Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Jun. 30, 2017 | Aug. 18, 2017 | |
Document And Entity Information | ||
Entity Registrant Name | SEGUIN NATURAL HAIR PRODUCTS INC. | |
Entity Central Index Key | 1,642,363 | |
Document Type | 10-Q | |
Trading Symbol | SNHP | |
Document Period End Date | Jun. 30, 2017 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --03-31 | |
Entity a Well-known Seasoned Issuer | No | |
Entity a Voluntary Filer | No | |
Entity's Reporting Status Current | Yes | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 16,500,000 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2,018 |
Balance Sheets (Unaudited)
Balance Sheets (Unaudited) - USD ($) | Jun. 30, 2017 | Mar. 31, 2017 |
CURRENT ASSETS: | ||
Cash | $ 993 | $ 622 |
Total Current Assets | 993 | 622 |
Total Assets | 993 | 622 |
CURRENT LIABILITIES: | ||
Accrued expenses and other current liabilities | 6,865 | 2,249 |
Advances from stockholders | 7,000 | 236 |
Total Current Liabilities | 13,865 | 2,485 |
Total Liabilities | 13,865 | 2,485 |
COMMITMENTS AND CONTINGENCIES | ||
STOCKHOLDERS' EQUITY: | ||
Common stock par value $0.0001: 500,000,000 shares authorized; 16,500,000 shares issued and outstanding | 1,650 | 1,650 |
Additional paid-in capital | 91,693 | 90,693 |
Accumulated deficit | (106,215) | (94,206) |
Total Stockholders' Equity | (12,872) | (1,863) |
Total Liabilities and Stockholders' Equity | $ 993 | $ 622 |
Balance Sheets (Unaudited) (Par
Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Jun. 30, 2017 | Mar. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, authorized | 500,000,000 | 500,000,000 |
Common stock, issued | 16,500,000 | 16,500,000 |
Common stock, outstanding | 16,500,000 | 16,500,000 |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Income Statement [Abstract] | ||
Revenue | ||
Operating Expenses | ||
Professional fees | 13,069 | 21,412 |
General and administrative expenses | 223 | 4,125 |
Total operating expenses | 13,292 | 25,537 |
Loss from Operations | (13,292) | (25,537) |
Income Tax Provision | ||
Net Loss | $ (13,292) | $ (25,537) |
Net Loss per Common Share - Basic and Diluted (in dollars per share) | $ 0 | $ 0 |
Weighted average common shares outstanding: - basic and diluted (in shares) | 16,500,000 | 16,500,000 |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (13,292) | $ (25,537) |
Changes in operating assets and liabilities: | ||
Prepaid Expenses | 1,686 | |
Accrued expenses and other current liabilities | 12,663 | 6,000 |
Net cash used in operating activities | (629) | (17,851) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Capital contribution | 1,000 | 3,965 |
Net cash provided by financing activities | 1,000 | 3,965 |
Net change in cash | 371 | (13,886) |
Cash at beginning of the reporting period | 622 | 21,781 |
Cash at end of the reporting period | 993 | 7,895 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION: | ||
Interest paid | ||
Income tax paid |
Organization
Organization | 3 Months Ended |
Jun. 30, 2017 | |
Accounting Policies [Abstract] | |
Organization | Note 1 - Organization Seguin Natural Hair Products Inc. Seguin Natural Hair Products Inc. (the “Company”) was incorporated on April 29, 2014 under the laws of the State of Nevada. Initial operations have included organization and incorporation, target market identification, marketing plans, capital formation and property acquisitions. A substantial portion of the Company’s activities has involved developing a business plan and establishing contacts and visibility in the marketplace. The Company has generated no revenues since inception. The Company intends to proceed in the business of developing, marketing, and selling shampoo, conditioner and other hair care products made from all natural ingredients. |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Jun. 30, 2017 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Note 2 – Basis of Presentation The accompanying unaudited interim financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for the interim financial information, and with the rules and regulations of the United States Securities and Exchange Commission (“SEC”) to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The unaudited interim financial statements furnished reflect all adjustments (consisting of normal recurring accruals) which are, in the opinion of management, necessary to a fair statement of the results for the interim period presented. Unaudited interim results are not necessarily indicative of the results for the full fiscal year. These financial statements should be read in conjunction with the audited financial statements of the Company for the year ended March 31, 2017 and notes thereto contained in the Company’s Annual Report on Form 10-K filed with the SEC on July 13, 2017. |
Going Concern
Going Concern | 3 Months Ended |
Jun. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern | Note 3 – Going Concern The Company has elected to adopt early application of Accounting Standards Update No. 2014-15, “Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”) The Company’s financial statements have been prepared assuming that it will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business.As reflected in the financial statements, the Company had an accumulated deficit at June 30, 2017, a net loss and net cash used in operating activities for the reporting period then ended. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company is attempting to commence operations and generate sufficient revenue; however, the Company’s cash position may not be sufficient to support its daily operations. While the Company believes in the viability of its strategy to commence operations and generate sufficient revenue and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon its ability to further implement its business plan and generate sufficient revenue and in its ability to raise additional funds. The financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. |
Stockholders' Equity (Deficit)
Stockholders' Equity (Deficit) | 3 Months Ended |
Jun. 30, 2017 | |
Equity [Abstract] | |
Stockholders' Equity (Deficit) | Note 4 – Stockholders’ Equity (Deficit) Shares Authorized Upon formation the total number of shares of all classes of stock which the Company is authorized to issue Five Hundred Million (500,000,000) shares of Common Stock, par value $0.0001 per share. Common Stock On April 29, 2014, upon formation, the Company issued an aggregate of 12,000,000 shares of the newly formed corporation’s common stock to its Chief Executive Officer at the par value of $0.0001 per share or $1,200 for compensation. For the period from August 4, 2014 through March 31, 2015, the Company sold 4,500,000 shares of common stock at $0.01 per share to 45 individuals, or $45,000. |
Related Party Transactions
Related Party Transactions | 3 Months Ended |
Jun. 30, 2017 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note 5 – Related Party Transactions Free Office Space The Company has been provided office space by its Chief Executive Officer at no cost. The management determined that such cost is nominal and did not recognize the rent expense in its financial statement. Shareholder Advances During the quarter ended June 30, 2017, a stockholder holding less than 5% of shares of the Company advanced $7,000 to the Company, which was recorded as interest bearing advances from stockholders, payable on demand. The accrued interest in amount of $138 is included in financial statements. Contribution of Capital During the three months ended June 30, 2017, Oivi Launonen, ex-CEO of the Company, made a total capital contribution of $1,000 on April 7, 2017. |
Stockholders' Equity (Deficit)
Stockholders' Equity (Deficit) (Details Narrative) - USD ($) | Apr. 29, 2014 | Mar. 31, 2015 | Jun. 30, 2017 | Mar. 31, 2017 |
Common stock, authorized | 500,000,000 | 500,000,000 | ||
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 | ||
Forty-Five Individuals [Member] | ||||
Stock Issued during period, shares, new issues | 4,500,000 | |||
Sale of stock, price per share | $ 0.01 | |||
Stock issued during period, value, new issues | $ 45,000 | |||
Mr. Kimberly Wright [Member] | ||||
Stock issued during period (in shares) | 12,000,000 | |||
Shares issued, price per share | $ 0.0001 | |||
Stock issued during period, value, share-based compensation, net of forfeitures | $ 1,200 |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) | 3 Months Ended |
Jun. 30, 2017USD ($) | |
Proceeds from contributed capital | $ 7,000 |
Accrued interest | $ 138 |
Minimum [Member] | |
Percentage of shareholder advances | 5.00% |
Mr. Oivi Launonen [Member] | |
Proceeds from contributed capital | $ 1,000 |