| Organization and basis of accounting | Note
1 – Organization and basis of accounting Basis
of Presentation and Organization Shentang
International, Inc. ("we" or the "Company") was incorporated in the State of Nevada on June 29, 2007.
We were an exploration-stage company engaged in the exploration of mineral resource properties. On
July 22, 2009, Shentang International conducted a 1-to-10 stock split (the "Stock Split") of the issued and outstanding
common stock, so the Company's issued and outstanding shares increased from 1,670,000 to 16,700,000 with par value
of $0.001. Immediately after the Stock Split on July 22, 2009, Shentang International entered into a Share Exchange Agreement
(the "Exchange Agreement") with Boom Spring, the shareholders of Boom Spring, and Shengtang. Pursuant to the terms
of the Exchange Agreement, the shareholders of Boom Spring transferred to Shentang International all of the equity interest of
Boom Spring in exchange for 12,000,000 outstanding shares of Shentang International and 33,300,000 newly issued shares
of Shentang International (the "Share Exchange"). As a result of the Share Exchange, Boom Spring became a wholly owned
subsidiary of Shentang International and Shentang International became a holding company with issued and outstanding common stock
of 50,000,000 with par value of $0.001. Pursuant
to a board resolution dated October 21, 2009, the Company increased its authorized number of common stock from 50,000,000 to 190,000,000,
and conducted a 2-for-5 reverse stock split (the "Reverse Stock Split") of the issued and outstanding common stock.
After the Reverse Stock Split, the Company's issued and outstanding shares changed from 50,000,000 to 20,000,000 with par
value of $0.001 effective on October 21, 2009. This reverse stock split also give retroactive effect in the balance
sheet as of December 31, 2008 and the computation of basic and diluted EPS is adjusted retroactively for all period presented
accordingly. Hereinafter,
Shentang International, Boom Spring and Shengtang are collectively referred to as the "Company". The
Company had exclusive use of the core technologies, including hollow/solid glass processing technology, pure manual glass rod
processing technology, wire processing technology and painting processing technology. It developed "Yi Fan Feng Shun"
liquor vessel with the brand of Wu Liang Ye. The Company was engaged in expanding in the international market. The Company also
planned to build or acquire its own production capacity to meet the demand in the domestic Chinese market by purchasing or acquiring
new equipment of machine-made glass producing. The objective of the Company was to become a large-scaled glass craftwork
supplier and further develop its innovational technology. On
May 11, 2018, the eight judicial District Court of Nevada appointed Custodian Ventures, LLC as custodian for Shentang International
Inc., proper notice having been given to the officers and directors of Shentang International, Inc. There was no opposition. On
May 16, 2018, the Company filed a certificate of revival with the state of Nevada, appointing David Lazar as, President, Secretary,
Treasurer and Director. On
July 2, 2018, the Company terminated its registration with the Securities and Exchange Commission. On
August 2, 2018, the Company filed a Form 10-12G, which went effective on October 1, 2018. On
November 19, 2019, the Company board of directors determined that it is their best interest to redeem the 27,000,000 shares of
common stock, held by David Lazar in exchange for services valued at $1,400,000. In addition, the company elected to cancel and
return to the shareholder the promissory note dated May 31, 2018 in the amount of $7,500 including interest. The company shall
also pay the additional amount of $19,168.97 by issuance of a promissory note. The
accompanying financial statements are prepared on the basis of accounting principles generally accepted in the United States of
America ("GAAP"). The Company is a development stage enterprise devoting substantial efforts to establishing a new
business, financial planning, raising capital, and research into products which may become part of the Company's product
portfolio. The Company has not realized significant sales through since inception. A development stage company is defined as one
in which all efforts are devoted substantially to establishing a new business and, even if planned principal operations have commenced,
revenues are insignificant. The
accompanying financial statements have been prepared assuming the continuation of the Company as a going concern. The Company
has not yet established an ongoing source of revenues sufficient to cover its operating costs and is dependent on debt and equity
financing to fund its operations. Management of the Company is making efforts to raise additional funding until a registration
statement relating to an equity funding facility is in effect. While management of the Company believes that it will be successful
in its capital formation and planned operating activities, there can be no assurance that the Company will be able to raise additional
equity capital, or be successful in the development and commercialization of the products it develops or initiates collaboration
agreements thereon. The accompanying financial statements do not include any adjustments to reflect the possible future effects
on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the possible
inability of the Company to continue as a going concern. |
