NFT Marketplace Inc (NFTM)

[sam1933]

Quarterly Report UPDATED 03/28/2024

Shell Status
Indicate by check mark whether the company is a shell company (as defined in Rule 405 of the Securities Act of 1933, Rule 12b-2 of the Exchange Act of 1934 and Rule 15c2-11 of the Exchange Act of 1934):
Yes: ? No: [X]

https://www.otcmarkets.com/stock/BABL/disclosure

On 12/4/2023, the Company applied for a corporate action with FINRA to change the name of the Company to “The NFT Marketplace, Inc.” as well as a reverse split on the company’s issued and outstanding common stock on a one (1) share for each one hundred (100) share basis.

Other classes of authorized or outstanding equity securities that do not have a trading symbol:

Each shareholder of Special 2021 Series A Preferred Stock is entitled to 60% of all votes including but not limited to common stock and preferred stock and the shares are convertible at one (1) into ten million (10,000,000) common Stock. No dividend or liquidation rights. There are no redemption rights.
The Special 2021 Series B Preferred shall not have any voting rights. Each one (1) Special 2021 Series B Preferred share is convertible into 2% of outstanding common shares at the date of conversion. Shall not be entitled to dividends or liquidation rights. There are no redemption rights.

On or about June 4, 2021, Synergy Management Group, LLC transferred and sold twenty-six (26) shares of the Issuer’s Special 2021 Series A Preferred Stock (convertible at one (1) into ten million (10,000,000) common shares) to Ben W. Quick.

B. Promissory and Convertible Notes

On May 15, 2021, the Issuer caused a non-interest-bearing promissory note in the principal amount of $100,000 to be issued to Synergy Management Group, LLC as consideration for services rendered to the Issuer. The note was subsequently sold to Peter Smith on June 4, 2021. The Note matures upon the closing of the custodianship proceedings, cause number 2020-022548-CA-01. The note is convertible at the lesser of (a) the average price at which the Issuer sells its common stock during the sixty (60) days prior to the conversion or (b) the par value of the Issuer’s common stock.

4) Issuer’s Business, Products and Services
The purpose of this section is to provide a clear description of the issuer’s current operations. Ensure that these descriptions are updated on the Company’s Profile on www.OTCMarkets.com.
A. Summarize the issuer’s business operations (If the issuer does not have current operations, state “no operations”)
On March 8, 2023, the Company, through its subsidiary, The NFT Marketplace Ltd., executed a marketing agreement with Moonclub whereby Moonclub will provide full marketing services for the Company, including social media management, project collaborations and community management. Moonclub will also launch an NFT collection for the Company which includes designing the artwork, developing the smart contract and developing the minting website. In addition, the Company signed a commercial proposal with Advanced Living Technologies GmbH (“SONIO”), Whereby SONIO will work on a Software As A Service (SaaS) sales model and provide the Company with a complete seamless and paperless onboarding and approval process. These agreements are part of the Company’s overall strategy to create a one-stop-shot for the buying and selling of non-fungible tokens (NFTs) and to build an all-inclusive NFT platform for buyers and sellers.

B. List any subsidiaries, parent company, or affiliated companies.
The NFT Marketplace Ltd.

C. Describe the issuers’ principal products or services.
On March 8, 2023, the Company, through its subsidiary, The NFT Marketplace Ltd., executed a marketing agreement with Moonclub whereby Moonclub will provide full marketing services for the Company, including social media management, project collaborations and community management. Moonclub will also launch an NFT collection for the Company which includes designing the artwork, developing the smart contract and developing the minting website. In addition, the Company signed a commercial proposal with Advanced Living Technologies GmbH (“SONIO”), Whereby SONIO will work on a Software As A Service (SaaS) sales model and provide the Company with a complete seamless and paperless onboarding and approval process. These agreements are part of the Company’s overall strategy to create a one-stop-shot for the buying and selling of non-fungible tokens (NFTs) and to build an all-inclusive NFT platform for buyers and sellers.

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