Strategic Acquisitions Inc. Files Q2 2024 10-Q

TL;DR

Strategic Acquisitions Inc. filed its Q2 10-Q. All systems go.

AI Summary

Strategic Acquisitions Inc. /NV/ filed its 10-Q for the period ending June 30, 2024. The company, incorporated in Nevada, operates in the Real Estate & Construction sector. Its principal executive offices are located at 30 Broad Street, 14th Floor, New York, NY 10004.

Why It Matters

This filing provides investors with an update on the company's financial performance and operational status for the second quarter of 2024.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report and does not contain immediate red flags.

Key Numbers

• 20240630 — Period End Date (Quarterly report covers this period.)
• 20240812 — Filing Date (The date the report was submitted to the SEC.)

Key Players & Entities

• STRATEGIC ACQUISITIONS INC /NV/ (company) — Filer
• 0000847942 (company) — Central Index Key
• 6770 (company) — Standard Industrial Classification (Blank Checks)
• 133506506 (company) — IRS Number
• NV (company) — State of Incorporation
• 212-878-6532 (company) — Business Phone
• 30 BROAD STREET 14TH FLOOR NEW YORK NY 10004 (company) — Business Address

FAQ

Key Financial Figures

• $0.001 — ch Registered Common Stock, par value $0.001 STQN N/A Indicate by check mark i

Filing Documents

• form10-q.htm (10-Q) — 506KB
• ex31-1.htm (EX-31.1) — 17KB
• ex32-1.htm (EX-32.1) — 7KB
• 0001493152-24-031284.txt ( ) — 3161KB
• stqn-20240630.xsd (EX-101.SCH) — 30KB
• stqn-20240630_cal.xml (EX-101.CAL) — 38KB
• stqn-20240630_def.xml (EX-101.DEF) — 102KB
• stqn-20240630_lab.xml (EX-101.LAB) — 199KB
• stqn-20240630_pre.xml (EX-101.PRE) — 169KB
• form10-q_htm.xml (XML) — 410KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

— Financial Statements

ITEM 1 — Financial Statements 2 Balance Sheets 2 3 4 5

Notes to Financial Statements

Notes to Financial Statements 6

— Management's Discussion and Analysis of Financial Condition and Results of Operations

ITEM 2 — Management's Discussion and Analysis of Financial Condition and Results of Operations 16

— Controls and Procedures

ITEM 4 — Controls and Procedures 18

— OTHER INFORMATION

PART II — OTHER INFORMATION

— Legal Proceedings

ITEM 1 — Legal Proceedings 20

— Unregistered Sales of Equity Securities and Use of Proceeds

ITEM 2 — Unregistered Sales of Equity Securities and Use of Proceeds 20

— Other Information

ITEM 5 — Other Information 20

— Exhibits

ITEM 6 — Exhibits 20

SIGNATURES

SIGNATURES 21 1 PART I – FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS STRATEGIC ACQUISITIONS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS June 30, December 31, 2024 2023 (Unaudited) Assets Cash $ 9,900 $ 54,169 Collateral receivable due from lender 6,267,810 4,230,078 Loan receivable 1,374,691 1,374,691 Accrued interest receivable 11,456 11,456 Prepaid expenses 2,080 1,946 Total assets $ 7,665,937 $ 5,672,340 Liabilities and shareholders' equity (deficit) Liabilities Accounts payable and accrued expenses $ 17,491 $ 12,260 Due to related party (noninterest bearing, due on demand) 15,620 2,500 Note payable, net of unamortized origination fee of $ 289 and $ 3,761 1,388,287 1,384,815 Digital asset collateral due to customer 6,267,810 4,230,078 Total liabilities 7,689,208 5,629,653 Shareholders' Equity Common stock, $ 0.001 par value; 50,000,000 shares authorized; 6,675,000 shares issued and outstanding as of June 30, 2024 and December 31, 2023 6,675 6,675 Additional paid-in capital 353,736 353,736 Accumulated deficit ( 383,682 ) ( 317,724 ) Total shareholders' equity (deficit) ( 23,271 ) 42,687 Total liabilities and shareholders' equity (deficit) $ 7,665,937 $ 5,672,340 The accompanying notes are an integral part of these condensed consolidated financial statements 2 STRATEGIC ACQUISITIONS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Three Months Ended June 30, 2024 Three Months Ended June 30, 2023 Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 (As restated - Note 11) (As restated - Note 11) Revenues Loan administrative service fees $ - $ - $ - $ 3,950 Interest income 13,747 13,747 27,494 27,494 Total revenues 13,747 13,747 27,494 31,444 Operating expenses Selling, general and administrative expenses 25,842 33,053 72,624 98,337 Total operating expenses 25,842 33,053 72,624 98,337 Loss

View Full Filing

View this 10-Q filing on SEC EDGAR