Mon, Feb 3, 4:12 PM (8 days ago)
X1 Capital Inc. (Ticker: N/A) reported its quarterly results for the period ending December 31, 2024, in its Form 10-Q. The company remains pre-revenue with total assets and net assets both at $6,000, reflecting 240 shares outstanding at a net asset value of $25.00 per share. No expenses were incurred during the quarter, as all costs were covered by Alternative Risk Strategies LLC until the anticipated Initial Close of a private offering. The company has not engaged in any investment activity yet but plans to invest primarily in senior secured term loans of private companies. Future revenue is expected from interest income and potential capital appreciation from equity investments. Key risks include economic downturns affecting portfolio companies, interest rate volatility, and the speculative nature of investments. X1 Capital aims to maintain compliance as a Business Development Company (BDC) and intends to elect as a Regulated Investment Company (RIC) for tax purposes. The management emphasizes that operational results may vary significantly based on market conditions and investment opportunities. The company is currently evaluating its liquidity and plans to generate cash through equity offerings and future investments.