Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Jun. 30, 2018 | Jul. 16, 2018 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | Inspired Builders, Inc. | |
Entity Central Index Key | 1,509,786 | |
Trading Symbol | ISRB | |
Amendment Flag | false | |
Current Fiscal Year End Date | --09-30 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2018 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2,018 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 1,011,254 |
Condensed Balance Sheets
Condensed Balance Sheets - USD ($) | Jun. 30, 2018 | Sep. 30, 2017 |
ASSETS | ||
Cash and Equivalents | $ 9,394 | |
Security Deposits | 167 | |
Total assets | 9,561 | |
Current Liabilities: | ||
Accounts payable and accrued expenses | 3,841 | 61,313 |
Notes payable - related party | 2,500 | 2,500 |
Total current liabilities | 6,341 | 63,813 |
Total Liabilities | 6,341 | 63,813 |
Stockholders' equity / (deficit): | ||
Preferred Stock, $0.001 par value, 5,000,000 shares authorized, none issued and outstanding | ||
Common stock, $0.001 par value, 250,000,000 and 50,000,000 shares authorized, 1,011,254 and 111,254 shares issued and outstanding, respectively | 1,011 | 111 |
Additional paid in capital | 1,438,949 | 1,243,028 |
Accumulated equity / (deficit) | (1,436,740) | (1,306,952) |
Total Stockholders' equity / (deficit) | 3,220 | (63,813) |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY / (DEFICIT) | $ 9,561 |
Condensed Balance Sheets (Paren
Condensed Balance Sheets (Parenthetical) - $ / shares | Jun. 30, 2018 | Sep. 30, 2017 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | ||
Preferred stock, shares outstanding | ||
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 250,000,000 | 50,000,000 |
Common stock, shares issued | 1,011,254 | 111,254 |
Common stock, shares outstanding | 1,011,254 | 111,254 |
Condensed Statements of Operati
Condensed Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
OPERATING EXPENSES | ||||
General and administrative | $ 15,070 | $ 4,454 | $ 129,694 | $ 42,622 |
Total operating expenses | 15,070 | 4,454 | 129,694 | 42,622 |
LOSS FROM OPERATIONS | (15,070) | (4,454) | (129,694) | (42,622) |
Other expenses | ||||
Interest expense | 32 | 5,609 | 94 | 22,693 |
Net Loss before provision for income taxes | (15,102) | (10,063) | (129,788) | (65,315) |
Provision for income taxes | ||||
NET LOSS | $ (15,102) | $ (10,063) | $ (129,788) | $ (65,315) |
Net loss per share - basic and diluted | $ (0.01) | $ (0.09) | $ (0.17) | $ (0.59) |
Weighted average number of shares outstanding during the period - basic and diluted | 1,011,254 | 111,254 | 753,166 | 111,254 |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (129,788) | $ (65,315) |
Stock issued for services | 90,000 | |
Changes in operating assets and liabilities: | ||
Security Deposits | (167) | |
Increase / (Decrease) in accounts payable and accrued interest | (57,472) | 65,015 |
Net Cash Used In Operating Activities | (97,427) | (300) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Contribution of capital | 84,703 | 300 |
Loans from Related Party, Net | 22,118 | |
Net Cash Used In Financing Activities | 106,821 | 300 |
NET INCREASE IN CASH | 9,394 | |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | ||
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 9,394 | |
Supplemental disclosure of non cash investing & financing activities: | ||
Adjustments to APIC from forgiven interest for related party loans | 220,732 | |
Adjustments to APIC from forgiven accrued salary | 270,000 | |
Adjustments to APIC from forgiven related party notes | $ 22,118 | $ 587,406 |
General Organization and Busine
General Organization and Business | 9 Months Ended |
Jun. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GENERAL ORGANIZATION AND BUSINESS | NOTE 1. GENERAL ORGANIZATION AND BUSINESS Inspired Builders, Inc. (the “Company”) was incorporated in the State of Nevada in February 2010. Until August 15, 2017 the Company was directing it’s focus on acquiring, investing in, developing and managing real estate properties and related investments. On August 15, 2017, pursuant to a change in control transaction, we relocated to Miami, Florida and ceased all operations as a real estate company. On February 15, 2018, .Inspired Builders (the “Company”), the majority shareholders of the Company (the “Sellers”) and Santa Alba, LLC (the “Purchaser”) entered into a stock purchase agreement (the “Stock Purchase Agreement”), whereby the Purchaser purchased from the Sellers 956,440 shares of common stock, par value $0.001 per share, of the Company (the “Shares”), representing approximately 94.58% of the issued and outstanding shares of the Company, for an aggregate purchase price of $300,000 (the “Purchase Price”). On February 15, 2018, the closing of the transaction occurred (“Closing Date”). Also, in connection therewith, Scott Silverman, the Company’s sole officer and Director, resigned from his positions and named Kai Zhao as sole director and to the positions of CEO, CFO, Chief Accounting Officer and Secretary. The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in The United States of America and the rules and regulations of the Securities and Exchange Commission for interim financial information. Accordingly, they do not include all of the information necessary for a comprehensive presentation of financial position and results of operations. The unaudited interim financial statements should be read in conjunction with the financial statements and related notes included in our Annual Report on form 10-K for the year ended September 30, 2017, filed with the SEC on November 22, 2017. The interim results for the period ended June 30, 2018 are not necessarily indicative of expected results for the full fiscal year. It is management’s opinion, however that all material adjustments (consisting of normal recurring adjustments) have been made which are necessary for a fair financial statements presentation. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Jun. 30, 2018 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Such estimates and assumptions impact, among others, the following; estimates of the probability and potential magnitude of contingent liabilities, the valuation allowance for deferred tax assets due to continuing operating losses, valuation of shares issued in connection with the purchase of real estate, the valuation of the real estate and the evaluation of any impairment on the real estate. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from our estimates. Cash and Cash Equivalents Cash and cash equivalents are reported in the balance sheet at cost, which approximates fair value. For the purpose of the financial statements cash equivalents include all highly liquid investments with an original maturity of three months or less when purchased. There were no cash equivalents at June 30, 2018 and September 30, 2017. Earnings (Loss) per Share In accordance with accounting guidance now codified as FASB ASC Topic 260, “Earnings per Share,” basic earnings (loss) per share is computed by dividing net income (loss) by weighted average number of shares of common stock outstanding during each period. Diluted earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during the period. The Company has 0 and 0 shares issuable upon conversion of convertible notes payable that were not included in the computation of dilutive loss per share because their inclusion is anti-dilutive for the periods ended June 30, 2018 and September 30, 2017, respectively. Reverse Stock Split On May 15, 2018, the Company’s board of directors approved a reverse stock split whereby each one hundred (100) shares of our Common Stock was converted automatically into one (1) share of Common Stock. To avoid the issuance of fractional shares of Common Stock, the Company issued an additional share to all holders of a fractional share. The effective date of the reverse stock split was July 9, 2018 The Company has 1,011,254 issued and outstanding shares of common stock, which represents a decrease of 100,113,746 shares over its prior total of 101,125,000 issued and outstanding shares of common stock. The reverse split is reflected retrospectively in the accompanying financial statements. Income Taxes The Company accounts for income taxes in accordance with generally accepted accounting principles, which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed annually for differences between financial statement and income tax bases of assets and liabilities that will result in taxable income or deductible expenses in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets and liabilities to the amount expected to be realized. Income tax expense is the tax payable or refundable for the period adjusted for the change during the period in deferred tax assets and liabilities. The Company follows the accounting requirements associated with uncertainty in income taxes using the provisions of Financial Accounting Standards Board (FASB) ASC 740, Income Taxes. Using that guidance, tax positions initially need to be recognized in the financial statements when it is more likely than not the positions will be sustained upon examination by the tax authorities. It also provides guidance for derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. As of June 30, 2018, the Company has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements. All tax returns from fiscal years 2010 to 2017 are subject to IRS audit. Fair Value of Financial Investments The fair value of cash and cash equivalents, accounts payable, accrued liabilities, and notes payable approximates the carrying amount of these financial instruments due to their short-term maturity. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 revenue and expenses during the reporting period. Actual results could differ from those estimates. Recent accounting pronouncements The Company has reviewed the Accounting Standards Updates through ASU No. 2018-08 and these updates have no current applicability to the Company or their effect on the financial statements would not have been significant. |
Going Concern
Going Concern | 9 Months Ended |
Jun. 30, 2018 | |
Going Concern [Abstract] | |
GOING CONCERN | NOTE 3. GOING CONCERN As reflected in the accompanying financial statements, the Company has a net loss of $129,788 and working capital of $3,220 as of June 30, 2018. In addition, the Company has not had revenues since May 2011 and the only prospect for positive cash flow is through the issuance of common stock or debt. If the Company does not begin to generate sufficient revenue or raise additional funds through a financing, the Company may need to incur additional liabilities with certain related parties to sustain the Company’s existence. There are currently no plans or agreements in place to provide such funding. The Company will require additional funding to finance the growth of its future operations as well as to achieve its strategic objectives. This raises substantial doubt about its ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company’s ability to raise additional capital and generate revenue. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. |
Loan Payable - Related Party
Loan Payable - Related Party | 9 Months Ended |
Jun. 30, 2018 | |
Loan Payable - Related Party [Abstract] | |
LOAN PAYABLE - RELATED PARTY | NOTE 4. LOAN PAYABLE – RELATED PARTY On October 17, 2017, our former CEO loaned the Company $14,300. The loan is interest free and is payable on demand. On February 15, 2018, the loan was forgiven. The transaction was accounted for as contributed capital. On October 20, 2017, our former CEO loaned the Company $825. The loan is interest free and is payable on demand. On February 15, 2018, the loan was forgiven. The transaction was accounted for as contributed capital. On January 7, 2018, our former CEO loaned the Company $3,000. The loan is interest free and is payable on demand. On February 15, 2018, the loan was forgiven. The transaction was accounted for as contributed capital. On January 25, 2018 our former CEO loaned the Company $1,562. The loan is interest free and is payable on demand. On April 6, 2018 the loan was repaid. On January 26, 2018, our former CEO loaned the Company $109. The loan is interest free and is payable on demand. On February 15, 2018, the loan was forgiven. The transaction was accounted for as contributed capital. On February 13, 2018, our former CEO loaned the Company $3,884. The loan is interest free and is payable on demand. On February 15, 2018, the loan was forgiven. The transaction was accounted for as contributed capital. On February 22, 2018, our CEO loaned the Company $342. The loan is interest free and is payable on demand. On April 6, 2018, the loan was repaid. On February 28, 2018, our CEO loaned the Company $346. The loan is interest free and is payable on demand. On April 19, 2018, the loan was repaid. On February 28, 2018, our CEO loaned the Company $865. The loan is interest free and is payable on demand. On April 6, 2018 the loan was repaid. On April 1, 2018, our CEO loaned the Company $167. The loan is interest free and is payable on demand. On April 19, 2018, the loan was repaid. On April 19, 2018, our CEO loaned the Company $167. The loan is interest free and is payable on demand. On April 19, 2018, the loan was repaid. |
Notes Payable - Related Parties
Notes Payable - Related Parties | 9 Months Ended |
Jun. 30, 2018 | |
Notes Payable - Related Parties [Abstract] | |
NOTES PAYABLE - RELATED PARTIES | NOTE 5. NOTES PAYABLE – RELATED PARTIES On January 13, 2012, the Company entered into a 12-month unsecured promissory note in the amount of $211,000. Interest accrues in arrears on the outstanding principal at the rate of ten percent (10.00%) per annum. Interest shall be payable on the last day of each quarter, commencing March 30, 2012, and continuing until the maturity date. Should the maker fail to pay the entire principal and accrued interest by the maturity date, the maker agrees that the interest rate shall increase to twelve percent (12.00%) per annum. On May 10, 2013, the Company and the related party agreed to extend the maturity of the loan for an additional year or until January 13, 2014. The loan maturity dates were further extended to January 13, 2016. On May 22, 2012, the Company borrowed an additional $32,714 from the related party, with the same terms, the loan maturity dates were extended to January 13, 2016. On September 17, 2012, the Company borrowed an additional $22,032 from the related party, with the same terms, the loan maturity dates were extended to January 13, 2016. On February 7, 2013, the Company borrowed an additional $28,773 from the related party, with the same terms, and on July 31, 2013, the Company borrowed an additional $30,000 from the related party, with the same terms. The loans maturity dates were further extended to February 7, 2016 and July 31, 2016, respectively. On December 20, 2013, the Company borrowed $2,500, on January 7, 2014, the Company borrowed $5,000, on February 6, 2014, the Company borrowed $5,520, the loans maturity dates were further extended to December 20, 2015 and January 7, 2016. On February 17, 2014, the Company borrowed $4,400 and on June 26, 2014, the Company borrowed $3,080, the loans maturity dates were further extended to February 6, 2016 and February 17, 2016, respectively. On November 15, 2016, the Company and the related party entered into a Release and Settlement Agreement whereby $342,519 in principal and $149,258 in accrued interest was forgiven. The transaction was accounted for as contributed capital. The total outstanding principal at June 30, 2018 and September 30, 2017 amounted to $2,500 and $2,500, respectively. Accrued interest at June 30, 2018 and September 30, 2017, amounted to $567 and $473, respectively. |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Jun. 30, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 6. COMMITMENTS AND CONTINGENCIES From time to time, the Company may become involved in various lawsuits and legal proceedings, which arise in the ordinary course of business. However, litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise that may harm its business. The Company is currently not aware of any such legal proceedings or claims that they believe will have, individually or in the aggregate, a material adverse effect on its business, financial condition or operating results. |
Shareholders' Equity
Shareholders' Equity | 9 Months Ended |
Jun. 30, 2018 | |
Equity [Abstract] | |
SHAREHOLDERS' EQUITY | NOTE 7. SHAREHOLDERS’ EQUITY On October 17, 2017, our former CEO loaned the Company $14,300. The loan is interest free and is payable on demand. On February 15, 2018, the loan was forgiven. The transaction was accounted for as contributed capital. On October 20, 2017, our former CEO loaned the Company $825. The loan is interest free and is payable on demand. On February 15, 2018, the loan was forgiven. The transaction was accounted for as contributed capital. On January 7, 2018, our former CEO entered into an unsecured note payable for $3,000 with an interest rate of 0% due upon demand by the holder. On February 15, 2018, the loan was forgiven. The transaction was accounted for as contributed capital. On January 26, 2018, our former CEO entered into an unsecured note payable for $109, with an interest rate of 0% due upon demand by the holder. On February 15, 2018, the loan was forgiven. The transaction was accounted for as contributed capital. On February 13, 2018, our former CEO entered into an unsecured note payable for $3,884, with an interest rate of 0% due upon demand by the holder. On February 15, 2018, the loan was forgiven. The transaction was accounted for as contributed capital. On February 15, 2018, our former CEO contributed $57,033 to the Company to pay for certain outstanding liabilities. The transaction was accounted for as contributed capital. On March 19, 2018, our former CEO contributed $170 to the Company to pay for certain outstanding liabilities. The transaction was accounted for as contributed capital. On April 9, 2018, a company controlled by our CEO contributed $25,000 to the Company to fund operations. The transaction was accounted for as contributed capital. On May 15, 2018 the Board of Directors approved and affected a reverse stock split of our issued and outstanding common stock on a one hundred (100) old for one (1) new basis. No cash was paid or distributed as a result of the reverse stock split and no fractional shares were issued. All fractional shares, which would otherwise be required to be issued as a result of the stock split, were rounded up to the nearest whole share. There was no change in the par value of our common stock. The split is reflected retrospectively in the accompanying financial statements. On May 21, 2018, our former CEO contributed $2,500 to the Company to pay for certain outstanding liabilities. The transaction was accounted for as contributed capital. There are 250,000,000 common shares at $0.001 par value authorized with 1,011,254 shares issued and outstanding at June 30, 2018. |
Concentration of Credit Risk
Concentration of Credit Risk | 9 Months Ended |
Jun. 30, 2018 | |
Risks and Uncertainties [Abstract] | |
CONCENTRATION OF CREDIT RISK | NOTE 8. CONCENTRATION OF CREDIT RISK The Company relies heavily on the support of its president and majority shareholder. A withdrawal of this support, for any reason, will have a material adverse effect on the Company’s financial position and its operations. |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Jun. 30, 2018 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 9. RELATED PARTY TRANSACTIONS On January 13, 2012, the Company entered into a 12-month unsecured promissory note in the amount of $211,000. Interest accrues in arrears on the outstanding principal at the rate of ten percent (10.00%) per annum. Interest shall be payable on the last day of each quarter, commencing March 30, 2012, and continuing until the maturity date. Should the maker fail to pay the entire principal and accrued interest by the maturity date, the maker agrees that the interest rate shall increase to twelve percent (12.00%) per annum. On May 10, 2013, the Company and the related party agreed to extend the maturity of the loan for an additional year or until January 13, 2014. The loan maturity dates were further extended to January 13, 2016. On May 22, 2012, the Company borrowed an additional $32,714 from the related party, with the same terms, the loan maturity dates were extended to January 13, 2016. On September 17, 2012, the Company borrowed an additional $22,032 from the related party, with the same terms, the loan maturity dates were extended to January 13, 2016. On February 7, 2013, the Company borrowed an additional $28,773 from the related party, with the same terms, and on July 31, 2013, the Company borrowed an additional $30,000 from the related party, with the same terms. The loans maturity dates were further extended to February 7, 2016 and July 31, 2016, respectively. On December 20, 2013, the Company borrowed $2,500, on January 7, 2014, the Company borrowed $5,000, on February 6, 2014, the Company borrowed $5,520, the loans maturity dates were further extended to December 20, 2015 and January 7, 2016. On February 17, 2014, the Company borrowed $4,400 and on June 26, 2014, the Company borrowed $3,080, the loans maturity dates were further extended to February 6, 2016 and February 17, 2016, respectively. On November 15, 2016, the Company and the related party entered into a Release and Settlement Agreement whereby $342,519 in principal and $149,258 in accrued interest was forgiven. The transaction was accounted for as contributed capital. The total outstanding principal at June 30, 2018 and September 30, 2017 amounted to $2,500 and $2,500, respectively. Accrued interest at June 30, 2018 and September 30, 2017, amounted to $567 and $473, respectively. On October 17, 2017, our former CEO loaned the Company $14,300. The loan is interest free and is payable on demand. On February 15, 2018, the loan was forgiven. The transaction was accounted for as contributed capital. On October 20, 2017, our former CEO loaned the Company $825. The loan is interest free and is payable on demand. On February 15, 2018, the loan was forgiven. The transaction was accounted for as contributed capital. On December 18, 2017, the Company issued 900,000 common shares with a fair value of $90,000 to JJL Capital Management, LLC, a company beneficially owned and controlled by our former CEO for services rendered to the Company by our CEO. On January 8, 2018, our former CEO entered into an unsecured note payable for $3,000 with an interest rate of 0% due upon demand by the holder. On February 15, 2018, the loan was forgiven. The transaction was accounted for as contributed capital. On January 25, 2018, our former CEO entered into an unsecured note payable for $109, with an interest rate of 0% due upon demand by the holder. On February 15, 2018, the loan was forgiven. The transaction was accounted for as contributed capital. On January 25, 2018 our former CEO loaned the Company $1,562. The loan is interest free and is payable on demand. On April 6, 2018 the loan was repaid. On February 13, 2018, our former CEO entered into an unsecured note payable for $3,884, with an interest rate of 0% due upon demand by the holder. On February 15, 2018, the loan was forgiven. The transaction was accounted for as contributed capital. On February 15, 2018, our former CEO contributed $57,033 to the Company to pay for certain outstanding liabilities. The transaction was accounted for as contributed capital. On February 22, our CEO loaned $342 to the Company, with an interest rate of 0% and due on demand. The loan was repaid on April 6, 2018. On February 28, 2018, our CEO loaned the Company $346. The loan is interest free and is payable on demand. The loan was repaid on April 19, 2018. On February 28, 2018, our CEO loaned the Company $865. The loan is interest free and is payable on demand. On April 6, 2018 the loan was repaid. On March 19, 2018, our former CEO contributed $170 to the Company to pay for certain outstanding liabilities. The transaction was accounted for as contributed capital. On April 9, 2018, a company controlled by our CEO contributed $25,000 to the Company to fund operations. The transaction was accounted for as contributed capital. On May 21, 2018, our former CEO contributed $2,500 to the Company to pay for certain outstanding liabilities. The transaction was accounted for as contributed capital. On April 1, 2018, our CEO loaned the Company $167. The loan is interest free and is payable on demand. On April 19, 2018, the loan was repaid. On April 19, 2018, our CEO loaned the Company $167. The loan is interest free and is payable on demand. On April 19, 2018, the loan was repaid. |
Subsequent Event
Subsequent Event | 9 Months Ended |
Jun. 30, 2018 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENT | NOTE 10. SUBSEQUENT EVENT On January 25, 2018 our CEO loaned the Company $1,562. The loan is interest free and is payable on demand. On April 6, 2018 the loan was repaid. On February 22, 2018 our CEO loaned $342 to the Company, with an interest rate of 0% and due on demand. The loan was repaid on April 6, 2018. On February 28, 2018, our CEO loaned $865 to the Company, with an interest rate of 0% and due on demand. The loan was repaid on April 6, 2018. |
Summary of Significant Accoun16
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Jun. 30, 2018 | |
Accounting Policies [Abstract] | |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Such estimates and assumptions impact, among others, the following; estimates of the probability and potential magnitude of contingent liabilities, the valuation allowance for deferred tax assets due to continuing operating losses, valuation of shares issued in connection with the purchase of real estate, the valuation of the real estate and the evaluation of any impairment on the real estate. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from our estimates. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 revenue and expenses during the reporting period. Actual results could differ from those estimates. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents are reported in the balance sheet at cost, which approximates fair value. For the purpose of the financial statements cash equivalents include all highly liquid investments with an original maturity of three months or less when purchased. There were no cash equivalents at June 30, 2018 and September 30, 2017. |
Earnings (Loss) per Share | Earnings (Loss) per Share In accordance with accounting guidance now codified as FASB ASC Topic 260, “Earnings per Share,” basic earnings (loss) per share is computed by dividing net income (loss) by weighted average number of shares of common stock outstanding during each period. Diluted earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during the period. The Company has 0 and 0 shares issuable upon conversion of convertible notes payable that were not included in the computation of dilutive loss per share because their inclusion is anti-dilutive for the periods ended June 30, 2018 and September 30, 2017, respectively. |
Reverse Stock Split | Reverse Stock Split On May 15, 2018, the Company’s board of directors approved a reverse stock split whereby each one hundred (100) shares of our Common Stock was converted automatically into one (1) share of Common Stock. To avoid the issuance of fractional shares of Common Stock, the Company issued an additional share to all holders of a fractional share. The effective date of the reverse stock split was July 9, 2018 The Company has 1,011,254 issued and outstanding shares of common stock, which represents a decrease of 100,113,746 shares over its prior total of 101,125,000 issued and outstanding shares of common stock. The reverse split is reflected retrospectively in the accompanying financial statements. |
Income Taxes | Income Taxes The Company accounts for income taxes in accordance with generally accepted accounting principles, which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed annually for differences between financial statement and income tax bases of assets and liabilities that will result in taxable income or deductible expenses in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets and liabilities to the amount expected to be realized. Income tax expense is the tax payable or refundable for the period adjusted for the change during the period in deferred tax assets and liabilities. The Company follows the accounting requirements associated with uncertainty in income taxes using the provisions of Financial Accounting Standards Board (FASB) ASC 740, Income Taxes. Using that guidance, tax positions initially need to be recognized in the financial statements when it is more likely than not the positions will be sustained upon examination by the tax authorities. It also provides guidance for derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. As of June 30, 2018, the Company has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements. All tax returns from fiscal years 2010 to 2017 are subject to IRS audit. |
Fair Value of Financial Investments | Fair Value of Financial Investments The fair value of cash and cash equivalents, accounts payable, accrued liabilities, and notes payable approximates the carrying amount of these financial instruments due to their short-term maturity. |
Recent accounting pronouncements | Recent accounting pronouncements The Company has reviewed the Accounting Standards Updates through ASU No. 2018-08 and these updates have no current applicability to the Company or their effect on the financial statements would not have been significant. |
General Organization and Busi17
General Organization and Business (Details) - $ / shares | Jun. 30, 2018 | Feb. 15, 2018 | Sep. 30, 2017 |
General Organization and Business (Textual) | |||
Common stock, shares issued | 1,011,254 | 111,254 | |
Common stock, par value | $ 0.001 | $ 0.001 | |
Majority Shareholder [Member] | |||
General Organization and Business (Textual) | |||
Common stock, shares issued | 956,440 | ||
Common stock, par value | $ 0.001 | ||
Ownership percentage | 94.58% | ||
Shares price | $ 300,000 |
Summary of Significant Accoun18
Summary of Significant Accounting Policies (Details) - shares | May 15, 2018 | Sep. 30, 2017 | Jun. 30, 2018 |
Summary of Significant Accounting Policies (Textual) | |||
Shares issuable upon conversion of convertible notes payable | 0 | 0 | |
Reverse stock split, description | The Company’s board of directors approved a reverse stock split whereby each one hundred (100) shares of our Common Stock was converted automatically into one (1) share of Common Stock. | ||
Date of reverse stock split | Jul. 9, 2018 | ||
Issued and outstanding shares of common stock | 1,011,254 | ||
Decrease of common stock, shares | 100,113,746 | ||
Issued and outstanding shares of common stock, total | 101,125,000 |
Going Concern (Details)
Going Concern (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Going Concern (Textual) | ||||
Net loss | $ (15,102) | $ (10,063) | $ (129,788) | $ (65,315) |
Working capital deficit | $ 3,220 |
Loan Payable - Related Party (D
Loan Payable - Related Party (Details) - CEO [Member] - USD ($) | Apr. 09, 2018 | Mar. 19, 2018 | Feb. 28, 2018 | Feb. 22, 2018 | Feb. 15, 2018 | Jan. 26, 2018 | Jan. 07, 2018 | May 21, 2018 | Apr. 19, 2018 | Mar. 31, 2018 | Feb. 13, 2018 | Jan. 25, 2018 | Oct. 20, 2017 | Oct. 17, 2017 |
Loan Payable - Related Party (Textual) | ||||||||||||||
Loan amount | $ 170 | $ 342 | $ 57,033 | $ 109 | $ 3,000 | $ 2,500 | $ 167 | $ 3,884 | $ 1,562 | $ 825 | $ 14,300 | |||
Loan payable, description | The transaction was accounted for as contributed capital. | The Company to pay for certain outstanding liabilities. The transaction was accounted for as contributed capital. | The loan was repaid on April 6, 2018. | The transaction was accounted for as contributed capital. | On February 15, 2018, the loan was forgiven. The transaction was accounted for as contributed capital. | On February 15, 2018, the loan was forgiven. The transaction was accounted for as contributed capital. | The transaction was accounted for as contributed capital. | The loan is interest free and is payable on demand. On April 19, 2018, the loan was repaid. | On February 15, 2018, the loan was forgiven. The transaction was accounted for as contributed capital. | On April 6, 2018 the loan was repaid. | On February 15, 2018, the loan was forgiven. The transaction was accounted for as contributed capital. | On February 15, 2018, the loan was forgiven. The transaction was accounted for as contributed capital. | ||
April 1, 2018 [Member] | ||||||||||||||
Loan Payable - Related Party (Textual) | ||||||||||||||
Loan amount | $ 167 | |||||||||||||
Loan payable, description | The loan is interest free and is payable on demand. On April 19, 2018, the loan was repaid. | |||||||||||||
February 28, 2018 [Member] | ||||||||||||||
Loan Payable - Related Party (Textual) | ||||||||||||||
Loan amount | $ 346 | |||||||||||||
Loan payable, description | The loan was repaid on April 19, 2018. | |||||||||||||
February 28, 2018 [Member] | ||||||||||||||
Loan Payable - Related Party (Textual) | ||||||||||||||
Loan amount | $ 865 | |||||||||||||
Loan payable, description | On April 6, 2018 the loan was repaid. |
Notes Payable - Related Parti21
Notes Payable - Related Parties (Details) - USD ($) | Jan. 13, 2012 | Jun. 30, 2018 | Sep. 30, 2017 | Nov. 15, 2016 | Jun. 26, 2014 | Feb. 17, 2014 | Feb. 06, 2014 | Jan. 07, 2014 | Dec. 20, 2013 | Jul. 31, 2013 | Feb. 07, 2013 | Sep. 17, 2012 | May 22, 2012 |
[custom:NotePayableRelatedPartyTextualAbstract] | |||||||||||||
Accrued interest | $ 567 | $ 473 | |||||||||||
Total outstanding principal | $ 2,500 | $ 2,500 | |||||||||||
Unsecured Debt [Member] | |||||||||||||
[custom:NotePayableRelatedPartyTextualAbstract] | |||||||||||||
Period of unsecured promissory note | 12 months | ||||||||||||
Unsecured promissory note | $ 211,000 | ||||||||||||
Interest rate | 10.00% | ||||||||||||
Increase interest rate incase of failure in repayment of note payable | 12.00% | ||||||||||||
Additional notes payable borrowed from related party | $ 3,080 | $ 4,400 | $ 5,520 | $ 5,000 | $ 2,500 | $ 30,000 | $ 28,773 | $ 22,032 | $ 32,714 | ||||
Accrued interest | $ 149,258 | ||||||||||||
Total outstanding principal | $ 342,519 |
Shareholders' Equity (Details)
Shareholders' Equity (Details) - USD ($) | May 15, 2018 | Apr. 09, 2018 | Mar. 19, 2018 | Feb. 22, 2018 | Feb. 15, 2018 | Jan. 26, 2018 | Jan. 07, 2018 | May 21, 2018 | Apr. 19, 2018 | Feb. 13, 2018 | Jan. 25, 2018 | Oct. 20, 2017 | Oct. 17, 2017 | Jun. 30, 2018 | Sep. 30, 2017 |
Shareholders' Equity (Textual) | |||||||||||||||
Reverse stock split, description | The Company’s board of directors approved a reverse stock split whereby each one hundred (100) shares of our Common Stock was converted automatically into one (1) share of Common Stock. | ||||||||||||||
Common stock, par value | $ 0.001 | $ 0.001 | |||||||||||||
Common stock, shares authorized | 250,000,000 | 50,000,000 | |||||||||||||
Common stock, shares issued | 1,011,254 | 111,254 | |||||||||||||
Common stock, shares outstanding | 1,011,254 | 111,254 | |||||||||||||
Chief Executive Officer [Member] | |||||||||||||||
Shareholders' Equity (Textual) | |||||||||||||||
Loan amount | $ 170 | $ 342 | $ 57,033 | $ 109 | $ 3,000 | $ 2,500 | $ 167 | $ 3,884 | $ 1,562 | $ 825 | $ 14,300 | ||||
Loan payable, description | The transaction was accounted for as contributed capital. | The Company to pay for certain outstanding liabilities. The transaction was accounted for as contributed capital. | The loan was repaid on April 6, 2018. | The transaction was accounted for as contributed capital. | On February 15, 2018, the loan was forgiven. The transaction was accounted for as contributed capital. | On February 15, 2018, the loan was forgiven. The transaction was accounted for as contributed capital. | The transaction was accounted for as contributed capital. | The loan is interest free and is payable on demand. On April 19, 2018, the loan was repaid. | On February 15, 2018, the loan was forgiven. The transaction was accounted for as contributed capital. | On April 6, 2018 the loan was repaid. | On February 15, 2018, the loan was forgiven. The transaction was accounted for as contributed capital. | On February 15, 2018, the loan was forgiven. The transaction was accounted for as contributed capital. | |||
Interest rate | 0.00% | 0.00% | |||||||||||||
CEO contributed to fund operations | $ 25,000 | ||||||||||||||
Reverse stock split, description | The Board of Directors approved and affected a reverse stock split of our issued and outstanding common stock on a one hundred (100) old for one (1) new basis. |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) | Apr. 09, 2018 | Mar. 19, 2018 | Feb. 28, 2018 | Feb. 22, 2018 | Feb. 15, 2018 | Jan. 26, 2018 | Jan. 08, 2018 | Jan. 07, 2018 | Jan. 13, 2012 | May 21, 2018 | Apr. 19, 2018 | Feb. 13, 2018 | Jan. 25, 2018 | Dec. 18, 2017 | Oct. 20, 2017 | Oct. 17, 2017 | Jun. 30, 2018 | Sep. 30, 2017 | Nov. 15, 2016 | Jun. 26, 2014 | Feb. 17, 2014 | Feb. 06, 2014 | Jan. 07, 2014 | Dec. 20, 2013 | Jul. 31, 2013 | Feb. 07, 2013 | Sep. 17, 2012 | May 22, 2012 |
Related Party Transactions (Textual) | ||||||||||||||||||||||||||||
Related party loan | $ 2,500 | $ 2,500 | ||||||||||||||||||||||||||
Total outstanding principal | 2,500 | 2,500 | ||||||||||||||||||||||||||
Accrued interest | $ 567 | $ 473 | ||||||||||||||||||||||||||
Chief Executive Officer [Member] | ||||||||||||||||||||||||||||
Related Party Transactions (Textual) | ||||||||||||||||||||||||||||
Related party loan | $ 57,033 | |||||||||||||||||||||||||||
Interest rate | 0.00% | 0.00% | ||||||||||||||||||||||||||
Loan payable, description | The transaction was accounted for as contributed capital. | The Company to pay for certain outstanding liabilities. The transaction was accounted for as contributed capital. | The loan was repaid on April 6, 2018. | The transaction was accounted for as contributed capital. | On February 15, 2018, the loan was forgiven. The transaction was accounted for as contributed capital. | On February 15, 2018, the loan was forgiven. The transaction was accounted for as contributed capital. | The transaction was accounted for as contributed capital. | The loan is interest free and is payable on demand. On April 19, 2018, the loan was repaid. | On February 15, 2018, the loan was forgiven. The transaction was accounted for as contributed capital. | On April 6, 2018 the loan was repaid. | On February 15, 2018, the loan was forgiven. The transaction was accounted for as contributed capital. | On February 15, 2018, the loan was forgiven. The transaction was accounted for as contributed capital. | ||||||||||||||||
Loan amount | $ 170 | $ 342 | $ 57,033 | $ 109 | $ 3,000 | $ 2,500 | $ 167 | $ 3,884 | $ 1,562 | $ 825 | $ 14,300 | |||||||||||||||||
CEO contributed to fund operations | $ 25,000 | |||||||||||||||||||||||||||
Chief Executive Officer [Member] | February Twenty Eighteen [Member] | ||||||||||||||||||||||||||||
Related Party Transactions (Textual) | ||||||||||||||||||||||||||||
Loan payable, description | The loan was repaid on April 19, 2018. | |||||||||||||||||||||||||||
Loan amount | $ 346 | |||||||||||||||||||||||||||
Chief Executive Officer [Member] | February Twenty Eighteen One [Member] | ||||||||||||||||||||||||||||
Related Party Transactions (Textual) | ||||||||||||||||||||||||||||
Loan payable, description | On April 6, 2018 the loan was repaid. | |||||||||||||||||||||||||||
Loan amount | $ 865 | |||||||||||||||||||||||||||
Jjl Capital Management Llc [Member] | ||||||||||||||||||||||||||||
Related Party Transactions (Textual) | ||||||||||||||||||||||||||||
Common shares issued for services | 900,000 | |||||||||||||||||||||||||||
Common stock value for services | $ 90,000 | |||||||||||||||||||||||||||
Unsecured Debt [Member] | ||||||||||||||||||||||||||||
Related Party Transactions (Textual) | ||||||||||||||||||||||||||||
Related party loan | $ 211,000 | |||||||||||||||||||||||||||
Interest rate | 10.00% | |||||||||||||||||||||||||||
Increase interest rate incase of failure in repayment of note payable | 12.00% | |||||||||||||||||||||||||||
Additional notes payable borrowed from related party | $ 3,080 | $ 4,400 | $ 5,520 | $ 5,000 | $ 2,500 | $ 30,000 | $ 28,773 | $ 22,032 | $ 32,714 | |||||||||||||||||||
Total outstanding principal | $ 342,519 | |||||||||||||||||||||||||||
Accrued interest | $ 149,258 | |||||||||||||||||||||||||||
Duration of unsecured promissory note | 12 months | |||||||||||||||||||||||||||
Unsecured Debt [Member] | Chief Executive Officer [Member] | ||||||||||||||||||||||||||||
Related Party Transactions (Textual) | ||||||||||||||||||||||||||||
Interest rate | 0.00% | 0.00% | ||||||||||||||||||||||||||
Loan payable, description | On February 15, 2018, the loan was forgiven. The transaction was accounted for as contributed capital. | On February 15, 2018, the loan was forgiven. The transaction was accounted for as contributed capital. | ||||||||||||||||||||||||||
Loan amount | $ 3,000 | $ 109 |
Subsequent Event (Details)
Subsequent Event (Details) - shares | May 15, 2018 | Jun. 30, 2018 |
Subsequent Events (Textual) | ||
Reverse stock split, description | The Company’s board of directors approved a reverse stock split whereby each one hundred (100) shares of our Common Stock was converted automatically into one (1) share of Common Stock. | |
Date of reverse stock split | Jul. 9, 2018 | |
Issued and outstanding shares of common stock | 1,011,254 | |
Decrease common stock shares | 100,113,746 | |
Issued and outstanding shares of common stock, total | 101,125,000 |