CLOUDWEB, INC. Management’s Discussion and Analysis of Financial Condition or Operating Plan (Form 10-Q)

forward-looking statements

This quarterly report contains forward-looking statements that relate to future events or our future financial performance. In some cases, you can identify forward-looking by terms such as “may,” “should,” “intend,” “anticipate,” “plan,” “anticipate,” “believe,” “estimate,” “forecast” Statement, “potential” or “continue” or the negation of these or other similar terms. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that could cause our or our industry’s actual results, levels of activity or performance to differ materially from any future results, levels of activity or performance expressed or implied by these Different forward-looking statements.

Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity or performance. You should not place undue reliance on these statements, which are made only as of the date of publication. These cautionary statements should be considered in conjunction with any forward-looking statements, written or oral, that we may make in the future.Unless required by applicable law, including securities laws U.S.we do not intend to update any forward-looking statements to conform these statements to actual results, future events or circumstances or to reflect the occurrence of unanticipated events.

In this report, unless otherwise stated, all dollar amounts are in
U.S. U.S. dollars and all references to “common stock” refer to ordinary shares of our capital stock.

Management’s discussion and analysis of our financial condition and results of operations is based on our financial statements, which have been prepared in accordance with generally accepted accounting principles United States of America (“GAAP”).

The terms “we”, “us”, “our” and “our company” as used in this quarterly report mean cloud network companyUnless otherwise indicated.


General Overview



Our Company


cloud network company Is an Florida company was founded on May 25, 2014 as
Formili exist December 2015Company renamed data backup companyand November 4, 2016Company renamed Data Backup Solutions Company superior October 1, 2017Company renamed cloud network company

Our headquarters are located at 800 W El Camino Real Suite 180 Mountain View,
FloridaCalifornia 94040.

We are currently exploring different options for further developing and marketing our web hosting and data storage services Hostwizer.com, W8hosting.com and JeyCloud.com. This includes plans that offer hosting for free while being supported by advertiser content. Companies will also look into white-labeling their services to allow other brands to use our platform for their own needs.

We do not have any subsidiaries.

We have never been declared bankrupt, taken into receivership or involved in legal proceedings of any kind.



Results of Operations



The following summary of our business should be read in conjunction with our unaudited condensed financial statements for the nine months ended September 30, 2022 and 2021.



         13

  Table of Contents




Three months ended September 30, 2022 compared to three months ended September
30, 2021



                             Three Months Ended
                                September 30,
                                 2022         2021      Changes         %

Operating Expenses
   Professional fees       $    9,150     4  7,560     $  1,590        21 %
Total operating expenses        9,150        7,560        1,590        21 %
Other expenses                  9,142        9,933         (791 )    (8%)
Net Loss                   $   18,292     $ 17,493     $    799         5 %



We have no income for the three months ended September 30, 2022 and 2021.

Our net loss for the three months ended September 30, 2022 used to be $18,292 compared to net loss $17,493 For the three months ended September 30, 2020 due to increased professional fees.



Nine months ended September 30, 2022 compared to nine months ended September 30,
2021



                             Nine months ended
                               September 30,
                             2022          2021       Changes        %

Operating expenses

Professional Fees $37,950 $29,910 $8,040 27 % Total operating expenses 37,950 29,910 8,040 27 % Other expenses

                28,505       29,495         (990 )    (3%)
Net Loss                   $  66,455     $ 59,405     $  7,050        12 %



We have no income in the nine months ended September 30, 2022 and 2021.

Our net loss for the nine months ended September 30, 2022 used to be $66,455 compared to net loss $59,405 nine months ended September 30, 2021 due to increased professional fees.


Liquidity and Capital



Working Capital



                                  As of               As of
                              September 30,       December 31,
                                  2022                2021           Changes       %

Current Assets               $             -     $            -     $       -        -
Current Liabilities          $       456,575     $      392,620     $  63,955       16 %
Working Capital Deficiency   $      (456,575 )   $     (392,620 )   $ (63,955 )     16 %



as in September 30, 2022 and December 31, 2021our company has no cash and no assets.

as in September 30, 2022our company’s current liabilities are $456,575 compared to $392,620 as December 31, 2021. The increase in current liabilities was due to an increase in accrued interest and related parties.

as in September 30, 2022Our company has insufficient working capital
$456,575 compared to working capital deficit $392,620 as in December 31, 2021. The increase in working capital deficit was mainly due to the increase in payables to related parties and accrued interest.



         14

  Table of Contents




Cash Flows



                                                 Nine months ended
                                                   September 30,
                                                2022          2021        Changes       %

cash flow used in operating activities $ (37,450 ) $ (28,480 ) $ (8,970 ) 31 % Cash flow from financing activities 37,450 28,480 8,970 31 % Net change in cash

                           $       -     $       -     $      -        -




cash flow from operating activities

We do not generate positive cash flow from operating activities.within nine months of closing September 30, 2022the net cash used in operating activities is
$37,450 compared to $28,480 Use within nine months of ending September 30, 2021. Cash flow used in operating activities for the nine months ended .
September 30, 2022including net loss $66,455less non-cash charges $1,184 Used for discounted amortization of debt and net change in working capital $27,821. Cash flow used in operating activities for the nine months ended . September 30, 2021including net loss $59,405less non-cash charges $1,800 Used for discounted amortization of debt and net change in working capital $29,125.

cash flow from investing activities

within nine months of closing September 30, 2022 In 2021, our company will not have any investment activities.

cash flow from financing activities

within nine months of closing September 30, 2022 In 2021, net cash provided by fundraising activities was $37,450 and $28,480 Advance operating expenses to the directors of the Company respectively.


Going Concern


as September 30, 2022our cumulative deficit is $233,237,988. We believe that its existing capital resources may not be sufficient to enable it to execute its business plan. These circumstances cast significant doubt on the Company’s ability to continue as a going concern. Our company is currently exploring different options for further developing and marketing our web hosting and data storage services. The accompanying condensed financial statements do not include any adjustments that might be required if we were unable to continue as a going concern. If we fail to generate positive cash flow or obtain additional financing, we may have to revise, delay or abandon some or all of our business plans when needed.

Off-balance sheet arrangements

We have no off-balance sheet arrangements that have a material effect on our financial condition, changes in financial condition, income or expenses, results of operations, liquidity, capital expenditures or capital resources or are reasonably likely to affect current or future shareholders.

© Edgar Online, source glance

Leave a Reply

Your email address will not be published. Required fields are marked *