TRANSUITE.ORG INC. Files 2023 Annual Report on Form 10-K

TL;DR

<b>TRANSUITE.ORG INC. has filed its 2023 Form 10-K detailing its annual performance and corporate information.</b>

AI Summary

TRANSUITE.ORG INC. (TRSO) filed a Annual Report (10-K) with the SEC on March 14, 2024. The company filed its annual report on Form 10-K for the fiscal year ended November 30, 2023. The report covers the period from December 1, 2022, to November 30, 2023. TRANSUITE.ORG INC. is incorporated in Nevada and its principal executive office is located in Warsaw, Poland. The company's SIC code is 7370 for Services-Computer Programming, Data Processing, etc. No securities are registered under Section 12(b) of the Exchange Act, and none are registered under Section 12(g).

Why It Matters

For investors and stakeholders tracking TRANSUITE.ORG INC., this filing contains several important signals. This filing provides a comprehensive overview of the company's financial health and operational status for the fiscal year 2023, crucial for investors assessing its performance. As a 10-K filing, it contains audited financial statements and management's discussion and analysis, offering deep insights into the company's business and risks.

Risk Assessment

Risk Level: low — TRANSUITE.ORG INC. shows low risk based on this filing. The company has not registered any securities under Section 12(b) or 12(g) of the Exchange Act, indicating a limited public trading profile and potentially lower regulatory scrutiny but also less investor accessibility.

Analyst Insight

Investors should review the full 10-K filing for detailed financial statements and management's discussion to understand TRANSUITE.ORG INC.'s operational performance and future outlook.

Key Numbers

• 2023-11-30 — Fiscal Year End (Fiscal year ended November 30, 2023)
• 2024-03-14 — Filing Date (Date the 10-K was filed)
• 2022-12-01 — Reporting Period Start (Start of the reporting period)
• 2023-11-30 — Reporting Period End (End of the reporting period)

Key Players & Entities

• TRANSUITE.ORG INC. (company) — Registrant name
• Michal Wisniewski (person) — Registrant's principal executive office contact
• Nevada (jurisdiction) — State of incorporation
• Warsaw (location) — Business and mailing address city
• 02-001 (postal_code) — Business and mailing address zip code
• 48732100862 (phone_number) — Business phone number
• 7370 (sic_code) — Primary Standard Industrial Classification Code
• 30-1129581 (irs_number) — IRS Employer Identification Number

FAQ

Risk Factors

• Lack of Registered Securities [low — regulatory]: The company has not registered any securities under Section 12(b) or 12(g) of the Exchange Act, which may limit public trading and investor access.

Key Dates

• 2023-11-30: Fiscal Year End — Marks the end of the reporting period for the 10-K filing.
• 2024-03-14: 10-K Filing Date — Date TRANSUITE.ORG INC. submitted its annual report.

Key Financial Figures

• $5.00 — ty that has a market price of less than $5.00 per share. 6 Under the penny stock
• $1,000,000 — individual with net worth in excess of $1,000,000 or an annual income exceeding $200,000,
• $200,000 — 1,000,000 or an annual income exceeding $200,000, or $300,000 together with his or her s
• $300,000 — an annual income exceeding $200,000, or $300,000 together with his or her spouse) must m
• $59,003 — and 2022, we generated total revenue of $59,003 and $10,909 respectively. Operating ex
• $10,909 — generated total revenue of $59,003 and $10,909 respectively. Operating expenses Tot
• $48,045 — s ended November 30, 2023 and 2022 were $48,045 and $36,501. The operating expenses for
• $36,501 — mber 30, 2023 and 2022 were $48,045 and $36,501. The operating expenses for the years e
• $18,632 — 0, 2023 and 2022 included Audit Fees of $18,632 and $16,500; Bank Service Charges of $2
• $16,500 — 2022 included Audit Fees of $18,632 and $16,500; Bank Service Charges of $249 and $813;
• $249 — 32 and $16,500; Bank Service Charges of $249 and $813; Server Expense of $8,037 and
• $813 — 6,500; Bank Service Charges of $249 and $813; Server Expense of $8,037 and $0; Profe
• $8,037 — ges of $249 and $813; Server Expense of $8,037 and $0; Professional Fees of $11,696 an
• $0 — and $813; Server Expense of $8,037 and $0; Professional Fees of $11,696 and $13,9
• $11,696 — of $8,037 and $0; Professional Fees of $11,696 and $13,981; Business licenses and perm

Filing Documents

• trso_10k30nov2023.htm (10-K) — 282KB
• ex31.htm (EX-31.1) — 13KB
• ex32.htm (EX-32.1) — 7KB
• 0001758699-24-000012.txt (&nbsp;) — 1621KB
• trso-20231130.xsd (EX-101.SCH) — 13KB
• trso-20231130_cal.xml (EX-101.CAL) — 15KB
• trso-20231130_def.xml (EX-101.DEF) — 15KB
• trso-20231130_lab.xml (EX-101.LAB) — 121KB
• trso-20231130_pre.xml (EX-101.PRE) — 90KB
• trso_10k30nov2023_htm.xml (XML) — 125KB

Selected Financial Data

Selected Financial Data. 8 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. 8 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 8 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data. 9 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure. 20 Item 9A.

Controls and Procedures

Controls and Procedures 20 Item 9B. Other Information. 22 PART III Item 10 Directors, Executive Officers, Promoters and Control Persons of the Company. 22 Item 11.

Executive Compensation

Executive Compensation. 23 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. 23 Item 13. Certain Relationships and Related Transactions, and Director Independence. 24 Item 14. Principal Accounting Fees and Services. 24 PART IV Item 15. Exhibits 24

Signatures

Signatures 25 3 PART I

Description of Business

Item 1. Description of Business DESCRIPTION OF BUSINESS Overview Transuite.Org Inc. is an online translation service that offers high-quality professional translation services in a set of foreign languages. Our service is available worldwide, allowing us to cater to the needs of both individuals and businesses across various industries. We offer a platform, providing a cloud-based place accessible through a web browser on any device. The platform enables online translation services in English, Spanish, French, German, Greek, Japanese, Italian, Chinese, Polish, Turkish, Swedish, Indonesian, Vietnamese, and Thai. Our website, http://transuite.org, features a user-friendly interface for placing translation orders, making it easy to find available translation services based on a user's request and receive them when needed. At Transuite.Org Inc., we strive to make translation services more accessible, efficient, and capable of meeting the demand for quality online translation services. Our plan is to expand the platform to allow end-users to connect with freelance translators, facilitating discussions on suitable collaboration conditions and accessing appropriate services. Our mission is to empower freelance translators to build their portfolios, expand their networks, and connect with potential clients through our platform. Our Website Our platform can be accessed at http://transuite.org. Strategy Transuite.Org Inc. aims to address two main objectives: meeting the increasing demand for high-quality online translations across various industries and global individuals. Additionally, the company seeks to offer freelance translators a reliable platform to connect with new clients and expand their professional networks. To achieve these goals, we are dedicated to expanding our platform for regular users and small businesses, offering a cloud-based marketplace accessible through any web browser on any device. This expansion will facilitate direct connections betw

Risk Factors

Item 1A. Risk Factors Not applicable to smaller reporting companies.

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments Not applicable to smaller reporting companies.

Description of Property

Item 2. Description of Property Our executive and administrative office is located at Al. Jerozolimskie 85 lok. 21,02-001 Warsaw, Poland. The space is adequate for our needs.

Legal Proceedings

Item 3. Legal Proceedings We know of no legal proceedings to which we are a party or to which any of our property is the subject which are pending, threatened or contemplated or any unsatisfied judgments against us.

Mine Safety Disclosures

Item 4. Mine Safety Disclosures Not applicable. PART II

Market for Common Equity and Related Stockholder Matters

Item 5. Market for Common Equity and Related Stockholder Matters MARKET INFORMATION TRANSUITE.ORG Inc.'s common stock is traded on the OTC Markets. Effective March 29, 2023, common stock began trading under the ticker symbol TRSO. In 2024, we plan to have the shares quoted on the OTCQB tier of the OTC Markets operated by the OTC Markets Group, Inc. There is no assurance that the shares will ever be quoted on the OTCQB. To be quoted on the OTCQB, a market maker must apply to make a market in our common stock. As of the date of this prospectus, we have not made any arrangement with any market makers to quote our shares. Even if our common stock is ultimately quoted on the OTCQB, a purchaser of our common stock may not be able to resell their shares. Broker-dealers may be discouraged from effecting transactions in our common stock because they will be considered penny stocks and will be subject to the penny stock rules: Rules 15g-1 through 15g-9 promulgated under the Exchange Act which imposes sales practice and disclosure requirements on FINRA broker-dealers who make a market in a "penny stock." A penny stock generally includes any non-NASDAQ equity security that has a market price of less than $5.00 per share. 6 Under the penny stock regulations, a broker-dealer selling penny stock to anyone other than an established customer or "accredited investor" (generally, an individual with net worth in excess of $1,000,000 or an annual income exceeding $200,000, or $300,000 together with his or her spouse) must make a special suitability determination for the purchaser and must receive the purchaser's written consent to the transaction prior to sale, unless the broker-dealer or the transactions is otherwise exempt. In addition, the penny stock regulations require the broker-dealer to deliver, prior to any transaction involving a penny stock, a disclosure schedule prepared by the Commission relating to the penny stock market, unless the broker-dealer or the trans

Selected Financial Data

Item 6. Selected Financial Data Not applicable to smaller reporting companies .

Management's Discussion and Analysis of

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations Results of Operations for the years ended November 30, 2023 and 2022: Revenue For the years ended November 30, 2023, and 2022, we generated total revenue of $59,003 and $10,909 respectively. Operating expenses Total operating expenses for the years ended November 30, 2023 and 2022 were $48,045 and $36,501. The operating expenses for the years ended November 30, 2023 and 2022 included Audit Fees of $18,632 and $16,500; Bank Service Charges of $249 and $813; Server Expense of $8,037 and $0; Professional Fees of $11,696 and $13,981; Business licenses and permits of $650 and $650; Depreciation Expense of $8,781 and $1,042; Advertising and promotion expense of $0 and $3,150. Net Loss Our net loss for the years ended November 30, 2023, and 2022, was $14,819 and $30,588, respectively. Liquidity and Capital Resources and Cash Requirements As of November 30, 2023, and 2022, the Company had cash of $10,815 and $37. Furthermore, the Company had a working capital deficit of $87,993 as of November 30, 2023 and $65,632 as of November 30, 2022. During the year ended November 30, 2023, the Company used $114,334 of cash in operating activities due to its net loss $14,819 and an increase in prepaid expenses of $123,483. During the year ended November 30, 2022, the Company used $17,960 of cash in operating activities due to its net loss $30,588. OFF BALANCE SHEET ARRANGEMENTS We have no off-balance sheet arrangements including arrangements that would affect our liquidity, capital resources, market risk support and credit risk support or other benefits.

Quantitative and Qualitative Disclosures

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

Financial Statements and Supplementary

Item 8. Financial Statements and Supplementary Data 8 TRANSUITE.ORG INC.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS TABLE OF CONTENTS Report of Independent Registered Public Accounting Firm (PCAOB ID: 6258 ) 10 Balance Sheets as of November 30, 2023 and 2022 11 12 13 14 Notes to the Financial Statements 15 9 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM Board of Directors and Shareholders Transuite.org Inc. Opinion on the Financial Statements We have audited the accompanying balance sheets of Transuite.org Inc. as of November 30, 2023 and 2022, and the related statements of operations, changes in stockholders' equity (deficit), and cash flows for the year then ended, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of Transuite.org Inc. as of November 30, 2023 and 2022, and the results of its operations and its cash flows for each of the two years then ended November 30, 2023, in conformity with accounting principles generally accepted in the United States of America. Going Concern The accompanying financial statements have been prepared assuming that the entity will continue as a going concern. As discussed in Note 2 to the financial statements, the entity has suffered recurring losses from operations and has a net capital deficiency that raise substantial doubt about its ability to continue as a going concern. Management's plans in regard to these matters are also described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Basis for Opinion These financial statements are the responsibility of the entity's management. Our responsibility is to express an opinion on the

financial statements

financial statements 11 TRANSUITE.ORG INC. For the years ended November 30, 2023 and 2022 Year ended November 30, 2023 Year ended November 30, 2022 REVENUES $ 59,003 $ 10,909 Cost of sales 20,100 2,000 GROSS PROFIT 38,903 8,909 OPERATING EXPENSES General and administrative expenses 48,045 36,501 TOTAL OPERATING EXPENSES 48,045 36,501 LOSS FROM OPERATIONS ( 9,142 ) ( 27,592 ) OTHER EXPENSE Interest expense 5,677 2,996 TOTAL OTHER EXPENSE ( 5,677 ) ( 2,996 ) NET LOSS BEFORE TAXES ( 14,819 ) ( 30,588 ) Provision for taxes - - NET LOSS $ ( 14,819 ) $ ( 30,588 ) NET LOSS PER SHARE $ ( 0.00 ) $ ( 0.01 ) WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED 4,046,760 4,003,768 The accompanying notes are an integral part of the

financial statements

financial statements 12 TRANSUITE.ORG INC. (Deficit) For the years ended November 30, 2023 and 2022 Common Stock Additional Paid-in-Capital Accumulated Deficit Total Shares Amount Balance at November 30, 2021 3,088,800 $ 3,089 $ 4,163 $ ( 27,782 ) $ ( 20,530 ) Sales of common stock at $0.025 per share 957,960 958 22,990 23,948 Imputed interest - - 2,996 - 2,996 Net loss - - - ( 30,588 ) ( 30,588 ) Balance at November 30, 2022 4,046,760 $ 4,047 $ 30,149 $ ( 58,370 ) $ ( 24,174 ) Imputed interest - - 5,677 - 5,677 Net loss - - - ( 14,819 ) ( 14,819 ) Balance at November 30, 2023 4,046,760 $ 4,047 $ 35,826 $ ( 73,189 ) $ ( 33,316 ) The accompanying notes are an integral part of the

financial statements

financial statements 13 TRANSUITE.ORG INC. For the years ended November 30, 2023 and 2022 Year ended November 30, 2023 Year ended November 30, 2022 OPERATING ACTIVITIES Net Income $ ( 14,819 ) $ ( 30,588 ) Adjustments to reconcile net loss to net cash from operating activities: Amortization expense 8,781 1,042 Imputed interest 5,677 2,996 Changes in operating assets and liabilities: Prepaid expenses ( 123,483 ) - Accounts payable 9,510 8,590 NET CASH USED IN OPERATING ACTIVITIES ( 114,334 ) ( 17,960 ) INVESTING ACTIVITIES Purchase of intangible assets ( 22,000 ) ( 42,500 ) NET CASH USED IN INVESTING ACTIVITIES ( 22,000 ) ( 42,500 ) FINANCING ACTIVITIES Proceeds from convertible note payable 153,520 - Proceeds from share issuance - 23,948 Proceeds from loan payable – related party 24,086 30,695 Repayments of loan payable – related party ( 30,494 ) - NET CASH PROVIDED BY FINANCING ACTIVITIES 147,112 54,643 Net increase (decrease) in cash 10,778 ( 5,817 ) Cash at beginning of period 37 5,854 Cash at end of period $ 10,815 $ 37 SUPPLEMENTAL CASH FLOW INFORMATION: Cash payments for: Interest paid $ - $ - Income taxes paid $ - $ - The accompanying notes are an integral part of the

financial statements

financial statements 14 Transuite.Org Inc. Notes to the Financial Statements 1. The Company and Basis of Presentation Transuite.Org Inc. (the "Company") was incorporated under the laws of the State of Nevada in June 15, 2018. Transuite.Org Inc. offers translation services to individual and large companies and approaches to build tailored linguistic processes around each subject matter and content type. The company handles everything from content creation, through translation and layout to content delivery. We also qualify in all the technical aspects of website and software localization. The company offers the following services: 1. Translation services 2. Localization services 3. Multimedia translation services 4. Desktop Publishing services The Company has elected November 30th as its fiscal year end. 2. Going Concern Our financial statements have been prepared on a going concern basis which assumes that we will be able to realize our assets and discharge our liabilities and commitments in the normal course of business for the foreseeable future. We have an accumulated deficit of $ 73,189 and a working capital deficit of $ 87,993 at November 30, 2023, had a net loss of $ 14,819 , and used net cash of $ 114,334 in operating activities for year ended November 30, 2023. These factors raise substantial doubt about our ability to continue as a going concern. Our ability to continue as a going concern is dependent upon our generating profitable operations in the future and/or to obtain the necessary financing to meet our obligations and repay our liabilities arising from normal business operations when they come due. Our management intends to finance operating costs over the next twelve months with existing cash on hand and by obtaining financing through debt agreements. While we believe that we will be successful in obtaining the necessary financing and generating revenue to fund our operations, meet regulatory requirements and achieve commercial goal

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