U.S. UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form FORM 10-Q

Mark One

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

For the quarterly period ended NovemberJune 30, 20172023

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

For the transition period from ______ to _____________

Commission File No. file number 333-214075

MOVEIX INC

(Exact name of registrant as specified in its charter)

Nevada3790EIN 35-2567439
(State or Other Jurisdiction of Incorporation or Organization)(Primary Standard Industrial Classification Number)

(IRS Employer

Identification Number)

STRADA VERONICA MICLE 15 BL.17Nevada

SC A ET 1 ATP 6(State or other jurisdiction of incorporation)

SUCEAVA S5 720217

4031630433035-2567439

(IRS Employer Identification No.)

4800 N. Scottsdale Road, Suite 550Scottsdale, Arizona85251

503-536-0997

(Address and telephone number of principalregistrant’s executive offices)office)

Securities registered pursuant to Section 12(b) of the Act: None.

Indicate by checkmark whether the issuer: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No[  ] ☒   No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒   No ☐

Indicate by check mark whether the registrant is a large accelerated filed, an accelerated filer, a non-accelerated filer, or a smaller reporting company.

Large accelerated filer []Accelerated filer []
Non-accelerated filer []Smaller reporting company [X]
Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 

Indicate by checkmark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes[  ]   No [X]

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

N/A

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

Applicable Only to Corporate Registrants

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

The number of shares outstanding of the registrant’s common stock as of August 11, 2023 was 87,230,654 shares.

 

ClassOutstanding as November 30, 2017
Common Stock: $0.0016,220,000

 

 

 

MOVEIX INC.

TABLE OF CONTENTS

PART 1FINANCIAL INFORMATIONPage
Item 1PART IFinancial Statements (Unaudited)information1
Item 1Condensed Balance Sheets3Financial statements (unaudited)1
Item 2Condensed StatementsManagement’s discussion and analysis of Operationsfinancial condition and results of operations49
Item 3Condensed Statements of Cash Flows5Quantitative and qualitative disclosures about market risk12
Item 4Notes to condensed unaudited Financial Statements6Controls and procedures12
Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations10
Item 3.PART IIQuantitative and Qualitative Disclosures About Market Risk12Other Information13
Item 4.1Controls and ProceduresLegal proceedings13
PART II.Item 2OTHER INFORMATION14Unregistered sales of equity securities and use of proceeds13
Item 13Legal Proceedings14Defaults upon senior securities13
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds14
Item 3Defaults Upon Senior Securities14
Item 4Mine safety disclosures1413
Item 5Other Informationinformation1413
Item 6ExhibitsExhibits14
SignaturesSignatures15

 

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2

 

MOVEIX INC.PART I FINANCIAL INFORMATION

CONDENSED

ITEM 1 FINANCIAL STATEMENTS (UNAUDITED)

MOVEIX

BALANCE SHEETS

(Unaudited)

         
  June 30,  December 31, 
  2023  2022 
  (Unaudited)    
ASSETS        
Total Assets $-  $- 
         
LIABILITIES & STOCKHOLDERS’ DEFICIT        
Notes payable-related party  90,934   57,055 
Total current liabilities  90,934   57,055 
Total liabilities  90,934   57,055 
         
Commitments and Contingencies  -   - 
         
Stockholders’ Deficit        
Preferred stock, par value $0.001, 10,000,000 shares authorized, 10,000,000 issued and outstanding as of June 30, 2023 and December 31, 2022  10,000   10,000 
Common stock, par value $0.001, 200,000,000 shares authorized, 87,230,654 issued and outstanding as of June 30, 2023 and December 31, 2022  87,231   87,231 
Additional paid in capital  215,218   215,218 
Accumulated deficit  (403,383)  (369,504)
Total Stockholders’ (Deficit)  (90,934)  (57,055)
Total Liabilities and Stockholders’ $-  $- 

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

 

 

November 30, 2017

(unaudited)

  

May 31, 2017

 
ASSETS      
Current Assets        
Checking Account $14,271  $- 
Inventory  -   480 
Other current assets  -   918 
Total Current Assets  14,271   1,398 
         
Fixed Assets        
Website development and maintenance  5,600   - 
Total Fixed Assets  5,600   - 
         
Total Assets $19,871  $1,398 
         
LIABILITIES AND STOCKHOLDERS’ DEFICIT        
Liabilities        
Current Liabilities        
Loan from director  10,216   10,116 

Accounts Payable

  

800

     
         
Total Liabilities  11,016   10,116 
         
Stockholders’ Deficit        
Common stock, par value $0.001; 75,000,000 shares authorized, 6,220,000 and 4,000,000 shares issued and outstanding respectively:  6,220   4,000 
Additional paid-in Capital  19,980     
Accumulated deficit  (17,344)  (12,718)
Total Stockholders’ Deficit  8,856   (8,718)
         
Total Liabilities and Stockholders’ Deficit $19,871  $1,398 

1

See accompanying notes to the condensed financial statements.

3

 

MOVEIX INC.

CONDENSED STATEMENTS OF OPERATIONS

(Unaudited)

                 
  Three Months Ended
June 30,
2023
  Three Months Ended
June 30,
2022
  Six Months Ended
June 30,
2023
  Six Months Ended
June 30,
2022
 
Revenue $-  $-  $-  $- 
                 
Operating Expenses:                
Administrative expenses -related party  8,879   10,546   33,879   26,792 
Total operating expenses  8,879   10,546   33,879   26,792 
(Loss) from operations  (8,879)  (10,546)  (33,879)  (26,792)
Other expense                
Other (expense) net  -   -   -   - 
Income (loss) before provision for income taxes  (8,879)  (10,546)  (33,879)  (26,792)
Provision for income taxes  -   -   -   - 
Net (Loss) $(8,879) $(10,546) $(33,879) $(26,792)
                 
Basic and diluted earnings(loss) per common share $(0.00) $(0.00) $(0.00) $(0.07)
                 
Weighted average number of shares outstanding  87,230,654   87,230,654   87,230,654   (394,504)

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

 

  Three months
ended
November 30, 2017
(unaudited)
  Three months ended
November 30, 2016
(unaudited)
  Six months
ended
November 30, 2017
(unaudited)
  Six months
ended
November 30, 2016
(unaudited)
 
REVENUES                

Sales (Scooters)

 $-  $-  $3,000  $- 
COGS  -   -   1,398   - 
Gross Profit  -   -   1,602   - 
                 
General and Administrative Expenses  3,999   1,949   6,229   5,814 
OPERATING EXPENSES  3,999   1,949   6,229   5,814 
                 
TOTAL OPERATING EXPENSES  3,999   1,949   6,229   5,814 
                 
NET LOSS FROM OPERATIONS  (3,999)  (1,949)  (4,627)  (5,814)
                 
PROVISION FOR INCOME TAXES  -   -   -   - 
                 
NET LOSS $(3,999) $(1,949) $(4,627) $(5,814)
                 
NET LOSS PER SHARE: BASIC AND DILUTED $(0.00) $(0.00) $(0.00) $(0.00)
                 
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED  4,599,840   4,000,000   5,093,670   4,000,000 

2

See accompanying notes to the condensed financial statements.

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MOVEIX INC.

CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY
FOR THE SIX MONTHS ENDED JUNE 30, 2023 AND JUNE 30, 2022

(Unaudited)

                             
              Additional     Total 
  Preferred stock  Common Stock  Paid-in  Accumulated  Stockholders’ 
  Shares  Value  Shares  Value  Capital  Deficit  Deficit 
Balance, December 31, 2021  10,000,000  $10,000   87,230,654  $87,231  $215,218  $(329,763) $(17,314)
                             
Net loss      -        -    -    (16,246)  (16,246)
                             
Balance, March 31, 2022  10,000,000  $10,000   87,230,654  $87,231  $215,218  $(346,009) $(33,560)
                             
Net loss      -        -    -    (10,546)  (10,546)
                             
Balance, June 30, 2022  10,000,000  $10,000   87,230,654  $87,231  $215,218  $(356,555) $(44,106)

              Additional     Total 
  Preferred stock  Common Stock  Paid-in  Accumulated  Stockholders’ 
  Shares  Value  Shares  Value  Capital  Deficit  Deficit 
Balance, December 31, 2022  10,000,000  $10,000   87,230,654  $87,231  $215,218  $(369,504) $(57,055)
                             
Net loss      -        -    -    (25,000)  (25,000)
                             
Balance, March 31, 2023  10,000,000  $10,000   87,230,654  $87,231  $215,218  $(394,504) $(82,055)
                             
Net loss      -        -    -    (8,879)  (8,879)
                             
Balance, June 30, 2023  10,000,000  $10,000   87,230,654  $87,231  $215,218  $(403,383) $(90,934)

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

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MOVEIX

STATEMENTS OF CASH FLOWS

  

For the six
months
ended
November 30, 2017

(unaudited)

  

For the six
months

ended
November 30, 2016

(unaudited)

 
CASH FLOWS FROM OPERATING ACTIVITIES        
Net loss for the period $(4,627) $(5,814)
Changes in assets and liabilities:        
Expenses and deposits paid by officer for Subscription receivable  -   6,390 
Deposit for Inventory  1,398   (600)
Prepaid Expense  -   24 
Accounts Payable  

800

   - 
CASH FLOWS USED IN OPERATING ACTIVITIES $(2,429) $- 

 

CASH FLOWS FROM INVESTING ACTIVITIES

        
Website development and maintenance  5,600   - 
CASH FLOWS PROVIDED BY (USED IN) INVESTING ACTIVITIES $5,600  $- 

 

CASH FLOWS FROM FINANCING ACTIVITIES

        
Capital Stock  23,000   - 
Expenses paid on behalf of the Company  100   - 
Expenses paid on behalf of the Company – subscription receivable  -   - 
         
CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES $23,100  $- 
         

Net Cash Change for Period

 $14,271  $- 
Cash at beginning of period  -   - 
Cash at end of Period $14,271  $- 
         

SUPPLEMENTAL CASH FLOW INFORMATION:

        
Interest paid $-  $- 
Income taxes paid $-  $- 

(Unaudited)

See

         
  Six Months Ended  Six Months Ended 
  June 30,  June 30, 
  2023  2022 
Cash Flows From Operating Activities:      
Net loss $(33,879) $(26,792)
Net cash provided by (used for) operating activities  (33,879)  (26,792)
         
Cash Flows From Financing Activities:        
Proceeds from related party loans  33,879   26,792 
Net cash provided by financing activities  33,879   26,792 
         
Net Increase (Decrease) In Cash  -   - 
Cash At The Beginning Of The Period  -   - 
Cash At The End Of The Period $-  $- 

The accompanying notes to the condensedare an integral part of these unaudited financial statements.

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MOVEIX INC.

NOTES TO THE CONDENSEDUNAUDITED FINANCIAL STATEMENTS

NOVEMBER 30, 2017

NOTE 1 – Condensed Interim Financial StatementsORGANIZATION AND DESCRIPTION OF BUSINESS

Moveix Inc. (the “Company”(“the Company,” “we” “us”) was incorporated in the State of Nevada on May 5, 2016.

The Company was organized to buy the electric transportation products wholesale from Chinese manufacturers and sell these products via our website. The Company intended to concentrate its first year of operation in Europe, expanding our second year of operation to the North American market. Our main selling product will be the hoverboard. The two-wheeled self-balancing electric scooter is commonly referred to as a hoverboard, which is a type of portable, rechargeable battery-powered scooter. They typically consist of two wheels arranged side-by-side, with two small platforms between the wheels, on which the rider stands. The device is controlled by the rider’s feet, standing on the built-in gyroscopic and sensor pads. There is no universally accepted name for the device, as its various product names are attributable to the companies which distribute it and not its manufacturers. Also, the Company intended to resell electric bikes and Segways.

The Company’s fiscal year-end is December 31.

On December 31, 2020, as a result of a custodianship in Clark County, Nevada, Case Number: A-20-825360-B, Custodian Ventures LLC (“Custodian”) was appointed custodian of the Company.

On December 31, 2020, Custodian appointed David Lazar as the Company’s Chief Executive Officer, President, Secretary, Chief Financial Officer, Chief Executive Officer, and Chairman of the Board of Directors.

On July 2, 2021, as a result of a private transaction, (i) 81,010,654 shares of common stock, par value $.001 per share, and (ii) 10,000,000 shares of Series A Preferred Stock, $0.001 par value per share (the “Shares”) of the Company were transferred from Custodian Ventures, LLC to Cardone Ventures, LLC (the “Purchaser”). As a result, the Purchaser became an approximately 96.7% holder of the voting rights of the issued and outstanding share capital of the Company on a fully diluted basis of the Company and became the controlling shareholder. The consideration paid for the Shares was $250,000. The source of the cash consideration for the Shares was the personal funds of the Purchaser. In connection with the transaction, David Lazar released the Company from all debts owed to him and/or Custodian Ventures, LLC.

On July 2, 2021, the existing director and officer resigned immediately. Accordingly, David Lazar, serving as a director and an officer, ceased to be the Company’s Chief Executive Officer, Chief Financial Officer, President, Treasurer, Secretary, and a Director. At the effective date of the transfer, Brandon Dawson consented to act as the new Chief Executive Officer, Chief Financial Officer, President, Treasurer, Secretary, and a Director of the Company.

On January 7, 2022, the Board of Directors of the Company approved a change to its fiscal year-end from May 31 to December 31. The change in the start up stage and intends to resell various types of electric transportation. Electric transportation is a vehicle using electricity as a transportation fuel. Our products will include electric bikes, scooters, Segway, and hover boards sold to anybody around the world via our web site platform. Also we intend to sell wholesale. The company is located at STRADA VERONICA MICLE 15 BL.17 SC A ET 1 ATP 6 SUCEAVA S5 72021.

The accompanying unaudited condensed financial statements include the accounts of Moveix Inc. (the “Company”). These financial statements are condensed and, therefore, do not include all disclosures normally required by accounting principles generally accepted in the United States of America. Therefore, these statements should be read in conjunction with the most recent annual financial statements of Moveix Inc.fiscal year became effective for the Company’s 2021 fiscal year, which began June 1, 2021 and ended MayDecember 31, 2017. In particular,2021. Accordingly, the Company’s significant accounting principles were presented as Note 2 to the Financial Statements in that report. In the opinion of management, all adjustments necessary for a fair presentation have been included in the accompanying condensed consolidated financial statements and consist of only normal recurring adjustments. The results of operations presented in the accompanying condensed financial statements are not necessarily indicative of the results that may be expectedCompany transition report on Form 10-KT for the full year ending Mayseven months from June 1, 2021, through December 31, 2018.2021, within the time prescribed by the SEC.

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NOTE 2-2 – SUMMARY OF SIGNIFICANT AND CRITICAL ACCOUNTING POLICIES AND PRACTICES

Basis of Presentation

The accompanying financial statements of the Company have been prepared in accordance with generally acceptedthe Financial Accounting Standards Board (“FASB”) “FASB Accounting Standard Codification™” (the “Codification”) which is the source of authoritative accounting principles recognized by the FASB to be applied by nongovernmental entities in the United States of America (“US GAAP”) and are presented in US dollars.

Fiscal Year-End

The Company elected May 31 as its fiscal year ending date.

Use of Estimates and Assumptions

The preparation of financial statements in conformity with generally accepted accounting principles (“GAAP”) in the United States.

Going Concern

The accompanying financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business for the twelve months following the date of these financial statements. As of June 30, 2023, the Company had an accumulated deficit of $403,383, and no cash on hand.

Because the Company does not expect that existing operational cash flow will be sufficient to fund presently anticipated operations, this raises substantial doubt about the Company’s ability to continue as a going concern. Therefore, the Company will need to raise additional funds and is currently exploring alternative sources of financing. Historically, the Company raised capital through private placements, to finance working capital needs and may attempt to raise capital through the sale of common stock or other securities and obtaining some short-term loans. The Company will be required to continue to do so until its operations become profitable. Also, the Company has, in the past, paid for consulting services with its common stock to maximize working capital, and intends to continue this practice where feasible.

Management’s Representation of Interim Financial Statements

The accompanying unaudited condensed consolidated financial statements have been prepared by the Company without audit pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The Company uses the same accounting policies in preparing quarterly and annual financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) have been condensed or omitted as allowed by such rules and regulations, and management believes that the disclosures are adequate to make the information presented not misleading. These condensed consolidated financial statements include all of the adjustments, which in the opinion of management are necessary to a fair presentation of financial position and results of operations. All such adjustments are of a normal and recurring nature. Interim results are not necessarily indicative of results for a full year. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto on December 31, 2022, as presented in the Company’s Annual Report on Form 10-K filed on March 29, 2023, with the SEC.

Use of Estimates

The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statementsstatements. The most significant estimates relate to income taxes and contingencies. The Company bases its estimates on historical experience, known or expected trends, and various other assumptions that are believed to be reasonable given the reportedquality of information available as of the date of these financial statements. The results of these assumptions provide the basis for making estimates about the carrying amounts of revenuesassets and expenses during the reporting period.liabilities that are not readily apparent from other sources. Actual results could differ from thosethese estimates.

Fair Value Measurements

The Company adopted the provisions of ASC Topic 820, “Fair Value Measurements and Disclosures”, which defines fair value as used in numerous accounting pronouncements, establishes a framework for measuring fair value and expands disclosure of fair value measurements.

 

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The estimated fair value of certain financial instruments, including cashNOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Cash and cash equivalents are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments.

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

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

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

Level 3 — inputs that are unobservable (for example cash flow modeling inputs based on assumptions)

The Company has no assets or liabilities valued at fair value on a recurring basis.

Cash and Equivalents

The Company considers all highly liquid temporary cash investments purchased with an original maturity of three months or less to be cash equivalents. On June 30, 2023, and December 31, 2022, the Company’s cash equivalents totaled $-0- and $-0- respectively.

Income taxes

The Company had no cash equivalents as of November 30, 2017.

Stock-Based Compensation

Stock-based compensation is accountedaccounts for at fair value in accordance withincome taxes under FASB ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options.

Advertising

The Company will expense its advertising when incurred. There has been no advertising since inception.

Start-Up Costs

In accordance with ASC 720, “Start-up Costs”, the Company expenses all costs incurred in connection with the start-up and organization of the Company.

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Income Taxes

Income taxes are provided in accordance with ASC No. 740, Accounting for Income Taxes. A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carry-forwards. Deferred tax expense (benefit) results from the net change during the year ofTaxes”. Under FASB ASC 740, deferred tax assets and liabilities.

Deferredliabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of all of the deferredand liabilities and their respective tax assets will be realized.bases. Deferred tax assets and liabilities are adjustedmeasured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under FASB ASC 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. FASB ASC 740-10-05, “Accounting for Uncertainty in Income Taxes” prescribes a recognition threshold and a measurement attribute for the effectsfinancial statement recognition and measurement of changestax positions taken or expected to be taken in a tax laws and rates onreturn. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities.

The amount recognized is measured as the datelargest amount of enactment.

Earnings per Share

benefit that is greater than 50 percent likely of being realized upon ultimate settlement. The Company has adopted ASC No. 260, “Earnings Per Share” which specifiesassesses the computation, presentation and disclosure requirements for earnings (loss)validity of its conclusions regarding uncertain tax positions quarterly to determine if facts or circumstances have arisen that might cause it to change its judgment regarding the likelihood of a tax position’s sustainability under audit.

Net Loss per share for entities with publicly held common stock. Basic netShare

Net loss per common share amounts is computed by dividing the net loss by the weighted average common shares outstanding during the period as defined by Financial Accounting Standards, ASC Topic 260, “Earnings per Share.” Basic earnings per common share (“EPS”) calculations are determined by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per common share calculations are determined by dividing net income by the weighted average number of common shares outstanding. Diluted earnings perand dilutive common share are the same as basic earnings per share due to the lack of dilutive items in the Company.equivalents outstanding.

Recently IssuedRecent Accounting Pronouncements

The Company has evaluated all theThere are no recent accounting pronouncements and determined that there are no other accounting pronouncements that will have a material effect onimpact the Company’s financial statements.operations.

NOTE 3 – GOING CONCERNRELATED PARTY DEBT

The Company’s financial statements have been prepared assuming that it will continue as a going concern, which contemplates continuityAs of operations, realizationJune 30, 2023, and December 31, 2022, the balance of assets,related party loans was $90,934 and liquidation$57,055 respectively. Prior to the change of liabilitiescontrol on July 2, 2021, described in Footnote 1. “Organization and Description of the normal course of business.

As reflected inBusiness”, the financial statements,related party note loans were demand loans extended to the Company hadby Custodian Ventures on an accumulated deficit of $17,344 and negative working capital at November 30, 2017 and a net loss of $4,627 for the period then ended. These factors raise substantial doubt about the Company’s ability to continue as a going concern.

The Company is attempting to commence operations and generate sufficient revenue; however, the Company’s cash position may not be sufficient to support the Company’s daily operations. Management intends to raise additional funds by way of a private or public offering. While the Company believesinterest-free basis. When Custodian Ventures sold its controlling interest in the viability of its strategy to commence operations and generate sufficient revenue and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continueCardone Ventures, LLC, it forgave $14,188 in related party loans. The amount of interest-free related party demand loans of $90,934 as a going concern is dependent uponof June 30, 2023, has been extended to the Company’s ability to further implement its business plan and generate sufficient revenue and its ability to raise additional fundsCompany by way of a public or private offering.Cardone Ventures.

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The financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

NOTE 4 – LOAN FROM DIRECTOREQUITY

As of November 30, 2017, the Company owed $10,216 to the CEO and Director for expenses paid by him on behalf of the Company. The amounts are unsecured, non-interest bearing and due on demand.Common Stock

NOTE 5 – STOCKHOLDER’S EQUITY

The Company has 75,000,000, $0.001200,000,000 shares of $0.001 shares authorized. As of June 30, 2023, and December 31, 2022, the number of common shares issued and outstanding amounted to 87,230,654 and 87,230,654 shares, respectively.

Preferred Stock

The Company has 10,000,000 shares of $0.001 par value preferred stock authorized. As of June 30, 2023, and December 31, 2022, the number of Series A preferred shares issued and outstanding were 10,000,000 and 10,000,000 shares, respectively. The Series A Preferred stock has the following attributes:

Dividend Provisions

Subject to the rights of any existing series of Preferred Stock or to the rights of any series of Preferred Stock which may from time to time hereafter come into existence, the holders of shares of Series A Preferred Stock shall be entitled to receive dividends, out of any assets legally available therefor, upon any payment of any dividend (payable other than in Common Stock or other securities and rights convertible into or entitling the holder thereof to receive, directly or indirectly, additional shares of Common Stock of the Corporation) on the Common Stock of the Corporation, as and if declared by the Board of Directors, as if the Series A Preferred Stock had been converted into Common Stock

Redemption

The Series A Preferred Stock shares are nonredeemable other than upon the mutual agreement of the Company and the holder of shares to be redeemed, and even in such case only to the extent permitted by this Certificate of Designation, the Corporation’s Articles of Incorporation and applicable law.

Conversion Rights

Each share of Series A Preferred Stock is convertible into 10 shares of common stock authorized.

During the prior year, the Company issued 4,000,000 shares of common stock to the CEO and Director for a subscription receivable of $4,000 at $0.001 per share. During the three months ending November 30, 2016, the CEO and director paid for expenses and inventory deposits in satisfaction of the subscription receivable.NOTE 5 – COMMITMENTS AND CONTINGENCIES

In September and October the Company issued 2,220,000 shares of common stock to shareholders at $0.01 per share for a total price of $22,200.

As of November 30, 2017, the Company’s issued and outstanding shares were at 6,220,000.

NOTE 6 – REVENUE RECOGNITION

The Company applies paragraph 605-10-S99-1 of the FASB Accounting Standards Codification for revenue recognition. The Company recognizes revenue when it is realized or realizable and earned. The Company considers revenue realized or realizable and earned when all of the following criteria are met: (i) persuasive evidence of an arrangement exists, (ii) the product has been shipped or the services have been rendered to the customer, (iii) the sales price is fixed or determinable, and (iv) collectability is reasonably assured.

The Company derives its revenues from sales contracts with its customer with revenues being generated upon rendering of services. Persuasive evidence of an arrangement is demonstrated via invoice; service is considered provided when the service is delivered to the customers; and the sales price to the customer is fixed upon acceptance of the purchase order and there is did no separate sales rebate, discount, or volume incentive.

As of November 30, 2017, the Company has sold 3 Kids electric adult scooters for a total gross profit of $1,602.

NOTE 7 - INCOME TAXES

The reconciliation of income tax benefit at the U.S. statutory rate of 34% for the period from inception to November 30, 2017 to the Company’s effective tax rate is as follows:

  November 30, 2017  May 31, 2017 
Tax benefit at U.S. statutory rate $5,897  $4,324 
Change in valuation allowance  (5,897)  (4,324)
Tax benefit, net $-  $- 

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The tax effects of temporary differences that give rise to significant portions of the net deferred tax assets at November 30, 2017 are as follows:

Deferred tax assets November 30, 2017  May 31, 2017 
Net operating loss $1,360  $663 
Valuation allowance  (1,360)  (663)
Net deferred tax assets $-  $- 

The Company has approximately $17,344 of net operating losses (“NOL”) carried forward to offset taxable income, if any, in future years which begin to expire in fiscal 2036. In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Based on the assessment, management has established a full valuation allowance against all of the deferred tax asset relating to NOLs for every period because it is more likely than not that all of the deferred tax asset will not be realized.

NOTE 8 - COMMITMENT & CONTINGENCIES

The Company does not own or lease any real or personal property and does nott have any capital commitments.contractual commitments as of June 30, 2023, and December 31, 2022.

NOTE 96SUBSEQUENT EVENTS

The CompanyIn accordance with SFAS 165 (ASC 855-10) management has evaluatedperformed an evaluation of subsequent events through the date that thesethe financial statements were available to be issued.

issued and has determined that it does not have any material subsequent events to disclose in these financial statements.

 

FORWARD LOOKING STATEMENTS8

 

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

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

EmployeesCautionary Note Regarding Forward Looking Statements

This report contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding management’s future plans for the Company, our liquidity and Employment Agreements

At present, we have no employeesability to raise capital, our business strategy, and our future operations. All statements other than statements of historical facts contained in this report, including statements regarding our sole officerfuture financial position, liquidity, working capital sources, business strategy and director.plans, and objectives of management for future operations, are forward-looking statements. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We presently dohave based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs.

The results anticipated by any or all of these forward-looking statements might not have pension, health, annuity, insurance, stock options, profit sharingoccur. Important factors, uncertainties, and risks that may cause actual results to differ materially from these forward-looking statements include the ongoing impact of the coronavirus pandemic and its negative effect on the U.S. and global economies, and our lack of an operating history and revenue. Further information on the risk factors affecting our business is contained in “Risk Factors” of our annual report on Form 10-K for the fiscal year ended December 31, 2022. We undertake no obligation to publicly update or similar benefit plans; however, we may adopt such plansrevise any forward-looking statements, whether as the result of new information, future events, or otherwise.

Organizational History of the Company and Overview

The Company was organized to buy the electric transportation products wholesale from Chinese manufacturers and sell these products via our website. The Company intended to concentrate its first year of operation in Europe, expanding our second year of operation to the future.North American market. Our main selling product will be the hoverboard. The two-wheeled self-balancing electric scooter is commonly referred to as a hoverboard, which is a type of portable, rechargeable battery-powered scooter. They typically consist of two wheels arranged side-by-side, with two small platforms between the wheels, on which the rider stands. The device is controlled by the rider’s feet, standing on the built-in gyroscopic and sensor pads. There is no universally accepted name for the device, as its various product names are presently no personal benefits availableattributable to any officers, directors or employees.the companies which distribute it and not its manufacturers. Also, the Company intended to resell electric bikes and Segways.

On December 31, 2020, as a result of a custodianship in Clark County, Nevada, Case Number: A-20-825360-B, Custodian Ventures LLC (“Custodian”) was appointed custodian of the Company.

On December 31, 2020, Custodian appointed David Lazar as the Company’s Chief Executive Officer, President, Secretary, Chief Financial Officer, Chief Executive Officer, and Chairman of the Board of Directors.

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ResultsOn July 2, 2021, as a result of Operationa private transaction, (i) 81,010,654 shares of common stock, par value $.001 per share, and (ii) 10,000,000 shares of Series A Preferred Stock, $0.001 par value per share (the “Shares”) of the Company were transferred from Custodian Ventures, LLC to Cardone Ventures, LLC (the “Purchaser”). As a result, the Purchaser became an approximately 96.7% holder of the voting rights of the issued and outstanding share capital of the Company on a fully diluted basis of the Company and became the controlling shareholder. The consideration paid for the Shares was $250,000. The source of the cash consideration for the Shares was the personal funds of the Purchaser. In connection with the transaction, David Lazar released the Company from all debts owed to him and/or Custodian Ventures, LLC.

Our financial statementsOn July 2, 2021, the existing director and officer resigned immediately. Accordingly, David Lazar, serving as a director and an officer, ceased to be the Company’s Chief Executive Officer, Chief Financial Officer, President, Treasurer, Secretary, and a Director. At the effective date of the transfer, Brandon Dawson consented to act as the new Chief Executive Officer, Chief Financial Officer, President, Treasurer, Secretary, and a Director of the Company.

The evaluation and selection of a business opportunity is a complex and uncertain process, and we have been prepared assumingnot yet identified a target operating business for acquisition. Business opportunities that we believe are in the best interests of the Company and its shareholders may be scarce, or we may be unable to obtain the businesses we identify as viable for our objectives, including due to competitive forces in the marketplace beyond our control. There can be no assurance that we will continuebe able to locate compatible business opportunities for the Company. See –“Risk Factors” in our annual report on Form 10-K for the fiscal year ended December 31, 2022.

Plan of Operation

The Company has no operations from a continuing business other than expenditures related to running the Company as of the date of this Report. We are currently in the process of developing a going concernbusiness plan. Management intends to explore and accordingly, do not include adjustments relatingidentify viable business opportunities within the U.S. including seeking to acquire a business in a reverse merger. Our ability to effectively identify, develop and implement a viable plan for our business may be hindered by risks and uncertainties which are beyond our control, including without limitation, the continued negative effects of the coronavirus pandemic on the U.S. and global economies.

During the remainder of the fiscal year ending December 31, 2023, we anticipate incurring costs in connection with investigating, evaluating, and negotiating potential business combinations, filing SEC reports, and consummating an acquisition of an operating business.

Given our limited capital resources, we may consider a business combination with an entity that has recently commenced operations, is a developing company or is otherwise in need of additional funds for the development of new products or services or expansion into new markets, or is an established business experiencing financial or operating difficulties and is in need of additional capital. Alternatively, a business combination may involve the acquisition of, or a merger with, an entity that desires access to the recoverability and realization of assets and classification of liabilitiesU.S. capital markets.

Our management anticipates that might be necessary should we be unable to continue in operation.

We expect we will require additional capitallikely only be able to meeteffect one business combination due to our long term operating requirements. We expect to raise additional capital through, among other things,limited capital. This lack of diversification will likely pose a substantial risk in investing in the sale of equity or debt securities.

Three and Six Months Period Ended November 30, 2017 and 2016

Our net lossCompany for the three months periods ended November 30, 2017 and 2016 were $3,999 and $1,949 respectively. Duringindefinite future because it will not permit us to offset potential losses from one venture or operating territory against gains from another. The risks we face will likely be heightened to the three months period ended November 30, 2017 and 2016,extent we have not generated any revenue.

Our net loss for the six months periods ended November 30, 2017 and 2016 were $4,627 and $5,814 respectively. During the six months period ended November 30, 2017 we sold $3,000 worth of scooters that generated gross profit of $1,602; and during six months period ended November 30, 2016 we have not generated any revenue.

Liquidity and Capital Resources

Three Months Period Ended November 30, 2017

As of November 30, 2017, our total assets were $14,271 consisting of Cash and cash equivalents. As of November 30, 2017, our current liabilities were $11,016 owning to our director $10,216 and $800 to one shareholder for cancelled shares, and our stockholders’ deficit was $8,856.

Cash Flows from Operating Activities

For the six months periods ended November 30, 2017our net cash flows provided byacquire a business operating activities was $2,429. For the six months periods ended November 30, 2016our net cash flows provided by operating activities was $0.

Cash Flows from Investing Activities

We invested $5,600 to website development in the three months period ended November 30, 2017.a single industry or geographical region.

 

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We did not use or generate any cash flows from investing activitiesanticipate that the selection of a business combination will be a complex and risk-prone process. Because of general economic conditions, including unfavorable conditions caused by the coronavirus pandemic, rapid technological advances being made in the three months periods ended November 30, 2016.

Cash Flows from Financing Activities

We generated $22,300 in cash flows from financing activities for the six month period ended November 30, 2017 by meanssome industries, and shortages of issuing $22,200available capital, management believes that there are a number of common stock and $100 was loaned to the Company by our director to open bank account. We have not generated any cash flows from financing activities for the six months ended November 30, 2016.

Plan of Operation and Funding

firms seeking business opportunities at this time at discounted rates with which we will compete. We expect that any potentially available business combinations may appear in a variety of different industries or regions and at various stages of development, all of which will likely render the task of comparative investigation and analysis of such business opportunities extremely difficult and complicated.

Once we have developed and begun to implement our business plan, management intends to fund our working capital requirements will continue to be funded through a combination of our existing funds and furtherfuture issuances of debt or equity securities. Our working capital requirements are expected to increase in line with the growthimplementation of a business plan and commencement of operations.

Based on our business.

Existingcurrent operations, we do not have sufficient working capital further advances and debt instruments, and anticipated cash flow are expected to be adequate to fund our operations over the next three12 months. We have no linesIf we are able to close a reverse merger, it is likely we will need capital as a condition of credit or other bank financing arrangements. Generally, we have financed operations to date through the proceedsclosing that acquisition. Because of the private placementuncertainties, we cannot be certain as to how much capital we need to raise or the type of equity and debt instruments.securities we will be required to issue. In connection with our business plan, management anticipates additional increases in operating expenses and capital expenditures relating to: (i) acquisition of inventory; (ii) developmental expenses associated with a start-up business; and (iii) marketing expenses. We intend to finance these expenses with further issuances of securities, and debt issuances. Thereafter, we expectreverse merger, we will needbe required to raise additional capital and generate revenuesissue a controlling block of our securities to meet long-term operating requirements. the target’s shareholders which will be very dilutive.

Additional issuances of equity or convertible debt securities will result in dilution to our current shareholders. Further, such securities might have rights, preferences, or privileges senior to our common stock. Additional financing may not be available upon acceptable terms, or at all. If adequate funds are not available or are not available on acceptable terms, we may not be able to take advantage of prospective new business endeavors or opportunities, which could significantly and materially restrict our business operations. We

Our prospects must be considered in light of the risks, expenses, and difficulties frequently encountered by companies in their early stage of development. Such risks for us include but are not limited to, an evolving and unpredictable business model, recognition of revenue sources, and the management of growth. To address these risks, we must, among other things, develop, implement, and successfully execute our business and marketing strategy, respond to competitive developments, and attract, retain, and motivate qualified personnel. There can be no assurance that we will havebe successful in addressing such risks, and the failure to raise additional funds in the next twelve months in order to sustain and expand our operations. We currently do notso could have a specific planmaterial adverse effect on our business prospects, financial condition, and results of how we will obtain such funding; however, we anticipate that additional fundingoperations.

Liquidity and Capital Resources

We have $-0- cash on hand as of June 30, 2023, and will be in the form of equity financing from the sale of our common stock. We have and will continue to seek to obtain short-termdependent upon loans from our directors, although no future arrangement for additional loans has been made. We do not have any agreements with our directors concerning these loans. We do not have any arrangements in place for any future equity financing.new principal shareholder to remain operational.

 

Off-Balance Sheet Arrangements11

 

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

Going Concern

The independent auditors’ review report accompanying our May 31, 2017 financial statements contained an explanatory paragraph expressing substantial doubt about our ability to continue as a going concern. The financial statements have been prepared assuming that we will continue as a going concern, which contemplates that we will realize our assets and satisfy our liabilities and commitments in the ordinary course of business.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

No report required.Not applicable.

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ITEM 4. CONTROLS AND PROCEDURES

Our management is responsible for establishingEvaluation of Disclosure Controls and maintaining a system of disclosureProcedures.

We are required to maintain “disclosure controls and procedures (asprocedures” as such term is defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act) that is designed to ensure that information required to be disclosed by us in the reports that we file or submit under theSecurities Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer’s management, including its principal executive officer or officers and principal financial officer or officers, or persons performing similar functions,of 1934. Based on his evaluation as appropriate to allow timely decisions regarding required disclosure.

An evaluation was conducted under the supervision and with the participation of our management of the effectivenessend of the designperiod covered by this Quarterly Report on Form 10-Q, Mr. Brandon Dawson, who is presently serving as our Chief Executive Officer and operation of our disclosure controls and procedures as of November 30, 2017. Based on that evaluation, our managementChief Financial Officer has concluded that our disclosure controls and procedures were not effective as of such date to ensure that the information relating to our company, required to be disclosed in theour SEC reports that we file or submit under the Exchange Act,(i) is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms. Such officer also confirmed that there wasforms, and (ii) is accumulated and communicated to our management, including our Chief Executive Officer, to allow timely decisions regarding required disclosure as a result of material weaknesses in our internal control over financial reporting. Our disclosure controls and procedures were not effective as of June 30, 2023.

Changes in Internal Controls over Financial Reporting

There have been no changechanges in ourthe Company’s internal control over financial reporting during the three-month period ended November 30, 2017six months covered by this report that hashave materially affected or isare reasonably likely to materially affect, ourthe Company’s internal control over financial reporting. Our internal controls over financial reporting were not effective as of June 30, 2023.

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PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

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

ITEM 1A. RISK FACTORS

Not applicable.

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

No report required.Not applicable.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

No report required.None.

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5. OTHER INFORMATION

None.

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No report required.

ITEM 6. EXHIBITS

Exhibits:

31.1Exhibit NumberDescription
31.1Certification of Chief Executive Officer pursuant to Securities Exchange Act of 1934 Rule 13a-14(a) or /15d-14(a)., as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2
32.1CertificationsCertification of Chief Financial Officer pursuant to Securities Exchange Act Rule 13a-14(a)/15d-14(a), as adopted pursuant to Section 302 of 1934 Rule 13a-14(b) or 15d-14(b)the Sarbanes-Oxley Act of 2002
32.1Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes- OxleySarbanes-Oxley Act of 2002.2002
101.INSInline XBRL Instance Document.
101.SCHInline XBRL Taxonomy Extension Schema Document.
101.CALInline XBRL Taxonomy Extension Calculation Linkbase Document.
101.DEFInline XBRL Taxonomy Extension Definition Linkbase Document.
101.LABInline XBRL Taxonomy Extension Label Linkbase Document.
101.PREInline XBRL Taxonomy Extension Presentation Linkbase Document.
104Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).

 

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SIGNATURES

In accordance with the requirements of the Securities Exchange Act of 1934, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Dated: January 19, 2017

Moveix Inc.MOVEIX INC.
August 11, 2023By:/s/ Alexandru CuriliucBrandon Dawson
Name:Alexandru CuriliucBrandon Dawson
Title:PresidentChief Executive Officer
(Principal Executive Officer)

 

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