RCMW Group, Inc.

CIK:0001797956|SEC Filings

Interim Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2021	Jan. 31, 2020
Income Statement [Abstract]
Revenues, net of discounts	$ 282,987		$ 3,638,568
Cost of Goods Sold, net	116,090		2,925,321
Inventory write-down	688,973		688,973
Gross Profit (Loss)	(522,076)		24,274
Expenses:
Selling, General, and Administrative	619,917	81,220	1,141,882	292,449
Total Expenses	619,917	81,220	1,141,882	292,449
Loss From Operations	(1,141,993)	(81,220)	(1,117,608)	(292,449)
Other Income (Expenses)
Interest	(55,629)		(68,924)
Total Other Income (Expenses)	(55,629)		(68,924)
Loss Before Income Taxes	(1,197,622)	(81,220)	(1,186,532)	(292,449)
Income Tax Expense
Net Comprehensive Loss	$ (1,197,622)	$ (81,220)	$ (1,186,532)	$ (292,449)
Net Loss per share - basic and diluted	$ (0.12)	$ (0.02)	$ (0.14)	$ (0.07)
Weighted average number of shares outstanding - basic and diluted	9,838,657	4,932,516	8,584,894	4,411,769

Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2021	Jan. 31, 2020	Apr. 30, 2020
Operating activities
Net Loss	$ (1,197,622)	$ (81,220)	$ (1,186,532)	$ (292,449)	$ (353,875)
Non-Cash Transactions
Depreciation and amortization	3,083		7,414
Interest expense	55,629		68,924
Inventory write-down	688,973		688,973
Shares to be issued - services rendered				45,000
Changes in operating assets and liabilities:
Accounts receivable	1,105,261		(188,409)
Prepaid expenses and other current assets	(492,022)		(655,263)
Inventories	(707,617)		336,500
Accounts payable and accrued liabilities	18,460	33,072	528,721	85,280
Unearned revenue	107,086		107,086
Net cash (used in) operating activities	(418,769)	(48,148)	(292,586)	(162,169)
Financing activities
Loan	879,552		1,385,312
Loan repayment	(371,839)		(678,894)
Prepaid expenses and other long-term assets	(152,955)		(152,955)
Due to related party		31,475	(172,390)	60,552
Property, equipment and intangible assets	(209)		(3,912)
Shares cancelled for cash	(9,500)		(9,500)
Shares issued for cash				26,415
Net cash provided by financing activities	345,049	31,475	367,661	86,967
Net changes in cash	(73,720)	(16,673)	75,075	(75,202)
Cash at beginning of the period	149,765	27,452	970	85,981	85,981
Cash at end of the period	$ 76,045	$ 10,779	$ 76,045	$ 10,779	$ 970

Interim Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Jan. 31, 2021	Apr. 30, 2020
Current Assets:
Cash	$ 76,045	$ 970
Accounts receivable	427,455
Prepaid expenses and other current assets	655,263
Inventories	810,085
Total Current Assets	1,968,848	970
Prepaid expenses and other long-term assets	152,955
Property and equipment, net	70,712
TOTAL ASSETS	2,192,515	970
Current Liabilities:
Accounts payable and accrued liabilities	571,221	42,500
Loan	775,343
Unearned revenue	107,086
Due to related parties		172,390
Total Current Liabilities	1,453,650	214,890
TOTAL LIABILITIES	1,453,650	214,890
SHAREHOLDERS' EQUITY
Share Capital Common stock, $0.00001 par value, 50,000,000,000 shares authorized; 9,890,950 shares issued and outstanding as of January 31, 2021 and 4,705,849 as of April 30, 2020 respectively	99	47
Shares to be issued	2,800
Treasury stock, at cost (150,000 shares)	(9,500)
Additional paid in capital	9,362,863	7,216,898
Accumulated deficit	(8,617,397)	(7,430,865)
TOTAL SHAREHOLDERS' EQUITY	738,865	(213,920)
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 2,192,515	$ 970