ITEM
1
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FINANCIAL
STATEMENTS
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Road
Marshall, Inc.
BALANCE
SHEETS
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|
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December
31, 2018 (Unaudited)
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September
30, 2018
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ASSETS
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Cash and cash equivalents
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|
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$
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8,000
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$
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8,000
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TOTAL ASSETS
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$
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8,000
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$
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8,000
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LIABILITIES AND STOCKHOLDERS’ EQUITY
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CURRENT LIABILITIES:
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|
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Accrued expenses
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$
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-
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$
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5,828
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Total Current Liabilities
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|
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-
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5,828
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STOCKHOLDERS' EQUITY :
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Preferred
stock ($.0001 par value, 20,000,000 shares authorized; 100,000 issued and outstanding as of December 31, 2018 and
September 30, 2018)
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10
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10
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Common
stock ($.0001 par value, 500,000,000 shares authorized, 20,000,000 shares issued and outstanding as of December 31, 2018
and September 30, 2018)
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2,000
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|
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2,000
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Additional paid in capital
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|
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144,658
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130,700
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Stock subscription receivable
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(25,000)
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(25,000)
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Accumulated deficit
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(113,668)
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(105,538)
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Total Stockholders' Equity
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|
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8,000
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|
|
2,172
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TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
|
|
$
|
8,000
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|
$
|
8,000
|
See Accompanying
Notes to Unaudited Financial Statements.
-F1-
Table
of Contents
Road
Marshall, Inc.
STATEM
ENTS
OF OPERATIONS
(UNAUDITED)
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|
Three
Months Ended December 31, 2018
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Three
Months Ended December 31, 2017
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Operating
Expenses
|
|
|
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General
and administrative expenses
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8,130
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8,045
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Total
Operating Expenses
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8,130
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8,045
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Net
Loss
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$
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(8,130)
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$
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(8,045)
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|
|
|
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Net
loss per common share - Basic and Diluted
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$
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(0.00)
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$
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(0.00)
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|
|
|
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Weighted
average number of common shares outstanding - Basic and Diluted
|
|
20,000,000
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|
20,000,000
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See
Accompanying Notes to Unaudited Financial Statements.
-F2-
Table
of Contents
Road
Marshall, Inc.
STATEMENTS
OF CASH FLOWS
(UNAUDITED)
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|
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For
the Three Months Ended December 31, 2018
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For
the Three Months Ended December 31, 2017
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CASH
FLOWS FROM OPERATING ACTIVITIES
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|
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Net
loss
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$
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(8,130)
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$
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(8,045)
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Adjustments
to reconcile net loss to net cash provided by in operating activities:
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|
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Changes
in operating assets and liabilities
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|
|
|
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Accrued
expenses
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8,130
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|
|
8,045
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Net
cash provided by operating activities
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|
-
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-
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|
|
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Net
Change in Cash and Cash equivalents
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|
-
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-
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Cash
and cash equivalents at beginning of period:
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8,000
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|
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8,000
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Cash
and cash equivalents at end of period:
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$
|
8,000
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$
|
8,000
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SUPPLEMENTAL
DISCLOSURES OF CASH FLOW INFORMATION:
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|
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Interest
paid
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$
|
-
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|
$
|
-
|
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Interest
taxes paid
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$
|
-
|
|
$
|
-
|
|
NON
- CASH INVESTING AND FINANCIAL ACTIVITIES:
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|
|
|
|
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Operation expenses
and accrued expense paid by
shareholder
|
$
|
13,958
|
|
$
|
10,545
|
See
Accompanying Notes to Unaudited Financial Statements.
-F3-
Table of Contents
Road Marshall, Inc.
NOTES
TO UNAUDITED FINANCIAL STATEMENTS
For
the period ENDED December 31, 2018
(UNAUDITED)
NOTE
1 - ORGANIZATION AND DESCRIPTION OF BUSINESS
Road Marshall, Inc. (the “Company”) was incorporated
under the laws of the State of Delaware on September 17, 2015. Road Marshall, Inc. is a technology company engaged in the development
of a mobile application for iOS and Android devices.
The Company has elected September 30th
as its year end.
Basis of Presentation
The accompanying unaudited interim
financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United
States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited
financial statements and notes thereto contained in the Company’s most recent Annual Financial Statements filed with the
SEC on Form 10K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair
presentation of financial position and the results of operations for the interim period presented have been reflected herein.
The results of operations for the interim period are not necessarily indicative of the results to be expected for the full year.
Notes to the financial statements which would substantially duplicate the disclosures contained in the audited financial statements
for the most recent fiscal period, as reported in the Form 10-K for the most recent fiscal year, as filed with the Securities
and Exchange Commission on December 28, 2018, have been omitted.
Certain amounts from the prior year have been reclassified to conform to the current year presentation. This
reclassification has no impact on the Company’s net earnings.
NOTE
2 - GOING CONCERN
The Company’s financial statements are prepared using
accounting principles generally accepted in the United States of America applicable to a going concern that contemplates the realization
of assets and liquidation of liabilities in the normal course of business.
The Company demonstrates adverse conditions that raise substantial
doubt about the Company's ability to continue as a going concern for one year following the issuance of these financial statements.
These adverse conditions are negative financial trends, specifically recurring operating losses, accumulated deficit and other
adverse key financial ratios.
During the three months ended December 31, 2018 the Company
did not generate any revenue to cover its operating expenses. Management plans to fund operating expenses with related party contributions.
There is no assurance that management's plan will be successful.
The financial statements do not include any adjustments relating
to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary
in the event that the Company cannot continue as a going concern.
NOTE 3 - RELATED
PARTY TRANSACTIONS
Contributions
During the three months ended December 31, 2018 and 2017,
$8,130 and $8,045 in operating expenses, respectively, were paid by our Chief Executive Officer (CEO), Engchoon Peh, on behalf
of the Company. These expenses, consisting mostly of professional and consulting fees, are considered contributions to capital
and recorded as additional paid in capital due to the fact that our CEO does not require the repayment from the Company.
During the three months ended December 31, 2018 and 2017,
our CEO paid accrued expenses of $5,828 and $2,500, respectively, on behalf of the Company, which are considered contributions
to capital and recorded as additional paid in capital due to the fact that our CEO does not require the repayment from the Company.
Office furnished by related party
The Company’s executive office is located at 194
Pandan Loop #05-08, Singapore. This office is furnished to the Company by its CEO at no charge.
-F4-
Table
of Contents
ITEM 2
|
MANAGEMENT’S
DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
|
FORWARD LOOKING STATEMENTS
This Quarterly Report of Road Marshall, Inc.
on Form 10-Q contains forward-looking statements, particularly those identified with the words, “anticipates,” “believes,”
“expects,” “plans,” “intends,” “objectives,” and similar expressions. These statements
reflect management's best judgment based on factors known at the time of such statements. The reader may find discussions containing
such forward-looking statements in the material set forth under “Management's Discussion and Analysis of Financial Condition
and Results of Operations,” generally, and specifically therein under the captions “Liquidity and Capital Resources”
as well as elsewhere in this Quarterly Report on Form 10-Q. Actual events or results may differ materially from those discussed
herein. The forward-looking statements specified in the following information have been compiled by our management on the basis
of assumptions made by management and considered by management to be reasonable. Our future operating results, however, are impossible
to predict and no representation, guarantee, or warranty is to be inferred from those forward-looking statements.
The assumptions used for purposes of the forward-looking
statements specified in the following information represent estimates of future events and are subject to uncertainty as to possible
changes in economic, legislative, industry, and other circumstances. As a result, the identification and interpretation of data
and other information and their use in developing and selecting assumptions from and among reasonable alternatives require the
exercise of judgment. To the extent that the assumed events do not occur, the outcome may vary substantially from anticipated or
projected results, and, accordingly, no opinion is expressed on the achievability of those forward-looking statements. No assurance
can be given that any of the assumptions relating to the forward-looking statements specified in the following information are
accurate, and we assume no obligation to update any such forward-looking statements.
CRITICAL ACCOUNTING POLICIES AND ESTIMATES
We prepare our financial statements in conformity with GAAP, which
requires management to make certain estimates and apply judgments. We base our estimates and judgments on historical experience,
current trends and other factors that management believes to be important at the time the financial statements are prepared. Due
to the need to make estimates about the effect of matters that are inherently uncertain, materially different amounts could be
reported under different conditions or using different assumptions. On a regular basis, we review our critical accounting policies
and how they are applied in the preparation of our financial statements.
While we believe that the historical experience, current trends
and other factors considered support the preparation of our financial statements in conformity with GAAP, actual results could
differ from our estimates and such differences could be material.
PLAN OF OPERATION
Currently, we are a company with the intent to become one of the,
if not the primary, leading publicly traded iOS and Android application development and promotion companies in the industry. Our
proprietary application that is fully developed is called Road Marshall. Road Marshall is an application which we believe will
be invaluable to its users in the event of car trouble and we believe it may revolutionize the way tow truck companies are found
within the United States, and eventually around the world.
It is worth noting that our application Road Marshall is currently
free to download and use. The Company intends to monetize the mobile application through third party advertisements. These advertisements
could include, but not strictly be limited to, their products, services, and or other mobile applications that are not in direct
competition to our own (such as application games for example). At this point in time there are no agreements in place with any
specific advertisers, and our plan to monetize our application through advertisements remains in the planning stages.
We will only begin monetizing the application through advertisements
when the application has gained a larger user base. We believe that when a sufficient user base has been achieved then the addition
of unobtrusive advertisements will not materially impact the number of users who utilize Road Marshall. There is also the possibility
that Road Marshall may insert “in app” purchases whereby a user can purchase upgraded services or products within the
app. However, this is speculative and is only mentioned as a possibility down the line if we are not generating sufficient revenue
from the use of advertisements alone. At present, no definitive plans are in place for any “in app” purchases. At present
we intend to further develop features of the application, and we also plan to develop a strategy to attain a broad user base. The
timeline of the aforementioned is undetermined.
While we have plans to further develop our existing mobile application
as mentioned above, from time to time we also intend to provide services to third parties relating to the development of other
mobile applications. Currently, the Company is providing services to a third party Company to assist in the development of a similar
mobile application to “Road Marshall,” specifically targeted for the Malaysian market.
RESULTS OF OPERATIONS
For the three months ended December 31, 2018 and
2017
We generated $0 in revenue for the three months ended December
31, 2018 and 2017, respectively. Our operating expenses were $8,130 and $8,045 for the three months ended December 31, 2018 and
2017, respectively. Operating expenses were solely general and administrative in nature, consisting primarily of professional
and consulting fees. Our net loss for the three-month period ended December 31, 2018 and 2017 were $8,130 and $8,045, respectively.
LIQUIDITY AND CAPITAL RESOURCES
We have no known demands or commitments
and are not aware of any events or uncertainties as of December 31, 2018 that will result in or that are reasonably likely to
materially increase or decrease our current liquidity.
We had no material commitments for capital
expenditures as of December 31, 2018.
For future expenses we intend to be funded
by our officers and directors until we can generate substantive revenues from our application, Road Marshall or from technical
services provided to clients. There is a possibility that our officers and directors may not loan or provide us any such funds.
-3-
Table
of Contents
OFF-BALANCE
SHEET ARRANGEMENTS
The
Company does not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect
on the Company’s financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity,
capital expenditures or capital resources that is material to investors.
ITEM
4
|
CONTROLS
AND PROCEDURES
|
Evaluation
of Disclosure Controls and Procedures
We
maintain disclosure controls and procedures (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) that are designed
to ensure that information required to be disclosed in the reports we file or submit under the Exchange Act is recorded, processed,
summarized and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated
and communicated to our management, including our chief executive officer and chief financial officer, as appropriate to allow
timely decisions regarding disclosure. In designing and evaluating the disclosure controls and procedures, management recognized
that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving
the desired control objectives, and management necessarily was required to apply its judgment in evaluating the cost-benefit relationship
of possible controls and procedures.
Our
Principal Executive Officer and Principal Financial Officer evaluated the effectiveness of our disclosure controls and
procedures as of December 31, 2018. Based on that evaluation, our Principal Executive Officer and Principal Financial Officer
concluded that our disclosure controls and procedures as of the end of the period covered by this report were
ineffective.
Changes
in Internal Controls over Financial Reporting
There
have been no significant changes to the Company’s internal controls over financial reporting that occurred during our
last fiscal quarter ended December 31, 2018 that materially affected, or were reasonably likely to materially affect, our
internal controls over financial reporting.