Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Jun. 30, 2021 | Aug. 05, 2021 | |
Document Information Line Items | ||
Entity Registrant Name | YUMMIES, INC. | |
Document Type | 10-Q | |
Current Fiscal Year End Date | --09-30 | |
Entity Common Stock, Shares Outstanding | 449,626,500 | |
Amendment Flag | false | |
Entity Central Index Key | 0001073748 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Document Period End Date | Jun. 30, 2021 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q3 | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Entity Shell Company | false | |
Entity Ex Transition Period | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity File Number | 000-32361 | |
Entity Incorporation, State or Country Code | NV | |
Entity Tax Identification Number | 87-0615629 | |
Entity Address, Address Line One | 6F., No.516, Sec. 1 | |
Entity Address, Address Line Two | Neihu Road | |
Entity Address, Address Line Three | Neihu District | |
Entity Address, City or Town | Taipei City | |
Entity Address, Postal Zip Code | 114 | |
Entity Address, Country | TW | |
City Area Code | +88 | |
Local Phone Number | 6287511886 | |
Entity Interactive Data Current | Yes |
Condensed Consolidation Balance
Condensed Consolidation Balance Sheets - USD ($) | Jun. 30, 2021 | Sep. 30, 2020 |
Current Assets: | ||
Bank | $ 463 | $ 115 |
Other receivables | 11,199 | 6,000 |
Other receivables – related party | 7,311 | 7,214 |
Total current assets | 18,973 | 13,329 |
Total Assets | 18,973 | 13,329 |
Current Liabilities: | ||
Accounts payable | ||
Notes payable, stockholders | ||
Total net current liabilities | ||
Stockholders’ Equity: | ||
Common stock, $0.0001 par value, 450,000,000 shares authorized, 449,626,500 issued and outstanding as of June 30, 2021 and September 30, 2020 | 47,217 | 47,217 |
Preferred stock $0.0001 par value, 50,000,000 shares authorized, -0- and -0- issued and outstanding | ||
Additional paid-in capital | 207,055 | 158,424 |
Accumulated deficit | (235,299) | (192,312) |
Total Stockholders’ Equity | 18,973 | 13,329 |
Total Liabilities and Stockholders’ Equity | $ 18,973 | $ 13,329 |
Condensed Consolidation Balan_2
Condensed Consolidation Balance Sheets (Parentheticals) - $ / shares | Jun. 30, 2021 | Sep. 30, 2020 |
Statement of Financial Position [Abstract] | ||
Common stock, par value (in Dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 450,000,000 | 450,000,000 |
Common stock, shares issued | 449,626,500 | 449,626,500 |
Common stock share outstanding | 449,626,500 | 449,626,500 |
Preferred stock par value (in Dollars per share) | $ 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, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Income Statement [Abstract] | ||||
Revenues | ||||
Expenses, general and administrative | 24,648 | $ 1,472 | $ 42,987 | $ 25,787 |
Operating loss | (24,648) | (1,472) | (42,987) | (25,787) |
Other income (expense): | ||||
Interest expense | 2 | 20 | ||
Net loss | $ (24,648) | $ (1,470) | $ (42,987) | $ (25,767) |
Net loss per share (in Dollars per share) | ||||
Weighted average shares outstanding (in Shares) | 444,740,245 | 449,595,500 | 447,170,519 | 449,505,500 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders’ Equity (Unaudited) - USD ($) | Common Stock | Additional Paid-in Capital | Accumulated Deficit |
Balance at Sep. 30, 2020 | $ 47,217 | $ 158,424 | $ (192,312) |
Balance (in Shares) at Sep. 30, 2020 | 449,626,500 | ||
Contribution by shareholder for company expenses paid directly by shareholder | 4,000 | ||
Net loss for the period | (3,336) | ||
Balance at Dec. 31, 2020 | $ 47,217 | 162,424 | (195,648) |
Balance (in Shares) at Dec. 31, 2020 | 449,626,500 | ||
Contribution by shareholder for company expenses paid directly by shareholder | 15,000 | ||
Net loss for the period | (15,003) | ||
Balance at Mar. 31, 2021 | $ 47,217 | 177,424 | (210,651) |
Balance (in Shares) at Mar. 31, 2021 | 449,626,500 | ||
Contribution by shareholder for company expenses paid directly by shareholder | 29,631 | ||
Net loss for the period | (24,648) | ||
Balance at Jun. 30, 2021 | $ 47,217 | $ 207,055 | $ (235,299) |
Balance (in Shares) at Jun. 30, 2021 | 449,626,500 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Cash flows from operating activities: | ||
Net loss | $ (42,987) | $ (25,767) |
Adjustments to reconcile net loss to cash provided by operating activities: | ||
Increase in other receivables | (5,296) | (12,726) |
Increase/ (decrease) in accounts payable | (2,150) | |
Net cash generate/ (used) operating activities | (48,283) | (40,643) |
Cash flows from financing activities | ||
Issuance of common stock | ||
Contribution from shareholder | 48,631 | 19,831 |
Net increase in financing activities | 48,631 | 19,831 |
Cash, beginning of period | 115 | 20,831 |
Cash, end of period | 463 | 19 |
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, 2021 | |
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 quarter ended June 30, 2021 and 2020. 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 June 30, 2021 and September 30, 2020, 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 period ended June 30, 2021 and September 30, 2020, the Company’s sole source of revenue was $0 and $3,700 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. |
Risks and Uncertainties
Risks and Uncertainties | 9 Months Ended |
Jun. 30, 2021 | |
Risks and Uncertainties [Abstract] | |
Risks and Uncertainties | 2. Risks and Uncertainties In December 2019, a novel strain of coronavirus (COVID-19) was reported to have surfaced in Wuhan, 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. On March 11, 2020, the World Health Organization declared the outbreak a pandemic, and on March 13, 2020, the United States declared a national emergency. 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, 2021 | |
Stockholders' Equity Note [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 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, 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 | 9 Months Ended |
Jun. 30, 2021 | |
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, 2021 | |
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 $235,651 during the three-month period ended June 30, 2021 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, 2021 | |
Going Concern [Abstract] | |
Going Concern | 6. Going Concern As shown in the accompanying financial statements, the Company incurred a net loss of $24,648 during the three months ended June 30, 2021 and accumulated losses of $235,299 since inception on June 10, 1998 |
Subsequent Events
Subsequent Events | 9 Months Ended |
Jun. 30, 2021 | |
Subsequent Events [Abstract] | |
Subsequent Events | 7. Subsequent Events On June 4, 2021, a shareholder of the Company filed an application for appointment of custodian (the “Application”) in the District Court, Clark County, Nevada (the “Court”) claiming that the Company had abandoned its business. The Application was granted by the Court which issued a Custodian Order on June 16, 2021. On June 18, 2021, we filed an application for a stay of the Court order granting the custodianship and this stay was granted by the Court on June 20, 2021. On June 29, 2021, we entered into a settlement agreement with the shareholder pursuant to which, among other things, we agreed to maintain our corporate filings with the Nevada Secretary of State in a timely manner and to comply with regulatory and market required periodic report filing requirements. On June 30, 2021, the Court vacated the Custodian Order and dismissed the shareholder’s action in its entirety. We have paid an upfront of $25,000 for the legal fees for handling the case. As a result, on July 1, 2021, our legal representative have paid on behalf of the Company of $2,500 for of the final settlement with the shareholder. The surplus of the legal fees of $5,199 has also been refunded on July 27, 2021. Other than the above, management has evaluated subsequent events through August 5, 2021, the date on which the financial statements were available to be issued. |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 9 Months Ended |
Jun. 30, 2021 | |
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 quarter ended June 30, 2021 and 2020. |
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 June 30, 2021 and September 30, 2020, 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 period ended June 30, 2021 and September 30, 2020, the Company’s sole source of revenue was $0 and $3,700 from a consulting project with another Company owned and controlled by its largest stockholder, officer and director. The revenue was for consulting for seminar event held in a hotel room. The total amount earned is an account receivable at year end and remains uncollected as of the audit date. |
Summary of Business and Signi_2
Summary of Business and Significant Accounting Policies (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Jun. 30, 2021 | Sep. 30, 2020 | |
Accounting Policies [Abstract] | ||
Revenue | $ 0 | $ 3,700 |
Issuance of Common Stock (Detai
Issuance of Common Stock (Details) - USD ($) | 1 Months Ended | ||||||
Aug. 31, 2020 | Oct. 31, 2019 | Feb. 28, 2019 | Jun. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Dec. 17, 2018 | |
Issuance of Common Stock (Details) [Line Items] | |||||||
Common stock, shares authorized | 450,000,000 | 450,000,000 | |||||
Common stock, par value (in Dollars per share) | $ 0.0001 | $ 0.0001 | |||||
Preferred stock, shares authorized | 50,000,000 | 50,000,000 | |||||
Preferred stock, par value (in Dollars per share) | $ 0.0001 | $ 0.0001 | |||||
Preferred Stock, Value, Issued (in Dollars) | $ 0 | ||||||
Number of common stock sold | 446,472,607 | ||||||
Common stock price per share (in Dollars per share) | $ 0.0001 | ||||||
Aggregate price (in Dollars) | $ 12.15 | $ 352.74 | $ 44,647 | ||||
Issuance costs of were offset against additional paid in capital (in Dollars) | $ 45,725 | ||||||
Common stock, shares issued | 121,500 | 3,527,393 | |||||
Minimum [Member] | |||||||
Issuance of Common Stock (Details) [Line Items] | |||||||
Common stock, shares authorized | 50,000,000 | ||||||
Common stock, par value (in Dollars per share) | $ 0.001 | ||||||
Maximum [Member] | |||||||
Issuance of Common Stock (Details) [Line Items] | |||||||
Common stock, shares authorized | 450,000,000 | ||||||
Common stock, par value (in Dollars per share) | $ 0.0001 |
Income Taxes (Details)
Income Taxes (Details) | 9 Months Ended |
Jun. 30, 2021USD ($) | |
Income Tax Disclosure [Abstract] | |
Loss carry forwards | $ 235,651 |
Description of carry forwards expiration | the carry forwards will expire between 2021 and 2038. |
Net operating losses | $ 0 |
Going Concern (Details)
Going Concern (Details) - USD ($) | 3 Months Ended | |
Jun. 30, 2021 | Sep. 30, 2020 | |
Going Concern [Abstract] | ||
Net loss | $ 24,648 | |
Accumulated losses | (235,299) | $ (192,312) |
Current assets exceed its current liabilities | $ 18,973 |
Subsequent Events (Details)
Subsequent Events (Details) - USD ($) | Jul. 27, 2021 | Jul. 01, 2021 | Jun. 30, 2021 |
Subsequent Events [Abstract] | |||
Legal fee paid | $ 5,199 | $ 25,000 | |
Payment of final settlement to shareholders | $ 2,500 |