Item
1. Financial Statements
Wigi4You,
Inc.
INDEX
TO FINANCIAL STATEMENT
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Unaudited
Balance Sheets at March 31, 2017 and June 30, 2016
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F-1
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Unaudited
Statements of Operations for the three and nine months ended March 31, 2017 and 2016
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F-2
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Unaudited
Statement of Stockholders' Equity for the nine months ended March 31, 2017
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F-3
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Unaudited
Statements of Cash Flows for the nine months ended March 31, 2017 and 2016
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F-4
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Notes
to Financial Statements (Unaudited)
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F-5
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Wigi4You, Inc
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BALANCE SHEETS
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March 31, 2017 and June 30, 2016
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March 31,
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June 30,
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2017
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2016
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(Unaudited)
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ASSETS
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Current assets
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Cash
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$
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15,701
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$
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34,369
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Prepaid expense
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2,257
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590
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Total current assets
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17,958
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34,959
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Total assets
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$
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17,958
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$
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34,959
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LIABILITIES AND STOCKHOLDERS' EQUITY
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Current liabilities
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Due to related party
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555
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555
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Total current liabilities
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555
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555
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Commitments and contingencies
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Stockholders' equity
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Common stock: $0.001 par value, 75,000,000
shares authorized, 7,250,000 and 5,250,000 shares issued and outstanding as of March 31, 2017 and June 30, 2016
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$
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7,250
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$
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5,250
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Additional paid-in capital
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53,720
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15,720
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Common stock subscribed
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—
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31,000
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Accumulated deficit
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(43,567
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)
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(17,566
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)
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Total stockholders’ equity
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17,403
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34,404
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Total liabilities and stockholders’ equity
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$
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17,958
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$
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34,959
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The accompanying notes are an integral part of these financial statements.
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Wigi4You, Inc
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STATEMENTS OF OPERATIONS
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For the three and nine months ended March 31, 2017 and 2016
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(Unaudited)
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For the three months ended
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For the nine months ended
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March 31,
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March 31,
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2017
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2016
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2017
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2016
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Revenue
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$
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—
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$
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—
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$
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—
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$
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—
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Expenses
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General and administrative expense
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3,996
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2,049
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19,001
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3,721
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Professional fee
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2,000
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1,985
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7,000
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7,835
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Total expenses
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5,996
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4,034
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26,001
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11,556
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Net (loss)
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$
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(5,996
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)
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$
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(4,034
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)
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$
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(26,001
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)
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$
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(11,556
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)
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Basic and diluted loss per common share
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$
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(0.00
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)
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$
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(0.00
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)
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$
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(0.00
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)
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$
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(0.00
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)
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Weighted average number of common shares outstanding - basic and diluted
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7,250,000
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5,250,000
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6,644,161
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5,250,000
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The accompanying notes are an integral part of these financial statements.
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Wigi4You, Inc
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STATEMENTS OF STOCKHOLDERS' EQUITY
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For the nine month ended March 31, 2017
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(Unaudited)
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Additional
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Common
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Total
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Common Stock
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Paid-in
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Accumulated
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Stock
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Stockholders'
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Shares
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Amount
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Capital
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Deficit
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Subscribed
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Equity
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Balance at June 30, 2016
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5,250,000
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$
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5,250
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$
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15,720
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$
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(17,566
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)
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$
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31,000
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$
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34,404
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Share application money received
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—
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—
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—
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—
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9,000
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9,000
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Common stock issued for cash
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2,000,000
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2,000
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38,000
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—
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(40,000
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)
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—
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Net loss for the period ended March 31, 2017
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—
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—
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—
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(26,001
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)
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—
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(26,001
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)
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Balance at March 31, 2017
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7,250,000
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$
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7,250
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$
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53,720
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$
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(43,567
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)
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$
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—
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$
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17,403
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The accompanying notes are an integral part of these financial statements.
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Wigi4You, Inc
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STATEMENT OF CASH FLOWS
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For the nine months ended March 31, 2017 and 2016
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(Unaudited)
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For the nine months ended March 31, 2017
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For the nine months ended March 31, 2016
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Cash flow from operating activities
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Net loss
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$
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(26,001
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)
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$
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(11,556
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)
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Changes in Operating Assets and Liabilities:
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(Increase) Decrease in advance deposit
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5,000
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Increase (Decrease) in accounts payable
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—
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4,450
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Increase (Decrease) in prepaid expense
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(1,667
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)
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(1,709
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)
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(Increase) Decrease deferred offering costs
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—
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(10,000
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)
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Net cash used in operating activities
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$
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(27,668
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)
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$
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(13,815
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)
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Cash flows from investing activities
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$
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—
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$
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—
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Cash flow from financing activities
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Proceeds from stock issued or to be issued
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9,000
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10,000
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Net cash provided by (used in) financing activities
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$
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9,000
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$
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10,000
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Net increase/(decrease) in cash
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(18,668
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)
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(3,815
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)
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Cash at beginning of period
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34,369
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15,022
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Cash at end of period
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$
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15,701
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$
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11,207
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Supplemental cash flow information:
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Cash paid for interest
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$
|
—
|
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$
|
—
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Cash paid for income taxes
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$
|
—
|
|
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$
|
—
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The accompanying notes are an integral part of these financial statements.
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WIGI4YOU,
INC.
NOTES
TO UNAUDITED FINANCIAL STATEMENTS
March
31, 2017
NOTE
A – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A
summary of significant accounting policies of Wigi4you, Inc. (the Company) is presented to assist in understanding the Company’s
financial statements. The accounting policies presented in these footnotes conform to accounting principles generally accepted
in the United States of America and have been consistently applied in the preparation of the accompanying financial statements.
These financial statements and notes are representations of the Company’s management who are responsible for their integrity
and objectivity. The Company has not realized revenues from its planned principal business purpose.
Basis
of Presentation
The
unaudited financial statements for the period ended March 31, 2017 have been prepared in accordance with accounting principles
generally accepted in the United States for interim financial information in accordance with Securities and Exchange Commission
(SEC) Regulation S-X rule 8-03. In the opinion of management, the unaudited financial statements have been prepared on the same
basis as the annual financial statements and reflect all adjustments, which include only normal recurring adjustments, necessary
to present fairly the financial position as of March 31, 2017 and the results of operations and cash flows for the period then
ended. The financial data and other information disclosed in these notes to the interim financial statements related to the period
are unaudited. The results for the nine months ended March 31, 2017, are not necessarily indicative of the results to be expected
for any subsequent quarters or for the entire year ending June 30, 2017. The balance sheet at June 30, 2016 has been derived from
the audited financial statements at that date.
Organization,
Nature of Business and Trade Name
Wigi4you,
Inc. (the Company) was incorporated in the State of Nevada on March 19, 2014. Wigi4you, Inc. intends to provide a website and
mobile app to assist event planners in locating performers, bands and speakers, booking locations and planning events in areas
around the United States and Canada.
The
Company’s activities are subject to significant risks and uncertainties including failing to secure additional funding to
operationalize the Company’s website and apps before another company develops similar websites or apps.
Property
and Equipment
Property
and equipment are carried at cost. Expenditures for maintenance and repairs are charged against operations. Renewals and betterments
that materially extend the life of the assets are capitalized. When assets are retired or otherwise disposed of, the cost and
related accumulated depreciation are removed from the accounts, and any resulting gain or loss is reflected in income for the
period.
Depreciation
is computed for financial statement purposes on a straight-line basis over estimated useful lives of the related assets. The estimated
useful lives of depreciable assets are:
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Estimated
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Useful Lives
|
Office Equipment
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5-10 years
|
Copier
|
|
5-7 years
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Vehicles
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5-10 years
|
For
federal income tax purposes, depreciation is computed under the modified accelerated cost recovery system. For financial statements
purposes, depreciation is computed under the straight-line method.
The
Company has been in the developmental stage since inception and has no operations to date. The Company currently does not have
any property and equipment. The above accounting policies will be adopted upon the Company maintains property and equipment.
Cash
and Cash Equivalents
For
purposes of the statement of cash flows, the Company considers all short-term debt securities purchased with maturity of three
months or less to be cash equivalents.
Recent
Accounting Pronouncements
On
June 10, 2014, the Financial Accounting Standards Board ("FASB") issued update ASU 2014-10, Development Stage Entities
(Topic 915). Amongst other things, the amendments in this update removed the definition of development stage
entity from Topic 915, thereby removing the distinction between development stage entities and other reporting entities from US
GAAP. In addition, the amendments eliminate the requirements for development stage entities to (1) present inception-to-date
information on the statements of income, cash flows and shareholders equity, (2) label the financial statements as those of a
development stage entity; (3) disclose a description of the development stage activities in which the entity is engaged
and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been
in the development stage. The amendments are effective for annual reporting periods beginning after December 31, 2014 and
interim reporting periods beginning after March 15, 2015, however entities are permitted to early adopt for any annual or interim
reporting period for which the financial statements have yet to be issued.
Revenue
recognition
The
Company’s revenue recognition policies are in compliance with FASB ASC 605-35 “Revenue Recognition”. Revenue
is recognized when a formal arrangement exists, the price is fixed or determinable, all obligations have been performed pursuant
to the terms of the formal arrangement and collectability is reasonably assured. The Company recognizes revenues on sales
of its services, based on the terms of the customer agreement. The customer agreement takes the form of either a contract
or a customer purchase order and each provides information with respect to the service being sold and the sales price. If
the customer agreement does not have specific delivery or customer acceptance terms, revenue is recognized at the time the service
is provided to the customer.
Fair
Value of Financial Instruments
The Company applies fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that
are recognized or disclosed at fair value in the financial statements on a recurring basis. The Company defines fair value as
the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market
participants at the measurement date. When determining the fair value measurements for assets and liabilities, which are required
to be recorded at fair value, the Company considers the principal or most advantageous market in which the Company would transact
and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such
as risks inherent in valuation techniques, transfer restrictions and credit risk. Fair value is estimated by applying the following
hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy
upon the lowest level of input that is available and significant to the fair value measurement:
Level
1
– Quoted prices in active markets for identical assets or liabilities.
Level
2
– Observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices
for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated
by observable market data for substantially the full term of the assets or liabilities.
Level
3
– Inputs that are generally unobservable and typically reflect management’s estimate of assumptions that market
participants would use in pricing the asset or liability.
In
accordance with the fair value accounting requirements, companies may choose to measure eligible financial instruments and certain
other items at fair value. The Company has not elected the fair value option for any eligible financial instruments.
As
of March 31, 2017 and June 30, 2016, the carrying value of accounts payable and loans that are required to be measured at fair
value, approximated fair value due to the short-term nature and maturity of these instruments.
Advertising
Advertising
expenses are recorded as general and administrative expenses when they are incurred.
Use
of Estimates
The
preparation of financial statements in accounting principles generally accepted in the United States of America requires management
to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets
and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting
period. A change in managements’ estimates or assumptions could have a material impact on Wigi4You, Inc.’s financial
condition and results of operations during the period in which such changes occurred. Actual results could differ from those estimates.
Wigi4You, Inc.’s financial statements reflect all adjustments that management believes are necessary for the fair presentation
of their financial condition and results of operations for the periods presented.
Capital
Stock
The
Company has authorized Seventy Five Million (75,000,000) shares of common stock with a par value of $0.001. Seven Million Two
Hundred and Fifty Thousand (7,250,000) shares and Five Million Two Hundred and Fifty Thousand (5,250,000) shares of common stock
were issued and outstanding as of March 31, 2017 and June 30, 2016, respectively.
Income
Taxes
The
Company recognizes the tax effects of transactions in the year in which such transactions enter into the determination of net
income, regardless of when reported for tax purposes.
NOTE
B – GOING CONCERN
The
Company's financial statements are prepared using accounting principles generally accepted in the United States of America applicable
to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business.
However, the Company does not have an established source of revenues sufficient to cover its operating costs and to allow it to
continue as a going concern.
Under
the going concern assumption, an entity is ordinarily viewed as continuing in business for the foreseeable future with neither
the intention nor the necessity of liquidation, ceasing trading, or seeking protection from creditors pursuant to laws or regulations.
Accordingly, assets and liabilities are recorded on the basis that the entity will be able to realize its assets and discharge
its liabilities in the normal course of business.
The
ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plan described
in the Business paragraph and eventually attain profitable operations. The accompanying financial statements do not include any
adjustments that may be necessary if the Company is unable to continue as a going concern.
During
the next year, the Company’s foreseeable cash requirements will relate to continual development of the operations of its
business, maintaining its good standing and making the requisite filings with the Securities and Exchange Commission, and the
payment of expenses associated with app development. The Company may experience a cash shortfall and be required to raise additional
capital.
Historically,
it has mostly relied upon internally generated funds and funds from the sale of shares of stock to finance its operations and
growth. Management may raise additional capital through future public or private offerings of the Company’s stock or through
loans from private investors, although there can be no assurance that it will be able to obtain such financing. The Company’s
failure to do so could have a material and adverse effect upon it and its shareholders.
In
the past year, the Company funded operations by using cash proceeds received through the issuance of common stock. For the coming
year, the Company plans to continue to fund the Company through debt and securities sales and issuances until the company generates
enough revenues through the operations as stated above.
NOTE
C – COMMON STOCK
On
February 19, 2015, Company issued 5,250,000 Common Shares to the director of the company at $0.004 per share for cash proceeds
of $21,000.
As
of August 23, 2016 the Company has received $50,000 from investors for 2,000,000 shares of common stock to be issued. The shares
were subscribed as per a Registration Statement filed with the SEC to register and sell 2,000,000 shares of newly issued common
stock at an offering price of $0.025 per share.
On
September 21, 2016, Company issued 2,000,000 Common Shares to the investors at $0.025 per share for cash proceeds of $50,000 against
common stock subscribed.
NOTE
D – RELATED PARTY TRANSACTIONS
On
July 22, 2014, a Director of the company paid $555 to Thomas Puzzo towards his accounts payable due. The loan is unsecured, non-interest
bearing, and due on demand.
On
February 19, 2015, Company issued 5,250,000 Common Shares to the director of the company at $0.004 per share for cash proceeds
of $21,000.
NOTE
E – SUBSEQUENT EVENT
The
Company evaluated all events or transactions that occurred after March31, 2017 through the date of this filing. The Company determined
that it does not have any subsequent event requiring recording or disclosure in the financial statements for the nine months ended
March 31, 2017.
Item
2. Management's Discussion and Analysis of Financial Condition And Results Of Operations
THE
FOLLOWING DISCUSSION SHOULD BE READ IN CONJUNCTION WITH OUR AUDITED FINANCIAL STATEMENTS AND THE RELATED NOTES THAT APPEAR ELSEWHERE
IN THIS ANNUAL REPORT. THE FOLLOWING DISCUSSION CONTAINS FORWARD-LOOKING STATEMENTS THAT REFLECT OUR PLANS, ESTIMATES AND BELIEFS.
OUR ACTUAL RESULTS COULD DIFFER MATERIALLY FROM THOSE DISCUSSED IN THE FORWARD LOOKING STATEMENTS. FACTORS THAT COULD CAUSE OR
CONTRIBUTE TO SUCH DIFFERENCES INCLUDE THOSE DISCUSSED BELOW AND ELSEWHERE IN THIS ANNUAL REPORT.
FORWARD-LOOKING
STATEMENTS
Certain
statements made in this report may constitute “forward-looking statements
on our current expectations and projections
about future events
”. These forward-looking statements involve known or unknown risks, uncertainties and other factors
that may cause the actual results, performance, or achievements of the Company to be materially different from any future results,
performance or achievements expressed or implied by the forward-looking statements.
In some cases you can identify forward-looking
statements by terminology such as “may,” “should,” “potential,” “continue,” “expects,”
“anticipates,” “intends,” “plans,” “believes,” “estimates,” and similar
expressions. These statements are based on our current beliefs, expectations, and assumptions and are subject to a number of risks
and uncertainties.
Although we believe that the expectations reflected-in the forward-looking statements are reasonable, we
cannot guarantee future results, levels of activity, performance or achievements.
These forward-looking statements are made
as of the date of this report, and we assume no obligation to update these forward-looking statements whether as a result of new
information, future events, or otherwise, other than as required by law. In light of these assumptions, risks, and uncertainties,
the forward-looking events discussed in this report might not occur and actual results and events may vary significantly from
those discussed in the forward-looking statements
.
Overview
Business
Development
Wigi4You
was incorporated in the State of Nevada on March 19, 2014, and our fiscal year end is June 30. The Company's administrative address
is Derech Magdiel 39/11, Hod-hasharon Israel 45342. The telephone number is:
1-888-649-8629
.
Wigi4You
has no revenues, and has only limited cash on hand. We have sustained losses since inception and have relied solely upon the sale
of our securities and loans from our corporate officer and director for funding.
Wigi4You
has never declared bankruptcy, been in receivership, or involved in any kind of legal proceeding. Wigi4You, its director, officer,
and affiliates have not and do not intend to enter into negotiations or discussions with representatives or owners of any other
businesses or companies regarding the possibility of an acquisition or merger.
The Company
has no promoters.
Business
Plan
Wigi4You
is intended to give event planners a fast and easy way to browse, contact, and hire the entertainers and services they need to
make any event a success. We intend to provide the event planners the ability to subscribe and get quotes for free, book talent,
venues and more, and then book those services online. Wigi4You will charge a 15% surcharge on every booking made through our application
or website. The event planner and concierge service will provide an app that will help customers organize, whether for throwing
a surprise birthday party, organizing a conference, or planning a launch party. Wigi4You will provide a service that not only
lets customers find events going on around them, but lets them also host and organize their own. From there, the customers can
collect money for ticket sales and more. It’s also a way to keep guests informed on any changes to the event that may happen.
Wigi4You
is intended to be the complete guide to throwing a successful party, and even focuses on special events such as holidays. From
planning to executing, Wigi4You can walk the client through each step of the event.
Principal
Products, Services and Their Markets
Our
business plan is to create a website and an independent mobile application that enables consumers to find the best performers,
entertainers, bands, speakers and event services easily and which are expected to be accessible for everyone in the United States
and Canada. Whether a first-time event planner or a seasoned professional, customers can book everything needed for a successful
event in one location. We plan on developing a simple booking platform which will allow for an easy connection between event planner
and talent. Users will type in the category in which they are interested, so a list of local talent can be provided. We plan on
allowing users the ability to watch videos and see reviews.
Wigi4you
will give event planners a fast and easy way to browse, contact, and hire entertainers and services needed for any event.
Status
of Publicly Announced New Products or Services
Wigi4You
currently has no new publicly announced products or services.
Competitive
Business Conditions and Strategy; Wigi4You’s Position in the Industry
Wigi4You
intends to establish itself as a competitive company in the market for event planners. Wigi4You’s main competitors are firms
offering similar services.
Outsourcing
of Software Programmers.
Wigi4You
plans to hire independent sub-contractors (programmers and web site developers) to customize the public domain software which
is planned to be the foundation to our website and mobile application. We believe that these services may be obtained at competitive
prices from software outsourcing companies operating outside the United States; however we may encounter good programmers at competitive
rates within the United States. At this time we have no arrangements with any vendors or third parties to obtain hardware, or
programming.
Patents,
Trademarks, Licenses, Agreements or Contracts
There
are no aspects of our business plan which require a patent, trademark, or product license. We have not entered into any vendor
agreements or contracts that give or could give rise to any obligations or concessions.
Governmental
Controls, Approval and Licensing Requirements
None
.
Research
and Development Activities and Costs
We
have spent no time on specialized research and development activities, and have no plans to undertake any research or development
in the future.
Number
of Employees
Wigi4You
has no employees. Our sole officer and director is donating his time to the development of the Company, and intends to do whatever
work is necessary in order to bring us to the point of earning revenues. We have no other employees, and do not foresee hiring
any additional employees in the near future. We plan to engage independent contractors and sub-contractors to design and develop
our website, manage our internet marketing efforts.
Plan
of Operation
Wigi4you
doesn’t have any business activity to generate revenue and also no significant assets. Our executive offices are located
at Derech MagDiel 39/11, Hold-hasharon Israel 45342. The office is a location at which the Company receives mail, has office services
and can hold meetings. Our officer, Omri Revivo, works on Company business from his residence in Israel.
Wigi4you
plans to develop and commercialize an independent mobile application that enables consumers to find event talent and services,
plan for their needs, and get real-time quote notifications.
W
e
plan to engage in the following activities to expand our business operations:
|
1)
|
Create
an iPhone Application – This will allow event talent and services to create a profile that includes:
|
|
|
|
|
a.
|
Highest
visibility;
|
|
|
|
|
b.
|
20
category placements;
|
|
|
|
|
c.
|
100
photos including hi-resolution photos;
|
|
|
|
|
d.
|
Accept
deposits of up to $2,000;
|
|
|
|
|
e.
|
Show
contact information;
|
|
|
|
|
f.
|
Have
1gb available for audio/video;
|
|
|
|
|
g.
|
Link
to their website; and
|
|
|
|
|
h.
|
Top
priority in search results.
|
|
|
|
|
|
The
application will allow users to pick the event talent and services for events in their area, pick their best quote and to pay
and secure the talent and services.
|
2)
|
Create
a web portal where event planners can create, edit and save the plans and which supports the iPhone application. The web portal
will:
|
|
|
|
|
a.
|
Allow
site administrators to login and make changes;
|
|
|
|
|
b.
|
Allows
site administrators to create new plans for different service providers;
|
|
|
|
|
c.
|
Allow
site administrators to rank plans;
|
|
|
|
|
d.
|
Keep
records of all site users who have signed up and their plans and preferences; and
|
|
|
|
|
e.
|
Create
a simple algorithm that ranks the event talent and services.
|
|
|
|
|
|
Results
of Operations
Comparison
for the Three Months Ended March 31, 2017 and 2016
Revenues
During
the three months ended March 31, 2017 and 2016 we have not generated any revenue.
Operating
Expenses
The
Company’s operating expenses for the three months ended March 31, 2017 is $5,996 and for the three months ended March 31,
2016 is $4,034. Operating expenses for the three months ended March 31, 2017 consist of General and Administrative Expense $3,996
and Professional Fees $2,000. Operating expenses for the three months ended March 31, 2016 consist of General and Administrative
Expense $2,049 and Professional fee $1,985.
Net
Loss
During
the three months ended March 31, 2017 and 2016 the Company recognized net losses of $5,996 and $4,034, respectively.
Comparison
for the Nine Months Ended March 31, 2017 and 2016
Revenues
During
the nine months ended March 31, 2017 and 2016 we have not generated any revenue.
Operating
Expenses
The
Company’s operating expenses for the nine months ended March 31, 2017 is $26,001 and for the nine months ended March 31,
2016 is $11,556. Operating expenses for the nine months ended March 31, 2017 consist of General and Administrative Expense $19,001
and Professional Fees $7,000. Operating expenses for the nine months ended March 31, 2016 consist of General and Administrative
Expense $3,721 and Professional fee $7,835.
Net
Loss
During
the nine months ended March 31, 2017 and 2016 the Company recognized net losses of $26,001 and $11,556, respectively.
Liquidity
and Capital Resources
On
March 31, 2017, we had total current assets of $17,958 which consist of $15,701 in Cash, and $2,257 in prepaid expense. We had
total current liabilities of $555, which consist of $555 due to related party.
Historically,
we have financed our cash flow and operations from the sale of common stock and loan from related party. Net cash provided
by financing activities for the nine months ended March 31, 2017 was $9,000, which consist of proceeds for common stock issued
$9,000. During the nine months ended March 31, 2016 net cash provided by financing activities was $10,000, which consist of common
stock to be issued $10,000
We
have not yet generated any revenue from our operations. We will require additional funds to fully implement our plans. These funds
may be raised through equity financing, debt financing, or other sources, which may result in the dilution in the equity ownership
of our shares. We currently do not have any arrangements for additional financing and we may not be able to obtain financing when
required. Our future is dependent upon our ability to obtain financing, a successful marketing and promotion program and, further
in the future, achieving a profitable level of operations. The issuance of additional equity securities by us could result in
a significant dilution in the equity interests of our current stockholders. Obtaining commercial loans, assuming those loans would
be available, will increase our liabilities and future cash commitments. We will require additional funds to
maintain our reporting status with the SEC and remain in good standing with the state of Nevada.
Going
Concern
We
have incurred net loss since our inception on March 19, 2014 through March 31, 2017 totaling $43,567 and have completed only the
preliminary stages of our business plan. We anticipate incurring additional losses before realizing any revenues and
will depend on additional financing in order to meet our continuing obligations and ultimately, to attain profitability. Our
ability to obtain additional financing, whether through the issuance of additional equity or through the assumption of debt, is
uncertain. Accordingly, our independent auditors’ report on our financial statements for the year ended June
30, 2016 includes an explanatory paragraph regarding concerns about our ability to continue as a going concern, including additional
information contained in the notes to our financial statements describing the circumstances leading to this disclosure. The
financial statements do not include any adjustments that might result from the uncertainty about our ability to continue our business.
Recently
Issued Accounting Pronouncements
We
do not expect the adoption of any recently issued accounting pronouncements to have a significant impact on our net results of
operations, financial position, or cash flows.
Off-Balance
Sheet Arrangements
We
have no off-balance sheet arrangements.