NOTES TO CONDENSED FINANCIAL STATEMENTS
May 31, 2021
(Unaudited)
NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS
Anvi Global Holdings, Inc., (the “Company”
“AGH”) was incorporated under the laws of the State of Nevada on August 15, 2012.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation
The Company’s unaudited condensed financial
statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S.
GAAP”). The accompanying unaudited condensed financial statements reflect all adjustments, consisting of only normal recurring items,
which, in the opinion of management, are necessary for a fair statement of the results of operations for the periods shown and are not
necessarily indicative of the results to be expected for the full year ending February 28, 2022. These unaudited condensed financial statements
should be read in conjunction with the financial statements and related notes included in the Company’s Annual Report on Form 10-K
for the year ended February 28, 2021.
Use of Estimates
The preparation of financial statements in conformity
with generally accepted accounting principles 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 revenues and expenses during the reporting period. Significant estimates include the estimated useful lives of property and equipment.
Actual results could differ from those estimates.
Concentrations of Credit Risk
We maintain our cash in bank deposit accounts, the
balances of which at times may exceed federally insured limits. We continually monitor our banking relationships and consequently have
not experienced any losses in our accounts. We believe we are not exposed to any significant credit risk on cash.
Cash Equivalents
The Company considers all highly liquid investments
with a maturity of three months or less when purchased to be cash equivalents. There were no cash equivalents for the three months ended
May 31, 2021 or the year ended February 28, 2021.
Recent Accounting Pronouncements
The Company has implemented all new accounting pronouncements
that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and
the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact
on its financial position or results of operations.
NOTE 3 - GOING CONCERN
The accompanying unaudited financial statements have
been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal
course of business. The Company has had no revenue and has accumulated a deficit of $1,423,734 as of May 31, 2021. The Company requires
capital for its contemplated operational and marketing activities. The Company’s ability to raise additional capital through the
future issuances of common stock is unknown. The obtainment of additional financing, the successful development of the Company’s
contemplated plan of operations, and its transition, ultimately, to the attainment of profitable operations are necessary for the Company
to continue operations. These conditions and the ability to successfully resolve these factors raise substantial doubt about the Company’s
ability to continue as a going concern. The financial statements of the Company do not include any adjustments that may result from the
outcome of these uncertainties.
The Company has discussed ways in order to mitigate
conditions or events that may raise substantial doubt about its ability to continue as a going concern, there are no assurances that any
of these measures will successfully mitigate or be effective at all. (1) The Company shall pursue financing plans to raise funds to judiciously
spend towards operational expenses, (2) The Company shall continue to employ low cost measures to operate its business and analyze any
unnecessary cost or expense, (3) The Company will seek to avoid unnecessary expenditures, travel, and lodging costs that are not mission
critical to its business.
NOTE 4 – PREPAID TRANSACTIONS
As of May 31, 2021
and February 28, 2021, the Company had $11,342 and $11,667 of prepaid expenses, respectively, for OTC Market’s
annual fee and accounting services.
NOTE 5 - RELATED PARTY TRANSACTIONS
On May 28, 2014,
the Company executed a service agreement with Strategic-IT Group Inc. Strategic-IT Group Inc. is owned and operated by Rama Mohan R. Busa,
CEO. Services to be provided at $12,000 a month include, but are not limited to, providing office space, IT and related services, business
consulting, and investor relations. On July 27, 2020, the service agreement was assigned to Anvi Global Inc (a company owned by the CEO).
As of May 31, 2021 and February 28, 2021, the Company has an accrued, unpaid balance
due of $900,000 and $900,000, respectively.
On July 27,
2020, Strategic-IT Group Inc., assigned their service agreement with the Company to Anvi Global, Inc. All terms under the original agreement
remain the same. Anvi Global, Inc. is owned by the CEO. As of May 31, 2021 and February 28, 2021,
the Company has accounts payable due to Anvi Global, Inc. of $108,000 and $72,000, respectively.
Since 2018 Rama
Mohan R. Busa, CEO, has advanced funds to the Company from his personal account and related companies. The advances are to pay for operating
expenses, are unsecured, non-interest bearing and due on demand. As of May 31, 2021 and February 28, 2021,
the balance due was $335,458 and $321,458, respectively.
NOTE 6 – SUBSEQUENT EVENTS
In accordance with SFAS 165 (ASC 855-10) management
has performed an evaluation of subsequent events through the date that the financial statements were available to be issued and has determined
that it does not have any material subsequent events to disclose in these financial statements.
Special Note Regarding Forward-Looking Statements
The following discussion should be read in conjunction
with our unaudited financial statements, which are included elsewhere in this Form 10-Q (the “Report”). This Report contains
forward-looking statements which 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.
While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current
judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions,
projections, assumptions or other future performance suggested herein. 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.