UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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 OctoberJuly 31, 20172021

or

¨☐	TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from ______________ to ______________
	For the transition period from ______________ to ______________

Commission File Number 333-217387

CICLET HOLDINGS INC.

(Exact name of registrant as specified in its charter)

Nevada		N/A
(State or other jurisdiction of incorporation or organization)		(IRS Employer Identification No.)
Unit 907-A West Tower Philippine Stock Exchange Center Building, Exchange Road, Ortigas Center PasigB11 L12 Woodpecker Street Bougainvillea Village Agus Lapulapu City, Philippines 66015 CEBU
(Address of principal executive offices)
(Address of principal executive offices)Zip Code)		(Zip Code)

+ 632 631-4648 / +632 687-0111639054201506

(Registrant’s telephone number, including area code)

N/A

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

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

Securities registered pursuant to Section 12(g) of the Act: OTC Pink Sheet, Common Stock, 175,000,000 authorized, $0.00001 par value

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐     No ☒

Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐     No ☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 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. x☐ YES     ¨ NO☒ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	o☐		Accelerated filer	o☐
Non-accelerated filer	o	(Do not check if a smaller reporting company)☒	Smaller reporting company	x☒
			Emerging growth company	x☒

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 check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act) x☒ YES     ¨☐ NO

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY

PROCEEDINGSBANKRUPTCYPROCEEDINGS DURING THE PRECEDING FIVE YEARS

Check whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a court. ¨☐ YES     ¨☐ NO

APPLICABLE ONLY TO CORPORATE ISSUERS

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

12,193,75215,851,001 common shares issued and outstanding as of December 19, 201723, 2021

FORM 10-Q

TABLE OF CONTENTS

PART I - FINANCIAL INFORMATION
Item 1.	Financial Statements		43
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations		10
Item 3.	Quantitative and Qualitative Disclosures About Market Risk		1312
Item 4.	Controls and Procedures		1312
PART II - OTHER INFORMATION
Item 1.	Legal Proceedings		1413
Item 1A.	Risk Factors		1413
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds		1413
Item 3.	Defaults Upon Senior Securities		1413
Item 4.	Mine Safety Disclosures		1413
Item 5.	Other Information		1413
Item 6.	Exhibits		1514
SIGNATURES			1615

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PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

Our unaudited condensed interim financial statements for the nine monthsix-month period ended OctoberJuly 31, 20172021 form part of this quarterly report. They are stated in United States Dollars (US$) and are prepared in accordance with United States Generally Accepted Accounting Principles.

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CICLET HOLDINGS INC.

BALANCE SHEETS

(UNAUDITED)

Ciclet Holdings Inc.

Condensed Interim Balance Sheets

As of October 31, 2017

		October31, 2017				January 31, 2017
		(Unaudited)
ASSETS
Current Assets
Cash		$	4,136			$	503
Funds held in trust			4,943				11,310
Total Current Assets			9,079				11,813
TOTAL ASSETS			9,079				11,813
LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY
Current Liabilities
Accounts payable and accrued liabilities		$	10,131			$	-
Due to related party			2,907				999
Total Current Liabilities			13,038				999
Total Liabilities			13,038				999
STOCKHOLDERS’ (DEFICIT) EQUITY
Common Stock:175,000,000 shares authorized; 10,540,752 and 10,000,000 shares, respectively issued and outstanding with par value of $0.00001 each			105				100
Additional paid-in capital			23,139				19,900
Accumulated Deficit			(27,203	)			(9,186	)
Total Stockholder’s Deficit			(3,959	)			10,814
TOTAL LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY		$	9,079			$	11,813

(The accompanying notes are an integral part of thethese unaudited condensed financial statements)statements

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CICLET HOLDINGS INC.

STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(UNAUDITED)

Ciclet Holdings Inc.

Condensed Interim Statement of Operations For the three and nine month periods ended October 31, 2017 and 2016

(Unaudited)

		Three Months Ended				Nine Months Ended				Three Months Ended				Inception (June 30, 2016)
		October 31,				October 31,				October 31,				to October 31,
		2017				2017				2016				2016
OPERATING EXPENSES
Accounting and legal		$	3,215			$	15,822			$	3,165			$	5,505
Bank Charges			-				75				93				113
Consulting			-				-				1,800				1,800
Office			102				2,121				86				86
Total Operating Expenses			3,317				18,017				5,144				7,504
NET LOSS		$	(3,317	)		$	(18,017	)		$	(5,144	)		$	(7,504	)
Basic and Diluted Loss per share		$	(0.00	)		$	(0.00	)		$	(0.00	)		$	(0.00	)
Weighted average number of shares outstanding			10,355,688				10,165,269				10,000,000				10,000,000

(The accompanying notes are an integral part of thethese unaudited condensed financial statements)statements

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CICLET HOLDINGS INC.

STATEMENTS OF CHANGES IN STOCKHOLDERS’ DEFICIT

FOR THE SIX MONTHS ENDED JULY 31, 2021 AND 2020

(UNAUDITED)

Ciclet Holdings Inc.

Condensed Interim Statement of Cash Flows

(Unaudited)

		Nine months ended				Inception (June 30, 2016)
		October31,				to October 31,
		2017				2016
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss		$	(18,017	)		$	(7,504	)
Changes in operating assets and liabilities:
Prepaid expenses and deposits			-				(39	)
Accounts payable and accrued liabilities			10,130				1,035
Net cash used in operating activities			(7,887	)			(6,508	)
CASH FLOWS FROM INVESTING ACTIVITIES
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of common shares			3,245				20,000
Advances from related party			1,908				64
Net cash provided by financing activities			5,153				20,064
Net decrease in cash and cash equivalents			(2,734	)			13,556
Cash and cash equivalents - beginning of period			11,813				-
Cash and cash equivalents - end of period		$	9,079			$	13,556
Cash consists of:
Cash		$	4,136			$	13,556
Funds held in Trust			4,943				-
		$	9,079			$	13,556
Supplemental Cash Flow Disclosures
Cash paid for interest		$	-			$	-
Cash paid for income taxes		$	-			$	-

(The accompanying notes are an integral part of thethese unaudited condensed financial statements)statements

CICLET HOLDINGS INC.

STATEMENTS OF CASH FLOWS

(UNAUDITED)

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

CICLET HOLDINGS INC.

NOTES TO THE UNAUDITED CONDENSED FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED JULY 31, 2021

Ciclet Holdings Inc.

Notes to the Condensed Interim Financial Statements

(Unaudited)

NOTE 1 – NATURE OF BUSINESS

Ciclet Holdings Inc. (the “Company”) is a start-up company with a primary focus on developing software applications for location-based service (LBS) that uses location data to control features. The Company was incorporated in the State of Nevada on June 30, 2016. The Company’s operational office is in the Philippines.

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying unaudited condensed interim financial statements are condensed and have been prepared by management without audit pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles 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 unaudited condensedfor interim financial statements include allinformation and in accordance with the instructions to Form 10-Q and Article 8 of the adjustments, which, inRegulation S-X. In the opinion of management, areall adjustments (consisting of normal recurring adjustments) considered necessary tofor a fair presentation of financial position and result of operations. As such, all adjustments are of a normal and recurring nature. Interimhave been included. Operating results for the six months ended July 31, 2021 are not necessarily indicative of the results that may be expected for a full year. Thethe year ending January 31, 2022. Notes to the unaudited condensed interim financial statement information including footnotes as of October 31, 2017 was derived from andstatements that would substantially duplicate the disclosures contained in the audited financial statements for fiscal year 2021 have been omitted. This report should be read in conjunction with the Company’s audited financial statements and the footnotes thereto for the fiscal year ended January 31, 2017.2021 included in the Company’s Form 10-K as filed with the Securities and Exchange Commission on October 21, 2021.

The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and have been consistently applied in the preparation of the condensed interim financial statements for the nine months ended October 31, 2017 and the audited financial statements for the year ended January 31, 2017.

Use of Estimates

The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reported period. Actual results could differ from those estimates.

Cash

Cash comprises cash balances, cash on current accounts with banks, and bank deposits. As of OctoberJuly 31, 2017,2021 and January 31, 2021, the Company has $4,136$3,642 and $3,767, respectively, in cash. The cash accounts are held in Philippine Pesos, and foreign exchange translationtransaction gain (loss) resulting from fluctuations in the currency exchange rate between U.S. dollar and Philippine Pesos has been recorded ,in the statements of operations. Translation gain (loss) is reported as a component of other accumulated comprehensive income, which is an insignificant amount as of October 31, 2017.was nil during the periods presented.

Funds held in trust comprise funds held in a trust account by the Company’s legal counsel. As of October 31, 2017, the Company has $4,943 in funds held in trust, which are also considered cash equivalent.Related Parties

The Company follows ASC 850, “Related Party Disclosures,” for the identification of related parties and disclosure of related party transactions (see Note 5).

Basic and Diluted Income (Loss) Per Share

The Company computes income (loss) per share in accordance with FASB ASC 260, “Earnings per Share”Share,” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive.

No potentially dilutive debt or equity instruments were issued or outstanding during at Octoberthe periods ended July 31, 2017.2021 and July 31, 2020.

Software Development CostsDeveloped for Internal Use

CapitalizationIn accordance with ASC 350-40 “Internal Use Software”, costs incurred during the preliminary project stage and post-implementation and operation stage should be expensed; whereas, costs incurred during the application development stage can be capitalized or expensed depends on the cost nature. The costs that should be capitalized during the application development stage include external direct cost of certainmaterials and services consumed in developing internal use computer software, payroll-related costs and interest costs while developing internal-use computer software. The costs that are expensed as incurred during the application development stage include training costs, data conversion costs and general and administrative costs and overhead costs. No software development costs are recorded after the determination of technological feasibility, in accordance with FASB ASC 985, “Software”. Based on our product development process, technological feasibility is determined upon the completion of a working model. No software development costsfor internal use have been incurred up to OctoberJuly 31, 2017.

Financial Instruments

The Company’s financial instruments consist of cash, accounts payable and accrued liabilities and due to shareholder. The carrying amount of such approximate their fair value due to the short maturity of the instrument.

Fair Value Measurement

ASC Topic 820, “Fair Value Measurements and Disclosures,” requires disclosure of the fair value of financial instruments held by the Company. ASC topic 825, “Financial Instruments,” defines fair value, and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. The three levels of valuation hierarchy are defined as follows: Level 1 - inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets. Level 2 – to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 3 – inputs to the valuation methodology are unobservable and significant to the fair value measurement.

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Revenue Recognition

The Company recognizes revenue from its contracts with customers in accordance with ASC 606 – Revenue from Contracts with Customers. The Company recognizes revenues when satisfying the statementperformance obligation of operations when the following criteria are met: there is persuasive evidence of an arrangement exists;associated contract that reflects the price is fixed and determinable; delivery has occurred or services have been rendered, and collectability is reasonably assured. As of October 31, 2017, the Company did not recognize any revenue.

Income Taxes

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax ratesconsideration expected to be appliedreceived based on the terms of the contract.

Revenue related to taxable incomecontracts with customers is evaluated utilizing the following steps: (i) Identify the contract, or contracts, with a customer; (ii) Identify the performance obligations in the years in which those temporary differences are expectedcontract; (iii) Determine the transaction price; (iv) Allocate the transaction price to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in incomethe performance obligations in the periodcontract; (v) Recognize revenue when a different tax rate is enacted.

Pursuant to the provisions of ASC No. 740, Income Taxes, the Company provides valuation allowances for deferred tax assets for which it does not consider realization of such assets to be more likely than not. 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 historical taxable income generation, projected future taxable income, the reversal of existing deferred tax liabilities and tax planning strategies in making this assessment. satisfies a performance obligation.

The corporateCompany has not recognized any revenue since its inception.

Recent Accounting Pronouncements

In December 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (ASU 2019-12), which simplifies the accounting for income tax rate applicable totaxes. This guidance will be effective for entities for the company is from 15% to 35%. As of October 31, 2017, the Company had an accumulated Net Operating Loss (NOL) of $27,203 since inception to be carried forward into futurefiscal years, and will begin to expire in 2037 if not utilized. A full valuation allowance is established against all deferred tax assets relating to NOL carry forwards basedinterim periods within those fiscal years, beginning after December 15, 2020 on estimates of recoverability. Whilea prospective basis, with early adoption permitted. We adopted the Company has optimistic plans for its business, it is determined that such a valuation allowancenew standard effective February 1, 2021 and there was necessary givenno material impact on the uncertainty with respect to its ability to generate sufficient profits from its new business model.

Recent Accounting PronouncementsCompany’s financial statements.

In August 2015,2018, the FASB issued ASU No. 2015-04, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date. The amendment2018-15, Internal-Use Software (Subtopic 350-40)—Customer’s Accounting for Implementation Costs Incurred in this ASI defers thea Cloud Computing Arrangement That is a Service Contract (“ASU 2018-15”). ASU 2018-15 is effective date of ASI No. 2014-09 for all entities for one year. Public business entities, certain not-for-profit entities, and certain employee benefit plans should apply the guidance in ASU 2014-09 to annual reporting periods beginning after December 15, 2017, including interim reporting periods within2019 and early adoption is permitted. ASU 2018-15 aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that reporting period. Earlier application is permitted onlya service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal use software license), by requiring a customer in a cloud computing arrangement that is a service contract to capitalize certain implementation costs as of annual reporting periods beginning after December 31, 2016, including interim reporting periods within that reporting period.if the arrangement was an internal-use software project. The Company does not believe the adoptionimpact of this ASU will have a significant impactnew standard on the Company’s financial statements.statements is not material.

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In January 2016, the FASB issued ASU 2016-01, “Financial Instruments Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities,” which addresses the recognition, measurement, presentation and disclosure of financial assets and liabilities.Management has considered all recent accounting pronouncements issued. The ASU primarily affects the accounting for equity investments, financial liabilities under the fair value option and the presentation and disclosure requirements for financial instruments. In addition, the ASU clarifies the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. The ASU is effective for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company doesCompany’s management believes that these recent pronouncements will not believe the adoption of this ASU will have a significant impactmaterial effect on the Company’s financial statements.

NOTE 3 – GOING CONCERN

These unaudited condensed interim financial statements have been prepared on a going concern basis, which implies that the Company will continue to realize its assets and discharge its liabilities in the normal course of business. During the nine month period ending Octobersix months ended July 31, 2017,2021, the Company recognized no sales revenue and incurred a net loss of $18,017.$8,600. As of OctoberJuly 31, 2017,2021, the Company had an accumulated deficit of $27,203.$121,238. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholder, the ability to raise equity or debt financing, and the attainment of profitable operations from the Company’s future business. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These unaudited interim financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

NOTE 4 – COMMON STOCK

As at January 31, 2017, theThe Company’s authorized common stock consistedconsists of 10,000,000 issued common voting175,000,000 shares with a par value of $0.00001 each.

During the nine months ended October 31, 2017, the Company issued 540,752 common shares, for proceeds of $3,245.$0.00001.

As of OctoberJuly 31, 2017,2021 and January 31, 2021, the Company’s common stock issued and outstanding was 10,540,752.15,851,001 shares.

NOTE 5 – RELATED PARTY TRANSACTIONS

The amount due to related party consists of advances from its sole shareholder.the Company’s director. The amount isamounts are non-interest bearing, hashave no set repayment terms and isare not secured.

During the six months ended July 31, 2021 and 2020, the director of the Company advanced $15,400 and $0 to the Company, respectively. During the six months ended July 31, 2021 and 2020, the Company repaid to the director $0 and $1,003, respectively.

As of OctoberJuly 31, 2017,2021 and January 31, 20172021, the amount owing to the related party was $2,907$17,497 and $999,$2,097, respectively.

During the nine months ended October 31, 2017, the sole shareholder paid expenses on behalf of the company of $1,908.

NOTE 6 – SUBSEQUENT EVENTSRISKS AND UNCERTAINTIES

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 operations and financial position at July 31, 2021. The full extent of the future impacts of COVID-19 on the Company’s operations is uncertain. A prolonged outbreak could have a material adverse impact on financial results and business operations of the Company in the future. The Company is not 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 these financial statements. These estimates may change, as new events occur and additional information is obtained.

NOTE 7 – SUBSEQUENT EVENTS

In accordance with ASC 855-10, the Company has performed an evaluation ofanalyzed its operations subsequent events and did not find any through the period from November 1, 2017to July 31, 2021 to the date when these financial statements were availableissued and has determined that it does not have any material subsequent events to be issued. No material transactions were noted, other than those noted below.disclose in these financial statements.

Subsequent to October 31, 2017, the Company received $9,918 proceeds for the issuance of 1,653,000 common shares.

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

FORWARD LOOKING STATEMENTS

This quarterly report contains forward-looking statements. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.

Our unaudited financial statements are stated in United States Dollars (US$) and are prepared in accordance with United States Generally Accepted Accounting Principles. The following discussion should be read in conjunction with our financial statements and the related notes that appear elsewhere in this quarterly report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed below and elsewhere in this quarterly report.

Our financial statements are stated in United States Dollars (US$) and are prepared in accordance with United States Generally Accepted Accounting Principles.

In this quarterly report, unless otherwise specified, all dollar amounts are expressed in United States dollars and all references to “common shares” refer to the common shares in our capital stock.

As used in this quarterly report, the terms “we”, “us”, “our” and “our company” mean Ciclet Holdings Inc., unless otherwise indicated.

General Overview

We were incorporated on June 30, 2016 under the laws of the State of Nevada. Our registered statutory office is located at 723 S. Casino Centre Blvd., 2^nd Floor, Las Vegas, Nevada, 89101-6716, Tel: (702) 384-8727. Our fiscal year end is January 31. The Company’s operational office is in the Philippines.

The primary goal for our company is to allow consumers to find reliable and professional local services by using the location data of a person’s location through the use of a device that sends out the location of the person via their smart phone or tablet. We are a company focused on creating service driven apps and services for Location-based services (LBS) which are a general class of computer program-level services that use location data of a person’s location to control features. Our first market will be in the Philippines.

We are an early stageearly-stage company. To date, our activities have been limited to the sourcing of a software developer, advertising channels, initial branding efforts, and in our formation and the raising of equity capital.

We do not have any subsidiaries.

We have never declared bankruptcy, been in receivership, or involved in any kind of legal proceeding.

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Results of Operations

We have not earned any revenues from our inception on June 30, 2016 through OctoberJuly 31, 2017.2021.

Three months ended OctoberJuly 31, 20172021 compared to the three months ended OctoberJuly 31, 2016.2020

		Three months ended October 31, 2017				Three months ended October 31, 2016
Revenue		$	-			$	-
Operating expenses		$	3,317			$	5,144
Net loss		$	(3,317	)		$	(5,144	)

Our operating expenses,During the three months ended July 31, 2021, we had incurred a net loss of $4,786 compared to $7,987 for the three months ended OctoberJuly 31, 2017 were $3,317 compared to $5,144 for the period ended October 31, 2016.2020. The decrease in operating expensesnet loss was primarily asdue to a result of additional legal and accounting fees incurred for the threedecrease in professional fees.

Six months ended OctoberJuly 31, 2016, related2021 compared to the Company’s registration statement.six months ended July 31, 2020

We

During the six months ended July 31, 2021, we had incurred a net loss of $3,317 and $5,144$8,600 compared to $12,104 for the threesix months ended OctoberJuly 31, 20172020. The decrease in net loss was due to a decrease in professional fees.

Liquidity and 2016,Capital Resources

As of July 31, 2021 and January 31, 2021, our total assets were $3,642 and $3,767, respectively.

Nine months ended OctoberAs of July 31, 20172021 and January 31, 2021, our total liabilities were $69,773 and $61,298, respectively.

Stockholders’ deficit was at $66,131 as of July 31, 2021 compared to period from June 30, 2016 (inception) to October$57,531 as of January 31, 2016.2021.

		Nine months ended October 31, 2017				Period from June 30, 2016 (inception) to October 31, 2016
Revenue		$	-			$	-
Operating expenses		$	18,017			$	7,504
Net loss		$	(18,017	)		$	(7,504	)

Our operating expenses, for the nine months ended OctoberAs of July 31, 2017 were $18,0172021, we had a working capital deficiency of $66,131 compared to $7,504 for the period ended Octoberwith $57,531 as of January 31, 2016.2021. The increase in operating expensesworking capital deficiency was primarily as a result of legal and accounting fees,due to an increase in due to related to the Company’s increased operational activity.party.

We incurred a net loss of $18,017 for the nine months ended October 31, 2017 and $7,504 for the period ended October 31, 2016.

Liquidity and Capital Resources

The following table provides selected financial data about our company as of October 31, 2017 and January 31, 2017, respectively.

Working Capital

		As at October 31, 2017				As at January 31, 2017
Total current assets		$	9,079			$	11,813
Total current liabilities		$	13,038			$	999
Working capital (deficit)		$	(3,959	)		$	10,814

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Cash Flow from Operating Activities

Cash FlowsFor the six months ended July 31, 2021, net cash flows used in operating activities was $15,525 attributed to a net loss of $8,600, increased by a decrease in accounts payable and accrued liabilities of $6,925.

		Nine Months ended October 31, 2017				Period from June 30, 2016 (inception) to October 31, 2016
Net cash used in operating activities		$	(7,887	)		$	(6,508	)
Net cash provided by investing activities		$	-			$	-
Net cash provided by financing activities		$	5,153			$	20,064
Increase (Decrease) in cash		$	(2,734	)		$	13,556

As at OctoberFor the six months ended July 31, 2017 our company’s2020, net cash balanceflows provided by operating activities was $9,079 and total assets were $9,079. As at January 31, 2017, our company’s cash balance was $11,813 and total assets were $11,813.

As at October 31, 2017, our company had total liabilities$397 attributed to a net loss of $13,038, compared with total liabilities of $999 as at January 31, 2017.

As at October 31, 2017, our company had working capital deficit of $3,959 compared with working capital of $10,814 as at January 31, 2017. The decrease in working capital was primarily attributed to$12,104, decreased by an increase in accounts payable and accrued liabilities.liabilities of $12,501.

Cash Flow from Operating Activities

During the nine months ended October 31, 2017, our company used $7,887 in cash from operating activities, compared to $6,508 cash used in operating activities during the period ended October 31, 2016. The cash used from operating activities for the nine months ended October 31, 2017 was attributed to a net loss of $18,017, and an increase in accounts payable of $10,132.

Cash Flow from Financing Activities

DuringFor the ninesix months ended OctoberJuly 31, 2017 our company received $1,908 from2021, net cash provided by financing activities was $15,400 from related parties and $3,245 proceedsadvances from the issuancedirector of common shares, compared to $64 received fromthe Company.

For the six months ended July 31, 2020, net cash used in financing activities was $1,003 from related parties and $20,000 proceeds fromrepayment to the issuancedirector of common shares during the period ended October 31, 2016.Company.

The report of our auditors on our audited financial statements for the fiscal year ended January 31, 2017, contains a going concern qualification as we have suffered losses since our inception. We have not attained profitable operations and are dependent upon obtaining financing to pursue any extensive acquisitions and activities. For these reasons, our auditors stated in their report on our audited financial statements that they have substantial doubt that we will be able to continue as a going concern without further financing.

Off-Balance Sheet Arrangements

We do not have noany 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, and capital expenditures or capital resources that areis material to stockholders.an investor in our securities.

Critical Accounting Policies

We prepare our financial statements in conformity with GAAP, which requires management to make certain estimates and assumptions and apply judgments. We base our estimates and judgments on historical experience, current trends and other factors that management believes to be important at the time the financial statements are prepared and actual results could differ from our estimates and such differences could be material. We have identified below the critical accounting policies which are assumptions made by management about matters that are highly uncertain and that are of critical importance in the presentation of our financial position, results of operations and cash flows. Due to the need to make estimates about the effect of matters that are inherently uncertain, materially different amounts could be reported under different conditions or using different assumptions. On a regular basis, we review our critical accounting policies and how they are applied in the preparation our financial statements.

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Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

As a “smaller reporting company”, we are not required to provide the information required by this Item.

Item 4. Controls and Procedures

Management’s Report on Disclosure Controls and Procedures

AsOur management, with the participation of October 31, 2017, management assessedour Chief Executive Officer (our principal executive officer, principal financial officer and principal accounting officer), has evaluated the effectiveness of our internal control over financial reporting based ondisclosure controls and procedures (as defined in Rules 13a- 15(e) and 15d- 15(e) under the criteria for effective internal control over financial reporting established in Internal Control-Integrated Framework issued by the CommitteeSecurities Exchange Act of Sponsoring Organizations1934, as amended (Exchange Act)), as of the Treadway Commission ("COSO") and SEC guidance on conducting such assessments. Based on that evaluation, they concluded that, duringend of the period covered by this report,Quarterly Report on Form 10-Q. Based on such internalevaluation, our Chief Executive Officer has concluded that as of such date, our disclosure controls and procedures were not effective such that the information relating to detect the inappropriate application of US GAAP rules as more fully described below. This was due to deficiencies that existed in the design or operation of our internal controls over financial reporting that adversely affected our internal controls and that may be consideredus required to be material weaknesses.

The matters involving internal controlsdisclosed in our Securities and procedures thatExchange Commission (“SEC”) reports (i) is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms, and (ii) is accumulated and communicated to our management, consideredincluding our chief executive officer and chief financial officer, as appropriate to be material weaknesses under the standards of the Public Company Accounting Oversight Board were: (1) lack of a functioning audit committee, (2) lack of a majority of outside directors on our board of directors, resulting in ineffective oversight in the establishment and monitoring ofallow timely decisions regarding required internal controls and procedures; (3) inadequate segregation of duties consistent with control objectives; and (4) management dominated by a single individual without adequate compensating controls. The aforementioned material weaknesses were identified by our Chief Executive and Financial Officer in connection with the review of our financial statements as of October 31, 2017.

Management believes that the material weaknesses set forth above did not have an effect on our financial results. However, management believes that the lack of a functioning audit committee and the lack of a majority of outside directors on our board of directors results in ineffective oversight in the establishment and monitoring of required internal controls and procedures, which could result in a material misstatement in our financial statements in future periods.disclosure.

Changes in Internal Control Over Financial Reporting

During the period covered by this report there were no changes in our internal control over financial reporting that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II - OTHER INFORMATION

Item 1. Legal Proceedings

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

Item 1A. Risk Factors

As a “smaller reporting company”, we are not required to provide the information required by this Item.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

None.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures

Not applicable.

Item 5. Other Information

On December 18, 2017, our board of directors approved the dismissal of Anton & Chia, LLP ("Anton") and the engagement of Heaton & Company, PLLC dba Pinnacle Accountancy Group of Utah as our new independent registered public accounting firm.None.

During our company’s most recent fiscal year and through December 18, 2017, the date of dismissal, (a) there were no disagreements with Anton on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of Anton would have caused it to make reference to the matter in their reports and (b) there were no “reportable events” as described in Item 304(a)(1)(v) of Regulation S-K.

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Item 6. Exhibits

Exhibit Number		Description
(31)		Rule 13a-14 (d)/15d-14d) Certifications
31.1*		Section 302 Certification by the Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer
(32)		Section 1350 Certifications
32.1**		Section 906 Certification by the Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer
101*		Interactive Data File
101.INS		XBRL Instance Document
101.SCH		XBRL Taxonomy Extension Schema Document
101.CAL		XBRL Taxonomy Extension SchemaCalculation Linkbase Document
101.CAL101.DEF		XBRL Taxonomy Extension CalculationDefinition Linkbase Document
101.DEF101.LAB		XBRL Taxonomy Extension DefinitionLabel Linkbase Document
101.LAB101.PRE		XBRL Taxonomy Extension LabelPresentation Linkbase Document
101.PRE		XBRL Taxonomy Extension Presentation Linkbase Document

_____________

* Filed herewith.

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

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SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		CICLET HOLDINGS INC.
		(Registrant)
Dated: December 20, 201723, 2021	By:	/s/ Eugenio L. Jumawan Jr.
		Eugenio L. Jumawan Jr.
		Eugenio L. Jumawan Jr.President, Secretary, Treasurer and Director
		President, Secretary, Treasurer(Principal Executive Officer, Principal Financial Officer and Director Principal Accounting Officer)
		(Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer)

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