Nevada |
61-1787148 |
(State or other jurisdiction of incorporation or organization)
|
(I.R.S. Employer Identification No.)
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22 The Cedars Cruagh Wood,
Stepaside, Dublin 18, Ireland
|
|
(Address of principal executive offices)
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(Zip Code)
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Title of each class
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Trading Symbol(s)
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Name of exchange on which registered
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||
Common Shares | ALFC |
OTC |
Large accelerated filer ☐
|
|
Accelerated filer ☐
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Non-Accelerated filer ☒
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Smaller reporting company ☒
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Emerging growth company ☒
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Class
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Outstanding as of November 5, 2019
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|
Common Stock: $0.001
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7,315,000
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Contents
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Page(s)
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Balance Sheets as of September 30, 2019 (unaudited) and December 31, 2018 (audited)
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3
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Statements of Operations for the Three Months Ended September 30, 2019 and 2018 (unaudited)
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4
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Statements of Operations for the Nine Months Ended September 30, 2019 and 2018 (unaudited)
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5
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Statements of Cash Flows for the Nine Months Ended September 30, 2019 and 2018(unaudited)
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6
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Statements of Shareholders Equity for the Nine Months ended September 30, 2019
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7
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Notes to the Financial Statements
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8
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September 30, 2019
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December31, 2018
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|||||||
(unaudited)
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(audited)
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|||||||
ASSETS
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||||||||
Current Assets
|
||||||||
Cash and Cash Equivalents
|
$
|
4,752
|
$
|
6,139
|
||||
Total Current Assets
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4,752
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6,139
|
||||||
Computer Equipment (Net)
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-
|
1,240
|
||||||
Total Assets
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$
|
4,752
|
$
|
7,379
|
||||
LIABILITIES AND STOCKHOLDERS’ EQUITY
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||||||||
Accounts Payable and accrued expenses
|
$
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2,000
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$
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4,250
|
||||
Income Tax Payables
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-
|
-
|
||||||
Due to Related Party
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17,224
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3,224
|
||||||
Total Liabilities
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19,224
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7,474
|
||||||
Stockholders’ Equity
|
||||||||
Common Stock, $0.001 par value, 75,000,000 shares authorized,
|
||||||||
7,315,000 shared issued and outstanding, respectively
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7,315
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7,315
|
||||||
Additional Paid-in Capital
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20,835
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20,835
|
||||||
Retained Earnings (Loss)
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(42,622
|
)
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(28,245
|
)
|
||||
Total Stockholders’ Equity
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(14,472
|
)
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(95
|
)
|
||||
Total Liabilities and Stockholders’ Equity
|
$
|
4,752
|
$
|
7,379
|
September 30, 2019
|
September 30, 2018
|
|||||||
|
||||||||
REVENUE
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$
|
-
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$
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-
|
||||
EXPENSES
|
||||||||
General and Administrative
|
482
|
740
|
||||||
Professional Fees
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3,153
|
3,278
|
||||||
Total Expenses
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3,635
|
4,018
|
||||||
Income (Loss) from Operations
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(3,636
|
)
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(4,018
|
)
|
||||
Income Tax Expense (Recovery)
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-
|
297
|
||||||
Net Income (Loss) After Tax
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$
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(3,635
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)
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$
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(4,315
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)
|
||
Basic and Diluted Net Loss per Common share
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$
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0.00
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$
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0.00
|
||||
Weighted-Average Number of Common Shared Outstanding
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7,315,000
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7,315,000
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September 30, 2019
|
September 30, 2018
|
|||||||
REVENUE
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$
|
-
|
$
|
-
|
||||
EXPENSES
|
||||||||
General and Administrative
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1,841
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12,762
|
||||||
Professional
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12,106
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15,592
|
||||||
Total Expenses
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14,377
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28,354
|
||||||
Income (Loss) from Operations
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(14,377
|
)
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(28,354
|
)
|
||||
Income Tax Expense (Recovery)
|
-
|
331
|
||||||
Net Income (Loss) After Tax
|
$
|
(14,377
|
)
|
$
|
(28,685
|
)
|
||
Basic and Diluted Net Loss per Common share
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$
|
0.00
|
$
|
0.00
|
||||
Weighted-Average Number of Common Shared Outstanding
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7,315,000
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7,315,000
|
September, 2019
|
September 30, 2018
|
|||||||
CASH FLOWS FROM OPERATING ACTIVITES:
|
||||||||
Net Income (Loss)
|
$
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(14,377
|
)
|
$
|
(28,685
|
)
|
||
Depreciation
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1,240
|
1,215
|
||||||
Changes in Operating Assets and Liabilities:
|
||||||||
Accounts Payable and accrued expenses
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(2,250
|
)
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1,202
|
|||||
Income Tax Payable
|
-
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(708
|
)
|
|||||
Net Cash from Operating Activities
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(15,387
|
)
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(26,976
|
)
|
||||
CASH FLOWS FROM FINANCING ACTIVITIES:
|
||||||||
Related Party Note Payable
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14,000
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(250
|
)
|
|||||
Proceeds from Sale of Common Shares
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-
|
-
|
||||||
Net Cash from Financing Activities
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14,000
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(250
|
)
|
|||||
Net Increase (Decrease) in Cash
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(1,387
|
)
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(27,226
|
)
|
||||
Cash, Beginning of Period
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6,139
|
31,643
|
||||||
Cash, End of Period
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$
|
4,752
|
$
|
4,417
|
||||
Supplemental Disclosure of Cash Flow Information
|
||||||||
Cash Paid for:
|
||||||||
Interest
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$
|
-
|
$
|
-
|
||||
Income Taxes
|
-
|
-
|
||||||
Non-cash financing and investing activities:
|
||||||||
Assets acquired for debt and reduction in related partypayable
|
$
|
-
|
$
|
-
|
Common
Stock
|
Amount
|
Additional
Paid-in
Capital
|
Retained
Earnings
(Accumulated
Deficit)
|
Equity
|
||||||||||||||||
Balance at December 31, 2018
|
7,315,000
|
$
|
7,315
|
$
|
20,835
|
$
|
(28,245
|
)
|
$
|
(95
|
)
|
|||||||||
Issuance of Common Shares for Cash
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||
Net Income (Loss)
|
-
|
-
|
-
|
(14,377
|
)
|
(14,377
|
)
|
|||||||||||||
Balance at September 30, 2019
|
7,315,000
|
$
|
7,315
|
$
|
20,835
|
$
|
(42,622
|
)
|
$
|
(14,472
|
)
|
September 30,2019
|
December 31, 2018
|
|||||||
Tools and Equipment
|
$
|
3,240
|
$
|
3,240
|
||||
Less: Accumulated Depreciation
|
(3,240
|
)
|
(2,000
|
)
|
||||
Net
|
$
|
-
|
$
|
1,240
|
September 30, 2019
|
||||
Net Deferred Tax Asset Non-Current:
|
||||
Net Operating Loss Carry-Forward before income taxes
|
$
|
(42,622
|
)
|
|
Income tax rate
|
21
|
%
|
||
Expected Income Tax Benefit from NOL Carry-Forward
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8,951
|
|||
Less: Valuation Allowance
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(8,951
|
)
|
||
Deferred Tax Asset, Net of Valuation Allowance
|
$
|
-
|
September 30, 2019
|
||||
Federal statutory income tax rate
|
|
21.0
|
%
|
|
Increase (reduction) in income tax provision resulting from:
|
||||
Net Operating Loss (NOL) carry-forward
|
(21.0
|
%)
|
||
Effective income tax rate
|
0.0
|
%
|
1.
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Postproduction video editing
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2.
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Inserts for live shows
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3.
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Web videos
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4.
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Corporate videos
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5.
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Presentation videos
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6.
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Promotional Video Production and Video Marketing
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7.
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Full range of post-production services
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1.
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Media & Entertainment companies
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a.
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TV commercials
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b.
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Broadcast programs
|
c.
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Music videos
|
d.
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Documentaries
|
e.
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TV drama
|
f.
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Short films
|
g.
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Feature films
|
2.
|
Video production companies
|
3.
|
Animation and Multimedia companies
|
4.
|
Corporate customers
|
5.
|
YouTube commercial publishers
|
6.
|
Private consumers
|
·
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Expertise
|
·
|
Performance
|
·
|
Flexibility
|
·
|
Price
|
Exhibit
Number
|
|
Description of Exhibit
|
31.1
|
|
Certification of Chief Executive Officer pursuant to section 302 of the Sarbanes-Oxley act of 2002
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31.2 |
Certification of Chief Financial Officer Pursuant To 18 U.S.C. Section 1350 as Adopted Pursuant To Section 302 of the Sarbanes-Oxley Act Of 2002
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32.1
|
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Certification of Chief Executive Officer and Chief Financial Officer Pursuant Section 906 of the Sarbanes-Oxley Act
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101 | Interactve data files pursuant to Rule 405 of Regulation S-T |
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Alfacourse Inc.
|
||
|
|
||
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|
||
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By:
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/s/ Oleg Jitov
|
|
|
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Name: Oleg Jitov
|
|
|
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Title: President, Secretary and Director
|
|
|
|
(Principal Executive, Financial and Accounting Officer)
|