gocart.city
Grocery Originals
Cuore Food Services
Management’s Plan of Operation
The Company plans to continue to expand it reach to additional customers and geographies across
V2 of the gocart.city mobile application will be a subsequent release. The Company plans to further expand the features of the mobile application. Following the completion of V2 of the mobile application, the Company will consider user behaviour and plans to expand the functionality and features of the mobile application on an on-going basis going forward.
The company plans to expand storage and warehousing, expand warehouse staff, add more delivery trucks and expand the delivery area.
Critical Accounting Policies and Estimates
We believe the following critical accounting policies, among others, may be impacted significantly by judgment, assumptions and estimates used in the preparation of the Financial Statements:
RECENT ACCOUNTING PRONOUNCEMENTS
Other recent accounting pronouncements issued by the FASB, including its
COMPARISON OF RESULTS FOR THE YEARS ENDED
Sales, Cost of goods sold, Gross profit:
Breakdown of sales by branch:
Our total operating expenses for the year ended
Advertising and travel includes expenses for online advertising, website, meals and entertainment.
Initial derivative expense of
Initial derivative expense of
QUARTERLY RESULTS OF OPERATIONS
The following is a summary of selected quarterly information that has been derived from the financial statements of the Company. This summary should be read in conjunction with the consolidated financial statements of the Company.
LIQUIDITY AND CAPITAL RESOURCES
For the year ended
Cash flows used in operating activities
Net cash used in operating activities (840,745 ) (557,873 ) (282,872) 51
Cash flows used in investing activities
$ % Net cash used in investing activities (10,749 ) (5,425 ) (5,324) 98
Our net cash (used in) provided by investing activities for the year ended
Cash flows from financing activities
Net cash from financing activities 350,194 1,072,408 (722,214) (67)
Our net cash provided by financing activities for the year ended
As of
Our working capital as of
(1) Leases for retail space, equipment and warehousing is currently month to
OPERATING CAPITAL AND CAPITAL EXPENDITURE REQUIREMENTS
Years ended
Promissory Notes –
The Company is not anticipating any transactions.
CHANGES IN ACCOUNTING POLICIES INCLUDING INITIAL ADOPTION
Refer to Note 2 in the consolidated financial statements for the year ended
The main risks of the Company’s financial instrument are exposed to are credit risk, market risk, foreign exchange risk, and liquidity risk.
Refer to Note 2 in the consolidated financial statements for the year ended
As of
Common stock: 193,226,548 shares
Series A Convertible Preferred Stock: 25,000
Series B Convertible Preferred Stock: 4,000
Series C Convertible Preferred Stock: 90,000
OFF-BALANCE SHEET TRANSACTIONS
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