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, but are not limited to
those discussed below and elsewhere in this annual report.
Our audited financial statements are stated in
Results of Operations
The period ended
We have generated no revenues since inception (
The following table provides selected financial data about our company as at
January 31, 2014and 2013. Balance sheet Data: Balance Sheet Date January 31, 2014 January 31, 2013 Cash $ 30,983 $ 1,064 Total Assets $ 30,983 $ 1,064 Total Liabilities $ 6,005 $ 3,500 Stockholders' Equity (Deficit) $ 24,978 $ (2,436 )
The following summary of our results of operations, for the year ended
Period Period from from Inception Inception (June 25, (June 25, Year Ended 2012) to 2012) to January 31, January 31, January 2014 2013 31, 2014 Revenue $ - $ - $ - Operating Expenses: General and administrative 2,128 - 2,128 Professional fees 25,468 4,987 30,455 Total Operating Expenses 27,596 4,987 32,583 Operating and net loss
$ (27,596 ) $ (4,987 ) $ (32,583 )Expenses
Operating expenses for the year ended
Liquidity and Financial Condition
Working Capital At At January 31, January 31, 2014 2013 Increase Current Assets
$ 30,983 $ 1,064 $ 29,919Current Liabilities $ 6,005 $ 3,500 $ 2,505Working Capital (Deficiency) $ 24,978 $ (2,436 ) $ 27,414Cash Flows June 25, 2012 Year Ended (Inception) to January 31, January 31, 2014 2013 Net Cash Provided by (Used in) Operating Activities $ (25,091 ) $ (1,487 )Net Cash Used in Investing Activities $ - $ - Net Cash Provided by Financing Activities $ 55,010$ 2,551 Net Increase in Cash During the Period $ 29,919$ 1,064
During the year ended
From inception through to
During the year ended
Plan of Operation
Our auditors have issued a going concern opinion. This means that there is substantial doubt that we can continue as an on-going business for the next twelve months unless we obtain additional capital and/or generate sufficient revenues to pay for our expenses. Our only source for cash at this time is investments by others. We must raise cash and/or begin increase our revenues to stay in business. At this time, however, the Company does not have plans or intentions to raise additional funds by way of the sale of additional securities.
Resort Savers is a development stage company that has minimal operations, no revenue, no financial backing and limited assets. Our plan is to provide online discounted activities, dining and entertainment, as well as the use of our CRM system for a monthly fee.
During the first year of operations, the 12 month period from the date of this report, Resort Savers will concentrate on developing its' CRM system, prospect for vendors and advertisers and market our business on affiliate websites.
For our Internet marketing efforts, the websites content is search-engine optimized ("SEO"), as well as outreaches (i.e., emailing) to partner sites and blogs that specialize in the travel and resort-destination industries to build website link exchanges; these are sites and blogs that specialize in the travel and visitor industries, driving traffic to our site. We will also utilize
We will begin development of the cloud-based CRM system that will be used to manage our business in the second quarter of the current fiscal year. We expect development to take approximately 4 months. We expect to allocate
In the event that we do not have sufficient funds, we will endeavor to proceed with our plan of operations by locating alternative sources of financing. Although there are no written agreements in place, one form of alternative financing that may be available to us is self-financing through contributions from the officers and directors. While the officers and directors have generally indicated a willingness to provide services and financial contributions if necessary, there are presently no agreements, arrangements, commitments, or specific understandings, either verbally or in writing, between the officers and directors and Resort Savers.
During the next year of operations, our officers and directors will also provide their labor at no charge. We do not anticipate hiring any staff in the next 12 months of operation, and will rely on the services of an outside contractor for the development of our CRM system.
We are a public entity, subject to the reporting requirements of the Securities Exchange Act of 1934. We will incur ongoing expenses associated with professional fees for accounting, legal and a host of other expenses for annual reports and proxy statements. We estimate that these accounting, legal and other professional costs would be a minimum of
At present, we have enough cash on hand to cover our expected legal and accounting costs and minimal development of our business plan for the next 12 months. If we do not have sufficient funds to proceed with the implementation of our business plan, we may have to find alternative sources of funds, like a second public offering, a private placement of securities, or loans from our officers or third parties (such as banks or other institutional lenders). Equity financing could result in additional dilution to then existing shareholders. If we are unable to meet our needs for cash from cash on hand, or possible alternative sources, then we may be unable to continue to maintain, develop or expand our operations.
Limited Operating History; Need for
There is no historical financial information about us on which to base an evaluation of our performance. We are a development stage company and have generated no revenues from operations. We cannot guarantee we will be successful in our business operations. Our business is subject to risks inherent in the establishment of a new business enterprise, including limited capital resources, possible delays in developing our website, and possible cost overruns due to the price and cost increases in supplies and services.
At present, we only have enough cash on hand to cover operating costs and minimal development costs for the next 12 months.
If we are unable to meet our needs for cash from either our operations, or possible alternative sources, then we may be unable to continue, develop, or expand our operations.
Liquidity and Capital Resources
To meet our need for cash we raised money from our recent Offering. On
We received our initial funding of
Currently we have sufficient capital to fund partial development of our business for the next 12 months and we feel we have enough funds to cover our professional fees for the next 12 months.
Our financial statements from
Off-Balance Sheet Arrangements
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 is material to investors.