Forward Looking Statements
Certain statements, other than purely historical information, including estimates, projections, statements relating to our business plans, objectives, and expected operating results, and the assumptions upon which those statements are based, are "forward-looking statements." These forward-looking statements generally are identified by the words "believes," "project," "expects," "anticipates," "estimates," "intends," "strategy," "plan," "may," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements. Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse effect on our operations and future prospects on a consolidated basis include, but are not limited to: changes in economic conditions, legislative/regulatory changes, availability of capital, interest rates, competition, and generally accepted accounting principles. These risks and uncertainties should also be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements.
Fiscal Year Ended
Revenue
The Company had no revenue for the years ended
Operating Expenses The following table presents our total operating expenses for the years endedDecember 31, 2019 and 2018: Years ended December 31, 2019 2018 Professional fees$ 6,941 $ 31,075
Other general and administrative costs 3,980 7,162 Total Operating expenses
$ 10,921 $ 38,237
Operating expenses consist mostly of the maintenance fees of the corporate
entity and the preparation and filing of reports with the
Liquidity and Capital Resources
Since its inception, the Company has financed its cash requirements from the sale of common stock and advances from related parties. Uses of funds have included activities to establish our business, professional fees and other general and administrative expenses.
We believe the Company will need additional resources to implement its strategic
objectives in upcoming quarters. Due to our lack of operating history, however,
our auditors have stated their opinion that there currently exists substantial
doubt about our ability to continue as a going concern. As of
The ability of the Company to continue as a going concern is dependent upon,
among other things, obtaining additional financing to continue its filings with
the
The following table provides detailed information about our net cash flow for years presented in this report.
3 Cash Flow Year endedDecember 31, 2019 2018
Net cash used in operating activities
- - Net cash provided by financing activities 35,000 7,500 Net cash inflow (outflow)$ 16,904 $ (16,439 ) Operating Activities
Cash used in operating activities for the years ended
Investing Activities
Net cash provided by our investing activities for the years ended
Financing Activities
Net cash provided by our financing activities for the year ended
Pending our completion of a future potential business combination, we are not
conducting any business activities. Our only operating activities are to comply
with
Off Balance Sheet Arrangements
As of
Going Concern
We have experienced recurring losses and had an accumulated deficit of
Critical Accounting Policies
In
Recently Issued Accounting Pronouncements
Our management has considered all recent accounting pronouncements issued since the last audit of our financial statements. Our management believes that these recent pronouncements will not have a material effect on our financial statements.
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