Global Strategies Discuss the management of INC and analyze the financial position and results of operations.  (form 10-K)

Global Strategies Discuss the management of INC and analyze the financial position and results of operations. (form 10-K)

administration motion plan

The next dialogue incorporates forward-looking statements. Ahead-looking statements give our present expectations or expectations of future occasions. You possibly can decide this information by the truth that it’s not strictly associated to historic or present info. They use phrases reminiscent of “count on,” “estimate,” “count on,” “venture,” “intend,” “plan,” “consider,” and different phrases and phrases with comparable which means in reference to any dialogue of future working or monetary efficiency. Once in a while, we may make forward-looking statements in different supplies we launch to the general public.






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Overview


World Methods Firm is a digital well being and health know-how firm that gives health experiences and options by way of a cellular app obtainable on Apple iOS and Google Android units. Our data-driven wellness platform permits individuals to set and observe health and vitamin targets, combine with wearable health units and supply neighborhood options, permitting customers to compete and assist one another as they work towards their private health and wellness targets. We plan to develop our platform right into a one cease vacation spot for health and wellness, delivering content material and merchandise to our customers based mostly on their particular wants of their private well being and wellness journey.



Current Developments



on me October 22 2022, now we have efficiently terminated a license settlement for sure mental property that we beforehand licensed and have been unable to commercialize. In reference to the termination of the license, we have been in a position to cancel 90,000 shares of issued and excellent Collection B most well-liked inventory and 1.2 million shares of issued and excellent Collection A most well-liked inventory; After the license settlement is terminated.

We now have efficiently negotiated an asset buy settlement modification with
Vitwell Ltd., to take away the financing contingency and speed up the closing of the acquisition of Fitwell’s belongings. From October 18 2022, now we have efficiently accomplished the acquisition of Fitwell’s belongings, which features a copy of the supply code and datasets for a complete well being and health platform. In reference to the acquisition of Fitwell’s belongings, now we have issued a promissory notice for 0.5 million {dollars} It issued 2 million shares of frequent inventory in change for buy, and an extra 2.8 million shares in change for providers rendered, to be rendered sooner or later, for the advantage of the corporate.

Necessary current developments concerning COVID-19

throughout March 2020A world pandemic declared earlier than World Well being Group associated to the fast unfold of a brand new pressure of coronavirus referred to as COVID-19. The epidemic has had a major influence on the financial situations within the nation United State. The long-term influence of COVID-19 on the economic system and our enterprise stays unsure, and its length and extent can’t presently be predicted. Please seek advice from the issues mentioned beneath ‘Threat Elements’.

Operations outcomes in the course of the 12 months ended July 31, 2022 In comparison with the 12 months ended July 31, 2021


Internet Loss


for the previous years July 31, 2022 And 2021 we incurred nearly internet losses $79,000 And the 1.4 million {dollars} Straight.


Income


for the previous years July 31, 2022 And 2021, we did not make any income.


Bills


for the previous years July 31, 2022 And 2021, we nearly incurred bills $79,000 And the 1.4 million {dollars} Straight. drop 1.3 million {dollars} in bills for the 12 months ended July 31, 2022 It was primarily associated to inventory compensation bills roughly 1.3 million {dollars} for the 12 months ending July 31, 2021. for the previous years July 31, 2022 And 2021 we have nearly incurred an curiosity expense $50,000 And the $48000 Primarily in relation to present promissory notes.


Liquidity


At the moment, we rely on our administration to offer us with the required capital to run our enterprise every day.

for the previous years July 31, 2022 And 2021 we incurred nearly internet losses $79,000 And the 1.4 million {dollars} Straight. From July 31, 2022 And 2021, we had no money readily available and no present commitments of $1.0 million And the $0.9 million. Through the previous 12 months July 31, 2022 Our CEO and CFO have offered loans of approx 30 thousand {dollars}.

We are going to search further funds by way of fairness or debt financing, cooperative or different preparations with company companions, licensees or others, and from different sources, which can have the impact of diluting the holdings of present shareholders.






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The Firm has no present preparations with respect to such further funding or its sources and we don’t count on present shareholders to offer any portion of future funding necessities.

No assure might be provided that further financing shall be obtainable when wanted or that such financing shall be obtainable on phrases acceptable to the Firm. Within the occasion that ample funds will not be obtainable, we could also be required to delay or terminate bills for a few of its applications that it could search to develop and commercialize. This can have a fabric unfavourable influence on the Firm.



Going Concern



Our unbiased and registered public accounting workplace report on the monetary statements for the years ended July 31, 2022 and 2021, a clarifying paragraph referring to the uncertainty of our skill to proceed as a going concern. We now have incurred recurring losses, incurred liabilities in extra of belongings over the previous 12 months, and have a collected deficit of 15.5 million {dollars}. Based mostly on present working ranges, we shall be required to lift further capital with a view to proceed our operations July 31, 2023.

Vital accounting insurance policies and use of estimates

Making ready monetary statements in accordance with typically accepted accounting ideas United States of America Administration is required to make estimates and assumptions that have an effect on the reported quantities of belongings and liabilities, the disclosure of contingent belongings and liabilities on the date of the monetary statements and the reported quantities of earnings and bills in the course of the reporting interval. Precise outcomes could differ from these estimates.

Honest worth of economic devices

on me August 1, 2012The Firm, ASC 820, has adopted truthful worth measurements and disclosures. ASC 820 defines truthful worth, establishes a three-tiered valuation hierarchy of truthful worth measurement disclosures and enhances disclosure necessities for truthful worth measurements. The three ranges are outlined as follows:


            ·   Degree 1 inputs to the valuation methodology are quoted costs
                (unadjusted) for equivalent belongings or liabilities in energetic
                markets.
            ·   Degree 2 inputs to the valuation methodology embody quoted costs
                for comparable belongings and liabilities in energetic markets, and inputs
                which are observable for the asset or legal responsibility, both straight or
                not directly, for considerably the total time period of the monetary
                instrument.
            ·   Degree 3 inputs to valuation methodology are unobservable and
                important to the truthful measurement.



Steadiness Sheet Preparations

From July 31, 2022 and 2021, now we have no off-budget preparations as outlined in Part 303(a)(4)(2) of Regulation SK issued beneath the Securities Act of 1934.

Contractual obligations and commitments

From July 31, 2022 And 2021, we did not have any contractual obligations.

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