Company: AGTX
Filing Date: 2025-07-16
Form Type: 10-K
Source: 0001477932-25-005077
Chunk: 91

Company: Agentix Corp.
Filing Date: 2025-07-16
Form: 10-K
Item: Item 1A
Chunk 91
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 and 2024, these shares had not been issued and were included in common stock to be issued in the consolidated balance sheet. During the year ended March 31, 2023, the Company granted 307,102 shares of the Company’s common stock in exchange for a one year software subscription, which totaled $32,000. The fair value of the common stock issued was $0.10, which was determined based on the historical market price of the Company’s common stock as of the date of issuance. The fair value determined was amortized ratably over the one-year subscription period to general and administrative expenses. As of March 31, 2025 and 2024, 107,102 shares of the 307,102 shares granted had not been issued and were included in common stock to be issued in the consolidated balance sheet.

Note 5 – Deferred Tax Assets and Income Tax Provision At 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