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EX-32 - CERTIFICATION UAGRANITE - UA Granite Corpexhibit32.htm
EX-31 - CERTIFICATION UAGRANITE - UA Granite Corpexhibit31.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

(Mark One)

þ     ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended March 31, 2017.

oTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from

_to

.

Commission file number:

UA GRANITE CORPORATION

(Exact name of registrant as specified in its charter)

Nevada

80-0899451

(State or other jurisdiction of

(I.R.S. Employer

incorporation or organization)

Identification No.)

10 Bogdan Khemlnitsky Street #13A

Kiev, Ukraine 01030

(Address of principal executive offices) (Zip Code)

Registrants telephone number, including area code: (380) 636419991

Securities registered under Section 12(b) of the Act: None.

Securities registered under Section 12(g) of the Act: common stock (title of class), $0.001 par value.

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

Yes oNo þ

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the  Act.

Yes oNo þ

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 þNo o

Indicate  by  check  mark  whether  the  registrant  has  submitted  electronically  and  posted  on  its  corporate  Web  site,  if  any,  every

Interactive  Data  File  required  to  be  submitted  and  posted  pursuant  to  Rule  405  of  Regulation  S-T    232.405  of  this  chapter)

during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes oNo þ

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§ 229.405 of this chapter) is not

contained  herein,  and  will  not  be  contained,  to  the  best  of  registrants  knowledge,  in  definitive  proxy  or  information  statements

incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. o

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. Smaller reporting company þ

Indicate by check mark whether the registrant is a shell company (as defined in Rule  12b-2 of the Act). Yes þ    No o

The   aggregate   market   value   of  the   registrants   common   stock,   $0.00001  par   value   held   by  non-affiliates   (650,000)   was

approximately $162,500 based on the average closing bid and ask prices ($0.25) for the common stock on June 29, 2017.

At July 12, 2017, the number of shares outstanding of the registrants common stock, $0.00001 par value (the only class of voting

stock), was 5,650,000.

1




TABLE OF CONTENTS

PART I

Item1.

Business ............................................................................................................................... 3

Item 1A.

Risk Factors ......................................................................................................................... 6

Item 1B.

Unresolved Staff Comments .................................................................................................. 6

Item 2.

Properties ............................................................................................................................. 6

Item 3.

Legal Proceedings................................................................................................................. 6

Item 4.

Mine Safety Disclosures ........................................................................................................ 6

PART II

Item 5.

Market for Registrants Common Equity, Related Stockholder Matters, and Issuer

Purchases of Equity Securities................................................................................................ 7

Item 6.

Selected Financial Data ......................................................................................................... 9

Item 7.

Management's Discussion and Analysis of Financial Condition and Results of

Operations............................................................................................................................. 9

Item 7A.

Quantitative and Qualitative Disclosures about Market Risk ................................................... 13

Item 8.

Financial Statements and Supplementary Data....................................................................... 14

Item 9.

Changes in and Disagreements with Accountants on Accounting and Financial

Disclosure ........................................................................................................................... 15

Item 9A.

Controls and Procedures ...................................................................................................... 15

Item 9B.

Other Information ................................................................................................................ 17

PART III

Item 10.

Directors, Executive Officers, and Corporate Governance...................................................... 18

Item 11.

Executive Compensation ...................................................................................................... 20

Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related

Stockholder Matters ............................................................................................................. 22

Item 13.

Certain Relationships and Related Transactions, and Director  Independence............................ 22

Item 14.

Principal Accountant Fees and Services ................................................................................ 23

PART IV

Item 15.

Exhibits, Financial Statement Schedules ................................................................................. 24

Signatures

.......................................................................................................................................... 25

2




PART I

ITEM 1

BUSINESS

As  used  herein  the  terms  Company,  we,  our,  and  us  refer  to  UA  Granite  Corporation  unless

context indicates otherwise.

FORWARD-LOOKING STATEMENTS

The  information   in  this  Annual   Report   on   Form   10-K   contains  forward-looking  statements.  These

forward-looking  statements  involve  risks  and  uncertainties,  including  statements  regarding  our  capital

needs,  business  plans  and  expectations.  Such  forward-looking  statements  involve  risks  and  uncertainties

regarding  our  planned  business,  availability  of  funds,  government  regulations,  common  share  prices,

operating  costs,  capital  costs,  our  ability  to  deploy  our  planned  business  and  generate  revenues  and  other

factors.  Any  statements  contained  herein  that  are  not  statements  of  historical  facts  may  be  deemed  to  be

forward-looking  statements.  In  some  cases,  you  can  identify  forward-looking  statements  by  terminology

such  as  "may",  "will",  "should",  "expect",  "plan",  "intend",  "anticipate",  "believe",  "estimate",  "predict",

"potential"  or  "continue",  the  negative  of  such  terms  or  other  comparable  terminology.  These  statements

are  based  on  certain  assumptions  and analyses  made  by our  management  in light  of  its  experience  and its

perception  of  historical  trends,  current  conditions  and  expected  future  developments  as  well  as  other

factors they believe are appropriate in the circumstances. Actual events or results may differ materially. In

evaluating  these  statements,  you  should  consider  various  factors,  including  the  risks  outlined  below,  and,

from   time   to   time,   in   other   reports   we   file   with   the   Securities   and   Exchange   Commission   (the

Commission). These factors  may cause our  actual  results to  differ  materially from any forward-looking

statement.  We  disclaim  any  obligation  to  publicly  update  these  statements,  or  disclose  any  difference

between  its  actual  results  and  those  reflected  in  these  statements.  Given  these  uncertainties,  readers  are

cautioned not to place undue reliance on such forward-looking statements.

Overview

The Company was incorporated in the State of Nevada on February 14, 2013, to engage in the business of

marketing  and  distributing  finished  granite  products.  We  have  since  discontinued  efforts  related  to  our

granite  products  business  due  to  difficulties  that  have  arisen  from  the  continuation  of  hostilities  between

separatist  elements  supported  by  foreign  interests  and  Ukrainian  government  forces  in  certain  eastern

districts of Ukraine. The Company is now in the process of seeking out other business opportunities.

Our  office  is  located  at  10  Bogdan  Khemlnitsky  Street  #13A,  Kiev,  Ukraine  0130,  and  our  telephone

number  is  (380)  636419991.  Our  registered  agent  is  Business  Filings  Incorporated  311  South  Division

Street, Carson City Nevada.

The  Company  currently  maintains  a  quotation  on  the  OTC  Markets  Group,  Inc.  over  the  counter  market

platform under the symbol UAGZ.

Company

Our  present  intent  is  to  identify  and  evaluate  business  opportunities  that  might  prove  to  be  a  good  match

for the  Company.  We  will not  be able  to develop any identified  business  opportunities  without  additional

financing.  Our  board  of  directors  and  management  are  actively  pursuing  financing  in  order  to  maintain

operations while we evaluate potential businesses.

3




Selection of a Business

We  will  not  restrict  our  consideration  to  any particular  business  or industry segment,  and  might  consider,

among  others,  finance,  brokerage,  insurance,  transportation,  communications,  research  and  development,

biotechnology,  service,  natural  resources,  manufacturing  or  high-technology.  Management  recognizes

that  the  Companys  inadequate  financial  resources  limit  the  scope  and  number  of  suitable  business

venture candidates that might otherwise be available.

The  decision  to  participate  in  a  specific  business  opportunity  will  be  made  upon  managements  analysis

of the quality of the other firms management and personnel, the anticipated acceptability of new products

or marketing concepts, the merit of technological  changes and numerous other  factors which are difficult,

if  not  impossible,  to  analyze  through  the  application  of  any  objective  criteria.  In  many  instances,  it  is

anticipated  that  the  historical  operations  of  a  specific  venture  may  not  necessarily  be  indicative  of  the

potential  for  the  future  because  of  the  necessity  to  substantially  shift  a  marketing  approach,  expand

operations,  change  product  emphasis,  change  or  substantially  augment   management,  or  make  other

changes. We will to some extent be dependent upon the management of a business opportunity to identify

such problems and to implement, or be primarily responsible for the implementation of, required changes.

We  will  not  acquire  or  merge  with  any  company  for  which  audited  financial  statements  could  not  be

obtained.  Nonetheless,  it  may  be  anticipated  that  any  opportunity  in  which  we  determine  to  participate

would  present  certain  risks  to  our  shareholders.  Risks  might  include  the  track  record  of  managements

effectiveness,  failures  to  establish  a  consistent  market  for  products  or  services,  development  stage,  or  to

realize  profits.  Many  more  of  these  risks  may  not  be  adequately  identified  prior  to  the  selection  of  a

specific  opportunity,  and  our  shareholders  must,  therefore,  depend  on  the  ability  of  management  to

identify and evaluate such risks as such become evident.

Acquisition of Business

We  may  become  a  party  to  a  merger,  consolidation,  reorganization,  joint  venture,  franchise  or  licensing

agreement  with  another  entity  or  may  purchase  the  stock  or  assets  of  an  existing  business.  On  the

consummation of any given  transaction it  is possible that  present  management  and shareholders would no

longer  control  of  the  Company.  In  addition,  management  may,  as  part  of  the  terms  of  any  transaction,

resign and be replaced by new officers and directors without a vote of the Companys shareholders.

The  Company  anticipates  that  any  securities  issued  in  any  reorganization  would  be  issued  in  reliance  on

exemptions  from  registration  under  applicable  federal  and  state  securities  laws.  In  some  circumstances,

however,  as  a  negotiated  element  of  any  transaction,  the  Company  may  agree  to  register  securities  either

at the time the transaction is consummated, under certain conditions, or at a specified time thereafter. The

issuance  of  a  substantial  additional  securities  and  their  potential  sale  into  any  trading  market  may  have  a

depressive effect on our stock price.

While the actual terms of a transaction to which the Company  may be a party cannot  be predicted, it  may

be  expected  that  the  parties  to  the  business  transaction  would  find  it  desirable  to  avoid  the  creation  of  a

taxable  event  and  thereby  structure  the  acquisition  in  a  so  called  tax-free  reorganization  under  Section

368(a)(1)  of  the  Internal  Revenue  Code  of  1986,  as  amended  (the  Code).  However,  in  order  to  obtain

tax-free  treatment  under  the  Code,  it  may  be  necessary  for  the  owners  of  the  acquired  business  to  own

80%  or  more  of  the  voting  stock  of  the  surviving  entity.  In  such  event,  the  shareholders  of  the  Company

would  retain  less  than  20%  of  the  issued  and  outstanding  shares  of  the  surviving  entity,  which  result  is  a

significant dilution in the equity of existing shareholders.

4




In  the  event  a  merger  or  acquisition  were  to  occur,  our  shareholders  would  in  all  likelihood  hold  a  lesser

percentage  ownership  interest  in  the  Company  following  such  merger  or  acquisition.  The  percentage

ownership  of  existing  shareholders  may  be  subject  to  a  significant  reduction  in  the  event  we  acquire  a

target  company  with  substantial  assets.  Any  merger  or  acquisition  effected  by  the  Company  can  be

expected   to   have   a   significant   substantial   dilutive   effect   on   the   percentage   of   shares   held   by   the

Companys present shareholders.

Operation of Business after Acquisition

The Company's operation following a merger with or acquisition of a business would be dependent on the

nature  of  the  business  and  the  interest  acquired.  We  are  unable  to  determine  at  this  time  whether  the

Company  would  be  in  control  of  the  business  or  whether  present  management  would  be  in  control  of  the

Company  following  any  acquisition.  We  could  expect  that  any  future  business  would  present  various

challenges that cannot be predicted at the present time.

Competition

Whatever the business opportunity is that we do ultimately acquire or develop, we are almost certain to be

involved  in  intense  competition  with  other  business  entities,  many of  which  will  have  a  competitive  edge

over us by virtue of their stronger financial resources and prior business experience.

Employees

The   Company   currently   has   one   employee   Myroslav   Tsapaliuk,   our   chief   executive   officer,   chief

financial  officer  and  one  of  our  directors  who  devotes  approximately  20  hours  a  week  to  our  business.

The  Company  looks  to  Mr.  Tsapaliuk  for  his  entrepreneurial  skills  and  talents.    Management  uses

consultants,  attorneys  and  accountants  as  necessary  and  does  not  plan  to  engage  any  full-time  employees

in the near future.

Patents, Trademarks, Licenses, Franchises, Concessions, Royalty Agreements and Labor Contracts

The Company owns no patents, trademarks, licenses, franchises, concessions, or royalty agreements.

The Company is not subject to any labor contracts.

Governmental and Environmental Regulation

General

The  Company  cannot  at  this  time  anticipate  the  government  regulations,  if  any,  to  which  the  Company

may  be  subject  following  a  merger  or  acquisition.  However,  we  can  be  certain  that  the  conduct  of  any

business  subjects  us  to  environmental,  public  health  and  safety,  land  use,  trade,  or  other  governmental

regulations and state or local taxation. In selecting a business in which to acquire an interest, management

would   endeavor   to   ascertain   the   effects   of   such   government   regulation   on   a   prospective   business

opportunity.  In  certain  circumstances,  however,  such  as  the  acquisition  of  an  interest  in  a  new  or  start-up

business activity,  it  may not  be possible to predict  with  any degree of  accuracy the  impact  of  government

regulation.

The  Company  believes  that  it  is  currently  in  compliance  in  all  material  respects  with  all  laws,  rules,

regulations  and  requirements  that  affect  its  business.  Further,  we  believe  that  compliance  with  such

applicable laws, rules, regulations and requirements does not impose a material impediment on our ability

to conduct business.

5




Research and Development

During the years ended March 31, 2017 and 2016, the Company spent no amounts on research and

development activities.

Bankruptcy or Similar Proceedings

Since inception there has been no bankruptcy, receivership or similar proceeding.

Reorganizations, Purchase or Sale of Assets

Since inception there have been no material reclassifications, mergers, consolidations, or purchase or sale

of a significant amount of assets not in the ordinary course of business

Reports to Security Holders

The  Companys  annual  report  contains  audited  financial  statements.  We  are  not  required  to  deliver  an

annual  report  to  security  holders  and  will  not  automatically  deliver  a  copy  of  the  annual  report  to  our

security  holders  unless  a  request  is  made  for  such  delivery.  We  file  all  of  our  required  reports  and  other

information  with  the  Commission.  The  public  may  read  and  copy  any  materials  that  are  filed  by  the

Company  with  the  Commission  at  the  Commissions  Public  Reference  Room  at  100  F  Street,  N.E.,

Washington,  D.C.  20549.  The  public  may  obtain  information  on  the  operation  of  the  Public  Reference

Room  by  calling  the  Commission  at  1-800-SEC-0330.  The  statements  and  forms  filed  by  us  with  the

Commission have also been filed electronically and are available for viewing or copy on the Commission

maintained  Internet  site  that  contains  reports,  proxy  and  information  statements,  and  other  information

regarding  issuers  that  file  electronically  with  the  Commission.  The  Internet  address  for  this  site  can  be

found at http://www.sec.gov.

ITEM 1A.

RISK FACTORS

Not required for smaller reporting companies.

ITEM 1B.

UNRESOLVED STAFF COMMENTS

Not required for smaller reporting companies.

ITEM 2.

PROPERTIES

The  Company  maintains  an  office  at  10  Bogdan  Khmelnitsky  Street,  #  13A,  Kyiv  01030,  Ukraine.  The

office  is  provided  by  our  chief  executive  officer,  Myroslav  Tsapaliuk,  at  no  cost  to  the  Company,  as  our

primary  location  for  the  planning  and  implementation  of  our  business  plan.  Management  believes  the

current premises are sufficient for its needs for at least the next 12 months.

ITEM 3.

LEGAL PROCEEDINGS

We are not party to any legal proceedings and to our knowledge no such proceedings are threatened or

contemplated.

ITEM 4.

MINE SAFETY DISCLOSURES

Not applicable.

6




PART II

ITEM 5.

MARKET FOR COMMON EQUITY, RELATED STOCKHOLDER MATTERS,

AND ISSUER PURCHASES OF EQUITY SECURITIES

Market Information

Since  April  19,  2014,  our  common  shares  have  been  quoted  on  the  OTCPink  tier  of  the  OTC  Markets

Group,  Inc.  electronic  trading  platform,  under  the  symbol  UAGZ.  The  following  table  shows  the

reported  high  and  low  closing  bid  prices  per  share  for  our  common  stock  based  on  the  information

provided by OTC Markets Group. The over-the-counter market quotations set forth for our common stock

reflect  inter-dealer  prices,  without  retail  mark-up,  mark-down  or  commission  and  may  not  necessarily

represent actual transactions.

The following table indicates the high and low bid prices of our common shares during the periods

indicated:

QUARTER

HIGH BID

LOW BID

ENDED

March 31, 2017

$

0.25

$

0.25

December 31, 2016

$

0.25

$

0.25

September 30, 2016

$

0.25

$

0.25

June 30, 2015

$

0.25

$

0.25

March 31, 2015

$

0.25

$

0.25

December 31, 2014

$

0.25

$

0.25

September 30, 2014

$

0.25

$

0.25

June 30, 2014

$

0.25

$

0.25

The   market   quotations   provided   reflect   inter-dealer   prices,   without   retail   mark-up,   markdown   or

commission and may not represent actual transactions.

Capital Stock

The  following  is  a  summary  of  the  material  terms  of  the  Companys  capital  stock.  This  summary  is

subject to and qualified by our articles of incorporation and bylaws.

Common Stock

As  of  March  31,  2017,  there  were  29  shareholders  of  record  holding  a  total  of  5,650,000  shares  of  fully

paid  and  non-assessable  common  stock  of  the  75,000,000  shares  of  common  stock,  par  value  $0.00001,

authorized.  The  board  of  directors  believes  that  the  number  of  beneficial  owners  is  greater  than  the

number  of  record  holders  because  a  portion  of  our  outstanding  common  stock  is  held  in  broker  street

names  for  the  benefit  of  individual  investors.  The  holders  of  the  common  stock  are  entitled  to  one  vote

for  each  share  held  of  record  on  all  matters  submitted  to  a  vote  of  stockholders.  Holders  of  the  common

stock  have  no  preemptive  rights  and  no  right  to  convert  their  common  stock  into  any  other  securities.

There is no redemption or sinking fund provisions applicable to the common stock.

Warrants

As of March 31, 2017, the Company had no outstanding warrants to purchase shares of its common stock.

7




Stock Options

As of March 31, 2017, the Company had no outstanding stock options to purchase shares of its common

stock.

Convertible Securities

As of March 31, 2017, the Company had no outstanding convertible securities to purchase shares of its

common stock.

Securities Authorized for Issuance Under Equity Compensation Plans

The Company had no securities authorized for issuance under any equity compensation plan as of March

31, 2017.

Purchases of Equity Securities made by the Issuer and Affiliated Purchasers

The Company had not repurchased any shares of its common stock during the year ended March 31,

2017.

Dividends

The  Company  has  not  declared  any  cash  dividends  since  inception  and  does  not  anticipate  paying  any

dividends  in  the  near  future.  The  payment  of  dividends  is  within  the  discretion  of  the  board  of  directors

and  will  depend  on  our  earnings,  capital  requirements,  financial  condition,  and  other  relevant  factors.

There  are  no  restrictions  that  currently  limit  the  Company's  ability  to  pay  dividends  on  its  common  stock

other than those generally imposed by applicable state law.

Recent Sales of Unregistered Securities

During the quarter ended March 31, 2017, there were no sales of the Companys securities.

Trading Information

The Companys transfer agent is:

West Coast Stock Transfer, Inc.

721 North Vulcan Avenue, Suite 205

Encinitas

California 92024

(619) 664-4780

8




Section 15(g) of the Securities Exchange Act of 1934

Our shares are covered by Section 15(g) of the Securities Exchange Act of 1934, as amended that imposes

additional  sales  practice  requirements  on  broker/dealers  who  sell  such  securities  to  persons  other  than

established  customers  and  accredited  investors  (generally  institutions  with  assets  in  excess  of  $5,000,000

or  individuals  with  net  worth  in  excess  of  $1,000,000  or  annual  income  exceeding  $200,000  or  $300,000

jointly  with  their  spouses).  For  transactions  covered  by  Section  15(g),  the  broker/dealer  must  make  a

special  suitability  determination  for  the  purchase  and  have  received  the  purchasers  written  agreement  to

the  transaction  prior  to  the  sale.  Consequently,  Section  15(g)  may  affect  the  ability  of  broker/dealers  to

sell our securities and also may affect your ability to sell shares in the secondary market.

Section  15(g)  also  imposes  additional  sales  practice  requirements  on  broker/dealers  who  sell  penny

securities.  These  rules  require  a  one  page  summary  of  certain  essential  items.  The  items  include  the  risk

of  investing  in  penny  stocks  in  both  public  offerings  and  secondary  marketing;  terms  important  to  in

understanding  of  the  function  of  the  penny  stock  market,  such  as  bid  and  offer  quotes,  a  dealers

spread and broker/dealer compensation; the broker/dealer compensation, the broker/dealers duties to its

customers,  including  the  disclosures  required  by  any  other  penny  stock  disclosure  rules;  the  customers

rights  and  remedies  in  causes  of  fraud  in  penny  stock  transactions;  and,  the  NASDs  toll  free  telephone

number and the central number of the North American Administrators Association, for information on the

disciplinary history of broker/dealers and their associated persons.

The application of the penny stock rules may affect the trading of our shares.

ITEM  6.

SELECTED FINANCIAL DATA

Not required for smaller reporting companies.

ITEM  7.

MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL

CONDITION AND RESULTS OF OPERATIONS

This  Managements  Discussion  and  Analysis  of  Financial  Condition  and  Results of  Operations  and  other

parts   of  this   annual  report   contain  forward-looking  statements  that   involve  risks  and   uncertainties.

Forward-looking  statements  can  also  be  identified  by  words  such  as  anticipates,  expects,  believes,

plans,   predicts,   and   similar   terms.   Forward-looking   statements   are   not   guarantees   of   future

performance  and  our  actual  results  may  differ  significantly  from  the  results  discussed  in  the  forward-

looking  statements.  Factors  that  might   cause  such  differences  include  but  are  not  limited  to  those

discussed  in  the  subsection  entitled  Forward-Looking  Statements  and  Factors  That  May  Affect  Future

Results  and  Financial  Condition  below.  The  following discussion  should  be  read in  conjunction  with  our

financial statements and notes thereto included in this report. Our fiscal year end is March 31.

Discussion and Analysis

The  Companys  plan  of  operation  over  the  next  twelve  months  is  to  identify  and  acquire  or  develop  a

business  opportunity.  We  will  require  a  minimum  of  $50,000  in  funding  over  the  next  12  months  to

maintain  current  operations  and  seek  out  a  suitable  business  opportunity.  Should  we  identify  a  new

opportunity  within  this  time  frame,  for  acquisition  or  development,  the  Company  will  most  likely  need

additional funding to  close or develop any given transaction. The amount of funding required will depend

on the opportunity and is not determinable at this time.

9




We  anticipate  that  the  required  prospective  funding  will  be  in  the  form  of  equity  financing  from  the  sale

of  our  common  stock  or  unsecured  debt  financing  arranged  with  third  parties  or  our  own  shareholders.

However, since the Company does not have any financing arranged it cannot provide any assurance that it

will  be  able  to  realize  sufficient  funding  from  financing  efforts  to  maintain  operations.  Management  is

currently  considering  all  avenues  available  to  obtain  the  financing  required  to  maintain  operations  while

seeking  out  a  business  opportunity.  Accordingly,  we  will  require  continued  financial  support  from  our

shareholders  until  we  are  able  to  procure  third  party  financing  and  generate  sufficient  cash  flow  from  a

new  business  opportunity  to  maintain  operations.  Despite  our  efforts  there  is  substantial  doubt  as  to

whether we will be successful in achieving these objectives.

Results of Operations

During the year ended March 31, 2017, the Company sought out prospective business opportunities; and

satisfied continuous public disclosure requirements.

Our operations for the years ended March 31, 2017 and 2016 are summarized below.

2017

2016

Operating Expenses:

General and Administration

$

(5,621)     $

(1,846)

Professional fees

$

(7,206)     $

(5,280)

Consulting

$

(4,090)     $

(15,728)

Imputed interest expense

$

(3,493)     $

(1,543)

Net Loss for the Year

$

(20,410)     $

(24,397)

Net Loss

Net  loss  for  year  ended  March  31,  2017  was  $20,410  as  compared  to  a  net  loss  of  $24,397  for  the  year

ended  March  31,  2016.  The  decrease  in  net  loss  over  the  comparative  annual  periods  can  be  attributed  to

the  decrease  in  consulting fees  offset  by the  increase  in  general  and  administrative  fees,  professional  fees

and imputed interest expense in the current annual period.

We did not generate revenue during this period and expect to continue to incur losses over the next twelve

months  at  a  rate  comparable  to  the  current  annual  period  presented  here  or  until  such  time  as  we  are  able

to conclude the acquisition or development of a new business opportunity that produces net income.

Capital Expenditures

The Company expended no amounts on capital expenditures for the years ended March 31, 2017 and

March 31, 2016.

Income Tax Expense (Benefit)

The Company has a prospective income tax benefit resulting from a net operating loss carry-forward and

start up costs that will offset any future operating profit.

10




Impact of Inflation

The Company believes that inflation has had a negligible effect on operations over the past two years.

Liquidity and Capital Resources

Since  inception,  the  Company  has  experienced  significant  changes  in  liquidity,  capital  resources,  and

stockholders deficit.

The  Company  had  current  and  total  assets  of  $0  as  of  March  31,  2017,  consisting  solely  of  cash,  as

compared  to  current  and  total  assets  of  $95,  consisting  solely  of  cash  as  of  March  31,  2016.  Net

stockholders'  deficit  was  $53,485  at  March  31,  2017,  as  compared  to  a  net  stockholders  deficit  of

$36,568  at  March  31,  2016.  The  Company  had  a  net  working  capital  deficit  of  $53,485  as  of  March  31,

2017.

Cash Used in Operating Activities

Net  cash  used  in  operating  activities  for  the  year  ended  March  31,  2017  was  $17,785  as  compared  to

$26,343 for the year ended March 31, 2016, which differences reflect the related party loan along with the

comparative  increase  in  general  and  administrative  expenses,  the  decrease  in  consulting  expenses  and

changes in  working capital in the current  year.  Net  cash  flow  used in  operating activities  in  the  prior  year

can  also  be  primarily  attributed  to  general  and  administrative  expenses,  and  changes  in  working  capital.

General  and  administrative  expenses  include  but  are  not  limited  to,  personnel  costs,  accounting  fees,

consulting  expenses,  and  professional  fees,  accounts  payable  and  accrued  liabilities  while  changes  in

working capital include changes in accounts payable.

We  expect  to  continue  to  use  net  cash  flow  in  operating  activities  over  the  next  twelve  months  or  until

such  time  as  the  Company  can  generate  sufficient  revenue  to  transition  to  providing  net  cash  flow  from

operations.

Cash Used in Investing Activities

We  do  expect  to  use   net  cash  flow  in  investing  activities  in  connection  with  the  development   or

acquisition  of  a  business  opportunity.  Until  such  time  as  such  unidentified  opportunity  is  concluded,  we

do not expect to use net cash flows in investing activities.

Cash Flows from Financing Activities

Net   cash   flow   provided   by   financing   activities   for   the   year   ended   March   31,   2017,   decreased   to

$17,690 as  compared  to  $23,320 for  the  year  ended  March  31,  2016.  The  decrease  in  net  cash  flow

provided from financing activities over the comparative  annual periods can be attributed to an decrease in

amounts provided by a director as compared to those amounts provided by a director in the former period.

We  expect  to  continue  to  use  cash  flow  provided  by  financing  activities  to  procure  sufficient  funds  to

maintain operations in order to seek out business opportunities.

11




The  Companys  current  assets  are  insufficient  to  conduct  its  plan  of  operation  over  the  next  twelve  (12)

months.  We  will  have  to  seek at  least  $50,000  in  debt  or  equity financing over  the  next  twelve  months  to

maintain  operations.    The  Company  has  no  current  commitments  or  arrangements  with  respect  to,  or

immediate  sources  of  this  funding.  Further,  no  assurances  can  be  given  that  funding  is  available.  The

Companys  shareholders  are  the  most  likely  source  of  new  funding  in  the  form  of  loans  or  equity

placements  though  none  have  made  any  commitment  for  future  investment  and  the  Company  has  no

agreement   formal   or   otherwise.   The   Companys   inability   to   obtain   sufficient   funding   to   maintain

operations will have a material adverse affect on its ability to fulfill its plan of operation.

The Company does not intend to pay cash dividends in the foreseeable future.

The Company had no lines of credit or other bank financing arrangements as of  March 31, 2017 or March

31, 2016.

The Company had no commitments for future capital expenditures that were material at March 31, 2017.

The Company has no defined benefit plan or contractual commitment with any of its officers or directors.

The Company has no current plans for the purchase or sale of any plant or equipment.

The Company has no current plans to make any changes in the number of employees.

Off-Balance Sheet Arrangements

As  of  March  31,  2017,  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  financial  condition,  revenues

or  expenses,  results  of  operations,  liquidity,  capital  expenditures,  or  capital  resources  that  are  material  to

stockholders.

Future Financings

We  anticipate  continuing  to  rely  on  debt  or  equity  sales  of  our  shares  of  common  stock  in  order  to

continue  to  fund  our  business  operations.  There  is  no  assurance  that  we  will  achieve  any  additional  sales

of our equity securities or arrange for debt or other financing to fund our plan of operation.

Critical Accounting Policies

In  Note  2  to  the  audited  financial  statements  for  the  years  ended  March  31,  2017  and  2016,  included  in

our  Form  10-K,  the  Company  discusses  those  accounting  policies  that  are  considered  to  be  significant  in

determining   the   results   of   operations   and   its   financial   position.     The   Company   believes   that   the

accounting principles utilized by it conform to accounting principles generally accepted in the US.

The preparation of financial statements requires Company management  to  make  significant  estimates and

judgments  that  affect  the  reported  amounts  of  assets,  liabilities,  revenues  and  expenses.  By  their  nature,

these  judgments  are  subject  to  an  inherent  degree  of  uncertainty.  On  an  on-going  basis,  the  Company

evaluates  estimates.  The  Company  bases  its  estimates  on  historical  experience  and  other  facts  and

circumstances  that  are  believed  to  be  reasonable,  and  the  results  form  the  basis  for  making  judgments

about the carrying value of assets and liabilities.  The actual results may differ from these estimates under

different assumptions or conditions.

12




Going Concern

The  Companys  auditors  have  expressed  an  opinion  as  to  the  Companys  ability  to  continue  as  a  going

concern  as  a  result  of  an  accumulated  deficit  of  $885,505  since  inception  and  negative  cash  flows  from

operating  activities  as  of  March  31,  2017.    The  Companys  ability  to  continue  as  a  going  concern  is

subject  to  the  ability  of  the  Company  to  obtain  funding  from  outside  sources.   Managements  plan  to

address the Companys ability to continue as a going concern includes obtaining funding from the private

placement of equity or through debt financing.  Management believes that it will be able to obtain funding

to  allow  the  Company  to  remain  a  going  concern  through  the  methods  discussed  above,  though  there  can

be no assurances that such methods will prove successful.

Forward-Looking Statements and Factors That May Affect Future Results and Financial Condition

The  statements  contained  in  the  section  titled  Managements  Discussion  and  Analysis  of  Financial

Condition  and  Results  of  Operations  and  elsewhere  in  this  current  report,  with  the exception  of  historical

facts,  are  forward-looking  statements.  Forward-looking  statements  reflect  our  current  expectations  and

beliefs  regarding  our  future  results  of  operations,  performance,  and  achievements.  These  statements  are

subject  to  risks  and  uncertainties  and  are  based  upon  assumptions  and  beliefs  that  may  or  may  not

materialize. These statements include, but are not limited to, statements concerning:

§     the sufficiency of existing capital resources;

§     our ability to raise capital to fund cash requirements for future operations;

§     uncertainties related to the Companys future business prospects;

§     the volatility of the stock market and;

§     general economic conditions.

We  wish  to  caution  readers  that  our  operating  results  are  subject  to  various  risks  and  uncertainties  that

could  cause  our  actual  results  to  differ  materially  from  those  discussed  or  anticipated.  We  also  wish  to

advise readers not to place any undue reliance on the forward-looking statements contained in this report,

which  reflect  our  beliefs  and  expectations  only  as  of  the  date  of  this  report.  We  assume  no  obligation  to

update  or  revise  these  forward-looking  statements  to  reflect  new  events  or  circumstances  or  any  changes

in our beliefs or expectations, other than as required by law.

Recent Accounting Pronouncements

Please see Note 2 to our financial statements for a discussion of recent accounting pronouncements.

ITEM 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not required for smaller reporting companies.

13




ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

Our audited financial  statements for the year ended  March 31, 2017, as set  forth below, are included with

this   Annual   Report   on   Form  10-K.   Our  audited  financial   statements   are   prepared   on  the   basis   of

accounting principles generally accepted in the United States and are expressed in U.S. dollars.

March 31, 2017

Index

Auditors

Report.….........F-1

Balance Sheets as of March 31, 2017 and March 31, 2016 .............................................................................F-2

Statements of Operations for the years ended March 31, 2017 and 2016.........................................................F-3

Statements of Cash Flows for the years ended March 31, 2017 and 2016 .......................................................F-4

Statement of Changes in Stockholders Deficit from March 31, 2015 through

March 31, 2017 ...........................................................................................................................................F-5

Notes to the Financial Statements .................................................................................................................F-6

14




REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors

UA Granite Corporation

We  have  audited  the  accompanying  balance  sheets  of  UA  Granite  Corporation  as  of  March  31,  2017  and

2016  and  the  related  statements  of  operations,  changes  in  stockholders  deficit,  and  cash  flows  for  the

years  then  ended.  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  audits  in  accordance  with  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  includes  examining,   on  a  test   basis,  evidence   supporting  the  amounts  and

disclosures  in  the  financial  statements.  An  audit  also  includes  assessing  the  accounting  principles  used

and  significant  estimates  made  by  management,  as  well  as  evaluating  the  overall  financial  statement

presentation. We believe that our audits provide 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  UA  Granite  Corporation  as  of  March  31,  2017  and  2016  and  the  results  of  its

operations  and  cash  flows  for  each  of  the  years  in  the  two-year  period  ended  March  31,  2017,  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  1  to  the  financial  statements,  the  Company  suffered  a  net  loss  from

operations and has a net capital deficiency, which raises substantial doubt about its ability to continue as a

going  concern.  Managements  plans  regarding  those  matters  are  also  described  in  Note  1.  The  financial

statements do not include any adjustments that might result from the outcome of this uncertainty.

/s/ M&K CPAS, PLLC

www.mkacpas.com

Houston, Texas

July 12, 2017

F-1




UA Granite Corporation

Balance Sheets

March 31, 2017 and March 31, 2016

March 31,

March 31,

2017

2016

ASSETS

Current Assets

Cash

$

0

$

95

Total Assets

$

0

$

95

LIABILITIES AND STOCKHOLDERS EQUITY

(DEFICIT)

Current Liabilities

Accounts Payable and Accrued Liabilities

592

1,460

Accounts Payable  - Related Party

37,970

21,500

Due to Directors

14,923

13,703

Total Liabilities

53,485

36,663

   Stockholders Equity (Deficit)

Common Stock (75,000,000 shares authorized, par value

0.00001) 5,650,000 and 5,650,000 shares issued and

outstanding) at September 30, 2015 and March 31, 2015,

respectively

57

57

Additional Paid in Capital

31,963

28,470

Accumulated deficit

(85,505)

(65,095)

Total Stockholders Equity (Deficit)

(53,485)

(36,568)

Total Liabilities and StockholdersEquity (Deficit)

$

0

$

95

(The Accompanying Notes are an Integral Part of These Financial Statements)

F-2




UA Granite Corporation

Statements of Operations

For the Years Ended March 31, 2017 and 2016

Year Ended

Year Ended

March 31,

March 31,

2017

2016

Operating Expenses

Legal and accounting

$

7,206

$

5,280

Consulting

4,090

15,728

General and administrative

5,621

1,846

Total Operating Expenses

16,917

22,854

Other Expense

Imputed interest expense

3,493

1,543

Net Loss

$    (20,410)

$    (24,397)

Net Loss Per Common Share

$

(0.00)

$

(0.00)

Basic and Diluted

Weighted Average Number of

Common Shares Outstanding

5,650,000

5,650,000

(The Accompanying Notes are an Integral Part of These Financial Statements)

F-3




UA Granite Corporation

Statements of Cash Flows

For the Years Ended March 31, 2017 and 2016

Year Ended

Year Ended

March 31, 2017

March 31, 2016

Operating Activities

Net loss

$

(20,410)

$

(24,397)

Adjustment to reconcile net loss to net cash

used by operating activities:

Imputed interest

3,493

1,543

Changes in operating assets and liabilities:

Accounts payable and accrued liabilities

(868)

(3,489)

Net Cash Used in Operating Activities

(17,785)

(26,343)

Financing Activities

Proceeds from related parties

16,470

21,500

Proceeds from director

1,220

1,820

Net Cash Provided by Financing Activities

17,690

23,320

Increase (Decrease) in Cash

(95)

(3,023)

Cash - Beginning of Period

95

3,118

Cash  - End of Period

$

0

$

95

Supplemental Disclosure of Cash Flow information

Interest

$

-

$     -

Income taxes

$

-

$     -

(The Accompanying Notes are an Integral Part of These Financial Statements)

F-4




UA Granite Corporation

Statement of Changes in Stockholders Deficit

From March 31, 2015 to March 31, 2017

Additional

Common Stock

Paid

Accumulated

Shares

Amount

in Capital

Deficit

Total

Balances at  March 31, 2015

5,650,000   $

57

$

26,927  $     (40,698)   $  (13,714)

Imputed interest

-

-

1,543

-

1,543

Net loss

-

-

-

(24,397)

(24,397)

Balances at  March 31, 2016

5,650,000   $

57

$

28,470  $     (65,095)   $  (36,568)

Imputed interest

3,493

3,493

Net loss

-

-

-

(20,410)

(20,410)

Balances at  March 31, 2017

5,650,000   $

57

$

31,963  $     (85,505)   $  (53,485)

(The Accompanying Notes are an Integral Part of These Financial Statements)

F-5




UA Granite Corporation

Notes to the Financial Statements

NOTE 1 NATURE OF OPERATIONS

DESCRIPTION OF BUSINESS AND HISTORY

UA Granite Corporation (the Company) was incorporated on February 14, 2013 in the State of Nevada.

The  Company  does  not  have  any  revenues  and  has  incurred  losses  since  inception.  Currently,  the

Company  has  no  operations,  has  been  issued  a  going  concern  opinion,  and  relies  upon  the  sale  of  our

securities and loans from its sole officer and director to fund operations.

GOING CONCERN

These financial statements have been prepared on a going concern basis, which implies the Company will

continue to meet its obligations and continue its operations for the next fiscal year.   Realization value may

be substantially different from carrying values as shown and these financial statements do not include any

adjustments  to  the   recoverability  and  classification  of  recorded  asset   amounts  and  classification  of

liabilities  that  might  be  necessary  should  the  Company  be  unable  to  continue  as  a  going  concern.  As  of

March  31,  2017  the  Company  has  a  working  capital  deficiency,  has  not  generated  revenues  and  has

accumulated  losses  since  inception.  The  continuation  of  the  Company  as  a  going  concern  is  dependent

upon the continued financial support from its shareholders, the ability of the Company to obtain necessary

equity  financing  to  continue  operations,  and  the  attainment  of  profitable  operations.  These  factors  raise

substantial doubt regarding the Companys ability to continue as a going concern.

NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

BASIS OF PRESENTATION

These  financial  statements  and  related  notes  are  presented  in  accordance  with  accounting  principles

generally accepted in the United States, and are expressed in U.S. dollars. The Companys fiscal year-end

is March 31.

USE OF ESTIMATES

The  preparation  of  financial  statements  in  accordance  with  U.S.  generally  accepted  accounting  principles

requires  management  to  make  estimates  and  assumptions  that  affect  the  reported  amounts  of  assets  and

liabilities  at  the  date  of  the  financial  statements  and  the  reported  amounts  of  net  revenue  and  expenses  in

the  reporting  period.  We  regularly  evaluate  our  estimates  and  assumptions  related  to  the  useful  life  and

recoverability  of  long-lived  assets,  stock-based  compensation  and  deferred  income  tax  asset  valuation

allowances.  We  base  our  estimates  and  assumptions  on  current  facts,  historical  experience  and  various

other factors that we believe to be reasonable under the circumstances, the results of which form the basis

for  making  judgments  about  the  carrying  values  of  assets  and  liabilities  and  the  accrual  of  costs  and

expenses  that  are  not  readily  apparent  from  other  sources.  The  actual  results  experienced  by  us  differ

materially  and  adversely  from  our  estimates.  To  the  extent  there  are  material  differences  between  our

estimates and the actual results, our future results of operations will be affected.

F-6




NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Continued

CASH AND CASH EQUIVALENTS

The  Company  considers  all  highly  liquid  instruments  with  original  maturities  of  three  months  or  less

when  acquired,  to  be  cash  equivalents.  We  had  no  cash  equivalents  at  March  31,  2017  or  March  31,

2016.

INCOME TAXES

The  Company  accounts  for  income  taxes  under  the  provisions  issued  by  the  FASB  which  requires

recognition  of  deferred  tax  liabilities  and  assets  for  the  expected  future  tax  consequences  of  events  that

have  been  included  in  the  financial  statements  or  tax  returns.  Under  this  method,  deferred  tax  liabilities

and  assets  are  determined  based  on  the  difference  between  the  financial  statement  and  tax  bases  of  assets

and  liabilities  using  enacted  tax  rates  in  effect  for  the  year  in  which  the  differences  are  expected  to

reverse. The  Company computes tax  asset  benefits for net  operating losses  carried forward.  The  potential

benefit of net operating losses has not been recognized in these financial statements because the Company

cannot be assured it is more likely than not it will utilize the net operating losses carried forward in future

years.

LOSS PER COMMON SHARE

The  Company  reports  net  loss  per  share  in  accordance  with  provisions  of  the  FASB.  The  provisions

require  dual  presentation  of  basic  and  diluted  loss  per  share.  Basic  net  loss  per  share  excludes  the  impact

of  common  stock equivalents.  Diluted  net  loss  per  share  utilizes  the  average  market  price  per  share  when

applying the treasury stock method  in  determining common  stock equivalents.  As  of March  31,  2017  and

March 31, 2016, there were no common stock equivalents outstanding.

FAIR VALUE OF FINANCIAL INSTRUMENTS

Pursuant  to  ASC  No.  820,  Fair  Value  Measurements  and  Disclosures,  the  Company  is  required  to

estimate the fair value of all financial instruments included on its balance sheet as of March 31, 2017. The

Companys  financial  instruments  consist  of  cash.  The  Company  considers  the  carrying  value  of  such

amounts  in  the  financial  statements  to  approximate  their  fair  value  due  to  the  short-term  nature  of  these

financial instruments.

RECENTLY ISSUED ACCOUNTING STANDARDS

a)    Recently Adopted Accounting Standards

In  June  2014,  ASU  guidance  was  issued  to  resolve  the  diversity  of  practice  relating  to  the  accounting  for

stock  based  performance  awards  that  the  performance  target  could  be  achieved  after  the  employee

completes  the  required  service  period.  The  update  is  effective  prospectively  or  retrospectively  for  annual

reporting periods beginning after December 15, 2015.

The  adoption  of  the  pronouncement  did  not  have  a  material  effect  on  the  Companys  consolidated

financial statements.

In  June  2014,  the  FASB  issued  ASU  No.  2014-10,  Development  Stage  Entities  (Topic  915):  Elimination

of Certain Financial Reporting Requirements. The amendments in this Update remove the definition of a

F-7




NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Continued

RECENTLY ISSUED ACCOUNTING STANDARDS Continued

development  stage  entity  from  the  Master  Glossary  of  the  Accounting  Standards  Codification,  thereby

removing the financial reporting

distinction  between  development  stage  entities  and  other  reporting  entities.  In  addition,  the  amendments

eliminate  the  requirements  for  development  stage  entities  to  (1)  present  inception-to-date  information  in

the statements of income, cash flows, and shareholder equity, (2) label the financial statements as those of

a  development  stage  entity,  (3)  disclose  a  description  of  the  development  stage  activities  in  which  the

entity  is  engaged,  and  (4)  disclose  in  the  first  year  in  which  the  entity  is  no  longer  a  development  stage

entity that in prior years it had been in the development stage.  This ASU was effective for annual periods

beginning  after  December  15,  2014.   Early  adoption  is  permitted.  Accordingly,  we  have  elected  to  adopt

ASU No. 2014-10 on April 1, 2015.

b)    Recent Accounting Pronouncements

In  January  2015,  an  ASU  was  issued  to  simplify  the  income  statement  presentation  requirements  in

Subtopic  225-20  by  eliminating  the  concept  of  extraordinary  items.   Extraordinary  items  are  events  and

transactions  that  are  distinguished  by  their  unusual  nature  and  by  the  infrequency  of  their  occurrence.

Eliminating   the   extraordinary   classification   simplifies   income   statement   presentation   by   altogether

removing the concept of extraordinary items from consideration. This ASU is effective for annual periods

beginning  after  December  15,  2015,  including  interim  periods  within  those  annual  periods.    An  entity

may  apply  this  ASU  prospectively  or  retrospectively  to  all  prior  periods  presented  in  the  financial

statements.  Early  adoption  is  permitted.   The  Company  does  not  expect  the  amendments  in  this  ASU  to

have any impact on its financial statements.

In  November  2015,  an  ASU  was  issued  to  simplify  the  presentation  of  deferred  income  taxes.    The

amendments  in  this  ASU  require  that  deferred  tax  liabilities  and  assets  be  classified  as  non-current  in  a

classified  balance  sheet  as  compared  to  the  current  requirements  to  separate  deferred  tax  liabilities  and

assets  into  current  and  non-current  amounts.   This  ASU  is  effective  for  annual  periods  beginning  after

December   15,   2016,   including   interim   periods   within   those   annual   periods.   Earlier   application   is

permitted.    This  ASU  may  be  applied  either  prospectively  to  all  deferred  tax  liabilities  and  assets  or

retrospectively  to  all  periods  presented.    The  Company  is  currently  evaluating  this  guidance  and  the

impact it will have on its financial statements.

In  February  2016,  Topic  842,  Leases  was  issued  to  replace  the  leases  requirements  in  Topic  840,  Leases.

The  main  difference  between  previous  GAAP  and  Topic  842  is  the  recognition  of  lease  assets  and  lease

liabilities by lessees for those leases classified as operating leases under  previous GAAP. A lessee should

recognize  in  the  balance  sheet  a  liability  to  make  lease  payments  (the  lease  liability)  and  a  right-of-use

asset  representing  its  right  to  use  the  underlying  asset  for  the  lease  term.  For  leases  with  a  term  of  12

months  or  less,  a  lessee  is  permitted  to  make  an  accounting  policy  election  by  class  of  underlying  asset

not  to recognize  lease  assets  and  lease  liabilities.  If  a  lessee  makes  this  election,  it  should  recognize  lease

expense for such leases generally on a straight-line basis over the lease term.  The accounting applied by a

lessor  is  largely  unchanged  from  that  applied  under  previous  GAAP.    Topic  842  will  be  effective  for

annual  reporting  periods  beginning  after  December  15,  2018,  including  interim  periods  within  those

annual  periods  and  is  to  be  retrospectively  applied.   Earlier  application  is  permitted.   The  Company  is

currently evaluating this guidance and the impact it will have on its financial statements.

F-8




NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Continued

RECENTLY ISSUED ACCOUNTING STANDARDS - continued

In  March  2016,  an  ASU  was  issued  to  reduce  complexity  in  the  accounting  for  employee  share-based

payment  transactions.   One  of  the  simplifications  relates  to  forfeitures  of  awards.   Under  current  GAAP,

an entity estimates the number of awards for which the requisite service period is expected to be rendered

and base the accruals of compensation cost on the estimated number of awards that will vest.  This ASU

permits  an  entity  to  make  an  entity-wide  accounting  policy  election  either  to  estimate  the  number  of

forfeitures expected to occur or to account for forfeitures in compensation cost when they occur.

This  ASU  is  effective  for  annual  periods  beginning  after  December  15,  2016,  including  interim  periods

within  those  annual  periods.   Earlier  application  is  permitted.   The  Company  is  currently  evaluating  this

guidance and the impact it will have on its financial statements.

NOTE 3 -INCOME TAXES

Deferred  income   taxes  arise  from  temporary  differences   resulting  from  income   and   expense   items

reported  for  financial  accounting  and  tax  purposes  in  different  periods.  Deferred  taxes  are  classified  as

current  or  non-current,  depending  on  the  classification  of  assets  and  liabilities  to  which  they  relate.

Deferred taxes arising from temporary differences that are not related to an asset or liability are classified

as  current  or  non-current  depending  on  the  periods  in  which  the  temporary  differences  are  expected  to

reverse.   The company does not have any uncertain tax positions.

The Company currently has net operating loss carry forwards aggregating $82,012 (2016: $63,551),

which expire through 2030. The deferred tax asset related to the carry forwards has been fully reserved.

The Company has deferred income tax assets, which have been fully reserved, as follows as of March 31,

2017:

Mar 31, 2017

Mar 31, 2016

Deferred tax assets

$

27,884

$   21,607

Valuation allowance for deferred tax assets

(27,884)

$  (21,607)

Net deferred tax assets

$

-

-

NOTE 4 FAIR VALUE MEASUREMENTS

The  Company  adopted  ASC  No.  820-10  (ASC  820-10),  Fair  Value  Measurements.  ASC  820-10  relates

to financial assets and financial liabilities.

ASC  820-10  defines fair  value, establishes  a framework for  measuring fair  value in  accounting principles

generally  accepted  in  the  United  States  of  America  (GAAP),  and  expands  disclosures  about  fair  value

measurements.  The  provisions  of  this  standard  apply  to  other  accounting  pronouncements  that  require  or

permit fair value measurements and are to be applied prospectively with limited exceptions.

ASC  820-10  defines  fair  value  as  the  price  that  would  be  received  to  sell  an  asset  or  paid  to  transfer  a

liability  in  an  orderly  transaction  between  market  participants  at  the  measurement  date.  This  standard  is

now the single source in GAAP for the definition of fair value, except for the fair value of leased property

as defined in SFAS 13. ASC 820-10 establishes a fair value hierarchy that distinguishes between

F-9




NOTE 4 FAIR VALUE MEASUREMENTS Continued

(1) market  participant  assumptions  developed  based  on  market  data  obtained  from  independent  sources

(observable  inputs)  and  (2) an  entitys  own  assumptions,  about  market  participant  assumptions,  that  are

developed  based  on  the  best  information  available  in  the  circumstances  (unobservable  inputs).  The  fair

value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices

in active markets for identical assets or liabilities (Level  1) and the lowest  priority to unobservable inputs

(Level 3). The three levels of the fair value hierarchy under ASC 820-10 are described below:

Level 1      Unadjusted quoted prices in active markets that are accessible at the measurement date

for identical, unrestricted assets or liabilities.

 

Level 2      Inputs other than quoted prices included within Level 1 that are observable for the asset

or liability, either directly or indirectly, including quoted prices for similar assets or

liabilities in active markets; quoted prices for identical or similar assets or liabilities in

markets that are not active; inputs other than quoted prices that are observable for the

asset or liability (e.g., interest rates); and inputs that are derived principally from or

corroborated by observable market data by correlation or other means.

 

Level 3

Inputs that are both significant to the fair value measurement and   unobservable. These

inputs rely on management's own assumptions about the assumptions that market

participants would use in pricing the asset or liability. (The unobservable inputs are

developed based on the best information available in the circumstances and include the

Company's own data.)

The following presents the Company's fair value hierarchy for those assets and liabilities measured at fair

value on a non-recurring basis as of March 31, 2017 and March 31, 2016:

Level 1: None

Level 2: None

Level 3: None

Total Gain (Losses): None

NOTE 5 - RELATED PARTY TRANSACTIONS

A director has advanced funds to us for our legal, audit, filing fees, general office administration and cash

needs. As of March 31, 2017, the director has advanced a total  of $14,923  (2016:  $13,203). The advances

are without  specific terms of repayment.  Imputed interest  of $1,107 and $1,543  was charged to additional

paid in capital during the year ended March 31, 2017 and March 31, 2016, respectively.

A related entity has advanced funds to us for our legal, audit, filing fees, general office administration and

cash needs. As of March 31, 2017, the related entity has advanced a total of $37,970 (2016: $21,500). The

advances  are  without  specific  terms  of  repayment.  Imputed  interest  of  $2,386  and  nil  was  charged  to

additional paid in capital during the three year ended March 31, 2017 and March 31, 2016, respectively.

F-10




NOTE 6 - COMMON STOCK

On February 14, 2013, the Company issued 5,000,000  common  shares  to  Myroslav  Tsapaliuk,  the

founder of the Company.

On December 12, 2013, the Company issued 650,000 common shares in a registered offering to

subscribers for total proceeds of $26,001.

As of March 31, 2017, the Company has 5,650,000 common shares issued and outstanding.

NOTE 7 SUBSEQUENT EVENT

The  Company has  evaluated  subsequent  events from the  balance sheet  date  through  the  date the  financial

statements were issued and has determined that there are no events to disclose.

F-11




ITEM 9.

CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON

ACCOUNTING AND FINANCIAL DISCLOSURE

Not applicable.

ITEM 9A.

CONTROLS AND PROCEDURES

Disclosure Controls and Procedures

In connection with the preparation of this annual report, an evaluation was carried out by the Companys

management, with the participation of the chief executive officer and the chief financial officer, of the

effectiveness of the Companys disclosure controls and procedures (as defined in Rules 13a-15(e) and

15d-15(e) under the Securities Exchange Act of 1934 (Exchange Act)) as of March 31, 2017.

Disclosure controls and procedures are designed to ensure that information required to be disclosed in

reports filed or submitted under the Exchange Act is recorded, processed, summarized, and reported

within the time periods specified in the Commissions rules and forms, and that such information is

accumulated and communicated to management, including the chief executive officer and the chief

financial officer, to allow timely decisions regarding required disclosures.

Based on that evaluation, the Companys management concluded, as of the end of the period covered by

this report, that the Companys disclosure controls and procedures were not effective in recording,

processing, summarizing, and reporting information required to be disclosed, within the time periods

specified in the Commissions rules and forms, and such information was not accumulated and

communicated to management, including the chief executive officer and the chief financial officer, to

allow timely decisions regarding required disclosures.

Management's Annual Report on Internal Control over Financial Reporting

The Companys management is responsible for establishing and maintaining adequate internal control

over financial reporting. The Companys internal control over financial reporting is a process, under the

supervision of the chief executive officer and the chief financial officer, designed to provide reasonable

assurance regarding the reliability of financial reporting and the preparation of the Companys financial

statements for external purposes in accordance with United States generally accepted accounting

principles (GAAP). Internal control over financial reporting includes those policies and procedures that:

§     Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the

transactions and dispositions of the Companys assets.

§     Provide reasonable assurance that transactions are recorded as necessary to permit preparation of

the financial statements in accordance with generally accepted accounting principles, and that

receipts and expenditures are being made only in accordance with authorizations of management

and the board of directors.

§     Provide reasonable assurance regarding prevention or timely detection of unauthorized

acquisition, use, or disposition of the Companys assets that could have a material effect on the

financial statements.

Due to 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.

15




The Companys management conducted an assessment of the effectiveness of our internal control over

financial reporting as of March 31, 2017, based on criteria established in Internal Control Integrated

Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013),

to determine whether there existed material weaknesses in internal control over financial reporting.

A material weakness is a control deficiency, or a combination of deficiencies in internal control over

financial reporting that creates a reasonable possibility that a material misstatement  in annual or interim

financial statements will not be prevented or detected on a timely basis. The assessment identified a

material weakness in internal control over financial reporting. Since the assessment of the effectiveness of

our internal control over financial reporting did identify a material weakness, management considers its

internal control over financial reporting to be ineffective.

The matters involving internal control over financial reporting that management considers to be material

weaknesses are: The matters involving internal control over financial reporting that our management

considered to be material weaknesses were:

Lack of Appropriate Independent Oversight.  The board of directors has not provided an appropriate level

of oversight of the Companys financial reporting and procedures for internal control over financial

reporting during the annual period, since it has only one independent directors that could have provided

an appropriate level of oversight, including challenging managements accounting for and reporting of

transactions. While this control deficiency did not result in any audit adjustments to our 2017 interim or

annual financial statements, it could have resulted in material misstatements that might have been

prevented or detected by independent oversight. Accordingly, we determined that this control deficiency

as of March 31, 2017, constituted a material weakness.

Failure to Segregate Duties. The board of directors has not maintained any segregation of duties within

the Companys management, instead relying on a single individual to fill the role of chief executive

officer, chief financial officer and principal accounting officer, responsible for a broad range of duties that

cannot be properly reconciled with a singular management resource.  Accordingly, we determined that

this control deficiency as of March 31, 2017, constituted a material weakness.

Insufficient Accounting Resources. The board of directors has insufficient internal accounting resources,

with an acceptable knowledge of US GAAP processes, to oversee the Companys financial reporting and

procedures for internal control. Accordingly, we determined that this control deficiency as of March 31,

2017, constituted a material weakness.

US GAAP Knowledge. The board of directors has engaged an external consultant to counter the internal

lack of US GAAP knowledge however the effectiveness of the external consultant is affected by the

Companys lack of sufficient internal accounting resources. Accordingly, we determined as of March 31,

2017, that the internal lack of US GAAP knowledge is part of the material weaknesses as stated above.

Managements Remediation Initiatives

Due to the material weaknesses in internal control over financial reporting described above, the

Companys management has concluded that, as of March 31, 2017, that the Companys internal control

over financial reporting was not effective based on the criteria in Internal Control Integrated

Framework issued by the COSO. The Company intends to remedy its material weaknesses by:

16




     forming an audit committee made up of non-managerial directors that will oversee management at

such time as the board of directors is enlarged in response to acquiring or developing a given

business opportunity.

     engaging an individual to serve as chief financial officer and principal accounting officer to

segregate the duties of chief executive officer and chief financial officer in response to acquiring or

developing a given business opportunity.

     bolstering internal accounting resources through contracting an individual with a working

knowledge of GAAP accounting in response to acquiring or developing a given business

opportunity.

The aforementioned material weaknesses were identified by our chief executive officer and chief

financial officer in connection with his review of our financial statements as of March 31, 2017.

Management believes that the material weakness set forth above did not have an effect on our financial

results. However, management believes that the weaknesses identified above could result in ineffective

application of required internal controls over financial reporting, which weakness could result in a

material misstatement in our financial statements in future periods.

Attestation Report

This annual report does not include an attestation report of our independent registered public accounting

firm regarding internal control over financial reporting.  We were not required to have, nor have we,

engaged our independent registered public accounting firm to perform an audit of internal control over

financial reporting pursuant to the rules of the Commission that permit us to provide only managements

report in this annual report.

Changes in internal control over financial reporting

During the quarter ended March 31, 20177, there have been no changes in internal control over financial

reporting that have materially affected, or are reasonably likely to materially affect our internal control

over financial reporting except in connection with the appointment of a new independent member of the

board of directors.

9B.

OTHER INFORMATION

Not applicable.

17




PART III

ITEM 10.

DIRECTORS, EXECUTIVE OFFICERS, AND CORPORATE GOVERNANCE

Officers and Directors

The following table sets forth the name, age and position of each director and executive officer of the

Company:

Name

Age

Position

Myroslav Tsapaliuk

57

Director, Chief Executive Officer, Chief Financial

Officer, Principal Accounting Officer

Shawn Teigen

44

Former Director

Set forth below is a brief description of the background and business experience of each of our executive

officers and directors for the past five years:

Myroslav Tsapaliuk has served as chief executive officer, chief financial officer, principal accounting

officer and director since February 19, 2013.

Business Experience

Mr. Tsapaliuk brings years of experience in sourcing, marketing and installing granite products. Since

August of 1997 to date he has acted as the sole proprietor of FOP Tsapaliuk Myroslav, a private entity

that operates in Ukraine. FOP Tsapaliuk Myroslav provides services for the installation of granite

counter-tops, tiles and fire places.

Officer and Director Responsibilities and Qualifications

Mr. Tsapaliuk is responsible for the overall management of the Company. His experience in granite

products and his actions as founder qualify him for his responsibilities to the Company.

Other Public Company Directorships in the Last Five Years

Mr. Tsapaliuk has not been a director of any other public companies in the last five years.

Shawn Teigen served as a director from February 24, 2016 to October 27, 2016.

Business Experience

Shawn Teigen is the research director at the Utah Foundation, a pu October 27, 2017 blic policy research

organization that focuses on a wide range of issues including education, taxes, and voting. He has been

employed at the Utah Foundation since 2012. Prior to his present employment, Mr. Teigen worked as an

independent consultant for Orsa & Company, a business consulting firm that advises early-stage

businesses in the public and private sectors. Services ranged from guidance on disclosure issues to

managerial duties that included working with government regulators, business organizations, auditors,

accountants, attorneys and quasi-public governing bodies. He currently serves as a director of several

private entities which operations include energy production, immigration related investments, national

research and civic responsibility for Salt Lake City.

18




Mr. Teigen served two years for the U.S. Peace Corp in Kazakhstan between 2002 -2004.

Officer and Director Responsibilities and Qualifications

Mr. Teigen was responsible for overseeing the management of the Company and for assisting our chief

executive officer in the review of public disclosure materials.

Mr. Teigen holds a Master of Public Policy and a BS in Management from the University of Utah.

Other Public Company Directorships in the Last Five Years

Mr. Teigen served as a director of Infrastructure Developments Corp. a public company that operates as a

distributor of mobile homes and offices between April 2010, and September 2013.

Effective as of October 27, 2016, Mr. Shawn Teigen resigned as a director and treasurer of UA Granite

Corporation.

Family Relationships

None.

Involvement in Certain Legal Proceedings

During the past ten years there are no events that occurred related to an involvement in legal proceedings

that are material to an evaluation of the ability or integrity of the Companys directors, or persons

nominated to become directors or executive officers.

Term of Office

Our directors were appointed for a one (1) year term to hold office until the next annual meeting of our

shareholders or until removed from office in accordance with our bylaws. Our sole officer was appointed

by our board of directors and will hold office until removed by the board of directors or upon his tender of

resignation.

No other persons are expected to make any significant contributions to the Companys executive

decisions who are not executive officers or directors of the Company.

Compliance with Section 16(A) of the Exchange Act

Section 16(a) of the Securities Exchange Act of 1934 requires officers and directors and persons who own

more than ten percent of a registered class of our equity securities to file reports of ownership and

changes in their ownership with the Commission, and forward copies of such filings to us. Based solely

upon a review of Forms 3, 4 and 5 furnished to us, we are not aware of any persons who, during the

period ended March 31, 2017, failed to file, on a timely basis, reports required by Section 16(a) of the

Exchange Act except the following:

-

Shawn Teigen failed to file a Form 3 or Form 5 in connection with his appointment and

resignation to the board of directors.

19




Code of Ethics

The Company has not adopted a code of ethics within the meaning of Item 406(b) of Regulation S-K of

the Securities Exchange Act of 1934 that applies to directors and senior officers, such as the principal

executive officer, principal financial officer, controller, and persons performing similar functions.

Board of Directors Committees

The board of directors has not established an audit committee. An audit committee typically reviews, acts

on and reports to the board of directors with respect to various auditing and accounting matters, including

the recommendations and performance of independent auditors, the scope of the annual audits, fees to be

paid to the independent auditors, and internal accounting and financial control policies and procedures.

Since we do not have an audit committee, these functions are performed by our sole director. Certain

stock exchanges currently require companies to adopt a formal written charter that establishes an audit

committee that specifies the scope of an audit committees responsibilities and the means by which it

carries out those responsibilities. In order to be listed on any of these exchanges, the Company would be

required to establish an audit committee.

The board of directors has similarly not established a nominating committee, compensation committee or

compliance and ethics committee in the belief that such committees are not necessary since the Company

has only one director, and to date, such director has been performing the functions of such committees.

Director Compensation

Our directors are not reimbursed for out-of-pocket costs incurred in attending meetings or for his services

as a director of the Company.

ITEM 11.

EXECUTIVE COMPENSATION

Compensation Discussion and Analysis

The objective of the Companys compensation program is to provide an incentive to our chief executive

officer and chief financial officer for services rendered. The incentive for his service lies in his being the

Companys largest shareholder and is adequate to retain him at this stage of our development.

Nonetheless, when we develop or acquire an existing business opportunity our intention in respect to

executive compensation would be to compensate Company executives in accordance with compensatory

packages typical of other early stage companies. We do not expect to rely on any specific formula to

determine future compensation. Future compensation arrangements for Company executives will most

likely include salaries, stock awards and stock options.

Executive compensation paid to our chief executive officer and chief financial officer for the periods

ended March 31, 2017, and March 31, 2016, were $nil and $nil respectively.

Table

The following table provides summary information for 2017 and 2016 concerning cash and non-cash

compensation paid or accrued by the Company to or on behalf of (i) the chief executive officer and the

chief financial officer and (ii) any other employee to receive compensation in excess of $100,000.

20




Summary Compensation Table

Name and

Year     Salary     Bonus

Stock

Option

Non-Equity

Change in Pension

All Other

Total

Principal

($)

($)

Awards      Awards

Incentive Plan

Value and

Compensation

($)

Position

($)

($)

Compensation

Nonqualified

($)

($)

Deferred

Compensation

($)

Myroslav

2017

-

-

-

-

-

-

-

-

Tsapaliuk

2016

-

-

-

-

-

-

-

-

CEO, CFO,

PAO, and

Director

Outstanding Equity Awards as of March 31, 2017

The following table provides summary information for the period March 31, 2017, concerning

unexercised options, stock that has not vested, and equity incentive plan awards by the Company to or on

behalf of (i) the chief executive officer and chief financial officer and (ii) the three most highly

compensated individuals whose total compensation exceeds $100,000:

Outstanding Equity Awards at Fiscal Year-End

Option awards

Stock awards

Equity

incentive

plan

Equity

awards:

incentive

Number

Equity

market or

plan

of

incentive plan    payout

awards:

shares

Market

awards:

value of

Number of

number of

or units

value of

number of

unearned

securities

Number of

securities

of stock      shares or

unearned

shares,

underlying

securities

underlying

that

units of

shares, units or  units or

unexercised     underlying

unexercised     Option

have

stock that      other rights

other rights

options

unexercised

unearned

exercise     Option

not

have not

that have not      that have

(#)

options

options

price

expiration    vested

vested(6)

vested

not vested

Name

exercisable      (#) exercisable

(#)

($)

date

(#)

($)

(#)

($)

Myroslav

-

-

-

-

-

-

-

-

-

Tsapaliuk

Compensation of Directors

The following table summarizes the compensation of our Company directors for the year ended March

31, 2017:

Fees

Non-qualified

Earned

Non- Equity

Deferred

or

Stock

Option

Incentive Plan     Compensation

All Other

Paid in     Awards      Awards

Compensation

Earnings

Compensation

Total

Name

Cash

($)

($)

($)

($)

($)

($)

($)

Myroslav Tsapaliuk

-

-

-

-

-

-

-

Shawn Teigen(1)

$500

-

-

-

-

-

$500

(1)Shawn Teigen was appointed on February 24, 2016.

21




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 (1) as at July 12, 2017 by: (i) our directors, (ii) each of our executive officers, (iii) our

executive officers and directors as a group, and (iv) each beneficial shareholder known to us to own more

than 5% of our outstanding common stock. Unless otherwise indicated, the shareholders listed possess

sole voting and investment power with respect to the shares shown.

Name and Address

Number of Common

Percentage of

Title of Class

of Beneficial Owner

Shares

Common Shares(1)

Common Stock

Myroslav Tsapaliuk, CEO, CFO, PAO and director

10 Bogdan Khmelnitsky Street, # 13A

5,000,000

88.5

Kiev 01030, Ukraine

(1)

Under Commission Rule 13d-3, a beneficial owner of a security includes any person who, directly or indirectly,

through any contract, arrangement, understanding, relationship, or otherwise has or shares: (i) voting power, which

includes the power to vote, or to direct the voting of shares; and (ii) investment power, which includes the power to

dispose or direct the disposition of shares. Certain shares may be deemed to be beneficially owned by more than one

person (if, for example, persons share the power to vote or the power to dispose of the shares). In addition, shares are

deemed to be beneficially owned by a person if the person has the right to acquire the shares (for example, upon

exercise of an option) within 60 days of the date as of which the information is provided. In computing the percentage

ownership of any person, the amount of shares outstanding is deemed to include the amount of shares beneficially

owned by such person (and only such person) by reason of these acquisition rights. As a result, the percentage of

outstanding shares of any person as shown in this table does not necessarily reflect the persons actual ownership or

voting power with respect to the number of shares of common stock actually outstanding on June 29, 2017. The

percentage calculations are based on the aggregate of 5,650,000 shares issued and outstanding as of June 29, 2017.

ITEM 13.

CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND

DIRECTOR INDEPENDENCE

Certain Relationships and Related Transactions

None of our directors or executive officers, nor any proposed nominee for election as a director, nor any

person who beneficially owns, directly or indirectly, shares carrying more than 5% of the voting rights

attached to all of our outstanding shares, nor any members of the immediate family (including spouse,

parents, children, siblings, and inlaws) of any of the foregoing persons has any material interest, direct

or indirect, in any transaction since the beginning of our last fiscal year or in any presently proposed

transaction which, in either case, has or will materially affect us.

Director Independence

Our common stock is quoted on the OTC Pink Sheets.  As such, we are not currently subject to corporate

governance standards of listed companies, which require, among other things, that the majority of the

board of directors be independent. Since we are not currently subject to corporate governance standards

relating to the independence of our directors, we choose to define an independent director in accordance

with NASDAQ Marketplace Rule 5605(a)(2)).  The NASDAQ independence definition includes a series

of objective tests, such as that the director is not an employee of the company and has not engaged in

various types of business dealings with the company. The Company has one independent director under

the above definition.

22




ITEM 14.

PRINCIPAL ACCOUNTANT FEES AND SERVICES

The following table sets forth information regarding the amount billed to us by our independent  auditor,

M & K CPAS, PLLC, for our fiscal years ended March 31, 2017 and 2016:

Years ended March 31

2017

2016

Audit Fees:

$

7,460

$

7,100

Audit Related Fees:

-

-

Tax Fees:

-

-

All Other Fees:

-

-

Total:

$

7,460

$

7,100

Audit Fees

Audit Fees are the aggregate fees billed by our independent auditor for the audit of our annual financial

statements and attestation services that are provided in connection with statutory and regulatory filings or

engagements.

Audit-Related Fees

Audit-Related Fees are fees charged by our independent auditor for assurance and related services that are

reasonably related to the performance of the audit or review of our financial statements and are not

reported under "Audit Fees." This category comprises fees billed for independent accountant review of

our interim financial statements and management discussion and analysis, as well as advisory services

associated with our financial reporting.

Policy on Pre-Approval by Audit Committee of Services Performed by Independent Auditors

The Companys board of directors pre-approves all audit services to be provided to us by our independent

auditors. Our Companys policy regarding the pre-approval of non-audit services to be provided to us by

our independent auditors is that all such services shall be pre-approved by the board of directors. Non-

audit services that are prohibited to be provided by our independent auditors may not be pre-approved. In

addition, prior to the granting of any pre-approval, our board of directors must be satisfied that the

performance of the services in question will not compromise the independence of the auditors.

23




PART IV

ITEM 15.

EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

(a) Financial Statements

The following documents are filed under Item 8. Financial Statements and Supplementary Data, pages

F-1 through F-12, and are included as part of this Form 10-K:

Financial Statements of the Company for the years ended March 31, 2017 and 2016:

Report of Independent Registered Public Accounting Firm

Balance Sheets

Statements of Operations

Statement of Stockholders Equity (Deficit)

Statements of Cash Flows

Notes to Financial Statements

(b) Exhibits

The exhibits required to be attached by Item 601 of Regulation S-K are listed in the Index to Exhibits on

page 26 of this Form 10-K, and are incorporated herein by this reference.

(c) Financial Statement Schedules

We are not filing any financial statement schedules as part of this Form 10-K because such schedules are

either not applicable or the required information is included in the financial statements or notes thereto.

24




SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant

has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

UA Granite Corporation

By:     /s/ Myroslav Tsapaliuk

Myroslav Tsapaliuk, Chief Executive Officer,

Chief Financial Officer, Principal Accounting

Officer

Date:  July 12, 2017

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by

the following person on behalf of the registrant and in the capacities and on the dates indicated.

By:     /s/ Myroslav Tsapaliuk

Myroslav Tsapaliuk

Director

Date:  July 12, 2017

25




EXHIBIT INDEX

Exhibit

Description

3.1*

Articles of Incorporation (incorporated by reference to the Companys Form S-1 filed

with the Commission on June 18, 2013).

3.2*

Bylaws (incorporated by reference to the Companys Form S-1 filed with the

Commission on June 18, 2013).

31

Certification of the Chief Executive Officer and Chief Financial Officer pursuant to Rule

13a-14 of the Securities and Exchange Act of 1934, as amended, as adopted pursuant to

Section 302 of the Sarbanes-Oxley Act of 2002.

32

Certification of the Chief Executive Officer and Chief Financial Officer pursuant to 18

U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of

2002.

101. INS

XBRL Instance Document

101. PRE

XBRL Taxonomy Extension Presentation Linkbase

101. LAB

XBRL Taxonomy Extension Label Linkbase

101. DEF

XBRL Taxonomy Extension Label Linkbase

101. CAL

XBRL Taxonomy Extension Label Linkbase

101. SCH

XBRL Taxonomy Extension Schema

*

Incorporated by reference to previous filings of the Company.

Pursuant to Rule 406T of Regulation S-T, these interactive data files are deemed

furnished and not filed or part of a registration statement or prospectus for purposes

of Section 11 or 12 of the Securities Act of 1933, or deemed furnished and not filed

for purposes of Section 18 of the Securities and Exchange Act of 1934, and otherwise is

not subject to liability under these sections.

Exhibit 31

26




CERTIFICATION OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER

PURSUANT TO RULE 13a-14 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED,

AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Myroslav Tsapaliuk certify that:

1. I have reviewed this report on Form 10-K of UA Granite Corporation;

2. Based on my knowledge, this 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 registrants other certifying officer(s) 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 the Exchange Act Rules 13a-15(f) and 15d-15(f)

for the registrant and have:

a)    Designed such disclosure controls and procedures, or caused such disclosure controls and

procedures to be designed under our supervision, to ensure that material information relating to

the registrant, is made known to us by others within those entities, particularly during the period

in which this report is being prepared;

b)    Designed such internal control over financial reporting, or caused such internal control over

financial reporting to be designed under our supervision, to provide reasonable assurance

regarding the reliability of financial reporting and the preparation of financial statements for

external purposes in accordance with generally accepted accounting principles;

c)    Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in

this report our conclusions about the effectiveness of the disclosure controls and procedures, as of

the end of the period covered by this report based on such evaluation; and

d)    Disclosed in this report any change in the registrants internal control over financial reporting that

occurred during the registrants most recent fiscal quarter (the registrants fourth fiscal quarter in

the case of an annual report) that has materially affected, or is reasonably likely to materially

affect, the registrants internal control over financial reporting; and

5. 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):

a)    All significant deficiencies and material weaknesses in the design or operation of internal controls

over financial reporting which are reasonably likely to adversely affect the registrant's ability to

record, process, summarize and report financial information; and

b)    Any fraud, whether or not material, that involves management or other employees who have a

significant role in the registrant's internal controls over financial reporting.

Date: July 12, 2017

/s/ Myroslav Tsapaliuk

Myroslav Tsapaliuk

Chief Executive Officer and Chief Financial Officer

27




Exhibit 32

CERTIFICATION OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER

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 report on Form 10-K of UA Granite Corporation for the annual period ended

March 31, 2017, as filed with the Securities and Exchange Commission on the date hereof, I, Myroslav

Tsapaliuk, do hereby certify, 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:

(1)  This report fully complies with the requirements of section 13(a) or 15(d) of the Securities

Exchange Act of 1934; and

(2)  The information contained in this report fairly represents, in all material respects, the financial

condition of the registrant at the end of the period covered by this report and results of operations

of the registrant for the period covered by this report.

Date: July 12, 2017

/s/ Myroslav Tsapaliuk

Myroslav Tsapaliuk

Chief Executive Officer and Chief Financial Officer

This certification accompanies this report pursuant to §906 of the Sarbanes-Oxley Act of 2002 and shall

not, except to the extent required by the Sarbanes-Oxley Act of 2002, be deemed filed by the registrant

for the purposes of §18 of the Securities Exchange Act of 1934, as amended. This certification shall not

be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the

Securities Exchange Act of 1934, as amended (whether made before or after the date of this report),

irrespective of any general incorporation language contained in such filing.

A signed original of this written statement required by §906 has been provided to the registrant and will

be retained by the registrant and furnished to the Securities and Exchange Commission or its staff upon

request.

28