DNA Testing Centers (DNAT) 10-Q 9 Jul 19 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Jun. 04, 2019
Document And Entity Information
Entity Registrant Name	DNA Testing Centers Corp
Entity Central Index Key	0001620070
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		21,496,404
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2017

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Current Assets
Cash	$ 81,940	$ 3,778
Accounts receivable	1,314	2,410
Total current assets	83,254	6,188
Property and equipment (Note 3)	3,602	3,820
Total Assets	86,856	10,008
Current Liabilities
Accounts payable and accrued liabilities	21,495	30,675
Due to related parties (Note 4)	118,515	88,866
Total Liabilities	140,010	119,541
Stockholder's Deficit
Preferred stock, $0.0001 par value, 10,000,000 shares authorized, nil shares issued and outstanding
Common stock, 1,000,000,000 shares authorized, $0.0001 par value 21,496,404 shares issued and outstanding	2,149	2,149
Additional paid-in capital	221,318	221,318
Share subscriptions received (Note 5)	100,000
Accumulated other comprehensive loss	(21,638)	(9,718)
Deficit	(354,983)	(323,282)
Total Stockholder's Deficit	(53,154)	(109,533)
Total Liabilities and Stockholder's Deficit	$ 86,856	$ 10,008

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	21,496,404	21,496,404
Common stock, shares outstanding	21,496,404	21,496,404

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Revenue	$ 11,591	$ 11,503	$ 44,067	$ 20,854
Direct costs	9,216	2,146	15,859	8,438
Gross Profit	2,375	9,357	28,208	12,416
Expenses
Advertising and promotion	2,610	1,729	4,122	5,578
Depreciation	244	147	476	356
Bad debts	1,520		4,207
Consulting fees	627	10,481	778	81,501
Office and miscellaneous	7,069	1,032	11,954	7,558
Professional fees	16,140	519	20,807	14,299
Rent (Note 4)	2,694	38	7,190	2,295
Salaries	212		10,375
Total Expenses	31,116	13,946	59,909	111,587
Net Loss for the Period	(28,741)	(4,589)	(31,701)	(99,171)
Other Comprehensive Loss
Foreign currency translation income (loss)	(9,431)	792	(11,920)	(1,438)
Comprehensive Loss for the Period	$ (38,172)	$ (3,797)	$ (43,621)	$ (100,609)
Loss Per Share, Basic and Diluted
Weighted Average Shares Outstanding	21,496,404	21,496,404	21,496,404	21,283,583

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Operating Activities
Net loss	$ (28,741)	$ (4,589)	$ (31,701)	$ (99,171)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	244	147	476	356
Bad debts expense	1,520		4,207
Stock-based compensation				52,500
Changes in operating assets and liabilities:
Accounts receivable			(5,900)	(594)
Other receivable				(4,477)
Accounts payable and accrued liabilities			(9,180)	197
Due to related parties			6,885
Net Cash Used In Operating Activities			(32,424)	(51,189)
Financing Activities
Proceeds from related parties			15,746	55,404
Proceeds from share subscriptions received			100,000
Net Cash Provided By Financing Activities			115,746	55,404
Effect of foreign exchange rate changes on cash			(5,160)	(1,388)
Change in Cash			78,162	2,827
Cash, Beginning of Period			3,778	207
Cash, End of Period	$ 81,940	$ 3,034	81,940	3,034
Supplemental Disclosures:
Interest paid
Income taxes paid

Nature of Operations and Contin

Nature of Operations and Continuance of Business	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Continuance of Business	1. Nature of Operations and Continuance of Business DNA Testing Centers, Corp. (the “Company”) was incorporated in Florida on July 3, 2014. On July 3, 2014, the Company acquired DNA Testing Centers of Canada Ltd. (“DNA Canada”). DNA Canada performs testing related to analyzing and monitoring an individual’s genetic makeup. The acquisition was treated consolidated as an entity under common control. The accompanying condensed consolidated financial statements of the Company should be read in conjunction with the consolidated financial statements and accompanying notes filed with the U.S. Securities and Exchange Commission in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016. In the opinion of management, the accompanying condensed consolidated financial statements reflect all adjustments of a recurring nature considered necessary to present fairly the Company’s financial position and the results of its operations and its cash flows for the periods shown. The preparation of these condensed consolidated financial statements in accordance with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported. Actual results could differ materially from those estimates. The results of operations and cash flows for the periods shown are not necessarily indicative of the results to be expected for the full year. These condensed consolidated financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary equity financing to continue operations, and the attainment of profitable operations. As at September 30, 2017, the Company has an accumulated deficit of $354,983, a working capital deficit of $56,756, and realized negative cash flows from operations totaling $32,424 for the period ended September 30, 2017. The Company currently has limited liquidity, and has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These condensed consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Significant Accounting Policies	2. Significant Accounting Policies (a) Basis of Presentation These condensed consolidated financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States and are expressed in U.S. dollars. These condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, DNA Canada. All inter-company accounts and transactions have been eliminated on consolidation. (b) Comprehensive Loss Comprehensive loss consists of net loss and other related gains and losses affecting stockholders’ equity that are excluded from net income or loss. As at September 30, 2017 and 2016, comprehensive loss includes cumulative translation adjustments for changes in foreign currency exchange rates during the period. (c) Reclassifications Certain of the prior year figures were reclassified to conform to the current year’s presentation. (d) Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect and that may impact its consolidated financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

Property and Equipment

Property and Equipment	9 Months Ended
	Sep. 30, 2017
Property, Plant and Equipment [Abstract]
Property and Equipment	3. Property and Equipment Cost $ Accumulated depreciation $ Foreign currency translation loss $ Net carrying Value September 30, 2017 $ Net carrying Value December 31, 2016 Medical equipment 5,440 1,048 790 3,602 3,820

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2017
Related Party Transactions [Abstract]
Related Party Transactions	4. Related Party Transactions (a) As at September 30, 2017, the Company owed $1,558 (December 31, 2016 – $1,558) and $6,315 (Cdn$7,900) (December 31, 2016 - $nil) to the Chief Executive Officer of the Company which is non-interest bearing, unsecured, and due on demand. (b) As at September 30, 2017, the Company owed $1,558 (December 31, 2016 – $1,558) and $83,259 (Cdn$104,149) (December 31, 2016 – $68,708 (Cdn$92,249)) to the Chief Financial Officer of the Company which are non-interest bearing, unsecured, and due on demand. (c) As at September 30, 2017, the Company owed $1,558 (December 31, 2016 – $1,558) to a director of the Company which is non-interest bearing, unsecured, and due on demand. (d) As at September 30, 2017, the Company owed $14,390 (Cdn$18,000) (December 31, 2016 – $6,704 (Cdn$9,000)) to a director of the Company which is non-interest bearing, unsecured, and due on demand. (e) As at September 30, 2017, the Company owed $5,800 (December 31, 2016 – $5,800) and $879 (Cdn$1,100) (2016 - $nil) to the spouse of a director of the Company which is non-interest bearing, unsecured, and due on demand. (f) As at September 30, 2017, the Company owed $3,198 (Cdn$4,000) (December 31, 2016 - $2,980 (Cdn$4,000)) to the spouse of a director of the Company which is non-interest bearing, unsecured, and due on demand. (g) During the nine months ended September 30, 2017, the Company incurred $7,190 (2016 - $2,295) in rent to a director of the Company.

Common Stock

Common Stock	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Common Stock	5. Common Stock On July 24, 2017, the Company received proceeds of $100,000 for 1,000,000 common shares at a price of $0.10 per common share to be issued.

Subsequent Event

Subsequent Event	9 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
Subsequent Event	6. Subsequent Event On January 29, 2018, the Company paid a shareholder of the Company a return of capital of $15,000.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Basis of Presentation	(a) Basis of Presentation These condensed consolidated financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States and are expressed in U.S. dollars. These condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, DNA Canada. All inter-company accounts and transactions have been eliminated on consolidation.
Comprehensive Loss	(b) Comprehensive Loss Comprehensive loss consists of net loss and other related gains and losses affecting stockholders’ equity that are excluded from net income or loss. As at September 30, 2017 and 2016, comprehensive loss includes cumulative translation adjustments for changes in foreign currency exchange rates during the period.
Reclassifications	(c) Reclassifications Certain of the prior year figures were reclassified to conform to the current year’s presentation.
Recent Accounting Pronouncements	(d) Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect and that may impact its consolidated financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Sep. 30, 2017
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Cost $ Accumulated depreciation $ Foreign currency translation loss $ Net carrying Value September 30, 2017 $ Net carrying Value December 31, 2016 Medical equipment 5,440 1,048 790 3,602 3,820

Nature of Operations and Cont_2

Nature of Operations and Continuance of Business (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ (354,983)		$ (323,282)
Working capital deficit	56,756
Cash flows from operation, total	$ (32,424)	$ (51,189)

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Property and equipment, Net carrying value	$ 3,602	$ 3,820
Medical Equipment [Member]
Property and equipment, Cost	5,440
Property and equipment, Accumulated depreciation	1,048
Property and equipment, Foreign currency translation loss	790
Property and equipment, Net carrying value	$ 3,602	$ 3,820

Related Party Transactions (Det

Related Party Transactions (Details Narrative)	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017CAD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2016CAD ($)
Due to related parties, current	$ 118,515		$ 118,515			$ 88,866
Rent	2,694	$ 38	7,190	$ 2,295
Chief Executive Officer [Member] | First Due [Member]
Due to related parties, current	1,558		1,558			1,558
Chief Executive Officer [Member] | Second Due [Member]
Due to related parties, current	6,315		6,315
Chief Executive Officer [Member] | Second Due [Member] | CAD [Member]
Due to related parties, current					$ 7,900
Chief Financial Officer [Member] | First Due [Member]
Due to related parties, current	1,558		1,558			1,558
Chief Financial Officer [Member] | Second Due [Member]
Due to related parties, current	83,259		83,259			68,708
Chief Financial Officer [Member] | Second Due [Member] | CAD [Member]
Due to related parties, current					104,149		$ 92,249
Director [Member]
Rent			7,190	$ 2,295
Director [Member] | First Due [Member]
Due to related parties, current	1,558		1,558			1,558
Director [Member] | Second Due [Member]
Due to related parties, current	14,390		14,390			6,704
Director [Member] | Second Due [Member] | CAD [Member]
Due to related parties, current					18,000		9,000
Director Spouse [Member] | First Due [Member]
Due to related parties, current	5,800		5,800			5,800
Director Spouse [Member] | Second Due [Member]
Due to related parties, current	879		879
Director Spouse [Member] | Second Due [Member] | CAD [Member]
Due to related parties, current					1,100
Director Spouse [Member] | Third Due [Member]
Due to related parties, current	$ 3,198		$ 3,198			$ 2,980
Director Spouse [Member] | Third Due [Member] | CAD [Member]
Due to related parties, current					$ 4,000		$ 4,000

Common Stock (Details Narrative

Common Stock (Details Narrative) - Common Stock [Member]	Jul. 24, 2017USD ($)$ / sharesshares
Received proceeds | $	$ 100,000
Number of shares to be issued | shares	1,000,000
Share price | $ / shares	$ 0.10

Subsequent Event (Details Narra

Subsequent Event (Details Narrative)	Jan. 29, 2018USD ($)
Subsequent Event [Member]
Amount paid to shareholder of company return of capital	$ 15,000