FRITZY TECH: MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL POSITION AND OPERATING RESULTS (Form 10-K)

The following discussion should be read in conjunction with our consolidated financial statements, including the accompanying notes, appearing elsewhere in this annual report. The following discussion contains forward-looking statements which 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 annual report. Our audited consolidated financial statements are presented in
Results of Operations
The following summary of our operations should be read in conjunction with our audited consolidated financial statements for the year ended.
Year ended
Our operating results for the year ended
Year Ended June 30, June 30, 2021 2020 Change % Operating expenses$ (29,689 ) $ (25,037,849 ) $ 25,008,160 (100%) Other expenses$ (60,049 ) $ (96,660 ) $ 36,611 (38%) Net loss$ (89,738 ) $ (25,134,509 ) $ 25,044,771 (100%)
No income was generated for the year ended
The net loss was
per share to the Chief Executive Officer of the Company as compensation for the year 2019.
8 Tabble of Contents Liquidity and Capital Working Capital June 30, June 30, 2021 2020 Change % Current Assets $ - $ - $ - 0 %
Current liabilities
Year EndedJune 30 ,June 30, 2021 2020
Cash flow used in operating activities
Cash flow generated by financing activities 35,483 32,205 Net variations in cash during the period
$ - $ -
The financial statements included in this annual report have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities in the normal course of business. As the financial statements of
and
Cash flow from operating activities
Net cash used in our operating activities for the year ended
totaled
For the year ended
For the year ended
Cash flow from investing activities
For the year ended
Cash flow from financing activities
For the year ended
For the year ended
9 Tabble of Contents
Our existence depends on the ability of management to develop profitable operations. Management devotes almost all of its efforts to developing our business and raising capital and there can be no assurance that our efforts will be successful. No assurance can be given that management’s actions will result in profitable operations or the resolution of our liquidity issues. The financial statements do not include any adjustments that could result if we are unable to continue to operate. In order to improve our liquidity, management is actively seeking additional equity financing through discussions with investment bankers and private investors. There can be no assurance that we will be successful in our efforts to obtain additional equity financing.
Liquidity and capital resources
Our cash balance at
Contractual Obligations
As a “small reporting company”, we are not required to provide tabular disclosure obligations.
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, liquidity, capital expenditures or capital resources that are important to shareholders.
Critical Accounting Policies
The preparation of financial statements in accordance with generally accepted accounting principles in
Recent accounting positions
Management has taken into account all recent published accounting positions. Our management believes that these recent statements will not have a material effect on the financial statements of our company.
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