$PHCI
Panamera Holdings Corp

2021 Q2 Form 10-K Financial Statement

#000164033422000315 Filed on February 15, 2022

View on sec.gov

Income Statement

Concept 2021 Q2 2021 2020 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue $0.00
YoY Change
Gross Profit $0.00
YoY Change
Gross Profit Margin
Selling, General & Admin $5.110K $90.00K $0.00
YoY Change -48.9% 200.0% -100.0%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $5.105K $90.75K $0.00
YoY Change -2.54% 244.82% -100.0%
Operating Profit -$5.105K -$90.75K
YoY Change -2.54% 244.82%
Interest Expense $1.448K $4.603K $0.00
YoY Change 18.98% -4.22%
% of Operating Profit
Other Income/Expense, Net -$1.448K -$4.603K
YoY Change 18.98% -4.22%
Pretax Income -$6.553K -$95.35K -$10.00K
YoY Change 1.52% 206.36% 0.0%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$6.553K -$95.35K -$10.00K
YoY Change 1.52% 206.36% 0.0%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$364.10 -$4.243K $0.00
COMMON SHARES
Basic Shares Outstanding 39.21M shares
Diluted Shares Outstanding 23.57M shares

Balance Sheet

Concept 2021 Q2 2021 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $160.00 $0.00 $0.00
YoY Change
Cash & Equivalents $162.00 $2.232K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $162.00 $0.00 $2.232K
YoY Change -94.9% 232.64%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00 $0.00
YoY Change -100.0%
TOTAL ASSETS
Total Short-Term Assets $162.00 $0.00 $2.232K
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $162.00 $0.00 $2.232K
YoY Change 232.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.79K $10.00K $6.482K
YoY Change 7.87% 0.0%
Accrued Expenses $15.35K $0.00 $10.00K
YoY Change 53.5% -100.0% 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $120.0K $0.00 $110.0K
YoY Change 19.95% -100.0% 37.5%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $146.1K $20.00K $123.3K
YoY Change 21.74% -83.33% 36.06%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $146.1K $20.00K $123.3K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $146.1K $20.00K $123.3K
YoY Change 21.74% -83.33% 36.06%
SHAREHOLDERS EQUITY
Retained Earnings -$293.5K -$268.6K
YoY Change 13.1%
Common Stock $201.4K $147.5K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$145.9K -$20.00K -$121.1K
YoY Change
Total Liabilities & Shareholders Equity $162.00 $0.00 $2.232K
YoY Change 232.64%

Cashflow Statement

Concept 2021 Q2 2021 2020 Q3
OPERATING ACTIVITIES
Net Income -$6.553K -$95.35K -$10.00K
YoY Change 1.52% 206.36% 0.0%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$16.22K -$99.36K $0.00
YoY Change 62.2% 311.63%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $201.3K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 14.15K $97.14K 10.00K
YoY Change 277.98%
NET CHANGE
Cash From Operating Activities -16.22K -$99.36K 0.000
Cash From Investing Activities
Cash From Financing Activities 14.15K $97.14K 10.00K
Net Change In Cash -2.070K -$2.222K 10.00K
YoY Change -79.3% -242.34%
FREE CASH FLOW
Cash From Operating Activities -$16.22K -$99.36K $0.00
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2021Q3 us-gaap Assets
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CY2021Q3 us-gaap Liabilities
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CY2021Q3 us-gaap Liabilities And Stockholders Equity
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CY2020Q3 us-gaap Liabilities And Stockholders Equity
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CY2021 us-gaap Professional Fees
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CY2020 us-gaap Professional Fees
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CY2020 us-gaap Operating Expenses
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CY2021 us-gaap Operating Income Loss
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CY2020 us-gaap Operating Income Loss
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CY2021 us-gaap Interest Expense
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CY2020 us-gaap Interest Expense
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CY2021 us-gaap Nonoperating Income Expense
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CY2020 us-gaap Nonoperating Income Expense
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CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2020 us-gaap Income Tax Expense Benefit
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CY2021 us-gaap Net Income Loss
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CY2020 us-gaap Net Income Loss
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CY2021 us-gaap Earnings Per Share Basic And Diluted
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CY2020 us-gaap Earnings Per Share Basic And Diluted
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CY2021 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2021 us-gaap Stock Issued During Period Value Other
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CY2021 us-gaap Net Income Loss
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CY2021 us-gaap Increase Decrease In Accounts Payable
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CY2020 us-gaap Increase Decrease In Accounts Payable
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CY2021 us-gaap Increase Decrease In Interest Payable Net
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CY2020 us-gaap Increase Decrease In Interest Payable Net
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CY2021 us-gaap Net Cash Provided By Used In Operating Activities
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CY2021 us-gaap Proceeds From Related Party Debt
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CY2021 us-gaap Payments To Fund Longterm Loans To Related Parties
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CY2021 us-gaap Proceeds From Issuance Of Common Stock
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CY2020 us-gaap Proceeds From Issuance Of Common Stock
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CY2021 us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2020 us-gaap Cash And Cash Equivalents Period Increase Decrease
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1561 USD
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CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2021 us-gaap Interest Paid
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CY2020 us-gaap Interest Paid
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CY2021 us-gaap Income Taxes Paid
IncomeTaxesPaid
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CY2020 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
CY2021 pnht Organization Description Of Business And Going Concern
OrganizationDescriptionOfBusinessAndGoingConcern
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;"><strong>NOTE 1 –</strong> <strong>ORGANIZATION, DESCRIPTION OF BUSINESS AND GOING CONCERN</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">Panamera Holdings Corporation (formerly Panamera Healthcare Corporation, the “Company”) is a Nevada corporation incorporated on May 20, 2014. It is based in Oklahoma City, OK, USA. Effective October 21, 2021, the Company changed its name from Panamera Healthcare Corporation to Panamera Holdings Corporation and increased the number of authorized common stock from 150,000,000 shares of common stock to 550,000,000 shares of common stock, par value $0.0001 per share. The Company’s fiscal year end is July 31.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company intended to offer management and consulting services to healthcare organizations but have redirected our efforts now to pursuing business opportunities including but not limited to the environmental services industry, emerging innovative technologies and individual health choices led by innovation with integration. To date, the Company’s activities have been limited to its formation and the raising of equity capital.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;"><strong><em>Change in Control of Registrant</em></strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">On April 26, 2021, the board of director of the Company approved a security purchase agreement with T. Benjamin Jennings or assignees to sell and issue 21,220,000 shares of the common stock at $201,335 in cash. The issuance of 21,220,000 shares of common stock to T. Benjamin Jennings pursuant to the security purchase agreement representing around 54% of the then issued and outstanding shares of the Company at closing date. The Company received the consideration in full and issued the shares on May 12, 2021.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;"><strong><em>Going Concern</em></strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. As of July 31, 2021, the Company has suffered recurring losses from operations, has an accumulated deficit of $363,996 and has not earned any revenues. The Company intends to fund operations through equity financing arrangements and related party advances, which may be insufficient to fund its capital expenditures, working capital and other cash requirements for the year ending July 31, 2022.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">The ability of the Company to emerge from an early stage is dependent upon, among other things, obtaining additional financing to continue operations, and development of its business plan. In response to these problems, management intends to raise additional funds through public or private placement offerings.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty.</p>
CY2021Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-363996 USD
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">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. The estimates and judgments will also affect the reported amounts for certain expenses during the reporting period. Actual results could differ from these good faith estimates and judgments.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">A novel strain of coronavirus (COVID-19) was first identified in December 2019, and subsequently declared a global pandemic by the World Health Organization on March 11, 2020. As a result of the outbreak, many companies have experienced disruptions in their operations and in markets served. 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 the Company’s ability to identify and/or consummate an acceptable merger or acquisition transaction.</p>
CY2021 pnht Net Loss Per Share Of Common Stock
NetLossPerShareOfCommonStock
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">The Company has adopted ASC Topic 260, “Earnings per Share,” (“EPS”) which requires presentation of basic EPS on the face of the income statement for all entities with complex capital structures and requires a reconciliation of the numerator and denominator of the basic EPS computation. In the accompanying financial statements, basic earnings (loss) per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">The Company has no potentially dilutive securities, such as options or warrants, currently issued and outstanding.</p>
CY2021 pnht Concentrations Of Credit Risk
ConcentrationsOfCreditRisk
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">The Company’s financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and cash equivalents and related party payables that it will likely incur in the near future. The Company places its cash and cash equivalents with financial institutions of high credit worthiness. At times, its cash and cash equivalents with a particular financial institution may exceed any applicable government insurance limits. The Company’s management plans to assess the financial strength and credit worthiness of any parties to which it extends funds, and as such, it believes that any associated credit risk exposures are limited.</p>
CY2021 pnht Financial Instruments And Fair Value Measurements
FinancialInstrumentsAndFairValueMeasurements
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">The Company follows ASC 820, “Fair Value Measurements and Disclosures,” which defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of July 31, 2021 and 2020. The carrying values of our financial instruments, including, cash, accounts payable and accrued liabilities and loans payable from related party approximate their fair values due to the short-term maturities of these financial instruments.</p>
CY2021 pnht Related Party Transactions
RelatedPartyTransactions
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> <strong>NOTE 3 - RELATED PARTY TRANSACTIONS</strong></p><table cellpadding="0" style="border-spacing:0;text-align:justify;font:10pt times new roman;margin-left:auto;margin-right:auto;width:100%"><tbody><tr style="height:15px"><td style="width:4%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:4%;vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><span style="font-family:symbol">·</span></p></td><td style="vertical-align:top;">On July 15, 2014, a corporation controlled by an officer and director committed $75,000 Promissory Note in the form of an unsecured line of credit at an annual interest rate of 5%. On December 31, 2019, the line of credit increased up to $150,000 and was extended to December 31, 2021, and maybe prepaid without penalty. The Company concluded the note modification was not a significant change and is not treating it as an extinguishment. During the years ended July 31, 2021 and 2020, the Company borrowed $14,250 and $25,700 from a corporation controlled by an officer and director, respectively. For the years ended July 31, 2021 and 2020, the Company accrued interest of $4,498 and $4,806, respectively.</td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:30px"> </p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><span style="font-family:symbol">·</span></p></td><td><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On April 26, 2021, the board of directors of the Company approved a security purchase agreement with T.Benjamin  Jennings to sell and issue 21,220,000 shares of common stock at $201,335 in cash (See “Note 1). The Company received the consideration in full and issued the shares on May 12, 2021.</p></td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><span style="font-family:symbol">·</span></p></td><td style="vertical-align:top;">On April 26, 2021, in connection with change of the control (“Note 1”), the Company paid off the principal loan of $120,051 and accrued interest of $15,542. As of July 31, 2021, and 2020, the Company was obligated, for this interest-bearing loan with a balance of $0 and $105,801, and accrued interest of $0 and $11,044, respectively.</td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:30px"> </p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><span style="font-family:symbol">·</span></p></td><td style="vertical-align:top;">During the year ended July 31, 2021, a corporation controlled by a former officer and director, rendered consulting services of $50,000 and related expenses of $1,613 to the Company and was paid.</td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:30px"> </p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><span style="font-family:symbol">·</span></p></td><td style="vertical-align:top;">During the year ended year ended July 31, 2021, the Company’s shareholder financed of $1,608 for operation expenses. As of July 31, 2021, the Company was obliged for an unsecured, none-interest bearing demand loan with balance of $1,608.</td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:30px"> </p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><span style="font-family:symbol">·</span></p></td><td style="vertical-align:top;">The Company does not own or lease property or lease office space. The office space used by the Company was arranged by the founder, who is also the CEO and President, of the Company to use at no charge.</td></tr></tbody></table>
CY2021 pnht Borrowed From Related Party
BorrowedFromRelatedParty
14250 USD
CY2020 pnht Borrowed From Related Party
BorrowedFromRelatedParty
25700 USD
CY2021 us-gaap Interest Expense Other
InterestExpenseOther
4498 USD
CY2020 us-gaap Interest Expense Other
InterestExpenseOther
4806 USD
CY2021Q3 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
363996 USD
CY2020Q3 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
268644 USD
CY2021 pnht Effective Tax Rate
EffectiveTaxRate
21
CY2020 pnht Effective Tax Rate
EffectiveTaxRate
21
CY2021Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
76439 USD
CY2020Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
56415 USD
CY2021Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
76439 USD
CY2020Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
56415 USD
CY2021Q3 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 USD
CY2020Q3 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 USD
CY2021Q3 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
363996 USD
CY2021Q3 us-gaap Preferred Stock Discount On Shares
PreferredStockDiscountOnShares
50000000 USD
CY2021Q3 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0.0001
CY2021Q3 pnht Common Stock Shares Authorized1
CommonStockSharesAuthorized1
150000000 shares
CY2021Q3 pnht Common Stock Par Value
CommonStockParValue
0.0001
CY2021Q2 us-gaap Common Stock Value
CommonStockValue
201355 USD
CY2021Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
39210000 shares
CY2020Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
17990000 shares

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