01—Abstract
Summary
Summary of the 10-Q filed May 21, 2025. Cited figures are marked; the original filing is the authoritative source.
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 $0a 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,b 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.
02—Key points
Key Highlights
- Byrn Inc. currently has no revenue-generating operations and is exploring potential business combinations, such as reverse mergers, to establish a viable business.
- The company reported $0 in total assets and total liabilities of $72,996 as of March 31, 2025.
- Stockholders' deficit increased to $(117,538,521) as of March 31, 2025, from $(117,522,111) as of December 31, 2024.
- Net loss for the three months ended March 31, 2025, was $16,410, a significant increase compared to $1,817 for the same period in 2024.
- Administrative expenses, primarily related party, increased significantly to $16,410 for the three months ended March 31, 2025, from $1,817 in the prior year.
- The company's going concern assumption is in substantial doubt due to its lack of profitability and reliance on related party financing.
- Management has identified material weaknesses in internal controls, including a lack of segregation of duties, no independent board or audit committee, and no written documentation of internal control policies and procedures.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-QQ1 FY2025filed May 21, 2025Financial Statements
Q1 FY2025 against Q1 FY2024
| Line item | Q1 FY2025Q1 FY2024 | Change |
|---|---|---|
| Operating Expenses | $16K$2K | +803.1% |
| Operating Income | -$16K-$2K | −803.1% |
| Net Income | -$16K-$2K | −803.1% |
| Shares Outstanding (Basic) | 419.76M419.76M | 0.0% |
05—Questions
Frequently Asked Questions
What is Byrn Inc.'s current business and operational status?
Byrn Inc. currently has no revenue-generating operations. It is described as a 'shell company' that is in the process of developing a business plan and actively seeking to identify and acquire a viable business opportunity, likely through a reverse merger, asset purchase, or similar transaction.
What is the company's financial health and liquidity situation?
As of March 31, 2025, Byrn Inc. reported $0 in total assets and total liabilities of $72,996. The company has a substantial stockholders' deficit of $(117,538,521) and incurred a net loss of $16,410 for the quarter. Its going concern assumption is in doubt, as it relies on interest-free demand loans from its CEO, David Lazar, and must secure additional financing.
What are the primary risks and challenges facing Byrn Inc.?
The primary risks include the lack of current operations and revenue, the uncertainty of finding and successfully completing a business combination, significant dilution to existing shareholders from future financing or acquisitions, material weaknesses in internal controls, and the potential inability to secure adequate future funding. The company also faces risks associated with the early stage of development for any potential target business.
How is the company being funded, and what is the impact on shareholders?
The company is currently being funded by its CEO, David Lazar, through interest-free demand loans. To support future operations and potential acquisitions, Byrn Inc. anticipates raising additional capital through future issuances of debt or equity securities, which will likely be very dilutive to current shareholders, especially in the context of a reverse merger where a controlling block of securities is issued to the target's shareholders.
06—Continue