Forward-Looking Statements
Except for historical information, this report contains forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Such forward-looking
statements involve risks and uncertainties, including, among other things,
statements regarding our business strategy, future revenues and anticipated
costs and expenses. Such forward-looking statements include, among others, those
statements including the words "expects", "anticipates", "intends", "believes"
and similar language. Our actual results may differ significantly from those
projected in the forward-looking statements. Factors that might cause or
contribute to such differences include, but are not limited to, those discussed
in the sections "Business", "Risk Factors" and "Management's Discussion and
Analysis of Financial Condition and Results of Operations". You should carefully
review other documents we file from time to time with the
Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements.
All references in this Form 10-Q to the "Company", "Yinfu", "we", "us" or "our"
are to
Our unaudited financial statements are stated in
Overview
We have had limited operations and based upon our reliance on the sale of our common stock and the advances from our president, there are no assurances of any future source of funds for our operations.
Plan of Operation
We devote substantial efforts to enter into new-emerging application industries of Internet Technology, Artificial Intelligence (AI) and the Internet of Things (IOT). However, our planned principal operations have not yet commenced.
18 Table of Contents
Need for
The Company has not generated any revenues from operations, and may be unable to fund on-going activities. We cannot guarantee that we will be successful in our business operations. Our business is subject to risks inherent in the establishment of a new business enterprise, including limited capital resources, possible delays in developing our own hardware and software, and the possibility of new regulations that will make our company difficult or impossible to operate.
If we are unable to meet our needs for cash from either our operations, or possible alternative sources, then we may be unable to continue, develop, or expand our operations.
If we are unable to complete any phase of our development program or fail to raise additional capital to maintain our operations in the future, we may be unable to carry out our full business plan or we may be forced to cease operations.
Results of Operations
We have generated no revenues and have incurred
The following table provides selected financial data about our company as of
June 30, March 31, 2021 2021 Cash$ 430 $ 300 Total Assets$ 65,456 $ 81,630 Total Liabilities$ 2,132,747 $ 2,024,936
Stockholders' Equity (Deficit)
As of
19 Table of Contents
As of
Three Months Three Months Ended Ended June 30, June 30, 2021 2020 Fluctuation % Revenue $ - $ - Operating Expenses: General and administrative 103,292 39,132 64,160 164 % Professional fees 8,264 3,000 5,264 175 % Total Operating Expenses 111,556 42,132 69,424 165 % Loss from Operations$ (111,556 ) $ (42,132 ) (69,424 ) 165 % Revenues
The Company has generated no revenues during the three months ended
Operating expenses
For the three months ended
20 Table of Contents
Liquidity and Capital Resources
Working Capital As of As of June 30, March 31, 2021 2021 Current Assets$ 2,938 $ 1,995 Current Liabilities$ 2,132,747 $ 2,024,936 Working Capital Deficiency$ (2,129,809 ) $ (2,022,941 )
As of
Cash Flows Three Months Three Months Ended EndedJune 30 ,June 30, 2021 2020
Cash Flows Used in Operating Activities
- $ -
Cash Flows Provided by Financing Activities
1 $ (101 ) Net Decrease in Cash During Period $ 130$ 4,313
Cash Flows Used in Operating Activities
During the three months ended
During the three months ended
Cash Flows Provided by Investing Activities
During the three months ended
Cash Flows Provided by Financing Activities
During the three months ended
During the three months ended
Off-Balance Sheet Arrangements
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 is material to investors.
21 Table of Contents
© Edgar Online, source