Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Sep. 30, 2018 | Dec. 27, 2018 | Mar. 31, 2018 | |
Details | |||
Registrant Name | China Foods Holdings Ltd. | ||
Registrant CIK | 0001310630 | ||
SEC Form | 10-K | ||
Period End date | Sep. 30, 2018 | ||
Fiscal Year End | --09-30 | ||
Trading Symbol | tflg | ||
Tax Identification Number (TIN) | 910974149 | ||
Number of common stock shares outstanding | 5,251,309 | ||
Public Float | $ 253,425 | ||
Filer Category | Non-accelerated Filer | ||
Current with reporting | Yes | ||
Voluntary filer | Yes | ||
Well-known Seasoned Issuer | No | ||
Shell Company | true | ||
Small Business | true | ||
Emerging Growth Company | false | ||
Amendment Description | Y | ||
Amendment Flag | true | ||
Document Fiscal Year Focus | 2018 | ||
Document Fiscal Period Focus | FY | ||
Entity Incorporation, State Country Name | Utah |
BALANCE SHEETS
BALANCE SHEETS - USD ($) | Sep. 30, 2018 | Sep. 30, 2017 |
CURRENT ASSETS | ||
Cash | $ 0 | $ 15,140 |
Prepayment | 0 | 3,333 |
TOTAL CURRENT ASSETS | 0 | 18,473 |
TOTAL ASSETS | 0 | 18,473 |
CURRENT LIABILITIES | ||
Accounts payable | 3,959 | 632 |
Interest payable - related party | 0 | 103,589 |
Income taxes payable | 100 | 100 |
Amount due to a related party | 14,000 | 0 |
Note Payable - Related Party - Current | 0 | 190,000 |
TOTAL CURRENT LIABILITIES | 18,059 | 294,321 |
LONG-TERM LIABILITIES | ||
Notes payable -- Related party | 0 | 30,000 |
TOTAL LONG-TERM LIABILITIES | 0 | 30,000 |
TOTAL LIABILITIES | 18,059 | 324,321 |
STOCKHOLDERS' DEFICIT | ||
Common stock no par value, 100,000,000 shares authorized, 5,251,309 shares issued and outstanding | 137,413 | 137,413 |
Other reserve | 350,547 | 0 |
Accumulated deficit | (506,019) | (443,261) |
TOTAL STOCKHOLDERS' DEFICIT | (18,059) | (305,848) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 0 | $ 18,473 |
BALANCE SHEETS - Parenthetical
BALANCE SHEETS - Parenthetical - $ / shares | Sep. 30, 2018 | Sep. 30, 2017 |
Details | ||
Common Stock, No Par Value | $ 0 | $ 0 |
Common Stock, Shares Authorized | 100,000,000 | 100,000,000 |
Common Stock, Shares, Issued | 5,251,309 | 5,251,309 |
Common Stock, Shares, Outstanding | 5,251,309 | 5,251,309 |
Statements of Operations
Statements of Operations - USD ($) | 12 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Details | ||
Income | $ 0 | $ 0 |
Cost of Sales | 0 | 0 |
Gross Profit | 0 | 0 |
Operating expenses: | ||
General and administrative | 42,308 | 29,118 |
Total operating expenses | 42,308 | 29,118 |
Operating loss | (42,308) | (29,118) |
Interest expense to a related party | (20,350) | (25,700) |
Loss before income taxes | (62,658) | (54,818) |
Provision for income taxes | 100 | 100 |
Net loss | $ (62,758) | $ (54,918) |
Net loss per common share Basic and diluted | $ (0.01) | $ (0.01) |
Weighted average number of common shares outstanding basic and diluted | 5,251,309 | 5,251,309 |
Statement of Stockholders' Defi
Statement of Stockholders' Deficit - USD ($) | Common Stock | Additional Paid-in Capital | Retained Earnings | Total |
Shares, Outstanding, Beginning Balance at Sep. 30, 2016 | 5,251,309 | |||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Sep. 30, 2016 | $ 137,413 | $ (388,343) | $ (250,930) | |
Net loss | $ 0 | (54,918) | (54,918) | |
Shares, Outstanding, Ending Balance at Sep. 30, 2017 | 5,251,309 | |||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Sep. 30, 2017 | $ 137,413 | (443,261) | (305,848) | |
Other reserve | 0 | $ 350,547 | 0 | 350,547 |
Net loss | $ 0 | (62,758) | (62,758) | |
Shares, Outstanding, Ending Balance at Sep. 30, 2018 | 5,251,309 | |||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Sep. 30, 2018 | $ 137,413 | $ 350,547 | $ (506,019) | $ (18,059) |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Cash flows from operating activities: | ||
Net loss | $ (62,758) | $ (54,918) |
Interest expense to a related party | 20,350 | 25,700 |
Adjustments to reconcile net loss to net cash used in operating activities: | (42,208) | (54,918) |
Decrease (increase) in Prepayment | 3,333 | (833) |
(Decrease) increase in Interest payable | (13,392) | 0 |
Increase in accounts payable | 3,327 | 0 |
Increase in amount due to a related party | 14,000 | 0 |
Net cash used in operating activities | (35,140) | (30,051) |
Cash flows from investing activities | 0 | 0 |
Cash flows from financing activities: | ||
Increase in notes payable - related party | 20,000 | 30,000 |
Net cash provided by financing activites | 20,000 | 30,000 |
Net (decrease) increase in cash and cash equivalents | (15,140) | (51) |
Cash, beginning of year | 15,140 | 15,191 |
Cash, end of year | 0 | 15,140 |
Supplemental disclosure of cash flow information | ||
Interest paid | 0 | 0 |
Taxes paid | $ 100 | $ 100 |
Organization and Operations and
Organization and Operations and Summary of Significant Accounting Policies | 12 Months Ended |
Sep. 30, 2018 | |
Notes | |
Organization and Operations and Summary of Significant Accounting Policies | NOTE 1: ORGANIZATION AND OPERATIONS Trafalgar Resources, Inc. (the "Company") was incorporated under the laws of the State of Utah on October 25, 1972. The Company is considered as a development stage enterprise because since October 1, 2003, it has not commenced operations that have resulted in significant revenue and the Company's efforts have been devoted primarily to activities related to raising capital and attempting to acquire an operating entity. NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Accounting Basis The accompanying audited financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) and are presented in US dollars. The Company has adopted a September 30 fiscal year end. Accounting Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from these estimates. Changes in estimates are recorded in results of operations in the period that the event or circumstances giving rise to such changes occur. Cash and cash equivalents The Company considers all highly liquid investments with the original maturities of three months or less at the time of purchase to be cash equivalents. Fair Value of Financial Instruments The Companys financial instruments consist of cash, accounts payable, interest payable related party, amount due to a related party, notes payable related party. The carrying amount of these financial instruments approximates fair value due to length of maturity or interest rates that approximate prevailing market rates. Income Taxes The Company accounts for deferred tax assets and liabilities using enacted tax rates for the effect of temporary differences between book and tax basis of recorded assets and liabilities. A valuation allowance is required if it is more likely than not that some portion or all of the deferred tax assets will not be realized. The determination of whether or not a valuation allowance is needed is based upon an evaluation of both positive and negative evidence. The ultimate amount of deferred tax assets realized could be different from those recorded, as influenced by potential changes in enacted tax laws and the availability of future taxable income. Revenue recognition Revenue is recognized at the point of passage to the customer of title and risk of loss, when there is persuasive evidence of an arrangement, the sales price is determinable, and collection of the resulting receivable is reasonably assured. The Company recognize revenue as services are provided. Revenues are reflected net of coupon discounts. Net loss per common share Loss per share is calculated by dividing the Companys net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Companys net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are no such common stock equivalents outstanding as of September 30, 2018, 2017 and 2016. Recent Accounting Pronouncements The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Companys results of operations, financial position or cash flow. |
Going Concern
Going Concern | 12 Months Ended |
Sep. 30, 2018 | |
Notes | |
Going Concern | NOTE 3: GOING CONCERN The financial statements have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company has incurred losses resulting in an accumulated deficit of $506,019 as of September 30, 2018 and has negative cash flows from operations. Further losses are anticipated in the development of its business raising substantial doubt about the Companys ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and, or, to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to seek new capital from a related part to provide needed funds for the next twelve months. These financials do not include any adjustments relating to the amounts and classifications of liabilities that might result from this uncertainty. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Sep. 30, 2018 | |
Notes | |
Related Party Transactions | NOTE 4: RELATED PARTY TRANSACTIONS During the year ended September 30, 2018, all the twelve notes owed to its President, as disclosed below, has been waived. An aggregated principal and interest of $350,547 were waived, while the President draw the cash $13,392. Note 1 is for $10,000 and bears interest of 4.5% per year. Note 2 is for $10,000and bears interest of 4.5% per year and $10,450 in interest and principal was due February 28, 2011. Note 3 is for $20,000 and bears interest of 4.5% per year and $20,900 in interest and principal was due January 15, 2014. Note 1, 2 and 3 are in default resulting in an 18% default rate of interest accruing. Note 4 is for $10,000 and bears interest of 4.5% per year. Interest of $450 was due on May 7, 2011, 2012, 2013, and 2014. Interest and principal of $10,450 was due May 7, 2015. Note 4 is in default resulting in a 14% default rate of interest accruing. Note 5 is for $20,000 and bears interest of 4.75% per year. Interest of $950 was due on February 1, 2012, 2013, and 2014. Interest and principal of $20,950 was due on February 1, 2015. Note 5 is in default resulting in a 12% default rate of interest accruing. Note 6 is for $20,000 and bears interest of 8.0% per year. Interest of $1,600 was due on February 1, 2013. Interest and principal of $21,600 was due on February 1, 2014. Note 6 is in default resulting in a 12% default rate of interest accruing. Note 7 is for $20,000 and bears interest of 8.0% per year. Interest of $1,600 was due on March 1, 2014. Interest and principal of $21,600 was due on March 1, 2015. Note 7 is in default resulting in a 12% default rate of interest accruing. Note 8 is for $20,000 and bears interest of 8.0% per year. Interest of $1,600 was due February 3, 2015. Interest and principal of $21,600 was due on February 3, 2016. Note 8 is in default resulting in a 12% default rate of interest accruing. Note 9 is for $30,000 and bears interest of 8.0% per year. Interest of $2,400 is due December 12, 2016. Interest and principal of $32,400 was due December 12, 2016. Note 9 is in default resulting in a 12% default rate of interest accruing. Note 10 is for $30,000 and bears interest of 8% per year. Interest of $2,400 was due January 5, 2017. Interest and principal of $32,400 is due January 5, 2018. Note 10 is in default resulting in a 12% default rate of interest accruing. Note 11 is for $$30,000 and bears interest of 8.0%. Interest of $2,400 was due on December 27, 2017. Interest and principal of $32,400 is due December 27, 2018. Note 12 is for $20,000 and bears interest of 8.0%. Interest of $1,600 is due on March 8, 2019. Interest and principal of $21,600 is due on March 9, 2020. |
Income Taxes
Income Taxes | 12 Months Ended |
Sep. 30, 2018 | |
Notes | |
Income Taxes | NOTE 5: INCOME TAXES Deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. Income tax periods 2016, 2017 and 2018 are open for examination by taxing authorities. The income tax expense (benefit) for the year ended September 30, 2018 differs from the amount computed using the federal statutory rates as follows: Year Ended September 30, 2018 Year Ended September 30, 2017 Income tax expense (benefit) at Federal tax rate of 21% for 2018 and 35% for 2017 $ (13,179) $ (19,186) State income tax 100 100 Effect of rate changes on deferred tax assets and valuation allowance 8,786 - Non-deductible expenses 4,274 - Valuation allowance 119 19,186 Total 100 100 On December 22, 2017, the 2017 Tax Cuts and Jobs Act (the Tax Act) was enacted into law including a one-time mandatory transition tax on accumulated foreign earnings and a reduction of the corporate income tax rate to 21% effective on January 1, 2018, among others. We are required to recognize the effect of the tax law changes in the period of enactment, such as determining the transition tax, remeasuring our U.S. deferred tax assets and liabilities as well as reassessing the net realizability of our deferred tax assets and liabilities. The Company does not have any foreign earnings and therefore, we do not anticipate the impact of a transition tax. We have remeasured our U.S. deferred tax assets at a statutory income tax rate of 21%. Since the Tax Act was passed late in the fourth quarter of 2017, and ongoing guidance and accounting interpretation are expected over the next 12 months, we consider the accounting of any transition tax, deferred tax re-measurements, and other items to be incomplete due to the forthcoming guidance and our ongoing analysis of final year-end data and tax positions. We expect to complete our analysis within the measurement period in accordance with SAB 118. Deferred tax assets for the year ending September 30, 2018 and 2017 are comprised primarily of the following: September 30, 2018 September 30, 2017 Net Operating Loss Carryforward 59,010 119,946 Valuation Allowance (59,010) (119,946) Total deferred tax asset $ - $ - At September 30, 2018 the Company had a net operating loss carry forward of approximately $281,000 that may be offset against future taxable income through 2036. These losses will start to expire in the year 2019 through 2038. No tax benefit has been reported in the financial statements because the Company believes that it is more likely than not that the carryforwards will expire unused. The utilization of future losses may be limited under various provisions of the Internal Revenue Code pertaining to continuity of business operations limits and substantial changes in ownership. Accordingly, the potential tax benefits of the loss carryforwards are offset by a valuation allowance of the same amount. The valuation allowance decreased during the year ended September 30, 2018 by approximately $60,936 as a result of prior accrued interest due to a related party that will not be deducted on a future tax return and also as a result of a lower tax rate going forward. The Company has no tax positions at September 30, 2018 and 2017 for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Sep. 30, 2018 | |
Notes | |
Subsequent Events | NOTE 6: SUBSEQUENT EVENTS The Company has analyzed its operations subsequent to September 30, 2018 to the date these financial statements were available to be issued and has determined that it does not have any material subsequent events to disclose in these financial statements. |
Organization and Operations a_2
Organization and Operations and Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Sep. 30, 2018 | |
Policies | |
Basis of Presentation and Accounting Basis | Basis of Presentation and Accounting Basis The accompanying audited financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) and are presented in US dollars. The Company has adopted a September 30 fiscal year end. |
Accounting Estimates | Accounting Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from these estimates. Changes in estimates are recorded in results of operations in the period that the event or circumstances giving rise to such changes occur. |
Cash and Cash Equivalents | Cash and cash equivalents The Company considers all highly liquid investments with the original maturities of three months or less at the time of purchase to be cash equivalents. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The Companys financial instruments consist of cash, accounts payable, interest payable related party, amount due to a related party, notes payable related party. The carrying amount of these financial instruments approximates fair value due to length of maturity or interest rates that approximate prevailing market rates. |
Income Taxes | Income Taxes The Company accounts for deferred tax assets and liabilities using enacted tax rates for the effect of temporary differences between book and tax basis of recorded assets and liabilities. A valuation allowance is required if it is more likely than not that some portion or all of the deferred tax assets will not be realized. The determination of whether or not a valuation allowance is needed is based upon an evaluation of both positive and negative evidence. The ultimate amount of deferred tax assets realized could be different from those recorded, as influenced by potential changes in enacted tax laws and the availability of future taxable income. |
Revenue Recognition | Revenue recognition Revenue is recognized at the point of passage to the customer of title and risk of loss, when there is persuasive evidence of an arrangement, the sales price is determinable, and collection of the resulting receivable is reasonably assured. The Company recognize revenue as services are provided. Revenues are reflected net of coupon discounts. |
Net Loss Per Share of Common Stock | Net loss per common share Loss per share is calculated by dividing the Companys net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Companys net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are no such common stock equivalents outstanding as of September 30, 2018, 2017 and 2016. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Companys results of operations, financial position or cash flow. |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Tables/Schedules | |
Schedule of Components of Income Tax Expense (Benefit) | Year Ended September 30, 2018 Year Ended September 30, 2017 Income tax expense (benefit) at Federal tax rate of 21% for 2018 and 35% for 2017 $ (13,179) $ (19,186) State income tax 100 100 Effect of rate changes on deferred tax assets and valuation allowance 8,786 - Non-deductible expenses 4,274 - Valuation allowance 119 19,186 Total 100 100 |
Schedule of Deferred Tax Assets and Liabilities | September 30, 2018 September 30, 2017 Net Operating Loss Carryforward 59,010 119,946 Valuation Allowance (59,010) (119,946) Total deferred tax asset $ - $ - |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) | 12 Months Ended | ||||||||||||||||||
Sep. 30, 2018 | Sep. 30, 2017 | Mar. 09, 2020 | Mar. 08, 2019 | Dec. 27, 2018 | Jan. 05, 2018 | Dec. 27, 2017 | Jan. 05, 2017 | Dec. 12, 2016 | Feb. 03, 2016 | May 07, 2015 | Mar. 01, 2015 | Feb. 03, 2015 | Feb. 01, 2015 | Mar. 01, 2014 | Feb. 01, 2014 | Jan. 15, 2014 | Feb. 01, 2013 | Feb. 28, 2011 | |
Details | |||||||||||||||||||
Other reserve | $ 350,547 | $ 0 | |||||||||||||||||
(Decrease) increase in Interest payable | $ 13,392 | $ 0 | |||||||||||||||||
Note 1 amount | $ 10,000 | ||||||||||||||||||
Note 1 interest rate | 4.50% | ||||||||||||||||||
Note 2 amount | 10,000 | ||||||||||||||||||
Note 2 interest rate | 4.50% | ||||||||||||||||||
Note 2 Principal and Interest | 10,450 | ||||||||||||||||||
Note 3 amount | $ 20,000 | ||||||||||||||||||
Note 3 interest rate | 4.50% | ||||||||||||||||||
Note 3 principal and interest | $ 20,900 | ||||||||||||||||||
Note 1 Note 2 and Note 3 default interest rate | 18.00% | ||||||||||||||||||
Note 4 amount | $ 10,000 | ||||||||||||||||||
Note 4 interest rate | 4.50% | ||||||||||||||||||
Note 4 interest | $ 450 | ||||||||||||||||||
Note 4 principal and interest | $ 10,450 | ||||||||||||||||||
Note 4 Default Interest Rate | 14.00% | ||||||||||||||||||
Note 5 amount | $ 20,000 | ||||||||||||||||||
Note 5 interest rate | 4.75% | ||||||||||||||||||
Note 5 interest | $ 950 | ||||||||||||||||||
Note 5 principal and interest | $ 20,950 | ||||||||||||||||||
Note 5 Default Interest Rate | 12.00% | ||||||||||||||||||
Note 6 amount | $ 20,000 | ||||||||||||||||||
Note 6 interest rate | 8.00% | ||||||||||||||||||
Note 6 interest | $ 1,600 | ||||||||||||||||||
Note 6 principal and interest | $ 21,600 | ||||||||||||||||||
Note 6 Default Interest Rate | 12.00% | ||||||||||||||||||
Note 7 amount | $ 20,000 | ||||||||||||||||||
Note 7 interest rate | 8.00% | ||||||||||||||||||
Note 7 interest | $ 1,600 | ||||||||||||||||||
Note 7 principal and interest | $ 21,600 | ||||||||||||||||||
Note 7 Default Interest Rate | 12.00% | ||||||||||||||||||
Note 8 amount | $ 20,000 | ||||||||||||||||||
Note 8 interest rate | 8.00% | ||||||||||||||||||
Note 8 interest | $ 1,600 | ||||||||||||||||||
Note 8 principal and interest | $ 21,600 | ||||||||||||||||||
Note 8 Default Interest Rate | 12.00% | ||||||||||||||||||
Note 9 amount | $ 30,000 | ||||||||||||||||||
Note 9 Interest Rate | 8.00% | ||||||||||||||||||
Note 9 Interest | $ 2,400 | ||||||||||||||||||
Note 9 Principal and Interest | $ 32,400 | ||||||||||||||||||
Note 9 Default Interest Rate | 12.00% | ||||||||||||||||||
Note 10 Amount | $ 30,000 | ||||||||||||||||||
Note 10 Interest Rate | 8.00% | ||||||||||||||||||
Note 10 Interest | $ 2,400 | ||||||||||||||||||
Note 10 Principal And Interest | $ 32,400 | ||||||||||||||||||
Note 10 Default Interest Rate | 12.00% | ||||||||||||||||||
Note 11 Amount | $ 30,000 | ||||||||||||||||||
Note 11 Interest Rate | 8.00% | ||||||||||||||||||
Note 11 Interest | $ 2,400 | ||||||||||||||||||
Note 11 Principal and Interest | $ 32,400 | ||||||||||||||||||
Note 12 Amount | $ 20,000 | ||||||||||||||||||
Note 12 Interest Rate | 8.00% | ||||||||||||||||||
Note 12 Interest | $ 1,600 | ||||||||||||||||||
Note 12 Principal and Interest | $ 21,600 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) | 12 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Details | ||
Income Tax Expense (benefit) | $ (13,179) | $ (19,186) |
State Taxes | 100 | 100 |
Effect of rate changes on deferred tax assets and valuation allowance | 8,786 | 0 |
Non-deductible expenses | 4,274 | 0 |
Valuation allowance | 119 | 19,186 |
Provision for income taxes | 100 | 100 |
Net Operating Loss Carryforward | 59,010 | 119,946 |
Valutation allowance | (59,010) | (119,946) |
Total deferred tax asset | 0 | $ 0 |
NOL Carryforward | 281,000 | |
Change in valuation allowance | $ 60,936 |