01—Abstract
Summary
Summary of the 10-Q filed October 21, 2025. Cited figures are marked; the original filing is the authoritative source.
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 $28,582a 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.
02—Key points
Key Highlights
- Byrn Inc. currently has no operations or revenue and is actively seeking to acquire a business, likely through a reverse merger.
- The company faces substantial doubt regarding its ability to continue as a going concern due to significant operating losses and a working capital deficit.
- Net loss for the nine months ended September 30, 2025, was $28,582, an increase from $25,905 in the prior year period.
- Total assets are reported as $0, with liabilities primarily consisting of related party payables totaling $82,635 as of September 30, 2025.
- The company's accumulated deficit stands at $117,550,693 as of September 30, 2025.
- There are material weaknesses identified in internal control over financial reporting, including lack of segregation of duties, absence of an independent board and audit committee, and no written documentation of internal control policies.
- David Lazar, the custodian, is providing interest-free demand loans to fund the company's operations.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-QQ3 FY2025filed October 21, 2025Financial Statements
Q3 FY2025 against Q3 FY2024
| Line item | Q3 FY2025Q3 FY2024 | Change |
|---|---|---|
| Operating Expenses | $4K$22K | −83.0% |
| Operating Income | -$4K-$22K | +83.0% |
| Net Income | -$4K-$22K | +83.0% |
| Shares Outstanding (Basic) | 419.98M419.98M | 0.0% |
05—Questions
Frequently Asked Questions
What is Byrn Inc.'s current business status?
Byrn Inc. is currently a shell company with no active operations or revenue. Its stated plan is to identify and acquire a viable business opportunity, likely through a reverse merger, to establish a new operating entity.
What are the company's financial health and risks?
The company has a significant accumulated deficit of over $117 million and a working capital deficit. These factors raise substantial doubt about its ability to continue as a going concern. It relies on interest-free demand loans from its custodian, David Lazar, to fund its limited operations and pursue potential acquisitions.
What is the financial performance for the period?
For the nine months ended September 30, 2025, Byrn Inc. reported a net loss of $28,582. This is an increase from the $25,905 net loss reported for the same period in 2024. The losses are primarily due to administrative expenses, as there is no revenue-generating activity.
What are the key internal control issues identified?
The company has identified several material weaknesses in its internal control over financial reporting. These include insufficient segregation of duties due to limited resources, the absence of an independent board of directors and an audit committee, and a lack of written documentation for internal control policies and procedures.
06—Continue