KANGE: Discussion and analysis by management of the financial position and operating results (Form 10-Q)
This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Rule 175 of the Securities Act of 1933, as amended, and Rule 3b-6 of the Securities Act of 1934, as amended, that involve risks and substantial uncertainties. . These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about our industry, our beliefs and our assumptions. Words such as “anticipate”, “expect”, “intend”, “plan”, “believe”, “seek” and “estimate” and variations of such words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or provided for in forward-looking statements. You should not place undue reliance on these forward-looking statements, which only apply as of the date of this Form 10-
Description of Company
The Company is a start-up that was incorporated in
We have had limited operations and received a âgoing concernâ opinion from our auditor on our financial statements for the year ended.
The following MD&A should be read in conjunction with the financial statements and accompanying notes included in this Form 10-Q.
Reports to Securityholders
The Company is not required to file reports under Section 13 or 15 (d) of the Securities Exchange Act of 1934, and is a âvoluntary depositorâ. As a voluntary depositor, the Company intends to provide its shareholders with annual reports containing financial statements audited by its registered independent accounting firm and to make available quarterly reports containing unaudited financial statements for each. of the first three quarters of each year, but is not required to do so. The Company files quarterly reports on Form 10-Q, annual reports on Form 10-K and routine reports on Form 8-K with the
Available Information
All Company reports filed with the
Results of Operations
The following discussion and analysis of our financial condition and results of operations should be read in conjunction with the financial statements and accompanying notes for the three months ended.
Our financial statements are presented in
(âGAAPâ).
4 Table of Contents Going Concern Qualification
The Company’s financial statements are prepared in accordance with GAAP applicable to going concern. This contemplates the realization of assets and liquidation of liabilities in the ordinary course of business. At present, the Company does not have significant assets, nor sufficient operating or revenue stream to cover its operating costs and allow it to continue operating. The Company has an accumulated deficit of
The officers and directors are committed to advance certain operating expenses of the Company, including the costs of complying with being a public company.
For the three months ended
Our operating results for the three months ended
Three Months Ended February 28, February 29, Change 2021 2020 Amount Operating loss$ (1,000 ) $ (1,100 ) $ 100 Net loss$ (1,000 ) $ (1,100 ) $ 100
During the three months ending
Liquidity and capital resources
Based on our current financial situation, we do not have sufficient liquidity to operate our business at the current level for the next twelve months. We intend to finance our operations through debt and / or equity financing arrangements, which may be insufficient to fund expenses or other cash requirements. We plan to seek additional financing within the framework of a private equity offer to secure the financing of the operations. There can be no assurance that we will be successful in raising additional funds. If we are unable to secure additional funding, the implementation of our business plan will be jeopardized. There can be no assurance that such additional financing will be available to us on acceptable terms, if at all.
Working Capital
The following table shows our working capital at
As of As of February 28, November 30, Change 2021 2020 Amount Percentage Current Assets $ - $ - $ - - Current Liabilities 22,776 21,776 1,000 5 % Working Capital$ (22,776 ) $ (21,776 ) $ (1,000 ) (5 %)
The change in working capital during the closed quarter
5 Table of Contents Cash Flow
We finance our operations with cash received from senior management and related party advances and equity issues.
The following tables present our cash flows for the three months ended.
Three Months EndedFebruary 28 ,February 29, 2021 2020
Cash (used in) operating activities
Cash provided by fundraising activities
1,000 2,500 Net change in cash for the period $ - $ -
Cash flow from operating activities
We did not generate positive cash flow from operating activities for the three months ended
For the three months ended
For the three months ended
Cash flow from investing activities
For the three months ended
Cash flow from financing activities
For the three months ended
Off-balance sheet provisions
The Company does not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on the financial position of the Company, changes in the financial position, income or expenses, results of operating, liquidity, capital expenditure or capital resources. that are important to investors.
Critical Accounting Policies
Use of estimates. The preparation of financial statements in accordance with generally accepted accounting principles in
requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expense during the reporting period . Actual results could differ from these estimates.
6 Table of Contents
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