Going Concern

As of January 31, 2021, the Company has an accumulated deficit of $785,156 and a stockholders' equity of $41,364 and for the three months ended January 31, 2021, had a net loss of $7,306. This raises substantial doubt about its ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company's ability to raise additional capital and implement its business plan. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. Management is taking various steps to provide the Company with the opportunity to continue as a going concern.





Results of Operations

For the three months ended January 31, 2021 and 2020

For the three months period ended January 31, 2021 and 2020, the Company has generated no profit but loss of $7,306 and $6,542 respectively.

For the six months ended January 31, 2021 and 2020

For the six months period ended January 31, 2021 and 2020, the Company has generated no profit but loss of $19,840 and $17,820 respectively.

Liquidity and Capital Resources

As of January 31, 2021, and July 31, 2020, the Company has no cash on hand, but has a total asset entirely consisting due from related party of $264,096 and $284,116 of which is the amount due from Phyto Science Sdn. Bhd.

As of January 31, 2021, and July 31, 2020 the Company has a total liability of $222,732 and $222,912 entirely consist of accounts payable and accrued expenses.

The Company has a working capital of $41,364 and $61,204 as at January 31, 2021, and July 31, 2020 respectively.

Net cash used in operating activities for the year ended January 31, 2021 and 2020 was $0 and $0 respectively. The cash used in operating activities are mainly for professional fees, legal fees, and general expenses.

Critical Accounting Policies

We have identified the policies outlined below as critical to our business operations and an understanding of our results of operations. The list is not intended to be a comprehensive list of all of our accounting policies. In many cases, the accounting treatment of a particular transaction is specifically dictated by accounting principles generally accepted in the United States, with no need for management's judgment in their application.

The Company accounts for income taxes under FASB ASC Topic 740 income taxes ("ASC Topic 740"). Under ASC Topic 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC Topic 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.





2

Recent Accounting Pronouncements

The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and do not believe the future adoption of such any pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.

Off Balance Sheet Transactions

None

© Edgar Online, source Glimpses