Acro Biomedical (ACBM) 10-Q 23 Aug 21 2021 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2021	Aug. 13, 2021
Cover [Abstract]
Entity Registrant Name	ACRO BIOMEDICAL CO., LTD.
Entity Central Index Key	0001622996
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Current Reporting Status	Yes
Document Period End Date	Jun. 30, 2021
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021
Entity Ex Transition Period	false
Entity Common Stock Shares Outstanding		54,536,000
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation State Country Code	NV
Entity Tax Identification Number	47-1950356
Entity Address Address Line 1	12175 Visionary Way
Entity Address Address Line 2	Suite 1160
Entity Address City Or Town	Fishers
Entity Address State Or Province	IN
Entity Address Postal Zip Code	46038
City Area Code	317
Local Phone Number	286-6788
Entity Interactive Data Current	Yes
Entity File Number	000-55643

Balance Sheets

Balance Sheets - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Current Assets
Cash	$ 215,494	$ 18,123
Inventories	448,000	938,000
Purchase deposit for inventory	12,000	12,000
Prepaid expenses	8,167	1,000
Security deposit	4,230	4,230
Total Current Assets	687,891	973,353
Operating lease right of use asset	12,474	24,700
TOTAL ASSETS	700,365	998,053
Current Liabilities
Accounts payable and accrued expenses	12,072	24,734
Deferred revenue	20,000	20,000
Due to related parties	15,932	242,951
Operating lease liabilities	12,154	24,500
Total Current Liabilities	60,158	312,185
TOTAL LIABILITIES	60,158	312,185
Stockholders' Equity
Preferred stock: 25,000,000 authorized; $0.001 par value; no shares issued and outstanding	0	0
Common stock: 100,000,000 authorized; $0.001 par value; 54,536,000 and 47,760,000 shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively	54,536	47,760
Additional paid-in capital	20,185,456	876,762
Deferred stock compensation	(18,506,950)
Accumulated deficit	(1,092,835)	(238,654)
Total Stockholders' Equity	640,207	685,868
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 700,365	$ 998,053

Balance Sheets (Parentheticals)

Balance Sheets (Parentheticals) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Balance Sheets
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, shares authorized	100,000,000	100,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares issued	54,536,000	47,760,000
Common stock, shares outstanding	54,536,000	47,760,000

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statements of Operations (Unaudited)
Revenues	$ 500,000	$ 0	$ 599,500	$ 687,964
Cost of revenues	420,000	0	490,000	528,560
Gross profit	80,000	0	109,500	159,404
Operating expenses
Selling, general and administrative	231,595	62,771	318,086	140,618
Research and development	641,725	0	641,725	0
Total operating expenses	873,320	62,771	959,811	140,618
Income (loss) from operations	(793,320)	(62,771)	(850,311)	18,786
Other expense
Interest expense - related party	1,367	928	3,870	1,369
Total other expenses	1,367	928	3,870	1,369
Income (loss) before income tax credit	(794,687)	(63,699)	(854,181)	17,417
Income taxes credit	0	0	0	0
Net income (loss)	$ (794,687)	$ (63,699)	$ (854,181)	$ 17,417
Basic and diluted income (loss) per share of common stock	$ (0.02)	$ 0	$ (0.02)	$ 0
Weighted average number of shares of common stock outstanding	50,515,077	47,760,000	49,145,149	47,760,000

Statements of Changes in Stockh

Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)	Total	Preferred Stock	Common Stock	Additional Paid-In Capital	Retained Earnings (Accumulated Deficit)	Deferred stock compensation
Balance, shares at Dec. 31, 2019			47,760,000
Balance, amount at Dec. 31, 2019	$ 798,239	$ 0	$ 47,760	$ 871,680	$ (121,201)
Imputed interest on related party loans	441	0	0	441	0
Net income	81,116	0	$ 0	0	81,116
Balance, shares at Mar. 31, 2020			47,760,000
Balance, amount at Mar. 31, 2020	879,796	0	$ 47,760	872,121	(40,085)
Balance, shares at Dec. 31, 2019			47,760,000
Balance, amount at Dec. 31, 2019	798,239	0	$ 47,760	871,680	(121,201)
Net loss	17,417
Balance, shares at Jun. 30, 2020			47,760,000
Balance, amount at Jun. 30, 2020	817,025	0	$ 47,760	873,049	(103,784)
Balance, shares at Mar. 31, 2020			47,760,000
Balance, amount at Mar. 31, 2020	879,796	0	$ 47,760	872,121	(40,085)
Imputed interest on related party loans	928	0	0	928	0
Net loss	(63,699)	0	$ 0	0	(63,699)
Balance, shares at Jun. 30, 2020			47,760,000
Balance, amount at Jun. 30, 2020	817,025	0	$ 47,760	873,049	(103,784)
Balance, shares at Dec. 31, 2020			47,760,000
Balance, amount at Dec. 31, 2020	685,868	0	$ 47,760	876,762	(238,654)	$ 0
Imputed interest on related party loans	2,503	0	0	2,503	0	0
Net loss	(59,494)	0	$ 0	0	(59,494)	0
Balance, shares at Mar. 31, 2021			47,760,000
Balance, amount at Mar. 31, 2021	628,877	0	$ 47,760	879,265	(298,148)	0
Balance, shares at Dec. 31, 2020			47,760,000
Balance, amount at Dec. 31, 2020	685,868	0	$ 47,760	876,762	(238,654)	0
Net loss	(854,181)
Balance, shares at Jun. 30, 2021			54,536,000
Balance, amount at Jun. 30, 2021	640,207	0	$ 54,536	20,185,456	(1,092,835)	(18,506,950)
Balance, shares at Mar. 31, 2021			47,760,000
Balance, amount at Mar. 31, 2021	628,877	0	$ 47,760	879,265	(298,148)	0
Imputed interest on related party loans	1,367	0	0	1,367	0	0
Net loss	(794,687)	0	$ 0	0	(794,687)	0
Share issuance for services, shares			6,776,000
Share issuance for services, amount	804,650	0	$ 6,776	19,304,824	0	(18,506,950)
Balance, shares at Jun. 30, 2021			54,536,000
Balance, amount at Jun. 30, 2021	$ 640,207	$ 0	$ 54,536	$ 20,185,456	$ (1,092,835)	$ (18,506,950)

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ (854,181)	$ 17,417
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Imputed interest - related parties	3,870	1,369
Stock based compensation	804,650	0
Change of ROU asset and lease liabilities	(120)	2,035
Changes in operating assets and liabilities:
Inventories	490,000	(59,440)
Purchase deposit for inventory	0	(12,000)
Prepaid expenses	(7,167)	(7,000)
Accounts payable and accrued expenses	(12,662)	(22,762)
Deferred revenue	0	(17,464)
Net cash provided by (used in) operating activities	424,390	(97,845)
CASH FLOWS FROM FINANCING ACTIVITIES
Advances from related parties	14,832	97,315
Repayment to related parties	(241,851)	0
Net cash (used in) provided by financing activities	(227,019)	97,315
Net change in cash	197,371	(530)
Cash at beginning of period	18,123	911
Cash at end of period	215,494	381
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for income taxes	0	0
Cash paid for interest	$ 0	$ 0

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	6 Months Ended
	Jun. 30, 2021
ORGANIZATION AND DESCRIPTION OF BUSINESS
NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS	NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS Acro Biomedical Co., Ltd. (the “Company”) is a Nevada corporation incorporated on September 24, 2014 under the name Killer Waves Hawaii, Inc. On January 30, 2017, the Company’s corporate name was changed to Acro Biomedical Co., Ltd. The Company’s business is the sale of cordyceps related products and, to a significantly lesser extent, metallothionein MT-3 elizer, a protein that in powder form is used in health supplements. Cordyceps is a fungus that is used in traditional Chinese medicine. The Company has not sold metallothionein MT-3 elizer since the quarter ended June 30, 2018, and its present inventory and the purchase deposit for inventory are for cordyceps related products. During the second quarter of 2021, the Company engaged consultants to take the initial steps to develop and implement a research and development and marketing program. These consultants are working independently and report to the chief executive officer. The Company cannot give any assurance that the marketing and research development activities will generate any new product or new marketing opportunities or generate any significant revenue.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Unaudited Interim Financial Statements The accompanying unaudited interim financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and with Rule 8-03 of Regulation S-X. Accordingly, the unaudited interim financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. Notes to the unaudited interim financial statements that would substantially duplicate the disclosures contained in the audited financial statements for the year ended December 31, 2020 have been omitted; and these unaudited interim financial statements should be read in conjunction with the audited financial statements and the footnotes thereto for the year ended December 31, 2020 included within the Company’s transition report on Form 10-K, filled with SEC on April 2, 2021. In the opinion of management, all adjustments consisting of normal recurring entries necessary for a fair statement of the periods presented for: (a) the financial position; (b) the result of operations; and (c) cash flows, have been made in order to make the unaudited interim financial statements presented not misleading. The results of operations for such interim periods are not necessarily indicative of operations for a full year. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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. The estimates and judgments will also affect the reported amounts for certain revenues and expenses during the reporting period. Actual results could differ from these good faith estimates and judgments. Revenue Recognition We recognize revenue in accordance with Topic 606, which requires revenues are recognized when control of the promised goods or services are transferred to a customer, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements: • identify the contract with a customer; • identify the performance obligations in the contract; • determine the transaction price; • allocate the transaction price to performance obligations in the contract; and • recognize revenue as the performance obligation is satisfied. Under these criteria, the Company generally recognizes revenue when its products are delivered to customers in accordance with the written sales terms. Inventories Inventories consist of finished goods. Inventories are valued at the lower of cost or net realizable value. The Company determines cost on the basis of first-in, first-out methods. The Company periodically reviews inventories for obsolescence and any inventories identified as obsolete are written down or written off. Although the Company believes that the assumptions it uses to estimate inventory write-downs are reasonable, future changes in these assumptions could provide a significantly different result. No inventory markdown was recorded for the six months ended June 30, 2021 and 2020. Net Income (Loss) Per Share of Common Stock The Company has adopted ASC Topic 260, “ Earnings per Share” COVID-19 Since our products are purchased by customers in the Republic of China (Taiwan) and Hong Kong who sold products to their customers in the People’s Republic of China (the “PRC”), our business was impacted by the effects of the COVID-19 pandemic and the actions taken by the governments of the PRC, the Republic of China and Hong Kong. We cannot predict the effect on our business of the COVID-19 pandemic and the steps taken by governments to address the pandemic. A prolonged outbreak could have a material adverse impact on financial results and business operations of the Company.

GOING CONCERN

GOING CONCERN	6 Months Ended
	Jun. 30, 2021
GOING CONCERN
NOTE 3 - GOING CONCERN	NOTE 3 - GOING CONCERN The accompanying unaudited financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. The Company incurred losses from its operations and had accumulated deficit as of June 30, 2021. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. The Company proposes to fund operations through sales of its products and equity financing arrangements. However, the Company does not have any agreements or understanding with respect to any financing and, because of the lack of sales and the absence of any active trading market for its common stock, its financial condition and its lack of an operating history, the Company may not be able to raise funds for capital expenditures, working capital and other cash requirements. The Company’s ability to implement its marketing plan may also be affected by the COVID-19 pandemic and actions taken by governments to address the pandemic as well as political events and legislation in Hong Kong. If the Company cannot generate revenue from its products, it may not be able to continue in its business and may need to rely on advances from stockholders.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2021
RELATED PARTY TRANSACTIONS
NOTE 4 - RELATED PARTY TRANSACTIONS	NOTE 4 - RELATED PARTY TRANSACTIONS During the six months ended June 30, 2021 and 2020, a stockholder paid expenses of $14,832 and $97,315 on behalf of the Company and the Company repaid $241,851 and $0 to a stockholder, respectively. At June 30, 2021 and December 31, 2020, the Company owed $14,832 and $241,851 to a stockholder who is not a 5% stockholder for non-interest-bearing advances made to or paid expenses on behalf of the Company, respectively. These advances are due on demand. At June 30, 2021 and December 31, 2020, the Company owed $1,100 to our CEO for non-interest-bearing advances made to or paid expenses on behalf of the Company. These advances are due on demand. The Company has imputed interest at the rate of 4% on the advances made to the Company in the amount of $3,870 and $1,369 during the six months ended June 30, 2021 and 2020, respectively.

LEASES

LEASES	6 Months Ended
	Jun. 30, 2021
LEASES
NOTE 5 - LEASES	NOTE 5 - LEASES On December 27, 2019, the Company entered into a lease agreement to rent a storage facility in Hong Kong for a two-year term at HK$16,500 (approximately $2,115) per month. A stockholder paid HK$33,000 (approximately $4,230) as a security deposit and HK$16,500 (approximately $2,115) as prepaid rent on behalf of the Company. In accordance with ASC 842, the Company recognized operating lease ROU assets and lease liabilities as follows: June 30, December 31, 2021 2020 Operating lease ROU asset $ 12,474 $ 24,700 June 30, December 31, 2021 2020 Operating lease liabilities $ 12,154 $ 24,500 Future minimum lease payments under operating leases at June 30, 2021 were as follows: Remainder 2021 $ 12,252 Thereafter - Total $ 12,252 The Company recognized total lease expense of $12,571 and $12,571 for the six months ended June 30, 2021 and 2020, respectively, primarily related to operating rent lease costs paid to lessors.

EQUITY

EQUITY	6 Months Ended
	Jun. 30, 2021
EQUITY
NOTE 6 - EQUITY	NOTE 6 – EQUITY During the six months ended June 30, 2021, the Company issued pursuant to the Company’s 2020 equity incentive plan, a total of 6,776,000 shares of common stock to consultants as stock grants pursuant to agreements with the consultants. The agreements provide for the consultants to perform services described in the contracts for the two-year period commencing May 25, 2021. The shares were valued at $19,311,600, based on the market price of the common stock on the respective dates of the agreements, which was $2.85 per share, and amortized over two year period on the straight line method. During the six months ended June 30, 2021, the Company recorded stock-based compensation of $804,650 and had deferred stock compensation of $18,506,950 as of June 30, 2021.

CONCENTRATION

CONCENTRATION	6 Months Ended
	Jun. 30, 2021
CONCENTRATION
NOTE 7 - CONCENTRATION	NOTE 7 - CONCENTRATION Revenue During the six months ended June 30, 2021, all revenue was derived from two customers, customer A, which accounted for 83% of revenue, and customer B, which accounted for 17% of revenues. During the six months ended June 30, 2020, all revenue was derived from customer B. During the three months ended June 30, 2021, all revenue was derived from customer A. During the three months ended June 30, 2020, we did not generate revenue. Purchases During the six months ended June 30, 2021, we did not purchase inventory. During the six months ended June 30, 2020, we purchased inventory from one supplier. We did not purchase any inventory during the three months ended June 30, 2021 and 2020. During the three months ended June 30, 2020, we received delivery of inventory which had been purchased during the three months ended March 31, 2020.

INCOME TAX

INCOME TAX	6 Months Ended
	Jun. 30, 2021
INCOME TAX
NOTE 8 - INCOME TAX	NOTE 8 - INCOME TAX The reconciliation of income tax credit at the statutory federal income tax rate of 21% to the Company’s effective income taxes is as follows: Six Months ended June 30, 2021 2020 Income tax expense (credit) at statutory rate $ (179,378 ) $ 3,658 Income tax adjustment Imputed interest 813 287 Stock based compensation 168,977 - Change of valuation allowance 9,588 (3,945 ) Income tax expense (credit) $ - $ - Net deferred tax assets consist of the following components: June 30, December 31, 2021 2020 Operating loss carry forward $ 76,233 $ 66,645 Valuation allowance (76,233 ) (66,645 ) Deferred tax asset $ - $ -

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2021
SUBSEQUENT EVENTS
NOTE 9 - SUBSEQUENT EVENTS	NOTE 9 - SUBSEQUENT EVENTS The Company has evaluated subsequent events that have occurred after the date of the balance sheet through the date of the issuance of these unaudited financial statements and determined that no subsequent event requires recognition or disclosure to the unaudited financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Unaudited Interim Financial Statements	The accompanying unaudited interim financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and with Rule 8-03 of Regulation S-X. Accordingly, the unaudited interim financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. Notes to the unaudited interim financial statements that would substantially duplicate the disclosures contained in the audited financial statements for the year ended December 31, 2020 have been omitted; and these unaudited interim financial statements should be read in conjunction with the audited financial statements and the footnotes thereto for the year ended December 31, 2020 included within the Company’s transition report on Form 10-K, filled with SEC on April 2, 2021. In the opinion of management, all adjustments consisting of normal recurring entries necessary for a fair statement of the periods presented for: (a) the financial position; (b) the result of operations; and (c) cash flows, have been made in order to make the unaudited interim financial statements presented not misleading. The results of operations for such interim periods are not necessarily indicative of operations for a full year.
Use of Estimates	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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. The estimates and judgments will also affect the reported amounts for certain revenues and expenses during the reporting period. Actual results could differ from these good faith estimates and judgments.
Revenue Recognition	We recognize revenue in accordance with Topic 606, which requires revenues are recognized when control of the promised goods or services are transferred to a customer, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements: • identify the contract with a customer; • identify the performance obligations in the contract; • determine the transaction price; • allocate the transaction price to performance obligations in the contract; and • recognize revenue as the performance obligation is satisfied. Under these criteria, the Company generally recognizes revenue when its products are delivered to customers in accordance with the written sales terms.
Inventories	Inventories consist of finished goods. Inventories are valued at the lower of cost or net realizable value. The Company determines cost on the basis of first-in, first-out methods. The Company periodically reviews inventories for obsolescence and any inventories identified as obsolete are written down or written off. Although the Company believes that the assumptions it uses to estimate inventory write-downs are reasonable, future changes in these assumptions could provide a significantly different result. No inventory markdown was recorded for the six months ended June 30, 2021 and 2020.
Net Income (Loss) Per Share of Common Stock	The Company has adopted ASC Topic 260, “ Earnings per Share”
COVID-19	Since our products are purchased by customers in the Republic of China (Taiwan) and Hong Kong who sold products to their customers in the People’s Republic of China (the “PRC”), our business was impacted by the effects of the COVID-19 pandemic and the actions taken by the governments of the PRC, the Republic of China and Hong Kong. We cannot predict the effect on our business of the COVID-19 pandemic and the steps taken by governments to address the pandemic. A prolonged outbreak could have a material adverse impact on financial results and business operations of the Company.

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2021
LEASES
Schedule of operating lease	June 30, December 31, 2021 2020 Operating lease ROU asset $ 12,474 $ 24,700 June 30, December 31, 2021 2020 Operating lease liabilities $ 12,154 $ 24,500
Schedule of future minimum lease payments	Remainder 2021 $ 12,252 Thereafter - Total $ 12,252

INCOME TAX (Tables)

INCOME TAX (Tables)	6 Months Ended
	Jun. 30, 2021
INCOME TAX
Schedule of reconciliation of income tax credit	Six Months ended June 30, 2021 2020 Income tax expense (credit) at statutory rate $ (179,378 ) $ 3,658 Income tax adjustment Imputed interest 813 287 Stock based compensation 168,977 - Change of valuation allowance 9,588 (3,945 ) Income tax expense (credit) $ - $ -
Schedule of net deferred tax assets	June 30, December 31, 2021 2020 Operating loss carry forward $ 76,233 $ 66,645 Valuation allowance (76,233 ) (66,645 ) Deferred tax asset $ - $ -

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Due to related parties	$ 14,832	$ 241,851
Percentage of inputed interest	5%
Advances from related parties	$ 14,832	97,315
Repayment to related parties	241,851	0
Imputed interest - related parties	3,870	1,369
Chief Executive Officer [Member]
Due to related parties	$ 1,100	$ 1,100

LEASES (Details)

LEASES (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
LEASES
Operating lease ROU asset	$ 12,474	$ 24,700

LEASES (Details 1)

LEASES (Details 1) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
LEASES
Operating lease liabilities	$ 12,154	$ 24,500

LEASES (Details 2)

LEASES (Details 2)	Jun. 30, 2021USD ($)
LEASES
Remainder 2021	$ 12,252
Thereafter	0
Total	$ 12,252

LEASES (Details Narrative)

LEASES (Details Narrative)	1 Months Ended	6 Months Ended
	Dec. 27, 2019	Jun. 30, 2021USD ($)	Jun. 30, 2021HKD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021HKD ($)	Dec. 31, 2020USD ($)
Rent expenses		$ 2,115
Security deposit		4,230				$ 4,230
Prepaid rent		2,115
Total lease expenses		$ 12,571		$ 12,571
Hong Kong [Member] | Lease Agreement [Member]
Rent expenses			$ 16,500
Security deposit					$ 33,000
Prepaid rent					$ 16,500
Lease term	two-year

EQUITY (Detail Narrative)

EQUITY (Detail Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Deferred stock compensation	$ 18,506,950
Stock based compensation expenses	$ 804,650	$ 0
2020 Equity Incentive Plan [Member]
Common stock share stock grants	6,776,000
Common stock share stock grants, value	$ 19,311,600
Coomon stock shares price per share	$ 2.85
Agreements description	The agreements provide for the consultants to perform services described in the contracts for the two-year period commencing May 25, 2021

CONCENTRATION (Details Narrativ

CONCENTRATION (Details Narrative) - Revenue [Member]	6 Months Ended
	Jun. 30, 2021
Customer B [Member]
Concentration credit risk	17%
Customer A [Member]
Concentration credit risk	83%

INCOME TAX (Details)

INCOME TAX (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
INCOME TAX
Income tax expense (credit) at statutory rate			$ (179,378)	$ 3,658
Imputed interest			813	287
Stock based compensation			168,977	0
Change of valuation allowance			9,588	(3,945)
Income tax expense (credit)	$ 0	$ 0	$ 0	$ 0

INCOME TAX (Details 1)

INCOME TAX (Details 1) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
INCOME TAX
Operating loss carry forward	$ 76,233	$ 66,645
Valuation allowance	(76,233)	(66,645)
Deferred tax asset	$ 0	$ 0

INCOME TAX (Details Narrative)

INCOME TAX (Details Narrative)	6 Months Ended
	Jun. 30, 2021
INCOME TAX
Statutory federal income tax rate	21%