Amanasu Techno (ANSU) 10-K 30 Mar 21 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2020	Mar. 25, 2021	Jun. 30, 2020
Cover [Abstract]
Entity Registrant Name	AMANASU TECHNO HOLDINGS CORP
Document Type	10-K
Document Period End Date	Dec. 31, 2020
Amendment Flag	false
Entity Central Index Key	0001168663
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Shell Company	false
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	NV
Entity File Number	001-31261
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Public Float			$ 127,052
Entity Common Stock, Shares Outstanding		46,956,300

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Current Assets:
Cash	$ 859	$ 8,215
Due from affiliate	11,338	0
Total current assets	12,197	8,215
Operating lease right-of-use assets	11,019	25,084
Total assets	23,216	33,299
Current Liabilities:
Accrued expenses - shareholders and officers	244,790	200,136
Accrued expenses - other	2,500	0
Operating lease liabilities - current	11,019	14,065
Due to affiliate	0	24,509
Deposit on stock purchase	61,030	61,030
Loans from stockholders and officers	432,350	370,835
Total current liabilities	751,689	670,575
Operating lease liabilities	0	11,019
Total liabilities	751,689	681,594
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	(2,328,320)	(2,248,142)
Total stockholders' deficit	(728,473)	(648,295)
Total liabilities and stockholders' deficit	$ 23,216	$ 33,299

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, authorized	100,000,000	100,000,000
Common stock, issued	46,956,300	46,956,300
Common stock, outstanding	46,956,300	46,956,300

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND DEFICIT - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
Revenue	$ 0	$ 0
Cost of goods sold	0	0
Gross profit	0	0
General and administrative expenses	61,906	66,293
Operating loss	(61,906)	(66,293)
Other Expense:
Interest expense - stockholders and officers	(18,272)	(15,283)
Loss before income taxes	(80,178)	(81,576)
Income taxes	0	0
Net loss	$ (80,178)	$ (81,576)
Loss per share - basic and diluted	$ 0	$ 0
Weighted average number of common shares outstanding	46,956,300	46,956,300

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT - USD ($)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Beginning balance, shares at Dec. 31, 2018	46,956,300
Beginning balance, amount at Dec. 31, 2018	$ 46,956	$ 1,552,891	$ (2,166,566)	$ (566,719)
Net loss			(81,576)	(81,576)
Ending balance, shares at Dec. 31, 2019	46,956,300
Ending balance, amount at Dec. 31, 2019	$ 46,956	1,552,891	(2,248,142)	(648,295)
Net loss			(80,178)	(80,178)
Ending balance, shares at Dec. 31, 2020	46,956,300
Ending balance, amount at Dec. 31, 2020	$ 46,956	$ 1,552,891	$ (2,328,320)	$ (728,473)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
CASH FLOWS FROM OPERATIONS
Net loss	$ (80,178)	$ (81,576)
Changes in assets and liabilities:
Increase in accrued expenses - other	2,500	0
Increase in accrued expenses - stockholders and officers	44,654	34,755
Net cash used in operating activities	(33,024)	(46,821)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from loans from stockholders and officers	61,515	57,205
(Decrease) increase in amounts due to affiliate	(35,847)	(3,713)
Net cash provided by financing activities	25,668	53,492
Net increase (decrease) in cash	(7,356)	6,671
Cash balance, beginning of period	8,215	1,544
Cash balance, end of period	859	8,215
Supplemental disclosures of cash flow information:
Cash paid for interest	0	0
Cash paid for taxes	$ 0	$ 0

1. Organization and Business

1. Organization and Business	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
1. Organization and Business	Organization of Company Amanasu Techno Holdings Corporation ("Company") was incorporated in the State of Nevada on December 1, 1997 under the name of Avani Manufacturing (China) Inc. The Company changed its name to Genesis Water Technology on August 17, 1999, and to Supreme Group International, Inc. on December 24, 2000. On June 7, 2001, it changed its name to Amanasu Technologies Corporation. It changed its name again on December 21, 2007 to Amanasu Techno Holdings Corporation. The Company is a development stage company, and has not conducted any operations or generated any revenue since its inception. On January 4, 2008, the Company invested $1,837 for a 100% interest in a newly formed subsidiary, Amanasu Techno Holdings Japan Corporation (Japan), which is located in Tokyo. This subsidiary is inactive since inception. Business The Company is in development stage and continues to investigate and develop technologies, which the Company believes have great market potential.

2. Going Concern

2. Going Concern	12 Months Ended
	Dec. 31, 2020
Going Concern
2. Going Concern	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 $739,492 and an accumulated deficit of $2,328,320 at December 31, 2020, 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 any adjustments that might result from the outcome of this uncertainty. 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. The Company will also continue to investigate and develop technologies, which the Company believes have great market potential. As such, the Company may need to pursue additional sources of financing or will have to rely on loans from stockholders and officers to support operations. There can be no assurances that the Company can secure additional financing. The Company’s operations may be affected by the recent and ongoing outbreak of the coronavirus disease 2019 (COVID-19) which in March 2020, was declared a pandemic by the World Health Organization. The ultimate disruption which may be caused by the outbreak is uncertain; however, it may result in a material adverse impact on the Company’s financial position, operations and cash flows. Possible areas that may be affected include, but are not limited to, disruption to the Company’s ability to obtain funding and performing further research on certain projects.

3. Summary of Significant Accou

3. Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
3. Summary of Significant Accounting Policies	Principles of Consolidation: The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States and include the Company and its wholly-owned subsidiary. All significant inter-company accounts and transactions have been eliminated. Use of Estimates: The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires that management make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Development Stage Company: The Company is considered to be in the development stage as defined in ASC 915 “ Development Stage Entities. Reclassification: Certain last year’s amounts were reclassified to conform with the current year presentation. Cash and Cash Equivalents: For purposes of the statements of cash flows, the Company considers all short-term debt securities purchased with an original maturity of three months or less to be cash equivalents. Fair Value of Financial Instruments: The Company has adopted the provisions of ASC Topic 820, Fair Value Measurements and Disclosures”, which defines the fair value as used in numerous pronouncements, establishes a framework for measuring fair value and expands disclosure of fair value measurements. ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value: Level 1 – quoted prices in active markets for identical assets or liabilities. Level 2 – quoted prices for similar assets and liabilities in active markets or inputs that are observable. Level 3 – inputs that are unobservable (for example cash flow modeling inputs based on assumptions). The estimated fair value of certain financial instruments, including cash, accrued expenses and loans from stockholder and officers are carried at historical cost basis, which approximates fair values because of the short-term maturing of these instruments. We have no financial assets or liabilities measured at fair value on a recurring basis. Income Taxes: The Company accounts for income taxes under the provisions of FASB ASC Topic 740, “Income Tax,” which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements or tax returns. Deferred tax assets and liabilities are recognized for the future tax consequence attributable to the difference between the tax bases of assets and liabilities and their reported amounts in the financial statements. Deferred tax assets and liabilities are measured using the enacted tax rate expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company establishes a valuation when it is more likely than not that the assets will not be recovered. ASC Topic 740.10.30 clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. ASC Topic 740.10.40 provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. We have no material uncertain tax positions for any of the reporting periods presented. New Accounting Pronouncements: In December 2019, the FASB issued ASU No. 2019-12, Income Taxes - simplifying the accounting for income taxes (Topic 740), which is meant to simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740, Income Taxes. The amendment also improves consistent application and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. This ASU is effective January 1, 2021, and we do not expect the adoption of this standard to have a significant impact on our financial position and results of operations. No other 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	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
4. Related Party Transactions	The Company receives periodic loans from its principal stockholders and officers based upon the Company’s cash flow needs. There is no written loan agreement between the Company and stockholders and officers. All loans bear interest at 4.45% and due on demand. No terms for repayment have been established. As a result, the amount is classified as a current liability. During the years ended December 31, 2020 and 2019, the Company borrowed $61,515 and $57,205, respectively, from a stockholder. The balances due as of December 31, 2020 and 2019 were $432,350 and $370,835, respectively. Interest expense associated with these loans were $18,272 and $15,283 for the years ended December 31, 2020 and 2019, respectively. Accrued interest on these loans were $111,468 and $93,196 at December 31, 2020 and 2019, respectively. The Company has an arrangement with a stockholder of the Company to perform consulting service. The agreement is not written and no payment terms have been established. The fee is $10,000 annually. As of December 31,2020 and 2019, amounts due to the stockholder were $60,000 and $50,000, respectively. The Company leases it office in Vancouver Canada from a stockholder of the Company at a monthly rate $2,500 under a lease agreement that expires October 1, 2021. At December 31, 2020 and 2019, amounts due to the stockholder were $71,422 and $46,943 including rent and other expenses, respectively. The Company shares the space with Amanasu Environmental Corporation, a reporting company under the Securities Exchange Act of 1934. Amanasu Environmental Corporation is responsible for 50% of the rent. The office in New York is rented at the rate of approximately $360 each year and is also shared with Amanasu Environmental Corporation. In addition, the Company maintains an office at Suite 905, 1-6-1 Senzoku Taito-Ku Tokyo Japan.

5. Income Taxes

5. Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
5. Income Taxes	In accordance with the current tax law in the U.S., the Company is subject to a corporate tax rate of 21% on its taxable income. No provision for taxes is made for U.S. income tax for the years ended December 31, 2020 and 2019 as it had no taxable income. 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 (“NOL”) carryforwards. The Company had NOL carryforwards of approximately $1.53 million at December 31, 2020. Approximately $1.28 million will expire in the years 2021 through 2037, and $0.25 million can be carried forward indefinitely. The tax return for the years 2017, 2018 and 2019 are subject to audit by the Internal Revenue Service. The reconciliation of income tax expense at the U.S. statutory rate of 21% to the Company’s effective tax rate is as follows: 2020 2019 Income tax expense at statutory rate 21 % 21 % Change in valuation allowance (21 %) (21 %) Income tax expense - - The tax effects of temporary differences that give rise to the Company’s net deferred tax assets as of December 31, 2020 and 2019 are as follows: 2020 2019 Net Operating Loss Carryforwards $ 321,913 $ 305,237 Valuation Allowance (321,913 ) (305,237 ) Deferred Tax Asset $ - $ -

6. Operating Lease Liability

6. Operating Lease Liability	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
6. Operating Lease Liability	The Company's executive offices are located at 244 Fifth Avenue 2nd Floor New York, NY 10001 and Vancouver, British Columbia. The total premises in Vancouver are 2,000 square feet and are leased at a monthly rate of $2,500 under a lease agreement between the Company and the Secretary of the Company’s board of directors and the stockholder of the Company which expires October 1, 2021. The Company shares the space with AEC, a reporting company under the Securities Exchange Act of 1934. Our major shareholder and officer own approximately 81% of AEC’s outstanding shares of common stock. AEC is responsible for 50% of the rent or $1,250 each month. The Company's lease does not provide an implicit rate, and therefore the Company uses an estimated incremental borrowing rate as the discount rate when measuring operating lease liabilities. The incremental borrowing rate represents an estimate of the interest rate the Company would incur at lease commencement to borrow an amount equal to the lease payments on a collateralized basis over the term of a lease. The Company used incremental borrowing rate of 5% for the calculation of operating lease liabilities. Upon adoption of ASC 842, Leases, on January 1, 2019 the Company recorded $10,353 of right-of-use assets and related operating leases liabilities. This asset was fully amortized as of September 30, 2019. On October 1, 2019, the Company commenced a new lease with the same stockholder from October 1, 2019 to September 30, 2021 with a monthly payment of approximately $1,250. As such, the Company recorded $28,492 of right-of-use assets and related operating leases liabilities. For the year ended December 31, 2020, the Company amortized $14,065 of right-of-use assets. The following table reconciles the undiscounted future minimum lease under the non-cancelable operating leases with terms of more than one year to the total lease liabilities recognized on the consolidated balance sheet as of December 31, 2020: 2021 $ 11,250 Total undiscounted future minimum lease payments 11,250 Less: Difference between undiscounted lease payments and discounted lease liabilities (231 ) Total operating lease liabilities 11,019 Less current portion (11,019 ) Long-term lease liabilities $ -0- Total rent expense under operating leases for the year ended December 31, 2020 was $15,930 as compared to $15,948 for the year ended December 31, 2019.

7. Deposit on Stock Purchase

7. Deposit on Stock Purchase	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
7. Deposit on Stock Purchase	During 2015, the Company received $61,030 for a deposit for the purchase of common stock, this amount is classified as a current liability in the accompanying balance sheets as of December 31, 2020 and 2019. No shares have been issued for these deposits as of December 31, 2019.

8. Subsequent Event

8. Subsequent Event	12 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
8. Subsequent Event	The Company evaluated subsequent events, which are events or transactions that occurred after December 31, 2020 through the issuance of the accompanying financial statements and determined that no significant subsequent event need be recognized or disclosed.

3. Summary of Significant Acc_2

3. Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Principles of Consolidation	The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States and include the Company and its wholly-owned subsidiary. All significant inter-company accounts and transactions have been eliminated.
Use of Estimates	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires that management make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Development Stage Company	The Company is considered to be in the development stage as defined in ASC 915 “ Development Stage Entities.
Reclassification	Certain last year’s amounts were reclassified to conform with the current year presentation.
Cash and Cash Equivalents	For purposes of the statements of cash flows, the Company considers all short-term debt securities purchased with an original maturity of three months or less to be cash equivalents.
Fair Value of Financial Instruments	The Company has adopted the provisions of ASC Topic 820, Fair Value Measurements and Disclosures”, which defines the fair value as used in numerous pronouncements, establishes a framework for measuring fair value and expands disclosure of fair value measurements. ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value: Level 1 – quoted prices in active markets for identical assets or liabilities. Level 2 – quoted prices for similar assets and liabilities in active markets or inputs that are observable. Level 3 – inputs that are unobservable (for example cash flow modeling inputs based on assumptions). The estimated fair value of certain financial instruments, including cash, accrued expenses and loans from stockholder and officers are carried at historical cost basis, which approximates fair values because of the short-term maturing of these instruments. We have no financial assets or liabilities measured at fair value on a recurring basis.
Income Taxes	The Company accounts for income taxes under the provisions of FASB ASC Topic 740, “Income Tax,” which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements or tax returns. Deferred tax assets and liabilities are recognized for the future tax consequence attributable to the difference between the tax bases of assets and liabilities and their reported amounts in the financial statements. Deferred tax assets and liabilities are measured using the enacted tax rate expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company establishes a valuation when it is more likely than not that the assets will not be recovered. ASC Topic 740.10.30 clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. ASC Topic 740.10.40 provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. We have no material uncertain tax positions for any of the reporting periods presented.
Recently Adopted Accounting Pronouncements	In December 2019, the FASB issued ASU No. 2019-12, Income Taxes - simplifying the accounting for income taxes (Topic 740), which is meant to simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740, Income Taxes. The amendment also improves consistent application and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. This ASU is effective January 1, 2021, and we do not expect the adoption of this standard to have a significant impact on our financial position and results of operations. No other recently issued accounting pronouncements had or are expected to have a material impact on the Company’s consolidated financial statements.

5. Income Taxes (Tables)

5. Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income tax reconciliation	2020 2019 Income tax expense at statutory rate 21 % 21 % Change in valuation allowance (21 %) (21 %) Income tax expense - -
Deferred tax assets	2020 2019 Net Operating Loss Carryforwards $ 321,913 $ 305,237 Valuation Allowance (321,913 ) (305,237 ) Deferred Tax Asset $ - $ -

6. Operating Lease Liability (T

6. Operating Lease Liability (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Future minimum lease payments	2021 $ 11,250 Total undiscounted future minimum lease payments 11,250 Less: Difference between undiscounted lease payments and discounted lease liabilities (231 ) Total operating lease liabilities 11,019 Less current portion (11,019 ) Long-term lease liabilities $ -0-

2. Going Concern (Details Narra

2. Going Concern (Details Narrative) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Going Concern
Working capital deficiency	$ (739,492)
Accumulated deficit	$ (2,328,320)	$ (2,248,142)

4. Related Party Transactions (

4. Related Party Transactions (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Advances from shareholders and officers	$ 432,350	$ 370,835
Interest expense	18,272	15,283
Accrued interest owed to related party	111,468	93,196
Due to related party	60,000	50,000
Due to related party - leases	71,422	46,943
Stockholder
Advances from shareholders and officers	$ 61,515	$ 57,205

5. Income Taxes (Details)

5. Income Taxes (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income tax expense at statutory rate	21.00%	21.00%
Change in valuation allowance	(21.00%)	(21.00%)
Income tax expense	0.00%	0.00%

5. Income Taxes (Details 1)

5. Income Taxes (Details 1) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Net operating loss carryforwards	$ 321,913	$ 305,237
Valuation allowance	(321,913)	(305,237)
Deferred tax asset	$ 0	$ 0

5. Income Taxes (Details Narrat

5. Income Taxes (Details Narrative)	Dec. 31, 2020USD ($)
Income Tax Disclosure [Abstract]
Net operating loss carry forward	$ 1,530,000

6. Operating Lease Liability (D

6. Operating Lease Liability (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
2021	$ 11,250
Total undiscounted future minimum lease payments	11,250
Less: difference between undiscounted lease payments and discounted lease liabilities	(231)
Total operating lease liabilities	11,019
Less current portion	(11,019)	$ (14,065)
Long-term lease liabilities	$ 0	$ 11,019

6. Operating Lease Liability _2

6. Operating Lease Liability (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Rent expense	$ 15,930	$ 15,948