android and iOS mobile OS. Our sport app offers a free trial and a paid one (depending on the content). The paid version of the app will include: – online video lesson with a trainer (where the trainer shows how to properly perform the exercises) - 1 hour – online video lesson with a trainer (where the trainer checks the correctness of the exercises through video communication) - 1 hour – personalized monthly program (depending on the client's requirement) – personal Nutrition diet plan (depending on the client's requirement) The links for the "Sport Natics" application: In Google Play - https://play.google.com/store/apps/details?id=com.sport.natics In App Store - https://apps.apple.com/ua/app/sport-natics/id1619622287 Our website address is https://sport-natics.com/ Our principal offices are located at App 6, Yehuda Gorodiski 1, Rehovot, Israel 7623101. Our telephone number is +13072220096.

Risk Factors

Item 1A. Risk Factors. Not required for Smaller reporting companies.

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments. Not required for Smaller reporting companies.

Cybersecurity

Item 1C. Cybersecurity. In 2024, we did not identify any cybersecurity threats that have materially affected or are reasonably likely to materially affect our business strategy, results of operations, or financial condition. However, despite our efforts, we cannot eliminate all risks from cybersecurity threats, or provide assurances that we have not experienced undetected cybersecurity incidents.

Properties

Item 2. Properties. Currently we don't own any properties. Our business office is located at App 6, Yehuda Gorodiski 1, Rehovot, Israel 7623101. This address was provided by sole officer and president, Guy Pirotsky. Our telephone number is +13072220096.

Legal Proceedings

Item 3. Legal Proceedings. We are not currently a party to any legal proceedings, and we are not aware of any pending or potential legal actions.

Mine Safety Disclosures

Item 4. Mine Safety Disclosures. Not Applicable. 1 PART II

Market for Registrant's Common

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities. The company stock is not trading at the moment. Registered Holders of our Common Stock As of April 30, 2024, there were approximately 37 record owners of our common stock including director. Dividends The Company has never declared or paid cash dividends on its common stock and does not anticipate paying cash dividends in the foreseeable future. Recent Sales of Unregistered Securities During our fiscal years ended April 30, 2024 and 2023, we had no sales of unregistered shares. Issuer Purchases of Equity Securities During the fiscal year ended April 30, 2024, and 2023 the Company did not repurchase any shares of its Common Stock.

Management's Discussion and Analysis

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations We are a development stage corporation with limited operations and revenues from our business operations. Our auditors have issued a going concern opinion. This means that our auditors believe there is substantial doubt that we can continue as an on-going business for the next twelve months. We do not anticipate that we will generate significant revenues until we have raised the funds necessary to conduct a marketing program. PLAN OF OPERATION FISCAL YEAR ENDED APRIL 30, 2024 COMPARED TO FISCAL YEAR ENDED APRIL 30, 2023. Our net loss for the fiscal year ended April 30, 2024 was $7,860 compared to a net loss of $26,102 during the fiscal year ended April 30, 2023. In April 30, 2024 we generated total revenue of $21,920 and in April 30, 2023 the Company generated total revenue of $1,200. Expenses incurred were $29,780 during fiscal year ended April 30, 2024 compared to $27,302 during fiscal year ended April 30, 2023. The number of shares outstanding was 5,495,300 for the fiscal year ended April 30, 2024 and 5,280,300 for the fiscal year ended April 30, 2023. 2 LIQUIDITY AND CAPITAL RESOURCES FISCAL YEAR ENDED April 30, 2024 and 2023. As of April 30, 2024, our total assets were $49,518 consisting of Mobile Application and Website Development and Issuances of Common Shares. As of April 30, 2023, our total assets were $55,016. Cash Flows from Operating Activities We have not generated positive cash flows from operating activities. For the fiscal year ended April 30, 2024, net cash flows used in operating activities was $7,860. For the fiscal year ended April 30, 2023, net cash flows used in operating activities was $25,027. Cash Flows from Investing Activities We have generated positive cash flows from investing activities. For the fiscal year ended April 30, 2024, net cash flows used in investing activities was $8,604. Cash Flows from Financing Activities

Quantitative and Qualitative Disclosures about Market Risk

Item 7A. Quantitative and Qualitative Disclosures about Market Risk Not applicable to smaller reporting companies.

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data The Company's Financial Statements required by Item 8, together with the reports thereon of the Independent Registered Public Accounting Firm are set forth on pages F-1 through F-12 of this report and are incorporated by reference in this Item 8.

Changes in and Disagreements with Accounting

Item 9. Changes in and Disagreements with Accounting and Financial Disclosures. None.

Controls and Procedures

Item 9A. Controls and Procedures. Disclosure Controls and Procedures Disclosure controls and procedures are designed to ensure that information required to be disclosed in the reports filed or submitted under the Exchange Act is recorded, processed, summarized and reported, within the time period specified in the SEC's rules and forms, and that such information is accumulated and communicated to management, including the CEO and CFO, as appropriate, to allow timely decisions regarding required disclosures. Our management necessarily applied its judgment in assessing the costs and benefits of such controls and procedures, which, by their nature, can provide only reasonable assurance regarding management's control objectives. Our management, with the participation of our CEO, evaluated the effectiveness of the design and operation of our disclosure controls and procedures as of the end of the period covered by this Report. Based upon this evaluation, our CEO concluded that our disclosure controls and procedures were not effective because of the identification of a material weakness in our internal control over financial reporting which is described below. 4 Management's Report on Internal Control Over Financial Reporting Our management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Exchange Rule 13a-15(f). Our internal control over financial reporting is a process designed to provide reasonable assurance to our management and board of directors regarding the reliability of financial reporting and the preparation of the financial statements for external purposes in accordance with U.S. GAAP. Our internal control over financial reporting includes those policies and procedures that (i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of our assets; (ii) provide reasonable assurance that transactions ar

Other Information

Item 9B. Other Information. During the year ended April 30, 2024, no director or officer of the Company adopted or terminated a "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement," as each term is defined in Item 408(a) of Regulation S-K.

Disclosures Regarding Foreign Jurisdictions

Item 9C. Disclosures Regarding Foreign Jurisdictions that Prevent Inspections. Not Applicable. 6 PART III

Directors, Executive Officers, and

Item 10. Directors, Executive Officers, and Corporate Governance. Directors of the corporation are elected by the stockholders to a term of 1 (one) year and serve until a successor is elected and qualified. Officers of the corporation are appointed by the Board of Directors to a term of one year and serves until a successor is duly appointed and qualified, or until he or she is removed from office. The Board of Directors has no nominating, auditing or compensation committees. Our executive officer and director, his name, age, and his positions as of the date of this prospectus are as follows: Name and Address of Executive Officer and/or Director Age Position Guy Pirotsky App 6, Yehuda Gorodiski 1, Rehovot, Israel 7623101 52 President, Secretary, Treasurer, Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer and Sole Director Resume Guy Pirotsky, Age 52 Guy Pirotsky has acted as our President, Secretary, Treasurer and sole Director since our incorporation on February 21, 2022. From September 2013, Mr. Pirotsky has been working as a self-employed Inventor and Project manager. From 2001 to 2011, he worked at Israel Strategy Runner as a Director, Product manager and GUI developer, Manager, SAS, SVM, Admin. From 2007 to present Mr. Pirotsky has been a successful investor in start-ups and public companies. He got the Bachelor degree of Computer Science and Statistics with honors in Bar-IIan University, Israel. Committees of the Board Our Company currently does not have nominating, compensation or audit committees or committees performing similar functions, nor does our Company have a written nominating, compensation or audit committee charter. Our director believes that it is not necessary to have such committees, at this time, because the functions of such committees can be adequately performed by the sole director. Our Company does not have any defined policy or procedural requirements for shareholders

Executive Compensation

Item 11. Executive Compensation. The table below summarizes the total compensation earned by each of our named executive Officers ("NEOs") for each of the fiscal years listed. 8 SUMMARY COMPENSATION TABLE Management Compensation The following tables set forth certain information about compensation paid, earned or accrued for services by our sole officer and director from April 30, 2023 until April 30, 2024: Name and Principal Position Years Salary ($) Bonus ($) Stock Awards ($) Option Awards ($) Non-Equity Incentive Plan Compensation ($) Nonqualified Deferred Compensation ($) All Other Compensation ($) Total ($) Guy Pirotsky, President, 2023 -0- -0- -0- -0- -0- -0- -0- -0- Treasurer, Secretary 2024 -0- -0- -0- -0- -0- -0- -0- -0- Compensation of Directors Directors are permitted to receive fixed fees and other compensation for their services as directors. The Board of Directors has the authority to fix the compensation of directors. No amounts have been paid to, or accrued to, our director in such capacity. Stock Plan We have not adopted a stock plan but may do so in the future. Director Independence Our securities are not currently traded on any public exchange and as such, we are not currently subject to corporate governance standards of listed companies, which require, among other things, that the majority of the board of directors be independent. We are not currently subject to corporate governance standards defining the independence of our directors, and we have chosen to define an "independent" director in accordance with the NASDAQ Global Market's requirements for independent directors. Under the NASDAQ rules, our current director does not qualify as an independent director.

Security Ownership of Certain Beneficial

Item 12. Security Ownership of Certain Beneficial

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT Directors and Executive Officers The following table sets forth the beneficial (ii) the current NEOs named in the "Summary Compensation Table" contained in this Form 10-K and (iii) all current directors and executive officers as a group. Except as otherwise indicated, we believe that the beneficial owners of the common stock listed below, based o

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