Hawkeye Systems Inc
For the period ended Mar 31, 2024. Filed Apr 29, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed Apr 29, 2024
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2023-12-31; filed 2024-02-08.
0001477932-24-000592
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2024-03-31; filed 2024-04-29.
0001477932-24-002373
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 38 previous paragraphs and 38 current paragraphs.
28 unchanged; 10 reworded; 0 added; 0 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Reworded paragraphs (10)
Previous wording
The following discussion relates to the historical operations and financial statements of Hawkeye Systems, Inc. for the three months ended December 31, 2023.
Current wording
The following discussion relates to the historical operations and financial statements of Hawkeye Systems, Inc. for the nine months and three months ended March 31, 2024.
Previous wording
The Company is currently looking for investment opportunities into target businesses in diversified industries, such as affordable housing development, and technology applications to mitigate the effects of climate change. While we search for such opportunities, we are currently providing management consulting and strategic growth services to CNTNR USA, Inc (“CNTNR”). Prior to the date of this quarterly report, we have also provided financing to CNTNR.
Current wording
The Company is currently looking for investment opportunities into target businesses in diversified industries, such as affordable housing development, and technology applications to mitigate the effects of climate change.
Previous wording
Three Months Ended**December 31, 2023 compared to three months ended December 31, 2022.
Current wording
Nine Months Ended March 31, 2024 compared to Nine months ended March 31, 2023.
Previous wording
We had no operating revenues, and cost of sales, for the three months ended December 31, 2023 and 2022, respectively.
Current wording
We had no operating revenues, and cost of sales, for the nine months ended March 31, 2024, and the nine months ended March 31, 2023. However, we generated $45,000, and 5,000 for the quarter ended March 31, 2024, and 2023 in other income from CNTNR for consulting fees due to the promissory note entered in February 2023. See further discussion on Note 10 – Note receivable**.**
Previous wording
Total operating expenses in the six months ended December 31, 2023 were $300,311 compared to $393,808 for the same period in 2022. The decrease in operating expenses is primarily a result of decreased in professional fees - related party, and management compensation. The Company’s net loss was $387,501 for the six months ended December 31, 2023 compared to $481,388 for the six months ended December 31, 2022. The net loss for this period is primarily a result of operating expenses, and interest expense.
Current wording
Total operating expenses in the nine months ended March 31, 2024 were $340,535 compared to $786,731 for the same period in 2023. The decrease in operating expenses is primarily a result of a decrease in professional fees - related party, management compensation, and general and administrative expenses. The Company’s net loss was $486,970 for the nine months ended March 31, 2024 compared to $909,099 for the nine months ended March 31, 2023. The net loss for this period is primarily a result of operating expenses, and interest expenses.
Previous wording
Our cash balance at December 31, 2023 was $398 compared to $32 at December 31, 2022. We do not believe these cash reserves are sufficient to cover our expenses for our operations for the next 12 months. We will require additional funding for our ongoing operations.
Current wording
Our cash balance at March 31, 2024 was $58 compared to $499,690 at March 31, 2023. We do not believe these cash reserves are sufficient to cover our expenses for our operations for the next 12 months. We will require additional funding for our ongoing operations.
Previous wording
As of our fiscal quarter ended December 31, 2023, we received $279,750, from a promissory note issued by a related party.
Current wording
During our three fiscal quarters ended March 31, 2024, and 2023, we received $1,708,000, and $700,000, from a promissory note issued by a related party.
Previous wording
In addition, we intend to raise funds through the sale of equity and debt securities. If we cannot raise any additional financing prior to the expiration of the first quarter of 2024, we believe we will be able to obtain loans from management in the future, if necessary, but have no agreement in writing.
Current wording
In addition, we intend to raise funds through the sale of equity and debt securities. If we cannot raise any additional financing prior to the expiration of the fourth quarter of 2024, we believe we will be able to obtain loans from management in the future, if necessary, but have no agreement in writing.
Previous wording
Additional issuances of equity or convertible debt securities will result in dilution to our current shareholders. Further, such securities might have rights, preferences, or privileges senior to our common stock. Additional financing may not be available upon acceptable terms, or at all. If adequate funds are not available or are not available on acceptable terms, we may not be able to continue our operations.
Current wording
Additional issuances of equity or convertible debt securities will result in dilution to our current shareholders. Further, such securities might have rights, preferences, or privileges senior to our common stock. Additional financing may not be available on acceptable terms, or at all. If adequate funds are not available or are not available on acceptable terms, we may not be able to continue our operations.
Previous wording
As reflected in the accompanying financial statements, the Company had an accumulated deficit of approximately $12,495,987 at December 31, 2023 and net loss from operations of $300,311 for the six months ended December 31, 2023.
Current wording
As reflected in the accompanying financial statements, the Company had an accumulated deficit of approximately $12,595,457 at March 31, 2024 and net loss from operations of $340,535 for the nine months ended March 31, 2024.