When used in this Annual Report, the words "may," "will," "expect," "anticipate," "continue," "estimate," "project," "intend," and similar expressions are intended to identify forward-looking statements within the meaning of Section 27a of the Securities Act and Section 21e of the Exchange Act regarding events, conditions, and financial trends that may affect our future plans of operations, business strategy, operating results, and financial position. Persons reviewing this Annual Report are cautioned that any forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties and actual results may differ materially from those included within the forward-looking statements as a result of various factors. Such factors are discussed further below under "Trends and Uncertainties," and also include general economic factors and conditions that may directly or indirectly impact our financial condition or results of operations.
Plan of Operation
Our plan of operation for the next 12 months is to: (i) consider guidelines of industries in which we may have an interest; (ii) adopt a business plan regarding engaging in the business of any selected industry; and (iii) to commence such operations through funding and/or the acquisition of a "going concern" engaged in any industry selected.
During the next 12 months, our only foreseeable cash requirements will relate to maintaining our good standing or the payment of expenses associated with legal fees, accounting fees and reviewing or investigating any potential business venture, which may be advanced by management or principal stockholders as loans to us. Because we have not determined any business or industry in which our operations will be commenced, and we have not identified any prospective venture as of the date of this Annual Report, it is impossible to predict the amount of any such loan. Any such loan will be on terms no less favorable to us than would be available from a commercial lender in an arm's length transaction. No advance or loan from any affiliate will be required to be repaid as a condition to any agreement with future acquisition partners.
12 Table of Content Results of Operations
Years Ended
Year Year Ended Ended March 31, March 31, 2020 2019 Changes Revenues $ - $ - $ - Operating Expenses$ 63,919 $ 210,998 $ (147,079 ) Other Expenses $ -$ 8,503 $ (8,503 ) Net Loss$ (63,919 ) $ (219,501 ) $ 155,582
We had no operations during the years ended
Other expenses during years ended
Liquidity and Capital Resources
As of As of March 31, March 31, 2020 2019 Changes Current Assets $ -$ 7,000 $ (7,000 ) Current Liabilities$ 563,197 $ 506,278 $ 56,919 Working Capital (Deficiency)$ (563,197 ) $ (499,278 ) $ (63,919 )
As of
As of
Stockholders' deficit was at
We had no cash on hand as of
As of
Year Year Ended Ended March 31, March 31, 2020 2019 Changes
Net cash used in operating activities
13 Table of Content
Cash Flow from Operating Activities
We have not generated any positive cash flow from operating activities. For the
year ended
For the year ended
Cash Flow from Financing Activities
We have financed our operations primarily from advances and loans from related parties.
For the year ended
During the year ended
During the year ended
Going Concern
Our independent auditors have added an explanatory paragraph to their audit
issued in connection with the financial statements for the period ended
The Company is dependent on advances from its principal shareholders or other affiliated parties for continued funding. There are no commitments or guarantees from any third party to provide such funding nor is there any guarantee that the Company will be able to access the funding it requires to continue its operations.
Off-Balance Sheet Arrangements
We do not have 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 that is material to an investor in our securities.
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