Company: AGTX
Filing Date: 2025-07-16
Form Type: 10-K
Source: 0001477932-25-005077
Chunk: 9

Company: Agentix Corp.
Filing Date: 2025-07-16
Form: 10-K
Item: Item 8
Chunk 9
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 inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or unasserted claims that may result in such proceedings, the Company evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein. If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates that a potential material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. Research and Development The Company follows paragraph 730-10-25-1 of the FASB Accounting Standards Codification (formerly Statement of Financial Accounting Standards No. 2 “Accounting for Research and Development Costs”) and paragraph 730-20-25-11 of the FASB Accounting Standards Codification (formerly Statement of Financial Accounting Standards No. 68 “Research and Development Arrangements”) for research and development costs. Research and development costs are charged to expense as incurred. Research and development costs consist primarily of remuneration for material and testing costs for research and development. Foreign Currency Translation The functional currency of the Company’s foreign operation, Agentix Australia Pty Ltd, is deemed to be the local country’s currency (the Australian dollar). Assets and liabilities of Agentix Australia Pty Ltd are translated at their respective period-end exchange rates, and expenses are translated based on the average exchange rate for the period. The resulting balance sheet translation adjustments are included in other comprehensive income and are reflected as a separate component of the stockholder’s deficit. Related Parties The Company follows subtopic 850-10 of the FASB Accounting Standards Codification for the identification of related parties and disclosure of related party transactions.

 F-9Table of Contents

Pursuant to Section 850-10-20 the related parties include a. affiliates (“Affiliate” means, with respect to any specified Person, any other Person that, directly or indirectly through one or more intermediaries, controls, is controlled by or is under common control with such Person,