10-Q 1 jialijia10q.htm 10-Q

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-Q

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

 

For the quarterly period ended April 30, 2019

or

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

For the transition period from_____________ to _____________

Commission File Number: 333-209900

Jialijia Group Corporation Limited
(Exact name of registrant as specified in its charter)

Nevada   35-2544765
(State or other jurisdiction of incorporation)   (I.R.S. Employer Identification Number)

Room 402, Unit B, Building 5, Guanghua Community

Guanghua Road, Tianning District, Changzhou City, Jiangsu Province, China 213000
(Address of principal executive offices and zip code) 

(86-519) 8980-1180
(Registrant’s telephone number, including area code) 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. YES ☒ NO ☐

Indicate by check mark whether the registrant has submitted electronically 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 ☒ 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
    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). YES ☒ NO ☐

State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date.

Class   Outstanding June 13, 2019
Common Stock, $0.001 par value per share   8,102,108 shares

 

 

 

 

Jialijia Group Corporation Limited
FORM 10-Q
April 30, 2019

TABLE OF CONTENTS

   Page No.
 PART I. - FINANCIAL INFORMATION 3
    
Item 1.Financial Statements 3
 Balance Sheets as of April 30, 2019 and January 31, 2019 3
 Statements of Operations (Unaudited) for the Three Months Ended April 30, 2019 and 2018 4
 Statements of Stockholders’ Deficit (Unaudited) for Three Months Ended April 30, 2019 and 2018 5
 Statements of Cash Flows (Unaudited) for the Three Months Ended April 30, 2019 and 2018 6
 Notes to Unaudited Financial Statements 7
    
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 10
Item 3. Quantitative and Qualitative Disclosures About Market Risk 12
Item 4. Controls and Procedures 12
     
  PART II - OTHER INFORMATION 13
     
Item 1. Legal Proceedings 13
Item 1A. Risk Factors 13
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 13
Item 3. Defaults upon Senior Securities 13
Item 4. Mine Safety Disclosures 13
Item 5. Other Information 13
Item 6. Exhibits 13
Signatures 14

 

 

 

 

 

PART I - FINANCIAL INFORMATION

 

ITEM 1. FINANCIAL STATEMENTS

 

JIALIJIA GROUP CORPORATION LIMITED

(FORMERLY KNOWN AS RIZZEN, INC.)
BALANCE SHEETS
  

April 30,

2019

  January 31, 2019
   (Unaudited)   
ASSETS          
           
Current assets:          
Cash and cash equivalents  $—     $—   
Prepaid expenses   7,000    10,000 
           
Total current assets   7,000    10,000 
           
Total Assets  $7,000   $10,000 
           
LIABILITIES & STOCKHOLDERS’ DEFICIT          
           
Current liabilities:          
Accrued liabilities  $200   $—   
Loan from related party   103,265    84,115 
           
Total current liabilities   103,465    84,115 
           
Total Liabilities   103,465    84,115 
           
Stockholders’ deficit:          
Common stock, $.001 par value, 1,000,000,000 shares authorized, 7,285,000 issued and outstanding at April 30, 2019 and January 31, 2019   7,285    7,285 
Additional paid-in capital   24,415    24,415 
Accumulated deficit   (128,165)   (105,815)
           
Total stockholders’ deficit   (96,465)   (74,115)
           
Total Liabilities & Stockholders’ Deficit  $7,000   $10,000 

 

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

 

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JIALIJIA GROUP CORPORATION LIMITED

(FORMERLY KNOWN AS RIZZEN, INC.)

STATEMENT OF OPERATIONS

(UNAUDITED)

       
   For the Three Months Ended April 30,
   2019  2018
       
Revenue  $—     $—   
Cost of goods sold   —      —   
           
Gross profit   —      —   
           
Operating Expenses:          
General and administrative expenses   22,350    5,975 
           
Total operating expenses   22,350    5,975 
           
Loss from operations   (22,350)   (5,975)
           
Provision for income taxes   —      —   
           
Net loss  $(22,350)  $(5,975)
           
Net loss per common share:          
Basic and diluted  $(0.00)  $(0.00)
           
Weighted average common shares outstanding:          
Basic and diluted   7,285,000    7,285,000 

 

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

 

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JIALIJIA GROUP CORPORATION LIMITED
(FORMERLY KNOWN AS RIZZEN, INC.)
STATEMENTS OF STOCKHOLDERS' DEFICIT
(UNAUDITED)
                
   Common Stock  Additional  Accumulated  Total
   Shares  Amount  Paid in Capital  Deficit  Stockholders' Deficit
                
Balance at January 31, 2019   7,285,000   $7,285   $24,415   $(105,815)  $(74,115)
                          
Net loss                  (22,350)   (22,350)
Balance at April 30, 2019   7,285,000   $7,285   $24,415   $(128,165)  $(96,465)

  

   Common Stock  Additional  Accumulated  Total
   Shares  Amount  Paid in Capital  Deficit  Stockholders' Deficit
                
Balance at January 31, 2018   7,285,000   $7,285   $24,415   $(63,032)  $(31,332)
                          
Net loss                  (5,975)   (5,975)
Balance at April 30, 2018   7,285,000   $7,285   $24,415   $(69,007)  $(37,307)

 

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

 

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JIALIJIA GROUP CORPORATION LIMITED
(FORMERLY KNOWN AS RIZZEN, INC.)
STATEMENTS OF CASH FLOWS
(UNAUDITED)
       
   For the Three Months Ended April 30,
   2019  2018
       
CASH FLOWS FROM OPERATING ACTIVITIES:          
Net loss  $(22,350)  $(5,975)
Changes in operating assets and liabilities:          
Prepaid expenses   3,000    —   
Accounts payable and accrued liabilities   200    (200)
Net cash used in operating activities   (19,150)   (6,175)
           
CASH FLOWS FROM FINANCING ACTIVITIES:          
Proceeds from loan - related party   19,150    6,175 
Net cash provided by financing activities   19,150    6,175 
           
Net increase (decrease) in cash and cash equivalents   —      —   
           
Cash and cash equivalents at beginning of period   —      —   
           
Cash and cash equivalents at end of period  $—     $—   
           
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:          
Interest paid  $—     $—   
Income taxes paid  $—     $—   

 

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

  

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JIALIJIA GROUP CORPORATION LIMITED

(FORMERLY KNOWN AS RIZZEN, INC.)

NOTES TO FINANCIAL STATEMENTS

(UNAUDITED)

 

 

NOTE 1 - ORGANIZATION AND PRICIPAL ACTIVITIES

 

Jialijia Group Corporation Limited (the “Company”), formerly known as Rizzen, Inc., was incorporated as a corporation under the laws of the State of Nevada on October 21, 2015. The Company is in development stage and is seeking to acquire, through a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, exchangeable share transaction or other similar business transactions with one or more operating businesses or assets. 

 

NOTE 2 - GOING CONCERN

 

The Company’s financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has incurred negative cash flows from operating activities, and continuing net losses and working capital deficits that raise substantial doubt about its ability to continue as a going concern. The Company's financial statements do not reflect any adjustments that might result from the outcome of this uncertainty.

 

In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s plans to obtain such resources for the Company include obtaining capital from the sale of its equity securities, and loans from stockholders or other related party(ies) when needed. The Company believes its current and future plans enable it to continue as a going concern. Management cannot provide assurance that the Company will be successful in accomplishing these plans. These financial statements do not give effect to any adjustments which would be necessary should the Company be unable to continue as a going concern and therefore be required to realize its assets and discharge its liabilities in other than the normal course of business and at amounts which may differ from those in the accompanying financial statements.

 

NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 

 

The management of the Company is responsible for the selection and use of appropriate accounting policies and their application. Critical accounting policies and practices are those that are both most important to the portrayal of the Company’s financial condition and results and require management’s most difficult, subjective, or complex judgments, often as a result of the need to make estimates about the effects of matters that are inherently uncertain. The Company’s significant and critical accounting policies and practices are disclosed below as required by generally accepted accounting principles.

 

Basis of Presentation

 

The Company maintains its general ledger and journals with the accrual method of accounting for financial reporting purposes. The accompanying financial statements have been prepared pursuant to the rules of the Securities and Exchange Commission (“SEC”) and in accordance with accounting principles generally accepted in the United States of America (“GAAP”).

 

The Company follows the accounting guidance outlined in the Financial Accounting Standards Board Codification guidelines. The accompanying unaudited interim financial statements have been prepared in accordance with generally accepted principles for interim financial information and with the instruction to Form 10-Q of Regulation S-X. They may not include all information and footnotes required by United States generally accepted accounting principles for complete financial statements. However, except as disclosed herein, there have been no material changes in the information disclosed in the notes to the financial statements for the year ended January 31, 2019 included in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission.

 

The interim 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, which unless otherwise disclosed herein, consisting primarily of normal recurring adjustments, have been made. Operating results for the three months ended April 30, 2019 are not necessarily indicative of the results that may be expected for the year ending January 31, 2020.

Use of estimates

 

The preparation of the financial statements in conformity with U.S. GAAP 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 periods. Management makes these estimates using the best information available at the time the estimates are made; however actual results could differ materially from those estimates. 

 

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Income Taxes

 

The Company accounts for income taxes as outlined in ASC 740, “Income Taxes”. Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled.

 

Loss per Share Calculation

 

The Company complies with accounting and disclosure requirements of FASB ASC 260, “Earnings Per Share.” Net loss per common share is computed by dividing net loss applicable to common stockholders by the weighted average number of common shares outstanding for the period. For the three months ended April 30, 2019 and 2018, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into common stock and then share in the earnings of the Company. As a result, diluted loss per common share is the same as basic loss per common share for the period.

 

Fair values of financial instruments

 

ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value:

 

Level 1 – quoted prices in active markets for identical assets or liabilities.

Level 2 – quoted prices for similar assets and liabilities in active markets or inputs that are observable

Level 3 – inputs that are unobservable

 

There were no assets or liabilities measured at fair value on a recurring basis subject to the disclosure requirements of ASC 820 as of April 30, 2019 and January 31, 2019.

 

Recent Accounting Pronouncements

 

In August 2018, the FASB issued Accounting Standards Update (ASU) 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement”, which changes the fair value measurement disclosure requirements of ASC 820. This update is effective for fiscal years beginning after December 15, 2019, and for interim periods within those fiscal years. The Company does not expect the adoption of ASU 2018-13 to have a material impact on its financial statements.

 

NOTE 4 - PREPAID EXPENSES

 

As of April 30, 2019 and January 31, 2019, the Company had $7,000 and $10,000 in prepaid expenses, respectively, which consisted of prepaid professional service charges.

 

NOTE 5 - ACCRUED LIABILITIES

 

As of April 30, 2019 and January 31, 2019 the Company had $200 and $0 in accrued liabilities, respectively, which consisted of accrued professional service charges.

 

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NOTE 6 - INCOME TAXES 

 

The Company accounts for income taxes in accordance with FASB Codification Topic 740-10-25, Accounting for Uncertainty in Income Taxes, which requires the use of an asset and liability approach in accounting for income taxes.  Under this approach, deferred tax assets and liabilities are measured based on differences between financial reporting and tax bases of assets and liabilities measured using enacted tax rates and laws that are expected to be in effect when differences are expected to reverse.

 

As of April 30, 2019, we had a net operating loss carry-forward of $128,165 and a deferred tax asset of approximately $26,915 using the statutory rate of 21%. The deferred tax asset may be recognized in future periods, but not exceeding 20 years. However, the Company has provided a full valuation allowance on the deferred tax assets because of the uncertainty regarding its realizability. In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon future generation of taxable income during the periods in which temporary differences representing net future deductible amounts become deductible. After consideration of all the information available, Management believes that significant uncertainty exists with respect to future realization of the deferred tax assets and has therefore established a full valuation allowance.

 

The significant component of deferred income tax assets as of April 30, 2019 and January 31, 2019 is as follows: 

 

  

April 30,

2019

 

January 31,

2019

       
Net operating loss carry-forward  $26,915   $22,221 
Valuation allowance   (26,915)   (22,221)
Net deferred tax asset  $—     $—   

 

The difference between the effective rate reflected in the provision for income taxes on loss before taxes and the amounts determined by applying the applicable statutory U.S. tax rate are analyzed below: 

 

   For the Three Months Ended
  

April 30,

2019

 

April 30,

2018

       
Statutory tax benefit   (21)%   (21)%
Change in deferred tax asset valuation allowance   21%   21%
Provision for income taxes   —  %   —  %

  

NOTE 7 - RELATED PARTY TRANSACTIONS

 

In support of the Company’s nominal operation and cash requirements, the Company relies on advances from related parties until when the Company can support its operations or attain adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by officers, directors, or shareholders. The advances from related party represent the amounts paid by related party on behalf of the Company in satisfaction of liabilities. The advances are considered temporary in nature and have not been formalized by a promissory note.

 

During the quarter ended April 30, 2019, the Company’s officer advanced $19,150 for operating expenses. The balances of the loan from related party as of April 30, 2019 and January 31, 2019 were $103,265 and $84,115, respectively. The loan is non-interest bearing, payable on demand and unsecured. 

 

NOTE 8 - SUBSEQUENT EVENT

 

On May 15, 2019, the Company issued an aggregate number of 817,108 shares of its common stock at a price of $0.02 per share to nine (9) subscribers for aggregate gross proceeds of $16,342.

 

Management has evaluated subsequent events through the date which the financial statements were available to be issued. All subsequent events requiring recognition as of April 30, 2019 have been incorporated into these financial statements and there are no subsequent events that require disclosure in accordance with FASB ASC Topic 855, “Subsequent Events.”

 

 

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

 

Overview

 

Jialijia Group Corporation Limited, formerly known as Rizzen, Inc. (the “Company”) was incorporated as a corporation under the laws of the State of Nevada on October 21, 2015 and has been inactive since our change in control on December 30, 2016. Following our change, the Company now has only minimal assets and liabilities. Its operations are focused on seeking to acquire an operating business with strong growth potential. From and after the change of control, unless and until the Company completes an acquisition, its expenses are expected to consist solely of legal, accounting and compliance costs, including those related to complying with reporting obligations under the Exchange Act.

 

In December 2018, the Company identified, negotiated, and reached two business acquisition agreements with two target companies (see “Material Agreements” below). Our principal business objective for the past 12 months, and beyond such time, have been and will be to achieve long-term growth potential through acquisitions of these operating businesses.

 

Results of Operations for the Three Months Ended April 30, 2019 Compared to the Three Months Ended April 30, 2018 

Revenues 

The Company did not engage in any business activities and did not generate any revenue for the three months ended April 30, 2019 and 2018. 

Operating Expenses 

The Company has had nominal operations and only incurred expenses relating to being a public reporting company and seeking for merger and acquisition. The general and administrative expenses consisted primarily of professional fees and organization expenses. For the three months ended April 30, 2019, the general and administrative expenses amounted to $22,350 as compared with $5,975 for the three months ended April 30, 2018, an increase of $16,375, or 274%. The increase in the company's operating expenses was primarily due to the increase in accounting, audit and legal expenses.

Net Loss 

As a result of the foregoing, for the three months ended April 30, 2019, net loss amounted to $22,350, as compared to $5,975 for the three months ended April 30, 2018, an increase of $16,375, or 274%. 

Liquidity and Capital Resources 

Working Capital

As of April 30, 2019 and January 31, 2019, we had cash and cash equivalent of both $0. As of April 30, 2019, we have incurred accumulated operating losses of $128,165 since inception. As of April 30, 2019 and January 31, 2019, we had working capital deficits of $96,465 and $74,115, respectively. 

Cash Flows

Net cash used in operating activities was $19,150 during the three months ended April 30, 2019, compared to $6,175 for the three months ended April 30, 2018. The increase in the cash used in operating activities was primarily due to the increase in net loss and prepaid expenses during the three months ended April 30, 2019, compared to the three months ended April 30, 2018. 

We had no cash flow from investing activities during the three months ended April 30, 2019 and 2018. 

Net cash provided by financing activities was $19,150 during the three months ended April 30, 2019, compared to $6,175 for the three months ended April 30, 2018. The increase in the cash provided by financing activities was primarily due to the increase of proceeds from related party loan. 

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Going Concern

We require additional funding to meet its ongoing obligations and to fund anticipated operating losses. Our auditor has expressed substantial doubt about our ability to continue as a going concern. Our ability to continue as a going concern is dependent on raising capital to fund its initial business plan and ultimately to attain profitable operations. 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. 

We expect to incur marketing and professional and administrative expenses as well expenses associated with maintaining our filings with the Commission. We will require additional funds during this time and will seek to raise the necessary additional capital. If we are unable to obtain additional financing, we may be required to reduce the scope of our business development activities, which could harm our business plans, financial condition and operating results. Additional funding may not be available on favorable terms, if at all. We intend to continue to fund its business by way of equity or debt financing and advances from related parties. Any inability to raise capital as needed would have a material adverse effect on our business, financial condition and results of operations. 

If we cannot raise additional funds, we will have to cease business operations. As a result, our common stock investors would lose all of their investment.  

Critical Accounting Policies 

Our financial statements and accompanying notes have been prepared in accordance with United States generally accepted accounting principles applied on a consistent basis. The preparation of financial statements in conformity with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. 

We qualify as an “emerging growth company”, as defined in the Jumpstart Our Business Startups Act, which became law in April, 2012. Under the JOBS Act, “emerging growth companies”, can delay adopting new or revised accounting standards until such time as those standards apply to private companies. We have elected not to avail ourselves of this exemption from new or revised accounting standards and, therefore, will be subject to the same new or revised accounting standards as other public companies that are not emerging growth companies 

Use of estimates 

The preparation of the financial statements in conformity with U.S. GAAP 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, as well as the reported amounts of revenues and expenses during the reporting periods. Management makes these estimates using the best information available at the time the estimates are made; however actual results could differ materially from those estimates. 

Income Taxes 

We accounts for income taxes as outlined in ASC 740, “Income Taxes”. Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. 

Loss per Share Calculation 

We comply with accounting and disclosure requirements of ASC 260, “Earnings Per Share.” Net loss per common share is computed by dividing net loss applicable to common stockholders by the weighted average number of common shares outstanding for the period. For the three months ended April 30, 2019 and 2018, we did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into common stock and then share in the earnings of us. As a result, diluted loss per common share is the same as basic loss per common share for the periods.  

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Fair values of financial instruments 

ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value: 

Level 1 – quoted prices in active markets for identical assets or liabilities.

Level 2 – quoted prices for similar assets and liabilities in active markets or inputs that are observable

Level 3 – inputs that are unobservable 

There were no assets or liabilities measured at fair value on a recurring basis subject to the disclosure requirements of ASC 820 as of April 30, 2019 and January 31, 2019. 

Recent Accounting Pronouncements 

In August 2018, the FASB issued Accounting Standards Update (ASU) 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement”, which changes the fair value measurement disclosure requirements of ASC 820. This update is effective for fiscal years beginning after December 15, 2019, and for interim periods within those fiscal years. The Company does not expect the adoption of ASU 2018-13 to have a material impact on its financial statements. 

Off-balance Sheet Arrangements 

As of April 30, 2019 and January 31, 2019, there were no off-balance sheet arrangements. 

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 

Not applicable. 

ITEM 4. CONTROLS AND PROCEDURES 

Evaluation of Disclosure Controls and Procedures 

Based on an evaluation of the Company’s disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Exchange Act), as of April 30, 2019, the Company’s Chief Executive Officer and Chief Financial Officer (its principal executive officer and principal financial and accounting officer) has concluded that the Company’s disclosure controls and procedures were not effective at a reasonable assurance level. 

Limitations on the Effectiveness of Controls 

A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Because of the inherent limitations in all controls systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within a company have been detected. Our disclosure controls and procedures are designed to provide reasonable assurance of achieving its objectives. 

Changes in Internal Control Over Financial Reporting 

There have not been any changes in the Company’s internal controls over financial reporting that occurred during the Company’s fiscal quarter ended April 30, 2019 that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting. 

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PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS 

We are not currently a party to any lawsuit or proceeding which, in the opinion of management, is likely to have a material adverse effect on us or our business. 

ITEM 1A. RISK FACTORS 

Not applicable for smaller reporting companies. 

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 

None. 

ITEM 6. EXHIBITS

Exhibit Number   Description
31.1*   Rule 13a-14(a) Certification of the Chief Executive and Financial Officer
     
32.1*   Section 1350 Certification of Chief Executive and Financial Officer
     
101.INS*   XBRL INSTANCE DOCUMENT
     
101.SCH*   XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT
     
101.CAL*   XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT
     
101.DEF*   XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT
     
101.LAB*   XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT
     
101.PRE*   XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT
     

 * Filed along with this document

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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 hereunto duly authorized.


(Registrant)

 

   

Jialijia Group Corporation Limited

(Registrant)

Date: June 14, 2019 By: /s/ Jin Na
    Jin Na
    Chief Executive Officer (Principal Executive Officer), Chief Financial Officer (Principal Financial and Accounting officer), President

 

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