The following management's discussion and analysis ("MD&A") should be read in
conjunction with financial statements of Taihe Group, Inc. formerly NuOncology
Labs, Inc. (the "Company") for the three and six months ended June 30, 20221 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
Taihe Group, Inc. formerly NuOncology Labs, Inc. (the "Company") 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 Taihe Group, Inc. formerly
NuOncology Labs, Inc.'s MD&A. Readers should not place undue reliance on any
such forward-looking statements. Taihe Group, Inc. formerly NuOncology Labs,
Inc. 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
Taihe Group, Inc. formerly NuOncology Labs, Inc. is a blank check company and
has no operations. Our business plan includes acquisitions of operating
companies. The focus of the Company's future business involves finance, trade,
culture, tourism, real estate, new energy, health care, etc. between China and
Indonesia under the "One Belt and One Road" initiatives in Indonesia. The
Company operates and intends to further obtain a diversified portfolio of
subsidiary companies. With a variety of assets, products, and ancillary
offerings in a variety of industries, management believes the Company's business
model is positioned to capitalize on, and adapt to, changing market conditions.
As of this filing, we have not raised any capital and our business is not yet
operational, and the Company is focused on raising capital for its business
plan.
On March 10, 2022 (the "Effective Date"), Nuoncology Labs, Inc. filed Articles
of Amendment (the "Amendment") with the Florida Secretary of State amending the
Company's Amended Articles of Incorporation to effect:
1) a corporate name changed from Nuoncology Labs, Inc. to Taihe Group, Inc.; and
2) a one-for-thirty thousand (1:30,000) reverse stock split of the Company's
class of common stock with all other aspects to remain unchanged
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 June 30, 2022 and 2021
Revenue
For the three months ended June 30, 2022 and 2021, the Company had not generated
any revenues.
Operating Expenses
Operating expenses for the three months ended June 30, 2022 were $14,150
compared to $0 for the three months ended March 31, 2021. Operating expenses
increased in 2022 due to other professional fee and other general and
administrative fees incurred for this period.
For the three months ended June 30, 2022, professional fees were $5,700, an
increase of $5,700, as compared to $0 for the three months ended of June 30,
2021. The increase is related to accounting and audit fees, and SEC filing fees
between the two periods.
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Other Income and Expenses
For the three and three months ended June 30, 2022 and 2022, the Company did not
have any other income or expenses.
Net Income (Loss)
For the three months ended June 30, 2022, the Company had a net loss of $14,150
compared to the three months ended June 30, 2021 of a net loss of $0. The net
loss resulted from increase of operating expenses
Six Months Ended June 30, 2022 and 2021
Revenue
For the six months ended June 30, 2022 and 2021, the Company had not generated
any revenues.
Operating Expenses
Operating expenses for the six months ended June 30, 2022 were $26,431 compared
to $0 for the six months ended June 30, 2021. Operating expenses increased in
2022 due to other professional fee and other general and administrative fees
incurred for this period.
For the six months ended June 30, 2022, professional fees were $17,981, an
increase of $17,981, as compared to $0 for the six months ended of June 30,
2021. The increase is related to accounting and audit fees, and SEC filing fees
between the two periods.
Other Income and Expenses
For the six months ended June 30, 2022 and 2022, the Company did not have any
other income or expenses.
Net Income (Loss)
For the six months ended June 30, 2022, the Company had a net loss of $26,431
compared to the six months ended June 30, 2021 of a net loss of $0. The net loss
resulted from increase of operating expenses
Liquidity and Capital Resources
As of June 30, 2022, we had no cash and a working capital deficit of $26,431.
Operating Activities
Net cash used in operating activities was $20,331 for the six months ended June
30 ,2022 as compared to $0 for the same period in 2021.
For six months ended June 30 ,2022 net operating loss was $26,431 as compared to
$0 for the six months ended June 30, 2021. Accounts payable and accrued expenses
increased by $6,100 as compared to $0 for the six months ended June 30, 2021.
The increase in accrued expenses is related to other professional fees.
Investing Activities
No investing activities occurred during the six months ended June 30, 2022 and
2021.
Financing Activities
Net cash provided by financing activities was $20,331 for the six months ended
June 30 ,2022 as compared to $0 for the same period in 2021.
During the six months ended June 30, 2022, the Company received advances of
$20,331 from a related party for working capital purposes.
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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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