This Form 10-Q quarterly report includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. All statements other than statements of historical facts, included in this Form 10-Q that address activities, events, or developments that we expect or anticipate will or may occur in the future, including such things as future capital expenditures (including the amount and nature thereof), business strategy and measures to implement strategy, competitive strength, goals, expansion and growth of our business and operations, plans, references to future success, reference to intentions as to future matters, and other such matters are forward-looking statements. In some cases, you can identify forward- looking statements by terminology such as "may," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," or "continue," or the negative of such terms or other comparable terminology. These statements are only predictions. Actual events or results may differ materially. These statements are based upon certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments as well as other factors that we believe are appropriate in the circumstances. However, whether actual results and developments will conform to our expectations and predictions is subject to a number of risks, uncertainties, and other factors, many of which are beyond our control.

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. Moreover, we do not assume responsibility for the accuracy and completeness of such forward-looking statements. We are under no duty to update any of the forward-looking statements after the date of this report to conform such statements to actual results.





Results of Operations

Comparison of the three months ended March 31, 2021 and 2020

Revenues . The Company had no revenue during the three months ended March 31, 2021 or 2020.

Cost of Revenues . The Company had no cost of revenues for the three months ended March 31, 2021 or 2020.

General and Administrative expenses. The Company incurred $23,829 of general and administrative expenses during the three months ended March 31, 2021 compared to $1,030 during the same period in 2020. The increase in general and administrative expenses relate to both SEC filing fees and costs relating to the addition of a transfer agent.

Professional fees. The Company incurred $100,000 of professional fees during the three months ended March 31, 2021 compared to $1,500 during the same period in 2020. The increase in professional fees is the result of the Company incurring costs associated with Accountants, Auditors and Attorneys during the period.

Loss From Operations. The Company incurred an operating loss of $123,829 during the three months ended March 31, 2021 compared to $2,530 during the same period in 2020. The increase in net loss is a result of increased professional fees and additional costs associated with the change in control.

Other Income (Expense). The Company incurred interest expense of $0 during the three months ended March 31, 2021 compared to $748 during the three months ended March 31, 2020.

Net Loss. The Company incurred a net loss of $123,829 during the three months ended March 31, 2021 compared to $3,278 during the same period in 2020. The increase in net loss is a result of increased general and administrative and professional fees.

Liquidity and Capital Resources

As of December 31, 2020, we had cash of $0, with current assets totaling $0 and current liabilities totaling $93,765 creating a working capital deficit of $93,765. Current liabilities consisted of accounts payable and accrued liabilities totaling $6,730, related party payable of $28,929, related party interest payable of $11,156 and a related party loan payable of $46,050.

As of March 31, 2021, we had cash of $1 million with current assets totaling $1 million and current liabilities totaling $1,217,594. The addition of an intercompany loan of $1,123,829 has created an increase in cash flows of $1 million. Current liabilities consisted of accounts payable and accrued liabilities totaling $6,730, related party payable of $28,929, related party interest payable of $11,156 and a related party loan payable of $46,050.


--------------------------------------------------------------------------------
                                       12

--------------------------------------------------------------------------------





Cash Flows

Net cash used in operating activities was $123,829 and $0 during the three months ended March 31, 2021 and 2020, respectively.

Net cash provided by financing activities was $1 million and $0 during the three months ended March 31, 2021 and 2020, respectively.

Off-Balance Sheet Arrangements

We have no off-balance sheet arrangements.

© Edgar Online, source Glimpses