10-K: Byrn, Inc. 2025 Annual Report: Dormant Shell Status

Byrn, Inc. remains a dormant shell company with no operations or revenue, reporting a net loss of $40,025 for 2025.

Summary

• Byrn, Inc. is currently a dormant shell company with no active business operations or revenue.
• The company reported a net loss of $40,025 for the fiscal year ended December 31, 2025.
• Management is actively seeking to identify a business opportunity, potentially through a reverse merger or asset acquisition.
• The company has a working capital deficit of $96,612 as of December 31, 2025.
• Operations are currently funded by interest-free demand loans from the company's custodian, David Lazar.

Sentiment

Score: 3

Explanation: StockSavvy.ai views this as a neutral-to-negative report, reflecting the company's status as a non-operational shell with significant going-concern risks and no clear path to revenue generation.

Positives

• The company has no long-term debt obligations to third parties.
• Management has successfully maintained compliance with SEC reporting requirements despite the lack of operations.

Negatives

• The company has no revenue-generating operations.
• The company has a significant accumulated deficit of $117,562,137.
• There is substantial doubt regarding the company's ability to continue as a going concern.
• The company lacks a dedicated cybersecurity function or committee.

Risks

• Substantial doubt exists regarding the company's ability to continue as a going concern.
• The company has insufficient working capital to fund operations over the next 12 months.
• Management may be unable to identify or successfully execute a viable business combination.
• Any future business combination will likely result in significant dilution to existing shareholders.
• The company lacks diversification, increasing the risk of total loss if a future venture fails.

Future Outlook

Management intends to explore and identify viable business opportunities within the U.S., including seeking to acquire a business in a reverse merger, asset purchase, or similar transaction, though no specific targets have been identified.

Management Comments

• Management intends to explore and identify business opportunities within the U.S., including a potential acquisition of an operating entity through a reverse merger.
• Our ability to effectively identify, develop and implement a viable plan for our business may be hindered by risks and uncertainties which are beyond our control.

Industry Context

StockSavvy.ai notes that Byrn, Inc. functions as a 'blank check' or 'shell' company, a common vehicle in the OTC market used to facilitate reverse mergers for private companies seeking public status without a traditional IPO.

Comparison to Industry Standards

• The company's financial profile is consistent with other dormant OTC shell companies.
• The reliance on a single individual (David Lazar) for funding and management is typical for micro-cap shell entities.

Corporate Governance

Legal Proceedings

• None

Related Party Transactions

• David Lazar, the company's custodian, provided $45,800 in interest-free demand loans during 2025.

Stakeholder Impact

• Shareholders face significant dilution risk from potential future equity issuances.
• The company's lack of operations provides no current value to shareholders beyond the potential for a future reverse merger.

Next Steps

• Continue searching for a viable business opportunity or reverse merger target.
• Secure additional funding to cover administrative costs and SEC reporting obligations.
• Maintain compliance with ongoing SEC reporting requirements.

Key Dates

Recommendation

The stock is essentially a speculative vehicle for a potential future reverse merger. Investors should hold only if they are comfortable with the high risk of total loss and the lack of current operational value.

Keywords

dormant shell, reverse merger, SEC filing, Form 10-K, David Lazar, capital raise, going concern