The following discussion should be read in conjunction with our consolidated
audited financial statements and the related notes that appear elsewhere in this
annual report. The following discussion contains forward-looking statements that
reflect our plans, estimates and beliefs. Our actual results could differ
materially from those discussed in the forward looking statements. Factors that
could cause or contribute to such differences include, but are not limited to
those discussed below and elsewhere in this annual report. Our consolidated
audited financial statements are stated in
7 Table of Contents Results of Operations
The following summary of our results of operations should be read in conjunction
with our financial statements for the year ended
Year Ended March 31, Change Change 2022 2021 Amount Percentage Operating expenses$ 61,099 $ 28,720 32,379 113 %
Loss from operations (61,099 ) (28,720 ) (32,379 ) 113 %
Net loss$ (61,099 ) $ (28,720 ) $ (32,379 ) 113 %
During the year ended
Operating expenses for the year ended
Liquidity and Financial Condition
Working Capital (Deficiency) March 31, 2022 March 31, 2021 Current Assets $ - $ 3,929 Current Liabilities 22,003 100,211 Working Capital (Deficiency)$ (22,003 ) $ (96,282 )
The working capital deficiency decreased to
Our total current assets as of
Our total current liabilities as of
The report of our auditors on our audited financial statements for the fiscal
year ended
Cash Flows Year EndedMarch 31, 2022 2021
Cash used in Operating Activities
Operating Activities
For the year ended
Investing Activities
We did not use any funds for investing activities for the year ended
8 Table of Contents Cash Requirements
We will require additional funds for our budgeted expenses over the next 12 months. These funds may be raised through equity financing, debt financing, or other sources, which may result in further dilution in the equity ownership of our shares. There is still no assurance that we will be able to maintain operations at a level sufficient for an investor to obtain a return on his investment in our common stock. Further, we may continue to be unprofitable. We need to raise additional funds in the immediate future in order to proceed with our budgeted expenses.
Specifically, based on nominal operations we estimate our operating expenses and working capital requirements for the next 12 months to be as follows:
We will require additional financing in order to enable us to proceed with our
plan of operations, as discussed above, including approximately
We anticipate continuing to rely on equity sales of our common stock in order to continue to fund our business operations. Issuances of additional shares will result in dilution to our existing stockholders. There is no assurance that we will achieve any additional sales of our equity securities or arrange for debt or other financing to fund our planned business activities.
We presently do not have any arrangements for additional financing for the expansion of our operations, and no potential lines of credit or sources of financing are currently available for the purpose of proceeding with our plan of operations.
Contractual Obligations
As a "smaller reporting company", we are not required to provide tabular disclosure obligations.
Going Concern
Our auditors have issued a going concern opinion. This means that there is substantial doubt that we can continue as an on-going business for the next twelve months. Our ability to continue as a going concern is dependent upon our ability to generate future profitable operations and/or obtain the necessary financing to meet our obligations and repay our liabilities arising from normal business operations when they become due. We intend to finance operating costs over the next twelve months through continued financial support from our shareholders and private placements of common stock. 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 that is material to stockholders.
Critical Accounting Policies
The preparation of financial statements in accounting principles generally
accepted in
Recently Issued Accounting Pronouncements
The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. The Company regularly reviews and analyses the recent accounting pronouncements.
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