Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2020 | Nov. 20, 2020 | |
Document and Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2020 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q3 | |
Entity Registrant Name | GIVEMEPOWER CORPORATION | |
Entity Central Index Key | 0001064722 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Common Stock, Shares Outstanding | 27,724,687 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Shell Company | false | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | false |
CONSOLIDATED BALANCE SHEETS (Un
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Current Assets: | ||
Cash and cash equivalents | $ 5,340 | $ 500 |
Investments - trading securities | 22,961 | 45,396 |
Accounts receivable | 152 | 0 |
Total Current Assets | 28,453 | 45,896 |
Property and equipment, net | 13,249 | |
Investments - real estate | 970,148 | 0 |
Total assets | 1,011,850 | 45,896 |
Current Liabilities: | ||
Accrued expenses | 943 | |
Accrued interest | 1,406 | |
Marginal loan payable | 5,524 | 4,317 |
Line of credit - related party, current portion | 163,632 | 41,200 |
Total Current Liabilities | 171,505 | 45,517 |
Long-Term Liabilities: | ||
Notes payable - net of current portion | 150,000 | 0 |
Line of credit - related party, net of current portion | 766,718 | 0 |
Total Long-Term Liabilities | 916,718 | 0 |
Total Liabilities | $ 1,088,223 | $ 45,517 |
STOCKHOLDERS' EQUITY (DEFICIT) | ||
Preferred stock, $.001 par value, 1,000,000 and 10,000,000 shares authorized, 0 and I,000,000 issued and outstanding as at December 31, 2019 and September 30, 2020 respectively. | 3 | 0 |
Common Stock, $0.001 par value, 49,000,000 and 1,200,000,000 shares authorized, 27,724,687 issued and outstanding as at December 31, 2019 and September 30, 2020 respectively. | 1,975 | 0 |
Additional paid in capital | $ 53,763 | $ 0 |
Accumulated deficit | (132,114) | 379 |
Total Stockholders' Equity (Deficit) | (76,373) | 379 |
Total Liabilities and Stockholders' Equity (Deficit) | $ 1,011,850 | $ 45,896 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Trading securities revenue: | ||||
Sales of investments under trading securities | $ 29,250 | $ 0 | $ 261,400 | $ 0 |
Cost of sales - trading securities | 10,063 | 0 | 182,206 | 0 |
Net gain from sales of investments under trading securities | 19,187 | 0 | 79,194 | 0 |
Property revenue: | ||||
Sales of investment under property | 1,205,000 | |||
Cost of sales - property | 1,179,827 | |||
Net gain from sales of investments property | 0 | 0 | 25,173 | 0 |
Operating expenses: | ||||
General and administrative | 22,271 | 128,083 | ||
Total operating expenses | 22,271 | 0 | 128,083 | 0 |
Income (loss) from operations | (3,084) | (23,716) | ||
Other income (expense): | ||||
Interest expense, net | (1,549) | (1,590) | ||
Unrealized gain (loss) | (39,359) | 0 | (107,187) | 0 |
Total other expense, net | (40,908) | 0 | (108,777) | 0 |
Loss before income tax provision | (43,992) | 0 | (132,493) | 0 |
Income tax provision | 0 | 0 | 0 | |
Net loss | $ (43,992) | $ 0 | $ (132,493) | $ 0 |
Earnings (loss) per Share: Basic and Diluted | $ (0.002) | $ 0 | $ (0.005) | $ 0 |
Weighted Average Common Shares Outstanding: Basic and Diluted | 27,724,687 | 27,724,687 | 27,724,687 | 27,724,687 |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENTS OF CASHFLOWS (Unaudited) | 9 Months Ended |
Sep. 30, 2020USD ($) | |
Cash flows from operating activities: | |
Depreciation | $ 6,579 |
Cash from sales of trading securities | 253,246 |
Fund disbursed | (15,662) |
Accrued interest | 1,394 |
Purchase of trading securities | (266,958) |
Net cash used in operating activities | (21,401) |
Cash flows from investing activities: | |
Acquisition of businesses | (24,152) |
Payment for real estate investment | (970,148) |
Purchase of fixed assets | (19,828) |
Net cash used in investing activities | (1,014,128) |
Cash flows from financing activities | |
Proceeds from issuance of notes payable | 150,000 |
Proceeds from issuance of marginal loan payable | 1,219 |
Proceeds from issuance of line of credit - short term - related party | 122,432 |
Proceeds from issuance of line of credit - long term - related party | 766,718 |
Net cash provided by financing activities | 1,040,369 |
Net increase in cash | 4,840 |
Cash at the beginning of the period | 500 |
Cash at end of the period | 5,340 |
Supplemental disclosures of cash flow information Cash paid during the period for: | |
Interest paid | 115.49 |
Income taxes paid | $ 0 |