Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Dec. 31, 2019 | Feb. 16, 2020 | |
Document and Entity Information [Abstract] | ||
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 | Dec. 31, 2019 | |
Document Fiscal Period Focus | Q1 | |
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 | 449,505,500 | |
Entity Filer Number | 000-32361 | |
Entity Interactive Data Current | Yes | |
Entity Incorporation State Country Code | NV |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2019 | Sep. 30, 2019 |
Current Assets: | ||
Cash | $ 7,921 | $ 20,831 |
Account receivables | 3,619 | |
Total current assets | 11,540 | 20,831 |
Total Assets | 11,540 | 20,831 |
Current Liabilities: | ||
Accounts payable | 2,303 | 1,230 |
Notes payable, stockholders | 932 | |
Total net current liabilities | 2,303 | 2,162 |
Stockholders' Equity: | ||
Common stock, $0.0001 par value, 450,000,000 shares authorized, 445,977,607 issued and outstanding as of December 31 2019 and September 30, 2019 | 42,643 | 42,643 |
Preferred stock, $0.0001 par value, 50,000,000 shares authorized, 0 shares issued and outstanding as of December 31, 2019; no shares authorized and issued and outstanding as of September 30, 2019 | ||
Additional paid-in capital | 140,201 | 140,201 |
Accumulated deficit | (173,607) | (164,175) |
Total Stockholders' Equity | 9,237 | 18,669 |
Total Liabilities and Stockholders' Equity | $ 11,540 | $ 20,831 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2019 | Sep. 30, 2019 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 50,000,000 | 50,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 450,000,000 | 450,000,000 |
Common stock, shares issued | 445,977,607 | 445,977,607 |
Common stock, shares outstanding | 445,977,607 | 445,977,607 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 3 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Income Statement [Abstract] | ||
Revenues | $ 3,637 | |
Expenses, general and administrative | (13,069) | 19,222 |
Operating loss | 9,432 | 19,222 |
Other income (expense): | ||
Interest expense | ||
Loss before provision for income taxes | (9,432) | (19,222) |
Provision for income taxes | ||
Net loss | $ (9,432) | $ (19,222) |
Net loss per share | ||
Weighted average shares outstanding | 445,997,607 | 2,505,000 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 3 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Cash flows from operating activities: | ||
Net loss | $ (9,432) | $ (19,222) |
Adjustments to reconcile net loss to cash provided by operating activities: | ||
Decrease in prepaid expenses | 3,000 | |
Increase in account receivables | (3,619) | |
Increase in accounts payable | 141 | 16,222 |
Increase in interest payable | ||
Net cash used in operating activities | (12,910) | |
Cash flows from investing activities | ||
Cash flows from financing activities | ||
Net decrease in cash | (12,910) | |
Cash, beginning of period | 20,831 | |
Cash, end of period | 7,921 | |
Supplemental disclosure of cash flow information: | ||
Interest paid | ||
Income taxes paid |
Summary of Business and Signifi
Summary of Business and Significant Accounting Policies | 3 Months Ended |
Dec. 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 December 31, 2019and September 30, 2019, 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 | 3 Months Ended |
Dec. 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 December 31, 2019, no preferred shares have been issued. |
Warrants and Stock Options
Warrants and Stock Options | 3 Months Ended |
Dec. 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 | 3 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 4. Income Taxes Due to uncertainties surrounding the Company's ability to generate future taxable income to realize these assets, a full valuation allowance has been established to offset the net deferred tax asset. The income tax effects of the Tax Cuts and Jobs Act have been completed in accordance with FASB ASC 740. The provision for income tax consists of the following components at December 31, 2019 and 2018: 2019 2018 Current: Federal income taxes [60,792 ] $ [64,762 ] State income taxes -0- [* ] Deferred Benefit from net operating loss 60,762 60,762 $ -0- $ [* ] The following reconciles income taxes reported in the financial statements to taxes that would be obtained by applying regular tax rates to income before taxes: 2019 2018 Expected tax benefit using regular rates $ [60,792 ] $ [64,189 ] State minimum tax [* ] Valuation allowance 60,792 ) 64,189 ) Tax Provision $ -0- $ [* ] The Company has loss carry forwards totaling $173,607 that may be offset against future federal income taxes. If not used, the carry forwards will expire between 2021 and 2038. As a result of the implementation of certain provisions of ASC 740, Income Taxes, the Company performed an analysis of its previous tax filings and determined that there were no positions taken that it considered uncertain. Therefore, there was no provision for uncertain tax positions for the years ended September 30, 2019 and 2018. Future changes in uncertain tax positions are not expected to have an impact on the effective tax rate due to the existence of the valuation allowance. The Company will continue to classify income tax penalties and interest, if any, as part of interest and other expenses in its statements of operations. The Company has incurred no interest or penalties as of December 31, 2019 and 2018. The federal income tax returns of the Company for 2018, 2017, and 2016 are subject to examination by the IRS, generally for three years after they were filed. |
Going Concern
Going Concern | 3 Months Ended |
Dec. 31, 2019 | |
Going Concern [Abstract] | |
Going Concern | 5. Going Concern As shown in the accompanying financial statements, the Company incurred a net loss of $9,432 during the three months ended December 31, 2019 and accumulated losses of $173,607 since inception at June 10, 1998 |
Subsequent Events
Subsequent Events | 3 Months Ended |
Dec. 31, 2019 | |
Subsequent Events [Abstract] | |
Subsequent Events | 6. Subsequent Events Management has evaluated subsequent events through [2-14] |
Summary of Business and Signi_2
Summary of Business and Significant Accounting Policies (Policies) | 3 Months Ended |
Dec. 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 December 31, 2019and September 30, 2019, the carrying value of certain financial instruments approximates fair value due to the short-term nature of such instruments. |
Income Taxes (Tables)
Income Taxes (Tables) | 3 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Schedule of provision for income tax | 2019 2018 Current: Federal income taxes [60,792 ] $ [64,762 ] State income taxes -0- [* ] Deferred Benefit from net operating loss 60,762 60,762 $ -0- $ [* ] |
Schedule of regular tax rates to income before taxes | 2019 2018 Expected tax benefit using regular rates $ [60,792 ] $ [64,189 ] State minimum tax [* ] Valuation allowance 60,792 ) 64,189 ) Tax Provision $ -0- $ [* ] |
Issuance of Common Stock (Detai
Issuance of Common Stock (Details) - USD ($) | Dec. 15, 2000 | Feb. 28, 1999 | Aug. 13, 1998 | Dec. 31, 2019 | Sep. 30, 2019 | Dec. 17, 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 | |||
Preferred stock, par value | $ 0.0001 | $ 0.0001 | $ 0.0001 | |||
Preferred stock, shares authorized | 50,000,000 | 50,000,000 | 50,000,000 | |||
Returned shares of common stock authorized but unissued, shares | 600,000 | |||||
Number of common stock sold | 17,500 | |||||
Common stock price per share | $ 1 | |||||
Aggregate price | $ 1,000 | |||||
Issuance costs of were offset against additional paid in capital | $ 6,471 | |||||
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 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) | 3 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Current: | ||
Federal income taxes | $ (60,792) | $ (64,762) |
State income taxes | 0 | |
Deferred Benefit from net operating loss | 60,762 | 60,762 |
provision for income tax | $ 0 |
Income Taxes (Details 1)
Income Taxes (Details 1) - USD ($) | 3 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | ||
Expected tax benefit using regular rates | $ (60,792) | $ (64,189) |
State minimum tax | ||
Valuation allowance | (60,792) | (64,189) |
Tax Provision |
Income Taxes (Details Textual)
Income Taxes (Details Textual) | 3 Months Ended |
Dec. 31, 2019USD ($) | |
Income Taxes (Textual) | |
Loss carry forwards | $ 173,607 |
Description of carry forwards expiration | The carry forwards will expire between 2021 and 2038. |
Going Concern (Details)
Going Concern (Details) - USD ($) | 3 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2019 | |
Going Concern (Textual) | |||
Incurred net loss | $ (9,432) | $ (19,222) | |
Accumulated losses | (173,607) | $ (164,175) | |
Current assets exceed its current liabilities | $ 9,237 |