PART I

ITEM 1. BUSINESS

Business DevelopmentBackground

Concept Holding Corp.Xenous Holdings, Inc. (the “Company”) was originally incorporated on May 20, 1980 as Dayne Weiss and Associates, Inc. under the laws of the State of Utah on May 20, 1980.  In 2014,Utah.

On January 4, 1990, the Company acquired Concept HoldingTechnologies, Inc. (CTI) which then became a wholly owned subsidiary of the Company . CTI was dissolved in January 1991 and the name of Company was changed its domicile to Nevada.  Concept Holding operated several businesses since its formation but terminated its last operation and has been looking for a new business opportunity.Technologies, Inc.

On December 9,19, 2014, the Company completed a change of domiciliary merger and moved the Company’s state of incorporation to Nevada changing the name to Concept Holding Corporation.

On July 21, 2017, the Board of Directors of the Company elected to file Articles of Merger with the Nevada SOS whereby it would enter into a statutory merger with its wholly-owned subsidiary, M101 Corp., a Nevada corporation, pursuant to Nevada Revised Statutes 92A.200, et seq. The effect of such merger is that the Company is the surviving entity and increasingchanged its authorized capitalname to 100,000,000 shares with 90,000,000 shares“M101 Corp.” The merger took effect on August 14, 2017. The Company currently has no business operations.

On November 2, 2019, a majority of common stock, par value $0.001 per share, and 10,000,000 sharesshareholders approved a resolution to change the name of preferred stock, par value $0.001 per share.the Company to Xenous Holdings, Inc.. On November 19, 2019, the Company received notice that the Secretary of State of Nevada accepted the Company’s Certificate of Amendment to its Articles of Incorporation to change the name of the Company to Xenous Holdings, Inc.

Since its merger on August 14, 2017, the Company had no business operations.

Description of Business

We are currently seeking and investigating potential assets, property or businesses to acquire. We currently have no material business operations. Our plan of operation for the next 12 months is to: (i) consider guidelines of industries in which we may have an interest; (ii) adopt a business plan regarding engaging in the business of any selected industry; and (iii) to commence such operations through funding and/or the acquisition of a “going concern” engaged in any industry selected. We are unable to predict the time as to when and if we may actually participate in any specific business endeavor, and will be unable to do so until we determine any particular industry in which we may engage.

We are not currently engaged in any substantive business activity except the search for potential assets, property or businesses to acquire, and we have no current plans to engage in any other activity in the foreseeable future unless and until we complete any such acquisition. In our present form, we are deemed to be a vehicle to acquire or merge with a business or company. We do not intend to restrict our search for business opportunities to any particular business or industry, and the areas in which we will seek out business opportunities or acquisitions, reorganizations or mergers may include all lawful businesses. We recognize that the number of suitable potential business ventures that may be available to us may be extremely limited, and may be restricted as to acquisitions, reorganizations and mergers with businesses or entities that desire to avoid what such entities may deem to be the adverse factors related to an initial public offering (“IPO”) as a method of going public. The most prevalent of these factors include substantial time requirements, legal and accounting costs, the inability to obtain an underwriter who is willing to publicly offer and sell shares, the lack of or the inability to obtain the required financial statements for such an undertaking, state limitations on the amount of dilution to public investors in comparison to the stockholders of any such entities, along with other conditions or requirements imposed by various federal and state securities laws, rules and regulations and federal and state agencies that implement such laws, rules and regulations.

Any target acquisition or merger candidate will become subject to the same reporting requirements as the Company following finalization of an acquisition or merger. Thus, in the event the Company successfully completes the acquisition of or merger with an operating business, that business must provide audited financial statements for at least the two most recent fiscal years or, in the event it has been in business for less than two years, audited financial statements will be required from the period of inception. This could limit the Company'sCompany’s potential target business opportunities due to the fact that many private businesses either do not have audited financial statements or are unable to produce audited statements without undo time and expense. See the caption “Regulations” hereinafter.

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The Company recognizes that the number of suitable potential business ventures that may be available may be extremely limited, and may be restricted as to acquisitions, reorganizations and mergers with businesses or entities that desire to avoid what such entities may deem to be the adverse factors related to an initial public offering (“IPO”) as a method of going public.  The most prevalent of these factors include substantial time requirements, legal and accounting costs, the inability to obtain an underwriter who is willing to publicly offer and sell shares, the lack of or the inability to obtain the required financial statements for such an undertaking, state limitations on the amount of dilution to public investors in comparison to the stockholders of any such entities, along with other conditions or requirements imposed by various federal and state securities laws, rules and regulations and federal and state agencies that implement such laws, rules and regulations.

Since the termination of its prior business, ConceptXenous has had no operations other than seeking an acquisition or merger to bring an operating entity into the Company. The Company’s sole executive officer, Thomas Howells, doesofficers and directors do not propose to restrict histheir search for a business opportunity to any particular industry or geographical area and may, therefore, engage in essentially any business in any industry. The Company has unrestricted discretion in seeking and participating in a business opportunity, subject to the availability of such opportunities, economic conditions, and other factors.

The selection of a business opportunity in which to participate is complex and risky. Additionally, the Company has only limited resources and may find it difficult to locate good opportunities. There can be no assurance that Mr. Howellsthe Company will be able to identify and acquire any business opportunity which will ultimately prove to be beneficial to ConceptXenous and its stockholders. Mr. HowellsThe Company’s officers and directors will select any potential business opportunity based on histheir business judgment.

The Company is not currently conducting any business, nor has it conducted any business for several years. Therefore, it does not possess products or services, distribution methods, competitive business positions, or major customers. The Company does not possess any unexpired patents or trademarks and any and all of its licensing and royalty agreements from the insurance it sought to market in the past have since expired, and are not currently valid.trademarks. The Company does not employhave any employees.

Amendments to Form 8-K by the SEC regarding shell companies and transactions with shell companies that require the filing of all information about an acquired company that would have been required to have been filed had any such company filed a Form 10 with the SEC, along with required audited, interim and proforma financial statements, within four business days of the closing of any such transaction (Item 5.01(a)(8) of Form 8-K); and the recent amendments to Rule 144 adopted by the SEC, that were effective on February 15, 2008, limit the resale of most securities of shell companies until one year after the filing of such information, may eliminate many of the perceived advantages of these types of going public transactions. These types of transactions are customarily referred to as “reverse” reorganizations or mergers in which the acquired company’s shareholders become controlling shareholders in the acquiring company and the acquiring company becomes the successor to the business operations of the acquired company. Regulations governing shell companies also deny the use of Form S-8 for the registration of securities and limit the use of this Form to a reorganized “shell company” until the expiration of 60 days from when any such entity is no longer considered to be a shell company. This prohibition could further restrict opportunities for us to acquire companies that may already have stock option plans in place that cover numerous employees. In such instances, there may be no exemption from registration for the issuance of securities in any business combination to these employees, thereby necessitating the filing of a registration statement with the SEC to complete any such reorganization, and incurring the time and expense that are normally avoided by reverse reorganizations or mergers.

Amendments to Rule 144, adopted by the SEC and effective on February 15, 2008, codify the SEC’s prior position limiting the tradeability of certain securities of shell companies, including those issued by us in any acquisition, reorganization or merger, and further limit the tradeability of additional securities of shell companies; these proposals will further restrict the availability of opportunities for us to acquire any business or enterprise that desire to utilize us as a means of going public. Any of these types of transactions, regardless of the particular prospect, would require us to issue a substantial number of shares of our common stock and result in substantial dilution to current shareholders.

ManagementOur management intends to consider a number of factors prior to making any decision as to whether to participate in any specific business endeavor, none of which may be determinative or provide any assurance of success. These may include, but will not be limited to, as applicable, an analysis of the quality of the particular business or entity’s management and personnel; the anticipated acceptability of any new products or marketing concepts that any such business or company may have; the merits of any such business’ or company’s technological changes; the present financial condition, projected growth potential and available technical, financial and managerial resources of any such business or company; working capital, history of operations and future prospects; the nature of present and expected competition; the quality and experience of any such business’ or company’s management services and the depth of management; the business’ or the company’s potential for further research, development or exploration; risk factors specifically related to the business’ or company’s operations; the potential for growth, expansion and profit of the business or company; the perceived public recognition or acceptance of the company’s or the business’ products,

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services, trademarks and name identification; and numerous other factors which are difficult, if not impossible, to properly or accurately quantify or analyze, let alone describe or identify, without referring to specific objective criteria of an identified business or company.

Regardless, the results of operations of any specific entity may not necessarily be indicative of what may occur in the future, by reason of changing market strategies, plant or product expansion, changes in product emphasis, future management personnel and changes in innumerable other factors. Further, in the case of a new business venture or one that is in a research and development mode, the risks will be substantial, and there will be no objective criteria to examine the effectiveness or the abilities of its management or its business objectives. Also, a firm market for its products or services may yet need to be established, and with no past track record, the profitability of any such entity will be unproven and cannot be predicted with any certainty.

ManagementOur management will attempt to meet personally with management and key personnel of any entity providing any potential business opportunity afforded to us, visit and inspect material facilities, obtain independent analysis or verification of information provided and gathered, check references of management and key personnel and conduct other reasonably prudent measures calculated to ensure a reasonably thorough review of any particular business opportunity; however, due to time constraints of management, these activities may be limited.

We are unable to predict the time as to when and if we may actually participate in any specific business endeavor. We anticipate that proposed business ventures will be made available to us through personal contacts of directors, executive officers and principal stockholders, professional advisors, broker dealers in securities, venture capital personnel and others who may present unsolicited proposals. In certain cases, we may agree to pay a finder’s fee or to otherwise compensate the persons who submit a potential business endeavor in which we eventually participate. Such persons may include our directors, executive officers and beneficial owners of our securities or their affiliates. In this event, such fees may become a factor in negotiations regarding any potential venture and, accordingly, may present a conflict of interest for such individuals.  Management does not presently intend to acquire or merge with any business enterprise in which any member has a prior ownership interest.

Although we currently have no plans to do so, depending on the nature and extent of services rendered, we may compensate members of management in the future for services that they may perform for us. Because we currently have extremely limited resources, and we are unlikely to have any significant resources until we have determined a business or enterprise to engage in or have completed a reorganization, merger or acquisition, management expects that any such compensation would take the form of an issuance of shares of our common stock to these persons; this would have the effect of further diluting the holdings of our other stockholders. There are presently no preliminary agreements or understandings between us and members of our management respecting such compensation. Any shares issued to members of our management would be required to be resold under an effective registration statement filed with the SEC or 12 months after we file the “Form 10 Information” about the acquired company with the SEC as now required by Form 8-K. These provisions could further inhibit our ability to complete the acquisition of any business or complete any merger or reorganization with another entity, where finders or others who may be subject to these resale limitations refuse to provide us with any introductions or to close any such transactions unless they are paid requested fees in cash or unless we agree to file a registration statement with the SEC that includes any shares that are to be issued to them, at no cost to them. These expenses could limit potential acquisition candidates, especially those in need of cash resources, and could affect the number of shares that our stockholders retain following any such transaction, by reason of the increased expense.

Substantial fees are also often paid in connection with the completion of all types of acquisitions, reorganizations or mergers, ranging from a small amount to hundreds of thousands of dollars or more. These fees are usually divided among consultants, brokers and selling shareholders, after deduction of legal, accounting and other related expenses, and it is not unusual for a portion of these fees to be paid to members of management or to principal stockholders as consideration for their agreement to retire a portion of their shares of our common stock that are owned by them or to provide an indemnification for all of our prior liabilities. Management may actively negotiate or otherwise consent to the purchase of all or any portion of their shares of common stock as a condition to, or in connection with, a proposed reorganization, merger or acquisition. It is not anticipated that any such opportunity will be afforded to other stockholders or that such other stockholders will be afforded the opportunity to approve or consent to any particular stock buy-out transaction. In the event that any such fees are paid or shares are purchased, these requirements may become a factor in negotiations regarding any potential acquisition or merger by us and, accordingly, may also present a conflict of interest for such individuals. We have no definitive arrangements or understandings respecting any of these types of fees or opportunities. Any of these types of fees that are paid in shares of our common stock will also be subject to the resale limitations embodied in the recent amendments to Rule 144.

Our directors and executive officers are evaluating potential merger targets, but as of the date of this report no definitive plans for a merger are in force.

Principal Products or Services and Their Markets

None; not applicable.None.

Distribution Methods of the Products or Services

None; not applicable.None.

Status of any Publicly Announced New Product or Service

None; not applicable.None.

Competitive Business Conditions and Small or Reporting Company’s Competitive Position in the Industry and Methods of Competition

ManagementOur management believes that there are literally thousandsa large number of shell companies engaged in endeavors similar to those engaged in by us; many of these companies have substantial current assets and cash reserves. Competitors also include thousands of other publicly-held companies whose business operations have proven unsuccessful, and whose only viable business opportunity is that of providing a publicly-held vehicle through which a private entity may have access to the public capital markets via a reverse reorganization or merger. There is no reasonable way to assess and predict our competitive position or that of any other entity in these endeavors; however, we, having limited assets and no cash reserves, will no doubt be at a competitive disadvantage in competing with entities that have significant cash resources and have recent operating histories.

Sources and Availability of Raw Materials and Names of Principal Suppliers

None; not applicable.None.

Dependence on One or a Few Major Customers

None; not applicable.None.

Patents, Trademarks, Licenses, Franchises, Concessions, Royalty Agreements or Labor Contracts, including Duration

None; not applicable.None.

Need for any Governmental Approval of Principal Products or Services

BecauseSince we currently have no business operations and produce no products nor provide any services, we are not presently subject to any governmental regulation in this regard. However, in the event that we complete a reorganization, merger or acquisition transaction with an entity that is engaged in business operations or provides products or services, we will become subject to all governmental approval requirements to which the reorganized, merged or acquired entity is subject or may become subject.

Effect of Existing or Probable Governmental Regulations on the Business

Emerging Growth Company

We may be deemed to be an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012, or “JOBS Act.” As long as we remain an emerging growth company, we may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not “emerging growth companies,” including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act; reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements; and exemptions from the requirements of holding an annual nonbinding advisory vote on executive compensation and seeking nonbinding stockholder approval of any golden parachute payments not previously approved. We may take advantage of these reporting exemptions until we are no longer an “emerging growth company.”

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Under the JOBS Act, emerging growth companies can also delay adopting new or revised accounting standards until such time as those standards apply to private companies. We have irrevocably elected not to avail ourselves of this exemption from new or revised accounting standards and, therefore, will be subject to the same new or revised accounting standards as other public companies that are not emerging growth companies.

We will remain an “emerging growth company” for up to five years, although we would cease to be an “emerging growth company” prior to such time if we have more than $1 billion in annual revenue, more than $700 million in market value of our common stock is held by non-“”affiliates” or we issue more than $1 billion of non-convertible debt over a three-year period.

Smaller Reporting Company

We are subject to the reporting requirements of Section 13 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and we are subject to the disclosure requirements of Regulation S-K of the SEC, as a “smaller reporting company.” That designation will relieve us of some of the informational requirements of Regulation S-K.

Sarbanes-Oxley Act

We are also subject to the Sarbanes-Oxley Act of 2002. The Sarbanes-Oxley Act created a strong and independent accounting oversight board to oversee the conduct of auditors of public companies and strengthens auditor independence. It also requires steps to enhance the direct responsibility of senior members of management for financial reporting and for the quality of financial disclosures made by public companies; establishes clear statutory rules to limit, and to expose to public view, possible conflicts of interest affecting securities analysts; creates guidelines for audit committee members’ appointment, compensation and oversight of the work of public companies’ auditors; management assessment of our internal controls; prohibits certain insider trading during pension fund blackout periods; requires companies and auditors to evaluate internal controls and procedures; and establishes a federal crime of securities fraud, among other provisions. Compliance with the requirements of the Sarbanes-Oxley Act will substantially increase our legal and accounting costs.

Exchange Act Reporting Requirements

Section 14(a) of the Exchange Act requires all companies with securities registered pursuant to Section 12(g) of the Exchange Act to comply with the rules and regulations of the SEC regarding proxy solicitations, as outlined in Regulation 14A. Matters submitted to our stockholders at a special or annual meeting thereof or pursuant to a written consent will require us to provide our stockholders with the information outlined in Schedules 14A or 14C of Regulation 14; preliminary copies of this information must be submitted to the SEC at least 10 days prior to the date that definitive copies of this information are forwarded to the our stockholders.

We are required to file annual reports on Form 10-K and quarterly reports on Form 10-Q with the Securities Exchange Commission on a regular basis, and are required to timely disclose certain material events (e.g., changes in corporate control; acquisitions or dispositions of a significant amount of assets other than in the ordinary course of business; and bankruptcy) in a Current Report on Form 8-K.

Research and Development Costs During the Last Two Fiscal Years

None; not applicable.None.

Cost and Effects of Compliance with Environmental Laws

We do not believe that our current or intended business operations are subject to any material environmental laws, rules or regulations that would have an adverse material effect on our business operations or financial condition or result in a material compliance cost; however, we will become subject to all such governmental requirements to which the reorganized, merged or acquired entity is subject or may become subject.

Number of Total Employees and Number of Full Time Employees

None.

PART II

ITEM 1A. RISK FACTORS

Not required forapplicable to a smaller reporting companies.company.

ITEM 2:1B. UNRESOLVED STAFF COMMENTS

Not applicable to a smaller reporting company.

ITEM 2. PROPERTIES

We

The Company uses office space at Suite 20.03, Plaza 138, Jalan Ampang, Kuala Lumpur, Malaysia, 50450.

ITEM 3. LEGAL PROCEEDINGS

There are no legal proceedings which are pending or have no assets, propertybeen threatened against us or business; our principal executive office address and telephone number are the business office address and telephone numberany of our President, Thomas Howells, and are currently provided at no cost. Because we have had no business, our activities have been limited to keeping itself in good standing in the Stateofficers, directors or control persons of Nevada and timely voluntarily filing our reports with the SEC. These activities have consumed an insignificant amount of management’s time; accordingly, the costs to Mr. Howells of providing the use of his office and telephone have been minimal.which management is aware.

ITEM 3:  LEGAL PROCEEDINGS

We are not a party to any pending legal proceeding. To the knowledge of our management, no federal, state or local governmental agency is presently contemplating any proceeding against us. No director, executive officer or affiliate of ours or owner of record or beneficially of more than 5% of our common stock is a party adverse to us or has a material interest adverse to us in any proceeding.

ITEM 4:4. MINE SAFETY DISCLOSURES

Not applicable.

PART II

ITEM 5:5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

Market Information

Concept Holding’sXenous Holdings, Inc.’s Common Stock is currently not quoted on any exchange or market.the OTC Pink Sheets under the symbol “XITO.”

Concept HoldingXenous Holdings, Inc. has previously issued shares of common stock that constitute restricted securities as that term is defined in Rule 144 adopted under the Securities Act. Subject to certain restrictions, such securities may generally be sold in limited amounts under Rule 144. Concept Holding currently has 6,683,000As of March 31, 2021, Xenous Holdings, Inc. had 760,250,000 shares of common stock issued and outstanding, except for 3,263,000, all of which were issued more than twelve yearsmonths ago. All of these shares would generally be available for resale. Currently, Rule 144 would not be available for 649,690,300 of those 3,263,000 shares issued in the last two years until at least one year after a merger with an operating company or the creation of business operations by the Company and the filing of an 8-K containing certain information required in a Form 10 filing. As such the timing of the availability of resale exemptions for these shares is unknown and currently they are not available for resale under Rule 144. When the shares potentially become available for resale, there could be a depressive effect onof any market that may develop for the Company’s common stock given the amount of shares that would be available for resale versus the number currently available.

There is currently no established trading market for shares of our common stock. Management does not expect any viable market to develop in our common stock unless and until we complete an acquisition or merger. In any event, no assurance can be given that any market for our common stock will develop or be maintained.

For any market that develops for our common stock, the sale of “restricted securities” (common stock) pursuant to Rule 144 of the SEC by members of management or any other person to whom any such securities may be issued in the future may have a substantial adverse impact on any such public market. For information regarding the requirements of resales under Rule 144, see the heading “Rule 144” below.

Holders

We currently have 258721 stockholders, not including an indeterminate number who may hold shares in “street name.”

Dividends

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Dividends

We have not declared any cash dividends with respect to our common stock, and do not intend to declare dividends in the foreseeable future. Our future dividend policy cannot be ascertained with any certainty, and if and until we complete any acquisition, reorganization or merger, no such policy will be formulated. There are no material restrictions limiting, or that are likely to limit, our ability to pay dividends on our securities.

Securities Authorized for Issuance under Equity Compensation Plans

None; not applicable.None.

Recent Sales of Unregistered Securities; Use of Proceeds from Registered Securities

Except as described herein, during the last three years, Concept Holding hasXenous did not soldsell shares of its common stock or preferred stock.  On December 16, 2014stock during the Company issued 3,263,000 shares of restricted common stock to Clearline Ventures, LLC, a Utah Limited Liability Corporation, controlled by Thomas Howells, our President and Director.  The shares were issued as restricted securities pursuant to an exemption under Rule 4(2) of the Securities Act of 1933, at par value of $0.001 per share for $3,263 of expenses paid on behalf of the Company. There were no sales of registered or unregistered securities for the three fiscal yearsyear ended March 31, 2016.2021, or subsequently through the date of this filing.

Use of Proceeds of Registered Securities

There were no proceeds received during the fiscal year ended March 31, 2016,2021 from the sale of registered securities.

Purchases of Equity Securities by Us and Affiliated Purchasers

None; not applicable.

None.

Other Stockholder Matters

None.

ITEM 6:6. SELECTED FINANCIAL DATA

Not required forapplicable to a smaller reporting companies.company.

ITEM 7:7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

When used in this Annual Report, the words “may,” “will,” “expect,” “anticipate,” “continue,” “estimate,” “project,” “intend,” and similar expressions are intended to identify forward-looking statements within the meaning of Section 27a of the Securities Act and Section 21e of the Exchange Act regarding events, conditions, and financial trends that may affect our future plans of operations, business strategy, operating results, and financial position. Persons reviewing this Annual Report are cautioned that any forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties and actual results may differ materially from those included within the forward-looking statements as a result of various factors. Such factors are discussed further below under “Trends and Uncertainties,” and also include general economic factors and conditions that may directly or indirectly impact our financial condition or results of operations.

Plan of Operation

Our plan of operation for the next 12 months is to: (i) consider guidelines of industries in which we may have an interest; (ii) adopt a business plan regarding engaging in the business of any selected industry; and (iii) to commence such operations through funding and/or the acquisition of a “going concern” engaged in any industry selected.

During the next 12 months, our only foreseeable cash requirements will relate to maintaining our good standing or the payment of expenses associated with legal fees, accounting fees and reviewing or investigating any potential business venture, which may be advanced by management or principal stockholders as loans to us. Because we have not determined any business or industry in which our operations will be commenced, and we have not identified any prospective venture as of the date of this Annual Report, it is impossible to predict the amount of any such loan. Any such loan will be on terms no less favorable to us than would be available from a commercial lender in an arm’s length transaction. No advance or loan from any affiliate will be required to be repaid as a condition to any agreement with future acquisition partners.

Results of Operations

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When and if a business will commence or an acquisition made is presently unknown and will depend upon various factors, including but not limited to funding and its availability and if and when any potential acquisition may become available to us at terms acceptable to us.  The estimated costs associated with reviewing and verifying information about a potential business venture would be mainly for due diligence and the legal process and could cost between $10,000 and $25,000.  These funds will either be required to be loaned by management or raised in private offerings; we cannot assure you that we can raise funds, if needed.

Liquidity and Capital Resources

OnYears Ended March 31, 2016, Concept Holding had $277 in assets2021 and $35,550 in liabilities compared to $5,020 in assets and $13,996 in liabilities at March 31, 2015.  Concept Holding has only incidental ongoing expenses primarily associated with maintaining its corporate status and filings with the Securities and Exchange Commission.  At this time, it is anticipated Concept Holding will have access to sufficient resources to pay ongoing expenses for the next year.  If the Company needs additional resources, Mr. Howells has indicated willingness to loan additional funds to the Company but Mr. Howells has limited resources and may not be able or willing to continue to loan or provide additional financing to the Company.  As Mr. Howells continues to investigate opportunities, he may experience additional expenses.  These additional expenses for consultants, attorneys and accountants could increase quickly.2020

We have limited cash on hand.  If additional funds are required, such funds may be advanced by management or stockholders as loans to us.  Duringhad no operations during the year ended March 31, 2016, expenses were paid through the issuance of promissory notes of $15,810.  During the same period in 2015, additional expenses by a principal stockholder totaled $7,690.  The aggregate amount of $23,500 outstanding2021 and 2020, nor do we have operations as of March 31, 2016, is unsecuredthe date of this filing. We had a net loss of $89,791 and $20,000 is due on February 23, 2017 and bears a 10% interest rate and $3,500 is due on January 20, 2018, bearing a 12% interest rate. As of March 31, 2016 there was an additional $6,500 available under the terms of the current notes.  Because we have not identified any acquisition or venture, it is impossible to predict the amount of any such future loans required.

Results of Operations

Other than maintaining our good corporate standing in the State of Nevada, paying and settling our debts and seeking the acquisition of assets, properties or businesses that may benefit us and our stockholders, we have had no material business operations in the two most recent calendar years.

During$63,919 for the year ended March 31, 2016,2021 and 2020, respectively. The increase was mainly attributable to the increase in professional fees incurred during the year ended March 31, 2021. Professional fees were $78,088 and $55,414 for the year ended March 31, 2021 and 2020, respectively.

Liquidity and Capital Resources

We had no assets as of March 31, 2021 and March 31, 2020.

As of March 31, 2021 and March 31, 2020, our total liabilities were $652,988 and 563,197, respectively.

Stockholders’ deficit was at $652,988 as of March 31, 2021 compared to deficit of $563,197 as of March 31, 2020.

As of March 31, 2021, we had a working capital deficit of $652,988 compared with a working capital deficit of $563,197 as of March 31, 2020. The increase in working capital deficit was primarily attributed to the increase in amount due to related party for advancement from the Company’s majority shareholder paying off vendors on behalf of the Company.

Cash Flow from Operating Activities

We have not generated any positive cash flow from operating activities.

For the year ended March 31, 2021, net cash flows used in operating activities was $84,165. The net cash used in operating activities for the year ended March 31, 2021 was attributed to a net loss of $26,297, resulting from operations.  During this same period ending$89,791, decreased by an increase in accounts payable and accrued liabilities of $5,626.

For the year ended March 31, 2015, we had2020, net cash flows used in operating activities was $59,649. The net cash used in operating activities for the year ended March 31, 2020 was attributed to a net loss of $9,613, also resulting$63,919, increased by a decrease in accounts payable and accrued liabilities of $2,730 and was offset by a decrease in prepaid expenses of $7,000.

Cash Flow from operations.  The increase in our net loss from March 31, 2015, to March 31, 2016, is due to audit fees and the filing of a registration statement, as amended, on Form 10 as well as accrued interest expense on the related party loan.  Financing Activities

We have received no revenues in either offinanced our two most recent fiscal years.  Seeoperations primarily from advances and loans from related parties.

For the Index to Financial Statements, Part II, Item 8, of this Annual Report.

Off-Balance Sheet Arrangements

We had no Off-Balance Sheet arrangements during the fiscal year ended March 31, 20162021 and March 31, 2020, net cash from financing activities was $84,165 and $59,649 from advancement from Smartex Investment Ltd., the majority shareholder of the Company, respectively.

Going Concern

Our independent auditors have added an explanatory paragraph to their audit issued in connection with the financial statements for the period ended March 31, 2021, relative to our ability to continue as a going concern. The Company, which has not generated any revenues, has incurred net losses, has nominal assets and a stockholders’ deficit. These conditions, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The Company’s continuation as a going concern is dependent on its ability to meet its obligations, to obtain additional financing as may be required and ultimately to attain profitability. The financial statements do not include any adjustments that might result from the outcome of this uncertainty

The Company is dependent on advances from its principal shareholders or 2015.other affiliated parties for continued funding. There are no commitments or guarantees from any third party to provide such funding nor is there any guarantee that the Company will be able to access the funding it requires to continue its operations.

Off-Balance Sheet Arrangements

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 is material to an investor in our securities.

ITEM 7A:7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not applicable.Pursuant to Item 305(e) of Regulation S-K (§ 229.305(e)), the Company is not required to provide the information required by this Item as it is a “smaller reporting company,” as defined by Rule 229.10(f)(1).

ITEM 8:8. FINANCIAL STATEMENTS ANDADD SUPPLEMENTARY DATA

CONCEPT HOLDING CORP.

INDEX TO FINANCIAL STATEMENTS

March 31, 2016

TABLE OF CONTENTS

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

The Board of Directors and ShareholdersStockholders of

Concept Holding Corp.Xenous Holdings, Inc.

Salt Lake City, UtahSuite 20.03, Plaza 138, Jalan Ampang,

Kuala Lumpur, Malaysia, 50450.

Opinion on the Financial Statements

We have audited the accompanying balance sheetsheets of Concept Holding Corp.Xenous Holdings, Inc. (the “Company”‘Company’) as of March 31, 2015,2021 and 2020, and the related statements of operations and comprehensive income, stockholders’ deficit,equity, and cash flows for the each of two years in the year then ended. ended of March 31, 2021 and 2020, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of March 31, 2021 and 2020, and the results of its operations and its cash flows for each of two years in the year ended March 31, 2021 and 2020, in conformity with accounting principles generally accepted in the United States of America.

Going Concern

The financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 3 to the financial statements, the Company’s losses from operations and no operation raise substantial doubt about its ability to continue as a going concern. Management’s plans regarding those matters also are described in Note 3. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Basis for Opinion

These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on thesethe Company’s financial statements based on our audit.audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our auditaudits in accordance with the standards of the Public Company Accounting Oversight Board (United States).PCAOB. Those standards require that we plan and perform anthe audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audit included considerationAs part of our audits we are required to obtain an understanding of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purposespurpose of expressing an opinion on the effectiveness of the Company’s internal controlscontrol over financial reporting. Accordingly, we express no such opinion. An audit also includes

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence supportingregarding the amounts and disclosures in the financial statements, assessingstatements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statement presentation.statements. We believe that our audit providesaudits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Concept Holding Corp. at March 31, 2015, and the results of its operations and cash flows for the year then ended, in conformity with accounting principles generally accepted in the United States of America.

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 23 to the financial statements, for the year ended March 31, 2021 the Company has incurred a loss from operations and negativenot established any source of revenue to cover its operating cash flows during the period from inception through March 31, 2015. These issues raisecosts. This condition raises substantial doubt about itsthe Company’s ability to continue as a going concern. Management’sManagement's plans in regard to these matters are also described in Note 2.3. The financial statements do not include any adjustmentadjustments that might result from the outcome of this uncertainty.

/s/ Mantyla McReynolds, LLCCritical Audit Matters

Mantyla McReynolds, LLC

Salt Lake City, UtahCritical audit matters are matters arising from the current period audit of the financial statements that were communicated or required to be communicated to those charged with governance and that: (1) relate to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective, or complex judgements. We determined that there are no critical matters.

September 10, 2015

XENOUS HOLDINGS, INC.

Balance Sheets

March 31, 2016 and 2015

SeeThe accompanying notes toare an integral part of these audited financial statements.

XENOUS HOLDINGS, INC.

Statements of Operations

For the Years Ended March 31, 2016 and 2015

SeeThe accompanying notes toare an integral part of these audited financial statements.

Statements of Stockholders'Changes in Stockholders’ Deficit

For the Years Endedyear ended March 31, 20162021 and 20152020

Statements of Cash Flows

For the Years Ended March 31, 2016 and 2015

 See

The accompanying notes toare an integral part of these audited financial statements.

CONCEPT HOLDING CORP.XENOUS HOLDINGS, INC.

Notes to the Audited Financial Statements

March 31, 2016 and 20152021

NOTE 1 -ORGANIZATION- NATURE OF BUSINESS AND SUMMARYCONTINUANCE OF SIGNIFICANT ACCOUNTING POLICIESOPERATIONS

Organization and Description of Business

Concept Holding Corp.Xenous Holdings, Inc. (the Company)“Company”) was incorporated on May 20, 1980 as Dayne Weiss and Associates, Inc. under the laws of the State of Utah.  The Company originally operated under the name of Dayne Weiss and Associates, Inc. and performed landscaping and yard care services until March 31, 1982 at which time the Company’s management decided to use the remaining assets to liquidate all remaining liabilities. Amended articles were filed with the State of Utah on December 22, 1982 which changed the Company’s name to Merrymack Corporation, reduced the par value of the shares to $0.001 per share, and increased the authorized shares to 50,000,000.

The Company issued 825,000 shares of its common stock to McGovern Investments Limited for a 50% interest in Tremus Industries Limited which was subsequently sold back to McGovern Investments Limited in December 1986 for a $104,400 loss.

On January 4, 1990, the Company acquired all of the outstanding stock of Concept Technologies, Inc. (CTI) which then became a wholly owned subsidiary of the Company for 372,750 shares of its common stock.   CTI was dissolved in January 1991 and the name of Company was changed to Concept Technologies, Inc.

The Company declared a 200% stock dividend on February 28, 1983 and a 1-for-10 reverse split on January 4, 1990.

On December 8, 2014 the Company Restated and Amended its Articles of Incorporation increasing it capitalization to 100,000,000 shares of capital stock with 10,000,000 shares of preferred stock and 90,000,000 shares of common stock, both with a par value of $0.001 per share.

On December 19, 2014, the Company completed a change of domicile merger with Concept Holding Corp., a Nevada corporation, which became the surviving entity.

On July 21, 2017, the Board of Directors of the Company elected to file Articles of Merger with the Nevada SOS whereby it would enter into a statutory merger with its wholly-owned subsidiary, M101 Corp., a Nevada corporation, pursuant to Nevada Revised Statutes 92A.200, et seq. The effect of such merger is the Company is the surviving entity and Concept Technologies,changed its name to “M101 Corp.” The merger took effect on August 14, 2017.

On November 2, 2019, a majority of shareholders approved a resolution to change the name of the Company to Xenous Holdings, Inc., a Utah corporation ceased. On November 19, 2019, the Company received notice that the Secretary of State of Nevada accepted the Company’s Certificate of Amendment to its Articles of Incorporation to change the name of the Company to Xenous Holdings, Inc. The Company currently has no business operations. (see Note 2:  Going Concern).

Significant Accounting Policies

A summary of the significant accounting policies consistently applied in the preparation of the accompanying financial statements are as follows:

a.

Accounting Method

The Company’s financial statements are prepared in conformity with accounting principles generally accepted in the United States of America.  The Company has elected a March 31 year-end.

CONCEPT HOLDING CORP.

Notes to the Financial Statements

March 31, 2016 and 2015

NOTE 12 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

b.Basis of Presentation

Basic

The financial statements and Diluted Income (Loss) Per Common Share

Basic and diluted net loss per common share hasrelated disclosures have been calculated by dividing the net loss for the year by the basic and diluted weighted average number of shares outstanding.  There were 0 and 155,320 common stock equivalents as of March 31, 2016 and 2015, respectively, relatedprepared pursuant to the convertible promissory notes which were subsequently amended to relinquish their convertible features. See Note 3. Those potentially dilutive common stock equivalents were excluded fromrules and regulations of the diluted loss per share calculation as they are no longer applicable as of March 31, 2016Securities and wouldExchange Commission (“SEC”). These financial statements have been antidilutive due toprepared using the net loss for March 31, 2015.accrual basis of accounting in accordance with Generally Accepted Accounting Principles (“GAAP”) of the United States.

c.Use of Estimates

Income Taxes

The Company applies the provisions of Financial Accounting Standards Board Accounting Standard Codification (“ASC”) 740 Income Taxes.  The Standard requires an asset and liability approach for financial accounting and reporting for income taxes, and the recognition of deferred tax assets and liabilities for the temporary differences between the financial reporting basis and tax basis of the Company’s assets and liabilities at enacted tax rates expected to be in effect when such amounts are realized or settled. Due to a loss from inception, the Company has no tax liability. At this time the Company has no deferred taxes arising from temporary differences between income for financial reporting and income tax purposes as a valuation allowance has been established as realization of such deferred tax assets has not met the more likely-than-not threshold requirement.

The Company classifies tax-related penalties and net interest on income taxes as income tax expense. As of March 31, 2016 and 2015, income tax penalties and interest of $0 and $0 were incurred.

d.

Use of Estimates

The preparation ofprepares its financial statements in conformity with U.S. generally accepted accounting principles requires“GAAP,” which require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

e.Fair Value of Financial Instruments

Cash

ASC 820 “Fair Value Measurements and Cash EquivalentsDisclosures” establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market.

These tiers include:

Level 1: defined as observable inputs such as quoted prices in active markets;

Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and

Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

The Company considers all highly liquid investments with originalCompany’s financial instruments consist primarily of accounts payable and debts. The carrying amounts of such financial instruments approximate their respective estimated fair value due to the short-term maturities and approximate market interest rates of three months or less to be cash equivalents.these instruments.

f.Basic and Diluted Earnings Per Share

Concentration of Credit Risk

The Company has no significant off-balance-sheet concentrationsadopted ASC Topic 260, ”Earnings per Share,”(“EPS”) which requires presentation of credit risk such as foreign exchange contracts, options contracts or other foreign hedging arrangements. Thebasic EPS on the face of the income statement for all entities with complex capital structures and requires a reconciliation of the numerator and denominator of the basic EPS computation. In the accompanying financial statements, basic earnings (loss) per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period.

As of March 31, 2021 and 2020, the Company did not generate revenues from operations duringhave any potentially dilutive securities.

Related Parties

We follow ASC 850, “Related Party Disclosures,” for the years ended March 31, 2016 or 2015.identification of related parties and disclosure of related party transactions (see Note 4).

CONCEPT HOLDING CORP.

Notes to the Financial StatementsIncome Taxes

March 31, 2016 and 2015

NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

g.

Recent Accounting Pronouncement

The Company has reviewedaccounts for income taxes pursuant to FASB ASC 740 “Income Taxes”. Pursuant to ASC 740 deferred income taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences, and operating loss carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all recently issued, butof the deferred tax assets will not yet adopted, accounting standards in order to determine their effects,be realized. The provision for income taxes represents the tax expense for the period, if any, and the change during the period in deferred tax assets and liabilities. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on itsthe date of enactment.

ASC 740 also provides criteria for the recognition, measurement, presentation and disclosure of uncertain tax positions. Under ASC 740, the impact of an uncertain tax position on the income tax return may only be recognized at the largest amount that is more-likely-than-not to be sustained upon audit by the relevant taxing authority. At March 31, 2021, there were no unrecognized tax benefits. (see Note 6).

COVID-19

In early 2020, the World Health Organization declared the rapidly spreading coronavirus disease (COVID-19) outbreak a pandemic. This pandemic has resulted in governments worldwide enacting emergency measures to combat the spread of the virus. The Company considered the impact of COVID-19 on the assumptions and estimates used and determined that there were no material adverse impacts on the Company’s results of operation,operations and financial position or cash flows.  Basedat March 31, 2021. The full extent of the future impacts of COVID-19 on that review,the Company’s operations is uncertain. A prolonged outbreak could have a material adverse impact on financial results and business operations of the Company believes thatin the following pronouncements may have a significant effect on its financial statements.

In May 2014, the FASB issued Accounting Standards Update No. 2014-09 (“ASU No. 2014-09”), which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in GAAP when it becomes effective. The new standard is effective for annual reporting periods beginning after December 15, 2017.  Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method.future. The Company is evaluatingnot aware of any specific event or circumstance that would require an update to its estimates or judgments or a revision of the carrying value of its assets or liabilities as of the date of issuance of this Quarterly Report on Form 10-K. These estimates may change, as new events occur and additional information is obtained.

Recently Issued Accounting Pronouncements

Management has considered all recent accounting pronouncements issued and believes that these recent pronouncements will not have a material effect that ASU 2014-09 will have on itsthe Company’s financial statements and related disclosures. statements.

NOTE 3 - GOING CONCERN

The Company has not yet selected a transition method nor has it determined the effect of the standard ongenerated any revenue since its ongoing financial reporting.

In August 2014, the FASB issued ASU No. 2014-15 Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern, which provides guidance on determining when and how to disclose going concern uncertainties in the financial statements. The new standard requires management to perform interim and annual assessments of an entity’s ability to continue as a going concern. The update is effective for annual periods ending after December 15, 2016, and interim periods thereafter. Early adoption is permitted. The impact on the Company’s financial statements of adopting ASU 2014-15 is currently being assessed by management.

The Company has evaluated all other recent accounting pronouncements and believes that none of them will have a significant effect on the Company’s financial statement.

NOTE 2 -   GOING CONCERN

The Company has suffered recurring lossesinception and has minimal assets.  Related parties have been infusing capital to fund the Company’s minimuman operating requirements. Management intends to continue using related party resources to keep the Company viable until it identifies operations or a merger candidate.  As shown in the accompanying financial statements, the Company incurred aloss and net loss of $26,297 during$89,791 for the year ended March 31, 20162021. As of March 31, 2021, the Company has accumulated deficit of $963,788, and negative working capital of $652,988. The Company’s continuation as ofa going concern is dependent on its ability to execute its operation plan to generate sufficient cash flows from operations to meet its obligations and/or obtaining additional financing from its shareholders or other sources, as may be required. There can be no assurance that date;the necessary debt or equity financing will be available or will be available on terms acceptable to the Company.

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern; however, the above conditions raise substantial doubt about the Company’s current and total liabilities exceeded its current and total assets by $35,273.ability to do so. The accompanying financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that might be necessarymay result should the Company be unable to continue as a going concern.

While we believe in the viability of our strategy to generate sufficient revenues in the future and in our ability to raise additional funds, there can be no assurances to that effect.

NOTE 4 - RELATED PARTY TRANSACTIONS

Due to Related Party

During year ended March 31, 2021 and 2020, Smartex Investment Ltd., the majority shareholder of the Company which is holding 82% of the Company’s common shares, advanced $84,165 and $59,649, respectively, to the Company for operating expenses. As of March 31, 2021 and March 31, 2020, total amount due to Smartex Investment Ltd. was $641,232 and $557,067, respectively. The loan is non-interest bearing and due on demand.

NOTE 5 – SHARE CAPITAL

Preferred Stock

The Company is authorized to issue 10,000,000 shares of preferred stock with a par value of $0.001 per share. As of March 31, 2021 and March 31, 2020, no preferred shares have been issued.

Common Stock

The Company is authorized to issue 10,000,000,000 shares of common stock with a par value of $0.001 per share.

There were no stock issuances during the year ended March 31, 2021 or 2020. As of March 31, 2021 and March 31, 2020, the Company had 760,250,000 shares of common stock issued and outstanding.

NOTE 6 – INCOME TAX

The Company provides for income taxes under ASC 740, “Income Taxes.” Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax basis of assets and liabilities and the tax rates in effect when these differences are expected to reverse. A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the Company will not realize tax assets through future operations.

The components of the Company’s deferred tax asset and reconciliation of income taxes computed at the statutory rate to the income tax amount recorded as of March 31, 2021 and 2020, are as follows:

As of March 31, 2016,2021, the Company had current liabilitiesapproximately $619,000 of $31,685the U.S. net operating losses (the “U.S. NOLs”), which begin to expire between 2034 and 2038. NOLs generated in excess of current assets.  The Company will require additional funding during the next twelve monthstax years prior to finance the growth of its current operations and achieve its strategic objectives.  Management cannot make any assurances that such financing will be secured, and as such, there is a risk that operations may be curtailed in future periods.  

CONCEPT HOLDING CORP.

Notes to the Financial Statements

March 31, 2016 and 2015

NOTE 3 – RELATED PARTY TRANSACTIONS

As of2018, can be carried forward for twenty years, whereas NOLs generated after March 31, 2016 and 20152018 can be carried forward indefinitely.

In accordance with Section 382 of the Company had notes payable to related parties with balancesU.S. Internal Revenue Code, the usage of $25,156 and $7,766, respectively. The balances owed to the related parties as of March 31, 2016 of $25,156 consists of $23,500 principal and $1,656 accrued interest.  One note for $10,000 of which $3,500 had been drawn down on as of March 31, 2016 bears interest of 12% and is due January 20, 2018.  Two additional notes totaling $20,000, each for $10,000 bear interest at 10% and are due February 23, 2017 and were convertible until amended on March 28, 2016 eliminating any convertible features.  The Company has no convertible notes outstanding.

NOTE 4– INCOME TAXES

The Company hasCompany’s net operating loss carryforwards for income tax reporting purposes of approximately $46,300 for the year ended March 31, 2016 and $21,657 for the year ended March 31, 2015 that may be usedcarry forwards is subject to offset against future taxable income through 2035.   No tax benefit has been reported in the financial statements because the Company believes there is aannual limitations following greater than 50% or greater change the carryforwards will expire unused.  Accordingly, the potential tax benefits of the loss carry-forwards are offset by a valuation allowance of the same amount.

The deferred tax assets as of March 31, 2016 and March 31, 2015 consisted of the following:

ownership changes. Tax expense consists of the minimum state tax paid to the State of Utah of $100 for the tax year ended March 31, 2016 and March 31, 2015.

The income tax provision differs from the amount of income tax determined by applying the blended U.S. federal income tax and Utah state tax rate of 37.30% to pretax income from continuing operationsreturns for the years ended March 31, 2016 and 2015 due2014 through 2021 are subject to review by the following:tax authorities.

The valuation allowance increased by $9,182 during year ended March 31, 2016 and $3,441 during year ended March 31, 2015.NOTE 7 – SUBSEQUENT EVENTS

CONCEPT HOLDING CORP.

Notes to the Financial Statements

March 31, 2016 and 2015

NOTE 4– INCOME TAXES (continued)

Uncertain Tax Positions

The CompanyManagement has evaluated its uncertain tax positions and determined that any required adjustments would not have a material impact onsubsequent events through the Company's balance sheet, income statement, or statement of cash flows. All years prior to 2013 are closed by expiration of the statute of limitations.   The years ended March 31, 2013, 2014, 2015 and 2016 are open for examination.

NOTE 5 – STOCK ISSUANCE

No stock was issued for the year ending March 31, 2016.  On December 16, 2014 the Company issued 3,263,000 shares of common stock to Clearline Ventures, LLC, a Utah Limited Liability Corporation, controlled by Thomas Howells, our President and Director.  The shares were issued at par value of $0.001 per share for $3,263 of expenses paid on behalf of the Company.

NOTE 6 – SUBSEQUENT EVENTS

For purposes ofdate these financial statements and all disclosures, subsequentwere issued. Based on our evaluation, no events were evaluated through as the date the financial statements were issued.have occurred that require disclosure.

ITEM 9:9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

On May 24, 2016 we filed a Current Report on Form 8-K announcing a change in auditors from Mantyla McReynolds, LLC to Heaton & Company, PLLC.  There were no disagreements between the Company and Mantyla McReynolds, PLLC.  See the Exhibit Index for reference to the 8-K as incorporated herein by reference.None.

ITEM 9A:9A. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

Our management, with the participation of our President (CEO)Chief Executive Officer and Secretary/Treasurer (acting CFO),Chief Financial Officer evaluated the effectiveness of our disclosure controls and procedures as of the end of the period covered by this Annual Report. Based on that evaluation, our PresidentChief Executive Officer and Secretary/TreasurerChief Financial Officer concluded that our disclosure controls and procedures as of the end of the period covered by the Annual Report were not effective due to having a sole officer and director, suchin providing reasonable assurance that the information required to be disclosed by us in reports filed under the Exchange Act is (i) recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms and (ii) accumulated and communicated to our management, including our President and Secretary/Treasurer, as appropriate to allow timely decisions regarding disclosure. A controls system cannot provide absolute assurance, however, that the objectives of the controls system are met, and no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within a company have been detected.

Management’s Annual Report on Internal Control over Financial Reporting

Our management is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act). Our internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes of accounting principles generally accepted in the United States.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Therefore, even those systems determined to be effective can provide only reasonable assurance of achieving their control objectives.

Our management, consisting of our sole officerofficers and director,directors, evaluated the effectiveness of our internal control over financial reporting as of March 31, 2016.2021. In making this assessment, our management used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”) in Internal Control – Integrated Framework (2013). Based on this evaluation, our management, with the participation of the President and Secretary/Treasurer, concluded that, as of March 31, 2016,2021, our internal control over financial reporting was not effective due to having a sole officer and director.effective.

This Annual Report does not include an attestation report of our registered public accounting firm regarding internal control over financial reporting. Management’s report was not subject to attestation by our registered public accounting firm pursuant to the rules of the Security and Exchange Commission that permit us to provide only management’s report in this Annual Report.

Changes in Internal Control over Financial Reporting

There have been no changes in internal control over financial reporting.

ITEM 9B:9B. OTHER INFORMATION

None.

PART III

ITEM 10:10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

Identification of Directors and Executive Officers

OurSet forth below is the name of directors and executive officers and directors and their respective ages, positions and biographical information are set forth below.as of June 28, 2021:

23

BackgroundMr. Tham Soon Hua serves as our Chief Executive Officer and Business Experience

Thomas J. Howells - Mr. Howells is 44Director. Dr. Hua has more than 20 years of age. He graduatedexperience in sales and marketing industry. Prior to joining us in October 2019, Mr. Tham worked for Apex Mining Sdn. Bhd. as managing director since August 1997. From March 1995 to June 1996, Mr. Tham worked for Great Eastern Holdings Limited in Singapore as a corporate marketing manager. From June 1993 to February 1995, Mr. Tham worked for AIA Group Limited in Hong Kong as a corporate marketing manager. From January 1989 to May 1993, Mr. Tham worked for NZ Expertelligence Palmerston North as a consultant. From January 1982 to April 1989, Mr. Tham was a practice company secretarial & business advisory at Ho & Co in Malaysia. From July 1975 to December 1981, Mr. Tham worked for AIA Group Limited in Malaysia as a management trainee. Mr. Tham obtained his doctor of philosophy degree in business administration from WestminsterCharisma University, Turks & Caicos Island and a higher diploma in commerce from Tunku Abdul Rahnam College in June 2017 and April 1978, respectively. Mr. Tham is a member of Salt Lake City, Utah,The Chartered Governance Institute (formerly known as The Institute of Chartered Secretaries & Administrators) in the United Kingdom since July 1982.

Mr. Ronald Paul Cartey serves as our company secretary and Director. Mr. Cartey has more than 20 years of experience in the business consulting and advisory industry. Prior to joining us in October 2019, Mr. Cartey worked for 3T Network Pte Ltd as the chief business development officer since February 2017. Since May 2010, Mr. Cartey worked for A.T. Group LLC as a business consultant of AT Group Asia. From August 1984 to May 2020, Mr. Cartey founded Advance Training Group Pty Ltd and worked as a corporate advisor. From May 1982 to July 1984, Mr. Cartey worked for New Image International Limited as the director of international business development. Between 1971 and 1982, Mr. Cartey worked for various international companies in Europe and held numerous positions, with his final position as managing director. Mr. Cartey completed his education with Dame Alice Owen’s School July 1970.

Mr. Shrikumar Vasant Mordekar serves as our chief financial officer and Director. Mr. Mordekar has more than 10 years of experience in information & communications technology industry including experience in public companies. Prior to joining us in October 2019, Mr. Mordekar worked for Ace Augment Limited as chief technical director from October 2018 to September 2019. From September 2013 to October 2018, Mr. Mordekar worked for Genband, Inc. as the Asia-Pacific regional director. From July 2009 to August 2013, Mr. Mordekar worked for Ventraq Corporation as the director for customer relations division. From May 2005 to July 2009, Mr. Mordekar worked for Acecomm Solutions Pte Ltd as the operations director. From March 2000 to May 2005, Mr. Mordekar worked for Intasys Corporation as was the software development manager. Mr. Mordekar obtained a Bachelor’sbachelor’s degree of engineering major in production branch from the University of Mumbai, India, in April 1996. Mr. Mordekar also obtained a master’s degree in business administration (MBA), a master’s degree in information technology, and a master’s degree in Business from Griffith University, Australia, in 1994April 1998, June 2000 and April 2007, respectively. Mr. Mordekar is a Mastermember of Business Administration in 2004. Mr. Howells has been an employee and the Secretary/Treasurer of Jenson Services, Inc. for the past 16 years, a consulting firm focusing primarily on general business consulting. Mr. Howells has served as an Officer and Director of a number of public companies and is currently President and a director of Dala Petroleum Corp., a Nevada corporation (OTCQB; DALP).  Mr. Howells was the President and CEO of LipidViro Tech, Inc. until it became NAC Global Technologies, Inc. (“NACG”) in June of 2014.  Mr. Howells was the former CEO and director of City Media, Inc. until October 2014.Australia Computer Society since May 1999.

Mr. Howells’ management of small operating businesses and his experience in the public arena make him a suitable candidate to organize the affairs of Concept Holding and seek out qualified candidates that would like to consolidate their operations with Concept Holding.  This past experience includes working with accountants and auditors on financial statements, and working with filing of SEC reports including annual and quarterly reports.

Significant Employees

We have no employees who are not executive officers, but who are expected to make a significant contribution to our business.

Family Relationships

The sole officer and directorAs of the date hereof, the Company has no family relationships to any other related parties.significant employees.

Involvement in Other Public CompaniesFamily Relationships

Mr. Howells is also the President and a director of Dala Petroleum Corp., a Nevada corporation (OTCQB: DALP) which holds oil leases in Kansas for oil exploration.None.

Involvement in Certain Legal Proceedings

DuringThere have been no events under any bankruptcy act, no criminal proceedings and no judgments, injunctions, orders or decrees material to the evaluation of the ability and integrity of any director, executive officer, promoter or control person of the Company during the past ten (10) years, none of our present or former directors, executive officers or persons nominated to become directors or executive officers (or those in similar positions with us) has been the subject of any of the following:five years.

(1) A petition under the federal bankruptcy laws or any state insolvency law was filed by or against, or a receiver, fiscal agent or similar officer was appointed by a court for the business or property of such person, or any partnership in which he was a general partner at or within two (2) years before the time of such filing, or any corporation or business association of which he was an executive officer at or within two (2) years before the time of such filing;Section 16(a) Beneficial Ownership Reporting Compliance

(2) Such person was convicted in a criminal proceeding or is a named subject of a pending criminal proceeding (excluding traffic violations and other minor offenses);

(3) Such person was the subject of any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining him or her from, or otherwise limiting, the following activities:

(i) Acting as a futures commission merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction merchant, any other person regulated by the Commodity Futures Trading Commission, or an associated person of any of the foregoing, or as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person, director or employee of any investment company, bank, savings and loan association or insurance company, or engaging in or continuing any conduct or practice in connection with such activity;

(ii) Engaging in any type of business practice; or

(iii) Engaging in any activity in connection with the purchase or sale of any security or commodity or in connection with any violation of Federal or State securities laws or Federal commodities laws;

(4) Such person was the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any Federal or State authority barring, suspending or otherwise limiting for more than sixty (60) days the right of such person to engage in any activity described in paragraph (f)(3)(i) of this section, or to be associated with persons engaged in any such activity;

24

(5) Such person was found by a court of competent jurisdiction in a civil action or by the SEC to have violated any federal or state securities law, and the judgment in such civil action or finding by the SEC has not been subsequently reversed, suspended, or vacated;

(6) Such person was found by a court of competent jurisdiction in a civil action or by the Commodity Futures Trading Commission to have violated any Federal commodities law, and the judgment in such civil action or finding by the Commodity Futures Trading Commission has not been subsequently reversed, suspended or vacated;

(7) Such person was the subject of, or a party to, any federal or state judicial or administrative order, judgment, decree, or finding, not subsequently reversed, suspended or vacated, relating to an alleged violation of:

(i) Any federal or state securities or commodities law or regulation; or

(ii) Any law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and-desist order, or removal or prohibition order; or

(iii) Any law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity; or

(8) Such person was the subject of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization (as defined in Section 3(a)(26) of the Exchange Act (15 U.S.C. 78c(a)(26))), any registered entity (as defined in Section 1(a)(29) of the Commodity Exchange Act (7 U.S.C. 1(a)(29))), or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated with a member.

Compliance with Section 16(a) of the Exchange Act

Our common stock is registered under the Exchange Act, requires officers and therefore, the officers, directors and holders of more than 10% of our outstanding shares are subject to the provisions of Section 16(a) which requires them to file with the SEC initial reports of ownership and reports of changes in ownership of common stock and our other equity securities.  Officers, directors, and greater than 10% beneficial ownersstockholders of companies with a class of securities registered under Section 12 of the Exchange Act, to file reports of ownership and changes in ownership of its securities with the Securities and Exchange Commission. Copies of the reports are required by SEC regulationsregulation to furnish us with copiesbe furnished to the Company. The Company is not aware of all Section 16(a) reports they file.any late filings of any such reports.

Code of Ethics

We have adopted a Code of Ethics for our principal executive and financial officers.  See Part IV, Item 15.

ITEM 11:11. EXECUTIVE COMPENSATION

All Compensation

No cash compensation, deferred compensation or long-term incentive plan awards were issued or granted to our management during the years ended March 31, 2016,2021 or 2015.2020. Furthermore, no member of our management has been granted any option or stock appreciation rights; accordingly, no tables relating to such items have been included within this Item.  Stock awards were valued using the closing bid price for the period in question as obtained from the OTCMG.  The following table sets forth the aggregate compensation paid by us for services rendered during the periods indicated:

SUMMARY COMPENSATION TABLE

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