The adhering to conversation of our economic problem as well as outcomes of procedures
must read along with the unaudited compressed economic declarations
as well as the notes to those economic declarations that are consisted of in other places in this
record as well as along with the audited economic declarations as well as explanations
thereto consisted of in the Business’s yearly record on Kind 10-K for the year finished
progressive declarations based upon present assumptions that include dangers
as well as unpredictabilities, such as our strategies, purposes, assumptions as well as purposes.
Real outcomes as well as the timing of occasions can vary materially from those
expected in these progressive declarations as an outcome of a variety of
elements, consisting of those stated under the Threat Elements, Cautionary Declaration
Pertaining To Progressive Declarations as well as Service areas in the audited
economic declarations as well as explanations thereto consisted of in the Business’s yearly
record on Kind 10-K for the year finished
History as well as Summary.
qualified as well as bought software program services. Because beginning, the Business authorized.
2 letters of intent with an associated celebration to certify exclusive software program.
technology services, i.e., Gigabyte Killer as well as WARP-G.
concentrated in huge component on business tasks as well as the advancement of its.
organization strategies to certify the Gigabyte Killer software program application that is.
created to provide online video clip streams, video clip downloads as well as huge information documents.
much more successfully by utilizing brand-new exclusive information compression technology as well as to.
certificate the WARP-G software program remedy that is created to make it possible for venture.
consumers that send online video clip streams, video clip downloads as well as huge information documents.
to press such information over existing pipes at greater rates in much less time likewise by.
making use of brand-new exclusive information compression technology. The Business finished the.
certificate of Gigabyte Killer as well as WARP-G software program on
Business is taking a three-pronged method to advertise its organization: 1).
sub-license the Gigabyte Killer as well as WARP-G software program; 2) get civil liberties to.
added technology; 3) offer the right to sublicense the software program.
While the Business’s procedures have actually not been materially impacted by the COVID-19.
break out to day, the best period as well as seriousness of the break out as well as its.
effect on the financial setting as well as organization doubts. Appropriately, while.
the Business does not prepare for an influence on its procedures, the period of the.
pandemic as well as possible effect on business can not be approximated. The spread of.
the coronavirus, which has actually triggered a wide effect around the world, consisting of.
limitations on traveling as well as quarantine plans took into location by services as well as.
federal governments, might have a worldly financial result on our organization. While the.
possible financial effect caused by as well as the period of the pandemic might be.
tough to examine or forecast, it has actually currently triggered, as well as is most likely to result.
in additionally, substantial interruptions of international economic markets, which may.
decrease the Business’s future capacity to accessibility funding either in any way or on.
desirable terms. Additionally, an economic downturn, clinical depression or various other continual damaging.
market occasions arising from the spread of the coronavirus can materially as well as.
detrimentally influence our organization as well as the worth of our ordinary shares. Additionally, a.
extreme or extended financial recession can cause a selection of dangers to the.
organization, consisting of a feasible hold-up in executing our organization strategy. At this.
time, the Business is incapable to approximate the effect of this occasion on its.
second Modified as well as Reiterated Technology Advertising as well as Permit Contract
contract are as adheres to:
Adjustment Thing 1., Permit.
– to make the certificate unique
– to provide the Business a Right-of-First Rejection to get future unique.
advertising certificate for brand-new modern technologies
– to eliminate Business’s alternative to broker as well as split profits for sale of Soft Tech’s.
Adjustment Thing 12, Discontinuation
– to provide Licensor (Soft Tech) right to end the contract upon:
– modification in executive administration of Business
– sale of bulk passion in Business to third celebration
– there is an Adjustment of Control in the Business
Strategy of Workflow. Advertising the Products.
Monitoring has actually made a decision that the fastest means to obtain the Business’s modern technologies to.
market is to not carry the ball ourselves. Various 3rd parties currently have.
the requisite facilities in position as well as there is no demand for the Business to.
re-build those aspects. In addition, the 3rd parties we look for to straighten.
ourselves with, are much better placed to manage the retail, organization as well as.
governmental advertising fields worldwide. They will certainly be experienced, around the world.
popular entities with every little thing currently in position for a fast.
launch/utilization of the Business’s technology.
There are 3 primary courses that the Business is seeking: 1) Certifying the.
technology to 3rd parties; 2) Marketing the technology by means of Permanent Permit to.
a third-party; 3) Procurement of the Business by a 3rd party by means of an adjustment of.
control of the Business; every one of which would certainly create up front as well as recurring.
earnings for the Business.
Gigabyte Killer Software Program
Gigabyte Killer is an unique mobile application produced to make it possible for individuals to.
send much more information over existing information streams to maximize information use throughout.
mobile phones consisting of mobile phones as well as tablet computers. The application is created to.
remove video clip streaming hold-ups as well as decrease consumers’ information intend transmission capacity use.
from any kind of 3G or 4G LTE mobile phone network service provider. The application is created.
to provide online video clip streams, video clip downloads as well as huge information documents much more.
successfully by utilizing brand-new exclusive information compression technology. This.
technology dramatically decreases the information bundle dimension as well as boosts the information.
website traffic control in between mobile phone service provider information downloads as well as uploads to.
consumers’ mobile phones.
Internet web browsers execute different degrees of caching information, the method of keeping.
information in as well as obtaining information from a memory gadget. Regrettably, numerous usage.
unsophisticated cache control capacities. In contrast, Gigabyte Killer information.
compression can enhancing the high transmission capacity downloads as well as returns.
the information to individuals’ mobile phones. This procedure is anticipated to substantially.
decrease the information transmission capacity required when seeing on-line video clips, playing online.
video games, or merely downloading and install huge information documents. The solution is targeted to go into.
the smart phone market by providing application downloads with a month-to-month.
service charge. A mobile phone as well as tablet computer customer making use of the Gigabyte Killer.
application is anticipated to be able to lower their information use on their present.
information intend, at no added expense, from their mobile phone service provider. Additionally,.
Gigabyte Killer is created to remove downloads “buffering” presently.
experienced by numerous present applications.
WARP-G Software Program
WARP-G is a business-to-business software program remedy that business can make use of on an.
venture broad basis to send even more information over existing information streams to.
maximize their information use. The software program is created to make it possible for venture individuals.
to provide faster information streams, experience much shorter download/upload times as well as.
boost the quantity as well as rate of the information. The software program is created to develop.
much less blockage as well as boost the rate of packages being supplied much more.
successfully by utilizing brand-new exclusive information compression technology. This.
technology is anticipated to enable the venture individuals to press even more information via.
existing pipes satisfying raising customer video clip needs as well as various other huge.
Outcomes of Workflow for the 3 as well as 9 months finished
software program consequently triggering the decrease in earnings. Price of sales was
as well as 9 months finished
3 as well as 9 months finished
gross earnings decreases were likewise because of the loss of the eCampus client.
Overall operating budget which are included incomes as well as relevant expenditures,.
as well as basic as well as management expenditures were
arised from the reduction in incomes as well as relevant cost because of the wage.
specifically. The boost is mostly attributable to the negotiation contract.
as well as furthermore, enhances in stock market as well as audit costs partly balanced out by.
declines in web cable television costs, insurance coverage, as well as repair services as well as upkeep.
The bottom line was
attributable to the reduction in
boost in passion cost arising from the Owens’ negotiation contract. The.
bottom line was
negotiation contract with
extinguishment of responsibilities as well as supply based settlement cost as well as rises.
in exchange costs, audit costs, as well as passion cost partly balanced out by declines.
in web cable television costs, insurance coverage, as well as repair services as well as upkeep.
Liquidity, Going Problem as well as Unpredictabilities
Liquidity is the capacity of a venture to create appropriate quantities of cash money.
to satisfy its requirements for cash money demands. Since
funding deficiency totaled up to
functioning funding deficiency of
functioning funding deficiency is mostly an outcome of the reduction in accumulated.
incomes as well as relevant expenditures associated with the modifying of
contract as well as lowers in accounts payable as well as quantities due to investor as well as.
a boost in pre paid expenditures as well as partly balanced out by a boost in accumulated.
Web cash money utilized in running tasks was
attributable to declines in accounts payable as well as accumulated incomes as well as relevant.
expenditures, as well as a boost in pre paid expenditures as well as accumulated passion.
Web cash money offered by funding tasks was
boost in cash loan gotten from our managing investor.
The unaudited compressed economic declarations have actually been prepared in consistency.
with typically approved audit concepts, which consider extension of.
the Business as a going problem. To day, the Business’s industrial procedures.
have actually not created appropriate earnings to make it possible for success. Based upon the.
present organization strategies as well as the Business’s operating demands, administration.
thinks that the present cash money equilibrium will certainly not suffice to money procedures.
for at the very least the following twelve months adhering to the issuance of these economic.
declarations. These elements increase considerable question concerning the Business’s.
capacity to proceed as a going problem.
The Business’s proceeded procedures will certainly rely on its capacity to increase.
added funding via different possible resources, such as equity offerings.
and/or financial obligation fundings, critical partnerships, as well as to efficiently perform its.
organization strategies. Monitoring is proactively seeking funding, yet can offer no.
guarantees that such funding will certainly be readily available on appropriate terms, or in any way.
Without this financing, the Business can be needed to postpone, downsize or.
remove some or every one of its organization strategies which would likely have a product.
damaging result on the Business.
The unaudited compressed economic declarations do not consist of any kind of modifications.
associating with the recoverability as well as category of possession bring quantities or.
the quantity as well as category of responsibilities that may result must the.
Business be overcome as a going problem.
Usually, the Business’s procedures go through a variety of elements that can.
influence its operating outcome as well as economic problem. Such elements consist of, yet.
are not restricted to, the outcomes of our advertising initiatives to advertise individuals for.
our software program services, effective launch as well as approval of our software program.
services in the industry, competitors of our software program services, tourist attraction.
of skilled as well as experienced staff members to sustain business as well as the capacity to.
increase funding to sustain its procedures.
Because our beginning, we have actually been moneyed by fundings from our managing.
contract, are non-interest bearing as well as payable upon need by
we have enough funding sources to pay off such fundings. We presently have no.
contracts, plans or understandings with anybody to get funds.
via small business loan, credit lines or any kind of various other resources. There can be no.
guarantee that added funding will certainly be readily available to us. Because we have no.
various other such plans or strategies presently basically, our lack of ability to increase.
funds for the above functions that surpass our present capital will certainly have a.
extreme unfavorable effect on our capacity to stay a feasible firm.
We have actually sustained substantial losses because our beginning on
had a bottom line for the nine-month duration finished
as well as a collected deficiency since
we are incapable to protect a credit line from an associated firm, we will.
remain to look for sub-license contracts for our Gigabyte Killer as well as WARP-G.
items yet hold-up, downsize or remove some or every one of our added.
organization strategies till we increase added funding. Because we have no contract or.
plans for any kind of future financing from
for how long we will certainly have the ability to run our organization. This increases considerable question.
concerning our capacity to proceed as a going problem.
Monitoring’s strategy is to get such sources for our funding requirements by getting.
funding from administration as well as substantial investors enough to satisfy its.
operating budget. Nevertheless, administration can not offer any kind of guarantees that we.
will certainly succeed in completing any one of our strategies.
Our capacity to proceed as a going problem depends on our capacity to.
efficiently achieve the strategies defined in the coming before paragraph as well as.
at some point protect various other resources of funding as well as obtain successful procedures.
The coming with economic declarations do not consist of any kind of modifications that might.
be essential if we were overcome as a going problem.
Essential Audit Plans as well as Quotes
Our substantial audit plans are much more completely defined in the notes to our.
unaudited compressed economic declarations consisted of here for the nine-month.
consists of audited economic declarations for the years finished
2020. Our company believe that the audit plans listed below are essential for one to.
completely comprehend as well as assess our economic problem as well as outcomes of procedures.
The prep work of the unaudited compressed economic declarations calls for.
administration to make quotes as well as presumptions that influence the reported quantities of.
possessions as well as responsibilities as well as disclosure of contingent possessions as well as responsibilities at.
the day of the unaudited compressed economic declarations as well as the reported.
quantities of earnings as well as expenditures throughout the coverage duration. Real outcomes.
can vary from these quotes. Particular of our quotes, consisting of.
reviewing the collectability of balance dues, can be impacted by.
outside problems, consisting of those special to our market, as well as basic.
financial problems. It is feasible that these outside elements can have an.
result on our quotes that can create real outcomes to vary from our.
quotes. We re-evaluate every one of our audit approximates at the very least quarterly.
based upon these problems as well as document modifications when essential. Substantial.
quotes made by administration consist of the evaluation of deferred tax obligation possessions, reasonable.
worth of participating preferred stock, as well as supply based settlement.
The Business identifies earnings when control of the assured items or solutions.
are moved to its consumers in a quantity that mirrors the factor to consider.
the Business anticipates to be qualified to for those items or solutions.
For trainee costs, the Business produces trainee charge earnings by signing up each.
trainee that takes part in an internet class using our eCampus.
system. This earnings is made at the time the online course happens as well as.
is accumulated throughout the duration whether in fact billed. The trainee costs.
are billed to the university carrying out the courses throughout the duration the courses.
are carried out. There are no early repayments for trainee costs so there is no postponed.
earnings pertaining to trainee costs. The yearly charge credited the university is billed.
in the very first quarter of the year as well as the revenue is identified over the whole.
The Business shed its only client in
client degree. The Business will certainly preserve its eCampus system for future.
consumers as well as the Business’s earnings plans as well as treatments defined over.
The Business identified no earnings from trainee as well as yearly costs throughout the 3.
as well as 9 month durations finished
The Business make up leases under ASU 2016-02. Running leases are consisted of.
in running lease right-of-use (” ROU”) possessions as well as running lease responsibilities.
on the compressed annual report. The Business rents workplace devices utilized to.
perform our organization.
Operating lease ROU possessions stand for the right to make use of the rented possession for the.
lease term as well as running lease responsibilities are identified based upon the here and now.
worth of the future minimum lease repayments over the lease term at start.
day. As a lot of leases do not offer an implied price, the Business utilizes an.
step-by-step interest rate based upon the info readily available at the fostering.
day in identifying the here and now worth of future repayments. Running lease.
cost is identified on a straight-line basis over the lease term as well as is.
consisted of as a whole as well as management expenditures in the unaudited compressed.
declarations of procedures. Throughout the 3 as well as 9 months finished
specifically, for the 3 as well as 9 months finished
lease cost which is consisted of as a whole as well as management expenditures on the.
unaudited compressed declarations of procedures. Since
Off-Balance Sheet Plans
We have no off-balance sheet plans.
© Edgar Online, resource