Yale Transaction Finders (YTFD) 10-Q 14 Nov 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2024	Nov. 14, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2024
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity File Number	000-52528
Entity Registrant Name	YALE TRANSACTION FINDERS, INC.
Entity Central Index Key	0001311673
Entity Tax Identification Number	76-0736467
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	c/o Graubard Miller
Entity Address, Address Line Two	The Chrysler Building
Entity Address, Address Line Three	405 Lexington Avenue
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10174
City Area Code	(212)
Local Phone Number	818-8800
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	true
Entity Common Stock, Shares Outstanding		5,199,000

Condensed Balance Sheets (Unaud

Condensed Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
ASSETS
Cash	$ 3,360	$ 2,601
TOTAL ASSETS	3,360	2,601
Current liabilities
Accrued liabilities	4,986	9,650
Total current liabilities and total liabilities	116,446	87,206
Stockholders’ deficit
Preferred stock, par value $0.0001, 20,000,000 shares authorized, no shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively
Common stock, par value $0.0001, 80,000,000 shares authorized, 5,199,000 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively	520	520
Additional paid-in capital	1,229,743	1,229,743
Accumulated deficit	(1,343,349)	(1,314,868)
Total stockholders (deficit)	(113,086)	(84,605)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	3,360	2,601
Related Party [Member]
Current liabilities
Note payable – related party	103,500	73,000
Accrued interest– related party	$ 7,960	$ 4,556

Condensed Balance Sheets (Una_2

Condensed Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	80,000,000	80,000,000
Common stock, shares issued	5,199,000	5,199,000
Common stock, shares outstanding	5,199,000	5,199,000

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Revenues
Operating Expenses
General and administrative	4,355	5,211	25,076	22,516
Loss from operations	(4,355)	(5,211)	(25,076)	(22,516)
Other expenses
Interest expense-related party	1,301	819	3,405	2,162
Net loss before income taxes	(5,656)	(6,030)	(28,481)	(24,678)
Net Loss	$ (5,656)	$ (6,030)	$ (28,481)	$ (24,678)
Basic loss per share	$ 0	$ 0	$ (0.01)	$ 0
Weighted average number of common shares outstanding – basic	5,199,000	5,199,000	5,199,000	5,199,000

Condensed Statement of Changes

Condensed Statement of Changes in Stockholders' Deficit (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2022	$ 520	$ 1,229,743	$ (1,276,558)	$ (46,295)
Balance, shares at Dec. 31, 2022	5,199,000
Net Loss			(10,063)	(10,063)
Balance at Mar. 31, 2023	$ 520	1,229,743	(1,286,621)	(56,358)
Balance, shares at Mar. 31, 2023	5,199,000
Balance at Dec. 31, 2022	$ 520	1,229,743	(1,276,558)	(46,295)
Balance, shares at Dec. 31, 2022	5,199,000
Net Loss				(24,678)
Balance at Sep. 30, 2023	$ 520	1,229,743	(1,301,236)	(70,973)
Balance, shares at Sep. 30, 2023	5,199,000
Balance at Dec. 31, 2022	$ 520	1,229,743	(1,276,558)	(46,295)
Balance, shares at Dec. 31, 2022	5,199,000
Net Loss				(38,310)
Balance at Dec. 31, 2023	$ 520	1,229,743	(1,314,868)	(84,605)
Balance, shares at Dec. 31, 2023	5,199,000
Balance at Mar. 31, 2023	$ 520	1,229,743	(1,286,621)	(56,358)
Balance, shares at Mar. 31, 2023	5,199,000
Net Loss			(8,584)	(8,584)
Balance at Jun. 30, 2023	$ 520	1,229,743	(1,295,206)	(64,943)
Balance, shares at Jun. 30, 2023	5,199,000
Net Loss			(6,030)	(6,030)
Balance at Sep. 30, 2023	$ 520	1,229,743	(1,301,236)	(70,973)
Balance, shares at Sep. 30, 2023	5,199,000
Balance at Dec. 31, 2023	$ 520	1,229,743	(1,314,868)	(84,605)
Balance, shares at Dec. 31, 2023	5,199,000
Net Loss			(8,762)	(8,762)
Balance at Mar. 31, 2024	$ 520	1,229,743	(1,323,610)	(93,367)
Balance, shares at Mar. 31, 2024	5,199,000
Balance at Dec. 31, 2023	$ 520	1,229,743	(1,314,868)	(84,605)
Balance, shares at Dec. 31, 2023	5,199,000
Net Loss				(28,481)
Balance at Sep. 30, 2024	$ 520	1,229,743	(1,343,349)	(113,086)
Balance, shares at Sep. 30, 2024	5,199,000
Balance at Mar. 31, 2024	$ 520	1,229,743	(1,323,610)	(93,367)
Balance, shares at Mar. 31, 2024	5,199,000
Net Loss			(14,063)	(14,063)
Balance at Jun. 30, 2024	$ 520	1,229,743	(1,337,693)	(107,430)
Balance, shares at Jun. 30, 2024	5,199,000
Net Loss			(5,656)	(5,656)
Balance at Sep. 30, 2024	$ 520	$ 1,229,743	$ (1,343,349)	$ (113,086)
Balance, shares at Sep. 30, 2024	5,199,000

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended				9 Months Ended		12 Months Ended
	Sep. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
OPERATING ACTIVITIES
Net loss	$ (5,656)	$ (8,762)	$ (6,030)	$ (10,063)	$ (28,481)	$ (24,678)	$ (38,310)
Adjustments to reconcile net loss to net cash used in operating activities:
Increase in interest payable- related party					3,405	2,162
Changes in operating assets and liabilities:
Increase (decrease) in accounts payable					(4,664)	(4,935)
Net cash used in operating activities					(29,740)	(27,451)
FINANCING ACTIVITIES
Proceeds from notes payable - related party					30,500	15,000
Net cash provided by financing activities					30,500	15,000
Net increase (decrease) in cash					760	(12,451)
Cash at beginning of period		$ 2,600		$ 12,876	2,600	12,876	12,876
Cash at end of period	$ 3,360		$ 425		$ 3,360	$ 425	$ 2,600

ORGANIZATION AND BASIS OF PRESE

ORGANIZATION AND BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BASIS OF PRESENTATION	(1) ORGANIZATION AND BASIS OF PRESENTATION Yale Transaction Finders, Inc. (the “Company”) was incorporated in Delaware on August 15, 2000 as Sneeoosh Corporation. On October 20, 2000 the Company filed an amended Certificate of Incorporation to change the name to Snohomish Corporation. The Company did not conduct any operations until April 15, 2003, the date the Company filed a subsequent amendment to change the name to Yacht Finders, Inc. On April 7, 2022, the Company filed an amendment to the Certificate of Incorporation to change the name to Yale Transaction Finders, Inc. Yale Transaction Finders, Inc.’s business plan was to create an online database for public buyers and yacht brokers to interface immediately with each other while capturing the benefits of targeting a larger market. On November 6, 2007, the Company discontinued its prior business and changed its business plan. The Company’s business plan now consists of exploring potential targets for a business combination through the purchase of assets, share purchase or exchange, merger or similar type of transaction. The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements. In the opinion of management, all adjustments, consisting of normal recurring accruals considered necessary for a fair presentation, have been included. Operating results for the nine months ended September 30, 2024 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024. For further information, refer to the financial statements and footnotes thereto included in the Form 10-K for the year ended December 31, 2023.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	(2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES USE OF ESTIMATES The preparation of financial statements in accordance with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. LOSS PER COMMON SHARE The Company reports loss per share using a dual presentation of basic and diluted loss per share. Basic loss per share excludes the impact of common stock equivalents and is determined by dividing income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted loss per share reflects the potential dilution that could occur if securities and other contracts to issue common stock were exercised or converted into common stock. For the nine months ended September 30, 2024, there were no variances between the basic and diluted loss per share as there were no potentially dilutive securities outstanding. GOING CONCERN The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company generated a net loss of $ 28,481 113,086 1343,349 38,310 84,605 1,314,868 (2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CON T) NEW ACCOUNTING PRONOUNCEMENTS From time-to-time new accounting pronouncements are issued by the Financial Accounting Standards Board or other standard setting bodies that may have an impact on the Company’s accounting and reporting. The Company believes that such recently issued accounting pronouncements and other authoritative guidance for which the effective date is in the future will not have an impact on its accounting or reporting or that such impact will not be material to its financial position, results of operations and cash flows when implemented.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	(3) RELATED PARTY TRANSACTIONS The Company previously had loans and notes outstanding from a shareholder in the aggregate amount of $ 780,631 6 December 31, 2021 Pursuant to a Services Agreement with Fountainhead Capital Management Limited (“FHM”), a former shareholder, the Company was obligated to pay FHM a quarterly fee in the amount of $ 10,000 0 In May 2022, the Company issued promissory notes to four lenders, including two affiliated with the Company’s officers, in an aggregate amount of $ 50,000 June 30, 2023 5.0 In May 2023, the Company issued promissory notes to four lenders, including two affiliated with the Company’s officers, in an aggregate amount of $ 15,000 June 30, 2025 5.0 In November 2023, the Company issued promissory notes to three lenders, including two affiliated with the Company’s officers, in an aggregate amount of $ 8,000 June 30, 2025 5.0 On April 25, 2024, the Company issued convertible promissory notes (the “April 2024 Notes”) in the principal amount of $ 30,500 December 31, 2024 5.0 April 2024 Notes are convertible, at the election of the holders, into shares of the Company’s common stock following the consummation of a “Qualified Financing” (as defined in the April 2024 Notes), or upon the consummation of a “Fundamental Transaction” (as defined in the April 2024 Notes) at the “Conversion Price” (as defined in the April 2024 Notes)

CHANGE IN CONTROL

CHANGE IN CONTROL	9 Months Ended
	Sep. 30, 2024
Change In Control
CHANGE IN CONTROL	(4) CHANGE IN CONTROL On March 22, 2022, the Company entered into and consummated a Securities Purchase Agreement (the “Purchase Agreement”) with Fountainhead Capital Management Limited, a Jersey company (the “Seller”), Ironbound Partners Fund, LLC, a Delaware limited liability company, Moyo Partners, LLC, a New York limited liability company, Dakota Group, Ltd., a New York limited liability company, and Rise Capital Corp., a New York corporation (each a “Purchaser” and together, the “Purchasers”). Pursuant to the Purchase Agreement, the Seller sold to Purchasers an aggregate of 5,120,000 98.5 352,641 Additionally, pursuant to the Purchase Agreement: ● The Seller contributed a promissory note issued by the Company in favor of Seller in the amount of $ 832,305 348,158 ● Thomas W. Colligan, the sole director of the Company, authorized an increase in the number of directors on the Board from one to two and appointed Jonathan J. Ledecky as a director to fill the vacancy on the Board created by this increase; ● Mr. Colligan resigned as Chief Executive Officer, Chief Financial Officer, President and Treasurer, effectively immediately, and resigned from the Company’s board, effective on the day following the tenth day after the mailing of the Information Statement (defined below); and ● The Board appointed Mr. Ledecky as Chief Executive Officer and Chief Financial Officer of the Company and Arnold P. Kling as President, Treasurer and Secretary of the Company.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	(5) SUBSEQUENT EVENTS On November 5, 2024, Yale Transaction Finders, Inc., a Delaware corporation (the “Company”), issued convertible promissory notes (the “November 2024 Notes”) in the aggregate principal amount of $ 15,000 December 31, 2025 5.0

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
USE OF ESTIMATES	USE OF ESTIMATES The preparation of financial statements in accordance with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
LOSS PER COMMON SHARE	LOSS PER COMMON SHARE The Company reports loss per share using a dual presentation of basic and diluted loss per share. Basic loss per share excludes the impact of common stock equivalents and is determined by dividing income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted loss per share reflects the potential dilution that could occur if securities and other contracts to issue common stock were exercised or converted into common stock. For the nine months ended September 30, 2024, there were no variances between the basic and diluted loss per share as there were no potentially dilutive securities outstanding.
GOING CONCERN	GOING CONCERN The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company generated a net loss of $ 28,481 113,086 1343,349 38,310 84,605 1,314,868 (2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CON T)
NEW ACCOUNTING PRONOUNCEMENTS	NEW ACCOUNTING PRONOUNCEMENTS From time-to-time new accounting pronouncements are issued by the Financial Accounting Standards Board or other standard setting bodies that may have an impact on the Company’s accounting and reporting. The Company believes that such recently issued accounting pronouncements and other authoritative guidance for which the effective date is in the future will not have an impact on its accounting or reporting or that such impact will not be material to its financial position, results of operations and cash flows when implemented.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended						9 Months Ended		12 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Accounting Policies [Abstract]
Net loss	$ (5,656)	$ (14,063)	$ (8,762)	$ (6,030)	$ (8,584)	$ (10,063)	$ (28,481)	$ (24,678)	$ (38,310)
Working capital deficit	113,086						113,086		84,605
Accumulated deficit	$ (1,343,349)						$ (1,343,349)		$ (1,314,868)

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)			1 Months Ended			3 Months Ended	9 Months Ended
	Apr. 25, 2024	Dec. 31, 2020	Nov. 30, 2023	May 31, 2023	May 31, 2022	Sep. 30, 2024	Sep. 30, 2024
Promissory notes						$ 780,631	$ 780,631
Debt instrument, interest rate						6%	6%
Debt instrument maturity date		Dec. 31, 2021
Fees paid							$ 10,000
Debt instrument accrued fees						$ 0
April 2024 Notes [Member]
Debt instrument maturity date	Dec. 31, 2024
Convertible promissory note principal amount	$ 30,500
Convertible promissory note interest percentage	5%
Convertible promissory note, terms of conversion feature	April 2024 Notes are convertible, at the election of the holders, into shares of the Company’s common stock following the consummation of a “Qualified Financing” (as defined in the April 2024 Notes), or upon the consummation of a “Fundamental Transaction” (as defined in the April 2024 Notes) at the “Conversion Price” (as defined in the April 2024 Notes)
Four Lenders [Member]
Promissory notes			$ 8,000	$ 15,000	$ 50,000
Debt instrument, interest rate			5%	5%	5%
Debt instrument maturity date			Jun. 30, 2025	Jun. 30, 2025	Jun. 30, 2023

CHANGE IN CONTROL (Details Narr

CHANGE IN CONTROL (Details Narrative) - Purchase Agreement [Member] - USD ($)	Mar. 22, 2022	Mar. 17, 2022
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Number of shares sold	5,120,000
Ownership percentage	98.50%
Aggregate purchase price	$ 352,641
Promissory Note [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Notes fair value		$ 832,305
Accrued interest		$ 348,158

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	Nov. 05, 2024	Dec. 31, 2020	Sep. 30, 2024
Subsequent Event [Line Items]
Maturity date		Dec. 31, 2021
Interest rate			6%
November 2024 Notes [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Principal amount	$ 15,000
Maturity date	Dec. 31, 2025
Interest rate	5%