The following discussion should be read in conjunction with our audited financial statements and the related notes that appear elsewhere in this annual report. The following discussion contains forward-looking statements based upon current expectations that involve risks and uncertainties, such as our plans, objectives, expectations and intentions. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of a number of factors, including those set forth under the Item 1A.
Our audited financial statements are stated in
Overview
We have had limited operations and based upon our reliance on the sale of our common stock and the advances from our president, there are no assurances of any future source of funds for our operations.
Plan of Operation
We devote substantial efforts to enter into new-emerging application industries of Internet Technology, Artificial Intelligence (AI) and the Internet of Things (IOT).. However, our planned principal operations have not yet commenced.
Need for
The Company has not generated any revenues from operations, and may be unable to fund on-going activities. We cannot guarantee that 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, possible delays in developing our own hardware and software, and the possibility of new regulations that will make our company difficult or impossible to operate.
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If we are unable to meet our needs for cash from either our operations, or possible alternative sources, then we may be unable to continue, develop, or expand our operations.
If we are unable to complete any phase of our development program or fail to raise additional capital to maintain our operations in the future, we may be unable to carry out our full business plan or we may be forced to cease operations.
Results of Operations
We have generated no revenues and have incurred
The following table provides selected financial data about our company as of
March 31, March 31, 2022 2021 Cash$ 525 $ 300 Total Assets 13,321 81,630 Total Liabilities 2,457,748 2,024,936 Stockholders' Deficit$ (2,444,427 ) $ (1,943,306 )
As of
As of
Year Ended Year Ended March 31, March 31, 2022 2021 Revenue $ - $ - Operating Expenses General and administrative 416,283 211,426 Professional fees 56,520 75,055 Total Operating Expenses 472,803 286,481 Loss from Operations$ (472,803 ) $ (286,481 ) Revenues
The Company has generated no operating revenues during the years ended
Operating expenses
For the year ended
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Liquidity and Capital Resources
Working Capital As of As of March 31, March 31, 2022 2021 Current Assets$ 6,840 $ 1,995 Current Liabilities$ 2,457,748 $ 2,024,936 Working Capital Deficiency$ (2,450,908 ) $ (2,022,941 )
As of
Cash Flows Year Ended Year EndedMarch 31 ,March 31, 2022 2021
Cash Used in Operating Activities$ (172,771 ) $ (348,186 ) Cash Used in Investing Activities $ - $ - Cash Provided by Financing Activities$ 172,981 $ 347,678
Effects on changes in foreign exchange rate
Cash Flows Used in Operating Activities
During the year ended
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Cash Flows Used in Investing Activities
During the years ended
Cash Flows Provided by Financing Activities
Financing activities for both 2022 and 2021 mainly referred to the proceeds from related party for operating.
Mr.
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.
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