Yale Transaction Finders, Inc., formerly known as Yacht Finders, Inc., has released its Form 10-Q report for the third quarter of 2023. The company, currently operating as a shell entity, is focused on identifying potential targets for business combinations through asset purchases, share exchanges, mergers, or similar transactions. The report provides insights into the company's financial performance and operational strategy.
Financial Highlights
- Revenues: $0 million. The company reported no revenues for the three and nine months ended September 30, 2023, consistent with its status as a shell company.
- Operating Expenses: $22,516 for the nine months ended September 30, 2023, a decrease of 48.68% compared to $43,871 for the same period in 2022, reflecting cost management efforts.
- Net Loss: $24,678 for the nine months ended September 30, 2023, a reduction of 54.65% from the net loss of $54,417 in the same period of 2022, indicating improved financial management.
- Basic Loss Per Share: $(0.00) for the nine months ended September 30, 2023, compared to $(0.01) for the same period in 2022, showing a slight improvement in per-share performance.
Business Highlights
- Company Overview: Yale Transaction Finders, Inc. is a shell company focused on exploring potential targets for business combinations through asset purchases, share exchanges, mergers, or similar transactions.
- Operational Strategy: The company does not intend to engage in product research or development, nor does it plan to buy or sell real estate, plant, or equipment unless it is part of a business combination structured as an asset purchase.
- Management's Discretion: Management has broad discretion in selecting potential business combination candidates, with no restrictions on geographical area, industry, or industry segment.
- Future Outlook: The company plans to continue seeking a merger partner with the financial resources to address its going concern issue. The focus is on finding a profitable company to acquire, which would help generate positive cash flow.
- Going Concern: The company faces substantial doubt about its ability to continue as a going concern due to negative working capital and accumulated deficits. The continuation of operations is dependent on financial support from shareholders or obtaining necessary equity financing.
- Liquidity and Capital Resources: As of September 30, 2023, the company had minimal cash on hand and no other assets to meet ongoing expenses or debts. The company anticipates routine fees and expenses related to its reporting duties as a public company.
- Plan of Operation: The company does not expect to add additional employees except as a result of completing a business combination. Any new employees would likely be those already employed by the acquired company.
SEC Filing: