FORZA INNOVATIONS INC. The following discussion and analysis should be read in conjunction with our unaudited financial statements, included herewith. This discussion should not be construed to imply that the results discussed herein will necessarily continue into the future, or that any conclusion reached herein will necessarily be indicative of actual operating results in the future. Such discussion represents only the best present assessment of our management.
Forward Looking Statements
Certain matters discussed herein are forward-looking statements. Such forward-looking statements contained in this Form 10-Q involve risks and uncertainties, including statements as to:
· our future operating results; · our business prospects; · our contractual arrangements and relationships with third parties; · the dependence of our future success on the general economy; · our possible future financings; and · the adequacy of our cash resources and working capital.
These forward-looking statements can generally be identified as such because the context of the statement will include words such as we "believe," "anticipate," "expect," "estimate" or words of similar meaning. Similarly, statements that describe our future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties which are described in close proximity to such statements and which could cause actual results to differ materially from those anticipated. Shareholders, potential investors and other readers are urged to consider these factors in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements included herein are only made as of the date of this Form 10-Q, and we undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
Cautionary Statement:
Statements included in this Management's Discussion and Analysis of Financial
Condition and Results of Operations, in future filings by the Company with the
Plan of Operations
As of
Results of Operation for the Three Months Ended
Revenues and Cost of Revenue
Due to the termination of our CNC manufacturing and fabrication business, we did
not have any revenue or cost of revenue from continuing operations for the three
months ended
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Operating Expenses from Continuing Operations
Operating expenses from continuing operations for the three months ended
Other Income from Continuing Operations
During the three months ended
Net Loss from Continuing Operations
Our net loss from continuing operations for the three months ended
Results of Operation for the Nine Months Ended
Revenues and Cost of Revenue
Due to the termination of our CNC manufacturing and fabrication business, we did
not have any revenue or cost of revenue from continuing operations for the nine
months ended
Operating Expenses from Continuing Operations
Operating expenses from continuing operations for the nine months ended
Other Income from Continuing Operations
During the nine months ended
Net Loss from Continuing Operations
Our net loss from continuing operations for the nine months ended
Liquidity and Capital Resources
As reflected in the accompanying unaudited financial statements, the Company has
an accumulated deficit of
Net cash used in investing activities from for the nine months ended
Net cash received from financing activities for the nine months ended
On
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We believe that our principal difficulty in our inability to successfully
implement our plan in full force and attain profits has been the lack of
available capital to operate and expand our business. We believe that because
our shareholders can't deposit their shares and clear shares with certain broker
dealers and clearing firms due to extreme
Critical Accounting Estimates and Policies
The preparation of financial statements in conformity with accounting principles
generally accepted in
We are subject to various loss contingencies arising in the ordinary course of business. We consider the likelihood of loss or impairment of an asset or the incurrence of a liability, as well as our ability to reasonably estimate the amount of loss in determining loss contingencies. An estimated loss contingency is accrued when management concludes that it is probable that an asset has been impaired or a liability has been incurred and the amount of the loss can be reasonably estimated. We regularly evaluate current information available to us to determine whether such accruals should be adjusted.
We recognize deferred tax assets (future tax benefits) and liabilities for the expected future tax consequences of temporary differences between the book carrying amounts and the tax basis of assets and liabilities. The deferred tax assets and liabilities represent the expected future tax return consequences of those differences, which are expected to be either deductible or taxable when the assets and liabilities are recovered or settled. Future tax benefits have been fully offset by a 100% valuation allowance as management is unable to determine that it is more likely than not that this deferred tax asset will be realized.
Off-Balance Sheet Arrangements
We have not entered into 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 and would be considered material to investors.
Recent Accounting Pronouncements
The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on our financial position or results of operations.
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