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Multi Soft II (MSOF)

Cover

Cover - shares3 Months Ended
Apr. 30, 2021May 18, 2021
Cover [Abstract]
Document Type10-Q
Document Quarterly Reporttrue
Document Period End DateApr. 30,
2021
Document Transition Reportfalse
Entity Registrant NameMULTI SOFT II, INC
Entity Incorporation, State or Country CodeFL
Entity File Number000-15976
Entity Tax Identification Number22-2588030
Entity Address, Address Line One4400 Biscayne Boulevard, 10th Floor
Entity Address, City or TownMiami
Entity Address, State or ProvinceFL
Entity Address, Postal Zip Code33137
City Area Code305
Local Phone Number579-8000
Title of 12(b) SecurityCommon Stock, par value $.001 per share
Trading SymbolMSOF
Entity Current Reporting StatusYes
Entity Interactive Data CurrentYes
Entity Filer CategoryNon-accelerated Filer
Entity Emerging Growth Companyfalse
Entity Small Businesstrue
Entity Shell Companytrue
Entity Common Stock, Shares Outstanding (in shares)1,233,853
Amendment Flagfalse
Entity Central Index Key0000766404
Current Fiscal Year End Date--01-31
Document Fiscal Year Focus2021
Document Fiscal Period FocusQ1

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)Apr. 30, 2021Jan. 31, 2021
Current assets:
Cash $ 6,677 $ 2,711
Total assets6,677 2,711
Current liabilities:
Accounts payable and accrued expenses67,672 75,370
Total current liabilities67,672 75,370
Due to shareholder795,677 762,846
Total liabilities863,349 838,216
Shareholders' deficiency:
Preferred stock, 50,000,000 shares authorized, $0.001 par value; no shares issued or outstanding0 0
Common stock, 200,000,000 shares authorized; $0.001 par value; 1,233,853 shares issued and outstanding1,233 1,233
Additional paid-in capital81,323 81,323
Accumulated deficit(939,228)(918,061)
Total shareholders' deficiency(856,672)(835,505)
Total liabilities and shareholders' deficiency $ 6,677 $ 2,711

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / sharesApr. 30, 2021Jan. 31, 2021
Shareholders' deficiency:
Preferred stock, shares authorized (in shares)50,000,000 50,000,000
Preferred stock, par value (in dollars per share) $ 0.001 $ 0.001
Preferred stock, shares issued (in shares)0 0
Preferred stock, shares outstanding (in shares)0 0
Common stock, shares authorized (in shares)200,000,000 200,000,000
Common stock, par value (in dollars per share) $ 0.001 $ 0.001
Common stock, shares issued (in shares)1,233,853 1,233,853
Common stock, shares outstanding (in shares)1,233,853 1,233,853

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($)3 Months Ended
Apr. 30, 2021Apr. 30, 2020
Income Statement [Abstract]
REVENUE $ 0 $ 0
OPERATING EXPENSES
General and administrative expenses (income)8,336 8,038
Total operating expenses (income)8,336 8,038
LOSS FROM OPERATIONS(8,336)(8,038)
OTHER EXPENSE
Interest expense(12,831)(12,379)
Total other expense(12,831)(12,379)
LOSS BEFORE TAXES(21,167)(20,417)
Income tax provision0 0
NET LOSS $ (21,167) $ (20,417)
BASIC AND DILUTED LOSS PER SHARE (in dollars per share) $ (0.02) $ (0.02)
BASIC AND DILUTED WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING (in shares)1,233,853 1,233,853

Condensed Statements of Shareho

Condensed Statements of Shareholders' Deficiency (Unaudited) - USD ($)3 Months Ended
Apr. 30, 2021Apr. 30, 2020
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)1,233,853
Beginning balance $ (835,505) $ (745,020)
Net loss $ (21,167)(20,417)
Ending balance (in shares)1,233,853
Ending balance $ (856,672) $ (765,437)
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)1,233,853 1,233,853
Beginning balance $ 1,233 $ 1,233
Ending balance (in shares)1,233,853 1,233,853
Ending balance $ 1,233 $ 1,233
Additional Paid-in Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance81,323 81,323
Ending balance81,323 81,323
Accumulated Deficit
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance(918,061)(827,576)
Net loss(21,167)(20,417)
Ending balance $ (939,228) $ (847,993)

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)3 Months Ended
Apr. 30, 2021Apr. 30, 2020
CASH FLOW FROM OPERATING ACTIVITIES:
Net loss $ (21,167) $ (20,417)
Adjustments to reconcile net loss to net cash used in operating activities:
Increase in accrued interest on due to shareholder12,831 12,379
Changes in operating assets and liabilities:
(Decrease) increase in accounts payable and accrued expenses(7,698)3,982
Net cash used in operating activities(16,034)(4,056)
CASH FLOW FROM FINANCING ACTIVITIES:
Proceeds from debt issuance20,000 0
Net cash provided by financing activities20,000 0
NET INCREASE (DECREASE) IN CASH3,966 (4,056)
CASH AT BEGINNING OF PERIOD2,711 26,642
CASH AT END OF PERIOD6,677 22,586
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest paid0 0
Income taxes paid $ 0 $ 0

Summary of Significant Accounti

Summary of Significant Accounting Policies and Organization3 Months Ended
Apr. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies and OrganizationSUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION (A) Organization, Basis of Presentation and liquidity Multi Soft II, Inc.'s (the "Company") business purpose is to investigate and, if such investigation warrants, acquire a target company or business seeking the perceived advantages of being a publicly held corporation. The Company's business objective for the next twelve months and beyond will be to achieve long-term growth potential through a combination with a business, rather than immediate, short-term earnings. The Company's search for a business opportunity will not be limited to any particular geographical area or industry, including both domestic and international companies. The Company does not have any revenues from operations and, absent a merger or other combination with an operating company, or a public or private sale of the Company's equity or debt securities, the occurrence of either of which cannot be assured, the Company will be dependent upon future loans or equity investments from the Company's present shareholders or management, for which there is no existing commitment except as disclosed in Note 2. Although the Company has no present commitment from any such parties to provide funding, except as disclosed in Note 2, if the Company reaches the point where the Company needs funds to remain in operation, the Company will attempt to raise funds from the Company's present shareholders or management in the form of equity or debt. If, in such situation, the Company is unable to raise funds from those parties, it is likely that the Company's business would cease operations. As of April 30, 2021, the Company believes it has adequate cash and available borrowing capacity under the credit facility to sustain operations for the next twelve months from the issuance date of this report. In order to minimize potential conflicts of interest which may arise because the Company's directors and officers also serve as the directors and officers of Multi Solutions II, Inc., an entity under common control, each of the Company's officers and directors have entered into an agreement with the Company and Multi Solutions II, Inc. whereby all parties have each agreed that the Company will not analyze or consider any possible business combination opportunities until Multi Solutions II, Inc. has agreed to consummate a business combination. The unaudited interim condensed financial statements of the Company as of April 30, 2021 and for the three months ended April 30, 2021 and 2020 included herein have been prepared in accordance with generally accepted accounting principles for interim financial information, the instructions for Form 10-Q, and Article 8 of Regulation S-X. Certain information and note disclosures normally included in complete financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations relating to interim condensed financial statements. In the opinion of management, the accompanying unaudited interim condensed financial statements reflect all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the financial position of the Company at April 30, 2021 and the results of its operations and its cash flows for the three months ended April 30, 2021 and 2020. The results of operations and cash flows for such periods are not necessarily indicative of results expected for the full year or for any future period. These condensed financial statements should be read in conjunction with the financial statements and the notes thereto included in the Company's Annual Report on Form 10-K for the year ended January 31, 2021 filed with the Securities and Exchange Commission. (B) Financial Instruments The carrying amounts of cash and accounts payable approximate their fair values due to their short term nature and that they are receivable or payable upon demand. However, considerable judgment is involved in making fair value determinations and current estimates of fair value may differ significantly from amounts presented herein. (C) Use of Estimates In preparing financial statements in conformity with generally accepted accounting principles, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and expenses during the reported period. Actual results could differ from those estimates. (D) Cash Equivalents The Company considers all highly liquid cash investments with an original maturity of three months or less to be cash equivalents. (E) Loss Per Share Basic loss per share is calculated based on loss available to common shareholders and the weighted-average number of shares outstanding during the reporting period. Diluted loss per share is calculated based on losses attributable to common shareholders and the weighted-average number of common and potential common shares outstanding during the reporting period. (F) Recently Issued Accounting Standards Management does not believe that any recently issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company's financial statements.

Due To Shareholder

Due To Shareholder3 Months Ended
Apr. 30, 2021
Related Party Transactions [Abstract]
Due To ShareholderDUE TO SHAREHOLDERThe Company has a Credit Facility with its majority shareholder, whereby, the Credit Facility provides the principal amount up to $550,000 of financing to the Company for working capital purposes. Amounts outstanding under the Credit Facility accrue interest at an annual interest rate of 11% and mature in December 2022. Principal and interest outstanding under the Credit Facility totaled $795,677 and $762,846, including accrued interest of $315,520 and $302,689 as of April 30, 2021 and January 31, 2021, respectively.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies and Organization (Policies)3 Months Ended
Apr. 30, 2021
Accounting Policies [Abstract]
Organization and Basis of Presentation and liquidityOrganization, Basis of Presentation and liquidity Multi Soft II, Inc.'s (the "Company") business purpose is to investigate and, if such investigation warrants, acquire a target company or business seeking the perceived advantages of being a publicly held corporation. The Company's business objective for the next twelve months and beyond will be to achieve long-term growth potential through a combination with a business, rather than immediate, short-term earnings. The Company's search for a business opportunity will not be limited to any particular geographical area or industry, including both domestic and international companies. The Company does not have any revenues from operations and, absent a merger or other combination with an operating company, or a public or private sale of the Company's equity or debt securities, the occurrence of either of which cannot be assured, the Company will be dependent upon future loans or equity investments from the Company's present shareholders or management, for which there is no existing commitment except as disclosed in Note 2. Although the Company has no present commitment from any such parties to provide funding, except as disclosed in Note 2, if the Company reaches the point where the Company needs funds to remain in operation, the Company will attempt to raise funds from the Company's present shareholders or management in the form of equity or debt. If, in such situation, the Company is unable to raise funds from those parties, it is likely that the Company's business would cease operations. As of April 30, 2021, the Company believes it has adequate cash and available borrowing capacity under the credit facility to sustain operations for the next twelve months from the issuance date of this report. In order to minimize potential conflicts of interest which may arise because the Company's directors and officers also serve as the directors and officers of Multi Solutions II, Inc., an entity under common control, each of the Company's officers and directors have entered into an agreement with the Company and Multi Solutions II, Inc. whereby all parties have each agreed that the Company will not analyze or consider any possible business combination opportunities until Multi Solutions II, Inc. has agreed to consummate a business combination. The unaudited interim condensed financial statements of the Company as of April 30, 2021 and for the three months ended April 30, 2021 and 2020 included herein have been prepared in accordance with generally accepted accounting principles for interim financial information, the instructions for Form 10-Q, and Article 8 of Regulation S-X. Certain information and note disclosures normally included in complete financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations relating to interim condensed financial statements. In the opinion of management, the accompanying unaudited interim condensed financial statements reflect all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the financial position of the Company at April 30, 2021 and the results of its operations and its cash flows for the three months ended April 30, 2021 and 2020. The results of operations and cash flows for such periods are not necessarily indicative of results expected for the full year or for any future period. These condensed financial statements should be read in conjunction with the financial statements and the notes thereto included in the Company's Annual Report on Form 10-K for the year ended January 31, 2021 filed with the Securities and Exchange Commission.
Financial InstrumentsFinancial InstrumentsThe carrying amounts of cash and accounts payable approximate their fair values due to their short term nature and that they are receivable or payable upon demand. However, considerable judgment is involved in making fair value determinations and current estimates of fair value may differ significantly from amounts presented herein.
Use of EstimatesUse of EstimatesIn preparing financial statements in conformity with generally accepted accounting principles, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and expenses during the reported period. Actual results could differ from those estimates.
Cash EquivalentsCash Equivalents The Company considers all highly liquid cash investments with an original maturity of three months or less to be cash equivalents.
Loss Per ShareLoss Per Share Basic loss per share is calculated based on loss available to common shareholders and the weighted-average number of shares outstanding during the reporting period. Diluted loss per share is calculated based on losses attributable to common shareholders and the weighted-average number of common and potential common shares outstanding during the reporting period.
Recently Issued Accounting StandardsRecently Issued Accounting StandardsManagement does not believe that any recently issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company's financial statements.

Due To Shareholder (Details)

Due To Shareholder (Details) - USD ($)3 Months Ended
Apr. 30, 2021Jan. 31, 2021
Related Party Transaction [Line Items]
Principal and interest outstanding $ 795,677 $ 762,846
Majority Shareholder | Majority Shareholder
Related Party Transaction [Line Items]
Maximum credit facility $ 550,000
Annual rate of interest11.00%
Principal and interest outstanding $ 795,677 762,846
Accrued interest $ 315,520 $ 302,689