Plan of Operation
Our plan of operations is to raise debt and/or equity to meet our ongoing
operating expenses. During the period
There can be no assurance that we will successfully complete the noted acquisitions. In particular, there is no assurance that these acquisitions will close, since no material definitive agreements have been agreed to containing comprehensive terms and conditions. These acquisitions, along with any other mergers or business combinations contemplated and completed by us, can be expected to have a significant dilutive effect on the percentage of shares held by our current stockholders.
At this time, we have no cash on hand or committed resources of debt or equity to fund operating losses, and will be reliant, potentially, on advances from our principal shareholder, director and officer.
We continue to seek, investigate and, if such investigation warrants, acquire, merge with, or engage in business combinations in business opportunities presented to us by persons or firms. We will not restrict our search to any specific business, industry or geographical location, and we may participate in business ventures of virtually any nature. This discussion of our proposed business is purposefully general and is not meant to be restrictive of our virtually unlimited discretion to search for and enter into potential business opportunities.
We may seek a business acquisition, merger or combination with entities which have recently commenced operations, or that desire to develop a new product or service, or for other corporate purposes. We may acquire assets and establish wholly owned subsidiaries in various businesses or acquire existing businesses as subsidiaries.
We expect that the selection of a business acquisition, merger or combination will be complex and risky. Potentially, available business opportunities may occur in many different industries and at various stages of development, all of which will make the task of comparative investigation and analysis of such business opportunities extremely difficult and complex. We have, and will continue to have, essentially no assets to provide the owners of business opportunities.
The analysis of new business opportunities will be undertaken by, or under the supervision of, our director. We intend to concentrate on identifying preliminary prospective business opportunities which may be brought to our attention through present associations of our director, professional advisors or by our stockholders. In analyzing prospective business opportunities, we will consider such matters as (i) available technical, financial and managerial resources; (ii) working capital and other financial requirements; (iii) history of operations, if any, and prospects for the future; (iv) nature of present and expected competition; (v) quality, experience and depth of management services; (vi) potential for further research, development or exploration; (vii) specific risk factors not now foreseeable but that may be anticipated to impact the proposed activities of the company; (viii) potential for growth or expansion; (ix) potential for profit; (x) public recognition and acceptance of products, services or trades; (xi) name identification; and (xii) other factors that we consider relevant. As part of our investigation of any business opportunity, we expect to meet personally with management and key personnel. To the extent possible, we intend to utilize written reports and personal investigation to evaluate the above factors.
We will not acquire or merge with any company for which audited financial statements cannot be obtained within a reasonable period of time after closing of the proposed transaction.
12
RESULTS OF OPERATIONS FOR THE THREE MONTHS ENDED
Revenue
We recognized no revenue during the three-month periods ended
General and Administrative Expenses
During the three months ended
Other Income (Expense)
During the three months ended
Net Income (Loss)
During the three months ended
RESULTS OF OPERATIONS FOR THE NINE MONTHS ENDED
Revenue
We recognized no revenue during the nine-month periods ended
General and Administrative Expenses
During the nine months ended
Other Income (Expense)
During the nine months ended
Net Income (Loss)
During the nine months ended
13
LIQUIDITY AND CAPITAL RESOURCES
At
Consequently, we are now dependent on raising additional equity and/or debt to meet our ongoing operating expenses. There is no assurance that we will be able to raise the necessary equity and/or debt that we will need to fund our ongoing operating expenses.
It is our current intention to seek to raise debt and, or, equity financing to
meet ongoing operating expenses, and in order to facilitate the completion of
our acquisitions of
As a result of these, among other factors, we received from our registered
independent public accountants in their report for the financial statements for
the years ended
Our primary sources (uses) of cash for the nine months endedJanuary 31, 2020 and 2019 were as follows: Nine months ended Nine months endedJanuary 31, 2020 January 31, 2019
- - Net Cash from Financing Activities 226,381 6,130 Net Change in Cash and Cash Equivalents $ - $ (1,564 ) 14 Operating Activities
During the nine months ended
Investing Activities
We used no funds in investing activities during the nine months ended
Financing Activities
During the nine months ended
By comparison, we received
We are dependent upon the receipt of capital investment or other financing to fund our ongoing operations and to execute our business plan of seeking a combination with a private operating company. In addition, we are dependent upon our controlling shareholder and director to provide continued funding and capital resources. If continued funding and capital resources are unavailable at reasonable terms, we may not be able to implement our plan of operations.
Off-Balance Sheet Arrangements
The Company does not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on the Company's financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.
Contractual Obligations
None
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