Visiber57 (VCOR) 10-Q 9 Jul 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	May 31, 2020	Jul. 09, 2020
Cover [Abstract]
Entity Registrant Name	VISIBER57 CORP.
Entity Central Index Key	0001627041
Document Type	10-Q
Document Period End Date	May 31, 2020
Amendment Flag	false
Current Fiscal Year End Date	--08-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	false
Entity Shell Company	true
Entity Common Stock, Shares Outstanding		13,200,000
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2020

Balance Sheets

Balance Sheets - USD ($)		May 31, 2020	Aug. 31, 2019
CURRENT ASSETS:
Prepaid expenses		$ 6,827	$ 14,330
Total Current Assets		6,827	14,330
TOTAL ASSETS		6,827	14,330
CURRENT LIABILITIES:
Accounts payable		2,684	3,800
Due to related party		263,265	232,000
Total Current Liabilities		265,949	235,800
TOTAL LIABILIITES		265,949	235,800
STOCKHOLDERS' DEFICIT:
Preferred stock, $0.0001 par value, authorized: 75,000,000 shares no shares issued and outstanding at May 31, 2020 and August 31, 2019
Common stock, $0.0001 par value, authorized: 425,000,000 shares 13,200,000 shares issued and outstanding at May 31, 2020 and August 31, 2019	[1]	1,320	1,320
Additional paid-in capital	[1]	23,180	23,180
Accumulated deficit		(283,622)	(245,970)
TOTAL STOCKHOLDERS' DEFICIT		(259,122)	(221,470)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT		$ 6,827	$ 14,330
[1]	Effective November 8, 2019, the Company affected a forward stock split, whereby each share of common stock issued and outstanding immediately prior to the effective time was automatically and without any action on the part of the respective holders thereof, split and converted into two and one half shares of common stock (the "2.5-for-1 Forward Stock Split"). The authorized number of shares and par value per share remained unchanged. The Company's prior period capital accounts have been retroactively stated to reflect the 2.5-for-1 Forward Stock Split.

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	May 31, 2020	Aug. 31, 2019
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	13,200,000	13,200,000
Common stock, shares outstanding	13,200,000	13,200,000

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)		3 Months Ended		9 Months Ended
		May 31, 2020	May 31, 2019	May 31, 2020	May 31, 2019
Income Statement [Abstract]
REVENUES
OPERATING EXPENSES:
Professional fees		5,735	12,296	23,135	40,634
General and administrative expense		4,836	4,602	14,517	13,614
Total Operating Expenses		10,571	16,898	37,652	54,248
LOSS BEFORE INCOME TAX		(10,571)	(16,898)	(37,652)	(54,248)
INCOME TAX EXPENSE
LOSS FROM CONTINUING OPERATIONS		(10,571)	(16,898)	(37,652)	(54,248)
NET LOSS		$ (10,571)	$ (16,898)	$ (37,652)	$ (54,248)
BASIC AND DILUTED LOSS PER COMMON SHARE:
Net loss per common shares - basic and diluted		$ 0	$ 0	$ 0	$ 0
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic and diluted	[1]	13,200,000	13,200,000	13,200,000	13,200,000
[1]	Effective November 8, 2019, the Company affected a forward stock split, whereby each share of common stock issued and outstanding immediately prior to the effective time was automatically and without any action on the part of the respective holders thereof, split and converted into two and one half shares of common stock (the "2.5-for-1 Forward Stock Split"). The authorized number of shares and par value per share remained unchanged. The Company's prior period capital accounts have been retroactively stated to reflect the 2.5-for-1 Forward Stock Split.

Statement of Changes in Stockho

Statement of Changes in Stockholders' Deficit (Unaudited) - USD ($)	Preferred Stock [Member]	Common Stock [Member]	[1]	Additional Paid-in Capital [Member]	[1]	Accumulated Deficit [Member]	Total
Balance at Aug. 31, 2018		$ 1,320		$ 23,180		$ (177,144)	$ (152,644)
Balance, shares at Aug. 31, 2018		13,200,000
Net loss						(23,237)	(23,237)
Balance at Nov. 30, 2018		$ 1,320		23,180		(200,381)	(175,881)
Balance, shares at Nov. 30, 2018		13,200,000
Balance at Aug. 31, 2018		$ 1,320		23,180		(177,144)	(152,644)
Balance, shares at Aug. 31, 2018		13,200,000
Net loss							(54,248)
Balance at May. 31, 2019		$ 1,320		23,180		(231,392)	(206,892)
Balance, shares at May. 31, 2019		13,200,000
Balance at Nov. 30, 2018		$ 1,320		23,180		(200,381)	(175,881)
Balance, shares at Nov. 30, 2018		13,200,000
Net loss						(14,113)	(14,113)
Balance at Feb. 28, 2019		$ 1,320		23,180		(214,494)	(189,994)
Balance, shares at Feb. 28, 2019		13,200,000
Net loss						(16,898)	(16,898)
Balance at May. 31, 2019		$ 1,320		23,180		(231,392)	(206,892)
Balance, shares at May. 31, 2019		13,200,000
Balance at Aug. 31, 2019		$ 1,320		23,180		(245,970)	(221,470)
Balance, shares at Aug. 31, 2019		13,200,000
Net loss						(17,206)	(17,206)
Balance at Nov. 30, 2019		$ 1,320		23,180		(263,176)	(238,676)
Balance, shares at Nov. 30, 2019		13,200,000
Balance at Aug. 31, 2019		$ 1,320		23,180		(245,970)	(221,470)
Balance, shares at Aug. 31, 2019		13,200,000
Net loss							(37,652)
Balance at May. 31, 2020		$ 1,320		23,180		(283,622)	(259,122)
Balance, shares at May. 31, 2020		13,200,000
Balance at Nov. 30, 2019		$ 1,320		23,180		(263,176)	(238,676)
Balance, shares at Nov. 30, 2019		13,200,000
Net loss						(9,875)	(9,875)
Balance at Feb. 29, 2020		$ 1,320		23,180		(273,051)	(248,551)
Balance, shares at Feb. 29, 2020		13,200,000
Net loss						(10,571)	(10,571)
Balance at May. 31, 2020		$ 1,320		$ 23,180		$ (283,622)	$ (259,122)
Balance, shares at May. 31, 2020		13,200,000
[1]	Effective November 8, 2019, the Company affected a forward stock split, whereby each share of common stock issued and outstanding immediately prior to the effective time was automatically and without any action on the part of the respective holders thereof, split and converted into two and one half shares of common stock (the "2.5-for-1 Forward Stock Split"). The authorized number of shares and par value per share remained unchanged. The Company's prior period capital accounts have been retroactively stated to reflect the 2.5-for-1 Forward Stock Split.

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended				9 Months Ended
	May 31, 2020	Nov. 30, 2019	May 31, 2019	Nov. 30, 2018	May 31, 2020	May 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (10,571)	$ (17,206)	$ (16,898)	$ (23,237)	$ (37,652)	$ (54,248)
Changes in operating assets and liabilities:
Prepaid expenses					8,752	13,326
Accounts payable					28,900	40,922
NET CASH USED IN OPERATING ACTIVITIES
NET DECREASE IN CASH
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					1,249	5,990
Operating expenses paid by related party					$ 30,016	$ 38,338

Organization and Nature of Oper

Organization and Nature of Operations	9 Months Ended
	May 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Operations	NOTE 1 ORGANIZATION AND NATURE OF OPERATIONS VISIBER57 Corp. (the “Company”), was incorporated in the State of Delaware on December 31, 2013 and established a fiscal year end of August 31. Effective on March 23, 2017, the Company changed its name to VISIBER57 CORP. and its trading symbol to “VCOR” effective April 11, 2017 in connection with its plan to expand its business and rebrand its identity. On September 18, 2019, the Company filed a Certificate of Amendment to its Certificate of Incorporation with the Delaware Secretary of State to implement a 2.5-for-1 forward stock split (the “Forward Stock Split”) of the Company’s issued and outstanding common stock, which became effective on November 8, 2019. Each one (1) share owned by a stockholder was exchanged for two-and-one-half (2.5) shares of common stock, and the number of shares of the Company’s common stock issued and outstanding was increased proportionately based on the Forward Stock Split. The number of authorized shares was not adjusted. All share and per share amounts in the accompanying financial statements for the prior period have been retroactively adjusted to reflect the Forward Stock Split.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	May 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 2 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 $37,652 and $54,248 for the nine months ended May 31, 2020 and 2019, respectively. The working capital deficit was $259,122 as of May 31, 2020. The net cash generated from operating activities was $0 for both nine months ended May 31, 2020 and 2019. 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. Use of estimates The preparation of the financial statements in conformity with generally accepted accounting principles 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 and the reported amounts of expenses during the reporting period. Actual results could differ from these estimates. Related party The Company follows ASC 850, Related Party Disclosures, for the identification of related parties and disclosure of related party transactions. Net loss per common share Basic net loss per common share is computed by dividing net loss by the weighted-average number of common shares outstanding during the period. Diluted net loss per share is computed similar to basic net loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. In periods where losses are reported, the weighted-average number of common stock outstanding excludes common stock equivalents, because their inclusion would be anti-dilutive. At May 31, 2020, there were no outstanding common share equivalents. Recent accounting pronouncements Management does not believe that any other recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying financial statements.

Related Party Transactions

Related Party Transactions	9 Months Ended
	May 31, 2020
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 3 – RELATED PARTY TRANSACTIONS During the nine months ended May 31, 2020 and 2019, 57 Society, a Company under the common control of Choong Jeng Hew, the Company’s Chief Executive Officer, paid $30,016 and $38,338, of operating expenses, respectively, and made $1,249 and $5,990 prepayment, respectively, on behalf of the Company. As of May 31, 2020 and August 31, 2019, the Company had an outstanding payable to 57 Society in the amount of $263,265 and $232,000, 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.

Common Stock

Common Stock	9 Months Ended
	May 31, 2020
Stockholders' Equity Note [Abstract]
Common Stock	NOTE 4 – COMMON STOCK On September 18, 2019, the Company filed a Certificate of Amendment to its Certificate of Incorporation with the Delaware Secretary of State to implement a 2.5-for-1 forward stock split (the “Forward Stock Split”) of the Company’s issued and outstanding common stock, which became effective on November 8, 2019. Each one (1) share owned by a stockholder was exchanged for two-and-one-half (2.5) shares of common stock, and the number of shares of the Company’s common stock issued and outstanding was increased proportionately based on the Forward Stock Split. The number of authorized shares was not adjusted. All share and per share amounts in the accompanying financial statements for the prior period have been retroactively adjusted to reflect the Forward Stock Split.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	May 31, 2020
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 $37,652 and $54,248 for the nine months ended May 31, 2020 and 2019, respectively. The working capital deficit was $259,122 as of May 31, 2020. The net cash generated from operating activities was $0 for both nine months ended May 31, 2020 and 2019. 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.
Use of Estimates	Use of estimates The preparation of the financial statements in conformity with generally accepted accounting principles 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 and the reported amounts of expenses during the reporting period. Actual results could differ from these estimates.
Related Party	Related party The Company follows ASC 850, Related Party Disclosures, for the identification of related parties and disclosure of related party transactions.
Net Loss Per Common Share	Net loss per common share Basic net loss per common share is computed by dividing net loss by the weighted-average number of common shares outstanding during the period. Diluted net loss per share is computed similar to basic net loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. In periods where losses are reported, the weighted-average number of common stock outstanding excludes common stock equivalents, because their inclusion would be anti-dilutive. At May 31, 2020, there were no outstanding common share equivalents.
Recent Accounting Pronouncements	Recent accounting pronouncements Management does not believe that any other recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying financial statements.

Organization and Nature of Op_2

Organization and Nature of Operations (Details Narrative)	Nov. 08, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Stock split, description	On September 18, 2019, the Company filed a Certificate of Amendment to its Certificate of Incorporation with the Delaware Secretary of State to implement a 2.5-for-1 forward stock split (the "Forward Stock Split") of the Company's issued and outstanding common stock, which became effective on November 8, 2019. Each one (1) share owned by a stockholder was exchanged for two-and-one-half (2.5) shares of common stock, and the number of shares of the Company's common stock issued and outstanding was increased proportionately based on the Forward Stock Split. The number of authorized shares was not adjusted. All share and per share amounts in the accompanying financial statements for the prior period have been retroactively adjusted to reflect the Forward Stock Split.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	3 Months Ended						9 Months Ended
	May 31, 2020	Feb. 29, 2020	Nov. 30, 2019	May 31, 2019	Feb. 28, 2019	Nov. 30, 2018	May 31, 2020	May 31, 2019
Accounting Policies [Abstract]
Net loss	$ (10,571)	$ (9,875)	$ (17,206)	$ (16,898)	$ (14,113)	$ (23,237)	$ (37,652)	$ (54,248)
Working capital	$ (259,122)						(259,122)
Net cash used in operating activities
Anti-dilutive ordinary shares

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	9 Months Ended
	May 31, 2020	May 31, 2019	Aug. 31, 2019
Prepayment made by related party	$ 1,249	$ 5,990
Due to related party	263,265		$ 232,000
57 Society International Limited [Member] | Choong Jeng Hew [Member]
Paid of related party expenses	$ 30,016	$ 38,338

Common Stock (Details Narrative

Common Stock (Details Narrative)	Nov. 08, 2019
Stockholders' Equity Note [Abstract]
Stock split, description	On September 18, 2019, the Company filed a Certificate of Amendment to its Certificate of Incorporation with the Delaware Secretary of State to implement a 2.5-for-1 forward stock split (the "Forward Stock Split") of the Company's issued and outstanding common stock, which became effective on November 8, 2019. Each one (1) share owned by a stockholder was exchanged for two-and-one-half (2.5) shares of common stock, and the number of shares of the Company's common stock issued and outstanding was increased proportionately based on the Forward Stock Split. The number of authorized shares was not adjusted. All share and per share amounts in the accompanying financial statements for the prior period have been retroactively adjusted to reflect the Forward Stock Split.