The following discussion should be read in conjunction with our consolidated
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 Annual Report. Our audited
financial statements are stated in
Results of Operations
Year Ended
Revenue
During the years ended
General and Administrative Expenses
For the year ended
Professional Fees
For the year ended
Other Income/Expense 5
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For the year ended
Net Loss
Our net loss for the year ended
Liquidity and Capital Resources
At
Changes in Cash Flows
Cash Flows from Operating Activities
For the year ended
Cash Flows from Investing Activities
During year ended
Cash Flows from Financing Activities
We have financed our operations primarily from loans from related parties. For
the year ended
The ability of the Company to continue as a going concern is dependent on the Company's ability to raise additional capital and implement its business plan. Since its inception, the Company has been funded by related parties through capital investment and borrowing of funds.
Going Concern
We have not attained profitable operations and are dependent upon obtaining financing to pursue any extensive activities. For these reasons, our auditors stated in their report on our audited financial statements that they have substantial doubt that we will be able to continue as a going concern without further financing.
The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs for the next fiscal year and allow it to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable.
Critical Accounting Policies
Refer to Note 2 of our financial statements contained elsewhere in this Form 10-K for a summary of our critical accounting policies and recently adopting and issued accounting standards.
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