SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

For the Quarterly period ended September 30, 2020

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Commission File No. 333-230996

KENLOC, INC.

(Exact Name of Small Business Issuer as specified in its charter)

Nevada	82-4678102
(State or other jurisdiction	(IRS Employer File Number)
of incorporation)


1100 Town and Country Road, Suite 1250, Orange, California	92868
(Address of principal executive offices)	(zip code)

(657) 235-5016

(Registrant's telephone number, including area code)

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	None	None

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

N/A

(Title of class)

Indicate by check mark whether the registrant: (1) 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, 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. (Check one)

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 check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act) Yes ☒ No ☐

As of November 11, 2020, registrant had outstanding 48,432,300 shares of the registrant's common stock at a par value of $0.0001 per share.

FORM 10-Q

KENLOC, INC.

TABLE OF CONTENTS

PART I. FINANCIAL INFORMATION	3

Item 1. Unaudited Condensed Financial Statements	3

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations	4

Item 3. Quantitative and Qualitative Disclosures About Market Risk	9

Item 4. Controls and Procedures	9

PART II. OTHER INFORMATION	11

Item 1. Legal Proceedings	11

Item 1A. Risk Factors	11

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	11

Item 3. Defaults Upon Senior Securities	11

Item 4. Mine Safety Disclosures	11

Item 5. Other Information	11

Item 6. Exhibits	12

SIGNATURES	13

PART I. FINANCIAL INFORMATION

References in this document to "us," "we," or "Company" refer to Kenloc, Inc.

ITEM 1. FINANCIAL STATEMENTS

Kenloc, Inc.

Unaudited Financial Statements

For the Six Months Ended September 30, 2020

INDEX TO UNAUDITED FINANCIAL STATEMENTS

Content		Page
Condensed Balance Sheets as of September 30, 2020 and March 31, 2020		F-1

Condensed Statements of Operations and Comprehensive Loss for the three and six months ended September 30, 2020 and 2019		F-2

Condensed Statements of Changes in Shareholders’ Deficit for the three and six months ended September 30, 2020 and 2019		F-3

Condensed Statements of Cash Flows for the six months ended September 30, 2020 and 2019		F-4

Notes to Unaudited Financial Statements		F-5

Kenloc, Inc.

Condensed Balance Sheets

(Unaudited)

	As of			As of
	September 30,			March 31,
	2020			2020
ASSETS
Current Assets
Cash	$	31,720		$	90,454
Total Current Assets		31,720			90,454

TOTAL ASSETS	$	31,720		$	90,454

LIABILITIES AND SHAREHOLDERS' DEFICIT
Current Liabilities
Accounts payable and accrued liabilities	$	15,747		$	3,986
Accrued management fees		27,000			15,000
Due to related parties		102,000			102,000
Total Current Liabilities		144,747			120,986

Total Liabilities		144,747			120,986

Shareholders' Deficit
Preferred stock: 40,000,000 shares authorized; $0.0001 par value no shares issued and outstanding		–			–
Common stock: 160,000,000 shares authorized; $0.0001 par value 48,432,300 and 48,432,300 shares issued and outstanding, respectively		4,843			4,843
Additional paid in capital		181,089			181,089
Accumulated deficit		(298,959	)		(216,464	)
Total Shareholders' Deficit		(113,027	)		(30,532	)

TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT	$	31,720		$	90,454

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

F-1

Kenloc, Inc.

Condensed Statements of Operations

(Unaudited)

	Three Months Ended						Six Months Ended
	September 30,						September 30,
	2020			2019			2020			2019
Operating Expenses:
General and administrative	$	13,555		$	4,165		$	27,450		$	10,215
Professional fees		23,519			9,863			55,045			10,864
Total operating expenses		37,074			14,028			82,495			21,079

Operating Loss		(37,074	)		(14,028	)		(82,495	)		(21,079	)

Other expense
Interest expense		–			(417	)		–			(830	)
Total other expenses		–			(417	)		–			(830	)

Net loss before income taxes		(37,074	)		(14,445	)		(82,495	)		(21,909	)
Provision for income taxes		–			–			–			–
Net Loss	$	(37,074	)	$	(14,445	)	$	(82,495	)	$	(21,909	)

Basic and Diluted Loss per Common Share	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	(0.00	)
Basic and Diluted Weighted Average Common Shares Outstanding		48,432,300			48,371,250			48,432,300			48,370,625

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

F-2

Kenloc, Inc.

Condensed Statements of Changes in Shareholders’ Deficit

(Unaudited)

For the Three and Six Months Ended September 30, 2020

					Additional
	Common Stock				Paid in		Accumulated
	Shares		Amount		Capital		Deficit			Total
Balance - March 31, 2020		48,432,300	$	4,843	$	181,089	$	(216,464	)	$	(30,532	)
Net Loss		–		–		–		(45,421	)		(45,421	)
Balance - June 30, 2020		48,432,300		4,843		181,089		(261,885	)		(75,953	)
Net Loss		–		–		–		(37,074	)		(37,074	)
Balance - September 30, 2020		48,432,300	$	4,843	$	181,089	$	(298,959	)	$	(113,027	)

For the Three and Six Months Ended September 30, 2019

					Additional
	Common Stock				Paid in		Accumulated
	Shares		Amount		Capital		Deficit			Total
Balance - March 31, 2019		48,370,000	$	4,837	$	23,463	$	(136,053	)	$	(107,753	)
Net Loss		–		–		–		(7,464	)		(7,464	)
Balance - June 30, 2019		48,370,000		4,837		23,463		(143,517	)		(115,217	)
Issuance of common shares		2,300		–		862		–			862
Net Loss		–		–		–		(14,445	)		(14,445	)
Balance - September 30, 2019		48,372,300	$	4,837	$	24,325	$	(157,962	)	$	(128,800	)

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

F-3

Kenloc, Inc.

Condensed Statements of Cash Flows

(Unaudited)

	Six Months Ended
	September 30,
	2020			2019

CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$	(82,495	)	$	(21,909	)
Adjustments to reconcile net loss to net cash used in operating activities:
Changes in current assets and liabilities:
Accounts payable and accrued liabilities		11,761			913
Accrued management fees		12,000			(6,000	)
Due to related parties		–			4,000
Accrued interest, related party		–			830
Net cash used in operating activities		(58,734	)		(22,166	)

CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of common stock		–			862
Net cash provided by Financing Activities		–			862

Net change in cash for period		(58,734	)		(21,304	)
Cash at beginning of period		90,454			70,118
Cash at end of period	$	31,720		$	48,814

SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for income taxes	$	–		$	–
Cash paid for interest	$	–		$	–

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

F-4

Kenloc, Inc.

Notes to Financial Statements

September 30, 2020

(Unaudited)

NOTE 1- ORGANIZATION AND DESCRIPTION OF BUSINESS

Description of Business

Kenloc, Inc. (the “Company”) is a for profit corporation established under the corporation laws in the state of Nevada, United States of America on February 12, 2018. Unless the context otherwise requires, all references to “Kenloc, Inc.,” “we,” “us,” “our” or the “company” are to Kenloc, Inc.

We intend to be a full-service real estate company, including providing consulting and advisory services to Chinese investors interested in real estate investments. We intend to assist our clients in finding properties in the state of California and evaluating them for purchase. Providing strategic advisory, transaction due diligence, and property management services to international and domestic investors. Our services are focused on the research and analysis of real estate properties, advising clients on the best use of their real estate assets, and on managing their properties.

To date, the Company’s activities have been limited to developing initial business contacts and services in the real estate industry. Current President and Chief Executive Officer, Fei Hao, also serves as the President and Chief Executive Officer of another real estate company and aims to utilize her contacts in the industry to expand the Company’s activities.

COVID-19

A novel strain of coronavirus (COVID-19) was first identified in December 2019, and subsequently declared a global pandemic by the World Health Organization on March 11, 2020. As a result of the outbreak, many companies have experienced disruptions in their operations and in markets served. The Company has instituted some and may take additional temporary precautionary measures intended to help ensure the well-being of its managers and minimize business disruption. The Company considered the impact of COVID-19 on the assumptions and estimates used and determined that there were no material adverse impacts on the Company’s results of operations and financial position as of September 30, 2020 except that the Company has . The full extent of the future impacts of COVID-19 on the Company’s operations is uncertain. A prolonged outbreak could have a material adverse impact on financial results and business operations of the Company, including the timing and ability of the Company to develop its business plan.

Going Concern

The accompanying unaudited condensed financial statements and notes have been prepared assuming that the Company will continue as a going concern. As of September 30, 2020, the Company had an accumulated deficit of $298,959. The Company’s ability to continue as a going concern is dependent upon the Company’s ability to generate sufficient revenues to operate profitably or raise additional capital through debt financing and/or through sales of common stock.

The Company’s ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. There is no assurance that this series of events will be satisfactorily completed.

F-5

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial statements and with the instructions to Form 10-Q and Regulation S-X of the United States Securities and Exchange Commission (“SEC”). Accordingly, they do not contain all information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements.

In the opinion of the Company’s management, the accompanying unaudited interim financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as of September 30, 2020 and the results of operations and cash flows for the periods presented. The results of operations for the six months ended September 30, 2020 are not necessarily indicative of the operating results for the full fiscal year or any future period. These unaudited financial statements should be read in conjunction with the financial statements and related notes thereto included in the company’s Annual Report on Form 10-K for the year ended March 31, 2020 filed with the SEC on June 26, 2020.

Use of Estimates and Assumptions

The preparation of financial statements in conformity with generally accepted accounting principles 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 period. Actual results could differ from those estimates.

Due to the limited level of operations, the Company has not had to make material assumptions or estimates other than the assumption that the Company is a going concern.

Cash

The Company had $31,720 and $90,454 in cash as of September 30, 2020 and March 31, 2020, respectively.

Recently Issued Accounting Pronouncements

Management has considered all recent accounting pronouncements issued. The Company’s management believes that these recent pronouncements will not have a material effect on the Company’s financial statements.

F-6

NOTE 3 - RELATED PARTY TRANSACTIONS

Due to Related Parties

As of March 31, 2019, there was $100,000 due to Lucas Yu Wu, who was the Company’s majority shareholder, officer and director, respectively until his resignation on January 15, 2020. In addition to the $100,000 owed to Mr. Wu, Mr. Wu also made payments on behalf of the Company for $4,000 to service providers for services received by the Company. During the year ended March 31, 2020, Mr. Wu forgave both the $100,000 and $4,000 owed to him. Subsequent to the forgiveness of the $100,000 and $4,000, but prior to March 31, 2020, Mr. Wu made an additional advance to the Company of $19,000 of which the Company repaid him $10,000; accordingly. As of September 30, 2020, and March 31, 2020, there was net balance owed to Mr. Wu of $9,000. The advances bear no interest, were due on demand, and were not secured by the Company’s assets.

As of September 30, 2020, and March 31, 2020, there were advances of $93,000 owing to our majority shareholder, officer, and director, respectively. The advances bear no interest, were due on demand, and were not secured by the Company’s assets.

Notes Payable

On April 10, 2018 and June 1, 2018, the Company issued to Mr. Wu, two promissory notes of $30,000 totaling to $60,000, respectively. Unpaid balances are due within 30 days after demand and have an annual interest rate of 2.67%. As of March 31, 2020, $30,000 note and interest of $2,000 were repaid to the holder and $30,000 note and $570 of accrued interest was forgiven by Mr. Wu.

Notes payable and accrued interest as of September 30, 2020 and March 31, 2020, were $0. For the six months ended September 30, 2020 and September 30, 2019, interest expense was $0 and $830, respectively.

Management fees

During the six months ended September 30, 2020, the Company recorded $24,000 in management fees to officers of the Company. As of September 30, 2020, and March 31, 2020, there were accrued management fees of $27,000 and $15,000 owing to our officers and former directors, respectively.

NOTE 4 – SUBSEQUENT EVENTS

Management evaluated all events subsequent to the balance sheet date through the date these financial statements were available to be issued.

F-7

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

FORWARD-LOOKING STATEMENTS

This quarterly report contains forward-looking statements. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.

Our unaudited financial statements are prepared in accordance with United States Generally Accepted Accounting Principles (“GAAP”). The following discussion should be read in conjunction with our financial statements and the related notes that appear elsewhere in this quarterly report. The following discussion contains forward-looking statements that reflect our plans, estimates, and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed below and elsewhere in this quarterly report.

In this quarterly report, unless otherwise specified, all dollar amounts are expressed in United States dollars and all references to “common shares” refer to the common shares in our capital stock.

As used in this quarterly report, the terms “we,” “us,” “our,” and “our company” mean Kenloc, Inc., unless otherwise indicated.

Overview

Kenloc, Inc. (the “Company”) is a for profit corporation established in the State of Nevada, on February 12, 2018.

Our principal executive offices are located at 1100 Town and Country Road, Suite 1250, Orange, CA 92868. Our telephone number is 657-235-5016. Our corporate website is www.kenloc.net.

The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. The financial statements and related disclosures as of March 31, 2020 and 2019 are audited pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”). We will update information in the management discussion and analysis to the extent required by law.

We have never declared bankruptcy, been in receivership, or involved in any kind of legal proceeding.

We do not have any subsidiaries.

Our Current Business

We were formed to provide consulting and advisory services to Chinese investors interested in real estate investments in the state of California. We intend to assist our clients in finding properties and evaluating them for purchase. Our services include providing strategic advisory, transaction due diligence, and property management services to international and domestic investors. We are not a real estate brokerage firm and do not engage in real estate brokerage activities. Our company currently has no plans to change its business activities or to combine with another business, and we are not aware of any event or circumstance that might cause our company’s plans to change. Our company currently has no revenue or operations and will rely on the sale of our securities and loans from our officers and directors to fund our initial operations. Our company is not a blank check registrant as that term is defined in Rule 419(a)(2) of Regulation C of the Securities Act of 1933 because it has a specific business plan or purpose.

Our services are focused on the research and analysis of real estate properties; advising clients on the best use of their real estate assets, and on managing their properties. We have no operating history upon which an evaluation of our prospects and us can be based. Our Company has had minimal operations and limited financial resources. The risks, expense, and difficulties encountered by early-stage companies must be considered when evaluating our prospects. Over the next twelve months, we plan to operate our business as set forth in this section.

Our mission is to assist investors in the early stage analysis of market opportunities and the evaluation of properties prior to them committing capital for the purchase of a real estate investment property. We expect to initially focus our marketing efforts in California, where vast amounts of real estate properties were destroyed during the 2017 Tubbs Fire¹ and other fires.

Due to the coronavirus pandemic, our assessment has been that our Chinese investor contacts have been more reluctant to pursue real estate investments in the United States. This may be due to the impact the pandemic has had on the availability and liquidity of investment capital, along with the perception of uncertainty surrounding the United States with respect to the impact of the pandemic and also the political and economic policies of the United States as they affect Chinese investors and businesses.

The aforementioned impact of the pandemic and the discussed uncertainties are affecting our business and our prospects which could have a material adverse impact on the financial results and business operations of the Company.

Our Business Model

We are real estate advisory and consulting services company that assists international, mainly Chinese, real estate investors, with advisory and consulting services focused on providing real estate research, analysis, and acquisition opportunities to them. After our clients’ have decided to purchase a real estate investment property we will offer them our property management services.

________________________

¹ The Tubbs Fire was the most destructive wildfire in California history, burning parts of Napa, Sonoma, and Lake counties in Northern California during October 2017.

Our advisory and consulting services include, but are not limited to the following:

	·	Analysis of current trends and transactions.

	·	Consulting on structure and financing, including corporate formation services.

	·	Investment analysis of properties.

	·	Formulating operating strategies for the properties.

	·	Assisting in financial modeling.

These services are designed to assist our clients based internationally in developing an investment strategy and making buy-sell-hold decisions. We fully integrate our research with our client dialogue, client relationship development and maintenance, and transaction execution. We intend to coordinate our advisory services with both sales and financing professionals; to provide customized analysis and increase customer loyalty and long-term transaction volume.

In addition, and to complete the advisory and consulting services we provide to international real estate investors, we intend to provide leasing, property management, development, redevelopment, acquisition and other tenant-related services for a portfolio of internationally owned offices, residential, retail and mixed-use properties.

Through our advisory and consulting services we analyze the best real estate investment for our clients. Through our property management services, we identify the best use for such investment, maximizing their return on investment.

Our property management services include, but are not limited to the following:

	·	Evaluation and determination of an accurate rental rate.

	·	Tenant screening and selection.

	·	Property inspections, sending our clients periodic reports on the state of their property.

	·	Rent collection and other financial services, such as accounting property management services, making insurance, and mortgage payments, etc.

	·	Maintenance, repairs, and remodels.

Results of Operations

The following discussion and analysis should be read in conjunction with our company’s unaudited financial statements for the six months ended September 30, 2020 and 2019 and accompanying notes appended thereto that are included in this quarterly report.

Three months Ended September 30, 2020 and 2019

We have not earned revenues since inception of the company on February 12, 2018. Our operating results for the three months ended September 30, 2020 and 2019, are as follows:

	Three Months Ended
	September 30,				Increase
	2020		2019		(Decrease)
Revenue	$	–	$	–	$	–
Operating expenses	$	37,074	$	14,028	$	23,046
Other expense	$	–	$	417	$	(417	)
Net loss	$	37,074	$	14,445	$	22,629

Operating Expenses

For the three months ended September 30, 2020, operating expenses were $23,519 for professional fees, $12,000 to officers of the Company for a management fees and $1,555 for office expenses.

For the three months ended September 30, 2019, operating expenses were $9,863 for professional fees, $4,000 to officers of the Company for a management fees and $165 for office expenses.

Other Expenses

For the three months ended September 30, 2020 and 2019, other expenses were $0 and $417 for interest on loans from a related party, respectively.

Six months Ended September 30, 2020 and 2019

We have not earned revenues since inception of the company on February 12, 2018. Our operating results for the six months ended September 30, 2020 and 2019, are as follows:

	Six Months Ended
	September 30,				Increase
	2020		2019		(Decrease)
Revenue	$	–	$	–	$	–
Operating expenses	$	82,495	$	21,079	$	61,416
Other expense	$	–	$	830	$	(830	)
Net loss	$	82,495	$	21,909	$	60,586

Operating Expenses

For the six months ended September 30, 2020, operating expenses were $55,045 for professional fees, $24,000 to officers of the Company for a management fees and $3,450 for office expenses

For the six months ended September 30, 2019, operating expenses were $10,864 for professional fees, $10,000 to officers of the Company for a management fees and $215 for office expenses.

Other Expenses

For the six months ended September 30, 2020 and 2019, other expenses were $0 and $830 for interest on loans from a related party, respectively.

Liquidity and Capital Resources

The following table provides selected financial data about our company as of September 30, 2020 and March 31,2020, respectively.

Working Capital

	September 30,			March 31,			Increase
	2020			2020			(Decrease)
Current Assets	$	31,720		$	90,454		$	(58,734	)
Current Liabilities	$	144,747		$	120,986		$	23,761
Working Capital Deficiency	$	(113,027	)	$	(30,532	)	$	82,495

Cash Flows

	Six Months Ended
	September 30,						Increase
	2020			2019			(Decrease)
Cash used in operating activities	$	58,734		$	22,166		$	36,568
Cash provided by financing activities	$	–		$	862		$	(862	)
Net Increase (Decrease) In Cash for period	$	(58,734	)	$	(21,304	)	$	(37,430	)

As of September 30, 2020, and March 31, 2020, our current assets were $31,720 and $90,454, respectively, solely from cash.

As of September 30, 2020, our current liabilities were $144,747 compared to $120,986 in current liabilities as of March 31, 2020. Stockholders’ deficit was $113,027 as of September 30, 2020, compared to stockholders' deficit of $30,532 as of March 31, 2020. As of September 30, 2020, current liabilities consisted primarily of $102,000 due to related parties and $27,000 for management fees payable to the Company’s officers, whereas as of March 31, 2020, current liabilities consisted primarily from $102,000 due to related parties and $15,000 management fees payable to the Company’s officers.

Operating Activities

Net cash used in operating activities during the six months ended September 30, 2020 was $58,734, compared to $22,166 net cash used in operating activities during the six months ended September 30, 2019.

Financing Activities

Cash provided by financing activities during the six months ended September 30, 2020 and 2019 were $0 and $862, respectively.

Off-Balance Sheet Arrangements

As of September 30, 2020, the Company had no material off-balance sheet arrangements.

Critical Accounting Policies

We prepare our financial statements in conformity with GAAP, which requires management to make certain estimates and assumptions and apply judgments. We base our estimates and judgments on historical experience, current trends and other factors that management believes to be important at the time the financial statements are prepared and actual results could differ from our estimates and such differences could be material. Due to the need to make estimates about the effect of matters that are inherently uncertain, materially different amounts could be reported under different conditions or using different assumptions. On a regular basis, we review our critical accounting policies and how they are applied in the preparation our financial statements.

Use of Estimates

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

Recent Accounting Pronouncements

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

As a “smaller reporting company”, we are not required to provide the information required by this Item.

Item 4.

Controls and Procedures

Evaluation of Disclosure Controls and Procedures

Our management is responsible for establishing and maintaining a system of disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act) that is designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the 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 Exchange Act is accumulated and communicated to the issuer’s management, including its principal executive officer or officers and principal financial officer or officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

An evaluation was conducted under the supervision and with the participation of our management of the effectiveness of the design and operation of our disclosure controls and procedures as of September 30, 2020. Based on that evaluation, our management concluded that our disclosure controls and procedures were not effective as of such date to ensure that information required to be disclosed in the reports that we file or submit under the Exchange Act, is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms as a result of the following material weaknesses:

The specific material weakness identified by our management was ineffective controls over certain aspects of the financial reporting process because of a lack of a sufficient complement of personnel with a level of accounting expertise and an adequate supervisory review structure that is commensurate with our financial reporting requirements and inadequate segregation of duties. A "material weakness" is a deficiency, or 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 would not be prevented or detected on a timely basis.

We expect to be materially dependent upon a third party to provide us with accounting consulting services for the foreseeable future. Until such time as we have a chief financial officer with the requisite expertise in U.S. GAAP, there are no assurances that the material weaknesses in our disclosure controls and procedures and internal control over financial reporting will not result in errors in our financial statements which could lead to a restatement of those financial statements.

Changes in Internal Controls

There have been no changes in our internal controls over financial reporting identified in connection with the evaluation required by paragraph (d) of Securities Exchange Act Rule 13a-15 or Rule 15d-15 that occurred in the quarter ended September 30, 2020 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

We were not subject to any legal proceedings during the three month period ended September 30, 2020 and there are currently no legal proceedings, to which we are a party, which could have a material adverse effect on our business, financial condition or operating results.

ITEM 1A. RISK FACTORS

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

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

No shares or common stock were sold during the three month period ended September 30, 2020.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

No senior securities were issued and outstanding during the three-month periods ended September 30, 2020 or 2019.

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable to our Company.

ITEM 5. OTHER INFORMATION

None.

ITEM 6. EXHIBITS

Exhibits

Exhibit Number		Exhibit Description
31.1*		Certification of Chief Executive Officer pursuant to Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2*		Certification of Chief Financial Officer pursuant to Rules 13a-14(a) and 15(d)-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1**		Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2**		Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes Oxley Act of 2002.
101.INS**		XBRL Instance Document
101.SCH**		XBRL Taxonomy Extension Schema Document
101.CAL**		XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF**		XBRL Taxonomy Extension Definition Linkbase Document
101.LAB**		XBRL Taxonomy Extension Label Linkbase Document
101.PRE**		XBRL Taxonomy Extension Presentation Linkbase Document

_________

* Filed herewith.

** XBRL (Extensive Business Reporting Language) information is furnished and not filed or a party of a registration statement or prospectus for purposes of Section 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

SIGNATURES

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.

	Kenloc, Inc.

Dated: November 13, 2020	By:	/s/ Fei Hao Fei Hao President, Chief Executive Officer and Director (Principal Executive Officer)

Dated: November 13, 2020	By:	/s/ Lixin He Lixin He Chief Financial Officer and Treasurer
		(Principal Financial Officer and Principal Accounting Officer

Kenloc, Inc. 10-Q