FORWARD-LOOKING STATEMENTS
This quarterly report contains forward-looking statements. These statements
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. Although
we believe that the expectations reflected in the forward-looking statements are
reasonable, we cannot guarantee future results, levels of activity, performance
or achievements. Except as required by applicable law, including the securities
laws of
Our unaudited financial statements are prepared in accordance with United States Generally Accepted Accounting Principles. The following discussion should be read in conjunction with our financial statements and the related notes that appear elsewhere in this quarterly 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 quarterly report.
In this quarterly report, unless otherwise specified, all dollar amounts are
expressed in
As used in this quarterly report, the terms "we", "us", "our" and "our company"
mean
General Overview
We were incorporated in the
On
From inception until the Acquisition, we were in the business of selling used
automobiles that we purchased in
Our address is
Other than as set out herein, we have not been involved in any bankruptcy, receivership or similar proceedings, nor have we been a party to any material reclassification, merger, consolidation or purchase or sale of a significant amount of assets not in the ordinary course of our business.
We do not have any subsidiaries.
11 Table of Contents Our Current Business
On
Android Apps and Games
Our Android portfolio includes 6 games and 2 apps.
iOS Apps and Games
Our iPhone iOS portfolio includes 5 games and 1 app.
Our iPad iOS portfolio includes 5 games and 1 app.
We currently generate revenue from sales of our paid Apps and minimal revenue from advertisements published on certain Apps. A primary focus for us during the next 12 months is on developing new Apps and modifying existing Apps that we believe can generate increased revenue.
Results of Operations
The following summary of our results of operations should be read in conjunction
with our consolidated financial statements for the three months ended
Our operating results for the three and nine months ended
Three Months Ended
The following summary of our results of operations should be read in conjunction
with our consolidated financial statements for the three months ended
Our operating results for the three months endedOctober 31, 2019 and 2018, and the changes between those periods for the respective items are summarized as follows: Three Months Three Months Ended Ended October 31, October 31, 2019 2018 Changes Revenues $ - $ - $ - Operating Expenses$ (7,595 ) $ (6,086 ) $ (1,509 )
Net Loss from Continued Operations
- $ - $ - Net Loss$ (7,595 ) $ (6,086 ) $ (1,509 ) Revenue
During the three months ended
12 Table of Contents Operating Expenses
During the three months ended
Net Loss
Our net loss from continued operations for the three months ended
Our net loss for the three months ended
Nine Months Ended
The following summary of our results of operations should be read in conjunction
with our consolidated financial statements for the nine months ended
Our operating results for the three months endedOctober 31, 2019 and 2018, and the changes between those periods for the respective items are summarized as follows: Nine Months Nine Months Ended Ended October 31, October 31, 2019 2018 Changes Revenues $ 535 $ -$ 535 Operating Expenses$ (24,860 ) $ (15,724 ) $ (9,136 )
Net Loss from Continued Operations
- $ 500$ (500 ) Net Loss$ (24,325 ) $ (15,224 ) $ (9,101 ) Revenue
During the nine months ended
Operating Expenses
During the Nine months ended
Net Loss
Our net loss from continued operations for the nine months ended
Our net loss for the nine months ended
13 Table of Contents
LIQUIDITY AND CAPITAL RESOURCES
As of As of October 31, January 31, 2019 2019 Changes Cash and cash equivalents $ - $ - $ - Current Assets$ 57,756 $ 57,220 $ 536
Current Liabilities
As at
As at
Stockholders' deficit was
Nine Months Nine Months Ended Ended October 31, October 31, 2019 2018 Changes
Net cash used in operating activities
- - -
Net cash provided by financing activities
-$ (986 ) $ 986
Cash Flows from Operating Activities
For the nine months ended
For the nine months ended
Cash Flows from Investing Activities
For the nine months ended
Cash Flows from Financing Activities
For the nine months ended
Cash Requirements
We will require additional cash as we expand our business. To carry out our business plan, we will need to raise additional capital. There can be no assurance that we will be able to raise additional capital or, if we are able to raise additional capital, the terms we be acceptable to us.
14 Table of Contents
These conditions indicate a material uncertainty that casts significant doubt about our ability to continue as a going concern. We require additional debt or equity financing to have the necessary funding to continue operations and meet our obligations. We have continued to adopt the going concern basis of accounting in preparing our financial statements.
Future Financings
We anticipate continuing to rely on equity sales of our common stock in order to continue to fund our business operations. Issuances of additional shares will result in dilution to our existing stockholders. There is no assurance that we will achieve any additional sales of our equity securities or arrange for debt or other financing to fund our planned business activities.
Off-Balance Sheet Arrangements
We have no 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 stockholders.
© Edgar Online, source