GAMG 10-Q
Global Asset Management Group, Inc. (GAMG)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
(Mark One)
Quarterly report pursuant to Section 13 OR 15(D) of the Securities Exchange Act of 1934 |
For the quarterly period ended
OR
Transition report pursuant to Section 13 or 15(D) of the Securities Exchange Act of 1934 |
For the transition period from to
Commission File Number:
(Exact name of registrant as specified in its charter) |
| ||
(State of incorporation) |
| (I.R.S. employer identification no.) |
|
|
|
| ||
(Address of principal executive offices) |
| (Zip Code) |
(
(Registrant’s telephone number, including area code)
Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes☒
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer | ☐ | Accelerated filer | ☐ |
☐ | Smaller reporting company | ||
|
| Emerging growth company |
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
As of August 13, 2024, there were
KENILWORTH SYSTEMS CORPORATION
QUARTERLY REPORT ON FORM 10-Q
FOR THE PERIOD ENDED JUNE 30, 2024
INDEX
| Index |
|
| Page |
|
|
|
|
|
|
Part I. Financial Information |
|
|
| |
|
|
|
|
|
Item 1. | Consolidated Financial Statements |
|
|
|
|
|
|
|
|
| Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023. (unaudited) |
| 4 |
|
|
|
|
|
|
|
| 5 |
| |
|
|
|
|
|
|
| 6 |
| |
|
|
|
|
|
|
| 7 |
| |
|
|
|
|
|
| Notes to the Condensed Consolidated Financial Statements. (unaudited) |
| 8 |
|
|
|
|
|
|
Management’s Discussion and Analysis of Financial Condition and Results of Operations. |
| 11 |
| |
|
|
|
|
|
Item 3. | Quantitative and Qualitative Disclosures About Market Risk. |
|
|
|
|
|
|
|
|
Item 4. | Controls and Procedures. |
|
|
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
| 12 |
| ||
|
|
|
|
|
| 12 |
| ||
|
|
|
|
|
Unregistered Sales of Equity Securities and Use of Proceeds. |
| 12 |
| |
|
|
|
|
|
| 12 |
| ||
|
|
|
|
|
| 12 |
| ||
|
|
|
|
|
| 12 |
| ||
|
|
|
|
|
| 13 |
| ||
|
|
|
|
|
| 14 | |||
| 2 |
| Table of Contents |
ITEM 1. FINANCIAL STATEMENTS
INDEX TO AUDITED FINANCIAL STATEMENTS
KENILWORTH SYSTEMS CORPORATION
TABLE OF CONTENTS
| 3 |
| Table of Contents |
KENILWORTH SYSTEMS CORPORATION
CONSOLIDATED BALANCE SHEETS
ASSETS Current Assets |
| JUNE 30, 2024 |
|
| DECEMBER 31, 2023 |
| ||
|
|
|
|
|
|
| ||
ASSETS |
|
|
|
|
|
| ||
Current Assets |
|
|
|
|
|
| ||
Cash |
| $ |
|
| $ |
| ||
Due from Related Party |
| $ |
|
| $ |
| ||
Subscription Receivables |
| $ |
|
| $ |
| ||
Prepaid expense |
| $ |
|
| $ |
| ||
Total current assets |
| $ |
|
| $ |
| ||
|
|
|
|
|
|
|
|
|
License agreements |
|
|
|
|
|
|
|
|
Security deposits |
|
|
|
|
|
|
|
|
Intellectual Property – Proprietary Databases and Technology |
| $ |
|
| $ |
| ||
Trademarks and Tradenames |
| $ |
|
| $ |
| ||
|
|
|
|
|
|
|
|
|
TOTAL ASSETS |
| $ |
|
| $ |
| ||
|
|
|
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS' DEFICIENCY |
|
|
|
|
|
|
|
|
Current Liabilities |
|
|
|
|
|
|
|
|
Accounts payable and accrued expenses |
|
|
|
| $ |
| ||
Due to related parties |
| $ |
|
| $ |
| ||
Note Payable |
| $ |
|
| $ |
| ||
Deferred Income |
| $ |
|
|
|
|
| |
Total current liabilities |
| $ |
|
| $ |
| ||
|
|
|
|
|
|
|
|
|
Total other liabilities |
| $ |
|
| $ |
| ||
TOTAL LIABILITIES |
| $ |
|
| $ |
| ||
|
|
|
|
|
|
|
|
|
Stockholders' Equity |
|
|
|
|
|
|
|
|
Series A convertible preferred stock, par value $.01 – authorized |
| $ |
|
| $ |
| ||
Series B convertible preferred stock, par value $.01 - authorized |
| $ |
|
| $ |
| ||
Series C convertible preferred stock, par value $.01 - authorized |
| $ |
|
| $ |
| ||
Common stock, par value $.01 - authorized |
| $ |
|
| $ |
| ||
Additional paid-in-capital |
| $ |
|
| $ |
| ||
|
|
|
|
|
|
|
|
|
Accumulated deficit |
| $ | ( | ) |
| $ | ( | ) |
Non-Controlling Interest |
| $ |
|
| $ |
| ||
TOTAL STOCKHOLDERS' EQUITY |
| $ | ( | ) |
| $ | ( | ) |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY |
| $ |
|
| $ |
| ||
The accompanying notes are an integral part of these financial statements.
| 4 |
| Table of Contents |
KENILWORTH SYSTEMS CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
|
| JUNE 30, |
|
| JUNE 30, |
| ||
|
| 2024 (Unaudited) |
|
| 2023 |
| ||
Operating revenue: |
|
|
|
|
|
| ||
Revenue |
| $ |
|
| $ |
| ||
Cost of sales |
| $ |
|
| $ |
| ||
Gross Profit |
|
|
|
|
|
| ||
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank Charges & Fees |
| $ |
|
| $ |
| ||
Legal & Professional Services |
| $ |
|
| $ |
| ||
General and Administrative Expense |
|
|
|
| $ |
| ||
Total operating expenses |
| $ |
|
| $ |
| ||
|
|
|
|
|
|
|
|
|
Loss from operations |
| $ | ( | ) |
| $ | ( | ) |
|
|
|
|
|
|
|
|
|
Other Income (expenses) |
|
| ( | ) |
|
|
|
|
Total other income/(expense) |
| $ |
|
| $ |
| ||
|
|
|
|
|
|
|
|
|
Net Income/ loss |
| $ | ( | ) |
| $ | ( | ) |
|
|
|
|
|
|
|
|
|
Earnings per share |
|
|
|
|
|
|
|
|
Basic |
| $ | ( | ) |
| $ | ( | ) |
The accompanying notes are an integral part of these financial statements.
| 5 |
| Table of Contents |
KENILWORTH SYSTEMS CORPORATION AND
CONSOLIDATED CHANGES IN STOCKHOLDERS’ EQUITY
FOR THE PERIOD ENDED JUNE 30, 2024.
|
|
|
|
| Preferred Stock A |
|
| Common |
|
| Additional Paid-in |
|
|
|
| Accumulated |
|
|
| |||||||||
Description |
| Shares |
|
| Amount |
|
| Stock |
|
| Capital |
|
| NCI |
|
| Deficit |
|
| Total |
| |||||||
|
|
|
|
| $ |
|
| $ |
|
| $ |
|
| $ |
|
| $ |
|
| $ |
| |||||||
Balance – Balance Jan 1, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| - |
|
|
| ( | ) |
|
|
| |||||
Common stock issued |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| - |
|
|
| - |
|
|
|
| ||||
Preferred Stock A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Preferred Stock B |
|
| - |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
Preferred Stock C |
|
| - |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
Additional paid in capital |
|
| - |
|
|
|
|
|
|
|
|
|
|
| ( | ) |
|
|
|
|
|
|
|
| ( | ) | ||
Net (loss) |
|
| - |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ( | ) |
|
| ( | ) | |||
NCI |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
Balance – December 31, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ( | ) |
|
| ( | ) | |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance – Balance Jan 1, 2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ( | ) |
|
| ( | ) | |||||
Common stock issued |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Additional paid in capital |
|
| - |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Net (loss) |
|
| - |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ( | ) |
|
| ( | ) | |||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| - |
|
|
|
|
|
|
|
|
|
Balance – June 30, 2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ( | ) |
|
| ( | ) | |||||
The accompanying notes are an integral part of these consolidated financial statements.
| 6 |
| Table of Contents |
KENILWORTH SYSTEMS CORPORATION
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED JUNE 30, 2024, AND 2023
|
| Period Ended June 30, 2024 (Unaudited) |
|
| Period Ended June 30, 2023 |
| ||
Cash flows from operating activities: |
|
|
|
|
|
| ||
Net loss from continuing operations attributable to |
|
| ( | ) |
| $ | ( | ) |
common stockholders |
|
|
|
|
|
|
|
|
Adjustments to reconcile net loss to net |
|
|
|
|
|
|
|
|
cash used in operating activities: |
|
|
|
|
|
|
|
|
Preferred stock issued for services |
|
|
|
| $ |
| ||
Changes in: |
|
|
|
|
|
|
|
|
Prepaid expenses and receivables |
|
|
|
| $ | ( | ) | |
Due to related party |
|
|
|
| $ |
| ||
Payroll tax liabilities |
|
|
|
| $ |
| ||
Net cash used in operating activities |
|
| ( | ) |
| $ |
| |
|
|
|
|
|
|
|
|
|
Cash flows from investing activities |
|
|
|
|
|
|
|
|
License agreements |
|
|
|
| $ |
| ||
Intangible Assets |
|
|
|
| $ |
| ||
Intellectual Property – Proprietary Databases and Technology |
|
|
|
|
|
|
| |
Trademarks and Tradenames |
|
|
|
|
|
|
| |
Net cash used in investing activities |
|
|
|
| $ |
| ||
|
|
|
|
|
|
|
|
|
Cash flows from financing activities |
|
|
|
|
|
|
|
|
Common Stock |
|
|
|
| $ | ( | ) | |
Additional Paid-In-Capital |
|
|
|
| $ | ( | ) | |
Note Payables |
|
|
|
|
|
|
|
|
Net cash provided by financing activities |
|
|
|
| $ | ( | ) | |
|
|
|
|
|
|
|
|
|
Net increase in cash |
|
|
|
| $ |
| ||
|
|
|
|
|
|
|
|
|
Cash, beginning of period |
|
|
|
| $ |
| ||
Cash, end of period |
|
|
|
| $ |
| ||
The accompanying notes are an integral part of these financial statements.
| 7 |
| Table of Contents |
KENILWORTH SYSTEMS CORPORATION
NOTE TO THE CONSOLIDATED FINANCIAL STATEMENT
JUNE 30, 2024, AND 2023
Note 1 – THE COMPANY AND NATURE OF BUSINESS
Kenilworth Systems Corporation hereinafter referred to as “Kenilworth”, the “Company” or “we”, was incorporated on April 25, 1968, under the laws of the State of New York. Kenilworth has been a publicly traded Company since August 1968 formerly on the National NASDAQ Market, presently on the OTC Pink Sheet Market since emerging from Bankruptcy Proceedings in September 1998. Kenilworth has since been presented as a Development Stage Company, a designation we still ardently object to.
Note 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation
The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America. The Company’s Period-end ends June 30.
Principle of consolidation
The consolidated financial statements include the accounts of Kenilworth Systems Corporation and its wholly owned subsidiaries: Regenecel Inc.
Use of Estimates
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents
The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. The Company had $
| 8 |
| Table of Contents |
KENILWORTH SYSTEMS CORPORATION
NOTE TO THE CONSOLIDATED FINANCIAL STATEMENT
JUNE 30, 2024, AND 2023
Fair Value of Financial Instruments
AS topic 820 "Fair Value Measurements and Disclosures" establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market.
These tiers include:
Level 1: | defined as observable inputs such as quoted prices in active markets; |
Level 2: | defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and |
Level 3: | defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. |
The carrying value of cash and the Company’s loan from shareholders approximates its fair value due to their short-term maturity.
Income Taxes
Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.
Revenue Recognition
The Company recognizes revenue in accordance with Accounting Standards Codification No. 605, “Revenue Recognition” ("ASC-605"), ASC-605 requires that four basic criteria must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed and determinable; and (4) collectability is reasonably assured. Determination of criteria (3) and (4) are based on management's judgments regarding the fixed nature of the selling prices of the products delivered and the collectability of those amounts. Provisions for discounts and rebates to customers, estimated returns and allowances, and other adjustments are provided for in the same period the related sales are recorded. The Company will defer any revenue for which the product has not been delivered or services not provided or is subject to refund until such time that the Company and the customer jointly determine that the product has been delivered or no refund will be required. As of June 30, 2024, the Company has generated revenue of $
Basic Income (Loss) Per Share
The Company computes income (loss) per share in accordance with FASB ASC 260 “Earnings per Share”. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all diluted potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. As of June 30, 2024, there were no potentially dilutive debt or equity instruments issued or outstanding.
| 9 |
| Table of Contents |
KENILWORTH SYSTEMS CORPORATION
NOTE TO THE CONSOLIDATED FINANCIAL STATEMENT
JUNE 30, 2024, AND 2023
Stock-Based Compensation
Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options.
Recent Accounting Pronouncements
We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company.
Patent Trademarks and Intellectual Property
On June 10, 2003, the U.S. Patent for the various aspects of wagering on live in-progress casino table games was granted by the U.S. Patent Office to Herbert Lindo, the Inventor and which Patent was assigned by Herbert Lindo to the Company in August 2000. We filed the Patent for approval in fifty-one (51) countries in the industrialized world including Russia and China. There can be no assurances that foreign patents will be issued, and the challenges will not be instituted against the validity or enforceability of our patent”.
Government Regulations
Kenilworth has no licenses from any casino regulating authorities and may not require any casino licenses at the present time and may never become able to obtain any licenses that may be required in the future. Each state has its own regulations, and in states where Kenilworth does business, Kenilworth will have to comply with these regulations and there can be no assurances that it will be able to do so or obtain the necessary license in an applicable jurisdiction. This discussion is not necessarily complete or current, regarding laws and regulations that may be applicable to us. Any present laws are also subject to future change, amendment or cancellation and there is no assurance that Kenilworth will be able to meet those requirements.
Note 3 – GOING CONCERN UNCERTAINTY
For the Periods ended June 30, 2024, and June 30, 2023, the Company incurred net losses of approximately $
These factors create substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustment that might be necessary if the Company is unable to continue as a going concern.
The ability of the Company to continue as a going concern is dependent on the Company generating cash from the sale of its common stock and/or obtaining debt financing and attaining future profitable operations. Management’s plans include selling its equity securities and obtaining debt financing to fund its capital requirement and ongoing operations; however, there can be no assurance the Company will be successful in these efforts.
Note 4 – PAYROLL TAXES PAYABLE
The Company has not had payroll and no payroll taxes due as since 2012. These balances were assigned to personally to President Dan Snyder by the IRS as stated in the prior reported June 30, 2024, Form 10-Q.
Note 5 – SUBSEQUENT EVENTS
In accordance with ASC Topic 855, “Subsequent Events”, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before consolidated financial statements are issued, the Company has evaluated all events or transactions that occurred after June 30, 2024, up through the date the Company issued the audited consolidated financial statements and determined that there are no events to disclose.
| 10 |
| Table of Contents |
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
This Management’s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”) and other parts of this report include “forward- looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements other than historical facts and often address future events or our future performance. Words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “may,” “will,” “might,” “plan,” “predict,” “believe,” “should,” “could” and similar words or expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.
Forward-looking statements contained in this MD&A include statements about, among other things:
· | our beliefs regarding the market and demand for our products or the component products we resell; |
· | our ability to develop and launch new products that are attractive to the market and stimulate customer demand for these products; |
· | our plans relating to our intellectual property, including our goals of monetizing, licensing, expanding and defending our patent portfolio; |
· | our expectations and strategies regarding outstanding legal proceedings and patent reexaminations relating to our intellectual property portfolio; |
· | our expectations with respect to any strategic partnerships or other similar relationships we may pursue; |
· | the competitive landscape of our industry; |
· | general market, economic and political conditions; |
· | our business strategies and objectives; |
· | our expectations regarding our future operations and financial position, including revenues, costs and prospects, and our liquidity and capital resources, including cash flows, sufficiency of cash resources, efforts to reduce expenses and the potential for future financings; |
· | our ability to remediate any material weakness and maintain effective internal control over financial reporting; and |
· | the impact of the above factors and other future events on the market price and the liquidity of our Common Stock. |
RESULTS OF OPERATIONS
On September 30, 2023, the Company completed a Share Exchange in which it acquired a 60% controlling equity interest in Regenecell, Inc., a Florida corporation which has been newly-formed and is engaged in the business of medical travel consulting and referral services. The Founder and President of Regenecell, Steven Swank, exchanged 600,000 of his Shares of Common Stock of Regenecell, Inc. for 2,000,000 Shares of Common Stock of the Company in a tax-free exchange. As a result of this transaction, of the total 1,000,000 Shares of Common Stock of Regenecell, Inc. authorized, issued, and outstanding, the Company owns 600,000 Shares representing 60%, and Mr. Swank owns the remaining 400,000 Shares, representing a 40% minority interest. Regenecell is the operating subsidiary of the Company, and the Company is preparing a marketing program to expand the business operations of Regenecell.
LIQUIDITY AND CAPITAL RESOURCES
Current management, under the guidance of Dan Snyder, has several plans it hopes to put in place. Our intentions are to protect the shareholders and Directors and bring the Company into a well- run 21st century cutting edge company through the following steps:
| a.) | Review the books and records of the Company for the previous Nine (9) years, have all necessary filings updated and/or restated as needed, reach agreements with all authorities and present audited financials. |
|
|
|
| b.) | The Company’s management team is presently reviewing acquisition opportunities in both the emerging medical technologies field as well as in emerging energy technologies. As of the date of this filing, the Company has not entered into any definitive agreements with respect to any acquisition opportunities. In addition, the Company is preparing a Marketing Plan to expand the business operations of it’s Regenecell, Inc. subsidiary. |
Of course, there are no assurances that we can obtain the financing or achieve these goals.
Kenilworth has begun a major corporate restructuring designed to focus the Company’s efforts on its core business and maximize shareholder value.
| 11 |
| Table of Contents |
PART II- OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS.
The Company is not currently subject to any legal proceedings. From time to time, the Company may become subject to litigation or proceedings in connection with its business, as either a plaintiff or defendant. There are no such pending legal proceedings to which the Company is a party that, in the opinion of management, is likely to have a material adverse effect on the Company’s business, financial condition or results of operations.
ITEM 1A. RISK FACTORS
As a smaller reporting company (as defined in Rule 12b-2 of the Exchange Act), we are not required to provide the information called for by this Item 1A.
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.
During the Quarter ended June 30, 2024, the Company sold 4,55,000 Shares of Common Stock to eight investors, including existing Shareholders in private sales, for aggregate cash consideration of $152,000. The proceeds of these sales were used to finance ongoing corporate expenses including business expansion costs. These restricted Shares were issued in accordance with the exemption from registration afforded by Regulation D and Rule 4(a) promulgated under the Securities Act of 1933, as amended.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES.
None.
ITEM 4. MINE SAFETY DISCLOSURES.
None.
ITEM 5. OTHER INFORMATION.
The Company plans to hold its next Annual Meeting of Shareholders as soon as practicable with proxy materials mailed to shareholders of record at least twenty (20) days prior to the proposed meeting date. Our new management team, auditors and counsel are anticipating a number of issues to be voted on at that time.
| 12 |
| Table of Contents |
ITEM 6. EXHIBITS.
(a) Exhibits required by Item 601 of Regulation SK.
Number |
| Description |
|
|
|
| ||
|
|
|
| ||
|
|
|
| ||
|
|
|
101.INS * |
| Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document) |
|
|
|
101.SCH * |
| Inline XBRL Taxonomy Extension Schema Document |
|
|
|
101.CAL * |
| Inline XBRL Taxonomy Extension Calculation Linkbase Document |
|
|
|
101.DEF * |
| Inline XBRL Taxonomy Extension Definition Linkbase Document |
|
|
|
101.LAB * |
| Inline XBRL Taxonomy Extension Label Linkbase Document |
|
|
|
101.PRE * |
| Inline XBRL Taxonomy Extension Presentation Linkbase Document |
|
|
|
104 |
| Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) |
* XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.
| 13 |
| Table of Contents |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed in its behalf by the undersigned thereunto duly authorized.
| KENILWORTH SYSTEMS CORPORATION | |||
| August 14, 2024 | By: | /s/ Daniel Snyder | |
|
| Chief Executive Officer, President and Director | |
| 14 |