Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Jun. 30, 2019 | Aug. 15, 2019 | |
Details | ||
Registrant CIK | 0001310630 | |
Fiscal Year End | --09-30 | |
Registrant Name | China Foods Holdings Ltd. | |
SEC Form | 10-Q | |
Period End date | Jun. 30, 2019 | |
Tax Identification Number (TIN) | 84-1735478 | |
Number of common stock shares outstanding | 5,252,309 | |
Filer Category | Non-accelerated Filer | |
Current with reporting | Yes | |
Interactive Data Current | Yes | |
Shell Company | true | |
Small Business | true | |
Emerging Growth Company | false | |
Entity File Number | 001-32522 | |
Entity Incorporation, State or Country Code | DE | |
Entity Address, Address Line One | Suite 3102, Everbright Center, 108 Gloucester Road | |
Entity Address, City or Town | Wanchai | |
Entity Address, Country | HK | |
Entity Address, Postal Zip Code | 00000 | |
City Area Code | 852 | |
Local Phone Number | 3618-8608 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q3 | |
Document Quarterly Report | true | |
Document Transition Report | false |
BALANCE SHEETS
BALANCE SHEETS - USD ($) | Jun. 30, 2019 | Sep. 30, 2018 |
CURRENT ASSETS | ||
Cash | $ 0 | $ 0 |
Prepaid expenses | 1,250 | 0 |
TOTAL CURRENT ASSETS | 1,250 | 0 |
TOTAL ASSETS | 1,250 | 0 |
CURRENT LIABILITIES | ||
Accrued expenses | 5,133 | 3,959 |
Income taxes payable | 100 | 100 |
Amount due to a related party | 87,858 | 14,000 |
TOTAL CURRENT LIABILITIES | 93,091 | 18,059 |
LONG-TERM LIABILITIES | ||
TOTAL LIABILITIES | 93,091 | 18,059 |
STOCKHOLDERS' DEFICIT | ||
Common stock $0.0001 par value, 100,000,000 shares authorized, 5,252,309 shares issued and outstanding | 525 | 137,413 |
Additional paid-in capital | 136,988 | 0 |
Other reserve | 350,547 | 350,547 |
Accumulated deficit | (579,901) | (506,019) |
TOTAL STOCKHOLDERS' DEFICIT | (91,841) | (18,059) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 1,250 | $ 0 |
BALANCE SHEETS - Parenthetical
BALANCE SHEETS - Parenthetical - $ / shares | Jun. 30, 2019 | Sep. 30, 2018 |
Details | ||
Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 |
Common Stock, Shares Authorized | 100,000,000 | 100,000,000 |
Common Stock, Shares, Issued | 5,252,309 | 5,252,309 |
Common Stock, Shares, Outstanding | 5,252,309 | 5,252,309 |
Statements of Operations
Statements of Operations - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Details | ||||
Income | $ 0 | $ 0 | $ 0 | $ 0 |
Cost of Sales | 0 | 0 | 0 | 0 |
Gross Profit | 0 | 0 | 0 | 0 |
Operating expenses: | ||||
General and administrative | 44,643 | 10,430 | 73,882 | 25,066 |
Total operating expenses | 44,643 | 10,430 | 73,882 | 25,066 |
Operating loss | (44,643) | (10,430) | (73,882) | (25,066) |
Interest expense to a related party | 0 | (7,050) | 0 | (20,350) |
Loss before income taxes | (44,643) | (17,480) | (73,882) | (45,416) |
Provision for income taxes | 0 | 0 | 0 | 0 |
Net loss | $ (44,643) | $ (17,480) | $ (73,882) | $ (45,416) |
Net loss per common share Basic and diluted | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted average number of common shares outstanding basic and diluted | 5,252,309 | 5,251,309 | 5,252,309 | 5,251,309 |
Statement of Stockholders' Defi
Statement of Stockholders' Deficit - USD ($) | Common Stock | Additional Paid-in Capital | Other Additional Capital | Retained Earnings | Total |
Shares, Outstanding | 5,251,309 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 137,413 | $ 0 | $ 0 | $ (443,261) | $ (305,848) |
Shares, Outstanding, Beginning Balance at Sep. 30, 2017 | 5,251,309 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Sep. 30, 2017 | $ 137,413 | 0 | 0 | (443,261) | (305,848) |
Shares, Outstanding | 5,251,309 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 137,413 | 0 | 0 | (443,261) | (305,848) |
Net loss | $ 0 | 0 | 0 | (12,651) | (12,651) |
Shares, Outstanding, Ending Balance at Dec. 31, 2017 | 5,251,309 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Dec. 31, 2017 | $ 137,413 | 0 | 0 | (455,912) | (318,499) |
Shares, Outstanding, Beginning Balance at Sep. 30, 2017 | 5,251,309 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Sep. 30, 2017 | $ 137,413 | 0 | 0 | (443,261) | (305,848) |
Shares, Outstanding | 5,251,309 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 137,413 | 0 | 0 | (443,261) | (305,848) |
Net loss | (45,416) | ||||
Shares, Outstanding, Ending Balance at Jun. 30, 2018 | 5,251,309 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Jun. 30, 2018 | $ 137,413 | 0 | 0 | (488,678) | (351,265) |
Shares, Outstanding | 5,251,309 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 137,413 | 0 | 0 | (455,912) | (318,499) |
Shares, Outstanding, Beginning Balance at Dec. 31, 2017 | 5,251,309 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Dec. 31, 2017 | $ 137,413 | 0 | 0 | (455,912) | (318,499) |
Shares, Outstanding | 5,251,309 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 137,413 | 0 | 0 | (455,912) | (318,499) |
Net loss | $ 0 | 0 | 0 | (15,286) | (15,286) |
Shares, Outstanding, Ending Balance at Mar. 31, 2018 | 5,251,309 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Mar. 31, 2018 | $ 137,413 | 0 | 0 | (471,198) | (333,785) |
Shares, Outstanding | 5,251,309 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 137,413 | 0 | 0 | (471,198) | (333,785) |
Shares, Outstanding | 5,251,309 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 137,413 | 0 | 0 | (471,198) | (333,785) |
Net loss | $ 0 | 0 | 0 | (17,480) | (17,480) |
Shares, Outstanding, Ending Balance at Jun. 30, 2018 | 5,251,309 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Jun. 30, 2018 | $ 137,413 | 0 | 0 | (488,678) | (351,265) |
Shares, Outstanding | 5,251,309 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 137,413 | 0 | 0 | (488,678) | (351,265) |
Shares, Outstanding | 5,251,309 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 137,413 | 0 | 350,547 | (506,019) | (18,059) |
Shares, Outstanding, Beginning Balance at Sep. 30, 2018 | 5,251,309 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Sep. 30, 2018 | $ 137,413 | 0 | 350,547 | (506,019) | (18,059) |
Shares, Outstanding | 5,251,309 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 137,413 | 0 | 350,547 | (506,019) | (18,059) |
Net loss | $ 0 | 0 | 0 | (5,766) | (5,766) |
Shares, Outstanding, Ending Balance at Dec. 31, 2018 | 5,251,309 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Dec. 31, 2018 | $ 137,413 | 0 | 350,547 | (511,785) | (23,825) |
Shares, Outstanding, Beginning Balance at Sep. 30, 2018 | 5,251,309 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Sep. 30, 2018 | $ 137,413 | 0 | 350,547 | (506,019) | (18,059) |
Shares, Outstanding | 5,251,309 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 137,413 | 0 | 350,547 | (506,019) | (18,059) |
Net loss | (73,882) | ||||
Shares, Outstanding, Ending Balance at Jun. 30, 2019 | 5,252,309 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Jun. 30, 2019 | $ 525 | 136,988 | 350,547 | (579,901) | (91,841) |
Shares, Outstanding | 5,251,309 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 137,413 | 0 | 350,547 | (511,785) | (23,825) |
Shares, Outstanding, Beginning Balance at Dec. 31, 2018 | 5,251,309 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Dec. 31, 2018 | $ 137,413 | 0 | 350,547 | (511,785) | (23,825) |
Merger transaction | $ (136,888) | 136,988 | 0 | 0 | 100 |
Shares, Outstanding | 5,251,309 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 137,413 | 0 | 350,547 | (511,785) | (23,825) |
Net loss | $ 0 | 0 | 0 | (23,473) | (23,473) |
Shares, Outstanding, Ending Balance at Mar. 31, 2019 | 5,252,309 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Mar. 31, 2019 | $ 525 | 136,988 | 350,547 | (535,258) | (47,198) |
Shares, Outstanding | 5,252,309 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 525 | 136,988 | 350,547 | (535,258) | (47,198) |
Merger transaction | 1,000 | ||||
Shares, Outstanding | 5,252,309 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 525 | 136,988 | 350,547 | (535,258) | (47,198) |
Net loss | $ 0 | 0 | 0 | (44,643) | (44,643) |
Shares, Outstanding, Ending Balance at Jun. 30, 2019 | 5,252,309 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Jun. 30, 2019 | $ 525 | 136,988 | 350,547 | (579,901) | (91,841) |
Shares, Outstanding | 5,252,309 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 525 | $ 136,988 | $ 350,547 | $ (579,901) | $ (91,841) |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 9 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Cash flows from operating activities: | ||
Net loss | $ (73,882) | $ (45,416) |
Increase in accrued expenses | 1,174 | 4,000 |
(Increase) decrease in prepaid expenses | (1,250) | 2,499 |
Increase in Interest payable | 0 | 20,350 |
Decrease in income taxes payable | 0 | (100) |
Increase in amount due to a related party | 73,958 | 0 |
Net cash used in operating activities | 0 | (18,667) |
Cash flows from investing activities | 0 | 0 |
NET CASH FROM FINANCING ACTIVITIES: | ||
Net cash provided by financing activites | 0 | 20,000 |
Proceeds from issuance of notes payable, related party | 0 | 20,000 |
Net decrease in cash and cash equivalents | 0 | 1,333 |
CASH, at beginning of period | 0 | 15,140 |
CASH, at end of period | 0 | 16,473 |
Supplemental disclosure of cash flow information | ||
Interest paid | 0 | 0 |
Taxes paid | $ 100 | $ 100 |
Nature of Operations and Basis
Nature of Operations and Basis of Presentation | 9 Months Ended |
Jun. 30, 2019 | |
Notes | |
Nature of Operations and Basis of Presentation | NOTE 1 NATURE OF OPERATIONS AND BASIS OF PRESENTATION China Foods Holdings Ltd. (the "Company") was incorporated in Delaware on January 10, 2019. On January 23, 2019, the Company entered into an Agreement and Plan of Merger (the Agreement) with Trafalgar Resources, Inc., a Utah corporation (Trafalgar). Pursuant to the Agreement, the Company merged with Trafalgar (the Merger) with the Company as the surviving entity. Prior to the Merger, Trafalgar had not commenced operations that had resulted in significant revenue and Trafalgars efforts had been devoted primarily to activities related to raising capital and attempting to acquire an operating entity. Prior to the Merger, Trafalgars majority stockholder who owns 5,000,000 Pursuant to the Merger, each share of Trafalgars common stock was converted into one share of the Companys common stock. After the Merger, HY (HK) Financial Investments Co, Ltd. owns 5,000,000 shares of common stock of the Company. The Merger was effective on March 13, 2019. Basis of Presentation The unaudited condensed financial statements present the balance sheets, statements of operations, statements of shareholders' deficit and statements of cash flows of the Company. These unaudited condensed financial statements are presented in the United States dollars and have been prepared in accordance with accounting principles generally accepted in the United States. Unaudited Financial Statements The accompanying unaudited condensed financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission, or the SFC, including the instruction to Form 10-Q and Article 8 of Regulation S-X. In the opinion of Management, all adjustments, which are of a normal recurring nature, necessary for a fair presentation of the results for the nine months ended June 30, 2019, have been made. Operating results for the nine months ended June 30, 2019 are not necessarily indicative of the results that may be expected for the year ending September 30, 2019. They do not include all of the information and footnotes required by United States generally accepted accounting principles for complete financial statements. NOTE 2 SIGNIFICANT ACCOUTING POLICIES 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 June 30, 2019. Income Taxes The Company accounts for income taxes pursuant to FASB ASC 740-10-05, Accounting for Income Taxes. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets will be reflected on the balance sheet when it is determined that it is more likely than not that the asset will be realized. A valuation allowance has currently been recorded to reduce our deferred tax asset to $0. Fair Value of Financial Instruments The Company estimates the fair value of financial instruments using the available market information and valuation methods. The Companys financial instruments consist of accounts payable and amount due to a related party. The carrying amount of these financial instruments approximated fair value due to the length of maturity or interest rates that approximate prevailing market rates. Use of estimates The presentation of financial statements and related disclosures in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities. Certain significant accounting policies that contain subjective management estimates and assumptions include those related to going concern and valuation allowance on deferred income tax. Operating results in the future could vary from the amounts derived from managements estimates or assumptions. Recently Issued Accounting Pronouncements The Company has reviewed Accounting Standards Updates (ASU) through ASU No. 2018-05, which contain technical corrections to existing guidance or affect guidance to specialized industries or entities were recently issued. These updates have no current applicability to the Company or their effect on the financial statements would not have been significant. From time to time, new accounting pronouncements are issued by the FASB or other standard setting bodies that are 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 the Company's financial position or results of operations upon adoption. |
Going Concern
Going Concern | 9 Months Ended |
Jun. 30, 2019 | |
Notes | |
Going Concern | NOTE 3 - GOING CONCERN As shown in the accompanying financial statements, the Company had a deficit working capital and an accumulated deficit incurred through June 30, 2019 which raise substantial doubt about the Companys ability to continue as a going concern. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary in the event the Company cannot continue in existence. Management intends to seek new capital from a related party to provide needed funds. |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Jun. 30, 2019 | |
Notes | |
Related Party Transactions | NOTE 4: RELATED PARTY TRANSACTIONS All the twelve notes owed to Anthony Brandon Escobar, the former president of the Company (the Former President), have been waived during the year ended September 30, 2018. An aggregated principal and interest of $ $350,547 has been waived, while the Former President closed Company bank accounts and drew the cash $13,392. |
Income Taxes
Income Taxes | 9 Months Ended |
Jun. 30, 2019 | |
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 carry forwards 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 period ended June 30, 2019 differs from the amount computed using the federal statutory rates as follows: Nine months Ended June 30, 2019 Nine months Ended June 30, 2018 Income tax expense (benefit) at Federal tax rate of 21% for 2018 and 35% for 2017 $ (15,515) $ (11,225) Effect of rate changes on deferred tax assets and valuation allowance - 6,358 Valuation allowance 15,515 4,867 Total - - 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 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 quarter ended June 30, 2019 are comprised primarily of the following: June 30, 2019 Net Operating Loss Carryforward 74,574 Valuation Allowance (74,574) Total deferred tax asset $ - At June 30, 2019, the Companys had a net operating loss carry forward of approximately $389,900 that may be offset against future taxable income through 2038. 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 period ended June 30, 2019 by approximately $6,358. Deferred tax assets related to operating loss carryforwards increased approximately $48,816 and related party interest decreased by approximately $20,350, respectively, due to the Tax Act. |
Nature of Operations and Basi_2
Nature of Operations and Basis of Presentation (Policies) | 9 Months Ended |
Jun. 30, 2019 | |
Policies | |
Basis of Presentation | Basis of Presentation The unaudited condensed financial statements present the balance sheets, statements of operations, statements of shareholders' deficit and statements of cash flows of the Company. These unaudited condensed financial statements are presented in the United States dollars and have been prepared in accordance with accounting principles generally accepted in the United States. Unaudited Financial Statements The accompanying unaudited condensed financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission, or the SFC, including the instruction to Form 10-Q and Article 8 of Regulation S-X. In the opinion of Management, all adjustments, which are of a normal recurring nature, necessary for a fair presentation of the results for the nine months ended June 30, 2019, have been made. Operating results for the nine months ended June 30, 2019 are not necessarily indicative of the results that may be expected for the year ending September 30, 2019. They do not include all of the information and footnotes required by United States generally accepted accounting principles for complete financial statements. |
Net Loss Per Share of Common Stock | NOTE 2 SIGNIFICANT ACCOUTING POLICIES 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 June 30, 2019. |
Income Taxes | Income Taxes The Company accounts for income taxes pursuant to FASB ASC 740-10-05, Accounting for Income Taxes. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets will be reflected on the balance sheet when it is determined that it is more likely than not that the asset will be realized. A valuation allowance has currently been recorded to reduce our deferred tax asset to $0. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The Company estimates the fair value of financial instruments using the available market information and valuation methods. The Companys financial instruments consist of accounts payable and amount due to a related party. The carrying amount of these financial instruments approximated fair value due to the length of maturity or interest rates that approximate prevailing market rates. |
Use of Estimates | Use of estimates The presentation of financial statements and related disclosures in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities. Certain significant accounting policies that contain subjective management estimates and assumptions include those related to going concern and valuation allowance on deferred income tax. Operating results in the future could vary from the amounts derived from managements estimates or assumptions. |
New Accounting Pronouncements | Recently Issued Accounting Pronouncements The Company has reviewed Accounting Standards Updates (ASU) through ASU No. 2018-05, which contain technical corrections to existing guidance or affect guidance to specialized industries or entities were recently issued. These updates have no current applicability to the Company or their effect on the financial statements would not have been significant. From time to time, new accounting pronouncements are issued by the FASB or other standard setting bodies that are 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 the Company's financial position or results of operations upon adoption. |
Income Taxes (Tables)
Income Taxes (Tables) | 9 Months Ended |
Jun. 30, 2019 | |
Tables/Schedules | |
Schedule of Components of Income Tax Expense (Benefit) | Nine months Ended June 30, 2019 Nine months Ended June 30, 2018 Income tax expense (benefit) at Federal tax rate of 21% for 2018 and 35% for 2017 $ (15,515) $ (11,225) Effect of rate changes on deferred tax assets and valuation allowance - 6,358 Valuation allowance 15,515 4,867 Total - - |
Schedule of Deferred Tax Assets and Liabilities | June 30, 2019 Net Operating Loss Carryforward 74,574 Valuation Allowance (74,574) Total deferred tax asset $ - |
Nature of Operations and Basi_3
Nature of Operations and Basis of Presentation (Details) - USD ($) | 9 Months Ended | ||
Jun. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | |
Details | |||
Majority Stockholder Shares | 5,000,000 | ||
Common Stock, Shares, Outstanding | 5,252,309 | 5,251,309 | 5,252,309 |
Deferred Tax Assets, Valuation Allowance, Current | $ 0 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) | 9 Months Ended | |
Jun. 30, 2019 | Sep. 30, 2018 | |
Details | ||
Other reserve | $ 350,547 | $ 350,547 |
Related Party Transaction, Amounts of Transaction | $ 13,392 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Details | ||||
Income Tax Expense (benefit) | $ (15,515) | $ (11,225) | ||
Effect of rate changes on deferred tax assets and valuation allowance | 0 | 6,358 | ||
Valuation allowance | $ 6,358 | 15,515 | 4,867 | |
Provision for income taxes | 0 | $ 0 | 0 | 0 |
Net Operating Loss Carryforward | 74,574 | 74,574 | ||
Valutation allowance | (74,574) | (74,574) | ||
Total deferred tax asset | 0 | 0 | ||
NOL Carryforward | 389,900 | |||
Change in valuation allowance | $ 48,816 | 48,816 | ||
Increase in Interest payable | $ 0 | $ 20,350 |