Wari 10-Q 18 Jul 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	May 31, 2019	Jul. 12, 2019
Document And Entity Information
Entity Registrant Name	WARI, INC.
Entity Central Index Key	0001637197
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--11-30
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Current Reporting Status	Yes
Document Period End Date	May 31, 2019
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2019
Entity Shell Company	false
Entity Ex Transition Period	false
Entity Common Stock Shares Outstanding		20,691,050

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)	May 31, 2019	Nov. 30, 2018
Condensed Balance Sheets
ASSETS
Current Assets
Cash
Total Current Assets
TOTAL ASSETS
Current Liabilities
Accounts payable	16,500
Due to a related party	173,308	94,889
Total Current Liabilities	189,808	94,889
Stockholders' Deficit
Preferred stock: 100,000,000 authorized; $0.001 par value No shares issued and outstanding
Common stock: 900,000,000 authorized; $0.001 par value 20,691,050 shares issued and outstanding at May 31, 2019 and November 2018, respectively	20,691	20,691
Additional paid in capital	147,805	147,805
Accumulated deficit	(358,304)	(263,385)
Total Stockholders' Deficit	(189,808)	(94,889)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	May 31, 2019	Nov. 30, 2018
Stockholders' Deficit
Preferred stock, shares authorized	100,000,000	100,000,000
Preferred stock, shares par value	$ 0.001	$ 0.001
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, shares authorized	900,000,000	900,000,000
Common stock, shares par value	$ 0.001	$ 0.001
Common stock, shares issued	20,691,050	20,691,050
Common stock, shares outstanding	20,691,050	20,691,050

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	May 31, 2019	May 31, 2018	May 31, 2019	May 31, 2018
Operating Expenses
General and administrative	$ 21,379	$ 6	$ 21,379	$ 11
Professional fees	48,590	12,250	73,540	25,575
Total Operating Expenses	69,969	12,256	94,919	25,586
Net loss	$ (69,969)	$ (12,256)	$ (94,919)	$ (25,586)
Basic and dilutive loss per common share	$ 0	$ 0	$ 0	$ 0
Weighted average number of common shares outstanding	20,691,050	20,691,050	20,691,050	20,638,165

Condensed Statements of Changes

Condensed Statements of Changes in Stockholders Equity (Deficit) (Unaudited) - USD ($)	Common Stock	Additional Paid in Capital	Accumulated Deficit
Common shares issued for cash, shares	125,000
Common shares issued for cash, amount	$ 125	$ 24,895
Balance - shares at Nov. 30, 2017	20,566,050
Balance - amount at Nov. 30, 2017	$ 20,566	122,910	(143,900)
Net loss			(13,330)
Balance - shares at Feb. 28, 2018	20,691,050
Balance - amount at Feb. 28, 2018	$ 20,691	147,805	(157,230)
Balance - shares at Nov. 30, 2017	20,566,050
Balance - amount at Nov. 30, 2017	$ 20,566	122,910	(143,900)
Balance - shares at May. 31, 2018	20,691,050
Balance - amount at May. 31, 2018	$ 20,691	147,805	(169,486)
Balance - shares at Feb. 28, 2018	20,691,050
Balance - amount at Feb. 28, 2018	$ 20,691	147,805	(157,230)
Net loss			(12,256)
Balance - shares at May. 31, 2018	20,691,050
Balance - amount at May. 31, 2018	$ 20,691	147,805	(169,486)
Balance - shares at Nov. 30, 2018	20,691,050
Balance - amount at Nov. 30, 2018	$ 20,691	147,805	(263,385)
Net loss			(24,950)
Balance - shares at Feb. 28, 2019	20,691,050
Balance - amount at Feb. 28, 2019	$ 20,691	147,805	(288,335)
Balance - shares at Nov. 30, 2018	20,691,050
Balance - amount at Nov. 30, 2018	$ 20,691	147,805	(263,385)
Balance - shares at May. 31, 2019	20,691,050
Balance - amount at May. 31, 2019	$ 20,691	147,805	(358,304)
Balance - shares at Feb. 28, 2019	20,691,050
Balance - amount at Feb. 28, 2019	$ 20,691	147,805	(288,335)
Net loss			(69,969)
Balance - shares at May. 31, 2019	20,691,050
Balance - amount at May. 31, 2019	$ 20,691	$ 147,805	$ (358,304)

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	May 31, 2019	May 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (94,919)	$ (25,586)
Changes in operating assets and liabilities:
Accounts payable	16,500	1,057
Net Cash used in Operating Activities	(78,419)	(24,529)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from loan from related party	78,419
Proceeds from issuance of common stock		25,020
Net Cash provided by Financing Activities	78,419	25,020
Net change in cash		491
Cash, beginning of period		1,673
Cash, end of period		$ 2,164

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	6 Months Ended
	May 31, 2019
ORGANIZATION AND DESCRIPTION OF BUSINESS
NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS	Wari, Inc., (the “Company”, “we”, “us”, “our”) is a Nevada corporation incorporated on June 27, 2014. Its office is based in Washington, D.C. The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America (“GAAP”), and the Company’s fiscal year end is November 30. We are currently seeking new business opportunities with established business entities for merger with or acquisition of a target business. We are currently a shell company.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	May 31, 2019
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Basis of Presentation The accompanying unaudited condensed financial statements have been prepared in accordance with GAAP in the United States of America for interim financial information and Article 8 of Regulation S-X. Accordingly, the financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. This report on Form 10-Q should be read in conjunction with the Company’s audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K, for the fiscal year ended November 30, 2018, as filed with the Securities and Exchange Commission (“SEC”) on May 14, 2019. In the opinion of management, the unaudited condensed financial statements included herein contain all adjustments necessary to present fairly the Company’s financial position and results of its operations and cash flows for the interim periods presented. Such adjustments are of a normal recurring nature. The results of operations for the three and six months May 31, 2019 may not be indicative of results for the full year. Emerging Growth Company We qualify as an “emerging growth company” under the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Section 107 of the JOBS Act provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act of 1933 as amended (the “Securities Act”) for complying with new or revised accounting standards. As an emerging growth company, we can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected to take advantage of the benefits of this extended transition period. Use of Estimates The preparation of the unaudited condensed financial statements in conformity with GAAP 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. The estimates and judgments will also affect the reported amounts for certain revenues and expenses during the reporting period. Actual results could differ from these good faith estimates and judgments. Net Loss Per Share Basic net loss per share excludes the effect of dilution and is computed by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding. Diluted net loss per share is computed by giving effect to all potential shares of common stock. For the three and six months ended May 31, 2019 and 2018, there were no common stock equivalents outstanding. In periods in which a net loss has been incurred, all potentially dilutive common shares are considered anti-dilutive and thus are excluded from the calculation. Recent Accounting Pronouncements Management has considered all recent accounting pronouncements issued. The Company’s management believes that these recent pronouncements will not have a material effect on the Company’s financial statements.

GOING CONCERN

GOING CONCERN	6 Months Ended
	May 31, 2019
GOING CONCERN
NOTE 3 - GOING CONCERN	The accompanying unaudited condensed financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. As of May 31, 2019, the Company has a loss from operations of $94,919, and an accumulated deficit of $358,304. The Company is seeking a new business opportunity at this time. If and when it acquires such an opportunity, it might be required to fund operations through equity financing arrangements, which may be insufficient to fund its capital expenditures, working capital and other cash requirements for the period of 12 months from the issuance of those financial statements. The ability of the Company to emerge from a shell is dependent upon, among other things, securing assets and/or a business, by merger or acquisition, as to which there can be no assurance. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying unaudited condensed financial statements do not include any adjustments that might result from the outcome of this uncertainty.

EQUITY

EQUITY	6 Months Ended
	May 31, 2019
EQUITY
NOTE 4 - EQUITY	During the six months ended May 31, 2018, the Company issued 125,000 shares of common stock for $25,000.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	May 31, 2019
RELATED PARTY TRANSACTIONS
NOTE 5 - RELATED PARTY TRANSACTIONS	We currently have no written or oral agreement from our majority shareholder to continue to provide financial contributions. The officer and director of the Company may be involved in other business activities and may, in the future, become involved in other business opportunities that become available. He may face a conflict in selecting between the Company and other business interests. The Company has not formulated a policy for the resolution of such conflicts. During the six months ended May 31, 2019, the Company borrowed $78,419 from the CEO of the Company. The advance was non-interest bearing and due on demand. As of May 31, 2019, and November 30, 2018, the Company had due to a related party of $173,308 and $94,889, respectively.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	May 31, 2019
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
Basis of Presentation	The accompanying unaudited condensed financial statements have been prepared in accordance with GAAP in the United States of America for interim financial information and Article 8 of Regulation S-X. Accordingly, the financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. This report on Form 10-Q should be read in conjunction with the Company’s audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K, for the fiscal year ended November 30, 2018, as filed with the Securities and Exchange Commission (“SEC”) on May 14, 2019. In the opinion of management, the unaudited condensed financial statements included herein contain all adjustments necessary to present fairly the Company’s financial position and results of its operations and cash flows for the interim periods presented. Such adjustments are of a normal recurring nature. The results of operations for the three and six months May 31, 2019 may not be indicative of results for the full year.
Emerging Growth Company	We qualify as an “emerging growth company” under the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Section 107 of the JOBS Act provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act of 1933 as amended (the “Securities Act”) for complying with new or revised accounting standards. As an emerging growth company, we can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected to take advantage of the benefits of this extended transition period.
Use of Estimates	The preparation of the unaudited condensed financial statements in conformity with GAAP 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. The estimates and judgments will also affect the reported amounts for certain revenues and expenses during the reporting period. Actual results could differ from these good faith estimates and judgments.
Net Loss Per Share of Common Stock	Basic net loss per share excludes the effect of dilution and is computed by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding. Diluted net loss per share is computed by giving effect to all potential shares of common stock. For the three and six months ended May 31, 2019 and 2018, there were no common stock equivalents outstanding. In periods in which a net loss has been incurred, all potentially dilutive common shares are considered anti-dilutive and thus are excluded from the calculation.
Recent Accounting Pronouncements	Management has considered all recent accounting pronouncements issued. The Company’s management believes that these recent pronouncements will not have a material effect on the Company’s financial statements.

ORGANIZATION AND DESCRIPTION _2

ORGANIZATION AND DESCRIPTION OF BUSINESS (Details Narrative)	6 Months Ended
	May 31, 2019
ORGANIZATION AND DESCRIPTION OF BUSINESS (Details Narrative)
State of Incorporation
Date of incorporation	Jun. 27, 2014

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	May 31, 2019	Nov. 30, 2018	May 31, 2018	Nov. 30, 2017
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)
Cash and cash equivalents			$ 2,164	$ 1,673

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	3 Months Ended				6 Months Ended
	May 31, 2019	Feb. 28, 2019	May 31, 2018	Feb. 28, 2018	May 31, 2019	May 31, 2018	Nov. 30, 2018
GOING CONCERN (Details Narrative)
Net loss	$ (69,969)	$ (24,950)	$ (12,256)	$ (13,330)	$ (94,919)	$ (25,586)
Accumulated deficit	$ (358,304)				$ (358,304)		$ (263,385)

EQUITY (Details Narrative)

EQUITY (Details Narrative)	6 Months Ended
	May 31, 2018USD ($)shares
EQUITY (Details Narrative)
Stock Issued During Period, Shares | shares	125,000
Stock Issued During Period, Value | $	$ 25,000

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative)	6 Months Ended
	May 31, 2019USD ($)
Chief Executive Officer [Member]
Amount borrowed from related party during period	$ 78,419

Uncategorized Items - wrri-2019

Label	Element	Value
Common shares issued for cash, amount	us-gaap_StockIssuedDuringPeriodValueIssuedForServices	$ 25,020