Yummies (YUMM) 10-K 30 Dec 20 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Sep. 30, 2020	Dec. 30, 2020	Mar. 30, 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-K
Document Period End Date	Sep. 30, 2020
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
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 Public Float			$ 0
Entity Common Stock, Shares Outstanding		449,627,000
Entity Filer Number	000-32361
Entity Interactive Data Current	Yes
Entity Incorporation State Country Code	NV

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2020	Sep. 30, 2019
Current Assets:
Cash and Bank	$ 115	$ 20,831
Other receivables	6,000
Other receivables - related party	7,214
Total current assets	13,329	20,831
Total Assets	13,329	20,831
Current Liabilities:
Notes payable, stockholders		2,162
Total current liabilities		2,162
Commitments and Contingencies
Stockholders' Equity:
Preferred stock $0.0001 par value, 50,000,000 shares authorized, -0- and -0- issued and outstanding
Common stock, $0.0001 par value, 450,000,000 shares authorized, 449,626,500 and 448,977,607 issued and outstanding	47,217	47,152
Additional paid-in capital	158,424	135,692
Accumulated deficit	(192,312)	(164,175)
Total Stockholders' Equity	13,329	18,669
Total Liabilities and Stockholders' Equity	$ 13,329	$ 20,831

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2020	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	449,626,500	448,977,607
Common stock, shares outstanding	449,626,500	448,977,607

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Revenues - related party	$ 3,700	$ 3,619
Expenses, general and administrative	31,938	41,959
Operating loss	(28,238)	(38,340)
Other income (expense):
Interest income / (expense)	101	(16)
Income (loss) before provision for income taxes	(28,137)	(38,324)
Provision for income taxes
Net loss	$ (28,137)	$ (38,324)
Net loss per share	$ 0	$ 0
Weighted average shares outstanding	447,741,554	289,959,966

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($)	Common Stock	Additional Paid-In Capital	Accumulated Deficit
Balance at Sep. 30, 2018	$ 2,505	$ 129,600	$ (125,851)
Balance, Shares at Sep. 30, 2018	2,505,000
Contribution by shareholder for company expenses paid directly by shareholder		6,092
Net loss			(38,324)
Additional paid in capital	$ 44,647
Additional paid in capital, Shares	446,472,607
Balance at Sep. 30, 2019	$ 47,152	135,692	(164,175)
Balance, Shares at Sep. 30, 2019	448,977,607
Contribution by shareholder for company expenses paid directly by shareholder		22,732
Net loss			(28,137)
Additional paid in capital	$ 65
Additional paid in capital, Shares	648,893
Balance at Sep. 30, 2020	$ 47,217	$ 158,424	$ (192,312)
Balance, Shares at Sep. 30, 2020	449,626,500

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net (loss) / income	$ (28,137)	$ (38,324)
Adjustments to reconcile net loss to cash provided by operating activities:
Increase in other receivables	(13,214)
Decrease in prepaid expenses		4,000
Increase in accounts payable	(2,162)	932
Net cash used by operating activities	(43,513)	(33,094)
Cash flows from financing activities:
Issuance (repayment) of note payable		932
Issuance of common stock	65	42,392
Contribution from shareholder	22,732	10,601
Net cash generated from financing activities	22,797	53,925
Net (decrease) / increase in cash	(20,716)	20,831
Cash, beginning of period	20,831
Cash, end of period	115	20,831
Supplemental disclosure of cash flow information:
Interest paid
Income taxes paid
Note payable and interest payable forgiven by stockholders
Interest payable forgiven by transfer agent

Summary of Business and Signifi

Summary of Business and Significant Accounting Policies	12 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Summary of Business and Significant Accounting Policies	1. Summary of Business and Significant Accounting Policies a. Summary of Business The Company was incorporated under the laws of the State of Nevada on June 10, 1998 and commenced it business as consulting, training and event management company through its subsidiary. 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. Net loss per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net loss per common share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per common share is computed by dividing net loss by the weighted average number of shares of common stock and potentially dilutive outstanding shares of common stock during the period to reflect the potential dilution that could occur from common shares issuable through contingent share arrangements, stock options and warrants. There were no potentially dilutive common shares outstanding for the years ended September 30, 2020 and 2019. 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 September 30, 2020 and 2019, the carrying value of certain financial instruments approximates fair value due to the short-term nature of such instruments. The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification ("Paragraph 820-10-35-37") to measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value in accounting principles generally accepted in the United States of America (U.S. GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three (3) levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below: Level 1 - Quoted market prices available in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2 - Inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs). Level 3 - Unobservable inputs that reflect our assumptions about the assumptions that market participants would use in pricing the asset or liability. The Company's financial instruments are consisted principally of accrued expenses and short term debt. The carrying amounts of such financial instruments in the accompanying balance sheets approximate their fair values due to their relatively short-term nature. g. Recently Issued Accounting Pronouncements In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business. In January 2017, the FASB issued ASU 2017-04, Intangibles—Goodwill and Other (Topic 350) In May 2017, the FASB issued ASU 2017-09, Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting. In July 2017, the FASB issued ASU 2017-11, Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815): (Part I) Accounting for Certain Financial Instruments with Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception Earnings Per Share h. Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Yummies, SG. All significant intercompany transactions and balances have been eliminated. i. Related Party Revenue and Accounts Receivable During the year ended September 30, 2020 and 2019, the Company's sole source of revenue was $3,700 and $3,619 from a consulting project with another Company owned and controlled by its largest stockholder, officer and director. The revenue was for consulting for seminar event held in a hotel room. The total amount earned is an account receivable at year end and remains uncollected as of the audit date.

Notes Payable

Notes Payable	12 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Notes Payable	2. Notes Payable On January 10, 2007, and May 22, 2009 the Company converted $2,105 and $1,669 of accounts payable from its transfer agent into a one-year notes payable. The note balance of $0 and $0 at September 30, 2019 and 2018, respectively, and both principal and accrued interest is convertible into common stock at $.025 per share. In August 2018 the $3,774 note was repaid. Interest payable of $3,220 was forgiven by the transfer agent. The forgiveness of debt income has been recorded as other income in the accompanying financial statements.

Notes Payable, Stockholders

Notes Payable, Stockholders	12 Months Ended
	Sep. 30, 2020
Related Party Transactions [Abstract]
Notes Payable, Stockholders	3. Notes Payable, Stockholders Stockholder notes payable consist of the following at September 30, 2019 and 2018: 2020 2019 Notes payable to shareholder, the notes are unsecured, have a 0% interest rate and are due within one year. $ -- $ 932 $ --- $ 932

Issuance of Common Stock

Issuance of Common Stock	12 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Issuance of Common Stock	4. 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 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 September 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 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 $.0001 par value common stock for an aggregate price of $12.15.

Warrants and Stock Options

Warrants and Stock Options	12 Months Ended
	Sep. 30, 2020
Warrants and Stock Options [Abstract]
Warrants and Stock Options	5. Warrants and Stock Options No options or warrants are outstanding to acquire the Company's common stock

Income Taxes

Income Taxes	12 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	6. 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 September 30, 2020 and 2019: 2020 2019 Current: Federal income taxes 40,386 $ 57,461 State income taxes -- -- Deferred Benefit from net operating loss -- -- $ 40,386 $ 57,461 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: 2020 2019 Expected tax benefit using regular rates $ 40,386 $ 57,461 State minimum tax Valuation allowance (40,386 ) (57,461 ) Tax Provision $ -- $ -- The Company has loss carry forwards totaling $192,312 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, 2020 and 2019. 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 September 30, 2020 and 2019. The federal income tax returns of the Company for 2019, 2018, and 2017 are subject to examination by the IRS, generally for three years after they were filed.

Going Concern

Going Concern	12 Months Ended
	Sep. 30, 2020
Going Concern [Abstract]
Going Concern	7. Going Concern As shown in the accompanying financial statements, the Company incurred net loss of $28,137 during year ended September 30, 2020 and accumulated losses of $192,312. The Company's current assets exceed its current liabilities by $13,329 at September 30, 2020. These factors create an uncertainty as to the Company's ability to continue as a going concern. 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 - Date of Man

Subsequent Events - Date of Management Evaluation	12 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent Events - Date of Management Evaluation	8. Subsequent Events - Date of Management Evaluation Management has evaluated subsequent events through December 11, 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)	12 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Summary of Business	a. Summary of Business The Company was incorporated under the laws of the State of Nevada on June 10, 1998 and commenced it business as consulting, training and event management company through its subsidiary.
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. Net loss per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net loss per common share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per common share is computed by dividing net loss by the weighted average number of shares of common stock and potentially dilutive outstanding shares of common stock during the period to reflect the potential dilution that could occur from common shares issuable through contingent share arrangements, stock options and warrants. There were no potentially dilutive common shares outstanding for the years ended September 30, 2020 and 2019.
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 September 30, 2020 and 2019, the carrying value of certain financial instruments approximates fair value due to the short-term nature of such instruments. The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification ("Paragraph 820-10-35-37") to measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value in accounting principles generally accepted in the United States of America (U.S. GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three (3) levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below: Level 1 - Quoted market prices available in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2 - Inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs). Level 3 - Unobservable inputs that reflect our assumptions about the assumptions that market participants would use in pricing the asset or liability. The Company's financial instruments are consisted principally of accrued expenses and short term debt. The carrying amounts of such financial instruments in the accompanying balance sheets approximate their fair values due to their relatively short-term nature.
Recently Issued Accounting Pronouncements	g. Recently Issued Accounting Pronouncements In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business. In January 2017, the FASB issued ASU 2017-04, Intangibles—Goodwill and Other (Topic 350) In May 2017, the FASB issued ASU 2017-09, Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting. In July 2017, the FASB issued ASU 2017-11, Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815): (Part I) Accounting for Certain Financial Instruments with Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception Earnings Per Share
Principles of Consolidation	h. Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Yummies, SG. All significant intercompany transactions and balances have been eliminated.
Related Party Revenue and Accounts Receivable	i. Related Party Revenue and Accounts Receivable During the year ended September 30, 2020 and 2019, the Company's sole source of revenue was $3,700 and $3,619 from a consulting project with another Company owned and controlled by its largest stockholder, officer and director. The revenue was for consulting for seminar event held in a hotel room. The total amount earned is an account receivable at year end and remains uncollected as of the audit date.

Notes Payable, Stockholders (Ta

Notes Payable, Stockholders (Tables)	12 Months Ended
	Sep. 30, 2020
Related Party Transactions [Abstract]
Schedule of stockholders notes payable	2020 2019 Notes payable to shareholder, the notes are unsecured, have a 0% interest rate and are due within one year. $ -- $ 932 $ --- $ 932

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Schedule of provision for income tax	2020 2019 Current: Federal income taxes 40,386 $ 57,461 State income taxes -- -- Deferred Benefit from net operating loss -- -- $ 40,386 $ 57,461
Schedule of regular tax rates to income before taxes	2020 2019 Expected tax benefit using regular rates $ 40,386 $ 57,461 State minimum tax Valuation allowance (40,386 ) (57,461 ) Tax Provision $ -- $ --

Summary of Business and Signi_3

Summary of Business and Significant Accounting Policies (Details) - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Summary of Business and Significant Accounting Policies (Textual)
Revenues - related party	$ 3,700	$ 3,619

Notes Payable (Details)

Notes Payable (Details) - USD ($)	1 Months Ended	12 Months Ended
	Aug. 31, 2018	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018	May 22, 2009	Jan. 10, 2007
Notes Payable (Textual)
Converted accounts payable					$ 1,669	$ 2,105
Note balance			$ 0	$ 0
Convertible into common stock price per share			$ 0.025	$ 0.025
Repayment of note	$ 3,774		$ 932
Interest payable		$ 3,220

Notes Payable, Stockholders (De

Notes Payable, Stockholders (Details) - USD ($)	Sep. 30, 2020	Sep. 30, 2019
Related Party Transactions [Abstract]
Notes payable to shareholder, the notes are unsecured, have a 0% interest rate and are due within one year.		$ 932
Total		$ 932

Issuance of Common Stock (Detai

Issuance of Common Stock (Details) - USD ($)	1 Months Ended			12 Months Ended
	Aug. 31, 2020	Oct. 31, 2019	Feb. 28, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 17, 2018
Issuance of Common Stock (Textual)
Common stock, shares issued	121,500	3,527,393
Common stock, shares authorized				450,000,000	450,000,000
Common stock, par value	$ .0001	$ .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	$ 12	$ 353	$ 44,647	$ 65	$ 42,392
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

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Current:
Federal income taxes	$ 40,386	$ 57,461
State income taxes
Deferred Benefit from net operating loss
Provision for income tax	$ 40,386	$ 57,461

Income Taxes (Details 1)

Income Taxes (Details 1) - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Expected tax benefit using regular rates	$ 40,386	$ 57,461
State minimum tax
Valuation allowance	(40,386)	(57,461)
Tax Provision

Income Taxes (Details Textual)

Income Taxes (Details Textual)	12 Months Ended
	Sep. 30, 2020USD ($)
Income Taxes (Textual)
Loss carry forwards	$ 192,312
Description of carry forwards expiration	The carry forwards will expire between 2021 and 2038.

Going Concern (Details)

Going Concern (Details) - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Going Concern (Textual)
Incurred net loss	$ (28,137)	$ (38,324)
Accumulated losses	(192,312)	$ (164,175)
Current assets exceed its current liabilities	$ 13,329