James Maritime Holdings Files 2023 10-K/A Amendment

TL;DR

James Maritime Holdings filed its 2023 10-K/A, showing $90M revenue and $9M net income. Check for updates.

AI Summary

James Maritime Holdings Inc. filed a 10-K/A amendment for the fiscal year ending December 31, 2023. The company, formerly known as Out-Takes, Inc., is incorporated in Nevada and operates in personal services. The filing includes financial data such as revenue and expenses, with specific figures like $90,000,000 in revenue and $9,064,129 in net income for 2023.

Why It Matters

This amended filing provides updated financial details for James Maritime Holdings Inc., offering investors and analysts a clearer picture of the company's performance and financial position for the 2023 fiscal year.

Risk Assessment

Risk Level: low — The filing is an amendment to a standard annual report, indicating routine updates rather than significant new risks.

Key Numbers

• $90.0B — Revenue (Total revenue for the fiscal year ending December 31, 2023.)
• $9.06M — Net Income (Net income for the fiscal year ending December 31, 2023.)
• $2.0M — Total Assets (Total assets reported in the filing.)

Key Players & Entities

• James Maritime Holdings Inc. (company) — Filer
• Out-Takes, Inc. (company) — Former company name
• 90000000 (dollar_amount) — Revenue for FY 2023
• 9064129 (dollar_amount) — Net income for FY 2023
• 20231231 (date) — Fiscal year end

FAQ

Key Financial Figures

• $0.001 — g) of the Act: Common Stock, par value $0.001 per share Indicate by check mark if t
• $25,000 — part of the agreement Mr. Hall received $25,000 and 300,000 post-split common restricte
• $36,000 — pany (issued March 31, 2015), valued at $36,000 giving him control of the Company. On
• $782,000,000,000 — its National Security Budget by 5.6% to $782,000,000,000 for Fiscal Year 2022 and approved $813,
• $813,300,000,000 — 0,000 for Fiscal Year 2022 and approved $813,300,000,000 for Fiscal Year 2023 representing an ad
• $40,000,000,000 — 2, was approved providing an additional $40,000,000,000 to help support the Ukraine. Meanwhile,
• $188,990,000,000 — xpected to grow in size from a value of $188,990,000,000 in 2022 to $275,500,000,000 by 2028 rep
• $275,500,000,000 b — a value of $188,990,000,000 in 2022 to $275,500,000,000 by 2028 representing a compound annual gr

Filing Documents

• jmtm_10ka.htm (10-K/A) — 978KB
• jmtm_ex311.htm (EX-31.1) — 14KB
• jmtm_ex312.htm (EX-31.2) — 14KB
• jmtm_ex321.htm (EX-32.1) — 6KB
• jmtm_ex322.htm (EX-32.2) — 5KB
• jmtm_10kimg4.jpg (GRAPHIC) — 10KB
• jmtm_10kimg7.jpg (GRAPHIC) — 2KB
• jmtm_10kimg6.jpg (GRAPHIC) — 4KB
• jmtm_10kimg5.jpg (GRAPHIC) — 9KB
• jmtm_10kimg1.jpg (GRAPHIC) — 22KB
• jmtm_10kimg10.jpg (GRAPHIC) — 1KB
• jmtm_10kimg2.jpg (GRAPHIC) — 5KB
• jmtm_10kimg3.jpg (GRAPHIC) — 9KB
• 0001096906-24-001437.txt ( ) — 5212KB
• jmtm-20231231.xsd (EX-101.SCH) — 56KB
• jmtm-20231231_lab.xml (EX-101.LAB) — 315KB
• jmtm-20231231_cal.xml (EX-101.CAL) — 54KB
• jmtm-20231231_pre.xml (EX-101.PRE) — 268KB
• jmtm-20231231_def.xml (EX-101.DEF) — 127KB
• jmtm_10ka_htm.xml (XML) — 628KB

Business

Business 4 Item 1A

Risk Factors

Risk Factors 11 Item 1B Unresolved Staff Comments 11 Item 2

Properties

Properties 11 Item 3

Legal Proceedings

Legal Proceedings 11 Item 4 Mine Safety Disclosures 11 PART II Item 5 Market for Registrant's Common Equity and Related Stockholder Matters 12 Item 6 [RESERVED] 14 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 14 Item 7A Quantitative and Qualitative Disclosure about Market Risk 17 Item 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data F-1 Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosures 18 Item 9A

Controls and Procedures

Controls and Procedures 18 Item 9B Other Information 19 Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 19 PART III Item 10 Directors, Executive Officers of the Registrant 20 Item 11

Executive Compensation

Executive Compensation 22 Item 12

Security Ownership of Certain Beneficial Holders and Management

Security Ownership of Certain Beneficial Holders and Management 24 Item 13 Certain Relationships and Related Transactions 25 Item 14 Principal Accountant Fees and Services 25 PART IV Item 15 Exhibits, Financial Statement Schedules 26

Signatures

Signatures 27 2 Table of Contents

Forward-Looking Statements

Forward-Looking Statements This annual report contains forward-looking statements and information relating to us that are based on the beliefs of our management as well as assumptions made by, and information currently available to, our management. When used in this report, the words "believe," "anticipate," "expect," "will," "estimate," "intend", "plan" and similar expressions, as they relate to us or our management, are intended to identify forward-looking statements. Although we believe that the plans, objectives, expectations and prospects reflected in or suggested by our forward-looking statements are reasonable, those statements involve risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements, and we can give no assurance that our plans, objectives, expectations and prospects will be achieved. Important factors that might cause our actual results to differ materially from the results contemplated by the forward-looking statements are contained in the "Risk Factors" section of and elsewhere in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. The terms "JMTM," "we," "us," "our," and the "Company" refer to James Maritime Holdings Inc. 3 Table of Contents PART I

Business

Item 1. Business. Overview James Maritime Holdings Inc., a Nevada corporation ("James Maritime") conducts substantially all of the Company's business through its subsidiaries, its majority-owned subsidiary, Gladiator Solutions Inc. ("Gladiator"), and its wholly owned subsidiary United Security Specialists Inc. ("USS") (James Maritime, Gladiator and USS shall be referred to collectively as the "Company"). Gladiator produces revenues through the distribution of personal protective products, primarily through mail-in orders to customers or via e-commerce sales generated through their website. USS provides professional security personnel enhanced by smartphone-based security applications. Both Gladiator and USS are based in California. Our Company James Maritime has a long history operating in the U.S. public markets. The Company was originally incorporated under the laws of the State of Delaware on March 18, 1992 as Out Takes, Inc. Through Los Alamos Energy, LLC, the Company operated a waste gas electricity plant in Los Alamos, California, which was acquired from American Cogenics in 1996. Due to uncertainties arising from PG&E's bankruptcy, Los Alamos Energy elected to terminate its contract with PG&E, and instead entered into a Participating Generator Agreement with the California Independent System Operator ("ISO). Despite its best efforts to adjust to the turbulent California energy markets, the Company was unable to sustain its operations and shut its power plant down in November 2001 because it did not have capital available for the plant maintenance that was required for continued operations. In 2002, because the power plant was inoperable, management began searching for potential merger and combination opportunities, with no success. After the power industry somewhat stabilized in California, the Company entered into a new power purchase agreement with PG&E and attempted to recommence operations. In order to recommence power operations, the Company had

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View this 10-K/A filing on SEC EDGAR