The information contained in this quarter report on Form 10-Q is intended to
update the information contained in our Annual Report on Form 10-K for the year
ended March 31,2019 and presumes that readers have access to, and will have
read, the "Management's Discussion and Analysis of Financial Condition and
Results of Operations" and other information contained in such Form 10-K. The
following discussion and analysis also should be read together with our
consolidated financial statements and the notes to the consolidated 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 of Financial Condition and Results of Operations." 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 quarterly 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
Amendment No.8, dated July 20, 2016 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
transition report on Form 10-Q. The following should also be read in conjunction
with the unaudited Condensed Consolidated Financial Statements and notes thereto
that appear elsewhere in this report.
Company Overview
ECCO Auto World Corporation, a Nevada corporation ("the Company") was
incorporated under the laws of the State of Nevada on June 6, 2016.
ECCO Auto World Corporation, which is incorporated in Labuan, Malaysia on March
1, 2017, is a wholly owned subsidiary of ECCO Auto World Corporation.
ECCO Auto World Corporation has engaged a third party for the development of
ECCO App, which is a platform that connects users with auto repair shops and
service centers throughout Malaysia and will be made up of a selection of auto
repair shops who join our 'ECCO Partnership' and car owners who use the ECCO
App. Auto repair shops that make use of ECCO user base will be subject to
stringent supervision and entrant requirements in order to ensure quality
service to users. The company has spent approximately $300,000 for the research
and development of the mobile application.
During the year 2019, ECCO Auto World Corporation has expand their business
toward consultancy in providing Finance IT solution to clients. In addition,
Ecco Auto World Corporation was developing Cash & Treasury Management system
that strives to provide clients' businesses with a single view of cash across
their entire operation. It equips clients with innovative but practical tools
aimed at removing inefficiencies, and enhance the client's skill in strategic
planning, carry out effective cash decisions based on clear, actionable
information.
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Results of Operation
For Three Months Ended December 31, 2019 and 2018.
Revenue
For three months ended December 31, 2019, the Company has generated a revenue of
$5,200 and no revenue for the year ended March 31, 2018. During the year, the
revenue generated was the result from providing consultancy service in Finance
IT solution to client.
Cost of Revenue
No cost of revenue was incurred for three months ended December 31, 2019 and
2018. During the year, no cost of revenue involves as the revenue generated is
from consultancy services providing by director.
The Company has incurred a net loss of $3,905 and $10,177 for the three months
ended December 31, 2019 and 2018 respectively. The net loss is mainly due to
general and administrative expenses incurred during the period
For Nine Months Ended December 31, 2019 and 2018.
Revenue
For nine months ended December 31, 2019, the Company has generated a revenue of
$5,200 and no revenue for the year ended March 31, 2018. During the year, the
revenue generated was the result from providing consultancy service in Finance
IT solution to client.
Cost of Revenue
No cost of revenue was incurred for nine months ended December 31, 2019 and
2018. During the year, no cost of revenue involves as the revenue generated is
from consultancy services providing by director.
The Company has incurred a net loss of $32,197 and $156,030 for the nine months
ended December 31, 2019 and 2018 respectively. The decrease in net loss is
mainly due to the decrease in general and administrative expenses.
Liquidity and Capital Resources
As at December 31, 2019 and March 31, 2019, the Company has a cash and cash
equivalents of $21,196 and $52,390 respectively. Decrease in cash flow of
$31,194 due to loss and payment of other payables and accrued liabilities.
Operating Activities
For the nine months ended December 31, 2019 and 2018, net cash used in operating
activities was $31,181 and $179,194 respectively, decrease in cash used in
operating activities due to reduce in the business operation expenses.
Investing Activities
For the nine months ended December 31, 2019, no cash was generated nor consumed
for investment activities while the nine months period ended December 31, 2018,
no cash was generated nor consumed for investment activities.
Financing Activities
For the nine months ended December 31, 2019, no cash was generated nor consumed
for financing activities.
For the nine months ended December 31, 2018, $160,000 was generated via issuance
of share capital.
Capital Expenditures
There were no capital expenditures for nine months period ended December 31,
2019. For nine months period ended December 31, 2018, there was no capital
expenditures for nine months period.
Off-balance Sheet Arrangements
We have no significant off-balance sheet arrangements that have or are
reasonably likely to have a current or future effect on our financial condition,
changes in our financial condition, revenues or expenses, results of operations,
liquidity, capital expenditures or capital resources that are material to our
stockholders as of December 31, 2019.
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ECCO AUTO WORLD CORP 
