BOATIM INC. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND OPERATING RESULTS. (form 10-K)
The following discussion should be read in conjunction with our audited financial statements and the accompanying notes included herein. We caution readers against certain forward-looking statements in the following discussion and elsewhere in this report and in any other statements made by, or on our behalf, whether or not in future documents filed with the
Results of Operations
We recorded minimal revenues amounting to
Operating expenses consist of general and administrative expenses of
Other expenses for the year ended
The net loss was
Our total assets at
Our total current liabilities at
We currently expect our operating expenses (i.e. legal and professional fees, IT costs and website and software development and testing, sales, marketing and advertising, and other expenses) to be at. over the next 12 months will be approximately
For the year ended
Liquidity and capital resources
Cash flow / future financing needs
There is little historical financial information about us on which to base an assessment of our performance. We did not truly start our business operations based on the amount of revenue we have been able to generate. We are in the start-up phase of operations. We cannot guarantee that we will be successful in our business operations. Our business is subject to risks inherent in starting a new business enterprise, including limited capital resources and possible cost overruns due to increases in prices and costs of services and products.
We have no assurance that future funding will be available to us on acceptable terms. If financing is not available on satisfactory terms, we may not be able to continue, develop or expand our business. Equity financing could result in further dilution for existing shareholders.
Off-balance sheet provisions
We have no off-balance sheet arrangement that has or is reasonably likely to have a current or future effect on our financial condition, changes in financial condition, income or expenses, results of operations, cash flow, capital expenditures or capital resources that are material to investors, except as may be disclosed in the “Recent Developments” section.
Summary of the main accounting policies:
See note 2 of the financial statements under POINT 8 below.
We are a small reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide information under this section.
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