NFiniTi Inc., incorporated on January 23, 2012, and rebranded from American Oil and Gas Inc. on December 30, 2021, focuses on the acquisition, exploration, and development of oil and gas properties. As of July 31, 2024, the company remains in the exploration stage, with no properties operated or exploration activities commenced.

The financial performance for the nine months ended July 31, 2024, shows that NFiniTi has not generated any revenue since its inception. The company reported a net loss of $18,667, compared to a net loss of $13,979 for the same period in the previous fiscal year. Operating expenses increased to $18,667 from $13,979 year-over-year, reflecting a rise in costs associated with maintaining operations.

For the three months ended July 31, 2024, NFiniTi's operating expenses were $2,675, a decrease from $4,408 in the same period of 2023. The net loss for this quarter also decreased to $2,675 from $4,408 year-over-year. Despite these reductions in quarterly losses, the overall financial position remains precarious, with an accumulated deficit of $212,693 and a working capital deficit of $152,693, up from $134,026 as of October 31, 2023.

The company’s cash position remains unchanged at $0 as of July 31, 2024, consistent with the previous reporting period. NFiniTi relies on loans from its president, Michael Noble, and shareholders for operating capital. As of the reporting date, the company owed $6,744 to Noble and $137,124 to shareholders, an increase from $116,925 owed as of October 31, 2023.

The anticipated expenditures for fiscal 2024 are projected at $16,500, which includes $10,000 for professional fees, $5,000 for general administrative costs, and $1,500 for working capital. The company has received proceeds of $20,199 for the nine months ended July 31, 2024, with no repayments made during this period.

A going concern opinion was issued by the auditor on the financial statements for the period ending October 31, 2023, indicating that the company's continuation depends on financial support from shareholders, the ability to obtain equity financing, and achieving profitable operations. Management has acknowledged that disclosure controls and procedures were not effective as of July 31, 2024, and no changes in internal controls over financial reporting were made during the quarter that materially affected the reporting process.