Company: ORIB
Filing Date: 2025-11-26
Form Type: 10-Q
Source: 0001683168-25-008685
Chunk: 7

Company: Orion Bliss Corp.
Filing Date: 2025-11-26
Form: 10-Q
Item: Item 1
Chunk 7
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 not expected to be realized.

Long-Lived Assets – Intangible Assets

We account for our intangible assets in accordance
with ASC Subtopic 350-30, General Intangibles Other Than Goodwill, and ASC Subtopic 360-10-05, Accounting for the Impairment or Disposal
of Long-Lived Assets. ASC Subtopic 350-30 requires assets to be measured based on the fair value of the consideration given or the fair
value of the assets (or net assets) acquired, whichever is more clearly evident and, thus, more reliably measurable. Further, ASC Subtopic
350-30 requires an intangible asset to be amortized over its useful life and for the useful life to be evaluated every reporting period
to determine whether events or circumstances warrant a revision to the remaining period of amortization. If the estimate of useful life
is changed the remaining carrying amount of the intangible asset is amortized prospectively over the revised remaining useful life. Costs
of internally developing, maintaining, or restoring intangible assets are recognized as an expense when incurred.

Basic Income (Loss) Per Share

The Company computes income (loss) per share in
accordance with FASB ASC 260 “Earnings per Share.” Basic loss per share is computed by dividing net income (loss) available
to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share
gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common
shares if their effect is anti-dilutive. As of October 31, 2025, there were no potentially dilutive debt or equity instruments issued
or outstanding.

Recent Accounting Pronouncements

We have reviewed all the recently issued, but
not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company.

     9 

Risks and Uncertainties

In December 2020, a novel strain of coronavirus
(COVID-19) emerged in Wuhan, Hubei Province, China. While initially the outbreak was largely concentrated in China and caused significant
disruptions to its economy, it has now spread to several other countries and infections have been reported globally.

The ultimate impact of the COVID-19 pandemic on
the Company’s operations is unknown and will depend on future developments, which are highly uncertain and cannot be predicted with
confidence, including the duration