The following discussion and analysis of our financial condition and results of
operations should be read in conjunction with our unaudited condensed financial
statements and related notes included in this Quarterly Report on Form 10-Q and
the audited financial statements and notes thereto as of and for the year ended
Forward-Looking Statements
The information in this discussion contains forward-looking statements and
information within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the securities Exchange Act of 1934, as amended,
(the "Exchange Act"), which are subject to the "safe harbor" created by those
sections. The words "anticipated," "believes," "estimates," "expects,"
"intends," "may," "plans," "projects," "will," "should," "could," "predicts,"
potential," continue," "would," and similar expressions are intended to identify
forward-looking statements, although not all forward-looking statements contain
these identifying words. We may not actually achieve the plans, intentions, or
expectations disclosed in our forward-looking statements that we make. The
forward-looking statements are applicable only as of the date on which they are
made, and we do not assume any obligation to update any forward-looking
statements. All forward-looking statements in this Form 10-Q are made based on
our current expectations, forecasts, estimates and assumptions, and involve
risks, uncertainties and other factors that could cause results or events to
differ materially from those expressed in the forward-looking statements. In
evaluating these statements, you should specifically consider various factors,
uncertainties and risks that could affect our future results or operations.
These factors, uncertainties and risks may cause our actual results to differ
materially from any forward-looking statement set forth in this quarterly report
on Form 10-
Overview Business Development
Ajia was incorporated in the
The Company had intended to provide a website and mobile app to assist event
planners in locating performers, bands and speakers, booking locations and
planning events in areas around
In
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Ajia has only limited cash on hand. We have sustained losses since inception and have relied solely upon the sale of our securities and loans from our corporate officer and director for funding.
Ajia has never declared bankruptcy, been in receivership, or involved in any kind of legal proceeding. Ajia, its director, officer, and affiliates have not and do not intend to enter into negotiations or discussions with representatives or owners of any other businesses or companies regarding the possibility of an acquisition or merger. The Company has no promoters.
In
Business Plan
In
On
On
1. Big Data Strategic enterprise solution, 2. Cloud and digital trading solution, 3. Combined enterprise syndication planning and solution, and 4. E-compliance system and enterprise solutions.
Principal Products, Services and Their Markets
In last year, our business plan consisted of the sales and licensing of our
point of sales system for food and beverage products also sometimes referred to
as a catering integration system, which we offer in
5 Table of Contents
Competitive Business Conditions and Strategy; Position in the Industry
Ajia intends to establish itself as a competitive company in the point of sale
technology market. Ajia's main competitors are firms offering similar
technologies and services. Our largest competitors are Multiable and
Patents, Trademarks, Licenses, Agreements or Contracts
As part of our business, we will seek to protect our intellectual property rights in various ways, including through trademarks, copyrights, trade secrets, including know-how, patents, patent applications, employee and third-party nondisclosure agreements, intellectual property licenses and other contractual rights. At this time, however, there are no aspects of our business plan which require a patent, trademark, or product license. We have not entered into any vendor agreements or contracts that give or could give rise to any obligations or concessions.
Governmental Controls, Approval and Licensing Requirements
At this stage in our business, we are unaware of any government regulations that are directly affecting our business, however, as we grow our business activities may become subject to various governmental regulations in different countries in which we operate, including regulations relating to: various business/investment approvals; trade affairs, including customs, import and export control; competition and antitrust; anti-bribery; advertising and promotion; intellectual property; consumer and business taxation; foreign exchange controls; personal information protection; labor; human rights; conflict; occupational health and safety; environmental; and recycling requirements.
Research and Development Activities and Costs
We have spent no time on specialized research and development activities, and have no plans to undertake any research or development in the future.
Number of Employees
The Company has no significant employees other than our officers and directors
and one employee
Plan of Operation
Ajia is in the course of development and thus, it does not have significant size
of businesses to generate revenue. Our executive offices are located at
Results of Operations
Comparison for the Three Months Ended
Revenues
During the three months ended
6 Table of Contents Operating Expenses
The Company's operating expenses for the three months ended
Net Loss
During the three months ended
Comparison for the Nine Months Ended
Revenues
During the nine months ended
Operating Expenses
The Company's operating expenses for the nine months ended
Net Loss
During the nine months ended
Liquidity and Capital Resources
At
We will require additional funds to fully implement our plans. These funds may
be raised through equity financing, debt financing, or other sources, which may
result in the dilution in the equity ownership of our shares. We currently do
not have any arrangements for additional financing and we may not be able to
obtain financing when required. Our future is dependent upon our ability to
obtain financing, a successful marketing and promotion program and, further in
the future, achieving a profitable level of operations. The issuance of
additional equity securities by us could result in a significant dilution in the
equity interests of our current stockholders. Obtaining commercial loans,
assuming those loans would be available, will increase our liabilities and
future cash commitments. We will require additional funds to maintain our
reporting status with the
Going Concern
We have incurred net loss since our inception on
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Recently Issued Accounting Pronouncements
See Note 3 to our unaudited condensed consolidated financial statements, included in Part I, Item 1, Financial Information for this quarterly report on Form 10-Q.
Critical Accounting Policies
Our discussion and analysis of our financial condition and results of operations
are based on our consolidated condensed financial statements, which have been
prepared in accordance with GAAP. The preparation of our consolidated condensed
financial statements requires us to make estimates and judgements that affect
the reported amounts of assets, liabilities, revenue, expenses and related
disclosure of contingent assets and liabilities. On an ongoing basis, we
evaluate our estimates, including those related to areas that require a
significant level of judgment or are otherwise subject to an inherent degree of
uncertainty. Significant accounting estimates in these financial statements
include but are not limited to accounting for depreciation and amortization,
current and deferred income taxes, deferred costs, accruals and contingencies,
carrying value of goodwill and intangible assets, collectability of notes
receivable, the fair value of common stock and the estimated fair value of stock
options and warrants. We base our estimates on historical experience, our
observance of trends in particular areas, and information or valuations and
various other assumptions that we believe to be reasonable under the
circumstances and which form the basis for making judgments about the carrying
value of assets and liabilities that may not be readily apparent from other
sources. Actual amounts could differ significantly from amounts previously
estimated. For a discussion of our critical accounting policies, refer to Part
I, item 7, "Management's Discussion and Analysis of Financial Condition and
Results of Operations" in our annual report on Form 10-K/A for the year ended
Off-Balance Sheet Arrangements
We are not currently a party to, or otherwise involved with, any off-balance sheet arrangements that have or are reasonably likely to have a current or future material effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources.
Contractual Obligations
We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.
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