Company Quick10K Filing
Quick10K
Evergreen
10-Q 2019-07-31 Quarter: 2019-07-31
10-K 2019-04-30 Annual: 2019-04-30
10-Q 2019-01-31 Quarter: 2019-01-31
10-Q 2018-10-31 Quarter: 2018-10-31
10-Q 2018-07-31 Quarter: 2018-07-31
10-K 2018-04-30 Annual: 2018-04-30
10-Q 2018-01-31 Quarter: 2018-01-31
10-Q 2017-10-31 Quarter: 2017-10-31
10-Q 2017-07-31 Quarter: 2017-07-31
10-K 2017-04-30 Annual: 2017-04-30
10-Q 2017-01-31 Quarter: 2017-01-31
10-Q 2016-10-31 Quarter: 2016-10-31
10-Q 2016-07-31 Quarter: 2016-07-31
10-K 2016-04-30 Annual: 2016-04-30
10-Q 2016-01-31 Quarter: 2016-01-31
10-Q 2015-10-31 Quarter: 2015-10-31
10-Q 2015-07-31 Quarter: 2015-07-31
10-K 2015-04-30 Annual: 2015-04-30
10-Q 2015-01-31 Quarter: 2015-01-31
10-Q 2014-10-31 Quarter: 2014-10-31
10-Q 2014-07-31 Quarter: 2014-07-31
10-K 2014-04-30 Annual: 2014-04-30
10-Q 2014-01-31 Quarter: 2014-01-31
8-K 2018-09-11 Accountant, Exhibits
8-K 2018-07-27 Control, Officers, Exhibits
STBZ State Bank Financial 1,291
CRBO Carbon Energy 74
MPAC Micropac Industries 26
NAHD New Asia Holdings 14
SGY Talos Petroleum 0
VDI Vantage Drilling International 0
HSTC HST Global 0
ZETAI Zeta Acquisition I 0
XSNX Xsunx 0
STRZQ Star Buffet 0
EVGI 2019-07-31
Note 1 - Organization and Summary of Significant Accounting Policies
Note 2 - Stockhlders' (Deficit) Equity
Note 3 - Changes in Management
Note 4 - Related Party Transactions
Note 5 - Recent Accounting Pronouncements
Note 6 - Subsequent Events
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II. Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 3. Defaults on Senior Securities
Item 4. Mine Safety Disclosures
Item 5. Other Information
Item 6. Exhibits
EX-31.1 f10q0719ex31-1_evergreen.htm
EX-32.1 f10q0719ex32-1_evergreen.htm

Evergreen Earnings 2019-07-31

EVGI 10Q Quarterly Report

Balance SheetIncome StatementCash Flow

10-Q 1 f10q0719_evergreen.htm QUARTERLY REPORT

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

FOR THE QUARTERLY PERIOD ENDED JULY 31, 2019

 

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

Commission File No. 000 30432

 

Evergreen International Corp.
(Exact name of registrant as specified in its charter)

 

State of Delaware   22-2335094
(State or other jurisdiction of
Incorporation or organization)
  (I.R.S. Employer
Identification No.)

 

6F Fazhan Building, No. 658, Chaoyang Street

Jingxiu District, Baoding City, Hebei, China

(Address of principal executive offices)

(Zip Code)

 

+86-23-89066682

 

(Registrant’s telephone number, including area code)

 

N/A

 

(Former name, former address and former fiscal year, if changed since last report)

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class  Trading Symbol(s)  Name of each exchange on which registered
N/A      

 

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) or the Exchange Act. ☐

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).

Yes ☒ No ☐

 

As of September 13, 2019, there were 7,350,540 shares of Common Stock issued and outstanding.

 

 

 

 

 

 

EVERGREEN INTERNATIONAL CORP.

INDEX

 

        Page
Number
 
PART I.   Financial Information    
         
Item 1.   Unaudited Condensed Financial Statements    
         
    Condensed Balance Sheets (Unaudited) – July 31, 2019 and April 30, 2019   1
    Condensed Statements of Operations (Unaudited) - Three Months Ended July 31, 2019 and 2018   2
    Condensed Statements of Stockholders’ Equity (Unaudited) - Three Months Ended July 31, 2019 and 2018   3
    Condensed Statements of Cash Flows (Unaudited) - Three Months Ended July 31, 2019 and 2018   4
    Notes to Unaudited Condensed Financial Statements   5
         
Item 2.   Management’s Discussion and Analysis of Financial Condition and Results of Operations   8
         
Item 3.   Quantitative and Qualitative Disclosures About Market Risk   9
         
Item 4.   Controls and Procedures   10
         
PART II.   Other Information   11
         
Item 1.   Legal Proceedings   11
         
Item 1A.   Risk Factors   11
         
Item 2.   Unregistered Sales of Equity Securities and Use of Proceeds   11
         
Item 3.   Defaults Upon Senior Securities   11
         
Item 4.   Mine Safety Disclosures   11
         
Item 5.   Other Information   11
         
Item 6.   Exhibits   11

 

i

 

 

EVERGREEN INTERNATIONAL CORP.

CONDENSED BALANCE SHEETS

(Unaudited)

 

   July 31,
2019
  April 30,
2019
       
ASSET      
Current Asset:      
Cash  $785   $785 
Total Current Asset   785    785 
           
Total Asset  $785   $785 
           
LIABILITIES AND STOCKHOLDERS’ EQUITY          
           
Current Liabilities:          
Accounts Payable and Accrued Expenses  $31,952   $11,226 
Accounts Payable and Accrued Expenses – related party   23,590    20,345 
           
Total Current Liabilities   55,542    31,571 
           
Commitments and Contingencies          
           
Stockholders’ Deficit:          
Preferred Stock, $.001 par value; 1,000,000 shares authorized; None issued and outstanding   -      -   
Common Stock, $.001 par value; 10,000,000 shares authorized; 7,350,540 shares issued and outstanding   7,350    7,350 
Additional Paid-In Capital   2,190,644    2,190,644 
Accumulated Deficit   (2,252,751)   (2,228,780)
           
Total Stockholders’ Deficit   (54,757)   (30,786)
           
Total Liabilities and Stockholders’ Deficit  $785   $785 

  

The accompanying notes are an integral part of the unaudited condensed financial statements.

 

1

 

 

EVERGREEN INTERNATIONAL CORP.

CONDENSED STATEMENTS OF OPERATIONS

(Unaudited)

 

   Three Months Ended
July 31,
 
   2019   2018 
         
Net Sales  $-   $- 
           
Costs and Expenses:          
Selling, General and Administrative Expenses   23,971    22,177 
           
Loss from Operations   (23,971)   (22,177)
           
Other Income:          
Interest Income   -    133 
           
Net Loss  $(23,971)  $(22,044)
           
Loss Per Common Share – Basic and diluted  $(0.00)  $(0.00)
           
Weighted Average Shares Outstanding   7,350,540    7,350,540 

 

The accompanying notes are an integral part of the unaudited condensed financial statements.

 

2

 

 

EVERGREEN INTERNATIONAL CORP.

CONDENSED STATEMENTS OF STOCKHOLDERS’ (DEFICIT) EQUITY

THREE MONTHS ENDED JULY 31, 2019 AND 2018

(Unaudited)

 

           Additional         
   Common Stock   Paid-In   Accumulated     
   Shares   Amount   Capital   Deficit   Total 
Balance – April 30, 2018   7,350,540   $7,350   $2,372,640   $(2,175,854)  $204,136 
Special Dividends   -    -    (181,996)   -    (181,996)
Net Loss   -    -    -    (22,044)   (22,044)
Balance – July 31, 2018   7,350,540   $7,350   $2,190,644   $(2,197,898)  $96 
                          
Balance – April 30, 2019   7,350,540   $7,350   $2,190,644   $(2,228,780)  $(30,786)
Net Loss   -    -    -    (23,971)   (23,971)
Balance – July 31, 2019   7,350,540   $7,350   $2,190,644   $(2,252,751)  $(54,757)

 

The accompanying notes are an integral part of the unaudited condensed financial statements.

 

3

 

 

EVERGREEN INTERNATIONAL CORP.

CONDENSED STATEMENTS OF CASH FLOWS

(Unaudited)

 

   Three Months Ended
July 31,
 
   2019   2018 
Cash Flows from Operating Activities:        
Net Loss  $(23,971)  $(22,044)
Changes in Operating Assets and Liabilities:          
Increase (Decrease) in Accounts Payable and Accrued Liabilities   20,726    (1,500)
Increase (Decrease) in Accounts Payable and Accrued Liabilities-relate parties   3,245    - 
           
Net Cash Used in Operating Activities   -    (23,544)
           
Cash Flows from Financing Activities:          
Special Dividends Paid   -    (181,996)
           
Net Cash Used in Financing Activities   -    (181,996)
           
Decrease in Cash and Cash Equivalents   -    (205,540)
           
Cash and Cash Equivalents - Beginning of Period   785    205,636 
           
Cash and Cash Equivalents - End of Period  $785   $96 
           
Supplemental Disclosure of Cash Flow Information:          
Cash Paid for Interest  $-   $- 
Cash Paid for Income Taxes  $-   $- 

 

The accompanying notes are an integral part of the unaudited condensed financial statements.

 

4

 

 

EVERGREEN INTERNATIONAL CORP.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

 

NOTE 1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Organization and Description of Business

 

Historically, Evergreen International Corp. (“Evergreen”, “we”, “our” or “the Company”) was a wood products company that had been in business since 1980. Our business fluctuated over the years. We were almost wholly dependent on sales to The Home Depot, Inc. On September 2, 2003, we terminated our business relationship with Home Depot due to increased difficulties in transacting business with such company on a profitable basis. These difficulties included Home Depot’s prohibition against price increases, despite increases in our costs of production, a diminution in the Home Depot territories to which we were allowed to sell product, and Home Depot’s demands regarding returns of ordered products that we were unwilling to accede to for economic reasons.

 

On June 22, 2018, the Company entered into a Stock Purchase Agreement (the “SPA”) with a third party (the “Purchaser”) and certain selling stockholders, including the Company’s controlling stockholders (all of the selling stockholders, collectively, the “Sellers”), pursuant to which the Purchaser has agreed to acquire shares of common stock representing approximately 98.75% of the company’s issued and outstanding common stock (the “Shares”). The transaction contemplated by the SPA was subject to various conditions, including payment of a cash dividend to the Company’s stockholders and the Company’s changing its name and stock symbol as per the direction of the Purchaser.

 

On July 6, 2018, the Board of Directors of the Company (i) declared a cash dividend in an aggregate amount of $181,996, or an average of $0.024760 per share, payable to stockholders of record on July 16, 2018, and (ii) approved an amendment to the Company’s Certificate of Incorporation to change the Company’s name to Evergreen International, Corp, which amendment was filed with the Secretary of State of the State of Delaware on July 13, 2018 and became effective July 20, 2018.

 

On July 27, 2018, the transaction contemplated by the SPA closed, and as a result, the Purchaser completed the acquisition of the Shares, representing 98.75% of the company’s issued and outstanding common stock for $325,000, which was funded by the Purchaser’s personal funds. The consummation of the transactions contemplated by the SPA resulted in a change of control of the Company.

 

Currently, the Company only possesses minimal assets and liabilities, and does not have any substantial business operations; accordingly, there were no significant revenues or positive cash flows for the three months ended July 31, 2019. Management’s efforts are focused on seeking out a new and profitable operating business with strong growth potential. Until the Company completes an acquisition, its expenses are expected to consist solely of legal, accounting and compliance costs, including those related to complying with reporting obligations under the Securities and Exchange act of 1934.

 

Basis of Presentation

 

The accompanying unaudited condensed financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

 

The interim condensed financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission from the accounts of the Company without audit. The condensed balance sheet at April 30, 2019 was derived from audited financial statements but may not include all disclosures required by accounting principles generally accepted in the United States of America. The other information in these condensed financial statements is unaudited; however, in the opinion of management, the information presented reflects all adjustments of a normal recurring nature which are necessary to present fairly the Company’s financial position and results of operations and cash flows for the period presented. It is recommended that these condensed financial statements be read in conjunction with the financial statements and the notes thereto included in the Company’s fiscal year 2019 Annual Report on Form 10-K filed on July 29, 2019 and other financial reports filed by the Company from time to time.

 

Cash and Cash Equivalents

 

The Company considers all highly liquid short-term investments with a maturity of three months or less at time of purchase to be cash equivalents. There was no cash equivalent as of July 31, 2019 and April 30, 2019.

 

5

 

 

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, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

 

Income Taxes

 

Income taxes are provided in accordance with ASC 740 Accounting for Income Taxes. A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carry forwards. Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of all of the deferred tax assets will be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

 

Loss Per Share

 

The basic computation of loss per share is based on the weighted average number of shares outstanding during the period presented in accordance with ASC 260, “Earnings Per Share”. Since the Company has no common stock equivalents, diluted loss per share is the same as basic loss per share.

 

Fair Value of Financial Instruments

 

The fair value of the Company’s financial instruments, which consist primarily of cash, accounts payable and accrued expenses, and accounts payable and accrued expenses – related party, approximate their carrying amounts reported due to their short-term nature.

 

Concentration of Credit Risk

 

Financial instruments that potentially subject the Company to concentration of credit risk consist of cash accounts in a financial institution which, at times may exceed the Federal depository insurance coverage of $250,000. The Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.

 

Going Concern Risk

 

As of July 31, 2019, the Company has accumulated losses of $2,252,751, a working capital deficit of $54,757, and has no current operating activities. These factors raise substantial doubt about the Company’s ability to continue as a going concern. It is management’s intention to fund the ongoing operations of the Company while it seeks potential business opportunities.

 

NOTE 2 – STOCKHLDERS’ (DEFICIT) EQUITY

 

Change of Control

 

On June 22, 2018, the Company entered into a Stock Purchase Agreement (the “SPA”) with a third party (the “Purchaser”) and certain selling stockholders, including the Company’s controlling stockholders (all of the selling stockholders, collectively, the “Sellers”), pursuant to which the Purchaser has agreed to acquire shares of common stock representing approximately 98.75% of the company’s issued and outstanding common stock (the “Shares”). The transaction contemplated by the SPA was subject to various conditions, including payment of a cash dividend to the Company’s stockholders and the Company’s changing its name and stock symbol as per the direction of the Purchaser.

 

On July 27, 2018, the transactions contemplated by the SPA were closed, and as a result, the Purchaser completed the acquisition of the Shares, representing 98.75% of the company’s issued and outstanding common stock for $325,000, which was funded by the Purchaser’s personal funds. The consummation of the transactions contemplated by the SPA resulted in a change of control of the Company.

 

6

 

 

Special Dividend

 

As a condition to the SPA discussed above, the Company issued a cash dividend of substantially all of its cash, less a reserve to discharge any remaining liabilities of the Company. The dividend was paid based on an average rate of $0.024760 per share for an aggregate total of $181,996.

 

NOTE 3 – CHANGES IN MANAGEMENT

 

Pursuant to the requirements of the SPA closed on July 27, 2018, effective on August 6, 2018, Mr. Brad Houtkin resigned from his positions as President, CEO, CFO, Treasurer and Director of the Company. Mr. Michael Houtkin resigned as the Secretary and Director of the Company, and Ms. Sherry Houtkin resigned as the Director of the Company. Further, effective as of the same date, the Board of Directors of the Company appointed Jianguo Wei as the sole Director, CEO, CFO, President and Treasurer of the Company, and Ge Gao as the Corporate Secretary of the Company.

 

NOTE 4 – RELATED PARTY TRANSACTIONS

 

Historically, the Company’s CEO, Jianguo Wei, has paid certain expenses on behalf of the Company. At July 31, 2019, the Company had a payable to this related party of $23,590.

 

NOTE 5 – RECENT ACCOUNTING PRONOUNCEMENTS

 

Management does not believe there would have been a material effect on the accompanying financial statements had any recently issued, but not yet effective, accounting standards been adopted in the current period.

 

NOTE 6 – SUBSEQUENT EVENTS

 

We have evaluated all events that occurred after the balance sheet date through the date when our financial statements were issued to determine if they must be reported. Management has determined that there were no additional reportable subsequent events to be disclosed.

 

7

 

 

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS  

 

The following discussion and analysis of financial condition and results of operations relates to the operations and financial condition reported in the unaudited condensed financial statements of the Company for the three months ended July 31, 2019 and 2018 and should be read in conjunction with such financial statements and related notes included in this report. Except for the historical information contained herein, the following discussion, as well as other information in this report, contain “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the “safe harbor” created by those sections.  Actual results and the timing of the events may differ materially from those contained in these forward-looking statements due to a number of factors, including those discussed in the “Forward-Looking Statements” set forth elsewhere in this Quarterly Report on Form 10-Q.

 

Forward-Looking Statements

 

This report may contain “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended (including any statements regarding the Company’s outlook for fiscal 2019 and beyond). Any forward-looking statements are subject to a number of risks and uncertainties. These include, among other risks and uncertainties, without limitation, the lack of any current business operation, the possible failure to identify a suitable acquisition candidate, and specific risks which may be associated with any new business or acquisition that we may acquire.

 

In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “could,” “would,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “projects,” “predicts,” “potential” and similar expressions intended to identify forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by such forward-looking statements. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Also, these forward-looking statements represent our estimates and assumptions only as of the date of this report. Except as otherwise required by law, we expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained in this report to reflect any change in our expectations or any change in events, conditions or circumstances on which any of our forward-looking statements are based. We qualify all of our forward-looking statements by these cautionary statements.

 

Critical Accounting Policies and Significant Judgments and Estimates

 

The Securities and Exchange Commission (“SEC”) issued disclosure guidance for “critical accounting policies.” The SEC defines “critical accounting policies” as those that require the application of management’s most difficult, subjective or complex judgments, often as a result of the need to make estimates about the effect of matters that are inherently uncertain and may change in subsequent periods.

 

Our significant accounting policies are described in the Notes to these financial statements. Currently, based on the Company’s limited activity, we do not believe that there are any accounting policies that require the application of difficult, subjective or complex judgments.

 

Historical Background

 

Historically, we were a wood products company that had been in business since 1980. Our business fluctuated over the years. We were almost wholly dependent on sales to The Home Depot, Inc. As discussed below in “Discontinued Operations,” on September 2, 2003, we discontinued our wood products business.

 

8

 

 

Discontinued Operations

 

On September 2, 2003, we terminated our business relationship with Home Depot due to increased difficulties in transacting business with such company on a profitable basis. These difficulties included Home Depot’s prohibition against price increases, despite increases in our costs of production, a diminution in the Home Depot territories to which we were allowed to sell product, and Home Depot’s demands regarding returns of ordered products that we were unwilling to accede to for economic reasons.

 

Results of Operations

 

Since we discontinued our wood products business in 2003, we have had no sales revenue, including during the three months ended July 31, 2019 and 2018.

 

Three Months Ended July 31, 2019 Compared to the Three Months Ended July 31, 2018

 

Selling, general and administrative expenses (“operating expenses”) were $23,971 for the three months ended July 31, 2019, as compared to $22,177 for the comparable prior period. These fees are primarily composed of professional fees and public filing expenses.

 

For the three months ended July 31, 2019, we had a net loss of $23,971 compared to a net loss of $22,044 for the comparable prior period. The increase during the current quarter is primarily due to increased professional fees.

 

Liquidity and Capital Resources

 

As of July 31, 2019, we had working capital deficit of $54,757, compared to working capital deficit of $30,786 as of April 30, 2019. As of July 31, 2019 and April 30, 2019, we had $785 of cash.

 

Operating activities used cash of $Nil for the three months ended July 31, 2019, as compared to cash used in operating activities of $23,544 during the comparable prior period. The decrease during the current period is primarily due to all operating expenses being accrued but not paid during the current period.

 

Financing activities used cash of $Nil for the three months ended July 31, 2019, as compared $181,996 during the comparable prior period, as the company paid a special dividend of substantially all remaining cash as a provision of the 2018 stock purchase agreement discussed in Note 2 of the financial statements.

 

During the remainder of fiscal 2020, we do not anticipate that we will incur any capital expenditures.

 

We anticipate that our operating activities will generate negative net cash flow during the remainder of fiscal 2020. We believe that the cash on hand will not be sufficient for meeting our liquidity and capital resource needs for the next year. In order to remedy this liquidity deficiency, management is actively seeking to raise additional capital to fund operations.

  

Off-Balance Sheet Arrangements

 

We do not have any transactions, agreements or other contractual arrangements that constitute off-balance sheet arrangements.

 

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 

 

This Item is not applicable because we are a “smaller reporting company,” as defined by applicable SEC regulation.

 

9

 

 

ITEM 4. CONTROLS AND PROCEDURES 

 

Management’s Report on Disclosure Controls and Procedures.

 

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our Securities Exchange Act reports is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to our management, including our President/Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. In designing and evaluating the disclosure controls and procedures, we recognized that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives, as ours are designed to do, and we necessarily were required to apply our judgment in evaluating the cost-benefit relationship of possible changes or additions to our controls and procedures.

 

As of July 31, 2019, we carried out an evaluation, under the supervision and with the participation of our management, including our President/Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934. Based upon that evaluation, our President/Chief Financial Officer concluded that our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, provide a reasonable level of assurance that they are effective in enabling us to record, process, summarize and report information required to be included in our periodic SEC filings within the required time period.

 

Changes in Internal Control Over Financial Reporting.

 

There have been no changes in our internal control over financial reporting that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

 

10

 

 

PART II. OTHER INFORMATION

 

ITEM 1. LEGAL PROCEEDINGS

 

From time to time, we may become involved in various lawsuits and legal proceedings, which arise in the ordinary course of business. However, litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise from time to time that may harm business. We are currently not aware of any such legal proceedings or claims that will have, individually or in the aggregate, a material adverse effect on our business, financial condition or operating results.

 

ITEM 1A. RISK FACTORS

 

This Item is not applicable because we are a “smaller reporting company,” as defined by applicable SEC regulation.

 

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

 

None

 

ITEM 3. DEFAULTS ON SENIOR SECURITIES

 

None

 

ITEM 4. MINE SAFETY DISCLOSURES

 

Not Applicable

 

ITEM 5. OTHER INFORMATION

 

None

 

ITEM 6. EXHIBITS

  

3.1 Articles of Incorporation, as amended 1
3.2 By-Laws 2
31.1 Certification of the Principal Executive and Principal Financial Officer pursuant to Rule 13a-14(a) or Rule 15d-14(a) of the Securities Exchange Act of 1934, as amended. **
32.1 Certification of the Principal Executive and Principal Financial Officer pursuant to U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. ***
101.INS XBRL Instance Document **
101.SCH Document, XBRL Taxonomy Extension **
101.CAL Calculation Linkbase, XBRL Taxonomy Extension Definition **
101.DEF Linkbase,XBRL Taxonomy Extension Labels **
101.LAB Linkbase, XBRL Taxonomy Extension **
101.PRE Presentation Linkbase **

 

**Filed herewith.
*** In accordance with Item 601(b)(32)(ii) of Regulation S-K and SEC Release No. 34-47986, the certifications furnished in Exhibit 32.1 herewith are deemed to accompany this Form 10-Q and will not be deemed filed for purposes of Section 18 of the Exchange Act. Such certifications will not be deemed to be incorporated by reference into any filings under the Securities Act or the Exchange Act.

 

(1)Incorporated by reference to the Company’s Report on Form 10-K filed July 24, 2018

(2)Incorporated by reference to Amendment No. 1 to the Company’s Registration Statement on Form 10-SB (SEC File No. 01-15207) filed on or about August 2, 1999

 

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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.

 

  Evergreen International Corp.
   
  /s/ Jianguo Wei
  Jianguo Wei,
  President, Chief Executive Officer and
  Chief Financial Officer

 

Date: September 13, 2019

 

 

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