Sollensys (SOLS) 10-Q/A 28 Jul 20 2021 Q1 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jun. 30, 2020	Jul. 14, 2020
Document and Entity Information [Abstract]
Entity Registrant Name	SOLLENSYS CORP.
Entity Central Index Key	0001519177
Amendment Flag	true
Amendment Description	Sollensys is filing Amendment No. 1 to its Quarterly Report on Form 10-Q for the three months ended June 30, 2020 ("Amendment No. 1") to amend its Quarterly Report which was originally filed with the Securities and Exchange Commission (the "SEC") on July 15, 2020 (the "Original Quarter Report") to amend and restate its financial statements for the three months ended June 30, 2020. In the Original Quarter Filing, the Company's financial statements inadvertently failed to include the issuance of 19,000,000 preferred shares to a related party on April 1, 2020.   The purpose of this Amendment No. 1 is to restate the financial statements and to modify and update all other associated disclosures in the Original Quarterly Report. Amendment No. 1 continues to speak as of the date of the Original Quarterly Report, and except as noted above, the Company has not otherwise updated the disclosures contained therein to reflect any events which occurred at a date subsequent to the filing of the Original Quarterly Report. Accordingly, Amendment No. 1 should be read in conjunction with the Original Quarterly Report. See Note 7. "Restatement" to the Company's financial statements   In accordance with applicable SEC rules, this Amendment No. 1 includes new certifications required by Sections 302 and 906 of the Sarbanes-Oxley Act of 2002, as amended, from our Chief Executive Officer and Chief Financial Officer dated as of the filing date of this Amendment No. 1.
Current Fiscal Year End Date	--03-31
Document Type	10-Q/A
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Entity Current Reporting Status	No
Entity Filer Category	Non-accelerated Filer
Entity Ex Transition Period	true
Entity Interactive Data Current	No
Entity File Number	333-174581
Entity Small Business	true
Entity Shell Company	true
Entity Emerging Growth Company	true
Entity Common Stock, Shares Outstanding		502,075,402
Entity Incorporated State Country Code	NV

Balance Sheets (Unaudited)

Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2020	Mar. 31, 2020
Current assets:
Cash and cash equivalents
Total assets
Current liabilities:
Accrued expenses		31,429
Advance from stockholder		54,342
Loans payable related party	38,518	26,100
Total current liabilities	38,518	111,871
Total liabilities	38,518	111,871
Commitments and contingencies
Stockholders’ Equity:
Preferred stock, Series A, $0.001 par value, 25,000,000 shares authorized, 19,000,000 and -0- shares issued and outstanding as of June 30, 2020 and March 31, 2020, respectively	1,900,000
Common stock, $0.0001 par value, 1,500,000,000 shares authorized; 502,075,402 issued and outstanding as of June 30, 2020 and March 31, 2020, respectively	502,075	502,075
Retained earnings deficit	(2,440,593)	(613,946)
Total stockholders' equity (deficit)	(38,518)	(111,871)
Total liabilities and equity

Balance Sheets (Unaudited) (Par

Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2020	Mar. 31, 2020
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	1,500,000,000	1,500,000,000
Common stock, shares issued	502,075,402	502,075,402
Common stock, shares outstanding	502,075,402	502,075,402
Series A Preferred Stock [Member]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued	19,000,000	0
Preferred stock, shares outstanding	19,000,000	0

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Operating expenses:
General and administrative -related party	$ 12,418
Compensation related party	1,900,000
Total operating expenses	1,912,418
Income loss from operations	(1,912,418)
Other income (expense)
Gain on the extinguishment of debt	85,771
Total other income (expense)	85,771
Income (loss) before income taxes	(1,826,647)
Provision for income taxes
Net income (loss)	$ (1,826,647)
Basic and diluted earnings (loss) per common share	$ 0
Weighted-average number of common shares outstanding:
Basic and diluted	502,075,402	502,075,402

Statements of Changes in Stockh

Statements of Changes in Stockholder’s Equity (Unaudited) - USD ($)	Preferred Stock Series A	Common stock Shares	Retained Earnings (Deficit)	Total
Beginning balance at Mar. 31, 2019		$ 502,075	$ (587,846)	$ (85,771)
Beginning balance, shares at Mar. 31, 2019		502,075,402
Net income (loss)
Ending balance at Jun. 30, 2019		$ 502,075	(587,846)	(85,771)
Ending balance, shares at Jun. 30, 2019		502,075,402
Beginning balance at Mar. 31, 2020		$ 502,075	(613,946)	(111,871)
Beginning balance, shares at Mar. 31, 2020		502,075,402
Issuance of preferred shares to related party	$ 1,900,000			1,900,000
Issuance of preferred shares to related party, shares	19,000,000
Net income (loss)			(1,826,647)	(1,826,647)
Ending balance at Jun. 30, 2020	$ 1,900,000	$ 502,075	$ (2,440,593)	$ (38,518)
Ending balance, shares at Jun. 30, 2020	19,000,000	502,075,402

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities of continuing operations:
Net profit (loss)	$ (1,826,647)
Stock-based compensation, related party	1,900,000
Adjustments to reconcile net loss to cash used in operating activities:
Gain on the extinguishment of debt	(85,771)
Net cash (used in) operating activities	(12,418)
Cash flows from financing activities:
Related party loan	12,418
Net cash provided by financing activities	12,418
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period
Supplemental disclosure of cash flow information:
Cash paid for interest
Cash paid for income taxes

Organization and Description of

Organization and Description of Business	3 Months Ended
	Jun. 30, 2020
Organization and Description of Business [Abstract]
ORGANIZATION AND DESCRIPTION OF BUSINESS	NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS Sollensys Corp. ("Sollensys" or the "Company"), was formerly a development stage company, incorporated on September 29, 2010, under the laws of the State of Nevada. Initial plans included organization and incorporation, target market identification, marketing plans, and capital formation. A substantial portion of the Company's efforts involved developing a business plan and establishing contacts and visibility in the marketplace. The Company has not generated any revenues since inception. Effective July 30, 2012, the holder of 3,000,000 shares, or approximately 79.8% of Sollensys Corporation, (the "Company") then outstanding voting securities, executed a written consent in accordance with Section 78.320 of the NRS, approving the amendment to the Articles of Incorporation to change the Company's name to Sollensys Corp. and increase the common shares authorized to 1,500,000,000 and increase the preferred shares authorized to 25,000,000, and to split each outstanding share of common stock into 131.69 shares of common stock. The Company had been dormant since September 30, 2012. On December 27, 2019, the Eighth Judicial District Court of Clark County Nevada, pursuant to Case number A-19-805633-B appointed Custodian Ventures, LLC as the custodian of Sollensys Corp. David Lazar, who controls Custodian Ventures was subsequently named the only interim officer and director of the Company and is considered a related party for the purpose financial statement presentation. On June 16, 2020, Custodian Ventures filed a motion with the Eighth Judicial District Court of Clark County, Nevada to move the court for an order concluding and terminating the custodianship of the Company. The Company's accounting year-end is March 31.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying financial statements have been prepared in accordance with the Financial Accounting Standards Board (" FASB Codification GAAP Management's Representation of Interim Financial Statements The accompanying unaudited consolidated financial statements have been prepared by the Company without audit pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). Certain information and disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States ("GAAP") have been condensed or omitted as allowed by such rules and regulations, and management believes that the disclosures are adequate to make the information presented not misleading. These consolidated financial statements include all of the adjustments, which in the opinion of management are necessary to a fair presentation of financial position and results of operations. All such adjustments are of a normal and recurring nature. Interim results are not necessarily indicative of results for a full year. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements at March 31, 2020, and 2019, as presented in the Company's Annual Report on Form 10-K filed on April 29, 2020, with the SEC. Going Concern The accompanying financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business for the twelve-month period following the date of these financial statements. The Company has incurred significant operating losses since inception. As of June 30, 2020, the Company had a working capital deficit of $38,518 and negative shareholders' equity of $38,518. Because the Company does not expect that existing operational cash flow will be sufficient to fund presently anticipated operations, this raises substantial doubt about the Company's ability to continue as a going concern. Therefore, the Company will need to raise additional funds and is currently exploring alternative sources of financing. Historically, the Company has raised capital through private placements, as an interim measure to finance working capital needs and may continue to raise additional capital through the sale of common stock or other securities and obtaining some short-term loans. The Company will be required to continue to so until its operations become profitable. Also, the Company has, in the past, paid for consulting services with its common stock to maximize working capital, and intends to continue this practice where feasible. Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of expenses during the reporting period. The most significant estimates relate to income taxes and contingencies. The Company bases its estimates on historical experience, known or expected trends, and various other assumptions that are believed to be reasonable given the quality of information available as of the date of these financial statements. The results of these assumptions provide the basis for making estimates about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results could differ from these estimates. Revenue Recognition We have not generated any revenue since inception. On January 1, 2018, the Company adopted Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers ("ASC 606"). Results for reporting periods beginning after January 1, 2018, are presented under ASC 606. As of and for the year ended March 31, 2020, the financial statements were not materially impacted as a result of the application of Topic 606 compared to Topic 605. Cash and cash equivalents The Company considers all highly liquid temporary cash investments with an original maturity of three months or less to be cash equivalents. On June 30, 2020, and March 31, 2020, the Company's cash equivalents totaled $0 and $0 respectively. Income taxes The Company accounts for income taxes under FASB ASC 740, "Accounting for Income Taxes" "Accounting for Uncertainty in Income Taxes" The amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. The Company assesses the validity of its conclusions regarding uncertain tax positions quarterly to determine if facts or circumstances have arisen that might cause it to change its judgment regarding the likelihood of a tax position's sustainability under audit. Stock-based Compensation The Company accounts for stock-based compensation using the fair value method following the guidance outlined in Section 718-10 of the FASB Accounting Standards Codification for disclosure about Stock-Based Compensation. This section requires a public entity to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award (with limited exceptions). That cost will be recognized over the period during which an employee is required to provide service in exchange for the award- the requisite service period (usually the vesting period). No compensation cost is recognized for equity instruments for which employees do not render the requisite service. Net Loss per Share Net loss per common share is computed by dividing net loss by the weighted average common shares outstanding during the period as defined by Financial Accounting Standards, ASC Topic 260, "Earnings per Share." Basic earnings per common share ("EPS") calculations are determined by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per common share calculations are determined by dividing net income by the weighted average number of common shares and dilutive common share equivalents outstanding. Recent Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) Codification Improvements Codification Improvements to Topic 842, Leases (Topic 842) Targeted Improvements, We adopted ASC 842 on January 1, 2019. The adoption of this guidance did not have any impact on our financial statements.

Loans Payable Related Party

Loans Payable Related Party	3 Months Ended
	Jun. 30, 2020
Related Party Transactions [Abstract]
LOANS PAYABLE RELATED PARTY	NOTE 3 – LOANS PAYABLE RELATED PARTY As of June 30, 2020, and March 31, 2020, the balances of loans payable related party were $38,518 and $26,100 respectively. These balances reflect operating expenses of the Company which have been funded by the Company’s Court-appointed custodian in the form of interest-free demand loans.

Accrued Expenses and Advance Fo

Accrued Expenses and Advance Form Stockholders	3 Months Ended
	Jun. 30, 2020
Advance from shareholder, contribution to paid-in capital
ACCRUED EXPENSES AND ADVANCE FORM STOCKHOLDERS	NOTE 4 – ACCRUED EXPENSES AND ADVANCE FORM STOCKHOLDERS As of June 30, 2020, the balances of “accrued expenses” and “advance from stockholder” were $-0- and $-0-, respectively, compared to $31,429 and $54,342, respectively, at March 31, 2020. During the three months ended June 30, 2020, the Company determined that the statute of limitations per Nevada law for any claims to be made relating to liabilities that had been recorded on the Company’s books and records dating back to 2013 and prior. As a result, the Company determined it no longer had any liability for accrued expenses or an advance to shareholder and recorded “other income” as a gain on the extinguishment of debt of $85,771 on its statements of operations for the period ended June 30, 2020.

Stockholders Equity

Stockholders Equity	3 Months Ended
	Jun. 30, 2020
Equity [Abstract]
STOCKHOLDERS EQUITY	NOTE 5 – STOCKHOLDERS EQUITY Preferred Stock Series A On March 21, 2020, the Company filed a Certificate of Designation to authorize 25,000,000 shares of Series A Preferred Stock ("Series A") at a par value of $0.001. Among other rights, the holders of Series A preferred shares shall have the right to convert each share of Series A into 50 shares of common stock. On April 1, 2020 we issued 19,000,000 shares of Series A preferred stock to the Company's Chief Executive Officer, David Lazar. Therefore, these preferred shares can be converted to 950,000,000 shares of common stock. As a result of this issuance, the Company recorded stock based compensation of $950,000 for the three-month period ended June 30, 2020. Common Stock The Company has authorized 1,500,000,000 shares of $0.001 common stock. As of June 30, 2020, and March 31, 2020, respectively, there were 502,075,402 shares issued and outstanding.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 6 – COMMITMENTS AND CONTINGENCIES The Company did not have any contractual commitments as of June 30, 2020, and March 31, 2020

Restatement

Restatement	3 Months Ended
	Jun. 30, 2020
Restatement [Abstract]
RESTATEMENT	NOTE 7 – RESTATEMENT The Company's previously filed financial statements did not include the impact of the issuance of 19,000,000 preferred shares to the Company's CEO. The chart below reflects the impact of this omission on the Company's Balance Sheet, Statement of Operations and on the Statements of Cash Flows : SOLLENSYS CORP. (Unaudited) Balance Sheets As Filed As Restated Difference 6/30/2020 6/30/2020 6/30/2020 ASSETS Current assets: Cash and cash equivalents $ - $ - $ - Total assets $ - $ - $ - LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accrued expenses $ - $ - $ - Advance from stockholder - - - Loans payable related party 38,518 38,518 - Total current liabilities 38,518 38,518 - Total liabilities 38,518 38,518 - Commitments and contingencies - - - Stockholders' Equity: Preferred stock, Series A, $0.001 par value, 25,000,000 shares authorized, 19,000,000 and -0- shares issued and outstanding as of June 30, 2020 and March 31, 2020, respectively - 950,000 950,000 Common stock, $0.0001 par value, 1,500,000,000 shares authorized; 502,075,402 issued and outstanding as of June 30, 2020 and March 31, 2020, respectively 502,075 502,075 - Retained earnings deficit (540,593 ) (1,490,593 ) (950,000 ) Total stockholders' equity (deficit) (38,518 ) (38,518 ) - Total liabilities and equity $ - $ - $ - SOLLENSYS CORP. (Unaudited) Statements of Operations As Filed As Restated Difference 6/30/2020 6/30/2020 6/30/2020 Operating expenses: General and administrative -related party $ 12,418 $ 12,418 $ - Compensation related party - 950,000 950,000 Total operating expenses 12,418 962,418 950,000 Income loss from operations (12,418 ) (962,418 ) (950,000 ) Other income (expense) Gain on the extinguishment of debt 85,771 85,771 - Total other income (expense) 85,771 85,771 - Income (loss) before income taxes 73,353 (876,647 ) (950,000 ) Provision for income taxes - - - Net income (loss) $ 73,353 (876,647 ) (950,000 ) Basic and diluted earnings (loss) per common share $ 0.00 $ (0.00 ) $ (0.00 ) Weighted-average number of common shares outstanding: Basic and diluted 502,075,402 502,075,402 - SOLLENSYS CORP. (Unaudited) Statements of Cash Flows As Filed As Restated Difference 6/30/2020 6/30/2020 6/30/2020 Cash flows from operating activities of continuing operations: Net profit (loss) $ 73,353 $ (876,647 ) $ (950,000 ) Stock-based compensation, related party - 950,000 950,000 Adjustments to reconcile net loss to cash used in operating activities: Gain on the extinguishment of debt (85,771 ) (85,771 ) - Net cash (used in) operating activities (12,418 ) (12,418 ) - Cash flows from financing activities: Related party loan 12,418 12,418 - Net cash provided by financing activities 12,418 12,418 - Net increase (decrease) in cash and cash equivalents - - - Cash and cash equivalents at beginning of period - - - Cash and cash equivalents at end of period $ - $ - $ - Supplemental disclosure of cash flow information: Cash paid for interest $ - $ - $ - Cash paid for income taxes $ - $ - $ -

Subsequent Events

Subsequent Events	3 Months Ended
	Jun. 30, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 8 – SUBSEQUENT EVENTS In accordance with ASC 855-10 management has evaluated subsequent events from June 30, 2020, through the date the financial statements were available to be issued and has determined that there are no items requiring disclosure.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying financial statements have been prepared in accordance with the Financial Accounting Standards Board (" FASB Codification GAAP
Management’s Representation of Interim Financial Statements	Management's Representation of Interim Financial Statements The accompanying unaudited consolidated financial statements have been prepared by the Company without audit pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). Certain information and disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States ("GAAP") have been condensed or omitted as allowed by such rules and regulations, and management believes that the disclosures are adequate to make the information presented not misleading. These consolidated financial statements include all of the adjustments, which in the opinion of management are necessary to a fair presentation of financial position and results of operations. All such adjustments are of a normal and recurring nature. Interim results are not necessarily indicative of results for a full year. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements at March 31, 2020, and 2019, as presented in the Company's Annual Report on Form 10-K filed on April 29, 2020, with the SEC.
Going Concern	Going Concern The accompanying financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business for the twelve-month period following the date of these financial statements. The Company has incurred significant operating losses since inception. As of June 30, 2020, the Company had a working capital deficit of $38,518 and negative shareholders' equity of $38,518. Because the Company does not expect that existing operational cash flow will be sufficient to fund presently anticipated operations, this raises substantial doubt about the Company's ability to continue as a going concern. Therefore, the Company will need to raise additional funds and is currently exploring alternative sources of financing. Historically, the Company has raised capital through private placements, as an interim measure to finance working capital needs and may continue to raise additional capital through the sale of common stock or other securities and obtaining some short-term loans. The Company will be required to continue to so until its operations become profitable. Also, the Company has, in the past, paid for consulting services with its common stock to maximize working capital, and intends to continue this practice where feasible.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of expenses during the reporting period. The most significant estimates relate to income taxes and contingencies. The Company bases its estimates on historical experience, known or expected trends, and various other assumptions that are believed to be reasonable given the quality of information available as of the date of these financial statements. The results of these assumptions provide the basis for making estimates about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results could differ from these estimates.
Revenue Recognition	Revenue Recognition We have not generated any revenue since inception. On January 1, 2018, the Company adopted Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers ("ASC 606"). Results for reporting periods beginning after January 1, 2018, are presented under ASC 606. As of and for the year ended March 31, 2020, the financial statements were not materially impacted as a result of the application of Topic 606 compared to Topic 605.
Cash and cash equivalents	Cash and cash equivalents The Company considers all highly liquid temporary cash investments with an original maturity of three months or less to be cash equivalents. On June 30, 2020, and March 31, 2020, the Company's cash equivalents totaled $0 and $0 respectively.
Income taxes	Income taxes The Company accounts for income taxes under FASB ASC 740, "Accounting for Income Taxes" "Accounting for Uncertainty in Income Taxes" The amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. The Company assesses the validity of its conclusions regarding uncertain tax positions quarterly to determine if facts or circumstances have arisen that might cause it to change its judgment regarding the likelihood of a tax position's sustainability under audit.
Stock-based Compensation	Stock-based Compensation The Company accounts for stock-based compensation using the fair value method following the guidance outlined in Section 718-10 of the FASB Accounting Standards Codification for disclosure about Stock-Based Compensation. This section requires a public entity to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award (with limited exceptions). That cost will be recognized over the period during which an employee is required to provide service in exchange for the award- the requisite service period (usually the vesting period). No compensation cost is recognized for equity instruments for which employees do not render the requisite service.
Net Loss per Share	Net Loss per Share Net loss per common share is computed by dividing net loss by the weighted average common shares outstanding during the period as defined by Financial Accounting Standards, ASC Topic 260, "Earnings per Share." Basic earnings per common share ("EPS") calculations are determined by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per common share calculations are determined by dividing net income by the weighted average number of common shares and dilutive common share equivalents outstanding.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) Codification Improvements Codification Improvements to Topic 842, Leases (Topic 842) Targeted Improvements, We adopted ASC 842 on January 1, 2019. The adoption of this guidance did not have any impact on our financial statements.

Restatement (Tables)

Restatement (Tables)	3 Months Ended
	Jun. 30, 2020
Restatement [Abstract]
Schedule of impact of omission on the Company's Balance Sheet, Statement of Operations and Statements of Cash Flows	SOLLENSYS CORP. (Unaudited) Balance Sheets As Filed As Restated Difference 6/30/2020 6/30/2020 6/30/2020 ASSETS Current assets: Cash and cash equivalents $ - $ - $ - Total assets $ - $ - $ - LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accrued expenses $ - $ - $ - Advance from stockholder - - - Loans payable related party 38,518 38,518 - Total current liabilities 38,518 38,518 - Total liabilities 38,518 38,518 - Commitments and contingencies - - - Stockholders' Equity: Preferred stock, Series A, $0.001 par value, 25,000,000 shares authorized, 19,000,000 and -0- shares issued and outstanding as of June 30, 2020 and March 31, 2020, respectively - 950,000 950,000 Common stock, $0.0001 par value, 1,500,000,000 shares authorized; 502,075,402 issued and outstanding as of June 30, 2020 and March 31, 2020, respectively 502,075 502,075 - Retained earnings deficit (540,593 ) (1,490,593 ) (950,000 ) Total stockholders' equity (deficit) (38,518 ) (38,518 ) - Total liabilities and equity $ - $ - $ - SOLLENSYS CORP. (Unaudited) Statements of Operations As Filed As Restated Difference 6/30/2020 6/30/2020 6/30/2020 Operating expenses: General and administrative -related party $ 12,418 $ 12,418 $ - Compensation related party - 950,000 950,000 Total operating expenses 12,418 962,418 950,000 Income loss from operations (12,418 ) (962,418 ) (950,000 ) Other income (expense) Gain on the extinguishment of debt 85,771 85,771 - Total other income (expense) 85,771 85,771 - Income (loss) before income taxes 73,353 (876,647 ) (950,000 ) Provision for income taxes - - - Net income (loss) $ 73,353 (876,647 ) (950,000 ) Basic and diluted earnings (loss) per common share $ 0.00 $ (0.00 ) $ (0.00 ) Weighted-average number of common shares outstanding: Basic and diluted 502,075,402 502,075,402 - SOLLENSYS CORP. (Unaudited) Statements of Cash Flows As Filed As Restated Difference 6/30/2020 6/30/2020 6/30/2020 Cash flows from operating activities of continuing operations: Net profit (loss) $ 73,353 $ (876,647 ) $ (950,000 ) Stock-based compensation, related party - 950,000 950,000 Adjustments to reconcile net loss to cash used in operating activities: Gain on the extinguishment of debt (85,771 ) (85,771 ) - Net cash (used in) operating activities (12,418 ) (12,418 ) - Cash flows from financing activities: Related party loan 12,418 12,418 - Net cash provided by financing activities 12,418 12,418 - Net increase (decrease) in cash and cash equivalents - - - Cash and cash equivalents at beginning of period - - - Cash and cash equivalents at end of period $ - $ - $ - Supplemental disclosure of cash flow information: Cash paid for interest $ - $ - $ - Cash paid for income taxes $ - $ - $ -

Organization and Description _2

Organization and Description of Business (Details)	Jul. 30, 2012$ / sharesshares
Organization and Description of Business (Textual)
Shares sold resulting in change of control of registrant	3,000,000
Percentage of Registrant's shares sold	79.80%
Increase of common shares authorized	1,500,000,000
Increase of preferred shares authorized	25,000,000
Outstanding share of common stock | $ / shares	$ 131.69

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($)	3 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019
Summary of Significant Accounting Policies (Textual)
Working capital deficit	$ 38,518
Negative shareholders’ equity	(38,518)	$ (111,871)	$ (85,771)	$ (85,771)
Cash equivalents	$ 0	$ 0
Tax benefit percentage	50.00%

Loans Payable Related Party (De

Loans Payable Related Party (Details) - USD ($)	Jun. 30, 2020	Mar. 31, 2020
Loans Payable Related Party (Textual)
Loans payable related party	$ 38,518	$ 26,100

Accrued Expenses and Advance _2

Accrued Expenses and Advance Form Stockholders (Details) - USD ($)	3 Months Ended
	Jun. 30, 2020	Mar. 31, 2020
Accrued Expenses and Advance form Stockholders (Textual)
Accrued expenses		$ 31,429
Advance from stock holder		$ 54,342
Gain on the extinguishment of debt	$ 85,771

Stockholders Equity (Details)

Stockholders Equity (Details) - USD ($)	1 Months Ended		3 Months Ended
	Apr. 02, 2020	Mar. 21, 2020	Jun. 30, 2020	Mar. 31, 2020
Stockholders Equity (Textual)
Common stock, shares authorized			1,500,000,000	1,500,000,000
Common stock, par value			$ 0.001	$ 0.001
Common stock, shares issued			502,075,402	502,075,402
Common stock, shares outstanding			502,075,402	502,075,402
Share based compensation			$ 1,900,000
Preferred Stock Series A [Member]
Stockholders Equity (Textual)
Preferred stock, shares authorized		25,000,000	25,000,000
Preferred stock, par value		$ 0.001
Number of shares converted		50
Preferred stock, shares issued			19,000,000
Preferred stock, shares outstanding			19,000,000
Preferred Stock Series A [Member] | David Lazar [Member]
Stockholders Equity (Textual)
Number of shares converted	950,000,000
Preferred stock, shares issued	19,000,000

Restatement (Details)

Restatement (Details) - USD ($)	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019
Current assets:
Cash and cash equivalents
Total assets
Current liabilities:
Accrued expenses		31,429
Advance from stockholder		54,342
Loans payable related party	38,518	26,100
Total current liabilities	38,518	111,871
Total liabilities	38,518	111,871
Commitments and contingencies
Stockholders’ Equity:
Preferred stock, Series A, $0.001 par value, 25,000,000 shares authorized, 19,000,000 and -0- shares issued and outstanding as of June 30, 2020 and March 31, 2020, respectively	1,900,000
Common stock, $0.0001 par value, 1,500,000,000 shares authorized; 502,075,402 issued and outstanding as of June 30, 2020 and March 31, 2020, respectively	502,075	502,075
Retained earnings deficit	(2,440,593)	(613,946)
Total stockholders' equity (deficit)	(38,518)	(111,871)	$ (85,771)	$ (85,771)
Total liabilities and equity
As Filed [Member]
Current assets:
Cash and cash equivalents
Total assets
Current liabilities:
Accrued expenses
Advance from stockholder
Loans payable related party	38,518
Total current liabilities	38,518
Total liabilities	38,518
Commitments and contingencies
Stockholders’ Equity:
Preferred stock, Series A, $0.001 par value, 25,000,000 shares authorized, 19,000,000 and -0- shares issued and outstanding as of June 30, 2020 and March 31, 2020, respectively
Common stock, $0.0001 par value, 1,500,000,000 shares authorized; 502,075,402 issued and outstanding as of June 30, 2020 and March 31, 2020, respectively	502,075
Retained earnings deficit	(540,593)
Total stockholders' equity (deficit)	(38,518)
Total liabilities and equity
Difference [Member]
Current assets:
Cash and cash equivalents
Total assets
Current liabilities:
Accrued expenses
Advance from stockholder
Loans payable related party
Total current liabilities
Total liabilities
Commitments and contingencies
Stockholders’ Equity:
Preferred stock, Series A, $0.001 par value, 25,000,000 shares authorized, 19,000,000 and -0- shares issued and outstanding as of June 30, 2020 and March 31, 2020, respectively	1,900,000
Common stock, $0.0001 par value, 1,500,000,000 shares authorized; 502,075,402 issued and outstanding as of June 30, 2020 and March 31, 2020, respectively
Retained earnings deficit	(1,900,000)
Total stockholders' equity (deficit)
Total liabilities and equity

Restatement (Details 1)

Restatement (Details 1) - USD ($)	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Operating expenses:
General and administrative -related party	$ 12,418
Compensation related party	1,900,000
Total operating expenses	1,912,418
Income loss from operations	(1,912,418)
Other income (expense)
Gain on the extinguishment of debt	85,771
Total other income (expense)	85,771
Income (loss) before income taxes	(1,826,647)
Provision for income taxes
Net income (loss)	$ (1,826,647)
Basic and diluted earnings (loss) per common share	$ 0
Weighted-average number of common shares outstanding:
Basic and diluted	502,075,402	502,075,402
As Filed [Member]
Operating expenses:
General and administrative -related party	$ 12,418
Compensation related party
Total operating expenses	12,418
Income loss from operations	(12,418)
Other income (expense)
Gain on the extinguishment of debt	85,771
Total other income (expense)	85,771
Income (loss) before income taxes	(1,826,647)
Provision for income taxes
Net income (loss)	$ 73,353
Basic and diluted earnings (loss) per common share	$ 0
Weighted-average number of common shares outstanding:
Basic and diluted	502,075,402
Difference [Member]
Operating expenses:
General and administrative -related party
Compensation related party	1,900,000
Total operating expenses	1,900,000
Income loss from operations	(1,900,000)
Other income (expense)
Gain on the extinguishment of debt
Total other income (expense)
Income (loss) before income taxes	(1,900,000)
Provision for income taxes
Net income (loss)	$ (1,900,000)
Basic and diluted earnings (loss) per common share	$ 0
Weighted-average number of common shares outstanding:
Basic and diluted

Restatement (Details 2)

Restatement (Details 2) - USD ($)	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities of continuing operations:
Net profit (loss)	$ (1,826,647)
Stock-based compensation, related party	1,900,000
Adjustments to reconcile net loss to cash used in operating activities:
Gain on the extinguishment of debt	(85,771)
Net cash (used in) operating activities	(12,418)
Cash flows from financing activities:
Related party loan	12,418
Net cash provided by financing activities	12,418
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period
Supplemental disclosure of cash flow information:
Cash paid for interest
Cash paid for income taxes
As Filed [Member]
Cash flows from operating activities of continuing operations:
Net profit (loss)	73,353
Stock-based compensation, related party
Adjustments to reconcile net loss to cash used in operating activities:
Gain on the extinguishment of debt	(85,771)
Net cash (used in) operating activities	(12,418)
Cash flows from financing activities:
Related party loan	12,418
Net cash provided by financing activities	12,418
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period
Supplemental disclosure of cash flow information:
Cash paid for interest
Cash paid for income taxes
Difference [Member]
Cash flows from operating activities of continuing operations:
Net profit (loss)	(1,900,000)
Stock-based compensation, related party	1,900,000
Adjustments to reconcile net loss to cash used in operating activities:
Gain on the extinguishment of debt
Net cash (used in) operating activities
Cash flows from financing activities:
Related party loan
Net cash provided by financing activities
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period
Supplemental disclosure of cash flow information:
Cash paid for interest
Cash paid for income taxes

Restatement (Details Textual)

Restatement (Details Textual) - shares	Jun. 30, 2020	Mar. 31, 2020
Preferred Stock Series A
Preferred stock, shares issued	19,000,000	0