Double Down 10-Q 8 Oct 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	Mar. 31, 2020shares
Details
Registrant CIK	0001570279
Fiscal Year End	--12-31
Registrant Name	DOUBLE DOWN HOLDINGS INC.
SEC Form	10-Q
Period End date	Mar. 31, 2020
Tax Identification Number (TIN)	46-1838178
Number of common stock shares outstanding	53,809,701
Filer Category	Non-accelerated Filer
Current with reporting	No
Interactive Data Current	No
Shell Company	false
Small Business	true
Emerging Growth Company	true
Ex Transition Period	false
Entity File Number	000-55547
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	1135 Terminal Way
Entity Address, City or Town	Reno
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89502
City Area Code	775
Local Phone Number	352-3936
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Document Quarterly Report	true
Document Transition Report	false

Statement of Financial Position

Statement of Financial Position - USD ($)	Mar. 31, 2020	Dec. 31, 2019
CURRENT ASSETS
Cash	$ 20,287	$ 140,007
Accounts Receivable	0	11,700
Inventory	72,334	34,864
Prepaid Expenses	0	9,825
Total Current Assets	92,621	196,396
FIXED ASSETS
Machinery and Equipment (net)	120,468	50,654
Total Fixed Assets	120,468	50,654
TOTAL ASSETS	213,089	247,050
Current Liabilities:
Accounts Payable and Accrued Expenses	29,192	8,671
Interest Payable	140	140
Notes Payable	5,600	5,600
Due to Related Party	7,730	7,730
Total Current Liabilities	42,662	22,141
Long Term Liabilities:
Royalty Agreement Payable	225,907	225,907
TOTAL LIABILITIES	268,569	248,048
Commitments & Contingencies	0	0
STOCKHOLDERS' EQUITY (DEFICIT)
March 31, 2020 and December 31, 2019	53,810	53,780
Paid in capital	527,540	524,570
Shares to be Issued	0	1,000
Treasury Shares	(18,000)	(18,000)
Accumulated deficit	(618,830)	(562,348)
Total Stockholders' Equity (Deficit)	(55,480)	(998)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 213,089	$ 247,050

Income Statement

Income Statement - USD ($)	Mar. 31, 2020	Mar. 31, 2019
Details
TOTAL REVENUES	$ 0	$ 0
COST OF GOODS SOLD
Merchant Account Fees	131	81
Purchases - Resale Tickets	0	0
TOTAL COST OF GOODS SOLD	131	81
GROSS PROFIT	(131)	(81)
Operating Expenses:
General and administrative	29,167	580
Professional Fees	27,184	6,940
Total Expenses	56,351	7,520
Net loss from operations	(56,481)	(7,601)
Other Income/Expense
Interest expense	0	(6,276)
Total Other Income/Expense	0	(6,276)
Provision for taxes	0	0
Net Income (loss)	$ (56,481)	$ (13,877)
Net loss per share:
Basic and diluted	$ (0.001)	$ 0
Basic and diluted	53,789,701	48,000,000

Statement of Stockholders' Equi

Statement of Stockholders' Equity - 3 months ended Mar. 31, 2020 - USD ($)	Common Stock	Additional Paid-in Capital	Treasury Stock, Common	Other Additional Capital	Retained Earnings	Total
Balance, December 31, 2019 at Dec. 31, 2019	$ 53,780	$ 524,570	$ (18,000)	$ 1,000	$ (562,348)	$ (998)
Balance, December 31, 2019 at Dec. 31, 2019	53,779,701
Common stock issued for cash March 2020	$ 20	1,980				2,000
Common stock issued for cash March 2020	20,000
Common Stock issued from 4th qtr 2019	$ 10	990		(1,000)		0
Common Stock issued from 4th qtr 2019	10,000
Net Income (loss)	$ 0	0			(56,482)	(56,482)
Balance, March 31, 2020 at Mar. 31, 2020	$ 53,810	$ 527,540	$ (18,000)	$ 0	$ (618,830)	$ (55,480)
Balance, March 31, 2020 at Mar. 31, 2020	53,809,701

Statement of Cash Flows

Statement of Cash Flows - USD ($)	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020
Details
Net Income (loss)	$ (56,481)	$ (13,877)	$ (56,482)
provided by operations and depreciation:
Depreciation	6,335	0
Changes in assets and liabilities:
Accounts Receivable	11,700	0
Inventory	(37,470)	0
Prepaid Expenses	9,825	0
Accounts Payable	20,520	(650)
Interest Payable	0	6,276
Net cash used in operating activities	(45,571)	(8,251)
Investing activities:
Purchase of Equipment	(76,149)	0
Net cash used in investing activities	(76,149)	0
Financing activities:
company expenses paid personally:	0	5,600
Shares Sold in Private Placement	2,000	0
Net cash provided by financing activities	2,000	5,600
Net increase in cash	(119,720)	(2,651)
Cash and Cash Equivalents, at Carrying Value, Ending Balance	$ 20,287	$ 1,743	$ 20,287

Organization, Consolidation and

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2020
Notes
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies	NOTE 1. ORGANIZATION AND DESCRIPTION OF BUSINESS Double Down Holdings Inc. (the “Company”) was incorporated under the laws of the State of Nevada on January 17, 2013 as Ticket Corp. The Company was formed to become a provider of tickets, merchandise and social media communications driven primarily through its mobile application technology in the United States and a provider of premium seats and entrance to concerts, sporting events, theatre and entertainment, including corporate and group ticketing, special events and promotions worldwide. Double Down Holdings Inc. (the Company) was incorporated under the laws of the State of Nevada on January 17, 2013 as Ticket Corp. The Company was formed to become a provider of tickets, merchandise and social media communications driven primarily through its mobile application technology in the United States and a provider of premium seats and entrance to concerts, sporting events, theatre and entertainment, including corporate and group ticketing, special events and promotions worldwide. The Company is expanding its offerings into non ticketing product markets. In order to facilitate the changes Ticket Corp has changed its name from Ticket Corp to Double Down Holdings Inc. This name change will allow us to add different product lines to our company umbrella. The next area Double Down Holdings Inc will be focusing on is the natural herbal oil and extract market with our product to be sold through the standard channels of distribution for the vertical market. The Company is in an active and operational stage. Its activities to date include but is not limited to capital formation, organization, application development, beta testing and launch as well as developing relationships with key product merchandisers and have populated the mobile app with available tickets and authentic merchandise to most major live events. The company is in the early stages of collecting revenue but is selling tickets and merchandise on its mobile application. In 2019, as the secondary market for live event commerce enters a declining stage, the Company diversified its business operations to make its ticketing and event-based product offerings as a secondary business and shifted its primary focus to other high growth markets. The Company is looking to markets that can leverage its infrastructure, data gathering and geolocating technology platform the Company previously developed for its ticketing business. The first new market the Company has entered is essential oils and extracts particularly as it relates to wellness. NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Impact of COVID-19: The COVID-19 pandemic has impacted and could further impact the Company’s business and operations and the operations of its suppliers, vendors and customers. The pandemic continues to significantly impact global economic conditions and, in the U.S., as federal, state and local governments react to the public health crisis with mitigation measures, creating significant uncertainties in the U.S. and global economies. The extent to which the pandemic will continue to affect the Company’s business, operations and financial results will depend on numerous factors that it may not be able to accurately predict and which may cause the actual results to differ from the estimates and assumptions the Company is required to make in preparation of financial statements according to U.S. GAAP. Basis of Accounting The accompanying audited financial statements of Double Down Holdings Inc. (the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the rules of the Securities and Exchange Commission (“SEC”), and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s Form 10-K for the year ended December 31, 2019 as filed with the SEC. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Unless the context otherwise requires, all references to “Double Down”, “Double Down Holdings”, “we,” “us,” “our” or the “Company” are to Double Down Holdings Inc. Basic Loss per Share ASC No. 260, “Earnings per Share”, specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock. The Company has adopted the provisions of ASC No. 260. Basic net loss per share amounts is computed by dividing the net loss by the weighted average number of common shares outstanding. Diluted loss per share is the same as basic loss per share because the consideration of these shares would be anti-dilutive in periods of loss. Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Use of Estimates and Assumptions 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. Actual results could differ from those estimates. In accordance with ASC No. 250 all adjustments are normal and recurring. Income Taxes Income taxes are provided in accordance with ASC No. 740, Accounting for Income Taxes. A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carry-forwards. Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. Revenue The Company has implemented ASU 2015-04, Revenue from Contracts with Customers (Accounting Standards Codification Topic 606, “ASC 606”), using modified retrospective method, which required the company to apply the new guidance retrospectively to revenue transactions completed on or after the effective date. Pursuant to ASC 606, in contracts with customers, an entity should recognize revenue in a way that depicts the amount and timing of consideration received for transferring goods or services. To achieve this, an entity should apply the five-step approach outlined in the new revenue standard: · Step 1: Identify the contract with a customer · Step 2: Identify the performance obligations in the contract · Step 3: Determine the transaction price · Step 4: Allocate the transaction price to the performance obligations in the contract · Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation Adopting this new standard had no material financial impact on our financial statements but did result in enhanced presentation and disclosures. Our revenue consists substantially of product sales. The Company reports product sales net of discounts and recognize them at the point in time when control transfers to the customer, which occurs when shipment is confirmed. Upon adoption of ASC 606, the Company has elected the following accounting policies and practical expedients: The Company recognizes shipping and handling expense as fulfilment activities (rather than as a promised good or service) when the activities are performed even if those activities are performed after the control of the good has been transferred. Accordingly, the Company records the expenses for shipping and handling activities at the same time the Company recognizes revenue. The Company excludes from the measurement of the transaction price all taxes imposed on and concurrent with a specific revenue- producing transaction and collected by the entity from a customer, including sales, use, excise, value-added, and franchise taxes (collectively referred to as sales taxes). The Company does not adjust revenue for the effects of any financing components if the contract has a duration of one year or less, as the Company receives payment from the customer within one year from when it transferred control of the related goods. The Company offers its products through its website and well as through distributors and resellers. Property and Equipment Property and equipment are stated at cost, net of accumulated depreciation. Depreciation expense is provided for on a straight-line basis over the estimated useful life of the asset and range from three to five years. When assets are sold or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts and the resulting gain or loss, if any, is included in operations. Maintenance and repairs are charged to operations as incurred. Inventories Inventories are stated at the lower of cost or market value. Cost is determined using the first-in, first-out method. Inventory quantities on-hand will be regularly reviewed, and where necessary, reserves for excess and unusable inventories will be recorded. Inventory will consist of finished goods, work in progress and related packaging materials. Reclassification Certain balances from prior periods have been reclassified in these audited financial statements to conform to current period presentation. This had no impact on prior reported assets, equity, or operations. Software Development Costs The company expenses software development costs in accordance with FASB ASC 985-20-25. All costs incurred to establish the technological feasibility of a computer software product to be sold, leased, or otherwise marketed are research and development costs. Once technological feasibility has been reached, but not before it is released to the public, the cost incurred for software development can be capitalized and amortized after release. The company incurred no software development costs during the three month periods ended March 31, 2020 and 2019. Advertising Costs The company expenses advertising costs as they are incurred. The company incurred no advertising costs during the three month periods ended March 31, 2020 and 2019. NOTE 3. RECENT ACCOUNTING PRONOUCEMENTS The Financial Accounting Standards Board (“FASB”) periodically issues new accounting standards in a continuing effort to improve standards of financial accounting and reporting. The Company has reviewed the recently issued pronouncements. On June 20, 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting Revenue from Contracts with Customers We are an “Emerging Growth Company,” as defined in the Jumpstart our Business Startups Act of 2012, and we may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies. Emerging Growth Companies can delay adopting new or revised accounting standards until such time as those standards apply to private companies. We have elected to avail ourselves to this exemption from new or revised accounting standards, which includes the adoption of ASU 2014-09.

Substantial Doubt about Going C

Substantial Doubt about Going Concern	3 Months Ended
	Mar. 31, 2020
Notes
Substantial Doubt about Going Concern	NOTE 4. GOING CONCERN The accompanying financial statements are presented on a going concern basis. The Company had limited operations during the period from January 17, 2013 (date of inception) through March 31, 2019 and a deficit of $618,830, or $0.01 per share. This condition raises substantial doubt about the Company’s ability to continue as a going concern. Management believes that the Company’s current cash of $20,287, anticipated revenues and loans from our director when needed will be sufficient to cover the expenses they will incur during the next twelve months in a limited operations scenario. Management believes that by following through with the Company’s plan of operation for the next 12 months that the revenue will increase to a point to support operations without loans from the director of the Company.

Related Party Transactions Disc

Related Party Transactions Disclosure	3 Months Ended
	Mar. 31, 2020
Notes
Related Party Transactions Disclosure	NOTE 5. RELATED PARTY TRANSACTIONS The officers and directors of the Company may, in the future, become involved in other business opportunities as they become available, they may face a conflict in selecting between the Company and their other business opportunities. The Company has not formulated a policy for the resolution of such conflicts. As of March 31, 2020, $13,330 is owed to Russell Rheingrover, CEO. (i) $100 of the funds were loaned by him to the Company to open the bank account and is non-interest bearing with no specific repayment terms. (ii) $5,375 of the funds were for payment of an outstanding balance to DDC for software development. (iii) $2,750 of the funds were for payment of an outstanding balance to the Company’s auditor. (iv) $5,600 of the funds are the result of a 10% Convertible Note issued on March 25, 2019. Under the terms of the note the principal sum and interest is to be repaid to Mr. Rheingrover by March 24, 2021 or is convertible at the conversion price of $0.10 per common stock share. The conversion price was considered by management to be a fair price. The accrued interest on the convertible note as of March 31, 2020 was $140. (v) There was a ($495) adjustment of the funds to correct for a reimbursement to Mr. Rheingrover made in error, in a prior period. On May 22, 2019 the Company entered into a Note Cancellation and Royalty Agreement with Russell Rheingrover, it’s CEO and director, whereby Mr. Rheingrover agreed to cancel certain then-existing convertible promissory notes issued from September 8, 2016 to December 22, 2018 in the principal and interest amount of $225,907 in exchange for a royalty on future sales of essential oil products by the Company in the amount of $0.05/30ml up to $225,907. On June 19, 2019 the Company issued 2,099,701 restricted common stock shares to Russell Rheingrover as a result of the conversion of the following notes: 1. A $35,000 10% Convertible Note issued on September 3, 2015, convertible at the conversion price of $0.05 per common stock share. The interest accrued on this note was $13,031. The conversion price was considered by management to be a fair price. 2. A $25,000 10% Convertible Note issued on October 5, 2015, convertible at the conversion price of $0.05 per common stock share. The interest accrued on this note was $9,089. The conversion price was considered by management to be a fair price. 3. A $35,000 10% Convertible Note issued on April 30, 2016, convertible at the conversion price of $0.10 per common stock share. The interest accrued on this note was $10,729. The conversion price was considered by management to be a fair price. Mr. Rheingrover, who currently owns 37% of our outstanding voting stock, is also the Chief Executive Officer of Jiffy Tickets, a national reseller of concert, theater, sporting and event tickets. He currently devotes approximately 40 hours per week of his business time to our affairs and 5 hours per week to Jiffy Tickets. He owes a fiduciary duty of loyalty to us, but also owes similar fiduciary duties to Jiffy Tickets. Due to his responsibilities to serve both companies, there is potential for conflicts of interest. He will use every effort to avoid material conflicts of interest generated by his responsibilities to both companies, but no assurance can be given that material conflicts will not arise which could be detrimental to our operations and financial prospects.

Inventory Disclosure

Inventory Disclosure	3 Months Ended
	Mar. 31, 2020
Notes
Inventory Disclosure	NOTE 6. INVENTORY During the year ended December 31, 2019, Double Down entered into an agreement with MKJ Enterprises (Rogue Valley Naturals) to purchase 146 pounds of flower which was paid in full and will be stored and shipped to Double Down as needed for production purposes. Double Down also had an option for an additional 146 pounds at the 2019 price point. During the first quarter ended March 31, 2020 the Company purchased an additional 100 pounds which was paid in full and will be stored and shipped to Double Down as needed for production purposes. Inventory at March 31, 2020 consisted of raw materials in the amount of $64,774 and packaging of $7,560. There was no inventory at December 31, 2019.

Property, Plant and Equipment D

Property, Plant and Equipment Disclosure	3 Months Ended
	Mar. 31, 2020
Notes
Property, Plant and Equipment Disclosure	NOTE 7. PROPERTY, PLANT AND EQUIPMENT Property, Plant and Equipment at March 31, 2020 consisted solely of machinery and equipment in the amount of $126,706. Depreciation of $6,238 was recorded for the three months period ended March 31, 2020. There was $50,654 recorded in Property, Plant or Equipment at December 31, 2019.

Stockholders' Equity Note Discl

Stockholders' Equity Note Disclosure	3 Months Ended
	Mar. 31, 2020
Notes
Stockholders' Equity Note Disclosure	NOTE 8. STOCK TRANSACTIONS On January 31, 2013, the Company issued a total of 33,000,000 shares of common stock to its sole officer Russell Rheingrover for cash in the amount of $0.001 per share for a total of $33,000. The company’s Registration Statement on Form S-1 was declared effective on July 25, 2014. In October 2014 the company sold 15,000,000 shares of common stock to 50 independent shareholders at a price of $0.033 per share for total proceeds of $49,500, pursuant to the Registration Statement. On July 1, 2019 the Company sold 2,500,000 shares of common stock to an investor at a price of $0.10 per share for total proceeds of $250,000. On July 18, 2019 the Company sold 300,000 shares of common stock to an investor at a price of $0.10 per share for total proceeds of $30,000. On June 19, 2019 the Company issued 2,099,701 shares of common stock to Russell Rheingrover as a result of the conversion of three Convertible Notes in the amount of $127,850. On September 13, 2019, the Company placed $18,000 in an escrow account for the purposes of effecting a possible buy-back of shares of outstanding common stock. As of March 31, 2020, the funds had been dispersed and the Transfer Agent is in the process of finalizing the paperwork to return the shares to the treasury. On October 20, 2019 the Company sold 660,000 shares of common stock to four (4) investors at a price of $0.10 per share for total proceeds of $66,000. On December 23, 2019 the Company sold 220,000 shares of common stock to two (2) investors at a price of $0.10 per share for total proceeds of $22,000. On December 30, 2019 the Company sold 10,000 shares of common stock to one (1) investor at a price of $0.10 per share for total proceeds of $1,000. The shares were issued in March 2020. On March 15, 2020 the Company sold 20,000 shares of common stock to one (1) investor at a price of $0.10 per share for total proceeds of $2,000. As of March 31, 2020, the Company had 53,809,701 shares of common stock issued and outstanding. NOTE 9. STOCKHOLDERS’ EQUITY The stockholders’ equity section of the Company contains the following classes of capital stock as of March 31, 2020: Common stock, $ 0.001 par value: 100,000,000 shares authorized; 53,809,701 shares issued and outstanding. On September 13, 2019, the Company placed $18,000 in an escrow account for the purposes of effecting a possible buy-back of shares of outstanding common stock. As of March 31, 2020, the funds had been dispersed and the Transfer Agent is in the process of finalizing the paperwork to return the shares to the treasury.

Income Tax Disclosure

Income Tax Disclosure	3 Months Ended
	Mar. 31, 2020
Notes
Income Tax Disclosure	NOTE 10. PROVISION FOR INCOME TAXES Realization of deferred tax assets is dependent upon sufficient future taxable income during the period that deductible temporary differences and carry-forwards are expected to be available to reduce taxable income. As the achievement of required future taxable income is uncertain, the Company recorded a valuation allowance. As of March 31, 2020, the Company had a net operating loss carry-forward of approximately $618,830. Net operating loss carry-forward, expires twenty years from the date the loss was incurred. The Company is subject to United States federal and state income taxes at an approximate rate of 21%. The reconciliation of the provision for income taxes at the United States federal statutory rate compared to the Company’s income tax expense as reported is as follows: March 31, December 31, 2020 2019 Accumulated loss before income taxes per financial statements $ 56,481 $ 132,978 Income tax rate 21 % 21 % Income tax recovery (11,861 ) (27,925 ) Permanent differences - - Temporary differences - - Valuation allowance change 11,861 27,925 Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Deferred income taxes arise from temporary differences in the recognition of income and expenses for financial reporting and tax purposes. The significant components of deferred income tax assets and liabilities at March 31, 2020 and December 31, 2019 are as follows: March 31, December 31, 2020 2019 Net operating loss carryforward $ 130,105 $ 118,244 Valuation allowance (130,105 ) (118,244 ) Net deferred income tax asset - - The Company has recognized a valuation allowance for the deferred income tax asset since the Company cannot be assured that it is more likely than not that such benefit will be utilized in future years. The valuation allowance is reviewed annually. When circumstances change and which cause a change in management’s judgment about the realizability of deferred income tax assets, the impact of the change on the valuation allowance is generally reflected in current income. The Tax Cuts and Jobs Act enacted on December 22, 2017, reduced the U.S. federal corporate tax rate from 35% to 21%. The Company has not yet completed its full accounting for the effect of the Act and is therefore providing an estimate of the anticipated effect. The most substantial impact is the reduction of the existing deferred tax benefit by $31,400 as of December 31, 2017 due to the decrease in future tax rates.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2020
Notes
Subsequent Events	NOTE 11. SUBSEQUENT EVENTS On August 28, 2020 the Company entered into a subscription agreement for 10,000 shares of common stock to one (1) investor at a price of $0.10 per share for total proceeds of $1,000. On August 31, 2020 the Company entered into a subscription agreement for 50,000 shares of common stock to one (1) investor at a price of $0.10 per share for total proceeds of $5,000. On September 3, 2020 the company entered into a subscription agreement for 180,000 shares of common stock for $18,000. The Company evaluated all other events or transactions that occurred after March 31, 2020 up through date the Company issued these financial statements, October 8, 2020, and found no subsequent event that needed to be reported.

Organization, Consolidation a_2

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Basis of Accounting, Policy (Policies)	3 Months Ended
	Mar. 31, 2020
Policies
Basis of Accounting, Policy	Basis of Accounting The accompanying audited financial statements of Double Down Holdings Inc. (the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the rules of the Securities and Exchange Commission (“SEC”), and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s Form 10-K for the year ended December 31, 2019 as filed with the SEC. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Unless the context otherwise requires, all references to “Double Down”, “Double Down Holdings”, “we,” “us,” “our” or the “Company” are to Double Down Holdings Inc.

Organization, Consolidation a_3

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Earnings Per Share, Policy (Policies)	3 Months Ended
	Mar. 31, 2020
Policies
Earnings Per Share, Policy	Basic Loss per Share ASC No. 260, “Earnings per Share”, specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock. The Company has adopted the provisions of ASC No. 260. Basic net loss per share amounts is computed by dividing the net loss by the weighted average number of common shares outstanding. Diluted loss per share is the same as basic loss per share because the consideration of these shares would be anti-dilutive in periods of loss.

Organization, Consolidation a_4

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Cash and Cash Equivalents, Policy (Policies)	3 Months Ended
	Mar. 31, 2020
Policies
Cash and Cash Equivalents, Policy	Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.

Organization, Consolidation a_5

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Use of Estimates, Policy (Policies)	3 Months Ended
	Mar. 31, 2020
Policies
Use of Estimates, Policy	Use of Estimates and Assumptions 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. Actual results could differ from those estimates. In accordance with ASC No. 250 all adjustments are normal and recurring.

Organization, Consolidation a_6

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Income Tax, Policy (Policies)	3 Months Ended
	Mar. 31, 2020
Policies
Income Tax, Policy	Income Taxes Income taxes are provided in accordance with ASC No. 740, Accounting for Income Taxes. A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carry-forwards. Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

Organization, Consolidation a_7

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Revenue (Policies)	3 Months Ended
	Mar. 31, 2020
Policies
Revenue	Revenue The Company has implemented ASU 2015-04, Revenue from Contracts with Customers (Accounting Standards Codification Topic 606, “ASC 606”), using modified retrospective method, which required the company to apply the new guidance retrospectively to revenue transactions completed on or after the effective date. Pursuant to ASC 606, in contracts with customers, an entity should recognize revenue in a way that depicts the amount and timing of consideration received for transferring goods or services. To achieve this, an entity should apply the five-step approach outlined in the new revenue standard: · Step 1: Identify the contract with a customer · Step 2: Identify the performance obligations in the contract · Step 3: Determine the transaction price · Step 4: Allocate the transaction price to the performance obligations in the contract · Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation Adopting this new standard had no material financial impact on our financial statements but did result in enhanced presentation and disclosures. Our revenue consists substantially of product sales. The Company reports product sales net of discounts and recognize them at the point in time when control transfers to the customer, which occurs when shipment is confirmed. Upon adoption of ASC 606, the Company has elected the following accounting policies and practical expedients: The Company recognizes shipping and handling expense as fulfilment activities (rather than as a promised good or service) when the activities are performed even if those activities are performed after the control of the good has been transferred. Accordingly, the Company records the expenses for shipping and handling activities at the same time the Company recognizes revenue. The Company excludes from the measurement of the transaction price all taxes imposed on and concurrent with a specific revenue- producing transaction and collected by the entity from a customer, including sales, use, excise, value-added, and franchise taxes (collectively referred to as sales taxes). The Company does not adjust revenue for the effects of any financing components if the contract has a duration of one year or less, as the Company receives payment from the customer within one year from when it transferred control of the related goods. The Company offers its products through its website and well as through distributors and resellers.

Organization, Consolidation a_8

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Property, Plant and Equipment, Policy (Policies)	3 Months Ended
	Mar. 31, 2020
Policies
Property, Plant and Equipment, Policy	Property and Equipment Property and equipment are stated at cost, net of accumulated depreciation. Depreciation expense is provided for on a straight-line basis over the estimated useful life of the asset and range from three to five years. When assets are sold or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts and the resulting gain or loss, if any, is included in operations. Maintenance and repairs are charged to operations as incurred.

Organization, Consolidation a_9

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Inventory, Policy (Policies)	3 Months Ended
	Mar. 31, 2020
Policies
Inventory, Policy	Inventories Inventories are stated at the lower of cost or market value. Cost is determined using the first-in, first-out method. Inventory quantities on-hand will be regularly reviewed, and where necessary, reserves for excess and unusable inventories will be recorded. Inventory will consist of finished goods, work in progress and related packaging materials.

Organization, Consolidation _10

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Reclassifications (Policies)	3 Months Ended
	Mar. 31, 2020
Policies
Reclassifications	Reclassification Certain balances from prior periods have been reclassified in these audited financial statements to conform to current period presentation. This had no impact on prior reported assets, equity, or operations.

Organization, Consolidation _11

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Research, Development, and Computer Software, Policy (Policies)	3 Months Ended
	Mar. 31, 2020
Policies
Research, Development, and Computer Software, Policy	Software Development Costs The company expenses software development costs in accordance with FASB ASC 985-20-25. All costs incurred to establish the technological feasibility of a computer software product to be sold, leased, or otherwise marketed are research and development costs. Once technological feasibility has been reached, but not before it is released to the public, the cost incurred for software development can be capitalized and amortized after release. The company incurred no software development costs during the three month periods ended March 31, 2020 and 2019.

Organization, Consolidation _12

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Advertising Cost (Policies)	3 Months Ended
	Mar. 31, 2020
Policies
Advertising Cost	Advertising Costs The company expenses advertising costs as they are incurred. The company incurred no advertising costs during the three month periods ended March 31, 2020 and 2019.

Organization, Consolidation _13

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: New Accounting Pronouncements, Policy (Policies)	3 Months Ended
	Mar. 31, 2020
Policies
New Accounting Pronouncements, Policy	NOTE 3. RECENT ACCOUNTING PRONOUCEMENTS The Financial Accounting Standards Board (“FASB”) periodically issues new accounting standards in a continuing effort to improve standards of financial accounting and reporting. The Company has reviewed the recently issued pronouncements. On June 20, 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting Revenue from Contracts with Customers We are an “Emerging Growth Company,” as defined in the Jumpstart our Business Startups Act of 2012, and we may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies. Emerging Growth Companies can delay adopting new or revised accounting standards until such time as those standards apply to private companies. We have elected to avail ourselves to this exemption from new or revised accounting standards, which includes the adoption of ASU 2014-09.

Income Tax Disclosure_ Schedule

Income Tax Disclosure: Schedule of Components of Income Tax Expense (Benefit) (Tables)	3 Months Ended
	Mar. 31, 2020
Tables/Schedules
Schedule of Components of Income Tax Expense (Benefit)	March 31, December 31, 2020 2019 Accumulated loss before income taxes per financial statements $ 56,481 $ 132,978 Income tax rate 21 % 21 % Income tax recovery (11,861 ) (27,925 ) Permanent differences - - Temporary differences - - Valuation allowance change 11,861 27,925

Income Tax Disclosure_ Schedu_2

Income Tax Disclosure: Schedule of Deferred Tax Assets and Liabilities (Tables)	3 Months Ended
	Mar. 31, 2020
Tables/Schedules
Schedule of Deferred Tax Assets and Liabilities	March 31, December 31, 2020 2019 Net operating loss carryforward $ 130,105 $ 118,244 Valuation allowance (130,105 ) (118,244 ) Net deferred income tax asset - -

Stockholders' Equity Note Dis_2

Stockholders' Equity Note Disclosure (Details) - $ / shares	Mar. 31, 2020	Mar. 15, 2020	Dec. 30, 2019	Dec. 23, 2019	Oct. 20, 2019	Jul. 18, 2019	Jul. 01, 2019	Jun. 19, 2019	Jul. 25, 2014	Jan. 31, 2013
Details
Shares, Issued	53,809,701	20,000	10,000	220,000	660,000	300,000	2,500,000	2,099,701	15,000,000	33,000,000
Shares Issued, Price Per Share		$ 0.10	$ 0.10	$ 0.10	$ 0.10	$ 0.10	$ 0.10		$ 0.033	$ 0.001

Income Tax Disclosure_ Schedu_3

Income Tax Disclosure: Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Details
Accumulated loss before income taxes per financial statements	$ 56,481	$ 132,978
Income tax rate	21.00%	21.00%
Income tax recovery	$ (11,861)	$ (27,925)
Valuation allowance change	$ 11,861	$ 27,925

Income Tax Disclosure_ Schedu_4

Income Tax Disclosure: Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Details
Net operating loss carryforward	$ 130,105	$ 118,244
Valuation allowance	(130,105)	(118,244)
Net deferred income tax asset	$ 0	$ 0