The information contained in this Form 10-Q is intended to update the
information contained in our Annual Report on Form 10-K for the year ended
November 30, 2021 and presumes that readers have access to, and will have read,
the "Management's Discussion and Analysis of Financial Condition and Results of
Operations" and other information contained in such Form 10-K. The following
discussion and analysis also should be read together with our financial
statements and the notes to the financial statements included elsewhere in this
Form 10-Q.
The following discussion contains certain statements that may be deemed
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. Such statements appear in a number of places in
this Report, including, without limitation, "Management's Discussion and
Analysis of Financial Condition and Results of Operations. "These statements are
not guarantees of future performance and involve risks, uncertainties and
requirements that are difficult to predict or are beyond our control.
Forward-looking statements speak only as of the date of this quarterly report.
You should not put undue reliance on any forward-looking statements. We strongly
encourage investors to carefully read the factors described in our Form S-1
Amendment No.2, dated June 15, 2018, in the section entitled "Risk Factors" for
a description of certain risks that could, among other things, cause actual
results to differ from these forward- looking statements. We assume no
responsibility to update the forward-looking statements contained in this
transition report on Form 10-Q. The following should also be read in conjunction
with the unaudited Condensed Consolidated Financial Statements and notes thereto
that appear elsewhere in this report.
Company Overview
We, Leader Hill Corporation, a Nevada corporation ("the Company") was
incorporated under the laws of the State of Nevada on August 21, 2017.
The Company's executive office is located at Room 0701, Unit 2, Building 11,
Shui'an Xindu, Coastal Industrial Base, Yingkou City, Liaoning Province, 115000,
China.
We, Leader Hill Corporation ("the Company"), are an early stage business
consulting company that intends to assist start-up to midsize companies in the
East Asia region, with a focus on mainland China and Hong Kong, to operate their
businesses more cost effectively through our multifaceted consulting services.
Additionally, it should be noted that the Company has not yet generated any
revenue, and we currently operate at a net loss.
On December 17, 2020, the existing director and officer resigned immediately.
Accordingly, Chia Yee Seah, serving as a director and an officer, ceased to be
the Company's Chief Executive Officer, Chief Financial Officer, President,
Treasurer, Secretary and a Director. At the effective date of the transfer, Liu
Muzhen consented to act as the new Chief Executive Officer, Chief Financial
Officer, President, Treasurer, Secretary and Chairman of the Board of Directors
of the Company.
Mr. Liu Muzhen ("Mr. Liu"), age 33, is currently studying a Master of Business
Administration in the University of New Buckingham, while his bachelor's degree
was obtained in Capital Normal University, with major in software engineering.
From August 2012 to December 2016, Mr. Liu was a general manager of Shanghai
Guangya Network Technology Company Limited ("Guangya"). Guangya had two major
business steams, first one was business of network technology research and
development, with its in-house Software-as-a-service as solution to its clients.
The second one was sales and distribution of electronic appliances,
communication tools and Audio-visual equipment. Mr. Liu was responsible to be
the oversight of the whole company, business development, reporting of financial
result to shareholders.
From January 2017 to the present, Mr. Liu has been a general manager of Big
Player (Shenzhen) Media Company Limited ("Big Player"). Big Player is engaging
in not only cultural campaign planning, corporate branding, and advertisement,
but also website, online game and application development. Mr. Liu is
responsible for the online game and application development, strategic
development of the Company and review of the strategy implementation.
Liu Muzhen has been appointed as a Chief Executive Officer, Chief Financial
Officer, President, Treasurer, Secretary and Chairman of Board of Directors of
the Company since December 17, 2020.
Results of Operation
For the three months period ended February 28, 2022 and 2021
Our cash and cash equivalents balance were $Nil and $512 as of February 28, 2022
and November 30, 2021 respectively.
Revenues and cost of revenue
The company has not generated any revenue nor incurring and cost of sale for the
three months period ended February 28, 2022.
The company has not generated any revenue nor incurring and cost of sale for the
three months period ended February 28, 2021.
General and administrative expenses
For the three months ended February 28, 2022, the company has incurred general
and administrative expenses of $8,150, which consist of mainly financial
statement review, filing and transfer agent fee.
For the three months ended February 28, 2021, the company has incurred general
and administrative expenses of $4,935, which consist of mainly financial
statement review, filing and transfer agent fee.
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Net loss
Our net loss for the three months ended February 28, 2022 were $8,150.
Our net loss for the three months ended February 28, 2021 were $4,935.
Liquidity and Capital Resources
Cash Used in Operating Activities
For the three months period ended February 28, 2022, the company has consumed
$Nil in operating activity, of which mainly consist of incurring an operating
net loss and decrease in accrued expenses contra by loan from director.
For the three months period ended February 28, 2021, the company has consumed
$Nil in operating activity, of which mainly consist of incurring an operating
net loss and decrease in accrued expenses contra by loan from director.
Cash Used in Investing Activities
The company has not consumed nor generated any cash from investing activity for
the three months period ended February 28, 2022.
Cash Provided by Financing Activities
The company has not consumed nor generated any cash from financing activity for
the three months period ended February 28, 2022.
Off-balance Sheet Arrangements
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 as of February 28, 2022.
Contractual Obligations
As of February 28, 2022, the Company has no contractual obligations involved.
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