The following discussion and analysis of the results of operations and financial
condition of
Overview and Plan of Operation
The Company was incorporated under the laws of the
The Company has been unsuccessful in obtaining the full funding required for its business plan. Consequently, the Company is searching/researching for new investments opportunities, as discussed below.
The Company's fiscal year-end is
Results of Operations
For the year ended
Revenue
Company has generated no revenues from
Operating Expenses
Our operating expenses for the year ended
Net loss
Our loss for the year ended
Liquidity and Capital Resources
As reflected in the accompanying financial statements, the Company had a net
loss of
Net cash earned in our operating activities during the year ended
Net cash provided by investing activities in the year ended
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Net cash used by financing activities in the year ended
The ability of the Company to continue its operations is dependent on Management's plans, which may include the raising of capital through debt and/or equity markets with some additional funding from other traditional financing sources, which may include term notes, until such time that funds provided by operations are sufficient to fund working capital requirements. The Company may need to incur liabilities with certain related parties to sustain the Company's existence.
The Company will require additional funding to finance the growth of its current and expected future operations as well as to achieve its strategic objectives. There can be no assurance that financing will be available in amounts or terms acceptable to the Company, if at all.
Off-Balance Sheet Arrangements
We have no off-balance sheet arrangements as of
Inflation
We do not believe that inflation has had a material effect on our results of operations.
Critical Accounting Policies Use of Estimates
The preparation of financial statements in conformity with accounting principles
generally accepted in
Intangible Assets
Identifiable intangible assets with indefinite lives are not amortized, but instead are tested for impairment annually, or more frequently if circumstances indicate a possible impairment may exist. Intangible assets with estimable useful lives are amortized over their respective estimated useful lives, generally on a straight-line basis, and are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable.
Impairment of Long-Lived Assets
Under
Share Based Payments
The Company recognizes compensation expense for all equity-based payments in accordance with ASC 718 "Share-Based Payments". Under fair value recognition provisions, the Company recognizes equity-based compensation net of an estimated forfeiture rate and recognizes compensation cost only for those shares expected to vest over the requisite service period of the award.
Share-Based Payments to employees, including grants of employee stock options, are recognized as compensation expense in the financial statements based on their fair values. That expense is recognized over the period during which an employee is required to provide services in exchange for the award, known as the requisite service period (usually the vesting period).
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The Company accounts for Share-Based Payments granted to non-employees in accordance with ASC 505, "Equity Based Payments to Non-Employees". The Company determines the fair value of the Share-Based Payment as either the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. If the fair value of the equity instruments issued is used, it is measured using the stock price and other measurement assumptions as of the earlier of either (1) the date at which a commitment for performance by the counterparty to earn the equity instruments is reached, or (2) the date at which the counterparty's performance is complete.
Recently Issued Accounting Pronouncements
None.
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