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MarketScreener Homepage  >  Equities  >  OTC Bulletin Board - Other OTC  >  Reliant Service Inc    RLLT

RELIANT SERVICE INC (RLLT)
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RELIANT SERVICE : MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION. (form 10-Q)

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03/13/2018 | 06:28pm CEST

A cautionary note regarding forward-looking statements

This report contains forward-looking statements which 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.

While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.




Results of Operations



Three Months Ended January 31, 2018 and 2017

We generated $31,843 and $30,083 in revenues for the three months ending January 31, 2018 and 2017, respectively. Our cost of goods sold was $31,118 and $29,181, resulting in a gross profit of $725 and $902, respectively. The difference in the gross revenue was due to the type of cabinets purchased by the client. We incurred operating expenses of $1,144 and $18,422 for the three months ended January 31, 2018 and 2017, respectively. These expenses consisted of general operating expenses, including professional fees, incurred in connection with the day to day operation of our business and the preparation and filing of our periodic reports. An income tax provision of $63 was recorded for the three months ended January 31, 2018. An income tax provision of $2,628 was recorded for January 31, 2017.

Six Months Ended January 31, 2018 and 2017

We generated $62,442 and $67,015 in revenues for the six months ending January 31, 2018 and 2017, respectively. Our cost of goods sold was $60,338 and $59,832, resulting in a gross profit of $2,104 and $7,183, respectively. The difference in the gross revenue was due to the type of cabinets purchased by the client. We incurred operating expenses of $4,987 and $58,116 for the six months ended January 31, 2018 and 2017, respectively. These expenses consisted of general operating expenses, including professional fees, incurred in connection with the day to day operation of our business and the preparation and filing of our periodic reports. For the period ended January 31, 2017 we recorded $38,700 in expense for our private label development.




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An income tax provision of $63 and $7,640 was recorded for January 31, 2018 and 2017, respectively.

On July 17, 2015, we issued 4,000,000 shares of common stock to our sole officer and director. Mr. Augustin purchased the 4,000,000 shares at a purchase price of $0.001 per share, for an aggregate purchase price of $4,000.

The company's Registration Statement on Form S-1 was declared effective on October 6, 2016. In October 2016 the company sold 1,015,000 shares of common stock to 31 independent shareholders at a price of $0.04 per share for total proceeds of $40,600, pursuant to the Registration Statement.

Our company had 5,015,000 shares of common stock issued and outstanding as of January 31, 2018. During 2015, Stanislav Augustin, our sole officer and director advanced the Company $100 to pay expenses. The loan is an oral contract, bears no interest and is payable on demand. As of January 31, 2018, the company had no accounts receivable, no accounts payable and $100 in a loan payable.

The following table provides selected financial data about our company for the period ended January 31, 2018. For detailed financial information, see the financial statements included in this report.



Balance Sheet Data:     1/31/2018

Cash                   $       151
Total assets           $    15,675
Total liabilities      $       100
Stockholder's equity   $    15,575

We are actively working to advance our business plan. We have generated $342,031 in revenue since inception.

Our 12 month plan of operation includes developing our US business including establishing a sales force team to sell more file cabinet products. If we are able to justify the expense we will buy a small US office and will start US business operations from it, servicing our US clients. Until then we will continue to operate from the Czech Republic office we already have.

Our initial focus is expansion into the US market. The Czech operations will only be expanded once we have sufficient funds from our US operations, which Management estimates to be in 3-5 years.

Liquidity and Capital Resources

Our assets at January 31, 2018 were $15,675 which included $151 in cash, $5,219 in income tax benefit and $10,305 (net) in our office building. Management estimates our current monthly "burn rate" to be $5,000. We will require additional revenues or loans from our director to continue operations.




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Off-Balance Sheet Arrangements

We do not have any 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 investors.

© Edgar Online, source Glimpses

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