Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Feb. 29, 2020 | Apr. 14, 2020 | |
Document And Entity Information | ||
Entity Registrant Name | LZG International, Inc. | |
Entity Central Index Key | 0001126115 | |
Current Fiscal Year End Date | --05-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Shell Company | true | |
Entity Emerging Growth Company | true | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Feb. 29, 2020 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2020 | |
Entity Current Reporting Status | Yes | |
Entity Common Stock, Shares Outstanding | 250,556 | |
Entity Transition Period | false |
Condensed Balance Sheets (Unaud
Condensed Balance Sheets (Unaudited) - USD ($) | Feb. 29, 2020 | May 31, 2019 |
Current Assets | ||
Cash | $ 209 | $ 434 |
Total Current Assets | 209 | 434 |
Total Assets | 209 | 434 |
Current Liabilities | ||
Accounts Payable | 2,450 | |
Accounts Payable - related party | 10,600 | 6,100 |
Notes Payable - related party | 101,900 | 98,800 |
Notes Payable | 59,100 | 59,100 |
Accrued interest - related party | 13,554 | 7,526 |
Accrued Interest | 23,759 | 20,213 |
Total Current Liabilities | 211,363 | 191,739 |
Long-Term Liabilities | ||
Notes Payable- related party | 23,500 | 23,500 |
Accrued Interest- related party | 18,867 | 17,457 |
Total Long-term Liabilities | 42,367 | 40,957 |
Total Liabilities | 253,730 | 232,696 |
Stockholders' Deficit | ||
Preferred stock, $0.001 par value, 20,000,000 shares authorized, none issued and outstanding | ||
Common Stock, $0.001 par value, 100,000,000 shares authorized, 250,556 shares issued and outstanding | 251 | 251 |
Additional Paid in Capital | 3,063,134 | 3,063,134 |
Accumulated Deficit | (3,316,906) | (3,295,647) |
Total Stockholders' Equity (Deficit) | (253,521) | (232,262) |
Total Liabilities and Stockholders' Equity (Deficit) | $ 209 | $ 434 |
Condensed Balance Sheets (Una_2
Condensed Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Feb. 29, 2020 | May 31, 2019 |
Statement of Financial Position [Abstract] | ||
Preferred stock; par value | $ 0.001 | $ 0.001 |
Preferred stock; shares authorized | 20,000,000 | 20,000,000 |
Preferred stock; shares issued | ||
Preferred stock; shares outstanding | ||
Common stock; par value | $ 0.001 | $ 0.001 |
Common Stock; shares authorized | 100,000,000 | 100,000,000 |
Common stock; shares issued | 250,556 | 250,556 |
Common stock; shares outstanding | 250,556 | 250,556 |
Condensed Statements of Operati
Condensed Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Feb. 29, 2020 | Feb. 28, 2019 | Feb. 29, 2020 | Feb. 28, 2019 | |
Income Statement [Abstract] | ||||
Revenues | ||||
Expenses | ||||
General and administrative | 2,725 | 2,625 | 10,275 | 11,455 |
Total Expenses | 2,725 | 2,625 | 10,275 | 11,455 |
Net Operating Loss Before Other Expense | (2,725) | (2,625) | (10,275) | (11,455) |
Other Income (Expense) | ||||
Interest Expense | (1,182) | (1,127) | (3,546) | (3,246) |
Interest Expense- related party | (2,508) | (2,320) | (7,438) | (6,960) |
Total Other Expense | (3,690) | (3,447) | (10,984) | (10,206) |
Loss Before Income Taxes | (6,415) | (6,072) | (21,259) | (21,661) |
Income taxes | ||||
Net Loss | $ (6,415) | $ (6,072) | $ (21,259) | $ (21,661) |
Net Loss Per Share | $ (0.03) | $ (0.02) | $ (0.08) | $ (0.09) |
Weighted Average Shares Outstanding | 250,556 | 250,556 | 250,556 | 250,556 |
Condensed Statement of Stockhol
Condensed Statement of Stockholders Equity (Deficit) (Unaudited) - USD ($) | Common Stock | Additional Paid-In Capital | Accumulated Deficit | Total |
Beginning Balance at May. 31, 2018 | $ 251 | $ 3,063,134 | $ (3,267,758) | $ (204,373) |
Beginning Balance (in shares) at May. 31, 2018 | 250,556 | |||
Net loss | (8,182) | (8,182) | ||
Ending Balance at Aug. 31, 2018 | $ 251 | 3,063,134 | (3,275,940) | (212,555) |
Ending Balance (in shares) at Aug. 31, 2018 | 250,556 | |||
Beginning Balance at May. 31, 2018 | $ 251 | 3,063,134 | (3,267,758) | (204,373) |
Beginning Balance (in shares) at May. 31, 2018 | 250,556 | |||
Net loss | (21,661) | |||
Ending Balance at Feb. 28, 2019 | $ 251 | 3,063,134 | (3,289,419) | (226,034) |
Ending Balance (in shares) at Feb. 28, 2019 | 250,556 | |||
Beginning Balance at Aug. 31, 2018 | $ 251 | 3,063,134 | (3,275,940) | (212,555) |
Beginning Balance (in shares) at Aug. 31, 2018 | 250,556 | |||
Net loss | (7,407) | (7,407) | ||
Ending Balance at Nov. 30, 2018 | $ 251 | 3,063,134 | (3,283,347) | (219,964) |
Ending Balance (in shares) at Nov. 30, 2018 | 250,556 | |||
Net loss | (6,072) | (6,072) | ||
Ending Balance at Feb. 28, 2019 | $ 251 | 3,063,134 | (3,289,419) | (226,034) |
Ending Balance (in shares) at Feb. 28, 2019 | 250,556 | |||
Beginning Balance at May. 31, 2019 | $ 251 | 3,063,134 | (3,295,647) | (232,262) |
Beginning Balance (in shares) at May. 31, 2019 | 250,556 | |||
Net loss | (8,453) | (8,453) | ||
Ending Balance at Aug. 31, 2019 | $ 251 | 3,063,134 | (3,304,100) | (240,715) |
Ending Balance (in shares) at Aug. 31, 2019 | 250,556 | |||
Beginning Balance at May. 31, 2019 | $ 251 | 3,063,134 | (3,295,647) | (232,262) |
Beginning Balance (in shares) at May. 31, 2019 | 250,556 | |||
Net loss | (21,259) | |||
Ending Balance at Feb. 29, 2020 | (253,521) | |||
Beginning Balance at Aug. 31, 2019 | $ 251 | 3,063,134 | (3,304,100) | (240,715) |
Beginning Balance (in shares) at Aug. 31, 2019 | 250,556 | |||
Net loss | (6,391) | (6,391) | ||
Ending Balance at Nov. 30, 2019 | $ 251 | 3,063,134 | (3,310,491) | (247,106) |
Ending Balance (in shares) at Nov. 30, 2019 | 250,556 | |||
Net loss | (6,415) | (6,415) | ||
Ending Balance at Feb. 28, 2020 | $ 251 | 3,063,134 | (3,316,906) | (253,521) |
Ending Balance (in shares) at Feb. 28, 2020 | 250,556 | |||
Beginning Balance at Nov. 30, 2019 | $ 251 | $ 3,063,134 | $ (3,310,491) | (247,106) |
Beginning Balance (in shares) at Nov. 30, 2019 | 250,556 | |||
Net loss | (6,415) | |||
Ending Balance at Feb. 29, 2020 | $ (253,521) |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Feb. 29, 2020 | Feb. 28, 2019 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net Loss | $ (21,259) | $ (21,661) |
Changes in assets and liabilities | ||
Accounts payable - related party | 4,500 | 4,800 |
Accounts payable | 2,450 | (325) |
Accrued interest | 3,546 | 3,246 |
Accrued interest- related party | 7,438 | 6,960 |
Net cash provided (Used) by Operating Activities | (3,325) | (6,980) |
Cash Flows From Investing Activities | ||
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from advances and notes payable - related party | 3,100 | 6,700 |
Net cash provided by Financing Activities | 3,100 | 6,700 |
Increase (Decrease) in Cash | (225) | (280) |
Cash and Cash Equivalents, Beginning of Period | 434 | 539 |
Cash and Cash Equivalents, End of Period | 209 | 1,084 |
Cash Paid for: | ||
Interest | ||
Income taxes |
Basis of Financial Statement Pr
Basis of Financial Statement Presentation | 9 Months Ended |
Feb. 29, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Financial Statement Presentation | NOTE 1– BASIS OF FINANCIAL STATEMENT PRESENTATION The accompanying unaudited condensed financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted in accordance with such rules and regulations. The information furnished in the interim condensed financial statements includes normal recurring adjustments and reflects all adjustments, which, in the opinion of management, are necessary for a fair presentation of such financial statements. Although management believes the disclosures and information presented are adequate to make the information not misleading, it is suggested that these interim condensed financial statements be read in conjunction with the Company’s audited financial statements and notes thereto included in its May 31, 2019 Annual Report on Form 10-K. Operating results for the nine months ended February 29, 2020 are not necessarily indicative of the results to be expected for year ending May 31, 2020. |
Going Concern
Going Concern | 9 Months Ended |
Feb. 29, 2020 | |
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. |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Feb. 29, 2020 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | NOTE 3 – RELATED PARTY TRANSACTIONS The financial statements include related party transactions, which as of February 29, 2020, included loans from an officer of the Company totaling $23,500. The loans had an original due date of June 30, 2014, but principal and interest maturities have been extended to June 30, 2022. The loans are not collateralized, and bear interest at 8% per annum. Interest expense was $1,410 for the nine months ended February 29, 2020 and $470 for the three months ended February 29, 2020, resulting in accrued interest of $18,867 and $17,457 at February 29, 2020 and May 31, 2019, respectively. During the nine months ended February 29, 2020, a stockholder, paid for administrative and professional services totaling $4,500, resulting in amounts payable to the stockholder of $10,600 and $6,100 as of February 29, 2020 and May 31, 2019, respectively. On May 31, 2018 the stockholder converted $92,500 of its accounts payable to a promissory note, which bears interest at 8% per annum and is due on demand. Interest expense was $6,028 for the nine months ended February 29, 2020 and $2,038 for the three months ended February 29, 2020, resulting in accrued interest of $13,554 and $7,526 at February 29, 2020 and May 31, 2019, respectively. |
Loan Payable
Loan Payable | 9 Months Ended |
Feb. 29, 2020 | |
Payables and Accruals [Abstract] | |
Loan Payable | NOTE 4 – LOAN PAYABLE The Company borrowed $59,100 from a third party. The loan is due on demand, is not collateralized, and bears interest at 8% per annum. Interest expense was $3,546 for the nine months ended February 29, 2020 and $1,182 for the three months ended February 29, 2020, resulting in accrued interest of $23,759 and $20,213 at February 29, 2020 and May 31, 2019, respectively. |
Subsequent Events
Subsequent Events | 9 Months Ended |
Feb. 28, 2019 | |
Subsequent Events [Abstract] | |
Subsequent Events | NOTE 5 – SUBSEQUENT EVENTS The Company has evaluated subsequent events from the balance sheet date through the date the financial statements were issued and has determined that there are no such events that would have a material impact on the financial statements. |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | |
Feb. 29, 2020 | Feb. 29, 2020 | May 31, 2019 | |
Interest expense | $ 470 | $ 1,410 | |
Interest rate | 8.00% | ||
Accrued Interest- related party | 18,867 | $ 18,867 | $ 17,457 |
Accounts Payable - related party | 10,600 | 10,600 | 6,100 |
Notes Payable - related party | 101,900 | 101,900 | 98,800 |
Administrative and professional services | 4,500 | ||
Amounts payable to stockholders | 10,600 | 10,600 | 6,100 |
Promissory Note | |||
Loan Payable - related party | $ 92,500 | $ 92,500 | |
Interest rate | 8.00% | 8.00% | |
Interest expense | $ 2,038 | $ 6,028 | |
Accrued Interest- related party | 13,554 | 13,554 | $ 7,526 |
Officer | |||
Loan Payable - related party | $ 23,500 | $ 23,500 | |
Interest rate | 8.00% | 8.00% |
Loan Payable (Details Narrative
Loan Payable (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Feb. 29, 2020 | Feb. 28, 2019 | Feb. 29, 2020 | Feb. 28, 2019 | May 31, 2019 | |
Payables and Accruals [Abstract] | |||||
Notes Payable | $ 59,100 | $ 59,100 | $ 59,100 | ||
Interest Expense | 1,182 | $ 1,127 | 3,546 | $ 3,246 | |
Accrued Interest | $ 23,759 | $ 20,213 | $ 23,759 | $ 20,213 | $ 20,213 |
Interest rate | 8.00% |