Cover
Cover - shares | 6 Months Ended | |
Dec. 31, 2021 | Feb. 22, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Dec. 31, 2021 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2022 | |
Current Fiscal Year End Date | --06-30 | |
Entity File Number | 333-192874 | |
Entity Registrant Name | ZHRH CORPORATION | |
Entity Central Index Key | 0001594114 | |
Entity Tax Identification Number | 99-0369270 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 50 West Liberty St. Suite 880 | |
Entity Address, City or Town | Reno | |
Entity Address, State or Province | NV | |
Entity Address, Postal Zip Code | 89501 | |
City Area Code | 775 | |
Local Phone Number | 322-0626 | |
Entity Current Reporting Status | No | |
Entity Interactive Data Current | No | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | true | |
Entity Common Stock, Shares Outstanding | 75,000,000 |
Balance Sheets (Unaudited)
Balance Sheets (Unaudited) - USD ($) | Dec. 31, 2021 | Jun. 30, 2021 |
Current assets | ||
Cash and cash equivalents | ||
Total current assets | ||
TOTAL ASSETS | 0 | 0 |
Current liabilities | ||
Accrued liabilities and other current liabilities | 175,281 | 60,664 |
Related parties loan payable | 230,855 | 108,020 |
Current liabilities of discontinued operations | ||
Total current liabilities | 406,136 | 168,684 |
TOTAL LIABILITIES | 406,136 | 168,684 |
COMMITMENTS & CONTINGENCIES | ||
STOCKHOLDERS DEFICIT | ||
Common stock, $0.001 par value; 75,000,000 shares authorized, 75,000,000 shares issued and outstanding at December 31, 2021 and June 30, 2021 | 75,000 | 75,000 |
Additional paid-in capital | (15,115) | (20,916) |
Accumulated deficit | (466,021) | (222,768) |
TOTAL STOCKHOLDERS DEFICIT | (406,136) | (168,684) |
TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT | $ 0 | $ 0 |
Balance Sheets (Unaudited) (Par
Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Dec. 31, 2021 | Jun. 30, 2021 |
Statement of Financial Position [Abstract] | ||
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 75,000,000 | 75,000,000 |
Common Stock, Shares, Issued | 75,000,000 | 75,000,000 |
Common Stock, Shares, Outstanding | 75,000,000 | 75,000,000 |
Statements of Operations and Co
Statements of Operations and Comprehensive Income (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | |
Operating expenses | ||||
Legal fees | $ 40,635 | $ 2,500 | $ 127,412 | $ 5,000 |
Audit and accounting fees | 10,400 | 61,500 | ||
Consulting fees | 10,715 | 44,141 | 10,715 | |
General and administrative expense | 6,173 | 10,199 | 6,173 | |
Total operating expense | 50,834 | 19,388 | 243,252 | 21,888 |
Loss from operations | (50,834) | (19,388) | (243,252) | (21,888) |
Net income | $ (50,834) | $ (19,388) | $ (243,252) | $ (21,888) |
Net income per common share – basic and diluted | $ (0.01) | $ (0.01) | ||
Weighted average common shares outstanding – basic and diluted | 75,000,000 | 3,740,000 | 75,000,000 | 3,740,000 |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flows from operating activities | ||||
Net loss | $ (50,834) | $ (19,388) | $ (243,252) | $ (21,888) |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities | ||||
Gain from discontinued operations | ||||
Changes in assets and liabilities | ||||
Increase in accruals and other payables | 114,617 | 5,000 | ||
Increase in related party payables | 128,635 | 16,888 | ||
Net cash used in operating activities from continuing operations | ||||
Net cash (used in) from operating activities from discontinued operations | ||||
Net cash used in operating activities | ||||
Net increase in cash and cash equivalents | ||||
Effect of foreign currency translation on cash and cash equivalents | ||||
Cash and cash equivalents–beginning of period | ||||
Cash and cash equivalents–end of period | ||||
Less cash and cash equivalents of discontinued operations–end of period | ||||
Cash and cash equivalents of continuing operations–end of period | ||||
Supplementary cash flow information: | ||||
Interest paid | ||||
Income taxes paid | ||||
Non-Cash Financing and Investing Activities: | ||||
Forgiveness of related party debt | $ (5,801) |
Statements of Stockholders' Equ
Statements of Stockholders' Equity (Deficit) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance - June 30, 2020 at Jun. 30, 2020 | $ 3,740 | $ 31,989 | $ (52,444) | $ (16,715) |
Shares, Outstanding, Beginning Balance at Jun. 30, 2020 | 3,740,000 | |||
Net loss | (2,500) | (2,500) | ||
Balance - December 31, 2020 at Sep. 30, 2020 | $ 3,740 | 31,989 | (54,944) | (19,215) |
Shares, Outstanding, Ending Balance at Sep. 30, 2020 | 3,740,000 | |||
Balance - June 30, 2020 at Jun. 30, 2020 | $ 3,740 | 31,989 | (52,444) | (16,715) |
Shares, Outstanding, Beginning Balance at Jun. 30, 2020 | 3,740,000 | |||
Forgiveness of related party debt | ||||
Net loss | (21,888) | |||
Balance - December 31, 2020 at Dec. 31, 2020 | $ 3,740 | 31,989 | (74,332) | (38,603) |
Shares, Outstanding, Ending Balance at Dec. 31, 2020 | 3,740,000 | |||
Balance - June 30, 2020 at Sep. 30, 2020 | $ 3,740 | 31,989 | (54,944) | (19,215) |
Shares, Outstanding, Beginning Balance at Sep. 30, 2020 | 3,740,000 | |||
Net loss | (19,388) | (19,388) | ||
Balance - December 31, 2020 at Dec. 31, 2020 | $ 3,740 | 31,989 | (74,332) | (38,603) |
Shares, Outstanding, Ending Balance at Dec. 31, 2020 | 3,740,000 | |||
Balance - June 30, 2020 at Jun. 30, 2021 | $ 75,000 | (20,916) | (222,768) | (168,684) |
Shares, Outstanding, Beginning Balance at Jun. 30, 2021 | 75,000,000 | |||
Forgiveness of related party debt | 5,801 | 5,801 | ||
Net loss | (192,418) | (192,418) | ||
Balance - December 31, 2020 at Sep. 30, 2021 | $ 75,000 | (15,115) | (415,186) | (355,301) |
Shares, Outstanding, Ending Balance at Sep. 30, 2021 | 75,000,000 | |||
Balance - June 30, 2020 at Jun. 30, 2021 | $ 75,000 | (20,916) | (222,768) | (168,684) |
Shares, Outstanding, Beginning Balance at Jun. 30, 2021 | 75,000,000 | |||
Forgiveness of related party debt | 5,801 | |||
Net loss | (243,252) | |||
Balance - December 31, 2020 at Dec. 31, 2021 | $ 75,000 | (15,115) | (466,021) | (406,136) |
Shares, Outstanding, Ending Balance at Dec. 31, 2021 | 75,000,000 | |||
Balance - June 30, 2020 at Sep. 30, 2021 | $ 75,000 | (15,115) | (415,186) | (355,301) |
Shares, Outstanding, Beginning Balance at Sep. 30, 2021 | 75,000,000 | |||
Net loss | (50,834) | (50,834) | ||
Balance - December 31, 2020 at Dec. 31, 2021 | $ 75,000 | $ (15,115) | $ (466,021) | $ (406,136) |
Shares, Outstanding, Ending Balance at Dec. 31, 2021 | 75,000,000 |
Organization and basis of accou
Organization and basis of accounting | 6 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Organization and basis of accounting | Note 1 – Organization and basis of accounting Basis of Presentation and Organization Ketdarina Corp. was incorporated under the laws of the State of Nevada on July 13, 2011. Until November 19, 2014, we were in the business of wholesale of bedding products to industrial, commercial and institutional retailers, and other professional business users, or to other wholesalers and related subordinated services. On November 19, 2014, as reported in our Form 8-K which was filed with the Securities and Exchange Commission on November 28, 2014, the previous principal shareholders: (a) sold their shares to Western Highlands Minerals, Ltd., a Vietnamese corporation WHM); (b) resigned as our management and appointed WHMs designees as new management, (c) took over the inactive bedding business from us, and (d) cancelled all previous debt which we owed to them. Since the change of control, although engaging in ongoing discussions, WHM and its designees have not entered into any agreements or understandings by which we would acquire any assets or a business. On December 16, 2020, as a result of a receivership in Clark County, Nevada, Case Number: A-20-816621-B, Custodian Ventures LLC (Custodian) was appointed receiver of Ketdarina Corp. (the Company). On that same date, Custodian appointed David Lazar as the Companys Chief Executive Officer, President, Secretary, Chief Financial Officer, Chief Executive Officer and Chairman of the Board of Directors. On April 6, 2021, Custodian Ventures LLC (the Seller), entered into a Common Stock Purchase Agreement (the SPA) pursuant to which the Seller agreed to sell to Calgary Thunder Bay Limited (the Purchaser), the 71,260,000 On that same date, Mr. David Lazar, who was the Registrants sole officer and director, submitted his resignation from all management positions and appointed Brett Lovegrove as the sole director and officer of the Company. On May 7, 2021, by consent of the Companys sole director and Calgary Thunder Bay Limited, as majority shareholder, the Company amended its corporate name to ZHRH Corporation and the name change became effective on July 16, 2021. On July 16, 2021, the Company changed its trading symbol from KTDR to ZHEC. On October 4, 2021, the Board of Directors of the Company increased the size of the Board by two persons and appointed each James Purnell Bond and Aymar de Lencquesaing as directors of the Company effective as of October 4, 2021. On October 4, 2021, the Board of the Company adopted Amended and Restated Bylaws. On October 25, 2021, we entered into an amendment with Blue Oak Advisory Limited (Blue Oak) and Zhonguan Ruiheng Environmental Technology Company Limited (ZHRH China) (the Amendment), which was an amendment to an original agreement between ZHRH China and Blue Oak dated January 6, 2021, (the Original Agreement). The Company was not a party to the Original Agreement between ZHRH China and Blue Oak. The Amendment is effective as of October 25, 2021, and sets forth that Mr. Jean-Michel Doublet is to be appointed as the Companys Chief Executive Officer and Mr. Lionel Therond is to be appointed as the Companys Chief Financial Officer. The Amendment was entered into with the intent to set forth renumeration to be received by Mr. Jean-Michel Doublet and Mr. Lionel Therond in connection with any proposed business combination in which the Company acquires ZHRH China. The Company has not entered into any agreements, letters of intent or any other oral or written agreements in connection with any proposed business combination in which the Company acquires ZHRH China, other than the Amendment. There can be no assurance that the Company will enter into any letters of intent or any other oral or written agreements in connection with any proposed business combination in which the Company acquires ZHRH China, or that any such business combination can occur at all (the Proposed Business Combination). Pursuant to the Amendment, each Mr. Jean-Michel Doublet and Mr. Lionel Therond are to provide 25% of their working hours each week to their duties to the Company in exchange for the following: (i) Blue Oak is to receive an increased success fee under the Original Agreement upon consummation of the Proposed Business Combination, (ii) Mr. Jean-Michel Doublet and Mr. Lionel Therond are each to receive 0.5% of the Companys common stock on a fully diluted basis upon the occurrence of the Proposed Business Combination to vest 50% upon completion of the Proposed Business Combination and 50% 6 months thereafter and (iii) Mr. Jean-Michel Doublet and Mr. Lionel Therond are each to receive additional shares constituting 1.5% of the Companys then fully diluted common stock to vest upon the Companys uplisting to the OTCQB or Nasdaq. On October 25, 2021, Mr. Brett Lovegrove, who has served as the sole director and officer of the Company since April 13, 2021, resigned from all officer positions with the Company effective on the same date. On October 25, 2021, the Board of Directors of the Company took the following actions: (i) appointed Mr. Jean-Michel Doublet as the Companys Chief Executive Officer, (ii) appointed Mr. Lionel Therond as the Companys Chief Financial Officer and (iii) appointed Mr. Brett Lovegrove as the Chairman of the Board, all effective on the same date. Mr. Doublet is a beneficial owner of 60% of Blue Oak and is the Chief Executive Officer of Blue Oak. Mr. Lionel Therond is a beneficial owner of 40% of Blue Oak and is a director at Blue Oak. Blue Oak is set to receive remuneration from the Company in connection with the Proposed Business Combination pursuant to the Original Agreement. The accompanying condensed financial statements are prepared on the basis of accounting principles generally accepted in the United States of America (GAAP). The Company is a development stage enterprise devoting substantial efforts to establishing a new business, financial planning, raising capital, and research into products which may become part of the Companys product portfolio. The Company has not realized significant sales through since inception. A development stage company is defined as one in which all efforts are devoted substantially to establishing a new business and, even if planned principal operations have commenced, revenues are insignificant. |
Going Concern
Going Concern | 6 Months Ended |
Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern | Note 2- Going Concern The accompanying condensed financial statements have been prepared assuming the continuation of the Company as a going concern. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and is dependent on debt and equity financing to fund its operations. Management of the Company is making efforts to raise additional funding until a registration statement relating to an equity funding facility is in effect. While management of the Company believes that it will be successful in its capital formation and planned operating activities, there can be no assurance that the Company will be able to raise additional equity capital or be successful in the development and commercialization of the products it develops or initiates collaboration agreements thereon. The accompanying financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the possible inability of the Company to continue as a going concern. |
Summary of significant accounti
Summary of significant accounting policies | 6 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Summary of significant accounting policies | Note 3 – Summary of significant accounting policies Cash and Cash Equivalents For purposes of reporting within the statements of cash flows, the Company considers all cash on hand, cash accounts not subject to withdrawal restrictions or penalties, and all highly liquid debt instruments purchased with a maturity of three months or less to be cash and cash equivalents. Employee Stock-Based Compensation The Company accounts for stock-based compensation in accordance with ASC 718 Compensation - Stock Compensation (ASC 718). ASC 718 addresses all forms of share-based payment (SBP) awards including shares issued under employee stock purchase plans and stock incentive shares. Under ASC 718 awards result in a cost that is measured at fair value on the awards grant date, based on the estimated number of awards that are expected to vest and will result in a charge to operations. Fair Value Measurement The Company values its amounts due to related partings and short term loans payable under FASB ASC 820 which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The Company utilizes market data or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable. The Company classifies fair value balances based on the observability of those inputs. ASC 820 establishes a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurement). The three levels of the fair value hierarchy are as follows: Level 1 – Quoted prices are available in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of financial instruments such as exchange-traded derivatives, marketable securities and listed equities. Level 2 – Valuations for assets and liabilities that can be obtained from readily available pricing sources via independent providers for market transactions involving similar assets or liabilities. The Companys principal markets for these securities are the secondary institutional markets, and valuations are based on observable market data in those markets. Level 3 – Pricing inputs include significant inputs that are generally less observable from objective sources. These inputs may be used with internally developed methodologies that result in managements best estimate of fair value. The Company uses Level 3 to value its derivative instruments. Subsequent Event The Company evaluated subsequent events through the date when financial statements are issued for disclosure consideration. Recent Accounting Pronouncements On December 18, 2019, the FASB issued ASU 2019-12, which modifies ASC 740 to simplify the accounting for income taxes. The ASUs amendments are based on changes that were suggested by stakeholders as part of the FASBs simplification initiative (i.e., the Boards effort to reduce the complexity of accounting standards while maintaining or enhancing the helpfulness of information provided to financial statement users. This ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. The Company believes this will have an impact on its consolidated financial statements and has therefore implemented this ASU. On January 16, 2020, the FASB issued ASU 2020-01 in response to an EITF consensus. The ASU makes improvements related to the following two topics: (a) Accounting for certain equity securities when the equity method of accounting is applied or discontinued — The ASU clarifies that an entity should consider observable transactions that require it to either apply or discontinue the equity method of accounting for the purposes of applying the measurement alternative in accordance with Topic 321 immediately before applying or upon discontinuing the equity method. (b) Scope considerations related to forward contracts and purchased options on certain securities — The ASU clarifies that for the purpose of applying paragraph 815-10- 15-141(a) an entity should not consider whether, upon the settlement of the forward contract or exercise of the purchased option, individually or with existing investments, the underlying securities would be accounted for under the equity method in Topic 323 or the fair value option in accordance with the financial instruments guidance in Topic 825. This ASU is effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. The Company does not believe that this ASU will have an impact of this on its consolidated financial statements. Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the SEC did not or in managements opinion will not have a material impact on the Companys present or future consolidated financial statements. |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Dec. 31, 2021 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note 4 – Related Party Transactions On December 16, 2020, as a result of a receivership in Clark County, Nevada, Case Number: A-20-816621-B, Custodian Ventures LLC (Custodian) was appointed receiver of Ketdarina Corp. (the Company). On that same date, Custodian appointed David Lazar as the Companys Chief Executive Officer, President, Secretary, Chief Financial Officer, Chief Executive Officer and Chairman of the Board of Directors. During the fiscal year July 01, 2020 thru April 06, 2021, David Lazar 26,195 71,260,000 18,355 5,801 0 5,179 During the six months ended December 31, 2021, Calgary Thunder Bay paid $ 128,635 230,855 On October 25, 2021, we entered into an amendment with Blue Oak Advisory Limited (Blue Oak) and Zhonguan Ruiheng Environmental Technology Company Limited (ZHRH China) (the Amendment), which was an amendment to an original agreement between ZHRH China and Blue Oak dated January 6, 2021, (the Original Agreement). The Company was not a party to the Original Agreement between ZHRH China and Blue Oak. The Amendment is effective as of October 25, 2021, and sets forth that Mr. Jean-Michel Doublet is to be appointed as the Companys Chief Executive Officer and Mr. Lionel Therond is to be appointed as the Companys Chief Financial Officer. The Amendment was entered into with the intent to set forth renumeration to be received by Mr. Jean-Michel Doublet and Mr. Lionel Therond in connection with any proposed business combination in which the Company acquires ZHRH China. The Company has not entered into any agreements, letters of intent or any other oral or written agreements in connection with any proposed business combination in which the Company acquires ZHRH China, other than the Amendment. There can be no assurance that the Company will enter into any letters of intent or any other oral or written agreements in connection with any proposed business combination in which the Company acquires ZHRH China, or that any such business combination can occur at all (the Proposed Business Combination). Pursuant to the Amendment, each Mr. Jean-Michel Doublet and Mr. Lionel Therond are to provide 25% of their working hours each week to their duties to the Company in exchange for the following: (i) Blue Oak is to receive an increased success fee under the Original Agreement upon consummation of the Proposed Business Combination, (ii) Mr. Jean-Michel Doublet and Mr. Lionel Therond are each to receive 0.5% of the Companys common stock on a fully diluted basis upon the occurrence of the Proposed Business Combination to vest 50% upon completion of the Proposed Business Combination and 50% 6 months thereafter and (iii) Mr. Jean-Michel Doublet and Mr. Lionel Therond are each to receive additional shares constituting 1.5% of the Companys then fully diluted common stock to vest upon the Companys uplisting to the OTCQB or Nasdaq. Mr. Doublet is a beneficial owner of 60% of Blue Oak and is the Chief Executive Officer of Blue Oak. Mr. Lionel Therond is a beneficial owner of 40% of Blue Oak and is a director at Blue Oak. Blue Oak is set to receive remuneration from the Company in connection with the Proposed Business Combination pursuant to the Original Agreement. |
Common stock
Common stock | 6 Months Ended |
Dec. 31, 2021 | |
Equity [Abstract] | |
Common stock | Note 5 – Common stock On March 09, 2021, the Company issued 71,260,000 18,355 As of December 31, 2021, 75,000,000 0.001 |
Additional paid in capital
Additional paid in capital | 6 Months Ended |
Dec. 31, 2021 | |
Additional Paid In Capital | |
Additional paid in capital | Note 6 – Additional paid in capital On April 12, 2021, Custodian Ventures forgave all amounts owing to them by the Company in the amount of $ 5,801 |
Subsequent Events
Subsequent Events | 6 Months Ended |
Dec. 31, 2021 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 7 – Subsequent Events In accordance with ASC 855 the Companys management reviewed all material events through the date these financial statements were available to be issued, there was only one material subsequent event. |
Summary of significant accoun_2
Summary of significant accounting policies (Policies) | 6 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Cash and Cash Equivalents | Cash and Cash Equivalents For purposes of reporting within the statements of cash flows, the Company considers all cash on hand, cash accounts not subject to withdrawal restrictions or penalties, and all highly liquid debt instruments purchased with a maturity of three months or less to be cash and cash equivalents. |
Employee Stock-Based Compensation | Employee Stock-Based Compensation The Company accounts for stock-based compensation in accordance with ASC 718 Compensation - Stock Compensation (ASC 718). ASC 718 addresses all forms of share-based payment (SBP) awards including shares issued under employee stock purchase plans and stock incentive shares. Under ASC 718 awards result in a cost that is measured at fair value on the awards grant date, based on the estimated number of awards that are expected to vest and will result in a charge to operations. |
Fair Value Measurement | Fair Value Measurement The Company values its amounts due to related partings and short term loans payable under FASB ASC 820 which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The Company utilizes market data or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable. The Company classifies fair value balances based on the observability of those inputs. ASC 820 establishes a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurement). The three levels of the fair value hierarchy are as follows: Level 1 – Quoted prices are available in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of financial instruments such as exchange-traded derivatives, marketable securities and listed equities. Level 2 – Valuations for assets and liabilities that can be obtained from readily available pricing sources via independent providers for market transactions involving similar assets or liabilities. The Companys principal markets for these securities are the secondary institutional markets, and valuations are based on observable market data in those markets. Level 3 – Pricing inputs include significant inputs that are generally less observable from objective sources. These inputs may be used with internally developed methodologies that result in managements best estimate of fair value. The Company uses Level 3 to value its derivative instruments. |
Subsequent Event | Subsequent Event The Company evaluated subsequent events through the date when financial statements are issued for disclosure consideration. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements On December 18, 2019, the FASB issued ASU 2019-12, which modifies ASC 740 to simplify the accounting for income taxes. The ASUs amendments are based on changes that were suggested by stakeholders as part of the FASBs simplification initiative (i.e., the Boards effort to reduce the complexity of accounting standards while maintaining or enhancing the helpfulness of information provided to financial statement users. This ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. The Company believes this will have an impact on its consolidated financial statements and has therefore implemented this ASU. On January 16, 2020, the FASB issued ASU 2020-01 in response to an EITF consensus. The ASU makes improvements related to the following two topics: (a) Accounting for certain equity securities when the equity method of accounting is applied or discontinued — The ASU clarifies that an entity should consider observable transactions that require it to either apply or discontinue the equity method of accounting for the purposes of applying the measurement alternative in accordance with Topic 321 immediately before applying or upon discontinuing the equity method. (b) Scope considerations related to forward contracts and purchased options on certain securities — The ASU clarifies that for the purpose of applying paragraph 815-10- 15-141(a) an entity should not consider whether, upon the settlement of the forward contract or exercise of the purchased option, individually or with existing investments, the underlying securities would be accounted for under the equity method in Topic 323 or the fair value option in accordance with the financial instruments guidance in Topic 825. This ASU is effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. The Company does not believe that this ASU will have an impact of this on its consolidated financial statements. Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the SEC did not or in managements opinion will not have a material impact on the Companys present or future consolidated financial statements. |
Organization and basis of acc_2
Organization and basis of accounting (Details Narrative) | Apr. 06, 2021shares |
Common Stock [Member] | Calgary Thunder Bay Limited [Member] | |
Stock Issued During Period, Shares, Other | 71,260,000 |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - USD ($) | Apr. 12, 2021 | Mar. 09, 2021 | Dec. 31, 2021 | Sep. 30, 2021 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Apr. 06, 2021 | Jun. 30, 2021 |
Related Party Transaction [Line Items] | |||||||||
Legal Fees | $ 40,635 | $ 2,500 | $ 127,412 | $ 5,000 | |||||
Forgiveness of related party debt | $ 5,801 | 5,801 | |||||||
Due to Related Parties, Current | 230,855 | 230,855 | $ 108,020 | ||||||
Operating Expenses | 50,834 | $ 19,388 | 243,252 | $ 21,888 | |||||
Custodian Ventures LLC [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Debt Conversion, Converted Instrument, Amount | $ 18,355 | ||||||||
Due to Related Parties, Current | 0 | $ 5,179 | |||||||
Calgary Thunder Bay Limited [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Due to Related Parties, Current | $ 230,855 | 230,855 | |||||||
Operating Expenses | $ 128,635 | ||||||||
Common Stock [Member] | Custodian Ventures LLC [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Debt Conversion, Converted Instrument, Shares Issued | 71,260,000 | ||||||||
Additional Paid-in Capital [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Forgiveness of related party debt | $ 5,801 | ||||||||
Additional Paid-in Capital [Member] | Custodian Ventures LLC [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Forgiveness of related party debt | $ 5,801 | ||||||||
David Lazar | |||||||||
Related Party Transaction [Line Items] | |||||||||
Legal Fees | $ 26,195 |
Common stock (Details Narrative
Common stock (Details Narrative) - USD ($) | Mar. 09, 2021 | Dec. 31, 2021 | Jun. 30, 2021 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Common Stock, Shares, Outstanding | 75,000,000 | 75,000,000 | |
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | |
Custodian Ventures LLC [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Debt Conversion, Converted Instrument, Amount | $ 18,355 | ||
Common Stock [Member] | Custodian Ventures LLC [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Debt Conversion, Converted Instrument, Shares Issued | 71,260,000 |
Additional paid in capital (Det
Additional paid in capital (Details Narrative) - USD ($) | Apr. 12, 2021 | Sep. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 |
Forgiveness of related party debt | $ 5,801 | $ 5,801 | ||
Additional Paid-in Capital [Member] | ||||
Forgiveness of related party debt | $ 5,801 | |||
Additional Paid-in Capital [Member] | Custodian Ventures LLC [Member] | ||||
Forgiveness of related party debt | $ 5,801 |