Arias Intel (ASNT) 10-Q 12 Aug 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jun. 30, 2016	Aug. 10, 2016
Document And Entity Information
Entity Registrant Name	First Harvest Corp.
Entity Central Index Key	1,585,755
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity a Well-known Seasoned Issuer	No
Entity a Voluntary Filer	No
Entity's Reporting Status Current	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		4,929,000
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,016

Condensed Balance Sheets (Unaud

Condensed Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2016	Mar. 31, 2016
Current assets:
Cash and cash equivalents
Current liabilities:
Accounts payable	975	2,475
Due to related party	29,743	19,743
Total current liabilities	30,718	22,218
Stockholders' deficit:
Common stock, $0.001 par value, 185,000,000 shares authorized, 4,929,000 and 4,034,000 issued and outstanding as of 6/30/2016 and 3/31/2016, respectively	4,929	4,034
Additional paid-in capital	20,882	21,768
Accumulated deficit	(56,718)	(48,218)
Total stockholders' deficit	(30,718)	(22,218)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT
Series A Preferred Stock [Member]
Stockholders' deficit:
Preferred stock	189	198
Series B Preferred Stock [Member]
Stockholders' deficit:
Preferred stock
Series C Preferred Stock [Member]
Stockholders' deficit:
Preferred stock

Condensed Balance Sheets (Unau3

Condensed Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2016	Mar. 31, 2016
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized	185,000,000	185,000,000
Common stock, issued	4,929,000	4,034,000
Common stock, outstanding	4,929,000	4,034,000
Series A Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, authorized	5,000,000	5,000,000
Preferred stock, issued	188,710	197,660
Preferred stock, outstanding	188,710	197,660
Common stock, issued	188,710
Common stock, outstanding	188,710
Series B Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, authorized	5,000,000	5,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Series C Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, authorized	5,000,000	5,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Income Statement [Abstract]
Revenue
Operating expenses:
General & administrative	8,500	4,375
Total expenses	8,500	4,375
Net loss from operations	(8,500)	(4,375)
Net loss applicable to common shareholders	$ (8,500)	$ (4,375)
Weighted average number of common shares outstanding- basic and diluted (in shares)	4,929,000	3,300,000
Net loss per share - basic and diluted (in dollars per share)	$ 0	$ 0

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
OPERATING ACTIVITIES
Net loss	$ (8,500)	$ (4,375)
Changes in operating assets and liabilities:
Accounts payable	(1,500)	4,375
Cash used by operating activities	(10,000)
FINANCING ACTIVITIES
Proceeds from related party	10,000
Net cash provided by financing activities	10,000
NET INCREASE IN CASH
CASH - BEGINNING OF THE PERIOD
CASH - END OF THE PERIOD
SUPPLEMENTAL DISCLOSURES:
Interest paid
Income taxes paid

CONDENSED INTERIM FINANCIAL STA

CONDENSED INTERIM FINANCIAL STATEMENTS	3 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
CONDENSED INTERIM FINANCIAL STATEMENTS	NOTE 1 - CONDENSED INTERIM 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 position, results of operations and cash flows at June 30, 2016 and for all periods presented have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles 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 March 31, 2016 audited financial statements. The results of operations for the period ended June 30, 2016 are not necessarily indicative of the operating results for the full year. Basis of Presentation In the opinion of management, the accompanying balance sheets and related interim statements of income, cash flows, and stockholders' equity include all adjustments, consisting only of normal recurring items, necessary for their fair presentation in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"). Preparing financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses. Actual results and outcomes may differ from management's estimates and assumptions.

GOING CONCERN

GOING CONCERN	3 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN	NOTE 2 - GOING CONCERN These condensed financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. As of June 30, 2016, the Company has not recognized any revenue and has accumulated operating losses of approximately $56,718 since inception. The Company's ability to continue as a going concern is contingent upon the successful completion of additional financing arrangements and its ability to achieve and maintain profitable operations. Management plans to raise equity capital to finance the operating and capital requirements of the Company. Amounts raised will be used for further development of the Company's products, to provide financing for marketing and promotion, to secure additional property and equipment, and for other working capital purposes. While the Company is putting forth its best efforts to achieve the above plans, there is no assurance that any such activity will generate funds that will be available for operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. These condensed financial statements do not include any adjustments relating to recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might arise from this uncertainty.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	NOTE 3 - SIGNIFICANT ACCOUNTING POLICIES 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 of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Earnings per Share The basic earnings (loss) per share is calculated by dividing the Company's net income (loss) available to common shareholders by the weighted average number of common shares issued and outstanding during the year. The diluted earnings (loss) per share is calculated by dividing the Company's net income (loss) 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 as of the first year for any potentially dilutive debt or equity. Recent Accounting Pronouncements The Company's management has evaluated all the recently issued accounting pronouncements through the filing date of these financial statements and does not believe that any of these pronouncements will have a material impact on the Company's financial position and results of operations.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Jun. 30, 2016
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 4 - RELATED PARTY TRANSACTIONS On February 27, 2013, the Company issued 3,000,000 shares of its Common Stock to a founder for cash of $3,000. On April 22, 2013 an officer loaned the Company $500 for audit fees. On June 27, 2014 an officer loaned the Company an additional $1,993 for audit fees. On October 23, 2014 an officer loaned the Company an additional $6,000 for audit fees. On July 1, 2015 an officer loaned the Company an additional $5,250 for audit fees. On March 9, 2016 an officer loaned the Company an additional $6,000 for audit fees. As of June 30, 2016 and March 31, 2016, $19,743 and $19,743 of this loan remained due. The loan bears no interest and is due upon demand. On May 9, 2016, a shareholder loaned the Company $7,500 for audit fees. On May 11, 2016 a shareholder loaned the Company $1,000 for audit fees. On June 20, 2016 a shareholder loaned the Company $1,500 for audit fees. As of June 30, 2016 $10,000 of this loan remained due. The loan bears no interest and is due upon demand. The Company does not lease or rent any property. Office services are provided without charge by a director. Such costs are immaterial to the financial statements and, accordingly, have not been reflected therein. The officers and directors of the Company are involved in other business activities and may, in the future, become involved in other business opportunities. If a specific business opportunity becomes available, such persons may face a conflict in selecting between the Company and their other business interests. The Company has not formulated a policy for the resolution of such conflicts.

STOCKHOLDERS' EQUITY AND CONTRI

STOCKHOLDERS' EQUITY AND CONTRIBUTED CAPITAL	3 Months Ended
	Jun. 30, 2016
Equity [Abstract]
STOCKHOLDERS' EQUITY AND CONTRIBUTED CAPITAL	NOTE 5 - STOCKHOLDERS' EQUITY AND CONTRIBUTED CAPITAL Series A Convertible Preferred Stock The Company is authorized to issue 5,000,000 shares of $0.001 par value Series A Preferred Stock, of which 200,000 shares were registered, issued and outstanding as of June 30, 2016. Series A Preferred Stock have no liquidation rights. Series A Preferred Stock shall not be entitled to receive any dividends nor are they entitled to any voting rights with respect to the Series A Preferred Stock. At any time and from time-to-time after the issuance of the Series A Preferred Stock, any holder may convert any or all of the registered shares of Series A Preferred Stock held by such holder at the ratio of one hundred (100) shares of Common Stock for every one (1) share of Series A Preferred Stock. However, the beneficial owner of such Series A Preferred Stock cannot not convert their Series A Preferred stock where they will beneficially own in excess of 4.9% of the shares of the Common Stock. On March 29, 2013, the Company issued 200,000 shares of its Series A Preferred Stock to shareholders in exchange for cash of $10,000. Each share of the Series A Preferred Stock can be exchanged for one hundred (100) shares of Common Stock of the Company. This Series A Preferred Stock was issued with a beneficial conversion feature totaling $10,000. This non-cash expense related to the beneficial conversion features of those securities and is recorded with a corresponding credit to paid-in-capital. On November 4, 2015, a shareholder of Series A Preferred Stock converted 990 preferred shares to 99,000 shares of Common Stock. On December 7, 2015, a shareholder of Series A Preferred Stock converted 750 preferred shares to 75,000 shares of Common Stock. On February 15, 2016, a shareholder of Series A Preferred Stock converted 600 preferred shares to 60,000 shares of Common Stock. On April 12, 2016, a shareholder of Series A Preferred Stock converted 1,000 preferred shares to 100,000 shares of Common Stock. On May 3, 2016, a shareholder of Series A Preferred Stock converted 1,800 preferred shares to 180,000 shares of Common Stock. On May 5, 2016, a shareholder of Series A Preferred Stock converted 1,600 preferred shares to 160,000 shares of Common Stock. On May 19, 2016, a shareholder of Series A Preferred Stock converted 1,850 preferred shares to 185,000 shares of Common Stock. On May 20, 2016, a shareholder of Series A Preferred Stock converted 500 preferred shares to 50,000 shares of Common Stock. On May 25, 2016, a shareholder of Series A Preferred Stock converted 2,200 preferred shares to 220,000 shares of Common Stock. If the remaining 188,710 shares of issued and outstanding Series A Preferred Stock were to be converted into Common Stock, and each beneficial owner held less than 4.9% of the Company’s Common Stock after issuance, it would result in the issuance of 18,871,000 shares of Common Stock. Series B Preferred Stock The Company is authorized to issue 5,000,000 shares of $0.001 par value Series B voting preferred stock, of which no shares are issued and outstanding. The Series B voting preferred stock is not entitled to receive any dividends and has no liquidation rights, however may vote each share at a weight of ten votes of common stock. Series C Preferred Stock The Company is authorized to issue 5,000,000 shares of $0.001 par value Series C preferred stock, of which no shares are issued and outstanding. The designation of these shares has yet to be determined by the Board of Directors. Common Stock The Company is authorized to issue 185,000,000 shares of its $0.001 par value Common Stock, of which 3,800,000 shares are issued and outstanding. On February 27, 2013, the Company issued 3,000,000 shares of its Common Stock to a founder for cash of $3,000. On March 26, 2014, the Company issued 300,000 shares of its Common Stock to approximately 31 shareholders for cash of $3,000. On February 4, 2016, the Company underwent a change of control of ownership. VERSAI Inc. returned the 3,000,000 control shares to the Company’s then sole officer and director that it had previously purchased on September 24, 2015 in order that the company may continue as a going concern. In consideration for the return of the 3,000,000 common shares, the Company issued 500,000 restricted common shares to the lending group who provided to VERSAI, Inc. the cash consideration to purchase the 3,000,000 control shares on September 24, 2015. On November 4, 2015, a shareholder of Series A Preferred Stock converted 990 preferred shares to 99,000 shares of Common Stock. On December 7, 2015, a shareholder of Series A Preferred Stock converted 750 preferred shares to 75,000 shares of Common Stock. On February 15, 2016, a shareholder of Series A Preferred Stock converted 600 preferred shares to 60,000 shares of Common Stock. On April 12, 2016, a shareholder of Series A Preferred Stock converted 1,000 preferred shares to 100,000 shares of Common Stock. On May 3, 2016, a shareholder of Series A Preferred Stock converted 1,800 preferred shares to 180,000 shares of Common Stock. On May 5, 2016, a shareholder of Series A Preferred Stock converted 1,600 preferred shares to 160,000 shares of Common Stock. On May 19, 2016, a shareholder of Series A Preferred Stock converted 1,850 preferred shares to 185,000 shares of Common Stock. On May 20, 2016, a shareholder of Series A Preferred Stock converted 500 preferred shares to 50,000 shares of Common Stock. On May 25, 2016, a shareholder of Series A Preferred Stock converted 2,200 preferred shares to 220,000 shares of Common Stock. As of June 30, 2016, there have been no stock options or warrants granted.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Jun. 30, 2016
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 6 - SUBSEQUENT EVENTS On July 22, 2016, a former officer and director forgave loans made to the Company by him, of which $19,743 was outstanding, in exchange for the issuance of 19,743 restricted shares of the common stock of the Company, to be registered by the Company at a later date. As of August 10, 2016, these shares have not yet been issued. Effective July 22, 2016, the Company changed its legal corporate name to “First Harvest Corp.” from “American Riding Tours, Inc.”. The Company effectuated the name change through a short-form merger pursuant to Section 92A of the Nevada Revised Statutes where a subsidiary formed solely for the purpose of the name change was merged with and into the Company, with the Company as the surviving corporation in the merger. The merger had the effect of amending the Company’s Articles of Incorporation to reflect its new legal name.

SIGNIFICANT ACCOUNTING POLICI12

SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Use of Estimates	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 of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Earnings per Share	Earnings per Share The basic earnings (loss) per share is calculated by dividing the Company's net income (loss) available to common shareholders by the weighted average number of common shares issued and outstanding during the year. The diluted earnings (loss) per share is calculated by dividing the Company's net income (loss) 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 as of the first year for any potentially dilutive debt or equity.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company's management has evaluated all the recently issued accounting pronouncements through the filing date of these financial statements and does not believe that any of these pronouncements will have a material impact on the Company's financial position and results of operations.

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	Jun. 30, 2016	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated operating losses	$ (56,718)	$ (48,218)

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)

Jun. 20, 2016

May 11, 2016

May 09, 2016

Mar. 09, 2016

Jul. 02, 2015

Oct. 23, 2014

Jun. 27, 2014

Mar. 26, 2014

Apr. 22, 2013

Feb. 27, 2013

Jun. 30, 2016

Mar. 31, 2016

Due to related party

$ 29,743

$ 19,743

Officer [Member]

Amount of loan for audit fees

$ 6,000

$ 5,250

$ 6,000

$ 1,993

$ 500

Due to related party

19,743

$ 19,743

Shareholder [Member]

Amount of loan for audit fees

$ 1,500

$ 1,000

$ 7,500

Due to related party

$ 10,000

Common Stock [Member]

Shares issued during the period

300,000

Shares issued during the period, value

$ 3,000

Common Stock [Member] | Founder [Member]

Shares issued during the period

3,000,000

Shares issued during the period, value

$ 3,000

STOCKHOLDERS' EQUITY AND CONT15

STOCKHOLDERS' EQUITY AND CONTRIBUTED CAPITAL (Details Narrative)	May 25, 2016shares	May 20, 2016shares	May 19, 2016shares	May 05, 2016shares	May 03, 2016shares	Apr. 12, 2016shares	Feb. 15, 2016shares	Feb. 04, 2016shares	Dec. 07, 2015shares	Nov. 04, 2015shares	Mar. 26, 2014USD ($)Numbershares	Mar. 29, 2013USD ($)shares	Feb. 27, 2013USD ($)shares	Jun. 30, 2016USD ($)$ / sharesshares	Mar. 31, 2016$ / sharesshares
Common stock, authorized														185,000,000	185,000,000
Common stock, par value (in dollars per share) | $ / shares														$ 0.001	$ 0.001
Common stock, issued														4,929,000	4,034,000
Common stock, outstanding														4,929,000	4,034,000
Series A Preferred Stock [Member]
Preferred stock, authorized														5,000,000	5,000,000
Preferred stock, par value (in dollars per share) | $ / shares														$ 0.001	$ 0.001
Preferred stock, issued														188,710	197,660
Preferred stock, outstanding														188,710	197,660
Description of conversion shares												One hundred (100) shares of Common Stock of the Company.		At any time and from time-to-time after the issuance of the Series A Preferred Stock, any holder may convert any or all of the registered shares of Series A Preferred Stock held by such holder at the ratio of one hundred (100) shares of Common Stock for every one (1) share of Series A Preferred Stock. However, the beneficial owner of such Series A Preferred Stock cannot not convert their Series A Preferred stock where they will beneficially own in excess of 4.9% of the shares of the Common Stock.
Percentage of beneficial owner												4.90%		4.90%
Number of shares issued												200,000
Value of shares issued | $												$ 10,000
Beneficial conversion feature | $												$ 10,000
Number of shares converted	2,200	500	1,850	1,600	1,800	1,000	600		750	990				18,871,000
Common stock, issued														188,710
Common stock, outstanding														188,710
Common Stock [Member]
Number of shares issued											300,000
Value of shares issued | $											$ 3,000
Number of common shares issued	220,000	50,000	185,000	160,000	180,000	100,000	60,000		75,000	99,000
Number of shareholders | Number											31
Common Stock [Member] | VERSAI Inc. [Member]
Number of shares returned during the period								3,000,000
Common Stock [Member] | Founder [Member]
Number of shares issued													3,000,000
Value of shares issued | $													$ 3,000
Series B Preferred Stock [Member]
Preferred stock, authorized														5,000,000	5,000,000
Preferred stock, par value (in dollars per share) | $ / shares														$ 0.001	$ 0.001
Preferred stock, issued														0	0
Preferred stock, outstanding														0	0
Description of preferred voting rights														The Series B voting preferred stock is not entitled to receive any dividends and has no liquidation rights, however may vote each share at a weight of ten votes of common stock.
Series C Preferred Stock [Member]
Preferred stock, authorized														5,000,000	5,000,000
Preferred stock, par value (in dollars per share) | $ / shares														$ 0.001	$ 0.001
Preferred stock, issued														0	0
Preferred stock, outstanding														0	0
Restricted Common Stock [Member] | VERSAI Inc. [Member]
Number of shares issued								500,000

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	Jul. 22, 2016	Jun. 30, 2016	Mar. 31, 2016
Due to related party		$ 29,743	$ 19,743
Subsequent Event [Member] | Former Officer And Director [Member]
Due to related party	$ 19,743
Subsequent Event [Member] | Restricted Shares [Member]
Number of shares issued from stock conversion	19,743