The following discussion should be read in conjunction with our consolidated financial statements, including the accompanying notes, appearing elsewhere in this annual report. The following discussion contains forward-looking statements which reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in 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 presented 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 income since our inception through
Year Ended September 30, Changes 2021 2020 Amount %
- 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 %)
including accounts payable and accrued liabilities of
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Cash Flows Year Ended September 30, Changes 2021 2020 Amount %
Cash flow 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 did not generate positive cash flow from operating activities. During the year ended
composed of a net loss of
Cash flow from investing activities
During the year ended
Cash flow from financing activities
During the year ended
made up of
Operation plan and financing
We anticipate that working capital requirements will continue to be funded by a combination of our existing funds and other issuance of securities. Our working capital requirement is expected to increase as our business grows.
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Existing working capital, other advances and debt instruments, and expected cash flows are expected to be sufficient to fund our operations over the next three months. We do not have any lines of credit or other bank financing arrangements. Generally, we have funded our operations to date with the proceeds of the private placement of equity and debt instruments. As part of our business plan, management anticipates additional increases in operating and capital expenditures related to: (i) the acquisition of inventory; (ii) development expenses associated with starting a business; and (iii) marketing costs. We intend to fund these expenses through further issuance of securities and issuance of debt securities. Going forward, we anticipate that we will need to raise additional capital and generate income to meet long-term operating needs. Additional issuance of shares or convertible debt securities will result in dilution for our current shareholders. In addition, these securities may have rights, preferences or privileges greater than our common shares. Additional financing may not be available on acceptable terms, if at all. If adequate funds are not available or are not available on acceptable terms, we may not be able to take advantage of potential new business efforts or opportunities, which could significantly and materially restrict our business operations. We will need to raise additional funds over the next twelve months to support and expand our operations. We currently do not have a specific plan on how we will secure such funding; however, we expect that the additional financing will take the form of equity financing from the sale of our common shares. We have sought and will continue to seek short-term loans from our directors, although no future arrangements for additional loans have been made. We have no agreement with our administrators regarding these loans. We do not have any arrangements in place for future equity financing.
Off-balance sheet provisions
As of the date of this Annual Report, we have no off-balance sheet arrangements that have or that are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, income or expenses, operating results, cash flow, capital expenditures or capital resources that are important to investors.
The independent auditors’ review report accompanying our
the financial statements contained an explanatory paragraph expressing substantial doubt as to our ability to continue to operate. The financial statements have been prepared “on the assumption that we will continue to operate”, which anticipates that we will realize our assets and meet our liabilities and commitments in the normal course of our operations.
As a âsmall reporting companyâ, we are not required to provide tabular disclosure obligations.
Off-balance sheet provisions
We have no off-balance sheet arrangement that has or is reasonably likely to have a current or future effect on our financial condition, changes in financial condition, income or expenses, results of operations, liquidity, capital expenditures or capital resources that are important to shareholders.
Recent accounting positions
Management has taken into consideration all recent accounting pronouncements issued. The management of our company believes that these recent statements will not have a material impact on our financial statements.
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