Document and Entity Information
Document and Entity Information - USD ($) | 3 Months Ended | |
Jun. 30, 2017 | Aug. 11, 2017 | |
Document And Entity Information | ||
Entity Registrant Name | Asia Training Institute, Inc. | |
Entity Central Index Key | 1,617,431 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --03-31 | |
Is Entity's Reporting Status Current? | Yes | |
Is Entity a Well-Known Seasoned Issuer? | No | |
Is Entity a Voluntary Filer? | No | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2017 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q1 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Public Float | $ 144,200 | |
Entity Common Stock, Shares Outstanding | 19,412,000 |
Balance Sheets (June 30, 2017 U
Balance Sheets (June 30, 2017 Unaudited) - USD ($) | Jun. 30, 2017 | Mar. 31, 2017 |
Current assets: | ||
Cash | $ 329 | $ 617 |
Total assets | 329 | 617 |
Current liabilities: | ||
Accrued Expenses | 4,555 | 9,555 |
Due to related party | 70,762 | 58,762 |
Total Liabilities | 75,317 | 68,317 |
Stockholders' deficit: | ||
Preferred stock, $0.001 par value; 25,000,000 shares authorized; none issued or outstanding as of June 30, 2017 and March 31, 2017 | ||
Common stock, $0.001 par value; 150,000,000 shares authorized; 19,412,000 shares issued and outstanding as of June 30, 2017 and March 31, 2017 | 19,412 | 19,412 |
Additional paid-in capital | 168,387 | 168,387 |
Accumulated deficit | (262,786) | (255,498) |
Total stockholders' deficit | (74,987) | (67,699) |
Total liabilities and stockholders' equity (deficit) | $ 329 | $ 617 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Jun. 30, 2017 | Mar. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Preferred stock, 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, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 150,000,000 | 150,000,000 |
Common stock, shares issued | 19,412,000 | 19,412,000 |
Common stock, shares outstanding | 19,412,000 | 19,412,000 |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Income Statement [Abstract] | ||
Revenue | ||
Expenses: | ||
General and administration | 7,288 | 26,583 |
Operating loss | (7,288) | (26,583) |
Net loss | $ (7,288) | $ (26,583) |
Basic and diluted loss per share | $ 0 | $ 0 |
Weighted average common shares outstanding - basic and diluted | 19,412,000 | 19,412,000 |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
CASH FLOW FROM OPERATING ACTIVITIES: | ||
Net Loss | $ (7,288) | $ (26,583) |
Change in operating assets and liabilities: | ||
Accrued Expenses | (5,000) | 3,673 |
Due to related party | 12,000 | 22,909 |
Net Cash Provided by (Used In) Operating Activities | (288) | |
Net cash used in financing activities | ||
change in cash | (288) | |
Cash, beginning of period | 617 | |
Cash, end of period | 329 | |
Cash paid for: | ||
Interest | ||
Income taxes |
Note 1 - Organization and Descr
Note 1 - Organization and Description of Business | 3 Months Ended |
Jun. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Note 1 - Organization | NOTE 1- ORGANIZATION AND DESCRIPTION OF BUSINESS Asia Training Institute, Inc., a Nevada corporation, (“ATI,” “Company,” “Registrant,” “we,” “us,” or “our”) was incorporated on May 14, 2014 under the name “WeWearables, Inc.” The Company issued 17,000,000 shares of its common stock to its founder, Thomas Chen, as consideration for the purchase of a business plan. On February 12, 2016 Mr. Chen sold all 17,000,000 shares of common stock to Chien Heng “George” Chiang. That same date, two other stockholders sold all their shares, totaling 2,000,000, to Mr. Chiang, making him the principle stockholder of the Company. On February 12, 2016, Mr. Chiang became the sole director, President, Chief Financial Officer and Secretary of the Company, and the Company’s name was subsequently changed to Asia Training Institute, Inc. The Company’s current business strategy is to investigate and, if such investigation warrants, acquire a target operating company or business seeking the perceived advantages of being a publicly held corporation. The Company’s principal business objective for the next twelve months and beyond such time will be to achieve long-term growth potential through a combination with an operating business rather than immediate, short-term earnings. The Company will not restrict its potential candidate target companies to any specific business, industry or geographical location and, thus, may acquire any type of business. . |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 3 Months Ended |
Jun. 30, 2017 | |
Accounting Policies [Abstract] | |
Note 2 - Significant Accounting Policies | NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (a) Basis of Accounting The Company’s financial statements are prepared in conformity with U.S. generally accepted accounting principles. The Company has elected March 31 as its fiscal year end. The accompanying unaudited interim financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s most recent Annual Financial Statements, found in Form 10-K filed June 29, 2017. The results of operations for the interim period are not necessarily indicative of the results to be expected for the full year. (b) Cash Equivalents For purposes of the balance sheet and statement of cash flows, the Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents. (c) Stock-Based Compensation The Company follows ASC 718-10, Stock Compensation (d) Use of Estimates and Assumptions Preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. The Company has adopted the provisions of ASC 260. (e) Loss per Share The basic loss per share is calculated by dividing the Company’s net loss available to common stockholders by the weighted average number of common shares during the year. The diluted loss per share is calculated by dividing the Company’s net loss available to common stockholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. Diluted loss per share are the same as basic earnings loss per share due to the lack of dilutive items in the Company. (f) Fair Value Measurements and Disclosures ASC Topic 820 defines fair value, establishes a framework for measuring fair value, establishes a three-level valuation hierarchy for disclosure of fair value measurement and enhances disclosure requirements for fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows: Level 1 – Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 – Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 3 – Inputs to the valuation methodology are unobservable and significant to the fair value measurement. The Company’s adoption of fair value measurements and disclosures did not have a material impact on the financial statements and financial statement disclosures (g) Income Taxes Income taxes are provided in accordance with ASC 740, Income Taxes 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. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. No provision was made for Federal or State income taxes. (h) Advertising Advertising will be expensed in the period in which it is incurred. There have been no advertising expenses for the reporting periods presented. (i) Recently Issued Accounting Pronouncements The Company reviewed all recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the AICPA, and the SEC and they did not or are not believed by management to have a material impact on the Company’s present or future financial statements. \ |
Note 3 - Going Concern
Note 3 - Going Concern | 3 Months Ended |
Jun. 30, 2017 | |
Going Concern [Abstract] | |
Note 3 - Going Concern | NOTE 3 - GOING CONCERN The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As reflected in the accompanying financial statements, the Company had a negative working capital of $74,988 and an accumulated deficit of $262,786 at June 30, 2017. As of June 30, 2017, the Company had not generated any revenue and had no committed sources of capital or financing. As of June 30, 2017 the Company had cash in the amount of $329 held in its corporate bank account. While the Company is attempting to merge with an operating business, the Company’s cash position may not be significant enough to support the Company’s daily operations. While the Company believes in the viability of its strategy to merge with an operating business and in its ability to raise additional funds, there can be no assurances to that effect. The Company’s ability to continue as a going concern is dependent upon its ability to achieve its objective or obtain adequate financing. Mr. Chiang is currently advancing the company funds to cover any expenses incurred by the Company and anticipates that he will continue to do so in order to keep the Company current with its SEC filings and other required compliance. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. |
Note 4 - Accrued Expenses
Note 4 - Accrued Expenses | 3 Months Ended |
Jun. 30, 2017 | |
Payables and Accruals [Abstract] | |
Note 4 - Accrued Expenses | NOTE 4 - ACCRUED EXPENSES Accrued expenses totaled $4,555 and $9,555 at June 30, 2017 and March 31, 2017, respectively and consisted primarily of professional fees. |
Note 5 - Stockholders' Equity (
Note 5 - Stockholders' Equity (Deficit) | 3 Months Ended |
Jun. 30, 2017 | |
Equity [Abstract] | |
Note 5 - Stockholders' equity (deficit) | NOTE 5 - STOCKHOLDERS’ EQUITY (DEFICIT) The Company is authorized to issue 150,000,000 shares of common stock and 25,000,000 shares of preferred stock. The Company issued 17,000,000 shares of its common stock to its former president and chief executive officer as founder shares. The Company issued 3,050,000 shares of its common stock for services with a value attributed to them of $20,000. In January 2015, the Company completed a public offering whereby it sold 362,000 shares of common stock at $0.10 per share for total gross proceeds of $36,200. On February 12, 2016 Mr. Chen sold all 17,000,000 of his shares of common stock to Mr. Chiang. That same date, two other stockholders sold all of their shares, totaling 2,000,000, to Mr. Chiang, making him the principle stockholder of the Company. On February 16, 2016, the Company’s transfer agent canceled 1,000,000 shares of common stock previously outstanding at the request of the previous stockholder. At June 30, 2017 there were 19,412,000 shares of common stock issued and outstanding. |
Note 6 - Related Party Transact
Note 6 - Related Party Transactions | 3 Months Ended |
Jun. 30, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Note 6 - Related Party Transactions | NOTE 6 - RELATED PARTY TRANSACTIONS For the three months ended June 30, 2017, the Company’s sole director, officer and principal stockholder, Mr. Chiang, paid Company expenses totaling $12,000 from personal funds. These expenses consisted primarily of professional fees. Mr. Chiang expects to be reimbursed by the Company for such payments, which reimbursement will be interest free and due upon demand. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Jun. 30, 2017 | |
Significant Accounting Policies Policies | |
Basis of Accounting | (a) Basis of Accounting The Company’s financial statements are prepared in conformity with U.S. generally accepted accounting principles. The Company has elected March 31 as its fiscal year end. The accompanying unaudited interim financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s most recent Annual Financial Statements, found in Form 10-K filed June 29, 2017. The results of operations for the interim period are not necessarily indicative of the results to be expected for the full year. |
Cash Equivalents | (b) Cash Equivalents For purposes of the balance sheet and statement of cash flows, the Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents. |
Stock Based Compensation | (c) Stock-Based Compensation The Company follows ASC 718-10, Stock Compensation |
Use of Estimates and Assumptions | (d) Use of Estimates and Assumptions Preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. The Company has adopted the provisions of ASC 260. |
Loss Per Share | (e) Loss per Share The basic loss per share is calculated by dividing the Company’s net loss available to common stockholders by the weighted average number of common shares during the year. The diluted loss per share is calculated by dividing the Company’s net loss available to common stockholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. Diluted loss per share are the same as basic earnings loss per share due to the lack of dilutive items in the Company. |
Fair Value Measurments and Disclosures | (f) Fair Value Measurements and Disclosures ASC Topic 820 defines fair value, establishes a framework for measuring fair value, establishes a three-level valuation hierarchy for disclosure of fair value measurement and enhances disclosure requirements for fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows: Level 1 – Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 – Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 3 – Inputs to the valuation methodology are unobservable and significant to the fair value measurement. The Company’s adoption of fair value measurements and disclosures did not have a material impact on the financial statements and financial statement disclosures. |
Income Taxes | (g) Income Taxes Income taxes are provided in accordance with ASC 740, Income Taxes 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. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. No provision was made for Federal or State income taxes. |
Advertising | (h) Advertising Advertising will be expensed in the period in which it is incurred. There have been no advertising expenses for the reporting periods presented. |
Recently Issued Accounting Pronouncements | (i) Recently Issued Accounting Pronouncements The Company reviewed all recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the AICPA, and the SEC and they did not or are not believed by management to have a material impact on the Company’s present or future financial statements. |
Going Concern (Details)
Going Concern (Details) - USD ($) | Jun. 30, 2017 | Mar. 31, 2017 |
Going concern (Textual) | ||
Accumulated deficit | $ (262,786) | $ (255,498) |