Rapid Line Inc. Files 2024 Annual Report on Form 10-K

TL;DR

<b>Rapid Line Inc. has filed its annual 10-K report for the fiscal year ending January 31, 2024, detailing its corporate information and financial reporting.</b>

AI Summary

Rapid Line Inc. (RPDL) filed a Annual Report (10-K) with the SEC on April 10, 2024. Rapid Line Inc. filed its annual report on Form 10-K for the fiscal year ended January 31, 2024. The company is incorporated in Wyoming and its primary SIC code is 8200 (Educational Services). The principal executive offices are located at Gieldowa 4A, Warsaw, Poland. The filing was made on April 10, 2024. The SEC file number for the company is 333-263739.

Why It Matters

For investors and stakeholders tracking Rapid Line Inc., this filing contains several important signals. This filing provides a comprehensive overview of Rapid Line Inc.'s financial performance and operational status for the fiscal year 2024, which is crucial for investors to assess the company's health and future prospects. As a 10-K filing, it contains audited financial statements and detailed disclosures required by the SEC, offering transparency into the company's business, risks, and management discussion.

Risk Assessment

Risk Level: low — Rapid Line Inc. shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate, significant financial or operational disclosures that would alter the risk profile based solely on the header information.

Analyst Insight

Review the full 10-K filing for detailed financial statements, management's discussion and analysis, and risk factors to understand Rapid Line Inc.'s performance and outlook.

Key Numbers

• 2024-01-31 — Fiscal Year End (Reported fiscal year end)
• 2024-04-10 — Filing Date (Date the 10-K was filed)
• 8200 — SIC Code (Primary Standard Industrial Classification)
• 333-263739 — Commission File Number (SEC file number)

Key Players & Entities

• Rapid Line Inc. (company) — Filer name
• Wyoming (location) — State of incorporation
• 8200 (industry_code) — Primary Standard Industrial Classification Number
• Gieldowa 4A, Warsaw (location) — Registrant's principal executive offices address
• April 10, 2024 (date) — Filing date
• January 31, 2024 (date) — Fiscal year end
• 333-263739 (filing_id) — Commission File Number

FAQ

Industry Context

The company operates within the Educational Services sector (SIC 8200). This sector encompasses institutions and organizations providing educational instruction and related services.

Regulatory Implications

As a public company, Rapid Line Inc. is subject to the reporting requirements of the Securities Exchange Act of 1934, including the annual filing of Form 10-K.

What Investors Should Do

1. Analyze the detailed financial statements within the 10-K to understand revenue, expenses, and profitability.
2. Review the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' section for insights into business performance drivers.
3. Examine the 'Risk Factors' section to identify potential challenges and uncertainties facing the company.

Key Dates

• 2024-01-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-04-10: Filing Date — Date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year ending January 31, 2024, following the company's previous filings.

Key Financial Figures

• $0.0001 — as of January 31, 2024 Common Stock: $0.0001 3,632,750 TABLE OF CONTENTS PART 1
• $40,247 — fiscal year ended January 31, 2024 was $40,247 compared to a net loss of $22,190 durin
• $22,190 — 4 was $40,247 compared to a net loss of $22,190 during the fiscal year ended January 31
• $7,800 — 31, 2024 we generated total revenue of $7,800 and in January 31, 2023 we generated to
• $6,300 — 31, 2023 we generated total revenue of $6,300. Expenses incurred were $48,047 during
• $48,047 — enue of $6,300. Expenses incurred were $48,047 during fiscal year ended January 31, 20
• $28,490 — year ended January 31, 2024 compared to $28,490 during fiscal year ended January 31, 20
• $28,761 — January 31, 2024, our total assets were $28,761 consisting of Mobile Application and We
• $57,208 — January 31, 2023, our total assets were $57,208. Cash Flows from Operating Activities
• $26,317 — flows used in operating activities was $26,317. For the fiscal year ended January 31,
• $11,581 — flows used in operating activities was $11,581. 3 Cash Flows from Financing Activit
• $7,700 — sh provided by financing activities was $7,700. For the fiscal year ended January 31,
• $34,599 — net cash from financing activities was $34,599. OFF-BALANCE SHEET ARRANGEMENTS We ha

Filing Documents

• rapidline_i10k-013124.htm (10-K) — 354KB
• rapidline_ex3101.htm (EX-31.1) — 12KB
• rapidline_ex3201.htm (EX-32.1) — 4KB
• image_001.jpg (GRAPHIC) — 15KB
• 0001683168-24-002272.txt (&nbsp;) — 2047KB
• none-20240131.xsd (EX-101.SCH) — 18KB
• none-20240131_cal.xml (EX-101.CAL) — 25KB
• none-20240131_def.xml (EX-101.DEF) — 32KB
• none-20240131_lab.xml (EX-101.LAB) — 177KB
• none-20240131_pre.xml (EX-101.PRE) — 139KB
• rapidline_i10k-013124_htm.xml (XML) — 139KB

Risk Factors

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

Properties

Properties 2 ITEM 3

Legal Proceedings

Legal Proceedings 2 ITEM 4 Mine Safety Disclosures 2 PART II ITEM 5 Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 3 ITEM 6 [Reserved] 3 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 3 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 5 ITEM 9B Other Information 6 ITEM 9C Disclosure Regarding foreign Jurisdictions that Prevent Inspections 6 PART III ITEM 10 Directors, Executive Officers, Promoters and Control Persons of the Company 7 ITEM 11

Executive Compensation

Executive Compensation 9 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 10 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 Rapid Line Inc. is a development stage company formed to commence operations concerned with online education. We were incorporated under the laws of the state of Wyoming on January 10, 2022. We are providing the useful and effective type of online learning service, additional play-based studying in a form of quiz tool according to a school program available from anywhere using the phone and internet connection. Our online service provides a high quality, fundamental, comprehensive additional education through our mobile application "KIDWIN" for Android and iOS mobile OS. We are offering our services to the children and their parents in Poland and in future in some other European countries on different languages. We offer play-based studying that address the educational and personal development to the children from 7 to 16 years old through purposeful quizzes. Our future consumers require a mobile phone and internet connection to use our services. Our education app will seek to develop the knowledge of our young consumers primarily in school program according to their age and grade in the following 10 subjects: Astronomy; Biology: anatomy, cell and molecular biology, microbiology, genetics, zoology; Chemistry: organic, inorganic, physical and biochemistry; Geography: physical, environmental and political; History; Informatics; Logics; Mathematics: algebra, geometry, calculus, statistics; Physics: thermodynamics and statistical mechanics, quantum mechanics, atomic physics, molecular physics etc.; Religious studies. The links for the KID WIN application: In Google Play - https://play.google.com/store/apps/details?id=com.kidwin In App Store - https://apps.apple.com/app/kid-win/id1607338471 Our website address is https://kid-win.com/ Our executive and business office is located at Gieldowa 4A, Warsaw 01-211, Poland, and our telephone number is +48222196622.

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. 1

Properties

Item 2. Properties. Currently we don't own any properties. Our business office is located at Gieldowa 4A, Warsaw 01-211, Poland. This address was provided by sole officer and president, Wiktor Moroz. Our telephone number is +48222196622.

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. 2 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 January 31, 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 January 31, 2024 and 2023, we had no sales of unregistered shares. Issuer Purchases of Equity Securities During the fiscal year ended January 31, 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 JANUARY 31, 2024 COMPARED TO FISCAL YEAR ENDED JANUARY 31, 2023. Our net loss for the fiscal year ended January 31, 2024 was $40,247 compared to a net loss of $22,190 during the fiscal year ended January 31, 2023. In January 31, 2024 we generated total revenue of $7,800 and in January 31, 2023 we generated total revenue of $6,300. Expenses incurred were $48,047 during fiscal year ended January 31, 2024 compared to $28,490 during fiscal year ended January 31, 2023. The number of shares outstanding was 3,632,750 for the fiscal year ended January 31, 2024 and 3,567,750 for the fiscal year ended January 31, 2023. LIQUIDITY AND CAPITAL RESOURCES FISCAL YEAR ENDED January 31, 2024 and 2023. As of January 31, 2024, our total assets were $28,761 consisting of Mobile Application and Website Development and Accumulated amortization and Prepaid Expenses and Issuances of Common Shares. As of January 31, 2023, our total assets were $57,208. Cash Flows from Operating Activities We have not generated positive cash flows from operating activities. For the fiscal year ended January 31, 2024, net cash flows used in operating activities was $26,317. For the fiscal year ended January 31, 2023, net cash flows used in operating activities was $11,581. 3 Cash Flows from Financing Activities We have financed our operations primarily from either advances from our sole executive or the issuance of equity. For the fiscal ye

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-9 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. 4

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. 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 are re

Other Information

Item 9B. Other Information. During the year ended January 31, 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 Wiktor Moroz Gieldowa 4, Warsaw 01-211, Poland 46 President, Secretary, Treasurer, Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer and Sole Director Wiktor Moroz has been holding the above stated positions since the inception of the Rapid Line Inc. and is expected to hold them until the next annual meeting of our stockholders. Thereby, Mr. Wiktor Moroz is currently the Sole officer and Director and control person of Rapid Line Inc. Resume Wiktor Moroz, Age 46 Mr. Wiktor Moroz has served as the Company's President, CEO, Secretary, Treasurer and a Director since its incorporation on January 10, 2022. He has got the degree in Business Administration. 2004 - 2021 - worked in diverse roles as a self employed who provided business consulting services across the Europe. Mostly he served as a consultant. Among related branches were: marketing, sales and advertising. While collaborating with business owners he: developed detailed business plans developed and implemented promotional campaigns met with clients to perform assessments organized and assigned business projects developed and implemented an ongoing companies budget standardized and streamlined clients businesses functions collaborated with members of the analyst teams to create projec

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. 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 as of Janu

View Full Filing

View this 10-K filing on SEC EDGAR