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BRRN · Byrn, Inc.

30 filings

10-Q

BRRN 10-Q Quarterly Reports

Byrn, Inc. - 30 quarterly reports

Filing record · 2020–202610-K910-Q108-K6

2026-Q2
Byrn, Inc. Quarterly Report for Q2 Ended Jun 30, 2026
Byrn, Inc. (BRRN) reported its financial results for the quarter ended June 30, 2026. The company continues to operate without generating any revenue, reporting a net loss of $178,646 for the three-month period, an increase from the $8,472 loss in the prior year's comparable quarter. This widening loss is primarily driven by significantly increased administrative expenses. Despite the ongoing losses, the company's financial position shows a growing liabilities balance, now standing at $206,170, while its total assets remain minimal at $1,909. The company explicitly states substantial doubt regarding its ability to continue as a going concern, highlighting a need to raise additional funds and exploring various financing sources. The company is undergoing a significant strategic shift, with new management (MEDO Healthcare LLC) planning to rename the company to MEDO Technologies, Inc. The new business plan involves acquiring pharmaceutical distributors and optimizing them with AI-based technology. This transition period is characterized by substantial operational and financial uncertainties, including the need for significant capital to fund acquisitions and potential dilution to existing shareholders from future financing. Investors should closely monitor the company's ability to execute its new business plan and secure necessary funding.
Aug 14, 2026
2026-Q1
Byrn, Inc. Quarterly Report for Q1 Ended Mar 31, 2026
Bryn Inc. (BRRN) filed its quarterly report for the period ending March 31, 2026. The company continues to operate as a shell company with no current operations or revenue, primarily incurring administrative expenses. As of March 31, 2026, Bryn Inc. reported total assets of $2,178 and total liabilities of $36,440, resulting in a stockholders' deficit of $34,263. The company experienced a net loss of $30,937 for the quarter, a notable increase from the $16,410 loss in the same period last year, primarily driven by higher administrative expenses. A significant development noted is the substantial increase in outstanding common shares from approximately 419.98 million at the end of 2025 to 450 million by March 31, 2026. This increase is largely attributed to the issuance of 30,015,577 common shares to Mr. Lazar to reduce related party debt, amounting to $93,285. Furthermore, subsequent to the quarter end, on April 24, 2026, MEDO Healthcare LLC acquired 10 million shares of Series A-1 Preferred Stock and plans to rename the company to MEDO Technologies, Inc., signaling a potential shift in business direction. The company's management acknowledges substantial doubt about its ability to continue as a going concern due to insufficient working capital and plans to seek additional financing and potentially explore acquisitions.
May 19, 2026
2025-Q3
Byrn, Inc. Quarterly Report for Q3 Ended Sep 30, 2025
Byrn Inc. (BRRN) has filed its quarterly report for the nine months ended September 30, 2025. The company is a shell company with no current operations or revenue. Its primary focus is on identifying and acquiring a viable business opportunity, likely through a reverse merger, to establish a new operating entity. Management acknowledges significant operating losses and a working capital deficit, raising substantial doubt about its ability to continue as a going concern. The company is actively seeking additional financing and exploring alternative sources to fund its operations and potential acquisition. Financially, Byrn Inc. reported a net loss of $28,582 for the nine months ended September 30, 2025, compared to $25,905 for the same period in 2024. This loss is primarily driven by administrative expenses. The company has minimal liabilities, with the majority being related party payables to its custodian, David Lazar, who is providing interest-free demand loans. Byrn Inc. has a substantial accumulated deficit and no cash or cash equivalents.
Oct 21, 2025
2025-Q2
Byrn, Inc. Quarterly Report for Q2 Ended Jun 30, 2025
Byrn, Inc. (BRRN) has filed its quarterly report for the six months ended June 30, 2025. The company is currently a shell company with no operations or revenue, and its primary focus is on identifying and acquiring a viable business, likely through a reverse merger. The balance sheet as of June 30, 2025, shows total assets of $0 and total liabilities of $81,468, resulting in a significant stockholders' deficit of $117,546,993. Financially, Byrn, Inc. reported no revenue and operating expenses of $24,882 for the six months ended June 30, 2025, leading to a net loss of $24,882 for the period. The company has a substantial accumulated deficit and is heavily reliant on interest-free demand loans from its CEO, David Lazar, to fund its minimal operations and ongoing expenses. There is substantial doubt about the company's ability to continue as a going concern, necessitating future fundraising efforts, which are expected to be dilutive to existing shareholders.
Jul 24, 2025
2025-Q1
Byrn, Inc. Quarterly Report for Q1 Ended Mar 31, 2025
Byrn, Inc. (BRRN) filed its quarterly report for the period ended March 31, 2025, revealing a company with no current operations and significant financial challenges. The company generated no revenue and incurred operating expenses primarily related to administrative costs. As a "shell company," Byrn Inc. is actively seeking a business to acquire through a reverse merger or similar transaction, as it currently lacks a defined business plan or revenue-generating activities. Financially, Byrn Inc. reported a total asset value of $0 and total liabilities of $72,996 as of March 31, 2025. The company's deficit in stockholders' equity stands at $(117,538,521). The net loss for the three months ended March 31, 2025, was $16,410, a substantial increase from the $1,817 loss in the same period of the prior year, primarily due to increased administrative expenses. The company's ability to continue as a going concern is in substantial doubt, as it relies on interest-free demand loans from its CEO, David Lazar, and must secure additional financing to fund future operations, which may lead to significant dilution for existing shareholders.
May 21, 2025
2024-Q1
Byrn, Inc. Quarterly Report for Q1 Ended Mar 31, 2024
Born, Inc. (BRRN) filed its quarterly report for the period ending March 31, 2024, revealing a company with no active operations and significant financial challenges. The company reported zero revenue for both the three months ended March 31, 2024, and March 31, 2023. Operating expenses were minimal, consisting primarily of administrative expenses related to a party mentioned as David Lazar, resulting in net losses of $1,817 and $2,188 for the respective periods. The company's balance sheet as of March 31, 2024, shows total assets of $0 and total liabilities of $31,934, leading to a substantial stockholders' deficit of $117,478,941. Born, Inc. explicitly states it has 'No Current Operations' and its 'Plan of Operation' involves exploring and identifying business opportunities, potentially through a reverse merger or asset acquisition. The company acknowledges a severe lack of capital, with existing operational cash flow insufficient to fund anticipated operations for the next 12 months. Management is relying on interest-free demand loans from David Lazar and anticipates needing to raise additional funds through equity or debt issuances. Investors should be aware that the company is a shell company, carries a going concern warning due to its negative working capital and accumulated deficit, and its plan of operation carries substantial risks, including potential dilution from future financings.
Jan 13, 2025
2024-Q3
Byrn, Inc. Quarterly Report for Q3 Ended Sep 30, 2024
Byrn Inc. (BRRN) filed its quarterly report for the period ending September 30, 2024, revealing a company with no current operations or revenue. The balance sheet indicates a complete absence of assets, with liabilities primarily consisting of accounts payable and related party payables. The company is in a significant stockholders' deficit position, underscoring its precarious financial state. Financially, Byrn Inc. reported net losses for both the three and nine-month periods ending September 30, 2024, with operating expenses primarily comprising administrative costs. Cash flow statements show a negative cash flow from operations, with the company relying on related party loans for financing. Management explicitly states the company has no operations and is actively seeking a business combination, such as a reverse merger, to identify new business opportunities. The report also highlights material weaknesses in internal controls over financial reporting due to limited resources and lack of an independent board or audit committee.
Jan 13, 2025
2024-Q2
Byrn, Inc. Quarterly Report for Q2 Ended Jun 30, 2024
Born, Inc. (BRRN) filed its quarterly report for the period ended June 30, 2024, highlighting its status as a "shell company" with no current operations or revenue. The company has incurred operating losses since inception and relies on interest-free demand loans from its custodian, David Lazar, to fund its minimal expenses. Management's plan of operation involves exploring potential business opportunities, likely through a reverse merger or acquisition of an operating entity, but acknowledges significant risks associated with identifying and executing such a transaction due to limited capital and market competition. The company continues to face substantial doubt regarding its ability to continue as a going concern, with a working capital deficit of $34,227 and a total stockholders' deficit of $117,481,233 as of June 30, 2024. Management has identified material weaknesses in internal control over financial reporting, including a lack of segregation of duties and an independent board of directors, with plans to address these post-acquisition. Investors should note the significant dilution risk associated with future equity issuances and the high-risk nature of investing in a company seeking to acquire an operating business without existing operations.
Jan 13, 2025
2020-Q3
Byrn, Inc. Quarterly Report for Q3 Ended Oct 31, 2020
Born, Inc. (formerly Quture International, Inc.) filed its 10-Q for the period ending October 31, 2020, revealing a company in transition with significant operational and financial restructuring. The company has been largely dormant since March 2013 and is now positioning itself for new business operations following a name change and a significant 1-for-1,000 reverse stock split. A controlling stake was acquired by FiveT Capital Holding AG in September 2020, accompanied by leadership changes and the forgiveness of significant related party debt. Financially, the company reported zero revenue and a net loss of $2,036 for the three months ended October 31, 2020. However, for the six months ended October 31, 2020, it reported a net income of $2,436,673, largely driven by a gain from the extinguishment of debt. The balance sheet as of October 31, 2020, shows zero assets and zero liabilities, with total stockholders' deficit also at zero, a significant shift from April 30, 2020, which had substantial current liabilities. The company continues to face substantial doubt regarding its ability to continue as a going concern and is actively exploring financing options.
Dec 4, 2020
2020-Q3
Byrn, Inc. Quarterly Report for Q3 Ended Jul 31, 2020
Quture International, Inc. (BRRN) presents a complex financial picture in its Q3 2020 10-Q filing. The company, which has been dormant for a significant period, is undergoing a transition under new management. A substantial gain from the extinguishment of prior liabilities ($2.45 million) significantly impacted the net income for the three months ended July 31, 2020, turning a historical deficit into a reported profit. However, this gain masks the ongoing operational challenges and the company's precarious financial condition. Despite the reported net income, Quture International faces substantial going concern doubts. The company has a history of operating losses, minimal revenue, and a working capital deficit. It relies heavily on interest-free demand loans from its controlling party, David Lazar, to fund its operations. The plan of operation involves seeking synergistic acquisitions or joint ventures, but there is no assurance of success. Investors should note the material weaknesses in internal controls and the ineffectiveness of its disclosure procedures, stemming from the company's dormant period and current management structure.
Aug 3, 2020
2013-Q1
Byrn, Inc. Quarterly Report for Q1 Ended Jan 31, 2013
Quture International, Inc. (BRRN) filed its 10-Q for the quarter ended January 31, 2013, reporting significant financial challenges. The company experienced a net loss of $1.92 million for the nine-month period, compared to $1.48 million in the prior year, with revenues declining to $21,000 from $40,900. Operating expenses also saw a slight increase. The balance sheet reflects a severe liquidity crunch, with cash and cash equivalents at a mere $3,186 and a working capital deficiency of approximately $2.97 million. The company explicitly states that these conditions raise substantial doubt about its ability to continue as a going concern. Quture International's survival is contingent upon its ability to generate revenue and secure significant investment capital or loans. Management is actively seeking funding through equity or debt offerings, but acknowledges the potential for dilution and the risk of business cessation if financing is unsuccessful. Investors should note the company's heavy reliance on external funding and its ongoing struggle to achieve profitability.
Mar 22, 2013
2012-Q3
Byrn, Inc. Quarterly Report for Q3 Ended Oct 31, 2012
Quture International, Inc. (BRRN) filed its Form 10-Q for the quarterly period ended October 31, 2012, reporting significant challenges in its financial position and operational execution. The company continues to operate at a substantial loss, with a net loss of $1,576,664 for the six-month period ended October 31, 2012, compared to $341,782 in the prior year period. This widening loss is driven by escalating operating expenses, particularly in salaries, software development, and warrant-related costs, which significantly outpaced minimal revenue generation of $21,000 for the same period. The company's balance sheet reflects a precarious financial state, with cash and cash equivalents dwindling to just $75 at quarter-end, and a substantial working capital deficit. Quture International's ability to continue as a going concern is in doubt, as explicitly stated by management, due to its accumulated losses and reliance on external financing. The company acknowledges its dependence on future financing through private placements or debt, which will likely result in significant dilution for existing shareholders. Investors should note the company's ongoing efforts to develop its QualOptima product, leveraging InterSystems technology, and its reliance on continued investment and eventual revenue generation for survival.
Dec 26, 2012
2012-Q3-A
Byrn, Inc. Quarterly Report (Amendment) for Q3 Ended Jul 31, 2012
Quture International, Inc. (BRRN) filed an amendment to its quarterly report for the period ending July 31, 2012. The company, a smaller reporting entity, continues to face significant financial challenges, characterized by a substantial operating loss and a working capital deficit. Revenue remains minimal, with a slight decrease compared to the prior year's period. Operating expenses have significantly increased, primarily driven by software development costs and salaries/management fees. Despite these challenges, Quture is actively working on developing and demonstrating its healthcare software products, QualOptima and QSurg, in partnership with InterSystems Corporation. The company is pursuing a go-to-market strategy focused on reference hospital installations and collaborations with healthcare law and accounting firms. However, the company's ability to continue as a going concern is dependent on its success in securing additional financing through equity or debt, with significant dilution to existing shareholders being a likely outcome. Without successful fundraising, the company may be forced to cease operations, leading to a total loss for investors.
Oct 16, 2012
2012-Q3
Byrn, Inc. Quarterly Report for Q3 Ended Jul 31, 2012
Quture International, Inc. (BRRN) has filed its quarterly report for the period ending July 31, 2012. The company is operating under substantial doubt regarding its ability to continue as a going concern, with significant operating losses, a working capital deficit, and a very low cash balance of $5,420. While the company is developing medical software solutions, its revenue remains minimal, with $9,000 for the quarter, a decrease from $10,800 in the prior year. Operating expenses significantly increased to $357,640 from $108,106 in the prior year's quarter, leading to a net loss of $553,485 for the period, compared to a loss of $98,418 in the same period last year. The company's primary focus is the development and demonstration of its QualOptima and QSurg software products, which leverage InterSystems technology to measure clinical performance and improve patient outcomes. Management plans to fund ongoing operations and development through additional equity or debt financing, acknowledging that such financing will likely result in dilution for existing shareholders. Without successful capital raising, the company may be forced to cease operations, leading to a complete loss of investment for shareholders.
Sep 19, 2012
2012-Q1
Byrn, Inc. Quarterly Report for Q1 Ended Jan 31, 2012
Techs Loanstar, Inc. (now operating under the business plan of Quture, Inc. following a share exchange) reported significant operational challenges and a continued lack of revenue for the nine months ended January 31, 2012. The company incurred a substantial net loss of $1,484,309 on minimal revenue of $40,900 during this period. Operating expenses, particularly salaries, software development, and warrant costs, increased dramatically compared to the prior year. The balance sheet reflects a growing deficit, with liabilities significantly exceeding assets. The company's ability to continue as a going concern is in doubt, heavily reliant on future equity or debt financing, with no assurance of success. Investors should be aware of the significant dilution risk and the potential loss of their entire investment should financing not materialize.
Mar 21, 2012
2011-Q3
Byrn, Inc. Quarterly Report for Q3 Ended Oct 31, 2011
Techs Loanstar, Inc. (now operating as Quture, Inc. following a reverse merger) filed its quarterly report for the period ended October 31, 2011. The company has undergone a significant business transformation, with Quture, a healthcare knowledge solutions company, becoming the primary operating entity. The financial statements reflect Quture's historical results consolidated with Techs Loanstar from August 9, 2011. Financially, the company continues to operate at a loss, with significant operating expenses, particularly in software development and professional fees. A substantial increase in liabilities is noted, including convertible notes and derivative liabilities, alongside a continuing stockholders' deficit. The company acknowledges substantial doubt about its ability to continue as a going concern due to its limited revenue and ongoing losses, and is dependent on future financing. Investors should be aware of the company's evolving business strategy focused on healthcare performance and outcomes measurement, leveraging a partnership with InterSystems. However, the financial precariousness, the need for ongoing capital raises (which will likely cause dilution), and the material weaknesses in internal controls are critical factors for any potential investor to consider.
Dec 19, 2011
2011-Q3-A
Byrn, Inc. Quarterly Report (Amendment) for Q3 Ended Jul 31, 2011
Techs Loanstar, Inc. (BRRN) filed an amended 10-Q for the quarterly period ended July 31, 2011. This amendment, filed on October 14, 2011, serves solely to furnish Exhibit 101, which contains the financial statements and related notes from the original Form 10-Q formatted in XBRL. Importantly, this amendment does not introduce any new information or update prior disclosures; it merely provides the XBRL version of the previously filed financial data. The company confirms it has filed all required reports for the preceding 12 months and is subject to such requirements for the past 90 days. As of the filing date, Techs Loanstar, Inc. is classified as a smaller reporting company and is not a shell company.
Oct 14, 2011
2011-Q3
Byrn, Inc. Quarterly Report for Q3 Ended Jul 31, 2011
Techs Loanstar, Inc. (BRRN) reported its financial results for the quarterly period ended July 31, 2011. As a development stage company, Techs Loanstar continues to face significant financial challenges, including a lack of revenue and substantial operating losses. The company's cash balance remains critically low at $4,161, raising substantial doubt about its ability to continue as a going concern. Management's plans to fund future operations rely heavily on securing additional equity or debt financing, with no assurance of availability on acceptable terms. The company underwent a reverse acquisition with ZenZuu USA, Inc. in February 2010, where ZenZuu is treated as the accounting acquirer. This transaction significantly impacted the share structure and reporting. Notably, the company has experienced substantial stock-based compensation expenses and has a history of issuing stock to settle liabilities, leading to significant shareholder dilution. The acquisition of Quture, Inc. was subsequently consummated in August 2011, shortly after the reporting period, which is expected to significantly alter the company's structure and ownership. Investors should be aware of the company's precarious financial position, its reliance on external financing, and the ongoing dilution risk. The company's disclosure controls and procedures were deemed not effective due to material weaknesses, further highlighting internal control concerns.
Sep 14, 2011
2010-Q3-A
Byrn, Inc. Quarterly Report (Amendment) for Q3 Ended Jul 31, 2010
Techs Loanstar, Inc. (BRRN) filed an amended 10-Q for the period ended July 31, 2010. This filing represents a development stage company with significant going concern issues. The company had extremely limited cash ($22) at the end of the period and generated no revenue during the quarter, reporting a net loss of $272,007. The company's ability to continue operations is highly dependent on its ability to raise additional capital through equity or debt financing, failing which it may be forced to cease operations. Significant accounting adjustments were made in this amended filing, including the reclassification of an impairment of license charge from 'other expenses' to 'operating expenses' and adjustments related to a reverse merger with ZenZuu USA, Inc. (ZZUSA).
Jun 20, 2011
2011-Q1-A
Byrn, Inc. Quarterly Report (Amendment) for Q1 Ended Jan 31, 2011
Techs Loanstar, Inc. (BRRN) filed an amendment to its Form 10-Q for the period ended January 31, 2011, which included restatements for certain financial statement items and an update on disclosure controls. As a development stage company, Techs Loanstar is still heavily focused on business development and has not generated significant revenue to date. The company's financial position remains precarious, with a substantial accumulated deficit and minimal cash on hand, highlighting a significant going concern risk. Management anticipates needing additional capital to fund its business plan and operations, with potential equity or debt financing that could lead to shareholder dilution. The amendment specifically addresses reclassifications within its Statements of Operations, Shareholders' Deficit, and Cash Flows, including moving the impairment of license expense to operating expenses. Additionally, management disclosed that its disclosure controls and procedures were not effective. Investors should be aware of the company's ongoing need for financing and the associated risks, as well as the company's limited operational history and lack of revenue generation.
Jun 20, 2011
2010-Q3-A2
Byrn, Inc. Quarterly Report (Amendment) for Q3 Ended Oct 31, 2010
This 10-Q/A filing for Techs Loanstar, Inc. for the period ending October 31, 2010, is an amendment to a previously filed report, primarily to include information on disclosure controls and procedures and reclassifications. As a development stage company, Techs Loanstar reported no revenue for the quarter and incurred significant operating and other expenses, leading to a net loss of $210,661 for the three months ended October 31, 2010. The company's financial position is characterized by a substantial stockholders' deficit of $1,067,445 and limited cash on hand ($12,512). Management expresses substantial doubt about the company's ability to continue as a going concern, citing insufficient cash to fund operations for the next twelve months and the need to raise additional capital through equity or debt financing, which may result in shareholder dilution. The company completed a significant share exchange transaction with ZenZuu USA, Inc. in February 2010, which was accounted for as a reverse acquisition. This resulted in ZenZuu being treated as the continuing entity for reporting purposes. The company also has a licensing agreement for a social database and advertising revenue-share model, with a significant portion of the license fee remaining payable. Significant events during the period included the formation of a subsidiary for online contests and a failed marketing campaign, along with the issuance of common stock for consulting services and settlement of liabilities. Management acknowledges material weaknesses in internal controls over financial reporting that have not been remediated due to limited resources.
Jun 20, 2011
2011-Q1
Byrn, Inc. Quarterly Report for Q1 Ended Jan 31, 2011
Techs Loanstar, Inc. (BRRN) filed its quarterly report for the period ending January 31, 2011, revealing a company in its development stage with significant ongoing financial challenges. The company continues to operate at a substantial loss, with minimal revenue generated since inception, relying heavily on financing activities to sustain operations. Management explicitly states that without further capital infusion, the company may be forced to cease operations, highlighting a significant going concern risk for investors.
Mar 17, 2011
2010-Q3
Byrn, Inc. Quarterly Report for Q3 Ended Oct 31, 2010
Techs Loanstar, Inc. (BRRN) has filed its quarterly report for the period ended October 31, 2010. As a development stage company, Techs Loanstar is focused on developing a website for online contests. The company has undergone a significant change of control through a share exchange with ZenZuu USA, Inc., with ZenZuu treated as the accounting acquirer. As of the reporting period, the company has minimal cash on hand ($12,512) and a substantial accumulated deficit of $1,880,407. The company is heavily reliant on external financing to fund its operations and business plan, with management expressing substantial doubt about its ability to continue as a going concern. The primary focus for future operations includes developing its website and marketing campaigns, which will require significant additional capital. There is a clear risk that investors could lose their entire investment if the company fails to secure necessary funding.
Dec 14, 2010
2010-Q3
Byrn, Inc. Quarterly Report for Q3 Ended Jul 31, 2010
Techs Loanstar, Inc. (BRRN) has filed its quarterly report for the period ended July 31, 2010. The company is a development-stage entity with no revenue generated during the quarter, nor has it generated significant revenue since its inception. Total assets are nominal, primarily consisting of prepaid assets, with cash significantly depleted. Liabilities are substantial, including accounts payable and related party payables, alongside convertible notes. The company continues to incur significant losses, with a net loss of $272,007 for the quarter and an accumulated deficit of $1,669,746 since inception. The company's financial condition raises substantial doubt about its ability to continue as a going concern. Management acknowledges that current cash is insufficient for the next twelve months and plans to raise additional capital through equity or debt financing, which will likely result in dilution for existing shareholders. Failure to secure this financing could lead to the cessation of business operations and a total loss for investors.
Sep 14, 2010
2010-Q1
Byrn, Inc. Quarterly Report for Q1 Ended Jan 31, 2010
Byrn, Inc. (BRRN), formerly Techs Loanstar, Inc., is a development-stage company that has not generated any revenue. As of January 31, 2010, the company reported minimal assets, primarily a small amount of cash, and significant liabilities including accounts payable and shareholder loans. The company has accumulated a substantial deficit since its inception and faces substantial going concern risks, stating that its current cash and financing activities are insufficient to cover operational needs for the next 12 months. Management plans to seek additional capital through equity and debt financing, but there is no assurance of success. A significant development occurred shortly after the period end: a Share Exchange Agreement with ZenZuu USA, Inc. (ZZUSA) was completed on February 17, 2010. Following this exchange, Byrn, Inc. ceased its historical operations and adopted ZZUSA's business plan, which involves an online social network and advertising revenue-share model. This strategic shift represents a pivot towards a new business direction, though the success of this new venture is contingent on commercializing a licensed online social database and advertising revenue-share model, and significant operations are not expected until this is achieved.
Mar 22, 2010
2009-Q3
Byrn, Inc. Quarterly Report for Q3 Ended Oct 31, 2009
Techs Loanstar, Inc. (BRRN), a development-stage company, filed its 10-Q for the quarterly period ended October 31, 2009. The company has not generated any revenue since its inception on April 7, 2006. Its primary focus is the development and procurement of proprietary loan management software for the payday and equity loan industry. The financial statements reveal a precarious financial situation, with minimal assets and significant accumulated deficits. Management acknowledges the company's dependence on external financing to fund operations for the next 12 months and beyond. The plan of operation outlines a multi-stage strategy for acquiring and customizing loan management software, coupled with marketing efforts. However, the company explicitly states that failure to raise sufficient capital will result in the cessation of operations, leading to the complete loss of investor investment. Material weaknesses in internal controls, particularly the lack of a functioning audit committee and inadequate segregation of duties, are also noted.
Dec 21, 2009
2009-Q3
Byrn, Inc. Quarterly Report for Q3 Ended Jul 31, 2009
Techs Loanstar, Inc. (BRRN) operates as a development-stage company with no revenue generated as of July 31, 2009. The company's financial statements reveal a persistent net loss and a deficit accumulated since its inception in April 2006. Management expresses substantial doubt about the company's ability to continue as a going concern, citing insufficient capital to cover operating costs and a reliance on future financing, including potential loans from its sole officer and director. The company's immediate future hinges on its ability to secure additional funding to implement its plan to develop and market proprietary loan management software.
Sep 21, 2009
2009-Q1
Byrn, Inc. Quarterly Report for Q1 Ended Jan 31, 2009
Techs Loanstar, Inc. is a development-stage company incorporated in April 2006, focused on providing loan management software applications for the payday and equity loan industry. As of January 31, 2009, the company had virtually no cash reserves ($5) and significant accumulated deficits. It has not generated any revenue since inception and continues to incur operating losses, primarily from professional fees and general administrative expenses. The company's ability to continue as a going concern is highly uncertain and dependent on obtaining substantial additional capital. Management plans to seek equity or debt financing to fund operations and develop its proprietary software, but faces significant execution risk. The company has identified material weaknesses in its internal controls, including the lack of a functioning audit committee and inadequate segregation of duties. Remediation efforts are planned, but are contingent on securing additional funds. Investors should be aware that without significant capital infusion and successful execution of its business plan, the company may be forced to cease operations, leading to a total loss of investment.
Mar 9, 2009
2008-Q3
Byrn, Inc. Quarterly Report for Q3 Ended Oct 31, 2008
Techs Loanstar, Inc. (BRRN) operates as a development-stage company with no revenue generated as of October 31, 2008. The company's primary focus is on developing and procuring proprietary loan management software for the payday and equity loan industry. As of the reporting period, the company held a minimal amount of cash ($40) and a significant accumulated deficit of $39,992, indicating a substantial need for funding to proceed with its business plan. The company acknowledges its status as a "shell company" and a "smaller reporting company." Its ability to continue as a going concern is highly dependent on securing additional capital through private placements, debt securities, or other financing. Without such funding, Techs Loanstar may be forced to suspend or cease operations entirely, putting invested capital at significant risk. Management is actively seeking capital, with an officer and director providing some short-term support via loans, but no definitive arrangements are in place. The company also disclosed material weaknesses in its internal controls over financial reporting, primarily related to the lack of an independent audit committee and inadequate segregation of duties.
Dec 9, 2008
2008-Q3
Byrn, Inc. Quarterly Report for Q3 Ended Jul 31, 2008
Techs Loanstar, Inc. (BRRN) has filed its quarterly report for the period ended July 31, 2008. The company is in the development stage and has not generated any revenue. During the three months ended July 31, 2008, the company incurred a net loss of $5,356, bringing the cumulative net loss since inception to $38,352. The company's cash balance stands at a mere $163, highlighting significant liquidity concerns. Management explicitly states that current funds are insufficient for the next 12 months and that the company will require additional financing through private equity placements, debt securities, or other sources. Failure to secure additional funding could lead to a reduction in the scope of operations or complete cessation of activities, resulting in the loss of all invested capital. The company is actively seeking to develop and license loan management software, with planned expenditures for customization, e-commerce integration, and marketing.
Sep 2, 2008