Results of Operations for the years ended November 30, 2022 and 2021:
Revenue
During the years ended November 30, 2022 and 2021 we generated total revenue of
$1,000 and $0.
Operating expenses
Total operating expenses for the years ended November 30, 2022 and 2021 were
$67,442 and $17,837. The operating expenses for the years ended November 30,
2022 and 2021 included Audit Fees of $9,750 and $6,750; Application Development
Expenses of $5,500 and $0; Bank Service Charges of $0 and $282; Professional
Fees of $2,622 and $805; Payroll Expenses of $49,000 and $0; DTC Fees of $0 and
$10,000; Website Expenses of $570 and $0.
6
Net Loss
Our net loss for the years ended November 30, 2022 and 2021 was $66,442 and
$17,837, respectively.
Liquidity and Capital Resources and Cash Requirements
As of November 30, 2022, the Company had cash of $114 ($114 as of November 30,
2021). Furthermore, the Company had a working capital deficit of $108,369
($20,557 as of November 30, 2021).
During the year ended November 30, 2022, the Company used $13,010 of cash in
operating activities due to its net loss $66,442, decrease in Account Payable of
$1,143, increase in Accrued Payroll of $49,000 and decrease in Prepaid Expenses
of $5,575. During the year ended November 30, 2021, the Company used $35,181 of
cash in operating activities due to its net loss $17,837, increase in Account
Payable $1,619 and increase in Prepaid Expenses of $18,963.
During the year ended November 30, 2022, the Company used $21,370 of cash flows
in investing activities related to website development. During the year ended
November 30, 2021, the Company generated $0 of cash flows in investing
activities.
During the year ended November 30, 2022, the Company generated $34,380 of cash
in financing activities which came from related-party loan. During the year
ended November 30, 2021, the Company generated $23,983 of cash in financing
activities which came from related-party loan of $10,849 and proceeds from sale
of common stock of $13,134.
OFF BALANCE SHEET ARRANGEMENTS
We have no off-balance sheet arrangements including arrangements that would
affect our liquidity, capital resources, market risk support and credit risk
support or other benefits.
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