RPDL 10-Q
Rapid Line Inc. (RPDL)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form
For the quarterly period ended
For the transition period from ______ to _______
Commission File No.
(Exact name of registrant as specified in its charter)
|
(State or Other Jurisdiction of Incorporation or Organization) |
8200 (Primary Standard Industrial Classification Number) |
(IRS Employer Identification Number) |
Telephone:
(Address and telephone number of principal executive offices)
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 | NONE | N/A |
Securities registered pursuant to Section 12(g) of
the Act:
Indicate by checkmark whether the issuer: (1) has
filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 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.
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).
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, 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:
| Large accelerated filer | ☐ | 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.
Indicate by checkmark whether the registrant is a
shell Company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the practicable date:
At September 14, 2026, the number of shares of the Registrant’s common stock outstanding was .
TABLE OF CONTENTS
| PART I. | FINANCIAL INFORMATION | |
| Item 1. | Financial Statements (Unaudited) | 3 |
| Balance Sheets | 3 | |
| Statement of Operations | 4 | |
| Statement of Stockholders’ Equity | 5 | |
| Statement of Cash Flows | 6 | |
| Notes to the Financial Statements | 7 | |
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 12 |
| Item 3. | Quantitative and Qualitative Disclosures About Market Risk | 15 |
| Item 4. | Controls and Procedures | 15 |
| PART II. | OTHER INFORMATION | |
| Item 1. | Legal Proceedings | 16 |
| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | 16 |
| Item 3. | Defaults Upon Senior Securities | 16 |
| Item 4. | Mine Safety Disclosures | 16 |
| Item 5. | Other Information | 16 |
| Item 6. | Exhibits | 16 |
| Signatures | 17 |
| 2 |
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements
RAPID LINE INC.
BALANCE SHEETS
(Unaudited)
| July 31, | January 31, | |||||||
| 2026 | 2026 | |||||||
| ASSETS | ||||||||
| Current Assets | ||||||||
| Bank Account | $ | $ | ||||||
| Prepaid Expenses | ||||||||
| Total Current Assets | ||||||||
| Non- Current Intangible Assets | ||||||||
| Mobile Application and Website Development | ||||||||
| Accumulated Amortization | ( | ) | ( | ) | ||||
| Total Non-Current Intangible Assets | ||||||||
| Total Assets | $ | $ | ||||||
| LIABILITIES | ||||||||
| Current Liabilities | ||||||||
| Accounts Payable/Accrued Liabilities | $ | $ | ||||||
| Interest Payable | ||||||||
| Total Current Liabilities | ||||||||
| Long term Liabilities | ||||||||
| Director Loan | ||||||||
| Due to Third Party | ||||||||
| Promissory Note | ||||||||
| Total Long-term Liabilities | ||||||||
| Total Liabilities | ||||||||
| Stockholders’ Equity | ||||||||
| Common stock, $ par value, shares authorized; shares issued and outstanding as of July 31, 2026 and January 31, 2026 respectively | ||||||||
| Additional paid-in-capital | ||||||||
| Accumulated deficit | ( | ) | ( | ) | ||||
| Total Stockholders’ Equity | ( | ) | ( | ) | ||||
| Total Liabilities and Stockholders’ Equity | $ | $ | ||||||
The accompanying notes are an integral part of these financial statements.
| 3 |
RAPID LINE INC.
STATEMENT OF OPERATIONS
(Unaudited)
| Three | Six | Three | Six | |||||||||||||
| Months | Months | Months | Months | |||||||||||||
| Ended | Ended | Ended | Ended | |||||||||||||
| July 31, 2026 | April 30, 2026 | April 30, 2025 | July 31, 2025 | |||||||||||||
| REVENUES | $ | $ | $ | $ | ||||||||||||
| OPERATING EXPENSES | ||||||||||||||||
| General and Administrative Expenses | ||||||||||||||||
| TOTAL OPERATING EXPENSES | ||||||||||||||||
| Other income/debt forgiveness | ||||||||||||||||
| NET INCOME (LOSS) FROM OPERATIONS | ( | ) | ( | ) | ( | ) | ||||||||||
| PROVISION FOR INCOME TAXES | ||||||||||||||||
| NET INCOME (LOSS) | $ | ( | ) | $ | ( | ) | $ | ( | ) | $ | ||||||
| NET LOSS PER SHARE: BASIC AND DILUTED | $ | $ | $ | $ | ||||||||||||
| WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED | ||||||||||||||||
The accompanying notes are an integral part of these financial statements.
| 4 |
RAPID LINE INC.
STATEMENT OF STOCKHOLDERS’ EQUITY
(Unaudited)
| Additional | Total | |||||||||||||||||||
| Common Stock | Paid-in | Deficit | Stockholders’ | |||||||||||||||||
| Shares | Amount | Capital | Accumulated | Deficit | ||||||||||||||||
| Balance, January 31, 2026 | $ | $ | $ | ( | ) | $ | ( | ) | ||||||||||||
| Net income for the period of three months ending April 30, 2026 | – | ( | ) | ( | ) | |||||||||||||||
| Balance, April 30, 2026 | $ | $ | $ | ( | ) | $ | ( | ) | ||||||||||||
| Net income for the period of three months ending July 31, 2026 | – | ( | ) | ( | ) | |||||||||||||||
| Balance, July 31, 2026 | $ | $ | $ | ( | ) | $ | ( | ) | ||||||||||||
| Additional | Total | |||||||||||||||||||
| Common Stock | Paid-in | Deficit | Stockholders’ | |||||||||||||||||
| Shares | Amount | Capital | Accumulated | Deficit | ||||||||||||||||
| Balance, January 31, 2025 | $ | $ | $ | ( | ) | $ | ( | ) | ||||||||||||
| Net income for the period ending April 30, 2025 | – | |||||||||||||||||||
| Balance, April 30, 2025 | $ | $ | $ | $ | ||||||||||||||||
| Net income for the period ending July 31, 2025 | – | ( | ) | ( | ) | |||||||||||||||
| Balance, July 31, 2025 | $ | $ | $ | ( | ) | $ | ||||||||||||||
The accompanying notes are an integral part of these financial statements.
| 5 |
RAPID LINE INC.
STATEMENT OF CASH FLOWS
(Unaudited)
| Six Months | Six Months | |||||||
| Ended | Ended | |||||||
| July 31, 2026 | July 31, 2025 | |||||||
| CASH FLOWS FROM OPERATING ACTIVITIES | ||||||||
| Net income (loss) | $ | ( | ) | $ | ||||
| Adjustment to reconcile net income (loss) to cash provided by operating activities | ||||||||
| Debt forgiveness | ||||||||
| Accumulated amortization | ||||||||
| Increase/Decrease related to Prepaid Expenses | ||||||||
| Increase in accounts payable | ( | ) | ||||||
| Decrease in interest payable | ( | ) | ||||||
| CASH FLOWS USED IN OPERATING ACTIVITIES | ( | ) | ||||||
| CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||
| Related Parties | ||||||||
| Related parties Loans | ( | ) | ||||||
| CASH FLOWS PROVIDED BY FINANCING ACTIVITIES | ( | ) | ||||||
| Net increase in cash and equivalents | ( | ) | ( | ) | ||||
| Cash and equivalents at beginning of the period | ||||||||
| Cash and equivalents at end of the period | $ | $ | ||||||
| Supplemental cash flow information: | ||||||||
| Cash paid for: | ||||||||
| Interest | $ | $ | ||||||
| Taxes | $ | $ | ||||||
The accompanying notes are an integral part of these financial statements.
| 6 |
RAPID LINE INC.
NOTES TO THE UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD OF THREE MONTHS ENDED JULY 31, 2026
NOTE 1 – ORGANIZATION AND BASIS OF PRESENTATION
Rapid Line Inc. (the “Company”) is a development-stage company incorporated under the laws of the State of Wyoming on January 10, 2022. The Company was initially formed to engage in the development, marketing and provision of business process analysis, problem-solving and general business services. The Company has not generated revenues since inception and is currently evaluating opportunities to commence operations and develop its business plan.
Our executive and business office is located at 1111 South Roop Street, Unit 1915, Carson City, NV 89702.
NOTE 2 – GOING CONCERN
As reflected in the financial statements, the
Company had stockholders’ equity of $(
The Company is attempting to commence operations and generate sufficient revenue; however, the Company’s cash position may not be sufficient to support the Company’s daily operations. Management intends to raise additional funds by way of a private or public offering. While the Company believes in the viability of its strategy to commence operations and generate sufficient revenue and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon the Company’s ability to further implement its business plan and generate sufficient revenue and its ability to raise additional funds by way of a public or private offering.
The financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to 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 Company’s year-end is January 31.
The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and with the rules and regulations of the Securities and Exchange Commission. Accordingly, they do not include all of the information and notes required by US GAAP for complete financial statements of the Company. In the opinion of management, these financial statements reflect all adjustments of a normal recurring nature necessary for the fair presentation of the Company’s financial position, results of operations and cash flows for the interim periods presented in conformity with US GAAP. These unaudited financial statements should be read in conjunction with the financial statements and notes thereto for the year ended January 31, 2026. Interim results are not necessarily indicative of the results that may be expected for a full year or any other interim period.
| 7 |
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 period ended July 31, 2026, we have
Use of Estimates
The preparation of financial statements in conformity with generally accepted accounting principles 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.
Cash and Cash Equivalents
The Company considers all highly liquid
investments with the original maturities of three months or less to be cash equivalents. The Company issued
common shares for $
Mobile Application and Website development - amortization
The Company is using straight - line amortization for our mobile application and website since they are fully operational as of January 15, 2022.
Mobile Application and Website – $
Term of amortization – 60 months (
As of July 31, 2026, the company’s
accumulated amortization was $
Interest Payable Note
All interest owed pursuant to loans were forgiven
during the year ended January 31, 2026. As of July 31, 2026, the Company had
Fair Value of Financial Instruments
AS topic 820 “Fair Value Measurements and Disclosures” establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market.
These tiers include:
| 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. |
The carrying value of cash and the Company’s loan from shareholder approximates its fair value due to their short-term maturity.
| 8 |
Income Taxes
Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.
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 July 31, 2026, there were potentially dilutive debt or equity instruments issued or outstanding.
Stock-Based Compensation
Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has t granted any stock options.
Segment Reporting
Management has determined that the Company operates as a operating and reportable segment in accordance with ASC Topic 280, Segment Reporting. The Company’s chief operating decision maker (“CODM”), identified as the Chief Executive Officer, evaluates financial performance and allocates resources on a consolidated basis. The Company currently operates in a single line of business focused on the development of its KIDWIN mobile application and related online education platform. Substantially all of the Company’s assets are located in the United States and the Company has not generated revenue during the periods presented.
Recent Accounting Pronouncements
Management does not believe that any recently issued, but not yet effective accounting pronouncements, when adopted, will have a material effect on the accompanying financial statements.
NOTE 4 – RELATED PARTY TRANSACTIONS AND ADVANCES
The Company has $
The $
| 9 |
NOTE 5 – COMMON STOCK
The Company has , $ par value shares of common stock authorized.
On January 10, 2022 the Company issued
shares of common stock to a director for services rendered estimated to be $
In July of 2022, the Company issued
common shares to few individuals at $0.02 per share in consideration of $
In October of 2022, the Company issued
common shares to few individuals at $0.02 per share in consideration of $
In January of 2023, the Company
issued common shares to few individuals at $0.02 per share in consideration of $
In April of 2023, the Company issued
common shares to few individuals at $0.02 per share in consideration of $
There were shares of common stock issued and outstanding as of July 31, 2026.
NOTE 6 – COMMITMENTS AND CONTINGENCIES
Our sole officer and director, Richard Chiang, provides office space to the Company at no charge.
NOTE 7 – INCOME TAXES
On December 22, 2017, the President of the United States signed into law the Tax Cuts and Jobs Act (“Tax Reform Act”). The legislation significantly changes U.S. tax law by, among other things, lowering corporate income tax rates, implementing a territorial tax system and imposing a transition tax on deemed repatriated earnings of foreign subsidiaries. The Tax Reform Act permanently reduces the U.S. corporate income tax rate from a maximum of 35% to a flat 21% rate, effective January 1, 2018.
The reconciliation of income tax benefit (expenses) at the U.S. statutory rate at 21% for the period ended as follows:
| Reconciliation of income taxes | ||||||||
| July 31, 2026 | July 31, 2025 | |||||||
| Federal income tax benefit attributable to: | ||||||||
| Current operations | $ | ( | ) | $ | ( | ) | ||
| Less: change in valuation allowance | ||||||||
| Net provision for Federal income taxes | $ | $ | ||||||
The tax effects of temporary differences that give rise to significant portions of the net deferred tax assets are as follows:
| Schedule of deferred tax assets | ||||||||
| July 31, 2026 | January 31, 2026 | |||||||
| Net operating loss carryover | $ | ( | ) | $ | ( | ) | ||
| Valuation allowance | ||||||||
| Deferred tax assets, net | $ | $ | ||||||
| 10 |
The Company has accumulated approximately
$
NOTE 8 – CHANGE IN CONTROL
On March 18, 2025, Jiang Jian acquired 2,500,000 shares of the Company’s common stock from Wiktor Moroz for $362,315 in cash, representing approximately 68.82% of the Company’s outstanding common stock and voting control of the Company. In connection with the transaction, Mr. Moroz resigned as the Company’s Sole Director and officer, and Mr. Jiang was appointed as the Company’s Sole Director and President, Chief Executive Officer and Secretary.On August 22, 2025, Nova Aura Limited acquired 2,500,000 shares of the Company’s common stock from Jiang Jian for $586,473 in cash, representing approximately 68.82% of the Company’s outstanding common stock and voting control of the Company. In connection with the transaction, Mr. Jiang resigned as the Company’s officer and director, and Richard Chiang was appointed as the Company’s Sole Director, President, Chief Executive Officer, Chief Financial Officer, Treasurer and Secretary.
NOTE 9 – FORGIVENESS OF DEBT
Effective August 22, 2025, in connection with the
change in control described in Note 8, Jiang Jian, the Company’s former Sole Director and officer, forgave all amounts owed to him by
the Company, totaling $
NOTE 10 – SUBSEQUENT EVENTS
Management has evaluated subsequent events in accordance with FASB ASC Topic 855, Subsequent Events, through the date these unaudited condensed financial statements were available to be issued and has determined that, except as described below, there were no material subsequent events requiring recognition or disclosure.
Unusual Market Activity
Subsequent to July 31, 2026, the Company’s common stock experienced a significant increase in market price and trading activity, increasing from below approximately $0.20 per share to approximately $2.00 per share within approximately 48 hours and subsequently to approximately $3.67 per share as of August 25, 2026 and as of early September the stock had declined significantly back to $0.12 per share.
The Company is not aware of any material change in its business, operations, financial condition or prospects, or any other corporate development, that would account for the magnitude of the increase. The Company has not participated in, directed or otherwise caused the trading activity and is not aware of the identity or intentions of the persons or entities involved.
Management notified the Financial Industry Regulatory Authority (“FINRA”) of the unusual market activity and will cooperate with any reasonable requests from applicable regulatory authorities. The Company is not aware of any determination by FINRA or any other regulatory authority regarding the cause of the trading activity.
The Company cannot predict the future trading price or volume of its common stock, and there can be no assurance that the recent increase will be sustained. The Company’s common stock may experience significant volatility and may decline substantially.
| 11 |
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
Forward-Looking Statements
This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Forward-looking statements include statements regarding our expectations, plans, objectives, future operations, financing activities and business prospects. These statements may be identified by words such as “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “estimate,” “plan” and similar expressions. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. We undertake no obligation to update any forward-looking statements except as required by law.
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 Ended July 31, 2026
During the three months ended July 31, 2026, we have not generated any revenues.
Our net (loss)/gain for the three ended July 31, 2026, were $(42,900). Operating expenses consist of mainly professional fees, consulting expenses and depreciation expenses.
Liquidity and Capital Resources
As of July 31, 2026, our total assets were $28,898 consisting of Bank Account, Mobile Application and Website Development and Accumulated amortization and Prepaid Expenses and Issuances of Common Shares.
| Current Liabilities | ||||
| Accounts Payable/Accrued Liabilities | $ | 1,347 | ||
| Interest Payable | – | |||
| Total Current Liabilities | 1,347 | |||
| Long term Liabilities | ||||
| Director Loan | – | |||
| Due to Third Party | 188,249 | |||
| Promissory Note | – | |||
| Total Long term Liabilities | 188,249 | |||
| Total Liabilities | $ | 189,596 | ||
| 12 |
Recent Market Activity
Subsequent to July 31, 2026, the Company’s common stock experienced a significant increase in market price and trading volume. The market price increased from below approximately $0.20 per share to approximately $2.00 per share within approximately 48 hours and subsequently to approximately $3.67 per share as of August 25, 2026 and as of early September the stock had declined significantly back to $0.12 per share. Management is not aware of any material corporate development that would account for the magnitude of this increase.
The Company has not participated in, directed or otherwise caused the trading activity and is not aware of the identity or intentions of the persons or entities involved. Management notified FINRA of the unusual market activity. The Company cannot predict the future trading price or trading volume of its common stock, and the market price may experience significant volatility.
Cash Flows from Operating Activities
We have not generated positive cash flows from operating activities. For the six months ended July 31, 2026, net cash flows used in operating activities was $(89,446) consisting of:
| CASH FLOWS FROM OPERATING ACTIVITIES | ||||
| Net income (loss) | $ | (92,199 | ) | |
| Adjustment to reconcile net income (loss) to cash provided by operating activities | ||||
| Accumulated amortization | 4,100 | |||
| Increase in accounts payable | (1,347 | ) | ||
| CASH FLOWS USED IN OPERATING ACTIVITIES | $ | (89,446 | ) |
Cash Flows from Investing Activities
We have not generated any cash flows from investing activities as of July 31, 2026.
Cash Flows from Financing Activities
We have generated positive cash flows from financing activities. For six months ended July 31, 2026, we generated $79,057 consisting of:
| CASH FLOWS FROM FINANCING ACTIVITIES | ||||
| From Related Parties | $ | 79,057 | ||
| Interest payable | – | |||
| Capital Stock | – | |||
| CASH FLOWS PROVIDED BY FINANCING ACTIVITIES | $ | 79,057 |
| 13 |
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.
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 might not be available upon acceptable terms, or at all. If adequate funds are not available or are not available on acceptable terms, we might 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.
| 14 |
Item 3. Quantitative and Qualitative Disclosures About Market Risk
As a smaller reporting company, the Company is not required to provide the information otherwise required by this Item.
Item 4. Controls and Procedures
Our management is responsible for establishing and maintaining a system of disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act) that is designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer’s management, including its principal executive officer or officers and principal financial officer or officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.
Under the supervision and with the participation of our management, including our principal executive and financial officer, we conducted an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures as of July 31, 2026. Based on this evaluation, our management concluded that our disclosure controls and procedures were not effective as of such date to ensure that information required to be disclosed in our SEC filings is recorded, processed, summarized, and reported within the required time periods. There has been no change in our internal control over financial reporting during our current quarterly period to July 31, 2026 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.
| 15 |
PART II. OTHER INFORMATION
Item 1. Legal Proceedings
Management is not aware of any legal proceedings contemplated by any governmental authority or any other party involving us or our properties. As of the date of this Quarterly Report, no director, officer or affiliate is (i) a party adverse to us in any legal proceeding, or (ii) has an adverse interest to us in any legal proceedings. Management is not aware of any other legal proceedings pending or that have been threatened against us or our properties.
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
No report required.
Item 3. Defaults Upon Senior Securities
No report required.
Item 4. Mine Safety Disclosures
Not applicable.
Item 5. Other Information
During the quarter ended July 31, 2026,
Item 6. Exhibits
| Exhibit | Description | |
| 31.1 | Certification of the Company’s Principal Executive Officer and Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002* | |
| 32.1 | Certification of the Company’s Principal Executive Officer and Principal Financial pursuant to 18 U.S.C. Section 1350, as adopted pursuant 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. |
| ** | Furnished and not filed |
| 16 |
SIGNATURES
Pursuant to the requirements 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.
| September 14, 2026 | Rapid Line Inc. | |
| By: | /s/ Richard Chiang | |
| Richard Chiang, President, Secretary, | ||
| Treasurer, Principal Executive Officer, | ||
| Principal Financial Officer and | ||
| Principal Accounting Officer and | ||
| Sole Director |
| 17 |