0001213900-18-017075.txt : 20181207 0001213900-18-017075.hdr.sgml : 20181207 20181207160145 ACCESSION NUMBER: 0001213900-18-017075 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 28 CONFORMED PERIOD OF REPORT: 20181031 FILED AS OF DATE: 20181207 DATE AS OF CHANGE: 20181207 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ARION GROUP CORP. CENTRAL INDEX KEY: 0001698702 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-MISC DURABLE GOODS [5090] IRS NUMBER: 352577375 STATE OF INCORPORATION: NV FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 333-216895 FILM NUMBER: 181223464 BUSINESS ADDRESS: STREET 1: 18401 COLLINS AVE., #1220 CITY: SUNNY ISLES BEACH STATE: FL ZIP: 33160 BUSINESS PHONE: 786-577-7070 MAIL ADDRESS: STREET 1: 18401 COLLINS AVE., #1220 CITY: SUNNY ISLES BEACH STATE: FL ZIP: 33160 10-Q 1 f10q1018_ariongroupcorp.htm QUARTERLY REPORT

 

 

UNITED STATES

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 October 31, 2018

 

☐ 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. 333-216895

 

ARION GROUP CORP.

(Exact name of registrant as specified in its charter)

 

Nevada   35-2577375   5091
(State or Other Jurisdiction of   IRS Employer   Primary Standard Industrial
Incorporation or Organization)   Identification Number   Classification Code Number

 

16839 Gale Avenue #210
City of Industry, California 91748
(Address of principle executive office)(Zip Code)

 

(888) 991-6839
(Issuer’s telephone number)

 

N/A

(Former name, former address and former fiscal year, if changed since last report)

 

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 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 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.

 

N/A

 

Applicable Only to Corporate Registrants

 

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

 

Class

  Outstanding as of December 7, 2018
Common Stock, $0.001   7,630,000

 

 

 

 

 

 

ARION GROUP CORP.

 

Form 10-Q

 

Part 1. FINANCIAL INFORMATION  
Item 1. Unaudited Financial Statements 1
  Unaudited Balance Sheets 1
  Unaudited Statements of Operations 2
  Unaudited Statements of Cash Flows 3
  Notes to Unaudited Financial Statements 4
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 6
Item 3. Quantitative and Qualitative Disclosures About Market Risk 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 Disclosures 10
Item 5. Other Information 10
Item 6. Exhibits

10

 

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ARION GROUP CORP.

BALANCE SHEETS

(Unaudited)

  

  

OCTOBER 31,
2018

  

JANUARY 31,
2018

 
ASSETS        
Current Assets        
Cash  $341   $36,675 
Total current assets   341    36,675 
           
Property and equipment, net   626    974 
Inventory   2,800    - 
Total Assets  $3,767   $37,649 
LIABILITIES AND STOCKHOLDERS’ EQUITY          
Current  Liabilities          
Loan from related party  $2,663   $2,663 
Accounts payable   -    3,099 
Total current liabilities   2,663    5,762 
Total Liabilities   2,663    5,762 
           
Stockholders’ Equity          
Common stock, $0.001 par value, 75,000,000 shares authorized; 7,630,000 shares issued and outstanding   7,630    7,630 
Additional paid-in-capital   23,670    23,670 
Retained earnings (deficit)   (30,196)   587 
Total Stockholders’ equity   1,104    31,887 
           
Total Liabilities and Stockholders’ equity  $3,767   $37,649 

  

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

 

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ARION GROUP CORP.

STATEMENTS OF OPERATIONS

(Unaudited)

 

   Three months ended
October 31,
2018
   Three months ended
October 31,
2017
   Nine months ended
October 31,
2018
   Nine months ended
October 31,
2017
 
Revenue  $-   $19,400   $-   $41,400 
                     
Cost of goods sold   -    11,200    -    22,400 
Gross profit   -    8,200    -    19,000 
                     
Operating expenses                    
General and administrative expenses   3,907    3,161    30,783    10,301 
Income (loss) from operations   (3,907)   5,039    (30,783)   8,699 
Income (loss) before provision for income taxes   (3,907)   5,039    (30,783)   8,699 
                     
Provision for income taxes   -    -    -    - 
                     
Net income (loss)  $(3,907)  $5,039   $(30,783)  $8,699 
                     
Income (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   7,630,000    6,031,304    7,630,000    5,349,597 

  

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

 

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ARION GROUP CORP.

STATEMENTS OF CASH FLOWS

(Unaudited)

 

   Nine months ended
October 31,
2018
   Nine months ended
October 31,
2017
 
Cash flows from Operating Activities        
Net income (loss)  $(30,783)  $8,699 
Adjustment to reconcile net income (loss) to net cash provided by operating activities          
Depreciation   348    310 
Changes in operating assets and liabilities          
Increase in Inventory   (2,800)   (2,800)
Decrease in  Accounts payable   (3,099)   - 
Net cash provided by (used in) operating activities   (36,334)   6,209 
           
Cash flows from Investing Activities          
Purchase of property and equipment   -    (1,400)
Net cash used in investing activities   -    (1,400)
           
Cash flows from Financing Activities          
Proceeds from sale of common stock   -    26,300 
Net cash provided by financing activities   -    26,300 
           
Net increase (decrease) in cash   (36,334)   31,109 
Cash at beginning of the period   36,675    4,583 
Cash at end of the period  $341   $35,692 
Supplemental cash flow information:          
Cash paid for:          
Interest  $-   $- 
Taxes  $-   $- 

  

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

 

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ARION GROUP CORP.

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS

FOR THE NINE MONTHS ENDED OCTOBER 31, 2018

 

NOTE 1 – ORGANIZATION AND BUSINESS

 

ARION GROUP CORP. (“we”, “our”, the “Company”) is a corporation established under the corporation laws in the State of Nevada on November 7, 2016. The Company has adopted January 31 as its fiscal year end. The Company is in the business of distribution of cedar phyto barrels.

 

Basis of Presentation and Going Concern

 

The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information; they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and results of operations for the interim period presented have been reflected herein. Operating results for the nine months ended October 31, 2018 are not necessarily indicative of the final results that may be expected for the year ending January 31, 2019. For more complete financial information, these unaudited financial statements should be read in conjunction with the audited financial statements for the year ended January 31, 2018.

 

NOTE 2 – GOING CONCERN

 

The Company’s financial statements as of and for the nine months ended October 31, 2018 have been prepared using generally accepted accounting principles in the United States of America applicable to 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 losses from inception (November 7, 2016) to October 31, 2018 of $30,196. These factors, among others, raise substantial doubt about the ability of the Company to continue as a going concern for a reasonable period of time.

 

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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NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Use of Estimates

 

Preparing financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. Actual results and outcomes may differ from management’s estimates and assumptions.

 

Revenue Recognition

 

The Company adopted ASC 606, “Revenue From Contracts With Customers“(“Topic 606”). The Company adopted ASC 606 effective February 1, 2018. The results of applying Topic 606 using the modified retrospective approach were insignificant and did not have a material impact on our consolidated financial condition, results of operations, cash flows, business process, controls or systems.

 

This standard provides guidance for the recognition, measurement and disclosure of revenue from contracts with customers and supersedes previous revenue recognition guidance under U.S. GAAP.

 

New Accounting Pronouncements

 

The Company adopted ASU No. 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash” (“ASU 2016-18”) effective February 1, 2018. The amendments in ASU No. 2016-18 require an entity to reconcile and explain the period-over-period change in total cash, cash equivalents and restricted cash within its statements of cash flows. ASU No. 2016-18 is effective for fiscal years (including interim reporting periods within those years) beginning after December 15, 2017. The adoption of ASU 2016-18 did not have a material impact on our financial position, operations or cash flows.

 

There were other 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.

 

NOTE 4 – 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 November 7, 2016 (Inception) through October 31, 2018, the Company’s sole officer, shareholder and director loaned the Company $2,663 to pay for incorporation costs and operating expenses. As of October 31, 2018, the amount outstanding was $2,663. The loan is non-interest bearing, due upon demand and unsecured.

 

The Company’s sole officer, shareholder and director provides the office to the Company. We do not pay any rent to Ms. Kriukova and there is no agreement to pay any rent in the future.

 

NOTE 5 – SUBSEQUENT EVENTS

 

Effective on November 21, 2018 (the “Closing Date”), Ms. Nataliia Kriukova, the principal shareholder of the Company (the “Seller”), entered into a Stock Purchase Agreement (the “Agreement”) dated October 25, 2018 and amendments thereto, with Mingyong Huang, an individual (the “Buyer”), pursuant to which, among other things, the Seller agreed to sell to the Buyer, and the Buyer agreed to purchase from the Seller, a total of 5,000,000 shares of Common Stock owned of record and beneficially by the Seller (the “Purchased Shares”). The Purchased Shares represented approximately 65.53% of the Company’s issued and outstanding shares of Common Stock. In connection with the Closing of the transaction and in accordance with the Agreement, the Board appointed Mingyong Huang, Benson Liao and Hui Song to fill vacancies on the Company’s Board of Directors caused by the resignation of Ms. Nataliia Kriukova. In addition, Mr. Huang was appointed CEO, President and CFO of the Company and Ms. Maria Itzel Torres Siegrist was appointed Secretary of the Company.

 

On November 28, 2018, the Company paid off the outstanding loan to its prior sole officer, Ms. Kriukova.

 

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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.

 

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

 

General

 

Arion Group Corp. was incorporated in the State of Nevada on November 7, 2016 and established a fiscal year end of January 31. We are a start-up company in the business of distribution of cedar phyto barrels in the USA and Europe.

 

We market and distribute an assortment of cedar phyto barrels in the USA and Europe. Our products will be offered at prices marked-up from 80% to 100% of our cost. Our customers will be asked to pay us 100% in advance. We fill placed orders and supply the products within a period of thirty days (30) days or less following receipt of any written order. We do not intend to offer any credit terms relating to order payments. Customers will have two options to pay for products: by wire transfer or by sending a check/money order. If customer decides to pay by check/money order, then we will apply a certain amount of days before shipping to have the check/money order cleared. Customers will be responsible to cover the shipping costs. Since we anticipate having a 30-day period to process/fill orders, we do not plan to purchase inventory in advance, but rather on request basis. We do not intend to store inventory for any period of time. The orders will be shipped to the customers upon customers’ requests. Customers will be responsible for the custom duties, taxes, insurance or any other additional charges that might incur.

 

We purchase our cedar phyto barrels from manufactures in Russia and the USA and ship them to our clients in the USA and Europe. There are many large manufactures of cedar phyto barrels such as Novosibirsk Cedar Factory (Novosibirsk), Hot-Tub (Noginsk), OOO Kedr Sibiri (Barnaul), EcoLife (Novosibirsk), KedrProm (Novosibirsk) as well as small manufactures that can produce any custom-made cedar phyto barrels. We intend to work with both, with large and small manufactures. As of today, we purchase our cedar phyto barrels from a small manufacturer in the USA.

 

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RESULTS OF OPERATIONS

 

Three Months Ended October 31, 2018 compared to Three Months Ended October 31, 2017

 

Revenue

 

During the three months ended October 31, 2018 we have not generated any revenue compared to $19,400 during the three months ended October 31, 2017.

 

Operating Expenses

 

During the three month period ended October 31, 2018, we incurred $3,907 in general and administrative expenses compared to $3,161 in 2017 and $0 in cost of goods sold compared to $11,200 during the three month period ended October 31,2017. General and administrative expenses incurred are generally related to corporate overhead, financial and administrative contracted services, such as legal and accounting and developmental costs.

 

Net Loss

 

Our net loss for the three months ended October 31, 2018 was $3,907 compared to $5,039 of net income for the three months ended October 31, 2017.

 

Nine Months Ended October 31, 2018 compared to Nine Months Ended October 31, 2017

 

Revenue

 

During the nine months ended October 31, 2018 we have not generated any revenue compared to $41,400 during the nine months ended October 31, 2017.

 

Operating Expenses

 

During the nine month period ended October 31, 2018, we incurred $30,783 in general and administrative expenses compared to $10,301 in 2017 and $0 in cost of goods sold compared to $22,400 during the nine month period ended October 31,2017. General and administrative expenses incurred are generally related to corporate overhead, financial and administrative contracted services, such as legal and accounting and developmental costs.

 

Net Loss

 

Our net loss for the nine months ended October 31, 2018 was $30,783 compared to $8,699 of net income for the nine months ended October 31, 2017.

 

LIQUIDITY AND CAPITAL RESOURCES

 

As of October 31, 2018

 

As of October 31, 2018 our total assets were $3,767 compared to $37,649 in total assets at January 31, 2018. As of October 31, 2018 our current liabilities were $2,663 compared to $5,762 as of January 31, 2018.

 

Stockholders’ equity was $1,104 as of October 31, 2018 compared to $31,887 as of January 31, 2018.

  

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Cash Flows from Operating Activities

 

For the nine months ended October 31, 2018, cash flow used in operating activities was $36,334 consisting of a net loss of $30,783, depreciation of $348, purchase of inventory of $2,800 and decrease of accounts payable of $3,099. For the nine months ended October 31,2017, cash flow provided by operating activities was $6,209 consisting of a net income of $8,699, depreciation of $310 and increase in inventory of $2,800.

 

Cash flows from Investing Activities

 

For the nine months ended October 31, 2018, cash flow used in investing activities was none compared to $1,400 for the nine months ended October 31,2017.

 

Cash flows from Financing Activities

 

During the nine months ended October 31, 2018 cash flow provided by financing activities was none compared to $26,300 for the nine months ended October 31, 2017 received from proceeds from issuance of common stock.

 

PLAN OF OPERATION AND FUNDING

 

We expect that working capital requirements will continue to be funded through a combination of our existing funds and further issuances of securities. Our working capital requirements are expected to increase in line with the growth of our business.

 

Existing working capital, further advances and debt instruments, and anticipated cash flow are expected to be adequate to fund our operations over the next three 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.

 

MATERIAL COMMITMENTS

 

As of the date of this Quarterly Report, we do not have any material commitments.

 

PURCHASE OF SIGNIFICANT EQUIPMENT

 

We do not intend to purchase any significant equipment during the next twelve months.

 

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.

 

GOING CONCERN

 

The independent auditor’s report accompanying our January 31, 2018 financial statements contains an explanatory paragraph expressing substantial doubt about our ability to continue as a going concern. The financial statements have been prepared "assuming that we will continue as a going concern," which contemplates that we will realize our assets and satisfy our liabilities and commitments in the ordinary course of business.

 

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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 this information.

 

ITEM 4.  CONTROLS AND PROCEDURES

 

Our management is responsible for establishing and maintaining a system of disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act) that is 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 Commission’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer’s management, including its principal executive officer or officers and principal financial officer or officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

 

An evaluation was conducted under the supervision and with the participation of our management of the effectiveness of the design and operation of our disclosure controls and procedures as of October 31, 2018. Based on that evaluation, our management concluded that as a result of material weaknesses related to lack of segregation of duties and multiple levels of review over the financial reporting process, our disclosure controls and procedures were not effective as of such date to ensure that information required to be disclosed in the reports that we file or submit under the Exchange Act, is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms. Such officer also confirmed that there was no change in our internal control over financial reporting during the nine month period ended October 31, 2018 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

 

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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

 

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

 

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

 

No unregistered shares were sold during the nine month period ended October 31, 2018.

 

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

 

No senior securities were issued and outstanding during nine month period ended October 31, 2018.

 

ITEM 4. MINE SAFETY DISCLOSURES

 

Not applicable to our Company.

 

ITEM 5. OTHER INFORMATION

 

None.

 

ITEM 6. EXHIBITS

 

Exhibits:

 

31.1 Certification of Chief Executive Officer and Chief Financial Officer pursuant to Securities Exchange Act of 1934 Rule 13a-14(a) or 15d-14(a)
32.1 Certifications pursuant to Securities Exchange Act of 1934 Rule 13a-14(b) or 15d-14(b) and 18 U.S.C. Section 1350, as adopted 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 Document
101.LAB XBRL Taxonomy Extension Label Linkbase Document
101.PRE XBRL Taxonomy Extension Presentation Linkbase Document

  

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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.

 

Dated: December 7, 2018 ARION GROUP CORP.
   
By: /s/ Mingyong Huang
 

 

Mingyong Huang,

President and Chief Executive Officer and

Chief Financial Officer

  

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EX-31.1 2 f10q1018ex31-1_ariongroup.htm CERTIFICATION

Exhibit 31.1

 

CERTIFICATION

 

I, Mingyong Huang, President and Chief Executive Officer and Chief Financial Officer of ARION GROUP CORP., certify that:

 

1.I have reviewed this Quarterly Report on Form 10-Q of ARION GROUP CORP.;

 

2.Based on my knowledge, this report does not contain any untrue statement of material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by quarterly 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(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 control 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;

 

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: December 7, 2018

  

/s/ Mingyong Huang  
Mingyong Huang, President,  
Chief Executive Officer and Chief Financial Officer  

 

EX-32.1 3 f10q1018ex32-1_ariongroup.htm CERTIFICATION

Exhibit 32.1

 

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

In connection with the Quarterly Report of ARION GROUP CORP. (the "Company") on Form 10-Q for the period ended October 31, 2018 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), the undersigned, in the capacities and on the dates indicated below, hereby certifies pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to his knowledge:

 

1.The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

2.The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

Date: December 7, 2018

 

/s/ Mingyong Huang  
Mingyong Huang, President,  
Chief Executive Officer and  
Chief Financial Officer  

 

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NOTE 1 – ORGANIZATION AND BUSINESS

 

ARION GROUP CORP. (“we”, “our”, the “Company”) is a corporation established under the corporation laws in the State of Nevada on November 7, 2016. The Company has adopted January 31 as its fiscal year end. The Company is in the business of distribution of cedar phyto barrels.

 

Basis of Presentation and Going Concern

 

The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information; they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and results of operations for the interim period presented have been reflected herein. Operating results for the nine months ended October 31, 2018 are not necessarily indicative of the final results that may be expected for the year ending January 31, 2019. For more complete financial information, these unaudited financial statements should be read in conjunction with the audited financial statements for the year ended January 31, 2018.

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GOING CONCERN

NOTE 2 – GOING CONCERN

 

The Company’s financial statements as of and for the nine months ended October 31, 2018 have been prepared using generally accepted accounting principles in the United States of America applicable to 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 losses from inception (November 7, 2016) to October 31, 2018 of $30,196. These factors, among others, raise substantial doubt about the ability of the Company to continue as a going concern for a reasonable period of time.

 

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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Summary of Significant Accounting Policies
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Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Use of Estimates

 

Preparing financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. Actual results and outcomes may differ from management’s estimates and assumptions.

 

Revenue Recognition

 

The Company adopted ASC 606, “Revenue From Contracts With Customers“(“Topic 606”). The Company adopted ASC 606 effective February 1, 2018. The results of applying Topic 606 using the modified retrospective approach were insignificant and did not have a material impact on our consolidated financial condition, results of operations, cash flows, business process, controls or systems.

 

This standard provides guidance for the recognition, measurement and disclosure of revenue from contracts with customers and supersedes previous revenue recognition guidance under U.S. GAAP.

 

New Accounting Pronouncements

 

The Company adopted ASU No. 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash” (“ASU 2016-18”) effective February 1, 2018. The amendments in ASU No. 2016-18 require an entity to reconcile and explain the period-over-period change in total cash, cash equivalents and restricted cash within its statements of cash flows. ASU No. 2016-18 is effective for fiscal years (including interim reporting periods within those years) beginning after December 15, 2017. The adoption of ASU 2016-18 did not have a material impact on our financial position, operations or cash flows.

 

There were other 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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Related Party Transactions
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RELATED PARTY TRANSACTIONS

NOTE 4 – 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 November 7, 2016 (Inception) through October 31, 2018, the Company’s sole officer, shareholder and director loaned the Company $2,663 to pay for incorporation costs and operating expenses. As of October 31, 2018, the amount outstanding was $2,663. The loan is non-interest bearing, due upon demand and unsecured.

 

The Company’s sole officer, shareholder and director provides the office to the Company. We do not pay any rent to Ms. Kriukova and there is no agreement to pay any rent in the future.

XML 19 R10.htm IDEA: XBRL DOCUMENT v3.10.0.1
Subsequent Events
9 Months Ended
Oct. 31, 2018
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 5 – SUBSEQUENT EVENTS

 

Effective on November 21, 2018 (the “Closing Date”), Ms. Nataliia Kriukova, the principal shareholder of the Company (the “Seller”), entered into a Stock Purchase Agreement (the “Agreement”) dated October 25, 2018 and amendments thereto, with Mingyong Huang, an individual (the “Buyer”), pursuant to which, among other things, the Seller agreed to sell to the Buyer, and the Buyer agreed to purchase from the Seller, a total of 5,000,000 shares of Common Stock owned of record and beneficially by the Seller (the “Purchased Shares”). The Purchased Shares represented approximately 65.53% of the Company’s issued and outstanding shares of Common Stock. In connection with the Closing of the transaction and in accordance with the Agreement, the Board appointed Mingyong Huang, Benson Liao and Hui Song to fill vacancies on the Company’s Board of Directors caused by the resignation of Ms. Nataliia Kriukova. In addition, Mr. Huang was appointed CEO, President and CFO of the Company and Ms. Maria Itzel Torres Siegrist was appointed Secretary of the Company.

 

On November 28, 2018, the Company paid off the outstanding loan to its prior sole officer, Ms. Kriukova.

XML 20 R11.htm IDEA: XBRL DOCUMENT v3.10.0.1
Summary of Significant Accounting Policies (Policies)
9 Months Ended
Oct. 31, 2018
Accounting Policies [Abstract]  
Use of Estimates

Use of Estimates

 

Preparing financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. Actual results and outcomes may differ from management’s estimates and assumptions.

Revenue Recognition

Revenue Recognition

 

The Company adopted ASC 606, “Revenue From Contracts With Customers“(“Topic 606”). The Company adopted ASC 606 effective February 1, 2018. The results of applying Topic 606 using the modified retrospective approach were insignificant and did not have a material impact on our consolidated financial condition, results of operations, cash flows, business process, controls or systems.

 

This standard provides guidance for the recognition, measurement and disclosure of revenue from contracts with customers and supersedes previous revenue recognition guidance under U.S. GAAP.

New Accounting Pronouncements

New Accounting Pronouncements

 

The Company adopted ASU No. 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash” (“ASU 2016-18”) effective February 1, 2018. The amendments in ASU No. 2016-18 require an entity to reconcile and explain the period-over-period change in total cash, cash equivalents and restricted cash within its statements of cash flows. ASU No. 2016-18 is effective for fiscal years (including interim reporting periods within those years) beginning after December 15, 2017. The adoption of ASU 2016-18 did not have a material impact on our financial position, operations or cash flows.

 

There were other 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.

XML 21 R12.htm IDEA: XBRL DOCUMENT v3.10.0.1
Going Concern (Details) - USD ($)
Oct. 31, 2018
Jan. 31, 2018
Going Concern (Textual)    
Accumulated losses $ (30,196) $ 587
XML 22 R13.htm IDEA: XBRL DOCUMENT v3.10.0.1
Related Party Transactions (Details) - USD ($)
24 Months Ended
Oct. 31, 2018
Jan. 31, 2018
Related Party Transactions (Textual)    
Loan from Company's sole officer, shareholder and director $ 2,663  
Due to related party $ 2,663 $ 2,663
XML 23 R14.htm IDEA: XBRL DOCUMENT v3.10.0.1
Subsequent Events (Details)
1 Months Ended
Nov. 21, 2018
Subsequent Events [Member]  
Subsequent Events (Textual)  
Share purchase agreement, description Effective on November 21, 2018 (the "Closing Date"), Ms. Nataliia Kriukova, the principal shareholder of the Company (the "Seller"), entered into a Stock Purchase Agreement (the "Agreement") dated October 25, 2018 and amendments thereto, with Mingyong Huang, an individual (the "Buyer"), pursuant to which, among other things, the Seller agreed to sell to the Buyer, and the Buyer agreed to purchase from the Seller, a total of 5,000,000 shares of Common Stock owned of record and beneficially by the Seller (the "Purchased Shares"). The Purchased Shares represented approximately 65.53% of the Company's issued and outstanding shares of Common Stock.
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