U.S. SECURITIES AND EXCHANGE COMMISSION ~~Washington, D.C. 20549~~

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 ~~May~~November 3130, 2020

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

For the transition period from ______ to _______

Commission File No. 333-213996

TEMIR CORP.

(Exact name of registrant as specified in its charter)

Nevada

(State or Other Jurisdiction of Incorporation or Organization)

98-1321204		7999
IRS Employer Identification Number		Primary Standard Industrial Classification Code Number

Temir Corp.

Suite 1802-03, 18/F, Strand 50, 50 Bonham Strand, Sheung Wan, Hong Kong

Tel. 852-28527388

Email: rchan@jtifs.com.hk

(Address and telephone number of principal executive offices)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock TMRR ~~OTC~~OTCQB ~~Markets-Pink~~Venture ~~Sheet~~Markets

Indicate by checkmark whether the issuer: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated fi ler,” “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 checkmark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

Applicable Only to Issuer Involved in Bankruptcy Proceedings During the Preceding Five Years.

Indicate by checkmark whether the issuer has filed all documents and reports required to be filed by Section 12, 13 and 15(d) of the Securities Exchange Act of 1934 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 most practicable date:

Class		Outstanding as of July 15, 2020
Common Stock, $0.001		6,692,182

As of January 15, 2021, the registrant had 6,692,182 shares of common stock issued and outstanding. No market value has been computed based upon the fact that no active trading market has been established as of January 15, 2021.

TEMIR CORP.

Part I	FINANCIAL INFORMATION
Item 1	Financial Statements	1
Item 2	Management’s Discussion And Analysis Of Financial Condition And Results Of Operations	9
Item 3	Quantitative And Qualitative Disclosures About Market Risk	14
Item 4	Controls And Procedures	14
Part II	OTHER INFORMATION
Item 1	Legal Proceedings	15
Item 1A	Risk Factors	15
Item 2	Unregistered Sales Of Equity Securities And Use Of Proceeds	15
Item 3	Defaults Upon Senior Securities	15
Item 4	Mine Safety Disclosures	15
Item 5	Other Information	15
Item 6	Exhibits	15
	Signatures	16

FORM 10-Q

November 30, 2020

TABLE OF CONTENTS

Part I	FINANCIAL INFORMATION	1
Item 1	Financial Statements	1
Item 2	Management’s Discussion And Analysis Of Financial Condition And Results Of Operations	18
Item 3	Quantitative And Qualitative Disclosures About Market Risk	22
Item 4	Controls And Procedures	22

Part II	OTHER INFORMATION	24
Item 1	Legal Proceedings	24
Item 1A	Risk Factors	24
Item 2	Unregistered Sales Of Equity Securities And Use Of Proceeds	24
Item 3	Defaults Upon Senior Securities	24
Item 4	Mine Safety Disclosures	24
Item 5	Other Information	24
Item 6	Exhibits	24
	Signatures	25

~~PART~~FORWARD LOOKING ~~I. FINANCIAL INFORMATION~~STATEMENTS

~~ITEM~~Statements made 1in this Form 10-Q that are not historical or current facts are “forward-looking statements” made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 (the “Act”) and Section 21E of the Securities Exchange Act of 1934. ~~FINANCIAL~~These ~~STATEMENTS~~statements often can be identified by the use of terms such as “may,” “will,” “expect,” “believe,” “anticipate,” “estimate,” “approximate” or “continue,” or the negative thereof. We intend that such forward-looking statements be subject to the safe harbors for such statements. We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management’s best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events.

~~TEMIR CORP.~~ii

~~CONDENSED~~PART I ~~BALANCE~~- ~~SHEETS~~FINANCIAL INFORMATION

~~(UNAUDITED)~~ITEM 1. FINANCIAL STATEMENTS

	MAY 31, 2020			AUGUST 31, 2019
ASSETS
Current Assets
Cash and cash equivalents	$	-		$	-
Total Assets	$	-		$	-
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
Due to a related party	$	9,519		$	-
Accounts payable and accrued liabilities		2,498			498
Total current liabilities		12,017			498
Total Liabilities		12,017			498
Stockholders’ Deficit
Common stock, $0.001 par value, 75,000,000 shares authorized;
2,574,000 shares issued and outstanding		2,574			2,574
Additional paid-in-capital		43,054			43,054
Accumulated deficit		(57,645	)		(46,126	)
Total Stockholders’ deficit		(12,017	)		(498	)
Total Liabilities and Stockholders’ Deficit	$	-		$	-

TEMIR CORP.
CONDENSED CONSOLIDATED BALANCE SHEETS
AS OF NOVEMBER 30, 2020 AND AUGUST 31, 2020 (Unaudited)
(In U.S. dollars except for number of shares)

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

	November 30, 2020			August 31, 2020

CURRENT ASSETS
Cash	$	15,712		$	2,580
Accounts receivable		461			-
Prepaid expenses, deposits and other current assets		302			302

TOTAL ASSETS	$	16,475		$	2,882

CURRENT LIABILITIES
Accounts payable, other payables and accrued liabilities	$	17,321		$	16,573
Tax payable		470			382
Amount due to a related company		74,317			56,317
Amount due to a shareholder		230,913			173,796

Total liabilities		323,021			247,068

COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS’ DEFICIT
Common stock, $0.001 par value 75,000,000 shares authorized; 6,692,182 shares issued and outstanding as of November 30, 2020 and August 31, 2020		6,692			6,692
Additional paid-in capital		444,590			444,590
Accumulated deficit		(757,828	)		(695,468	)
TOTAL STOCKHOLDERS’ DEFICIT		(306,546	)		(244,186	)

TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	$	16,475		$	2,882

1The accompanying notes are an integral part of these condensed financial statements.

~~TEMIR CORP.~~1

TEMIR CORP. CONDENSED CONSOLIDATED STATEMENTS OF ~~OPERATIONS~~COMPREHENSIVE INCOME (LOSS) FOR THE THREE MONTHS ENDED NOVEMBER 30, 2020 and 2019

(~~UNAUDITED~~Unaudited) (In U.S. dollars except for number of shares)

	THREE MONTHS ENDED MAY 31, 2020			THREE MONTHS ENDED MAY 31, 2019			NINE MONTHS ENDED MAY 31, 2020			NINE MONTHS ENDED MAY 31, 2019
	Three months ended November 30,
Revenue	$	-		$	-		$	-			-
	2020			2019
Cost of goods sold		-			-			-			-
REVENUE	$	12,382		$	10,096
Gross profit		-			-			-			-
Cost of revenue		(11,763	)		-
Operating expenses
GROSS PROFIT		619			10,096
General and administrative expenses		4(62,~~669~~891	)		3(1,~~876~~381	)		~~11,519~~			~~12,709~~
Net loss from operations		(4,669	)		(3,876	)		(11,519	)		(12,709	)
PROFIT (LOSS) FROM OPERATIONS		(62,272	)		8,715
Loss before provision for income taxes
Other income		-			6,795
Provision for income taxes		-						-
PROFIT (LOSS) BEFORE INCOME TAX		(62,272	)		15,510
Net loss	$	(4,669	)	$	(3,876	)	$	(11,519	)	$	(12,709	)
Income tax expense		(88	)		-
Loss per common share:
NET PROFIT (LOSS) AND TOTAL COMPREHENSIVE INCOME (LOSS)	$	(62,360	)	$	15,510
Basic and Diluted	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	(0.00	)
Profit (loss) per common share:
Weighted Average Number of Common Shares Outstanding:
Basic and diluted	$	(0.01	)	$	0.00
Basic and Diluted		2,574,000			2,574,000			2,574,000			2,574,000
Weighted Average Number of Common Shares Outstanding:
Basic and diluted		6,692,182			6,692,182

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

TEMIR CORP. CONDENSED CONSOLDIATED STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT) FOR THE THREE MONTHS ENDED NOVEMBER 30, 2020 and 2019 (Unaudited) (In U.S. dollars except for number of shares)

CONDENSED STATEMENT OF CHANGES IN STOCKHOLDERS’ DEFICIT

	Number of Common shares		Amount		Additional Paid-in Capital		Accumulated Deficit			Total Stockholders’ Equity (Deficit)

Balance as of September 1, 2019		6,692,182	$	6,692	$	444,590	$	(430,375	)	$	20,907
Net profit		-		-		-		15,510			15,510
Balance as of November 30, 2019		6,692,182	$	6,692	$	444,590	$	(414,865	)	$	36,417

Balance as of September 1, 2020		6,692,182	$	6,692	$	444,590	$	(695,468	)	$	(244,186	)
Net loss		-		-		-		(62,360	)		(62,360	)
Balance as of November 30, 2020		6,692,182	$	6,692	$	444,590	$	(757,828	)	$	(306,546	)

~~(UNAUDITED)~~The accompanying notes are an integral part of these condensed financial statements.

	Number of Common Shares		Amount $		Additional Paid-In-Capital $		Accumulated Deficit $			Total $
FOR THE NINE MONTHS ENDED MAY 31, 2019
Balances as of September 1, 2018		2,574,000		2,574		28,126		(30,797	)		(97	)
Net loss for the period		-		-		-		(12,709	)		(12,709	)
Balances a s of May 31, 2019		2,574,000		2,574		28,126		(43,506	)		(12,806	)
FOR THE NINE MONTHS ENDED MAY 31, 2020
Balances as of September 1, 2019		2,574,000		2,574		43,054		(46,126	)		(498	)
Net loss for the period		-		-		-		(11,519	)		(11,519	)
Balances as of May 31, 2020		2,574,000		2,574		43,054		(57,645	)		(12,017	)
FOR THE THREE MONTHS ENDED MAY 31, 2019
Balances as of March 1, 2019		2,574,000		2,574		28,126		(39,630	)		(8,930	)
Net loss for the period		-		-		-		(3,876	)		(3,876	)
Balances as of May 31, 2019		2,574,000		2,574		28,126		(43,506	)		(12,806	)
FOR THE THREE MONTHS ENDED MAY 31, 2020
Balances as of March 1, 2020		2,574,000		2,574		43,054		(52,976	)		(7,348	)
Net loss for the period		-		-		-		(4,669	)		(4,669	)
Balances as of May 31, 2020		2,574,000		2,574		43,054		(57,645	)		(12,017	)

~~The~~TEMIR CORP. CONDENSED ~~accompanying~~CONSOLDIATED ~~notes~~STATEMENTS ~~are~~OF anCASH ~~integral~~FLOWS ~~part~~FOR ofTHE ~~these~~THREE ~~condensed~~MONTHS ~~financial~~ENDED ~~statements~~NOVEMBER 30, 2020 and 2019 (Unaudited) (In U.S. dollars except for number of shares)

	Three months ended November 30,
	2020			2019

CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) profit	$	(62,360	)	$	15,510
Change in operating assets and liabilities
Loans receivable		-			575
Accounts receivable		(461	)		(3,029	)
Prepaid expenses, deposits and other current assets		-			8,205
Accounts payable, other payables and accrued liabilities		748			(7,564	)

Tax payable		88			-
Amount due to a related company		18,000			-
Net cash (used in) provided by operating activities		(43,985	)		13,697

CASH FLOWS FROM FINANCING ACITIVITIES
Advances from a shareholder		300,583			6,971
Repayment to a shareholder		(243,466	)		(29,905	)
Net cash provided by (used in) financing activities		57,117			(22,934	)

Net increase (decrease) in cash and cash equivalents		13,132			(9,237	)
Cash and cash equivalents, beginning of period		2,580			10,252
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	15,712		$	1,015

SUPPLEMENTAL CASH FLOWS INFORMATION
Interest paid	$	-		$	-
Income tax paid	$	-		$	-

~~TEMIR~~The accompanying ~~CORP.~~notes are an integral part of these financial statements

~~CONDENSED STATEMENTS OF CASH FLOWS~~4

~~(UNAUDITED)~~TEMIR CORP.

	NINE MONTHS ENDED MAY 31, 2020			NINE MONTHS ENDED MAY 31, 2019
Cash flows from operating activities
Net loss	$	(11,519	)	$	(12,709	)
Adjustments to reconcile net loss to net cash used in operating activities
Amortization expenses		-			501
Changes in operating assets and liabilities:
Accounts payable and accrued liabilities		2,000			-
Net cash used in operating activities		(9,519	)		(12,208	)
Cash flows from financing activities
Advances from a related party		9,519			-
Proceeds of loan from shareholder		-			9,398
Net cash provided by financing activities		9,519			9,398
Net decrease in cash and equivalents		-			(2,810	)
Cash and equivalents at beginning of the period		-			2,873
Cash and equivalents at end of the period	$	-		$	63
Supplemental cash flow information:
Cash paid for:
Interest	$	-		$	-
Taxes	$	-		$	-

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

~~The~~FOR ~~accompanying~~THE ~~notes~~THREE ~~are~~MONTHS ~~an integral~~ENDED NOVEMBER ~~part~~30, of2020 ~~these~~AND ~~condensed financial statements.~~2019

4(Unaudited)

~~TEMIR~~(In ~~CORP~~U.S. dollars except for number of shares)

~~NOTES~~1. TOTITLE, ~~THE~~ORGANIZATION ~~UNAUDITED~~AND ~~FINANCIAL STATEMENTS~~REORGANIZATION

~~FOR~~TEMIR CORP. ~~THE~~(“Temir” ~~THREE~~or ~~AND~~the ~~NINE~~“Company”) ~~MONTHS~~is ~~ENDED~~a ~~MAY~~corporation established under the corporation laws in the State 31of Nevada on May 19, ~~2020~~2016. ~~AND~~The Company commenced operations in tourism. Temir Corp. was a travel agency that organized individual and group tours in Kyrgyzstan, such as cultural, recreational, sport, business, ecotours and other travel tours. The company’s principal executive offices are located at 54 Frukovaya Street, Bishkek, Kyrgyzstan 720027. On July 15, 2019, the Company’s principal office relocated to Room 1204-06, 12/F, 69 Jervois Street, Sheung Wan, Hong Kong. On January 15, 2020, the Company’s principal office has been relocated to Suite 1802-03, 18/F, Strand 50, 50 Bonham Strand, Sheung Wan, Hong Kong. The management of Temir Corp is planning to restructure the Company’s business from travel agency to a Fintech Company with major business focusing on financials services and using the internet, mobile devices, software technology or cloud services to perform or connect with financial services.

~~NOTE~~On April ~~1 –~~2, ~~ORGANIZATION~~2020, ~~AND~~the ~~BUSINESS~~Company as purchaser and Ace Vantage Investments Limited (equally held by Mr. Roy Kong Hoi Chan (an executive director and president of the Company, “Mr. Roy Chan”) and his father) as vendor (the “vendor”) entered into a sale and purchase agreement (the “Agreement”) with respect to the acquisition (the “Transaction”) of the entire issued share capital of JTI Financial Services Group Limited (“JTI”) for a consideration of $4,686,272, which would be satisfied by the allotment and issue of the shares of the Company.

~~TEMIR CORP. (the “Company”)~~Under ~~is a corporation established under~~ the ~~corporation~~terms ~~laws~~and inconditions ~~the State~~ of ~~Nevada~~the ~~on May 19~~Agreement, ~~2016.~~the ~~The~~ Company offered, ~~commenced~~sold ~~operations in tourism. Temir Corp. was a travel agency that organized individual~~ and ~~group tours in Kyrgyzstan~~issued 1, ~~such as cultural~~874,508 ~~recreational, sport,~~shares ~~business,~~of ~~ecotours~~common ~~and~~stock ~~other travel tours. On July 15, 2019,~~ of the Company’s ~~principal~~as ~~office~~consideration ~~relocated~~shares to(the ~~Room~~“Consideration ~~1204-06, 12/F,~~Shares”) 69at ~~Jervois~~the ~~Street,~~issue ~~Sheung~~price ~~Wan,~~of ~~Hong Kong~~$2.5 Onper ~~January~~Consideration ~~15,~~Share for ~~2020,~~ the ~~Company’s~~acquisition ~~principal office has been relocated to Suite 1802-03, 18/F, Strand 50, 50 Bonham Strand, Sheung Wan, Hong Kong. The management~~ of ~~Temir~~all ~~Corp is planning to restructure~~ the ~~Company’s~~issued ~~business~~share ~~from~~capital ~~travel~~of ~~agency to an investment holding with major business being diversified financials~~JTI.

~~The~~On June ~~Company~~30, ~~has~~2020, ~~adopted~~pursuant ~~August~~to 31the ~~fiscal~~amendment to the Agreement, the parties agreed to adjust (i) the consideration of the Transaction ~~year~~from ~~end~~$4,686,272 to $10,295,455; and (ii) the number of Consideration Shares from 1,874,508 shares to 4,118,182 shares. The effect of the issuance is that the Vendor will hold approximately 61.54% of the issued and outstanding shares of common stock of the Company.

~~NOTE~~Mr. Roy ~~2 –~~Chan, ~~GOING~~the ~~CONCERN~~founder of JTI, an executive director and president of the Company, is the holder of 629,350 shares of common stock of the Company prior to the Transaction.

~~The accompanying interim condensed financial~~After ~~statements have been prepared on a going concern, which contemplates~~ the ~~realization~~issue of ~~assets~~4,118,182 ~~and~~shares ~~liquidation~~ of ~~liabilities~~Temir, ~~in the~~Ace ~~normal~~Vantage ~~course~~holds ~~of business~~61.54% ~~The~~shareholding ~~Company has not yet established an ongoing source~~ of ~~revenues~~Temir ~~sufficient~~and toMr. ~~cover~~Roy ~~its~~Chan ~~operating costs~~ and ~~allow it to continue as a going concern~~Mr. ~~The~~Chan ~~Company~~Hip ~~has accumulated deficit from inception~~ Fong (~~May~~father ~~19, 2016) to May 31, 2020~~ of ~~$57,645.~~Mr ~~These~~Roy ~~factors~~Chan) ~~among~~together ~~others~~hold ~~raise substantial doubt about the ability of the Company to continue as a going concern~~70.94%.

InUpon completion ~~order~~of tothe ~~continue~~Transactions ason aJuly ~~going concern~~6, ~~the~~ ~~Company will need~~2020, ~~among~~Temir ~~other~~became ~~things,~~interested ~~additional~~in ~~capital resources. Management’s plan is to obtain such resources for~~ the ~~Company~~entire byequity ~~obtaining~~interest ~~capital~~in ~~from~~JTI, ~~management~~ and ~~significant~~as ~~shareholders sufficient to meet its minimal operating expenses and seeking third party equity and/or debt financing. However~~such, ~~management cannot provide any assurances that the Company will be~~JTI ~~successful~~became ina ~~accomplishing~~wholly-owned ~~any~~subsidiary of ~~its plans~~Temir. ~~These~~For ~~interim condensed~~ financial ~~statements~~accounting dopurposes, ~~not~~the ~~include~~share ~~any~~exchange ~~adjustments~~was ~~related to~~accounted ~~the~~for ~~recoverability~~as ~~and~~a ~~classification~~reverse acquisition ofby ~~assets~~JTI, ~~or the amounts~~ and ~~classification~~resulted ofin ~~liabilities~~a ~~that~~recapitalization, ~~might~~with beJTI ~~necessary~~being ~~should~~ the ~~Company~~accounting beacquirer ~~unable~~and toTemir ~~continue~~ as athe ~~going~~acquired ~~concern~~entity.

~~NOTE~~JTI Financial ~~3 –~~Services ~~SUMMARY~~Group OFLimited ~~SIGNIFICANT~~(“JTI” ~~ACCOUNTING~~or ~~POLICIES~~the “Company”) was incorporated in Hong Kong, China on February 8, 2019.

~~Basis~~The Company ofthrough ~~Presentation~~its subsidiaries provide diversified financial services. JTI has four operating subsidiaries, namely, JTI Finance Limited (“JF”), Concept We Mortgage Broker Limited (“CW”), JTI Property Agency Limited (“JP”) and JTI Asset Management Limited (“JA”).

~~The unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).~~5

5TEMIR CORP.

~~The~~NOTES ~~interim~~TO ~~condensed~~THE ~~financial information~~CONDENSED asCONSOLIDATED ~~of May 31, 2020 and for the three and nine months ended May 31, 2020 and May 31, 2019 have been prepared by the~~FINANCIAL Company without audit, pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures, which are normally included in the financial statements prepared in accordance with U.S. GAAP have not been included. The interim condensed financial statements are not necessarily indicative of the results of operations for the full year. These interim condensed financial statements and related footnotes should be read in conjunction with the financial statements and footnotes thereto included in the Company’s Annual Report on Form 10K for the year ended August 31, 2019, filed with the Securities and Exchange Commission.STATEMENTS

InFOR ~~the~~THE ~~opinion~~THREE ofMONTHS ~~management, all adjustments~~ENDED NOVEMBER ~~(which include all significant normal and recurring adjustments) necessary to present a fair statement of the Company’s interim condensed consolidated financial position as of May 31~~30, 2020, ~~its~~AND ~~interim condensed consolidated results of operations and cash flows for the three and nine months ended May 31, 2020 and~~ 2019~~, as applicable, have been made.~~

~~Use of Estimates~~(Unaudited)

~~Preparing~~(In ~~condensed financial statements in conformity with~~ U.S. ~~GAAP~~dollars ~~requires~~except ~~management~~for tonumber ~~make estimates and assumptions that affect the reported amounts~~ of ~~assets,~~ ~~liabilities, revenue, and expenses. Actual results and outcomes may differ from management’s estimates and assumptions.~~shares)

Stock-Based Compensation

Company name		Place/date of incorporation	Principal activities

1.	JTI Finance Limited (“JF”)	Hong Kong, China/ December 29, 2011	Money lending

2.	Concept We Mortgage Broker Limited (“CW”)	Hong Kong, China / December 18, 2013	Mortgage broker providing mortgage related consultancy services

3.	JTI Property Agency Limited (“JP”)	Hong Kong, China/ December 21, 2011	Property agency

4.	JTI Asset Management Limited (“JA”)	Hong Kong, China/ May 2, 2017	General consulting services

AsThe formation of ~~May~~JTI 31Financial Services Group Limited was completed in March 2019. Upon incorporation, ~~2020~~JTI issued 1 ordinary share at HK$1 to Mr. Roy Kong Hoi Chan. On March 20, 2019, JTI issued 9,999,999 shares of the Company ~~has~~to ~~not~~Ace Vantage Investments Limited ~~issued~~(“Ace ~~any~~Vantage”) ~~stock-based~~at ~~payments~~a tototal cash consideration of HK$3,509,999.65 ($450,000), resulting a total share capital of 10,000,000 shares at HK$3,510,000.65 ($450,000). Ace Vantage was 50% owned by Mr. Roy Kong Hoi Chan and 50% owned by Mr. Chan Hip Fong, father of Mr. Roy Kong Hoi Chan. The Company is owned and controlled by the same control group as JF, CW, JP and JA. On March 29, 2019, the beneficial shareholders of JF, CW, JP and JA exchanged 100% of their shareholding of JF, CW, JP and JA for the shares of the Company (the “Share Exchange”). The Share Exchange has been accounted for as a common control transaction. Other than its ~~employees~~100% ownership of JF, CW, JP and JA, JTI has no significant assets and no other business operations.

~~Stock-based~~JF was ~~compensation~~incorporated isin ~~accounted~~Hong ~~for at~~Kong, ~~fair~~China ~~value~~on inDecember ~~accordance~~29, ~~with~~2011 ~~ASC~~as ~~718,~~a ~~when~~company ~~applicable~~with limited liability. ToUpon ~~date~~incorporation, ~~the~~JF ~~Company~~issued ~~has~~1 ordinary ~~not~~share ~~adopted~~to aAce ~~stock~~Vantage ~~option~~at ~~plan~~HK$1. ~~and~~On ~~has~~March ~~not granted~~29, ~~any~~2019, ~~stock~~Ace ~~options~~Vantage transferred 100% of their shareholding of JF to JTI.

~~Income~~CW was ~~Taxes~~incorporated in Hong Kong, China on December 18, 2013 as a company with limited liability. Upon incorporation, CW issued 10,000 ordinary shares to Century Crown Investment Limited at HK$1 each. Century Crown Investment Limited was incorporated in Hong Kong, China and 100% held by Ace Vantage. On March 29, 2019, Century Crown Investment Limited transferred 100% of their shareholding of CW to JTI.

~~The Company follows the liability method~~JP ofwas ~~accounting~~incorporated ~~for~~in ~~income~~Hong ~~taxes.~~Kong, ~~Under~~China ~~this~~on ~~method~~December 21, ~~deferred~~2011 ~~income~~as ~~tax~~a ~~assets~~company ~~and~~with ~~liabilities~~limited ~~are~~liability. ~~recognized~~Upon ~~for~~incorporation, ~~the~~JP ~~estimated~~issued 1 ~~tax~~ordinary ~~consequences~~share ~~attributable~~ to ~~differences~~Ace ~~between~~Vantage ~~the~~at ~~financial statement carrying values and their respective income tax basis (temporary differences)~~HK$1. ~~The~~On ~~effect~~March on29, ~~deferred~~2019, ~~income~~Ace ~~tax~~Vantage ~~assets~~transferred ~~and~~100% ~~liabilities~~ of atheir ~~change~~shareholding inof ~~tax~~JP ~~rates~~to ~~is recognized in income in the period that includes the enactment date~~JTI.

~~New~~JA was ~~Accounting~~incorporated ~~Pronouncements~~in Hong Kong, China on May 2, 2017 as a company with limited liability. Upon incorporation, JA issued 1 ordinary share to Ace Vantage at HK$1. On March 29, 2019, Ace Vantage transferred 100% of their shareholding of JA to JTI

~~There~~The acquisition ~~were~~of ~~various~~JF, ~~accounting~~CW, ~~standards~~JP and JA by JTI has been accounted for as common control transactions in a manner similar to a pooling of interests and ~~interpretations~~there ~~issued~~was ~~recently~~no recognition of any goodwill or excess of the acquirers’ interest in the net fair value of the acquirees’ identifiable assets, ~~none~~liabilities and contingent liabilities over cost at the time of ~~which~~the ~~are~~common ~~expected~~control tocombinations. aTherefore, these ~~have~~transactions were recorded at historical cost with a ~~material~~reclassification ~~impact~~of onequity ~~our~~from ~~financial~~retained ~~position~~profits to additional paid in capital to reflect the deemed value of consideration given in the local jurisdiction and the capital structure of JF, ~~operations~~CW, JP orand ~~cash~~JA. ~~flows~~The consolidated financial statements of the Company include all of the accounts of the Company and its subsidiaries, JF, CW, JP and JA for all periods presented. All material intercompany transactions and balances have been eliminated in the consolidation.

~~NOTE~~TEMIR ~~4 – CAPITAL STOCK~~CORP.

~~The~~NOTES ~~Company~~TO ~~has~~THE ~~75,000,000~~CONDENSED ~~shares~~CONSOLIDATED ~~of common~~FINANCIAL ~~stock authorized with a par value of $0.001 per share.~~STATEMENTS

AsFOR ofTHE ~~May~~THREE 31MONTHS ENDED NOVEMBER 30, 2020, ~~the~~AND ~~Company had 2,574,000 shares issued and outstanding.~~2019

~~NOTE 5 – RELATED PARTY TRANSACTIONS~~(Unaudited)

(In support of the Company’s efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of its equity or traditional debt financingU.S. ~~The~~dollars ~~major~~except ~~shareholder of the Company has provided financial support to the Company~~ for anumber ~~period~~ of ~~twelve months commencing from July 6, 2020.Amounts represent advances~~ ~~or amounts paid in satisfaction of liabilities. The advances are considered temporary in nature and have not been formalized by a promissory note.~~shares)

~~Since May 19, 2016 (Inception) through May 31, 2020, the Company’s former President and director of the Company advanced loans to the Company to pay for incorporation costs and operating expenses~~2. AsSUMMARY ofOF ~~August~~SIGNIFICANT ~~31,~~ACCOUNTING ~~2019, the amount outstanding of $14,928 was capitalized as additional paid-in capital of the Company.~~POLICIES

~~As of May 31, 2020, the amount outstanding~~Basis of $9,519 was due to Ace Vantage Investments Limited. Roy Chan, president of the Company, is also a director of Ace Vantage Investments Limited. The loan is non-interest bearing, due upon demand and unsecured.presentation

~~NOTE~~The unaudited 6condensed –financial ~~SUBSEQUENT~~statements ~~EVENTS~~have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

~~(a)~~The interim Oncondensed ~~April~~financial 2,information ~~2020,~~as ~~the~~of ~~Company~~November as30, ~~purchaser~~2020 and ~~Ace~~for ~~Vantage Investments Limited (~~the ~~“Vendor”)~~three asmonths ~~vendor~~ended ~~entered~~November ~~into~~30, a2020 ~~sale~~ and ~~purchase~~2019 ~~agreement~~have been (prepared by the ~~“Agreement”)~~Company ~~with~~without ~~respect~~audit, pursuant to the ~~acquisition~~rules ~~(the~~and ~~“Transaction”)~~regulations of the ~~entire~~SEC. ~~issued~~Certain ~~share~~information ~~capital~~and offootnote disclosures, ~~JTI~~which ~~Financial~~are ~~Services~~normally ~~Group~~included ~~Limited~~in ~~(“JTI”)~~the ~~for~~financial astatements ~~consideration~~prepared ofin ~~US$4,686,272,~~accordance ~~which~~with ~~will~~U.S. beGAAP ~~satisfied~~have bynot ~~the~~been ~~allotment~~included. The ~~and~~interim ~~issue~~condensed financial statements are not necessarily indicative of the ~~shares~~results of operations for the ~~Company.~~full Mryear. ~~Roy~~These interim ~~Kong~~condensed ~~Hoi~~financial ~~Chan~~statements ~~(“Mr.~~and ~~Roy~~related ~~Chan”),~~footnotes anshould ~~executive~~be ~~director~~read ~~and~~in ~~president~~conjunction ofwith the ~~Company,~~financial isstatements ~~currently~~and ~~holding~~footnotes thereto ~~50%~~included ~~shareholding~~ in the ~~Vendor.~~Company’s ~~The~~Annual ~~remaining~~Report ~~50%~~on ~~equity~~Form ~~interest~~10K infor the ~~Vendor~~year isended ~~held~~August by31, ~~the~~2020, ~~father~~filed ofwith ~~Mr.~~the ~~Roy~~Securities and ~~Chan~~Exchange Commission.

~~Under~~ In the ~~terms~~opinion ~~and conditions~~ of ~~the Agreement~~management, ~~the~~all ~~Company~~adjustments ~~offered,~~(which ~~sold~~include ~~and~~all ~~issued~~significant ~~1,874,508~~normal ~~shares~~and ofrecurring ~~common~~adjustments) ~~stock~~necessary ofto ~~the~~present a ~~Company~~fair asstatement ~~consideration~~of ~~shares (~~the ~~“Consideration~~Company’s ~~Shares”)~~interim atcondensed ~~the~~consolidated ~~issue~~financial ~~price~~position as of ~~US$2.5~~November ~~per~~30, ~~Consideration~~2020, ~~Share~~its ~~for~~interim condensed ~~the~~consolidated ~~acquisition~~results of ~~all~~operations ~~the~~and ~~issued share~~cash ~~capital~~flows offor ~~JTI.~~the ~~Upon~~three ~~completion~~months onended ~~July~~November 630, 2020, ~~the~~and ~~Company would be interested in the entire equity interest in JTI~~2019, ~~and~~ as ~~such~~applicable, have ~~JTI~~been ~~becomes a wholly-owned subsidiary of the Company~~made.

~~On April 29, 2020, the~~Going Company as purchaser and the Vendor entered into an amendment (the “Amendment”) to the Agreement. Pursuant to the Amendment, the parties have agreed to extend the Long Stop Date (as defined in the Agreement) to June 30, 2020 or such later date as may be agreed between the Vendor and the Company.concern

7The accompanying condensed consolidated financial statements have been prepared using the going concern basis of accounting, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business.

OnAs of ~~June~~November 30, 2020, the Company as ~~purchaser~~has suffered recurring losses from operations, and ~~the~~records ~~Vendor~~an ~~entered~~accumulated ~~into~~deficit and a ~~further~~working capital ~~amendment~~deficit ~~(the~~of $757,828 ~~“Second~~and ~~Amendment”)~~$306,546, torespectively. ~~the~~These ~~Agreement~~conditions ~~and~~raise substantial doubt about the ~~Amendment.~~Company’s ~~Pursuant~~ability to ~~the~~continue ~~Second~~as ~~Amendment,~~a ~~the~~going ~~parties~~concern. ~~have~~The ~~agreed~~continuation toof ~~further~~the ~~extend~~Company ~~the~~as ~~Long~~a ~~Stop~~going ~~Date~~concern is ~~(as~~dependent ~~defined~~upon inimproving its profitability and the ~~Agreement)~~continuing ~~to July~~financial ~~31,~~support ~~2020~~from its shareholders or ~~such~~other ~~later~~debt ~~date~~or ascapital sources. ~~may~~Management bebelieves ~~agreed~~the ~~between~~existing shareholders or external financing will provide the ~~Vendor~~additional ~~and~~cash to meet the Company’s obligations as they become due.

OnNo ~~June~~assurance ~~30,~~can ~~2020,~~be ~~the~~given ~~Company~~that any asfuture ~~purchaser~~financing, ~~and~~if ~~the~~needed, ~~Vendor~~will ~~entered~~be ~~into~~available aor, ~~further~~if ~~amendment~~available, ~~(the~~that ~~“Third~~it ~~Amendment”)~~will tobe ~~the~~on ~~Agreement,~~terms ~~the~~that ~~Amendment and~~are ~~the~~satisfactory ~~Second Amendment. Pursuant~~ to the ~~Third~~Company. Even ~~Amendment,~~if the ~~parties~~Company ~~have~~is ~~agreed~~able to ~~adjust~~obtain ~~(i)~~additional ~~the consideration of the Transaction from US$4~~financing,~~686,272~~ toif ~~US$10~~needed,~~295,455;~~ ~~and~~it ~~(ii)~~may ~~the~~contain ~~number~~undue ofrestrictions ~~Consideration~~on ~~Shares~~its ~~from 1~~operations,~~874,508~~ ~~shares to 4,118,182 Consideration~~in ~~Shares.~~the ~~Save~~case asof ~~disclosed~~debt ~~above~~financing, ~~all~~or ~~the~~cause ~~other~~substantial ~~terms~~dilution infor ~~the~~its ~~Agreement~~stock ~~remain~~holders, ~~unchanged and~~ in ~~full~~the ~~force~~case ~~and~~of ~~effect~~equity financing.

~~After~~In March 2020, the ~~issue~~World Health Organization declared the outbreak of 4COVID-19 as a global pandemic,~~118,182~~ ~~shares~~which continues to spread around the world. There is significant uncertainty around the breadth and duration of ~~Temir~~business disruptions related to COVID-19, ~~Ace~~as ~~Vantage~~well as ~~will~~its ~~hold~~impact ~~61.54%~~on ~~shareholding~~the ofHong ~~Temir~~Kong’s and Mrglobal economy. ~~Roy~~While ~~Kong~~it ~~Hoi~~is ~~Chan~~difficult ~~and~~to ~~Mr.~~estimate ~~Chan~~the ~~Hip~~financial ~~Fong~~impact ~~will~~of ~~together~~COVID-19 on ~~hold~~the Company’s operations, management believes that COVID-19 could have a material impact on its financial results at 70this time.~~94%.~~

~~Upon~~These condensed ~~completion of the Transactions~~consolidated onfinancial ~~July~~statements 6,do ~~2020,~~not ~~Temir~~include ~~became~~any ~~interested~~adjustments into reflect the ~~entire~~possible ~~equity~~future ~~interest~~effects inon ~~JTI,~~the recoverability and ~~as such, JTI became a wholly-owned subsidiary~~classification of ~~Temir.~~assets ~~For~~and ~~financial~~liabilities ~~accounting~~that ~~purposes,~~may ~~the~~result ~~share exchange will be accounted for as a reverse acquisition by JTI, and resulted~~ in athe ~~recapitalization,~~Company ~~with~~not ~~JTI~~ being ~~the~~able ~~accounting~~to ~~acquirer~~continue ~~and Temir~~ as ~~the~~a ~~acquired~~going ~~entity~~concern.

(b) The spread of the coronavirus (“COVID-19”) around the world has caused significant business disruption during 2020. In March 2020, the World Health Organization declared the outbreak of COVID-19 as a global pandemic, which continues to spread around the world. There is significant uncertainty around the breadth and duration of business disruptions related to COVID-19, as well as its impact on the Hong Kong’s and global economy. While it is difficult to estimate the financial impact of COVID-19 on the Company’s operations, management believes that COVID-19 could have a material impact on its financial results in year 2020.7

8TEMIR CORP.

~~ITEM~~NOTES 2.TO ~~MANAGEMENT’S~~THE ~~DISCUSSION~~CONDENSED ~~AND~~CONSOLIDATED ~~ANALYSIS OF~~ FINANCIAL ~~CONDITION~~ ~~AND RESULTS OF OPERATION~~STATEMENTS

~~FORWARD~~FOR ~~LOOKING~~THE ~~STATEMENTS~~THREE MONTHS ENDED NOVEMBER 30, 2020 AND 2019

~~Statements made in this Form 10-Q that are not historical or current facts are “forward-looking statements” made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933~~ (~~the “Act”~~Unaudited) and Section 21E of the Securities Exchange Act of 1934. These statements often can be identified by the use of terms such as “may,” “will,” “expect,” “believe,” “anticipate,” “estimate,” “approximate” or “continue,” or the negative thereof. We intend that such forward-looking statements be subject to the safe harbors for such statements. We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management’s best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events.

~~General~~(In U.S. dollars except for number of shares)

~~We were incorporated in the State~~ Use of Nevada on May 19, 2016. We commence operations in tourism. We commenced operations in tourism. We were a travel agency that organized individual and group tours in Kyrgyzstan, such as cultural, recreational, sport, business, ecotours and other travel tours. Services and products provided by our company included custom packages according to the client’s specifications. We developed and offered our own tours in Kyrgyzstan as well as third-party suppliers.estimates

OnPreparing financial ~~July~~statements ~~15,~~in ~~2019,~~conformity ~~the~~with ~~Company’s~~U.S. ~~principal office~~GAAP ~~relocated~~requires management to ~~Room~~make ~~1204-06,~~estimates ~~12/F,~~and 69assumptions ~~Jervois~~affecting ~~Street,~~the ~~Sheung~~reported amounts ~~Wan,~~of ~~Hong~~assets ~~Kong~~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. OnThe ~~January~~more ~~15,~~significant ~~2020,~~areas ~~our~~requiring ~~principal~~the ~~office~~use ~~relocated~~of management’s estimates and assumptions relate to ~~Suite~~allowance ~~1802-03,~~for ~~18/F~~doubtful accounts, ~~Strand~~impairment ~~50,~~of 50long-lived ~~Bonham~~assets ~~Strand,~~and ~~Sheung~~valuation allowance ~~Wan,~~for ~~Hong~~deferred ~~Kong~~tax assets. ~~Our~~Management ~~management~~bases isits ~~planning~~estimates toon ~~restructure~~historical ~~our~~experience ~~business~~and on various other assumptions that are believed to be reasonable under the circumstances. Accordingly, actual results may differ significantly from athese ~~travel~~estimates. In ~~agency~~addition, todifferent anassumptions ~~investment~~or ~~holding~~circumstances ~~with~~could ~~the~~reasonably ~~major~~be ~~business~~expected ~~being~~to ~~diversified~~yield ~~financials~~different results.

~~Reverse~~Cash and ~~Acquisition~~cash ~~of JTI~~ equivalents

OnFor purposes ~~April~~of ~~2, 2020,~~ the ~~Company~~cash asflow ~~purchaser and~~statements, ~~Ace Vantage Investments Limited (~~the ~~“Vendor”)~~Company asconsiders ~~vendor~~all ~~entered~~highly ~~into~~liquid ainvestments ~~sale and purchase agreement (the “Agreement”)~~ with ~~respect~~original tomaturities ~~the acquisition (the “Transaction”)~~ of ~~the~~three ~~entire issued share capital of JTI Financial Services Group~~months ~~Limited~~or ~~(“JTI”)~~less ~~for~~at ~~consideration of US$4,686,272, which will be satisfied by~~ the ~~allotment~~time ~~and issue~~ of ~~the~~purchase ~~shares of~~to ~~the~~be ~~Company.~~cash Mrequivalents. ~~Roy~~Cash ~~Kong~~includes ~~Hoi~~cash ~~Chan~~on ~~(“Mr.~~hand ~~Roy Chan”), an executive director~~ and ~~president~~demand ofdeposits ~~the~~in ~~Company,~~accounts ~~is currently~~maintained ~~holding~~with ~~50%~~financial ~~shareholding~~institutions inwithin the ~~Vendor.~~Hong ~~The remaining 50% equity interest in the Vendor is held by the father of Mr~~Kong. ~~Roy Chan.~~

9Loans receivable

~~Under~~Loans receivable ~~the~~primarily ~~terms~~represent ~~and~~loan ~~conditions~~amounts ofdue ~~the Agreement,~~from ~~the~~customers. ~~Company~~Loans ~~offered,~~receivable ~~sold~~are ~~and~~recorded ~~issued~~at ~~1,874,508~~unpaid ~~shares~~principal balances net of ~~common~~provision ~~stock~~that ofreflects the Company’s asbest ~~consideration~~estimate ~~shares~~of (the ~~“Consideration~~ ~~Shares”)~~amounts atthat ~~the~~will ~~issue~~not ~~price~~be ~~of US$2~~collected.5 ~~per~~The ~~Consideration~~loans ~~Share~~receivable ~~for~~portfolio consists ~~the acquisition~~ of ~~all~~business ~~the issued~~and ~~share~~personal ~~capital~~loans. As of ~~JTI.~~November ~~Upon~~30, ~~completion~~2020 onand ~~July~~August 631, 2020, the Company ~~became~~has ~~interested~~nil inloans ~~the entire equity interest in JTI, and as such, JTI became a wholly-owned subsidiary of the Company~~receivable.

~~On April 29, 2020, the Company as purchaser~~Provision ~~and~~for ~~the~~loan Vendor entered into an amendment (the “Amendment”) to the Agreement. Pursuant to the Amendment, the parties agreed to extend the Long Stop Date (as defined in the Agreement) to June 30, 2020 or such later date as may be agreed between the Vendor and the Company.losses

OnThe provision ~~June~~for ~~30,~~loan ~~2020,~~losses ~~the~~is ~~Company~~increased asby ~~purchaser and~~charges ~~the~~to ~~Vendor~~income ~~entered~~and ~~into~~decreased aby ~~further~~charge ~~amendment~~offs (net of recoveries). Recoveries represent subsequent collection of amounts previously charged-off. The increase in provision for loan losses is the netting effect of “~~Second~~reversal” and ~~Amendment~~“provision”) tofor ~~the~~both ~~Agreement~~business and ~~the~~personal ~~Amendment~~loans. ~~Pursuant to~~If the ~~Second~~ending ~~Amendment,~~balance of the ~~parties~~provision ~~agreed~~for toloan ~~further~~losses ~~extend~~after any charge offs (net of recoveries) is less than the ~~Long~~beginning ~~Stop~~balance, ~~Date~~it (will be recorded as ~~defined~~a “reversal”; if it is larger, it will be recorded as a “provision” in the ~~Agreement)~~provision tofor ~~July~~loan ~~31,~~loss. ~~2020 or~~The ~~such~~netting ~~later~~amount ~~date~~of asthe ~~may~~“reversal” and bethe ~~agreed~~“provision” ~~between~~is presented in the ~~Vendor~~statements of operations and ~~the~~comprehensive ~~Company~~income.

OnThe provision ~~June~~consists ~~30,~~of ~~2020,~~specific ~~the~~and ~~Company~~general ascomponents. ~~purchaser and~~The specific component consists of the ~~Vendor~~amount ~~entered~~of ~~into~~impairment arelated ~~further~~to loans ~~amendment~~that ~~(the~~have ~~“Third~~been ~~Amendment”)~~evaluated toon ~~the~~an ~~Agreement~~individual basis, and the ~~Amendment~~general ~~and~~component consists of the ~~Second Amendment.~~amount ~~Pursuant~~of impairment related to ~~the~~loans ~~Third~~that ~~Amendment,~~have ~~the~~been ~~parties~~evaluated ~~agreed~~on toa ~~adjust~~collective ~~(i)~~basis. ~~the~~Loans ~~consideration~~are ofconsidered ~~the~~impaired ~~Transaction~~when, ~~from~~based ~~US$4,686,272 to~~on ~~US$10,295,455;~~current information and events, ~~(ii)~~it ~~the~~is ~~number~~probable ofthat ~~Consideration~~the ~~Shares~~Company ~~from~~will ~~1,874,508~~be ~~shares~~unable to ~~4,118,182~~collect ~~Consideration~~all ~~Shares.~~amounts ~~Save~~when ~~as disclosed~~due ~~above,~~according ~~all~~to the ~~other~~contractual terms inof the loan ~~Agreement~~agreement. ~~remain~~Loans ~~unchanged~~for ~~and~~which the terms have been modified resulting in ~~full~~a ~~force~~concession, and ~~effect~~for which the borrower is experiencing financial difficulties, are considered troubled debt restructurings (“TDRs”).

~~After~~The Company recognizes a charge-off when management determines that full repayment of a loan is not probable. The primary factor in making that determination is the ~~issue~~potential outcome of ~~4,118,182~~a ~~shares~~lawsuit against the delinquent debtor. The Company will recognize a charge-off when the Company loses contact with the delinquent borrower for more than nine months or when the court rules against the Company to seize the collateral asset of the delinquent debt from either the guarantor or borrower. In addition, when the recoverability ~~Temir~~of the delinquent debt is highly unlikely, ~~Ace~~the ~~Vantage~~senior management team will ~~hold~~go 61through a stringent procedure to approve a charge-off.~~54%~~ Management ~~shareholding~~estimates the provision balance required using past loan loss experience, the nature and volume of ~~Temir~~the portfolio, information about specific borrower situations and ~~Mr.~~estimated ~~Roy~~collateral ~~Kong~~values, ~~Hoi~~economic ~~Chan~~conditions, and Mrother factors. ~~Chan~~Allocations ~~Hip~~of ~~Fong~~the provision ~~will~~may ~~together~~be ~~hold~~made 70for specific loans, but the entire provision is available for any loan that, in management’s judgment, should be charged-off.~~94%.~~

~~Upon completion of the Transactions~~The onprovision ~~July~~for 6,loan ~~2020,~~losses ~~Temir~~is ~~became~~maintained ~~interested~~at ~~in the entire equity interest in JTI, and as such, JTI became~~ a ~~wholly-owned subsidiary~~level ofbelieved ~~Temir.~~to Asbe areasonable ~~result~~by ofmanagement ~~the~~to ~~controlling~~absorb ~~financial~~probable ~~interest~~losses ~~of the former stockholders of JTI, for financial~~inherent ~~statement~~in ~~reporting purposes,~~ the ~~merger~~portfolio ~~between the Company and JTI will be treated~~ as ~~a reverse acquisition, with JTI deemed the accounting acquirer and the Company deemed the accounting acquiree under the acquisition method~~ of ~~accounting~~each ~~in accordance~~balance ~~with~~sheet ~~the Section 805-10-55 of the FASB Accounting Standards Codification~~date. The ~~reverse~~provision ~~acquisition~~ is ~~deemed~~based ~~a capital~~on ~~transaction~~factors insuch ~~substance~~as ~~whereas~~ the ~~assets~~size and ~~liabilities~~current ofrisk ~~JTI (the accounting acquirer) are carried forward to~~characteristics ~~the~~of ~~Company (~~the ~~legal~~portfolio, ~~acquirer~~an ~~and~~assessment ~~the~~of ~~reporting~~individual ~~entity)~~loans ~~at their carrying value before the combination~~ and ~~the~~actual ~~equity structure~~loss, ~~(the~~delinquency, ~~number~~ and/or ~~type~~risk ofrating ~~equity~~record ~~interests~~within ~~issued) of JTI is being retroactively restated using~~ the ~~exchange ratio established in the Share Purchase Agreement to reflect the number of shares of the Company issued to effect the acquisition~~portfolio. The number of shares of common stock issued and outstanding and the amount recognized as issued equity interests in the consolidated financial statements is determined by adding the number of shares of common stock deemed issued and the issued equity interests of JTI immediately prior to the business combination to the unredeemed shares and the fair value of the Company ~~determined~~evaluates inits ~~accordance~~provision ~~with~~for ~~the~~loan ~~guidance~~losses inon ~~ASC~~a ~~Section~~quarterly ~~805-40-55~~basis ~~applicable~~or tomore ~~business~~often ~~combinations,~~as inecessary.e. the equity structure (the number and type of equity interests issued) in the consolidated financial statements immediately post combination reflects the equity structure of the Company, including the equity interests the legal acquirer issued to effect the combination .

108

~~Impact~~TEMIR ~~of COVID-19~~CORP.

~~The~~NOTES ~~spread~~TO ofTHE ~~the~~CONDENSED ~~coronavirus~~CONSOLIDATED ~~(“COVID-19”)~~FINANCIAL around the world has caused significant business disruption in year 2020. In March 2020, the World Health Organization declared the outbreak of COVID-19 as a global pandemic, which continues to spread around the world. There is significant uncertainty around the breadth and duration of business disruptions related to COVID-19, as well as its impact on the Hong Kong’s and global economy. While it is difficult to estimate the financial impact of COVID-19 on the Company’s operations, management believes that COVID-19 could have a material impact on its financial results in year 2020.STATEMENTS

~~RESULTS~~FOR OFTHE ~~OPERATION~~THREE MONTHS ENDED NOVEMBER 30, 2020 AND 2019

The accompanying interim condensed financial statements have been prepared on a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. We have not yet established an ongoing source of revenues sufficient to cover our operating costs and allow it to continue as a going concern. We have accumulated deficit from inception (~~May 19, 2016~~Unaudited) ~~to May 31, 2020 of $57,645. These factors among others raise substantial doubt about our ability to continue as a going concern.~~

~~Our~~(In ~~continuation as a going concern is dependent upon improving our profitability and the continuing financial support from our shareholders or other debt or capital sources~~U. ~~Management believes the existing shareholders or external financing will provide the additional cash to meet our obligations as they become due~~S. ~~There~~dollars ~~can~~except befor nonumber assurance that we will be successful in our plans described above or in attracting equity or alternative financing on acceptable terms, or if at all. These financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of ~~assets and liabilities that may result in our inability to~~ ~~continue as a going concern. We believe that our current cash and financing from our existing stockholders are adequate to support our operations for at least the next 12 months.~~shares)

~~Three Months Period Ended May 31, 2020~~Interest ~~compared~~and tofee ~~Three Months period ended May 31, 2019~~ receivables

~~Revenue~~Interest and fee receivables are accrued and credited to income as earned but not received. The Company determines a loan past due status by the number of days that have elapsed since a borrower has failed to make a contractual interest or principal payment. Accrual of interest is generally discontinued when either (i) reasonable doubt exists as to the full, timely collection of interest or principal or (ii) when a loan interest or principal becomes past due by more than 90 days (The further extension of loan past due status is subject to management final approval and on case by case basis). Additionally, any previously accrued but uncollected interest is reversed. Subsequent recognition of income occurs only to the extent payment is received, subject to management’s assessment of the collectability of the remaining interest and principal. Loans are generally restored to an accrual status when it is no longer delinquent and collectability of interest and principal is no longer in doubt and past due interest is recognized at that time.

~~During the three months ended May 31, 2020~~Accounts ~~and May 31, 2019, the Company did not generate any revenue.~~receivable

~~Operating~~Accounts ~~Expenses~~receivable are presented net of an allowance for doubtful accounts. The Company maintains an allowance for doubtful accounts for estimated losses. The Company reviews the accounts receivable on a periodic basis and makes general and specific allowance when there is doubt as to the collectability of individual balances. In evaluating the collectability of individual receivable balance, the Company considers many factors, including the age of the balance, a customer’s historical payment history, its current credit-worthiness and current economic trends. Accounts are written off after exhaustive efforts at collection. The Company only grants credit terms to established customers who are deemed to be financially responsible. Credit periods to customers are within 90 days after customers received the purchased services. For the three months ended November 30, 2020 and 2019, no allowance for doubtful accounts has been made. As of November 30, 2020 and August 31, 2020, the Company has $461 and nil accounts receivable, respectively.

~~During the three months period ended May~~Impairment ~~31, 2020, we incurred total expenses and professional fees~~ of ~~$4,669,~~long-lived ~~compared to $3,876 during the three months ended May 31, 2019.~~assets

~~Our~~The Company ~~net~~evaluates ~~loss~~long lived assets for ~~the~~impairment ~~three~~at ~~months~~least ~~period~~annually and whenever events or changes in circumstances indicate ~~ended~~that ~~May~~the 31carrying value may not be recoverable from its estimated future cash flows. Based on the existence of one or more indicators of impairment, ~~2020~~the ~~was~~Company $4measures any impairment of long-lived assets by comparing the asset’s estimated fair value with its carrying value,~~669~~ ~~compared~~based toon cash flow methodology. If the net ~~loss~~book value of $3the asset exceeds the related undiscounted cash flows,~~876~~ the ~~during~~asset is considered impaired and an impairment loss equal to an amount by which the ~~three~~carrying ~~months~~value ~~ended~~exceeds ~~May~~the fair value of the asset is recognized. As of November 30, 2020 and August 31, ~~2019~~2020, management believes there was no impairment of long-lived assets.

11Revenue recognition

~~Nine~~Pursuant to ~~Months~~the ~~Period~~guidance ~~Ended~~of ~~May~~ASC 31Topic 606, ~~2020~~revenue is recognized when control of promised goods or services is transferred to the Company’s ~~compared~~customers in an amount of consideration to ~~Nine~~which ~~Months~~the ~~period~~Company ~~ended~~expects ~~May~~to 31be entitled to in exchange for those goods or services. The Company follows the five steps approach for revenue recognition under Topic 606: (i) identify the contract(s) with a customer, (ii) ~~2019~~identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract, and (v) recognize revenue when (or as) the Company satisfies a performance obligation.

~~Revenue~~The following table presents the Company’s revenues disaggregated by revenue sources.

During the nine months ended May 31, 2020 and May 31, 2019, the Company did not generate any revenue.

	Three months ended November 30,
	2020		2019
	(unaudited)		(unaudited)
Money lending	$	-	$	-
Property agency services		-		-
Mortgage referral services		12,382		10,096

	$	12,382	$	10,096

Operating Expenses

	Three months ended November 30,
	2020		2019
	(unaudited)		(unaudited)
Revenue recognized over time	$	-	$	-
Revenue recognized at a point in time		12,382		10,096

	$	12,382	$	10,096

During the nine months period ended May 31, 2020, we incurred total expenses and professional fees of $11,519, compared to $12,709 during the nine months ended May 31, 2019. General and administrative expenses incurred generally related to legal and auditing services.9

~~Our~~TEMIR ~~net loss for the nine months period ended May 31, 2020 was $11,519 compared to net loss of $12,709 during the nine months ended May 31, 2019~~CORP.

~~LIQUIDITY~~NOTES ~~AND~~TO ~~CAPITAL~~THE ~~RESOURCES~~CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

AsFOR atTHE ~~August~~THREE 31MONTHS ~~2019 and May 31, 2020 our~~ENDED NOVEMBER ~~current assets were $0. As at August 31~~30, ~~2019 and May 31,~~ 2020, ~~our~~AND ~~total assets were $0. As at May 31, 2020, our current liabilities were $12,017 compared to $498 as at August 31,~~ 2019.

~~Stockholder’s deficit was $12,017 as of May 31, 2020 compared to $498 as of August 31, 2019.~~(Unaudited)

~~Cash~~(In ~~Flows~~U.S. ~~from~~dollars ~~Operating~~except ~~Activities~~for number of shares)

~~For the nine months period ended May 31,~~Primary ~~2020,~~sources ~~net cash flows used in operating activities were $9,519, consisting~~ of ~~net loss of $11,519, net of cash inflows from accrued liabilities of $2,000. For~~ the ~~nine~~Company’s ~~months~~revenues ~~period~~are ~~ended~~as ~~May 31, 2019, net cash flows used in operating activities were $12,208, consisting primarily of net loss of $12,709, net of amortization expenses of $501.~~follows:

~~Cash~~(a) ~~Flows~~Money ~~from Financing Activities~~ lending

~~Cash~~Interest on ~~flows~~loan ~~provided~~receivables byis ~~financing~~accrued ~~activities during~~monthly ~~the~~in ~~nine~~accordance ~~months~~with ~~period~~their ~~ended~~contractual ~~May~~terms ~~31,~~and ~~2020~~recorded ~~was~~in ~~$9,519~~accrued ~~which~~interest ~~was~~receivable. The ~~advanced~~Company bydoes anot ~~related~~charge ~~company,~~prepayment ~~Ace~~penalties. ~~Vantage Investments Limited~~Additionally, ~~compared~~ toany ~~$9,398~~previously ~~during~~accrued ~~the~~but ~~nine~~uncollected ~~months~~interest ~~period~~is ~~ended~~reversed ~~May~~and accrual ~~31,~~is ~~2019~~discontinued, ~~consisting~~when ofeither ~~loan~~(i) ~~from~~reasonable ~~shareholder.~~doubt ~~Roy~~exists ~~Chan,~~as ~~president~~to of the ~~Company~~full, istimely ~~also~~collection of interest or principal or (ii) when a ~~director~~loan ofbecomes ~~Ace~~past ~~Vantage~~due ~~Investments~~by ~~Limited~~more than 90 days.

12(b) Property agency services

~~REQUIREMENT~~The Company’s ~~FOR~~entitlement ~~ADDITIONAL~~to ~~CAPITAL~~agency fee income includes an element of consideration that is variable or contingent on the outcome of future events. Actual agency fee income to be received is dependent upon, among others, the completion of transaction between buyers and sellers, price concession based on customary industry practice and payment plans chosen by the buyers.

~~JTI~~The Company is ~~looking~~required to ~~expand~~estimate ~~its~~the ~~business~~amount in of consideration to which it will be entitled from the ~~future~~provision of property agency services. WeThe ~~intend~~estimated amount of variable consideration will be included in the transaction price only to ~~acquire~~the ~~other~~extent ~~companies.~~that Weit is ~~have~~highly ~~targeted~~probable ~~and~~taking ~~located~~into ~~some~~consideration ~~companies~~of ~~which~~the werisk ~~believe~~of ~~are~~fallen ~~suitable~~through and price concession based on customary industry practice, ~~may~~that ~~create~~a ~~synergy~~significant ~~through~~reversal ~~acquisition~~in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved.

We(c) ~~anticipate~~Mortgage ~~that~~referral additional funding, if required, will be in the form of equity financing from the sale of shares of our common stock. However, we cannot provide investors with any assurance that we will be able to raise sufficient funding from the sale of shares to fund additional expenditures. We do not currently have any arrangements in place for any future equity financing. Our limited operating history and our lack of significant tangible capital assets makes it unlikely that we will be able to obtain significant debt financing in the near future. If such financing is not available on satisfactory terms, we may be unable to continue or expand our business. Equity financing could result in additional dilution to existing shareholders.services

~~OFF-BALANCE~~Referral fee ~~SHEET~~is ~~ARRANGEMENTS~~recognized as referral services are provided to the customer.

AsThe Company records a contract asset when it has a right to payment from a customer that is conditioned on events other than the passage of time. The Company also records a contract liability when customers prepay but the ~~date~~Company ofhas ~~this~~not ~~Quarterly~~yet ~~Report,~~satisfied its performance weobligation. doFor all the periods presented, the Company did not have any ~~off-balance~~significant ~~sheet~~incremental ~~arrangements~~costs ~~that~~of ~~have~~obtaining contracts with customers incurred and/or ~~are~~costs ~~reasonably~~incurred ~~likely~~in fulfilling contracts with customers within the scope of ASC Topic 606, that shall be recognized as an asset and amortized to ~~have~~expenses in a ~~current~~pattern orthat ~~future~~matches ~~effect~~the ontiming ~~our~~of the revenue recognition of the related ~~financial~~contract. ~~condition,~~The ~~changes~~Company indid ~~financial~~not ~~condition~~have any material unsatisfied performance obligations, ~~revenues~~contract assets or ~~expenses,~~liabilities ~~results~~as of ~~operations~~November 30, ~~liquidity~~2020 and August 31, ~~capital~~2020. ~~expenditures or~~Revenue ~~capital~~is ~~resources~~recognized ~~that~~when ~~are~~the ~~material~~performance toobligation ~~investors~~is fulfilled and the payment from customers is not contingent on a future event.

~~CONTRACTUAL~~During all ~~OBLIGATIONS~~the periods presented, all of the Company’s revenues are derived in Hong Kong.

~~As of May 31, 2020, the Company has no contractual obligations involved.~~10

13TEMIR CORP.

~~ITEM~~NOTES 3.TO ~~QUANTITATIVE~~THE ~~AND~~CONDENSED ~~QUALITATIVE~~CONSOLIDATED ~~DISCLOSURES ABOUT MARKET~~FINANCIAL ~~RISK.~~STATEMENTS

AsFOR aTHE ~~“smaller reporting company” as~~THREE ~~defined~~MONTHS ~~by Item 10 of Regulation S-K~~ENDED NOVEMBER 30, ~~the~~2020 ~~Company~~AND ~~is not required to provide information required by this Item.~~2019

~~ITEM 4. CONTROLS AND PROCEDURES~~(Unaudited)

~~Evaluation~~(In ofU.S. ~~Disclosure~~dollars ~~Controls~~except ~~and~~for ~~Procedures~~number of shares)

~~Our disclosure controls and procedures~~Income are designed to ensure that information required to be disclosed in reports that we file or submit under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the Securities and Exchange Commission. Our principal executive officer and principal financial and accounting officer have reviewed the effectiveness of our “disclosure controls and procedures” (as defined in the Securities Exchange Act of 1934 Rules 13(a)-15(e) and 15(d)-15(e)) as of May 31, 2020 and have concluded that the disclosure controls and procedures were not effective to ensure that material information relating to the Company is recorded, processed, summarized, and reported in a timely manner, due to the presence of material weaknesses in internal control over financial reporting.taxes

AThe Company ~~material~~accounts ~~weakness~~for isincome ataxes ~~deficiency,~~in ~~or a~~accordance ~~combination~~with ofthe ~~deficiencies,~~accounting instandard ~~internal~~issued ~~control~~by ~~over~~the ~~financial~~Financial ~~reporting,~~Accounting ~~such~~Standard ~~that~~Board (“FASB”) ~~there~~for isincome ataxes. ~~reasonable~~Under ~~possibility~~the ~~that~~asset aand liability method as required by this accounting standard, deferred ~~material~~income ~~misstatement~~taxes ofare recognized for the ~~company’s~~tax ~~annual~~consequences orof ~~interim~~temporary differences by applying enacted statutory tax rates applicable to future years to differences between the financial ~~statements~~statement ~~will~~carrying ~~not~~amounts beand ~~prevented~~the ortax ~~detected~~bases onof aexisting ~~timely basis~~assets and liabilities. The ~~Management~~charge ~~has~~for ~~identified~~taxation is based on the ~~following~~results ~~material~~for ~~weaknesses~~the ~~which~~reporting ~~have~~period ~~caused~~as ~~management~~adjusted tofor ~~conclude~~items ~~that,~~which asare ofnon-assessable ~~May~~or ~~31,~~disallowed. ~~2020,~~It ~~our~~is ~~disclosure~~calculated ~~controls~~using ~~and~~tax ~~procedures~~rates ~~were~~that ~~not~~have ~~effective~~been ~~for~~enacted or substantively enacted by the ~~following~~balance ~~reasons:~~sheet ~~(i)~~date. ~~inadequate~~The ~~risk~~effect ~~assessment;~~on ~~and~~deferred ~~(ii)~~income ~~insufficient~~taxes ~~written~~of ~~policies~~a ~~and~~change ~~procedures~~in ~~for~~tax ~~accounting~~rates ~~and~~is ~~financial~~recognized ~~reporting~~in ~~with~~income ~~respect~~in tothe period that includes the ~~requirements~~enactment ~~and~~date. ~~application~~A valuation allowance is recognized if it is more likely than not that some portion, or all of, ~~both~~a USdeferred ~~GAAP~~tax ~~and~~asset ~~SEC~~will ~~guidelines~~not be realized.

~~Due to our small size and the early stage~~Foreign ofcurrency ~~our~~translation business, segregation of duties may not always be possible and may not be economically feasible. We have limited capital resources and have given priority in the use of those resources to our business development efforts. As a result, we have not been able to take steps to improve our internal controls over financial reporting during the quarter ended May 31, 2020. However, we will continue to evaluate the effectiveness of internal controls and procedures on an ongoing basis. Once our operations grow and become more complex, our Board of Directors will take steps to remediate these material weaknesses as funding permits as follows:

1.The Company’s ~~Create~~reporting acurrency ~~position~~is ~~to segregate duties consistent with control objectives and increase our personnel resources and technical accounting expertise within~~ the ~~accounting~~United ~~function~~States ~~when~~dollars ~~funds are available to us~~(“U.S. 2dollars”). ~~Prepare~~The ~~written policies and procedures for accounting and~~ financial ~~reporting~~records toof ~~establish~~the ~~a formal process to close our books monthly on an accrual basis~~ Company and ~~account~~its ~~for~~subsidiaries ~~all transactions, including equity and debt transactions,~~ in aHong ~~timely~~Kong ~~manner.~~are 3.maintained ~~Add staff members to our management team to make sure that information required to be disclosed~~ in ~~our~~Hong ~~reports~~Kong ~~filed~~dollars ~~and~~(“HKD”), ~~submitted~~which ~~under the Exchange Act~~ is ~~recorded, processed, summarized and reported as and when required and~~ the ~~staff~~functional ~~members~~currency ~~will have segregated responsibilities with regard to~~ of these ~~responsibilities~~entities.

~~The~~Monetary assets ~~Board~~and ofliabilities ~~directors~~denominated ~~has~~in ~~decided~~currencies toother ~~establish a~~than ~~management~~the ~~committee~~applicable (“functional currencies are translated into the ~~Committee”)~~functional currencies ~~comprised~~at the prevailing rates of 3exchange ~~independent~~at ~~board~~the ~~members~~balance sheet date. ~~The~~Nonmonetary ~~Committee~~assets ~~will~~and ~~carry~~liabilities ~~out~~are anremeasured into ~~annual~~the ~~review~~applicable functional currencies at historical exchange rates. Transactions in currencies other than the applicable functional currencies during the year are converted into the functional currencies at the applicable rates of ~~our~~exchange ~~internal~~prevailing ~~controls~~at ~~and~~the transaction ~~procedures~~dates. Transaction gains and ~~provide~~losses ~~recommendations~~are torecognized in the ~~Board,~~consolidated ifstatements ~~necessary~~of operations.

~~Changes~~Assets and liabilities are translated into the reporting currency at the rates of exchange ruling at the balance sheet date. Equity accounts are translated at historical exchange rates. Revenues, expenses, gain and loss are translated using the average rate of exchange in ~~Internal~~effect ~~Controls~~during ~~over~~the ~~Financial~~reporting period. Translation adjustments are reported and shown as a separate component of other comprehensive ~~Reporting~~income in the consolidated statements of changes in equity and the consolidated statements of comprehensive income.

~~There have been no changes in the Company’s~~During ~~internal control over financial reporting during~~ the ~~last~~periods ~~quarterly period covered by this report that have materially affected~~presented, or ~~are~~HKD ~~reasonably~~is ~~likely~~pegged to ~~materially affect,~~ the ~~Company’s~~U.S. ~~internal~~dollar ~~control~~within ~~over~~a ~~financial~~narrow ~~reporting~~range.

14Fair value of financial instruments

~~PART~~The carrying ~~II.~~value ~~OTHER~~of ~~INFORMATION~~the Company’s financial instruments (excluding non-current bank borrowings and obligation under finance lease): cash, short-term bank borrowings, other loan, balances with a director and holding company and other payables approximate their fair values because of the short-term nature of these financial instruments.

~~ITEM~~Management believes, 1.based ~~LEGAL~~on ~~PROCEEDINGS~~the current market prices or interest rates for similar debt instruments, the fair value of the Company’s non-current bank borrowings and obligation under finance lease approximates the carrying amount.

~~Management is not aware of any legal proceedings~~The ~~contemplated~~Company byalso ~~any~~follows ~~governmental~~the ~~authority~~guidance ~~or any other party involving us or our properties. As~~ of the ~~date~~ASC ofTopic ~~this Quarterly Report~~820-10, no“Fair ~~director,~~Value ~~officer~~Measurements orand ~~affiliate~~Disclosures” is (i“ASC 820-10”), with arespect ~~party adverse~~ to usfinancial inassets ~~any~~and ~~legal~~liabilities ~~proceeding,~~that orare ~~(ii)~~measured ~~has~~at anfair ~~adverse interest to us in any legal proceedings~~value. ~~Management~~ASC is820-10 ~~not~~establishes ~~aware~~a ofthree-tier ~~any~~fair ~~other~~value hierarchy ~~legal~~that ~~proceedings~~prioritizes ~~pending~~the orinputs ~~that~~used ~~have~~in ~~been~~measuring ~~threatened~~fair ~~against us~~value oras ~~our properties.~~follows:

~~ITEM~~Level ~~1A.~~1 ~~RISK~~: ~~FACTORS~~Observable inputs such as quoted prices in active markets; Level 2 : Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and Level 3 : Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions

~~As a smaller reporting company (as defined in Rule 12b-2 of the Exchange Act), we are not required to provide the information called for by this Item 1A.~~11

~~ITEM~~TEMIR 2CORP. ~~UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS~~

~~None.~~NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

~~ITEM~~FOR 3.THE ~~DEFAULTS~~THREE ~~UPON~~MONTHS ~~SENIOR~~ENDED NOVEMBER 30, ~~SECURITIES~~2020 AND 2019

~~None.~~(Unaudited)

~~ITEM~~(In 4U.S. ~~MINE~~dollars ~~SAFETY~~except ~~DISCLOSURES~~for number of shares)

~~None.~~Net (loss) profit per share

~~ITEM~~The Company 5calculates net profit (loss) per share in accordance with ASC Topic 260, “Earnings per Share.” ~~OTHER~~Basic ~~INFORMATION~~income/(loss) per share is computed by dividing the net income/(loss) by the weighted-average number of common shares outstanding during the period. Diluted income per share is computed similar to basic profit/(loss) per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common stock equivalents had been issued and if the additional common shares were dilutive. The following table presents a reconciliation of basic and diluted net profit (loss) per share:

None.

	Three months ended November 30,
	2020			2019

Net (loss) profit	$	(62,360	)	$	15,510
Weighted average number of common shares outstanding - Basic and diluted		6,692,182			6,692,182
Net (loss) profit per share - Basic and diluted	$	(0.01	)	$	0.00

~~ITEM 6. EXHIBITS~~Related parties

(Parties, which can be a) ~~Exhibits~~corporation ~~required~~or byindividual, ~~Item~~are ~~601~~considered ofto ~~Regulation~~be SKrelated if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions.: Companies are also considered to be related if they are subject to common control or common significant influence.

Number		Description
31.1		Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2		Certification of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1		Certification of Principal Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2		Certification of Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

Recent accounting pronouncements

15Recently Adopted Accounting Standards

~~SIGNATURES~~In August 2018, the FASB issued ASU 2018-13 Fair Value Measurement (Topic 820): Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement, which eliminates, adds, and modifies certain disclosure requirements for fair value measurements under ASC 820. This ASU is to be applied on a prospective basis for certain modified or new disclosure requirements, and all other amendments in the standard are to be applied on a retrospective basis. The new standard is effective for interim and annual periods beginning after December 15, 2019, with early adoption permitted. The new standard is effective for the Company on September 1, 2020 and the new standard did not have a material impact on the consolidated financial statements.

~~In accordance with the requirements of the Exchange Act, the~~Accounting ~~registrant~~Pronouncements ~~caused~~Issued ~~this~~But ~~report~~Not toYet ~~be signed on its behalf by the undersigned, thereunto duly authorized.~~Adopted

	TEMIR CORP.
Dated: July 20,2020	By:	/s/ Roy Chan
	Name:	Roy Chan
	Title:	President (principal executive officer)
	By:	/s/ Brian Chan
	Name:	Brian Chan
	Title:	Chief Financial Officer (principal accounting officer and principal financial officer)

In May 2019, the Financial Accounting Standards Board (“FASB”) issued ASU 2019-05, which is an update to ASU Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which introduced the expected credit losses methodology for the measurement of credit losses on financial assets measured at amortized cost basis, replacing the previous incurred loss methodology. The amendments in Update 2016-13 added Topic 326, Financial Instruments—Credit Losses, and made several consequential amendments to the Codification. Update 2016-13 also modified the accounting for available-for-sale debt securities, which must be individually assessed for credit losses when fair value is less than the amortized cost basis, in accordance with Subtopic 326-30, Financial Instruments— Credit Losses—Available-for-Sale Debt Securities. The amendments in this ASU address those stakeholders’ concerns by providing an option to irrevocably elect the fair value option for certain financial assets previously measured at amortized cost basis. For those entities, the targeted transition relief will increase comparability of financial statement information by providing an option to align measurement methodologies for similar financial assets. Furthermore, the targeted transition relief also may reduce the costs for some entities to comply with the amendments in Update 2016-13 while still providing financial statement users with decision-useful information. ASU 2019-05 is effective for “smaller reporting companies” for fiscal year beginning after December 15, 2022. The Company is currently evaluating the impact of this new standard on its consolidated financial statements and related disclosures.

1612

TEMIR CORP.

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED NOVEMBER 30, 2020 AND 2019

(Unaudited)

(In U.S. dollars except for number of shares)

In December 2019, the FASB issued ASU 2019-12: Simplifying the Accounting for Income Taxes (Topic 740), which removes certain exceptions to the general principles in Topic 740 and improves consistent application of and simplifies GAAP for other areas of Topic 740 by clarifying and amending existing guidance. This ASU is effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years, with early adoption permitted. The Company is evaluating the effect of adopting this new accounting guidance but does not expect adoption will have a material impact on the Company’s unaudited consolidated financial statements and related disclosures.

In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848) (“ASU 2020-04”). ASU 2020-04 contains practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. The Company continues to evaluate the impact of the guidance and may apply the elections as applicable as changes in the market occur.

In August 2020, the FASB issued ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470- 20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (“ASU 2020-06”), which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity. This ASU (1) simplifies the accounting for convertible debt instruments and convertible preferred stock by removing the existing guidance in ASC 470-20, Debt: Debt with Conversion and Other Options, that requires entities to account for beneficial conversion features and cash conversion features in equity, separately from the host convertible debt or preferred stock; (2) revises the scope exception from derivative accounting in ASC 815-40 for freestanding financial instruments and embedded features that are both indexed to the issuer’s own stock and classified in stockholders’ equity, by removing certain criteria required for equity classification; and (3) revises the guidance in ASC 260, Earnings Per Share, to require entities to calculate diluted earnings per share (EPS) for convertible instruments by using the if-converted method. In addition, entities must presume share settlement for purposes of calculating diluted EPS when an instrument may be settled in cash or shares.

For SEC filers, excluding smaller reporting companies, ASU 2020-06 is effective for fiscal years beginning after December 15, 2021 including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020. For all other entities, ASU 2020-06 is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Entities should adopt the guidance as of the beginning of the fiscal year of adoption and cannot adopt the guidance in an interim reporting period. The Company is currently evaluating the impact that ASU 2020-06 may have on its consolidated financial statements and related disclosures.

Except for the above-mentioned pronouncements, there are no new recent issued accounting standards that will have material impact on the consolidated financial position, statements of operations and cash flows.

TEMIR CORP.

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED NOVEMBER 30, 2020 AND 2019

(Unaudited)

(In U.S. dollars except for number of shares)

PREPAID EXPENSES, DEPOSITS AND OTHER CURRENT ASSETS

Prepaid expenses, deposits and other current assets were $302 as of November 30, 2020 and August 31, 2020. The balance represented utility deposits paid.

ACCOUNTS PAYABLE, OTHER PAYABLES AND ACCRUED LIABILITIES

	November 30, 2020		August 31, 2020

Accounts payable	$	6,574	$	2,371
Accrued expenses		10,747		14,202
	$	17,321	$	16,573

Accrued expenses represented payables for professional and consulting fees.

INCOME TAXES, DEFERRED TAX ASSETS

(a) Income taxes in the consolidated statements of comprehensive income (loss)

The Company’s provision for income tax expense consisted of:

	Three months ended November 30,
	2020		2019

Income tax expenses – Hong Kong	$	88	$	-
Deferred income tax benefit		-		-
Income tax expense	$	88	$	-

United States of Tax

The Company is incorporated in the State of Nevada and is subject to the U.S. federal tax and state tax. The Tax Cuts and Jobs Act of (“TCJ Act”) was signed into law in December 2017, and among its many provisions, it imposed a mandatory one-time transition tax on undistributed international earnings and reduced the U.S. corporate income tax rate to 21%, effective January 1, 2018. No provision for income taxes in the United States has been made as the Company had no taxable income for the three months ended November 30, 2020 and 2019.

Hong Kong Tax

The Company’s subsidiaries in Hong Kong and are subject to Hong Kong taxation at 16.5% on estimated assessable profit derived from their activities conducted in Hong Kong subject to a waiver of 100% of the profits tax under a cap of $2,564 (HK$20,000) for year of assessment 2019/20.

A reconciliation of the provision for income taxes determined at the statutory income tax rate to the Company’s income taxes is as follows:

	Three months ended November 30,
	2020			2019


(Loss) Profit before provision for income taxes	$	(62,272	)	$	15,510
Statutory income tax rate		21	%		21	%
Income tax (credit) expense computed at statutory income tax rate		(13,077	)		3,257
Reconciling items:
Rate differential in different tax jurisdictions		1,193			(698	)
Non-deductible expenses		11,972			-
Tax effect of tax relief		-			(1,544	)
Tax effect of utilization of tax losses		-			(1,015	)
Income tax expenses	$	88		$	-

TEMIR CORP.

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED NOVEMBER 30, 2020 AND 2019

(Unaudited)

(In U.S. dollars except for number of shares)

The net tax loss of the subsidiaries in Hong Kong of $596,370 as of November 30, 2020 and August 31, 2020, available for offset against future profits, may be carried forward indefinitely. Management believes it is more likely than not that the Company will not realize these potential tax benefits as these operations will not generate operating profits in the foreseeable future. As a result, a valuation allowance was provided against the full amount of the potential tax benefits.

(b) Deferred tax assets

	November 30, 2020			August 31, 2020

Deferred tax assets
Tax loss	$	98,401		$	98,401
Valuation allowance		(98,401	)		(98,401	)
	$	-		$	-

BALANCES WITH RELATED PARTIES


	Note	November 30, 2020		August 31, 2020

Amount due to a shareholder
Ace Vantage Investments Limited	(c)	$	230,913	$	173,796

Amount due to a related company
Century Crown Investments Limited		$	74,317	$	56,317
Other payable	(a), (c)		56,317		56,317
Rental payable	(b)		18,000		-
		$	74,317	$	56,317

(a)

Mr. Roy Kong Hoi Chan, the Company’s President, is a director of and ultimately holding 50% interest in Century Crown Investments Limited. Century Crown Investments Limited is a wholly-owned subsidiary of Ace Vantage Investments Limited.

(b)

On August 20, 2020, the Company has entered into a sub-lease agreement with Century Crown Investments Limited for office space in Hong Kong for the period of one year from September 1, 2020 at $6,000 per month. For the three months ended November 30, 2020 and 2019, the Company recorded $18,000 and nil rental expenses to Century Crown Investments Limited.

(c)

The balances with the shareholder and related company detailed above as of November 30, 2020 and August 31, 2020 are unsecured, non-interest bearing and repayable on demand.

For the three months ended November 30, 2020, the Company recorded $11,763 (HK$91,755) service fees to High Flyers Info Limited, which the Company executive director Mark Ko Chiu Yip was a director of High Flyers Info Limited for the period from May 7, 2020 to September 15, 2020.

TEMIR CORP.

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED NOVEMBER 30, 2020 AND 2019

(Unaudited)

(In U.S. dollars except for number of shares)

SEGMENT INFORMATION

The Company’s segments are business units that offer different products and services and are reviewed separately by the chief operating decision maker (the “CODM”), or the decision-making group, in deciding how to allocate resources and in assessing performance. The Company’s CODM is the Company’s Chief Executive Officer.

For the three months ended November 30, 2020

	Money lending			Property agency services		Mortgage referral services			Corporate unallocated (note)			Consolidated

Revenue	$	-		$	-	$	12,382		$	-		$	12,382
Cost of revenue		-			-		(11,763	)		-			(11,763	)
Gross profit		-			-		619			-			619
General and administrative expense		(25,853	)		-		(1,227	)		(35,811	)		(62,891	)
Loss from operations		(25,853	)		-		(608	)		(35,811	)		(62,272	)
Other income		-			-		-			-			-
Loss before income tax		(25,853	)		-		(608	)		(35,811	)		(62,272	)
Income tax		-			-		(88	)		-			(88	)
Net loss	$	(25,853	)	$	-	$	(696	)	$	(35,811	)	$	(62,360	)

Total assets
As of November 30, 2020	$	8,743		$	2,496	$	4,934		$	302		$	16,475
As of August 31, 2020	$	55		$	2,496	$	29		$	302		$	2,882

For the three months ended November 30, 2019

	Money lending			Property agency services		Mortgage referral services			Corporate unallocated (note)		Consolidated

Revenue	$	-		$	-	$	10,096		$	-	$	10,096
Cost of revenue		-			-		-			-		-
Gross profit		-			-		10,096			-		10,096
General and administrative expense		(641	)		-		(740	)		-		(1,381	)
Profit (Loss) from operations		(641	)		-		9,356			-		8,715
Other income		641			-		-			6,154		6,795
Profit before income tax		-			-		9,356			6,154		15,510
Income tax		-			-		-			-		-
Net profit	$	-		$	-	$	9,356		$	6,154	$	15,510

TEMIR CORP.

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED NOVEMBER 30, 2020 AND 2019

(Unaudited)

(In U.S. dollars except for number of shares)

COMMITMENTS AND CONTINGENCIES

Lease Commitments

The Company as lessee

The Company’s rental expense was $18,000 and nil for the three months ended November 30, 2020 and 2019, respectively.

As of November 30, 2020, the outstanding lease is short-term lease. The total minimum future lease payments are $54,000 payable in the twelve months ending November 30, 2021.

SIGNIFICANT RISKS

Credit risk

Credit risk is one of the most significant risks for the Company’s business and arise principally in lending activities.

Credit risk is controlled by the application of credit approvals, limits and monitoring procedures. The Company manages credit risk through in-house research and analysis of the economy primarily in Hong Kong and the underlying obligors and transaction structures. To minimize credit risk, the Company requires collateral in the form of rights to cash, securities or property and equipment.

The Company conducts credit evaluations of customers and generally does not require collateral or other security from its customers.

Liquidity risk

The Company is also exposed to liquidity risk which is risk that it is unable to provide sufficient capital resources and liquidity to meet its commitments and business needs. Liquidity risk is controlled by the application of financial position analysis and monitoring procedures. When necessary, the Company will turn to other financial institutions and the owners to obtain short-term funding to meet the liquidity shortage.

Concentration risk

For all the periods presented, all of the Company’s assets were located in Hong Kong.

One customer accounted for all of the Company’s income from mortgage referral services for the three months ended November 30, 2020 and 2019.

10.

SUBSEQUENT EVENTS

The Company has evaluated subsequent events from November 30, 2020 to the date the financial statements were issued and has determined that there are no items to disclose.

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION

General

We were incorporated in the State of Nevada on May 19, 2016. We commenced operations in tourism. We were a travel agency that organized individual and group tours in Kyrgyzstan, such as cultural, recreational, sport, business, ecotours and other travel tours. Services and products provided by our company included custom packages according to the client’s specifications. We developed and offered our own tours in Kyrgyzstan as well as third-party suppliers.

On January 15, 2020, our principal office relocated to Suite 1802-03, 18/F, Strand 50, 50 Bonham Strand, Sheung Wan, Hong Kong. Our management is planning to restructure our business from a travel agency to a Fintech Company with major business focusing on financials services and using the internet, mobile devices, software technology or cloud services to perform or connected with financial services.

Reverse Acquisition of JTI

On April 2, 2020, the Company entered into a Sale and Purchase Agreement, by and among the Company, JTI Financial Services Group Limited (“JTI”), a Hong Kong corporation, and Ace Vantage Investments Limited (equally held by Mr. Roy Kong Hoi Chan (an executive director and president of the Company, “Mr. Roy Chan”) and his father) as vendor (the “Vendor”).

Under the terms and conditions of the Agreement (and supplemented by the Amendment, the Second Amendment and the Third Amendment), the Company offered, sold and issued 4,118,182 shares of common stock in consideration for all the issued and outstanding shares in JTI. The effect of the issuance is that the Vendor now hold approximately 61.54% of the issued and outstanding shares of common stock of the Company.

Mr. Roy Chan, the founder of JTI, and Chairman of the board of directors is the holder of 629,350 shares of common stock of the Company prior to the Transaction. The Company’s officers and directors, Mr. Roy Chan, Mr. Mark Yip and Mr. Brian Wong therefore, control an aggregate of 4,993,412 or 74.62% of the outstanding common stock of the Company, on a fully diluted basis, after the Transaction.

As a result of the agreement, JTI is now a wholly-owned subsidiary of the Company.

The transaction with JTI was treated as a reverse acquisition, with JTI as the acquirer and the Company as the acquired party. As a result of the controlling financial interest of the former stockholders of JTI, for financial statement reporting purposes, the merger between the Company and JTI was treated as a reverse acquisition, with JTI deemed the accounting acquirer and the Company deemed the accounting acquiree under the acquisition method of accounting in accordance with the Section 805-10-55 of the FASB Accounting Standards Codification. The reverse acquisition is deemed a capital transaction in substance whereas the assets and liabilities of JTI (the accounting acquirer) are carried forward to the Company (the legal acquirer and the reporting entity) at their carrying value before the combination and the equity structure (the number and type of equity interests issued) of JTI is being retroactively restated using the exchange ratio established in the Share Purchase Agreement to reflect the number of shares of the Company issued to effect the acquisition. The number of common shares issued and outstanding and the amount recognized as issued equity interests in the consolidated financial statements is determined by adding the number of common shares deemed issued and the issued equity interests of JTI immediately prior to the business combination to the unredeemed shares and the fair value of the Company determined in accordance with the guidance in ASC Section 805-40-55 applicable to business combinations, i.e. the equity structure (the number and type of equity interests issued) in the consolidated financial statements immediately post combination reflects the equity structure of the Company, including the equity interests the legal acquirer issued to effect the combination.

JTI has four wholly owned operating subsidiaries, namely, JTI Finance Limited, Concept We Mortgage Broker Limited, JTI Property Agency Limited and JTI Asset Management Limited. The principal activities of JTI are provision of diversified financial services through its wholly owned subsidiaries incorporated in Hong Kong.

JF is a licensed money lender in Hong Kong, holding a money lender license no. 1403/2020 granted by the licensing court of Hong Kong. JF offers various types of loans including but not limited to personal loan, business loan, credit card consolidation loan and equity pledge loan to its customers in Hong Kong.

CW is one of the active mortgage brokers in Hong Kong. Its revenue is mainly derived from the referral fee from the banks and financial institutions for the mortgage referral.

JP is a licensed property agent in Hong Kong, holding an estate agent’s license granted by Estate Agents Authority of Hong Kong. Its revenue is mainly derived from the commission provided by the landlord for facilitating the sales or lease of commercial properties.

JA is a consultancy services company. After the completion of the Agreement, JA is planning to apply for fund management licenses in Hong Kong or in other jurisdiction, aiming to provide fund management services globally.

Impact of COVID-19

The spread of the coronavirus (“COVID-19”) around the world has caused significant business disruption in year 2020. In March 2020, the World Health Organization declared the outbreak of COVID-19 as a global pandemic, which continues to spread around the world. There is significant uncertainty around the breadth and duration of business disruptions related to COVID-19, as well as its impact on the Hong Kong’s and global economy. While it is difficult to estimate the financial impact of COVID-19 on the Company’s operations, management believes that COVID-19 could have a material impact on its financial results in year 2021.

RESULTS OF OPERATION

The accompanying interim condensed financial statements have been prepared using the going concern basis of accounting, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business.

As of November 30, 2020, we have suffered recurring losses from operations, and record an accumulated deficit and a working capital deficit of $757,847 and $306,565, respectively. These conditions raise substantial doubt about our ability to continue as a going concern. The continuation of our company as a going concern is dependent upon improving our profitability and the continuing financial support from our shareholders or other debt or capital sources. Management believes the existing shareholders or external financing will provide the additional cash to meet our obligations as they become due.

No assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to us. Even if we are able to obtain additional financing, if needed, it may contain undue restrictions on our operations, in the case of debt financing, or cause substantial dilution for our stock holders, in the case of equity financing.

In March 2020, the World Health Organization declared the outbreak of COVID-19 as a global pandemic, which continues to spread around the world. There is significant uncertainty around the breadth and duration of business disruptions related to COVID-19, as well as its impact on the Hong Kong’s and global economy. While it is difficult to estimate the financial impact of COVID-19 on our operations, management believes that COVID-19 could have a material impact on our financial results at this time.

Our interim condensed consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets and liabilities that may result in our company not being able to continue as a going concern.

Results of operations

The following table sets forth key components of our results of operations for the three months ended November 30, 2020 and 2019:

	Three months ended November 30
	2020			2019

REVENUE	$	12,382		$	10,096

Cost of revenue		(11,763	)		-

GROSS PROFIT		619			10,096

General and administrative expenses		(62,891	)		(1,381	)

(LOSS) PROFIT FROM OPERATIONS		(62,272	)		8,715

Other Income		-			6,795

(Loss) Profit before income tax		(62,272	)		15,510
Income tax expense		(88	)		-

NET (LOSS) PROFIT	$	(62,360	)	$	15,510

Revenue and cost of revenue

During the three months ended November 30, 2020, the Company generated revenue of $12,382 compared to $10,096 for the three months ended November 30, 2019. Cost of revenue was $11,763 for the three months ended November 30, 2020 compared to nil for the three months ended November 30, 2019.

General and administrative expenses

During the three months period ended November 30, 2020, we incurred $62,891 general and administrative expenses compared to $1,381 during the three months ended November 30, 2019. General and administrative expenses incurred generally related to corporate overhead, financial and administrative contracted services, such as legal and accounting and developmental costs. We incurred more expenses after the reverse acquisition of JTI, which was completed on July 6, 2020.

Net profit (loss)

As a result of the cumulative effect of the factors described above, our net loss for the three months period ended November 30, 2020 was $62,360 compared to net profit of $15,510 during the three months ended November 30, 2019.

LIQUIDITY AND CAPITAL RESOURCES

Working Capital

	November 30, 2020		August 31, 2020
Cash and cash equivalents	$	15,712	$	2,580
Total current assets		16,475		2,882
Total assets		16,475		2,882
Total liabilities		323,021		247,068
Accumulated deficit		757,828		695,468
Total deficit	$	306,546	$	244,186

The following table provides detailed information about our net cash flow for all financial statement periods presented in this report:

	Three months ended November 30,
	2020			2019

Net cash (used in) provided by operating activities	$	(43,985	)	$	13,697
Net cash from investing activities		-			-
Net cash provided by (used in) financing activities		57,117			(22,934	)

Net increase (decrease) in cash and cash equivalents		13,132			(9,237	)
Cash and cash equivalents, beginning of period		2,580			10,252
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	15,712		$	1,015

Cash Flows from Operating Activities

For the three months period ended November 30, 2020, net cash flows used in operating activities were $43,985, primarily resulted from the net loss of $62,360 partially offset by $18,000 rental payable to a related company. For the three months period ended November 30, 2019, net cash flows provided by operating activities were $13,697, consisting primarily of net profit of $15,510, and a decrease of other current assets of $8,205, partially offset by a decrease of accrued liabilities of $7,564 and an increase of accounts receivable of $3,029.

Cash Flows from Financing Activities

Cash flows provided by financing activities during the three months period ended November 30, 2020 was $57,117, consisting of $300,583 advances from a shareholder and $243,466 repayment to a shareholder. Cash flows used in financing activities during the three months period ended November 30, 2019 was $22,934, consisting of $6,971 advances from a shareholder and $29,905 repayment to a shareholder.

REQUIREMENT FOR ADDITIONAL CAPITAL

We are looking to expand our business in the future. We intend to acquire other companies. We have targeted and located some companies which we believe are suitable and may create synergy through acquisition.

We anticipate that additional funding, if required, will be in the form of equity financing from the sale of shares of our common stock. However, we cannot provide investors with any assurance that we will be able to raise sufficient funding from the sale of shares to fund additional expenditures. We do not currently have any arrangements in place for any future equity financing. Our limited operating history and our lack of significant tangible capital assets makes it unlikely that we will be able to obtain significant debt financing in the near future. If such financing is not available on satisfactory terms, we may be unable to continue or expand our business. Equity financing could result in additional dilution to existing shareholders.

OFF-BALANCE SHEET ARRANGEMENTS

As of the date of this Quarterly Report, we do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.

CONTRACTUAL OBLIGATIONS

We had the following contractual obligations and commercial commitments as of November 30, 2020:

	Payment Due by Period
	Total		Less than 1 Year		1-3 Years		3-5 Years		More than 5 Years
Amount due to a shareholder	$	230,913	$	230,913	$	-	$	-	$	-
Amount due to a related company		74,317		74,317		-		-		-
Lease		54,000		54,000		-		-		-
Total	$	359,230	$	359,230	$	-	$	-	$	-

We believe that our current cash and financing from our existing stockholders are adequate to support operations for at least the next 12 months. We may, however, in the future, require additional cash resources due to changed business conditions, implementation of our strategy to expand our business or other investments or acquisitions we may decide to pursue. If our own financial resources are insufficient to satisfy our capital requirements, we may seek to sell additional equity or debt securities or obtain additional credit facilities. The sale of additional equity securities could result in dilution to our stockholders. The incurrence of indebtedness would result in increased debt service obligations and could require us to agree to operating and financial covenants that would restrict our operations. Financing may not be available in amounts or on terms acceptable to us, if at all. Any failure by us to raise additional funds on terms favorable to us, or at all, could limit our ability to expand our business operations and could harm our overall business prospects.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

As a “smaller reporting company” as defined by Item 10 of Regulation S-K, the Company is not required to provide information required by this Item.

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

As required by Rule 13a-15 under the Exchange Act, our management has carried out an evaluation, with the participation and under the supervision of our principal executive officer and principal financial and accounting officer, of the effectiveness of the design and operation of our disclosure controls and procedures as of November 30, 2020. Disclosure controls and procedures refer to controls and other procedures designed to ensure that information required to be disclosed in the reports we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the SEC and that such information 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. In designing and evaluating our disclosure controls and procedures, management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives, and management is required to apply its judgment in evaluating and implementing possible controls and procedures.

Management conducted its evaluation of disclosure controls and procedures under the supervision of our principal executive officer and principal financial and accounting officer. Based upon, and as of the date of this evaluation, our principal executive officer and principal financial and accounting officer have concluded that our disclosure controls and procedures were not effective as of November 30, 2020 due to the following material weaknesses in our internal control over financial reporting.

We do not have an Audit Committee – While not being legally obligated to have an audit committee, it is the management’s view that such a committee, including a financial expert member, is of the utmost importance for entity-level control over the Company’s financial statement. Currently, the Board of Directors acts in the capacity of the Audit Committee.

We do not have adequate written policies and procedures – Due to lack of adequate written policies and procedures for accounting and financial reporting, we did not establish a formal process to close our books monthly and account for all transactions in a timely manner.

We did not implement appropriate information technology controls – As of November 30, 2020, the Company was retaining copies of all financial data and material agreements; however there is no formal procedure or evidence of normal backup of the Company’s data or off-site storage of the data in the event of theft, misplacement, or loss due to unmitigated factors.

We do not have sufficient and skilled accounting personnel with an appropriate level of technical accounting knowledge and experience in the application of accounting principles generally accepted in the United States commensurate with our financial reporting requirements.

A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company’s annual or interim financial statements will not be prevented or detected on a timely basis.

We plan to take steps to remediate these material weaknesses as soon as practicable by implementing a plan to improve our internal control over financial reporting including, but not limited to:

	1.	Create a position to segregate duties consistent with control objectives and increase our personnel resources and technical accounting expertise within the accounting function when funds are available to us.

	2.	Prepare written policies and procedures for accounting and financial reporting to establish a formal process to close our books monthly on an accrual basis and account for all transactions, including equity and debt transactions, in a timely manner.

	3.	Add staff members to our management team to make sure that information required to be disclosed in our reports filed and submitted under the Exchange Act is recorded, processed, summarized and reported as and when required and the staff members will have segregated responsibilities with regard to these responsibilities.

Changes in Internal Controls over Financial Reporting

Except for the matters described above, there have been no changes in the Company’s internal control over financial reporting during the last quarterly period covered by this report that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

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 or our properties.

ITEM 1A. RISK FACTORS

As a smaller reporting company (as defined in Rule 12b-2 of the Exchange Act), we are not required to provide the information called for by this Item 1A.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. MINE SAFETY DISCLOSURES

None.

ITEM 5. OTHER INFORMATION

None.

ITEM 6. EXHIBITS

(a)	Exhibits required by Item 601 of Regulation SK.:

Number		Description
31.1		Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2		Certification of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1		Certification of Principal Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2		Certification of Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	TEMIR CORP.

Dated: January 19, 2021	By:	/s/ Roy Chan
	Name:	Roy Chan
	Title:	President (principal executive officer)

	By:	/s/ Brian Chan
	Name:	Brian Chan
	Title:	Chief Financial Officer (principal accounting officer and principal financial officer)

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