RORINE INTERNATIONAL HOLDING CORPORATION This section of this report includes a number of forward- looking statements that reflect our current views with respect to future events and financial performance. Forward-looking statements are often identified by words like: believe, expect, estimate, anticipate, intend, project and similar expressions, or words which, by their nature, refer to future events. You should not place undue certainty on these forward-looking statements, which apply only as of the date of this report. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or our predictions.
Management's Discussion and Analysis of Financial Condition and Results of Operation
From
On
Development began on a web based social lending platform. This was followed by a strategy to focus on the bio medical sector and, specifically, alternative medical products and services.
In
We have not been involved in any bankruptcy, receivership or similar proceeding.
In May of 2019 (after the relevant period of this report) we experienced a
change of control by virtue of the transfer by our principal shareholder,
The following is an analysis of our revenues and gross profit, details and
analysis of components of expenses, and variances comparing the three months
ended
Three Months Ended
August 31, 2018 August 31, 2017
Revenues $ -Nil- $ -Nil-
Consulting Fees - -
Selling and Administrative Expenses $ $ 3,395
Net Loss from Operations $ ) $ (3,395 )
Expenses
Our expenses for the three months ended August 31, 2018 and August 31, 2017 were
as follows:
Three Months Ended
August 31, 2018 August 31, 2017
Professional Fees $ $ 3,395
Total Expenses $ $ 3,395
7
For the three months ended
Professional Fees
We incurred a total of
The following is an analysis of our revenues and gross profit, details and
analysis of components of expenses, and variances comparing the nine months
ended
Nine Months Ended
August 31, 2018 August 31, 2017
Revenues $ -Nil- $ -Nil-
Consulting fees - -
Selling and Administrative Expenses $ $ 27,035
Net Loss from Operations $ ( ) $ (27,035 )
Expenses
Our expenses for the nine months ended August 31, 2018 and August 31, 2017 were
as follows:
Nine Months Ended
August 31, 2018 August 31, 2017
Professional Fees $ $ 27,035
Total Expenses $ $ 27,035
For the nine months ended
Professional Fees
We incurred a total of
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Liquidity and Capital Resource
Working Capital Deficit
At At
August 31, November 30,
2018 2017
Current Assets $ - $ -
Current Liabilities $ $ 262,037
Working Capital $ ) $ (262,037 )
Cash Flows
Nine months Nine months
ended ended
August 31, August 31,
2018 2017
Net Cash Consumed by Operating Activities $ ( ) $ (15,515 )
Net Cash Provided by Financing Activities $ $ 15,515
Net Cash Consumed $ - $ -
Working Capital Needs:
As of
Professional fees$ 20,000 Other 5,000 Total$ 25,000 Sources of Capital:
We expect to obtain financing through shareholder loans or investments of
equity. Shareholders loans or equity investments may be granted from time to
time as required to meet current working capital needs at negotiated terms. We
have no formal agreement that ensures that we will receive such loans or
investments. We may exhaust this source of funding at any time. The Shareholder
did not fund professional fees for the quarter ended
9
Cash Flows
Operating Activities:
Net cash consumed by operating activities was
Investing and Financing Activities:
We had no investing activities from continuing operations in either the 2018 period or the 2017 period.
Our cash flows from financing activities during the nine month period ended
Material Commitments
We do not have any material commitments for capital expenditures.
Seasonal Aspects
Management is not currently aware of any seasonal aspects which would affect the results of our operations during any particular time of year.
Off Balance Sheet Arrangements
We have no off balance sheet arrangements.
Going Concern
We anticipate that additional funding will be required in the form of equity financing from the sale of our common stock. At this time, we cannot provide investors with any assurance that we will be able to raise sufficient funding from the sale of our common stock or through a loan from our directors to meet our obligations over the next twelve months. We do not have any arrangements in place for any future debt or equity financing.
Recent Accounting Pronouncements
The Company has analyzed the relevant Accounting Standards Updates and has determined that none are anticipated to have a material impact on the Company's financial position or results of operations.
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