This 10-K contains forward-looking statements. Our actual results could differ
materially from those set forth as a result of general economic conditions and
changes in the assumptions used in making such forward-looking statements. The
following discussion and analysis of our financial condition and results of
operations should be read together with the audited consolidated financial
statements and accompanying notes and the other financial information appearing
elsewhere in this report. The analysis set forth below is provided pursuant to
applicable
12 Plan of Operations
Our plan of operations is to raise debt and/or equity to meet our ongoing operating expenses and attempt to merge with another entity with experienced management and opportunities for growth in return for shares of our common stock to create value for our shareholders. There can be no assurance that we will successfully complete this series of transactions. In particular, there is no assurance that any such business will be located or that any stockholder will realize any return on their shares after such a transaction. Any merger or acquisition completed by us can be expected to have a significant dilutive effect on the percentage of shares held by our current stockholders.
At this time, we have no cash on hand or committed resources of debt or equity to fund these losses and will reliant, potentially, on advances from our principal shareholder or our directors and officers. There can be no guarantee that we will be able to obtain sufficient funding these sources.
RESULTS OF OPERATIONS FOR THE TWELVE-MONTH PERIOD ENDED
Revenue
We recognized no revenue during the twelve months ended
Cost of Revenue
We recognized no cost of revenue during the twelve months ended
General and Administrative Expenses
During the twelve months ended
Operating Loss
During the twelve months ended
Interest and Other Income / (Expenses) Net
As stated above, during the twelve months ended
Gain before Income Tax
During the twelve months ended
Provision for Income Tax
No provision for income taxes was recorded in either the twelve months ended
CASH FLOW FOR THE TWELVE MONTHS ENDED
As of
Consequently, we are now dependent on raising additional equity and/or debt to meet our ongoing operating expenses. There is no assurance that we will be able to raise the necessary equity and/or debt that we will need to fund our ongoing operating expenses.
13
It is our current intention to seek to raise debt and/or equity financing to meet ongoing operating expenses and attempt to merge with another entity with experienced management and opportunities for growth in return for shares of our common stock to create value for our shareholders. There is no assurance that this series of events will be satisfactorily completed.
Future losses are likely to occur as, until we are able to merge with another
entity with experienced management and opportunities for growth in return for
shares of our common stock to create value for our shareholders as we have no
sources of income to meet our operating expenses. As a result of these, among
other factors, we received from our registered independent public accountants in
their report for the financial statements for the year ended
We are now focused raising debt and/or equity financing to meet ongoing operating expenses and attempting to merge with another entity with experienced management and opportunities for growth in return for shares of our common stock to create value for our shareholders. There is no assurance that this series of events will be satisfactorily completed.
Investing Activities
We neither generated nor used funds in investing activities during the twelve
months ended
Financing Activities
We generated funds in financing activities during the twelve months ended
We are dependent upon the receipt of capital investment or other financing to fund our ongoing operations and to execute our business plan of seeking a combination with a private operating company. In addition, we are dependent upon our controlling shareholder to provide continued funding and capital resources. If continued funding and capital resources are unavailable at reasonable terms, we may not be able to implement our plan of operations.
Off-balance Sheet Arrangements
Since our inception through
Recent Accounting Pronouncements
We have adopted all recently issued accounting pronouncements. The adoption of the accounting pronouncements is not anticipated to have a material effect on our operations.
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