01—Abstract
Summary
Summary of the 10-K filed April 15, 2025. Cited figures are marked; the original filing is the authoritative source.
Byrn, Inc. (BRRN) has filed its 2024 Form 10-K, revealing a company currently in a dormant state with no operations or revenue.
The company's history is marked by several name changes, custodianships, and a voided share exchange agreement, most recently changing its name to Byrn Inc. in July 2024. The current management intends to explore and identify viable business opportunities, likely through a reverse merger, but has not yet engaged in any discussions regarding potential business combinations. Financially, Byrn, Inc. reported minimal activity with no revenue and operating expenses primarily consisting of administrative expenses related to company operations.
The company has a significant accumulated deficit and a working capital deficit, leading its independent auditor to express substantial doubt about its ability to continue as a going concern. Funding for the company has primarily come from interest-free demand loans from David Lazar, who also serves as the sole director and officer. The company has no immediate plans for dividends and intends to retain any earnings for future development.
02—Key points
Key Highlights
- Byrn, Inc. is currently a dormant shell company with no active operations or revenue.
- The company has a history of corporate changes, including name changes and custodianships, with a recent name change to Byrn Inc. in July 2024.
- Management's plan involves seeking a business opportunity, likely through a reverse merger, but no specific targets or discussions have occurred.
- The company reported a net loss of $44,987 for the year ended December 31, 2024, and has a significant accumulated deficit.
- The independent auditor has raised substantial doubt about Byrn, Inc.'s ability to continue as a going concern due to recurring losses and negative cash flows.
- Funding is primarily provided by interest-free demand loans from David Lazar, who holds key leadership positions.
- Common stock is not quoted on any exchange, and there are no plans for dividend payments.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-KFY2024filed April 15, 2025Financial Statements
FY2024 against FY2023
| Line item | FY2024FY2023 | Change |
|---|---|---|
| Operating Expenses | $45K$21K | +112.0% |
| Operating Income | -$45K-$21K | −112.0% |
| Net Income | -$45K-$21K | −112.0% |
| Shares Outstanding (Basic) | 419.98M419.76M | +0.1% |
05—Questions
Frequently Asked Questions
What is the current operational status of Byrn, Inc.?
Byrn, Inc. is currently a dormant shell company with no operations or revenue. Management is in the process of developing a business plan and intends to explore and identify viable business opportunities, potentially through a reverse merger.
What is the company's financial health and outlook?
Financially, Byrn, Inc. reported a net loss of $44,987 for the year ended December 31, 2024, and has a significant accumulated deficit. The company has a working capital deficit, and its independent auditor has expressed substantial doubt about its ability to continue as a going concern. Future operations and success are contingent on identifying and executing a new business strategy.
Who is currently leading Byrn, Inc. and what is their background?
David Lazar is the sole director and officer, serving as President, CEO, Treasurer, CFO, and Secretary. He is a private investor with experience in assisting distressed public companies and has held leadership roles in numerous other public companies.
How is Byrn, Inc. funded, and what is its capital strategy?
The company has been funded primarily through interest-free demand loans from David Lazar. Management anticipates incurring costs related to identifying and pursuing business combinations and may need to raise additional capital through equity or debt issuances. Any future business combination is expected to be dilutive to current shareholders.
06—Continue