AMJ Global Technology (AMJT) 10-Q 1 Jun 21 2021 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	May 31, 2018	May 28, 2021
Cover [Abstract]
Entity Registrant Name	KANGE CORP.
Entity Central Index Key	0001593773
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--11-30
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	No
Document Period End Date	May 31, 2018
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021
Entity Common Stock Shares Outstanding		14,553,465
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	333-194055
Entity Incorporation State Country Code	NV
Entity Tax Identification Number	33-1230169
Entity Address Address Line 1	11724 Ventura Blvd Suite B
Entity Address City Or Town	Studio City
Entity Address State Or Province	CA
Entity Address Postal Zip Code	91604
City Area Code	818
Local Phone Number	853-7033
Entity Interactive Data Current	Yes

Balance Sheets

Balance Sheets - USD ($)	May 31, 2018	Nov. 30, 2017
Current Assets
Cash	$ 0	$ 77
Marketable securities	45,129	81,000
Prepaid expenses	25,019	66,312
Total Current Assets	70,148	147,389
TOTAL ASSETS	70,148	147,389
Current Liabilities
Accounts payable and accrued liabilities	10,706	5,250
Accrued expenses - related party	3,000	1,000
Due to related parties	0	26,901
Total Current Liabilities	13,706	33,151
Stockholders' Equity
Common stock, $0.001 par value, 750,000,000 shares authorized, 14,553,465 and 14,165,842 shares issued and outstanding, respectively	14,553	14,166
Additional paid-in capital	1,292,474	808,332
Accumulated deficit	(1,250,585)	(708,260)
Total Stockholders' Deficit	56,442	114,238
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 70,148	$ 147,389

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	May 31, 2018	Nov. 30, 2017
Stockholders' deficit
Common stock, Par value	$ 0.001	$ 0.001
Common stock, Authorized	750,000,000	750,000,000
Common Stock, Shares Issued	14,553,465	14,165,842
Common stock, Shares Outstanding	14,553,465	14,165,842

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2018	May 31, 2017
Statements of Operations (Unaudited)
Revenues	$ 0	$ 0	$ 0	$ 0
Operating Expenses
General and administrative	4,095	6,571	12,783	14,580
Consulting	20,581	0	41,293	0
Total operating expenses	24,676	6,571	54,076	14,580
Operating loss	(24,676)	(6,571)	(54,076)	(14,580)
Other expenses
Interest expense	0	(1,627)	0	(3,254)
Amortization of debt discount	0	(620)	0	(2,170)
Loss on settlement of debt - related party	(452,378)	0	(452,378)	0
Unrealized loss on marketable securities	(68,734)	0	(35,871)	0
Total other expenses	(521,112)	(2,247)	(488,249)	(5,424)
Net loss	$ (545,788)	$ (8,818)	$ (542,325)	$ (20,004)
Basic and diluted loss per common share	$ (0.04)	$ 0	$ (0.04)	$ 0
Basic and diluted weighted average common shares outstanding	14,536,612	10,570,000	14,352,240	10,570,000

Statement of Changes in Stockho

Statement of Changes in Stockholders' Equity (Deficit) (Unaudited) - USD ($)	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit
Balance, shares at Nov. 30, 2016		10,570,000
Balance, amount at Nov. 30, 2016	$ (68,405)	$ 10,570	$ 541,253	$ (620,228)
Net loss for the period	(11,186)	$ 0	0	(11,186)
Balance, shares at Feb. 28, 2017		10,570,000
Balance, amount at Feb. 28, 2017	(79,591)	$ 10,570	541,253	(631,414)
Balance, shares at Nov. 30, 2016		10,570,000
Balance, amount at Nov. 30, 2016	(68,405)	$ 10,570	541,253	(620,228)
Net loss for the period	(20,004)
Balance, shares at May. 31, 2017		10,570,000
Balance, amount at May. 31, 2017	(88,409)	$ 10,570	541,253	(640,232)
Balance, shares at Feb. 28, 2017		10,570,000
Balance, amount at Feb. 28, 2017	(79,591)	$ 10,570	541,253	(631,414)
Net loss for the period	(8,818)	$ 0	0	(8,818)
Balance, shares at May. 31, 2017		10,570,000
Balance, amount at May. 31, 2017	(88,409)	$ 10,570	541,253	(640,232)
Balance, shares at Nov. 30, 2017		14,165,842
Balance, amount at Nov. 30, 2017	114,238	$ 14,166	808,332	(708,260)
Net loss for the period	3,463	$ 0	0	3,463
Balance, shares at Feb. 28, 2018		14,165,842
Balance, amount at Feb. 28, 2018	117,701	$ 14,166	808,332	(704,797)
Balance, shares at Nov. 30, 2017		14,165,842
Balance, amount at Nov. 30, 2017	114,238	$ 14,166	808,332	(708,260)
Net loss for the period	(542,325)
Balance, shares at May. 31, 2018		14,553,465
Balance, amount at May. 31, 2018	56,442	$ 14,553	1,292,474	(1,250,585)
Balance, shares at Feb. 28, 2018		14,165,842
Balance, amount at Feb. 28, 2018	117,701	$ 14,166	808,332	(704,797)
Net loss for the period	(545,788)	$ 0	0	(545,788)
Shares issued for debt settlement, shares		387,623
Shares issued for debt settlement, amount	484,529	$ 387	484,142	0
Balance, shares at May. 31, 2018		14,553,465
Balance, amount at May. 31, 2018	$ 56,442	$ 14,553	$ 1,292,474	$ (1,250,585)

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	May 31, 2018	May 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (542,325)	$ (20,004)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of debt discount	0	2,170
Unrealized loss on marketable securities	35,871	0
Loss on settlement of debt	452,378	0
Changes in operating assets and liabilities:
Prepaid expenses	41,293	0
Accounts payable and accrued liabilities	5,456	5,082
Accrued expenses to related party	6,000	4,005
Net cash used in operating activities	(1,327)	(8,747)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from loan from related party	1,250	8,669
Net cash provided by financing activities	1,250	8,669
Net change in cash for the period	(77)	(78)
Cash at beginning of period	77	155
Cash at end of period	0	77
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for income taxes	0	0
Cash paid for interest	0	0
NON-CASH INVESTING AND FINANCING ACTIVITIES
Stock issued for debt to related party	$ 484,529	$ 0

ORGANIZATION AND NATURE OF BUSI

ORGANIZATION AND NATURE OF BUSINESS	6 Months Ended
	May 31, 2018
ORGANIZATION AND NATURE OF BUSINESS
NOTE 1 - ORGANIZATION AND NATURE OF BUSINESS	NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS Organization Kange Corp. ("Kange," the "Company," "we," "us," or "our") was incorporated under the laws of the State of Nevada on August 16, 2013 (Inception). We are a start-up company developing mobile software products, for Apple and Android platforms, starting in Estonia and Europe, which is our initial intended market. Apple is a trademark of Apple Inc., and Android is a trademark of Alphabet Inc. During 2017, we began focusing on the intersection of technology and wholistic technology-based health treatments, we retained an advisor having substantial experience in the technology sector, we retained two former professional athletes to advise us regarding sports health issues and treatments, and we intend to provide services to formulate a treatment model to meet the needs of professional athletes that suffer from PTSD and the early onset of dementia and Alzheimer’s. The Company is currently evaluating operations in the wholistic health industry. Basis of Presentation The accompanying unaudited financial statements of the Company are condensed and have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”), including the instructions to Form 10-Q and Regulation S-X. Certain information and note disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”), have been condensed or omitted from these statements pursuant to such rules and regulations and, accordingly, they do not include all the information and notes necessary for comprehensive financial statements and should be read in conjunction with our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended November 30, 2017. The results of operations for the period ended May 31, 2018 are not necessarily indicative of the operating results for the full year. Fair Value of Financial Instruments The Company measures its financial assets and liabilities in accordance with generally accepted accounting principles. For certain of our financial instruments, including cash, accounts payable, accrued expenses, and short-term loans the carrying amounts approximate fair value due to their short maturities. Going Concern The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company used cash in operating activities of $1,327 for the six months ended May 31, 2018. The Company had an accumulated deficit of $1,250,585 at May 31, 2018. These factors raise substantial doubt about the ability of the Company to continue as a going concern for a reasonable period of time. The Company's continuation as a going concern is dependent upon its ability to generate revenues and its ability to continue receiving investment capital and loans from related parties to sustain its current level of operations. The Company is in the process of securing working capital from investors for common stock, convertible notes payable, and/or strategic partnerships. No assurance can be given that the Company will be successful in these efforts. 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 might be necessary should the Company be unable to continue as a going concern. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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. The estimates and judgments will also affect the reported amounts for certain expenses during the reporting period. Actual results could differ from these good faith estimates and judgments. Net Earnings (Loss) Per Share In accordance with ASC 260-10, "Earnings per Share," basic net earnings (loss) per common share is computed by dividing the net earnings (loss) for the period by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share are computed using the weighted average number of common and dilutive common stock equivalent shares outstanding during the period, which are excluded from the computation if anti-dilutive. There are no dilutive or potentially dilutive securities outstanding during the periods presented. Effect of Recent Accounting Pronouncements The Company reviews new accounting pronouncements as issued. Except as disclosed in Note 2, no new pronouncements had any material effect on these financial statements. The accounting pronouncements issued subsequent to the date of these financial statements that were considered significant by management were evaluated for the potential effect on these financial statements. Management does not believe any of the subsequent pronouncements will have a material effect on these financial statements as presented and does not anticipate the need for any future restatement of these financial statements because of the retro-active application of any accounting pronouncements issued subsequent to May 31, 2018 through the date these financial statements were issued.

MARKETABLE SECURITIES

MARKETABLE SECURITIES	6 Months Ended
	May 31, 2018
MARKETABLE SECURITIES
NOTE 2 - MARKETABLE SECURITIES	NOTE 2 – MARKETABLE SECURITIES We adopted ASU 2016-01 on December 1, 2017, which requires us to measure all equity investments that do not result in consolidation and are not accounted for under the equity method at fair value and recognize any changes in earnings. We use quoted market prices to determine the fair value of equity securities with readily determinable fair values. On November 1, 2017 the Company executed a stock purchase agreement (the “SPA”) with AMJ Global Entertainment, LLC, a related party and holder of 4,803,195 shares of common stock in Patient Access Solutions Inc., a Nevada corporation with ticker symbol “ PASO On November 1, 2017, the Company recorded the shares of Patient Access Solutions Inc. at $81,000. As of May 31, 2018, based quoted market prices, the Company recognized an unrealized loss of $35,871. The carrying values of our equity securities were included in the following line items in our balance sheets: Equity securities at November 30, 2017 $ 81,000 Addition of equity securities - Net unrealized loss recognized during the period related to equity securities still held at the end of the period (35,871 ) Equity securities at May 31, 2018 $ 45,129

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	May 31, 2018
RELATED PARTY TRANSACTIONS
NOTE 3 - RELATED PARTY TRANSACTIONS	NOTE 3 – RELATED PARTY TRANSACTIONS In support of the Company's efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by shareholders. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances are considered temporary in nature and have not been formalized by a promissory note. On November 1, 2017, the Company entered into a one-year office lease agreement with AMJ Global Entertainment LLC, a related party controlled by the Company’s CEO and director, ending November 2, 2018. The location of the leased office space is 11724 Ventura Blvd Suite B, Studio City, California 91604. The lease states monthly rent due of $1,000. During the six months ended May 31, 2018, the Company accrued $6,000 due to related party. As of May 31, 2018 and November 30, 2017, the Company has accrued lease expense due to related party of $3,000 and $1,000, respectively. At November 30, 2017, the Company owed $26,901 to AMJ Global Entertainment LLC, a related party controlled by the Company’s CEO and director. The amount is unsecured, non-interest bearing and due on demand. During the six months ended May 31, 2018 and 2017, the Company received proceeds of $1,250 and $8,669, respectively, from the related party. On March 5, 2018, the Company settled the loans totaling $28,151 in addition to $4,000 accrued related party payables by the issuance of 387,623 shares of common stock valued at $484,529. As a result, the Company recorded a loss on settlement of debt of $452,378.

COMMON STOCK

COMMON STOCK	6 Months Ended
	May 31, 2018
COMMON STOCK
NOTE 4 - COMMON STOCK	NOTE 4 – COMMON STOCK Common Stock On November 27, 2017, the Company increased its authorized shares of common stock from 75,000,000 to 750,000,000, par value $0.001 per share. Each outstanding share of common stock entitles the holder to one vote per share on all matters submitted to a stockholder vote. All shares of common stock are non-assessable and non-cumulative, with no pre-emptive rights. During the year ended November 30, 2017, the Company issued a total of 155,000 shares of common stock to five separate consultants pursuant to advisory board agreements. Three advisory board agreements were made effective on May 25, 2017 with terms of 15,000 shares each to be issued for one year of services to be rendered. Two advisory board agreements were made effective on October 1, 2017 with terms of 30,000 shares each to be issued for one year of services. The Company valued the advisory agreement shares based on the closing stock price of the Company on the date of the executed agreement (the grant date), which resulted in a total combined value of $124,000 initially recorded as prepaid expense to be amortized ratably over the contract term. During the six months ended May 31, 2018, the Company recorded consulting expense in the amount of $41,293, resulting in the remaining balance of prepaid expense, the uncompleted portion of the contract, of $25,019 and $66,312 at May 31, 2018 and November 30, 2017, respectively. On March 5, 2018, the Company issued 387,623 shares of common stock valued at $484,529 to settled debt of $32,151 owed to a related party (Note 3). There were 14,553,465 and 14,165,842 shares of common stock issued and outstanding as of May 31, 2018 and November 30, 2017, respectively.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	May 31, 2018
SUBSEQUENT EVENTS
NOTE 5 - SUBSEQUENT EVENTS	NOTE 5 – SUBSEQUENT EVENTS On January 13, 2020, the transaction related to stock purchase agreement with AMJ Global Entertainment, LLC, a related party and holder of 4,803,195 shares of common stock in Patient Access Solutions Inc. (see Note 2), was rescinded, and the Company will return 1,157,142 shares of Patient Access Solutions Inc. back to AMJ Global Entertainment, LLC in exchange for 157,142 shares of the Company. The Company has evaluated events occurring subsequent to the balance sheet date through the date these financial statements were issued, and determined there are no additional events requiring disclosure.

ORGANIZATION AND NATURE OF BU_2

ORGANIZATION AND NATURE OF BUSINESS (Policies)	6 Months Ended
	May 31, 2018
ORGANIZATION AND NATURE OF BUSINESS
Organization	Kange Corp. ("Kange," the "Company," "we," "us," or "our") was incorporated under the laws of the State of Nevada on August 16, 2013 (Inception). We are a start-up company developing mobile software products, for Apple and Android platforms, starting in Estonia and Europe, which is our initial intended market. Apple is a trademark of Apple Inc., and Android is a trademark of Alphabet Inc. During 2017, we began focusing on the intersection of technology and wholistic technology-based health treatments, we retained an advisor having substantial experience in the technology sector, we retained two former professional athletes to advise us regarding sports health issues and treatments, and we intend to provide services to formulate a treatment model to meet the needs of professional athletes that suffer from PTSD and the early onset of dementia and Alzheimer’s. The Company is currently evaluating operations in the wholistic health industry.
Basis of Presentation	The accompanying unaudited financial statements of the Company are condensed and have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”), including the instructions to Form 10-Q and Regulation S-X. Certain information and note disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”), have been condensed or omitted from these statements pursuant to such rules and regulations and, accordingly, they do not include all the information and notes necessary for comprehensive financial statements and should be read in conjunction with our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended November 30, 2017. The results of operations for the period ended May 31, 2018 are not necessarily indicative of the operating results for the full year.
Fair Value of Financial Instruments	The Company measures its financial assets and liabilities in accordance with generally accepted accounting principles. For certain of our financial instruments, including cash, accounts payable, accrued expenses, and short-term loans the carrying amounts approximate fair value due to their short maturities.
Going Concern	The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company used cash in operating activities of $1,327 for the six months ended May 31, 2018. The Company had an accumulated deficit of $1,250,585 at May 31, 2018. These factors raise substantial doubt about the ability of the Company to continue as a going concern for a reasonable period of time. The Company's continuation as a going concern is dependent upon its ability to generate revenues and its ability to continue receiving investment capital and loans from related parties to sustain its current level of operations. The Company is in the process of securing working capital from investors for common stock, convertible notes payable, and/or strategic partnerships. No assurance can be given that the Company will be successful in these efforts. 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 might be necessary should the Company be unable to continue as a going concern.
Use of Estimates	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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. The estimates and judgments will also affect the reported amounts for certain expenses during the reporting period. Actual results could differ from these good faith estimates and judgments.
Net Earnings (Loss) Per Share	In accordance with ASC 260-10, "Earnings per Share," basic net earnings (loss) per common share is computed by dividing the net earnings (loss) for the period by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share are computed using the weighted average number of common and dilutive common stock equivalent shares outstanding during the period, which are excluded from the computation if anti-dilutive. There are no dilutive or potentially dilutive securities outstanding during the periods presented.
Effect of Recent Accounting Pronouncements	The Company reviews new accounting pronouncements as issued. Except as disclosed in Note 2, no new pronouncements had any material effect on these financial statements. The accounting pronouncements issued subsequent to the date of these financial statements that were considered significant by management were evaluated for the potential effect on these financial statements. Management does not believe any of the subsequent pronouncements will have a material effect on these financial statements as presented and does not anticipate the need for any future restatement of these financial statements because of the retro-active application of any accounting pronouncements issued subsequent to May 31, 2018 through the date these financial statements were issued.

MARKETABLE SECURITIES (Tables)

MARKETABLE SECURITIES (Tables)	6 Months Ended
	May 31, 2018
MARKETABLE SECURITIES
Schedule of value of equity securities	Equity securities at November 30, 2017 $ 81,000 Addition of equity securities - Net unrealized loss recognized during the period related to equity securities still held at the end of the period (35,871 ) Equity securities at May 31, 2018 $ 45,129

ORGANIZATION AND NATURE OF BU_3

ORGANIZATION AND NATURE OF BUSINESS (Details Narrative) - USD ($)	6 Months Ended
	May 31, 2018	May 31, 2017	Nov. 30, 2017
ORGANIZATION AND NATURE OF BUSINESS
Net cash used in operating activities	$ (1,327)	$ (8,747)
Accumulated deficit	$ (1,250,585)		$ (708,260)

MARKETABLE SEC (Details)

MARKETABLE SEC (Details)	6 Months Ended
	May 31, 2018USD ($)
MARKETABLE SECURITIES
Equity securities at November 30, 2017	$ 81,000
Net unrealized loss recognized during the period related to equity securities still held at the end of the period	(35,871)
Equity securities at February 28, 2018	$ 45,129

MARKETABLE SECURITIES (Details

MARKETABLE SECURITIES (Details Narrative) - USD ($)	Jan. 13, 2020	May 31, 2018	Nov. 30, 2017	Nov. 01, 2017
Exchange Common Stock Value				$ 81,000
Unrealized gain on investment		$ (35,871)
Common stock, shares issued		14,553,465	14,165,842
Patient Access Solutions Inc [Member]
Common stock, shares issued				158,824
Common stock, shares returned in exchange during period				1,157,142
Amj Global Entertainment LLc [Member]
Common stock, shares rescinded during period	4,803,195

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	Mar. 05, 2018	May 31, 2018	May 31, 2017	Nov. 30, 2017
Due to related party		$ 0		$ 26,901
Accrued expenses - related party		3,000		1,000
Amj Global [Member]
Due to related party		3,000		$ 1,000
Settlement of loan amount	$ 28,151
Monthly rent of lease		1,000
Accrued expenses - related party	$ 4,000	6,000
Proceeds from the related party		1,250	$ 8,669
Common Stock, Shares Issued During Period, Shares	387,623
Common Stock, Shares Issued During Period, Value	$ 484,529
Loss on settlement of debt		$ 452,378

COMMON STOCK (Details Narrative

COMMON STOCK (Details Narrative) - USD ($)	Mar. 05, 2018	Nov. 27, 2017	May 31, 2018	Nov. 30, 2017	Oct. 01, 2017	May 25, 2017
Stock Authorized During Period, Shares, Period Increase		750,000,000
Common stock, Par value			$ 0.001	$ 0.001
Common Stock, Shares Issued			14,553,465	14,165,842
Common stock, Shares Outstanding			14,553,465	14,165,842
Consulting expenses			$ 41,293
Prepaid expense			$ 25,019	$ 66,312
Service Agreements [Member]
Common Stock, Shares Issued				155,000
Common stock, shares to be issued					30,000	15,000
Combined shares issued value				$ 124,000
Amj Global [Member]
Settlement of loan amount	$ 32,151
Common Stock, Shares Issued During Period, Shares	387,623
Common Stock, Shares Issued During Period, Value	$ 484,529

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative)	Jan. 13, 2020shares
Amj Global Entertainment LLc [Member]
Common stock, shares rescinded during period	4,803,195
Subsequent Event [Member]
Common stock, shares rescinded during period	4,803,195
Common stock, shares returned	1,157,142
Subsequent Event [Member] | Amj Global Entertainment LLc [Member]
Common stock, shares returned in exchange during period	157,142