Dolat Ventures (DOLV) 10-Q 9 Aug 17 2014 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	May 31, 2013shares
Document And Entity Information
Entity Registrant Name	Dolat Ventures, Inc.
Entity Central Index Key	1,436,568
Document Type	10-Q
Document Period End Date	May 31, 2013
Amendment Flag	false
Current Fiscal Year End Date	--02-28
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	No
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding	119,966,362
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,014

BALANCE SHEETS

BALANCE SHEETS - USD ($)	May 31, 2013	Feb. 28, 2013
Current assets
Cash	$ 31	$ 2
Total current assets	31	2
Total assets	31	2
Current liabilities
Accounts Payable and Accrued Expenses	3,521	30,212
Accounts Payable- Related Party	14,960	14,935
Shareholder Loan	37,982	33,467
Convertible Notes Payable	131,526	6,526
Convertible Note Payable- Related Party	5,000	5,000
Derivative Liability	1,853,659	101,140
Total Current Liabilities	2,046,648	191,280
Total liabilities	2,046,648	191,280
Stockholders' Equity/(Deficit):
Common Stock, Par value $0.001, Authorized 250,000,000 shares Issued 119,966,362 and 119,966,362, respectively	119,966	119,966
Additional paid-in capital	14,122,633	14,122,633
Accumulated Deficit	(16,294,197)	(14,438,858)
Total stockholders' deficit	(2,046,617)	(191,278)
Total liabilities and stockholders' deficit	31	2
Series A Preferred Stock [Member]
Stockholders' Equity/(Deficit):
Preferred stock value
Series B Preferred Stock [Member]
Stockholders' Equity/(Deficit):
Preferred stock value	$ 4,981	$ 4,981

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - USD ($)	May 31, 2013	Feb. 28, 2013
Stockholders' deficit
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	25,000,000	25,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	119,966,362	119,966,362
Common stock, shares outstanding	119,966,362	119,966,362
Series A Preferred Stock [Member]
Stockholders' deficit
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Preferred Stock Series Shares Designated	$ 1,000,000	$ 1,000,000
Series B Preferred Stock [Member]
Stockholders' deficit
Preferred stock, shares issued	4,981,350	4,981,350
Preferred stock, shares outstanding	4,981,350	4,981,350
Preferred Stock Series Shares Designated	$ 24,000,000	$ 24,000,000

STATEMENTS OF OPERATIONS (UNAUD

STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)	3 Months Ended
	May 31, 2013	May 31, 2012
Income Statement [Abstract]
Revenues
Costs of revenues
Gross Margin
Operating expenses:
Professional fees	101,416	6,744
General and administrative	486	3,141
Total operating expenses	101,902	9,885
Operating Income (Loss)	(101,902)	(9,885)
Other income (expense):
Interest expense	(918)
Derivative Income (Expense)	(1,752,519)	2,317
Total other income (expense)	(1,753,437)	2,317
Net (Loss) Before Taxes	(1,855,339)	(7,568)
Income Tax Provision
Net (Loss)	$ (1,855,339)	$ (7,568)
Loss per Share, Basic & Diluted	$ 0	$ 0
Weighted average number of shares outstanding	119,966,362	98,966,362

STATEMENTS OF CASH FLOWS (UNAUD

STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	3 Months Ended
	May 31, 2013	May 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Loss for the Period	$ (1,855,339)	$ (7,568)
Adjustments to reconcile net loss to net cash used by operating activities:
Derivative (Income) Expense	1,752,519	(2,317)
Changes in operating assets and liabilities:
Decrease in Note Receivable		400
Increase (Decrease) in Accounts Payable and Accrued Expenses	(26,666)	20
Net cash used in operating activities	(129,486)	(9,465)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from Shareholder Loans	4,515
Proceeds from Convertible Notes Payable	125,000
Net Cash Provided by Financing Activities	129,515
Net increase (decrease) in cash	29	(9,465)
Cash at beginning of period	2	10,216
Cash at end of period	$ 31	$ 751

NATURE OF BUSINESS, PRESENTATIO

NATURE OF BUSINESS, PRESENTATION, AND GOING CONCERN	3 Months Ended
	May 31, 2013
Notes to Financial Statements
NOTE 1. NATURE OF BUSINESS, PRESENTATION, AND GOING CONCERN	Organization Dolat Ventures, Inc., the “Company” was incorporated in Nevada on April 13, 2006 with the intent to engage in the business of mineral property exploration. On March 20, 2013, the Company changed its domicile from Nevada to Wyoming. On February 9, 2009, the Company entered into an Agreement and Plan of Acquisition (the “Acquisition Agreement”) with Dove Diamond and Mining, Inc. (“Dove”), a Nevada corporation, and the shareholders of Dove (“Dove Shareholders”) whereby the Company acquired 100% of the issued and outstanding common stock of Dove in exchange (the “Stock Exchange”) for 20,622,000 newly issued shares of its restricted common stock. The final closing was concluded and is effective February 15, 2009. For accounting purposes, as a result of the Stock Exchange, Dove became a wholly owned subsidiary of the Company. Dove ceased being a subsidiary of the Company effective March 1, 2011 when Dove’s corporate charter was permanently revoked by Nevada. In conjunction with the acquisition of Dove, the Company experienced a change in control. On February 28, 2009 Shmuel Dovid Hauck was nominated and elected by the Board of Directors as President of Dolat Ventures, Inc. upon the resignation of Gary Tice, who previously served as President, Chief Financial Officer, Secretary, and a Director. Mr. Hauck was also appointed to the Board of Directors on February 28, 2009. On April 13, 2010, the Company entered into a commercial based agreement with Millennium Mining LLC (“Millennium”). The Company issued thirty million (30,000,000) shares of common stock to Millennium as consideration for the formation of a commercial association between the two entities. The Company ceased its commercial association with Millennium effective March 1, 2011. Segment Information In accordance with the provisions of ASC 280-10, “Disclosures about Segments of an Enterprise and Related Information”, the Company is required to report financial and descriptive information about its reportable operating segments. This provision is not applicable as the Company’s planned principal operations have not fully commenced. Basis of Presentation The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in The United States of America and the rules and regulations of the Securities and Exchange Commission (“SEC”). Going Concern The ability of the Company’s to continue as a going concern is dependent upon the Company’s ability to further implement its business plan, generate revenues, and continue to raise additional investment capital. No assurance can be given that the Company will be successful in these efforts. The unaudited financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Management believes that actions presently being taken to obtain additional funding and implement its strategic plans provide the opportunity for the Company to continue as a going concern.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	May 31, 2013
Notes to Financial Statements
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates in the accompanying consolidated financial statements include the depreciable lives of property and equipment, valuation of share-based payments and the valuation allowance on deferred tax assets. Actual results could differ from those estimates and would impact future results of operations and cash flows. Reclassification of Prior Year Financial Statements The Company has reclassified, where appropriate, the prior year financial statements to conform to the current year presentation. Cash and Cash Equivalents The Company considers all highly liquid temporary cash investments with an original maturity of twelve months or less to be cash equivalents. At May 31, 2013 and February 28, 2013, respectively, the Company had $31 and $2 in cash equivalents. Property and Equipment Property and equipment are recorded at cost. Expenditures for major additions and betterments are capitalized. Maintenance and repairs are charged to operations as incurred. Depreciation of property and equipment is computed by the straight-line method (after taking into account their respective estimated residual values) over the assets estimated useful lives of 10 years. Upon sale or retirement of property and equipment, the related cost and accumulated depreciation are removed from the accounts and any gain or loss is reflected in the consolidated statements of operations. Leasehold improvements are amortized on a straight-line basis over the term of the lease or the estimated useful lives, whichever is shorter. Mineral Property and Exploration Costs The Company has been in the exploration stage since April 13, 2006 and has not yet realized sustainable revenues from its planned operations. It is primarily engaged in attempting to acquire, explore, and develop mining properties and attempting the wholesale distribution and sale of diamonds and precious gemstones. In accordance with Securities and Exchange Commission Industry Guide 7, mineral property acquisition costs and exploration costs are expensed to operations as incurred. When it has been determined that a mineral property can be economically developed as a result of establishing probable and then proven reserves, the costs then incurred to develop such property are capitalized. Such costs will be amortized using the units-of-production method over the estimated life of the probable-proven reserves. If mineral properties are subsequently abandoned or impaired, any capitalized costs will be charged to operations. Impairment or Disposal of Long-Lived Assets The Company accounts for the impairment or disposal of long-lived assets according to the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 360 “Property, Plant and Equipment”. ASC 360 clarifies the accounting for the impairment of long-lived assets and for long-lived assets to be disposed of, including the disposal of business segments and major lines of business. Long-lived assets are reviewed when facts and circumstances indicate that the carrying value of the asset might not be recoverable. When necessary, impaired assets are written down to estimate fair value based on the best information available. Estimated fair value is generally based on either appraised value or measured by discounting estimated future cash flows. Considerable management judgment is necessary to estimate discounted future cash flows. Accordingly, actual results could vary significantly from such estimates. Fair Value of Financial Instruments FASB ASC 820, Fair Value Measurements and Disclosures, establishes a framework for measuring fair value and expands disclosures about fair value measurements. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820 states that a fair value measurement should be determined based on the assumptions the market participants would use in pricing the asset or liability. In addition, ASC 820 specifies a hierarchy of valuation techniques based on whether the types of valuation information (“inputs”) are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The twelve broad levels defined by ASC 820 hierarchy are as follows: Level 1 – quoted prices for identical assets or liabilities in active markets. Level 2 – pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reported date. Level 3 – valuations derived from methods in which one or more significant inputs or significant value drivers are unobservable in the markets. These financial instruments are measured using management’s best estimate of fair value, where the inputs into the determination of fair value require significant management judgment to estimation. Valuations based on unobservable inputs are highly subjective and require significant judgments. Changes in such judgments could have a material impact on fair value estimates. In addition, since estimates are as of a specific point in time, they are susceptible to material near-term changes. Changes in economic conditions August also dramatically affect the estimated fair values. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of May 31, 2013. The respective carrying value of certain financial instruments approximated their fair values due to the short-term nature of these instruments. These financial instruments include accounts payable and accrued expenses, and related party payables. The fair value of the Company’s notes payable is estimated based on current rates that would be available for debt of similar terms which is not significantly different from its stated value. Revenue Recognition The Company recognized revenue on arrangements in accordance with ASC Topic 605, “Revenue Recognition” Environmental Costs Environmental expenditures that relate to current operations are expensed or capitalized as appropriate. Expenditures that relate to an existing condition caused by past operations, and which do not contribute to current or future revenue generation, are expensed. Liabilities are recorded when environmental assessments and/or remedial efforts are probable, and the cost can be reasonably estimated. Generally, the timing of these accruals coincides with the earlier of completion of a feasibility study or the Company’s commitments to plan of action based on the then known facts. Stock Based Compensation The Company accounts for Stock-Based Compensation under ASC 718 “Compensation – Stock Compensation”, which addresses the accounting for transactions in which an entity exchanges its equity instruments for goods or services, with a primary focus on transactions in which an entity obtains employee services in share-based payment transactions. ASC 718-10 is a revision to SFAS No. 123, “Accounting for Stock-Based Compensation,” and supersedes Accounting Principles Board (“APB”) Opinion No. 25, “Accounting for Stock Issued to Employees,” and its related implementation guidance. ASC 718-10 requires measurement of 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). Incremental compensation costs arising from subsequent modifications of awards after the grant date must be recognized. The Company accounts for stock-based compensation awards to non-employees in accordance with ASC 505-50 “Equity-Based Payments to Non-Employees” (“ASC 505-50”). Under ASC 505-50, the Company determines the fair value of the warrants or stock-based compensation awards granted as either the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. Any stock options issued to non-employees are recorded in expense and additional paid-in capital in shareholders’ equity/(deficit) over the applicable service periods using variable accounting through the vesting dates based on the fair value of the options at the end of each period. The Company has not adopted a stock option plan and has not granted any stock options as of May 31, 2013. Income Taxes Income taxes are accounted for under the liability method of accounting for income taxes. Under the liability method, future tax liabilities and assets are recognized for the estimated future tax consequences attributable to differences between the amounts reported in the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Future tax assets and liabilities are measured using enacted or substantially enacted income tax rates expected to apply when the asset is realized or the liability settled. The effect of a change in income tax rates on future income tax liabilities and assets is recognized in income in the period that the change occurs. Future income tax assets are recognized to the extent that they are considered more likely than not to be realized. The FASB has issued ASC 740 “Income Taxes” (formerly, Financial Interpretation No. 48, “Accounting for Uncertainty in Income Taxes” – An Interpretation of FASB Statement No. 109 (FIN 48)). ASC 740 clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements in accordance with prior literature FASB Statement No. 109, Accounting for Income Taxes. This standard requires a company to determine whether it is more likely than not that a tax position will be sustained upon examination based upon the technical merits of the position. If the more-likely-than-not threshold is met, a company must measure the tax position to determine the amount to recognize in the financial statements. As a result of the implementation of this standard, the Company performed a review of its material tax positions in accordance with recognition and measurement standards established by FASB ASC 740 and concluded that the tax position of the Company has not met the more-likely-than-not threshold as of May 31, 2013. Basic and Diluted Loss Per Share The Company computes income (loss) per share in accordance with ASC 260, “Earnings per Share”, which requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the statement of operations. Basic EPS is computed by dividing income (loss) available to common shareholders by the weighted average number of shares outstanding during the period. Diluted EPS gives effect to all dilutive potential shares of common stock outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. As of May 31, 2013 there were 131,785,714 potentially dilutive shares that could be issued if the common stock conversion feature contained in the convertible notes payable were exercised. Emerging Growth Company We qualify as an “emerging growth company” under the 2012 JOBS Act. Section 107 of the JOBS Act provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. As an emerging growth company, we can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected to take advantage of the benefits of this extended transition period. Effect of Recent Accounting Pronouncements In October 2012, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2012-04, ‘‘Technical Corrections and Improvements” in Accounting Standards Update No. 2012-04. The amendments in this update cover a wide range of Topics in the Accounting Standards Codification. These amendments include technical corrections and improvements to the Accounting Standards Codification and conforming amendments related to fair value measurements. The amendments in this update will be effective for fiscal periods beginning after December 15, 2012. The adoption of ASU 2012-04 is not expected to have a material impact on our financial position or results of operations. In August 2012, the FASB issued ASU 2012-03, “Technical Amendments and Corrections to SEC Sections: Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin (SAB) No. 114, Technical Amendments Pursuant to SEC Release No. 33-9250, and Corrections Related to FASB Accounting Standards Update 2010-22 (SEC Update)” in Accounting Standards Update No. 2012-03. This update amends various SEC paragraphs pursuant to the issuance of SAB No. 114. The adoption of ASU 2012-03 is not expected to have a material impact on our financial position or results of operations. In June 2014, the FASB issued ASU 2014-10, “Development Stage Entities” which eliminated the definition of a development stage entity from U.S. generally accepted accounting principles and removed the additional disclosure requirements for such entities. The Company did not issue any financial statements subsequent to the implementation of ASU 2014-10. The Company adopted the early application of the provisions of ASU 2014-10. The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

GOING CONCERN

GOING CONCERN	3 Months Ended
	May 31, 2013
Notes to Financial Statements
Note 3. GOING CONCERN	The accompanying unaudited financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As reflected in the accompanying financial statements, the Company had an accumulated deficit of $16,294,197 at May 31, 2013. The Company had net cash used in operations of $129,486 and $9,465 for the three months ended May 31, 2013 and 2012 respectively. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The ability of the Company’s to continue as a going concern is dependent upon the Company’s ability to further implement its business plan, generate revenues, and continue to raise additional investment capital. No assurance can be given that the Company will be successful in these efforts. These unaudited financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Management believes that actions presently being taken to obtain additional funding and implement its strategic plans provide the opportunity for the Company to continue as a going concern.

CONVERTIBLE NOTES PAYABLE

CONVERTIBLE NOTES PAYABLE	3 Months Ended
	May 31, 2013
Notes to Financial Statements
Note 4. CONVERTIBLE NOTES PAYABLE	On May 30, 2008, the Company entered into an unsecured promissory note with Paul M’Bayo for 80,000,000 Sierra Leones (approx. $18,500) with interest due oft 6% per annum and due May 30, 2009. The note can be converted at any time by the holder into common shares of the Company at a conversion rate of $.00/shares. Currently the Company is in default of this note. In the year ended February 28, 2013, Mr. M’Bayo assigned $18,500 of convertible debt to an unrelated third party who in turn converted the debt into 18,500,000 common shares of the Company. On May 20, 2009, the Company entered into an unsecured promissory note with Kevin Cheung for 28,030,000 Sierra Leones (approx. $6,500) with interest due of 6% per annum and due May 20, 2010. The note can be converted at any time by the holder into common shares of the Company at a conversion rate of $.001/share. Currently the Company is in default of this note. On November 5, 2012, the Company entered into an unsecured promissory note with its President Mr. Dovid Hauck for $5,000 with prepaid interest of $1,000 and due on demand. The note can be converted at any time by the holder into common shares of the Company at a conversion rate equal to 50% of the closing market price on the date of conversion. Currently the Company is in default of this note. On May 1, 2013, the Company entered into an unsecured $125,000 promissory note with Mayfair Sterling, Inc. with interest due of 6% per annum and maturing on May 1, 2014. The note may be converted at any time by the holder into common shares of the Company at a conversion rate of $0.001/share. Derivative Liability At May 31, 2013 and February 28, 2013, the Company’s derivative liability balances were $1,853,659 and $101,140, respectively. The derivative liability was calculated using the Black Scholes Model on each of the outstanding convertible notes payable.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	May 31, 2013
Notes to Financial Statements
Note 5. RELATED PARTY TRANSACTIONS	As of February 28, 2013 and May 31, 2013 the Company had an accounts payable to related parties balance of $14,935 and $19,960. From time to time, associates of the Company’s management will provide services to the Company as well as provide the Company funds to cover shortfalls in capital. These advances are unsecured and non-interest bearing. On February 9, 2009, the Company entered into an Agreement and Plan of Acquisition (the “Acquisition Agreement”) with Dove Diamond and Mining, Inc. (“Dove”), a Nevada corporation, and the shareholders of Dove (“Dove Shareholders”) whereby the Company acquired 100% of the issued and outstanding common stock of Dove in exchange (the “Stock Exchange”) for 20,622,000 newly issued shares of its restricted common stock. The final closing was concluded and is effective February 15, 2009. Dove is majority owned by the Company’s President and majority shareholder . On April 13, 2010, the Company entered into an agreement with Millennium whereby the company issued thirty million (30,000,000) shares of the Company’s common stock in consideration for the formation of a commercial association among the two entities. The shares of stock acquired were owned by Mr. Shmuel Dovid Hauck, the Company’s former President and majority shareholder. Effective March 1, 2011, the Company ceased its commercial association with Millennium.

STOCKHOLDERS EQUITY

STOCKHOLDERS EQUITY	3 Months Ended
	May 31, 2013
Notes to Financial Statements
Note 6. STOCKHOLDERS EQUITY	On July 29, 2010, the Company filed an amendment to its articles of incorporation with the Nevada Secretary of State to increase its authorized number of common shares to 250,000,000 at $0.001 par value and authorized 25,000,000 shares of preferred stock with a par value of $0.001. On July 29, 2010, the Board of Directors of the Company filed a Designation of Series A Preferred Stock creating 1,000,000 shares of Series A Preferred Stock and a Designation of Series B Preferred Stock creating 24,000,000 shares of Series B Preferred Stock. The Series A Preferred Stock may be converted at any time by the holder into common shares at a rate of 1:1. Each share of Series A Preferred Stock will vote equivalent to one share of common stock. The Series B Preferred Stock may be converted at any time by the holder into common shares at a rate of 1:1. Each share of Series B Preferred Stock will vote equivalent to one share of common stock. As of February 28, 2013 and May 31, 2013, the Company has 4,981,350 shares of Series B Preferred Stock outstanding, respectively. During the twelve months ended February 29, 2012 the Company issued 3,817,460 shares of its common stock for $350,000, 9,865,740 shares of common stock for consulting services and 1,150,000 shares of common stock for other services. The shares for consulting services were valued at the closing share price on the date of issuance which resulted in the Company recording a non cash expense of $1,449,861. The consulting services were provided by unrelated third party consultants and were completed in the year ended February 29, 2012. The shares issued for other services were valued at the closing share price on the date of issuance which resulted in the Company recording an expense of $159,500. In the year ended February 28, 2013, the Company issued 18,500,000 common shares pursuant to the assignment and conversion of convertible notes payable and 2,500,000 shares to consultants for services completed by February 28, 2013. The shares issued to consultants were valued at the closing share price on the date of issuance which resulted in the Company recording an expense of $75,000. No shares of common stock were issued during the three months ended May 31, 2013 and 2012, respectively.

INCOME TAX

INCOME TAX	3 Months Ended
	May 31, 2013
Notes to Financial Statements
Note 7. INCOME TAX	Deferred income taxes have been provided to show the effect of temporary differences between the recognition of expenses for financial and income tax reporting purposes and between the tax basis of assets and liabilities, and their reported amounts in the consolidated financial statements. In assessing the realizability of deferred tax assets, the Company assesses the likelihood that deferred tax assets will be recovered through tax planning strategies or from future taxable income, and to the extent that recovery is not likely or there is insufficient operating history, a valuation allowance is established. The Company adjusts the valuation allowance in the period management determines it is more likely than not that net deferred tax assets will or will not be realized. As of February 28, 2013 and May 31, 2013, the Company has provided a valuation allowance for all net deferred tax assets due to their current realization not being more likely than not. The provisions for income taxes differ from the amount computed by applying the statutory federal income tax rate to Income before provision for income taxes. The source and tax effects of the differences are as follows for the periods ended February 28, 2013 and May 31, 2013: 2/28/13 5/31/13 U.S. federal statutory rate 35 % 35 % Valuation reserve -35 % -35 % Total 0 % 0 % As of May 31, 2013, the Company did not recognize any assets or liabilities relative to uncertain tax positions, nor do we anticipate any significant unrecognized tax benefits will be recorded during the next 12 months. Any interest or penalties related to unrecognized tax benefits is recognized in income tax expense. Since there are no unrecognized tax benefits as a result of tax positions taken, there are no accrued penalties or interest. Tax positions are positions taken in a previously filed tax return or positions expected to be taken in a future tax return that are reflected in measuring current or deferred income tax assets and liabilities reported in the consolidated financial statements. Tax positions include, but are not limited to, the following: - An allocation or shift of income between taxing jurisdictions; - The characterization of income or a decision to exclude reportable taxable income in a tax return; or - A decision to classify a transaction, entity or other position in a tax return as tax exempt. The Company reflects tax benefits only if it is more likely than not that we will be able to sustain the tax position, based on its technical merits. If a tax benefit meets this criterion, it is measured and recognized based on the largest amount of benefit that is cumulatively greater than 50% likely to be realized. The Company has no unrecognized tax benefits as of May 31, 2013. The Company’s practice is to recognize interest and/or penalties related to income tax matters in income tax expense. The Company had no accrual for interest or penalties on the Company’s balance sheet at May 31, 2013, and has not recognized interest and/or penalties in the statement of operations for either period.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	May 31, 2013
Notes to Financial Statements
NOTE 8. SUBSEQUENT EVENTS	On December 2, 2016, Wang DeQun, the Company’s President and director, acquired control of the Company from its prior sole officer and President through the purchase of 300,000 shares of the Company’s Class A Convertible Preferred Stock convertible into 750,000,000 shares of the Company’s common stock and having voting rights equivalent to 750,000,000 common shares. On January 11, 2017, the Company acquired Ji Ming Yang Amperex Technology Limited, a related party Chinese corporation. The purchase price was 100,000 shares of Class D Preferred Stock convertible into 250,000,000 shares of the Company’s common stock and having voting rights equal to 250,000,000 shares of common stock. On April 4, 2017, the Company acquired a patent from Wang DeQun in exchange for 100,000 shares of Class E Preferred Stock also convertible into 250,000,000 shares of the Company’s common stock and having voting rights equal to 250,000,000 shares of the Company’s common stock.

SUMMARY OF SIGNIFICANT ACCOUN14

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	May 31, 2013
Summary Of Significant Accounting Policies Policies
Use of Estimates	The preparation of consolidated financial statements in conformity with accounting principles (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates in the accompanying consolidated financial statements include the depreciable lives of property and equipment, valuation of share-based payments and the valuation allowance on deferred tax assets. Actual results could differ from those estimates and would impact future results of operations and cash flows.
Reclassification of Prior Year Financial Statements	The Company has reclassified, where appropriate, the prior year financial statements to conform to the current year presentation.
Cash and Cash Equivalents	The Company considers all highly liquid temporary cash investments with an original maturity of twelve months or less to be cash equivalents. At May 31, 2013 and February 28, 2013, respectively, the Company had $31 and $2 in cash equivalents.
Property and Equipment	Property and equipment are recorded at cost. Expenditures for major additions and betterments are capitalized. Maintenance and repairs are charged to operations as incurred. Depreciation of property and equipment is computed by the straight-line method (after taking into account their respective estimated residual values) over the assets estimated useful lives of 10 years. Upon sale or retirement of property and equipment, the related cost and accumulated depreciation are removed from the accounts and any gain or loss is reflected in the consolidated statements of operations. Leasehold improvements are amortized on a straight-line basis over the term of the lease or the estimated useful lives, whichever is shorter.
Mineral Property and Exploration Costs	The Company has been in the exploration stage since April 13, 2006 and has not yet realized sustainable revenues from its planned operations. It is primarily engaged in attempting to acquire, explore, and develop mining properties and attempting the wholesale distribution and sale of diamonds and precious gemstones. In accordance with Securities and Exchange Commission Industry Guide 7, mineral property acquisition costs and exploration costs are expensed to operations as incurred. When it has been determined that a mineral property can be economically developed as a result of establishing probable and then proven reserves, the costs then incurred to develop such property are capitalized. Such costs will be amortized using the units-of-production method over the estimated life of the probable-proven reserves. If mineral properties are subsequently abandoned or impaired, any capitalized costs will be charged to operations.
Impairment or Disposal of Long-Lived Assets	The Company accounts for the impairment or disposal of long-lived assets according to the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 360 “Property, Plant and Equipment”. ASC 360 clarifies the accounting for the impairment of long-lived assets and for long-lived assets to be disposed of, including the disposal of business segments and major lines of business. Long-lived assets are reviewed when facts and circumstances indicate that the carrying value of the asset might not be recoverable. When necessary, impaired assets are written down to estimate fair value based on the best information available. Estimated fair value is generally based on either appraised value or measured by discounting estimated future cash flows. Considerable management judgment is necessary to estimate discounted future cash flows. Accordingly, actual results could vary significantly from such estimates.
Fair Value of Financial Instruments	FASB ASC 820, Fair Value Measurements and Disclosures, establishes a framework for measuring fair value and expands disclosures about fair value measurements. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820 states that a fair value measurement should be determined based on the assumptions the market participants would use in pricing the asset or liability. In addition, ASC 820 specifies a hierarchy of valuation techniques based on whether the types of valuation information (“inputs”) are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The twelve broad levels defined by ASC 820 hierarchy are as follows: Level 1 – quoted prices for identical assets or liabilities in active markets. Level 2 – pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reported date. Level 3 – valuations derived from methods in which one or more significant inputs or significant value drivers are unobservable in the markets. These financial instruments are measured using management’s best estimate of fair value, where the inputs into the determination of fair value require significant management judgment to estimation. Valuations based on unobservable inputs are highly subjective and require significant judgments. Changes in such judgments could have a material impact on fair value estimates. In addition, since estimates are as of a specific point in time, they are susceptible to material near-term changes. Changes in economic conditions August also dramatically affect the estimated fair values. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of May 31, 2013. The respective carrying value of certain financial instruments approximated their fair values due to the short-term nature of these instruments. These financial instruments include accounts payable and accrued expenses, and related party payables. The fair value of the Company’s notes payable is estimated based on current rates that would be available for debt of similar terms which is not significantly different from its stated value.
Revenue Recognition	The Company recognized revenue on arrangements in accordance with ASC Topic 605, “Revenue Recognition”
Environmental Costs	Environmental expenditures that relate to current operations are expensed or capitalized as appropriate. Expenditures that relate to an existing condition caused by past operations, and which do not contribute to current or future revenue generation, are expensed. Liabilities are recorded when environmental assessments and/or remedial efforts are probable, and the cost can be reasonably estimated. Generally, the timing of these accruals coincides with the earlier of completion of a feasibility study or the Company’s commitments to plan of action based on the then known facts.
Stock Based Compensation	The Company accounts for Stock-Based Compensation under ASC 718 “Compensation – Stock Compensation”, which addresses the accounting for transactions in which an entity exchanges its equity instruments for goods or services, with a primary focus on transactions in which an entity obtains employee services in share-based payment transactions. ASC 718-10 is a revision to SFAS No. 123, “Accounting for Stock-Based Compensation,” and supersedes Accounting Principles Board (“APB”) Opinion No. 25, “Accounting for Stock Issued to Employees,” and its related implementation guidance. ASC 718-10 requires measurement of 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). Incremental compensation costs arising from subsequent modifications of awards after the grant date must be recognized. The Company accounts for stock-based compensation awards to non-employees in accordance with ASC 505-50 “Equity-Based Payments to Non-Employees” (“ASC 505-50”). Under ASC 505-50, the Company determines the fair value of the warrants or stock-based compensation awards granted as either the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. Any stock options issued to non-employees are recorded in expense and additional paid-in capital in shareholders’ equity/(deficit) over the applicable service periods using variable accounting through the vesting dates based on the fair value of the options at the end of each period. The Company has not adopted a stock option plan and has not granted any stock options as of May 31, 2013.
Income Taxes	Income taxes are accounted for under the liability method of accounting for income taxes. Under the liability method, future tax liabilities and assets are recognized for the estimated future tax consequences attributable to differences between the amounts reported in the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Future tax assets and liabilities are measured using enacted or substantially enacted income tax rates expected to apply when the asset is realized or the liability settled. The effect of a change in income tax rates on future income tax liabilities and assets is recognized in income in the period that the change occurs. Future income tax assets are recognized to the extent that they are considered more likely than not to be realized. The FASB has issued ASC 740 “Income Taxes” (formerly, Financial Interpretation No. 48, “Accounting for Uncertainty in Income Taxes” – An Interpretation of FASB Statement No. 109 (FIN 48)). ASC 740 clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements in accordance with prior literature FASB Statement No. 109, Accounting for Income Taxes. This standard requires a company to determine whether it is more likely than not that a tax position will be sustained upon examination based upon the technical merits of the position. If the more-likely-than-not threshold is met, a company must measure the tax position to determine the amount to recognize in the financial statements. As a result of the implementation of this standard, the Company performed a review of its material tax positions in accordance with recognition and measurement standards established by FASB ASC 740 and concluded that the tax position of the Company has not met the more-likely-than-not threshold as of May 31, 2013.
Basic and Diluted Loss Per Share	The Company computes income (loss) per share in accordance with ASC 260, “Earnings per Share”, which requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the statement of operations. Basic EPS is computed by dividing income (loss) available to common shareholders by the weighted average number of shares outstanding during the period. Diluted EPS gives effect to all dilutive potential shares of common stock outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. As of May 31, 2013 there were 131,785,714 potentially dilutive shares that could be issued if the common stock conversion feature contained in the convertible notes payable were exercised.
Emerging Growth Company	We qualify as an “emerging growth company” under the 2012 JOBS Act. Section 107 of the JOBS Act provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. As an emerging growth company, we can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected to take advantage of the benefits of this extended transition period.
Effect of Recent Accounting Pronouncements	In October 2012, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2012-04, ‘‘Technical Corrections and Improvements” in Accounting Standards Update No. 2012-04. The amendments in this update cover a wide range of Topics in the Accounting Standards Codification. These amendments include technical corrections and improvements to the Accounting Standards Codification and conforming amendments related to fair value measurements. The amendments in this update will be effective for fiscal periods beginning after December 15, 2012. The adoption of ASU 2012-04 is not expected to have a material impact on our financial position or results of operations. In August 2012, the FASB issued ASU 2012-03, “Technical Amendments and Corrections to SEC Sections: Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin (SAB) No. 114, Technical Amendments Pursuant to SEC Release No. 33-9250, and Corrections Related to FASB Accounting Standards Update 2010-22 (SEC Update)” in Accounting Standards Update No. 2012-03. This update amends various SEC paragraphs pursuant to the issuance of SAB No. 114. The adoption of ASU 2012-03 is not expected to have a material impact on our financial position or results of operations. In June 2014, the FASB issued ASU 2014-10, “Development Stage Entities” which eliminated the definition of a development stage entity from U.S. generally accepted accounting principles and removed the additional disclosure requirements for such entities. The Company did not issue any financial statements subsequent to the implementation of ASU 2014-10. The Company adopted the early application of the provisions of ASU 2014-10. The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

INCOME TAX (Tables)

INCOME TAX (Tables)	3 Months Ended
	May 31, 2013
Income Tax Tables
Provisions for income taxes	The provisions for income taxes differ from the amount computed by applying the statutory federal income tax rate to Income before provision for income taxes. The source and tax effects of the differences are as follows for the periods ended February 28, 2013 and May 31, 2013: 2/28/13 5/31/13 U.S. federal statutory rate 35 % 35 % Valuation reserve -35 % -35 % Total 0 % 0 %

NATURE OF BUSINESS, PRESENTAT16

NATURE OF BUSINESS, PRESENTATION, AND GOING CONCERN (Details Narrative) - shares	Feb. 09, 2009	May 31, 2013	Feb. 28, 2013	Apr. 13, 2010
State or country of incorporation		Nevada
Date of incorporation		Apr. 13, 2006
Common stock, shares issued		119,966,362	119,966,362
Dove Diamond and Mining, Inc. [Member] | Acquisition Agreement [Member]
Common stock newly issued shares restricted	20,622,000
Common stock, percentage	100.00%
Millennium Mining LLC [Member]
Common stock, shares issued				30,000,000

SUMMARY OF SIGNIFICANT ACCOUN17

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended
	May 31, 2013	Feb. 28, 2013
Cash equivalents	$ 31	$ 2
Potentially dilutive shares	131,785,714
Property and Equipment [Member]
Estimated Useful Life (Years)	10 years

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	3 Months Ended
	May 31, 2013	May 31, 2012	Feb. 28, 2013
Going Concern Details Narrative
Accumulated Deficit	$ (16,294,197)		$ (14,438,858)
Net cash used in operation	$ (129,486)	$ (9,465)

CONVERTIBLE NOTES PAYABLE (Deta

CONVERTIBLE NOTES PAYABLE (Details Narrative) - USD ($)	Nov. 05, 2012	May 31, 2013	May 20, 2009	May 30, 2008	Feb. 28, 2013	Dec. 31, 2012
Derivative Liability		$ 1,853,659			$ 101,140	$ 101,140
Paul M’Bayo [Member] | Unsecured Promissory Note [Member]
Proceeds from Issuance of Unsecured Debt				$ 18,500
Interest due				6.00%
Due date				May 30, 2009
Convertible debt					$ 18,500
Common shares, issued					18,500,000
Conversion rate				0.00%
Kevin Cheung [Member] | Unsecured Promissory Note [Member]
Proceeds from Issuance of Unsecured Debt			$ 6,500
Interest due			6.00%
Due date			May 20, 2010
Conversion rate			1.00%
Mr. Dovid Hauck [Member] | Unsecured Promissory Note [Member]
Proceeds from Issuance of Unsecured Debt	$ 5,000
Conversion rate	50.00%
Prepaid interest	$ 1,000
Mayfair Sterling, Inc [Member] | Unsecured Promissory Note [Member]
Proceeds from Issuance of Unsecured Debt		$ 125,000
Interest due		6.00%
Due date		May 1, 2014
Conversion rate		0.10%

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	Feb. 09, 2009	May 31, 2013	Feb. 28, 2013	Apr. 13, 2010
Accounts Payable- Related Party		$ 14,960	$ 14,935
Common stock, shares issued		119,966,362	119,966,362
Millennium Mining LLC [Member]
Common stock, shares issued				30,000,000
Acquisition Agreement [Member] | Dove Diamond and Mining, Inc. [Member]
Common stock newly issued shares restricted	20,622,000
Common stock, percentage	100.00%

STOCKHOLDERS_ EQUITY (Details N

STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($)	1 Months Ended	12 Months Ended
	Jul. 29, 2010	Feb. 28, 2013	Feb. 29, 2012	May 31, 2013
Common Stock, Shares Authorized	250,000,000	250,000,000		250,000,000
Common Shares, Par Value	$ 0.001
Preferred Stock,Shares Authorized	25,000,000	25,000,000		25,000,000
Preferred Stock, Par Value	$ 0.001
Common Stock, Shares Issued		119,966,362		119,966,362
Common stock,Shares for consulting services		2,500,000	9,865,740
Common stock, for consulting services			$ 350,000
Common stock for Other services			1,150,000
Non cash expense			$ 1,449,861
Common Stock [Member]
Common Stock, Shares Issued		18,500,000	3,817,460
Common Stock, issued for servies value		$ 75,000	$ 159,500
Series A Preferred Stock [Member]
Preferred Stock Series Shares Designated	$ 1,000,000	$ 1,000,000		$ 1,000,000
Preferred Stock,Shares Outstanding		0		0
Conversion Of Stock Description	The Series A Preferred Stock may be converted at any time by the holder into common shares at a rate of 1:1. Each share of Series A Preferred Stock will vote equivalent to one share of common stock.
Series B Preferred Stock [Member]
Preferred Stock Series Shares Designated	$ 24,000,000	$ 24,000,000		$ 24,000,000
Preferred Stock,Shares Outstanding		4,981,350		4,981,350
Conversion Of Stock Description	The Series B Preferred Stock may be converted at any time by the holder into common shares at a rate of 1:1. Each share of Series B Preferred Stock will vote equivalent to one share of common stock.

INCOME TAX (Details)

INCOME TAX (Details)	3 Months Ended
	May 31, 2013	Feb. 28, 2013
Income Taxes Details
U.S. federal statutory rate	3500.00%	3500.00%
Valuation reserve	(3500.00%)	(3500.00%)
Total	0.00%	0.00%

INCOME TAX (Details Narrative)

INCOME TAX (Details Narrative)	1 Months Ended	3 Months Ended
	May 31, 2013	May 31, 2013
Income Tax Details Narrative
Income Tax Description	If a tax benefit meets this criterion, it is measured and recognized based on the largest amount of benefit that is cumulatively greater than 50% likely to be realized.	Nor do we anticipate any significant unrecognized tax benefits will be recorded during the next 12 months.

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - Subsequent Event [Member] - shares	Apr. 04, 2017	Jan. 11, 2017	Dec. 02, 2016
Wang DeQun[Member] | Class E Preferred Stock [Member]
Acquisition of patent	100,000
Conversion Of Stock Description	Preferred Stock also convertible into 250,000,000 shares of the Company’s common stock and having voting rights equal to 250,000,000 shares of the Company’s common stock.
Wang DeQun[Member] | Sole officer and President [Member] | Class A Convertible Preferred Stock [Member]
Purchase of Convertible Preferred Stock			300,000
Conversion Of Stock Description			Preferred Stock convertible into 750,000,000 shares of the Company’s common stock and having voting rights equivalent to 750,000,000 common shares.
Ji Ming Yang Amperex Technology Limited [Member] | Class D Preferred Stock [Member]
Purchase of Convertible Preferred Stock		100,000
Conversion Of Stock Description		Preferred Stock convertible into 250,000,000 shares of the Company’s common stock and having voting rights equal to 250,000,000 shares of common stock.