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UWII > SEC Filings for UWII > Form 10-Q/A on 21-Oct-2013All Recent SEC Filings

Show all filings for UNWALL INTERNATIONAL INC

Form 10-Q/A for UNWALL INTERNATIONAL INC


21-Oct-2013

Quarterly Report


ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

This section of this report includes a number of forward- looking statements that reflect our current views with respect to future events and financial performance. Forward-looking statements are often identified by words like:
believe, expect, estimate, anticipate, intend, project and similar expressions, or words which, by their nature, refer to future events. You should not place undue certainty on these forward-looking statements, which apply only as of the date of this report. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or our predictions.

Management's Discussion and Analysis of Financial Condition and Results of Operation
From November 30, 2007 until April 2009, our operations were that of distribution of alternative health products. Upon further market research, it was determined that pursuing the marketing and sale of such product was not as profitable as previously projected. Therefore, all efforts relating to the distribution and marketing ceased. In April 2009, we commenced operations relating to the distribution of the certain systems which were intended to convert a variety of waste materials to marketable by-products. This business was discontinued by March 31, 2011.

On October 30, 2012, we completed the incorporation and registration of Unwall Technologies Holdings SDN.BHD, a wholly-owned Malaysian subsidiary ("Unwall Technologies"), which commenced operations to offer mobile apps through its website, www.uwii.org . These business operations were discontinued on or about June 1, 2012 and Unwall International formed a lending division to create a web-based social lending network.

The Company director and key manager have initiated voluntary reductions in their contract salaries until the Company becomes profitable. These salaries have been waived.

We have not been involved in any bankruptcy, receivership or similar proceeding.

The following is an analysis of our revenues and gross profit, details and analysis of components of expenses, and variances comparing the nine months ended August 31, 2013 to the nine months ended August 31, 2012.

                                 Nine Months Ended
                                  August         August
                                31, 2013       31, 2012
Revenues                     $ - Nil -       $- Nil -
Selling and Administrative
Expenses                     $    37,590     $   22,314
Total Comprehensive Loss     $ (132,513)     $ (22,314)

Expenses shown are those of continuing operations only. The comprehensive loss includes expenses of the discontinued subsidiary and foreign currency adjustments.

Expenses
Our expenses for the nine months ended August 31, 2013 and August 31, 2012 were
as follows:
                                   Nine Months Ended
                               August 31,       August 31,
                                     2013             2012

Selling and administrative
Expenses                     $     37,590     $    $22,314


For the nine months ended August 31, 2013, our total operating expenses were $37,590 as compared to $22,314 for the nine months ended August 31, 2012. The change in operating expenses is primarily due to the expenses of the continuing operations of our Unwall International Lending Division, which was not established until October, 2012.

Liquidity and Capital Resource
Working Capital Deficit
                          At              At
                        August          August
                          31,            31,
                         2013            2012
Current Assets        $     -Nil-     $    -Nil-
Current Liabilities   $   279,681     $   39,940
Working Capital       $ (277,508)     $ (39,940)


Cash Flows
                    Nine months ended       Nine months ended
                         August                  August
                           31,                     31,
                          2013                    2012
Net Cash
Consumed by
Operating
Activities of
Continuing
Operations         $          (35,264)     $          (19,660)

Net Cash
Consumed by
Operating
Activities of
Discontinued
Operations         $         (103,314)     $             (-0-)

Net Cash
Provided
(Consumed)
by
Investing
Activities of
Discontinued
Operations         $           (1,301)     $           - Nil -

Net Cash
Provided by
Financing
Activities of
Continuing
Operations         $            36,025     $            19,660

Net Cash
Provided by
Financing
Activities of
Discontinued
Operations         $            93,858     $               -0-

Effect on Cash
Of currency rate
change             $             (173)     $             -Nil-

Net Cash
Consumed $ (10,169) $ -Nil-


Working Capital Needs:
As of August 31, 2013, we had a working capital deficit of $279,681. Over the
next 12 months, we will require approximately $270,000 to sustain our working
capital needs as follows:
Professional fees                   $  20,000
Other                                   5,000
Unwall lending division operating
expense                               245,000
Total                               $ 270,000

Sources of Capital:
We expect to obtain financing through shareholder loans. Shareholder loans will be without stated terms of repayment or interest. We will not consider taking on any long-term or short-term debt from financial institutions in the immediate future. Shareholders loans may be granted from time to time as required to meet current working capital needs. We have no formal agreement that ensures that we will receive such loans. We may exhaust this source of funding at any time.

Cash Flows

Operating Activities:
Net cash consumed by operating activities of continuing operations was $35,264 for the nine months ended August 31, 2013 and $19,660 for the nine months ended August 31, 2012 For discontinued operations, net cash consumed was $103,314 and $-0- for the respective comparable 2013 and 2012 periods.

Investing and Financing Activities:
For the nine months ended August 31, 2013, we invested $1,301 in fixed assets; during the nine month period ended August 31, 2012 we had no investing activities. During the nine months ended August 31, 2013 the Board of Directors approved a sale of 75,000,000 shares of our Common Stock to Great On Technologies Holdings Ltd., our majority shareholder, for $75,000. However, as of August 31, 2013, the shares had not yet been issued and the funds had not been received.

Our cash flows from financing activities during the nine month period ended August 31, 2013 were $36,025 for continuing operations and $93,858 for discontinued operations compared to the nine months ended August 31, 2012 when such cash flows were $19,660 for continuing operations and $-0- for discontinued operations. All such cash flows from financing activities were provided by shareholder loans to fund our working capital needs. Additional capital is required in order to fund our working capital needs and we may receive additional financing through shareholder loans although we have no formal commitments from any shareholders at this time. We will not be considering taking on any long-term or short-term debt from financial institutions in the immediate future. Shareholder and consultant loans may be granted from time to time as required to meet current working capital needs. We have no formal agreement that ensures that we will receive such loans. We may exhaust this source of funding at any time.


Material Commitments
We do not have any material commitments for capital expenditures.

Seasonal Aspects
Management is not currently aware of any seasonal aspects which would affect the results of our operations during any particular time of year. Off Balance Sheet Arrangements
We have no off balance sheet arrangements.

Going Concern

We anticipate that additional funding will be required in the form of equity financing from the sale of our common stock. At this time, we cannot provide investors with any assurance that we will be able to raise sufficient funding from the sale of our common stock or through a loan from our directors to meet our obligations over the next twelve months. We do not have any arrangements in place for any future debt or equity financing.

Recent Accounting Pronouncements

The Company has analyzed the Accounting Standards Updates that were issued after November 30, 2012 and have determined that none are anticipated to have a material impact on the Company's financial position or results of operations.

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