Forward looking statement notice

The following discussion and analysis of our results of operations and financial condition should be read together with our unaudited financial statements and the notes thereto, which are included elsewhere in this Report and our Annual Report on Form 10-K for the year ended June 30, 2020 (the "Annual Report") filed with SEC. Our financial statements have been prepared in accordance with generally accepted accounting principles in the United States (the "U.S. GAAP").





Overview

The Company was incorporated under the name "Kelinda" in the state of Nevada on December 18, 2017 to create health related applications.

Following a Change in Control on March 16, 2020, the Company changed its business plan to engage in online business service in the People's Republic of China. The Company changed its name to Bangfu Technology Group Co., Ltd. on June 3, 2020 and its stock ticker to "BFGX", effective June 8, 2020.





Results of Operations



Revenue

For the three months ended September 30, 2020 and 2019, the Company did not generate any revenue. The Company does not expect to generate revenue until its business plan is implemented.





Operating Expenses

Total operating expenses for the three months ended September 30, 2020 were $17,750, an increase of 26% as compared to operating expenses of $14,113 for the same period of 2019. The operating expenses for the three months ended September 30, 2020 primarily included audit expense, legal fees and professional fees , whereas for the same period of 2019, the operating expenses primarily included professional fees and depreciation expenses. The increase was primarily due to increase in legal expenses since the Company now engaged a legal counsel to assist with the Company's periodic filings, whereas in 2019, there were no such similar services.





Net Loss

As a result of the foregoing, the Company incurred a net loss of $17,750 for the three months ended September 30, 2020, as compared to a net loss of $14,113 for the three months ended September 30, 2019.





Going Concern

The future of our company is dependent upon our ability to obtain financing to implement our new business plans and initiatives and our ability to generate positive net profits from implementation of our business plans. Management has plans to seek additional capital funding through either equity financings or debt financings from its principal stockholders to support its operations for the next twelve months. However, there is no assurance that such funds will be available or available on acceptable terms. If adequate funds are not available or are not available on acceptable terms, we may not be able to take advantage of prospective new business endeavors or opportunities, which could significantly and materially restrict our business operations.

Liquidity and Capital Resources

As of September 30, 2020, the Company had no assets, no liabilities and had an accumulated deficit of $167,778.





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Cash Flows from Operating Activities

For the three months ended September 30, 2020, net cash used in operating activities was $17,750, which is due to the net loss for the period of $17,750.

For the three months ended September 30, 2019, net cash used in operating activities was $18,898, which is primarily the result of: (1) net loss for the period of $14,113; (2) adjustment for depreciation of $8,338; and (3) adjustment for decrease in accounts payable of $13,050.

Cash Flows from Financing Activities

For the three months ended September 30, 2020, net cash generated by financing activities was $17,750, which represented capital contribution from the Company's principal stockholder to support the operations of the Company. For the three months ended September 30, 2019, net cash generated by financing activities was $18,600, which represented advances from related party to support the Company's operations.





Material commitments

We had no material commitments as of September 30, 2020.

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 are material to investors.

Critical Accounting Policies and Estimates

Our discussion and analysis of our financial condition and results of operations is based on our financial statements. In preparing our financial statements in conformity with U.S. GAAP, we must make a variety of estimates that affect the reported amounts and related disclosures. See Note 3 of our interim financial statements.

In addition, Section 107 of the JOBS Act provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. In other words, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected to take advantage of the benefits of this extended transition period. Our financial statements may therefore not be comparable to those of companies that comply with such new or revised accounting standards.





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