Visiber57 (VCOR) 10-Q 12 Jul 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	May 31, 2019	Jul. 12, 2019
Document And Entity Information
Entity Registrant Name	VISIBER57 CORP.
Entity Central Index Key	0001627041
Document Type	10-Q
Document Period End Date	May 31, 2019
Amendment Flag	false
Current Fiscal Year End Date	--08-31
Entity Reporting Status Current	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	true
Entity Common Stock, Shares Outstanding		5,280,000
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2019

Balance Sheets

Balance Sheets - USD ($)	May 31, 2019	Aug. 31, 2018
CURRENT ASSETS:
Prepaid expenses	$ 6,827	$ 14,163
Total Current Assets	6,827	14,163
TOTAL ASSETS	6,827	14,163
CURRENT LIABILITIES:
Accounts payable	5,784	3,200
Due to related party	207,935	163,607
Total Current Liabilities	213,719	166,807
TOTAL LIABILITIES	213,719	166,807
STOCKHOLDERS' DEFICIT:
Preferred stock, $0.0001 par value, authorized: 75,000,000 shares no shares issued and outstanding at May 31, 2019 and August 31, 2018
Common stock, $0.0001 par value, authorized: 425,000,000 shares 5,280,000 shares issued and outstanding at May 31, 2019 and August 31, 2018	528	528
Additional paid-in capital	23,972	23,972
Accumulated deficit	(231,392)	(177,144)
TOTAL STOCKHOLDERS' DEFICIT	(206,892)	(152,644)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 6,827	$ 14,163

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	May 31, 2019	Aug. 31, 2018
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	75,000,000	75,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	425,000,000	425,000,000
Common stock, shares issued	5,280,000	5,280,000
Common stock, shares outstanding	5,280,000	5,280,000

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	May 31, 2019	May 31, 2018	May 31, 2019	May 31, 2018
OPERATING EXPENSES:
Professional fees	$ 12,296	$ 14,300	$ 40,634	$ 47,400
General and administrative expense	4,602	4,114	13,614	12,681
Total Operating Expenses	16,898	18,414	54,248	60,081
LOSS BEFORE INCOME TAX	(16,898)	(18,414)	(54,248)	(60,081)
INCOME TAX EXPENSE
NET LOSS	$ (16,898)	$ (18,414)	$ (54,248)	$ (60,081)
BASIC AND DILUTED LOSS PER COMMON SHARE:
Net loss per common shares - basic and diluted	$ 0	$ 0	$ (0.01)	$ (0.01)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic and diluted	5,280,000	5,280,000	5,280,000	5,280,000

Statement of Changes in Stockho

Statement of Changes in Stockholders' Deficit (Unaudited) - USD ($)	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Total
Balance at Aug. 31, 2017		$ 528	$ 23,972	$ (99,734)	$ (75,234)
Balance, shares at Aug. 31, 2017		5,280,000
Net loss				(22,055)	(22,055)
Balance at Nov. 30, 2017		$ 528	23,972	(121,789)	(97,289)
Balance, shares at Nov. 30, 2017		5,280,000
Balance at Aug. 31, 2017		$ 528	23,972	(99,734)	(75,234)
Balance, shares at Aug. 31, 2017		5,280,000
Net loss					(60,081)
Balance at May. 31, 2018		$ 528	23,972	(159,815)	(135,315)
Balance, shares at May. 31, 2018		5,280,000
Balance at Nov. 30, 2017		$ 528	23,972	(121,789)	(97,289)
Balance, shares at Nov. 30, 2017		5,280,000
Net loss				(19,612)	(19,612)
Balance at Feb. 28, 2018		$ 528	23,972	(141,401)	(116,901)
Balance, shares at Feb. 28, 2018		5,280,000
Net loss				(18,414)	(18,414)
Balance at May. 31, 2018		$ 528	23,972	(159,815)	(135,315)
Balance, shares at May. 31, 2018		5,280,000
Balance at Aug. 31, 2018		$ 528	23,972	(177,144)	(152,644)
Balance, shares at Aug. 31, 2018		5,280,000
Net loss				(23,237)	(23,237)
Balance at Nov. 30, 2018		$ 528	23,972	(200,381)	(175,881)
Balance, shares at Nov. 30, 2018		5,280,000
Balance at Aug. 31, 2018		$ 528	23,972	(177,144)	(152,644)
Balance, shares at Aug. 31, 2018		5,280,000
Net loss					(54,248)
Balance at May. 31, 2019		$ 528	23,972	(231,392)	(206,892)
Balance, shares at May. 31, 2019		5,280,000
Balance at Nov. 30, 2018		$ 528	23,972	(200,381)	(175,881)
Balance, shares at Nov. 30, 2018		5,280,000
Net loss				(14,113)	(14,113)
Balance at Feb. 28, 2019		$ 528	23,972	(214,494)	(189,994)
Balance, shares at Feb. 28, 2019		5,280,000
Net loss				(16,898)	(16,898)
Balance at May. 31, 2019		$ 528	$ 23,972	$ (231,392)	$ (206,892)
Balance, shares at May. 31, 2019		5,280,000

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended				9 Months Ended
	May 31, 2019	Nov. 30, 2018	May 31, 2018	Nov. 30, 2017	May 31, 2019	May 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (16,898)	$ (23,237)	$ (18,414)	$ (22,055)	$ (54,248)	$ (60,081)
Changes in operating assets and liabilities:
Prepaid expenses					13,326	11,559
Accounts payable					40,922	48,522
NET CASH USED IN OPERATING ACTIVITIES					0	0
NET DECREASE IN CASH AND CASH EQUIVALENTS					0	0
CASH AND CASH EQUIVALENTS - beginning of period
CASH AND CASH EQUIVALENTS - end of period
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest
Income taxes
NON-CASH TRANSACTIONS:
Prepayment made by related party					5,990	15,990
Operating expenses paid by related party					$ 38,338	$ 48,307

Organization and Nature of Oper

Organization and Nature of Operations	9 Months Ended
	May 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Operations	NOTE 1 ORGANIZATION AND NATURE OF OPERATIONS VISIBER57 Corp. (referred to herein as “we,” “our,” “us” or the “Company”), was incorporated in the State of Delaware on December 31, 2013 under the name “eBizware.com, Inc.” and established a fiscal year end of August 31. The Company was engaged in the electronic management and appointment of licensed producers in the insurance industry of the United States. On August 12, 2016, in connection with the sale of a controlling interest in the Company, Mark W. DeFoor (the “Seller”), the Company’s then Chief Executive Officer and Director entered into and closed on a Share Purchase Agreement (the “Agreement”) with 57 Society International Limited, (“57 Society,”) a Hong Kong company, whereby 57 Society purchased from the Seller a total of 5,000,000 shares of the Company’s common stock. The shares acquired represented approximately 94.70% of the then issued and outstanding shares of common stock of the Company. Following the closing of the Agreement, Mark W. DeFoor resigned from all positions held with the Company and Choong Jeng Hew was appointed as the Chief Executive Officer and President of the Company. The Company then ceased its activities in the electronic management and appointment of licensed producers in the insurance industry and abandoned that business model. On March 23, 2017, the Company filed a Certificate of Amendment to its Certificate of Incorporation with the Delaware Secretary of State to change its name to VISIBER57 CORP. and its trading symbol to “VCOR” with an effective date of April 11, 2017 in order to expand its business and rebrand its identity. The Company is currently seeking new business opportunities or acquisitions.

Basis of Presentation, Going Co

Basis of Presentation, Going Concern and Summary of Significant Accounting Policies	9 Months Ended
	May 31, 2019
Accounting Policies [Abstract]
Basis of Presentation, Going Concern and Summary of Significant Accounting Policies	NOTE 2 BASIS OF PRESENTATION, GOING CONCERN AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules and regulations of the United States Securities and Exchange Commission. Going concern These unaudited financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates, among other things, the realization of assets and the satisfaction of liabilities in the normal course of business. As reflected in the accompanying unaudited financial statements, the Company had a net loss of $54,248 and $60,081 for the nine months ended May 31, 2019 and 2018, respectively. The working capital deficit was $206,892 as of May 31, 2019. The net cash generated from operating activities was $0 for both nine months ended May 31, 2019 and 2018. These factors raise substantial doubt about the Company’s ability to continue as a going concern for twelve months from the issuance of this report. Management cannot provide assurance that the Company will ultimately achieve profitable operations or become cash flow positive, or raise additional debt and/or equity capital. The Company is seeking to raise capital through additional debt and/or equity financings to fund its operations in the future. Although the Company has historically raised capital from sales of equity, from related party working capital advances, and from the issuance of promissory notes, there is no assurance that it will be able to continue to do so. If the Company is unable to raise additional capital or secure additional lending in the near future, management expects that the Company will need to curtail its operations. These unaudited financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

Related Party Transactions

Related Party Transactions	9 Months Ended
	May 31, 2019
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 3 – RELATED PARTY TRANSACTIONS During the nine months ended May 31, 2019 and 2018, 57 Society, a Company under the common control of Choong Jeng Hew, the Company’s Chief Executive Officer, paid $38,338 and $48,307, of operating expenses, respectively, and made $5,990 and $15,990 prepayment, respectively, on behalf of the Company. As of May 31, 2019 and August 31, 2018, the Company had an outstanding payable to 57 Society in the amount of $207,935 and $163,607, respectively. The payable is unsecured, does not bear interest and is due on demand. The Company’s principal executive offices in Hong Kong, which it shares with its controlling shareholder, 57 Society, are furnished to the Company by 57 Society without any charge.

Basis of Presentation, Going _2

Basis of Presentation, Going Concern and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	May 31, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of presentation The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules and regulations of the United States Securities and Exchange Commission.
Going Concern	Going concern These unaudited financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates, among other things, the realization of assets and the satisfaction of liabilities in the normal course of business. As reflected in the accompanying unaudited financial statements, the Company had a net loss of $54,248 and $60,081 for the nine months ended May 31, 2019 and 2018, respectively. The working capital deficit was $206,892 as of May 31, 2019. The net cash generated from operating activities was $0 for both nine months ended May 31, 2019 and 2018. These factors raise substantial doubt about the Company’s ability to continue as a going concern for twelve months from the issuance of this report. Management cannot provide assurance that the Company will ultimately achieve profitable operations or become cash flow positive, or raise additional debt and/or equity capital. The Company is seeking to raise capital through additional debt and/or equity financings to fund its operations in the future. Although the Company has historically raised capital from sales of equity, from related party working capital advances, and from the issuance of promissory notes, there is no assurance that it will be able to continue to do so. If the Company is unable to raise additional capital or secure additional lending in the near future, management expects that the Company will need to curtail its operations. These unaudited financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

Organization and Nature of Op_2

Organization and Nature of Operations (Details Narrative) - Mark W. DeFoor [Member] - Share Purchase Agreement [Member]	Aug. 12, 2016shares
Number of shares issued	5,000,000
Shares acquired percentage	94.70%

Basis of Presentation, Going _3

Basis of Presentation, Going Concern and Summary of Significant Accounting Policies (Details Narrative) - USD ($)	3 Months Ended						9 Months Ended
	May 31, 2019	Feb. 28, 2019	Nov. 30, 2018	May 31, 2018	Feb. 28, 2018	Nov. 30, 2017	May 31, 2019	May 31, 2018
Accounting Policies [Abstract]
Net loss	$ (16,898)	$ (14,113)	$ (23,237)	$ (18,414)	$ (19,612)	$ (22,055)	$ (54,248)	$ (60,081)
Working capital deficit	$ 206,892						206,892
Net cash used in operating activities							$ 0	$ 0

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	9 Months Ended
	May 31, 2019	May 31, 2018	Aug. 31, 2018
Prepayment made by related party	$ 5,990	$ 15,990
Due to related party	207,935		$ 163,607
57 Society [Member] | Choong Jeng Hew [Member]
Paid of related party expenses	38,338	48,307
Prepayment made by related party	$ 5,990	$ 15,990