Transuite.org Inc. Files Q2 2024 10-Q

TL;DR

Transuite.org Inc. 10-Q filed. Q2 2024 financials out. Based in Warsaw.

AI Summary

Transuite.org Inc. filed its 10-Q for the period ending May 31, 2024. The company, incorporated in Nevada and based in Warsaw, Poland, operates in computer programming and data processing services. The filing covers the second quarter of fiscal year 2024, with financial data presented for various periods including May 31, 2024, February 29, 2024, and November 30, 2023.

Why It Matters

This filing provides investors with an update on Transuite.org Inc.'s financial performance and position as of May 31, 2024, crucial for assessing the company's health and future prospects.

Risk Assessment

Risk Level: medium — The filing is a standard quarterly report, but the company's specific financial details and operational risks are not fully detailed in this header information, requiring a deeper dive into the full report.

Key Numbers

• Q2 2024 — Quarterly Period (Reporting period for the 10-Q filing.)
• 2024-05-31 — Reporting Date (End date of the financial reporting period.)

Key Players & Entities

• TRANSUITE.ORG INC. (company) — Filer
• 0001758699-24-000023 (other) — Accession Number
• 20240531 (date) — Period of Report
• 20240617 (date) — Filed as of Date
• 06 Technology (company) — Organization Name
• NV (state) — State of Incorporation
• 1130 (date) — Fiscal Year End
• Warsaw (location) — Business Address City

FAQ

Key Financial Figures

• $0.001 — lder's Equity (Deficit) Common stock, $0.001 par value, 75,000,000 shares authorized
• $18,605 — d revenue in the amount of $ 10,056 and $18,605, respectively. The translation services
• $0 — d an allowance for doubtful accounts of $0 as of May 31, 2024. F oreign Currency
• $6,450 — nize additional amortization expense of $6,450 during the year ended November 30, 2024
• $12,900 — uring the year ended November 30, 2024, $12,900 of amortization expense in the fiscal y
• $11,859 — al years ending November 2025 and 2026, $11,859 of amortization expense in the fiscal y
• $4,118 — scal year ending November 30, 2027, and $4,118 of amortization expense in the fiscal y
• $65,760 — months ended May 31, 2024 we recognized $65,760 of server expense. Leases The Compa
• $50,000 — O. The lender agreed to lend a total of $50,000 payable in applicable installments over
• $100,000 — increase maximum amount of the Loan to $100,000 and extend the Term to 7 years or until
• $105,000 — rease the maximum amount of the Loan to $105,000. The amount due under the Loan was $ 10
• $49,969 — hs ended May 31, 2024, the CEO advanced $49,969 to the Company and the Company repaid t
• $3,320 — the CEO $0. Imputed interest expense of $3,320 and $2,882 for the six months ended May
• $2,882 — Imputed interest expense of $3,320 and $2,882 for the six months ended May 31, 2024 a
• $153,520 — te in the aggregate principal amount of $153,520. The Convertible Note is not subject to

Filing Documents

• trso10q31may2024.htm (10-Q) — 276KB
• ex31_1.htm (EX-31.1) — 12KB
• ex32_1.htm (EX-32.1) — 5KB
• 0001758699-24-000023.txt ( ) — 1385KB
• trso-20240531.xsd (EX-101.SCH) — 10KB
• trso-20240531_cal.xml (EX-101.CAL) — 21KB
• trso-20240531_def.xml (EX-101.DEF) — 13KB
• trso-20240531_lab.xml (EX-101.LAB) — 100KB
• trso-20240531_pre.xml (EX-101.PRE) — 71KB
• trso10q31may2024_htm.xml (XML) — 111KB

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 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 16 Item 4.

Controls and Procedures

Controls and Procedures 17 PART II OTHER INFORMATION: Item 1.

Legal Proceedings

Legal Proceedings 19 Item 1A

Risk Factors

Risk Factors 19 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 19 Item 3. Defaults Upon Senior Securities 19 Item 4. Mine Safety Disclosures 19 Item 5. Other Information 19 Item 6. Exhibits 19

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1. Condensed Financial Statements. The accompanying interim condensed financial statements of Transuite.Org Inc. ("the Company", "we", "us" or "our"), have been prepared without audit pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with United States generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. The interim financial statements are condensed and should be read in conjunction with the Company's latest annual financial statements. In the opinion of management, the condensed financial financial condition, results of operations, and cash flows of the Company for the interim periods presented. 4 Transuite.Org Inc. Condensed Balance Sheets as of May 31, 2024 (Unaudited) and November 30, 2023 As of May 31, 2024 As of November 30, 2023 (Unaudited) ASSETS Current Assets Cash $ 10,815 $ 10,815 Prepaid Expense 69,423 123,483 Total Current Assets 80,238 134,298 Other Assets Intangible assets, net 48,227 54,677 Total Other Assets 48,227 54,677 TOTAL ASSETS $ 128,465 $ 188,975 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Liabilities Current Liabilities Accounts payable $ 99 $ 18,100 Convertible notes payable 153,520 153,520 Total Current Liabilities 153,619 171,620 Loan payable - related party 100,640 50,671 Total Long-Term Liabilities 100,640 50,671 Total Liabilities 254,259 222,291 Stockholder's Equity (Deficit) Common stock, $0.001 par value, 75,000,000 shares authorized, 4,046,760 and 4,046,760 shares issued and outstanding at May 31, 2024 and November 30, 2023 4,047 4,047 Additional pai

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

Management's Discussion and Analysis of Financial Condition and Results of Operations. 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. 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 between end-users and translators, enabling discussions on collaboration conditions and ensuring access to appropriate services tailored to specific needs. Central to our strategy is the empowerment of freelance translators through our platform. We aim to create an environment where translators can showcase their skills, build their portfolios, and engage with potential clients. By fostering meaningful connections and providing a space for professional growth, we are commi

View Full Filing

View this 10-Q filing on SEC EDGAR