Altair International Corp. Files 2024 10-K

TL;DR

Altair Intl Corp 10-K filed. FY24 results out.

AI Summary

Altair International Corp. filed its 10-K for the fiscal year ending March 31, 2024. The company, headquartered in Pittsburgh, PA, operates in the Surgical & Medical Instruments & Apparatus industry. The filing covers the period from April 1, 2023, to March 31, 2024, and includes financial data for the fiscal years 2024, 2023, and 2022.

Why It Matters

This 10-K filing provides a comprehensive overview of Altair International Corp.'s financial performance and business operations for the fiscal year ending March 31, 2024, offering insights for investors and stakeholders.

Risk Assessment

Risk Level: low — The provided text is a standard 10-K filing header and does not contain specific financial performance details or forward-looking statements that would indicate a high risk.

Key Numbers

• FY 2024 — Fiscal Year End (Reporting period for the 10-K)
• 03-31 — Fiscal Year End Date (Specific end date for the fiscal year)
• 20240331 — Conformed Period of Report (The period the report covers)

Key Players & Entities

• ALTAIR INTERNATIONAL CORP. (company) — Filer
• 322 NORTH SHORE DRIVE (location) — Business Address
• PITTSBURGH, PA (location) — Business Address City/State
• 412-770-3140 (phone_number) — Business Phone

FAQ

Key Financial Figures

• $0.0415 — ed by reference to the closing price of $0.0415 on September 30, 2023, at which the com
• $75,000 — ich we agreed to make total payments of $75,000 to AMLM in exchange for a 10% undivided
• $30,000 — as been fully satisfied by the Company ($30,000 paid 12/8/2020 and $45,000 paid 1/5/202
• $45,000 — the Company ($30,000 paid 12/8/2020 and $45,000 paid 1/5/2021), resulting in Altair own
• $1,300,648 — an additional 50% by a total payment of $1,300,648 for exploration and development costs a
• $100,648 — ation and development costs as follows: $100,648 within year one for an additional 10/%,
• $600,000 — within year one for an additional 10/%, $600,000 in year two for an additional 20% and $
• $8,000,000 — revenue on all payments in excess of US$8,000,000 of production on an annualized basis.
• $35,000 — 1, 2024, EROP Enterprises LLC converted $35,000 and $2,336 of principal and interest, r
• $2,336 — P Enterprises LLC converted $35,000 and $2,336 of principal and interest, respectively
• $25,000 — nded March 31, 2024, Thirty05 converted $25,000 and $2,772 of principal and interest, r
• $2,772 — 1, 2024, Thirty05 converted $25,000 and $2,772 of principal and interest, respectively
• $0 — for the year ended March 31, 2024, was $0 compared to $10,890 for the year ended
• $10,890 — nded March 31, 2024, was $0 compared to $10,890 for the year ended March 31, 2023, a de
• $48,000 — for the year ended March 31, 2024, was $48,000 compared to $318,000 for the year ended

Filing Documents

• atao0618form10k.htm (10-K) — 628KB
• atao0628form10kexh31_1.htm (EX-31.1) — 10KB
• atao0628form10kexh32_1.htm (EX-32.1) — 4KB
• auditorheader.jpg (GRAPHIC) — 5KB
• image_001.jpg (GRAPHIC) — 7KB
• 0001554795-24-000164.txt ( ) — 3483KB
• atao-20240331.xsd (EX-101.SCH) — 31KB
• atao-20240331_cal.xml (EX-101.CAL) — 35KB
• atao-20240331_def.xml (EX-101.DEF) — 73KB
• atao-20240331_lab.xml (EX-101.LAB) — 213KB
• atao-20240331_pre.xml (EX-101.PRE) — 164KB
• atao0618form10k_htm.xml (XML) — 574KB

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 5 Item 1B. Unresolved Staff Comments 5 Item 1C. Cybersecurity 5 Item 2. Property 5 Item 3.

Legal Proceedings

Legal Proceedings 5 Item 4. Mine Safety Disclosures 5 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 6 Item 6. [Reserved] 6 Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operation 7 Item 7A. Quantitative and Qualitative Disclosure About Market Risk 8 Item 8. Financial 9 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 20 Item 9A. Controls and Procedures 20 Item 9B. Other Information 21 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 21 PART III Item 10. Directors, Executive Officers and Corporate Governance 22 Item 11. Executive Compensation 24 Item 12. Security 25 Item 13. Certain Relationships and Related Transactions, and Director Independence 25 Item 14. Principal Accountant Fees and Services 26 PART IV Item 15. Exhibits, and Financial Statement Schedules 26 Item 16 Form 10-K Summary 27

DESCRIPTION OF BUSINESS

ITEM 1. DESCRIPTION OF BUSINESS PART I

Forward-Looking Statements

Forward-Looking Statements Unless the context indicates otherwise, as used in this Annual Report, the terms "Altair," "we," "us," "our," "our company" and "our business" refer, to Altair International Corp, including its subsidiaries named herein. Certain statements, other than purely historical information, including estimates, projections, statements relating to our business plans, objectives, and expected operating results, and the assumptions upon which those statements are based, are "forward-looking statements." These forward-looking "estimates," "intends," "strategy," "plan," "may," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements. Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse effect on our operations and future prospects include, but are not limited to: changes in economic conditions, legislative/regulatory changes, availability of capital, interest rates, competition, and generally accepted accounting principles. These risks and uncertainties should also be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Overview Altair International Corp. ("Altair") is a development stage company that was incorporated in Nevada on December 20, 2012. The Company is currently in very preliminary discussions with a number of acquisition targets, each of which we believe would deliver significant value to our shareholders. The Company is currently engaged in identifying and assessing new business opportunities. Earn-In Agreement On November 23, 2020, the Comp

RISK FACTORS

ITEM 1A. RISK FACTORS We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and, as such, are not required to provide the information under this Item.

UNRESOLVED STAFF COMMENTS

Item 1B. UNRESOLVED STAFF COMMENTS None

CYBERSECURITY

ITEM 1C. CYBERSECURITY We use, store and process data for and about our customers, employees, partners and suppliers. We have implemented a cybersecurity risk management program that is designed to identify, assess, and mitigate risks from cybersecurity threats to this data, our systems and business operations. Cyber Risk Management and Strategy Under the oversight of the Board of Directors since we do not currently have an Audit Committee, we have implemented and maintain a risk management program that includes processes for the systematic identification, assessment, management, and treatment of cybersecurity risks. Our cybersecurity oversight and operational processes are integrated into our overall risk management processes, and cybersecurity is one of our designated risk categories. We implement a risk-based approach to the management of cyber threats, supported by cybersecurity technologies, including automated tools, designed to monitor, identify, and address cybersecurity risks. In support of this approach, our IT security team implements processes to assess, identify, and manage security risks to the company, including in the pillar areas of security and compliance, application security, infrastructure security, and data privacy. This process includes regular compliance and critical system access reviews. In addition, we conduct application security assessments, vulnerability management, penetration testing, security audits, and ongoing risk assessments as part of our risk management process. We utilize third parties and consultants to assist in the identification and assessment of risks, including to support tabletop exercises and to conduct security testing. We utilize well-known cloud-based technologies and service providers such as Amazon AWS, Microsoft Office, and Google enterprise to provide protection against cybersecurity threats. Further, we have processes in place to evaluate potential risks from cybersecurity threats associated with our use

DESCRIPTION OF PROPERTY

ITEM 2. DESCRIPTION OF PROPERTY We do not own any real estate or other properties.

LEGAL PROCEEDINGS

ITEM 3. LEGAL PROCEEDINGS There are no material claims, actions, suits, proceedings, or investigations that are currently pending or, to the Company's knowledge, threatened by or against the Company or respecting its operations or assets, or by or against any of the Company's officers, directors, or affiliates.

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES Not applicable. 5 PART II

MARKET FOR COMMON EQUITY, RELATED

ITEM 5. MARKET FOR COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES Market Information Our common shares are quoted on the OTCQB Market under the symbol "ATAO". Trading in stocks quoted on the OTC Market is often thin and is characterized by wide fluctuations in trading prices due to many factors that may be unrelated to a company's operations or business prospects. We cannot assure you that there will be a market in the future for our common stock. OTC Market securities are not listed or traded on the floor of an organized national or regional stock exchange. Instead, OTC Market securities transactions are conducted through a telephone and computer network connecting dealers in stocks. OTC Market issuers are traditionally smaller companies that do not meet the financial and other listing requirements of a regional or national stock exchange. Number of Holders As of June 28, 2024, 31,975,852 issued and outstanding shares of common stock were held by 69 shareholders of record. Dividend Policy We have never paid any cash dividends and intend, for the foreseeable future, to retain any future earnings for the development of our business. Our Board of Directors will determine our future dividend policy on the basis of various factors, including our results of operations, financial condition, capital requirements and investment opportunities. Recent Issuance of Unregistered Securities During the year ended March 31, 2024, EROP Enterprises LLC converted $35,000 and $2,336 of principal and interest, respectively, into 1,749,820 shares of common stock. During the year ended March 31, 2024, Thirty05 converted $25,000 and $2,772 of principal and interest, respectively, into 1,455,572 shares of common stock. Securities Authorized for Issuance Under Equity Compensation Plans None.

[Reserved]

ITEM 6. [Reserved] 6

MANAGEMENT'S DISCUSSION AND ANALYSIS OF

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following discussion should be read in conjunction with our financial statements, including the notes thereto, appearing elsewhere in this annual report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements. Our audited financial statements are stated in United States Dollars and are prepared in accordance with United States Generally Accepted Accounting Principles. RESULTS OF OPERATIONS We have incurred recurring losses to date. Our financial to the recoverability and realization of assets and classification of liabilities that might be necessary should we be unable to continue in operation. We expect we will require additional capital to meet our long-term operating requirements. We expect to raise additional funds through, among other things, the sale of equity or debt securities although no assurance can be given as to availability of funds or the terms thereof. We are both currently and generally exploring options which will bring value to our shareholders and are in early stage discussions with a number of potential acquisition targets. Management resolves to provide updates on these efforts at the earliest such time that they become tangible. Results of Operations Year Ended March 31, 2024 Compared to the Year Ended March 31, 2023 Revenues The Company has not recognized any revenue to date. Operating Expenses Mining and exploration expenses for the year ended March 31, 2024, was $0 compared to $10,890 for the year ended March 31, 2023, a decrease of $10,890. The Company's mining and exploration expenses have decreased to $0 in the current period as the Company look

QUANTITATIVE AND QUALITATIVE DISCLOSURES

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item. 8

FINANCIAL STATEMENTS AND SUPPLEMENTARY

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA ALTAIR INTERNATIONAL CORP. INDEX TO FINANCIAL STATEMENTS Report of Independent Registered Public Accounting Firm F-2 Consolidated Balance Sheets as of March 31, 2024 and 2023 F-3 Consolidated Statements of Operations for the Years ended March 31, 2024 and 2023 F-4 Consolidated Statements of Stockholders' Deficit for the Years ended March 31, 2024 and 2023 F-5 Consolidated Statements of Cash Flows for the Years ended March 31, 2024 and 2023 F-6 Notes to the Consolidated Financial Statements F-7 9 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors and Shareholders of Altair International Corp. Opinion on the Financial Statements We have audited the accompanying consolidated balance sheets of Altair International Corp. ("the Company") as of March 31, 2024 and 2023, and the related consolidated statements of operations, stockholders' equity (deficit), and cash flows for each of the years in the two-year period ended March 31, 2024, 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 the Company as of March 31, 2024 and 2023 and the results of its operations and its cash flows for each of the years in the two-year period ended March 31, 2024, 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 Company will continue as a going concern. As discussed in Note 3 to the financial statements, the Company has an accumulated deficit and net losses since inception. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. Management's plans in regard to these matters are also described in Note 3. The financial

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