General Overview
The Company operates as a public reorganized corporation with the business
purpose to acquire or merge with an existing business operation.
Results of Operations and Financial Condition for the three months ended March
31, 2020, as compared to the three months ended March 31, 2019
The Company had no active business operations for the periods ended March 31,
2020 and March 31, 2019. Expenses consist of accounting and filing fees.
Liquidity and capital resources
The Company had no active business operations for the three months ended March
31, 2020 and 2019. Accordingly, all the Company's cash flow needs were provided
by a related company.
Risk factors
The Company's critical accounting policies are still being applied despite the
fact that the Company has no ongoing business operations.
The Company's operation has not been materially and adversely impacted by the
Covid-19 pandemic. The Company is located in Florida which is subject to a "stay
at home" order effective April 3, 2020. While the Company is able to continue
operations as a public reorganized shell corporation with the purpose to acquire
or merge with an existing business operation that can operate with some of the
staff working from home and minimal staff at the office as long as they maintain
social distancing. Until this stay at home order is lifted the Company will
continue to follow social distancing order. The Company is unable to predict the
impact of the Covid-19 pandemic at this time.
Significant Estimates
The preparation of financial statements in conformity with generally accepted
accounting principles in the United States of America requires management to
make estimates and assumptions that affect the reported amounts of assets and
liabilities, as well as the disclosure of contingent assets and liabilities at
the date of the financial statements and the reported amounts of expenses during
the reporting period. Actual results could differ from those estimates.
Critical Accounting Policies
We prepare our financial statements in conformity with generally accepted
accounting principles in the United States of America. As such, we are required
to make certain estimates, judgments and assumptions that we believe are
reasonable based upon historical experience, current trends and other factors.
These estimates, judgments and assumptions affect the reported amounts of assets
and liabilities at the date of the financial statements and the reported amounts
of revenue and expenses during the periods presented. Actual results could be
different than those estimates.
Off-Balance Sheet Arrangements
We do not have any off-balance sheet arrangements that have or are reasonably
likely to have a current or future effect on our financial condition, changes in
financial condition, revenues or expenses, results of operations, liquidity,
capital expenditures or capital resources that is material to investors.
Market Risks
There has been no material change in market risks since our last Annual Report
on Form 10-K for the year ended December 31, 2019.
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