Forward-Looking Statements
Except for historical information, this report contains forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Such forward-looking
statements involve risks and uncertainties, including, among other things,
statements regarding our business strategy, future revenues and anticipated
costs and expenses. Such forward-looking statements include, among others, those
statements including the words "expects", "anticipates", "intends", "believes"
and similar language. Our actual results may differ significantly from those
projected in the forward-looking statements. Factors that might cause or
contribute to such differences include, but are not limited to, those discussed
in the sections "Business", "Risk Factors" and "Management's Discussion and
Analysis of Financial Condition and Results of Operations". You should carefully
review other documents we file from time to time with the
Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements.
All references in this Form 10-Q to the "Company", "Yinfu", "we", "us" or "our"
are to
Our unaudited 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.
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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.
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
Three Months Ended
Three months Three months ended ended September 30, September 30, 2022 2021 Fluctuation % Revenue $ - $ - $ - N/A Operating Expenses: General and administrative 96,310 103,388 (7,078 ) -7 % Professional fees 16,395 20,730 (4,335 ) -21 % Total Operating Expenses 112,705 124,118 (11,413 ) -9 % Net loss from Operations (112,705 ) (124,118 ) 11,413 -9 % Net loss$ (112,550 ) $ (124,368 ) $ 11,818 -10 % Revenues
The Company has generated no revenues during the three months ended
Operating expenses
For the three months ended
Six Months Ended
Six months Six months ended ended September 30, September 30, 2022 2021 Fluctuation % Revenue $ - $ - $ - N/A Operating Expenses: General and administrative 195,646 206,680 (11,034 ) -5 % Professional fees 37,465 28,994 8,471 29 % Total Operating Expenses 233,111 235,674 (2,563 ) -1 % Net loss from Operations (233,111 ) (235,674 ) 2,563 -1 % Net loss$ (232,123 ) $ (235,924 ) $ 3,801 -2 % Revenues
The Company has generated no revenues during the six months ended
Operating expenses
For the six months ended
The following table provides selected financial data about our company as of
September 30, March 31, 2022 2022 Cash $ 2,108$ 525 Total Assets$ 36,186 $ 13,321 Total Liabilities$ 2,596,437 $ 2,457,748
Stockholders' Equity (Deficit)
As of
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As of
Liquidity and Capital Resources
Working Capital September 30, March 31, 2022 2022 Current Assets $ 9,761$ 6,840 Current Liabilities$ 2,596,437 $ 2,457,748 Working Capital Deficiency$ (2,586,676 ) $ (2,450,908 )
As of
Cash Flows Six Months Six Months Ended EndedSeptember 30 ,September 30, 2022 2021
Cash Flows Used in Operating Activities
- $ -
Cash Flows Provided by Financing Activities
(41 ) $ (6 ) Net increase (decrease) in Cash During Period $ 1,583 $ 240
Cash Flows Used in Operating Activities
During the six months ended
During the six months ended
Cash Flows Provided by Investing Activities
During the six months ended
Cash Flows Provided by Financing Activities
During the six months ended
During the six months ended
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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