Forward Looking Statements

The following discussion and analysis of the consolidated financial condition and consolidated results of operations of the Company is for the years ended December 31, 2014 and 2013 and should be read in conjunction with the consolidated financial statements, and the notes to those consolidated financial statements that are included elsewhere in this report. Our discussion includes forward-looking statements based upon current expectations that involve risks and uncertainties, such as our plans, objectives, expectations and intentions. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of a number of factors. We use words such as "anticipate," "estimate," "plan," "project," "continuing," "ongoing," "expect," "believe," "intend," "may," "will," "should," "could," and similar expressions to identify forward-looking statements. As used in this report, the terms "MOJO," the "Company," "we," "us," "our," and similar terms mean Mojo Data Solutions, Inc., a Puerto Rico corporation.





7







Company Overview

Since the consummation of the Asset Purchase Agreement on January 31, 2014 (see Note 2 of the consolidated financial statements for details of the transaction), we have been refocusing the Company's business plan and strategy to develop and monetize the intellectual property assets we purchased from MDS. Preceding the transaction, the Company served as a holding company for our predecessor's wholly-owned subsidiary, Authentic Teas Inc., a corporation incorporated in the province of Ontario, Canada on July 8, 2010 ("AUTT Canada"). AUTT Canada historically sold herbal teas online.

Consolidated Results of Operations

Year ended December 31, 2020 compared to the year ended December 31, 2019

During the year ended December 31, 2020, the Company generated revenues of $0 from a non-related party. During the year ended December 31, 2019 the Company generated revenues of $0, from a related party.

During the year ended December 31, 2020, the Company had general and administrative expenses of $98,369 compared to $684,101 during the year ended December 31, 2019. The majority of expenses for the year ended December 31, 2020 were for professional fees related to the regulatory filings.

During the year ended December 31, 2020 and 2019, the Company had interest expense of $0.0 and $0.0, respectively.

The foregoing resulted in net loss of $98,369 during the year ended December 31, 2020 compared to a net loss of $688,517 during the year ended December 31, 2019. The Company attributes the decrease in net loss to decreased professional fees.

Liquidity and Capital Resources





The Company's working capital as of December 31, 2020 and 2019 is summarized as
follows:



                                December 31, 2020       December 31, 2019

Current Assets                 $                 0     $            34,339
Current Liabilities            $           (98,369 )   $          (684,101 )
Working Capital (Deficiency)   $           (98,369 )   $          (649,762 )




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The Company's cash flow for the years ended December 31, 2020 and 2019 is
summarized as follows:



                                                        December 31, 2020       December 31, 2019

Cash (used in) operating activities                    $          (254,468 )   $          (445,169 )
Cash provided by (used in) investing activities        $           179,766     $           (11,525 )
Cash provided by financing activities                  $            39,140     $           493,129
Net increase (decrease) in cash and cash equivalents   $           (37,174 )   $            36,435

As of December 31, 2020, we had a working capital deficiency of $96,533 compared to a working capital deficiency of $649,762 as of December 31, 2019, an improvement of $553,229. The change is primarily attributable to the effects of the MDS Asset Purchase Agreement resulting in a decrease in debt.

We anticipate that our cash on hand and the revenue that we anticipate generating going forward from our operations will not be sufficient to satisfy all of our cash requirements for the next twelve month period. We require funds to enable us to address our minimum current and ongoing expenses as presently, we are not generating revenue to meet our operating and capital expenses. We currently do not have committed sources of additional financing and may not be able to obtain additional financing. To acquire additional financing, we plan to raise any such additional capital primarily through equity and debt financing, provided that such funding is available to us. The issuance of additional equity securities by us may result in a significant dilution in the equity interests of our current stockholders. There is no assurance that we will be able to obtain further funds required for our continued operations or that additional financing will be available to us when needed or, if available, that it can be obtained on commercially reasonable terms. If we are not able to obtain additional financing as required on a timely basis, we will not be able to meet certain obligations as they become due and we will be forced to scale down or perhaps even cease our operations.

Off Balance Sheet Arrangements:

We do not have any off-balance sheet arrangements, financings, or other relationships with unconsolidated entities or other persons, also known as "special purpose entities" (SPEs).

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