The following discussion of our financial condition and results of operations
should be read in conjunction with our audited consolidated financial statements
and the notes to those financial statements appearing elsewhere in this Report.
Certain statements in this Report constitute forward-looking statements. These
forward-looking statements include statements, which involve risks and
uncertainties, regarding, among other things, (a) our projected sales,
profitability, and cash flows, (b) our growth strategy, (c) anticipated trends
in our industry, (d) our future financing plans, and (e) our anticipated needs
for, and use of, working capital. They are generally identifiable by use of the
words "may," "will," "should," "anticipate," "estimate," "plan," "potential,"
"project," "continuing," "ongoing," "expects," "management believes," "we
believe," "we intend," or the negative of these words or other variations on
these words or comparable terminology. In light of these risks and
uncertainties, there can be no assurance that the forward-looking statements
contained in this filing will in fact occur. You should not place undue reliance
on these forward-looking statements.
The forward-looking statements speak only as of the date on which they are made,
and, except to the extent required by federal securities laws, we undertake no
obligation to update any forward-looking statements to reflect events or
circumstances after the date on which the statements are made or to reflect the
occurrence of unanticipated events.
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Overview
Leader Hill Corporation is headquartered in Shenzhen, China and primarily
operates in the industry of business consulting. At present, the only service
that has been provided by the Company thus far, has been the research and
creation of a 'feasibility report'. All other additional services are
prospective, and have not, as of this point in time, been performed for any
clients yet. We believe that we have the capacity to offer any of the below
services immediately upon securing an agreement with a client. We assist, and
plan to continue to assist, start-up to mid-size companies in the East Asia
region, with a focus on mainland China and Hong Kong. Our core services are
divided into four categories: company formation, corporate secretarial and
administration, accounting and bookkeeping, and general business consulting
services.
As of November 30, 2019, and 2018, our accumulated deficits were $69,005 and
$47,082 respectively. Our stockholders' deficit was $33,498 and $11,711 as of
November 30, 2019 and 2018 respectively. We have so far generated $46,600 in
revenue and incurred a net loss of $21,923 for the fiscal year ended November
30, 2019. Our net losses were principally attributed to general and
administrative expenses.
Results of Operations
Revenue
For the year ended November 30, 2019, the Company has generated a revenue of
$46,600, from two customers each for $41,000 pertaining to business and
financial advisory services provided and $5,600 of company incorporation
services and accounting services respectively.
For the year ended November 30, 2018, the Company has generated a revenue of
$10,000 from providing business advisory services to single customer.
The management of the Company believe there are significant concentration on
customer for the two financial year ended November 30, 2019.
General and Administrative Expenses
For the year ended November 30, 2019, the Company has incurred a general and
administrative expenses of $68,523. Of which primarily consist of legal and
professional fees, transfer agent fees, audit and audit related fees, filing
agent fees and accrual of prepaid expenses related to website development.
For the year ended November 30, 2018, the Company has incurred a general and
administrative expenses of $40,474. Of which primarily consist legal and
professional fees, travelling and accommodation, audit fee, taxation service
fee, Edgar filing fee and stock storage and registrant fee.
Net Loss
The Company has incurred net loss of $21,923 and $30,473 for the year ended
November 30, 2019 and 2018 respectively. The net loss mainly derived from the
general and administrative expenses incurred.
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Liquidity and Capital Resources
Cash Used in/(Provided by) Operating Activities
For the year ended November 30, 2019, the Company has used $24,372 in operating
activities primarily caused by net loss from operating, accrual of prepaid
website development fee, realization of deferred revenue and recognition of
revenue previously categorized as customer deposit contra by the advances from
director for working capital purpose.
For the year ended November 30, 2018, the Company has used $9,952 in operating
activities caused by net loss from operating and significant prepayment for
website development fee contra by deferred revenue, other payable and account
receivable and advances from director for working capital purpose.
Cash Used In investing activities
The Company has not used nor received any cash from investing activity for the
year ended November 30, 2019.
The Company has invested $658 in equipment for the year ended November 30, 2018.
Cash Provided by Financing Activities
For the year ended November 30, 2019, the Company has not used nor being
provided with cash.
For the year ended November 30, 2018, the Company has received $37,000 from
financing activities, from proceeds from issuance of share through public
offering and subscription receivables.
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