NOTE
I – SUBSEQUENT EVENT
The
Company evaluated all events or transactions that occurred after September 30, 2020 through February 05, 2021. The Company determined
that it does not have any subsequent event requiring recording or disclosure in the financial statements for the period ended
December 31, 2020.
Item
2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.
Forward-looking
statements
This
quarterly report on Form 10-Q contains “forward-looking statements” relating to the registrant which represent the
registrant’s current expectations or beliefs, including statements concerning registrant’s operations, performance,
financial condition and growth. For this purpose, any statement contained in this quarterly report on Form 10-Q that are
not statements of historical fact are forward-looking statements. Without limiting the generality of the foregoing, words such
as “may”, “anticipation”, “intend”, “could”, “estimate”, or “continue”
or the negative or other comparable terminology are intended to identify forward-looking statements. These statements by their
nature involve substantial risks and uncertainties, such as credit losses, dependence on management and key personnel and variability
of quarterly results, ability of registrant to continue its growth strategy and competition, certain of which are beyond the registrant’s
control. Should one or more of these risks or uncertainties materialize or should the underlying assumptions prove incorrect,
actual outcomes and results could differ materially from those indicated in the forward-looking statements.
The
following discussion of our financial condition and results of operations should be read in conjunction with our financial statements
and the related notes, and other financial information contained in this prospectus.
Overview
SigmaRenoPro
was incorporated on June 16, 2017. Our fiscal year end is June 30, and we have no subsidiaries. Our business offices are currently
located at Aloni Noa’kh St. 1, Kiryat Motzkin 26402, Israel. Omar Aamar, has served as our President, Treasurer and a director
since June 16, 2017. Mr. Amar’s spouse, Hosnieh Aaman, has served as our Secretary since July 25, 2017. Mr. Aamar and Ms.
Aamar collectively hold 2,300,000 shares of common stock of the Company. Mr. Aamar’s business experience is in the construction
and home building industry in Israel. We are focusing on matching home project owners with contractors in the United States. Mr.
Aamar, however, has no knowledge of and no experience in this business in the United States. The Company is focusing its operations
in the United States because the Company’s believes the barriers to operation of its business in the United States is not
burdensome and the United States has a large home repair market.
We
plan to provide a U.S.-based service matching homeowners that have renovation projects with professionally-skilled contractors
,initially concentrating our efforts on the four consumer regions of the United States of, New York, New York; Los Angeles, California;
Chicago Illinois; and Houston Texas. Our customized match making service helps homeowners converge with professional contractors.
We plan to create a collection of articles intended to help homeowners with home project information, including:
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How to outline project requirements;
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How to select the right contractor;
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How to interview contractors;
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How to draw up a project contract; and
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How to settle disputes with contractors
Our
service is deigned to be free for all homeowners to use and post their projects. We plan to build a network of professionally-skilled
contractors who provide a broad array of construction and renovation services for everything from changing light fixtures to complete
kitchen renovation, and from housecleaning services to new construction.
Plan
of Operations
Comparison
of the Three Months Ended December 31, 2020 and 2019
Lack
of Revenues
We
have limited operational history. For the three months ended December 31, 2020 and 2019 we did not generate any revenues. We anticipate
that we will incur substantial losses for the foreseeable future and our ability to generate any revenues in the next 12 months
continues to be uncertain.
Operating
Expenses
The
Company’s operating expenses for the three months ended December 31, 2020 and 2019 were $5,936 and $3,653 respectively.
Operating expenses consisted of professional fees of $5,568, general administrative expenses of $68 and share transfer agent fee
of $300 for the three months ended December 31, 2020. Operating expenses consisted of professional fees of $3,403 and general
administrative expenses of $45 and share transfer agent fee of $205 for the three months ended December 31, 2019.
Net
Loss
During
the three months ended December 31, 2020 and 2019 the Company recognized net losses of $5,936 and $3,653.
Comparison
of the Six Months Ended December 31, 2020 and 2019
Lack
of Revenues
We
have limited operational history. For the six months ended December 31, 2020 and 2019 we did not generate any revenues. We anticipate
that we will incur substantial losses for the foreseeable future and our ability to generate any revenues in the next 12 months
continues to be uncertain.
Operating
Expenses
The
Company’s operating expenses for the six months ended December 31, 2020 and 2019 were $9,545 and $14,403 respectively. Operating
expenses consisted of professional fees of $8,809, general administrative expenses of $136 and share transfer agent fee of $600
for the three months ended December 31, 2020. Operating expenses consisted of professional fees of $8,894 and general administrative
expenses of $5,304 and share transfer agent fee of $205 for the three months ended December 31, 2019.
Net
Loss
During
the three months ended December 31, 2020 and 2019 the Company recognized net losses of $9,545 and $14,403.
Liquidity
and Capital Resources
Our
capital resources have been acquired through the sale of shares of our common stock and loans from shareholders.
At
December 31, 2020 and June 30, 2020, we had total assets of $10,418 and $6,404 respectively consisting of cash held in trust and
prepaid expenses.
At
December 31, 2020 and June 30, 2020, our total liabilities were $29,282 and $15,723, respectively consisting of due to related
parties, short term fund and accounts payable.
Cash
flows from operating activities
Net
cash flows used in operating activities for the six month periods ended December 31, 2020 and 2019 was $(5,310) and $(7,371).
Going
Concern
The
future of our company is dependent upon its ability to obtain financing and upon future profitable operations from the sale of
products and services through our websites. Management has plans to seek additional capital through a private placement and public
offering of its common stock, if necessary. Our auditors have expressed a going concern opinion because uncertainties raise doubts
about the Issuers ability to continue as a going concern.
Cash
Requirements
We
intend to provide funding for our activities, if any, through a combination of the private placement of the company’s equity
securities and the public sales of equity securities.
We
have no agreement, commitment or understanding to secure any funding from any source.
Off-Balance
Sheet Arrangements
We
do not have any off balance sheet arrangements.
Office
SigmaRenoPro,
Inc.’s executive office is located at Aloni Noa’kh St. 1Kiryat Motzkin 26402 Israel. The telephone number is +972
03-6860331.
SigmaRenoPro,
Inc. is not operating its business plan until such time as capital is raised for operations. To date its operation has involved
only selling stock to meet expenses.
Business
Overview
Since
its inception, the Company derived no revenues and no income from such business and as result as of September 30, 2020, had an
accumulated deficit of $86,328.
There
is no current public market for our securities. As our stock is not publicly traded, investors should be aware they probably will
be unable to sell their shares and their investment in our securities is not liquid.
At
the present time, we are classified as a “shell company” under Rule 405 of the Securities Act Rule 12b-2 of the Exchange
Act. As such, all restricted securities presently held by the affiliates of our company may not be resold in reliance on Rule
144 until: (1) we file Form 10 information with the Securities and Exchange Commission (“SEC”) when we cease to be
a “shell company”; (2) we have filed all reports as required by Section 13 and 15(d) of the Securities Act for twelve
consecutive months; and (3) one year has elapsed from the time we file the current Form 10 type information with the SEC reflecting
our status as an entity that is not a shell company.
Bankruptcy
Or Similar Proceedings
There
has been no bankruptcy, receivership or similar proceeding involving the Company.
Number
Of Total Employees And Number Of Full Time Employees
Omar
Aamar, our sole officer and director, is our only employee, and he currently works full time on Company matters.
Once
the offering is complete we will hire additional staff if we generate enough revenue to support the expense. The number of additional
staff will depend upon our growth.
Item
3. Quantitative and Qualitative Disclosures about Market Risk.
Not
Applicable to Smaller Reporting Companies.
Item
4. Controls and Procedures.
EVALUATION
OF DISCLOSURE CONTROLS AND PROCEDURES
As
required by Rule 13a-15/15d-15 under the Securities and Exchange Act of 1934,as amended (the "Exchange Act"), as of
September 30, 2020, we have carried out an evaluation of the effectiveness of the design and operation of our Company's disclosure
controls and procedures. This evaluation was carried out under the supervision and with the participation of our Company's management,
our President (Principal Executive Officer) and Treasurer (Principal Accounting Officer). Based upon the results of that evaluation,
our management has concluded that, as of September 30, 2020, our Company's disclosure controls and procedures were not effective
and do not provide reasonable assurance that material information related to our Company required to be disclosed in the reports
that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified
in the SEC's rules and forms, and that such information is accumulated and communicated to management to allow timely decisions
on required disclosure.
MANAGEMENT'S
REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
Management
is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rules 13a-15(f)
and 15d-15(f) under the Exchange Act. Our internal control system is designed to provide reasonable assurance to our management
and board of directors regarding the reliability of financial reporting and the preparation of financial statements for external
reporting purposes in accordance with generally accepted accounting principles. Our internal control over financial reporting
includes those policies and procedures that:
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Pertain
to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions
of the assets of the Company;
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Provide
reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance
with generally accepted accounting principles in the United States of America, and that receipts and expenditures of the Company
are being made only in accordance with authorizations of management and directors of the Company; and
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Provide
reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the Company's
assets that could have a material effect on the financial statements.
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Management
assessed the effectiveness of our internal control over financial reporting as of September 30, 2020. In making this assessment,
we used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in INTERNAL CONTROL
-- INTEGRATED FRAMEWORK.
Our
management concluded that, as of September 30, 2020, our internal control over financial reporting was effective based on the
criteria in INTERNAL CONTROL -- INTEGRATED FRAMEWORK issued by the COSO.
This
quarterly report does not include an attestation report of the Company's independent registered public accounting firm regarding
internal control over financial reporting. Management's report was not subject to attestation by the Company's independent registered
public accounting firm pursuant to rules of the SEC that permit the Company to provide only management's report in this annual
report.
CHANGES
IN INTERNAL CONTROL OVER FINANCIAL REPORTING
There
were no changes in our internal control over financial reporting identified in connection with the evaluation described above
during the first quarter ended September 30, 2020 that has materially affected or is reasonably likely to materially affect our
internal controls over financial reporting.
PART
II. OTHER INFORMATION
Item
1. Legal Proceedings.
SigmaRenoPro
is not involved in any litigation or any material legal proceeding. No Officer or Director is involved in any litigation
or any material legal proceeding.
Item
1A. Risk Factors
We
are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information required
under this item.
Item
2. Unregistered Sales of Equity Securities and Use of Proceeds.
None
Item
3. Defaults Upon Senior Securities.
None
Item
4. Mine Safety Disclosures.
Not
Applicable
Item
5. Other Information.
None
Item
6. Exhibits
Exhibit
31.1
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Certification
of Chief Executive Officer of Sigmarenopro, Inc. required by Rule 13a-14(1) or Rule 15d-14(a) of the Securities Exchange Act
of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
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Exhibit
31.2
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Certification
of Chief Financial Officer of Sigmarenopro, Inc. required by Rule 13a-14(1) or Rule 15d-14(a) of the Securities Exchange Act
of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
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Exhibit
32.1
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Certification
of Chief Executive Officer of Sigmarenopro, Inc. pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and Section 1350
of 18 U.S.C. 63.
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Exhibit
32.2
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Certification
of Chief Executive Officer of Sigmarenopro, Inc. pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and Section
1350 of 18 U.S.C. 63.
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Signatures
Pursuant
to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report
to be signed on its behalf by the undersigned thereunto duly authorized.
Sigmarenopro,
Inc.
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By:
/s/ Omar Aamar
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Date:
February 05, 2021
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Omar
Aamar,
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President
and Treasurer
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Chief
Executive Officer
Chief
Financial Officer
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