Cover
Cover - shares | 6 Months Ended | |
Sep. 30, 2023 | Dec. 11, 2023 | |
Cover [Abstract] | ||
Entity Registrant Name | RANGER GOLD CORP. | |
Entity Central Index Key | 0001434740 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Current Fiscal Year End Date | --03-31 | |
Entity Small Business | true | |
Entity Shell Company | true | |
Entity Emerging Growth Company | false | |
Entity Current Reporting Status | No | |
Document Period End Date | Sep. 30, 2023 | |
Entity Filer Category | Non-accelerated Filer | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2024 | |
Entity Common Stock Shares Outstanding | 248,020,000 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity File Number | 000-53817 | |
Entity Incorporation State Country Code | NV | |
Entity Tax Identification Number | 74-3206736 | |
Entity Address Address Line 1 | 20 West Park Avenue | |
Entity Address Address Line 2 | Suite 201 | |
Entity Address City Or Town | Long Beach | |
Entity Address State Or Province | NY | |
Entity Address Postal Zip Code | 11561 | |
City Area Code | 516 | |
Local Phone Number | 442-1883 | |
Entity Interactive Data Current | No |
Balance Sheets
Balance Sheets - USD ($) | Sep. 30, 2023 | Mar. 31, 2023 |
Balance Sheets | ||
CURRENT ASSETS | $ 0 | $ 0 |
TOTAL CURRENT ASSETS | 0 | 0 |
TOTAL ASSETS | 0 | 0 |
CURRENT LIABILITIES | ||
Accounts Payable | 2,243 | 3,243 |
TOTAL CURRENT LIABILITIES | 2,243 | 3,243 |
TOTAL LIABILITIES | 2,243 | 3,243 |
COMMITMENTS AND CONTINGENCIES | 0 | 0 |
STOCKHOLDER'S EQUITY | ||
Common stock ($0.0001 par value; 500,000,000 shares authorized; 248,020,000 and 248,020,000 shares issued and outstanding at September 30, 2023 and March 31, 2023, respectively) | 24,802 | 24,802 |
Preferred stock ($0.0001 par value; 5,000,000 shares authorized; no shares issued and outstanding at September 30, 2023 and March 31, 2023, respectively) | 0 | 0 |
Additional Paid in Capital | 1,110,684 | 1,097,084 |
Accumulated Deficit | (1,137,729) | (1,125,129) |
TOTAL STOCKHOLDER'S EQUITY (DEFICIT) | (2,243) | (3,243) |
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY/(DEFICIT) | $ 0 | $ 0 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 2023 | Mar. 31, 2023 |
Balance Sheets | ||
Common Stock, par value | $ 0.0001 | $ 0.0001 |
Common Stock, shares authorized | 500,000,000 | 500,000,000 |
Common Stock, shares issued | 248,020,000 | 248,020,000 |
Common Stock, shares outstanding | 248,020,000 | 248,020,000 |
Preferred Stock, par value | $ 0.0001 | $ 0.0001 |
Preferred Stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred Stock, shares issued | 0 | 0 |
Preferred Stock, shares outstanding | 0 | 0 |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Statements of Operations (Unaudited) | ||||
Sales | $ 0 | $ 0 | $ 0 | $ 0 |
Total Revenue | 0 | 0 | 0 | 0 |
EXPENSES: | ||||
Selling, General and Administrative | 0 | 0 | 0 | 0 |
Filing Fees | 0 | 259 | 0 | 748 |
Professional Fees | 5,950 | 3,300 | 12,600 | 11,785 |
Total Expense | 5,950 | 3,559 | 12,600 | 12,533 |
Loss from operations | (5,950) | (3,559) | (12,600) | (12,533) |
Provision for Income Taxes | 0 | 0 | 0 | 0 |
NET LOSS | $ (5,950) | $ (3,559) | $ (12,600) | $ (12,533) |
Weighted average common shares outstanding, basic and fully diluted | 248,020,000 | 248,020,000 | 248,020,000 | 248,020,000 |
Basic and fully diluted net loss per common share: | $ 0 | $ 0 | $ 0 | $ 0 |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Sep. 30, 2023 | Jun. 30, 2023 | Sep. 30, 2022 | Jun. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||
Net loss | $ (5,950) | $ (6,650) | $ (3,559) | $ (8,974) | $ (12,600) | $ (12,533) |
Changes in Assets and Liabilities: | ||||||
Increase (decrease) in Accounts Payable and Other Accruals | (1,000) | 2,159 | ||||
Increase (decrease) in Accrued Interest Expense | 0 | 0 | ||||
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | (13,600) | (10,374) | ||||
CASH FLOWS TO/(FROM) FINANCING ACTIVITIES: | ||||||
Contributions of Capital by Major Shareholder | 13,600 | 10,374 | ||||
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | 13,600 | 10,374 | ||||
NET INCREASE(DECREASE) IN CASH AND CASH EQUIVALENTS | 0 | 0 | ||||
CASH AND CASH EQUIVALENTS, | ||||||
BEGINNING OF THE PERIOD | $ 0 | $ 0 | 0 | 0 | ||
END OF THE PERIOD | $ 0 | $ 0 | 0 | 0 | ||
CASH PAID DURING THE PERIOD FOR: | ||||||
Interest | 0 | 0 | ||||
Taxes | $ 0 | $ 0 |
Statement of Stockholders' Equi
Statement of Stockholders' Equity (Unaudited) - USD ($) | Total | Common Stock | Additional Paid-In Capital | Retained Earnings (Accumulated Deficit) |
Balance, shares at Mar. 31, 2022 | 248,020,000 | |||
Balance, amount at Mar. 31, 2022 | $ 0 | $ 24,802 | $ 1,078,823 | $ (1,103,625) |
Capital Contributions | 4,874 | 0 | 4,874 | 0 |
Net Loss | (8,974) | $ 0 | 0 | (8,974) |
Balance, shares at Jun. 30, 2022 | 248,020,000 | |||
Balance, amount at Jun. 30, 2022 | (4,100) | $ 24,802 | 1,083,697 | (1,112,599) |
Balance, shares at Mar. 31, 2022 | 248,020,000 | |||
Balance, amount at Mar. 31, 2022 | 0 | $ 24,802 | 1,078,823 | (1,103,625) |
Net Loss | (12,533) | |||
Balance, shares at Sep. 30, 2022 | 248,020,000 | |||
Balance, amount at Sep. 30, 2022 | (2,159) | $ 24,802 | 1,089,197 | (11,116,158) |
Balance, shares at Jun. 30, 2022 | 248,020,000 | |||
Balance, amount at Jun. 30, 2022 | (4,100) | $ 24,802 | 1,083,697 | (1,112,599) |
Capital Contributions | 5,500 | 0 | 5,500 | 0 |
Net Loss | (3,559) | $ 0 | 0 | (3,559) |
Balance, shares at Sep. 30, 2022 | 248,020,000 | |||
Balance, amount at Sep. 30, 2022 | (2,159) | $ 24,802 | 1,089,197 | (11,116,158) |
Balance, shares at Mar. 31, 2023 | 248,020,000 | |||
Balance, amount at Mar. 31, 2023 | (3,243) | $ 24,802 | 1,097,084 | (1,125,129) |
Capital Contributions | 7,650 | 0 | 7,650 | 0 |
Net Loss | (6,650) | $ 0 | 0 | (6,650) |
Balance, shares at Jun. 30, 2023 | 248,020,000 | |||
Balance, amount at Jun. 30, 2023 | (2,243) | $ 24,802 | 1,104,734 | (1,131,779) |
Balance, shares at Mar. 31, 2023 | 248,020,000 | |||
Balance, amount at Mar. 31, 2023 | (3,243) | $ 24,802 | 1,097,084 | (1,125,129) |
Net Loss | (12,600) | |||
Balance, shares at Sep. 30, 2023 | 248,020,000 | |||
Balance, amount at Sep. 30, 2023 | (2,243) | $ 24,802 | 1,110,684 | (1,137,729) |
Balance, shares at Jun. 30, 2023 | 248,020,000 | |||
Balance, amount at Jun. 30, 2023 | (2,243) | $ 24,802 | 1,104,734 | (1,131,779) |
Capital Contributions | 5,950 | 0 | 5,950 | 0 |
Net Loss | (5,950) | $ 0 | 0 | (5,950) |
Balance, shares at Sep. 30, 2023 | 248,020,000 | |||
Balance, amount at Sep. 30, 2023 | $ (2,243) | $ 24,802 | $ 1,110,684 | $ (1,137,729) |
BUSINESS ACTIVITY
BUSINESS ACTIVITY | 6 Months Ended |
Sep. 30, 2023 | |
BUSINESS ACTIVITY | |
BUSINESS ACTIVITY | NOTE A—BUSINESS ACTIVITY Ranger Gold Corp. (the “Company”) was incorporated on May 11, 2007 under the laws of the State of Nevada under the name Fenario, Inc. On October 28, 2009, the Company amended its Articles of Incorporation for the purpose of changing the name of the Company from “Fenario, Inc.” to “Ranger Gold Corp.” The Company was dormant from 2013 until late 2018 when Bryan Glass petitioned to become the custodian of the Company and reinstated the Company. In January of 2019, the courts approved the custodianship, and the Company was reinstated as a corporation in the State of Nevada. The Company filed a registration statement on Form 10 that went effective under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), on August 29, 2022 and the Company has been filing reports under the Exchange Act since. The Company’s year-end is March 31 st The Company's offices are located at 20 West Park Avenue, Suite 201 Long Beach, NY 11561. The accounting policies conform to generally accepted accounting principles in the United States and have been consistently applied in the preparation of the financial statements. |
GOING CONCERN
GOING CONCERN | 6 Months Ended |
Sep. 30, 2023 | |
GOING CONCERN | |
GOING CONCERN | NOTE B—GOING CONCERN The accompanying financial statements have been prepared on a going concern basis, which assumes the Company will realize its assets and discharge its liabilities in the normal course of business. As reflected in the accompanying financial statements, the Company has a deficit accumulated of $1,137,729 and cash used in operations of $13,600 at the period ended September 30, 2023. The Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. These circumstances raise substantial doubt about the Company’s ability to continue as a going concern for the 12 months from the date when these financial statements were issued. The accompanying financial statements do not include any adjustments that might arise because of this uncertainty. To address these aforementioned, management has undertaken the following initiatives: 1) enter into discussions to secure additional equity funding from current or new shareholders; 2) undertake a program to continue to monitor the Company’s ongoing working capital requirements and minimum expenditure commitments; 3) continue their focus on maintaining an appropriate level of corporate overhead in line with the Company’s available cash resources. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Sep. 30, 2023 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE C—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation- The financial statements included herein were prepared under Generally Accepted Accounting Principles (GAAP). All adjustments have been made which in the opinion of management are necessary, normal, and recurring in nature for presentation. Interim filings should be read in conjunction with the Company’s annual report as of March 31, 2023. Cash and Cash Equivalents- For purposes of the Statement of Cash Flows, the Company considers liquid investments with an original maturity of three months or less to be cash equivalents. Management’s Use of Estimates- The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The financial statements above reflect all of the costs of doing business. Revenue Recognition- On May 28, 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers, Topic 606 (“ASC 606”), requiring an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The new revenue standard replaces most existing revenue recognition guidance in GAAP and permits the use of either the full retrospective or modified retrospective transition method. The Company adopted this standard using the modified basis effective January 1, 2019 and given the Company's limited revenue, the modified retrospective basis has no material impact on prior years given the limited revenue. Comprehensive Income (Loss) - The Company reports Comprehensive income and its components following guidance set forth by section 220-10 of the FASB Accounting Standards Codification which establishes standards for the reporting and display of comprehensive income and its components in the financial statements. There were no items of comprehensive income (loss) applicable to the Company during the period covered in the financial statements. Net Income per Common Share- Net loss per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted average number of shares of common stock and potentially outstanding shares of common stock during each period. Deferred Taxes-The Company accounts for income taxes under Section 740-10-30 of the FASB Accounting Standards Codification. Deferred income tax assets and liabilities are determined based upon differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statements of operations in the period that includes the enactment date. Fair Value of Financial Instruments-The carrying amounts reported in the balance sheet for cash, accounts receivable and accounts payable approximate fair value based on the short-term maturity of these instruments. Accounts Receivable-Accounts deemed uncollectible are written off in the year they become uncollectible. As of September 30, 2023, and September 30, 2022, the balance in Accounts Receivable was $0 and $0. Impairment of Long-Lived Assets- The Company evaluates the recoverability of its fixed assets and other assets in accordance with section 360-10-15 of the FASB Accounting Standards Codification for disclosures about Impairment or Disposal of Long-Lived Assets. Disclosure requires recognition of impairment of long-lived assets in the event the net book value of such assets exceeds its expected cash flows. If so, it is impaired and is written down to fair value, which is determined based on either discounted future cash flows or appraised values. The Company adopted the statement on inception. No impairments of these types of assets were recognized during the periods ended September 30, 2023, and September 30, 2022. Stock-Based Compensation-The Company accounts for stock-based compensation using the fair value method following the guidance set forth in section 718-10 of the FASB Accounting Standards Codification for disclosure about Stock-Based Compensation. This section requires a public entity to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award (with limited exceptions). That cost will be recognized over the period during which an employee is required to provide service in exchange for the award- the requisite service period (usually the vesting period). No compensation cost is recognized for equity instruments for which employees do not render the requisite service. Fair Value for Financial Assets and Financial Liabilities- The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value in accounting principles generally accepted in the United States of America (U.S. GAAP) and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below: Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3 Pricing inputs that are generally unobservable inputs and not corroborated by market data. The carrying amounts of the Company’s financial assets and liabilities, such as cash and accrued expenses, approximate their fair values because of the short maturity of these instruments. The Company’s note payable would approximate the fair value of such instrument based upon management’s best estimate of interest rates that would be available to the Company for similar financial arrangement at the periods ended September 30, 2023 and September 30, 2022. The Company does not have any assets or liabilities measured at fair value on a recurring or a non-recurring basis, consequently, the Company did not have any fair value adjustments for assets and liabilities measured at fair value at September 30, 2023, nor gains or losses are reported in the statement of operations that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date for the periods ended September 30, 2023 and September 30, 2022. Recently Issued Accounting Pronouncements The FASB recently issued Accounting Standard Update (ASU) 2021-012 to clarify that all derivative instruments affected by changes to the interest rates used for discounting, margining, or contract price alignment (commonly referred to as the discounting transition) are in the scope of ASC 848. The amendments also clarify other aspects of the guidance in ASC 848 and addresses the effects of the cash compensation adjustment provided in the discounting transition on certain aspects of hedge accounting. The guidance in ASC 848 also allows entities to make a one-time election to sell and/or transfer to available for sale or trading any held-to-maturity (HTM) debt securities that refer to an interest rate affected by reference rate reform and were classified as held to maturity before 1 January 2020. The adoption of this standard did not have a material impact on the Company’s financial position and results of operations. Other pronouncements issued by the FASB or other authoritative accounting standards groups with future effective dates are either not applicable or are not expected to be significant to the Company’s financial position, results of operations or cash flows. |
SEGMENT REPORTING
SEGMENT REPORTING | 6 Months Ended |
Sep. 30, 2023 | |
SEGMENT REPORTING | NOTE D-SEGMENT REPORTING The Company follows the guidance set forth by section 280-10 of the FASB Accounting Standards Codification for reporting and disclosure on operating segments of the Company. It also requires segment disclosures about products and services, geographic areas, and major customers. The Company determined that it did not have any separately reportable operating segments as of September 30, 2023, and September 30, 2022. |
CAPITAL STOCK
CAPITAL STOCK | 6 Months Ended |
Sep. 30, 2023 | |
CAPITAL STOCK | |
CAPITAL STOCK | NOTE E-CAPITAL STOCK The Company is authorized to issue 500,000,000 Common Shares at $.0001 par value per share. The Company is authorized to issue 5,000,000 Preferred Shares at $.0001 par value per share. Total issued and outstanding shares of common stock is 248,020,000 and 248,020,000 as of September 30, 2023, and September 30, 2022, respectively. During the year ended March 31, 2023, no shares were issued. During the quarter ended June 30, 2023, no shares were issued. During the quarter ended September 30, 2023, no shares were issued. Capital Contributions During the six months ended September 30, 2023, $13,600 in capital contributions were made and during the six months ended September 30, 2022, $10,374 in capital contributions were made. |
CORRECTION OF AN ERRORPRIOR PER
CORRECTION OF AN ERRORPRIOR PERIOD RESTATEMENT | 6 Months Ended |
Sep. 30, 2023 | |
CORRECTION OF AN ERRORPRIOR PERIOD RESTATEMENT | |
CORRECTION OF AN ERROR/PRIOR PERIOD RESTATEMENT | NOTE F—CORRECTION OF AN ERROR/PRIOR PERIOD RESTATEMENT During our year-end reconciliation/close-out and subsequent audit, Management discovered that Accounts Payable amounts owed to Vendors and the related expenses incurred were incorrect in 2022. Some vendors had been paid outside of the bank account and directly by the owner which should have been recorded as an addition to the Additional Paid in Capital. In addition, some unpaid vendor invoices were not billed to Accounts Payable. Per ASC 250-10, since the error correction is material and material to financial statements previously issued, Management promptly corrected the errors and restated previously issued financial statements. Below are tables of the September 30, 2022 accounts impacted by the correction of the error: September 30, 2022 Originally Reported 2022 Restated Amount of Change Expenses: Filing Fees 627 748 (121 ) Professional Fees 7,995 11,785 (3,790 ) Total Expenses 8,622 12,533 (3,911 ) NET LOSS (8,622 ) (12,533 ) 3,911 September 30, 2022 Originally Reported 2022 Restated Amount of Change Accounts Payable - 2,159 (2,159 ) TOTAL LIABILITIES - 2,159 (2,159 ) Common Stock 24,802 24,802 - Additional Paid in Capital 1,068,920 1,089,197 (20,277 ) Accumulated Deficit (1,093,722 ) (1,116,158 ) 22,436 TOTAL STOCKHOLDER'S EQUITY (DEFICIT) - (2,159 ) 2,159 TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY/(DEFICIT) - - - |
INCOME TAX
INCOME TAX | 6 Months Ended |
Sep. 30, 2023 | |
INCOME TAX | |
INCOME TAX | NOTE G – INCOME TAX The Company provides for income taxes under (now included under Accounting Standards Codification (ASC), 740), Accounting for Income Taxes. ASC 740 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect when these differences are expected to reverse. ASC 740 requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all the deferred tax assets will not be realized. For Federal income tax purposes, the Company has net operating loss carry forwards that expire through 2030. The net operating loss carry forward as of September 30, 2023, is approximately $1,138,000 and as of September 30, 2022, is $1,116,000 approximately. The total deferred tax assets are approximately $239,000 and $234,000 for the years ended September 30, 2023, and September 30, 2022, respectively. No tax benefit has been reported in the financial statements because after evaluating our own potential tax uncertainties, the Company has determined that there are no material uncertain tax positions that have a greater than 50% likelihood of reversal if the Company were to be audited. The provision for income taxes differs from the amounts which would be provided by applying the statutory federal income tax rate of 21% to the net loss before provision for income taxes for the following reasons: The Company is not obligated to pay State Income Taxes because it is a Nevada corporation. The Company does not currently have any tax returns open for examination. |
MATERIAL EVENTSSUBSEQUENT EVENT
MATERIAL EVENTSSUBSEQUENT EVENTS | 6 Months Ended |
Sep. 30, 2023 | |
MATERIAL EVENTSSUBSEQUENT EVENTS | |
MATERIAL EVENTS SUBSEQUENT EVENTS | NOTE H—MATERIAL EVENTS/SUBSEQUENT EVENTS Since the close of the period covered by the financial statements of which these notes form a part, the following material transactions have occurred: No material or subsequent transactions have occurred from the quarter end September 30, 2023 through November 22, 2023. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 6 Months Ended |
Sep. 30, 2023 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Basis of Presentation | Basis of Presentation- The financial statements included herein were prepared under Generally Accepted Accounting Principles (GAAP). All adjustments have been made which in the opinion of management are necessary, normal, and recurring in nature for presentation. Interim filings should be read in conjunction with the Company’s annual report as of March 31, 2023. |
Cash and Cash Equivalents | Cash and Cash Equivalents- For purposes of the Statement of Cash Flows, the Company considers liquid investments with an original maturity of three months or less to be cash equivalents. |
Management's Use of Estimates | Management’s Use of Estimates- The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The financial statements above reflect all of the costs of doing business. |
Revenue Recognition | Revenue Recognition- On May 28, 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers, Topic 606 (“ASC 606”), requiring an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The new revenue standard replaces most existing revenue recognition guidance in GAAP and permits the use of either the full retrospective or modified retrospective transition method. The Company adopted this standard using the modified basis effective January 1, 2019 and given the Company's limited revenue, the modified retrospective basis has no material impact on prior years given the limited revenue. |
Comprehensive Income (Loss) | Comprehensive Income (Loss) - The Company reports Comprehensive income and its components following guidance set forth by section 220-10 of the FASB Accounting Standards Codification which establishes standards for the reporting and display of comprehensive income and its components in the financial statements. There were no items of comprehensive income (loss) applicable to the Company during the period covered in the financial statements. |
Net Income per Common Share | Net Income per Common Share- Net loss per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted average number of shares of common stock and potentially outstanding shares of common stock during each period. |
Deferred Taxes | Deferred Taxes-The Company accounts for income taxes under Section 740-10-30 of the FASB Accounting Standards Codification. Deferred income tax assets and liabilities are determined based upon differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statements of operations in the period that includes the enactment date. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments-The carrying amounts reported in the balance sheet for cash, accounts receivable and accounts payable approximate fair value based on the short-term maturity of these instruments. |
Accounts Receivable | Accounts Receivable-Accounts deemed uncollectible are written off in the year they become uncollectible. As of September 30, 2023, and September 30, 2022, the balance in Accounts Receivable was $0 and $0. |
Impairment of Long-Lived Assets | Impairment of Long-Lived Assets- The Company evaluates the recoverability of its fixed assets and other assets in accordance with section 360-10-15 of the FASB Accounting Standards Codification for disclosures about Impairment or Disposal of Long-Lived Assets. Disclosure requires recognition of impairment of long-lived assets in the event the net book value of such assets exceeds its expected cash flows. If so, it is impaired and is written down to fair value, which is determined based on either discounted future cash flows or appraised values. The Company adopted the statement on inception. No impairments of these types of assets were recognized during the periods ended September 30, 2023, and September 30, 2022. |
Stock-Based Compensation | Stock-Based Compensation-The Company accounts for stock-based compensation using the fair value method following the guidance set forth in section 718-10 of the FASB Accounting Standards Codification for disclosure about Stock-Based Compensation. This section requires a public entity to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award (with limited exceptions). That cost will be recognized over the period during which an employee is required to provide service in exchange for the award- the requisite service period (usually the vesting period). No compensation cost is recognized for equity instruments for which employees do not render the requisite service. |
Fair Value for Financial Assets and Financial Liabilities | Fair Value for Financial Assets and Financial Liabilities- The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value in accounting principles generally accepted in the United States of America (U.S. GAAP) and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below: Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3 Pricing inputs that are generally unobservable inputs and not corroborated by market data. The carrying amounts of the Company’s financial assets and liabilities, such as cash and accrued expenses, approximate their fair values because of the short maturity of these instruments. The Company’s note payable would approximate the fair value of such instrument based upon management’s best estimate of interest rates that would be available to the Company for similar financial arrangement at the periods ended September 30, 2023 and September 30, 2022. The Company does not have any assets or liabilities measured at fair value on a recurring or a non-recurring basis, consequently, the Company did not have any fair value adjustments for assets and liabilities measured at fair value at September 30, 2023, nor gains or losses are reported in the statement of operations that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date for the periods ended September 30, 2023 and September 30, 2022. |
Recently Issued Accounting Pronouncements | The FASB recently issued Accounting Standard Update (ASU) 2021-012 to clarify that all derivative instruments affected by changes to the interest rates used for discounting, margining, or contract price alignment (commonly referred to as the discounting transition) are in the scope of ASC 848. The amendments also clarify other aspects of the guidance in ASC 848 and addresses the effects of the cash compensation adjustment provided in the discounting transition on certain aspects of hedge accounting. The guidance in ASC 848 also allows entities to make a one-time election to sell and/or transfer to available for sale or trading any held-to-maturity (HTM) debt securities that refer to an interest rate affected by reference rate reform and were classified as held to maturity before 1 January 2020. The adoption of this standard did not have a material impact on the Company’s financial position and results of operations. Other pronouncements issued by the FASB or other authoritative accounting standards groups with future effective dates are either not applicable or are not expected to be significant to the Company’s financial position, results of operations or cash flows. |
CORRECTION OF AN ERRORPRIOR P_2
CORRECTION OF AN ERRORPRIOR PERIOD RESTATEMENT (Tables) | 6 Months Ended |
Sep. 30, 2023 | |
CORRECTION OF AN ERRORPRIOR PERIOD RESTATEMENT | |
Schedule of accounts impacted by the correction of an error | September 30, 2022 Originally Reported 2022 Restated Amount of Change Expenses: Filing Fees 627 748 (121 ) Professional Fees 7,995 11,785 (3,790 ) Total Expenses 8,622 12,533 (3,911 ) NET LOSS (8,622 ) (12,533 ) 3,911 September 30, 2022 Originally Reported 2022 Restated Amount of Change Accounts Payable - 2,159 (2,159 ) TOTAL LIABILITIES - 2,159 (2,159 ) Common Stock 24,802 24,802 - Additional Paid in Capital 1,068,920 1,089,197 (20,277 ) Accumulated Deficit (1,093,722 ) (1,116,158 ) 22,436 TOTAL STOCKHOLDER'S EQUITY (DEFICIT) - (2,159 ) 2,159 TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY/(DEFICIT) - - - |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | 6 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Mar. 31, 2023 | |
GOING CONCERN | |||
Accumulated Deficit | $ (1,137,729) | $ (1,125,129) | |
Cash used in operations | $ (13,600) | $ (10,374) |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||
Accounts Receivable | $ 0 | $ 0 |
CAPITAL STOCK (Details Narrativ
CAPITAL STOCK (Details Narrative) - USD ($) | 6 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Mar. 31, 2023 | |
CAPITAL STOCK | |||
Common stock authorized | 500,000,000 | 500,000,000 | |
Preferred stock authorized | 5,000,000 | 5,000,000 | |
Common stock par value | $ 0.0001 | $ 0.0001 | |
Preferred stock par value | $ 0.0001 | $ 0.0001 | |
Common stock outstanding | 248,020,000 | 248,020,000 | |
Common stock issued | 248,020,000 | 248,020,000 | 248,020,000 |
Capital contributions | $ 13,600 | $ 10,374 |
CORRECTION OF AN ERROR PRIOR PE
CORRECTION OF AN ERROR PRIOR PERIOD RESTATEMENT (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Sep. 30, 2023 | Jun. 30, 2023 | Sep. 30, 2022 | Jun. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Filing Fees | $ 0 | $ 259 | $ 0 | $ 748 | ||
Filing Fees | 0 | (259) | 0 | (748) | ||
Professional Fees | 5,950 | 3,300 | 12,600 | 11,785 | ||
Professional Fees | (5,950) | (3,300) | (12,600) | (11,785) | ||
NET LOSS | $ (5,950) | $ (6,650) | $ (3,559) | $ (8,974) | $ (12,600) | (12,533) |
Amounts Restated Member | ||||||
Filing Fees | 748 | |||||
Filing Fees | (748) | |||||
Professional Fees | 11,785 | |||||
Professional Fees | (11,785) | |||||
Total Expense | 12,533 | |||||
Total Expense | (12,533) | |||||
NET LOSS | (12,533) | |||||
Amounts Originally Reported Member | ||||||
Filing Fees | 627 | |||||
Filing Fees | (627) | |||||
Professional Fees | 7,995 | |||||
Professional Fees | (7,995) | |||||
Total Expense | 8,622 | |||||
Total Expense | (8,622) | |||||
NET LOSS | (8,622) | |||||
Amounts of change Member | ||||||
Filing Fees | 121 | |||||
Filing Fees | (121) | |||||
Professional Fees | 3,790 | |||||
Professional Fees | (3,790) | |||||
Total Expense | 3,911 | |||||
Total Expense | (3,911) | |||||
NET LOSS | $ 3,911 |
CORRECTION OF AN ERROR PRIOR _2
CORRECTION OF AN ERROR PRIOR PERIOD RESTATEMENT (Details 1) - USD ($) | Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 |
Accounts Payable | $ (2,243) | $ (3,243) | ||||
Accounts Payable | 2,243 | 3,243 | ||||
TOTAL LIABILITIES | (2,243) | (3,243) | ||||
TOTAL LIABILITIES | 2,243 | 3,243 | ||||
Common stock | 24,802 | 24,802 | ||||
Additional Paid in Capital | 1,110,684 | 1,097,084 | ||||
Accumulated Deficit | (1,137,729) | (1,125,129) | ||||
TOTAL STOCKHOLDER'S EQUITY (DEFICIT) | (2,243) | $ (2,243) | (3,243) | $ (2,159) | $ (4,100) | $ 0 |
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY/(DEFICIT) | $ 0 | $ 0 | ||||
Amounts Restated Member | ||||||
Accounts Payable | (2,159) | |||||
Accounts Payable | 2,159 | |||||
TOTAL LIABILITIES | (2,159) | |||||
TOTAL LIABILITIES | 2,159 | |||||
Common stock | 24,802 | |||||
Additional Paid in Capital | 1,089,197 | |||||
Accumulated Deficit | (1,116,158) | |||||
TOTAL STOCKHOLDER'S EQUITY (DEFICIT) | (2,159) | |||||
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY/(DEFICIT) | 0 | |||||
Amounts Originally Reported Member | ||||||
Accounts Payable | 0 | |||||
Accounts Payable | 0 | |||||
TOTAL LIABILITIES | 0 | |||||
TOTAL LIABILITIES | 0 | |||||
Common stock | 24,802 | |||||
Additional Paid in Capital | 1,068,920 | |||||
Accumulated Deficit | (1,093,722) | |||||
TOTAL STOCKHOLDER'S EQUITY (DEFICIT) | 0 | |||||
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY/(DEFICIT) | 0 | |||||
Amounts of change Member | ||||||
Accounts Payable | (2,159) | |||||
Accounts Payable | 2,159 | |||||
TOTAL LIABILITIES | (2,159) | |||||
TOTAL LIABILITIES | 2,159 | |||||
Common stock | 0 | |||||
Additional Paid in Capital | (20,277) | |||||
Accumulated Deficit | 22,436 | |||||
TOTAL STOCKHOLDER'S EQUITY (DEFICIT) | 2,159 | |||||
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY/(DEFICIT) | $ 0 |
INCOME TAX (Details Narrative)
INCOME TAX (Details Narrative) - USD ($) | 6 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
INCOME TAX | ||
Net operating loss carry forward | $ 1,138,000 | $ 1,116,000 |
Total deferred tax assets | $ 239,000 | $ 234,000 |
Statutory federal income tax rate | 21% |