Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Jun. 30, 2020 | Aug. 14, 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 | Jun. 30, 2020 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2020 | |
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 | 449,627,000 | |
Entity Filer Number | 000-32361 | |
Entity Interactive Data Current | Yes | |
Entity Incorporation State Country Code | NV |
Condensed Consolidation Balance
Condensed Consolidation Balance Sheets - USD ($) | Jun. 30, 2020 | Sep. 30, 2019 |
Current Assets: | ||
Cash and bank balance | $ 19 | $ 20,831 |
Other receivables | 12,726 | |
Total current assets | 12,745 | 20,831 |
Total Assets | 12,745 | 20,831 |
Current Liabilities: | ||
Accounts payable | 12 | 1,230 |
Notes payables, stockholders | 932 | |
Total current liabilities | 12 | 2,162 |
Stockholders' Equity: | ||
Common stock, $0.0001 par value, 450,000,000 shares authorized, 449,505,500 and 448,977,607 issued and outstanding as of June 30, 2020 and September 30, 2019 | 44,728 | 42,643 |
Preferred stock, $0.0001 par value, 50,000,000 shares authorized, 0 issued and outstanding as of June 30, 2020; no shares authorized and issued and outstanding as of September 30, 2019 | ||
Additional paid-in capital | 157,947 | 140,201 |
Accumulated deficit | (189,942) | (164,175) |
Total Stockholders' Equity | 12,733 | 18,669 |
Total Liabilities and Stockholders' Equity | $ 12,745 | $ 20,831 |
Condensed Consolidation Balan_2
Condensed Consolidation Balance Sheets (Parenthetical) - $ / shares | Jun. 30, 2020 | Sep. 30, 2019 |
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 | 449,505,500 | 448,977,607 |
Common stock, shares outstanding | 449,505,500 | 448,977,607 |
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 |
Condensed Consolidation Stateme
Condensed Consolidation Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Income Statement [Abstract] | ||||
Revenues | ||||
Expenses, general and administrative | 1,472 | 10,019 | 25,787 | 35,620 |
Operating loss | (1,472) | (10,019) | (25,787) | (35,620) |
Other income (expense): | ||||
Interest income | 2 | 20 | ||
Net loss | $ (1,470) | $ (10,019) | $ (25,767) | $ (35,620) |
Net loss per share | ||||
Weighted average shares outstanding | 449,505,500 | 448,977,607 | 449,505,500 | 211,840,142 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Cash flows from operating activities: | ||
Net loss | $ (25,767) | $ (35,620) |
Adjustments to reconcile net loss to cash provided by operating activities: | ||
Increase/decrease in prepaid expenses | 4,000 | |
Expenses paid directly by shareholder | 8,346 | |
Increase in interest payable | (12,726) | |
Decrease/Increase in accounts payable | (2,150) | 9,793 |
Net cash used operating activities | (40,643) | (13,481) |
Cash flows from financing activities | ||
Issuance of common stock | 44,647 | |
Contribution from shareholder | 19,831 | |
Net cash used financing activities | 19,831 | 44,647 |
Cash, beginning of period | 20,831 | |
Cash, end of period | 19 | 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, 2020 | |
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, 2020 and September 30, 2019, the carrying value of certain financial instruments approximates fair value due to the short-term nature of such instruments. |
Risks and Uncertainties
Risks and Uncertainties | 9 Months Ended |
Jun. 30, 2020 | |
Going Concern [Abstract] | |
Risks and Uncertainties | 2. Risks and Uncertainties In December 2019, a novel strain of coronavirus (COVID-19) emerged in Wuhan, Hubei Province, China. While initially the outbreak was largely concentrated in China and caused significant disruptions to its economy, it has now spread to several other countries and infections have been reported globally. Because COVID-19 infections have been reported throughout the United States, certain federal, state and local governmental authorities have issued stay-at-home orders, proclamations and/or directives aimed at minimizing the spread of COVID-19. Additional, more restrictive proclamations and/or directives may be issued in the future. As a result, all of our offices have been closed effective April 1, 2020. The ultimate impact of the COVID-19 pandemic on the Company's operations is unknown and will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the duration of the COVID-19 outbreak, new information which may emerge concerning the severity of the COVID-19 pandemic, and any additional preventative and protective actions that governments, or the Company, may direct, which may result in an extended period of continued business disruption, reduced customer traffic and reduced operations. Any resulting financial impact cannot be reasonably estimated at this time but is anticipated to have a material adverse impact on our business, financial condition and results of operations. The measures taken to date will impact the Company's business for the fiscal third quarter and potentially beyond. Management expects that all of its business segments, across all of its geographies, will be impacted to some degree, but the significance of the impact of the COVID-19 outbreak on the Company's business and the duration for which it may have an impact cannot be determined at this time. |
Issuance of Common Stock
Issuance of Common Stock | 9 Months Ended |
Jun. 30, 2020 | |
Equity [Abstract] | |
Issuance of Common Stock | 3. Issuance of Common Stock 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 condensed consolidated 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, 2020, 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 condensed consolidated financial statements. In October 2019, the Company issued 3,527,393 shares of its $.0001 par value common stock for an aggregate price of $352.74. In August 2020, the Company issued 121,500 shares of its $0.0001 par value common stock for an aggregate price of $12.15 |
Warrants and Stock Options
Warrants and Stock Options | 9 Months Ended |
Jun. 30, 2020 | |
Warrants and Stock Options [Abstract] | |
Warrants and Stock Options | 4. 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, 2020 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 5. Income Taxes The Company has no taxable income under Federal or State tax laws. The Company has loss carry forwards totaling $189,942 during the nine-month period ended June 30, 2020 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, 2020 | |
Going Concern [Abstract] | |
Going Concern | 6. Going Concern As shown in the accompanying financial statements, the Company incurred a net loss of $25,767 during the nine months ended June 30, 2020 and accumulated losses of $189,942 since inception at June 10, 1998. The Company's current assets exceed its current liabilities by $12,733 at June 30, 2020. 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, 2020 | |
Subsequent Events [Abstract] | |
Subsequent Events | 7. Subsequent Events Management has evaluated subsequent events through August 14, 2020, 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, 2020 | |
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, 2020 and 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 (Detai
Issuance of Common Stock (Details) - USD ($) | Oct. 31, 2019 | Aug. 31, 2020 | Feb. 28, 2019 | Jun. 30, 2020 | Sep. 30, 2019 | Dec. 17, 2018 |
Issuance of Common Stock (Textual) | ||||||
Common stock, shares authorized | 450,000,000 | 450,000,000 | ||||
Common stock, par value | $ .0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||
Preferred stock, par value | $ 0.0001 | $ 0.0001 | ||||
Preferred stock, shares authorized | 50,000,000 | 50,000,000 | ||||
Preferred stock, shares issued | 0 | 0 | ||||
Number of common stock sold | 446,472,607 | |||||
Common stock price per share | $ 0.0001 | |||||
Aggregate price | $ 353 | $ 12 | $ 44,647 | |||
Issuance costs of were offset against additional paid in capital | $ 45,725 | |||||
Company issued shares | 3,527,393 | 121,500 | ||||
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) | 9 Months Ended |
Jun. 30, 2020USD ($) | |
Income Taxes (Textual) | |
Loss carry forwards | $ 189,942 |
Description of carry forwards expiration | The carry forwards will expire between 2021 and 2038. |
Going Concern (Details)
Going Concern (Details) - USD ($) | 9 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Sep. 30, 2019 | |
Going Concern (Textual) | |||
Incurred net loss | $ (25,767) | $ (35,620) | |
Accumulated losses | (189,942) | $ (164,175) | |
Current assets exceed its current liabilities | $ 12,733 |