Next Meats Holdings, Inc. Files 10-Q/A Amendment No. 1 for Period Ended July 31, 2021

TL;DR

<b>Next Meats Holdings, Inc. filed an amended 10-Q for the period ending July 31, 2021, to adjust financial statements.</b>

AI Summary

Next Meats Holdings, Inc. (NXMH) filed a Amended Quarterly Report (10-Q/A) with the SEC on April 12, 2024. Amendment No. 1 to the Form 10-Q for the quarterly period ended July 31, 2021, has been filed. The original Form 10-Q was filed on September 27, 2021. This amendment includes adjustments to the financial statements and associated notes. The company's fiscal year ends on April 30. Next Meats Holdings, Inc. was formerly known as Turnkey Solutions, Inc., with a name change on May 7, 2020.

Why It Matters

For investors and stakeholders tracking Next Meats Holdings, Inc., this filing contains several important signals. This filing indicates a need for correction or clarification in the previously submitted financial data, potentially impacting investor understanding of the company's performance. The amendment suggests that the original financial reporting may have contained inaccuracies or required updates, necessitating a restatement for compliance and transparency.

Risk Assessment

Risk Level: low — Next Meats Holdings, Inc. shows low risk based on this filing. The filing is an amendment to a historical filing (2021) and does not contain new operational or financial data for the current period, thus posing minimal immediate risk.

Analyst Insight

Review the specific adjustments made in the amended financial statements to understand the nature of the corrections and their potential implications.

Key Numbers

• 2021-07-31 — Quarterly Period End Date (Form 10-Q/A)
• 2021-09-27 — Original Filing Date (Form 10-Q)
• 2020-05-07 — Name Change Date (Former Company Name)

Key Players & Entities

• Next Meats Holdings, Inc. (company) — Registrant name
• Turnkey Solutions, Inc. (company) — Former company name
• July 31, 2021 (date) — Quarterly period ended
• September 27, 2021 (date) — Original filing date
• April 30 (date) — Fiscal year end
• May 7, 2020 (date) — Date of name change

FAQ

Industry Context

The company operates in the food industry, specifically focusing on alternative meat products.

Regulatory Implications

Filings are made under the Securities Exchange Act of 1934, requiring regular reporting of financial information.

What Investors Should Do

1. Review the specific financial statement adjustments detailed in the amendment.
2. Compare the amended financial data with the original filing to identify discrepancies.
3. Assess the impact of these adjustments on the company's reported financial position and performance for the period.

Key Dates

• 2021-07-31: Quarterly Period End — Period covered by the amended 10-Q filing.
• 2021-09-27: Original 10-Q Filing Date — Date the initial Form 10-Q was filed.
• 2024-04-12: Amendment Filing Date — Date Amendment No. 1 was filed.

Year-Over-Year Comparison

This is an amendment to a 2021 filing, providing updated financial statements for that period rather than new information for the current reporting cycle.

Key Financial Figures

• $0.001 — he Registrant's common stock, par value $0.001 per share, issued and outstanding. As o
• $0 — lly owned subsidiary, at a valuation of $0. The $452,352 increase in the resulting
• $452,352 — d subsidiary, at a valuation of $0. The $452,352 increase in the resulting par value of

Filing Documents

• nxmh10q122a1o.htm (10-Q/A) — 296KB
• ex31nxmh.htm (EX-31) — 12KB
• ex32_nxmh.htm (EX-32) — 7KB
• 0001599916-24-000103.txt (&nbsp;) — 1456KB
• nxmh-20210731.xsd (EX-101.SCH) — 15KB
• nxmh-20210731_cal.xml (EX-101.CAL) — 10KB
• nxmh-20210731_def.xml (EX-101.DEF) — 19KB
• nxmh-20210731_lab.xml (EX-101.LAB) — 90KB
• nxmh-20210731_pre.xml (EX-101.PRE) — 75KB
• nxmh10q122a1o_htm.xml (XML) — 174KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION ITEM 1

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS F1 BALANCE SHEET as of JULY 31, 2021 (unaudited) and aPRIL 30, 2021 F1 OF OPERATIONS FOR THE THREE MONTHS ENDED JULY 31, 2021 AND JULY 31, 2020 (UnAUDITED) F2 OF CHANGES IN STOCKHOLDER'S (DEFICIT) FOR THE PERIOD MAY 1, 2021 TO JULY 31, 2021 AND FOR THE PERIOD MAY 1, 2020 TO JULY 31, 2020 (UNAUDITED) F3 OF CASH FLOWS FOR THE THREE MONTHS ENDED JULY 31, 2021 (uNAUDITED) F4 NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (uNAUDITED) F5-F6 ITEM 2

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND RESULTS OF OPERATIONS 3 ITEM 3

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 3 ITEM 4

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 4

-OTHER INFORMATION

PART II-OTHER INFORMATION ITEM 1

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 5 ITEM 1A

RISK FACTORS

RISK FACTORS ITEM 2 UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 5 ITEM 3 DEFAULTS UPON SENIOR SECURITIES 5 ITEM 4 MINE SAFETY DISCLOSURES 5 ITEM 5 OTHER INFORMATION 5 ITEM 6 EXHIBITS 5

SIGNATURES

SIGNATURES 6 -2- Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION ITEM 1

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS NEXT MEATS HOLDINGS, INC. RESTATED BALANCE SHEETS July 31, 2021 (Unaudited) April 30, 2021 Noncurrent Assets Stock $ 187,500 $ - TOTAL ASSETS $ 187,500 $ - LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities Accrued expenses $ 5,800 $ 9,700 Total Current Liabilities 5,800 9,700 TOTAL LIABILITIES 5,800 9,700 Stockholders' Equity (Deficit) Preferred Stock ($ 0.001 par value, 20,000,000 shares authorized and 0 shares issued and outstanding as of July 31, 2021 and April 30, 2021) - - Common stock ($ 0.001 par value, 500,000,000 shares authorized and 500,000,000 shares issued and outstanding as of July 31, 2021 and April 30, 2021) 500,000 500,000 Additional paid-in capital ( 263,359 ) ( 467,044 ) Accumulated deficit ( 54,941 ) ( 42,656 ) Total Stockholders' Equity (Deficit) 181,700 ( 9,700 ) TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT) $ 187,500 $ - The accompanying notes are an integral part of these unaudited financial statements. -F1- Table of Contents NEXT MEATS HOLDINGS, INC. RESTATED (UNAUDITED) For the Three Months Ended July 31, 2021 For the Three Months Ended July 31, 2020 Operating expenses General and administrative expenses $ 12,285 $ 1,850 Total operating expenses 12,285 1,850 Net loss $ ( 12,285 ) $ ( 1,850 ) Basic and Diluted net loss per common share $ ( 0.00 ) $ ( 0.00 ) Weighted average number of common shares outstanding - Basic and Diluted 500,000,000 10,000,000 The accompanying notes are an integral part of these unaudited financial statements. -F2- Table of Contents NEXT MEATS HOLDINGS, INC. RESTATED FOR THE PERIOD MAY 1, 2020 TO JULY 31, 2021 (UNAUDITED) Common Shares Par Value Common Shares Additional Paid-in Capital Accumulated Deficit Total Balances, April 30, 2021 500,000

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View this 10-Q/A filing on SEC EDGAR