The following discussion and analysis of our results of operations and financial condition should be read together with our unaudited condensed 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 December 31, 2019 (the "Annual Report") filed with SEC. Our financial statements have been prepared in accordance with U.S. GAAP.

Exent Corp. (the "Company," "we" or similar terminology) incorporated in the state of Nevada on February 15, 2017. Our original business was manufacturing and selling steel drywall studs in the Kyrgyz market to wholesale customers. During the fiscal year ended December 31, 2019, we sold our stud manufacturing machine as it was outdated. Production thereafter was temporarily on hold until new equipment was purchased.

On February 3, 2020, pursuant to a stock purchase agreement dated on January 21, 2020, an individual investor (Mr. Weining Zheng) purchased 1,500,000 shares of our common stock from our then majority stockholder, Marat Asylbekov, representing 74% of the voting securities of our company (the "Change of Control"). Following the Change of Control, we changed our business plan to engage in smart-home business in the People's Republic of China.

We plan to conduct business in the People's Republic of China in the "smart home" sector, with a focus on developing, promoting and executing high quality integrated smart-home systems and solutions. We are presently evaluating the optimal corporate and legal structures in China necessary to establish our business or to acquire and/or invest in existing smart home businesses. We aim to start the smart-home business in 2021 and the funds to financing the start-up of the new business or acquisition of and/or investment in existing smart home businesses will primarily come from our major stockholder. However, our plan to operate in the smart home industry has been adversely impacted by the ongoing COVID-19 pandemic, which is now continuing to spread throughout the world. Although China has made great efforts to contain the spread of the virus and had brought the outbreak under control, the economy, financial market and businesses in China have been suffering due to COVID-19. As a result of COVID-19 and its socioeconomic impact in China, we may change our plan to do business in other industries in China should we determine that the smart home industry is materially and adversely affected by COVID-19 and it is no longer in the best interest of our stockholders and the Company to proceed with our original plan.





Results of Operations

There was no revenue generated for the periods ended March 31, 2021 and 2020. We did not expect to generate any revenue until our business plan is implemented.

During the three months ended March 31, 2021, we incurred operating expenses of $19,197 as compared to $13,757 during the same period of 2020. The increase in 2021 was due to the increase in professional fees after the Change of Control. The increase in professional fees was due to the Company started using professional consultants, including lawyer and financial advisor to perform certain financial reporting functions since March 2020 after the Change of Control. Before that, these functions were mainly performed by management.

During the three months ended March 31, 2020, we had other expense of $4,623 relating to the write-off of the Company's property and equipment.

As a result of the foregoing, our net loss for the three months ended March 31, 2021 was $19,197 as compared to a net loss of $18,380 for the same period of 2020.

Liquidity and Capital Resources

As of March 31, 2021, we had no assets and our total liabilities were $3,491 compared to $9,344 at December 31, 2020. Working capital deficit was $3,491 as of March 31, 2021 compared to $9,344 as of December 31, 2020.

Cash Flows from Operating Activities

We did not generate any cash flows from operating activities for the three months ended March 31, 2021 and 2020.

For the three months ended March 31, 2021, net cash flows used in operating activities was $25,050 due to:





  ? net loss of $19,197; and
  ? decrease in accounts payable of $5,853.

Net cash flows used in operating activities was $15,210 for the same period of 2020 due to:





  ? net loss of $18,380;
  ? increase by adjusting non-cash write-off of fixed assets of $4,623;
  ? increase in prepaid expenses of $4,453; and
  ? increase in accounts payable of $3,000.

Cash Flows from Investing Activities

There were no investing activities for the three months ended March 31, 2021 and 2020.





                                       9

Cash Flows from Financing Activities

We have financed our operations primarily from either advances from stockholders or financing through the sales of securities. For the three months ended March 31, 2021, we received capital contributions of $25,050 from our major stockholder for working capital uses. For the same period of 2020, we received loan proceeds of $15,200 from our then sole officer and director.

Plan of Operation and Funding

Our future capital requirements will depend on numerous factors including, but not limited to, the establishment and development of our "smart-home" business opportunities in China. We expect to depend on financing from our majority stockholder to meet our current minimal operating expenses. As we are a start-up company, our operating expenses are limited and discretional based on the availability of its funds. Management believes that the financing from our majority stockholder will support our planned operations over the next 12 months.

We do not have lines of credit or other bank financing arrangements. In connection with our new business plan after the Change of Control, management anticipates operating expenses and capital expenditures relating to: (i) developmental expenses associated with a start-up business and (ii) marketing expenses will be funded primarily by debt or equity financings from our majority stockholder. 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.

© Edgar Online, source Glimpses