Transuite.org Inc. Files Q3 2024 10-Q

TL;DR

Transuite.org Inc. filed their Q3 10-Q. Check financials.

AI Summary

Transuite.org Inc. filed its 10-Q for the period ending August 31, 2024. The company, incorporated in Nevada and based in Shenzhen, China, operates in computer programming and data processing services. The filing covers the third quarter of their fiscal year, which ends on November 30th.

Why It Matters

This filing provides investors with an update on Transuite.org Inc.'s financial performance and operational status for the third quarter of 2024.

Risk Assessment

Risk Level: low — This is a standard quarterly filing with no immediate red flags or significant new information presented in the header.

Key Players & Entities

• TRANSUITE.ORG INC. (company) — Filer
• 0001758699-24-000033 (other) — Accession Number
• 20240831 (date) — Period of Report
• 20241011 (date) — Filing Date
• 7370 (other) — Standard Industrial Classification
• 06 Technology (company) — Organization Name
• 301129581 (other) — IRS Number
• NV (other) — State of Incorporation
• 1130 (date) — Fiscal Year End
• 7028339602 (other) — Business Phone

FAQ

Key Financial Figures

• $0 — st 31, 2024 and 2023, we have generated $0 and $28,509 revenue , respectively . U
• $28,509 — 2024 and 2023, we have generated $0 and $28,509 revenue , respectively . Use of Estima
• $9,675 — 024, and August 31, 2023, we recognized $9,675 and $6,375 worth of amortization expens
• $6,375 — gust 31, 2023, we recognized $9,675 and $6,375 worth of amortization expense, respecti
• $3,225 — nize additional amortization expense of $3,225 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
• $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. Imputed interest expense of $4,807 and
• $4,807 — o $105,000. Imputed interest expense of $4,807 and $4,419 for the nine months ended Au
• $4,419 — Imputed interest expense of $4,807 and $4,419 for the nine months ended August 31, 20
• $0.001 — 0) shares of Common Stock, par value of $0.001 per share. There were 4,046,760 and 4
• $153,520 — te in the aggregate principal amount of $153,520. The Convertible Note is not subject to

Filing Documents

• trso_10q31082024.htm (10-Q) — 276KB
• ex31_1.htm (EX-31.1) — 13KB
• ex32_1.htm (EX-32.1) — 7KB
• 0001758699-24-000033.txt ( ) — 1385KB
• trso-20240831.xsd (EX-101.SCH) — 10KB
• trso-20240831_cal.xml (EX-101.CAL) — 20KB
• trso-20240831_def.xml (EX-101.DEF) — 13KB
• trso-20240831_lab.xml (EX-101.LAB) — 101KB
• trso-20240831_pre.xml (EX-101.PRE) — 72KB
• trso_10q31082024_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 15 Item 4.

Controls and Procedures

Controls and Procedures 16 PART II OTHER INFORMATION: Item 1.

Legal Proceedings

Legal Proceedings 18 Item 1A

Risk Factors

Risk Factors 18 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 18 Item 3. Defaults Upon Senior Securities 18 Item 4. Mine Safety Disclosures 18 Item 5. Other Information 18 Item 6. Exhibits 18

- 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"),

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 statements contain all material adjustments, consisting only of normal recurring adjustments, considered necessary to present fairly the 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 August 31, 2024 (Unaudited) and November 30, 2023 As of August 31, 2024 As of November 30, 2023 (Unaudited) ASSETS Current Assets Cash $ 10,815 $ 10,815 Prepaid Expense 32,643 123,483 Total Current Assets 43,458 134,298 Other Assets Intangible assets, net 45,002 54,677 Total Other Assets 45,002 54,677 TOTAL ASSETS $ 88,460 $ 188,975 LIABILITIES AND STOCKHOLDERS' 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 - 50,671 Total Long-Term Liabilities - 50,671 Total Liabilities 153,619 222,291 Stockholders' Deficit Common stock, $ 0.001 par value, 75,000,000 shares authorized, 4,046,760 and 4,046,760 shares issued and outstanding at August 31, 2024 and November 30, 2023 4,047 4,047 Additional paid in capital 145,329 35,826 Accumulated deficit ( 214,535 ) ( 73,189 ) Total Stockholders' Deficit ( 65,159 ) ( 33,3

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 We are developing our Translation Platform (the Platform') for regular users and/or small businesses for an annual license fee and/or a percentage of profits. Our Platform is going to be a cloud-based marketplace that can be accessed by a web browser on any kind of device that allows end-users to socially connect with translators that offer appropriate services in order to discuss suitable conditions of cooperation. Competition We face competition in the social networking sector. Moving forward with development of our Platform, we plan to compete on a larger scale with Facebook, LinkedIn, eBay, and other social networks and E-Commerce sites for users' engagement, all of which have substantially more financial resources, and a significantly larger user-base than we do. Competitive Advantages Our competitive advantage is that we are solely dedicated to the translation industry that business and consumer users that do not feel comfortable sharing content and information on other social networks like Facebook, LinkedIn, and Twitter, as it may either jeopardize their personal and professional reputations or be completely lost in the white-noise of billions of other posts. Additionally, we are planning to develop specialized features for this translation industry that will incorporate E-Commerce directly into a user's social networking account. This integration of E-Commerce directly into social networking is expected to set our Platform apart from our current competitors. Competitive Disadvantages Our competitive disadvantages are that we do not have the operational and financial resources that our competitors have, which results in our having fewer resources to market our online Translation Platform, advertise our digital services, acquire new users on our Platform, and sell our advertising and digital services to business customers, as compared to o

View Full Filing

View this 10-Q filing on SEC EDGAR