Company: AGTX
Filing Date: 2025-07-16
Form Type: 10-K
Source: 0001477932-25-005077
Chunk: 17

Company: Agentix Corp.
Filing Date: 2025-07-16
Form: 10-K
Item: Item 8
Chunk 17
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 March 31, 2025, no tax benefit has been recorded with respect to the net operating loss in the accompanying consolidated financial statements as the management of the Company believes that the realization of the Company’s net deferred tax assets would be considered more likely than not and accordingly, the potential tax benefits of the net loss carry-forwards are offset by the full valuation allowance. Deferred tax assets consist primarily of the tax effect of Net Operating Loss (“NOL”) carry-forwards. The Company estimated the expected income tax benefit from NOL carry-forwards of $1,868,000 and $1,706,000 as of March 31, 2025 and 2024, respectively, of which the Company provided a full valuation allowance of $1,868,000 and $1,706,000, respectively, and thus had a deferred tax asset, net of valuation allowance of $nil as of March 31, 2025 and 2024, respectively. The Company’s blended federal statutory income tax rate was 21% of which a NOL carry-forwards blended rate of 21% offset this rate and thus the effective income tax rate was % nil for all periods presented. The Company’s income tax filings are subject to audit by various taxing authorities. The Company’s open audit periods include from Inception (April 15, 2021) to the current tax year.

Note 6 – Subsequent Events Subsequent to March 31, 2025, Gray’s Peak extended the due date of the Note (see Note 3) by six months. As such, the new maturity date is December 31, 2025. In accordance with ASC 855, the Company has analyzed its operations subsequent to March 31, 2025 through the date these financial statements were issued and has determined that it does not have any material subsequent events to disclose in these financial statements.

 F-12Table of Contents

Item 9. Changes In And Disagreements With Accountants On Financial Disclosure.

None.

Item 9A.  Controls and Procedures.

Disclosure Controls and Procedures

Under the supervision and with the participation of our management, including our principal executive officer and our principal financial officer, we are responsible for conducting an evaluation of the effectiveness of the design and operation of our internal controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as of the end of the fiscal year covered