Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Dec. 31, 2018 | Feb. 06, 2019 | |
Document And Entity Information | ||
Entity Registrant Name | Perkins Oil & Gas, Inc. | |
Entity Central Index Key | 1,567,802 | |
Document Type | 10-Q | |
Document Period End Date | Dec. 31, 2018 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --06-30 | |
Is Entity's Reporting Status Current? | Yes | |
Trading Symbol | ooil | |
Entity Filer Category | Non-accelerated Filer | |
Entity Common Stock, Shares Outstanding | 29,770,241 | |
Document Fiscal Year Focus | 2,019 | |
Document Fiscal Period Focus | Q2 | |
Entity Emerging Growth Company | true | |
Entity Small Business | true | |
Entity Ex Transition Period | false |
BALANCE SHEETS
BALANCE SHEETS - USD ($) | Dec. 31, 2018 | Jun. 30, 2018 |
Current Assets | ||
Cash and cash equivalents | $ 304 | |
Total Current Assets | 304 | |
TOTAL ASSETS | 304 | |
Current Liabilities | ||
Bank indebtedness | 68 | |
Accounts payable and accrued liabilities | 9,413 | 8,798 |
Due to related party | 5,603 | 5,603 |
Accrued interest payable | 22,279 | 12,765 |
Promissory notes payable | 65,928 | 49,351 |
Total Current Liabilities | 103,291 | 76,517 |
Long Term Liabilities | ||
Convertible notes payable, net of discount amortization of $0 | 10,000 | |
Total Long Term Liabilities | 10,000 | |
Total Liabilities | 103,291 | 86,517 |
STOCKHOLDERS' DEFICIT | ||
Common stock, $0.001 par value, 75,000,000 shares authorized; 29,770,241 shares and 27,270,241 shares issued and outstanding as of December 31, 2018 and June 30, 2018 | 29,770 | 27,270 |
Additional paid-in capital | 23,062,570 | 23,050,491 |
Accumulated deficit | (23,195,631) | (23,163,974) |
Total stockholders' deficit | (103,291) | (86,213) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 304 |
BALANCE SHEETS (Parenthetical)
BALANCE SHEETS (Parenthetical) - USD ($) | Dec. 31, 2018 | Jun. 30, 2018 |
Long Term Liabilities | ||
Convertible notes payable, amortization discount amount | $ 0 | $ 0 |
STOCKHOLDERS' DEFICIT | ||
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 75,000,000 | 75,000,000 |
Common stock, shares issued | 29,770,241 | 27,270,241 |
Common stock, shares outstanding | 29,770,241 | 27,270,241 |
STATEMENTS OF OPERATIONS (Unaud
STATEMENTS OF OPERATIONS (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statements Of Operations | ||||
REVENUES | ||||
OPERATING EXPENSES | ||||
General and administrative | 585 | 3,306 | 1,573 | 5,439 |
Professional fees | 5,014 | 19,726 | 15,991 | 27,379 |
Total operating expenses | 5,599 | 23,032 | 17,564 | 32,818 |
LOSS FROM OPERATIONS | (5,599) | (23,032) | (17,564) | (32,818) |
OTHER EXPENSES | ||||
Interest expense | (7,588) | (1,261) | (14,093) | (2,288) |
TOTAL OTHER EXPENSES | (7,588) | (1,261) | (14,093) | (2,288) |
Provision for income taxes | ||||
NET LOSS | $ (13,187) | $ (24,293) | $ (31,657) | $ (35,106) |
Basic and Diluted Loss per Common Share | $ 0 | $ (0.09) | $ 0 | $ (0.13) |
Basic and Diluted Weighted Average Common Shares Outstanding | 29,770,241 | 270,000 | 29,416,980 | 270,000 |
STATEMENTS OF CASH FLOWS (Unaud
STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 6 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (31,657) | $ (35,106) |
Changes in operating assets and liabilities: | ||
Bank indebtedness | 68 | |
Accounts payable and accrued liabilities | 615 | 5,939 |
Accrued interest payable | 14,093 | 2,288 |
Net cash used in operating activities | (16,881) | (26,879) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Lease cost on oil and gas property | (5,483) | |
Net cash used in investing activities | (5,483) | |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from issuance of notes payable | 16,577 | 32,690 |
Net cash provided by financing activities | 16,577 | 32,690 |
Net increase (decrease) in cash and cash equivalents | (304) | 328 |
Cash and cash equivalents - beginning of period | 304 | |
Cash and cash equivalents - end of period | 328 | |
Supplemental Cash Flow Disclosures | ||
Cash paid for interest | ||
Cash paid for income taxes | ||
Non-cash investing and financing transactions | ||
Shares issued for conversion of convertible notes | $ 14,579 |
NATURE OF OPERATIONS AND BASIS
NATURE OF OPERATIONS AND BASIS OF PRESENTATION | 6 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
NOTE 1 - NATURE OF OPERATIONS AND BASIS OF PRESENTATION | Perkins Oil & Gas, Inc. (“The Company”) was incorporated in the State of Nevada on May 25, 2012 and established a fiscal year end of June 30. The Company intends to engage in the exploration and development of oil and gas properties. The Company’s activities to date have been limited to organization and capital. The Company is currently looking for new wells. In connection with the submission of a reverse stock split as previously announced on our Current Report on Form 8-K filed on February 1, 2018, our Company applied to change our ticker symbol from “PEKN” to “OOIL”. The change of ticker symbol become effective at the OTC Markets on February 28, 2018. Basis of Presentation The accompanying unaudited condensed financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the six months ended December 31, 2018 are not necessarily indicative of the results that may be expected for the year ending June 30, 2019. Notes to the unaudited condensed financial statements that would substantially duplicate the disclosures contained in the audited financial statements for fiscal year 2019 have been omitted. This report should be read in conjunction with the audited consolidated financial statements and the footnotes thereto for the fiscal year ended June 30, 2018 included in the Company’s Form 10-K as filed with the Securities and Exchange Commission on October 10, 2018. 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. The Company continually evaluates its estimates and judgments. The Company bases its estimates and judgments on historical experience and other factors that it believes to be reasonable under the circumstances. Materially different results can occur as circumstances change and additional information becomes known, even for estimates and judgments that are not deemed critical. 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 $NIL and $304 in cash as at December 31, 2018 and June 30, 2018, respectively. Related Party Balances and Transactions The Company follows FASB ASC 850, “ Related Party Disclosures Fair Value of Financial Instruments The Company adopted the provisions of ASC Topic 820, “Fair Value Measurements and Disclosures,” which defines fair value as used in numerous accounting pronouncements, establishes a framework for measuring fair value and expands disclosure of fair value measurements. The estimated fair value of certain financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and accrued expenses are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments. The carrying amounts of our short and long term credit obligations approximate fair value because the effective yields on these obligations, which include contractual interest rates taken together with other features such as concurrent issuances of warrants and/or embedded conversion options, are comparable to rates of returns for instruments of similar credit risk. ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value: Level 1 - quoted prices in active markets for identical assets or liabilities Level 2 - quoted prices for similar assets and liabilities in active markets or inputs that are observable Level 3 - inputs that are unobservable (for example cash flow modeling inputs based on assumptions) The recorded amounts of financial instruments, including cash equivalents, accounts payable, and notes payable approximate their market value as of December 31, 2018. Revenue Recognition Oil and gas sales result from undivided interests held by the Company in oil and gas properties and royalty revenues. Sales of oil and gas produced from oil and gas operations are recognized when the product is delivered to the purchaser and title transfers to the purchaser. Charges for gathering and transportation are included in production expenses. Revenue from royalties is recognized as they are earned, when collection is reasonably assured. Royalty revenue is recorded in the same period as the sales that generate the royalty payment. Stock-Based Compensation ASC 718, ”Compensation - Stock Compensation,” The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50, ”Equity - Based Payments to Non-Employees.” During the year ended June 30, 2018, the Company incurred stock-based compensation of $22,950,000 for the issuance of 27,000,000 shares of common stock to the newly appointed Executive for CEO, CFO and Director services. <see Note 5> Oil and Gas Properties Oil and gas acquisition expenditures are accounted for in accordance with the successful efforts method of accounting. Direct costs incurred for finding oil and natural gas reserves, are initially capitalized until the properties are evaluated and determined to be either productive or nonproductive. Such evaluations are made on a periodic basis. If an exploratory well is determined to be nonproductive, the costs will be charged to expense. Basic and Diluted Income (Loss) Per Share The Company computes income (loss) per share in accordance with FASB ASC 260, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. No potentially dilutive debt or equity instruments were issued or outstanding during the six months ended December 31, 2018 and December 31, 2017. Recent Accounting Pronouncements The Company has reviewed and analyzed the above recent accounting pronouncements, and notes no material impact on the financial statements as of December 31, 2018. Adoption of New Accounting Standards We have adopted the following recent accounting pronouncement in these financial statements with no significant impact on reported financial position, results of operations or cash flow: ASU 2014-09, Revenue We adopted the standard as of January 1, 2018 using the modified retrospective approach applied to all contracts that were not completed at adoption based on the contract terms in existence at adoption. No adjustment was required to beginning retained earnings as a result of this adoption and none of the enhanced revenue-related disclosures were required. |
GOING CONCERN
GOING CONCERN | 6 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
NOTE 2 - GOING CONCERN | The Company’s financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern. This contemplates the realization of assets and the liquidation of liabilities in the normal course of business. Currently, the Company has a working capital deficit of $103,291 and an accumulated deficit of $23,195,631. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations. In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking equity and/or debt financing. However management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. |
PROMISSORY NOTE PAYABLE
PROMISSORY NOTE PAYABLE | 6 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
NOTE 3 - PROMISSORY NOTE PAYABLE | The Company had had the following principal balances under its promissory notes outstanding as December 31, 2018 and June 30, 2018: December 31, June 30 2018 2018 Promissory Note - December 2017 $ 22,690 $ 22,690 Promissory Note - February 2018 11,953 11,953 Promissory Note -June 2018 14,708 14,708 Promissory Note -September 2018 8,586 - Promissory Note -December 2018 7,991 - 65,928 49,351 Less current portion of promissory note payable (65,928 ) (49,351 ) Long-term promissory note payable $ - $ - On July 17, 2017, the Company issued a demand promissory note to an unaffiliated party for cash proceed of $10,000. The note bears interest rate at 50% per annum and is due on demand. On June 16, 2018, the Company replaced the promissory note held by a non-affiliated assignee with two convertible notes at principal amount of $5,000, for total note principal amount of $10,000. (See Note 5) On December 31, 2017, the Company issued a demand promissory note of $22,690 to an unaffiliated party payment of operating expenses on behalf of the Company. The note bears interest rate at 55% per annum and is due on demand. As of December 31, 2018, the accrued interest on the note was $12,480. On February 28, 2018, the Company issued a demand promissory note of $11,953 to an unaffiliated party for cash proceed of $8,000 and for payment of $3,953 operating expenses on behalf of the Company. The note bears interest rate at 50% per annum and is due on demand. As of December 31, 2018, the accrued interest on the note was $5,010. On June 30, 2018, the Company issued a demand promissory note of $14,708 to an unaffiliated party for payment of operating expenses on behalf of the Company. The note bears interest rate at 50% per annum and is due on demand. As of December 31, 2018, the accrued interest on the note was $3,707. On September 30, 2018, the Company issued a demand promissory note of $8,586 to an unaffiliated party for payment of operating expenses on behalf of the Company. The note bears interest rate at 50% per annum and is due on demand. As of December 31, 2018, the accrued interest on the note was $1,082. On December 31, 2018, the Company issued a demand promissory note of $7,991 to an unaffiliated party for payment of operating expenses on behalf of the Company. The note bears interest rate at 50% per annum and is due on demand. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 6 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
NOTE 4 - RELATED PARTY TRANSACTIONS | As of December 31, 2018 and June 30, 2018, the amount due to the former Company’s Chief Office for payment of operating expenses on behalf of the Company was $5,603 and $5,603, respectively. |
STOCKHOLDERS EQUITY
STOCKHOLDERS EQUITY | 6 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
NOTE 5 - STOCKHOLDERS EQUITY | The Company has authorized 75,000,000 shares with a par value $0.001 per share. On December 18, 2017, our board of directors and a majority stockholders of our company approved the implementation of a one-for-twenty-five (1:25) reverse stock split of all of our company’s issued and outstanding common stock. As a result of the reverse stock split, every twenty-five (25) shares of the issued and outstanding common stock of the Company will be converted into one (1) share of common stock. All fractional shares created by the Reverse Stock Split will be rounded up to the nearest whole share. The number of our company’s authorized shares of common stock remains unchanged. The reverse stock split has been reviewed by the Financial Industry Regulatory Authority (FINRA) and has been approved for filing with an effective date of February 1, 2018. The outstanding shares have been restated retroactively. On February 28, 2018, the Company issued 27,000,000 common shares valued at $22,950,000 to the newly appointed Executive for CEO, CFO and Director services for year 2018. On July 27, 2018, the Company issued 2,500,000 shares of common stock for the conversion of convertible notes in the aggregate principal amount of $10,000 and accrued interest of $4,579. As of December 31, 2018 and June 30, 2018, the Company has 29,770,241 and 27,270,241 common shares issued and outstanding, respectively. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 6 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
NOTE 6 - SUBSEQUENT EVENTS | Management has evaluated subsequent events through the date these unaudited condensed financial statements were available to be issued. Based on our evaluation no material events have occurred that require disclosure. |
NATURE OF OPERATIONS AND BASI_2
NATURE OF OPERATIONS AND BASIS OF PRESENTATION (Policies) | 6 Months Ended |
Dec. 31, 2018 | |
Nature Of Operations And Basis Of Presentation Policies Abstract | |
Basis of presentation | The accompanying unaudited condensed financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the six months ended December 31, 2018 are not necessarily indicative of the results that may be expected for the year ending June 30, 2019. Notes to the unaudited condensed financial statements that would substantially duplicate the disclosures contained in the audited financial statements for fiscal year 2019 have been omitted. This report should be read in conjunction with the audited consolidated financial statements and the footnotes thereto for the fiscal year ended June 30, 2018 included in the Company’s Form 10-K as filed with the Securities and Exchange Commission on October 10, 2018. |
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. The Company continually evaluates its estimates and judgments. The Company bases its estimates and judgments on historical experience and other factors that it believes to be reasonable under the circumstances. Materially different results can occur as circumstances change and additional information becomes known, even for estimates and judgments that are not deemed critical. |
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 $NIL and $304 in cash as at December 31, 2018 and June 30, 2018, respectively. |
Related Party Balances and Transactions | The Company follows FASB ASC 850, “ Related Party Disclosures |
Fair Value of Financial Instruments | The Company adopted the provisions of ASC Topic 820, “Fair Value Measurements and Disclosures,” which defines fair value as used in numerous accounting pronouncements, establishes a framework for measuring fair value and expands disclosure of fair value measurements. The estimated fair value of certain financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and accrued expenses are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments. The carrying amounts of our short and long term credit obligations approximate fair value because the effective yields on these obligations, which include contractual interest rates taken together with other features such as concurrent issuances of warrants and/or embedded conversion options, are comparable to rates of returns for instruments of similar credit risk. ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value: Level 1 - quoted prices in active markets for identical assets or liabilities Level 2 - quoted prices for similar assets and liabilities in active markets or inputs that are observable Level 3 - inputs that are unobservable (for example cash flow modeling inputs based on assumptions) The recorded amounts of financial instruments, including cash equivalents, accounts payable, and notes payable approximate their market value as of December 31, 2018. |
Revenue Recognition | Oil and gas sales result from undivided interests held by the Company in oil and gas properties and royalty revenues. Sales of oil and gas produced from oil and gas operations are recognized when the product is delivered to the purchaser and title transfers to the purchaser. Charges for gathering and transportation are included in production expenses. Revenue from royalties is recognized as they are earned, when collection is reasonably assured. Royalty revenue is recorded in the same period as the sales that generate the royalty payment. |
Stock-Based Compensation | ASC 718, ”Compensation - Stock Compensation,” The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50, ”Equity - Based Payments to Non-Employees.” During the year ended June 30, 2018, the Company incurred stock-based compensation of $22,950,000 for the issuance of 27,000,000 shares of common stock to the newly appointed Executive for CEO, CFO and Director services. <see Note 5> |
Oil and Gas Properties | Oil and gas acquisition expenditures are accounted for in accordance with the successful efforts method of accounting. Direct costs incurred for finding oil and natural gas reserves, are initially capitalized until the properties are evaluated and determined to be either productive or nonproductive. Such evaluations are made on a periodic basis. If an exploratory well is determined to be nonproductive, the costs will be charged to expense. |
Basic and Diluted Income (Loss) Per Share | The Company computes income (loss) per share in accordance with FASB ASC 260, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. No potentially dilutive debt or equity instruments were issued or outstanding during the six months ended December 31, 2018 and December 31, 2017. |
Recent Accounting Pronouncements | The Company has reviewed and analyzed the above recent accounting pronouncements, and notes no material impact on the financial statements as of December 31, 2018. |
Adoption of New Accounting Standards | We have adopted the following recent accounting pronouncement in these financial statements with no significant impact on reported financial position, results of operations or cash flow: ASU 2014-09, Revenue We adopted the standard as of January 1, 2018 using the modified retrospective approach applied to all contracts that were not completed at adoption based on the contract terms in existence at adoption. No adjustment was required to beginning retained earnings as a result of this adoption and none of the enhanced revenue-related disclosures were required. |
PROMISSORY NOTE PAYABLE (Tables
PROMISSORY NOTE PAYABLE (Tables) | 6 Months Ended |
Dec. 31, 2018 | |
Promissory Note Payable | |
Schedule of promissory note payable | December 31, June 30 2018 2018 Promissory Note - December 2017 $ 22,690 $ 22,690 Promissory Note - February 2018 11,953 11,953 Promissory Note -June 2018 14,708 14,708 Promissory Note -September 2018 8,586 - Promissory Note -December 2018 7,991 - 65,928 49,351 Less current portion of promissory note payable (65,928 ) (49,351 ) Long-term promissory note payable $ - $ - |
NATURE OF OPERATIONS AND BASI_3
NATURE OF OPERATIONS AND BASIS OF PRESENTATION (Details Narrative) - USD ($) | 1 Months Ended | 6 Months Ended | 12 Months Ended | ||
Feb. 28, 2018 | Dec. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | |
State of Incorporation | Nevada | ||||
Date of Incorporation | May 25, 2012 | ||||
Cash and cash equivalents | $ 304 | $ 328 | |||
Executive [Member] | |||||
Shares issued for services, Shares | 27,000,000 | 27,000,000 | |||
Shares issued for services, Amount | $ 22,950,000 | $ 22,950,000 |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | Dec. 31, 2018 | Jun. 30, 2018 |
Going Concern Details Narrative Abstract | ||
Working capital deficit | $ (103,291) | |
Accumulated deficit | $ (23,195,631) | $ (23,163,974) |
PROMISSORY NOTE PAYABLE (Detail
PROMISSORY NOTE PAYABLE (Details) - USD ($) | Dec. 31, 2018 | Jun. 30, 2018 |
Promissory Note Payable | $ 65,928 | $ 49,351 |
Less current portion of promissory note payable | (65,928) | (49,351) |
Long-term promissory note payable | ||
Promissory Note Payable [Member] | ||
Promissory Note Payable | 22,690 | 22,690 |
Promissory Note Payable One [Member] | ||
Promissory Note Payable | 11,953 | 11,953 |
Promissory Note Payable Two [Member] | ||
Promissory Note Payable | 14,708 | 14,708 |
Promissory Note Payable Three [Member] | ||
Promissory Note Payable | 8,586 | |
Promissory Note Payable Four [Member] | ||
Promissory Note Payable | $ 7,991 |
PROMISSORY NOTE PAYABLE (Deta_2
PROMISSORY NOTE PAYABLE (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||
Jun. 16, 2018 | Feb. 28, 2018 | Jul. 17, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2017 | Sep. 30, 2018 | Jun. 30, 2018 | |
Accrued interest payable | $ 22,279 | $ 22,279 | $ 12,765 | |||||||
Proceeds from issuance of notes payable | 16,577 | $ 32,690 | ||||||||
Promissory Note Payable | 65,928 | 65,928 | $ 49,351 | |||||||
Operating expenses | 5,599 | $ 23,032 | 17,564 | $ 32,818 | ||||||
Unaffiliated Party One [Member] | ||||||||||
Accrued interest payable | $ 1,082 | $ 1,082 | ||||||||
Unaffiliated Party [Member] | ||||||||||
Interest rate on notes payable | 50.00% | 50.00% | 50.00% | 50.00% | ||||||
Accrued interest payable | $ 3,707 | $ 3,707 | ||||||||
Promissory Note Payable | 7,991 | 7,991 | $ 8,586 | $ 14,708 | ||||||
Unaffiliated Party [Member] | Promissory Note Payable One [Member] | ||||||||||
Accrued interest payable | $ 5,010 | $ 5,010 | ||||||||
Unaffiliated Party [Member] | Promissory Note Payable [Member] | ||||||||||
Interest rate on notes payable | 50.00% | 50.00% | 55.00% | 55.00% | ||||||
Accrued interest payable | $ 12,480 | $ 12,480 | ||||||||
Proceeds from issuance of notes payable | $ 8,000 | $ 10,000 | $ 22,690 | |||||||
Promissory Note Payable | 11,953 | |||||||||
Operating expenses | $ 3,953 | |||||||||
Non-affiliated [Member] | ||||||||||
Replacement of a promissory note by convertible notes | $ 10,000 | |||||||||
Non-affiliated [Member] | Promissory Note Payable One [Member] | ||||||||||
Replacement of a promissory note by convertible notes | 5,000 | |||||||||
Non-affiliated [Member] | Promissory Note Payable [Member] | ||||||||||
Replacement of a promissory note by convertible notes | $ 5,000 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | Dec. 31, 2018 | Jun. 30, 2018 |
Related Party Transactions | ||
Due to related party | $ 5,603 | $ 5,603 |
STOCKHOLDERS EQUITY (Details Na
STOCKHOLDERS EQUITY (Details Narrative) - USD ($) | 1 Months Ended | 6 Months Ended | 12 Months Ended | |
Jul. 27, 2018 | Feb. 28, 2018 | Dec. 31, 2018 | Jun. 30, 2018 | |
Common stock, shares authorized | 75,000,000 | 75,000,000 | ||
Common stock, par value | $ 0.001 | $ 0.001 | ||
Common stock, shares issued | 29,770,241 | 27,270,241 | ||
Common stock, shares outstanding | 29,770,241 | 27,270,241 | ||
Common stock for the conversion of convertible notes, Shares | 2,500,000 | |||
Common stock for the conversion of convertible notes, Amount | $ 10,000 | |||
Accrued interest | $ 4,579 | |||
Executive [Member] | ||||
Shares issued for services, Shares | 27,000,000 | 27,000,000 | ||
Shares issued for services, Amount | $ 22,950,000 | $ 22,950,000 | ||
Director [Member] | Common Stock [Member] | ||||
Reverse stock split description | the implementation of a one-for-twenty-five (1:25) reverse stock split of all of our company’s issued and outstanding common stock. As a result of the reverse stock split, every twenty-five (25) shares of the issued and outstanding common stock of the Company will be converted into one (1) share of common stock. |