Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Nov. 30, 2015 | Jan. 14, 2016 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Nov. 30, 2015 | |
Trading Symbol | beut | |
Entity Registrant Name | Science to Consumers, Inc. | |
Entity Central Index Key | 1,583,671 | |
Current Fiscal Year End Date | --05-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 31,920,000 | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well Known Seasoned Issuer | No | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q2 |
CONDENSED BALANCE SHEETS
CONDENSED BALANCE SHEETS - USD ($) | Nov. 30, 2015 | May. 31, 2015 |
Current Assets | ||
Cash and cash equivalents | $ 614 | $ 1,749 |
Total Current Assets | 614 | 1,749 |
Website development costs, net | 10,162 | 0 |
Total Assets | 10,776 | 1,749 |
Current Liabilities | ||
Accounts payable | 18,765 | 0 |
Accrued liabilities | 500 | 0 |
Loan from director | 8,891 | 8,891 |
Total Liabilities | 28,156 | 8,891 |
Stockholders' Deficit | ||
Common stock, par value $0.001; 525,000,000 shares authorized, 29,920,000 shares (May 31, 2015 - 29,900,000 shares) issued and outstanding; | 29,920 | 29,900 |
Additional paid in capital | 67,080 | 61,100 |
Accumulated deficit | (114,380) | (98,142) |
Total Stockholders' Deficit | (17,380) | (7,142) |
Total Liabilities and Stockholders' Deficit | $ 10,776 | $ 1,749 |
CONDENSED BALANCE SHEETS (Paren
CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares | Nov. 30, 2015 | May. 31, 2015 |
Common Stock, Par Value | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 525,000,000 | 525,000,000 |
Common Stock, Shares Issued | 29,920,000 | 29,900,000 |
Common Stock, Shares Outstanding | 29,920,000 | 29,900,000 |
CONDENSED STATEMENTS OF OPERATI
CONDENSED STATEMENTS OF OPERATIONS - USD ($) | 3 Months Ended | 6 Months Ended | ||
Nov. 30, 2015 | Nov. 30, 2014 | Nov. 30, 2015 | Nov. 30, 2014 | |
REVENUES | $ 0 | $ 0 | $ 0 | $ 0 |
OPERATING EXPENSES | ||||
Advertising and Promotion | 0 | 0 | 0 | 15 |
Amortization Expense | 290 | 0 | 290 | 0 |
Bank Service Charges | 0 | 60 | 0 | 120 |
Professional Fees | 11,831 | 25,327 | 15,948 | 28,990 |
TOTAL OPERATING EXPENSES | 12,121 | 25,387 | 16,238 | 29,125 |
NET LOSS FROM OPERATIONS | (12,121) | (25,387) | (16,238) | (29,125) |
PROVISION FOR INCOME TAXES | 0 | 0 | 0 | 0 |
NET LOSS | $ (12,121) | $ (25,387) | $ (16,238) | $ (29,125) |
NET LOSS PER SHARE: BASIC AND DILUTED | $ 0 | $ 0 | $ 0 | $ 0 |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED | 29,917,802 | 29,872,527 | 29,908,852 | 29,900,000 |
CONDENSED STATEMENTS OF CASH FL
CONDENSED STATEMENTS OF CASH FLOWS - USD ($) | 6 Months Ended | |
Nov. 30, 2015 | Nov. 30, 2014 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss for the period | $ (16,238) | $ (29,125) |
Adjustments to reconcile net loss: | ||
Amortization | 290 | 0 |
Changes in assets and liabilities: | ||
Accounts payable and accrued liabilities | 19,265 | 0 |
CASH FLOWS USED IN OPERATING ACTIVITIES | 3,317 | (29,125) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Website | (10,452) | 0 |
CASH FLOWS PROVIDED BY INVESTING ACTIVITIES | (10,452) | 0 |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Loans from director | 0 | 1,998 |
Proceeds from sale of common stock | 6,000 | 45,000 |
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES | 6,000 | 46,998 |
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (1,135) | 17,873 |
Cash and cash equivalents, beginning of period | 1,749 | 5,171 |
Cash and cash equivalents, end of period | 614 | 23,044 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Interest paid | 0 | 0 |
Income taxes paid | $ 0 | $ 0 |
ORGANIZATION AND NATURE OF BUSI
ORGANIZATION AND NATURE OF BUSINESS | 6 Months Ended |
Nov. 30, 2015 | |
ORGANIZATION AND NATURE OF BUSINESS [Text Block] | NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS Science to Consumers, Inc. is a start-up company registered in the State of Nevada on April 15, 2013 formed to distribute Argan Oil products. Science to Consumers, Inc. will position itself to take full advantage of the distributing Argan oil products from manufacturers to customers. |
CONDENSED FINANCIAL STATEMENTS
CONDENSED FINANCIAL STATEMENTS | 6 Months Ended |
Nov. 30, 2015 | |
CONDENSED FINANCIAL STATEMENTS [Text Block] | NOTE 2 - CONDENSED FINANCIAL STATEMENTS The accompanying financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial positions, results of operations, and cash flows on November 30, 2015, and for all periods presented herein, have been made. Certain information and footnote disclosures normally included in the financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s May 31, 2015 audited financial statements. The results of operations for the six months ended November 30, 2015 are not necessarily indicative of the operating results for the full year. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Nov. 30, 2015 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Text Block] | NOTE 3 – SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES Basis of Presentation The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. Accounting Basis The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (“GAAP” accounting). The Company has adopted a May 31 fiscal year end. Cash and Cash Equivalents The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company had $614 of cash as of November 30, 2015 and $1,749 of cash as of May 31, 2015. Fair Value of Financial Instruments The Company’s financial instruments consist of cash and cash equivalents, accounts payable, accrued liabilities, and loan from director. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements. Website Development Costs Website development costs consist of costs incurred to develop internet websites to promote, advertise, and earn revenue with respect to the Company’s business operations. Costs are amortized on a straight line basis over 3 years from when the internet web site has been completed. Income Taxes Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. 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 the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. Revenue Recognition The Company recognizes revenue when products are fully delivered or services have been provided and collection is reasonably assured. Stock-Based Compensation Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options. Basic Income (Loss) Per Share Basic income (loss) per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company’s net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are no such common stock equivalents outstanding as of November 30, 2015 and May 31, 2015. Comprehensive Income The Company has which established standards for reporting and display of comprehensive income, its components and accumulated balances. When applicable, the Company would disclose this information on its Statement of Stockholders’ Equity. Comprehensive income comprises equity except those resulting from investments by owners and distributions to owners. The Company has not had any significant transactions that are required to be reported in other comprehensive income. |
GOING CONCERN
GOING CONCERN | 6 Months Ended |
Nov. 30, 2015 | |
GOING CONCERN [Text Block] | NOTE 4 – GOING CONCERN The accompanying financial statements have been prepared in conformity with generally accepted accounting principle, which contemplate continuation of the Company as a going concern. However, the Company had no revenues as of November 30, 2015. The Company currently has limited working capital, and has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time. Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses The Company intends to position itself so that it may be able to raise additional funds through the capital markets. In light of management’s efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern. |
LOAN FROM DIRECTOR
LOAN FROM DIRECTOR | 6 Months Ended |
Nov. 30, 2015 | |
LOAN FROM DIRECTOR [Text Block] | NOTE 5 – LOAN FROM DIRECTOR As of November 30, 2015, the Company owed a director of the Company $8,891 (May 31, 2015 - $8,891) related to a loan to the Company for business operations. The loans are unsecured, non-interest bearing and due on demand. |
COMMON STOCK
COMMON STOCK | 6 Months Ended |
Nov. 30, 2015 | |
COMMON STOCK [Text Block] | NOTE 6 – COMMON STOCK The Company has 525,000,000, $0.001 par value shares of common stock authorized. On September 11, 2015, the Company issued 20,000 shares of stock at $0.30 per share for cash proceeds of $6,000. There were 29,920,000 shares of common stock issued and outstanding as of November 30, 2015. |
WARRANTS
WARRANTS | 6 Months Ended |
Nov. 30, 2015 | |
WARRANTS [Text Block] | NOTE 7 – WARRANTS The following table summarizes the continuity of share purchase warrants: Weighted Average Number of Exercise Price Warrants $ Balance, May 31, 2014 – – Issued 150,000 0.50 Balance, May 31, 2015 and November 30, 2015 150,000 0.50 As at November 30, 2015, the following share purchase warrants were outstanding: Exercise Price Weighted Average Number of Warrants $ Expiry Date Remaining Life (years) 50,000 0.50 September 17, 2017 1.80 100,000 0.50 September 18, 2017 1.80 150,000 1.80 |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 6 Months Ended |
Nov. 30, 2015 | |
COMMITMENTS AND CONTINGENCIES [Text Block] | NOTE 8 – COMMITMENTS AND CONTINGENCIES The Company neither owns nor leases any real or personal property. An officer has provided office services without charge. There is no obligation for the officer to continue this arrangement. Such costs are immaterial to the financial statements and accordingly are not reflected herein. The officers and directors are involved in other business activities and most likely will become involved in other business activities in the future. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 6 Months Ended |
Nov. 30, 2015 | |
SUBSEQUENT EVENTS [Text Block] | NOTE 9 – SUBSEQUENT EVENTS On December 29, 2015, the Company entered into an exclusive license agreement with Biomatrix Inc., an Arizona corporation, pursuant to which the Company obtained the exclusive rights to sell certain proprietary skincare products of Biomatrix by direct to consumer marketing and sales in the territories of China and Europe. In consideration for the marketing, sales and distribution services to be provided by the Company, Biomatrix has agreed to supply product inventory at a rate not less favorable than that provided to any third party. Additional, Biomatrix has agreed to transfer to the Company 100% equity ownership of Biomatrix Inc., which holds all right and title to the product distribution rights acquired. In consideration of transfer of title and rights acquired, the Company issued 2,000,000 restricted shares of common stock. Upon closing of the transaction, Biomatrix will become a wholly owned subsidiary of the Company. The initial term of the exclusive license agreement is 5 years, subject to the Company achieving minimum sales of $250,000 and $500,000 during the first and second years of the agreement, respectively. Thereafter, the term will automatically renew for successive 5 year periods provided that the Company achieve a minimum $500,000 in sales of the licensed products during each calendar year of the term, excluding the first year. In accordance with SFAS 165 (ASC 855-10) the Company has analyzed its operations subsequent to November 30, 2015 to the date these financial statements were issued. |
Summary of Significant Accoun15
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Nov. 30, 2015 | |
Basis of Presentation [Policy Text Block] | Basis of Presentation The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. |
Accounting Basis [Policy Text Block] | Accounting Basis The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (“GAAP” accounting). The Company has adopted a May 31 fiscal year end. |
Cash and Cash Equivalents [Policy Text Block] | Cash and Cash Equivalents The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company had $614 of cash as of November 30, 2015 and $1,749 of cash as of May 31, 2015. |
Fair Value of Financial Instruments [Policy Text Block] | Fair Value of Financial Instruments The Company’s financial instruments consist of cash and cash equivalents, accounts payable, accrued liabilities, and loan from director. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements. |
Website Development Costs [Policy Text Block] | Website Development Costs Website development costs consist of costs incurred to develop internet websites to promote, advertise, and earn revenue with respect to the Company’s business operations. Costs are amortized on a straight line basis over 3 years from when the internet web site has been completed. |
Income Taxes [Policy Text Block] | Income Taxes Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. |
Use of Estimates [Policy Text Block] | 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 the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Revenue Recognition [Policy Text Block] | Revenue Recognition The Company recognizes revenue when products are fully delivered or services have been provided and collection is reasonably assured. |
Stock-based Compensation [Policy Text Block] | Stock-Based Compensation Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options. |
Basic Income (Loss) Per Share [Policy Text Block] | Basic Income (Loss) Per Share Basic income (loss) per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company’s net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are no such common stock equivalents outstanding as of November 30, 2015 and May 31, 2015. |
Comprehensive Income [Policy Text Block] | Comprehensive Income The Company has which established standards for reporting and display of comprehensive income, its components and accumulated balances. When applicable, the Company would disclose this information on its Statement of Stockholders’ Equity. Comprehensive income comprises equity except those resulting from investments by owners and distributions to owners. The Company has not had any significant transactions that are required to be reported in other comprehensive income. |
WARRANTS (Tables)
WARRANTS (Tables) | 6 Months Ended |
Nov. 30, 2015 | |
Schedule of Share Purchase Warrants, Activity [Table Text Block] | Weighted Average Number of Exercise Price Warrants $ Balance, May 31, 2014 – – Issued 150,000 0.50 Balance, May 31, 2015 and November 30, 2015 150,000 0.50 |
Schedule of Purchase Warrants Outstanding [Table Text Block] | Exercise Price Weighted Average Number of Warrants $ Expiry Date Remaining Life (years) 50,000 0.50 September 17, 2017 1.80 100,000 0.50 September 18, 2017 1.80 150,000 1.80 |
SUMMARY OF SIGNIFICANT ACCOUN17
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) | 6 Months Ended |
Nov. 30, 2015USD ($)yr | |
Summary Of Significant Accounting Policies 1 | $ 614 |
Summary Of Significant Accounting Policies 2 | $ 1,749 |
Summary Of Significant Accounting Policies 3 | yr | 3 |
LOAN FROM DIRECTOR (Narrative)
LOAN FROM DIRECTOR (Narrative) (Details) | 6 Months Ended |
Nov. 30, 2015USD ($) | |
Loan From Director 1 | $ 8,891 |
Loan From Director 2 | $ 8,891 |
COMMON STOCK (Narrative) (Detai
COMMON STOCK (Narrative) (Details) | 6 Months Ended |
Nov. 30, 2015USD ($)$ / sharesshares | |
Common Stock 1 | 525,000,000 |
Common Stock 2 | $ | $ 0.001 |
Common Stock 3 | shares | 20,000 |
Common Stock 4 | $ / shares | $ 0.30 |
Common Stock 5 | $ | $ 6,000 |
Common Stock 6 | shares | 29,920,000 |
SUBSEQUENT EVENTS (Narrative) (
SUBSEQUENT EVENTS (Narrative) (Details) | 6 Months Ended |
Nov. 30, 2015USD ($)yrshares | |
Subsequent Events 1 | 100.00% |
Subsequent Events 2 | shares | 2,000,000 |
Subsequent Events 3 | yr | 5 |
Subsequent Events 4 | $ 250,000 |
Subsequent Events 5 | $ 500,000 |
Subsequent Events 6 | yr | 5 |
Subsequent Events 7 | $ 500,000 |
Schedule of Share Purchase Warr
Schedule of Share Purchase Warrants, Activity (Details) | 6 Months Ended |
Nov. 30, 2015USD ($) | |
Warrants Schedule Of Share Purchase Warrants, Activity 1 | $ 0 |
Warrants Schedule Of Share Purchase Warrants, Activity 2 | 0 |
Warrants Schedule Of Share Purchase Warrants, Activity 3 | $ 150,000 |
Warrants Schedule Of Share Purchase Warrants, Activity 4 | 0.50 |
Warrants Schedule Of Share Purchase Warrants, Activity 5 | $ 150,000 |
Warrants Schedule Of Share Purchase Warrants, Activity 6 | 0.50 |
Schedule of Purchase Warrants O
Schedule of Purchase Warrants Outstanding (Details) | 6 Months Ended |
Nov. 30, 2015USD ($) | |
Warrants Schedule Of Purchase Warrants Outstanding 1 | $ 50,000 |
Warrants Schedule Of Purchase Warrants Outstanding 2 | 0.50 |
Warrants Schedule Of Purchase Warrants Outstanding 3 | 1.80 |
Warrants Schedule Of Purchase Warrants Outstanding 4 | $ 100,000 |
Warrants Schedule Of Purchase Warrants Outstanding 5 | 0.50 |
Warrants Schedule Of Purchase Warrants Outstanding 6 | 1.80 |
Warrants Schedule Of Purchase Warrants Outstanding 7 | $ 150,000 |
Warrants Schedule Of Purchase Warrants Outstanding 8 | 1.80 |