MacReport.Net, Inc.

What they do

The company states it is a financial technology company that provides digital asset management and trading services. To date, its activities have been devoted to negotiating the acquisition of technology and recruiting team members to develop the technology and infrastructure necessary to launch its macXcoin digital asset exchange. It plans to offer spot trading of digital assets in dollar-denominated currency, focusing on assets already declared non-securities by the SEC, and does not plan to offer futures or other derivatives. It also describes plans for compliant clearing, settlement, custody and control of crypto-securities, including possibly entering a clearing arrangement or forming a clearing broker-dealer subsidiary.

Revenue drivers

• macXcoin digital asset exchange — Planned spot trading of digital assets in dollar-denominated currency; no revenue has been generated to date.
• Clearing, settlement and custody services — Planned compliant clearing, settlement, custody and control of crypto-securities, either through a clearing arrangement with a capable clearing firm or a new broker-dealer subsidiary; no revenue to date.
• Broker-dealer recordkeeping infrastructure — Planned infrastructure to meet broker-dealer recordkeeping obligations under Exchange Act Rule 17(a)(3); no revenue to date.

Recent performance

For the quarter ended February 29, 2024, revenue was $0.00, unchanged from $0.00 for the quarter ended February 28, 2023. As of February 29, 2024, total assets were $0.00, total liabilities were $18,200.00, and shareholder equity was negative $18,200.00. Cash and equivalents were $0.00 at February 29, 2024. Annual net income for 2023 was negative $3,800.00. Management states that the company is in a reorganization phase and has minimal to no revenue.

Strategy

The company plans to launch the macXcoin digital asset exchange for spot trading of digital assets that have already been declared non-securities by the SEC. It plans to offer dollar-denominated spot trading only and will not offer futures or other derivatives. It plans to create a mechanism for compliant clearing, settlement, custody and control of crypto-securities to comply with Exchange Act Rule 15c3-3(c)(7). It plans either to enter into a clearing arrangement with a capable clearing firm or form a new subsidiary to become a clearing broker-dealer and file the necessary new member application with FINRA. It also plans to build infrastructure to meet broker-dealer recordkeeping obligations under Exchange Act Rule 17(a)(3).

Risks

• No revenue and no assets — The company reported $0.00 revenue for the quarter ended February 29, 2024, $0.00 total assets, and negative $18,200.00 shareholder equity.
• Regulatory approval uncertainty — Management states there is no assurance that it will be able to secure the necessary approvals by the SEC and FINRA to execute its plans.
• Development-stage execution — Activities to date have been devoted to negotiating the acquisition of technology and recruiting team members, and the exchange and clearing infrastructure have not been launched.
• Limited operating history — The company was incorporated in December 2000 and redomiciled to Wyoming from Delaware on June 21, 2021, but remains in a reorganization phase with minimal to no revenue.

Outlook

Management states that the company is in a reorganization phase and has minimal to no revenue. It plans to launch the macXcoin digital asset exchange and related clearing, settlement and custody capabilities, subject to SEC and FINRA approvals. Management cautions that there is no assurance these approvals will be obtained.