BRRN · Byrn, Inc.
68 filings
BRRN SEC Filings
Byrn, Inc. - 68 total filings
BRRN filed 9 annual reports (10-K), 10 quarterly reports (10-Q) and 6 current reports (8-K) between 2020 and 2026.
- 10-K · Jul 21, 2020
- 10-Q · Aug 3, 2020
- 10-K/A · Sep 23, 2020
- 8-K · Sep 28, 2020
- 8-K · Dec 1, 2020
- 10-Q · Dec 4, 2020
- 8-K · Feb 10, 2021
- 8-K · Feb 16, 2021
- 10-K · Dec 19, 2024
- 10-K/A · Dec 19, 2024
- 10-K · Dec 30, 2024
- 10-K · Jan 3, 2025
- 10-K · Jan 6, 2025
- 10-Q · Jan 13, 2025
- 10-Q · Jan 13, 2025
- 10-Q · Jan 13, 2025
- 10-K · Apr 15, 2025
- 10-Q · May 21, 2025
- 10-Q · Jul 24, 2025
- 10-Q · Oct 21, 2025
- 10-K · Apr 2, 2026
- 8-K · May 11, 2026
- 10-Q · May 19, 2026
- 10-Q · Aug 14, 2026
- 8-K · Sep 16, 2026
Byrn, Inc. 8-K Report, Bylaw Amendment (Sep 16, 2026)
Byrn, Inc. (BRRN) has filed an 8-K announcing significant corporate changes set to take effect on September 23, 2026. Most notably, the company will undergo a substantial one-for-one-hundred-thousand (1-for-100,000) reverse stock split. This action is designed to dramatically reduce the number of outstanding shares. Additionally, the company will officially change its name to MEDO Technologies, Inc., and has applied to trade under the ticker symbol "MEDO". This reverse stock split is an aggressive move that will impact all shareholders. Those holding fewer than 100,000 shares prior to the split will receive a nominal cash payment of $0.00007 per share, effectively cashing them out. Holders of 100,000 or more shares will have fractional shares rounded up to the nearest whole share. The adjusted trading is expected to commence on the OTCID Market on September 24, 2026, with a new CUSIP number. Investors should carefully consider the implications of this significant share consolidation.
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.
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.
Byrn, Inc. 8-K Report, Change in Control (May 11, 2026)
Byrn, Inc. (BRRN) has undergone a significant change in control and leadership. MEDO Healthcare LLC has acquired a controlling stake of approximately 84.7% of the company's voting power through the purchase of 10 million shares of Series A-1 Preferred Stock for $175,000. This transaction, which occurred on April 24, 2026, has resulted in a substantial shift in beneficial ownership, with Jean Christophe Chopin now holding 63.1% of the common stock, but MEDO Healthcare LLC wielding dominant voting power due to the preferred stock. Concurrently, David Lazar has resigned as the sole director and officer. John Leo has been appointed as the new Chief Executive Officer and sole director, and Arthur Magee has been appointed as CFO and Secretary. Both Leo and Magee bring extensive experience in investment banking and corporate finance from Primary Capital LLC, suggesting a strategic focus on financial operations and potential growth initiatives.
Byrn, Inc. Annual Report, Year Ended Dec 31, 2025
Byrn, Inc. (BRRN) has filed its 2025 Form 10-K, presenting a financial picture characterized by a "dormant shell" status and significant going concern issues. The company has no current operations or revenue, and its financial statements reflect recurring losses and a substantial accumulated deficit. Management is actively seeking to identify a viable business opportunity, potentially through a reverse merger, to revitalize the company. However, there is substantial doubt about its ability to continue as a going concern, necessitating further fundraising. Investors should note that the company has a complex corporate history involving name changes, share restructurings, and a voided share exchange. Currently, the company operates with a single director and officer, David Lazar, who also serves as CEO, CFO, and other key roles. The lack of operational activity, coupled with the ongoing need for capital and the inherent risks of acquiring an unknown business, positions Byrn, Inc. as a highly speculative investment at this stage.
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.
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.
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.
Byrn, Inc. Annual Report, Year Ended Dec 31, 2024
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.
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.
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.
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.
Byrn, Inc. Annual Report, Year Ended Dec 31, 2023
Born, Inc. (BRRN) has filed its 10-K for the fiscal year ending December 31, 2023. The company is currently a dormant shell with no operations or revenue. Its historical business focus was on healthcare knowledge solutions and medical software, but it has undergone significant corporate changes, including name changes, reverse stock splits, and custodianship periods. The company's immediate plan is to explore and identify viable business opportunities in the U.S., potentially through a reverse merger with an operating entity. Management anticipates further capital raises and significant dilution to existing shareholders as part of this process. Financially, Born, Inc. reported minimal administrative expenses and a net loss of $21,221 for 2023, a slight increase from a $4,752 loss in 2022. The company has a substantial accumulated deficit of over $117 million and a working capital deficit, leading its auditors to express substantial doubt about its ability to continue as a going concern. The company relies on interest-free demand loans from its related party custodian, David Lazar, to fund operations. There is no active trading market for the company's common stock.
Byrn, Inc. Annual Report, Year Ended Dec 31, 2022
Born, Inc. (BRRN) presents a complex financial picture in its 2025 10-K filing, primarily characterized by its status as a "shell company" with no current operations or revenue. The company has a history of dormancy and significant corporate changes, including a name change and a voided share exchange agreement. The financial statements reveal a substantial accumulated deficit and negative shareholders' equity, leading to "substantial doubt" from auditors regarding its ability to continue as a going concern. Management is actively seeking a viable business opportunity, likely through a reverse merger, to inject operations and revenue into the company. Investors should note the significant dilution risk associated with potential future financing and the inherent uncertainties of investing in a company in this developmental stage.
Byrn, Inc. Annual Report, Year Ended Dec 31, 2021
Born, Inc. (BRRN) filed its 10-K for the period ending December 31, 2021, indicating the company is a smaller reporting company and an emerging growth company. The filing reveals that Born, Inc. is currently a dormant shell company with no ongoing operations or revenue. The company has a complex corporate history involving changes in name, structure, and custodianship. Notably, the company experienced a significant goodwill impairment of $87,670,010 in February 2021 related to a voided share exchange agreement with Alkeon Creators, Inc. The auditors have expressed substantial doubt about the company's ability to continue as a going concern due to recurring losses and negative cash flows. Management's plan involves exploring and identifying viable business opportunities, potentially through a reverse merger with an operating entity. However, the company lacks sufficient working capital for the next 12 months and anticipates the need for further financing, which may result in significant dilution for existing shareholders. The company's common stock is not quoted on any exchange, and no dividends are currently paid or anticipated. Investors should be aware of the high-risk profile associated with a dormant shell company seeking a future business combination.
Byrn, Inc. Annual Report, Year Ended Dec 31, 2020
Born, Inc. (BRRN) is a holding company currently classified as a shell company with no ongoing operations or revenue as of its latest SEC filing on December 19, 2024. The company has undergone significant corporate changes, including name changes, reverse stock splits, and shifts in control, with a history of dormancy and a voided share exchange agreement. Management is actively seeking to identify and acquire a viable business, likely through a reverse merger, to re-establish operations. However, the company faces substantial risks due to its limited capital, potential for further dilution through future financing or acquisitions, and the inherent uncertainties of acquiring an early-stage or financially unstable entity. Investors should note that Born, Inc. is a smaller reporting company and an emerging growth company, which allows for certain regulatory accommodations. The company's financial statements indicate a history of significant operating losses and a substantial accumulated deficit, raising substantial doubt about its ability to continue as a going concern. The company has no current plans for dividend payments and anticipates incurring further operating losses in the near term related to SEC reporting obligations and the search for a business combination.
Byrn, Inc. Annual Report (Amendment), Year Ended Apr 30, 2020
Born Inc. (BRRN) filed an amendment to its 2020 10-K, primarily to replace its auditor due to an SEC order against the former firm. This amendment also includes a restatement of financial statements for the year ended April 30, 2019, which now shows a net income of $1,482,735, a significant improvement from the previously reported $0. This change is attributed to a gain from the extinguishment of $1,492,855 in debt due to the expiration of the statute of limitations on third-party and related-party debt, which was not accounted for in the original filing. The company has been largely dormant since 2013, with new management appointed in late 2019. Born Inc. is currently a shell company actively seeking investment opportunities through synergistic acquisitions or joint ventures. It operates as a 'smaller reporting company' and has no employees, no research and development activities, and no physical office facilities beyond a mailing address. The company's stock is traded on the OTC Pink Sheets and is considered a penny stock, with associated trading risks and potential difficulty for investors to sell shares.
Byrn, Inc. 8-K Report, Material Agreement (Feb 16, 2021)
This 8-K filing from Born, Inc. (BRRN) details a significant corporate transformation, primarily through a share exchange agreement with Alkeon Creators, Inc. effective February 16, 2021. This transaction has been accounted for as a recapitalization, with Alkeon being the accounting acquirer. This strategic move has effectively resulted in a reverse merger, with the former stockholders of Alkeon now holding a majority of the outstanding common stock and Born, Inc. ceasing to be a shell company. The company has also undergone a name change from Quture International, Inc. to Born Inc. and a 1-for-1,000 reverse stock split. The company is repositioning itself as a holding company specializing in digital, data-led solutions for retail supply chains, operating through its subsidiary Alkeon. Alkeon provides B2B solutions for digitizing tradeshows and showrooms, alongside the Born.com platform that connects luxury design brands with retailers. The business model is primarily subscription-based. The filing also highlights a change in leadership with Mr. Jean Christophe Chopin appointed as the sole officer and director, replacing Mr. Wieland Kreuder.
Byrn, Inc. 8-K Report, Bylaw Amendment (Feb 10, 2021)
Born, Inc. (BRRN) has filed an 8-K report to announce a significant change in its fiscal year-end. Effective February 4, 2021, the company's Board of Directors approved the shift of its fiscal year-end from its previous date to December 31st. This strategic decision aims to align the company's reporting calendar with that of its intended subsidiary, Alkeaon Creators Inc. This alignment is crucial for streamlining financial reporting and operational management as the company potentially integrates Alkeaon Creators Inc. Investors should note this change as it will impact the timing of future financial statements and reporting periods. The company has also provided the relevant Board of Directors' resolutions as an exhibit to this filing, supporting the official nature of this change. No other material financial or operational updates were disclosed in this filing.
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.
Byrn, Inc. 8-K Report, Bylaw Amendment (Dec 1, 2020)
Byrn, Inc. (BRRN), formerly Quture International, Inc., has filed an 8-K report detailing significant corporate actions taken on November 24, 2020, and effective December 1, 2020. The company has officially changed its name to Byrn, Inc. and executed a 1-for-1,000 reverse stock split. These changes are strategically positioned in anticipation of the company entering a new line of business operations. Investors should note that FINRA has declared these changes effective as of December 1, 2020. Furthermore, the company was informed that its ticker symbol will be updated to BRRN within twenty business days. This rebranding and restructuring signals a potential shift in the company's strategic direction, and investors should monitor future filings for details regarding the new business ventures.
Byrn, Inc. 8-K Report, Change in Control (Sep 28, 2020)
This 8-K filing by Quture International, Inc. (BRRN) on September 28, 2020, announces a significant change in control. FiveT Capital Holding AG has acquired approximately 50.2% of the company's voting rights on a fully diluted basis through the purchase of 10,000,000 shares of Series A Convertible Preferred Stock for $265,000. This transaction makes FiveT Capital Holding AG the new controlling shareholder. Concurrently, the filing details a complete overhaul of the company's leadership. David Lazar has resigned from all officer and director positions, including CEO, CFO, President, and Secretary. Wieland Kreuder has been appointed as the new President, CEO, CFO, Treasurer, Secretary, and Chairman of the Board of Directors. Mr. Kreuder brings extensive experience from FiveT Capital AG. Additionally, the company has amended its Certificate of Designation for Series A preferred stock, significantly altering its conversion and voting rights.
Byrn, Inc. Annual Report (Amendment), Year Ended Apr 30, 2020
Quture International, Inc. (QUTR) presents a unique filing as a "smaller reporting company" and "shell company" with a significant history of dormancy. The company was dormant from March 2013 until December 2019 when new management, led by David Lazar, was appointed as custodian. As of the filing date (September 23, 2020, for the fiscal year ended April 30, 2020), Quture has no employees, no research and development activities, and no registered intellectual property. The company's stated business objective is to seek synergistic acquisitions or joint ventures. However, it has not generated any revenue since inception and is heavily reliant on financing from its sole director, David Lazar, who provided a $42,560 interest-free loan and was granted significant super-voting preferred stock. The company's financial statements present substantial doubt about its ability to continue as a going concern, with a significant working capital deficit and a disclaimer of opinion from its auditors due to insufficient audit evidence from the prior dormant period. Investors should be aware that Quture International, Inc. is in the very early stages of its business plan under new management. The company has no active operations, no revenue, and a history of dormancy. Its future prospects are entirely dependent on its ability to successfully identify and execute acquisitions or joint ventures, which is highly uncertain. The significant dilution and control represented by the preferred stock issued to David Lazar also warrant careful consideration. The company's stock is traded on the OTC Pink Sheets, which typically involves thin trading and price volatility.
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.
Byrn, Inc. Annual Report, Year Ended Apr 30, 2020
Quture International, Inc. (BRRN) presents a complex picture in its July 21, 2020, 10-K filing, highlighting a company that has been dormant for an extended period and is now under new management with a stated intention to pursue synergistic acquisitions or joint ventures. As a smaller reporting company and a shell company, its primary focus appears to be on strategic re-engagement rather than existing operations, as it generated no revenue and has no employees. The company is heavily reliant on its sole director and officer, David Lazar, who also serves as its custodian, for funding and operational direction. Significant events include the appointment of Mr. Lazar as custodian and subsequently as the sole director and officer. A substantial issuance of preferred shares to Mr. Lazar with super-voting rights significantly alters the capital structure. Investors should note the substantial going concern doubt expressed by the auditors due to significant operating losses and a working capital deficit, underscoring the need for additional capital. The company's stock is traded on the OTC Pink Sheets, characterized by low liquidity and volatile pricing, and is subject to penny stock regulations, making it difficult for investors to sell shares. The independent auditors issued a disclaimer of opinion on the financial statements due to insufficient records and inability to obtain sufficient audit evidence.
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.
Byrn, Inc. 8-K/A Report, Auditor Change (Mar 11, 2013)
Quture International, Inc. (BRRN) filed an amendment to its Form 8-K on March 11, 2013, to correct a date referenced in a prior filing. The primary focus of this amended filing is to disclose a change in the company's independent registered public accounting firm. Effective March 4, 2013, the company terminated its relationship with R.R. Hawkins & Associates International, PC ('Hawkins'). This change in auditors is significant for investors as it comes with specific disclosures regarding the prior auditor's reports. While Hawkins' reports for the fiscal years ended April 30, 2012, and 2011, did not contain any adverse opinions or disclaimers, they did include an explanatory paragraph raising substantial doubt about the company's ability to continue as a going concern. Importantly, the company states there were no disagreements with Hawkins on accounting principles, financial statement disclosures, or auditing procedures that would have led to a reference in Hawkins' reports.
Byrn, Inc. 8-K Report, Auditor Change (Mar 8, 2013)
Quture International, Inc. (formerly Byrn, Inc.) filed an 8-K on March 8, 2013, reporting a change in its independent registered public accounting firm. The company dismissed R.R. Hawkins & Associates International, PC, effective March 4, 2013. The prior auditor's reports contained an explanatory paragraph highlighting substantial doubt about the company's ability to continue as a going concern, though there were no disagreements on accounting principles or financial reporting. Subsequently, on March 5, 2013, Quture International engaged DKM Certified Public Accountants as its new auditor. The company stated that it did not consult with DKM prior to this engagement on any matters that would be considered reportable events. This change in auditors, especially given the going concern issue raised by the previous firm, is a significant development for investors to monitor, as it could signal underlying financial challenges or a strategic shift in how the company addresses its financial reporting.
Byrn, Inc. 8-K Report, Executive Changes (Mar 5, 2013)
Quture International, Inc. (BRRN) has filed an 8-K report detailing the resignation of Barry Hollander as Chief Financial Officer (CFO) and Director. Mr. Hollander's resignation as CFO and from the subsidiary ZenZuu USA, Inc. was effective February 28, 2013, and his departure as Director will be effective March 29, 2013. This event signifies a leadership transition within the company, prompting the search for a new CFO. Notably, the company and Mr. Hollander are negotiating a Separation and Settlement Agreement. Key terms include a $35,000 note payable for accrued and unpaid fees, to be settled in two installments of $5,000 each by March 15 and March 31, 2013. Failure to meet these payment deadlines would render the entire note immediately due. Mr. Hollander will retain his substantial beneficial ownership of 27,908,007 shares of common stock. The resignation was not due to any material disagreements with the company's operations, policies, or practices.
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.
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.
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.
Byrn, Inc. 8-K Report, Bylaw Amendment (Sep 14, 2012)
This Form 8-K filing for Techs Loanstar, Inc., now operating as Quture International, Inc., reports a significant corporate action: the official change of the company's name. The Amended and Restated Articles of Incorporation reflecting this change were filed with the Secretary of State of Nevada on February 15, 2012, and subsequently approved by FINRA on September 4, 2012. This name change, approved by shareholders and the Board of Directors, signifies a potential strategic shift or rebranding effort by the company. Investors should note that while the name change is a key event, this filing does not provide any new financial statements or details on operational performance. The primary focus is the corporate identity update. The filing also includes a press release dated September 5, 2012, which may offer further context on the reasons behind the name change and future strategic direction, though it is not detailed in this particular 8-K excerpt.
Byrn, Inc. Annual Report, Year Ended Jun 30, 2012
This 10-K filing for Techs Loanstar, Inc. (which subsequently changed its name to Quture International, Inc.) for the fiscal year ended April 30, 2012, marks a significant transition for the company. In August 2011, Techs Loanstar completed a share exchange transaction, effectively acquiring Quture, Inc. and adopting its business plan focused on developing medical software with tools and analytics to reduce healthcare costs and improve clinical performance. Consequently, the financial statements presented are primarily those of Quture, Inc. from the acquisition date forward. The company generated minimal revenue of $40,900 for the fiscal year, incurring a substantial net loss of $2,676,257. This indicates that the company is in its early stages of development and commercialization, with significant ongoing expenses related to software development and general operations. The company faces substantial risks, including a limited operating history, a need for additional financing to continue operations, and uncertainty regarding market acceptance of its innovative products.
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.
Byrn, Inc. 8-K Report, Executive Changes (Jan 19, 2012)
This Form 8-K filing by Techs Loanstar, Inc. (TCLN) reports a significant leadership change within its wholly-owned subsidiary, Quture, Inc. Effective January 13, 2012, Dr. Richard D. Fantozzi has been appointed as the Chief Executive Officer of Quture and Co-Chairman of its Board of Directors. Dr. Fantozzi brings a wealth of experience from his distinguished medical career, including leadership roles in medical boards and private practice, as well as experience in real estate investment through RDF Asset Group, Inc. His appointment is intended to leverage his prominence, expertise, and business leadership for Quture's growth. In conjunction with this appointment, Mr. G. Landon Feazell has stepped down as CEO of Quture but will retain his roles as Co-Chairman of Quture's Board and as CEO, President, and Chairman of the Board of the parent company, Techs Loanstar, Inc. The compensation for Dr. Fantozzi includes 100,000,000 restricted shares of the company's common stock and a monthly salary of $6,500.
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.
Byrn, Inc. 8-K Report, Executive Changes (Nov 9, 2011)
Techs Loanstar, Inc. (now Byrn, Inc., BRRN) filed an 8-K on November 9, 2011, to report a significant appointment. On November 7, 2011, the company appointed Dr. Reid Jilek as Chairman of its Scientific and Business Advisory Boards. This appointment brings a wealth of experience in healthcare advisory, consulting, and business development across various sectors including pharmaceuticals, diagnostics, and medical devices. Dr. Jilek's extensive background includes senior roles at Asia Pacific Alliance Company, Transgenic Sciences Inc., and Frederick Research Center, along with current VP Business Development at Eveia Medical, Inc. His compensation package includes 25,000,000 restricted shares of common stock and a monthly retainer of $5,000, contingent upon a successful capital raise of at least $500,000. This move signals a strategic effort by Techs Loanstar to bolster its expertise and potentially drive growth in the healthcare and life sciences sectors.
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.
Byrn, Inc. 8-K/A Report, Material Agreement (Sep 22, 2011)
This Form 8-K/A filing by Techs Loanstar, Inc. (now effectively Quture, Inc.) announces an amendment to a previous filing, primarily to disclose the acquisition of Quture, Inc. The core event is a share exchange transaction completed on August 9, 2011, where Techs Loanstar acquired all outstanding capital stock of Quture in exchange for approximately 1.938 billion shares of Techs Loanstar's common stock. This transaction resulted in Quture shareholders owning about 85% of the combined entity. The company's business plan has been adopted from Quture, which focuses on developing standards for measuring clinical performance and outcomes in healthcare. Following the acquisition, the company's board of directors and officers were reconstituted. The company's authorized shares were significantly increased to accommodate the share exchange. The filing also provides extensive detail on Quture's business, including its products (QualOptima and QSurg), target markets, competitive landscape, and the regulatory environment in healthcare. Investors should note the significant ownership concentration post-transaction and the numerous risk factors associated with a startup in this highly regulated and competitive industry.
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.
Byrn, Inc. 8-K Report, Material Agreement (Aug 12, 2011)
Techs Loanstar, Inc. (now effectively operating as Quture, Inc. post-transaction) has filed an 8-K report detailing a significant change in its business operations and control. On August 9, 2011, the company consummated a "tax-free exchange" agreement with Quture, Inc., a Nevada corporation specializing in healthcare knowledge solutions and performance measurement tools. Through this exchange, Techs Loanstar acquired all outstanding capital stock of Quture, making Quture its wholly-owned subsidiary and adopting Quture's business plan. This transaction resulted in a substantial shift in ownership, with Quture shareholders acquiring approximately 85% of Techs Loanstar's common stock. The company's authorized capital stock was also significantly increased to accommodate the share issuance. Furthermore, the report details a change in control and a reconstitution of the board of directors and officers, with G. Landon Feazell appointed as CEO and Director, and Geoffrey L. Feazell as Treasurer and Secretary, bringing their expertise from Quture. The company will be filing audited and pro forma financial statements in an amendment to this report.
Byrn, Inc. Annual Report, Year Ended Apr 30, 2011
Techs Loanstar, Inc. (BRRN) filed its 10-K for the fiscal year ended April 30, 2011, revealing a company in a precarious financial position with significant operational and financial risks. The company has effectively ceased its original loan management services business and pivoted to a social network and advertising revenue-sharing model inherited from ZenZuu USA, Inc. (ZZUSA) through a share exchange transaction. Financially, Techs Loanstar reported no revenue for the fiscal year ended April 30, 2011, and substantial operating expenses leading to a net loss of $830,361. The company possesses very limited cash reserves ($408) and explicitly states that its current funds are insufficient to meet operational needs for the next twelve months, heavily relying on future equity or debt financing. The auditor's report raises substantial doubt about the company's ability to continue as an ongoing concern. The business model is highly dependent on the success of ZenZuu, Inc.'s (ZZI) online social network and its ability to re-establish marketing efforts and attract members and advertisers. Significant risks include intense competition, potential government regulation, dependence on third-party technology, and the need for substantial additional capital, with no guarantee of its availability.
Byrn, Inc. Annual Report (Amendment), Year Ended Apr 30, 2010
Techs Loanstar, Inc. (now operating under ZenZuu USA, Inc. after a share exchange transaction) is a development-stage company in the online social network and advertising industry. The company's primary asset is an exclusive 10-year license to use ZenZuu, Inc.'s social network database and advertising revenue-share model in the United States. This model aims to generate revenue through local and national advertising, with a significant portion of net advertising revenue intended to be distributed to active network members. The company has a very limited operating history and generated no revenue in the fiscal year ended April 30, 2010. It incurred a net loss of $1,397,739 for the fiscal year ended April 30, 2010, primarily due to operating expenses, professional fees, and an impairment charge of $808,333 on its license asset. Management has expressed substantial doubt about the company's ability to continue as an ongoing concern, citing insufficient cash on hand and the critical need for additional financing through equity or debt offerings. Key risks for investors include the company's dependence on ZenZuu, Inc.'s success, the highly competitive nature of the social networking and advertising markets, the need for substantial additional funding, and the potential for significant dilution due to the issuance of additional securities. The company has no employees other than its officers and directors, and its current cash reserves are not adequate to meet its operating needs for the next twelve months.
Byrn, Inc. 8-K Report, Material Agreement (Jul 29, 2011)
Techs Loanstar, Inc. (BRRN) has filed an 8-K report announcing a significant strategic move: the company has entered into a securities exchange agreement to acquire all outstanding capital stock of Quture, Inc. This acquisition will be executed through an exchange of Techs Loanstar's common stock, with Quture's shareholders receiving 85% of Techs Loanstar's issued and outstanding common stock post-exchange. The transaction is subject to several conditions precedent, including the completion of due diligence, audited financial statements for Quture, and finalization of schedules and exhibits. This indicates a material shift in the company's structure and potential business focus, pending the successful closing of the deal. Investors should monitor the satisfaction of these conditions as they will determine the finalization of this acquisition.
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.
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).
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.
Byrn, Inc. Annual Report (Amendment), Year Ended Apr 30, 2010
This 10-K/A filing for Techs Loanstar, Inc. (now operating as Techs Loanstar, Inc. after a share exchange with ZenZuu USA, Inc.) for the fiscal year ended April 30, 2010, reveals a company in its development stage with no significant operations or revenue. The company has undergone a change of control via a share exchange transaction, adopting the business plan of ZenZuu USA, Inc., which focuses on an online social network and advertising revenue-sharing model. The business is heavily reliant on a license agreement with ZenZuu, Inc. (ZZI) for the U.S. market, which itself has experienced suspended operations. Financially, Techs Loanstar, Inc. reported zero revenue for the fiscal year ended April 30, 2010, and a net loss of $1,397,739. The company has minimal cash reserves and faces substantial liquidity challenges, explicitly stating that it may need to cease operations if additional financing is not secured. The filing also highlights significant risks, including a limited operating history, dependence on ZZI's success, potential lack of market acceptance for its business model, and considerable competition in the online social network and advertising space. The company's future is highly speculative and contingent on its ability to raise capital and successfully implement its business strategy.
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.