Forward Looking Statements
The following discussion of our financial condition and results of operations should be read in conjunction with our consolidated financial statements and the related notes and other financial information appearing elsewhere in this Annual Report. Readers are also urged to carefully review and consider the various disclosures made by us which attempt to advise interested parties of the factors which affect our business, including without limitation the disclosures made in Item 1A of Part I of this Annual Report under the caption "Risk Factors."
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Results of Operations for the three-month period ended
The first nine months of 2020 were utilized by management primarily to complete
reporting requirements for the Company's forthcoming Form 10 Registration
filing, as well as the Company's subsequent S1 Registration and raising.
Additional activities included ongoing supervision of the editorial process of
the feature film, "WILDFIRE" as well as on-boarding and mastering work related
to the preparation and prelaunch of the consumer streaming site, MyFlix.
Revenues for Q3 were a modest
Cost of Revenue
There were not cost-of-goods incurred during Q1 which impacted the G&A or Income Statement for this period.
Gross & Net Profits
For the applicable reporting period, Company posted a Gross Profit of
General and Administrative Expenses
General and administrative expenses for the current reporting period were
Interest expense.
Interest expense was
Liquidity & Capital Resources
The company had limited and minimal liquidity during the three-month period
ended
As of the
This filing includes a summary of Cash Flows for the Company during the applicable reporting period.
Critical Accounting Policies and Estimates
Our financial statements and related public financial information are based on
the application of accounting principles generally accepted in
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Our significant accounting policies are summarized in Note 1 of our financial statements. While all these significant accounting policies impact its financial condition and results of operations, we view certain of these policies as critical. Policies determined to be critical are those policies that have the most significant impact on our financial statements and require management to use a greater degree of judgment and estimates. Actual results may differ from those estimates. Our management believes that given current facts and circumstances, it is unlikely that applying any other reasonable judgments or estimate methodologies would cause effect on our results of operations, financial position or liquidity for the periods presented in this report.
Off-Balance Sheet Arrangements
We do not currently have any off-balance sheet arrangements, financings, or
other relationships with unconsolidated entities or other persons, also known as
"special purpose entities". There is an existing obligation of
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