Mon, Jan 6, 1:41 PM (42 days ago)
Born, Inc. (OTC: BRRN), formerly Quture International, reported no revenue for the fiscal year ending December 31, 2023, continuing its status as a dormant shell company. The company incurred a net loss of $21,221, increasing from a loss of $4,752 in 2022. As of December 31, 2023, total liabilities amounted to $30,117, primarily due to related-party payables. The accumulated deficit reached $117,477,124, raising substantial doubt about its ability to continue as a going concern. Management aims to explore business opportunities, potentially through a reverse merger, yet faces significant risks, including limited capital and ongoing economic uncertainties. The company has no current operations or cash flow and relies on interest-free loans from its custodian, David Lazar, for financing. The financial condition remains precarious, with a working capital deficit and no dividends expected in the foreseeable future. The stock structure includes 419,984,423 shares of common stock and 10,000,000 preferred shares, with Lazar holding significant voting rights. Future plans hinge on successfully identifying and executing a viable business strategy amidst a challenging market environment.