Skinovation Pharmaceutical 10-Q 17 May 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2021	May 17, 2021
Document And Entity Information
Entity Registrant Name	SKINOVATION PHARMACEUTICAL INC
Entity Central Index Key	0001118072
Document Type	10-Q
Document Period End Date	Mar. 31, 2021
Entity Incorporation, State or Country Code	WY
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity File Number	000-30991
Is Entity's Reporting Status Current?	Yes
Entity Interactive Data Current	Yes
Is Entity Emerging Growth Company?	true
Elected Not To Use the Extended Transition Period	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Common Stock, Shares Outstanding		708,000
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2021
Entity Shell Company	true

Condensed Balance Sheets (Unaud

Condensed Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Current Assets
Cash	$ 1,852	$ 3,552
Total Current Assets	1,852	3,552
Total Assets	1,852	3,552
Current Liabilities
Accounts payable	9,700	6,000
Notes payable	230,521	230,521
Accrued interest	116,783	112,173
Total Current Liabilities	357,004	348,694
Total Liabilities	357,004	348,694
Stockholders' Deficit
Preferred stock, $.001 par value; 25,000,000 shares authorized; 0 shares issued and outstanding
Common stock, $.001 par value; 50,000,000 shares authorized; 708,000 shares issued and outstanding	708	708
Additional paid-in capital	25,148	25,148
Accumulated deficit	(381,008)	(370,998)
Total Stockholders' Deficit	(355,152)	(345,142)
Total Liabilities and Stockholders' Deficit	$ 1,852	$ 3,552

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, authorized	25,000,000	25,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, authorized	50,000,000	50,000,000
Common stock, issued	708,000	708,000
Common stock, outstanding	708,000	708,000

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
REVENUES
OPERATING EXPENSES
General and administrative	5,400	5,415
TOTAL EXPENSES	5,400	5,415
Loss from operations	(5,400)	(5,415)
OTHER EXPENSE
Interest expense	(4,610)	(4,187)
Total other income (expense)	(4,610)	(4,187)
LOSS BEFORE INCOME TAXES	(10,010)	(9,602)
INCOME TAX EXPENSE
NET LOSS	$ (10,010)	$ (9,602)
Basic and diluted net loss per share	$ (0.01)	$ (0.01)
Basic and diluted weighted average shares outstanding	708,000	708,000

Condensed Statements of Stockho

Condensed Statements of Stockholders’ Deficit (Unaudited) - USD ($)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Beginning balance, shares at Dec. 31, 2019	708,000
Beginning balance, amount at Dec. 31, 2019	$ 708	$ 25,148	$ (340,041)	$ (314,185)
Net loss			(9,602)	(9,602)
Ending balance, shares at Mar. 31, 2020	708,000
Ending balance, amount at Mar. 31, 2020	$ 708	25,148	(349,643)	(323,787)
Beginning balance, shares at Dec. 31, 2020	708,000
Beginning balance, amount at Dec. 31, 2020	$ 708	25,148	(370,998)	(345,142)
Net loss			(10,010)	(10,010)
Ending balance, shares at Mar. 31, 2021	708,000
Ending balance, amount at Mar. 31, 2021	$ 708	$ 25,148	$ (381,008)	$ (355,152)

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash Flows from Operating Activities
Net loss	$ (10,010)	$ (9,602)
Changes in operating assets and liabilities:
Increase in accounts payable	3,700	4,200
Increase in accrued interest	4,610	4,187
Net cash used by operating activities	(1,700)	(1,215)
Cash Flows from Investing Activities
Net cash used by investing activities
Cash Flows from Financing Activities
Proceeds from notes payable		1,200
Net cash provided by financing activities		1,200
Increase (decrease) in cash	(1,700)	(15)
Cash and cash equivalents at beginning of period	3,552	77
Cash and cash equivalents at end of period	1,852	62
Supplemental Cash Flow Information:
Cash paid for interest
Cash paid for income taxes

CONDENSED FINANCIAL STATEMENTS

CONDENSED FINANCIAL STATEMENTS	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
CONDENSED FINANCIAL STATEMENTS	NOTE 1 – CONDENSED FINANCIAL STATEMENTS The accompanying financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows as of and for the period ended March 31, 2021 and for all periods presented have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s December 31, 2020 audited financial statements as reported in its Form 10-K. The results of operations for the period ended March 31, 2021 are not necessarily indicative of the operating results for the full year ended December 31, 2021.

GOING CONCERN

GOING CONCERN	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN	NOTE 2 – GOING CONCERN The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company has limited assets, has incurred losses since inception, has negative cash flows from operations, and has no revenue-generating activities. Its activities have been limited for the past several years and it is dependent upon financing to continue operations. These factors raise substantial doubt about the ability of the Company to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. It is management’s plan to acquire or merge with other operating companies. The COVID-19 pandemic could have an impact on our ability to obtain financing to fund our operations. The Company is unable to predict the ultimate impact at this time.

ACCOUNTS AND NOTES PAYABLE

ACCOUNTS AND NOTES PAYABLE	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
ACCOUNTS AND NOTES PAYABLE	NOTE 3 – ACCOUNTS AND NOTES PAYABLE At March 31, 2021 and December 31, 2020, the Company had accounts payable of $9,700 and $6,000, respectively, and notes payable of $230,521 and $230,521, respectively, for services as well as cash advances received from unrelated parties. The Company received $0 and $1,200 in note payable proceeds during the three months ended March 31, 2021 and 2020, respectively. The notes payable bear interest at 8% and are due on demand. Accrued interest on the notes was $116,783 and $112,173 at March 31, 2021 and December 31, 2020, respectively.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 4 – SUBSEQUENT EVENTS The Company has evaluated subsequent events from the balance sheet date through the date the financial statements were issued and has determined that there are no such events that would have a material impact on the financial statements.

ACCOUNTS AND NOTES PAYABLE (Det

ACCOUNTS AND NOTES PAYABLE (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Debt Disclosure [Abstract]
Accounts payable	$ 9,700		$ 6,000
Notes payable	230,521		230,521
Amounts received in note payable proceeds		$ 1,200
Interest rate	8.00%	8.00%
Accrued interest	$ 116,783		$ 112,173