UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

[X]	QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended ~~September~~March 3031, ~~2019~~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. 000-56033

SYNDICATED RESORTS ASSOCIATION, INC.
(Exact name of registrant as specified in its charter)

Nevada		47-5018835
(State or other jurisdiction of		(I.R.S. Employer
incorporation or organization)		Identification No.)

5530 South Valley View Blvd, Suite 105

Las Vegas, Nevada 89118

(Address of principal executive offices) (zip code)

480-666-4116
(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days). Yes [X] No [ ]

Yes [X] 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 [X] 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 filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer [ ] Accelerated filer [ ] Non-accelerated filer [ X ] Smaller Reporting Company [ X ] Emerging growth company [ X ]

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 [X]

Yes [ ] No [X]

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		N/A		N/A

As of ~~November~~May 1421, ~~2019~~2020, the Company had 7,990,000 shares of its common stock, par value $.0001 per share, issued and outstanding.

~~SYNDICATED~~UNITED ~~RESORTS~~CAPITAL ~~ASSOCIATION~~CONSULTANTS INC. ~~TABLE OF CONTENTS~~

		Page
PART I. FINANCIAL INFORMATION
Item 1.	Financial Statements
	Unaudited Balance Sheets, September 30, 2019 and December 31, 2018	3
	Unaudited Statement of Operations for the Three and Nine Months Ended September 30, 2019 and 2018	4
	Unaudited Statements of Changes in Stockholders’ Equity for the Three and Nine Months Ended September 30, 2019 and 2018	5
	Unaudited Statement of Cash Flows for the Nine Months Ended September 30, 2019 and 2018	6
	Notes to Unaudited Financial Statements	7
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	10
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	13
Item 4.	Controls and Procedures	13
PART II. OTHER INFORMATION
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	14
Item 5.	Other Information	14
Item 6.	Exhibits	14

TABLE OF CONTENTS

		Page

PART I. FINANCIAL INFORMATION

Item 1.	Financial Statements
	Unaudited Balance Sheets, March 31, 2020 and December 31, 2019	3
	Unaudited Statement of Operations for the Three Months Ended March 31, 2020 and 2019	4
	Unaudited Statements of Changes in Stockholders’ Equity for the Three Months Ended March 31, 2020 and 2019	5
	Unaudited Statement of Cash Flows for the Three Months Ended March 31, 2020 and 2019	6
	Notes to Unaudited Financial Statements	7
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	10
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	13
Item 4.	Controls and Procedures	13

PART II. OTHER INFORMATION		13

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	13
Item 5.	Other Information	13
Item 6.	Exhibits	14

SYNDICATED RESORTS ASSOCIATION, INC.

(a Nevada Corporation)

UNAUDITED BALANCE SHEETS

	September 30, 2019			December 31, 2018
	March 31,			December 31,
	2020			2019
ASSETS
Current Assets
Cash	$	31,~~300~~023		$	1,~~797~~669
Total Current Assets		3,300			1,797
Prepaid Expense		5,000			0
Total Assets	$	36,~~300~~023		$	1,~~797~~669
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Liabilities
Accounts Payable	$	23,~~843~~198		$	31,~~374~~258
Credit Card Payable		1312,205			91,~~946~~931
Total Current Liabilities		2,856			13,320
Accrued Expenses		0			1,800
Total Liabilities		215,~~856~~403			134,~~320~~989
Commitments and Contingencies (Note 8)
Stockholders’ Equity (Deficit)
Preferred Stock - Par Value $0.0001, 20,000,000 Shares Authorized, 0 Issued and Outstanding		0			0
Preferred Stock - Par Value $0.0001, 20,000,000 Shares Authorized, Issued and Outstanding		0			0
Common Stock - Par Value $0.0001, 100,000,000 Shares Authorized, 7,990,000 Issued and Outstanding		799			799
Additional Paid in Capital		~~176~~197,563			~~130~~181,~~953~~563
Retained Deficit		(~~176~~207,~~918~~742	)		(~~143~~185,~~275~~682	)
Total Stockholder’s Equity (Deficit)		~~444~~(9,380	)		(113,~~523~~320	)
Total Liabilities and Stockholders’ Equity (Deficit)	$	36,~~300~~023		$	1,~~797~~669

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

SYNDICATED RESORTS ASSOCIATION, INC.

(a Nevada Corporation)

UNAUDITED STATEMENTS OF OPERATIONS

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	For the Three Months Ended March 31,
	2019			2018			2019			2018
	2020			2019
Operating Expenses
Advertising	$	(900	)	$	416		$	0		$	633
General and Administrative	$	3,884		$	5,318
General and Administrative		1,190			1,827			7,137			8,013
Legal and Professional		18,140			20,985
Legal and Professional		1,640			8,948			24,447			36,759
Total Operating Expenses		22,024			26,303
Outside Services		0			0			0			8,970
Loss from Operations		(22,024	)		(26,303	)
Total Operating Expenses		1,930			11,191			31,584			54,375
Other Income (Expense)
Loss from Operations		(1,930	)		(11,191	)		(31,584	)		(54,375	)
Other Expense		(36	)		(657	)
Other Income (Expense)
Total Other Income (Expense)		(36	)		(657	)
Other Income		0			0			0			1,535
Loss from Operations before Income Taxes		(22,060	)		(26,960	)
Other Expense		(488	)		(523	)		(2,059	)		(1,095	)
Provision for Income Taxes		0			0
Total Other Income (Expense)		(488	)		(523	)		(2,059	)		440
Net Loss	$	(22,060	)	$	(26,960	)
Loss from Operations before Income Taxes		(2,418	)		(11,714	)		(33,643	)		(53,935	)
Weighted Average Number of Common Shares -
Provision for Income Taxes		0			0			0			0
Basic and Diluted		7,990,000			7,990,000
Net Loss	$	(2,418	)	$	(11,714	)	$	(33,643	)	$	(53,935	)
Net Loss per Common Shares -
Weighted Average Number of Common Shares -
Basic and Diluted	$	(0.00	)	$	(0.00	)
Basic and Diluted		7,990,000			7,906,087			7,990,000			7,718,897
Net Loss per Common Shares -
Basic and Diluted	$	(0.00	)	$	(0.0	)	$	(0.00	)	$	(0.01	)

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

SYNDICATED RESORTS ASSOCIATION, INC.

(a Nevada Corporation)

UNAUDITED STATEMENT OF STOCKHOLDERS’ EQUITY (DEFICIT)

For the Three ~~and Nine~~ Months Ended ~~September~~March 3031, 2020 and 2019

	Common				Additional		Retained
	Stock		Common		Paid-in		Earnings
	Shares		Stock		Capital		(Deficit)			Total
Balance January 1, 2020		7,990,000	$	799	$	181,563	$	(185,682	)	$	(3,320	)
Capital Contributions						16,000					16,000
Net Loss for the Three Months Ended March 31, 2020								(22,060	)		(22,060	)
Balance March 31, 2020		7,990,000	$	799	$	197,563	$	(207,742	)	$	(9,380	)
Balance January 1, 2019		7,990,000	$	799	$	130,953	$	(143,275	)	$	(11,523	)
Capital Contributions						810					810
Net Loss for the Three Months Ended March 31, 2019								(26,960	)		(26,960	)
Balance March 31, 2019		7,990,000	$	799	$	131,763	$	(170,235	)	$	(37,673	)
Capital Contributions						10,900					10,900
Net Loss for the Three Months Ended June 30, 2019								(4,265	)		(4,265	)
Balance June 30, 2019		7,990,000	$	799	$	142,663	$	(174,500	)	$	(31,038	)
Capital Contributions						33,900					33,900
Net Loss for the Three Months Ended September 30, 2019								(2,418	)		(2,418	)
Balance September 30, 2019		7,990,000	$	799	$	176,563	$	(176,918	)	$	444

	Common				Additional					Retained
	Stock		Common		Paid-in		Subscriptions			Earnings
	Shares		Stock		Capital		Receivable			(Deficit)			Total
Balance January 1, 2018		7,630,000	$	763	$	97,989	$	(3,000	)	$	(81,416	)	$	14,336
Cash received for subscription receivable								1,000						1,000
Net Loss for the Three Months Ended March 31, 2018											(17,468	)		(17,468	)
Balance March 31, 2018		7,630,000	$	763	$	97,989	$	(2,000	)	$	(98,884	)	$	(2,132	)
Cash received for subscription receivable								2,000						2,000
Common Stock Issued		80,000		8		3,992								4,000
Capital Contributions						10,000								10,000
Net Loss for the Three Months Ended June 30, 2018											(24,753	)		(24,753	)
Balance June 30, 2018		7,710,000	$	771	$	111,981	$	0		$	(123,637	)	$	(10,885	)
Cash received for subscription receivable
Common Stock Issued		280,000		28		13,972								14,000
Capital Contributions														0
Net Loss for the Three Months Ended September 30, 2018											(11,714	)		(11,714	)
Balance September 30, 2018		7,990,000	$	799	$	125,953	$	0		$	(135,351	)	$	(8,599	)

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

SYNDICATED RESORTS ASSOCIATION, INC.

(a Nevada Corporation)

UNAUDITED STATEMENTS OF CASH FLOWS

For the ~~Nine~~Three Months Ended ~~September~~March 3031,

	2019			2018
	2020			2019
Cash Flows from Operating Activities
Net Loss	$	(3322,~~643~~060	)	$	(5326,~~935~~960	)
Adjustments to Reconcile Net Loss to
Net Cash Used by Operating Activities:
Change in Operating Assets and Liabilities
Increase (Decrease) in Accounts Payable		(531	)		4,120
Increase in Prepaid Expenses		(5,000	)		0
Increase (Decrease) in Credit Card Payable		(9,933	)		1,000
Increase in Accounts Payable		1,940			16,686
Net Cash Used by Operating Activities		(44,107	)		(48,815	)
Increase in Credit Card Payable		10,274			9,298
Decrease in Accrued Expenses		(1,800	)		0
Net Cash Used by Operating Activities		(16,646	)		(976	)
Cash Flows from Financing Activities
Common Stock Issued for Cash		0			18,000
Contributed Capital		16,000			810
Contributed Capital		45,610			3,000
Net Decrease in Cash		(646	)		(166	)
Subscriptions Receivable		0			10,000
Cash Balance - Beginning of Period		1,669			1,797
Net Cash Provided by Financing Activities		45,610			31,000
Cash Balance - End of Period	$	1,023		$	1,631
Net Increase (Decrease) in Cash		1,503			(17,815	)
Cash Balance - Beginning of Period		1,797			20,038
Cash Balance - End of Period	$	3,300		$	2,223

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

SYNDICATED RESORTS ASSOCIATION, INC.

(a Nevada Corporation)

~~September~~March 3031, ~~2019~~2020 and ~~2018~~2019 and December 31, ~~2018~~2019

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Business – Syndicated Resorts Association, Inc. (the “Company”), is a corporation which organized originally as Royale Associates, LLC - a Nevada single member LLC, which began operations in 2015. The Company is a marketing and sales entity working within the vacation industry. The Company is designed to optimize relationships between resort destinations and potential vacationers. The Company markets to prospective clients through accredited distributors and customer support centers located throughout the United States.

Basis of Presentation – The accompanying unaudited interim financial statements have been prepared in accordance with the same accounting policies as the Company’s last annual financial statements. They do not include all the information required for a complete set of financial statements, however selected explanatory notes are included to explain events and transactions that are significant to the Company’s financial position and performance since the last annual financial statements.

The Company’s policies conform to accounting principles generally accepted in the United States of America as contained in the Accounting Standards Codification (ASC) issued by the Financial Accounting Standards Board (FASB) and have been consistently applied.

Method of Accounting – The Company uses the accrual method of accounting, in accordance with accounting principles generally accepted in the United States of America. The accounting policies have been applied consistently for purposes of preparation of these interim financial statements.

Recent Accounting Pronouncements – FASB has issued a new standard for accounting for leases under ASC 842, which is required to be adopted as of January 1, 2019. Since the Company currently has no leases, this new standard currently does not apply to the Company. There were no other new accounting pronouncements that impact the reporting for the Company as of ~~September~~March 3031, ~~2019~~2020 and ~~2018~~2019, respectively.

Use of Estimates – The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Cash and Cash Equivalents - For purpose of the statements of cash flow, cash and cash equivalents include all cash balances and highly liquid investments with a maturity of three months or less.

SYNDICATED RESORTS ASSOCIATION, INC.

(a Nevada Corporation)

~~September~~March 3031, ~~2019~~2020 and ~~2018~~2019 and December 31, ~~2018~~2019

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Income Taxes – The accounting guidance for uncertainties in income tax prescribes a comprehensive model for the financial statement recognition, measurement, presentation, and disclosure of uncertain tax positions taken, or expected to be taken in income tax returns. The Company recognizes a tax benefit from an uncertain tax position in the financial statements only when it is more likely than not that the position will be sustained upon examination. The Company has examined its tax positions and concluded that there are no unrecognized tax benefits that will have a material impact on the financial statements for the ~~nine~~quarters ~~months~~ ended ~~September~~March 3031, ~~2019~~2020 and ~~2018~~2019.

The Company’s tax returns are subject to possible examination by the taxing authorities. For federal income tax purposes the tax returns essentially remain open to possible examination for a period of three years after the respective filing deadlines of those returns.

NOTE 2 – CASH AND CASH EQUIVALENTS

As of ~~September~~March 3031, ~~2019~~2020 and December 31, ~~2018~~2019, the cash balances were below the FDIC insured limits, and there were no restrictions on cash. The cash balances were $31,~~300~~023 and $1,~~797~~669 as of ~~September~~March 3031, ~~2019~~2020 and December 31, ~~2018~~2019, respectively.

NOTE 3 – ~~CREDIT~~PREPAID ~~CARD PAYABLE~~EXPENSE

The ~~credit~~Company ~~card~~has ~~payable~~entered ~~represents~~into ~~the~~an ~~balances~~agreement ~~accrued~~to onrepurchase ~~company~~stock ~~credit~~(see ~~cards~~Note 8). AsThe ofagreement ~~September~~has ~~30,~~not ~~2019~~been ~~and~~executed ~~December~~as of March 31, ~~2018, the~~2020. ~~accrued~~The balance ~~totaled~~of $135,000 ~~and~~in $9prepaid expense as of March 31,~~946,~~ ~~respectively~~2020 represents an advance payment made toward this agreement.

NOTE 4 – ~~STOCKHOLDERS’~~CREDIT ~~EQUITY~~CARD PAYABLE

~~During~~The credit ~~the~~card ~~nine~~payable ~~months~~represents ~~ended September~~the ~~30,~~balances ~~2019~~accrued ~~and~~on ~~2018,~~company ~~capital~~credit ~~contributions~~cards. As of ~~$45,610~~March ~~and $10~~31,~~000~~ ~~were made by the major shareholder~~2020, ~~respectively.~~and ~~During the~~December ~~year ended September 30~~31, ~~2018~~2019, the accrued ~~Company~~balance ~~received~~totaled $312,~~000~~205 ~~for~~and ~~prior subscriptions receivable. During the year ended September 30~~$1, ~~2018~~931, ~~the Company issued 360,000 shares of common stock~~respectively.

~~Preferred~~NOTE ~~Stock~~5 – ~~The~~STOCKHOLDERS’ ~~Company has authorized 20,000,000 shares of $.0001 par value preferred stock. As of September 30, 2019 and 2018, there were 0 shares issued and outstanding.~~EQUITY

~~Common~~During ~~Stock~~the –three ~~The~~months ~~Company~~ended ~~has~~March ~~authorized 100~~31,~~000,000~~ ~~shares~~2020 ofand ~~$.0001~~2019, ~~par~~capital ~~value~~contributions ~~common stock. As~~ of ~~September 30~~$16,000 ~~2019~~ and ~~2018~~ ~~there~~$810 were ~~7,990,000~~made ~~shares~~by ~~issued~~the ~~and~~major ~~outstanding~~shareholder, respectively.

Preferred Stock – The Company has authorized 20,000,000 shares of $.0001 par value preferred stock. As of March 31, 2020, and 2019, there were 0 shares issued and outstanding.

Common Stock – The Company has authorized 100,000,000 shares of $.0001 par value common stock. As of March 31, 2020 and 2019 there were 7,990,000 shares issued and outstanding, respectively.

SYNDICATED RESORTS ASSOCIATION, INC.

(a Nevada Corporation)

~~September~~March 3031, ~~2019~~2020 and ~~2018~~2019 and December 31, ~~2018~~2019

NOTE 56 – EARNINGS (LOSS) PER COMMON SHARE – BASIC AND DILUTED

Earnings (Loss) per share of common stock are computed in accordance with FASB ASC 260.

Basic - Basic earnings per share is calculated by dividing the net profit (loss) for the year by the weighted average number of ordinary shares outstanding during the financial year held by the Company.

Diluted – For the purpose of calculating diluted earnings per share, the profit attributable to equity holders of the Company and the weighted average number of ordinary shares outstanding during the financial year have been adjusted for the dilutive effects of all potential ordinary shares, warrants, and share options granted. The dilutive earnings per share is calculated by dividing the profit attributable to equity holders of the Company by the weighted average number of shares that would have been in issue upon full exercise of the remaining warrants, adjusted by the number of such shares that would have been issued at fair value.

NOTE 6 – OTHER INCOME AND EXPENSE

In 2018, the Company received income as part of a marketing project, which would pay a fee for each qualified person who responded. As part of the project the Company sold tickets to certain events. The income associated with these activities totaled $1,535 and the costs associated with these activities totaled $1,095 for the nine months ended September 30, 2018. This revenue is not the primary business of the Company; therefore, the activities have been recorded in Other Income. There was no income or expense from these activities for the nine months ended September 30, 2019.

NOTE 7 – GOING CONCERN

The financial statements have been prepared assuming that the Company will continue as a going concern. As shown in the accompanying unaudited financial statements for the ~~nine~~quarters ~~months~~ ending ~~September~~March 3031, ~~2019~~2020 and ~~2018~~2019, the Company has had significant operating losses, raising substantial doubt about its ability to continue as a going concern.

During the year ending December 31, ~~2018~~2019, the Company sold stock and raised capital to move forward with its business plan. They continue to move forward with this plan during the ~~nine~~quarter ~~months~~ ending ~~September~~March 3031, ~~2019~~2020. The Company is still in its beginning stages, and has not had the opportunity to fully develop the operations it expects to have. With the additional capital raised, the Company ~~expects~~ expects to continue to work towards sales under its business plan. While the Company anticipates success in this venture, there is no assurance that this will occur.

As a result, there continues to be substantial doubt about the Company’s ability to continue as a going concern within one year after issuance of the financial statements.

NOTE 8 – COMMITMENTS AND CONTINGENCIES

The Company did not have any leases, pending litigation, or other commitments and contingencies at ~~September~~March 3031, ~~2019~~2020 and ~~2018~~2019, respectively.

During 2019, the Company entered into a stock repurchase agreement, which calls for the cancellation of 333,333 shares of stock, and the repurchase of 666,667 shares of stock. The agreement had not been executed as of March 31, 2020, but payment of $5,000 toward the repurchase of stock was made in January 2020 (see note 3).

NOTE 9 – SUBSEQUENT EVENTS

~~Management~~The ~~reviewed~~date ~~the~~to ~~Company’s~~which ~~operations~~events ~~subsequent~~occurring toafter ~~September~~March 3031, ~~2019~~2020, the date of the most recent balance sheet, ~~and~~have ~~has~~been ~~determined the~~evaluated ~~Company~~for ~~does~~possible adjustment ~~not have additional adjustments~~ to the financial statements or additional disclosures as of ~~November~~May 1120, ~~2019~~2020, which is the date on which the financial statements were available to be issued.

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

The following discussion should be read in conjunction with our unaudited financial statements and notes to our financial statements included elsewhere in this report. This discussion contains forward-looking statements that involve risks and uncertainties. Actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors discussed elsewhere in this report.

Certain information included herein contains statements that may be considered forward-looking statements, such as statements relating to our anticipated revenues, gross margin and operating results, future performance and operations, plans for future expansion, capital spending, sources of liquidity, and financing sources. This forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, and accordingly, such results may differ from those expressed in any forward-looking statements made herein. These risks and uncertainties include those relating to our liquidity requirements, the continued growth of the Company’s industry, the success of our business development, marketing and sales activities, vigorous competition in the Company’s industry, dependence on existing management, leverage and debt service (including sensitivity to fluctuations in interest rates), domestic or global economic conditions, the inherent uncertainty and costs of prolonged arbitration or litigation, and changes in federal or state tax laws or the administration of such laws.

Overview

Syndicated Resorts Association, Inc., then known as Royale Associates LLC (“SRA” or the “Company”), was incorporated in Nevada on August 1, 2014 as a Nevada limited liability company.

On October 26, 2017, the Company filed Articles of Conversion with the Nevada Secretary of State pursuant to which the Company changed its name to Syndicated Resorts Association, Inc. and was converted into a Nevada corporation (the “Conversion”).

The Company currently offers tickets to shows located in Las Vegas to travelers through its website, Showplusdinner.com. The Company’s website is designed to function as a digital concierge whereby customers can purchase discounted tickets for shows on the Las Vegas Strip, with the goal of expanding the Company’s offerings to include dinner and hotel offerings and to partner with venues worldwide in the future. As an authorized vendor of Caesars Enterprise Services, LLC (“Caesars”), the Company’s product offerings have included tickets to attend shows at Caesars affiliated properties featuring world-renowned performers. The Company intends to expand its product offerings to enable customers to purchase discounted hotel and travel packages within a network of member properties, hotel resorts, and recreational facilities with whom the Company expects to establish partnerships.

AsEffective as of ~~September~~February 3028, ~~2019~~2020, the Company, ~~had~~lxtapa ~~not~~Palace ~~generated~~Resort ~~significant~~SA de CV, ~~recurring~~a ~~revenues~~company ~~and~~based ~~had~~in ~~not~~Mexico ~~shown~~that operates as an affiliate of Interval International Inc. representing a ~~history~~Vacation Exchange Network of ~~positive~~3,200 ~~income~~globally located affiliate resorts (“IPR”) orand ~~cash~~SynchroTec ~~flows~~2 ~~from~~LLC, ~~operations~~a ~~since~~company ~~inception.~~based ~~For~~in ~~the~~Florida ~~nine~~that ~~months~~provides ~~ended~~certain ~~September~~technology ~~30,~~and ~~2019~~operational services (“Sync”), entered into a Retail and Travel Services Agreement (the ~~Company~~“Agreement”) ~~had~~pursuant ~~sustained~~to awhich ~~net~~(1) ~~loss~~SRA, at its cost and expense, will establish a network of ~~$33,643~~independent and company-owned dealerships, atto ~~September~~be ~~30,~~known ~~2019~~as the “IPR Vacation Club,” ~~had~~for sales aof ~~retained~~travel ~~deficit~~offerings provided by IPR and its affiliates and (2) Sync will provide related technology and administrative services. The initial term of ~~$176,918~~the Agreement shall continue for one (5) year term (the “Initial Term”) unless otherwise terminated earlier under the terms hereof. ~~However,~~Unless written notice of termination is delivered to the ~~Company~~other ~~has~~party ~~entered~~at ~~into~~least ~~agreements~~sixty ~~with~~(60) days ~~several~~before ~~customers~~the end of the Initial Term, then this Agreement shall be automatically extended for an additional one (5) year term unless otherwise terminated earlier. The consideration to ~~provide~~be ~~management~~paid ~~consulting~~to SRA, IPR and Sync in exchange for the services rendered and products offered under the Agreement shall be determined in ~~furtherance~~the ofordinary ~~its~~course ~~business~~of ~~model~~business.

~~For~~As ~~the~~of ~~period~~March ~~ended December~~ 31, ~~2018~~2020, the Company’s ~~independent~~had ~~auditors~~not ~~issued~~generated asignificant, ~~report~~recurring ~~raising~~revenues ~~substantial~~and ~~doubt~~had ~~about~~not ~~the Company’s~~shown ~~ability~~a tohistory ~~continue~~of aspositive aincome or ~~going~~cash ~~concern~~flows from operations since inception. ~~The~~At ~~continuation~~March of31, 2020, the Company ashad sustained a ~~going~~net ~~concern~~loss isof ~~dependent~~$22,060 ~~upon~~and ~~financial support~~had ~~from~~a ~~its~~retained deficit ~~principal~~of ~~stockholders~~$207,742. ~~its~~However, ~~ability~~the toCompany ~~obtain~~has ~~necessary~~entered ~~equity~~into ~~financing,~~agreements orto ~~its~~resell ~~ability~~travel toservices, ~~sell~~lodgings ~~its~~and ~~services~~other amenities toin ~~generate~~furtherance ~~consistent~~of ~~profitability~~its business model.

For the period ended December 31, 2019, the Company’s independent auditors issued a report raising substantial doubt about the Company’s ability to continue as a going concern. The continuation of the Company as a going concern is dependent upon financial support from its principal stockholders, its ability to obtain necessary equity financing, or its ability to sell its services to generate consistent profitability.

The Company has filed a registration statement on Form S-1 to register the resales of common stock shares held by certain existing shareholders of the Company. The registration statement was declared effective by the Securities and Exchange Commission on February 12, 2019.

Revenues and Losses

During the ~~nine~~three months ended ~~September~~March 3031, ~~2019~~2020, the Company posted nonet revenues of $0, total operating expenses of $3122,~~584~~024, consisting of general and administrative expenses of $73,~~137~~884 and costs for legal and professional services of $2418,~~447~~140, and a net loss of $3322,~~643~~024. In ~~contrast~~In comparison, during the ~~nine~~three months ended ~~September~~March 3031, ~~2018~~2019, the Company posted nonet revenues of $0, total operating expenses of $5426,~~375~~303, consisting of ~~advertising expenses of $633,~~ general and administrative expenses of $85,~~013,~~318 and costs for legal and professional ~~services~~ ~~of $36,759 and expenses for outside~~ services of $820,~~970~~985, and a net loss of $5326,~~935~~303.

Liquidity and Capital Resources

The Company had a cash balance of $31,~~300~~023 as of ~~September~~March 3031, ~~2019~~2020.

Since its inception, the Company has devoted most of its efforts to business planning, research and development, recruiting management and staff and raising capital. Accordingly, the Company was considered to be in the development stage until it recently began formal operations. The Company generated no revenues since its inception and there is no assurance of future revenues.

The Company’s proposed activities will necessitate significant uses of capital beyond ~~2019~~2020.

For the next few months, the Company will be focusing on engaging new partners to expand its travel and entertainment offerings, obtaining increased visibility for its platforms through the implementation of its marketing strategy and by improving its website and continuing to develop ~~its~~strategic ~~technological~~relationships ~~platforms~~to sell travel products.

Currently, these efforts are being funded by the management of the Company and through the proceeds of the Company’s private placements. Management of the Company believes that having a trading market for the Company’s common stock will make other sources of financing available and assist it in becoming more marketable.

There is no assurance that the Company’s activities will generate sufficient revenues to sustain its operations without additional capital, or if additional capital is needed, that such funds, if available, will be obtainable on terms satisfactory to the Company. Accordingly, given the Company’s limited cash and cash equivalents on hand, the Company will be unable to implement its business plans and proposed operations unless it obtains additional financing or otherwise is able to generate revenues and profits. The Company may raise additional capital through sales of debt or equity, obtain loan financing or develop and consummate other alternative financial plans. In the near term, the Company plans to rely on its primary stockholder to continue his commitment to funding the Company’s continuing operating requirements. Management anticipates a total capital raise between $5-10M USD over the course of the following four consecutive quarters; provided, however, that the Company will require a minimum of of $100,000 for the next 12 months to fund its operations, which will be used to fund expenses related to operations, office supplies, travel, salaries and other incidental expenses. Management believes that this capital would allow the Company to meet its operating cash requirements, and would facilitate the Company’s business of selling and distributing its products. Management also believes that the acquisition of such assets would generate revenue to cover the overhead cost and general liabilities of the Company, and allow the Company to achieve overall sustainable profitability.

Discussion of the Three Months ended ~~September~~March 3031, ~~2019~~2020 as compared to the Three Months ended ~~September~~March 3031, ~~2018~~2019

The Company generated no revenues during the three months ended ~~September~~March 3031, ~~2019~~2020 and ~~2018~~2019, respectively. The Company has focused ~~its~~ its efforts on business development, and devoted little attention or resources to sales and marketing or generating near-term ~~revenues~~ revenues and profits other than engaging in strategic partnerships to further its business model.

During the three months ended September 30, 2019, the Company posted total operating expenses of $1,930, consisting of general and administrative expenses of $1,190 and costs for legal and professional services of $1,640 (offset by a rescission of advertising expenses of $900 that was originally presented as an expense in the last quarter, but has been disputed by the Company since it did not place the referenced advertising), as compared to operating expenses of $11,191, consisting of advertising expenses of $416, general and administrative expenses of $1,827 and costs for legal and professional services of $8,948 for the three months ended September 30, 2018. These decreases in operating costs largely resulted decreases in legal and accounting fees related to becoming a public company.

During the three months ended September 30, 2019, the Company posted a net loss of $2,418 as compared to net loss of $11,714 for the three months ended September 30, 2018. The decrease in net loss resulted from decreases in operating expenses related to becoming a public company.

Discussion of the Nine Months ended September 30, 2019 as compared to the Nine Months ended September 30, 2018

The Company generated no revenues during the nine months ended September 30, 2019 and 2018, respectively. The Company has focused its efforts on business development, and devoted little attention or resources to sales and marketing or generating near-term revenues and profits.

During the nine months ended September 30, 2019, the Company posted total operating expenses of $31,584, consisting of general and administrative expenses of $7,137 and costs for legal and professional services of $24,447, as compared to total operating expenses of $54,375, consisting of advertising expenses of $633, general and administrative expenses of $8,013, costs for legal and professional services of $36,759 and expenses for outside services of $8,970 for the nine months ended September 30, 2018. These decreases in operating costs largely resulted from decreases in legal and accounting fees related to becoming a public company.

During the nine months ended September 30, 2019, the Company posted a net loss of $33,643 as compared to net loss of $53,935 for the nine months ended September 30, 2018. The decrease in net loss resulted from decreases in operating expenses related to becoming a public company.

For the nine months ended September 30, 2019, the Company used cash in operating activities of $44,107. During such period, the Company also generated cash in financing activities in the amount of $45,610 and did not use or generate cash from investing activities. In comparison, for the nine months ended September 30, 2018, the Company used cash in operating activities of $48,815. During such period, the Company did not use or generate cash in investing activities and generated cash from financing activities in the amount of $31,000.

~~The~~During the three months ended March 31, 2020, the Company ~~had~~posted atotal ~~cash~~operating ~~balance~~expenses of total operating expenses of $322,~~300~~024, consisting of general and administrative expenses of $23,~~223~~884 asand costs for legal and professional services of ~~September~~$18,140. 30In comparison, during the three months ended March 31, 2019, the Company posted total operating expenses of $26,303, consisting of general and ~~2018~~administrative expenses of $5,318 ~~respectively~~and costs for legal and professional services of $20,985. These decreases in operating costs largely resulted from reduced legal and accounting fees related to being a public company and reduced expenses in connection with the development of operations.

During the three months ended March 31, 2020, the Company posted a net loss of $22,024 as compared to net loss of $26,303 for the three months ended March 31, 2019. The decrease in net loss largely resulted from reduced legal and accounting fees related to being a public company and reduced expenses in connection with the development of operations.

For the three months ended March 31, 2020, the Company used cash in operating activities of $16,646. During such period, the Company also generated cash in financing activities in the amount of $16,000 from capital contributions from management and did not use or generate cash from investing activities. In comparison, for the three months ended March 31, 2019, the Company used cash in operating activities of $976. During such period, the Company did not use or generate cash in investing activities and generated cash from financing activities in the amount of $810 from capital contributions from management.

The Company had a cash balance of $1,023 and $1,631 as of March 31, 2020 and 2019, respectively.

Off-Balance Sheet Arrangements

The Company has no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on its financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources.

Equipment Financing

The Company has no existing equipment financing arrangements.

Potential Revenue

The Company expects to generate revenue from selling its travel products and services. The Company currently offers tickets to shows located in Las Vegas to travelers through its website, Showplusdinner.com. The Company plans to develop its platforms further to expand its product offerings to include discounted hotel and travel packages within a network of member properties, hotel resorts, timeshare, and recreational facilities with whom the Company expects to establish partnerships. The Company has already partnered with Caesars Enterprises LLC, Discount Network to act as an authorized reseller of their entertainment and travel products. ~~The~~Furthermore, the Company ishas ~~currently~~entered ininto ~~negotiations~~agreement with ~~resorts~~lxtapa ~~that~~Palace ~~are a member of the~~ Resort ~~Condominium~~SA ~~International~~de ~~network~~CV to become an authorized reseller of travel products in order to expand its product offerings further.

Alternative Financial Planning

The Company has no alternative financial plans at the moment. If the Company is not able to successfully raise monies as needed through a private placement or other securities offering (including, but not limited to, a primary public offering of securities), the Company’s ability to survive as a going concern and implement any part of its business plan or strategy will be severely jeopardized.

Critical Accounting Policies

The financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States. The preparation of these financial statements requires making estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. The estimates are based on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis of making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.

Basis of Presentation – The accompanying unaudited interim financial statements have been prepared in accordance with the same accounting policies as the Company’s last annual financial statements. They do not include all the information required for a complete set of financial statements, however selected explanatory notes are included to explain events and transactions that are significant to the Company’s financial position and performance since the last annual financial statements.

Method of Accounting – The Company uses the accrual method of accounting, in accordance with accounting principles generally accepted in the United States of America. The accounting policies have been applied consistently for purposes of preparation of these interim financial statements.

Use of Estimates – The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Cash and Cash Equivalents - For purpose of the statements of cash flow, cash and cash equivalents include all cash balances and highly liquid investments with a maturity of three months or less.

ITEM 3. Quantitative and Qualitative Disclosures About Market Risk.

Information not required to be filed by a smaller reporting company.

ITEM 4. Controls and Procedures.

Disclosure Controls and Procedures

Pursuant to Rules adopted by the Securities and Exchange Commission, the Company carried out an evaluation of the effectiveness of the design and operation of its disclosure controls and procedures pursuant to Exchange Act Rules. This evaluation was done as of the end of the period covered by this report by the Company’s principal executive officer (who is also the principal financial officer) in consultation with an outside accounting advisor.

Based upon that evaluation, the Company’s principal executive officer has concluded that the Company’s disclosure controls and procedures were not effective in gathering, analyzing and disclosing information needed to ensure that the information required to be disclosed by the Company in its periodic reports is recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Act is accumulated and communicated to the issuer’s management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

The Company intends to engage outside accounting advisors to assist the Company in implementing effective disclosure controls and procedures.

Changes in Internal Controls

There was no change in the Company’s internal control over financial reporting that was identified in connection with such evaluation that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

PART II — OTHER INFORMATION

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

There are no sales of unregistered securities to report that have not been previously included in the Company’s past Quarterly Reports on Form 10-Q.

ITEM 5. OTHER INFORMATION

No Changes in Nomination Procedures

During the quarter covered by this Report, there were not any material changes to the procedures by which security holders may recommend nominees to the Board of Directors.

ITEM 6. EXHIBITS

Exhibit No.		Description
2.1		Agreement and Plan of Conversion between Royale Associates LLC and Syndicated Resorts Association, Inc. (filed as an Exhibit to the Form S-1 filed on December 28, 2017)
3.1		Articles of Incorporation (filed as an Exhibit to the Form S-1 filed on December 28, 2017)
3.2		By-laws (filed as an Exhibit to the Form S-1 filed on December 28, 2017)
3.3		Sample stock certificate (filed as an Exhibit to the Form S-1 filed on December 28, 2017)
3.4		Articles of Conversion filed with the Secretary of State of Nevada on October 26, 2017 (filed as an Exhibit to the Form S-1 filed on December 28, 2017)
10.1		Letter of Intent by and between Royale Associates LLC and Ixtapa Palace Resort (filed as an Exhibit to the Form S-1 filed on December 28, 2017)
10.2		Agreement by and between William Barber and Tiber Creek Corporation (filed as an Exhibit to the Form S-1 filed on December 28, 2017)
10.3		Prepay Voucher Agreement by and between the Company and Caesars’ Entertainment LLC (filed as an Exhibit to the Form S-1 filed on May 3, 2018)
10.4		Market Affiliation Agreement by and between the Company, Discount Network and Impact Services (filed as an Exhibit to the Form S-1 filed on May 3, 2018)
10.5		Sub-ISO Agency/Portfolio Management Agreement by and between the Company and 2C Processor USA LLC (filed as an Exhibit to the Form S-1 filed on May 3, 2018)
10.6		Travel Products Purchase Agreement by and between the Company and FASTRACK Promotions, Inc. (filed as an Exhibit to the Form S-1 filed on May 3, 2018)
10.7		Form of Travel Agency Agreement by and between the Company and ~~Ixtapa~~lxtapa Palace Resort, SA de CV (filed as an Exhibit to the Form S-1 filed on July 11, 2018)
10.8		Form of ~~Letter~~Retail ofand ~~Intent~~Travel Services Agreement by and between the Company, lxtapa Palace Resort, SA de CV and ~~Infinite~~SynchroTec ~~Travel~~2 LLC (filed as an Exhibit to the Form 8-K filed on ~~August~~March 146, ~~2019~~2020)
31*		Rule 15d-14(a) Certification by Principal Executive Officer and Principal Financial Officer
32*		Section 1350 Certification of Principal Executive Officer and Principal Financial Officer
101.1NS*		XBRL Instance Document
101.SCH*		XBRL Taxonomy Extension Schema Document
101.CAL*		XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF*		XBRL Taxonomy Extension Definitions Linkbase Document
101.LAB*		XBRL Taxonomy Extension Label Linkbase Document
101.PRE*		XBRL Taxonomy Extension Presentation Linkbase Document

*	Filed herewith

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, on ~~November~~May 1920, ~~2019~~2020.

	SYNDICATED RESORTS ASSOCIATION, INC.

	By:	/s/ William Barber
	Title:	President (Principal Executive Officer)

	By:	/s/ William Barber
	Title:	Chief Financial Officer (Principal Financial Officer)

	By:	/s/ William Barber
	Title:	Chief Financial Officer (Principal Accounting Officer)

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, on ~~November~~May 1920, ~~2019~~2020.

	By:	/s/ William Barber
	Title:	Chief Executive Officer (Principal Executive Officer)

	By:	/s/ William Barber
	Title:	Treasurer (Principal Financial Officer)

	By:	/s/ William Barber
	Title:	Treasurer (Principal Accounting Officer)

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed below by the following persons, constituting all of the members of the board of directors, in the capacities and on the dates indicated.

Signature	Capacity	Date
/s/ William Barber	Director	~~November~~May 1920, ~~2019~~2020
William Barber

William Barber

Filing Compare · Syndicated Resorts Association,Inc.