Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Feb. 28, 2018 | Jul. 11, 2017 | Aug. 31, 2016 | |
Document Information [Line Items] | |||
Entity Registrant Name | FingerMotion, Inc. | ||
Entity Central Index Key | 1,602,409 | ||
Trading Symbol | fngr | ||
Current Fiscal Year End Date | --02-28 | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Common Stock, Shares Outstanding (in shares) | 17,435,753 | ||
Entity Public Float | $ 522,800 | ||
Document Type | 10-K | ||
Document Period End Date | Feb. 28, 2018 | ||
Document Fiscal Year Focus | 2,018 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Condensed Balance
Consolidated Condensed Balance Sheets - USD ($) | Feb. 28, 2018 | Feb. 28, 2017 |
Current Assets | ||
Cash | $ 10,551 | $ 13,346 |
Accounts receivable | 296,249 | 54,793 |
Equipment (net of $145 and $-0- depreciation) | 1,594 | |
Intangible assets (net of $114,583 and $-0- amortization) | 85,417 | |
Prepaid expenses | 40,534 | |
Other receivable | 5,494 | 5,589 |
TOTAL ASSETS | 439,839 | 73,728 |
Current Liabilities | ||
Accounts payable | 107,082 | 131,580 |
Other accrued expenses | 385,124 | 97,695 |
Accrued inetrest | 274 | |
Convertible notes | 50,000 | |
Due to related party | 1,646 | |
TOTAL LIABILITIES | 542,480 | 230,921 |
STOCKHOLDERS' DEFICIENCY | ||
Preferred stock, par value $0.0001 per share; Authorized 1,000,000 shares; issued and outstanding -0- shares. | ||
Common Stock, par value $0.0001 per share; Authorized 19,000,000 shares; issued and outstanding 17,432,753 shares. and 12,000,000 issued and outstanding at February 28, 2018 2017, respectively. | 1,743 | 1,200 |
Common stock subscribed | 150,000 | |
Additional paid-in capital | 1,655,130 | |
Accumulated deficit | (1,909,514) | (158,393) |
TOTAL STOCKHOLDERS' DEFICIENCY | (102,641) | (157,193) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY | $ 439,839 | $ 73,728 |
Consolidated Condensed Balance3
Consolidated Condensed Balance Sheets (Parentheticals) - USD ($) | Feb. 28, 2018 | Feb. 28, 2017 |
Depreciation | $ 145 | $ 0 |
Intangible assets, amortization | $ 114,583 | $ 0 |
Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized (in shares) | 19,000,000 | 19,000,000 |
Common stock, shares issued (in shares) | 17,432,753 | 12,000,000 |
Common stock, shares outstanding (in shares) | 17,432,753 | 12,000,000 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 11 Months Ended | 12 Months Ended | |
Feb. 28, 2017 | Feb. 28, 2018 | ||
Revenue | $ 67,734 | $ 453,543 | |
Cost of revenue | (52,737) | (434,717) | |
Gross profit | 14,997 | 18,826 | |
Amortization and depreciation | 114,728 | ||
General and administrative expenses | 173,390 | 1,653,666 | |
Total operating expenses | 173,390 | 1,768,394 | |
Net loss from operations | (158,393) | (1,749,568) | |
Other expense: | |||
Exchange rate loss | (1,279) | ||
Interest expense | (274) | ||
Total other expense | (1,553) | ||
Net Loss | $ (158,393) | $ (1,741,121) | |
Basic Loss Per Share (in dollars per share) | $ (0.06) | $ (0.15) | |
Diluted (Loss) Per Share (in dollars per share) | $ (0.06) | $ (0.15) | |
Wgt Ave Common Shares Outstanding - Basic * (in shares) | [1],[2] | 2,576,750 | 11,729,514 |
Wgt Ave Common Shares Outstanding - Diluted * (in shares) | [1],[2] | 2,576,750 | 11,760,199 |
[1] | Reflects 4 for 1 reverse split | ||
[2] | Reflects 4 to 1 reverse split as of June 23, 2017 |
Consolidated Statement of Stock
Consolidated Statement of Stockholders’ (Deficiency) Equity - 12 months ended Feb. 28, 2018 - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Common Stock Subscribed [Member] | Retained Earnings [Member] | Total | |
Balance (in shares) at Feb. 28, 2017 | 12,000,000 | |||||
Balance at Feb. 28, 2017 | $ 1,200 | $ (158,393) | $ (157,193) | |||
Common stock issued in reverse merger * (in shares) | 2,576,753 | |||||
Common stock issued in reverse merger * | [1] | $ 258 | (15,835) | (15,577) | ||
Common stock issued for cash (in shares) | 1,506,000 | |||||
Common stock issued for cash | $ 150 | 1,623,850 | 1,624,000 | |||
Fair value of common stock issued for services (in shares) | 1,350,000 | |||||
Fair value of common stock issued for services | $ 135 | 47,115 | 47,250 | |||
Stock subscribed | 150,000 | 150,000 | ||||
Net Loss | (1,751,121) | (1,741,121) | ||||
Balance (in shares) at Feb. 28, 2018 | 17,432,753 | |||||
Balance at Feb. 28, 2018 | $ 1,743 | $ 1,655,130 | $ 150,000 | $ (1,909,514) | $ (102,641) | |
[1] | Reflects 4 to 1 reverse stock split as of June 23, 2017 |
Consolidated Statement of Stoc6
Consolidated Statement of Stockholders’ (Deficiency) Equity (Parentheticals) | Jun. 21, 2017 | Feb. 28, 2018 |
Reverse Stock Split [Member] | ||
Reverse stock split | 4 | 4 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - USD ($) | 11 Months Ended | 12 Months Ended |
Feb. 28, 2017 | Feb. 28, 2018 | |
Net Loss | $ (158,393) | $ (1,741,121) |
Adjustments to reconcile decrease in net assets to net cash (used in) provided by operating activities: | ||
Amortization and depreciation | 114,728 | |
Common stock issued for services | 47,250 | |
Increase in accounts receivable | (54,793) | (241,456) |
Decrease (Increase) in other receivable | (4,389) | 95 |
Increase in prepaid expenses | (40,534) | |
Increase in accounts payable and other accrued expenses | 230,921 | 261,285 |
Increase in accrued interest | 274 | |
Cash (used in) provided by operating activities | 13,346 | (1,609,479) |
Cash flows from investing activities | ||
Purchase of equipment | (1,739) | |
Acquisition of licenses | (200,000) | |
Net cash used in investing activities | (201,739) | |
Cash flows from financing activities | ||
Proceeds from issuance of common stock | 1,624,000 | |
Common stock issued in reverse merger | (15,577) | |
Proceeds from convertible notes | 50,000 | |
Proceeds from stock subscriptions | 150,000 | |
Net cash provided by financing activities | 1,808,423 | |
Net change in cash | 13,346 | (2,795) |
Cash at beginning of year | 13,346 | |
Cash at end of year | 13,346 | 10,551 |
Supplemental disclosures of cash flow information: | ||
Interest paid | ||
Income tax paid |
Note 1 - Nature of Business and
Note 1 - Nature of Business and Basis of Presentation | 12 Months Ended |
Feb. 28, 2018 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | Note 1 FingerMotion, Inc. fka Property Management Corporation of America (the “Company”) was incorporated on January 23, 2014 third The Company changed its name to FingerMotion, Inc. on July 13, 2017 July 2017 April 6, 2016 Pursuant to the Share Exchange Agreement, the Company agreed to exchange the outstanding equity stock of FMCL held by the FMCL Shareholders for shares of common stock of the Company. At the Closing Date, the Company issued 12,000,000 600,000 The transaction was accounted for as a “reverse acquisition” since, immediately following completion of the transaction, the shareholders of FMCL effectuated control of the post-combination Company. For accounting purposes, FMCL was deemed to be the accounting acquirer in the transaction and, consequently, the transaction is treated as a recapitalization of FMCL (i.e., a capital transaction involving the issuance of shares by the Company for the shares of FMCL). Accordingly, the consolidated assets, liabilities and results of operations of FMCL became the historical financial statements of FingerMotion, Inc. and its subsidiaries, and the Company’s assets, liabilities and results of operations were consolidated with FMCL beginning on the acquisition date. No |
Note 2 - Summary of Principal A
Note 2 - Summary of Principal Accounting Policies | 12 Months Ended |
Feb. 28, 2018 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 2 Use Of Estimates The preparation of the Company’s financial statements in conformity with generally accepted accounting principles of 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 and the reported amounts of revenues and expenses during the reporting period. Management makes its best estimate of the ultimate outcome for these items based on historical trends and other information available when the financial statements are prepared. Actual results could differ from those estimates. Certain Risks And Uncertainties The Company relies on cloud based hosting through a global accredited hosting provider. Management believes that alternate sources are available; however, disruption or termination of this relationship could adversely affect our operating results in the near-term. Identifiable Intangible Assets Identifiable intangible assets are recorded at cost and are amortized over 3 10 may not Impairment Of Long-Lived Assets The Company classifies its long-lived assets into: (i) computer and office equipment; (ii) furniture and fixtures, (iii) leasehold improvements, and (iv) finite – lived intangible assets. Long-lived assets held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of such assets may not first not third The Company makes various assumptions and estimates regarding estimated future cash flows and other factors in determining the fair values of the respective assets. The assumptions and estimates used to determine future values and remaining useful lives of long-lived assets are complex and subjective. They can be affected by various factors, including external factors such as industry and economic trends, and internal factors such as the Company’s business strategy and its forecasts for specific market expansion. Accounts Receivable And Concentration Of Risk Accounts receivable, net is stated at the amount the Company expects to collect, or the net realizable value. The Company provides a provision for allowances that includes returns, allowances and doubtful accounts equal to the estimated uncollectible amounts. The Company estimates its provision for allowances based on historical collection experience and a review of the current status of trade accounts receivable. It is reasonably possible that the Company’s estimate of the provision for allowances will change. Cash And Cash Equivalents Cash and cash equivalents represent cash on hand, demand deposits, and other short-term highly liquid investments placed with banks, which have original maturities of three Property and Equipment Property and equipment are stated at cost. Depreciation of property and equipment is provided using the straight-line method for financial reporting purposes at rates based on the estimated useful lives of the assets. Estimated useful lives range from three seven 360 45. Convertible notes In accordance with ASC subtopic 470 20, first one may not Earnings Per Share Basic (loss) earnings per share is based on the weighted average number of common shares outstanding during the period while the effects of potential common shares outstanding during the period are included in diluted earnings per share. FASB Accounting Standard Codification Topic 260 260” not 260 Revenue Recognition The Company recognizes revenue from providing hosting and integration services and licensing the use of its technology platform to its customers. The Company recognizes revenue when all of the following conditions are satisfied: ( 1 2 3 4 Income Taxes The Company uses the asset and liability method of accounting for income taxes in accordance with Accounting Standards Codification (“ASC”) 740, 740” not not Recently Issued Accounting Pronouncements In July 2017, No. 2017 11, 260 480 815 no December 15, 2018, In May 2017, No. 2017 09, 718 1 2 718, 718. The amendments are effective for fiscal years beginning after December 15, 2017, not In March 2017, No. 2017 08, 310 20 December 15, 2018. In February 2017, No. 2017 05, 610 20 610 20, 610 20, May 2014 No. 2014 09, 606 December 15, 2017, No. 2014 09, In January 2017, No. 2017 03, 250 No. 2014 09, 606 No. 2016 02, 842 No. 2016 13, 326 Between May 2014 December 2016, 606 five may December 15, 2017, not 2018. In November 2016, No. 2016 18, 230 December 15, 2017, |
Note 3 - Going Concern
Note 3 - Going Concern | 12 Months Ended |
Feb. 28, 2018 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | Note 3 The accompanying unaudited financial statements have been prepared assuming the Company will continue as a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the normal course of business. The Company had an accumulated deficit of $1,909,514 $158,393 February 28, 2018 2017, $1,741,121and $158,393 February 28, 2018 April 6, 2016 February 28, 2017, The Company’s continuation as a going concern is dependent on its ability to obtain additional financing to fund operations, implement its business model, and ultimately, attain profitable operations. The Company will need to secure additional funds through various means, including equity and debt financing or any similar financing. There can be no may |
Note 4 - Equipment
Note 4 - Equipment | 12 Months Ended |
Feb. 28, 2018 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 4 As of February 28, 2018 2017, February 28, February 28, 2018 2017 Equipment $ 1,739 $ - Less: accumulated depreciation (145 ) - Net equipment $ 1,594 $ - No February 28, 2018 April 6, 2016 February 28, 2017 $145 0 |
Note 5 - Intangible Assets
Note 5 - Intangible Assets | 12 Months Ended |
Feb. 28, 2018 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | Note 5 As of February 28, 2018 2017, February 28, February 28, 2018 2017 Licenses $ 200,000 $ - Less: accumulated amortization (114,583 ) - Net intangible assets $ 85,417 $ - No February 28, 2018 April 6, 2016 February 28, 2017 $114,583 0 The remaining amortization period of the Company’s amortizable intangible assets is approximately 8 February 28, 2018. For year ended February 28, Estimated Amortization Expenses 2019 $ 85,417 |
Note 6 - Convertible Notes
Note 6 - Convertible Notes | 12 Months Ended |
Feb. 28, 2018 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 6 – Convertible Notes The convertible note having a Face Value of $50,000 February 28, 2018 10% January 8, 2019. $0.0001 $2.50 no |
Note 7 - Common Stock
Note 7 - Common Stock | 12 Months Ended |
Feb. 28, 2018 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | Note 7 On June 21, 2017, 1 4 200,000,000 June 21, 2017. Effective July 13, 2017 ( 12,000,000 600,000 2,562,500 The Company issued approximately 2,836,000 February 28, 2018, 1,350,000 $0.035 400,000, 470,000 636,000 $0.50, $1.00 $1.50, 150,000 $150,000. February 28, 2018, 150,000 not Also, in September 2017, 1,900,000 350,000 The Company declared no February 28, 2018. |
Note 8 - Common Stock Subscribe
Note 8 - Common Stock Subscribed | 12 Months Ended |
Feb. 28, 2018 | |
Notes to Financial Statements | |
Common Stock Subscribed, Disclosure [Text Block] | Note 8 The Company has received $150,000 not February 28, 2018. |
Note 9 - Related Party Transact
Note 9 - Related Party Transactions | 12 Months Ended |
Feb. 28, 2018 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 9 One hundred percent ( 100% April 14, 2017 two no The Company sublet an approximate 250 $350 $350 $1,050 February 28, 2018 April 6, 2016 February 28, 2017, March 2017. |
Note 10 - Earnings Per Share
Note 10 - Earnings Per Share | 12 Months Ended |
Feb. 28, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 10 The following table sets forth the computation of basic and diluted earnings per common share: Year ended February 28, 2018 Period from April 6, 2016 Inception to February 28, 2017 Numerator - basic Net Loss $ (1,751,121 ) $ (158,394 ) Numerator - diluted Net Loss $ (1,750,847 ) $ (158,394 ) Weighted average number of common shares outstanding —basic * 11,729,514 2,576,750 Weighted average number of common shares outstanding —diluted * 11,760,199 2,576,750 Loss per common share — basic $ (0.15 ) $ (0.06 ) Loss per common share —diluted $ (0.15 ) $ (0.06 * Reflects 4 1 |
Note 11 - Income Taxes
Note 11 - Income Taxes | 12 Months Ended |
Feb. 28, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 11 The Company and its subsidiaries file separate income tax returns. The United States of America FingerMotion, Inc. is incorporated in the State of Delaware in the U.S., and is subject to a U.S. federal corporate income tax of 21% not February 28, 2018 April 6, 2016 February 28, 2017, 21% 34%, Hong Kong Finger Motion Company Limited is incorporated in Hong Kong and Hong Kong’s profits tax rate is 16.5%. not February 28, 2018 April 6, 2016 February 28, 2017, not The Company’s effective income tax rates were 21% 34% February 28, 2018 April 6, 2016 February 28, 2017, Year ended February 28, 2018 Period from April 6, 2016 Inception to February 28, 2017 U.S. statutory tax rate 21 % 34.0 % Hong Kong profit tax rate 16.5 % 16.5 % Foreign income not registered in the Hong Kong (16.5 )% (16.5 )% Others 0.0 % 0.0 % Effective tax rate 21.0 % 34.0 % As of February 28, 2018 2017, $367,735 $19,240, not February 28, 2018 2017, $367,735 $19,240, February 28, February 28, 2018 2017 Deferred tax asset from operating losses carry-forwards $ 367,735 $ 19,240 Valuation allowance (367,735 ) (19,240 ) Deferred tax asset, net $ - $ - |
Note 12 - Commitments and Conti
Note 12 - Commitments and Contingents | 12 Months Ended |
Feb. 28, 2018 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 12 Operating lease The Company did not February 28, 2018. Legal proceedings The Company is not |
Note 13 - Subsequent Events
Note 13 - Subsequent Events | 12 Months Ended |
Feb. 28, 2018 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 13 The Company has evaluated all transactions from February 28, 2018 no |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Feb. 28, 2018 | |
Accounting Policies [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | Use Of Estimates The preparation of the Company’s financial statements in conformity with generally accepted accounting principles of 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 and the reported amounts of revenues and expenses during the reporting period. Management makes its best estimate of the ultimate outcome for these items based on historical trends and other information available when the financial statements are prepared. Actual results could differ from those estimates. |
Certain Risks And Uncertainties [Policy Text Block] | Certain Risks And Uncertainties The Company relies on cloud based hosting through a global accredited hosting provider. Management believes that alternate sources are available; however, disruption or termination of this relationship could adversely affect our operating results in the near-term. |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Identifiable Intangible Assets Identifiable intangible assets are recorded at cost and are amortized over 3 10 may not |
Property, Plant and Equipment, Impairment [Policy Text Block] | Impairment Of Long-Lived Assets The Company classifies its long-lived assets into: (i) computer and office equipment; (ii) furniture and fixtures, (iii) leasehold improvements, and (iv) finite – lived intangible assets. Long-lived assets held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of such assets may not first not third The Company makes various assumptions and estimates regarding estimated future cash flows and other factors in determining the fair values of the respective assets. The assumptions and estimates used to determine future values and remaining useful lives of long-lived assets are complex and subjective. They can be affected by various factors, including external factors such as industry and economic trends, and internal factors such as the Company’s business strategy and its forecasts for specific market expansion. |
Receivables, Policy [Policy Text Block] | Accounts Receivable And Concentration Of Risk Accounts receivable, net is stated at the amount the Company expects to collect, or the net realizable value. The Company provides a provision for allowances that includes returns, allowances and doubtful accounts equal to the estimated uncollectible amounts. The Company estimates its provision for allowances based on historical collection experience and a review of the current status of trade accounts receivable. It is reasonably possible that the Company’s estimate of the provision for allowances will change. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash And Cash Equivalents Cash and cash equivalents represent cash on hand, demand deposits, and other short-term highly liquid investments placed with banks, which have original maturities of three |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment are stated at cost. Depreciation of property and equipment is provided using the straight-line method for financial reporting purposes at rates based on the estimated useful lives of the assets. Estimated useful lives range from three seven 360 45. |
Debt, Policy [Policy Text Block] | Convertible notes In accordance with ASC subtopic 470 20, first one may not |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Share Basic (loss) earnings per share is based on the weighted average number of common shares outstanding during the period while the effects of potential common shares outstanding during the period are included in diluted earnings per share. FASB Accounting Standard Codification Topic 260 260” not 260 |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition The Company recognizes revenue from providing hosting and integration services and licensing the use of its technology platform to its customers. The Company recognizes revenue when all of the following conditions are satisfied: ( 1 2 3 4 |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company uses the asset and liability method of accounting for income taxes in accordance with Accounting Standards Codification (“ASC”) 740, 740” not not |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Pronouncements In July 2017, No. 2017 11, 260 480 815 no December 15, 2018, In May 2017, No. 2017 09, 718 1 2 718, 718. The amendments are effective for fiscal years beginning after December 15, 2017, not In March 2017, No. 2017 08, 310 20 December 15, 2018. In February 2017, No. 2017 05, 610 20 610 20, 610 20, May 2014 No. 2014 09, 606 December 15, 2017, No. 2014 09, In January 2017, No. 2017 03, 250 No. 2014 09, 606 No. 2016 02, 842 No. 2016 13, 326 Between May 2014 December 2016, 606 five may December 15, 2017, not 2018. In November 2016, No. 2016 18, 230 December 15, 2017, |
Note 4 - Equipment (Tables)
Note 4 - Equipment (Tables) | 12 Months Ended |
Feb. 28, 2018 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | February 28, February 28, 2018 2017 Equipment $ 1,739 $ - Less: accumulated depreciation (145 ) - Net equipment $ 1,594 $ - |
Note 5 - Intangible Assets (Tab
Note 5 - Intangible Assets (Tables) | 12 Months Ended |
Feb. 28, 2018 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | February 28, February 28, 2018 2017 Licenses $ 200,000 $ - Less: accumulated amortization (114,583 ) - Net intangible assets $ 85,417 $ - |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | For year ended February 28, Estimated Amortization Expenses 2019 $ 85,417 |
Note 10 - Earnings Per Share (T
Note 10 - Earnings Per Share (Tables) | 12 Months Ended |
Feb. 28, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year ended February 28, 2018 Period from April 6, 2016 Inception to February 28, 2017 Numerator - basic Net Loss $ (1,751,121 ) $ (158,394 ) Numerator - diluted Net Loss $ (1,750,847 ) $ (158,394 ) Weighted average number of common shares outstanding —basic * 11,729,514 2,576,750 Weighted average number of common shares outstanding —diluted * 11,760,199 2,576,750 Loss per common share — basic $ (0.15 ) $ (0.06 ) Loss per common share —diluted $ (0.15 ) $ (0.06 |
Note 11 - Income Taxes (Tables)
Note 11 - Income Taxes (Tables) | 12 Months Ended |
Feb. 28, 2018 | |
Notes Tables | |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year ended February 28, 2018 Period from April 6, 2016 Inception to February 28, 2017 U.S. statutory tax rate 21 % 34.0 % Hong Kong profit tax rate 16.5 % 16.5 % Foreign income not registered in the Hong Kong (16.5 )% (16.5 )% Others 0.0 % 0.0 % Effective tax rate 21.0 % 34.0 % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | February 28, February 28, 2018 2017 Deferred tax asset from operating losses carry-forwards $ 367,735 $ 19,240 Valuation allowance (367,735 ) (19,240 ) Deferred tax asset, net $ - $ - |
Note 1 - Nature of Business a26
Note 1 - Nature of Business and Basis of Presentation (Details Textual) - shares | Jul. 13, 2017 | Feb. 28, 2018 |
Stock Issued During Period, Shares, New Issues | 2,836,000 | |
Cheong Chee Ming, Cheong Leong Foong and Liew Siew Chin [Member] | ||
Stock Issued During Period, Shares, New Issues | 12,000,000 | |
Consultants [Member] | ||
Stock Issued During Period, Shares, New Issues | 600,000 | 1,350,000 |
Note 2 - Summary of Principal27
Note 2 - Summary of Principal Accounting Policies (Details Textual) | 12 Months Ended |
Feb. 28, 2018 | |
Minimum [Member] | |
Finite-Lived Intangible Asset, Useful Life | 3 years |
Property, Plant and Equipment, Useful Life | 3 years |
Maximum [Member] | |
Finite-Lived Intangible Asset, Useful Life | 10 years |
Property, Plant and Equipment, Useful Life | 7 years |
Note 3 - Going Concern (Details
Note 3 - Going Concern (Details Textual) - USD ($) | 11 Months Ended | 12 Months Ended |
Feb. 28, 2017 | Feb. 28, 2018 | |
Retained Earnings (Accumulated Deficit), Ending Balance | $ (158,393) | $ (1,909,514) |
Net Income (Loss) Attributable to Parent, Total | $ (158,393) | $ (1,741,121) |
Note 4 - Equipment (Details Tex
Note 4 - Equipment (Details Textual) - USD ($) | 11 Months Ended | 12 Months Ended |
Feb. 28, 2017 | Feb. 28, 2018 | |
Depreciation, Total | $ 0 | $ 145 |
Note 4 - Equipment - Equipment
Note 4 - Equipment - Equipment (Details) - USD ($) | Feb. 28, 2018 | Feb. 28, 2017 |
Equipment | $ 1,739 | |
Less: accumulated depreciation | (145) | 0 |
Net equipment | $ 1,594 |
Note 5 - Intangible Assets (Det
Note 5 - Intangible Assets (Details Textual) - USD ($) | 11 Months Ended | 12 Months Ended |
Feb. 28, 2017 | Feb. 28, 2018 | |
Amortization of Intangible Assets, Total | $ 0 | $ 114,583 |
Finite-Lived Intangible Assets, Remaining Amortization Period | 240 days |
Note 5 - Intangible Assets - In
Note 5 - Intangible Assets - Intangible Assets (Details) - USD ($) | Feb. 28, 2018 | Feb. 28, 2017 |
Less: accumulated amortization | $ (114,583) | $ 0 |
Licensing Agreements [Member] | ||
Gross intangible assets | 200,000 | |
Less: accumulated amortization | (114,583) | |
Net intangible assets | $ 85,417 |
Note 5 - Intangible Assets - Am
Note 5 - Intangible Assets - Amortization of Intangible Assets (Details) | Feb. 28, 2018USD ($) |
2,018 | $ 85,417 |
Note 6 - Convertible Notes (Det
Note 6 - Convertible Notes (Details Textual) - USD ($) | Feb. 28, 2018 | Feb. 28, 2017 |
Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 |
Convertible Notes Payable [Member] | ||
Debt Instrument, Face Amount | $ 50,000 | |
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | |
Debt Instrument, Convertible, Conversion Price | $ 2.50 |
Note 7 - Common Stock (Details
Note 7 - Common Stock (Details Textual) | Jul. 13, 2017shares | Jun. 21, 2017shares | Sep. 30, 2017shares | Feb. 28, 2018USD ($)$ / sharesshares | Feb. 28, 2017shares |
Common Stock, Shares Authorized | 200,000,000 | 19,000,000 | 19,000,000 | ||
Stock Issued During Period, Shares, New Issues | 2,836,000 | ||||
Additional Shares to Be Issued | 150,000 | ||||
Additional Shares to Be Issued, Purchase Price | $ | $ 150,000 | ||||
Common Shares Distributed from CEO to Non-U.S. Accredited Investors | 1,900,000 | ||||
Common Shares Owned by CEO | 350,000 | ||||
Dividends, Total | $ | $ 0 | ||||
Cheong Chee Ming, Cheong Leong Foong and Liew Siew Chin [Member] | |||||
Stock Issued During Period, Shares, New Issues | 12,000,000 | ||||
Consultants [Member] | |||||
Stock Issued During Period, Shares, New Issues | 600,000 | 1,350,000 | |||
Shares Issued, Price Per Share | $ / shares | $ 0.035 | ||||
Accredited Investors [Member] | |||||
Stock Issued During Period, Shares, New Issues | 2,562,500 | ||||
Investors [Member] | Common Stock Issued at $0.50 Per Share [Member] | |||||
Stock Issued During Period, Shares, New Issues | 400,000 | ||||
Shares Issued, Price Per Share | $ / shares | $ 0.50 | ||||
Investors [Member] | Common Stock Issued at $1.00 Per Share [Member] | |||||
Stock Issued During Period, Shares, New Issues | 470,000 | ||||
Shares Issued, Price Per Share | $ / shares | $ 1 | ||||
Investors [Member] | Common Stock Issued at $1.50 Per Share [Member] | |||||
Stock Issued During Period, Shares, New Issues | 636,000 | ||||
Shares Issued, Price Per Share | $ / shares | $ 1.50 | ||||
Reverse Stock Split [Member] | |||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 4 | 4 |
Note 8 - Common Stock Subscri36
Note 8 - Common Stock Subscribed (Details Textual) - USD ($) | 11 Months Ended | 12 Months Ended |
Feb. 28, 2017 | Feb. 28, 2018 | |
Proceeds from Sale of Common Stock Subscribed | $ 150,000 |
Note 9 - Related Party Transa37
Note 9 - Related Party Transactions (Details Textual) | 11 Months Ended | 12 Months Ended |
Feb. 28, 2017USD ($) | Feb. 28, 2018USD ($)ft² | |
Office Space Sublease in Marshall, Virginia [Member] | ||
Area of Real Estate Property | ft² | 250 | |
Operating Lease, Monthly Sublease Rental | $ 350 | |
Office Space Lease [Member] | ||
Operating Leases, Rent Expense, Total | $ 1,050 | $ 1,050 |
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Two Customers [Member] | ||
Concentration Risk, Percentage | 100.00% |
Note 10 - Earnings Per Share (D
Note 10 - Earnings Per Share (Details Textual) | Jun. 21, 2017 | Feb. 28, 2018 |
Reverse Stock Split [Member] | ||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 4 | 4 |
Note 10 - Earnings Per Share -
Note 10 - Earnings Per Share - Computation of Basic and Diluted Earnings Per Common Share (Details) - USD ($) | 11 Months Ended | 12 Months Ended | |
Feb. 28, 2017 | Feb. 28, 2018 | ||
Net Loss | $ (158,393) | $ (1,741,121) | |
Weighted average number of common shares outstanding —basic * (in shares) | [1],[2] | 2,576,750 | 11,729,514 |
Weighted average number of common shares outstanding —diluted * (in shares) | [1],[2] | 2,576,750 | 11,760,199 |
Loss per common share — basic (in dollars per share) | $ (0.06) | $ (0.15) | |
Loss per common share —diluted (in dollars per share) | $ (0.06) | $ (0.15) | |
[1] | Reflects 4 for 1 reverse split | ||
[2] | Reflects 4 to 1 reverse split as of June 23, 2017 |
Note 11 - Income Taxes (Details
Note 11 - Income Taxes (Details Textual) - USD ($) | 11 Months Ended | 12 Months Ended |
Feb. 28, 2017 | Feb. 28, 2018 | |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total | $ 0 | $ 0 |
Effective Income Tax Rate Reconciliation, Percent, Total | 34.00% | 21.00% |
Effective Income Tax Rate Reconciliation, Foreign Profit Tax Rate, Percent | 16.50% | 16.50% |
Deferred Tax Assets, Gross, Total | $ 19,240 | $ 367,735 |
Deferred Tax Assets, Valuation Allowance, Total | $ 19,240 | $ 367,735 |
Domestic Tax Authority [Member] | ||
Effective Income Tax Rate Reconciliation, Percent, Total | 34.00% | 21.00% |
Foreign Tax Authority [Member] | ||
Effective Income Tax Rate Reconciliation, Percent, Total | 34.00% | 21.00% |
Note 11 - Income Taxes - Effect
Note 11 - Income Taxes - Effective Income Tax Rates (Details) | 11 Months Ended | 12 Months Ended |
Feb. 28, 2017 | Feb. 28, 2018 | |
U.S. statutory tax rate | 34.00% | 21.00% |
Hong Kong profit tax rate | 16.50% | 16.50% |
Foreign income not registered in the Hong Kong | (16.50%) | (16.50%) |
Others | 0.00% | 0.00% |
Effective tax rate | 34.00% | 21.00% |
Note 11 - Income Taxes - Deferr
Note 11 - Income Taxes - Deferred Tax Asset (Details) - USD ($) | Feb. 28, 2018 | Feb. 28, 2017 |
Deferred tax asset from operating losses carry-forwards | $ 367,735 | $ 19,240 |
Valuation allowance | (367,735) | (19,240) |
Deferred tax asset, net |