Science to Consumers (BEUT) 10-Q 26 Oct 16 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Aug. 31, 2016	Oct. 19, 2016
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Aug. 31, 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	2,017
Document Fiscal Period Focus	Q1

CONDENSED BALANCE SHEETS

CONDENSED BALANCE SHEETS - USD ($)	Aug. 31, 2016	May 31, 2016
Current Assets
Cash and cash equivalents	$ 2,153	$ 3,306
Total Current Assets	2,153	3,306
Website development costs	7,549	8,420
Total Assets	9,702	11,726
Current Liabilities
Accounts payable and accrued liabilities	20,327	16,857
Due to related party	7,702	7,675
Loan from director	8,891	8,891
Loan payable	31,000	31,000
Total Liabilities	67,920	64,423
Stockholders' Deficit
Common stock, par value $0.001; 525,000,000 shares authorized, 31,900,000 shares issued and outstanding	31,900	31,900
Additional paid in capital	59,100	59,100
Stock Subscriptions	13,150	13,150
Accumulated deficit	(162,368)	(156,847)
Total Stockholders' Deficit	(58,218)	(52,697)
Total Liabilities and Stockholders' Deficit	$ 9,702	$ 11,726

CONDENSED BALANCE SHEETS (Paren

CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares	Aug. 31, 2016	May 31, 2016
Condensed Balance Sheets Parenthetical
Common Stock, Par Value	$ 0.001	$ 0.001
Common Stock, Shares Authorized	525,000,000	525,000,000
Common Stock, Shares Issued	31,900,000	31,900,000
Common Stock, Shares Outstanding	31,900,000	31,900,000

CONDENSED STATEMENTS OF OPERATI

CONDENSED STATEMENTS OF OPERATIONS (unaudited) - USD ($)	3 Months Ended
	Aug. 31, 2016	Aug. 31, 2015
Condensed Statements Of Operations
REVENUES
OPERATING EXPENSES
Amortization Expense	871
General and Administrative	1,848
Professional Fees	2,138	4,117
TOTAL OPERATING EXPENSES	4,857	4,117
NET LOSS FROM OPERATIONS	(4,857)	(4,117)
OTHER EXPENSES
Interest Expense	(664)
NET LOSS FROM OPERATIONS BEFORE TAXES	(5,521)	(4,117)
Provision for Income Taxes
NET LOSS	$ (5,521)	$ (4,117)
NET LOSS PER OUTSTANDING SHARE: BASIC AND DILUTED	$ 0	$ 0
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	31,900,000	29,900,000

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended
	Aug. 31, 2016	Aug. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss for the period	$ (5,521)	$ (4,117)
Adjustments to reconcile net loss:
Amortization	871
Changes in assets and liabilities:
Accounts payable and accrued liabilities	3,470	4,117
Due to related parties	27
CASH FLOWS USED IN OPERATING ACTIVITIES	(1,153)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(1,153)
Cash and cash equivalents, beginning of period	3,306	1,749
Cash and cash equivalents, end of period	2,153	1,749
SUPPLEMENTAL CASH FLOW INFORMATION:
Interest paid
Income taxes paid

ORGANIZATION AND NATURE OF BUSI

ORGANIZATION AND NATURE OF BUSINESS	3 Months Ended
	Aug. 31, 2016
Organization And Nature Of Business
1. ORGANIZATION AND NATURE OF BUSINESS	Science to Consumers, Inc. (the “Company”) is a development stage company which registered in the State of Nevada on April 15, 2013 formed to distribute Argan Oil products. In addition, the Company is looking to market, sell, and distribute anti-aging products, as on December 29, 2015 the Company signed a five-year exclusive licensing agreement with Biomatrix, Inc. for the People’s Republic of China and Europe. 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. The Company will position itself to take full advantage of the distributing its products from their manufacturers to their customers.

CONDENSED FINANCIAL STATEMENTS

CONDENSED FINANCIAL STATEMENTS	3 Months Ended
	Aug. 31, 2016
Condensed Financial Statements
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 August 31, 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, 2016 audited financial statements. The results of operations for the three months ended August 31, 2016 are not necessarily indicative of the operating results for the full year.

GOING CONCERN

GOING CONCERN	3 Months Ended
	Aug. 31, 2016
Going Concern
3. GOING CONCERN	The Company has no revenues as of August 31, 2016. The Company currently has accumulated deficit and 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. Accordingly, there is substantial doubt about the Company’s ability to continue as a 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. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that could result from the outcome of this uncertainty. 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.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Aug. 31, 2016
Summary Of Significant Accounting Policies
4. SUMMARY OF SIGNIFICANT 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 $2,153 of cash as of August 31, 2016 and $3,306 of cash as of May 31, 2016. Fair Value of Financial Instruments The Company’s financial instruments consist of cash and cash equivalents, accounts payable, amounts due to a related party, a loan from a director and a loan payable. 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 August 31, 2016 and May 31, 2016. Comprehensive Income ASC 220, “ Comprehensive Income Impact of New Accounting Standards 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.

LICENSE AGREEMENT

LICENSE AGREEMENT	3 Months Ended
	Aug. 31, 2016
License Agreement
5. LICENSE AGREEMENT	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 Biomatrix. Upon closing of the transaction, Biomatrix Arizona will become a wholly owned subsidiary of the Company. As of August 31, 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 to Biomatrix 2,000,000 shares of the Company’s common stock pursuant to the license agreement. As of August 31, 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	3 Months Ended
	Aug. 31, 2016
Due To Related Party
6. DUE TO RELATED PARTY	As of August 31, 2016, the Company was indebted to the Chief Executive Officer of the Company for $7,702 (May 31, 2016 - $7,675), 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	3 Months Ended
	Aug. 31, 2016
Loan From Director
7. LOAN FROM DIRECTOR	As of August 31, 2016, the Company owed a director of the Company $8,891 (May 31, 2016 - $8,891) related to a loan to the Company for business operations. The loan is unsecured, non-interest bearing and due on demand.

LOAN PAYABLE

LOAN PAYABLE	3 Months Ended
	Aug. 31, 2016
Loan Payable
8. LOAN PAYABLE	On May 1, 2016, the Company entered into a loan agreement in which the note holder agreed to provide a loan to the Company in the principal amount of up to $50,000. The loan is unsecured, bears interest at 8.5% per annum and is payable on May 1, 2017. As at August 31, 2016, the note holder has provided $31,000 to the Company pursuant to the loan agreement. As at August 31, 2016, the Company recorded $852 of interest payable (May 31, 2016 - $188).

COMMON STOCK

COMMON STOCK	3 Months Ended
	Aug. 31, 2016
CommonStockAbstract
9. COMMON STOCK	The Company has 525,000,000, $0.001 par value shares of common stock authorized. There were 31,900,000 shares of common stock issued and outstanding as of August 31, 2016.

WARRANTS

WARRANTS	3 Months Ended
	Aug. 31, 2016
Warrants
10. WARRANTS	The following table summarizes the continuity of share purchase warrants: Number of Warrants Weighted Average Exercise Price $ Balance, May 31, 2015 150,000 0.50 Issued – – Balance, May 31, 2016 and August 31, 2016 150,000 0.50 As at August 31, 2016, the following share purchase warrants were outstanding: Number of Warrants Exercise Price $ Expiry Date Weighted Average Remaining Life (years) 50,000 0.50 September 17, 2017 1.05 100,000 0.50 September 18, 2017 1.05 150,000 1.05

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Aug. 31, 2016
Commitments And Contingencies
11. 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	3 Months Ended
	Aug. 31, 2016
Subsequent Events [Abstract]
12. SUBSEQUENT EVENTS	On September 1, 2016 the company signed an Exclusive Distributor Agreement with SHI TU KANG TRADING CO LTD. (STK), located in Nan Sha district, Guangzhou China. STK is a privately owned trading and distribution company, mostly dealing with cosmetic, health & beauty, fragrance and personal care related products. In order to leverage the infrastructure in place with STK, the company will rely on STK’s support of sharing resources, office space and depending on their full assistance to customize packaging, box designs and a private label with the Chinese brand name patent ( 朶米蘭詩 ) for the Chinese market. The agreement states that STK will commit to providing full turnkey services by importing products with valid import licenses from Hong Kong via the Hai Tao Base official platform. STK will also market S2C products to their existing sales channels such as beauty parlors, drugstores, WeChat shops, beauty chain stores and some of their existing online shops. On September 26, 2016, the Company entered into a Convertible Promissory Note agreement for $18,000. The Note bears interest at 10% per annum and the principal amount and any interest thereon are due six months from the date of issuance. Pursuant to the agreement, the Note is convertible into shares of common stock at a conversion price equal to a 20% discount of the average share closing price for the thirty days preceding the date of conversion, not to be below $0.05 per share. In accordance with SFAS 165 (ASC 855-10) the Company has analyzed its operations subsequent to August 31, 2016 to the date these financial statements were issued.

SUMMARY OF SIGNIFCANT ACCOUNTIN

SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Aug. 31, 2016
Summary Of Signifcant Accounting Policies 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 $2,153 of cash as of August 31, 2016 and $3,306 of cash as of May 31, 2016.
Fair Value of Financial Instruments	The Company’s financial instruments consist of cash and cash equivalents, accounts payable, amounts due to a related party, a loan from a director and a loan payable. 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 August 31, 2016 and May 31, 2016.
Comprehensive Income	ASC 220, “ Comprehensive Income
Impact of New Accounting Standards	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.

WARRANTS (Tables)

WARRANTS (Tables)	3 Months Ended
	Aug. 31, 2016
Warrants Tables
Schedule of Share Purchase Warrants, Activity	Number of Warrants Weighted Average Exercise Price $ Balance, May 31, 2015 150,000 0.50 Issued – – Balance, May 31, 2016 and August 31, 2016 150,000 0.50
Schedule of Purchase Warrants Outstanding	Number of Warrants Exercise Price $ Expiry Date Weighted Average Remaining Life (years) 50,000 0.50 September 17, 2017 1.05 100,000 0.50 September 18, 2017 1.05 150,000 1.05

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	3 Months Ended
	Aug. 31, 2016	Aug. 31, 2015
Going Concern Details Narrative
REVENUES

SUMMARY OF SIGNIFICANT ACCOUN21

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	Aug. 31, 2016	May 31, 2016
Summary Of Significant Accounting Policies Details Narrative
Cash and cash equivalents	$ 2,153	$ 3,306

DUE TO RELATED PARTY (Details N

DUE TO RELATED PARTY (Details Narrative) - USD ($)	Aug. 31, 2016	May 31, 2016
Due To Related Party Details Narrative
Due to related party	$ 7,702	$ 7,675

LOAN FROM DIRECTOR (Details Nar

LOAN FROM DIRECTOR (Details Narrative) - USD ($)	Aug. 31, 2016	May 31, 2016
Loan From Director Details Narrative
Loan from director	$ 8,891	$ 8,891

LOAN PAYABLE (Details Narrative

LOAN PAYABLE (Details Narrative) - USD ($)	Aug. 31, 2016	May 31, 2016
Loan Payable Details Narrative
Loan payable	$ 31,000	$ 31,000
Interest payable	$ 852	$ 188

COMMON STOCK (Details Narrative

COMMON STOCK (Details Narrative) - $ / shares	Aug. 31, 2016	May 31, 2016
Common Stock Details Narrative
Common Stock, Par Value	$ 0.001	$ 0.001
Common Stock, Shares Authorized	525,000,000	525,000,000
Common Stock, Shares Issued	31,900,000	31,900,000
Common Stock, Shares Outstanding	31,900,000	31,900,000

WARRANTS (Details)

WARRANTS (Details)	3 Months Ended
	Aug. 31, 2016$ / sharesshares
Warrants Details
Number of Warrants, Biginning | shares	150,000
Number of Warrants issued | shares
Number of Warrants, Ending | shares	150,000
Weighted Average Exercise Price, Beginning | $ / shares	$ 0.50
Weighted Average Exercise Price issued | $ / shares
Weighted Average Exercise Price, Ending | $ / shares	$ 0.50

WARRANTS (Details 1)

WARRANTS (Details 1)	3 Months Ended
	Aug. 31, 2016$ / sharesshares
Number of Warrants	150,000
Weighted Average Remaining Life (years)	1 year 18 days
Warrant [Member]
Number of Warrants	50,000
Exercise Price | $ / shares	$ 0.50
Expiry Date	September 17, 2017
Weighted Average Remaining Life (years)	1 year 18 days
Warrant One [Member]
Number of Warrants	100,000
Exercise Price | $ / shares	$ 0.50
Expiry Date	September 18, 2017
Weighted Average Remaining Life (years)	1 year 18 days