Bioscience Neutraceuticals (DEVV) 10-Q 14 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 10, 2018
Document And Entity Information [Abstract]
Entity Registrant Name	JOBLOCATIONMAP INC
Entity Central Index Key	1,555,995
Trading Symbol	jbct
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		9,700,000
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Amendment Flag	false
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Current Assets
Cash and cash equivalents	$ 4,767	$ 1,488
Inventory	5,517	3,201
Total Current Assets	10,284	4,689
Goodwill	0	0
Total Assets	10,284	4,689
Current Liabilities
Accounts payable and accrued liabilities	12,346	8,576
Due to related parties	85,279	75,279
Convertible notes	22,878	22,878
Notes payable	27,500	27,500
Total Current Liabilities	148,003	134,233
Long-term note payable	3,957
Total Liabilities	151,960	134,233
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 shares issued and outstanding, respectively	970	970
Additional paid-in capital	114,215	114,215
Accumulated deficit	(256,861)	(244,729)
Total Stockholders' Deficit	(141,676)	(129,544)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 10,284	$ 4,689

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
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	9,700,000
Common Stock, shares outstanding	9,700,000	9,700,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
Revenues	$ 2,287
Cost of Goods Sold	4,754
Gross Profit	(2,467)
Operating Expenses
General and administration	2,195	$ 1,233
Professional	1,738	2,500
Total operating expenses	3,933	3,733
Net loss from operations	(6,400)	(3,733)
Other expense
Interest expense	(5,732)
Total other expense	(5,732)
Net loss before taxes	(12,132)	(3,733)
Provision for income taxes	0	0
Net loss	$ (12,132)	$ (3,733)
Net Loss Per Common Share - Basic and Diluted (in dollars per share)	$ 0	$ 0
Weighted Average Common Shares Outstanding (in shares)	9,700,000	9,500,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash Flows from Operating Activities:
Net loss	$ (12,132)	$ (3,733)
Changes in operating assets and liabilities:
Inventory	(2,316)
Accounts payable and accrued liabilities	3,770	1,733
Net Cash Used in Operating Activities	(10,678)	(2,000)
Cash Flows from Financing Activities:
Loan from related parties	10,000	2,000
Proceeds from notes payable	3,957
Net Cash Provided By Financing Activities	13,957	2,000
Net Increase in Cash and Cash Equivalents	3,279
Cash and Cash Equivalents, beginning of period	1,488
Cash and Cash Equivalents, end of period	4,767
Supplemental Disclosure Information:
Cash paid for interest	0	0
Cash paid for taxes	$ 0	$ 0

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND DESCRIPTION OF BUSINESS	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	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	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, 2017, filed with the Securities and Exchange Commission. 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. Revenue Recognition The Company recognizes revenue from the sale of products in accordance with ASC 605, “ Revenue Recognition.” i) Persuasive evidence for an agreement exists; ii) Service has been provided; iii) The fee is fixed or determinable; and iv) Collection is reasonably assured. Under these criteria, this generally means that the Company recognizes revenue when its products are delivered to customers in accordance with the sales terms. May 2014, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) jointly issued a converged standard, Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers (Topic 606). Topic 606 addresses the recognition of revenue based upon the payment and performance obligations of the seller and buyer. Since the Company sells products with no contingent payment obligations and no obligations on its part subsequent to the delivery of products, the Company does not believe that Topic 606 will affect the manner in which it recognizes revenue. Cost of Goods Sold Cost of goods sold includes the following expenses; inventory and various expenses related to sell the products through third party services. 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 March 31, 2018, the Company determined that no reserve was required.

GOING CONCERN

GOING CONCERN	3 Months Ended
	Mar. 31, 2018
Going Concern [Abstract]
GOING CONCERN	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	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
EQUITY	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 March 31, 2018, and December 31, 2017, 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 shares of common stock were issued and outstanding as of March 31, 2018 and December 31, 2017.

NOTE PAYABLE

NOTE PAYABLE	3 Months Ended
	Mar. 31, 2018
Notes Payable [Abstract]
NOTE PAYABLE	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. During the three months ended March 31, 2018, the Company recognized interest expense of $740. 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. During the three months ended March 31, 2018, the Company recognized interest expense of $1,970. On March 31, 2018, the Company issued note payable of $3,957 to a third party. The note is a 57% interest bearing promissory note that is payable on March 31, 2023. As of March 31, 2018, and December 31, 2017, the Company owed notes payable of $27,500 and $27,500, Long-term note payable of $3,957 and $0 and accrued interest of $7,468 and $4,758, respectively.

CONVERTIBLE NOTE PAYABLE

CONVERTIBLE NOTE PAYABLE	3 Months Ended
	Mar. 31, 2018
Convertible Notes Payable [Abstract]
CONVERTIBLE NOTE PAYABLE	NOTE 6 – CONVERTIBLE NOTE PAYABLE On December 31, 2017, the Company issued a convertible note of $4,875 with a conversion price of $0.01. The convertible note is unsecured, bears interest at 57% per annum, has no maturity date and due on demand. The Company recorded a discount on the convertible note due to a beneficial conversion feature of $4,875 and amortized $4,875 for the year ended December 31, 2017. As of March 31, 2018, and December 31, 2017, the Company had a convertible note of $4,875 and accrued interest of $693 and $8 respectively. During the three months ended March 31, 2018, the Company recognized interest expense of $685. On December 31, 2017, the Company issued a convertible note of $6,803 with a conversion price of $0.01. The convertible note is unsecured, bears interest at 57% per annum, has no maturity date and due on demand. The Company recorded a discount on the convertible note due to a beneficial conversion feature of $6,803 and amortized $6,803 for the year ended December 31, 2017. As of March 31, 2018, and December 31, 2017, the Company had a convertible note of $6,803 and accrued interest of $967 and $11. During the three months ended March 31, 2018, the Company recognized interest expense of $956. On December 31, 2017, the Company issued a convertible note of $11,200 with a conversion price of $0.005. The convertible note is unsecured, bears interest at 50% per annum, has no maturity date and due on demand. The Company recorded a discount on the convertible note due to a beneficial conversion feature of $11,200 and amortized $11,200 for the year ended December 31, 2017. As of March 31, 2018, and December 31, 2017, the Company had a convertible note of $11,200 and accrued interest of $1,396 and $15. During the three months ended March 31, 2018, the Company recognized interest expense of $1,381. As of March 31, 2018, and December 31, 2017, the Company owed convertible notes payable of $11,677 and accrued interest of $3,056 and $34, respectively

RELATED TRANSACTIONS

RELATED TRANSACTIONS	3 Months Ended
	Mar. 31, 2018
Related Party Transaction, Due from (to) Related Party [Abstract]
RELATED TRANSACTIONS	NOTE 7 – RELATED TRANSACTIONS Due to related parties During the three months ended March 31, 2018, the Company received loans from the previous Related Party Directors of $10,000 to pay for operating expenses. As of March 31, 2018 and December 31, 2017, related party loan payable outstanding is $85,279 and $75,279, respectively.

SUMMARY OF SIGNIFICANT ACCOUN13

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2018
Summary Of Significant Accounting Policies Abstract
Basis of Presentation	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, 2017, filed with the Securities and Exchange Commission.
Principles of Consolidation	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	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	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.
Revenue Recognition	Revenue Recognition The Company recognizes revenue from the sale of products in accordance with ASC 605, “ Revenue Recognition.” i) Persuasive evidence for an agreement exists; ii) Service has been provided; iii) The fee is fixed or determinable; and iv) Collection is reasonably assured. Under these criteria, this generally means that the Company recognizes revenue when its products are delivered to customers in accordance with the sales terms. May 2014, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) jointly issued a converged standard, Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers (Topic 606). Topic 606 addresses the recognition of revenue based upon the payment and performance obligations of the seller and buyer. Since the Company sells products with no contingent payment obligations and no obligations on its part subsequent to the delivery of products, the Company does not believe that Topic 606 will affect the manner in which it recognizes revenue.
Cost of Goods Sold	Cost of Goods Sold Cost of goods sold includes the following expenses; inventory and various expenses related to sell the products through third party services.
Inventory	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 March 31, 2018, the Company determined that no reserve was required.

ORGANIZATION AND DESCRIPTION 14

ORGANIZATION AND DESCRIPTION OF BUSINESS (Details Narrative) - shares	3 Months Ended
	Mar. 31, 2018	Jul. 10, 2017
Organization Consolidation And Presentation Of Financial Statements [Line Items]
State of incorporation	Nevada
Date of incorporation	Jun. 15, 2010
Bio Health Products Inc
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of shares exchanged for business acquisition		200,000

EQUITY (Details Narrative)

EQUITY (Details Narrative) - $ / shares	Mar. 31, 2018	Dec. 31, 2017	Jul. 10, 2017
Stockholders Equity Note [Line Items]
Common stock, shares authorized	100,000,000	100,000,000
Common 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, par value per share (in dollars per share)	$ 0.0001	$ 0.0001
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Common stock, shares issued	9,700,000	9,700,000
Common stock, shares outstanding	9,700,000	9,700,000
Bio Health Products Inc
Stockholders Equity Note [Line Items]
Number of shares exchanged for business acquisition			200,000

NOTE PAYABLE (Details Narrative

NOTE PAYABLE (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Aug. 14, 2017	Jun. 09, 2017
Note Payable [Line Items]
Notes payable	$ 27,500	$ 27,500	$ 20,000	$ 7,500
Notes bear an interest rate			40.00%	40.00%
Long-term note payable	3,957
Accrued interest	7,468	$ 4,758
June 9, 2017
Note Payable [Line Items]
Interest expense	740
August 14, 2017
Note Payable [Line Items]
Interest expense	1,970
March 31, 2023
Note Payable [Line Items]
Notes payable	$ 3,957
Notes bear an interest rate	57.00%

CONVERTIBLE NOTE PAYABLE (Detai

CONVERTIBLE NOTE PAYABLE (Details Narrative) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Short-term Debt [Line Items]
Issuance of convertible note	$ 11,677
Accrued interest	3,056	$ 34
Convertible notes payable
Short-term Debt [Line Items]
Issuance of convertible note		$ 4,875
Conversion price		$ 0.01
Interest rate per annum		57.00%
Beneficial conversion feature		$ 4,875
Debt amortized		4,875
Convertible note	4,875	4,875
Accrued interest	693	8
Interest expense	685
Convertible notes payable one
Short-term Debt [Line Items]
Issuance of convertible note		$ 6,803
Conversion price		$ 0.01
Interest rate per annum		57.00%
Beneficial conversion feature		$ 6,803
Debt amortized		6,803
Convertible note	6,803	6,803
Accrued interest	967	11
Interest expense	956
Convertible notes payable two
Short-term Debt [Line Items]
Issuance of convertible note		$ 11,200
Conversion price		$ 0.005
Interest rate per annum		50.00%
Beneficial conversion feature		$ 11,200
Debt amortized		11,200
Convertible note	11,200	11,200
Accrued interest	1,396	$ 15
Interest expense	$ 1,381

RELATED TRANSACTIONS (Details N

RELATED TRANSACTIONS (Details Narrative) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Due to related parties	$ 85,279	$ 75,279
Directors
Related Party Transaction [Line Items]
Amount of loan provided for operational expenses	$ 10,000