Invizyne Technologies Inc
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
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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.
Sep 30, 2024 · Filed Nov 12, 2024
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30,2024
OR
☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Commission File Number:001-42204
INVIZYNE TECHNOLOGIES INC.
(Exact name of registrant as specified in its charter)
| Nevada | 83-4550057 |
|---|---|
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
| 750 Royal Oaks Drive, Suite 106 Monrovia, CA 91016 (626) 415-1488 | 91016 |
|---|---|
| (Address of principal executive offices) | (Zip code) |
**(626) 415-1488 **
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Exchange Act:
None
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock | IZTC | Nasdaq Capital Markets |
Securities registered pursuant to Section 12(g) of the Act:
None
Indicate by check mark whether the issuer (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act 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 last 90 days.YES ☒ NO ☐
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 ☒ NO ☐
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,” “non-accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large Accelerated Filer | ☐ | Accelerated Filer | ☐ |
|---|---|---|---|
| Non-accelerated Filer | ☐ | Smaller Reporting Company | ☒ |
| Emerging Growth Company | ☒ | ||
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.☒
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).YES ☐ NO☒
As of November 12, 2024, the number of outstanding shares of Common Stock of the registrant was 6,252,349.
TABLE OF CONTENTS
| Page Number | ||
|---|---|---|
| PART I · FINANCIAL INFORMATION | ||
| Item 1 - Condensed Unaudited Consolidated Financial Statements | 3 | |
| Condensed Unaudited Consolidated Balance Sheets – September 30, 2024 and December 31, 2023 | 3 | |
| Condensed Unaudited Consolidated Statements of Operations – Three and Nine months Ended September 30, 2024 and 2023 | 4 | |
| Condensed Unaudited Consolidated Statements of Changes in Deficit – Three months Ended September 30, 2024 and 2023 | 5 | |
| Condensed Unaudited Consolidated Statements of Cash Flows – Nine months Ended September 30, 2024 and 2023 | 6 | |
| Notes to Condensed Unaudited Consolidated Financial Statements | 7 | |
| Item 2 | Management’s Discussion and Analysis of Financial Conditions and Results of Operations | 17 |
| Item 3 | Quantitative and Qualitative Disclosures About Market Risk | 20 |
| Item 4 | Controls and Procedures | 20 |
| 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 | Mine Safety Disclosures | 21 |
| Item 5 | Other Information | 21 |
| Item 6 | Exhibits | 21 |
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