Item 1B. Unresolved Staff Comments.

Not applicable to smaller reporting companies.

Item 2.  Description of Property

 The Company has signed two year lease agreement with Ismail Kaya, Istanbul, Turkey. Rent started on January 1, 2015.  The premise allows us to place up to 4 paper cup forming machines.  According to the agreement we lease 50 square meters of premises on the first floor of the building at Perpa Ticaret  Merkezi, B Blok, Kat: 9, No: 1524,  Istanbul.  The agreed annual rental fee is $6,000 for the first year of lease and will be reduced to $5,400 for the second year of lease.  The agreement provides for a lease extension for an additional one year term upon written notice from the Company.

Item 3.  Legal Proceedings

Item 4.  Mine Safety Disclosures

Not applicable to our Company.

6

PART II

Item 5. Market for Common Equity and Related Stockholder Matters      

Market Information

There is a limited public market for our common shares.  Our common shares are not quoted on the OTC Bulletin Board at this time.  Trading in stocks quoted on the OTC Bulletin Board is often thin and is characterized by wide fluctuations in trading prices due to many factors that may be unrelated to a company’s operations or business prospects.  We cannot assure you that there will be a market in the future for our common stock.

OTC Bulletin Board securities are not listed or traded on the floor of an organized national or regional stock exchange.  Instead, OTC Bulletin Board securities transactions are conducted through a telephone and computer network connecting dealers in stocks.  OTC Bulletin Board issuers are traditionally smaller companies that do not meet the financial and other listing requirements of a regional or national stock exchange.

As of July 31, 2015, no shares of our common stock have traded

Number of Holders

As of July 31, 2015, the 6,040,000 issued and outstanding shares of common stock were held by a total of 31 shareholder of record.

Dividends

No cash dividends were paid on our shares of common stock during the fiscal year ended July 31, 2015 or during the period from February 4, 2014 (inception) to July 31, 2014.  We have not paid any cash dividends since February 4, 2014 (inception) and do not foresee declaring any cash dividends on our common stock in the foreseeable future. 

Recent Sales of Unregistered Securities

The Company has 75,000,000, $0.001 par value shares of common stock authorized.

On June 5, 2014, the Company issued 3,500,000 shares of common stock to a director for cash proceeds of $3,500 at $0.001 per share.

From August 1, 2014 to July 31, 2015 Company has issued 2,540,000 shares of common stock for cash proceeds of $25,400 at $0.001 per share.

There were 6,040,000 shares of common stock issued and outstanding as of July 31, 2015.

Purchase of our Equity Securities by Officers and Directors

On June 5, 2014, the Company offered and sold 3,500,000 restricted shares of common stock to our president and director, Badria Alhussin, for a purchase price of $0.001 per share, for aggregate offering proceeds of $3,500, pursuant to Section 4(2) of the Securities Act of 1933 as she is a sophisticated investor and is in possession of all material information relating to us. Further, no commissions were paid to anyone in connection with the sale of these shares and general solicitation was not made to anyone.

Other Stockholder Matters

None.

Item 6. Selected Financial Data                                       

Not applicable to smaller reporting companies.

7

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations

The following discussion should be read in conjunction with our financial statements, including the notes thereto, appearing elsewhere in this annual report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs.  Our actual results could differ materially from those discussed in the forward-looking statements.   Our audited financial statements are stated in United States Dollars and are prepared in accordance with United States Generally Accepted Accounting Principles.

RESULTS OF OPERATIONS

We have incurred recurring losses to date. Our financial statements have been prepared assuming that we will continue as a going concern and, accordingly, do not include adjustments relating to the recoverability and realization of assets and classification of liabilities that might be necessary should we be unable to continue in operation.

We expect we will require additional capital to meet our long term operating requirements. We expect to raise additional capital through, among other things, the sale of equity or debt securities.

FISCAL YEAR ENDED JULY 31, 2015 COMPARED TO THE PERIOD FROM (INCEPTION) FEBRUARY 4, 2014 TO JULY 31, 2014.

Revenue

We recognized revenue of $4,235 for the year ended July 31, 2015, compared to $0 the period from February 4, 2014 (Inception) to July 31, 2014. We had not commenced operations during the period from February 4, 2014 (inception) to July 31, 2014. Revenues in 2015 related to the sales to two customers PAUL CAFETERIA and PANDA DIS TICARET LTD. We expect to generate further, increased revenue as we expand our business operations

Cost of Goods Sold

The raw material necessary for all paper cups production is special laminated paper that comes in rolls. Our cost of goods sold was $600 for the year ended July 31, 2015 compared to $0 the period from February 4, 2014 (Inception) to July 31, 2014.

Gross Profit

Our gross profit was $3,635 for the year ended July 31, 2015 compared to $0 the period from February 4, 2014 (Inception) to July 31, 2014.

Operating expenses

Total operating expenses for the for the year ended July 31, 2015 were $33,950 compared to $136 for the period February 4, 2014 (inception) to April 30, 2014. We had not commenced operations during the period from February 4, 2014 (inception) to July 31, 2014.

Our operating expenses consisted of bank service charges $1,271 (2014-$136), accounting fees $7,750 (2014-$0), legal fees $3,950 (2014-$0), transfer agent fees $15,000 (2014-$0), rent $3,500 (2014-$0), amortization $ 938 (2014-$0) and regulatory filings $1,540 (2014-$0). Expenses incurred during the fiscal year ended July 31, 2015 as compared to period ended July 31, 2014 increased primarily due to the increased scale and scope of business operations.  

Net Losses

The net loss for the fiscal year ended July 31, 2015 was $30,315, compared to $136 for the period February 4, 2014 (inception) to July 31, 2014, due to the factors discussed above.

8

Liquidity and Capital Resources

As of July 31, 2015, our total assets were $15,836 comprised of cash $ 5,927, prepaid expenses $1,650, accounts receivable $50, inventory $1,100 and net fixed assets $7,109. Our total liabilities were $17,387 comprised of a loan from our director. As of July 31, 2014, our total assets were $9,171 comprising of cash $1,124 and net fixed assets $8,047. Our total liabilities were $5,807 comprised of a loan from our director.

Shareholders’ equity has decreased from $3,364 as of July 31, 2014 to a deficit of ($1,551) as of July 31, 2015. The decrease in our shareholders’ equity to a shareholders’ deficit was due operating losses we incurred in the period.

The Company has accumulated a deficit of $(30,451) as of July 31, 2015 compare to $136 as of July 31, 2014 and further losses are anticipated in the development of its business. Accordingly, there is substantial doubt about the Company’s ability to continue as a going concern.  

The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and, or, obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with existing cash on hand, sales, loans from directors and, or, the private placement of common stock.  

Because of the Company’s history of losses, its independent auditors, in the reports on the financial statements for the year ended July 31, 2015 and the period from February 4, 2014 (inception) to July 31, 2014, expressed substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate continuation of the Company as a going concern. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that could result from the outcome of this uncertainty.

Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses The Company intends to position itself so that it may be able to raise additional funds through the capital markets. In light of management’s efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern.

Cash Flows from Operating Activities

We have not generated positive cash flows from operating activities. For the fiscal year ended July 31, 2015, net cash flows used in operating activities was $32,177 compared to $136 for the period from February 4, 2014 to July 31, 2014, an increase of $32,041. The increase was primarily due to the increase in operating losses between the two periods

Cash Flows from Investing Activities

We neither used nor generated cash from investing activities for the fiscal year ended July 31, 2015 compare to $8,047 cash used in the amount of $8,047 investing activities during the period from February 4, 2014 (inception) to July 31, 2014. During the period from February 4, 2014 (inception) to July 31, 2014 we purchased a machine to manufacture our paper cups.

Cash Flows from Financing Activities

We have financed our operations primarily from the sale of shares of our common stock and by way of loan from our director. For the fiscal year ended July 31, 2015, net cash from financing activities was $36,980 consisting of proceeds from the sale of share of our common stock of $25,400 and a loan from our director $11,580. By comparison, during the period from February 4, 2014 (inception) to July 31, 2014, net cash provided by financing activities was $9,307 consisting of $3,500 of proceeds from the sale of shares of our common stock and $5,807 by way of a loan from our director.

9

PLAN OF OPERATION AND FUNDING

We expect that working capital requirements will continue to be funded through a combination of our existing funds, sales, loans from a director and further issuances of securities. Our working capital requirements are expected to increase in line with the growth of our business. We have no lines of credit or other bank financing  arrangements. Generally, we have financed operations to date through the proceeds of the private placement of equity, debt instruments, and limited sales. In connection with our business plan, management anticipates additional increases in operating expenses and capital expenditures relating to:  

·

Legal and professional fees

·

Lease expenses

·

Purchase of inventory

·

Purchase of equipment

·

Marketing Campaign

·

Website development

·

Staff wages

We intend to finance these expenses with further issuances of securities, debt issuances and sales. Thereafter, we expect we will need to raise additional capital and generate revenues to meet long-term operating requirements. Additional issuances of equity or convertible debt securities will result in dilution to our current shareholders. Further, such securities might have rights, preferences or privileges senior to our common stock. Additional financing may not be available upon acceptable terms, or at all. If adequate funds are not available or are not available on acceptable terms, we may not be able to take advantage of prospective new business endeavors or opportunities, which could significantly and materially restrict our business operations.

MATERIAL COMMITMENTS

As of the date of this Annual Report, the Company has signed two year lease agreement with Ismail Kaya, Istanbul, Turkey. Rent started on January 1, 2015.  The premise allows us to place up to 4 paper cup forming machines.  According to the agreement we lease 50 square meters of premises on the first floor of the building at Perpa Ticaret  Merkezi, B Blok, Kat: 9, No: 1524,  Istanbul.  The agreed annual rental fee is $6,000 for the first year of lease and will be reduced to $5,400 for the second year of lease.  The agreement provides for a lease extension for an additional one year term upon written notice from the Company.  

OFF-BALANCE SHEET ARRANGEMENTS

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

GOING CONCERN

The Company has generated limited revenues and incurred a loss since Inception (February 4, 2014) resulting in an accumulated deficit of $30,451 as of July 31, 2015 and further losses are anticipated in the development of its business.  Accordingly, there is substantial doubt about the Company’s ability to continue as a going concern.

Because of the Company’s history of losses, its independent auditors, in the reports on the financial statements for the year ended July 31, 2015 and for the period from Inception (February 4, 2014) to July 31, 2014, expressed substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate continuation of the Company as a going concern. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that could result from the outcome of this uncertainty.

SIGNIFCANT ACCOUNTING POLICIES

Accounting Basis

The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (“GAAP” accounting).  The Company has adopted a July 31 fiscal year end.

10

Development Stage Company

The Company is a development  stage  company as defined by section  915-10-20 of the FASB Accounting Standards  Codification and among the additional disclosures required as a development  stage company are that its financial  statements were identified as those of a development  stage company,  and that the statements of operations,  stockholders'  deficit and cash flows disclosed  activity since the date of its inception (February 4, 2014) as a development stage company Although the Company has  recognized  nominal  amounts of revenue,  it is still  devoting substantially  all of its  efforts  on  establishing  the  business.  All losses accumulated since Inception (February 4, 2014) have been considered as part of the Company's development stage activities. Effective June 10, 2014 FASB changed its regulations with respect to Development Stage Entities and these additional disclosures  are no longer required for annual reporting  periods beginning after December  15,  2014  with the  option  for  entities  to early  adopt  these new provisions.  The Company has elected to early  adopt these  provisions  and consequently  these  additional  disclosures  are  not included  in these  financial statements.

Use of Estimates

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

Cash and Cash Equivalents

The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company had $5,927 of cash as of July 31, 2015 compare to $1,124 as of July 31, 2014.

Fair Value of Financial Instruments

ASC 820 "Fair Value Measurements and Disclosures" establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market.

These tiers include:

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

Level 2:  defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and

Level 3:  defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

The carrying value of cash, prepaid expenses, accounts receivable, accounts payable and the Company’s loan from director approximates its fair value due to their short-term maturity.

Inventories

Our inventory consists of raw material necessary for production which is laminated paper that comes in rolls. Because we produce quantities ordered, we do not have any finished goods inventories.   Inventories are stated at the lower of cost or net realizable value. Cost is determined using the first-in, first out (FIFO) method. The Company had $1,100 in inventory as of July 31, 2015 compared to $0 as of July 31, 2014.

Property and Equipment

Property and equipment are stated at cost and depreciated on the straight line method over the estimated life of the asset, which is 5 years.

Income Taxes

Income taxes are computed using the asset and liability method.  Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws.  A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.

11

Revenue Recognition

The Company will recognize revenue in accordance with Accounting Standards Codification No. 605, “Revenue Recognition” ("ASC-605"), ASC-605 requires that four basic criteria must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed and determinable; and (4) collectability is reasonably assured. Determination of criteria (3) and (4) are based on management's judgments regarding the fixed nature of the selling prices of the products delivered and the collectability of those amounts. Provisions for discounts and rebates to customers, estimated returns and allowances, and other adjustments are provided for in the same period the related sales are recorded. The Company will defer any revenue for which the product has not been delivered or is subject to refund until such time that the Company and the customer jointly determine that the product has been delivered or no refund will be required.

Advertising Costs

The Company’s policy regarding advertising is to expense advertising when incurred. The Company did not incur any advertising expenses during the year end July 31, 2015 or the period from February 4, 2014 (inception)  to July 31, 2014.  

Stock-Based Compensation

Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718.  To date, the Company has not adopted a stock option plan and has not granted any stock options.

Basic Income (Loss) Per Share

The Company computes income (loss) per share in accordance with FASB ASC 260, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period.  Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive.

During the year ended July 31, 2015 or the period from February 4, 2014 (inception) to July 31, 2014 there were no potentially dilutive debt or equity instruments issued or outstanding and any such shares would have been excluded from the computation because they would have been anti-dilutive as the Company incurred losses in these periods.

Comprehensive Income

Comprehensive income is defined as all changes in stockholders' equity (deficit), exclusive of transactions with owners, such as capital investments. Comprehensive income includes net income or loss, changes in certain assets and liabilities that are reported directly in equity such as translation adjustments on investments in foreign subsidiaries and unrealized gains (losses) on available-for-sale securities. During the year ended July 31, 2015 and the period from February 4, 2014 (inception) to July 31, 2014  there were no differences between our comprehensive loss and net loss.

Recent Accounting Pronouncements

We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company’s results of operations, financial position or cash flow.

Item 7A. Quantitative and Qualitative Disclosures about Market Risk   

Not applicable to smaller reporting companies.

Item 8. Financial Statements and Supplementary Data   

12

NIMTECH CORP.  

FINANCIAL STATEMENTS

For the Year Ended July 31, 2015 and for the period from February 4, 2014 (Inception) to July 31, 2014

Table of Contents

13

      REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

Board of Directors

Nimtech, Corp.

We have audited the accompanying balance sheets of Nimtech, Corp. as of July 31, 2015 and 2014 the related statement of operations, changes in shareholders’ equity (deficit) and cash flows for the year ended July 31, 2015 and the period from February 4, 2014 (inception) to July 31, 2014. These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Nimtech Corp. as of July 31, 2015 and 2014 and the related statement of operations and cash flows for the year ended July 31, 2015 and the period from February 4, 2014 (inception) to July 31, 2014 in conformity with accounting principles generally accepted in the United States of America.

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the financial statements the Company has reoccurring losses since inception, an accumulated deficit and currently does not have sufficient available funding to fully implement its business plan. These factors raise substantial doubt about its ability to continue as a going concern. Management's plans in regard to these matters are also described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Cutler & Co., LLC

Balance Sheets

The accompanying notes are an integral part of these financial statements

15

NIMTECH CORP.  

Statement of Operations

                                ‘ * denotes a loss of less than $(0.01) per share

The accompanying notes are an integral part of these financial statements

16

NIMTECH CORP.  

Statement of Changes in Stockholders’ Equity (Deficit)

The accompanying notes are an integral part of these financial statements

17

NIMTECH CORP.  

 Statements of Cash flows

The accompanying notes are an integral part of these financial statements

18

NIMTECH CORP.  

Notes to the Audited Financial Statements

For the year ended July 31, 2015 and for the period from February 4, 2014 (inception) to July 31, 2014

NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS

NIMTECH CORP. (“the Company”, “we”, “us” or “our”) was incorporated in the State of Nevada on February 4, 2014. We were formed to manufacture and sell paper cup products in Turkey.  

NOTE 2—GOING CONCERN

The Company has generated limited revenues and incurred a loss since Inception (February 4, 2014) resulting in an accumulated deficit of $30,451 as of July 31, 2015 and further losses are anticipated in the development of its business. Accordingly, there is substantial doubt about the Company’s ability to continue as a going concern.  

The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and, or, obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with existing cash on hand, loans from directors and, or, the  private placement of common stock.  

Because of the Company’s history of losses, its independent auditors, in the reports on the financial statements for the year ended July 31, 2015 and for the period from Inception (February 4, 2014) to July 31, 2014, expressed substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate continuation of the Company as a going concern. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that could result from the outcome of this uncertainty.

Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses The Company intends to position itself so that it may be able to raise additional funds through the capital markets. In light of management’s efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern.

NOTE 3 – SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES

Accounting Basis

The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (“GAAP” accounting).  The Company has adopted a July 31 fiscal year end.

Development Stage Company

The Company is a development  stage  company as defined by section  915-10-20 of the FASB Accounting Standards  Codification and among the additional disclosures required as a development  stage company are that its financial  statements were identified as those of a development  stage company,  and that the statements of operations,  stockholders'  deficit and cash flows disclosed  activity since the date of its inception (February 4, 2014) as a development stage company Although the Company has  recognized  nominal  amounts of revenue,  it is still  devoting substantially  all of its  efforts  on  establishing  the  business.  All losses accumulated since Inception (February 4, 2014) have been considered as part of the Company's development stage activities. Effective June 10, 2014 FASB changed its regulations with respect to Development Stage Entities and these additional disclosures  are no longer required for annual reporting  periods beginning after December  15,  2014  with the  option  for  entities  to early  adopt  these new provisions.  The Company has elected to early  adopt these  provisions  and consequently  these  additional  disclosures  are  not included  in these  financial statements.

19

NIMTECH CORP.  

Notes to the Audited Financial Statements

For the year ended July 31, 2015 and for the period from February 4, 2014 (inception) to July 31, 2014

NOTE 3 – SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (CONTUNUED)

Use of Estimates

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

Cash and Cash Equivalents

The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company had $5,927 of cash as of July 31, 2015 compare to $1,124 as of July 31, 2014.

Fair Value of Financial Instruments

ASC 820 "Fair Value Measurements and Disclosures" establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market.

These tiers include:

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

Level 2:  defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and

Level 3:  defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

The carrying value of cash, prepaid expenses, accounts receivable, accounts payable and the Company’s loan from director approximates its fair value due to their short-term maturity.

Inventories

Our inventory consists of raw material necessary for production which is laminated paper that comes in rolls. Because we produce quantities ordered, we do not have any finished goods inventories.   Inventories are stated at the lower of cost or net realizable value. Cost is determined using the first-in, first out (FIFO) method. The Company had $1,100 in inventory as of July 31, 2015 compare to $0 as of July 31, 2014.

Property and Equipment

Property and equipment are stated at cost and depreciated on the straight line method over the estimated life of the asset, which is 5 years.

Income Taxes

Income taxes are computed using the asset and liability method.  Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws.  A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.

Revenue Recognition

The Company will recognize revenue in accordance with Accounting Standards Codification No. 605, “Revenue Recognition” ("ASC-605"), ASC-605 requires that four basic criteria must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed and determinable; and (4) collectability is reasonably assured. Determination of criteria (3) and (4) are based on management's judgments regarding the fixed nature of the selling prices of the products delivered and the collectability of those amounts. Provisions for discounts and rebates to customers, estimated returns and allowances, and other adjustments are provided for in the same period the related sales are recorded. The Company will defer any revenue for which the product has not been delivered or is subject to refund until such time that the Company and the customer jointly determine that the product has been delivered or no refund will be required.

20

NIMTECH CORP.  

Notes to the Audited Financial Statements

For the year ended July 31, 2015 and for the period from February 4, 2014 (inception) to July 31, 2014

NOTE 3 – SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (CONTINUED)

Advertising Costs

The Company’s policy regarding advertising is to expense advertising when incurred. The Company did not incur any advertising expenses during the year end July 31, 2015 or the period from February 4, 2014 (inception) to July 31, 2014.  

Stock-Based Compensation

Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718.  To date, the Company has not adopted a stock option plan and has not granted any stock options.

Basic Income (Loss) Per Share

The Company computes income (loss) per share in accordance with FASB ASC 260, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period.  Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive.

During the year ended July 31, 2015 or the period from February 4, 2014 (inception)  to July 31, 2014 there were no potentially dilutive debt or equity instruments issued or outstanding and any such shares would have been excluded from the computation because they would have been anti-dilutive as the Company incurred losses in these periods.

Comprehensive Income

Comprehensive income is defined as all changes in stockholders' equity (deficit), exclusive of transactions with owners, such as capital investments. Comprehensive income includes net income or loss, changes in certain assets and liabilities that are reported directly in equity such as translation adjustments on investments in foreign subsidiaries and unrealized gains (losses) on available-for-sale securities. During the year ended July 31, 2015 or the period from February 4, 2014 (inception) to July 31, 2014 there were no differences between our comprehensive loss and net loss.

Recent Accounting Pronouncements

We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company’s results of operations, financial position or cash flow.

NOTE 4 – LOAN FROM DIRECTOR

In support of the Company’s efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by shareholders. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances are considered temporary in nature and have not been formalized by a promissory note.  

During the year ended July 31, 2015, our sole director has loaned to the Company $11,580. The balance outstanding to the sole director as of July 31, 2015 was $17,387 (2014 - $5,807).

The loan is unsecured, non-interest bearing and due on demand.

Our Director is providing her office for our company at no charge.

21

NIMTECH CORP.  

Notes to the Audited Financial Statements

For the year ended July 31, 2015 and for the period from February 4, 2014 (inception) to July 31, 2014

NOTE 5 – COMMON STOCK

The Company has 75,000,000, $0.001 par value shares of common stock authorized.

On June 5, 2014, the Company issued 3,500,000 shares of common stock to a director for cash proceeds of $3,500 at $0.001 per share.

During the year ended July 31, 2015 Company has issued 2,540,000 shares of common stock for cash proceeds of $25,400 at $0.001 per share.

There were 6,040,000 shares of common stock issued and outstanding as of July 31, 2015.

NOTE 6 – COMMITMENTS AND CONTINGENCIES

Contractual commitments

The Company has signed two year lease agreement with Ismail Kaya, Istanbul, Turkey. Rent started on March 1, 2015.  The premise allows us to place up to 4 paper cup forming machines.  According to the agreement we lease 50 square meters of premises on the first floor of the building at Perpa Ticaret  Merkezi, B Blok, Kat: 9, No: 1524,  Istanbul.  The agreed annual rental fee is $6,000 for the first year of lease and will be reduced to $5,400 for the second year of lease.  The agreement provides for a lease extension for an additional one year term upon written notice from the Company.  

Litigation

We were no subject to any legal proceedings during the year ended July 31, 2015 or the period from inception (February 4, 2014) to July 31, 2014 and we know of no material, existing or pending legal proceedings against our Company, nor are we involved as a plaintiff in any material proceeding or pending litigation.  There are no proceedings in which any of our directors, officers or affiliates, or any registered or beneficial shareholder, is an adverse party or has a material interest adverse to our interest.

NOTE 7 – INCOME TAXES

As of July 31, 2015, the Company had net operating loss carry forwards of approximately $30,451 that may be available to reduce future years’ taxable income in varying amounts through 2035. Future tax benefits which arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards.

The provision for Federal income tax consists of the following:

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NIMTECH CORP.  

Notes to the Audited Financial Statements

For the year ended July 31, 2015 and for the period from February 4, 2014 (inception) to July 31, 2014

NOTE 7 – INCOME TAXES (CONTINUED)

The cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows:

Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of approximately $30,451 for Federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur net operating loss carry forwards may be limited as to use in future years.

NOTE 8.  SUBSEQUENT EVENTS

In accordance  with ASC 855-10 the Company has analyzed its operations from July 31, 2015 to the date these financial  statements  were issued and has  determined  that it does not have any  material  subsequent  events  to disclose in these financial statements other than as disclosed above.

Item 9. Changes In and Disagreements with Accountants on Accounting and Financial Disclosure

None

Item 9A(T) Controls and Procedures

Management’s Report on Internal Controls over Financial Disclosure Controls and Procedures

Management is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Exchange Act Rule 13a-15(f)). The Company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with accounting principles generally accepted in the United States of America. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. Under the supervision and with the participation of management, including the Chief Executive Officer and Chief Financial Officer, the Company conducted an evaluation of the effectiveness of the Company’s internal control over financial reporting as of July 31, 2015 using the criteria established in “Internal Control - Integrated Framework” issued by the Committee of Sponsoring Organizations of the Treadway Commission ("COSO").

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A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Company’s annual or interim financial statements will not be prevented or detected on a timely basis. In its assessment of the effectiveness of internal control over financial reporting as of July 31, 2015, the Company determined that there were control deficiencies that constituted material weaknesses, as described below.

1.

We do not have an Audit Committee – While not being legally obligated to have an audit committee, it is the management’s view that such a committee, including a financial expert member, is an utmost important entity level control over the Company’s financial statement. Currently the Board of Directors acts in the capacity of the Audit Committee, and does not include a member that is considered to be independent of management to provide the necessary oversight over management’s activities.

2.

We did not maintain appropriate cash controls – As of July 31, 2015, the Company has not maintained sufficient internal controls over financial reporting for the cash process, including failure to segregate cash handling and accounting functions, and did not require dual signature on the Company’s bank accounts. Alternatively, the effects of poor cash controls were mitigated by the fact that the Company had limited transactions in their bank accounts.

3.

We did not implement appropriate information technology controls – As at July 31, 2015, the Company retains copies of all financial data and material agreements; however there is no formal procedure or evidence of normal backup of the Company’s data or off-site storage of data in the event of theft, misplacement, or loss due to unmitigated factors.

Accordingly, the Company concluded that these control deficiencies resulted in a reasonable possibility that a material misstatement of the annual or interim financial statements will not be prevented or detected on a timely basis by the company’s internal controls.

As a result of the material weaknesses described above, management has concluded that the Company did not maintain effective internal control over financial reporting as of July 31, 2015 based on criteria established in Internal Control- Integrated Framework issued by COSO.

System of Internal Control over Financial Reporting

Although our Company is unable to meet the standards under COSO because of the limited funds available to a company of our size and stage of development, we are committed to improving our financial organization. As funds become available, we will undertake to: (1) create a position to  segregate duties consistent with control objectives, (2) increase our personnel resources and technical accounting expertise within the accounting function (3) appoint one or more outside directors to our board of directors who shall be appointed to the audit committee of our Company resulting in a fully functioning audit committee who will undertake the oversight in the establishment and monitoring of required internal controls and procedures; and (4) prepare and implement sufficient written policies and checklists which will set forth procedures for accounting and financial reporting with respect to the requirements and application of US GAAP and SEC disclosure requirements.

We will continue to monitor and evaluate the effectiveness of our internal controls and procedures and our internal controls over financial reporting on an ongoing basis and are committed to taking further action and implementing additional enhancements or improvements, as necessary and as funds allow.  However, because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that misstatements due to error or fraud will not occur or that all control issues and instances of fraud, if any, within our Company have been detected.  These inherent limitations include the realities that judgments in decision making can be faulty and that breakdowns can occur because of simple error or mistake. The design of any system of controls is based in part on certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions.  Projections of any evaluation of controls effectiveness to future periods are subject to risks.

Changes in Internal Control over Financial Reporting

There has been no change in our internal control over financial reporting identified in connection with our evaluation we conducted of the effectiveness of our internal control over financial reporting as of July 31, 2015, that occurred during our fourth fiscal quarter that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

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This annual report does not include an attestation report of the Company’s registered public accounting firm regarding internal control over financial reporting. Management’s  report was not subject to attestation by the Company’s registered public accounting firm pursuant to temporary rules of the SEC that permit the Company to provide only management’s report in this annual report.

Item 9B. Other Information.

None.

PART III

Item 10. Directors, Executive Officers, Promoters and Control Persons of the Company

DIRECTORS AND EXECUTIVE OFFICERS

The name, age and titles of our sole officer and director are as follows:

Biographical Information and Background of officer and director 

Badria Alhussin has acted as our President, Treasurer and sole Director since our incorporation on February 4, 2014. Prior to this, from 2009-2013, Mrs. Alhussin was chief sales manager in Inditex Company in Turkey with responsibilities such as increasing business opportunities through various routes to market, keeping up to date with products and competitors, implements national sales programs by developing field sales action plans and others. From 2007-2009, Mrs. Alhussin worked as a sale manager in the same company before she had held the position of chief sales manager. Inditex is one of the largest fashion retail groups in the world with eight brands and over 6,460 stores in 88 markets. Badria Alhussin was born in Syria in 1952 in Edlib, Syria. Badria earned Master Degree in Audit and Accounting in Damascus University.

During the past ten years, Mrs. Alhussin has not been the subject to any of the following events:

AUDIT COMMITTEE

We do not have an audit committee financial expert. We do not have an audit committee financial expert because we believe the cost related to retaining a financial expert at this time is prohibitive. Further, because we have no operations, at the present time, we believe the services of a financial expert are not warranted.

SIGNIFICANT EMPLOYEES

We have no employees other than our sole director Mrs. Badria Alhussin. We intend to hire employees on an as needed basis.

Item 11. Executive Compensation

The following tables set forth certain information about compensation paid, earned or accrued for services by our President, and Secretary (collectively, the “Named Executive Officers”) from inception on February 4, 2014 until July 31, 2015:

Summary Compensation Table

There are no current employment agreements between the company and its officers. The compensation discussed herein addresses all compensation awarded to, earned by, or paid to our named executive officer. There are no other stock option plans, retirement, pension, or profit sharing plans for the benefit of our officers and directors other than as described herein.

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

The following table sets forth certain information concerning the number of shares of our common stock owned beneficially as of September 16, 2015 by: (i) each person (including any group) known to us to own more than five percent (5%) of any class of our voting securities, (ii) our director, and or (iii) our officer.  Unless otherwise indicated, the stockholder listed possesses sole voting and investment power with respect to the shares shown.

The percent of class is based on 6,040,000 shares of common stock issued and outstanding as of the date of this annual report.

Item 13. Certain Relationships and Related Transactions

During the year ended July 31, 2015, we had not entered into any transactions with our sole officer or director, or persons nominated for these positions, beneficial owners of 5% or more of our common stock, or family members of these persons wherein the amount involved in the transaction or a series of similar transactions exceeded the lesser of $120,000 or 1% of the average of our total assets for the last three fiscal years.

As of July 31, 2015, a director had loaned $17,387 (July 31, 2014 - $5,807) to the Company to provide working capital for its business operations. The loan is unsecured, non-interest bearing and due on demand.

Item 14. Principal Accountant Fees and Services 

During fiscal year ended July 31, 2015, we incurred approximately $7,750 in fees to our principal independent accountants for professional services rendered in connection with the audit of our July 31, 2014 financial statements and for the reviews of our financial statements for the quarters ended October 31, 2014, January 31, 2015, and April 30, 2015.

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PART IV

Item 15. Exhibits

The following exhibits are included as part of this report by reference:

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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.

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