0001640334-19-000031.txt : 20190114 0001640334-19-000031.hdr.sgml : 20190114 20190114103356 ACCESSION NUMBER: 0001640334-19-000031 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 29 CONFORMED PERIOD OF REPORT: 20181130 FILED AS OF DATE: 20190114 DATE AS OF CHANGE: 20190114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Fellazo Corp CENTRAL INDEX KEY: 0001659207 STANDARD INDUSTRIAL CLASSIFICATION: COMMERCIAL PRINTING [2750] IRS NUMBER: 000000000 STATE OF INCORPORATION: NV FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 333-208237 FILM NUMBER: 19524189 BUSINESS ADDRESS: STREET 1: 8TH FLOOR, WISMA HUAZONG, LOT 15285, STREET 2: LEBUHRAYA SUNGAI BESI, SERI KEMBANGAN CITY: SELANGOR STATE: N8 ZIP: 43300 BUSINESS PHONE: 60389559589 MAIL ADDRESS: STREET 1: 8TH FLOOR, WISMA HUAZONG, LOT 15285, STREET 2: LEBUHRAYA SUNGAI BESI, SERI KEMBANGAN CITY: SELANGOR STATE: N8 ZIP: 43300 10-Q 1 fllz_10q.htm FORM 10-Q fllz_10q.htm

 

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 quarter ended: November 30, 2018

 

OR

 

¨ 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: 333-208237

 

FELLAZO CORP.

(Exact name of registrant as specified in its charter)

 

Nevada

 

3990

 

30-0840869

(State or Other Jurisdiction

of Incorporation or Organization)

 

(Primary Standard Industrial

Classification Code Number)

 

I.R.S. Employer

Identification Number

 

8th Floor, Wisma Huazong, Lot 15285, 0.7km Lebuhraya Sungei Besi, 43300 Seri Kembangan,

Selangor Darul Ehsan, Malaysia

(Address and telephone number of principal executive offices)

 

Website: http://fellazo.com Phone: +603-8938 5638 Email: info@fellazo.com

(Address and telephone number of principal executive offices)

 

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 past 12 months, and (2) has been subject to such filing requirements for the past 90 days. Yes ¨ No x

 

Indicate by check mark wheth9er the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act:

 

Large accelerated filer ¨

Accelerated filer ¨

Non-accelerated filer ¨

Smaller reporting company x

 

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

 

As of January 11, 2019 there were 75,000,000 shares outstanding of the registrant’s common stock.

 

 
 
 
 

 

 

 

PAGE

 

 

 

 

PART I

FINANCIAL INFORMATION:

 

 

 

 

 

Item 1.

Financial Statements

 

3

 

 

 

 

Balance Sheet (Unaudited)

 

3

 

 

 

 

Statement Of Operations (Unaudited)

 

4

 

 

 

 

Statement of Cash Flow (Unaudited)

 

5

 

 

 

 

Notes to the Financial Statements (Unaudited)

 

6

 

 

 

 

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

 

8

 

 

 

 

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

 

9

 

 

 

 

Item 4.

Controls and Procedures

 

9

 

 

 

 

PART II

OTHER INFORMATION:

 

 

 

 

 

Item 1.

Legal Proceedings

 

10

 

 

 

 

Item 1A

Risk Factors

 

10

 

 

 

 

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

 

10

 

 

 

 

Item 3.

Defaults Upon Senior Securities

 

10

 

 

 

 

Item 4.

Mine Safety Disclosure.

 

10

 

 

 

 

Item 5.

Other Information

 

10

 

 

 

 

Item 6.

Exhibits

 

11

 

 

 

 

31.1 “Rule 13(a)-14(a)/15(d)-14(a) Certification of principal executive officer”

 

 

 

 

 

32.1 “Section 1350 Certification of principal executive officer”

 

 

 

 

 

Signatures

 

12

 

 

 
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Table of Contents

 

PART 1 - FINANCIAL INFORMATION

 

Item 1. Financial Statements.

 

FELLAZO CORP.

BALANCE SHEETS

(UNAUDITED)

 

 

 

As At

November 30,

2018

 

 

As At

August 31,

2018

 

ASSETS

 

 

 

 

 

 

Current Assets

 

 

 

 

 

 

Cash

 

 

631

 

 

 

631

 

Total Current Assets

 

$ 631

 

 

$ 631

 

 

 

 

 

 

 

 

 

 

Total Assets

 

$ 631

 

 

$ 631

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current Liabilities

 

 

 

 

 

 

 

 

Other Creditor

 

 

6,001

 

 

 

17,847

 

Other Creditor – Related Party

 

 

578,888

 

 

 

522,919

 

Total Current Liabilities

 

$ 584,889

 

 

$ 540,766

 

 

 

 

 

 

 

 

 

 

Total Liabilities

 

$ 584,889

 

 

$ 540,766

 

 

 

 

 

 

 

 

 

 

Stockholders’ Equity (Deficit)

 

 

 

 

 

 

 

 

Common stock, par value $0.001; 1,000,000,000 shares Authorized, 75,000,000 shares issued and outstanding as of November 30, 2018 and August 31, 2018

 

 

75,000

 

 

 

75,000

 

Additional Paid In Capital

 

 

36,116

 

 

 

36,116

 

Accumulated Deficit

 

 

(695,374 )

 

 

(651,251 )

Total Stockholders’ Equity (Deficit)

 

$ (584,258 )

 

$ (540,135 )

 

 

 

 

 

 

 

 

 

Total Liabilities and Stockholders’ Equity (Deficit)

 

$ 631

 

 

$ 631

 

 

See accompanying notes to unaudited financial statements.

 

 
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FELLAZO CORP.

STATEMENTS OF OPERATIONS

(UNAUDITED)

 

 

 

For Three

Months Ended

November 30,

2018

 

 

For Three

Months Ended

November 30,

2017

 

 

 

 

 

 

 

 

OPERATING EXPENSES:

 

 

 

 

 

 

General and Administrative Expenses

 

$ 44,123

 

 

$ 85,646

 

TOTAL OPERATING EXPENSES

 

 

44,123

 

 

 

85,646

 

 

 

 

 

 

 

 

 

 

NET LOSS BEFORE PROVISION FOR INCOME TAX

 

 

(44.123 )

 

 

(85,646 )

 

 

 

 

 

 

 

 

 

NET (LOSS)

 

$ (44,123 )

 

$ (85,646 )

 

 

 

 

 

 

 

 

 

NET LOSS PER SHARE: BASIC AND DILUTED

 

$ (0.00 )

 

$ (0.00 )

 

 

 

 

 

 

 

 

 

WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC & DILUTED

 

 

75,000,000

 

 

 

75,000,000

 

 

See accompanying notes to unaudited financial statements.

 

 
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FELLAZO CORP.

STATEMENTS OF CASH FLOWS

(UNAUDITED)

 

 

 

For Three

Months Ended

 

 

For Three

Months Ended

 

 

 

November 30,

2018

 

 

November 30,

2017

 

CASH FLOWS FROM OPERATING ACTIVITIES

 

 

 

 

 

 

Net Loss

 

$ (44,123 )

 

$ (85,646 )

Adjustments to reconcile net loss to net cash (used in) operating activities:

 

 

 

 

 

 

 

 

Changes in operating assets and liabilities:

 

 

 

 

 

 

 

 

Prepaid expense

 

 

-

 

 

 

10,000

 

Other Creditors

 

 

(11,846 )

 

 

(81,963 )

Other Creditors – Related Party

 

 

55,969

 

 

 

149,809

 

Accrued expenses

 

 

-

 

 

 

7.800

 

CASH FLOWS USED IN OPERATING ACTIVITIES

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

INCREASE/(DECREASE) IN CASH

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

Cash, beginning of period

 

 

631

 

 

 

70,115

 

 

 

 

 

 

 

 

 

 

Cash, end of period

 

$ 631

 

 

$ 70,115

 

 

 

 

 

 

 

 

 

 

Income tax payment

 

 

-

 

 

 

-

 

Interest expense

 

 

-

 

 

 

-

 

 

See accompanying notes to unaudited financial statements.

 

 
5
 
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NOTES TO THE UNAUDITED FINANCIAL STATEMENTS

NOVEMBER 30, 2018

 

NOTE 1 – ORGANIZATION AND BASIS OF PRESENTATION

 

The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial statements and Article 10 of Regulation S-X of the United States Securities and Exchange Commission (“SEC”). Accordingly, they do not contain all information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements. In the opinion of the Company’s management, the accompanying unaudited financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as of November 30, 2018 and the results of operations and cash flows for the periods presented. The results of operations for the three months ended November 30, 2018 are not necessarily indicative of the operating results for the full fiscal year or any future period. These unaudited financial statements should be read in conjunction with the financial statements for the year ended August 31, 2018, and related notes thereto included in the elsewhere in this filing.

 

Organization and Business Description

 

Fellazo Corp. (“the Company”, “we”, “us” or “our”) was incorporated in the State of Nevada on May 28, 2014.

 

During the quarter ending November 30, 2018 the Company had commenced its transformation process into an IT based company specialized in Mobile Application Developments with worldwide clientele and a portfolio investment company in primary industries such as healthcare, energy, development and capital market.

 

Our office is located at 8th Floor, Wisma Huazong, Lot 15285, 0.7km Lebuhraya Sungei Besi, 43300 Seri Kembangan, Selangor Darul Ehsan, Malaysia.

 

NOTE 2 – GOING CONCERN

 

The Company’s financial statements have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities and commitments in the normal course of business. As at November 30, 2018, the Company has a working capital deficit of $584,258 and has not yet established a stabilized source of revenue sufficient to cover operating cost for the foreseeable future. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern.

 

In 2019, the Company is planning to commence it operations with heavy emphasis into healthcare - primarily bird-nest based health supplement and bird-nest related health produces which include manufacturing and retail (retail chain and online). With our expertise in online applications platform, we would be developing an online network platform to market and sell our produces and also a system to source and purchase raw materials we required.

 

Prime market for our produces at this stage would be East and South East Asia with focus into China’s upcoming consumer market.

 

We will also be sourcing funds from potential investors to finance purchases of raw materials needed to support our operations and surplus for potential buyers.

 

 
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NOTE 3 – RELATED PARTY TRANSACTIONS

 

Our Management Agent, Swipypay Berhad (a company established in Malaysia) is 70% owned by our Director – Mr Yap Kit Chuan. Total outstanding amount due to our Management Agent was $578,888 and $522,919 as at November 30, 2018 and August 31, 2018 respectively.

 

The additional amount of $55,969 incurred in this quarter consisted of the followings;

 

 

 

 

Description

 

 

Coverage of Expense

 

Paid/Due To

 

Amount($)

 

1.

 

 

Management Fees

 

 

September 2018 to November 2018

 

Swipypay Berhad

 

 

15,000

 

2.

 

 

Payroll Expenses

 

 

September 2018 to November 2018

 

Swipypay Berhad

 

 

23,226

 

3.

 

 

Shares Management Fees

 

 

Retainer - June 2018 to August 2018

 

Globex Transfer, LLC

 

 

300

 

4.

 

 

Audit Fees

 

 

Audit Review Fee – Q3 ending May 2018

 

Malone-Bailey LLP

 

 

3.000

 

5.

 

 

Audit Fees

 

 

Audit – year ending August 31, 2018

 

Malone-Bailey LLP

 

 

8.000

 

6.

 

 

Audit Fees

 

 

Tax Filing - year ending August 31, 2018

 

Malone-Bailey LLP

 

 

3,250

 

7.

 

 

Regulatory Filings

 

 

Filing fees - November 2018 - January, 2019

 

PubCo Reporting Solutions, Inc

 

 

1,250

 

8.

 

 

Legal Fees

 

 

Advance Legal Fees

 

Parsons/Burnett/Bjordahl/Hume, LLP

 

 

2,000

 

9.

 

 

Bank Charges

 

 

 

 

Swipypay Berhad

 

 

297

 

10.

 

 

Gain on Exchange

 

 

 

 

 

 

 

(354 )

 

 

 

 

 

 

Total

55,969

 

 

NOTE 4 – SUBSEQUENT EVENTS

 

The Board of Director had agreed in principle for the Company on December 1, 2018 to acquire 49% shareholdings of Fellazo Berhad, a shell public limited company established in Malaysia. Fellazo Berhad is 80% owned by our President, CEO, CFO, Treasurer, Secretary and Chairman of the Board of Directors of the Company Mr. Yap Kit Chuan since April 17, 2018.

 

The acquisition will be based on exchange of shares between the Company and Mr. Yap Kit Chuan; once confirmed is expected to be complete in January 2019.

 

 
7
 
Table of Contents

 

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

 

Our financial statements are prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). These accounting principles require us to make certain estimates, judgments, and assumptions. We believe that the estimates, judgments, and assumptions upon which we rely are reasonable based upon information available to us at the time that these estimates, judgments, and assumptions are made. These estimates, judgments, and assumptions can affect the reported amounts of assets and liabilities as of the date of the financial statements as well as the reported amounts of revenues and expenses during the periods presented. Our financial statements would be affected to the extent there are material differences between these estimates.

 

GENERAL

 

Fellazo Corp. was incorporated on May 28, 2014 in the State of Nevada and established fiscal year on August 31.

 

During the quarter ending November 30, 2018 Company had commenced its transformation into an IT based company specialized in Mobile Application Developments with worldwide clientele and a portfolio investment company in primary industries such as healthcare, energy, development and capital market.

 

SIGNIFICANT EVENTS

 

Summary of significant events during the quarter ending November 30, 2018;

 

 

(a) The Company had appointed PubCo Reporting Solutions, Inc. as our new filing agent replacing GreenPro Financial Consulting Limited of Hong Kong effective November 1, 2018 for an annual fee of $6,800 which include Edgar/XBRL filings and Corporate Secretary services.

 

 

 

 

(b) We had also engaged Mr. James B. Parsons of Parsons/Burnett/Bjordahl/Hume, LLP as our SEC attorney to assist the Company with legal matters during our corporate exercises.

 

SUBSEQUENT EVENTS

 

The Board of Director had agreed in principle for the Company on December 1, 2018 to acquire 49% shareholdings of Fellazo Berhad, a shell public limited company established in Malaysia. Fellazo Berhad is 80% owned by our President, CEO, CFO, Treasurer, Secretary and Chairman of the Board of Directors of the Company Mr. Yap Kit Chuan since April 17, 2018.

 

The acquisition will be based on exchange of shares between the Company and Mr. Yap Kit Chuan; once confirmed is expected to be complete in January 2019

 

EMPLOYEES

 

Our President, CEO, CFO, Treasurer, Secretary and Chairman of the Board of Directors of the Company, Mr. Yap Kit Chuan are assisted by personnel(s) provided by our Management Agent.

 

The Company has yet to have any full-time employee as The Board is assisted by a team consisting of highly competent professional consultants and experts in the related the fields during this period of transformation exercise.

 

GOVERNMENT REGULATION

 

We will always comply with all regulations, rules and directives of governmental authorities and agencies applicable to our business in any jurisdiction which we would conduct activities. We do not believe that regulation will have a material impact on the way we conduct our business.

 

 
8
 
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Item 3. Quantitative and Qualitative Disclosures about Market Risk.

 

None.

 

Item 4. Controls and Procedures.

 

Evaluation of Internal Controls

 

We maintain disclosure controls and procedures, as defined in Rule 13a-15(e) promulgated under the Securities Exchange Act of 1934 (the “Exchange Act”), that are designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.

 

We carried out an evaluation, under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of our disclosure controls and procedures as of November 30, 2018. Based on the evaluation of these disclosure controls and procedures, and in light of the material weaknesses found in our internal controls over financial reporting, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were not effective.

 

Changes in Internal Controls over Financial Reporting

 

There has been no change in our internal control over financial reporting occurred during our first fiscal quarter that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

 

 
9
 
Table of Contents

 

PART II. OTHER INFORMATION

 

Item 1. LEGAL PROCEEDINGS

 

During the past ten years, none of the following occurred with respect to the President of the Company:

 

(1) any bankruptcy petition filed by or against any business of which such person was a general partner or executive officer either at the time of the bankruptcy or within two years prior to that time;

 

(2) any conviction in a criminal proceeding or being subject to a pending criminal proceeding (excluding traffic violations and other minor offenses);

 

(3) being subject to any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of any competent jurisdiction, permanently or temporarily enjoining, barring, suspending or otherwise limiting his involvement in any type of business, securities or banking activities; and

 

(4) being found by a court of competent jurisdiction (in a civil action), the SEC or the commodities futures trading commission to have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended or vacated.

 

We are not currently a party to any legal proceedings, and we are not aware of any pending or potential legal actions.

 

Item 1A. RISK FACTORS

 

Not Applicable to smaller reporting company.

 

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

 

No unregistered sales of equity securities took place during quarter ended November 30, 2017.

 

Item 3. DEFAULTS UPON SENIOR SECURITIES

 

None.

 

Item 4. MINE SAFETY DISCLOSURE

 

Not Applicable.

 

Item 5. OTHER INFORMATION

 

None.

 

 
10
 
Table of Contents

 

Item 6. EXHIBITS

 

The following exhibits are included as part of this report by reference:

 

Exhibit No.

 

Description

 

31.1

 

“Rule 13(a)-14(a)/15(d)-14(a) Certification of principal executive officer”

 

32.1

 

“Section 1350 Certification of principal executive officer”

 

 
11
 
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SIGNATURES

 

Pursuant to the requirements of Section 13 or 15(d) 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.

 

 

FELLAZO CORP.

 

 

Date: January 14, 2019

By:

/s/ YAP KIT CHUAN 

 

Name:

YAP KIT CHUAN

 

 

Title:

 

President, CEO, CFO, Treasurer, Secretary and Chairman of the Board of Directors of the Company

 

 

 

12

 

EX-31.1 2 fllz_ex311.htm CERTIFICATION fllz_ex311.htm

EXHIBIT 31.1

 

CERTIFICATION

 

I, YAP KIT CHUAN, certify that:

 

1. I have reviewed this Quarterly Report on Form 10-Q of FELLAZO CORP. for the quarter ended November 30, 2018;

 

 

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 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 we 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 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: January 14, 2019

By:

/s/ YAP KIT CHUAN

 

 

YAP KIT CHUAN

 

 

 

President, CEO, CFO, Treasurer, Secretary and Chairman of the Board of Directors of the Company

 

 

EX-32.1 3 fllz_ex321.htm CERTIFICATION fllz_ex321.htm

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 of FELLAZO CORP. for the quarter ended November 30, 2018, as filed with the Securities and Exchange Commission on the date hereof, the undersigned 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 best of my knowledge and belief:

 

 

(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: January 14, 2019

By:

/s/ YAP KIT CHUAN

 

 

YAP KIT CHUAN

 

 

 

President, CEO, CFO, Treasurer, Secretary and Chairman of the Board of Directors of the Company

 

 

A signed original of this written statement required by Section 906, or other documents authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

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Document and Entity Information - shares
3 Months Ended
Nov. 30, 2018
Jan. 11, 2019
Document And Entity Information    
Entity Registrant Name Fellazo Corp  
Entity Central Index Key 0001659207  
Document Type 10-Q  
Document Period End Date Nov. 30, 2018  
Amendment Flag false  
Current Fiscal Year End Date --08-31  
Entity's Reporting Status Current Yes  
Entity Filer Category Non-accelerated Filer  
Entity Common Stock, Shares Outstanding   75,000,000
Emerging Growth Company false  
Entity Small Business true  
Trading Symbol FLLZ  
Document Fiscal Period Focus Q1  
Document Fiscal Year Focus 2019  
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BALANCE SHEETS - USD ($)
Nov. 30, 2018
Aug. 31, 2018
Current Assets    
Cash $ 631 $ 631
Total Current Assets 631 631
Total Assets 631 631
Current Liabilities    
Other Creditor 6,001 17,847
Other Creditor - Related Party 578,888 522,919
Total Current Liabilities 584,889 540,766
Total Liabilities 584,889 540,766
Stockholders' Equity (Deficit)    
Common stock, par value $0.001; 1,000,000,000 shares Authorized, 75,000,000 shares issued and outstanding as of November 30, 2018 and August 31, 2018 75,000 75,000
Additional Paid In Capital 36,116 36,116
Accumulated Deficit (695,374) (651,251)
Total Stockholders' Equity (Deficit) (584,258) (540,135)
Total Liabilities and Stockholders' Equity (Deficit) $ 631 $ 631
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BALANCE SHEETS (Parenthetical) - $ / shares
Nov. 30, 2018
Aug. 31, 2018
Stockholders' Equity (Deficit)    
Common stock, par value $ 0.001 $ 0.001
Common stock, shares authorized 1,000,000,000 1,000,000,000
Common stock, shares issued 75,000,000 75,000,000
Common stock, shares outstanding 75,000,000 75,000,000
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STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
3 Months Ended
Nov. 30, 2018
Nov. 30, 2017
OPERATING EXPENSES:    
General and Administrative Expenses $ 44,123 $ 85,646
TOTAL OPERATING EXPENSES 44,123 85,646
NET LOSS BEFORE PROVISION FOR INCOME TAX (44,123) (85,646)
NET (LOSS) $ (44,123) $ (85,646)
NET LOSS PER SHARE: BASIC AND DILUTED $ (0.00) $ (0.00)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC & DILUTED 75,000,000 75,000,000
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STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
3 Months Ended
Nov. 30, 2018
Nov. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Loss $ (44,123) $ (85,646)
Changes in operating assets and liabilities:    
Prepaid expense 10,000
Other Creditors (11,846) (81,963)
Other Creditors - Related Party 55,969 149,809
Accrued expenses 7,800
CASH FLOWS USED IN OPERATING ACTIVITIES
INCREASE/(DECREASE) IN CASH
Cash, beginning of period 631 70,115
Cash, end of period 631 70,115
Income tax payment
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ORGANIZATION AND BASIS OF PRESENTATION
3 Months Ended
Nov. 30, 2018
Notes to Financial Statements  
NOTE 1 - ORGANIZATION AND BASIS OF PRESENTATION

The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial statements and Article 10 of Regulation S-X of the United States Securities and Exchange Commission (“SEC”). Accordingly, they do not contain all information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements. In the opinion of the Company’s management, the accompanying unaudited financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as of November 30, 2018 and the results of operations and cash flows for the periods presented. The results of operations for the three months ended November 30, 2018 are not necessarily indicative of the operating results for the full fiscal year or any future period. These unaudited financial statements should be read in conjunction with the financial statements for the year ended August 31, 2018, and related notes thereto included in the elsewhere in this filing.

 

Organization and Business Description

 

Fellazo Corp. (“the Company”, “we”, “us” or “our”) was incorporated in the State of Nevada on May 28, 2014.

 

During the quarter ending November 30, 2018 the Company had commenced its transformation process into an IT based company specialized in Mobile Application Developments with worldwide clientele and a portfolio investment company in primary industries such as healthcare, energy, development and capital market.

 

Our office is located at 8th Floor, Wisma Huazong, Lot 15285, 0.7km Lebuhraya Sungei Besi, 43300 Seri Kembangan, Selangor Darul Ehsan, Malaysia.

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GOING CONCERN
3 Months Ended
Nov. 30, 2018
Notes to Financial Statements  
NOTE 2 - GOING CONCERN

The Company’s financial statements have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities and commitments in the normal course of business. As at November 30, 2018, the Company has a working capital deficit of $584,258 and has not yet established a stabilized source of revenue sufficient to cover operating cost for the foreseeable future. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern.

 

In 2019, the Company is planning to commence it operations with heavy emphasis into healthcare - primarily bird-nest based health supplement and bird-nest related health produces which include manufacturing and retail (retail chain and online). With our expertise in online applications platform, we would be developing an online network platform to market and sell our produces and also a system to source and purchase raw materials we required.

 

Prime market for our produces at this stage would be East and South East Asia with focus into China’s upcoming consumer market.

 

We will also be sourcing funds from potential investors to finance purchases of raw materials needed to support our operations and surplus for potential buyers.

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RELATED PARTY TRANSACTIONS
3 Months Ended
Nov. 30, 2018
Notes to Financial Statements  
NOTE 3 - RELATED PARTY TRANSACTIONS

Our Management Agent, Swipypay Berhad (a company established in Malaysia) is 70% owned by our Director – Mr Yap Kit Chuan. Total outstanding amount due to our Management Agent was $578,888 and $522,919 as at November 30, 2018 and August 31, 2018 respectively.

 

The additional amount of $55,969 incurred in this quarter consisted of the followings;

 

      Description     Coverage of Expense   Paid/Due To   Amount($)  
1.     Management Fees     September 2018 to November 2018   Swipypay Berhad     15,000  
2.     Payroll Expenses     September 2018 to November 2018   Swipypay Berhad     23,226  
3.     Shares Management Fees     Retainer - June 2018 to August 2018   Globex Transfer, LLC     300  
4.     Audit Fees     Audit Review Fee – Q3 ending May 2018   Malone-Bailey LLP     3.000  
5.     Audit Fees     Audit – year ending August 31, 2018   Malone-Bailey LLP     8.000  
6.     Audit Fees     Tax Filing - year ending August 31, 2018   Malone-Bailey LLP     3,250  
7.     Regulatory Filings     Filing fees - November 2018 - January, 2019   PubCo Reporting Solutions, Inc     1,250  
8.     Legal Fees     Advance Legal Fees   Parsons/Burnett/Bjordahl/Hume, LLP     2,000  
9.     Bank Charges         Swipypay Berhad     297  
10.     Gain on Exchange               (354 )
                  Total     55,969  
                           

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SUBSEQUENT EVENTS
3 Months Ended
Nov. 30, 2018
Notes to Financial Statements  
NOTE 4 - SUBSEQUENT EVENTS

The Board of Director had agreed in principle for the Company on December 1, 2018 to acquire 49% shareholdings of Fellazo Berhad, a shell public limited company established in Malaysia. Fellazo Berhad is 80% owned by our President, CEO, CFO, Treasurer, Secretary and Chairman of the Board of Directors of the Company Mr. Yap Kit Chuan since April 17, 2018.

 

The acquisition will be based on exchange of shares between the Company and Mr. Yap Kit Chuan; once confirmed is expected to be complete in January 2019.

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RELATED PARTY TRANSACTIONS (Tables)
3 Months Ended
Nov. 30, 2018
Related Party Transactions  
Schedule of related party transactions

      Description     Coverage of Expense   Paid/Due To   Amount($)  
1.     Management Fees     September 2018 to November 2018   Swipypay Berhad     15,000  
2.     Payroll Expenses     September 2018 to November 2018   Swipypay Berhad     23,226  
3.     Shares Management Fees     Retainer - June 2018 to August 2018   Globex Transfer, LLC     300  
4.     Audit Fees     Audit Review Fee – Q3 ending May 2018   Malone-Bailey LLP     3.000  
5.     Audit Fees     Audit – year ending August 31, 2018   Malone-Bailey LLP     8.000  
6.     Audit Fees     Tax Filing - year ending August 31, 2018   Malone-Bailey LLP     3,250  
7.     Regulatory Filings     Filing fees - November 2018 - January, 2019   PubCo Reporting Solutions, Inc     1,250  
8.     Legal Fees     Advance Legal Fees   Parsons/Burnett/Bjordahl/Hume, LLP     2,000  
9.     Bank Charges         Swipypay Berhad     297  
10.     Gain on Exchange               (354 )
                  Total     55,969  

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ORGANIZATION AND BASIS OF PRESENTATION (Details Narrative)
3 Months Ended
Nov. 30, 2018
Organization And Basis Of Presentation  
State of incorporation Nevada
Date of incorporation May 28, 2014
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GOING CONCERN (Details Narrative)
Nov. 30, 2018
USD ($)
Going Concern  
Working capital deficit $ (584,258)
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RELATED PARTY TRANSACTIONS (Details) - USD ($)
3 Months Ended
Nov. 30, 2018
Nov. 30, 2017
Gain on Exchange $ (354)  
Total additional amount 55,969 $ 149,809
Swipypay Berhad [Member] | Coverage of Expense One [Member]    
Management Fees $ 15,000  
Description of coverage of expense September 2018 to November 2018  
Swipypay Berhad [Member] | Coverage of Expense Two [Member]    
Payroll Expenses $ 23,226  
Description of coverage of expense September 2018 to November 2018  
Swipypay Berhad [Member] | Coverage of Expense Nine [Member]    
Bank Charges $ 297  
Globex Transfer, LLC [Member] | Coverage of Expense Three [Member]    
Shares Management Fees $ 300  
Description of coverage of expense Retainer - June 2018 to August 2018  
Malone-Bailey LLP [Member] | Coverage of Expense Four [Member]    
Audit Fees $ 3,000  
Description of coverage of expense Audit Review Fee – Q3 ending May 2018  
Malone-Bailey LLP [Member] | Coverage of Expense Five [Member]    
Audit Fees $ 8,000  
Description of coverage of expense Audit – year ending August 31, 2018  
Malone-Bailey LLP [Member] | Coverage of Expense Six [Member]    
Audit Fees $ 3,250  
Description of coverage of expense Tax Filing - year ending August 31, 2018  
PubCo Reporting [Member] | Coverage of Expense Seven [Member]    
Regulatory Filings $ 1,250  
Description of coverage of expense Filing fees - November 2018 - January, 2019  
Parsons/Burnett/Bjordahl/Hume, LLP [Member] | Coverage of Expense Eight [Member]    
Legal Fees $ 2,000  
Description of coverage of expense Advance Legal Fees  
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RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)
3 Months Ended
Nov. 30, 2018
Nov. 30, 2017
Aug. 31, 2018
Other Creditor - Related Party $ 578,888   $ 522,919
Additional amount $ 55,969 $ 149,809  
Mr Yap Kit Chuan [Member]      
Ownership percentage 70.00%    
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SUBSEQUENT EVENTS (Details Narrative)
3 Months Ended
Nov. 30, 2018
Subsequent Event [Member]  
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