CONECTISYS CORP 10-K

ITEM 9A. CONTROLS AND PROCEDURES Evaluation of Disclosure Controls and Procedures Our management conducted an evaluation, with the participation of our Chief Executive Officer, who is our principal executive officer and our principal financial and accounting officer, of the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) as of the end of the period covered by this annual report on Form 10-K. Based on that evaluation, we concluded that because of the material weakness and significant deficiencies in our internal control over financial reporting described below, our disclosure controls and procedures were not sufficient as of December 31, 2024. Such weaknesses and deficiencies are principally caused by our lack of employees and financial resources. 12 ITEM 9B. OTHER INFORMATION During the quarter ended December 31, 2024, no director or officer adopted or terminated any Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement, as each term is defined in Item 408(a) of Regulation S-K. ITEM 9C. DISCLOSURE REGARDING FOREIGN JUSRISDICTIONS THAT PREVENT INSPECTIONS. Not applicable. 13 PART III ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE Directors and Executive Officers The following table sets forth the name, age, and position with us for our sole director and officer as of September 30, 2022: Name Age Position Since Danilo Cacciamatta 79 Director, Chief Executive Officer and Chief Financial Officer August, 2020 Danilo Cacciamatta has served as our sole director and officer since August 1, 2020. He was elected to the Board of Directors of California First Leasing Corporation in June 2001. In June 2020, he was elected to the Board of Directors of West Texas Resources. Inc. Mr. Cacciamatta was the CEO of Cacciamatta Accountancy Corporation, a PCAOB registered independent public accounting firm specializing in audits of SEC reporting companies, from 1989 to 2010. From 1972 to 1988, Mr. Cacciamatta was with KPMG Peat Marwick, first as a management consultant in Milan, Italy, and later in the audit group of the Orange County office in California. He was elected to partnership in 1980. His CPA license from the state of California is currently inactive. Mr. Cacciamatta graduated from Pomona College with a B.A in economics and the University of California at Riverside with an M.B.A. CONFLICTS OF INTEREST – GENERAL Our sole director and officer is, or may become, in his individual capacity, an officer, director, controlling shareholder and/or partner of other entities engaged in a variety of businesses. Thus, there exist potential conflicts of interest including, among other things, time, efforts, and corporation opportunity, involved in participation with such other business entities. While our sole officer and director of our business is engaged in business activities outside of our business, he devotes to our business such time as he believes to be necessary. CONFLICTS OF INTEREST – CORPORATE OPPORTUNITIES There are no requirements in our Articles of Incorporation or Bylaws which requires officers and directors of the Company to disclose to us business opportunities which come to their attention. Our officers and directors do, however, have a fiduciary duty of loyalty to us to disclose to us any business opportunities which come to their attention, in their capacity as an officer and/or director or otherwise. Excluded from this duty would be opportunities which the person learns about through his involvement as an officer and director of another company. We have no intention of merging with or acquiring an affiliate, associate person or business opportunity from any affiliate or any client of any such person. COMMITTEES OF THE BOARD OF DIRECTORS The members of our Board are elected for one-year terms, to hold office until the next general meeting of stockholders, or until removed from office in accordance with our bylaws. Our Board does not maintain a separate audit, nominating or compensation committee. Functions customarily performed by such committees are performed by the Board as a whole. Code of Ethics To date, we have not adopted a Code of Ethics applicable to our principal executive officer and principal financial officer because the Company has no meaningful operations. The Company does not believe that a formal written code of ethics is necessary at this time. We expect that the Company will adopt a code of ethics if and when the Company successfully completes a business combination that results in the acquisition of an on-going business and thereby commences operations. 14 ITEM 11. EXECUTIVE COMPENSATION Mr. Danilo Cacciamatta is our sole director and officer. Executive compensation during the two fiscal years ended December 31, 2024, was as follows: NAME AND PRINCIPAL POSITION SALARY BONUS STOCK AWARDS OPTIONS AWARDS ($) NONQUALIFIED DEFERRED COMPENSATION ($) ALL OTHER COMPENSATION TOTAL Danilo Cacciamatta, Director, President, Chief Executive Officer, Chief Financial Officer – – – – – – – ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT The following table sets forth, as of January 31, 2025, the number and percentage of the outstanding shares of Common Stock, which, according to the information available to us, were beneficially owned by: (i) each person who is currently a director, (ii) each executive officer, (iii) all current directors and executive officers as a group, and (iv) each person who is known by us to own beneficially more than 5% of our outstanding Common Stock. Except as otherwise indicated, the persons named in the table have sole voting and dispositive power with respect to all shares beneficially owned, subject to community property laws where applicable. Name and Address of Beneficial Owner Number of Common Shares Percent of Class Danilo Cacciamatta, sole officer, and director (1) 838,310 94.34% All executive officers, beneficial owners, and directors as a group 838,310 94.34% (1) c/o 14308 S. Goss Rd, Cheney, WA 9904 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE Mr. Cacciamatta, our sole director and officer, provides office space at no cost to the Company. There are no other related party transactions. ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES Not applicable. We are an inactive registrant. 15 PART IV ITEM 15. EXHIBIT AND FINANCIAL STATEMENT SCHEDULES (a) Financial statements Our unaudited financial statements are included herein commencing on page F-1 following. (b) Financial statement schedules Schedules are not required. (c) Exhibits The exhibits to this annual report are listed below. Exhibit Number Description 31.1 Certification of the Chief Executive Officer Required by Rule 13a-14(a) of the Securities Exchange Act of 1934, as amended, as Adopted Pursuant to Section 302 of the Sarbanes- Oxley Act of 2002 31.2 Certification of the Chief Financial Officer Required by Rule 13a-14(a) of the Securities Exchange Act of 1934, as amended, as Adopted Pursuant to Section 302 of the Sarbanes- Oxley Act of 2002 32.1 Certification of Chief Executive Officer and Chief Financial Officer Pursuant to 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 Label Linkbase Document** 101.PRE Inline XBRL Taxonomy Extension Presentation Linkbase Document** 104 Cover Page Interactive Data File (formatted in IXBRL, and included in exhibit 101).** ________________ ** The SEC Financial Reporting Manual Section 1320.2 - Inactive Registrants states that if Registrant has gross receipts or expenditures not over $100,000; no securities activity; and no material changes, it MAY PROVIDE UNAUDITED FINANCIAL STATEMENTS IN FORM 10-K. XBRL requires auditor information and for this reason, this filing does not contain xbrl as it would suspend. ITEM 16. FORM 10-K SUMMARY None. 16 CONECTISYS CORPORATION INDEX TO UNAUDITED FINANCIAL STATEMENTS Page Balance Sheets as of December 31, 2024 and 2023 F-2 Statements of Operations for the years ended December 31, 2024 and 2023 F-3 Statements of Changes in Shareholders' (Deficit) for the years ended December 31, 2024 and 2023 F-4 Statements of Cash Flows for the years ended December 31, 2024 and 2023 F-5 Notes to Unaudited Financial Statements F-6 F- 1 CONECTISYS CORPORATION UNAUDITED BALANCE SHEETS December 31, 2024 December 31, 2023 ASSETS Current assets Cash and cash equivalents $ – $ – Total current assets – – Property and equipment, net – – Total assets $ – $ – LIABILITIES AND DEFICIT Current liabilities Accrued expenses $ 14,906 $ 14,006 Accounts payable 39,089 35,700 Total current liabilities 53,995 49,706 Total liabilities 53,995 49,706 Commitments and contingencies – – Stockholders’ deficit Preferred stock - Class A, $1.00 par value; 1,000,000 shares authorized, none issued and outstanding – – Convertible preferred stock - Class B, $1.00 par value; 1,000,000 shares authorized, none issued and outstanding – – Preferred stock - undesignated; 48,000,000 shares authorized, none issued and outstanding – – Common stock - no par value; 250,000,000 shares authorized, 888,579 shares issued and outstanding 32,246,441 32,246,441 (Accumulated deficit) (32,300,436 ) (32,296,147 ) Accumulated other comprehensive income (loss) – – Total deficit (53,995 ) (49,706 ) Total liabilities and deficit $ – $ – S ee notes to unaudited financial statements. F- 2 CONECTISYS CORPORATION UNAUDITED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) For the Years Ended December 31, 2024 2023 REVENUE $ – $ – COST OF REVENUE – – GROSS PROFIT – – OPERATING EXPENSES General and administrative 4,289 6,600 Total operating expenses 4,289 6,600 (LOSS) FROM OPERATIONS (4,289 ) (6,600 ) (LOSS) BEFORE INCOME TAXES (4,289 ) (6,600 ) PROVISION FOR INCOME TAXES – – NET (LOSS) (4,289 ) (6,600 ) OTHER COMPREHENSIVE INCOME (LOSS) – – COMPREHENSIVE INCOME (LOSS) $ (4,289 ) $ (6,600 ) WEIGHTED AVERAGE NUMBER OF COMMON SHARES Basic and diluted 888,579 888,579 (LOSS) PER SHARE Basic and diluted $ (0.00 ) $ (0.01 ) S ee notes to unaudited financial statements. F- 3 CONECTISYS CORPORATION UNAUDITED STATEMENTS OF CHANGES IN DEFICIT Common Stock Accumulated Shares Amount Deficit Total Balance, December 31, 2022 888,579 $ 32,246,441 $ (32,289,547 ) $ (43,106 ) Net loss – – (6,600 ) (6,600 ) Balance, December 31, 2023 888,579 $ 32,246,441 $ (32,296,147 ) $ (49,706 ) Net loss – – (4,289 ) (4,289 ) Balance, December 31, 2024 888,579 $ 32,246,441 $ (32,300,436 ) $ (53,995 ) See notes to unaudited financial statements. F- 4 CONECTISYS CORPORATION UNAUDITED STATEMENTS OF CASH FLOWS For the Years Ended December 31, 2024 2023 CASH FLOWS FROM OPERATING ACTIVITIES Net (loss) $ (4,289 ) $ (6,600 ) Adjustments to reconcile net (loss) to cash (used in) operating activities: Change in operating assets and liabilities Accrued expenses 850 1,050 Accounts payable 3,439 5,550 Net cash used in operating activities – – CASH FLOWS FROM INVESTING ACTIVITIES – – CASH FLOWS FROM FINANCING ACTIVITIES – – CHANGES IN CASH – – CASH AND CASH EQUIVALENT, beginning of year – – CASH AND CASH EQUIVALENT, end of year $ – $ – SUPPLEMENTAL CASH FLOW INFORMATION: Cash paid for income tax $ – $ – Cash paid for interest $ – $ – See notes to unaudited financial statements. F- 5 Conectisys Corporation Notes to Unaudited Financial Statements December 31, 2024 Note 1 – Nature of business and organization ConectiSys Corporation (the “Company”) was incorporated in Colorado on February 2, 1986, under the name Coastal Financial Corp. On December 5, 1994, Coastal Financial Corp. changed its name to BDR Industries, Inc. which changed its name on October 16, 1995, to ConectiSys Corporation. The Company was engaged in the development of a low-cost automatic meter reading, or AMR, solution until it ceased all business activity in 2008. Note 2 – Basis of Presentation and Summary of significant accounting policies Basis of presentation The accompanying financial statements have been prepared in accordance with the generally accepted accounting principles in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities Exchange Commission (“SEC”). The Company changed its fiscal year end from September 30 to December 31 on January 31, 2023. The change did not result in any material differences in the Company’s financial statements because the Company has minimal activities and its quarterly operating results are not material. Cash and cash equivalents Cash and cash equivalents consist of amounts of cash on hand and bank deposits. Use of estimates and assumptions The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts of assets and liabilities reported and disclosures of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the periods presented. Actual results could differ from these estimates. Income taxes The Company accounts for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their perspective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which the temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are recorded, when necessary, to reduce deferred tax assets to the amount expected to be realized. The Company has adopted the provisions of ASC 740, Income Taxes. F- 6 Commitments and Contingencies In the ordinary course of business, the Company is subject to certain contingencies, including legal proceedings and claims arising out of the business that relate to a wide range of matters, such as government investigations and tax matters. The Company recognizes a liability for such contingency if it determines it is probable that a loss has occurred and a reasonable estimate of the loss can be made. The Company may consider many factors in making these assessments including historical and specific facts and circumstances of each matter. Earnings per share Basic earnings per share are computed by dividing net income attributable to holders of Common Stock by the weighted average number of Common Stock outstanding during the year. Diluted earnings per share reflect the potential dilution that could occur if securities to issue Common Stock were issued. Recently issued accounting pronouncements The Company does not believe that recently issued accounting standards will have a material effect on its financial statements. Subsequent events The Company evaluated subsequent events and transactions that occurred after the balance sheet date through the date that the financial statements are available to be issued. There are no material subsequent events that required recognition or additional disclosure. Going concern The accompanying financial statements have been prepared in conformity with generally accepted accounting principles, which contemplate continuation of the Company as a going concern. Additional capital infusion is necessary in order to fund current expenditures, acquire business opportunities and achieve profitable operations. This factor raises substantial doubt about the Company’s ability to continue as a going concern. The Company’s management intends to continue funding current expenditures and to raise additional funds. However, there can be no assurance that management will be successful in this endeavor. Note 3 – Equity The total number of authorized shares of capital stock, as amended, is currently 300,000,000, consisting of 250,000,000 common shares, no par value, and 50,000,000 shares of preferred stock. The number of post-split common shares outstanding is 888,579, of which 838,100 are owned by our sole director and officer. Of the 50,000,000 shares of preferred stock, 1,000,000 shares are designated Class A, $1.00 par value per share, with each share having voting rights equal to 100 common shares. In addition, 1,000,000 shares are designated Class B, $1.00 par value per share, with each share convertible into 10 common shares. The remaining 48,000,000 preferred shares authorized are undesignated. None of the preferred shares are issued and outstanding. F- 7 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. CONECTISYS CORPORATION By: /s/ Danilo Cacciamatta Danilo Cacciamatta Chief Executive Officer Principal Accounting Officer Date: February 21, 2025 S- 1