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Table of Contents
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-Q
Mark One
☒ QUARTERLY REPORT PURSUANT TO SECTION 13
OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended July 31, 2023
☐ TRANSITION REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ______ to _______
Commission File No. 333-239589
EVENTIKO INC.
(Exact name of registrant as specified in its charter)
Nevada
(State or Other Jurisdiction of
Incorporation or Organization) |
7990
(Primary Standard Industrial
Classification Number) |
EIN 98-1535709
(IRS Employer
Identification Number)
|
1445 Woodmont Ln NW #2639 Atlanta, GA 30318
404-549-4542
eventikoinc@zohomail.com
(Address and telephone number of principal executive
offices)
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class |
Trading Symbol |
Name of Each Exchange on Which Registered |
N/A |
N/A |
N/A |
Indicate by checkmark whether the issuer: (1)
has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period
that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically
every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the
preceding 12 months (or for such shorter period that the registrant was required to submit such files).
Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definitions of “large
accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company”
in Rule 12b-2 of the Exchange Act.
Large accelerated filer ☐ |
Accelerated filer ☐ |
Non-accelerated filer ☒ |
Smaller reporting company ☒ |
|
Emerging Growth Company ☒ |
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act.
Indicate by checkmark whether the registrant is a shell company (as
defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
At July 31, 2023, the number of shares of the Registrant’s common
stock outstanding was 4,192,500.
TABLE OF CONTENTS
PART I - FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
EVENTIKO INC.
BALANCE SHEET
| |
July 31, 2022 | | |
April 30, 2023 | |
| |
(Unaudited) | | |
(Audited) | |
ASSETS | |
| | | |
| | |
Current Assets | |
| | | |
| | |
Cash and cash equivalents | |
$ | – | | |
$ | 5,530 | |
Total Current assets | |
| – | | |
| 5,530 | |
| |
| | | |
| | |
Fixed Assets | |
| – | | |
| 11,000 | |
| |
| | | |
| | |
Total Assets | |
$ | – | | |
$ | 16,530 | |
| |
| | | |
| | |
LIABILITIES & STOCKHOLDERS' EQUITY | |
| | | |
| | |
Liabilities | |
| | | |
| | |
Accounts Payable | |
$ | 750 | | |
$ | 11,000 | |
Accrued Expenses | |
| – | | |
| (24 | ) |
Related Party Loans | |
| – | | |
| 24,039 | |
Total Current liabilities | |
| 750 | | |
| 35,015 | |
| |
| | | |
| | |
Stockholders’ Equity | |
| | | |
| | |
Common stock, $0.0001 par value, 75,000,000 shares authorized; 4,192,500 shares issued and outstanding; | |
| 419 | | |
| 419 | |
Additional paid in capital | |
| 42,216 | | |
| 23,731 | |
Accumulated deficit | |
| (43,385 | ) | |
| (42,635 | ) |
Total Stockholders’ Equity | |
| (750 | ) | |
| (18,485 | ) |
| |
| | | |
| | |
Total Liabilities and Stockholders’ Equity | |
$ | – | | |
$ | 16,530 | |
The accompanying notes are an integral part of
these financial statements.
EVENTIKO INC.
STATEMENT OF OPERATIONS
(Unaudited)
| |
Three Months Ended July 31, 2023 | | |
Three Months Ended July 31, 2022 | |
| |
| | |
| |
Revenue | |
$ | – | | |
$ | – | |
| |
| | | |
| | |
General and administrative expenses | |
| 750 | | |
| 9,110 | |
| |
| | | |
| | |
Total operating expenses | |
| 750 | | |
| 9,110 | |
| |
| | | |
| | |
| |
| | | |
| | |
Net income (loss) from operations | |
$ | (750 | ) | |
$ | (9,110 | ) |
Provisions from Income Taxes | |
| – | | |
| – | |
NET INCOME (LOSS) | |
$ | (750 | ) | |
$ | (9,110 | ) |
| |
| | | |
| | |
Net Loss per common share: | |
| | | |
| | |
Basic and Diluted | |
$ | (0.00 | ) | |
$ | (0.00 | ) |
| |
| | | |
| | |
Weighted Average Number of Common Shares Outstanding: | |
| | | |
| | |
Basic and Diluted | |
| 4,192,500 | | |
| 4,192,500 | |
The accompanying notes are an integral part of
these financial statements.
EVENTIKO INC.
STATEMENT OF STOCKHOLDERS’ EQUITY (UNAUDITED)
FOR THE QUARTER ENDED JULY 31, 2023 & 2022
| |
| | |
| | |
| | |
| | |
| |
| |
Common Stock | | |
Additional Paid-in | | |
Deficit | | |
Total Stockholders’ | |
| |
Shares | | |
Amount | | |
Capital | | |
Accumulated | | |
Equity | |
| |
| | |
| | |
| | |
| | |
| |
Inception, February 19, 2020 | |
| – | | |
$ | – | | |
$ | – | | |
$ | – | | |
$ | – | |
| |
| | | |
| | | |
| | | |
| | | |
| | |
Shares issued for services at $0.0001 per share | |
| 3,000,000 | | |
| 300 | | |
| – | | |
| – | | |
| 300 | |
| |
| | | |
| | | |
| | | |
| | | |
| | |
Net loss for the year ended April 30, 2020 | |
| – | | |
| – | | |
| – | | |
| (1,223 | ) | |
| (1,223 | ) |
| |
| | | |
| | | |
| | | |
| | | |
| | |
Balance, April 30, 2020 (Audited) | |
| 3,000,000 | | |
$ | 300 | | |
$ | – | | |
$ | (1,223 | ) | |
$ | (923 | ) |
| |
| | | |
| | | |
| | | |
| | | |
| | |
Shares issued for cash at $0.02 per share in October, 2021 | |
| 143,000 | | |
| 14 | | |
| 2,846 | | |
| – | | |
| 2,860 | |
| |
| | | |
| | | |
| | | |
| | | |
| | |
Shares issued for cash at $0.02 per share in January, 2021 | |
| 1,049,500 | | |
| 105 | | |
| 20,885 | | |
| – | | |
| 20,990 | |
| |
| | | |
| | | |
| | | |
| | | |
| | |
Net loss for the year ended April 30, 2021 | |
| – | | |
| – | | |
| – | | |
$ | (10,643 | ) | |
| (10,643 | ) |
| |
| | | |
| | | |
| | | |
| | | |
| | |
Balance, April 30, 2021 (Audited) | |
| 4,192,500 | | |
$ | 419 | | |
$ | 23,731 | | |
$ | (11,866 | ) | |
$ | 12,284 | |
| |
| | | |
| | | |
| | | |
| | | |
| | |
Net loss for the period ended April 30, 2022 | |
| – | | |
| – | | |
| – | | |
| (20,832 | ) | |
| (20,832 | ) |
| |
| | | |
| | | |
| | | |
| | | |
| | |
Balance, April 30, 2022 | |
| 4,192,500 | | |
$ | 419 | | |
$ | 23,731 | | |
$ | (32,699 | ) | |
$ | (8,549 | ) |
| |
| | | |
| | | |
| | | |
| | | |
| | |
Net loss for the period ended April 30, 2023 | |
| – | | |
| – | | |
| – | | |
| (9,936 | ) | |
| (9,936 | ) |
| |
| | | |
| | | |
| | | |
| | | |
| | |
Balance, April 30, 2023 | |
| 4,192,500 | | |
$ | 419 | | |
$ | 23,731 | | |
$ | (42,635 | ) | |
$ | (18,485 | ) |
| |
| | | |
| | | |
| | | |
| | | |
| | |
Gain on Related Party Forgiveness of Debt | |
| | | |
| | | |
| 18,485 | | |
| | | |
| 18,485 | |
Net loss for the period ended July 31, 2023 | |
| – | | |
| – | | |
| | | |
| (750 | ) | |
| (750 | ) |
| |
| | | |
| | | |
| | | |
| | | |
| | |
Balance, July 31, 2023 | |
| 4,192,500 | | |
$ | 419 | | |
$ | 42,216 | | |
$ | (43,385 | ) | |
$ | (750 | ) |
The accompanying notes are an integral part of
these financial statements.
EVENTIKO INC.
STATEMENT OF CASH FLOWS
(Unaudited)
| |
Three Months
Ended July 31, 2023 | | |
Three Months
Ended July 31, 2022 | |
Operating Activities | |
| | | |
| | |
Net income (loss) | |
$ | (750 | ) | |
$ | (9,110 | ) |
Accounts Payable / Accrued Expenses | |
| (10,226 | ) | |
| (203 | ) |
Fixed Assets | |
| 11,000 | | |
| – | |
Increase in bank overdraft | |
| – | | |
| 42 | |
Net cash used in operating activities | |
| 24 | | |
| (9,271 | ) |
| |
| | | |
| | |
| |
| | | |
| | |
Financing Activities | |
| | | |
| | |
Related party loans | |
| (24,039 | ) | |
| 7,372 | |
Proceeds from sale of common stock | |
| – | | |
| – | |
Add’l Paid in Capital | |
| 18,485 | | |
| – | |
Net cash provided by financing activities | |
| (5,554 | ) | |
| 7,372 | |
| |
| | | |
| | |
Net increase in cash and equivalents | |
| (5,530 | ) | |
| (1,899 | ) |
| |
| | | |
| | |
Cash and equivalents at beginning of the period | |
| 5,530 | | |
| 1,899 | |
| |
| | | |
| | |
Cash and equivalents at end of the period | |
$ | – | | |
$ | – | |
| |
| | | |
| | |
Supplemental cash flow information: | |
| | | |
| | |
Cash paid for: | |
| | | |
| | |
Interest | |
$ | – | | |
$ | – | |
Taxes | |
$ | – | | |
$ | – | |
The accompanying notes are an integral part of
these financial statements.
EVENTIKO INC.
NOTES TO THE UNAUDITED FINANCIAL STATEMENTS
FOR QUARTER ENDED JULY 31, 2023 AND 2022
Note 1 – ORGANIZATION AND NATURE
OF BUSINESS
We were incorporated in the State of Nevada on February 19, 2022 (Inception).
We maintain our statutory registered agent’s office at 3773 Howard Hughes Pkwy – Suite 500s, Las Vegas, NV 89169-6014. Our
principal executive offices are located at 1445 Woodmont Ln NW #2639 Atlanta, GA 30318.
Eventiko Inc. will organize fashion events, parties, exhibitions, festivals
and ceremonies initially in Thailand, but with plans at a later stage to spread our business to other Asian countries such as: Vietnam,
Cambodia etc. Our main source of revenue from operations will be generated from customers paying a fee for our services. Our fee service
will be 10-20% from the total price. We will be dedicated to working on clients event from conception through to final delivery. We will
work with each and every client to develop a concept that provides a holistic solution for his needs, focusing on time management, target
audience, budget and his overall vision.
Note 2 – GOING CONCERN
The accompanying financial statements have been
prepared in conformity with generally accepted accounting principles, which contemplate continuation of the Company as a going concern.
The Company had accumulated deficit of $43,385 as of July 31, 2023 and $42,635 as of April 30, 2023. The Company currently has loses and
has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period
of time. Therefore, there is substantial doubt about the Company’s ability to continue as a going concern. Management anticipates
that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses The Company intends
to position itself so that it will be able to raise additional funds through the capital markets. In light of management’s efforts,
there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue
as a going concern.
Note 3 – SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES
Basis of presentation
The accompanying financial statements have been
prepared in accordance with generally accepted accounting principles in the United States of America. The Company’s year-end is
April 30.
Use of Estimates
The preparation of financial statements in conformity
with generally accepted accounting principles 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 the financial statements and the reported amount
of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents
The Company considers all highly liquid investments
with original maturities of three months or less to be cash equivalents. The Company had $NIL of cash as of July 31, 2023.
Fair Value of Financial Instruments
AS topic 820 “Fair Value Measurements and
Disclosures” establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy
prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market.
These tiers include:
Level 1: |
defined as observable inputs such as quoted prices in active markets; |
Level 2: |
defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and |
Level 3: |
defined as unobservable inputs
in which little or no market data exists, therefore requiring an entity to develop its own assumptions. |
The carrying value of cash and the Company’s
loan from shareholder approximates its fair value due to their short-term maturity.
Income Taxes
Income taxes are computed using the asset and
liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences
between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws.
A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.
Revenue Recognition
We adopted Accounting Standards Codification (“ASC”)
Topic 606, “Revenue from Contracts with Customers”, and all related interpretations for recognition of our revenue from tours
and services. Previously we recorded revenue based on ASC Topic 605. Adoption of new accounting standard did not have any material impact
on our reported revenue.
Revenue is recognized when the following criteria
are met:
· |
Identification of the contract, or contracts, with customer; |
· |
Identification of the performance obligations in the contract; |
· |
Determination of the transaction price; |
· |
Allocation of the transaction price to the performance obligations in the contract; and |
· |
Recognition of revenue when, or as, we satisfy performance obligation. |
As of July 31, 2023 and April 30, 2023 the
Company has not generated any revenue.
Basic Income (Loss) Per Share
The Company computes income (loss) per share in
accordance with FASB ASC 260 “Earnings per Share”. Basic loss per share is computed by dividing net income (loss) available
to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share
gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common
shares if their effect is anti-dilutive. As of July 31, 2023 there were no potentially dilutive debt or equity instruments issued or outstanding.
Comprehensive Income
Comprehensive income is defined as all changes
in stockholders’ equity (deficit), exclusive of transactions with owners, such as capital investments. Comprehensive income includes
net income or loss, changes in certain assets and liabilities that are reported directly in equity such as translation adjustments on
investments in foreign subsidiaries and unrealized gains (losses) on available-for-sale securities. As of July 31, 2023 were no differences
between our comprehensive loss and net loss.
Stock-Based Compensation
Stock-based compensation is accounted for at fair
value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options.
Recent Accounting Pronouncements
We have reviewed all the recently issued, but
not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company.
Risks and Uncertainties
In December 2019, a novel strain of coronavirus
(COVID-19) emerged in Wuhan, Hubei Province, China. While initially the outbreak was largely concentrated in China and caused significant
disruptions to its economy, it has now spread to several other countries and infections have been reported globally.
The ultimate impact of the COVID-19 pandemic on
the Company’s operations is unknown and will depend on future developments, which are highly uncertain and cannot be predicted with
confidence, including the duration of the COVID-19 outbreak, new information which may emerge concerning the severity of the COVID-19
pandemic, and any additional preventative and protective actions that governments, or the Company, may direct, which may result in an
extended period of continued business disruption, reduced customer traffic and reduced operations. Any resulting financial impact cannot
be reasonably estimated at this time but is anticipated to have a material adverse impact on our business, financial condition and results
of operations.
The measures taken to date will impact the Company’s
business for the fiscal fourth quarter and potentially beyond. Management expects that all of its business segments, across all of its
geographies, will be impacted to some degree, but the significance of the impact of the COVID-19 outbreak on the Company’s business
and the duration for which it may have an impact cannot be determined at this time.
Note 4 – RELATED PARTY TRANSACTIONS
(LOAN FROM DIRECTOR)
In support of the Company’s efforts and
cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attains
adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support
by shareholders or director. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances were considered temporary
in nature and were not formalized by a signed promissory note.
As of July 31, 2023, our sole director has loaned
to the Company $NIL. The previous loan has been transferred to Additional Paid in Capital.
Note 5 – COMMON STOCK
The Company has 75,000,000, $0.0001 par value
shares of common stock authorized.
On February 21, 2020 the Company issued 3,000,000
shares of common stock to a director for services of $300 at $0.0001 per share.
In October 2020, the Company issued 143,000 shares
of common stock to 4 shareholders for cash proceeds of $2,860 at $0.02 per share.
In November, December and January 2021, the Company
issued 1,049,500 shares of common stock to 30 shareholders for cash proceeds of $20,990 at $0.02 per share.
There were 4,192,500 shares of common stock issued
and outstanding as of July 31, 2023.
Note 6 – COMMITMENTS AND CONTINGENCIES
N/A
Note 7 – SUBSEQUENT EVENTS
In accordance with SFAS 165 (ASC 855-10) the Company
has analyzed its operations subsequent to July 31, 2023 to the date these financial statements were issued, and has determined that it
does not have any material subsequent events to disclose in these financial statements.
The extent of the impact of the coronavirus ("COVID-19")
outbreak on the financial performance of the Company will depend on future developments, including the duration and spread of the outbreak
and related advisories and restrictions and the impact of COVID-19 on the overall economy, all of which are highly uncertain and cannot
be predicted. If the overall economy is impacted for an extended period, the Company’s future operating results may be materially
adversely affected.
FORWARD LOOKING STATEMENTS
Statements made in this Form 10-Q that are not
historical or current facts are "forward-looking statements" made pursuant to the safe harbor provisions of Section 27A of the
Securities Act of 1933 (the "Act") and Section 21E of the Securities Exchange Act of 1934. These statements often can be identified
by the use of terms such as "may," "will," "expect," "believe," "anticipate," "estimate,"
"approximate" or "continue," or the negative thereof. We intend that such forward-looking statements be subject to
the safe harbors for such statements. We wish to caution readers not to place undue reliance on any such forward-looking statements, which
speak only as of the date made. Any forward-looking statements represent management's best judgment as to what may occur in the future.
However, forward-looking statements are subject to risks, uncertainties and important factors beyond our control that could cause actual
results and events to differ materially from historical results of operations and events and those presently anticipated or projected.
We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of
such statement or to reflect the occurrence of anticipated or unanticipated events.
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATION
EMPLOYEES AND EMPLOYMENT AGREEMENTS
At present, we have no employees other than our
officer and director. We presently do not have pension, health, annuity, insurance, stock options, profit sharing or similar benefit plans;
however, we may adopt such plans in the future. There are presently no personal benefits available to any officers, directors or employees.
Results of Operation
Our financial statements have been prepared assuming
that we will continue as a going concern and, accordingly, do not include adjustments relating to the recoverability and realization of
assets and classification of liabilities that might be necessary should we be unable to continue in operation.
We expect we will require additional capital to
meet our long term operating requirements. We expect to raise additional capital through, among other things, the sale of equity or debt
securities.
Results of Operations Three months Ended July
31, 2023 & July 31, 2022
Revenue
We have not generated any revenues since our inception.
Operating Expenses
Our operating expenses for the three months ended
July 31, 2023 and three months ended July 31, 2022 are summarized as follows:
| |
Three Months Ended July 31, 2023 | | |
Three Months Ended July 31, 2022 | |
Revenue | |
$ | – | | |
$ | – | |
General and administrative | |
| 750 | | |
| 9,110 | |
Total Operating Expenses | |
$ | (750 | ) | |
$ | (9,110 | ) |
We have incurred expenses of $2,252 and $2,894 for professional fees
and incorporation fees.
Liquidity and Financial Condition
Working Capital
| |
At July 31, 2023 | | |
At April 30, 2023 | |
Current assets | |
$ | – | | |
$ | 5,530 | |
Current liabilities | |
| (750 | ) | |
| (35,015 | ) |
Working capital | |
$ | (750 | ) | |
$ | (18,485 | ) |
Our total current assets as of July 31, 2023 and April 30, 2023 were
$Nil and $5,530. Our total current liabilities as of July 31, 2023 were $(750) as compared to total current liabilities $(35,015) of as
of April 30, 2022. The decrease in current liabilities was attributed to director loan and paying company’s expenses being moved
to Additional Paid in Capital when the company transferred ownership.
Cash Flows from Operating Activities
We used cash of $(5,530) and $(9,314) for
operating activities for three months ended July 31, 2023 and 2022.
Cash Flows from Financing Activities
We have financed our operations primarily
from either advancements or the issuance of equity and related party advances.
For the three months ended July 31, 2022,
net cash from financing activities was $7,372 consisting of director loan;
For the three months ended July 31, 2023,
net cash from financing activities was $18,845 consisting of director loan being moved to Additional Paid in Capital.
Plan of Operation and Funding
We expect that working capital requirements will
continue to be funded through a combination of our existing funds and further issuances of securities. Our working capital requirements
are expected to increase in line with the growth of our business.
Existing working capital, further advances and
debt instruments, and anticipated cash flow are expected to be adequate to fund our operations over the next six months. We have no lines
of credit or other bank financing arrangements. Generally, we have financed operations to date through the proceeds of the private placement
of equity and debt instruments. In connection with our business plan, management anticipates additional increases in operating expenses
and capital expenditures relating to: (i) acquisition of inventory; (ii) developmental expenses associated with a start-up business; and
(iii) marketing expenses. We intend to finance these expenses with further issuances of securities, and debt issuances. Thereafter, we
expect we will need to raise additional capital and generate revenues to meet long-term operating requirements. Additional issuances of
equity or convertible debt securities will result in dilution to our current shareholders. Further, such securities might have rights,
preferences or privileges senior to our common stock. Additional financing may not be available upon acceptable terms, or at all. If adequate
funds are not available or are not available on acceptable terms, we may not be able to take advantage of prospective new business endeavors
or opportunities, which could significantly and materially restrict our business operations. We will have to raise additional funds in
the next twelve months in order to sustain and expand our operations. We currently do not have a specific plan of how we will obtain such
funding; however, we anticipate that additional funding will be in the form of equity financing from the sale of our common stock. We
have and will continue to seek to obtain short-term loans from our directors, although no future arrangement for additional loans has
been made. We do not have any agreements with our directors concerning these loans. We do not have any arrangements in place for any future
equity financing.
Off-Balance Sheet Arrangements
As of the date of this Quarterly Report, we do
not have any 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 investors.
Going Concern
The financial statements have been prepared "assuming
that we will continue as a going concern," which contemplates that we will realize our assets and satisfy our liabilities and commitments
in the ordinary course of business.
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES
ABOUT MARKET RISK.
No report required.
ITEM 4. CONTROLS AND PROCEDURES
Our management is responsible for establishing
and maintaining a system of disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act) that
is designed to ensure that information required to be disclosed by us 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 Commission’s rules and forms. Disclosure
controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed
by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer’s management,
including its principal executive officer or officers and principal financial officer or officers, or persons performing similar functions,
as appropriate to allow timely decisions regarding required disclosure.
An evaluation was conducted under the supervision
and with the participation of our management of the effectiveness of the design and operation of our disclosure controls and procedures
as of July 31, 2022. Based on that evaluation, our management concluded that our disclosure controls and procedures were not effective
as of such date to ensure that information 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 SEC rules and forms. Such officer also confirmed that there was
no change in our internal control over financial reporting during the three-months period ended July 31, 2022 that has materially affected,
or is reasonably likely to materially affect, our internal control over financial reporting.
PART II. OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
Management is not aware of any legal proceedings
contemplated by any governmental authority or any other party involving us or our properties. As of the date of this Quarterly Report,
no director, officer or affiliate is (i) a party adverse to us in any legal proceeding, or (ii) has an adverse interest to us in any legal
proceedings. Management is not aware of any other legal proceedings pending or that have been threatened against us or our properties.
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES
AND USE OF PROCEEDS
No report required.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
No report required.
ITEM 4. MINE SAFETY DISCLOSURES
Not applicable.
ITEM 5. OTHER INFORMATION
No report required.
ITEM 6. EXHIBITS
Exhibits:
SIGNATURES
In accordance with the requirements of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
Eventiko Inc.
|
|
|
Dated: September 19, 2023 |
By: /s/ Wei Zhong
Wei Zhong, President, Treasurer, Secretary and Director
(Principal Executive, Financial and Accounting Officer)
|
Exhibit 31.1
Certification of the Principal Executive Officer
I, Wei Zhong, Chief Executive Officer, certify that:
1. |
I have reviewed this quarterly report on Form 10-Q of Eventiko, Inc.; |
2. |
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. |
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
4. |
The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15 (f) and 15d-15(f)) for the registrant and have: |
(a) Designed such disclosure controls and procedures,
or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to
the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the
period in which this report is being prepared;
(b) Designed such internal control over financial
reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance
regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with
generally accepted accounting principles;
(c) Evaluated the effectiveness of the registrant’s
disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and
procedures, as of the end of the period covered by this report based on such evaluation; and
(d) Disclosed in this report any change in the
registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal three months
(the registrant’s fourth fiscal three months in the case of the annual report) that has materially affected, or is reasonably likely
to materially affect, the registrant’s internal control over financial reporting; and
5. |
The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): |
(a) All significant deficiencies and material
weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the
registrant’s ability to record, process, summarize and report financial information; and
(b) Any fraud, whether or not material, that involves
management or other employees who have a significant role in the registrant’s internal control over financial reporting.
Date: September 19, 2023 |
By: /s/ Wei Zhong |
|
Wei Zhong |
|
Chief Executive Officer |
|
(Principal Executive Officer) |
Exhibit 31.2
Certification of the Principal Financial Officer
I, Wei Zhong, Chief Financial Officer, certify that:
1. |
I have reviewed this quarterly report on Form 10-Q of Eventiko, Inc.; |
2. |
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. |
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
4. |
The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15 (f) and 15d-15(f)) for the registrant and have: |
(a) Designed such disclosure controls and procedures,
or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to
the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the
period in which this report is being prepared;
(b) Designed such internal control over financial
reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance
regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with
generally accepted accounting principles;
(c) Evaluated the effectiveness of the registrant’s
disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and
procedures, as of the end of the period covered by this report based on such evaluation; and
(d) Disclosed in this report any change in the
registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal three months
(the registrant’s fourth fiscal three months in the case of the annual report) that has materially affected, or is reasonably likely
to materially affect, the registrant’s internal control over financial reporting; and
5. |
The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): |
(a) All significant deficiencies and material
weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the
registrant’s ability to record, process, summarize and report financial information; and
(b) Any fraud, whether or not material, that involves
management or other employees who have a significant role in the registrant’s internal control over financial reporting.
Date: September 19, 2023 |
By: /s/ Wei Zhong |
|
Wei Zhong |
|
Chief Financial Officer |
|
(Principal Financial and Accounting Officer) |
Exhibit 32.1
CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
In connection with the Report of Eventiko, Inc.
(the “Company”) on Form 10-Q for the quarter ended July 31, 2023 as filed with the Securities and Exchange Commission on the
date hereof (the “Report”), I, Wei Zhong, Principal Executive Officer and Principal Financial Officer of the Company, certify,
pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 that, to the best of my knowledge:
|
1. |
The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and |
|
2. |
The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. |
Date: September 19, 2023 |
By: |
/s/ Wei Zhong |
|
|
Wei Zhong |
|
|
Chief Executive Officer and Chief Financial Officer |
v3.23.3
Cover
|
3 Months Ended |
Jul. 31, 2023
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Jul. 31, 2023
|
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Q1
|
Document Fiscal Year Focus |
2024
|
Current Fiscal Year End Date |
--04-30
|
Entity File Number |
333-239589
|
Entity Registrant Name |
EVENTIKO INC.
|
Entity Central Index Key |
0001816554
|
Entity Tax Identification Number |
98-1535709
|
Entity Incorporation, State or Country Code |
NV
|
Entity Address, Address Line One |
1445 Woodmont Ln NW #2639
|
Entity Address, City or Town |
Atlanta
|
Entity Address, State or Province |
GA
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Entity Address, Postal Zip Code |
30318
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v3.23.3
Balance Sheets (Unaudited) - USD ($)
|
Jul. 31, 2023 |
Apr. 30, 2023 |
Current Assets |
|
|
Cash and cash equivalents |
$ 0
|
$ 5,530
|
Total Current assets |
0
|
5,530
|
Fixed Assets |
0
|
11,000
|
Total Assets |
0
|
16,530
|
Liabilities |
|
|
Accounts Payable |
750
|
11,000
|
Accrued Expenses |
0
|
(24)
|
Related Party Loans |
0
|
24,039
|
Total Current liabilities |
750
|
35,015
|
Stockholders’ Equity |
|
|
Common stock, $0.0001 par value, 75,000,000 shares authorized; 4,192,500 shares issued and outstanding; |
419
|
419
|
Additional paid in capital |
42,216
|
23,731
|
Accumulated deficit |
(43,385)
|
(42,635)
|
Total Stockholders’ Equity |
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|
(18,485)
|
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v3.23.3
Balance Sheets (Unaudited) (Parenthetical) - $ / shares
|
Jul. 31, 2023 |
Apr. 30, 2023 |
Statement of Financial Position [Abstract] |
|
|
Common Stock, Par or Stated Value Per Share |
$ 0.0001
|
$ 0.0001
|
Common Stock, Shares Authorized |
75,000,000
|
75,000,000
|
Common Stock, Shares, Issued |
4,192,500
|
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|
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4,192,500
|
4,192,500
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v3.23.3
Statements of Operations (Unaudited) (Parenthetical) - $ / shares
|
3 Months Ended |
Jul. 31, 2023 |
Jul. 31, 2022 |
Income Statement [Abstract] |
|
|
Earnings Per Share, Basic |
$ (0.00)
|
$ (0.00)
|
Earnings Per Share, Diluted |
$ (0.00)
|
$ (0.00)
|
Weighted Average Number of Shares Outstanding, Basic |
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|
4,192,500
|
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v3.23.3
Statement of Stockholders' Equity (Unaudited) - USD ($)
|
Common Stock [Member] |
Additional Paid-in Capital [Member] |
Retained Earnings [Member] |
Total |
Beginning balance, value at Feb. 18, 2020 |
$ 0
|
$ 0
|
$ 0
|
$ 0
|
Shares, Outstanding, Beginning Balance at Feb. 18, 2020 |
0
|
|
|
|
Shares issued for cash at $0.02 per share in October, 2021 |
$ 300
|
|
|
300
|
Stock Issued During Period, Shares, New Issues |
3,000,000
|
|
|
|
Net loss |
|
|
(1,223)
|
(1,223)
|
Ending balance, value at Apr. 30, 2020 |
$ 300
|
0
|
(1,223)
|
(923)
|
Shares, Outstanding, Ending Balance at Apr. 30, 2020 |
3,000,000
|
|
|
|
Shares issued for cash at $0.02 per share in October, 2021 |
$ 14
|
2,846
|
|
2,860
|
Stock Issued During Period, Shares, New Issues |
143,000
|
|
|
|
Net loss |
|
|
$ (10,643)
|
$ (10,643)
|
Shares issued for cash at $0.02 per share in January, 2021 |
105
|
20,885
|
|
20,990
|
[custom:StockIssuedDuringPeriodSharesNewIssues1] |
1,049,500
|
|
|
|
Ending balance, value at Apr. 30, 2021 |
$ 419
|
$ 23,731
|
$ (11,866)
|
$ 12,284
|
Shares, Outstanding, Ending Balance at Apr. 30, 2021 |
4,192,500
|
|
|
|
Net loss |
|
|
(20,832)
|
(20,832)
|
Ending balance, value at Apr. 30, 2022 |
$ 419
|
23,731
|
(32,699)
|
(8,549)
|
Shares, Outstanding, Ending Balance at Apr. 30, 2022 |
4,192,500
|
|
|
|
Net loss |
|
|
(9,936)
|
(9,936)
|
Ending balance, value at Apr. 30, 2023 |
$ 419
|
23,731
|
(42,635)
|
(18,485)
|
Shares, Outstanding, Ending Balance at Apr. 30, 2023 |
4,192,500
|
|
|
|
Net loss |
|
|
(750)
|
(750)
|
Gain on Related Party Forgiveness of Debt |
|
18,485
|
|
18,485
|
Ending balance, value at Jul. 31, 2023 |
$ 419
|
$ 42,216
|
$ (43,385)
|
$ (750)
|
Shares, Outstanding, Ending Balance at Jul. 31, 2023 |
4,192,500
|
|
|
|
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|
v3.23.3
Statements of Cash Flows (Unaudited) - USD ($)
|
3 Months Ended |
12 Months Ended |
Jul. 31, 2023 |
Jul. 31, 2022 |
Apr. 30, 2023 |
Apr. 30, 2022 |
Operating Activities |
|
|
|
|
Net income (loss) |
$ (750)
|
$ (9,110)
|
$ (9,936)
|
$ (20,832)
|
Accounts Payable / Accrued Expenses |
(10,226)
|
(203)
|
|
|
Fixed Assets |
11,000
|
0
|
|
|
Increase in bank overdraft |
0
|
42
|
|
|
Net cash used in operating activities |
24
|
(9,271)
|
|
|
Financing Activities |
|
|
|
|
Related party loans |
(24,039)
|
7,372
|
|
|
Proceeds from sale of common stock |
0
|
0
|
|
|
Add’l Paid in Capital |
18,485
|
0
|
|
|
Net cash provided by financing activities |
(5,554)
|
7,372
|
|
|
Net increase in cash and equivalents |
(5,530)
|
(1,899)
|
|
|
Cash and equivalents at beginning of the period |
5,530
|
1,899
|
1,899
|
|
Cash and equivalents at end of the period |
0
|
0
|
$ 5,530
|
$ 1,899
|
Cash paid for: |
|
|
|
|
Interest |
0
|
0
|
|
|
Taxes |
$ 0
|
$ 0
|
|
|
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v3.23.3
ORGANIZATION AND NATURE OF BUSINESS
|
3 Months Ended |
Jul. 31, 2023 |
Accounting Policies [Abstract] |
|
ORGANIZATION AND NATURE OF BUSINESS |
Note 1 – ORGANIZATION AND NATURE
OF BUSINESS
We were incorporated in the State of Nevada on February 19, 2022 (Inception).
We maintain our statutory registered agent’s office at 3773 Howard Hughes Pkwy – Suite 500s, Las Vegas, NV 89169-6014. Our
principal executive offices are located at 1445 Woodmont Ln NW #2639 Atlanta, GA 30318.
Eventiko Inc. will organize fashion events, parties, exhibitions, festivals
and ceremonies initially in Thailand, but with plans at a later stage to spread our business to other Asian countries such as: Vietnam,
Cambodia etc. Our main source of revenue from operations will be generated from customers paying a fee for our services. Our fee service
will be 10-20% from the total price. We will be dedicated to working on clients event from conception through to final delivery. We will
work with each and every client to develop a concept that provides a holistic solution for his needs, focusing on time management, target
audience, budget and his overall vision.
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v3.23.3
GOING CONCERN
|
3 Months Ended |
Jul. 31, 2023 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
|
GOING CONCERN |
Note 2 – GOING CONCERN
The accompanying financial statements have been
prepared in conformity with generally accepted accounting principles, which contemplate continuation of the Company as a going concern.
The Company had accumulated deficit of $43,385 as of July 31, 2023 and $42,635 as of April 30, 2023. The Company currently has loses and
has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period
of time. Therefore, there is substantial doubt about the Company’s ability to continue as a going concern. Management anticipates
that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses The Company intends
to position itself so that it will be able to raise additional funds through the capital markets. In light of management’s efforts,
there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue
as a going concern.
|
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v3.23.3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
|
3 Months Ended |
Jul. 31, 2023 |
Accounting Policies [Abstract] |
|
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
Note 3 – SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES
Basis of presentation
The accompanying financial statements have been
prepared in accordance with generally accepted accounting principles in the United States of America. The Company’s year-end is
April 30.
Use of Estimates
The preparation of financial statements in conformity
with generally accepted accounting principles 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 the financial statements and the reported amount
of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents
The Company considers all highly liquid investments
with original maturities of three months or less to be cash equivalents. The Company had $NIL of cash as of July 31, 2023.
Fair Value of Financial Instruments
AS topic 820 “Fair Value Measurements and
Disclosures” establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy
prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market.
These tiers include:
Level 1: |
defined as observable inputs such as quoted prices in active markets; |
Level 2: |
defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and |
Level 3: |
defined as unobservable inputs
in which little or no market data exists, therefore requiring an entity to develop its own assumptions. |
The carrying value of cash and the Company’s
loan from shareholder approximates its fair value due to their short-term maturity.
Income Taxes
Income taxes are computed using the asset and
liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences
between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws.
A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.
Revenue Recognition
We adopted Accounting Standards Codification (“ASC”)
Topic 606, “Revenue from Contracts with Customers”, and all related interpretations for recognition of our revenue from tours
and services. Previously we recorded revenue based on ASC Topic 605. Adoption of new accounting standard did not have any material impact
on our reported revenue.
Revenue is recognized when the following criteria
are met:
· |
Identification of the contract, or contracts, with customer; |
· |
Identification of the performance obligations in the contract; |
· |
Determination of the transaction price; |
· |
Allocation of the transaction price to the performance obligations in the contract; and |
· |
Recognition of revenue when, or as, we satisfy performance obligation. |
As of July 31, 2023 and April 30, 2023 the
Company has not generated any revenue.
Basic Income (Loss) Per Share
The Company computes income (loss) per share in
accordance with FASB ASC 260 “Earnings per Share”. Basic loss per share is computed by dividing net income (loss) available
to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share
gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common
shares if their effect is anti-dilutive. As of July 31, 2023 there were no potentially dilutive debt or equity instruments issued or outstanding.
Comprehensive Income
Comprehensive income is defined as all changes
in stockholders’ equity (deficit), exclusive of transactions with owners, such as capital investments. Comprehensive income includes
net income or loss, changes in certain assets and liabilities that are reported directly in equity such as translation adjustments on
investments in foreign subsidiaries and unrealized gains (losses) on available-for-sale securities. As of July 31, 2023 were no differences
between our comprehensive loss and net loss.
Stock-Based Compensation
Stock-based compensation is accounted for at fair
value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options.
Recent Accounting Pronouncements
We have reviewed all the recently issued, but
not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company.
Risks and Uncertainties
In December 2019, a novel strain of coronavirus
(COVID-19) emerged in Wuhan, Hubei Province, China. While initially the outbreak was largely concentrated in China and caused significant
disruptions to its economy, it has now spread to several other countries and infections have been reported globally.
The ultimate impact of the COVID-19 pandemic on
the Company’s operations is unknown and will depend on future developments, which are highly uncertain and cannot be predicted with
confidence, including the duration of the COVID-19 outbreak, new information which may emerge concerning the severity of the COVID-19
pandemic, and any additional preventative and protective actions that governments, or the Company, may direct, which may result in an
extended period of continued business disruption, reduced customer traffic and reduced operations. Any resulting financial impact cannot
be reasonably estimated at this time but is anticipated to have a material adverse impact on our business, financial condition and results
of operations.
The measures taken to date will impact the Company’s
business for the fiscal fourth quarter and potentially beyond. Management expects that all of its business segments, across all of its
geographies, will be impacted to some degree, but the significance of the impact of the COVID-19 outbreak on the Company’s business
and the duration for which it may have an impact cannot be determined at this time.
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v3.23.3
RELATED PARTY TRANSACTIONS (LOAN FROM DIRECTOR)
|
3 Months Ended |
Jul. 31, 2023 |
Related Party Transactions [Abstract] |
|
RELATED PARTY TRANSACTIONS (LOAN FROM DIRECTOR) |
Note 4 – RELATED PARTY TRANSACTIONS
(LOAN FROM DIRECTOR)
In support of the Company’s efforts and
cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attains
adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support
by shareholders or director. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances were considered temporary
in nature and were not formalized by a signed promissory note.
As of July 31, 2023, our sole director has loaned
to the Company $NIL. The previous loan has been transferred to Additional Paid in Capital.
|
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- DefinitionThe entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.
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v3.23.3
COMMON STOCK
|
3 Months Ended |
Jul. 31, 2023 |
Equity [Abstract] |
|
COMMON STOCK |
Note 5 – COMMON STOCK
The Company has 75,000,000, $0.0001 par value
shares of common stock authorized.
On February 21, 2020 the Company issued 3,000,000
shares of common stock to a director for services of $300 at $0.0001 per share.
In October 2020, the Company issued 143,000 shares
of common stock to 4 shareholders for cash proceeds of $2,860 at $0.02 per share.
In November, December and January 2021, the Company
issued 1,049,500 shares of common stock to 30 shareholders for cash proceeds of $20,990 at $0.02 per share.
There were 4,192,500 shares of common stock issued
and outstanding as of July 31, 2023.
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v3.23.3
SUBSEQUENT EVENTS
|
3 Months Ended |
Jul. 31, 2023 |
Subsequent Events [Abstract] |
|
SUBSEQUENT EVENTS |
Note 7 – SUBSEQUENT EVENTS
In accordance with SFAS 165 (ASC 855-10) the Company
has analyzed its operations subsequent to July 31, 2023 to the date these financial statements were issued, and has determined that it
does not have any material subsequent events to disclose in these financial statements.
The extent of the impact of the coronavirus ("COVID-19")
outbreak on the financial performance of the Company will depend on future developments, including the duration and spread of the outbreak
and related advisories and restrictions and the impact of COVID-19 on the overall economy, all of which are highly uncertain and cannot
be predicted. If the overall economy is impacted for an extended period, the Company’s future operating results may be materially
adversely affected.
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v3.23.3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
|
3 Months Ended |
Jul. 31, 2023 |
Accounting Policies [Abstract] |
|
Basis of presentation |
Basis of presentation
The accompanying financial statements have been
prepared in accordance with generally accepted accounting principles in the United States of America. The Company’s year-end is
April 30.
|
Use of Estimates |
Use of Estimates
The preparation of financial statements in conformity
with generally accepted accounting principles 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 the financial statements and the reported amount
of revenues and expenses during the reporting period. Actual results could differ from those estimates.
|
Cash and Cash Equivalents |
Cash and Cash Equivalents
The Company considers all highly liquid investments
with original maturities of three months or less to be cash equivalents. The Company had $NIL of cash as of July 31, 2023.
|
Fair Value of Financial Instruments |
Fair Value of Financial Instruments
AS topic 820 “Fair Value Measurements and
Disclosures” establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy
prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market.
These tiers include:
Level 1: |
defined as observable inputs such as quoted prices in active markets; |
Level 2: |
defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and |
Level 3: |
defined as unobservable inputs
in which little or no market data exists, therefore requiring an entity to develop its own assumptions. |
The carrying value of cash and the Company’s
loan from shareholder approximates its fair value due to their short-term maturity.
|
Income Taxes |
Income Taxes
Income taxes are computed using the asset and
liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences
between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws.
A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.
|
Revenue Recognition |
Revenue Recognition
We adopted Accounting Standards Codification (“ASC”)
Topic 606, “Revenue from Contracts with Customers”, and all related interpretations for recognition of our revenue from tours
and services. Previously we recorded revenue based on ASC Topic 605. Adoption of new accounting standard did not have any material impact
on our reported revenue.
Revenue is recognized when the following criteria
are met:
· |
Identification of the contract, or contracts, with customer; |
· |
Identification of the performance obligations in the contract; |
· |
Determination of the transaction price; |
· |
Allocation of the transaction price to the performance obligations in the contract; and |
· |
Recognition of revenue when, or as, we satisfy performance obligation. |
As of July 31, 2023 and April 30, 2023 the
Company has not generated any revenue.
|
Basic Income (Loss) Per Share |
Basic Income (Loss) Per Share
The Company computes income (loss) per share in
accordance with FASB ASC 260 “Earnings per Share”. Basic loss per share is computed by dividing net income (loss) available
to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share
gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common
shares if their effect is anti-dilutive. As of July 31, 2023 there were no potentially dilutive debt or equity instruments issued or outstanding.
|
Comprehensive Income |
Comprehensive Income
Comprehensive income is defined as all changes
in stockholders’ equity (deficit), exclusive of transactions with owners, such as capital investments. Comprehensive income includes
net income or loss, changes in certain assets and liabilities that are reported directly in equity such as translation adjustments on
investments in foreign subsidiaries and unrealized gains (losses) on available-for-sale securities. As of July 31, 2023 were no differences
between our comprehensive loss and net loss.
|
Stock-Based Compensation |
Stock-Based Compensation
Stock-based compensation is accounted for at fair
value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options.
|
Recent Accounting Pronouncements |
Recent Accounting Pronouncements
We have reviewed all the recently issued, but
not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company.
|
Risks and Uncertainties |
Risks and Uncertainties
In December 2019, a novel strain of coronavirus
(COVID-19) emerged in Wuhan, Hubei Province, China. While initially the outbreak was largely concentrated in China and caused significant
disruptions to its economy, it has now spread to several other countries and infections have been reported globally.
The ultimate impact of the COVID-19 pandemic on
the Company’s operations is unknown and will depend on future developments, which are highly uncertain and cannot be predicted with
confidence, including the duration of the COVID-19 outbreak, new information which may emerge concerning the severity of the COVID-19
pandemic, and any additional preventative and protective actions that governments, or the Company, may direct, which may result in an
extended period of continued business disruption, reduced customer traffic and reduced operations. Any resulting financial impact cannot
be reasonably estimated at this time but is anticipated to have a material adverse impact on our business, financial condition and results
of operations.
The measures taken to date will impact the Company’s
business for the fiscal fourth quarter and potentially beyond. Management expects that all of its business segments, across all of its
geographies, will be impacted to some degree, but the significance of the impact of the COVID-19 outbreak on the Company’s business
and the duration for which it may have an impact cannot be determined at this time.
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v3.23.3
COMMON STOCK (Details Narrative) - USD ($)
|
|
1 Months Ended |
3 Months Ended |
|
Feb. 21, 2020 |
Oct. 31, 2020 |
Jul. 31, 2023 |
Jul. 31, 2022 |
Jan. 31, 2021 |
Apr. 30, 2023 |
Defined Benefit Plan Disclosure [Line Items] |
|
|
|
|
|
|
Common Stock, Shares Authorized |
|
|
75,000,000
|
|
|
75,000,000
|
Common Stock, Par or Stated Value Per Share |
|
|
$ 0.0001
|
|
|
$ 0.0001
|
Proceeds from Issuance of Common Stock |
|
|
$ 0
|
$ 0
|
|
|
Common Stock, Shares, Outstanding |
|
|
4,192,500
|
|
|
4,192,500
|
Director [Member] |
|
|
|
|
|
|
Defined Benefit Plan Disclosure [Line Items] |
|
|
|
|
|
|
Stock Issued During Period, Shares, Issued for Services |
3,000,000
|
|
|
|
|
|
Stock Issued During Period, Value, Issued for Services |
$ 300
|
|
|
|
|
|
Four Shareholders [Member] |
|
|
|
|
|
|
Defined Benefit Plan Disclosure [Line Items] |
|
|
|
|
|
|
Stock Issued During Period, Shares, New Issues |
|
143,000
|
|
|
|
|
Proceeds from Issuance of Common Stock |
|
$ 2,860
|
|
|
|
|
Thirty Shareholders [Member] |
|
|
|
|
|
|
Defined Benefit Plan Disclosure [Line Items] |
|
|
|
|
|
|
Stock Issued During Period, Shares, New Issues |
|
|
|
|
1,049,500
|
|
Proceeds from Issuance of Common Stock |
|
|
|
|
$ 20,990
|
|
X |
- DefinitionFace amount or stated value per share of common stock.
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