This section of this Form 10-Q includes a number of forward-looking statements that reflect our current views with respect to future events and financial performance. Forward-looking statements are often identified by words like believe, expect, estimate, anticipate, intend, project and similar expressions, or words which, by their nature, refer to future events. You should not place undue certainty on these forward-looking statements. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our predictions.
Our cash balance was
Our independent registered public accountant has issued a going concern opinion
for
To meet our need for cash we are attempting to raise money from this offering. We believe that we will be able to raise enough money through this offering to expand our proposed operations, however there is no guarantee that we will stay in business after doing so. At the present time, we have not made any arrangements to raise additional cash, other than through this offering.
We are an "emerging growth company" as defined in the JOBS Act, and we may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not "emerging growth companies" including, but not limited to: not required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act; reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements; exemptions from the requirements of holding an annual non-binding advisory vote on executive compensation and nonbinding stockholder approval of any golden parachute payments not previously approved. In addition, Section 107 of the JOBS Act also provides that an "emerging growth company" can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. In other words, an "emerging growth company" can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies.
We have elected under this section of the JOBS Act to maintain our status as an emerging growth company and take advantage of the JOBS Act provisions relating to complying with new or revised accounting standards under Section 102(b)(1) of the JOBS Act.
Results of Operations
In the quarter ended
In the six-month period ended
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We currently anticipate that our legal and accounting fees will increase over
the next 12 months as a result of becoming a reporting company with the
Since inception, we sold 5,000,000 shares of common stock to our President and
Director for
Additionally, during
Activities to Date
A substantial portion of our activities to date has involved developing a business plan. Our President has also developed Plan of Operations. We have established the company office and provided information session and consulting about our services to one prospective customer.
We expect to extend our operations in the future.
We have invested in specialized software and computers to be used in development of animated logos and pictures
Plan of Operations
We anticipate that our legal and accounting fees will increase to
We have completed few small projects as a proof of concept to verify that our products can generate customer interest.
Off Balance Sheet Arrangements
We have no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources.
Liquidity and Capital Resources
As of
Our negative operating cash flow per month is:
We are attempting to raise funds to proceed with our plan of operation. Our
current cash on hand will be used to pay the fees and expenses of this offering.
We will have to utilize funds from our President and Director. However, he has
no formal commitment, arrangement or legal obligation to loan funds to the
company. To proceed with our operations for 12 months, we need a minimum of
4 Table of Contents Going Concern Consideration
Our auditors have issued a "going concern" opinion for
If we sell at least 25% of the shares in the offering we believe that we will
have the resources to operate for the next 12 months, including for the costs
associated with becoming a publicly reporting company. The company anticipates
to incur approximately
Limited operating history and need for additional capital
We have no historical financial information upon which to base an evaluation of our performance. We are in start-up stages of operation and had limited revenue generated as of the date of this Prospectus. We cannot guarantee we will be successful in our business operations. Our business is subject to risks inherent in the establishment of a new business enterprise, including limited capital resources and possible cost overruns due to price and cost increases in services and products.
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