Plan of Operation
Our plan of operations is to raise debt and/or equity to meet our ongoing operating expenses and attempt to acquire, merge or seek a business combination for growth to create value for our shareholders. In this regard, our general plan is to seek business acquisitions, combinations or opportunities. We do not restrict our search to any specific business, industry or geographical location, and we may participate in business ventures of virtually any nature. This discussion of our proposed business is purposefully general and is not meant to be restrictive of our virtually unlimited discretion to search for and enter into potential business opportunities. We may seek a business acquisition, merger or combination with entities which have recently commenced operations, or that desire to develop a new product or service, or for other corporate purposes. We may acquire assets and establish wholly owned subsidiaries in various businesses or acquire existing businesses as subsidiaries. We expect that the selection of a business acquisition, merger or combination will be complex and risky. Potentially, available business opportunities may occur in many different industries and at various stages of development, all of which will make the task of comparative investigation and analysis of such business opportunities extremely difficult and complex. We have, and will continue to have, essentially no assets to provide the owners of business opportunities.
We currently have a number of acquisitions that are pending completion and
execution of material definitive agreements. In particular, we completed our due
diligence into acquisition transactions with
At this time, we have little cash on hand or committed resources of debt or equity to fund these losses, and will be reliant, potentially, on advances from our principal shareholder, director and officer.
Evaluation of new business opportunities is undertaken by, or under the
supervision of, our director Mr.
We will not acquire or merge with any company for which audited financial statements cannot be obtained within a reasonable period of time after closing of the proposed transaction consistent with SEC Rules.
13
RESULTS OF OPERATIONS FOR THE THREE MONTHS ENDED
Revenue
We recognized no revenue during the three-month periods ended
General and Administrative Expenses
During the three months ended
Other Income (Expense)
During the three months periods ended
Net Income (Loss)
During the three months ended
LIQUIDITY AND CAPITAL RESOURCES
At
Consequently, we are now dependent on raising additional equity and/or debt to meet our ongoing operating expenses. There is no assurance that we will be able to raise the necessary equity and/or debt that we will need to fund our ongoing operating expenses.
It is our current intention to seek to raise debt and, or, equity financing to meet ongoing operating expenses and attempt to complete and close our pending acquisitions and/or acquire, merge with or engage in other business combinations with other entities to create value for our shareholders. There is no assurance that this series of events will be satisfactorily completed, and future losses are likely to occur.
As a result of these, among other factors, we received from our registered
independent public accountants in their report for the financial statements for
the years ended
Our primary sources (uses) of cash for the six months endedOctober 31, 2020 and 2019 were as follows: Six months ended Six months endedOctober 31, 2020 October 31, 2019
- - Net Cash Provided by Financing Activities 61,321 141,922 Net Change in Cash and Cash Equivalents $ 19,201 $ - 14 Operating Activities
During the six months ended
Investing Activities
We neither generated nor used funds in investing activities during the six
months ended
Financing Activities
During the six months ended
We are dependent upon the receipt of capital investment or other financing to fund our ongoing operations and to execute our business plan. In addition, we are dependent upon our controlling shareholder to provide continued funding and capital resources. If continued funding and capital resources are unavailable at reasonable terms, we may not be able to implement our plan of operations.
Off-Balance Sheet Arrangements
The Company does not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on the Company's financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.
Contractual Obligations
None
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