0001553350-17-001089.txt : 20171012 0001553350-17-001089.hdr.sgml : 20171012 20171012091239 ACCESSION NUMBER: 0001553350-17-001089 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 29 CONFORMED PERIOD OF REPORT: 20170831 FILED AS OF DATE: 20171012 DATE AS OF CHANGE: 20171012 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ANVI GLOBAL HOLDINGS, INC. CENTRAL INDEX KEY: 0001570132 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-FOOD STORES [5400] IRS NUMBER: 331226144 STATE OF INCORPORATION: NV FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 333-188648 FILM NUMBER: 171133845 BUSINESS ADDRESS: STREET 1: 1135 KILDAIRE FARM ROAD STREET 2: SUITE 319-4 CITY: CARY STATE: NC ZIP: 27511 BUSINESS PHONE: 408 821 4491 MAIL ADDRESS: STREET 1: 1135 KILDAIRE FARM ROAD STREET 2: SUITE 319-4 CITY: CARY STATE: NC ZIP: 27511 FORMER COMPANY: FORMER CONFORMED NAME: VETRO, INC. DATE OF NAME CHANGE: 20130220 10-Q 1 vtrq_10q.htm QUARTERLY REPORT Quarterly Report

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549


FORM 10-Q


þ

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

 

For the quarterly period ended August 31, 2017

 

 

¨

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

 

For the transition period from __________  to __________


Commission file number: 333-188648


ANVI GLOBAL HOLDINGS, INC.

(Exact name of registrant as specified in its Charter)


Nevada

33-1226144

(State or other jurisdiction of

(I.R.S. Employer

incorporation or organization)

Identification No.)


1135 Kildaire Farm Road, Suite 319-4

Cary, NC

27511

(Address of principal executive offices)

(Zip Code)


Registrant's telephone number, including area code: (408) 821-4491


VETRO, INC.

(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 Exchange Act during the past 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 þ No ¨


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 (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes þ No ¨


Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, 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  þ

(Do not check if a smaller reporting company)

Emerging growth company  ¨


If an emerging growth company, indicate by checkmark if the registrant has not elected to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ¨


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


State the number of shares outstanding of each of the issuers classes of common equity, as of the latest practicable date: As of October 10, 2017, the issuer had 10,550,000 shares of its common stock issued and outstanding.

 

 





 



TABLE OF CONTENTS



 

Page

PART I. FINANCIAL INFORMATION

 

 

 

ITEM 1.

FINANCIAL STATEMENTS

1

 

 

Condensed Balance Sheets as of August 31, 2017 and February 29, 2017 (unaudited)

1

Condensed Statements of Operations for the Three and Six Months Ended August 31, 2017 and 2016 (unaudited)

2

Condensed Statements of Cash Flows for the Six Months Ended August 31, 2017 and 2016 (unaudited)

3

Notes to the Condensed Financial Statements (unaudited)

4

 

 

ITEM 2.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

6

 

 

ITEM 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

7

 

 

ITEM 4.

CONTROLS AND PROCEDURES

7

 

 

PART II. OTHER INFORMATION

 

 

 

ITEM 1.

LEGAL PROCEEDINGS

9

 

 

ITEM 1A.

RISK FACTORS

9

 

 

ITEM 2.

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

9

 

 

ITEM 3.

DEFAULTS UPON SENIOR SECURITIES

9

 

 

ITEM 4.

MINE SAFETY DISCLOSURES

9

 

 

ITEM 5.

OTHER INFORMATION

9

 

 

ITEM 6.

EXHIBITS

9

 

 

SIGNATURES

10










 


PART I. FINANCIAL INFORMATION


ITEM 1. FINANCIAL STATEMENTS


ANVI GLOBAL HOLDINGS, INC.

(formerly VETRO, INC.)

CONDENSED BALANCE SHEETS

(Unaudited)

 

 

 

August 31,

 

 

February 28,

 

 

 

2017

 

 

2017

 

ASSETS

 

 

 

 

 

 

Current Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash

 

$

240

 

 

$

-

 

 

 

 

 

 

 

 

 

 

Total Current Assets

 

 

240

 

 

 

-

 

 

 

 

 

 

 

 

 

 

Total Assets

 

$

240

 

 

$

-

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accrued liabilities, related party

 

$

468,000

 

 

$

396,000

 

Due to an officer

 

 

62,193

 

 

 

-

 

 

 

 

 

 

 

 

 

 

Total Liabilities

 

 

530,193

 

 

 

396,000

 

 

 

 

 

 

 

 

 

 

Stockholders' Equity (Deficit):

 

 

 

 

 

 

 

 

Common stock, $0.001 par value; 75,000,000 shares authorized,

 

 

 

 

 

 

 

 

10,550,000 and 10,550,000 shares issued and outstanding, respectively

 

 

10,550

 

 

 

10,550

 

Additional paid-in capital

 

 

22,950

 

 

 

22,950

 

Accumulated deficit

 

 

(563,453

)

 

 

(429,500

)

 

 

 

 

 

 

 

 

 

Total Stockholders’ Deficit

 

 

(529,953

)

 

 

(396,000

)

 

 

 

 

 

 

 

 

 

Total Liabilities and Stockholders' Equity (Deficit)

 

$

240

 

 

$

-

 

 


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





1



 


ANVI GLOBAL HOLDINGS, INC.

(formerly VETRO, INC.)

CONDENSED STATEMENTS OF OPERATIONS

(Unaudited)

 

 

 

For the Three Months Ended

 

 

For the Six Months Ended

 

 

 

August 31,

 

 

August 31,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue:

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

General & administrative expenses

 

 

47,223

 

 

 

36,000

 

 

 

133,953

 

 

 

72,000

 

Total operating expenses

 

 

47,223

 

 

 

36,000

 

 

 

133,953

 

 

 

72,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from operations

 

 

(47,223

)

 

 

(36,000

)

 

 

(133,953

)

 

 

(72,000

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss before income taxes

 

 

(47,223

)

 

 

(36,000

)

 

 

(133,953

)

 

 

(72,000

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision for income taxes

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(47,223

)

 

$

(36,000

)

 

$

(133,953

)

 

$

(72,000

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic loss per share

 

$

0.00

 

 

$

0.00

 

 

$

(0.01

)

 

$

(0.01

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average shares

 

 

10,550,000

 

 

 

10,550,000

 

 

 

10,550,000

 

 

 

10,550,000

 



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






2



 


ANVI GLOBAL HOLDINGS, INC.

(formerly VETRO, INC.)

CONDENSED STATEMENTS OF CASH FLOWS

(Unaudited)

 

 

 

For the Six Months Ended

 

 

 

August 31,

 

 

 

2017

 

 

2016

 

Cash flows from operating activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(133,953

)

 

$

(72,000

)

Adjustments to reconcile net cash used in operating activities:

 

 

 

 

 

 

 

 

Changes in assets and liabilities:

 

 

 

 

 

 

 

 

Accrued liabilities, related party

 

 

72,000

 

 

 

72,000

 

Net cash used in operating activities

 

 

(61,953

)

 

 

-

 

 

 

 

 

 

 

 

 

 

Cash flows from investing activities:

 

 

 

 

 

 

-

 

 

 

 

 

 

 

 

 

 

Cash flows from financing activities:

 

 

 

 

 

 

 

 

Advances from an officer

 

 

62,193

 

 

 

-

 

Net cash provided by financing activities

 

 

62,193

 

 

 

-

 

 

 

 

 

 

 

 

 

 

Net increase in cash

 

 

240

 

 

 

-

 

 

 

 

 

 

 

 

 

 

Cash, beginning of period

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

Cash, end of period

 

$

240

 

 

$

-

 


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





3



 


ANVI GLOBAL HOLDINGS, INC.

(formerly VETRO, INC.)

NOTES TO THE CONDENSED FINANCIAL STATEMENTS

AUGUST 31, 2017

(Unaudited)


NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS


Anvi Global Holdings, Inc., (the “Company”) was incorporated under the laws of the State of Nevada on August 15, 2012, and intended to sell crepes in Czech Republic. That proposed business was abandoned when a change of control of the Company was effected May 6, 2014.


On April 30, 2014, Tatiana Fumioka (the “Seller”), entered into a Common Stock Purchase Agreement (the “Stock Purchase Agreement”) pursuant to which the Seller agreed to sell to Mr. Rama Mohan R. Busa (the “Purchaser”), with his principal place of business in Cary, NC, the 8,000,000 shares of common stock of the Company owned by Ms. Fumioka, constituting approximately 75.83% of the Company’s outstanding common stock to be transferred to the name of Mr. Rama Mohan R. Busa, for $375,000. The sale was consummated on May 6, 2014. As a result of the sale, there was a change of control of the Registrant. This was a private transaction between the Seller and Purchaser, and no new shares of the Company were sold or issued.


On September 27, 2017 the Company changed its name from Vetro Inc. to Anvi Global Holdings, Inc.

 

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES


Basis of Presentation

The Company’s unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The preparation of 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 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. The accompanying unaudited condensed 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 February 28, 2018. These unaudited condensed financial statements should be read in conjunction with the financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended February 28, 2017.


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.  Significant estimates include the estimated useful lives of property and equipment.  Actual results could differ from those estimates.


Recent Accounting Pronouncements

The Company has reviewed all recently issued accounting pronouncements and plans to adopt those that are applicable to it. The Company does not expect the adoption of any other pronouncements to have an impact on its results of operations or financial position. 







4



ANVI GLOBAL HOLDINGS, INC.

(formerly VETRO, INC.)

NOTES TO THE CONDENSED FINANCIAL STATEMENTS

AUGUST 31, 2017

(Unaudited)

 


NOTE 3 - GOING CONCERN


The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has had no revenue and has accumulated a deficit of $563,453 as of August 31, 2017. The Company requires capital for its contemplated operational and marketing activities. The Company’s ability to raise additional capital through the future issuances of common stock is unknown. The obtainment of additional financing, the successful development of the Company’s contemplated plan of operations, and its transition, ultimately, to the attainment of profitable operations are necessary for the Company to continue operations. These conditions and the ability to successfully resolve these factors raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements of the Company do not include any adjustments that may result from the outcome of these uncertainties.


The Company has discussed ways in order to mitigate conditions or events that may raise substantial doubt about its ability to continue as a going concern, there are no assurances that any of these measures will successfully mitigate or be effective at all. (1) The Company shall pursue financing plans to raise funds to judiciously spend towards operational expenses, (2) The Company shall continue to employ low cost measures to operate its business and analyze any unnecessary cost or expense, (3) The Company will seek to avoid unnecessary expenditures, travel, and lodging costs that are not mission critical to its business.


NOTE 4 – RELATED PARTY TRANSACTIONS


On May 28, 2014, the Company executed a service agreement with Strategic-IT Group Inc. Strategic-IT Group Inc. is owned and operated by Rama Mohan Busa, CEO. Services to be provided at $12,000 a month include, but are not limited to, providing office space, IT and related services, business consulting, and investor relations. As of August 31, 2017, the Company has an accrued, unpaid balance due of $468,000.


During the six months ended August 31, 2017, Rama Mohan R. Busa, CEO, advanced the Company $62,193 from his personal account and related companies. The advance was to pay for operating expenses, is unsecured, non-interest bearing and is due on demand.


NOTE 5 – SUBSEQUENT EVENTS


In accordance with SFAS 165 (ASC 855-10) management has performed an evaluation of subsequent events through the date that the financial statements were available to be issued, October 11, 2017, and has determined that it does not have any material subsequent events to disclose in these financial statements other than the following.


As reported in the Company’s Form 8-K which was filed with the SEC on October 3, 2017, on September 26, 2017 (listed by mistake as September 26, 2016 on the cover page of the Form 8-K) as the majority shareholder and sole director, Mr. Rama Mohan R. Busa signed a Consent to amend the Company’s corporate name from Vetro, Inc. to Anvi Global Holdings, Inc., to increase its authorized common shares to 500,000,000, to effect a 9-for-1 forward split of the Company’s 10,550,000 issued and outstanding common shares, and to authorize 50,000,000 Preferred Shares. The Amended and Restated Articles of Incorporation were filed with the State of Nevada on September 27, 2017, and the Company submitted an application to FINRA, to authorize a new trading symbol and the forward split. That application is pending as of the date of filing this Form 10-Q Quarterly Report.







5



 


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


Special Note Regarding Forward-Looking Statements

 

The following discussion should be read in conjunction with our unaudited financial statements, which are included elsewhere in this Form 10-Q (the “Report”). This Report contains forward-looking statements which relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.


Anvi Global Holdings, Inc.(the “Company”) was incorporated under the laws of the State of Nevada on August 15, 2012, and intended to sell crepes in Czech Republic. That proposed business was abandoned when a change of control of the Company was effected May 6, 2014.

 

Results of Operations

 

Three months ended August 31, 2017 compared to the three months ended August 31, 2016

 

Revenues

We have had no revenues to date. We are completely dependent upon the willingness of our management to fund our initial operations by way of loans from our Chief Executive Officer, shareholders and/or others.

  

Operating Expenses

General and administrative expenses were $47,223 for the three months ended August 31, 2017 compared to $36,000 for the three months ended August 31, 2016. In the current period, we incurred $36,000 of expense from our service agreement with Strategic-IT Group Inc. (Note 4) and other various professional fees. In the prior period, we incurred only the $36,000 from our service agreements with Strategic-IT Group Inc.

 

Net Loss

Our net loss for the three months ended August 31, 2017 was $47,223 compared to $36,000 for the three months ended August 31, 2016.


Six months ended August 31, 2017 compared to the six months ended August 31, 2016

 

Revenues

We have had no revenues to date. We are completely dependent upon the willingness of our management to fund our initial operations by way of loans from our Chief Executive Officer, shareholders and/or others.

  

Operating Expenses

General and administrative expenses were $133,953 for the six months ended August 31, 2017 compared to $72,000 for the six months ended August 31, 2016. In the current period, we incurred $72,000 of expense from our service agreement with Strategic-IT Group Inc. (Note 4) and other various professional fees. In the prior period, we incurred only the $72,000 from our service agreements with Strategic-IT Group Inc.

 

Net Loss

Our net loss for the six months ended August 31, 2017 was $133,953 compared to $72,000 for the six months ended August 31, 2016.





6



 


Liquidity and Capital Resources

 

Cash Flows from Operating Activities

We have not generated positive cash flows from operating activities. For the six-month period ended August 31, 2017, net cash flows used in operating activities was $61,953.


Cash Flows from Financing Activities

For the six-month period ended August 31, 2017, our CEO advanced the Company $62,193.

 

Plan of Operation and Funding

 

We do not currently engage in enough business activities that provide cash flow. During the next twelve months we anticipate incurring costs related to:


(i) filing of Exchange Act reports, and

(ii) costs relating to developing our business plan


We believe we will be able to meet these costs through amounts, as necessary, to be loaned to or invested in us by our controlling shareholder.


ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK


None.


ITEM 4. CONTROLS AND PROCEDURES


Evaluation of Disclosure Controls and Procedures

 

As required by Rule 13a-15 under the Securities Exchange Act of 1934, we have carried out an evaluation of the effectiveness of our disclosure controls and procedures as of the end of the period covered by this quarterly report, August 31, 2017. This evaluation was carried out under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer.

 

Disclosure controls and procedures are controls and other procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted 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. Disclosure controls and procedures include controls and procedures designed to ensure that information required to be disclosed in our company’s reports filed under the Securities Exchange Act of 1934 is accumulated and communicated to management, including our Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosure.

 

Based upon that evaluation, including our Chief Executive Officer and Chief Financial Officer, we have concluded that our disclosure controls and procedures were ineffective as of the end of the period covered by this report due to a material weakness in our internal control over financial reporting, which is described below.

 

Management’s Report on Internal Control over Financial Reporting

 

Our management is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Rule 13a-15(f) under the Securities Exchange Act of 1934). Management has assessed the effectiveness of our internal control over financial reporting as of August 31, 2017, based on criteria established in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission. As a result of this assessment, management concluded that, as of August 31, 2017, our internal control over financial reporting was not effective. Our management identified the following material weaknesses in our internal control over financial reporting, which are indicative of many small companies with small staff: (i) inadequate segregation of duties and effective risk assessment; and (ii) insufficient written policies and procedures for accounting and financial reporting with respect to the requirements and application of both US GAAP and SEC guidelines.

 



7



 


We plan to take steps to enhance and improve the design of our internal control over financial reporting. During the period covered by this quarterly report on Form 10-Q, we have not been able to remediate the material weaknesses identified above. To remediate such weaknesses, we hope to implement the following changes during our fiscal year ending February 28, 2018: (i) appoint additional qualified personnel to address inadequate segregation of duties and ineffective risk management; and (ii) adopt sufficient written policies and procedures for accounting and financial reporting. The remediation efforts set out in (i) and (ii) are largely dependent upon our securing additional financing to cover the costs of implementing the changes required. If we are unsuccessful in securing such funds, remediation efforts may be adversely affected in a material manner.

 

Changes in Internal Control over Financial Reporting

 

There were no changes in our internal control over financial reporting during the quarter ended August 31, 2017 that have materially affected or are reasonably likely to materially affect, our internal control over financial reporting.









8



 


PART II. OTHER INFORMATION


ITEM 1. LEGAL PROCEEDINGS


There are not presently any material pending legal proceedings to which the Registrant is a party or as to which any of its property is subject, and no such proceedings are known to the Registrant to be threatened or contemplated against it.


ITEM 1A. RISK FACTORS


A smaller reporting company is not required to provide the information required by 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


Not applicable.


ITEM 5. OTHER INFORMATION


As reported in the Company’s Form 8-K which was filed with the SEC on October 3, 2017, on September 26, 2017 as the majority shareholder and sole director, Mr. Rama Mohan R. Busa signed a Consent to amend the Company’s corporate name from Vetro, Inc. to Anvi Global Holdings, Inc., to increase its authorized common shares to 500,000,000, to effect a 9-for-1 forward split of the Company’s 10,550,000 issued and outstanding common shares, and to authorize 50,000,000 Preferred Shares.  The Amended and Restated Articles of Incorporation were filed with the State of Nevada on September 27, 2017, and the Company submitted an application to FINRA, to authorize a new trading symbol and the forward split. That application is pending as of the date of filing this Form 10-Q Quarterly Report. 


ITEM 6. EXHIBITS


Exhibit

Exhibit Description

Filed
herewith

Form

Period
ending

Exhibit

Filing
date

31.1

Certification of the Chief Executive Officer and Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

X

 

 

 

 

32.1

Certification of the Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

X

 

 

 

 

101.INS

XBRL Instance Document

X

 

 

 

 

101.SCH

XBRL Taxonomy Extension Schema Document

X

 

 

 

 

101.CAL

XBRL Taxonomy Extension Calculation Linkbase Document

X

 

 

 

 

101.LAB

XBRL Taxonomy Extension Label Linkbase Document

X

 

 

 

 

101.PRE

XBRL Taxonomy Extension Presentation Linkbase Document

X

 

 

 

 

101.DEF

XBRL Taxonomy Extension Definition Linkbase Definition

X

 

 

 

 




9



 


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.


 

ANVI GLOBAL HOLDINGS, INC.

 

 

 

Dated: October 11, 2017

By:

/s/ Rama Mohan R. Busa

 

 

Rama Mohan R. Busa

 

 

President, Chief Executive Officer, Chief Financial Officer and Chairman of the Board of Directors








10


EX-31.1 2 vtrq_ex31z1.htm CERTIFICATION Certification

 


Exhibit 31.1


CERTIFICATION


I, Rama Mohan R. Busa, Chief Executive Officer and Chief Financial Officer of ANVI GLOBAL HOLDINGS, INC., certify that:


1. I have reviewed this Quarterly Report on Form 10-Q of ANVI GLOBAL HOLDINGS, INC.;


2. Based on my knowledge, this report does not contain any untrue statement of 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. I am 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 control and procedures to be designed under my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to me 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 my 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 my 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;


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. I have disclosed, based on my 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: October 11, 2017


/s/ Rama Mohan R. Busa

 

Rama Mohan R. Busa,

 

Chief Executive Officer and

 

Chief Financial Officer

 





EX-32.1 3 vtrq_ex32z1.htm CERTIFICATION Certification

 


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 Quarterly Report of ANVI GLOBAL HOLDINGS, INC. (the "Company") on Form 10-Q for the period ended August 31, 2017 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), the undersigned, in the capacities and on the dates indicated below, hereby certifies pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to his knowledge:


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 results of operations of the Company.


Date: October 11, 2017


/s/ Rama Mohan R. Busa

 

Rama Mohan R. Busa,

 

Chief Executive Officer and

 

Chief Financial Officer

 





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ORGANIZATION AND DESCRIPTION OF BUSINESS
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ORGANIZATION AND DESCRIPTION OF BUSINESS

NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS

 

Anvi Global Holdings, Inc., (the “Company”) was incorporated under the laws of the State of Nevada on August 15, 2012, and intended to sell crepes in Czech Republic. That proposed business was abandoned when a change of control of the Company was effected May 6, 2014.

 

On April 30, 2014, Tatiana Fumioka (the “Seller”), entered into a Common Stock Purchase Agreement (the “Stock Purchase Agreement”) pursuant to which the Seller agreed to sell to Mr. Rama Mohan R. Busa (the “Purchaser”), with his principal place of business in Cary, NC, the 8,000,000 shares of common stock of the Company owned by Ms. Fumioka, constituting approximately 75.83% of the Company’s outstanding common stock to be transferred to the name of Mr. Rama Mohan R. Busa, for $375,000. The sale was consummated on May 6, 2014. As a result of the sale, there was a change of control of the Registrant. This was a private transaction between the Seller and Purchaser, and no new shares of the Company were sold or issued.

 

On September 27, 2017 the Company changed its name from Vetro Inc. to Anvi Global Holdings, Inc.

 

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Basis of Presentation

The Company’s unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The preparation of 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 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. The accompanying unaudited condensed 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 February 28, 2018. These unaudited condensed financial statements should be read in conjunction with the financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended February 28, 2017.

 

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.  Significant estimates include the estimated useful lives of property and equipment.  Actual results could differ from those estimates.

 

Recent Accounting Pronouncements

The Company has reviewed all recently issued accounting pronouncements and plans to adopt those that are applicable to it. The Company does not expect the adoption of any other pronouncements to have an impact on its results of operations or financial position. 

 

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NOTE 3 - GOING CONCERN

 

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has had no revenue and has accumulated a deficit of $563,453 as of August 31, 2017. The Company requires capital for its contemplated operational and marketing activities. The Company’s ability to raise additional capital through the future issuances of common stock is unknown. The obtainment of additional financing, the successful development of the Company’s contemplated plan of operations, and its transition, ultimately, to the attainment of profitable operations are necessary for the Company to continue operations. These conditions and the ability to successfully resolve these factors raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements of the Company do not include any adjustments that may result from the outcome of these uncertainties.

 

The Company has discussed ways in order to mitigate conditions or events that may raise substantial doubt about its ability to continue as a going concern, there are no assurances that any of these measures will successfully mitigate or be effective at all. (1) The Company shall pursue financing plans to raise funds to judiciously spend towards operational expenses, (2) The Company shall continue to employ low cost measures to operate its business and analyze any unnecessary cost or expense, (3) The Company will seek to avoid unnecessary expenditures, travel, and lodging costs that are not mission critical to its business.

 

XML 18 R9.htm IDEA: XBRL DOCUMENT v3.8.0.1
RELATED PARTY TRANSACTIONS
6 Months Ended
Aug. 31, 2017
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 4 – RELATED PARTY TRANSACTIONS

 

On May 28, 2014, the Company executed a service agreement with Strategic-IT Group Inc. Strategic-IT Group Inc. is owned and operated by Rama Mohan Busa, CEO. Services to be provided at $12,000 a month include, but are not limited to, providing office space, IT and related services, business consulting, and investor relations. As of August 31, 2017, the Company has an accrued, unpaid balance due of $468,000.

 

During the six months ended August 31, 2017, Rama Mohan R. Busa, CEO, advanced the Company $62,193 from his personal account and related companies. The advance was to pay for operating expenses, is unsecured, non-interest bearing and is due on demand.

 

XML 19 R10.htm IDEA: XBRL DOCUMENT v3.8.0.1
SUBSEQUENT EVENTS
6 Months Ended
Aug. 31, 2017
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 5 – SUBSEQUENT EVENTS

 

In accordance with SFAS 165 (ASC 855-10) management has performed an evaluation of subsequent events through the date that the financial statements were available to be issued, October 11, 2017, and has determined that it does not have any material subsequent events to disclose in these financial statements other than the following.

 

As reported in the Company’s Form 8-K which was filed with the SEC on October 3, 2017, on September 26, 2017 (listed by mistake as September 26, 2016 on the cover page of the Form 8-K) as the majority shareholder and sole director, Mr. Rama Mohan R. Busa signed a Consent to amend the Company’s corporate name from Vetro, Inc. to Anvi Global Holdings, Inc., to increase its authorized common shares to 500,000,000, to effect a 9-for-1 forward split of the Company’s 10,550,000 issued and outstanding common shares, and to authorize 50,000,000 Preferred Shares. The Amended and Restated Articles of Incorporation were filed with the State of Nevada on September 27, 2017, and the Company submitted an application to FINRA, to authorize a new trading symbol and the forward split. That application is pending as of the date of filing this Form 10-Q Quarterly Report.

 

XML 20 R11.htm IDEA: XBRL DOCUMENT v3.8.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
6 Months Ended
Aug. 31, 2017
Summary Of Significant Accounting Policies Policies  
Basis of Presentation

Basis of Presentation

The Company’s unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The preparation of 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 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. The accompanying unaudited condensed 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 February 28, 2018. These unaudited condensed financial statements should be read in conjunction with the financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended February 28, 2017.

 

Use of Estimates

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.  Significant estimates include the estimated useful lives of property and equipment.  Actual results could differ from those estimates.

 

Recent Accounting Pronouncements

Recent Accounting Pronouncements

The Company has reviewed all recently issued accounting pronouncements and plans to adopt those that are applicable to it. The Company does not expect the adoption of any other pronouncements to have an impact on its results of operations or financial position.

XML 21 R12.htm IDEA: XBRL DOCUMENT v3.8.0.1
ORGANIZATION AND DESCRIPTION OF BUSINESS (Details) - Mr. Rama Mohan R Busa, CEO of ANVI Global, Inc. [Member]
May 06, 2014
USD ($)
shares
Shares of common stock sold | shares 8,000,000
Ownership percentage sold 75.83%
Value of common stock sold | $ $ 375,000
XML 22 R13.htm IDEA: XBRL DOCUMENT v3.8.0.1
GOING CONCERN (Details) - USD ($)
Aug. 31, 2017
Feb. 28, 2017
Going Concern Details    
Accumulated deficit $ 563,453 $ 429,500
XML 23 R14.htm IDEA: XBRL DOCUMENT v3.8.0.1
RELATED PARTY TRANSACTIONS (Details) - USD ($)
6 Months Ended
Aug. 31, 2017
Feb. 28, 2017
Related Party Transaction [Line Items]    
Loan from officer $ 62,193
Monthly fee 12,000  
Accrued, unpaid balance $ 468,000 $ 396,000
XML 24 R15.htm IDEA: XBRL DOCUMENT v3.8.0.1
SUBSEQUENT EVENTS (Details) - shares
Sep. 26, 2017
Aug. 31, 2017
Feb. 28, 2017
Common stock, shares authorized   75,000,000 75,000,000
Subsequent Event Member      
Common stock, shares authorized 500,000,000    
Stock split to effect a 9-for-1 forward split of the Company’s 10,550,000 issued and outstanding common shares    
Preferred stock, shares authorized 50,000,000    
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