Retrieve Medical (RMHI) 10-K 19 Dec 22 2020 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Sep. 30, 2020	Dec. 16, 2022	Mar. 31, 2020
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Sep. 30, 2020
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020
Current Fiscal Year End Date	--09-30
Entity File Number	005-87668
Entity Registrant Name	PEAK PHARMACEUTICALS, INC.
Entity Central Index Key	0001452804
Entity Incorporation, State or Country Code	NV
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	No
Entity Interactive Data Current	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	true
Entity Public Float			$ 901,322
Entity Common Stock, Shares Outstanding		78,363,567

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2020	Sep. 30, 2019
Current Assets
Cash	$ 408	$ 527
Total current assets	408	527
Total Assets	408	527
Current liabilities:
Accounts payable (including $88,020 and $87,237 due to related parties)	162,532	157,117
Accrued liabilities	24,972	15,495
Convertible notes payable	20,000	20,000
Notes payable	43,000	43,000
Total current liabilities	250,504	235,612
Total Liabilities	250,504	235,612
Stockholders' Deficit
Preferred stock, $0.0001 par value, 25,000,000 authorized, none issued or outstanding
Common stock, $0.0001 par value, 300,000,000 shares authorized, 78,363,567 shares issued and outstanding	7,836	7,836
Additional paid in capital	4,855,566	4,855,566
Accumulated deficit	(5,113,498)	(5,098,487)
Total Stockholders' Deficit	(250,096)	(235,085)
Total Liabilities and Stockholders' Deficit	$ 408	$ 527

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Sep. 30, 2020	Sep. 30, 2019
Statement of Financial Position [Abstract]
Accounts Payable, Related Parties, Current	$ 88,020	$ 85,062
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	78,363,567	78,363,567
Common stock, shares outstanding	78,363,567	78,363,567

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Operating expenses:
General and administrative (including fees paid to related party of $783 and $1,252)	$ 5,535	$ 5,684
Total operating expenses	5,535	5,684
Operating loss	(5,535)	(5,684)
Other expenses:
Interest expense	(9,476)	(8,309)
Total other expenses	(9,476)	(8,309)
Net loss	$ (15,011)	$ (13,993)
Per share information:
Weighted average shares outstanding - basic and diluted	78,363,567	78,363,567
Net loss per share - basic and diluted	$ 0	$ 0

CONSOLIDATED STATEMENTS OF OP_2

CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Related Party, General and Administrative Expenses	$ 783	$ 1,252

CONSOLIDATED STATEMENT OF STOCK

CONSOLIDATED STATEMENT OF STOCKHOLDERS' DEFICIT - USD ($)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Beginning Balance, Amount at Sep. 30, 2018	$ 7,836	$ 4,855,566	$ (5,084,494)	$ (221,092)
Beginning Balance, Shares at Sep. 30, 2018	78,363,567
Net income			(13,993)	(13,993)
Ending Balance, Amount at Sep. 30, 2019	$ 7,836	4,855,566	(5,098,487)	(235,085)
Ending Balance, Shares at Sep. 30, 2019	78,363,567
Net income			(15,011)	(15,011)
Ending Balance, Amount at Sep. 30, 2020	$ 7,836	$ 4,855,566	$ (5,113,498)	$ (250,096)
Ending Balance, Shares at Sep. 30, 2020	78,363,567

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net income (loss)	$ (15,011)	$ (13,993)
Change in operating assets and liabilities:
Accounts payable	4,632	1,766
Accounts payable - related parties	783	2,175
Accrued liabilities	9,477	8,309
Net cash used in operating activities	(119)	(1,743)
Net change in cash	(119)	(1,743)
Cash, beginning of period	527	2,270
Cash, end of period	408	527
Supplemental disclosure of cash flow information
Cash paid for interest
Cash paid for income taxes

NATURE OF OPERATIONS, BASIS OF

NATURE OF OPERATIONS, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Sep. 30, 2020
Nature Of Operations Basis Of Presentation And Summary Of Significant Accounting Policies
NATURE OF OPERATIONS, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 – NATURE OF OPERATIONS, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The Company was incorporated in Nevada on December 18, 2007. After a number of name changes, we again, changed our name to Peak Pharmaceuticals, Inc. on December 23, 2014. This name was consistent with our business operations and plans relating to development, manufacturing and marketing of hemp-based nutraceutical and supplement products for the human and animal health markets. On October 1, 2015, we discontinued certain operations of the Company. The Company is currently a “shell company” (as such term is defined in Rule 12b-2 under the Exchange Act). Throughout this report, the terms “our,” “we,” “us,” and the “Company” refer to Peak Pharmaceuticals, Inc. and its wholly-owned subsidiary, Peak BioPharma Corp. Basis of Presentation The accompanying consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Basis of Consolidation The consolidated financial statements include the financial statements of the Company and our wholly owned subsidiary Peak BioPharma Corp. All inter-company balances and transactions among the companies have been eliminated upon consolidation. Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. Significant estimates made in connection with the accompanying consolidated financial statements include the valuation allowances against net deferred tax assets and accounting for convertible debt. Financial Instruments Our financial instruments consist of cash, accounts payable, notes payable and convertible notes. The carrying values of these instruments approximate fair value due to the short-term maturities of these instruments. Fair Value Measurements Financial Accounting Standards Board (“FASB”) ASC Topic 820, Fair Value Measurements and Disclosures Level 1 - Quoted prices are available in active markets for identical assets or liabilities as of the reported date. The types of assets and liabilities included in Level 1 are highly liquid and actively traded instruments with quoted prices. Level 2 - Pricing inputs are other than quoted prices in active markets but are either directly or indirectly observable as of the reported date. The types of assets and liabilities in Level 2 are typically either comparable to actively traded securities or contracts or priced with models using highly observable inputs. Level 3 - Significant inputs to pricing that are unobservable as of the reporting date. The types of assets and liabilities included in Level 3 are those with inputs requiring significant management judgment or estimation, such as complex and subjective models and forecasts used to determine the fair value of financial transmission rights. In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement. Loss Per Share We calculate net loss per share in accordance with ASC Topic 260, Earnings per Share As of September 30, 2020 and 2019, the Company had two convertible notes with principal and accrued interest balances totaling $29,366 and $26,357, respectively. The note holders are entitled, at their option, to convert all or a part of their options at the date into shares of the of common stock in the Company at a price equal to a 20% discount to the closing price of the common stock on the date of the lender’s notice of conversion, subject to a floor of $0.01. These common stock equivalents of approximately 3,058,935 and 2,745,572 shares for the years ended September 30, 2020 and 2019, respectively, are not included in the calculation of diluted EPS as their effect would be anti-dilutive. As of September 30, 2020 and 2019, the Company had 3,291,000 in stock options outstanding which are exercisable at the holders’ option, with an exercise price of $0.0067, which are not included in the calculation of diluted EPS as their effect would be anti-dilutive. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. As of September 30, 2020, the Company does not have any cash equivalents. Convertible Notes Payable We review convertible notes payable and the related subscription agreements to determine the appropriate reporting within the financial statements. We report convertible notes payable as liabilities at their carrying value less unamortized discounts in accordance with the applicable accounting guidance. We bifurcate conversion options and report them as liabilities at fair value at each reporting period when required in accordance with the applicable accounting guidance. We had no such liabilities as of September 30, 2020 and 2019. No gain or loss is reported when the notes are converted into shares of our common stock in accordance with the note’s terms. Income Taxes The Company records income taxes under the asset and liability method, whereby deferred tax assets and liabilities are recognized based on the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and attributable to operating loss carryforwards. The carrying amounts of deferred tax assets are reduced by a valuation allowance if, based on available evidence, it is more likely than not that such assets will not be realized. Accordingly, the need to establish valuation allowances for deferred tax assets is assessed periodically based on the more-likely-than-not recognition threshold. This assessment considers, among other matters, the nature, frequency, and severity of current and cumulative losses, the duration of statutory carryforward periods, and tax planning alternatives. The Company assesses the likelihood that uncertain tax positions will be accepted by the applicable taxing authority based on the technical merits of the position. Tax positions meeting the more-likely-than-not recognition threshold are measured and recognized in the consolidated financial statements at the largest amount of benefit that has a greater than 50% likelihood of being realized upon measurement of a tax position taken in a prior annual period, including interest and penalties, and are recognized during the period in which the change occurs. This evaluation is required to be performed for all open tax years, as defined by the various statutes of limitations, for federal and state purposes. For the years ended September 30, 2020 and 2019, we did not have any interest and penalties or any significant unrecognized uncertain tax positions. The Company recognizes accrued interest and penalties related to the unrecognized tax benefits in operating expenses. Recently Issued Accounting Pronouncements Management does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s financial statements. From time to time, new accounting pronouncements are issued that we adopt as of the specified effective date. We believe that the impact of recently issued standards that are not yet effective may have an impact on our results of operations and financial position. On August 5, 2020, the FASB issued Accounting Standards Update (ASU) 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40 In December 2019, the FASB issued ASU No. 2019-12, Income Taxes – Simplifying the Accounting for Income Taxes In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments Financial Instruments - Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) Recently Adopted Accounting Pronouncements In August 2018, the FASB issued ASU No. 2018-13, Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement In February 2016, the FASB issued ASU No. 2016-02, Leases,

GOING CONCERN AND MANAGEMENT'S

GOING CONCERN AND MANAGEMENT'S LIQUIDITY PLANS	12 Months Ended
	Sep. 30, 2020
Going Concern And Managements Liquidity Plans
GOING CONCERN AND MANAGEMENT'S LIQUIDITY PLANS	NOTE 2 – GOING CONCERN AND MANAGEMENT’S LIQUIDITY PLANS As of September 30, 2020, the Company had an accumulated deficit of $5,113,498 and a working capital deficiency of $250,096. During year ended September 30, 2020, the Company used cash in operating activities of $119. As of September 30, 2020, the Company had cash of $408. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The Company recognizes it will need to raise additional capital in order to fund operations and meet its payment obligations. There is no assurance that additional financing will be available when needed or that management will be able to obtain financing on terms acceptable to the Company and whether the Company will generate revenues, become profitable and generate positive operating cash flow. If the Company is unable to raise sufficient additional funds on favorable terms, it will have to develop and implement a plan to further extend payables and to raise capital through the issuance of debt or equity on less favorable terms until sufficient additional capital is raised to support further operations. There can be no assurance that such a plan will be successful. Accordingly, the accompanying consolidated financial statements have been prepared in conformity with U.S. GAAP, which contemplates continuation of the Company as a going concern and the realization of assets and the satisfaction of liabilities in the normal course of business. The carrying amounts of assets and liabilities presented in the consolidated financial statements do not necessarily represent realizable or settlement values. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Sep. 30, 2020
Related Party Transactions
RELATED PARTY TRANSACTIONS	NOTE 3 – RELATED PARTY TRANSACTIONS Parties, which can be corporations or individuals, are considered to be related if they have the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence. Accounts payable – related parties are amounts payable to current and former officers and directors for services provided to the Company totaling $88,020 and $87,237, as of September 30, 2020 and 2019, respectively. These amounts include accounts payable to an entity controlled by our sole officer and director for financial services such entity is incurring on behalf of the Company totaling $13,143 and $12,360, as of September 30, 2020 and 2019, respectively, Total expense incurred related to this entity was $783 and $1,252 for the years ended September 30, 2020 and 2019, respectively, with no other related party expenses incurred.

CONVERTIBLE NOTES PAYABLE AND N

CONVERTIBLE NOTES PAYABLE AND NOTES PAYABLE	12 Months Ended
	Sep. 30, 2020
Convertible Notes Payable And Notes Payable
CONVERTIBLE NOTES PAYABLE AND NOTES PAYABLE	NOTE 4 – CONVERTIBLE NOTES PAYABLE AND NOTES PAYABLE Convertible Notes Payable Loan with Trius Holdings Limited On March 17, 2017, the Company entered into an agreement with Trius Holdings Limited (“Trius”). Pursuant to the terms of the agreement, Trius acquired a 12% convertible note with an aggregate face value of $10,000. The note matures in one year and is unsecured. Trius is entitled, at its option, to convert all or a part of the principal outstanding at the date into shares of the of common stock in the Company at a price equal to a 20% discount to the closing price of the common stock on the date of the lender’s notice of conversion, subject to a floor of $0.01. On May 11, 2018, the agreement had been amended to extend the maturing date of the note from March 21, 2018 to March 21, 2019. As of September 30, 2020, the total balance and accrued interest owing under this note was $10,000 and $$4,705, respectively. As of the date of this report, that date has not been extended, and the Company is accruing interest at the default interest rate of 15%. Loan with Individual On March 30, 2017, the Company entered into an agreement with an individual. Pursuant to the terms of the agreement, the individual acquired a 12% convertible note with an aggregate face value of $10,000. The note matures in one year and is unsecured. The individual is entitled, at its option, to convert all or a part of the principal outstanding at the date into shares of the of common stock in the Company at a price equal to a 20% discount to the closing price of the common stock on the date of the lender’s notice of conversion, subject to a floor of $0.01. The default interest rate is 15%. On May 11, 2018, the agreement had been amended to extend the maturing date of the note from March 30, 2018 to March 30, 2019. As of September 30, 2020, the total balance and accrued interest owing under this note was $10,000 and $4,660, respectively. Subsequent to the year ended September 30, 2020, on December 3, 2021, the Company repaid this loan and accrued interest in full. Notes Payable Loan with Mediapark Investments Limited On January 10, 2018, the Company entered into an agreement with Mediapark Investments Limited (“Mediapark”.) Pursuant to the terms of the agreement, Mediapark acquired a 12% promissory note with an aggregate face value of $23,000. The note matures in 180 days on July 10, 2018 and is unsecured. As of July 9, 2018, the loan was extended to July 10, 2019. As of September 30, 2020, the total balance and accrued interest owing under this note was $23,000 and $8,363, respectively. As of the date of this report, that date has not been extended, and the Company is accruing interest at the default interest rate of 15%. Loan with Individual On April 2, 2018, the Company entered into an agreement with an individual. Pursuant to the terms of the agreement, we received a promissory note in the amount of $20,000. The note is unsecured, is due and payable in full on October 2, 2018, and accrues interest at a rate of 12% per annum. The default interest rate is 15%. As of the September 30, 2020, the total balance and accrued interest owing under this note was $20,000 and $6,883, respectively. Subsequent to the year ended September 30, 2020, on December 3, 2021, the Company repaid this loan and accrued interest in full.

STOCK OPTIONS

STOCK OPTIONS	12 Months Ended
	Sep. 30, 2020
Stock Options
STOCK OPTIONS	NOTE 5 – STOCK OPTIONS No stock options were granted during the years ended September 30, 2020 and 2019. The following is a summary of outstanding stock options issued to employees and directors as of September 30, 2020: Number Exercise Price per Average Outstanding September 30, 2020 and September 30, 2020 2,916,000 $ 0.0067 3.45 Exercisable 2,916,000 $ 0.0067 3.45 The following is a summary of outstanding stock options issued to non-employees, excluding directors, as of September 30, 2020 and 2019: Number Exercise Price per Average Outstanding September 30, 2020 and September 30, 2019 375,000 $ 0.0067 3.04 Exercisable 375,000 $ 0.0067 3.04 There was no equity-based compensation for the years ended September 30, 2020 and 2019.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Sep. 30, 2020
Income Taxes
INCOME TAXES	NOTE 6 – INCOME TAXES Deferred income tax provisions for the years ended September 30, 2020 and 2019 are summarized below: 2020 2019 Federal $ (3,200 ) $ (2,900 ) State (600 ) (500 ) Total deferred (3,800 ) (3,400 ) Change in valuation allowance 3,800 3,400 Income tax provision $ - $ - The provision for income taxes differs from the amount computed by applying the statutory federal income tax rate before provision for income taxes. The sources and tax effect of the differences are as follows: 2020 2019 Income tax provision – federal rate 21.0 % 21.0 % State income taxes, net of federal benefit 3.9 % 3.9 % Change in valuation allowance (24.9 )% (24.9 )% - - Significant components of the Company’s deferred tax assets and liabilities as September 30, 2020 and 2019 is as follows: 2020 2019 Deferred tax assets: Net operating losses $ 283,000 $ 279,000 Total deferred tax asset 283,000 279,000 Valuation allowance (283,000 ) (279,000 ) Deferred tax asset, net of allowance $ - $ - ASC 740 requires a valuation allowance to reduce the deferred tax assets reported if, based on the weight of evidence, it is more than likely than not that some portion or all of the deferred tax assets will not be recognized. After consideration of all the evidence, both positive and negative, management has determined that a full valuation allowance at September 30, 2020 and 2019, respectively, is necessary to reduce the deferred tax assets to the amount that is more likely than not to be realized. The change in valuation allowance was an increase of approximately $4,000 and $3,000 for the years ended September 30, 2020 and 2019, respectively. As of September 30, 2020, we have a net operating loss carry forwards of approximately $1,139,000 (2019: $1,124,000). The loss will be available to offset future taxable income. If not used, these carry forwards will expire in varying amounts through 2038. There are open statutes of limitations for taxing authorities in federal and state jurisdictions to audit our tax returns from 2015 through the current period. Our policy is to account for income tax related interest and penalties in income tax expense in the statement of operations. There have been no income tax related interest or penalties assessed or recorded. For the years ended September 30, 2020 and 2019 we did not have any interest and penalties associated with tax positions. As of September 30, 2020, we did not have any significant unrecognized uncertain tax positions. The Tax Cuts and Jobs Act (the Act) was enacted on December 22, 2017. The Act reduces the US federal corporate tax rate from 35% to 21% and requires the Company to re-measure certain deferred tax assets and liabilities based on the rates at which they are anticipated to reverse in the future, which is generally 21%. The Company adopted the new rate as it relates to the calculations of deferred tax amounts as of January 1, 2018.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Sep. 30, 2020
Subsequent Events
SUBSEQUENT EVENTS	NOTE 7 – SUBSEQUENT EVENTS Issuance of Loans Payable During the year ended September 30, 2021, the Company received an aggregate of $275,000 related to the issuance of 14 notes payable to various noteholders, including an aggregate of $35,000 as a result of two notes payable issued to the Company’s Chief Executive Officer, a related party. The notes are unsecured, bear interest at 1.5% per annum, and mature on September 30, 2021. To date, the Company has made principal and accrued interest payment of $65,000 and $14,191, respectively. As of the date of this report, the original due date of such notes has not been extended and are in default.

NATURE OF OPERATIONS, BASIS O_2

NATURE OF OPERATIONS, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Sep. 30, 2020
Disclosure Nature Of Operations Basis Of Presentation And Summary Of Significant Accounting Policies Policies Abstract
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).
Basis of Consolidation	Basis of Consolidation The consolidated financial statements include the financial statements of the Company and our wholly owned subsidiary Peak BioPharma Corp. All inter-company balances and transactions among the companies have been eliminated upon consolidation.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. Significant estimates made in connection with the accompanying consolidated financial statements include the valuation allowances against net deferred tax assets and accounting for convertible debt.
Financial Instruments	Financial Instruments Our financial instruments consist of cash, accounts payable, notes payable and convertible notes. The carrying values of these instruments approximate fair value due to the short-term maturities of these instruments.
Fair Value Measurements	Fair Value Measurements Financial Accounting Standards Board (“FASB”) ASC Topic 820, Fair Value Measurements and Disclosures Level 1 - Quoted prices are available in active markets for identical assets or liabilities as of the reported date. The types of assets and liabilities included in Level 1 are highly liquid and actively traded instruments with quoted prices. Level 2 - Pricing inputs are other than quoted prices in active markets but are either directly or indirectly observable as of the reported date. The types of assets and liabilities in Level 2 are typically either comparable to actively traded securities or contracts or priced with models using highly observable inputs. Level 3 - Significant inputs to pricing that are unobservable as of the reporting date. The types of assets and liabilities included in Level 3 are those with inputs requiring significant management judgment or estimation, such as complex and subjective models and forecasts used to determine the fair value of financial transmission rights. In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement.
Loss Per Share	Loss Per Share We calculate net loss per share in accordance with ASC Topic 260, Earnings per Share As of September 30, 2020 and 2019, the Company had two convertible notes with principal and accrued interest balances totaling $29,366 and $26,357, respectively. The note holders are entitled, at their option, to convert all or a part of their options at the date into shares of the of common stock in the Company at a price equal to a 20% discount to the closing price of the common stock on the date of the lender’s notice of conversion, subject to a floor of $0.01. These common stock equivalents of approximately 3,058,935 and 2,745,572 shares for the years ended September 30, 2020 and 2019, respectively, are not included in the calculation of diluted EPS as their effect would be anti-dilutive. As of September 30, 2020 and 2019, the Company had 3,291,000 in stock options outstanding which are exercisable at the holders’ option, with an exercise price of $0.0067, which are not included in the calculation of diluted EPS as their effect would be anti-dilutive.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. As of September 30, 2020, the Company does not have any cash equivalents.
Convertible Notes Payable	Convertible Notes Payable We review convertible notes payable and the related subscription agreements to determine the appropriate reporting within the financial statements. We report convertible notes payable as liabilities at their carrying value less unamortized discounts in accordance with the applicable accounting guidance. We bifurcate conversion options and report them as liabilities at fair value at each reporting period when required in accordance with the applicable accounting guidance. We had no such liabilities as of September 30, 2020 and 2019. No gain or loss is reported when the notes are converted into shares of our common stock in accordance with the note’s terms.
Income Taxes	Income Taxes The Company records income taxes under the asset and liability method, whereby deferred tax assets and liabilities are recognized based on the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and attributable to operating loss carryforwards. The carrying amounts of deferred tax assets are reduced by a valuation allowance if, based on available evidence, it is more likely than not that such assets will not be realized. Accordingly, the need to establish valuation allowances for deferred tax assets is assessed periodically based on the more-likely-than-not recognition threshold. This assessment considers, among other matters, the nature, frequency, and severity of current and cumulative losses, the duration of statutory carryforward periods, and tax planning alternatives. The Company assesses the likelihood that uncertain tax positions will be accepted by the applicable taxing authority based on the technical merits of the position. Tax positions meeting the more-likely-than-not recognition threshold are measured and recognized in the consolidated financial statements at the largest amount of benefit that has a greater than 50% likelihood of being realized upon measurement of a tax position taken in a prior annual period, including interest and penalties, and are recognized during the period in which the change occurs. This evaluation is required to be performed for all open tax years, as defined by the various statutes of limitations, for federal and state purposes. For the years ended September 30, 2020 and 2019, we did not have any interest and penalties or any significant unrecognized uncertain tax positions. The Company recognizes accrued interest and penalties related to the unrecognized tax benefits in operating expenses.
Recent Pronouncements	Recently Issued Accounting Pronouncements Management does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s financial statements. From time to time, new accounting pronouncements are issued that we adopt as of the specified effective date. We believe that the impact of recently issued standards that are not yet effective may have an impact on our results of operations and financial position. On August 5, 2020, the FASB issued Accounting Standards Update (ASU) 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40 In December 2019, the FASB issued ASU No. 2019-12, Income Taxes – Simplifying the Accounting for Income Taxes In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments Financial Instruments - Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) Recently Adopted Accounting Pronouncements In August 2018, the FASB issued ASU No. 2018-13, Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement In February 2016, the FASB issued ASU No. 2016-02, Leases,

STOCK OPTIONS (Tables)

STOCK OPTIONS (Tables)	12 Months Ended
	Sep. 30, 2020
Employee
Schedule of share-based compensation, stock options, activity	The following is a summary of outstanding stock options issued to employees and directors as of September 30, 2020: Number Exercise Price per Average Outstanding September 30, 2020 and September 30, 2020 2,916,000 $ 0.0067 3.45 Exercisable 2,916,000 $ 0.0067 3.45
Non-Employee
Schedule of share-based compensation, stock options, activity	The following is a summary of outstanding stock options issued to non-employees, excluding directors, as of September 30, 2020 and 2019: Number Exercise Price per Average Outstanding September 30, 2020 and September 30, 2019 375,000 $ 0.0067 3.04 Exercisable 375,000 $ 0.0067 3.04

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Sep. 30, 2020
Disclosure Income Taxes Tables Abstract
Schedule of Deferred Income Tax Provision	Deferred income tax provisions for the years ended September 30, 2020 and 2019 are summarized below: 2020 2019 Federal $ (3,200 ) $ (2,900 ) State (600 ) (500 ) Total deferred (3,800 ) (3,400 ) Change in valuation allowance 3,800 3,400 Income tax provision $ - $ -
Schedule of Income Tax Reconciliation	The provision for income taxes differs from the amount computed by applying the statutory federal income tax rate before provision for income taxes. The sources and tax effect of the differences are as follows: 2020 2019 Income tax provision – federal rate 21.0 % 21.0 % State income taxes, net of federal benefit 3.9 % 3.9 % Change in valuation allowance (24.9 )% (24.9 )% - -
Schedule of Deferred Tax Assets and Liabilities	Significant components of the Company’s deferred tax assets and liabilities as September 30, 2020 and 2019 is as follows: 2020 2019 Deferred tax assets: Net operating losses $ 283,000 $ 279,000 Total deferred tax asset 283,000 279,000 Valuation allowance (283,000 ) (279,000 ) Deferred tax asset, net of allowance $ - $ -

NATURE OF OPERATIONS, BASIS O_3

NATURE OF OPERATIONS, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Disclosure Nature Of Operations Basis Of Presentation And Summary Of Significant Accounting Policies Details Narrative Abstract
Anti-Dilutive Shares Excluded from Earning Per Share	3,058,935	2,745,572
Options outstanding	3,291,000	3,291,000
Cash and cash equivalents	$ 0

GOING CONCERN AND MANAGEMENT'_2

GOING CONCERN AND MANAGEMENT'S LIQUIDITY PLANS (Details Narrative) - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Disclosure Going Concern And Managements Liquidity Plans Details Narrative Abstract
Accumulated deficit	$ (5,113,498)	$ (5,098,487)
Working captial deficiency	(250,096)
Cash used in operating activities	(119)	(1,743)
Cash	$ 408	$ 527

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Account Payable - Related Parties	$ 88,020	$ 85,062
Related Party, General and Administrative Expenses	783	1,252
Entity Controller By Sole Officer and Director [Member]
Account Payable - Related Parties	$ 13,143	$ 10,185

CONVERTIBLE NOTES PAYABLE AND_2

CONVERTIBLE NOTES PAYABLE AND NOTES PAYABLE (Details Narrative) - USD ($)	Sep. 30, 2020	Apr. 02, 2020	Jan. 10, 2020	Sep. 30, 2019	Mar. 30, 2019	Mar. 17, 2019
Convertible notes payable	$ 20,000			$ 20,000
Notes payable	43,000			$ 43,000
Trius Holdings Limited [Member]
Convertible notes payable	10,000					$ 10,000
Accured Interest	4,705
Individual [Member]
Convertible notes payable	10,000				$ 10,000
Accured Interest	4,660
Mediapark Investments Limited [Member]
Notes payable	23,000		$ 23,000
Accured Interest	8,363
Individual [Member]
Notes payable	20,000	$ 20,000
Accured Interest	$ 6,883

STOCK OPTIONS (Details)

STOCK OPTIONS (Details)	12 Months Ended
	Sep. 30, 2020 $ / shares shares
Number of Options
Number of Options Outstanding, Beginning	3,291,000
Number of Options Outstanding, Ending	3,291,000
Employee
Number of Options
Number of Options Outstanding, Beginning	2,916,000
Number of Options Outstanding, Ending	2,916,000
Number of Options, Exercisable	2,916,000
Exercise Price per Share
Exercise Price per Share Outstanding, Ending | $ / shares	$ 0.0067
Exercise Price per Share, Exercisable | $ / shares	$ 0.0067
Average Remaining Term (in Years)
Average Remaining Terms Outstanding, Ending	3 years 5 months 12 days
Average Remaining Terms, Exersiable	3 years 5 months 12 days
Non-Employee
Number of Options
Number of Options Outstanding, Beginning	375,000
Number of Options Outstanding, Ending	375,000
Number of Options, Exercisable	375,000
Exercise Price per Share
Exercise Price per Share Outstanding, Ending | $ / shares	$ 0.0067
Exercise Price per Share, Exercisable | $ / shares	$ 0.0067
Average Remaining Term (in Years)
Average Remaining Terms Outstanding, Ending	3 years 14 days
Average Remaining Terms, Exersiable	3 years 14 days

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Disclosure Income Taxes Details Abstract
Federal	$ (3,200)	$ (2,900)
State	(600)	(500)
Total Deferred	(3,800)	(3,400)
Increase in valuation allowance	3,800	3,400
Total expense (benefit) for income taxes

INCOME TAXES (Details 2)

INCOME TAXES (Details 2)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Disclosure Income Taxes Details 2Abstract
Income tax provision - federal rate	21%	21%
State income taxes, net of federal benefit	3.90%	3.90%
Change in valuation allowance	(24.90%)	(24.90%)
Effective income tax rate

INCOME TAXES (Details 3)

INCOME TAXES (Details 3) - USD ($)	Sep. 30, 2020	Sep. 30, 2019
Deferred tax assets:
Net operating losses	$ 283,000	$ 279,000
Total deferred tax asset	283,000	279,000
Valuation allowance	(283,000)	(279,000)
Deferred tax asset, net of allowance

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($)	Sep. 30, 2020	Sep. 30, 2019
Disclosure Income Taxes Details Narrative Abstract
Change in Valuation Allowance	$ 4,000	$ 3,000
Net operating loss carry forwards	$ 1,139,000	$ 1,124,000