0001570132 false --02-28 2023 Q2 0001570132 2022-03-01 2022-08-31 0001570132 2022-10-10 0001570132 2022-08-31 0001570132 2022-02-28 0001570132 2022-06-01 2022-08-31 0001570132 2021-06-01 2021-08-31 0001570132 2021-03-01 2021-08-31 0001570132 us-gaap:CommonStockMember 2021-02-28 0001570132 us-gaap:AdditionalPaidInCapitalMember 2021-02-28 0001570132 us-gaap:RetainedEarningsMember 2021-02-28 0001570132 2021-02-28 0001570132 us-gaap:CommonStockMember 2021-05-31 0001570132 us-gaap:AdditionalPaidInCapitalMember 2021-05-31 0001570132 us-gaap:RetainedEarningsMember 2021-05-31 0001570132 2021-05-31 0001570132 us-gaap:CommonStockMember 2022-02-28 0001570132 us-gaap:AdditionalPaidInCapitalMember 2022-02-28 0001570132 us-gaap:RetainedEarningsMember 2022-02-28 0001570132 us-gaap:CommonStockMember 2022-05-31 0001570132 us-gaap:AdditionalPaidInCapitalMember 2022-05-31 0001570132 us-gaap:RetainedEarningsMember 2022-05-31 0001570132 2022-05-31 0001570132 us-gaap:CommonStockMember 2021-03-01 2021-05-31 0001570132 us-gaap:AdditionalPaidInCapitalMember 2021-03-01 2021-05-31 0001570132 us-gaap:RetainedEarningsMember 2021-03-01 2021-05-31 0001570132 2021-03-01 2021-05-31 0001570132 us-gaap:CommonStockMember 2021-06-01 2021-08-31 0001570132 us-gaap:AdditionalPaidInCapitalMember 2021-06-01 2021-08-31 0001570132 us-gaap:RetainedEarningsMember 2021-06-01 2021-08-31 0001570132 us-gaap:CommonStockMember 2022-03-01 2022-05-31 0001570132 us-gaap:AdditionalPaidInCapitalMember 2022-03-01 2022-05-31 0001570132 us-gaap:RetainedEarningsMember 2022-03-01 2022-05-31 0001570132 2022-03-01 2022-05-31 0001570132 us-gaap:CommonStockMember 2022-06-01 2022-08-31 0001570132 us-gaap:AdditionalPaidInCapitalMember 2022-06-01 2022-08-31 0001570132 us-gaap:RetainedEarningsMember 2022-06-01 2022-08-31 0001570132 us-gaap:CommonStockMember 2021-08-31 0001570132 us-gaap:AdditionalPaidInCapitalMember 2021-08-31 0001570132 us-gaap:RetainedEarningsMember 2021-08-31 0001570132 2021-08-31 0001570132 us-gaap:CommonStockMember 2022-08-31 0001570132 us-gaap:AdditionalPaidInCapitalMember 2022-08-31 0001570132 us-gaap:RetainedEarningsMember 2022-08-31 0001570132 ANVI:ServiceAgreementMember ANVI:AnviGlobalIncMember 2014-05-27 2014-05-28 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

 

 

 
 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 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 August 31, 2022
   
☐ 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: 333-188648

 

ANVI GLOBAL HOLDINGS, INC.

(Exact name of registrant as specified in its Charter)

 

Nevada 33-1226144
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)

 

1135 Kildaire Farm Road, Suite 319-4

Cary, NC

 27511
(Address of principal executive offices) (Zip Code)

 

Registrant's telephone number, including area code: (408) 821-4491

 

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:

 

Title of each class Trading Symbol(s) Name of each exchange on which registered
N/A N/A N/A

 

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

 

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

 

Indicate by check mark whether the registrant is a large accelerated 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   ☐ Accelerated filer   ☐
Non-accelerated filer     ☒ Smaller reporting company  ☒
  Emerging growth company  ☐

 

If an emerging growth company, indicate by checkmark 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 ☒

 

State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date: As of October 10, 2022 the issuer had 119,950,000 shares of its common stock issued and outstanding.

 
 

 

 
 

TABLE OF CONTENTS

 

 

  Page
PART I. FINANCIAL INFORMATION  
   
ITEM 1. FINANCIAL STATEMENTS 1
   
Condensed Balance Sheets as of August 31, 2022 (unaudited) and February 28, 2022 1
Condensed Statements of Operations for the Three and Six Months Ended August 31, 2022 and 2021 (unaudited) 2
Condensed Statements of Stockholders’ Deficit for the Three and Six Months Ended August 31, 2022 and 2021 (unaudited) 3
Condensed Statements of Cash Flows for the Six Months Ended August 31, 2022 and 2021 (unaudited) 4
Notes to the Condensed Financial Statements (unaudited) 5
   
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 7
   
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 8
   
ITEM 4. CONTROLS AND PROCEDURES 8
   
PART II. OTHER INFORMATION  
   
ITEM 1. LEGAL PROCEEDINGS 10
   
ITEM 1A. RISK FACTORS 10
   
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 10
   
ITEM 3. DEFAULTS UPON SENIOR SECURITIES 10
   
ITEM 4. MINE SAFETY DISCLOSURES 10
   
ITEM 5. OTHER INFORMATION 10
   
ITEM 6. EXHIBITS 10
   
SIGNATURES 11

 

 

 
 

PART I. FINANCIAL INFORMATION

 

ITEM 1. FINANCIAL STATEMENTS

 

ANVI GLOBAL HOLDINGS, INC.

CONDENSED BALANCE SHEETS

  

         
  

August 31,

2022

  

February 28,

2022

 
   (Unaudited)     
ASSETS          
Current Assets:          
           
Cash  $1,309   $6,891 
Prepaids   4,740    11,850 
           
Total Current Assets   6,049    18,741 
           
Total Assets  $6,049   $18,741 
           
LIABILITIES AND STOCKHOLDERS' DEFICIT          
           
Current Liabilities:          
Accounts payable  $36,764   $42,265 
Accounts payable - related party   288,000    216,000 
Accrued liabilities - related party   900,000    900,000 
Due to an officer   445,130    403,830 
Total current   1,669,894    1,562,095 
           
Total Liabilities   1,669,894    1,562,095 
           
Stockholders' Deficit:          
Preferred stock, $0.001 par value; 50,000,000 shares authorized no shares issued and outstanding   —    — 
Common stock, $0.001 par value; 500,000,000 shares authorized, 119,950,000 shares issued and outstanding   119,950    119,950 
Additional paid-in capital   (61,450)   (61,450)
Accumulated deficit   (1,722,345)   (1,601,854)
           
Total Stockholders’ Deficit   (1,663,845)   (1,543,354)
           
Total Liabilities and Stockholders' Deficit  $6,049   $18,741 

 

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

 

 

1 
 

ANVI GLOBAL HOLDINGS, INC.

CONDENSED STATEMENTS OF OPERATIONS

(Unaudited)

 

                     
   For the Three Months Ended   For the Six Months Ended 
   August 31,   August 31, 
   2022   2021   2022   2021 
                 
Operating Expenses:                    
General and administrative expenses  $61,253   $55,690   $120,491   $109,098 
Total operating expenses   61,253    55,690    120,491    109,098 
                     
Loss from operations   (61,253)   (55,690)   (120,491)   (109,098)
                     
Loss before income taxes   (61,253)   (55,690)   (120,491)   (109,098)
                     
Provision for income taxes   —    —    —    — 
                     
Net loss  $(61,253)  $(55,690)  $(120,491)  $(109,098)
                     
Basic loss per share  $(0.00)  $(0.00)  $(0.00)  $(0.00)
Diluted loss per share  $(0.00)  $(0.00)  $(0.00)  $(0.00)
                     
Basic weighted average shares   119,950,000    119,950,000    119,950,000    119,950,000 
Diluted weighted average shares   119,950,000    119,950,000    119,950,000    119,950,000 

 

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

 

 

 

2 
 

ANVI GLOBAL HOLDINGS, INC.

CONDENSED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT)

(Unaudited)

 

                     
   Common Stock   Additional       Total 
   Shares   Amount  

Paid in

Capital

   Accumulated
Deficit		   Stockholders' Deficit 
Balance, February 28, 2021   119,950,000   $119,950   $(61,450)  $(1,370,326)  $(1,311,826)
Net Loss   —    —    —    (53,408)   (53,408)
Balance, May 31, 2021   119,950,000    119,950    (61,450)   (1,423,734)   (1,365,234)
Net Loss   —    —    —    (55,690)   (55,690)
Balance, August 31, 2021   119,950,000   $119,950   $(61,450)  $(1,479,424)  $(1,420,924)

 

   Common Stock   Additional       Total 
   Shares   Amount  

Paid in

Capital

   Accumulated
Deficit		   Stockholders' Deficit 
Balance, February 28, 2022   119,950,000   $119,950   $(61,450)  $(1,601,854)  $(1,543,354)
Net Loss   —    —    —    (59,238)   (59,238)
Balance, May 31, 2022   119,950,000    119,950    (61,450)   (1,661,092)   (1,602,592)
Net Loss   —    —    —    (61,253)   (61,253)
Balance, August 31, 2022   119,950,000   $119,950   $(61,450)  $(1,722,345)  $(1,663,845)

 

 

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

 

 

3 
 

ANVI GLOBAL HOLDINGS, INC.

CONDENSED STATEMENTS OF CASH FLOWS

(Unaudited)

 

           
   For the Six Months Ended 
   August 31, 
   2022   2021 
Cash flows from operating activities:          
Net loss  $(120,491)  $(109,098)
Adjustments to reconcile net cash used in operating activities:          
Changes in assets and liabilities:          
Prepaids   7,110    7,000 
Accounts payable   (5,500)   3,602 
Accrued liabilities, related party   72,000    72,000 
Net cash used in operating activities   (46,881)   (26,496)
           
Cash flows from investing activities:   —    — 
           
Cash flows from financing activities:          
Advances from an officer   41,299    26,350 
Net cash provided by financing activities   41,299    26,350 
           
Net change in cash   (5,582)   (146)
           
Cash, beginning of period   6,891    4,063 
           
Cash, end of period  $1,309   $3,917 
           
Cash paid during the period for:          
Interest  $—   $— 
Income taxes  $—   $— 

 

 

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

 

 

4 
 

ANVI GLOBAL HOLDINGS, INC.

NOTES TO CONDENSED FINANCIAL STATEMENTS

August 31, 2022

(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, 2023. 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, 2022.

 

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 as of August 31, 2022, or the year ended February 28, 2022.

 

Reclassifications

Certain reclassifications have been made to the prior period financial information to conform to the presentation used in the financial statements for the three and six months ended August 31, 2022.

 

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 $1,722,345 as of August 31, 2022. 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.

 

 

5 

 

 

 

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 August 31, 2022 and February 28, 2022, the Company had $4,740 and $11,850 of prepaid expenses, respectively, for accounting and OTC Market’s annual fee.

 

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 August 31, 2022 and February 28, 2022, 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 August 31, 2022 and February 28, 2022, the Company has accounts payable due to Anvi Global, Inc. of $288,000 and $216,000, 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 August 31, 2022 and February 28, 2022, the balance due was $445,130 and $403,830, 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.

 

6 
 

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.

 

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

 

Anvi Global Holdings, Inc. was incorporated in the State of Nevada on August 15, 2012 and established a fiscal year end of February 28. We formed the Company to commence operations in the business of selling crepes; however, we abandoned that business when control of the Company was sold by Tatiana Fumioka, on May 6, 2014. As a result, we are now controlled by Rama Mohan R. Busa, the principal shareholder and sole officer and director.

 

Anvi Global Holdings, Inc now intends to become a diversified, global holdings company with interest in a suite of businesses in various key segments, including mining, infrastructure, heavy earthworks, health services and aerospace engineering, positioned globally. The Company’s objective is to maximize shareholder value through investing in and/or acquiring a portfolio of companies in emerging global markets like India, South America and Africa, adding value to the operating enterprises. The Company plans to invest in or acquire businesses which offer strategic market position, strong cash flows and robust future potential growth, which are complementary to each other. The Company intends to broaden and intensify positions in carefully selected investment areas and is poised to have strong presence across these countries. As of the date of this Annual Report, the Company has not invested in or acquired any assets or company.

 

Results of Operations

 

The three months ended August 31 , 2022 compared to the three months ended August 31, 2021

 

Operating Expenses

General and administrative expenses were $61,253 for the three months ended August 31, 2022, compared to $55,690 for the three months ended August 31, 2021, an increase of $5,563 or 9.9%. In the current period, we incurred $36,000 of expense from our service agreement with Strategic-IT Group Inc. (Note 5), professional fees of $9,800, OTC Market and state fees of $4,455 and other general expenses, including travel ($8,234), of $10,998. In the prior period, we incurred $36,000 of expense from our service agreement with Strategic-IT Group Inc. (Note 5), professional fees of $7,925, OTC Market fees of $3,500 and other general expenses of $8,265.

 

Net Loss

Our net loss for the three months ended August 31, 2022 was $61,253 compared to $55,690 for the three months ended August 31, 2021.

 

The six months ended August 31 , 2022 compared to the six months ended August 31, 2021

 

Operating Expenses

General and administrative expenses were $120,491 for the six months ended August 31, 2022, compared to $109,098 for the six months ended August 31, 2021, an increase of 11,393 or 10.4%. In the current period, we incurred $72,000 of expense from our service agreement with Strategic-IT Group Inc. (Note 5), professional fees of $18,265, OTC Market and state fees of $9,085 and other general expenses, including travel ($17,364), of $21,141. In the prior period, we incurred $72,000 of expense from our service agreement with Strategic-IT Group Inc. (Note 5), professional fees of $16,850, OTC Market fees of $7,000 and other general expenses, including travel, of $13,248.

 

Net Loss

Our net loss for the six months ended August 31, 2022 was $120,491 compared to $109,098 for the six months ended August 31, 2021.

 

7 
 

Liquidity and Capital Resources

 

Cash Flows from Operating Activities

For the six-month period ended August 31, 2022, net cash flows used in operating activities was $46,881 compared to $26,496 used by operating activities in the prior period.

 

Cash Flows from Financing Activities

For the six-month period ended August 31, 2022 and 2021, our CEO advanced the Company $41,299 and $26,350, respectively.

 

Plan of Operation and Funding

 

We have no lines of credit or other bank financing arrangements capital and generate revenues to meet long-term operating requirements. If and when we commence any operations, additional issuances of equity or convertible debt securities will result in dilution to our current shareholders. Further, such securities might have rights, preferences or privileges senior to our common stock. Additional financing may not be available upon acceptable terms, or at all. If adequate funds are not available or are not available on acceptable terms, we may not be able to take advantage of prospective new business endeavors or opportunities, which could significantly and materially restrict our business operations.

 

We do not currently engage in enough business activities that provide cash flow. During the next twelve months we anticipate incurring costs related to:

 

  (i) filing of Exchange Act reports, and
  (ii) costs relating to developing our business plan

 

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

 

None.

 

ITEM 4. CONTROLS AND PROCEDURES

 

Evaluation of Disclosure Controls and Procedures

 

As required by Rule 13a-15 under the Securities Exchange Act of 1934, we have carried out an evaluation of the effectiveness of our disclosure controls and procedures as of the end of the period covered by this quarterly report, August 31, 2022. This evaluation was carried out under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer.

 

Disclosure controls and procedures are controls and other procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported, within the time periods specified in the Securities and Exchange Commission’s rules and forms. Disclosure controls and procedures include controls and procedures designed to ensure that information required to be disclosed in our company’s reports filed under the Securities Exchange Act of 1934 is accumulated and communicated to management, including our Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosure.

 

Based upon that evaluation, including our Chief Executive Officer and Chief Financial Officer, we have concluded that our disclosure controls and procedures were ineffective as of the end of the period covered by this report due to a material weakness in our internal control over financial reporting, which is described below.

 

8 
 

 

Management’s Report on Internal Control over Financial Reporting

 

Our management is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Rule 13a-15(f) under the Securities Exchange Act of 1934). Management has assessed the effectiveness of our internal control over financial reporting as of August 31, 2022, based on criteria established in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission. As a result of this assessment, management concluded that, as of August 31, 2022, our internal control over financial reporting was not effective. Our management identified the following material weaknesses in our internal control over financial reporting, which are indicative of many small companies with small staff: (i) inadequate segregation of duties and effective risk assessment; and (ii) insufficient written policies and procedures for accounting and financial reporting with respect to the requirements and application of both US GAAP and SEC guidelines.

 

We plan to take steps to enhance and improve the design of our internal control over financial reporting. During the period covered by this quarterly report on Form 10-Q, we have not been able to remediate the material weaknesses identified above. To remediate such weaknesses, we hope to implement the following changes during our fiscal year ending February 28, 2023: (i) appoint additional qualified personnel to address inadequate segregation of duties and ineffective risk management; and (ii) adopt sufficient written policies and procedures for accounting and financial reporting. The remediation efforts set out in (i) and (ii) are largely dependent upon our securing additional financing to cover the costs of implementing the changes required. If we are unsuccessful in securing such funds, remediation efforts may be adversely affected in a material manner.

 

Changes in Internal Control over Financial Reporting

 

There were no changes in our internal control over financial reporting during the quarter ended August 31, 2022, that have materially affected or are reasonably likely to materially affect, our internal control over financial reporting.

 

9 
 

PART II. OTHER INFORMATION

 

ITEM 1. LEGAL PROCEEDINGS

 

There are not presently any material pending legal proceedings to which the Registrant is a party or as to which any of its property is subject, and no such proceedings are known to the Registrant to be threatened or contemplated against it.

 

ITEM 1A. RISK FACTORS

 

A smaller reporting company is 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

 

None.

 

ITEM 6. EXHIBITS

 

Exhibit Exhibit Description Filed
herewith		 Form Period
ending		 Exhibit Filing
date
31.1 Certification of the Chief Executive Officer and Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 X        
32.1 Certification of the Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 X        
101.INS Inline XBRL Instance Document X        
101.SCH Inline XBRL Taxonomy Extension Schema Document X        
101.CAL Inline XBRL Taxonomy Extension Calculation Linkbase Document X        
101.DEF Inline XBRL Taxonomy Extension Definition Linkbase Definition X        
101.LAB Inline XBRL Taxonomy Extension Label Linkbase Document X        
101.PRE Inline XBRL Taxonomy Extension Presentation Linkbase Document X        
104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) X        

  

 

 

10 
 

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.

 

  ANVI GLOBAL HOLDINGS, INC.
     
Dated: October 17, 2022 By: /s/ Rama Mohan R. Busa
    Rama Mohan R. Busa
    President, Chief Executive Officer, Chief Financial Officer and Chairman of the Board of Directors

 

 

 

 

 

11 
 

 

 

 

Anvi Global (QB) (USOTC:ANVI)
Historical Stock Chart
From Nov 2024 to Dec 2024 Click Here for more Anvi Global (QB) Charts.
Anvi Global (QB) (USOTC:ANVI)
Historical Stock Chart
From Dec 2023 to Dec 2024 Click Here for more Anvi Global (QB) Charts.