Carriage House Events Center, Inc.: Form 10-Q

10-Q 1 form10q.htm FORM 10-Q Carriage House Events Center, Inc.: Form 10-Q - Filed by EDGARhub LLC

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-Q
(Mark One)

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

For the Quarterly Period Ended March 31, 2021

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

For the transition period

Commission File No. 333-236117

CARRIAGE HOUSE EVENT CENTER, INC.
(Exact name of the small business issuer as specified in its charter)

Colorado
(State of either jurisdiction of
Incorporation or Organization)

6521 Ocaso Drive
Castle Pines, CO 80108
(Address of principal executive offices)

303-730-7939
(Registrant’s telephone number, including area code)

(Former name, former address and former fiscal year, if changed since last report)

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 such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes [ ] No [X]

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 during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).
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	[X ]	Smaller reporting company	[X]
Emerging growth company	[ ]

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]

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

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

The number of shares of Common Stock, $0.001 par value, of the registrant outstanding at May 11, 2021 was 4,450,000.

TABLE OF CONTENTS

	Page No.
PART I.	3

Item 1. Financial Statements.	3

Condensed Consolidated Balance Sheets as of March 31, 2021 (Unaudited) and December 31, 2020	3

Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2021 and 2020 (Unaudited)	4

Condensed Consolidated Statements of Stockholders’ Deficit for the Three Months Ended March 31, 2021 and 2020 (Unaudited)	5

Condensed Consolidated Statements of Cash Flows for the Three months Ended March 31, 2021 and 2020 (Unaudited)	6

Notes to Condensed Unaudited Consolidated Financial Statements	7

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations	11

Item 3. Quantitative and Qualitative Disclosures About Market Risks.	14

Item 4. Controls and Procedures	14

PART II	14

Item 1. Legal Proceedings.	14

Item 1A. Risk Factors.	14

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.	15

Item 3. Defaults Upon Senior Securities.	15

Item 4. Mine Safety Disclosures.	15

Item 5. Other Information.	15

Item 6. Exhibits.	15

EXHIBIT INDEX	15

SIGNATURES	15

PART I – FINANCIAL INFORMATION

Item 1. Condensed Consolidated Financial Statements

Carriage House Event Center, Inc.

Condensed Consolidated Balance Sheets

		March 31, 2021			December 31, 2020
		(Unaudited)			(Audited)
Assets
Current assets:
Cash	$	6,426		$	12,250
Total current assets		6,426			12,250

Total assets	$	6,426		$	12,250

Liabilities and Stockholders’ Deficit
Current liabilities:
Related party debt		22,000			22,000
Current liabilities		22,000			22,000
Related party debt – long term		59,500			59,500
Total liabilities		81,500			81,500

Commitments and contingencies		-			-

Stockholders’ Deficit:
Common stock, $0.001 par value; 50,000,000 shares authorized; 4,450,000 shares issued and outstanding		4,450			4,450
Additional paid in capital		29,700			29,700
Accumulated deficit		(109,224	)		(103,400	)
Total Stockholders’ Deficit		(75,074	)		(69,250	)

Total Liabilities and Stockholders’ Deficit	$	6,426		$	12,250

See accompanying notes to these unaudited condensed consolidated financial statements.

Carriage House Event Center, Inc.

Condensed Consolidated Statements of Operations

(Unaudited)

		For the Three Months Ended
		March 31,
		2021			2020
Expenses:
General and administrative	$	5,824		$	14,716
Total operating expenses		5,824			14,716

Loss before provision for income taxes		(5,824	)		(14,716	)

Provision for income taxes		-			-

Net loss	$	(5,824	)	$	(14,716	)

Net Loss per common share
Basic and diluted	$	(0.00	)	$	(0.00	)

Weighted average shares outstanding
Basic and diluted		4,450,000			4,150,000

Carriage House Event Center, Inc.

Condensed Consolidated Statements of Stockholders’ Deficit

For the Three Months Ended March 31, 2021 and 2020

(unaudited)

					Additional
	Common Stock				Paid		Accumulated
	Shares		Amount		in Capital		Deficit			Total
Balance, December 31, 2020	4,550,000	$	4,450	$	29,700	$	(103,400	)	$	(69,250	)
Net loss	—		—		—		(5,824	)		(5,824	)
Balance, March 31, 2021	4,450,000	$	4,450	$	29,700	$	(109,224	)	$	(75,074	)

					Additional
	Common Stock				Paid		Accumulated
	Shares		Amount		in Capital		Deficit			Total
Balance, December 31, 2019	4,150,000	$	4,150	$	—	$	(74,962	)	$	(70,812	)
Net loss	—		—		—		(14,716	)		(14,716	)
Balance, March 31, 2020	4,150,000	$	4,150	$	—	$	(89,678	)		(85,528	)

See accompanying notes to these unaudited condensed consolidated financial statements.

Carriage House Event Center, Inc.

Condensed Consolidated Statements of Cash Flows

(Unaudited)

		For the Three Months Ended
		March 31,
		2021			2020
Cash flows from operating activities:
Net loss	$	(5,824	)	$	(14,716	)
Adjustments to reconcile net loss to net cash used by operating activities:
Net cash used by operating activities		(5,824	)		(14,716	)

Cash flows from investing activities:		—			—

Cash flows from financing activities:
Payments on related party loan		—			(5,000	)
Net cash used by financing activities		—			(5,000	)

Net change in cash		(5,824	)		(19,716	)
Cash at beginning of period		12,250			32,688
Cash at end of period	$	6,426		$	12,972

Supplemental schedule of cash flow information:
Interest paid	$	—		$	—
Income taxes paid	$	—		$	—

See accompanying notes to these unaudited condensed consolidated financial statements.

Carriage house Event Center, Inc.
Notes to the Unaudited Condensed Consolidated Financial Statements
March 31, 2021

NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS

Carriage House Events Center, Inc. (the “Company” or “We”) were incorporated under the laws of the State Colorado on June 26, 2010. The Company is developing its planned principal operations.

A new corporation Blue Carriage Events, Inc. (“Blue Carriage”) was formed under the laws of the State of Colorado in September 2018. Blue Carriage issued the Company 100 shares and is a wholly owned subsidiary of the Company.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of presentation

The Company’s unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The accompanying unaudited condensed consolidated financial statements reflect all adjustments, consisting of only normal recurring items, which, in the opinion of management, are necessary for a fair statement of the results of operations for the periods shown and are not necessarily indicative of the results to be expected for the full year ending December 31, 2021. These unaudited condensed financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto that are included in the Company’s Form 10-K for the year ended December 31, 2020.

Use of estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates.

Principles of Consolidation

The unaudited condensed consolidated financial statements include the accounts of the Company and Blue Carriage Events, Inc., its wholly owned subsidiary. During the three months ended March 31, 2021 and the year ended December 31, 2020Blue Carriage has had no transactions and has no bank account.

Recent Accounting Standards

The Company has implemented all new applicable accounting pronouncements that are in effect and applicable. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

NOTE 3 - GOING CONCERN

The accompanying consolidated financial statements have been prepared assuming that the company will continue as a going concern. The Company has incurred losses since inception and has used mainly related party loans to finance activities during the period from June 26, 2010 (inception) through March 31, 2021, with no resulting revenues. The Company does not have sufficient working capital for its planned activity, and to service its debt, which raises substantial doubt about its ability to continue as a going concern. The Company’s ability to achieve a level of profitable operations and/or additional financing impacts the Company’s ability to continue as it is presently organized. Management continues to develop its planned principal operations. Should management be unsuccessful in its operating activities, the Company may substantially curtail or terminate its operations. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

The COVID-19 Pandemic has had a dramatic effect on the wedding business in America and the operations of the Company. The Event Center business has come to a complete standstill because of rules against gatherings in most cities and states. It has become impossible for the Company to continue with its proposed business plan and to raise the additional funding to construct the event center as outlined in the Company business plan.

Those that have had their reservations at an event center, sometimes a year in advance, have had to postpone or cancel, usually because of the requirement to limited numbers of people at gatherings imposed by mayors and governors. The event center business has suffered with these cancellations. So many of the weddings that are going ahead, are doing so in a situation involving far less guests, and held in such places as a back yard. While weddings are a major part of the business of an event center, other meetings such as corporate functions have almost all been cancelled.

Our company is based heavily on an event center, and thus on meetings of 50 to 1000 people, the progress of the company has been dramatically curtailed in a number of ways. First, in the raising of capital through investors in our public offering and in additional private capital. Second, in advancing our business plan in a number of areas, including getting the interest of companies that might be interested in participating in our overall concept.

There is no way of knowing when the COVID-19 pandemic will subside and allow public meetings. If the pandemic does not subside quickly, the Company may have to change directions.

NOTE 4 – RELATED PARTY TRANSACTIONS

Related Party Debt

The Company has entered into promissory notes (each a “Note” and collectively the “Notes”) with related parties, Terayco Enterprises, LTD. (“Terayco”) and A. Terry Ray (“Terry Ray”). Terayco (the “Holder”) is a corporation owned by Phillip E. Ray, the husband of A. Terry Ray, and A. Terry Ray, the principal shareholder of the Company. Terry Ray (the “Holder”) is the principal shareholder of the Company.

As of March 31, 2021 and December 31, 2020, the Company was indebted to Terayco and Terry Ray in the aggregate principal amount of $81,500 and $81,500, respectively.

The details of each note, still outstanding, by the year of issue is as follows:

2012:

●A convertible promissory note was issued to Terayco on December 31, 2012 in the amount of $7,000.

At the time of issue, the terms of the Note where it matured in two years from the date of issuance at which time the outstanding principal amount of the Note and all accrued and unpaid interest thereon was due and payable by the Company. The Note is interest free for the first year from issuance, after which time it bears interest at the rate of 4% per annum. Interest is accrued and compounded monthly and becomes payable on the maturity date.

The principal amount of the Note may be prepaid by the Company, in whole or in part without premium or penalty, at any time. Upon any prepayment of the entire principal amount of the Notes, all accrued but unpaid interest shall be paid to the Holder on the date of prepayment.

The Note becomes due and payable immediately upon the failure by the Company to pay within five (5) days of the due date of any amount of the principal or accrued interest on the Note.

The unpaid principal on these Notes shall be convertible, at the sole and exclusive option of the Holder, prior to the payment in full of the principal and interest outstanding under the Notes into common stock of the Company. The Holder of the Note must give ten (10) days advanced written notice to the Company of its intention to convert the Note, unless agreed to otherwise by the parties. The number of shares issuable upon any optional conversion hereunder, whether the entire Note or any part thereof, shall be equal to that number of shares of common stock of the Company that results from dividing the amount of the Note to be converted by $0.01 per share, unless agreed to otherwise by the Note Holder and the Board of Directors of the Company.

At the time of issue, the terms of the Note were it matured two years from the date of issuance at which time the outstanding principal amount of the Note and all accrued and unpaid interest thereon was due and payable by the Company. The Note is interest free for the first year from issuance, after which time it bears interest at the rate of 4% per annum. Interest is accrued and compounded monthly and becomes payable on the maturity date.

On December 31, 2013 the Company entered into an agreement with Terayco to issue 50,000 shares, at par value of $.001 of common stock of the authorized but unissued stock of the company to amend the $7,000 note to remove the optional conversion and extend the maturity date and the interest date to December 31, 2018. The shares were issued February 15, 2014.

The note was amended on December 31, 2018 to extend the maturity date and the interest date to December 31, 2020.

The note was further amended on December 31, 2020 to extend the maturity date and the interest date to December 31, 2023.

2014:

● A convertible promissory note was issued to Terayco on December 31, 2014 in the amount of $14,000.

At the time of issue, the terms of the Note were it matured two years from the date of issuance at which time the outstanding principal amount of the Note and all accrued and unpaid interest thereon is due and payable by the Company. The Note is interest free for the first year from issuance, after which time it bears interest at the rate of 4% per annum. Interest is accrued and compounded monthly and becomes payable on the maturity date.

The Note becomes due and payable immediately upon the failure by the Company to pay within five (5) days of the due date of any amount of the principal or accrued interest on the Note.

On December 31, 2015 the Company entered into an agreement with Terayco to issue 50,000 shares, at par value of $.001 of common stock of the authorized but unissued stock of the company to amend the $14,000 note to remove the optional conversion and extend the maturity date and the interest date to December 31, 2018. The shares were issue on January 10, 2016 (note 5).

The note was amended at December 31, 2018 to extend the maturity date and the interest date to December 31, 2020.

The note was further amended on December 31, 2020 to extend the maturity date and the interest date to December 31, 2023.

2015:

● A promissory note was issued to Terayco on July 23, 2015 in the amount of $5,500

The note matures December 31, 2018. The note is interest free until December 31, 2018 after which time it will bear interest at the rate of 4% per annum. Interest is accrued and compounded monthly and becomes payable on the maturity date.

The note was further amended on December 31, 2020 to extend the maturity date and the interest date to December 31, 2023.

2019:

● A promissory note was issued to A. Terry, the Company President, on September 10, 2019 in the amount of $33,000.

The note matures December 31, 2020. The note is interest free until December 31, 2020 after which time it will bear interest at the rate of 4% per annum. Interest is accrued and compounded monthly and becomes payable on the maturity date. The principal amount of the Note may be prepaid by the Company, in whole or in part without premium or penalty, at any time. Upon any prepayment of the entire principal amount of the Notes, all accrued but unpaid interest shall be paid to the Holder on the date of prepayment.

The note was amended on December 31, 2020 to extend the maturity date and the interest date to December 31, 2023.

● A promissory note was issued to A. Terry Ray on July 27, 2020 to replace a prior note, in the amount of $22,000. The note matures December 31, 2021. The note is interest free until December 31, 2021 after which time it will bear interest at the rate of 4% per annum.

The following table summarizes the issue period of each outstanding note as of:

		March 31,		December 31,
		2021		2020
December 31, 2012	$	7,000	$	7,000	Terayco International
December 31, 2014	$	14,000	$	14,000	Terayco International
July 15, 2015	$	5,500	$	5,500	Terayco International
September 10, 2019	$	33,000	$	33,000	Terry Ray
November 23, 2020	$	22,000	$	22,000	Terry Ray
TOTAL	$	81,500	$	81,500

Other Related Party Transactions

During the three months ended March 31, 2021 and 2020, the Company paid a total of $0 and $2,000, respectively, to American Business Institute for consulting fees. American Business Institute is a Colorado corporation is controlled by Darin Ray who is the son of our President, A. Terry Ray.

NOTE 5 — STOCKHOLDERS’ EQUITY

Common Stock

There are 45,000,000 shares of Common Stock, $0.001 par value, authorized, with 4,450,000 shares issued and outstanding at the end of March 31, 2021.

There are 5,000,000 shares of Preferred stock authorized, none of which is issued and outstanding.

The holders of Common Stock are entitled to one vote for each share held on all matters submitted to a vote of shareholders. Holders of Common Stock are entitled to receive ratably such dividends, if any, as may be declared by the Board of Directors out of funds legally available therefore, subject to any preferential dividend rights of outstanding Preferred Stock, which may be authorized and issued in the future. Upon a liquidation, dissolution or winding up of the Company, the holders of Common Stock are entitled to receive ratably the net assets available after the payment of all debts and other liabilities, and subject further only to the prior rights of any outstanding Preferred Stock which may be authorized and issued in the future.

The holders of Common Stock have no preemptive, subscription, redemption or conversion rights. The outstanding shares of Common Stock are, and the shares offered herein will be, when issued and paid for, fully paid and non-assessable. Cumulative voting in the election of directors is not permitted and the holders of a majority of the number of outstanding shares will be in a position to control the election of directors at a general shareholder meeting and may elect all of the directors standing for election. We have no present intention to pay cash dividends to the holders of Common Stock.

In 2020, the Company filed an S-1 Registration Statement to register 1,000,000 shares of the Company’s common stock to be sold to the public at the price of $0.10 per share for a total of $100,000. The Registration Statement became effective on May 8, 2020.

NOTE 6 — SUBSEQUENT EVENTS

Management has evaluated subsequent events pursuant to the requirements of ASC Topic 855, from the balance sheet date through the date the financial statements were issued and has determined that no material subsequent events exist.

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Our Management’s Discussion and Analysis should be read in conjunction with our unaudited condensed consolidated financial statements and related notes thereto included elsewhere in this quarterly report.

Forward-Looking Statements

This quarterly report on Form 10-Q contains “forward-looking statements” that include information relating to future events, future financial performance, strategies, expectations, competitive environment, regulation and availability of resources. These forward-looking statements include, without limitation, statements regarding: proposed new products or services; our statements concerning litigation or other matters; statements concerning projections, predictions, expectations, estimates or forecasts for our business, financial and operating results and future economic performance; statements of management’s goals and objectives; trends affecting our financial condition, results of operations or future prospects; our financing plans or growth strategies; and other similar expressions concerning matters that are not historical facts. Words such as “may,” “will,” “should,” “could,” “would,” “predicts,” “potential,” “continue,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes” and “estimates,” and similar expressions, as well as statements in future tense, identify forward-looking statements.

Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by which, that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. We assume no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable securities laws. If we do update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.

Business Overview

Carriage House Event Center, Inc. (“we, “us,” “our,” the “Company” or “Carriage House”) was incorporated in the state of Colorado on June 26, 2010. On September 11, 2018, we formed a wholly owned subsidiary company, Blue Carriage Events, Inc. As of the date of this filing, we have not conducted any business through the Company or through our subsidiary. Our principal executive offices are located at 6521 Ocaso Drive, Castle Pines, Colorado, 80108 Telephone 303-730-7939.

The Company was formed for the purpose of researching and developing a concept of an Event Center with many additional associated businesses on the grounds of the Event Center.

We have not generated revenue to date. Our operations since 2010 to date has consisted of extensive research of our concept and filing an S-1 registration statement.

Our independent accountants have expressed a “going concern” opinion.

As of the date of this filing, the Company had sold 300,000 shares of common stock at $0.10 per share for gross proceeds of $30,000. The shares were sold by the officers and Directors of the Company and no broker commissions were paid. There is no guarantee that additional shares will be sold from the Registration Statement.

Even if all of the shares offered on the S-1 Registration Statement had been sold, our management would continue to own over a majority of the outstanding shares of the Company.As of March 31, 2021, management and affiliates own 4,150,000 shares (93.3%) and the shareholders hold the free stock own 300,000 sharesor 6.7%

As a result, they have the ability to determine the outcome on all matters requiring approval of our shareholders, including the election of directors and approval of significant corporate transactions.

Covid-19 Pandemic

The covid-19 Pandemic has had a dramatic effect on the progress of the company in raising the funds needed snf making progress on our business plan. the wedding corporate and other meetings have practically come to a standstill for the time being, thus as has the Event Center business.

As an example, the wedding event business which is a major business for an event center.

According to “The Wedding Report,” of July 29, 2020, the covid-19 Pandemic has had an enormous effect on the wedding business in 2020.

1.	26% of couples are postponing to later in 2020, most of these are coming from April and May, but seeing August and September weddings postponing to later in 2020.
2.	26.5% are moving to 2021, these are still from April to December
3	5.5% are cancelling altogether, most these are coming from April to June
4.	42% are holding their current date

However, those that have had their reservations at an event center, sometimes a year in advance, have had to postpone or cancel, usually because of the requirement to limited numbers of people at gatherings imposed by mayors and governors. The event center business has suffered with these cancellations. So many of the weddings that are going ahead, are doing so in a situation involving far less guests, and held in such places as a back yard. While weddings are a major part of the business of an event center, other meetings such as corporate functions have almost all been cancelled.

There is no way of knowing when the covid-19 pandemic will subside and allow public meetings.

Our company is based heavily on an event center, and thus on meetings of 50 to 1000 people, the progress of the company has been dramatically curtailed in a number of ways. First, in the raising of capital through investors in our public offering and in additional private capital. Second in advancing our business plan in a number of areas, including getting the interest of companies that might be interested in participating in our overall concept.

If the pandemic does not subside quickly, the Company may have to change directions.

These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Critical Accounting Policies, Judgments and Estimates

Our discussion and analysis of our financial condition and results of operations is based upon our consolidated financial statements, which have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”). The preparation of these consolidated financial statements requires us to make estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the related disclosure of contingent assets and liabilities. We base our estimates on historical experience and on various other assumptions that we believe are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.

An accounting policy is considered to be critical if it requires an accounting estimate to be made based on assumptions about matters that are highly uncertain at the time the estimate is made, and if different estimates that reasonably could have been used, or changes in the accounting estimate that are reasonably likely to occur, could materially impact the consolidated financial statements. We believe that the following critical accounting policies reflect the more significant estimates and assumptions used in the preparation of the consolidated financial statements.

Income Taxes

The Company follows the asset and liability method of accounting for future income taxes. Under this method, future income tax assets and liabilities are recorded based on temporary differences between the carrying amount of assets and liabilities and their corresponding tax basis. In addition, the future benefits of income tax assets including unused tax losses, are recognized, subject to a valuation allowance to the extent that it is more likely than not that such future benefits will ultimately be realized. Future income tax assets and liabilities are measured using enacted tax rates and laws expected to apply when the tax liabilities or assets are to be either settled or realized. The Company’s effective tax rate approximates the Federal statutory rates.

Results of Operations for the Three months Ended March 31, 2021 compared to the Three Months March 31, 2020.

The Company has not generated any revenue since inception.

General and administrative expenses during the three months ended March 31, 2021, were $5,824 compared to $14,716 during the three months ended March 31, 2020, a decrease of $8,892. During the prior period we had audit and consulting expense that we did not incur in the current period.

Our net loss for the three months ended March 31, 2021, was $5,824 compared to $14,716 for the three months ended March 31, 2020.

Liquidity and Capital Resources

As of March 31, 2021, we had a cash balance of $6,426, a decrease of $5,824 from a balance of $12,250 at December 31, 2020. The decrease was the result of cash used for accounting and auditing fees for our year end audit.

Operating Activities

Net cash used in operating activities was $5,824forthree months ended March 31, 2021, compared with $14,716 used for operating activities during the three months ended March 31, 2020.

Investing Activities

We neither generated nor used cash in investing activities during the three months ended March 31, 2021and 2020.

Financing Activities

During the three months ended March 31, 2021, we neither received nor used any cash in financing activities. During the three months ended March 31, 2020, we repaid $5,000 towards related party loans.

Going Concern

The accompanying unaudited financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. The Company currently has limited operations and has a stockholders’ deficit of $75,074 with an accumulated deficit of $109,224. If the Company cannot fulfill its business plan, the Company may attempt to find a merger target in the form of an operating entity. The Company cannot be certain that it will be successful in this strategy.

Off Balance Sheet Arrangements

We have not entered into any off-balance sheet arrangements.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISKS.

Not Applicable.

ITEM 4. CONTROLS AND PROCEDURES.

Evaluation of Disclosure Controls and Procedures

We carried out an evaluation of the effectiveness of disclosure controls and procedures as of the end of the period covered by this report under the supervision and with the participation of our management, including our Principal Executive Officer and Principal Financial Officer, as defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934. Based on that evaluation, our Principal Executive Officer and Principal Financial Officer have concluded that our disclosure controls and procedures as of three months ended March 31, 2021were not effective to ensure that information required to be disclosed by us in reports that we file or submit under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms. The term “disclosure controls and procedures,” as defined under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), means controls and other procedures of a company that are designed to ensure that information required to be disclosed by a company in the reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the SEC’s rules and forms. Management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving their objectives and management necessarily applies its judgment in evaluating the cost-benefit relationship of possible controls and procedures. Notwithstanding the identified material weaknesses, management believes the financial statements included in this quarterly report on Form 10-Q fairly represent in all material respects our financial condition, results of operations and cash flows at and for the periods presented in accordance with U.S. GAAP.

Changes in Internal Control over Financial Reporting

There have been no changes in our internal control over financial reporting identified in connection with the evaluation required by paragraph (d) of Rule 13a-15 or Rule 15d-15 under the Exchange Act that occurred during quarter ended March 31, 2021, that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

PART II

ITEM 1. LEGAL PROCEEDINGS.

There are no legal proceedings against the Company and the Company is unaware of any proceedings contemplated against it.

Item 1A. Risk Factors.

In accordance with the requirements of Form 10-Q, the Company, as a smaller reporting company, is not required to make the disclosure under this item.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

None

Item 3. Defaults Upon Senior Securities.

None

Item 4. Mine Safety Disclosures.

None

Item 5. Other Information.

None

Item 6. Exhibits.

(a) Exhibits.

Exhibit
No.		Description
31.1		Rule 13a14(a)/15d-14(a) Certification of Chief Executive Officer and Chief Financial Officer
32.1		Section 1350 Certification of Chief Executive Officer and Chief Financial Officer
101.INS*		XBRL Instance Document(1)
101.SCH*		XBRL Taxonomy Extension Schema Document(1)
101.CAL*		XBRL Taxonomy Extension Calculation Linkbase Document(1)
101.DEF*		XBRL Taxonomy Extension Definition Linkbase Document(1)
101.LAB*		XBRL Taxonomy Extension Label Linkbase Document(1)
101.PRE*		XBRL Taxonomy Extension Presentation Linkbase Document(1)

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.

	CARRIAGE HOUSE EVENT
	CENTER, INC.

Date: May 13, 2021	/s/ A. Terry Ray
	A. Terry Ray, President and CEO
	(Principal Executive Officer), (Principal Accounting Officer)