Form 10-Q - Quarterly report [Sections 13 or 15(d)]

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

Mark One

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2024

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ______ to _______

Commission File No. 333-248609

INCORDEX CORP.

(Exact name of registrant as specified in its charter)

Nevada

7371

EIN 98-1541457

(State or other jurisdiction of

incorporation or Organization)

(Primary Standard Industrial

Classification Code Number)

(IRS Employer Identification

Number)

6 Rosemary Way,

Nuneaton, United Kingdom CV10 7ST

+1 702 879 4409

(Address, including zip code, and telephone number,

including area code, of registrant’s principal executive offices)

Registered Agents Inc.

401 Ryland St., STE 200-A

Reno, NV 89502

775-401-6800

(Name, address, including zip code, and telephone number,

including area code, of agent for service)

Indicate by checkmark whether the issuer: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 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. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted 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 and post such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, 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. (Check one)

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 checkmark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

Applicable Only to Issuer Involved in Bankruptcy Proceedings During the Preceding Five Years. N/A

Indicate by checkmark whether the issuer has filed all documents and reports required to be filed by Section 12, 13 and 15(d) of the Securities Exchange Act of 1934 after the distribution of securities under a plan confirmed by a court. Yes ☐ No ☐

Applicable Only to Corporate Registrants

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the most practicable date:

Class	Outstanding as of May 10, 2024
Common Stock: $0.001	6,450,000

TABLE OF CONTENTS

PART 1	FINANCIAL INFORMATION
	Balance Sheets (Unaudited)	F-1
	Statements of Operations (Unaudited)	F-2
	Statements of Changes in Stockholders’ Equity (Unaudited)	F-3
	Statements of Cash Flows (Unaudited)	F-4
	Notes to Financial Statements (Unaudited)	F-5
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	4
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	7
Item 4.	Controls and Procedures	7

PART II.	OTHER INFORMATION	8
Item 1	Legal Proceedings	8
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	8
Item 3	Defaults Upon Senior Securities	8
Item 4	Mine safety disclosures	8
Item 5	Other Information	8
Item 6	Exhibits	8

	Signatures	9

INCORDEX CORP.

INDEX TO FINANCIAL STATEMENTS

For the three and nine months ended March 31, 2024 and 2023 (Unaudited)

Balance Sheets – March 31, 2024 (Unaudited) and June 30, 2023	F-1

Statements of Operations – Three and Nine months ended March 31, 2024 and 2023 (Unaudited)	F-2

Statements of Changes in Stockholders’ Equity – Three and Nine months ended March 31, 2024 and 2023 (Unaudited)	F-3

Statement of Cash Flows – Nine months ended March 31, 2024 and 2023 (Unaudited)	F-4

Notes to Financial Statements (Unaudited)	F-5

Table of Contents

INCORDEX CORP.

BALANCE SHEETS

	March 31, 2024 (unaudited)			June 30, 2023
ASSETS
Current Asset
Cash		1,795			5,392
Prepaid Expenses		7,350			1,800
Total Current Assets	$	9,145		$	7,192
Fixed Assets
Mobile Application, Net		18,817			-
Website, Net		4,231			2,088
Total Fixed Assets		23,048			2,088
Total Assets	$	32,193		$	9,280

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
Accounts Payable	$	14,000		$	-
Total Current Liabilities		14,000			-
Long Term Liabilities
Director Loan		11,314			7,314
Total Long Term Liabilities		11,314			7,314
Total Liabilities		25,314			7,314

Stockholders’ Equity
Common stock, par value $0.001; 75,000,000 shares authorized, 6,450,000 and 6,450,000 shares issued and outstanding		6,450			6,450
Additional Paid in Capital		27,550			27,550
Accumulated Deficit		(27,121	)		(32,034	)
Total Stockholders’ Equity		6,879			1,966

Total Liabilities and Stockholders’ Equity	$	32,193		$	9,280

See accompanying notes, which are an integral part of these financial statements

F-1

Table of Contents

INCORDEX CORP.

STATEMENTS OF OPERATIONS

Three and nine months ended March 31, 2024 and 2023

(Unaudited)

	For the three months ended March 31, 2024			For the three months ended March 31, 2023			For the nine months ended March 31, 2024			For the nine months ended March 31, 2023

REVENUES (services rendered)	$	5,994		$	-		$	26,336		$	-

OPERATING EXPENSES
General and Administrative Expenses		3,885			464			21,423			5,248
TOTAL OPERATING EXPENSES		(3,885	)		(464	)		(21,423	)		(5,248	)

NET INCOME (LOSS) FROM OPERATIONS		2,109			(464	)		4,913			(5,248	)

PROVISION FOR INCOME TAXES		-			-			-			-

NET PROFIT/LOSS	$	2,109		$	(464	)	$	4,913		$	(5,248	)

NET LOSS PER SHARE: BASIC AND DILUTED	$	0.00		$	(0.00	)	$	0.00		$	(0.00	)

WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED		6,450,000			6,450,000			6,450,000			6,450,000

See accompanying notes, which are an integral part of these financial statements

F-2

Table of Contents

INCORDEX CORP.

STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY

Three and nine months ended March 31, 2024 and 2023

(Unaudited)

	Common Stock				Additional Paid-in		Retained			Total Stockholders’
	Shares		Amount		Capital		Deficit			Equity
Balance at June 30, 2022		6,450,000	$	6,450	$	27,550	$	(23,207	)	$	10,793
Net loss		-		-		-		(1,014	)		(1,014	)
Balance at September 30, 2022 (Unaudited)		6,450,000	$	6,450	$	27,550	$	(24,221	)	$	9,779
Net loss		-		-		-		(3,770	)		(3,770	)
Balance at December 31, 2022 (Unaudited)		6,450,000	$	6,450	$	27,550	$	(27,991	)	$	6,009
Net loss		-		-		-		(464	)		(464	)
Balance at March 31, 2023 (Unaudited)		6,450,000	$	6,450	$	27,550	$	(28,455	)	$	5,545

Balance at June 30, 2023		6,450,000	$	6,450	$	27,550	$	(32,034	)	$	1,966
Net income		-		-		-		96			96
Balance at September 30, 2023 (Unaudited)		6,450,000	$	6,450	$	27,550	$	(31,938	)	$	2,062
Net income		-		-		-		2,708			2,708
Balance at December 31, 2023 (Unaudited)		6,450,000	$	6,450	$	27,550	$	(29,230	)	$	4,770
Net income		-		-		-		2,109			2,109
Balance at March 31, 2024 (Unaudited)		6,450,000	$	6,450	$	27,550	$	(27,121	)	$	6,879

See accompanying notes, which are an integral part of these financial statements

F-3

Table of Contents

INCORDEX CORP.

STATEMENTS OF CASH FLOWS

Nine months ended March 31, 2024 and 2023

(Unaudited)

	For the nine months ended March 31, 2024			For the nine months ended March 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss) for the period	$	4,913		$	(5,248	)
Adjustments to reconcile net loss to net cash from operating activities:
Accumulated Depreciation		3,040			1,248
Accounts Payable		14,000			-
Prepaid Expenses		(5,550	)		-
CASH FLOWS USED IN OPERATING ACTIVITIES		16,403			(4,000	)

CASH FLOWS FROM INVESTING ACTIVITIES
Mobile application		(20,000	)		-
Website purchase		(4,000	)		-
CASH FLOWS USED IN INVESTING ACTIVITIES		(24,000	)		-

CASH FLOWS FROM FINANCING ACTIVITIES
Director loan		4,000			-
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES		4,000			-

NET CHANGE IN CASH		(3,597	)		(4,000	)
Cash, beginning of period		5,392			9,555
Cash, end of period	$	1,795		$	5,555

SUPPLEMENTAL CASH FLOW INFORMATION:
Interest paid	$	-		$	-
Income taxes paid	$	-		$	-

See accompanying notes, which are an integral part of these financial statements

F-4

Table of Contents

INCORDEX CORP.

NOTES TO THE FINANCIAL STATEMENTS

Nine months ended March 31, 2024 and 2023

(Unaudited)

Note 1 – ORGANIZATION AND NATURE OF BUSINESS

Incordex Corp. (“the Company”, “we”, “us” or “our”) we were incorporated on June 12, 2020 and intend to offer handwritten letter service via our web platform. Incordex Corp. will be an online handwritten letter service that sends handwritten letters and cards. Our customers will be business and private persons. Customers will use our services to send real handwritten letters to prospects and new customers. We expect our main customers will be direct mail marketing companies. Private persons will use our services for their private needs. The letter writers will be freelancers around the world. Our freelancers will be working on an independent contract basis. Additionally, we plan to develop and sell Customer Relationship Management (“CRM”) program designed to assist businesses in sending handwritten letters to their customers. Also, we are planning to develop Reporting and Analytics Software analytics to help our customers see how effective these handwritten letters are in their marketing campaigns.

Our current address is 6 Rosemary Way, Nuneaton, CV107ST United Kingdom.

Note 2 – GOING CONCERN

The accompanying financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“GAAP”), which contemplate continuation of the Company as a going concern. The Company has an accumulated deficit of $27,121 as of March 31, 2024. The Company currently has losses and has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time. Therefore, there is substantial doubt about the Company’s ability to continue as a going concern. Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses. The Company intends to position itself so that it will be able to raise additional funds through the capital markets. In light of management’s efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern.

Note 3 – SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES

Basis of presentation

The accompanying unaudited condensed financial statements have been prepared in accordance with the rules and regulations (Regulation S-X) of the Securities and Exchange Commission (the “SEC”) and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The results of operations for the nine months ended March 31, 2024 and 2023 are not necessarily indicative of the operating results that may be expected for the year ending June 30, 2024. These unaudited condensed financial statements should be read in conjunction with the June 30, 2023, financial statements and notes thereto.

Use of Estimates

The preparation of financial statements in conformity with US GAAP 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.

F-5

Table of Contents

Fair Value of Financial Instruments

FASB ASC Topic 820, "Fair Value Measurement," defines fair value as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The standards apply to recurring and nonrecurring fair value measurements of financial and non-financial assets and liabilities. The Company determines the fair values of its assets and liabilities based on a fair value hierarchy that includes three levels of inputs that may be used to measure fair value.

The three levels are defined as follows:

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.

Income Taxes

The Company is a C Corporation under the Internal Revenue Code and a similar section of the state code.

All income tax amounts reflect the use of the liability method under accounting for income taxes. Income taxes are provided for the tax effects of transactions reported in the financial statements and consist of taxes currently due plus deferred taxes arising primarily from differences between financial and tax reporting purposes. Current year expense represents the amount of income taxes paid, payable or refundable for the period.

Deferred income taxes, net of appropriate valuation allowances, are determined using the tax rates expected to be in effect when the taxes are actually paid. Valuation allowances are recorded against deferred tax assets when it is more likely than not that such assets will not be realized. When an uncertain tax position meets the more likely than not recognition threshold, the position is measured to determine the amount of benefit or expense to recognize in the financial statements.

The Company’s income tax returns are subject to review and examination by federal, state and local governmental authorities. As of March 31, 2024, there is no year open to examination with federal, state and local governmental authorities. To the extent penalties and interest are incurred through an examination, they would be included in the income tax section of the statement of operations and comprehensive loss.

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 dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. As of March 31, 2024 there were no potentially dilutive debt or equity instruments issued or outstanding.

Comprehensive Income

Comprehensive income is defined as all changes in stockholders’ equity, exclusive of transactions with owners, such as capital investments. Comprehensive income includes net income or loss, changes in certain assets and liabilities that are reported directly in equity such as translation adjustments on investments in foreign subsidiaries and unrealized gains (losses) on available-for-sale securities. As of March 31, 2024 were no differences between our comprehensive loss and net loss.

F-6

Table of Contents

Revenue Recognition

The Company recognizes revenue in accordance with Accounting Standards Codification (“ASC”) 606, “Revenue from Contracts with Customers”. The core principle of ASC 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. An entity recognizes revenue in accordance with that core principle by applying the following steps: Step 1: Identify the contract(s) with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. Specifically, Section 606-10-50 requires an entity to provide information about: a. Revenue recognized from contracts with customers, including the disaggregation of revenue into appropriate categories; b. Contract balances, including the opening and closing balances of receivables, contract assets, and contract liabilities; c. Performance obligations, including when the entity typically satisfies its performance obligations and the transaction price that is allocated to the remaining performance obligations in a contract; d. Significant judgments, and changes in judgments, made in applying the requirements to those contracts.

The Company’s revenues are recognized at a point-in-time as ownership of software (when it is approved by the customer) is transferred at a distinct point in time per the terms of a contract. Any liability of the Company shall be limited to the total of all amounts paid by the customer for services under the contract.

The Company collects payment from customers prior to transferring ownership of the software and may require deposits from customers at the time an order is placed. When deposits are collected prior to transferring ownership of the software the Company recognizes deferred revenue until the transfer is made.

We've developed a specialized component of a Customer Relationship Management (CRM) program designed to assist businesses in sending handwritten letters to their customers. This CRM module is installed on the company's own servers and is intended for internal use. We've created this program for two companies, one based in the UK and the other in Hong Kong.

For the nine months ended March 31, 2024, the Company has generated $26,336 in revenue.

Following is a summary of customers who accounted for more than ten percent of the Company’s revenues:

	Three Months Ended March 31,				Nine Months Ended March 31,
	2024		2023		2024		2023
	Sales %		Sales %		Sales %		Sales %
Customer A		-		-		29		-
Customer B		-		-		28		-
Customer C		-		-		19		-
Customer D		64		-		15		-
Customer E		36		-		8		-
Total		100		-		100		-

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.

F-7

Table of Contents

Note 4 – INTANGIBLE ASSETS

The Company purchased and possesses an operative website. The Company purchased the website for $5,000 and is amortizing the asset straight-line over its three-year useful life or $1,664 per year. For the nine months ended March 31, 2024 the Company recognized amortization expense in the amount of $1,248. As of March 31, 2024 the accumulated amortization of the website was $4,160.

In October 2023 the Company launched its website with possible CRM integration. The Company purchased the website for $4,000 and is amortizing the asset straight-line over its three-year useful life or $1,333 per year. For the nine months ended March 31, 2024 the Company recognized amortization expense in the amount of $609. As of March 31, 2024 the accumulated amortization of the website was $609.

In December 2023 the Company launched a mobile application. The Company purchased the mobile application for $20,000 and is amortizing the asset straight-line over its five-year useful life or $4,000 per year. For the nine months ended March 31, 2024 the Company recognized amortization expense in the amount of $1,183. As of March 31, 2024 the accumulated amortization of the mobile application was $1,183.

Note 5– COMMON STOCK

The Company has 75,000,000, $0.001 par value shares of common stock authorized.

There were 6,450,000 shares of common stock issued and outstanding as of March 31, 2024 and June 30, 2023.

Voting Common Stock

All shares of common stock have voting rights and are identical. All holders of shares of voting common stock shall at every meeting of the stockholders be entitled to one vote for each share of the capital stock held by such stockholder.

Non-voting Common Stock

All of the other terms of the Non-Voting Common Stock shall be identical to the Voting Common Stock, except for the right of first refusal that attaches to the Non-Voting Common Stock, as explained in the Company’s Bylaws.

Note 6 – COMMITMENTS AND CONTINGENCIES

In the normal course of business, the Company may become a party to litigation matters involving claims against it. As of March 31, 2024, there are no current matters that would have a material effect on the Company’s financial position or results of operations.

Note 7 – SUBSEQUENT EVENTS

In accordance with FASB ASC Topic 855 “Subsequent Events”, the Company has analyzed its operations through May 10, 2024 and the date these financial statements were available to be issued, and there were no events to report.

F-8

Table of Contents

FORWARD LOOKING STATEMENTS

Statements made in this Form 10-Q that are not historical or current facts are "forward-looking statements" made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 (the "Act") and Section 21E of the Securities Exchange Act of 1934. These statements often can be identified by the use of terms such as "may," "will," "expect," "believe," "anticipate," "estimate," "approximate" or "continue," or the negative thereof. We intend that such forward-looking statements be subject to the safe harbors for such statements. We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management's best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events.

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION

GENERAL INFORMATION ABOUT OUR COMPANY

We were incorporated in Nevada on June 12, 2020. We are a development stage company that was formed to offer handwritten letter service via our website platform. We plan to develop and sell Customer Relationship Management (CRM) program designed to assist businesses in sending handwritten letters to their customers. Also, we are planning to develop Reporting and Analytics Software analytics to help our customers see how effective these handwritten letters are in their marketing campaigns. Our principal executive offices are located at 6 Rosemary Way, Nuneaton, United Kingdom CV10 7ST. Our phone number is +1 702 879 4409.

From inception until the date of this filing, we have had very limited operating activities. Our independent registered public accounting firm has issued an audit opinion for Incordex Corp. which includes a statement expressing substantial doubt as to our ability to continue as a going concern.

Our President, Iurii Abramovici, will offer shares of our common stock to his friends, family members and business associates in United Kingdom and Europe.

Great Importance – A hand addressed envelope and handwritten letter suggests the sender is somebody the recipient knows. That creates an aura of great importance for the piece.

Personalization – A handwritten address and letter in beautiful ink creates a much more personal impression than the pre-printed variety. When people feel a personal connection to a mailing, it’s hard to resist the urge to open it.

Contact – While digital communications continue to leave a big footprint in the marketing world, people by and large still respond more readily to something they can touch. Paper communications offer touchable, ‘real’ experiences that satisfy this basic need for touch. A personalized hand addressed envelope makes this experience even more real.

Feeling of Comfort – Because hand addressed direct mail offers a personalized connection, recipients feel much more comfortable and far less ‘on their guard’ when it comes time to decide – open it or trash it.

Table of Contents

Our Web Site

Customers will be able to choose personal handwritten letter service or business services on the website. Private customers will have to fill up simple forms on our web site. Forms will include information about customer name and address, recipient name and address, text and payment information. Business customers will have to fill out quote form via our website. Our site will have special forms for freelancers wishing to work with us. We are currently on the software development stage. Also, we plan to launch two websites: one to offer CRM software development and maintenance, which assists businesses in sending handwritten letters to their customers. The second website will be dedicated to the development of Reporting and Analytics Software, enabling businesses to assess the effectiveness of these handwritten letters in their marketing campaigns.

On September 28, 2023, the Company, entered into Website Development Agreement with Alex White (“Developer”).

On November 1, 2023, the Company, entered into a Mobile App Development Agreement with Ivenco FZE (“Developer”).

Revenue

For the year ended June 30, 2023, we have launched our web site at: https://incordexcorp.com/. The Company plans to generate revenue via direct sales and via online orders.

Competition

The market for direct marketing is highly competitive. Numerous online services will compete with us. Our competitors are substantially larger and more experienced than us and have longer operating histories and have materially greater financial and other resources than us.

Marketing

We plan to focus on direct sales online as we get started. Once we build a reputation and customer base, it will be easier to attract customers. We plan to market our products mainly in Europe and US. To promote our website and services, we are planning to use On-line Directories and Databases and Social Media.

Employees and Employment Agreements

At present, we have no employees other than our officer and director. We presently do not have pension, health, annuity, insurance, stock options, profit sharing or similar benefit plans; however, we may adopt such plans in the future. There are presently no personal benefits available to any officers, directors or employees.

Results of Operation

Our financial statements have been prepared assuming that we will continue as a going concern and, accordingly, do not include adjustments relating to the recoverability and realization of assets and classification of liabilities that might be necessary should we be unable to continue in operation.

We expect we will require additional capital to meet our long-term operating requirements. We expect to raise additional capital through, among other things, the sale of equity or debt securities.

Three Months Periods Ended March 31, 2024 and 2023:

During the three months period ended March 31, 2024 and 2023 we have generated $5,994 and $0 in revenues, respectively.

Table of Contents

For the three months period ended March 31, 2024 operating expenses were $(3,885). Operating expenses consist of mainly professional fees. For the three months period ended March 31, 2023 operating expenses were $(464). Operating expenses consist of mainly amortization expenses.

Our net income for the three months period ended March 31, 2024 was $2,109. Our net loss for the three months period ended March 31, 2023 was $464.

Nine Months Periods Ended March 31, 2024 and 2023:

During the nine months period ended March 31, 2024 and 2023 we have generated $26,336 and $0 in revenues, respectively. Our old website, which launched in 2021, did not attract many customers. However, the launch of a newly designed website and Android mobile application in 2023 garnered better customer attention, which helped us achieve significantly higher revenue for the nine months ended March 31, 2024 compared to the same period in 2023.

For the nine months period ended March 31, 2024 operating expenses were $(21,423). Operating expenses consist of mainly professional fees. For the nine months period ended March 31, 2023 operating expenses were $(5,248). Operating expenses consist of mainly professional fees.

Our net income for the nine months period ended March 31, 2024 was $4,913. Our net loss for the nine months period ended March 31, 2023 was $5,248.

Liquidity and Capital Resources

As of March 31, 2024, our total assets were $32,193 consisting of cash of $1,795, prepaid expenses of $7,350, website purchase of $4,231 and mobile application of $18,817. As of March 31, 2024, our current liabilities were $25,314 consisting of director loan of $11,314 and accounts payable of $14,000.

Cash Flows from Operating Activities for nine months ended March 31, 2024 and 2023

For the nine months ended March 31, 2024, net cash flows used in operating activities was $16,403. For the nine months ended March 31, 2023, net cash flows used in operating activities was $(4,000).

Cash Flows from Investing Activities

For the nine months ended March 31, 2024, net cash flows generated from investing activities was $(24,000). We have not generated cash flows from investing activities for the nine months ended March 31, 2023.

Cash Flows from Financing Activities

For the nine months ended March 31, 2024, net cash flows provided by financing activities was $4,000 from director loan. We have not generated cash flows from financing activities for the nine months ended March 31, 2023.

Plan of Operation and Funding

We expect that working capital requirements will continue to be funded through a combination of our existing funds and further issuances of securities. Our working capital requirements are expected to increase in line with the growth of our business.

Table of Contents

Existing working capital, further advances and debt instruments, and anticipated cash flow are expected to be adequate to fund our operations over the next three months. We have no lines of credit or other bank financing arrangements. Generally, we have financed operations to date through the proceeds of the private placement of equity and debt instruments. In connection with our business plan, management anticipates additional increases in operating expenses and capital expenditures relating to: (i) acquisition of inventory; (ii) developmental expenses associated with a start-up business; and (iii) marketing expenses. We intend to finance these expenses with further issuances of securities, and debt issuances. Thereafter, we expect we will need to raise additional capital and generate revenues to meet long-term operating requirements. 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 take advantage of prospective new business endeavors or opportunities, which could significantly and materially restrict our business operations. We will have to raise additional funds in the next twelve months in order to sustain and expand our operations. We currently do not have a specific plan of how we will obtain such funding; however, we anticipate that additional funding will be in the form of equity financing from the sale of our common stock. We have and will continue to seek to obtain short-term loans from our directors, although no future arrangement for additional loans has been made. We do not have any agreements with our directors concerning these loans. We do not have any arrangements in place for any future equity financing.

Off-Balance Sheet Arrangements

As of the date of this Quarterly Report, we do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.

Going Concern

The financial statements have been prepared "assuming that we will continue as a going concern," which contemplates that we will realize our assets and satisfy our liabilities and commitments in the ordinary course of business.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

No report required.

ITEM 4. CONTROLS AND PROCEDURES

Our management is responsible for establishing and maintaining a system of disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act) that is designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer’s management, including its principal executive officer or officers and principal financial officer or officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

An evaluation was conducted under the supervision and with the participation of our management of the effectiveness of the design and operation of our disclosure controls and procedures as of March 31, 2024. Based on that evaluation, our management concluded that our disclosure controls and procedures were not effective as of such date to ensure that information required to be disclosed in the reports that we file or submit under the Exchange Act, is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms. Such officer also confirmed that there was no change in our internal control over financial reporting during the nine-month period ended March 31, 2024 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

Table of Contents

PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

Management is not aware of any legal proceedings contemplated by any governmental authority or any other party involving us or our properties. As of the date of this Quarterly Report, no director, officer or affiliate is (i) a party adverse to us in any legal proceeding, or (ii) has an adverse interest to us in any legal proceedings. Management is not aware of any other legal proceedings pending or that have been threatened against us or our properties.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

No report required.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

No report required.

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5. OTHER INFORMATION

No report required.

ITEM 6. EXHIBITS

31.1		Certification of Chief Executive Officer pursuant to Securities Exchange Act of 1934 Rule 13a-14(a) or 15d-14(a).

32.1		Certifications pursuant to Securities Exchange Act of 1934 Rule 13a-14(b) or 15d-14(b) and 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes- Oxley Act of 2002.

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 Labels 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)

Table of Contents

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized on May 10, 2024.

	INCORDEX CORP.

	By:	/s/ Iurii Abramovici
	Name:	Iurii Abramovici
	Title:	President

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities indicated on May 10, 2024.

Signature		Title

/s/ Iurii Abramovici		President, Chief Executive Officer, Treasurer, Secretary,
Iurii Abramovici		and Director (Principal Executive Officer and Principal Accounting Officer)

nullnull

Cover - shares	9 Months Ended
Cover - shares	Mar. 31, 2024	May 10, 2024
Cover [Abstract]
Entity Registrant Name	INCORDEX CORP.
Entity Central Index Key	0001818550
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Current Reporting Status	Yes
Document Period End Date	Mar. 31, 2024
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Entity Ex Transition Period	true
Entity Common Stock Shares Outstanding		6,450,000
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	333-248609
Entity Incorporation State Country Code	NV
Entity Tax Identification Number	98-1541457
Entity Address Address Line 1	6 Rosemary Way
Entity Address City Or Town	Nuneaton
Entity Address Country	GB
Entity Address Postal Zip Code	CV10 7ST
City Area Code	702
Local Phone Number	879 4409
Security 12b Title	Common Stock: $0.001
Entity Interactive Data Current	Yes

BALANCE SHEETS - USD ($)	Mar. 31, 2024	Jun. 30, 2023
Current Asset
Cash	$ 1,795	$ 5,392
Prepaid Expenses	7,350	1,800
Total Current Assets	9,145	7,192
Fixed Assets
Mobile Application, Net	18,817	0
Website, Net	4,231	2,088
Total Fixed Assets	23,048	2,088
Total Assets	32,193	9,280
Current Liabilities
Accounts Payable	14,000	0
Total Current Liabilities	14,000	0
Long Term Liabilities
Director Loan	11,314	7,314
Total Long Term Liabilities	11,314	7,314
Total Liabilities	25,314	7,314
Stockholders' Equity
Common stock, par value $0.001; 75,000,000 shares authorized, 6,450,000 and 6,450,000 shares issued and outstanding	6,450	6,450
Additional Paid in Capital	27,550	27,550
Accumulated Deficit	(27,121)	(32,034)
Total Stockholders' Equity	6,879	1,966
Total Liabilities and Stockholders' Equity	$ 32,193	$ 9,280

BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2024	Jun. 30, 2023
BALANCE SHEETS
Common Stock, Par value	$ 0.001	$ 0.001
Common Stock, Shares authorized	75,000,000	75,000,000
Common Stock, Shares issued	6,450,000	6,450,000
Common Stock, Shares outstanding	6,450,000	6,450,000

STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
STATEMENTS OF OPERATIONS (Unaudited)
REVENUES (services rendered)	$ 5,994	$ 0	$ 26,336	$ 0
OPERATING EXPENSES
General and Administrative Expenses	3,885	464	21,423	5,248
TOTAL OPERATING EXPENSES	(3,885)	(464)	(21,423)	(5,248)
NET INCOME (LOSS) FROM OPERATIONS	2,109	(464)	4,913	(5,248)
PROVISION FOR INCOME TAXES	0	0	0	0
NET PROFIT/LOSS	$ 2,109	$ (464)	$ 4,913	$ (5,248)
NET LOSS PER SHARE: BASIC AND DILUTED	$ 0.00	$ (0.00)	$ 0.00	$ (0.00)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	6,450,000	6,450,000	6,450,000	6,450,000

STATEMENTS OF CHANGES IN STOCKHOLDERS EQUITY (Unaudited) - USD ($)	Total	Common Stock	Additional Paid-In Capital	Retained Deficit
Balance, shares at Jun. 30, 2022		6,450,000
Balance, amount at Jun. 30, 2022	$ 10,793	$ 6,450	$ 27,550	$ (23,207)
Net loss	(1,014)	$ 0	0	(1,014)
Balance, shares at Sep. 30, 2022		6,450,000
Balance, amount at Sep. 30, 2022	9,779	$ 6,450	27,550	(24,221)
Balance, shares at Jun. 30, 2022		6,450,000
Balance, amount at Jun. 30, 2022	10,793	$ 6,450	27,550	(23,207)
Net loss	(5,248)
Balance, shares at Mar. 31, 2023		6,450,000
Balance, amount at Mar. 31, 2023	5,545	$ 6,450	27,550	(28,455)
Balance, shares at Sep. 30, 2022		6,450,000
Balance, amount at Sep. 30, 2022	9,779	$ 6,450	27,550	(24,221)
Net loss	(3,770)	$ 0	0	(3,770)
Balance, shares at Dec. 31, 2022		6,450,000
Balance, amount at Dec. 31, 2022	6,009	$ 6,450	27,550	(27,991)
Net loss	(464)	$ 0	0	(464)
Balance, shares at Mar. 31, 2023		6,450,000
Balance, amount at Mar. 31, 2023	5,545	$ 6,450	27,550	(28,455)
Balance, shares at Jun. 30, 2023		6,450,000
Balance, amount at Jun. 30, 2023	1,966	$ 6,450	27,550	(32,034)
Net loss	96	$ 0	0	96
Balance, shares at Sep. 30, 2023		6,450,000
Balance, amount at Sep. 30, 2023	2,062	$ 6,450	27,550	(31,938)
Balance, shares at Jun. 30, 2023		6,450,000
Balance, amount at Jun. 30, 2023	1,966	$ 6,450	27,550	(32,034)
Net loss	4,913
Balance, shares at Mar. 31, 2024		6,450,000
Balance, amount at Mar. 31, 2024	6,879	$ 6,450	27,550	(27,121)
Balance, shares at Sep. 30, 2023		6,450,000
Balance, amount at Sep. 30, 2023	2,062	$ 6,450	27,550	(31,938)
Net loss	2,708	$ 0	0	2,708
Balance, shares at Dec. 31, 2023		6,450,000
Balance, amount at Dec. 31, 2023	4,770	$ 6,450	27,550	(29,230)
Net loss	2,109	$ 0	0	2,109
Balance, shares at Mar. 31, 2024		6,450,000
Balance, amount at Mar. 31, 2024	$ 6,879	$ 6,450	$ 27,550	$ (27,121)

STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	9 Months Ended
STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	Mar. 31, 2024	Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss) for the period	$ 4,913	$ (5,248)
Adjustments to reconcile net loss to net cash from operating activities:
Accumulated Depreciation	3,040	1,248
Accounts Payable	14,000	0
Prepaid Expenses	(5,550)	0
CASH FLOWS USED IN OPERATING ACTIVITIES	16,403	(4,000)
CASH FLOWS FROM INVESTING ACTIVITIES
Mobile application	(20,000)	0
Website purchase	(4,000)	0
CASH FLOWS USED IN INVESTING ACTIVITIES	(24,000)	0
CASH FLOWS FROM FINANCING ACTIVITIES
Director loan	4,000	0
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES	4,000	0
NET CHANGE IN CASH	(3,597)	(4,000)
Cash, beginning of period	5,392	9,555
Cash, end of period	1,795	5,555
SUPPLEMENTAL CASH FLOW INFORMATION:
Interest paid	0	0
Income taxes paid	$ 0	$ 0

ORGANIZATION AND NATURE OF BUSINESS

9 Months Ended

Mar. 31, 2024

ORGANIZATION AND NATURE OF BUSINESS

ORGANIZATION AND NATURE OF BUSINESS

Note 1 – ORGANIZATION AND NATURE OF BUSINESS

Our current address is 6 Rosemary Way, Nuneaton, CV107ST United Kingdom.

GOING CONCERN

9 Months Ended

Mar. 31, 2024

GOING CONCERN

GOING CONCERN

Note 2 – GOING CONCERN

SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES

9 Months Ended

Mar. 31, 2024

SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES

SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES

Note 3 – SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES

Basis of presentation

Use of Estimates

Fair Value of Financial Instruments

The three levels are defined as follows:

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.

Income Taxes

The Company is a C Corporation under the Internal Revenue Code and a similar section of the state code.

Basic Income (Loss) Per Share

Comprehensive Income

Revenue Recognition

For the nine months ended March 31, 2024, the Company has generated $26,336 in revenue.

Following is a summary of customers who accounted for more than ten percent of the Company’s revenues:

	Three Months Ended March 31,				Nine Months Ended March 31,
	2024		2023		2024		2023
	Sales %		Sales %		Sales %		Sales %
Customer A		-		-		29		-
Customer B		-		-		28		-
Customer C		-		-		19		-
Customer D		64		-		15		-
Customer E		36		-		8		-
Total		100		-		100		-

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.

INTANGIBLE ASSETS

9 Months Ended

Mar. 31, 2024

INTANGIBLE ASSETS

INTANGIBLE ASSETS

Note 4 – INTANGIBLE ASSETS

COMMON STOCK

9 Months Ended

Mar. 31, 2024

COMMON STOCK

COMMON STOCK

Note 5– COMMON STOCK

The Company has 75,000,000, $0.001 par value shares of common stock authorized.

There were 6,450,000 shares of common stock issued and outstanding as of March 31, 2024 and June 30, 2023.

Voting Common Stock

Non-voting Common Stock

COMMITMENTS AND CONTINGENCIES

9 Months Ended

Mar. 31, 2024

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES

Note 6 – COMMITMENTS AND CONTINGENCIES

SUBSEQUENT EVENTS

9 Months Ended

Mar. 31, 2024

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

Note 7 – SUBSEQUENT EVENTS

SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (Policies)

9 Months Ended

Mar. 31, 2024

SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES

Basis of presentation

Use of Estimates

Fair Value of Financial Instruments

The three levels are defined as follows:

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.

Income Taxes

The Company is a C Corporation under the Internal Revenue Code and a similar section of the state code.

Basic Income (Loss) Per Share

Comprehensive Income

Revenue Recognition

For the nine months ended March 31, 2024, the Company has generated $26,336 in revenue.

Following is a summary of customers who accounted for more than ten percent of the Company’s revenues:

	Three Months Ended March 31,				Nine Months Ended March 31,
	2024		2023		2024		2023
	Sales %		Sales %		Sales %		Sales %
Customer A		-		-		29		-
Customer B		-		-		28		-
Customer C		-		-		19		-
Customer D		64		-		15		-
Customer E		36		-		8		-
Total		100		-		100		-

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.

SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Mar. 31, 2024

SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES

Summary of customers revenues

	Three Months Ended March 31,				Nine Months Ended March 31,
	2024		2023		2024		2023
	Sales %		Sales %		Sales %		Sales %
Customer A		-		-		29		-
Customer B		-		-		28		-
Customer C		-		-		19		-
Customer D		64		-		15		-
Customer E		36		-		8		-
Total		100		-		100		-

GOING CONCERN (Details Narrative) - USD ($)	Mar. 31, 2024	Jun. 30, 2023
GOING CONCERN
Accumulated deficit	$ (27,121)	$ (32,034)

SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (Details)	3 Months Ended		9 Months Ended
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (Details)	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Sales percentage	100.00%	0.00%	100.00%	0.00%
Customer A
Sales percentage	0.00%	0.00%	29.00%	0.00%
Customer B
Sales percentage	0.00%	0.00%	28.00%	0.00%
Customer C
Sales percentage	0.00%	0.00%	19.00%	0.00%
Customer D
Sales percentage	64.00%	0.00%	15.00%	0.00%
Customer E
Sales percentage	36.00%	0.00%	8.00%	0.00%

SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES
Revenues	$ 5,994	$ 0	$ 26,336	$ 0

INTANGIBLE ASSETS (Details Narrative)	9 Months Ended
INTANGIBLE ASSETS (Details Narrative)	Mar. 31, 2024 USD ($)
Website [Member]
Amortization expense	$ 1,248
Accumulated amortization	$ 4,160
Amortization of asset, description	straight-line over its three-year useful life or $1,664 per year.
Intangible asset purchase	$ 5,000
Website One [Member]
Amortization expense	609
Accumulated amortization	$ 609
Amortization of asset, description	straight-line over its three-year useful life or $1,333 per year.
Intangible asset purchase	$ 4,000
Mobile Application [Member]
Amortization expense	1,183
Accumulated amortization	$ 1,183
Amortization of asset, description	straight-line over its five-year useful life or $4,000 per year.
Intangible asset purchase	$ 20,000

COMMON STOCK (Details Narrative) - $ / shares	Mar. 31, 2024	Jun. 30, 2023
COMMON STOCK
Common Stock, Par Value	$ 0.001	$ 0.001
Common Stock, Shares Authorized	75,000,000	75,000,000
Common Stock, Shares Issued	6,450,000	6,450,000
Common Stock, Shares Outstanding	6,450,000	6,450,000