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% |