73 unchanged sentences
costs related to:
−Removed: filing Exchange Act reports, and
−Removed: investigating, analyzing and consummating an acquisition.
+Added: (i) filing Exchange Act reports,
+Added: (ii) investigating, analyzing and
+Added: consummating an acquisition.
We believe we will be able to meet these costs
2 unchanged sentences
such funds will be advanced or that the Company will be able to secure any additional funding as needed.
−Removed: As of June 30, 2023, the Company
−Removed: had cash of $2,663.
−Removed: On December 10, 2021, in connection with advances made in connection with costs incurred by the Company, the Company
−Removed: issued a promissory note to Mark Tompkins, a stockholder and director of the Company, pursuant to which the Company agreed to repay Mr.
+Added: As of September 30, 2023, the
+Added: Company had cash of $1,785.
+Added: On December 10, 2021, in connection with advances made in connection with costs incurred by the Company, the
+Added: Company issued a promissory note to Mark Tompkins, a stockholder and director of the Company, pursuant to which the Company agreed to
Tompkins the sum of any and all amounts that Mr.
−Removed: Tompkins may advance to the Company on or before the date that the Company consummates
−Removed: a business combination with a private company or reverse takeover transaction or other transaction after which the Company would cease
−Removed: to be a shell company (as defined in Rule 12b-2 under the Exchange Act).
−Removed: The Company has used the proceeds from the note to cover its
−Removed: Tompkins has no obligation to advance funds to the Company under the terms of the note, it is anticipated that
−Removed: he may advance funds to the Company as fees and expenses are incurred in the future.
−Removed: As a result, the Company issued the note in anticipation
−Removed: of such advances.
−Removed: Interest shall not accrue on the outstanding principal amount of the note except if an Event of Default (as defined
−Removed: in the note) has occurred.
−Removed: In the event of an Event of Default, the entire note shall automatically become due and payable (the “Default
−Removed: Date”) and starting from five (5) days after the Default Date, the interest rate on the note shall accrue at the rate of eighteen
−Removed: percent (18%) per annum.
−Removed: As of June 30, 2023, the total amount due under the note was $79,525.
−Removed: The note is filed herewith as Exhibit 10.1.
−Removed: Except as disclosed herein, we currently have no other agreements or specific arrangements in place with our stockholders, management
−Removed: or other investors.
+Added: Tompkins may advance to the Company on or before the date that the Company
+Added: consummates a business combination with a private company or reverse takeover transaction or other transaction after which the Company
+Added: would cease to be a shell company (as defined in Rule 12b-2 under the Exchange Act).
+Added: The Company has used the proceeds from the note to
+Added: cover its expenses.
+Added: Tompkins has no obligation to advance funds to the Company under the terms of the note, it is anticipated
+Added: that he may advance funds to the Company as fees and expenses are incurred in the future.
+Added: As a result, the Company issued the note in
+Added: anticipation of such advances.
+Added: Interest shall not accrue on the outstanding principal amount of the note except if an Event of Default
+Added: (as defined in the note) has occurred.
+Added: In the event of an Event of Default, the entire note shall automatically become due and payable
+Added: (the “Default Date”) and starting from five (5) days after the Default Date, the interest rate on the note shall accrue at
+Added: the rate of eighteen percent (18%) per annum.
+Added: As of September 30, 2023, the total amount due under the note was $89,525.
+Added: The note is filed
+Added: herewith as Exhibit 10.1.
+Added: Except as disclosed herein, we currently have no other agreements or specific arrangements in place with our
+Added: stockholders, management or other investors.
Our ability to continue as a going concern is
6 unchanged sentences
assurance of additional funding being available.
−Removed: The Company, as of June 30, 2023, had $2,663 of
−Removed: cash and has not earned any revenues from operations to date.
+Added: The Company, as of September 30, 2023, had $1,785
+Added: of cash and has not earned any revenues from operations to date.
In the next 12 months, we expect to incur expenses equal to approximately
79 unchanged sentences
Liquidity and Capital Resources
−Removed: As of June 30, 2023, the Company had total assets
−Removed: equal to $2,663 comprised exclusively of cash.
−Removed: The Company’s current liabilities as of June 30, 2023 totaled $90,125 and was comprised
−Removed: of accounts payable and accrued expenses and amounts due under a note payable to a stockholder.
−Removed: The Company can provide no assurance that
−Removed: it can continue to satisfy its cash requirements for at least the next twelve months.
+Added: As of September 30, 2023, the Company had total
+Added: assets equal to $1,785 comprised exclusively of cash.
+Added: The Company’s current liabilities as of September 30, 2023 totaled $100,125
+Added: and was comprised of accounts payable and accrued expenses and amounts due under a note payable to a stockholder.
+Added: The Company can provide
+Added: no assurance that it can continue to satisfy its cash requirements for at least the next twelve months.
The following is a summary of the Company’s
cash flows provided by (used in) operating and financing activities:
−Removed: For the six months ended
+Added: For the Nine Months Ended
+Added: September 30,
Net Cash Used In Operating Activities
26 unchanged sentences
interest rate on the note shall accrue at the rate of eighteen percent (18%) per annum.
−Removed: As of June 30, 2023, the total amount due under
−Removed: the note was $79,525.
+Added: As of September 30, 2023, the total amount due
+Added: under the note was $89,525.
Results of Operations
2 unchanged sentences
No revenue has been generated by the Company for the
−Removed: six months ended June 30, 2023.
−Removed: It is unlikely the Company will have any revenues unless it is able to effect an acquisition or merger
−Removed: with an operating company, of which there can be no assurance.
−Removed: It is management’s assertion that these circumstances may hinder
−Removed: the Company’s ability to continue as a going concern.
−Removed: The Company’s plan of operation for the next twelve months shall be
−Removed: to continue its efforts to locate suitable acquisition candidates.
−Removed: For the three months ended June 30, 2023, and
−Removed: 2022, the Company had a net loss of $12,837 and $10,491, respectively, and for the six months ended June 30, 2023 and 2022, the Company
−Removed: had a net loss of $25,636 and $18,318 respectively , comprised of accounting, audit and other
−Removed: professional service fees incurred in relation to the preparation and filing of the Company’s SEC filings and general and administrative
+Added: nine months ended September 30, 2023.
+Added: It is unlikely the Company will have any revenues unless it is able to effect an acquisition or
+Added: merger with an operating company, of which there can be no assurance.
+Added: It is management’s assertion that these circumstances may
+Added: hinder the Company’s ability to continue as a going concern.
+Added: The Company’s plan of operation for the next twelve months shall
+Added: be to continue its efforts to locate suitable acquisition candidates.
+Added: For the three months ended September 30, 2023,
+Added: and 2022, the Company had a net loss of $10,878 and $20,418, respectively, and for the nine months ended September 30, 2023 and 2022,
+Added: the Company had a net loss of $36,514 and $38,736 respectively , comprised of accounting,
+Added: audit and other professional service fees incurred in relation to the preparation and filing of the Company’s SEC filings and general
+Added: and administrative expenses.
In the next 12 months, we expect to incur expenses
41 unchanged sentences
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.