NOTES
TO UNAUDITED FINANCIAL STATEMENTS
SEPTEMBER
30, 2020
NOTE
A – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A
summary of significant accounting policies of Sigmarenopro, Inc. (the Company) is presented to assist in understanding the Company’s
financial statements. The accounting policies presented in these footnotes conform to accounting principles generally accepted
in the United States of America and have been consistently applied in the preparation of the accompanying financial statements.
These financial statements and notes are representations of the Company’s management who are responsible for their integrity
and objectivity. The Company has not realized revenues from its planned principal business purpose.
Organization,
Nature of Business and Trade Name
Sigmarenopro,
Inc. (the Company) was incorporated in the State of Nevada on June 16, 2017. Sigmarenopro, Inc. intends to provide home project
owners with contractor match making services in the U.S. Their customized match making service helps homeowners converge with
professional contractors. They also intend to create a collection of articles intended to help homeowners with home project information,
including how to outline project requirements, select the right contractor, interview contractors, draw up a project contract
and settle disputes with contractors. Their service is deigned to be free for all homeowners to use and post their projects and
plan to build a network of professionally-skilled contractors who provide a broad array of construction and renovation services
for everything from changing light fixtures to complete kitchen renovation, and from housecleaning services to new construction.
The
Company’s principal office is in Kiryat Motzkin, Israel.
The
Company’s activities are subject to significant risks and uncertainties including failing to secure additional funding to
operationalize the Company’s website and apps before another company develops similar websites or apps.
Basis
of Presentation
The
accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United
States of America, and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”)
and reflect all adjustments, consisting of normal recurring adjustments, which management believes are necessary to fairly present
the financial position, results of operations and cash flows at September 30, 2020 and for the related periods presented.
Property
and Equipment
Property
and equipment are carried at cost. Expenditures for maintenance and repairs are charged against operations. Renewals and betterments
that materially extend the life of the assets are capitalized. When assets are retired or otherwise disposed of, the cost and
related accumulated depreciation are removed from the accounts, and any resulting gain or loss is reflected in income for the
period.
Depreciation
is computed for financial statement purposes on a straight-line basis over estimated useful lives of the related assets. The estimated
useful lives of depreciable assets are:
|
Estimated
Useful Lives
|
Office
Equipment
|
5-10
years
|
Copier
|
5-7
years
|
Vehicles
|
5-10
years
|
For
federal income tax purposes, depreciation is computed under the modified accelerated cost recovery system. For financial statements
purposes, depreciation is computed under the straight-line method.
The
Company has been in the developmental stage since inception and has no operations to date. The Company currently does not have
any property and equipment. The above accounting policies will be adopted upon the Company maintains property and equipment.
Cash
and Cash Equivalents
For
purposes of the statement of cash flows, the Company considers all short-term debt securities purchased with maturity of three
months or less to be cash equivalents.
Recent
Accounting Pronouncements
We
have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements
will have a material impact on the Company.
Revenue
recognition
The
Company’s revenue recognition policies are in compliance with FASB ASC 605-35 “Revenue Recognition”. Revenue
is recognized when a formal arrangement exists, the price is fixed or determinable, all obligations have been performed pursuant
to the terms of the formal arrangement and collectability is reasonably assured. The Company recognizes revenues on sales
of its services, based on the terms of the customer agreement. The customer agreement takes the form of either a contract
or a customer purchase order and each provides information with respect to the service being sold and the sales price. If
the customer agreement does not have specific delivery or customer acceptance terms, revenue is recognized at the time the service
is provided to the customer.
Fair
Value of Financial Instruments
The Company applies fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that
are recognized or disclosed at fair value in the financial statements on a recurring basis. The Company defines fair value as
the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market
participants at the measurement date. When determining the fair value measurements for assets and liabilities, which are required
to be recorded at fair value, the Company considers the principal or most advantageous market in which the Company would transact
and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such
as risks inherent in valuation techniques, transfer restrictions and credit risk. Fair value is estimated by applying the following
hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy
upon the lowest level of input that is available and significant to the fair value measurement:
Level
1 – Quoted prices in active markets for identical assets or liabilities.
Level
2 – Observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices
for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated
by observable market data for substantially the full term of the assets or liabilities.
Level
3 – Inputs that are generally unobservable and typically reflect management’s estimate of assumptions that market
participants would use in pricing the asset or liability.
In
accordance with the fair value accounting requirements, companies may choose to measure eligible financial instruments and certain
other items at fair value. The Company has not elected the fair value option for any eligible financial instruments.
As
of September 30, 2020, the carrying value of loans that are required to be measured at fair value, approximated fair value due
to the short-term nature and maturity of these instruments.
Advertising
Advertising
expenses are recorded as general and administrative expenses when they are incurred.
Use
of Estimates
The
preparation of financial statements in accounting principles generally accepted in the United States of America requires management
to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets
and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting
period. A change in managements’ estimates or assumptions could have a material impact on Sigmarenopro, Inc.’s
financial condition and results of operations during the period in which such changes occurred. Actual results could differ from
those estimates. Sigmarenopro, Inc.’s financial statements reflect all adjustments that management believes are necessary
for the fair presentation of their financial condition and results of operations for the periods presented.
Capital
Stock
The
Company has authorized Seventy Five Million (75,000,000) shares of common stock with a par value of $0.001. Four Million Five
Hundred and Thousand (4,500,000) shares of common stock were issued and outstanding as of September 30, 2020.
Income
Taxes
The
Company recognizes the tax effects of transactions in the year in which such transactions enter into the determination of net
income, regardless of when reported for tax purposes.
NOTE
B – GOING CONCERN
The
Company's financial statements are prepared using accounting principles generally accepted in the United States of America applicable
to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business.
However, the Company does not have an established source of revenues sufficient to cover its operating costs and to allow it to
continue as a going concern.
Under
the going concern assumption, an entity is ordinarily viewed as continuing in business for the foreseeable future with neither
the intention nor the necessity of liquidation, ceasing trading, or seeking protection from creditors pursuant to laws or regulations.
Accordingly, assets and liabilities are recorded on the basis that the entity will be able to realize its assets and discharge
its liabilities in the normal course of business.
The
ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plan described
in the Business paragraph and eventually attain profitable operations. The accompanying financial statements do not include any
adjustments that may be necessary if the Company is unable to continue as a going concern.
During
the next year, the Company’s foreseeable cash requirements will relate to continual development of the operations of its
business, maintaining its good standing and making the requisite filings with the Securities and Exchange Commission, and the
payment of expenses associated with app development. The Company may experience a cash shortfall and be required to raise additional
capital.
Historically,
it has mostly relied upon internally generated funds and funds from the sale of shares of stock to finance its operations and
growth. Management may raise additional capital through future public or private offerings of the Company’s stock or through
loans from private investors, although there can be no assurance that it will be able to obtain such financing. The Company’s
failure to do so could have a material and adverse effect upon it and its shareholders.
In
the past year, the Company funded operations by using cash proceeds received through the issuance of common stock. For the coming
year, the Company plans to continue to fund the Company through debt and securities sales and issuances until the company generates
enough revenues through the operations as stated above.
NOTE
C – COMMON STOCK
On
June 2017, Company issued 1,150,000 Common Shares to the director of the company at $0.008 per share for cash proceeds of $9,200.
On
June 2017, Company issued 1,150,000 common shares to the secretary of the company at $0.008 per share for cash proceeds of $9,200.
On
April 2018, Company issued 560,000 common shares to the various shareholder of the company at $0.025 per share for cash proceeds
of $14,000.
On
May 2018, Company issued 640,000 common shares to the various shareholder of the company at $0.025 per share for cash proceeds
of $16,000.
On
June 2018, Company issued 1,000,000 common shares to the various shareholder of the company at $0.025 per share for cash proceeds
of $25,000.
There
were 4,500,000 and 4,500,000 shares of common stock issued and outstanding as of September 30, 2020 and June 30, 2020 respectively.
NOTE
D – RELATED PARTY TRANSACTIONS
On
June 2017, Company issued 1,150,000 Common Shares to the director of the company at $0.008 per share for cash proceeds of $9,200.
(Refer Note C)
On
June 2017, Company issued 1,150,000 Common Shares to the secretary of the company at $0.008 per shares for cash proceeds of $9,200.
(Refer Note C)
The
Company received loans from Aamar Omar, Director of the Company towards various operating expenses. During the year ended June
30, 2018 and 2019, the Company received a loan totaling $5,000 and $1,000 towards operating expenses. The loans are unsecured,
non-interest bearing and due on demand.
As
of September 30, 2020 and June 30, 2020, $6,000 and $6,000 respectively was due to Aamar Omar, Director of the Company.
NOTE
E – TRUST ACCOUNT
Trust
account (cash equivalent) is held by a law firm which provides periodic statement and pay the bills on behalf of Sigmarenopro.
Law firm charges fees for managing the trust account
NOTE
F – PREPAID EXPENSES
Prepaid
expenses for the three months ending September 30, 2020 consist of $400 towards share transfer fee expenses paid to Globex, $100
towards registered agent fees and June 30, 2020 consists of $700 towards share transfer fee expenses paid to Globex, $138 towards
registered agent fees.
Prepaid
expenses as of September 30, 2020 and June 30, 2020 is $500 and $838 respectively.
NOTE
G – SHORT TERM FUND
Company
engaged Mussa Dahoud, to sell services to the prospective customers and deposit the money in the company escrow account. During
the three months ended June 30, 2020 total amount of $ 4,116 was deposited by him. Since Mussa Dahoud, didn’t provide the
full list of prospective customer details, it’s held as short-term fund. Company will return the fund to the agent Mussa
Dahoud, if he fails to provide the correct customer information.
NOTE
H – RESTATEMENT
The
following are previously recorded and restated balances as of September 30, 2019, for the year ended June 30,2020.
Sigmarenopro,
Inc
|
Balance
Sheets
|
|
|
|
|
|
|
|
|
|
September
30,
|
|
September
30,
|
|
September
30,
|
|
|
2019
|
|
2019
|
|
2019
|
|
|
(As
Previously Reported)
|
|
(Restatement
Adjustments)
|
|
(As
Restated)
|
ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash
held in trust
|
|
$
|
13,246
|
|
|
$
|
—
|
|
|
$
|
13,246
|
|
Prepaid
expenses
|
|
|
303
|
|
|
|
—
|
|
|
|
303
|
|
Advances
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
Total
current assets
|
|
|
13,549
|
|
|
|
—
|
|
|
|
13,549
|
|
Total
assets
|
|
$
|
13,549
|
|
|
$
|
—
|
|
|
$
|
13,549
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES
AND STOCKHOLDERS' EQUITY
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
Due
to related parties
|
|
$
|
5,000
|
|
|
$
|
1,000
|
|
|
$
|
6,000
|
|
Total
current liabilities
|
|
$
|
5,000
|
|
|
$
|
1,000
|
|
|
$
|
6,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commitments
and contingencies
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
STOCKHOLDERS’
EQUITY:
|
|
|
|
|
|
|
|
|
|
|
|
|
Common
stock: $0.001 par value, 75,000,000 shares authorized, 4,500,000 and 4,500,000 shares issued and outstanding as of September
30, 2019, respectively
|
|
$
|
4,500
|
|
|
$
|
—
|
|
|
$
|
4,500
|
|
Additional
paid-in capital
|
|
|
68,900
|
|
|
|
—
|
|
|
|
68,900
|
|
Accumulated
deficit
|
|
|
(64,851
|
)
|
|
|
(1,000
|
)
|
|
|
(65,851
|
)
|
Total
stockholders’ equity (deficit)
|
|
|
8,549
|
|
|
|
(1,000
|
)
|
|
|
7,549
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
liabilities and stockholders’ equity
|
|
$
|
13,549
|
|
|
$
|
—
|
|
|
$
|
13,549
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The
accompanying notes are an integral part of these financial statements.
|
Sigmarenopro,
Inc
|
Statements
of Operations
|
|
|
|
|
|
|
|
|
|
For
the months ended September 30, 2019
|
|
|
(As
Previously Reported)
|
|
(Restatement
Adjustments)
|
|
(As
Restated)
|
|
|
|
|
|
|
|
REVENUE:
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EXPENSES:
|
|
|
|
|
|
|
|
|
|
|
|
|
General
and Administrative Exp
|
|
|
—
|
|
|
|
5,259
|
|
|
|
5,259
|
|
Professional
fees
|
|
|
6,112
|
|
|
|
(621
|
)
|
|
|
5,491
|
|
Total
expenses
|
|
$
|
6,112
|
|
|
$
|
4,638
|
|
|
$
|
10,750
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NET
LOSS
|
|
$
|
(6,112
|
)
|
|
$
|
(4,638
|
)
|
|
$
|
(10,750
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
loss per common share - basic
|
|
$
|
(0.00
|
)
|
|
$
|
(0.00
|
)
|
|
$
|
(0.00
|
)
|
Weighted
average of common shares outstanding - basic
|
|
|
4,500,000
|
|
|
|
4,500,000
|
|
|
|
4,500,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The
accompanying notes are an integral part of these financial statements.
|
Sigmarenopro,
Inc
|
Statement
of Cash Flows
|
|
|
|
|
|
|
|
|
|
For
the three months ended September 30, 2019
|
|
|
(As
Previously Reported)
|
|
(Restatement
Adjustments)
|
|
(As
Restated)
|
|
|
|
|
|
|
|
Cash
flow from Operating Activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
loss
|
|
$
|
(6,112
|
)
|
|
$
|
(4,638
|
)
|
|
$
|
(10,750
|
)
|
Changes
in Operating Assets and Liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase
(Decrease) in advances
|
|
|
—
|
|
|
|
4,638
|
|
|
|
4,638
|
|
Increase
(Decrease) in prepaid expenses
|
|
|
1,991
|
|
|
|
|
|
|
|
1,991
|
|
Net
cash used in operating activities
|
|
$
|
(4,121
|
)
|
|
$
|
—
|
|
|
$
|
(4,121
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash
flows from Investing Activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
cash flows from investing activities
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash
flows from Financing Activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
cash provided by financing activities
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
increase in cash, cash equivalents, and restricted cash
|
|
$
|
(4,121
|
)
|
|
|
—
|
|
|
|
(4,121
|
)
|
Cash,
cash equivalents, and restricted cash at beginning of year
|
|
|
17,367
|
|
|
|
—
|
|
|
|
17,367
|
|
Cash,
cash equivalents, and restricted cash at end of year
|
|
$
|
13,246
|
|
|
$
|
—
|
|
|
$
|
13,246
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SUPPLEMENTAL
CASH FLOW INFORMATION:
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash
paid for interest
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Cash
paid for income taxes
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The
accompanying notes are an integral part of these financial statements.
|
NOTE
I – SUBSEQUENT EVENT
The
Company evaluated all events or transactions that occurred after September 30, 2020 through February 05, 2021. The Company determined
that it does not have any subsequent event requiring recording or disclosure in the financial statements for the period ended
September 30, 2020.
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” relating to the registrant which represent the
registrant’s current expectations or beliefs, including statements concerning registrant’s operations, performance,
financial condition and growth. For this purpose, any statement contained in this quarterly report on Form 10-Q that are
not statements of historical fact are forward-looking statements. Without limiting the generality of the foregoing, words such
as “may”, “anticipation”, “intend”, “could”, “estimate”, or “continue”
or the negative or other comparable terminology are intended to identify forward-looking statements. These statements by their
nature involve substantial risks and uncertainties, such as credit losses, dependence on management and key personnel and variability
of quarterly results, ability of registrant to continue its growth strategy and competition, certain of which are beyond the registrant’s
control. Should one or more of these risks or uncertainties materialize or should the underlying assumptions prove incorrect,
actual outcomes and results could differ materially from those indicated in the forward-looking statements.
The
following discussion of our financial condition and results of operations should be read in conjunction with our financial statements
and the related notes, and other financial information contained in this prospectus.
Overview
SigmaRenoPro
was incorporated on June 16, 2017. Our fiscal year end is June 30, and we have no subsidiaries. Our business offices are currently
located at Aloni Noa’kh St. 1, Kiryat Motzkin 26402, Israel. Omar Aamar, has served as our President, Treasurer and a director
since June 16, 2017. Mr. Amar’s spouse, Hosnieh Aaman, has served as our Secretary since July 25, 2017. Mr. Aamar and Ms.
Aamar collectively hold 2,300,000 shares of common stock of the Company. Mr. Aamar’s business experience is in the construction
and home building industry in Israel. We are focusing on matching home project owners with contractors in the United States. Mr.
Aamar, however, has no knowledge of and no experience in this business in the United States. The Company is focusing its operations
in the United States because the Company’s believes the barriers to operation of its business in the United States is not
burdensome and the United States has a large home repair market.
We
plan to provide a U.S.-based service matching homeowners that have renovation projects with professionally-skilled contractors
,initially concentrating our efforts on the four consumer regions of the United States of, New York, New York; Los Angeles, California;
Chicago Illinois; and Houston Texas. Our customized match making service helps homeowners converge with professional contractors.
We plan to create a collection of articles intended to help homeowners with home project information, including:
•
How to outline project requirements;
•
How to select the right contractor;
•
How to interview contractors;
•
How to draw up a project contract; and
•
How to settle disputes with contractors
Our
service is deigned to be free for all homeowners to use and post their projects. We plan to build a network of professionally-skilled
contractors who provide a broad array of construction and renovation services for everything from changing light fixtures to complete
kitchen renovation, and from housecleaning services to new construction.
Plan
of Operations
Comparison
of the Three Months Ended September 30, 2020 and 2019
Lack
of Revenues
We
have limited operational history. For the three months ended September 30, 2020 and 2019 we did not generate any revenues. We
anticipate that we will incur substantial losses for the foreseeable future and our ability to generate any revenues in the next
12 months continues to be uncertain.
Operating
Expenses
The
Company’s operating expenses for the three months ended September 30, 2020 and 2019 were $3,609 and $10,750 respectively.
Operating expenses consisted of professional fees of $3,241, general administrative expenses of $68 and share transfer agent fee
of $300 for the three months ended September 30, 2020. Operating expenses consisted of professional fees of $5,491 and general
administrative expenses of $5,259 for the three months ended September 30, 2019.
Net
Loss
During
the three months ended September 30, 2020 and 2019 the Company recognized net losses of $3,609 and $10,750.
Liquidity
and Capital Resources
Our
capital resources have been acquired through the sale of shares of our common stock and loans from shareholders.
At
September 30, 2020 and June 30, 2020, we had total assets of $4,786 and $6,404 respectively consisting of cash held in trust and
prepaid expenses.
At
September 30, 2020 and June 30, 2020, our total liabilities were $17,714 and $15,723, respectively consisting of due to related
parties, short term fund and accounts payable.
Cash
flows from operating activities
Net
cash flows used in operating activities for the three month periods ended September 30, 2020 and 2019 was $(1,280) and $(4,121).
Going
Concern
The
future of our company is dependent upon its ability to obtain financing and upon future profitable operations from the sale of
products and services through our websites. Management has plans to seek additional capital through a private placement and public
offering of its common stock, if necessary. Our auditors have expressed a going concern opinion because uncertainties raise doubts
about the Issuers ability to continue as a going concern.
Cash
Requirements
We
intend to provide funding for our activities, if any, through a combination of the private placement of the company’s equity
securities and the public sales of equity securities.
We
have no agreement, commitment or understanding to secure any funding from any source.
Off-Balance
Sheet Arrangements
We
do not have any off balance sheet arrangements.
Office
SigmaRenoPro,
Inc.’s executive office is located at Aloni Noa’kh St. 1Kiryat Motzkin 26402 Israel. The telephone number is +972
03-6860331.
SigmaRenoPro,
Inc. is not operating its business plan until such time as capital is raised for operations. To date its operation has involved
only selling stock to meet expenses.
Business
Overview
Since
its inception, the Company derived no revenues and no income from such business and as result as of September 30, 2020, had an
accumulated deficit of $86,328.
There
is no current public market for our securities. As our stock is not publicly traded, investors should be aware they probably will
be unable to sell their shares and their investment in our securities is not liquid.
At
the present time, we are classified as a “shell company” under Rule 405 of the Securities Act Rule 12b-2 of the Exchange
Act. As such, all restricted securities presently held by the affiliates of our company may not be resold in reliance on Rule
144 until: (1) we file Form 10 information with the Securities and Exchange Commission (“SEC”) when we cease to be
a “shell company”; (2) we have filed all reports as required by Section 13 and 15(d) of the Securities Act for twelve
consecutive months; and (3) one year has elapsed from the time we file the current Form 10 type information with the SEC reflecting
our status as an entity that is not a shell company.
Bankruptcy
Or Similar Proceedings
There
has been no bankruptcy, receivership or similar proceeding involving the Company.
Number
Of Total Employees And Number Of Full Time Employees
Omar
Aamar, our sole officer and director, is our only employee, and he currently works full time on Company matters.
Once
the offering is complete we will hire additional staff if we generate enough revenue to support the expense. The number of additional
staff will depend upon our growth.
Item
3. Quantitative and Qualitative Disclosures about Market Risk.
Not
Applicable to Smaller Reporting Companies.
Item
4. Controls and Procedures.
EVALUATION
OF DISCLOSURE CONTROLS AND PROCEDURES
As
required by Rule 13a-15/15d-15 under the Securities and Exchange Act of 1934,as amended (the "Exchange Act"), as of
September 30, 2020, we have carried out an evaluation of the effectiveness of the design and operation of our Company's disclosure
controls and procedures. This evaluation was carried out under the supervision and with the participation of our Company's management,
our President (Principal Executive Officer) and Treasurer (Principal Accounting Officer). Based upon the results of that evaluation,
our management has concluded that, as of September 30, 2020, our Company's disclosure controls and procedures were not effective
and do not provide reasonable assurance that material information related to our Company required to be disclosed 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 SEC's rules and forms, and that such information is accumulated and communicated to management to allow timely decisions
on required disclosure.
MANAGEMENT'S
REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
Management
is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rules 13a-15(f)
and 15d-15(f) under the Exchange Act. Our internal control system is designed to provide reasonable assurance to our management
and board of directors regarding the reliability of financial reporting and the preparation of financial statements for external
reporting purposes in accordance with generally accepted accounting principles. Our internal control over financial reporting
includes those policies and procedures that:
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•
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Pertain
to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions
of the assets of the Company;
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•
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Provide
reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance
with generally accepted accounting principles in the United States of America, and that receipts and expenditures of the Company
are being made only in accordance with authorizations of management and directors of the Company; and
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•
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Provide
reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the Company's
assets that could have a material effect on the financial statements.
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Management
assessed the effectiveness of our internal control over financial reporting as of September 30, 2020. In making this assessment,
we used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in INTERNAL CONTROL
-- INTEGRATED FRAMEWORK.
Our
management concluded that, as of September 30, 2020, our internal control over financial reporting was effective based on the
criteria in INTERNAL CONTROL -- INTEGRATED FRAMEWORK issued by the COSO.
This
quarterly report does not include an attestation report of the Company's independent registered public accounting firm regarding
internal control over financial reporting. Management's report was not subject to attestation by the Company's independent registered
public accounting firm pursuant to rules of the SEC that permit the Company to provide only management's report in this annual
report.
CHANGES
IN INTERNAL CONTROL OVER FINANCIAL REPORTING
There
were no changes in our internal control over financial reporting identified in connection with the evaluation described above
during the first quarter ended September 30, 2020 that has materially affected or is reasonably likely to materially affect our
internal controls over financial reporting.
PART
II. OTHER INFORMATION
Item
1. Legal Proceedings.
SigmaRenoPro
is not involved in any litigation or any material legal proceeding. No Officer or Director is involved in any litigation
or any material legal proceeding.
Item
1A. Risk Factors
We
are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information required
under 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
Item
6. Exhibits
Exhibit
31.1
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-
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Certification
of Chief Executive Officer of Sigmarenopro, Inc. required by Rule 13a-14(1) or Rule 15d-14(a) of the Securities Exchange Act
of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
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Exhibit
31.2
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Certification
of Chief Financial Officer of Sigmarenopro, Inc. required by Rule 13a-14(1) or Rule 15d-14(a) of the Securities Exchange Act
of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
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Exhibit
32.1
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Certification
of Chief Executive Officer of Sigmarenopro, Inc. pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and Section 1350
of 18 U.S.C. 63.
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Exhibit
32.2
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-
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Certification
of Chief Executive Officer of Sigmarenopro, Inc. pursuant to Section 906 of the Sarbanes-Oxley
Act of 2002 and Section 1350 of 18 U.S.C. 63.
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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.
Sigmarenopro,
Inc.
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By:
/s/ Omar Aamar
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Date:
February 05, 2021
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Omar
Aamar,
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President
and Treasurer
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Chief
Executive Officer
Chief
Financial Officer
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