Healthtech Solutions (HLTT) 10-Q 23 Oct 20 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Sep. 30, 2020	Oct. 22, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--06-30
Entity File Number	0-51012
Entity Registrant Name	HYB Holding Corp.
Entity Central Index Key	0001307624
Entity Tax Identification Number	84-2528660
Entity Incorporation, State or Country Code	UT
Entity Address, Address Line One	181 Dante Avenue
Entity Address, City or Town	Tuckahoe
Entity Address, State or Province	NY
Entity Address, Country	US
Entity Address, Postal Zip Code	10707
City Area Code	914
Local Phone Number	693-3026
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	true
Entity Common Stock, Shares Outstanding		9,701,269

Balance Sheets (Unaudited)

Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2020	Jun. 30, 2020
CURRENT ASSETS
Cash
Total Current and Total Assets	0	0
CURRENT LIABILITIES
Accounts payable - related party	6,094	25,708
Loans payable - related party	5,849	13,303
Accounts payable and accrued expenses	1,000	5,500
Total Current and Total Liabilities	12,943	44,511
STOCKHOLDERS' DEFICIT
Common Stock, $0.001 par value, 200,000,000 shares authorized, 9,701,269 issued and outstanding	9,701	9,701
Additional paid-in capital	49,919
Accumulated deficit	(72,563)	(54,212)
Total Stockholders' Deficit	(12,943)	(44,511)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 0	$ 0

Balance Sheets (Unaudited) (Par

Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2020	Jun. 30, 2020
Statement of Financial Position [Abstract]
Common stock, shares authorized	200,000,000	200,000,000
Common stock, par value per share	$ 0.001	$ 0.001
Common stock, shares issued	9,701,269	9,701,269
Common stock, shares outstanding	9,701,269	9,701,269

Statements Of Operations (Unaud

Statements Of Operations (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Revenues
Total Revenues
Operating Expenses:
General & administrative	18,351	20,374
Total Operating Expenses	18,351	20,374
Net loss Before Provision for Income Tax	(18,351)	(20,374)
Provision for income tax
Net Loss	$ (18,351)	$ (20,374)
Loss per common share, basic and diluted	$ 0	$ 0
Weighted average shares outstanding, basic and diluted	9,701,269	9,701,269

Statements Of Changes In Stockh

Statements Of Changes In Stockholders' Deficit - USD ($)	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Total
Balance common stock, shares at Jun. 30, 2019	9,701,269
Balance, value at Jun. 30, 2019	$ 9,701		$ (16,718)	$ (7,017)
Net Loss for the Period			(20,374)	(20,374)
Balance common stock, shares at Sep. 30, 2019	9,701,269
Balance, value at Sep. 30, 2019	$ 9,701		(37,092)	$ (27,391)
Balance common stock, shares at Jun. 30, 2020	9,701,269			9,701,269
Balance, value at Jun. 30, 2020	$ 9,701		(54,212)	$ (44,511)
Loan forgiveness from related party		49,919		49,919
Net Loss for the Period			(18,351)	$ (18,351)
Balance common stock, shares at Sep. 30, 2020	9,701,269			9,701,269
Balance, value at Sep. 30, 2020	$ 9,701	$ 49,919	$ (72,563)	$ (12,943)

Statements Of Cash Flows (Unaud

Statements Of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities
Net loss	$ (18,351)	$ (20,374)
Changes in operating assets and liabilities:
Accounts payable - related party	16,782	20,374
Loan payable - related party	6,069
Accounts payable and accrued expenses	(4,500)
Net cash (used in) operating activities
Net change in cash, cash equivalents, and restricted cash
Cash, cash equivalents, and restricted cash beginning of period
Cash, cash equivalents, and restricted cash end of period
Supplemental disclosure of cash flow information:
Cash paid for income taxes
Cash paid for interest

General

General	3 Months Ended
	Sep. 30, 2020
General
General	1. GENERAL Organization and Business Nature HYB Holding Corp. (the “Company”) was incorporated in Utah on October 18, 1985. The Company has had no business operations since April 25, 2015, when it spun off its only direct subsidiary, which at that time owned, directly or indirectly, all of the assets through which the Company was carrying on operations. Because it has no operations or assets, the Company is currently a “shell company” as defined in Rule 405 under the Securities Act of 1933 (“Securities Act”) and Rule 12b-2 under the Securities Exchange Act of 1934 (“Exchange Act”). On September 4, 2020 a holding company controlled by the Company's current Chief Executive Officer purchased 6,465,442 shares of the Company’s common stock from the prior Chief Executive Officer. Following that purchase, the current Chief Executive Officer owned approximately 66% of the voting securities of the Company. The purchase resulted in a change in control of the Company.

Accounting Policies

Accounting Policies	3 Months Ended
	Sep. 30, 2020
Accounting Policies
Accounting Policies	2. ACCOUNTING POLICIES Basis of Accounting and Presentation The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial statements and with the instructions to Form 10-Q and Article 8 of Regulation S-X of the United States Securities and Exchange Commission (“SEC”). Accordingly, they do not contain all information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements. In the opinion of the Company’s management, the accompanying unaudited financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as of September 30, 2020 and the results of operations and cash flows for the periods presented. The results of operations for the period ended September 30, 2020 are not necessarily indicative of the operating results for the full fiscal year or any future period. These unaudited financial statements should be read in conjunction with the financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended June 30, 2020 filed with the SEC on September 4, 2020. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. As of September 30 and June 30, 2020, the Company did not have any cash or cash equivalents. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to 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 the reported amounts of revenue and expenses during the period. Actual results could differ from these estimates. Income Taxes The Company accounts for income taxes in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Section 740, “ Income Taxes The Company accounts for uncertain tax positions in accordance with ASC Section 740-10, which prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The guidance also prescribes direction on de-recognition, classification, and accounting for interest and payables in the financial statements. The Company classifies interest expense and any related penalties related to income tax uncertainties as a component of income tax expense. No interest or penalties have been recognized as of September 30 or June 30, 2020. The Company does not expect any significant changes in unrecognized tax benefits within twelve months of the reporting date. Net Earnings (Loss) Per Share The Company computes net income (loss) per common share in accordance with ASC 260, “ Earnings per Share Fair Value of Financial Instruments The Company measures the fair value of financial assets and liabilities based on the guidance of ASC 820 “ Fair Value Measurements and Disclosures ASC 820 defines fair value as the 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 as follows: · Level 1 - quoted prices in active markets for identical assets or liabilities. · Level 2 - inputs other than quoted prices in Level 1 that are observable either directly or indirectly. · Level 3 - inputs based on prices or valuation techniques that are both unobservable and significant to the fair value markets. The Company did not identify any assets or liabilities that are required to be presented at fair value on a recurring basis. Carrying values of non-derivative financial instruments, including accrued expenses, approximated its fair value due to the short-term nature of these financial instruments. There were no changes in methods or assumptions during the periods presented. Recently Issued Accounting Standards The Company does not believe any recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the Company’s financial statements.

Going Concern

Going Concern	3 Months Ended
	Sep. 30, 2020
Going Concern
Going Concern	3. Going concern The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate continuation of the Company as a going concern and the realization of assets and satisfaction of liabilities in the normal course of business. The Company has not generated any revenue, nor any significant operations during the quarter ended September 30, 2020 or the years ended June 30, 2020 and 2019. The Company does not have any assets as of September 30, 2020. As of September 30, 2020, the Company had a working capital deficiency and a stockholders’ deficit of $12,943. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustment that might result from the outcome of this uncertainty. The Company’s current business plan is to seek an acquisition or merger with a private operating company. However, there can be no assurance that the Company will be able to successfully consummate an acquisition or merger with a private operating company or, that the Company will identify any debt or equity financing sources to finance a potential acquisition or merger. If unable to obtain financing, the Company may be unable to complete its business plan, and would, instead, delay all cash intensive activities. The Company will continue to be dependent on funding by its majority stockholder for cash flow, which may not be available. Without necessary cash flow, the Company may become dormant during the next twelve months, or until such time that necessary funds could be raised.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Sep. 30, 2020
Related Party Transactions
Related Party Transactions	4. RELATED PARTY TRANSACTIONS During the quarter ended September 30, 2020, the individual who was the Company's majority shareholder and CEO until September 4, 2020 and who remains the Corporate Secretary for the Company provided legal services to the Company for which he invoiced $16,782 and advanced $1,569 to pay expenses incurred by the Company. During the quarter ended September 30, 2019, the Company's then-majority shareholder and CEO provided legal services to the Company for which he invoiced $10,031 and advanced $11,233 to pay expenses incurred by the Company. On September 4, 2020, the individual who until that date was the Company's majority shareholder and CEO waived an account payable by the Company of $36,396 and a loan payable by the Company of $13,523, all in connection with his sale of his equity interest in the Company. The full amount waived, $49,919, was recorded as additional paid-in capital in the Company's financial statements. On September 2, 2020, the entity which became the Company's majority shareholder on September 4, 2020 advanced $4,500 to the Company by paying a vendor invoice to the Company in that amount. The loan was non-interest-bearing and payable on demand. The Company uses as its executive office, at no expense, office space provided to it by its Corporate Secretary.

Income Taxes

Income Taxes	3 Months Ended
	Sep. 30, 2020
Income Taxes
Income Taxes	5. INCOME TAXES The provision (benefit) for income taxes consisted of the following for the quarters ended September 30, 2020 and 2019: Three Months ended September 30, 2020 2019 Current $ (3,850) $ - Deferred - (5,094) Change in valuation allowance 3,850 5,094 Income tax provision (benefit) $ - $ - The following table reconciles the effective income tax rates with the statutory rates for the quarters ended September 30, 2020 and 2019: 2020 2019 U.S. federal statutory rate 21.0 % 21.0 % State tax, net of federal benefit 5.0 % 5.0 % Change in valuation allowance 26.0 % 26.0 % Effective income tax rate — % — % Deferred tax assets are comprised of the following: September 30, 2020 2019 Net operating loss carryforwards $ 13,119 $ 9,269 Valuation allowance (13,119) (9,269) Net deferred tax assets $ - $ - At September 30, 2020, the Company had approximately $72,351 of federal net operating losses that may be available to offset future taxable income. The Federal net operating loss carryover, if not utilized, will expire beginning in 2027. Through 2036, the amount and utilization of any future net operating loss carry-forwards may be subject to limitations set forth by the Internal Revenue Code. Based upon an analysis of the Company’s stock ownership activity through September 30, 2020, a change of ownership was deemed to have occurred in the 2018 fiscal year and again in the 2021 fiscal year. These changes of ownership created an annual limitation of substantially all of the Company’s net operating losses which are available through 2036. The Company assesses the likelihood that deferred tax assets will be realized. To the extent that realization is not likely, a valuation allowance is established. Based upon the Company’s losses since inception, management believes that it is more likely than not that future benefit of the deferred tax asset will not be realized principally due to the continuing losses from operations and the change of ownership limitations and has therefore established a full valuation allowance. The valuation allowance was increased by $3,850 during the three months ended September 30, 2020 and increased by $5,094 during the three months ended September 30, 2019. The tax years ended June 30, 2020, 2019, 2018 and 2017 remain open to examination by the taxing authorities.

Subsequent Events

Subsequent Events	3 Months Ended
	Sep. 30, 2020
Subsequent Events
Subsequent Events	6. SUBSEQUENT EVENTS The Company’s management has performed subsequent events procedures through the date the financial statements were issued. No subsequent events required adjustment to or disclosure in the financial statements.

Accounting Policies (Policies)

Accounting Policies (Policies)	3 Months Ended
	Sep. 30, 2020
Disclosure Accounting Policies Policies Abstract
Basis of Accounting and Presentation	Basis of Accounting and Presentation The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial statements and with the instructions to Form 10-Q and Article 8 of Regulation S-X of the United States Securities and Exchange Commission (“SEC”). Accordingly, they do not contain all information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements. In the opinion of the Company’s management, the accompanying unaudited financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as of September 30, 2020 and the results of operations and cash flows for the periods presented. The results of operations for the period ended September 30, 2020 are not necessarily indicative of the operating results for the full fiscal year or any future period. These unaudited financial statements should be read in conjunction with the financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended June 30, 2020 filed with the SEC on September 4, 2020.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. As of September 30 and June 30, 2020, the Company did not have any cash or cash equivalents.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to 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 the reported amounts of revenue and expenses during the period. Actual results could differ from these estimates.
Income Taxes	Income Taxes The Company accounts for income taxes in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Section 740, “ Income Taxes The Company accounts for uncertain tax positions in accordance with ASC Section 740-10, which prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The guidance also prescribes direction on de-recognition, classification, and accounting for interest and payables in the financial statements. The Company classifies interest expense and any related penalties related to income tax uncertainties as a component of income tax expense. No interest or penalties have been recognized as of September 30 or June 30, 2020. The Company does not expect any significant changes in unrecognized tax benefits within twelve months of the reporting date.
Net Earnings (Loss) Per Share	Net Earnings (Loss) Per Share The Company computes net income (loss) per common share in accordance with ASC 260, “ Earnings per Share
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company measures the fair value of financial assets and liabilities based on the guidance of ASC 820 “ Fair Value Measurements and Disclosures ASC 820 defines fair value as the 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 as follows: · Level 1 - quoted prices in active markets for identical assets or liabilities. · Level 2 - inputs other than quoted prices in Level 1 that are observable either directly or indirectly. · Level 3 - inputs based on prices or valuation techniques that are both unobservable and significant to the fair value markets. The Company did not identify any assets or liabilities that are required to be presented at fair value on a recurring basis. Carrying values of non-derivative financial instruments, including accrued expenses, approximated its fair value due to the short-term nature of these financial instruments. There were no changes in methods or assumptions during the periods presented.
Recently Issued Accounting Standards	Recently Issued Accounting Standards The Company does not believe any recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the Company’s financial statements.

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Sep. 30, 2020
Disclosure Income Taxes Tables Abstract
Schedule of Provision for Income Taxes	The provision (benefit) for income taxes consisted of the following for the quarters ended September 30, 2020 and 2019: Three Months ended September 30, 2020 2019 Current $ (3,850) $ - Deferred - (5,094) Change in valuation allowance 3,850 5,094 Income tax provision (benefit) $ - $ -
Schedule of Effective Income Tax Rate Reconciliation	The following table reconciles the effective income tax rates with the statutory rates for the quarters ended September 30, 2020 and 2019: 2020 2019 U.S. federal statutory rate 21.0 % 21.0 % State tax, net of federal benefit 5.0 % 5.0 % Change in valuation allowance 26.0 % 26.0 % Effective income tax rate — % — %
Schedule of Deferred Tax Assets	Deferred tax assets are comprised of the following: September 30, 2020 2019 Net operating loss carryforwards $ 13,119 $ 9,269 Valuation allowance (13,119) (9,269) Net deferred tax assets $ - $ -

Income Taxes (Schedule Of Provi

Income Taxes (Schedule Of Provision For Income Taxes) (Details) - USD ($)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Income Taxes Schedule Of Provision For Income Taxes
Current	$ (3,850)
Deferred		(5,094)
Change in valuation allowance	(3,850)	(5,094)
Income tax provision (benefit)

Income Taxes (Schedule Of Effec

Income Taxes (Schedule Of Effective Income Tax Rate Reconciliation) (Details)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation
U.S. federal statutory rate	21.00%	21.00%
State tax, net of federal benefit	5.00%	5.00%
Change in Valuation allowance	(26.00%)	(26.00%)
Effective income tax rate

Income Taxes (Schedule Of Defer

Income Taxes (Schedule Of Deferred Tax Assets) (Details) - USD ($)	Sep. 30, 2020	Sep. 30, 2019
Income Taxes Schedule Of Deferred Tax Assets
Net operating loss carryforwards	$ 13,119	$ 9,269
Valuation allowance	13,119	9,269
Net deferred tax assets

General (Narrative) (Details)

General (Narrative) (Details) - Chief Executive Officer [Member]	Sep. 04, 2020USD ($)
Stock issued	$ 6,465,442
Related party transaction description	Following that purchase, the current Chief Executive Officer owned approximately 66% of the voting securities of the Company. The purchase resulted in a change in control of the Company.

Related Party Transactions (Nar

Related Party Transactions (Narrative) (Details) - USD ($)	Sep. 04, 2020	Sep. 30, 2020	Sep. 30, 2019
Related Party Transaction [Line Items]
Loan forgiveness from related party		$ 49,919
Majority Shareholder And CEO [Member]
Related Party Transaction [Line Items]
General & administrative - related party		16,782
Advanced to pay expenses		$ 1,569
Majority Shareholder And CEO [Member]
Related Party Transaction [Line Items]
General & administrative - related party			$ 10,031
Advanced to pay expenses			$ 11,233
Waived an accounts payable	$ 36,396
Waived an loans payable	13,523
Majority Shareholder And CEO [Member] | Loans Payable [Member]
Related Party Transaction [Line Items]
Loan forgiveness from related party	49,919
Proceeds from related party debt	$ 4,500
Debt instrument description	The loan was non-interest-bearing and payable on demand.

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details)	3 Months Ended
	Sep. 30, 2020USD ($)
Income Taxes Narrative
Net operating loss carryforward	$ 72,351
Operating loss carryforward limitations on use	Will expire beginning in 2027. These change of ownership created an annual limitation of substantially all of the Company’s net operating losses which are available through 2036