10-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE

ACT OF 1934

For the fiscal year ended AUGUST 31, 2020

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE  ACT OF 1934

For the transition period from ___________ to ___________

COMMISSION FILE NO. 333-228161

UNEX HOLDINGS INC.

 (Exact name of registrant as specified in its charter)

Nevada	98-1353613	8713
(State or Other Jurisdiction of	IRS Employer	Primary Standard Industrial
Incorporation or Organization)	Identification Number	Classification Code Number

Unex Holdings Inc.

Ul. Sveti Kliment Ohridski 27, Apt. 8

Burgas, Bulgaria 8000

Tel. +359-884303333

 (Address and telephone number of registrant's executive office)     

Securities registered pursuant to Section 12(b) of the Act: None

Securities registered pursuant to Section 12(g) of the Act: None

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Indicate by check mark whether the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes [ ] No [X]

Indicate by check mark if the registrant  is not  required  to file  reports  pursuant to Section 13 or Section 15(d) of the Act. Yes [ ] No [X]

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for shorter period that the registrant as required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ]

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K  is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. Yes [ ] No [X]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of "accelerated filer and large accelerated filer" in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer [ ]                     Accelerated filer [ ]

Non-accelerated filer [ ]                       Smaller reporting company [X]

Emerging growth company [X]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act) Yes [X]   No [ ]

As of September 16, 2020, the registrant had 2,970,000 shares of common stock issued and outstanding. No aggregate market value of stock held by non-affiliates has been computed based upon the fact that no active trading market has been established as of September 16, 2020.

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Table of Contents

	Part I
Item 1	Business	4
Item 1a	Risk Factors	5
Item 1b	Unresolved Staff Comments	5
Item 2	Properties	5
Item 3	Legal Proceedings	5
Item 4	Mine Safety Disclosures	5
	Part II
Item  5	Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	5
Item  6	Selected Financial Data	6
Item  7	Management’s Discussion and Analysis of Financial Condition and Results of Operations	6
Item 7a	Quantitative and Qualitative Disclosures About Market Risk	7
Item 8	Financial Statements and Supplementary Data	7
Item 9	Changes in And Disagreements with Accountants on Accounting and Financial Disclosure	16
Item 9a	Controls and Procedures	16
Item 9b	Other Information	16
	Part III
Item 10	Directors, Executive Officers and Corporate Governance	16
Item 11	Executive Compensation	17
Item 12	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	18
Item 13	Certain Relationships and Related Transactions, And Director Independence	18
Item 14	Principal Accountant Fees and Services	18
	Part IV
Item 15	Exhibits and Financial Statement Schedules	18

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PART I

ITEM 1 BUSINESS

FORWARD-LOOKING STATEMENTS

This annual report contains forward-looking statements. These statements relate to future events or our future financial performance. These statements often can be identified by the use of terms such as "may," "will," "expect," "believe," "anticipate," "estimate," "approximate" or "continue," or the negative thereof. We intend that such forward-looking statements be subject to the safe harbors for such statements. We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management's best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events.

As used in this annual report, the terms "we", "us", "our", "the Company", mean Unex Holdings Inc., unless otherwise indicated.

All dollar amounts refer to US dollars unless otherwise indicated.

Unex Holdings Inc. was incorporated in the State of Nevada on February 17, 2017 and established the fiscal year end of August 31. We have no revenues, have minimal assets and have incurred losses since inception. We were formed to provide geodesy services, and we are still in the development stage. Our business office is located at Ul. Sveti Kliment Ohridski 27, Apt. 8, Burgas, Bulgaria 8000. Our telephone number is +359-884303333.

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ITEM 1A. RISK FACTORS

Not applicable.

ITEM 1B. UNRESOLVED STAFF COMMENTS

None.

ITEM 2. PROPERTIES

We do not own any property.

ITEM 3. LEGAL PROCEEDINGS

We are not currently involved in any legal proceedings and we are not aware of any pending or potential legal actions.

ITEM 4. MINE SAFETY DISCLOSURES

No report required.

PART II

ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

MARKET INFORMATION

As of August 31, 2020, the 2,970,000 issued and outstanding shares of common stock were held by a total of 28 shareholders of record.

DIVIDENDS

We have never paid or declared any dividends on our common stock and do not anticipate paying cash dividends in the foreseeable future.

SECURITIES AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLANS

We currently do not have any equity compensation plans.

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ITEM 6. SELECTED FINANCIAL DATA

Not Applicable.

ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion should be read in conjunction with our financial statements, including the notes thereto, appearing elsewhere in this annual report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs.  Our actual results could differ materially from those discussed in the forward-looking statements.  Factors that could cause or contribute to such differences include but are not limited to those discussed below and elsewhere in this Annual Report.  Our audited financial statements are stated in United States Dollars and are prepared in accordance with United States Generally Accepted Accounting Principles.

RESULTS OF OPERATIONS

Year ended August 31, 2020 compared to year ended  August 31, 2019

Operating Expenses

During year ended August 31, 2020, we incurred $14,364 general and administrative expenses compared to $15,703 during year ended  August 31, 2019. The expenses decreased due to reduction in professional and banking fees for the year ended August 31, 2020 General and administrative expenses incurred generally related to corporate overhead, financial and administrative contracted services, such as legal and accounting and developmental costs. During year ended August 31, 2020, expenses are consisted of accounting fees of $10,750, legal fees of $949, transfer agent fees of $1,317, bank charges of $100, depreciation of $317 and other miscellaneous expenses of $931.

Net Loss

Our net loss for the year ended August 31, 2020 was $14,364 compared to net loss of $15,703 during year ended August 31, 2019.

LIQUIDITY AND CAPITAL RESOURCES

As of August 31, 2020

As of August 31, 2020 our total assets were $6,019 compared to $18,200 in total assets on August 31, 2019. As of August 31, 2020 our total current liabilities were $11,400 compared to $9,217 in total liabilities on August 31, 2019.

Stockholders’ deficit was $5,381as of August 31, 2020 compared to Stockholders’ equity of $8,983 as of August 31, 2019.

Cash Flows from Operating Activities

For the year ended August 31, 2020, cash flows used by operating activities was $12,014 consisting of a net loss of $14,364, subscription receivable of $1,800, accounts payable of $233 and amortization of $317. Net cash flows provided by operating activities was $17,213 for year ended August 31, 2019 consisting of a net loss of $15,703, subscription receivable of $1,800 and amortization of $290.

Cash flows from Investing Activities

For the year ended August 31, 2019, cash flow used in investing activities was $950 compared to $0 for the year ended August 31, 2020. During the year ended August 31, 2019, the Company purchased computer equipment to make operations more efficient.

Cash Flows from Financing Activities

We have financed our operations primarily from either advancements or the issuance of equity instruments. For the year ended August 31, 2020 net cash provided by financing activities was $1,950 received from proceeds from issuance of Common stock compared to $21,000 for the year August 31, 2019.

PLAN OF OPERATION AND FUNDING

We expect that working capital requirements will continue to be funded through a combination of our existing funds and further issuances of securities. Our working capital requirements are expected to increase in line with the growth of our business.

Existing working capital, further advances and debt instruments, and anticipated cash flow are expected to be adequate to fund our operations over the next twelve  months. We have no lines of credit or other bank financing arrangements. Generally, we have financed operations to date through the proceeds of the private placement of equity and debt instruments. In connection with our business plan, management anticipates additional increases in operating expenses and capital expenditures relating to: (i) developmental expenses associated with a start-up business and (ii) marketing expenses. We intend to finance these expenses with further issuances of securities, and debt issuances. Thereafter, we expect we will need to raise additional capital and generate revenues to meet long-term operating requirements. Additional issuances of equity or convertible debt securities will result in dilution to our current shareholders. Further, such securities might have rights, preferences or privileges senior to our common stock. Additional financing may not be available upon acceptable terms, or at all. If adequate funds are not available or are not available on acceptable terms, we may not be able to take advantage of prospective new business endeavors or opportunities, which could significantly and materially restrict our business  operations.

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MATERIAL COMMITMENTS

As of the date of this Annual Report, we do not have any material commitments.

PURCHASE OF SIGNIFICANT EQUIPMENT

We do not intend to purchase any significant equipment during the next twelve months.

OFF-BALANCE SHEET ARRANGEMENTS

As of the date of this Annual Report, 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 are material to investors.

GOING CONCERN

The independent auditors' report accompanying our August 31, 2020 and August 31, 2019 financial statements contain an explanatory paragraph expressing substantial doubt about our ability to continue as a going concern. The financial statements have been prepared "assuming that we will continue as a going concern," which contemplates that we will realize our assets and satisfy our liabilities and commitments in the ordinary course of business. These financial statements do not include any adjustments related to the recovery or classification of assets or the amounts and classifications of liabilities that might be necessary should the company be unable to continue as going concern.

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not applicable.

 ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA                

Report of Independent Registered Public Accounting Firm	F-1
Balance Sheets as of August 31, 2020 and August 31, 2019	F-2
Statements of Operations for the years ended August 31, 2020 and August 31, 2019	F3
Statements of Changes in Stockholders’ Equity (deficit) for years ended August 31, 2020 and August 31, 2019.	F-4
Statements of Cash Flows for the years ended August 31, 2020   and August 31, 2019	F-5
Notes to the Financial Statements	F-6

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PLS CPA, A PROFESSIONAL CORP.

t 4725 MERCURY STREET #210 t SAN DIEGO t CALIFORNIA 92111t

t TELEPHONE (858)722-5953 t FAX (858) 761-0341  t FAX (858) 764-5480

t E-MAIL changgpark@gmail.comt

Report of Independent Registered Public Accounting Firm

To the Board of Directors and Stockholders

Unex Holdings, Inc., Inc.

Opinion on the Financial Statements

We have audited the accompanying balance sheets of Unex Holdings, Inc (the “Company”) as of August 31, 2020 and 2019, the related statements of operations, changes in shareholders' deficit, and cash flows for the years then ended and the related notes to the financial statements (collectively, the financial statements). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of August 31, 2020 and 2019, and the results of its operations and its cash flows for the years ended August 31, 2020 and 2019, in conformity with accounting principles generally accepted in the United States of America.

 Going ConcernThe accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the financial statements, the Company has not generated any revenue and further losses are anticipated. The Company requires additional funds to meet its obligations and its operations. These factors raise substantial doubt about the Company’s ability to continue as a going concern. Management’s plans in this regard are described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

 Basis for OpinionThese financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/PLS CPA

____________________

PLS CPA, A Professional Corp.

We have served as the Company’s auditor since 2018.

September 16, 2020

San Diego, CA. 92111

F1

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UNEX HOLDINGS INC. BALANCE SHEETS
		AUGUST 31, 2020	AUGUST 31, 2019
ASSETS
Current Assets
	Cash	$        5,676	$       15,740
	Subscription receivable	-	1,800
	Total current assets	5,676	17,540
Non-Current assets
	Equipment net of depreciation	343	660
	Total non-current assets	343	660
Total Assets		$        6,019	$        18,200
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current  Liabilities
	Loan from related parties	$           9,217	$       9,217
	Stock refund payable	1,950	-
	Accounts payable	233	-
	Total current liabilities	11,400	9,217
Total Liabilities		11,400	9,217
Stockholders’ Equity
	Common stock, $0.001 par value, 75,000,000 shares authorized:
	2,970,000 shares issued and outstanding	2,970	2,970
	Additional Paid-In-Capital	22,730	22,730
	Accumulated Deficit	(31,081)	(16,717)
Total Stockholders’ Equity		(5,381)	8,983
Total Liabilities and Stockholders’ Equity		$     6,019	$        18,200

The accompanying notes are an integral part of these audited financial statements.

F-2

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UNEX HOLDINGS INC. STATEMENTS OF OPERATIONS
	Year ended August 31, 2020	Year ended August 31, 2019
Operating expenses
General and administrative expenses	$               14,364	$                15,703
Loss before provision for income taxes	(14,364)	(15,703)
Provision for income taxes	-	-
Net loss	$            (14,364)	$             (15,703)
Loss per common share:  Basic and Diluted	$                (0.00)	(0.01)
Weighted Average Number of Common Shares  Outstanding: Basic and Diluted	2,993,429	2,439,095

The accompanying notes are an integral part of these audited financial statements.

F-3

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UNEX HOLDINGS INC. STATEMENT OF CHANGES IN STOCKHOLDER’S EQUITY FOR THE YEARS ENDED AUGUST 31, 2019 AND TO AUGUST 31, 2020
	Number of Common Shares	Amount	Additional Paid-in-Capital	Deficit accumulated	Total
Balances as of August 31, 2018	2,270,000	$     2,270	$    2,430	$ (1,014)	$  3,686
Shares issued at $0.03	700,000	700	20,300	-	20,300
Net loss	-	-	-	(15,703)	(15,703)
Balances as of August 31, 2019	2,970,000	2,970	22,730	(16,717)	8,983
Shares issued at $0.03	65,000	65	1,885	-	1,950
Shares canceled	(65,000)	(65)	(1,885)	-	(1,950)
Net loss	-	-	-	(14,364)	(14,364)
Balance as of August 31, 2020	2,970,000	$  2,970	$  22,730	$   (31,081)	$   (5,381)

The accompanying notes are an integral part of these audited financial statements.

F-4

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UNEX HOLDINGS INC. STATEMENTS OF CASH FLOWS
				Year ended August 31, 2020	Year ended August 31, 2019
Cash flows from Operating Activities
		Net loss		$      (14,364)	$        (15,703)
		Amortization expenses		317	290
		Subscription Receivable		1,800	(1,800)
		Accounts payable		233	-
		Net cash used in operating activities		(12,014)	(17,213)
Cash flow from Investing Activities
		Purchase of equipment		-	(950)
		Net cash used by investing activities		-	(950)
Cash flow from financing Activities
			Proceeds from sale of common stock	1,950	21,000
			Proceeds of loan from shareholder	-	-
		Net cash provided financing activities		1,950	21,000
Net increase (decrease) in cash and equivalents				(10,064)	2,837
Cash at beginning of the period				15,740	12,903
Cash at end of the period				$        5,676	$           15,740
		Supplemental cash flow information:
		Cash paid for:
		Interest		$                 -	$               -
		Taxes		$                 -	$               -
Supplemental disclosure of non-cash investing and financing information:
	Repurchase of common stock for refund payable			$     1,950		$                 -

The accompanying notes are an integral part of these audited financial statements.

F-5

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UNEX HOLDINGS INC.

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED AUGUST 31, 2020 AND 2019

NOTE 1 – ORGANIZATION AND BUSINESS

UNEX HOLDINGS INC. (the “Company”) is a corporation established under the corporation laws in the State of Nevada on February 17, 2017. The Company has adopted the August 31 fiscal year- end.

The Company is a development stage company and intends to provide geodesy services.

NOTE 2 – GOING CONCERN

The Company’s financial statements as of August 31, 2020, is prepared using generally accepted accounting principles in the United States of America applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. The Company has accumulated loss from inception (February 17, 2017) to August 31, 2020 of $31,081. These factors among others raise substantial doubt about the ability of the company to continue as a going concern for a reasonable period of time.  

In order to continue as a going concern, the Company will need, among other things, additional capital resources. The management’s plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking third party equity and/or debt financing. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. These financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America.

Use of Estimates

Preparing financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. Actual results and outcomes may differ from management’s estimates and assumptions.

F-6

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Advertising Costs

The Company’s policy regarding advertising is to expense advertising when incurred. The Company did not incur advertising expenses during the period ended August 31, 2020.

Stock-Based Compensation

As of AUGUST 31, 2020, the Company has not issued any stock-based payments to its employees.

Stock-based compensation is accounted for at fair value in accordance with ASC 718, when applicable.  To date, the Company has not adopted a stock option plan and has not granted any stock options.

Income Taxes

The Company follows the liability method of accounting for income taxes.  Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences). A valuation allowance related to a deferred tax asset is recorded when it is more likely than not that some portion of the deferred tax asset will not be realized. The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

Property and Equipment Depreciation Policy

Property and equipment are stated at cost and depreciated on the straight-line method over the estimated life of the asset, which is 3 years.

New Accounting Pronouncements

There were various accounting standards and interpretations issued recently, none of which are expected to have a material impact on our financial position, operations, or cash flows.

Start-Up Costs

In accordance with ASC 824, “Start-up Costs”, the company expenses all costs incurred in connection with the start-up and organization of the company.

Fair Value Measurements

The company adopted the provisions of ASC Topic 820, “Fair Value Measurements and Disclosures”, which defines fair value as used in numerous accounting  pronouncements, establishes a framework for measuring fair value and expands disclosure of fair value measurements.

The estimated fair value of certain financial instruments, including cash and cash equivalents are carried at a historical cost basis, which approximates their fair values because of the short-term nature of these instruments.

ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes nine levels of inputs that may be used to measure fair value:

Level 1 — quoted prices in active markets for identical assets or liabilities

Level 2 — quoted prices for similar assets and liabilities in active markets or inputs that are observable

Level 3 — inputs that are unobservable (for example cash flow modeling inputs based on assumptions)

The company has no assets or liabilities valued at fair value on a recurring basis.

F-7

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NOTE 4 – FIXED ASSETS

On September 24, 2018, the company purchased a computer for $950. For the years ended August 31, 2020 and 2019, the Company recognized $317 and $290 in depreciation expense, respectively. The Company depreciates this asset over a period of thirty-nine (36) months which has been deemed its useful life.

NOTE 5 – STOCKHOLDERS EQUITY

The Company has 75,000,000 shares of common stock authorized with a par value of $0.001 per share.

For the year ended August 31, 2020, the Company issued 65,000 common stock at $0.03 per share for the total proceeds of $1,950. For the year ended August 31, 2020, the Company canceled 65,000 of its common stock and accrued a stock refund payable of $1,950.

As of August 31, 2020 and 2019, the Company had 2,970,000 and 2,970,000 shares issued and outstanding, respectively.

NOTE 6 – RELATED PARTY TRANSACTIONS

In support of the Company’s efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by officers, directors, or shareholders. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances are considered temporary in nature and have not been formalized by a promissory note.  

Since February 17, 2017 (Inception) through August 31, 2020, the Company’s sole officer and director loaned the Company $9,217 to pay for incorporation costs and operating expenses.  The loan is non-interest bearing, due upon demand and unsecured.

NOTE 7. INCOME TAXES

On August 31, 2020, the Company had a net operating loss carryforward of $31,081, which begins to expire in the fiscal year ending August 31, 2020. Components of net deferred tax asset, including a valuation allowance, are as follows on August 31, 2020 and August 31, 2019:

Deferred tax asset:	AUGUST 31, 2020	AUGUST 31, 2019
Net operating loss carryforward	$    6,527	$	3,510
Total deferred tax asset	6,527		3,510
Less: Valuation allowance	(6,527)		(3,510)
Net deferred tax asset	$     -	$	-

The valuation allowance for deferred tax assets as of August 31, 2020 was $6,527. In assessing the recovery of the deferred tax asset, management considers whether it is more likely than not that some or all of the deferred tax asset will not be realized. The realization of the deferred tax assets is dependent upon the generation of future taxable income in the periods in which those temporary differences become deductible. Management considers scheduled reversals of future deferred tax assets, projected future taxable income, and tax planning strategies in making this assessment. As a result, management determined it was more likely than not that our deferred tax asset will not be realized and recorded a 100% valuation allowance for the period.

Reconciliation between statutory rate and the effective tax rate for the periods ending August 31, 2020 and 2019:

	AUGUST 31, 2020				AUGUST 31, 2019
Federal statutory rate	(21.0)	%			(21.0)		%
State taxes, net of federal benefit	(0.00)	%			(0.00)		%
Change in valuation allowance	21.0	%			21.0		%
Effective tax rate	0.0		%	0.0		%

NOTE 8. SUBSEQUENT EVENTS

The Company has evaluated all events that occurred after the balance sheet date of August 31, 2020 through the date these financial statements were issued and determined that there were the following subsequent events.

F-8

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ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

None.

ITEM 9A. CONTROLS AND PROCEDURES

Our management is responsible for establishing and maintaining a system of disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act) that is designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer’s management, including its principal executive officer or officers and principal financial officer or officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

An evaluation was conducted under the supervision and with the participation of our management of the effectiveness of the design and operation of our disclosure controls and procedures as of August 31, 2020. Based on our management’s evaluation under the framework in Internal Control-Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission, our management concluded that our disclosure controls and procedures were not effective as of such date to ensure that information required to be disclosed in the reports that we file or submit under the Exchange Act, is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms.

 A material weakness is a control deficiency, or combination of control deficiencies, such that there is a reasonable possibility that a material misstatement of the annual or interim financial statements will not be prevented or detected on a timely basis.  We have identified a lack of segregation of duties, a lack of audit committee or independent governance/oversight, and timely communication with vendors to obtain invoices and record expenses and liabilities as material weaknesses in our internal controls over financial reporting as of the end of the fiscal year ended August 31, 2020.

Such officer also confirmed that there was no change in our internal control over financial reporting during the year August 31, 2020 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

ITEM 9B. OTHER INFORMATION

None.

PART III

ITEM 10.  DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

The name, age and titles of our executive officer and director are as follows:

Name and Address of Executive Officer and/or Director	Age	Position
Veniamin Minkov Ul. Sveti Kliment Ohridski 27, Apt. 8 Burgas, Bulgaria 8000	31	President, Treasurer, Secretary and Director (Principal Executive, Financial and Accounting Officer)

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Our Director Veniamin Minkov:

Held his offices/positions since the inception of our Company and is expected to hold said offices/positions until the next annual meeting of our stockholders. The officers listed are our only officers and control persons.

Veniamin Minkov has acted as our President, Treasurer, Secretary and Director since our incorporation on February 17, 2017. Mr. Minkov graduated from Burgas Free University (Burgas, Bulgaria) in 2013 with a bachelor’s degree in marketing. Since graduation, he has been working as a sole proprietor in the beverage distribution business. Mr. Minkov has never been in default with the bank or government and does not have any pending litigations or claims.

Mr. Minkov owns 68.72% of the outstanding shares of our common stock. As such, it was unilaterally decided that Mr. Minkov was going to be our President, Chief Executive Officer, Treasurer, Secretary, Chief Financial Officer, Chief Accounting Officer and sole member of our board of directors. This decision did not in any manner relate to Mr. Minkov’s previous employments. Mr. Minkov’s and previous experience, qualifications, attributes or skills were not considered when he was appointed as our President, Chief Executive Officer, Treasurer, Chief Financial Officer, Chief Accounting Officer, Secretary and member of our board of directors.

AUDIT COMMITTEE

We do not have an audit committee or audit committee financial expert. We do not have an audit committee financial expert because we believe the cost related to retaining a financial expert at this time is prohibitive. Further, because we have limited operations, at the present time, we believe the services of a financial expert are not warranted.

SIGNIFICANT EMPLOYEES

Other than our director, we do not expect any other individuals to make a significant contribution to our business.

ITEM 11. EXECUTIVE COMPENSATION

The following tables set forth certain information about compensation paid, earned or accrued for services by our Executive Officer for the years ended AUGUST 31, 2019  and AUGUST 31, 2020:

Summary Compensation Table

Name and Principal Position	Period	Salary ($)	Bonus ($)	Stock Awards ($)	Option Awards ($)	Non-Equity Incentive Plan Compensation ($)	All Other Compensation ($)	All Other Compensation ($)	Total ($)
Veniamin Minkov, President, Secretary and Treasurer	September 1, 2018 to August 31, 2019	-0-	-0-	-0-	-0-	-0-	-0-	-0-	-0-
	September 1, 2019 to August 31, 2020	-0-	-0-	-0-	-0-	-0-	-0-	-0-	-0-

There are no current employment agreements between the company and its officer.

There are no annuity, pension or retirement benefits proposed to be paid to the officer or director or employees in the event of retirement at normal retirement date pursuant to any presently existing plan provided or contributed to by the company or any of its subsidiaries, if any.

CHANGE OF CONTROL

As of August 31, 2020, we had no pension plans or compensatory plans or other arrangements which provide compensation in the event of a termination of employment or a change in our control.

17 | Page

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

The following table sets forth information as of August 31, 2020 regarding the ownership of our common stock by each shareholder known by us to be the beneficial owner of more than five percent of our outstanding shares of common stock, each director and all executive officers and directors as a group. Except as otherwise indicated, each of the shareholders has sole voting and investment power with respect to the shares of common stock beneficially owned.

Title of Class	Name and Address of Beneficial Owner	Amount and Nature of Beneficial Ownership	Percent of class
Common Stock	Veniamin Minkov Ul. Sveti Kliment Ohridski 27, Apt. 8  Burgas, Bulgaria 8000	2,000,000 shares of common stock (direct)	67.34%

The percent of class is based on 2,970,000 shares of common stock issued and outstanding as of August 31, 2020.

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

The Company issued a total of 2,000,000 shares of restricted common stock to Veniamin Minkov, our sole officer and director in consideration of $2,000.  Since February 17, 2017 (Inception) through August 31, 2020, the Company’s sole officer and director loaned the Company $9,217 to pay for incorporation costs and operating expenses.  The loan is non-interest bearing, due upon demand and unsecured.

ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES

The following table presents the fees for professional audit services rendered by PLS CPA, a professional corporation (“PLS”) for the audit of the Company’s annual financial statements for the fiscal years ended August 31, 2020 and August 31, 2019 and fees billed for other services rendered by PLS during those periods. All services reflected in the following fee table were pre-approved, respectively, in accordance with the policy of the Board.

		August 31, 2020		August 31, 2019
Audit fees (1)	$	10,000	$	11,500
Audit-related fees		-		-
Tax fees		-		-
All other fees		-		-
Total Fees	$	10,000	$	11,500

Notes:

⁽¹⁾

Audit fees consist of audit and review services, consent and review of documents filed with the SEC. For fiscal years ended August 31, 2020 and August 31, 2019, respectively.

In its capacity, the Board pre-approves all audit (including audit-related) and permitted non-audit services to be performed by the independent auditors. The Board will annually approve the scope and fee estimates for the year-end audit to be performed by the Company’s independent auditors for the fiscal year. With respect to other permitted services, the Board pre-approves specific engagements, projects and categories of services on a fiscal year basis, subject to the individual project and annual maximums. To date, the Company has not engaged its auditors to perform any non-audit related services.

ITEM 15. EXHIBITS

The following exhibits are filed as part of this Annual Report.

31.1 Certification of Chief Executive Officer and Chief Financial Officer pursuant to Securities Exchange Act of 1934 Rule 13a-14(a) or 15d-14(a)

32.1 Certifications pursuant to Securities Exchange Act of 1934 Rule 13a-14(b) or 15d-14(b) and 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes- Oxley Act of 2002

101.INS  XBRL Instance Document

101.SCH XBRL Taxonomy Extension Schema Document

101.CAL XBRL Taxonomy Extension Calculation Linkbase Document

101.DEF XBRL Taxonomy Extension Definition Document

101.LAB XBRL Taxonomy Extension Label Linkbase Document

101.PRE XBRL Taxonomy Extension Presentation Linkbase Document

18 | Page

SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	UNEX HOLDINGS INC.
Dated: September 16, 2020	By: /s/ Veniamin Minkov
	Veniamin Minkov, President and Chief Executive Officer and Chief Financial Officer

19 | Page

EX-31.1

Exhibit 31.1

Certification of Chief Executive Officer pursuant to Securities Exchange

Act of 1934 Rule 13a-14(a) or 15d-14(a).

I, Veniamin Minkov, certify that:

1. I have reviewed this Annual Report on Form 10-K of  UNEX HOLDINGS, INC.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and we have:

a)	designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b)	designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c)	evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
d)	disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5.	The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
a)	all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
b)	any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
September 16, 2020                                             By:		/S/  Veniamin Minkov
		Name:         Veniamin Minkov
Title:             President and                                                                                              Chief Executive Officer and Chief Financial Officer

EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report of UNEX HOLDINGS, INC (the “Company”) on Form 10-K for the year ended August 31, 2020, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Veniamin Minkov, Chief Executive Officer and Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.

 September 16, 2020                                  By:       S/Veniamin Minkov

                                                                Name:                      Veniamin Minkov

                                                                Title:                           President and Chief Executive Officer and Chief Financial Officer
 

XML

Document and Entity Information - USD ($)	12 Months Ended
	Aug. 31, 2020	Sep. 16, 2020
Document and Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Aug. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Registrant Name	UNEX HOLDINGS INC.
Entity Central Index Key	0001700844
Current Fiscal Year End Date	--08-31
Entity Filer Category	Non-accelerated Filer
Entity Public Float		$ 0
Entity Common Stock, Shares Outstanding		2,970,000
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	No
Entity Shell Company	true
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true

XML

BALANCE SHEETS - USD ($)	Aug. 31, 2020	Aug. 31, 2019
Current Assets
Cash	$ 5,676	$ 15,740
Subscription receivable	0	1,800
Total current assets	5,676	17,540
Non-Current assets
Equipment net of depreciation	343	660
Total non-current assets	343	660
Total Assets	6,019	18,200
Current Liabilities
Loan from related parties	9,217	9,217
Stock refund payable	1,950	0
Accounts payable	233	0
Total current liabilities	11,400	9,217
Total Liabilities	$ 11,400	$ 9,217
Stockholders' Equity
Common stock, $0.001 par value, 75,000,000 shares authorized: 2,970,000 shares issued and outstanding	2,970	2,970
Additional Paid-In-Capital	$ 22,730	$ 22,730
Accumulated Deficit	(31,081)	(16,717)
Total Stockholders' Equity	(5,381)	8,983
Total Liabilities and Stockholders' Equity	$ 6,019	$ 18,200

XML

BALANCE SHEETS (Parenthetical) - shares	Aug. 31, 2020	Aug. 31, 2019
Statement of Financial Position [Abstract]
Common stock 2,970,000 shares issued and outstanding	2,970,000	2,970,000

XML

STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019
Operating expenses
General and administrative expenses	$ 14,364	$ 15,703
Loss before provision for income taxes	(14,364)	(15,703)
Provision for income taxes	0	0
Net loss	$ (14,364)	$ (15,703)
Loss per common share: Basic and Diluted	$ (0.00)	$ (0.01)
Weighted Average Number of Common Shares Outstanding: Basic and Diluted	2,993,429	2,439,095

XML

STATEMENT OF CHANGES IN STOCKHOLDER'S EQUITY - 12 months ended Aug. 31, 2020 - USD ($)	Total	Number of Common Shares	Additional Paid-in-Capital	Deficit accumulated
Balances at Aug. 31, 2019	$ 8,983	$ 2,970	$ 22,730	$ (16,717)
Balances (in shares) at Aug. 31, 2019		2,970,000
Shares issued	1,950		1,885
Shares issued (in shares)		$ 65,000
Shares canceled	(1,950)	(65)	(1,885)
Shares canceled (in shares)		$ (65,000)
Net loss	$ (14,364)			(14,364)
Balance at Aug. 31, 2020	$ (5,381)	$ 2,970	$ 22,730	$ (31,081)
Balance (in shares) at Aug. 31, 2020		2,970,000

XML

STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019
Cash flows from Operating Activities
Net loss	$ (14,364)	$ (15,703)
Amortization expenses	317	290
Subscription Receivable	1,800	(1,800)
Accounts payable	233	0
Net cash used in operating activities	(12,014)	(17,213)
Cash flow from Investing Activities
Purchase of equipment	0	(950)
Net cash used by investing activities	0	(950)
Cash flow from financing Activities
Proceeds from sale of common stock	1,950	21,000
Proceeds of loan from shareholder	0	0
Net cash provided financing activities	1,950	21,000
Net increase (decrease) in cash and equivalents	(10,064)	2,837
Cash at beginning of the period	15,740	12,903
Cash at end of the period	5,676	15,740
Cash paid for:
Interest	0	0
Taxes	0	0
Supplemental disclosure of non-cash investing and financing information:
Repurchase of common stock for refund payable	$ 1,950	$ 0

XML

- ORGANIZATION AND BUSINESS

12 Months Ended

Aug. 31, 2020

- ORGANIZATION AND BUSINESS [Abstract]

- ORGANIZATION AND BUSINESS

NOTE 1 - ORGANIZATION AND BUSINESS

UNEX HOLDINGS INC. (the “Company”) is a corporation established under the corporation laws in the State of Nevada on February 17, 2017. The Company has adopted the August 31 fiscal year- end.

The Company is a development stage company and intends to provide geodesy services.

XML

- GOING CONCERN

12 Months Ended

Aug. 31, 2020

- GOING CONCERN [Abstract]

- GOING CONCERN

NOTE 2 - GOING CONCERN

The Company's financial statements as of August 31, 2020, is prepared using generally accepted accounting principles in the United States of America applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. The Company has accumulated loss from inception (February 17, 2017) to August 31, 2020 of $31,081. These factors among others raise substantial doubt about the ability of the company to continue as a going concern for a reasonable period of time. 

In order to continue as a going concern, the Company will need, among other things, additional capital resources. The management's plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking third party equity and/or debt financing. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. These financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

XML

- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Aug. 31, 2020

- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America.

Use of Estimates

Preparing financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. Actual results and outcomes may differ from management's estimates and assumptions.

F-6

Advertising Costs

The Company's policy regarding advertising is to expense advertising when incurred. The Company did not incur advertising expenses during the period ended August 31, 2020.

Stock-Based Compensation

As of AUGUST 31, 2020, the Company has not issued any stock-based payments to its employees.

Stock-based compensation is accounted for at fair value in accordance with ASC 718, when applicable.  To date, the Company has not adopted a stock option plan and has not granted any stock options.

Income Taxes

The Company follows the liability method of accounting for income taxes.  Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences). A valuation allowance related to a deferred tax asset is recorded when it is more likely than not that some portion of the deferred tax asset will not be realized. The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

Property and Equipment Depreciation Policy

Property and equipment are stated at cost and depreciated on the straight-line method over the estimated life of the asset, which is 3 years.

New Accounting Pronouncements

There were various accounting standards and interpretations issued recently, none of which are expected to have a material impact on our financial position, operations, or cash flows.

Start-Up Costs

In accordance with ASC 824, “Start-up Costs”, the company expenses all costs incurred in connection with the start-up and organization of the company.

Fair Value Measurements

The company adopted the provisions of ASC Topic 820, “Fair Value Measurements and Disclosures”, which defines fair value as used in numerous accounting  pronouncements, establishes a framework for measuring fair value and expands disclosure of fair value measurements.

The estimated fair value of certain financial instruments, including cash and cash equivalents are carried at a historical cost basis, which approximates their fair values because of the short-term nature of these instruments.

ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes nine levels of inputs that may be used to measure fair value:

Level 1 - quoted prices in active markets for identical assets or liabilities

Level 2 - quoted prices for similar assets and liabilities in active markets or inputs that are observable

Level 3 - inputs that are unobservable (for example cash flow modeling inputs based on assumptions)

The company has no assets or liabilities valued at fair value on a recurring basis.

F-7

XML

- FIXED ASSETS

12 Months Ended

Aug. 31, 2020

- FIXED ASSETS [Abstract]

- FIXED ASSETS

NOTE 4 - FIXED ASSETS

On September 24, 2018, the company purchased a computer for $950. For the years ended August 31, 2020 and 2019, the Company recognized $317 and $290 in depreciation expense, respectively. The Company depreciates this asset over a period of thirty-nine (36) months which has been deemed its useful life.

XML

- STOCKHOLDERS EQUITY

12 Months Ended

Aug. 31, 2020

- STOCKHOLDERS EQUITY [Abstract]

- STOCKHOLDERS EQUITY

NOTE 5 - STOCKHOLDERS EQUITY

The Company has 75,000,000 shares of common stock authorized with a par value of $0.001 per share.

For the year ended August 31, 2020, the Company issued 65,000 common stock at $0.03 per share for the total proceeds of $1,950. For the year ended August 31, 2020, the Company canceled 65,000 of its common stock and accrued a stock refund payable of $1,950.

As of August 31, 2020 and 2019, the Company had 2,970,000 and 2,970,000 shares issued and outstanding, respectively.

XML

- RELATED PARTY TRANSACTIONS

12 Months Ended

Aug. 31, 2020

- RELATED PARTY TRANSACTIONS [Abstract]

- RELATED PARTY TRANSACTIONS

NOTE 6 - RELATED PARTY TRANSACTIONS

In support of the Company's efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by officers, directors, or shareholders. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances are considered temporary in nature and have not been formalized by a promissory note. 

Since February 17, 2017 (Inception) through August 31, 2020, the Company's sole officer and director loaned the Company $9,217 to pay for incorporation costs and operating expenses.  The loan is non-interest bearing, due upon demand and unsecured.

XML

INCOME TAXES

12 Months Ended

Aug. 31, 2020

INCOME TAXES [Abstract]

INCOME TAXES

NOTE 7. INCOME TAXES

On August 31, 2020, the Company had a net operating loss carryforward of $31,081, which begins to expire in the fiscal year ending August 31, 2040. Components of net deferred tax asset, including a valuation allowance, are as follows on August 31, 2020 and August 31, 2019:

Deferred tax asset:	AUGUST 31, 2020	AUGUST 31, 2019
Net operating loss carryforward	$    6,527	$	3,510
Total deferred tax asset	6,527		3,510
Less: Valuation allowance	(6,527)		(3,510)
Net deferred tax asset	$     -	$	-

Reconciliation between statutory rate and the effective tax rate for the periods ending August 31, 2020 and 2019:

	AUGUST 31, 2020				AUGUST 31, 2019
Federal statutory rate	(21.0)	%			(21.0)		%
State taxes, net of federal benefit	(0.00)	%			(0.00)		%
Change in valuation allowance	21.0	%			21.0		%
Effective tax rate	0.0		%	0.0		%

XML

SUBSEQUENT EVENTS

12 Months Ended

Aug. 31, 2020

SUBSEQUENT EVENTS [Abstract]

SUBSEQUENT EVENTS

NOTE 8. SUBSEQUENT EVENTS

The Company has evaluated all events that occurred after the balance sheet date of August 31, 2020 through the date these financial statements were issued and determined that there were the following subsequent events.

F-8

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

None.

ITEM 9A. CONTROLS AND PROCEDURES

Our management is responsible for establishing and maintaining a system of disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act) that is designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission's rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer's management, including its principal executive officer or officers and principal financial officer or officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

An evaluation was conducted under the supervision and with the participation of our management of the effectiveness of the design and operation of our disclosure controls and procedures as of August 31, 2020. Based on our management's evaluation under the framework in Internal Control-Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission, our management concluded that our disclosure controls and procedures were not effective as of such date to ensure that information required to be disclosed in the reports that we file or submit under the Exchange Act, is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms.

XML

Significant Accounting Policies (Policies)

12 Months Ended

Aug. 31, 2020

Significant Accounting Policies (Policies) [Abstract]

Basis of Presentation

Basis of Presentation

The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America.

Use of Estimates

Use of Estimates

Preparing financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. Actual results and outcomes may differ from management's estimates and assumptions.

F-6

Advertising Costs

Advertising Costs

The Company's policy regarding advertising is to expense advertising when incurred. The Company did not incur advertising expenses during the period ended August 31, 2020.

Stock-Based Compensation

Stock-Based Compensation

As of AUGUST 31, 2020, the Company has not issued any stock-based payments to its employees.

Stock-based compensation is accounted for at fair value in accordance with ASC 718, when applicable.  To date, the Company has not adopted a stock option plan and has not granted any stock options.

Income Taxes

Income Taxes

The Company follows the liability method of accounting for income taxes.  Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences). A valuation allowance related to a deferred tax asset is recorded when it is more likely than not that some portion of the deferred tax asset will not be realized. The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

Property and Equipment Depreciation Policy

Property and Equipment Depreciation Policy

Property and equipment are stated at cost and depreciated on the straight-line method over the estimated life of the asset, which is 3 years.

New Accounting Pronouncements

New Accounting Pronouncements

There were various accounting standards and interpretations issued recently, none of which are expected to have a material impact on our financial position, operations, or cash flows.

Start-Up Costs

Start-Up Costs

In accordance with ASC 824, “Start-up Costs”, the company expenses all costs incurred in connection with the start-up and organization of the company.

Fair Value Measurements

Fair Value Measurements

The company adopted the provisions of ASC Topic 820, “Fair Value Measurements and Disclosures”, which defines fair value as used in numerous accounting  pronouncements, establishes a framework for measuring fair value and expands disclosure of fair value measurements.

The estimated fair value of certain financial instruments, including cash and cash equivalents are carried at a historical cost basis, which approximates their fair values because of the short-term nature of these instruments.

ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes nine levels of inputs that may be used to measure fair value:

Level 1 - quoted prices in active markets for identical assets or liabilities

Level 2 - quoted prices for similar assets and liabilities in active markets or inputs that are observable

Level 3 - inputs that are unobservable (for example cash flow modeling inputs based on assumptions)

The company has no assets or liabilities valued at fair value on a recurring basis.

F-7

XML

INCOME TAXES (Tables)

12 Months Ended

Aug. 31, 2020

INCOME TAXES (Tables) [Abstract]

Components of net deferred tax asset, including a valuation allowance, are as follows on August 31, 2020 and August 31, 2019:

On August 31, 2020, the Company had a net operating loss carryforward of $31,081, which begins to expire in the fiscal year ending August 31, 2040. Components of net deferred tax asset, including a valuation allowance, are as follows on August 31, 2020 and August 31, 2019:

Deferred tax asset:	AUGUST 31, 2020	AUGUST 31, 2019
Net operating loss carryforward	$    6,527	$	3,510
Total deferred tax asset	6,527		3,510
Less: Valuation allowance	(6,527)		(3,510)
Net deferred tax asset	$     -	$	-

Reconciliation between statutory rate and

Reconciliation between statutory rate and the effective tax rate for the periods ending August 31, 2020 and 2019:

	AUGUST 31, 2020				AUGUST 31, 2019
Federal statutory rate	(21.0)	%			(21.0)		%
State taxes, net of federal benefit	(0.00)	%			(0.00)		%
Change in valuation allowance	21.0	%			21.0		%
Effective tax rate	0.0		%	0.0		%

XML

- GOING CONCERN (Details Text)	42 Months Ended
	Aug. 31, 2020 USD ($)
Going Concern Details [Abstract]
The Company has accumulated loss from inception (February 17, 2017) to August 31, 2020 of $31,081	$ 31,081

XML

- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Text)	Aug. 31, 2020 $ / shares
Summary Of Signifcant Accounting Policies Details_ [Abstract]
As of AUGUST 31, 2020, the Company has not issued any stock-based payments to its employees.	$ 0

XML

- FIXED ASSETS (Details Text) - USD ($)	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Sep. 24, 2018
Fixed Assets Details [Abstract]
On September 24, 2018, the company purchased a computer for $950			$ 950
For the years ended August 31, 2020 and 2019, the Company recognized $317 and $290 in depreciation expense, respectively	$ 317	$ 290

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- STOCKHOLDERS EQUITY (Details Text) - shares	Aug. 31, 2020	Aug. 31, 2019
Stockholders' Equity, Number of Shares, Par Value and Other Disclosures [Abstract]
As of August 31, 2020 and 2019, the Company had 2,970,000 and 2,970,000 shares issued and outstanding, respectively.	2,970,000	2,970,000

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- RELATED PARTY TRANSACTIONS (Details Text)	Aug. 31, 2020 USD ($)
Related Party Transaction, Due from (to) Related Party, Current [Abstract]
Since February 17, 2017 (Inception) through August 31, 2020, the Company's sole officer and director loaned the Company $9,217 to pay for incorporation costs and operating expenses	$ 9,217

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INCOME TAXES (Details 1) - USD ($)	Aug. 31, 2020	Aug. 31, 2019
Deferred Income Taxes and Other Liabilities [Abstract]
Net operating loss carryforward	$ 6,527	$ 3,510
Total deferred tax asset	6,527	3,510
Less: Valuation allowance	(6,527)	(3,510)
Net deferred tax asset	$ 0	$ 0

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INCOME TAXES (Details 2) - USD ($)	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019
Federal Income Tax Expense (Benefit), Continuing Operations [Abstract]
Federal statutory rate	$ (21.0)	$ (21.0)
State taxes, net of federal benefit	(0.00)	(0.00)
Change in valuation allowance	21.0	21.0
Effective tax rate	$ 0.0	$ 0.0

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INCOME TAXES (Details Text)	Aug. 31, 2020 USD ($)
Income Taxes Text Details [Abstract]
On August 31, 2020, the Company had a net operating loss carryforward of $31,081, which begins to expire in the fiscal year ending August 31, 2020	$ 31,081