FORWARD-LOOKING STATEMENTS
This quarterly report contains forward-looking statements. These statements
relate to future events or our future financial performance. In some cases, you
can identify forward-looking statements by terminology such as "may", "should",
"expects", "plans", "anticipates", "believes", "estimates", "predicts",
"potential" or "continue" or the negative of these terms or other comparable
terminology. These statements are only predictions and involve known and unknown
risks, uncertainties and other factors that may cause our or our industry's
actual results, levels of activity, performance or achievements to be materially
different from any future results, levels of activity, performance or
achievements expressed or implied by these forward-looking statements. Although
we believe that the expectations reflected in the forward-looking statements are
reasonable, we cannot guarantee future results, levels of activity, performance
or achievements. Except as required by applicable law, including the securities
laws of
Our unaudited financial statements are prepared in accordance with United States Generally Accepted Accounting Principles. The following discussion should be read in conjunction with our financial statements and the related notes that appear elsewhere in this quarterly report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed below and elsewhere in this quarterly report.
In this quarterly report, unless otherwise specified, all dollar amounts are
expressed in
As used in this quarterly report, the terms "we", "us", "our" and "our company"
mean
General Overview
We were incorporated under the laws of the
On
Upon the change of control of our company, the existing directors and officers
resigned immediately. Accordingly,
With the change of control on
On
The assets acquired by our company consist of a significant portion of the assets used in the operation of the No Tie business, with the exception of, accounts receivable for sales made prior to the closing date for the developer accounts, cash on hand and all computers, printers and related accessories and technology equipment.
On
Our principal executive offices are located at Osterbrogade 226 st. tv,
Other than as set out herein, we have not been involved in any bankruptcy, receivership or similar proceedings, nor have we been a party to any material reclassification, merger, consolidation or purchase or sale of a significant amount of assets not in the ordinary course of our business.
11 Table of Contents Our Current Business
Upon closing of the Acquisition, we are now an App business with 120+ Apps
primarily for iPhone, iPad and Apple Watch with over six million downloads and
awards from
Our Apps are available for download through the
iOS Apps and Games
Our iPhone iOS portfolio includes 97 Apps, primarily consisting of ring tones. Our apps also include talking video greeting cards, games, Autism Speaking Soundboards and more.
Our iPad iOS portfolio includes 90 Apps, primarily consisting of ring tones. Our apps also include games, Autism Speaking Soundboards, iFAQs and more.
We currently have 1 apple TV App, Name That Candidate.
Our
Results of Operations
Three Months Ended
Our operating results for the three months ended
Three Months Three Months Ended Ended November 30, November 30, 2020 2019 Changes $ Change % Revenues $ - $ 794$ (794 ) (100 )% Operating Expenses$ 17,198 $ 16,650 $ 548 3 % Other Expenses$ 13,692 $ -$ 13,692 - Net loss$ (30,890 ) $ (15,856 ) $ (15,034 ) 95 %
During the three months ended
We had no sales for the three months ended
Operating expenses were
Other expenses incurred during the three months ended
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Liquidity and Capital Resources
Working Capital As of As of November 30, August 31, 2020 2020 Changes $ Change % Current Assets $ - $ - $ - N/A Current Liabilities$ 127,915 $ 105,599 $ 22,316 21 % Working Capital (Deficiency)$ (127,915 ) $ (105,599 ) $ (22,316 ) 21 %
As of
Cash Flows Three Months Three Months Ended Ended November 30, November 30, 2020 2019 Changes Change % Net cash used in operating (44%) activities$ (8,574 ) $ (15,408 ) $ 6,834 Net cash provided by financing (48%) activities$ 8,574 $ 16,350 $ (7,776 ) Net increase(decrease) in cash (100%) and cash equivalents $ - $ 942$ (942 )
Cash Flow from Operating Activities
During the three months ended
During the three months ended
Cash Flow from Investing Activities
During the three months ended
Cash Flow from Financing Activities
During the three months ended
Off-Balance Sheet Arrangements
We have no 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 stockholders.
13 Table of Contents
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