Results of Operations Introduction
The financial statements appearing elsewhere in this prospectus have been prepared on the assumption that the Company will continue to operate on a going concern basis. The company was formed recently and has not created enough operations or revenue to support the company. These circumstances cast significant doubt about the Company’s ability to continue as a going concern.
The following table provides selected financial data about our company in
Balance Sheet Data As of As of December 31, December 31, 2021 2020 Cash
$ 405,774 $ 160,709Total Assets $ 428,607 $ 317,870Total Liabilities $ 287,281 $ 1,186,919Total Stockholders' Deficit $ 141,326 $ (869,049 )
So far, the company has relied on debt and equity acquired in private offerings to fund operations and no other source of capital has been identified or sought. If we are faced with a shortage of operating capital, we may face the necessity of limiting our R&D and marketing activities.
The year is over
Revenues. We have had no returns during the outgoing years
Research and development expenditures. Research and development expenses during the year ended
Compensation expenses. We had a compensation account
During the year ending 2021 and 2020, respectively. This includes management employee compensation and stock-based compensation expense related to the company’s 2016 inventory incentive plan.
General and administrative expenses. we incurred
Other income (expenses). We won
net loss. We incurred a net loss of
Liquidity and capital resources
The company expects to request significant research and development funds, to further develop its initial proposed medical robotic system. The Company plans to meet its operating cash flow requirements by raising additional funds from the sale of our securities and, if possible, on favorable terms, by entering into development partnerships to assist the Company in its technology development activities.
during the period of incorporation (
for each share.
In addition to the above, from
Although we have been successful in raising funds to fund our operations from the start and believe we will be successful in obtaining the funding needed to fund our operations in the future, we do not have any committed funding sources and no assurances that we will be able to secure additional funding. The accompanying financial statements have been prepared on the assumption that the Company will continue to operate on a going concern basis; However, if the above efforts are not successful, it will raise a fundamental doubt about the company’s ability to continue as a going concern. If we can’t get funding, we may have to further downsize our operations or consider other strategic alternatives. Even if we succeed in raising the additional funding, there is no guarantee as to the terms of any additional investment and any such investment or other strategic alternative is likely to significantly impair our existing shareholders.
Critical Accounting Policies Use of Estimates
Preparing financial statements in accordance with generally accepted accounting principles
The company calculates income taxes in accordance with ASC 740, Accounting for Income Taxes, as described in ASC 740-10, Accounting for Uncertainty in Income Taxes. Under this method, deferred income taxes are determined on the basis of the estimated future tax effects of the differences between the financial statements and the tax basis of assets and liabilities in accordance with the provisions of applicable tax laws. Deferred income tax provisions and benefits are based on changes in assets or liabilities from year to year. In making a provision for deferred tax, a company takes into account tax regulations in the countries in which the company operates, estimates of future taxable income, and available tax planning strategies. If tax regulations, operating results, or the ability to implement tax planning strategies differ, adjustments may be required to the carrying amount of deferred tax assets and liabilities. Valuation provisions relating to deferred tax assets are recorded based on the “more likely” criteria in ASC 740.
ASC 740-10 requires that a company recognize the benefits of a tax position financial statement only after determining that the relevant tax authority is likely to maintain the position after an audit. For tax centers that meet the “most likely or not” threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent probability of realizing on final settlement with the relevant IRS.
Balance Sheet Arrangements
There are no off-balance sheet arrangements that have or are reasonably likely to have a current or future impact on our financial position, or changes in financial position, revenue or expenses, results of operations, liquidity, capital expenditures or capital resources that are material For us. investors.
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