The information contained in this quarter report on Form 10-Q is intended to
update the information contained in our Annual Report on Form 10-K for the year
ended January 31, 2022 and presumes that readers have access to, and will have
read, the "Management's Discussion and Analysis of Financial Condition and
Results of Operations" and other information contained in such Form 10-K. The
following discussion and analysis also should be read together with our
consolidated financial statements and the notes to the consolidated financial
statements included elsewhere in this Form 10-Q.
The following discussion contains certain statements that may be deemed
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. Such statements appear in a number of places in
this Report, including, without limitation, "Management's Discussion and
Analysis of Financial Condition and Results of Operations." These statements are
not guarantees of future performance and involve risks, uncertainties and
requirements that are difficult to predict or are beyond our control.
Forward-looking statements speak only as of the date of this quarterly report.
You should not put undue reliance on any forward-looking statements. We strongly
encourage investors to carefully read the factors described in our Form S-1
Amendment No.5, dated May 3, 2019 in the section entitled "Risk Factors" for a
description of certain risks that could, among other things, cause actual
results to differ from these forward-looking statements. We assume no
responsibility to update the forward-looking statements contained in this
transition report on Form10-Q. The following should also be read in conjunction
with the unaudited Condensed Consolidated Financial Statements and notes thereto
that appear elsewhere in this report.
Results of Operation
For the three and six months ended July 31, 2022
For the three months periods ended July 31, 2022 and 2021, we realized revenue
in amount of $0 and $0, respectively. For the six months periods ended July 31,
2022 and 2021, we realized revenue in amount of $0 and $0, respectively.
Result of operation for the three months ended July 31, 2022 and 2021, we
realized cost of revenue in amount of $0 and $0, respectively. Result of
operation for the six months ended July 31, 2022 and 2021, we realized cost of
revenue in amount of $0 and $0, respectively.
The overall gross loss for the Company was $0 and $ for the three months ended
July 31, 2022 and 2021, respectively. The overall gross profit (or loss) for the
Company was $0 and $0 for the six months ended July 31, 2022 and 2021,
respectively.
Our net loss was $9,310 and $19,112 for the three months ended July 31, 2022 and
2021, respectively. Our net loss was $25,973 and $19,112 for the six months
ended July 31, 2022 and 2021, respectively.
Liquidity and Capital Resources
As of July 31, 2021, we had cash and cash equivalents of $0. We have a negative
operating cash flows of $20,923 and our working capital has been and will
continue to be significant. As a result, we depend substantially on our previous
financing activities to provide us with the liquidity and capital resources we
need to meet our working capital requirements and to make capital investments in
connection with ongoing operations. The Company expects its current capital
resources to meet our basic operating requirements for approximately twelve
months.
Operating Activities
For the six months periods ended July 31, 2022, net cash used in operating
activities was $20,923, compared to net cash used in operating activities of
$12,097 for the six months periods ended July 31, 2021.
Investing Activities
For the six months periods ended July 31, 2022, net cash provided by investing
activities was $0, compared to net cash provided by investing activities of $0
for the six months periods ended July 31, 2021.
Financing Activities
For the six months periods ended July 31, 2022 net cash used in financing
activities was $20,923. For the six months periods ended July 31, 2021, net cash
provided by finance activities was $12,097.
Credit Facilities
We do not have any credit facilities or other access to bank credit.
Contractual Obligations, Commitments and Contingencies
We currently have a lease agreement in place with respect to office premises in
Beijing China to commence our business operations.
Off-balance Sheet Arrangements
We have no significant off-balance sheet arrangements that have or are
reasonably likely to have a current or future effect on our financial condition,
changes in our financial condition, revenues or expenses, results of operations,
liquidity, capital expenditures or capital resources that are material to our
stockholders as of July 31, 2022.
Recent accounting pronouncements
The Company has reviewed all recently issued, but not yet effective, accounting
pronouncements and do not believe the future adoption of any such pronouncements
may be expected to cause a material impact on its financial condition or the
results of its operations.
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