10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

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

For the quarterly period ended December 31, 2018

Commission File Number 000-56002

COSMO VENTURES Inc.

(Exact name of registrant as specified in its charter)

Nevada	33-1227173
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

112 North Curry Street, Carson City, Nevada 89703

(Address of principal executive offices) (Zip Code)

800-582-3042

(Registrant’s telephone number, including area code)

N/A

(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     x 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 (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). ¨ Yes     x 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	x
		Emerging growth company	¨

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

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

As of February 13, 2019, there were 13,000,000 shares of common stock issued and outstanding.

TABLE OF CONTENTS

PART I—FINANCIAL INFORMATION
Item 1.	Financial Statements.	3
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations.	4
Item 3.	Quantitative and Qualitative Disclosures About Market Risk.	5
Item 4.	Controls and Procedures.	5
PART II—OTHER INFORMATION
Item 1.	Legal Proceedings.	7
Item 1A.	Risk Factors.	7
Item 2.	Unregistered Sales of Securities and Use of Proceeds.	7
Item 3.	Defaults Upon Senior Securities.	7
Item 4.	Mining Safety Disclosure.	7
Item 5.	Other Information.	7
Item 6.	Exhibits.	8

2

PART I—FINANCIAL INFORMATION

Item 1. Financial Statements.

Cosmo Ventures Inc.

FINANCIAL STATEMENTS

CONTENTS

Balance Sheets - As of December 31, 2018 and March 31, 2018 (unaudited)	F-1
Statements of Operations - For the Three and Nine Months ended December 31, 2018 and 2017 (unaudited)	F-2
Statements of Changes in Stockholders’ Deficit	F-3
Statements of Cash Flows - For the Nine Months ended December 31, 2018 and 2017 (unaudited)	F-5
Notes to Financial Statements (unaudited)	F-6

3

COSMO VENTURES INC.

BALANCE SHEETS

As of December 31, 2018 and March 31, 2018

(unaudited)

	December 31, 2018			March 31, 2018
ASSETS
CURRENT ASSETS
Cash	$	101		$	756
TOTAL ASSETS	$	101		$	756
LIABILITIES AND STOCKHOLDERS’ DEFICIT
CURRENT LIABILITIES
Accounts payable	$	10,718		$	4,748
Due to related party		44,072			32,699
TOTAL CURRENT LIABILITIES		54,790			37,447
STOCKHOLDERS’ DEFICIT
Common stock - 75,000,000 shares authorized, $0.001 par value; 13,000,000 shares issued and outstanding		13,000			13,000
Additional paid-in capital		12,000			12,000
Accumulated deficit		(79,689	)		(61,691	)
TOTAL STOCKHOLDERS’ DEFICIT		(54,689	)		(36,691	)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	$	101		$	756

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

F-1

COSMO VENTURES INC.

STATEMENTS OF OPERATIONS

For Three and Nine Months ended December 31, 2018 and 2017

(unaudited)

	Three months ended December 31,						Nine months ended December 31,
OPERATING EXPENSES	2018			2017			2018			2017
General and administrative	$	4,908		$	5,802		$	17,998		$	15,848
TOTAL OPERATING EXPENSES		4,908			5,802			17,998			15,848
NET LOSS	$	(4,908	)	$	(5,802	)	$	(17,998	)	$	(15,848	)
LOSS PER COMMON SHARE – BASIC AND DILUTED	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	(0.00	)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING – BASIC AND DILUTED		13,000,000			13,000,000			13,000,000			13,000,000

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

F-2

COSMOS VENTURES INC.

STATEMENTS OF CHANGES IN STOCKHOLDERS’ DEFICIT

For the Nine-month period Ended December 31, 2018

	Common Stock				Additional
	Number of shares		Amount		Paid-in Capital		Accumulated Deficit			Total
Balance, April 1, 2018		13,000,000	$	13,000	$	12,000	$	(61,691	)	$	(36,691	)
Net loss		-		-		-		(8,798	)		(8,798	)
Balance, June 30 2018		13,000,000	$	13,000	$	12,000	$	(70,489	)	$	(45,489	)
Net loss		-		-		-		(4,292	)		(4,292	)
Balance, September 30, 2018		13,000,000	$	13,000	$	12,000	$	74,781		$	(49,781	)
Net Loss		-		-		-		(4,908	)		(4,908	)
Balance, December 31, 2018		13,000,000	$	13,000	$	12,000	$	(79,689	)	$	(54,689	)

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

F-3

STATEMENTS OF CHANGES IN STOCKHOLDERS’ DEFICIT

For the Nine-month period Ended December 31, 2017

	Common Stock				Additional
	Number of shares		Amount		Paid-in Capital		Accumulated Deficit			Total
Balance, April 1, 2017		13,000,000	$	13,000	$	12,000	$	(42,438	)	$	(17,438	)
Net loss		-		-		-		(6,796	)		(6,796	)
Balance, June 30 2017		13,000,000	$	13,000	$	12,000	$	(49,234	)	$	(24,234	)
Net loss		-		-		-		(3,250	)		(3,250	)
Balance, September 30, 2017		13,000,000	$	13,000	$	12,000	$	(52,484	)	$	(27,484	)
Net Loss		-		-		-		(5,802	)		(5,802	)
Balance, December 31, 2017		13,000,000	$	13,000	$	12,000	$	(58,286	)	$	(33,286	)

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

F-4

COSMO VENTURES INC.

STATEMENTS OF CASH FLOWS

For the Nine Months ended December 31, 2018 and 2017

(unaudited)

	Nine months ended December 31, 2018			Nine months ended December 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$	(17,998	)	$	(15,848	)
Adjustments to reconcile net loss to net cash used in operating activities:
Changes in operating assets and liabilities:
Accounts payable		5,970			998
NET CASH USED IN OPERATING ACTIVITIES		(12,028	)		(14,850	)
CASH FLOWS FROM FINANCING ACTIVITIES
Advances from related party		11,373			15,455
NET CASH PROVIDED BY FINANCING ACTIVITIES		11,373			15,455
NET (DECREASE) INCREASE IN CASH		(655	)		605
CASH, BEGINNING OF PERIOD		756			151
CASH, END OF PERIOD	$	101		$	756
SUPPLEMENTAL CASH FLOW DISCLOSURES:
Cash paid for interest	$	-		$	-
Cash paid for income taxes	$	-		$	-

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

F-5

Cosmo Ventures Inc.

Notes to Financial Statements

(unaudited)

NOTE 1 – NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The Company

Cosmo Ventures Inc. (the “Company”) was incorporated in the State of Nevada on February 3, 2013, with a year end of March 31. The Company intends to purchase overstocked inventory items from manufacturers and retailers and offer them to the public at discounted prices via a web-based on-line store.

Basis of Presentation – Unaudited Financial Statements

The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles for financial information and with the instructions to Form 10-Q. They do not include all information and footnotes required by United States generally accepted accounting principles for complete financial statements. However, except as disclosed herein, there has been no material changes in the information disclosed in the notes to the financial statements for the fiscal year ended March 31, 2018 included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission. The unaudited financial statements should be read in conjunction with those financial statements included in the Form 10-K. In the opinion of Management, all adjustments considered necessary for a fair presentation, consisting solely of normal recurring adjustments, have been made. Operating results for the nine months ended December 31, 2018 are not necessarily indicative of the results that may be expected for the year ending March 31, 2019.

Use of Estimates and Assumptions

Preparation of the financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain 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 period. Accordingly, actual results could differ from those estimates.

Cash and Cash Equivalents

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

Loss per Common Share

The basic loss per common share is calculated by dividing the Company’s net loss available to common shareholders by the weighted average number of common shares during the period. The diluted loss per share is calculated by dividing the Company’s net loss available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. Diluted loss per share are the same as basic loss per share due to the lack of dilutive items in the Company. As of December 31, 2018, and 2017, there were no common stock equivalents outstanding.

Income Taxes

The Company follows the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax balances and tax loss carry-forwards.

F-6

NOTE 1 – NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont’d)

Income Taxes (continued)

Deferred tax assets and liabilities are measured using enacted or substantially enacted tax rates expected to apply to the taxable income in the years in which those differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the date of enactment or substantive enactment.

Stock-based Compensation

The Company estimates the fair value of each stock-based compensation award at the grant date by using Black-Scholes Option Pricing Model. The fair value determined represents the cost of the award and is recognized over the vesting period during which an employee is required to provide service in exchange for the award. As stock-based compensation expense is recognized based on awards ultimately expected to vest. Excess tax benefits, if any, are recognized as additional paid in capital.

Recent Accounting Pronouncements

The Company does not expect the adoption of any recent accounting pronouncements to have a material impact on its financial statements.

Subsequent Events

The Company has evaluated subsequent events through the date the financial statements were issued for disclosure consideration.

NOTE 2 – GOING CONCERN

The accompanying unaudited 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. To date the Company has generated no revenues from its business operations and has incurred operating losses of $79,689 since inception. As of December 31, 2018, the Company had only $101 in cash, a working capital deficit of $54,689 and had a negative cash flow from operating activities since inception. The Company requires additional funding to meet its ongoing obligations and to fund anticipated operating losses. The ability of the Company to continue as a going concern is dependent on raising capital to fund its initial business plan and ultimately to attain profitable operations. Accordingly, these factors raise substantial doubt as to the Company’s ability to continue as a going concern. The Company intends to continue to fund its business by way of private placements and advances from related parties as may be required. However, the Company may not be able to secure the necessary financing. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might result from this uncertainty.

NOTE 3 – RELATED PARTY TRANSACTIONS

The Company’s former CEO had loaned the Company cash to support operations. Balances as of December 31, 2018 and March 31, 2018 were $31,569 and $31,569, respectively. The balance due is unsecured and non-interest-bearing with no set terms of repayment.

During the nine months ended December 31, 2018, the Company’s CEO loaned the Company $11,373. Balances as of December 31, 2018 and March 31, 2018 were $12,503 and $1,130, respectively. The balance due is unsecured and non-interest-bearing with no set terms of repayment. 

F-7

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

This section of this Form 10-Q includes a number of forward-looking statements that reflect our current views with respect to future events and financial performance. Forward-looking statements are often identified by words like believe, expect, estimate, anticipate, intend, project and similar expressions, or words which, by their nature, refer to future events. You should not place undue certainty on these forward-looking statements. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our predictions.

Business Overview

Cosmo Ventures Inc. (“Cosmo Ventures” or the “Company”) was incorporated in the State of Nevada on February 3, 2013. We are an early stage company that plans to commence operations as an online retailer offering discounted overstocked inventory items. We intend to launch a web-based platform that will give our potential customers the ability to purchase our discounted products. Cosmo Ventures Inc. will procure merchandise purchased from the surplus inventories of manufacturers and retailers throughout India.

Although the sale of discounted overstock products in an online marketplace is not entirely new, we anticipate that this medium will continue to grow. We believe that by providing a simple, yet effective, website platform, Cosmo Ventures will become a sought-after marketplace for our e-consumers. Most cellular phones are equipped to handle text messages, emails, and mobile websites that contain information on our products. Having the ability to instantly contact potential customers both locally and nationwide is one of the major benefits of this marketing strategy. Cosmo Ventures can send instant coupons, promotional messages, and much more online to our opt-in subscribers.

We hope to realize our full plan of operations by raising additional funds through the additional sale of our Company stock. We will design a full marketing strategy to gain brand awareness, and ultimately obtain a large opt-in subscriber base.

Results of Operations

For the three-month periods ended December 31, 2018 and December 31, 2017, we had no revenue. Expenses for the three-month period ended December 31, 2018 totaled $4,908 resulting in a net loss of $4,908, compared to expenses for the three-month period ended December 31, 2017, totaled $5,802 resulting in a net loss of $5,802. The net loss for the three-month period ended December 31, 2018 is a result of office and general expense of $4,908 comprised primarily of accounting fees of $3,957, filing fees of $862; telephone expenses of $71; and bank service charges of $18; compared to expenses for the three-months ended December 31, 2017 is a result of office and general expenses of $5,802 comprised primarily of accounting fees of $4,850; filing fees of $895; and telephone expenses of $57. The decrease in expenses for the three-month period ended December 31, 2018 compared to December 31, 2017 is primarily due to the decrease in accounting fees.

For the nine-month periods ended December 31, 2018 and December 31, 2017, we had no revenue. Expenses for the nine-month period ended December 31, 2018 totaled $17,998 resulting in a net loss of $17,998, compared to expenses for the nine-month period ended December 31, 2017, totaled $15,848 resulting in a net loss of $15,848. The net loss for the nine-month period ended December 31, 2018 is a result of general and administrative expense of $17,998 comprised primarily of accounting fees of $14,757, filing fees of $2,871; telephone expenses of $151; office supplies of $25; and bank service charges of $194, compared to expenses for the nine months ended December 31, 2017 is a result of general and administrative expenses of $15,848 comprised primarily of accounting fees of $11,650, filing fees of $3,965; telephone expenses of $57; and bank service charges of $176, The increase in office and general expenses was primarily due to the increase in expenses relating to accounting fees.

4

Capital Resources and Liquidity

There is substantial doubt that we can continue as an on-going business for the next twelve months unless we obtain additional capital. No substantial revenues are anticipated until we have implemented our plan of operations. With the exception of cash advances from our sole Officer and Director, our only source for cash at this time is investments by others by way of private placements. Since inception, we have raised $25,000 through the sale of Company’s common stock. We must raise additional cash to implement our strategy and stay in business.

On June 5, 2018, Ashok Kumar acquired 10,000,000 shares of common stock from the Company’s former President Sonu Ram, par value $0.001 per share. The consideration provided by Mr. Kumar to Mr. Ram was $10,000 in cash. The acquisition by Mr. Kumar of those shares resulted in a change in control.

As of December 31, 2018, we had $101 in cash as compared to $756 in cash at March 31, 2018. The funds available to the Company will not be sufficient to fund the planned operations of the Company and maintain a reporting status. As of December 31, 2018, the Company’s former officer and director, Mr. Ram has loaned the Company $31,569 and the current officer and director Mr. Kumar has loaned the Company $12,503 and Mr. Kumar has indicated that he may be willing to provide a maximum of $75,000, required to maintain the reporting status, in the form of a non-secured loan for the next twelve months as the expenses are incurred if no other proceeds are obtained by the Company. However, there is no contract or written agreement in place.

We anticipate that we will begin the development of our proposed business plan to purchase overstocked inventory items and offer them to the public via a web-based on-line store and hire additional consultants to setup out website within the next 180 days.

Off-balance sheet arrangements

Other than the situation described in the section titled Capital Recourses and Liquidity, the company has no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect or change on the company’s financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors. The term “off-balance sheet arrangement” generally means any transaction, agreement or other contractual arrangement to which an entity unconsolidated with the company is a party, under which the company has (i) any obligation arising under a guarantee contract, derivative instrument or variable interest; or (ii) a retained or contingent interest in assets transferred to such entity or similar arrangement that serves as credit, liquidity or market risk support for such assets

Critical Accounting Policies and Estimates

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

Risks

As a “smaller reporting company,” as defined in Rule 12b-2 of the Exchange Act, we are not required to provide the information called for by this Item.

Item 3. Quantitative and Qualitative Disclosures about Market Risk.

We are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information required under this item.

Item 4. Controls and Procedures.

Disclosure Controls and Procedures

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 period specified in the SEC's rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed in our reports filed or submitted under the Securities Exchange Act of 1934 is accumulated and communicated to management including our principal executive officer and principal financial officer as appropriate, to allow timely decisions regarding required disclosure.

5

In connection with this quarterly report, as required by Rule 15d-15 under the Securities Exchange Act of 1934, we have carried out an evaluation of the effectiveness of the design and operation of our company's disclosure controls and procedures. The material weaknesses in our disclosure control procedures are as follows:

1. Lack of formal policies and procedures necessary to adequately review significant accounting transactions. We utilize a third-party independent contractor for the preparation of our financial statements. Although the financial statements and footnotes are reviewed by our management, we do not have a formal policy to review significant accounting transactions and the accounting treatment of such transactions. The third-party independent contractor is not involved in our day to day operations and may not be provided information from our management on a timely basis to allow for adequate reporting/consideration of certain transactions.

2. Lack of audit committee and financial expert. We do not have an audit committee with a financial expert and, thus, we lack the appropriate oversight within the financial reporting process.

We intend to initiate measures to remediate the identified material weaknesses, including, but not necessarily limited to, the following:

· Establishing a formal review process of significant accounting transactions that includes participation of our principal executive officer, principal financial officer and corporate legal counsel.

· Form an audit committee that will establish policies and procedures that will provide our Board of Directors with a formal review process that will among other things, assure that management controls and procedures are in place and being maintained consistently.

Changes in Internal Control Over Financial Reporting

On June 5, 2018, Ashok Kumar acquired 10,000,000 shares of common stock from the Company’s former President Sonu Ram, par value $0.001 per share. As a result, the Company’s CEO is now Ashok Kumar as of June 5, 2018. The acquisition by Mr. Kumar of those shares resulted in a change in control.

6

PART II—OTHER INFORMATION

Item 1. Legal Proceedings.

Currently, we are not involved in any pending litigation or legal proceeding.

Item 1A. Risk Factors.

We are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information required under this item.

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

None

Item 3. Defaults Upon Senior Securities.

None

Item 4. Mine Safety Disclosures

None

Item 5. Other Information.

On June 5, 2018, Ashok Kumar acquired 10,000,000 shares of common stock from the Company’s former President, Sonu Ram, at par value of $0.001 per share. The consideration provided by Mr. Kumar to Mr. Ram was $10,000 in cash. The acquisition by Mr. Kumar of those shares resulted in a change in control.

7

Item 6. Exhibits.

31.1	Rule 13(a)-14(a)/15(d)-14(a) Certification of Chief Executive Officer
31.2	Rule 13(a)-14(a)/15(d)-14(a) Certification of Chief Financial Officer *
32.1	Section 1350 Certification of Chief Executive Officer
32.2	Section 1350 Certification of Chief Financial Officer **
101	Interactive data files pursuant to Rule 405 of Regulation S-T.

________

* Included in Exhibit 31.1

** Included in Exhibit 32.1

8

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. 

	Cosmo Ventures Inc. (Registrant)
Date: February 13, 2019	By:	/s/ Ashok Kumar
		Ashok Kumar
		President and Director Principal and Executive Officer Principal Financial Officer Principal Accounting Officer

9

EX-31.1

EXHIBIT 31.1

CERTIFICATIONS

I, Ashok Kumar, certify that:

1.	I have reviewed this quarterly report of Cosmo Ventures 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.	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 the 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 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 controls and procedures, or caused such disclosure controls and procedures 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 registrants most recent fiscal quarter 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 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 equivalent functions):

a)	All significant deficiencies and material weaknesses in the design or operation of internal controls 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 13, 2019	By:	/s/ Ashok Kumar
		Ashok Kumar
		President, Secretary Treasurer, Principal Executive Officer,
		Principal Financial Officer and Director

EX-32.1

EXHIBIT 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report on Form 10-Q for the period ended December 31, 2018 of Cosmo Ventures Inc., a Nevada corporation (the "Company"), as filed with the Securities and Exchange Commission on the date hereof (the "Quarterly Report"), I, Ashok Kumar, President and Chief Financial Officer of the Company certify, pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1.	The Quarterly Report fully complies with the requirements of Section 13(a) or15(d) of the Securities and Exchange Act of 1934, as amended; and
2.	The information contained in this Quarterly Report fairly presents, in all material respects, the financial condition and results of operation of the Company.

Date: February 13, 2019	By:	/s/ Ashok Kumar
		Ashok Kumar
		President, Secretary Treasurer, Principal Executive Officer,
		Principal Financial Officer and Director

XML

Document and Entity Information - shares	9 Months Ended
	Dec. 31, 2018	Feb. 13, 2019
Document And Entity Information
Entity Registrant Name	Cosmo Ventures Inc
Entity Central Index Key	0001575295
Document Type	10-Q
Document Period End Date	Dec. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		13,000,000
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2019
Entity Small Business	true
Entity Emerging Growth Company	false

XML

BALANCE SHEETS - USD ($)	Dec. 31, 2018	Mar. 31, 2018
CURRENT ASSETS
Cash	$ 101	$ 756
TOTAL ASSETS	101	756
CURRENT LIABILITIES
Accounts payable	10,718	4,748
Due to related party	44,072	32,699
TOTAL CURRENT LIABILITIES	54,790	37,447
STOCKHOLDERS' DEFICIT
Common stock - 75,000,000 shares authorized, $0.001 par value; 13,000,000 shares issued and outstanding	13,000	13,000
Additional paid-in capital	12,000	12,000
Accumulated deficit	(79,689)	(61,691)
TOTAL STOCKHOLDERS’ DEFICIT	(54,689)	(36,691)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	$ 101	$ 756

XML

BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2018	Mar. 31, 2018
STOCKHOLDERS' DEFICIT
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	13,000,000	13,000,000
Common stock, shares outstanding	13,000,000	13,000,000

XML

STATEMENTS OF OPERATIONS (unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
OPERATING EXPENSES
General and administrative	$ 4,908	$ 5,802	$ 17,998	$ 15,848
TOTAL OPERATING EXPENSES	4,908	5,802	17,998	15,848
NET LOSS	$ (4,908)	$ (5,802)	$ (17,998)	$ (15,848)
LOSS PER COMMON SHARE - BASIC AND DILUTED	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.00)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC AND DILUTED	13,000,000	13,000,000	13,000,000	13,000,000

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STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Beginning Balance, Shares at Mar. 31, 2017	13,000,000
Beginning Balance, Amount at Mar. 31, 2017	$ 13,000	$ 12,000	$ (42,438)	$ (17,438)
Net loss			(6,796)	(6,796)
Ending Balance, Shares at Jun. 30, 2017	13,000,000
Ending Balance, Amount at Jun. 30, 2017	$ 13,000	12,000	(49,234)	(24,234)
Beginning Balance, Shares at Mar. 31, 2017	13,000,000
Beginning Balance, Amount at Mar. 31, 2017	$ 13,000	12,000	(42,438)	(17,438)
Net loss				(15,848)
Ending Balance, Shares at Dec. 31, 2017	13,000,000
Ending Balance, Amount at Dec. 31, 2017	$ 13,000	12,000	(58,286)	(33,286)
Beginning Balance, Shares at Jun. 30, 2017	13,000,000
Beginning Balance, Amount at Jun. 30, 2017	$ 13,000	12,000	(49,234)	(24,234)
Net loss			(3,250)	(3,250)
Ending Balance, Shares at Sep. 30, 2017	13,000,000
Ending Balance, Amount at Sep. 30, 2017	$ 13,000	12,000	(52,484)	(27,484)
Net loss			(5,802)	(5,802)
Ending Balance, Shares at Dec. 31, 2017	13,000,000
Ending Balance, Amount at Dec. 31, 2017	$ 13,000	12,000	(58,286)	(33,286)
Beginning Balance, Shares at Mar. 31, 2018	13,000,000
Beginning Balance, Amount at Mar. 31, 2018	$ 13,000	12,000	(61,691)	(36,691)
Net loss			(8,798)	(8,798)
Ending Balance, Shares at Jun. 30, 2018	13,000,000
Ending Balance, Amount at Jun. 30, 2018	$ 13,000	12,000	(70,489)	(45,489)
Beginning Balance, Shares at Mar. 31, 2018	13,000,000
Beginning Balance, Amount at Mar. 31, 2018	$ 13,000	12,000	(61,691)	(36,691)
Net loss				(17,998)
Ending Balance, Shares at Dec. 31, 2018	13,000,000
Ending Balance, Amount at Dec. 31, 2018	$ 13,000	12,000	(79,689)	(54,689)
Beginning Balance, Shares at Jun. 30, 2018	13,000,000
Beginning Balance, Amount at Jun. 30, 2018	$ 13,000	12,000	(70,489)	(45,489)
Net loss			(4,292)	(4,292)
Ending Balance, Shares at Sep. 30, 2018	13,000,000
Ending Balance, Amount at Sep. 30, 2018	$ 13,000	12,000	74,781	(49,781)
Net loss			(4,908)	(4,908)
Ending Balance, Shares at Dec. 31, 2018	13,000,000
Ending Balance, Amount at Dec. 31, 2018	$ 13,000	$ 12,000	$ (79,689)	$ (54,689)

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STATEMENTS OF CASH FLOWS (unaudited) - USD ($)	9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (17,998)	$ (15,848)
Changes in operating assets and liabilities:
Accounts payable	5,970	998
NET CASH USED IN OPERATING ACTIVITIES	(12,028)	(14,850)
CASH FLOWS FROM FINANCING ACTIVITIES
Advances from related party	11,373	15,455
NET CASH PROVIDED BY FINANCING ACTIVITIES	11,373	15,455
NET (DECREASE) INCREASE IN CASH	(655)	605
CASH, BEGINNING OF PERIOD	756	151
CASH, END OF PERIOD	101	756
SUPPLEMENTAL CASH FLOW DISCLOSURES:
Cash Paid for interest
Cash paid for income taxes

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NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

9 Months Ended

Dec. 31, 2018

Notes to Financial Statements

NOTE 1 - NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The Company

Cosmo Ventures Inc. (the “Company”) was incorporated in the State of Nevada on February 3, 2013, with a year end of March 31. The Company intends to purchase overstocked inventory items from manufacturers and retailers and offer them to the public at discounted prices via a web-based on-line store.

Basis of Presentation – Unaudited Financial Statements

The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles for financial information and with the instructions to Form 10-Q. They do not include all information and footnotes required by United States generally accepted accounting principles for complete financial statements. However, except as disclosed herein, there has been no material changes in the information disclosed in the notes to the financial statements for the fiscal year ended March 31, 2018 included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission. The unaudited financial statements should be read in conjunction with those financial statements included in the Form 10-K. In the opinion of Management, all adjustments considered necessary for a fair presentation, consisting solely of normal recurring adjustments, have been made. Operating results for the nine months ended December 31, 2018 are not necessarily indicative of the results that may be expected for the year ending March 31, 2019.

Use of Estimates and Assumptions

Preparation of the financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain 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 period. Accordingly, actual results could differ from those estimates.

Cash and Cash Equivalents

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

Loss per Common Share

The basic loss per common share is calculated by dividing the Company’s net loss available to common shareholders by the weighted average number of common shares during the period. The diluted loss per share is calculated by dividing the Company’s net loss available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. Diluted loss per share are the same as basic loss per share due to the lack of dilutive items in the Company. As of December 31, 2018, and 2017, there were no common stock equivalents outstanding.

Income Taxes

The Company follows the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax balances and tax loss carry-forwards.

Deferred tax assets and liabilities are measured using enacted or substantially enacted tax rates expected to apply to the taxable income in the years in which those differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the date of enactment or substantive enactment.

Stock-based Compensation

The Company estimates the fair value of each stock-based compensation award at the grant date by using Black-Scholes Option Pricing Model. The fair value determined represents the cost of the award and is recognized over the vesting period during which an employee is required to provide service in exchange for the award. As stock-based compensation expense is recognized based on awards ultimately expected to vest. Excess tax benefits, if any, are recognized as additional paid in capital.

Recent Accounting Pronouncements

The Company does not expect the adoption of any recent accounting pronouncements to have a material impact on its financial statements.

Subsequent Events

The Company has evaluated subsequent events through the date the financial statements were issued for disclosure consideration.

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GOING CONCERN

9 Months Ended

Dec. 31, 2018

Notes to Financial Statements

NOTE 2 - GOING CONCERN

The accompanying unaudited 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. To date the Company has generated no revenues from its business operations and has incurred operating losses of $79,689 since inception. As of December 31, 2018, the Company had only $101 in cash, a working capital deficit of $54,689 and had a negative cash flow from operating activities since inception. The Company requires additional funding to meet its ongoing obligations and to fund anticipated operating losses. The ability of the Company to continue as a going concern is dependent on raising capital to fund its initial business plan and ultimately to attain profitable operations. Accordingly, these factors raise substantial doubt as to the Company’s ability to continue as a going concern. The Company intends to continue to fund its business by way of private placements and advances from related parties as may be required. However, the Company may not be able to secure the necessary financing. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might result from this uncertainty.

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RELATED PARTY TRANSACTIONS

9 Months Ended

Dec. 31, 2018

Notes to Financial Statements

NOTE 3 - RELATED PARTY TRANSACTIONS

The Company’s former CEO had loaned the Company cash to support operations. Balances as of December 31, 2018 and March 31, 2018 were $31,569 and $31,569, respectively. The balance due is unsecured and non-interest-bearing with no set terms of repayment.

During the nine months ended December 31, 2018, the Company’s CEO loaned the Company $11,373. Balances as of December 31, 2018 and March 31, 2018 were $12,503 and $1,130, respectively. The balance due is unsecured and non-interest-bearing with no set terms of repayment.

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NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

9 Months Ended

Dec. 31, 2018

Nature Of Operations And Summary Of Significant Accounting Policies

The Company

Cosmo Ventures Inc. (the “Company”) was incorporated in the State of Nevada on February 3, 2013, with a year end of March 31. The Company intends to purchase overstocked inventory items from manufacturers and retailers and offer them to the public at discounted prices via a web-based on-line store.

Basis of Presentation – Unaudited Financial Statements

The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles for financial information and with the instructions to Form 10-Q. They do not include all information and footnotes required by United States generally accepted accounting principles for complete financial statements. However, except as disclosed herein, there has been no material changes in the information disclosed in the notes to the financial statements for the fiscal year ended March 31, 2018 included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission. The unaudited financial statements should be read in conjunction with those financial statements included in the Form 10-K. In the opinion of Management, all adjustments considered necessary for a fair presentation, consisting solely of normal recurring adjustments, have been made. Operating results for the nine months ended December 31, 2018 are not necessarily indicative of the results that may be expected for the year ending March 31, 2019.

Use of Estimates and Assumptions

Preparation of the financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain 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 period. Accordingly, actual results could differ from those estimates.

Cash and Cash Equivalents

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

Loss per Common Share

The basic loss per common share is calculated by dividing the Company’s net loss available to common shareholders by the weighted average number of common shares during the period. The diluted loss per share is calculated by dividing the Company’s net loss available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. Diluted loss per share are the same as basic loss per share due to the lack of dilutive items in the Company. As of December 31, 2018, and 2017, there were no common stock equivalents outstanding.

Income Taxes

The Company follows the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax balances and tax loss carry-forwards.

Deferred tax assets and liabilities are measured using enacted or substantially enacted tax rates expected to apply to the taxable income in the years in which those differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the date of enactment or substantive enactment.

Stock-based Compensation

The Company estimates the fair value of each stock-based compensation award at the grant date by using Black-Scholes Option Pricing Model. The fair value determined represents the cost of the award and is recognized over the vesting period during which an employee is required to provide service in exchange for the award. As stock-based compensation expense is recognized based on awards ultimately expected to vest. Excess tax benefits, if any, are recognized as additional paid in capital.

Recent Accounting Pronouncements

The Company does not expect the adoption of any recent accounting pronouncements to have a material impact on its financial statements.

Subsequent Events

The Company has evaluated subsequent events through the date the financial statements were issued for disclosure consideration.

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NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	9 Months Ended
	Dec. 31, 2018
Nature Of Operations And Summary Of Significant Accounting Policies Details Narrative Abstract
State of incorporation	Nevada
Date of Incorporation	Feb. 03, 2013

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GOING CONCERN (Details Narrative) - USD ($)	71 Months Ended
	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Going Concern
Operating loss	$ (79,689)
Cash	101	$ 756	$ 756	$ 151
Working capital deficit	$ (54,689)

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RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Mar. 31, 2018
Due to related party	$ 44,072		$ 32,699
Proceeds from related party debt	11,373	$ 15,455
Chief Executive Officer [Member]
Due to related party	31,569		31,569
Proceeds from related party debt	11,373
Balance due to related party	$ 12,503		$ 1,130