DESCRIPTION OF BUSINESS
General
Bigeon is a Nevada corporation that is developing a new kind of messenger
application. The product of the Company ("the App") is intended to provide an
entirely new way of sharing information. The App enables a user to draw a
picture or a writing instead of typing the whole message.
Corporate Organization
Our registered address is Manesova 345/13 Ceske Budejovice 6, Ceske Budejovice,
Czech Republic, 370 01. Our telephone number is +13212366052.
Our Product
Bigeon is now developing an innovative type of a messenger application with
availability of graphic input. Many of our competitors offer various solutions
for messaging applications but none of them is anyhow related with graphics. Our
company will provide prospective users with advanced graphic features including
any combinations of colors, variable line width, backgrounds, filling, spraying
and many others.
Regulation
We are subject to various federal, state and international laws and regulations
that affect companies conducting business on the Internet and mobile platforms,
including those relating to privacy, use and protection of user personal
information and data (including the collection of data from minors), the
Internet, mobile applications, content, advertising and marketing activities and
anti-corruption. Presently, we do not believe that any such legislation or
proposed legislation will have a materially adverse impact on our business.
Employees
We have no employees other than our director and President, Mr. Olegas
Tunevicius. There is no formal employment agreement between Mr. Tunevicius and
the Company.
Legal Proceedings
We are not involved in certain legal claims or proceedings, nor have we ever
been.
RESULTS OF OPERATIONS
Three months ended April 30, 2022, compared to April 30, 2021
Revenues
During the three months ended April 30, 2022, and 2021, we have not received any
revenues.
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Operating expenses
Total operating expenses for the three months ended April 30, 2022 were $13,886
compared to $13,729 for the three months ended April 30, 2021. Our operating
expenses consisted of general and administrative costs $11,401 (April 30, 2021 -
$11,400), professional fees $2,416 (April 30, 2021 - $2,227) and rent expense
$69 (April 30, 2020 - $102).
Net Losses
The net loss for the fiscal quarter ended April 30, 2022, was $13,886, compared
to $13,729 for the three months ended April 30, 2021.
Nine months ended April 30, 2022, compared to April 30, 2021
Revenues
During the nine months ended April 30, 2022, and 2021, we have not received any
revenues.
Operating expenses
Total operating expenses for the nine months ended April 30, 2022 were $47,935
compared to $32,439 for the nine months ended April 30, 2021. Our operating
expenses consisted of general and administrative costs $34,261 (April 30, 2021 -
$134), professional fees $13,433 (April 30, 2021 - $32,001) and rent expense
$241 (April 30, 2021 - $304). Expenses increased in the nine months ended April
30, 2022 primarily due to the recognition of salary and wage expense.
Net Losses
The net loss for the nine months ended April 30, 2022, was $47,935, compared to
$32,439 for the nine months ended April 30, 2021, due to the factors discussed
above.
Liquidity and Capital Resources
As of April 30, 2022, our total assets were $16,251 comprised of cash $118,
prepaid expenses $133 and intangible assets of $16,000. Our total liabilities
were $122,931 comprised of a loan from our director and payroll liabilities. As
of July 31, 2021, our total assets were $849 comprised of cash $124, prepaid
rent $104 and prepaid expenses $621. Our total liabilities were $59,594
comprised of a loan from our director and payroll liabilities.
Shareholders' deficit has increased from $58,745 as of July 31, 2021 to $106,680
as of April 30, 2022.
The Company has accumulated a deficit of $127,811 as of April 30, 2022, compared
to $79,876 as of July 31, 2021, and further losses are anticipated in the
development of its business. Accordingly, there is substantial doubt about the
Company's ability to continue as a going concern.
Net cash flows used in operating activities for the nine months ended April 30,
2022, were $13,143.
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Net cash flows from investing activities for the nine months ended April 30,
2022, were $16,000.
Net cash flows provided by financial activities for the nine months
ended April 30, 2022, were $29,137.
Off-Balance Sheet Arrangements
As of April 30, 2022, we did not have any off-balance sheet arrangements that
have or are reasonably likely to have a material current or future effect on our
financial condition, changes in financial condition, revenues or expenses,
results of operations liquidity, capital expenditures or capital resources.
Limited Operating History and Need for Additional Capital
There is no historical financial information about us upon which to base an
evaluation of our performance. We are in start-up stage operations and have
generated limited revenues. Our business is subject to risks inherent in the
establishment of a new business enterprise, including limited capital resources
and possible cost overruns due to price and cost increases in services and
products.
We have no assurance that future financing will be available to us on acceptable
terms. If financing is not available on satisfactory terms, we may be unable to
continue, develop or expand our operations. Equity financing could result in
additional dilution to existing shareholders.
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