OLMM OneLife Technologies Corporation (CE)

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Cautionary Statements

This Form 10-Q may contain "forward-looking statements," as that term is used in federal securities laws, about OneLife Technologies Corp. financial condition, results of operations and business.

These statements include, among others:

 statements concerning the potential benefits that OneLife Technologies Corp. (“OneLife”, “we”, “our”, “us”, the “Company”, or “management”) may experience from its business activities and certain transactions it contemplates or has completed; and 

 statements of OneLife's expectations, beliefs, future plans and strategies, anticipated developments and other matters that are not historical facts. These statements may be made expressly in this Form 10-Q. You can find many of these statements by looking for words such as "believes," "expects," "anticipates," "estimates," "opines," or similar expressions used in this Form 10-Q. These forward-looking statements are subject to numerous assumptions, risks and uncertainties that may cause OneLife's actual results to be materially different from any future results expressed or implied by OneLife in those statements. The most important facts that could prevent OneLife from achieving its stated goals include, but are not limited to, the following: 

(a) volatility or decline of OneLife's stock price; 

(b) potential fluctuation of quarterly results; 

(c) failure of OneLife to earn revenues or profits; 

(d) inadequate capital to continue or expand its business, and inability to raise additional capital or financing to implement its business plans; 

(e) decline in demand for OneLife's products and services; 

(f) rapid adverse changes in markets; 

(g) litigation with or legal claims and allegations by outside parties against OneLife, including but not limited to challenges to OneLife's intellectual property rights; and 

(h) insufficient revenues to cover operating costs; 

There is no assurance that OneLife will be profitable, OneLife may not be able to successfully develop, manage or market its products and services, OneLife may not be able to attract or retain qualified executives and personnel, OneLife may not be able to obtain customers for its products or services, additional dilution in outstanding stock ownership may be incurred due to the issuance of more shares, warrants and stock options, or the exercise of outstanding warrants and stock options, and other risks inherent in OneLife' businesses.

Because the statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by the forward-looking statements. OneLife cautions you not to place undue reliance on the statements, which speak only as of the date of this Form 10-Q. The cautionary statements contained or referred to in this section should be considered in connection with any subsequent written or oral forward-looking statements that OneLife or persons acting on its behalf may issue. OneLife does not undertake any obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date of this Form 10-Q, or to reflect the occurrence of unanticipated events.

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Corporate Background

We were incorporated on January 9, 2014 under the laws of the state of Nevada. We have predominately been involved in administrative activities such as marketing, establishing relationships with service providers and establishing our office facilities.

As of April 21, 2017, Robert J. Wagner was appointed as the sole member of the Company’s Board of Directors and as the Company’s President, Chief Executive Officer, Chief Financial Officer, Treasurer, and Secretary.

Employees

Currently, we do not have any employees other than our sole director and officer. We do not expect any material changes in the number of employees over the next 12-month period. We do and will continue to outsource contract employment as needed.

We engage contractors from time to time to consult with us on specific corporate affairs or to perform specific tasks in connection with our development programs.

Results of Operations

Operating expenses for the three months ended October 31, 2017 and 2016 were $15,069 and $8,454, respectively. Our net losses for the three month ended October 31, 2017 and 2016 were $16,679 and 9,174, respectively.

During the six months ended October 31, 2017, we incurred $40,030 of operating expenses compared to $12,754 during the six months ended October 31, 2016. The increase in operating expenses is due to $14,500 of management fees paid to our CEO and Director and an increase of $12,776 of general and administrative expense for increases in professional fees for our SEC filing requirements and additional transfer agent costs for the share split that occurred during the year as well as 8-K filings for the proposed reverse merger transaction.

We incurred a net loss of $43,250, or $nil loss per share, during the six months ended October 31, 2017 compared to a net loss of $14,112, or $nil loss per share, during the six months ended October 31, 2016. In addition to operating expenses, we incurred interest expense of $3,220 relating to outstanding loans to our company.

Cash Flows

We spent a total of $53,476 in operating activities which we financed through a loan from a third party during the six months ended October 31, 2017. During the six months ended October 31, 2016, we used $5,095 in operating activities which was financed through a loan from a third party.

Investing activities during the six months ended October 31, 2017 and 2016 were $5,000 and $0 respectively, mainly due to a related party receivable during the six months ended October 31, 2017.

Financing activities during the six months ended October 31, 2017 and 2016 were $60,000 and $5,095 respectively. The increase is mainly due to note payable agreements entered in to during the six months ended October 31, 2017

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 are material to stockholders.

Critical Accounting Policies

The discussion and analysis of our financial condition and results of operations are based upon our financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America. Preparing financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. These estimates and assumptions are affected by management’s application of accounting policies. We believe that understanding the basis and nature of the estimates and assumptions involved with the following aspects of our financial statements is critical to an understanding of our financial statements.

Revenue Recognition

Sales will be recorded when products are shipped or services are provided to customers. Provisions for discounts and rebates to customers, estimated returns and allowances, and other adjustments are provided for in the same period the related sales are recorded. No provision for discounts or rebates to customers, estimated returns and allowances or other adjustments have been recognized as at October 31, 2017. Our company had not made any sales as at October 31, 2017.

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 are material to stockholders.

Critical Accounting Policies

The discussion and analysis of our financial condition and results of operations are based upon our financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America. Preparing financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. These estimates and assumptions are affected by management’s application of accounting policies. We believe that understanding the basis and nature of the estimates and assumptions involved with the following aspects of our financial statements is critical to an understanding of our financial statements.