This annual report on Form 10-K contains forward-looking statements within the meaning of the federal securities laws. These include statements about our expectations, beliefs, intentions or strategies for the future, which we indicate by words or phrases such as "anticipate," "expect," "intend," "plan," "will," "we believe," "management believes" and similar language. Except for the historical information contained herein, the matters discussed in this "Management's Discussion and Analysis of Financial Condition and Results of Operations," and elsewhere in this current report on Form 10-K are forward-looking statements that involve risks and uncertainties. The factors listed in the section captioned "Risk Factors," as well as any cautionary language in this current report on Form 10-K, provide examples of risks, uncertainties and events that may cause our actual results to differ materially from those projected. Except as may be required by law, we undertake no obligation to update any forward-looking statement to reflect events after the date of this current report on Form 10-K.





Overview

We intend for this discussion to provide information that will assist in understanding our financial statements, the changes in certain key items in those financial statements, and the primary factors that accounted for those changes, as well as how certain accounting principles affect our financial statements.

Our company has experienced net losses to date, and it has not generated revenue from operations, we will need additional working capital to service debt and for ongoing operations, which raises substantial doubt about our ability to continue as a going concern. Management of our company has developed a strategy to meet operational shortfalls which may include equity funding, short term or long term financing or debt financing, to enable our company to reach profitable operations. If we fail to generate positive cash flow or obtain additional financing, when required, we may have to modify, delay, or abandon some or all of our business and expansion plans





Corporate History

Fiscal Years Ended August 31, 2020 and 2019

The following discussion and analysis should be read in conjunction with our company's audited financial statements for the fiscal years ended August 31, 2020 and 2019 and accompanying notes appended thereto that are included in this annual report.





Results of Operations

Year Ended August 31, 2020 Compared to August 31, 2019





Our operating results for the year ended August 31, 2020 and August 31, 2019,
and the changes between those periods for the respective items are summarized as
follows:



                        Ended           Ended
                     August 31,       August 31,
                        2020             2019         Changes $      Change %

Revenues             $       794     $      2,774     $   (1,980 )       (71%)
Operating Expenses   $    40,414     $     35,632     $    4,782            13 %
Other Expenses       $    93,501     $          -     $   93,501             -
Net loss             $  (133,121 )   $    (32,858 )   $ (100,263 )         305 %

On December 1, 2018, we entered into a Share Sale and Purchase Agreement with No Tie LLC. The Acquisition closed on January 25, 2019. At closing, No Tie became a subsidiary of our company.

During the year ended August 31, 2020 and August 31, 2019, we incurred total net loss of $133,121 and $32,858, respectively.






         20

  Table of Contents

We had sales for the year ended August 31, 2020 as compared to $2,774 revenue from mobile application sales during the year ended August 31, 2019. The Company started to recognize mobile application sales since the acquisition of No Tie LLC on January 25, 2019.

Operating expenses were $40,414 for the year ended August 31, 2020, compared to $35,362 for the year ended August 31, 2019 due to the increase in professional fees incurred with respect to the requirements for public reporting.

Other expenses incurred during the year ended August 31, 2020 were $93,501 consisting of note discount amortization of $80,085 and note interest of $13,416.

Liquidity and Capital Resources





Working Capital



                                  As of           As of
                               August 31,       August 31,
                                  2020             2019         Changes $      Change %

Current Assets                 $         -     $      2,326     $   (2,326 )      (100%)
Current Liabilities            $   105,599     $     54,890     $   50,709            92 %

Working Capital (Deficiency) $ (105,599 ) $ (52,564 ) $ (53,035 ) 101 %






As of August 31, 2020, we had a working capital deficit of $105,599 compared to
a working capital deficit of $52,564 as of August 31, 2019. The increase in
working capital deficiency was mainly due to the increase in convertible note
issued for payment made for operation expense on behalf of the Company and
accrued interest.



Cash Flows



                                         Year             Year
                                        Ended            Ended
                                      August 31,       August 31,
                                         2020             2019          Changes      Change %

Net cash used in operating                                                              (15%)
activities                           $    (35,694 )   $    (41,863 )   $   6,169
Net cash provided by investing                                                         (100%)
activities                           $          -     $         53     $     (53 )
Net cash provided by financing                                                          (22%)
activities                           $     33,846     $     43,658     $  (9,812 )
Net increase(decrease) in cash and                                                     (200%)
cash equivalents                     $     (1,848 )   $      1,848     $  (3,696 )

Cash Flow from Operating Activities

During the year ended August 31, 2020, net cash used in operating activities was $35,694, related to our net loss of $133,121, decreased by note discount amortization of $80,086 and net changes in operating assets and liabilities of $17,341.

During the year ended August 31, 2019, net cash used in operating activities was $41,863, related to our net loss of $32,858, increased by net changes in operating assets and liabilities of $9,005.






         21

  Table of Contents

Cash Flow from Investing Activities

During the year ended August 31, 2020, we had no investing activities.

During the year ended August 31, 2019, net cash provided by investing activities was $53 from acquisition of net cash from No Tie LLC.

Cash Flow from Financing Activities

During the year ended August 31, 2020 and August 31, 2019, net cash provided by financing activities was $33,846 from proceeds from issuance of convertible note and $43,658 from advancement from the director, respectively.

Off-Balance Sheet Arrangements

We have no 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 stockholders.

Off-Balance Sheet Arrangements

As of August 31, 2020, the Company had no off-balance sheet arrangements.

Critical Accounting Policies

We believe that the following accounting policies are the most critical to aid you in fully understanding and evaluating this "Management's Discussion and Analysis of Financial Condition and Results of Operation."





Use of Estimates

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States 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 consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. These estimates are reviewed periodically, and, as adjustments become necessary, they are reported in earnings in the period in which they become known. The estimates on depreciation were based on the estimated useful lives of our company's assets. Any estimates during the period have had an immaterial effect on earnings.

Recent Accounting Pronouncements

Our company has implemented all new accounting pronouncements and does not believe that there are any other accounting pronouncements that have been issued that may have a material impact on its financial statements.

© Edgar Online, source Glimpses