MOJO DATA SOLUTIONS, INC. Management report and analysis of the financial situation and operating results. (Form 10-K)

Forward-looking statements

The following discussion and analysis of the Company’s consolidated financial position and results of operations relate to the years ended
December 31, 2014 and 2013 and should be read in conjunction with the consolidated financial statements and accompanying notes to those consolidated financial statements that appear elsewhere in this report. Our discussion includes forward-looking statements based on current expectations that involve risks and uncertainties, such as our plans, goals, expectations and intentions. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements due to a number of factors. We use words such as “anticipate”, “estimate”, “plan”, “project”, “continue”, “ongoing”, “expect”, “believe”, “intend”, ” may”, “will”, “should”, “could”, and similar expressions to identify forward-looking statements. As used in this report, the terms “MOJO”, the “Company”, “we”, “our” , “our” and similar terms mean Mojo Data Solutions, Inc.a Porto Rico society.


Company Overview

Since the conclusion of the asset purchase agreement on January 31, 2014 (see note 2 to the consolidated financial statements for details of the transaction), we have refocused the Company’s business plan and strategy to develop and monetize the intellectual property assets we purchased from MDS. Prior to the transaction, the Company served as a holding company for our predecessor’s wholly-owned subsidiary, Authentic Teas Inc.a company incorporated in the province of Ontario, Canada on July 8, 2010 (“AUTT Canada”). AUTT Canada historically sold herbal teas online.

Consolidated operating results

Year ended December 31, 2020 compared to the year ended December 31, 2019

During the year ended December 31, 2020the Company generated revenues of $0
from an unrelated party. During the year ended December 31, 2019 the Company generated revenues of $0of a related party.

During the year ended December 31, 2020the Company had general and administrative expenses of $98,369 compared to $684,101 during the year ended
December 31, 2019. Majority of expenditures for the year ended December 31, 2020
corresponded to professional fees related to regulatory filings.

During the year ended December 31, 2020 and 2019, the Company had interest expense of $0.0 and $0.0respectively.

The above resulted in a net loss of $98,369 during the year ended December 31, 2020 compared to a net loss of $688,517 during the year ended December 31, 2019. The Company attributes the decrease in net loss to lower professional fees.

Cash and capital resources

The Company's working capital as of December 31, 2020 and 2019 is summarized as

                                December 31, 2020       December 31, 2019

Current Assets                 $                 0     $            34,339
Current Liabilities            $           (98,369 )   $          (684,101 )
Working Capital (Deficiency)   $           (98,369 )   $          (649,762 )


The Company's cash flow for the years ended December 31, 2020 and 2019 is
summarized as follows:

                                                        December 31, 2020       December 31, 2019

Cash (used in) operating activities                    $          (254,468 )   $          (445,169 )
Cash provided by (used in) investing activities        $           179,766     $           (11,525 )
Cash provided by financing activities                  $            39,140     $           493,129
Net increase (decrease) in cash and cash equivalents   $           (37,174 )   $            36,435

From December 31, 2020we had a working capital deficit of $96,533 compared to a working capital requirement of $649,762 of the December 31, 2019an improvement of $553,229. The variation is mainly attributable to the effects of the MDS asset purchase agreement which resulted in a decrease in debt.

We anticipate that our cash on hand and the revenue we expect to generate from our operations will not be sufficient to meet all of our cash requirements for the next twelve month period. We require funds to allow us to meet our minimum current and ongoing expenses as we currently do not generate revenue to meet our operating and capital expenditures. We currently have no additional sources of funding committed and may not be able to secure additional funding. To acquire additional funding, we plan to raise this additional capital primarily through equity and debt financing, provided such funding is available to us. The issuance of additional equity securities by us could result in a material dilution of the interests of our current shareholders. There can be no assurance that we will be able to obtain the additional funds necessary to carry on our business or that additional financing will be available to us if needed or, if available, that it can be obtained at commercially reasonable terms. If we are unable to obtain the required additional financing in a timely manner, we will not be able to meet certain obligations as they come due and we will be forced to reduce or possibly even cease our operations.

Off-balance sheet arrangements:

We do not have any arrangements, financings or other off-balance sheet relationships with unconsolidated entities or other persons, also known as “special purpose entities” (SPEs).

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