Altair International Corp. Files Q1 FY25 10-Q

TL;DR

Altair Intl (ALTR) filed Q1 FY25 10-Q. Financials look steady.

AI Summary

Altair International Corp. filed its 10-Q for the period ending June 30, 2024. The filing details financial information for the first quarter of fiscal year 2025. Key financial statement line items such as common stock, additional paid-in capital, accumulated other comprehensive income, and retained earnings are presented for the periods ending March 31, 2024, March 31, 2023, and the quarterly periods within 2024 and 2023.

Why It Matters

This filing provides investors with the latest financial snapshot of Altair International Corp., crucial for understanding the company's performance and financial health in the current fiscal quarter.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags or significant new disclosures.

Key Numbers

• Q1 2025 — Fiscal Quarter (The filing covers the first quarter of fiscal year 2025.)
• 2024-06-30 — Period End Date (The financial data reported in the 10-Q pertains to this date.)

Key Players & Entities

• ALTAIR INTERNATIONAL CORP. (company) — Filer of the 10-Q
• 0001570937 (company) — Central Index Key for Altair International Corp.
• 20240630 (date) — End of the reporting period for the 10-Q
• 20240815 (date) — Filing date of the 10-Q

FAQ

Key Financial Figures

• $0.001 — e 32,803,527 shares of the registrant's $0.001 par value common stock issued and outst
• $8,000,000 — revenue on all payments in excess of US $8,000,000 of production on an annualized basis.
• $0.02 — agreed to change the conversion rate to $0.02. (2) Converts at $0.015 per share.
• $0.015 — rsion rate to $0.02. (2) Converts at $0.015 per share. (3) Converts at $0.04 per
• $0.04 — at $0.015 per share. (3) Converts at $0.04 per share. (4) Converts at $0.03 per
• $0.03 — at $0.04 per share. (4) Converts at $0.03 per share. NOTE 5 – LOAN PAYABLE A
• $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 $

Filing Documents

• atao0814form10q.htm (10-Q) — 386KB
• atao0814form10qexh31_1.htm (EX-31.1) — 10KB
• atao0814form10qexh32_1.htm (EX-32.1) — 4KB
• 0001554795-24-000215.txt ( ) — 2087KB
• atao-20240630.xsd (EX-101.SCH) — 20KB
• atao-20240630_cal.xml (EX-101.CAL) — 27KB
• atao-20240630_def.xml (EX-101.DEF) — 40KB
• atao-20240630_lab.xml (EX-101.LAB) — 137KB
• atao-20240630_pre.xml (EX-101.PRE) — 108KB
• atao0814form10q_htm.xml (XML) — 274KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1. Unaudited 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 13 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 15

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 17 Item1A.

Risk Factors

Risk Factors 17 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 17 Item 3. Defaults Upon Senior Securities 17 Item 4. Mine Safety Disclosures 17 Item 5. Other Information 17 Item 6. Exhibits 17

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

UNAUDITED FINANCIAL STATEMENTS

ITEM 1. UNAUDITED FINANCIAL STATEMENTS ALTAIR INTERNATIONAL CORP. INDEX TO FINANCIAL STATEMENTS Consolidated Balance Sheets as of June 30, 2024 (Unaudited) and March 31, 2024 (Audited) F-1 Consolidated F-2 Consolidated F-3 Consolidated F-4 Notes to the Consolidated Financial Statements (Unaudited) F-5 3 ALTAIR INTERNATIONAL CORP. CONSOLIDATED BALANCE SHEETS June 30, 2024 March 31, 2024 ASSETS (Unaudited) (Audited) Current Assets: Cash $ 7,211 $ 4,298 Prepaid 4,200 6,500 Total Current Assets 11,411 10,798 Total Assets $ 11,411 $ 10,798 LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities: Accounts payable $ 5,000 $ — Loans payable 14,165 14,165 Interest payable 15,549 13,029 Convertible notes payable, net of debt discount of $ 0 and $ 5,210 , respectively 156,444 166,234 Due to a related party 26,400 — Total Current Liabilities 217,558 193,428 Total Liabilities 217,558 193,428 Stockholders' Deficit: Preferred Stock, $ 0.001 par value, 10,000,000 shares authorized, no shares issued — — Common Stock, $ 0.001 par value, 5,000,000,000 shares authorized; 31,975,852 and 30,238,686 shares issued and outstanding, respectively 31,976 30,239 Common stock to be issued — 58,938 Additional paid in capital 17,320,630 17,243,603 Accumulated deficit ( 17,558,753 ) ( 17,515,410 ) Total Stockholders' Deficit ( 206,147 ) ( 182,630 ) Total Liabilities and Stockholders' Deficit $ 11,411 $ 10,798 The accompanying notes are an integral part of these unaudited consolidated financial statements. F-1 ALTAIR INTERNATIONAL CORP. CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) For The Three Months

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION OR PLAN OF OPERATION

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION OR PLAN OF OPERATION

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These forward-looking statements are not historical facts but rather are based on current expectations, estimates and projections. We may use words such as "anticipate," "expect," "intend," "plan," "believe," "foresee," "estimate" and variations of these words and similar expressions to identify forward-looking statements. These statements are not guarantees of future performance and are actual results to differ materially from those expressed or forecasted. You should read this report completely and with the understanding that actual future results may be materially different from what we expect. The forward-looking statements included in this report are made as of the date of this report and should be evaluated with consideration of any changes occurring after the date of this Report. We will not update forward-looking statements even though our situation may change in the future and we assume no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Our Business 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 Company entered into an Earn-In Agreement with American Lithium Minerals, Inc. ("AMLM") un

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View this 10-Q filing on SEC EDGAR