Regenerex Pharma (RGPX) 10-Q 1 Nov 21 2021 Q2 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Sep. 30, 2021	Nov. 01, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021
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 ($)	Sep. 30, 2021	Mar. 31, 2021
Current Assets
Cash and equivalents	$ 2,545	$ 6,902
Prepaid expenses	2,836	1,213
Total Current Assets	5,381	8,115
Website, net of accumulated amortization of $20,142 and $19,645, respectively	6,641	2,355
Total Assets	12,022	10,470
Current Liabilities
Accounts payable	51,633	48,038
Related party advances	130,992	130,992
Accrued compensation	221,192	221,192
Other accrued liabilities	78,634	71,003
Current portion of notes payable to shareholder	170,405	150,094
Total Current Liabilities	652,856	621,319
Notes payable to shareholder, net of current portion	261,900	224,177
Total Liabilities	914,756	845,496
Common stock: $0.001 par value: 675,000,000 shares authorized: 127,112,660 issued and outstanding at September 30, 2021 and March 31, 2021, respectively	127,113	127,113
Additional paid-in capital	776,963	776,963
Accumulated deficit	(1,806,810)	(1,739,102)
Total Stockholders’ Deficit	(902,734)	(835,026)
Total Liabilities and Stockholders’ Deficit	$ 12,022	$ 10,470

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - USD ($)	Sep. 30, 2021	Mar. 31, 2021
Statement of Financial Position [Abstract]
Accumulated Amortization, Website	$ 20,142	$ 19,645
Common Stock, Par or Stated Value Per Share	$ 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		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Sales		$ 120		$ 197
Cost of Sales		34		42
Gross Profit		86		155
Operating Expenses
General and administrative	23,317	11,809	37,807	21,126
Sales and marketing	218	234	2,691	1,090
Total Operating Expenses	23,535	12,043	40,498	22,216
Operating Loss	(23,535)	(11,957)	(40,498)	(22,061)
Other Income (Expense)
Interest expense	(16,840)	(10,808)	(29,582)	(20,132)
Foreign currency gain	6,619	(3,005)	2,372	6,604
Total Other Income (Expense)	(10,221)	(13,813)	(27,210)	(13,528)
Net Loss	$ (33,756)	$ (25,770)	$ (67,708)	$ (35,589)
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 ($)	6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash Flows from Operating Activities:
Net loss	$ (67,708)	$ (35,589)
Adjustments to reconcile net loss to cash flows used in operating activities:
Depreciation	1,314	3,662
Foreign currency adjustments	(2,372)	(6,604)
Changes in operating assets and liabilities:
Inventories		42
Prepaid expenses	(1,623)
Accounts payable and accrued liabilities	24,932	17,661
Net cash used in operating activities	(45,457)	(20,828)
Cash Flows from Investing Activities:
Website	(5,600)
Net cash used for investing activities	(5,600)
Cash Flows from Financing Activities:
Proceeds from notes payable to shareholder	46,700	19,456
Net cash provided by financing activities	46,700	19,456
(Decrease) in cash and equivalents	(4,357)	(1,372)
Cash and cash equivalents, beginning of period	6,902	5,460
Cash and cash equivalents, end of period	2,545	4,088
Income Taxes
Interest
Non-Cash Investing and Financing Activities:
Accrued interest converted into note payable to shareholder	$ 13,451

STATEMENTS OF STOCKHOLDERS'

STATEMENTS OF STOCKHOLDERS' - USD ($)	3 Months Ended				6 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Balance atJune 30, 2021	$ (868,978)	$ (835,026)	$ (491,091)	$ (481,274)	$ (835,026)	$ (481,274)
Common Stock, Shares, Outstanding, Beginning Balance		127,112,660			127,112,660
Net Loss	(33,756)	$ (33,952)	(25,770)	(9,817)	$ (67,708)	(35,589)
Balance at September 30, 2021	$ (902,734)	(868,978)	(516,863)	(491,091)	$ (902,734)	(516,863)
Common Stock, Shares, Outstanding, Ending Balance	127,112,660				127,112,660
Different Value [Member]
Net Loss			(25,772)
Common Stock [Member]
Balance atJune 30, 2021	$ 127,113	$ 127,113	127,113	$ 127,113	$ 127,113	$ 127,113
Common Stock, Shares, Outstanding, Beginning Balance		127,112,660		127,112,660	127,112,660	127,112,660
Net Loss
Balance at September 30, 2021	$ 127,113	127,113	$ 127,113	127,113	$ 127,113	$ 127,113
Common Stock, Shares, Outstanding, Ending Balance	127,112,660		127,112,660		127,112,660	127,112,660
Common Stock [Member] | Different Value [Member]
Net Loss
Additional Paid-in Capital [Member]
Balance atJune 30, 2021	$ 776,963	776,963	776,963	776,963	$ 776,963	$ 776,963
Net Loss
Balance at September 30, 2021	776,963	776,963	776,963	776,963	776,963	776,963
Additional Paid-in Capital [Member] | Different Value [Member]
Net Loss
Retained Earnings [Member]
Balance atJune 30, 2021	(1,773,054)	(1,739,102)	(1,395,167)	(1,385,350)	(1,739,102)	(1,385,350)
Net Loss	(33,756)	(33,952)		(9,817)
Balance at September 30, 2021	$ (1,806,810)	$ (1,773,054)	(1,420,939)	$ (1,395,167)	$ (1,806,810)	$ (1,420,939)
Retained Earnings [Member] | Different Value [Member]
Net Loss			$ (25,772)

NATURE OF OPERATIONS

NATURE OF OPERATIONS	3 Months Ended
	Sep. 30, 2021
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 COVID-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. As inventory has now expired, the Company will be seeking to order additional inventory prior to resuming sales. 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	3 Months Ended
	Sep. 30, 2021
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 six months ended September 30, 2021 are not necessarily indicative of the results that may be expected for the year ending March 31, 2022. 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, 2021 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, 2021 included within the Company’s Annual Report on Form 10-K as filed with the Securities and Exchange Commission.

GOING CONCERN

GOING CONCERN	3 Months Ended
	Sep. 30, 2021
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 September 30, 2021, it had excess liabilities over assets of $902,734. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company requires significant cash to launch its business and reduce its payable. 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	3 Months Ended
	Sep. 30, 2021
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 reserve the right to refuse all returns, reshipments and refunds. The Company defers revenue where the earnings process is not yet complete. Earnings per Share Earnings per share is reported in accordance with FASB ASC Topic 260 “ Earnings per Share September 30 , 2021 and 2020, the Company does not have any common share equivalents outstanding. 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 six months ended September 30, 2021 and 2020 was $816 and $1,314 and $1,834 and $3,662, 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	3 Months Ended
	Sep. 30, 2021
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 September 30, 2021 and March 31, 2021, and the advances are due on demand. The related party advances accrue interest at ten (10) percent per annum. Repayment is due no later than June 30, 2023. Interest expense was $6,568 and $6,568 during the six-month periods ended September 30, 2021 and 2020, respectively. Note Payable to Shareholder As at September 30, 2021 and March 31, 2021, the Company had various promissory notes with total outstanding principal balances of $432,305 and $374,271, respectively, due to a shareholder of the Company. These notes are unsecured, bear interest at 10% per annum, and have maturity dates ranging from October 11, 2021 to September 28, 2023. On April 15, 2021, one note to a shareholder that was originally due on April 15, 2021 with a principal amount of approximately $72,000 ($90,000 Canadian Funds) was reissued in the principal amount of approximately $86,000 ($108,000 Canadian Funds) which included the original principal amount plus interest accrued as at April 15, 2021 in the amount of approximately $14,000 ($18,000 Canadian Funds). Repayment of the note is due no later than April 15, 2023. During the six-month period ended September 30, 2021, a shareholder was issued additional five (5) promissory notes totaling $46,700 ($59,500 Canadian Funds). 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 of issue. Accrued interest was $45,098 and $33,132 as of September 30, 2021 and March 31, 2021, respectively, which is included in other accrued liabilities.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Sep. 30, 2021
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	3 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 7 – SUBSEQUENT EVENTS Subsequent to the six-month period ended September 30, 2021, on October 11, 2021, a note to a shareholder that was originally due on October 11, 2021 with a principal amount of $10,000 was reissued in the principal amount of $12,000, which included the original principal amount plus interest accrued as at October 11, 2021 in the amount of $2,000. Repayment of the note is due no later than October 11, 2023. On October 21, 2021, a note to a shareholder that was originally due on October 21, 2021 with a principal amount of $30,000 was reissued in the principal amount of $36,000 which included the original principal amount plus interest as at October 21, 2021 in the amount of $6,000. Repayment of the note is due no later than October 21, 2023. On October 23, 2021, a note to a shareholder that was originally due on October 25, 2021 with a principal amount of $24,500 was reissued in the principal amount of $29,400 which included the original principal amount plus interest as at October 25, 2021 in the amount of $4,900. Repayment of the note is due no later than October 25, 2023.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Sep. 30, 2021
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 reserve the right to refuse all returns, reshipments and refunds. The Company defers revenue where the earnings process is not yet complete.
Earnings per Share	Earnings per Share Earnings per share is reported in accordance with FASB ASC Topic 260 “ Earnings per Share September 30 , 2021 and 2020, the Company does not have any common share equivalents outstanding.
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 six months ended September 30, 2021 and 2020 was $816 and $1,314 and $1,834 and $3,662, 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)	3 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Entity Incorporation, Date of Incorporation	Nov. 18, 2005

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Stockholders' Equity Attributable to Parent	$ 902,734	$ 868,978	$ 835,026	$ 516,863	$ 491,091	$ 481,274

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Accounting Policies [Abstract]
Amortization of Intangible Assets	$ 816	$ 1,314	$ 1,834	$ 3,662

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	3 Months Ended	6 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Mar. 31, 2021	Apr. 15, 2021
Related Party Transaction [Line Items]
Related party advances	$ 130,992	$ 130,992		$ 130,992
Interest Expense, Related Party		6,568	$ 6,568
Debt Instrument, Face Amount					$ 86,000
Accrued Liabilities					$ 14,000
Debt Instrument, Maturity Date	Apr. 15, 2023
Notes Payable	$ 261,900	261,900		224,177
Debt Instrument, Maturity Date, Description	due twenty-four (24) months after the date of issue
Interest Expense, Other	$ 45,098			33,132
Note Payable To Shareholder [Member]
Related Party Transaction [Line Items]
Long-term Debt, Fair Value	$ 432,305	$ 432,305		$ 374,271
Debt Instrument, Interest Rate, Stated Percentage	10.00%	10.00%		10.00%
Notes Payable	$ 46,700	$ 46,700

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	Oct. 11, 2021	Oct. 23, 2021	Oct. 21, 2021	Sep. 30, 2021	Apr. 15, 2021
Short-term Debt [Line Items]
Debt Instrument, Face Amount					$ 86,000
Debt Instrument, Maturity Date				Apr. 15, 2023
Promissory Note 1 [Member]
Short-term Debt [Line Items]
Debt Instrument, Issuance Date	Oct. 11, 2021
Debt Instrument, Face Amount	$ 12,000
Debt Instrument, Maturity Date	Oct. 11, 2023
Promissory Note 2 [Member]
Short-term Debt [Line Items]
Debt Instrument, Issuance Date			Oct. 21, 2021
Debt Instrument, Face Amount			$ 36,000
Debt Instrument, Maturity Date			Oct. 21, 2023
Promissory Note 3 [Member]
Short-term Debt [Line Items]
Debt Instrument, Issuance Date		Oct. 23, 2021
Debt Instrument, Face Amount		$ 29,400
Debt Instrument, Maturity Date		Oct. 25, 2023