PAN OCEAN CONTAINER SUPPLIES LT (OTC:PAOC)

Item 1.02 Termination of a Material Definitive Agreement.

On March 1, 2016, Pan Ocean Container Supplies Ltd. (the "Company") sent a notice to Pan Ocean Container Supplies Co., Ltd. (Pan Ocean) terminating, effective immediately, the Material Definitive Agreement, dated July 10, 2014, between the Company and Pan Ocean (the "Agreement"). The Company terminated the Agreement pursuant to Section 9 of the Agreement.

The foregoing description of the Agreement in this report does not purport to be complete and is qualified by reference to the full text of the Agreement. The Agreement is incorporated herein by reference to Exhibit 2.1 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on July 14, 2014.

Pan Ocean Container Supplies, Ltd.
Formerly Known as Neveah Enterprises Ltd.
Statements of Operations
							For the Three Months Ended		For the Six Months Ended
							Oct 31,	Oct 31,	Oct 31,	Oct 31,
							2015	2014	2015	2014
General and Administration Expenses
	Advertising and Marketing Fees						$                           -	$                -	$                           -	$                -
	Filing Fees						$                           -	$                -	$                           -	$                -
	Legal Fees						$                           -	$                -	$                           -	$                -
	Professional Fees						$                    1,040	$         6,317	$                    2,390	$         4,345
	Bank charges and interest						$                           -	$                -	$                           -	$         7,067
Operating loss							$                    1,040	$         6,317	$                    2,390	$       11,412
Net (loss) for the period							$                   (1,040)	$        (6,317)	$                   (2,390)	$      (11,412)
Net (loss) per share
	Basic and diluted						$                           -	$                -	$                           -	$                -
Weighted Average Number of Common Shares Outstanding
	Basic and diluted						44,000,000	44,000,000	44,000,000	44,000,000

Management Discussion and Analysis

We have not generated any revenues for the six months ended October 31, 2015.

We incurred general and administration expenses of $2,390 for the six months ended October 31, 2015, compared to general and administration expenses of $11,412 for the six months ended October 31, 2014. The decrease in expenses is a result of a decrease in professional expenses.

For the six months ended October 31, 2015, we incurred a net loss of $ 2,390.

Pan Ocean Container Supplies, Ltd.  Formerly Known as Neveah Enterprises Ltd. Statements of Operations
									For the Year Ended
									April 30	April 30
									2015	2014
General and Administration Expenses
	Press and Public Relations Fees								$      14,390	$             -
	Filing Fees								-	420
	Legal Fees								12,971	8,740
	Professional Fees								35,229	4,515
Operating loss									$    62,590	$   13,675
Net (loss) for the period									$  (62,590)	$ (13,675)
Net (loss) per share
	Basic and diluted								$             -	$            -
Weighted Average Number of Common Shares Outstanding
	Basic and diluted								44,000,000	44,000,000

Management Discussion and Analysis

Revenues

There were no revenues generated for the fiscal period ended April 30, 2015 and no revenues have been earned by the Company since our inception.
 

We experienced a net loss of $ 62,590 for the fiscal year ended April 30, 2015 compared to a net loss of $13,675 for the fiscal year ended April 30, 2014.

Item 1.01: Entry into a Material Definitive Agreement

On July 13, 2015, Pan Ocean Container Supplies Ltd increased their Line of Credit agreement with Fusion Business Group Inc. to $200,000.00 for working capital purposes.

Pan Ocean Container Supplies Ltd. previously had a Line of Credit Promissory Agreement Note with Fusion Business Group Inc for the amount of $100,000.00. The amount was increased to $200,000.00 after negotiations.

Pan Ocean Container Supplies, Ltd.
Formerly Known as Neveah Enterprises Ltd.
(A Development Stage Company)
Statements of Operations
											From June 15, 2006
							For Three months Ended	For Three months Ended	For Nine months Ended	For Nine months Ended	(Inception) to
							January 31,	January 31,	January 31,	January 31,	January 31,
							2015	2014	2015	2014	2015
General and Administration Expenses
	Filing Fees						$                                -		$                              -		994
	Advertising & Marketing						$                      13,121		$                    13,121		13,121
	Legal Fees						8,626		12,971		21,711
	Professional Fees						20,347		27,414	3,325	93,701
	Bank charges and interest						-		-		633
Operating loss							42,094	-	53,506	3,325	130,160
Net (loss) for the period							$                     (42,094)	0	$                   (53,506)	(3,325)	(130,160)
Net (loss) per share
	Basic and diluted						(0.00)	(0.00)	(0.00)	(0.00)
Weighted Average Number of Common Shares Outstanding
	Basic and diluted						44,000,000	44,000,000	44,000,000	44,000,000

Management Discussion and Analysis

RESULTS OF OPERATIONS

We have not generated any revenues for the nine months ended January 31, 2015.

We incurred general and administration expenses of $53,506 for the nine months ended January 31, 2015, compared to general and administration expenses of $3,325 for the six months ended January 31, 2014. The increase in expenses is a result of an increase in professional expenses, legal fees and advertising and marketing expenses.

For the nine months ended January 31, 2015, we incurred a net loss of $53,506.

 

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Pan Ocean Container Supplies, Ltd.
Formerly Known as Neveah Enterprises Ltd.
(A Development Stage Company)
Statements of Operations
											From June 15, 2006
							For Three months Ended	For Three months Ended	For Six months Ended	For Six months Ended	(Inception) to
							October 31,	October 31,	October 31,	October 31,	October 31,
							2014	2013	2014	2013	2014
General and Administration Expenses
	Filing Fees						$                                -	420	$                           -	420	1,414
	Legal Fees								4,345		13,085
	Professional Fees						5,617	1,550	6,367	1,550	72,234
	Bank charges and interest						-		-		633
Operating loss							5,617	1,970	10,712	1,970	87,366
Net (loss) for the period							$                       (5,617)	(1,970)	$                (10,712)	(1,970)	(87,366)
Net (loss) per share
	Basic and diluted						0.00	0.00	0.00	0.00
Weighted Average Number of Common Shares Outstanding
	Basic and diluted						44,000,000	44,000,000	44,000,000	44,000,000
The accompanying notes are an integral part of the consolidated financial statements.

 

 

 Management Discussion and Analysis

 

We have not generated any revenues for the six months ended October 31, 2014.

We incurred general and administration expenses of $10,712 for the six months ended October 31, 2014, compared to general and administration expenses of $1,970 for the six months ended October 31, 2013. The increase in expenses is a result of an increase in professional expenses and legal fees.

 

Pan Ocean Container Supplies, Ltd.
Formerly Known as Neveah Enterprises Ltd.
(A Development Stage Company)
Statements of Operations
											From June 15, 2006
							For 3 months Ended	For 3 months Ended	For the Year Ended	For the Year Ended	(Inception) to
							July 31,	July 31,	July 31,	July 31,	July 31,
							2014	2013	2014	2013	2014
General and Administration Expenses
	Filing Fees						$                             -		$                    420		1,414
	Legal Fees						4,345		8,740		13,085
	Professional Fees						750	-	4,515	21,575	66,617
	Bank charges and interest						-		-		633
Operating loss							5,095	-	13,675	21,575	81,749
Net (loss) for the period							$                    (5,095)	0	$             (13,675)	(21,575)	(81,749)
Net (loss) per share
	Basic and diluted						(0.00)	(0.00)	(0.00)	(0.00)
Weighted Average Number of Common Shares Outstanding
	Basic and diluted						44,000,000	44,000,000	5,500,000	5,500,000

Management Discussion and Analysis

We have not generated any revenues for the three months ended July 31, 2014.

We incurred general and administration expenses of $5,095 for the three months ended July 31, 2014, compared to general and administration expenses of $nil for the three months ended July 31, 2013. The increase in expenses is a result of an increase in professional expenses.

For the three months ended July 31, 2014, we incurred a net loss of $5,095.

Pan Ocean Container Supplies, Ltd.
Formerly Known as Neveah Enterprises Ltd.
(A Development Stage Company)
Statements of Operations
											From June 15, 2006
							For the Three Months Ended		For the Year Ended	For the Year Ended	(Inception) to
							`April  30	`April  30	April 30,	April 30,	April 30,
							2014	2013	2014	2013	2014
General and Administration Expenses
	Filing Fees						$             -	$                     -	$                        420		1,414
	Legal Fees						$      8,740		8,740		8,740
	Professional Fees						2,965	7,955	4,515	21,575	65,867
	Bank charges and interest						-	-	-		633
Operating loss							11,705	7,955	13,675	21,575	76,654
Net (loss) for the period							$  (11,705)	$            (7,955)	$                 (13,675)	(21,575)	(76,654)
Net (loss) per share
	Basic and diluted						(0.00)	(0.00)	(0.00)	(0.00)
Weighted Average Number of Common Shares Outstanding
	Basic and diluted						44,000,000	44,000,000	44,000,000	44,000,000

Management Discussion and Analysis

Overview

Pan Ocean Container Supplies Ltd. was incorporated in the state of Nevada on June 15, 2006. The Company intends to operate as a software developer which will create a software interface which will integrate existing cellular phone devices with an automobile's existing navigation system in order to relay text or email message through an automobile's sound system or navigation display. The initial region we plan to market our website to is in major city centers in China. We currently have signed a contract with a local Chinese software programmer to create and develop our proposed user interface. We expect that we will have a working, beta stage software by the end of June 2015. We currently have not advanced beyond the business plan state from our inception until the date of this filing.  We anticipate that in order for us to begin commercialization and retail sale of our product, we will need to raise additional capital. We currently do not have any specific plans to raise these funds.
 

Results of Operations

Revenues

There were no revenues generated for the fiscal period ended April 30, 2014 and no revenues have been earned by the Company since it's inception.

Net Income

We experienced a net loss of $13,675 for the fiscal year ended April 30, 2014 compared to a net loss of $21,575 for the fiscal year ended April 30, 2013.

On July 10, 2014 , we executed an agreement with Pan Ocean Container Supplies Co., Ltd . (“Pan Ocean”), and our company (the "Agreement"), whereby pursuant to the terms and conditions of that Agreement, Pan Ocean shareholders will acquired six million (6,000,000) shares of our common stock, and Pan Ocean would become a wholly owned subsidiary of the Company. This issuance of stock will not involve any public offering, general advertising or solicitation. No assurances can be provided that the transaction will be closed. Upon closing we will publish an expanded Form 8-K filing which will include the audited financials of Pan Ocean and Pro-Forma financial statements.