The following discussion and analysis should be read in conjunction with, and is
qualified in its entirety by, our financial statements (and notes related
thereto) and other more detailed financial information appearing elsewhere in
this Quarterly Report on Form 10-Q. Consequently, you should read the following
discussion and analysis of our financial condition and results of operations
together with such financial statements and other financial data included
elsewhere in this Quarterly Report on Form 10-Q. Some of the information
contained in this discussion and analysis are set forth elsewhere in this
prospectus, including information with respect to our plans and strategy for our
business, includes forward-looking statements that involve risks and
uncertainties. You should review the "Risk Factors" section of our Annual Report
on Form 10-K for a discussion of important factors that could cause actual
results to differ materially from the results described in or implied by the
forward-looking statements contained in the following discussion and analysis.
Statements in this section and elsewhere in this Form 10-Q that are not
statements of historical or current fact constitute "forward-looking"
statements.
OVERVIEW OF OUR PERFORMANCE AND OPERATIONS
Our Business and Recent Developments
Nine Alliance Science & Technology Group ("Nine Alliance", "We", or the
"Company") was incorporated in the State of Nevada on September 12, 2014, under
the name Paramount Supply Inc. The Company then known as Paramount Supply Inc.
last filed a financial report with the SEC on August 25, 2017. On September 29,
2017, our name was changed to Nine Alliance Science & Technology Group. On
August 27, 2020, a motion and application was made to appoint a Custodian of the
Company based on prior management abandoning its responsibilities to continue
making filings at the Nevada Secretary of State's office and for failing to hold
a shareholders' meeting in over 3 years and otherwise failing to keep current in
its obligations to the Company. Upon motion and application to the District
Court, Clark County Nevada, the Court granted the request for Custodian for the
Company ("Custodian"). Upon granting the motion, the Court issued an Order
acknowledging that the Custodian has performed all of the duties that had been
required of it and the management of the Company will revert exclusively to the
officers and directors appointed by the Custodian. In the Revival of the
Company, Investment Reserves Series, as the Custodian of the Company, appointed
Joseph Passalaqua as CEO, CFO and Secretary.
The Company is a "blank check company," as that term is defined in Rule
419(a)(2) of Regulation C of the Securities Act of 1933, as amended. We have not
had preliminary contact or discussions with, nor do we have any present plans,
proposals, arrangements, or understandings with, any representatives of the
owners of any business or company regarding the possibility of an acquisition or
merger. We are a "shell company" within the meaning of Rule 405, promulgated
pursuant to Securities Act, because we do have no hard assets and real business
operations.
From inception until the date of this filing we have had limited operating
activities, primarily consisting of the incorporation of our company and the
initial equity funding by our sole officer and director. We received our initial
funding of $4,000 from a previous sole officer and director at that time who
purchased 4,000,000 shares of common stock at $0.001 per share. Our independent
auditor has issued an audit opinion for our Company which includes a statement
expressing substantial doubt as to our ability to continue as a going concern.
Previous business operations of the Company generated limited revenues and the
Company currently has no business operations.
No revenue has been generated in the last two years ended September 30, 2020 and
September 30, 2021.
On June 2, 2021, we voluntarily filed a termination of our registration
statement on Form 15-15D pursuant to Rule 15d-6 and our termination becomes
effective 90 days thereafter. The Company has since been seeking a merger
target and has been evaluating various opportunities.
We never sold any securities under the offering statement, so there was no need
to keep the prospectus and Form S-1 filing current.
13
The Company filed a Registration Statement; Form-10-12g on June 16, 2021 and was
effective 60 days post filing.
We are subject to the requirements of Regulation 13A under the Exchange Act,
which require us to file annual reports on Form 10-K, quarterly reports on Form
10-Q and current reports on Form 8-K, and we are required to comply with all
other obligations of the Exchange Act applicable to issuers filing registration
statements pursuant to Section 12(g) of the Exchange Act.
We are not currently engaged in any business operations. We are, however, in the
process of attempting to identify, locate, and if warranted, acquire new
commercial opportunities. The Company is currently attempting to locate and
negotiate with eligible portfolio companies to acquire an interest in them. In
addition to acquiring an interest in them, the Company intends to assist these
portfolio companies with raising capital and offer them substantial managerial
assistance needed to succeed.
The authorized capital stock of Nine Alliance Science & Technology Group
consists of 290,000,000 shares of Common Stock, $0.0001 par value per share (the
"Common Stock") and 10,000,000 shares of Preferred Stock, $0.0001 par value per
share (the "Preferred").
As of our previous year ended September 30, 2021, there were 75,000,000 shares
of Common Stock issued and outstanding and no shares of Preferred Stock issued
and outstanding. As of the six months ended March 31, 2022, there were
225,000,000 shares of Common Stock issued and outstanding and no shares of
Preferred Stock issued and outstanding.
Our Business
The Company is currently attempting to locate and negotiate with eligible
portfolio companies to acquire an interest in them. In addition to acquiring an
interest in them, the Company intends to assist these portfolio companies with
raising capital and offer them substantial managerial assistance needed to
succeed.
We are currently considered a shell company Rule 405 defines a shell company as
a company with 1) no or nominal operations, and either 2)no or nominal assets,
3) assets consisting solely of cash and cash equivalents, or 4) assets
consisting of any amount of cash and cash equivalents and nominal other assets.
We will remain classified as a shell company until we qualify for an exemption
pursuant to Rule 144 (i)(2) by meeting the following requirements: Nine Alliance
Science & Technology Group is no longer a shell company and has not been one for
a year, it mandatorily files reports with the SEC, it has filed all required
reports during the past 12 months, and it has been over a year since the current
Form 10 information was filed. Security holders will not be able to rely on Rule
144 for the resale of restricted and/or control securities as long as JMKJ
remains classified as a shell corporation.
Our current business address is: 7325 Oswego Road, Liverpool, NY 13090 .
Our telephone number is (315) 451-7515.
This location serves as our primary office for planning and implementing our
business plan. Management believes the current premises arrangements are
sufficient for its needs for at least the next 12 months.
Employees
We have no employees.
14
Results of Operations for the Three Months Ended March 31, 2022 and March 31,
2021
Revenues
We have generated revenues of $0 and $0 for the three months ended March 31,
2022 and March 31, 2021.
Operating and Administrative Expenses
Operating expenses for the three months ended March 31, 2022 were $4,922
compared with $4,782 for the three months ended March 31, 2021. The increase in
operating expenses were attributable to a increase in general and administrative
expenses of $373, from $625 for the three months March 31, 2021 to $998 for the
three months ended March 31, 2022 and included a decrease of professional fees
of $233, from $4,782 for the three months ended March 31, 2021 to $3,924 for the
three months ended March 31, 2022.
Loss from Operations
Operating Loss before income tax for the three months ended March 31, 2022 was
$(4,922), an increase of $140 for the comparable period of March 31, 2021, of
which the loss from operations was $(4,782). This increase was primarily
attributable to General and Administrative fees, that included EDGAR/XBRL
formatting for filings and Stock Transfer fees.
Net loss
The Net loss for the three months ended March 31, 2022 was $(4,922), compared to
a Net loss of $(4,782) for the three months ended March 31, 2021. This increase
was primarily attributable to general and administrative fees, that included
EDGAR/XBRL formatting for filings and Stock Transfer fees. The net loss in 2021
was primarily attributable to an increase in general and administrative fees
from operations.
Results of Operations for the Six Months Ended March 31, 2022 and March 31, 2021
Revenues
We have generated revenues of $0 and $0 for the six months ended March 31, 2022
and March 31, 2021.
Operating and Administrative Expenses
Operating expenses for the six months ended March 31, 2022 were $9,367 compared
with $8,139 for the six months ended March 31, 2021. The increase in operating
expenses were attributable to an increase in general and administrative expenses
of $2,324, from $970 for the six months March 31, 2021 to $3,294 for the six
months ended March 31, 2022 and included a decrease of professional fees of
$1,096, from $7,169 for the six months ended March 31, 2021 to $6,073 for the
six months ended March 31, 2022.
Loss from Operations
Operating Loss before income tax for the six months ended March 31, 2022 was
$(9,367), an increase of $1,228 for the comparable period of March 31, 2021, of
which the loss from operations was $(9,139). This increase was primarily
attributable to General and Administrative fees, that included EDGAR/XBRL
formatting for filings and Stock Transfer fees.
Net loss
The Net loss for the six months ended March 31, 2022 was $(9,367), compared to a
Net loss of $(8,139) for the six months ended March 31, 2021. This increase was
primarily attributable to general and administrative fees, that included
EDGAR/XBRL formatting for filings and Stock Transfer fees. The net loss in 2021
was primarily attributable to an increase in general and administrative fees
from operations.
15
Liquidity and Capital Resources
As of the year ended September 30, 2021 and the six months ended March 31, 2022,
the Company's total assets were $0.
As of the last year ended, September 30, 2021, the Company had total liabilities
of $34,293 that consisted of $6,857 in Accounts Payable, $25,143 in Accounts
Payable owed to Related Parties; Joseph Passalaqua and Lyboldt-Daly Inc., of
which Joseph Passalaqua is the sole officer and $2,303 in Income Tax Payable.
These amounts are non-interest bearing, payable upon demand and unsecured.
As of the six months ended March 31, 2022, the Company had total liabilities of
$14,966 that consisted of $7,628 in Accounts Payable, $5,035 in Accounts Payable
owed to Related Parties; Joseph Passalaqua and Lyboldt-Daly Inc., of which
Joseph Passalaqua is the sole officer and $2,303 in Income Tax Payable. The
decrease in amounts in Accounts Payable owed to Related Parties in the six
months ended March 31, 2022, was due to an conversion of debt in the amount of
28,694, in exchange for an issuance of 150,000,000 shares of common stock on
December 7, 2021. These amounts are non-interest bearing, payable upon demand
and unsecured.
As of the last year ended September 30, 2021, the Company has a working capital
deficit of $34,293,
As of the six months ended March 31, 2022, the Company has a working capital
deficit of $14,966.
Working Capital and Cash Flows
Working Capital March 31, September 31,
2022 2021
Current Assets $ - $ -
Current Liabilities 14,966 34,,293
Working Capital (Deficit) $ (14,966 ) $ 34,293© Edgar Online, source Glimpses
CORETAG, INC. 
