Born, Inc. 2023 10-K Review: A Dormant Shell with Limited Prospects

Introduction

Born, Inc., formerly known as Quture International, Inc., is a Nevada-based corporation that has undergone several transformations since its inception in 2011. Initially established as a healthcare knowledge solution company, Born, Inc. aimed to revolutionize healthcare by developing standards for measuring clinical performance and outcomes. However, the company has faced numerous challenges, leading to its current status as a dormant shell company. This blog post delves into the company's 2023 10-K filing, examining its business operations, financial performance, and potential investment risks.

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Business Overview

Corporate History

Born, Inc. was formed in April 2011 with the vision of transforming healthcare through innovative software solutions. The company developed medical software tools and analytics designed to reduce costs while enhancing clinical performance and outcomes. However, from March 2013 to December 2019, the company remained dormant, indicating a lack of active business operations.

In December 2019, Custodian Ventures, LLC, led by David Lazar, was appointed as the custodian of Born, Inc. This marked a significant shift in the company's management and direction. Despite attempts to revitalize the company, including a share exchange agreement with Alkeon Creators, Inc. in 2021, Born, Inc. has struggled to establish a sustainable business model.

Current Status

As of 2023, Born, Inc. is a dormant shell company with no active operations or revenue streams. The company is exploring potential business opportunities, including reverse mergers or acquisitions, to regain operational status. However, the lack of a clear business plan and ongoing financial challenges pose significant hurdles.

Financial Performance

Balance Sheet Analysis

Born, Inc.'s balance sheet as of December 31, 2023, reveals a total asset value of $0, highlighting the company's lack of tangible assets or operational infrastructure. The company's liabilities, primarily accounts payable and related party payables, amount to $30,117, resulting in a stockholders' deficit of the same amount.

Income Statement

The company's income statement for the year ended December 31, 2023, shows a net loss of $21,221, primarily due to administrative expenses. This loss further exacerbates the company's accumulated deficit, which stands at $117,477,124.

Cash Flow Statement

Born, Inc.'s cash flow statement indicates no cash flow from operating, investing, or financing activities, underscoring the company's dormant status. The company relies on interest-free demand loans from related parties to meet its minimal financial obligations.

Risk Factors

Legal and Financial Risks

Born, Inc. faces substantial legal and financial risks due to its dormant status and lack of revenue-generating activities. The company's financial statements raise substantial doubt about its ability to continue as a going concern, as highlighted by the independent auditor's report.

Market and Operational Risks

The company's lack of a clear business plan and operational strategy poses significant market and operational risks. Born, Inc. is exploring potential business combinations, but the success of such endeavors is uncertain, given the competitive landscape and economic conditions.

Conclusion

Born, Inc.'s 2023 10-K filing paints a bleak picture of a company struggling to find its footing in a challenging business environment. With no active operations, revenue streams, or clear business plan, the company faces significant hurdles in achieving financial stability and growth. Potential investors should exercise caution and consider the substantial risks associated with investing in a dormant shell company like Born, Inc.

While the company is exploring potential business opportunities, the lack of tangible assets, ongoing financial losses, and uncertain market conditions make it a high-risk investment. As such, Born, Inc. currently holds limited investment potential, with a score of 2.0 out of 10, indicating significant challenges ahead.