FORWARD-LOOKING STATEMENTS
This quarterly report contains forward-looking statements. These statements
relate to future events or our future financial performance. In some cases, you
can identify forward-looking statements by terminology such as "may", "should",
"expects", "plans", "anticipates", "believes", "estimates", "predicts",
"potential" or "continue" or the negative of these terms or other comparable
terminology. These statements are only predictions and involve known and unknown
risks, uncertainties and other factors that may cause our or our industry's
actual results, levels of activity, performance or achievements to be materially
different from any future results, levels of activity, performance or
achievements expressed or implied by these forward-looking statements. Although
we believe that the expectations reflected in the forward-looking statements are
reasonable, we cannot guarantee future results, levels of activity, performance
or achievements. Except as required by applicable law, including the securities
laws of
Our unaudited financial statements are prepared in accordance with United States Generally Accepted Accounting Principles. The following discussion should be read in conjunction with our financial statements and the related notes that appear elsewhere in this quarterly 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 quarterly report.
In this quarterly report, unless otherwise specified, all dollar amounts are
expressed in
As used in this quarterly report, the terms "we", "us", "our" and "our Company"
mean
General Overview
We were incorporated under the laws of the
We have since changed our focus to looking for other business opportunities to
implement and/or operating companies with which to engage in a business
combination as described above. As we pursue those other business opportunities,
we have engaged to act as a consultant to a healthcare organization through the
services of an employee as referenced in the 8-K filed
Our address is
We have not ever declared bankruptcy, been in receivership, or involved in any kind of legal proceeding.
The following discussion should be read in conjunction with our financial
statements, including the notes thereto, appearing 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 report. Our unaudited financial
statements are stated in
10 Table of Contents COVID-19
A novel strain of coronavirus (COVID-19) was first identified in
Plan of Operations and Cash Requirements
We are no longer attempting to implement our original business plan. We now intend to look for other business opportunities to implement and/or operating companies with which to engage in a business combination including but not limited to the environmental services industry, emerging innovative technologies and individual health choices led by innovation with integration. Our focus will be on achieving long-term growth potential.
As we pursue those other business opportunities, we have engaged to act as a consultant to a healthcare organization through the services of an employee.
The analysis of new business opportunities will be undertaken by or under the supervision of the Company's management. While the Company has limited assets and minimal operating revenues, the Company has unrestricted flexibility in seeking, analyzing and participating in potential business opportunities and/or combinations in in any type of business, industry or geographical location. In its efforts, the Company will consider the following kinds of factors:
(a) potential for growth, indicated by new technology, anticipated market expansion or new products.
(b) competitive position as compared to other operations of similar size and experience within the industry segment as well as within the industry as a whole.
(c) strength and diversity of management, either in place or scheduled for recruitment.
(d) capital requirements and anticipated availability of required funds, to be provided by the Company or from operations, through the sale of additional securities, through joint ventures or similar arrangements or from other sources.
(e) the cost of participation by the Company as compared to the perceived tangible and intangible values and potentials.
(f) the extent to which the business opportunity can be advanced; and
(g) the accessibility of required management expertise, personnel, raw materials, services, professional assistance and other required items.
In applying the foregoing criteria, not one of which will be controlling, management will attempt to analyze all factors and circumstances and make a determination based upon reasonable investigative measures and available data. Potentially available 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. Due to the Registrant's limited capital available for investigation, the Registrant may not discover or adequately evaluate adverse facts about the opportunity to be acquired. In addition, we will be competing against other entities that possess greater financial, technical and managerial capabilities for identifying and completing the implementation of any opportunities and/or business combinations.
11 Table of Contents Results of Operations
The following summary of our results of operations should be read in conjunction
with our audited financial statements for the period ended
Our operating results for the three months ended
Results of Operations for the three months ended
Three Months Ended October 31, 2022 2021 Changes Revenues$ 25,001 $ -$ 25,001 Operating expenses$ 5,495 $ 2,440 $ 3,055 Interest expense$ 833 $ 67 $ 766 Net loss$ 4,221 $ 2,507 $ 1,714
During the three months ended
We had a net loss of
Cost of revenues for the three months ended
Operating expenses for the three months ended
Interest expenses for the three months ended
12 Table of Contents Balance Sheet Data: October 31, July 31, 2022 2022 Changes Cash$ 2,967 $ 3,087 $ (120 )
Working capital deficiency
$ 12,853 $ 12,572 $ 281 Total liabilities$ 63,855 $ 60,186 $ 3,669
Total stockholders' deficit
As of
As of
Cash Flow Data: Three Months Ended October 31, 2022 2021 Changes
Cash Flows used in Operating Activities
$ (120 ) $ 1 $ (121 )
Cash Flows from Operating Activities
We have not generated positive cash flows from operating activities. For the
three months ended
For the three months ended
Cash Flows from Financing Activities
We have financed our operations loans from a related party. For the three months
ended
13 Table of Contents Going Concern
As of
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 discussion and analysis of our financial condition and results of operations
are based upon our financial statements, which have been prepared in accordance
with the accounting principles generally accepted in
Revenue Recognition
The Company recognizes revenue from its contracts with customers in accordance with ASC 606 - Revenue from Contracts with Customers. The Company recognizes revenues when satisfying the performance obligation of the associated contract that reflects the consideration expected to be received based on the terms of the contract.
Revenue related to contracts with customers is evaluated utilizing the following steps:
(i) Identify the contract, or contracts, with a customer; (ii) Identify the performance obligations in the contract; (iii) Determine the transaction price; (iv) Allocate the transaction price to the performance obligations in the contract; (v) Recognize revenue when the Company satisfies a performance obligation.
When the Company enters into a contract, the Company analyses the services required in the contract in order to identify the required performance obligations which would indicate the Company has met and fulfilled its obligations. For the current contracts in place, the Company has identified performance obligations as one single event, the sign-off by both parties that production is completed, and the product (film) is ready for distribution. To appropriately identify the performance obligations, the Company considers all of the services required to be satisfied per the contract, whether explicitly stated or implicitly implied. The Company allocates the full transaction price to the single performance obligation being satisfied.
14 Table of Contents
The company recognizes the monthly revenue at the beginning of the month and any cash payments received in advanced are recorded as deferred revenue until all obligations have been met as specified in the related customer contract.
During the year ended
Cost of revenue
During the three months ended
Use of Estimates
The preparation of financial statements in conformity with accounting principles
generally accepted in
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