Yummies (YUMM) 10-Q 14 Aug 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jun. 30, 2019	Aug. 14, 2019
Document And Entity Information
Entity Registrant Name	YUMMIES INC
Entity Central Index Key	0001073748
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Document Type	10-Q
Document Period End Date	Jun. 30, 2019
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2019
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		448,977,607
Entity Filer Number	000-32361
Entity Interactive Data Current	Yes
Entity Incorporation State Country Code	NV

Balance Sheets

Balance Sheets - USD ($)	Jun. 30, 2019	Sep. 30, 2018
Current Assets:
Cash and bank balance	$ 31,166
Prepaid expenses		4,000
Total current assets	31,166	4,000
Total Assets	31,166	4,000
Current Liabilities:
Accounts payable	9,793
Total current liabilities	9,793
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 June 30, 2019; no shares authorized and issued and outstanding as of September 30, 2018
Additional paid-in capital	137,947	129,601
Accumulated deficit	(161,471)	(125,851)
Total Stockholders' Equity	21,373	4,000
Total Liabilities and Stockholders' Equity	$ 31,166	$ 4,000

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 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		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Revenues
Expenses, general and administrative	10,019	5,275	35,620	17,725
Operating loss	(10,019)	(5,275)	(35,620)	(17,725)
Other income (expense):
Interest expense		(578)		(1,733)
Net loss	$ (10,019)	$ (5,853)	$ (35,620)	$ (19,458)
Net loss per share				$ (0.01)
Weighted average shares outstanding	448,977,607	2,505,000	211,840,142	2,505,000

Statements of Cash Flows

Statements of Cash Flows - USD ($)	9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities:
Net loss	$ (35,620)	$ (19,458)
Adjustments to reconcile net loss to cash provided by operating activities:
Increase/decrease in prepaid expenses	4,000	(3,667)
Expenses paid directly by shareholder	8,346	12,000
Increase in interest payable		1,733
Increase in accounts payable	9,793	9,346
Net cash generate/ (used) operating activities	(13,481)	(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	31,166
Supplemental disclosure of cash flow information:
Interest paid
Income taxes paid

Summary of Business and Signifi

Summary of Business and Significant Accounting Policies	9 Months Ended
	Jun. 30, 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. On July 1, 2019, the Company filed a Form 8-K with the U.S. Securities and Exchange Commission to report a change in shell company status. On June 18, 2019, the Company formed a wholly-owned subsidiary under the laws of Singapore, Yummies Knowledge Management Pte. Ltd. The principal activities of Yummies Knowledge Management Pte. Ltd. are in the field of management consultancy services and the provision of corporate training programs and motivational courses in various areas of management. 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 GAAP 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 June 30, 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	9 Months Ended
	Jun. 30, 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 $0.001 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 June 30, 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	9 Months Ended
	Jun. 30, 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	9 Months Ended
	Jun. 30, 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	9 Months Ended
	Jun. 30, 2019
Going Concern [Abstract]
Going Concern	5. Going Concern As shown in the accompanying financial statements, the Company incurred a net loss of $35,620 during the nine months ended June 30, 2019 and accumulated losses of $161,471 since inception at June 10, 1998. The Company's current assets exceed its current liabilities by $21,373 at June 30, 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	9 Months Ended
	Jun. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	6. Subsequent Events Management has evaluated subsequent events through July 31, 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)	9 Months Ended
	Jun. 30, 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. On July 1, 2019, the Company filed a Form 8-K with the U.S. Securities and Exchange Commission to report a change in shell company status. On June 18, 2019, the Company formed a wholly-owned subsidiary under the laws of Singapore, Yummies Knowledge Management Pte. Ltd. The principal activities of Yummies Knowledge Management Pte. Ltd. are in the field of management consultancy services and the provision of corporate training programs and motivational courses in various areas of management.
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 GAAP 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 June 30, 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	Jun. 30, 2019	Jun. 30, 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
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 offering 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)	9 Months Ended
	Jun. 30, 2019USD ($)
Income Taxes (Textual)
Loss carry forwards	$ 195,502
Description of carry forwards expiration	The carry forwards will expire between 2021 and 2038.

Going Concern (Details)

Going Concern (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Sep. 30, 2018
Going Concern (Textual)
Incurred net loss	$ (10,019)	$ (5,853)	$ (35,620)	$ (19,458)
Accumulated losses	(161,471)		(161,471)		$ (125,851)
Current assets exceed its current liabilities	$ 21,373		$ 21,373