Cover
Cover - shares | 9 Months Ended | |
Dec. 31, 2022 | Feb. 14, 2023 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Dec. 31, 2022 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2023 | |
Current Fiscal Year End Date | --03-31 | |
Entity File Number | 000-56322 | |
Entity Registrant Name | DH ENCHANTMENT, INC. | |
Entity Central Index Key | 0001300781 | |
Entity Tax Identification Number | 20-1415044 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | Unit A, 13/F | |
Entity Address, Address Line Two | Gee Luen Factory Building 5 | |
Entity Address, Address Line Three | 316-318 Kwun Tong Road | |
Entity Address, City or Town | Kowloon | |
Entity Address, Country | HK | |
Entity Address, Postal Zip Code | 00000 | |
City Area Code | 852 | |
Local Phone Number | 2621 3288 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 831,310,013 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) | Dec. 31, 2022 | Mar. 31, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 35,951 | $ 111,396 |
Account receivable | 81 | 5,618 |
Prepayments and other receivables | 0 | 4,419 |
Total current assets | 36,032 | 121,433 |
TOTAL ASSETS | 36,032 | 121,433 |
Current liabilities: | ||
Accrued liabilities and other payables | 279,510 | 54,779 |
Accrued marketing fee | 226,366 | 226,366 |
Amount due to a director | 78,862 | 64,365 |
Note payable, related party | 133,557 | 133,557 |
Promissory notes, related parties | 84,645 | 0 |
Total current liabilities | 802,940 | 479,067 |
Long-term liabilities | ||
Promissory notes, related parties | 0 | 76,584 |
Total long-term liabilities | 0 | 76,584 |
TOTAL LIABILITIES | 802,940 | 555,651 |
Commitments and contingencies | ||
STOCKHOLDERS’ DEFICIT | ||
Common stock, $0.001 par value; 4,400,000,000 shares authorized; 831,310,013 shares issued and outstanding as of December 31, 2022 and March 31, 2022, respectively | 831,310 | 831,310 |
Accumulated other comprehensive (loss) income | (2,567) | 64 |
Accumulated deficit | (1,601,991) | (1,271,932) |
Stockholders’ deficit | (766,908) | (434,218) |
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT | 36,032 | 121,433 |
Convertible Preferred Stock [Member] | ||
STOCKHOLDERS’ DEFICIT | ||
Preferred Stock, Value, Issued | 0 | 0 |
Series A Preferred Stock [Member] | ||
STOCKHOLDERS’ DEFICIT | ||
Preferred Stock, Value, Issued | 6,240 | 6,240 |
Series B Preferred Stock [Member] | ||
STOCKHOLDERS’ DEFICIT | ||
Preferred Stock, Value, Issued | $ 100 | $ 100 |
CONDENSED CONSOLIDATED BALANC_2
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares | Dec. 31, 2022 | Mar. 31, 2022 |
Common stock value per share | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 4,400,000,000 | 4,400,000,000 |
Common Stock, Shares, Issued | 831,310,013 | 831,310,013 |
Common Stock, Shares, Outstanding | 831,310,013 | 831,310,013 |
Convertible Preferred Stock [Member] | ||
Preferred stock, Shares Authorized | 50,000,000 | 50,000,000 |
Preferred stock shares, Undesignated | 35,000,000 | 35,000,000 |
Preferred stock value per share | $ 0.002 | $ 0.002 |
Series A Preferred Stock [Member] | ||
Preferred stock value per share | $ 0.002 | $ 0.002 |
Preferred stock shares, Designated | 5,000,000 | 5,000,000 |
Preferred stock shares issued | 3,120,001 | 3,120,001 |
Preferred stock shares Outstanding | 3,120,001 | 3,120,001 |
Series B Preferred Stock [Member] | ||
Preferred stock value per share | $ 0.001 | $ 0.001 |
Preferred stock shares, Designated | 10,000,000 | 10,000,000 |
Preferred stock shares issued | 100,000 | 100,000 |
Preferred stock shares Outstanding | 100,000 | 100,000 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Income Statement [Abstract] | ||||
Revenue, net | $ 7,325 | $ 30,777 | $ 13,906 | $ 176,662 |
Cost of revenue | (6,114) | (9,860) | (8,349) | (170,797) |
Gross profit | 1,211 | 20,917 | 5,557 | 5,865 |
Operating expenses: | ||||
Sales and marketing expenses | 0 | 0 | (226,366) | 0 |
General and administrative expenses | (13,043) | (801) | (17,141) | (42,971) |
Professional fee | (38,721) | (15,219) | (93,987) | (216,107) |
Total operating expenses | (51,764) | (16,020) | (337,494) | (259,078) |
(LOSS) INCOME FROM OPERATIONS | (50,553) | 4,897 | (331,937) | (253,213) |
Other income (expense) | ||||
Foreign exchange gain | 0 | 46 | 0 | 91 |
Interest income | 1 | 1 | 1 | 1 |
Sundry income | (3,735) | 0 | 8,932 | 0 |
Interest expenses, related parties | (2,746) | (961) | (7,055) | (3,597) |
Total (expense) income, net | (6,480) | (914) | 1,878 | (3,505) |
(LOSS) INCOME BEFORE INCOME TAXES | (57,033) | 3,983 | (330,059) | (256,718) |
Income tax expense | 0 | 0 | 0 | 0 |
NET (LOSS) INCOME | (57,033) | 3,983 | (330,059) | (256,718) |
Other comprehensive (loss) income: | ||||
– Foreign currency adjustment (loss) gain | (861) | (11) | (2,631) | 250 |
COMPREHENSIVE (LOSS) INCOME | $ (57,894) | $ 3,972 | $ (332,690) | $ (256,468) |
Net (loss) income per share # | ||||
– Basic | $ 0 | $ 0 | $ 0 | $ 0 |
– Diluted | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted average common shares outstanding | ||||
– Basic | 831,310,013 | 831,310,013 | 831,310,013 | 725,418,679 |
– Diluted | 831,310,013 | 831,310,013 | 831,310,013 | 725,418,679 |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 9 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Cash flows from operating activities: | ||
Net loss | $ (330,059) | $ (256,718) |
Change in operating assets and liabilities: | ||
Accounts receivable | 5,537 | 812 |
Prepayments and other receivables | 4,419 | 0 |
Accrued liabilities and other payables | 224,731 | 15,056 |
Net cash used in operating activities | (95,372) | (240,850) |
Cash flows from financing activities: | ||
Advance from (repayment to) a director | 14,497 | (3,084) |
Advance from a shareholder | 0 | 133,557 |
Repayment to promissory notes, related party | (49,753) | 0 |
Proceeds from promissory notes, related parties | 57,407 | 77,052 |
Net cash provided by financing activities | 22,151 | 207,525 |
Foreign currency translation adjustment | (2,224) | 144 |
Net change in cash and cash equivalents | (75,445) | (33,181) |
BEGINNING OF PERIOD | 111,396 | 72,768 |
END OF PERIOD | 35,951 | 39,587 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||
Cash paid for income taxes | 0 | 0 |
Cash paid for interest | $ 0 | $ 0 |
CONDENSED CONSOLIDATED STATEM_3
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT) (Unaudited) - USD ($) | Series A Preferred Stocks [Member] | Series B Preferred Stocks [Member] | Common Stock [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Mar. 31, 2021 | $ 7,840 | $ 100 | $ 511,309 | $ (10) | $ (510,549) | $ 8,690 |
Beginning balance, shares at Mar. 31, 2021 | 3,920,001 | 100,000 | 511,309,161 | |||
Foreign currency translation adjustment | 7 | 7 | ||||
Net loss for the period | (90,708) | (90,708) | ||||
Ending balance, value at Jun. 30, 2021 | $ 7,840 | $ 100 | $ 511,309 | (3) | (601,257) | (82,011) |
Ending balance, shares at Jun. 30, 2021 | 3,920,001 | 100,000 | 511,309,161 | |||
Conversion of preferred stock | $ (1,600) | $ 320,000 | (318,400) | |||
Conversion of preferred stock, shares | (800,000) | 320,000,000 | ||||
Fractional shares from reverse split | $ 1 | (1) | ||||
Fractional shares from reverse split, shares | 852 | |||||
Foreign currency translation adjustment | 254 | 254 | ||||
Net loss for the period | (169,993) | (169,993) | ||||
Ending balance, value at Sep. 30, 2021 | $ 6,240 | $ 100 | $ 831,310 | 251 | (1,089,651) | (251,750) |
Ending balance, shares at Sep. 30, 2021 | 3,120,001 | 100,000 | 831,310,013 | |||
Foreign currency translation adjustment | (11) | (11) | ||||
Net loss for the period | 3,983 | 3,983 | ||||
Ending balance, value at Dec. 31, 2021 | $ 6,240 | $ 100 | $ 831,310 | 240 | (1,085,668) | (247,778) |
Ending balance, shares at Dec. 31, 2021 | 3,120,001 | 100,000 | 831,310,013 | |||
Beginning balance, value at Mar. 31, 2022 | $ 6,240 | $ 100 | $ 831,310 | 64 | (1,271,932) | (434,218) |
Beginning balance, shares at Mar. 31, 2022 | 3,120,001 | 100,000 | 831,310,013 | |||
Foreign currency translation adjustment | (58) | (58) | ||||
Net loss for the period | (264,983) | (264,983) | ||||
Ending balance, value at Jun. 30, 2022 | $ 6,240 | $ 100 | $ 831,310 | 6 | (1,536,915) | (699,259) |
Ending balance, shares at Jun. 30, 2022 | 3,120,001 | 100,000 | 831,310,013 | |||
Foreign currency translation adjustment | (1,712) | (1,712) | ||||
Net loss for the period | (8,043) | (8,043) | ||||
Ending balance, value at Sep. 30, 2022 | $ 6,240 | $ 100 | $ 831,310 | (1,706) | (1,544,958) | (709,014) |
Ending balance, shares at Sep. 30, 2022 | 3,120,001 | 100,000 | 831,310,013 | |||
Foreign currency translation adjustment | (861) | (861) | ||||
Net loss for the period | (57,033) | (57,033) | ||||
Ending balance, value at Dec. 31, 2022 | $ 6,240 | $ 100 | $ 831,310 | $ (2,567) | $ (1,601,991) | $ (766,908) |
Ending balance, shares at Dec. 31, 2022 | 3,120,001 | 100,000 | 831,310,013 |
DESCRIPTION OF BUSINESS AND ORG
DESCRIPTION OF BUSINESS AND ORGANIZATION | 9 Months Ended |
Dec. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
DESCRIPTION OF BUSINESS AND ORGANIZATION | 1. DESCRIPTION OF BUSINESS AND ORGANIZATION DH Enchantment, Inc. (the “Company” or “ENMI”) was incorporated in the State of Nevada on July 9, 2004 under the name AmeriVestors, Inc. On March 3, 2009, the Company changed its name to Gust Engineering & Speed Productions, Inc. and on February 1, 2011, the Company changed its name to Energy Management International, Inc. On August 11, 2021, we changed our name to DH Enchantment, Inc., our current name. Currently, the Company through its subsidiaries, mainly the sells and distributes COVID-19 rapid antigen tester set. Description of subsidiaries Schedule of description of subsidiaries Name Place of incorporation and kind of legal entity Principal activities and place of operation Particulars of registered/ paid up share capital Effective interest held DH Investment Group Limited (“DHIG”) British Virgin Islands Investment holding 100 ordinary shares at par value of US$1 100 Ho Shun Yi Limited (“HSY”) Hong Kong Sale and distribution of COVID-19 rapid antigen tester set 10,000 ordinary shares for HK$10,000 100 The Company and its subsidiaries are hereinafter referred to as (the “Company”). |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accompanying unaudited condensed consolidated financial statements reflect the application of certain significant accounting policies as described in this note and elsewhere in the accompanying unaudited condensed consolidated financial statements and notes. • Basis of presentation These accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”). • Use of estimates and assumptions In preparing these unaudited condensed consolidated financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities in the balance sheet and revenues and expenses during the periods reported. Actual results may differ from these estimates. • Basis of consolidation The unaudited condensed consolidated financial statements include the accounts of ENMI and its subsidiaries. All significant inter-company balances and transactions within the Company have been eliminated upon consolidation. • Cash and cash equivalents Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments. • Revenue recognition ASC 606, Revenue from Contracts with Customers The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements: • identify the contract with a customer; • identify the performance obligations in the contract; • determine the transaction price; • allocate the transaction price to performance obligations in the contract; and • recognize revenue as the performance obligation is satisfied. The Company derives its revenue from the sale of the rapid tester kits. The Company sells its products directly to healthcare providers, retailers and individual consumers through its retail channels. The Company considers customer order confirmations to be a contract with the customer. Customer confirmations are executed at the time an order is placed. Revenue is recognized when control of the product is transferred to the customer (i.e., when the Company’s performance obligation is satisfied), which typically occurs at shipment date. As a result, the Company has a present and unconditional right to payment and record the amount due from the customer in accounts receivable. For each contract, the Company considers the promise to transfer products to be the only identified performance obligation. In determining the transaction price, the Company evaluates whether the price is subject to refund or adjustment to determine the net consideration to which the Company expects to be entitled. The Company’s revenues for the three and nine months ended December 31, 2022 and 2021 are recognized at a point in time. • Cost of revenue Cost of revenue consists primarily of the cost of goods sold, which are directly attributable to the sales of products. • Income taxes The Company adopted the ASC 740 Income tax The estimated future tax effects of temporary differences between the tax basis of assets and liabilities are reported in the accompanying balance sheets, as well as tax credit carry-backs and carry-forwards. The Company periodically reviews the recoverability of deferred tax assets recorded on its balance sheets and provides valuation allowances as management deems necessary. • Uncertain tax positions The Company did no • Foreign currencies translation Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the unaudited condensed consolidated statement of operations. The reporting currency of the Company is United States Dollar ("US$") and the accompanying unaudited condensed consolidated financial statements have been expressed in US$. In addition, the Company is operating in Hong Kong and maintain its books and record in its local currency, Hong Kong Dollars (“HKD”), which is a functional currency as being the primary currency of the economic environment in which their operations are conducted. In general, for consolidation purposes, assets and liabilities of its subsidiary whose functional currency is not US$ are translated into US$, in accordance with ASC 830-30, “ Translation of Financial Statement Translation of amounts from HKD into US$ has been made at the following exchange rates for the nine months ended December 31, 2022 and 2021: Schedule of translation rates December 31, 2022 December 31, 2021 Period-end HKD:US$ exchange rate 0.1282 0.1282 Period average HKD:US$ exchange rate 0.1276 0.1286 • Comprehensive income ASC Topic 220, Comprehensive Income • Net loss per share The Company calculates net loss per share in accordance with ASC 260, Earnings per Share • Stock based compensation Pursuant to ASU 2018-07, the Company follows ASC 718, Compensation—Stock Compensation • Related parties The Company follows the ASC 850-10, Related Party Pursuant to section 850-10-20 the related parties include a) affiliates of the Company; b) entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of section 825–10–15, to be accounted for by the equity method by the investing entity; c) trusts for the benefit of employees, such as pension and Income-sharing trusts that are managed by or under the trusteeship of management; d) principal owners of the Company; e) management of the Company; f) other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and g) other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests. The unaudited condensed consolidated financial statements shall include disclosures of material related party transactions, other than compensation arrangements, expense allowances, and other similar items in the ordinary course of business. However, disclosure of transactions that are eliminated in the preparation of consolidated or combined financial statements is not required in those statements. The disclosures shall include: a) the nature of the relationship(s) involved; b) a description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods for which income statements are presented, and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements; c) the dollar amounts of transactions for each of the periods for which income statements are presented and the effects of any change in the method of establishing the terms from that used in the preceding period; and d) amount due from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement. • Commitments and contingencies The Company follows the ASC 450-20, Commitments If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s unaudited condensed consolidated financial statements. If the assessment indicates that a potentially material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. Management does not believe, based upon information available at this time that these matters will have a material adverse effect on the Company’s financial position, results of operations or cash flows. However, there is no assurance that such matters will not materially and adversely affect the Company’s business, financial position, and results of operations or cash flows. • Fair value of financial instruments The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and has adopted paragraph 820-10-35-37 of the FASB Accounting Standards Codification (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 of the FASB Accounting Standards Codification establishes a framework for measuring fair value in generally accepted accounting principles (GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, paragraph 820-10-35-37 of the FASB Accounting Standards Codification establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three (3) levels of fair value hierarchy defined by paragraph 820-10-35-37 of the FASB Accounting Standards Codification are described below: Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3 Pricing inputs that are generally observable inputs and not corroborated by market data. Financial assets are considered Level 3 when their fair values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. If the inputs used to measure the financial assets and liabilities fall within more than one level described above, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument. The carrying amounts of the Company’s financial assets and liabilities, such as cash and cash equivalents, approximate their fair values because of the short maturity of these instruments. • Recent accounting pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standard Board (“FASB”) or other standard setting bodies and adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on its financial position or results of operations upon adoption. The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and do not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations. |
GOING CONCERN UNCERTAINTIES
GOING CONCERN UNCERTAINTIES | 9 Months Ended |
Dec. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN UNCERTAINTIES | 3. GOING CONCERN UNCERTAINTIES The accompanying unaudited condensed consolidated financial statements have been prepared using going concern basis of accounting, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. For the nine months ended December 31, 2022, the Company incurred a net loss of $ 330,059 766,908 These and other factors raise substantial doubt about the Company’s ability to continue as a going concern. These unaudited condensed consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets and liabilities that may result in the Company not being able to continue as a going concern. |
ACCRUED MARKETING FEE
ACCRUED MARKETING FEE | 9 Months Ended |
Dec. 31, 2022 | |
Accrued Marketing Fee | |
ACCRUED MARKETING FEE | 4. ACCRUED MARKETING FEE On January 3, 2022, the Company entered into marketing consulting agreements with two consultants for expanding sale channels and developing marketing strategies, analyzing and evaluating consumer data services for a term of six months. The Company agreed to grant the consultants an aggregate 19,684,019 452,732 0.023 226,366 0 |
AMOUNTS DUE TO A DIRECTOR
AMOUNTS DUE TO A DIRECTOR | 9 Months Ended |
Dec. 31, 2022 | |
Amounts Due To Director | |
AMOUNTS DUE TO A DIRECTOR | 5. AMOUNTS DUE TO A DIRECTOR As of December 31, 2022, the amount due to a director represented temporary advances made by the Company’s director, Ms LO Kin Yi Sally, which was unsecured, interest-free and repayable on demand. Imputed interest on this amount is considered insignificant. |
NOTE PAYABLE, RELATED PARTY
NOTE PAYABLE, RELATED PARTY | 9 Months Ended |
Dec. 31, 2022 | |
Note Payable Related Party | |
NOTE PAYABLE, RELATED PARTY | 6. NOTE PAYABLE, RELATED PARTY The Company had a loan agreement (the “Agreement”) with Daily Success Development Limited, the Company’s shareholder. Pursuant to the Agreement, the shareholder loaned the Company a principal amount of $ 133,557 5 |
PROMISSORY NOTES, RELATED PARTI
PROMISSORY NOTES, RELATED PARTIES | 9 Months Ended |
Dec. 31, 2022 | |
Debt Disclosure [Abstract] | |
PROMISSORY NOTES, RELATED PARTIES | 7. PROMISSORY NOTES, RELATED PARTIES The Company had promissory notes ( the “Notes”) with Miss Sally Kin Yi LO, the Company’s director. Pursuant to the Notes, the noteholder loaned the Company an aggregate principal amount of $ 84,645 5 26,933 57,712 |
STOCKHOLDERS_ EQUITY (DEFICIT)
STOCKHOLDERS’ EQUITY (DEFICIT) | 9 Months Ended |
Dec. 31, 2022 | |
Equity [Abstract] | |
STOCKHOLDERS’ EQUITY (DEFICIT) | 8. STOCKHOLDERS’ EQUITY (DEFICIT) Authorized shares As of December 31, 2022 and March 31, 2022, the Company’s authorized shares were 50,000,000 0.002 As of December 31, 2022 and March 31, 2022, the Company’s authorized shares were 4,400,000,000 0.001 Issued and outstanding shares As of December 31, 2022 and March 31, 2022, the Company had 3,120,001 As of December 31, 2022 and March 31, 2022, the Company had 100,000 As of December 31, 2022 and March 31, 2022, the Company had 831,310,013 |
INCOME TAX
INCOME TAX | 9 Months Ended |
Dec. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
INCOME TAX | 9. INCOME TAX The provision for income taxes consisted of the following: Schedule of provision for income taxes Nine months ended December 31, 2022 2021 Current tax $ – $ – Deferred tax – – Income tax expense $ – $ – The effective tax rate in the periods presented is the result of the mix of income earned in various tax jurisdictions that apply a broad range of income tax rates as below. The Company, however, mainly operates in Hong Kong. United States of America DH Enchantment, Inc. is registered in the State of Nevada and is subject to the tax laws of United States of America. The U.S. Tax Cuts and Jobs Act (the “Tax Reform Act”) was signed into law. The Tax Reform Act significantly revised the U.S. corporate income tax regime by, among other things, lowering the U.S. corporate tax rate from 35% to 21% effective January 1, 2018. The Company’s policy is to recognize accrued interest and penalties related to unrecognized tax benefits in its income tax provision. The Company has not accrued or paid interest or penalties which were not material to its results of operations for the periods presented. At December 31, 2022, the Company has U.S. federal operating loss carryforwards of $ 624,244 For the nine months ended December 31, 2022 and 2021, there were no BVI DHIG is considered to be an exempted British Virgin Islands company and is presently not subject to income taxes or income tax filing requirements in the British Virgin Islands or the United States. The Company’s tax provision is $ 0 Hong Kong HSY operating in Hong Kong is subject to the Hong Kong Profits Tax at the two-tiered profits tax rates from 8.25% to 16.5% on the estimated assessable profits arising in Hong Kong during the current period, after deducting a tax concession for the tax year. The reconciliation of income tax rate to the effective income tax rate for the nine months ended December 31, 2022 and 2021 is as follows: Schedule of reconciliation of income tax rate Nine months ended December 31, 2022 2021 Loss before income taxes $ (32,138 ) $ (191,397 ) Statutory income tax rate 16.5 16.5 Income tax expense at statutory rate (5,303 ) (31,581 ) Tax effect of non-deductible items 514 – Net operating loss 4,789 31,581 Income tax expense $ – $ – As of December 31, 2022, the operations in Hong Kong incurred $ 131,541 21,704 The following table sets forth the significant components of the deferred tax assets of the Company as of December 31, 2022 and March 31, 2022: Schedule of deferred tax assets and liabilities December 31, 2022 March 31, 2022 Deferred tax assets: Net operating loss carryforwards - United States $ 131,091 $ 69,550 - Hong Kong 21,704 16,916 Total 152,795 86,466 Less: valuation allowance (152,795 ) (86,466 ) Deferred tax assets, net $ – $ – |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 9 Months Ended |
Dec. 31, 2022 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | 10. RELATED PARTY TRANSACTIONS During the nine months ended December 31, 2022, the Company accrued interest expense of $ 3,988 133,557 During the nine months ended December 31, 2022, the Company accrued interest expense of $ 3,067 84,645 Also, the Company was provided with an office space by its director at no cost. The management determined that such cost is nominal and did not recognize the rent expense in its unaudited condensed consolidated financial statements. Apart from the transactions and balances detailed elsewhere in these accompanying unaudited condensed consolidated financial statements, the Company has no other significant or material related party transactions during the periods presented. |
CONCENTRATIONS OF RISK
CONCENTRATIONS OF RISK | 9 Months Ended |
Dec. 31, 2022 | |
Risks and Uncertainties [Abstract] | |
CONCENTRATIONS OF RISK | 11. CONCENTRATIONS OF RISK The Company is exposed to the following concentrations of risk: (a) Major customers For the three months ended December 31, 2022, three customers exceeding 10% of the Company’s revenue. These customers accounted for 72 5,256 no For the three months ended December 31, 2021, three customers exceeding 10% of the Company’s revenue. These customers accounted for 55 17,078 780 For the nine months ended December 31, 2022, four customers exceeding 10% of the Company’s revenue. These customers accounted for 65 9,086 no For the nine months ended December 31, 2021, three customers exceeding 10% of the Company’s revenue. These customers accounted for 67 118,557 780 All of the Company’s customers are located in Hong Kong. (b) Major vendors For the three months ended December 31, 2022, one vender represented more than 10% of the Company’s operating cost. These vendors accounted for 100 6,111 no For the three months ended December 31, 2021, one vender represented more than 10% of the Company’s operating cost. This vendor accounted for 100 22,424 2,008 For the nine months ended December 31, 2022, two venders represented more than 10% of the Company’s operating cost. These vendors accounted for 100 8,349 no For the nine months ended December 31, 2021, one vender represented more than 10% of the Company’s operating cost. This vendor accounted for 100 145,148 2,008 The Company’s vendor is located in Hong Kong. (c) Economic and political risk The Company’s major operations are conducted in Hong Kong. Accordingly, the political, economic, and legal environments in Hong Kong, as well as the general state of Hong Kong’s economy may influence the Company’s business, financial condition, and results of operations. (d) Exchange rate risk The Company cannot guarantee that the current exchange rate will remain steady; therefore there is a possibility that the Company could post the same amount of profit for two comparable periods and because of the fluctuating exchange rate actually post higher or lower profit depending on exchange rate of HKD converted to US$ on that date. The exchange rate could fluctuate depending on changes in political and economic environments without notice. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 9 Months Ended |
Dec. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | 12. COMMITMENTS AND CONTINGENCIES As of December 31, 2022, the Company has no material commitments or contingencies. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Dec. 31, 2022 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | 13. SUBSEQUENT EVENTS In accordance with ASC Topic 855, “ Subsequent Events |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Basis of presentation | • Basis of presentation These accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”). |
Use of estimates and assumptions | • Use of estimates and assumptions In preparing these unaudited condensed consolidated financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities in the balance sheet and revenues and expenses during the periods reported. Actual results may differ from these estimates. |
Basis of consolidation | • Basis of consolidation The unaudited condensed consolidated financial statements include the accounts of ENMI and its subsidiaries. All significant inter-company balances and transactions within the Company have been eliminated upon consolidation. |
Cash and cash equivalents | • Cash and cash equivalents Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments. |
Revenue recognition | • Revenue recognition ASC 606, Revenue from Contracts with Customers The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements: • identify the contract with a customer; • identify the performance obligations in the contract; • determine the transaction price; • allocate the transaction price to performance obligations in the contract; and • recognize revenue as the performance obligation is satisfied. The Company derives its revenue from the sale of the rapid tester kits. The Company sells its products directly to healthcare providers, retailers and individual consumers through its retail channels. The Company considers customer order confirmations to be a contract with the customer. Customer confirmations are executed at the time an order is placed. Revenue is recognized when control of the product is transferred to the customer (i.e., when the Company’s performance obligation is satisfied), which typically occurs at shipment date. As a result, the Company has a present and unconditional right to payment and record the amount due from the customer in accounts receivable. For each contract, the Company considers the promise to transfer products to be the only identified performance obligation. In determining the transaction price, the Company evaluates whether the price is subject to refund or adjustment to determine the net consideration to which the Company expects to be entitled. The Company’s revenues for the three and nine months ended December 31, 2022 and 2021 are recognized at a point in time. |
Cost of revenue | • Cost of revenue Cost of revenue consists primarily of the cost of goods sold, which are directly attributable to the sales of products. |
Income taxes | • Income taxes The Company adopted the ASC 740 Income tax The estimated future tax effects of temporary differences between the tax basis of assets and liabilities are reported in the accompanying balance sheets, as well as tax credit carry-backs and carry-forwards. The Company periodically reviews the recoverability of deferred tax assets recorded on its balance sheets and provides valuation allowances as management deems necessary. |
Uncertain tax positions | • Uncertain tax positions The Company did no |
Foreign currencies translation | • Foreign currencies translation Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the unaudited condensed consolidated statement of operations. The reporting currency of the Company is United States Dollar ("US$") and the accompanying unaudited condensed consolidated financial statements have been expressed in US$. In addition, the Company is operating in Hong Kong and maintain its books and record in its local currency, Hong Kong Dollars (“HKD”), which is a functional currency as being the primary currency of the economic environment in which their operations are conducted. In general, for consolidation purposes, assets and liabilities of its subsidiary whose functional currency is not US$ are translated into US$, in accordance with ASC 830-30, “ Translation of Financial Statement Translation of amounts from HKD into US$ has been made at the following exchange rates for the nine months ended December 31, 2022 and 2021: Schedule of translation rates December 31, 2022 December 31, 2021 Period-end HKD:US$ exchange rate 0.1282 0.1282 Period average HKD:US$ exchange rate 0.1276 0.1286 |
Comprehensive income | • Comprehensive income ASC Topic 220, Comprehensive Income |
Net loss per share | • Net loss per share The Company calculates net loss per share in accordance with ASC 260, Earnings per Share |
Stock based compensation | • Stock based compensation Pursuant to ASU 2018-07, the Company follows ASC 718, Compensation—Stock Compensation |
Related parties | • Related parties The Company follows the ASC 850-10, Related Party Pursuant to section 850-10-20 the related parties include a) affiliates of the Company; b) entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of section 825–10–15, to be accounted for by the equity method by the investing entity; c) trusts for the benefit of employees, such as pension and Income-sharing trusts that are managed by or under the trusteeship of management; d) principal owners of the Company; e) management of the Company; f) other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and g) other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests. The unaudited condensed consolidated financial statements shall include disclosures of material related party transactions, other than compensation arrangements, expense allowances, and other similar items in the ordinary course of business. However, disclosure of transactions that are eliminated in the preparation of consolidated or combined financial statements is not required in those statements. The disclosures shall include: a) the nature of the relationship(s) involved; b) a description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods for which income statements are presented, and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements; c) the dollar amounts of transactions for each of the periods for which income statements are presented and the effects of any change in the method of establishing the terms from that used in the preceding period; and d) amount due from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement. |
Commitments and contingencies | • Commitments and contingencies The Company follows the ASC 450-20, Commitments If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s unaudited condensed consolidated financial statements. If the assessment indicates that a potentially material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. Management does not believe, based upon information available at this time that these matters will have a material adverse effect on the Company’s financial position, results of operations or cash flows. However, there is no assurance that such matters will not materially and adversely affect the Company’s business, financial position, and results of operations or cash flows. |
Fair value of financial instruments | • Fair value of financial instruments The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and has adopted paragraph 820-10-35-37 of the FASB Accounting Standards Codification (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 of the FASB Accounting Standards Codification establishes a framework for measuring fair value in generally accepted accounting principles (GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, paragraph 820-10-35-37 of the FASB Accounting Standards Codification establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three (3) levels of fair value hierarchy defined by paragraph 820-10-35-37 of the FASB Accounting Standards Codification are described below: Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3 Pricing inputs that are generally observable inputs and not corroborated by market data. Financial assets are considered Level 3 when their fair values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. If the inputs used to measure the financial assets and liabilities fall within more than one level described above, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument. The carrying amounts of the Company’s financial assets and liabilities, such as cash and cash equivalents, approximate their fair values because of the short maturity of these instruments. |
Recent accounting pronouncements | • Recent accounting pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standard Board (“FASB”) or other standard setting bodies and adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on its financial position or results of operations upon adoption. The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and do not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations. |
DESCRIPTION OF BUSINESS AND O_2
DESCRIPTION OF BUSINESS AND ORGANIZATION (Tables) | 9 Months Ended |
Dec. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of description of subsidiaries | Schedule of description of subsidiaries Name Place of incorporation and kind of legal entity Principal activities and place of operation Particulars of registered/ paid up share capital Effective interest held DH Investment Group Limited (“DHIG”) British Virgin Islands Investment holding 100 ordinary shares at par value of US$1 100 Ho Shun Yi Limited (“HSY”) Hong Kong Sale and distribution of COVID-19 rapid antigen tester set 10,000 ordinary shares for HK$10,000 100 |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Schedule of translation rates | Schedule of translation rates December 31, 2022 December 31, 2021 Period-end HKD:US$ exchange rate 0.1282 0.1282 Period average HKD:US$ exchange rate 0.1276 0.1286 |
INCOME TAX (Tables)
INCOME TAX (Tables) | 9 Months Ended |
Dec. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
Schedule of provision for income taxes | Schedule of provision for income taxes Nine months ended December 31, 2022 2021 Current tax $ – $ – Deferred tax – – Income tax expense $ – $ – |
Schedule of reconciliation of income tax rate | Schedule of reconciliation of income tax rate Nine months ended December 31, 2022 2021 Loss before income taxes $ (32,138 ) $ (191,397 ) Statutory income tax rate 16.5 16.5 Income tax expense at statutory rate (5,303 ) (31,581 ) Tax effect of non-deductible items 514 – Net operating loss 4,789 31,581 Income tax expense $ – $ – |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Schedule of deferred tax assets and liabilities December 31, 2022 March 31, 2022 Deferred tax assets: Net operating loss carryforwards - United States $ 131,091 $ 69,550 - Hong Kong 21,704 16,916 Total 152,795 86,466 Less: valuation allowance (152,795 ) (86,466 ) Deferred tax assets, net $ – $ – |
DESCRIPTION OF BUSINESS AND O_3
DESCRIPTION OF BUSINESS AND ORGANIZATION (Details) | 9 Months Ended |
Dec. 31, 2022 | |
DH Investment Group Limited [Member] | |
Ownership percentage | 100% |
Ho Shun Yi Limited [Member] | |
Ownership percentage | 100% |
DH Investment Group Limited [Member] | |
Name of subsidiary | DH Investment Group Limited (“DHIG”) |
Place of incorporation | British Virgin Islands |
Principal activities | Investment holding |
Share capital | 100 ordinary shares at par value of US$1 |
Ho Shun Yi Limited [Member] | |
Name of subsidiary | Ho Shun Yi Limited (“HSY”) |
Place of incorporation | Hong Kong |
Principal activities | Sale and distribution of COVID-19 rapid antigen tester set |
Share capital | 10,000 ordinary shares for HK$10,000 |
SUMMARY OF SIGNIFICANT ACCOUN_4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Hong Kong, Dollars | Dec. 31, 2022 | Dec. 31, 2021 |
Period End [Member] | ||
Intercompany Foreign Currency Balance [Line Items] | ||
Translation rate | 0.1282 | 0.1282 |
Average [Member] | ||
Intercompany Foreign Currency Balance [Line Items] | ||
Translation rate | 0.1276 | 0.1286 |
SUMMARY OF SIGNIFICANT ACCOUN_5
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Accounting Policies [Abstract] | ||
Uncertain tax positions | $ 0 | $ 0 |
GOING CONCERN UNCERTAINTIES (De
GOING CONCERN UNCERTAINTIES (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||
Net Income (Loss) Attributable to Parent | $ 57,033 | $ (3,983) | $ 330,059 | $ 256,718 |
Working capital | $ 766,908 | $ 766,908 |
ACCRUED MARKETING FEE (Details
ACCRUED MARKETING FEE (Details Narrative) - Marketing Consulting Agreements [Member] - USD ($) | 9 Months Ended | ||
Jan. 03, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Consultants [Member] | |||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Share price | $ 0.023 | ||
Consultants [Member] | |||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Shares Issued, Shares, Share-Based Payment Arrangement, before Forfeiture | 19,684,019 | ||
Shares Issued, Value, Share-Based Payment Arrangement, before Forfeiture | $ 452,732 | ||
Share-Based Payment Arrangement, Noncash Expense | $ 226,366 | $ 0 |
NOTE PAYABLE, RELATED PARTY (De
NOTE PAYABLE, RELATED PARTY (Details Narrative) - Loan Agreement [Member] - Daily Success Development Limited [Member] | 9 Months Ended |
Dec. 31, 2022 USD ($) | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
Debt Instrument, Face Amount | $ 133,557 |
Debt Instrument, Interest Rate During Period | 5% |
PROMISSORY NOTES, RELATED PAR_2
PROMISSORY NOTES, RELATED PARTIES (Details Narrative) - USD ($) | 9 Months Ended | ||
Aug. 23, 2022 | May 04, 2022 | Dec. 31, 2022 | |
Sally Kin Yi [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Proceeds from Related Party Debt | $ 84,645 | ||
Sally Kin Yi [Member] | Tranche 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Proceeds from Related Party Debt | $ 26,933 | ||
Sally Kin Yi [Member] | Tranche 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Proceeds from Related Party Debt | $ 57,712 | ||
Promisory Notes [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5% |
STOCKHOLDERS_ EQUITY (DEFICIT)
STOCKHOLDERS’ EQUITY (DEFICIT) (Details Narrative) - $ / shares | Dec. 31, 2022 | Mar. 31, 2022 |
Class of Stock [Line Items] | ||
Common stock, shares authorized | 4,400,000,000 | 4,400,000,000 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares issued | 831,310,013 | 831,310,013 |
Common stock, shares outstanding | 831,310,013 | 831,310,013 |
Convertible Preferred Stock [Member] | ||
Class of Stock [Line Items] | ||
Preferred Stock, Shares Authorized | 50,000,000 | 50,000,000 |
Preferred Stock, Par or Stated Value Per Share | $ 0.002 | $ 0.002 |
Series A Preferred Stock [Member] | ||
Class of Stock [Line Items] | ||
Preferred Stock, Par or Stated Value Per Share | $ 0.002 | $ 0.002 |
Preferred stock, shares issued | 3,120,001 | 3,120,001 |
Preferred stock, shares outstanding | 3,120,001 | 3,120,001 |
Series B Preferred Stock [Member] | ||
Class of Stock [Line Items] | ||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Preferred stock, shares issued | 100,000 | 100,000 |
Preferred stock, shares outstanding | 100,000 | 100,000 |
INCOME TAX (Details - Provision
INCOME TAX (Details - Provision for income taxes) - USD ($) | 9 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | ||
Current tax | $ 0 | $ 0 |
Deferred tax | 0 | 0 |
Income tax expense | $ 0 | $ 0 |
INCOME TAX (Details - Reconcili
INCOME TAX (Details - Reconciliation of income tax rate) - USD ($) | 9 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | ||
Loss before income taxes | $ (32,138) | $ (191,397) |
Statutory income tax rate | 16.50% | 16.50% |
Income tax expense at statutory rate | $ (5,303) | $ (31,581) |
Tax effect of non-deductible items | 514 | 0 |
Net operating loss | 4,789 | 31,581 |
Income tax expense | $ 0 | $ 0 |
INCOME TAX (Details - Component
INCOME TAX (Details - Components of deferred tax assets and liabilities) - USD ($) | Dec. 31, 2022 | Mar. 31, 2022 |
Net operating loss carryforwards | ||
Total | $ 152,795 | $ 86,466 |
Less: valuation allowance | (152,795) | (86,466) |
Deferred tax assets, net | 0 | 0 |
UNITED STATES | ||
Net operating loss carryforwards | ||
Total | 131,091 | 69,550 |
HONG KONG | ||
Net operating loss carryforwards | ||
Total | 21,704 | $ 16,916 |
Less: valuation allowance | $ (21,704) |
INCOME TAX (Details Narrative)
INCOME TAX (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2022 | |
Operating Loss Carryforwards | $ 624,244 | $ 624,244 | |||
Operating Income (Loss) | (50,553) | $ 4,897 | (331,937) | $ (253,213) | |
Income Tax Expense (Benefit) | 0 | $ 0 | 0 | 0 | |
Deferred Tax Assets, Valuation Allowance | 152,795 | 152,795 | $ 86,466 | ||
UNITED STATES | |||||
Operating Income (Loss) | 0 | $ 0 | |||
HONG KONG | |||||
Operating Loss Carryforwards | 131,541 | 131,541 | |||
Deferred Tax Assets, Valuation Allowance | $ 21,704 | $ 21,704 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) | 9 Months Ended |
Dec. 31, 2022 USD ($) | |
Shareholder Note Payable [Member] | |
Related Party Transaction [Line Items] | |
Accrued interest expense | $ 3,988 |
Notes payable related parties | 133,557 |
Shareholder And Director 1 [Member] | |
Related Party Transaction [Line Items] | |
Accrued interest expense | 3,067 |
Notes payable related parties | $ 84,645 |
CONCENTRATIONS OF RISK (Details
CONCENTRATIONS OF RISK (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Concentration Risk [Line Items] | ||||
Revenues | $ 7,325 | $ 30,777 | $ 13,906 | $ 176,662 |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Three Customers [Member] | ||||
Concentration Risk [Line Items] | ||||
Concentration Risk, Percentage | 72% | 55% | 67% | |
Revenues | $ 17,078 | |||
Accounts receivable | $ 0 | $ 780 | $ 0 | $ 780 |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Three Customer [Member] | ||||
Concentration Risk [Line Items] | ||||
Revenues | 5,256 | $ 118,557 | ||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Four Customers [Member] | ||||
Concentration Risk [Line Items] | ||||
Concentration Risk, Percentage | 65% | |||
Revenues | $ 9,086 | |||
Accounts receivable | $ 0 | 0 | ||
Cost Of Revenue [Member] | Product Concentration Risk [Member] | Supplier A [Member] | ||||
Concentration Risk [Line Items] | ||||
Concentration Risk, Percentage | 100% | 100% | 100% | |
Cost of revenue | $ 6,111 | $ 22,424 | $ 145,148 | |
Accounts payable | 0 | $ 2,008 | $ 0 | $ 2,008 |
Cost Of Revenue [Member] | Product Concentration Risk [Member] | Supplier B [Member] | ||||
Concentration Risk [Line Items] | ||||
Concentration Risk, Percentage | 100% | |||
Cost of revenue | $ 8,349 | |||
Accounts payable | $ 0 | $ 0 |