WEB NEWS Comments & Business Outlook
Pan Ocean Container Supplies, Ltd.
Formerly Known as Neveah Enterprises Ltd.
Statements of Operations
For the Three Months Ended
For the Nine Months Ended
January 31,
January 31,
January 31,
January 31,
2016
2015
2016
2015
General and Administration Expenses
Advertising and Marketing Fees
$ -
$ 13,121
$ -
$ 13,121
Filing Fees
$ -
$ -
$ -
$ -
Legal Fees
$ -
$ 8,626
$ -
$ 12,971
Professional Fees
$ 2,690
$ 20,347
$ 5,085
$ 27,414
Bank charges and interest
$ -
$ -
$ -
Operating loss
$ 2,690
$ 42,094
$ 5,085
$ 53,506
Net (loss) for the period
$ (2,690)
$ (42,094)
$ (5,085)
$ (53,506)
Net (loss) per share
Basic and diluted
$ -
$ -
$ -
$ -
Weighted Average Number of Common Shares Outstanding
Basic and diluted
44,000,000
44,000,000
44,000,000
44,000,000
The accompanying notes are an integral part of the consolidated financial statements.
Comments & Business Outlook
Item 1.02 Termination of a Material Definitive Agreement.
On March 1, 2016, Pan Ocean Container Supplies Ltd. (the "Company") sent a notice to Pan Ocean Container Supplies Co., Ltd. (Pan Ocean) terminating, effective immediately, the Material Definitive Agreement, dated July 10, 2014, between the Company and Pan Ocean (the "Agreement"). The Company terminated the Agreement pursuant to Section 9 of the Agreement.
The foregoing description of the Agreement in this report does not purport to be complete and is qualified by reference to the full text of the Agreement. The Agreement is incorporated herein by reference to Exhibit 2.1 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on July 14, 2014.
Comments & Business Outlook
Pan Ocean Container Supplies, Ltd.
Formerly Known as Neveah Enterprises Ltd.
Statements of Operations
For the Three Months Ended
For the Six Months Ended
Oct 31,
Oct 31,
Oct 31,
Oct 31,
2015
2014
2015
2014
General and Administration Expenses
Advertising and Marketing Fees
$ -
$ -
$ -
$ -
Filing Fees
$ -
$ -
$ -
$ -
Legal Fees
$ -
$ -
$ -
$ -
Professional Fees
$ 1,040
$ 6,317
$ 2,390
$ 4,345
Bank charges and interest
$ -
$ -
$ -
$ 7,067
Operating loss
$ 1,040
$ 6,317
$ 2,390
$ 11,412
Net (loss) for the period
$ (1,040)
$ (6,317)
$ (2,390)
$ (11,412)
Net (loss) per share
Basic and diluted
$ -
$ -
$ -
$ -
Weighted Average Number of Common Shares Outstanding
Basic and diluted
44,000,000
44,000,000
44,000,000
44,000,000
Management Discussion and Analysis
We have not generated any revenues for the six months ended October 31, 2015.
We incurred general and administration expenses of $2,390 for the six months ended October 31, 2015, compared to general and administration expenses of $11,412 for the six months ended October 31, 2014. The decrease in expenses is a result of a decrease in professional expenses.
For the six months ended October 31, 2015, we incurred a net loss of $ 2,390.
Comments & Business Outlook
Pan Ocean Container Supplies, Ltd.
Formerly Known as Neveah Enterprises Ltd.
Statements of Operations
For the Three Months Ended
July 31
July 31
2015
2014
General and Administration Expenses
Legal Fees
$ -
$ 4,345
Professional Fees
$ 1,350
$ 750
Operating loss
$ 1,350
$ 5,095
Net (loss) for the period
$ (1,350)
$ (5,095)
Net (loss) per share
Basic and diluted
$ -
$ -
Weighted Average Number of Common Shares Outstanding
Basic and diluted
44,000,000
44,000,000
Comments & Business Outlook
Pan Ocean Container Supplies, Ltd.
Formerly Known as Neveah Enterprises Ltd.
Statements of Operations
For the Year Ended
April 30
April 30
2015
2014
General and Administration Expenses
Press and Public Relations Fees
$ 14,390
$ -
Filing Fees
-
420
Legal Fees
12,971
8,740
Professional Fees
35,229
4,515
Operating loss
$ 62,590
$ 13,675
Net (loss) for the period
$ (62,590)
$ (13,675)
Net (loss) per share
Basic and diluted
$ -
$ -
Weighted Average Number of Common Shares Outstanding
Basic and diluted
44,000,000
44,000,000
Management Discussion and Analysis
Revenues
There were no revenues generated for the fiscal period ended April 30, 2015 and no revenues have been earned by the Company since our inception.
We experienced a net loss of $ 62,590 for the fiscal year ended April 30, 2015 compared to a net loss of $13,675 for the fiscal year ended April 30, 2014.
Deal Flow
Item 1.01: Entry into a Material Definitive Agreement
On July 13, 2015, Pan Ocean Container Supplies Ltd increased their Line of Credit agreement with Fusion Business Group Inc. to $200,000.00 for working capital purposes.
Pan Ocean Container Supplies Ltd. previously had a Line of Credit Promissory Agreement Note with Fusion Business Group Inc for the amount of $100,000.00. The amount was increased to $200,000.00 after negotiations.
Comments & Business Outlook
Pan Ocean Container Supplies, Ltd.
Formerly Known as Neveah Enterprises Ltd.
(A Development Stage Company)
Statements of Operations
From June 15, 2006
For Three months Ended
For Three months Ended
For Nine months Ended
For Nine months Ended
(Inception) to
January 31,
January 31,
January 31,
January 31,
January 31,
2015
2014
2015
2014
2015
General and Administration Expenses
Filing Fees
$ -
$ -
994
Advertising & Marketing
$ 13,121
$ 13,121
13,121
Legal Fees
8,626
12,971
21,711
Professional Fees
20,347
27,414
3,325
93,701
Bank charges and interest
-
-
633
Operating loss
42,094
-
53,506
3,325
130,160
Net (loss) for the period
$ (42,094)
0
$ (53,506)
(3,325)
(130,160)
Net (loss) per share
Basic and diluted
(0.00)
(0.00)
(0.00)
(0.00)
Weighted Average Number of Common Shares Outstanding
Basic and diluted
44,000,000
44,000,000
44,000,000
44,000,000
Management Discussion and Analysis
RESULTS OF OPERATIONS
We have not generated any revenues for the nine months ended January 31, 2015.
We incurred general and administration expenses of $53,506 for the nine months ended January 31, 2015, compared to general and administration expenses of $3,325 for the six months ended January 31, 2014. The increase in expenses is a result of an increase in professional expenses, legal fees and advertising and marketing expenses.
For the nine months ended January 31, 2015, we incurred a net loss of $53,506.
Pump and Dump Watch
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Comments & Business Outlook
Pan Ocean Container Supplies, Ltd.
Formerly Known as Neveah Enterprises Ltd.
(A Development Stage Company)
Statements of Operations
From June 15, 2006
For Three months Ended
For Three months Ended
For Six months Ended
For Six months Ended
(Inception) to
October 31,
October 31,
October 31,
October 31,
October 31,
2014
2013
2014
2013
2014
General and Administration Expenses
Filing Fees
$ -
420
$ -
420
1,414
Legal Fees
4,345
13,085
Professional Fees
5,617
1,550
6,367
1,550
72,234
Bank charges and interest
-
-
633
Operating loss
5,617
1,970
10,712
1,970
87,366
Net (loss) for the period
$ (5,617)
(1,970)
$ (10,712)
(1,970)
(87,366)
Net (loss) per share
Basic and diluted
0.00
0.00
0.00
0.00
Weighted Average Number of Common Shares Outstanding
Basic and diluted
44,000,000
44,000,000
44,000,000
44,000,000
The accompanying notes are an integral part of the consolidated financial statements.
Management Discussion and Analysis
We have not generated any revenues for the six months ended October 31, 2014.
We incurred general and administration expenses of $10,712 for the six months ended October 31, 2014, compared to general and administration expenses of $1,970 for the six months ended October 31, 2013. The increase in expenses is a result of an increase in professional expenses and legal fees.
Comments & Business Outlook
Pan Ocean Container Supplies, Ltd.
Formerly Known as Neveah Enterprises Ltd.
(A Development Stage Company)
Statements of Operations
From June 15, 2006
For 3 months Ended
For 3 months Ended
For the Year Ended
For the Year Ended
(Inception) to
July 31,
July 31,
July 31,
July 31,
July 31,
2014
2013
2014
2013
2014
General and Administration Expenses
Filing Fees
$ -
$ 420
1,414
Legal Fees
4,345
8,740
13,085
Professional Fees
750
-
4,515
21,575
66,617
Bank charges and interest
-
-
633
Operating loss
5,095
-
13,675
21,575
81,749
Net (loss) for the period
$ (5,095)
0
$ (13,675)
(21,575)
(81,749)
Net (loss) per share
Basic and diluted
(0.00)
(0.00)
(0.00)
(0.00)
Weighted Average Number of Common Shares Outstanding
Basic and diluted
44,000,000
44,000,000
5,500,000
5,500,000
Management Discussion and Analysis
We have not generated any revenues for the three months ended July 31, 2014.
We incurred general and administration expenses of $5,095 for the three months ended July 31, 2014, compared to general and administration expenses of $nil for the three months ended July 31, 2013. The increase in expenses is a result of an increase in professional expenses.
For the three months ended July 31, 2014, we incurred a net loss of $5,095.
Comments & Business Outlook
Pan Ocean Container Supplies, Ltd.
Formerly Known as Neveah Enterprises Ltd.
(A Development Stage Company)
Statements of Operations
From June 15, 2006
For the Three Months Ended
For the Year Ended
For the Year Ended
(Inception) to
`April 30
`April 30
April 30,
April 30,
April 30,
2014
2013
2014
2013
2014
General and Administration Expenses
Filing Fees
$ -
$ -
$ 420
1,414
Legal Fees
$ 8,740
8,740
8,740
Professional Fees
2,965
7,955
4,515
21,575
65,867
Bank charges and interest
-
-
-
633
Operating loss
11,705
7,955
13,675
21,575
76,654
Net (loss) for the period
$ (11,705)
$ (7,955)
$ (13,675)
(21,575)
(76,654)
Net (loss) per share
Basic and diluted
(0.00)
(0.00)
(0.00)
(0.00)
Weighted Average Number of Common Shares Outstanding
Basic and diluted
44,000,000
44,000,000
44,000,000
44,000,000
Management Discussion and Analysis
Overview
Pan Ocean Container Supplies Ltd. was incorporated in the state of Nevada on June 15, 2006. The Company intends to operate as a software developer which will create a software interface which will integrate existing cellular phone devices with an automobile's existing navigation system in order to relay text or email message through an automobile's sound system or navigation display. The initial region we plan to market our website to is in major city centers in China. We currently have signed a contract with a local Chinese software programmer to create and develop our proposed user interface. We expect that we will have a working, beta stage software by the end of June 2015. We currently have not advanced beyond the business plan state from our inception until the date of this filing. We anticipate that in order for us to begin commercialization and retail sale of our product, we will need to raise additional capital. We currently do not have any specific plans to raise these funds.
Results of Operations
Revenues
There were no revenues generated for the fiscal period ended April 30, 2014 and no revenues have been earned by the Company since it's inception.
Net Income
We experienced a net loss of $13,675 for the fiscal year ended April 30, 2014 compared to a net loss of $21,575 for the fiscal year ended April 30, 2013.
Reverse Merger Activity
On
July 10, 2014 , we executed an agreement with Pan Ocean Container Supplies Co., Ltd . (“Pan Ocean”), and our company (the "Agreement"), whereby pursuant to the terms and conditions of that Agreement,
Pan Ocean shareholders will acquired six million (6,000,000) shares of our common stock, and Pan Ocean would become a wholly owned subsidiary of the Company. This issuance of stock will not involve any public offering, general advertising or solicitation. No assurances can be provided that the transaction will be closed. Upon closing we will publish an expanded Form 8-K filing which will include the audited financials of Pan Ocean and Pro-Forma financial statements.