Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | |
Sep. 30, 2020 | Jan. 15, 2021 | |
Cover [Abstract] | ||
Document Type | 10-K | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2020 | |
Document Fiscal Period Focus | FY | |
Document Fiscal Year Focus | 2020 | |
Current Fiscal Year End Date | --09-30 | |
Entity Registrant Name | Ameritrust Corp | |
Entity Central Index Key | 0001372954 | |
Entity Well-known Seasoned Issuer | No | |
Entity Voluntary Filers | No | |
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 Incorporation State Country Code | WY | |
Entity File Number | 000-53371 | |
Entity Public Float | $ 2,172,150 | |
Entity Common Stock, Shares Outstanding | 7,239,573,961,951 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) | Sep. 30, 2020 | Sep. 30, 2019 |
ASSETS | ||
Cash | $ 2,551,600 | |
Due from Related Party Net (Note 9) | 5,992 | |
Real Estate Property Under Development (Note 4) | 766,210 | |
Goodwill (Notes 6 and 10) | 786,136 | |
Right of Use Asset (Note 5) | 50,715 | |
Other Assets (Note 11) | 65,000 | |
TOTAL ASSETS | 4,225,653 | |
LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT) | ||
Accounts Payable | 24,754 | 5,250 |
Accounts Payable - Related Party (Note 9) | 1,500 | |
Right of Use Liability (Note 5) | 50,715 | |
Interest Payable - Related Party (Note 9) | 549 | |
Notes Payable - Related Party (Note 9) | 17,798 | |
Total Liabilities | 75,469 | 25,097 |
Stockholders' Equity (Deficit) | ||
Common Stock, par value $0.01 ($0.001 at September 30, 2019) Unlimited shares authorized, 26,767,818 shares issued and outstanding at September 30, 2020; 400,000,000 shares authorized, 267,675,000 shares issued and outstanding at September 30, 2019 | 267,675 | 267,675 |
Preferred Stock, par value $0.01 Unlimited shares authorized, no shares issued and outstanding at September 30, 2020 | ||
Additional Paid-In Capital | 4,782,993 | 459,270 |
Accumulated Deficit | (900,484) | (752,042) |
Total Stockholders' Equity (Deficit) | 4,150,184 | (25,097) |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | $ 4,225,653 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Sep. 30, 2020 | Jul. 31, 2020 | Sep. 30, 2019 |
Statement of Financial Position [Abstract] | |||
Common stock, par value (in Dollars per share) | $ 0.01 | $ 0.01 | $ 0.001 |
Common stock, shares authorized | 400,000,000 | 400,000,000 | |
Common stock, shares issued | 26,767,818 | 267,675,000 | |
Common stock, outstanding | 26,767,818 | 267,675,000 | |
Preferred stock, par value (in Dollars per share) | $ 0.01 | $ 0.01 | $ 0.01 |
Preferred stock, shares issued | |||
Preferred stock, outstanding |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Income Statement [Abstract] | ||
Revenues: | ||
Expenses: | ||
Legal and Accounting Fees | 246,790 | 16,641 |
Liquidated Damages | 500,000 | |
General and Administrative Expenses | 35,210 | 3,768 |
Total Operating Expenses | 782,000 | 20,409 |
Operating Loss | (782,000) | (20,409) |
Other Income (Expense) | ||
Interest Expense - Net | (205) | (15,755) |
Gain on Debt Forgiveness | 31,988 | |
Total Other Income (Expense) | 31,783 | (15,755) |
Net Loss before Income Taxes | (750,217) | (36,164) |
Income Taxes | ||
Net Loss | $ (750,217) | $ (36,164) |
Basic and Fully Diluted Loss per Common Share | $ (0.0036) | $ (0.0002) |
Weighted Average Common Shares Outstanding Basic and Fully Diluted | 207,777,313 | 223,291,438 |
CONSOLIDATED STATEMENTS OF STOC
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) | Common Stock [Member] | Additional Paid-In Capital | Accumulated Deficit | Total |
Beginning Balance, shares at Sep. 30, 2018 | 117,675,000 | |||
Beginning Balance, amount at Sep. 30, 2018 | $ 117,675 | $ 573,109 | $ (715,878) | $ (25,094) |
Beneficial Conversion Feature | 15,000 | (15,000) | ||
Stock Issuance for the Cancellation of Debt, shares | 150,000,000 | |||
Stock Issuance for the Cancellation of Debt, amount | $ 150,000 | (128,839) | 21,161 | |
Net Loss | (36,164) | (36,164) | ||
Ending Balance, Shares at Sep. 30, 2019 | 267,675,000 | |||
Ending Balance, Amount at Sep. 30, 2019 | $ 267,675 | 459,270 | (752,042) | (25,097) |
Beneficial Conversion Feature | ||||
Reverse Stock Split, shares | (240,907,182) | |||
Change of Control | 27,772 | 729,187 | 756,959 | |
Common Control Merger | 4,295,951 | (127,412) | 4,168,539 | |
Net Loss | (750,217) | (750,217) | ||
Ending Balance, Shares at Sep. 30, 2020 | 26,767,818 | |||
Ending Balance, Amount at Sep. 30, 2020 | $ 267,675 | $ 4,782,993 | $ (900,484) | $ 4,150,184 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net Loss | $ (750,217) | $ (36,164) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Beneficial Conversion Feature | 15,000 | |
Gain on Debt Forgiveness | (31,988) | |
Changes In: | ||
Due From Related Party | 78,566 | |
Accounts Payable | 4,517 | (10,889) |
Accounts Payable - Related Party | (1,500) | (1,500) |
Interest Payable - Related Party | (549) | 549 |
Net Cash Used in Operating Activities | (701,171) | (33,004) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Common Control Merger | 3,252,771 | |
Net Cash Provided by Investing Activities | 3,252,771 | |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceeds from Note Payable - Related Party | 33,004 | |
Net Cash Provided by Financing Activities | 33,004 | |
Net Increase in Cash | 2,551,600 | |
Cash at Beginning of Period | ||
Cash at End of Period | 2,551,600 | |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | ||
Cash paid during the year for: Interest | 1,447 | |
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES | ||
150,000,000 shares of common stock were issued in exchange for convertible note due to a Related Party | 21,161 | |
Gain on debt forgiveness by a Related Party | 31,988 | |
Goodwill resulting from a Change in Control | 786,136 | |
Right of Use Asset acquired by financing lease | 50,715 | |
Liquidated damages related to a forfeited deposit from purchase agreement | $ 500,000 |
CONSOLIDATED STATEMENTS OF CA_2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) | 144 Months Ended |
Sep. 30, 2020shares | |
Common Stock [Member] | |
Stock Issuance for Cancellation of Debt, shares | 150,000,000 |
Organizational History and Desc
Organizational History and Description of Business | 12 Months Ended |
Sep. 30, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organizational History and Description of Business | Note 1. Organizational History and Description of Business Background Ameritrust Corporation, a Wyoming corporation (the "Company"), is the successor to Gryphon Resources, Inc., a Nevada corporation incorporated in Nevada in January 2006 ("Gryphon"). Gryphon was originally incorporated under the name Gryphon Oil & Gas, Inc. Gryphon's primary business focus was acquiring and exploring properties for the existence of commercially viable deposits of gold in Canada. In April 2008, Gryphon established a Turkish subsidiary named APM Madencilik Sanayi Ve Ticaret Limited Sirketi. The Turkish subsidiary was sold in September 2010 to an unrelated third party, and all operations in Turkey ceased. Thereafter, Gryphon focused on mineral exploration and continued exploring for gold, silver, copper-porphyry and lithium on two different properties in the state of Arizona. In August 2012, Gryphon filed dissolution documents with the State of Nevada. In 2018, its corporate charter was reinstated and one of Gryphon's shareholders was appointed as custodian. Since that time it has since been seeking merger targets and has been evaluating various opportunities. Change of Control In March 2020, Mr. Seong Y. Lee purchased 142,500,000 shares of common stock of Gryphon in a private transaction, representing a majority of the outstanding shares from Tourmeline Ventures, LLC for $0.0028 per share in cash. The purchase price was paid from personal funds of Mr. Lee and, as a result, Mr. Lee became the controlling shareholder. In April and July 2020, following the change in control, the Board of Directors of Gryphon increased the number of directors on its Board from one to two. Subsequently, the Board voted to appoint Mr. Lee to the vacancy on the Board of Directors and elect him as Chief Executive Officer. The Board also voted to increase the authorized shares to 410,000,000, of which 400,000,000 shares were designated as common stock and 10,000,000 shares were designated as preferred stock, and to affect a 1 for 10 reverse stock split. Common Control Mergers In June 2008, Panko Financial Corporation ("Panko") filed Articles of Incorporation in the state of Michigan. This entity has 380,000 shares of common stock authorized. In November 2008, Panko changed its name to Ameritrust Corporation, a Michigan corporation ("AMI"). In April 2020, Americorp, Inc., registered in the state of Georgia with 10,000,100,000,000 shares of stock authorized with a $.01 par value of which 10,000,000,000,000 shares are for common stock and 100,000,000 shares are for preferred stock. In May 2020, this entity changed its name to Ameritrust Corporation ("AMGA"). Effective May 2020, AMI entered into an agreement whereby AMI merged into AMGA, and AMGA is the surviving entity. AMGA's majority stockholder is the sole stockholder of AMI, and as a result this transaction was accounted for as a common control merger. See Note 10. In April 2020, Americorp, Inc. filed Articles of Incorporation in the state of Wyoming authorizing an unlimited number of shares of common and preferred stock with a par value of $.01. Also in April 2020, this entity changed its name to Ameritrust Corporation ("Ameritrust"). In August 2020, Ameritrust Corporation, a Wyoming Corporation merged with Ameritrust Corporation, a Georgia corporation. In accordance with the terms of the Merger Agreement between the commonly controlled companies, AMGA shareholders received one share of common stock of Ameritrust for each share of AMGA that they held. Ameritrust is the surviving corporation in the merger. See Note 10. The accompanying consolidated financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP) and include the accounts Gryphon Resources, Inc. and Ameritrust Corporation ("Ameritrust"), which are collectively referred to as "the Company" unless the context otherwise requires. All intercompany accounts, transactions and balances have been eliminated in consolidation. Subsequent to the purchase of the majority of the stock of Gryphon, and the common control mergers, the Company is a real estate holding, development, and operating company. The Company's common stock trades on the OTC PINK Exchange under the ticker symbol "ATCC" (formerly "GRYO"). The Company's functional currency is USD and the Company's reporting currency is USD. The consolidated financial statements are presented in accordance with accounting principles related to common control transactions. ASC 805-50 governs transactions between commonly controlled entities. ASC 805, Business Combinations explicitly scopes out common control transactions from business combinations (ASC 805-10-15-4). ASC 805-10-20 defines a business combination as a transaction where an acquirer obtains control, which is different than a merger of two entities controlled by the same person because neither entity gains control of the other. |
Liquidity
Liquidity | 12 Months Ended |
Sep. 30, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Liquidity | Note 2. Liquidity The Company has not attained profitable operations and is dependent upon the continued financial support from its shareholders, the ability to raise equity or debt financing, and the attainment of profitable operations from future business plans. These factors raise substantial concerns about the long-term liquidity of the Company, and whether the Company will be able to meet obligations and repay liabilities arising from normal business operations when they come due. In assessing its liquidity, management monitors and analyzes the Company's cash on-hand, its ability to generate sufficient revenue sources in the future, and its operating and capital expenditure commitments. As of September 30, 2020, our total cash balance was approximately $2,552,000 as compared to $0 as of September 30, 2019; however, for the years ended September 30, 2020 and 2019, the Company had negative cash flow from operating activities. In addition, our principal shareholder, Mr. Lee, has been providing funds to support the Company's operations. In the fiscal years ended September 30, 2020 and 2019, operating loss was $782,000 and $20,409 respectively, consisting primarily of legal and accounting fees, forfeited deposit on purchase agreement, administrative expenses and filing fees. The ongoing expenses of the Company will be related to its real estate ventures as well as mandatory filing requirements, including reporting requirements under the Securities Exchange Act of 1934. The Company continues to rely on cash contributions from the Company's majority shareholder. In late 2019, an outbreak of COVID-19 emerged and by March 11, 2020 was declared a global pandemic by The World Health Organization. Throughout the United States and locally, governments and municipalities instituted measures in an effort to control the spread of COVID-19, including quarantines, shelter-in-place orders, school closings, travel restrictions and the closure of non-essential businesses. The effects of COVID-19 could impact the Company's ability to maintain sufficient liquidity to continue operations. The impact of COVID-19 on companies is evolving rapidly and its future effects are uncertain. There are material uncertainties from COVID-19 that cast significant doubt on the Company's ability to operate. It is highly likely that the Company will have issues relating to the current situation that need to be considered by management. There will be a wide range of factors to consider, including travel bans, restrictions on activity, government assistance and potential sources of replacement financing, financial health of suppliers and customers and their effect on expected profitability and other key financial performance ratios including information that shows whether there will be sufficient liquidity to continue to meet obligations when they come due. Based on the assessment of the current economic environment, potential customer demands and sales trends, and the negative impact from COVID-19 outbreak and spread, we believe that the real estate market will continue to be uncertain in the coming periods. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Sep. 30, 2020 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Note 3. Summary of Significant Accounting Policies 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, liabilities, and expenses during the reporting period. On an on-going basis, the Company evaluates its estimates. Actual results and outcomes may differ materially from the estimates as additional information becomes known. The estimates that we make include valuation of goodwill, the selection of estimated useful lives of real estate, and valuation of deferred tax assets. Fair Value Measurements The FASB's authoritative guidance for fair value measurements establishes a three-level hierarchy based upon the inputs to the valuation model of an asset or liability. Level 1 inputs are quoted prices in active markets for identical assets; Level 2 inputs are significant other observable inputs; and Level 3 inputs are significant unobservable inputs. When available, the Company uses quoted market prices in active markets to determine fair value. Non-financial assets measured at fair value on a non-recurring basis principally include goodwill and real estate assets which the Company reviews for indicators of impairment when events and circumstances indicate that the carrying value is not recoverable. The carrying value of cash and accounts payable approximate their fair value because of the short-term nature of these instruments and their liquidity. Management is of the opinion that the Company is not exposed to significant interest or credit risks arising from these financial instruments. Cash Cash consists of highly liquid investments with original maturities of three months or less. On occasion, the Company has amounts deposited with financial institutions in excess of federally insured limits. Real Estate Property Under Development Real estate property consists of a residential site under development. Real estate property under development is stated at the lower of cost or fair value. Expenditures for land development, including cost of land use rights, deed tax, pre-development costs, and engineering costs, exclusive of depreciation, are capitalized and allocated to development projects by the specific identification method. Real estate property under development is subject to valuation adjustments when the carrying amount exceeds fair value. An impairment loss is recognized only if the carrying amount of the assets is not recoverable and exceeds fair value. The carrying amount is not recoverable if it exceeds the sum of the undiscounted cash flows expected to be generated by the assets. The Company reviewed all of its real estate projects for future losses and impairment by comparing the estimated future undiscounted cash flows for each project to the carrying value of such project. Goodwill Goodwill is reviewed for impairment at least annually, or more frequently when events or changes in circumstances indicate that the carrying value may not be recoverable. Judgments regarding indicators of potential impairment are based on market conditions and operational performance of the business. The Company may assess its goodwill for impairment initially using a qualitative approach to determine whether conditions exist to indicate that it is more likely than not that the fair value of a reporting unit is less than its carrying value. If management concludes, based on its assessment of relevant events, facts and circumstances that it is more likely than not that a reporting unit's carrying value is greater than its fair value, then a goodwill impairment charge is recognized for the amount in excess, not to exceed the total amount of goodwill allocated to that reporting unit. If the fair value of a reporting unit exceeds its carrying amount, goodwill is not considered to be impaired and no further testing is required. If determined to be impaired, an impairment charge is recorded as a general and administrative expense within the Company's consolidated statement of operations. Right of Use Assets and Lease Liabilities The Company adopted ASU 2016-02 which amended the previous guidance for lease accounting and related disclosure requirements. The new guidance requires the recognition of right-of-use assets and lease liabilities on the balance sheet for leases with terms greater than 12 months or leases that contain a purchase option that is reasonably certain to be exercised. Lessees are required to classify leases as either financing or operating leases. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. The Company elected to utilize the package of practical expedients in ASC 842-10-65-1(f) that, upon adoption of ASU 2016-02, allows entities to (1) not reassess whether any expired or existing contracts contain leases, (2) retain the classification of leases (e.g., operation or finance lease) existing at the date of adoption and (3) not reassess initial direct costs for any existing leases. The Company adopted ASU 2016-02 using the modified retrospective method, and accordingly, the new guidance was applied to leases that existed as of September 30, 2020. The adoption of ASU 2016-02 did not have a material impact on the Company's balance sheet, results of operations or cash flows. The Company leases a vehicle used for business. The lease expires in August 2023. Distinguishing Liabilities from Equity The Company relies on the guidance provided by ASC Topic 480, Distinguishing Liabilities from Equity, to classify certain convertible instruments. The Company first determines whether a financial instrument should be The Company analyzes all financial instruments with features of both liabilities and equity under ASC 480, "Distinguishing Liabilities from Equity," and ASC 815. Income Taxes Deferred income tax assets and liabilities are determined based on the estimated future tax effects of net operating loss and credit carryforwards and temporary differences between the tax basis of assets and liabilities and their respective financial reporting amounts measured at the current enacted tax rates. The Company records an estimated valuation allowance on its deferred income tax assets if it is not more likely than not that these deferred income tax assets will be realized. When assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of its deferred tax assets will not be realized. The realization of deferred tax assets is dependent upon the generation of sufficient taxable income in future periods and in the jurisdictions in which those temporary differences become deductible. The Company records a valuation allowance when it determines it is more likely than not that a portion of the deferred tax assets will not be realized. The accounting for deferred taxes is based upon estimates of future results. Differences between the anticipated and actual outcomes of these future results could have a material impact on the Company's consolidated results of operations or financial position. Also, changes in existing federal and state tax laws and tax rates could affect future tax results and the valuation of the Company's deferred tax assets and liabilities. Interest and penalties related to unrecognized tax benefits are recognized in the consolidated financial statements as a component of income tax expense. Significant judgment is required to evaluate uncertain tax positions. The Company evaluates its uncertain tax positions on a quarterly basis. The evaluations are based upon a number of factors, including changes in facts or circumstances, changes in tax law, correspondence with tax authorities during the course of audits and effective settlement of audit issues. Changes in the recognition or measurement of uncertain tax positions could result in increases or decreases in the Company's income tax expense in the period in which the change is made. Earnings (Loss) Per Share Basic and diluted earnings (loss) per common share is calculated using the weighted average number of common shares outstanding during the period. The Company's convertible notes are excluded from the computation of diluted earnings per share as they are anti-dilutive due to the Company's losses during those periods. Business Combinations The September 30, 2020 consolidated financial statements present the combined operations of Ameritrust and Gryphon beginning on March 25, 2020, which is the date a Change of Control effected a new beginning of period. Pending Accounting Standards In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement ("ASU 2018-13"), which amends disclosure requirements on fair value measurements in Topic 820. This amendment modifies the valuation process of fair value measurements by removing the disclosure requirements for the valuation processes for Level 3 fair value measurements, clarifying the timing of the measurement uncertainty disclosure, and including the changes in unrealized gains and losses for recurring Level 3 fair value measurements in other comprehensive income if held at the end of the reporting period. It also allows the disclosure of other quantitative information in lieu of the weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The amendments in this ASU are effective for fiscal years beginning after December 15, 2019 and should be applied prospectively for the most recent period presented in the initial fiscal year of adoption. The Company is currently evaluating the impact that this guidance will have on the Company's results of operations, financial position and cash flows. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ("ASU 2019-12"), which modifies ASC 740 to reduce complexity while maintaining or improving the usefulness of the information provided to users of financial statements. ASU 2019-12 is effective for the Company for interim and annual reporting periods beginning after December 15, 2021. The Company is currently assessing the impact of ASU 2019-12, but it is not expected to have a material impact on the Company's consolidated financial statement. |
Real Estate Property Under Deve
Real Estate Property Under Development | 12 Months Ended |
Sep. 30, 2020 | |
Real Estate Property Under Development | |
Real Estate Property Under Development | Note 4. Real Estate Property Under Development The following is a description of the Company's significant real estate transactions during the year ended September 30, 2020: - Purchased 23.45 acres of land in Bedford, NY for a total purchase price of $766,210. Each quarter, the Company reviews the performance and outlook for its real estate for indicators of potential impairment and performs detailed impairment evaluations and analyses when necessary. As a result of this process, there were no real estate impairment charges for the year ended September 30, 2020. When applicable, real estate impairments and land option charges are included in cost of sales in the consolidated statement of operations. |
Right of Use Assets and Lease L
Right of Use Assets and Lease Liabilities | 12 Months Ended |
Sep. 30, 2020 | |
Right Of Use Assets And Lease Liabilities | |
Right of Use Assets and Lease Liabilities | Note 5. Right of Use Assets and Lease Liabilities During August 2020, the Company entered into a financing lease for a vehicle. The lease requires monthly payments of $1,449 over a three year term that expires in August 2023. Most leases contain renewal options for varying periods, which are at the Company's sole discretion and included in the expected lease term if they are reasonably certain of being exercised. Right-of-use assets and lease liabilities are recognized at commencement date based on the present value of lease payments over the lease term. The Company uses its incremental borrowing rate to determine the present value of the lease as the rate implicit in the lease is typically not readily determinable. Operating lease Right of Use Assets and Lease Liabilities were as follows for the year ended September 30, 2020: Right of Use Assets: Operating Right of Use Asset $ 50,715 Right of Use Liabilities: Operating Lease Liability $ 50,715 As of September 30, 2020, operating lease maturities are as follows: Period Ending September 30, 2021 $ 17,388 2022 17,388 2023 15,939 $ 50,715 |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Sep. 30, 2020 | |
Fair Value Measurements | |
Fair Value Measurements | Note 6. Fair Value Measurements The Company measures goodwill at fair value on a non-recurring basis when events and circumstances indicate that the carrying value is not recoverable. No such assets or liabilities were required to be measured at fair value on a recurring basis at September 30, 2020 and 2019. |
Equity
Equity | 12 Months Ended |
Sep. 30, 2020 | |
Equity [Abstract] | |
Equity | Note 7. Equity Common and Preferred Stock – Authorized In July 2020, the Articles of Incorporation of the Company were amended in the State of Nevada to authorize 410,000,000 shares of capital stock of which 400,000,000 shares were designated as common stock with a par value of $0.01 per share and 10,000,000 shares were designated as preferred stock with a par value of $0.01 per share. The shareholders also approved a 10-1 reverse stock split and recapitalization of its stock. Subsequent to the merger of Ameritrust and Gryphon in August 2020, the Company has authorized capital stock consisting of an unlimited number of shares of common stock and an unlimited number of shares of preferred stock. Therefore, as of September 30, 2020, the Company is authorized to issue unlimited shares of common stock with a par value of $0.01 and unlimited shares of preferred stock with a par value of $0.01. As of September 30, 2019, the Company was authorized to issue 400,000,000 of common stock with a par value of $0.0001. The Company had no authorized shares of preferred stock. Common and Preferred Stock – Issued and Outstanding At September 30, 2020 and 2019, there were 26,767,818 and 267,675,000 shares of common stock issued and outstanding, respectively. At September 30, 2020 and 2019, there were no shares of preferred stock issued and outstanding. |
Income Taxes
Income Taxes | 12 Months Ended |
Sep. 30, 2020 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 8. Income Taxes Significant components of the Company's deferred tax assets are as follows: September 30, 2020 September 30, 2019 Deferred tax assets: Net operating loss carryforwards $ 231,785 $ 157,667 Total deferred tax assets 231,785 157,667 Less: valuation allowance (231,785) (157,667) Net deferred tax asset $ - $ - The net increase in the valuation allowance for deferred tax assets was $76,459 for the year ended September 30, 2020, due to the increased accumulated deficit. The Company evaluates its valuation allowance on an annual basis based on projected future operations. When circumstances change and this causes a change in management's judgment about the realizability of deferred tax assets, the impact of the change on the valuation allowance is reflected in current operations. For federal income tax purposes, the Company has net U.S. operating loss carry forwards at September 30, 2020 available to offset future federal taxable income, if any, of $900,484. The majority of loss carry forwards will expire by the fiscal year ended September 30, 2039. Accordingly, there is no current tax expense for the years ended September 30, 2020 and 2019. The utilization of the tax net operating loss carry forwards may be limited due to ownership changes that have occurred as a result of sales of common stock. The effects of state income taxes were insignificant for the years ended September 30, 2020 and 2019. The following is a reconciliation between expected income tax benefit and actual, using the applicable statutory income tax rate of 26% and 21% for the years ended September 30, 2020 and 2019, respectively: 2020 2019 Income tax benefit at statutory rate $ 195,056 $ 7,594 Change in valuation allowance (195,056) (7,594) $ - $ - As of September 30, 2020, the Company does not believe that it has taken any tax positions that would require the recording of any additional tax liability nor does it believe that there are any unrealized tax benefits that would either increase or decrease within the next twelve months. As of September 30, 2020, the Company's income tax returns generally remain open for examination for three years from the date filed with each taxing jurisdiction. |
Related Party
Related Party | 12 Months Ended |
Sep. 30, 2020 | |
Related Party Transactions [Abstract] | |
Related Party | Note 9. Related Party Gryphon Resources, Inc. As of September 30, 2020, due to agreements executed as part of the Change of Control, the debt due to the former legal custodian of Gryphon in the amount of $31,988 was forgiven. Therefore, as of September 30, 2020, the Company has $0 in promissory notes payable and interest payable to the former legal custodian. From September 2018 to June 2020, the Company incurred related party payables of $7,000 to an entity related to the legal custodian of Gryphon for professional fees. On March 31, 2019, $4,000 of this balance was converted into a promissory note payable bearing interest at an annual rate of 10%. In June 2020, $3,000 was converted into a non-interest bearing promissory note payable. As of September 30, 2020, this debt was forgiven during the Change of Control. In December 2019, Gryphon issued a $7,247 promissory note payable related to the legal custodian of Gryphon. This note is non-interest bearing and is payable on demand. As of September 30, 2020, this debt was forgiven during the Change of Control. In September 2019, Gryphon issued a $3,500 promissory note payable related to the legal custodian of Gryphon. This note is non-interest bearing and is payable on demand. As of September 30, 2020, this debt was forgiven during the Change of Control. In July 2019, Gryphon issued a $2,150 promissory note payable related to the legal custodian of Gryphon. These notes bear interest at an annual rate of 10% and are payable on demand. As of September 30, 2020, this debt was forgiven during the Change of Control. In June 2019, Gryphon issued a $5,000 promissory note payable and a $354 promissory note payable related to the legal custodian of Gryphon. These notes bear interest at an annual rate of 10% and are payable on demand. As of September 30, 2020, this debt was forgiven during the Change of Control. In March 2019, Gryphon issued a $4,000 promissory note payable and a $2,794 promissory note payable related to the legal custodian of Gryphon. These notes bear interest at an annual rate of 10% and are payable on demand. As of September 30, 2020, this debt was forgiven during the Change of Control. In January 2019, 150,000,000 shares of Gryphon common stock were issued in exchange for the cancellation of debt, $21,161 in convertible notes payable, and accrued interest to an entity related to the legal custodian of Gryphon. In January 2019, Gryphon issued a $10,000 convertible note payable to an entity related to the legal custodian of Gryphon. This note bears interest at an annual rate of 10% and is convertible to common shares of the Company at $0.0001 per share. In connection with the above note, Gryphon recognized a beneficial conversion feature of $10,000, representing the maximum amount of the intrinsic value of the conversion feature at the time of issuance. This beneficial conversion feature was accreted to interest expense during the year ended September 30, 2019. As of September 30, 2019, this note had been converted and $0 was outstanding in principal and accrued interest. In December 2018, Gryphon issued a $5,000 convertible note payable to an entity related to the legal custodian of Gryphon. This note bears interest at an annual rate of 10% and is convertible to common shares of Gryphon at $0.0001 per share. In connection with this note, Gryphon recognized a beneficial conversion feature of $5,000, representing the maximum amount of the intrinsic value of the conversion feature at the time of issuance. This beneficial conversion feature was accreted to interest expense during the year ended September 30, 2019. As of September 30, 2019, this note had been converted and $0 of the principal balance and accrued interest was outstanding on the note payable. Ameritrust Corporation At September 30, 2020, the majority shareholder, Director and CEO, Mr. Lee, paid the Company's legal fees and stock transfer agent fees which are offset by amounts he owes the Company. The net related party accounts receivable balance as of September 30, 2020 amounts to $5,992, and is non-interest bearing. |
Change of Control and Common Co
Change of Control and Common Control Merger | 12 Months Ended |
Sep. 30, 2020 | |
Business Combinations [Abstract] | |
Change of Control and Common Control Merger | Note 10. Change of Control and Common Control Merger Change of Control In March 2020, a Change of Control of the Company resulted from a private transaction where 142,500,000 shares of common stock representing an ownership interest of approximately 53% was purchased by Mr. Seong Y. Lee. The consideration for the shares was $0.0028 per share. The source of cash consideration for the shares was personal funds of Mr. Lee. The following is the fair value of the assets acquired and the liabilities assumed in the Change of Control: Assets Goodwill $ 786,136 Total Assets 786,136 Liabilities Accounts Payable 1,159 Accounts Payable - Related Party 28,018 Total Liabilities 29,177 Net Assets $ 756,959 Consideration Cash $ 400,000 Fair value of noncontrolling interest $ 356,959 $ 756,959 Change of Control In August 2020, Ameritrust Corporation, a Wyoming Corporation ("Ameritrust") merged with Ameritrust Corporation, a Georgia corporation ("AMGA"). In accordance with the terms of the Merger Agreement between the commonly controlled companies, AMGA shareholders received one share of common stock of Ameritrust for each share of AMGA that they held. Ameritrust is the surviving corporation in the merger. For accounting purposes, the transaction was accounted for as a common control merger because Mr. Lee owns the majority of the stock outstanding and his management team holds all key positions in the management of the combined company. The following is the book value of the assets acquired, and the liabilities assumed in this transaction: Assets Cash $ 3,252,771 Due to Shareholder 84,558 Investment BeeSpoke Capital LLC 65,000 Property and Equipment, net 766,210 Total Assets 4,168,539 Liabilities Total Liabilities - Net Assets $ 4,168,539 |
Material Agreements
Material Agreements | 12 Months Ended |
Sep. 30, 2020 | |
Material Agreements | |
Material Agreements | Note 11. Material Agreements Blue Diamond Ranch In July 2020, the Company entered into a purchase agreement to acquire certain land near Ely, Nevada, including equipment, grazing permits and mineral rights, for approximately $15,000,000. It paid an escrow deposit of $500,000, with approximately $14,500,000 due to the seller at closing. Under the agreement, the deposit is forfeited if due diligence is not completed by December 1, 2020. The Company failed to close the transaction, and forfeited the $500,000 deposit. Beespoke Capital Colorado, Inc. In October 2019, before the change in control, the Company purchased the assets of Beespoke Capital Colorado, a broker-dealer firm ("Beespoke"). Subsequently, the licenses of Beespoke issued by the Financial Industry Regulatory Authority, Inc. ("FINRA") and the Securities and Exchange Commission ("SEC") expired and the principal officer of Beespoke resigned. The Company's current management is in the process of renewing such licenses. The Company converted Beespoke from a limited liability company to a corporation and changed its domicile from Colorado to Connecticut. Pending renewal of regulatory licenses, Beespoke is inactive. |
Concentration of Credit Risk
Concentration of Credit Risk | 12 Months Ended |
Sep. 30, 2020 | |
Concentration Of Credit Risk | |
Concentration of Credit Risk | Note 12. Concentration of Credit Risk The Company relies heavily on the support of its Chairman and majority shareholder. A withdrawal of this support, for any reason, would have a material adverse effect on the Company's financial position and its operations. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Sep. 30, 2020 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 13. Subsequent Events The Company has evaluated subsequent events through the date on which the consolidated financial statements were available to be issued. Real Estate Asset Acquisitions On October 20, 2020, the Company issued 7,022,387,818,000 shares of common stock to related party investors in exchange for development properties comprised of three operating companies, land and buildings. Real estate development consist of residential unit sites and commercial offices. The operating companies lease the land for the residential unit sites under land use right leases with various terms from the Peoples Republic of China (PRC) government. The following table summarizes these properties: Acquisition Date Description of Property Shares Issued October 20, 2020 Beijing Meixin Fortune Plaza 483,002,832,900 October 20, 2020 Shenzhen Meixin Fortune Plaza 483,002,832,900 October 20, 2020 Shanghai Meixin Fortune Plaza 477,337,110,500 October 20, 2020 Guangzhou Meixin Fortune Plaza 413,597,733,700 October 20, 2020 Hangzhou Meixin Fortune Plaza 407,932,011,300 October 20, 2020 Liaoning Zhongshuiyatian Industry Co. 355,966,666,600 October 20, 2020 Shenyang Meixin Fortune Plaza 311,614,730,900 October 20, 2020 Chongqing Meixin Fortune Plaza 308,781,869,700 October 20, 2020 Tianjin Meixin Fortune Plaza 308,781,869,700 October 20, 2020 Chengdu Meixin Fortune Plaza 252,124,645,900 October 20, 2020 Nanjing Meixin Fortune Plaza 229,461,756,400 October 20, 2020 Xi'an Meixin Fortune Plaza 223,796,034,000 October 20, 2020 Sanya Meixin Fortune Plaza 223,796,034,000 October 20, 2020 Fuzhou Meixin Fortune Plaza 195,467,422,100 October 20, 2020 Wuhan Meixin Fortune Plaza 195,467,422,100 October 20, 2020 Kunming Meixin Fortune Plaza 174,220,963,200 October 20, 2020 Changsha Meixin Fortune Plaza 174,220,963,200 October 20, 2020 Taiyuan Meixin Fortune Plaza 152,974,504,200 October 20, 2020 Harbin Meixin Fortune Plaza 152,974,504,200 October 20, 2020 Jinan Meixin Fortune Plaza 152,974,504,200 October 20, 2020 Hefei Meixin Fortune Plaza 152,974,504,200 October 20, 2020 Zhengzhou Meixin Fortune Plaza 152,974,504,200 October 20, 2020 Guiyang Meixin Fortune Plaza 152,974,504,200 October 20, 2020 Changchun Meixin Fortune Plaza 150,141,643,100 October 20, 2020 Lanzhou Meixin Fortune Plaza 150,141,643,100 October 20, 2020 Nanning Meixin Fortune Plaza 141,643,059,500 October 20, 2020 Fushun Bank Co., Ltd 141,170,915,900 October 20, 2020 Yinchuan Meixin Fortune Plaza 128,895,184,100 October 20, 2020 Liaoning Pacific Industry Co., Ltd 50,821,529,700 October 20, 2020 Panjin Real Estate Co., Ltd 42,351,274,700 October 20, 2020 Fushun Fortune Plazza Real Estate Co,.Ltd 42,351,274,700 October 20, 2020 Shenyang Haojingxiang Real Estate Co., Ltd 35,292,729,000 October 20, 2020 Liaoning Zhongshuiyatian Industry Co., Ltd. 1,916,902,700 October 20, 2020 Bank of Fushun Co., Ltd 472,143,500 October 20, 2020 Liaoning Medical Center at Dalian 198,300,300 October 20, 2020 Liaoning Pacific Industry Co., Ltd 169,971,600 October 20, 2020 Panjin Real Estate Co., Ltd 141,643,000 October 20, 2020 Fushun Fortune Plazza Real Estate Co,.Ltd 141,643,000 October 20, 2020 Shenyang Haojingxiang Real Estate properties 118,035,800 Shares issued in exchange for properties 7,022,387,818,000 The accounting treatment and related reporting associated with this transaction has not been consummated as of the date of this filing. On October 20, 2020, the Company issued 217,159,376,133 shares of common stock for services, donations and gifts. The closing price of the Company's common stock was $0.29 per share on the date of issuance. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Sep. 30, 2020 | |
Accounting Policies [Abstract] | |
Estimates | 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, liabilities, and expenses during the reporting period. On an on-going basis, the Company evaluates its estimates. Actual results and outcomes may differ materially from the estimates as additional information becomes known. The estimates that we make include valuation of goodwill, the selection of estimated useful lives of real estate, and valuation of deferred tax assets. |
Fair Value Measurements | Fair Value Measurements The FASB's authoritative guidance for fair value measurements establishes a three-level hierarchy based upon the inputs to the valuation model of an asset or liability. Level 1 inputs are quoted prices in active markets for identical assets; Level 2 inputs are significant other observable inputs; and Level 3 inputs are significant unobservable inputs. When available, the Company uses quoted market prices in active markets to determine fair value. Non-financial assets measured at fair value on a non-recurring basis principally include goodwill and real estate assets which the Company reviews for indicators of impairment when events and circumstances indicate that the carrying value is not recoverable. The carrying value of cash and accounts payable approximate their fair value because of the short-term nature of these instruments and their liquidity. Management is of the opinion that the Company is not exposed to significant interest or credit risks arising from these financial instruments. |
Cash | Cash Cash consists of highly liquid investments with original maturities of three months or less. On occasion, the Company has amounts deposited with financial institutions in excess of federally insured limits. |
Real Estate Property Under Development | Real Estate Property Under Development Real estate property consists of a residential site under development. Real estate property under development is stated at the lower of cost or fair value. Expenditures for land development, including cost of land use rights, deed tax, pre-development costs, and engineering costs, exclusive of depreciation, are capitalized and allocated to development projects by the specific identification method. Real estate property under development is subject to valuation adjustments when the carrying amount exceeds fair value. An impairment loss is recognized only if the carrying amount of the assets is not recoverable and exceeds fair value. The carrying amount is not recoverable if it exceeds the sum of the undiscounted cash flows expected to be generated by the assets. The Company reviewed all of its real estate projects for future losses and impairment by comparing the estimated future undiscounted cash flows for each project to the carrying value of such project. |
Goodwill | Goodwill Goodwill is reviewed for impairment at least annually, or more frequently when events or changes in circumstances indicate that the carrying value may not be recoverable. Judgments regarding indicators of potential impairment are based on market conditions and operational performance of the business. The Company may assess its goodwill for impairment initially using a qualitative approach to determine whether conditions exist to indicate that it is more likely than not that the fair value of a reporting unit is less than its carrying value. If management concludes, based on its assessment of relevant events, facts and circumstances that it is more likely than not that a reporting unit's carrying value is greater than its fair value, then a goodwill impairment charge is recognized for the amount in excess, not to exceed the total amount of goodwill allocated to that reporting unit. If the fair value of a reporting unit exceeds its carrying amount, goodwill is not considered to be impaired and no further testing is required. If determined to be impaired, an impairment charge is recorded as a general and administrative expense within the Company's consolidated statement of operations. |
Right of Use Assets and Lease Liabilities | Right of Use Assets and Lease Liabilities The Company adopted ASU 2016-02 which amended the previous guidance for lease accounting and related disclosure requirements. The new guidance requires the recognition of right-of-use assets and lease liabilities on the balance sheet for leases with terms greater than 12 months or leases that contain a purchase option that is reasonably certain to be exercised. Lessees are required to classify leases as either financing or operating leases. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. The Company elected to utilize the package of practical expedients in ASC 842-10-65-1(f) that, upon adoption of ASU 2016-02, allows entities to (1) not reassess whether any expired or existing contracts contain leases, (2) retain the classification of leases (e.g., operation or finance lease) existing at the date of adoption and (3) not reassess initial direct costs for any existing leases. The Company adopted ASU 2016-02 using the modified retrospective method, and accordingly, the new guidance was applied to leases that existed as of September 30, 2020. The adoption of ASU 2016-02 did not have a material impact on the Company's balance sheet, results of operations or cash flows. The Company leases a vehicle used for business. The lease expires in August 2023. |
Distinguishing Liabilities from Equity | Distinguishing Liabilities from Equity The Company relies on the guidance provided by ASC Topic 480, Distinguishing Liabilities from Equity, to classify certain convertible instruments. The Company first determines whether a financial instrument should be The Company analyzes all financial instruments with features of both liabilities and equity under ASC 480, "Distinguishing Liabilities from Equity," and ASC 815. |
Income Taxes | Income Taxes Deferred income tax assets and liabilities are determined based on the estimated future tax effects of net operating loss and credit carryforwards and temporary differences between the tax basis of assets and liabilities and their respective financial reporting amounts measured at the current enacted tax rates. The Company records an estimated valuation allowance on its deferred income tax assets if it is not more likely than not that these deferred income tax assets will be realized. When assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of its deferred tax assets will not be realized. The realization of deferred tax assets is dependent upon the generation of sufficient taxable income in future periods and in the jurisdictions in which those temporary differences become deductible. The Company records a valuation allowance when it determines it is more likely than not that a portion of the deferred tax assets will not be realized. The accounting for deferred taxes is based upon estimates of future results. Differences between the anticipated and actual outcomes of these future results could have a material impact on the Company's consolidated results of operations or financial position. Also, changes in existing federal and state tax laws and tax rates could affect future tax results and the valuation of the Company's deferred tax assets and liabilities. Interest and penalties related to unrecognized tax benefits are recognized in the consolidated financial statements as a component of income tax expense. Significant judgment is required to evaluate uncertain tax positions. The Company evaluates its uncertain tax positions on a quarterly basis. The evaluations are based upon a number of factors, including changes in facts or circumstances, changes in tax law, correspondence with tax authorities during the course of audits and effective settlement of audit issues. Changes in the recognition or measurement of uncertain tax positions could result in increases or decreases in the Company's income tax expense in the period in which the change is made. |
Earnings (Loss) Per Share | Earnings (Loss) Per Share Basic and diluted earnings (loss) per common share is calculated using the weighted average number of common shares outstanding during the period. The Company's convertible notes are excluded from the computation of diluted earnings per share as they are anti-dilutive due to the Company's losses during those periods. |
Business Combinations | Business Combinations The September 30, 2020 consolidated financial statements present the combined operations of Ameritrust and Gryphon beginning on March 25, 2020, which is the date a Change of Control effected a new beginning of period. |
Pending Accounting Standards | Pending Accounting Standards In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement ("ASU 2018-13"), which amends disclosure requirements on fair value measurements in Topic 820. This amendment modifies the valuation process of fair value measurements by removing the disclosure requirements for the valuation processes for Level 3 fair value measurements, clarifying the timing of the measurement uncertainty disclosure, and including the changes in unrealized gains and losses for recurring Level 3 fair value measurements in other comprehensive income if held at the end of the reporting period. It also allows the disclosure of other quantitative information in lieu of the weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The amendments in this ASU are effective for fiscal years beginning after December 15, 2019 and should be applied prospectively for the most recent period presented in the initial fiscal year of adoption. The Company is currently evaluating the impact that this guidance will have on the Company's results of operations, financial position and cash flows. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ("ASU 2019-12"), which modifies ASC 740 to reduce complexity while maintaining or improving the usefulness of the information provided to users of financial statements. ASU 2019-12 is effective for the Company for interim and annual reporting periods beginning after December 15, 2021. The Company is currently assessing the impact of ASU 2019-12, but it is not expected to have a material impact on the Company's consolidated financial statement. |
Right of Use Assets and Lease_2
Right of Use Assets and Lease Liabilities (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Right Of Use Assets And Lease Liabilities | |
Operating Lease Right of Use Assets and Lease Liabilities | Operating lease Right of Use Assets and Lease Liabilities were as follows for the year ended September 30, 2020: Right of Use Assets: Operating Right of Use Asset $ 50,715 Right of Use Liabilities: Operating Lease Liability $ 50,715 |
Operating Lease Maturities | As of September 30, 2020, operating lease maturities are as follows: Period Ending September 30, 2021 $ 17,388 2022 17,388 2023 15,939 $ 50,715 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Income Tax Disclosure [Abstract] | |
Deferred tax asset | Significant components of the Company's deferred tax assets are as follows: September 30, 2020 September 30, 2019 Deferred tax assets: Net operating loss carryforwards $ 231,785 $ 157,667 Total deferred tax assets 231,785 157,667 Less: valuation allowance (231,785) (157,667) Net deferred tax asset $ - $ - |
Income tax benefit | The following is a reconciliation between expected income tax benefit and actual, using the applicable statutory income tax rate of 26% and 21% for the years ended September 30, 2020 and 2019, respectively: 2020 2019 Income tax benefit at statutory rate $ 195,056 $ 7,594 Change in valuation allowance (195,056) (7,594) $ - $ - |
Change of Control and Common _2
Change of Control and Common Control Merger (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Change Of Control And Common Control Merger | |
Fair Value of Assets Acquired and Liabilities Assumed in Change of Control | The following is the fair value of the assets acquired and the liabilities assumed in the Change of Control: Assets Goodwill $ 786,136 Total Assets 786,136 Liabilities Accounts Payable 1,159 Accounts Payable - Related Party 28,018 Total Liabilities 29,177 Net Assets $ 756,959 Consideration Cash $ 400,000 Fair value of noncontrolling interest $ 356,959 $ 756,959 |
Book Value of Assets Acquired and Liabilities Assumed | The following is the book value of the assets acquired, and the liabilities assumed in this transaction: Assets Cash $ 3,252,771 Due to Shareholder 84,558 Investment BeeSpoke Capital LLC 65,000 Property and Equipment, net 766,210 Total Assets 4,168,539 Liabilities Total Liabilities - Net Assets $ 4,168,539 |
Subsequent Events (Tables)
Subsequent Events (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Subsequent Events [Abstract] | |
Real Estate Asset Acquisitions | Real Estate Asset Acquisitions On October 20, 2020, the Company issued 7,022,387,818,000 shares of common stock valued at $0.29 per share on the date of issue to related party investors in exchange for development properties comprised of three operating companies, land and buildings. Real estate development consist of residential unit sites and commercial offices. The operating companies lease the land for the residential unit sites under land use right leases with various terms from the Peoples Republic of China (PRC) government. The consolidated financial statements of the operating companies were reviewed as part of the analysis of this subsequent event. The following table summarizes these properties: Acquisition Date Description of property purchased Number of shares issued October 20, 2020 Beijing Meixin Fortune Plaza 483,002,832,900 October 20, 2020 Shenzhen Meixin Fortune Plaza 483,002,832,900 October 20, 2020 Shanghai Meixin Fortune Plaza 477,337,110,500 October 20, 2020 Guangzhou Meixin Fortune Plaza 413,597,733,700 October 20, 2020 Hangzhou Meixin Fortune Plaza 407,932,011,300 October 20, 2020 Liaoning Zhongshuiyatian Industry Co. 355,966,666,600 October 20, 2020 Shenyang Meixin Fortune Plaza 311,614,730,900 October 20, 2020 Chongqing Meixin Fortune Plaza 308,781,869,700 October 20, 2020 Tianjin Meixin Fortune Plaza 308,781,869,700 October 20, 2020 Chengdu Meixin Fortune Plaza 252,124,645,900 October 20, 2020 Nanjing Meixin Fortune Plaza 229,461,756,400 October 20, 2020 Xi'an Meixin Fortune Plaza 223,796,034,000 October 20, 2020 Sanya Meixin Fortune Plaza 223,796,034,000 October 20, 2020 Fuzhou Meixin Fortune Plaza 195,467,422,100 October 20, 2020 Wuhan Meixin Fortune Plaza 195,467,422,100 October 20, 2020 Kunming Meixin Fortune Plaza 174,220,963,200 October 20, 2020 Changsha Meixin Fortune Plaza 174,220,963,200 October 20, 2020 Taiyuan Meixin Fortune Plaza 152,974,504,200 October 20, 2020 Harbin Meixin Fortune Plaza 152,974,504,200 October 20, 2020 Jinan Meixin Fortune Plaza 152,974,504,200 October 20, 2020 Hefei Meixin Fortune Plaza 152,974,504,200 October 20, 2020 Zhengzhou Meixin Fortune Plaza 152,974,504,200 October 20, 2020 Guiyang Meixin Fortune Plaza 152,974,504,200 October 20, 2020 Changchun Meixin Fortune Plaza 150,141,643,100 October 20, 2020 Lanzhou Meixin Fortune Plaza 150,141,643,100 October 20, 2020 Nanning Meixin Fortune Plaza 141,643,059,500 October 20, 2020 Fushun Bank Co., Ltd 141,170,915,900 October 20, 2020 Yinchuan Meixin Fortune Plaza 128,895,184,100 October 20, 2020 Liaoning Pacific Industry Co., Ltd 50,821,529,700 October 20, 2020 Panjin Real Estate Co., Ltd 42,351,274,700 October 20, 2020 Fushun Fortune Plazza Real Estate Co,.Ltd 42,351,274,700 October 20, 2020 Shenyang Haojingxiang Real Estate Co., Ltd 35,292,729,000 October 20, 2020 Liaoning Zhongshuiyatian Industry Co., Ltd. 1,916,902,700 October 20, 2020 Bank of Fushun Co., Ltd 472,143,500 October 20, 2020 Liaoning Medical Center at Dalian 198,300,300 October 20, 2020 Liaoning Pacific Industry Co., Ltd 169,971,600 October 20, 2020 Panjin Real Estate Co., Ltd 141,643,000 October 20, 2020 Fushun Fortune Plazza Real Estate Co,.Ltd 141,643,000 October 20, 2020 Shenyang Haojingxiang Real Estate properties 118,035,800 Shares issued in exchange for properties 7,022,387,818,000 Value of stock on date of issue $ 0.29 Fair Value of shares issued $2,036,492,467,220 On October 20, 2020, the Company issued 217,159,376,133 shares of common stock valued at $0.29 per share on the date of issue for services, as follows: Shares issued for services 217,159,376,133 Value of stock on date of issue $ 0.29 Cost basis of shares issued $62,976,219,079 |
Organizational History and De_2
Organizational History and Description of Business (Details Narrative) - $ / shares | 1 Months Ended | 4 Months Ended | 12 Months Ended | ||||
Jul. 31, 2020 | Apr. 30, 2020 | Mar. 31, 2020 | Jul. 31, 2020 | Sep. 30, 2020 | Sep. 30, 2019 | Jun. 30, 2008 | |
Par value, common stock issue | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.001 | |||
Authorized shares | 410,000,000 | 410,000,000 | |||||
Common stock, shares authorized | 400,000,000 | 400,000,000 | 400,000,000 | ||||
Preferred stock, shares authorized | 10,000,000 | 10,000,000 | |||||
Reverse stock split | 10-1 reverse stock split | 1 for 10 reverse stock split | |||||
Common stock, shares authorized unlimited | Unlimited | ||||||
Preferred stock, shares authorized unlimited | Unlimited | ||||||
Mr. Seong Y. Lee [Member] | |||||||
Shares issue | 142,500,000 | ||||||
Per share price | $ 0.0028 | ||||||
Tourmeline Ventures, LLC [Member] | Mr. Seong Y. Lee [Member] | Common Stock [Member] | |||||||
Shares issue | 142,500,000 | ||||||
Tourmeline Ventures, LLC [Member] | Mr. Seong Y. Lee [Member] | Common Stock [Member] | |||||||
Per share price | $ 0.0028 | ||||||
Panko Financial Corporation [Member] | |||||||
Common stock, shares authorized | 380,000 | ||||||
Americorp, Inc. [Member] | |||||||
Authorized shares | 10,000,100,000,000 | ||||||
Par value of authorized shares | $ 0.01 | ||||||
Common stock, shares authorized | 10,000,000,000,000 | ||||||
Preferred stock, shares authorized | 100,000,000 | ||||||
Common stock, shares authorized unlimited | Unlimited | ||||||
Preferred stock, shares authorized unlimited | Unlimited |
Liquidity (Details Narrative)
Liquidity (Details Narrative) - USD ($) | 12 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
Cash | $ 2,551,600 | ||
Operating loss | $ 782,000 | $ 20,409 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details Narrative) | 12 Months Ended |
Sep. 30, 2020 | |
Accounting Policies [Abstract] | |
Lease expiry date | Aug. 31, 2023 |
Real Estate Property Under De_2
Real Estate Property Under Development (Details Narrative) | 12 Months Ended |
Sep. 30, 2020USD ($)a | |
Real Estate Property Under Development | |
Area of land purchased | a | 23.45 |
Purchase price of land | $ | $ 766,210 |
Right of Use Assets and Lease_3
Right of Use Assets and Lease Liabilities - Operating Lease Right of Use Assets and Lease Liabilities (Details) - USD ($) | Sep. 30, 2020 | Sep. 30, 2019 |
Right of Use Assets: | ||
Operating Right of Use Asset | $ 50,715 | |
Right of Use Liabilities: | ||
Operating Lease Liability | $ 50,715 |
Right of Use Assets and Lease_4
Right of Use Assets and Lease Liabilities - Operating Lease Maturities (Details) | Sep. 30, 2020USD ($) |
Period Ending September 30, | |
2021 | $ 17,388 |
2022 | 17,388 |
2023 | 15,939 |
Total operating lease liability | $ 50,715 |
Right of Use Assets and Lease_5
Right of Use Assets and Lease Liabilities (Details Nrrative) | 12 Months Ended |
Sep. 30, 2020USD ($) | |
Right Of Use Assets And Lease Liabilities | |
Lease expiry date | Aug. 31, 2023 |
Lease monthly payments | $ 1,449 |
Lease term | 3 years |
Equity (Details Narrative)
Equity (Details Narrative) - $ / shares | 1 Months Ended | 4 Months Ended | 12 Months Ended | |
Jul. 31, 2020 | Jul. 31, 2020 | Sep. 30, 2020 | Sep. 30, 2019 | |
Equity [Abstract] | ||||
Authorized shares | 410,000,000 | 410,000,000 | ||
Common stock, shares authorized | 400,000,000 | 400,000,000 | 400,000,000 | |
Par value, common stock issue | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.001 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 | ||
Preferred stock, par value (in Dollars per share) | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 |
Reverse stock split | 10-1 reverse stock split | 1 for 10 reverse stock split | ||
Common stock, shares authorized unlimited | Unlimited | |||
Preferred stock, shares authorized unlimited | Unlimited | |||
Common stock, shares issued | 26,767,818 | 267,675,000 | ||
Common stock, outstanding | 26,767,818 | 267,675,000 | ||
Preferred stock, shares issued | ||||
Preferred stock, outstanding |
Income Taxes - Deferred tax ass
Income Taxes - Deferred tax asset (Details) - USD ($) | Sep. 30, 2020 | Sep. 30, 2019 |
Deferred tax assets: | ||
Net operating loss carryforwards | $ 231,785 | $ 157,667 |
Total deferred tax assets | 231,785 | 157,667 |
Less: valuation allowance | (231,785) | (157,667) |
Net deferred tax asset |
Income Taxes - Income tax benef
Income Taxes - Income tax benefit (Details) - USD ($) | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Income Tax Disclosure [Abstract] | ||
Income tax benefit at statutory rate | $ 195,056 | $ 7,594 |
Change in valuation allowance | (195,056) | (7,594) |
Income tax benefit |
Income Taxes (Details Narrative
Income Taxes (Details Narrative) - USD ($) | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Income Tax Disclosure [Abstract] | ||
Valuation allowance for deferred tax assets | $ 76,459 | |
Operating loss carry forwards | $ 900,484 | |
Statutory income tax rate | 26.00% | 21.00% |
Income Tax Examination, Description | The Company's income tax returns generally remain open for examination for three years from the date filed with each taxing jurisdiction. |
Related Party (Details Narrativ
Related Party (Details Narrative) - USD ($) | 12 Months Ended | 22 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Jun. 30, 2020 | Mar. 31, 2019 | |
Proceeds from Note Payable - Related Party | $ 33,004 | |||
Beneficial Conversion Feature | (15,000) | |||
Notes Payable - Related Party | 17,798 | |||
Interest Payable - Related Party | (549) | 549 | ||
Stock Issuance for Cancellation of Debt, amount | 21,161 | |||
Related party accounts receivable | 5,992 | |||
Debt forgiven amount | 31,988 | |||
Interest payable | $ 549 | |||
Related Party 1 [Member] | ||||
Date of Transaction | Sep. 1, 2019 | |||
Promissory Note | $ 3,500 | |||
Related Party 2 [Member] | ||||
Professional fees | $ 7,000 | |||
Interest rate | 10.00% | |||
Convertible notes payable | $ 3,000 | $ 4,000 | ||
Related Party 2 [Member] | Minimum [Member] | ||||
Date of Transaction | Sep. 30, 2018 | |||
Related Party 2 [Member] | Maximum [Member] | ||||
Date of Transaction | Jun. 30, 2020 | |||
Related Party 3 [Member] | ||||
Date of Transaction | Dec. 1, 2018 | |||
Promissory Note | $ 5,000 | |||
Interest rate | 10.00% | |||
Convertible debt. per share | $ 0.0001 | |||
Beneficial Conversion Feature | $ 5,000 | |||
Notes Payable - Related Party | 0 | |||
Interest Payable - Related Party | $ 0 | |||
Related Party 4 [Member] | ||||
Date of Transaction | Jan. 1, 2019 | |||
Promissory Note | $ 10,000 | |||
Interest rate | 10.00% | |||
Convertible debt. per share | $ 0.0001 | |||
Beneficial Conversion Feature | $ 10,000 | |||
Notes Payable - Related Party | 0 | |||
Interest Payable - Related Party | $ 0 | |||
Stock Issuance for Cancellation of Debt, shares | 150,000,000 | |||
Stock Issuance for Cancellation of Debt, amount | $ 21,161 | |||
Related Party 5 [Member] | ||||
Date of Transaction | Mar. 1, 2019 | |||
Promissory Note | $ 4,000 | |||
Promissory Note | $ 2,794 | |||
Interest rate | 10.00% | |||
Related Party 6 [Member] | ||||
Date of Transaction | Jun. 1, 2019 | |||
Promissory Note | $ 5,000 | |||
Promissory Note | $ 354 | |||
Interest rate | 10.00% | |||
Related Party 7 [Member] | ||||
Date of Transaction | Jul. 1, 2019 | |||
Promissory Note | $ 2,150 | |||
Interest rate | 10.00% | |||
Related Party 8 [Member] | ||||
Date of Transaction | Dec. 31, 2019 | |||
Promissory Note | $ 7,247 |
Change of Control and Common _3
Change of Control and Common Control Merger - Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) | Sep. 30, 2020 | Sep. 30, 2019 |
Assets | ||
Goodwill | $ 786,136 | |
TOTAL ASSETS | 4,225,653 | |
Liabilities | ||
Accounts Payable | 24,754 | 5,250 |
Accounts Payable - Related Party | 1,500 | |
Total Liabilities | 75,469 | $ 25,097 |
Mr. Seong Y. Lee [Member] | ||
Assets | ||
Goodwill | 786,136 | |
TOTAL ASSETS | 786,136 | |
Liabilities | ||
Accounts Payable | 1,159 | |
Accounts Payable - Related Party | 28,018 | |
Total Liabilities | 29,177 | |
Net Assets | 756,959 | |
Consideration | ||
Cash | 400,000 | |
Fair value of noncontrolling interest | 356,959 | |
Total Consideration | $ 756,959 |
Change of Control and Common _4
Change of Control and Common Control Merger - Book Value of Assets Acquired and Liabilities Assumed (Details) - AMGA [Member] | Sep. 30, 2020USD ($) |
Assets | |
Cash | $ 3,252,771 |
Due to Shareholder | 84,558 |
Investment BeeSpoke Capital LLC | 65,000 |
Property and Equipment, net | 766,210 |
Total Assets | 4,168,539 |
Liabilities | |
Total Liabilities | |
Net Assets | $ 4,168,539 |
Change of Control and Common _5
Change of Control and Common Control Merger (Details Narratives) - Mr. Seong Y. Lee [Member] | 1 Months Ended |
Mar. 31, 2020$ / sharesshares | |
Business Acquisition, Equity Interests Issued or Issuable [Line Items] | |
Issue shares of common stock | shares | 142,500,000 |
Equity ownership interest percentage | 53.00% |
Per share price | $ / shares | $ 0.0028 |
Material Agreements (Details Na
Material Agreements (Details Narrative) - USD ($) | 1 Months Ended | ||
Jul. 31, 2020 | Sep. 30, 2020 | Sep. 30, 2019 | |
Purchase Commitment, Excluding Long-term Commitment [Line Items] | |||
Amount due to the seller | $ 1,500 | ||
Blue Diamond Ranch [Member] | |||
Purchase Commitment, Excluding Long-term Commitment [Line Items] | |||
Purchase price of assets | $ 15,000,000 | ||
Escrow deposit | 500,000 | ||
Amount due to the seller | 14,500,000 | ||
Forfeited amount of deposit | $ 500,000 |
Subsequent Events - Real Estate
Subsequent Events - Real Estate Asset Acquisitions (Details) - Subsequent Event [Member] | 1 Months Ended |
Oct. 31, 2020USD ($)$ / sharesshares | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 7,022,387,818,000 |
Value of stock on date of issue | $ / shares | $ 0.29 |
Fair Value of shares issued | $ | $ 2,036,492,467,220 |
Shares issued for services | 217,159,376,133 |
Cost basis of shares issued | $ | $ 62,976,219,079 |
Real Estate Asset Acquisitions One [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 483,002,832,900 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Beijing Meixin Fortune Plaza |
Real Estate Asset Acquisitions Two [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 483,002,832,900 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Shenzhen Meixin Fortune Plaza |
Real Estate Asset Acquisitions Three [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 477,337,110,500 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Shanghai Meixin Fortune Plaza |
Real Estate Asset Acquisitions Four [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 413,597,733,700 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Guangzhou Meixin Fortune Plaza |
Real Estate Asset Acquisitions Five [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 407,932,011,300 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Hangzhou Meixin Fortune Plaza |
Real Estate Asset Acquisitions Six [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 355,966,666,600 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Liaoning Zhongshuiyatian Industry Co. |
Real Estate Asset Acquisitions Seven [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 311,614,730,900 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Shenyang Meixin Fortune Plaza |
Real Estate Asset Acquisitions Eight [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 308,781,869,700 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Chongqing Meixin Fortune Plaza |
Real Estate Asset Acquisitions Nine [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 308,781,869,700 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Tianjin Meixin Fortune Plaza |
Real Estate Asset Acquisitions Ten [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 252,124,645,900 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Chengdu Meixin Fortune Plaza |
Real Estate Asset Acquisitions Eleven [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 229,461,756,400 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Nanjing Meixin Fortune Plaza |
Real Estate Asset Acquisitions Twelve [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 223,796,034,000 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Xi'an Meixin Fortune Plaza |
Real Estate Asset Acquisitions Thirteen [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 223,796,034,000 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Sanya Meixin Fortune Plaza |
Real Estate Asset Acquisitions Fourteen [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 195,467,422,100 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Fuzhou Meixin Fortune Plaza |
Real Estate Asset Acquisitions Fifteen [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 195,467,422,100 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Wuhan Meixin Fortune Plaza |
Real Estate Asset Acquisitions Sixteen [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 174,220,963,200 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Kunming Meixin Fortune Plaza |
Real Estate Asset Acquisitions Seventeen [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 174,220,963,200 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Changsha Meixin Fortune Plaza |
Real Estate Asset Acquisitions Eighteen [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 152,974,504,200 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Taiyuan Meixin Fortune Plaza |
Real Estate Asset Acquisitions Nineteen [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 152,974,504,200 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Harbin Meixin Fortune Plaza |
Real Estate Asset Acquisitions Twenty [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 152,974,504,200 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Jinan Meixin Fortune Plaza |
Real Estate Asset Acquisitions Twenty One [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 152,974,504,200 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Hefei Meixin Fortune Plaza |
Real Estate Asset Acquisitions Twenty Two [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 152,974,504,200 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Zhengzhou Meixin Fortune Plaza |
Real Estate Asset Acquisitions Twenty Three [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 152,974,504,200 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Guiyang Meixin Fortune Plaza |
Real Estate Asset Acquisitions Twenty Four [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 150,141,643,100 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Changchun Meixin Fortune Plaza |
Real Estate Asset Acquisitions Twenty Five [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 150,141,643,100 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Lanzhou Meixin Fortune Plaza |
Real Estate Asset Acquisitions Twenty Six [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 141,643,059,500 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Nanning Meixin Fortune Plaza |
Real Estate Asset Acquisitions Twenty Seven [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 141,170,915,900 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Fushun Bank Co., Ltd |
Real Estate Asset Acquisitions Twenty Eight [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 128,895,184,100 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Yinchuan Meixin Fortune Plaza |
Real Estate Asset Acquisitions Twenty Nine [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 50,821,529,700 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Liaoning Pacific Industry Co., Ltd |
Real Estate Asset Acquisitions Thirty [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 42,351,274,700 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Panjin Real Estate Co., Ltd |
Real Estate Asset Acquisitions Thirty One [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 42,351,274,700 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Fushun Fortune Plazza Real Estate Co,.Ltd |
Real Estate Asset Acquisitions Thirty Two [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 35,292,729,000 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Shenyang Haojingxiang Real Estate Co., Ltd |
Real Estate Asset Acquisitions Thirty Three [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 1,916,902,700 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Liaoning Zhongshuiyatian Industry Co., Ltd. |
Real Estate Asset Acquisitions Thirty Four [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 472,143,500 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Bank of Fushun Co., Ltd |
Real Estate Asset Acquisitions Thirty Five [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 198,300,300 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Liaoning Medical Center at Dalian |
Real Estate Asset Acquisitions Thirty Six [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 169,971,600 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Liaoning Pacific Industry Co., Ltd |
Real Estate Asset Acquisitions Thirty Seven [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 141,643,000 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Panjin Real Estate Co., Ltd |
Real Estate Asset Acquisitions Thirty Eight [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 141,643,000 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Fushun Fortune Plazza Real Estate Co,.Ltd |
Real Estate Asset Acquisitions Thirty Nine [Member] | |
Subsequent Event [Line Items] | |
Shares issued in exchange for properties | 118,035,800 |
Acquisition Date | Oct. 20, 2020 |
Description of property purchased | Shenyang Haojingxiang Real Estate properties |