Byrn, Inc., formerly known as Quture International, Inc., has released its Form 10-Q report for the first quarter of 2024. The Nevada-based company, established in April 2011, aims to transform healthcare by developing standards for measuring clinical performance and outcomes through medical software tools and analytics. The report provides insights into the company's financial performance and operational status as it continues to explore potential business opportunities.
Financial Highlights
- Operating Expenses: $1,817 for the three months ended March 31, 2024, compared to $2,188 for the same period in 2023, indicating a decrease in administrative expenses.
- Net Loss: $(1,817) for the three months ended March 31, 2024, compared to $(2,188) for the same period in 2023, reflecting a slight improvement in net loss.
- Basic and Diluted (Loss) Per Common Share: $(0.00) for both the three months ended March 31, 2024, and March 31, 2023, showing no change in loss per share.
Business Highlights
- Organizational History and Overview: Byrn, Inc. is a Nevada corporation established in April 2011. The company aims to transform healthcare by developing standards for measuring clinical performance and outcomes through medical software tools and analytics.
- No Current Operations: As of the report date, Byrn, Inc. has no ongoing business operations or revenue from continuing operations. The company is primarily focused on maintaining its corporate structure and exploring potential business opportunities.
- Plan of Operation: Management intends to explore and identify business opportunities within the U.S., including potential acquisitions of operating entities through reverse mergers, asset purchases, or similar transactions. The company is considering business combinations with entities that may need additional funds for development or expansion.
- Future Outlook: The company anticipates incurring costs related to investigating, evaluating, and negotiating potential business combinations over the next 12 months. Management is exploring alternative sources of financing to support these activities.
- Risks and Challenges: The company faces risks associated with its early-stage development, including an evolving business model, revenue recognition challenges, and growth management. Additionally, the ongoing effects of the coronavirus pandemic pose uncertainties for future business operations.
- Capital Resources: Given limited capital resources, Byrn, Inc. may consider business combinations with entities in need of additional funds or those seeking access to U.S. capital markets. The company acknowledges the potential need for additional financing to support future operations.
SEC Filing: