Ahead-Trying Statements
Sure statements, apart from purely historic info, together with
estimates, projections, statements referring to our enterprise plans, goals,
and anticipated working outcomes, and the assumptions upon which these statements
are based mostly, are “forward-looking statements” inside the which means of the Non-public
Securities Litigation Reform Act of 1995, Part 27A of the Securities Act of
1933 and Part 21E of the Securities Trade Act of 1934. These
forward-looking statements usually are recognized by the phrases “believes,”
“mission,” “expects,” “anticipates,” “estimates,” “intends,” “technique,” “plan,”
“could,” “will,” “would,” “shall be,” “will proceed,” “will probably end result,” and
comparable expressions. We intend such forward-looking statements to be lined by
the safe-harbor provisions for forward-looking statements contained within the
Non-public Securities Litigation Reform Act of 1995, and are together with this
assertion for functions of complying with these safe-harbor provisions.
Ahead-looking statements are based mostly on present expectations and assumptions
which are topic to dangers and uncertainties which can trigger precise outcomes to
differ materially from the forward-looking statements. Our skill to foretell
outcomes or the precise impact of future plans or methods is inherently
unsure. Elements which might have a fabric hostile impact on our operations
and future prospects on a consolidated foundation embody, however should not restricted to:
modifications in financial situations, legislative/regulatory modifications, availability of
capital, rates of interest, competitors, and usually accepted accounting
rules. These dangers and uncertainties must also be thought-about in
evaluating forward-looking statements and undue reliance shouldn’t be positioned on
such statements.
Any references to “the Firm” confer with Exceed World, Inc., which operates
by its wholly owned subsidiaries.
Firm Overview
Company Historical past
The Firm was initially integrated with the title Sensible Acquisition,
Inc., beneath the legal guidelines of the State of Delaware on November 25, 2014, with an
goal to amass, or merge with, an working enterprise. On January 12, 2016,
Thomas DeNunzio of 780 Reservoir Avenue, #123, Cranston, RI 02910, the only real
shareholder of the Firm, entered right into a Share Buy Settlement with
e-Studying Laboratory Co., Ltd., a Japan company (“e-Studying”). Pursuant to
the Settlement, Mr. DeNunzio transferred to e-Studying, 20,000,000 shares of our
widespread inventory which represents all of our issued and excellent shares.
Following the closing of the share buy transaction, e-Studying gained a
100% curiosity within the issued and excellent shares of our widespread inventory and
turned the controlling shareholder of the Firm.
On January 12, 2016, the Firm modified its title to Exceed World, Inc. and
filed with the Delaware Secretary of State, a Certificates of Modification. On
January 12, 2016, Mr. Thomas DeNunzio resigned as our Chief Government Officer,
Chief Monetary Officer, President, Director, Secretary, and Treasurer. Additionally, on
January 12, 2016, Mr. Tomoo Yoshida was appointed as our Chief Government
Officer, Chief Monetary Officer, President, Director, Secretary, and Treasurer.
On February 29, 2016, the Firm entered right into a Inventory Buy Settlement with
Tomoo Yoshida, our Chief Government Officer, Chief Monetary Officer, President,
Director, Secretary, and Treasurer. Pursuant to this Settlement, Tomoo Yoshida
transferred to Exceed World, Inc., 10 shares of the widespread inventory of E&F Co.,
Ltd., a Japan company (“E&F”), which represents all of its issued and
excellent shares in consideration of $4,835 (JPY 500,000). Following the
efficient date of the share buy transaction on February 29, 2016, Exceed
World, Inc. gained a 100% curiosity within the issued and excellent shares of E&F’s
widespread inventory and E&F turned a completely owned subsidiary of Exceed World. On August
4, 2016, the E&F modified its title to Faculty TV Co., Ltd (“Faculty TV”) and filed
with the Authorized Affairs Bureau in Osaka, Japan.
On April 1, 2016, e-Studying entered into inventory buy agreements with 7
Japanese people. Pursuant to those agreements, e-Studying bought 140,000
shares of widespread inventory in whole to those people and obtained $270 as
combination consideration. Every paid JPY0.215 per share. On the time of buy
the worth paid per share by every was the equal of about $0.002. This sale
of shares was exempt from registration in accordance with Regulation S of the
Securities Act of 1933, as amended (“Regulation S”) as a result of the above gross sales of
the inventory have been made to non-U.S. individuals as outlined beneath Rule 902 part
(okay)(2)(i) of Regulation S, pursuant to offshore transactions, and no directed
promoting efforts have been made in the USA by the issuer, a distributor, any
of their respective associates, or any individual performing on behalf of any of the
foregoing.
On August 1, 2016, the Firm modified its fiscal 12 months finish from November 30 to
September 30.
On August 9, 2016, e-Studying entered into inventory buy agreements with 33
Japanese people. Pursuant to those agreements, e-Studying bought 3,300 shares
of widespread inventory in whole to those people and obtained $330 as combination
consideration. Every paid JPY10 per share. On the time of buy the worth paid
per share by every shareholder was the equal to about $0.1. These shares
have been bought pursuant to the Firm’s efficient S-1 Registration Assertion deemed
efficient on July 20, 2016 at 4pm EST.
On October 28, 2016, the Firm, with the approval of its board of administrators
and its majority shareholders by written consent in lieu of a gathering,
approved the cancellation of shares owned by e-Studying. e-Studying consented
to the cancellation of shares. The entire variety of shares cancelled was
19,000,000 shares which was comprised of 16,500,000 restricted widespread shares and
2,500,000 free buying and selling shares.
On October 28, 2016, each one (1) share of widespread inventory, par worth $.0001 per
share, of the Firm issued and excellent was mechanically reclassified and
turned into twenty (20) shares totally paid and non-assessable shares of widespread
inventory of the Firm, par worth $.0001 per share. (“20-for-1 Ahead Inventory
Cut up”) No fractional shares have been issued. The approved variety of shares, and
par worth per share, of widespread inventory should not affected by the 20-for-1 Ahead
Inventory Cut up.
Throughout July 2017 and August 2017, e-Studying entered into inventory buy
agreements with 24 Japanese people. Pursuant to those agreements,
e-Studying bought 2,240,000 shares of its widespread inventory in whole to those
people and obtained $38,263 as combination consideration.
On September 26, 2018, Power Internationale Restricted, a Cayman Island restricted
firm (“Power Internationale”) entered right into a Share Buy Settlement with
its wholly-owned subsidiary, e-Studying and 74.5% proprietor of the Firm. Below
this Share Buy Settlement, e-Studying transferred its 74.5% curiosity within the
Firm to Power Internationale. As consideration for this switch, Power
Internationale paid $26,000.00 to e-Studying. Instantly subsequent, the
Firm entered right into a Share Buy Settlement with Power Internationale, to
purchase 100% of Power Holdings and 100% direct proprietor of e-Studying. In
consideration of this settlement, the Firm issued 12,700,000 widespread shares to
Power Internationale. The results of these transaction is that Power
Internationale is a 84.4% proprietor of the Firm, the Firm is a 100% proprietor of
Power Holdings, and Power Holdings is a 100% proprietor of e-Studying. Previous to the
Share Buy Agreements, Power Internationale was an oblique proprietor of 74.5%
of the Firm and subsequent to the Share Buy Agreements, Power
Internationale is a direct proprietor of 84.4% of the Firm. The Share Buy
Agreements have been authorized by the boards of administrators of every of the Firm,
Power Internationale, Power Holdings, and e-Studying.
On December 6, 2018, the Firm entered right into a share contribution settlement
(the “Contribution Settlement”) with Power Internationale. Below this Settlement,
the Firm transferred 100% of the fairness curiosity of Faculty TV Co., Ltd.
(“Faculty TV”), to Power Internationale with out consideration. This Contribution
Settlement was authorized by the board of administrators of the Firm, Power
Internationale and Faculty TV. Upon the completion of the disposal, Faculty TV was
deconsolidated from the Firm’s consolidated monetary statements.
Enterprise Data
As of December 31, 2021, we function by our wholly-owned subsidiaries, which
are engaged within the provision of the academic companies by an web
platform known as “Power Membership”.
Our principal government places of work are situated at 1-1-36, 1-23-38-6F, Esaka-cho,
Suita-shi, Osaka 564-0063, Japan. Our telephone quantity is +81-6-6339-4177.
Liquidity and Capital Assets
As of December 31, 2021, and September 30, 2021, we had money and money
equivalents within the quantity of $19,282,952 and $23,056,242, respectively.
At the moment, our money stability is ample to fund our operations with out the
want for extra funding.
Revenues
We recorded income of $5,042,587 for the three months December 31, 2021 as
against $10,911,737 for the three months ended December 31, 2020. The
lower in income, in our opinion, is attributed to lower in recruitment
actions of premium Power Membership members.
Internet Revenue
We recorded internet lack of $669,726 for the three months ended December 31, 2021 as
against internet revenue of $2,292,093 for the three months ended December 31,
2020. The lower in internet revenue is attributed to lower in revenues.
Money stream
For the three months ended December 31, 2021 we had destructive money flows from
operations within the quantity of $3,117,932. For the three months ended December 31,
2020, we had money flows from operations within the quantity of $825,481. The lower
in working money stream, in our opinion, is especially attributed to the lower in
internet revenue and alter in honest worth of marketable securities, and improve in
settlement of account payable and revenue tax payable.
Working capital
As of December 31 2021, and September 30, 2021, we had working capital of
$14,619,284 and $15,695,158, respectively.
Promoting
Promoting prices are expensed as incurred and included in promoting and
distributions bills. Promoting bills have been $343,570 and $91,524 for the
three months ended December, 2021 and 2020, respectively.
Promoting bills have been comprised of, however not restricted to, gross sales occasions hosted
for gross sales brokers, exhibitions to advertise and show firm product choices,
signboards, and public relations actions.
Future Plans
Over the course of the subsequent twelve months, the Firm continues to deal with
increasing its gross sales community with a purpose to strengthen its enterprise actions.
Although the gross sales have been comparatively sluggish within the first quarter of the monetary 12 months
ending September 30, 2022, the Firm expects that it will likely be recovered within the
second quarter and afterwards because of the gross sales promotions made within the first
quarter. We additionally plan to supply some advantages and incentives to the Premium
Members as value-added companies, along with the conventional compensation bundle.
Affect of COVID-19
For the reason that restrictions as a result of Covid-19 have been eased after the State of Emergency
was lifted on September 30, 2021, the economic system in Japan have been step by step
recovered within the first quarter of the monetary 12 months ending September 30, 2022.
Nonetheless, trying on the latest fast unfold of the Omicron variant, there may be
excessive uncertainty of the evolving scenario. Due to this fact, the Firm has restricted
visibility on the complete affect introduced upon by the COVID-19 pandemic and the
associated monetary affect can’t be estimated right now.
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