WEB NEWS Comments & Business Outlook
UONLIVE CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
AND COMPREHENSIVE LOSS
FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2015 AND 2014
(Currency expressed in United States Dollars (“US$”), except for number of shares)
(Unaudited)
Three months ended June 30,
Six months ended June 30,
2015
2014
2015
2014
REVENUES, NET
$
-
$
-
$
-
$
-
COST OF REVENUE
-
-
-
-
GROSS LOSS
-
-
-
-
Operating expenses:
Consulting and professional fee
23,171
2,000
84,270
4,000
General and administrative
388
14
8,080
14
23,559
2,014
92,350
4,014
LOSS BEFORE INCOME TAXES
(23,559
)
(2,014
)
(92,350
)
(4,014
)
Income tax expense
-
-
-
-
NET LOSS
$
(23,559
)
$
(2,014
)
$
(92,350
)
$
(4,014
)
Other comprehensive loss:
- Foreign currency translation loss
(846
)
(2,494
)
(2,198
)
(1,564
)
COMPREHENSIVE LOSS
$
(24,405
)
$
(4,508
)
$
(94,548
)
$
(5,578
)
Net loss per share – basic and diluted
$
(0.01
)
$
(0.00
)
$
(0.05
)
$
(0.00
)
Weighted average common shares outstanding – basic and diluted
1,996,355
1,996,355
1,996,355
1,996,355
Management Discussion and Analysis
Operating Revenue
We recorded no consolidated revenue and consolidated gross loss for the three-month period ended June 30, 2015 and the same corresponding period in 2014 as we are a shell company without any operations to generate revenue. We do not anticipate receiving further revenue for so long as we have no operations.
We incurred a net loss of $23,559 for the three-month period ended June 30, 2015, compared to $2,014 for the corresponding period in the year 2014. We accounted for a comprehensive loss of $24,405 for the three-month period ended June 30, 2015 after an adjustment on the foreign currency translation, compared to $4,508 for the same corresponding period in 2014.
Comments & Business Outlook
UONLIVE CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
FOR THE YEARS ENDED DECEMBER 31, 201 4 AND 201 3
(Currency expressed in United States Dollars (“US$”), except for number of shares)
Years ended December 31,
2014
2013
Revenues, net:
$
-
$
-
Cost of revenue
-
-
Gross loss
-
-
Operating expenses:
Consulting and professional fee
12,000
10,000
General and administrative
304
1,296
Total operating expenses
12,304
11,296
LOSS BEFORE INCOME TAXES
(12,304
)
(11,296
)
Income tax expense
-
-
NET LOSS
$
(12,304
)
$
(11,296
)
Other comprehensive income:
- Foreign currency translation gain
1,099
1,225
COMPREHENSIVE LOSS
$
(11,205
)
$
(10,071
)
Net loss per share – Basic and diluted
$
(0.01
)
$
(0.01
)
Weighted average common shares outstanding – Basic and diluted
1,996,355
1,996,355
Managemen t Discussion and Analysis
Revenue
We recorded no revenue for the fiscal year ended December 31, 2014 and the fiscal year ended December 31, 2013, due to the Company ceasing operations (as discussed above) and the resulting classification of operations, assets and liabilities associated with the discontinued operations under accounting principles generally accepted in the United States of America (“GAAP”). We anticipate not receiving any revenue for so long as operations have ceased.
Net Loss
We had a net loss of $12,304 for the fiscal year ended December 31, 2014 as compared to net loss of $11,296 for the fiscal year ended December 31, 2013, the difference primarily due to the increase in operating expenses as described above.
Comments & Business Outlook
UONLIVE CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
FOR THE YEARS ENDED DECEMBER 31, 2013 AND 2012
(Currency expressed in United States Dollars (“US$”), except for number of shares)
Years ended December 31,
2013
2012
Revenues, net
$
-
$
-
Cost of revenue
-
-
Gross loss
-
-
Operating expenses:
Consulting and professional fee
10,000
33,008
General and administrative
1,296
142,129
Total operating expenses
11,296
175,137
LOSS BEFORE INCOME TAXES
(11,296
)
(175,137
)
Income tax expense
-
-
NET LOSS
$
(11,296
)
$
(175,137
)
Other comprehensive income:
- Foreign currency translation gain (loss)
1,225
(7,060
)
COMPREHENSIVE LOSS
$
(10,071
)
$
(182,197
)
Net loss per share – Basic and diluted
$
(0.01
)
$
(0.09
)
Weighted average common shares outstanding – Basic and diluted
1,996,355
1,996,355
Management Discussion and Analysis
Revenue
We recorded no revenue for the fiscal year ended December 31, 2013 and the fiscal year ended December 31, 2012, due to the Company ceasing operations (as discussed above) and the resulting classification of operations, assets and liabilities associated with the discontinued operations under accounting principles generally accepted in the United States of America (“GAAP”). We anticipate not receiving any revenue for so long as operations have ceased.
We had a net loss of $11,296 for the fiscal year ended December 31, 2013 as compared to net loss of $175,137 for the fiscal year ended December 31, 2012, the difference primarily due to the decrease in operating expenses as described above.
Comments & Business Outlook
UONLIVE CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
AND COMPREHENSIVE LOSS
FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 201 3 AND 201 2
(Currency expressed in United States Dollars (“US$”), except for number of shares)
(Unaudited)
Three months ended September 30,
Nine months ended September 30,
2013
2012
2013
2012
REVENUES, NET
- Related party
$
-
$
-
$
-
$
-
Total revenues, net
-
-
-
-
COST OF REVENUE (exclusive of depreciation)
-
-
-
-
GROSS LOSS
-
-
-
-
Operating expenses:
Sales and marketing
-
-
-
-
General and administrative
-
8,447
6,295
155,498
Total operating expenses
-
8,447
6,295
155,498
LOSS BEFORE INCOME TAXES
-
(8,447
)
(6,295
)
(155,498
)
Income tax expense
-
-
-
-
NET LOSS
$
-
$
(8,447
)
$
(6,295
)
$
(155,498
)
Other comprehensive (loss) income:
- Foreign currency translation (loss) gain
(1,014
)
(1,067
)
1,224
(5,820
)
COMPREHENSIVE LOSS
$
(1,014
)
$
(9,514
)
$
(5,071
)
$
(161,318
)
Net loss per share – basic and diluted
$
-
$
(0.00
)
$
(0.00
)
$
(0.08
)
Weighted average common shares outstanding – basic and diluted
1,996,355
1,996,355
1,996,355
1,996,355
Management Discussion and Analysis
We recorded no operating expenses for the three-month period ended September 30, 2013 compared to $8,447 in the corresponding period of 2012, reflecting the gradual ceasing of our operations commencing the first quarter of 2012.
We did not incur any loss or gain for the three-month period ended September 30, 2013, compared to a net loss of $8,447 for the corresponding period in the year 2012.
We accounted for a comprehensive loss of $1,014 for the three-month period ended September 30, 2013 after an adjustment on the foreign currency translation, compared to $9,514 for the same corresponding period in 2012.
Comments & Business Outlook
UONLIVE CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
AND COMPREHENSIVE LOSS
FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 201 3 AND 201 2
(Currency expressed in United States Dollars (“US$”), except for number of shares)
(Unaudited)
Three months ended June 30,
Six months ended June 30,
2013
2012
2013
2012
REVENUES, NET
- Related party
$
-
$
-
$
-
$
-
Total revenues, net
-
-
-
-
COST OF REVENUE (exclusive of depreciation)
-
-
-
-
GROSS LOSS
-
-
-
-
Operating expenses:
Sales and marketing
-
-
-
-
General and administrative
1,231
6,153
6,295
147,051
Total operating expenses
1,231
6,153
6,295
147,051
LOSS BEFORE INCOME TAXES
(1,231
)
(6,153
)
(6,295
)
(147,051
)
Income tax expense
-
-
-
-
NET LOSS
$
(1,231
)
$
(6,153
)
$
(6,295
)
$
(147,051
)
Other comprehensive (loss) income:
- Foreign currency translation (loss) gain
(2,912
)
(2,983
)
2,238
(4,753
)
COMPREHENSIVE LOSS
$
(4,143
)
$
(9,136
)
$
(4,057
)
$
(151,804
)
Net loss per share – basic and diluted
$
(0.00
)
$
(0.00
)
$
(0.00
)
$
(0.07
)
Weighted average common shares outstanding – basic and diluted
1,996,355
1,996,355
1,996,355
1,996,355
Management Discussion and Analysis
We recorded no consolidated revenue and consolidated gross loss for the three-month period ended June 30, 2013 and the same corresponding period in 2012 as we are a shell company without any operations to generate revenue. We do not anticipate receiving further revenue for so long as we have no operations.
We incurred a net loss of $1,231 for the three-month period ended June 30, 2013, compared to $6,153 for the corresponding period in the year 2012.
We accounted for a comprehensive loss of $4,143 for the three-month period ended June 30, 2013 after an adjustment on the foreign currency translation, compared to $9,136 for the same corresponding period in 2012.
