Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Jul. 31, 2014 | Sep. 10, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'Greenpro, Inc. | ' |
Entity Central Index Key | '0001597846 | ' |
Amendment Flag | 'false | ' |
Current Fiscal Year End Date | '--10-31 | ' |
Document Type | '10-Q | ' |
Document Period End Date | 31-Jul-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 20,000,000 |
BalanceSheet
BalanceSheet (USD $) | Jul. 31, 2014 | Oct. 31, 2013 |
CURRENT ASSETS | ' | ' |
Cash | $42,659 | $61,205 |
Prepaid Expenses | 9,792 | ' |
Total Current Assets | 52,451 | 61,205 |
TOTAL ASSETS | 52,451 | 61,205 |
CURRENT LIABILITIES | ' | ' |
Loan from Related Parties | 82,500 | 82,500 |
Accrued Expenses | 1,850 | ' |
Total Current Liabilities | 84,350 | 82,500 |
TOTAL LIABILITIES | 84,350 | 82,500 |
STOCKHOLDERS' EQUITY | ' | ' |
Preferred Stock - Par value $0.0001; Authorized: 100,000,000 None issues and outstanding | ' | ' |
Common Stock - Par value $0.0001; Authorized: 500,000,000 Issued and Outstanding: 10,000,000 | 1,000 | 1,000 |
Accumulated Deficit | -32,899 | -22,295 |
Total Stockholders' Equity | -31,899 | -21,295 |
TOTAL LIABILITIES AND EQUITY | $52,451 | $61,205 |
Balance_Sheet_Parentheticals
Balance Sheet (Parentheticals) (USD $) | Jul. 31, 2014 | Oct. 31, 2013 |
Statement of Financial Position [Abstract] | ' | ' |
Preferred stock, value | $0.00 | $0.00 |
Preferred stock, shares authorized | 100,000,000 | 100,000,000 |
Preferred stock, shares issued | ' | ' |
Preferred stock, shares outstanding | ' | ' |
Common stock, value | $0.00 | $0.00 |
Common stock, shares authorized | 500,000,000 | 500,000,000 |
Common stock, shares issued | 10,000,000 | 10,000,000 |
Common stock, shares outstanding | 10,000,000 | 10,000,000 |
Statement_of_Operations
Statement of Operations (USD $) | 9 Months Ended | 12 Months Ended |
Jul. 31, 2014 | Jul. 31, 2014 | |
Income Statement [Abstract] | ' | ' |
REVENUE | ' | ' |
COST OF SERVICES | ' | ' |
GROSS PROFIT OR (LOSS) | ' | ' |
GENERAL AND ADMINISTRATIVE EXPENSES | 10,604 | 32,899 |
NET INCOME (LOSS) | ($10,604) | ($32,899) |
Earnings (loss) per share | $0 | $0 |
Weighted average number of common shares | 10,000,000 | 10,000,000 |
Statements_of_Cash_Flows
Statements of Cash Flows (USD $) | 9 Months Ended | 12 Months Ended |
Jul. 31, 2014 | Jul. 31, 2014 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' |
Net income (loss) | ($10,604) | ($32,899) |
Increase in loan from related parties | ' | 82,500 |
Increase in accrued expenses | 1,850 | 1,850 |
Increase in Prepaid expenses | -9,792 | -9,792 |
Net cash (used in) / provided by operating activities | -18,546 | 41,659 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' |
Net cash flows provided by (used in) investing activities | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' |
Contribution of Capital | ' | 1,000 |
Net cash flows provided by (used in) financing activities | ' | 1,000 |
CASH RECONCILIATION | ' | ' |
Net (decrease) / increase in cash | -18,546 | 42,659 |
Cash - beginning balance | 61,205 | ' |
CASH BALANCE - END OF PERIOD | $42,659 | $42,659 |
Summary_of_significant_account
Summary of significant accounting policies | 9 Months Ended |
Jul. 31, 2014 | |
Summary of significant accounting policies [Abstract] | ' |
Summary of significant accounting policies | ' |
1. Summary of significant accounting policies: | |
Industry: | |
Greenpro, Inc. (“Greenpro”) was incorporated on July 19, 2013 in the state of Nevada. Greenpro locates in Hong Kong. It intends to provide cloud system resolution and financial consulting service for small and mid-size businesses located in East Asia, with a focus in Hong Kong and Malaysia. Greenpro’s comprehensive range of services cover cloud accounting solutions, cross-border business solutions, record management services, and accounting outsourcing services. | |
The Company has adopted its fiscal year end of October 31. | |
Results of Operations and Ongoing Entity: | |
The Company is considered to be an ongoing entity for accounting purposes; however, there is substantial doubt as to the Company's ability to continue as a going concern. The Company's shareholders fund any shortfalls in the Company's cash-flow on a day to day basis during the time period that the Company is in the development stage. | |
Liquidity and Capital Resources: | |
In addition to the stockholder funding capital short-falls, the Company anticipates interested investors that intend to fund the Company's growth. | |
Cash and Cash Equivalents: | |
The Company considers cash on hand and amounts on deposit with financial institutions which have original maturities of three months or less to be cash and cash equivalents. | |
Basis of Accounting: | |
The Company's financial statements are prepared in accordance with U.S. generally accepted accounting principles. | |
Income Taxes: | |
The Company utilizes the asset and liability method to measure and record deferred income tax assets and liabilities. Deferred tax assets and liabilities reflect the future income tax effects of temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and are measured using enacted tax rates that apply to taxable income in the years which those temporary differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance when in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. At this time, the Company has set up an allowance for deferred taxes as there is no company history to indicate the usage of deferred tax assets and liabilities. | |
Fair Value of Financial Instruments: | |
The Company's financial instruments may include cash and cash equivalents, short-term investments, accounts receivable, accounts payable and liabilities to banks and shareholders. The carrying amount of long-term debt to banks approximates fair value based on interest rates that are currently available to the Company for issuance of debt with similar terms and remaining maturities. The carrying amounts of other financial instruments approximate their fair value because of short-term maturities. | |
Concentrations of Credit Risk: | |
Financial instruments which potentially expose The Company to concentrations of credit risk consist principally of operating demand deposit accounts. The Company's policy is to place its operating demand deposit accounts with high credit quality financial institutions. At this time The Company has no deposits that are at risk. |
Related_Party_Transactions_and
Related Party Transactions and Going Concern | 9 Months Ended |
Jul. 31, 2014 | |
Related Party Transactions and Going Concern [Abstract] | ' |
Related Party Transactions and Going Concern | ' |
2. Related Party Transactions and Going Concern: | |
The Company sold a total of 10,000,000 shares of our Common Stock to our officers at $0.0001 per share for aggregate proceeds of $1,000 in August 2013. | |
In August 2013, the Company issued two 8% Convertible Promissory Notes (the “Notes”) to our Chief Executive Officer, Lee Chong Kuang and our Chief Financial Officer, Loke Che Chan (the “Holders”), in the principal amount of $41,250 for each Note, pursuant to certain Securities Purchase Agreements dated August 12, 2013. The maturity date for the Notes has been extended to 31 August 2014 at 8% interest rate per annum. The Notes may be convertible to the Company’s Common Stock at the Holders’ election at a conversion price of $.00825 per share. On May 6, 2014, Mr. Lee and Mr. Loke and the Company signed the Letter of Amendment to extend the maturity date of both Notes to August 12, 2014. | |
The Company's financial statements have been presented on the basis that it is a going concern in the development stage, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. At this time The Company has not identified the business that it wishes to engage in. |
Accounts_Receivable_and_Custom
Accounts Receivable and Customer Deposits | 9 Months Ended |
Jul. 31, 2014 | |
Accounts Receivable and Customer Deposits [Abstract] | ' |
Accounts Receivable and Customer Deposits | ' |
3. Accounts Receivable and Customer Deposits: | |
Accounts receivable and Customer deposits do not exist at this time and therefore have no allowances accounted for or disclosures made. | |
Use_of_Estimates
Use of Estimates | 9 Months Ended |
Jul. 31, 2014 | |
Use of Estimates [Abstract] | ' |
Use of Estimates | ' |
4. Use of Estimates: | |
Management uses estimates and assumptions in preparing these financial statements in accordance with generally accepted accounting principles. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenue and expenses. Management has no reason to make estimates at this time. |
Revenue_and_Cost_Recognition
Revenue and Cost Recognition | 9 Months Ended |
Jul. 31, 2014 | |
Revenue and Cost Recognition [Abstract] | ' |
Revenue and Cost Recognition | ' |
5. Revenue and Cost Recognition: | |
The Company uses the accrual basis of accounting in accordance with generally accepted accounting principles for financial statement reporting. | |
Accrued_Expenses
Accrued Expenses | 9 Months Ended |
Jul. 31, 2014 | |
Accrued Expenses [Abstract] | ' |
Accrued Expenses | ' |
6. Accrued Expenses: | |
Accrued expenses consist of accrued audit fee and filing fee during for the period ended July 31, 2014. |
Operating_Lease_Agreements
Operating Lease Agreements | 9 Months Ended |
Jul. 31, 2014 | |
Operating Lease Agreements [Abstract] | ' |
Operating Lease Agreements | ' |
7. Operating Lease Agreements: | |
The Company has no agreements at this time. | |
Stockholders_Equity
Stockholder's Equity | 9 Months Ended |
Jul. 31, 2014 | |
Stockholder's Equity [Abstract] | ' |
Stockholder's Equity | ' |
8. Stockholder's Equity: | |
Preferred stock includes 100,000,000 shares authorized at a par value of $0.0001, of which none are issued or outstanding. | |
Common Stock includes 500,000,000 shares authorized at a par value of $0.0001, of which 10,000,000 have been issued for the amount of $1,000 in August 2013. | |
Required_Cash_Flow_Disclosure_
Required Cash Flow Disclosure for Interest and Taxes Paid | 9 Months Ended |
Jul. 31, 2014 | |
Required Cash Flow Disclosure for Interest and Taxes Paid [Abstract] | ' |
Required Cash Flow Disclosure For Interest And Taxes Paid | ' |
9. Required Cash Flow Disclosure for Interest and Taxes Paid: | |
The company has paid no amounts for federal income taxes and interest. | |
Earnings_Per_Share
Earnings Per Share | 9 Months Ended |
Jul. 31, 2014 | |
Earnings Per Share [Abstract] | ' |
Earnings Per Share | ' |
10. Earnings Per Share: | |
Basic earnings per share ("EPS") is computed by dividing earnings available to common shareholders by the weighted-average number of common shares outstanding for the period as required by the Financial Accounting Standards Board (FASB) under Statement of Financial Accounting Standards (SFAS) No. 128, "Earnings per Shares". Diluted EPS reflects the potential dilution of securities that could share in the earnings. |
Income_Taxes
Income Taxes | 9 Months Ended | ||||
Jul. 31, 2014 | |||||
Income Taxes [Abstract] | ' | ||||
Income Taxes | ' | ||||
11. Income Taxes: | |||||
The Company has available net operating loss carry-forwards for financial statement and federal income tax purposes. These loss carry-forwards expire if not used within 20 years from the year generated. The Company's management has decided a valuation allowance is necessary to reduce any tax benefits because the available benefits are more likely than not to expire before they can be used. These net operating losses expire as the following: $32,899 at 2033. | |||||
The Company has available net operating loss carry-forwards for financial statement and federal income tax purposes. These loss carry-forwards expire if not used within 20 years from the year generated. The Company's management has decided a valuation allowance is necessary to reduce any tax benefits because the available benefits are more likely than not to expire before they can be used. | |||||
The Company's management determines if a valuation allowance is necessary to reduce any tax benefits when the available benefits are more likely than not to expire before they can be used. The tax based net operating losses create tax benefits in the amount of $1,128 from inception through July 31, 2014. | |||||
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial statement purposes and the amounts used for income tax purposes. Significant components of the Company's deferred tax liabilities and assets as of July 31, 2014 are as follows: | |||||
Deferred tax assets: | |||||
Federal net operating loss | $ | 32,899 | |||
State net operating loss | - | ||||
Total Deferred Tax Asset | 1,128 | ||||
Less valuation allowance | (1,128 | ) | |||
The reconciliation of the effective income tax rate to the federal statutory rate is as follows: | |||||
Federal income tax rate | 15 | % | |||
State tax, net of federal benefit | 5 | % | |||
Increase in valuation allowance | (20.0 | %) | |||
Effective income tax rate | 0 | % |
Summary_of_significant_account1
Summary of significant accounting policies (Policies) | 9 Months Ended |
Jul. 31, 2014 | |
Summary of significant accounting policies [Abstract] | ' |
Industry | ' |
Industry: | |
Greenpro, Inc. (“Greenpro”) was incorporated on July 19, 2013 in the state of Nevada. Greenpro locates in Hong Kong. It intends to provide cloud system resolution and financial consulting service for small and mid-size businesses located in East Asia, with a focus in Hong Kong and Malaysia. Greenpro’s comprehensive range of services cover cloud accounting solutions, cross-border business solutions, record management services, and accounting outsourcing services. | |
The Company has adopted its fiscal year end of October 31. | |
Results of Operations and Ongoing Entity | ' |
Results of Operations and Ongoing Entity: | |
The Company is considered to be an ongoing entity for accounting purposes; however, there is substantial doubt as to the Company's ability to continue as a going concern. The Company's shareholders fund any shortfalls in the Company's cash-flow on a day to day basis during the time period that the Company is in the development stage. | |
Liquidity and Capital Resources | ' |
Liquidity and Capital Resources: | |
In addition to the stockholder funding capital short-falls, the Company anticipates interested investors that intend to fund the Company's growth. | |
Cash and Cash Equivalents | ' |
Cash and Cash Equivalents: | |
The Company considers cash on hand and amounts on deposit with financial institutions which have original maturities of three months or less to be cash and cash equivalents. | |
Basis of Accounting | ' |
Basis of Accounting: | |
The Company's financial statements are prepared in accordance with U.S. generally accepted accounting principles. | |
Income Taxes | ' |
Income Taxes: | |
The Company utilizes the asset and liability method to measure and record deferred income tax assets and liabilities. Deferred tax assets and liabilities reflect the future income tax effects of temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and are measured using enacted tax rates that apply to taxable income in the years which those temporary differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance when in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. At this time, the Company has set up an allowance for deferred taxes as there is no company history to indicate the usage of deferred tax assets and liabilities. | |
Fair Value of Financial Instruments | ' |
Fair Value of Financial Instruments: | |
The Company's financial instruments may include cash and cash equivalents, short-term investments, accounts receivable, accounts payable and liabilities to banks and shareholders. The carrying amount of long-term debt to banks approximates fair value based on interest rates that are currently available to the Company for issuance of debt with similar terms and remaining maturities. The carrying amounts of other financial instruments approximate their fair value because of short-term maturities. | |
Concentrations of Credit Risk | ' |
Concentrations of Credit Risk: | |
Financial instruments which potentially expose The Company to concentrations of credit risk consist principally of operating demand deposit accounts. The Company's policy is to place its operating demand deposit accounts with high credit quality financial institutions. At this time The Company has no deposits that are at risk. |
Income_Taxes_Tables
Income Taxes (Tables) | 9 Months Ended | ||||
Jul. 31, 2014 | |||||
Income Taxes [Abstract] | ' | ||||
Schedule of deferred tax assets and liabilities | ' | ||||
Deferred tax assets: | |||||
Federal net operating loss | $ | 32,899 | |||
State net operating loss | - | ||||
Total Deferred Tax Asset | 1,128 | ||||
Less valuation allowance | (1,128 | ) | |||
Schedule of reconciliation of the effective income tax rate | ' | ||||
Federal income tax rate | 15 | % | |||
State tax, net of federal benefit | 5 | % | |||
Increase in valuation allowance | (20.0 | %) | |||
Effective income tax rate | 0 | % |
Related_Party_Transactions_and1
Related Party Transactions and Going Concern (Details) (USD $) | Jul. 31, 2014 | Oct. 31, 2013 | Aug. 31, 2013 | 6-May-14 | Jul. 31, 2014 | Aug. 31, 2013 | 6-May-14 | Jul. 31, 2014 | Aug. 31, 2013 |
Officer [Member] | Lee Chong Kuang [Member] | Lee Chong Kuang [Member] | Lee Chong Kuang [Member] | Loke Che Chan [Member] | Loke Che Chan [Member] | Loke Che Chan [Member] | |||
Related Party Transactions And Going Concern (Textual) | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock issued | ' | ' | 10,000,000 | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of common stock | ' | ' | $1,000 | ' | ' | ' | ' | ' | ' |
Common stock, value | $0.00 | $0.00 | $0.00 | ' | ' | ' | ' | ' | ' |
Extended maturity date | ' | ' | ' | 12-Aug-14 | ' | ' | 12-Aug-14 | ' | ' |
Convertible promissory notes | ' | ' | ' | ' | ' | $41,250 | ' | ' | $41,250 |
Convertible promissory notes , interest rate | ' | ' | ' | ' | ' | 8.00% | ' | ' | 8.00% |
Convertible promissory notes , conversion price | ' | ' | ' | ' | ' | $0.01 | ' | ' | $0.01 |
Extended maturity date description | ' | ' | ' | ' | 'The maturity date for the Notes has been extended to 31 August 2014 at 8% interest rate per annum. | ' | ' | 'The maturity date for the Notes has been extended to 31 August 2014 at 8% interest rate per annum. | ' |
Stockholders_Equity_Details
Stockholder's Equity (Details) (USD $) | Jul. 31, 2014 | Oct. 31, 2013 |
Stockholder's Equity [Abstract] | ' | ' |
Preferred Stock, Shares Authorized | 100,000,000 | 100,000,000 |
Preferred Stock, Par or Stated Value Per Share | $0.00 | $0.00 |
Preferred Stock, Shares Issued | ' | ' |
Preferred Stock, Shares Outstanding | ' | ' |
Common Stock, Shares Authorized | 500,000,000 | 500,000,000 |
Common Stock, Par or Stated Value Per Share | $0.00 | $0.00 |
Common Stock, Shares, Issued | 10,000,000 | 10,000,000 |
Common Stock, Value, Issued | $1,000 | $1,000 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 9 Months Ended |
Jul. 31, 2014 | |
Deferred tax assets: | ' |
Federal net operating loss | $32,899 |
State net operating loss | ' |
Total Deferred Tax Asset | 1,128 |
Less valuation allowance | ($1,128) |
Income_Taxes_Details_1
Income Taxes (Details 1) | 9 Months Ended |
Jul. 31, 2014 | |
Effective Income Tax Rate Reconciliation, Percent [Abstract] | ' |
Federal income tax rate | 15.00% |
State tax, net of federal benefit | 5.00% |
Increase in valuation allowance | -20.00% |
Effective income tax rate | 0.00% |
Income_Taxes_Details_Textual
Income Taxes (Details Textual) (USD $) | 9 Months Ended |
Jul. 31, 2014 | |
Income Taxes Textual [Abstract] | ' |
Net operating loss carryforwards | $32,899 |
Operating loss carryforwards expiration date | 31-Jul-33 |
Loss carryforwards description | 'Within 20 years |
Income tax expense benefit | $1,128 |