Forward-Looking Statements
Certain statements made in this quarterly report on Form 10-Q are "forward-looking statements" in regard to the plans and objectives of management for future operations. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the registrant to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statements included herein are based on current expectations that involve numerous risks and uncertainties. The Company's plans and objectives are based, in part, on assumptions involving the continued expansion of business. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of the Company. Although the Company believes its assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance the forward-looking statements included in this quarterly report will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by the registrant or any other person that the objectives and plans of the registrant will be achieved.
Substantial risks exist with respect to an investment in the Company. These
risks include but are not limited to, those factors discussed in our Annual
Report on Form 10-K for the fiscal year ended
? We have incurred significant losses and expect to incur future losses; ? Our current financial condition and immediate need for capital; ? Potential significant dilution resulting from the issuance of new securities for any funding, debt conversion or any business combination; and ? We are a "penny stock" company.
Description of Business
On
On
From
Results of Operations
While we commenced limited operations during the first fiscal quarter of last year, at the present time, the Company still is considered a shell company as defined in Rule 504 of the Act. One of our principal business objective for the next 12 months and beyond such time will be to achieve meaningful business operations. Alternatively, if we are unable to successfully develop our business, we may seek a combination with a business rather than immediate, short-term earnings. The Company will not restrict our potential candidate target companies to any specific business, industry or geographical location and, thus, may acquire any type of business.
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Comparison of Three and Six Month Periods ended
Revenues
For the three months and six months ended
Cost of Revenues
For both the three months and six months ended
Operating Expenses
For the three months ended
For the six months ended
Net Loss
For the six months ended 31, 2023 and 2022, the Company had a net loss of
For the three months ended 31, 2023 and 2022, the Company had a net loss of
Liquidity and Capital Resource
The Company had
As of
The Company can provide no assurances that it can continue to satisfy its cash requirements for at least the next twelve months.
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The following is a summary of the Company's cash flows from operating and
financing activities for the six months ended
Six Month Ended Six Month EndedJanuary 31, 2023 January 31, 2022
161,314 154,628 Effects of Exchange rate Changes on Cash 507 481 Net Change in Cash $ 26,014 $ (24,728 ) Operating Activities
During the six months ended
Financing Activities
During the six months ended
Our financial statements reflect the fact that we do not have enough revenue to cover expenses. We are at present under-capitalized. The Company is dependent upon the receipt of capital investment or other financing to fund its ongoing operations and to execute its business plan of seeking a combination with a private operating company. In addition, the Company is dependent upon certain related parties to provide continued funding and capital resources. If continued funding and capital resources are unavailable at reasonable terms, the Company may not be able to implement its plan of operations.
Off-Balance Sheet Arrangements
The Company does not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on the Company's financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.
Contractual Obligations
None except as disclosed in the notes to the financial statements.
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