10-Q
ULIXE CORP. (WRPT)
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 April 30, 2022
or
☐
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For
the transition period from to
Commission
file number: 333-252505
WarpSpeedTaxi Inc.
(Exact name of registrant as specified in its charter)
| Wyoming | 85-3978107 |
|---|---|
| State<br> or other jurisdiction of incorporation or organization | (I.R.S.<br> Employer Identification No.) |
2661 Rosanna Drive, Las Vegas NV 89117
(Address of principal executive offices) (Zip Code)
(269) 692-9418
Registrant’s
telephone number, including area code
N/A
(Former name, former address and former fiscal year, if changed since last report)
Securities
registered under Section 12(b) of the Exchange Act:
None
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 and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted 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 and post such files). Yes ☐ No ☒
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.
| Large<br> accelerated filer | ☐ | Accelerated<br> filer | ☐ |
|---|---|---|---|
| Non-accelerated<br>filer | ☐ | Smaller<br> 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 check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.
239,370,000 shares of common stock are issued and outstanding as of June 2, 2022.
Table
of Contents
| INDEX | ||
|---|---|---|
| Page | ||
| PART I | FINANCIAL INFORMATION | |
| Item<br> 1. | Financial<br> Statements (unaudited) | |
| BALANCE<br> SHEETS as of April 30, 2022 and July 31, 2021 | 2 | |
| STATEMENTS<br> OF OPERATIONS for the three and nine months ended April 30, 2022 and three months ended April<br> 30, 2021 | 3 | |
| STATEMENT<br> OF EQUITY for the nine months ended April 30, 2022 and three months ended April 30, 2021 | 4 | |
| STATEMENT<br> OF CASH FLOWS for the nine months ended April 30, 2022 and three months ended April 30, 2021 | 5 | |
| NOTES<br> TO THE UNAUDITED INTERIM FINANCIAL STATEMENTS | 6 | |
| Item<br> 2. | Management’s<br> Discussion and Analysis of Financial Condition and Results of Operations | 8 |
| Item<br> 3 | Quantitative<br> and Qualitative Disclosures About Market Risk | |
| Item<br> 4. | Controls<br> and Procedures | 10 |
| PART<br> II | OTHER<br> INFORMATION | |
| Item<br> 1. | Legal<br> Proceedings | 11 |
| Item<br> 1A. | Risk<br> Factors | 11 |
| Item<br> 2. | Unregistered<br> Sales of Equity Securities and Use of Proceeds | 11 |
| Item<br> 3. | Defaults<br> Upon Senior Securities. | 11 |
| Item<br> 4 | Mine<br> Safety Disclosures | 11 |
| Item<br> 5. | Other<br> Information | 11 |
| Item<br> 6. | Exhibits | 12 |
| SIGNATURES | 13 |
i
PART
I FINANCIAL INFORMATION
Certain information and footnote disclosures required under accounting principles generally accepted in the United States of America have been condensed or omitted from the following financial statements pursuant to the rules and regulations of the Securities and Exchange Commission. It is suggested that the following financial statements be read in conjunction with the year-end financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended July 31, 2021 in the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature.
The results of operations for the three and nine months ended April 30, 2022 are not necessarily indicative of the results for the entire fiscal year or for any other period.
1
WARPSPEED TAXI INC.UNAUDITED CONDENSED BALANCE SHEET
As of April 30, 2022 and July 31, 2021
| July 31, | |||
|---|---|---|---|
| 2021 | |||
| ASSETS | |||
| Current assets: | |||
| Cash | 10,207 | 17,194 | |
| Prepayment & deposits | 15,000 | 35,000 | |
| Total current assets: | 25,207 | 52,194 | |
| Fixed assets: | |||
| Software | 316,360 | 304,134 | |
| Total Fixed assets: | 316,360 | 304,134 | |
| Total Assets: | 341,568 | 356,328 | |
| LIABILITIES & STOCKHOLDER’S EQUITY | |||
| LIABILITIES | |||
| Current liabilities: | |||
| Accounts payable and accrued liabilities | 116,159 | 81,593 | |
| Total current liabilities: | 116,159 | 81,593 | |
| Long term liabilities: | |||
| Notes payable | - | 250,000 | |
| Total long term liabilities: | - | 250,000 | |
| Total Liabilities: | 116,159 | 331,593 | |
| STOCKHOLDER’S<br> EQUITY | |||
| Common stock:<br> 0.0001 par value, 500,000,000 authorized, 239,370,000 issued and outstanding as of April 30, 2022,<br> 242,040,000 issued and outstanding as of July 31, 2021, respectively. | 23,937 | 24,204 | |
| Additional paid in capital | 585,963 | 20,696 | |
| Accumulated deficit | (384,492 | (20,165 | |
| Total Stockholder’s Equity: | 225,408 | 24,735 | |
| Total Liabilities and Stockholder’s Equity: | 341,568 | 356,328 |
All values are in US Dollars.
(The accompanying notes are an integral part of these unaudited condensed financial statements)
2
WARPSPEED TAXI INC.
UNAUDITED CONDENSED STATEMENT OF COMPREHENSIVE LOSS
| For the Three Months | For the Three Months | For the Nine Months | ||||
|---|---|---|---|---|---|---|
| Ended<br><br>April 30 | Ended<br><br>April 30 | Ended<br><br>April 30 | ||||
| 2022 | 2021 | 2022 | ||||
| Expenses: | ||||||
| General and administrative | 256,011 | 18,100 | 364,326 | |||
| Net Loss: | (256,011 | (18,100 | (364,326 | |||
| Net loss per share – basic and diluted | -0.00 | -0.00 | -0.00 | |||
| Weighted average shares outstanding – basic and diluted | 239,370,000 | 242,040,000 | 239,370,000 |
All values are in US Dollars.
(The accompanying notes are an integral part of these unaudited condensed financial statements)
3
WARPSPEED TAXI INC.
UNAUDITED CONDENSED STATEMENT OF STOCKHOLDER’S EQUITY
For the nine months period ended April 30, 2022 and three months ended April 30, 2021
| Common Stock | Paid in | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Number | Par Value | Capital | Total | |||||||
| Opening Balance, January 31, 2021 | 241,000,000 | 24,100 | - | (1,604 | 22,496 | |||||
| Issuance of common stock | 1,040,000 | 104 | 20,696 | - | 20,800 | |||||
| Net Loss | - | - | - | (18,100 | (18,100 | |||||
| Closing Balance, April 30, 2021 | 242,040,000 | 24,204 | 20,696 | -19,704 | 25,196 | |||||
| Opening Balance, July 31, 2021 | 242,040,000 | 24,204 | 20,696 | (20,165 | 24,735 | |||||
| Issuance of common stock | 23,330,000 | 2,333 | 562,667 | - | 565,000 | |||||
| Cancellation of common stock | (26,000,000 | ) | (2,600 | 2,600 | - | - | ||||
| Net Loss | - | - | - | (364,326 | (364,326 | |||||
| Closing Balance, April 30, 2022 | 239,370,000 | 23,937 | 585,963 | (384,492 | 225,408 |
All values are in US Dollars.
(The accompanying notes are an integral part of these unaudited condensed financial statements)
4
WARPSPEED TAXI INC.
UNAUDITED CONDENSED STATEMENT OF CASH FLOWS
For the nine months period ended April 30, 2022 and three months ended April 30, 2021
| For the Nine Months | For the Three Months | |||
|---|---|---|---|---|
| Ended April 30 | Ended April 30 | |||
| 2022 | 2021 | |||
| Cash flows from operating activities: | ||||
| Net loss for the period | ) | ) | ||
| Change in operating assets and liabilities: | ||||
| Prepayment & deposits | ||||
| Accounts payable and accrued liabilities | ||||
| Notes payable | ) | |||
| Net cash used in operating activities: | ) | |||
| Cash flows from investing activities: | ||||
| Software development | ) | ) | ||
| Net cash used in investing activities: | ) | ) | ||
| Cash flows from financing activities: | ||||
| Proceeds from issuance of common stock, net of cancellations | ) | |||
| Additional paid in capital | ||||
| Net cash used in financing activities: | ||||
| Change in cash | ) | |||
| Cash – beginning of period | ||||
| Cash – end of period | ||||
| Supplemental cash flow disclosures | ||||
| Cash paid For: | ||||
| Interest | ||||
| Income tax |
All values are in US Dollars.
(The accompanying notes are an integral part of these unaudited condensed financial statements)
5
WARPSPEED
TAXI INC.
NOTES
TO CONDENSED INTERIM FINANCIAL STATEMENTS
For
the three and nine months ended April 30, 2022
(unaudited)
1. NATURE
AND CONTINUANCE OF OPERATIONS
WarpSpeed Taxi Inc. (the “Company”) was incorporated in the state of Wyoming on November 18, 2020 (“Inception”). The Company is a development stage company that is currently developing a ride-hailing and food delivery computer and mobile device application known as “WarpSpeed Taxi”.
2. GOING
CONCERN
These
financial statements have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company has incurred a net loss for the three months ended April 30, 2022 of $256,011, resulting in an accumulated deficit of $384,492 as of April 30, 2022 and further losses are anticipated in the development of its business raising substantial doubt about the Company’s ability to continue as a going concern. In order to remain in business, the Company will need to raise capital in the next twelve months. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with existing cash on hand and proceeds from its public offering. The Company has no written or verbal commitments from stockholders, director or officer to provide the Company with any form of cash advances, loans or other sources of liquidity to meet its working capital needs. The accompanying financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the possible inability of the Company to continue as a going concern.
3. SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES
Basisof Presentation
These financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. The Company has selected July 31 as its year-end. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of its financial position and the results of operations have been reflected herein.
Cashand Cash Equivalents
The
Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. The Company maintains cash and cash equivalent balances at one financial institution that is insured by the FDIC. As of April 30, 2022, the Company had $10,207 in cash.
Basicand Diluted Loss per Share
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 April 30, 2022 there were no potentially dilutive debt or equity instruments issued or outstanding.
Useof Estimates and Assumptions
The preparation of consolidated 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 of the consolidated financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates.
Due to the limited level of operations, the Company has not had to make material assumptions or estimates other than the assumption that the Company is a going concern.
6
4. CAPITAL
STOCK
The
total number of common shares authorized that may be issued by the Company is 500,000,000 shares with a par value of $0.0001 per share.
On
December 30, 2020, the Company issued 141,000,000 shares of common stock for total cash proceeds of $14,100 to the Company’s parent company.
On
January 26, 2021, the Company issued 100,000,000 shares of common stock for total cash proceeds of $10,000 to one of its directors.
On
April 22, 2021, the Company issued 1,040,000 shares of common stock to 36 subscribers for total cash proceeds of $20,800.
During
the nine months ended April 30, 2022, the Company issued 23,330,000 shares of common stock to six shareholders for total cash proceeds of $565,000. The Company also cancelled 26,000,000 shares of common stock for no monetary amount.
7
ITEM 2. Management’s Discussion and Analysis of FinancialConditions and Results of Operations.
Forward Looking Statements
This quarterly report contains forward-looking statements that involve risks and uncertainties. We use words such as anticipate, believe, plan, expect, future, intend and similar expressions to identify such forward-looking statements. You should not place too much reliance on these forward-looking statements. Our actual results are likely to differ materially from those anticipated in these forward-looking statements for many reasons, including the risks faced by us described in this section.
Description of Business
We were incorporated on November 18, 2020 under the laws of the State of Wyoming.
We intend to complete the development of and operate a ride-hailing and food delivery computer and mobile device application known as “WarpSpeedTaxi”. A ride-hailing service, also known as app-taxi, e-taxi, or a mobility service provider, is a service that, via websites and mobile apps, matches passengers with drivers of vehicles for hire that are not licensed taxi drivers. The computer application that we are developing is intended to provide travelers with convenient door-to-door transport that leverages smart mobility platforms to connect drivers with passengers and lets drivers use their personal vehicles. Ride-hailing, like a traditional taxi service, facilitates drivers providing rides to customers for a fee. However, ride-hailing offers additional capabilities, such as efficient pricing tools, matching platforms, rating systems, and food delivery.
We were originally incorporated as a subsidiary of Cyber Apps World, Inc. (“Cyber Apps”), a reporting company, and entered into an agreement dated December 20, 2020 to acquire the WarpSpeedTaxi application in its current phase of development from Limitless Projects Inc. (“Limitless”), a private Wyoming corporation, for total consideration of $300,000 payable in stages. Our acquisition of the application was to include a 100% interest in all software comprising the application, as well as the corresponding website domain, content, and all incorporated technology. We would also jointly own the operational data and databases relating to the application with the vendor.
On January 19, 2022, we entered into an agreement whereby we terminated this asset purchase and sale agreement with Limitless due to our inability to make a required payment pursuant to that agreement.
Pursuant to the terms of the termination agreement, Limitless has reimbursed us the $10,000 cash payment that we made to it upon the execution of the original agreement. Additionally, our directors at the time, who were also the directors of Cyber Apps, resigned and appointed Daniel Okelo, the president of Limitless, in their place. Cyber Apps also transferred the 115,000,000 shares of common stock in our capital that it owned to Limitless for consideration of $14,100.
We anticipate that our WarpSpeedTaxi application will allow customers to hire a standard and luxury motor vehicles via a smartphone or personal computer for both one-way and round-trips with the price based on the distance travelled and the current level of demand for vehicles. In addition to transporting passengers, the application may also be used for deliveries of goods from restaurants, grocery stores, and other businesses that typically utilize local vehicle courier services.
Customers will use the application to request a ride or the delivery of goods. Drivers that we recruit and approve, through confirmation of no criminal record, a clean driving history, and access to a suitable insured vehicle, will act as independent contractors and set their own work hours. They will connect with customers via our application, pick up customers or goods to be delivered in accordance with the customer’s request, and then drive the customers or goods to their destination. Customers will pay for the transportation through the application by way of credit card. Drivers will receive payments for each ride or delivery they complete via a weekly direct deposit to their bank accounts.
8
When a customer uses the WarpSpeedTaxi application for ride-hailing, we will charge the customer a flat fee of approximately $2.00 for each ride plus an amount for each mile that the customer travels. The amount for each mile will vary depending on the city in which the customer is located. It will be higher in more densely populated cities where traffic moves relatively slowly and lower in less densely population cities will less traffic congestion. Additionally, we will charge customers an additional premium during busy times when customer demand exceeds the number of available drivers. This increase in pricing is intended to incentivize drivers to work during peak demand times since they will receive greater compensation. In order to encourage drivers to work an independent contractor for us, we will initially retain 15% of all revenue that a customer pays for a ride with the remaining 85% compensating the driver for his or her time and vehicle expenses. Drivers will also retain 100% of all tips that customers provide them. Over time, when we have established a market for our services, we may adjust this percentage so that we retain a greater percentage of revenue.
When a restaurant uses the food delivery service feature of our WarpSpeedTaxi application, we will charge restaurants between 5% and 15% of their order revenue, subject to a set minimum amount, depending on the amount of business that we receive from delivery orders of their food through our application. From these proceeds, we will pay our drivers a base fee for deliveries that depend on the distance that they must travel to pick up the food and deliver it to the customer. In addition, the driver will retain any tips that the customer provides.
We are currently in the beta testing phase of the WarpSpeedTaxi application, which is being conducted in Ahmedabad, India. We have retained an independent contractor, Global Corporate Structural Services Limited., a private company with operations in India, Albania, and the Philippines, to oversee the development, maintenance, and testing of the WarpSpeed Taxi computer application.
Results of Operations for the three months andnine months Ended April 30, 2022
Our net loss for the three and nine-month period ended April 30, 2022 was $256,011 and $364,326, respectively, which consisted entirely of general and administrative fees. We did not generate any revenue during either three- or nine-month period in fiscal 2022.
LIQUIDITY AND CAPITAL RESOURCES
As of April 30, 2022, our current assets were $25,207 compared to $52,194 on July 31, 2021. The decrease in current assets in the current fiscal year is due to operating expenses that we have incurred with the development and testing of our WarpSpeed Taxi application.
As of April 30, 2022, our current liabilities were $116,159 compared to $81,593 on July 31, 2021. Current liabilities on April 30, 2022 were comprised entirely of accounts payable and accrued liabilities. Current liabilities increased in the nine-month period ended April 30, 2022 as compared to the July 31, 2021 year end due to operating costs.
We expect we will require additional capital to meet our long-term operating requirements. We expect to raise additional capital through, among other methods, the sale of equity or debt securities.
Cash Flows from Operating Activities
We have not generated positive cash flows from operating activities. For the nine-month period ended April 30, 2022, net cash flows used in operating activities were $559,760 consisting of a net loss of $364,326, which was offset by prepayments and deposits of $20,000, payments on our accounts payable and accrued liabilities $34,566, and the cancellation of our note payable of $250,000.
Cash Flows from Investing Activities
For the nine-month period ended April 30, 2022, our cash flows used in investing activities were $12,226, which consisted of the software development costs relating to the WarpSpeed Taxi computer application.
Cash Flows from Financing Activities
We have financed our operations from the issuance of our shares of common stock. Net cash flows generated from financing activities were $565,000 in the nine-month period ended April 30, 2022 relating to our sale of 23,330,000 shares of common stock at a price of $0.02 and 80,000 shares of common stock at a price of $1.25 pursuant to our registration statement on Form S-1, as amended.
9
OFF-BALANCE SHEET ARRANGEMENTS
As of the date of this 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 independent auditors' report accompanying our July 31, 2021 financial statements contained an explanatory paragraph expressing substantial doubt about our ability to continue as a 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.
Item 4. Controls and Procedures.
As supervised by our board of directors and our principal executive and principal financial officer, management has established a system of disclosure, controls and procedures and has evaluated the effectiveness of that system. The system and its evaluation are reported on in the below Management's Annual Report on Internal Control over Financial Reporting. Our principal executive and financial officer has concluded that our disclosure, controls and procedures (as defined in Securities Exchange Act of 1934 (“Exchange Act”) Rule 13a-15(e)) as of April 30, 2022, were not effective, based on the evaluation of these controls and procedures required by paragraph (b) of Rule 13a-15.
Management's Annual Report on Internal Control over Financial Reporting
Management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Rule 13a-15(f) of the Exchange Act. Internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with U.S. generally accepted accounting principles.
Management assessed the effectiveness of internal control over financial reporting as of April 30, 2022. We carried out this assessment using the criteria of the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control—Integrated Framework.
This annual report does not include an attestation report of our registered public accounting firm regarding internal control over financial reporting. Management's report was not subject to attestation by our registered public accounting firm, pursuant to rules of the Securities and Exchange Commission that permit us to provide only management's report in this annual report. Management concluded in this assessment that as of April 30, 2022, our internal control over financial reporting is not effective.
There have been no significant changes in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the third quarter of our 2022 fiscal year 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.
None
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
None
Item 3. Defaults Upon Senior Securities.
None.
Item 4. Mine Safety
Not Applicable.
Item 5. Other Information
None.
11
PART II
Item 6. Exhibits.
Copies of the following documents are included as exhibits to this report pursuant to Item 601 of Regulation S-K.
| SEC Ref. No. | Title of Document |
|---|---|
| 101.INS | XBRL Instance Document |
| 101.SCH | XBRL Taxonomy Extension Schema Document |
| 101.CAL | XBRL Taxonomy Calculation Linkbase Document |
| 101.DEF | XBRL Taxonomy Extension Definition Linkbase Document |
| 101.LAB | XBRL Taxonomy Label Linkbase Document |
| 101.PRE | XBRL Taxonomy Presentation Linkbase Document |
The XBRL related information in Exhibits 101 to this Annual Report on Form 10-K shall not be deemed “filed” or a part of a registration statement or prospectus for purposes of Section 11 or 12 of the Securities Act of 1933, as amended, and is not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of those sections.
12
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.
| WarpSpeed Taxi Inc. | |
|---|---|
| Dated:<br>June 2, 2022 | /s/ Daniel Okelo |
| Daniel Okelo | |
| President, Chief Executive Officer, Chief Financial Officer, principal accounting officer and director |
13
EXHIBIT31.1
CERTIFICATIONS
I, Daniel Okelo, certify that:
1. I have reviewed this quarterly report on Form 10-Q of WarpSpeed Taxi Inc.;
2. Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;
3. Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;
4. I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e))and internal control over financial reporting (as defined in Exchange Act Rules 13(a)-15(f) and 15(d)-15(f)) for the registrant and I have:
(a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
(c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
(d) disclosed in this quarterly report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.
5. I have disclosed, based on my most recent evaluation of internal controls over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
(a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
(b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
Dated: June 2, 2022
By: /s/ Daniel Okelo
Daniel Okelo
President, Chief Executive Officer, Chief Financial Officer,
principal accounting officer and director
EXHIBIT31.2
CERTIFICATIONS
I, Daniel Okelo, certify that:
1. I have reviewed this quarterly report on Form 10-Q of WarpSpeed Taxi Inc.;
2. Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;
3. Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;
4. I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e))and internal control over financial reporting (as defined in Exchange Act Rules 13(a)-15(f) and 15(d)-15(f)) for the registrant and I have:
(a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
(c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
(d) disclosed in this quarterly report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.
5. I have disclosed, based on my most recent evaluation of internal controls over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
(a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
(b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
Dated: June 2, 2022
By: /s/ Daniel Okelo
Daniel Okelo
President, Chief Executive Officer, Chief Financial Officer,
principal accounting officer and director
EXHIBIT 32.1
CERTIFICATION PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
The undersigned, Daniel Okelo, Chief Executive Officer and Chief Financial Officer of WarpSpeed Taxi Inc. (the “Company”) hereby certifies pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:
(a) the Quarterly Report on Form 10-Q of the Company for the period ended April 30, 2022 (the “Report”) fully complies with the requirements of Section 13(a) or Section 15(d), as applicable, of the Securities Exchange Act of 1934, as amended; and
(b) the information contained in the Form 10-Q fairly presents, in all material respects, the financial condition and results of operations of the Company.
Dated: June 2, 2022
By: /s/ Daniel Okelo
Daniel Okelo
President, Chief Executive Officer, Chief Financial Officer,
principal accounting officer and director
EXHIBIT 32.2
CERTIFICATION PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
The undersigned, Daniel Okelo, Chief Executive Officer and Chief Financial Officer of WarpSpeed Taxi Inc. (the “Company”) hereby certifies pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:
(a) the Quarterly Report on Form 10-Q of the Company for the period ended April 30, 2022 (the “Report”) fully complies with the requirements of Section 13(a) or Section 15(d), as applicable, of the Securities Exchange Act of 1934, as amended; and
(b) the information contained in the Form 10-Q fairly presents, in all material respects, the financial condition and results of operations of the Company.
Dated: June 2, 2022
By: /s/ Daniel Okelo
Daniel Okelo
President, Chief Executive Officer, Chief Financial Officer,
principal accounting officer and director