Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2020 | Sep. 16, 2020 | |
Document And Entity Information | ||
Entity Registrant Name | NOVA STAR INNOVATIONS INC | |
Entity Central Index Key | 0001160945 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2020 | |
Entity Incorporation, State or Country Code | WY | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 000-33399 | |
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 | 18,000,000 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2020 | |
Entity Shell Company | true |
Condensed Balance Sheets (Unaud
Condensed Balance Sheets (Unaudited) - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 |
CURRENT ASSETS | ||
Cash | $ 615 | $ 315 |
Total current assets | 615 | 315 |
TOTAL ASSETS | 615 | 315 |
CURRENT LIABILITIES | ||
Accounts payable – related party | 9,000 | 6,000 |
Accounts payable | 6,700 | 4,200 |
Notes payable – related party | 132,450 | 129,450 |
Notes payable | 89,176 | 89,176 |
Accrued interest – related party | 56,295 | 51,107 |
Accrued interest | 52,485 | 48,919 |
Total current liabilities | 346,106 | 328,852 |
TOTAL LIABILITIES | 346,106 | 328,852 |
STOCKHOLDERS' DEFICIT | ||
Common stock, $.001 par value; 20,000,000 shares authorized; 18,000,000 shares issued and outstanding | 18,000 | 18,000 |
Additional paid-in capital | 9,000 | 9,000 |
Accumulated deficit | (372,491) | (355,537) |
Stotal stockholders' deficit | (345,491) | (328,537) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 615 | $ 315 |
Condensed Balance Sheets (Paren
Condensed Balance Sheets (Parenthetical) - $ / shares | Jun. 30, 2020 | Dec. 31, 2019 |
Statement of Financial Position [Abstract] | ||
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, authorized | 20,000,000 | 20,000,000 |
Common stock, issued | 18,000,000 | 18,000,000 |
Common stock, outstanding | 18,000,000 | 18,000,000 |
Condensed Statements of Operati
Condensed Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Income Statement [Abstract] | ||||
Revenues | ||||
Expenses | ||||
General and administrative | 2,700 | 2,900 | 8,200 | 8,400 |
Total expenses | 2,700 | 2,900 | 8,200 | 8,400 |
Net loss before other expenses | (2,700) | (2,900) | (8,200) | (8,400) |
Other income (expense) | ||||
Interest expense – related party | (2,599) | (2,457) | (5,188) | (4,873) |
Interest expense | (1,783) | (1,735) | (3,566) | (3,439) |
Total other income (expense) | (4,382) | (4,192) | (8,754) | (8,312) |
Loss from operations before income taxes | (7,082) | (7,092) | (16,954) | (16,712) |
Income taxes | ||||
Net loss | $ (7,082) | $ (7,092) | $ (16,954) | $ (16,712) |
Basic and diluted net loss per share | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted average shares outstanding | 18,000,000 | 18,000,000 | 18,000,000 | 18,000,000 |
Condensed Statement of Stockhol
Condensed Statement of Stockholders’ Deficit (Unaudited) - USD ($) | Common Stock | Additional Paid-In Capital | Accumulated Deficit | Total |
Beginning balance, shares at Dec. 31, 2018 | 18,000,000 | |||
Beginning balance, amount at Dec. 31, 2018 | $ 18,000 | $ 9,000 | $ (324,545) | $ (297,545) |
Net loss | (9,620) | (9,620) | ||
Ending balance, shares at Mar. 31, 2019 | 18,000,000 | |||
Ending balance, amount at Mar. 31, 2019 | $ 18,000 | 9,000 | (334,165) | (307,165) |
Beginning balance, shares at Dec. 31, 2018 | 18,000,000 | |||
Beginning balance, amount at Dec. 31, 2018 | $ 18,000 | 9,000 | (324,545) | (297,545) |
Net loss | (16,712) | |||
Ending balance, shares at Jun. 30, 2019 | 18,000,000 | |||
Ending balance, amount at Jun. 30, 2019 | $ 18,000 | 9,000 | (341,257) | (314,257) |
Beginning balance, shares at Mar. 31, 2019 | 18,000,000 | |||
Beginning balance, amount at Mar. 31, 2019 | $ 18,000 | 9,000 | (334,165) | (307,165) |
Net loss | (7,092) | (7,092) | ||
Ending balance, shares at Jun. 30, 2019 | 18,000,000 | |||
Ending balance, amount at Jun. 30, 2019 | $ 18,000 | 9,000 | (341,257) | (314,257) |
Beginning balance, shares at Dec. 31, 2019 | 18,000,000 | |||
Beginning balance, amount at Dec. 31, 2019 | $ 18,000 | 9,000 | (355,537) | (328,537) |
Net loss | (9,872) | (9,872) | ||
Ending balance, shares at Mar. 31, 2020 | 18,000,000 | |||
Ending balance, amount at Mar. 31, 2020 | $ 18,000 | 9,000 | (365,409) | (338,409) |
Beginning balance, shares at Dec. 31, 2019 | 18,000,000 | |||
Beginning balance, amount at Dec. 31, 2019 | $ 18,000 | 9,000 | (355,537) | (328,537) |
Net loss | (16,954) | |||
Ending balance, shares at Jun. 30, 2020 | 18,000,000 | |||
Ending balance, amount at Jun. 30, 2020 | $ 18,000 | 9,000 | (372,491) | (345,491) |
Beginning balance, shares at Mar. 31, 2020 | 18,000,000 | |||
Beginning balance, amount at Mar. 31, 2020 | $ 18,000 | 9,000 | (365,409) | (338,409) |
Net loss | (7,082) | (7,082) | ||
Ending balance, shares at Jun. 30, 2020 | 18,000,000 | |||
Ending balance, amount at Jun. 30, 2020 | $ 18,000 | $ 9,000 | $ (372,491) | $ (345,491) |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Cash Flows from Operating Activities | ||
Net Loss | $ (16,954) | $ (16,712) |
Adjustments to reconcile net loss to cash used by operating activities: | ||
Expenses paid by related party | 3,000 | 3,000 |
Changes in operating assets and liabilities: | ||
Accounts payable | 2,500 | 100 |
Increase in accrued interest - related party | 5,188 | 4,873 |
Increase in accrued interest | 3,566 | 3,439 |
Net cash used by operating activities | (2,700) | (5,300) |
Cash Flows from Investing Activities | ||
Net cash provided (used) by investing activities | ||
Cash Flows from Financing Activities | ||
Proceeds from notes payable - related party | 3,000 | 1,500 |
Proceeds from notes payable | 4,000 | |
Net cash provided by financing activities | 3,000 | 5,500 |
Increase (decrease) in cash | 300 | 200 |
Cash and cash equivalents at beginning of period | 315 | 115 |
Cash and cash equivalents at end of period | 615 | 315 |
Supplemental Cash Flow Information: | ||
Cash paid for interest | ||
Cash paid for income taxes |
CONDENSED FINANCIAL STATEMENTS
CONDENSED FINANCIAL STATEMENTS | 6 Months Ended |
Jun. 30, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [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 June 30, 2020 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, 2019 audited financial statements as reported in its Form 10-K. The results of operations for the period ended June 30, 2020 are not necessarily indicative of the operating results for the full year ended December 31, 2020. |
GOING CONCERN
GOING CONCERN | 6 Months Ended |
Jun. 30, 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. 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. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 6 Months Ended |
Jun. 30, 2020 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 3 – RELATED PARTY TRANSACTIONS During the six months ended June 30, 2020, a shareholder invoiced the Company $3,000 for consulting, administrative and professional services and out-of-pocket costs provided or paid on behalf of the Company. As of June 30, 2020 and December 31, 2019, the Company owed the shareholder $9,000 and $6,000, respectively. During the six months ended June 30, 2020, a shareholder loaned the Company $3,000. The notes bear interest at 8% and are due on demand. Notes payable at June 30, 2020 and December 31, 2019 were $132,450 and $129,450, respectively. Accrued interest at June 30, 2020 and December 31, 2019 was $56,295 and $51,107, respectively. |
NOTES PAYABLE
NOTES PAYABLE | 6 Months Ended |
Jun. 30, 2020 | |
Debt Disclosure [Abstract] | |
NOTES PAYABLE | NOTE 4 – NOTES PAYABLE A third party has loaned the Company $89,176. The notes bear interest at 8% and are due on demand. Notes payable at June 30, 2020 and December 31, 2019 were $89,176. Accrued interest at June 30, 2020 and December 31, 2019 was $52,485 and $48,919, respectively. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 6 Months Ended |
Jun. 30, 2020 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 5 – SUBSEQUENT EVENTS The Company has evaluated subsequent events from the balance sheet date through the date the financial statements were issued and has determined that there are no such events that would have a material impact on the financial statements. |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Related Party Transactions [Abstract] | |||
Consulting, administrative and professional costs provided for or paid on behalf of Company by shareholder | $ 3,000 | ||
Amounts due to shareholder | 9,000 | $ 6,000 | |
Amounts loaned to Company by shareholder | 3,000 | ||
Notes payable - related party | 132,450 | 129,450 | |
Accrued interest on notes payable - related party | $ 56,295 | $ 51,107 | |
Interest rate on notes payable - related party | 8.00% | 8.00% |
NOTES PAYABLE (Details Narrativ
NOTES PAYABLE (Details Narrative) - USD ($) | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Debt Disclosure [Abstract] | |||
Notes payable - current | $ 89,176 | $ 89,176 | |
Interest rate | 8.00% | 8.00% | |
Accrued interest on notes payable | $ 52,485 | $ 48,919 |