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MarketScreener Homepage  >  Equities  >  OTC Bulletin Board - Other OTC  >  American International Holdings Corp    AMIH

AMERICAN INTERNATIONAL HOLDINGS CORP

(AMIH)
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AMERICAN INTERNATIONAL : MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (form 10-Q)

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08/21/2019 | 02:38pm EDT

Our Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A) is provided in addition to the accompanying financial statements and notes to assist readers in understanding our results of operations, financial condition, and cash flows. MD&A is organized as follows:



  ? Business.

  ? Results of Operations.

  ? Liquidity and Capital Resource.

  ? Critical Accounting Estimates.



The following discussion should be read in conjunction with the American International Holdings Corp. financial statements and accompanying notes included elsewhere in this report. The following discussion contains forward-looking statements that reflect the plans, estimates and beliefs of American International Holdings Corp. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "may," and similar expressions are intended to identify forward-looking statements. The actual results could differ materially from those discussed in the forward-looking statements. Factors that could cause or contribute to these differences include those discussed below and elsewhere in this Report and in other reports we file with the Securities and Exchange Commission ("SEC'), specifically the most recent Annual Report on Form 10-K." The Company undertakes no obligation to update publicly any forward-looking statements as a result of new information, future events or otherwise, unless required by law. All references to years relate to the fiscal year ended December 31 of the particular year.



Business


Results of Operations for AMIH

Three months ended March 31, 2019 compared to the three months ended March 31, 2018

Revenues for the three months ended June 30, 2019 and 2018 was $75,706 and $6,299, respectively

Cost of sales were $23,059 for the three months ended June 30, 2019 and compared to $0 for the three months ended June 30, 2018.

Selling, general and administrative expenses were $119,191 for the three months ended June 30, 2019, compared to $429 for the three months ended June 30, 2018.

Six months ended June 30, 2019 compared to the six months ended June 30, 2018.

Revenues for the six months ended June 30, 2019 and 2018 were $90,947 and $6,299, respectively.

Cost of sales were $35,715 for the six months ended June 30, 2019 compared to $0 for the six months ended June 30, 2018.

Selling, general and administrative expenses were $140,392 and $429, respectively



  12






Liquidity and Capital Resources for AMIH

As of June 30, 2019, AMIH had total assets of $471,971, including $11,510 in cash. At December31, 2018, AMIH had total assets of $123,350, including $18,796 in cash.

As of June 30, 2019 and December 31, 2018, AMIH had total current liabilities of $314,862 and $128,734 respectively.

AMIH had negative working capital of $303,352 and $101,072 as of June 30, 2019 and December 31, 2018, respectively.

Net cash used in operating activities was $46,485 for the six months ended June 30, 2019. Net cash used in operating activities was $3,340 for the six months ended June 30, 2018.

Net cash used in investing activities for the six month ended June 30, 2019 and 2018, was $17,034 and $0, respectively. Net cash used investing activities for the six months ended June 30, 2019 was used purchased property and equipment used in operations.

Net cash provided by financing activities during the six months ended June 30, 2019 was $56,233, compared to $45,000 during the six months ended June 30, 2018. During the six months ended June 30, 2019, the Company sold common shares for $10,000, borrowed $60,000 in short-term borrowing and $18,808 form related parties. It also repaid $31,633 in borrowing from related parties, $942 principal payments on long-term debt. During the six months ended June 30, 2018, the Company borrowed $46,500 in short-term borrowing from related parties, and repaid $1,500 in borrowing from related parties.

Off-Balance Sheet Arrangements

As of June 30, 2019 and December 31, 2018, AMIH did not have any off-balance sheet arrangements as defined in Item 303(aX4Xii) of Regulation S-K promulgated under the Securities Act of 1934.

© Edgar Online, source Glimpses

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Managers
NameTitle
Everett Bassie CFO, Secretary, Treasurer & Director
Charles R. Zeller Director
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