The following management's discussion and analysis ("MD&A") should be read in
conjunction with financial statements of Asiarim Corp. aka Un Monde
International Worldwide Ltd. for the three months ended September 30, 2022 and
2021, and the notes thereto.
Safe Harbor for Forward-Looking Statements
Certain statements included in this MD&A constitute forward-looking statements,
including those identified by the expressions anticipate, believe, plan,
estimate, expect, intend, and similar expressions to the extent they relate to
Asiarim Corp. aka Un Monde International Worldwide Ltd. or its management. These
forward-looking statements are not facts, promises, or guarantees; rather, they
reflect current expectations regarding future results or events. These
forward-looking statements are subject to risks and uncertainties that could
cause actual results, activities, performance, or events to differ materially
from current expectations. These include risks related to revenue growth,
operating results, industry, products, and litigation, as well as the matters
discussed in Asiarim Corp. aka Un Monde International Worldwide Ltd.'s MD&A.
Readers should not place undue reliance on any such forward-looking statements.
Asiarim Corp. aka Un Monde International Worldwide Ltd. disclaims any obligation
to publicly update or to revise any such statements to reflect any change in the
Company's expectations or in events, conditions, or circumstances on which any
such statements may be based, or that may affect the likelihood that actual
results will differ from those set forth in the forward-looking statements.
Overview
Asiarim Corp. aka Un Monde International Worldwide Ltd is a developmental stage
company that focus on offering education and management services to private,
distinguished, specialized, and internationalized education to international
students in schools. We anticipate implementing our business within the next 12
months.
Results of Operations
The following discussion of our financial condition and results of operations
should be read in conjunction with our financial statements and the related
notes included in this report.
Three Months Ended September 30, 2022 and 2021
Revenue
For the three months ended September 30, 2022 and 2021, the Company had not
generated any revenues.
Operating Expenses
Operating expenses for the three months ended September 30, 2022 were $15,468
compared to $8,603 for the three months ended September 30, 2021.
The decrease of operating expenses is due to additional expenses incurred in
2021 as a result of the change of control of the Company in 2021 and for
becoming a public reporting company
Other Income and Expenses
For the three months ended September 30, 2022 and 2021, the Company did not have
any other income or expenses.
Net Income (Loss)
For the three months ended September 30, 2022, the Company had a net loss of
$12,857 compared to the three months ended September 30, 2021 of a net loss of
$38,097.
12
Nine Months Ended September 30, 2022 and 2021
Revenue
For the nine months ended September 30, 2022 and 2021, the Company had not
generated any revenues.
Operating Expenses
Operating expenses for the nine months ended September 30, 2022 were $30,197
compared to $46,700 for the nine months ended September 30, 2021.
The decrease of operating expenses is due to additional expenses incurred in
2021 as a result of the change of control of the Company in 2021 and for
becoming a public reporting company.
Other Income and Expenses
For the nine months ended September 30, 2022 and 2021, the Company did not have
any other income or expenses.
Net Income (Loss)
For the nine months ended September 30, 2022, the Company had a net loss of
$30,197 compared to the nine months ended September 30, 2021 of a net loss of
$46,700.
Liquidity and Capital Resources
As of September 30, 2022, we had no cash and a working capital deficit of
$96,269.
The Company has not generated any revenues from operations, and may be unable to
fund on-going activities. We cannot guarantee that we will be successful in our
business operations. Our business is subject to risks inherent in the
establishment of a new business enterprise, including limited capital resources,
possible delays in developing our own hardware and software, and the possibility
of new regulations that will make our company difficult or impossible to
operate.
If we are unable to meet our needs for cash from either our operations, or
possible alternative sources, then we may be unable to continue, develop, or
expand our operations.
If we are unable to complete any phase of our development program or fail to
raise additional capital to maintain our operations in the future, we may be
unable to carry out our full business plan or we may be forced to cease
operations.
The Company's related party will continue to advance the necessary capital to
pay the expenses of the Company and there are no formal financing agreements in
place. The outstanding amount due to related parties was $79,873 and $62,308 as
of September 30, 2022 and December 31, 2021.
Operating Activities
Net cash used in operating activities were $17,565 for the nine months ended
September 30, 2022 and $39,389 for the same period ended 2021. The change
resulted from net operating loss decrease of $16,503. Accounts payable and
accrued expenses increased by $12,632 from $3,764 at December 31, 2021 to
$16,396 at September 30, 2022. The increase in accounts payable and accrued
expenses is related to other professional fee and administration expenses
incurred and payable during the period.
13
Investing Activities
No investing activities occurred during the nine months ended September 30, 2022
and 2020.
Financing Activities
Net cash provided by financing activities were $17,565 for the nine months ended
September 30, 2022 and $39,389 for the same period ended in 2021. The Company
received advances of $17,565 and $39,389 from a related party for working
capital purposes for the nine months ended September 30, 2022 and 2021,
respectively.
Off-Balance Sheet Arrangements
There are no off-balance sheet arrangements with any party.
Critical Accounting Policies
Our discussion and analysis of results of operations and financial condition are
based upon our condensed consolidated financial statements, which have been
prepared in accordance with accounting principles generally accepted in the
United States of America. The preparation of these condensed consolidated
financial statements requires us to make estimates and judgments that affect the
reported amounts of assets, liabilities, revenues and expenses, and related
disclosure of contingent assets and liabilities. We evaluate our estimates on an
ongoing basis, including those related to provisions for uncollectible accounts
receivable, inventories, valuation of intangible assets and contingencies and
litigation. We base our estimates on historical experience and on various other
assumptions that are believed to be reasonable under the circumstances, the
results of which form the basis for making judgments about the carrying values
of assets and liabilities that are not readily apparent from other sources.
Actual results may differ from these estimates under different assumptions or
conditions.
The accounting policies that we follow are set forth in Note 2 to our financial
statements as included in the SEC report filed. These accounting policies
conform to accounting principles generally accepted in the United States and
have been consistently applied in the preparation of the financial statements.
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