At the moment, it intends to deploy Asian based capital to develop and acquire mining assets in
The Company is highly leveraged and expects to be able to capitalize on suitable possibilities when identified.
Limited Operating History; Need for
There is no historical financial information about us upon which to base an evaluation of our performance. We have no revenue generating assets. 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 and possible cost overruns due to price and cost increases in services.
We will require additional financing to cover our costs that we expect to incur over the next twelve months. We believe that debt financing will not be an alternative for funding our operations as we do not have tangible assets to secure any debt financing. We anticipate that additional funding will be in the form of equity financing from the sale of our common stock. However, we cannot provide any assurance that we will be able to raise sufficient funding from the sale of our common stock to fund our plan of operations. In the absence of such financing, we will not be able to continue and our business plan will fail.
Results of Operations Revenues
We have not generated any revenues from our operations during the three-month period ended
We incurred general and administrative expenses of
Our management fees remained the same at
We did not incur any consulting or professional fees during either quarter.
Liquidity and Capital Resources
Cash Used in Operating Activities
Net cash used in operating activities was
Cash Used in Investing Activities
We did not incur any investment costs in the three-month period ended
Cash from Financing Activities
We have funded our business to date primarily from sales of our common stock but did not sell any common stock during the three months ended
4 Going Concern
We are a development stage company. In a development stage company, management devotes most of its activities to developing a market for its products and services. Planned principal activities have begun, but we have not generated revenues to date.
We anticipate continuing to rely on equity sales of our common stock in order to continue to fund our business operations. Issuances of additional shares will result in dilution to our existing shareholders. There is no assurance that we will achieve any additional sales of our equity securities or arrange for debt or other financing to fund our planned operations.
Off-Balance Sheet Arrangements
We have no 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 stockholders.