AMJ Global Technology SEC 10-K Report

About this update from Amj Global Technology

AMJ Global Technology, a start-up company originally incorporated as Kange Corp, has released its Form 10-K report, detailing its financial and operational performance for the fiscal year. The company, which focuses on developing mobile software products and holistic health treatments, has made significant strides in technology development and strategic initiatives, despite facing operational challenges and financial risks. Financial Highlights Revenues - related party: $39, marking the first revenue recognition for the period from a revenue-sharing agreement with a related party. Operating loss: $183,845, an increase from the previous year due to higher operating expenses. Net loss: $85,697, a decrease compared to the previous year, primarily due to gains on the settlement of debt. Basic and diluted loss per common share: $0.00, unchanged from the previous year. Business Highlights Company Overview: AMJ Global Technology is focused on developing mobile software products, with an initial market focus in Estonia and Europe. The company has shifted its focus towards the intersection of technology and holistic health treatments, particularly targeting professional athletes with PTSD and early onset dementia and Alzheimer’s. Technology Development: The company is developing an advanced database called ElephantSqlDB®, which leverages AI and quantum computing to perform multiple database functions, aiming to reduce cloud infrastructure costs and enhance security against threats like ransomware. Intellectual Property Acquisition: On April 26, 2023, AMJ Global Technology acquired 25% ownership rights to the intellectual property of the 'Blabeey' platform, including software, code, and trade secrets, from AMJ Global Entertainment, LLC at zero cost. Revenue Sharing Agreement: The company entered into a revenue-sharing agreement on July 13, 2024, with a related party, which entitles it to 5% of net revenue from contracts related to Medicare enrollees and insurance sales. Operational Challenges: The company has been issued a 'going concern' opinion due to its reliance on the sale of common stock and advances from related parties as its primary funding sources, highlighting the need for additional capital to sustain operations. Future Outlook: AMJ Global Technology plans to continue its focus on developing technology solutions in the holistic health industry and is exploring opportunities for additional financing to support its business operations and strategic initiatives. Strategic Initiatives Strategic Focus: AMJ Global Technology is focusing on expanding its operations in the holistic health industry and leveraging technology assets like the ElephantSqlDB® database to reduce cloud infrastructure costs and enhance security. Revenue Sharing Opportunities: The company is exploring revenue sharing opportunities through Medicare contracts and life and annuity insurance sales. Intellectual Property Rights: The company has entered into a strategic assignment agreement with AMJ Global Entertainment, LLC, to acquire intellectual property rights related to the 'Blabeey' platform. Capital Management: The company has been managing its capital through equity transactions, including issuing shares for software and development acquisitions, revenue sharing agreements, and settling debts with related parties. It is actively seeking additional financing through private equity offerings to secure funding for operations. Future Outlook: AMJ Global Technology plans to continue its efforts to secure additional funding through debt or equity financing arrangements. The company is also exploring strategic partnerships and convertible notes payable to support its operations. A Letter of Intent has been signed for acquiring a 25% equity stake in a related party company, and a share exchange agreement is in place to enhance its strategic position. The company aims to transition to profitable operations and address its going concern issues by generating revenues and securing investment capital. Challenges and Risks Operational Challenges: AMJ Global Technology is a start-up company with limited operations, focusing on mobile software products and holistic technology-based health treatments. The company is currently evaluating operations in the holistic health industry and has a reliance on revenue sharing from Medicare enrollees and life and annuity insurance sales. Going Concern Opinion: The company has been issued a 'going concern' opinion by its auditor, indicating substantial doubt about its ability to continue operations without additional capital. Financial Risks: The company has incurred cumulative net losses of $476,274 since inception and requires additional capital to continue operations. The ability to raise additional capital through debt or equity is uncertain, and the company’s reliance on related party transactions for revenue generation poses a risk. Liquidity Concerns: The company’s liquidity is a concern, with insufficient cash to operate for the next twelve months, and it plans to seek additional financing, though there is no assurance of success. Market Risks: The company’s financial condition and reliance on related party transactions suggest exposure to market risks, particularly in securing additional financing and achieving profitable operations. SEC Filing:

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