T-REX Acquisition Corp. Files 10-Q for Period Ending September 30, 2023

TL;DR

<b>T-REX Acquisition Corp. has filed its quarterly report (10-Q) for the period ending September 30, 2023.</b>

AI Summary

T-REX Acquisition Corp. (TRXA) filed a Quarterly Report (10-Q) with the SEC on February 22, 2024. T-REX Acquisition Corp. filed a 10-Q report for the period ending September 30, 2023. The company's fiscal year ends on June 30. The filing was made on February 22, 2024. The company was formerly known as Trex Acquisition Corp., Sync2 Networks Corp, and Plethora Resources, Inc. The business and mailing address is 7301 NW 4th Street, Suite 102, Plantation, FL 33317.

Why It Matters

For investors and stakeholders tracking T-REX Acquisition Corp., this filing contains several important signals. This filing provides an update on the company's financial performance and operational status for the first quarter of its fiscal year 2024. Understanding the details within this 10-Q is crucial for investors to assess the company's current financial health and future prospects.

Risk Assessment

Risk Level: low — T-REX Acquisition Corp. shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not contain significant new information that would alter the company's risk profile.

Analyst Insight

Review the financial statements and management's discussion and analysis within the 10-Q to understand T-REX Acquisition Corp.'s performance and outlook.

Key Numbers

• 2023-09-30 — Reporting Period End Date (Conformed period of report)
• 2024-02-22 — Filing Date (Filed as of date)
• 06-30 — Fiscal Year End (Fiscal year end)
• NV — State of Incorporation (State of incorporation)

Key Players & Entities

• T-REX Acquisition Corp. (company) — Filer name
• 2023-09-30 (date) — Conformed period of report
• 2024-02-22 (date) — Filed as of date
• Trex Acquisition Corp. (company) — Former company name
• Sync2 Networks Corp (company) — Former company name
• Plethora Resources, Inc. (company) — Former company name
• Plantation, FL (location) — Business address city and state
• 0001477932-24-000851 (filing_id) — Accession number

FAQ

Industry Context

T-REX Acquisition Corp. operates within the Finance Services sector, specifically SIC code 6199.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial reports.

What Investors Should Do

1. Analyze the financial statements (balance sheet, income statement, cash flow statement) for the quarter ended September 30, 2023.
2. Review the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' section for insights into performance drivers and trends.
3. Check for any new disclosures regarding business operations, risks, or legal proceedings.

Key Dates

• 2023-09-30: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-02-22: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is a 10-Q filing, which is a standard quarterly report. No prior filing data is available in the provided text for comparison.

Key Financial Figures

• $0.0001 — e 18,223,953 shares of the Registrant's $0.0001 par value common stock issued and outst

Filing Documents

• trex_10q.htm (10-Q) — 579KB
• trex_ex311.htm (EX-31.1) — 11KB
• trex_ex321.htm (EX-32.1) — 5KB
• 0001477932-24-000851.txt (&nbsp;) — 3174KB
• trex-20230930.xsd (EX-101.SCH) — 37KB
• trex-20230930_lab.xml (EX-101.LAB) — 198KB
• trex-20230930_cal.xml (EX-101.CAL) — 34KB
• trex-20230930_pre.xml (EX-101.PRE) — 164KB
• trex-20230930_def.xml (EX-101.DEF) — 91KB
• trex_10q_htm.xml (XML) — 474KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION ITEM 1. CONSOLIDATED FINANCIAL STATEMENTS F-1 ITEM 2.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 3 ITEM 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 6 ITEM 4.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 6

OTHER INFORMATION

PART II. OTHER INFORMATION ITEM 1.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 8 ITEM 1A.

RISK FACTORS

RISK FACTORS 8 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 8 ITEM 3. DEFAULTS UPON SENIOR SECURITIES 8 ITEM 4. MINE SAFETY DISCLOSURES 8 ITEM 5. OTHER INFORMATION 8 ITEM 6. EXHIBITS 9 2 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements . TREX ACQUISITION CORP. September 30, 2023 Consolidated Balance Sheets F-2 Consolidated Statements of Operations F-3 Consolidated Statements of Stockholders' Equity F-4 Consolidated Statements of Cash Flows F-5 Notes to the Consolidated Financial Statements F-6 F-1 Table of Contents TREX ACQUISITION CORP. CONSOLIDATED BALANCE SHEETS September 30, 2023 June 30, 2023 (Unaudited) ASSETS CURRENT ASSETS: Cash - $ 23,909 Prepaid consulting - current 159,213 161,546 TOTAL CURRENT ASSETS 159,213 185,455 NON-CURRENT ASSETS: Plant and equipment - 14,948 Prepaid consulting - noncurrent 114,160 152,213 Facility deposit - - TOTAL NON-CURRENT ASSETS 114,160 167,161 TOTAL ASSETS $ 273,373 $ 352,616 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) CURRENT LIABILITIES: Accounts payable and accrued expenses $ 80,559 $ 63,712 Due to related party 469,300 495,800 Notes payable - related parties 153,750 - Note payable - unrelated parties 89,581 69,525 TOTAL CURRENT LIABILITIES 793,190 629,037 TOTAL LIABILITIES 793,190 629,037 Commitments and Contingencies - - STOCKHOLDERS' EQUITY (DEFICIT) Common Stock, 0.0001 par value, authorized 350,000,000 shares and 18,223,953 and 18,223,953 issued and outstanding as of September 30, 2023, and June 30, 2023, respectively 1,822 1,822 Additional paid in capital 5,822,753 5,722,283 Shares to be issued - - Accumulated deficit ( 6,344,392 ) ( 6,000,526 ) TOTAL STOCKHOLDERS' EQUITY (DEFICIT) ( 519,817 ) ( 276,421 ) TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ 273,373 $ 352,616 The accompanying footnotes are an integral part of these consolidated financial statements. F-2 Table of Contents TREX ACQUISITION CORP. CONSOLIDATED STATEMENTS OF OPERATIONS for the three months ended September 30, (UNAUDITED) 2023 2022 REVENUE Mining Revenue $ 12,912 $ 25,8

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS September 30, 2023 NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS T-REX Acquisition Corp. (The " Company ") was formed on January 16, 2008, in the state of Nevada under the name Plethora Resources, Inc. as a development stage enterprise. The Company was originally organized to engage in the business of consulting to oil and gas exploration companies interested in obtaining exploration and production licenses at auction for oil and gas properties in Russia. The Company later changed its name to Sync2 Networks Corp when the Company began to engage in software-related services. On March 20, 2014, the Company changed its name to TREX Acquisition Corp. after its business operations under the Sync2 Networks' branding had ceased. On June 21, 2021, the Company decided to pivot from seeking an acquisition candidate to operating a cryptocurrency mining business. On February 17, 2022, the Company began mining bitcoin at Ace Hosting, a Tampa, Florida located data center. On June 30, 2022, the Company changed its name to "T-REX Acquisition Corp." As of June 30, 2023, the Company is a holding company with the following subsidiaries: Raptor Mining LLC, a Florida limited liability company (" Raptor Mining "); and TRXA Merger Sub, Inc., an inactive Delaware corporation (" Merger Sub "). On July 1, 2022, we incorporated Megalodon Mining and Electric, LLC, a Florida limited liability company (" Megalodon "). 2020 TRXA Merger Sub Inc. On March 13, 2020, the Company incorporated the Merger Sub in order to facilitate the acquisition of a pre-revenue Software-as-a-Service internet platform business. The Company's sole Officer and Director currently serves as the sole officer and director of the Merger Sub. As of the date of this filing, neither the Company nor the Merger Sub have entered into a definitive agreement or non-binding letter of intent to acquire a company. 2021 Raptor Mining LLC and 2022 Megalodon Mining and Electric LL

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View this 10-Q filing on SEC EDGAR