UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

x	QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	FOR THE QUARTERLY PERIOD ENDED JANUARY 31, 2018

Commission file number 333-208934

RELIANT SERVICE INC.

(Exact name of registrant as specified in its charter)

Nevada

(State or other jurisdiction of incorporation or organization)

3 Rabí, Rabí, Czech Republic 34201

servicesreliant@gmail.com

(Address of principal executive offices, including zip code.)

Telephone (702)442-0901

(Telephone number, including area code)

Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the last 90 days. YES x NO o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). YES x NO o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer, “accelerated filer,” “non-accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	¨	Accelerated filer	¨
Non-accelerated filer	¨	Smaller reporting company	x

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YES o NO x

State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date: 5,015,000 shares as of March 12, 2018.

PART I

FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

RELIANT SERVICE INC
(A Development Stage Company)
Balance Sheet
	For the			For the
	Three Months Ended			Year Ended
	January 31, 2018			July 31, 2017
	(Unaudited)			(Audited)
ASSETS
Current Assets
Cash (USD)	$	151		$	2,744
Income Tax Benefit		5,219			4,704
Total Current Assets		5,370			7,448
Fixed Assets
Czech Office Building		11,900			11,900
Less Accumulated Depreciation		(1,595	)		(1,305	)
Total Fixed Assets		10,305			10,595
Total Assets	$	15,675		$	18,043
LIABILITIES & STOCKHOLDERS' EQUITY
Current Liabilities
Loan Payable - Related Party	$	100		$	100
Total Current Liabilities		100			100
Stockholders' Equity
Common stock, ($0.001 par value, 75,000,000 shares authorized; 5,015,000 shares issued and outstanding as of January 31, 2018 and July 31, 2017	$	5,015		$	5,015
Additional Paid-In Capital		39,585			39,585
Net profit (loss) accumulated during development stage		(29,025	)		(26,657	)
Total Stockholders' Equity		15,575			17,943
Total Liabilities & Stockholders' Equity	$	15,675		$	18,043

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RELIANT SERVICE INC
(A Development Stage Company)
Statement of Operations (Unaudited)
													From Inception
	For the			For the			For the			For the			(March 20,
	Three Months Ended			Three Months Ended			Six Months Ended			Six Months Ended			2015) Through
	January 31, 2018			January 31, 2017			January 31, 2018			January 31, 2017			January 31, 2018
Revenues
Merchandise Sales	$	31,843		$	30,083		$	62,442		$	67,015		$	342,031
Cost of Goods Sold		31,118			29,181			60,338			59,832			288,301
Gross Profit		725			902			2,104			7,183			53,730
Expenses
General and Administration		999			18,277			4,697			19,126			51,774
Depreciation		145			145			290			290			1,595
Private Label Development		-			-			-			38,700			38,700
Total Expenses		1,144			18,422			4,987			58,116			92,069
Income Before Income Taxes		(419	)		(17,520	)		(2,883	)		(50,933	)		(38,339	)
Income Tax Benefit (Provision)		63			2,628			433			7,640			9,314
Net Income	$	(356	)	$	(14,892	)	$	(2,450	)	$	(43,293	)	$	(29,025	)
Net Income (loss) Per Basic and Diluted share		(0.0001	)		(0.0037	)		(0.0006	)		(0.0108	)		(0.0073	)
Weighted average number of Common Shares outstanding		5,015,000			5,015,000			5,015,000			5,015,000			5,015,000

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RELIANT SERVICE INC
(A Development Stage Company)
Statement of Cash Flows (Unaudited)
							From Inception
	For the			For the			(March 20,
	Six Months Ended			Six Month  Ended			2015) Through
	January 31, 2018			January 31, 2017			January 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$	(2,450	)	$	(43,293	)	$	(29,025	)
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Income Tax Benefit (Payable)		(433	)		(7,640	)		(5,219	)
Accounts Payable		-			10,000			-
Depreciation		290			290			1,595
Changes in operating assets and liabilities:
Net cash provided by (used in) operating activities		(2,593	)		(40,643	)		(32,649	)
CASH FLOWS FROM INVESTING ACTIVITIES
Czech Office Building		-			-			(11,900	)
Net cash provided by (used in) investing activities		-			-			(11,900	)
CASH FLOWS FROM FINANCING ACTIVITIES
Loan Payable - Related Party		-			-			100
Issuance of common stock		-			40,600			44,600
Net cash provided by (used in) financing activities		-			40,600			44,700
Net increase (decrease) in cash		(2,593	)		(43	)		151
Cash at beginning of period		2,744			221			-
Cash at end of period	$	151		$	178		$	151
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid during year for:
Interest	$	-			-
Income Taxes	$	-			-

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RELIANT SERVICE INC

(A DEVELOPMENT STAGE COMPANY)

NOTES TO FINANCIAL STATEMENTS

January 31, 2018

NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS

Reliant Service Inc. (the “Company”) was incorporated in the state of Nevada on March 20, 2015. The company develops marketing channels to distribute office equipment to the wholesale market in the United States. Our functional currency is the US Dollar and all the references to currency in the financial statements are in US Dollars.

The Company is a development stage company as defined by the Financial Accounting Standards Board’s Accounting Standards Codification Topic 915 related to Development Stage Entities. The Company qualifies as a development stage company as it has not generated significant revenues from operations.

Basis of Presentation

The Company prepares its financial statements on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (GAAP).

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

This summary of significant accounting policies is presented to assist in understanding these financial statements. The financial statements and notes are representations of management, who is responsible for their integrity and objectivity.

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.

Cash

The Company considers all cash balances on deposit with financial institutions and highly liquid investments with a maturity of three months or less to be cash equivalents.

Property and Equipment

Property and equipment is stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over estimated useful lives listed below:

	Estimated Useful Life
Buildings	15 years

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RELIANT SERVICE INC

(A DEVELOPMENT STAGE COMPANY)

NOTES TO FINANCIAL STATEMENTS

January 31, 2018

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

Property

The Company’s principal offices are located at 3 Rabi, Rabi, Czech Republic, 34201. The property was purchased on July 30, 2015 for $11,900.

Income Taxes

We account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, we determine deferred tax assets and liabilities on the basis of the differences between the financial statement and tax bases of the asset and liabilities by using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date.

We recognize deferred tax assets to the extent that we believe that these assets are more likely than not to be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies and results of recent operations. If we determine that we would be able to realize our deferred tax assets in the future in excess of their net recorded amount, we would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes.

We record uncertain tax positions in accordance with ASC 740 on the basis of a two-step process in which (1) we determine whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold. We recognize the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority.

Revenue Recognition

The Company recognizes revenues and the related costs when persuasive evidence of an arrangement exists, delivery and acceptance has occurred, the price is fixed or determinable, and collection of any resulting receivable is reasonably assured. Costs and expenses are recognized during the period in which they are incurred. Any revenues earned are from the sales of office equipment. The Company recognizes these sales once delivery time is confirmed by the customer.

All revenue generated by the Company to date has been generated from U.S. sales and deposited to our U.S. bank account.

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RELIANT SERVICE INC

(A DEVELOPMENT STAGE COMPANY)

NOTES TO FINANCIAL STATEMENTS

January 31, 2018

NOTE 3 – UNAUDITED FINANCIAL STATEMENTS

The balance sheet as of January 31, 2018 and the statements of operations and cash flows for the three-month periods ended January 31, 2018 have been prepared by the Company without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures, normally included in the financial statements prepared in accordance with accounting principles generally accepted in the United States of America, have been condensed or omitted as allowed by such rules and regulations, and the Company believes that the disclosures are adequate to make the information presented not misleading. The results of operations for the three months ended January 31, 2018 are not necessarily indicative of results expected for the full year ending July 31, 2018. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and changes in financial position at January 31, 2018 have been made.

It is suggested that these statements be read in conjunction with the July 31, 2017 and 2016 audited financial statements and the accompanying notes.

NOTE 4 – GOING CONCERN

The accompanying financial statements and notes have been prepared assuming that the Company will continue as a going concern.

For the three-month period ended January 31, 2018, the Company had a net loss of $356. The Company’s ability to continue as a going concern is dependent upon the Company’s ability to generate sufficient revenues to operate profitably or raise additional capital through debt financing and/or through sales of common stock.

Management has funded operations of the Company through the proceeds from an offering pursuant to a Registration Statement on Form S-1 and may raise funds from private placements of restricted securities or the issuance of stock in lieu of cash for payment of services until such time as profitable operations are achieved.

There are no written agreements in place for such funding or issuance of securities and there can be no assurance that such will be available in the future. Management believes that this plan provides an opportunity for the Company to continue as a going concern.

The failure to achieve the necessary levels of profitability or obtain the additional funding would be detrimental to the Company.

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RELIANT SERVICE INC

(A DEVELOPMENT STAGE COMPANY)

NOTES TO FINANCIAL STATEMENTS

January 31, 2018

NOTE 5 - RECENT ACCOUNTING PRONOUNCEMENTS

Recent Accounting Pronouncements

In June 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014- 10 (“ASU2014-10”), Development Stage Entities (Topic 915), Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation. The objective of the amendments in this Update is to improve financial reporting by reducing the cost and complexity associated with incremental reporting requirements for development stage entities. The amendments in this Update also eliminate an exception provided to development stage entities in Topic 810, Consolidation, for determining whether an entity is a variable interest entity on the basis of the amount of investment equity at risk. The amendments related to the elimination of inception-to-date information and the other remaining disclosure requirements of Topic 915 should be applied retrospectively except for the clarification to Topic 275, which shall be applied prospectively.

These amendments are effective for annual reporting periods beginning after December 15, 2014, and interim periods therein. The amendment eliminating the exception to the sufficiency-of-equity-at-risk criterion for development stage entities in paragraph 810-10-15-16 should be applied retrospectively for annual reporting periods beginning after December 15, 2015 and interim periods therein. Early application of each of the amendments is permitted for any annual reporting period or interim period for which the entity’s financial statements have not yet been issued. The Company expects to adopt ASU 2014-10 in the fourth quarter of 2014 and does not expect this adoption to have a material impact on its financial condition, results of operations or cash flows.

In August 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-15 (“ASU 2014-15”), Presentation of Financial Statements-Going Concern (Subtopic 205-40), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. The objective of the amendments in this Update is to provide guidance on determining when and how to disclose going-concern uncertainties in the financial statements. The new standard requires management to perform interim and annual assessments of an entity’s ability to continue as a going concern within one year of the date the financial statements are issued. An entity must provide certain disclosures if “conditions or events raise substantial doubt about the entity’s ability to continue as a going concern.” The ASU applies to all entities and is effective for annual periods ending after December 15, 2016, and interim periods thereafter, with early adoption permitted. The Company is evaluating the impact of ASU 2014-15 on its financial condition, results of operations and cash flows.

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RELIANT SERVICE INC

(A DEVELOPMENT STAGE COMPANY)

NOTES TO FINANCIAL STATEMENTS

January 31, 2018

NOTE 6 – PROPERTY AND EQUIPMENT

Property and equipment consists of the following:

	1/31/2018			7/31/2017
Building	$	11,900		$	11,900
Less accumulated depreciation		(1,595	)		(1,305	)
	$	10,305		$	10,595

Depreciation expense for the three months ended January 31, 2018 and 2017 was $145 and $145, respectively.

NOTE 7 - COMMON STOCK AND ISSUANCE

The Company has authorized 75,000,000 common shares at $0.001 par value, of which 5,015,000 shares are issued and outstanding as of January 31, 2018.

4,000,000 shares were issued to our sole director for $4,000 on July 17, 2015.

1,015,000 shares were issued to 31 independent shareholders on October 28, 2016 pursuant to the company’s Registration Statement on Form S-1. The shares were issued at a per share price of $0.04 per share for total proceeds of $40,600.

NOTE 8 - DEBT

On April 14, 2015 the Director and President of the Company, made the initial deposit to the Company bank account in the amount $100 and is being carried as a loan payable. The loan is non-interest bearing, unsecured and due upon demand.

NOTE 9 - RELATED PARTY TRANSACTIONS

On July 17, 2015, 4,000,000 shares of the Company’s common stock were issued to our sole director for $4,000.

On April 14, 2015 the Director and President of the Company made the initial deposit to the Company bank account in the amount $100. The loan is non-interest bearing, unsecured and due upon demand.

The Company’s sole officer and director is involved in other business activities and may in the future, become involved in other business opportunities as they become available.

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RELIANT SERVICE INC

(A DEVELOPMENT STAGE COMPANY)

NOTES TO FINANCIAL STATEMENTS

January 31, 2018

NOTE 10 – FAIR VALUE MEASUREMENTS AND DISCLOSURE

FASB ASC 820 defines fair value, establishes a framework for measuring fair value, and establishes a hierarchy of fair value inputs. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A fair value liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market. Valuation techniques that are consistent with the market, income or cost approach, as specified by FASB ASC 820, are used to measure fair value.

The fair value hierarchy prioritized the inputs to valuation techniques used to measure fair value into three broad levels:

Level I inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities the Company has the ability to access.

Level II inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.

Level III are unobservable inputs for the asset or liability and rely on management’s own assumptions that market participants would use in pricing the asset or liability. The unobservable inputs should be developed based on the best information available in the circumstances and may include the Company’s own data.

As of January 31, 2018 and 2017, there were no level I, II, or III assets or liabilities.

NOTE 11 – SUBSEQUENT EVENTS

In preparing these financial statements, the company has evaluated events and transactions for potential recognition or disclosure through March 12, 2018, the date the financial statements were issued. There are no subsequent events to be reported.

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ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

A cautionary note regarding forward-looking statements

This report contains forward-looking statements which relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.

Results of Operations

Three Months Ended January 31, 2018 and 2017

We generated $31,843 and $30,083 in revenues for the three months ending January 31, 2018 and 2017, respectively. Our cost of goods sold was $31,118 and $29,181, resulting in a gross profit of $725 and $902, respectively. The difference in the gross revenue was due to the type of cabinets purchased by the client. We incurred operating expenses of $1,144 and $18,422 for the three months ended January 31, 2018 and 2017, respectively. These expenses consisted of general operating expenses, including professional fees, incurred in connection with the day to day operation of our business and the preparation and filing of our periodic reports. An income tax provision of $63 was recorded for the three months ended January 31, 2018. An income tax provision of $2,628 was recorded for January 31, 2017.

Six Months Ended January 31, 2018 and 2017

We generated $62,442 and $67,015 in revenues for the six months ending January 31, 2018 and 2017, respectively. Our cost of goods sold was $60,338 and $59,832, resulting in a gross profit of $2,104 and $7,183, respectively. The difference in the gross revenue was due to the type of cabinets purchased by the client. We incurred operating expenses of $4,987 and $58,116 for the six months ended January 31, 2018 and 2017, respectively. These expenses consisted of general operating expenses, including professional fees, incurred in connection with the day to day operation of our business and the preparation and filing of our periodic reports. For the period ended January 31, 2017 we recorded $38,700 in expense for our private label development.

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An income tax provision of $63 and $7,640 was recorded for January 31, 2018 and 2017, respectively.

On July 17, 2015, we issued 4,000,000 shares of common stock to our sole officer and director. Mr. Augustin purchased the 4,000,000 shares at a purchase price of $0.001 per share, for an aggregate purchase price of $4,000.

The company’s Registration Statement on Form S-1 was declared effective on October 6, 2016. In October 2016 the company sold 1,015,000 shares of common stock to 31 independent shareholders at a price of $0.04 per share for total proceeds of $40,600, pursuant to the Registration Statement.

Our company had 5,015,000 shares of common stock issued and outstanding as of January 31, 2018. During 2015, Stanislav Augustin, our sole officer and director advanced the Company $100 to pay expenses. The loan is an oral contract, bears no interest and is payable on demand. As of January 31, 2018, the company had no accounts receivable, no accounts payable and $100 in a loan payable.

The following table provides selected financial data about our company for the period ended January 31, 2018. For detailed financial information, see the financial statements included in this report.

Balance Sheet Data:	1/31/2018
Cash	$	151
Total assets	$	15,675
Total liabilities	$	100
Stockholder’s equity	$	15,575

We are actively working to advance our business plan. We have generated $342,031 in revenue since inception.

Our 12 month plan of operation includes developing our US business including establishing a sales force team to sell more file cabinet products. If we are able to justify the expense we will buy a small US office and will start US business operations from it, servicing our US clients. Until then we will continue to operate from the Czech Republic office we already have.

Our initial focus is expansion into the US market. The Czech operations will only be expanded once we have sufficient funds from our US operations, which Management estimates to be in 3-5 years.

Liquidity and Capital Resources

Our assets at January 31, 2018 were $15,675 which included $151 in cash, $5,219 in income tax benefit and $10,305 (net) in our office building. Management estimates our current monthly “burn rate” to be $5,000. We will require additional revenues or loans from our director to continue operations.

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Off-Balance Sheet Arrangements

We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our 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

Management maintains “disclosure controls and procedures,” as such term is defined in Rule 13a-15(e) under the Securities Exchange Act of 1934 (the “Exchange Act”), that are designed to ensure that information required to be disclosed in our Exchange Act reports is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission rules and forms, and that such information is accumulated and communicated to management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.

In connection with the preparation of this quarterly report on Form 10-Q, an evaluation was carried out by management, with the participation of the Chief Executive Officer and the Chief Financial Officer, of the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) as of January 31, 2018.

Based on that evaluation, management concluded, as of the end of the period covered by this report, that our disclosure controls and procedures were effective in recording, processing, summarizing, and reporting information required to be disclosed, within the time periods specified in the Securities and Exchange Commission’s rules and forms.

Changes in Internal Controls over Financial Reporting

As of the end of the period covered by this report, there have been no changes in the internal controls over financial reporting during the quarter ended January 31, 2018, that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting subsequent to the date of management’s last evaluation.

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PART II

OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

Our Company is not involved in any material litigation and we are unaware of any threatened material litigation. However, the cabinet industry has had litigation regarding trademarks, patents and other intellectual property rights. In addition, from time to time, we may become involved in litigation relating to claims arising from the ordinary course of our business.

ITEM 1A. RISK FACTORS

Not required under Regulation S-K for “smaller reporting companies.”

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

There were no defaults upon senior securities during the period ended January 31, 2018.

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5. OTHER INFORMATION

None.

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ITEM 6. EXHIBITS

The following exhibits are included with this quarterly filing. Those marked with an asterisk and required to be filed hereunder, are incorporated by reference and can be found in their entirety in our Registration Statement on Form S-1, filed under SEC File Number 333-208934, at the SEC website at www.sec.gov:

Exhibit No.	Description
3.1	Articles of Incorporation*
3.2	Bylaws*
31	Sec. 302 Certification of Chief Executive Officer & Chief Financial Officer
32	Sec. 906 Certification of Principal Executive Officer & Principal Financial Officer
101	Interactive data files pursuant to Rule 405 of Regulation S-T

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized on this 12^th day of March, 2018.

Reliant Service Inc., Registrant
By:	/s/ Stanislav Augustin
	Stanislav Augustin, CEO
	Chief Executive Officer & Chief Financial Officer

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