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EX-32.1 - CERTIFICATION - ANTILIA GROUP, CORP.aggg_ex321.htm
EX-31.1 - CERTIFICATION - ANTILIA GROUP, CORP.aggg_ex311.htm

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Form 10-Q

(Mark One)

 

x

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the quarterly period ended October 31, 2018

 

or

 

¨

TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from ____________ to ____________

 

Commission File Number 333-216184

 

ANTILIA GROUP, CORP.

(Exact name of registrant as specified in its charter)

 

Nevada

98-1328653

(State or other jurisdiction of incorporation or organization)

(IRS Employer Identification No.)

 

 

 

Calle Duarte, No. 6, Sosua, Dominican Republic

(Address of principal executive offices)

(Zip Code)

 

829-217-2262

(Registrant’s telephone number, including area code)

 

N/A

(Former name, former address and former fiscal year, if changed since last report)

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 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     x NO

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted 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 and post such files). x YES     ¨ NO

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the 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

x

(Do not check if a smaller reporting company)

Emerging growth company

x

 

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 check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act) ¨ YES     x NO

 

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY

PROCEEDINGS DURING THE PRECEDING FIVE YEARS

 

Check whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a court. ¨ YES     ¨ NO

 

APPLICABLE ONLY TO CORPORATE ISSUERS

 

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

 

4,290,000 common shares issued and outstanding as of November 27, 2018.

 

 

TABLE OF CONTENTS

 

PART I - FINANCIAL INFORMATION.

 

Item 1.

Financial Statements.

 

3

 

Item 2.

Management’s Discussion and Analysis of Financial Condition or Plan of Operation.

 

9

 

Item 3.

Quantitative and Qualitative Disclosures About Market Risk.

 

12

 

Item 4.

Controls and Procedures.

 

12

 

PART II - OTHER INFORMATION.

 

Item 1.

Legal Proceedings.

 

13

 

Item 1A.

Risk Factors.

 

13

 

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds.

 

13

 

Item 3.

Defaults Upon Senior Securities.

 

13

 

Item 4.

Mine Safety Disclosures.

 

13

 

Item 5.

Other Information.

 

13

 

Item 6.

Exhibits.

 

14

 

SIGNATURES.

 

15

 

 
2
 
Table of Contents

 

PART I - FINANCIAL INFORMATION

 

Item 1. Financial Statements

 

ANTILIA GROUP, CORP.

Balance Sheets

(Unaudited)

 

 

 

October 31,

2018

 

 

January 31,

2018

 

 

 

 

 

 

 

 

ASSETS

 

 

 

 

 

 

Current Assets

 

 

 

 

 

 

Cash and cash equivalents

 

$ -

 

 

$ 986

 

Total Current Assets

 

 

-

 

 

 

986

 

Inventory

 

 

-

 

 

 

4,320

 

Property and equipment, net of accumulated depreciation

 

 

533

 

 

 

833

 

TOTAL ASSETS

 

$ 533

 

 

$ 6,139

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS’ DEFICIT

 

 

 

 

 

 

 

 

Current Liabilities

 

 

 

 

 

 

 

 

Accounts payable and accrued liabilities

 

$ 2,528

 

 

$ 100

 

Loans from related parties

 

 

20,857

 

 

 

13,667

 

TOTAL LIABILITIES

 

 

23,385

 

 

 

13,767

 

 

 

 

 

 

 

 

 

 

STOCKHOLDERS’ DEFICIT

 

 

 

 

 

 

 

 

Common stock, par value $0.001 per share, 75,000,000 shares authorized, 4,290,000 shares issued and outstanding

 

 

4,290

 

 

 

4,290

 

Additional paid-in capital

 

 

24,795

 

 

 

24,795

 

Accumulated deficit

 

 

(51,937 )

 

 

(36,713 )

Total stockholders’ deficit

 

 

(22,852 )

 

 

(7,628 )

TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT

 

$ 533

 

 

$ 6,139

 

 

The accompanying notes are an integral part of these unaudited interim financial statements.

 

 
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ANTILIA GROUP, CORP.

Statements of Operations

(Unaudited)

 

 

 

For the Three Months Ended

 

 

For the Nine Months Ended

 

 

 

October31,

 

 

October 31,

 

 

October31,

 

 

October 31,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

REVENUES

 

$ -

 

 

$ 6,300

 

 

$ 4,820

 

 

$ 21,300

 

COST OF GOODS SOLD

 

 

-

 

 

 

5,800

 

 

 

4,320

 

 

 

19,400

 

GROSS PROFIT

 

 

-

 

 

 

500

 

 

 

500

 

 

 

1,900

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OPERATING EXPENSES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

General and administrative

 

$ 6,086

 

 

$ 9,693

 

 

$ 15,724

 

 

$ 23,747

 

Total Operating Expenses

 

 

6,086

 

 

 

9,693

 

 

 

15,724

 

 

 

23,747

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LOSS FROM OPERATIONS

 

 

(6,086 )

 

 

(9,193 )

 

 

(15,224 )

 

 

(21,847 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision for Income Taxes

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NET LOSS

 

$ (6,086 )

 

$ (9,193 )

 

$ (15,224 )

 

$ (21,847 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss per Common Share - Basic and Diluted

 

$ (0.00 )

 

$ (0.00 )

 

$ (0.00 )

 

 

(0.01 )

Weighted Average Common Shares Outstanding - Basic and Diluted

 

 

4,290,000

 

 

 

4,290,000

 

 

 

4,290,000

 

 

 

3,593,864

 

 

The accompanying notes are an integral part of these unaudited interim financial statements.

 

 
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ANTILIA GROUP, CORP.

Statements of Cash Flows

(Unaudited)

 

 

 

For the Nine Months Ended

 

 

 

October 31,

 

 

October 31,

 

 

 

2018

 

 

2017

 

 

 

 

 

 

 

 

CASH FLOWS FROM OPERATING ACTIVITIES

 

 

 

 

 

 

Net loss

 

$ (15,224 )

 

$ (21,847 )

Adjustments to reconcile net loss to net cash used in operating activities:

 

 

 

 

 

 

 

 

Depreciation

 

 

300

 

 

 

267

 

Changes in operating assets and liabilities:

 

 

 

 

 

 

 

 

Inventory

 

 

4,320

 

 

 

(4,320 )

Accounts payable and accrued liabilities

 

 

2,428

 

 

 

100

 

Net cash used in operating activities

 

 

(8,176 )

 

 

(25,800 )

 

 

 

 

 

 

 

 

 

CASH FLOWS FROM INVESTING ACTIVITIES

 

 

 

 

 

 

 

 

Purchase of equipment

 

 

-

 

 

 

(1,200 )

Net cash used in investing activities

 

 

-

 

 

 

(1,200 )

 

 

 

 

 

 

 

 

 

CASH FLOWS FROM FINANCING ACTIVITIES

 

 

 

 

 

 

 

 

Proceeds from sale of common stock

 

 

-

 

 

 

26,100

 

Advances from director

 

 

7,190

 

 

 

4,650

 

Net cash provided by financing activities

 

 

7,190

 

 

 

30,750

 

 

 

 

 

 

 

 

 

 

Net increase (decrease) in cash and cash equivalents

 

 

(986 )

 

 

3,750

 

Cash and cash equivalents - beginning of period

 

 

986

 

 

 

3,169

 

Cash and cash equivalents - end of period

 

$ -

 

 

$ 6,919

 

 

 

 

 

 

 

 

 

 

Supplemental Cash Flow Disclosures

 

 

 

 

 

 

 

 

Cash paid for interest

 

$ -

 

 

$ -

 

Cash paid for income taxes

 

$ -

 

 

$ -

 

 

The accompanying notes are an integral part of these unaudited interim financial statements.

 

 
5
 
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ANTILIA GROUP, CORP.

Notes to the Financial Statements

October 31, 2018

(Unaudited)

 

NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS

 

ANTILIA GROUP, CORP. (“the Company”) was incorporated under the laws of the State of Nevada, U.S. on September 19, 2016. We are a development stage company that plans to engage in the business of selling used automobiles in the USA and Dominican Republic. The Company’s physical address is Calle Duarte, No. 6 Sosua, Dominican Republic.

 

On May 31, 2018, as a result of a private transaction, the control block of voting stock of this company, represented by 2,985,000 shares of common stock, has been transferred from Ramon Perez Conception to Greenwich Holdings Limited, and a change of control of Antilia Group, Corp. (the “Company”) has occurred.

 

NOTE 2 – GOING CONCERN

 

The financial statements have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company has incurred a loss since Inception (September 19, 2016) resulting in an accumulated deficit of $51,937 as of October 31, 2018, and further losses are anticipated in the development of its business. Accordingly, there is substantial doubt about the Company’s ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with existing cash on hand and loans from directors and/or private placement of common stock.

 

NOTE 3 – SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES

 

Basis of presentation

 

The accompanying unaudited interim financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the nine months ended October 31, 2018 are not necessarily indicative of the results that may be expected for the year ending January 31, 2019. Notes to the unaudited interim financial statements that would substantially duplicate the disclosures contained in the audited financial statements for fiscal year 2018 have been omitted. This report should be read in conjunction with the audited financial statements and the footnotes thereto for the fiscal year ended January 31, 2018 included in the Company’s Form 10-K as filed with the Securities and Exchange Commission on April 16, 2018.

 

Cash and Cash Equivalents

 

All of the cash is maintained with the Bank of America, one of the major financial institutions in the United States. Deposits with this bank may exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed on demand and, therefore, bear minimal risk. The Company considers all highly liquid investments with the original maturities of three months or less at the date of acquisition to be cash equivalents.

 

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.

 

 
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Inventories

 

Inventories are stated at the lower of cost or market. Cost is principally determined using the first-in, first out (“FIFO”) method.

 

During the nine months ended October 31, 2018, the Company sold an automobile on consignment basis with a book value of $4,320 for $4,820.

 

Depreciation, Amortization, and Capitalization

 

Property and equipment are stated at cost. Depreciation is computed on the straight-line method. The depreciation and amortization methods are designed to amortize the cost of the assets over their estimated useful lives, in years, of the respective assets as follows:

 

Computer Software 3 Years

 

 

 

October 31,

2018

 

 

January 31,

2018

 

Computer Software

 

$ 1,200

 

 

$ 1,200

 

Less: accumulated amortization

 

 

(667 )

 

 

(367 )

Net property and equipment

 

$ 533

 

 

$ 833

 

 

During the nine months ended October 31, 2018 and October 31, 2017, the depreciation cost was $300 and $267, respectively.

 

Related Parties

 

The Company follows ASC 850, “Related Party Disclosures,” for the identification of related parties and disclosure of related party transactions (see Note 4).

 

Revenue Recognition

 

The Company recognizes revenue from the sale of equipment in accordance with ASC 606,”Revenue Recognition” following the five steps procedure:

 

Step 1: Identify the contract(s) with customers

Step 2: Identify the performance obligations in the contract

Step 3: Determine the transaction price

Step 4: Allocate the transaction price to performance obligations

Step 5: Recognize revenue when the entity satisfies a performance obligation

 

The Company recognizes revenue when it satisfies its obligation by transferring control of the good to the customer. A performance obligation is satisfied over time if one of the following criteria are met:

 

 

a.

the customer simultaneously receives and consumes the benefits as the entity performs;

 

b.

the entity’s performance creates or enhances an asset that the customer controls as the asset is created or enhanced; or

 

c.

the entity’s performance does not create an asset with an alternative use to the entity, and the entity has an enforceable right to payment for performance completed to date.

 

During the nine months ended October 31, 2018, the Company sold an automobile on consignment basis with a book value of $4,320 for $4,820.

 

Currencies

 

The Company’s reporting and functional currencies are both the U.S. dollar. Foreign currency transaction gains and losses are included in other income (expense).

 

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.

 

 
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NOTE 4 – ADVANCE 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 officers, directors, or shareholders. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances are considered temporary in nature and have not been formalized by a promissory note.

 

Since September 19, 2016 (Inception) through October 31, 2018, the Company’s sole officer and director loaned the Company $20,857 to pay for incorporation costs and operating expenses. As of October 31, 2018, the amount outstanding was $20,857. The loan is non-interest bearing, due upon demand and unsecured.

 

NOTE 5 – COMMON STOCK

 

The Company has 75,000,000 authorized common shares at $0.001 par value.

 

Year Ended January 31, 2018

 

For the year ended January 31, 2018, the Company issued 1,305,000 shares of its common stock at $0.02 per share for total proceeds of $26,100.

 

As of October 31, 2018 and January 31, 2018, the issued and outstanding common stock are 4,290,000 and 4,290,000, respectively.

 

NOTE 6 – SUBSEQUENT EVENTS

 

Management has evaluated subsequent events through the date these consolidated financial statements were available to be issued. Based on our evaluation no material events have occurred that require disclosure, other than stated below.

 

 
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Item 2. Management’s Discussion and Analysis of Financial Condition or Plan of Operation

 

FORWARD-LOOKING STATEMENTS

 

This quarterly report contains forward-looking statements. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.

 

Our consolidated unaudited financial statements are stated in United States Dollars (US$) and are prepared in accordance with United States Generally Accepted Accounting Principles. The following discussion should be read in conjunction with our financial statements and the related notes that appear elsewhere in this quarterly 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 quarterly report.

 

Unless otherwise specified in this quarterly report, all dollar amounts are expressed in United States dollars and all references to “common stock” refer to shares of our common stock.

 

As used in this quarterly report, the terms “we”, “us”, “our company”, mean Antilia Group, Corp., a Nevada corporation, unless otherwise indicated.

 

Corporate Overview

 

We were incorporated in the State of Nevada on September 19, 2016. We are in the business of selling used automobiles that we purchase in the United States to customers in the USA and Dominican Republic. We purchase our automobiles primarily at used car stores, private sellers, dealer-auctions and sell them to private buyers or other car dealers in the USA and Dominican Republic. We are developing a website that will display a variety of used automobiles and their prices, and will advertise our services and fees. Our principal office address is located at Calle Duarte, No. 6, Sosua, Dominican Republic. Our telephone number is 829-217-2262.

 

We are in the business of selling used automobiles that we purchase in the United States to customers in the USA and Dominican Republic. Our service includes checking the condition of the automobiles, shipping and handling and custom clearing if needed. Our goal is to maintain a 60 day turn around period for all inventory. We will display the automobiles that we own on our website. Our customers will be able to select an automobile on our website according to their budget and preferences. Our customers will also be able to order vehicles which are not displayed on our website by specifying the make, model and year. When we do not have the vehicles that our client wants, we search for it in automobile auctions and through a network of other car dealers. If our clients want to choose automobiles individually throughout the auction or other options, we consult them for 5-10% interest.

 

We do not have any subsidiaries.

 

We have not ever declared bankruptcy, been in receivership, or involved in any kind of legal proceeding.

 

 
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Results of Operations

 

Three months ended October 31, 2018 compared to three months ended October 31, 2017

 

 

 

Three Months

 

 

Three Months

 

 

 

 

 

Ended

 

 

Ended

 

 

 

 

 

October 31,

 

 

October 31,

 

 

 

 

 

2018

 

 

2017

 

 

Changes

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$ -

 

 

$ 6,300

 

 

$ (6,300 )

Cost of Goods Sold

 

$ -

 

 

$ 5,800

 

 

$ (5,800 )

Operating Expenses

 

$ 6,086

 

 

$ 9,693

 

 

$ (3,607 )

Net Loss

 

$ 6,086

 

 

$ 9,193

 

 

$ (3,107 )

 

Revenue

 

During the three months ended October 31, 2018 and October 31 2017, the Company had not generated any revenue.

 

Operating Expenses

 

During the three month ended October 31, 2018, we incurred operating expenses of $6,086 compared to $9,693 for the three months ended October 31, 2017. General and administrative and professional fee expenses incurred generally related to corporate overhead, financial and administrative contracted services, such as legal and accounting, developmental costs, and marketing expenses.

 

Net Loss

 

Our net loss for the three month ended October 31, 2018 was $6,086 compared to $9,693 for the three months ended October 31, 2017.

 

Nine months ended October 31, 2018 compared to nine months ended October 31, 2017

 

 

 

Nine Months

 

 

Nine Months

 

 

 

 

 

 

Ended

 

 

Ended

 

 

 

 

 

 

October 31,

 

 

October 31,

 

 

 

 

 

 

2018

 

 

2017

 

 

Changes

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$ 4,820

 

 

$ 21,300

 

 

$ (16,480 )

Cost of Goods Sold

 

$ 4,320

 

 

$ 19,400

 

 

$ (15,080 )

Operating Expenses

 

$ 15,724

 

 

$ 23,747

 

 

$ (8,023 )

Net Loss

 

$ 15,224

 

 

$ 21,847

 

 

$ (6,623 )

 

Revenue

 

During the nine months ended October 31, 2018, the Company has generated $4,820 in revenue and the cost of goods sold was $4,320 from the consignment sales of used automobile. During the nine months ended October 31, 2017, the Company generated $21,300 in revenue and the cost of goods sold was $19,400.

 

Operating Expenses

 

During the nine month ended October 31, 2018, we incurred operating expenses of $15,724 compared to $23,747 for the nine months ended October 31, 2017. General and administrative and professional fee expenses incurred generally related to corporate overhead, financial and administrative contracted services, such as legal and accounting, developmental costs, and marketing expenses.

 

Net Loss

 

Our net loss for the nine month ended October 31, 2018 was $15,224 compared to $21,847 for the nine months ended October 31, 2017.

 

 
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LIQUIDITY AND CAPITAL RESOURCES

 

 

 

As of

 

 

As of

 

 

 

 

 

 

October 31,

 

 

January 31,

 

 

 

 

 

 

2018

 

 

2018

 

 

Changes

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$ -

 

 

$ 986

 

 

$ (986 )

Current Assets

 

$ -

 

 

$ 986

 

 

$ (986 )

Current Liabilities

 

$ 23,385

 

 

$ 13,767

 

 

$ 9,618

 

Working Capital Deficiency

 

$ (23,385 )

 

$ (12,781 )

 

$ (10,604 )

 

As at October 31, 2018, our total assets were $533 compared to $6,139 in total assets at January 31, 2018. As at October 31, 2018, total assets comprised of $533 in net fixed assets. As at October 31, 2018, our current liabilities comprised of accounts payable and accrued liabilities of $2,528 and related party loans of $20,857 compared to accounts payable and accrued liabilities of $100 and related party loans of $13,667 as of January 31, 2018.

 

Stockholders’ deficit was $22,852 as of October 31, 2018 compared to $7,628 as of January 31, 2018.

 

 

 

Nine Months

 

 

Nine Months

 

 

 

 

 

Ended

 

 

Ended

 

 

 

 

 

October 31,

 

 

October 31,

 

 

 

 

 

2018

 

 

2017

 

 

Changes

 

 

 

 

 

 

 

 

 

 

 

Net cash used in operating activities

 

$ (8,176 )

 

$ (25,800 )

 

$ 17,624

 

Net cash used in investing activities

 

 

-

 

 

 

(1,200 )

 

 

1,200

 

Net cash provided by financing activities

 

$ 7,190

 

 

$ 30,750

 

 

$ (23,560 )

Net increase (decrease) in cash and cash equivalents

 

$ (986 )

 

$ 3,750

 

 

$ (4,736 )

 

Cash Flows from Operating Activities

 

For the nine months ended October 31, 2018, net cash flows used in operating activities was $8,176 , consisting of net loss of $15,224 amortization expense of $300, inventory of $4,320 and accounts payable of $2,428.

 

For the nine months ended October 31, 2017, net cash flows used in operating activities was $25,800 , consisting of net loss of $21,847, amortization expense of $267, inventory of $4,320 and accounts payable of $100.

 

Cash Flows from Investing Activities

 

For the nine months ended October 31, 2018, we had not use any funds in investing activities.

 

During the nine months ended October 31, 2017, we have used $1,200 in investing activities to purchase computer equipment.

 

Cash Flows from Financing Activities

 

Cash flows provided by financing activities during the nine months ended October 31, 2018 was $7,190 from director’s advancement.

 

Cash flows provided by financing activities during the nine months ended October 31, 2017 was $30,750, consisting of proceeds from issuance of common stock of $26,100 and advancement from the director of $4,650.

 

 
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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 twelve 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.

 

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.

 

Going Concern

 

The independent auditors’ report accompanying our January 31, 2018 financial statements contained an explanatory paragraph expressing substantial doubt about our ability to continue as a 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

 

As a “smaller reporting company”, we are not required to provide the information required by this Item.

 

Item 4. Controls and Procedures

 

Disclosure Controls and Procedures

 

Our disclosure controls and procedures are designed to ensure that information required to be disclosed in reports that we file or submit under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the Securities and Exchange Commission. Our principal executive officer and principal financial and accounting officer have reviewed the effectiveness of our “disclosure controls and procedures” (as defined in the Securities Exchange Act of 1934 Rules 13(a)-15(e) and 15(d)-15(e)) within the end of the period covered by this Quarterly Report on Form 10-Q and have concluded that the disclosure controls and procedures are effective to ensure that material information relating to the Company is recorded, processed, summarized, and reported in a timely manner.

 

Changes in Internal Controls over Financial Reporting

 

There have been no changes in the Company’s internal control over financial reporting during the last quarterly period covered by this report that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

 

 
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PART II - OTHER INFORMATION

 

Item 1. Legal Proceedings

 

From time to time, we may become involved in litigation relating to claims arising out of its operations in the normal course of business. We are not involved in any pending legal proceeding or litigation and, to the best of our knowledge, no governmental authority is contemplating any proceeding to which we area party or to which any of our properties is subject, which would reasonably be likely to have a material adverse effect on us.

 

Item 1A. Risk Factors

 

As a “smaller reporting company”, we are not required to provide the information required by this Item.

 

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

 

None.

 

Item 3. Defaults Upon Senior Securities

 

None.

 

Item 4. Mine Safety Disclosures

 

Not Applicable.

 

Item 5. Other Information

 

None.

 

 
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Item 6. Exhibits

 

The following exhibits are included as part of this report:

 

Exhibit

Number

 

Description

(31)

 

Rule 13a-14(a)/15d-14(a) Certification

31.1

 

Section 302 Certification under the Sarbanes-Oxley Act of 2002 of the Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer

(32)

 

Section 1350 Certification

32.1

 

Section 906 Certification under the Sarbanes-Oxley Act of 2002 of the Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer

101

 

Interactive Data Files

101.INS*

 

XBRL Instance Document

101.SCH*

 

XBRL Taxonomy Extension Schema Document

101.CAL*

 

XBRL Taxonomy Extension Calculation Linkbase Document

101.DEF*

 

XBRL Taxonomy Extension Definition Linkbase Document

101.LAB*

 

XBRL Taxonomy Extension Label Linkbase Document

101.PRE*

 

XBRL Taxonomy Extension Presentation Linkbase Document

____________

* XBRL Information is furnished and not filed or a part of a registration statement or prospectus for purposes of sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

 

 
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SIGNATURES

 

In accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

ANTILIA GROUP, CORP.

 

(Registrant)

 

Dated: December 3, 2018

 

/s/ Robert Qin Peng

 

Robert Qin Peng

 

President, Treasurer, Secretary and Director

 

(Principal Executive Officer, Principal Financial

Officer and Principal Accounting Officer)

 

 

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