The information contained in this quarter report on Form 10-Q is intended to
update the information contained in our Form 10-K dated October 11, 2022, for
the year ended July 31, 2022 and presumes that readers have access to, and will
have read, the "Management's Discussion and Analysis" and other information
contained in such Form 10-K. The following discussion and analysis also should
be read together with our financial statements and the notes to the financial
statements included elsewhere in this Form 10-Q.
The following discussion contains certain statements that may be deemed
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. Such statements appear in a number of places in
this Report, including, without limitation, "Management's Discussion and
Analysis" These statements are not guarantees of future performance and involve
risks, uncertainties and requirements that are difficult to predict or are
beyond our control. Forward-looking statements speak only as of the date of this
quarter report. You should not put undue reliance on any forward-looking
statements. We strongly encourage investors to carefully read the factors
described in our Form S-1 registration statement, filed on August 27, 2021, in
the section entitled "Risk Factors" for a description of certain risks that
could, among other things, cause actual results to differ from these
forward-looking statements. We assume no responsibility to update the
forward-looking statements contained in this quarter report on Form 10-Q. The
following should also be read in conjunction with the unaudited Condensed
Financial Statements and notes thereto that appear elsewhere in this report.
Company Overview (TBC)
We, Birdie Win Corporation, a Nevada corporation ("the Company") was
incorporated under the laws of the State of Nevada on April 16, 2021.
The Company's executive office is located at D109, Level 1, Block D, Kelana
Square, Jalan SS 7/26, 47301 Petaling Jaya, Selangor, Malaysia. We offer
one-on-one Personal Financial Literacy Seminar services, with a focus on
providing such services to customers in Malaysia and Hong Kong individuals or
families.
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Results of operations
Three months ended January 31, 2023 and 2022
Revenues
For the three months ended January 31, 2023, the Company generated revenue in
the amount of $5,000. The revenue was generated as a result of the Company
having provided a Personal Financial Literacy Seminar (PFL Seminar) to
participant.
For the three months ended January 31, 2022, the Company generated revenue in
the amount of $10,000. The revenue was generated as a result of the Company
having provided a Personal Financial Literacy Seminar (PFL Seminar) to various
participant(s).
General and Administrative Expenses
For the three months ended January 31, 2023, the Company had general and
administrative expenses in the amount of $6,752. These were primarily comprised
of audit fees, stock and registrar fees, and other professional fees.
For the three months ended January 31, 2022, the Company had general and
administrative expenses in the amount of $8,071. These were primarily comprised
of legal and professional fees, audit fees, and exchange loss.
The significant decrease of the general and administrative expenses was the
result of the significant decrease in legal and professional fees.
Net Profit/Loss
For the three months ended January 31, 2023, the Company has incurred a net loss
of $1,177.
For the three months ended January 31, 2022, the Company has earned a net profit
of $1,920.
Six months ended January 31, 2023 and 2022
Revenues
For the six months ended January 31, 2023, the Company generated revenue in the
amount of $10,000. The revenue was generated as a result of the Company having
provided a Personal Financial Literacy Seminar (PFL Seminar) to various
participant(s).
For the six months ended January 31, 2022, the Company generated revenue in the
amount of $30,000. The revenue was generated as a result of the Company having
provided a Personal Financial Literacy Seminar (PFL Seminar) to various
participant(s).
General and Administrative Expenses
For the six months ended January 31, 2023, the Company had general and
administrative expenses in the amount of $13,226. These were primarily comprised
of audit fees, stock and registrar fees, and other professional fees.
For the six months ended January 31, 2022, the Company had general and
administrative expenses in the amount of $44,749. These were primarily comprised
of legal and professional fees, audit fees, and transfer agent fees.
The significant decrease of the general and administrative expenses was the
result of the significant decrease in legal and professional fees.
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Net Profit/Loss
For the six months ended January 31, 2023, the Company has incurred a net loss
of $2,223.
For the six months ended January 31, 2022, the Company has incurred a net loss
of $14,255.
Liquidity and Capital Resources
Cash Used in Operating Activities
For the six months ended January 31, 2023, the Company has used $94 in operating
activities, which was primarily attributable to net loss from operation,
increase in accounts receivable and increase in prepayment.
For the six months ended January 31, 2022, the Company has used $23,207 in
operating activities, which was primarily caused by decrease in prepayment,
decrease in accrued liability, increase in loan from director and decrease in
customer deposit.
Cash Used in Investing Activities
For the six months ended January 31, 2023 and 2022, the Company has used $0 and
$1,304 respectively, in investing activities primarily attributable to the
purchase of equipment.
Cash Provided by Financing Activity
For the six months ended January 31, 2023 and 2022, the Company received $0 and
$36,000 respectively, from financing cash flow consists of issuance of shares of
common stock pursuant to our public offering.
Off-Balance Sheet Arrangements
The Company has no off-balance sheet arrangements.
Critical Accounting Policies
Recent accounting pronouncements
In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on
Financial Instruments (Topic 326). ASU 2016-13 requires entities to use a
forward-looking approach based on current expected credit losses ("CECL") to
estimate credit losses on certain types of financial instruments, including
trade receivables. This may result in the earlier recognition of allowances for
losses. ASU 2016-13 is effective for the Company beginning January 1, 2023, and
early adoption is permitted.
The Company reviews new accounting standards as issued. Management has not
identified any other new standards that it believes will have a significant
impact on the Company's financial statements.
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