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 Securities and Exchange Commission ("SEC"). You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this report. We undertake no obligation to publicly release any revisions to the forward-looking statements or reflect events or circumstances after the date of this document.

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 Yinfu Gold Corporation.

Our unaudited financial statements are stated in United States Dollars and are prepared in accordance with United States Generally Accepted Accounting Principles.

Overview

Yinfu Gold Corporation is a Wyoming corporation incorporated on September 1, 2005, under the name Ace Lock & Security, Inc. Our name was changed to Yinfu Gold Corporation as of November 18, 2010. We are working to establish and build a peer-to-peer ("P2P") online lending service platform.

We have had limited operations and based upon our reliance on the sale of our common stock and the advances from our president, these are the source of funds for our future operations.




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Plan of Operation

We devote substantial efforts to establishing a P2P online lending service platform. However, our planned principal operations have not yet commenced.

In 2020, we plan to establish ourselves as a known P2P online lending service provider. We provide an online lending platform that matches lenders directly with the borrowers and charge a commission fee. Through our P2P platform, lenders can earn higher returns compared to savings and investment products offered by banks, where borrowers can borrow money at lower interest rate.

Need for Additional Capital

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

We have generated no revenues and have incurred $1,586,902 in expenses through December 31, 2019.

The following table provides selected financial data about our company as of December 31, 2019 and March 31, 2019.



                                 December 31,       March 31,
                                     2019              2019
Cash                             $         368     $        519
Total Assets                     $       1,330     $      7,558
Total Liabilities                $   1,559,158     $  1,423,662

Stockholders' Equity (Deficit) $ (1,557,828 ) $ (1,416,104 )

As of December 31, 2019, the Company's cash balance was $368 compared to $519 as of March 31, 2019, and our total assets as of December 31, 2019, were $1,330 compared with $7,558 as of March 31, 2019. The decrease in cash and decrease in total assets were immaterial.




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As of December 31, 2019, the Company had total liabilities of $1,559,158 compared with total liabilities of $1,423,662 as of March 31, 2019. The increase in total liabilities was primarily attributed to the increase of advance from the President for operating expenses.



                                Nine Months        Nine Months
                                   Ended              Ended
                                December 31,       December 31,
                                    2019               2018
Revenue                        $            -     $            -
Operating Expenses
General and administrative            122,528            171,208
Professional fees                      29,755             42,395
Total Operating Expenses       $      152,283            213,603
Income (Loss) from Operation   $     (152,283 )   $     (213,603 )



Revenues

The Company has generated no revenues during the three and nine months ended December 31, 2019 and 2018.

Operating expenses

For the nine months ended December 31, 2019, total operating expenses were $152,283, which consisted general and administrative fees and professional fees. For the nine months ended December 31, 2018, total operating expenses were $213,603, which consisted general and administrative fees and professional fees. The decrease in total operating expenses is due to the decrease in salary, professional fees and office rent cost.




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Liquidity and Capital Resources



Working Capital

                                            As of                      As of
                                         December 31,                March 31,
                                             2019                       2019
Current Assets                           $      1,330             $          7,558
Current Liabilities                      $  1,559,158             $      1,423,662
Working Capital Deficiency               $ (1,557,828 )           $     (1,416,104 )

As of December 31, 2019, the Company had a working capital deficiency of $1,557,828
compared with working capital deficiency of $1,416,104 as of March 31, 2019. The
increase in working capital deficiency was primarily attributed to the increase in
current liabilities due to the increase of advance from the President for operating
expenses.

Cash Flows
                                         Nine Months                Nine Months
                                            Ended                      Ended
                                         December 31,               December 31,
                                             2019                       2018
Cash Flows Used in Operating
Activities                               $   (125,876 )           $       (269,120 )
Cash Flows Provided by Investing
Activities                               $          -             $              -
Cash Flows Provided by Financing
Activities                               $    125,217             $        196,639
Effects on change in foreign
exchange rate                            $       (508 )           $         18,166
Net Decrease in Cash During Period       $       (151 )           $        (54,315 )

Cash Flows Used in Operating Activities

During the nine months ended December 31, 2019, the Company had $125,876 in cash used in operating activities, which was attributed from loss from operations of $152,283 and increase in accounts payable and accrued liabilities of $24,126 and decrease in other receivables of $2,281.

During the nine months ended December 31, 2018, the Company had $269,120 in cash used in operating activities, which was attributed from loss from operations of $213,603, increase of other receivables of $138 and decrease in accounts payable and accrued liabilities of $55,379.

Cash Flows Provided by Investing Activities

During the nine months ended December 31, 2019 and 2018, the Company used no cash in investing activities.

Cash Flows Provided by Financing Activities

During the nine months ended December 31, 2019, the President has advanced the Company $126,643 for operating expenses.

During the nine months ended December 31, 2018, the President has advanced the Company $196,897 for operating expenses.

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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