Company: NTCS
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001683168-25-004268
Chunk: 309

Company: Natics Corp.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 9B
Chunk 309
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NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES

Basis of presentation

The accompanying financial statements have been
prepared in accordance with generally accepted accounting principles in the United States of America. The Company’s year-end is
April 30.

Revenue

In accordance with ASC 606, revenue is measured
based on a consideration specified with a customer and recognized when we satisfy the performance obligation specified with a customer.

During the year ended April 30, 2025, we generated total revenue of
$16,200.

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-8 

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.

Due to its short-term nature, the carrying value
of cash, director loans and issuance of common stock approximated fair value at April 30, 2025.

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