Filed 2025-03-31 · Period ending 2025-01-31 · 13,005 words · SEC EDGAR
← RPDL Profile · RPDL JSON API
# Rapid Line Inc. (RPDL) — 10-K
**Filed:** 2025-03-31
**Period ending:** 2025-01-31
**Accession:** 0001683168-25-002019
**Source:** [SEC EDGAR](https://www.sec.gov/Archives/edgar/data/1910975/000168316825002019/)
**Origin leaf:** b36c0c61735538bd28ce43cac940355de524e51cf4c2298a08f5fa6e6008e292
**Words:** 13,005
---
**
Table of Contents
**
****
**UNITED STATES**
**SECURITIES AND EXCHANGE
COMMISSION**
**Washington, D.C. 20549**
**FORM 10-K**
**ANNUAL
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**
For the fiscal year ended**January
31, 2025**
**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: **000-56569**
|
RAPID
LINE INC. | |
|
(Exact name of registrant as specified in its charter) | |
|
Wyoming |
|
81-3623646 | |
|
(State or other jurisdiction ofincorporation or organization) |
|
(I.R.S. Employer Identification No.) | |
**51st Floor, T1 Building**
**Qianhai Excellence
No. 1**
**Shenzen, China**
(Address of principal
executive office)
**00000**
Registrants telephone
number, including area code:**+86-15274931919**
Securities registered
pursuant to Section 12(b) of the Act: **None**
Securities registered
pursuant to Section 12(g) of the Act: **Common Stock, $0.0001 par value**
Indicate by check mark
if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes
No
Indicate by check mark
if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes No
Indicate by check mark
whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 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, a 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 check mark 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. Yes
No
Indicate by check mark
whether the registrant has filed a report on and attestation to its managements assessment of the effectiveness of its internal
control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting
firm that prepared or issued its audit report.
If
securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant
included in the filing reflect the correction of an error to previously issued financial statements.
Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation
received by any of the registrant's executive officers during the relevant recovery period pursuant to 240.10D-1(b).
Indicate by check mark
whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes
No
The aggregate market
value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity
was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrants most recently
completed second fiscal quarter was $-0-.
As of March 28, 2025,
there were 3,632,750 shares of the registrants common stock outstanding.
Documents Incorporated
by Reference: **None**
| | | | |
****
**TABLE OF CONTENTS**
****
****
|
|
PART 1 |
| |
|
|
|
| |
|
ITEM 1 |
Description of Business |
1 | |
|
ITEM 1A |
Risk Factors |
1 | |
|
ITEM 1B |
Unresolved Staff comments |
2 | |
|
ITEM 1C |
Cybersecurity |
2 | |
|
ITEM 2 |
Properties |
2 | |
|
ITEM 3 |
Legal Proceedings |
2 | |
|
ITEM 4 |
Mine Safety Disclosures |
2 | |
|
|
|
| |
|
|
PART II |
| |
|
|
|
| |
|
ITEM 5 |
Market for Registrants Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities |
3 | |
|
ITEM 6 |
[Reserved] |
3 | |
|
ITEM 7 |
Managements Discussion and Analysis of Financial Condition and Results of Operations |
3 | |
|
ITEM 7A |
Quantitative and Qualitative Disclosures about Market Risk |
5 | |
|
ITEM 8 |
Financial Statements and Supplementary Data |
5 | |
|
ITEM 9 |
Changes In and Disagreements with Accountants on Accounting and Financial Disclosure |
5 | |
|
ITEM 9A |
Controls and Procedures |
5 | |
|
ITEM 9B |
Other Information |
7 | |
|
ITEM 9C |
Disclosure Regarding foreign Jurisdictions that Prevent Inspections |
7 | |
|
|
|
| |
|
|
PART III |
| |
|
|
|
| |
|
ITEM 10 |
Directors, Executive Officers, Promoters and Control Persons of the Company |
8 | |
|
ITEM 11 |
Executive Compensation |
10 | |
|
ITEM 12 |
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters |
11 | |
|
ITEM 13 |
Certain Relationships and Related Transactions |
11 | |
|
ITEM 14 |
Principal Accountant Fees and Services |
12 | |
|
|
|
| |
|
|
PART IV |
| |
|
|
|
| |
|
ITEM 15 |
Exhibits |
13 | |
|
ITEM 16 |
Form 10-K Summary |
13 | |
| | i | | |
**FORWARD-LOOKING STATEMENTS**
This annual report contains forward-looking statements.
These statements relate to future events or our future financial performance. These statements often can be identified by the use of terms
such as may, will, expect, believe, anticipate, estimate,
approximate or continue, or the negative thereof. We intend that such forward-looking statements be subject
to the safe harbors for such statements. We wish to caution readers not to place undue reliance on any such forward-looking statements,
which speak only as of the date made. Any forward-looking statements represent managements best judgment as to what may occur in
the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond our control that could
cause actual results and events to differ materially from historical results of operations and events and those presently anticipated
or projected. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after
the date of such statement or to reflect the occurrence of anticipated or unanticipated events.
****
****
****
****
****
****
****
****
****
****
****
****
****
****
****
****
****
****
****
****
****
****
****
| | ii | | |
****
**PART I**
****
**Item 1. Description of Business**
**General Information About Our Company**
Rapid Line Inc. is a development-stage
company formed to commence operations concerned with online education. We were incorporated under the laws of the state of Wyoming on
January 10, 2022. We are providing the useful and effective type of online learning service, additional play-based studying in a form
of quiz tool according to a school program available from anywhere using the phone and internet connection. Our online service provides
a high quality, fundamental, comprehensive additional education through our mobile application KIDWIN for Android and iOS
mobile OS. We are offering our services to the children and their parents in Poland and in future in some other European countries on
different languages.
We offer play-based studying that address the
educational and personal development to the children from 7 to 16 years old through purposeful quizzes. Our future consumers require a
mobile phone and internet connection to use our services. Our education app will seek to develop the knowledge of our young consumers
primarily in school program according to their age and grade in the following 10 subjects:
|
|
|
Astronomy; | |
|
|
|
Biology: anatomy, cell and molecular biology, microbiology, genetics, zoology; | |
|
|
|
Chemistry: organic, inorganic, physical and biochemistry; | |
|
|
|
Geography: physical, environmental and political; | |
|
|
|
History; | |
|
|
|
Informatics; | |
|
|
|
Logics; | |
|
|
|
Mathematics: algebra, geometry, calculus, statistics; | |
|
|
|
Physics: thermodynamics and statistical mechanics, quantum mechanics, atomic physics, molecular physics etc.; | |
|
|
|
Religious studies. | |
The links for the KID WIN application:
|
|
|
In Google Play - https://play.google.com/store/apps/details?id=com.kidwin | |
|
|
|
In App Store - https://apps.apple.com/app/kid-win/id1607338471 | |
Our website address is https://kid-win.com/
Our executive and business
office is located at 51st Floor, T1 Building, Qianhai Excellence No. 1, Shenzen, China; our telephone number is +86-15274931919.
**Recent Change in Control**
Effective March 18, 2025,
there occurred a change in control of our company. On such date, pursuant to a stock purchase agreement (the **Change-in-Control
Agreement**), Jiang Jian acquired 2,500,000 shares of our common stock (the **Acquired Shares**)
from Wiktor Moroz. The Acquired Shares represent approximately 68.82% of the outstanding shares of our common stock and constitute voting
control of our company. The total consideration paid by Mr. Jian for the Acquired Shares was $362,315 in cash, the source of which was
his personal funds.
In conjunction with the Change-in-Control
Agreement, on March 18, 2025, Wiktor Moroz resigned as Sole Director, CEO, CFO and Secretary of our company and Jiang Jian was appointed
as the Sole Director, President, Chief Executive Officer and Secretary of our company. There was not a change in the business plan of
our company associated with the change in control. See *Item 13. Certain Relationships and Related Transactions, and Director Independence*.
| | 1 | | |
**Item 1A. Risk Factors.**
As a smaller reporting company, we are not required to provide the
information required by this Item.
**Item 1B. Unresolved Staff Comments.**
Not applicable.
**Item 1C. Cybersecurity.**
We use, store and process
data for and about our customers, employees, partners and suppliers. We have not yet implemented a formal cybersecurity risk management
program designed to identify, assess and mitigate risks from cybersecurity threats to this data, our systems and business operations.
We intend to implement a cybersecurity risk management program before the end of 2025.
**Cyber Risk Management and Strategy**
Under the oversight of the
Board of Directors (since we do not currently have an Audit Committee), we intend to implement and maintain a risk management program
that includes processes for the systematic identification, assessment, management, and treatment of cybersecurity risks. Our cybersecurity
oversight and operational processes would be integrated into our overall risk management processes. We intend to implement a risk-based
approach to the management of cyber threats, supported by cybersecurity technologies, including automated tools, designed to monitor,
identify and address cybersecurity risks. In support of this approach, it is expected that we would have a third-party security consultant
implement processes to assess, identify and manage security risks to our company, including in the pillar areas of security and compliance,
application security, infrastructure security and data privacy. This process, once implemented, would include regular compliance and critical
system access reviews. In addition, we intend to conduct application security assessments, vulnerability management, penetration testing,
security audits and ongoing risk assessments as part of our risk management process.
We expect to utilize third
parties and consultants to assist in the identification and assessment of risks, including to support tabletop exercises and to conduct
security testing. We intend to utilize well-known cloud-based technologies and service providers, such as Amazon AWS, Microsoft Office
and Google enterprise to provide protection against cybersecurity threats.
Further, we intend to put
processes in place that would evaluate potential risks from cybersecurity threats associated with our use of third-party service providers
that would have access to our data, including a review process for such providers cybersecurity practices, risk assessments, contractual
requirement and system monitoring.
Part of our intended program
would be ongoing evaluation and enhancement of our systems, controls and processes where possible, including in response to actual or
perceived threats specific to us or experienced by other companies.
Risks from cybersecurity threats
have, to date, not materially affected us, our business strategy, results of operations or financial condition.
**Item 2. Properties.**
Currently, we own no property.
Our principal executive office is located at 51st Floor, T1 Building, Qianhai Excellence No. 1, Shenzen, China. This office is provided
by sole director and officer, Jiang Jian, at no charge. We believe this office is adequate for our current operations.
****
**Item 3. Legal Proceedings.**
We are not currently a party to any legal proceedings,
and we are not aware of any pending or potential legal actions.
**Item 4. Mine Safety Disclosures.**
Not Applicable.
| | 2 | | |
****
**PART II**
**Item 5. Market for Registrants Common
Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities.**
The trading symbol for our
common stock is RPDL. However, our common stock does not currently trade.
**Registered Holders of our Common Stock**
As of March 28, 2025, there
were approximately 37 record owners of our common stock.
**Dividends**
We have never declared or
paid cash dividends on its common stock, nor do we anticipate paying cash dividends in the foreseeable future.
Recent Sales of Unregistered Securities
During the fiscal year ended
January 31, 2025, we had no sales of unregistered shares.
**Issuer Purchases of Equity Securities**
During the fiscal year ended
January 31, 2025, we did not repurchase any shares of our common stock.
**Item 6. [Reserved]**
**Item 7. Managements Discussion and Analysis
of Financial Condition and Results of Operations**
****
We are a development-stage
corporation with limited operations and no revenues from our business operations. Our independent auditor has issued a going-concern opinion.
This means that our independent auditor believes there is substantial doubt that we can continue as an on-going business for the next
twelve months. We do not anticipate that we will generate significant revenues, until we have obtained sufficient funds to initiate a
marketing program, of which there is no assurance.
**Recent Change in Control**
Effective March 18, 2025,
there occurred a change in control of our company. On such date, pursuant to a stock purchase agreement (the Change-in-Control Agreement),
Jiang Jian acquired 2,500,000 shares of our common stock (the Acquired Shares) from Wiktor Moroz. The Acquired Shares represent approximately
68.82% of the outstanding shares of our common stock and constitute voting control of our company. In conjunction with the Change-in-Control
Agreement, on March 18, 2025, Wiktor Moroz resigned as Sole Director, CEO, CFO and Secretary of our company and Jiang Jian was appointed
as the Sole Director, President, Chief Executive Officer and Secretary of our company. There was not a change in the business plan of
our company associated with the change in control. See *Item 1. Description of Business* and *Item 13. Certain Relationships and
Related Transactions, and Director Independence*.
**Results of Operations**
*Fiscal Year Ended January
31, 2025, Compared to Fiscal Year Ended January 31, 2024*. During the fiscal year ended January 31, 2025, we did not generate any
revenue; during the fiscal year ended January 31, 2024, we generated total revenue of $7,800. Our net loss for the fiscal year ended January
31, 2025, was $27,565 compared to a net loss of $40,247 for the fiscal year ended January 31, 2024.
Expenses incurred were $27,565
during the fiscal year ended January 31, 2025, compared to $48,047 in expenses during the fiscal year ended January 31, 2024.
| | 3 | | |
**Liquidity and Capital Resources**
*At January 31, 2025*.
As of January 31, 2025, we had cash of $36 (in escrow account) and a working capital deficit of $12,391, compared to cash of $4,452 (in
escrow account) and a working capital deficit of $3,875.
At January 31, 2025, our total
assets were $32,541, consisting of mobile application and website development, accumulated amortization and prepaid expenses. As of January
31, 2024, our total assets were $28,761.
**Cash Flows**
*Cash Flows from Operating
Activities*. We have not generated positive cash flows from operating activities. For the fiscal year ended January 31, 2025, net
cash flows used in operating activities was $31,661. For the fiscal year ended January 31, 2024, net cash flows used in operating activities
was $26,317.
*Cash Flows from Financing
Activities*. We have financed our operations primarily from either advances from our former sole executive officer. For the fiscal
year ended January 31, 2025, net cash provided by financing activities was $27,245. For the fiscal year ended January 31, 2024, net cash
from financing activities was $7,700.
**Off-Balance Sheet Arrangements**
We currently have no off-balance
sheet arrangements.
**Going Concern**
Our financial statements have been prepared assuming that we will continue
as a going concern and, accordingly, do not include adjustments relating to the recoverability and realization of assets and classification
of liabilities that might be necessary should we be unable to continue in operation. Our report from our independent registered public
accounting firm for the fiscal year ended January 31, 2025, includes an explanatory paragraph stating our company has recurring losses
and limited operations which raise substantial doubt about its ability to continue as a going concern. If our company is unable to obtain
adequate capital, we may be required to reduce the scope, delay, or eliminate some or all of its planned operations. These factors, among
others, raise substantial doubt about our companys ability to continue as a going concern.
**Critical Accounting Policies**
The discussion and analysis of our financial condition
and results of operations are based upon our financial statements, which have been prepared in accordance with the accounting principles
generally accepted in the United States of America. Preparing financial statements requires management to make estimates and assumptions
that affect the reported amounts of assets, liabilities, and expenses. These estimates and assumptions are affected by managements
application of accounting policies. We believe that understanding the basis and nature of the estimates and assumptions involved with
the following aspects of our financial statements is critical to an understanding of our financial statements.
*Use of Estimates*
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.
| | 4 | | |
**Recent Accounting Pronouncements**
Recent accounting pronouncements issued by the
Financial Accounting Standards Board (FASB), (including its EITF, the AICPA and the SEC), did not or are not believed by
management to have a material effect on our companys present or future financial statements.
**Item 7A. Quantitative and Qualitative Disclosures about Market Risk**
As a smaller reporting company,
we are not required to provide the information required by this Item.
****
**Item 8. Financial Statements and Supplementary Data**
****
Please see our Financial Statements
required by this Item, together with the report thereon of the Independent Registered Public Accounting Firm, beginning on page F-1 of
this Annual Report.
**Item 9. Changes in and Disagreements with Accounting
and Financial Disclosures.**
None.
**Item 9A. Controls and Procedures.**
**Disclosure Controls and Procedures**
Disclosure controls and procedures
are designed to ensure that information required to be disclosed in the reports filed or submitted under the Exchange Act is recorded,
processed, summarized and reported, within the time period specified in the SECs rules and forms, and that such information is
accumulated and communicated to management, including the Chief Executive Officer and Chief Financial Officer, as appropriate, to allow
timely decisions regarding required disclosures. Our management necessarily applied its judgment in assessing the costs and benefits of
such controls and procedures, which, by their nature, can provide only reasonable assurance regarding managements control objectives.
Our management, with the participation
of our Chief Executive Officer, evaluated the effectiveness of the design and operation of our disclosure controls and procedures as of
the end of the period covered by this Report. Based upon this evaluation, our Chief Executive Officer concluded that our disclosure controls
and procedures were not effective because of the identification of a material weakness in our internal control over financial reporting
which is described below.
**Managements Report on Internal Control
Over Financial Reporting**
Our management is responsible for establishing
and maintaining adequate internal control over financial reporting, as such term is defined in Exchange Rule 13a-15(f). Our internal control
over financial reporting is a process designed to provide reasonable assurance to our management and board of directors regarding the
reliability of financial reporting and the preparation of the financial statements for external purposes in accordance with U.S. GAAP.
| | 5 | | |
Our internal control over financial reporting
includes those policies and procedures that (i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly
reflect the transactions and dispositions of our assets; (ii) provide reasonable assurance that transactions are recorded as necessary
to permit preparation of financial statements in accordance with U.S. GAAP and our receipts and expenditures are being made only in accordance
with authorizations of our management and directors; and (iii) provide reasonable assurance regarding prevention or timely detection of
unauthorized acquisition, use, or disposition of our assets that could have a material effect on our financial statements.
Because of its inherent limitations, internal
control over financial reporting may not prevent or detect misstatements. All internal control systems, no matter how well designed, have
inherent limitations, including the possibility of human error and the circumvention of overriding controls. Accordingly, even effective
internal control over financial reporting can provide only reasonable assurance with respect to financial statement preparation. Also,
projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of
changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
Our management assessed the
effectiveness of our internal control over financial reporting as of January 31, 2025. In making this assessment, it used the criteria
set forth by the Committee of Sponsoring Organizations of the Tread way Commission (COSO) in Internal Control-Integrated
Framework (2013). Based on this evaluation, management concluded that that our internal control over financial reporting was not effective
as of January 31, 2025. Our Chief Executive Officer concluded we have a material weakness due to lack of segregation of duties, a limited
corporate governance structure, and a lack of a formal management review process over preparation of financial information. A material
weakness is a deficiency, or a combination of control deficiencies, in internal control over financial reporting such that there is a
reasonable possibility that a material misstatement of our annual or interim financial statements will not be prevented or detected on
a timely basis.
Our size has prevented us from being able to employ
sufficient resources to enable us to have an adequate level of supervision and segregation of duties within our system of internal control.
Therefore, while there are some compensating controls in place, it is difficult to ensure effective segregation of accounting and financial
reporting duties. Management reported the following material weaknesses:
|
|
|
Lack of segregation of duties in certain accounting and financial reporting processes including the initiation, processing, recording and approval of disbursements; | |
|
|
|
| |
|
|
|
Our corporate governance responsibilities are performed by the Board of Directors, none of whom are independent under applicable standards; we do not have an audit committee or compensation committee. Our Board of Directors acts primarily by written consent without meetings which results in several of our corporate governance functions not being performed concurrent (or timely) with the underlying transactions, including evaluation of the application of accounting principles and disclosures. | |
|
|
|
| |
|
|
|
Certain reports that we prepare, and accounting and reporting conclusions reached in connection with the financial statement preparation process are not subjected to a formal review process that includes multiple levels of review and are not submitted timely to the Board of Directors for review or approval; and | |
While we strive to segregate duties as much as
practicable, there is an insufficient volume of transactions at this point in time to justify additional full-time staff. We believe that
this is typical in many development stage companies. We may not be able to fully remediate the material weakness until we commence operations
at which time, we would expect to hire more staff. We will continue to monitor and assess the costs and benefits of additional staffing.
This Annual Report does not include an attestation
report of our registered public accounting firm regarding internal control over financial reporting. Managements report was not
subject to attestation by our registered public accounting firm pursuant to the SEC rules that permit us to provide only managements
report in this Annual Report.
| | 6 | | |
**Changes in Internal Control Over Financial
Reporting**
There were no changes in our internal control
over financial reporting that occurred during the quarter ended January 31, 2025, that has materially affected, or is reasonably likely
to materially affect, our internal control over financial reporting.
**Item 9B. Other Information.**
During the year ended January 31, 2025, no director
or officer of the Company adopted or terminated a Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement,
as each term is defined in Item 408(a) of Regulation S-K.
**Item 9C. Disclosures Regarding Foreign Jurisdictions
that Prevent Inspections.**
Not Applicable.
****
****
****
****
****
****
****
****
****
****
****
****
****
****
****
****
****
****
****
****
****
****
| | 7 | | |
****
**PART III**
**Item 10. Directors, Executive Officers, and
Corporate Governance.**
Directors of the corporation are elected by the
stockholders to a term of 1 (one) year and serve until a successor is elected and qualified. Officers of the corporation are appointed
by the Board of Directors to a term of one year and serves until a successor is duly appointed and qualified, or until he or she is removed
from office. The Board of Directors has no nominating, auditing or compensation committees.
Our executive officer and director, his name,
age, and his positions as of the date of this prospectus are as follows:
|
Name and Address of Executive
Officer and/or Director |
|
Age |
|
Position | |
|
|
|
|
|
| |
|
Jiang Jian
51st Floor, T1 Building
Qianhai Excellence No. 1
Shenzen, China |
|
40 |
|
President, Chief Executive Officer, Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer, Secretary, Treasurer and Sole Director | |
Jiang Jian has held his positions
since March 18, 2025, and is expected to hold them until the next annual meeting of our stockholders. Jiang Jian is currently the Sole
officer and Director and control person of Rapid Line Inc.
Certain information regarding
the background of Mr. Jian is set forth below.
|
|
Jiang Jian, 40, has, since 2023, been a
Director of Changsha Hualuo Media Co., Ltd., where he has lead strategic planning and overseen the companys media operations, managed
cross-functional teams to deliver high-quality media projects and developed innovative marketing campaigns to enhance brand presence.
From 2012 to 2013, he was a Data Collection Specialist for Hengyang Qidong Public Transport Company, where his duties included conducting
comprehensive data collection and analysis to optimize transit operations, providing actionable insights to improve service efficiency
and passenger experience and collaborating with cross-functional teams to implement data-driven solutions. From 2005 to 2012, he was an
Operations Associate for Hunan Expressway Company, where his duties included monitoring and maintaining highway operations to ensure safety
and efficiency. Mr. Jian earned a Bachelors Degree in Business Administration from Hengyang Normal University, Hengyang, Hunan,
China.
Until such time as our level of operations increases,
Mr. Jian will devote not less than 20 hours per week on the business of our company. |
|
****
**Committees of the Board**
Our company currently does
not have nominating, compensation or audit committees or committees performing similar functions, nor does our Company have a written
nominating, compensation or audit committee charter. Our director believes that it is not necessary to have such committees, at this time,
because the functions of such committees can be adequately performed by the sole director.
Our company does not have
any defined policy or procedural requirements for shareholders to submit recommendations or nominations for Directors. The sole director
believes that, given the stage of our development, a specific nominating policy would be premature and of little assistance until our
business operations develop to a more advanced level. Our company does not currently have any specific or minimum criteria for the election
of nominees to the sole director and we do not have any specific process or procedure for evaluating such nominees. The sole director,
will assess all candidates, whether submitted by management or shareholders, and make recommendations for election or appointment.
A shareholder who wishes to
communicate with our sole director may do so by directing a written request addressed to our sole director and officer, at the address
appearing on the first page of this Annual Report.
| | 8 | | |
****
**Corporate Governance**
We promote accountability
for adherence to honest and ethical conduct; endeavors to provide full, fair, accurate, timely and understandable disclosure in reports
and documents that the Company files with the Securities and Exchange Commission (the SEC) and in other public communications made by
our company and strives to be compliant with applicable governmental laws, rules and regulations. We have not, however, formally adopted
a written code of business conduct and ethics that governs our employees, officers and directors, as our company is not required to do
so.
In lieu of an Audit Committee,
our sole director is responsible for reviewing and making recommendations concerning the selection of outside auditors, reviewing the
scope, results and effectiveness of the annual audit of our companys financial statements and other services provided by our companys
independent public accountants. The sole director reviews our company's internal accounting controls, practices and policies.
**Insider Trading Policy**
We have not yet adopted insider
trading policies and procedures, inasmuch as there is currently no trading in our common stock. At such time as trading in our common
stock commences, we intend to adopt insider trading policies governing the purchase, sale and other dispositions of the our companys
securities by directors, officers and employees that are reasonably designed to promote compliance with insider trading laws, rules and
regulations.
**Section 16(a) Beneficial Ownership Reporting
Compliance**
****
Section 16(a) of the Securities
Exchange Act of 1934 requires our companys officers and directors, and persons who own more than ten percent (10%) of a registered
class of our companys equity securities to file reports of ownership and changes in ownership with the SEC. Officers, directors
and greater than ten percent stockholders are required by SEC regulations to furnish us with copies of all Section 16(a) forms they file.
Based solely on our review
of certain reports filed with the SEC pursuant to Section 16(a) of the Securities Exchange Act of 1934, as amended, the reports required
to be filed with respect to transactions in our common stock during the fiscal year ended January 31, 2025, were not timely.
**Code of Business Conduct**
We have not adopted a Code
of Business Conduct within the meaning of Item 406(b) of Regulation S-K.
**Board Committees**
We do not have any Board Committees.
| | 9 | | |
**Item 11. Executive Compensation.**
The table below summarizes the total compensation
earned by each of our named executive Officers (NEOs) for each of the fiscal years listed.
**Summary Compensation Table**
The following table provides
certain information regarding compensation awarded to, earned by or paid to our Chief Executive Officer and the other executive officer
with compensation exceeding $100,000 during the years ended January 31, 2025 and 2024 (each a Named Executive Officer).
|
| |
Fiscal Year | |
| |
| |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
Fiscal
Year
Ended | |
Salary | |
Bonus | |
Stock
Awards | |
Option
Awards |
| |
All Other | |
|
Total |
| |
|
Name and Principal Position | |
| 1/31 | | |
| ($) | |
|
| ($) | |
|
| ($) | |
|
($) |
| |
($) | |
|
($) |
|
|
|
Wiktor Moroz | |
| 2025 | | |
| | |
|
| | |
|
| | |
|
|
|
| |
|
| |
|
|
|
|
|
|
Former Chief Executive Officer and Chief Financial Officer | |
| 2024 | | |
| | |
|
| | |
|
| | |
|
|
|
| |
|
| |
|
|
|
|
|
|
| |
| | | |
| | |
|
| | |
|
| |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
Jiang Jian (1) | |
| 2025 | | |
| | |
|
| | |
|
| | |
|
|
|
| |
|
| |
|
|
|
|
|
|
Chief Executive Officer, President and Chief Financial Officer | |
| 2024 | | |
| | |
|
| | |
|
| | |
|
|
|
| |
|
| |
|
|
|
| |
__________
(1) Mr. Jian did not become an officer of the
Company until March 18, 2025.
**Outstanding Equity Awards**
The table below reflects all
outstanding equity awards made to each Named Executive Officer that were outstanding at January 31, 2025.
|
Name | |
Grant Date | |
Number of Securities Underlying Unexercised Options (#) Exercisable | |
Number of Securities Underlying Unexercised Options (#) Unexercisable | |
Option Exercise Price ($) | |
Option Expiration Date | |
|
| |
| | | |
| | | |
| | | |
| | | |
| | | |
|
Jiang Jian | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | 10 | | |
**Compensation of Directors**
Directors are permitted to receive fixed fees
and other compensation for their services as directors. The Board of Directors has the authority to fix the compensation of directors.
No amounts have been paid to, or accrued to, our director in such capacity.
**Stock Plan**
We have not adopted a stock plan but may do so
in the future.
**Director Independence**
Our securities are not currently traded on any
public exchange and as such, we are not currently subject to corporate governance standards of listed companies, which require, among
other things, that the majority of the board of directors be independent. We are not currently subject to corporate governance standards
defining the independence of our directors, and we have chosen to define an independent director in accordance with the
NASDAQ Global Markets requirements for independent directors.
Under the NASDAQ rules, our current director does
not qualify as an independent director.
| | 11 | | |
**Item 12. Security Ownership of Certain Beneficial
Owners and Management and Related Stockholder Matter.**
****
The
following table lists, as of the date of this Annual Report, the shareholdings of (i) each person owning beneficially 5% or more of our
companys outstanding common stock; (ii) each executive officer of the Company, and (iii) all officers and directors as a group.
Unless otherwise indicated, each owner has sole voting and investment power over his securities. Information relating to beneficial ownership
of securities by our principal shareholders and management is based upon information furnished by each person using beneficial ownership
concepts under the rules of the SEC. Under these rules, a person is deemed to be a beneficial owner of a security if that person has or
shares voting power, which includes the power to vote or direct the voting of the security, or investment power, which includes the power
to vote or direct the voting of the security. The person is also deemed to be a beneficial owner of any security of which that person
has a right to acquire beneficial ownership within 60 days. Under the SEC rules, more than one person may be deemed to be a beneficial
owner of the same securities, and a person may be deemed to be a beneficial owner of securities as to which he or she may not have any
pecuniary beneficial interest. Except as noted below, each person has sole voting and investment power. Except as disclosed herein, we
do not have any outstanding options or other securities exercisable for or convertible into shares of our common stock. Unless otherwise
indicated, the address of each person listed is c/o Rapid Line Inc., 51st Floor, T1 Building, Qianhai Excellence No. 1, Shenzen, China.
|
Name of Beneficial Owner | |
Title of Class | |
Amount and Nature of Beneficial Ownership (1) | |
Percent of Class (2) | |
|
Jiang Jian(3) | |
Common Stock | |
| 2,500,000 | | |
| 68.82% | | |
|
All Officers and Directors as a Group (1 person) | |
Common Stock | |
| 2,500,000 | | |
| 68.82% | | |
|
(1) |
Beneficial ownership is determined in accordance with the
rules of the Securities and Exchange Commission and generally includes voting or investment power with respect to securities. Each
of the beneficial owners listed above has direct ownership of and sole voting power to the shares of the Companys common
stock. |
|
|
(2) |
Based on 3,632,750 shares outstanding as of the date of this Annual Report. |
|
|
(3) |
Officer and director. |
|
****
**Item 13. Certain Relationships and Related
Transactions, and Director Independence.**
**Recent Change in Control**
Effective March 18, 2025,
there occurred a change in control of our company. On such date, pursuant to a stock purchase agreement (the Change-in-Control Agreement),
Jiang Jian acquired 2,500,000 shares of our common stock (the Acquired Shares) from Wiktor Moroz. The Acquired Shares represent approximately
68.82% of the outstanding shares of our common stock and constitute voting control of our company. The total consideration paid by Mr.
Jian for the Acquired Shares was $362,315 in cash, the source of which was his personal funds.
In conjunction with the Change-in-Control
Agreement, on March 18, 2025, Wiktor Moroz resigned as Sole Director, CEO, CFO and Secretary of our company and Jiang Jian was appointed
as the Sole Director, President, Chief Executive Officer and Secretary of our company. There was not a change in the business plan of
our company associated with the change in control. See *Item 1. Description of Business*.
**Sale of Common Stock**
In January 2022, we issued
2,500,000 shares of our common stock to our former sole director and officer, Wiktor Moroz, in consideration of services provided on behalf
of our company, which shares were valued at $250, in the aggregate.
| | 12 | | |
**Item 14. Principal Accountant Fees and Services.**
**Fees Paid to Independent Registered Public Accounting Firm**
Set forth below is a summary of
certain fees paid to our Independent Registered Public Accounting Firm, DylanFloyd Accounting & Consulting, for services rendered
during the fiscal years ended January 31, 2025 and 2024, respectively.
|
Fee Category | |
Fiscal Year 2025 | |
Fiscal Year 2024 | |
|
Audit Fees | |
$ | 24,500 | | |
$ | 9,700 | | |
|
Tax Fees | |
| | | |
| | | |
|
All Other Fees | |
| | | |
| | | |
|
Total | |
$ | 24,500 | | |
$ | 9,700 | | |
**Audit Fees**
Audit fees were for professional
services rendered in connection with the audit of our annual financial statements set forth in our Annual Reports on Form 10-K, the review
of our quarterly financial statements set forth in our Quarterly Reports on Form 10-Q and consents for other SEC filings.
**Audit-Related Fees**
Audit-related fees consist
of fees billed for professional services for consultation on accounting matters.
**Approval of Services Provided by Independent
Registered Public Accounting Firm**
The Board of Directors has
considered whether the services provided under other non-audit services are compatible with maintaining the auditors independence
and has determined that such services are compatible. The Board of Directors has adopted policies and procedures for pre-approving all
non-audit work performed by the external auditors. The Board of Directors will annually pre-approve services in specified accounting areas.
The Board of Directors also annually approves the budget for the annual generally accepted accounting principles (GAAP) audit.
****
| | 13 | | |
****
**PART IV**
**Item 15. Exhibit and Financial Statement Schedules.**
|
(a) |
(1) |
Financial Statements | |
|
|
|
| |
|
|
|
The following are filed as part of this Annual Report: | |
|
|
|
| |
|
|
|
The Financial Statements of Rapid Line Inc. at January 31, 2025 and 2024, and for each of the two fiscal years ended January 31, 2025 and 2024, respectively, together with the reports of the Independent Registered PublicAccounting Firms, are set forth beginning on page F-1of this Annual Report. | |
|
|
|
| |
|
|
(2) |
Not applicable. | |
|
|
|
| |
|
|
(3) |
Exhibits | |
|
|
31.1 # |
|
Certification
of the Chief Executive Officer and Chief Financial Officer pursuant to Section 302 of Sarbanes-Oxley Act of 2002 | |
|
|
32.1 # |
|
Certification of the Companys Principal Executive Officer and Principal Financial Officer to Section 906 of the Sarbanes-Oxley Act of 2002 | |
|
|
101. INS |
|
Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document) | |
|
|
101. SCH |
|
Inline XBRL Taxonomy Extension Schema Document | |
|
|
101. CAL |
|
Inline XBRL Taxonomy Extension Calculation Linkbase Document | |
|
|
101. DEF |
|
Inline XBRL Taxonomy Extension Definition Linkbase Document | |
|
|
101. LAB |
|
Inline XBRL Taxonomy Extension Label Linkbase Document | |
|
|
101. PRE |
|
Inline XBRL Taxonomy Extension Presentation Linkbase Document | |
|
|
104 |
|
Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
# Filed herewith.
(1) Incorporated by reference from the Companys
Registration Statement on Form S-1, SEC File No. 333-263739.
**Item 16. Form 10-K Summary**.
None.
| | 14 | | |
****
**SIGNATURES**
Pursuant to the requirements of Section 13 or
15(d) 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 on March 31, 2025.
|
RAPID LINE INC. |
| |
|
|
|
| |
|
By: |
/s/ Jiang
Jian |
| |
|
|
Jiang
Jian |
| |
|
|
Chief Executive Officer |
| |
Pursuant to the requirements of the Securities
Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities indicated
on March 31, 2025.
|
Signature |
|
Title | |
|
|
| |
|
/s/
Jiang Jian |
|
Chief Executive
Officer, President, Chief Financial Officer, | |
|
Jiang
Jian |
|
Principal Financial Officer and Principal Accounting Officer and
Sole Director | |
****
| | 15 | | |
****
****
**INDEX TO FINANCIAL STATEMENTS**
**RAPID LINE INC.**
**TABLE OF CONTENTS**
|
Report of
Independent Registered Public Accounting Firm |
|
F-2 | |
|
|
|
| |
|
Balance Sheets as of January 31, 2025 and January 31, 2024 |
|
F-4 | |
|
|
|
| |
|
Statement of Operations for the Years ended January 31, 2025 and 2024 |
|
F-5 | |
|
|
|
| |
|
Statements of Stockholders Deficit for the Years ended January 31, 2025 and 2024 |
|
F-6 | |
|
|
|
| |
|
Statements of Cash Flows for the Years ended January 31, 2025 and 2024 |
|
F-7 | |
|
|
|
| |
|
Notes to the Audited Financial
Statements |
|
F-8 | |
****
****
****
****
****
****
****
****
****
****
****
****
****
****
****
****
| | F-1 | | |
****
****
****
****
**Report of Independent Registered Public Accounting
Firm**
**To the Shareholders and the Board of Directors**
**Rapid Line Inc.**
****
**Opinion on the Financial Statements**
We have audited the accompanying
balance sheet of **Rapid Line Inc.**(the "Company") as of January 31, 2025 and 2024, the related statements of operations,
changes in stockholders' deficit, for each of the two years in the period ended January 31, 2025 and
the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present
fairly, in all material respects, the financial position of the Company as of January 31, 2025 and 2024 and the results of its operations
and its cash flows for each of the two years ended January 31, 2025, in conformity with accounting principles generally accepted in the
United States of America.
**Going Concern Uncertainty**
****
The Company's financial statements
are prepared using the generally accepted accounting principles applicable to a going concern, which contemplates the realization of assets
and liquidation of liabilities in the normal course of business. The Company has an accumulated deficit of $90,733 and a negative cash
flow from operations amounting to $27,565 for the period ended January 31, 2025. These factors as discussed in Note 2 of the financial
statements raise substantial doubt about the Company's ability to continue as a going concern. Management's plans in regard to these matters
are also described in Note 2. The financial statements do not include any adjustments that might result from the outcome of these uncertainties.
**Basis for Opinion**
These financial statements are the
responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on
our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB")
and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable
rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance
with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were
we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding
of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal
control over financial reporting. Accordingly, we express no such opinion.
Our audits included performing procedures
to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that
respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial
statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as
evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.
| | F-2 | | |
**Critical Audit Matters**
****
Critical audit matters arising from
the current period audit of the financial statements that were communicated or required to be communicated to the audit committee and
that (1) relate to accounts or disclosure that are material to the financial statements and (2) involve especially challenging, subjective,
or complex judgements. The communication of critical audit matters does not alter in any way our opinion on the financial statements,
taken as a whole, and we are not, by communicating the critical audit maters below, providing separate opinions on the critical audit
matters or on the accounts or disclosures to which they relate.
**Related
Party Loans**
****
We noted significant related party transactions
as a critical matter.
We performed the following procedures
to address the matter such as, confirmation of those related party transactions, risk assessment of the nature of the related party transactions,
review of the recent minutes of meetings of stockholders, directors, and committees, review of the presence of any significant journal
entries and other adjustments and Inquiry with management of any undisclosed related party contract.
/s/ *DylanFloyd Accounting & Consulting*
PCAOB # 6235
We have served as the Company's
auditor since 2023.
Newhall,
California
March 28, 2025
****
****
****
****
****
****
****
****
****
****
****
****
****
****
****
****
****
****
****
****
****
| | F-3 | | |
****
**RAPID LINE INC.**
**BALANCE SHEETS**
|
| |
January 31, 2025 | |
January 31, 2024 | |
|
| |
| |
| |
|
ASSETS | |
| | | |
| | | |
|
Current Assets | |
| | | |
| | | |
|
Escrow Account | |
$ | 36 | | |
$ | 4,452 | | |
|
Prepaid Expenses | |
| 53 | | |
| 53 | | |
|
Total Current Assets | |
| 89 | | |
| 4,505 | | |
|
| |
| | | |
| | | |
|
Non-Current Intangible Assets | |
| | | |
| | | |
|
Mobile Application and Website Development | |
| 41,000 | | |
| 41,000 | | |
|
Accumulated Depreciation | |
| (8,548 | ) | |
| (16,744 | ) | |
|
Total Non-Current Intangible Assets | |
| 32,452 | | |
| 24,256 | | |
|
| |
| | | |
| | | |
|
Total Assets | |
$ | 32,541 | | |
$ | 28,761 | | |
|
| |
| | | |
| | | |
|
LIABILITIES | |
| | | |
| | | |
|
| |
| | | |
| | | |
|
Current Liabilities | |
| | | |
| | | |
|
Interest Payable | |
$ | 12,480 | | |
$ | 8,380 | | |
|
Total Current liabilities | |
| 12,480 | | |
| 8,380 | | |
|
| |
| | | |
| | | |
|
Long term liabilities | |
| | | |
| | | |
|
Director Loan | |
| 46,890 | | |
| 19,644 | | |
|
Promissory Note | |
| 41,000 | | |
| 41,000 | | |
|
Total long term liabilities | |
| 87,890 | | |
| 60,644 | | |
|
| |
| | | |
| | | |
|
Total Liabilities | |
| 100,370 | | |
| 69,024 | | |
|
| |
| | | |
| | | |
|
Stockholders Deficit | |
| | | |
| | | |
|
Common stock, $0.0001 par value, 75,000,000 shares authorized; 3,632,750 shares issued and outstanding January 31, 2025 and January 31, 2024 respectively; | |
| 364 | | |
| 364 | | |
|
Additional paid-in-capital | |
| 22,542 | | |
| 22,542 | | |
|
Accumulated deficit | |
| (90,733 | ) | |
| (63,168 | ) | |
|
Total Stockholders Deficit | |
| (67,828 | ) | |
| (40,263 | ) | |
|
| |
| | | |
| | | |
|
Total Liabilities and Stockholders Deficit | |
$ | 32,541 | | |
$ | 28,761 | | |
See accompanying notes, which are an integral part
of these financial statements
****
| | F-4 | | |
****
**RAPID LINE INC.**
**STATEMENTS OF OPERATIONS**
|
| |
For the years ended January 31, 2025 | |
For the years ended January 31, 2024 | |
|
| |
| |
| |
|
REVENUE (Banner advertisement) | |
$ | | | |
$ | 7,800 | | |
|
| |
| | | |
| | | |
|
OPERATING EXPENSES | |
| | | |
| | | |
|
General and Administrative Expenses | |
| 27,565 | | |
| 48,047 | | |
|
TOTAL OPERATING EXPENSES | |
| 27,565 | | |
| 48,047 | | |
|
| |
| | | |
| | | |
|
NET INCOME (LOSS) FROM OPERATIONS | |
| (27,565 | ) | |
| (40,247 | ) | |
|
| |
| | | |
| | | |
|
PROVISION FOR INCOME TAXES | |
| | | |
| | | |
|
| |
| | | |
| | | |
|
NET INCOME (LOSS) | |
$ | (27,565 | ) | |
$ | (40,247 | ) | |
|
| |
| | | |
| | | |
|
NET LOSS PER SHARE; BASIC AND DILUTED | |
$ | (0.00 | ) | |
$ | (0.00 | ) | |
|
| |
| | | |
| | | |
|
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED | |
| 3,632,750 | | |
| 3,616,577 | | |
See accompanying notes, which are an integral part
of these financial statements
****
****
****
****
****
****
****
****
****
****
****
****
****
****
****
****
| | F-5 | | |
****
**RAPID LINE INC.**
**STATEMENT OF STOCKHOLDERS DEFICIT**
**FOR THE YEARS ENDED JANUARY 31, 2025 & JANUARY
31, 2024**
****
|
| |
| | | |
| | | |
| | | |
| | | |
| | | |
|
| |
| Common
Stock | | |
| Additional
Paid-in | | |
| Deficit
Accumulated during the Development | | |
| Total
Stockholders | | |
|
| |
| Shares | | |
| Amount | | |
| Capital | | |
| Stage | | |
| Deficit | | |
|
| |
| | | |
| | | |
| | | |
| | | |
| | | |
|
Inception, January 10, 2022 | |
| | | |
$ | | | |
$ | | | |
$ | | | |
$ | | | |
|
| |
| | | |
| | | |
| | | |
| | | |
| | | |
|
Shares issued for cash at $0.0001 per share on January 10, 2022 | |
| 2,500,000 | | |
| 250 | | |
| | | |
| | | |
| 250 | | |
|
| |
| | | |
| | | |
| | | |
| | | |
| | | |
|
Net loss for the year ended January 31, 2022 | |
| | | |
| | | |
| | | |
| (731 | ) | |
| (731 | ) | |
|
| |
| | | |
| | | |
| | | |
| | | |
| | | |
|
Balance, January 31, 2022 | |
| 2,500,000 | | |
$ | 250 | | |
$ | | | |
$ | (731 | ) | |
$ | (481 | ) | |
|
| |
| | | |
| | | |
| | | |
| | | |
| | | |
|
Shares issued for cash at $0.02 per share in July, 2022 | |
| 167,500 | | |
| 167 | | |
| 3,333 | | |
| | | |
| 3,350 | | |
|
| |
| | | |
| | | |
| | | |
| | | |
| | | |
|
Shares issued for cash at $0.02 per share in October, 2022 | |
| 625,250 | | |
| 625 | | |
| 15,776 | | |
| | | |
| 12,505 | | |
|
| |
| | | |
| | | |
| | | |
| | | |
| | | |
|
Shares issued for cash at $0.02 per share in January, 2023 | |
| 275,000 | | |
| 28 | | |
| 21,248 | | |
| | | |
| 21,276 | | |
|
| |
| | | |
| | | |
| | | |
| | | |
| | | |
|
Net loss for the period ending January 31, 2023 | |
| | | |
| | | |
| | | |
| (22,190 | ) | |
| (22,190 | ) | |
|
| |
| | | |
| | | |
| | | |
| | | |
| | | |
|
Balance, January 31, 2023 | |
| 3,567,750 | | |
$ | 357 | | |
$ | 21,248 | | |
$ | (22,921 | ) | |
$ | (1,316 | ) | |
|
| |
| | | |
| | | |
| | | |
| | | |
| | | |
|
Shares issued for cash at $0.02 per share in April, 2023 | |
| 65,000 | | |
| 7 | | |
| 22,542 | | |
| | | |
| 22,549 | | |
|
| |
| | | |
| | | |
| | | |
| | | |
| | | |
|
Net loss for the period ending January 31, 2024 | |
| | | |
| | | |
| | | |
| (40,247 | ) | |
| (40,247 | ) | |
|
| |
| | | |
| | | |
| | | |
| | | |
| | | |
|
Balance, January 31, 2024 | |
| 3,632,750 | | |
$ | 364 | | |
$ | 22,542 | | |
$ | (63,168 | ) | |
$ | (40,263 | ) | |
|
| |
| | | |
| | | |
| | | |
| | | |
| | | |
|
Net loss for the period ending January 31, 2025 | |
| | | |
| | | |
| | | |
| (27,565 | ) | |
| (27,565 | ) | |
|
| |
| | | |
| | | |
| | | |
| | | |
| | | |
|
Balance, January 31, 2025 | |
| 3,632,750 | | |
$ | 364 | | |
$ | 22,542 | | |
$ | (90,733 | ) | |
$ | (67,828 | ) | |
See accompanying notes, which are an integral part
of these financial statements
| | F-6 | | |
****
**RAPID LINE INC.**
**STATEMENTS OF CASH FLOWS**
|
| |
For the year ended January 31, 2025 | |
For the year ended January 31, 2024 | |
|
CASH FLOWS FROM OPERATING ACTIVITIES | |
| | | |
| | | |
|
Net income (loss) | |
$ | (27,565 | ) | |
$ | (40,247 | ) | |
|
Adjustment to reconcile net income (loss) to cash provided by operating activities | |
| | | |
| | | |
|
Interest payable | |
| 4,100 | | |
| 4,100 | | |
|
Accumulated amortization | |
| (8,196 | ) | |
| 8,196 | | |
|
Prepaid Expenses | |
| | | |
| 1,634 | | |
|
CASH FLOWS USED IN OPERATING ACTIVITIES | |
| (31,661 | ) | |
| (26,317 | ) | |
|
| |
| | | |
| | | |
|
CASH FLOWS FROM FINANCING ACTIVITIES | |
| | | |
| | | |
|
Proceeds from sale of common stock | |
| | | |
| 1,300 | | |
|
Promissory Note | |
| | | |
| | | |
|
Related Party Loans | |
| 27,245 | | |
| 6,400 | | |
|
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES | |
| 27,245 | | |
| 7,700 | | |
|
| |
| | | |
| | | |
|
Net increase in cash and equivalents | |
| (4,416 | ) | |
| (18,617 | ) | |
|
Cash and equivalents at beginning of the period | |
| 4,452 | | |
| 23,069 | | |
|
Cash and equivalents at end of the period | |
$ | 36 | | |
$ | 4,452 | | |
|
| |
| | | |
| | | |
|
Supplemental cash flow information: | |
| | | |
| | | |
|
Cash paid for: | |
| | | |
| | | |
|
Interest | |
$ | | | |
$ | | | |
|
Taxes | |
$ | | | |
$ | | | |
See accompanying notes, which are an integral part
of these financial statements
| | F-7 | | |
****
**RAPID LINE INC.**
**NOTES TO THE AUDITED FINANCIAL STATEMENTS**
**FOR THE YEARS ENDED JANUARY 31, 2025 and 2024**
****
****
**Note 1 ORGANIZATION AND NATURE OF
BUSINESS**
RAPID LINE INC. (referred as the Company,
we, our) is a development stage company formed to commence operations concerned with online education. We
were incorporated under the laws of the state of Wyoming on January 10, 2022. Since our formation, we have been engaged in the business
of the development, marketing and business process analysis, problem solving and general business services. We have purchased a website
and a working prototype of online services mobile platform application known as KIDWIN.
Our principal executive and business office is located
at 51st Floor, T1 Building, Qianhai Excellence No. 1, Shenzen, China, and our telephone number is +86-15274931919.
**Note 2 GOING CONCERN**
The accompanying financial statements have been
prepared in conformity with generally accepted accounting principles in the United States of America (GAAP), which contemplate
continuation of the Company as a going concern. The Company has an accumulated deficit of $90,733 as of January 31, 2025. The Company
currently has losses and has not completed its 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 the Companys ability to continue as a going concern.
Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses.
The Company intends to position itself so that it will be able to raise additional funds through the capital markets. In light of managements
efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and
continue as a going concern.
**Note 3 SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES**
**Basis of presentation**
The accompanying financial statements have been
prepared in accordance with generally accepted accounting principles in the United States of America. The Companys year-end is
January 31.
**Revenue**
In accordance with ASC 606, revenue is measured
based on a consideration specified with a customer and recognized when we satisfy the performance obligation specified with a customer.
During the years ended January 31, 2025 and 2024, we did not generate any
revenue.
**Use of Estimates**
The preparation of financial statements in conformity
with US GAAP 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 the financial statements and the reported amount of revenues and expenses during the
reporting period. Actual results could differ from those estimates.
| | F-8 | | |
**Fair Value of Financial Instruments**
FASB ASC Topic 820,*"Fair Value Measurement,"*defines
fair value as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous
market for the asset or liability in an orderly transaction between market participants on the measurement date. The standards apply to
recurring and nonrecurring fair value measurements of financial and non-financial assets and liabilities. The Company determines the fair
values of its assets and liabilities based on a fair value hierarchy that includes three levels of inputs that may be used to measure
fair value.
The three levels are defined as follows:
|
Level 1: |
defined as observable inputs such as quoted prices in active markets; | |
|
Level 2: |
defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and | |
|
Level 3: |
defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. | |
Due to its short-term nature, the carrying value
of cash, director loans and issuance of common stock approximated fair value at January 31, 2025 and 2024.
**Income Taxes**
The Company is a C Corporation under the Internal
Revenue Code and a similar section of the state code.
All income tax amounts reflect the use of the
liability method under accounting for income taxes. Income taxes are provided for the tax effects of transactions reported in the financial
statements and consist of taxes currently due plus deferred taxes arising primarily from differences between financial and tax reporting
purposes. Current year expense represents the amount of income taxes paid, payable or refundable for the period.
Deferred income taxes, net of appropriate valuation
allowances, are determined using the tax rates expected to be in effect when the taxes are actually paid. Valuation allowances are recorded
against deferred tax assets when it is more likely than not that such assets will not be realized. When an uncertain tax position meets
the more likely than not recognition threshold, the position is measured to determine the amount of benefit or expense to recognize in
the financial statements.
The Companys income tax returns are subject
to review and examination by federal, state and local governmental authorities. As of January 31, 2025, our January 31, 2024, tax return
was open to examination with federal, state and local governmental authorities. To the extent penalties and interest are incurred through
an examination, they would be included as part of operations in the statement of operations.
**Long-Lived Assets Intangible Assets**
We account for our intangible assets in accordance
with ASC Subtopic 350-30, General Intangibles Other Than Goodwill, and ASC Subtopic 360-10-05, Accounting for the Impairment or Disposal
of Long-Lived Assets. ASC Subtopic 350-30 requires assets to be measured based on the fair value of the consideration given or the fair
value of the assets (or net assets) acquired, whichever is more clearly evident and, thus, more reliably measurable. Further, ASC Subtopic
350-30 requires an intangible asset to be amortized over its useful life and for the useful life to be evaluated every reporting period
to determine whether events or circumstances warrant a revision to the remaining period of amortization. If the estimate of useful life
is changed the remaining carrying amount of the intangible asset is amortized prospectively over the revised remaining useful life. Costs
of internally developing, maintaining, or restoring intangible assets are recognized as an expense when incurred.
**Basic Income (Loss) Per Share**
The Company computes income (loss) per share in accordance
with FASB ASC 260 Earnings per Share. Basic loss per share is computed by dividing net income (loss) available to common
shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect
to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if
their effect is anti-dilutive. As of January 31, 2025 and 2024, there were no potentially dilutive debt or equity instruments issued or
outstanding.
| | F-9 | | |
**Comprehensive Income**
Comprehensive income is defined as all changes
in stockholders deficit, exclusive of transactions with owners, such as capital investments. Comprehensive income includes net
income or loss, changes in certain assets and liabilities that are reported directly in equity such as translation adjustments on investments
in foreign subsidiaries and unrealized gains (losses) on available-for-sale securities. As of January 31, 2025 were no differences between
our comprehensive loss and net loss.
**Recent Accounting Pronouncements**
We have reviewed all the recently issued, but
not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company.
****
**Note 4 COMMON STOCK**
The Company has 75,000,000, $0.0001 par value
shares of common stock authorized.
On January 10, 2022 the Company issued 2,500,000
shares of common stock to a director for services rendered estimated to be $250 at $0.0001 per share.
In July, the Company issued 167,500 common shares
to few individuals at $0.02 per share in consideration of $3,350.
There were 2,667,500 shares of common stock issued
and outstanding as of July 31, 2022.
In October, the Company issued 625,250 common
shares to few individuals at $0.02 per share in consideration of $12,505.
There were 3,292,750 shares of common stock issued
and outstanding as of October 31, 2022.
In January, the Company issued 275,000 common
shares to few individuals at $0.02 per share in consideration of $5,500.
There were 3,567,750 shares of common stock issued
and outstanding as of January 31, 2023.
In April, the Company issued 65,000 common shares
to few individuals at $0.02 per share in consideration of $1,300.
There were 3,632,750 shares of common stock issued
and outstanding as of January 31, 2025.
| | F-10 | | |
*Voting Common Stock*
All shares of common stock have voting rights
and are identical. All holders of shares of voting common stock shall at every meeting of the stockholders be entitled to one vote for
each share of the capital stock held by such stockholder.
*Non-voting Common Stock*
All of the other terms of the Non-Voting Common
Stock shall be identical to the Voting Common Stock, except for the right of first refusal that attaches to the Non-Voting Common Stock,
as explained in the Companys Bylaws.
**Note 5 COMMITMENTS AND CONTINGENCIES**
In the normal course of business, the Company
may become a party to litigation matters involving claims against it. At January 31, 2025, there are no current matters that would have
a material effect on the Companys financial position or results of operations.
The extent of the impact of the coronavirus (COVID-19)
outbreak on the financial performance of the Company will depend on future developments, including the duration and spread of the outbreak
and related advisories and restrictions and the impact of COVID-19 on the overall economy, all of which are highly uncertain and cannot
be predicted. If the overall economy is impacted for an extended period, the Companys future operating results may be materially
and adversely affected.
**Note 6 INTANGIBLE ASSETS**
The Company purchased and possesses an
asset in a form of the website and mobile application concerned with online education. The Company purchased the website and
mobile application for $41,000 and is amortizing the asset straight-line over its five year useful life or $8,200 per year.
Balances as of January 31, 2025 and January 31,
2024 are as follows:
|
Schedule of intangible assets | |
| |
| |
|
| |
January 31, 2025 | |
January 31, 2024 | |
|
| |
| |
| |
|
Intangible Assets Purchased | |
$ | 41,000 | | |
$ | 41,000 | | |
|
Accumulated Amortization | |
| (8,548 | ) | |
| (16,744 | ) | |
|
Net Book Value | |
$ | 32,452 | | |
$ | 24,256 | | |
**Note 7 RELATED PARTY TRANSACTIONS**
Mr. Moroz currently devotes approximately thirty hours per week to
manage our affairs.
The sole officer and director, Wiktor Moroz, is
the only related party with whom the Company had transactions with during the period from inception on January 10, 2022 through January
31, 2025. During the year ended January 31, 2025, Mr. Moroz paid $46,890 for operating expenses on behalf of the Company. The amounts
due to the related party are unsecured and non-interest bearing with no set terms of repayment.
| | F-11 | | |
**Note 8 INCOME TAXES**
As of January 31, 2025, the Company had net operating
loss carry forwards of approximately $19,054 that may be available to reduce future years' taxable income in varying amounts through 2041.
Future tax benefits which arise as a result of
these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly,
the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards.
The 21% tax rate provision for Federal income
tax consists of the following:
|
Schedule of income tax expense | |
| |
| |
|
| |
January 31, 2025 | |
January 31, 2024 | |
|
Federal income tax benefit attributable to: | |
| | | |
| | | |
|
Current operations | |
$ | (19,054 | ) | |
$ | (13,265 | ) | |
|
Related party accruals | |
| | | |
| | | |
|
Less: change in valuation allowance | |
| 19,054 | | |
| 13,265 | | |
|
Net provision for Federal income taxes | |
$ | | | |
$ | | | |
The cumulative tax effect at the expected rate of 21% of significant
items comprising our net deferred tax amount is as follows:
|
Schedule of deferred tax asset | |
January 31, 2025 | |
January 31, 2024 | |
|
| |
| |
| |
|
Deferred tax asset attributable to: | |
| | | |
| | | |
|
Net operating loss carryover | |
$ | 5,789 | | |
$ | 8,452 | | |
|
Related party accruals | |
| | | |
| | | |
|
Less: valuation allowance | |
| (5,789 | ) | |
| (8,452 | ) | |
|
Net deferred tax asset | |
$ | | | |
$ | | | |
****
**Note 9 SUBSEQUENT EVENTS**
**Change in Control**
Effective March 18, 2025, there occurred a change
in control of the Company. On such date, pursuant to a stock purchase agreement (the **Change-in-Control Agreement**),
Jiang Jian acquired 2,500,000 shares of the Companys common stock (the **Acquired Shares**) from Wiktor
Moroz. The Acquired Shares represent approximately 68.82% of the outstanding shares of the Companys common stock and constitute
voting control of the Company. The total consideration paid by Mr. Jian for the Acquired Shares was $362,315 in cash, the source of which
was his personal funds.
In conjunction with the Change-in-Control Agreement,
on March 18, 2025, Wiktor Moroz resigned as Sole Director, CEO, CFO and Secretary of the Company and Jiang Jian was appointed as the Sole
Director, President, Chief Executive Officer and Secretary of the Company. There was not a change in the business plan of the Company
associated with the change in control.
**Other**
In accordance with SFAS 165 (ASC 855-10) the Company
has analyzed its operations subsequent to January 31, 2025 to the date these financial statements were issued and has determined that
it does not have any material subsequent events to disclose in these financial statements.
| | F-12 | | |