Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Jun. 30, 2019 | Apr. 29, 2020 | Dec. 31, 2019 | |
Document and Entity Information [Abstract] | |||
Entity Registrant Name | Anchorage International Holdings Corp. | ||
Entity Central Index Key | 0001451797 | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --06-30 | ||
Document Type | 10-K | ||
Document Period End Date | Jun. 30, 2019 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2019 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Shell Company | true | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Public Float | $ 2,096,640 | ||
Entity Common Stock, Shares Outstanding | 938,980,000 | ||
Entity Interactive Data Current | Yes | ||
Entity File Number | 333-156254 | ||
Entity Incorporation State Country Code | DE |
Balance Sheets
Balance Sheets - USD ($) | Jun. 30, 2019 | Jun. 30, 2018 |
Current assets: | ||
Total assets | ||
Current liabilities: | ||
Accounts payable | 73,828 | 73,078 |
Loans payable related party | 114,630 | 114,630 |
Total current liabilities | 188,458 | 187,708 |
Total liabilities | ||
Commitments and contingencies | ||
Stockholders' Equity: | ||
Preferred stock, $0.00001 par value, 10,000,000 shares authorized, no shares issued and outstanding as of June 30, 2020 and 2019 | ||
Common stock, $0.00001 par value, 2,000,000,000 shares authorized; 938,880,000 issued and outstanding as of June 30, 2019 and June 30, 2018, respectively | 9,388 | 9,388 |
Additional paid-in capital | 376,985 | 376,985 |
Retained earnings deficit | (574,831) | (574,081) |
Total stockholders' equity(deficit) | (188,458) | (187,708) |
Total liabilities and equity |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Jun. 30, 2019 | Jun. 30, 2018 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.00001 | $ 0.00001 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | ||
Preferred stock, shares outstanding | ||
Common stock, par value | $ 0.00001 | $ 0.00001 |
Common stock, shares authorized | 2,000,000,000 | 2,000,000,000 |
Common stock, shares issued | 938,880,000 | 938,880,000 |
Common stock, shares outstanding | 938,880,000 | 938,880,000 |
Statements of Operations
Statements of Operations - USD ($) | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Operating expenses: | ||
General and administrative expense | $ 750 | $ 750 |
Total operating expenses | 750 | 750 |
Income loss from operations | (750) | (750) |
Other income (expense) | ||
Total other income (expense) | ||
Net loss | $ (750) | $ (750) |
Basic and diluted earnings (loss) per common share | $ 0 | $ 0 |
Weighted-average number of common shares outstanding: | ||
Basic and diluted | 938,880,000 | 938,880,000 |
Statements of Changes in Stockh
Statements of Changes in Stockholder's Equity - USD ($) | Preferred Stock | Common stock | Additional Paid-in Capital | Retained Earnings (Deficit) | Total |
Balance at Jun. 30, 2017 | $ 9,388 | $ 376,985 | $ (573,331) | $ (186,958) | |
Balance, shares at Jun. 30, 2017 | 938,880,000 | ||||
Net income (loss) | (750) | (750) | |||
Balance at Jun. 30, 2018 | $ 9,388 | 376,985 | (574,081) | (187,708) | |
Balance, shares at Jun. 30, 2018 | 938,880,000 | ||||
Net income (loss) | (750) | (750) | |||
Balance at Jun. 30, 2019 | $ 9,388 | $ 376,985 | $ (574,831) | $ (188,458) | |
Balance, shares at Jun. 30, 2019 | 938,880,000 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Cash flows from operating activities of continuing operations: | ||
Net loss | $ (750) | $ (750) |
Changes in operating assets and liabilities: | ||
Accounts payable | 750 | 750 |
Net cash provided by (used in) operating activities | ||
Cash flow from investing activities | ||
Cash flows from financing activities: | ||
Related party loan | ||
Net cash provided by (used in) financing activities | ||
Net increase (decrease) in cash and cash equivalents | ||
Cash and cash equivalents at beginning of period | ||
Cash and cash equivalents at end of period | ||
Supplemental disclosure of cash flow information: | ||
Cash paid for interest | ||
Cash paid for income taxes |
Organization and Description of
Organization and Description of Business | 12 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
ORGANIZATION AND DESCRIPTION OF BUSINESS | NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS Anchorage International Holdings Corp. was incorporated as MojoRepublik, Inc. in the state of Delaware on September 10, 2007. On October 1, 2008, the Company changed its name to Republik Media and Entertainment, Ltd. On August 26, 2013, the Company changed its name to Anchorage International Holdings Corp. The Company has been dormant since March 31, 2014. On February 19, 2020, Custodian Ventures, LLC, an investment company owned by David Lazar, entered into a Stock Purchase and Sale Agreement (the "Agreement") with Jason Sakowski in which Mr. Lazar agreed to purchase 777,600,000 shares of the Company's common stock, par value $0.00001 per share, representing 82.8 percent of the total issued and outstanding common stock of the Company (the "Acquisition"). Following the execution of the Agreement, on February 28, 2020, the Company's board of directors approved, by unanimous written consent instead of a special meeting of the Board, the appointment of David Lazar as the new sole director of the Company. On February 28, 2020, the Company's stockholders approved the appointment by a vote of 82.8 percent of the total voting stock of the Company. The Acquisition closed on March 18, 2020. The Company has been dormant since March 31, 2014. The Company's accounting year-end is June 30. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying financial statements have been prepared in accordance with the Financial Accounting Standards Board (" FASB Codification GAAP Going Concern The accompanying financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business for the twelve-month period following the date of these financial statements. The Company has incurred significant operating losses since inception. As of June 30, 2019, the company had a working capital deficit of $188,458 and negative shareholders' equity of $574,831. Because the Company does not expect that existing operational cash flow will be sufficient to fund presently anticipated operations, this raises substantial doubt about the Company's ability to continue as a going concern. Therefore, the Company will need to raise additional funds and is currently exploring alternative sources of financing. The Company is currently being funded by David Lazar who is extending interest free demand loans to the Company. Historically, the Company has raised capital through private placements, as an interim measure to finance working capital needs and may continue to raise additional capital through the sale of common stock or other securities and obtaining some short-term loans. The Company will be required to continue to so until its operations become profitable. Also, the Company has, in the past, paid for consulting services with its common stock to maximize working capital, and intends to continue this practice where feasible. Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The most significant estimates relate to income taxes and contingencies. The Company bases its estimates on historical experience, known or expected trends and various other assumptions that are believed to be reasonable given the quality of information available as of the date of these financial statements. The results of these assumptions provide the basis for making estimates about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results could differ from these estimates. Revenue Recognition We have not generated any revenue since inception. On July 1, 2018, the Company adopted Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers ("ASC 606"). Results for reporting periods beginning after January 1, 2018, are presented under ASC 606. As of and for the year ended June 30, 2019 the financial statements were not impacted due to the application of Topic 606 because the Company had no revenues. Cash and cash equivalents The Company considers all highly liquid temporary cash investments with an original maturity of three months or less to be cash equivalents. On June 30, 2019, and June 30, 2018, the Company's cash equivalents totaled $0 and $0 respectively. Income taxes The Company accounts for income taxes under FASB ASC 740, "Accounting for Income Taxes" "Accounting for Uncertainty in Income Taxes" The amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. The Company assesses the validity of its conclusions regarding uncertain tax positions quarterly to determine if facts or circumstances have arisen that might cause it to change its judgment regarding the likelihood of a tax position's sustainability under audit. Stock-based Compensation The Company accounts for stock-based compensation using the fair value method following the guidance outlined 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. Net Loss per Share Net loss per common share is computed by dividing net loss by the weighted average common shares outstanding during the period as defined by Financial Accounting Standards, ASC Topic 260, "Earnings per Share." Basic earnings per common share ("EPS") calculations are determined by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per common share calculations are determined by dividing net income by the weighted average number of common shares and dilutive common share equivalents outstanding. Recent Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) Codification Improvements Codification Improvements to Topic 842, Leases (Topic 842) Targeted Improvements, We intend to adopt ASC 842 on July 1, 2020. The adoption of this guidance did not have any impact on our financial statements. Stockholders' Equity The Company has authorized 2,000,000,000 shares of Common Stock and 10,000,000 shares of Preferred Stock. As of June 30, 2019, and June 30, 2018, respectively, there were 938,880,000 shares of Common Stock issued and outstanding, and no shares of Preferred Stock issued and outstanding. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Jun. 30, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 3 – COMMITMENTS AND CONTINGENCIES The Company did not have any contractual commitments of June 30, 2019, and 2018 |
Subsequent Events
Subsequent Events | 12 Months Ended |
Jun. 30, 2019 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 4 – SUBSEQUENT EVENTS On February 28, 2020 (the "Effective Time"), Jason Sakowski resigned from his positions as the sole member of the Board of Directors (the "Board"), President, CEO, Treasurer, CFO and Secretary of Anchorage International Holdings Corp. (the "Company"). The resignation is not the result of any disagreement with the Company on any matter related to the Company's operations, policies or practices. The resignation is effected by a written consent in lieu of a special meeting of the Board, dated February 28, 2020. On February 28, 2020, the Company's Board approved, by unanimous written consent in lieu of a special meeting of the Board, the appointment of David Lazar as the new sole director of the Company, effective as of the Effective Time. The Board submitted such appointment for approval and ratification by the Company's stockholders, who approved such an appointment by a vote of 82.8 percent of the total voting stock of the Company. Pursuant to the February 28, 2020 Board consent, the Company's departing director also appointed Mr. Lazar as the Company's President, CEO, Treasurer, CFO and Secretary, to serve on an at-will basis until his resignation or removal by the Board. Mr. Lazar agreed to negotiate an employment agreement in good faith at an unspecified future date, and he does not anticipate taking cash compensation from the Company in connection with his service as an officer of the Company. Mr. Lazar was selected based on his background and history of growing strong businesses and delivering long term growth in shareholder value. The Company believes that Mr. Lazar possesses the attributes necessary to create substantial value for the Company's stockholders. On February 19, 2020, Custodian Ventures, LLC, an investment company owned by David Lazar, entered into a Stock Purchase and Sale Agreement with Jason Sakowski in which Mr. Lazar agreed to purchase 777,600,000 shares of the Company's common stock, par value $0.00001 per share, representing 82.8 percent of the total issued and outstanding common stock of the Company (the "Acquisition"). Following the execution of the Agreement, on February 28, 2020, the Company's board of directors approved, by unanimous written consent in lieu of a special meeting of the Board, the appointment of David Lazar as the new sole director of the Company. On February 28, 2020, the Company's stockholders approved the appointment by a vote of 82.8 percent of the total voting stock of the Company. The Acquisition closed on March 18, 2020. On April 27, 2020, the Company issued 100,000 shares to settle a claim. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying financial statements have been prepared in accordance with the Financial Accounting Standards Board (" FASB Codification GAAP |
Going Concern | Going Concern The accompanying financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business for the twelve-month period following the date of these financial statements. The Company has incurred significant operating losses since inception. As of June 30, 2019, the company had a working capital deficit of $188,458 and negative shareholders' equity of $574,831. Because the Company does not expect that existing operational cash flow will be sufficient to fund presently anticipated operations, this raises substantial doubt about the Company's ability to continue as a going concern. Therefore, the Company will need to raise additional funds and is currently exploring alternative sources of financing. The Company is currently being funded by David Lazar who is extending interest free demand loans to the Company. Historically, the Company has raised capital through private placements, as an interim measure to finance working capital needs and may continue to raise additional capital through the sale of common stock or other securities and obtaining some short-term loans. The Company will be required to continue to so until its operations become profitable. Also, the Company has, in the past, paid for consulting services with its common stock to maximize working capital, and intends to continue this practice where feasible. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The most significant estimates relate to income taxes and contingencies. The Company bases its estimates on historical experience, known or expected trends and various other assumptions that are believed to be reasonable given the quality of information available as of the date of these financial statements. The results of these assumptions provide the basis for making estimates about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results could differ from these estimates. |
Revenue Recognition | Revenue Recognition We have not generated any revenue since inception. On July 1, 2018, the Company adopted Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers ("ASC 606"). Results for reporting periods beginning after January 1, 2018, are presented under ASC 606. As of and for the year ended June 30, 2019 the financial statements were not impacted due to the application of Topic 606 because the Company had no revenues. |
Cash and cash equivalents | Cash and cash equivalents The Company considers all highly liquid temporary cash investments with an original maturity of three months or less to be cash equivalents. On June 30, 2019, and June 30, 2018, the Company's cash equivalents totaled $0 and $0 respectively. |
Income taxes | Income taxes The Company accounts for income taxes under FASB ASC 740, "Accounting for Income Taxes" "Accounting for Uncertainty in Income Taxes" The amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. The Company assesses the validity of its conclusions regarding uncertain tax positions quarterly to determine if facts or circumstances have arisen that might cause it to change its judgment regarding the likelihood of a tax position's sustainability under audit. |
Stock-based Compensation | Stock-based Compensation The Company accounts for stock-based compensation using the fair value method following the guidance outlined 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. |
Net Loss per Share | Net Loss per Share Net loss per common share is computed by dividing net loss by the weighted average common shares outstanding during the period as defined by Financial Accounting Standards, ASC Topic 260, "Earnings per Share." Basic earnings per common share ("EPS") calculations are determined by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per common share calculations are determined by dividing net income by the weighted average number of common shares and dilutive common share equivalents outstanding. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) Codification Improvements Codification Improvements to Topic 842, Leases (Topic 842) Targeted Improvements, We intend to adopt ASC 842 on July 1, 2020. The adoption of this guidance did not have any impact on our financial statements. |
Stockholders' Equity | Stockholders' Equity The Company has authorized 2,000,000,000 shares of Common Stock and 10,000,000 shares of Preferred Stock. As of June 30, 2019, and June 30, 2018, respectively, there were 938,880,000 shares of Common Stock issued and outstanding, and no shares of Preferred Stock issued and outstanding. |
Organization and Description _2
Organization and Description of Business (Details) - Forecast [Member] - $ / shares | 1 Months Ended | |
Feb. 28, 2020 | Feb. 19, 2020 | |
Organization and Description of Business (Textual) | ||
Voting percentage | 82.80% | |
David Lazar [Member] | ||
Organization and Description of Business (Textual) | ||
Purchase of shares | 777,600,000 | |
Common stock, par value | $ 0.00001 | |
Issued and outstanding, percentage | 82.80% |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details) - USD ($) | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 |
Summary of Significant Accounting Policies (Textual) | |||
Working capital deficit | $ 188,458 | ||
Shareholders' equity | (188,458) | $ (187,708) | $ (186,958) |
Cash equivalents | |||
Preferred stock authorized | 10,000,000 | 10,000,000 | |
Preferred stock issued | |||
Preferred stock outstanding | |||
Common stock authorized | 2,000,000,000 | 2,000,000,000 | |
Common stock issued | 938,880,000 | 938,880,000 | |
Common stock outstanding | 938,880,000 | 938,880,000 |
Commitments and Contingencies (
Commitments and Contingencies (Details) - USD ($) | Jun. 30, 2019 | Jun. 30, 2018 |
Commitments and Contingencies (Textual) | ||
Contractual commitments |
Subsequent Events (Details)
Subsequent Events (Details) - Forecast [Member] - $ / shares | 1 Months Ended | ||
Feb. 28, 2020 | Feb. 19, 2020 | Apr. 27, 2020 | |
Subsequent Events (Textual) | |||
Voting percentage | 82.80% | ||
Shares issued | 100,000 | ||
David Lazar [Member] | |||
Subsequent Events (Textual) | |||
Purchase of shares | 777,600,000 | ||
Common stock, par value | $ 0.00001 | ||
Issued and outstanding, percentage | 82.80% |