Seguin Natural Hair Products (SNHR) 10-Q 20 Nov 17 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Sep. 30, 2017	Nov. 20, 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	Sep. 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	Q2
Document Fiscal Year Focus	2,018

Balance Sheets (Unaudited)

Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2017	Mar. 31, 2017
CURRENT ASSETS:
Cash	$ 6,660	$ 622
Total Current Assets	6,660	622
Total Assets	6,660	622
CURRENT LIABILITIES:
Accrued expenses and other current liabilities	10,391	2,249
Convertible note payable related party, net of unamortized discount	1,961
Promissory notes payable - related parties	20,595
Promissory notes payable	10,000
Advances from stockholders	236	236
Total Current Liabilities	43,183	2,485
Total Liabilities	43,183	2,485
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' DEFICIT:
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	98,693	90,693
Accumulated deficit	(136,866)	(94,206)
Total Stockholders' Deficit	(36,523)	(1,863)
Total Liabilities and Stockholders' Deficit	$ 6,660	$ 622

Balance Sheets (Unaudited) (Par

Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 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		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Operating Expenses
Professional fees	$ 23,706	$ 5,797	$ 36,775	$ 27,209
General and administrative expenses	2,012	115	2,097	4,240
Total operating expenses	25,718	5,912	38,872	31,449
Loss from Operations	(25,718)	(5,912)	(38,872)	(31,449)
Other Expenses
Interest expense	(3,439)		(3,788)
Net Loss	$ (29,157)	$ (5,912)	$ (42,660)	$ (31,449)
Net Loss per Common Share - Basic and Diluted (in dollars per share)	$ 0	$ 0	$ 0	$ 0
Weighted average common shares outstanding: - basic and diluted (in shares)	16,500,000	16,500,000	16,500,000	16,500,000

Statements of Cash Flows

Statements of Cash Flows - USD ($)	6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (42,660)	$ (31,449)
Adjustments to reconcile net loss to net cash used in operating activities
Amortization of debt discount	1,961
Prepaid Expenses		1,783
Accrued expenses and other current liabilities	8,142
Net cash used in operating activities	(32,557)	(29,666)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from capital contribution	1,000
Proceeds from related party convertible note	7,000	9,900
Proceeds from promissory notes payable	10,000
Proceeds from promissory notes payable - related parties	20,595
Net cash provided by financing activities	38,595	9,900
Net change in cash	6,038	(19,766)
Cash at beginning of the reporting period	622	21,781
Cash at end of the reporting period	6,660	2,015
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION:
Interest paid
Income tax paid
SUPPLIMENTAL DISCLOSURE OF NON-CASH TRANSACTIONS
Debt discount recorded on convertible debt due to beneficial conversion feature	$ 7,000

Organization

Organization	6 Months Ended
	Sep. 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	6 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Basis of Presentation	Note 2 – Basis of Presentation The accompanying 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	6 Months Ended
	Sep. 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 September 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.

Promissory Note - Related party

Promissory Note - Related party	6 Months Ended
	Sep. 30, 2017
Promissory Note - Related Party
Promissory Note - Related party	Note 4 – Promissory Note - Related party On August 1, 2017, the Company (the “Borrower”) entered into a Promissory Note Agreement (the “Note”) with an investor (the “Lender”) who has significant influence, for up to $5,225 principal. The consideration is $5,225 payable with a 25% interest per annum and is payable on demand. There is no penalty for prepayment. On August 3, 2017, the Company (the “Borrower”) entered into a Promissory Note Agreement (the “Note”) with an investor (the “Lender”) who has significant influence for up to $1,500 principal. The consideration of $1,500 with a 25% interest per annum is payable on demand. There is no penalty for prepayment. On August 10, 2017, the Company (the “Borrower”) entered into a Promissory Note Agreement (the “Note”) with an investor (the “Lender”) who has significant influence for up to $4,370 principal. The consideration of $4,370 with a 25% interest per annum is payable on demand. There is no penalty for prepayment. On August 28, 2017, the Company (the “Borrower”) entered into a Promissory Note Agreement (the “Note”) with an investor (the “Lender”) who has significant influence for up to $7,000 principal. The consideration of $7,000 with a 25% interest per annum is payable on demand. There is no penalty for prepayment. On September 11, 2017, the Company (the “Borrower”) entered into a Promissory Note Agreement (the “Note”) with an investor (the “Lender”) who has significant influence for up to $2,500 principal. The consideration of $2,500 with a 25% interest per annum is payable on demand. There is no penalty for prepayment.

Promissory Note

Promissory Note	6 Months Ended
	Sep. 30, 2017
Promissory Note
Promissory Note	Note 5 – Promissory Note On September 28, 2017, the Company (the “Borrower”) entered into a Promissory Note Agreement (the “Note”) with an investor (the “Lender”) for up to $10,000 principal. The consideration of $10,000 with a 25% interest per annum is payable on demand. There is no penalty for prepayment.

Convertible Note - Related part

Convertible Note - Related party	6 Months Ended
	Sep. 30, 2017
Convertible Note - Related Party
Convertible Note - Related party	Note 6 – Convertible Note - Related party On June 19, 2017, the Company (the “Borrower”) entered into a Promissory Note Agreement (the “Note”) with an investor (the “Lender”) who has significant influence for up to $7,000 principal. The consideration is $7,000 payable with a 60% interest per annum and will mature after one year from the date of the note. There is an interest penalty for prepayment before 180 days which ranges from 118%-148%. Conversion terms: The Lender has the right at any time from the effective date, to convert the outstanding and unpaid notes principal and interest due into the Company’s common shares. The conversion price is $0.0001 per share. The total number of shares due under any conversion notice will be equal to the conversion amount divided by the conversion price. The Company evaluated the convertible note for possible embedded derivatives and concluded that none exist. However, the Company concluded a portion of the note should be allocated to additional paid-in capital as a beneficial conversion feature at the issuance date, since the conversion price on that date was lower than the fair market value of the underlying stock. Resultantly, a discount of $7,000 was recognized during the six months ended September 30, 2017 representing the intrinsic value of the beneficial conversion feature of the note, which amount is being amortized through the maturity date of the note. The amortization of the discount for the six months ended September 30, 2017 is $1,961.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Sep. 30, 2017
Related Party Transactions [Abstract]
Related Party Transactions	Note 7 – 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 year ended March 31, 2016, a significant stockholder of the Company advanced $236 to the Company, which was recorded as non-interest bearing advances from shareholders, payable on demand. The balance owed to shareholders as of September 30, 2017 and March 31, 2017 was $236 and $236, respectively. The advances from shareholders are non-interest bearing, and payable on demand. Contribution of Capital During the six months ended September 30, 2017, Oivi Launonen, former CEO of the Company, made a total contribution of $1,000 on April 7, 2017.

Change in control

Change in control	6 Months Ended
	Sep. 30, 2017
Change In Control
Change in control	Note 8 - Change in control On May 1, 2017, Glenn Similas, Jacob D. Madsen and Robert C. Laskowski, Attorney at Law, as nominee, (collectively, “Purchasers”) entered into a Stock Purchase Agreement with Oivi Launonen to purchase 12,000,000 shares of Common Stock(“Shares”) of the Company. The Shares were acquired as follows: Glenn Similas 792,000 shares Jacob D. Madsen 483,000 shares Robert C. Laskowski, as nominee holder 10,725,000 shares The Shares represent 72.72% of the issued and outstanding Common Stock of the Company based upon 16,500,000 shares of Common Stock issued and outstanding at the time of the acquisition. Effective August 1, 2017, Kimberly Wright was appointed as President, CEO, CFO, Treasurer, and Secretary of the Company and was appointed as currently the sole director of the Company. Ms. Wright’s initial executive compensation consists of a salary of $2,500 per month plus an annual common stock award of 50,000 shares.

Subsequent events

Subsequent events	6 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
Subsequent events	Note 9 – Subsequent events 1) Promissory Notes - Related Party On October 31, 2017, the Company entered into a Promissory Note with an investor (the “Lender”) who has significant influence over the Company's affairs for up to $1,400. Interest is 25% per annum and is payable on demand. There is no penalty for prepayment. On November 8, 2017, the Company entered into a Promissory Note with an investor who has significant influence over the Company's affairs for $5,600. Interest is 25% per annum and is payable on demand. There is no penalty for prepayment. 2) Convertible Note - Related party On October 9, 2017, the Company entered into a Promissory Note with an investor who has significant influence over the Company's affairs for $3,000. Interest is 25% per annum and is payable on demand. There is no penalty for prepayment. Conversion terms: The Lender has the right at any time from the effective date, to convert the outstanding and unpaid notes principal and interest due into the Company's common shares. The conversion price is $0.0001 per share. The total number of shares due under any conversion notice will be equal to the conversion amount divided by the conversion price. 3) Modification of Promissory Notes On October 6, 2017, the Company amended previously issued promissory notes with an aggregate principal amount of $20,595 owed to an investor who has significant influence over the Company's affairs and a promissory note with a principal amount of $10,000 owed to an investor whereby a conversion option was added to the notes. As of October 6, 2017, the lenders have the right at any time from the effective date, to convert the outstanding and unpaid notes principal and interest due into the Company's common shares. The conversion price is $0.0001 per share. The total number of shares due under any conversion notice will be equal to the conversion amount divided by the conversion price.

Change in control (Tables)

Change in control (Tables)	6 Months Ended
	Sep. 30, 2017
Change In Control Tables
Schedule of shares acquired	The Shares were acquired as follows: Glenn Similas 792,000 shares Jacob D. Madsen 483,000 shares Robert C. Laskowski, as nominee holder 10,725,000 shares

Promissory Note - Related par16

Promissory Note - Related party (Details Narrative) - Promissory Note Agreement [Member] - Investor [Member] - USD ($)	Sep. 28, 2017	Sep. 11, 2017	Aug. 28, 2017	Aug. 10, 2017	Aug. 03, 2017	Aug. 01, 2017	Jun. 19, 2017
Promissory note principal amount							$ 7,000
Interest rate							60.00%
Promissory Note [Member]
Promissory note principal amount	$ 10,000	$ 2,500	$ 7,000	$ 4,370	$ 1,500	$ 5,225
Proceed from debt consideration	$ 10,000	$ 2,500	$ 7,000	$ 4,370	$ 1,500	$ 5,225
Interest rate	25.00%	25.00%	25.00%	25.00%	25.00%	25.00%

Promissory Note (Details Narrat

Promissory Note (Details Narrative) - Promissory Note Agreement [Member] - Investor [Member] - USD ($)	Sep. 28, 2017	Sep. 11, 2017	Aug. 28, 2017	Aug. 10, 2017	Aug. 03, 2017	Aug. 01, 2017	Jun. 19, 2017
Promissory note principal amount							$ 7,000
Interest rate							60.00%
Promissory Note [Member]
Promissory note principal amount	$ 10,000	$ 2,500	$ 7,000	$ 4,370	$ 1,500	$ 5,225
Proceed from debt consideration	$ 10,000	$ 2,500	$ 7,000	$ 4,370	$ 1,500	$ 5,225
Interest rate	25.00%	25.00%	25.00%	25.00%	25.00%	25.00%

Convertible Note - Related pa18

Convertible Note - Related party (Details Narrative) - USD ($)	Jun. 19, 2017	Sep. 30, 2017	Sep. 30, 2016
Amortization of debt discount		$ 1,961
Promissory Note Agreement [Member] | Investor [Member]
Principal amount	$ 7,000
Interest rate	60.00%
Conversion price, per share (in dollars per share)	$ 0.0001
Intrinsic value of beneficial conversion feature	$ 7,000
Promissory Note Agreement [Member] | Investor [Member] | Minimum [Member]
Penalty for prepayment interest rate	118.00%
Promissory Note Agreement [Member] | Investor [Member] | Maximum [Member]
Penalty for prepayment interest rate	148.00%

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	6 Months Ended	12 Months Ended
	Sep. 30, 2017	Mar. 31, 2016	Mar. 31, 2017
Proceeds from contributed capital		$ 236
Advances from stockholders	$ 236		$ 236
Mr. Oivi Launonen [Member]
Proceeds from contributed capital	$ 1,000

Change in control (Details)

Change in control (Details) - USD ($)	Aug. 01, 2017	May 01, 2017	Sep. 30, 2017	Mar. 31, 2017
Percentage of shares issued and outstanding			72.72%
Common stock, issued			16,500,000	16,500,000
Common stock, outstanding			16,500,000	16,500,000
Ms. Kimberly Wright [Member]
Salary, per month	$ 2,500
Annual common stock award	50,000
Stock Purchase Agreement [Member] | Mr. Oivi Launonen [Member]
Number of shares purchased		12,000,000
Stock Purchase Agreement [Member] | Glenn Similas [Member]
Number of shares purchased		792,000
Stock Purchase Agreement [Member] | Jacob D. Madsen [Member]
Number of shares purchased		483,000
Stock Purchase Agreement [Member] | Robert C. Laskowski [Member]
Number of shares purchased		10,725,000

Subsequent events (Details Narr

Subsequent events (Details Narrative) - Subsequent Event [Member] - Investor [Member] - USD ($)	Oct. 09, 2017	Oct. 06, 2017	Nov. 08, 2017	Oct. 31, 2017
Promissory Note [Member]
Promissory note principal amount		$ 10,000	$ 5,600	$ 1,400
Interest rate			25.00%	25.00%
Previously aggregate principal amount of promissory note		$ 20,595
Description of debt conversion		The lenders have the right at any time from the effective date, to convert the outstanding and unpaid notes principal and interest due into the Company's common shares. The conversion price is $0.0001 per share.
Conversion price		$ 0.0001
Convertible Note [Member]
Promissory note principal amount	$ 3,000
Interest rate	25.00%
Description of debt conversion	The Lender has the right at any time from the effective date, to convert the outstanding and unpaid notes principal and interest due into the Company's common shares. The conversion price is $0.0001 per share. The total number of shares due under any conversion notice will be equal to the conversion amount divided by the conversion price.
Conversion price	$ 0.0001