Plan of Operations
Our strategy is to identify companies in industries that compliments the expertise of our management team, Board of Directors, and partners. Our management's track record provides a highly attractive opportunity for prospective targets looking for proven value, liquidity, and capital procurement.
The Company is focused on becoming a global acquisitions-based company targeting high tech industries, and financial services.
The Company's current plan of operations for the twelve months ending
Our ability to implement the phases of our business plan was dependent on us
obtaining the significant financing for these projects, which we were unable to
secure during the year ending
6 Table of Contents
Results from Operations - For the years ended
Operating results for the years endedApril 30, 2019 , and 2020 are summarized as follows: Years Ended April 30, 2019 2020 Revenue $ - $ - Operating expenses 120,031 205,411 Other income (expense) - 615,000 Net operating gain (loss)$ (120,031 ) $ (409,589 )
Our net operating loss increased
We recorded net income of
Liquidity and Capital Resources
As of
The Company expects significant capital expenditures during the next 12 months,
contingent upon raising additional capital. We anticipate that we will need a
minimum of
The source of such capital is uncertain, and there is no assurance that the Company will be successful in obtaining such capital on commercially reasonable terms, or at all. We have a working capital deficit and will need cash infusions from investors and/or current shareholders to deploy our current business plan and joint venture.
To implement our business plan, we will need to continue to raise working
capital in the form of equity in an amount up to
At this time, management is unable to determine the specific amounts and terms of such future financings, or whether or not we will be successful in raising such funds on a basis acceptable to us.
In order to finance the operations of the Company during the twelve months
ending
Cash Flow Years EndedApril 30, 2019 2020
Net cash provided (used) in operating activities
- -
Net cash provided (used) by financing activities 5,050 1,250 Net increase (decrease) in cash
$ 5,019 $ (4,161 )
Cash used in operating activities for years ended
7 Table of Contents Going Concern
Management believes that our current financial condition, liquidity, and capital resources will not satisfy our cash requirements for the next twelve months to deploy our current business plan, and as such we will need to either raise additional proceeds through financing facilities, sales of securities and our officers and directors will need to make additional financial commitments to our Company, neither of which is guaranteed. We plan to satisfy our future cash requirements, primarily the working capital required to execute on our current business and fund our necessary operating expenses, through financial commitments from future debt facilities and equity sales, if and when possible.
We do not have any revenues or current operations to secure any revenues. Our
ability to survive is dependent upon outside capital, and we have not located
any suitable forms of financing for our company for the long term. We had no
committed source for funds as of
It will be necessary to raise working capital funds through equity and debt financing facilities, which are extremely difficult for a developmental stage company to secure and may not be available to us or on a basis favorable to us. However, if such debt financing is available, we would likely have to pay additional costs associated with high-risk loans and be subject to above market interest rates.
The Company and has accumulated a deficit of
Critical Accounting Policies
Our consolidated financial statements have been prepared in accordance with
accounting principles generally accepted in
Capital Expenditures
We have not incurred any material capital expenditures.
Off-Balance Sheet Arrangements
We have not entered into 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 and would be considered material to investors.
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