NEXT-CHEMX CORPORATION FORWARD LOOKING STATEMENTS
Statements made in this Form 10-Q that are not historical or current facts are "forward-looking statements" made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 (the "Act") and Section 21E of the Securities Exchange Act of 1934. These statements often can be identified by the use of terms such as "may," "will," "expect," "believe," "anticipate," "estimate," "approximate" or "continue," or the negative thereof. We intend that such forward-looking statements be subject to the safe harbors for such statements. We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management's best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events.
OVERVIEW
The Company qualifies as an "emerging growth company" as defined in the
Jumpstart Our Business Startups Act which became law in
Overview of the Business
The Company was formed as a US corporation to use as a vehicle for providing
consulting services, primarily in
The Company seeks to provide management advisory services to business
organizations worldwide. The Company intends to assist smaller developing
companies in the development of business models and strategies. The Company's
initial target markets are
14 Results of Operations
Three Months Ended
The following table summarizes the results of our operations during the three
months ended
Percentage
Increase Increase
Line Item 9/30/20 9/30/19 (Decrease) (Decrease)
Revenues $ 290,152 $ 942 $ 289,210 30,702 %
Cost of Revenues 120,825 - 120,825 100 %
Operating expenses 4,289 25,309 (21,020 ) (83 )%
Net profit (loss) 165,924 (24,423 ) 190,347 779 %
Profit (Loss) per share of
common stock 0.01 (0.00 ) 0.01 inf.
We recorded a net profit of
Nine Months Ended
The following table summarizes the results of our operations during the nine
months ended
Percentage
Increase Increase
Line Item 9/30/20 9/30/19 (Decrease) (Decrease)
Revenues $ 636,211 $ 5,942 $ 630,269 10,607 %
Cost of Revenues 145,855 - 145,855 100 %
Operating expenses 90,082 130,883 (40,801 ) (31 )%
Net profit (loss) 420,551 (125,294 ) 545,845 435 %
Profit (Loss) per share of
common stock 0.02 (0.01 ) 0.03 300 %
We recorded a net profit of
Liquidity and Capital Resources
As of
Management believes that the Company's cash on hand will be sufficient to fund all Company obligations and commitments for the next twelve months. Historically, we have depended on loans from our principal shareholders and their affiliated companies to provide us with working capital as required. There is no guarantee that such funding will be available when required and there can be no assurance that our stockholders, or any of them, will continue making loans or advances to us in the future.
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At
Coronavirus Pandemic
The outbreak of COVID-19 coronavirus in
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 or capital expenditures or capital resources that is material to an investor in our securities.
Seasonality
Our operating results are not affected by seasonality.
Inflation
Our business and operating results are not affected in any material way by inflation.
Critical Accounting Policies
Our financial statements and accompanying notes have been prepared in accordance with GAAP. The preparation of these financial statements requires management to make estimates, judgments, and assumptions that affect reported amounts of assets, liabilities, revenues and expenses. We continually evaluate the accounting policies and estimates used to prepare the financial statements. The estimates are based on historical experience and assumptions believed to be reasonable under current facts and circumstances. Actual amounts and results could differ from these estimates made by management. Certain accounting policies that require significant management estimates and are deemed critical to our results of operations or financial position. Our critical accounting estimates are more fully discussed in Note 2 to our unaudited financial statements contained herein.
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