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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

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

 

For the quarterly period ended September 30, 2021

 

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

 

For the transition period from _________ to _________

 

Commission File Number: 000-55819

 

STRONG SOLUTIONS, INC.

(Exact name of Registrant as specified in its charter)

 

Nevada   38-3942046
(State of incorporation)   (IRS Employer ID Number)

 

1894 William St., Ste 4 – 250, Carson City, NV 89701

(Address of Principal Executive Offices) Zip Code

 

775-434-4451

(Registrant’s telephone number)

 

Not Applicable

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

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common   SGOU   OTC Pinksheets

 

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.

 

Yes ☒ No ☐

 

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

 

Large accelerated filer ☐ Accelerated filer ☐
Non-accelerated filer ☐ Smaller reporting company ☐
  Emerging Growth Company ☒

 

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

 

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

 

Yes ☒ No ☐

 

As of September 30, 2021, there were 42,051,000 shares of our common stock issued and outstanding.

 

 

 

 
 

 

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

 

Certain information included in this Quarterly Report on Form 10-Q and other filings of the Registrant under the Securities Act of 1933, as amended (the “Securities Act”), and the Securities Exchange Act of 1934, as amended (the “Exchange Act”), as well as information communicated orally or in writing between the dates of such filings, contains or may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Forward-looking statements in this Quarterly Report on Form 10-Q, including without limitation, statements related to our plans, strategies, objectives, expectations, intentions and adequacy of resources, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from expected results. Among these risks, trends and uncertainties are the availability of working capital to fund our operations, the competitive market in which we operate, the efficient and uninterrupted operation of our computer and communications systems, our ability to generate a profit and execute our business plan, the retention of key personnel, our ability to protect and defend our intellectual property, the effects of governmental regulation, and other risks identified in the Registrant’s filings with the Securities and Exchange Commission from time to time.

 

In some cases, forward-looking statements can be identified by terminology such as “may,” “will,” “should,” “could,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of such terms or other comparable terminology. Although the Registrant believes that the expectations reflected in the forward-looking statements contained herein are reasonable, the Registrant cannot guarantee future results, levels of activity, performance or achievements. Moreover, neither the Registrant, nor any other person, assumes responsibility for the accuracy and completeness of such statements. The Registrant is under no duty to update any of the forward-looking statements contained herein after the date of this Quarterly Report on Form 10-Q.

 

 
 

 

TABLE OF CONTENTS

 

    Page No.
  PART I – FINANCIAL INFORMATION  
         
Item 1. Financial Statements: 1
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 9
Item 3. Quantitative and Qualitative Disclosures About Market Risk 11
Item 4. Controls and Procedures 11
     
  PART II – OTHER INFORMATION  
     
Item 1. Legal Proceedings 12
Item 1a. Risk Factors 12
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 12
Item 3. Defaults Upon Senior Securities 12
Item 4. Mine Safety Disclosures 12
Item 5. Other Information 12
Item 6. Exhibits 12

 

 
 

 

STRONG SOLUTIONS, INC.

 

BALANCE SHEETS

(Unaudited)

 

    September 30, 2021     December 31, 2020  
ASSETS                
CURRENT ASSETS:                
Cash   $ -     $ -  
Total current assets     -       -  
                 
      -       -  
Assets of discontinued operations     -       17,457  
TOTAL ASSETS   $ -     $ 17,457  
                 
LIABILITIES AND STOCKHOLDERS’ DEFICIT                
                 
CURRENT LIABILITIES:                
Accounts payable and accrued liabilities     111,894       -  
Note payable – related party     6,956       -  
Liabilities of discontinued operations     146,350       143,500  
Total current liabilities     265,201       143,500  
                 
Commitments and Contingencies     -       -  
                 
STOCKHOLDERS’ DEFICIT                
Common stock, par value $0.0001 per share; 75,000,000 shares authorized; 42,051,000 and 38,193,000 shares issued and outstanding as of September 30, 2021 and December 31, 2020     4,205       3,819  
Additional paid in capital     853,939       363,111  
Accumulated deficit     (1,123,345 )     (492,973 )
Total stockholders’ deficit     (265,201 )     (126,043 )
                 
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT   $ -     $ 17,457  

 

1
 

 

STRONG SOLUTIONS, INC.

 

STATEMENTS OF OPERATIONS

(Unaudited)

 

    2021     2020     2021     2020  
    For the three months ended     For the nine months ended  
    September 30,     September 30,  
    2021     2020     2021     2020  
Operating expenses                                
Stock based compensation – related party     -       -       460,425       -  
General and Administrative expenses     44,896       -       147,830       -  
Total operating expense     44,896       -       608,255       -  
                                 
Loss from operations     (44,896 )     -       (608,255 )     -  
                                 
Interest expense     -       -       (6 )     -  
Loss from disposition of discontinued operations     -       -       (17,061 )     -  
Total other income (expenses)     -       -       (17,067 )     -  
                                 
Net loss from continuing operations     (44,896 )   $ -     $ (625,322 )   $ -  
Net loss from discontinued operations     -       (6,178 )     (5,050 )     (21,200 )
Net loss   $ (44,896 )   $ (6,178 )   $ (630,372 )   $ (21,200 )
                                 
Net loss per common share – basic and diluted   $ (0.00 )   $ (0.00 )   $ (0.02 )   $ (0.00 )
Weighted average common shares outstanding – basic and diluted     40,551,000       37,093,000       40,263,810       36,293,000  

 

2
 

 

STRONG SOLUTIONS, INC.

 

STATEMENT OF STOCKHOLDERS’ DEFICIT

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2021 AND 2020

(Unaudited)

 

    Common Stock:
Shares 		    Common Stock: Amount     Additional Paid in Capital     Accumulated
Deficit 		    Totals  
Balance – December 31, 2020     38,193,000     $ 3,819     $ 363,111     $ (492,973 )   $ (126,043 )
                                         
Common stock issued to related party for cash     526,200       53       5,147               5,200  
Common stock issued to related party for services     81,800       8       800               808  
Stock compensation paid to CEO     750,000       75       460,425               460,500  
Net loss for the period     -       -       -       (489,327 )     (489,327 )
Balance March 31, 2021     39,551,000     $ 3,955     $ 829,483     $ (982,300 )   $ (148,862 )
                                         
Common stock issued to related party for services     2,500,000       250       24,456               24,706  
Net loss for the period     -       -       -       (96,149 )     (96,149 )
Balance June 30, 2021     42,051,000     $ 4,205     $ 853,939     $ (1,078,449 )   $ (220,305 )
                                         
                      -               -  
Net loss for the period     -       -       -       (44,896 )     (44,896 )
Balance September 30, 2021     42,051,000     $ 4,205     $ 853,939     $ (1,123,345 )   $ (265,201 )

 

    Common Stock:
Shares 		    Common Stock: Amount     Additional Paid in Capital     Accumulated
Deficit 		    Totals  
Balance - December 31, 2019     36,293,000     $ 3,629     $ 344,301     $ (457,660 )   $ (109,730 )
                                         
Net loss for the period     -       -       -       (8,348 )     (8,348 )
Balance March 31, 2020     36,293,000     $ 3,629     $ 344,301     $ (466,088 )   $ (118,078 )
                                         
Net loss for the period     -       -       -       (6,674 )     (6,674 )
Balance June 30, 2020     36,293,000     $ 3,629     $ 344,301     $ (472,762 )   $ (124,752 )
                                         
Common stock issued to NV Share Service     800,000       80       7,920       -       8,000  
Net loss for the period     -       -       -       (6,178 )     (6,178 )
Balance September 30, 2020     37,093,000     $ 3,709     $ 352,221     $ (478,860 )   $ (122,930 )

 

3
 

 

STRONG SOLUTIONS, INC.

 

STATEMENTS OF CASH FLOWS

(Unaudited)

 

    2021     2020  
    For the Nine Months Ended September 30,  
    2021     2020  
OPERATING ACTIVITIES:                
Net loss from continuing operations   $ (625,322 )   $ -  
Net loss from discontinued operations     (5,050 )     (21,200 )
Net loss     (630,372 )     (21,200 )
Adjustments to reconcile net loss to net cash (used in) operating activities:                
Shares issued to related party for services     25,514       -  
Shares issued to CEO     460,500       -  
Loss on disposition of discontinued operations     17,457       -  
Changes in assets and liabilities                
Accounts payable and accrued expenses     107,040       -  
Loan payable – related party     11,810       -  
NET CASH USED IN CONTINUED OPERATING ACTIVITIES     (8,050 )     -  
NET CASH USED IN DISCONTINUED OPERATING ACTIVITIES     2,850       (5,450 )
NET CASH USED IN OPERATING ACTIVITIES     (5,200 )     (5,450 )
Common stock issued to related party     5,200       -  
NET CASH PROVIDED BY CONTINUED FINANCING ACTIVITIES     5,200       -  
NET CASH PROVIDED BY DISCONTINUED FINANCING ACTIVITIES     -       8,000  
NET CASH PROVIDED BY FINANCING ACTIVITIES     -       8,000  
EFFECT OF EXCHANGE RATE CHANGES     -       -  
                 
NET INCREASE (DECREASE) IN CASH     -       2,550  
                 
CASH – BEGINNING OF PERIOD     -       1,770  
CASH – END OF PERIOD   $ -     $ 4,320  
LESS NET CASH FROM DISCONTINUED OPERATIONS - END OF PERIOD     -       (4,320 )
NET CASH FROM CONTINUING OPERATIONS – END OF PERIOD     -       -  
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION:                
Cash paid for income taxes     -       -  
Cash paid for interest     -       -  
                 
NON-CASH INVESTING AND FINANCING ACTIVITES:                

 

4
 

 

STRONG SOLUTIONS INC.

 

NOTES TO FINANCIAL STATEMENTS

 

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2021

AND THE YEAR ENDED DECEMBER 31, 2020

 

(Unaudited)

 

NOTE 1 – DESCRIPTION OF BUSINESS

 

Strong Solutions, Inc. (the “Company”) was incorporated under the laws of the State of Nevada on June 18, 2014 to engage in the business of real estate management, maintenance and rehabilitation and construction equipment rental in Ukraine. The Company provided this service for companies and individuals outside of the United States of America.

 

As a development-stage enterprise, the Company had no operating revenue from December 31, 2020 through June 30, 2021 as a result of lockdowns from COVID 19 in the Ukraine. As a result, a special shareholders meeting was held on March 22, 2021 and a new board of directors elected.

 

A special board meeting was then held on April 5, 2021 at which officers were appointed and all business in the Ukraine cancelled, including office rent for Mr. Guzii, resulting in no Commission Revenue generated from Ukrainian clients. The Company is currently devoting substantially all its present efforts to securing and establishing a new business in the United States.

 

On April 5, 2021 a Special Board Meeting was held at which all contracts, including Mr. Guzii’s office, in the Ukraine were cancelled, effective January 1, 2021, due to the Covid 19 Pandemic and the Company’s focus on new business in the United States. On that same date, David Anderson was appointed President by a majority of the Board of Directors and Eric Stevenson was appointed Treasurer by a majority of the Board of Directors.

 

On April 05, 2021, the Board of Directors unanimously approved issuing 500,000 shares of common stock to each Director as compensation for serving on the Board. The Board of Directors unanimously approved issuing 500,000 shares of common stock to each Officer as compensation for serving as Management for Strong Solutions, Inc. In addition, each Officer will receive $10,000 a month in compensation and if no funds are available, the compensation shall accrue.

 

NOTE 2 – GOING CONCERN

 

The financial statements have been prepared assuming that the Company will continue as a going concern. Currently, the Company has a cash balance of $0 as of September 30, 2021 and net loss from operation of $605,322 for the nine months ended September 30, 2021. These factors raise substantial doubt about the Company’s ability to continue as a going concern. Management believes that the Company’s capital requirements will depend on many factors including the success of our development efforts and our efforts to raise capital. Management also believes the Company needs to raise additional capital for working purposes. There is no assurance that such financing will be available in the future. The financial statements of the Company do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classifications of liabilities that might be necessary should the Company be unable to continue as a going concern.

 

NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Cash equivalents

 

The Company considers all highly liquid instruments and tries to work in cash equivalent segment. The Company’s funds are deposited in insured institutions.

 

Fixed Assets

 

Fixed assets are stated at historical cost less accumulated depreciation. The historical cost of acquiring an item of fixed assets includes the costs necessarily incurred to bring it to the condition and location necessary for its intended use. Costs associated with repairs and maintenance are expensed as incurred. Depreciation is provided using the straight-line method over the estimated useful lives of the assets.

 

5
 

 

Use of estimates

 

The preparation of the financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from these estimates.

 

Revenue recognition

 

We base our judgment on guidance ASC 606. Accounting Standards Update 2016-08.

 

All revenues appear in current periods to be recognized as gross, so, there is no net revenue recognized in current periods.

 

FASB’s new single, principle-based approach to accounting for revenue from contracts with customers. As the entity, we involved in providing a good and provide service to the customers. In those circumstances, Topic 606 requires us to determine whether the nature of our promise is to provide that good or service to the customers (that is, the entity is a principal) or to arrange for the good or service to be provided to the customers by the other party (that is, the entity is an agent).

 

This determination is based upon whether we control the goods or service before it is transferred to the customer. Some indicators help in this evaluation.

 

1. We identify obligations in a contract. A contract includes promises to transfer temporary rights to use construction equipment in their business for profit.

 

2. We determine the transaction price in a month. The transaction price is the reasonable amount of which we and our customer agree.

 

3. We recognize revenue when our customer obtains control of that equipment and we received the payment.

 

4. The transaction price also can include variable considerations or consideration in a form other than cash. In our property management service with Protel Management we received changeable revenue. If the consideration is variable, we estimate the amount of consideration to which we will be entitled in exchange for the services. The estimated amount of variable consideration will be included in the transaction price only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved.

 

The Company recognizes revenue on the accrual basis, revenue is recognized when earned and services have been performed. We are a principal and recognize the gross amount received from the customer as revenue. Revenues are reported on the income statement when the services have been performed.

 

Stock Based Compensation

 

The Company measures the cost of services received in exchange for an award of equity instruments based on the fair value of the award. For employees and directors and non-employees, the fair value of the award is measured on the grant date. The fair value amount is then recognized over the period during which services are required to be provided in exchange for the award, usually the vesting period. Stock-based compensation expense is recorded by the Company in the same expense classifications in the consolidated statements of operations, as if such amounts were paid in cash.

 

NOTE 4 – COMMITMENTS AND CONTINGENCIES

 

The Company is not currently a party to any material legal proceedings, nor is we aware of any other pending or threatened litigation that would have a material adverse effect on our business, operating results, cash flows or financial condition should such litigation be resolved unfavorable.

 

6
 

 

NOTE 5 – RELATED PARTY TRANSACTIONS

 

Mr. Guzii was our controlling shareholder. He represented the company and provided the services on our behalf to our clients Markus and Protel Management. Mr. Guzii sold his controlling interest to NV Share Services LLC on May 13, 2020. On March 22, 2021 a Special Shareholders Meeting was held at which Mr. Guzii was removed as an officer and director of the Company without prejudice due to the Covid 19 Pandemic, at the request in writing by NV Share Services LLC. On April 5, 2021 a special board meeting was held at which all business in the Ukraine was cancelled, effective January 1, 2021, so that the Company could devote its time to finding new business in the United States.

 

We rented office space from Mr. Guzii in the Ukraine for $450 a month. As of January 1, 2021, we are no longer renting office space from Mr. Guzii. We do not have an employment agreement with Mr. Guzii.

 

On February 24, 2021 the Company issued 750,000 shares of common stock to Mr. Andrii Guzii as compensation for services valued at $460,500. On that same date, the Company issued 608,000 shares of common stock to NV Share Services LLC for cash valued at $6,080.

 

On June 15, 2021 the Company issued 1,000,000 shares of common stock to Mr. Eric Stevenson as compensation for services valued at $9,882.

 

On June 15, 2021 the Company issued 1,000,000 shares of common stock to Mr. David Anderson as compensation for services valued at $9,882.

 

On June 15, 2021 the Company issued 500,000 shares of common stock to Mr. Oscar Kaalstade as compensation for services valued at $4,943.

 

In the period ending Sept. 30,2021 there were no shares issued to any related party.

 

NOTE 6 – COMMON STOCK

 

The company authorized 75,000,000 Common shares $0.0001 par value.

 

We issued 300,000 shares of common stock to Mr. Andrii Guzii in consideration of expenses incurred on December 9, 2020.

 

We issued 800,000 shares of common stock to NV Share Services LLC in consideration of $8,000 in cash on December 7, 2020.

 

We issued 400,000 shares of common stock to NV Share Services LLC in consideration of $4,000 in cash on August 27, 2020.

 

We issued 400,000 shares of common stock NV Share Services LLC in consideration of $4,000 in cash on May 26, 2020.

 

We issued 1,293,000 common shares for cash at a purchase price of $0.01 per share to 31 nonaffiliated shareholders.

 

We issued 5,000,000 common shares for cash at a purchase price of $0.002 per share to our director Mr.Guzii.

 

30,000,000 shares were issued to our director Mr.Guzii for repayment of accrued salary on $30,000 and $270,000 of stock compensation value at $0.01 per share. This value was determined based on the previous sale of stock to unrelated parties at 0.01 per share.

 

On February 24, 2021 the Company issued 750,000 of common stock to Mr. Andrii Guzii as compensation for services valued at $460,500. On that same date, the Company issued 608,000 shares of common stock to NV Share Services LLC for cash valued at $5,200 and services valued at $880.

 

On June 15, 2021 the Company issued a total of 1,000,000 shares of common stock to Mr. Eric Stevenson as compensation for services as both an officer and director valued at $9,882.

 

On June 15, 2021 the Company issued a total of 1,000,000 shares of common stock to Mr. David Anderson as compensation for services as both an officer and director valued at $9,882.

 

On June 15, 2021 the Company issued 500,000 shares of common stock to Mr. Oscar Kaalstade as compensation for services valued at $4,943.

 

As of September 30, 2021, the Company had issued and outstanding 42,051,000 shares of common stock.

 

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NOTE 7 – DISCONTINUED OPERATIONS

 

The Company has just two contracts for property management and equipment rental in the Ukraine where the Pandemic has affected our business and as a result the Board of Directors has canceled its contracts with both Protel Management and Marcus effective January 1, 2021. The office rented for the Company has also been canceled as of January 1, 2021.

 

We provide property management services for Protel Management in the Ukraine. We own construction equipment which is rented out to Marcus monthly. Protel’s property is vacant due to the Pandemic. Marcus’ equipment rental stopped due the Pandemic. With no further business interests in the Ukraine, the Company stopped paying office rent as of January 1, 2021, as determined by the Board of Directors.

 

The major classes of assets and liabilities of Strong Solutions, Inc. at September 30, 2021 are as follows:

 

    September 30, 2021     December 31, 2020  
ASSETS                
Current assets                
Cash and cash equivalents   $ -     $ 2,457  
                 
Total current assets     -       -  
Non-current assets                
Equipment, net     -       15,000  
Assets of discontinued operations   $ -     $ 17,457  
                 
LIABILITIES                
Current liabilities                
Related party accrued shareholder salary   $ 143,350     $ 140,500  
Accounts payable loan from related party     3,000       3,000  
Total current liabilities     146,350       143,500  
Liabilities of discontinued operations     146,350       143,500  
                 
Net (liabilities) assets of discontinued operations   $ (146,350 )   $ (126,043 )

 

NOTE 8 – SUBSEQUENT EVENTS

 

In accordance with ASC 855 the Company’s management reviewed all material events through the date these financial statements were available to be issued, there were no material subsequent events that occurred during the period ending Sept 30, 2021.

 

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

 

Operating results for the nine months ended September 30, 2021, are not necessarily indicative of results that may occur in future interim periods or for the full fiscal year.

 

As used in this Form 10-Q, references to the Company,” “we,” “our” or “us” refer to Strong Solutions, Inc. a Nevada Corporation unless the context otherwise indicates.

 

Forward-Looking Statements

 

Our Form 10 contains “forward–looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and such statements are intended to enjoy the benefit of that act. Unless the context is otherwise, we use words such as “anticipate”, “assumption”, “believe”, “could”, “estimate”, “expect”, “forecast”, “intend”, “may”, “objective”, “outlook”, “plan” and “plans”, “potential”, “predict”, project” and “projection”, “seek”, “should”, “will continue”, “will result” and “would”, or other such words, whether nouns or pronouns and verbs or adverbs in the future tense and words and phrases that convey similar meaning and uncertainty of and information about future events or outcomes and statements about performance that is not an historical fact to identify these forward–looking statements. Such words and statements involve estimates, assumptions and uncertainties, which could cause actual results to differ materially from those expressed in them. Any forward–looking statements are qualified in their entirety by reference to the factors discussed throughout this document. All forward-looking statements concerning economic conditions, rates of growth, rates of income or values as may be included in this document are based on information available to us on the dates noted, and we assume no obligation to update any such forward–looking statements. It is important to note that our actual results may differ materially from those anticipated in such forward-looking statements due to fluctuations in interest rates, inflation, government regulations, economic conditions and competitive product and pricing pressures in the geographic and business areas in which we conduct operations, including our plans, objectives, expectations and intentions and other factors discussed elsewhere in this registration statement.

 

There are a number of important factors beyond our control that could cause actual results to differ materially from the results anticipated by these forward–looking statements. While we make these forward–looking statements based on our beliefs and on various factors and using numerous assumptions using information available at the time we make these statements. Forward-looking statements are neither predictions nor guaranties of future events or circumstances, and the assumptions, beliefs, expectations, forecasts and projections about future events may differ materially from actual results. You have no assurance the factors and assumptions we have used as a basis for forward–looking statements will prove to be materially accurate when the events they anticipate actually occur in the future; and, you should not place undue reliance on any such forward–looking statements. We undertake no obligation to publicly update any forward–looking statement to reflect developments occurring after the date of this registration statement.

 

Business Overview

 

Mr. Andrii Guzii founded us to engage in real estate management and consulting, maintenance and rehabilitation, construction equipment rental business in the Ukraine. At the date of this report a new board was elected, Mr. Guzii was removed as a Director and Officer without prejudice and new officers appointed. The exit from the Ukraine was due to the Covid 19 Pandemic and focusing the Company’s business efforts in the United States. We have cancelled all contracts with Protel Management and Markus, as well as cancelling the office rented for Mr. Guzii.

 

We are now committed to developing new business in the United States.

 

Results of Operations for the three months period ended September 30, 2021 and for the three months period ended September 30, 2020

 

For the three months period ended September 30, 2021 we generated $0 in revenues.

 

For the three months period ended September 30, 2021 we had $44,896 company expenses consist of $1,896 general and administration expense, and $43,000 in professional fees. The professional fees consist mainly of $40,000 was accrued but not paid to our new President and our Treasurer. Our loss from operations was $44,896.

 

For the three months period ended September 30, 2020 we generated $0 in revenues from discontinued operations. Our cash balances were not sufficient to fund our limited levels of operations for any period of time without further revenue or proceeds. NV Share Services LLC purchased 35,000,000 shares of common stock in the Company from Mr. Andrii Guzii May 13, 2020 for cash. Since buying control from Mr. Guzii, NV Share Services LLC has purchased common stock in the Company for $0.01 a share every quarter. There can be no assurances that NV Share Services LLC will continue to purchase shares in the Company. Being a development stage company, we have a limited operating history but had commenced business operations in the Ukraine based upon the amount of limited revenue we have been able to generate.

 

9
 

 

Results of Operations for the nine months period ended September 30, 2021 and for the nine months period ended September 30, 2020

 

For the nine months period ended September 30, 2021 we generated $0 in revenues.

 

For the nine months period ended September 30, 2021 we had $608,255 in company expenses consisting of $8,841 general and administration expense, $138,989 of professional fees and $460,425 in Stock based compensation. The stock-based compensation of $460,500 was paid to our CEO Mr. Andrii Guzii. Our loss from operations was $608,255.

 

For the nine months period ended September 30, 2020 we generated $2,530 in revenues from discontinued operations. Our cash balances were not sufficient to fund our limited levels of operations for any period of time without further revenue or proceeds. NV Share Services LLC purchased 35,000,000 shares of common stock in the Company from Mr. Andrii Guzii May 13, 2020 for cash. Since buying control from Mr. Guzii, NV Share Services LLC has purchased common stock in the Company for $0.01 a share every quarter. There can be no assurances that NV Share Services LLC will continue to purchase shares in the Company. Being a development stage company, we have a limited operating history but had commenced business operations in the Ukraine based upon the amount of limited revenue we have been able to generate.

 

At the present time, we have not made any arrangements to raise additional cash. If we are unable to raise additional cash, we will either have to suspend operations until we do raise the cash or cease operations entirely.

 

During the startup period, our operations were limited due to the limited amount of funds on hand. Our goal was to profitably market and rent our construction equipment and sell related property management and property rehabilitation services. This business was discontinued January 1, 2021 due to several lockdowns in the Ukraine due to the Covid 19 Pandemic. The Board of Directors determined that after three years and no growth in revenue in the Ukraine that it would be better for the Company to cancel all Ukraine contracts and focus on new business in the United States.

 

Liquidity and Capital Resources

 

As of September 30, 2021, and September 30, 2020 we had cash of 0 and $2,457 respectively.

 

We had fixed assets on our balance total $15,000 in Scaffolding and Rafters.

 

Off Balance Sheet Arrangements

 

None

 

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ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

 

An Emerging Growth company, as defined on form 10 is not required to provide the information required by this item.

 

An emerging growth company is also exempt from Section 404(b) of the Sarbanes-Oxley Act which requires that the registered accounting firm shall, in the same report, attest to and report on the assessment on the effectiveness of the internal control structure and procedures for financial reporting. Similarly, as a Smaller Reporting Company we are exempt from Section 404(b) of the Sarbanes-Oxley Act and our independent registered public accounting firm will not be required to formally attest to the effectiveness of our internal control over financial reporting until such time as we cease being a Smaller Reporting Company.

 

As an emerging growth company, we are exempt from Section 14A (a) and (b) of the Securities Exchange Act of 1934 which require the shareholder approval of executive compensation and golden parachutes.

 

Section 107 of the JOBS Act provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. In other words, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected to take advantage of the benefit of this extended transition period.

 

Our financial statements may therefore not be comparable to those of companies that comply with such new or revised accounting standards. We would cease to be an emerging growth company upon the earliest of: • the first fiscal year after our annual gross revenues are $1 billion or more; • the date on which we have, during the previous three-year period, issued more than $1 billion in non-convertible debt securities; • as of the end of any fiscal year in which the market value of our common stock held by non-affiliates exceeded $700 million as of the end of the second quarter of that fiscal year.

 

ITEM 4. CONTROLS AND PROCEDURES

 

Laws and regulations use controls, disclosure obligations and other restrictions that affect the property management development in the Ukraine. Such laws and regulations tend to discourage rent and leasing activities. Transactions in which we were involved may be delayed or abandoned as a result of these restrictions.

 

We are implementing procedures to control advertising and promotions. These procedures are necessary to assure our proper representation and include review of all advertising material and restrictions on how our clients and others can advertise using our brand.

 

Changes in Internal Control Over Financial Reporting

 

There have been no changes in the Company’s internal control over financial reporting identified in connection with the evaluation that occurred during the Company’s last fiscal quarter that has materially affected, or is reasonable likely to materially affect, the Company internal control over financial reporting.

 

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PART II

 

OTHER INFORMATION

 

ITEM 1. LEGAL PROCEEDINGS

 

The Company is not currently a party to any material legal proceedings, nor is we aware of any other pending or threatened litigation that would have a material adverse effect on our business, operating results, cash flows or financial condition should such litigation be resolved unfavorable.

 

ITEM 1A. RISK FACTORS

 

Because we are classified as an Emerging Growth Company under the federal securities laws, we are not required to include risk factors in this 10Q report. The risk factors were included in our form 10.

 

ITEM 2 UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

 

We sold unregistered securities during the nine months ended September 30, 2021. NV Share Services LLC paid cash, $0.01 per share of common stock, to purchase 608,000 shares for $6,008 in cash on February 24, 2021. We issued 750,000 shares of common stock to Mr. Andrii Guzii on February 24, 2021 in for compensation valued at $460,500.

 

On June 15, 2021 the Company issued a total of 1,000,000 shares of common stock to Mr. Eric Stevenson as compensation for services as both an officer and director valued at $9,882.

 

On June 15, 2021 the Company issued a total of 1,000,000 shares of common stock to Mr. David Anderson as compensation for services as both an officer and director valued at $9,882.

 

On June 15, 2021 the Company issued 500,000 shares of common stock to Mr. Oscar Kaalstad as compensation for services valued at $4,943.

 

Purchases of equity securities by the issuer and affiliated purchasers

 

During the nine months ended September 30, 2021 there were no purchases of equity securities by us or affiliated purchasers.

 

Use of Proceeds

 

None

 

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

 

We have no senior securities outstanding.

 

ITEM 4. MINE SAFETY DISCLOSURES

 

Not Applicable.

 

ITEM 5. OTHER INFORMATION

 

None.

 

ITEM 6. EXHIBITS

 

Exhibit No.   Description
     
31.1   Certification by Chief Executive Officer pursuant to Rule 13a-14(a) and Rule 15d-14(a) of the Securities Exchange Act (filed hereto)
     
32.1   Certification by Chief Executive Officer pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (filed hereto)

 

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SIGNATURES

 

Pursuant to the requirements 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.

 

Strong Solutions Inc.  
   
November 15, 2021  
   
By: /s/ Eric Stevenson  
   
Secretary/Treasurer  

 

13

 

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