This section of this report 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, which apply only as of the date of this report. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or our predictions.
Summary Information
On
On
On
However, subsequent to the date of this Report, on
The Agreement contained a post-closing condition such that the Company's majority shareholder cancelled 50,000,000 shares of the Company's restricted common stock then currently beneficially owned, such stock was cancelled and returned to the Company's treasury.
The foregoing summary is a description of the terms of the Original Agreement
and the Termination Agreement which may not contain all information that is of
interest to the reader. For further information regarding specific terms and
conditions of the Original Agreement and the Termination Agreement which were
filed with the
We are currently seeking acquisition partners we believe would be beneficial for
the Company and our shareholders. To this end, we intent to begin the process of
identifying sectors and industries that current management believes will provide
the most long-term and short-term benefit to the existing and future
shareholders of the Company. However, as of the date of this Report we have not
identified any potential acquisition candidates or entered into any negotiations
relating to the same. Additionally, we intend to continue to take such corporate
actions necessary to fulfil our reporting obligations with the
On
The resolutions of our Board of Directors approving the above described reverse
stock split and name change are subject to the prior approval by the
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Results of Operations
Results of Operations for the three months Ended
The following summary of our results of operations should be read in conjunction
with our audited financial statements for the three-month ended
Our operating results for the three months endedJuly 30, 2019 and 2018 are summarized as follows: July 31, 2019 2018 General and administrative$ 70 $ - Professional fees$ 4,261 $ - Interest expense$ 756 $ - Net Loss$ (5,087) $ - Operating Revenues
During the three months ended
Operating Expenses and Net Loss
Operating expenses for the three months ended
Other Income and Net Loss
Other income consists of interest expense for the three months ended
Liquidity and Capital Resources
Working Capital At At July 31, April 30, 2019 2019 Current Assets $ - $ - Current Liabilities$ 212,167 $ 205,239 Working Capital (deficit)$ (210,326) (205,239)
As of
As of
-------------------------------------------------------------------------------- 13 -------------------------------------------------------------------------------- Cash Flows Three months Three months Ended Ended July 31, July 31, 2019 2018 Cash used in Operating Activities $ - $ - Cash used in Investing Activities $ - $ - Cash provided by Financing Activities $ - $ - Net Decrease in Cash $ - $ -
Cashflow from Operating Activities
During the three months ended
Cashflow from Financing Activities
During the three months ended
Going Concern
These financial statements have been prepared on a going concern basis, which
implies that the Company will continue to realize its assets and discharge its
liabilities in the normal course of business. The Company has a working capital
deficit of
Management is currently looking at various options and investment opportunities. Additional financing may not be available upon acceptable terms, or at all. If adequate funds are not available on acceptable terms, the Company may not be able to take advantage of prospective business endeavours or opportunities which could significantly and materially restrict the Company's operations. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.
Off-balance sheet arrangements
The Company has no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect or change on the Company's financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors. The term "off-balance sheet arrangement" generally means any transaction, agreement or other contractual arrangement to which an entity unconsolidated with the Company is a party, under which the Company has (i) any obligation arising under a guarantee contract, derivative instrument or variable interest; or (ii) a retained or contingent interest in assets transferred to such entity or similar arrangement that serves as credit, liquidity or market risk support for such assets.
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