This section of this Form 10-Q includes a number of forward-looking statements
that reflect our current views with respect to future events and financial
performance. Forward-looking statements are often identified by words like
believe, expect, estimate, anticipate, intend, project and similar expressions,
or words which, by their nature, refer to future events. You should not place
undue certainty on these forward-looking statements. These forward-looking
statements are subject to certain risks and uncertainties that could cause
actual results to differ materially from our predictions.
Results of Operations
For the three-month periods ended June 30, 2022 and 2021, we had no revenue.
Expenses for the three-month period ended June 30, 2022 totaled $11,585
resulting in a net loss of $11,585. The net loss for the three-month period
ended June 30, 2022 is a result of general and administrative expense of
$11,585, comprised of filing fees of $1,000; and professional fees of $10,585
comprised primarily of accounting and consulting fees. Expenses for the
comparative three-month period ended June 30, 2021 is a result of general and
administrative expenses totaling $5,494 resulting in a net loss of $5,494
comprised of $1,600 transfer agent expenses; filing fees of $1,000 and
professional fees of $2,894 comprised primarily of accounting fees. The increase
in expenses between June 30, 2022 and 2021 was primarily due to an increase in
professional fees, between the two comparative periods.
For the six-month periods ended June 30, 2022 and 2021, we had no revenue.
Expenses for the six-month period ended June 30, 2022 totaled $32,941 resulting
in a net loss of $32,941. The net loss for the six-month period ended June 30,
2022 is a result of general and administrative expense of $32,941, comprised of
filing fees of $1,146; and professional fees of $31,795 comprised primarily of
accounting and consulting fees. Expenses for the comparative six-month period
ended June 30, 2021 is a result of general and administrative expenses totaling
$15,545 resulting in a net loss of $15,545 comprised of $1,700 transfer agent
expenses; filing fees of $1,179 and professional fees of $12,666 comprised
primarily of accounting fees and consulting fees. The increase in expenses
between June 30, 2022 and 2021 was primarily due to an increase in professional
fees, between the two comparative periods.
Capital Resources and Liquidity
No substantial revenues are anticipated until we have implemented our plan of
operations. With the exception of cash advances from our sole Officer and
Director, we have no other source for funding the Company at this time. We must
raise cash to implement our strategy and stay in business. If we are unable to
raise additional funds, there is substantial doubt as to our ability to continue
as a going concern.
As of June 30, 2022, we had $nil in cash as compared to $nil in cash at December
31, 2021. The funds available to the Company will not be sufficient to fund the
planned operations of the Company and maintain operations. As of June 30, 2022,
the Company's sole officer and director, Mr. Michael Rosen, has loaned the
Company $12,560 and a shareholder of the Company has loaned the Company
$152,523. Both parties have indicated they are willing to make additional
financial commitments if required to maintain the operating status of the
Company, in the form of a non-secured loan for the next twelve months if no
other funds are obtained by the Company, but the total amount that they are
willing to invest has not yet been determined and there is no contract or
written agreement in place.
On September 30, 2021 the former CEO sold/assigned their shareholder loan of
$127,304 to a separate shareholder of the Company. The balance due is unsecured
and non-interest-bearing with no set terms of repayment.
Since our inception of April 20, 2015, we have started pre-launch operations,
beginning with the design of our first line of swimwear under the brand name
DS-Series. We have also initiated the design of our web-site and have launched
the preliminary website during the period. We are still in the process of
sourcing third-party manufacturers to produce our swimwear line.
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Table of Contents
Off-balance sheet arrangements
Other than the situation described in the section titled Capital Recourses and
Liquidity, the company has no off-balance sheet arrangements that have or are
reasonably likely to have a current or future effect or change on the Company's
financial condition, revenues or expenses, results of operations, liquidity,
capital expenditures or capital resources that are material to investors. The
term "off-balance sheet arrangement" generally means any transaction, agreement
or other contractual arrangement to which an entity unconsolidated with the
Company is a party, under which the Company has (i) any obligation arising under
a guarantee contract, derivative instrument or variable interest; or (ii) a
retained or contingent interest in assets transferred to such entity or similar
arrangement that serves as credit, liquidity or market risk support for such
assets.
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