0001213900-20-007539.txt : 20200326 0001213900-20-007539.hdr.sgml : 20200326 20200326170712 ACCESSION NUMBER: 0001213900-20-007539 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 32 CONFORMED PERIOD OF REPORT: 20200229 FILED AS OF DATE: 20200326 DATE AS OF CHANGE: 20200326 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TEMIR CORP. CENTRAL INDEX KEY: 0001685237 STANDARD INDUSTRIAL CLASSIFICATION: TRANSPORTATION SERVICES [4700] IRS NUMBER: 981321204 STATE OF INCORPORATION: NV FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 333-213996 FILM NUMBER: 20746864 BUSINESS ADDRESS: STREET 1: SUITE 1802-03, 18/F STREET 2: STRAND 50 CITY: 50 BONHAM STRAND, SHEUNG WAN STATE: K3 ZIP: NIL BUSINESS PHONE: 852-28527388 MAIL ADDRESS: STREET 1: SUITE 1802-03, 18/F STREET 2: STRAND 50 CITY: 50 BONHAM STRAND, SHEUNG WAN STATE: K3 ZIP: NIL 10-Q 1 f10q0220_temircorp.htm QUARTERLY REPORT

 

 

U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-Q

Mark One

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

For the quarterly period ended February 29, 2020

 

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

For the transition period from ______ to _______

 

Commission File No. 333-213996

 

TEMIR CORP.

(Exact name of registrant as specified in its charter)

 

Nevada

(State or Other Jurisdiction of Incorporation or Organization)

98-1321204   7999
IRS Employer
Identification Number
  Primary Standard Industrial
Classification Code Number

 

Temir Corp.

Suite 1802-03, 18/F, Strand 50, 50 Bonham Strand, Sheung Wan, Hong Kong

Tel. 852-28527388

 

Email: rchan@jtifs.com.hk

(Address and telephone number of principal executive offices)

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

Title of each class   Trading Symbol(s)   Name of each exchange on
which registered
Common Stock   TMRR   OTC Markets-Pink Sheet

 

Indicate by checkmark whether the issuer: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ 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 ☒ 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 fi ler,” “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 checkmark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

 

Applicable Only to Issuer Involved in Bankruptcy Proceedings During the Preceding Five Years.

 

Indicate by checkmark whether the issuer has filed all documents and reports required to be filed by Section 12, 13 and 15(d) of the Securities Exchange Act of 1934 after the distribution of securities under a plan confirmed by a court. Yes ☐ No ☐

 

Applicable Only to Corporate Issuers:

 

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the most practicable date:

Class   Outstanding as of March 25, 2020
Common Stock, $0.001   2,574,000

 

 

 

 

 

 

  TEMIR CORP.  
     
Part I FINANCIAL INFORMATION
Item 1 Financial Statements 1
Item 2 Management’s Discussion And Analysis Of Financial Condition And Results Of Operations 8
Item 3 Quantitative And Qualitative Disclosures About Market Risk 11
Item 4 Controls And Procedures 11
     
Part II OTHER INFORMATION  
Item 1 Legal Proceedings 12
Item 1A Risk Factors 12
Item 2 Unregistered Sales Of Equity Securities And Use Of Proceeds 12
Item 3 Defaults Upon Senior Securities 12
Item 4 Mine Safety Disclosures 12
Item 5 Other Information 12
Item 6 Exhibits 12
  Signatures 13

 

i

 

 

PART I. FINANCIAL INFORMATION

 

ITEM 1. FINANCIAL STATEMENTS

 

TEMIR CORP.

BALANCE SHEETS

(Unaudited)

 

   February 29,
2020
   AUGUST 31,
2019
 
ASSETS        
Current Assets        
Cash and cash equivalents  $-   $- 
Total Assets  $-   $- 
           
LIABILITIES AND STOCKHOLDERS’ EQUITY          
           
Current Liabilities      
Due to a related party  $4,850   $- 
Accounts payable and accrued liabilities   2,498    498 
Total current liabilities   7,348    498 
Total Liabilities   7,348    498 
           
Stockholders’ Deficit          
Common stock, $0.001 par value, 75,000,000 shares authorized; 2,574,000 shares issued and outstanding   2,574    2,574 
Additional paid-in-capital   43,054    43,054 
Accumulated deficit   (52,976)   (46,126)
Total Stockholders’ deficit   (7,348)   (498)
           
Total Liabilities and Stockholders’ Deficit  $-   $- 

 

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

 

1

 

 

TEMIR CORP.

STATEMENTS OF OPERATIONS

(UNAUDITED)

 

   THREE MONTHS ENDED FEBRUARY 29,
2020
   THREE MONTHS ENDED FEBRUARY 28,
2019
   SIX MONTHS
ENDED FEBRUARY 29,
2020
   SIX MONTHS
ENDED FEBRUARY 28,
2019
 
                     
Revenue  $-   $-   $-    - 
Cost of goods sold   -    -    -    - 
Gross profit   -    -    -    - 
                     
Operating expenses                    
General and administrative expenses   3,456    4,095    6,850    8,833 
Net loss from operations   (3,456)   (4,095)   (6,850)   (8,833)
Loss before provision for income taxes                    
                     
Provision for income taxes   -         -      
                     
Net loss  $(3,456)  $(4,095)  $(6,850)  $(8,833)
                     
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   2,574,000    2,574,000    2,574,000    2,574,000 

 

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

 

2

 

 

TEMIR CORP.

STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY

(UNAUDITED)

 

   Number of
Common
Shares
   Amount
$
  

Additional Paid-In-Capital

$

   Deficit
Accumulated
$
   Total
$
 
                     
FOR THE SIX MONTHS ENDED FEBRUARY 28, 2019                    
Balances as of September 1, 2018   2,574,000    2,574    28,126    (30,797)   (97)
Net loss for the period   -    -    -    (8,833)   (8,833)
Balances as of February 28, 2019   2,574,000    2,574    28,126    (39,630)   (8,930)
                          
FOR THE SIX MONTHS ENDED FEBRUARY 29, 2020                    
Balances as of September 1, 2019   2,574,000    2,574    43,054    (46,126)   (498)
Net loss for the period   -    -    -    (6,850)   (6,850)
Balances as of February 29, 2020   2,574,000    2,574    43,054    (52,976)   (7,348)
                          
FOR THE THREE MONTHS ENDED FEBRUARY 28, 2019                    
Balances as of December 1, 2018   2,574,000    2,574    28,126    (35,535)   (4,835)
Net loss for the period   -    -    -    (4,095)   (4,095)
Balances as of February 28, 2019   2,574,000    2,574    28,126    (39,630)   (8,930)
                          
FOR THE THREE MONTHS ENDED FEBRUARY 29, 2020                    
Balances as of December 1, 2019   2,574,000    2,574    43,054    (49,520)   (3,892)
Net loss for the period   -    -    -    (3,456)   (3,456)
Balances as of February 29, 2020   2,574,000    2,574    43,054    (52,976)   (7,348)

 

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

 

3

 

 

TEMIR CORP.

STATEMENTS OF CASH FLOWS

(UNAUDITED)

 

   SIX MONTHS
ENDED
FEBRUARY 29,
2020
   SIX MONTHS
ENDED
FEBRUARY 28,
2019
 
Cash flows from operating activities        
Net loss  $(6,850)  $(8,833)
Adjustments to reconcile net loss to net cash used in operating activities          
Amortization expenses   -    334 
Changes in operating assets and liabilities:          
Accounts payable and accrued liabilities   2,000    498 
Net cash used in operating activities   (4,850)   (8,001)
           
Cash flows from financing activities          
Advances from a related party   4,850    - 
Proceeds of loan from shareholder   -    5,199 
Net cash provided by financing activities   4,850    5,199 
Net decrease in cash and equivalents   -    (2,802)
Cash and equivalents at beginning of the period   -    2,873 
Cash and equivalents at end of the period  $-   $71 
           
Supplemental cash flow information:          
Cash paid for:          
Interest  $-   $- 
Taxes  $-   $- 

 

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

 

4

 

 

TEMIR CORP.

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS

FEBRUARY 29, 2020

 

NOTE 1 – ORGANIZATION AND BUSINESS

 

TEMIR CORP. (the “Company”) is a corporation established under the corporation laws in the State of Nevada on May 19, 2016. The Company commenced operations in tourism. Temir Corp. was a travel agency that organized individual and group tours in Kyrgyzstan, such as cultural, recreational, sport, business, ecotours and other travel tours. On July 15, 2019, the Company’s principal office relocated to Room 1204-06, 12/F, 69 Jervois Street, Sheung Wan, Hong Kong. On January 15, 2020, the Company’s principal office has been relocated to Suite 1802-03, 18/F, Strand 50, 50 Bonham Strand, Sheung Wan, Hong Kong. The management of Temir Corp is planning to restructure the Company’s business from travel agency to an investment holding with major business being diversified financials.

 

The Company has adopted August 31 fiscal year end.

 

NOTE 2 – GOING CONCERN

 

The accompanying financial statements have been prepared on a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. The Company has accumulated deficit from inception (May 19, 2016) to February 29, 2020 of $52,976. These factors among others raise substantial doubt about the ability of the Company to continue as a going concern.

 

In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking third party equity and/or debt financing. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. These financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

 

NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Basis of Presentation

 

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

 

5

 

 

The condensed financial information as of February 29, 2020 and for the six months ended February 29, 2020 and February 28, 2019 have been prepared by the Company without audit, pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures, which are normally included in the financial statements prepared in accordance with U.S. GAAP have not been included. The interim financial statements are not necessarily indicative of the results of operations for the full year. These financial statements and related footnotes should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10K for the year ended August 31, 2019, filed with the Securities and Exchange Commission.

 

In the opinion of management, all adjustments (which include only normal recurring adjustments and disclosures necessary to present fairly the financial position, results of operations, and cash flows at February 29, 2020 and for the related periods have been included in these financial statements.

 

Use of Estimates

 

Preparing financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. Actual results and outcomes may differ from management’s estimates and assumptions.

 

Stock-Based Compensation

 

As of February 29, 2020, the Company has not issued any stock-based payments to its employees.

 

Stock-based compensation is accounted for at fair value in accordance with ASC 718, when applicable. To date, the Company has not adopted a stock option plan and has not granted any stock options.

 

Income Taxes

 

The Company follows the liability method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences). The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

 

New Accounting Pronouncements

 

There were various accounting standards and interpretations issued recently, none of which are expected to a have a material impact on our financial position, operations or cash flows.

 

6

 

 

NOTE 4 – CAPITAL STOCK

 

The Company has 75,000,000 shares of common stock authorized with a par value of $0.001 per share.

 

As of February 29, 2020, the Company had 2,574,000 shares issued and outstanding.

 

NOTE 5 – RELATED PARTY TRANSACTIONS

 

In support of the Company’s efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attains 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. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances are considered temporary in nature and have not been formalized by a promissory note.

 

Since May 19, 2016 (Inception) through February 29, 2020, the Company’s the former President and director of the Company advanced loans to the Company to pay for incorporation costs and operating expenses. As of August 31, 2019, the amount outstanding of $14,928 was capitalized as additional paid-in capital of the Company.

 

As of February 29, 2020, the amount outstanding of $4,850 was due to JTI Finance Limited. Roy Chan, president of the Company, is also a director of JTI Finance Limited. The loan is non-interest bearing, due upon demand and unsecured.

 

NOTE 6 – SUBSEQUENT EVENTS

 

The Company has evaluated subsequent events from February 29, 2020 to the date the financial statements were issued and has determined that there are no items to disclose.

 

7

 

 

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

 

FORWARD LOOKING STATEMENTS

 

Statements made in this Form 10-Q that are not historical or current facts are “forward-looking statements” made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 (the “Act”) and Section 21E of the Securities Exchange Act of 1934. These statements often can be identified by the use of terms such as “may,” “will,” “expect,” “believe,” “anticipate,” “estimate,” “approximate” or “continue,” or the negative thereof. We intend that such forward-looking statements be subject to the safe harbors for such statements. We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management’s best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events.

 

General

 

We were incorporated in the State of Nevada on May 19, 2016. We commence operations in tourism. We commenced operations in tourism. We were a travel agency that organized individual and group tours in Kyrgyzstan, such as cultural, recreational, sport, business, ecotours and other travel tours. Services and products provided by our company included custom packages according to the client’s specifications. We developed and offered our own tours in Kyrgyzstan as well as third-party suppliers.

 

On July 15, 2019, the Company’s principal office relocated to Room 1204-06, 12/F, 69 Jervois Street, Sheung Wan, Hong Kong. On January 15, 2020, our principal office has been relocated to Suite 1802-03, 18/F, Strand 50, 50 Bonham Strand, Sheung Wan, Hong Kong. Our management is planning to restructure our business from travel agency to an investment holding with major business being diversified financials.

 

RESULTS OF OPERATION

 

The accompanying financial statements have been prepared on a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. We have not yet established an ongoing source of revenues sufficient to cover our operating costs and allow it to continue as a going concern. We have accumulated deficit from inception (May 19, 2016) to February 29, 2020 of $52,976. These factors among others raise substantial doubt about our ability to continue as a going concern.

 

In order to continue as a going concern, we will need, among other things, additional capital resources. Management’s plan is to obtain such resources for us by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking third party equity and/or debt financing. However, management cannot provide any assurances that we will be successful in accomplishing any of our plans. These financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should we be unable to continue as a going concern.

 

8

 

 

Three Months Period Ended February 29, 2020 compared to Three Months period ended February 28, 2019

 

Revenue

 

During the three months ended February 29, 2020 and February 28, 2019, the company did not generate any revenue.

 

Operating Expenses

 

During the three months period ended February 29, 2020, we incurred total expenses and professional fees of $3,456, compared to $4,095 during the three months ended February 28, 2019.

 

Our net loss for the three months period ended February 29, 2020 was $3,456 compared to net loss of $4,095 during the three months ended February 28, 2019.

 

Six Months Period Ended February 29, 2020 compared to Six Months period ended February 28, 2019

 

Revenue

 

During the six months ended February 29, 2020 and February 28, 2019, the Company did not generate any revenue.

 

Operating Expenses

 

During the six months period ended February 29, 2020, we incurred total expenses and professional fees of $6,850, compared to $8,833 during the six months ended February 28, 2019. General and administrative expenses incurred generally related to legal and auditing services.

 

Our net loss for the six months period ended February 29, 2020 was $6,850 compared to net loss of $8,833 during the six months ended February 28, 2019.

 

LIQUIDITY AND CAPITAL RESOURCES

 

As at August 31 2019 and February 29, 2020 our current assets were $0. As at August 31, 2019 and February 29, 2020 our total assets were $0. As at February 29, 2020, our current liabilities were $7,348 compared to $498 as at August 31, 2019.

 

Stockholder’s deficit was $7,348 as of February 29, 2020 compared to $498 as of August 31, 2019.

 

9

 

 

Cash Flows from Operating Activities

 

For the six months period ended February 29, 2020, net cash flows used in operating activities were $4,850, consisting of net loss of $6,850, net of cash inflows from accrued liabilities of $2,000. For the six months period ended February 28, 2019, net cash flows used in operating activities were $8,001, consisting primarily of net loss of $8,833, net of amortization expenses of $334 and cash inflows from accounts payable of $498.

 

Cash Flows from Financing Activities

 

Cash flows provided by financing activities during the six months period ended February 29, 2020 was $4,850 which was advanced by a related company, JTI Finance Limited, compared to $5,199 during the six months period ended February 28, 2019, consisting of loan from shareholder. Roy Chan, president of the Company, is also a director of JTI Finance Limited.

 

PLAN OF OPERATION AND FUNDING

 

Existing working capital, further advances and debt instruments, and anticipated cash flow are expected to be adequate to fund our operations over the next twelve months. We have no lines of credit or other bank financing arrangements. Generally, we have financed operations to date through the proceeds of the private placement of equity and debt instruments.

 

In connection with our business plan, management anticipates additional increases in operating expenses and capital expenditures relating to:(i) developmental expenses associated with a start-up business; and (ii) marketing expenses. We intend to finance these expenses with further issuances of securities, and debt issuances. Thereafter, we expect we will need to raise additional capital and generate revenues to meet long-term operating requirements. Additional issuances of equity or convertible debt securities will result in dilution to our current shareholders. Further, such securities might have rights, preferences or privileges senior to our common stock.

 

Additional financing may not be available upon acceptable terms, or at all. If adequate funds are not available or are not available on acceptable terms, we may not be able to take advantage of prospective new business endeavors or opportunities, which could significantly and materially restrict our business operations.

 

OFF-BALANCE SHEET ARRANGEMENTS

 

As of the date of this Quarterly Report, we do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.

 

CONTRACTUAL OBLIGATIONS

 

As of February 29, 2020, the Company has no contractual obligations involved.

 

10

 

 

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

 

As a “smaller reporting company” as defined by Item 10 of Regulation S-K, the Company is not required to provide information required by this Item.

 

ITEM 4. CONTROLS AND PROCEDURES

 

Evaluation of Disclosure Controls and Procedures

 

Our disclosure controls and procedures are designed to ensure that information required to be disclosed in reports that we file or submit under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the Securities and Exchange Commission. Our principal executive officer and principal financial and accounting officer have reviewed the effectiveness of our “disclosure controls and procedures” (as defined in the Securities Exchange Act of 1934 Rules 13(a)-15(e) and 15(d)-15(e)) as of February 29, 2020 and have concluded that the disclosure controls and procedures were not effective to ensure that material information relating to the Company is recorded, processed, summarized, and reported in a timely manner, due to the presence of material weaknesses in internal control over financial reporting.

 

A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company’s annual or interim financial statements will not be prevented or detected on a timely basis. Management has identified the following material weaknesses which have caused management to conclude that, as of February 29, 2020, our disclosure controls and procedures were not effective: (i) inadequate segregation of duties and effective risk assessment; and (ii) insufficient written policies and procedures for accounting and financial reporting with respect to the requirements and application of both US GAAP and SEC guidelines.

 

Changes in Internal Controls over Financial Reporting

 

There have been no changes in the Company’s internal control over financial reporting during the last quarterly period covered by this report that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

 

11

 

 

PART II. OTHER INFORMATION

 

ITEM 1. LEGAL PROCEEDINGS

 

Management is not aware of any legal proceedings contemplated by any governmental authority or any other party involving us or our properties. As of the date of this Quarterly Report, no director, officer or affiliate is (i) a party adverse to us in any legal proceeding, or (ii) has an adverse interest to us in any legal proceedings. Management is not aware of any other legal proceedings pending or that have been threatened against us or our properties.

 

ITEM 1A. RISK FACTORS

 

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 1A.

 

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

 

None.

 

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

 

None.

 

ITEM 4. MINE SAFETY DISCLOSURES

 

None.

 

ITEM 5. OTHER INFORMATION

 

None.

 

ITEM 6. EXHIBITS

 

(a)Exhibits required by Item 601 of Regulation SK.:

 

Number   Description
     
3.1   Articles of Incorporation (1)
3.2   Bylaws (1)
31.1   Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2   Certification of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1   Certification of Principal Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2   Certification of Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS *   XBRL Instance Document
101.SCH *   XBRL Taxonomy Extension Schema Document
101.CAL *   XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF *   XBRL Taxonomy Extension Definition Linkbase Document
101.LAB *   XBRL Taxonomy Extension Label Linkbase Document
101.PRE *   XBRL Taxonomy Extension Presentation Linkbase Document

 

 

(1) Incorporated by reference to the Registrant’s Form S-1 (File No. 333-213996), filed with the Commission on October 6, 2016.

 

*XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

 

12

 

 

SIGNATURES

 

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  TEMIR CORP.
   
Dated: March 26,2020 By: /s/ Roy Chan
    Name: Roy Chan
    Title: President
    (principal executive officer)

 

  By: /s/ Brian Chan
    Name: Brian Chan
    Title: Chief Financial Officer
    (principal accounting officer and principal financial officer)

 

 

13

 

EX-31.1 2 f10qex31-1_temircorp.htm CERTIFICATION

EXHIBIT 31.1

 

SECTION 302 CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER OF TEMIR CORP.

 

I, Roy Chan, certify that:

 

1. I have reviewed this quarterly report on Form 10-Q of Temir Corp.;

 

2. Based on my knowledge, this quarterly 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 quarterly report;

 

3. Based on my knowledge, the financial statements, and other financial information included in this quarterly 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 quarterly report;

 

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a–15(e) and 15d–15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a–15(f) and 15d–15(f)) for the registrant and have:

 

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

 

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

Date: March 26, 2020 By: /s/ Roy Chan
    Roy Chan
    President (principal executive officer)

 

 

EX-31.2 3 f10qex31-2_temircorp.htm CERTIFICATION

EXHIBIT 31.2

 

SECTION 302 CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER OF TEMIR CORP.

 

I, Brian Chan, certify that:

 

1. I have reviewed this quarterly report on Form 10-Q of Temir Corp.;

 

2. Based on my knowledge, this quarterly 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 quarterly report;

 

3. Based on my knowledge, the financial statements, and other financial information included in this quarterly 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 quarterly report;

 

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a–15(e) and 15d–15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a–15(f) and 15d–15(f)) for the registrant and have:

 

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

 

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

Date: March 26, 2020 By: /s/ Brian Chan
    Brian Chan
    Chief Financial Officer (principal accounting officer and principal financial officer)

 

 

 

EX-32.1 4 f10qex32-1_temircorp.htm CERTIFICATION

EXHIBIT 32.1

 

SECTION 906 CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER OF TEMIR CORP.

 

In connection with the accompanying Quarterly Report on Form 10-Q of Temir Corp. for the quarter ended February 29, 2020, the undersigned, Roy Chan, President of Temir Corp., does hereby certify pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

 

(1) such Quarterly Report on Form 10-Q for the quarter ended February 29, 2020 fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

 

(2) the information contained in such Quarterly Report on Form 10-Q for the quarter ended February 29, 2020 fairly presents, in all material respects, the financial condition and results of operations of Temir Corp.

 

Date: March 26, 2020 By: /s/ Roy Chan
    President
    (principal executive officer)

 

EX-32.2 5 f10qex32-2_temircorp.htm CERTIFICATION

EXHIBIT 32.2

 

SECTION 906 CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER OF TEMIR CORP.

 

In connection with the accompanying Quarterly Report on Form 10-Q of Temir Corp. for the quarter ended February 29, 2020, the undersigned, Brian Chan, Chief Financial Officer of Temir Corp., does hereby certify pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

 

(1) such Quarterly Report on Form 10-Q for the quarter ended February 29, 2020 fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

 

(2) the information contained in such Quarterly Report on Form 10-Q for the quarter ended February 29, 2020 fairly presents, in all material respects, the financial condition and results of operations of Temir Corp.

 

Date: March 26, 2020 By: /s/ Brian Chan
    Chief Financial Officer
   

(principal accounting officer and

principal financial officer)

 

 

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Capital Stock
6 Months Ended
Feb. 29, 2020
Equity [Abstract]  
CAPITAL STOCK

NOTE 4 – CAPITAL STOCK

 

The Company has 75,000,000 shares of common stock authorized with a par value of $0.001 per share.

 

As of February 29, 2020, the Company had 2,574,000 shares issued and outstanding.

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Summary of Significant Accounting Policies
6 Months Ended
Feb. 29, 2020
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Basis of Presentation

 

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

 

The condensed financial information as of February 29, 2020 and for the six months ended February 29, 2020 and February 28, 2019 have been prepared by the Company without audit, pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures, which are normally included in the financial statements prepared in accordance with U.S. GAAP have not been included. The interim financial statements are not necessarily indicative of the results of operations for the full year. These financial statements and related footnotes should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10K for the year ended August 31, 2019, filed with the Securities and Exchange Commission.

 

In the opinion of management, all adjustments (which include only normal recurring adjustments and disclosures necessary to present fairly the financial position, results of operations, and cash flows at February 29, 2020 and for the related periods have been included in these financial statements.

 

Use of Estimates

 

Preparing financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. Actual results and outcomes may differ from management’s estimates and assumptions.

 

Stock-Based Compensation

 

As of February 29, 2020, the Company has not issued any stock-based payments to its employees.

 

Stock-based compensation is accounted for at fair value in accordance with ASC 718, when applicable. To date, the Company has not adopted a stock option plan and has not granted any stock options.

 

Income Taxes

 

The Company follows the liability method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences). The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

 

New Accounting Pronouncements

 

There were various accounting standards and interpretations issued recently, none of which are expected to a have a material impact on our financial position, operations or cash flows.

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Going Concern (Details) - USD ($)
Feb. 29, 2020
Aug. 31, 2019
Going Concern (Textual)    
Accumulated deficit $ (52,976) $ (46,126)
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Document and Entity Information - shares
6 Months Ended
Feb. 29, 2020
Mar. 25, 2020
Document and Entity Information [Abstract]    
Entity Registrant Name TEMIR CORP.  
Entity Central Index Key 0001685237  
Amendment Flag false  
Current Fiscal Year End Date --08-31  
Document Type 10-Q  
Document Period End Date Feb. 29, 2020  
Document Fiscal Period Focus Q2  
Document Fiscal Year Focus 2020  
Entity Current Reporting Status Yes  
Entity Filer Category Non-accelerated Filer  
Entity Small Business true  
Entity Shell Company false  
Entity Emerging Growth Company true  
Entity Ex Transition Period false  
Entity Common Stock, Shares Outstanding   2,574,000
Entity File Number 333-213996  
Entity Interactive Data Current Yes  
Entity Incorporation, State or Country Code NV  
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Statement of Changes in Stockholders' Equity (Unaudited) - USD ($)
Number of Common Shares
Additional Paid-In-Capital
Deficit Accumulated
Total
Balance at Aug. 31, 2018 $ 2,574 $ 28,126 $ (30,797) $ (97)
Balance,shares at Aug. 31, 2018 2,574,000      
Net loss for the period (8,833) (8,833)
Balance at Feb. 28, 2019 $ 2,574 28,126 (39,630) (8,930)
Balance, shares at Feb. 28, 2019 2,574,000      
Balance at Nov. 30, 2018 $ 2,574 28,126 (35,535) (4,835)
Balance,shares at Nov. 30, 2018 2,574,000      
Net loss for the period (4,095) (4,095)
Balance at Feb. 28, 2019 $ 2,574 28,126 (39,630) (8,930)
Balance, shares at Feb. 28, 2019 2,574,000      
Balance at Aug. 31, 2019 $ 2,574 43,054 (46,126) (498)
Balance,shares at Aug. 31, 2019 2,574,000      
Net loss for the period (6,850) (6,850)
Balance at Feb. 29, 2020 $ 2,574 43,054 (52,976) (7,348)
Balance, shares at Feb. 29, 2020 2,574,000      
Balance at Nov. 30, 2019 $ 2,574 43,054 (49,520) (3,892)
Balance,shares at Nov. 30, 2019 2,574,000      
Net loss for the period (3,456) (3,456)
Balance at Feb. 29, 2020 $ 2,574 $ 43,054 $ (52,976) $ (7,348)
Balance, shares at Feb. 29, 2020 2,574,000      
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Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Feb. 29, 2020
Feb. 28, 2019
Feb. 29, 2020
Feb. 28, 2019
Income Statement [Abstract]        
Revenue
Cost of goods sold
Gross profit
Operating expenses        
General and administrative expenses 3,456 4,095 6,850 8,833
Net loss from operations (3,456) (4,095) (6,850) (8,833)
Loss before provision for income taxes
Provision for income taxes
Net loss $ (3,456) $ (4,095) $ (6,850) $ (8,833)
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 2,574,000 2,574,000 2,574,000 2,574,000
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Related Party Transactions
6 Months Ended
Feb. 29, 2020
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 5 – RELATED PARTY TRANSACTIONS

 

In support of the Company’s efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attains 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. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances are considered temporary in nature and have not been formalized by a promissory note.

 

Since May 19, 2016 (Inception) through February 29, 2020, the Company’s the former President and director of the Company advanced loans to the Company to pay for incorporation costs and operating expenses. As of August 31, 2019, the amount outstanding of $14,928 was capitalized as additional paid-in capital of the Company.

 

As of February 29, 2020, the amount outstanding of $4,850 was due to JTI Finance Limited. Roy Chan, president of the Company, is also a director of JTI Finance Limited. The loan is non-interest bearing, due upon demand and unsecured.

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Going Concern
6 Months Ended
Feb. 29, 2020
Going Concern [Abstract]  
GOING CONCERN

NOTE 2 – GOING CONCERN

 

The accompanying financial statements have been prepared on a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. The Company has accumulated deficit from inception (May 19, 2016) to February 29, 2020 of $52,976. These factors among others raise substantial doubt about the ability of the Company to continue as a going concern.

 

In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking third party equity and/or debt financing. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. These financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

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Capital Stock (Details) - $ / shares
Feb. 29, 2020
Aug. 31, 2019
Equity [Abstract]    
Common stock, authorized 75,000,000 75,000,000
Common stock, par value $ 0.001 $ 0.001
Common stock, shares issued 2,574,000 2,574,000
Common stock, shares outstanding 2,574,000 2,574,000
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Balance Sheets (Unaudited) - USD ($)
Feb. 29, 2020
Aug. 31, 2019
Current Assets    
Cash and cash equivalents
Total Assets
Current Liabilities    
Due to a related party 4,850
Accounts payable and accrued liabilities 2,498 498
Total current liabilities 7,348 498
Total Liabilities 7,348 498
Stockholders' Deficit    
Common stock, $0.001 par value, 75,000,000 shares authorized; 2,574,000 shares issued and outstanding 2,574 2,574
Additional paid-in-capital 43,054 43,054
Accumulated deficit (52,976) (46,126)
Total Stockholders' deficit (7,348) (498)
Total Liabilities and Stockholders' Deficit

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Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Feb. 29, 2020
Feb. 28, 2019
Cash flows from operating activities    
Net loss $ (6,850) $ (8,833)
Adjustments to reconcile net loss to net cash used in operating activities    
Amortization expenses 334
Changes in operating assets and liabilities:    
Accounts payable and accrued liabilities 2,000 498
Net cash used in operating activities (4,850) (8,001)
Cash flows from financing activities    
Advances from a related party 4,850
Proceeds of loan from shareholder 5,199
Net cash provided by financing activities 4,850 5,199
Net decrease in cash and equivalents (2,802)
Cash and equivalents at beginning of the period 2,873
Cash and equivalents at end of the period 71
Cash paid for:    
Interest
Taxes
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Summary of Significant Accounting Policies (Policies)
6 Months Ended
Feb. 29, 2020
Accounting Policies [Abstract]  
Basis of Presentation

Basis of Presentation

 

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

 

The condensed financial information as of February 29, 2020 and for the six months ended February 29, 2020 and February 28, 2019 have been prepared by the Company without audit, pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures, which are normally included in the financial statements prepared in accordance with U.S. GAAP have not been included. The interim financial statements are not necessarily indicative of the results of operations for the full year. These financial statements and related footnotes should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10K for the year ended August 31, 2019, filed with the Securities and Exchange Commission.

 

In the opinion of management, all adjustments (which include only normal recurring adjustments and disclosures necessary to present fairly the financial position, results of operations, and cash flows at February 29, 2020 and for the related periods have been included in these financial statements.

Use of Estimates

Use of Estimates

 

Preparing financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. Actual results and outcomes may differ from management’s estimates and assumptions.

Stock-Based Compensation

Stock-Based Compensation

 

As of February 29, 2020, the Company has not issued any stock-based payments to its employees.

 

Stock-based compensation is accounted for at fair value in accordance with ASC 718, when applicable. To date, the Company has not adopted a stock option plan and has not granted any stock options.

Income Taxes

Income Taxes

 

The Company follows the liability method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences). The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

New Accounting Pronouncements

New Accounting Pronouncements

 

There were various accounting standards and interpretations issued recently, none of which are expected to a have a material impact on our financial position, operations or cash flows.

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Subsequent Events
6 Months Ended
Feb. 29, 2020
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 6 – SUBSEQUENT EVENTS

 

The Company has evaluated subsequent events from February 29, 2020 to the date the financial statements were issued and has determined that there are no items to disclose.

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Related Party Transactions (Details) - USD ($)
Feb. 29, 2020
Aug. 31, 2019
Related Party Transactions (Textual)    
Amount outstanding $ 4,850 $ 14,928
XML 30 R3.htm IDEA: XBRL DOCUMENT v3.20.1
Balance Sheets (Unaudited) (Parenthetical) - $ / shares
Feb. 29, 2020
Aug. 31, 2019
Statement of Financial Position [Abstract]    
Common stock,par value $ 0.001 $ 0.001
Common stock,shares authorized 75,000,000 75,000,000
Common stock,shares issued 2,574,000 2,574,000
Common stock,shares outstanding 2,574,000 2,574,000
XML 31 R7.htm IDEA: XBRL DOCUMENT v3.20.1
Organization and Business
6 Months Ended
Feb. 29, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
ORGANIZATION AND BUSINESS

NOTE 1 – ORGANIZATION AND BUSINESS

 

TEMIR CORP. (the “Company”) is a corporation established under the corporation laws in the State of Nevada on May 19, 2016. The Company commenced operations in tourism. Temir Corp. was a travel agency that organized individual and group tours in Kyrgyzstan, such as cultural, recreational, sport, business, ecotours and other travel tours. On July 15, 2019, the Company’s principal office relocated to Room 1204-06, 12/F, 69 Jervois Street, Sheung Wan, Hong Kong. On January 15, 2020, the Company’s principal office has been relocated to Suite 1802-03, 18/F, Strand 50, 50 Bonham Strand, Sheung Wan, Hong Kong. The management of Temir Corp is planning to restructure the Company’s business from travel agency to an investment holding with major business being diversified financials.

 

The Company has adopted August 31 fiscal year end.

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