Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2016 | Nov. 14, 2016 | |
Document and Entity Information | ||
Entity Registrant Name | AMANASU ENVIRONMENT CORP | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2016 | |
Amendment Flag | false | |
Entity Central Index Key | 1,142,801 | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 44,100,816 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q3 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Current Assets: | ||
Cash | $ 5,022 | $ 44,279 |
Total current assets | 5,022 | 44,279 |
Fixed Assets: | ||
Total Assets | 5,022 | 44,279 |
Current Liabilities: | ||
Accounts payable and accrued expenses | 28,781 | 17,916 |
Accrued interest - shareholders | 14,329 | 7,459 |
Taxes payable | 33,280 | 28,057 |
Loans from shareholder | 227,261 | 214,191 |
Due to related parties | 32,601 | 46,184 |
Total current liabilities | 336,252 | 313,807 |
Total liabilities | 336,252 | 313,807 |
Stockholders' Equity: | ||
Common Stock: authorized 100,000,000 shares of $.001 par value;44,100,816 and 44,100,816 shares issued and outstanding, respectively | 44,101 | 44,101 |
Additional paid in capital | 4,793,552 | 4,793,552 |
Accumulated deficit | (5,172,423) | (5,112,581) |
Accumulated other comprehensive income | 3,730 | 5,590 |
Total Amanasu Environment Corporation stockholders' deficit | (331,040) | (269,338) |
Non controlling interest in subsidiary | (190) | (190) |
Total stockholders' eficit | (331,230) | (269,528) |
Total Liabilities and Stockholders' Deficit | $ 5,022 | $ 44,279 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Sep. 30, 2016 | Dec. 31, 2015 |
Statement of Financial Position [Abstract] | ||
Common stock shares authorized | 100,000,000 | 100,000,000 |
Common stock shares par value | $ 0.001 | $ 0.001 |
Common stock shares issued | 44,100,816 | 44,100,816 |
Common stock shares outstanding | 44,100,816 | 44,100,816 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Income Statement [Abstract] | ||||
Revenue | $ 0 | $ 0 | $ 0 | $ 0 |
Cost of revenue | 0 | 0 | 0 | 0 |
Gross profit | 0 | 0 | 0 | 0 |
General and administrative expenses | 15,073 | 36,021 | 52,972 | 50,289 |
Total operating expenses | 15,073 | 36,021 | 52,972 | 50,289 |
Operating loss | (15,073) | (36,021) | (52,972) | (50,289) |
Other Expense: | ||||
Interest expense - shareholders | (2,188) | (1,915) | (6,870) | (4,789) |
Net Loss | (17,261) | (37,936) | (59,842) | (55,078) |
Other Comprehensive Loss: | ||||
Attributable to controlling interest | 0 | 0 | 0 | 4 |
Income (loss) on foreign currency conversion | (212) | 0 | (1,860) | (45) |
Total Comprehensive Loss | $ (17,473) | $ (37,936) | $ (61,702) | $ (55,119) |
Net Loss Per Share - basic and diluted | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted average number of shares outstanding | 44,100,816 | 44,100,816 | 44,100,816 | 44,100,816 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
CASH FLOWS FROM OPERATIONS | ||
Net loss | $ (59,842) | $ (55,078) |
Changes in assets and liabilities: | ||
Increase (decrease) in accounts payable and accrued expenses | 16,948 | (10,381) |
Increase in taxes payable | 0 | (640) |
Total Cash Used in Operating Activities | (42,894) | (66,099) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Redemptions of certificates of deposit | 0 | 1,000 |
Total Cash Provided by Investing Activities | 0 | 1,000 |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Advances from shareholder, net | 11,800 | 33,730 |
Repayment to related parties | (8,163) | 0 |
Officer advances | 0 | 73,399 |
Total Cash Provided by Financing Activities | 3,637 | 107,129 |
Effect of Exchange rate changes | 0 | 228 |
Net Change In Cash | (39,257) | 42,258 |
Cash balance, beginning of period | 44,279 | 8,030 |
Cash balance, end of period | 5,022 | 50,288 |
Supplemental disclosures of cash flow information: | ||
Cash paid for interest | 0 | 0 |
Cash paid for income taxes | $ 0 | $ 0 |
1. BASIS OF PRESENTATION
1. BASIS OF PRESENTATION | 9 Months Ended |
Sep. 30, 2016 | |
Disclosure Text Block [Abstract] | |
1. BASIS OF PRESENTATION | In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments necessary to present fairly the financial position of the Company as of September 30, 2016, the results of operations for the three and nine months ended September 30, 2016 and 2015, and statements of cash flows for the nine months ended September 30, 2016 and 2015. These results are not necessarily indicative of the results to be expected for the full year. The financial statements have been prepared in accordance with the requirements of Form 10-Q and consequently do not include disclosures normally made in an Annual Report on Form 10-K. The December 31, 2015 balance sheet included herein was derived from the audited financial statements included in the Company’s Annual Report on Form 10-K as of that date. Accordingly, the financial statements included herein should be reviewed in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015, as filed with the Securities and Exchange Commission (“SEC”) on March 31, 2016 (the “Annual Report”). |
2. GOING CONCERN
2. GOING CONCERN | 9 Months Ended |
Sep. 30, 2016 | |
Disclosure Text Block [Abstract] | |
2. GOING CONCERN | The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As shown in the financial statements, the Company had a working capital deficiency of $331,230 and an accumulated deficit of $5,172,423 at September 30, 2016, and a record of continuing losses. These factors raise substantial doubt about the ability of the Company to continue as a going concern. The financial statements do not include adjustments relating to the recoverability of assets and classification of liabilities that might be necessary should the Company be unable to continue in operation. The Company's present plans, the realization of which cannot be assured, to overcome these difficulties include, but are not limited to, a continuing effort to investigate business acquisitions and joint ventures. As such, the Company may need to pursue additional sources of financing. There can be no assurances that the Company can secure additional financing. |
3. RELATED PARTY TRANSACTIONS
3. RELATED PARTY TRANSACTIONS | 9 Months Ended |
Sep. 30, 2016 | |
Disclosure Text Block [Abstract] | |
3. RELATED PARTY TRANSACTIONS | The Company receives periodic advances from its principal stockholders and officers based upon the Company’s cash flow needs. All advances bear interest at 4.45%. At September 30, 2016 and December 31, 2015, $227,261 and $214,191, respectively, was due to the shareholders and officers, and accrued interest of $14,329, and $7,459 at September 30, 2016 and December 31, 2015, respectively. Interest expense associated with this loan was $2,188 and $6,870 for the three and nine months ended September 30, 2016, respectively, as compared to $1,915 and $4,789 for the three and nine months ended September 30, 2015, respectively. No terms for repayment have been established. As a result, the amount is classified as a current liability. At September 30, 2016 and December 31, 2015, amounts due to related were $32,601 and $46,184, respectively, which are non-interest bearing and due on demand. |
4. INCOME TAXES
4. INCOME TAXES | 9 Months Ended |
Sep. 30, 2016 | |
Income Taxes | |
4. INCOME TAXES | Deferred income taxes are recorded to reflect the tax consequences or benefits to future years of any temporary differences between the tax basis of assets and liabilities, and of net operating loss carryforwards. The Company has experienced losses since its inception. As a result, it has incurred no Federal income tax. Under pronouncements of the FASB, recognition of deferred tax assets is permitted unless it is more likely than not that the assets will not be realized. The Company has recorded a 100% valuation allowance against deferred taxes. |
5. NEW AUTHORITATIVE ACCOUNTING
5. NEW AUTHORITATIVE ACCOUNTING GUIDANCE | 9 Months Ended |
Sep. 30, 2016 | |
New Authoritative Accounting Guidance | |
5. NEW AUTHORITATIVE ACCOUNTING GUIDANCE | From time to time, new accounting pronouncements are issues by the Financial Accounting Standards Board or other standard bodies that may have an impact on the Company's accounting and reporting. The Company believes that such recently issued accounting pronouncements and other authoritative guidance for which the effective date is in the future either will not have an impact on its accounting or reporting or that such impact will not be material to its financial position, results of operations, and cash flows when implemented. |
6. SUBSEQUENT EVENTS
6. SUBSEQUENT EVENTS | 9 Months Ended |
Sep. 30, 2016 | |
Subsequent Events [Abstract] | |
6. SUBSEQUENT EVENTS | The Company evaluated subsequent events, which are events or transactions that occurred after September 30, 2016 through the issuance of the accompanying financial statements, and determined that no significant event needs to be disclosed in these consolidated financial statements |
2. GOING CONCERN (Details Narra
2. GOING CONCERN (Details Narrative) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Going Concern Details Narrative | ||
Working capital | $ (331,230) | |
Accumulated deficit | $ (5,172,423) | $ (5,112,581) |
3. RELATED PARTY TRANSACTIONS (
3. RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Due to related party | $ 32,601 | $ 32,601 | $ 46,184 | ||
Shareholders And Officers | |||||
Due to related party | 227,261 | 227,261 | 214,191 | ||
Accrued interest | 14,329 | 14,329 | $ 7,459 | ||
Interest expense | $ 2,188 | $ 6,870 | $ 1,915 | $ 4,789 |