Operating results for the year ended December 30, 2020 and the year ended
December 30, 2019
Our results of operations for the years ended December 31, 2020 and 2019 are
2020 2019 Change
Revenue $ - $ - $ -
Operating expenses $ 109,355 $ - 109,355
Net loss $ (109,355 ) $ - $ 109,355
Revenues and Other Income
In the past years December 31, 2020 and 2019, we did not realize any operating income.
The operating expenses consist of the management costs of $ 109,355 in the year ended
December 31, 2020, compared to $ 0 in the year ended December 31, 2019. The Company recorded management fees to the Chief Executive Officer (CEO) for the salary of $ 19,355 and the stock-based compensation of $ 90,000 for the issuance of Series A preferred shares.
Due to the above, we have suffered a net loss of $ 109,355, for the year ended December 31, 2020, compared to a net loss of $ 0 for the corresponding year ended December 31, 2019.
Liquidity and capital resources
December 31, December 31.
2020 2019 Change
Cash and cash equivalents $ - $ - $ -
Current Assets $ - $ - $ -
Current Liabilities $ 9,355 $ - $ 9,355
Working Capital (Deficiency) $ (9,355 ) $ - $ (9,355 )
From December 31, 2020 and 2019, we had no money.
From December 31, 2020, we had no short-term assets, we had liabilities of $ 9,355, and our working capital shortfall was $ 9,355.
Cash flow from operating activities – $ – Cash flow from investing activities – $ – Cash flow from financing activities – $ – Net change in cash
$ - $ -
Table of Contents
For the year ended December 31, 2020, the net cash flows from operating activities were $ 0, consisting of a net loss of $ 109,355, less stock-based compensation of 100,000 and due to a related party of $ 9,355. For the year ended
December 31, 2019, the net cash used in operating activities was $ 0.
Off-balance sheet provisions
We have no “off-balance sheet arrangements”.
Critical accounting policies
The discussion and analysis of our financial condition and results of operations is based on our financial statements, which have been prepared in accordance with generally accepted accounting principles in United States of America. The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and expenses. These estimates and assumptions are affected by the application of accounting policies by management. We believe that understanding the basis and nature of the estimates and assumptions involved in the following aspects of our financial statements is essential to understanding our financial statements.
Use of Estimates
The preparation of financial statements in accordance with generally accepted accounting principles in United States of America 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. Estimates and judgments will also affect the amounts reported for certain expenses during the reporting period. Actual results could differ from these good faith estimates and judgments.
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