Mon, Jul 15, 3:33 PM (54 days ago)
X1 Capital Inc.'s Q3 2024 10-Q filing reports no revenue and no expenses incurred to date, as all costs have been covered by Alternative Risk Strategies LLC (ARS). The company was incorporated on July 25, 2023, and has not made any investments yet. The only capital received is a $2,000 contribution from the CEO and an independent board member. X1 Capital plans to invest in high-growth private companies, primarily through senior secured term loans and, to a lesser extent, equity investments. Future expenses post-initial close will include professional fees, regulatory fees, and overhead, capped at 0.5% of assets under management per quarter, with excess costs borne by ARS. The company aims to qualify as a regulated investment company (RIC) under Subchapter M of the Internal Revenue Code. There are no legal proceedings, defaults, or off-balance sheet obligations reported. The company remains pre-revenue and has no outstanding debt or senior securities as of June 30, 2024.