GABBIT CORP. Management’s Discussion and Analysis of Financial Condition and Results of Operations (Form 10-Q)

0

Caution Regarding Forward-Looking Statements

This report contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Forward-looking statements are not statements of historical fact, but rather reflect our current expectations regarding future events and results. The words “may”, “will”, “anticipate”, “should”, “would”, “believe”, “consider”, “could”, “project”, “predict”, “expect”, ” estimate”, “continue” and “intend”, and other similar words and expressions of the future, are intended to identify forward-looking statements.

Factors that could cause actual results to differ materially from those expressed or implied include, but are not limited to, those listed under “Risk Factors” in our registration statement on Form 10/A for the financial year ended February 28, 2021
filed by the Company with the Security and Exchange Commission (the “SEC”) on
September 24, 2021.

These forward-looking statements generally relate to our plans, goals and expectations for future events and include statements about our expectations, beliefs, plans, goals, intentions, assumptions and other statements that are not historical facts. These statements are based on our opinions and estimates as of the date they are made. Although we believe that the expectations reflected in these forward-looking statements are reasonable, these forward-looking statements are subject to known and unknown risks and uncertainties that may be beyond our control, which could cause actual results, performance and achievements to be materially different from those results, performances and achievements projected, expected, expressed or implied by the forward-looking statements. Although we cannot assess the future impact that any of these differences may have on our business, financial condition, results of operations and cash flows or the market price of our common stock, the differences could be important. You are cautioned not to place undue reliance on these forward-looking statements when evaluating the information presented in this report and you are urged to consider all such risks and uncertainties. In light of the inherent uncertainty in such forward-looking statements, you should not consider their inclusion as a representation that such forward-looking matters will be realized.


General Overview



Results of operations


Three months completed November 30, 2021 compared to the three months ended November 30, 2020



Net Loss



For the three months ended November 30, 2021 and 2020, we incurred net losses of approximately $4,544 and $300 respectively.


Revenue


For the three months ended November 30, 2021 and 2020, we did not generate any revenue.


Expenses


For the three months ended November 30, 2021 we incurred expenses of approximately $4,544 and which was mainly related to professional fees.

For the three months ended November 30, 2020, we incurred administrative expenses of approximately $300 which was mainly related to transfer agent fees.






  8





End of nine months November 30, 2021 compared to the nine months ended November 30, 2020



Net Loss



For the nine months ended November 30, 2021 and 2020, we incurred net losses of approximately $14,272 and $1,650 respectively.


Revenue


For the nine months ended November 30, 2021 and 2020, we did not generate any revenue.


Expenses


For the nine months ended November 30, 2021 we incurred expenses of approximately $14,272 and which was mainly related to professional fees.

For the nine months ended November 30, 2020, we incurred administrative expenses of approximately $1,650 which was mainly related to transfer agent and state fees.



Financial condition



Cash and capital resources

Currently, we rely on our management to provide us with the capital necessary to run our business on a day-to-day basis.

For the nine months ended November 30, 2021 and 2020, we incurred net losses of approximately $14,272 and $1,650 respectively. From November 30, 2021 we had no cash and short-term debts of $26,477. From February 28, 2021, we had no cash and current liabilities of $12,205.

We will seek additional funds through equity or debt financing, collaborative or other agreements with business partners, licensees or others, and from other sources, which may have the effect of dilute the holdings of existing shareholders. The Company has no current arrangements for, or sources of, such additional funding and we do not expect existing shareholders to provide any part of our future funding requirements.

There can be no assurance that additional financing will be available when needed or that such financing will be available on terms acceptable to the Company. If adequate funds are not available, we may be required to delay or terminate expenditures for some of its programs that it would otherwise seek to develop and commercialize. This would have a material adverse effect on the Company.








  9

© Edgar Online, source Previews

Share.

Comments are closed.