Document and Entity Information
| Document and Entity Information - shares | 3 Months Ended | |
| Jul. 31, 2018 | Sep. 10, 2018 | |
| Document And Entity Information | ||
| Entity Registrant Name | DIAMOND CARTEL INC | |
| Entity Central Index Key | 1,347,491 | |
| Document Type | 10-Q | |
| Document Period End Date | Jul. 31, 2018 | |
| Amendment Flag | false | |
| Current Fiscal Year End Date | --04-30 | |
| Entity Filer Category | Smaller Reporting Company | |
| Entity Common Stock, Shares Outstanding | 895,750 | |
| Document Fiscal Period Focus | Q1 | |
| Document Fiscal Year Focus | 2,019 |
Balance Sheets (Unaudited)
| Balance Sheets (Unaudited) - USD ($) | Jul. 31, 2018 | Apr. 30, 2018 |
| ASSETS | ||
| Total Assets | $ 0 | $ 0 |
| Current Liabilities | ||
| Account payable and accrued liabilities | 9,907 | 28,936 |
| Due to related party | 40,968 | 41,049 |
| Advances payable | 25,485 | |
| Total Liabilities | 76,360 | 69,985 |
| Stockholders' Deficit | ||
| Preferred stock value | ||
| Common stock, 200,000,000 shares authorized, $0.0001 par value; 895,750 shares issued and outstanding at July 31, 2018 and April 30, 2018 | 90 | 90 |
| Additional paid-in capital | 454,126 | 454,126 |
| Accumulated deficit | (530,576) | (524,201) |
| Total Stockholders' Deficit | (76,360) | (69,985) |
| Total Liabilities and Stockholders' Deficit | 0 | 0 |
| Series A Preferred Stock [Member] | ||
| Stockholders' Deficit | ||
| Preferred stock value |
Balance Sheets (Unaudited) (Par
| Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Jul. 31, 2018 | Apr. 30, 2018 |
| Preferred stock, shares authorized | 946,000 | 946,000 |
| Preferred stock, par value | $ 0.001 | $ 0.001 |
| Preferred stock, shares issued | ||
| Preferred stock, shares outstanding | ||
| Common stock, shares authorized | 200,000,000 | 200,000,000 |
| Common stock, par value | $ 0.0001 | $ 0.0001 |
| Common stock, shares issued | 895,750 | 895,750 |
| Common stock, shares outstanding | 895,750 | 895,750 |
| Series A Preferred Stock [Member] | ||
| Preferred stock, shares authorized | 54,000 | 54,000 |
| Preferred stock, par value | $ 0.001 | $ 0.001 |
| Preferred stock, shares issued | 0.48 | 0.48 |
| Preferred stock, shares outstanding | 0.48 | 0.48 |
Statements of Operations (Unaud
| Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
| Jul. 31, 2018 | Jul. 31, 2017 | |
| Income Statement [Abstract] | ||
| Revenue | ||
| Expenses | ||
| General and administrative | 6,375 | 4,265 |
| Net Loss | $ (6,375) | $ (4,265) |
| Net Loss Per Common Share - Basic and Diluted | $ (0.01) | $ 0 |
| Weighted Average Number of Common Shares Outstanding | 895,750 | 895,750 |
Statements of Cash Flows (Unaud
| Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
| Jul. 31, 2018 | Jul. 31, 2017 | |
| Operating Activities: | ||
| Net loss | $ (6,375) | $ (4,265) |
| Items not involving cash: | ||
| Foreign exchange gain on amount due to related party | (81) | |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses | (222) | |
| Accounts payable and accrued liabilities | 6,456 | (5,056) |
| Net Cash Used in Operating Activities | (9,543) | |
| Financing Activities: | ||
| Proceeds of loan from related party | 9,543 | |
| Net Cash Provided by Financing Activities | 9,543 | |
| Change in Cash | ||
| Cash - Beginning of Period | ||
| Cash - End of Period | ||
| Supplemental Disclosures: | ||
| Interest paid | ||
| Income taxes paid | ||
Business Description
| Business Description | 3 Months Ended |
| Jul. 31, 2018 | |
| Accounting Policies [Abstract] | |
| Business Description | 1. Business Description The Diamond Cartel Inc. (the “Company”) was incorporated in the State of Delaware on August 17, 2005. The Company is a Blank Check Company which plans to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business with one or more businesses. |
Going Concern
| Going Concern | 3 Months Ended |
| Jul. 31, 2018 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Going Concern | 2. Going Concern These financial statements have been prepared on a going concern basis, which contemplates the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The Company has never generated revenue since inception. As of July 31, 2018, the Company has a working capital deficiency of $76,360 and has accumulated losses of $530,576 since inception. These factors, among others, raise substantial doubt regarding the Company’s ability to continue as a going concern. The continuation of the Company as a going concern is dependent upon the continued financial support from its stockholders, the ability of the Company to obtain necessary equity financing to continue operations. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. The Company intends to fund its activities through debt and equity financing arrangements. There is no assurance that the Company will obtain the necessary financing to complete its objectives. |
Summary of Significant Accounti
| Summary of Significant Accounting Policies | 3 Months Ended |
| Jul. 31, 2018 | |
| Accounting Policies [Abstract] | |
| Summary of Significant Accounting Policies | 3. Summary of Significant Accounting Policies a) Basis of 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 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 at July 31, 2018 and the results of operations and cash flows for the periods presented. The results of operations for the three months ended July 31, 2018 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 elsewhere in this filing for the years ended April 30, 2018 and 2017. The Company has an April 30 year-end. b) Use of Estimates The preparation of financial statements in accordance with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses in the reporting period. The Company regularly evaluates estimates and assumptions related to deferred income tax asset valuations. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. c) Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
Related Party Transactions and
| Related Party Transactions and Balances | 3 Months Ended |
| Jul. 31, 2018 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions and Balances | 4. Related Party Transactions and Balances As at July 31, 2018 and April 30, 2018, the Company is indebted to the President of the Company for $40,968 and $41,049, respectively, for expenses incurred on behalf of the Company. The amount is non-interest bearing, unsecured, and due on demand. |
Subsequent Events
| Subsequent Events | 3 Months Ended |
| Jul. 31, 2018 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | 5. Subsequent Events Management has evaluated subsequent events through the date that these financial statements were available to be issued. There have been no events that would require adjustment to or disclosure in the financial statements. |
Summary of Significant Accoun11
| Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
| Jul. 31, 2018 | |
| Accounting Policies [Abstract] | |
| Basis of Presentation | a) Basis of 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 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 at July 31, 2018 and the results of operations and cash flows for the periods presented. The results of operations for the three months ended July 31, 2018 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 elsewhere in this filing for the years ended April 30, 2018 and 2017. The Company has an April 30 year-end. |
| Use of Estimates | b) Use of Estimates The preparation of financial statements in accordance with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses in the reporting period. The Company regularly evaluates estimates and assumptions related to deferred income tax asset valuations. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. |
| Recent Accounting Pronouncements | c) Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
Going Concern (Details Narrativ
| Going Concern (Details Narrative) - USD ($) | 3 Months Ended | ||
| Jul. 31, 2018 | Jul. 31, 2017 | Apr. 30, 2018 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
| Revenues | |||
| Working capital deficiency | 76,360 | ||
| Accumulated losses | $ (530,576) | $ (524,201) | |
Related Party Transactions an13
| Related Party Transactions and Balances (Details Narrative) - USD ($) | Jul. 31, 2018 | Apr. 30, 2018 |
| Due to related party | $ 40,968 | $ 41,049 |
| President [Member] | ||
| Due to related party | $ 40,968 | $ 41,049 |