0000766404 2021-02-01 2021-10-31 0000766404 2021-11-17 0000766404 2021-10-31 0000766404 2021-01-31 0000766404 2021-08-01 2021-10-31 0000766404 2020-08-01 2020-10-31 0000766404 2020-02-01 2020-10-31 0000766404 us-gaap:CommonStockMember 2021-07-31 0000766404 us-gaap:AdditionalPaidInCapitalMember 2021-07-31 0000766404 us-gaap:RetainedEarningsMember 2021-07-31 0000766404 2021-07-31 0000766404 us-gaap:RetainedEarningsMember 2021-08-01 2021-10-31 0000766404 us-gaap:CommonStockMember 2021-10-31 0000766404 us-gaap:AdditionalPaidInCapitalMember 2021-10-31 0000766404 us-gaap:RetainedEarningsMember 2021-10-31 0000766404 us-gaap:CommonStockMember 2020-07-31 0000766404 us-gaap:AdditionalPaidInCapitalMember 2020-07-31 0000766404 us-gaap:RetainedEarningsMember 2020-07-31 0000766404 2020-07-31 0000766404 us-gaap:RetainedEarningsMember 2020-08-01 2020-10-31 0000766404 us-gaap:CommonStockMember 2020-10-31 0000766404 us-gaap:AdditionalPaidInCapitalMember 2020-10-31 0000766404 us-gaap:RetainedEarningsMember 2020-10-31 0000766404 2020-10-31 0000766404 us-gaap:CommonStockMember 2021-01-31 0000766404 us-gaap:AdditionalPaidInCapitalMember 2021-01-31 0000766404 us-gaap:RetainedEarningsMember 2021-01-31 0000766404 us-gaap:RetainedEarningsMember 2021-02-01 2021-10-31 0000766404 us-gaap:CommonStockMember 2020-01-31 0000766404 us-gaap:AdditionalPaidInCapitalMember 2020-01-31 0000766404 us-gaap:RetainedEarningsMember 2020-01-31 0000766404 2020-01-31 0000766404 us-gaap:RetainedEarningsMember 2020-02-01 2020-10-31 0000766404 msof:LenderMajorityShareholderMember us-gaap:LineOfCreditMember us-gaap:MajorityShareholderMember 2021-09-10 0000766404 msof:LenderMajorityShareholderMember us-gaap:LineOfCreditMember us-gaap:MajorityShareholderMember 2021-09-10 2021-09-10 0000766404 msof:LenderMajorityShareholderMember us-gaap:LineOfCreditMember us-gaap:MajorityShareholderMember 2021-10-31 0000766404 msof:LenderMajorityShareholderMember us-gaap:LineOfCreditMember us-gaap:MajorityShareholderMember 2021-01-31 0000766404 msof:LenderMajorityShareholderMember us-gaap:LineOfCreditMember 2021-08-01 2021-10-31 0000766404 msof:LenderMajorityShareholderMember us-gaap:LineOfCreditMember 2020-08-01 2020-10-31 0000766404 msof:LenderMajorityShareholderMember us-gaap:LineOfCreditMember 2021-02-01 2021-10-31 0000766404 msof:LenderMajorityShareholderMember us-gaap:LineOfCreditMember us-gaap:MajorityShareholderMember 2020-02-01 2020-10-31 shares iso4217:USD iso4217:USD shares pure false 0000766404 --01-31 2021 Q3 10-Q true 2021-10-31 false MULTI SOFT II, INC FL 000-15976 22-2588030 4400 Biscayne Boulevard, 10th Floor Miami FL 33137 305 579-8000 Common Stock, par value $.001 per share MSOF Yes Yes false true Non-accelerated Filer true 1233853

13946

2711

13946

2711

22622

75370

22622

75370

890599

762846

913221

838216

50000000

0.001

200000000

0.001

1233853

1233

81323

-981831

-918061

-899275

-835505

13946

2711

7337

7029

22972

22787

7337

7029

22972

22787

-7337

-7029

-22972

-22787

14402

12752

40798

37786

14402

12752

40798

37786

-21739

-19781

-63770

-60573

-21739

-19781

-63770

-60573

-0.02

-0.05

1233853

1233

81323

-960092

-877536

-21739

1233853

1233

81323

-981831

-899275

1233853

1233

81323

-868368

-785812

-19781

1233853

1233

81323

-888149

-805593

1233853

1233

81323

-918061

-835505

-63770

1233853

1233

81323

-981831

-899275

1233853

1233

81323

-827576

-745020

-60573

1233853

1233

81323

-888149

-805593

-63770

-60573

40798

37786

-52748

-5099

-75720

-27886

86955

10000

86955

10000

11235

-17886

2711

26642

13946

8756

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">(A) Organization, Basis of Presentation and liquidity</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%"> </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Multi Soft II, Inc.'s (the "Company") business purpose is to investigate and, if such investigation warrants, acquire a target company or business seeking the perceived advantages of being a publicly held corporation. The Company's business objective for the next twelve months and beyond will be to achieve long-term growth potential through a combination with a business, rather than immediate, short-term earnings. The Company's search for a business opportunity will not be limited to any particular geographical area or industry, including both domestic and international companies. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company does not have any revenues from operations and, absent a merger or other combination with an operating company, or a public or private sale of the Company's equity or debt securities, the occurrence of either of which cannot be assured, the Company will be dependent upon future loans or equity investments from the Company's present shareholders or management, for which there is no existing commitment except as disclosed in Note 2. Although the Company has no present commitment from any such parties to provide funding, except as disclosed in Note 2, if the Company reaches the point where the Company needs funds to remain in operation, the Company will attempt to raise funds from the Company's present shareholders or management in the form of equity or debt. If, in such situation, the Company is unable to raise funds from those parties, it is likely that the Company's business would cease operations. As disclosed in Note 2, the Company increased its borrowing capacity on the credit facility to $600,000. As of October 31, 2021, the Company believes it has adequate cash and available borrowing capacity under the credit facility to sustain operations for the next twelve months from the issuance date of this report.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">In order to minimize potential conflicts of interest which may arise because the Company's directors and officers also serve as the directors and officers of Multi Solutions II, Inc., an entity under common control, each of the Company's officers and directors have entered into an agreement with the Company and Multi Solutions II, Inc. whereby all parties have each agreed that the Company will not analyze or consider any possible business combination opportunities until Multi Solutions II, Inc. has agreed to consummate a business combination.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The unaudited interim condensed financial statements of the Company as of October 31, 2021 and for the three and nine months ended October 31, 2021 and 2020 included herein have been prepared in accordance with generally accepted accounting principles for interim financial information, the instructions for Form 10-Q, and Article 8 of Regulation S-X. Certain information and note disclosures normally included in complete financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations relating to interim condensed financial statements. In the opinion of management, the accompanying unaudited interim condensed financial statements reflect all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the financial position of the Company at October 31, 2021, the results of its operations for the three and nine months ended October 31, 2021 and 2020, and the results of its cash flows for the nine months ended October 31, 2021 and 2020. The results of operations and cash flows for such periods are not necessarily indicative of results expected for the full year or for any future period. These condensed financial statements should be read in conjunction with the financial statements and the notes thereto included in the Company's Annual Report on Form 10-K for the year ended January 31, 2021 filed with the Securities and Exchange Commission.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">(B) Financial Instruments</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The carrying amounts of cash and accounts payable approximate their fair values due to their short term nature and that they are receivable or payable upon demand. However, considerable judgment is involved in making fair value determinations and current estimates of fair value may differ significantly from amounts presented herein.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">(C) Use of Estimates</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">In preparing financial statements in conformity with generally accepted accounting principles, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and expenses during the reported period. Actual results could differ from those estimates.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%"> </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">(D) Cash Equivalents</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%"> </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company considers all highly liquid cash investments with an original maturity of three months or less to be cash equivalents. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">(E) Loss Per Share</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%"> </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Basic loss per share is calculated based on loss available to common shareholders and the weighted-average number of shares outstanding during the reporting period. Diluted loss per share is calculated based on losses attributable to common shareholders and the weighted-average number of common and potential common shares outstanding during the reporting period. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">(F) Recently Issued Accounting Standards</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Management does not believe that any recently issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company's financial statements.</span></div>

Organization, Basis of Presentation and liquidity<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%"> </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Multi Soft II, Inc.'s (the "Company") business purpose is to investigate and, if such investigation warrants, acquire a target company or business seeking the perceived advantages of being a publicly held corporation. The Company's business objective for the next twelve months and beyond will be to achieve long-term growth potential through a combination with a business, rather than immediate, short-term earnings. The Company's search for a business opportunity will not be limited to any particular geographical area or industry, including both domestic and international companies. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company does not have any revenues from operations and, absent a merger or other combination with an operating company, or a public or private sale of the Company's equity or debt securities, the occurrence of either of which cannot be assured, the Company will be dependent upon future loans or equity investments from the Company's present shareholders or management, for which there is no existing commitment except as disclosed in Note 2. Although the Company has no present commitment from any such parties to provide funding, except as disclosed in Note 2, if the Company reaches the point where the Company needs funds to remain in operation, the Company will attempt to raise funds from the Company's present shareholders or management in the form of equity or debt. If, in such situation, the Company is unable to raise funds from those parties, it is likely that the Company's business would cease operations. As disclosed in Note 2, the Company increased its borrowing capacity on the credit facility to $600,000. As of October 31, 2021, the Company believes it has adequate cash and available borrowing capacity under the credit facility to sustain operations for the next twelve months from the issuance date of this report.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">In order to minimize potential conflicts of interest which may arise because the Company's directors and officers also serve as the directors and officers of Multi Solutions II, Inc., an entity under common control, each of the Company's officers and directors have entered into an agreement with the Company and Multi Solutions II, Inc. whereby all parties have each agreed that the Company will not analyze or consider any possible business combination opportunities until Multi Solutions II, Inc. has agreed to consummate a business combination.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The unaudited interim condensed financial statements of the Company as of October 31, 2021 and for the three and nine months ended October 31, 2021 and 2020 included herein have been prepared in accordance with generally accepted accounting principles for interim financial information, the instructions for Form 10-Q, and Article 8 of Regulation S-X. Certain information and note disclosures normally included in complete financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations relating to interim condensed financial statements. In the opinion of management, the accompanying unaudited interim condensed financial statements reflect all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the financial position of the Company at October 31, 2021, the results of its operations for the three and nine months ended October 31, 2021 and 2020, and the results of its cash flows for the nine months ended October 31, 2021 and 2020. The results of operations and cash flows for such periods are not necessarily indicative of results expected for the full year or for any future period. These condensed financial statements should be read in conjunction with the financial statements and the notes thereto included in the Company's Annual Report on Form 10-K for the year ended January 31, 2021 filed with the Securities and Exchange Commission.</span></div>

600000

Financial InstrumentsThe carrying amounts of cash and accounts payable approximate their fair values due to their short term nature and that they are receivable or payable upon demand. However, considerable judgment is involved in making fair value determinations and current estimates of fair value may differ significantly from amounts presented herein.

Use of EstimatesIn preparing financial statements in conformity with generally accepted accounting principles, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and expenses during the reported period. Actual results could differ from those estimates.

Cash Equivalents The Company considers all highly liquid cash investments with an original maturity of three months or less to be cash equivalents.

Loss Per Share Basic loss per share is calculated based on loss available to common shareholders and the weighted-average number of shares outstanding during the reporting period. Diluted loss per share is calculated based on losses attributable to common shareholders and the weighted-average number of common and potential common shares outstanding during the reporting period.

Recently Issued Accounting StandardsManagement does not believe that any recently issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company's financial statements.

DUE TO SHAREHOLDER<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company has a Credit Facility with its majority shareholder, whereby, the Credit Facility provides the principal amount up to $600,000, as amended as of September 10, 2021, of financing to the Company for working capital purposes. Amounts outstanding under the Credit Facility accrue interest at an annual interest rate of 11% and mature in December 2023. As of October 31, 2021 and January 31, 2021, respectively, principal and interest outstanding under the Credit Facility totaled $890,599 and $762,846, including principal of $547,112 and $460,157, respectively, and accrued interest of $343,487 and $302,689, respectively.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Interest expense related to the credit facility was $14,402 and $12,752 for the three months ended October 31, 2021 and 2020, respectively; and, $40,798 and $37,786 for the nine months ended October 31, 2021 and 2020, respectively.</span></div>

600000

0.11

890599

762846

547112

460157

343487

302689

14402

12752

40798

37786