Apex 11 10-K 25 Jun 21 2019 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2019	Jun. 24, 2021
Cover [Abstract]
Entity Registrant Name	APEX 11 INC.
Document Type	10-K
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Central Index Key	0001578329
Document Period End Date	Dec. 31, 2019
Entity Incorporation, State or Country Code	DE
Entity File Number	333-213197
Entity Current Reporting Status	No
Entity Interactive Data Current	No
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	true
Entity Common Stock, Shares Outstanding		21,534,014
Entity Public Float	$ 0
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2019

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Dec. 31, 2019	Dec. 31, 2018
ASSETS
Receivable from controlling stockholder		$ 1,042
CURRENT LIABILITIES
Accrued expenses		76
STOCKHOLDERS' EQUITY
Preferred stock; $.0001 par value; 5,000,000 shares authorized; none issued and outstanding, respectively
Common stock; $.0001 par value; 100,000,000 shares authorized; 21,534,014 and 15,647,216 issued and outstanding, respectively	2,153	1,565
Additional paid-in capital	67,750	41,307
Accumulated deficit	(69,903)	(41,906)
Total stockholders' equity		966
Total liabilities and stockholders' equity		$ 1,042

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Preferred stock par value (in dollars per share)	$ .0001	$ .0001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock par value (in dollars per share)	$ .0001	$ .0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	21,534,014	15,647,216
Common stock, shares outstanding	21,534,014	15,647,216

STATEMENTS OF OPERATIONS

STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
OPERATING EXPENSES
General and administrative	$ 27,997	$ 22,635
NET LOSS	$ (27,997)	$ (22,635)
Basic and diluted loss per common share (in dollars per share)	$ 0	$ 0
Basic and diluted weighted-average common shares outstanding (in shares)	15,663,344	10,015,472

STATEMENTS OF STOCKHOLDERS' EQU

STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIENCY) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Total
Balance at beginning at Dec. 31, 2017	$ 1,000	$ 15,941	$ (19,271)	$ (2,330)
Balance at beginning (in shares) at Dec. 31, 2017	10,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock	$ 565	25,366	25,931
Issuance of common stock (in shares)	5,647,216			5,647,216
Net loss			(22,635)	$ (22,635)
Balance at ending at Dec. 31, 2018	$ 1,565	41,307	(41,906)	$ 966
Balances at ending (in shares) at Dec. 31, 2018	15,647,216			15,647,216
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock	$ 588	26,443		$ 27,031
Issuance of common stock (in shares)	5,886,798			5,886,798
Net loss			(27,997)	$ (27,997)
Balance at ending at Dec. 31, 2019	$ 2,153	$ 67,750	$ (69,903)
Balances at ending (in shares) at Dec. 31, 2019	21,534,014			21,534,014

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
OPERATING ACTIVITIES
Net loss	$ (27,997)	$ (22,635)
Adjustments to reconcile net loss to net cash provided by operating activities:
Cash advances on controlling stockholder payable		24,494
Repayment of controlling stockholder payable	1,042
Issuance of common stock in settlement of controlling stockholder payable	27,031
Changes in operating assets and liabilities:
Accrued expenses	(76)	(1,859)
Cash flows from operating activities
Cash flows from investing activities
Cash flows from financing activities
NET CHANGE IN CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS, Beginning of year
CASH AND CASH EQUIVALENTS, End of year
NON CASH FINANCING ACTIVITY
Issuance of common stock in settlement of stockholder payable	27,031	25,931
Receivable recorded as a result of sale of common stock to controlling stockholder		$ 1,042

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization Cash and Cash Equivalents Revenue Recognition Earnings (Loss) Per Share Income Taxes The Company accounts for any uncertainty in income taxes by recognizing the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The application of income tax law is inherently complex. Laws and regulations in this area are voluminous and are often ambiguous. As such, the Company is required to make subjective assumptions and judgments regarding income tax exposures. Interpretations of and guidance surrounding income tax law and regulations change over time and may result in changes to the Company's subjective assumptions and judgments which can materially affect amounts recognized in the financial statements. The Company believes that it does not have any uncertain tax positions that are material to the financial statements. Use of Estimates Going Concern Subsequent Events

CONTROLLING STOCKHOLDER RECEIVA

CONTROLLING STOCKHOLDER RECEIVABLE AND PAYABLE	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
CONTROLLING STOCKHOLDER RECEIVABLE AND PAYABLE	2. CONTROLLING STOCKHOLDER RECEIVABLE AND PAYABLE As of December 31, 2018, the Company has a receivable of $1,042 from its controlling stockholder and this receivable was repaid subsequent to December 31, 2018. The receivable is related to advances to fund operations, was fully paid in May 2019, and was non-interest bearing.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2019
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY	3. STOCKHOLDERS' EQUITY Preferred Stock – The Company is authorized to issue 5,000,000 shares of $.0001 par value preferred stock. As of December 31, 2019 and 2018, no shares of preferred stock have been issued. Common Stock – The Company is authorized to issue 100,000,000 shares of $.0001 par value common stock. As of December 31, 2019 and 2018, 21,534,014 and 15,647,216 shares were issued and outstanding, respectively. During the year ended December 31, 2019, the Company issued 5,886,798 shares of common stock to its controlling stockholder in exchange for settlement of $27,031 in accounts payable. During the year ended December 31, 2018, the Company issued 5,647,216 shares of common stock to its controlling stockholder in exchange for settlement of $25,931 in accounts payable.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	4. INCOME TAXES Significant components of the Company's deferred income tax assets and liabilities are as follows at December 31: 2019 2018 Deferred income tax asset – net operating loss carryforward $ 18,105 $ 10,854 Valuation allowance (18,105 ) (10,854 ) Net deferred income tax asset $ — $ — At December 31, 2019, the Company had approximately $70,000 of net operating loss (NOL) carryforwards available to offset future taxable income, which begin to expire in 2033. However, a valuation allowance has been recorded reducing the NOL net deferred tax asset to zero because of uncertainty as to the ultimate utilization of the net operating losses to which it relates. The valuation allowance increased by $12,242 and $5,862 in 2019 and 2018, respectively. The income tax benefit differed from the amount computed using the statutory federal rate of 21% due primarily to the change in the valuation allowance during 2019 and 2018.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	5. SUBSEQUENT EVENTS On January 30, 2020, the World Health Organization (WHO) announced a global health emergency because of a new strain of coronavirus originating in Wuhan, China (the COVID-19 outbreak) and the risks to the international community as the virus spreads globally beyond its point of origin. In March 2020, the WHO classified the COVID-19 outbreak as a pandemic, based on the rapid increase in exposure globally. The full impact of the COVID-19 outbreak continues to evolve as of the date of this report. As such, it is uncertain as to the full magnitude that the pandemic will have on the Company’s financial condition, liquidity, and future results of operations. Management is actively monitoring the global situation on its financial condition, and operations. Currently, the Company is not expecting any negative impact from the pandemic because the market for public shell companies appears to remain strong.

ORGANIZATION AND SUMMARY OF S_2

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Cash and Cash Equivalents	Cash and Cash Equivalents
Revenue Recognition	Revenue Recognition
Earnings (Loss) Per Share	Earnings (Loss) Per Share
Income Taxes	Income Taxes The Company accounts for any uncertainty in income taxes by recognizing the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The application of income tax law is inherently complex. Laws and regulations in this area are voluminous and are often ambiguous. As such, the Company is required to make subjective assumptions and judgments regarding income tax exposures. Interpretations of and guidance surrounding income tax law and regulations change over time and may result in changes to the Company's subjective assumptions and judgments which can materially affect amounts recognized in the financial statements. The Company believes that it does not have any uncertain tax positions that are material to the financial statements.
Use of Estimates	Use of Estimates
Going Concern	Going Concern
Subsequent Events	Subsequent Events

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Schedule of deferred income tax assets and liabilities	Significant components of the Company's deferred income tax assets and liabilities are as follows at December 31: 2019 2018 Deferred income tax asset – net operating loss carryforward $ 18,105 $ 10,854 Valuation allowance (18,105 ) (10,854 ) Net deferred income tax asset $ — $ —

ORGANIZATION AND SUMMARY OF S_3

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Date of incorporated	May 20, 2013

CONTROLLING STOCKHOLDER RECEI_2

CONTROLLING STOCKHOLDER RECEIVABLE AND PAYABLE (Details Narrative)	Dec. 31, 2018USD ($)
Related Party Transactions [Abstract]
Receivable from controlling stockholder	$ 1,042

STOCKHOLDERS' EQUITY (Details N

STOCKHOLDERS' EQUITY (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
STOCKHOLDERS' EQUITY
Preferred stock par value (in dollars per share)	$ .0001	$ .0001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock par value (in dollars per share)	$ .0001	$ .0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	21,534,014	15,647,216
Common stock, shares outstanding	21,534,014	15,647,216
Issuance of common stock in settlement of stockholder payable	$ 27,031	$ 25,931
Issuance of common stock (in shares)	5,886,798	5,647,216

INCOME TAXES (Detaills)

INCOME TAXES (Detaills) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Deferred income tax asset - net operating loss carryforward	$ 18,105	$ 10,854
Valuation allowance	(18,105)	(10,854)
Net deferred income tax asset

INCOME TAXES (Detaills Narrativ

INCOME TAXES (Detaills Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Net operating loss (NOL) carryforwards	$ 70,000
Expiration date	Dec. 31, 2033
Valuation allowance increased	$ 12,242	$ 5,862
Statutory federal rate	21.00%