Regenerex Pharma (RGPX) 10-Q 11 Feb 21 2020 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Dec. 31, 2020	Feb. 12, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Dec. 31, 2020
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2020
Current Fiscal Year End Date	--03-31
Entity File Number	000-53230
Entity Registrant Name	PEPTIDE TECHNOLOGIES, INC.
Entity Central Index Key	0001357878
Entity Tax Identification Number	32-0535345
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	5348 Vegas Drive #177
Entity Address, City or Town	Las Vegas
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89108
City Area Code	702
Local Phone Number	805-7525
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		127,112,660

Balance Sheets

Balance Sheets - USD ($)	Dec. 31, 2020	Mar. 31, 2020
Current Assets
Cash and cash equivalents	$ 1,721	$ 5,460
Inventories	247,930	246,691
Total Current Assets	249,651	252,151
Website, net of accumulated amortization of $18,646 and $14,984 at December 31, 2020 and March 31, 2020, respectively	2,849	7,016
Total Assets	252,500	259,167
Current Liabilities
Accounts payable	58,518	51,098
Related-party advances	130,992	130,992
Accrued compensation	221,192	221,192
Other accrued liabilities	64,771	45,436
Current portion of notes payable to shareholder	209,127	70,000
Total Current Liabilities	684,600	518,718
Notes Payable to shareholder, net of current portion	118,446	221,723
Total Liabilities	803,046	740,441
Stockholders' Deficit
Common stock: $0.001 par value: 675,000,000 shares authorized: 127,112,660 issued and outstanding at December 31, 2020 and March 31, 2020	127,113	127,113
Additional paid-in capital	776,963	776,963
Accumulated deficit	(1,454,622)	(1,385,350)
Total Stockholders' Deficit	(550,546)	(481,274)
Total Liabilities and Stockholders' Deficit	$ 252,500	$ 259,167

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - USD ($)	Dec. 31, 2020	Mar. 31, 2020
Statement of Financial Position [Abstract]
Accumulated Amortization, Website	$ 18,646	$ 14,984
Common stock par value	$ 0.001	$ 0.001
Common stock, shares authorized	675,000,000	675,000,000
Common stock, shares issued	127,112,660	127,112,660
Common stock, shares outstanding	127,112,660	127,112,660

Statements of Operations

Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
Sales	$ 181	$ 1,671	$ 378	$ 1,671
Cost of Sales	364	194	406	194
Gross Profit (Loss)	(183)	1,477	(28)	1,477
Operating Expenses
General and administrative	12,103	12,535	33,228	40,745
Sales and marketing	1,966	1,570	3,056	16,103
Total Operating Expenses	14,069	14,105	36,284	56,848
Operating Loss	(14,252)	(12,628)	(36,312)	(55,371)
Other Income (Expense):
Interest expense	(11,203)	(8,028)	(31,335)	(17,917)
Foreign currency gain	(8,228)	102	(1,624)	1,995
Total Other Income (Expense)	(19,431)	(7,926)	(32,959)	(15,922)
Net Loss	$ (33,683)	$ (20,554)	$ (69,271)	$ (71,293)
Basic and Diluted Loss per Common Share	$ 0	$ 0	$ 0	$ 0
Weighted Average Number of Common Shares Outstanding	127,112,660	127,112,660	127,112,660	127,112,660

Statements of Cash Flows

Statements of Cash Flows - USD ($)	9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash Flows From Operating Activities:
Net loss	$ (69,271)	$ (71,293)
Adjustments to reconcile net loss to cash flows used in operating activities
Depreciation	4,167	4,018
Foreign currency adjustments	1,624
Changes in operating assets and liabilities:
Inventories	406	(124,226)
Prepaid expenses	(1,645)	(114,325)
Accounts payable and accrued liabilities	27,168	84,866
Net cash flows used in operating activities	(37,552)	(220,960)
Cash Flows From Investing Activities:
Website development
Net cash used for investing activities
Cash Flows From Financing Activities:
Related-party advances		2
Proceeds from notes payable to shareholder	33,813	135,549
Net cash provided by financing activities	33,813	135,551
(Decrease) Increase in cash and equivalents	(3,739)	(85,409)
Cash and cash equivalents, beginning of period	5,460	88,546
Cash and cash equivalents, end of period	1,721	3,137
Supplemental Cash Flow Information
Income Taxes
Interest

Statements of Stockholders' Def

Statements of Stockholders' Deficit - USD ($)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Balance at Mar. 31, 2019	$ 127,113	$ 776,963	$ (1,273,761)	$ (369,685)
Balance (in Shares) at Mar. 31, 2019	127,112,660
Net Loss			(50,739)	(50,739)
Balance at Sep. 30, 2019	$ 127,113	776,963	(1,324,500)	(420,424)
Balance (in Shares) at Sep. 30, 2019	127,112,660
Net Loss			(20,554)	(20,554)
Balance at Dec. 31, 2019	$ 127,113	776,963	(1,345,054)	(440,978)
Balance (in Shares) at Dec. 31, 2019	127,112,660
Balance at Mar. 31, 2020	$ 127,113	776,963	(1,385,350)	$ (481,274)
Balance (in Shares) at Mar. 31, 2020	127,112,660			127,112,660
Net Loss			(35,589)	$ (35,589)
Balance at Sep. 30, 2020	$ 127,113	776,963	(1,420,939)	(516,863)
Balance (in Shares) at Sep. 30, 2020	127,112,660
Net Loss			(33,683)	(33,683)
Balance at Dec. 31, 2020	$ 127,113	$ 776,963	$ (1,454,622)	$ (550,546)
Balance (in Shares) at Dec. 31, 2020	127,112,660			127,112,660

Nature Of Operations

Nature Of Operations	9 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature Of Operations	NOTE 1 – NATURE OF OPERATIONS Peptide Technologies, Inc., (the “Company” or “Peptide”), was incorporated in the State of Nevada, United States of America, on November 18, 2005. The Company’s business is to develop and market proprietary skincare products which is sold online. The majority of manufacturing, distribution, marketing, and sales operations is outsourced; however, strategic planning and development is performed internally by management. Risks and Uncertainties We received our first inventory during the last week of October 2019. Our launch date at that time was set for December 2019, as we were in continuous negotiations and discussion with social media marketing groups and influencers. We had commenced modest sales. We then expected to launch our marketing campaign during the first quarter of 2020. Due to the COCID-19 pandemic, our sales launch was delayed, and our second launch slated for July 2020 was further delayed which continued for the remainder of 2020. The Company has negotiated and entered into a verbal agreement with a social media marketing and influencer group which commenced February 2021. Their remuneration will be forty (40) percent of the completed sales. The terms of this verbal agreement will be reviewed and renegotiated at the end of July 2021. Our business and our forward-looking statements involve substantial known and unknown risks and uncertainties, including the risks and uncertainties inherent in our statements regarding the impacts of COVID-19, or other future pandemics on our business, results of operations, financial position, and cash flows.

Basis Of Presentation Of Interi

Basis Of Presentation Of Interim Financial Statements	9 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Basis Of Presentation Of Interim Financial Statements	NOTE 2 – BASIS OF PRESENTATION OF INTERIM FINANCIAL STATEMENTS The Company prepares its financial statements in accordance with accounting principles generally accepted in the United States of America. The accompanying interim unaudited financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X. In our opinion, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the nine months ended December 31, 2020 are not necessarily indicative of the results that may be expected for the year ending March 31, 2021. Notes to the unaudited interim financial statements that would substantially duplicate the disclosures contained in the audited financial statements for the year ended March 31, 2020 have been omitted. This report should be read in conjunction with the audited financial statements and the footnotes thereto for the fiscal year ended March 31, 2020 included within the Company’s Annual Report on Form 10-K as filed with the Securities and Exchange Commission.

Going Concern

Going Concern	9 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern	NOTE 3 – GOING CONCERN These financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”), which contemplate the continuation of the Company as a going concern. The Company has incurred losses from operations, and as of December 31, 2020, it had excess liabilities over assets of $550,546. These factors raise substantial doubt about the Company’s ability to continue as a going concern. Management’s plans are to actively seek capital to enable the Company to add new products and/or services to ultimately achieve profitability. However, management cannot provide assurance that they can raise sufficient capital and whether the Company will ultimately achieve profitability, become cash flow positive, or raise additional debt and/or equity capital. If the Company is unable to raise additional capital in the near future or meet financing requirements, management expects that the Company will need to curtail operations, seek additional capital on less favorable terms, and/or pursue other remedial measures. These financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company become unable to continue as a going concern.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Significant Accounting Policies	NOTE 4 –SIGNIFICANT ACCOUNTING POLICIES Revenue Recognition We offer skincare products through our online store. Revenues are recognized gross when control of our goods are transferred to the customer, which generally occurs upon delivery to the customer. At the time an order is accepted, prices are fixed and determinable and are not subject to adjustment. We do not offer refunds, returns or exchanges. All sales are final. The Company defers revenue where the earnings process is not yet complete. Inventories Inventory of retail merchandise is valued at the lower of cost and net realizable value with a cost being determined on a first-in, first out method. Costs includes all costs of manufacturing the product, packaging, cost of conversion and other costs incurred in bringing the inventory to its present condition and location. Website Expenditures related to the planning and operation of the Company’s website are expensed as incurred. Expenditures related to the website application and infrastructure development are capitalized and amortized over the website’s estimated useful life of three (3) years. Amortization expense for the three and nine months ended December 31, 2020 and 2019 was $504 and $4,167 and $1,848 and $5,163, respectively. Recent Accounting Pronouncements The Financial Accounting Standards Board issued Accounting Standards Updates (“ASU”) to amend the authoritative literature in the Accounting Standards Codification (“ASC”). There have been a number of ASUs to date that amend the original text of the ASC. The Company believes those updates issued-to-date either (i) provide supplemental guidance, (ii) are technical corrections, (iii) are not applicable to the Company, or (iv) are not expected to have a significant impact on the Company.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 5 – RELATED PARTY TRANSACTIONS Related Party Advances The Company’s former Chief Financial Officer (“CFO”) had advanced the Company monies for operating expenses; no significant amounts were advanced during the periods presented. The related party advances totaled $130,992 as of December 31, 2020 and March 31, 2020, and the advances are due on demand. The related party advances began to accrue interest at ten (10) percent per annum on July 1, 2019. Repayment is due no later than June 30, 2021. Interest expense was $9,869 and $6,603 during the nine-month periods ended December 31, 2020 and 2019, respectively. Note Payable to Shareholder During the year ended March 31, 2019, Black Star Holdings Ltd. (“Black Star”), a shareholder of the Company, was issued a promissory note in the principal amount of $70,000. The note is unsecured and bears interest at ten (10) percent, per annum. Repayment of this note is due no later than February 19, 2021. During the year ended March 31, 2020, Black Star was issued eight (8) additional promissory notes totaling $214,091. The notes are unsecured and bear interest at ten (10) percent per annum with principal and interest due twenty four (24) months after the date of issue. During the six-month period ended September 30, 2020, Black Star was issued additional promissory notes totaling $20,076. These notes are unsecured and bear interest at ten (10) percent per annum with principal and interest due twenty four (24) months after the date if issue. During the three-month period ended December 31, 2020, on October 23, 2020, Black Star Holdings was issued an additional promissory note in the principal amount of $10,245 ($13,500 Canadian Funds). This note is unsecured and bears interest at ten (10) percent per annum. Repayment of this note is due no later than October 23, 2022. On November 12, 2020, Black Star Holdings was issued an additional promissory note in the principal amount of $1,074. This note is unsecured and bears interest at ten (10) percent per annum. Repayment of this note is due no later than November 12, 2022. On November 16, 2020, Black Star Holdings was issued an additional promissory note in the principal amount of $765 ($1,000 Canadian Funds). This note is unsecured and bears interest at ten (10) percent per annum. Repayment of this note is due no later than November 16, 2022. On December 7, 2020, Black Star Holdings was issued an additional promissory note in the principal amount of $1,954 ($2,500 Canadian Funds). This note is unsecured and bears interest at ten (10) percent per annum. Repayment of this note is due no later than December 7, 2022. On December 22, 2020, Black Star Holdings was issued an additional promissory note in the principal amount of $1,551 ($2,000 Canadian Funds). This note is unsecured and bears interest at ten (10) percent per annum. Repayment of this note is due no later than December 22, 2022. On December 30, 2020, Black Star Holdings was issued an additional promissory note in the principal amount of $392 ($500 Canadian Funds). This note is unsecured and bears interest at ten (10) percent per annum. Repayment of this note is due no later than December 30, 2022. Accrued interest was $21,466 and $11,314 as of December 31, 2020 and, 2019 respectively, which is included in other accrued liabilities.

Commitments And Contingencies

Commitments And Contingencies	9 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments And Contingencies	NOTE 6 – COMMITMENTS AND CONTINGENCIES The Company is not currently involved with and does not have knowledge of any pending or threatened litigation against the Company or any of its officers.

Subsequent Events

Subsequent Events	9 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	NOTE 7 – SUBSEQUENT EVENTS Subsequent to the nine-month period ended December 31, 2020, On January 4, 2021, Black Star Holdings was issued an additional promissory note in the principal amount of $392 ($500.00 Canadian). This note is unsecured and bears interest at ten (10) percent per annum. Repayment of this note is due no later than January 4, 2024. On January 5, 2021, Black Star Holdings was issued an additional promissory note in the principal amount of $395 ($500 Canadian Funds). This note is unsecured and bears interest at ten (10) percent per annum. Repayment of this note is due no later than January 5, 2023. On January 11, 2021, Black Star Holdings was issued an additional promissory note in the principal amount of $784 ($1,000 Canadian Funds). This note is unsecured and bears interest at ten (10) percent per annum. Repayment of this note is due no later than January 11, 2023. On January 27, 2021, Black Star Holdings was issued an additional promissory note in the principal amount of $779 ($1,000 Canadian Funds). This note is unsecured and bears interest at ten (10) percent per annum. Repayment of this note is due no later than January 27, 2023. On January 29, 2021, Black Star Holdings was issued an additional promissory note in the principal amount of $4,696 ($6,000 Canadian Funds). This note is unsecured and bears interest at ten (10) percent per annum. Repayment of this note is due no later than January 29, 2023.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Revenue Recognition	Revenue Recognition We offer skincare products through our online store. Revenues are recognized gross when control of our goods are transferred to the customer, which generally occurs upon delivery to the customer. At the time an order is accepted, prices are fixed and determinable and are not subject to adjustment. We do not offer refunds, returns or exchanges. All sales are final. The Company defers revenue where the earnings process is not yet complete.
Inventories	Inventories Inventory of retail merchandise is valued at the lower of cost and net realizable value with a cost being determined on a first-in, first out method. Costs includes all costs of manufacturing the product, packaging, cost of conversion and other costs incurred in bringing the inventory to its present condition and location.
Website	Website Expenditures related to the planning and operation of the Company’s website are expensed as incurred. Expenditures related to the website application and infrastructure development are capitalized and amortized over the website’s estimated useful life of three (3) years. Amortization expense for the three and nine months ended December 31, 2020 and 2019 was $504 and $4,167 and $1,848 and $5,163, respectively.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Financial Accounting Standards Board issued Accounting Standards Updates (“ASU”) to amend the authoritative literature in the Accounting Standards Codification (“ASC”). There have been a number of ASUs to date that amend the original text of the ASC. The Company believes those updates issued-to-date either (i) provide supplemental guidance, (ii) are technical corrections, (iii) are not applicable to the Company, or (iv) are not expected to have a significant impact on the Company.

Nature Of Operations (Details N

Nature Of Operations (Details Narrative)	9 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Date of Incorporation	Nov. 18, 2005

Going Concern (Details Narrativ

Going Concern (Details Narrative) - USD ($)	Dec. 31, 2020	Sep. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Total Stockholders' Deficit	$ 550,546	$ 516,863	$ 481,274	$ 440,978	$ 420,424	$ 369,685

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended	6 Months Ended	9 Months Ended		12 Months Ended
	Jan. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Related party advances		$ 130,992		$ 130,992		$ 130,992
Interest Rate				10.00%
Interest Expense				$ 9,869	$ 6,603
Investor [Member]
Accrued Interest		$ 21,466		21,466	$ 11,314
Promissory Note [Member]
Note Issuer							Black Star Holdings Ltd.
Promissory Note Amount							$ 70,000
Interest Rate							10.00%
Maturity Date							Feb. 19, 2021
Promissory Notes [Member]
Interest Rate			10.00%			10.00%
Promissory Notes			$ 20,076			$ 214,091
Number of Notes						8
Promissory Note 1 [Member]
Note Issuer	Black Star Holdings Ltd.	Black Star Holdings Ltd.
Issuance Date	Jan. 4, 2021	Oct. 23, 2020
Promissory Note Amount	$ 392	$ 10,245		$ 10,245
Interest Rate	10.00%	10.00%		10.00%
Maturity Date	Jan. 4, 2024	Oct. 23, 2022
Promissory Note 2 [Member]
Note Issuer	Black Star Holdings Ltd.	Black Star Holdings Ltd.
Issuance Date	Jan. 5, 2021	Nov. 12, 2020
Promissory Note Amount	$ 395	$ 1,074		$ 1,074
Interest Rate	10.00%	10.00%		10.00%
Maturity Date	Jan. 5, 2023	Nov. 12, 2022
Promissory Note 3 [Member]
Note Issuer	Black Star Holdings Ltd.	Black Star Holdings Ltd.
Issuance Date	Jan. 11, 2021	Nov. 16, 2020
Promissory Note Amount	$ 784	$ 765		$ 765
Interest Rate	10.00%	10.00%		10.00%
Maturity Date	Jan. 11, 2023	Nov. 16, 2022
Promissory Note 4 [Member]
Note Issuer	Black Star Holdings Ltd.	Black Star Holdings Ltd.
Issuance Date	Jan. 27, 2021	Dec. 7, 2020
Promissory Note Amount	$ 779	$ 1,954		$ 1,954
Interest Rate	10.00%	10.00%		10.00%
Maturity Date	Jan. 27, 2023	Dec. 7, 2022
Promissory Note 5 [Member]
Note Issuer	Black Star Holdings Ltd.	Black Star Holdings Ltd.
Issuance Date	Jan. 29, 2021	Dec. 22, 2020
Promissory Note Amount	$ 4,696	$ 1,551		$ 1,551
Interest Rate	10.00%	10.00%		10.00%
Maturity Date	Jan. 29, 2023	Dec. 22, 2022
Promissory Note 6 [Member]
Note Issuer		Black Star Holdings Ltd.
Issuance Date		Dec. 30, 2020
Promissory Note Amount		$ 392		$ 392
Interest Rate		10.00%		10.00%
Maturity Date		Dec. 30, 2022

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended
	Jan. 31, 2021	Dec. 31, 2020
Promissory Note 1 [Member]
Note Issuer	Black Star Holdings Ltd.	Black Star Holdings Ltd.
Issuance Date	Jan. 4, 2021	Oct. 23, 2020
Promissory Note Amount	$ 392	$ 10,245
Interest Rate	10.00%	10.00%
Maturity Date	Jan. 4, 2024	Oct. 23, 2022
Promissory Note 2 [Member]
Note Issuer	Black Star Holdings Ltd.	Black Star Holdings Ltd.
Issuance Date	Jan. 5, 2021	Nov. 12, 2020
Promissory Note Amount	$ 395	$ 1,074
Interest Rate	10.00%	10.00%
Maturity Date	Jan. 5, 2023	Nov. 12, 2022
Promissory Note 3 [Member]
Note Issuer	Black Star Holdings Ltd.	Black Star Holdings Ltd.
Issuance Date	Jan. 11, 2021	Nov. 16, 2020
Promissory Note Amount	$ 784	$ 765
Interest Rate	10.00%	10.00%
Maturity Date	Jan. 11, 2023	Nov. 16, 2022
Promissory Note 4 [Member]
Note Issuer	Black Star Holdings Ltd.	Black Star Holdings Ltd.
Issuance Date	Jan. 27, 2021	Dec. 7, 2020
Promissory Note Amount	$ 779	$ 1,954
Interest Rate	10.00%	10.00%
Maturity Date	Jan. 27, 2023	Dec. 7, 2022
Promissory Note 5 [Member]
Note Issuer	Black Star Holdings Ltd.	Black Star Holdings Ltd.
Issuance Date	Jan. 29, 2021	Dec. 22, 2020
Promissory Note Amount	$ 4,696	$ 1,551
Interest Rate	10.00%	10.00%
Maturity Date	Jan. 29, 2023	Dec. 22, 2022