CannaMED Enterprises 10-K 30 Mar 18 2017 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Mar. 30, 2018	Jun. 30, 2017
Document Information [Line Items]
Entity Registrant Name	CannaMED Enterprises, Inc.
Entity Central Index Key	1,623,016
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		3,500,000
Entity Public Float			$ 0
Document Type	10-K
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Amendment Flag	false

Balance Sheets

Balance Sheets - USD ($)	Dec. 31, 2017	Dec. 31, 2016
ASSETS
Prepaid expenses	$ 2,500	$ 0
TOTAL ASSETS	2,500
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Accounts payable and accrued expenses	1,080	0
Related party payable	40,504	13,026
TOTAL LIABILITIES	41,584	13,026
STOCKHOLDERS’ DEFICIT:
Preferred stock, $0.0001 par value, 20,000,000 shares authorized, none issued and outstanding as of December 31, 2017 and December 31, 2016, respectively
Common stock, $0.0001 par value, 100,000,000 shares authorized, 3,500,000 shares issued and outstanding as of December 31, 2017 and December 31, 2016	350	350
Discount on common stock	(350)	(350)
Additional paid in capital	21,730	21,730
Accumulated deficit	(60,814)	(34,756)
Total Stockholders’ Deficit	(39,084)	(13,026)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	$ 2,500

Balance Sheets (Parentheticals)

Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2017	Dec. 31, 2016
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	20,000,000	20,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	3,500,000	3,500,000
Common stock, shares outstanding (in shares)	3,500,000	3,500,000

Statements of Operations

Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
REVENUES
COST OF REVENUES
GROSS PROFIT
Operating expenses	26,058	22,713
TOTAL OPERATING EXPENSES	(26,058)	(22,713)
LOSS FROM OPERATIONS	(26,058)	(22,713)
LOSS BEFORE PROVISION FOR INCOME TAXES	(26,058)	(22,713)
Provision for income taxes	0	0
NET LOSS	$ (26,058)	$ (22,713)
NET LOSS PER SHARE OF COMMON STOCK - Basic and diluted (in dollars per share)	$ (0.01)	$ (0.01)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - Basic and diluted (in shares)	3,500,000	3,500,000

Statement of Changes in Stockho

Statement of Changes in Stockholders' Deficit - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Discount on Common Stock [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2015	3,500,000
Balance at Dec. 31, 2015	$ 350	$ 7,318	$ (350)	$ (12,043)	$ (4,725)
Contribution from shareholders		14,412			14,412
Net loss				(22,713)	(22,713)
Balance (in shares) at Dec. 31, 2016	3,500,000
Balance at Dec. 31, 2016	$ 350	21,730	(350)	(34,756)	(13,026)
Net loss				(26,058)	(26,058)
Balance (in shares) at Dec. 31, 2017	3,500,000
Balance at Dec. 31, 2017	$ 350	$ 21,730	$ (350)	$ (60,814)	$ (39,084)

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
OPERATING ACTIVITIES:
Net loss	$ (26,058)	$ (22,713)
Changes in Operating Assets and Liabilities
Prepaid expenses	(2,500)
Accrued liabilities	1,080	(4,725)
Net cash used in operating activities	(27,478)	(27,438)
INVESTING ACTIVITIES:
Net cash used in investing activities
FINANCING ACTIVITIES:
Proceeds from related party payable	27,478	13,026
Proceeds from stockholders’ contribution	0	14,412
Net cash provided by financing activities	27,478	27,438
Net increase (decrease) in cash
Cash at beginning of period
Cash at end of period
Supplemental disclosure of cash flow information:
Cash paid for interest
Cash paid for income tax

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation and Organization	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	NOTE 1 Nature of Operations and Background — CannaMED Enterprises, Inc. (“ CannaMED” or “the Company”) was incorporated on September 25, 2014 not 1934. 351 368 1986, During the period covered by this report, the Company located such a target and began the process to effect a change in control. On August 24, 2015, in a change of control of the Company: 1. The officers and directors of Redwood Valley, James Cassidy and James McKillop, entered into a Share Purchase Agreement (the “SPA”) pursuant to which they entered into an agreement to sell an aggregate of 19,500,000 ’s common stock to Mikhail Artamonov, at an aggregate purchase price of $75,000. 98% 7% 2. The Company redeemed and cancelled an aggregate of 19,500,000 20,000,000 $.0001 3. Mikhail Artamonov was named President, Secretary and Chief Financial Officer of the Company. He now serves as the Chief Executive Officer, Secretary, Chief Financial Officer and Director of the Company. On August 25, 2015, 3,000,000 86% total outstanding 3,500,000 The Company envisions to initially enter into joint ventures or acquire pa rtial ownership in: ● a laboratory for medical cannabis testing, a pharmacy to perform research; ● a pharmacy to perform research and development of the newest medical cannabis formulations; ● a clinical practice to establish the network dispensaries; ● a packaging company; ● a research facility; and ● real estate to establish the foundation for the growing network Basis of Presentation – The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). Intercompany accounts and transactions have been eliminated. Use of Estimates – The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that may Income Taxes – CannaMED accounts for income taxes in accordance with ASC 740, ASC 740” not ASC 740 ’s financial statements. ASC 740 not not Cash and Cash Equivalents – Cash and cash equ ivalents includes all highly liquid instruments with an original maturity of three December 31, 2017. not December 31, 2017 December 31, 2016 . Concentration of Risk – Financial instrum ents 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 did not December 31, 2017 December 31, 2016 . Fair Value of Financial Instruments – The Company adopted ASC 820, 820 820 three hy for disclosures of fair value measurement and enhances disclosure requirements for fair value measures. The three ● Level 1 ● Level 2 ● Level 3 The carrying value of cash, accounts payables and accrued expenses approximates their fair values due to their short-term maturities at December 31, 2017 December 31, 2016 . Revenue Recognition – The Company will recognize revenue in accordance with ASC 605, 605 four 1 2 3 4 Net Loss Per Share – Basic net loss per share is computed by dividing the net loss applicable to comm on shareholders by the weighted average number of shares of common stock outstanding for the period. Diluted loss per share is computed by dividing the loss applicable to common shareholders by the weighted average number of common shares outstanding plus the number of additional common shares that would have been outstanding if all dilutive potential common shares had been issued, using the treasury stock method. Due to the Company’s losses in the periods presented, the Company currently has no

Note 2 - Going Concern

Note 2 - Going Concern	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Going Concern [Text Block]	NOTE 2 – GOING CONCERN CannaMED has not December 31, 2017, $39,084 $60,814. may The accompanying financial statements have been prepared assuming that the Company will continue as a going concern; however, the above condition raises sub stantial doubt about the Company’s ability to do so. The financial statements do not may In order to maintain its current level of operations, the Company will require additional working capital from either cash flow from operations, loans from officers, or from the sale o f its equity. However, the Company currently has no third

Note 3 - Recent Accounting Pron

Note 3 - Recent Accounting Pronouncements	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	NOTE 3 – RECENT ACCOUNTING PRONOUNCEMENTS In March 2016, tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The guidance is effective for annual periods beginning after December 15, 2016, In March 2016, cognition. The update clarifies the implementation guidance on principal versus agent considerations, including how an entity should identify the unit of accounting for the principal versus agent evaluation and how it should apply the control principle to certain types of arrangements. In April 2016, December 15, 2017, In February 2016, and lease liabilities on the balance sheet and by disclosing key information about leasing arrangements. The guidance is effective for fiscal years beginning after December 15, 2018, There are no of operations, or cash flows.

Note 4 - Prepaid Expenses

Note 4 - Prepaid Expenses	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Prepaid Expenses [Text Block]	NOTE 4 – PREPAID EXPENSES The Company had $2,500 $0 December 31, 2017 December 31, 2016, three months as services are rendered.

Note 5 - Current Liabilities

Note 5 - Current Liabilities	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Current Liabilities [Text Block]	NOTE 5 – CURRENT LIABILITIES Accrued Liabilities The Company had $1,080 $0 December 31, 2017 December 31, 2016, Related Party Payable Total related party payables were $ 40,504 $13,026, December 31, 2017 December 31, 2016, not

Note 6 - Stockholders' Deficit

Note 6 - Stockholders' Deficit	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	NOTE 6 – STOCKHOLDERS’ DEFICIT Preferred Stock - The Company is authorized to issue 20,000,000 $0.0001 no December 31, 2017 2016 . Common Stock - Common stock consists of $0.0001 100,000,000 December 31, 2017, 3,500,000 The current ownership struc ture is as follows: Common Shares Percent Mikhail Artamonov 3,000,000 86 % James McKillop 250,000 7 % James Cassidy 250,000 7 % 3,500,000 100 %

Note 7 - Contribution From Shar

Note 7 - Contribution From Shareholder	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Contribution from Shareholder [Text Block]	NOTE 7 – CONTRIBUTION FROM SHAREHOLDER Contributions were made to the company by its principal shareholder to pay for audit, accounting, and filing expenses totaling $ - 0 $14,412 December 31, 2017 December 31, 2016, not not

Note 8 - Commitments and Contin

Note 8 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE 8 – COMMITMENTS AND CONTINGENCIES Lease commitment The Company had no December 31, 2017 2016 .

Note 9 - Income Tax

Note 9 - Income Tax	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 9 – INCOME TAX The Company has not recognized an income tax benefit for its operating losses generated based on uncertainties concerning its ability to generate taxable income in future periods. The tax benefit for the period presented is offset by a valuation allowance established against deferred tax assets arising from the net operating losses, the realization of which could not not. not. The provision (benefit) for income taxes consists of the following for the years ended December 31, 2017 2016: December 31, 2017 201 6 Current U.S. $ 100 $ 100 Deferred U.S. — — Total $ — $ — A valuation allowance for the net deferred tax assets has been recorded as it is more likely than not not Deferred tax assets consist of the following as of December 31, 2017 2016: December 31, 2017 2016 Net operating loss carryforward $ (25,871 ) $ (14,786 ) general business tax credit — — Accrued expenses — — Other — — (25,871 ) (14,786 ) Valuation allowance 25,871 14,786 Total $ — $ — As of December 31, 2017 2016, $25,871 $14,786, 2037. The income tax provision effective rate of 0% 31% 2.7% 8.84% 42.5% years ended December 31, 2017 2016, $11,085 $9,662, December 31, 2017 201 6 Tax benefit at statutory federal rate $ (8,782 ) $ (7,654 ) State taxes, net of federal tax benefit (2,303 ) (2,008 ) Increase (decrease) in valuation allowance 11,085 9,662 Other — — Permanent Items — — General business tax credit — — Total $ — $ —

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation – The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). Intercompany accounts and transactions have been eliminated.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates – The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that may
Income Tax, Policy [Policy Text Block]	Income Taxes – CannaMED accounts for income taxes in accordance with ASC 740, ASC 740” not ASC 740 ’s financial statements. ASC 740 not not
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents – Cash and cash equ ivalents includes all highly liquid instruments with an original maturity of three December 31, 2017. not December 31, 2017 December 31, 2016 .
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration of Risk – Financial instrum ents 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 did not December 31, 2017 December 31, 2016 .
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instruments – The Company adopted ASC 820, 820 820 three hy for disclosures of fair value measurement and enhances disclosure requirements for fair value measures. The three ● Level 1 ● Level 2 ● Level 3 The carrying value of cash, accounts payables and accrued expenses approximates their fair values due to their short-term maturities at December 31, 2017 December 31, 2016 .
Revenue Recognition, Deferred Revenue [Policy Text Block]	Revenue Recognition – The Company will recognize revenue in accordance with ASC 605, 605 four 1 2 3 4
Earnings Per Share, Policy [Policy Text Block]	Net Loss Per Share – Basic net loss per share is computed by dividing the net loss applicable to comm on shareholders by the weighted average number of shares of common stock outstanding for the period. Diluted loss per share is computed by dividing the loss applicable to common shareholders by the weighted average number of common shares outstanding plus the number of additional common shares that would have been outstanding if all dilutive potential common shares had been issued, using the treasury stock method. Due to the Company’s losses in the periods presented, the Company currently has no

Note 6 - Stockholders' Deficit

Note 6 - Stockholders' Deficit (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Schedule of Other Ownership Interests [Table Text Block]	Common Shares Percent Mikhail Artamonov 3,000,000 86 % James McKillop 250,000 7 % James Cassidy 250,000 7 % 3,500,000 100 %

Note 9 - Income Tax (Tables)

Note 9 - Income Tax (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	December 31, 2017 201 6 Current U.S. $ 100 $ 100 Deferred U.S. — — Total $ — $ —
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	December 31, 2017 2016 Net operating loss carryforward $ (25,871 ) $ (14,786 ) general business tax credit — — Accrued expenses — — Other — — (25,871 ) (14,786 ) Valuation allowance 25,871 14,786 Total $ — $ —
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	December 31, 2017 201 6 Tax benefit at statutory federal rate $ (8,782 ) $ (7,654 ) State taxes, net of federal tax benefit (2,303 ) (2,008 ) Increase (decrease) in valuation allowance 11,085 9,662 Other — — Permanent Items — — General business tax credit — — Total $ — $ —

Note 1 - Basis of Presentatio19

Note 1 - Basis of Presentation and Organization (Details Textual) - USD ($)	Aug. 25, 2015	Aug. 24, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Equity Method Investment, Ownership Percentage			100.00%
Common Stock, Shares, Outstanding			3,500,000	3,500,000
Cash Equivalents, at Carrying Value			$ 0	$ 0
Cash, Uninsured Amount			$ 0	$ 0
Weighted Average Number Diluted Shares Outstanding Adjustment			0	0	0
Mikhail Artamonov [Member]
Stock Issued During Period, Shares, New Issues	3,000,000	19,500,000
Stock Issued During Period, Value, New Issues		$ 75,000
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Outstanding Stock Maximum		98.00%
Equity Method Investment, Ownership Percentage	86.00%	7.00%
Stock Redeemed or Called During Period, Shares		19,500,000
Common Stock, Shares, Outstanding	3,500,000	20,000,000
Sale of Stock, Price Per Share		$ 0.0001

Note 2 - Going Concern (Details

Note 2 - Going Concern (Details Textual) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Working Capital	$ (39,084)
Retained Earnings (Accumulated Deficit)	$ (60,814)	$ (34,756)

Note 4 - Prepaid Expenses (Deta

Note 4 - Prepaid Expenses (Details Textual) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Prepaid Expense	$ 2,500	$ 0

Note 5 - Current Liabilities (D

Note 5 - Current Liabilities (Details Textual) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Accounts Payable and Accrued Liabilities	$ 1,080	$ 0
Due to Related Parties	$ 40,504	$ 13,026

Note 6 - Stockholders' Defici23

Note 6 - Stockholders' Deficit (Details Textual) - $ / shares	Dec. 31, 2017	Dec. 31, 2016
Preferred Stock, Shares Authorized	20,000,000	20,000,000
Preferred Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Preferred Stock, Shares Issued	0	0
Common Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares, Issued	3,500,000	3,500,000

Note 6 - Stockholders' Defici24

Note 6 - Stockholders' Deficit - Ownership Structure (Details) - shares	Dec. 31, 2017	Dec. 31, 2016
Common stock, shares issued (in shares)	3,500,000	3,500,000
Percent	100.00%
Mikhail Artamonov [Member]
Common stock, shares issued (in shares)	3,000,000
Percent	86.00%
James Mckillop [Member]
Common stock, shares issued (in shares)	250,000
Percent	7.00%
James Cassidy [Member]
Common stock, shares issued (in shares)	250,000
Percent	7.00%

Note 7 - Contribution From Sh25

Note 7 - Contribution From Shareholder (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Proceeds from Contributions from Affiliates	$ 0	$ 14,412

Note 8 - Commitments and Cont26

Note 8 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Lease Commitments	$ 0	$ 0

Note 9 - Income Tax (Details Te

Note 9 - Income Tax (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Income Tax Expense (Benefit)	$ 0	$ 0
Operating Loss Carryforwards	$ 25,871	$ 14,786
Effective Income Tax Rate Reconciliation, Percent	0.00%	0.00%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	31.00%	31.00%
Effective Income Tax Rate Reconciliation, Federal Benefit of State Tax Deductions, Percent	2.70%	2.70%
Effective Income Tax Rate Reconciliation,Blended Tax Rate	42.50%	42.50%
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	$ 11,085	$ 9,662
California Franchise Tax Board [Member]
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent	8.84%	8.84%

Note 9 - Income Tax - Provision

Note 9 - Income Tax - Provision (Benefit) for Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Current	$ 100	$ 100
Deferred
Total	$ 0	$ 0

Note 9 - Income Tax - Deferred

Note 9 - Income Tax - Deferred Tax Assets (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Net operating loss carryforward	$ (25,871)	$ (14,786)
general business tax credit
Accrued expenses
Other
Net Operating Loss	(25,871)	(14,786)
Valuation allowance	25,871	14,786
Total

Note 9 - Income Tax - Effective

Note 9 - Income Tax - Effective Income Tax Rate Reconciliation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Tax benefit at statutory federal rate	$ (8,782)	$ (7,654)
State taxes, net of federal tax benefit	(2,303)	(2,008)
Increase (decrease) in valuation allowance	11,085	9,662
Other
Permanent Items
General business tax credit
Total	$ 0	$ 0