The following information should be read in conjunction with (i) the consolidated financial statements ofAlpha Network Alliance Ventures Inc. , aDelaware corporation and development stage company, and the notes thereto appearing elsewhere in this Form 10-Q together with (ii) the more detailed business information and theDecember 31, 2019 audited financial statements and related notes included in the Company's most recent Annual Report on Form 10-K (File No. 000-54126), as filed with theSEC onJune 25, 2021 . Statements in this section and elsewhere in this Form 10-Q that are not statements of historical or current fact constitute "forward-looking" statements. OVERVIEWAlpha Network Alliance Ventures Inc. is a development stage company. We were incorporated under the laws of theState of Delaware onAugust 12, 2010 , and are engaged in the development of a social networking website, www.kababayanko.com, for overseas workers fromthe Philippines and others who share or are interested in their lifestyle. Our fiscal year end isDecember 31 , and we have no subsidiaries. Our social networking website aims to provide overseas workers fromthe Philippines with a platform to share their overseas working and living experiences, and interact with a community of Filipino overseas workers from around the world.
Our business offices are currently located at11801 Pierce St. , 2nd Floor,Riverside, California 92505. We have a website located at www.kababayanko.com; however, the information contained on our website does not form a part of this Form 10-Q. Going Concern To date the Company has little operations and little revenues and consequently has incurred recurring losses from operations. No revenues are anticipated until we complete the financing described in our Registration Statement on Form S-1, as amended (File No. 333-182596), declared effective by theSEC onMarch 18, 2014 , and implement our initial business plan. The ability of the Company to continue as a going concern is dependent on raising capital to fund our business plan and ultimately to attain profitable operations. Accordingly, these factors raise substantial doubt as to the Company's ability to continue as a going concern. Our activities have been financed primarily from cash loans in the principal amount of$1,125,498 from our sole director and officer. Of this amount,$825,498 is designated as advances from stockholders, while$300,000 is designated as deposit for future share subscriptions. No subscribed shares are outstanding that cannot be legally issued until paid for. These advances are unsecured and there are no terms for repayment. CRITICAL ACCOUNTING POLICIES The discussion and analysis of our financial condition and results of operations are based on our consolidated financial statements, which have been prepared in accordance with accounting principles generally accepted inthe United States ("US GAAP"). The preparation of these consolidated financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an ongoing basis, we evaluate our estimates based on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. We have identified the policies below as critical to our business operations and to the understanding of our financial results: 4 Table of Contents
The Company is considered to be in the development stage as defined in Statement of Financial Accounting Standards (SFAS) No. 7, "Accounting and Reporting byDevelopment Stage Enterprises ". The Company has devoted substantially all of its efforts to business planning, and development. Additionally, the Company has allocated a substantial portion of their time and investment in bringing their product to the market, and the raising of capital. Use of Estimates The Company prepares financial statements in conformity with generally accepted accounting principles that require management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Although these estimates are based on management's knowledge of current events and actions it may undertake in the future, they may ultimately differ from actual results. Cash and Cash Equivalents
The Company considers all highly liquid instruments purchased with maturities of one year or less to be cash equivalents.
Property and Equipment Property and equipment are stated at cost. Major repairs and betterments are capitalized and normal maintenance and repairs are charged to expense as incurred. Depreciation is computed by the straight-line method over the estimated useful lives of the related assets. Upon retirement or sale of an asset, the cost and accumulated depreciation are removed from the accounts and any gain or loss is reflected in operations.
Fair Value of Financial Instruments
The fair value of cash and cash equivalents and accounts receivable and accounts payable approximates their carrying amount.
PLAN OF OPERATION Our plan of operations over the 12 month period following successful completion of our offering (the "Offering") registered the Form S-1, as amended, and as declared effective by theSEC onMarch 18, 2014 , is as follows, assuming the sale of 25%, 50%, 75% and 100%, respectively, of the securities offered for sale by the Company in the Form S-1: If 25% of If 50% of If 75% of If 100% of Shares Sold Shares Sold Shares Sold Shares Sold Gross proceeds from this offering($)937,500 ( $)1,875,000
Product Development OCW (Overseas Contract Workers) Social Networking Site 75,000 150,000 225,000 300,000 Global Karaoke Social Networking Sites 75,000 150,000 225,000 300,000 EBID services 50,000 100,000 150,000 200,000 PC/MAC and Mobile VOIP Provider (All Mobiles Systems) 100,000 200,000 300,000 400,000 Global Social Market Place Platform 25,000 50,000 75,000 100,000 Healthy Aging Social Channel 75,000 150,000 225,000 300,000 Web/graphic design 60,000 120,000 180,000 240,000 Equipment/servers 35,000 70,000 105,000 140,000 VoIP connectivity fees 25,000 50,000 75,000 100,000 Sales/marketing Assistant 75,000 150,000 225,000 300,000Marketing & Company collateral 125,000 250,000 375,000 500,000 Media Advertising 50,000 100,000 150,000 200,000 Office Lease 20,000 40,000 60,000 80,000 Office Equipment 15,000 30,000 45,000 60,000 Offices Expenses 42,500 85,000 127,500 170,000 Telephone 7,500 15,000 22,500 30,000 Miscellaneous/contingency 37,500 75,000 112,500 150,000 Legal and Accounting 37,500 75,000 112,500 150,000 Transfer Agent 1,500 2,000 2,500 3,000 Contingency 6,000 13,000 20,000 27,000 TOTALS$ 937,500 $ 1,875,000 $ 2,812,500 $ 3,750,000 5 Table of Contents We currently do not have any arrangements regarding the Offering or following this Offering for further financing and we may not be able to obtain financing when required. Our future is dependent upon our ability to obtain further financing, the successful development of our planned business consulting services, a successful marketing and promotion program, and achieving a profitable level of operations. The issuance of additional equity securities by us could result in a significant dilution in the equity interests of our current stockholders. Obtaining commercial loans, assuming those loans would be available, will increase our liabilities and future cash commitments. There are no assurances that we will be able to obtain further funds required for our continued operations. Even if additional financing is available, it may not be available on terms we find favorable. At this time, there are no anticipated sources of additional funds in place. Failure to secure the needed additional financing will have an adverse effect on our ability to remain in business.
Results of Operations
Three Months Ended
We recorded$33,038 and$39,147 for the three endingMarch 31, 2020 and 2019, respectively. Future revenue generation is dependent on the successful execution of our plan of operation and the financing described in our Form S-1, as amended. For the three months endedMarch 31, 2020 we incurred total operating expenses and losses of$181,953 , consisting entirely of general and administrative expenses. Such general and administrative expenses were comprised of$0 of marketing expenses, wages of$151,956 , Rent of$0 , travel expenses of$9,759 , professional fees of$4,750 , offices supplies of$32 , computer and Internet expenses of$5,399 , and other general and administrative expenses of$10,057 . By contrast, For the three months endedMarch 31, 2019 we incurred total operating expenses and losses of$181,962 , consisting entirely of general and administrative expenses. Such general and administrative expenses were comprised of$0 of marketing expenses, wages of$150,000 , Rent of$309 , travel expenses of$17,387 , professional fees of$500 , offices supplies of$0 , computer and Internet expenses of$7,517 , and other general and administrative expenses
of$6,249 . 6 Table of Contents
Liquidity and Capital Resources
AtMarch 31, 2020 , we had a cash balance of$4,806 . We do not have sufficient cash on hand to commence our 12-month plan of operation or to fund our ongoing operational expenses. We will need to raise funds to commence our 12-month plan of operation and fund our ongoing operational expenses. Additional funding will likely come from equity financing from the sale of our common stock. If we are successful in completing an equity financing, existing shareholders will experience dilution of their interest in our Company. We do not have any financing arranged and we cannot provide investors with any assurance that we will be able to raise sufficient funding from the sale of our common stock to fund our 12-month plan of operation and ongoing operational expenses. In the absence of such financing, our business will likely fail. There are no assurances that we will be able to achieve further sales of our common stock or any other form of additional financing. If we are unable to achieve the financing necessary to continue our plan of operations, then we will not be able to continue our 12-month plan of operation and our business will fail. Subsequent Events
None through date of this filing.
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