1 unchanged sentence
FINANCIAL STATEMENTS
−Removed: November 30, 2020
+Added: February 28, 2021
BALANCE SHEETS
STATEMENTS OF OPERATIONS
−Removed: STATEMENT OF STOCKHOLDER’S (DEFICIT)
+Added: STATEMENT OF STOCKHOLDERS’ DEFICIT
STATEMENTS OF CASH FLOWS
3 unchanged sentences
TOTAL CURRENT ASSETS
−Removed: LIABILITIES AND STOCKHOLDER’S (DEFICIT)
+Added: LIABILITIES AND STOCKHOLDERS’ DEFICIT
CURRENT LIABILITIES
2 unchanged sentences
TOTAL CURRENT LIABILITIES
−Removed: COMMITMENTS AND CONTINGENCIES STOCKHOLDERS’ (DEFICIT)
+Added: COMMITMENTS AND CONTINGENCIES
+Added: STOCKHOLDERS’ DEFICIT
Authorized 200,000,000 shares of common stock, $0.001 par value, Issued and outstanding 64,900,000 shares of common stock (May 31, 2020 –64,900,000)
−Removed: Additional paid in capital
+Added: Addition paid in capital
Accumulated deficit
TOTAL STOCKHOLDERS’ DEFICIT
−Removed: TOTAL LIABILITIES AND STOCKHOLDER’S (DEFICIT)
+Added: TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT
The accompanying notes are an integral part of these financial statements.
8 unchanged sentences
STATEMENT OF STOCKHOLDER’S DEFICIT
−Removed: FOR THE SIX-MONTH ENDED FROM JUNE 1, 2020 TO NOVEMBER 30, 2020
+Added: FOR THE NINE-MONTH ENDED FROM JUNE 1, 2020 TO FEBRUARY 28, 2021
Balance, May 31, 2020
3 unchanged sentences
Balance, November 30, 2020 (unaudited)
+Added: Net loss for three-months ended February 28, 2021
+Added: Balance, February 28, 2021 (unaudited)
May 20, 2020, the Company approved a special resolution to undertake a forward split of the common stock of the Company on a basis of 50 new common shares for 1 old common share.
STATEMENT OF STOCKHOLDERS’ DEFICIT
−Removed: FOR THE SIX-MONTH PERIOD FROM JUNE 1, 2019 TO NOVEMBER 30, 2019
+Added: FOR THE NINE-MONTH PERIOD FROM JUNE 1, 2019 TO FEBRUARY 29, 2020
Number of shares
7 unchanged sentences
Net loss for three-month period ended November 30, 2019
−Removed: Balance, November 30, 2019 (unaudited)
+Added: Balance, November 30, 2019
+Added: Common shares sold
+Added: Net loss for three-month ended February 29, 2020
+Added: Balance, February 29, 2020 (unaudited)
May 20, 2020, the Company approved a special resolution to undertake a forward split of the common stock of the Company on a basis of 50 new common shares for 1 old common share.
The accompanying notes are an integral part of these financial statements.
−Removed: STATEMENTS OF CASH FLOWS
+Added: STATEMENT OF CASH FLOWS
CASH FLOWS FROM OPERATING ACTIVITIES
17 unchanged sentences
NOTES TO FINANCIAL STATEMENTS
−Removed: NOVEMBER 30, 2020 (Unaudited)
+Added: FEBRUARY 28, 2021 (Unaudited)
NOTE 1 – NATURE OF OPERATIONS AND BASIS OF PRESENTATION
4 unchanged sentences
To date the Company has generated no revenues from its business operations and has incurred operating losses since inception of $81,515.
−Removed: As at November 30, 2020, the Company has a working capital deficit of $50,326.
−Removed: The Company will require additional funding to meet its ongoing obligations and to fund anticipated operating losses.
+Added: As at February 28, 2021, the Company has a working capital deficit of $62,625.The Company will require additional funding to meet its ongoing obligations and to fund anticipated operating losses.
The ability of the Company to continue as a going concern is dependent on raising capital to fund its initial business plan and ultimately to attain profitable operations.
1 unchanged sentence
The Company intends to continue to fund its business by way of private placements and advances from related parties as may be required.
−Removed: As of November 30, 2020, the Company has issued 50,000,000 founders shares for net proceeds of $3,990 and 14,900,000 private placement shares for net proceeds of $14,900 to the Company.
−Removed: These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might result from this uncertainty.
+Added: As of February 28, 2021, the Company has issued 50,000,000 founders shares for net proceeds of $3,990 and 14,900,000 private placement shares for net proceeds of $14,900 to the Company.
+Added: These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amount or amounts and classification of liabilities that might result from this uncertainty.
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
1 unchanged sentence
The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles for financial information and with the instructions to Form 10-Q.
−Removed: They do not include all information and footnotes required by United States generally accepted accounting principles for complete financial statements.
−Removed: However, except as disclosed herein, there has been no material changes in the information disclosed in the notes to the financial statements for the fiscal year ended May 31, 2020 included in the Company’s year-end financial statements on Form 10-K filed with the Securities and Exchange Commission.
−Removed: The unaudited financial statements should be read in conjunction with those financial statements included in the Form 10-K.
+Added: They do not include all information and footnotes required by United States generally accepted accounting principles for complete financial statements.However, except as disclosed herein, there has been no material changes in the information disclosed in the notes to the financial statements for the fiscal year ended May 31, 2019 included in the Company’s year-end financial statements on Form 10-K filed with the Securities and Exchange Commission.The unaudited financial statements should be read in conjunction with those financial statements included in the Form 10-K.
In the opinion of Management, all adjustments considered necessary for a fair presentation, consisting solely of normal recurring adjustments, have been made.
−Removed: Operating results for the six-months ended November 30, 2020 are not necessarily indicative of the results that may be expected for the year ending May 31, 2021.
+Added: Operating results for the nine-months ended February 28, 2021 are not necessarily indicative of the results that may be expected for the year ending May 31, 2021.
Use of Estimates and Assumptions
10 unchanged sentences
NOTES TO FINANCIAL STATEMENTS
−Removed: NOVEMBER 30, 2020 (Unaudited)
+Added: FEBRUARY 28, 2021 (Unaudited)
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
4 unchanged sentences
Diluted loss per share is the same as basic loss per share due to the lack of dilutive items in the Company.
−Removed: As of November 30, 2020, there were no common stock equivalents outstanding.
+Added: As of February 28, 2021, there were no common stock equivalents outstanding.
The Company follows the liability method of accounting for income taxes.
−Removed: Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax balances and tax loss carry-forwards.
−Removed: Deferred tax assets and liabilities are measured using enacted or substantially enacted tax rates expected to apply to the taxable income in the years in which those differences are expected to be recovered or settled.
+Added: Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax balances and tax loss carry-forwards.Deferred tax assets and liabilities are measured using enacted or substantially enacted tax rates expected to apply to the taxable income in the years in which those differences are expected to be recovered or settled.
The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the date of enactment or substantive enactment.
7 unchanged sentences
The Company has not adopted a stock option plan and has not granted any stock options.
−Removed: As at November 30, 2020 the Company had not adopted a stock option plan nor had it granted any stock options.
+Added: As at February 28, 2021 the Company had not adopted a stock option plan nor had it granted any stock options.
Accordingly, no stock-based compensation has been recorded to date.
2 unchanged sentences
NOTES TO FINANCIAL STATEMENTS
−Removed: NOVEMBER 30, 2020 (Unaudited)
+Added: FEBRUARY 28, 2021 (Unaudited)
NOTE 3 – COMMON STOCK
10 unchanged sentences
NOTE 4 – RELATED PARTY TRANSACTIONS
−Removed: During the six-month ended November 30, 2020, the CEO paid expenses of $21,798 and on behalf of the Company.
−Removed: Total amount owed to the CEO as of November 30, 2020 is $50,355 (May 31, 2020- $28,557).
+Added: During the nine-month ended February 28, 2021 the CEO, Reymund Guillermo, paid expenses of $21,934 on behalf of the Company and accrued CEO management fees of $7,500 for the period.
+Added: Total amount owed to the CEO as of February 28, 2021 is $57,991 (May 31, 2020- $28,557).
The amounts due to related party are unsecured and non- interest-bearing with no set terms of repayment.
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.