Agentix (AGTX) 10-Q 13 Jul 20 2020 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	May 31, 2020	Jul. 10, 2020
Cover [Abstract]
Entity Registrant Name	Agentix Corp.
Entity Central Index Key	0001603345
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--08-31
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	May 31, 2020
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2020
Entity Common Stock Shares Outstanding		31,738,884
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes

Balance Sheets

Balance Sheets - USD ($)	May 31, 2020	Aug. 31, 2019
Current Assets
Cash	$ 17	$ 93
Total current assets	17	93
Computer Equipment
Computer equipment	1,328	1,328
Accumulated depreciation	(1,328)	(1,328)
Computer equipment, net	0	0
Total assets	17	93
Current Liabilities
Accounts payable	15,734	7,245
Accounts payable - related party	0	5,250
Accrued expenses - related party	27,970	3,712
Convertible note payable, related party, net of unamortized discount	0	24,671
Total current liabilities	43,704	40,878
Long Term Liabilities
Convertible note payable, related-party	0	85,000
Total liabilities	43,704	125,878
Commitments and Contingencies	0	0
Stockholders' Deficit
Preferred stock par value $0.001: 25,000,000 shares authorized; no shares issued or outstanding	0	0
Common stock par value $0.001: 50,000,000 shares authorized; 3,806,613 shares issued and outstanding as of May 31, 2020 (unaudited) and 2,551,901 shares issued and outstanding as of August 31, 2019	3,807	2,552
Additional paid-in capital	45,296,340	43,904,787
Accumulated deficit	(45,343,834)	(44,033,124)
Total stockholders' deficit	(43,687)	(125,785)
Total liabilities and stockholders' deficit	$ 17	$ 93

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	May 31, 2020	Aug. 31, 2019
Stockholders' Deficit
Preferred stock, shares par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, shares par value	$ 0.001	$ 0.001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	3,806,613	2,551,901
Common stock, shares outstanding	3,806,613	2,551,901

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	May 31, 2020	May 31, 2019	May 31, 2020	May 31, 2019
Statements of Operations (Unaudited)
Revenue	$ 0	$ 0	$ 0	$ 0
Operating Expenses
Professional fees	1,287,858	8,441	1,304,609	44,943
Salary and wages - officers	0	20,000	0	60,000
General and administrative expenses	1,497	2,005	1,577	4,340
Total operating expenses	1,289,355	30,446	1,306,186	109,283
Loss from Operations	(1,289,355)	(30,446)	(1,306,186)	(109,283)
Other Expense
Interest expense, net	0	1,481	4,524	6,741
Other expense, net	0	1,481	4,524	6,741
Loss before Income Tax Provision	(1,289,355)	(31,927)	(1,310,710)	(116,024)
Income Tax Provision	0	0	0	0
Net Loss	$ (1,289,355)	$ (31,927)	$ (1,310,710)	$ (116,024)
Loss per share
- Basic and Diluted	$ (0.38)	$ (0.03)	$ (0.46)	$ (0.11)
Weighted average common shares outstanding
- Basic and Dilutedss	3,421,998	1,104,100	2,844,160	1,104,100

Statements of Changes in Stockh

Statements of Changes in Stockholders (Deficit) (Unaudited) - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]
Balance, shares at Aug. 31, 2018		2,551,901
Balance, amount at Aug. 31, 2018	$ (53,133)	$ 2,552	$ 43,844,787	$ (43,900,472)
Net loss	(45,324)	0	0	(45,324)
Contribution to capital	20,000	$ 0	20,000	0
Balance, shares at Nov. 30, 2018		2,551,901
Balance, amount at Nov. 30, 2018	(78,457)	$ 2,552	43,864,787	(43,945,796)
Balance, shares at Aug. 31, 2018		2,551,901
Balance, amount at Aug. 31, 2018	(53,133)	$ 2,552	43,844,787	(43,900,472)
Net loss	(116,024)
Balance, shares at May. 31, 2019		2,551,901
Balance, amount at May. 31, 2019	(109,157)	$ 2,552	43,904,787	(44,016,496)
Balance, shares at Nov. 30, 2018		2,551,901
Balance, amount at Nov. 30, 2018	(78,457)	$ 2,552	43,864,787	(43,945,796)
Net loss	(38,773)	0	0	(38,773)
Contribution to capital	20,000	$ 0	20,000	0
Balance, shares at Feb. 28, 2019		2,551,901
Balance, amount at Feb. 28, 2019	(97,230)	$ 2,552	43,884,787	(43,984,569)
Net loss	(31,927)	0	0	(31,927)
Contribution to capital	20,000	$ 0	20,000	0
Balance, shares at May. 31, 2019		2,551,901
Balance, amount at May. 31, 2019	(109,157)	$ 2,552	43,904,787	(44,016,496)
Balance, shares at Aug. 31, 2019		2,551,901
Balance, amount at Aug. 31, 2019	(125,785)	$ 2,552	43,904,787	(44,033,124)
Shares issued for conversion of debt, shares		4,712
Shares issued for conversion of debt, amount	117,808	$ 5	117,803	0
Net loss	(9,556)	$ 0	0	(9,556)
Balance, shares at Nov. 30, 2019		2,556,613
Balance, amount at Nov. 30, 2019	(17,533)	$ 2,557	44,022,590	(44,042,680)
Balance, shares at Aug. 31, 2019		2,551,901
Balance, amount at Aug. 31, 2019	(125,785)	$ 2,552	43,904,787	(44,033,124)
Net loss	(1,310,710)
Balance, shares at May. 31, 2020		3,806,613
Balance, amount at May. 31, 2020	(43,687)	$ 3,807	45,296,340	(45,343,834)
Balance, shares at Nov. 30, 2019		2,556,613
Balance, amount at Nov. 30, 2019	(17,533)	$ 2,557	44,022,590	(44,042,680)
Net loss	(11,799)	$ 0	0	(11,799)
Balance, shares at Feb. 29, 2020		2,556,613
Balance, amount at Feb. 29, 2020	(29,332)	$ 2,557	44,022,590	(44,054,479)
Net loss	(1,289,355)	$ 0	0	(1,289,355)
Shares issued for legal services, shares		333,000
Shares issued for legal services, amount	339,660	$ 333	339,327	0
Shares issued to director and officer, shares		917,000
Shares issued to director and officer, amount	935,340	$ 917	934,423	0
Balance, shares at May. 31, 2020		3,806,613
Balance, amount at May. 31, 2020	$ (43,687)	$ 3,807	$ 45,296,340	$ (45,343,834)

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	May 31, 2020	May 31, 2019
Cash Flows from Operating Activities
Net loss	$ (1,310,710)	$ (116,024)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense	0	140
Amortization of discount on derivative liabilities	329	2,943
Stock issued for services	1,275,000	0
Changes in operating assets and liabilities:
Accounts payable and accounts payable - related party	22,608	(7,711)
Accrued expenses	12,697	58,591
Net Cash Used in Operating Activities	(76)	(62,061)
Net Cash Used in Investing Activities	0	0
Cash Flows from Financing Activities
Proceeds from convertible notes payable, related parties	0	60,000
Net Cash Provided by Financing Activities	0	60,000
Net Change in Cash	(76)	(2,061)
Cash - beginning of reporting period	93	2,125
Cash - end of reporting period	17	64
Supplemental disclosure of cash flow information:
Interest paid	0	3,798
Income tax paid	0	0
Non Cash Financing and Investing Activities
Exercise of conversion of debt and accrued interest - related party	117,808	0
Issuance of stock split effected in the form of a dividend	2,531	0
Capital contribution related to salaries waived	$ 0	$ 60,000

Organization and Operations

Organization and Operations	9 Months Ended
	May 31, 2020
Organization and Operations
Note 1 - Organization and Operations	Agentix Corp. FairWind Energy, Inc. (the “Company”, “Fairwind Energy”) was incorporated on April 18, 2013 under the laws of the State of Nevada. The Company engages in composite design, engineering and manufacturing to be used in solar/wind hybrid power systems, oil and gas industry pumping and civil engineering and infrastructure products. Effective June 17, 2019, the Company changed its name to Agentix Corp.

Significant and Critical Accoun

Significant and Critical Accounting Policies and Practices	9 Months Ended
	May 31, 2020
Significant and Critical Accounting Policies and Practices
Note 2 - Significant and Critical Accounting Policies and Practices	The management of the Company is responsible for the selection and use of appropriate accounting policies and the appropriateness of accounting policies and their application. Critical accounting policies and practices are those that are both most important to the portrayal of the Company’s financial condition and results and require management’s most difficult, subjective, or complex judgments, often as a result of the need to make estimates about the effects of matters that are inherently uncertain. The Company’s significant and critical accounting policies and practices are disclosed below as required by generally accepted accounting principles. Basis of Presentation The accompanying financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”), and with the rules and regulations of the United States Securities and Exchange Commission (“SEC”) to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The unaudited interim financial statements furnished reflect all adjustments (consisting of normal recurring accruals) which are, in the opinion of management, necessary to a fair statement of the results for the interim periods presented. Unaudited interim results are not necessarily indicative of the results for the full fiscal year. These financial statements should be read in conjunction with the audited financial statements of the Company for the reporting period ended August 31, 2019 and notes thereto contained in the Company’s Annual Report on Form 10-K. Deferred Tax Assets and Income Tax Provision The Company accounts for income taxes under Section 740-10-30 of the FASB Accounting Standards Codification. Deferred income tax assets and liabilities are determined based upon differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statements of operations in the period that includes the enactment date. The Company adopted section 740-10-25 of the FASB Accounting Standards Codification (“Section 740-10-25”). Section 740-10-25 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under Section 740-10-25, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent (50%) likelihood of being realized upon ultimate settlement. Section 740-10-25 also provides guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods and requires increased disclosures.

Going Concern

Going Concern	9 Months Ended
	May 31, 2020
Going Concern
Note 3 - Going Concern	The Company’s financial statements have been prepared assuming that it will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business. As reflected in the financial statements, the Company had an accumulated deficit at May 31, 2020, a net loss, and net cash used in operating activities for the nine months then ended. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company is attempting to commence operations and generate sufficient revenue; however, the Company’s cash position is not sufficient to support its daily operations. While the Company believes in the viability of its strategy to commence operations and generate sufficient revenue and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon its ability to further implement its business plan and generate sufficient revenue and its ability to raise additional funds by way of a public or private offering. The financial statements do not include any adjustments related 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.

Related Party Transactions

Related Party Transactions	9 Months Ended
	May 31, 2020
Related Party Transactions
Note 4 - Related Party Transactions	Free Office Space The Company has been provided office space by Michael Winterhalter, President, Secretary, and Treasurer and a Director and former Chief Executive Officer of the Company, at no cost. Management determined that such cost is nominal and did not recognize the rent expense in its financial statement. Convertible Note Payable Effective October 9, 2019, Grays Peak Ventures LLC, an entity controlled by Scott Stevens (a former President and a Director of the Company), purchased all convertible promissory notes from Michael Winterhalter in the principal amount of $110,000 and $7,808 of accrued interest. Effective October 24, 2019, Grays Peak Ventures LLC converted all promissory notes and accrued interest for 4,712 shares of common stock. The conversion rate under the Convertible Promissory Notes was the 10-day VWAP of shares of common stock on the OTC Markets, which was $25.00 per share on the date of conversion.

Equity

Equity	9 Months Ended
	May 31, 2020
Equity
Note 5 - Equity	Stock Split Effective June 17, 2019, the Company proceeded with a reverse stock split of 1,000 for 1 share of common stock. All figures have been updated to reflect the reverse stock split. Effective December 3, 2019, the Company effected a 100-for-1 stock split effected in the form of a dividend of its shares of common stock. This stock split was recorded retroactively with a reclassification between retained earnings and common stock in the accompanying financial statements. This stock split was effective February 25, 2020. Accordingly, each holder of one share of common stock of the Company received 100 shares of common stock from the Company for such one share held. The record date with FINRA was December 3, 2019 and 2,531,331 shares were issued. The retained earnings and common stock amounts were affected by this transaction in the accompanying financial statements in the amount of $2,531. Shares Issued for Past Services On March 29, 2020, the Company issued 767,000 shares of common stock to Grays Peak Ventures LLC, a company controlled by Scott Stevens, the Company’s former sole director and officer, in exchange and as compensation for Mr. Stevens serving and performing duties as a director of the Company from June 10, 2019 to March 27, 2020. Such issuance amounted to approximately 30% of the issued and outstanding shares of common stock of the Company on the date of issuance. The shares were issued at a price of $1.02 per share for a total cost of $782,340, which represented the market price of the shares as of the date of issuance. On March 29, 2020, the Company issued 333,000 shares of common stock to Thomas Puzzo in exchange and as compensation for Mr. Puzzo providing legal services to the Company from June 10, 2019 to March 27, 2020. Such issuance amounted to approximately 13% of the issued and outstanding shares of common stock of the Company on the date of issuance. The shares were issued at a price of $1.02 per share for a total cost of $339,660, which represented the market price of the shares as of the date of issuance. On March 29, 2020, the Company issued 150,000 shares of common stock to Michael Winterhalter, the Company’s President, Secretary, and treasure and a Director of the Company, in exchange and as compensation for Mr. Winterhalter providing bookkeeping, record keeping and accounting services to the Company from June 10, 2019 to March 27, 2020. Such issuance amounted to approximately 5.8% of the issued and outstanding shares of common stock of the Company on the date of issuance. The shares were issued at a price of $1.02 per share for a total cost of $153,000, which represented the market price of the shares as of the date of issuance. The Company issued the above shares of common stock in reliance upon the exemption from the registration provided by Section 4(a)(2) of the Securities Act, as a sale by an issuer not involving any public offering, to a sophisticated purchaser who had access to registration-type information about the issuer.

Subsequent Events

Subsequent Events	9 Months Ended
	May 31, 2020
Subsequent Events
Note 6 - Subsequent Events	On May 28, 2020, the Company, entered into a Share Exchange Agreement (the “Share Exchange Agreement”), by and among the Company, and GSL Healthcare, Inc., a Nevada corporation (“GSL Healthcare”), and the holders of common stock of GSL Healthcare, which consisted of two stockholders. The closing date occurred on June 1, 2020. Under the terms and conditions of the Share Exchange Agreement, the Company offered and sold 27,932,271 shares of common stock of the Company in consideration for all of the issued and outstanding shares of common stock of GSL Healthcare. The effect of the issuance is that former two GSL Healthcare shareholders now hold approximately 88.0% of the issued shares of common stock of the Company, and GSL Healthcare is now a wholly-owned subsidiary of the Company. GSL Healthcare has a general plan to be a health and wellness business. Until such time as the Company can formulate GSL Healthcare’s general business plan, the Company is not changing its current business. In accordance with ASC 855, the Company has analyzed its operations subsequent to March 31, 2020 through the date these financial statements were issued, and has determined that it does not have any other material subsequent events to disclose in these financial statements.

Significant and Critical Acco_2

Significant and Critical Accounting Policies and Practices (Policies)	9 Months Ended
	May 31, 2020
Significant and Critical Accounting Policies and Practices
Basis of Presentation	The accompanying financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”), and with the rules and regulations of the United States Securities and Exchange Commission (“SEC”) to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The unaudited interim financial statements furnished reflect all adjustments (consisting of normal recurring accruals) which are, in the opinion of management, necessary to a fair statement of the results for the interim periods presented. Unaudited interim results are not necessarily indicative of the results for the full fiscal year. These financial statements should be read in conjunction with the audited financial statements of the Company for the reporting period ended August 31, 2019 and notes thereto contained in the Company’s Annual Report on Form 10-K.
Deferred Tax Assets and Income Tax Provision	The Company accounts for income taxes under Section 740-10-30 of the FASB Accounting Standards Codification. Deferred income tax assets and liabilities are determined based upon differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statements of operations in the period that includes the enactment date. The Company adopted section 740-10-25 of the FASB Accounting Standards Codification (“Section 740-10-25”). Section 740-10-25 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under Section 740-10-25, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent (50%) likelihood of being realized upon ultimate settlement. Section 740-10-25 also provides guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods and requires increased disclosures.

Organization and Operations (De

Organization and Operations (Details Narrative)	9 Months Ended
	May 31, 2020
Organization and Operations
State of incorporation	State of Nevada
Date of incorporation	Apr. 18, 2013

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended
	Oct. 09, 2019	Nov. 30, 2019	May 31, 2020	Oct. 24, 2019	Aug. 31, 2019
Convertible promissory note		$ 117,808
Common stock, shares issued			3,806,613		2,551,901
Grays Peak Ventures LLC [Member]
Convertible promissory note	$ 110,000
Common stock, shares issued				4,712
Accrued interest	$ 7,808			$ 0
Conversion price				$ 25

Equity (Details Narrative)

Equity (Details Narrative) - USD ($)	1 Months Ended			3 Months Ended
	Mar. 29, 2020	Feb. 25, 2020	Jun. 17, 2019	May 31, 2020	Dec. 03, 2019
Reverse stock split		100-for-1 stock split	1,000 for 1 share of common stock
Common stock issued					2,531,331
Retained earning					$ 2,531
Common stock shares issued for legal services, amount				$ 339,660
Grays Peak Ventures LLC [Member]
Shares issued price per shares	$ 1.02
Shares issued, percentage	30.00%
Common stock shares issued for compensation, shares	767,000
Common stock shares issued for compensation, amount	$ 782,340
Thomas Puzzo [Member]
Shares issued price per shares	$ 1.02
Shares issued, percentage	13.00%
Common stock shares issued for legal services, shares	333,000
Common stock shares issued for legal services, amount	$ 339,660
Mike Winterhalter [Member]
Shares issued price per shares	$ 1.02
Shares issued, percentage	5.80%
Common stock shares issued for legal services, shares	150,000
Common stock shares issued for legal services, amount	$ 153,000

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - Subsequent Event [Member] - Share Exchange Agreement [Member] - GSL Healthcare and Two Stockholders [Member]	1 Months Ended
	May 28, 2020shares
Equity method investment, shares issued	27,932,271
Ownership percentage of stockholders in GSL	88.00%