The following discussion should be read in conjunction with our consolidated
financial statements, including the notes thereto, appearing elsewhere in this
annual report. The following discussion contains forward-looking statements that
reflect our plans, estimates and beliefs. Our actual results could differ
materially from those discussed in the forward looking statements. Factors that
could cause or contribute to such differences include, but are not limited to
those discussed below and elsewhere in this Annual Report. Our audited
consolidated financial statements are stated in
Results of Operations
The following summary of our operations should be read in conjunction with our
audited financial statements for the year ended
We have not earned any revenues from our inception through
Year ended
Year Ended September 30, Changes 2021 2020 Amount %
Operating expenses
- 29,832 100 % Net Income (Loss)$ (13,800 ) $ (21,844 ) $ 8,044 (37%)
Our net loss for the year ended
Liquidity and Capital Working Capital As of As of September 30, September 30, Changes 2021 2020 Amount % Current Assets $ -$ 20,745 $ (20,745 ) (100 %)
Current Liabilities
As at
As at
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As at
Cash Flows Year Ended September 30, Changes 2021 2020 Amount %
Cash flows used in operating activities
(60 activities 13,935 35,089 (21,154 ) %) Net changes in cash$ (20,745 ) $ 20,745 $ (41,490 ) (200 %)
Cash Flow from Operating Activities
We have not generated positive cash flow from operating activities. During the
year ended
Cash Flow from Investing Activities
During the year ended
Cash Flow from Financing Activities
During the year ended
Plan of Operation and Funding
We expect that working capital requirements will continue to be funded through a combination of our existing funds and further issuances of securities. Our working capital requirements are expected to increase in line with the growth of our business.
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Existing working capital, further advances and debt instruments, and anticipated cash flow are expected to be adequate to fund our operations over the next three months. We have no lines of credit or other bank financing arrangements. Generally, we have financed operations to date through the proceeds of the private placement of equity and debt instruments. In connection with our business plan, management anticipates additional increases in operating expenses and capital expenditures relating to: (i) acquisition of inventory; (ii) developmental expenses associated with a start-up business; and (iii) marketing expenses. We intend to finance these expenses with further issuances of securities, and debt issuances. Thereafter, we expect we will need to raise additional capital and generate revenues to meet long-term operating requirements. Additional issuances of equity or convertible debt securities will result in dilution to our current shareholders. Further, such securities might have rights, preferences or privileges senior to our common stock. Additional financing may not be available upon acceptable terms, or at all. If adequate funds are not available or are not available on acceptable terms, we may not be able to take advantage of prospective new business endeavours or opportunities, which could significantly and materially restrict our business operations. We will have to raise additional funds in the next twelve months in order to sustain and expand our operations. We currently do not have a specific plan of how we will obtain such funding; however, we anticipate that additional funding will be in the form of equity financing from the sale of our common stock. We have and will continue to seek to obtain short-term loans from our directors, although no future arrangement for additional loans has been made. We do not have any agreements with our directors concerning these loans. We do not have any arrangements in place for any future equity financing.
Off-Balance Sheet Arrangements
As of the date of this Annual Report, 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 are material to investors.
Going Concern
The independent auditors' review report accompanying our
Contractual Obligations
As a "smaller reporting company", we are not required to provide tabular disclosure obligations.
Off-Balance Sheet Arrangements
We have no 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 stockholders.
Recent Accounting Pronouncements
Management has considered all recent accounting pronouncements issued. Our Company's management believes that these recent pronouncements will not have a material effect on our financial statements.
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