SPECIAL NOTE OF CAUTION REGARDING FORWARD-LOOKING STATEMENTS
CERTAIN STATEMENTS IN THIS REPORT, INCLUDING STATEMENTS IN THE FOLLOWING
DISCUSSION, ARE WHAT ARE KNOWN AS "FORWARD LOOKING STATEMENTS", WHICH ARE
BASICALLY STATEMENTS ABOUT THE FUTURE. FOR THAT REASON, THESE STATEMENTS INVOLVE
RISK AND UNCERTAINTY SINCE NO ONE CAN ACCURATELY PREDICT THE FUTURE. WORDS SUCH
AS "PLANS," "INTENDS," "WILL," "HOPES," "SEEKS," "ANTICIPATES," "EXPECTS "AND
THE LIKE OFTEN IDENTIFY SUCH FORWARD LOOKING STATEMENTS, BUT ARE NOT THE ONLY
INDICATION THAT A STATEMENT IS A FORWARD LOOKING STATEMENT. SUCH FORWARD LOOKING
STATEMENTS INCLUDE STATEMENTS CONCERNING OUR PLANS AND OBJECTIVES WITH RESPECT
TO THE PRESENT AND FUTURE OPERATIONS OF THE COMPANY, AND STATEMENTS WHICH
EXPRESS OR IMPLY THAT SUCH PRESENT AND FUTURE OPERATIONS WILL OR MAY PRODUCE
REVENUES, INCOME OR PROFITS. NUMEROUS FACTORS AND FUTURE EVENTS COULD CAUSE THE
COMPANY TO CHANGE SUCH PLANS AND OBJECTIVES OR FAIL TO SUCCESSFULLY IMPLEMENT
SUCH PLANS OR ACHIEVE SUCH OBJECTIVES, OR CAUSE SUCH PRESENT AND FUTURE
OPERATIONS TO FAIL TO PRODUCE REVENUES, INCOME OR PROFITS. THEREFORE, THE READER
IS ADVISED THAT THE FOLLOWING DISCUSSION SHOULD BE CONSIDERED IN LIGHT OF THE
DISCUSSION OF RISKS AND OTHER FACTORS CONTAINED IN THIS REPORT ON FORM 10-K AND
IN THE COMPANY'S OTHER FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION. NO
STATEMENTS CONTAINED IN THE FOLLOWING DISCUSSION SHOULD BE CONSTRUED AS A
GUARANTEE OR ASSURANCE OF FUTURE PERFORMANCE OR FUTURE RESULTS.
5
Background
The Company was incorporated in August 21, 2013, to engage in the business of
eBook publishing, but its business operations in the area of eBook publishing
were nominal. Following a change of control which occurred in February 29, 2016,
the Company discontinued its eBook publishing operations and elected to become
an investment holding company and to provide management and consulting services
to Trendmaker Pte, Ltd, a Singapore entity whose subsidiaries include Phyto
Science Sdn Bhd (a Malaysia entity), and Phytoscience Trendmaker Pvt Ltd (an
Indian entity). Although the Company identified its intended future business
activities, during the fiscal year ended July 31, 2021, it did not commence
active business operations.
Results of Operations
Company management does not believe that a meaningful analysis can be made of
the Company's results of operation for the fiscal year ended July 31, 2021 as
compared to the fiscal year ended July 31, 2020. During both periods, its
operations have been nominal and, following a change of control in February 29,
2016, the Company elected to terminate its previous business plan to engage in
eBook publishing, and adopt a new business plan relating to acting as an
investment holding company and providing management and consulting services.
Operating expenses consisting of professional fees and general and
administrative expenses, were substantially the same of the two periods ($36,342
for the fiscal year ended July 31, 2020, as compared to $38,290 for the fiscal
year ended July 31, 2021). Revenue for the period ended July 31, 2021 and 2020
were $0 and $0 respectively.
Going Concern
As of July 31, 2021, the Company has an accumulated deficit of $803,606 and a
stockholders' equity of $22,914 and had a net loss of $38,290. This raises
substantial doubt about its ability to continue as a going concern. The ability
of the Company to continue as a going concern is dependent on the Company's
ability to raise additional capital and implement its business plan. The
financial statements do not include any adjustments that might be necessary if
the Company is unable to continue as a going concern. Management is taking
various steps to provide the Company with the opportunity to continue as a going
concern.
Liquidity and Capital Resources
Our cash balance at July 31, 2021 was $0 with $225,742 in outstanding
liabilities. Total expenditures over the next 12 months are expected to be
approximately $50,000. If we experience a shortage of funds prior to generating
revenues from operations we may utilize funds from our directors, who have
informally agreed to advance funds to allow us to pay for operating costs,
however they have no formal commitment, arrangement or legal obligation to
advance or loan funds to us. Management believes our current cash balance will
not be sufficient to fund our operations for the next six months.
Off Balance Sheet Arrangements
The Company does not have any off-balance sheet arrangements.
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