Luckwel Pharmaceuticals (LWEL) 10-K 1 Jun 15 2015 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Feb. 28, 2015	26-May-15
Document And Entity Information
Entity Registrant Name	LUCKYCOM INC
Entity Central Index Key	1567098
Document Type	10-K
Document Period End Date	28-Feb-15
Amendment Flag	FALSE
Current Fiscal Year End Date	-26
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float		$0
Entity Common Stock, Shares Outstanding		10,500,000
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2015

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Feb. 28, 2015	Feb. 28, 2014
Current assets
Cash and cash equivalents	$48,286	$94,320
Other asset
Drug license, net of $45,833 amortization	9,167	36,667
TOTAL ASSETS	57,453	130,987
Current Liabilities
Accounts payable and accrued expenses	2,314	10,308
Due to officer	390,466	191,851
Total Liabilities	392,780	202,159
Stockholders' Deficit
Common stock, $0.01 par value, 100,000,000 shares authorized, 10,500,000 shares issued and outstanding	105,000	105,000
Additional paid in capital	86,000	86,000
Stock subscription receivable
Accumulated other comprehensive income	10	10
Accumulated deficit	-526,337	-262,182
Total Stockholders' Deficit	-335,327	-71,172
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$57,453	$130,987

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Feb. 28, 2015	Feb. 28, 2014
Statement of Financial Position [Abstract]
Drug license amortization	$45,833
Common Stock, par value	$0.01	$0.01
Common Stock, Shares Authorised	100,000,000	100,000,000
Common Stock, Shares Issued	10,500,000	10,500,000
Common Stock, Shares Outstanding	10,500,000	10,500,000

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	12 Months Ended
	Feb. 28, 2015	Feb. 28, 2014
Income Statement [Abstract]
GENERAL AND ADMINISTRATIVE EXPENSES	($265,105)	($224,603)
OTHER NET INCOME	950
NET LOSS	($264,155)	($224,603)
NET LOSS PER SHARE: BASIC AND DILUTED	($0.03)	($0.02)
WEIGHTED AVERAGE SHARES OUTSTANDING: BASIC AND DILUTED	10,500,000	10,330,137

CONSOLIDATED_STATEMENT_OF_STOC

CONSOLIDATED STATEMENT OF STOCKHOLDERS DEFICIT (USD $)	Common Stock	Additional Paid-In Capital	Stock subscription receivable	Accumulated other Comprehensive Income (Loss)	Deficit Accumulated	Total
Beginning Balance at Feb. 28, 2013	$100,000	$36,000	($136,000)	$10	($37,579)	($37,579)
Beginning Balance (in shares) at Feb. 28, 2013	10,000,000
Issuance of common stock for cash	5,000	50,000				55,000
Issuance of common stock for cash (in shares)	500,000
Collection of subscriptions receivable			136,000			136,000
Net loss and other comprehensive income					-224,603	-224,603
Ending Balance at Feb. 28, 2014	105,000	86,000		10	-262,182	-71,172
Ending Balance (in shares) at Feb. 28, 2014	10,500,000					10,500,000
Collection of subscriptions receivable
Net loss and other comprehensive income					-264,155	-264,155
Ending Balance at Feb. 28, 2015	$105,000	$86,000		$10	($526,337)	($526,337)
Ending Balance (in shares) at Feb. 28, 2015	10,500,000					10,500,000

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	12 Months Ended
	Feb. 28, 2015	Feb. 28, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss for the period	($264,155)	($224,603)
Amortization of drug license	27,500	18,333
Changes in assets and liabilities:
Increase (decrease) in accounts payable	-9,344	9,344
Increase (decrease) in accrued expenses	1,350	-9,436
Net Cash Used in Operating Activities	-244,649	-206,362
CASH FLOWS FROM FINANCING ACTIVITIES
Cash received from collection of stock subscriptions		136,000
Loans from officer	198,615	164,682
Net Cash Provided by Financing Activities	198,615	300,682
Exchange rate effect on cash
Net Increase in Cash and Cash Equivalents	-46,034	94,320
Cash and cash equivalents, beginning of period	94,320
Cash and cash equivalents, end of period	48,286	94,320
SUPPLEMENTAL CASH FLOW INFORMATION:
Interest paid
Income taxes paid
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING INFORMATION:
Drug license acquire for common shares		$55,000

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Feb. 28, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 –SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Organization and Description of Business
	Luckycom, Inc. (“the Company” or “Lucky”) was incorporated under the laws of the State of Nevada on January 2, 2013. The Company plan to be in the business of manufacturing, marketing, distributing and selling pharmaceutical medicines in developing countries. Lucky plans to spread its operations throughout Asia and other developing countries as resources permit.
	Basis of Presentation
	The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars (“USD”).
	Cash and Cash Equivalents
	The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company had $48,286 and $94,320 of cash as of February 28, 2015 and February 28, 2014, respectively.
	Fair Value of Financial Instruments
	The Company’s financial instruments consist of cash and cash equivalents, accrued expenses and loans payable to an officer. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements.
	Income Taxes
	Income taxes are computed using the asset and liability method.  Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws.  A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.
	Use of Estimates
	The preparation of financial statements in conformity with generally accepted accounting principles 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 the financial statements and the reported amount of revenues and expenses during the reporting period.  Actual results could differ from those estimates.
	Revenue Recognition
	The Company recognizes revenue when products are fully delivered or services have been provided and collection is reasonably assured.
	Stock-Based Compensation
	Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718.  To date, the Company has not adopted a stock option plan and has not granted any stock options.
	Basic Income (Loss) Per Share
	Basic income (loss) per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company’s net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are no such common stock equivalents outstanding as of February 28, 2015.
	Comprehensive Income
	The Company has which established standards for reporting and display of comprehensive income, its components and accumulated balances.  When applicable, the Company would disclose this information on its Statement of Stockholders’ Equity.  Comprehensive income comprises equity except those resulting from investments by owners and distributions to owners. The Company has not had any significant transactions that are required to be reported in other comprehensive income.
	Foreign Currency Translation
	The Company is based in Hong Kong although it is incorporated in Nevada. The functional currency of the Company is the Hong Kong Dollar and is translated to U.S. dollars using the exchange rate effective for the date reported for assets and liabilities and the average exchange rate for the period reported for revenues and expenses.
	Recent Accounting Pronouncements
	Lucky does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flow.

GOING_CONCERN

GOING CONCERN	12 Months Ended
	Feb. 28, 2015
Notes to Financial Statements
GOING CONCERN	NOTE 2 – GOING CONCERN
	The financial statements have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future.  The Company has incurred losses since inception resulting in an accumulated deficit of $526,337 as of February 28, 2015 and further losses are anticipated in the development of its business raising substantial doubt about the Company’s ability to continue as a going concern.  The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with existing cash on hand and loans from directors and or private placement of common stock.

LOANS_PAYABLE_RELATED_PARTY

LOANS PAYABLE - RELATED PARTY	12 Months Ended
	Feb. 28, 2015
Payables and Accruals [Abstract]
LOANS PAYABLE - RELATED PARTY	NOTE 3 – LOANS PAYABLE – RELATED PARTY
	An officer and shareholder loaned a net of $198,615 to the Company during the year ended February 28, 2015 and is owed a total of $390,466 as of February 28, 2015. The amounts are unsecured, non-interest bearing and due on demand.

CAPITAL_STOCK

CAPITAL STOCK	12 Months Ended
	Feb. 28, 2015
Equity [Abstract]
CAPITAL STOCK	NOTE 4 – CAPITAL STOCK
	On January 3, 2013, the Company issued 9,600,000 shares to its founder at par value for a subscription receivable of $96,000.  In January 2013, the Company issued 400,000 shares of common stock to 33 investors at $0.10 per share for a subscription receivable of $40,000. These amounts were collected in March 2013.
	On July 3, 2013, the Company issued 500,000 common shares to acquire a drug license.

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Feb. 28, 2015
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 5 – RELATED PARTY TRANSACTIONS
	The Company had an oral agreement with its officer and director that required monthly fees of approximately $35,000 Hong Kong Dollar or approximately $4,520 USD. The agreement terminated on June 30, 2013, and an employment agreement was entered into at that time providing for officer compensation of approximately $10,000 USD per month. Total officer compensation was $97,129 for the year ended February 28, 2014 and $120,000 for the year ended February 28, 2015.
	The Company entered into a custodian agreement with a party whose CEO is a shareholder and officer of Lucky.  The agreement required monthly payments of $5,200 and was terminated at the end of June, 2013.  For the year ended February 28, 2014, expense under this agreement was $20,800.
	On July 3, 2013, the Company entered into a license agreement, which was amended on July 30, 2013 and again on October 15, 2013, with Luckycom Pharma Pte. Ltd. based out of Singapore and acquired the exclusive and worldwide rights to manufacture, have manufactured, distribute, sell, market and promote the antimalarial medicine Cosunate (artesunate-amodiaquine kit tablets). The Company’s CEO is a director and shareholder of Luckycom Pharma. The Company issued Luckycom Pharma 500,000 shares of its common stock valued at $0.11 per share for the two year license. Under the agreement, the Company also acquired an option to purchase Cosunate intellectual property from Luckycom Pharma for 9,000,000 shares of its common stock.

COMMITMENTS

COMMITMENTS	12 Months Ended
	Feb. 28, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS	NOTE 6 – COMMITMENTS
	The Company entered into a lease for office space on October 1, 2014.  The lease runs through September 30, 2016 with monthly rent of HK $21,000/month (almost US $ 2,699/month.
	The Company entered into an agreement with a consultant to assist with the initial filing of the registration statement. An initial payment of $10,000 was required with an additional $10,000 due and payable once the SEC approves the Company’s S-1 registration statement and another $10,000 due and payable once FINRA issues the Company their ticker symbol and trading status has been achieved.
	The Company entered into an employment agreement with an officer and shareholder. See Note 5.
	The Company entered into a custodian agreement with a party whose CEO is a shareholder and officer of Lucky.  The agreement required monthly payments of $5,200.  See Note 5.
	The Company entered into a license agreement and related amendments. See Note 5.

INCOME_TAXES

INCOME TAXES	12 Months Ended
	Feb. 28, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 7 – INCOME TAXES
	As of February 28, 2015, the Company had net operating loss carry forwards of $526,337 that may be available to reduce future years’ taxable income in varying amounts through 2034. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards.
	The approximate cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows as of February 28, 2015:
		28-Feb-15			28-Feb-14
	Federal income tax benefit attributable to:
	Current Operations	$	178,954		$	79,000
	Less: valuation allowance		(178,954	)		(79,000	)
	Net provision for Federal income taxes	$	0		$	0

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Feb. 28, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 8 – SUBSEQUENT EVENTS
	In accordance with ASC 855-10, the Company has analyzed its operations subsequent to February 28, 2015 to the date these financial statements were issued, and has determined that it does not have any material subsequent events to disclose in these financial statements.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Feb. 28, 2015
Accounting Policies [Abstract]
Organization and Description of Business	Organization and Description of Business
	Luckycom, Inc. (“the Company” or “Lucky”) was incorporated under the laws of the State of Nevada on January 2, 2013. The Company plan to be in the business of manufacturing, marketing, distributing and selling pharmaceutical medicines in developing countries. Lucky plans to spread its operations throughout Asia and other developing countries as resources permit.
Basis of Presentation	Basis of Presentation
	The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars (“USD”).
Cash and Cash Equivalents	Cash and Cash Equivalents
	The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company had $48,286 and $94,320 of cash as of February 28, 2015 and February 28, 2014, respectively.
Fair Value of Financial Instruments	Fair Value of Financial Instruments
	The Company’s financial instruments consist of cash and cash equivalents, accrued expenses and loans payable to an officer. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements.
Income Taxes	Income Taxes
	Income taxes are computed using the asset and liability method.  Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws.  A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.
Use of Estimates	Use of Estimates
	The preparation of financial statements in conformity with generally accepted accounting principles 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 the financial statements and the reported amount of revenues and expenses during the reporting period.  Actual results could differ from those estimates.
Revenue Recognition	Revenue Recognition
	The Company recognizes revenue when products are fully delivered or services have been provided and collection is reasonably assured.
Stock-Based Compensation	Stock-Based Compensation
	Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718.  To date, the Company has not adopted a stock option plan and has not granted any stock options.
Basic Income (Loss) Per Share	Basic Income (Loss) Per Share
	Basic income (loss) per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company’s net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are no such common stock equivalents outstanding as of February 28, 2015.
Comprehensive Income	Comprehensive Income
	The Company has which established standards for reporting and display of comprehensive income, its components and accumulated balances.  When applicable, the Company would disclose this information on its Statement of Stockholders’ Equity.  Comprehensive income comprises equity except those resulting from investments by owners and distributions to owners. The Company has not had any significant transactions that are required to be reported in other comprehensive income.
Foreign Currency Translation	Foreign Currency Translation
	The Company is based in Hong Kong although it is incorporated in Nevada. The functional currency of the Company is the Hong Kong Dollar and is translated to U.S. dollars using the exchange rate effective for the date reported for assets and liabilities and the average exchange rate for the period reported for revenues and expenses.
Recent Accounting Pronouncements	Recent Accounting Pronouncements
	Lucky does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flow.

INCOME_TAXES_Tables

INCOME TAXES (Tables)	12 Months Ended
	Feb. 28, 2015
Income Taxes Tables
Schedule of effective income tax rate reconciliation	The approximate cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows as of February 28, 2015:
		28-Feb-15			28-Feb-14
	Federal income tax benefit attributable to:
	Current Operations	$	178,954		$	79,000
	Less: valuation allowance		(178,954	)		(79,000	)
	Net provision for Federal income taxes	$	0		$	0

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) (USD $)	Feb. 28, 2015	Feb. 28, 2014	Feb. 28, 2013
Summary Of Significant Accounting Policies Details Narrative
Cash and cash equivalents	$48,286	$94,320

GOING_CONCERN_Details_Narrativ

GOING CONCERN (Details Narrative) (USD $)	Feb. 28, 2015	Feb. 28, 2014
Notes to Financial Statements
Accumulated Deficit	$526,337	$262,182

LOANS_PAYABLE_RELATED_PARTY_De

LOANS PAYABLE - RELATED PARTY (Details Narrative) (USD $)	12 Months Ended
	Feb. 28, 2015	Feb. 28, 2014
Payables and Accruals [Abstract]
Officer and shareholder loan	$198,615	$164,682
Total Loan	$390,466	$191,851

CAPITAL_STOCK_Details_Narrativ

CAPITAL STOCK (Details Narrative) (USD $)	Feb. 28, 2015	Feb. 28, 2014	Jul. 03, 2013	Jan. 03, 2013	Jan. 31, 2013
Common Shares Issued	10,500,000	10,500,000
Common Stock Subscription Receiveble	$105,000	$105,000
Common Stock Par value	$0.01	$0.01
Drug License [Member]
Common Shares Issued			500,000
Founder [Member]
Common Shares Issued				9,600,000
Common Stock Subscription Receiveble				96,000
Investor [Member]
Common Shares Issued					400,000
Common Stock Subscription Receiveble					$40,000
Common Stock Par value					$0.01

RELATED_PARTY_TRANSACTIONS_Det

RELATED PARTY TRANSACTIONS (Details Narrative) (USD $)	12 Months Ended		1 Months Ended
	Feb. 28, 2015	Feb. 28, 2014	Jun. 30, 2013
Officer Compensation	$120,000	$97,129
Officer And Director [Member]
Monthly Fees			$4,520

COMMITMENTS_Details_Narrative

COMMITMENTS (Details Narrative) (USD $)	1 Months Ended
	Oct. 31, 2014
Commitments Details Narrative
Monthly Rent	$2,699

INCOME_TAXES_Details_Narrative

INCOME TAXES (Details Narrative) (USD $)	12 Months Ended
	Feb. 28, 2015	Feb. 28, 2014
Income Taxes Details Narrative
Net Operating Loss	$526,337	$262,182
Cumulative Tax Effect at the Expected Rate	34.00%

INCOME_TAXES_Details

INCOME TAXES (Details) (USD $)	12 Months Ended
	Feb. 28, 2015	Feb. 28, 2014
Income Taxes Details
Current Operations	$178,954	$79,000
Less: valuation allowance	-178,954	-79,000
Net provision for Federal income taxes