UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q

(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended ~~July~~October 31, 2019

☐	TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

	For the transition period from ______________ to ______________

Commission File Number 333-217387

CICLET HOLDINGS INC.

(Exact name of registrant as specified in its charter)

Nevada		N/A
(State or other jurisdiction of incorporation or organization)		(IRS Employer Identification No.)

B11 L12 Woodpecker Street Bougainvillea Village Agus Lapulapu City, Philipines 66015 CEBU
(Address of principal executive offices)		(Zip Code)

+ 639054201506

(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: None

Securities registered pursuant to Section 12(g) of the Act: OTC Pink Sheet, Common Stock, 175,000,000 authorized, $0.00001 par value

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒

Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒

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 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 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) 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

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY

PROCEEDINGS DURING THE PRECEDING FIVE YEARS

Check whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a court. ☐ YES ☐ NO

APPLICABLE ONLY TO CORPORATE ISSUERS

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

15,851,001 common shares issued and outstanding as of ~~June~~July 3012, 2021

FORM 10-Q

TABLE OF CONTENTS

PART I - FINANCIAL INFORMATION
Item 1.	Financial Statements	3
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	10
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	12
Item 4.	Controls and Procedures	12
PART II - OTHER INFORMATION
Item 1.	Legal Proceedings	13
Item 1A.	Risk Factors	13
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	13
Item 3.	Defaults Upon Senior Securities	13
Item 4.	Mine Safety Disclosures	13
Item 5.	Other Information	13
Item 6.	Exhibits	1314
SIGNATURES		1415

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PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

Our unaudited condensed interim financial statements for the ~~six~~nine-month period ended ~~July~~October 31, 2019 form part of this quarterly report. They are stated in United States Dollars (US$) and are prepared in accordance with United States Generally Accepted Accounting Principles.

CICLET HOLDINGS INC.

BALANCE SHEETS

(UNAUDITED)

	July 31, 2019			January 31, 2019
	October 31, 2019			January 31, 2019
ASSETS
Current Assets
Cash	$	14,365		$	14,029
Total Current Assets		14,365			14,029
TOTAL ASSETS	$	14,365		$	14,029
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Current Liabilities
Accounts payable and accrued liabilities	$	3540,~~834~~084		$	18,408
Due to related party		3,100			3,100
Total Current Liabilities		3843,~~934~~184			21,508
Total Liabilities		3843,~~934~~184			21,508
STOCKHOLDERS’ EQUITY (DEFICIT)
Common Stock:175,000,000 shares authorized; 15,851,001 shares issued and outstanding with par value of $0.00001 each		159			159
Additional paid-in capital		54,948			54,948
Accumulated deficit		(7983,~~676~~926	)		(62,586	)
Total Stockholders’ Equity (Deficit)		(2428,~~569~~819	)		(7,479	)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)	$	14,365		$	14,029

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

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CICLET HOLDINGS INC.

STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(UNAUDITED)

	Three Months Ended						~~Six~~Nine Months Ended
	July 31,						July 31,
	October 31,						October 31,
	2019			2018			2019			2018
OPERATING EXPENSES
Professional fees	$	84,~~426~~250		$	743,500		$	1721,~~426~~676		$	47,~~074~~574
General and administrative		-			~~806~~18			-			1,~~000~~018
Total Operating Expenses		84,~~426~~250			~~880~~3,518			1721,~~426~~676			58,~~074~~592
OTHER INCOME (EXPENSES)
Foreign exchange gain (loss)		~~244~~(7	)		(~~2,042~~220	)		~~323~~316			(2,~~319~~539	)
Interest income		7			177			1320			~~130~~137
Total Other Income (Expenses)		~~251~~-			(~~2,025~~213	)		336			(2,~~189~~402	)
NET LOSS AND COMPREHENSIVE LOSS	$	(84,~~175~~250	)	$	(23,~~905~~731	)	$	(1721,~~090~~340	)	$	(710,~~263~~994	)
Basic and diluted loss per share	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	(0.00	)
Basic and diluted weighted average number of common shares outstanding		15,851,001			15,851,001			15,851,001			15,851,001

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

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CICLET HOLDINGS INC.

STATEMENTS OF CHANGES IN STOCKHOLDERS’ DEFICIT

FOR THE THREE MONTHS AND ~~SIX~~NINE MONTHS ENDED ~~JULY~~OCTOBER 31, 2019 AND 2018

(UNAUDITED)

										Total
	Common Stock				Additional					Total
	Common Stock				Additional					Stockholders’
	Number of Shares		Amount		Paid-in Capital		Accumulated Deficit			Stockholders’ Equity (Deficit)
	Number of Shares		Amount		Paid-in Capital		Accumulated Deficit			Equity (Deficit)
Balance - January 31, 2019		15,851,001	$	159	$	54,948	$	(62,586	)	$	(7,479	)
Net loss		-		-		-		(8,915	)		(8,915	)
Balance - April 30, 2019		15,851,001	$	159	$	54,948	$	(71,501	)	$	(16,394	)
Net loss		-		-		-		(8,175	)		(8,175	)
Balance - July 31, 2019		15,851,001	$	159	$	54,948	$	(79,676	)	$	(24,569	)
Net loss		-		-		-		(4,250	)		(4,250	)
Balance - October 31, 2019		15,851,001	$	159	$	54,948	$	(83,926	)	$	(28,819	)

										Total
	Common Stock				Additional					Total
	Common Stock				Additional					Stockholders’
	Number of Shares		Amount		Paid-in Capital		Accumulated Deficit			Stockholders’ Equity (Deficit)
	Number of Shares		Amount		Paid-in Capital		Accumulated Deficit			Equity (Deficit)
Balance, January 31, 2018		15,851,001	$	159	$	54,948	$	(37,187	)	$	17,920
Net loss		-		-		-		(4,358	)		(4,358	)
Balance - April 30, 2018		15,851,001	$	159	$	54,948	$	(41,545	)	$	13,562
Net loss		-		-		-		(2,905	)		(2,905	)
Balance - July 31, 2018		15,851,001	$	159	$	54,948	$	(44,450	)	$	10,657
Net loss		-		-		-		(3,731	)		(3,731	)
Balance - October 31, 2018		15,851,001	$	159	$	54,948	$	(48,181	)	$	6,926

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

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CICLET HOLDINGS INC.

STATEMENTS OF CASH FLOWS

(UNAUDITED)

	Six Months Ended
	Nine Months Ended
	July 31,
	October 31,
	2019			2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$	(1721,~~090~~340	)	$	(710,~~263~~994	)
Changes in operating assets and liabilities:
Accounts payable and accrued liabilities		1721,~~426~~676			(1214,~~622~~872	)
Net cash provided by (used in) operating activities		336			(1925,~~885~~866	)
CASH FLOWS FROM FINANCING ACTIVITIES
Advances from related party		-			193
Net cash provided by financing activities		-			193
Net changes in cash and cash equivalents		336			(1925,~~692~~673	)
Cash and cash equivalents - beginning of period		14,029			39,339
Cash and cash equivalents - end of period	$	14,365		$	1913,~~647~~666
Supplemental Cash Flow Disclosures
Cash paid for interest	$	-		$	-
Cash paid for income taxes	$	-		$	-

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

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CICLET HOLDINGS INC.

NOTES TO THE UNAUDITED CONDENSED FINANCIAL STATEMENTS

FOR THE ~~SIX~~NINE MONTHS ENDED ~~JULY~~OCTOBER 31, 2019

NOTE 1 – NATURE OF BUSINESS

Ciclet Holdings Inc. (the “Company”) is a start-up company with a primary focus on developing software applications for location-based service (LBS) that uses location data to control features. The Company was incorporated in the State of Nevada on June 30, 2016. The Company’s operational office is in the Philippines.

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying unaudited interim financial statements are condensed and have been prepared in accordance with generally accepted accounting principles for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the ~~six~~nine months ended ~~July~~October 31, 2019 are not necessarily indicative of the results that may be expected for the year ending January 31, 2020. Notes to the unaudited interim financial statements that would substantially duplicate the disclosures contained in the audited financial statements for fiscal year 2019 have been omitted. This report should be read in conjunction with the audited financial statements and the footnotes thereto for the fiscal year ended January 31, 2019 included in the Company’s Form 10-K as filed with the Securities and Exchange Commission on June 14, 2021.

Use of Estimates

The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reported period. Actual results could differ from those estimates.

Reclassifications

Certain amounts in the prior period financial statements have been reclassified to conform to the current period presentation. These reclassifications had no effect on reported net (loss).

Cash

Cash comprises cash balances, cash on current accounts with banks, and bank deposits. As of ~~July~~October 31, 2019 and January 31, 2019, the Company has $14,365 and $14,029, respectively, in cash. The cash accounts are held in Philippine Pesos, and foreign exchange loss has been recorded, which is an insignificant amount as of ~~July~~October 31, 2019 and January 31, 2019.

Related Parties

The Company follows ASC 850, “Related Party Disclosures,” for the identification of related parties and disclosure of related party transactions (see Note 5).

Basic and Diluted Income (Loss) Per Share

The Company computes income (loss) per share in accordance with FASB ASC 260, “Earnings per Share,” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. 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.

No potentially dilutive debt or equity instruments were issued or outstanding during the periods ended ~~July~~October 31, 2019 and ~~July~~October 31, 2018.

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Software Development Costs

In accordance with FASB ASC 985 “Software,” all software development costs incurred prior to the establishment of technological feasibility are expensed. Technological feasibility of a software is established upon the completion of all planning, designing, coding and testing activities required to establish to meet its design specifications. Software development costs are capitalized after the determination of technological feasibility. These costs include coding and testing performed subsequent to establishing technological feasibility. When the software is fully developed and has reached its implementation stage, cost of maintenance and customer support are charged to expense when related revenue is recognized or when those costs are incurred, whichever occurs first. No software development costs have been incurred up to ~~July~~October 31, 2019.

Financial Instruments

The Company’s financial instruments consist of cash, accounts payable and accrued liabilities and due to shareholder. The carrying amount of such approximate their fair value due to the short maturity of the instrument.

Fair Value Measurement

ASC Topic 820, “Fair Value Measurements and Disclosures,” requires disclosure of the fair value of financial instruments held by the Company. ASC topic 825, “Financial Instruments,” defines fair value, and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. The three levels of valuation hierarchy are defined as follows: Level 1 - inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets. Level 2 – to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 3 – inputs to the valuation methodology are unobservable and significant to the fair value measurement.

Revenue Recognition

The Company recognizes revenue from its contracts with customers in accordance with ASC 606 – Revenue from Contracts with Customers. The Company recognizes revenues when satisfying the performance obligation of the associated contract that reflects the consideration expected to be received based on the terms of the contract.

Revenue related to contracts with customers is evaluated utilizing the following steps: (i) Identify the contract, or contracts, with a customer; (ii) Identify the performance obligations in the contract; (iii) Determine the transaction price; (iv) Allocate the transaction price to the performance obligations in the contract; (v) Recognize revenue when the Company satisfies a performance obligation.

The Company has not recognized any revenue since its inception.

Recent Accounting Pronouncements

In December 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (ASU 2019-12), which simplifies the accounting for income taxes. This guidance will be effective for entities for the fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020 on a prospective basis, with early adoption permitted. We will adopt the new standard effective February 1, 2021 and do not expect the adoption of this guidance to have a material impact on the Company’s financial statements.

In August 2018, the FASB issued ASU No. 2018-15, Internal-Use Software (Subtopic 350-40)—Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract (“ASU 2018-15”). ASU 2018-15 is effective for reporting periods beginning after December 15, 2019 and early adoption is permitted. ASU 2018-15 aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal use software license), by requiring a customer in a cloud computing arrangement that is a service contract to capitalize certain implementation costs as if the arrangement was an internal-use software project. The impact of this new standard on the Company’s financial statements is not material.

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In February 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-02, ”Leases” (“ASC 842”). The guidance requires lessees to recognize almost all leases on their balance sheet as a right-of-use asset and a lease liability. For income statement purposes, the FASB retained a dual model, requiring leases to be classified as either operating or finance. Lessor accounting is similar to the current model but updated to align with certain changes to the lessee model and the new revenue recognition standard. Existing sale-leaseback guidance, including guidance for real estate, is replaced with a new model applicable to both lessees and lessors. ASC 842 is effective for fiscal years beginning after December 15, 2018. The Company is evaluating the adoption of ASC 842, but do not expect the adoption of this guidance to have a material impact on the Company’s financial statements.

Management has considered all recent accounting pronouncements issued. The Company’s management believes that these recent pronouncements will not have a material effect on the Company’s financial statements.

NOTE 3 – GOING CONCERN

These financial statements have been prepared on a going concern basis, which implies that the Company will continue to realize its assets and discharge its liabilities in the normal course of business. During the ~~six~~nine months ended ~~July~~October 31, 2019, the Company incurred a net loss of $1721,~~090~~340. As of ~~July~~October 31, 2019, the Company had an accumulated deficit of $7983,~~676~~926. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholder, the ability to raise equity or debt financing, and the attainment of profitable operations from the Company’s future business. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These unaudited interim financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

NOTE 4 – COMMON STOCK

The Company’s authorized common stock consists of 175,000,000 shares with par value of $0.00001.

As of ~~July~~October 31, 2019 and January 31, 2019, the Company’s common stock issued and outstanding was 15,851,001 shares.

NOTE 5 – RELATED PARTY TRANSACTIONS

The amount due to related party consists of advances from the Company’s director. The amounts are non-interest bearing, have no set repayment terms and are not secured.

During the ~~six~~nine months ended ~~July~~October 31, 2019 and 2018, the director advanced the Company $nil and $193, respectively.

As of ~~July~~October 31, 2019 and January 31, 2019, the amount owing to the related party was $3,100 and $3,100, respectively.

NOTE 6 – RISKS AND UNCERTAINTIES

In early 2020, the World Health Organization declared the rapidly spreading coronavirus disease (COVID-19) outbreak a pandemic. This pandemic has resulted in governments worldwide enacting emergency measures to combat the spread of the virus. The Company considered the impact of COVID-19 on the assumptions and estimates used and determined that there were no retroactive material adverse impacts on the Company’s results of operations and financial position at ~~July~~October 31, 2019. The full extent of the future impacts of COVID-19 on the Company’s operations is uncertain. A prolonged outbreak could have a material adverse impact on financial results and business operations of the Company in the future. The Company is not aware of any specific event or circumstance that would require an update to its estimates or judgments or a revision of the carrying value of its assets or liabilities as of the date of issuance of these financial statements. These estimates may change, as new events occur and additional information is obtained.

NOTE 7 – SUBSEQUENT EVENTS

In accordance with ASC 855-10, the Company has analyzed its operations subsequent to the ~~July~~October 31, 2019 to the date these financial statements were issued and has determined that it does not have other material subsequent events to disclose in these financial statements.

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

FORWARD LOOKING STATEMENTS

This quarterly report contains forward-looking statements. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s 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 these forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.

Our unaudited financial statements are stated in United States Dollars (US$) and are prepared in accordance with United States Generally Accepted Accounting Principles. The following discussion should be read in conjunction with our financial statements and the related notes that appear elsewhere in this quarterly report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed below and elsewhere in this quarterly report.

As used in this quarterly report, the terms “we”, “us”, “our” and “our company” mean Ciclet Holdings Inc., unless otherwise indicated.

General Overview

We were incorporated on June 30, 2016 under the laws of the State of Nevada. Our registered statutory office is located at 723 S. Casino Centre Blvd., 2^nd Floor, Las Vegas, Nevada, 89101-6716, Tel: (702) 384-8727. Our fiscal year end is January 31. The Company’s operational office is in the Philippines.

The primary goal for our company is to allow consumers to find reliable and professional local services by using the location data of a person’s location through the use of a device that sends out the location of the person via their smart phone or tablet. We are a company focused on creating service driven apps and services for Location-based services (LBS) which are a general class of computer program-level services that use location data of a person’s location to control features. Our first market will be in the Philippines.

We are an early stage company. To date, our activities have been limited to the sourcing of a software developer, advertising channels, initial branding efforts, and in our formation and the raising of equity capital.

We do not have any subsidiaries.

We have never declared bankruptcy, been in receivership, or involved in any kind of legal proceeding.

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Results of Operations

We have not earned any revenues from our inception through ~~July~~October 31, 2019.

~~Three~~10 ~~months~~Table ~~ended~~of ~~July 31, 2019 compared to the three months ended July 31, 2018~~Contents

	Three Months Ended
	July 31,
	2019			2018			Changes			%
Operating expenses
Professional fees	$	8,426		$	74		$	8,352			11286	%
General and administrative		-			806			(806	)		(100	%)
Total operating expenses		8,426			880			7,546			858	%
Other income (expenses)		251			(2,025	)		2,276			(112	%)
Net Loss	$	(8,175	)	$	(2,905	)	$	(5,270	)		181	%

Three months ended October 31, 2019 compared to the three months ended October 31, 2018

During the three months ended July 31, 2019, we had incurred a net loss of $8,175 compared to $2,905 for the three months ended July 31, 2018. The increase in net loss was primarily due to an increase in professional fees.

	Three Months Ended
	October 31,
	2019			2018			Changes			%

Operating expenses
Professional fees	$	4,250		$	3,500		$	750			21	%
General and administrative		-			18			(18	)	(100		%)
Total operating expenses		4,250			3,518			732			21	%
Other income (expenses)		-			(213	)		213		(100		%)
Net Loss	$	(4,250	)	$	(3,731	)	$	(519	)		14	%

~~Six~~During the three months ended ~~July~~October 31, 2019, we had incurred a net loss of $4,250 compared to $3,731 for the ~~six~~three months ended July 31, 2018. The increase in net loss was primarily due to an increase in professional fees.

	Six Months Ended
	July 31,
	2019			2018			Changes			%
Operating expenses
Professional fees	$	17,426		$	4,074		$	13,352			328	%
General and administrative		-			1,000			(1,000	)		(100	%)
Total operating expenses		17,426			5,074			12,352			243	%
Other income (expenses)		336			(2,189	)		2,525			(115	%)
Net Loss	$	(17,090	)	$	(7,263	)	$	(9,827	)		135	%

Nine months ended October 31, 2019 compared to the nine months ended October 31, 2018

During the six months ended July 31, 2019, we had incurred a net loss of $17,090 compared to $7,263 for the six months ended July 31, 2018. The increase in net loss was primarily due to an increase in professional fees.

	Nine Months Ended
	October 31,
	2019			2018			Changes			%

Operating expenses
Professional fees	$	21,676		$	7,574		$	14,102			186	%
General and administrative		-			1,018			(1,018	)	(100		%)
Total operating expenses		21,676			8,592			13,084			152	%
Other income (expenses)		336			(2,402	)		2,738		(114		%)
Net Loss	$	(21,340	)	$	(10,994	)	$	(10,346	)		94	%

During the nine months ended October 31, 2019, we had incurred a net loss of $21,340 compared to $10,994 for the nine months ended October 31, 2018. The increase in net loss was primarily due to an increase in professional fees.

Liquidity and Capital Resources

	As of			As of
	July 31,			January 31,
	October 31,			January 31,
	2019			2019			Changes			%
Current Assets	$	14,365		$	14,029		$	336			2	%
Current Liabilities	$	3843,~~934~~184		$	21,508		$	1721,~~426~~676			81101	%
Working Capital (Deficiency)	$	(2428,~~569~~819	)	$	(7,479	)	$	(1721,~~090~~340	)		~~229~~285	%

As of October 31, 2019 and January 31, 2019, our total assets were $14,365 and $14,029, respectively.

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As of ~~July~~October 31, 2019 and January 31, 2019, our total ~~assets~~liabilities were $1443,~~365~~184 and $1421,~~029~~508, respectively.

AsStockholders’ ofdeficit ~~July~~was 31at $28,819 ~~2019~~as ~~and~~of ~~January~~October 31, 2019, ~~our~~compared ~~total~~to ~~liabilities were~~ $387,~~934~~479 ~~and~~as ~~$21~~of January 31,~~508,~~ ~~respectively~~2019.

~~Stockholders’~~As ~~deficit~~of ~~was~~October at31, ~~$24~~2019,~~569~~ aswe ofhad ~~July~~a ~~31,~~working ~~2019~~capital deficiency of $28,819 compared towith $7,479 as of January 31, 2019. The increase in working capital deficiency was primarily due to an increase in accounts payable and accrued liabilities.

As of July 31, 2019, we had a working capital deficiency of $24,569 compared with $7,479 as of January 31, 2019. The increase in working capital deficiency was primarily due to an increase in accounts payable and accrued liabilities.

	Nine Months Ended
	October 31,
	2019		2018			Changes			%

Cash flows provided by (used in) operating activities	$	336	$	(25,866	)	$	26,202		(101		%)
Cash flows provided by financing activities		-		193			(193	)		(100	%)
Net changes in cash	$	336	$	(25,673	)	$	26,009		(101		%)

	Six Months Ended
	July 31,
	2019		2018			Changes			%
Cash flows provided by (used in) operating activities	$	336	$	(19,885	)	$	20,221		(102	%)
Cash flows provided by financing activities		-		193			(193	)	(100	%)
Net changes in cash	$	336	$	(19,692	)	$	20,028		(102	%)

Cash Flow from Operating Activities

For the ~~six~~nine months ended ~~July~~October 31, 2019, net cash flows provided by operating activities was $336 attributed to a net loss of $1721,~~090~~340, decreased by an increase in accounts payable and accrued liabilities of $1721,~~426~~676.

For the ~~six~~nine months ended ~~July~~October 31, 2018, net cash flows used in operating activities was $1925,~~885~~866 attributed to a net loss of $710,~~263~~994, increased by ana ~~increase~~decrease in accounts payable and accrued liabilities of $1214,~~622~~872.

Cash Flow from Financing Activities

We had no financing activities during the ~~six~~nine months ended ~~July~~October 31, 2019.

For the ~~six~~nine months ended ~~July~~October 31, 2018, net cash from financing activities was $193 from related party advancement.

Off-Balance Sheet Arrangements

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 is material to an investor in our securities.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

As a “smaller reporting company”, we are not required to provide the information required by this Item.

Item 4. Controls and Procedures

Disclosure Controls and Procedures

Our management, with the participation of our Chief Executive Officer (our principal executive officer, principal financial officer and principal accounting officer), has evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a- 15(e) and 15d- 15(e) under the Securities Exchange Act of 1934, as amended (Exchange Act)), as of the end of the period covered by this Quarterly Report on Form 10-Q. Based on such evaluation, our Chief Executive Officer has concluded that as of such date, our disclosure controls and procedures were not effective such that the information relating to us required to be disclosed in our Securities and Exchange Commission (“SEC”) reports (i) is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms, and (ii) is accumulated and communicated to our management, including our chief executive officer and chief financial officer, as appropriate to allow timely decisions regarding required disclosure.

Changes in Internal Control Over Financial Reporting

During the period covered by this report there were no changes in our internal control over financial reporting that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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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.

Item 1A. Risk Factors

As a “smaller reporting company”, we are not required to provide the information required by this Item.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

None.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures

Not applicable.

Item 5. Other Information

None.

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Item 6. Exhibits

Exhibit Number		Description
(31)		Rule 13a-14 (d)/15d-14d) Certifications
31.1*		Section 302 Certification by the Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer
(32)		Section 1350 Certifications
32.1**		Section 906 Certification by the Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer
101*		Interactive Data File
101.INS		XBRL Instance Document
101.SCH		XBRL Taxonomy Extension Schema Document
101.CAL		XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF		XBRL Taxonomy Extension Definition Linkbase Document
101.LAB		XBRL Taxonomy Extension Label Linkbase Document
101.PRE		XBRL Taxonomy Extension Presentation Linkbase Document

_____________

* Filed herewith.

** XBRL Information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

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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.

		CICLET HOLDINGS INC.
		(Registrant)
Dated: June 30, 2021	By:	/s/ Eugenio L. Jumawan Jr.
Dated: July 22, 2021	By:	/s/ Eugenio L. Jumawan Jr.
		Eugenio L. Jumawan Jr.
		President, Secretary, Treasurer and Director
		(Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer)

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