What changed in this filing

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Item 8. Financial Statements and Supplementary Data

2023-03-15 compared with 2022-02-28 · 131 added, 92 removed, 190 unchanged (54% of the section changed)

Financial Statements and Supplementary

Financial Statements

Report of Independent Registered Public Accounting Firm ( PCAOB ID:

and Supplementary Data

FINANCIAL STATEMENTS

Report of Independent Registered Public Accounting Firm

Balance Sheets as of November 30, 2022 and 2021

3 unchanged sentences

Notes to the Audited Financial Statements

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING

REPORT OF INDEPENDENT REGISTERED

PUBLIC ACCOUNTING FIRM

To the Board of Directors and Stockholders

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generally accepted in the United States of America.

Consideration of the Company’s Ability to Continue as a Going Concern

Consideration of the Company’s Ability

to Continue as a Going Concern

The accompanying financial statements have been

prepared assuming that the Company will continue as a going concern.

The Company has suffered losses and has minimal operations which

raise substantial doubt about its ability to continue as a going concern.

Management’s plans in regard to these matters are described

The Company has suffered losses and has minimal operations

which raise substantial doubt about its ability to continue as a going concern.

Management’s plans in regard to these matters

are described in Note 2.

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

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regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the

Those standards require that we plan and perform

the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error

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.

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 conducted our audits in accordance with the

standards of the PCAOB.

Those standards require that we plan and perform the audits 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.

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.

4 unchanged sentences

Farmington, Utah

February 11, 2022

March 14, 2023

BALANCE SHEETS

As of November 30,

As of November 30, 2020

of November 30, 2021

CURRENT ASSETS

2 unchanged sentences

Total Current Assets

Intangible Assets

LIABILITIES AND STOCKHOLDERS’ DEFICIT

1 unchanged sentence

Accounts payable

Accrued payroll - related party

Related-party loan

2 unchanged sentences

STOCKHOLDERS’ DEFICIT

Common stock, $ 0.001 par value, 75,000,000

shares authorized;

5,092,023 and 4,654,200 shares issued

and outstanding as of November 30, 2021 and 2020, respectively

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

7,105,357 and 5,092,023 shares issued and outstanding as of

November 30, 2022 and 2021, respectively

Additional paid-in capital

5 unchanged sentences

STATEMENTS OF OPERATIONS

For the year ended

November 30, 2022

1 unchanged sentence

November 30, 2021

Cost of revenues

Gross (Loss) profit

General and administrative expenses

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Balance, November 30, 2020

Issuance of common stock

Issuance of common stock for cash

Net income (loss)

Balance, November 30, 2021

Issuance of common stock for cash

of common stock for intangible assets

Net income (loss)

3 unchanged sentences

STATEMENTS OF CASH FLOWS

November 30, 2021

November 30, 2020

CASH FLOWS FROM OPERATING ACTIVITIES

1 unchanged sentence

to net cash used in operating activities:

Prepaid expenses

Accounts payable

Changes in operating assets and liabilities:

Decrease (increase) in prepaid expenses

Increase in accrued payroll – related party

Increase (decrease) in accounts payable

Net cash flows used in operating activities

CASH FLOWS FROM INVESTING ACTIVITIES

Purchase of intangible assets

Net cash flows used in investing activities

CASH FLOWS FROM FINANCING ACTIVITIES

2 unchanged sentences

Net cash flows provided by financing activities

NET INCRESE (DECREASE) IN CASH

NET INCREASE (DECREASE) IN CASH

CASH, BEGINNING OF PERIOD

3 unchanged sentences

Cash paid for income tax

NON-CASH INVESTING AND FINANCING ACTIVITIES:

stock issued for intangible assets

The accompanying notes are an integral part of these

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NOVEMBER 30, 2022

Note 1 — Description of Organization

and Business Operations

1 — Description of Organization and Business Operations

is a startup corporation, registered under the laws in the State of Nevada on June 12, 2018.

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of the Company as a going concern.

As a startup company, the Company had no revenues and incurred losses as of November 30, 2021.

Company currently has limited working capital and has not completed its efforts to establish a stabilized source of revenues sufficient

to cover operating costs over an extended period of time.

These conditions raise substantial doubt about the Company’s ability to

continue as a going concern.

As a startup company, the Company had limited revenues and incurred losses as of November 30, 2022.

The Company currently has limited working capital and has not completed its efforts to establish a stabilized source of revenues sufficient

to cover operating costs over an extended period.

These conditions raise substantial doubt about the Company’s ability to continue

as a going concern.

anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses.

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continue as a going concern.

this time any results of financial impact of the COVID-19 pandemic cannot be reasonably estimated now but it may have a material adverse

impact on our business, financial condition and results of operations.

Note 3 — Summary of Significant

Accounting Policies

Basis of Presentation

3 — Summary of Significant Accounting Policies

of Presentation

accompanying financial statements are presented in U.S.

5 unchanged sentences

The Company’s year-end is November 30.

NOTES TO THE FINANCIAL

NOVEMBER 30, 2021

Note 3 — Summary of Significant

Accounting Policies (cont.)

(Loss) Per Common Share

Income (Loss) Per Common Share

Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share.” Net loss per share

1 unchanged sentence

As of November

30, 2021 and 2 020, the Company did not have any

dilutive securities and other contracts that could, potentially, be exercised or converted into shares of common stock and then share

30, 2022 and 2 021, the Company did not have

any dilutive securities and other contracts that could, potentially, be exercised or converted into shares of common stock and then share

in the earnings of the Company.

5 unchanged sentences

Actual results could differ from those estimates.

Cash Equivalents

and Cash Equivalents

Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents.

had $114 of cash and cash equivalents as of November 30, 2021 ($11,312 as of November 30, 2020).

had $ 114 of cash and cash equivalents as of November 30, 2022 and November 30, 2021.

Company follows the asset and liability method of accounting for income taxes under FASB ASC 740, “Income Taxes.” Deferred

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examinations by major taxing authorities since inception.

NOTES TO THE FINANCIAL

TO THE FINANCIAL STATEMENTS

NOVEMBER 30, 2022

Note 3 — Summary of Significant

Accounting Policies (cont.)

3 — Summary of Significant Accounting Policies (cont.)

and Development Policy

6 unchanged sentences

Development Policy

Company follows the provisions of ASC 985, “Software”, which requires that all costs relating to the purchase or internal

development and production of software products to be sold, leased or otherwise marketed, be expensed in the period incurred unless the

requirements for technological feasibility have been established.

Company follows the provisions of ASC 985, “Software”, which requires that all costs incurred be expensed until technological

feasibility has been established.

Company recognizes revenues in accordance with ASC 606 – Revenue from Contracts with Customers .

Revenue related to contracts

with customers is evaluated utilizing the following steps:

(i) Identify the contract, or contracts, with a customer;

(ii) Identify the

performance obligations in the contract;

(iii) Determine the transaction price;

(iv) Allocate the transaction price to the performance

obligations in the contract;

(v) Recognize revenue when the Company satisfies a performance obligation.

The Company has introduced a subscription-based

service that provides users with access to AI-generated tattoo ideas.

As of November 30, 2022, the Company recognized $1,000 in revenues.

The subscriptions range from 14 to 30 days and revenue is recognized over the subscription period on a straight-line basis as the performance

obligation is satisfied.

Accounting Pronouncements

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the year ended November 30, 2021, the Company issued 437,823 shares of common stock for cash proceeds of $13,134 at $0.03 per share.

November 30, 2022, the Company issued 2,013,334 shares of common stock valued at $90,600 for intangible assets.

were 7,105,357 and 4,654,200 shares of common stock issued and outstanding as of November 30, 2022, and 2021, respectively.

Related Party Transaction s

the year ended November 30, 2020, the Company’s director loaned to the Company $10,869.

the year ended November 30, 2021, the Company’s director loaned to the Company $10,849.

of November 30, 2021, our sole director has loaned to the Company $38,394.

This loan is unsecured, non-interest bearing and due on demand.

NOTES TO THE FINANCIAL

NOVEMBER 30, 2021

Note 6 — Prepaid Expenses

of November 30, 2021, the prepaid balance was as follows:

5 — Related Party Transactions

the years ended November 30, 2022 and 2021, the Company’s director loaned to the Company $ 34,380

and $10,849, respectively.

of November 30, 2022 and November 30, 2021, our sole director has a total outstanding balance

of $ 72,774 and $ 38,394 , respectively.

This loan is unsecured, non-interest bearing and due

of November 30, 2022 and November 30, 2021, the payroll liability to our sole director was

$ 49,000 and $0, respectively.

6 — Prepaid Expenses

of November 30, 2022 and 2021, the prepaid balance was as follows:

As of November 30, 2022

As of November 30, 2021

Application development

API with the Base

Prepaid business license fees

Total prepaid expenses

Note 7 – Intangible

Company follows the provisions of ASC 985, Software, which requires that all costs relating to the purchase or internal development

and production of software products to be sold, leased or otherwise marketed, be expensed in the period incurred unless the

requirements for technological feasibility have been established.

The Company amortizes these costs using the straight-line

method over the three years.

The Company expects to recognize amortization expense of $37,323 annually for the next three fiscal

During the year ended

November 30, 2022, the Company acquired software for $ 100,000 and capitalized website development

costs of $11,970.

As of November 30, 2022 the

Company had intangible assets of $111,970.

Note 8 – Income

1 unchanged sentence

Deferred Tax Assets

As of November 30, 2021, the Company

had net operating loss (“NOL”) carry–forwards for Federal income tax purposes of $57,317.

No tax benefit has been

recorded with respect to these net operating loss carry-forwards in the accompanying financial statements as the management of the Company

believes that the realization of the Company’s net deferred tax assets of approximately $12,037 was not considered more likely than

not and accordingly, the potential tax benefits of the net loss carry-forwards are offset by the full valuation allowance.

Deferred tax assets consist

primarily of the tax effect of NOL carry-forwards which was used to offset tax payable from prior year’s operations.

The Company has provided a full valuation allowance on the deferred tax assets because of the uncertainty regarding its realization.

current valuation of tax allowance is $12,037 and $8,291 as of November 30, 2021 and 2020, respectively.

Components of deferred tax assets

are as follows:

of November 30, 2022, the Company had net operating loss (“NOL”) carry-forwards for Federal income tax purposes of $ 123,759 .

tax benefit has been recorded with respect to these net operating loss carry-forwards in the accompanying financial statements as the

management of the Company believes that the realization of the Company’s net deferred tax assets of approximately $25,989 was not

considered more likely than not and accordingly, the potential tax benefits of the net loss carry-forwards are offset by the full valuation

tax assets consist primarily of the tax effect of NOL carry-forwards which was used to offset tax payable from prior year’s

The Company has provided a full valuation allowance on the deferred tax assets because of the uncertainty regarding

its realization.

The current valuation of tax allowance is $25,989 and $12,037 as of November 30, 2022 and 2021, respectively.

TO THE FINANCIAL STATEMENTS

NOVEMBER 30, 2022

of deferred tax assets are as follows:

For the Year Ended

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Deferred Tax Asset, Net of Valuation Allowance

NOTES TO THE FINANCIAL

NOVEMBER 30, 2021

Income Tax Provision in the Statement of Operations

A reconciliation of the federal statutory income tax

rate and the effective income tax rate as a percentage of income before income taxes is as follows:

Income Tax Provision in the

Statement of Operations

reconciliation of the federal statutory income tax rate and the effective income tax rate as a percentage of income before income taxes

is as follows:

For the Year Ended

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Effective income tax rate

Note 8 – Subsequent Events

9 – Subsequent Events

Company has evaluated all subsequent events through the date when the financial statements were issued to determine if they must be reported.

The Company determined that there were no reportable subsequent events to disclose in these financial statements.

Changes in and Disagreements with Accountants

on Accounting and Financial Disclosure

The Company determined that there were no reportable subsequent events to disclose in these financial statements other than those described

promissory Note was signed by and between Inky Inc and Ioanna Kallidou, the President and Chief Executive Officer of the Company on December

The Promissory Note was issued in order to repay the debt of the Company to the director in shares.

will issue to

Ioanna Kallidou a total of 1,571,400 common shares per value $0.025 per share in exchange of Thirty-Nine Thousand Two Hundred Eighty-Five

Dollars ($39,285).

The shares have not been issued yet.

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