During the twelve months ended April 30, 2022 and 2021 a Company shareholder had advanced $0 and $225,077 respectively of personal funds. As of April 30, 2022 and 2021 the Company owed the shareholder $0 and $225,077 https://xcritical.solutions/ respectively. Deferred tax assets arising as a result of net operation loss carry forwards have been offset completely by a valuation allowance due to the uncertainty of their utilization in future periods.
- Currently, in the United States, U.S. Customs and Border Protection is running Section 321 programs to enable the agency to monitor and protect against illegitimate trade while providing the public the benefits of duty-free shipments for qualified imports.
- It also frees up importing countries to focus resources on producing goods they’re best equipped to produce and, in turn, export.
- The note has a Maturity date of July 11, 2022 and carries an interest rate of 8% per annum.
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- If we are unable to raise sufficient funds or generate them through revenues, we will have to significantly reduce our spending, delay or cancel our planned activities or substantially change our current corporate structure.
- From inventory management to returns, direct-to-consumer brands must offer levels of customer service on par with e-commerce best practice.
In such an event, this may have a materially adverse effect on the Company’s business, operating results and financial condition. If the need arises, the Company may attempt to obtain funding or pay expenses through the continued sale or issuance of restricted stock. The Company may also use various types of short term funding, related party advances and expenses payment deferrals and external loans. Management is cautiously optimistic, however, that it will be able to generate the funding required to continue and expand its operations over the long term, and believes that it currently has cash reserves and cash commitments available to fund operations through the end of the year or longer.
This is normally used for one-time shipments, or where the creditworthiness of the buyer is not ascertainable. Cargo insurance generally refers to supplemental insurance purchased to protect the shipper from loss, damage or theft of cargo while in transit. This coverage is above and beyond basic claims insurance that may be provided. Cargo insurance policies can cover cargo carried by land, or cargo carried by air and sea ; policies and options vary greatly. UPS’s carbon neutral option supports projects that offset the emissions of the shipment’s transport.
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We believe that our pricing and focus on customer relationships allow us to compete favorably with traditional utilities in the regions we service. An interconnection agreement is generally required from the applicable local electricity utility to interconnect a solar energy system with the utility grid. In almost all cases, interconnection agreements are standard form agreements that have been pre-approved by the local public utility commission or other regulatory body with jurisdiction over interconnection. As such, no additional regulatory approvals are required once interconnection agreements are signed. We would prepare and submit these agreements on behalf of our customers to ensure compliance with interconnection rules.