Cover
Cover - USD ($) | 12 Months Ended | ||
Nov. 30, 2021 | Mar. 11, 2022 | May 31, 2021 | |
Cover [Abstract] | |||
Entity Registrant Name | KANGE CORP. | ||
Entity Central Index Key | 0001593773 | ||
Document Type | 10-K | ||
Amendment Flag | false | ||
Entity Voluntary Filers | No | ||
Current Fiscal Year End Date | --11-30 | ||
Entity Well Known Seasoned Issuer | No | ||
Entity Small Business | true | ||
Entity Shell Company | false | ||
Entity Emerging Growth Company | true | ||
Entity Current Reporting Status | No | ||
Document Period End Date | Nov. 30, 2021 | ||
Entity Filer Category | Non-accelerated Filer | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2021 | ||
Entity Ex Transition Period | false | ||
Entity Common Stock Shares Outstanding | 89,623,323 | ||
Entity Public Float | $ 118,875 | ||
Document Annual 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 | ||
Auditor Name | Pinnacle Accountancy Group of Utah | ||
Entity Address Postal Zip Code | 91604 | ||
City Area Code | 818 | ||
Local Phone Number | 853-7033 | ||
Security 12g Title | Common Stock, $0.001 par value | ||
Entity Interactive Data Current | No | ||
Auditor Location | Farmington, Utah | ||
Auditor Firm Id | 6117 |
Balance Sheets
Balance Sheets - USD ($) | Nov. 30, 2021 | Nov. 30, 2020 |
Current Assets | ||
Cash | $ 0 | $ 0 |
Total Current Assets | 0 | 0 |
TOTAL ASSETS | 0 | 0 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 4,000 | 5,500 |
Due to related parties | 67,107 | 16,276 |
Total Current Liabilities | 71,107 | 21,776 |
Stockholders' Deficit | ||
Common stock, $0.001 par value, 750,000,000 shares authorized, 14,396,323 shares issued and outstanding | 14,396 | 14,396 |
Additional paid-in capital | 1,276,084 | 1,276,084 |
Accumulated deficit | (1,361,587) | (1,312,256) |
Total Stockholders' Deficit | (71,107) | (21,776) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 0 | $ 0 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Nov. 30, 2021 | Nov. 30, 2020 |
Stockholders' deficit | ||
Common stock, Par value | $ 0.001 | $ 750,000,000 |
Common stock, Authorized | 750,000,000 | 750,000,000 |
Common stock, Issued | 14,396,323 | 14,396,323 |
Common stock, Outstanding | 14,396,323 | 14,396,323 |
Statements of Operations
Statements of Operations - USD ($) | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Statements of Operations | ||
Revenues | $ 0 | $ 0 |
Operating Expenses | ||
General and administrative | 49,331 | 1,100 |
Total operating expenses | 49,331 | 1,100 |
Operating loss | (49,331) | (1,100) |
Other income (expense) | ||
Total other income (expense) | 0 | 0 |
Net loss | $ (49,331) | $ (1,100) |
Basic and diluted loss per common share | $ 0 | $ 0 |
Basic and diluted weighted average common shares outstanding | 14,396,323 | 14,414,405 |
Statement of Changes in Stockho
Statement of Changes in Stockholders Deficit - USD ($) | Total | Common Stock | Additional Paid-In Capital | Accumulated Deficit |
Balance, shares at Nov. 30, 2019 | 14,553,465 | |||
Balance, amount at Nov. 30, 2019 | $ (4,129) | $ 14,553 | $ 1,292,474 | $ (1,311,156) |
Common shares cancelled, shares | (157,142) | |||
Common shares cancelled, amount | (16,547) | $ (157) | (16,390) | 0 |
Net loss | (1,100) | $ 0 | 0 | (1,100) |
Balance, shares at Nov. 30, 2020 | 14,396,323 | |||
Balance, amount at Nov. 30, 2020 | (21,776) | $ 14,396 | 1,276,084 | (1,312,256) |
Net loss | (49,331) | $ 0 | 0 | (49,331) |
Balance, shares at Nov. 30, 2021 | 14,396,323 | |||
Balance, amount at Nov. 30, 2021 | $ (71,107) | $ 14,396 | $ 1,276,084 | $ (1,361,587) |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (49,331) | $ (1,100) |
Changes in operating assets and liabilities: | ||
Accounts payable and accrued liabilities | (1,500) | (1,400) |
Net cash used in operating activities | (50,831) | (2,500) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from related party | 50,831 | 2,500 |
Net cash provided by financing activities | 50,831 | 2,500 |
Net change in cash for the period | 0 | 0 |
Cash at beginning of period | 0 | 0 |
Cash at end of period | 0 | 0 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Cash paid for income taxes | 0 | 0 |
Cash paid for interest | 0 | 0 |
NON-CASH INVESTING AND FINANCING ACTIVITIES | ||
Common shares cancelled for return of equity investment | $ 0 | $ 16,547 |
ORGANIZATION AND NATURE OF BUSI
ORGANIZATION AND NATURE OF BUSINESS | 12 Months Ended |
Nov. 30, 2021 | |
ORGANIZATION AND NATURE OF BUSINESS | |
NOTE 1 - SIGNIFICANT ACCOUNTING POLICIES | 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. 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, and two former professional athletes to advise us regarding sports health issues and treatments. 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 financial statements and related disclosures have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The financial statements have been prepared using the accrual basis of accounting in accordance with Generally Accepted Accounting Principles (“GAAP”) of the United States. Fair Value of Financial Instruments The Company’s financial instruments, including accounts payable, accrued expenses, and due to related parties are carried at historical cost. At November 30, 2021 and 2020, the carrying amounts of these instruments approximated their fair values because of the short-term nature of these instruments. 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 $50,831 for the year ended November 30, 2021. The Company had an accumulated deficit of $1,361,587 at November 30, 2021. 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 GAAP 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, “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 is 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. Income Taxes Deferred tax assets and liabilities are recognized for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The deferred tax assets of the Company relate primarily to operating loss carryforwards for federal income tax purposes. A full valuation allowance for deferred tax assets has been provided because the Company believes it is not more likely than not that the deferred tax asset will be realized. Realization of deferred tax assets is dependent on the Company generating sufficient taxable income in future periods. The Company periodically evaluates its tax positions to determine whether it is more likely than not that such positions would be sustained upon examination by a tax authority for all open tax years, as defined by the statute of limitations, based on their technical merits. As of November 30, 2021 and 2020, the Company has not established a liability for uncertain tax positions. Recent Accounting Pronouncements The Company reviews new accounting pronouncements as issued. 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 November 30, 2021 through the date these financial statements were issued. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended |
Nov. 30, 2021 | |
RELATED PARTY TRANSACTIONS | |
NOTE 2 - RELATED PARTY TRANSACTIONS | NOTE 2 – 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 non-interest bearing, considered temporary in nature, and have not been formalized by a promissory note. At November 30, 2021 and 2020, the Company owed $67,107 and $16,276, respectively, to AMJ Global Entertainment LLC, a related party controlled by the Company’s CEO and director. The amounts are unsecured, non-interest bearing and due on demand. During the year ended November 30, 2021 and 2020, the Company received proceeds of $50,831 and $2,500, respectively, from the related party. |
COMMON STOCK
COMMON STOCK | 12 Months Ended |
Nov. 30, 2021 | |
COMMON STOCK | |
NOTE 3 - COMMON STOCK | NOTE 3 – COMMON STOCK Common Stock The Company has authorized common shares of 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. On November 1, 2017, the Company executed a stock purchase agreement (the “SPA”) with AMJ Global Entertainment, LLC, a related party company controlled by our CEO and director, to purchase 1,157,142 shares of Patient Access Solutions Inc., a Nevada corporation with ticker symbol “PASO” (“PASO”), in consideration of the issuance of 157,142 shares of our common stock. On January 13, 2020, the transaction was rescinded and the Company returned 1,157,142 shares of Patient Access Solutions Inc. back to AMJ Global Entertainment, LLC in exchange for cancelling 157,142 shares of the Company. There were 14,396,323 shares of common stock issued and outstanding as of November 30, 2021 and 2020. |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Nov. 30, 2021 | |
INCOME TAXES | |
NOTE 4 - INCOME TAXES | NOTE 4 – INCOME TAXES The Company’s tax expense differs from the “expected” tax expense for Federal income tax purposes (computed by applying the United States Federal tax rate of 21% to loss before taxes), as follows: For the Years Ended November 30, 2021 2020 Income tax expense at statutory rate $ (10,360 ) $ (231 ) Change in valuation allowance 10,360 231 Income tax expense per books $ - $ - The tax effects of the temporary differences between reportable financial statement income and taxable income are recognized as deferred tax assets and liabilities. The tax effect of significant components of the Company’s deferred tax asset at November 30, 2021 and 2020 is as follows: November 30, 2021 2020 NOL Carryover $ 165,414 $ 155,054 Valuation allowance (165,414 ) (155,054 ) Net deferred tax asset $ - $ - In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Because of the historical earnings history of the Company, the net deferred tax asset for 2021 was fully offset by a 100% valuation allowance. The valuation allowance for the remaining net deferred tax assets was $165,414 and $155,054 as of November 30, 2021 and 2020, respectively. The Company’s tax returns are subject to examination by tax authorities beginning with the year ended November 30, 2013. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Nov. 30, 2021 | |
SUBSEQUENT EVENTS | |
NOTE 5 - SUBSEQUENT EVENTS | NOTE 5 – SUBSEQUENT EVENTS On January 27, 2022 the Company adopted the Board Resolution and issued 65,227,000 shares of common stock against amount owed to AMJ Global Entertainment LLC, a related party controlled by the Company’s CEO and director, and 10,000,000 shares of common stock as a one-time bonus to Dr. Art Malone Jr. for his services as Chairman and CEO 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) | 12 Months Ended |
Nov. 30, 2021 | |
ORGANIZATION AND NATURE OF BUSINESS (Policies) | |
Organization | Kange Corp. (“Kange,” the “Company,” “we,” “us,” or “our”) was incorporated under the laws of the State of Nevada on August 16, 2013. 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, and two former professional athletes to advise us regarding sports health issues and treatments. 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 financial statements and related disclosures have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The financial statements have been prepared using the accrual basis of accounting in accordance with Generally Accepted Accounting Principles (“GAAP”) of the United States. |
Fair Value of Financial Instruments | The Company’s financial instruments, including accounts payable, accrued expenses, and due to related parties are carried at historical cost. At November 30, 2021 and 2020, the carrying amounts of these instruments approximated their fair values because of the short-term nature of these instruments. |
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 $50,831 for the year ended November 30, 2021. The Company had an accumulated deficit of $1,361,587 at November 30, 2021. 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 GAAP 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, “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 is 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. |
Income Taxes | Deferred tax assets and liabilities are recognized for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The deferred tax assets of the Company relate primarily to operating loss carryforwards for federal income tax purposes. A full valuation allowance for deferred tax assets has been provided because the Company believes it is not more likely than not that the deferred tax asset will be realized. Realization of deferred tax assets is dependent on the Company generating sufficient taxable income in future periods. The Company periodically evaluates its tax positions to determine whether it is more likely than not that such positions would be sustained upon examination by a tax authority for all open tax years, as defined by the statute of limitations, based on their technical merits. As of November 30, 2021 and 2020, the Company has not established a liability for uncertain tax positions. |
Recent Accounting Pronouncements | The Company reviews new accounting pronouncements as issued. 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 November 30, 2021 through the date these financial statements were issued. |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
INCOME TAXES | |
Federal income tax expense | For the Years Ended November 30, 2021 2020 Income tax expense at statutory rate $ (10,360 ) $ (231 ) Change in valuation allowance 10,360 231 Income tax expense per books $ - $ - |
Deferred tax assets and liabilities | November 30, 2021 2020 NOL Carryover $ 165,414 $ 155,054 Valuation allowance (165,414 ) (155,054 ) Net deferred tax asset $ - $ - |
ORGANIZATION AND NATURE OF BU_3
ORGANIZATION AND NATURE OF BUSINESS (Detail Narrative) - USD ($) | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
ORGANIZATION AND NATURE OF BUSINESS (Detail Narrative) | ||
Accumulated deficit | $ (1,361,587) | $ (1,312,256) |
Net used cash in operating activities | $ (50,831) | $ (2,500) |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Due to related party | $ 67,107 | $ 16,276 |
Amj Global [Member] | ||
Due to related party | 67,107 | 16,276 |
Proceeds from the related party | $ 50,831 | $ 2,500 |
COMMON STOCK (Details Narrative
COMMON STOCK (Details Narrative) - $ / shares | Nov. 30, 2021 | Nov. 30, 2020 | Jan. 13, 2020 | Nov. 01, 2017 |
Common stock, Authorized | 750,000,000 | 750,000,000 | ||
Common stock, Par value | $ 0.001 | $ 750,000,000 | ||
Common Stock, Shares Issued | 14,396,323 | 14,396,323 | ||
Common stock, Shares Outstanding | 14,396,323 | 14,396,323 | ||
Amj Global Entertainment LLc [Member] | ||||
Common Stock, Shares Issued | 157,142 | |||
Common stock, shares returned in exchange during period | 1,157,142 | |||
Patient Access Solutions Inc [Member] | ||||
Common Stock, Shares Issued | 157,142 | |||
Common stock, shares returned in exchange during period | 1,157,142 |
INCOME TAXES (Details)
INCOME TAXES (Details) - USD ($) | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
INCOME TAXES | ||
Income tax expense at statutory rate | $ (10,360) | $ (231) |
Change in valuation allowance | 10,360 | 231 |
Income tax expense per books | $ 0 | $ 0 |
INCOME TAXES (Details 1)
INCOME TAXES (Details 1) - USD ($) | Nov. 30, 2021 | Nov. 30, 2020 |
INCOME TAXES | ||
NOL Carryover | $ 165,414 | $ 155,054 |
Valuation allowance | (165,414) | (155,054) |
Net deferred tax asset | $ 0 | $ 0 |
INCOME TAXES (Details Narrative
INCOME TAXES (Details Narrative) - USD ($) | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
INCOME TAXES | ||
Deferred tax asset valuation allowance | $ 165,414 | $ 155,054 |
Valuation allowance | 100.00% | |
United States Federal tax rate | 21.00% |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) - Subsequent Event [Member] | Jan. 27, 2022shares |
Stock issued related party | 10,000,000 |
AMJ Global Entertainment LLC [Member] | |
Stock issued related party | 65,227,000 |