Sustainable Projects (SPGX) 10-Q 17 Oct 16 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Aug. 31, 2016	Oct. 17, 2016
Document And Entity Information
Entity Registrant Name	Blue Spa Inc
Entity Central Index Key	1,500,305
Document Type	10-Q
Document Period End Date	Aug. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--05-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		7,000,000
Document Fiscal Period Focus	Q1
Trading Symbol	BUES
Document Fiscal Year Focus	2,017

Balance Sheets (Unaudited)

Balance Sheets (Unaudited) - USD ($)	Aug. 31, 2016	May 31, 2016
Current Assets:
Cash and cash equivalents	$ 21,933
Prepaid expenses
TOTAL ASSETS	21,933	0
Current Liabilities:
Accounts payable and accrued liabilities - Note 5	28,287	15,871
Amount due to a shareholder	8,001	8,001
Notes payable - Note 7	180,000	154,000
Interest payable	37,474	34,225
TOTAL LIABILITIES	253,762	212,097
STOCKHOLDERS' DEFICIT
Common Stock - Note 6 Par Value:$0.0001 Authorized 500,000,000 shares Common Stock Issued 7,000,000	700	700
Additional Paid in Capital	16,300	16,300
Deficit Accumulated during the development stage	(248,829)	(229,097)
TOTAL STOCKHOLDERS' DEFICIT	(231,829)	(212,097)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 21,933	$ 0

Balance Sheets (Unaudited) (Par

Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Aug. 31, 2016	May 31, 2016
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	7,000,000	7,000,000

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Aug. 31, 2016	Aug. 31, 2015
Income Statement [Abstract]
Administrative and other operating expenses	$ 16,483	$ 2,809
Formation cost
Operating loss before interest expenses	(16,483)	(2,809)
Interest expenses	(3,249)	(2,702)
Operating loss before income taxes	(19,732)	(5,511)
Income Taxes
Net loss and comprehensive loss	$ (19,732)	$ (5,511)
Loss per share of common stock - Basic and diluted	$ (0.003)	$ (0.001)
Weighted average shares of common stock - Basic and diluted	7,000,000	7,000,000

Statements of Stockholders' Def

Statements of Stockholders' Deficit and Comprehensive Income - USD ($)	Common Shares [Member]	Additional Paid-In Capital [Member]	Deficit Accumulated During the Development Stage [Member]	Total
Balance at May. 31, 2014	$ 700	$ 16,300	$ (153,479)	$ (136,479)
Balance, shares at May. 31, 2014	7,000,000
Net loss and comprehensive loss			(33,377)	(33,377)
Balance at May. 31, 2015	$ 700	16,300	(186,856)	(169,856)
Balance, shares at May. 31, 2015	7,000,000
Net loss and comprehensive loss			(42,241)	(42,241)
Balance at May. 31, 2016	$ 700	16,300	(229,097)	(212,097)
Balance, shares at May. 31, 2016	7,000,000
Net loss and comprehensive loss			(19,732)	(19,732)
Balance at Aug. 31, 2016	$ 700	$ 16,300	$ (248,829)	$ (231,829)
Balance, shares at Aug. 31, 2016	7,000,000

Statements of Cash Flows

Statements of Cash Flows - USD ($)	3 Months Ended
	Aug. 31, 2016	Aug. 31, 2015
Cash Flows from operating activities:
Net loss	$ (19,732)	$ (5,511)
Changes in current assets and liabilities
Prepaid Expenses
Accounts payable and accrued expenses	12,416	(725)
Amount due to a shareholder
Interest payable	3,249	2,702
Net cash used in operating activities	(4,067)	(3,534)
Cash Flows from financing activities:
Proceeds from issuance of common stock
Notes payable	26,000
Net Cash generated from financing activities	26,000
Net increase in cash and cash equivalents	21,933	(3,534)
Cash and cash equivalents at beginning of period		3,922
Cash and cash equivalents at end of period	$ 21,933	$ 388

Organization and Nature of Oper

Organization and Nature of Operations	3 Months Ended
	Aug. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Operations	1. Organization and Nature of Operations Blue Spa Incorporated (“the Company”) was incorporated in the State of Nevada, USA on September 4, 2009. The Company is in its early developmental stage since its formation and has not realized any revenues from its planned operations. The Company was engaged in the development of an internet based retailer of a multi-channel concept combining a wholesale distribution with a retail strategy relating to the quality personal care products, fitness apparel and related accessories. The Company obtained a majority vote from its shareholders to amend the Company’s name from “Blue Spa Incorporated” to “Sustainable Petroleum Group Inc.” to better reflect the new direction it plans to undertake in the oil and gas business. The name change will be effected on or around October 20, 2016 or as soon as practicable, pending regulatory approval. The Company has chosen a fiscal year end May 31.

Going Concern

Going Concern	3 Months Ended
	Aug. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern	2. Going Concern These interim financial statements have been prepared in conformity with generally accepted accounting principles in the United States, which contemplate continuation of the Company as a going concern. However, the Company has limited operations and has sustained operating losses resulting in a deficit. In view of these matters, realization of a major portion of the assets in the accompanying balance sheet is dependent upon the continued operations of the Company, which in turn is dependent upon the Company’s ability to meet its financing requirements, and the success of its future operations. The Company has accumulated a deficit of $248,829 since inception September 4, 2009, has yet to achieve profitable operations and further losses are anticipated in the development of its business. The Company’s ability to continue as a going concern is in substantial doubt and is dependent upon obtaining additional financing and/or achieving a sustainable profitable level of operations. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. The Company believes that the cash on hand will be able to meet its on-going costs in the next 12 months. The Company may seek additional equity as necessary and it expects to raise funds through private or public equity investment in order to support existing operations and expand the range of its business. There is no assurance that such additional funds will be available for the Company on acceptable terms, if at all.

Interim Reporting and Significa

Interim Reporting and Significant Accounting Policies	3 Months Ended
	Aug. 31, 2016
Accounting Policies [Abstract]
Interim Reporting and Significant Accounting Policies	3. Interim reporting and significant accounting policies While the information presented is unaudited, it includes all adjustments, which are, in the opinion of management, necessary to present fairly the financial position, result of operation and cash flows for the interim periods presented in accordance with accounting principles generally accepted in the United States of America. All adjustments are of a normal recurring nature. It is suggested that the interim condensed financial statements be read in conjunction with the Company’s May 31, 2016 annual financial statements. Operating results for the three month period ended August 31, 2016 are not necessarily indicative of the results that can be expected for the year ended May 31, 2017. There have been no changes in the accounting policies from those disclosed in the notes to the audited financial statements for the year ended May 31, 2016.

Recently issued accounting pron

Recently issued accounting pronouncements	3 Months Ended
	Aug. 31, 2016
Accounting Changes and Error Corrections [Abstract]
Recently Issued Accounting Pronouncements	4. Recently issued accounting pronouncements The Company adopts new pronouncements relating to generally accepted accounting principles applicable to the Company as they are issued, which may be in advance of their effective date. Management does not believe that any pronouncement not yet effective but recently issued would, if adopted, have a material effect on the accompanying financial statements

Accrued Expenses

Accrued Expenses	3 Months Ended
	Aug. 31, 2016
Payables and Accruals [Abstract]
Accrued Expenses	5. Accrued expenses Accrued expenses as of August 31, 2016 are summarized as follows: August 31, 2016 May 31, 2016 Accrued audit fee $ 11,000 $ 11,000 Accrued accounting fee 1,575 1,575 Accrued legal fee 15,500 - Accrued office expenses 212 3,296 Total $ 28,287 $ 15,871

Common Stock

Common Stock	3 Months Ended
	Aug. 31, 2016
Equity [Abstract]
Common Stock	6. Common stock During the period ended August 31, 2016, no shares of common stock were sold. There were a total of 7,000,000 common stocks issued and outstanding as of August 31, 2016. There were no warrants or stock options outstanding as of August 31, 2016.

Notes Payable, Due to Sharehold

Notes Payable, Due to Shareholders	3 Months Ended
	Aug. 31, 2016
Debt Disclosure [Abstract]
Notes Payable, Due to Shareholders	7. Notes payable, due to Shareholders There are seven (7) unsecured promissory notes bearing interest at 8% per annum which are due on demand. Date Principal Interest Total October 6, 2010 $ 3,000 $ 1,418 $ 4,418 February 22, 2011 1,500 663 2,163 May 17, 2011 7,500 3,178 10,678 September 16, 2011 5,000 1,985 6,985 November 4, 2011 5,000 1,930 6,930 March 15, 2012 10,000 3,573 13,573 December 14,2012 13,000 3,696 16,696 Total $ 45,000 $ 16,443 $ 61,443 There are two (2) unsecure promissory notes bearing interest at 4% per annum which are due on demand. Date Principal Interest Total July 4, 2016 $ 1,000 $ 6 $ 1,006 July 12, 2016 25,000 137 25,137 Total $ 26,000 $ 143 $ 26,143 There are six (6) unsecured promissory notes bearing interest at 8% per annum which are due on demand, and convertible at a conversion price of US$0.005 per share at the lender’s option. The convertible notes are at the same interest rate as promissory notes that have no conversion feature. Date Principal Interest Total April 2, 2013 $ 14,000 $ 3,826 $ 17,826 September 4, 2013 30,000 7,180 37,180 October 15, 2013 15,000 3,455 18,455 January 8, 2014 10,000 2,117 12,117 December 3, 2014 20,000 2,797 22,797 September 22, 2015 20,000 1,512 21,512 Total $ 109,000 $ 20,887 $ 129,887

Subsequent Events

Subsequent Events	3 Months Ended
	Aug. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	8. Subsequent Events On September 15, 2016, the Company entered into a notes payable with a shareholder of the Company in the amount of $20,000. The note bears an interest rate of 4% per annum and is due on demand. Subsequent to August 31, 2016, the Company obtained a majority vote from its shareholders to amend the Company’s name from “Blue Spa Incorporated” to “Sustainable Petroleum Group Inc.” The name change will be effected on or around October 20, 2016 or as soon as practicable, pending regulatory approval.

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Aug. 31, 2016
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses as of August 31, 2016 are summarized as follows: August 31, 2016 May 31, 2016 Accrued audit fee $ 11,000 $ 11,000 Accrued accounting fee 1,575 1,575 Accrued legal fee 15,500 - Accrued office expenses 212 3,296 Total $ 28,287 $ 15,871

Notes Payable, Due to Shareho16

Notes Payable, Due to Shareholders (Tables)	3 Months Ended
	Aug. 31, 2016
Debt Disclosure [Abstract]
Schedule of Notes Payable	There are seven (7) unsecured promissory notes bearing interest at 8% per annum which are due on demand. Date Principal Interest Total October 6, 2010 $ 3,000 $ 1,418 $ 4,418 February 22, 2011 1,500 663 2,163 May 17, 2011 7,500 3,178 10,678 September 16, 2011 5,000 1,985 6,985 November 4, 2011 5,000 1,930 6,930 March 15, 2012 10,000 3,573 13,573 December 14,2012 13,000 3,696 16,696 Total $ 45,000 $ 16,443 $ 61,443 There are two (2) unsecure promissory notes bearing interest at 4% per annum which are due on demand. Date Principal Interest Total July 4, 2016 $ 1,000 $ 6 $ 1,006 July 12, 2016 25,000 137 25,137 Total $ 26,000 $ 143 $ 26,143 There are six (6) unsecured promissory notes bearing interest at 8% per annum which are due on demand, and convertible at a conversion price of US$0.005 per share at the lender’s option. The convertible notes are at the same interest rate as promissory notes that have no conversion feature. Date Principal Interest Total April 2, 2013 $ 14,000 $ 3,826 $ 17,826 September 4, 2013 30,000 7,180 37,180 October 15, 2013 15,000 3,455 18,455 January 8, 2014 10,000 2,117 12,117 December 3, 2014 20,000 2,797 22,797 September 22, 2015 20,000 1,512 21,512 Total $ 109,000 $ 20,887 $ 129,887

Going Concern (Details Narrativ

Going Concern (Details Narrative) - USD ($)	Aug. 31, 2016	May 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 248,829	$ 229,097

Accrued Expenses - Schedule of

Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($)	Aug. 31, 2016	May 31, 2016
Payables and Accruals [Abstract]
Accrued audit fee	$ 11,000	$ 11,000
Accrued accounting fee	1,575	1,575
Accrued legal fee	15,500
Accrued office expenses	212	3,296
Total	$ 28,287	$ 15,871

Common Stock (Details Narrative

Common Stock (Details Narrative) - shares	3 Months Ended
	Aug. 31, 2016	May 31, 2016
Equity [Abstract]
Number of common stock shares sold during period
Common stock, shares issued	7,000,000	7,000,000
Common stock, shares outstanding	7,000,000
Number of warrants outstanding
Number of outstanding stock options

Notes Payable, Due to Shareho20

Notes Payable, Due to Shareholders (Details Narrative)	3 Months Ended
	Aug. 31, 2016Integer$ / shares
Unsecured Promissory Note 1 [Member]
Number of unsecured promissory notes	7
Promissory notes interest rate	8.00%
Unsecured Promissory Note 2 [Member]
Number of unsecured promissory notes	2
Promissory notes interest rate	4.00%
Unsecured Promissory Note 3 [Member]
Number of unsecured promissory notes	6
Promissory notes interest rate	8.00%
Debt instrument, conversion price per share | $ / shares	$ 0.005

Notes Payable, Due to Shareho21

Notes Payable, Due to Shareholders - Schedule of Notes Payable (Details)	3 Months Ended
	Aug. 31, 2016USD ($)
Unsecured Notes One [Member]
Notes payable, Principal	$ 45,000
Notes payable, Interest	16,443
Notes payable, Total	$ 61,443
Unsecured Notes One [Member] | October 6, 2010 [Member]
Date	Oct. 6, 2010
Notes payable, Principal	$ 3,000
Notes payable, Interest	1,418
Notes payable, Total	$ 4,418
Unsecured Notes One [Member] | February 22, 2011 [Member]
Date	Feb. 22, 2011
Notes payable, Principal	$ 1,500
Notes payable, Interest	663
Notes payable, Total	$ 2,163
Unsecured Notes One [Member] | May 17, 2011 [Member]
Date	May 17, 2011
Notes payable, Principal	$ 7,500
Notes payable, Interest	3,178
Notes payable, Total	$ 10,678
Unsecured Notes One [Member] | September 16, 2011 [Member]
Date	Sep. 16, 2011
Notes payable, Principal	$ 5,000
Notes payable, Interest	1,985
Notes payable, Total	$ 6,985
Unsecured Notes One [Member] | November 4, 2011 [Member]
Date	Nov. 4, 2011
Notes payable, Principal	$ 5,000
Notes payable, Interest	1,930
Notes payable, Total	$ 6,930
Unsecured Notes One [Member] | March 15, 2012 [Member]
Date	Mar. 15, 2012
Notes payable, Principal	$ 10,000
Notes payable, Interest	3,573
Notes payable, Total	$ 13,573
Unsecured Notes One [Member] | December 14, 2012 [Member]
Date	Dec. 14, 2012
Notes payable, Principal	$ 13,000
Notes payable, Interest	3,696
Notes payable, Total	16,696
Unsecured Notes Two [Member]
Notes payable, Principal	26,000
Notes payable, Interest	143
Notes payable, Total	$ 26,143
Unsecured Notes Two [Member] | July 4, 2016 [Member]
Date	Jul. 4, 2016
Notes payable, Principal	$ 1,000
Notes payable, Interest	6
Notes payable, Total	$ 1,006
Unsecured Notes Two [Member] | July 12, 2016 [Member]
Date	Jul. 12, 2016
Notes payable, Principal	$ 25,000
Notes payable, Interest	137
Notes payable, Total	25,137
Unsecured Notes Three [Member]
Notes payable, Principal	109,000
Notes payable, Interest	20,887
Notes payable, Total	$ 129,887
Unsecured Notes Three [Member] | April 2, 2013 [Member]
Date	Apr. 2, 2013
Notes payable, Principal	$ 14,000
Notes payable, Interest	3,826
Notes payable, Total	$ 17,826
Unsecured Notes Three [Member] | September 4, 2013 [Member
Date	Sep. 4, 2013
Notes payable, Principal	$ 30,000
Notes payable, Interest	7,180
Notes payable, Total	$ 37,180
Unsecured Notes Three [Member] | October 15, 2013 [Member
Date	Oct. 15, 2013
Notes payable, Principal	$ 15,000
Notes payable, Interest	3,455
Notes payable, Total	$ 18,455
Unsecured Notes Three [Member] | January 8, 2014 [Member]
Date	Jan. 8, 2014
Notes payable, Principal	$ 10,000
Notes payable, Interest	2,117
Notes payable, Total	$ 12,117
Unsecured Notes Three [Member] | December 3, 2014 [Member]
Date	Dec. 3, 2014
Notes payable, Principal	$ 20,000
Notes payable, Interest	2,797
Notes payable, Total	$ 22,797
Unsecured Notes Three [Member] | September 22, 2015 [Member]
Date	Sep. 22, 2015
Notes payable, Principal	$ 20,000
Notes payable, Interest	1,512
Notes payable, Total	$ 21,512

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - Shareholder [Member] - Subsequent Event [Member]	Sep. 15, 2016USD ($)
Note payable to related party	$ 20,000
Debt interest rate	4.00%