CHASE PACKAGING CORP
For the period ended Mar 31, 2025. Filed May 13, 2025.
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, 2025 · Filed May 13, 2025
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2024-09-30; filed 2024-11-15.
0001477932-24-007327
ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-03-31; filed 2025-05-13.
0001477932-25-003613
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 50 previous paragraphs and 34 current paragraphs.
24 unchanged; 9 reworded; 0 added; 11 removed; 6 previous and 1 current paragraphs rearranged.
Tables are not compared: 5 previous and 3 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.
Removed paragraphs (11)
Previous report
For the nine months ended September 30, 2024 and 2023
Previous report
Revenue
Previous report
Operating Expenses
Previous report
Operating expenses increased by $39,857 for the nine months ended September 30, 2024 as compared to the nine months ended September 30, 2023. The increase was primarily related to the increase in legal and professional fees for the nine months ended September 30, 2024.
Previous report
Loss from Operations
Previous report
The Company incurred a loss from operations of $88,853 and $48,996 for the nine months ended September 30, 2024 and 2023, respectively.
Previous report
Other Income (Expense)
Previous report
Other income increased by $624,374 for the nine months ended September 30, 2024 as compared to the nine months ended September 30, 2023. The increase was related to the decrease in warrants modification expense for the nine months ended September 30, 2024.
Previous report
Net Loss
Previous report
The Company had a net loss of $76,831 for the nine months ended September 30, 2024, compared with a net loss of $661,348 for the nine months ended September 30, 2023. Decrease in net loss was due primarily to the decrease in warrants modification expense, offset by the increase in professional fee.
Previous report
The cash used in operating activities of $39,160 for the nine months ended September 30, 2023 principally resulted from our net loss of $661,348, as adjusted for a non-cash charge for warrants modification expense of $621,810.
Reworded paragraphs (9)
Previous wording
Operating expenses increased by $10,035 for the three months ended September 30, 2024 as compared to the three months ended September 30, 2023. The increase was primarily related to the increase in legal and professional fees for the three months ended September 30, 2024.
Current wording
Operating expenses decreased by $21,812 for the three months ended March 31, 2025 as compared to the three months ended March 31, 2024. The decrease was related to the decrease in legal and professional fees for the three months ended March 31, 2025.
Previous wording
The Company incurred a loss from operations of $22,163 and $12,128 for the three months ended September 30, 2024 and 2023, respectively.
Current wording
The Company incurred a loss from operations of $17,325 and $39,137 for the three months ended March 31, 2025 and 2024, respectively.
Previous wording
Other income increased by $946 for the three months ended September 30, 2024 as compared to the three months ended September 30, 2023. The increase was related to the increase in interest income for the three months ended September 30, 2024.
Current wording
Other income decreased by $1,048 for the three months ended March 31, 2025 as compared to the three months ended March 31, 2024. The decrease was related to the decrease in interest income for the three months ended March 31, 2025.
Previous wording
The Company had a net loss of $18,199 for the three months ended September 30, 2024, compared with a net loss of $9,110 for the three months ended September 30, 2023. Increase in net loss was due primarily to the increase in professional fees.
Current wording
The Company had a net loss of $14,507 for the three months ended March 31, 2025, compared with a net loss of $35,271 for the three months ended March 31, 2024. The decrease in net loss was due to the above-mentioned effect of legal and professional fees expense.
Previous wording
At September 30, 2024 the Company had cash and cash equivalents of $309,828, consisting of money market funds and U.S. Treasury and government securities maturing in 3 months or less. Management believes that its cash and cash equivalents are sufficient for its business activities for at least the next twelve months and for the costs of seeking an acquisition of an operating business.
Current wording
At March 31, 2025 the Company had cash and cash equivalents of $284,031, consisting of money market funds and U.S. Treasury and government securities maturing in 3 months or less. Management believes that its cash and cash equivalents are sufficient for its business activities for at least the next twelve months and for the costs of seeking an acquisition of an operating business.
Previous wording
Net cash of $78,343 and $39,160 were used in operations during the nine months ended September 30, 2024 and 2023, respectively.
Current wording
Net cash of $13,679 and $36,783 were used in operations during the three months ended March 31, 2025 and 2024, respectively.
Previous wording
The cash used in operating activities of $78,343 for the nine months ended September 30, 2024 principally resulted from our net loss of $76,831 offset by change in accounts payable and accrued expenses of $1,512.
Current wording
The cash used in operating activities of $36,783 for the three months ended March 31, 2024 principally resulted from our net loss of $35,271 offset by change in accounts payable and accrued expenses of $1,512.
Previous wording
No cash flows were used in or provided by investing activities during the nine months ended September 30, 2024 and 2023.
Current wording
No cash flows were used in or provided by investing activities during the three months ended March 31, 2025 and 2024.
Previous wording
No cash flows were used in or provided by financing activities during the nine months ended September 30, 2024 and 2023.
Current wording
No cash flows were used in or provided by financing activities during the three months ended March 31, 2025 and 2024.
Rearranged current paragraphs (1)
Current report — wording carried from elsewhere
The cash used in operating activities of $13,679 for the three months ended March 31, 2025 principally resulted from our net loss of $14,507 offset by change in accounts payable and accrued expenses of $828.
Rearranged previous paragraphs (6)
Previous report — wording carried elsewhere
The Company had no operations and no revenue for the nine months ended September 30, 2024 and 2023, and its only income was from interest income on its short-term investments which are classified as cash and cash equivalents.
Previous report — wording carried elsewhere
The following table presents our total operating expenses for the nine months ended September 30, 2024 and 2023.
Previous report — wording carried elsewhere
Other general and administrative expenses are comprised of transfer agent and EDGAR filer services and other services. These expenses were directly related to the maintenance of the corporate entity and the preparation and filing of reports with the Securities and Exchange Commission.
Previous report — wording carried elsewhere
The following table presents our total Other Income (Expense) for the nine months ended September 30, 2024 and 2023.
Previous report — wording carried elsewhere
Loss per share for the nine months ended September 30, 2024 and 2023 was approximately $(0.00) and $(0.01) based on the weighted-average shares issued and outstanding.
Previous report — wording carried elsewhere
It is anticipated that future operating expenses will decrease and then stabilize as the Company complies with its periodic reporting requirements; however, expenses may increase as the Company works to effect a business combination, although there can be no assurance that the Company will be successful in effecting a business combination.