10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10−Q

(Mark One)

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

For the quarterly period ended: December 31, 2019

or

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

For the transition period from October 1 2019 to December 31 2019

Commission File Number: 000-32361

YUMMIES, INC.

(Exact name of registrant as specified in its charter)

Nevada	87-0615629
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

6F., No.516, Sec. 1, Neihu Road, Neihu District., Taipei City 114, Taiwan

(Address of principal executive offices, Zip Code)

+88 6287511886

(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 ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted 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 such files). Yes ☒   No ☐

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

Large accelerated filer ☐	Accelerated filer ☐
Non-accelerated filer ☒	Smaller reporting company ☒
	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 comply with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Not applicable.

As of February 16 2020, there were 449,505,500 shares of the registrant’s common stock issued and outstanding.

TABLE OF CONTENTS

PART I
FINANCIAL INFORMATION
Item 1.	Financial Statements	1
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	7
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	9
Item 4.	Controls and Procedures	10
PART II
OTHER INFORMATION
Item 1.	Legal Proceedings	11
Item 1A.	Risk Factors	11
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	11
Item 3.	Defaults Upon Senior Securities	11
Item 4.	Mine Safety Disclosures	11
Item 5.	Other Information	11
Item 6.	Exhibits	12

i

PART I

FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS.

YUMMIES, INC.

FINANCIAL STATEMENTS

	Page
Balance Sheets as of December 31, 2019 (unaudited) and September 30, 2019	2
Statements of Operations for the Three Months Ended December 31, 2019 and 2018 (unaudited)	3
Statements of Cash Flows for the Three Months Ended December 31, 2019 (unaudited)	4
Notes to Unaudited Financial Statements	5

1

YUMMIES, INC.

CONSOLIDATED BALANCE SHEETS

DECEMBER 31, 2019 AND SEPTEMBER 30, 2019

	December 31, 2019			September 30, 2019
Assets
Current Assets:
Cash	$	7,921		$	20,831
Account receivables		3,619			-
Total current assets		11,540			20,831
Total Assets	$	11,540		$	20,831
Liabilities and Stockholders’ Equity
Current Liabilities:
Accounts payable		2,303			1,230
Notes payable, stockholders		-			932
Total net current liabilities		2,303			2,162
Stockholders’ Equity:
Common stock, $0.0001 par value, 450,000,000 shares authorized, 445,977,607 issued and outstanding as of December 31 2019 and September 30, 2019		42,643			42,643
Preferred stock, $0.0001 par value, 50,000,000 shares authorized, 0 shares issued and outstanding as of December 31, 2019; no shares authorized and issued and outstanding as of September 30, 2019
Additional paid-in capital		140,201			140,201
Accumulated deficit		(173,607	)		(164,175	)
Total Stockholders’ Equity		9,237			18,669
Total Liabilities and Stockholders’ Equity	$	11,540		$	20,831

The accompanying notes are an integral part of the financial statements.

2

YUMMIES, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

THREE MONTHS ENDED DECEMBER 31, 2019 AND 2018

	Three Months Ended December 31, 2019			Three Months Ended December 31, 2018
Revenues	$	3,637		$	-
Expenses, general and administrative		(13,069	)		19,222
Operating loss		9,432			19,222
Other income (expense):
Interest expense		-			-
Loss before provision for income taxes		(9,432	)		(19,222	)
Provision for income taxes		-			-
Net loss	$	(9,432	)	$	(19,222	)
Net loss per share	$	-		$	-
Weighted average shares outstanding		445,997,607			2,505,000

The accompanying notes are an integral part of the financial statements.

3

YUMMIES, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

THREE MONTHS ENDED DECEMBER 31, 2019 AND 2018

	Three Months Ended December 31, 2019			Three Months Ended December 31, 2018
Cash flows from operating activities:
Net loss	$	(9,432	)	$	(19,222	)
Adjustments to reconcile net loss to cash provided by operating activities:
Decrease in prepaid expenses		-			3,000
Increase in account receivables		(3,619	)		-
Increase in accounts payable		141			16,222
Increase in interest payable		-			-
Net cash used in operating activities		(12,910	)		-
Cash flows from investing activities		-			-
Cash flows from financing activities		-			-
Net decrease in cash		(12,910	)		-
Cash, beginning of period		20,831			-
Cash, end of period	$	7,921		$	-
Supplemental disclosure of cash flow information:		-			-
Interest paid	$	-		$	-
Income taxes paid	$	-		$	-

 The accompanying notes are an integral part of the financial statements.

4

YUMMIES, INC.

NOTES TO FINANCIAL STATEMENTS

1. Summary of Business and Significant Accounting Policies

a. Summary of Business

Yummies, Inc. (the “Company”) was incorporated under the laws of the State of Nevada on June 10, 1998.  Planned principal operations have not yet commenced. The Company was formed to pursue business opportunities.

b. Basis of Presentation

The accompanying financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) as promulgated in the United States of America.

c. Cash Flows

For purposes of the statement of cash flows, the Company considers all highly liquid investments purchased with a maturity of three months or less to be cash or cash equivalents.

d. Net Loss Per Share

The net loss per share calculation is based on the weighted average number of shares outstanding during the period.

e. Use of Estimates

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

f. Fair Value of Financial Instruments

ASC 820-10 requires entities to disclose the fair value of financial instruments, both assets and liabilities recognized and not recognized on the balance sheet, for which it is practicable to estimate fair value. ASC 820-10 defines the fair value of a financial instrument as the amount at which the instrument could be exchanged in a current transaction between willing parties. As of December 31, 2019and September 30, 2019, the carrying value of certain financial instruments approximates fair value due to the short-term nature of such instruments.

2. Issuance of Common Stock

On August 13, 1998, the Company issued 1,000,000 shares of its $.001 par value common stock for an aggregate price of $1,000.

In February 1999, pursuant to Rule 504 of Regulation D of the Securities Act of 1933, as amended, the Company sold 17,500 shares of its common stock at a price of $1.00 per share. Costs of $6,471 associated directly with the offering were offset against the proceeds.

On December 15, 2000, an officer and stockholder of the Company returned 600,000 shares of common stock to authorized but unissued shares.

On December 17, 2018, the Company amended and restated its articles of incorporation. The authorized shares of common stock were increased from 50,000,000 shares to 450,000,000 shares and the par value was changed from $0.001 to $0.0001 per share. The change has been reflected retroactively in the accompanying financial statements. In addition, the Company authorized the issuance of 50,000,000 shares of preferred stock having a par value of $0.0001 per share. As of December 31, 2019, no preferred shares have been issued.

3. Warrants and Stock Options

No options or warrants are outstanding to acquire the Company’s common stock.

5

4. Income Taxes

Due to uncertainties surrounding the Company’s ability to generate future taxable income to realize these assets, a full valuation allowance has been established to offset the net deferred tax asset. The income tax effects of the Tax Cuts and Jobs Act have been completed in accordance with FASB ASC 740.

The provision for income tax consists of the following components at December 31, 2019 and 2018:

	2019			2018
Current:
Federal income taxes		[60,792	]	$	[64,762	]
State income taxes		-0-			[*	]
Deferred Benefit from net operating loss		60,762			60,762
	$	-0-		$	[*	]

The following reconciles income taxes reported in the financial statements to taxes that would be obtained by applying regular tax rates to income before taxes:

	2019			2018
Expected tax benefit using regular rates	$	[60,792	]	$	[64,189	]
State minimum tax					[*	]
Valuation allowance		60,792	)		64,189	)
Tax Provision	$	-0-		$	[*	]

The Company has loss carry forwards totaling $173,607 that may be offset against future federal income taxes. If not used, the carry forwards will expire between 2021 and 2038.

As a result of the implementation of certain provisions of ASC 740, Income Taxes, the Company performed an analysis of its previous tax filings and determined that there were no positions taken that it considered uncertain. Therefore, there was no provision for uncertain tax positions for the years ended September 30, 2019 and 2018. Future changes in uncertain tax positions are not expected to have an impact on the effective tax rate due to the existence of the valuation allowance. The Company will continue to classify income tax penalties and interest, if any, as part of interest and other expenses in its statements of operations. The Company has incurred no interest or penalties as of December 31, 2019 and 2018.

The federal income tax returns of the Company for 2018, 2017, and 2016 are subject to examination by the IRS, generally for three years after they were filed.

5. Going Concern

As shown in the accompanying financial statements, the Company incurred a net loss of $9,432 during the three months ended December 31, 2019 and accumulated losses of $173,607 since inception at June 10, 1998. The Company’s current assets exceed its current liabilities by $9,237 at December 31, 2019. These factors create an uncertainty as to the Company’s ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent upon the success of raising additional capital through the issuance of common stock and the ability to generate sufficient operating revenue. The financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.

6. Subsequent Events

Management has evaluated subsequent events through [2-14], 2020, the date on which the financial statements were available to be issued.

6

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

The following management’s discussion and analysis should be read in conjunction with our financial statements and the notes thereto and the other financial information appearing elsewhere in this report.

Use of Terms

Except as otherwise indicated by the context and for the purposes of this report only, references in this report to “we,” “our” and the “Company” refer to Yummies, Inc., a Nevada corporation.

Special Note Regarding Forward Looking Statements

In addition to historical information, this report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. We use words such as “believe,” “expect,” “anticipate,” “project,” “target,” “plan,” “optimistic,” “intend,” “aim,” “will” or similar expressions which are intended to identify forward-looking statements. Such statements include, among others, those concerning any projections of earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; as well as all assumptions, expectations, predictions, intentions or beliefs about future events. You are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, as well as assumptions, which, if they were to ever materialize or prove incorrect, could cause the results of the Company to differ materially from those expressed or implied by such forward-looking statements.

Readers are urged to carefully review and consider the various disclosures made by us in this report and our other filings with the Securities and Exchange Commission, or the SEC. These reports attempt to advise interested parties of the risks and factors that may affect our business, financial condition and results of operations and prospects. The forward-looking statements made in this report speak only as of the date hereof and we disclaim any obligation, except as required by law, to provide updates, revisions or amendments to any forward-looking statements to reflect changes in our expectations or future events.

Overview

The Company was originally incorporated in the State of Nevada on June 11, 1998. The Company was formed with the stated purpose of engaging in the business of the rental of boats and personal water craft but was not successful in that business. For the past number of years, the Company has checked the “shell company” box on the cover page of its Form 10-K annual reports filed with the Securities and Exchange Commission.

On August 29, 2018, the Company entered into and closed the transactions contemplated by a stock purchase agreement between the Company, Wei-Hsien Lin, and Susan Santage, the sole director, President, Treasurer, Secretary and controlling stockholder of the Company prior to that date. Pursuant to the stock purchase agreement, Mr. Lin purchased 1,690,000 shares of the Company’s common stock from Ms. Santage for $325,000, or $0.19231 per share. Such shares represented approximately 67.5% of the Company’s issued and outstanding common stock as of the closing. Accordingly, as a result of the transaction, on August 29, 2018, there was a change of control of the Company and Mr. Lin became the controlling stockholder of the Company.

In connection with the closing of the stock purchase transaction, Susan Santage resigned from all offices of the Company that she held and Mr. Wei-Hsien Lin was appointed as the President, Treasurer, and Secretary of the Company, effective as of August 29, 2018. Mr. Lin was also appointed to the board of directors (the “Board”) of the Company effective as of August 29, 2018. Ms. Santage resigned from the board of directors of the Company effective automatically on the 10^th day following the Company’s filing and mailing of an information statement on Schedule 14f-1. Such information statement was mailed on August 31, 2018, so Ms. Santage’s resignation was effective as of September 10, 2018.

On May 7, 2019, the Board of Directors of the Company, by written consent determined to increase the size of the Board to three (3) members and appointed Ms. Chi-Yin Lee and Ms. Yu-Jo Liao to the Board to fill the vacancies on the Board created by the increase.

On June 18, 2019, the Company formed a wholly owned subsidiary under the laws of Singapore, Yummies Knowledge Management Pte. Ltd., or the Singapore Subsidiary. The Singapore Subsidiary is authorized to issue 5,000 ordinary shares, denominated in Singapore dollars, all of which have been issued to the Company and are outstanding. The address of the Singapore Subsidiary is 82 Lorong 23 Geylang, #06-05, Atrix Building, Singapore 88409, and the telephone number is +65 6338 8801. The Managing Director of the Singapore Subsidiary is Mr. Wei-Hsien Lin, who is also the Chairman and Chief Executive Officer of the Company.

7

The principal activities of the Singapore Subsidiary are in the field of management consultancy services and the provision of corporate training programs and motivational courses in various areas of management. More specifically, the Singapore Subsidiary has begun assisting an affiliated company, Doers Knowledge Management Pte Ltd (“Doers Singapore”), a private Singapore based company owned by Mr. Lin, with marketing, promotional and management training activities relating to an event organized by Doers Singapore titled “Heartland Enterprises: Transform and Thrive,” a Bintan Island cruise for up to 150 entrepreneur-attendees took place from July 26 to July 28, 2019 on the cruise ship Genting Dream (the “Heartland Event”). The Singapore Subsidiary will provide similar services to future educational cruises and other programs to be sponsored by Doers Singapore and is being paid for the services it provides to Doers Singapore. Immediately following this Bintan Island cruise, the Singapore Subsidiary began providing educational site visits to entrepreneurs who have participated in the cruise and to sponsor related business development skill building seminars, all of which are expected to generate revenues to the Singapore Subsidiary. The Singapore Subsidiary will also sponsor its own educational programs separate from those of Doers Singapore.

As a result of the formation of the Singapore Subsidiary and the Singapore Subsidiary’s beginning of its business activities as described above, as of June 25, 2019, the Company ceased to be a “shell company,” as that term is defined in Rule 405 of the Securities Act of 1933, as amended, and Rule 12b-2 of the Exchange Act of 1934, as amended. On July 1, 2019, the Company filed a Form 8-K with the SEC indicating that the Board had made the determination that the Company had left shell company status on June 25, 2019. As such, in its future periodic reports to be filed with the SEC beginning with this annual report on Form 10-K, the Company will change the reporting of its status as a shell company and will check the box to indicate that the Company is not a shell company.

Going Concern

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in note 5 to the financial statements, the Company incurred net loss of $9,432 during the three month period ended December 31, 2019 and has accumulated losses of $173,607. The Company’s current assets exceed its current liabilities by $9,237 at December 31, 2019. These factors create an uncertainty as to the Company’s ability to continue as a going concern. Management’s plans in regard to these matters are also described in note 5. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Emerging Growth Company

We qualify as an “emerging growth company” under the Jumpstart Our Business Startups Act of 2012, or the JOBS Act. As a result, we are permitted to, and intend to, rely on exemptions from certain disclosure requirements. For so long as we are an emerging growth company, we will not be required to:

● have an auditor report on our internal controls over financial reporting pursuant to Section 404(b) of the Sarbanes-Oxley Act;

● comply with any requirement that may be adopted by the Public Company Accounting Oversight Board regarding mandatory audit firm rotation or a supplement to the auditor’s report providing additional information about the audit and the financial statements (i.e., an auditor discussion and analysis);

● submit certain executive compensation matters to shareholder advisory votes, such as “say-on-pay” and “say-on-frequency;” and

● disclose certain executive compensation related items such as the correlation between executive compensation and performance and comparisons of the chief executive officer’s compensation to median employee compensation.

In addition, Section 107 of the JOBS Act also provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. In other words, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected to take advantage of the benefits of this extended transition period. Our financial statements may therefore not be comparable to those of companies that comply with such new or revised accounting standards.

8

We will remain an “emerging growth company” for up to five years, or until the earliest of (i) the last day of the first fiscal year in which our total annual gross revenues exceed $1 billion, (ii) the date that we become a “large accelerated filer” as defined in Rule 12b-2 under the Exchange Act, which would occur if the market value of our common shares that is held by non-affiliates exceeds $700 million as of the last business day of our most recently completed second fiscal quarter or (iii) the date on which we have issued more than $1 billion in non-convertible debt during the preceding three year period.

Results of Operations

The Company is a development stage company and has had operations only starting with the fourth quarter of its fiscal year ended September 30, 2019. Prior to this time the Company was a shell company with no business activities.

The Company’s revenues for the three months ended December 31, 2019 and 2018 were $3,637 and $0, respectively.

General and administrative expenses for the three months ended December 31, 2019 were $13,069, as compared to $19,222 for the three months ended December 31, 2018, an approximately 32% decrease. Such increase was primarily due to decreases in professional services fees and filing fees.

There is no interest expense for the three months ended December 31, 2019 and December 31, 2018.

As a result of the foregoing factors, we had a net loss of $9,432 for the three months ended December 31, 2019, as compared to $19,222 for the three months ended December 31, 2018.

Liquidity and Capital Resources

As of December 31, 2019, the Company had minimal current assets of $11,540 to fund its operations. Liabilities consisted of $2,303 in accounts payable, and total liabilities of $2,303.The Company intends to maintain its operations in a manner which will minimize expenses but believes that present cash resources are not sufficient for its operations for the next 12 months. However, it believes that present officers and stockholders will provide any necessary funds through either the purchase of stock or loans to the Company. However, management could be incorrect in its belief and no commitment has been made by any party to further fund the Company’s operations.

Net cash used in operating activities was $12,910 for the three months ended December 31, 2019, as compared to $0 for the three months ended December 31, 2018.  For the three months ended December 31, 2019, the net loss of $9,432, offset by an increase in accounts payable in the amount of $141, were the primary drivers of the cash used in operating activities. For the three months ended December 31, 2018, the net loss of $19,222, offset by, an increase in accounts payable in the amount of $16,222, and decrease in prepaid expenses, were the primary drivers of the cash used in operating activities.

We had no investing activities or financing activities in the three months ended December 31, 2019 or 2018.

Off-Balance Sheet Arrangements

We have no 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.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

Not applicable.

9

ITEM 4. CONTROLS AND PROCEDURES.

Evaluation of Disclosure Controls and Procedures

We maintain disclosure controls and procedures (as defined in Rule 13a-15(e) under the Exchange Act). Disclosure controls and procedures refer to controls and other procedures designed to ensure that information required to be disclosed in the reports we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the SEC and that such information is accumulated and communicated to our management, including our principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure.

As required by Rule 13a-15(e) of the Exchange Act, our management has carried out an evaluation, with the participation and under the supervision of our principal executive officer and principal financial officer, of the effectiveness of the design and operation of our disclosure controls and procedures, as of December 31, 2019. Based upon, and as of the date of this evaluation, our principal executive officer and principal financial officer determined that our disclosure controls and procedures were effective.

Changes in Internal Control Over Financial Reporting

We regularly review our system of internal control over financial reporting and make changes to our processes and systems to improve controls and increase efficiency, while ensuring that we maintain an effective internal control environment. Changes may include such activities as implementing new, more efficient systems, consolidating activities, and migrating processes.

There were no changes in our internal controls over financial reporting during the quarter ended December 31, 2019 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

10

PART II

OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

From time to time, we may become involved in various lawsuits and legal proceedings, which arise, in the ordinary course of business. However, litigation is subject to inherent uncertainties, and an adverse result in these, or other matters, may arise from time to time that may harm our business. We are currently not aware of any such legal proceedings or claims that we believe will have a material adverse effect on our business, financial condition or operating results.

ITEM 1A. RISK FACTORS.

For a discussion of the risk factors affecting our business, see our Annual Report on Form 10-K for our fiscal year ended September 30, 2019, filed with the Securities and Exchange Commission on January 14, 2020.

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

We have not sold any equity securities during the quarter ended December 31, 2019 that were not previously disclosed in a current report on Form 8-K that was filed during the quarter.

During the quarter ended December 31, 2019, we did not repurchase any shares of our common stock.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4. MINE SAFETY DISCLOSURES.

Not applicable.

ITEM 5. OTHER INFORMATION.

We have no information to disclose that was required to be in a report on Form 8-K during the quarter ended December 31, 2019 but was not reported. There have been no material changes to the procedures by which security holders may recommend nominees to our board of directors.

11

ITEM 6. EXHIBITS.

Exhibit No.	Description
3.1	Amended and Restated Articles of Incorporation of the Company (incorporated by reference to Exhibit 3.1 to the Company’s Quarterly Report on Form 10-Q filed on February 14, 2019)
3.2	Amended and Restated Bylaws of the Company (incorporated by reference to Exhibit 3.1 to the Current Report on Form 8-K filed on November 13, 2018
31.1*	Certifications of Principal Executive Officer and Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1*	Certifications of Principal Executive Officer and Principal Financial Officer 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 Linkbase Document
101.LAB*	XBRL Taxonomy Extension Label Linkbase Document
101.PRE*	XBRL Taxonomy Extension Presentation Linkbase Document

* Filed herewith.

12

SIGNATURES

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

Date: February 17, 2020	YUMMIES, INC.
	/s/ Wei-Hsien Lin
	Name: Wei-Hsien Lin
	Title: President
	(Principal Executive Officer and Principal Financial and Accounting Officer)

13

EX-31.1

Exhibit 31.1

CERTIFICATIONS

I, Wei-Hsien Lin, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Yummies, 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(s) 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 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(s) 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.  

Date: February 17, 2020

/s/ Wei-Hsien Lin

Wei-Hsien Lin

President

(Principal Executive Officer and Principal Financial and Accounting 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

The undersigned President of YUMMIES, INC. (the “Company”), DOES HEREBY CERTIFY that:

1. The Company’s Quarterly Report on Form 10-Q for the quarter ended December 31, 2019 (the “Report”), fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. Information contained in the Report fairly presents, in all material respects, the financial condition and results of operation of the Company.

IN WITNESS WHEREOF, the undersigned has executed this statement this 17th day of February, 2020.

/s/ Wei-Hsien Lin

Wei-Hsien Lin

President

(Principal Executive Officer and Principal Financial and Accounting Officer)

A signed original of this written statement required by Section 906 has been provided to Yummies, Inc. and will be retained by Yummies, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.

The forgoing certification is being furnished to the Securities and Exchange Commission pursuant to § 18 U.S.C. Section 1350. It is not being filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and is not to be incorporated by reference into any filing of the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.

XML

Issuance of Common Stock

3 Months Ended

Dec. 31, 2019

Equity [Abstract]

Issuance of Common Stock

2. Issuance of Common Stock

On August 13, 1998, the Company issued 1,000,000 shares of its $.001 par value common stock for an aggregate price of $1,000.

In February 1999, pursuant to Rule 504 of Regulation D of the Securities Act of 1933, as amended, the Company sold 17,500 shares of its common stock at a price of $1.00 per share. Costs of $6,471 associated directly with the offering were offset against the proceeds.

On December 15, 2000, an officer and stockholder of the Company returned 600,000 shares of common stock to authorized but unissued shares.

On December 17, 2018, the Company amended and restated its articles of incorporation. The authorized shares of common stock were increased from 50,000,000 shares to 450,000,000 shares and the par value was changed from $0.001 to $0.0001 per share. The change has been reflected retroactively in the accompanying financial statements. In addition, the Company authorized the issuance of 50,000,000 shares of preferred stock having a par value of $0.0001 per share. As of December 31, 2019, no preferred shares have been issued.

XML

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2019	Sep. 30, 2019
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	450,000,000	450,000,000
Common stock, shares issued	445,977,607	445,977,607
Common stock, shares outstanding	445,977,607	445,977,607

XML

Going Concern

3 Months Ended

Dec. 31, 2019

Going Concern [Abstract]

Going Concern

5. Going Concern

As shown in the accompanying financial statements, the Company incurred a net loss of $9,432 during the three months ended December 31, 2019 and accumulated losses of $173,607 since inception at June 10, 1998. The Company's current assets exceed its current liabilities by $9,237 at December 31, 2019. These factors create an uncertainty as to the Company's ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent upon the success of raising additional capital through the issuance of common stock and the ability to generate sufficient operating revenue. The financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.

XML

Issuance of Common Stock (Details) - USD ($)	Dec. 15, 2000	Feb. 28, 1999	Aug. 13, 1998	Dec. 31, 2019	Sep. 30, 2019	Dec. 17, 2018
Issuance of Common Stock (Textual)
Common stock, shares issued			1,000,000
Common stock, shares authorized				450,000,000	450,000,000
Common stock, par value			$ 0.001	$ 0.0001	$ 0.0001
Preferred stock, par value				$ 0.0001	$ 0.0001	$ 0.0001
Preferred stock, shares authorized				50,000,000	50,000,000	50,000,000
Returned shares of common stock authorized but unissued, shares	600,000
Number of common stock sold		17,500
Common stock price per share		$ 1.00
Aggregate price			$ 1,000
Issuance costs of were offset against additional paid in capital		$ 6,471
Minimum [Member]
Issuance of Common Stock (Textual)
Common stock, shares authorized						50,000,000
Common stock, par value						$ 0.001
Maximum [Member]
Issuance of Common Stock (Textual)
Common stock, shares authorized						450,000,000
Common stock, par value						$ 0.0001

XML

Going Concern (Details) - USD ($)	3 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Sep. 30, 2019
Going Concern (Textual)
Incurred net loss	$ (9,432)	$ (19,222)
Accumulated losses	(173,607)		$ (164,175)
Current assets exceed its current liabilities	$ 9,237

XML

Summary of Business and Significant Accounting Policies

3 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Summary of Business and Significant Accounting Policies

1. Summary of Business and Significant Accounting Policies

a. Summary of Business

Yummies, Inc. (the "Company") was incorporated under the laws of the State of Nevada on June 10, 1998.  Planned principal operations have not yet commenced. The Company was formed to pursue business opportunities.

b. Basis of Presentation

The accompanying financial statements have been prepared in accordance with generally accepted accounting principles ("GAAP") as promulgated in the United States of America.

c. Cash Flows

For purposes of the statement of cash flows, the Company considers all highly liquid investments purchased with a maturity of three months or less to be cash or cash equivalents.

d. Net Loss Per Share

The net loss per share calculation is based on the weighted average number of shares outstanding during the period.

e. Use of Estimates

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

f. Fair Value of Financial Instruments

ASC 820-10 requires entities to disclose the fair value of financial instruments, both assets and liabilities recognized and not recognized on the balance sheet, for which it is practicable to estimate fair value. ASC 820-10 defines the fair value of a financial instrument as the amount at which the instrument could be exchanged in a current transaction between willing parties. As of December 31, 2019and September 30, 2019, the carrying value of certain financial instruments approximates fair value due to the short-term nature of such instruments.

XML

Consolidated Balance Sheets - USD ($)	Dec. 31, 2019	Sep. 30, 2019
Current Assets:
Cash	$ 7,921	$ 20,831
Account receivables	3,619
Total current assets	11,540	20,831
Total Assets	11,540	20,831
Current Liabilities:
Accounts payable	2,303	1,230
Notes payable, stockholders		932
Total net current liabilities	2,303	2,162
Stockholders' Equity:
Common stock, $0.0001 par value, 450,000,000 shares authorized, 445,977,607 issued and outstanding as of December 31 2019 and September 30, 2019	42,643	42,643
Preferred stock, $0.0001 par value, 50,000,000 shares authorized, 0 shares issued and outstanding as of December 31, 2019; no shares authorized and issued and outstanding as of September 30, 2019
Additional paid-in capital	140,201	140,201
Accumulated deficit	(173,607)	(164,175)
Total Stockholders' Equity	9,237	18,669
Total Liabilities and Stockholders' Equity	$ 11,540	$ 20,831

XML

Subsequent Events

3 Months Ended

Dec. 31, 2019

Subsequent Events [Abstract]

Subsequent Events

6. Subsequent Events

Management has evaluated subsequent events through [2-14], 2020, the date on which the financial statements were available to be issued.

XML

Income Taxes (Details) - USD ($)	3 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Current:
Federal income taxes	$ (60,792)	$ (64,762)
State income taxes	0
Deferred Benefit from net operating loss	60,762	60,762
provision for income tax	$ 0

XML

Consolidated Statements of Operations - USD ($)	3 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Revenues	$ 3,637
Expenses, general and administrative	(13,069)	19,222
Operating loss	9,432	19,222
Other income (expense):
Interest expense
Loss before provision for income taxes	(9,432)	(19,222)
Provision for income taxes
Net loss	$ (9,432)	$ (19,222)
Net loss per share
Weighted average shares outstanding	445,997,607	2,505,000

XML

Warrants and Stock Options

3 Months Ended

Dec. 31, 2019

Warrants and Stock Options [Abstract]

Warrants and Stock Options

3. Warrants and Stock Options

No options or warrants are outstanding to acquire the Company's common stock.

XML

Income Taxes (Tables)

3 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of provision for income tax

	2019			2018
Current:
Federal income taxes		[60,792	]	$	[64,762	]
State income taxes		-0-			[*	]
Deferred Benefit from net operating loss		60,762			60,762
	$	-0-		$	[*	]

Schedule of regular tax rates to income before taxes

	2019			2018
Expected tax benefit using regular rates	$	[60,792	]	$	[64,189	]
State minimum tax					[*	]
Valuation allowance		60,792	)		64,189	)
Tax Provision	$	-0-		$	[*	]

XML

Income Taxes (Details Textual)	3 Months Ended
	Dec. 31, 2019 USD ($)
Income Taxes (Textual)
Loss carry forwards	$ 173,607
Description of carry forwards expiration	The carry forwards will expire between 2021 and 2038.

XML

Income Taxes

3 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Income Taxes

4. Income Taxes

Due to uncertainties surrounding the Company's ability to generate future taxable income to realize these assets, a full valuation allowance has been established to offset the net deferred tax asset. The income tax effects of the Tax Cuts and Jobs Act have been completed in accordance with FASB ASC 740.

The provision for income tax consists of the following components at December 31, 2019 and 2018:

	2019			2018
Current:
Federal income taxes		[60,792	]	$	[64,762	]
State income taxes		-0-			[*	]
Deferred Benefit from net operating loss		60,762			60,762
	$	-0-		$	[*	]

The following reconciles income taxes reported in the financial statements to taxes that would be obtained by applying regular tax rates to income before taxes:

	2019			2018
Expected tax benefit using regular rates	$	[60,792	]	$	[64,189	]
State minimum tax					[*	]
Valuation allowance		60,792	)		64,189	)
Tax Provision	$	-0-		$	[*	]

The Company has loss carry forwards totaling $173,607 that may be offset against future federal income taxes. If not used, the carry forwards will expire between 2021 and 2038.

As a result of the implementation of certain provisions of ASC 740, Income Taxes, the Company performed an analysis of its previous tax filings and determined that there were no positions taken that it considered uncertain. Therefore, there was no provision for uncertain tax positions for the years ended September 30, 2019 and 2018. Future changes in uncertain tax positions are not expected to have an impact on the effective tax rate due to the existence of the valuation allowance. The Company will continue to classify income tax penalties and interest, if any, as part of interest and other expenses in its statements of operations. The Company has incurred no interest or penalties as of December 31, 2019 and 2018.

The federal income tax returns of the Company for 2018, 2017, and 2016 are subject to examination by the IRS, generally for three years after they were filed.

XML

Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net loss	$ (9,432)	$ (19,222)
Adjustments to reconcile net loss to cash provided by operating activities:
Decrease in prepaid expenses		3,000
Increase in account receivables	(3,619)
Increase in accounts payable	141	16,222
Increase in interest payable
Net cash used in operating activities	(12,910)
Cash flows from investing activities
Cash flows from financing activities
Net decrease in cash	(12,910)
Cash, beginning of period	20,831
Cash, end of period	7,921
Supplemental disclosure of cash flow information:
Interest paid
Income taxes paid

XML

Document and Entity Information - shares	3 Months Ended
	Dec. 31, 2019	Feb. 16, 2020
Document and Entity Information [Abstract]
Entity Registrant Name	YUMMIES INC
Entity Central Index Key	0001073748
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Document Type	10-Q
Document Period End Date	Dec. 31, 2019
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2019
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		449,505,500
Entity Filer Number	000-32361
Entity Interactive Data Current	Yes
Entity Incorporation State Country Code	NV

XML

Summary of Business and Significant Accounting Policies (Policies)

3 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Summary of Business

a. Summary of Business

Yummies, Inc. (the "Company") was incorporated under the laws of the State of Nevada on June 10, 1998.  Planned principal operations have not yet commenced. The Company was formed to pursue business opportunities.

Basis of Presentation

b. Basis of Presentation

The accompanying financial statements have been prepared in accordance with generally accepted accounting principles ("GAAP") as promulgated in the United States of America.

Cash Flows

c. Cash Flows

For purposes of the statement of cash flows, the Company considers all highly liquid investments purchased with a maturity of three months or less to be cash or cash equivalents.

Net Loss Per Share

d. Net Loss Per Share

The net loss per share calculation is based on the weighted average number of shares outstanding during the period.

Use of Estimates

e. Use of Estimates

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

Fair Value of Financial Instruments

f. Fair Value of Financial Instruments

ASC 820-10 requires entities to disclose the fair value of financial instruments, both assets and liabilities recognized and not recognized on the balance sheet, for which it is practicable to estimate fair value. ASC 820-10 defines the fair value of a financial instrument as the amount at which the instrument could be exchanged in a current transaction between willing parties. As of December 31, 2019and September 30, 2019, the carrying value of certain financial instruments approximates fair value due to the short-term nature of such instruments.

XML

Income Taxes (Details 1) - USD ($)	3 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Expected tax benefit using regular rates	$ (60,792)	$ (64,189)
State minimum tax
Valuation allowance	(60,792)	(64,189)
Tax Provision