Quarterly Report for Quarter Ending March 31, 2025 (Form 10-Q)

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION

GENERAL INFORMATION ABOUT OUR COMPANY

We were incorporated in Nevada on June 12, 2020. We are a development stage company that was formed to offer handwritten letter service via our website platform. We plan to develop and sell Customer Relationship Management (CRM) program designed to assist businesses in sending handwritten letters to their customers. Also, we are planning to develop Reporting and Analytics Software analytics to help our customers see how effective these handwritten letters are in their marketing campaigns. Our principal executive offices are located at 6 Rosemary Way, Nuneaton, United Kingdom CV10 7ST. Our phone number is +1 702 879 4409.

From inception until the date of this filing, we have had very limited operating activities. Our independent registered public accounting firm has issued an audit opinion for Incordex Corp. which includes a statement expressing substantial doubt as to our ability to continue as a going concern.

Our President, Iurii Abramovici, will offer shares of our common stock to his friends, family members and business associates in United Kingdom and Europe.

On January 13, 2025, Iurii Abramovici, the Company's Chief Executive Officer and sole Director (the "Seller") consummated a transaction pursuant to which he sold 5,000,000 shares of Common Stock, par value $0.001 (the "Shares") of Incordex Corp. (the "Company") to Mr. Jun Lu (the "Buyer") pursuant to that certain Securities Purchase Agreement, dated October 8, 2024, entered into between the Seller and the Buyer (the "Transaction"). In connection with the consummation of the Transaction, Mr. Abramovici agreed to resign from his positions with the Company. The sale of the Shares was a private transaction. The Shares transferred to the Buyer were labeled restrictive on the transfer agent's books. At the Transaction's closing, Mr. Abramovici sold and transferred 5,000,000 shares of common stock to Mr. Lu for $380,000. In connection with the consummation of the Transaction, Mr. Abramovici resigned as Chief Executive Officer, Chief Financial Officer, President, Secretary, and Director of the Company effective on January 13, 2025, and agreed to appoint Mr. Jun Lu as Chief Executive Officer, President, Chief Financial Officer, Secretary and Director of the Company.

Great Importance

Personalization

Contact

Feeling of Comfort

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Our Web Site

Customers will be able to choose personal handwritten letter service or business services on the website. Private customers will have to fill up simple forms on our web site. Forms will include information about customer name and address, recipient name and address, text and payment information. Business customers will have to fill out quote form via our website. Our site will have special forms for freelancers wishing to work with us. We are currently on the software development stage. Also, we plan to launch two websites: one to offer CRM software development and maintenance, which assists businesses in sending handwritten letters to their customers. The second website will be dedicated to the development of Reporting and Analytics Software, enabling businesses to assess the effectiveness of these handwritten letters in their marketing campaigns.

On September 28, 2023, the Company, entered into Website Development Agreement with Alex White

On November 1, 2023, the Company, entered into a Mobile App Development Agreement with Ivenco FZE

Revenue

For the year ended June 30, 2024, we have launched our web site at: https://incordexcorp.com/. The Company plans to generate revenue via direct sales and via online orders.

Competition

The market for direct marketing is highly competitive. Numerous online services will compete with us. Our competitors are substantially larger and more experienced than us and have longer operating histories and have materially greater financial and other resources than us.

Marketing

We plan to focus on direct sales online as we get started. Once we build a reputation and customer base, it will be easier to attract customers. We plan to market our products mainly in Europe and US. To promote our website and services, we are planning to use On-line Directories and Databases and Social Media.

Employees and Employment Agreements

At present, we have no employees other than our officer and director. We presently do not have pension, health, annuity, insurance, stock options, profit sharing or similar benefit plans; however, we may adopt such plans in the future. There are presently no personal benefits available to any officers, directors or employees.

Results of Operation

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.

We expect we will require additional capital to meet our long-term operating requirements. We expect to raise additional capital through, among other things, the sale of equity or debt securities.

Three Months Periods Ended March 31, 2025 and 2024:

During the three months period ended March 31, 2025 and 2024 we have generated $0 and $5,994 in revenues, respectively.

For the three months period ended March 31, 2025 operating expenses were $(261). Operating expenses consist of mainly professional fees. For the three months period ended March 31, 2024 operating expenses were $(3,885). Operating expenses consist of mainly amortization expenses.

Our net loss for the three months period ended March 31, 2025 was $2,612. Our net income for the three months period ended March 31, 2024 was $2,109.

Nine Months Periods Ended March 31, 2025 and 2024:

During the nine months period ended March 31, 2025 and 2024 we have generated $2,810 and $26,336 in revenues, respectively.

For the nine months period ended March 31, 2025 operating expenses were $(11,331). Operating expenses consist of mainly professional fees. For the nine months period ended March 31, 2024 operating expenses were $(21,423). Operating expenses consist of mainly professional fees.

Our net income for the nine months period ended March 31, 2025 was $7,842. Our net income for the nine months period ended March 31, 2024 was $4,913.

Liquidity and Capital Resources

As of March 31, 2025, our total assets were $0. As of March 31, 2025, our current liabilities were $1,874 consisting of accounts payable of $1,874.

Cash Flows from Operating Activities for nine months ended March 31, 2025 and 2024

For the nine months ended March 31, 2025, net cash flows used in operating activities was $18,024. For the nine months ended March 31, 2024, net cash flows used in operating activities was $16,403 .

Cash Flows from Investing Activities

We have not generated cash flows from investing activities for the nine months ended March 31, 2025. For the nine months ended March 31, 2024, net cash flows generated from investing activities was $(24,000).

Cash Flows from Financing Activities

For the nine months ended March 31, 2025, net cash flows provided by financing activities was $(19,014) from director loan. For the nine months ended March 31, 2024, net cash flows provided by financing activities was $4,000 from director loan.

Plan of Operation and Funding

We expect that working capital requirements will continue to be funded through a combination of our existing funds and further issuances of securities. Our working capital requirements are expected to increase in line with the growth of our business.

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Existing working capital, further advances and debt instruments, and anticipated cash flow are expected to be adequate to fund our operations over the next three months. We have no lines of credit or other bank financing arrangements. Generally, we have financed operations to date through the proceeds of the private placement of equity and debt instruments. In connection with our business plan, management anticipates additional increases in operating expenses and capital expenditures relating to: (i) acquisition of inventory; (ii) developmental expenses associated with a start-up business; and (iii) marketing expenses. We intend to finance these expenses with further issuances of securities, and debt issuances. Thereafter, we expect we will need to raise additional capital and generate revenues to meet long-term operating requirements. Additional issuances of equity or convertible debt securities will result in dilution to our current shareholders. Further, such securities might have rights, preferences or privileges senior to our common stock. Additional financing may not be available upon acceptable terms, or at all. If adequate funds are not available or are not available on acceptable terms, we may not be able to take advantage of prospective new business endeavors or opportunities, which could significantly and materially restrict our business operations. We will have to raise additional funds in the next twelve months in order to sustain and expand our operations. We currently do not have a specific plan of how we will obtain such funding; however, we anticipate that additional funding will be in the form of equity financing from the sale of our common stock. We have and will continue to seek to obtain short-term loans from our directors, although no future arrangement for additional loans has been made. We do not have any agreements with our directors concerning these loans. We do not have any arrangements in place for any future equity financing.

Off-Balance Sheet Arrangements

As of the date of this Quarterly Report, we do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.

Going Concern

The financial statements have been prepared "assuming that we will continue as a going concern," which contemplates that we will realize our assets and satisfy our liabilities and commitments in the ordinary course of business.