Our intended business purpose is to seek the acquisition of, or merger with, an existing company. The acquisition of a business opportunity may be made by purchase, merger, exchange of stock, or otherwise, and may encompass assets or a business entity, such as a corporation, joint venture, or partnership. We have very limited capital, and it is unlikely that we will be able to take advantage of more than one such business opportunity. We intend to seek opportunities demonstrating the potential of long-term growth as opposed to short-term earnings. We will not restrict potential candidate target companies to any specific business, industry or geographical location and, thus, may acquire any type of business. As of the date hereof, we have made no efforts to identify a possible business combination including, but not limited to, not conducting negotiations or entering into a letter of intent with respect to any target business and we have not entered into a letter of intent or any definitive agreement with respect to any target business. If we are unable to locate a suitable entity with which to enter into a business combination, we may invest in passive investments as an alternative to acquiring a business. This may prove to be more suitable, as an alternative, because it will be a non-management control investment.
Company profile
Ticker
MSOF
Exchange
CEO
J. Bryant Kirkland
Employees
Incorporated
Location
Fiscal year end
Sector
Industry (SIC)
Former names
MULTI SOFT INC
SEC CIK
IRS number
222588030
MSOF stock data
Calendar
10 Jun 22
9 Aug 22
31 Jan 23
Financial summary
| Quarter (USD) | Apr 22 | Jan 22 | Oct 21 | Jul 21 | |
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| Annual (USD) | Jan 22 | Jan 21 | Jan 20 | Jan 19 | |
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| Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
|---|---|---|---|---|---|---|
| Cash on hand (at last report) | 9.52K | 9.52K | 9.52K | 9.52K | 9.52K | 9.52K |
| Cash burn (monthly) | (no burn) | (no burn) | 7.59K | 6.93K | 5.95K | 7.01K |
| Cash used (since last report) | n/a | n/a | 25.36K | 23.15K | 19.89K | 23.42K |
| Cash remaining | n/a | n/a | -15.84K | -13.64K | -10.37K | -13.9K |
| Runway (months of cash) | n/a | n/a | -2.1 | -2.0 | -1.7 | -2.0 |
Financial report summary
?Management Discussion
- ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
- Our principal business objective for the next 12 months and beyond will be to achieve long-term growth potential through a combination with a business, rather than immediate, short-term earnings. Our search for a business opportunity will not be limited to any particular geographical area or industry, including both domestic and international companies.
- We have negative working capital, negative shareholders' equity and have not earned any revenues from operations since 2005. However, we have issued an 11% revolving credit promissory note in favor of Vector Group Ltd. ("Vector") in the principal amount of up to $600,000, maturing in December 2023, as amended on September 10, 2021, which we believe provides us with access to sufficient capital for the next twelve months from the issuance date of this report. We are currently devoting our efforts to locating merger candidates. Our ability to continue as a going concern is dependent upon our ability to develop additional sources of capital, locate and complete a merger with another company, and ultimately, achieve profitable operations. Our historical operating results disclosed in this annual report on Form 10-K are not meaningful to our future results.
Content analysis
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New words:
arrangement, audited, inflation, recession
Financial reports
Current reports
Registration and prospectus
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