Form 10-Q Leader Hill Corp For: Feb 28

CONDENSED
CONSOLIDATED BALANCE SHEETS

See
accompanying notes to the unaudited condensed consolidated financial statements.

(Unaudited)

See
accompanying notes to the unaudited condensed consolidated financial statements.

EQUITY
AS OF FEBRUARY 28, 2021

(Currency
expressed in United States Dollars (“US$”), except

for
number of shares)

See
accompanying notes to consolidated financial statements

(Unaudited)

See
accompanying notes to the unaudited condensed consolidated financial statements.

NOTES
TO FINANCIAL STATEMENTS

FOR
THE THREE MONTHS ENDED FEBRUARY 28, 2021 AND FEBRUARY 29, 2020 (UNAUDITED)

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

1. ORGANIZATION AND BUSINESS BACKGROUND

Leader
Hill Corporation, a Nevada corporation (“the Company”), was incorporated under the laws of the State of Nevada
on August 21, 2017.

We
are an early stage business consulting company that intends to assist start-up to midsize companies in the East Asia region,
with a focus on mainland China and Hong Kong, to operate their businesses more cost effectively through our multifaceted
consulting services.

The
Company’s executive office is located at Room 0701, Unit 2, Building 11, Shui’an Xindu, Coastal Industrial Base, Yingkou
City, Liaoning Province, 115000, China.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis
of presentation

The
financial statements for Leader Hill Corporation are prepared in accordance with accounting principles generally accepted in the United
States of America (“US GAAP”). The Company has adopted November 30 as its fiscal year end.

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 sheets, and the reported
revenue and expenses during the periods reported. Actual results may differ from these estimates.

Revenue
from services

The
Company adopted Accounting Standards Codification (“ASC”) 606. ASC 606, Revenue from Contracts with Customers, establishes
principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity’s
contracts to provide goods or services to customers. The core principle requires an entity to recognize revenue to depict the transfer
of goods or services to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange
for those goods or services recognized as performance obligations are satisfied.

The
Company has assessed the impact of the guidance by performing the following five steps analysis:

Step
1: Identify the contract

Step
2: Identify the performance obligations

Step
3: Determine the transaction price

Step
4: Allocate the transaction price

Step
5: Recognize revenue

Based
on the assessment, the Company concluded that there was no change to the timing and pattern of revenue recognition for its current revenue
streams in scope of Topic 606 and therefore there were no material changes to the Company’s consolidated financial statements upon
adoption of ASC 606.

Revenue
is measured at the fair value of the consideration received or receivable, net of discounts and taxes applicable to the revenue.

Revenue
from supplies of consulting services is recognized when title and risk of loss are transferred and there are no continuing obligations
to the customer. Title and the risks and rewards of ownership transfer to and accepted by the customer when the services are collected
by the customer at the Company’s office. Revenue is recorded net of sales discounts, returns, allowances, and other adjustments
that are based upon management’s best estimates and historical experience and are provided for in the same period as the related
revenues are recorded. Based on limited operating history, management estimates that there was no sales return for the period reported.

The
Company derives its revenue from direct sales to individuals and business companies. Generally, the Company recognizes revenue when services
are sold and accepted by the customers and there are no continuing obligations to the customer.

General
and administrative expenses

For
the three months ended February 28, 2021, the company has incurred general and administrative expenses of $4,935, which consist of mainly
financial statement review, filing and transfer agent fee.

For
the three months ended February 29, 2020, the company has incurred general and administrative expenses of $5,830, which consist of mainly
financial statement review, filing and transfer agent fee.

Cash
and cash equivalents

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.

The
company has a cash and cash equivalents of $512 and $512 as of February 28, 2021 and November 30, 2020 respectively.

Accounts
receivable

Accounts
receivable are recorded at the invoiced amount less an allowance for any uncollectible accounts and do not bear interest, which are due
on demand. Management reviews the adequacy of the allowance for doubtful accounts on an ongoing basis, using historical collection trends
and aging of receivables. Management also periodically evaluates individual customer’s financial condition, credit history, and
the current economic conditions to make adjustments in the allowance when it is considered necessary. Account balances are charged off
against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote.

Plant
and equipment

Plant
and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated
on the straight-line basis over the following expected useful lives from the date on which they become fully operational:

Expenditures
for maintenance and repairs are expensed as incurred. The gain or loss on the disposal of plant and equipment is the difference between
the net sales proceeds and the carrying amount of the relevant assets and is recognized in the statement of operations.

The
company has incurred depreciation expenses of $135 and $135 for the three months ended February 28, 2021 and February 29, 2020 respectively.

Net
income/(loss) per share

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

Related
parties

Parties,
which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control
the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also
considered to be related if they are subject to common control or common significant influence.

Fair
value of financial instruments:

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

The
Company also 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:

Level
1: Observable inputs such as quoted prices in active markets;

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

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

Recent
accounting pronouncements

In
June 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses (Topic 326), Measurement of Credit Losses on Financial
Statements. This ASU requires a financial asset (or group of financial assets) measured at amortized cost basis to be presented at the
net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost
basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. This
Accounting Standards Update affects entities holding financial assets and net investment in leases that are not accounted for at fair
value through net income. The amendments affect loans, debt securities, trade receivables, net investments in leases, off balance sheet
credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual rights
to receive cash. For smaller public business entities, the amendments in this Update are effective for fiscal years beginning after January
1, 2023, including interim periods within those fiscal years. All entities may adopt the amendments in this Update through a cumulative-effect
adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (that is, a modified-retrospective
approach). The Company is in the process of evaluating the impact of the adoption of this pronouncement on its consolidated financial
statements.

The
Company reviews new accounting standards as issued. Management has not identified any other new standards that it believes will have
a significant impact on the Company’s financial statements.

3.
GOING CONCERN UNCERTAINTIES

The
accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The company having accumulated
deficit of $113,949 and $109,014 as of February 28, 2021 and November 30, 2020 respectively. For three months ended February 28, 2021
and February 29, 2020, the company has net loss of $4,935 and $5,830 respectively.

While
the Company is attempting to generate revenues, the Company’s cash position may not be significant enough to support the Company’s
daily operations. While the Company believes in the viability of its strategy and in its ability to raise additional funds, there can
be no assurances to that effect. The Company’s ability to continue as a going concern is dependent upon its ability to achieve
profitable operations or obtain adequate financing.

These
and other factors raise substantial doubt about the Company’s ability to continue as a going concern within one year after the
date that financial statements are issued. These financial statements do not include any adjustments to reflect the possible future effects
on the recoverability and classification of assets or the amounts and classification of liabilities that may result in the Company not
being able to continue as a going concern.

4.
AMOUNT DUE TO A DIRECTOR

As
of February 28, 2021, and November 30, 2020, the company has no loan from sole director.

Currently,
our office is provided by our director, Liu Muzhen, without charge.

Our
director, Liu Muzhen, has not been compensated for the services.

5.
PREPAYMENT

As
of February 28, 2021, the company has a prepayment of $1,101, of which included prepaid Edgar filing fee and company renewal agent fee.

As
of November 30, 2020, the Company has a prepayment of $1,101, of which included prepaid Edgar filing fee and company renewal agent fee.

6.
PROPERTY AND EQUIPMENT, NET

Depreciation,
classified as operating expenses, was $135 and $135 respectively for three months ended February 28, 2021 and February 29, 2020.

7.
ACCRUED EXPENSES

As
of February 28, 2021 and November 30, 2020, the company has an outstanding accrued expense as following:

8.
CONCENTRATIONS OF RISK

Since
the company has not generated any revenue nor incurring any cost of sales for the three months ended February 28, 2021 and February 29,
2020, the company has no concentration of risk on customer or supplier.

9.
COMMON STOCK

On
August 21, 2017, the Company issued 4,000,000 shares of restricted common stock, each with a par value of $0.001 per share, to Mr. Seah
for initial working capital of $4,000.

From
June 1, 2018 to August 31, 2018, the Company sold a total of 825,000 initial public offering shares to 33 shareholders, all of which
reside in China, Hong Kong and Malaysia, at a price of $0.04 per share. The total proceeds to the Company amounted to a total of $33,000.
The proceeds will be used as working capital.

On
December 17, 2020, as a result of a private transactions, 4,000,000 shares of common stock, $0.001 par value per share (the “Shares”)
of the “Company were transferred from Chia Yee Seah to certain purchasers
(collectively, the “Purchasers”). As a result, the Purchasers became the holders of approximately 82.9{14cc2b5881a050199a960a1a3483042b446231310e72f0dc471a7a1eddd6b0c3} of the issued and
outstanding share capital of the Company and our new CEO, Mr. Liu Muzhen held 2,700,000 common shares or 55.95{14cc2b5881a050199a960a1a3483042b446231310e72f0dc471a7a1eddd6b0c3} shareholding of the Company.
The consideration paid for the Shares was $287,000. The source of the cash consideration for the Shares was personal funds of the Purchasers.
In connection with the transaction, Chia Yee Seah released the Company from all debts owed to him.

As
of February 28, 2021, we have authorized capital stock consisting of 75,000,000 shares of common stock, $0.001 par value per share of
which 4,825,000 shares of common stock were issued and outstanding.

10.
SUBSEQUENT EVENTS

In
accordance with ASC Topic 855, “Subsequent Events”, which establishes general standards of accounting for and disclosure
of events that occur after the balance sheet date but before financial statements are issued, the Company has evaluated all events or
transactions that occurred after February 28, 2021 up through the date the Company issued the financial statements.

The
information contained in this Form 10-Q is intended to update the information contained in our Annual Report on Form 10-K for the year
ended November 30, 2020 and presumes that readers have access to, and will have read, the “Management’s Discussion and Analysis
of Financial Condition and Results of Operations” and other information contained in such Form 10-K. The following discussion and
analysis also should be read together with our financial statements and the notes to the financial statements included elsewhere in this
Form 10-Q.

The
following discussion 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 S-1 Amendment No. 2, dated June 15, 2018, 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.

Company
Overview

Leader
Hill Corporation, a Nevada corporation (“the Company”), was incorporated under the laws of the State of Nevada
on August 21, 2017.

The
Company’s executive office is located at Room 0701, Unit 2, Building 11, Shui’an Xindu, Coastal Industrial Base, Yingkou
City, Liaoning Province, 115000, China.

We are an early stage business consulting company that intends to assist start-up to
midsize companies in the East Asia region, with a focus on mainland China and Hong Kong, to operate their businesses more cost effectively
through our multifaceted consulting services. Additionally, it should be noted that the Company has not yet generated any revenue, and
we currently operate at a net loss.

On
December 17, 2020, the existing director and officer resigned immediately. Accordingly, Chia Yee Seah, serving as a director and an officer,
ceased to be the Company’s Chief Executive Officer, Chief Financial Officer, President, Treasurer, Secretary and a Director. At
the effective date of the transfer, Liu Muzhen consented to act as the new Chief Executive Officer, Chief Financial Officer, President,
Treasurer, Secretary and Chairman of the Board of Directors of the Company.

Mr.
Liu Muzhen (“Mr. Liu”), age 33, is currently studying a Master of Business Administration in the University of New Buckingham,
while his bachelor’s degree was obtained in Capital Normal University, with major in software engineering.

From
August 2012 to December 2016, Mr. Liu was a general manager of Shanghai Guangya Network Technology Company Limited (“Guangya”).
Guangya had two major business steams, first one was business of network technology research and development, with its in-house Software-as-a-service
as solution to its clients. The second one was sales and distribution of electronic appliances, communication tools and Audio-visual
equipment. Mr. Liu was responsible to be the oversight of the whole company, business development, reporting of financial result to shareholders.

From
January 2017 to the present, Mr. Liu has been a general manager of Big Player (Shenzhen) Media Company Limited (“Big Player”).
Big Player is engaging in not only cultural campaign planning, corporate branding, and advertisement, but also website, online game and
application development. Mr. Liu is responsible for the online game and application development, strategic development of the Company
and review of the strategy implementation.

Liu
Muzhen has been appointed as a Chief Executive Officer, Chief Financial Officer, President, Treasurer, Secretary and Chairman of Board
of Directors of the Company since December 17, 2020.

Results
of Operation

For
the three months period ended February 28, 2021 and November 30, 2020

Our
cash and cash equivalents balance were $512 and $512 as of February 28, 2021 and November 30, 2020 respectively.

Revenues
and cost of revenue

The
company has not generated any revenue nor incurring and cost of sale for the three months period ended February 28, 2021 and February
29, 2020.

General
and administrative expenses

For
the three months ended February 28, 2021, the company has incurred general and administrative expenses of $4,935, which consist of mainly
financial statement review, filing and transfer agent fee.

For
the three months ended February 29, 2020, the company has incurred general and administrative expenses of $5,830, which consist of mainly
financial statement review, filing and transfer agent fee.

Net
loss

Our
net loss for the three-month ended February 28, 2021 and February 29, 2020 were $4,935 and $5,830 respectively.

Liquidity
and Capital Resources

Cash
Used in Operating Activities

For
the three-month period ended February 28, 2021, the company has not consumed any cash in operating activity.

For
the three-month period ended February 29, 2020, the company has consumed $12 in operating activity, of which mainly consist of incurring
an operating net loss and decrease in accrued expenses contra by loan from director.

Cash
Used in Investing Activities

The
company has not consumed nor generated any cash from investing activity for the three-month period ended February 28, 2021 and February
29, 2020.

Cash
Provided by Financing Activities

The
company has not consumed nor generated any cash from financing activity for the three-month period ended February 28, 2021 and February
29, 2020.

Off-balance
Sheet Arrangements

We
have 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 February 28, 2021.

Contractual
Obligations

As
of February 28, 2021, the Company has no contractual obligations involved.

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.

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 February 29, 2020. This evaluation was carried out under the supervision and with the participation
of our Chief Executive Officer and our Chief Financial Officer. Based upon that evaluation, our Chief Executive Officer and Chief Financial
Officer concluded that, as of February 29, 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 February 29, 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 February 29, 2020, that have materially affected,
or are reasonably likely to materially affect, our internal control over financial reporting.

From
time to time, we may become party to litigation or other legal proceedings that we consider to be a part of the ordinary course of our
business. We are not currently involved in legal proceedings that could reasonably be expected to have a material adverse effect on our
business, prospects, financial condition or results of operations. We may become involved in material legal proceedings in the future.

None.

None.

Not
applicable.

None.

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.

EXHIBIT
31.1

CERTIFICATION

I,
Liu Muzhen, certify that:

1.
I have reviewed this quarterly report on Form 10-Q of LEADER HILL CORPORATION (the “Company”) for the quarter
ended February 28, 2021;

2.
Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material
fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with
respect to the period covered by this report;

3.
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all
material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods
presented in this report;

4.
The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and
procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in
Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

5.
The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over
financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or
persons performing the equivalent functions):

EXHIBIT
32.1

CERTIFICATION
PURSUANT TO 18 U.S.C. SECTION 1350,

AS
ADOPTED PURSUANT TO

SECTION
906 OF THE SARBANES-OXLEY ACT OF 2002

In
connection with the Quarterly Report of LEADER HILL CORPORATION (the “Company”) on Form 10-Q for the period
ended February 28, 2021 as filed with the Securities and Exchange Commission on the date hereof (the “Report”),
The undersigned hereby certifies, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act
of 2002, that, to the best of my knowledge and belief:

A
signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting
the signature that appears in typed form within the electronic version of this written statement has been provided to the Company and
will be retained by the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff
upon request.