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NOTE 4 - INCORPORATION OF SUBSIDIARY
6 Months Ended
Jun. 30, 2025
Notes  
NOTE 4 - INCORPORATION OF SUBSIDIARY

NOTE 4 – INCORPORATION OF SUBSIDIARY

 

In February 2015, the company incorporated a subsidiary, Promedaff, Inc., and purchased a skin care product line and formulations for $2,000,000 against a promissory note. An e-commerce platform was set up for sales and marketing. The efforts did not bear any success, and the entire inventory was sold through the Seller and the Promissory Note was cancelled and marked “VOID”. The name of this entity had been changed to Motors & Metals, Inc.

 

As reported in 10Qs for the earlier quarters, as well as in 10-K for the Annual reports, on February 4, 2016 the company incorporated another subsidiary in the State of Virginia under the name of JK Sales, Corp. (on December 7, 2017 the name was changed to Accurate Auto Parts, Inc.,) and was doing business of buying end of life and salvage vehicles and selling auto parts. The assets of this subsidiary were sold in March 2024, however it continues to seek a subcontractor to continue the business.

 

On April 17, 2018, the company incorporated in Virginia, another subsidiary named Accurate Investments, Inc. the objective of acquiring real estate property, which plan is expected to finally materialize. Once a contract is concluded, then the information will be made public.

 

On January 4, 2017, the company incorporated in Virginia another subsidiary named City Autos, Corp. with the objectives of operating an auto dealership and had commenced operations. Free Flow Auto Auction, an online auto auction platform was also set up. Due to sale of the premises, both these entities remain inactive.

 

On December 22, 2020, the company, through another subsidiary named FFLO – Inside Auto Parts, Inc., acquired the assets and business of an auto recycling entity located on a 16-acre facility in Mineral, Virginia. These assets

through an amicable settlement, were resold to the seller in January 2022 due to the reason that the company failed to obtain to financing to redeem the promissory note given to the Seller.