Alixo-Yolloo Corp. Files Q1 2024 10-Q

TL;DR

ALIXO-YOLLOO CORP 10-Q FILED: Q1 2024 financials out, check common stock & retained earnings.

AI Summary

Alixo-Yolloo Corp. filed its 10-Q for the period ending May 31, 2024, reporting on its financial performance. The company, incorporated in Nevada, operates in the computer processing and data preparation sector. Key financial data for the periods ending May 31, 2024, and May 31, 2023, are presented, including details on common stock, additional paid-in capital, and retained earnings.

Why It Matters

This filing provides investors with a quarterly update on Alixo-Yolloo Corp.'s financial health and operational performance, crucial for investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags or significant new risks disclosed.

Key Numbers

• May 31, 2024 — Reporting Period End (Latest financial data available)
• May 31, 2023 — Prior Year Period End (For comparative analysis)

Key Players & Entities

• ALIXO-YOLLOO CORP. (company) — Filer of the 10-Q
• 20240531 (date) — End of the reporting period
• 20240712 (date) — Filing date
• NV (location) — State of incorporation
• 7374 (industry_code) — Standard Industrial Classification for Services-Computer Processing & Data Preparation

FAQ

Key Financial Figures

• $12,312 — since inception and incurred a loss of $12,312 and $1,749 for the three months ended M
• $1,749 — tion and incurred a loss of $12,312 and $1,749 for the three months ended May 31, 2024
• $0.001 — 5,000,000 shares of its common stock at $0.001 per share for total proceeds of $5,000
• $5,000 — $0.001 per share for total proceeds of $5,000 to a related party (see NOTE 5). Durin
• $500 — es of common stock for cash proceeds of $500 at $0.02 per share. During December 20
• $0.02 — mmon stock for cash proceeds of $500 at $0.02 per share. During December 2023 the Co
• $11,100 — es of common stock for cash proceeds of $11,100 at $0.02 per share. During January 202
• $3,700 — es of common stock for cash proceeds of $3,700 at $0.02 per share. During February 20
• $18,600 — es of common stock for cash proceeds of $18,600 at $0.02 per share. As of May 31, 2024
• $20,648 — Company's operating expenses, of which $20,648 and $150 was advanced during the three
• $150 — perating expenses, of which $20,648 and $150 was advanced during the three months en
• $17,820 — e Company acquired application code for $17,820 and database for $17,000. During the ye
• $17,000 — ation code for $17,820 and database for $17,000. During the year ended February 29, 202
• $7,000 — italized website developments costs for $7,000. In February 2024, the Company sold its
• $15,000 — 2024, the Company sold its database for $15,000. During the three months ended May 31,

Filing Documents

• alixo_10q31may2024.htm (10-Q) — 233KB
• ex31.htm (EX-31.1) — 7KB
• ex32.htm (EX-32.1) — 5KB
• 0001977837-24-000014.txt ( ) — 1410KB
• none-20240531_cal.xml (EX-101.CAL) — 25KB
• none-20240531_def.xml (EX-101.DEF) — 14KB
• none-20240531_lab.xml (EX-101.LAB) — 102KB
• none-20240531_pre.xml (EX-101.PRE) — 78KB
• none-20240531.xsd (EX-101.SCH) — 13KB
• alixo_10q31may2024_htm.xml (XML) — 111KB

Business

Business Center Sunkar, Building 47B , Aktau 130002 Kazakhstan Tel. +1- 252 - 34-66-180 Email: generaloffice@alixo-yolloo.com (Address and telephone number of principal executive offices) Securities registered under Section 12(b) of the Exchange Act: Title of each class Trading Symbol Name of each exchange on which registered Common Stock N/A N/A Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ] Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes [X] No [ ] Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer", "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act: Large accelerated filer [ ] Accelerated filer [ ] Non-accelerated Filer [X] Smaller reporting company [X] (Do not check if a smaller reporting company) Emerging growth company [X] If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. [ ] Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]

Financial Statements (Unaudited)

Financial Statements (Unaudited) 5 Condensed Balance Sheets as of May 31, 2024 (Unaudited) and February 29, 2024 6 Condensed Statement of Operations for the three months ended May 31, 2024 and 2023 (Unaudited) 7 8 Condensed Statement of Cash Flows for the three months ended May 31, 2024 and 2023 (Unaudited) 9 Notes to the Condensed Financial Statements (Unaudited) 10 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 18 Item 4.

Controls and Procedures

Controls and Procedures 18 PART II OTHER INFORMATION: Item 1.

Legal Proceedings

Legal Proceedings 18 Item 1A

Risk Factors

Risk Factors 18 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 18 Item 3. Defaults Upon Senior Securities 19 Item 4. Mine Safety Disclosures 19 Item 5. Other Information 19 Item 6. Exhibits 19

Signatures

Signatures 19 3 SPECIAL NOTE REGARDING FORWARD—LOOKING STATEMENTS or current facts are "forward-looking statements" made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 (the "Act") and Section 21E of the Securities Exchange Act of 1934. These statements often can be identified by the use of terms such as "may", "will", "expect", "believe", "anticipate", "estimate", "approximate" or "continue", or the negative thereof. We intend that such forward-looking in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events. Financial information contained in this quarterly report and in our unaudited interim financial statements is stated in United States dollars and are prepared in accordance with United 4

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements The accompanying interim financial statements of Alixo-Yolloo Corporation ("the Company", "we", "us" or our"), have been prepared without audit pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with United States generally accepted principles have been condensed or omitted pursuant to such rules and regulations. The interim financial statements are condensed and should be read in conjunction with the Company's latest annual financial statements. In the opinion of management, the financial statements contain all material adjustments, consisting only of normal adjustments considered necessary to present fairly the financial condition, results of operations, and cash flows of the Company for the interim periods presented. 5 ALIXO-YOLLO CORPORATION BALANCE SHEETS May 31, 2024 (Unaudited) February 29, 2024 (Audited) ASSETS Current Assets Cash $ 192 $ 9,073 Other Receivable - 15,000 Prepaid Expenses 33,100 60,800 Total Current Assets 33,292 84,873 Intangible Assets, Net 48,169 23,183 TOTAL ASSETS $ 81,461 $ 108,056 LIABILITIES & STOCKHOLDERS' EQUITY Liabilities Current Liabilities Accounts Payable $ 2,100 $ 43,648 Deferred Revenue 6,617 - Related Party Loan 56,998 36,350 Total Current Liabilities 65,715 79,998 Stockholders' Equity Common Stock, $ 0.001 par value, 75,000,000 shares authorized, 6,695,000 and 6,695,000 shares issued and outstanding as of May 31, 2024 and February 29, 2024, respectively 6,695 6,695 Additional Paid-In Capital 32,205 32,205 Accumulated Deficit ( 23,154 ) ( 10,842 ) Total Stockholders' Equity 15,746 28,058 TOTAL LIABILITIES & STOCKHOLDERS' EQUITY $ 81,461 $ 108,056 The accompanying notes are an integral part of these unaudited financial statements. 6 ALIXO-YOLLO CO

BUSINESS

BUSINESS Alixo-Yolloo Corporation ("the Company") was incorporated under the laws of the State of Nevada, U.S. on January 17, 2019 (Inception). Alixo-Yolloo Corporation developed a mobile application 'Alixo'. A mobile application designed to help users identify music tracks based on short samples recorded via their device's microphone. Alixo-Yolloo Corporation offers an API rental service for music recognition to other applications, utilizing neural network databases for efficient identification of audio streams. NOTE 2 - GOING CONCERN The financial statements have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company has generated limited revenues since inception and incurred a loss of $12,312 and $1,749 for the three months ended May 31, 2024, and 2023, respectively. The Company has incurred losses since inception resulting in an accumulated deficit of $ 23,154 as of May 31, 2024 and further losses are anticipated in the development of its business. Accordingly, there is substantial doubt about the Company's ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with existing cash on hand and loans from directors and/or private placement of common stock. NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. The Company has adopted a February 28 fiscal year end. The results for t

Legal Proceedings

Legal Proceedings As of now, we are not involved in any legal proceedings, and we have not received any information about any upcoming legal actions against us. 16 RESULTS OF OPERATIONS Three months ended May 31, 2024, compared to May 31, 2023: Revenues For the three months ended May 31, 2024 and 2023, the Company generated total revenue of $3,972 having sold the Application Programming Interface (API) packages provided on its website and $7,933, respectively. Operating expenses Total expenses for the three months ended May 31, 2024 were $16,284 ($9,682 for the three months ended May 31, 2023) consisting of general and administrative expenses. Expenses increased in the three months ended May 31, 2024 primarily due to the professional fees and website development expenses. Net Losses The company recorded a net loss of $12,312 for the three months ended May 31, 2024, and $1,749 for the three months ended May 31, 2023. Liquidity and Capital Resources As of May 31, 2024 we have cash reserves of approximately $192 and our liabilities are $65,715, comprising $2,100 accounts payable, $6,617 deferred revenue and $56,998 owed to Rassul Sadakbayev, our director. The available capital reserves of the Company are not sufficient for the Company to remain operational. As of February 29, 2024 we have cash reserves of approximately $9,073 and our liabilities are $ 79,998, comprising $ 43,648 accounts payable and $36,350 owed to Rassul Sadakbayev, our director. Shareholders' equity has decreased from $28,058 as of February 29, 2024 to $15,746 as of May 31, 2024. The Company has accumulated a deficit of $23,154 as of May 31, 2024, compared to $10,842 as of February 29, 2024, and further losses are anticipated in the development of its business. Accordingly, there is substantial doubt about the Company's ability to continue as a going concern. Net cash used in operating activities for the three months ended May 31, 2024, was $4,129 ($189 – for the three months

View Full Filing

View this 10-Q filing on SEC EDGAR