T-REX Acquisition Corp. Files 10-Q for Q3 2024
Ticker: TRXA · Form: 10-Q · Filed: May 24, 2024 · CIK: 1437750
Sentiment: neutral
Topics: 10-Q, quarterly-report, finance-services
TL;DR
T-REX Acquisition Corp. filed its Q3 2024 10-Q. Financials are in.
AI Summary
T-REX Acquisition Corp. filed its 10-Q for the period ending March 31, 2024. The company, formerly known as Sync2 Networks Corp and Plethora Resources, Inc., is incorporated in Nevada and operates in Finance Services. Its fiscal year ends on June 30. The filing details financial information for the period, including its business address in Plantation, Florida.
Why It Matters
This filing provides a quarterly update on T-REX Acquisition Corp.'s financial performance and operational status, which is crucial for investors and stakeholders to assess the company's health and future prospects.
Risk Assessment
Risk Level: low — This is a routine quarterly filing (10-Q) and does not inherently indicate new or elevated risks.
Key Numbers
- 350,000,000 — Shares Authorized (Indicates the total number of shares the company is permitted to issue.)
- 18,223,953 — Shares Outstanding (Represents the number of shares currently held by investors.)
Key Players & Entities
- T-REX Acquisition Corp. (company) — Filer of the 10-Q
- Sync2 Networks Corp (company) — Former company name
- Plethora Resources, Inc. (company) — Former company name
- 09 Crypto Assets (company) — Organization name
- 33317 (dollar_amount) — ZIP code for business and mailing address
- 954-742-3001 (dollar_amount) — Business phone number
- 20240331 (date) — Conformed period of report
- 20240524 (date) — Filed as of date
FAQ
What is the primary business of T-REX Acquisition Corp.?
T-REX Acquisition Corp. operates in Finance Services, with its organization name listed as 09 Crypto Assets.
What period does this 10-Q filing cover?
This 10-Q filing covers the period ending March 31, 2024.
Where is T-REX Acquisition Corp. located?
The company's business and mailing address is 7301 NW 4TH STREET, SUITE 102, PLANTATION, FL 33317.
When is T-REX Acquisition Corp.'s fiscal year end?
T-REX Acquisition Corp.'s fiscal year ends on June 30.
What were the previous names of T-REX Acquisition Corp.?
T-REX Acquisition Corp. was formerly known as Trex Acquisition Corp., Sync2 Networks Corp, and Plethora Resources, Inc.
Filing Stats: 4,513 words · 18 min read · ~15 pages · Grade level 15.1 · Accepted 2024-05-24 08:15:30
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) — 735KB
- trex_ex311.htm (EX-31.1) — 11KB
- trex_ex321.htm (EX-32.1) — 4KB
- 0001477932-24-003277.txt ( ) — 3666KB
- trex-20240331.xsd (EX-101.SCH) — 42KB
- trex-20240331_lab.xml (EX-101.LAB) — 214KB
- trex-20240331_cal.xml (EX-101.CAL) — 36KB
- trex-20240331_pre.xml (EX-101.PRE) — 172KB
- trex-20240331_def.xml (EX-101.DEF) — 88KB
- trex_10q_htm.xml (XML) — 608KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION ITEM 1. CONSOLIDATED FINANCIAL STATEMENTS 3 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 4 ITEM 3.
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 7 ITEM 4.
CONTROLS AND PROCEDURES
CONTROLS AND PROCEDURES 7
OTHER INFORMATION
PART II. OTHER INFORMATION ITEM 1.
LEGAL PROCEEDINGS
LEGAL PROCEEDINGS 9 ITEM 1A.
RISK FACTORS
RISK FACTORS 9 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 9 ITEM 3. DEFAULTS UPON SENIOR SECURITIES 10 ITEM 4. MINE SAFETY DISCLOSURES 10 ITEM 5. OTHER INFORMATION 10 ITEM 6. EXHIBITS 11 2 Table of Contents
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements. TREX ACQUISITION CORP. March 31, 2024 Consolidated Balance Sheets F-1 Consolidated Statements of Operations F-2 Consolidated Statements of Stockholders' Equity F-3 Consolidated Statements of Cash Flows F-4 Notes to the Consolidated Financial Statements F-5 3 Table of Contents TREX ACQUISITION CORP. CONSOLIDATED BALANCE SHEETS March 31, 2024 June 30, 2023 (Unaudited) ASSETS CURRENT ASSETS: Cash $ 13 $ 23,909 Prepaid consulting - current 156,880 161,546 TOTAL CURRENT ASSETS 156,893 185,455 NON CURRENT ASSETS: Plant and equipment, net - 14,948 Prepaid consulting - non current 35,720 152,213 TOTAL NON CURRENT ASSETS 35,720 167,161 TOTAL ASSETS $ 192,613 $ 352,616 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) CURRENT LIABILITIES: Accounts payable and accrued expenses $ 81,341 $ 63,712 Advances payable - related parties 6,000 - Due to related party 690,559 495,800 Notes payable - related parties 211,787 - Note payable - unrelated parties 125,578 69,525 Deposit payable 15,000 - Interest payable, unrelated party 1,129 - TOTAL CURRENT LIABILITIES 1,131,394 629,037 TOTAL LIABILITIES $ 1,131,394 $ 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 March 31, 2024, and June 30, 2023, respectively $ 1,822 $ 1,822 Additional paid in capital 5,873,694 5,722,283 Accumulated deficit ( 6,814,297 ) ( 6,000,526 ) TOTAL STOCKHOLDERS' EQUITY (DEFICIT) $ ( 938,781 ) $ ( 276,421 ) TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ 192,613 $ 352,616 The accompanying footnotes are an integral part of these consolidated financial statements. F-1 Table of Contents TREX ACQUISITION CORP. CONSOLIDATED STATEMENTS OF OPERATIONS for the three and nine months ended Marc
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS March 31, 2024 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 LLC O