Tue, May 14, 3:13 PM (73 days ago)
TechCom, Inc., a Delaware-based shell company, reported in its Form 10-Q for the quarter ended March 31, 2024, that it has no operations and is actively seeking acquisition targets. The company reported no revenue and a net loss of $12,121 for the quarter, an improvement from a loss of $26,693 in the same period last year, primarily due to decreased professional and administrative expenses. The balance sheet shows total assets of $2,250, total liabilities of $216,302, and a stockholders' deficit of $214,052. The company is classified as a non-accelerated filer and a smaller reporting company, and it has not complied with certain SEC filing and electronic data submission requirements. The financial statements are prepared on a going concern basis, although the company acknowledges substantial doubt about its ability to continue, citing an accumulated deficit of $2,633,618 and ongoing needs for additional financing. TechCom emphasizes that its future is highly dependent on finding a successful merger or acquisition target.