ConectiSys Corporation
CONC
Other OTC1.00
USD
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ConectiSys Corporation
CONC
(Other OTC)
Recent
price
1.00
P/E
ratio
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div
yld
- -
ROIC.AI
Capital Structure
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in mil. unless spec.- Similar Companies
- Business
- ConectiSys Corporation (CONC) is a shell company seeking merger opportunities with operating businesses to create shareholder value through acquisitions or reverse mergers. Incorporated in Colorado on February 2, 1986, originally as Coastal Financial Corp., the company changed its name to BDR Industries, Inc. in 1994 and to ConectiSys Corporation in 1995; it is headquartered at 14308 South Goss Road, Cheney, Washington 99004. Previously engaged in the electronic technology sector developing low-cost automatic meter reading (AMR) solutions, including the proprietary H-Net 4.0 wireless meter reading product for residential and commercial applications using specialized hardware and software, the company ceased all operations and revenue generation in 2008, reporting no revenues or significant assets since that time. The company currently conducts no active operations or core products and services, focusing instead on investigating business opportunities across any industry or geography without restrictions, subject to management's discretion based on factors such as financial requirements, management quality, growth potential, and competition. It maintains a minimal structure with one employee, President, CEO, CFO, and sole director Danilo Cacciamatta, who assumed control in 2020 and resumed voluntary SEC filings after a hiatus following Form 15 filing in 2014. No subsidiaries, parent relationships, or intellectual property are reported. In recent developments, the company extinguished all historical liabilities in 2017 via court-ordered default judgments against former creditors, including convertible notes from entities affiliated with Corey Ribotsky (such as NIR Group and Laurus Master Fund), accrued compensation waived by directors, and accounts payable, reducing its accumulated deficit by approximately $9.6 million and eliminating barriers from statutes of limitations. It adopted a calendar-year fiscal period and reported ongoing losses for the year ended December 31, 2024, with net income of -$4,290, an accumulated deficit of $32.3 million, and no cash balances or revenue, relying on potential future debt or equity raises to fund operations and merger pursuits. No partnerships, acquisitions, funding rounds, product launches, or strategic expansions have occurred in the last 1-2 years, with no merger candidates identified as of the latest SEC 10-K filing.