Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Mar. 31, 2019 | Apr. 30, 2019 | |
Document And Entity Information | ||
Entity Registrant Name | YUMMIES INC | |
Entity Central Index Key | 0001073748 | |
Trading Symbol | YUMM | |
Amendment Flag | false | |
Current Fiscal Year End Date | --09-30 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2019 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2019 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | false | |
Entity Common Stock, Shares Outstanding | 448,977,607 |
Balance Sheets
Balance Sheets - USD ($) | Mar. 31, 2019 | Sep. 30, 2018 |
Current Assets: | ||
Cash | $ 44,647 | |
Prepaid expenses | 4,000 | |
Total current assets | 44,647 | 4,000 |
Total Assets | 44,647 | 4,000 |
Current Liabilities: | ||
Accounts payable | 13,255 | |
Total current liabilities | 13,255 | |
Stockholders' Equity: | ||
Common stock, $0.0001 par value, 450,000,000 shares authorized, 448,977,607 and 2,505,000 issued and outstanding | 44,897 | 250 |
Preferred stock, $0.0001 par value, 50,000,000 shares authorized, 0 issued and outstanding as of March 31, 2019; no shares authorized and issued and outstanding as of September 30, 2018 | ||
Additional paid-in capital | 137,947 | 129,601 |
Accumulated deficit | (151,452) | (125,851) |
Total Stockholders' Equity | 31,392 | 4,000 |
Total Liabilities and Stockholders' Equity | $ 44,647 | $ 4,000 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Mar. 31, 2019 | Sep. 30, 2018 |
Statement of Financial Position [Abstract] | ||
Common stock, par value | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 450,000,000 | 450,000,000 |
Common stock, shares issued | 448,977,607 | 2,505,000 |
Common stock, shares outstanding | 448,977,607 | 2,505,000 |
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 50,000,000 | |
Preferred stock, shares issued | 0 | |
Preferred stock, shares outstanding | 0 |
Statements of Operations
Statements of Operations - USD ($) | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | |
Income Statement [Abstract] | ||||
Revenues | ||||
Expenses, general and administrative | 6,379 | 4,451 | 25,601 | 12,450 |
Operating loss | (6,379) | (4,451) | (25,601) | (12,450) |
Other income (expense): | ||||
Interest expense | (578) | (1,155) | ||
Net loss | $ (6,379) | $ (5,029) | $ (25,601) | $ (13,605) |
Net loss per share | $ (0.01) | |||
Weighted average shares outstanding | 186,054,850 | 2,505,000 | 93,271,409 | 2,505,000 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 6 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Cash flows from operating activities: | ||
Net loss | $ (25,601) | $ (13,605) |
Adjustments to reconcile net loss to cash provided by operating activities: | ||
Increase/Decrease in prepaid expenses | 4,000 | (6,667) |
Contribution from shareholder | 8,346 | 14,120 |
Increase in interest payable | 578 | |
Increase in accounts payable | 13,255 | 5,528 |
Net cash generate/ (used 6%) operating activities | (46) | |
Cash flows from investing activities | ||
Cash flows from financing activities | ||
Issuance of common stock | 44,647 | |
Net increase / (decrease) in cash | 44,647 | (46) |
Cash, beginning of period | 46 | |
Cash, end of period | 44,647 | |
Supplemental disclosure of cash flow information: | ||
Interest paid | ||
Income taxes paid |
Summary of Business and Signifi
Summary of Business and Significant Accounting Policies | 6 Months Ended |
Mar. 31, 2019 | |
Accounting Policies [Abstract] | |
Summary of Business and Significant Accounting Policies | 1. Summary of Business and Significant Accounting Policies a. Summary of Business Yummies, Inc. (the "Company") was incorporated under the laws of the State of Nevada on June 10, 1998. Planned principal operations have not yet commenced. The Company was formed to pursue business opportunities. b. Basis of Presentation The accompanying financial statements have been prepared in accordance with generally accepted accounting principles ("GAAP") as promulgated in the United States of America. c. Cash Flows For purposes of the statement of cash flows, the Company considers all highly liquid investments purchased with a maturity of three months or less to be cash or cash equivalents. d. Net Loss Per Share The net loss per share calculation is based on the weighted average number of shares outstanding during the period. e. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. f. Fair Value of Financial Instruments ASC 820-10 requires entities to disclose the fair value of financial instruments, both assets and liabilities recognized and not recognized on the balance sheet, for which it is practicable to estimate fair value. ASC 820-10 defines the fair value of a financial instrument as the amount at which the instrument could be exchanged in a current transaction between willing parties. As of March 31, 2019 and September 30, 2018, the carrying value of certain financial instruments approximates fair value due to the short-term nature of such instruments. |
Issuance of Common Stock
Issuance of Common Stock | 6 Months Ended |
Mar. 31, 2019 | |
Equity [Abstract] | |
Issuance of Common Stock | 2. Issuance of Common Stock On August 13, 1998, the Company issued 1,000,000 shares of its $.001 par value common stock for an aggregate price of $1,000. In February 1999, pursuant to Rule 504 of Regulation D of the Securities Act of 1933, as amended, the Company sold 17,500 shares of its common stock at a price of $1.00 per share. Costs of $6,471 associated directly with the offering were offset against the proceeds. On December 15, 2000, an officer and stockholder of the Company returned 600,000 shares of common stock to authorized but unissued shares. On December 17, 2018, the Company amended and restated its articles of incorporation. The authorized shares of common stock were increased from 50,000,000 shares to 450,000,000 shares and the par value was changed from $0.001 to $0.0001 per share. The change has been reflected retroactively in the accompanying financial statements. In addition, the Company authorized the issuance of 50,000,000 shares of preferred stock having a par value of $0.0001 per share. As of March 31, 2019, no preferred shares have been issued. In February 2019, pursuant to an exemption from the registration requirements of the Securities Act of 1933, as amended, (the "Securities Act") provided by Section 4(a)(2) and Regulation S thereunder, the Company sold 446,472,607 shares of its common stock at a price of $0.0001 per share for an aggregate price of $44,647. Issuance costs of 45,725 were offset against additional paid in capital in the accompanying financial statements. |
Warrants and Stock Options
Warrants and Stock Options | 6 Months Ended |
Mar. 31, 2019 | |
Warrants and Stock Options [Abstract] | |
Warrants and Stock Options | 3. Warrants and Stock Options No options or warrants are outstanding to acquire the Company's common stock. |
Income Taxes
Income Taxes | 6 Months Ended |
Mar. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 4. Income Taxes The Company has no taxable income under Federal or State tax laws. The Company has loss carry forwards totaling $195,502 that may be offset against future federal income taxes. If not used, the carry forwards will expire between 2021 and 2038. Due to the Company being in the development stage and incurring net operating losses, a valuation allowance has been provided to reduce the deferred tax assets from the net operating losses to zero. Therefore, there are no tax benefits recognized in the accompanying statement of operations. The income tax effect of the Tax Cuts and Jobs Act have been completed in accordance with FASB ASC740. |
Going Concern
Going Concern | 6 Months Ended |
Mar. 31, 2019 | |
Going Concern [Abstract] | |
Going Concern | 5. Going Concern As shown in the accompanying financial statements, the Company incurred a net loss of $25,601 during the six months ended March 31, 2019 and accumulated losses of $151,452 since inception at June 10, 1998. The Company's current assets exceed its current liabilities by $31,392 at March 31, 2019. The ability of the Company to continue as a going concern is dependent upon the success of raising additional capital through the issuance of common stock and the ability to generate sufficient operating revenue. The financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern. |
Subsequent Events
Subsequent Events | 6 Months Ended |
Mar. 31, 2019 | |
Subsequent Events [Abstract] | |
Subsequent Events | 6. Subsequent Events Management has evaluated subsequent events through April 30, 2019, the date on which the financial statements were available to be issued. |
Summary of Business and Signi_2
Summary of Business and Significant Accounting Policies (Policies) | 6 Months Ended |
Mar. 31, 2019 | |
Accounting Policies [Abstract] | |
Summary of Business | a. Summary of Business Yummies, Inc. (the "Company") was incorporated under the laws of the State of Nevada on June 10, 1998. Planned principal operations have not yet commenced. The Company was formed to pursue business opportunities. |
Basis of Presentation | b. Basis of Presentation The accompanying financial statements have been prepared in accordance with generally accepted accounting principles ("GAAP") as promulgated in the United States of America. |
Cash Flows | c. Cash Flows For purposes of the statement of cash flows, the Company considers all highly liquid investments purchased with a maturity of three months or less to be cash or cash equivalents. |
Net Loss Per Share | d. Net Loss Per Share The net loss per share calculation is based on the weighted average number of shares outstanding during the period. |
Use of Estimates | e. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. |
Fair Value of Financial Instruments | f. Fair Value of Financial Instruments ASC 820-10 requires entities to disclose the fair value of financial instruments, both assets and liabilities recognized and not recognized on the balance sheet, for which it is practicable to estimate fair value. ASC 820-10 defines the fair value of a financial instrument as the amount at which the instrument could be exchanged in a current transaction between willing parties. As of March 31, 2019 and September 30, 2018, the carrying value of certain financial instruments approximates fair value due to the short-term nature of such instruments. |
Issuance of Common Stock (Detai
Issuance of Common Stock (Details) - USD ($) | Dec. 15, 2000 | Apr. 13, 1998 | Feb. 28, 2019 | Feb. 28, 1999 | Mar. 31, 2019 | Mar. 31, 2018 | Dec. 17, 2018 | Sep. 30, 2018 |
Issuance of Common Stock (Textual) | ||||||||
Common stock, shares issued | 1,000,000 | |||||||
Common stock, shares authorized | 450,000,000 | 450,000,000 | ||||||
Common stock, par value | $ 0.001 | $ 0.0001 | $ 0.0001 | |||||
Common stock, value issued | $ 1,000 | $ 6,471 | ||||||
Preferred stock, par value | $ 0.0001 | $ 0.0001 | $ 0.0001 | |||||
Preferred stock, shares authorized | 50,000,000 | 50,000,000 | ||||||
Preferred stock, shares issued | 0 | |||||||
Number of common stock sold | 446,472,607 | 17,500 | ||||||
Common stock price per share | $ 0.0001 | $ 1 | ||||||
Costs associated with proceeds | $ 44,647 | $ 6,471 | $ 44,647 | |||||
Issuance costs of were offset against additional paid in capital | $ 45,725 | |||||||
Minimum [Member] | ||||||||
Issuance of Common Stock (Textual) | ||||||||
Common stock, shares authorized | 50,000,000 | |||||||
Common stock, par value | $ 0.001 | |||||||
Maximum [Member] | ||||||||
Issuance of Common Stock (Textual) | ||||||||
Common stock, shares authorized | 450,000,000 | |||||||
Common stock, par value | $ 0.0001 | |||||||
Officer and stockholder[ Member] | ||||||||
Issuance of Common Stock (Textual) | ||||||||
Returned shares of common stock authorized but unissued, shares | 600,000 |
Income Taxes (Details)
Income Taxes (Details) | 6 Months Ended |
Mar. 31, 2019USD ($) | |
Income Taxes (Textual) | |
Loss carry forwards | $ 195,502 |
Carry forwards expiration | The carry forwards will expire between 2021 and 2038. |
Going Concern (Details)
Going Concern (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | Sep. 30, 2018 | |
Going Concern (Textual) | |||||
Incurred net loss | $ (6,379) | $ (5,029) | $ (25,601) | $ (13,605) | |
Accumulated losses | (151,452) | (151,452) | $ (125,851) | ||
Current assets exceed its current liabilities | $ 31,392 | $ 31,392 |