Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Mar. 31, 2015 | Jul. 08, 2015 | Sep. 30, 2014 | |
Document And Entity Information [Abstract] | |||
Entity Registrant Name | America Resources Exploration Inc. | ||
Entity Central Index Key | 1,609,258 | ||
Trading Symbol | aren | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Current Fiscal Year End Date | --03-31 | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Common Stock, Shares Outstanding | 129,400,000 | ||
Entity Public Float | $ 0 | ||
Document Type | 10-K | ||
Document Period End Date | Mar. 31, 2015 | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY |
BALANCE SHEETS
BALANCE SHEETS - USD ($) | Mar. 31, 2015 | Mar. 31, 2014 |
Current assets | ||
Cash and cash equivalents | $ 5,971 | $ 178 |
Total current assets | $ 5,971 | 178 |
Fixed assets | ||
Equipment | 8,565 | |
Total fixed assets | 8,565 | |
Total assets | $ 5,971 | 8,743 |
Current liabilities | ||
Accounts payable | 400 | |
Loan from director | 2,800 | |
Accrued expenses | 5,600 | |
Total liabilities | $ 6,000 | $ 2,800 |
Commitments and contingencies | ||
Stockholders' (deficit) equity | ||
Common stock, par value $0.001; 300,000,000 shares authorized, 125,400,000 and 90,000,000 shares issued and outstanding as of March 31, 2015 and 2014 (1) | $ 8,360 | $ 6,000 |
Additional paid in capital | 21,159 | |
Retained deficit | (29,548) | (57) |
Total stockholders' (deficit) equity | (29) | 5,943 |
Total liabilities and stockholders' (deficit) equity | $ 5,971 | $ 8,743 |
BALANCE SHEETS (Parentheticals)
BALANCE SHEETS (Parentheticals) - $ / shares | 2 Months Ended | 12 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2015 | ||
Statement of Financial Position [Abstract] | |||
Common stock, par value (in dollars per share) | [1] | $ 0.001 | $ 0.001 |
Common stock, shares authorized | [1] | 300,000,000 | 300,000,000 |
Common stock, shares issued | [1] | 90,000,000 | 125,400,000 |
Common stock, shares outstanding | [1] | 90,000,000 | 125,400,000 |
Common stock split ratio | 15-for-1 | 15-for-1 | |
[1] | All common share amounts and per share amounts in these financial statements reflect the 15-for-1 split of the issued and outstanding shares of common stock of the Company, effective April 29, 2015, including retroactive adjustment of common share amounts. See Note 7. |
STATEMENTS OF OPERATIONS
STATEMENTS OF OPERATIONS - USD ($) None in scaling factor is -9223372036854775296 | 2 Months Ended | 12 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2015 | ||
Income Statement [Abstract] | |||
Revenues | |||
Operating expenses | |||
General and Administrative Expenses | $ 57 | $ 29,976 | |
Total operating expenses | 57 | 29,976 | |
Net loss from operations | $ (57) | (29,976) | |
Other income (expense) | |||
Gain on debt extinguishment | 9,050 | ||
Loss on disposal of equipment | (8,565) | ||
Total other income | 485 | ||
Net loss | $ (57) | $ (29,491) | |
Net loss per share - basic and diluted (in dollars per share) | |||
Weighted average number of shares outstanding - basic and diluted (1) (in shares) | [1] | 90,000,000 | 109,950,000 |
[1] | All common share amounts and per share amounts in these financial statements reflect the 15-for-1 split of the issued and outstanding shares of common stock of the Company, effective April 29, 2015, including retroactive adjustment of common share amounts. See Note 7. |
STATEMENTS OF OPERATIONS (Paren
STATEMENTS OF OPERATIONS (Parentheticals) | 2 Months Ended | 12 Months Ended |
Mar. 31, 2014 | Mar. 31, 2015 | |
Income Statement [Abstract] | ||
Common stock split ratio | 15-for-1 | 15-for-1 |
STATEMENTS OF CHANGES IN STOCKH
STATEMENTS OF CHANGES IN STOCKHOLDERS' (DEFICIT) EQUITY - USD ($) | Common Stock | Additional Paid-in Capital | Retained Deficit | Total | ||
Balance at Jan. 24, 2014 | ||||||
Balance (in shares) at Jan. 24, 2014 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Shares issued for cash | $ 6,000 | $ 6,000 | ||||
Shares issued for cash (in shares) | 90,000,000 | [1] | 90,000,000 | |||
Net loss | $ (57) | $ (57) | ||||
Balance at Mar. 31, 2014 | $ 6,000 | (57) | $ 5,943 | |||
Balance (in shares) at Mar. 31, 2014 | [1] | 90,000,000 | 90,000,000 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Shares issued for cash | $ 2,360 | $ 21,159 | $ 23,519 | |||
Shares issued for cash (in shares) | 35,400,000 | [1] | 35,400,000 | |||
Net loss | (29,491) | $ (29,491) | ||||
Balance at Mar. 31, 2015 | $ 8,360 | $ 21,159 | $ (29,548) | $ (29) | ||
Balance (in shares) at Mar. 31, 2015 | [1] | 125,400,000 | 125,400,000 | |||
[1] | All common share amounts and per share amounts in these financial statements reflect the 15-for-1 split of the issued and outstanding shares of common stock of the Company, effective April 29, 2015, including retroactive adjustment of common share amounts. See Note 7. |
STATEMENTS OF CHANGES IN STOCK7
STATEMENTS OF CHANGES IN STOCKHOLDERS' (DEFICIT) EQUITY (Parentheticals) | 2 Months Ended | 12 Months Ended |
Mar. 31, 2014 | Mar. 31, 2015 | |
Statement of Stockholders' Equity [Abstract] | ||
Common stock split ratio | 15-for-1 | 15-for-1 |
STATEMENTS OF CASH FLOWS
STATEMENTS OF CASH FLOWS - USD ($) | 2 Months Ended | 12 Months Ended |
Mar. 31, 2014 | Mar. 31, 2015 | |
Cash flows from operating activities | ||
Net loss | $ (57) | $ (29,491) |
Adjustments to reconcile net loss to net cash from operating activities: | ||
Gain on debt extinguishment | (9,050) | |
Loss on disposal of asset | 8,565 | |
Change in operating assets and liabilities: | ||
Accounts payable | 400 | |
Accrued interest payable | 5,600 | |
Net cash from operating activities | (57) | $ (23,976) |
Cash flows from investing activities | ||
Purchase of equipment | (8,565) | |
Net cash from investing activities | (8,565) | |
Cash flows from financing activities | ||
Proceeds from loan from director | 2,800 | $ 6,250 |
Proceeds from Sale of common stock | 6,000 | 23,519 |
Net cash from financing activities | 8,800 | 29,769 |
Net change in cash and cash equivalents | 178 | 5,793 |
Cash and cash equivalents | ||
Beginning of period | 178 | |
End of period | $ 178 | $ 5,971 |
ORGANIZATION AND NATURE OF BUSI
ORGANIZATION AND NATURE OF BUSINESS | 12 Months Ended |
Mar. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
ORGANIZATION AND NATURE OF BUSINESS | NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS America Resources Exploration Inc. (the “Company”), was incorporated in the State of Nevada on January 24, 2014. The Company was incorporated under the name Alazzio Entertainment Corp. and changed its name to America Resources Exploration Inc. on April 17, 2015. Alazzio Entertainment Corp. was a photo booth rental business, which the Company has exited. On June 12, 2015, the Company completed an acquisition of working interests in certain oil & gas properties as discussed in Note 8. Going Concern |
SUMMARY OF SIGNIFCANT ACCOUNTIN
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES | 12 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES | NOTE 2 – SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES Basis of Presentation Use of Estimates Cash and Cash Equivalents – The Company considers all highly liquid instruments with the original maturities of three months or less to be cash equivalents. Income Taxes – Uncertain tax positions are recognized in the financial statements only if that position is more likely than not of being sustained upon examination by taxing authorities, based on the technical merits of the position. The Company recognizes interest and penalties related to uncertain tax positions in income tax expense. The Company is required to file federal income tax returns in the United States and in various state and local jurisdictions. The Company's tax returns filed since inception are subject to examination by taxing authorities in the jurisdictions in which it operates in accordance with the normal statutes of limitations in the applicable jurisdiction. Revenue Recognition Earnings (Loss) Per Share Recent Accounting Pronouncements |
DISPOSAL OF ASSET
DISPOSAL OF ASSET | 12 Months Ended |
Mar. 31, 2015 | |
Discontinued Operations and Disposal Groups [Abstract] | |
DISPOSAL OF ASSET | NOTE 3 – DISPOSAL OF ASSET In March 2014, the Company purchased a photo booth which was never placed in service. At March 31, 2015, the Company disposed of the asset upon the exit of that line of business. |
LOAN FROM DIRECTOR
LOAN FROM DIRECTOR | 12 Months Ended |
Mar. 31, 2015 | |
Related Party Transactions [Abstract] | |
LOAN FROM DIRECTOR | NOTE 4 – LOAN FROM DIRECTOR The Director of the Company made loans to the Company which were unsecured, non-interest bearing and due on demand. As of March 31, 2014, the balance due on demand to the Director was $2,800. During the year ended March 31, 2015, the Director made additional loans of $6,250 due on demand. As of March 31, 2015, the total loan balance was forgiven by the Director in connection with the exit of the photo booth line of business. A gain on debt extinguishment was recorded for $9,050, which is reported in the other income in the statements of operations. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Mar. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 5 – COMMITMENTS AND CONTINGENCIES The Company neither owns nor leases any real or personal property. An officer has provided office services without charge. There is no obligation for the officer to continue this arrangement. Such costs are immaterial to the financial statements and accordingly are not reflected herein. The officers and directors are involved in other business activities and most likely will become involved in other business activities in the future. |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Mar. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | NOTE 6 – INCOME TAXES As of March 31, 2015 and 2014, based on the results of the Company’s operations there were no provision for income taxes. As of March 31, 2015 and 2014, the Company had net operating loss carryforward of approximately $29,548 and $57, respectively, of net operating loss carryforwards available to offset future federal income taxes expiring beginning in 2034. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards. It is noted that when a change in ownership occurs the net operating loss carryforwards may be limited as to the use in the future years. At March 31, 2015 and 2014 a reconciliation of income tax (expense) benefit at the statutory rate to the Company’s actual income tax expense is shown below: 2015 2014 Computed at the statutory rate (34%) $ (10,006 ) $ (19 ) Increase resulting from: Changes in the deferred tax asset valuation allowance 10,006 19 ACTUAL TAX (EXPENSE) BENEFIT $ - $ - |
COMMON STOCK
COMMON STOCK | 12 Months Ended |
Mar. 31, 2015 | |
Stockholders' Equity Note [Abstract] | |
COMMON STOCK | NOTE 7 – COMMON STOCK On April 16, 2015, the Company filed a Certificate of Amendment with the Nevada Secretary of State whereby it amended its Articles of Incorporation by increasing the Company's authorized number of shares of common stock from 75 million to 300 million and increasing all of its issued and outstanding shares of common stock at a ratio of fifteen (15) shares for every one (1) share held. All share amounts in these financial statements have been adjusted to reflect this stock split. During the fiscal year ended March, 31, 2014, Company issued 90,000,000 shares (split adjusted) of common stock to a Director for cash proceeds of $6,000 at $0.001 per share. During the fiscal year ended March 31, 2015, the Company issued 35,400,000 shares (split adjusted) of common stock for cash proceeds of $23,519 at $0.01 per share. There were 125,400,000 shares (split adjusted) of common stock issued and outstanding as of March 31, 2015. There were 90,000,000 shares (split adjusted) of common stock issued and outstanding as of March 31, 2014. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Mar. 31, 2015 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 8 – SUBSEQUENT EVENTS The Company has evaluated all events that occurred after the balance sheet date through the date when the financial statements were issued to determine if they must be reported. Management determined that the following were reportable subsequent events. On April 3, 2015, a change in control of Alazzio Entertainment Corp. (the "Company") occurred by virtue of the Company's largest shareholder, Dmitri Kapsumun selling 90,000,000 shares (split adjusted) of the Company's common stock to Rise Fast Limited, a Hong Kong corporation. Such shares represent 71.77% of the Company's total issued and outstanding shares of common stock. As part of the sale of the shares, Rise Fast Limited arranged with the resigning member of the Company's Board of Directors, to appoint Mr. Huang Yu as the sole officer and director of the Company. On April 17, 2015, the Company changed its corporate name from Alazzio Entertainment Corp to America Resources Exploration Inc. The Company’s stock symbol was changed to “AREN” as of April 20, 2015. On June 10, 2015, Company entered into an Asset Purchase Agreement (the “Asset Purchase Agreement”) with Zheng Xiangwu, a resident of Guang Dong Province, China, whereby the Company issued 4,000,000 shares of its common stock in exchange for rights to certain oil and gas leases located in Frio and Atascosa Counties, Texas, consisting of a total of 714 total acres of land, two (2) working wells and a total of seven (7) wells (the “Leases”). On June 12, 2015, the Company completed the acquisition of the Leases pursuant to the Asset Purchase Agreement. As a result of the completion of this acquisition, 4 million shares of the Company’s common stock were issued to Mr. Zheng Xiangwu, which owns the Company’s largest shareholder, Rise Fast Limited. The number of shares issued to Mr. Zheng was determined by valuing the Leases at $160,000 and valuing the Company’s stock at $0.04 per share. Mr. Zheng is the owner of Rise Fast Limited, a Hong Kong corporation (“Rise Fast”), which is the majority shareholder of the Company. Rise Fast owns 90,000,000 shares of the Company’s common stock. As a result of this transaction, Mr. Zheng controls a total of 94,000,000 shares, which represents 72.64% of the Company’s issued and outstanding shares. In addition to a change in control of its management and shareholders and entering into the Asset Purchase Agreement, the Company's operations prior to entering into the Asset Purchase Agreement were limited to attempting to implement its business plan, issuing shares and filing a registration statement on Form S-1 pursuant to the Securities Act of 1934. In connection with the completion of the acquisition of the Leases pursuant to the Asset Purchase Agreement, the Company has elected to enter into the oil and gas industry. The Company’s primary objective is to enter the oil and gas industry by acquiring active oil and gas fields. This first step will allow the Company to enter the market in the U.S. and create immediate cash flow from producing wells. The Company intends to take advantage of currently depressed energy prices by taking over fields from companies that are unable to service their excessive debt due to falling oil prices. In order to assist the Company’s entry into the oil and gas industry, the Company has added to two (2) members to its Board of Directors that provide, collectively, over sixty (60) years of experience in the exploration, development and production of oil and gas properties. |
SUMMARY OF SIGNIFCANT ACCOUNT17
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation |
Use of Estimates | Use of Estimates |
Cash and Cash Equivalents | Cash and Cash Equivalents – The Company considers all highly liquid instruments with the original maturities of three months or less to be cash equivalents. |
Income Taxes | Income Taxes – Uncertain tax positions are recognized in the financial statements only if that position is more likely than not of being sustained upon examination by taxing authorities, based on the technical merits of the position. The Company recognizes interest and penalties related to uncertain tax positions in income tax expense. The Company is required to file federal income tax returns in the United States and in various state and local jurisdictions. The Company's tax returns filed since inception are subject to examination by taxing authorities in the jurisdictions in which it operates in accordance with the normal statutes of limitations in the applicable jurisdiction. |
Revenue Recognition | Revenue Recognition |
Earnings (Loss) Per Share | Earnings (Loss) Per Share |
Recent Accounting Pronouncements | Recent Accounting Pronouncements |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Mar. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Summary of reconciliation of income tax (expense) benefit | 2015 2014 Computed at the statutory rate (34%) $ (10,006 ) $ (19 ) Increase resulting from: Changes in the deferred tax asset valuation allowance 10,006 19 ACTUAL TAX (EXPENSE) BENEFIT $ - $ - |
LOAN FROM DIRECTOR (Detail Text
LOAN FROM DIRECTOR (Detail Textuals) - USD ($) | 2 Months Ended | 12 Months Ended |
Mar. 31, 2014 | Mar. 31, 2015 | |
Related Party Transactions [Abstract] | ||
Loan from director | $ 2,800 | |
Additional loans from director | $ 2,800 | $ 6,250 |
Gain on debt extinguishment | $ 9,050 |
INCOME TAXES - Summary income t
INCOME TAXES - Summary income tax (expense) benefit (Details) - USD ($) | 2 Months Ended | 12 Months Ended |
Mar. 31, 2014 | Mar. 31, 2015 | |
Income Tax Disclosure [Abstract] | ||
Computed at the statutory rate (34%) | $ (19) | $ (10,006) |
Increase resulting from: | ||
Changes in the deferred tax asset valuation allowance | $ 19 | $ 10,006 |
ACTUAL TAX (EXPENSE) BENEFIT |
INCOME TAXES (Details) - Summar
INCOME TAXES (Details) - Summary income tax (expense) benefit (Parentheticals) | 2 Months Ended | 12 Months Ended |
Mar. 31, 2014 | Mar. 31, 2015 | |
Income Tax Disclosure [Abstract] | ||
Computed statutory rate | 34.00% | 34.00% |
INCOME TAXES (Detail Textuals)
INCOME TAXES (Detail Textuals) - USD ($) | Mar. 31, 2015 | Mar. 31, 2014 |
Income Tax Disclosure [Abstract] | ||
Net operating loss carryforwards | $ 29,548 | $ 57 |
COMMON STOCK (Detail Textuals)
COMMON STOCK (Detail Textuals) - USD ($) | 2 Months Ended | 12 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2015 | ||
Stockholders' Equity Note [Abstract] | |||
Prior amendment on common stock share authorized | 75,000,000 | ||
Common stock, shares authorized | [1] | 300,000,000 | 300,000,000 |
Common stock split ratio | 15-for-1 | 15-for-1 | |
Shares issued for cash | 90,000,000 | 35,400,000 | |
Amount of shares issued for cash | $ 6,000 | $ 23,519 | |
Share price per share | $ 0.001 | $ 0.01 | |
Common stock, shares issued | [1] | 90,000,000 | 125,400,000 |
Common stock, shares outstanding | [1] | 90,000,000 | 125,400,000 |
[1] | All common share amounts and per share amounts in these financial statements reflect the 15-for-1 split of the issued and outstanding shares of common stock of the Company, effective April 29, 2015, including retroactive adjustment of common share amounts. See Note 7. |
SUBSEQUENT EVENTS (Detail Textu
SUBSEQUENT EVENTS (Detail Textuals) - USD ($) | Jun. 10, 2015 | Apr. 03, 2015 | Jun. 12, 2015 | Mar. 31, 2015 | Mar. 31, 2014 |
Subsequent Event [Line Items] | |||||
Share price per share | $ 0.01 | $ 0.001 | |||
Subsequent Event | |||||
Subsequent Event [Line Items] | |||||
Number of shares sold by Dmitri Kapsumun | 90,000,000 | ||||
Percentage of shares sold by Dmitri Kapsumun | 71.77% | ||||
Subsequent Event | Asset Purchase Agreement | |||||
Subsequent Event [Line Items] | |||||
Number of shares issued | 4,000,000 | ||||
Value of shares issued | $ 160,000 | ||||
Share price per share | $ 0.04 | ||||
Subsequent Event | Mr. Zheng | |||||
Subsequent Event [Line Items] | |||||
Number of shares owned | 90,000,000 | ||||
Total shares owned | 94,000,000 | ||||
Percentage of equity stock ownership | 72.64% |