What changed in this filing

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Item 5. Market for Registrant’s Common Equity

2021-11-29 compared with 2020-09-16 · 106 added, 55 removed, 6 unchanged (96% of the section changed)

MARKET FOR REGISTRANTS COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

MARKET INFORMATION

As of August 31, 2020, the 2,970,000 issued and outstanding shares of common stock were held by a total of 28 shareholders of record.

We have never paid or declared any dividends on our common stock and do not anticipate paying cash dividends in the foreseeable future.

SECURITIES AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLANS

We currently do not have any equity compensation plans.

MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

of November 18, 2021, the 2,970,000 issued and outstanding shares of common stock were held by a total of 7 shareholders of record.

have never paid or declared any dividends on our common stock and do not anticipate paying cash dividends in the foreseeable future.

AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLANS

currently do not have any equity compensation plans.

SELECTED FINANCIAL DATA

Not Applicable.

MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion should be read in conjunction with our financial statements, including the notes thereto, appearing elsewhere in this annual report.

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

following discussion should be read in conjunction with our financial statements, including the notes thereto, appearing elsewhere in

this annual report.

The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs.

Our actual results could differ materially from those discussed in the forward-looking statements.

Factors that could cause or contribute to such differences include but are not limited to those discussed below and elsewhere in this Annual Report.

Our audited financial statements are stated in United States Dollars and are prepared in accordance with United States Generally Accepted Accounting Principles.

RESULTS OF OPERATIONS

Year ended August 31, 2020 compared to year ended August 31, 2019

Operating Expenses

During year ended August 31, 2020, we incurred $14,364 general and administrative expenses compared to $15,703 during year ended August 31, 2019.

The expenses decreased due to reduction in professional and banking fees for the year ended August 31, 2020 General and administrative expenses incurred generally related to corporate overhead, financial and administrative contracted services, such as legal and accounting and developmental costs.

During year ended August 31, 2020, expenses are consisted of accounting fees of $10,750, legal fees of $949, transfer agent fees of $1,317, bank charges of $100, depreciation of $317 and other miscellaneous expenses of $931.

Our net loss for the year ended August 31, 2020 was $14,364 compared to net loss of $15,703 during year ended August 31, 2019.

LIQUIDITY AND CAPITAL RESOURCES

As of August 31, 2020

As of August 31, 2020 our total assets were $6,019 compared to $18,200 in total assets on August 31, 2019.

As of August 31, 2020 our total current liabilities were $11,400 compared to $9,217 in total liabilities on August 31, 2019.

Stockholders deficit was $5,381as of August 31, 2020 compared to Stockholders equity of $8,983 as of August 31, 2019.

Cash Flows from Operating Activities

For the year ended August 31, 2020, cash flows used by operating activities was $12,014 consisting of a net loss of $14,364, subscription receivable of $1,800, accounts payable of $233 and amortization of $317.

Net cash flows provided by operating activities was $17,213 for year ended August 31, 2019 consisting of a net loss of $15,703, subscription receivable of $1,800 and amortization of $290.

Cash flows from Investing Activities

For the year ended August 31, 2019, cash flow used in investing activities was $950 compared to $0 for the year ended August 31, 2020.

During the year ended August 31, 2019, the Company purchased computer equipment to make operations more efficient.

Cash Flows from Financing Activities

We have financed our operations primarily from either advancements or the issuance of equity instruments.

For the year ended August 31, 2020 net cash provided by financing activities was $1,950 received from proceeds from issuance of Common stock compared to $21,000 for the year August 31, 2019.

PLAN OF OPERATION AND FUNDING

We expect that working capital requirements will continue to be funded through a combination of our existing funds and further issuances of securities.

Our working capital requirements are expected to increase in line with the growth of our business.

Existing working capital, further advances and debt instruments, and anticipated cash flow are expected to be adequate to fund our operations over the next twelve months.

results could differ materially from those discussed in the forward looking statements.

Factors that could cause or contribute to such

differences include, but are not limited to those discussed below and elsewhere in this Annual Report.

Our audited consolidated financial

statements are stated in United States Dollars and are prepared in accordance with United States Generally Accepted Accounting Principles.

of Operations

following summary of our operations should be read in conjunction with our audited financial statements for the years ended August 31,

2021 and 2020, which are included herein.

and administrative expenses

recognized no revenues for the years ended August 31, 2021 and 2020.

margin is calculated by subtracting cost of sales from revenue.

Gross margin percentage is calculated by dividing gross margins by revenue.

did not record any cost of goods sold for either of the years ended August 31, 2021, and 2020.

As such, we did not realize any gross

margin for either of the years ended August 31, 2021 and 2020.

expenses totaled $61,545 for the year ended August 31, 2021, compared to $14,364 in operating expenses for the year ended August 31,

2020, or an increase of $47,181.

operating expenses are primarily comprised of professional fees or administrative

contracted services, such as legal and accounting, and other general and administrative costs.

The increase in operating expenses was due to an increase in professional services rendered in relation to our financial reporting and

other matters.

incurred a net loss from of $61,545, or $0.02 per share, for the year ended August 31, 2021, compared to a net loss of $14,364, or $0.00

per share, for the year ended August 31, 2020.

The increase in net loss was due to the increase in above operating expenses.

and Capital Resources

Capital Deficiency

flows used in operating activities

flows provided by financing activities

changes in cash

at August 31, 2021, our Company had no cash and assets.

at August 31, 2021, our Company had total liabilities of $53,634, which included accrued expenses $9,500 and amount due to related party

As at August 31, 2020, our Company had total liabilities of $11,400 which included convertible stock payable of $1,950 and amount

due to related party of $9,450.

at August 31, 2021, our Company had a working capital deficiency of $53,634 compared with a working capital deficiency of $5,724 as at

August 31, 2020.

The increase in working capital deficit was primarily due to an increase in amount due to related party.

Flow from Operating Activities

have not generated positive cash flow from operating activities.

During the year ended August 31, 2021, net cash used in operating activities

was $53,652 compared to $11,864 used during the year ended August 31, 2020.

Operating activities mainly consists of professional fees

(audit fees, legal fees, filing fees and transfer agent cost) and general and administrative expenses.

flows used in operating activities during the year ended August 31, 2021, comprised of a net loss of $61,545 which was reduced by non-cash

expenses of $343 for depreciation, $9,500 for accrued expense, and write-off of stock payable of $1,950.

flows used in operating activities during the year ended August 31, 2020, comprised of a net loss of $14,364, which was reduced by non-cash

expenses of $317 for depreciation , $1,950 for stock payable, and $233 for account payable.

increase in cash used in operating activities during the year ended August 31, 2021 was mainly due to increase in operating expenses.

Flow from Investing Activities

the years ended August 31, 2021 and 2020, our Company did not have any investing activities.

Flow from Financing Activities

the year ended August 31, 2021, our Company received $47,976 via advances from related party.

the year ended August 31, 2020, our Company received $1,800 from stock subscriptions.

The Company’s financial statements as

of August 31, 2021, are prepared using generally accepted accounting principles in the United States of America applicable as a going

concern, which contemplates the realization of assets and liquidation of liabilities in the ordinary course of business.

has yet to establish an ongoing source of revenue to finance its operating expenses and to continue operating as a going concern.

Company has accumulated loss from inception (February 17, 2017) to August 31, 2021 of $92,626.

These factors raised substantial doubt

about the ability of the Company to continue operating as a going concern for a reasonable period of time.

In order to continue operating as a going concern,

the Company is committed to work on procuring financial resources and develop business plans.

The Management plans to procure financial

resources from the Management and major shareholders to fund operating expenses as well as seeking third party equity and/or debt financing

to implement its business plans.

However, the Management is not able to provide any assurances that the Company will successfully executing

the plans in the near term.

These financial statements do not include any adjustments related to the recoverability and classification

of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going

of Operation and Funding

We expect that working capital

requirements will continue to be funded through further issuances of securities/ debt securities.

Our working capital requirements are

expected to increase in line with the growth of our business.

Existing working capital,

further advances and equity/ debt financing, the anticipated cash flow are expected to be adequate to finance our operations over the

next twelve months.

We have no lines of credit or other bank financing arrangements.

Generally, we have financed operations to date through the proceeds of the private placement of equity and debt instruments.

In connection with our business plan, management anticipates additional increases in operating expenses and capital expenditures relating to:

(i) developmental expenses associated with a start-up business and (ii) marketing expenses.

Generally, we have financed operations to date through

the proceeds of the private placement of equity and debt instruments.

In connection with our business plans, the Management anticipates

additional increases in operating expenses and capital expenditures relating to:

(i) developmental expenses associated with a start-up

business and (ii) marketing expenses.

We intend to finance these expenses with further issuances of securities, and debt issuances.

Thereafter, we expect we will need to raise additional capital and generate revenues to meet long-term operating requirements.

Additional issuances of equity or convertible debt securities will result in dilution to our current shareholders.

Further, such securities might have rights, preferences or privileges senior to our common stock.

we expect we will need to raise additional capital and generate revenues to meet long-term operating requirements.

Additional issuances

of equity or convertible debt securities will result in dilution to our current shareholders.

Further, such securities might have rights,

preferences or privileges senior to our common stock.

Additional financing may not be available upon acceptable terms, or at all.

If adequate funds are not available or are not available on acceptable terms, we may not be able to take advantage of prospective new business endeavors or opportunities, which could significantly and materially restrict our business operations.

MATERIAL COMMITMENTS

As of the date of this Annual Report, we do not have any material commitments.

PURCHASE OF SIGNIFICANT EQUIPMENT

We do not intend to purchase any significant equipment during the next twelve months.

OFF-BALANCE SHEET ARRANGEMENTS

As of the date of this Annual Report, 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 are material to investors.

GOING CONCERN

The independent auditors' report accompanying our August 31, 2020 and August 31, 2019 financial statements contain an explanatory paragraph expressing substantial doubt about our ability to continue as a going concern.

The financial statements have been prepared "assuming that we will continue as a going concern," which contemplates that we will realize our assets and satisfy our liabilities and commitments in the ordinary course of business.

These financial statements do not include any adjustments related to the recovery or classification of assets or the amounts and classifications of liabilities that might be necessary should the company be unable to continue as going concern.

adequate funds are not available or are not available on acceptable terms, we may not be able to take advantage of prospective new business

endeavors or opportunities, which could significantly and materially restrict our business operations.

of the date of this Annual Report, we do not have any material commitments.

Sheet Arrangements

of the date of this Annual Report, 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 are material to investors.

Accounting Pronouncements

has considered all recent accounting pronouncements issued.

Our Company’s management believes that these recent pronouncements

will not have a material effect on our financial statements.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not applicable.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 5. Market for Registrant’s Common Equity