Cover
Cover - shares | 6 Months Ended | |
Feb. 28, 2022 | Apr. 13, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Feb. 28, 2022 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2022 | |
Current Fiscal Year End Date | --08-31 | |
Entity File Number | 000-55570 | |
Entity Registrant Name | VISIBER57 CORP. | |
Entity Central Index Key | 0001627041 | |
Entity Tax Identification Number | 61-1633330 | |
Entity Incorporation, State or Country Code | DE | |
Entity Address, Address Line One | No. 104-2F, Section 1 | |
Entity Address, Address Line Two | Yanping North Road | |
Entity Address, Address Line Three | Datong District | |
Entity Address, City or Town | Taipei City | |
Entity Address, Country | TW | |
Entity Address, Postal Zip Code | 10341 | |
City Area Code | 886 | |
Local Phone Number | 285012196 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | true | |
Entity Common Stock, Shares Outstanding | 7,000,000 |
Balance Sheets
Balance Sheets - USD ($) | Feb. 28, 2022 | Aug. 31, 2021 |
CURRENT ASSETS: | ||
Prepaid expenses | $ 8,167 | $ 1,247 |
Total Current Assets | 8,167 | 1,247 |
TOTAL ASSETS | 8,167 | 1,247 |
CURRENT LIABILITIES: | ||
Accounts payable | 9,542 | 2,942 |
Due to related party | 328,757 | 303,678 |
Total Current Liabilities | 338,299 | 306,620 |
TOTAL LIABILITIES | 338,299 | 306,620 |
STOCKHOLDERS’ DEFICIT: | ||
Preferred Stock Value | ||
Common stock, $0.0001 par value, 425,000,000 shares authorized, 7,000,000 shares issued and outstanding at February 28, 2022 and August 31, 2021 | 700 | 700 |
Additional paid-in capital | 23,800 | 23,800 |
Accumulated deficit | (354,632) | (329,873) |
TOTAL STOCKHOLDERS’ DEFICIT | (330,132) | (305,373) |
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT | 8,167 | 1,247 |
Series A Preferred Stock [Member] | ||
STOCKHOLDERS’ DEFICIT: | ||
Preferred Stock Value | $ 0 | $ 0 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Feb. 28, 2022 | Aug. 31, 2021 |
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 75,000,000 | 75,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 425,000,000 | 425,000,000 |
Common stock, shares issued | 7,000,000 | 7,000,000 |
Common stock, shares outstanding | 7,000,000 | 7,000,000 |
Series A Preferred Stock [Member] | ||
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares issued | 1 | 1 |
Preferred stock, shares outstanding | 1 | 1 |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Feb. 28, 2022 | Feb. 28, 2021 | Feb. 28, 2022 | Feb. 28, 2021 | |
OPERATING EXPENSES: | ||||
Professional fees | $ 11,300 | $ 300 | $ 15,600 | $ 8,100 |
General and administrative expense | 4,557 | 4,096 | 9,159 | 8,798 |
Total Operating Expenses | 15,857 | 4,396 | 24,759 | 16,898 |
LOSS BEFORE INCOME TAX | (15,857) | (4,396) | (24,759) | (16,898) |
INCOME TAX EXPENSE | ||||
NET LOSS | $ (15,857) | $ (4,396) | $ (24,759) | $ (16,898) |
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 | 7,000,000 | 13,200,000 | 7,000,000 | 13,200,000 |
Statement of Changes in Stockho
Statement of Changes in Stockholders' Deficit (Unaudited) - USD ($) | Preferred Stock [Member]Series A Preferred Stock [Member] | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Aug. 31, 2020 | $ 1,320 | $ 23,180 | $ (293,458) | $ (268,958) | ||
Beginning balance, shares at Aug. 31, 2020 | 13,200,000 | |||||
Net loss | (12,502) | (12,502) | ||||
Ending balance, value at Nov. 30, 2020 | $ 1,320 | 23,180 | (305,960) | (281,460) | ||
Ending balance, shares at Nov. 30, 2020 | 13,200,000 | |||||
Beginning balance, value at Aug. 31, 2020 | $ 1,320 | 23,180 | (293,458) | (268,958) | ||
Beginning balance, shares at Aug. 31, 2020 | 13,200,000 | |||||
Net loss | (16,898) | |||||
Ending balance, value at Feb. 28, 2021 | $ 1,320 | 23,180 | (310,356) | (285,856) | ||
Ending balance, shares at Feb. 28, 2021 | 13,200,000 | |||||
Beginning balance, value at Nov. 30, 2020 | $ 1,320 | 23,180 | (305,960) | (281,460) | ||
Beginning balance, shares at Nov. 30, 2020 | 13,200,000 | |||||
Net loss | (4,396) | (4,396) | ||||
Ending balance, value at Feb. 28, 2021 | $ 1,320 | 23,180 | (310,356) | (285,856) | ||
Ending balance, shares at Feb. 28, 2021 | 13,200,000 | |||||
Beginning balance, value at Aug. 31, 2021 | $ 0 | $ 700 | 23,800 | (329,873) | (305,373) | |
Beginning balance, shares at Aug. 31, 2021 | 1 | 7,000,000 | ||||
Net loss | (8,902) | (8,902) | ||||
Ending balance, value at Nov. 30, 2021 | $ 0 | $ 700 | 23,800 | (338,775) | (314,275) | |
Ending balance, shares at Nov. 30, 2021 | 1 | 7,000,000 | ||||
Beginning balance, value at Aug. 31, 2021 | $ 0 | $ 700 | 23,800 | (329,873) | (305,373) | |
Beginning balance, shares at Aug. 31, 2021 | 1 | 7,000,000 | ||||
Net loss | (24,759) | |||||
Ending balance, value at Feb. 28, 2022 | $ 0 | $ 700 | 23,800 | (354,632) | (330,132) | |
Ending balance, shares at Feb. 28, 2022 | 1 | 7,000,000 | ||||
Beginning balance, value at Nov. 30, 2021 | $ 0 | $ 700 | 23,800 | (338,775) | (314,275) | |
Beginning balance, shares at Nov. 30, 2021 | 1 | 7,000,000 | ||||
Net loss | (15,857) | (15,857) | ||||
Ending balance, value at Feb. 28, 2022 | $ 0 | $ 700 | $ 23,800 | $ (354,632) | $ (330,132) | |
Ending balance, shares at Feb. 28, 2022 | 1 | 7,000,000 |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Feb. 28, 2022 | Nov. 30, 2021 | Feb. 28, 2021 | Nov. 30, 2020 | Feb. 28, 2022 | Feb. 28, 2021 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||
Net loss | $ (15,857) | $ (8,902) | $ (4,396) | $ (12,502) | $ (24,759) | $ (16,898) |
Changes in operating assets and liabilities: | ||||||
Prepaid expenses | 1,247 | 8,746 | ||||
Accounts payable | 23,512 | 8,152 | ||||
NET CASH USED IN OPERATING ACTIVITIES | ||||||
NET DECREASE IN CASH AND CASH EQUIVALENTS | ||||||
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 TRANSACTION | ||||||
Prepayment made by related party | 8,167 | 14,995 | ||||
Operating expenses paid by related party | $ 16,912 | $ 8,357 |
ORGANIZATION AND NATURE OF OPER
ORGANIZATION AND NATURE OF OPERATIONS | 6 Months Ended |
Feb. 28, 2022 | |
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. The Company was engaged in the electronic management and appointment of licensed producers in the insurance industry of the United States. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Feb. 28, 2022 | |
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 (“US GAAP”) and the rules and regulations of the United States Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s most recent Annual Financial Statements filed with the SEC on Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim period presented have been reflected herein. The results of operations for the interim period are not necessarily indicative of the resultsto be expected for the full year. 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 $ 24,759 16,898 330,132 0 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. VISIBER57 CORP. Notes to Unaudited Financial Statements February 28, 2022 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 February 28, 2022, there were no 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 | 6 Months Ended |
Feb. 28, 2022 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 3 – RELATED PARTY TRANSACTIONS During the six months ended February 28, 2022 and 2021, 57 Society, a Company under the common control of Choong Jeng Hew, the Company’s Chief Executive Officer, paid $ 16,912 8,357 8,167 14,995 328,757 303,678 The Company’s principal executive offices in Taiwan, which it shares with its controlling shareholder, 57 Society, are furnished to the Company by 57 Society without any charge. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 6 Months Ended |
Feb. 28, 2022 | |
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 (“US GAAP”) and the rules and regulations of the United States Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s most recent Annual Financial Statements filed with the SEC on Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim period presented have been reflected herein. The results of operations for the interim period are not necessarily indicative of the resultsto be expected for the full year. |
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 $ 24,759 16,898 330,132 0 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. VISIBER57 CORP. Notes to Unaudited Financial Statements February 28, 2022 |
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 February 28, 2022, there were no |
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. |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Feb. 28, 2022 | Nov. 30, 2021 | Feb. 28, 2021 | Nov. 30, 2020 | Feb. 28, 2022 | Feb. 28, 2021 | |
Accounting Policies [Abstract] | ||||||
Net loss | $ 15,857 | $ 8,902 | $ 4,396 | $ 12,502 | $ 24,759 | $ 16,898 |
Working capital deficit | $ 330,132 | 330,132 | ||||
Net cash generated from operating activities | ||||||
Anti-dilutive ordinary shares | 0 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 6 Months Ended | ||
Feb. 28, 2022 | Feb. 28, 2021 | Aug. 31, 2021 | |
Related Party Transaction [Line Items] | |||
Due to related party | $ 328,757 | $ 303,678 | |
57 Society International Limited ("57 Society") [Member] | |||
Related Party Transaction [Line Items] | |||
Paid of related party expenses | 16,912 | $ 8,357 | |
Prepayment made by related party | 8,167 | $ 14,995 | |
Due to related party | $ 328,757 | $ 303,678 |