UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

~~[X] QUARTERLY~~☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For ~~The~~ ~~Quarterly~~the Quarterly Period Ended ~~September~~March 3031, ~~2020~~2021

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

For the transition period from ______ to ______

Commission File Number 333-208978

United Royale Holdings Corp.

(Exact name of registrant issuer as specified in its charter)

Nevada

98-1253258

(State or other jurisdiction of
incorporation or organization)

(I.R.S. Employer

Identification No.)

RM2 Campbell ~~405~~Drive, ~~4/F,~~Suite ~~Energy Plaza, 92 Granville Road~~307C ~~Tsim Sha Tsui~~Uxbridge, ~~Kowloon~~Ontario, ~~Hong~~Canada L9P ~~Kong~~1H6

(Address of principal executive offices, including zip code)

Registrant’s phone number, including area code (~~852~~647) ~~2733 6100~~400-6927

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

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
N/A		N/A		N/A

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 ~~[ ]~~☐

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 (section 232.405 of this chapter) during the preceding twelve months (or shorter period that the registrant was required to submit such files).

YES ~~[ ]~~ ☐ NO ~~[X]~~☒

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large Accelerated Filer [☐ ] Accelerated Filer [☐ ] Non-accelerated Filer [☐ ] 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 check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ~~[ ]~~ ☐ No ~~[X]~~ ☒

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
PROCEEDINGS DURING THE PRECEDING FIVE YEARS:

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to 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 latest practicable date.

Class		Outstanding at ~~November~~May 1317, ~~2020~~2021
Common Stock, $.0001 par value		141,990,387

TABLE OF CONTENTS

		Page
PART I	FINANCIAL INFORMATION
ITEM 1.	CONDENSED CONSOLIDATED FINANCIAL STATEMENTS:	3
	Condensed Consolidated Balance Sheets as of September 30, 2020 (unaudited) and December 31, 2019 (audited)	F-1
	Condensed Consolidated Balance Sheets as of March 31, 2021 and December 31, 2020 (unaudited)	3
	Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three and Nine Months Ended September 30, 2020 and 2019 (unaudited)	F-2
	Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three Months Ended March 31, 2021 and 2020 (unaudited)	4
	Condensed Consolidated Statements of Changes in Stockholders’ Equity for the Three and Nine Months Ended September 30, 2020 and 2019 (unaudited)	F-3
	Condensed Consolidated Statements of Changes in Stockholders’ Equity for the Three Months Ended March 31, 2021 and 2020 (unaudited)	5
	Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2020 and 2019 (unaudited)	F-4
	Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2021 and 2020 (unaudited)	6
	Notes to the Condensed Consolidated Financial Statements (unaudited)	F7-5 ~~– F-~~11
ITEM 2.	MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS	~~3-5~~12
ITEM 3.	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK	614
ITEM 4.	CONTROLS AND PROCEDURES	615
PART II	OTHER INFORMATION
ITEM 1	LEGAL PROCEEDINGS	716
ITEM 2	UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS	716
ITEM 3	DEFAULTS UPON SENIOR SECURITIES	716
ITEM 4	MINE SAFETY DISCLOSURES	716
ITEM 5	OTHER INFORMATION	716
ITEM 6	EXHIBITS	716
SIGNATURES		817

-2-

PART I — FINANCIAL INFORMATION

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

UNITED ROYALE HOLDINGS CORP.

CONDENSED CONSOLIDATED BALANCE SHEETS

AS OF ~~SEPTEMBER~~MARCH 3031, ~~2020~~2021 AND DECEMBER 31, ~~2019~~2020

(Currency expressed in United States Dollars (“US$”), except for number of share)

	As of September 30, 2020			As of December 31, 2019
	As of March 31, 2021			As of December 31, 2020
	~~(Unaudited)~~	(Unaudited)		~~(audited)~~	(Unaudited)
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	79,~~706~~879		$	636,~~839~~731
Prepaid expenses		10,198			21,157
Prepaid expenses and other receivables		86,202			95,451
TOTAL CURRENT ASSETS	$	17,904		$	84,996
Current assets from discontinued operation		–			(73,695	)
TOTAL CURRENT ASSETS		96,081			28,487
NON-CURRENT ASSETS
Plant and equipment, net		1,203			2,006
Non-current assets from discontinued operation		–			41,691
Biological assets		41,035			37,297
TOTAL ASSETS	$	96,081		$	70,178
Operating lease right-of-use assets, net		-			19,563
TOTAL ASSETS	$	60,142		$	143,862
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES
Accrued liabilities	$	1334,~~303~~453		$	2031,~~698~~533
Due to director		4559,~~887~~744			1149,~~284~~744
Operating lease liabilities, current portion		-			3,221
Current liabilities from discontinued operation		–			23,128
TOTAL CURRENT LIABILITIES	$	5994,~~190~~197		$	35104,~~203~~405
NON-CURRENT LIABILITIES
TOTAL LIABILITIES	$	94,197		$	104,405
Operating lease liabilities, net of current portion		-			16,342
TOTAL LIABILITIES	$	59,190		$	51,545
STOCKHOLDERS’ EQUITY
Preferred stock – Par value $0.0001; Authorized: 200,000,000 None issued and outstanding	$	-–		$	-–
Common stock – Par value $ 0.0001; Authorized: 600,000,000 Issued and outstanding: 141,990,387 shares as of September 30, 2020 and December 31, 2019		14,199			14,199
Common stock – Par value $ 0.0001; Authorized: 600,000,000 Issued and outstanding: 141,990,387 shares as of March 31, 2021 and December 31, 2020		14,199			14,199
Additional paid-in capital		789,468			789,468
Accumulated other comprehensive income/(loss)		~~(94~~–	)		~~953~~1,477
Accumulated deficit		(~~802~~801,~~621~~783	)		(~~712~~839,~~303~~371	)
TOTAL STOCKHOLDERS’ EQUITY		952			92,317
TOTAL STOCKHOLDERS’ EQUITY/(DEFICIT)		1,884			(34,227	)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	6096,~~142~~081		$	~~143~~70,~~862~~178

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

~~F-1~~3

UNITED ROYALE HOLDINGS CORP.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

AND COMPREHENSIVE LOSS ~~(UNAUDITED)~~

FOR THE THREE ~~AND NINE~~ MONTHS ENDED ~~SEPTEMBER~~MARCH 3031, ~~2020~~2021 AND ~~2019~~ 2020

(Currency expressed in United States Dollars (“US$”), except for number of shares)

	Three Months Ended September 30,						Nine months Ended September 30,
	For the Three Months Ended, March 31
	2020			2019			2020			2019
	2021			2020
REVENUE	$	-			-		$	-			-
	(Unaudited)			(Unaudited)
COST OF REVENUE	$	-			-		$	-			-
REVENUE	$	–		$	–
GROSS PROFIT	$	-			-		$	-			-
COST OF REVENUE		–			–
OPERATING EXPENSES:
GROSS PROFIT		–			–
General and administrative	$	(18,106	)		(67,730	)	$	(90,317	)		(184,824	)
OPERATING EXPENSES:
LOSS FROM OPERATIONS	$	(18,106	)		(67,730	)	$	(90,317	)		(184,824	)
General and administrative		(19,021	)		(47,180	)
OTHER EXPENSE
LOSS FROM OPERATIONS		(19,021	)		(47,180	)
Other income (expense), net		-–			1–			-			~~349~~
LOSS BEFORE INCOME TAX		(1819,~~106~~021	)		(6747,~~729~~180	)		~~(90,317~~	)		~~(184,475~~	)
INCOME TAX EXPENSE		-–			-–			-			-
NET LOSS	$	(18,106	)		(67,729	)	$	(90,317	)		(184,475	)
LOSS FROM DISCONTINUED OPERATIONS
Other comprehensive loss:
Loss from discontinued operations		(8,062	)		(1,177	)
- Foreign currency translation income (loss)		1,809			156			(1,046	)		128
Gain from disposal of subsidiaries		65,154			–
COMPREHENSIVE LOSS		(16,297	)		(67,573	)		(91,363	)		(184,347	)
NET INCOME / (LOSS)		38,071			(48,357	)
NET LOSS PER SHARE, BASIC AND DILUTED	$	(0.00	)		(0.00	)	$	(0.00	)		(0.00	)
OTHER COMPREHENSIVE INCOME (LOSS)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING, BASIC AND DILUTED		141,990,387			141,965,520			141,990,387			141,965,520
Realized foreign currency translation due to disposal of subsidiaries		(482	)		–
Foreign currency translation loss		(995	)		(3,254	)
Comprehensive income (loss)	$	36,594		$	(51,611	)
NET INCOME (LOSS) PER SHARE, BASIC AND DILUTED	$	0.00		$	(0.00	)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING, BASIC AND DILUTED		141,990,387			141,990,387

See accompanying notes to the unaudited consolidated financial statements.

~~F-2~~4

UNITED ROYALE HOLDINGS CORP.

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY

FOR THE THREE ~~AND NINE~~ MONTHS ENDED ~~SEPTEMBER~~MARCH 3031, ~~2020~~2021 AND ~~2019~~ 2020

(Currency expressed in United States Dollars (“US$”), except for number of shares)

Three ~~and~~ ~~nine~~ months ended ~~September~~March 3031, ~~2020~~2021 (Unaudited)

	COMMON STOCK				ADDITIONAL		ACCUMULATED OTHER						~~TOTAL~~
	Number of Shares		Amount		PAID-IN CAPITAL		COMPREHENSIVE LOSS			ACCUMULATED DEFICIT			~~STOCKHOLDERS’~~TOTAL EQUITY
Balance as of December 31, 2019 (audited)		141,990,387	$	14,199	$	789,468	$	953		$	(712,303	)	$	92,317
Balance as of December 31, 2020 (audited)		141,990,387	$	14,199	$	789,468	$	1,477		$	(839,371	)	$	(34,227	)
Net loss for the three months ended March 31, 2020		-		-		-		-			(48,357	)		(48,357	)
Disposal of subsidiaries		–		–		–		(482	)		–			(482	)
Foreign currency translation		-		-		-		(3,254	)		-			(3,254	)
Net income for the three months ended March 31, 2021		–		–		–		–			37,588			37,588
Balance as of March 31, 2020 (Unaudited)		141,990,387	$	14,199	$	789,468	$	(2,301	)	$	(760,660	)		40,706
Foreign currency translation		–		–		–		(995	)		–			(995	)
Net loss for three months ended June 30, 2020		-		-		-		-			(23,855	)		(23,855	)
Balance as of March 31, 2021 (Unaudited)		141,990,387	$	14,199	$	789,468	$	–		$	(801,783	)	$	1,884
Foreign currency translation		-		-		-		398			-			398
Balance as of June 30, 2020 (Unaudited)		141,990,387	$	14,199	$	789,468	$	(1,903	)	$	(784,515	)	$	17,249
Net loss for three months ended September 30, 2020		-		-		-		-			(18,106	)		(18,106	)
Foreign currency translation		-		-		-		1,809			-			1,809
Balance as of September 30, 2020 (Unaudited)		141,990,387	$	14,199	$	789,468	$	(94	)	$	(802,621	)		952

Three ~~and~~ ~~nine~~ months ended ~~September~~March 3031, ~~2019~~2020 (Unaudited)

	COMMON STOCK				ADDITIONAL		ACCUMULATED OTHER						~~TOTAL~~
	Number of Shares		Amount		PAID-IN CAPITAL		COMPREHENSIVE LOSS			ACCUMULATED DEFICIT			~~STOCKHOLDERS’~~TOTAL EQUITY
Balance as of December 31, 2018 (audited)		141,965,520	$	14,197	$	650,712	$	(460	)	$	(450,568	)	$	213,881
Balance as of December 31, 2019		141,990,387	$	14,199	$	789,468	$	953		$	(712,303	)	$	92,317
Net loss for three months ended March 31, 2019		-		-		-		-			(50,187	)		(50,187	)
Net loss for the three months ended March 31, 2020		–		–		–		–			(48,357	)		(48,357	)
Foreign currency translation		-–		-–		-–		(~~119~~3,254	)		-–			(~~119~~3,254	)
Balance as of March 31, 2019 (Unaudited)		141,965,520	$	14,197	$	650,712	$	(579	)	$	(500,755	)	$	163,575
Balance as of March 31, 2020 (Unaudited)		141,990,387	$	14,199	$	789,468	$	(2,301	)	$	(760,660	)	$	40,706
Net loss for the three months ended June 30, 2019		-		-		-		-			(66,559	)		(66,559	)
Foreign currency translation		-		-		-		90			-			90
Balance as of June 30, 2019 (Unaudited)		141,965,520	$	14,197	$	650,712	$	(489	)	$	(567,314	)	$	97,106
Net loss for the three months ended September 30, 2019		-		-		-		-			(67,729	)		(67,729	)
Foreign currency translation		-		-		-		156			-			156
Balance as of September 30, 2019 (Unaudited)		141,965,520	$	14,197	$	650,712	$	(333	)	$	(635,043	)		29,533

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

~~F-3~~5

UNITED ROYALE HOLDINGS CORP.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE ~~NINE~~THREE MONTHS ENDED ~~SEPTEMBER~~MARCH 3031, ~~2020~~2021 AND ~~2019~~ 2020

(Currency expressed in United States Dollars (“US$”), except for number of shares)

	For the nine months ended September 30, 2020			For the nine months ended September 30, 2019
	For the three months ended March 31, 2021			For the three months ended March 31, 2020
	~~(Unaudited)~~	(Unaudited)		~~(Unaudited)~~	(Unaudited)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	(90,317	)	$	(184,475	)
Net Income / (loss)	$	46,133		$	(47,179	)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization expenses		~~2,569~~–			~~2,597~~323
Increase in lease liabilities		-			(1,491	)
Gain on disposal of subsidiaries		(65,154	)		–
Changes in operating assets and liabilities:
Increase/ (Decrease) in accrued liabilities		(72,~~365~~920	)		(2015,~~892~~450	)
Decrease/ (Increase) in prepaid expenses		10,947			(104	)
Decrease/ (Increase) in prepaid expenses and other receivables		9,249			4,348
Decrease in lease liabilities		(1,790	)		-
Net cash flows used in operating activities		(6,851	)		(57,958	)
Net cash flows used in operating activities		(85,956	)		(204,365	)
CASH FLOWS FROM FINANCING ACTIVITIES:
CASH FLOWS USED IN INVESTING ACTIVITIES:
Advance from directors		10,000			2,564
(Increase)/ Decrease in biological assets		(4,548	)		(8,076	)
Net cash provided by financing activities		10,000			2,564
Net cash flows used in investing activities		(4,548	)		(8,076	)
Effect of exchange rate changes in cash and cash equivalents		–			(207	)
CASH FLOWS FROM FINANCING ACTIVITIES
Net changes in cash and cash equivalents		3,148			(55,601	)
Advance from directors		34,557			12,734
Operating cash flows of the discontinued operation		(22,643	)		(1,069	)
Net cash provided by financing activities		34,557			12,734
Investing cash flows of the discontinued operation		40,342			(2,288	)
Effect of exchange rate changes in cash and cash equivalents		(186	)		(45	)
Financing cash flows of the discontinued operation		(15,985	)		–
Net changes in cash and cash equivalents		(56,133	)		(199,752	)
Cash and cash equivalents, beginning of period		6,731			63,839
Cash and cash equivalents, beginning of period		63,839			261,930
CASH AT END OF PERIOD, CONTINUING OPERATIONS	$	9,879		$	4,881
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	7,706		$	62,178
CASH AT END OF PERIOD, DISCONTINUED OPERATIONS	$	1,692		$	–
SUPPLEMENTAL CASH FLOWS INFORMATION
Income taxes paid	$	-–		$	-–
Interest paid	$	-–		$	-–
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING ACTIVITIES
Initial recognition of operating lease right-of-use assets and operating lease obligations upon adoption of ASC Topic 842	$	21,330		$	21,330
Reversal Adjustment for operating lease right-of-use and operating lease obligation	$	17,105		$	-

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

~~F-4~~6

UNITED ROYALE HOLDINGS CORP.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE ~~NINE~~THREE MONTHS ENDED ~~SEPTEMBER~~MARCH 3031, ~~2020~~2021 AND 2020 ~~2019~~ (UNAUDITED)

(Currency expressed in United States Dollars (“US$”), except for number of shares)

1.	BASIS OF PRESENTATION

The accompanying unaudited condensed consolidated financial statements have been prepared by management in accordance with both accounting principles generally accepted in the United States (“GAAP”), and the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Certain information and note disclosures normally included in audited financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading.

In the opinion of management, the balance sheet as of ~~September~~March 3031, ~~2020~~2021 which has been derived from unaudited financial statements and these unaudited condensed consolidated financial statements reflect all normal and recurring adjustments considered necessary to state fairly the results for the periods presented. The results for the period ended ~~September~~March 3031, ~~2020~~2021 are not necessarily indicative of the results to be expected for the entire fiscal year ending December 31, ~~2020~~2021 or for any future period.

These unaudited condensed consolidated financial statements and notes thereto should be read in conjunction with the Management’s Discussion and the audited financial statements and notes thereto included in the Form 10-K for the year ended December 31, ~~2019~~2020.

2.	DESCRIPTION OF BUSINESS AND ORGANIZATION

United Royale Holdings Corp., formerly known as Bosy Holdings Corp. (“the Company”, “we”, “us” or “our”) was incorporated in the State of Nevada on June 23, 2015. We intend to offer planting and cultivation services to land owners in regards to the planting and cultivation of Aquilaria Subintegra & Aquilaria Sinensis trees. We also intend to provide services relating to the extraction of Agarwood from such trees through a process known as “inoculation.”

On September 30, 2018, the Company and Mr. CHEN Zheru, representing the sole shareholder of IV Enterprises Development Limited, a Seychelles corporation (“IVED”), entered into a Sale and Purchase Agreement, pursuant to which the Company acquired 100% (one hundred percent) of the shareholding of IVED. IVED provides tree nurseries, including planting, cultivation and inoculation services through its wholly-owned subsidiary, Oudh Tech Sdn Bhd, in Malaysia. The acquisition ~~was~~is completed on September 30, 2018.

Mr. CHEN Zheru is the common director and major shareholder of the Company and IVED. As a result of this common ownership and in accordance with the FASB Accounting Standards Codification Section 805 “Business Combination”, the transaction is being treated as a combination between entities under common control. The recognized assets and liabilities were transferred at their carrying amounts at the date of the transaction. The equity accounts of the combining entities are combined. Further, the companies will be combined retrospectively for prior year comparative information as if the transaction had occurred on January 1, 2017.

3On March 30, 2021, the Company and Mr. ~~SUMMARY~~Li OFGongming ~~SIGNIFICANT~~(“Mr. ~~ACCOUNTING~~Li”), ~~POLICIES~~the director of the Company, signed an instrument of transfer, pursuant to which Mr. Li acquired 100% (one hundred percent) of the shareholding of IVED. The consideration was set at $1, same as the consideration that the Company acquired IVED in 2018. There was a gain of $65,154 on disposal of the subsidiaries due to an equity deficit of the disposed subsidiaries.

~~Basis of presentation~~7

~~The accompanying~~3. ~~financial~~SUMMARY ~~statements~~OF ~~are~~SIGNIFICANT ~~prepared~~ACCOUNTING ~~in accordance with generally accepted accounting principles in the United States of America (“US GAAP”).~~POLICIES

~~The accompanying~~Basis ~~financial statements include the accounts~~ of ~~the Company and its wholly-owned subsidiaries. Intercompany transactions and balances were eliminated in consolidation.~~presentation

~~F-5~~The accompanying financial statements are prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”).

~~Below~~The accompanying financial statements isinclude the ~~organization~~accounts ~~chart~~of the Company and its wholly-owned subsidiaries. Intercompany transactions and balances were eliminated in consolidation. As of March 31, 2021, there was no subsidiary held by the ~~Group~~Company.

Use of estimates

Management uses estimates and assumptions in preparing these financial statements in accordance with US GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities in the balance sheet, and the reported revenue and expenses during the periods reported. Actual results may differ from these estimates.

Going Concern

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. During the ~~nine~~three months ended ~~September~~March 3031, ~~2020~~2021, the Company incurred a ~~net~~ loss before income tax of $9019,~~317~~ 021 and used cash in operations of $856,~~956~~852. These factors raise substantial doubt about the Company’s ability to continue as a going concern within one year of the date that the financial statements are issued. In addition, the Company’s independent registered public accounting firm, in its report on the Company’s December 31, ~~2019~~2020 financial statements, has expressed substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

The Company’s ability to continue as a going concern is dependent upon improving its profitability and the continuing financial support from its shareholders. Management believes the existing shareholders or external financing will provide the additional cash to meet the Company’s obligations as they become due. Despite the amount of funds that we have raised, 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 the Company. Even if the Company is able to obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stockholders, in the case of equity financing.

~~COVID-19 outbreak~~Cash and cash equivalents

~~In March~~Cash ~~2020~~and ~~the~~cash ~~World~~equivalents ~~Health~~are ~~Organization~~carried at ~~declared~~cost ~~coronavirus~~and ~~COVID-19~~represent acash ~~global~~on ~~pandemic. The COVID-19 pandemic has negatively impacted the global economy~~hand, ~~workforces,~~demand ~~customers,~~deposits ~~and~~placed ~~created~~with ~~significant~~banks ~~volatility~~or ~~and~~other ~~disruption of~~ financial ~~markets.~~institutions ~~It has~~and ~~also~~all ~~disrupted~~highly ~~the~~liquid ~~normal operations of many businesses, including ours. This outbreak could decrease spending, adversely~~investments ~~affect~~with ~~demand~~an ~~for~~original ~~our~~maturity ~~services and harm our business and results~~ of ~~operations.~~three Itmonths ~~is not possible for us to predict the duration~~ or ~~magnitude~~less ofas ~~the adverse results~~ of the ~~outbreak~~purchase ~~and~~date ~~its effects on our business or results~~ of ~~operations~~such ~~at this time~~investments.

~~Cash~~Our deposit in Hong Kong is currently deposit in HSBC Hong Kong, and ~~cash~~there ~~equivalents~~is a Deposit Protection Scheme protects our eligible deposits held with bank in Hong Kong which is members of the Scheme. The scheme will pay us a compensation up to a limit of HKD500,000, which is equivalent to $64,102, if HSBC Hong Kong fails.

Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments.8

~~Our deposit~~Fair invalue ~~Hong Kong is currently deposit in HSBC Hong Kong, and there is a Deposit Protection Scheme protects our eligible deposits held with bank in Hong Kong which is members~~ of ~~the~~financial ~~Scheme. The scheme will pay us a compensation up to a limit of HKD500,000, which is equivalent to $64,102, if HSBC Hong Kong fails.~~instruments

~~Our deposit~~The incarrying ~~Malaysia~~value isof ~~currently~~the ~~deposit~~Company’s infinancial instruments: ~~Malayan~~cash ~~Banking Berhad,~~ and ~~there~~cash isequivalents, aprepayments, ~~Perbadanan~~amount ~~Insurans~~due ~~Deposit~~to ~~Malaysia~~a ~~protects our~~director ~~eligible~~and ~~deposits~~accrued ~~held~~liabilities ~~with~~approximate ~~bank~~at intheir ~~Malaysia~~fair ~~which~~values because ~~is members~~ of the ~~Scheme.~~short-term ~~The~~nature ~~scheme will pay a compensation up to a limit~~ of ~~Malaysia~~these ~~Ringgit~~financial ~~(“MYR”) 250,000 per deposit per member bank, which is equivalent to $60,167, if the aforementioned banks fails~~instruments.

FThe Company follows the guidance of the ASC Topic 820-610, “Fair Value Measurements and Disclosures” (“ASC 820-10”), with respect to financial assets and liabilities that are measured at fair value. ASC 820-10 establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows:

~~Plant and~~· ~~equipment~~Level 1 : Observable inputs such as quoted prices in active markets;

~~Plant and~~· ~~equipment~~Level ~~are~~2 ~~stated~~: atInputs, ~~cost~~other ~~less~~than ~~accumulated~~the ~~depreciation~~quoted ~~and~~prices ~~impairment.~~in ~~Depreciation~~active ~~of plant~~markets, ~~equipment~~that ~~and software~~ are ~~calculated~~ onobservable ~~the~~either ~~straight-line~~directly ~~method over their estimated useful lives~~ or ~~lease~~indirectly; ~~terms generally as follows:~~and

	Classification		Useful Life
	Computer and Software		3 years
	Equipment		10 years

Level 3 : Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions information regarding the impact of the adoption of ASC 842 on the Company’s financial statements.

~~The Company~~Recent ~~purchased~~accounting ~~2 computers at the end of June 2017, and the computers has been subject to depreciation since the utilization in July 2017. Expenditures for maintenance and repairs will be expensed as incurred.~~pronouncements

~~Biological~~In November 2016, the FASB issued Accounting Standards ~~Assets~~Update No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (ASU 2016-18), which requires companies to include amounts generally described as restricted cash and restricted cash equivalents in cash and cash equivalents when reconciling beginning-of-period and end-of-period total amounts shown on the statement of cash flows. We adopted the new standard effective January 1, 2018, and the standard did not have a material impact on our financial statements.

~~Biological~~In January 2017, the FASB issued Accounting Standards ~~Assets~~Update ofNo. 2017-01, Business Combinations (Topic 805): Clarifying the ~~Company~~Definition ~~comprise~~of a Business (ASU 2017-01), which revises the definition of ~~agarwood~~a ~~sapling~~business and ~~plantation~~provides ~~cost~~new guidance in evaluating when a set of ~~agarwood~~transferred assets and activities is a business. We adopted the new standard effective January 1, 2018 on a prospective basis. The new standard did not have a material impact on our consolidated financial statements.

~~Pursuant to~~The ~~ASC 905-360-25-2, Biological Assets are planted and brought to production by the~~ Company orhas onreviewed aall ~~contract~~recently issued, ~~basis.~~but ~~Saplings~~not ~~are usually~~yet ~~purchased~~effective, asaccounting ~~nursery~~pronouncements ~~stock~~ and ~~transplanted~~do ~~into~~not ~~the~~believe ~~farmland in~~ the ~~desired~~future ~~pattern.~~adoption ~~Cost~~ of ~~biological~~any ~~assets~~such ~~consists of~~pronouncements ~~accumulated~~may ~~planation~~be ~~development costs incurred from commencement of planting of seedlings up to maturity of the crop cultivated.~~expected ~~Capitalization of planation development and other operating costs ceases upon commencement of commercial harvesting, which range from 7~~ to 9cause ~~years.~~a ~~Net~~material ~~proceeds~~impact ~~from~~on ~~sales~~its offinancial ~~products~~condition ~~before~~or ~~commercial production begins shall be applied to~~ the ~~capitalized cost~~results of ~~the~~its ~~plants, trees, or vines~~operations.

~~Biological Assets is measured using average cost, and is measured at the lower of cost and net realizable value~~4. ~~When~~PREPAID ~~evidence~~EXPENSES ~~exists~~AND ~~that the~~OTHER net realizable value of biological Assets is lower than its cost, the difference shall be recognized as a loss in earnings in the period in which it occurs. Impairment loss may be required, for example, due to damage, physical deterioration, obsolescence, changes in price levels, or other causes.RECEIVABLES

~~Pursuant~~The prepaid expenses as of March 31, 2021 included toOTCQB ~~ASC~~annual ~~905-360-35-4~~fee of $10,500, ~~when~~deposit ~~production~~of $100 in ~~commercial~~transfer ~~quantities~~agent, ~~begins~~and $75,602 ~~the~~in ~~accumulated~~other ~~costs~~receivables ~~shall~~from beour ~~depreciated~~former ~~over~~subsidiaries, ~~the~~while ~~estimated~~the ~~useful~~prepaid ~~life~~expenses as of ~~the~~December ~~particular~~31, ~~farmland~~2020 included OTCQB annual fee of $14,000, deposit of $600 and $6,410 in transfer agent and our consultancy firm.

~~Since August 1, 2020, the Company has stopped to accumulate the plantation cost of agarwood pursuant to the Inoculation Harvesting and Acquisition Agreement signed with Dadvance Agarwood Solutions Sdn~~5. ~~Bhd.~~ACCRUED LIABILITIES

~~Foreign~~The accrued liabilities as of March 31, 2021 included ~~currencies~~the ~~translation~~auditor’s fee of $6,500, EDGAR fee of $1,025, professional fee to our consultancy firm of $24,359 and $2,569 payable to our former subsidiary, while the accrued liabilities as of December 31, 2020 included the auditor’s fee of $4,750, predecessor auditor consent fee of $5,000 and professional fee to our consulting service provider of $19,231.

~~Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction~~6. ~~Monetary~~AMOUNT ~~assets~~DUE ~~and~~TO liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the statement of operations.DIRECTOR

~~The reporting~~As ~~currency~~ of ~~the~~March ~~Company~~31, is2021, ~~the United States Dollars (“US$”)~~ and ~~the accompanying financial statements have~~December ~~been~~31, ~~expressed in US$. Hong Kong Dollars (“HK$”)~~2020, ~~which~~our isdirectors ~~the~~has ~~respective~~loaned ~~functional~~to ~~currencies for~~ the Company ~~as the deposit is currently kept in HSBC Hong Kong. In addition~~$59,744 ~~the Company’s subsidiaries maintain their books~~ and ~~records in~~$49,744 ~~their~~as ~~respective~~working ~~local currency~~capital, ~~which~~respectively. ~~consists~~This ofloan ~~the~~is ~~Hong~~unsecured, ~~Kong~~non-interest bearing ~~Dollars (“HK$”)~~ and ~~Malaysian~~due ~~Ringgit~~on ~~(“MYR”), which is also the respective functional currency of the subsidiaries~~demand.

~~Translation of amounts from the local currencies of the Company into US$ has been made at the following exchange rates for the respective periods:~~9

	As of and for the nine months ended September 30
	2020		2019
	(Unaudited)		(Unaudited)
Period-end MYR : US$1 exchange rate		4.15		4.19
Period-average MYR : US$1 exchange rate		4.23		4.13
Period-end / average HK$ : US$1 exchange rate		7.75		7.75

7.	STOCKHOLDERS’ EQUITY

~~F-7~~As of March 31, 2021, and December 31, 2020, there were 141,990,387 and 141,990,387 shares of common stock issued and outstanding respectively.

~~Income~~There were no stock options, ~~taxes~~warrants or other potentially dilutive securities outstanding as of March 31, 2021.

~~The Company accounts for income taxes using the asset and liability method~~8. ~~The~~DISCONTINUED asset and liability method requires recognition of deferred tax assets and liabilities for expected future tax consequences of temporary differences that currently exist between tax bases and financial reporting bases of the Company’s assets and liabilities. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which these temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided on deferred taxes if it is determined that it is more likely than not that the asset will not be realized. The Company recognizes penalties and interest accrued related to income tax liabilities in the provision for income taxes in its Consolidated Statements of Income.OPERATIONS

~~Significant management~~On ~~judgment~~March is30, ~~required~~2021, ~~to determine~~ the ~~amount~~Company ofhas ~~benefit~~signed toan beinstrument of ~~recognized~~transfer inwith ~~relation~~our todirector, anMr. ~~uncertain~~Li ~~tax position~~Gongming. ~~The~~ ~~Company~~Beginning ~~uses~~on aJanuary ~~two-step~~1, ~~process~~2020, tothe ~~evaluate~~Company ~~tax~~historical ~~positions.~~financial ~~The~~results ~~first~~for ~~step~~periods ~~requires an entity~~ prior to ~~determine~~the ~~whether~~above ittransaction ishave ~~more likely~~been ~~than~~reflected ~~not~~in ~~(greater~~our ~~than~~statement ~~50%~~of ~~chance)~~income, ~~that~~retrospectively, ~~the~~as ~~tax~~discontinued ~~position~~operations. ~~will~~Additionally, bethe related ~~sustained.~~assets ~~The~~and ~~second~~liabilities ~~step~~associated ~~requires~~with anthe ~~entity~~discontinued tooperations ~~recognize~~ in the ~~financial~~prior ~~statements~~year ~~the~~balance ~~benefit~~sheet ofare aclassified ~~tax~~as ~~position that meets the more-likely-than-not recognition criterion~~discontinued operations. ~~The~~As ~~amounts ultimately~~such, ~~paid~~as ~~upon resolution~~ of ~~issues~~March ~~raised~~31, by2021, ~~taxing~~the ~~authorities~~Company ~~may~~accounted ~~differ~~for ~~materially~~all ~~from~~of ~~the~~its ~~amounts~~assets, ~~accrued~~liabilities and ~~may materially~~results ~~impact~~of ~~the~~operations ~~financial~~up ~~statements~~to ofMarch 30, ~~the~~2021 ~~Company~~as indiscontinued ~~future periods~~operations.

~~F-8~~During the three months ended March 31, 2021, the Company did not record a gain or loss on this disposal of subsidiaries.

~~Fair~~The following table shows ~~value~~the results of ~~financial~~operations ~~instruments~~of the Company for three months ended March 31, 2021 and 2020 which are included in the loss from discontinued operations:

The carrying value of the Company’s financial instruments: cash and cash equivalents, prepayments, amount due to a director and accrued liabilities approximate at their fair values because of the short-term nature of these financial instruments.

	Three months ended March 31, 2021			Three months ended March 31, 2020

REVENUE	$	–		$	–
COST OF REVENUE		–			–
GROSS PROFIT		–			–
GENERAL AND ADMINISTRATIVE EXPENSES		(8,062	)		(1,177	)
LOSS FROM OPERATIONS		(8,062	)		(1,177	)
OTHER INCOME/(EXPENSES)		–			–
LOSS BEFORE INCOME TAX		(8,062	)		(1,177	)
INCOME TAX REFUND / (EXPENSE)		–			–
NET LOSS	$	(8,062	)	$	(1,177	)

~~The Company follows the guidance of the ASC Topic 820-~~10, “Fair Value Measurements and Disclosures” (“ASC 820-10”), with respect to financial assets and liabilities that are measured at fair value. ASC 820-10 establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows:

●The following table shows the carrying ~~Level~~amounts 1of :the ~~Observable~~major ~~inputs~~classes ~~such~~of asassets ~~quoted~~and ~~prices~~liabilities inassociated ~~active~~with ~~markets;~~the Company as of March 30, 2021:

● Level 2 : Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and

	As of March 30, 2021
	(Unaudited)
ASSETS
Current Assets
Cash and cash equivalents	$	1,692
Prepaid expenses		724
Total Current Assets		2,416
Non-current Assets
Plant and equipment, net		1,116
Biological Assets		38,651
TOTAL ASSETS	$	42,183

LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Amount due to director	$	19,800
Amount due to former parent company		73,033
Accounts payable and accrued expenses		14,504
Total Current Liabilities		107,337
TOTAL LIABILITIES	$	107,337

STOCKHOLDERS’ EQUITY
Equity		(65,154	)
TOTAL STOCKHOLDERS' EQUITY		(65,154	)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	42,183

~~● Level~~9. 3SUBSEQUENT ~~: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions~~EVENTS

~~Lease~~Our Board of Directors, Li Gongming, Teoh Kooi Sooi and Soh Khay Wee resigned from the board of directors on April 7, 2021. On the same day, Teoh Kooi Sooi resigned from the roles of Chief Executive Officer, Chief Financial Officer and Treasurer of the Company, David Edwin Evans resigned from the role of Chief Operation Officer of the Company, Liao Lin resigned from the role of Chief Sales Officer of the Company, Jaya C Rajamanickam resigned from the role of President of the Company while Feliana Binti Johny resigned from the role of Secretary of the Company.

~~Prior to~~On ~~January~~April 17, ~~2019~~2021, ~~the~~Mr. ~~Company~~Gary ~~had~~Bartholomew ~~not~~was ~~entered into formal lease agreement and the Company accounted for leases under ASC 840,~~appointed ~~Accounting~~as ~~for Leases. Effective July 1, 2019,~~ the ~~Company adopted the guidance of ASC 842~~Director, ~~Leases,~~Chief ~~which~~Executive requires an entity to recognize a right-of-use asset and a lease liability for virtually all leases. The implementation of ASC 842 did not have a material impact on the Company’s consolidated financial statements and did not have a significant impact on our liquidity or on our compliance with our financial covenants associated with our loans. The Company adopted ASC 842 using a modified retrospective approach. As a resultOfficer, ~~the~~Chief ~~comparative~~Financial financial information has not been updated and the required disclosures prior to the date of adoption have not been updated and continue to be reported under the accounting standards in effect for those periods. The adoption of ASC 842 on January 1Officer, ~~2019 resulted in the recognition of operating lease right-of-use assets of $21~~President,~~330,~~ ~~lease liabilities for operating leases of $21~~Secretary,~~330,~~ ~~and~~Treasurer ~~a zero cumulative-effect adjustment to accumulated deficit. See Note 8 for further information regarding the impact~~ of the ~~adoption of ASC 842 on the~~ Company~~’s financial statements~~.

On August 1, 2020, the tenancy agreement was transferred to Dadvance Agarwood Solutions Sdn Bhd. And the Company was no longer liable or responsible for the tenancy agreement since August 1, 2020, and the operating lease right-of-use and lease liabilities were offset on August 1, 2020.11

~~Recent accounting~~ITEM ~~pronouncements~~2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

~~In June~~The ~~2016,~~information ~~the~~contained ~~FASB~~in ~~issued~~this ~~ASU~~quarter ~~2016~~report on Form 10-~~13,~~Q ~~Measurement~~is ofintended ~~Credit~~to ~~Losses~~update onthe ~~Financial~~information ~~Instruments~~contained ~~(Topic~~in ~~326).~~our ~~ASU~~Form ~~2016~~10-13K ~~requires entities~~dated toMarch ~~use~~29, a2021, ~~forward-looking~~for ~~approach~~the ~~based~~year onended ~~current~~December ~~expected~~31, ~~credit~~2020 and ~~losses~~presumes ~~(“CECL”)~~that toreaders ~~estimate~~have ~~credit~~access ~~losses on~~to, ~~certain~~and ~~types~~will ofhave ~~financial instruments~~read, ~~including~~the ~~trade~~“Management’s ~~receivables.~~Discussion ~~This~~and ~~may~~Analysis ~~result~~of inFinancial ~~the~~Condition and ~~earlier~~Results ~~recognition~~ of ~~allowances for~~Operations” ~~losses.~~and ~~ASU~~other ~~2016-13~~information iscontained ~~effective~~in ~~for~~such ~~the~~Form ~~Company~~10-K. ~~beginning~~The ~~January~~following 1,discussion ~~2023,~~ and ~~early~~analysis ~~adoption~~also ~~is permitted. The Company does~~should ~~not~~be ~~believe~~read ~~the~~together ~~potential~~with ~~impact~~our offinancial ~~the~~statements ~~new guidance~~ and ~~related~~the ~~codification~~notes ~~improvements will be material~~ to ~~its~~the financial ~~position, results~~statements ofincluded ~~operations~~elsewhere ~~and~~in ~~cash~~this ~~flows~~Form 10-Q.

~~Other recent~~The ~~accounting~~following ~~pronouncements~~discussion ~~issued~~contains bycertain ~~the~~statements that ~~FASB,~~may ~~including~~be ~~its~~deemed ~~Emerging~~“forward-looking ~~Issues~~statements” ~~Task~~within ~~Force,~~the meaning of the ~~American~~Private ~~Institute~~Securities Litigation Reform Act of ~~Certified~~1995. ~~Public~~Such ~~Accountants~~statements appear in a number of places in this Report, including, without limitation, “Management’s Discussion and ~~the~~Analysis of ~~Securities~~Financial Condition and ~~Exchange~~Results ~~Commission~~of ~~did~~Operations.” These statements are not guarantees of future performance and involve risks, uncertainties and requirements that are difficult to predict or are beyond our control. Forward-looking statements speak only as of the date of this quarterly report. You should not ~~believed~~put byundue ~~management~~reliance on any forward-looking statements. We strongly encourage investors to carefully ~~have~~read the factors described in our Form 10-K dated March 29, 2021, in the section entitled “Risk Factors” for a ~~material~~description of ~~impact~~certain risks that could, among other things, cause actual results to differ from these forward-looking statements. We assume no responsibility to update the forward-looking statements contained in this transition report on Form 10-Q. The following should also be read in conjunction with the ~~Company’s~~unaudited ~~present~~Condensed orConsolidated ~~future~~Financial ~~financial~~Statements ~~statements~~and notes thereto that appear elsewhere in this report.

~~F-9~~Company Overview

4United Royale Holdings Corp. ~~PREPAID~~(the ~~EXPENSES~~“Company”) was incorporated under the laws of the State of Nevada on June 23, 2015. United Royale Holdings Corp., is a developmental stage company that intends to offer planting and cultivation services to land owners in regards to the planting and cultivation of Aquilaria Subintegra & Aquilaria Sinensis trees. The company also intend to provide services relating to the extraction of Agarwood (Agarwood is extracted from those tree, about 10-15% wood of the tree can become Agarwood) from such trees, through the process of “fungal inoculation.”

~~The prepaid~~We ~~expenses~~offer asplanting ofand ~~September~~cultivation ~~30,~~services ~~2020~~to land ~~included~~owners ~~OTCQB annual fee of $3,000, deposit of $66~~ in ~~transfer~~regards ~~agent,~~to ~~deposit of $6,410 in~~ the ~~consulting~~planting ~~service provider,~~ and ~~deposit~~cultivation of ~~$722~~Aquilaria inSubintegra ~~our~~& ~~farmland~~Aquilaria ~~provider,~~Sinensis ~~while~~trees. ~~the~~We ~~prepaid~~also ~~expenses~~intend asto ~~of December 31,~~provide ~~2019~~services ~~included~~relating ~~OTCQB~~to ~~annual~~the ~~fee~~extraction of ~~$12,000,~~Agarwood ~~deposit~~from ofsuch ~~$2,013~~trees ~~and~~through ~~$6,410~~a inprocess ~~transfer~~known ~~agent~~as ~~and our consultancy firm, and deposit of $734 in our farmland provider~~“inoculation.”

On February 1, 2018, the majority of the directors and shareholders of the Company adopted the resolution to request a name change of the Company from “Bosy Holdings Corp.” to “United Royale Holdings Corp.”. The name change became effective with the State of Nevada on February 5, 2018. ~~PLANT~~FINRA ~~AND~~announced on ~~EQUIPMENT~~February 14, ~~NET~~2018 that the new name of “United Royale Holdings Corp.” was be effective on February 15, 2018, and the new ticker symbol of “URYL” was effective on February 15, 2018.

	As of September 30, 2020			As of December 31, 2019
	(Unaudited)			(Audited)
Computer and Software	$	3,878		$	3,878
Equipment		1,751			1,816
		5,629			5,694
Less: Accumulated Depreciation		(4,426	)		(3,688	)
Plant and equipment, net	$	1,203		$	2,006

On March 30, 2018, Mr. Teoh Kooi Sooi resigned from the President of the Company. And Mr. Teoh retained his position of Chief Executive Officer, treasurer, and director in the board. The resignation was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. Mr. Teoh Kooi Sooi has been the President of the Company since September 18, 2015.

~~The~~On March 30, 2018, Mr. Chen Zheru resigned from the Secretary of the Company. ~~acquired~~And ~~computers~~Mr. ~~and~~Chen awill ~~software~~retain athis ~~$3,878~~position inof ~~2017,~~director ~~and~~in the ~~accumulated~~board. ~~depreciations~~The asresignation was not the result of ~~September~~any disagreement 30with the Company on any matter relating to the Company’s operations, ~~2020~~policies ~~and~~or ~~December~~practices. Mr. Chen Zheru has been ~~31,~~the ~~2019~~Secretary ~~were~~of ~~$3,878~~the ~~and~~Company $3since September 18,~~232~~ ~~respectively~~2015.

~~The~~On March 30, 2018, Ms. Jaya C Rajamanickam was appointed as the Company’s ~~acquired~~new ~~Engine~~President. ~~Pump~~Ms. atFeliana ~~$1,816~~Binti inJohny ~~2017~~was appointed as the Company’s new Secretary. The ~~accumulated~~biographies for ~~depreciations~~new asofficers of ~~September~~the ~~30,~~Company ~~2020~~was ~~and~~filed ~~December~~in ~~31,~~the ~~2019~~Form ~~were $548~~8-K ~~and~~filed ~~$456~~with ~~respectively~~SEC on March 30, 2018.

~~The depreciation expense for September 30, 2020 and 2019 were $795 and $1,106 respectively.~~12

6On September 30, 2018, the Company and Mr. ~~BIOLOGICAL~~CHEN Zheru, ~~ASSETS~~representing the sole shareholder of IV Enterprises Development Limited, a Seychelles corporation (“IVED”), entered into a Sale and Purchase Agreement, pursuant to which the Company acquired 100% (one hundred percent) of the shareholding of IVED. IVED provides tree nurseries, including planting, cultivation and inoculation services through its wholly-owned subsidiary, Oudh Tech Sdn Bhd, in Malaysia. The acquisition is completed on September 30, 2018.

~~Biological~~On October 22, 2018, Mr. David Edwin Evans was ~~Assets~~appointed ofas the Company’s ~~comprise~~Chief ofOperating ~~agarwood~~Officer. ~~sapling~~Mr. ~~and~~Liao ~~plantation~~Lin ~~cost~~was appointed as the Company’s Chief Sales Officer. The biographies for new officers of ~~agarwood~~the Company was filed in the Form 8-K filed with SEC on October 22, 2018.

~~The~~On November 30, 2018, Mr. Chen Zheru resigned from the board of directors with the Company. ~~acquired~~The resignation was not the ~~agarwood~~result ~~sapling~~of atany ~~MYR98,800~~disagreement ~~(approximately~~with ~~$23~~the Company on any matter relating to the Company’s operations,~~587)~~ inpolicies ~~2017~~or practices. ~~The~~Mr. ~~accumulated~~Chen ~~planation~~Zheru ~~development~~has ~~costs incurred~~been ~~from~~the ~~commencement~~director of ~~planting~~the ofCompany ~~seedlings~~since ~~up to~~ September 3018, ~~2020~~2015. On ~~and~~the ~~December~~same 31day, ~~2019~~Mr. ~~were~~Li ~~$41,035~~Gongming ~~and~~was ~~$37,297~~appointed ~~respectively~~as the Company’s new member of board of directors.

On December 5, 2018, as a result of a private transaction, 100% shareholding of Bosy Holdings Limited has been transferred from Mr. Chen Zheru to Mr. Li Gongming. The consideration ~~company~~paid ~~would~~for nothe ~~longer~~transaction ~~accumulate~~was $50,000. The source of the ~~cost~~cash ~~into~~consideration ~~biological~~for ~~assets~~the ~~after~~transaction ~~signing~~was ~~Inoculation~~personal ~~Harvesting~~funds ~~and~~of ~~Acquisition~~the ~~Agreement~~Purchaser. Bosy ~~with~~Holdings ~~Dadvance~~Limited, ~~Agarwood~~a ~~Solutions~~limited ~~Sdn.~~liability ~~Bhd~~company onincorporated ~~August~~in 1Seychelles, ~~2020~~holds 78,415,100 shares of United Royale Holdings Corp. The Transaction ~~biological~~resulted ~~assets~~in ~~are~~the ~~expected~~Purchaser toacquiring bea ~~harvested~~total ~~within~~of 355.235% ~~years,~~ of the issued and outstanding share capital of the Company ison ~~entitled~~a tofully-diluted basis, ~~20%~~which ~~from~~caused a change in control of the ~~Agarwood~~Company. ~~proceeds~~And Mr. Li owns 6,000,000 shares of the Company as ~~revenue~~of December 7, 2018, which constitutes a total shareholding of 59.461% of the Company.

7On April 1, 2019, the Company entered into a six-year tenancy agreement with Halaman Girang Sdn Bhd, the landlord of the farmland, for renting Lot 4316, Batu 20, Jalan Segamat, 84900, Tangkak, Johor, Malaysia. ~~AMOUNT~~The ~~DUE~~monthly TOrental ~~DIRECTOR~~payment is MYR1,500, equivalent to around $363. The tenancy period is valid from April 1, 2019 to March 31, 2025.

~~As of~~On ~~September~~April 301, ~~2020, and December 31,~~ 2019, ~~our directors has loaned to~~ the Company ~~$45,887~~entered ~~and~~into ~~$11,284~~an asagarwood ~~working~~management ~~capital, respectively.~~agreement ~~This~~with ~~loan~~Ms. isSimone ~~unsecured,~~Yap ~~non-interest~~Xin ~~bearing~~Wei ~~and~~for ~~due~~providing onagarwood ~~demand.~~plantation Wemanagement ~~performed~~and ~~the calculation of imputed interest~~farming ~~and~~operations ~~believed~~in the ~~imputed~~farmland. ~~interest~~The agreement is ~~not~~valid ~~significant~~from ~~when~~April ~~compare~~1, 2019 to ~~our~~March ~~balance sheet size and total expense~~31, ~~and as a result~~2020, we ~~didn’t~~with ~~capture~~monthly ~~this~~service ~~figure~~fee ~~into~~of ~~our~~MYR2,640, ~~financial~~equivalent to ~~statements~~$639.

FOn June 12, 2019, Mr. Soh Khay Wee was appointed as the Company’s Director. The biographies for new officers of the Company was filed in the Form 8-10K filed with SEC on June 12, 2019.

8On March 30, 2021, the Company and Mr. ~~OPERATING~~Li ~~LEASE~~Gongming (“Mr. Li”), the director of the Company, signed an instrument of transfer, pursuant to which Mr. Li acquired 100% (one hundred percent) of the shareholding of IVED. The consideration was set at $1, same as the consideration that the Company acquired IVED in 2018. There was a gain of $65,154 on disposal of the subsidiaries due to an equity deficit of the disposed subsidiaries. The disposal of subsidiaries was due to the uncertain business environment during the pandemic period since end of 2019.

~~The~~Our Board of Directors, Li Gongming, Teoh Kooi ~~Company~~Sooi ~~has~~and anSoh ~~operating~~Khay ~~lease~~Wee ~~agreement~~resigned ~~for~~from athe ~~farmland~~board ~~since~~of directors on April 17, ~~2019~~2021. ~~The~~On ~~Company~~the ~~does~~same ~~not~~day, ~~have~~Teoh ~~any~~Kooi ~~other~~Sooi ~~leases.~~resigned ~~The~~from ~~Company~~the roles of ~~accounts~~Chief ~~for~~Executive ~~the~~Officer, ~~lease~~Chief Financial Officer and ~~non-lease~~Treasurer ~~components~~of the Company, David Edwin Evans resigned from the role of ~~its~~Chief ~~leases~~Operation Officer asof athe ~~single~~Company, ~~lease~~Liao ~~component.~~Lin ~~Lease~~resigned ~~expense~~from isthe ~~recognized~~role onof aChief ~~straight-line~~Sales Officer of the Company, Jaya C Rajamanickam resigned from the role ~~basis~~of ~~over~~President of the ~~lease~~Company ~~term~~while Feliana Binti Johny resigned from the role of Secretary of the Company.

On ~~August~~ 1,April ~~2020~~7, ~~the Company entered into an Inoculation Harvesting and Acquisition Agreement (the “Acquisition Agreement”)~~2021, to ~~transfer the farmland tenancy agreement to Dadvance Agarwood Solutions Sdn~~Mr. ~~Bhd.~~Gary ~~After~~Bartholomew ~~August 1, 2020, the Company~~ was ~~no longer~~appointed ~~liable~~as ~~or responsible for~~ the ~~farmland~~Director, ~~tenancy~~Chief ~~agreement~~Executive ~~with~~Officer, ~~Halaman~~Chief ~~Girang~~Financial ~~Sdn.~~Officer, ~~Bhd. On August 1~~President, ~~2020~~Secretary, ~~the~~Treasurer ~~operating lease right-~~of~~-use~~ ~~(“ROU”) assets and liabilities were off-set due to~~ the ~~transfer of ownership of the lease agreement~~Company.

~~Lease expenses~~Results ~~were~~of ~~$2,479 during the nine months ended September 30, 2020, and $2,177 incurred during the nine months ended September 30, 2019.~~Operation

9.For ~~STOCKHOLDERS’~~the ~~EQUITY~~three months ended March 31, 2021 and 2020

~~As of September 30, 2020, and December 31, 2019, there were 141,990,387 and 141,990,387 shares of common stock issued and outstanding respectively.~~13

~~There were no stock options, warrants or other potentially dilutive securities outstanding as of September 30, 2020.~~Revenues

~~F-11~~We have not generated any revenue for the three months ended March 31, 2021 and 2020.

~~ITEM 2.~~General ~~MANAGEMENT’S~~and ~~DISCUSSION~~administrative ~~AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS~~expenses

~~The information~~We ~~contained~~incurred ina ~~this~~total ~~quarter~~of ~~report~~$19,021 onand ~~Form~~$47,180 ~~10-Q~~general and isadministrative ~~intended~~expenses toduring ~~update~~ the ~~information~~three ~~contained~~months inended ~~our Form 10-K dated~~ March ~~30, 2020, for the year ended December~~ 31, ~~2019~~2021 and ~~presumes~~2020 ~~that~~respectively. ~~readers~~The ~~have~~general ~~access to,~~ and ~~will~~administrative ~~have read, the “Management’s~~expenses ~~Discussion~~are ~~and~~mainly ~~Analysis~~comprised of ~~Financial~~Form ~~Condition~~10-Q ~~and~~review ~~Results~~fee, ofconsulting ~~Operations”~~fee, ~~and~~legal ~~other~~fee, ~~information~~transfer ~~contained~~agent infee ~~such~~and ~~Form~~Edgar ~~10-K~~filing fee. The ~~following~~decrease ~~discussion~~of general and ~~analysis~~administrative ~~also~~expenses ~~should~~is bedue ~~read together with our financial statements and the notes~~ to ~~the~~decrease ~~financial statements included elsewhere~~ in ~~this~~salary ~~Form 10-Q~~payout.

~~The following~~Net ~~discussion~~income ~~contains~~/ certain statements that may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements appear in a number of places in this Report, including, without limitation, “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” These statements are not guarantees of future performance and involve risks, uncertainties and requirements that are difficult to predict or are beyond our control. Forward-looking statements speak only as of the date of this quarterly report. You should not put undue reliance on any forward-looking statements. We strongly encourage investors to carefully read the factors described in our Form 10-K dated March 30, 2020, in the section entitled “Risk Factors” for a description of certain risks that could, among other things, cause actual results to differ from these forward-looking statements. We assume no responsibility to update the forward-looking statements contained in this transition report on Form 10-Q. The following should also be read in conjunction with the unaudited Condensed Consolidated Financial Statements and notes thereto that appear elsewhere in this report.loss

~~Company~~For three months ended March 31, 2021 and 2020, ~~Overview~~we had generated no revenues. We incurred a total net income of $38,071 and net loss of $48,357 for the three months ended March 31, 2021 and 2020 respectively.

~~United Royale~~Loss Holdings Corp. (the “Company”) was incorporated under the laws of the State of Nevada on June 23, 2015. United Royale Holdings Corp., is a developmental stage company that intends to offer planting and cultivation services to land owners in regards to the planting and cultivation of Aquilaria Subintegra & Aquilaria Sinensis trees. The company also intend to provide services relating to the extraction of Agarwood (Agarwood is extracted from ~~those~~discontinued ~~tree, about 10-15% wood of the tree can become Agarwood) from such trees, through the process of “fungal inoculation.”~~operations

WeFor the three months ended March 31, 2021, there ~~offer~~was ~~planting~~a ~~and~~gain ~~cultivation~~of ~~services~~$65,154 toon ~~land~~the ~~owners~~disposal inof ~~regards~~subsidiaries due to the ~~planting~~deficit of the disposed subsidiaries and ~~cultivation~~a loss of ~~Aquilaria~~$8,062 ~~Subintegra~~on &the discontinued ~~Aquilaria~~operation. ~~Sinensis~~For ~~trees.~~the Wethree ~~also~~months ~~intend~~ended toMarch ~~provide~~31, ~~services~~2020, ~~relating~~loss tofrom ~~the~~discontinued ~~extraction~~operations of ~~Agarwood~~$1,177 ~~from~~consisted ~~such~~of ~~trees~~the ~~through~~results aof operations ~~process~~of ~~known~~the asdisposed ~~“inoculation~~subsidiaries.”

~~On February~~Liquidity ~~1, 2018, the majority of the directors~~ and ~~shareholders~~Capital of the Company adopted the resolution to request a name change of the Company from “Bosy Holdings Corp.” to “United Royale Holdings Corp.”. The name change became effective with the State of Nevada on February 5, 2018. FINRA announced on February 14, 2018 that the new name of “United Royale Holdings Corp.” was be effective on February 15, 2018, and the new ticker symbol of “URYL” was effective on February 15, 2018.Resources

~~On March~~Cash ~~30,~~Used ~~2018,~~In ~~Mr.~~Operating Teoh Kooi Sooi resigned from the President of the Company. And Mr. Teoh retained his position of Chief Executive Officer, treasurer, and director in the board. The resignation was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. Mr. Teoh Kooi Sooi has been the President of the Company since September 18, 2015.Activities

~~-3-~~For the three months ended March 31, 2021 and 2020, the cash flows used in operating activities was $6,852 and $57,058 respectively, consists of net loss and change in assets and liabilities.

~~On March~~Cash ~~30,~~Provided ~~2018,~~By ~~Mr.~~Financing Chen Zheru resigned from the Secretary of the Company. And Mr. Chen will retain his position of director in the board. The resignation was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. Mr. Chen Zheru has been the Secretary of the Company since September 18, 2015.Activities

~~On March~~For ~~30, 2018, Ms. Jaya C Rajamanickam was appointed as~~ the ~~Company’s~~three ~~new~~months ~~President.~~ended ~~Ms.~~March ~~Feliana~~31, ~~Binti~~2021 ~~Johny was appointed~~and as2020, the ~~Company’s~~cash ~~new~~flows ~~Secretary.~~provided ~~The~~by ~~biographies~~financial ~~for~~activities ~~new officers of the Company~~ was ~~filed~~$10,000 inand ~~the~~$2,564 ~~Form~~respectively, ~~8-K~~consists ~~filed~~of ~~with~~advance ~~SEC on~~from ~~March 30, 2018~~directors.

On September 30, 2018, the Company and Mr. CHEN Zheru, representing the sole shareholder of IV Enterprises Development Limited, a Seychelles corporation (“IVED”), entered into a Sale and Purchase Agreement, pursuant to which the Company acquired 100% (one hundred percent) of the shareholding of IVED. IVED provides tree nurseries, including planting, cultivation and inoculation services through its whollyOff-~~owned~~balance ~~subsidiary,~~Sheet ~~Oudh Tech Sdn Bhd, in Malaysia. The acquisition is completed on September 30, 2018.~~Arrangements

~~On October~~We ~~22,~~have ~~2018,~~no ~~Mr.~~significant ~~David~~off-balance ~~Edwin~~sheet ~~Evans~~arrangements that ~~was~~have ~~appointed~~or asare ~~the~~reasonably ~~Company’s~~likely ~~Chief~~to ~~Operating~~have ~~Officer.~~a ~~Mr.~~current ~~Liao~~or ~~Lin~~future ~~was~~effect ~~appointed as~~on ~~the~~our ~~Company’s~~financial ~~Chief~~condition, ~~Sales~~changes ~~Officer.~~in ~~The~~our ~~biographies~~financial ~~for~~condition, revenues ~~new~~or ~~officers~~expenses, results of ~~the~~operations, ~~Company~~liquidity, ~~was~~capital ~~filed~~expenditures inor ~~the~~capital ~~Form~~resources ~~8-K~~that ~~filed~~are ~~with~~material to our stockholders ~~SEC~~as onof ~~October~~March 2231, ~~2018~~2021.

~~On November~~Contractual 30, 2018, Mr. Chen Zheru resigned from the board of directors with the Company. The resignation was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. Mr. Chen Zheru has been the director of the Company since September 18, 2015. On the same day, Mr. Li Gongming was appointed as the Company’s new member of board of directors.Obligations

~~On December 5, 2018, as a result of a private transaction, 100% shareholding of Bosy Holdings Limited has been transferred from Mr~~Nil. Chen Zheru to Mr. Li Gongming. The consideration paid for the transaction was $50,000. The source of the cash consideration for the transaction was personal funds of the Purchaser. Bosy Holdings Limited, a limited liability company incorporated in Seychelles, holds 78,415,100 shares of United Royale Holdings Corp. The Transaction resulted in the Purchaser acquiring a total of 55.235% of the issued and outstanding share capital of the Company on a fully-diluted basis, which caused a change in control of the Company. And Mr. Li owns 6,000,000 shares of the Company as of December 7, 2018, which constitutes a total shareholding of 59.461% of the Company.

~~On April~~Item 1,3 ~~2019,~~Quantitative ~~the~~and ~~Company~~Qualitative ~~entered into a six-year tenancy agreement with Halaman Girang Sdn Bhd, the landlord of the farmland,~~Disclosures ~~for~~About ~~renting~~Market ~~Lot 4316, Batu 20, Jalan Segamat, 84900, Tangkak, Johor, Malaysia~~Risk. ~~The monthly rental payment is MYR1,500, equivalent to around $363. The tenancy period is valid from April 1, 2019 to March 31, 2025.~~

~~On April~~As 1,a ~~2019,~~“smaller ~~the~~reporting ~~Company~~company” ~~entered~~as defined ~~into~~by anItem ~~agarwood~~10 ~~management~~of ~~agreement~~Regulation ~~with~~S-K, ~~Mr. Simone Yap Xin Wei for providing agarwood plantation management and farming operations in~~ the ~~farmland.~~Company ~~The agreement~~ is ~~valid~~not ~~from~~required ~~April 1, 2019~~ to ~~March~~provide ~~31,~~information ~~2020,~~required ~~with~~by ~~monthly~~this ~~service fee of MYR2,640, equivalent to $639~~Item. ~~Nevertheless the agreement was expired, we still work with Mr. Simon Yap Xin Wei currently for managing the agarwood plantation.~~

~~On June 12, 2019, Mr. Soh Khay Wee was appointed as the Company’s Director. The biographies for new officers of the Company was filed in the Form 8-K filed with SEC on June 12, 2019.~~14

~~Due to~~Item the Coronavirus outbreak since December, 2019, Malaysia government declared a Movement Control Order from March 18, 2020 to December 31, 2020. The temporary close down does not have much impact on our current operation, because currently we are in the plantation progress of Aquilaria Subintegra trees and we expect the harvest will take place within future 4 ~~years’~~Controls ~~time. At this moment, the trees are located at Johor, Malaysia, with sufficient rainfall~~ and ~~sunlight for growing~~Procedures. ~~Once the Movement Control Order is expired or not extended, we will collaborate with our service provider to performance the maintenance work of the farmland.~~

~~-4-~~Evaluation of Disclosure Controls and Procedures:

~~Results~~We carried out an evaluation of the effectiveness of ~~Operation~~the design and operation of our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) as of March 31, 2021. This evaluation was carried out under the supervision and with the participation of our Chief Executive Officer and our Chief Operations Officer. Based upon that evaluation, our Chief Executive Officer and Chief Operations Officer concluded that, as of March 31, 2021, our disclosure controls and procedures were not effective due to the presence of material weaknesses in internal control over financial reporting.

~~For~~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 ~~three~~company’s ~~and~~annual ~~nine~~or ~~months~~interim ~~ended~~financial ~~September~~statements 30will not be prevented or detected on a timely basis. Management has identified the following material weaknesses which have caused management to conclude that, ~~2020~~as of March 31, 2021 our disclosure controls and ~~2019~~procedures were not effective: (i) inadequate segregation of duties and effective risk assessment; and (ii) insufficient written policies and procedures for accounting and financial reporting with respect to the requirements and application of both US GAAP and SEC guidelines.

~~Revenues~~Changes in Internal Control over Financial Reporting:

~~We have~~There ~~not~~were ~~generated~~no ~~any~~changes ~~revenue~~in ~~for~~our internal control over financial reporting during the ~~three~~quarter ~~and~~ending ~~nine~~March ~~months~~31, ~~ended~~2021, ~~September~~that 30have materially affected, ~~2020~~or ~~and~~are ~~2019~~reasonably likely to materially affect, our internal control over financial reporting.

~~General and administrative expenses~~15

~~We incurred~~PART aII ~~total~~— ofOTHER $18,106 and $90,317 general and administrative expenses during the three and nine months ended September 30, 2020, while we incurred a total of $67,730 and $184,824 general and administrative expenses during the three and nine months ended September 30, 2019 respectively. The general and administrative expenses are mainly comprised of salary, Form 10-Q review fee, consulting fee, legal fee, transfer agent fee and Edgar Filing fee. The decrease of general and administrative expenses is due to decrease in salary expense and consulting fee.INFORMATION

~~Net loss~~Item 1. Legal Proceedings

~~For the~~We ~~three~~know ~~and~~of ~~nine~~no ~~months~~materials, ~~ended~~active ~~September~~or ~~30,~~pending ~~2020~~legal proceedings ~~and~~against ~~2019~~us, wenor ~~had~~are ~~generated~~we noinvolved ~~revenues.~~as Wea ~~incurred~~plaintiff ain ~~total~~any ~~net~~material ~~loss~~proceedings ofor ~~$18,106 and~~pending ~~$90,317~~litigation. ~~for~~There ~~the~~are ~~three~~no ~~and~~proceedings in ~~nine~~which ~~months~~any ~~ended~~of ~~September~~our 30directors, ~~2020,~~officers ~~while~~or weaffiliates, ~~total~~or ~~net~~any ~~loss~~beneficial ofshareholder ~~$67,729~~are ~~and~~an ~~$184,475~~adverse ~~for~~party ~~the~~or ~~three and~~has ~~nine~~a ~~months~~material ~~ended~~interest ~~September~~adverse to ~~30, 2019 respectively~~us.

~~Liquidity~~ Item 2. Unregistered Sales of Equity Securities and ~~Capital~~Use ~~Resources~~of Proceeds

~~Cash Used In Operating Activities~~None.

~~For the~~Item ~~nine~~3. ~~months~~Defaults ~~ended~~Upon ~~September~~Senior ~~30, 2020 and 2019, the cash flows used in operating activities was $85,956 and $204,365 respectively, consists of net loss and change in assets and liabilities.~~Securities

~~Cash Used In Investing Activities~~None.

~~For the~~Item ~~nine months ended September 30, 2020 and 2019, the cash flows used in investing activities was $~~4~~,548~~. ~~and~~Mine ~~$8,076~~Safety ~~respectively, consists of accumulation of cost of biological assets.~~Disclosures

~~Cash Provided~~Not ~~By Financing Activities~~applicable.

~~For the~~Item ~~nine~~5. ~~months~~Other ~~ended September 30, 2020 and 2019, the cash flows provided by financial activities was $34,557 and $12,734 respectively, consists of advance from directors~~Information.

~~Off-balance Sheet Arrangements~~None.

~~We have~~ITEM no significant off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in our financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to our stockholders as of September 30, 20206. Exhibits

Contractual Obligations

31.1		Rule 13(a)-14(a)/15(d)-14(a) Certification of principal executive officer

32.1		Section 1350 Certification of principal executive officer

~~After August 1, 2020, the Company has no other contractual obligation after transfer the ownership of the farmland tenancy agreement to Dadvance Agarwood Solutions Sdn. Bhd.~~16

~~-5-~~SIGNATURES

~~Item~~Pursuant to the requirements of the Securities 3Exchange ~~Quantitative~~Act ~~and~~of ~~Qualitative~~1934, ~~Disclosures~~the ~~About~~registrant ~~Market~~has ~~Risk~~duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

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.

	UNITED ROYALE HOLDINGS CORP.
	(Name of Registrant)

Date: May 24, 2021

	By:	*/s/ Gary Bartholomew*
	Title:	Chief Executive Officer, Treasurer, Director (Principal Executive Officer, Principal Financial Officer, Principal Accounting Officer)

~~Item 4 Controls and Procedures.~~17

Evaluation of Disclosure Controls and Procedures:

We carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) as of September 30, 2020. This evaluation was carried out under the supervision and with the participation of our Chief Executive Officer and our Chief Operations Officer. Based upon that evaluation, our Chief Executive Officer and Chief Operations Officer concluded that, as of September 30, 2020, our disclosure controls and procedures were not effective due to the presence of material weaknesses in internal control over financial reporting.

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. Management has identified the following material weaknesses which have caused management to conclude that, as of September 30, 2020, our disclosure controls and procedures were not effective: (i) inadequate segregation of duties and effective risk assessment; and (ii) insufficient written policies and procedures for accounting and financial reporting with respect to the requirements and application of both US GAAP and SEC guidelines.

Changes in Internal Control over Financial Reporting:

There were no changes in our internal control over financial reporting during the quarter ending September 30, 2020, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

-6-

PART II — OTHER INFORMATION

Item 1. Legal Proceedings

We know of no materials, active or pending legal proceedings against us, nor are we involved as a plaintiff in any material proceedings or pending litigation. There are no proceedings in which any of our directors, officers or affiliates, or any beneficial shareholder are an adverse party or has a material interest adverse to us.

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

None.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures

Not applicable.

Item 5. Other Information.

None.

ITEM 6. Exhibits

31.1	Rule 13(a)-14(a)/15(d)-14(a) Certification of principal executive officer
32.1	Section 1350 Certification of principal executive officer

-7-

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.

	UNITED ROYALE HOLDINGS CORP.
	(Name of Registrant)
Date: November 13, 2020
	By:	/s/ Teoh Kooi Sooi
	Title:	Chief Executive Officer, Treasurer, Director (Principal Executive Officer, Principal Financial Officer, Principal Accounting Officer)

-8-

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