Document And Entity Information
Document And Entity Information - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Mar. 15, 2019 | Jun. 30, 2018 | |
Document Information [Line Items] | |||
Entity Registrant Name | CannaMED Enterprises, Inc. | ||
Entity Central Index Key | 0001623016 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | true | ||
Entity Common Stock, Shares Outstanding (in shares) | 3,500,000 | ||
Entity Public Float | $ 0 | ||
Entity Shell Company | true | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2018 | ||
Document Fiscal Year Focus | 2018 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Balance Sheets
Balance Sheets - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
ASSETS | ||
Prepaid expenses | $ 0 | $ 2,500 |
TOTAL ASSETS | 2,500 | |
LIABILITIES AND STOCKHOLDERS’ DEFICIT | ||
Accounts payable and accrued expenses | 1,500 | 1,080 |
Related party payable | 63,464 | 40,504 |
TOTAL LIABILITIES | 64,964 | 41,584 |
STOCKHOLDERS’ DEFICIT: | ||
Preferred stock, $0.0001 par value, 20,000,000 shares authorized, none issued and outstanding as of December 31, 2018 and December 31, 2017, respectively | ||
Common stock, $0.0001 par value, 100,000,000 shares authorized, 3,500,000 shares issued and outstanding as of December 31, 2018 and December 31, 2017 | 350 | 350 |
Discount on common stock | (350) | (350) |
Additional paid in capital | 21,730 | 21,730 |
Accumulated deficit | (86,694) | (60,814) |
Total Stockholders’ Deficit | (64,964) | (39,084) |
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT | $ 2,500 |
Balance Sheets (Parentheticals)
Balance Sheets (Parentheticals) - $ / shares | Dec. 31, 2018 | Dec. 31, 2017 |
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 |
Statements of Operations
Statements of Operations - USD ($) | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
REVENUES | ||||
COST OF REVENUES | ||||
GROSS PROFIT | ||||
Operating expenses | 3,850 | 3,330 | 25,880 | 26,058 |
TOTAL OPERATING EXPENSES | (3,850) | (3,330) | (25,880) | (26,058) |
LOSS FROM OPERATIONS | (3,850) | (3,330) | (25,880) | (26,058) |
LOSS BEFORE PROVISION FOR INCOME TAXES | (3,850) | (3,330) | (25,880) | (26,058) |
Provision for income taxes | 0 | 0 | 0 | |
NET LOSS | $ (3,850) | $ (3,330) | $ (25,880) | $ (26,058) |
NET LOSS PER SHARE OF COMMON STOCK - Basic and diluted (in dollars per share) | $ 0 | $ 0 | $ (0.01) | $ (0.01) |
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - Basic and diluted (in shares) | 3,500,000 | 3,500,000 | 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, 12/31/2016 (in shares) at Dec. 31, 2016 | 3,500,000 | ||||
Balance, 12/31/2016 at Dec. 31, 2016 | $ 350 | $ 21,730 | $ (350) | $ (34,756) | $ (13,026) |
Net loss | (26,058) | (26,058) | |||
Balance, 12/31/2017 (in shares) at Dec. 31, 2017 | 3,500,000 | ||||
Balance, 12/31/2017 at Dec. 31, 2017 | $ 350 | 21,730 | (350) | (60,814) | (39,084) |
Net loss | (25,880) | (25,880) | |||
Balance, 12/31/2017 (in shares) at Dec. 31, 2018 | 3,500,000 | ||||
Balance, 12/31/2017 at Dec. 31, 2018 | $ 350 | $ 21,730 | $ (350) | $ (86,694) | $ (64,964) |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
OPERATING ACTIVITIES: | ||
Net loss | $ (25,880) | $ (26,058) |
Changes in Operating Assets and Liabilities | ||
Prepaid expenses | 2,500 | (2,500) |
Accrued liabilities | 420 | 1,080 |
Net cash used in operating activities | (22,960) | (27,478) |
INVESTING ACTIVITIES: | ||
Net cash used in investing activities | ||
FINANCING ACTIVITIES: | ||
Proceeds from related party payable | 22,960 | 27,478 |
Proceeds from stockholders’ contribution | ||
Net cash provided by financing activities | 22,960 | 27,478 |
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, 2018 | |
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, 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 $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% 3,500,000 The Company envisions to initially enter into joint ventures or acquire partial 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, 740” not ASC 740 740 not not Cash and Cash Equivalents – Cash and cash equivalents includes all highly liquid instruments with an original maturity of three December 31, 2018. not December 31, 2018 December 31, 2017. 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 did not December 31, 2018 December 31, 2017. Fair Value of Financial Instruments – The Company adopted ASC 820, 820 820 three 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, 2018 December 31, 2017. Revenue Recognition – Effective January 1, 2018, 606, Revenue from Contracts with Customers, 606 606, five no Net Loss Per Share – Basic net loss per share is computed by dividing the net loss applicable to common 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, 2018 | |
Notes to Financial Statements | |
Going Concern [Text Block] | NOTE 2 CannaMED has not December 31, 2018, $64,964 $86,694. may The accompanying financial statements have been prepared assuming that the Company will continue as a going concern; however, the above condition raises substantial 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 of its equity. However, the Company currently has no third |
Note 3 - Recent Accounting Pron
Note 3 - Recent Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | NOTE 3 Management does not not |
Note 4 - Prepaid Expenses
Note 4 - Prepaid Expenses | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Prepaid Expenses [Text Block] | NOTE 4 PREPAID EXPENSES Total prepaid expenses were $0 $2,500, December 31, 2018 December 31, 2017, |
Note 5 - Accounts Payable
Note 5 - Accounts Payable | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | NOTE 5 Total accounts payable were $1,500 $1,080, December 31, 2018 December 31, 2017, not |
Note 6 - Related Party Payable
Note 6 - Related Party Payable | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 6 Total related party payables were $63,464 $40,504, December 31, 2018 December 31, 2017, not |
Note 7 - Stockholders' Deficit
Note 7 - Stockholders' Deficit | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 7 – STOCKHOLDERS’ DEFICIT Preferred Stock - 20,000,000 $0.0001 no December 31, 2018 2017. Common Stock - $0.0001 100,000,000 December 31, 2018, 3,500,000 The current ownership structure 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 8 - Contribution From Shar
Note 8 - Contribution From Shareholder | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Contribution from Shareholder [Text Block] | NOTE 8 – CONTRIBUTION FROM SHAREHOLDER Contributions were made to the company by its principal shareholder to pay for audit, accounting, and filing expenses total $21,730 December 31, 2017. not not |
Note 9 - Commitments and Contin
Note 9 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 9 – COMMITMENTS AND CONTINGENCIES Lease commitment The Company had no December 31, 2018 2017. |
Note 10 - Income Tax
Note 10 - Income Tax | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 10 – INCOME TAX The Company has not not not. not. The provision (benefit) for income taxes consists of the following for the years ended December 31, 2018 2017: December 31, 2018 2017 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, 2018 2017: December 31, 2018 2017 Net operating loss carryforward $ (28,213 ) $ (19,791 ) general business tax credit — — Accrued expenses — — Other — — (28,213 ) (19,791 ) Valuation allowance 28,213 19,791 Total $ — $ — As of December 31, 2018 2017, $28,213 $19,791, 2037. Federal tax rate changes from 31% 21% $6,081 December 31, 2017. The income tax provision effective rate of 0% 21% 2.7% 8.84% 32.5%. December 31, 2018 2017, $8,422 $8,480, December 31, 2018 2017 Tax benefit at statutory federal rate $ (6,134 ) $ (6,176 ) State taxes, net of federal tax benefit (2,288 ) (2,304 ) Increase (decrease) in valuation allowance 8,422 8,480 Other — — Permanent Items — — General business tax credit — — Total $ — $ — |
Note 11 - Subsequent Events
Note 11 - Subsequent Events | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 11 The Company has decided to file appropriate documents with the Securities and Exchange Commission to become a non-reporting company and expects to complete this process by March 31, 2019. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
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, 740” not ASC 740 740 not not |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents – Cash and cash equivalents includes all highly liquid instruments with an original maturity of three December 31, 2018. not December 31, 2018 December 31, 2017. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | 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 did not December 31, 2018 December 31, 2017. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments – The Company adopted ASC 820, 820 820 three 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, 2018 December 31, 2017. |
Revenue Recognition, Deferred Revenue [Policy Text Block] | Revenue Recognition – Effective January 1, 2018, 606, Revenue from Contracts with Customers, 606 606, five no |
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 common 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 7 - Stockholders' Deficit
Note 7 - Stockholders' Deficit (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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 10 - Income Tax (Tables)
Note 10 - Income Tax (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | December 31, 2018 2017 Current U.S. $ 100 $ 100 Deferred U.S. — — Total $ — $ — |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, 2018 2017 Net operating loss carryforward $ (28,213 ) $ (19,791 ) general business tax credit — — Accrued expenses — — Other — — (28,213 ) (19,791 ) Valuation allowance 28,213 19,791 Total $ — $ — |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | December 31, 2018 2017 Tax benefit at statutory federal rate $ (6,134 ) $ (6,176 ) State taxes, net of federal tax benefit (2,288 ) (2,304 ) Increase (decrease) in valuation allowance 8,422 8,480 Other — — Permanent Items — — General business tax credit — — Total $ — $ — |
Note 1 - Basis of Presentatio_2
Note 1 - Basis of Presentation and Organization (Details Textual) - USD ($) | Aug. 25, 2015 | Aug. 24, 2015 | Dec. 31, 2018 | Dec. 31, 2017 |
Equity Method Investment, Ownership Percentage | 100.00% | |||
Common Stock, Shares, Outstanding, Ending Balance | 3,500,000 | |||
Cash Equivalents, at Carrying Value, Total | $ 0 | $ 0 | ||
Cash, Uninsured Amount | $ 0 | $ 0 | ||
Weighted Average Number Diluted Shares Outstanding Adjustment, Total | 0 | 0 | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 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, Ending Balance | 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, 2018 | Dec. 31, 2017 |
Working Capital | $ (64,964) | |
Retained Earnings (Accumulated Deficit), Ending Balance | $ (86,694) | $ (60,814) |
Note 4 - Prepaid Expenses (Deta
Note 4 - Prepaid Expenses (Details Textual) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Prepaid Expense | $ 0 | $ 2,500 |
Note 5 - Accounts Payable (Deta
Note 5 - Accounts Payable (Details Textual) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Accounts Payable and Accrued Liabilities, Total | $ 1,500 | $ 1,080 |
Note 6 - Related Party Payable
Note 6 - Related Party Payable (Details Textual) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Due to Related Parties, Total | $ 63,464 | $ 40,504 |
Note 7 - Stockholders' Defici_2
Note 7 - Stockholders' Deficit (Details Textual) - $ / shares | Dec. 31, 2018 | Dec. 31, 2017 |
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, Total | 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, Total | 3,500,000 | 3,500,000 |
Note 7 - Stockholders' Defici_3
Note 7 - Stockholders' Deficit - Ownership Structure (Details) - shares | Dec. 31, 2018 | Dec. 31, 2017 |
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 8 - Contribution From Sh_2
Note 8 - Contribution From Shareholder (Details Textual) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Additional Paid in Capital, Ending Balance | $ 21,730 | $ 21,730 |
Note 9 - Commitments and Cont_2
Note 9 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Lease Commitments | $ 0 | $ 0 |
Note 10 - Income Tax (Details T
Note 10 - Income Tax (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Expense (Benefit), Total | $ 0 | $ 0 | $ 0 | |
Operating Loss Carryforwards, Total | $ 28,213 | $ 19,791 | $ 28,213 | $ 19,791 |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 31.00% | ||
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Net Operating Loss | $ 6,081 | |||
Effective Income Tax Rate Reconciliation, Percent, Total | 0.00% | |||
Effective Income Tax Rate Reconciliation, Federal Benefit of State Tax Deductions, Percent | 2.70% | |||
Effective Income Tax Rate Reconciliation, Blended Tax Rate | 32.50% | |||
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | $ 8,422 | $ 8,480 | ||
California Franchise Tax Board [Member] | ||||
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent | 8.84% |
Note 10 - Income Tax - Provisio
Note 10 - Income Tax - Provision (Benefit) for Income Taxes (Details) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Current | $ 100 | $ 100 | ||
Deferred | ||||
Total | $ 0 | $ 0 | $ 0 |
Note 10 - Income Tax - Deferred
Note 10 - Income Tax - Deferred Tax Assets (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Net operating loss carryforward | $ (28,213) | $ (19,791) |
general business tax credit | ||
Accrued expenses | ||
Other | ||
Net Operating Loss | (28,213) | (19,791) |
Valuation allowance | 28,213 | 19,791 |
Total |
Note 10 - Income Tax - Effectiv
Note 10 - Income Tax - Effective Income Tax Rate Reconciliation (Details) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Tax benefit at statutory federal rate | $ (6,134) | $ (6,176) | ||
State taxes, net of federal tax benefit | (2,288) | (2,304) | ||
Increase (decrease) in valuation allowance | 8,422 | 8,480 | ||
Other | ||||
Permanent Items | ||||
General business tax credit | ||||
Total | $ 0 | $ 0 | $ 0 |