Cover
Cover - shares | 9 Months Ended | |
Oct. 31, 2021 | Dec. 02, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Oct. 31, 2021 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2022 | |
Current Fiscal Year End Date | --01-31 | |
Entity File Number | 000-54301 | |
Entity Registrant Name | ODENZA CORP. | |
Entity Central Index Key | 0001489300 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 22/F., Wanchai Central Building, | |
Entity Address, Address Line Two | 89 Lockhart Road, | |
Entity Address, City or Town | Wan Chai, | |
Entity Address, Country | HK | |
City Area Code | 852 | |
Local Phone Number | 9027 2707 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | true | |
Entity Common Stock, Shares Outstanding | 3,660,000 |
Condensed Balance Sheets
Condensed Balance Sheets - USD ($) | Oct. 31, 2021 | Jan. 31, 2021 |
Current asset | ||
Total assets | ||
Current liabilities | ||
Accrued liabilities | 9,263 | 49,060 |
Due to related party-former CEO | 212,249 | |
Total liabilities | 9,263 | 261,309 |
STOCKHOLDERS’ DEFICIT | ||
Common stock, $0.001 par value, 500,000,000 shares authorized 3,660,000 shares issued and outstanding, respectively | 3,660 | 3,660 |
Additional paid in capital | 294,733 | 27,840 |
Accumulated deficit | (307,656) | (292,809) |
Total stockholders’ deficit | (9,263) | (261,309) |
Total liabilities and stockholders’ deficit |
Condensed Balance Sheets (Paren
Condensed Balance Sheets (Parenthetical) - $ / shares | Oct. 31, 2021 | Jan. 31, 2021 |
Statement of Financial Position [Abstract] | ||
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 500,000,000 | 500,000,000 |
Common stock, shares issued | 3,660,000 | 3,660,000 |
Common stock, shares outstanding | 3,660,000 | 3,660,000 |
Condensed Statements of Operati
Condensed Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2021 | Oct. 31, 2020 | Oct. 31, 2021 | Oct. 31, 2020 | |
Income Statement [Abstract] | ||||
Revenues | ||||
Operating expenses | ||||
General and administrative | (12,108) | (1,172) | (14,847) | (3,516) |
Net loss | $ (12,108) | $ (1,172) | $ (14,847) | $ (3,516) |
Basic and diluted net loss per share | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted average number of shares outstanding | 3,660,000 | 3,660,000 | 3,660,000 | 3,660,000 |
Condensed Statements of Stockho
Condensed Statements of Stockholders' Deficit - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Jan. 31, 2020 | $ 3,660 | $ 27,840 | $ (258,121) | $ (226,621) |
Beginning balance, shares at Jan. 31, 2020 | 3,660,000 | |||
Net loss | (3,516) | (3,516) | ||
Ending balance, value at Oct. 31, 2020 | $ 3,660 | 27,840 | (261,637) | (230,137) |
Ending balance, shares at Oct. 31, 2020 | 3,660,000 | |||
Beginning balance, value at Jul. 31, 2020 | $ 3,660 | 27,840 | (260,465) | (228,965) |
Beginning balance, shares at Jul. 31, 2020 | 3,660,000 | |||
Net loss | (1,172) | (1,172) | ||
Ending balance, value at Oct. 31, 2020 | $ 3,660 | 27,840 | (261,637) | (230,137) |
Ending balance, shares at Oct. 31, 2020 | 3,660,000 | |||
Beginning balance, value at Jan. 31, 2021 | $ 3,660 | 27,840 | (292,809) | (261,309) |
Beginning balance, shares at Jan. 31, 2021 | 3,660,000 | |||
Capital contribution due to write-off of related party payable due to former CEO | 212,249 | 212,249 | ||
Capital contribution from officer/principal shareholder | 54,644 | 54,644 | ||
Net loss | (14,847) | (14,847) | ||
Ending balance, value at Oct. 31, 2021 | $ 3,660 | 294,733 | (307,656) | (9,263) |
Ending balance, shares at Oct. 31, 2021 | 3,660,000 | |||
Beginning balance, value at Jul. 31, 2021 | $ 3,660 | 240,089 | (295,548) | (51,799) |
Beginning balance, shares at Jul. 31, 2021 | 3,660,000 | |||
Capital contribution from officer/principal shareholder | 54,644 | 54,644 | ||
Net loss | (12,108) | (12,108) | ||
Ending balance, value at Oct. 31, 2021 | $ 3,660 | $ 294,733 | $ (307,656) | $ (9,263) |
Ending balance, shares at Oct. 31, 2021 | 3,660,000 |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2021 | Oct. 31, 2020 | Oct. 31, 2021 | Oct. 31, 2020 | |
Cash Flows From Operating Activities | ||||
Net loss | $ (12,108) | $ (1,172) | $ (14,847) | $ (3,516) |
Change in operating liabilities: | ||||
Accrued liabilities | (39,797) | 3,516 | ||
Net cash used in operations | (54,644) | |||
Cash Flows From Financing Activities | ||||
Capital contribution from officer/principal shareholder | 54,644 | |||
Net cash provided by financing activities | 54,644 | |||
Increase in cash | ||||
Cash, beginning of period | ||||
Cash, ending of period | ||||
Cash paid for: | ||||
Interest | ||||
Income taxes |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 9 Months Ended |
Oct. 31, 2021 | |
Accounting Policies [Abstract] | |
BASIS OF PRESENTATION | ITEM 1. BASIS OF PRESENTATION Unaudited Interim Financial Statements The accompanying condensed consolidated financial statements are unaudited. These unaudited interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and footnotes normally included by U.S. GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. These unaudited interim financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2021, as filed with the SEC. In the opinion of management, all adjustments considered necessary for fair presentation and consisting solely of normal recurring adjustments have been made. The results of operations for the three and nine months ended October 31, 2021 are not necessarily indicative of the results that may be expected for the year ending January 31, 2022. COVID-19 The COVID-19 pandemic has negatively impacted the global economy, workforces, customers, and created significant volatility and disruption of financial markets. The Company monitors guidance from national and local public health authorities and has implemented health and safety precautions and protocols in response to these guidelines. The extent of the impact of the COVID-19 pandemic has had and will continue to have on the Company’s business is highly uncertain and difficult to predict and quantify at this time. Going Concern The accompanying condensed financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying condensed financial statements, for the nine months ended October 31, 2021, the Company incurred a net loss of $ 14,847 , and at October 31, 2021, had a shareholder’s deficit of $ 9,263 Management has plans to seek additional capital through a private placement of its Common Stock or further director loans as needed. These financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event the Company cannot continue. Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include estimates for the accruals of potential liabilities. Net loss per share Basic loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding during the period. Diluted loss per share is computed similar to basic loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common stock equivalents had been issued and if the additional common shares were dilutive. At October 31, 2021 and 2020, the Company had no Recent Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Credit Losses - Measurement of Credit Losses on Financial Instruments (“ASC 326”). The standard significantly changes how entities will measure credit losses for most financial assets, including accounts and notes receivables. The standard will replace today’s “incurred loss” approach with an “expected loss” model, under which companies will recognize allowances based on expected rather than incurred losses. Entities will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The standard is effective for interim and annual reporting periods beginning after December 15, 2022. The adoption of ASU 2016-13 is not expected to have a material impact on the Company’s financial position, results of operations, and cash flows. Other recent accounting pronouncements issued by the FASB, its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company’s present or future financial statements. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 9 Months Ended |
Oct. 31, 2021 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | 2. RELATED PARTY TRANSACTIONS During the nine months ended October 31, 2021, the Company’s Chief Executive Officer and principal shareholder, Mr. Leung Chi Ping (appointed on May 4, 2021) advanced $ 54,644 During the nine months ended October 31, 2021, the Company’s former Chief Executive Officer, Tan Sri Barry Goh Ming Choon (resigned on May 4, 2021) agreed to forgive and waive $ 212,249 due to him from the Company. The waived amount of $ 212,249 was recorded as a deemed capital contribution to the Company. |
BASIS OF PRESENTATION (Policies
BASIS OF PRESENTATION (Policies) | 9 Months Ended |
Oct. 31, 2021 | |
Accounting Policies [Abstract] | |
Unaudited Interim Financial Statements | Unaudited Interim Financial Statements The accompanying condensed consolidated financial statements are unaudited. These unaudited interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and footnotes normally included by U.S. GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. These unaudited interim financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2021, as filed with the SEC. In the opinion of management, all adjustments considered necessary for fair presentation and consisting solely of normal recurring adjustments have been made. The results of operations for the three and nine months ended October 31, 2021 are not necessarily indicative of the results that may be expected for the year ending January 31, 2022. |
COVID-19 | COVID-19 The COVID-19 pandemic has negatively impacted the global economy, workforces, customers, and created significant volatility and disruption of financial markets. The Company monitors guidance from national and local public health authorities and has implemented health and safety precautions and protocols in response to these guidelines. The extent of the impact of the COVID-19 pandemic has had and will continue to have on the Company’s business is highly uncertain and difficult to predict and quantify at this time. |
Going Concern | Going Concern The accompanying condensed financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying condensed financial statements, for the nine months ended October 31, 2021, the Company incurred a net loss of $ 14,847 , and at October 31, 2021, had a shareholder’s deficit of $ 9,263 Management has plans to seek additional capital through a private placement of its Common Stock or further director loans as needed. These financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event the Company cannot continue. |
Use of estimates | Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include estimates for the accruals of potential liabilities. |
Net loss per share | Net loss per share Basic loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding during the period. Diluted loss per share is computed similar to basic loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common stock equivalents had been issued and if the additional common shares were dilutive. At October 31, 2021 and 2020, the Company had no |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Credit Losses - Measurement of Credit Losses on Financial Instruments (“ASC 326”). The standard significantly changes how entities will measure credit losses for most financial assets, including accounts and notes receivables. The standard will replace today’s “incurred loss” approach with an “expected loss” model, under which companies will recognize allowances based on expected rather than incurred losses. Entities will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The standard is effective for interim and annual reporting periods beginning after December 15, 2022. The adoption of ASU 2016-13 is not expected to have a material impact on the Company’s financial position, results of operations, and cash flows. Other recent accounting pronouncements issued by the FASB, its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company’s present or future financial statements. |
BASIS OF PRESENTATION (Details
BASIS OF PRESENTATION (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | ||||||
Oct. 31, 2021 | Oct. 31, 2020 | Oct. 31, 2021 | Oct. 31, 2020 | Jul. 31, 2021 | Jan. 31, 2021 | Jul. 31, 2020 | Jan. 31, 2020 | |
Accounting Policies [Abstract] | ||||||||
Net Income (Loss) Attributable to Parent | $ 12,108 | $ 1,172 | $ 14,847 | $ 3,516 | ||||
Stockholders equity deficit | $ 9,263 | $ 230,137 | $ 9,263 | $ 230,137 | $ 51,799 | $ 261,309 | $ 228,965 | $ 226,621 |
Outstanding common stock equivalents | 0 | 0 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 9 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | |
Related Party Transaction [Line Items] | ||
Capital contribution from officer/principal shareholder | $ 54,644 | |
Mr. Leung Chi Ping [Member] | ||
Related Party Transaction [Line Items] | ||
Capital contribution from officer/principal shareholder | 54,644 | |
Former Chief Executive Officer [Member] | Tan Sri Barry Goh Ming Choon [Member] | ||
Related Party Transaction [Line Items] | ||
Debt instrument decrease forgiveness and waive amount | 212,249 | |
Contribution to deemed capital | $ 212,249 |