This Quarterly Report on Form 10-Q contains "forward-looking statements" within
the meaning of the safe harbor provisions of the U.S. Private Securities
Litigation Reform Act of 1995. Because they discuss future events or conditions,
forward-looking statements may include words such as "anticipate," "believe,"
"estimate," "intend," "could," "should," "would," "may," "seek," "plan,"
"might," "will," "pursue," "expect," "anticipate," "predict," "project,"
"goals," "strategy," "future," "likely," "forecast," "potential," "continue,"
negatives thereof or similar references to future periods. Examples of
forward-looking statements include, among others, statements we make regarding:
• Potential acquisition or merger targets;
• Business strategies;
• Future cash flows;
• Financing plans;
• Plans and objectives of management;
• Any other statements regarding future acquisitions, future cash needs,
future operations, business plans and future financial results; and
• Any other statements that are not historical facts.
Forward-looking statements are neither historical facts nor assurances of future
performance. Instead, they are based only on our current beliefs, expectations
and assumptions regarding the future of our business, future plans and
strategies, projections, anticipated events and trends, the economy and other
future conditions. Because forward-looking statements relate to the future, they
are subject to inherent uncertainties, risks and changes in circumstances that
are difficult to predict and many of which are outside of our control. Our
actual future results and financial condition may differ materially from those
indicated in the forward-looking statements. Therefore, you should not rely on
any of these forward-looking statements. Important factors that could cause our
actual results and financial condition to differ materially from those indicated
in the forward-looking statements include, among others, the following:
• Volatility or decline of our stock price;
• Potential fluctuation of quarterly results;
• Failure of the Company to earn revenues or profits;
• Inadequate capital to continue or expand our business, and inability to
raise additional capital or financing to implement its business plans;
• Decline in demand for our products and services;
• Rapid adverse changes in markets;
• Litigation with or legal claims and allegations by outside parties against
• Insufficient revenues to cover operating costs;
• Inability to source attractive investment deal flow on terms favorable to
the Company; and
• Such other factors as discussed throughout Item 2, Management's Discussion
and Analysis of Financial Condition or Plan of Operation, of our Quarterly
Report on Form 10-Q for the quarter ended March 31, 2021
There is no assurance that we will be profitable, we may not be able to attract
or retain qualified executives and personnel, we may not be able to obtain
customers for future products or services, additional dilution in outstanding
stock ownership may be incurred due to the issuance of more shares, warrants and
stock options, or the exercise of outstanding warrants and stock options, and
other risks inherent in our businesses.
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Because the statements are subject to risks and uncertainties, actual results
may differ materially from those expressed or implied by the forward-looking
statements. We caution you not to place undue reliance on the statements, which
speak only as of the date of this Quarterly Report on Form 10-Q. The cautionary
statements contained or referred to in this section should be considered in
connection with any subsequent written or oral forward-looking statements that
we or persons acting on our behalf may issue. We do not undertake any obligation
to review or confirm analysts' expectations or estimates or to release publicly
any revisions to any forward-looking statements to reflect events or
circumstances after the date of this Quarterly Report, or to reflect the
occurrence of unanticipated events.
ABV Consulting, Inc. ("we," "us," "our," "ABVN" or the "Company") was
incorporated in the state of Nevada on October 15, 2013. At formation, the
Company authorized 100,000,000 shares of common stock, par value $0.0001 per
share, and 10,000,000 shares of preferred stock, par value $0.0001 per share. In
connection with our formation, the Company's founder, Andrew Gavrin, received
5,000,000 shares of common stock as founder shares, and Mr. Gavrin served as the
Company's chief executive officer, chief financial officer and sole director
from the time of incorporation until August 22, 2016.
On August 22, 2016, in connection with the sale of a controlling interest in the
Company, Mr. Gavrin sold to Ms. Ping Zhang the entire amount of his 5,000,000
shares of common stock for an aggregate price of $228,400 (the "Change of
Control Transaction"). In connection with the Change of Control Transaction, Mr.
Gavrin agreed pay $25,186.25 of debts of the Company in addition to the
cancellation of $35,000 worth of debt owed to him by the Company. Concurrent
with the Change of Control Transaction, Mr. Gavrin resigned from all corporate
officer and director roles, and was replaced in all roles by Mr. Wai Lim Wong.
On December 19, 2016, the Company amended its articles of incorporation to
increase the authorized number of shares of the Company's common stock from
100,000,000 to 3,000,000,000 shares, par value $0.0001.
On February 24, 2017, ABV entered into a Share Exchange Agreement (the
"Agreement") with Allied Plus (Samoa) Limited, an international company
incorporated in Samoa with limited liability ("APSL"), and each of APSL's
shareholders (collectively, the "Sellers"), pursuant to which, and subject to
the terms and conditions contained therein, the Company would effect an
acquisition of APSL by acquiring from the Sellers all outstanding equity
interests of APSL (the "Acquisition").
Pursuant to the Agreement, in exchange for all of the outstanding shares of
APSL, the Company would issue 1,980,000,000 shares of common stock of the
Company (the "Exchange Shares") to the Sellers. The Exchange Shares to be
allocated among the Sellers pro-rata based on each Seller's ownership of APSL
prior to the Acquisition. The Exchange Shares to be subject to a lock-up as set
forth in the Agreement.
On February 28, 2017, ABV closed the share exchange (the "Exchange") pursuant to
the terms of Agreement. In connection with the closing, on February 28, 2017,
the Company filed Articles of Exchange with the Secretary of State for the State
of Nevada, which Articles of Exchange became effective upon filing
At the closing of the Exchange, the Company acquired 100% of the outstanding
equity interests of APSL from the Sellers, and the Company issued to the
Sellers, pro-rata based on each Seller's ownership percentage of APSL prior to
the Exchange, 1,980,000,000 shares of the Company's common stock, par value
$0.0001 per share (representing approximately 99.72% of the Company's
outstanding common stock). As a result, the Sellers became stockholders of the
Company and APSL became a subsidiary of the Company.
APSL was incorporated in Samoa on January 11, 2016, for the purposes of sourcing
and developing tourism and entertainment-related investment projects in Malaysia
and Southeast Asia in connection with the People's Republic of China's broad
"One Belt, One Road" regional investment and development initiative, and for
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On June 19, 2017, APSL acquired 100% issued and outstanding equity of ABV
Consulting Limited ("ABV HK") which was incorporated in Hong Kong, China, and
ABV HK became the wholly subsidiary of APSL.
On December 19, 2017, the board of directors of ABV and certain shareholders of
the Company ("Shareholders") entered into a Mutual Rescission Agreement (the
"Rescission Agreement"). The Rescission Agreement rescinded the share exchange
agreement dated February 24, 2017 (the "Share Exchange Agreement"), between the
equity interest owners of Allied Plus (Samoa) Limited ("Allied Plus"), who are
also the Shareholders, and the Company.
The Share Exchange Agreement provided for the acquisition of all of the
outstanding equity interests of Allied Plus ("Equity Interests") by the Company
in consideration of the issuance of 1,980,000,000 shares of the Company's common
stock (the "Shares") to the Shareholders. The Shares were issued to the
Shareholders and the Equity Interests were transferred to the Company.
The Rescission Agreement provided that the Shareholders would return all of the
Shares to the Company in consideration for the return of the Equity Interests to
the Shareholders. The Shares would be cancelled and returned to the Company's
treasury. The Shareholders signed stock powers ("Stock Powers") in favor of the
Company, and the Stock Powers and Shares were delivered to the Company's
transfer agent for cancellation.
With the completion of the Rescission Agreement, APSL is no longer a subsidiary
of the Company.
Accordingly, APSL sold the 100% issued and outstanding equity of ABV Consulting
Limited ("ABV HK") to the Company, and ABV HK became our wholly owned
On June 24, 2020, the Company's major shareholder transferred 4,750,000 shares
(the "Shares") of the Company's issued and outstanding stock to Kang Min Global
Holdings Limited, an international business company incorporated in the Republic
of Seychelles ("Kang Min"). The transfer constitutes 85.8% of the issued common
stock of the company, making the transfer a change in control
Our address is Room 10C, 10/F, ACME Building, 28 Nanking Street,
Jordan, Kowloon, Hong Kong. Our corporate website is www.abvnus.com.
We have one wholly subsidiary, ABV Consulting Limited (HK), a Hong Kong company.
We have not ever declared bankruptcy, been in receivership, or involved in any
kind of legal proceeding.
Overview of Current Business
Our Company focuses on the acquisition of target companies with operations
located primarily in Southeast Asia, the Pacific Islands, the People's Republic
of China (including Hong Kong and Macau) (the "PRC"), Taiwan and other
jurisdictions within Asia.. We believe that the PRC's "One Belt, One Road"
("OBOR") regional cooperation initiative will be a significant driver for
strategic investment opportunities throughout Asia.
Results of Operations
Our financial statements have been prepared assuming that we will continue as a
going concern and, accordingly, do not include adjustments relating to the
recoverability and realization of assets and classification of liabilities that
might be necessary should we be unable to continue in operation. We expect we
will require additional capital to meet our long term operating requirements.
Assuming that we continue to require additional capital, and under ideal market
conditions, we expect to raise additional capital through, among other things,
the sale of equity or debt securities.
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Comparison of the three months ended March 31, 2021 and 2020
Three Months Ended
2021 2020 Change
Revenue $ - $ - $ -
General and administrative expenses 377 359 18
Professional fees 705 3,078 (2,373 )
Operation loss (1,082 ) (3,437 ) 2,355
Net loss $ (1,082 ) $ (3,437 ) $ 2,355
Our revenue was $0 for the three months ended March 31, 2021 and 2020.
Our general and administrative expenses were $377 for the three months ended
March 31, 2021, as compared to $359 for the same period in 2020. The increase in
general and administrative expenses was primarily due to an increase in bank
charges and postage expenses off set with a decrease in server rental expenses.
Expenses for professional fees were $705 for the three months ended March 31,
2021, as compared to $3,078 for the same period in 2020. The decrease in
professional fees was primarily due to decrease in legal fees.
Liquidity and Capital Resources
March 31, December 31,
2021 2020 Change %
Cash $ 3,830 $ 3,428 $ 402 12 %
Total assets $ 3,830 $ 3,428 $ 402 12 %
Total liabilities $ 346,616 $ 345,132 $ 1,484 0 %
Stockholders' equity $ (342,786 ) $ (341,704 ) $ (1,082 ) 0 %
March 31, December 31,
2021 2020 Change %
Current assets $ 3,830 $ 3,428 $ 402 12 %
Current liabilities $ 346,616 $ 345,132 $ 1,484 0 %
Working capital deficiency $ (342,786 ) $ (341,704 ) $ (1,082 ) 0 %
As at March 31, 2021 and December 31,2020, current assets consisted of $3,830
and $3,428 cash, respectively.
As at March 31, 2021, current liabilities consisted of accounts payable of
$17,523 and $329,093 owed to related parties, as compared to December 31, 2020,
current liabilities consisted of accounts payable of $17,359 and $327,773 owed
to related parties. The increase in current liabilities is due to the cash paid
by related party.
The following table presents our cash flow for the three months ended March 31,
2021 and 2020:
Three Months Ended
2021 2020 Change
Cash used in operating activities $ (918 ) $ (77 ) $ (841 )
Cash provided by financing activities
1,320 - 1,320
Net change in cash and cash equivalents $ 402 $ (77 ) $ 479
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Cash Flow from Operating Activities
The net cash used in operating activities for the three months ended March 31,
2021 was attributed to a net loss of $1,082, decreased by a change in accounts
payable of $164.
The net cash used in operating activities for the three months March 31, 2020
was attributed to a net loss of $3,437, decreased by expenses paid by related
party of $2,984 and a change in accounts payable of $376.
Cash Flow from Financing Activities
During the three months ended March 31, 2021, our company received $1,320 from a
related party. During the three months ended March 31, 2020, our company
received $0 from a related party.
Off-Balance Sheet Arrangements
As of March 31, 2021, the Company had no material off-balance sheet
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