Our presentation in this Management's Discussion and Analysis of Financial Condition and Results of Operations contains a number of forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These forward-looking statements are based on management's current projections or expectations with regard to the future operations of business. Such projections or expectations are expressed in good faith and believed to have a reasonable basis, but there can be no assurance that such projections or expectations will prove to be correct or accurate, and as a result of certain risks and uncertainties, actual results of operations may differ materially.





1    Revenue and Expenses

The Company has remained in an inactive and non-operating status since December 6, 2004. There was no active business operated and no revenue earned by the Company for the three months and nine months ended September 30, 2021 and 2020.

Total expenses for the three months and nine months ended September 30, 2021 were US$9,440 and US$30,342 against US$11,948 and US$34,224 for the same period last year. Expenses represent professional fees and miscellaneous administrative expenses in these periods.





2    Net Loss

Net loss for the three months and nine months ended September 30, 2021 was US$9,440 and US$30,342 against a net loss of US$11,948 and US$34,224 for the same periods last year.

3 Cashflows, Liquidity and Capital Resources

As of September 30, 2021 and December 31, 2020, the balance of cash and cash equivalents for the Company was nil. The Company has currently retained no sources of liquidity other than the private financing by cash inflows from the principal stockholder, which is unsecured and could be discontinued at any time.





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4    Plan of Operation

The Company has maintained its status as a non-operating shell company since December 6, 2004. The Company has been contemplating practical plans for a business restructuring and/or possible arrangements to raise capital funds to support its continuation as a going concern, but there can be no assurance that the Company will be successful in procuring such efforts.





5.     Going Concern

The Company has relied on the private financing from its principal shareholder and has been contemplating practical plans for a business restructuring and/or possible arrangements to raise additional capital funds to support its continuation as a going concern, but there can be no assurance that the Company will be successful in its efforts.

These uncertainties may result in adverse effects on continuation of the Company as a going concern. The accompanying financial statements do not include or reflect any adjustments that might result from the outcome of these uncertainties.

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