There is no historical financial information about us upon which to base an
evaluation of our performance. We are in start-up stage operations and have not
generated any revenues. We cannot guarantee we will be successful in our
business operations. Our business is subject to risks inherent in the
establishment of a new business enterprise, including limited capital resources
and possible cost overruns due to price and cost increases in services and
products.
We have no assurance that future financing will be available to us on acceptable
terms. If financing is not available on satisfactory terms, we may be unable to
continue, develop or expand our operations. Equity financing could result in
additional dilution to existing shareholders.
The extent of the impact of the coronavirus ("COVID19") outbreak on the
financial performance of the Company will depend on future developments,
including the duration and spread of the outbreak and related advisories and
restrictions and the impact of COVID19 on the overall economy, all of which are
highly uncertain and cannot be predicted. If the overall economy is impacted for
an extended period, the Company's future operating results may be materially
adversely affected.
Results of Operations
FOR THREE MONTHS ENDED September 30, 2021, COMPARED TO THREE MONTHS ENDED
September 30, 2020.
The Company has not generated revenues for the three months ended September 30,
2021, and 2020.
Our net loss for the three months ended September 30, 2021, was $3,519 compared
to a net loss of $5,916 for three months ended September 30, 2020. For September
30, 2021 operating expenses were $3,011 compared to $5,916 for September 30,
2020, the decrease was primarily from reduced professional fees. For the three
months ended 2021 we recognized $508 for interest expense on a convertible note,
for 2020 we did not have interest expense.
FOR NINE MONTHS ENDED September 30, 2021, COMPARED TO NINE MONTHS ENDED
September 30, 2020.
The Company has not generated revenues for the nine months ended September 30,
2021 and 2020.
Our net loss for the nine months ended September 30, 2021, was $17,601 compared
to a net loss of $17,097 for nine months ended September 30, 2020. For September
30, 2021 operating expenses were $14,081 compared to $17,097 for September 30,
2020. For the nine months ended 2021 we recognized $3,520 for interest expense
on a convertible note issued in 2021, for 2020 we did not have interest expense.
As of September 30, 2021, and December 31, 2020, the number of shares
outstanding was 32,417,002.
LIQUIDITY AND CAPITAL RESOURCES
As of September 30, 2021, our total assets were $12,910, for prepaid accounting
fees. As of December 31, 2020, our total assets were $0.
As of September 30, 2021, our total liabilities were $30,940, for accounts
payable of $3,440, convertible note and accrued interest of $10,000, and due to
related party of $17,500.
As of December 31, 2020, our total liabilities were $429, for accounts payable.
Cash Flows from Operating Activities
We have not generated positive cash flows from operating activities for the nine
months ended September 30, 2021, net cash flows used in operating activities was
$23,980. Cash flows used in operating activities for the nine months ended
September 30, 2020, was $5,894.
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Cash Flows from Investing Activities
We have not generated cash flows from investing activities for the nine months
ended September 30, 2021, and 2020.
Cash Flows from Financing Activities
We have financed our operations primarily from either advancements or the
issuance of equity and debt instruments. For the nine months ended September 30,
2021, net cash provided by financing activities was $23,980 for issuance of a
convertible note of $6,480 and related party loans of $17,500. For the nine
months ended September 30, 2020, net cash from financing activities was $5,894,
for related party loans.
Off-Balance Sheet Arrangements
We do not have any off-balance sheet arrangements that have or are reasonably
likely to have a current or future effect on our financial condition, changes in
financial condition, revenues or expenses, results of operations, liquidity,
capital expenditures, or capital resources that is material to investors.
Critical Accounting Policies
The preparation of financial statements in conformity with accounting principles
generally accepted in the United States of America ("GAAP") requires estimates
and assumptions that affect the reported amounts of assets and liabilities,
revenues and expenses, and related disclosures of contingent assets and
liabilities in the financial statements and accompanying notes. The SEC has
defined a company's critical accounting policies as the ones that are most
important to the portrayal of the company's financial condition and results of
operations, and which require the company to make its most difficult and
subjective judgments, often as a result of the need to make estimates of matters
that are inherently uncertain. Based on this definition, we have not identified
any additional critical accounting policies and judgments. We also have other
key accounting policies, which involve the use of estimates, judgments and
assumptions that are significant to understanding our results, which are
described in Note 1 to our financial statements. Although we believe that our
estimates, assumptions, and judgments are reasonable, they are based upon
information presently available. Actual results may differ significantly from
these estimates under different assumptions, judgments, or conditions.
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