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The accompanying financial statements have been prepared in conformity with generally accepted accounting principles, which contemplate continuation of the Company as a going concern. We had no revenues for the nine months ended July 31, 2021. We currently have carry forward losses and have not completed our efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time. Therefore, there is substantial doubt about our ability to continue as a going concern. Management anticipates that we will depend, for the near future, on additional investment capital to fund operating expenses. We intend to raise additional funds through the capital markets. In light of management’s efforts, there are no assurances that we will be successful in this or any of our endeavours or become financially viable and continue as a going concern.
Note 10 – SUBSEQUENT EVENTS
On August 16, 2021, the Company effected a name change to “Diamond Holdings, Inc.” and a one-for-two (1:2) reverse stock split (the “Reverse Stock Split”) whereby the Company decreased by a ratio of one-for-two (1:2) the number of its issued and outstanding shares of common stock. All share and per-share data and amounts in this Quarterly Report have been retroactively adjusted as of the earliest period presented in the consolidated financial statements to reflect the Reverse Stock Split.