What changed in this filing

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Item 1. Financial Statements

2022-12-19 compared with 2022-12-19 · 81 added, 74 removed, 374 unchanged (29% of the section changed)

21 unchanged sentences

For the Three Months Ended

For the Nine Months Ended

For the Six Months Ended

Operating expenses:

General and administrative (including fees paid to related party of $0 and $0, and $0 and $1,253, for the three and nine months ended June 30, 2020 and 2019, respectively)

General and administrative (including fees paid to related party of $0 and $455, and $0 and $1,253, for the three and six months ended March 31, 2020 and 2019, respectively)

Total operating expenses

2 unchanged sentences

Interest expense

Change in fair value of convertible debt

Total other expenses

5 unchanged sentences

CONSOLIDATED STATEMENT OF STOCKHOLDERS DEFICIT

THE THREE AND NINE MONTHS ENDED JUNE 30, 2020 AND 2019

THE THREE AND SIX MONTHS ENDED MARCH 31, 2020 AND 2019

Additional Paid

5 unchanged sentences

$ (5,090,990 )

Balance, June 30, 2019

$ (5,094,649 )

Balance, October 1, 2019

4 unchanged sentences

$ (5,105,534 )

Balance, June 30, 2020

$ (5,109,094 )

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

1 unchanged sentence

CONSOLIDATED STATEMENTS OF CASH FLOWS

THE NINE MONTHS ENDED JUNE 30, 2020 AND 2019

THE SIX MONTHS ENDED MARCH 31, 2020 AND 2019

Cash flows from operating activities:

2 unchanged sentences

Accounts payable - related parties

Accrued liabilities

Accrued expenses

Net cash used in operating activities

46 unchanged sentences

by including common stock equivalents outstanding for the period in the denominator.

For the three and nine months ended June 30, 2020

For the three and six months ended March 31, 2020

and 2019, any equivalents would have been anti-dilutive as we had net losses for the periods then ended.

of June 30, 2020 and September 30, 2019, the Company had two convertible notes with principal and accrued interest balances totaling

of March 31, 2020 and September 30, 2019, the Company had two convertible notes with principal and accrued interest balances totaling

$27,862 and $26,357, respectively.

3 unchanged sentences

These common stock equivalents of approximately 2,470,003

and 871,979 shares as of June 30, 2020 and 2019, respectively, are not included in the calculation of diluted

EPS as their effect would be anti-dilutive.

of June 30, 2020 and September 30, 2019, the Company had 3,291,000 in stock options outstanding which are exercisable at the holders

and 334,050 shares as of March 31, 2020 and 2019, respectively, are not included in the calculation

of diluted EPS as their effect would be anti-dilutive.

of March 31, 2020 and September 30, 2019, the Company had 3,291,000 in stock options outstanding which are exercisable at the holders

option, with an exercise price of $0.0067, which are not included in the calculation of diluted EPS as their effect would be anti-dilutive.

23 unchanged sentences

or modified disclosures upon issuance of ASU 2018-13.

The Company adopted ASI 2018-13 on October 1, 2020 and has determined that the

adoption of this guidance had no impact on its consolidated financial statements.

The Company adopted ASU 2018-13 on October 1, 2020 and has determined that

the adoption of this guidance had no impact on its consolidated financial statements.

February 2016, the FASB issued ASU No.

4 unchanged sentences

A lease liability is a lessees obligation to make lease payments arising

from a lease, measured on a discounted basis and a right-of-use asset represents the lessees right to use, or control use of,

a specified asset for the lease term.

from a lease, measured on a discounted basis and a right-of-use asset represents the lessees right to use, or control use of, a

specified asset for the lease term.

The amendments in this ASU simplify the accounting for sale and leaseback transactions primarily

4 unchanged sentences

2016-02 is effective for reporting periods beginning after December

The Company adopted ASI 2016-02 on October 1, 2019 and has determined that the adoption of this guidance had no

The Company adopted ASU 2016-02 on October 1, 2019 and has determined that the adoption of this guidance had no

impact on its consolidated financial statements.

GOING CONCERN AND MANAGEMENTS LIQUIDITY PLANS

of June 30, 2020, the Company had an accumulated deficit of $5,109,094 and a working capital deficiency of $245,692.

During the nine

months ended June 30, 2020, the Company incurred a net loss of $10,607 and used cash in operating activities of $89.

June 30, 2020, the Company had cash of $438.

These conditions raise substantial doubt about the Companys ability to continue as

a going concern.

of March 31, 2020, the Company had an accumulated deficit of $5,105,534 and a working capital deficiency of $241,132.

During the six

months ended March 31, 2020, the Company incurred a net loss of $7,047 and used cash in operating activities of $59.

As of March 31,

2020, the Company had cash of $468.

These conditions raise substantial doubt about the Companys ability to continue as a going

The Company recognizes it will need to raise additional capital in order to fund operations and meet its payment obligations.

19 unchanged sentences

related parties are amounts payable to current and former officers and directors for services provided to the Company

totaling $87,237 and $87,237, As of June 30, 2020 and September 30, 2019, respectively.

totaling $87,237 and $87,237, As of March 31, 2020 and September 30, 2019, respectively.

These amounts include accounts payable to an

entity controlled by our sole officer and director for financial services such entity is incurring on behalf of the Company totaling

$12,360 and $12,360 as of June 30, 2020 and September 30, 2019, respectively.

$12,360 and $12,360 as of March 31, 2020 and September 30, 2019, respectively.

Total expense incurred related to this entity was $0 and

$0 for the three months ended June 30, 2020 and 2019, respectively, and $0 and $1,253 for the nine months ended June 30, 2020 and 2019,

$455 for the three months ended March 31, 2020 and 2019, respectively, and $0 and $1,253 for the six months ended March 31, 2020 and

2019, respectively, with no other related party expenses incurred.

11 unchanged sentences

March 21, 2018 to March 21, 2019.

As of June 30, 2020 and September 30, 2019, the total accrued interest owing under this note was $4,327

As of March 31, 2020 and September 30, 2019, the total accrued interest owing under this note was $3,953

and $3,201, respectively.

11 unchanged sentences

On May 11, 2018, the agreement had been amended to extend the maturing date of the note from March 30, 2018 to March

As of June 30, 2020 and September 30, 2019, the total accrued interest owing under this note was $4,282 and $3,156 respectively.

Subsequent to the nine months ended June 30, 2020, on December 3, 2021, the Company repaid this loan and accrued interest in full.

As of March 31, 2020 and September 30, 2019, the total accrued interest owing under this note was $3,908 and $3,156 respectively.

Subsequent to the six months ended March 31, 2020, on December 3, 2021, the Company repaid this loan and accrued interest in full.

with Mediapark Investments Limited

4 unchanged sentences

As of July 9, 2018, the loan was extended to July 10, 2019.

As of June 30, 2020 and September 30,

As of March 31, 2020 and September 30,

2019, the total accrued interest owing under this note was $6,633 and $4,904, respectively.

7 unchanged sentences

of 12% per annum.

As of the June 30, 2020 and September 30, 2019, the total accrued interest owing under this note was $6,127 and $3,875,

As of the March 31, 2020 and September 30, 2019, the total accrued interest owing under this note was $5,379 and $3,875,

respectively.

Subsequent to the nine months ended June 30, 2020, on December 3, 2021, the Company repaid this loan and accrued interest

stock options were granted during the nine months ended June 30, 2020 and 2019.

following is a summary of outstanding stock options issued to employees and directors As of June 30, 2020 and September 30, 2019:

June 30, 2020 and September 30, 2019

following is a summary of outstanding stock options issued to non-employees, excluding directors, as of June 30, 2020 and September 30,

June 30, 2020 and September 30, 2019

was no equity-based compensation for the nine months ended June 30, 2020 and 2019.

Subsequent to the six months ended March 31, 2020, on December 3, 2021, the Company repaid this loan and accrued interest

stock options were granted during the six months ended March 31, 2020 and 2019.

following is a summary of outstanding stock options issued to employees and directors As of March 31, 2020 and September 30, 2019:

Exercise Price per

Outstanding March 31, 2020 and September 30, 2019

Exercisable, March 31, 2020 and September 30, 2019

following is a summary of outstanding stock options issued to non-employees, excluding directors, as of March 31, 2020 and September

Exercise Price per

Outstanding March 31, 2020 and September 30, 2019

Exercisable, March 31, 2020 and September 30, 2019

was no equity-based compensation for the six months ended March 31, 2020 and 2019.

SUBSEQUENT EVENTS

112 unchanged sentences

of Operations

of the Three Months Ended June 30, 2020 to the Three Months Ended June 30, 2019

revenue or cost of sales were generated for the three months ended June 30, 2020 or June 30, 2019.

Companys expenses for the three months ended June 30, 2020 and 2019, are summarized as follows:

Months Ended June 30,

and administrative (including fees paid to related party of $0 and $0)

operating expenses

decrease in general and administrative expenses for the three months ended June 30, 2020 compared to the three months ended June 30,

2019 of $279 is due primarily to a decrease in accounting fees.

Months Ended June 30,

other expenses

expense increased $180 for the three months ended June 30, 2020 from the comparative period of 2019 due to the increase in interest rate

to 15% on the Companys notes payable due to the default rate provisions.

of the Nine Months Ended June 30, 2020 to the Nine Months Ended June 30, 2019

revenue or cost of sales were generated for the nine months ended June 30, 2020 or June 30, 2019.

Companys expenses for the nine months ended June 30, 2020 and 2019, are summarized as follows:

Months Ended June 30,

and administrative (including fees paid to related party of $0 and $1,253)

operating expenses

decrease in general and administrative expenses for the nine months ended June 30, 2020 compared to the nine months ended June 30, 2019

of the Three Months Ended March 31, 2020 to the Three Months Ended March 31, 2019

revenue or cost of sales were generated for the three months ended March 31, 2020 or March 31, 2019.

Companys expenses for the three months ended March 31, 2020 and 2019, are summarized as follows:

Three Months Ended March 31,

General and administrative (including fees paid to related party of $0 and $455)

Total operating expenses

decrease in general and administrative expenses for the three months ended March 31, 2020 compared to the three months ended March 31,

2019 of $602 is due primarily to a decrease in accounting fees.

Months Ended June 30,

other expenses

expense increased $1,148 for the nine months ended June 30, 2020 from the comparative period of 2019 due to the increase in interest

Three Months Ended March 31,

Interest Expense

Total other expenses

expense increased $492 for the three months ended March 31, 2020 from the comparative period of 2019 due to the increase in interest

rate to 15% on the Companys notes payable due to the default rate provisions.

of the Six Months Ended March 31, 2020 to the Six Months Ended March 31, 2019

revenue or cost of sales were generated for the six months ended March 31, 2020 or March 31, 2019.

Companys expenses for the six months ended March 31, 2020 and 2019, are summarized as follows:

Six Months Ended March 31,

General and administrative (including fees paid to related party of $0 and $1,253)

Total operating expenses

decrease in general and administrative expenses for the six months ended March 31, 2020 compared to the six months ended March 31, 2019

of $417 is due primarily to a decrease in accounting fees.

Six Months Ended March 31,

Interest Expense

Total other expenses

expense increased $968 for the six months ended March 31, 2020 from the comparative period of 2019 due to the increase in interest rate

to 15% on the Companys notes payable due to the default rate provisions.

and Capital Resources

following table sets forth a summary of changes in working capital as of ended June 30, 2020 and September 30, 2019:

decrease in current assets of $89 is mainly due to a decrease in cash from the payment of outstanding bills during the nine months ended

June 30, 2020.

The increase in current liabilities of $10,518 is primarily due to an increase in accrued liabilities during the nine

months ended June 30, 2020.

following table sets forth a summary of changes in cash flows for the nine months ended June 30, 2020 and 2019:

Months Ended June 30,

cash used in operating activities

of June 30, 2020, our cash balance was $438.

following table sets forth a summary of changes in working capital as of ended March 31, 2020 and September 30, 2019:

March 31, 2020

September 30, 2019

Current Assets

Current Liabilities

Working capital

decrease in current assets of $59 is mainly due to a decrease in cash from the payment of outstanding bills during the six months ended

March 31, 2020.

The increase in current liabilities of $6,988 is primarily due to an increase in accrued liabilities during the six months

ended March 31, 2020.

following table sets forth a summary of changes in cash flows for the six months ended March 31, 2020 and 2019:

Six Months Ended March 31,

Net cash used in operating activities

Change in cash

of March 31, 2020, our cash balance was $468.

The Company does not expect its current cash and operating income to be sufficient to meet

its financial needs for continuing operations over the next twelve months.

cash used in operations for the nine months ended June 30, 2020 of $89 was mainly due to the net loss that was incurred during the period.

cash used in operations for the six months ended March 31, 2020 of $59 was mainly due to the net loss that was incurred during the period.

may need to evaluate raising additional capital through the sale of equity securities, through an offering of debt securities or through

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.

What changed 10-Q

Item 1. Financial Statements