Attached files
EXHIBIT-1
ANNUAL REPORT TO SECURITY HOLDERS
SEE EXHIBIT-1
Xgains4keeps Inc(Ltd) Income Statement
For the Years Ending [June 30, 2020 and June 30, 2019]
$ $
Revenue 2020 2019
Sales revenue
(Less sales returns
and allowances)
Service revenue 60,067 734
Interest revenue
Other revenue
Total Revenues 60,067 734
Expenses
Advertising
Bad debt
Commissions 209
Cost of goods sold
Depreciation
Employee/Users
benefits 59,243
Furniture and
equipment
Insurance
Interest expense
Maintenance
and repairs
Office supplies
Payroll taxes
Rent 55
Research and
development
Salaries and wages 565
Software
Travel
Utilities
Web hosting
and domains 488 384
Other 157 358
Total Expenses 60,717 742
Net Income Before
Taxes (650) (8)
Income tax expense
Income from Continuing
Operations (650) (8)
Below-the-Line Items
Income from discontinued operations
Effect of accounting changes
Extraordinary items
Net Income (650) (8)
Xgains4keeps Inc/Ltd Balance Sheet
Date: June 30th 2020
Assets 2020($) 2019($)
Current Assets
Cash (650) (8)
Accounts receivable
Inventory
Prepaid expenses
Short-term investments
Total current assets (650) (8)
Fixed (Long-Term) Assets
Long-term investments
Property, plant, and equipment
(Less accumulated depreciation)
Intangible assets 1,513,500,000 13,500,000
Total fixed assets 1,513,500,000 13,500,000
Other Assets
Deferred income tax
Other
Total Other Assets $ - $
Total Assets 1,513,499,350 13,499,992
Liabilities and Owner's Equity
Current Liabilities
Accounts payable
Short-term loans
Income taxes payable 11,160 10,160
Accrued salaries and wages 500,000 380,000
Unearned revenue
Current portion of long-term debt
Total current liabilities 511,160 390,160
Long-Term Liabilities
Long-term debt
Deferred income tax
Other
Total long-term liabilities $ $
Owner's Equity
Owner's investment 908 734
Retained earnings
Other
Total owner's equity 908 734
Total Liabilities and
Owner's Equity 512,068 390,894
Common Financial Ratios
Debt Ratio (Total Liabilities
/ Total Assets) 0.00 0.03
Current Ratio (Current Assets
/ Current Liabilities) 0.00 0.00
Working Capital (Current Assets -
Current Liabilities) (511,810) (390,168)
Assets-to-Equity Ratio
(Total Assets / Owner's Equity) 1,666,162.49 18,390.86
Debt-to-Equity Ratio
(Total Liabilities
/ Owner's Equity) 562.72 531.51
Xgains4keeps Inc/Ltd
Cash Flow Statement
For the Year Ending 30/06/2020 ($)
Cash at Beginning of Year -8
Operations
Cash receipts from
Customers 2,406
Other Operations
Cash paid for
Inventory purchases
General operating and
administrative expenses 908
Wage expenses 565
Interest
Income taxes
Net Cash Flow from Operations 3,879
Investing Activities
Cash receipts from
Sale of property and equipment
Collection of principal on loans
Sale of investment securities
Cash paid for
Purchase of property and equipment
Making loans to other entities
Purchase of investment securities
Net Cash Flow from Investing Activities 0
Financing Activities
Cash receipts from
Issuance of stock
Borrowing 57,661
Cash paid for
Repurchase of stock
(treasury stock)
Repayment of loans 59,243
Dividends
Net Cash Flow from Financing
Activities 116,904
Net Increase in Cash 120,784
Cash at End of Year 120,76