The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our financial statements and related notes included elsewhere in this report.
This annual report contains forward looking statements relating to our Company's future economic performance, plans and objectives of management for future operations, projections of revenue mix and other financial items that are based on the beliefs of, as well as assumptions made by and information currently known to, our management. The words "expects", "intends", "believes", "anticipates", "may", "could", "should" and similar expressions and variations thereof are intended to identify forward-looking statements. The cautionary statements set forth in this section are intended to emphasize that actual results may differ materially from those contained in any forward-looking statement.
6
Results of Operations for the Years Ended
The following summary of our results of operations should be read in conjunction
with our audited financial statements for the years ended
Our operating results for the years endedApril 30, 2022 and 2021 are summarized as follows: Year Ended April 30, 2022 2021 General and administrative$ 76,761 $ 1,625 Professional fees$ 17,546,486 $ 46,000 Other expenses$ 95,330,565 $ 4,685 Net Loss$ 112,953,812 $ 52,310 Operating Revenues
During the years ended
Operating Expenses and Net Loss
Operating expenses for the year ended
Other Income and Net Loss
Other income consisting of interest expense, loss on acquisition, and loss on
settlement of debt for the year ended
Liquidity and Capital Resources
Working Capital At At April 30 April 30, 2022 2021 Current Assets$ 26,961 $ - Current Liabilities$ 450,233 $ 264,888 Working Capital (deficit)$ (423,272 ) (264,888 )
As of
As of
7 Cash Flows Year Ended Year EndedApril 30 ,April 30, 2022 2021
Cash used in Operating Activities
Cashflow from Operating Activities
During the year ended
Cashflow from Investing Activities
During the year ended
Cashflow from Financing Activities
During the year ended
Going Concern
These financial statements have been prepared on a going concern basis, which
implies that the Company will continue to realize its assets and discharge its
liabilities in the normal course of business. The Company has a working capital
deficit of
Trends
We are in the pre-development stage, have not generated any revenue and have no prospects of generating any revenue in the foreseeable future. We are unaware of any known trends, events or uncertainties that have had, or are reasonably likely to have, a material impact on our business or income, either in the long term of short term.
8
Off-Balance Sheet Arrangements
We have no significant off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in our financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to our stockholders.
Inflation
The effect of inflation on our revenues and operating results has not been significant.
Subsequent Events None.
Critical Accounting Policies
Our financial statements are presented in
Use of Estimates and Assumptions
The preparation of financial statements in conformity with accounting principles
generally accepted in
Income Taxes
The Company follows the liability method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax balances. Deferred tax assets and liabilities are measured using enacted or substantially enacted tax rates expected to apply to the taxable income in the years in which those differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the date of enactment or substantive enactment.
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