Cautionary Note Regarding Forward Looking Statements

This report contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding management's future plans for the Company, our liquidity and ability to raise capital, our business strategy and our future operations. All statements other than statements of historical facts contained in this report, including statements regarding our future financial position, liquidity, working capital sources, business strategy and plans and objectives of management for future operations, are forward-looking statements. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs.

The results anticipated by any or all of these forward-looking statements might not occur. Important factors, uncertainties and risks that may cause actual results to differ materially from these forward-looking statements include the ongoing impact of the coronavirus pandemic and its negative effect on the U.S. and global economies and our lack of an operating history and revenue. Further information on the risk factors affecting our business is contained in "Risk Factors" of our annual report on Form 10-K for the fiscal year ended November 30, 2020. We undertake no obligation to publicly update or revise any forward-looking statements, whether as the result of new information, future events or otherwise.





Description of Business

TradeFan, Inc., previously known as Vado Corp., was incorporated in the State of Nevada on February 10, 2017 and established a fiscal year end of November 30. We have not generated material revenues, have minimal assets and have incurred losses since inception. We were formed to engage in the embroidery business, but in connection with the Change of Control described in the following paragraph, the Company has terminated its plans in the embroidery business and wrote off its assets. Since the Change of Control, we commenced seeking new business opportunities in the United States and abroad. Among other things, we may acquire an ongoing business in a reverse merger.

On May 22, 2020, David Lelong purchased from Dusan Konc 6,000,000 shares of Common Stock of the Company and a convertible promissory note with a face value of $29,973 (the "Vado Related Party Note"), payable by the Company and convertible into shares of Common Stock at $0.0003 per share, for a total purchase price of $100,000 (the "Change of Control"). The Change of Control was affected pursuant to a Securities Purchase Agreement dated May 22, 2020 (the "Purchase Agreement") by and among Mr. Lelong as the purchaser, the Company, and Mr. Konc, the Company's majority shareholder, sole director and officer, as the seller. On May 28, 2020, Mr. Lelong fully converted the Related Party Note into 89,919,000 shares of the Company's common stock.

On February 12, 2021, the Company's Board of Directors approved changing the Company's name to "TradeFan, Inc.".





Plan of Operation

The Company has no operations or revenue as of the date of this report. We have terminated our operations in the embroidery business, and are currently in the process of developing a business plan. Management intends to explore and identify viable business opportunities within the U.S. and abroad including seeking to acquire a business in a reverse merger. See Note 1 to the unaudited financial statements contained in this Report. Our Chief Executive Officer has a history of successfully achieving that goal, although no assurances can be given that he can achieve this. Our ability to effectively identify, develop and implement a viable plan for our business may be hindered by risks and uncertainties which are beyond our control, including without limitation, the continued negative effects of the coronavirus pandemic on the U.S. and global economies. For more information about the risk of coronavirus on our business, see "Risk Factors" contained in our annual report on Form 10-K for the fiscal year ended November 30, 2020.

Results and Plan of Operations

Revenue, Cost of Revenue and Gross Profit

We had no revenue for the three months ended February 28, 2021 and February 29, 2020. We expect this trend to persist until we can locate and acquire an operating business.





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Operating Expenses

Included in continuing operations, we incurred operating expenses of $51,333 and $7,503 during the three months ended February 28, 2021 and February 29, 2020, respectively. The operating expenses were mainly due to the professional fees related to the Company's filings under the Securities Exchange Act of 1934 (the "Exchange Act") and general operating expenditures of running the Company.





Interest Expense

The Company recorded interest expense in the amount of $113 during the three months ended February 28, 2021 in connection with the 2021 Accelerated Online Agreement; there was no comparable transaction during the prior period.





Net Income (Loss)

During the three months ended February 28, 2021 and February 29, 2020, we recorded a net income (loss) of $(51,446) and $(7,503), respectively. The increase was due to additional expenditures in connection with Exchange Act reporting and our search for an operating business to acquire.

Liquidity and Capital Resources

Cash Flows used by Operating Activities:

For the three months ended February 28, 2021, net cash flows used in operating activities was $45,773.

Once we have developed and begun to implement our business plan, management intends to fund our working capital requirements through a combination of our existing funds and future issuances of debt or equity securities. Our working capital requirements are expected to increase in line with the implementation of a business plan and commencement of operations.

Based upon our current operations, we have sufficient working capital to fund our operations over the next 12 months. If we are able to close a reverse merger, it is likely we will need capital as a condition of closing that acquisition. Because of the uncertainties, we cannot be certain as to how much capital we need to raise or the type of securities we will be required to issue. In connection with a reverse merger, we will be required to issue a controlling block of our securities to the target's shareholders which will be very dilutive.

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.

We anticipate that we will incur operating losses in the next 12 months. Our prospects must be considered in light of the risks, expenses and difficulties frequently encountered by companies in their early stage of development. Such risks for us include, but are not limited to, an evolving and unpredictable business model; recognition of revenue sources; and the management of growth. To address these risks, we must, among other things, develop, implement and successfully execute our business and marketing strategy, respond to competitive developments, and attract, retain and motivate qualified personnel. There can be no assurance that we will be successful in addressing such risks, and the failure to do so could have a material adverse effect on our business prospects, financial condition and results of operations.





COVID-19 Update

To date, the COVID-19 pandemic has not had a material impact on the Company, particularly due to our current lack of operations. The pandemic may, however, have an impact on our ability to evaluate and acquire an operating entity through a reverse merger or otherwise. See "Risk Factors" contained in our annual report on Form 10-K for the fiscal year ended November 30, 2020 for more information.

Off-Balance Sheet Arrangements

As of the date of this Quarterly Report, we do not have any 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 investors.


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Going Concern

The independent registered public accounting firm auditors' report accompanying our November 30, 2020 financial statements contained an explanatory paragraph expressing substantial doubt about our ability to continue as a going concern. The financial statements have been prepared "assuming that we will continue as a going concern," which contemplates that we will realize our assets and satisfy our liabilities and commitments in the ordinary course of business.

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