Results of Operations

For the year ended December 31, 2021 compared to the year ended December 31, 2020





Revenue

For the year ended December 31, 2021, the Company generated $0 in revenues. For the year ended December 31, 2020, the Company generated $0 in revenues.





Expenses

For the year ended December 31, 2021, we incurred operating expenses in the amount of $75,990. For the year ended December 31, 2020, we incurred operating expenses in the amount of $44,606. The increase is due mainly to legal and audit and accounting fees.





Net Loss

We had net loss of $75,990 for the year ended December 31, 2021. For the year ended December 31, 2020, we incurred a net loss of $44,893. The increase is due to increased legal and audit and accounting fees which occurred in 2021.





                                       8

Liquidity and Capital Resources

As of December 31, 2021, the Company has no business operations and no cash resources other than that provided by Management. We are dependent upon interim funding provided by Management or an affiliated party to pay professional fees and expenses. Our Management and an affiliated party have agreed to provide funding as may be required to pay for accounting fees and other administrative expenses of the Company until the Company enters into a business combination. The Company would be unable to continue as a going concern without interim financing provided by Management. As of December 31, 2020, we had $0 in cash. As of December 31, 2021, we had $0 in cash.

If we require additional financing, we cannot predict whether equity or debt financing will become available at terms acceptable to us, if at all. The Company depends upon services provided by Management and an affiliated party to fulfill its filing obligations under the Exchange Act. At present, the Company has no financial resources to pay for such services.

The Company does not currently engage in any business activities that provide cash flow. The costs of investigating and analyzing business combinations, maintaining the filing of Exchange Act reports, the investigation, analyzing, and consummation of an acquisition for an unlimited period of time will be paid from additional money contributed by Lei Xu, our sole executive officer and a director, or an affiliated party.

During the next 12 months we anticipate incurring costs related to:

? filing of Exchange Act reports.

? state franchise fees, registered agent fees, legal fees and accounting fees,

and

? investigating, analyzing and consummating an acquisition or business


  combination.

We estimate that these costs will be in the range of thirty to forty thousand dollars per year, and that we will be able to meet these costs as necessary, to be advanced/loaned to us by Management and/or an affiliated party.

As of December 31, 2021 and 2020, we have had $0 in current assets. As of December 31, 2021, we had $112,116 in liabilities, consisting of accounts payable and a Loan payable due to our Management and affiliated parties. As of December 31, 2020, we had $36,126 in liabilities.

We had a negative cash flow from operations of $38,496 during the year ended December 31, 2021, mainly due to a net loss of $44,893. We financed our negative cash flow from operations during the year ended December 31, 2021 through advances made by our Management and affiliated parties.

We had $38,496 cash flow used in operations during the year ended December 31, 2020. The Company currently plans to satisfy its cash requirements for the next 12 months through borrowings from its CEO or other affiliated parties and believes it can satisfy its cash requirements so long as it is able to obtain financing from these affiliated parties. The Company expects that money borrowed will be used during the next 12 months to satisfy the Company's operating costs, professional fees and for general corporate purposes. There is no written funding agreement between the Company and Ms. Lei Xu, our sole executive officer.

The Company has only limited capital. Additional financing is necessary for the Company to continue as a going concern. Our independent auditors have unqualified audit opinion for the years ended December 31, 2021 and 2020 with an explanatory paragraph on going concern.





Critical Accounting Policies

Our significant accounting policies are described in the notes to our financial statements for the year ended December 31, 2021 and 2020, and are included elsewhere in this registration statement.





                                       9





Going Concern

The financial statements accompanying this report have been prepared on a going concern basis, which implies that our company will continue to realize its assets and discharge its liabilities and commitments in the normal course of business. Our company has not generated revenues since its revival on May 18, 2018 and has never paid any dividends and is unlikely to pay dividends or generate earnings in the immediate or foreseeable future. The continuation of our company as a going concern is dependent upon the continued financial support from our officers and shareholders, the ability of our company to obtain necessary equity financing to achieve our operating objectives, and the attainment of profitable operations. As of December 31, 2021, our company has an accumulated deficit of $2,180,586. We do not have sufficient working capital to enable us to carry out our plan of operation for the next twelve months.

Due to the uncertainty of our ability to meet our current operating expenses and the capital expenses noted above in their report on the financial statements for the year ended December 31, 2021, our independent auditors included an explanatory paragraph regarding concerns about our ability to continue as a going concern. Our financial statements contain additional note disclosures describing the circumstances that lead to this disclosure by our independent auditors.

The continuation of our business is dependent upon us raising additional financial support. The issuance of additional equity securities by us could result in a significant dilution in the equity interests of our current stockholders. Obtaining commercial loans, assuming those loans would be available, will increase our liabilities and future cash commitments.





Critical Accounting Policies

The financial statements and the related notes of our company are prepared in accordance with generally accepted accounting principles in the United States and are expressed in US dollars.





Use of Estimates

The preparation of financial statements in conformity with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company's estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.

© Edgar Online, source Glimpses