Business description of ARTELO-BIOSCIENCES-INC from last 10-k form

Part I

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this report, including statements regarding our business, financial condition, our intent, belief or current expectations, primarily with respect to the future operating performance of the Company and other statements contained herein regarding matters that are not historical facts, are "forward-looking" statements. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as "may," "will," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential," or "continue" or the negative of these similar terms. Future filings with the Securities and Exchange Commission, future press releases and future oral or written statements made by us or with our approval, which are not statements of historical fact, may contain forward-looking statements. Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.

All forward-looking statements speak only as of the date on which they are made.  We undertake no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they are made, except as required by federal securities and any other applicable law.

Item 1. Business.

Knight Knox Development Corp. was incorporated in the State of Nevada on May 2, 2011, and our fiscal year end is August 31.  The company's address is, Kemp House, City Road, London, England EC1V 2NX.  Our telephone number is 1-800-902-278.

Knight Knox Development Corp. has no revenues, and has only limited cash on hand.  We have sustained losses since inception and have relied solely upon the sale of our securities for funding.

 

Knight Knox Development Corp. plans to develop an online business using our domain www.offeritnow.com that will enable business and individuals to post their products and services for sale on the website for European and American markets.  Customers can advertise items for sale by either of the following methods:

The classified section

The classified section will offer different types of categories of goods and services.  Businesses or individuals will be able to post their good or service under the category of their choosing and offer for sale at whatever price they chose.   Visitors to the website will be able to select a category to search for a desired product or service, and purchase it using our website.  We will charge a 5% transaction fee to our customer for each purchase made on our website of their product or service.

 

Auction section

The auction section will be similar to that of the classified section by offering different types of categories of goods and services.  Businesses or individuals will also be able to post their good or service under the category of their choosing, but instead of offering it for a certain price, visitors to the website will be able to place bids on the product or service for duration of the auction, as pre-determined by the seller.  The visitor with the highest bid at the end of the auction period will then have their credit card charged for the amount of the winning bid.   We will charge a 5% transaction fee to our customer for each purchase made on our website of their product or service.

The Company plans to generate revenue from the following methods:

 

•	Selling ad space to 3rd party websites once our website is fully operational.  The price will be determined at a later date based on the amount of interest and number of visitors will be able to attract to our website;
•	Charging a fee equal to 5% of the value of the good or service each time an item is sold from the "classified section";
•	Charging a fee equal to 5% of the value of the good or service each time a customer sells an item on the auction section of our website.

•

Selling ad space to 3^rd party websites once our website is fully operational.  The price will be determined at a later date based on the amount of interest and number of visitors will be able to attract to our website;

Charging a fee equal to 5% of the value of the good or service each time an item is sold from the "classified section";

Charging a fee equal to 5% of the value of the good or service each time a customer sells an item on the auction section of our website.

The website will offer secure registration, login details for each account holder, and automated email notification.  Paypal will be the payment gateway.

3

---

Knight Knox currently has no new publicly announced products or services other than the products it expects to sell on its website.

Barrier to entry in the industry is extremely low and there are many competitors.  Knight Knox intends to establish itself as a competitive company in the online advertising and auction of products and services.  Knight Knox's main competitors will be firms offering similar products.  Some of the online companies already established are:  www.vivastreet.ie and www.locanto.ie.  Other companies such as eBay and Amazon have significant presence in our potential marketplace, and may pose as serious competitors. 

As a new company compared to some of our competitors, they may have greater financial and marketing resources than do we and they may have a greater advantage to negotiate better discounts as they have been around longer. There are no assurances that our efforts to compete in the marketplace will be successful.

Knight Knox has hired an independent contractor to design and develop our website, and as well we will hire an independent contractor to do our marketing and advertising of our website.  There is no contract in place with the independent contractor for the development of the website, and the Company will be quoted as work is requested and invoiced when completed.  To date the Company has spent $2,430 on its website.

Knight Knox Development Corp. will be dependent on the website, social media and google adwords for finding customers.  Currently we have not yet acquired any customers since our website is not yet fully developed and operational and we have yet to begin any advertising and marketing.

There are no aspects of our business plan which require a patent, trademark, or product license. We have entered into one vendor agreement and have not entered into any other agreements of contracts that give or could give rise to any obligations or concessions.

We are not aware of any governmental regulations which would currently be material to our operations.

We have spent no time on specialized research and development activities, and have no plans to undertake any research or development in the future.

Knight Knox Development Corp. has no employees.  The sole officer and director is donating his time to the development of the company, and intends to do whatever work is necessary in order to bring us to the point of earning revenues.  We estimate that he will be able to complete his required work and complete whatever work is necessary by spending 20 hours per week without lending the Company additional funds.  If this is not the case and additional time and funds will be require then he is willing to commit additional time funds although he has no commitment or contractual obligation to do so.  We have no other employees, and do not foresee hiring any additional employees in the near future.  We will be engaging independent contractors to design and develop our website and manage our internet marketing efforts.