What changed in this filing

/stocks — the workspaceLOADING

Item 8. Financial Statements and Supplementary Data

2021-11-29 compared with 2020-09-16 · 317 added, 192 removed, 12 unchanged (98% of the section changed)

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

Report of Independent Registered Public Accounting Firm

Balance Sheets as of August 31, 2020 and August 31, 2019

Statements of Operations for the years ended August 31, 2020 and August 31, 2019

Statements of Changes in Stockholders Equity (deficit) for years ended August 31, 2020 and August 31, 2019.

Statements of Cash Flows for the years ended August 31, 2020 and August 31, 2019

Notes to the Financial Statements

PLS CPA, A PROFESSIONAL CORP.

t 4725 MERCURY STREET #210 t SAN DIEGO t CALIFORNIA 92111 t

t TELEPHONE (858)722-5953 t FAX (858) 761-0341 t FAX (858) 764-5480

t E-MAIL changgpark@gmail.com t

HOLDINGS INC.

THE FISCAL YEARS ENDED AUGUST 31, 2021 AND AUGUST 31, 2020

HOLDINGS INC.

THE FISCAL YEARS ENDED AUGUST 31, 2021 AND AUGUST 31, 2020

Report of Independent Registered Public Accounting Firm

To the Board of Directors and Stockholders

Unex Holdings, Inc., Inc.

Opinion on the Financial Statements

We have audited the accompanying balance sheets of Unex Holdings, Inc (the Company) as of August 31, 2020 and 2019, the related statements of operations, changes in shareholders' deficit, and cash flows for the years then ended and the related notes to the financial statements (collectively, the financial statements).

In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of August 31, 2020 and 2019, and the results of its operations and its cash flows for the years ended August 31, 2020 and 2019, in conformity with accounting principles generally accepted in the United States of America.

Going Concern The accompanying financial statements have been prepared assuming that the Company will continue as a going concern.

As discussed in Note 2 to the financial statements, the Company has not generated any revenue and further losses are anticipated.

The Company requires additional funds to meet its obligations and its operations.

These factors raise substantial doubt about the Companys ability to continue as a going concern.

Managements plans in this regard are described in Note 2.

The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Basis for Opinion These financial statements are the responsibility of the Companys management.

Our responsibility is to express an opinion on the Companys financial statements based on our audits.

We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with U.S.

federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB.

Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting.

As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting.

Sheets as of August 31, 2021 and August 31, 2020

of Operations for the years ended August 31, 2021 and August 31, 2020

Statements of Changes in Stockholders’

Deficit for the years ended August 31, 2021 and August 31, 2020

of Cash Flows for the years ended August 31, 2021 and August 31, 2020

to the Financial Statements

OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

the Board of Directors and Stockholders of UNEX HOLDINGS INC.:

on the Financial Statements

have audited the accompanying balance sheets of Unex Holdings Inc.

(“the Company”) as of August 31, 2021 and August 31, 2020,

and the related statements of operations, stockholders’

equity, and cash flows for the years then ended, and

the related notes (collectively referred to as the “financial statements”).

In our opinion, the financial statements present

fairly, in all material respects, the financial positions of the Company as of August 31, 2021 and August 31, 2020, and the results of

its operations and its cash flows for the years then ended, in conformity with accounting principles generally accepted in the United

concern uncertainty

accompanying financial statements have been prepared assuming that the Company will continue as a going concern.

As discussed in Note

2 to the financial statements, the Company has not yet established an ongoing source of revenue sufficient to cover its operating expenses

and allow it to continue as a going concern.

The Company has accumulated loss since inception which raise substantial doubt about its

ability to continue as a going concern.

Management’s plans in regard to these matters are also described in Note 2.

The financial

statements do not include any adjustments that might result from the outcome of this uncertainty.

financial statements are the responsibility of the Company’s management.

Our responsibility is to express an opinion on the Company’s

financial statements based on our audit.

We are a public accounting firm registered with the Public Company Accounting Oversight Board

(United States) (“PCAOB”) and are required to be independent with respect to the Company in accordance with the U.S.

securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

conducted our audit in accordance with the standards of the PCAOB.

Those standards require that we plan and perform the audit to obtain

reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting.

As part of our audit

we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion

on the effectiveness of the Company’s internal control over financial reporting.

Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks.

Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.

Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that our audits provide a reasonable basis for our opinion.

____________________

PLS CPA, A Professional Corp.

We have served as the Companys auditor since 2018.

September 16, 2020

San Diego, CA.

UNEX HOLDINGS INC.

BALANCE SHEETS

AUGUST 31, 2020

AUGUST 31, 2019

audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or

fraud, and performing procedures that respond to those risks.

Such procedures included examining, on a test basis, evidence regarding

the amounts and disclosures in the financial statements.

Our audit also included evaluating the accounting principles used and significant

estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that our audit provides

a reasonable basis for our opinion.

Company has significant transactions with related parties, which are described in Note 6 to the financial statements.

Transactions involving

related parties cannot be presumed to be carried out on an arm’s length basis, as the requisite conditions of competitive, free

market dealings may not exist.

Audit Alliance LLP

have served as the Company’s auditor since 2021.

Current Assets

Subscription receivable

Total current assets

Non-Current Assets

Equipment net of depreciation

Total non-current assets

LIABILITIES AND STOCKHOLDERS EQUITY

AND STOCKHOLDERS’

due to related parties

Current Liabilities

Loan from related parties

Stock refund payable

Accounts payable

Total current liabilities

Total Liabilities

Stockholders Equity

Common stock, $0.001 par value, 75,000,000 shares authorized:

Stockholders’

stock, $0.001 par value, 75,000,000 shares authorized;

2,970,000 shares issued and outstanding

Additional Paid-In-Capital

Accumulated Deficit

Total Stockholders Equity

Total Liabilities and Stockholders Equity

The accompanying notes are an integral part of these audited financial statements.

UNEX HOLDINGS INC.

STATEMENTS OF OPERATIONS

Year ended August 31, 2020

Year ended August 31, 2019

Paid-In-Capital

Stockholders’

Liabilities and Stockholders’

accompanying notes are an integral part of these audited financial statements

of Operations

Ended August 31,

of goods sold

and administrative expenses

operating expenses

General and administrative expenses

Loss before provision for income taxes

Provision for income taxes

from continuing operations before income taxes

for income taxes

and diluted loss per common share

Weighted-average

number of common shares outstanding:

accompanying footnotes are an integral part of these financial statements.

OF SHAREHOLDERS’

Stockholder’s

at September 1, 2019

issued at $0.03

received from common stock subscriptions

at August 31, 2020

at August 31, 2021

accompanying footnotes are an integral part of these financial statements.

OF CASH FLOWS

ended August 31,

FLOWS FROM OPERATING ACTIVITIES

to reconcile net loss to net cash used in operating activities:

and asset written off

in operating assets and liabilities:

cash used in Operating Activities

FLOWS FROM FINANCING ACTIVITIES

proceeds from stock subscriptions

from a related party

cash provided by Financing Activities

changes in cash and cash equivalents

and cash equivalents, beginning of year

and cash equivalents, end of year $

Cash Flow Disclosures

paid for interest

paid for income taxes

Investing and Financing Activity:

accompanying footnotes are an integral part of these consolidated financial statements.

TO FINANCIAL STATEMENTS

organization and business operations

HOLDINGS INC.

(the “Company”) is a corporation established under the corporation laws in the State of Nevada on February

The Company has adopted an August 31 fiscal year end.

Company is a development stage company and intends to provide geodesy services.

GOING CONCERN

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.

The Company has yet to

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

The 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

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

of Presentation

accompanying audited financial statements as of August 31, 2021 and August 31, 2020 have been prepared in accordance with accounting

principles generally accepted in the United States of America (“GAAP”).

In the opinion of management, such financial information

includes all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation of the Company’s

financial position at such date and the operating results and cash flows for such periods.

Operating results for the twelve months ended

August 31, 2021 are not necessarily indicative of the results that may be expected for any subsequent interim period or for the next

Company has adopted an August 31 fiscal year-end.

preparation of the audited financial statements in conformity with GAAP requires management to make estimates and assumptions that affect

the reported amounts of assets, liabilities, expenses and disclosure of contingent liabilities at the date of the financial statements.

The Company bases its estimates and assumptions on historical experience, known or expected trends and various other assumptions that

it believes to be reasonable.

As future events and their effects cannot be determined with precision, actual results could differ from

the estimates that may cause the Company’s future results to be affected.

and Cash Equivalents

Company considers all highly liquid short-term instruments that are purchased with an original maturity of three months or less to be

cash equivalents.

The Company did not have any cash equivalents as of August 31, 2021.

and Equipment

and equipment are stated at cost and depreciated on the straight-line method over the estimated life of the asset, which is 3 years.

Subscriptions Receivable

subscriptions are recorded as contra-equity on the day the subscription agreement is signed and accepted by the Company.

All stock subscribed

as of the date of these financial statements has been fully paid.

Loss per Common Share

Basic and Diluted

Weighted Average Number of Common Shares Outstanding:

Basic and Diluted

The accompanying notes are an integral part of these audited financial statements.

UNEX HOLDINGS INC.

STATEMENT OF CHANGES IN STOCKHOLDERS EQUITY

FOR THE YEARS ENDED AUGUST 31, 2019 AND TO AUGUST 31, 2020

Additional Paid-in-Capital

Balances as of August 31, 2018

Shares issued at $0.03

Balances as of August 31, 2019

Shares issued at $0.03

Shares canceled

Balance as of August 31, 2020

The accompanying notes are an integral part of these audited financial statements.

UNEX HOLDINGS INC.

STATEMENTS OF CASH FLOWS

Year ended August 31, 2020

Year ended August 31, 2019

Cash flows from Operating Activities

Amortization expenses

Subscription Receivable

Accounts payable

Net cash used in operating activities

Cash flow from Investing Activities

Purchase of equipment

Net cash used by investing activities

Cash flow from financing Activities

Proceeds from sale of common stock

Proceeds of loan from shareholder

Net cash provided financing activities

Net increase (decrease) in cash and equivalents

Cash at beginning of the period

Cash at end of the period

Supplemental cash flow information:

Cash paid for:

S upplemental disclosure of non-cash investing and financing information:

Repurchase of common stock for refund payable

The accompanying notes are an integral part of these audited financial statements.

UNEX HOLDINGS INC.

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED AUGUST 31, 2020 AND 2019

NOTE 1 ORGANIZATION AND BUSINESS

UNEX HOLDINGS INC.

(the Company) is a corporation established under the corporation laws in the State of Nevada on February 17, 2017.

The Company has adopted the August 31 fiscal year- end.

The Company is a development stage company and intends to provide geodesy services.

NOTE 2 GOING CONCERN

The Companys financial statements as of August 31, 2020, is prepared using generally accepted accounting principles in the United States of America applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business.

The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern.

The Company has accumulated loss from inception (February 17, 2017) to August 31, 2020 of $31,081.

These factors among others raise substantial doubt about the ability of the company to continue as a going concern for a reasonable period of time.

In order to continue as a going concern, the Company will need, among other things, additional capital resources.

The managements plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking third party equity and/or debt financing.

However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans.

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 concern.

NOTE 3 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America.

Use of Estimates

Preparing financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses.

Actual results and outcomes may differ from managements estimates and assumptions.

Advertising Costs

The Companys policy regarding advertising is to expense advertising when incurred.

The Company did not incur advertising expenses during the period ended August 31, 2020.

Stock-Based Compensation

As of AUGUST 31, 2020, the Company has not issued any stock-based payments to its employees.

Stock-based compensation is accounted for at fair value in accordance with ASC 718, when applicable.

To date, the Company has not adopted a stock option plan and has not granted any stock options.

The Company follows the liability method of accounting for income taxes.

Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences).

A valuation allowance related to a deferred tax asset is recorded when it is more likely than not that some portion of the deferred tax asset will not be realized.

The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

Property and Equipment Depreciation Policy

Property and equipment are stated at cost and depreciated on the straight-line method over the estimated life of the asset, which is 3 years.

New Accounting Pronouncements

There were various accounting standards and interpretations issued recently, none of which are expected to have a material impact on our financial position, operations, or cash flows.

Start-Up Costs

In accordance with ASC 824, Start-up Costs, the company expenses all costs incurred in connection with the start-up and organization of the company.

Fair Value Measurements

The company adopted the provisions of ASC Topic 820, Fair Value Measurements and Disclosures, which defines fair value as used in numerous accounting pronouncements, establishes a framework for measuring fair value and expands disclosure of fair value measurements.

The estimated fair value of certain financial instruments, including cash and cash equivalents are carried at a historical cost basis, which approximates their fair values because of the short-term nature of these instruments.

ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date.

ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.

ASC 820 describes nine levels of inputs that may be used to measure fair value:

Level 1 quoted prices in active markets for identical assets or liabilities

Level 2 quoted prices for similar assets and liabilities in active markets or inputs that are observable

Level 3 inputs that are unobservable (for example cash flow modeling inputs based on assumptions)

The company has no assets or liabilities valued at fair value on a recurring basis.

NOTE 4 FIXED ASSETS

On September 24, 2018, the company purchased a computer for $950.

For the years ended August 31, 2020 and 2019, the Company recognized $317 and $290 in depreciation expense, respectively.

The Company depreciates this asset over a period of thirty-nine (36) months which has been deemed its useful life.

NOTE 5 STOCKHOLDERS EQUITY

The Company has 75,000,000 shares of common stock authorized with a par value of $0.001 per share.

For the year ended August 31, 2020, the Company issued 65,000 common stock at $0.03 per share for the total proceeds of $1,950.

For the year ended August 31, 2020, the Company canceled 65,000 of its common stock and accrued a stock refund payable of $1,950.

As of August 31, 2020 and 2019, the Company had 2,970,000 and 2,970,000 shares issued and outstanding, respectively.

NOTE 6 RELATED PARTY TRANSACTIONS

In support of the Companys efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of its equity or traditional debt financing.

There is no formal written commitment for continued support by officers, directors, or shareholders.

Amounts represent advances or amounts paid in satisfaction of liabilities.

loss per common share is computed by dividing net loss by the weighted average common shares outstanding during the period as defined

by Financial Accounting Standards, ASC Topic 260, “Earnings per Share.”

Basic earnings per common share (“EPS”)

calculations are determined by dividing net loss by the weighted average number of shares of common stock outstanding during the year.

Diluted earnings per common share calculations are determined by dividing net income by the weighted average number of common shares

and dilutive common share equivalents outstanding.

Company accounts for income taxes pursuant to the provisions of ASC 740-10, “Accounting for Income Taxes,”

which requires,

among other things, an asset and liability approach to calculating deferred income taxes.

The asset and liability approach require the

recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying

amounts and the tax bases of assets and liabilities

valuation allowance is provided to offset any net deferred tax assets for which management believes it is more likely than not that the

net deferred asset will not be realized.

Company follows the provisions of the ASC 740 -10 related to, Accounting for Uncertain Income Tax Positions.

When tax returns are filed,

it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject

to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained.

In accordance

with the guidance of ASC 740-10, the benefit of a tax position is recognized in the financial statements in the period during which,

based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination,

including the resolution of appeals or litigation processes, if any.

Tax positions taken are not offset or aggregated with other positions.

Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more

than 50 percent likely of being realized upon settlement with the applicable taxing authority.

The portion of the benefits associated

with tax positions taken that exceeds the amount measured as described above should be reflected as a liability for uncertain tax benefits

in the accompanying balance sheet along with any associated interest and penalties that would be payable to the taxing authorities upon

The Company believes its tax positions will be highly certain of being upheld upon examination.

As such, the Company has

not recorded a liability for uncertain tax benefits.

Company has adopted ASC 740-10-25 Definition of Settlement, which provides guidance on how an entity should determine whether a tax position

is effectively settled for the purpose of recognizing previously unrecognized tax benefits and provides that a tax position can be effectively

settled upon the completion of an examination by a taxing authority without being legally extinguished.

For tax positions considered

effectively settled, an entity would recognize the full amount of tax benefit, even if the tax position is not considered more likely

than not to be sustained based solely on the basis of its technical merits and the statute of limitations remains open.

Value Measurements

Company adopted the provisions of ASC Topic 820, “Fair Value Measurements and Disclosures”, which defines fair value as used

in numerous accounting pronouncements, establishes a framework for measuring fair value and expands disclosure of fair value measurements.

estimated fair value of certain financial instruments, including cash and cash equivalents are carried at historical cost basis, which

approximates their fair values because of the short-term nature of these instruments.

820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the

principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement

ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize

the use of unobservable inputs when measuring fair value.

ASC 820 describes three levels of inputs that may be used to measure fair value:

quoted prices in active markets for identical assets or liabilities

quoted prices for similar assets and liabilities in active markets or inputs that are observable

inputs that are unobservable (for example cash flow modeling inputs based on assumptions)

Company has no assets or liabilities valued at fair value on a recurring basis.

Accounting Pronouncements

for rules and interpretive releases of the SEC under the authority of federal securities laws and a limited number of grandfathered standards,

the FASB Accounting Standards Codification™

(“ASC”) is the sole source of authoritative GAAP literature recognized

by the FASB and applicable to the Company.

Management has reviewed the aforementioned rules and releases and believes any effect will

not have a material impact on the Company’s present or future financial statements.

December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740), which enhances and simplifies various aspects of the income tax

accounting guidance, including requirements such as tax basis step-up in goodwill obtained in a transaction that is not a business combination,

ownership changes in investments, and interim-period accounting for enacted changes in tax law.

The amendment will be effective for public

companies with fiscal years beginning after December 15, 2020;

early adoption is permitted.

The Company is evaluating the impact of this

amendment on its financial statements.

February 2020, the FASB issued ASU 2020-02, Financial Instruments-Credit Losses (Topic 326) and Leases (Topic 842) - Amendments to SEC

Paragraphs Pursuant to SEC Staff Accounting Bulletin No.

119 and Update to SEC Section on Effective Date Related to Accounting Standards

2016-02, Leases (Topic 842), which amends the effective date of the original pronouncement for smaller reporting companies.

ASU 2016-13 and its amendments will be effective for the Company for interim and annual periods in fiscal years beginning after December

The Company believes the adoption will modify the way the Company analyzes financial instruments, but it does not anticipate

a material impact on results of operations.

The Company is in the process of determining the effects adoption will have on its financial

September 24, 2018, the Company purchased a computer for $950.

For the years ended August 31, 2021 and 2020, the Company recognized $158

and $317 in depreciation expense, respectively.

The Company depreciates this asset over a period of thirty-six (36) months which has

been deemed its useful life.

February 28, 2021, the Company wrote off the computer based on the terms of the Agreement (defined hereunder) disclosed in Note 7 wherein

Veniamin Minkov warranted that on the Effective Date (defined hereunder) the Company will have no assets and no debt of any kind including

no outstanding tax liabilities and that all existing contracts entered into by the Company shall be cancelled without liability.

5 - Stockholders’

Company has 75,000,000 shares of common stock authorized with a par value of $0.001 per share.

the year ended August 31, 2020, the Company cancelled 65,000 of its common stock and accrued a stock payable of $1,950.

The Company wrote-off

stock payable of $1,950 based on the terms of the Agreement disclosed in Note 7 wherein Veniamin Minkov warranted that on the Effective

Date the Company will have no assets and no debt of any kind including no outstanding tax liabilities and that all existing contracts

entered into by the Company shall be cancelled without liability.

of August 31, 2021 and 2020, the Company had 2,970,000 shares and 2,970,000 shares issued and outstanding, respectively.

RELATED PARTY TRANSACTIONS

support of the Company’s efforts and cash requirements, it may rely on advances from related parties until such time that the Company

can support its operations or attains adequate financing through sales of its equity or traditional debt financing.

There is no formal

written commitment for continued support by officers, directors, or shareholders.

Amounts represent advances or amounts paid in satisfaction

of liabilities.

The advances are considered temporary in nature and have not been formalized by a promissory note.

Since February 17, 2017 (Inception) through August 31, 2020, the Companys sole officer and director loaned the Company $9,217 to pay for incorporation costs and operating expenses.

The loan is non-interest bearing, due upon demand and unsecured.

On August 31, 2020, the Company had a net operating loss carryforward of $31,081, which begins to expire in the fiscal year ending August 31, 2020.

Components of net deferred tax asset, including a valuation allowance, are as follows on August 31, 2020 and August 31, 2019:

Deferred tax asset:

AUGUST 31, 2020

AUGUST 31, 2019

Net operating loss carryforward

Total deferred tax asset

Valuation allowance

Net deferred tax asset

The valuation allowance for deferred tax assets as of August 31, 2020 was $6,527.

In assessing the recovery of the deferred tax asset, management considers whether it is more likely than not that some or all of the deferred tax asset will not be realized.

The realization of the deferred tax assets is dependent upon the generation of future taxable income in the periods in which those temporary differences become deductible.

Management considers scheduled reversals of future deferred tax assets, projected future taxable income, and tax planning strategies in making this assessment.

As a result, management determined it was more likely than not that our deferred tax asset will not be realized and recorded a 100% valuation allowance for the period.

Reconciliation between statutory rate and the effective tax rate for the periods ending August 31, 2020 and 2019:

AUGUST 31, 2020

AUGUST 31, 2019

Federal statutory rate

State taxes, net of federal benefit

Change in valuation allowance

Effective tax rate

February 17, 2017 (Inception) through February 28, 2021, the Company’s sole officer and director loaned the Company $11,567 to

pay for incorporation costs and operating expenses.

The loan is unsecured, non-interest bearing and repayable on demand.

Minkov, confirmed to the Board of Directors (“Board”) of the Company to forgive the loan extended by him to the Company amounting

The Company wrote off cash balance of $40 and carrying amount of a fixed asset of $185 against a loan from related party

The balance of the loan from related party and stock payable of $1,950 amounting to $13,292 were written off against additional

paid-in capital.

addition, based on the terms of the Agreement disclosed in Note 7 wherein Veniamin Minkov warranted that on the Effective Date the Company

will have no assets and no debt of any kind including no outstanding tax liabilities and that all existing contracts entered into by

the Company shall be cancelled without liability.

During the year ended August 31, 2021, a company

related to Dr Low Wai Koon, the Company’s new sole officer and director, has paid fees on behalf of the Company in view that the

Company has yet to open new bank account in the United States of America after Change of Control disclosed in Note 7 due to travel restrictions

imposed as a result of Covid-19 pandemic.

The amount due to related parties were provided as unsecured obligations.

The funds were used

to pay audit and professional fees on behalf of the Company.

The obligations bear no interest, have no fixed term and are not evidenced

by any written agreement.

As of August 31, 2021, the balance in due to related party is $44,134.

CHANGE OF CONTROL

to the terms of the Securities Purchase Agreement dated February 26, 2021, by and among Veniamin Minkov, the former sole officer, director,

and majority stockholder of the Company and Low Wai Koon (the “Agreement”), effective February 26, 2021 (the “Effective

Time”), Veniamin Minkov, the then sole executive officer and director of the Company and the owner of 2,000,000 restricted shares

of the Company’s common stock representing 67.34% of the Company’s issued and outstanding common stock (“Unex Shares”),

sold the Unex Shares to Low Wai Koon for an aggregate consideration of $340,000, or approximately $0.17 per share.

In addition, certain

stockholders purchased 966,000 shares of the Company’s common stock in a series of private transactions for $0.05176 a share from

non-affiliates of the Company (the “Non-Affiliate Shares”).

Upon completion of the purchase of the Unex Shares, Low Wai Koon

owned 2,000,000 shares, or approximately 67.34% of the issued and outstanding common stock of the Company, which resulted in a change

of control of the Company.

Upon completion of the Non-Affiliate Shares, certain stockholders owned 966,000 shares or approximately 32.53%

of the issued and outstanding common stock of the Company.

connection with the Agreement, on February 26, 2021, Veniamin Minkov resigned as the President, Treasurer, and Secretary of the Company

and Chairman of the Board of the “Company.

Minkov’s resignation as President, Treasurer, and Secretary of the Company

and Chairman of the Board was effective immediately.

Minkov’s resignation as a director became effective on March 4, 2021.

Minkov’s resignation, he appointed Low Wai Koon as the Company’s director and Chairman of the Board, Chief Executive

Officer, Chief Financial Officer, President, Secretary and Treasurer, of the Company.

accordance with the terms of the Agreement, Veniamin Minkov warranted that on the Effective Date the Company will have no assets and

no debt of any kind including no outstanding tax liabilities and that all existing contracts entered into by the Company shall be cancelled

without liability.

Company has no tax provision for any period presented due to our history of operating losses.

the event an ownership change, Section 382 imposes an annual limitation on the amount of taxable income we may offset with U.S.

This annual limitation is generally equal to the product of the value of our shares on the date of the ownership change multiplied by

the long-term tax-exempt rate in effect on the date of the ownership change.

The long-term tax-exempt rate is published monthly by the

Internal Revenue Service.

Any unused Section 382 annual limitation may be carried over to later years until the applicable expiration

date for the respective U.S.

of August 31, 2021, the Company had estimated net operating loss carryforwards of approximately $0.1 million.

The ownership change (refer

to Note 7), as defined under Section 382, our ability to utilize our U.S.

NOLs would become substantially limited.

Future tax benefits

which may arise as a result of these losses have not been recognized in these financial statements, as management has determined that

their realization is not likely to occur and accordingly, the Company has recorded a valuation allowance for the full value of the deferred

tax asset relating to these tax losses carry forwards.

Additionally, the Company has not filed tax returns;

accordingly the potential

realizability of this loss in future periods is indeterminable.

SUBSEQUENT EVENTS

The Company has evaluated all events that occurred after the balance sheet date of August 31, 2020 through the date these financial statements were issued and determined that there were the following subsequent events.

accordance with FASB ASC 855-10 Subsequent Events, the Company has analyzed its operations subsequent to August 31, 2021 to the date

these financial statements were issued, and has determined that it does not have any material subsequent events to disclose in these

consolidated financial statements.

CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

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 8. Financial Statements and Supplementary Data