Born, Inc. 2022 10-K Report: A Comprehensive Review

Introduction

Born, Inc., formerly known as Quture International, Inc., is a Nevada-based corporation that has undergone significant changes over the years. Initially established as a healthcare knowledge solution company, Born, Inc. has transitioned into a dormant shell company with no current operations or revenue. This blog post will delve into the company's 2022 10-K report, examining its business overview, financial performance, risk factors, and future prospects.

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Business Overview

Born, Inc. was formed in April 2011 with the aim of transforming healthcare by developing standards for measuring clinical performance and outcomes. The company developed medical software tools and analytics to reduce costs and improve clinical performance. However, from March 2013 to December 2019, the company was dormant.

In December 2019, Custodian Ventures, LLC, controlled by David Lazar, was appointed as the custodian of Born, Inc. The company underwent several changes, including a name change from Quture International, Inc. to Born, Inc. in November 2020. Despite these changes, Born, Inc. remains a dormant shell company with no active business operations.

Financial Performance

Balance Sheet

As of December 31, 2022, Born, Inc. reported total assets of $0 and total liabilities of $8,896, resulting in a stockholders' deficit of $8,896. The company has no tangible assets or revenue-generating operations, which is a significant concern for potential investors.

Income Statement

For the year ended December 31, 2022, Born, Inc. reported a net loss of $4,752, compared to a net loss of $87,668,351 in 2021. The substantial loss in 2021 was primarily due to an impairment of goodwill amounting to $87,670,010. The company's lack of revenue and ongoing losses raise questions about its viability as a going concern.

Cash Flow Statement

Born, Inc. reported no cash flow from operating, investing, or financing activities for the year ended December 31, 2022. The company's cash position remains at $0, indicating a lack of liquidity and financial flexibility.

Risk Factors

Born, Inc. faces several risk factors that could impact its future prospects:

1. Dormant Status: The company is currently a dormant shell with no operations or revenue, making it highly speculative for investors.
2. Going Concern: The company's auditors have expressed substantial doubt about its ability to continue as a going concern due to recurring losses and a significant accumulated deficit.
3. Lack of Business Plan: Born, Inc. has no concrete business plan or strategy to generate revenue or achieve profitability.
4. Dependence on External Funding: The company relies on external funding, primarily from David Lazar, to meet its financial obligations. This dependence poses a risk if such funding becomes unavailable.

Future Prospects

Born, Inc. intends to explore and identify viable business opportunities within the U.S., including potential acquisitions through reverse mergers or asset purchases. However, the company's limited capital resources and lack of a clear business strategy make its future uncertain.

Conclusion

Born, Inc.'s 2022 10-K report paints a bleak picture of a company struggling to find its footing. With no operations, revenue, or clear business plan, the company remains a high-risk investment. Potential investors should exercise caution and consider the significant challenges Born, Inc. faces in achieving profitability and sustainability.

In summary, Born, Inc. is currently not an attractive investment opportunity due to its dormant status, financial instability, and lack of strategic direction. Investors should closely monitor any developments or changes in the company's business strategy before considering an investment.