Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Feb. 29, 2016 | May. 17, 2016 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Feb. 29, 2016 | |
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 | Q3 |
CONDENSED BALANCE SHEETS
CONDENSED BALANCE SHEETS - USD ($) | Feb. 29, 2016 | May. 31, 2015 |
Current Assets | ||
Cash and cash equivalents | $ 0 | $ 1,749 |
Total Current Assets | 0 | 1,749 |
Website development costs | 9,871 | 0 |
Total Assets | 9,871 | 1,749 |
Current Liabilities | ||
Accounts payable | 24,304 | 0 |
Due to related party | 5,698 | 0 |
Loan from director | 8,891 | 8,891 |
Total Liabilities | 38,893 | 8,891 |
Stockholders' Deficit | ||
Common stock, par value $0.001; 525,000,000 shares authorized, 31,943,833 shares (May 31, 2015 - 29,900,000 shares) issued and outstanding; | 31,944 | 29,900 |
Additional paid in capital | 72,206 | 61,100 |
Accumulated deficit | (133,172) | (98,142) |
Total Stockholders' Deficit | (29,022) | (7,142) |
Total Liabilities and Stockholders' Deficit | $ 9,871 | $ 1,749 |
CONDENSED BALANCE SHEETS (Paren
CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares | Feb. 29, 2016 | 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 | 31,943,833 | 29,900,000 |
Common Stock, Shares Outstanding | 31,943,833 | 29,900,000 |
CONDENSED STATEMENTS OF OPERATI
CONDENSED STATEMENTS OF OPERATIONS - USD ($) | 3 Months Ended | 9 Months Ended | ||
Feb. 29, 2016 | Feb. 28, 2015 | Feb. 29, 2016 | Feb. 28, 2015 | |
REVENUES | $ 0 | $ 0 | $ 0 | $ 0 |
OPERATING EXPENSES | ||||
Advertising and Promotion | 0 | 0 | 0 | 15 |
Amortization Expense | 291 | 0 | 581 | 0 |
Bank Service Charges | 0 | 48 | 0 | 169 |
Professional Fees | 18,501 | 11,866 | 34,449 | 40,856 |
TOTAL OPERATING EXPENSES | 18,792 | 11,914 | 35,030 | 41,040 |
NET LOSS FROM OPERATIONS | (18,792) | (11,914) | (35,030) | (41,040) |
PROVISION FOR INCOME TAXES | 0 | 0 | 0 | 0 |
NET LOSS | $ (18,792) | $ (11,914) | $ (35,030) | $ (41,040) |
NET LOSS PER SHARE: BASIC AND DILUTED | $ 0 | $ 0 | $ 0 | $ 0 |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED | 31,568,000 | 29,900,000 | 30,465,000 | 29,900,000 |
CONDENSED STATEMENTS OF CASH FL
CONDENSED STATEMENTS OF CASH FLOWS - USD ($) | 9 Months Ended | |
Feb. 29, 2016 | Feb. 28, 2015 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss for the period | $ (35,030) | $ (41,040) |
Adjustments to reconcile net loss: | ||
Amortization | 581 | 0 |
Changes in assets and liabilities: | ||
Accounts payable and accrued liabilities | 13,852 | 0 |
CASH FLOWS USED IN OPERATING ACTIVITIES | (20,597) | (41,040) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Advances from related party | 5,698 | 0 |
Loans from director | 0 | 674 |
Proceeds from sale of common stock | 13,150 | 45,000 |
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES | 18,848 | 45,674 |
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (1,749) | 4,634 |
Cash and cash equivalents, beginning of period | 1,749 | 5,171 |
Cash and cash equivalents, end of period | 0 | 9,805 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Interest paid | 0 | 0 |
Income taxes paid | $ 0 | $ 0 |
ORGANIZATION AND NATURE OF BUSI
ORGANIZATION AND NATURE OF BUSINESS | 9 Months Ended |
Feb. 29, 2016 | |
ORGANIZATION AND NATURE OF BUSINESS [Text Block] | NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS Science to Consumers, Inc. is a development stage 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. In addition, the Company signed a five-year exclusive licensing agreement with Biomatrix, Inc. for the People’s Republic of China and Europe. Science to Consumers, Inc., is also focused on anti-aging and good-for-your-body products. The agreement will allow Science to Consumers Inc., to market and sell at least six of its special formulated anti-aging products including the DermaLastyl line. |
CONDENSED FINANCIAL STATEMENTS
CONDENSED FINANCIAL STATEMENTS | 9 Months Ended |
Feb. 29, 2016 | |
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 February 29, 2016, 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 nine months ended February 29, 2016 are not necessarily indicative of the operating results for the full year. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Feb. 29, 2016 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Text Block] | NOTE 3 – SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES Basis of Presentation Accounting Basis Cash and Cash Equivalents Fair Value of Financial Instruments Website Development Costs Income Taxes Use of Estimates Revenue Recognition Stock-Based Compensation Basic Income (Loss) Per Share Comprehensive Income |
GOING CONCERN
GOING CONCERN | 9 Months Ended |
Feb. 29, 2016 | |
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 February 29, 2016. The Company currently has working capital deficit, 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. |
LICENSE AGREEMENT DEPOSIT
LICENSE AGREEMENT DEPOSIT | 9 Months Ended |
Feb. 29, 2016 | |
LICENSE AGREEMENT DEPOSIT [Text Block] | NOTE 5 – LICENSE AGREEMENT DEPOSIT On December 29, 2015, the Company entered into an exclusive license agreement with Biomatrix Inc. (“Biomatrix”), a Delaware 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. Additionally, Biomatrix has agreed to transfer to the Company 100% equity ownership of Biomatrix Inc. (“Biomatrix Arizona”), an Arizona corporation, 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 to Biomatirx. Upon closing of the transaction, Biomatrix Arizona will become a wholly owned subsidiary of the Company. As of February 29, 2016, the transaction had not closed and the Company has not received ownership of the Biomatrix Arizona equity. 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. On December 16, 2015, the Company issued Biomatrix 2,000,000 shares of the Company’s common stock pursuant to the license agreement. As of February 29, 2016, the shares of Biomatrix Arizona were not received by the Company and the transaction had not closed. Due to the value of Biomatrix Arizona and the Company’s uncertain future revenues generated by the license, the fair value of the 2,000,000 shares issued has been recorded as $nil. |
DUE TO RELATED PARTY
DUE TO RELATED PARTY | 9 Months Ended |
Feb. 29, 2016 | |
DUE TO RELATED PARTY [Text Block] | NOTE 6 – DUE TO RELATED PARTY As of February 29, 2016, the Company was indebted to the Chief Executive Officer of the Company for $5,698 (May 31, 2015 - $nil), for expenses paid on behalf of the Company. The amount is unsecured, non-interest bearing and due on demand. |
LOAN FROM DIRECTOR
LOAN FROM DIRECTOR | 9 Months Ended |
Feb. 29, 2016 | |
LOAN FROM DIRECTOR [Text Block] | NOTE 7 – LOAN FROM DIRECTOR As of February 29, 2016, 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 loan is unsecured, non-interest bearing and due on demand. |
COMMON STOCK
COMMON STOCK | 9 Months Ended |
Feb. 29, 2016 | |
COMMON STOCK [Text Block] | NOTE 8 – 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. On December 16, 2015, the Company issued 2,000,000 restricted shares to Biomatrix, Inc. with a fair value of $nil pursuant to the license agreement referred to Note 5. On December 16, 2015, the Company issued 15,500 shares of stock at $0.30 per share for cash proceeds of $4,650. On January 20, 2016, the Company issued 8,333 shares of stock at $0.30 per share for cash proceeds of $2,500. There were 31,943,833 shares of common stock issued and outstanding as of February 29, 2016. |
WARRANTS
WARRANTS | 9 Months Ended |
Feb. 29, 2016 | |
WARRANTS [Text Block] | NOTE 9 – 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 February 29, 2016 150,000 0.50 As at February 29, 2016, 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 1.55 100,000 0.50 September 18, 2017 1.55 150,000 1.55 |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 9 Months Ended |
Feb. 29, 2016 | |
COMMITMENTS AND CONTINGENCIES [Text Block] | NOTE 10 – 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 | 9 Months Ended |
Feb. 29, 2016 | |
SUBSEQUENT EVENTS [Text Block] | NOTE 11 – SUBSEQUENT EVENTS In accordance with SFAS 165 (ASC 855-10) the Company has analyzed its operations subsequent to February 29, 2016 to the date these financial statements were issued. |
Summary of Significant Accoun17
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Feb. 29, 2016 | |
Basis of Presentation [Policy Text Block] | Basis of Presentation |
Accounting Basis [Policy Text Block] | Accounting Basis |
Cash and Cash Equivalents [Policy Text Block] | Cash and Cash Equivalents |
Fair Value of Financial Instruments [Policy Text Block] | Fair Value of Financial Instruments |
Website Development Costs [Policy Text Block] | Website Development Costs |
Income Taxes [Policy Text Block] | Income Taxes |
Use of Estimates [Policy Text Block] | Use of Estimates |
Revenue Recognition [Policy Text Block] | Revenue Recognition |
Stock-Based Compensation [Policy Text Block] | Stock-Based Compensation |
Basic Income (Loss) Per Share [Policy Text Block] | Basic Income (Loss) Per Share |
Comprehensive Income [Policy Text Block] | Comprehensive Income |
WARRANTS (Tables)
WARRANTS (Tables) | 9 Months Ended |
Feb. 29, 2016 | |
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 February 29, 2016 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 1.55 100,000 0.50 September 18, 2017 1.55 150,000 1.55 |
SUMMARY OF SIGNIFICANT ACCOUN19
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) | 9 Months Ended |
Feb. 29, 2016USD ($)yr | |
Summary Of Significant Accounting Policies 1 | $ 0 |
Summary Of Significant Accounting Policies 2 | $ 1,749 |
Summary Of Significant Accounting Policies 3 | yr | 3 |
LICENSE AGREEMENT DEPOSIT (Narr
LICENSE AGREEMENT DEPOSIT (Narrative) (Details) | 9 Months Ended |
Feb. 29, 2016USD ($)yrshares | |
License Agreement Deposit 1 | 100.00% |
License Agreement Deposit 2 | shares | 2,000,000 |
License Agreement Deposit 3 | yr | 5 |
License Agreement Deposit 4 | $ 250,000 |
License Agreement Deposit 5 | $ 500,000 |
License Agreement Deposit 6 | yr | 5 |
License Agreement Deposit 7 | $ 500,000 |
License Agreement Deposit 8 | shares | 2,000,000 |
License Agreement Deposit 9 | shares | 2,000,000 |
License Agreement Deposit 10 | $ 0 |
DUE TO RELATED PARTY (Narrative
DUE TO RELATED PARTY (Narrative) (Details) | 9 Months Ended |
Feb. 29, 2016USD ($) | |
Due To Related Party 1 | $ 5,698 |
Due To Related Party 2 | $ 0 |
LOAN FROM DIRECTOR (Narrative)
LOAN FROM DIRECTOR (Narrative) (Details) | 9 Months Ended |
Feb. 29, 2016USD ($) | |
Loan From Director 1 | $ 8,891 |
Loan From Director 2 | $ 8,891 |
COMMON STOCK (Narrative) (Detai
COMMON STOCK (Narrative) (Details) | 9 Months Ended |
Feb. 29, 2016USD ($)$ / 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 | 2,000,000 |
Common Stock 7 | $ | $ 0 |
Common Stock 8 | shares | 15,500 |
Common Stock 9 | $ / shares | $ 0.30 |
Common Stock 10 | $ | $ 4,650 |
Common Stock 11 | shares | 8,333 |
Common Stock 12 | $ / shares | $ 0.30 |
Common Stock 13 | $ | $ 2,500 |
Common Stock 14 | shares | 31,943,833 |
Schedule of Share Purchase Warr
Schedule of Share Purchase Warrants, Activity (Details) | 9 Months Ended |
Feb. 29, 2016USD ($) | |
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) | 9 Months Ended |
Feb. 29, 2016USD ($) | |
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 | 1.55 |
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 | 1.55 |
Warrants Schedule Of Purchase Warrants Outstanding 7 | $ 150,000 |
Warrants Schedule Of Purchase Warrants Outstanding 8 | 1.55 |