Cautionary Note Regarding Forward-Looking Statements [Cautionary Note Regarding Forward-Looking Statements](index=4&type=section&id=Cautionary%20Note%20Regarding%20Forward-Looking%20Statements) This report contains forward-looking statements based on current information which are subject to risks and not guarantees of future performance - Forward-looking statements are subject to risks and uncertainties that could cause **actual results to differ materially**[6](index=6&type=chunk) - Key risk factors include the ability to execute growth strategies, find manufacturing partners, and navigate **general economic conditions**[8](index=8&type=chunk) - The company has **no obligation to update** forward-looking statements to reflect subsequent events or circumstances[9](index=9&type=chunk) PART I – Financial Information [Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) The unaudited statements for the period ending September 30, 2019, show no revenue and a net loss for the early-stage company Condensed Balance Sheet as of September 30, 2019 | Account | Amount ($) | | :--- | :--- | | **Assets** | | | Cash | 221,511 | | **Total Assets** | **221,511** | | **Liabilities & Stockholders' Deficit** | | | Accrued Expenses | 110,000 | | Amount due to Shareholders | 144,501 | | **Total Liabilities** | **254,501** | | **Total Stockholders' Deficit** | **(32,990)** | Condensed Statement of Operations (Unaudited) | Period | 3 months ended Sep 30, 2019 | From Inception (Mar 28, 2019) to Sep 30, 2019 | | :--- | :--- | :--- | | Revenue | $0 | $0 | | General and Administrative Expenses | 255,010 | 110,921 | | **Net Loss** | **($255,010)** | **($110,921)** | Condensed Statement of Cash Flows (From Inception to Sep 30, 2019) | Cash Flow Activity | Amount ($) | | :--- | :--- | | Net Cash Used in Operating Activities | (509) | | Net Cash Provided by Financing Activities | 222,020 | | **Change in Cash** | **221,511** | | **Cash at End of Period** | **221,511** | - The company was incorporated on March 28, 2019, and is developing an online e-commerce platform for travel products in China[18](index=18&type=chunk)[19](index=19&type=chunk) - As of September 30, 2019, the company had an outstanding loan of **$144,500** from its directors, which is unsecured and interest-free[39](index=39&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=13&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's early-stage status, attributing the net loss to administrative expenses and reliance on founder and equity financing - The company is an early-stage business whose activities have been limited to formation and raising equity capital[44](index=44&type=chunk)[46](index=46&type=chunk) Results of Operations Summary | Period | Revenue ($) | General & Administrative Expense ($) | Net Loss ($) | | :--- | :--- | :--- | :--- | | Inception to Sep 30, 2019 | 0 | 255,010 | (255,010) | | Three months ended Sep 30, 2019 | 0 | 110,921 | (110,921) | - As of September 30, 2019, the company had **$221,511 in cash** and has relied on funds from founders and capital raises[53](index=53&type=chunk) - Financing activities provided **$222,020 in cash** from the issuance of 74,000 shares to new shareholders[56](index=56&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=16&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company is exempt from market risk disclosures as it qualifies as a "smaller reporting company" - As a **"smaller reporting company"** defined by Item 10(f)(1) of Regulation S-K, the company is not required to provide the information for this item[60](index=60&type=chunk) [Controls and Procedures](index=16&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls were ineffective due to material weaknesses like a lack of an audit committee and independent directors - Management concluded that disclosure controls and procedures were **not effective** due to limited internal resources and lack of multiple levels of transaction review[63](index=63&type=chunk) - Identified material weaknesses include the **lack of an audit committee**, a lack of a majority of outside directors, and management domination by two individuals without compensating controls[63](index=63&type=chunk) - There were **no changes** in internal control over financial reporting during the most recently completed fiscal quarter[65](index=65&type=chunk) PART II – Other Information [Legal Proceedings](index=17&type=section&id=Item%201.%20Legal%20Proceedings) The company was not involved in any legal proceedings during the nine months ended September 30, 2019 - The company was **not subject to any legal proceedings** during the nine months ended September 30, 2019[67](index=67&type=chunk) [Risk Factors](index=17&type=section&id=Item%201.%20A%20Risk%20Factors) The company is not required to provide information on risk factors as it qualifies as a "smaller reporting company" - As a **"smaller reporting company,"** the company is not required to provide the information contained in this item[68](index=68&type=chunk) [Unregistered Sales of Equity Securities And Use Of Proceeds](index=17&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20And%20Use%20Of%20Proceeds) The company issued an additional 74,000 shares to 13 new shareholders during the nine months ended September 30, 2019 - The company issued an additional **74,000 shares** to 13 shareholders during the nine months ended September 30, 2019[69](index=69&type=chunk) [Defaults Upon Senior Securities](index=17&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company had no senior securities issued or outstanding during the nine months ended September 30, 2019 - **No senior securities** were issued and outstanding during the period[70](index=70&type=chunk) [Mine Safety Disclosures](index=17&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company's business - **Not applicable** to the Company[70](index=70&type=chunk) [Other Information](index=17&type=section&id=Item%205.%20Other%20information) There is no other information to report for this period - **None**[70](index=70&type=chunk) [Exhibits](index=18&type=section&id=Item%206.%20Exhibits) This section lists filed exhibits, including corporate governance documents and Sarbanes-Oxley certifications - The report includes exhibits such as Amended and Restated Articles of Incorporation, By-Laws, and officer certifications pursuant to the **Sarbanes-Oxley Act of 2002**[72](index=72&type=chunk) Signatures [Signatures](index=19&type=section&id=Signatures) The quarterly report was duly authorized and signed on November 13, 2019, by the CEO and CFO - The report was signed on November 13, 2019, by **Zheng, Dai (Chief Executive Officer)** and **Kean Tat, Che (Chief Financial Officer)**[74](index=74&type=chunk)