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Item 7. Management’s Discussion and Analysis

2023-03-31 compared with 2022-03-29 · 37 added, 158 removed, 22 unchanged (90% of the section changed)

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

following discussion of our financial condition and results of operations should be read in conjunction with our audited consolidated

financial statements and the notes to those financial statements appearing elsewhere in this Report.

following discussion of our financial condition and results of operations should be read in conjunction with our audited financial statements

and the notes to those financial statements appearing elsewhere in this Report.

statements in this Report constitute forward-looking statements.

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the statements are made or to reflect the occurrence of unanticipated events.

Company is moving in a new direction, statements made relating to our business plan are forward looking statements and we have no history

of performance.

Current management may not have sufficient experience in recycling, sales and distribution of reusable plastics.

are in the business of acquiring private corporations in the business of in recycling, sales and distribution of reusable plastics.

goal of recycling plastic is to reduce high rates of plastic pollution while putting less pressure on virgin materials to produce brand

new plastic products.

This approach helps to conserve resources and diverts plastics from landfills or unintended destinations such as

Our vision incorporates the spirit of social responsibility, not only on a local community basis but also on a global scale.

impact of social distancing requirements due to Covid-19 has affected all industries not only plastic recycling industry.

There has been

a strong demand for plastic for several years and converting waste plastic materials into commercially viable products, utilizing environmentally

friendly recycling and manufacturing methods has been a focused by the global awareness in clean environment, a trend many expect to

continue even after Covid-19 restrictions are lifted.

Green Land Corporation (the “Company” or “we” or “our”) was incorporated under the laws of the

State of Nevada on March 6, 2008, under the name of Henry County Plywood Corporation, as successor by merger to a Virginia

corporation incorporated in May 1948 under the same name.

On March 17, 2009, we changed our name from “Henry County Plywood

Corporation” to “Sino Green Land Corporation”.

On January 7, 2020, we renamed from “Sino Green Land

Corporation” to “Go Silver Toprich, Inc.”.

On August 31, 2020, we changed the name from “Go Silver Toprich,

Inc.” back to “Sino Green Land Corporation”.

current name is Sino Green Land Corporation, and our fiscal year end is December 31.

of Operations

for the year ended December 31, 2021 and 2020

Company did not generate any revenue for the year ended December 31, 2021 and 2020.

of Revenue and Gross Margin

the year ended December 31, 2021 and 2020, there were no cost incurred nor generated any gross profit.

and Administrative Expenses

and administrative expenses for the year ended December 31, 2021 and 2020 amounted to $143,983 and $39,343 respectively.

These expenses

primarily comprised of company renewal fee and professional fees.

the year ended December 31, 2021 and 2020, the Company has incurred a net loss of $143,983 and $39,343 respectively.

The loss is mainly

derived from the general and administrative expenses.

and Cost of Revenues

revenues and cost of revenues were recorded for the years ended December 31, 2022, and 2021, respectively.

and Administrative (G&A) Expenses

general and administrative (G&A) expenses were $35,659 and $143,983 for the years ended December 31, 2022, and 2021, respectively.

In 2022, these G&A expenses comprised of accounting fee of $7,500, audit fee of $12,000, transfer agent fee of $2,578, state filing

fee of $930 and other professional fee of $12,651, respectively.

and Capital Resources

of December 31, 2021, we had no cash and cash equivalents.

We had negative operating cash flows due to minimal operating activity, we

expect increased levels of operating activities going forward will result in more significant cash outflows.

do not have any credit facilities or other access to bank credit.

of December 31, 2022, we had no cash balance and $222,658 in outstanding liabilities, including $208,140 due to our former CEO, Lou

Xiong, a related party.

We do not have sufficient cash on hand to fund our ongoing operational expenses for the next 6 months.

will need to raise funds to maintain our operations and to pay our ongoing operational expenses.

Additional funding will likely come

from equity financing from the sale of our Common Stock.

If we are successful in completing an equity financing, existing

shareholders will experience dilution of their interest in our Company.

We do not have any financing arrangement and we cannot

provide investors with any assurance that we will be able to raise sufficient funding from the sale of our Common Stock to fund our

operations and ongoing operational expenses.

In the absence of such financing, our business will likely fail.

assurances that we will be able to achieve further sales of our Common Stock or any other form of additional financing.

Accounting Policies and Estimates

of presentation

Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States

of America (“U.S.

The preparation of 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 and

liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues

and expenses during the reporting period.

Actual results could differ from those estimates.

further acknowledges that it is solely responsible for adopting sound accounting practices, establishing and maintaining a system of

internal accounting control and preventing and detecting fraud.

The Company’s system of internal accounting control is designed

to assure, among other items, that 1) recorded transactions are valid;

2) valid transactions are recorded;

and 3) transactions are recorded

in the proper period in a timely manner to produce financial statements which present fairly the financial condition, results of operations

and cash flows of the Company for the respective periods being presented.

preparation of 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 and liabilities and disclosure of contingent

assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reported

Company’s significant estimates include income taxes provision and valuation allowance of deferred tax assets;

the fair value of

financial instruments;

the carrying value and recoverability of long-lived assets, including the values assigned to an estimated useful

lives of computer equipment;

and the assumption that the Company will continue as a going concern.

Those significant accounting estimates

or assumptions bear the risk of change due to the fact that there are uncertainties attached to those estimates or assumptions, and certain

estimates or assumptions are difficult to measure or value.

Management bases its estimates on historical experience and on various assumptions

that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying

values of assets and liabilities that are not readily apparent from other sources.

regularly reviews its estimates utilizing currently available information, changes in facts and circumstances, historical experience

and reasonable assumptions.

After such reviews, and if deemed appropriate, those estimates are adjusted accordingly.

Actual results could

differ from those estimates.

and cash equivalents

Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents.

Company adopted ASU 2014-09, Topic 606 on January 1, 2018, using the modified retrospective method.

ASC 606 requires the use of a new

five-step model to recognize revenue from customer contracts.

The five-step model requires that the Company (i) identify the contract

with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, including variable

consideration to the extent that it is probable that a significant future reversal will not occur, (iv) allocate the transaction price

to the respective performance obligations in the contract, and (v) recognize revenue when (or as) the Company satisfies the performance

adoption of Topic 606 has no impact on revenue amounts recorded on the Company’s financial statements as the Company has not generate

any revenues.

Company follows Section 740-10-30 of the FASB Accounting Standards Codification, which requires recognition of deferred tax assets and

liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns.

this method, deferred tax assets and liabilities are based on the differences between the financial statement and tax bases of assets

and liabilities using enacted tax rates in effect for the fiscal year in which the differences are expected to reverse.

assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be

Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the fiscal

years in which those temporary 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 the Statements of Income and Comprehensive Income in the period that includes the enactment

Company adopted section 740-10-25 of the FASB Accounting Standards Codification (“Section 740-10-25”) with regards to uncertainty

income taxes.

Section 740-10-25 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return

should be recorded in the financial statements.

Under Section 740-10-25, the Company may recognize the tax benefit from an uncertain

tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based

on the technical merits of the position.

The tax benefits recognized in the financial statements from such a position should be measured

based on the largest benefit that has a greater than fifty percent (50%) likelihood of being realized upon ultimate settlement.

740-10-25 also provides guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods

and requires increased disclosures.

December 22, 2017, the President of the United States signed into law the Tax Cuts and Jobs Act (“Tax Reform Act”).

The legislation

significantly changes U.S.

tax law by, among other things, lowering corporate income tax rates, implementing a territorial tax system

and imposing a transition tax on deemed repatriated earnings of foreign subsidiaries.

The Tax Reform Act permanently reduces the U.S.

corporate income tax rate from a maximum of 34% to a flat 21% rate, effective January 1, 2018.

As a result of the reduction in the U.S.

corporate income tax rate from 34% to 21% under the Tax Reform Act, the Company revalued its ending net deferred tax assets.

Company has accumulated approximately $36,834,447 of net operating losses (“NOL”) carried forward to offset future taxable

In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion

or all of the deferred tax assets will be realized.

The ultimate realization of deferred tax assets is dependent upon the generation

of future taxable income during the periods in which those temporary differences become deductible.

Management considers the scheduled

reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment.

the assessment, management has established a full valuation allowance against all of the deferred tax asset relating to NOLs for every

period because it is more likely than not that all of the deferred tax asset will not be realized.

income/(loss) per share

income (loss) per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification.

Basic net income

(loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding

during the period.

Diluted net income (loss) per common share is computed by dividing net income (loss) by the weighted average number

of shares of common stock and potentially outstanding shares of common stock during the period.

The weighted average number of common

shares outstanding and potentially outstanding common shares assumes that the Company incorporated as of the beginning of the first period

Convertible Preferred Stocks, warrants and stock options are not included in potentially dilutive shares outstanding for the year ended

December 31, 2021 as these would have an anti-dilutive impact on earnings per share.

which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control

the other party or exercise significant influence over the other party in making financial and operating decisions.

Companies are also

considered to be related if they are subject to common control or common significant influence.

value of financial instruments:

carrying value of the Company’s financial instruments:

cash and cash equivalents, accounts payable and accrued liabilities, and

amount due to a director approximate at their fair values because of the short-term nature of these financial instruments.

Company also follows the guidance of the ASC Topic 820-10, “Fair Value Measurements and Disclosures” (“ASC 820-10”),

with respect to financial assets and liabilities that are measured at fair value.

ASC 820-10 establishes a three-tier fair value hierarchy

that prioritizes the inputs used in measuring fair value as follows:

Observable inputs such as quoted prices in active markets;

Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly;

Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

accounting pronouncements

issues various Accounting Standards Updates relating to the treatment and recording of certain accounting transactions.

On June 10, 2014,

the Financial Accounting Standards Board issued Accounting Standards Update (ASU) No.

2014-10, Development Stage Entities (Topic

915) Elimination of Certain Financial Reporting Requirements, including an Amendment to Variable Interest Entities Guidance in Topic

810, Consolidation , which eliminates the concept of a development stage entity (DSE) entirely from current accounting guidance.

The Company has elected adoption of this standard, which eliminates the designation of DSEs and the requirement to disclose results of

operations and cash flows since inception.

Company has reviewed all recently issued, but not yet effective, accounting pronouncements and do not believe the future adoption of

any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.

preparing these financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities

in the balance sheets, and revenues and expenses during the periods reported.

Actual results may differ from these estimates.

Sheet Arrangements

Company has no significant off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our

financial condition, changes in our financial condition, revenues or expenses, results of operations, liquidity, capital expenditures

or capital resources that are material to our stockholders as of December 31, 2021.

of December 31, 2022, we have no significant off-balance sheet arrangements that have or are reasonably likely to have a current or future

effect on our financial condition, changes in our financial condition, revenues or expenses, results of operations, liquidity, capital

expenditures or capital resources that are material to our stockholders.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

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under this item.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

financial statements required by this item are located in PART IV of this Annual Report.

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 7. Management’s Discussion and Analysis