The following discussion should be read in conjunction with our audited financial statements and the related notes that appear 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 annual report.
6 Table of Contents Results of Operations
Since inception, we have not earned any revenue. During the year ended
Year Ended December 31, 2018 2017 Changes Revenue $ - $ - $ - Total operating expenses 18,525 37,149 (18,624 ) Other expenses 2,799 4,378 (1,579 ) Net loss$ 21,324 $ 41,527 $ (20,203 )
Liquidity and Financial Condition
Working Capital December 31, December 31, 2018 2017 Changes Total Current Assets $ -$ 3,333 $ (3,333 ) Total Current Liabilities 40,475 22,484 17,991 Working Capital (Deficiency)$ (40,475 ) $ (19,151 ) $ (21,324 ) Cash Flows Year Ended December 31 2018 2017
Net cash used in operating activities $ - $ - Net cash used in investing activities
- - Net cash provided by financing activities - - Net change in cash during year $ - $ -
As at
Our total current liabilities as of
As at
7 Table of Contents Operating Activities
Net cash used in operating activities was
Investing Activities
We did not use any cash in investing activities for the years ended
Financing Activities
We did not have any cash provided from financing activities for the years ended
Contractual Obligations
As a "smaller reporting company", we are not required to provide tabular disclosure obligations.
Going Concern
Our auditors have issued a going concern opinion on our audited financial
statements for the year ended
The continuation of our business is dependent upon obtaining further financing or acquiring a new business and achieving a break even or profitable level of operations in that new business. The issuance of additional equity securities by us could result in a significant dilution in the equity interests of our current stockholders. It is not probable we would be able to obtaining traditional loans from financial institutions because we have no business operations, no assets and no revenues.
There are no assurances that we will be able to obtain additional financing through private placements, bank financing or other loans necessary to support our working capital requirements. To the extent that funds generated from operations and any private placements, public offerings and/or bank financing are insufficient, we will have to raise additional working capital. No assurance can be given that additional financing will be available, or if available, will be on terms acceptable to us. We have been reliant on our majority shareholder to provide financial contributions and services to keep the company operating. We currently have no written or oral agreement from our majority shareholder to continue to provide financial contributions.
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
We prepare our financial statements in conformity with GAAP, which requires management to make certain estimates and assumptions and apply judgments. We base our estimates and judgments on historical experience, current trends and other factors that management believes to be important at the time the financial statements are prepared and actual results could differ from our estimates and such differences could be material. We have identified below the critical accounting policies which are assumptions made by management about matters that are highly uncertain and that are of critical importance in the presentation of our financial position, results of operations and cash flows. Due to the need to make estimates about the effect of matters that are inherently uncertain, materially different amounts could be reported under different conditions or using different assumptions. On a regular basis, we review our critical accounting policies and how they are applied in the preparation our financial statements.
8 Table of Contents Use of Estimates
The preparation of financial statements in conformity with accounting principles
generally accepted in
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