ME RENEWABLE POWER CORPORATION FORWARD-LOOKING STATEMENTS
This quarterly report contains forward-looking statements. These statements
relate to future events or our future financial performance. In some cases, you
can identify forward-looking statements by terminology such as "may", "should",
"expects", "plans", "anticipates", "believes", "estimates", "predicts",
"potential" or "continue" or the negative of these terms or other comparable
terminology. These statements are only predictions and involve known and unknown
risks, uncertainties and other factors that may cause our or our industry's
actual results, levels of activity, performance or achievements to be materially
different from any future results, levels of activity, performance or
achievements expressed or implied by these forward-looking statements. Although
we believe that the expectations reflected in the forward-looking statements are
reasonable, we cannot guarantee future results, levels of activity, performance
or achievements. Except as required by applicable law, including the securities
laws of
Our unaudited financial statements are stated in
Unless otherwise specified in this quarterly report, all dollar amounts are
expressed in
As used in this quarterly report, the terms "we", "us", "our" and "our company"
mean
Corporate History
On
Articles of Merger to effect the merger and change of name were filed with the
The name change became effective with the Over-the-Counter Bulletin Board at the
opening of trading on
Our principal office address is located at:
Vista del vaque #13
la charcas
11 Current Business
After
Results of Operations
Three months ended
Our operating expenses for the three month period ended
Three Three
months months
ended ended
September 30, September 30,
2017 2016
Revenue $ 0 $ 0
General and Administrative Expenses $ 0 $ 2,500
Professional fees $ 1,000 $ 10,994
Net Operating Loss $ (1,000 ) $ (13,494 )
Operating Revenues
No revenues were recorded for the three months ended
Operating Expenses and Net Loss
Operating expenses for the three months ended
Net loss for the three months ended
12
Nine months ended
Our operating expenses for the nine month period ended
Nine Nine
months months
ended ended
September 30 September 30,
2017 2016
Revenue $ 0 $ 0
General and Administrative Expenses $ 300 $ 7,584
Professional fees $ 3,000 $ 23,192
Net Operating Loss $ (3,300 ) $ (30,776 )
Operating Revenues
No revenues were recorded for the nine months ended
Operating Expenses and Net Loss
Operating expenses for the nine months ended
Net loss for the nine months ended
13
Liquidity and Capital Resources
Working Capital
As at As at
September,
30 December 31,
2017 2016
Current Assets $ 0 $ 0
Current Liabilities $ 46,565 $ 43,265
Working Capital (deficiency) $ (46,565 ) $ (43,265 )
Cash Flows
Nine months Nine months
Ended Ended
September
30, September 30,
2017 2016
Net cash used in operating activities
0
Net cash provided by financing activities
$ 0 $ 5,000
As at
As at
As at
Cashflow from Operating Activities
During the nine months ended
Cashflow from Investing Activities
During the nine months ended
Cashflow from Financing Activities
During the nine months ended
14 Going Concern
We have not attained profitable operations and are dependent upon obtaining financing to pursue any extensive acquisitions and activities. For these reasons, our auditors stated in their report on our audited financial statements that they have substantial doubt that we will be able to continue as a going concern without further financing.
Off-Balance Sheet Arrangements
We have no 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 that are material to stockholders.
Future Financings
We expect that working capital requirements will continue to be funded through a combination of our existing funds, further issuances of securities and loans from our principal shareholder. Our working capital requirements are expected to increase in line with the growth of our business.
Existing working capital, further advances and debt instruments, and anticipated cash flow are expected to be adequate to fund our operations over the next three months. We have no lines of credit or other bank financing arrangements. Generally, we have financed operations to date through the proceeds of the private placement of equity and debt instruments. In connection with our business plan, management anticipates additional increases in operating expenses and capital expenditures relating to: (i) acquisition of inventory; (ii) developmental expenses associated with a start-up business; and (iii) marketing expenses. We intend to finance these expenses with further issuances of securities, and debt issuances. Thereafter, we expect we will need to raise additional capital and generate revenues to meet long-term operating requirements. Additional issuances of equity or convertible debt securities will result in dilution to our current shareholders. Further, such securities might have rights, preferences or privileges senior to our common stock. Additional financing may not be available upon acceptable terms, or at all. 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.
Critical Accounting Policies
Our financial statements and accompanying notes have been prepared in accordance
with
We regularly evaluate the accounting policies and estimates that we use to
prepare our financial statements. In general, management's estimates are based
on historical experience, on information from third party professionals, and on
various other assumptions that are believed to be reasonable under the facts and
circumstances. Actual results could differ from those estimates made by
management. Our fiscal year end is
Use of Estimates
The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.
15
Basic Income (Loss) Per Share
Our company computes loss per share in accordance with "ASC-260", "Earnings per Share" which requires presentation of both basic and diluted earnings per share on the face of the statement of operations.
Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share give effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive.
For the nine month period ended to
Recently Issued Accounting Pronouncements
Our company has reviewed all the recently issued, but not yet effective accounting pronouncements and we do not believe any of these pronouncements will have a material impact on our company.
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