Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Dec. 31, 2017 | Feb. 20, 2018 | |
Document And Entity Information | ||
Entity Registrant Name | NATURAL HEALTH FARM HOLDINGS INC | |
Entity Central Index Key | 1,621,697 | |
Document Type | 10-Q | |
Trading Symbol | NHEL | |
Document Period End Date | Dec. 31, 2017 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --09-30 | |
Entity a Well-known Seasoned Issuer | No | |
Entity a Voluntary Filer | No | |
Entity's Reporting Status Current | Yes | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 150,150,000 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2,017 |
Balance Sheets (Unaudited)
Balance Sheets (Unaudited) - USD ($) | Dec. 31, 2017 | Sep. 30, 2017 |
Current Assets | ||
Cash and cash equivalents | $ 69,342 | |
Total Current Assets | 69,342 | |
Computer Software, net | 21,243 | |
Total Assets | 90,585 | |
Current Liabilities | ||
Accounts payable | 7,462 | |
Accrued expense | 4,000 | 2,070 |
Deferred revenue - related parties | 77,001 | |
Payable to affiliate | 98,837 | 78,067 |
Advance from director | 500 | |
Total Current Liabilities | 187,800 | 80,137 |
Total Liabilities | 187,800 | 80,137 |
Stockholders' Deficit | ||
Common Stock, $0.001 par value, 500,000,000 shares authorized, 150,150,000 shares issued and outstanding | 150,150 | 150,150 |
Additional Paid in Capital | (111,821) | (111,821) |
Accumulated Deficit | (135,544) | (118,466) |
Total Stockholders' Deficit | (97,215) | $ (80,137) |
Total Liabilities and Stockholders' Deficit | $ 90,585 |
Balance Sheets (Unaudited) (Par
Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Dec. 31, 2017 | Sep. 30, 2017 |
Statement of Financial Position [Abstract] | ||
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, authorized | 500,000,000 | 500,000,000 |
Common stock, issued | 150,150,000 | 150,150,000 |
Common stock, outstanding | 150,150,000 | 150,150,000 |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Income Statement [Abstract] | ||
Revenues - related parties | $ 1,999 | |
Cost of Goods Sold | 607 | |
Gross Profit | 1,392 | |
Operating Expenses: | ||
Consulting fees | 8,003 | |
Legal and filing fees | 2,905 | |
Professional fees | 7,562 | 4,240 |
Total Operating Expenses | 18,470 | 4,240 |
Loss from Operations | (17,078) | (4,240) |
Other Income (Expense) | ||
Loss Before Provision for Income Tax | (17,078) | (4,240) |
Provision for Income Tax | ||
Net Loss | $ (17,078) | $ (4,240) |
Basic and Dilutive Net Loss Per Share (in dollars per share) | $ 0 | $ 0 |
Weighted Average Number of Shares Outstanding - Basic and Diluted (in shares) | 150,150,000 | 150,150,000 |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Cash Flows from Operating Activities: | ||
Net Loss | $ (17,078) | $ (4,240) |
Adjustment to reconcile net loss to net cash provided by (used in) operating activities | ||
Amortization of computer software costs | 607 | |
Changes in operating assets and liabilities | ||
(Increase) in prepaid expense | (4,286) | |
Increase in accounts payable | 7,462 | |
Increase in accrued expense | 1,930 | |
Increase in deferred revenue - related parties | 77,001 | |
Net Cash Flows Provided by (Used in) Operating Activities | 69,922 | (8,526) |
Cash Flows from Investing Activities | ||
Purchase of computer software | (21,850) | |
Net Cash Flows Used in Investing Activities | (21,850) | |
Cash Flows from Financing Activities | ||
Payable to affiliate | 20,770 | 8,526 |
Cash advance from director | 500 | |
Net Cash Flows Provided by Financing Activities | 21,270 | 8,526 |
Net Increase in Cash and Cash Equivalents | 69,342 | |
Cash and Cash Equivalents, Beginning of the Period | ||
Cash and Cash Equivalents, End of the Period | 69,342 | |
Supplemental Disclosures of Cash Flow Information: | ||
Cash paid for Income Taxes | ||
Cash paid for Interest | ||
Supplemental disclosures of non-cash investing and financing activities: | ||
Forgiveness of debt by a former director | $ 9,247 |
NATURE OF OPERATIONS AND GOING
NATURE OF OPERATIONS AND GOING CONCERN | 3 Months Ended |
Dec. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
NATURE OF OPERATIONS AND GOING CONCERN | NOTE 1 – NATURE OF OPERATIONS, BASIS OF PRESENTATION AND GOING CONCERN Natural Health Farm Holdings Inc. (the “Company”, “We”, “Its”, and “NHFH”) was incorporated under the laws of the State of Nevada on July 10, 2014 (Inception date). The Company has developed web-based business and launched itself into the healthcare industry. The Company has plans to provide through its subsidiaries, retail nutritional supplements, organic foods, personal care, and other health care products. The Company currently provides nutritional consulting services by offering a web based naturopathic learning management system that allows distributors, chiropractors and consumers to educate users products with the health-related aspects of various illnesses, and how the Company’s learning systems could be used to improve their general wellbeing. On November 30, 2016, the Company filed a certificate of amendment to its articles of incorporation with the Nevada Secretary of State to change its name from Amber Group Inc. to Natural Health Farm Holdings Inc. and effectuated a 30:1 forward stock split of its common stock and increased its authorized share capital to 500,000,000 (Five Hundred Million). This amendment was unanimously approved by the Company’s board of directors on November 29, 2016, and with the stockholders holding a majority of the Company’s voting power. On March 16, 2017, Financial Industry Regulatory Authority (FINRA) approved the corporate name change to Natural Health Farm Holdings Inc., approved the increase in the Company’s authorized shares of common stock to 500,000,000 shares, and approved 30:1 forward stock split effective March 17, 2017. The new trading symbol for our common stock is “NHEL”. Basis of Presentation The accompanying interim condensed financial statements are unaudited, but in the opinion of management of the Company, contain all adjustments, which include normal recurring adjustments necessary to present fairly the financial position at December 31, 2017, and the results of operations and cash flows for the three months ended December 31, 2017 and 2016. The balance sheet as of September 30, 2017 is derived from the Company’s audited financial statements. Certain information and footnote disclosures normally included in financial statements that have been prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission, although management of the Company believes that the disclosures contained in these interim condensed financial statements are adequate to make the information presented therein not misleading. For further information, refer to the financial statements and the notes thereto contained in the Company’s September 30, 2017 Annual Report filed with the Securities and Exchange Commission on Form 10-K on December 28, 2017. Going Concern The Company’s financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has generated small revenues and has sustained cumulative operating losses since July 10, 2014 (Inception Date) to date and allow it to continue as a going concern. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders and affiliates, the ability of the Company to obtain necessary financing to continue operations, and the attainment of profitable operations. The Company recorded a net loss of $17,078 from October 1, 2017 to December 31, 2017, provided net cash flows in operating activities of $69,922, has a working capital deficit of $118,458, and has an accumulated deficit of $135,544 as of December 31, 2017. The Company has had difficulty in obtaining working capital lines of credit from financial institutions and trade credit from vendors. These factors, among others, raise a substantial doubt regarding the Company’s ability to continue as a going concern. If the Company is unable to obtain adequate capital, it could be forced to cease operations. The accompanying financial statements do not include any adjustments to reflect 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. |
SUMMARY OF SIGNIFCANT ACCOUNTIN
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES | 3 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following summary of significant accounting policies of the Company is presented to assist in the understanding of the Company’s financial statements. The financial statements and notes are the representation of the Company’s management who is responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America (“GAAP”) in all material respects and have been consistently applied in preparing the accompanying financial statements. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) 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. The Company regularly evaluates estimates and assumptions related to the valuation of accounts payable, accrued liabilities and payable to related party. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. Cash and Cash Equivalents The Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents. The Company had a cash balance of $69,342 and $0 as of December 31, 2017 and September 30, 2017, respectively. Computer Software Costs Computer software costs include direct costs incurred for purchase of developed software products and payments made to independent software developers. The Company accounts for computer software costs in accordance with the FASB guidance for the costs of computer software to be sold, leased, or otherwise marketed (“ASC Subtopic 985-20”). Computer software costs are capitalized once the technological feasibility of a product is established and such costs are determined to be recoverable. Technological feasibility of a product encompasses technical design documentation and integration documentation, or the completed and tested product design and working model. Computer software costs are capitalized once technological feasibility of a product is established and such costs are determined to be recoverable against future revenues. Technological feasibility is evaluated on a project-by-project basis. Amounts related to computer software development that are not capitalized are charged immediately to the appropriate expense account. Amounts that are considered ‘research and development’ that are not capitalized are immediately charged to engineering, research, and development expense. Capitalized costs for those products that are cancelled or abandoned are charged to product development expense in the period of cancellation. Commencing upon product release, capitalized computer software costs are amortized on the straight-line method over a thirty-six months period. The Company evaluates the future recoverability of capitalized computer software costs on an annual basis. Revenue Recognition and Concentrations We generate revenue from licensing and other software services from our web-based software to distributors and retailers of nutritional supplements in the healthcare industry. We recognize licensing fees and other software services as revenue over the period of the contract at the time that the computer software are delivered, the selling price is fixed, and collection is reasonably assured, provided no significant obligations remain. We consider authoritative guidance on multiple deliverables in determining whether each deliverable represents a separate unit of accounting. Deferred revenues represent billings or cash received in excess of revenue recognizable on service agreements that are not accounted for as revenues. During the three months ended December 31, 2017, two related party customers accounted for 37% and 63%, respectively, of our revenues. The Company did not generate any revenues during the three months ended December 31, 2016. Concentration of Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash. The Company places its cash with high quality banking institutions. The Company does not have the cash balances in excess of Federal Deposit Insurance Corporation limit at December 31, 2017 and September 30, 2017, respectively. Income Taxes The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, “ Income Taxes” The Company follows the provisions of ASC 740-10, “ Accounting for Uncertain Income Tax Positions Earnings (Loss) Per Common Share The Company computes net earnings (loss) per share in accordance with ASC 260, “ Earnings per Share” Fair value of Financial Instruments and Fair Value Measurements ASC 820, “ Fair Value Measurements and Disclosures”, Level 1 Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. Level 2 Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability. Level 3 Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. The Company’s financial instruments consist principally of cash, accounts payable, accrued expenses and payable to an affiliate. Pursuant to ASC 820, “ Fair Value Measurements and Disclosures” Financial Instruments” The following table presents assets and liabilities that were measured and recognized at fair value as of December 31, 2017 on a recurring basis: Description Level 1 Level 2 Level 3 None $ - $ - $ - The following table presents assets and liabilities that were measured and recognized at fair value as of September 30, 2017 on a recurring basis: Description Level 1 Level 2 Level 3 None $ - $ - $ - Recent Accounting Pronouncements In November 2016, the FASB issued Accounting Standards Update No. 2016-18, “ Statement of Cash Flows (Topic 230): Restricted Cash” (“ASU 2016-18”) In August 2016, the FASB issued ASU 2016-15, “ Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments In June 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-13, “ Financial Instruments - Credit Losses In 2015, the FASB issued ASU No. 2015-17, “ Income Taxes” Balance Sheet Classification of Deferred Taxes In August 2014, the FASB issued ASU No. 2014-15, “ Presentation of Financial Statements—Going Concern |
COMPUTER SOFTWARE COSTS
COMPUTER SOFTWARE COSTS | 3 Months Ended |
Dec. 31, 2017 | |
Computer Software Costs | |
COMPUTER SOFTWARE | NOTE 3 – COMPUTER SOFTWARE COSTS The Company purchased web-based naturopathic learning management system computer software, developed by a third party, to educate users with the health-related products for various illnesses, and how the Company’s learning systems could be used to improve their general wellbeing. The amount capitalized include direct costs incurred in developing the software purchased from the third party. The following table presents details of our computer software costs as of December 31, 2017 and September 30, 2017: Balance at September 30, 2017 Additions Amortization Balance at December 31, 2017 Computer Software Costs, net $ - $ 21,850 $ (607 ) $ 21,243 Computer software costs are being amortized on a straight-line basis over their estimated life of three years. Amortization expense for computer software costs was $607 and $0 for the three months ended December 31, 2017 and 2016, respectively. The estimated future amortization expense of computer software costs as of December 31, 2017 is as follows: Year ending September 30, Amount 2018 $ 5,463 2019 7,283 2020 7,283 2021 1,214 Total $ 21,243 |
ACCOUNTS PAYABLE
ACCOUNTS PAYABLE | 3 Months Ended |
Dec. 31, 2017 | |
Accounts Payable | |
ACCOUNTS PAYABLE | NOTE 4 – ACCOUNTS PAYABLE Accounts payable at December 31, 2017 and September 30, 2017 totaled $7,462 and $0, respectively. Accounts payable consisted of $6,628 and $0 in legal and consulting fees and $835 and $0 of filing fees payable as of December 31, 2017 and September 30, 2017, respectively. |
PAYABLE TO AFFILIATES
PAYABLE TO AFFILIATES | 3 Months Ended |
Dec. 31, 2017 | |
Payable To Affiliates | |
PAYABLE TO AFFILIATE | NOTE 5 – PAYABLE TO AFFILIATES The Company has received an advance of $500 from a director for its working capital needs as of December 31, 2017 (see NOTE 6). The Company has received advances from an affiliate for its working capital needs from an entity in which its Chief Executive Officer is also a director in such entity. The advance received is non-interest bearing, unsecured and payable on demand is summarized as follows. Balance December 31, 2017 Balance September 30, 2017 (Unaudited) Payable to affiliate $ 98,837 $ 78,067 Total $ 98,837 $ 78,067 |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 3 Months Ended |
Dec. 31, 2017 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 6 – RELATED PARTY TRANSACTIONS The Company received an advance of $500 and $0 from a director for its working capital needs as of December 31, 2017 and September 30, 2017, respectively. Funds advanced to the Company by the director are non-interest bearing, unsecured and due on demand. The Company has received advances for its working capital needs from an affiliate in which the Company’s Chief Executive Officer holds the position of director in such entity (see NOTE 5). On November 20, 2017, the Company sold ten (10) naturopathic learning management system and modules for $29,000 to an entity solely owned by a director of the Company. The Company received the payment in full of $29,000 on December 21, 2017. The Company recorded $1,086 as revenues earned for the three months ended December 31, 2017 and $27,814 as deferred revenues at December 31, 2017. On December 11, 2017, the Company sold twenty (20) naturopathic learning management systems and modules for $50,000 to an entity in which the Company Chief Executive Officer holds the position of director in such entity. The Company received the payment of $50,000 on December 28, 2017. The Company recorded $913 as revenues earned for the three months ended December 31, 2017 and $49,087 as deferred revenues at December 31, 2017. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 3 Months Ended |
Dec. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 7 – COMMITMENTS AND CONTINGENCIES Litigation Costs and Contingencies From time to time, the Company may become involved in various lawsuits and legal proceedings, which arise in the ordinary course of business. Litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise from time to time that may harm business. Other than as set forth below, management is currently not aware of any such legal proceedings or claims that could have, individually or in the aggregate, a material adverse effect on our business, financial condition, or operating results. In the normal course of business, the Company incurs costs to hire and retain external legal counsel to advise it on regulatory, litigation and other matters. The Company expenses these costs as the related services are received. If a loss is considered probable and the amount can be reasonable estimated, the Company recognizes an expense for the estimated loss. |
STOCKHOLDERS' DEFICIT
STOCKHOLDERS' DEFICIT | 3 Months Ended |
Dec. 31, 2017 | |
Equity [Abstract] | |
STOCKHOLDERS' DEFICIT | NOTE 8: STOCKHOLDERS’ DEFICIT The Company’s capitalization at December 31, 2017 was 500,000,000 authorized common shares with a par value of $0.001 per share. Common Stock On November 30, 2016, the Company increased the authorized share capital from 75,000,000 shares of common stock to 500,000,000 shares of common stock. In addition, the Company effectuated a 30:1 forward stock split of the common stock on such date. During the three months ended December 31, 2017, the Company did not issue any shares of its common stock. As a result of all common stock issuances, the Company had 150,150,000 shares of common stock issued and outstanding as of December 31, 2017 and September 30, 2017, respectively. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 3 Months Ended |
Dec. 31, 2017 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 9 – SUBSEQUENT EVENTS Management has evaluated subsequent events through February 20, 2018, the date the financial statements were available to be issued, noting no items that would impact the accounting for events or transactions in the current period or require additional disclosure. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 3 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) 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. The Company regularly evaluates estimates and assumptions related to the valuation of accounts payable, accrued liabilities and payable to related party. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. |
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents. The Company had a cash balance of $69,342 and $0 as of December 31, 2017 and September 30, 2017, respectively. |
Computer Software Costs | Computer Software Costs Computer software costs include direct costs incurred for purchase of developed software products and payments made to independent software developers. The Company accounts for computer software costs in accordance with the FASB guidance for the costs of computer software to be sold, leased, or otherwise marketed (“ASC Subtopic 985-20”). Computer software costs are capitalized once the technological feasibility of a product is established and such costs are determined to be recoverable. Technological feasibility of a product encompasses technical design documentation and integration documentation, or the completed and tested product design and working model. Computer software costs are capitalized once technological feasibility of a product is established and such costs are determined to be recoverable against future revenues. Technological feasibility is evaluated on a project-by-project basis. Amounts related to computer software development that are not capitalized are charged immediately to the appropriate expense account. Amounts that are considered ‘research and development’ that are not capitalized are immediately charged to engineering, research, and development expense. Capitalized costs for those products that are cancelled or abandoned are charged to product development expense in the period of cancellation. Commencing upon product release, capitalized computer software costs are amortized on the straight-line method over a thirty-six months period. The Company evaluates the future recoverability of capitalized computer software costs on an annual basis. |
Revenue Recognition and Concentrations | Revenue Recognition and Concentrations We generate revenue from licensing and other software services from our web-based software to distributors and retailers of nutritional supplements in the healthcare industry. We recognize licensing fees and other software services as revenue over the period of the contract at the time that the computer software are delivered, the selling price is fixed, and collection is reasonably assured, provided no significant obligations remain. We consider authoritative guidance on multiple deliverables in determining whether each deliverable represents a separate unit of accounting. Deferred revenues represent billings or cash received in excess of revenue recognizable on service agreements that are not accounted for as revenues. During the three months ended December 31, 2017, two related party customers accounted for 37% and 63%, respectively, of our revenues. The Company did not generate any revenues during the three months ended December 31, 2016. |
Concentration of Credit Risk | Concentration of Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash. The Company places its cash with high quality banking institutions. The Company does not have the cash balances in excess of Federal Deposit Insurance Corporation limit at December 31, 2017 and September 30, 2017, respectively. |
Income Taxes | Income Taxes The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, “ Income Taxes” The Company follows the provisions of ASC 740-10, “ Accounting for Uncertain Income Tax Positions |
Earnings (Loss) Per Share | Earnings (Loss) Per Common Share The Company computes net earnings (loss) per share in accordance with ASC 260, “ Earnings per Share” |
Fair value of Financial Instruments and Fair Value Measurements | Fair value of Financial Instruments and Fair Value Measurements ASC 820, “ Fair Value Measurements and Disclosures”, Level 1 Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. Level 2 Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability. Level 3 Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. The Company’s financial instruments consist principally of cash, accounts payable, accrued expenses and payable to an affiliate. Pursuant to ASC 820, “ Fair Value Measurements and Disclosures” Financial Instruments” The following table presents assets and liabilities that were measured and recognized at fair value as of December 31, 2017 on a recurring basis: Description Level 1 Level 2 Level 3 None $ - $ - $ - The following table presents assets and liabilities that were measured and recognized at fair value as of September 30, 2017 on a recurring basis: Description Level 1 Level 2 Level 3 None $ - $ - $ - |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In November 2016, the FASB issued Accounting Standards Update No. 2016-18, “ Statement of Cash Flows (Topic 230): Restricted Cash” (“ASU 2016-18”) In August 2016, the FASB issued ASU 2016-15, “ Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments In June 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-13, “ Financial Instruments - Credit Losses In 2015, the FASB issued ASU No. 2015-17, “ Income Taxes” Balance Sheet Classification of Deferred Taxes In August 2014, the FASB issued ASU No. 2014-15, “ Presentation of Financial Statements—Going Concern |
SUMMARY OF SIGNIFICANT ACCOUN16
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 3 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Schedule of assets and liabilities measured and recognized at fair value | The following table presents assets and liabilities that were measured and recognized at fair value as of December 31, 2017 on a recurring basis: Description Level 1 Level 2 Level 3 None $ - $ - $ - The following table presents assets and liabilities that were measured and recognized at fair value as of September 30, 2017 on a recurring basis: Description Level 1 Level 2 Level 3 None $ - $ - $ - |
COMPUTER SOFTWARE COSTS (Tables
COMPUTER SOFTWARE COSTS (Tables) | 3 Months Ended |
Dec. 31, 2017 | |
Computer Software Costs | |
Schedule of computer software costs | The following table presents details of our computer software costs as of December 31, 2017 and September 30, 2017: Balance at September 30, 2017 Additions Amortization Balance at December 31, 2017 Computer Software Costs, net $ - $ 21,850 $ (607 ) $ 21,243 |
Schedule of estimated future amortization expense of computer software costs | The estimated future amortization expense of computer software costs as of December 31, 2017 is as follows: Year ending September 30, Amount 2018 $ 5,463 2019 7,283 2020 7,283 2021 1,214 Total $ 21,243 |
PAYABLE TO AFFILIATES (Tables)
PAYABLE TO AFFILIATES (Tables) | 3 Months Ended |
Dec. 31, 2017 | |
Payable To Affiliates | |
Schedule of payable to affiliate | The advance received is non-interest bearing, unsecured and payable on demand is summarized as follows. Balance December 31, 2017 Balance September 30, 2017 (Unaudited) Payable to affiliate $ 98,837 $ 78,067 Total $ 98,837 $ 78,067 |
NATURE OF OPERATIONS, BASIS OF
NATURE OF OPERATIONS, BASIS OF PRESENTATION AND GOING CONCERN (Details Narrative) - USD ($) | Nov. 30, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2017 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||
Description of forward stock split | 30:1 forward stock split | |||
Increased authorized share capital | 500,000,000 | 500,000,000 | ||
Net loss | $ (17,078) | $ (4,240) | ||
Accumulated deficit | (135,544) | $ (118,466) | ||
Net cash used in operating activities | 69,922 | $ (8,526) | ||
Working capital deficit | $ 118,458 |
SUMMARY OF SIGNIFICANT ACCOUN20
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) | Dec. 31, 2017 | Sep. 30, 2017 |
Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets and liabilities at fair value | ||
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets and liabilities at fair value | ||
Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets and liabilities at fair value |
SUMMARY OF SIGNIFICANT ACCOUN21
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | 3 Months Ended | |||
Dec. 31, 2017 | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | |
Product Information [Line Items] | ||||
Cash balance | $ 69,342 | |||
Useful life of computer software | 3 years | |||
Sales Revenue, Net [Member] | One Customer [Member] | ||||
Product Information [Line Items] | ||||
Concentration risk, percentage | 37.00% | |||
Sales Revenue, Net [Member] | Two Customer [Member] | ||||
Product Information [Line Items] | ||||
Concentration risk, percentage | 63.00% |
COMPUTER SOFTWARE COSTS (Detail
COMPUTER SOFTWARE COSTS (Details) - USD ($) | 3 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Computer Software Costs | ||
Balance at beginning | ||
Additions | 21,850 | |
Amortization | (607) | |
Balance at end | $ 21,243 |
COMPUTER SOFTWARE COSTS (Deta23
COMPUTER SOFTWARE COSTS (Details 1) - USD ($) | Dec. 31, 2017 | Sep. 30, 2017 |
Computer Software Costs | ||
2,018 | $ 5,463 | |
2,019 | 7,283 | |
2,020 | 7,283 | |
2,021 | 1,214 | |
Total | $ 21,243 |
COMPUTER SOFTWARE COSTS (Deta24
COMPUTER SOFTWARE COSTS (Details Narrative) - USD ($) | 3 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Computer Software Costs | ||
Useful life of computer software | 3 years | |
Purchase of computer software | $ 21,850 | |
Amortization of computer software costs | $ 607 |
ACCOUNTS PAYABLE (Details Narra
ACCOUNTS PAYABLE (Details Narrative) - USD ($) | Dec. 31, 2017 | Sep. 30, 2017 |
Accounts Payable | ||
Accounts payable | $ 7,462 | |
Accounts payable legal and consulting fees | 6,628 | 0 |
Accounts payable filing fees | $ 835 | $ 0 |
PAYABLE TO AFFILIATES (Details)
PAYABLE TO AFFILIATES (Details) - USD ($) | Dec. 31, 2017 | Sep. 30, 2017 |
Payable To Affiliates | ||
Advance from director | $ 500 | $ 0 |
Payable to affiliate | 98,837 | 78,067 |
Total | $ 98,837 | $ 78,067 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) | Dec. 28, 2017USD ($) | Dec. 21, 2017USD ($) | Dec. 11, 2017N | Nov. 20, 2017N | Dec. 31, 2017USD ($) | Sep. 30, 2017USD ($) |
Defined Benefit Plan Disclosure [Line Items] | ||||||
Advance from director | $ 500 | $ 0 | ||||
Number of naturopathic learning management system sold | N | 20 | 10 | ||||
Proceeds from naturopathic learning management system sold | $ 50,000 | $ 29,000 | ||||
Deferred revenue from related parties | 77,001 | |||||
Director [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Revenue from related parties | 1,086 | |||||
Deferred revenue from related parties | 27,814 | |||||
Chief Executive Officer [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Revenue from related parties | 913 | |||||
Deferred revenue from related parties | $ 49,087 |
STOCKHOLDERS' DEFICIT (Details
STOCKHOLDERS' DEFICIT (Details Narrative) - $ / shares | Nov. 30, 2016 | Dec. 31, 2017 | Sep. 30, 2017 |
Equity [Abstract] | |||
Previously common stock, authorized | 75,000,000 | ||
Revised common stock, authorized | 500,000,000 | 500,000,000 | |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 | |
Description of forward stock split | 30:1 forward stock split | ||
Common stock, issued | 150,150,000 | 150,150,000 | |
Common stock, outstanding | 150,150,000 | 150,150,000 |