Table of Contents

UNITED STATES


SECURITIES AND EXCHANGE COMMISSION


Washington, D.C. 20549

 

FORM 10-Q10-Q/A

 

( Mark One)Amendment No. 1

 

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the quarterly period ended JulyJanuary 31, 20222023 or

 

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from __________ to__________

  

Commission File Number: 333-161240

 

Kashin, Inc.

(Exact name of registrant as specified in it's charter)

 

Nevada 26-4711535
(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)
   
112 North Curry Street, Carson City, NV 89703-4934
(Address of principal executive offices) (Zip Code)

 

(626)(345) 429-2780938-5360

(Registrant's telephone number, including area code)

 

_____________________________________________________________ 

(Former name, former address and former fiscal year, if changed since last report)

 

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   ☒ No

 

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   ☒ No

Securities registered pursuant to Section 12(b) of the Exchange Act:

Title of each classTrading Symbol(s)Name of Exchange where registered
Common StockN/AN/A

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company or an emerging growth company. See the definitions of "large“large accelerated filer," "accelerated filer"” “accelerated filer,” “smaller reporting company” and "smaller reporting company"“emerging growth company” in Rule 12b-2 of the Exchange Act.Act:

 

Large accelerated filerAccelerated filer
Non-accelerated filerSmaller reporting company
(Do not check if a smaller reporting company)  Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

   

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

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS:

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court ☐ Yes   No

APPLICABLE ONLY TO CORPORATE ISSUERS:

 

As of December 10, 2022,June 17, 2023, the Company had 28,560,74553,560,745 common shares issued and outstanding.

 

 

   

 

 

EXPLANATORY NOTE

This Amendment No. 1 to the Quarterly Report on Form 10-Q is being filed due to the issuance of additional shares to Carl Maybin during the first quarter that were note forwarded to the accounting department for recordation thus having to amend all the reports to current.

TABLE OF CONTENTS

 

 

PART I—FINANCIAL INFORMATION  4 
      
Item 11.Financial Statements  4 
      
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations  810 
      
Item 3. Quantitative and Qualitative Disclosures About Market Risk  811 
      
Item 4. Controls and Procedures  911 
      
PART II—OTHER INFORMATION  12 
      
Item 1. Legal Proceedings  1012 
      
Item 1A. Risk Factors  1012 
      
Item 2.  Unregistered Sales of Securities and Use of Proceeds  1012 
      
Item 3.  Defaults Upon Senior Securities  1012 
      
Item 4.  Mine Safety Disclosures  1012 
      
Item 5.  Other Information  1012 
      
Item 6.  Exhibits  1112 
SIGNATURES13

 

 

 2 

 

 


KASHIN, INCINC.

 

CONDENSED FINANCIAL STATEMENTS

 

JulyJanuary 31, 20212023

 

Unaudited

 

 

CONDENSED BALANCE SHEETS 4 
    
CONDENSED STATEMENTS OF OPERATIONS 5 
    

CONDENSED STATEMENTS OF STOCKHOLDERS’ EQUITY

 6 
    
CONDENSED STATEMENTS OF CASH FLOWS 7 
    
NOTES TO UNAUDITED CONDENSED INTERIM AUDITED FINANCIAL STATEMENTS 8 

 

 

 

 

 3 

 

PART I. I—FINANCIAL INFORMATION

 

Item 1. Financial StatementsStatements.

  

KASHIN, INCINC.

 

CONDENSED BALANCE SHEETS

Unaudited

 

  July 31, 2022  April 30, 2022 
       
ASSETS        
         
CURRENT ASSETS        
Cash $0  $0 
TOTAL CURRENT ASSETS $0  $0 
         
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)        
         
CURRENT LIABILITIES        
Accounts payable and accrued liabilities $5,233  $4,876 
Other Payables  30,351   28,501 
Notes Payable  0   0 
TOTAL CURRENT LIABILITIES $35,584  $33,377 
         
STOCKHOLDERS' EQUITY (DEFICIT)        
Capital stock – Authorized 75,000,000 shares of common stock, $0.001 par value, issued and outstanding  28,561   28,561 
Additional Paid in Capital  494,019   494,019 
Accumulated deficit  (558,164)  (555,957)
TOTAL STOCKHOLDERS' EQUITY/(DEFICIT)  (35,584)  (33,377)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY/(DEFICIT) $0  $0 

       
  January 31, 2023  April 30, 2022 
       
ASSETS        
         
CURRENT ASSETS        
Cash $  $ 
TOTAL CURRENT ASSETS $  $ 
         
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)        
         
CURRENT LIABILITIES        
Accounts payable and accrued liabilities $1,547  $4,876 
Accounts payable - related party      
Notes Payable  40,386   28,501 
TOTAL CURRENT LIABILITIES $41,933  $33,377 
         
STOCKHOLDERS' EQUITY (DEFICIT)        
Capital stock - Authorized 75,000,000 shares of common stock, $0.001 par value, issued and outstanding 53,560,745 $53,561  $28,561 
Additional Paid in Capital  494,019   494,019 
Accumulated deficit  (589,513)  (555,957)
TOTAL STOCKHOLDERS' EQUITY/(DEFICIT)  (41,933)  (33,377)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY/(DEFICIT) $  $ 

 

 

The accompanying notes are an integral part of these financial statements

 

 

 4 

 

 

KASHIN, INCINC.

fka ONE CLEAN PLANET, INC.

 

CONDENSED STATEMENTS OF OPERATIONS

Unaudited

 

         
 

3 months

ended

 

3 months

ended

  

3 months

ended

 

3 months

ended

 

9 months

ended

 

9 months

ended

 
 July 31, 2022  July 31, 2021  January 31, 2023  January 31, 2022  January 31, 2023  January 31, 2022 
REVENUE                        
                        
Revenues $  $  $  $  $  $ 
Total Revenues                  
                        
EXPENSES                        
Business Licenses & Permits     3,641      3,641 
Office and general  2,207   357   457   357   3,500   1,071 
Professional Fees           960   30,375   12,960 
Payable Forgiveness     (4,945)  (319)  (4,945)
Total Expenses, before provision of income taxes  2,207   357   457   13   33,556   12,727 
                        
Provision for income taxes                  
                        
NET LOSS $(2,207) $(357) $(457) $(13) $(33,556) $(12,727
                        
BASIC AND DILUTED LOSS PER COMMON SHARE $  $  $  $  $  $ 
                        
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING  28,560,745   28,560,745   53,560,745   28,560,745   53,560,745   28,560,745 

 

The accompanying notes are an integral part of these financial statements

 

All share and per share information has been retrospectively restated to reflect the 35:1 reverse split

 

 

 

 5 

 

 

KASHIN, INCINC.

fka ONE CLEAN PLANET, INC.

 

CONDENSED STATEMENTS OF STOCKHOLDERS’ EQUITY

Unaudited

 

                                     
 Common Stock  Additional Paid-in  Share Subscriptions  Accumulated     Common Stock  Additional Paid-in  Share Subscriptions  Accumulated    
 Shares  Amount  Capital  Receivable  Deficit  Total  Shares  Amount  Capital  Receivable  Deficit  Total 
                          
Balance, April 30, 2021  28,560,745  $28,561  $494,019  $  $(534,073) $(11,493)  28,560,745  $28,561  $494,019  $  $(534,073) $(11,493)
                                                
Net profit (loss) for the period ended July 31, 2021              (357)  (357)              (357)  (357)
                                                
Balance, July 31, 2021  28,560,745  $28,561  $494,019  $  $(534,430) $(11,850)  28,560,745  $28,561  $494,019  $  $(534,430) $(11,850)
                                                
Net profit (loss) for the period ended October 31, 2021              (12,357)  (12,357)              (12,357)  (12,357)
                                                
Balance, October 31, 2021  25,680,745  $28,561  $494,019  $  $(546,787) $(24,207)  28,560,745  $28,561  $494,019  $  $(546,787) $(24,207)
                                                
Net profit (loss) for the period ended January 31, 2022              (13)  (13)              (13)  (13)
                                                
Balance, January 31, 2022  25,680,745  $28,561  $494,019  $  $(546,800) $(24,207)  28,560,745  $28,561  $494,019  $  $(546,800) $(24,207)
                                                
Net profit for the year ended April 30, 2022              (9,157)  (9,157)              (9,157)  (9,157)
                                                
Balance, April 30, 2022  28,560,745  $28,561  $494,019  $  $(555,957) $(33,377)  28,560,745  $28,561  $494,019  $  $(555,957) $(33,377)
                                                
Stock issued new  25,000,000   25,000            25,000 
Net profit for the year ended July 31, 2022              (2,207)  (2,207)              (27,207)  (27,207)
                                                
Balance, July 31, 2022  28,560,745  $28,561  $494,019  $  $(558,164) $(35,584)  53,560,745  $53,561  $494,019  $  $(583,164) $(35,584)
                        
Net profit for the year ended October 31, 2022              (5,892)  (5,892)
                        
Balance, October 31, 2022  53,560,745  $53,561  $494,019  $  $(589,056) $(41,476)
                        
Net profit for the period ended January 31, 2023              (457)  (457)
                        
Balance, January 31, 2023  53,560,745  $53,561  $494,019  $  $(589,513) $(41,933)

 

The accompanying notes are an integral part of these financial statements

All share and per share information has been retrospectively restated to reflect the 35:1 reverse split

 

 

 6 

 

 

KASHIN, INCINC.

fka ONE CLEAN PLANET, INC.

 

CONDENSED STATEMENTS OF CASH FLOWS

Unaudited

 

 3 months 3 months      
 ended ended  9 months 9 months 
 July 31, 2022  July 31, 2021  ended ended 
      January 31, 2023  January 31, 2022 
OPERATING ACTIVITIES                
Net loss $(2,207) $(357) $(33,556) $(12,727)
Adjustment to reconcile net loss to net cash used in operating activities:                
Stock issued for consulting services            
Expenses paid on company's behalf by related party  1,850      11,885   24,101 
Increase (decrease) in accounts payable  357   357   (3,329)  (11,374)
                
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES        (25,000)   
                
FINANCING ACTIVITIES                
Proceeds from sale of common stock        25,000    
Notes Payable            
Loan from Related Party            
                
NET CASH PROVIDED BY FINANCING ACTIVITIES        25,000    
                
NET INCREASE (DECREASE) IN CASH            
                
CASH, BEGINNING OF PERIOD            
                
CASH, END OF PERIOD $  $  $    
                
Supplemental cash flow & noncash financing activities:                
Common stock issued in exchange of payable assignment/settlement $  $  $  $ 
                
Cash paid for:                
Interest $  $  $  $ 
Income taxes $  $  $  $ 

 

The accompanying notes are an integral part of these financial statements

 

 

 7 

 

 

KASHIN, INC.

NOTES TO THE INTERIM FINANCIAL STATEMENTS

Unaudited

 

JulyJanuary 31, 20222023

 

NOTE 1 – CONDENSED FINANCIAL STATEMENTS

 

The accompanying financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at JulyJanuary 31, 2022,2023, and for all periods presented herein, have been made.

 

Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s April 30, 2022 audited financial statements. The results of operations for the periods ended JulyJanuary 31, 20222023 and the same period last year are not necessarily indicative of the operating results for the full years.

 


The Company changed its name on July 27, 2015 to Kashin, Inc. having received FINRA’s approval.

Since the company has been dormant for over two years, the company now has a Shell status.

 


NOTE 2 – GOING CONCERN

 

The Company’s financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern. This contemplates the realization of assets and the liquidation of liabilities in the normal course of business. Currently, the Company has a working capital deficit of $35,58441,933,, an accumulated deficit of $558,164589,513 and net loss from operations since inception of $558,164.$589,513. The Company does not have a source of revenue sufficient to cover its operation costs giving substantial doubt for it to continue as a going concern. The Company will be dependent upon the raising of additional capital through placement of our common stock in order to implement its business plan, or merge with an operating company. There can be no assurance that the Company will be successful in either situation in order to continue as a going concern. The Company funded its initial operations by way of issuing Founder’s shares.

 

The officers and directors have committed to advancing certain operating costs of the Company, including Legal, Audit, Transfer Agency and Edgarizing costs.

 

NOTE 3 – CAPITAL STOCK

 

The Company’s capitalization was reduced to 75,000,000 common shares with a par value of $0.001 per share, on July 27, 2015. No preferred shares have been authorized or issued.

 

As of JulyJanuary 31, 2022,2023, the Company has notnot granted any stock options and has not recorded any25,000,000 stock-based compensation.

 

On JulyJanuary 31, 2022, and on July 31, 20212023, the Company had 28,560,74553,560,745 common shares issued and outstanding and on April 30, 2022 the Company had 28,560,745common shares issued and outstanding.

8

 

NOTE 4 – RELATED PARTY TRANSACTIONS

 

The Company does not have any related party transactionstransactions.

 

NOTE 5 – RECENT ACCOUNTING PRONOUNCEMENTS

 

The company has evaluated all the recent accounting pronouncements and believes that none of them will have a material effect on the company’s financial statement.

 

NOTE 6 –SUBSEQUENT EVENTS

 

The Company has evaluated subsequent events from the balance sheet date through the date the financial statements were issuedmerged in Business With Friends in February 2023 and has determinedwill now commence generating revenues.

On May 6th Carl Maybin resigned as Officer and Director of KUSA and appointed Caren Currier as President and Director. Along with his resignation, Carl Maybin acknowledged that there arehe is no further events to disclose.longer owed any past compensation and forever cancels any and all indebtedness in both principal and interest.

 

 

 

 

 

 89 

 

 

 

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations.

 

This section of this report includes a number of forward-looking statements that reflect our current views with respect to future events and financial performance. Forward looking statements are often identified by words like: believe, expect, estimate, anticipate, intend, project and similar expressions or words which, by their nature, refer to future events. You should not place undue certainty on these forward-looking statements, which apply only as of the date of this report. These forward looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or our predictions.

 

Overview

 

On July 27, 2015, the Company approved and effected a name change to Kashin, Inc. Kashin, Inc. fka Singular Chef, Inc. ("the Company", "our" or "we") was incorporated in the State of Nevada as a for-profit company on April 09, 2009. The Company is a development stage company that intends to provide specialized step-by-step cooking tutorials through the website we are currently developing for monthly subscribers and on pay-per-view basis.

 

Results of Operations

 

The Company has not yet generated any revenue from its operations and has generated no revenues unrelated to its operations. Expenses for the three months ended JulyJanuary 31, 2022,2023, were $2,207$457 resulting in a net loss of $2,207$457 as compared to expenses for the three months ended JulyJanuary 31, 20212022 of $357$13 resulting in a net loss of $357.$13. The net loss of $2,207$457 for the three months ended JulyJanuary 31, 2023 is a result of Revenues of $Nil, Office and general expenses of $457 consisting primarily of transfer agent fees, business and license expenses of $NIL and Professional Fees of $NIL along with a Debt Forgiveness of $NIL as compared to the net loss of $13 for the three months ended January 31, 2022.

The Company has not yet generated any revenue from its operations and has generated no revenues unrelated to its operations. Expenses for the nine months ended January 31, 2023, were $33,556 resulting in a net loss of $33,556 as compared to expenses for the nine months ended January 31, 2022 of $12,727 resulting in a net loss of $12,727. The net loss of $12,727 for the nine months ended January 31, 2022 is a result of Revenues of $Nil, Office and general expenses of $357$1,071 consisting primarily of transfer agent fees, business and license expenses of $3,641 and Professional Fees of $nil$12,960; along with a Debt Forgiveness of $4,945 as compared to the net loss of $357$1,071 for the threenine months ended JulyJanuary 31, 2021 resulting from Office and general expenses of $357$1,071 and Professional Fees of $Nil.

 

Capital Resources and Liquidity

 

Our auditors have issued a "going concern" opinion, meaning that there is substantial doubt if we can continue as an on-going business for the next twelve months unless we obtain additional capital. No substantial revenues are anticipated until we have implemented our plan of operations. With the exception of cash advances from our sole Officer and Director, our only source for cash at this time is investments by others. We must raise cash to implement our strategy and stay in business.

 

For the period ended JulyJanuary 31, 20222023, and JulyJanuary 31, 2021,2022, the Company had cash of Nil. Accounts payable and accrued liabilities for the period ended JulyJanuary 31, 20222023, were $5,233.$1,547. The funds available to the Company will not be sufficient to fund the planned operations of the Company and maintain a reporting status.

 

As of July 31, 2022 and April 30, 2022, the Company has received $NIL in loans and payment of expenses from a related party. As of July 31, 2022 and April 30, 2022, a second related party has paid expenses of $NIL respectively, on behalf of the Company. 

10

 

Off-balance sheet arrangements

 

Other than the situation described in the section titled Capital Recourses and Liquidity, the company has no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect or change on the company's financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors. The term "off-balance sheet arrangement" generally means any transaction, agreement or other contractual arrangement to which an entity unconsolidated with the company is a party, under which the company has (i) any obligation arising under a guarantee contract, derivative instrument or variable interest; or (ii) a retained or contingent interest in assets transferred to such entity or similar arrangement that serves as credit, liquidity or market risk support for such assets.

 

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

 

The Company is a smaller reporting Company as defined by Rule 12b-2 of the Securities Act of 1934 and we are not required to provide the information under this item.

9

 

Item 4. Controls and Procedures.

 

Disclosure Controls and Procedures

 

Disclosure controls and procedures are controls and other procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported, within the time period specified in the SEC's rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed in our reports filed or submitted under the Securities Exchange Act of 1934 is accumulated and communicated to management including our principal executive officer and principal financial officer as appropriate, to allow timely decisions regarding required disclosure.

 

In connection with this quarterly report, as required by Rule 15d-15 under the Securities Exchange Act of 1934, we have carried out an evaluation of the effectiveness of the design and operation of our company's disclosure controls and procedures. This evaluation was carried out under the supervision and with the participation of our company's management, including our company's principal executive officer and principal financial officer. Based upon that evaluation, our company's principal executive officer and principal financial officer concluded that subject to the inherent limitations noted in this Part II, Item 9A(T) as of JulyOctober 31, 2022,2021, our disclosure controls and procedures were not effective due to the existence of material weaknesses in our internal controls over financial reporting.

 

Changes in Internal Control Over Financial Reporting

 

There were no changes in our internal control over financial reporting (as defined in Rule 13a-15(f) or 15d-15(f)) during the quarter ended JulyJanuary 31, 20222023, that have materially affected, or are reasonably likely to materially affect, our internal controls over financial reporting.

 

 

 1011 

 

 

PART II—OTHER INFORMATION

 

Item 1. Legal Proceedings.

 

The Company is not a party to any pending legal proceedings, and no such proceedings are known to be contemplated.

 

No director, officer, or affiliate of the Company and no owner of record or beneficial owner of more than 5.0% of the securities of the Company, or any associate of any such director, officer or security holder is a party adverse to the Company or has a material interest adverse to the Company in reference to pending litigation.

 

Item 1A. Risk Factors.

 

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Act of 1934 and are not required to provide the information under this item.

 

Item 2. Unregistered Sales of Securities and Use of Proceeds.

 

None

 

Item 3. Defaults Upon Senior Securities.

 

None

 

Item 4. Mine Safety Disclosures.

 

None

 

Item 5. Other Information.

 

(a)     None

11

 

Item 6. Exhibits.

 

31.1 Rule 13(a)-14(a)/15(d)-14(a) Certification of Chief Executive Officer
   
31.2 Rule 13(a)-14(a)/15(d)-14(a) Certification of Chief Financial Officer*
   
32.1 Section 1350 Certification of Chief Executive Officer
   
32.2 Section 1350 Certification of Chief Financial Officer ****
   
101  Inline XBRL Interactive Data Files
104Cover Page Interactive Data File (formatted in IXBRL, and included in exhibit 101).

__________

* Included in Exhibit 31.1

 

** Included in Exhibit 32.1

 

 

 

 12 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

 

Kashin, Inc.

(Registrant)

 
    
Date: December 16, 2022June 20, 2023By:/s/ Carl MaybinCaren Currier 
  Carl MaybinCaren Currier 
  

President and Director

Principal and Executive Officer

Principal Financial Officer

Principal Accounting Officer

 

 

 

 

 13