Qiansui International (QIAN) 10-K 6 Jul 20 2019 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2019	Jul. 02, 2020	Jun. 30, 2019
Cover [Abstract]
Entity Registrant Name	ARIEL CLEAN ENERGY, INC.
Entity Central Index Key	0001499684
Document Type	10-K
Amendment Flag	false
Entity Voluntary Filers	Yes
Current Fiscal Year End Date	--12-31
Entity Well Known Seasoned Issuer	No
Entity Small Business	true
Entity Shell Company	true
Entity Emerging Growth Company	true
Entity Current Reporting Status	No
Document Period End Date	Dec. 31, 2019
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2019
Entity Ex Transition Period	false
Entity Common Stock Shares Outstanding		113,296,421
Entity Public Float			$ 197,654
Document Annual Report	true
Document Transition Report	false
Entity File Number	000-54159
Entity Incorporation State Country Code	DE
Entity Tax Identification Number	84-1209978
Entity Address Address Line 1	86 Broad St.,
Entity Address Address Line 2	19th Floor,
Entity Address City Or Town	New York
Entity Address State Or Province	NY
Entity Address Postal Zip Code	10004
City Area Code	347
Local Phone Number	690-5187
Security 12g Title	Common Stock, $0.000006 par value
Entity Interactive Data Current	Yes

Balance Sheets

Balance Sheets - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash	$ 0	$ 0
Total current assets	0	0
Total assets	0	0
Current liabilities:
Accounts payable and accrued liabilities	12,561	12,096
Accrued interest - related party	6,960	4,040
Note payable - related party	24,339	24,339
Total current liabilities	43,860	40,475
Total liabilities	43,860	40,475
Shareholders? deficit:
Preferred stock: 50,000,000 authorized; $0.000006 par value; no shares issued and outstanding	0	0
Additional paid-in capital	176,438	176,438
Accumulated deficit	(220,978)	(217,593)
Total shareholders? deficit	(43,860)	(40,475)
Total liabilities and shareholders' deficit	0	0
Common Stock Class A [Member]
Shareholders? deficit:
Common stock Class A: 1,000,000,000 authorized;$0.000006 par value; 113,296,421 shares issued and outstanding	680	680
Common Stock Class B [Member]
Shareholders? deficit:
Common stock Class A: 1,000,000,000 authorized;$0.000006 par value; 113,296,421 shares issued and outstanding	$ 0	$ 0

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Shareholders' deficit
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares par value	$ 0.000006	$ 0.000006
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common Stock Class A [Member]
Shareholders' deficit
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares par value	$ 0.000006	$ 0.000006
Common stock, shares issued	113,296,421	113,296,421
Common stock, shares outstanding	113,296,421	113,296,421
Common Stock Class B [Member]
Shareholders' deficit
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares par value	$ 0.000006	$ 0.000006
Common stock, shares issued	0	0
Common stock, shares outstanding	0	0

Statements of Operations

Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Operating expenses:
General and administrative		$ 3,404
Professional fees	$ 465	15,121
Total operating expenses	465	18,525
Loss from operations	(465)	(18,525)
Other expense:
Interest expense	2,920	2,799
Total other expense	(2,920)	(2,799)
Net loss	$ (3,385)	$ (21,324)
Basic and dilutive net loss per common share	$ 0	$ 0
Weighted average number of common shares outstanding - basic and diluted	113,296,421	113,296,421

Statements Of Shareholders Defi

Statements Of Shareholders Deficit (Unaudited) - USD ($)	Total	Preferred Stock	Common Stock	Additional Paid in Capital	Accumulated Deficit
Balance, shares at Dec. 31, 2017			113,296,421
Balance, amount at Dec. 31, 2017	$ (19,151)	$ 0	$ 680	$ 176,438	$ (196,269)
Net loss	(21,324)	0	$ 0	0	(21,324)
Balance, shares at Dec. 31, 2018			113,296,421
Balance, amount at Dec. 31, 2018	(40,475)	0	$ 680	176,438	(217,593)
Net loss	(3,385)	0	$ 0	0	(3,385)
Balance, shares at Dec. 31, 2019			113,296,421
Balance, amount at Dec. 31, 2019	$ (43,860)	$ 0	$ 680	$ 176,438	$ (220,978)

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net loss	$ (3,385)	$ (21,324)
Changes in operating assets and liabilities:
Prepaid expenses	0	3,333
Accounts payable and accrued expenses	465	10,828
Notes payable - related party	0	4,364
Accrued interest - related party	2,920	2,799
Net cash used in operating activities	0	0
Net change in cash	0	0
Cash at beginning of period	0	0
Cash at end of period	0	0
Supplemental cash flow information
Cash paid for interest	0	0
Cash paid for taxes	0	0
Non-cash financing transactions:
Note payable - related party	$ 0	$ 4,364

ORGANIZATION, DESCRIPTION OF BU

ORGANIZATION, DESCRIPTION OF BUSINESS, AND GOING CONCERN	12 Months Ended
	Dec. 31, 2019
ORGANIZATION, DESCRIPTION OF BUSINESS, AND GOING CONCERN
NOTE 1 - DESCRIPTION OF BUSINESS, AND GOING CONCERN	Ariel Clean Energy Inc. (“Ariel” or “the Company”) began its existence as the Pacific Development Corporation which was incorporated under the laws of the State of Colorado on September 21, 1992. On May 23, 2000, though a re-incorporation, the Company and Cheshire Holdings Inc. were merged into a single corporation existing under the laws of the State of Delaware.  The Company is currently seeking new business opportunities with established business entities for merger with or acquisition of a target business.  Going concern and Liquidity Considerations The Company’s financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern. This contemplates the realization of assets and the liquidation of liabilities in the normal course of business. Currently, the Company does not have material assets, nor does it have operations or a source of revenue sufficient to cover its operation costs and allow it to continue as a going concern. The Company has an accumulated deficit of $220,978. The Company will be dependent upon the raising of additional capital through placement of common stock in order to implement its business plan, or merge with an operating company. There can be no assurance that the Company will be successful in either situation in order to continue as a going concern. 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 in existence. Accordingly, these factors raise substantial doubt as to the Company’s ability to continue as a going concern. The officers and directors have committed to advancing certain operating costs of the Company, including compliance costs for being a public company.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2019
SIGNIFICANT ACCOUNTING POLICIES
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES	Basis of Presentation The financial statements and related disclosures have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The financial statements have been prepared using the accrual basis of accounting in accordance with Generally Accepted Accounting Principles (“GAAP”) of the United States. Use of Estimates and Assumptions The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and 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. Actual results could differ from those estimates. Fair Value of Financial Instruments As required by the Fair Value Measurements and Disclosures Topic of the Financial Accounting Standards Board Accounting Standards Codification (“FASB ASC”), fair value is measured based on a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: (Level 1) observable inputs such as quoted prices in active markets; (Level 2) inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and (Level 3) unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. The Company does not have any financial instruments subject to fair value measurements.  The Company’s financial instruments consist primarily of accounts payable and accrued expenses, and related party loans. The carrying amounts of such financial instruments approximate their respective estimated fair value due to the short-term maturities and interest rates that approximate market interest rates for similar instruments. Concentrations of Credit Risks The Company’s financial instruments are not exposed to concentrations of credit risk. Related Parties The Company follows ASC 850, “Related Party Disclosures,” for the identification of related parties and disclosure of related party transactions (see Note 5). Income Taxes The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, “Accounting for Income Taxes”. The asset and liability method provides that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities and for operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. As at December 31, 2019 and 2018, the Company did not have any amounts recorded pertaining to uncertain tax positions. (See Note 4) Basic and Diluted Net Loss per Share The Company computes loss per share in accordance with ASC 260, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period. During the years ended December 31, 2019 and 2018, the Company had no potential dilutive instruments and accordingly basic loss and diluted loss per share are the same. Recently Issued Accounting Pronouncements  Management has considered all recent accounting pronouncements issued. The Company’s management believes that these recent pronouncements will not have a material effect on the Company’s financial statements.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2019
STOCKHOLDERS' EQUITY
NOTE 4 - STOCKHOLDERS' EQUITY	The capitalization of the Company consists of the following classes of capital stock: Preferred Stock  The authorized preferred stock consists of 50,000,000 shares with a per share par value of $0.000006. Any series of new preferred stock may be designated, fixed, and determined as provided by the board of directors by the affirmative vote of a majority of the voting power of all the then outstanding shares of Class B Common Stock.  No preferred stock was issued or outstanding as at December 31, 2019 and 2018.    Common Stock  Class A  The authorized common stock consists of 1,000,000,000 shares of Class A Common Stock at a par value of $0.000006 per share. Each share of Class A common stock is entitled to one vote. The number of authorized shares of Class A common stock may be increased or decreased (but not below the number of shares outstanding) by the affirmative vote of the holders of capital stock representing a majority of the voting power of the outstanding shares of capital stock of the company entitled to vote.  There were 113,296,421 shares of Class A common stock issued and outstanding at December 31, 2019 and 2018, respectively. Class B The authorized common stock consists of 200,000,000 shares of Class B Common Stock, $0.000006 par value per share. Each share of Class B of Common Stock is entitled to 10 votes. The number of authorized shares of Class B common stock may be increased or decreased (but not below the number of shares outstanding) by the affirmative vote of the holders of capital stock representing a majority of the voting power of the outstanding shares of capital stock of the company entitled to vote. There was no Class B Common Stock issued or outstanding as at December 31, 2019 and 2018.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2019
INCOME TAXES
NOTE 5 - INCOME TAXES	The Company did not provide any current or deferred U.S. federal income tax provision or benefit for any of the periods presented because it has experienced operating losses since inception. Accounting for Uncertainty in Income Taxes when it is more likely than not that a tax asset cannot be realized through future income the Company must allow for this future tax benefit.    Year Ended   December 31,  December 31,   2019  2018 Net loss for the year $(3,385) $(21,324)Effective Tax rate  21%  21%Tax Recovery  (711)  (4,478)Increase in Valuation Allowance  711   4,478 Net tax recovery  $-  $-  We provided a full valuation allowance on the net deferred tax asset, consisting of net operating loss carry forwards, because management has determined that it is more likely than not that we will not earn income sufficient to realize the deferred tax assets during the carry forward period.   The components of the Company’s deferred tax asset and reconciliation of income taxes computed at the statutory rate to the income tax amount recorded as of December 31, 2019 and 2018 is as follows:    Year Ended   December 31,2019  December 31,2018 Net operating loss carryforward $46,405  $45,694 Less: Valuation Allowance  (46,405)  (45,694)Net deferred asset $-  $-  The Company has not filed tax returns from inception to December 31, 2019. All tax years are subject to examination by the tax authority. At December 31, 2019, the Company has estimated that $221,000 in net operating losses (“NOLs”), on completion of the Company’s tax filings, would be available to offset future taxable income, which would expire between 2032 and 2037. NOLs generated in tax years prior to December 31, 2017, can be carryforward for twenty years, whereas NOLs generated after December 31, 2017 can be carryforward indefinitely in accordance with Section 382 of the U.S. Internal Revenue Code, the usage of the Company’s net operating loss carry forwards are subject to annual limitations following greater than 50% ownership changes.

RELATED-PARTY TRANSACTIONS

RELATED-PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2019
RELATED-PARTY TRANSACTIONS
NOTE 6 - RELATED-PARTY TRANSACTIONS	Note Payable During the years ended December 31, 2019 and 2018, a corporation controlled by the Company’s officer paid operating expenses totaling $0 and $4,364, respectively on behalf of the Company. Unpaid balances are due on demand and accrue an annual interest rate of 12%. Note payable and accrued interest at December 31, 2019 and 2018 consist of the following:   December 31,  December 31,   2019  2018 Note payable $24,339  $24,339 Accrued interest $6,960  $4,040  For the years ended December 31, 2019 and 2018, interest expense was $2,920 and $2,799, respectively.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2019
SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation	The financial statements and related disclosures have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The financial statements have been prepared using the accrual basis of accounting in accordance with Generally Accepted Accounting Principles (“GAAP”) of the United States.
Use of Estimates and Assumptions	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and 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. Actual results could differ from those estimates.
Fair Value of Financial Instruments	As required by the Fair Value Measurements and Disclosures Topic of the Financial Accounting Standards Board Accounting Standards Codification (“FASB ASC”), fair value is measured based on a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: (Level 1) observable inputs such as quoted prices in active markets; (Level 2) inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and (Level 3) unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. The Company does not have any financial instruments subject to fair value measurements.  The Company’s financial instruments consist primarily of accounts payable and accrued expenses, and related party loans. The carrying amounts of such financial instruments approximate their respective estimated fair value due to the short-term maturities and interest rates that approximate market interest rates for similar instruments.
Concentrations of Credit Risks	The Company’s financial instruments are not exposed to concentrations of credit risk.
Related Parties	The Company follows ASC 850, “Related Party Disclosures,” for the identification of related parties and disclosure of related party transactions (see Note 5).
Income Taxes	The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, “Accounting for Income Taxes”. The asset and liability method provides that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities and for operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. As at December 31, 2019 and 2018, the Company did not have any amounts recorded pertaining to uncertain tax positions. (See Note 4)
Basic and Diluted Net Loss per Share	The Company computes loss per share in accordance with ASC 260, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period. During the years ended December 31, 2019 and 2018, the Company had no potential dilutive instruments and accordingly basic loss and diluted loss per share are the same.
Recently Issued Accounting Pronouncements	Management has considered all recent accounting pronouncements issued. The Company’s management believes that these recent pronouncements will not have a material effect on the Company’s financial statements.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2019
INCOME TAXES
Schedule of income taxes	Year Ended       December 31,     December 31,       2019     2018   Net loss for the year   $ (3,385 )   $ (21,324 ) Effective Tax rate     21 %     21 % Tax Recovery     (711 )     (4,478 ) Increase in Valuation Allowance     711       4,478   Net tax recovery   $ -     $ -
Schedule of deferred tax asset and reconciliation of income taxes	Year Ended       December 31,2019     December 31,2018   Net operating loss carryforward   $ 46,405     $ 45,694   Less: Valuation Allowance     (46,405 )     (45,694 ) Net deferred asset   $ -     $ -

RELATED-PARTY TRANSACTIONS (Tab

RELATED-PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2019
RELATED-PARTY TRANSACTIONS
Schedule of Note Payable and Accrued Interest	December 31,     December 31,       2019     2018   Note payable   $ 24,339     $ 24,339   Accrued interest   $ 6,960     $ 4,040

ORGANIZATION, DESCRIPTION OF _2

ORGANIZATION, DESCRIPTION OF BUSINESS, AND GOING CONCERN (Details Narrative) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Accumulated deficit	$ (220,978)	$ (217,593)
Retained Earning (Accumulated Deficit) [Member]
Accumulated deficit	$ 220,978

STOCKHOLDERS' EQUITY (Details N

STOCKHOLDERS' EQUITY (Details Narrative) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares par value	$ 0.000006	$ 0.000006
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common Stock Class A [Member]
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares par value	$ 0.000006	$ 0.000006
Common stock, shares issued	113,296,421	113,296,421
Common stock, shares outstanding	113,296,421	113,296,421
Common stock, voting rights	one vote
Common Stock Class B [Member]
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares par value	$ 0.000006	$ 0.000006
Common stock, shares issued	0	0
Common stock, shares outstanding	0	0
Common stock, voting rights	10 votes

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
INCOME TAXES (Details)
Net loss for the year	$ (3,385)	$ (21,324)
Effective Tax rate	2100.00%	2100.00%
Tax Recovery	$ (711)	$ (4,478)
Increase in Valuation Allowance	711	4,478
Net tax recovery	$ 0	$ 0

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
INCOME TAXES (Details)
Net operating loss carryforward	$ 46,405	$ 45,694
Less: Valuation Allowance	(46,405)	(45,694)
Net deferred asset	$ 0	$ 0

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative)	12 Months Ended
	Dec. 31, 2019USD ($)
INCOME TAXES (Details)
Net operating loss	$ 221,000
Operating loss carryforwards expiration year	expire between 2032 and 2037
Threshold limit percentage of OLC	greater than 50% ownership changes
Operating loss carrying forward period	twenty years

RELATED-PARTY TRANSACTIONS (Det

RELATED-PARTY TRANSACTIONS (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
RELATED-PARTY TRANSACTIONS
Notes payable	$ 24,339	$ 24,339
Accrued interest	$ 6,960	$ 4,040

RELATED-PARTY TRANSACTIONS (D_2

RELATED-PARTY TRANSACTIONS (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Officers paid operating expenses	$ 0	$ 4,364
Interest expense	(2,920)	(2,799)
Related Party Transaction [Member]
Officers paid operating expenses	0	4,364
Interest expense	$ 2,920	$ 2,799
Annual interest rate	1200.00%