Thu, Dec 19, 6:58 PM (24 days ago)
Born, Inc. (Ticker: BORN), formerly Quture International, reported no revenues and a net loss of $2,303,300 for the eight months ended December 31, 2020, reflecting significant operating expenses of $2,303,300. The company has a working capital deficit of $5,803 and an accumulated deficit of $29,782,799. Born is classified as a smaller reporting company and an emerging growth company, with no current operations since being dormant from February 2021 until July 2023. Strategically, the company aims to explore business opportunities, potentially through reverse mergers, but faces risks including economic conditions and operational uncertainties. Management anticipates continued losses and has raised funds through related-party loans. The financial condition is precarious, with substantial doubt about the ability to continue as a going concern. Recent changes include a name change and a reverse stock split (1:1000) to reduce the number of authorized shares from 2.5 billion to 500 million. The company’s market position remains weak, and it lacks substantial operational history, making it a speculative investment. Future plans hinge on identifying viable business combinations and raising additional capital.