Bioscience Neutraceuticals (DEVV) 10-Q 7 Dec 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Dec. 06, 2017
Document And Entity Information
Entity Registrant Name	JOBLOCATIONMAP INC
Entity Central Index Key	1,555,995
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	No
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		9,500,000
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,017

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Current Assets
Cash and cash equivalents	$ 392
Inventory	3,954
Total Current Assets	4,346
Goodwill	87,896
TOTAL ASSETS	92,242
Current Liabilities
Accounts payable and accrued liabilities	14,316	9,101
Due to related parties	75,279	8,273
Notes payable	27,500	0
Total Current Liabilities	117,095	17,374
Total Liabilities	117,095	17,374
STOCKHOLDERS' DEFICIT
Preferred Stock, par value $0.0001, 50,000,000 shares authorized, 0 shares issued and outstanding, respectively
Common Stock, par value $0.0001, 100,000,000 shares authorized, 9,700,000 and 9,500,000 shares issued and outstanding, respectively	970	950
Additional paid-in capital	91,337	76,550
Accumulated deficit	(117,160)	(94,874)
Total Stockholders' deficit	(24,853)	(17,374)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 92,242

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2017	Dec. 31, 2016
Consolidated Balance Sheets Parenthetical
Preferred Stock, par value	$ 0.0001	$ 0.0001
Preferred Stock, shares authorized	50,000,000	50,000,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Common Stock, par value	$ 0.0001	$ 0.0001
Common Stock, shares authorized	100,000,000	100,000,000
Common Stock, shares issued	9,700,000	9,500,000
Common Stock, shares outstanding	9,700,000	9,500,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Consolidated Statements Of Operations
REVENUES	$ 4,318		$ 4,318
Cost of Goods Sold	3,518		3,518
Gross Profit	800		800
OPERATING EXPENSES
General and administrative	1,495	970	2,728	3,684
Professional	15,200	1,800	19,450	7,075
Total Operating Expenses	16,695	2,770	22,178	10,759
Net loss from operations	(15,895)	(2,770)	(21,378)	(10,759)
Other expense
Interest expense	(2,462)		(2,462)
Debt forgiveness	1,554		1,554
Total other expense	(908)		(908)
Net loss before taxes	(16,803)	(2,770)	(22,286)	(10,759)
Provision for income taxes
NET LOSS	$ (16,803)	$ (2,770)	$ (22,286)	$ (10,759)
Net Loss Per Common Share – Basic and Diluted	$ 0	$ 0	$ 0	$ 0
Weighted Average Common Shares Outstanding	9,680,435	9,500,000	9,560,584	9,500,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash Flows from Operating Activities:
Net loss	$ (22,286)	$ (10,759)
Adjustments to reconcile net loss to net cash used in operating activities:
Debt forgiveness	(1,554)
Changes in operating assets and liabilities:
Inventory	922
Accounts payable and accrued liabilities	2,691	4,759
Net Cash Used in Operating Activities	(20,227)	(6,000)
Cash Flows from Investing Activities:
Acquisition of subsidiary	(47,972)
Net Cash Used in Investing Activities	(47,972)
Cash Flows from Financing Activities:
Shareholder loans	57,208	4,329
Repayments of shareholder loans	(8,010)
Repayments of Loan(s)	(8,107)
Proceeds from notes payable	27,500
Net Cash Provided By Financing Activities	68,591	4,329
Net Increase (decrease) in Cash and Cash Equivalents	392	(1,671)
Cash and Cash Equivalents, beginning of period		1,671
Cash and Cash Equivalents, end of period	392
Supplemental Disclosure Information:
Cash paid for interest
Cash paid for taxes
Non-Cash Disclosure:
Forgiveness of debt by related party to contributed capital	8,273
Accounts payable balances settled by previous owner	$ 6,534

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS	Organization, Nature of Business and Trade Name JobLocationMap Inc. (the Company) was incorporated in the State of Nevada on June 15, 2010. JobLocationMap Inc.’s principal business objective is developing and marketing an online map application. The Company is located at 500 North Michigan Avenue #600, Chicago, Illinois. The Company’s activities are subject to significant risks and uncertainties including failing to secure additional funding to operationalize the Company’s online map application before another company develops a similar app. Recent Developments On July 10, 2017, the Company acquired all of the shares of Bio Health Products Inc. a Nevada corporation, in exchange for 200,000 shares of the Company’s common stock, whereby Bio Health Products Inc. became a wholly owned subsidiary of the Company. Bio Health Products Inc. had previously acquired the assets of Essential Oils, a sole proprietorship. Bio Health Products Inc. was owned by Liang Chen, the CEO of the Company. As these transactions are between entities under common control, the Company has reported the results of operations for the period in a manner similar to a pooling of interests and has consolidated financial results since the initial date in which the above companies were under common control. Assets and liabilities were combined on their carrying values and no recognition of goodwill was made. The Company has presented earnings per share based on the new parent company shares issued to the former shareholders of the Company.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	A summary of significant accounting policies of the Company is presented to assist in understanding the Company’s consolidated financial statements. The accounting policies presented in these footnotes conform to accounting principles generally accepted in the United States of America and have been consistently applied in the preparation of the accompanying financial statements. These financial statements and notes are representations of the Company’s management who are responsible for their integrity and objectivity. The Company has not realized revenues from its planned principal business purpose. Basis of Presentation The results for the nine months ended September 30, 2017 are not necessarily indicative of the results of operations for the full year. These consolidated financial statements and related footnotes should be read in conjunction with the financial statements and footnotes thereto included in the Company’s Annual Report on Form 10K for the year ended December 31, 2016, filed with the Securities and Exchange Commission. The accompanying condensed consolidated financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at September 30, 2017 and for the related periods presented. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its subsidiaries. Intercompany transactions and balances have been eliminated. Use of Estimates The preparation of financial statements in 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 revenues and expenses during the reporting period. A change in managements’ estimates or assumptions could have a material impact on JobLocationMap Inc.’s financial condition and results of operations during the period in which such changes occurred. Actual results could differ from those estimates. JobLocationMap Inc.’s financial statements reflect all adjustments that management believes are necessary for the fair presentation of their financial condition and results of operations for the periods presented. Cash and Cash Equivalents For purposes of the statement of cash flows, the Company considers all short-term debt securities purchased with maturity of three months or less to be cash equivalents. Inventory The Company’s inventory consists of oil products. All inventory is finished goods. Inventories are stated at the lower of cost or market value. Inventory is stored off-site and held by a third party. The Company utilizes last-in first-out for inventory items held. Items determined to be obsolete are reserved for. The Company provides for the possible inability to sell its inventories by providing an excess inventory reserve. As at September 30, 2017, the Company determined that no reserve was required. Goodwill We account for goodwill in accordance with ASC 350 ”Intangibles-Goodwill and Other” Fair Value of Financial Instruments The Company applies fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, which are required to be recorded at fair value, the Company considers the principal or most advantageous market in which the Company would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as risks inherent in valuation techniques, transfer restrictions and credit risk. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement: Level 1 Level 2 Level 3 In accordance with the fair value accounting requirements, companies may choose to measure eligible financial instruments and certain other items at fair value. The Company has not elected the fair value option for any eligible financial instruments. As of September 30, 2017 and December 31, 2016 the carrying value of accounts payable and loans that are required to be measured at fair value, approximated fair value due to the short-term nature and maturity of these instruments. Income Taxes The Company recognizes the tax effects of transactions in the year in which such transactions enter into the determination of net income, regardless of when reported for tax purposes. Recent Accounting Pronouncements In January 2017, the FASB has issued Accounting Standards Update (ASU) No. 2017-04, ”Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” In January 2017, the FASB issued ASU No. 2017-01, ”Business Combinations (Topic 805): Clarifying the Definition of a Business.”

GOING CONCERN

GOING CONCERN	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
NOTE 3 – GOING CONCERN	The Company’s consolidated financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. However, the Company does not have an established source of revenues sufficient to cover its operating costs and to allow it to continue as a going concern. Under the going concern assumption, an entity is ordinarily viewed as continuing in business for the foreseeable future with neither the intention nor the necessity of liquidation, ceasing trading, or seeking protection from creditors pursuant to laws or regulations. Accordingly, assets and liabilities are recorded on the basis that the entity will be able to realize its assets and discharge its liabilities in the normal course of business. The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plan described in the Nature of Business and Trade Name paragraph and eventually attain profitable operations. The accompanying financial statements do not include any adjustments that may be necessary if the Company is unable to continue as a going concern. During the next year, the Company’s foreseeable cash requirements will relate to continual development of the operations of its business, maintaining its good standing and making the requisite filings with the Securities and Exchange Commission, and the payment of expenses associated with research and development. The Company may experience a cash shortfall and be required to raise additional capital. Historically, it has mostly relied upon internally generated funds and funds from the sale of shares of stock to finance its operations and growth. Management may raise additional capital through future public or private offerings of the Company’s stock or through loans from private investors, although there can be no assurance that it will be able to obtain such financing. The Company’s failure to do so could have a material and adverse effect upon it and its shareholders. In the past year, the Company funded operations by using cash proceeds received through the issuance of common stock and loan from related party. For the coming year, the Company plans to continue to fund the Company through debt and securities sales and issuances until the company generates enough revenues through the operations as stated above.

EQUITY

EQUITY	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
NOTE 4 – EQUITY	The Company has authorized 100,000,000 shares of common stock with a par value of $0.0001 and 50,000,000 shares of preferred stock with a par value of $0.0001. Preferred stock As of September 30, 2017 and December 31, 2016, there was no shares issued and outstanding. Common stock On July 10, 2017, the Company issued 200,000 shares to acquire all of the shares of Bio Health Products Inc. (Note 1). 9,700,000 and 9,500,000 shares of common stock were issued and outstanding as of September 30, 2017 and December 31, 2016.

NOTE PAYABLE

NOTE PAYABLE	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
NOTE 5 – NOTE PAYABLE	On June 9, 2017, the Company issued note payable of $7,500 to a third party. The note is a 40 % interest bearing promissory note that is payable on demand. On August 14, 2017, the Company issued note payable of $20,000 to a third party. The note is a 40 % interest bearing promissory note that is payable on demand. As of September 30, 2017 and December 31, 2016, the Company owed notes payable of $27,500 and $0, respectively.

RELATED TRANSACTIONS

RELATED TRANSACTIONS	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
NOTE 6 – RELATED TRANSACTIONS	Due to related parties During the nine months ended September 30, 2017, the Company received loans from the previous Related Party Directors of $10,834 to pay for operating expenses. Prior to the sale of their shares, the loans to the two previous Related Party Directors were $21,107. Upon completion of the share purchase agreements between the two previous Related Party Directors, and the new CEO, the $14,807 was forgiven, and recorded to additional paid-in capital. During the nine months ended September 30, 2017, the new CEO loaned the Company $49,825 for operational expenses and acquisition of subsidiary. During the nine months ended September 30, 2017, the former officer of the subsidiary advanced $1,082 for operational expenses and repaid $8,009. As of September 30, 2017 and December 31, 2017, related party loan payable outstanding is $75,279 and $8,273, respectively.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
NOTE 7 – SUBSEQUENT EVENT	The Company evaluated all events or transactions that occurred after September 30, 2017 through the date of this filing. The Company determined that it does not have any subsequent event requiring recording or disclosure in the financial statements for the nine months ended September 30, 2017.

SUMMARY OF SIGNIFICANT ACCOUN13

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2017
Summary Of Significant Accounting Policies Policies
Basis of Presentation	The results for the nine months ended September 30, 2017 are not necessarily indicative of the results of operations for the full year. These consolidated financial statements and related footnotes should be read in conjunction with the financial statements and footnotes thereto included in the Company’s Annual Report on Form 10K for the year ended December 31, 2016, filed with the Securities and Exchange Commission. The accompanying condensed consolidated financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at September 30, 2017 and for the related periods presented.
Principles of Consolidation	The consolidated financial statements include the accounts of the Company and its subsidiaries. Intercompany transactions and balances have been eliminated.
Use of Estimates	The preparation of financial statements in 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 revenues and expenses during the reporting period. A change in managements’ estimates or assumptions could have a material impact on JobLocationMap Inc.’s financial condition and results of operations during the period in which such changes occurred. Actual results could differ from those estimates. JobLocationMap Inc.’s financial statements reflect all adjustments that management believes are necessary for the fair presentation of their financial condition and results of operations for the periods presented.
Cash and Cash Equivalents	For purposes of the statement of cash flows, the Company considers all short-term debt securities purchased with maturity of three months or less to be cash equivalents.
Inventory	The Company’s inventory consists of oil products. All inventory is finished goods. Inventories are stated at the lower of cost or market value. Inventory is stored off-site and held by a third party. The Company utilizes last-in first-out for inventory items held. Items determined to be obsolete are reserved for. The Company provides for the possible inability to sell its inventories by providing an excess inventory reserve. As at September 30, 2017, the Company determined that no reserve was required.
Goodwill	We account for goodwill in accordance with ASC 350 ”Intangibles-Goodwill and Other”
Fair Value of Financial Instruments	The Company applies fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, which are required to be recorded at fair value, the Company considers the principal or most advantageous market in which the Company would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as risks inherent in valuation techniques, transfer restrictions and credit risk. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement: Level 1 Level 2 Level 3 In accordance with the fair value accounting requirements, companies may choose to measure eligible financial instruments and certain other items at fair value. The Company has not elected the fair value option for any eligible financial instruments. As of September 30, 2017 and December 31, 2016 the carrying value of accounts payable and loans that are required to be measured at fair value, approximated fair value due to the short-term nature and maturity of these instruments.
Income Taxes	The Company recognizes the tax effects of transactions in the year in which such transactions enter into the determination of net income, regardless of when reported for tax purposes.
Recent Accounting Pronouncements	In January 2017, the FASB has issued Accounting Standards Update (ASU) No. 2017-04, ”Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” In January 2017, the FASB issued ASU No. 2017-01, ”Business Combinations (Topic 805): Clarifying the Definition of a Business.”

ORGANIZATION AND DESCRIPTION 14

ORGANIZATION AND DESCRIPTION OF BUSINESS (Details Narrative) - shares	9 Months Ended
	Sep. 30, 2017	Jul. 10, 2017
State of incorporation	Nevada
Date of incorporation	Jun. 15, 2010
Bio Health Products Inc [Member]
Number of shares exchanged for business acquisition		200,000

EQUITY (Details Narrative)

EQUITY (Details Narrative) - $ / shares	Sep. 30, 2017	Jul. 10, 2017	Dec. 31, 2016
Preferred stock, par value per share (in dollars per share)	$ 0.0001		$ 0.0001
Preferred stock, shares authorized	50,000,000		50,000,000
Preferred Stock, shares issued	0		0
Preferred Stock, shares outstanding	0		0
Common stock, par value per share (in dollars per share)	$ 0.0001		$ 0.0001
Common stock, shares authorized	100,000,000		100,000,000
Common stock, shares issued	9,700,000		9,500,000
Common stock, shares outstanding	9,700,000		9,500,000
Bio Health Products Inc [Member]
Number of shares exchanged for business acquisition		200,000

NOTE PAYABLE (Details Narrative

NOTE PAYABLE (Details Narrative) - USD ($)	Sep. 30, 2017	Aug. 14, 2017	Jun. 09, 2017	Dec. 31, 2016
Note Payable Details Narrative
Notes payable	$ 27,500	$ 20,000	$ 7,500	$ 0
Notes bear an interest rate		40.00%	40.00%

RELATED TRANSACTIONS (Details N

RELATED TRANSACTIONS (Details Narrative) - USD ($)	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Due to related parties	$ 75,279	$ 8,273
Previous Related Party Directors [Member]
Amount of loan provided for operational expenses	10,834
Previous Related Party Directors Two [Member]
Amount of loan provided for operational expenses	21,107
CEO [Member]
Amount of loan provided for operational expenses	49,825
Related party loan forgiven	14,807
Former Officer [Member]
Amount of loan provided for operational expenses	1,082
Repayment of related party loan	$ 8,009