Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Oct. 31, 2016 | Dec. 19, 2016 | |
Document And Entity Information [Abstract] | ||
Entity Registrant Name | GREEN VISION BIOTECHNOLOGY CORP. | |
Entity Central Index Key | 1,571,804 | |
Trading Symbol | gvbt | |
Current Fiscal Year End Date | --01-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 60,790,000 | |
Document Type | 10-Q | |
Document Period End Date | Oct. 31, 2016 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q3 |
BALANCE SHEETS (UNAUDITED)
BALANCE SHEETS (UNAUDITED) - USD ($) | Oct. 31, 2016 | Jan. 31, 2016 |
Current Assets | ||
Cash and cash equivalents | ||
Total current assets | ||
Total Assets | ||
Current Liabilities | ||
Advances & Loans from Related Parties | 82,365 | 34,764 |
Accounts payable and accrued liabilities | 7,218 | 2,271 |
Total current liabilities | 89,583 | 37,035 |
Total Liabilities | 89,583 | 37,035 |
Stockholders' Deficit | ||
Common stock, par value $0.001; 750,000,000 shares authorized, 60,790,000 shares issued and outstanding | 60,790 | 60,790 |
Additional paid in capital | (16,862) | (16,862) |
Accumulated deficit | (133,511) | (80,963) |
Total Stockholders' Deficit | (89,583) | (37,035) |
Total Liabilities and Stockholders' Deficit |
BALANCE SHEETS (Parentheticals)
BALANCE SHEETS (Parentheticals) (UNAUDITED) - $ / shares | Oct. 31, 2016 | Jan. 31, 2016 |
Statement of Financial Position [Abstract] | ||
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 750,000,000 | 750,000,000 |
Common stock, shares issued | 60,790,000 | 60,790,000 |
Common stock, shares outstanding | 60,790,000 | 60,790,000 |
STATEMENTS OF OPERATIONS (UNAUD
STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2016 | Oct. 31, 2015 | Oct. 31, 2016 | Oct. 31, 2015 | |
Income Statement | ||||
REVENUES | ||||
OPERATING EXPENSES | ||||
General and administrative expenses | 35,593 | 5,918 | 52,548 | 15,493 |
Total Operating Expenses | 35,593 | 5,918 | 52,548 | 15,493 |
LOSS BEFORE INCOME TAXES | (35,593) | (5,918) | (52,548) | (15,493) |
Income taxes | ||||
NET LOSS | $ (35,593) | $ (5,918) | $ (52,548) | $ (15,493) |
NET LOSS PER SHARE: BASIC AND DILUTED | $ 0 | $ 0 | $ 0 | $ 0 |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED | 60,790,000 | 60,790,000 | 60,790,000 | 60,790,000 |
STATEMENTS OF CASH FLOWS (UNAUD
STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) | 9 Months Ended | |
Oct. 31, 2016 | Oct. 31, 2015 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (52,548) | $ (15,493) |
Changes in assets and liabilities | ||
Accounts payable and accrued liabilities | 4,947 | 6,368 |
CASH FLOW USED IN OPERATING ACTIVITIES | (47,601) | (9,125) |
CASH FLOW FROM FINANCING ACTIVITIES | ||
Proceeds from related parties | 47,601 | 8,600 |
Advances from prior director | 350 | |
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES | 47,601 | 8,950 |
NET CHANGE IN CASH | (175) | |
Cash, beginning of period | 175 | |
Cash, end of period | ||
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Interest paid | ||
Income taxes paid | ||
NONCASH TRANSACTIONS: | ||
Advances forgiven by prior director | $ 17,348 |
ORGANIZATION AND NATURE OF BUSI
ORGANIZATION AND NATURE OF BUSINESS | 9 Months Ended |
Oct. 31, 2016 | |
Organization and Nature of Business [Abstract] | |
ORGANIZATION AND NATURE OF BUSINESS | NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS Green Vision Biotechnology Corp. (the “Company”) was incorporated under the laws of the State of Nevada on July 5, 2012. We were founded to be in the business of translation and interpretation. The Company undertook translation and interpretation projects for various fields from business, economics, to science issues. All operating projects were customer tailored with freelancers that operated in their mother-tongue. We are presently in the process of exploring other business opportunities. The Company adopted a business plan to pursue business opportunities in the global telecommunications industry. On September 30, 2016, Vibe Wireless Corp. (the "Company") filed a Certificate of Amendment with the Nevada Secretary of State (the “Nevada SOS”) whereby it amended its Articles of Incorporation by increasing the Company’s authorized number of shares of common stock from 75 million to 750 million and increasing all of its issued and outstanding shares of common stock at a ratio of ten (10) shares for every one (1) share held. The Company’s Board of Directors approved this amendment on September 30, 2016. On September 30, 2016, the Company filed Articles of Merger with the Nevada SOS whereby it entered into a statutory merger with its wholly-owned subsidiary, Green Vision Biotechnology Corp. pursuant to Nevada Revised Statutes 92A.200 et. seq. The effect of such merger is that the Company is the surviving entity and changed its name to “Green Vision Biotechnology Corp.” On September 30, 2016, the Company filed an Issuer Company-Related Action Notification Form with FINRA requesting that the aforementioned forward split and name change be effected in the market. The Company also requested that its ticker symbol be changed to “GVBT”. Such notification form is being reviewed by FINRA. This name change and our ticker symbol change was acknowledged by FINRA and effected in the market on November 27, 2016. |
BASIS OF PRESENTATION AND GOING
BASIS OF PRESENTATION AND GOING CONCERN | 9 Months Ended |
Oct. 31, 2016 | |
Basis of Presentation and Going Concern [Abstract] | |
BASIS OF PRESENTATION AND GOING CONCERN | NOTE 2 – BASIS OF PRESENTATION AND GOING CONCERN BASIS OF ACCOUNTING The accompanying unaudited interim financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules and regulations of the Securities and Exchange Commission (the "SEC") for interim financial reporting. Accordingly, these financial statements do not include all information and footnote disclosures required for an annual set of financial statements prepared under United States generally accepted accounting principles. In the opinion of our management, all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation of the financial position, results of operations and cash flows as of October 31, 2016 and for all interim periods presented herein have been reflected in these financial statements and the notes there to. Interim results for the nine months ended October 31, 2016 are not necessarily indicative of the results to be expected for the fiscal year as a whole. These financial statements should be read in conjunction with the audited financial statements and accompanying notes as included in the Form 10-K for the year ended January 31, 2016. GOING CONCERN The financial statements have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company has incurred losses resulting in an accumulated deficit of $133,511 as of October 31, 2016. and further losses are anticipated in the development of its business raising substantial doubt about the Company’s ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and, or, to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with existing cash on hand and loans from directors and, or, private placement of common stock. These financials do not include any adjustments relating to the recoverability and reclassification of recorded asset amounts, or amounts and classifications of liabilities that might result from this uncertainty. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Recent Accounting Pronouncements The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flow. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 9 Months Ended |
Oct. 31, 2016 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 3 – RELATED PARTY TRANSACTIONS On August 28, 2015, the Company’s officer and director entered into an agreement to loan up to $50,000 to the Company, accruing interest at 8%, due on September 1, 2016, and unsecured. The maturity date has been extended by agreement to January 30, 2017. As of October 31, 2016 the Company has received $47,115 in loan proceeds under this agreement, including $12,351 loaned during the nine months ended October 31, 2016. The Company has accrued interest of $3,615 under the agreement as of October 31, 2016. Beginning in September 2016, in conjunction with a statutory merger with its wholly-owned subsidiary, Green Vision Biotechnology Corp, certain shareholders of Green Vision agreed to loan the Company funds on an on-going basis to be used for working capital accruing interest at 8%, due on January 31, 2018. The Company has received $35,250 in loans as of October 31, 2016 and accrued interest of $1,058. The balance due to advances and loans from related parties was $82,365 and $34,764 as of October 31, 2016 and January 31, 2016 respectively. |
BASIS OF PRESENTATION AND GOIN9
BASIS OF PRESENTATION AND GOING CONCERN (Policies) | 9 Months Ended |
Oct. 31, 2016 | |
Basis of Presentation and Going Concern [Abstract] | |
Recent Accounting Pronouncements | Recent Accounting Pronouncements The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flow. |
ORGANIZATION AND NATURE OF BU10
ORGANIZATION AND NATURE OF BUSINESS (Detail Textuals) - shares | 9 Months Ended | |
Oct. 31, 2016 | Jan. 31, 2016 | |
Organization and Nature of Business [Abstract] | ||
Common stock, shares authorized | 750,000,000 | 750,000,000 |
Common stock, shares increased ratio, Description | Company's authorized number of shares of common stock from 75 million to 750 million and increasing all of its issued and outstanding shares of common stock at a ratio of ten (10) shares for every one (1) share held. |
BASIS OF PRESENTATION AND GOI11
BASIS OF PRESENTATION AND GOING CONCERN (Detail Textuals) - USD ($) | Oct. 31, 2016 | Jan. 31, 2016 |
Basis of Presentation and Going Concern [Abstract] | ||
Accumulated deficit | $ (133,511) | $ (80,963) |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Detail Textuals) - USD ($) | 1 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Oct. 31, 2016 | Oct. 31, 2015 | Jan. 31, 2016 | Aug. 28, 2015 | |
Related Party Transaction [Line Items] | |||||
Advances and loans from related parties | $ 82,365 | $ 34,764 | |||
Accrued interest rate of loan | 8.00% | ||||
Proceeds from related parties | $ 47,601 | $ 8,600 | |||
Accrued interest payable | 3,615 | ||||
New officer and director | Unsecured Debt | Loan Agreement | |||||
Related Party Transaction [Line Items] | |||||
Loan amount | 47,115 | $ 50,000 | |||
Proceeds from related parties | 12,351 | ||||
Green Vision Biotechnology | Unsecured Debt | Loan Agreement | |||||
Related Party Transaction [Line Items] | |||||
Loan amount | 35,250 | ||||
Accrued interest rate of loan | 8.00% | ||||
Accrued interest payable | $ 1,058 |