Amanasu Techno (ANSU) 10-Q 14 Nov 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Nov. 07, 2018
Document and Entity Information
Entity Registrant Name	AMANASU TECHNO HOLDINGS CORP
Document Type	10-Q
Document Period End Date	Sep. 30, 2018
Amendment Flag	false
Entity Central Index Key	1,168,663
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		49,956,300
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Current Reporting Status	Yes
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Current Assets:
Cash	$ 4,989	$ 5,014
Total current assets	4,989	5,014
Total Assets	4,989	5,014
Current Liabilities:
Accrued expenses - shareholders and officers	117,379	99,650
Accrued expenses - other	1,500	0
Due to affiliate	53,969	33,122
Advances from stockholders and officers	312,840	292,475
Deposit on stock purchase	61,030	61,030
Total current liabilities	546,718	486,277
Stockholders' Deficit:
Common Stock: authorized 100,000,000 shares of $.001 par value; 46,956,300 shares issued and outstanding	46,956	46,956
Additional paid in capital	1,552,891	1,552,891
Accumulated deficit	(2,141,576)	(2,081,110)
Total stockholders' deficit	(541,729)	(481,263)
Total Liabilities and Stockholders' Deficit	$ 4,989	$ 5,014

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2018	Dec. 31, 2017
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	46,956,300	46,956,300
Common stock shares outstanding	46,956,300	46,956,300

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenue
Revenue	$ 0	$ 0	$ 0	$ 0
Cost of Goods Sold	0	0	0	0
Gross Profit	0	0	0	0
General and administrative expenses	13,129	13,822	50,238	52,665
Total operating expenses	13,129	13,822	50,238	52,665
Operating loss	(13,129)	(13,822)	(50,238)	(52,665)
Other Income (Expense):
Interest Expense	(3,521)	(3,246)	(10,228)	(9,335)
Loss before income taxes	(16,650)	(17,068)	(60,466)	(62,000)
Income taxes	0	0	0	0
Net loss	$ (16,650)	$ (17,068)	$ (60,466)	$ (62,000)
Loss per share - Basic and Diluted	$ 0	$ 0	$ 0	$ 0
Weighted average number of common shares outstanding	46,956,300	46,956,300	46,956,300	46,956,300

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
CASH FLOWS FROM OPERATIONS
Net loss	$ (60,466)	$ (62,000)
Changes in assets and liabilities:
Increase in accrued expenses - shareholders and officers	17,729	16,835
Accrued expenses - other	1,500	0
Total Cash Used in Operating Activities	(41,237)	(45,165)
CASH FLOWS FROM FINANCING ACTIVITIES
Increase in amounts due to affiliate	20,847	27,100
Proceeds from loans from stockholders and officers	20,365	18,221
Total Cash Provided by Financing Activities	41,212	45,321
Net Change In Cash	(25)	156
Cash balance, beginning of period	5,014	5,018
Cash balance, end of period	4,989	5,174
Supplemental disclosures of cash flow information:
Cash paid for interest	0	0
Cash paid for taxes	$ 0	$ 0

1. BASIS OF PRESENTATION

1. BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2018
Disclosure Text Block [Abstract]
1. BASIS OF PRESENTATION	The unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and the rules and regulations of the Securities and Exchange Commission. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the accompanying unaudited financial statements contain all adjustments (consisting of normal recurring accruals) necessary to present fairly the financial position of the Company as of September 30, 2018, the results of operations for the three and nine months ended September 30, 2018 and 2017 and cash flows for the nine months ended September 30, 2018 and 2017. These results are not necessarily indicative of the results to be expected for the full year or any other period. The December 31, 2017 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, 2017, as filed with the Securities and Exchange Commission (“SEC”) on April 10, 2018.

2. GOING CONCERN UNCERTAINTY

2. GOING CONCERN UNCERTAINTY	9 Months Ended
	Sep. 30, 2018
Disclosure Text Block [Abstract]
2. GOING CONCERN UNCERTAINTY	The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As shown in the consolidated financial statements, the Company had a working capital deficiency of $541,729 and an accumulated deficit of $2,141,576 at September 30, 2018, and a record of continuing losses. These factors, among others, raise substantial doubt about the ability of the Company to continue as a going concern. The consolidated 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 operations to date have been limited to conducting various tests on its technologies and seeking financing. The Company will continue to develop and market two technologies, which the Company believes have great market potential. As such, the Company continues to pursue additional sources of financing. There can be no assurances that the Company can secure additional financing. . The present plans, the realization of which cannot be assured, to overcome these difficulties also include, but are not limited to, a continuing effort to investigate business acquisitions and joint ventures.

3. SUMMARY OF SIGNIFICANT ACCOU

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	During the nine months ended September 30, 2018, there have been no material changes in the Company’s significant accounting policies to those previously disclosed in the Annual Report. No recently issued accounting pronouncements had or are expected to have a material impact on the Company’s consolidated financial statements.

4. RELATED PARTY TRANSACTIONS

4. RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2018
Disclosure Text Block [Abstract]
4. RELATED PARTY TRANSACTIONS	The Company receives periodic advances from its principal stockholders and officers based upon the Company’s cash flow needs. There is no written loan agreement between the Company and the stockholders and officers. All advances bear interest at 4.45% and no repayment terms have been established. As a result, the amount is classified as a current liability. During the nine months ended September 30, 2018, the Company borrowed $20,365 from a stockholder. The balance due as of September 30, 2018 and December 31, 2017 were $312,840 and $292,475, respectively. Interest expense associated with these loans were $3,521 and $10,228 for the three and nine months ended September 30, 2018 as compared to $3,246 and $9,335 for the three and nine months ended September 30, 2017. Accrued interest on these loans were $74,349 and $64,120 at September 30, 2018 and December 31, 2017, respectively. The Company has an arrangement with Lina Maki, a stockholder of the Company, for her management consulting time. The agreement is not written and no payment terms have been established. The fee is $10,000 annually. As of September 30, 2018 and December 31, 2017 amounts due to the stockholder were $37,500 and $30,000, respectively. The Company also leases it office space from a stockholder of the Company. At September 30, 2018 and December 31, 2017, amounts due to the stockholder was $3,630. For the most part, lease payments are made by the Company’s affiliate. As such, when the lease payments are made by the Company’s affiliate or the lease payments are made by the Company on behalf of the affiliate, such amounts are shown as a reduction in or addition to the amount due from affiliate in the accompany balance sheets.

5. INCOME TAXES

5. INCOME TAXES	9 Months Ended
	Sep. 30, 2018
Income Taxes
5. 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. The Internal Revenue Code allows net operating losses (NOL's) to carry forward and apply against future profits for a period of twenty years. The available NOL's totaled approximately $1.2 million at December 31, 2017. The NOL can be carried forward to offset taxable income, if any, in future years which expire in the years 2020 through 2037. In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Based on the assessment, management has established a full valuation allowance against all of the deferred tax asset relating to NOLs for every period because it is more likely than not that all of the deferred tax asset will not be realized. On December 22, 2017, legislation commonly known as the Tax Cuts and Jobs Act, or the Tax Act, was signed in to law. The Tax Act, among other changes, reduces the U.S. federal corporate tax rate from 35% to 21%, requires taxpayers to pay a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax deferred and creates new taxes on certain foreign sourced earnings. We did not have any foreign subsidiaries, and, as such, the international aspects of the Tax Act are not applicable. At December 31, 2017, in connection with the initial analysis of the impact of the Tax Act, we remeasured certain deferred tax assets and liabilities based on the rates at which they are expected to reverse in the future, which is generally 21%. As a result, we recorded a decrease in net deferred tax assets of approximately $160,000 with a corresponding net adjustment to deferred income tax expense. These adjustments were fully offset by a decrease in the valuation allowance. We have completed and recorded the adjustments necessary under Staff Accounting Bulletin No. 118 related to the Tax Act. Under the Tax Act, the NOL deduction for a tax year is equal to the lesser of (1) the aggregate of the NOL carryovers to such year, plus the NOL carry-backs to such year, or (2) 80% of taxable income (determined without regard to the deduction). Generally, NOLs can no longer be carried back but are allowed to be carried forward indefinitely. The amendments incorporating the 80% limitation apply to losses arising in tax years beginning The Company had approximately $60,000 NOL generated in the nine months ended September 30, 2018in the U.S., which can be used to offset 80 percent of future taxable income and can be carried forward indefinitely.

6. SUBSEQUENT EVENTS

6. SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2018
Subsequent Events [Abstract]
6. SUBSEQUENT EVENTS	The Company evaluated subsequent events, which are events or transactions that occurred after September 30, 2018 through the issuance of the accompanying financial statements and determined that no significant subsequent event need to be recognized or disclosed.

2. GOING CONCERN UNCERTAINTY (D

2. GOING CONCERN UNCERTAINTY (Details Narrative) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Going Concern Uncertainty
Working capital deficit	$ (541,729)
Accumulated deficit	$ (2,141,576)	$ (2,081,110)

4. RELATED PARTY TRANSACTIONS (

4. RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Interest expense	$ 3,521	$ 3,246	$ 10,228	$ 9,335
Shareholders And Officers
Due to related party	312,840		312,840		$ 292,475
Accrued interest	$ 74,349		$ 74,349		$ 64,120