Bioregenx, Inc 10-Q, filed Nov 22, 2021

About this 10-Q

Bioregenx, Inc. (BRGX)

10-Q 2021-11-22 For: 2021-09-30

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Added on April 06, 2026

(State or Other Jurisdiction

(I.R.S. Employer

of Incorporation or Organization)

Identification No.)

Bioregenx, Inc filed this 10-Q on November 22, 2021, covering the quarter ended September 30, 2021.

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5051 Peachtree Corners Circle, #200, Peachtree Corners, GA	30092
(Address of principal executive offices)		(Zip Code)

Large accelerated filer □		Accelerated filer		□
	Non-accelerated filer □		Smaller Reporting Company		X
(Do not check if a smaller reporting company) Emerging growth company □

PART I	Financial Information	3

ITEM 1.	Financial Statements	3
	Condensed Balance Sheets	3
	Unaudited Interim Condensed Statements of Operations	4
	Unaudited Interim Condensed Statement of Stockholder’s Deficit	5
	Unaudited Interim Condensed Statements of Cash Flows	6
	Notes to the Unaudited Condensed Interim Financial Statements	7


ITEM 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	14

ITEM 3.	Quantitative and Qualitative Disclosures About Market Risk	18

ITEM 4T.	Controls and Procedures	18

PART II	Other Information	21

ITEM 1.	Legal Proceedings	21

ITEM 1A.	Risk Factors	21

ITEM 2.	Unregistered Sales of Equity Securities and Use of Proceeds	21

ITEM 3	Defaults Upon Senior Securities	21

ITEM 4	Submission of Matters to a Vote of Security Holders	21

ITEM 5	Other Information	21

ITEM 6	Exhibits	22

	SIGNATURES	23

FINDIT, INC. BALANCE SHEETS

	September 30, 2021		December 31, 2020
ASSETS	(Unaudited)		(Audited)
Current Assets:
Cash	$	94,725	$	93,875
Accounts Receivable		3,700		971
Total Current Assets		98,425		94,846

Non-Current Assets:
Domain Name & Website, net of amortization of $55,848 and $51,399, respectively		43,404		47,854
Investment in Chill N Out Chryotherapy – related party		700,000		225,000
Total Other Assets		743,404		272,854
Total Assets	$	841,829	$	367,700

LIABILITIES & STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts Payable and Accrued Expenses	$	19,431	$	33,061
Current Portion Long-Term Debt		1,076		1,489
Deferred Revenue		8,500		7,000
Total Current Liabilities		29,007		41,550

Long-Term Debt		198,924		148,511

Total Liabilities		227,931		190,061

Stockholders' Equity:
Preferred Stock, Series A, $0.001 par value, 50,000,000 shares authorized, 5,000,000 shares issued and outstanding		5,000		5,000
Preferred Stock, Series B, $0.001 par value, 5,000,000 shares authorized, 4,900,000 shares issued and outstanding		4,900		4,900
Common Stock, $0.001 par value, 500,000,000 shares authorized, 269,745,006 issued and outstanding		269,745		269,745
Additional Paid in Capital		2,436,513		2,436,513
Accumulated Deficit		(2,102,260)		(2,538,519)
Total Stockholders' Equity		613,898		177,639
Total Liabilities and Stockholders' Equity	$	841,829	$	367,700
The accompanying notes are an integral part of these unaudited financial statements.

(Mark one)

x	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934



o	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

FINDIT, INC. STATEMENTS OF OPERATIONS (Unaudited)
	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Revenues:
Findit Services	$	37,619	$	103,822	$	185,597	$	278,847
Sales of Essential Oils		-		3,417		1,137		4,027
Total Revenues		37,619		107,239		186,734		282,874

Cost of Goods Sold:
Purchases of Materials & Supplies		-		853		554		1,242
Freight & Shipping		-		565		-		965
Total Cost of Goods Sold		-		1,418		554		2,207

Gross Margin		37,619		105,821		186,180		280,667

Operating Expenses:
Advertising, Marketing & Press Release Expenses		1,501		209,007		5,884		259,353
Amortization Expense		1,483		1,483		4,449		4,449
Consulting Services		-		3,000		6,350		9,000
Content Writing		8,100		19,658		40,300		68,159
General and Administrative Expense		16,507		28,491		72,654		64,561
Professional Fees		6,336		17,726		45,651		24,584
Programming Fees		29,600		12,710		79,470		47,901
Web Design and Hosting Expense		10,548		13,606		38,408		47,971
Total Operating Expenses		74,075		305,681		293,166		525,978

Loss from Operations		(36,456)		(199,860)		(106,986)		(245,311)

Other Income:
Other income		4,522		-		68,245		-
Total Other Income		4,522		-		68,245		-

Loss Before Provision for Income Tax		(31,934)		(199,860)		(38,741)		(245,311)
Provision for Income Tax		-		-		-		-
Net Loss		(31,934)		(199,860)		(38,741)		(245,311)

Other Comprehensive Income (Loss)
Unrealized (loss) gain on available-for-sale securities		(1,300,000)		-		475,000		-
Total Comprehensive Income (Loss)	$	(1,331,934)	$	(199,860)	$	436,259	$	(245,311)

Income (Loss) Per Share, Basic and Diluted	$	(0.00)	$	(0.00)	$	0.00	$	(0.00)
Weighted Average Shares Outstanding, Basic and Diluted	269,745,006		265,745,006		269,745,006		265,745,006
The accompanying notes are an integral part of these unaudited financial statements.

FINDIT, INC. STATEMENTS OF STOCKHOLDERS’ DEFICIT For the Three and Nine Months Ended September 30, 2020 and 2021 (Unaudited)
	Common Stock			Preferred Stock, Series A			Preferred Stock, Series B			Additional Paid		Accumulated
	Shares	Amount		Shares	Amount		Shares	Amount		in Capital		Deficit		Total
Balance, December 31, 2019	265,745,006	$	265,745	5,000,000	$	5,000	4,9000,000	$	4,900	$	2,192,513	$	(2,453,915)	$	14,243
Net Loss	-		-	-		-	-		-		-		(16,058)		(16,058)
Balance, March 31, 2020	265,745,006		265,745	5,000,000		5,000	4,9000,000		4,900		2,192,513		(2,469,973)		(1,815)
Net Loss	-		-	-		-	-		-		-		(31,393)		(31,393)
Balance, June 30, 2020	265,745,006		265,745	5,000,000		5,000	4,9000,000		4,900		2,192,513		(2,501,366)		(33,208)
Shares issued for services	4,000,000		4,000	-		-	-		-		244,000		-		248,000
Net Loss	-		-	-		-	-		-		-		(199,860)		(199,860)
Balance, September 30, 2020	269,745,006	$	269,745	5,000,000	$	5,000	4,9000,000	$	4,900	$	2,436,513	$	(2,701,226)	$	14,932

FINDIT, INC. STATEMENTS OF CASHFLOWS (Unaudited)
	For the Nine Months Ended September 30,
Cash Flow from Operating Activities:	2021		2020
Net Income (Loss)	$	436,259	$	(245,311)
Adjustments to Reconcile Net Income (Loss) to Net Cash Used by Operating Activities:
Amortization Expense		4,450		4,449
Common stock issued for services		-		248,000
Investment in Chill N Out Cryotherapy – related party		(475,000)		-
Changes in Operating Assets and Liabilities:
Accounts Receivable		(2,729)		(15,000)
Accounts Payable		(13,630)		(36,446)
Deferred Revenue		1,500		14,000
Net Cash Used by Operating Activities		(49,150)		(30,308)

Cash Flows from Investing Activities
Investment in Virtual Class Services		-		(58,088)
Net Cash Used by Investing Activities		-		(58,088)

Cash Flows from Financing Activities
Proceeds from long term debt		50,000		150,000
Net Cash Provided by Operating Financing		50,000		150,000

Net Increase in Cash		850		61,604

Cash at Beginning of Period		93,875		37,975

Cash at End of Period	$	94,725	$	99,579

Cash Paid During the Period for:
Interest	$	-	$	-
Income Taxes	$	-	$	-

Supplemental non-cash disclosure:
Unrealized gain on available-for-sale securities	$	475,000	$	-
The accompanying notes are an integral part of these unaudited financial statements.

	September 30, 2021		December 31, 2020
SBA Loan – July 20,2020	$	150,000	$	150,000
SBA Loan – July 17,2021		50,000		-
Total	$	200,000	$	150,000
Less: current portion		(1,076)		-
Long term portion	$	198,924	$	150,000

			Incorporated by reference
Exhibit	Exhibit Description	Filed herewith	Form	Period Ending	Exhibit	Filing Date
3.1	Articles of Incorporation, as currently in effect		S-1		3.1	09/02/2021
3.2	Bylaws, as currently in effect		S-1		3.2	09/02/2021
31.1	Certification of Principal Executive Officer and Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.	X
31.2	Certification of Principal Executive Officer and Principal Financial Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002.	X

	Findit, Inc. Registrant


Date: November 18, 2021	/s/ Raymond Firth
	Name: Raymond Firth
		Title: Chief Executive Officer Principal Executive Officer

Date: November 18, 2021	/s/ Raymond Firth
	Name: Raymond Firth
		Title: Chief Accounting Officer Principal Accounting Officer

Signature	Title	Date

/s/ Raymond Firth (Raymond Firth)	Chief Executive Officer Principal Executive Officer	November 18, 2021

/s/ Raymond Firth (Raymond Firth)	Corporate Secretary and Chief Accounting Officer	November 18, 2021

(1)		I have reviewed this quarterly report on Form 10-Q of FindIt, Inc.;

(2)		Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

(3)		Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

(4)		The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)				Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)				Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)				Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;

d)				Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

(5)			The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)				All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)				Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

/s/ Raymond Firth
Raymond Firth
	Principal Executive Officer Principal Financial Officer

Date: November 18, 2021


Commission File Number: 333-254128


(1)	The Quarterly Report on Form 10-Q of the Company for the quarterly period ended September 30, 2021 fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)	The information contained in that Form 10-Q fairly presents, in all material respects, the financial conditions and results of operations of the Company.