Anvi Global (ANVI) 10-Q 15 Jul 19 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	May 31, 2019	Jul. 10, 2019
Document and Entity Information:
Entity Registrant Name	ANVI GLOBAL HOLDINGS, INC.
Document Type	10-Q
Document Period End Date	May 31, 2019
Amendment Flag	false
Entity Central Index Key	0001570132
Current Fiscal Year End Date	--02-28
Entity Common Stock Shares Outstanding		119,950,000
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Entity Shell Company	false
Is Entity Emerging Growth Company?	false
Entity Interactive Data Current	Yes
Entity Incorporation	NV
Entity File Number	333-188648
Entity's Reporting Status Current	Yes

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)	May 31, 2019	Feb. 28, 2019
Current Assets:
Cash	$ 69,656	$ 553
Prepaids	19,500	22,500
Prepaids, related party	50,000
Total Current Assets	139,156	23,053
Total Assets	139,156	23,053
LIABILITIES AND STOCKHOLDERS' EQUITY DEFICIT
Accounts payable	10,877	9,821
Accrued liabilities, related party	720,000	684,000
Deferred revenue	137,910
Due to an officer	189,865	189,765
Total Liabilities	1,058,652	883,586
Stockholders' Equity Deficit:
Common stock, $0.001 par value; 500,000,000 shares authorized, 119,950,000 and 119,950,000 shares issued and outstanding, respectively	119,950	119,950
Additional paid-in capital	(61,450)	(61,450)
Accumulated deficit	(977,996)	(919,033)
Total Stockholders' Deficit	(919,496)	(860,533)
Total Liabilities and Stockholders' Deficit	$ 139,156	$ 23,053

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	May 31, 2019	Feb. 28, 2019
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	119,950,000	119,950,000
Common stock, shares outstanding	119,950,000	119,950,000

Condensed Statements of Operati

Condensed Statements of Operations - USD ($)	3 Months Ended
	May 31, 2019	May 31, 2018
Condensed Statements Of Operations
Revenue:
Operating Expenses:
General and administrative expenses	58,963	54,633
Total operating expenses	58,963	54,633
Loss from operations	(58,963)	(54,633)
Loss before income taxes	(58,963)	(54,633)
Provision for income taxes
Net loss	$ (58,963)	$ (54,633)
Basic loss per share	$ 0	$ 0
Basic weighted average shares	119,950,000	119,950,000

Statements of Stockholders' Equ

Statements of Stockholders' Equity (Deficit) - USD ($)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Beginning balance, value at Feb. 28, 2018	$ 119,950	$ (61,450)	$ (698,237)	$ (639,737)
Beginning balance, shares at Feb. 28, 2018	119,950,000
Net loss			(54,633)	(54,633)
Ending balance, value at May. 31, 2018	$ 119,950	(61,450)	(752,870)	(694,370)
Ending balance, shares at May. 31, 2018	119,950,000
Beginning balance, value at Feb. 28, 2019	$ 119,950	(61,450)	(919,033)	(860,533)
Beginning balance, shares at Feb. 28, 2019	119,950,000
Net loss			(58,963)	(58,963)
Ending balance, value at May. 31, 2019	$ 119,950	$ (61,450)	$ (977,996)	$ (919,496)
Ending balance, shares at May. 31, 2019	119,950,000

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows - USD ($)	3 Months Ended
	May 31, 2019	May 31, 2018
Cash flows from operating activities:
Net loss	$ (58,963)	$ (54,633)
Changes in assets and liabilities:
Prepaids	(47,000)	2,500
Accounts payable	1,056	630
Deferred revenue	137,910
Accrued liabilities, related party	36,000	36,000
Net cash used in operating activities	69,003	(15,503)
Cash flows from investing activities:
Cash flows from financing activities:
Advances from an officer	100	10,000
Net cash provided by financing activities	100	10,000
Net increase (decrease) in cash	69,103	(5,503)
Cash, beginning of period	553	5,730
Cash, end of period	$ 69,656	$ 277

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	3 Months Ended
	May 31, 2019
Organization, Consolidation and Presentation of Financial Statements:
ORGANIZATION AND DESCRIPTION OF BUSINESS	NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS Anvi Global Holdings, Inc., (the “Company”) was incorporated under the laws of the State of Nevada on August 15, 2012, and intended to sell crepes in Czech Republic. That proposed business was abandoned when a change of control of the Company was effected May 6, 2014. On April 30, 2014, Tatiana Fumioka (the “Seller”), entered into a Common Stock Purchase Agreement (the “Stock Purchase Agreement”) pursuant to which the Seller agreed to sell to Mr. Rama Mohan R. Busa (the “Purchaser”), with his principal place of business in Cary, NC, the 72,000,000 shares of common stock of the Company owned by Ms. Fumioka, constituting approximately 75.83% of the Company’s outstanding common stock at that time, to be transferred to the name of Mr. Rama Mohan R. Busa, for $375,000. The sale was consummated on May 6, 2014. As a result of the sale, there was a change of control of the Registrant. This was a private transaction between the Seller and Purchaser, and no new shares of the Company were sold or issued. On September 27, 2017 the Company changed its name from Vetro Inc. to Anvi Global Holdings, Inc. On November 21, 2017, FINRA approved the new symbol ANVI, and a 9-for-1 forward split of the Company’s common shares. The Company’s corporate office is at 1135 Kildaire Farm Rd., Suite 319-4, Cary, NC 27511. As reported in a Form 8-K filed with the SEC on May 24, 2018, the Company entered into a Memorandum of Business Association (“MOA”) with Team Universal Infratech Pvt. Ltd (“TUI”), pursuant to which TUI, a 12-year old Indian infrastructure development company based in Hyderabad, agreed to enter into a Joint Venture (the “JV”) with the Registrant, to execute certain projects TUI is currently holding, and also which may include TUI’s future projects which are in the pipeline. The Company and TUI have agreed and proposed to create a legally valid joint venture entity (JV), with the Company having majority control of the JV stock and control of all operations of the specified projects which are executed pursuant to the JV. Because of the signing of that MOA, the Company also announced that it was no longer a “shell,” as that term is defined in the SEC’s Rule 12b-2. The Company’s obligation under the MOA is to raise $6,000,000 within 60 days of the signing of the MOA; however, on February 14, 2019, the date by which the Registrant was required to raise these funds, the date was extended by mutual agreement for nine months, to November 14, 2019. To date, the Company has not raised any of the funds required by the MOA. The Company’s affiliated privately-owned company Anvi Global, Inc. (“ANVI Private”) has been actively pursuing mining opportunities in Zimbabwe. The Company has not entered into any definitive agreements regarding assets in Zimbabwe, as the Company still needs to assess the risks involved with doing business in that country, including possible sanctions which could be placed on the Registrant by the United States. Notwithstanding the risks, as part of the mining operations in African region, Company has received a sales advance of $137,910 in two deposits of $102,170 on 04-18-2019 and $35,740 on 05-29-2019 towards the supply of chromium ore from the unaffiliated South African-based company. It is intended that the agreement with the unaffiliated South African company will be signed, and the proposed sale of chromium ore will be completed, only if and when the regulatory hurdles have been resolved. The Company has advanced $92,000 respectively as $50,000 on 04-3-2019, $10,000 on 06-03-2019, $27,000 on 06-04-2019 and $5,000 on 06-18-2019 to Anvi Private, towards the operating expenses involved in procurement and logistics of supplying the ore to the unaffiliated South African company from which Registrant has received the sales advance.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	May 31, 2019
Summary Of Significant Accounting Policies
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The Company’s unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The accompanying unaudited condensed financial statements reflect all adjustments, consisting of only normal recurring items, which, in the opinion of management, are necessary for a fair statement of the results of operations for the periods shown and are not necessarily indicative of the results to be expected for the full year ending February 28, 2020. These unaudited condensed financial statements should be read in conjunction with the financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended February 28, 2019. 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 of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the estimated useful lives of property and equipment. Actual results could differ from those estimates. Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

GOING CONCERN

GOING CONCERN	3 Months Ended
	May 31, 2019
Going Concern
GOING CONCERN	NOTE 3 - GOING CONCERN The accompanying unaudited financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has had no revenue and has accumulated a deficit of $977,996 as of May 31, 2019. The Company requires capital for its contemplated operational and marketing activities. The Company’s ability to raise additional capital through the future issuances of common stock is unknown. The obtainment of additional financing, the successful development of the Company’s contemplated plan of operations, and its transition, ultimately, to the attainment of profitable operations are necessary for the Company to continue operations. These conditions and the ability to successfully resolve these factors raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements of the Company do not include any adjustments that may result from the outcome of these uncertainties. The Company has discussed ways in order to mitigate conditions or events that may raise substantial doubt about its ability to continue as a going concern, there are no assurances that any of these measures will successfully mitigate or be effective at all. (1) The Company shall pursue financing plans to raise funds to judiciously spend towards operational expenses, (2) The Company shall continue to employ low cost measures to operate its business and analyze any unnecessary cost or expense, (3) The Company will seek to avoid unnecessary expenditures, travel, and lodging costs that are not mission critical to its business.

PREPAID TRANSACTIONS

PREPAID TRANSACTIONS	3 Months Ended
	May 31, 2019
Prepaid Transactions
PREPAID TRANSACTIONS	NOTE 4 – PREPAID TRANSACTIONS As of February 28, 2019, the Company has $22,500 of prepaid expenses, of which $10,000 is being amortized over the next 10 months for OTC Market’s annual fee and $12,500 is for prepaid legal fees. As of May 31, 2019, the Company has $19,500 of prepaid expenses, of which $7,000 is being amortized over the next seven months for OTC Market’s annual fee and $12,500 is for prepaid legal fees.

DEFERRED REVENUE

DEFERRED REVENUE	3 Months Ended
	May 31, 2019
Revenue Recognition and Deferred Revenue [Abstract]
DEFERRED REVENUE	NOTE 5 – DEFERRED REVENUE As part of the mining operations in African region, Company has received a sales advance of $137,910 towards the supply of chromium ore from the unaffiliated South African-based company. It is intended that the agreement with the unaffiliated South African company will be signed, and the proposed sale of chromium ore will be completed, only if and when the regulatory hurdles have been resolved.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	May 31, 2019
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 6 - RELATED PARTY TRANSACTIONS On May 28, 2014, the Company executed a service agreement with Strategic-IT Group Inc. Strategic-IT Group Inc. is owned and operated by Rama Mohan R. Busa, CEO. Services to be provided at $12,000 a month include, but are not limited to, providing office space, IT and related services, business consulting, and investor relations. As of May 31, 2019 and February 28, 2019, the Company has an accrued, unpaid balance due of $720,000 and $684,000, respectively. Since 2018 Rama Mohan R. Busa, CEO, has advanced funds to the Company from his personal account and related companies. The advances are to pay for operating expenses, are unsecured, non-interest bearing and due on demand. As of May 31, 2019 and February 28, 2019, the balance due was $189,865 and $189,765, respectively. As of May 31, 2019, the Company has advanced $50,000 to Anvi Private towards the operating expenses involved in procurement and logistics of supplying the ore to the unaffiliated South African company from which the Company has received the sales advance (Note 1).

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	May 31, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 7 – SUBSEQUENT EVENTS In accordance with SFAS 165 (ASC 855-10) management has performed an evaluation of subsequent events through the date that the financial statements were available to be issued and has determined that it does not have any material subsequent events to disclose in these financial statements, other than the following: The Company has advanced an additional $42,000 ($10,000 on June 3, 2019, $27,000 on June 4, 2019 and $5,000 on June 18, 2019) to Anvi Private, towards the operating expenses involved in procurement and logistics of supplying the ore to the unaffiliated South African company from which the Company received the sales advance.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	May 31, 2019
Summary Of Significant Accounting Policies Policies Abstract
Basis of Presentation	Basis of Presentation The Company’s unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The accompanying unaudited condensed financial statements reflect all adjustments, consisting of only normal recurring items, which, in the opinion of management, are necessary for a fair statement of the results of operations for the periods shown and are not necessarily indicative of the results to be expected for the full year ending February 28, 2020. These unaudited condensed financial statements should be read in conjunction with the financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended February 28, 2019.
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 of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the estimated useful lives of property and equipment. Actual results could differ from those estimates.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

ORGANIZATION AND DESCRIPTION _2

ORGANIZATION AND DESCRIPTION OF BUSINESS (Details Narrative) - USD ($)

Jun. 18, 2019

Jun. 04, 2019

Jun. 03, 2019

Apr. 03, 2019

Feb. 14, 2019

Nov. 21, 2017

May 06, 2014

Jul. 12, 2019

May 31, 2019

Jul. 12, 2019

May 29, 2019

Apr. 18, 2019

Feb. 28, 2019

Stock split description

9-for-1 forward split

Funds needed to raise under MOA

$ 6,000,000

MOA obligation description

The Company’s obligation under the MOA is to raise $6,000,000 within 60 days of the signing of the MOA; however, on February 14, 2019, the date by which the Registrant was required to raise these funds, the date was extended by mutual agreement for nine months, to November 14, 2019. To date, the Company has not raised any of the funds required by the MOA.

Sales advance

$ 35,740

$ 102,170

Total sales advances

$ 137,910

Anvi Global, Inc. [Member] | Transaction One [Member]

Advances to related party

$ 50,000

Anvi Global, Inc. [Member] | Transaction Two [Member] | Subsequent Event [Member]

Advances to related party

$ 10,000

Anvi Global, Inc. [Member] | Transaction Three [Member] | Subsequent Event [Member]

Advances to related party

$ 27,000

Anvi Global, Inc. [Member] | Total Amount of Advances [Member]

Advances to related party

$ 50,000

$ 92,000

Anvi Global, Inc. [Member] | Total Amount of Advances [Member] | Subsequent Event [Member]

Advances to related party

$ 42,000

Anvi Global, Inc. [Member] | Transaction Four [Member] | Subsequent Event [Member]

Advances to related party

$ 5,000

Mr. Rama Mohan R Busa, CEO of ANVI Global, Inc. [Member]

Shares of common stock sold

72,000,000

Ownership percentage sold

75.83%

Value of common stock sold

$ 375,000

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	May 31, 2019	Feb. 28, 2019
Going Concern Details Abstract
Accumulated deficit	$ 977,996	$ 919,033

PREPAID TRANSACTIONS (Details N

PREPAID TRANSACTIONS (Details Narrative) - USD ($)	May 31, 2019	Feb. 28, 2019
Prepaid expenses	$ 19,500	$ 22,500
Legal Fees [Member]
Prepaid expenses	12,000	12,500
OTC Market Annual Fee [Member]
Prepaid expenses	$ 7,000	$ 10,000

DEFERRED REVENUE (Details Narra

DEFERRED REVENUE (Details Narrative) - USD ($)	May 31, 2019	Feb. 28, 2019
Revenue Recognition and Deferred Revenue [Abstract]
Deferred revenue (sales advance)	$ 137,910

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	May 28, 2014	May 31, 2019	May 31, 2018	Jul. 12, 2019	May 31, 2019	Feb. 28, 2019
Related Party Transaction [Line Items]
Accrued, unpaid balance		$ 720,000			$ 720,000	$ 684,000
Advances from an officer		100	$ 10,000
Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Advances from an officer					$ 189,865	$ 189,765
Strategic-IT Group Inc. owned by CEO | Service Agreement [Member]
Related Party Transaction [Line Items]
Monthly service fee	$ 12,000
Anvi Global, Inc. [Member] | Total Amount of Advances [Member]
Related Party Transaction [Line Items]
Advances to related party		$ 50,000		$ 92,000

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - Anvi Global, Inc. [Member] - USD ($)	Jun. 18, 2019	Jun. 04, 2019	Jun. 03, 2019	Jul. 12, 2019	May 31, 2019	Jul. 12, 2019
Total Amount of Advances [Member]
Advances to related party					$ 50,000	$ 92,000
Subsequent Event [Member] | Total Amount of Advances [Member]
Advances to related party				$ 42,000
Subsequent Event [Member] | Transaction Two [Member]
Advances to related party			$ 10,000
Subsequent Event [Member] | Transaction Three [Member]
Advances to related party		$ 27,000
Subsequent Event [Member] | Transaction Four [Member]
Advances to related party	$ 5,000