Seguin Natural Hair Products (SNHR) 10-Q 16 Feb 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 31, 2017	Feb. 13, 2018
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	Dec. 31, 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		16,550,000
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,018

Balance Sheets Unaudited

Balance Sheets Unaudited - USD ($)	Dec. 31, 2017	Mar. 31, 2017
CURRENT ASSETS:
Cash	$ 783	$ 622
Total Current Assets	783	622
Total Assets	783	622
CURRENT LIABILITIES:
Accrued expenses and other current liabilities	17,731	2,249
Convertible note payable related party, net of unamortized discount	38,506
Convertible note payable	10,000
Promissory notes payable - related parties	12,500
Advances from stockholders	236	236
Total Current Liabilities	78,973	2,485
Total Liabilities	78,973	2,485
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' DEFICIT:
Common stock par value $0.0001: 500,000,000 shares authorized; 16,550,000 and 16,500,000 shares issued and outstanding as of December 31, 2017 and March 31, 2017; respectively	1,655	1,650
Additional paid-in capital	132,288	90,693
Accumulated deficit	(212,133)	(94,206)
Total Stockholders' Deficit	(78,190)	(1,863)
Total Liabilities and Stockholders' Deficit	$ 783	$ 622

Balance Sheets Unaudited (Paren

Balance Sheets Unaudited (Parenthetical) - $ / shares	Dec. 31, 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	16,550,000	16,500,000
Common stock, outstanding	16,550,000	16,500,000

Statements of Operations Unaudi

Statements of Operations Unaudited - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Operating Expenses
Professional fees	$ 35,863	$ 2,830	$ 72,638	$ 30,039
General and administrative expenses	439	8,558	2,536	12,798
Total operating expenses	36,302	11,388	75,174	42,837
Loss from Operations	(36,302)	(11,388)	(75,174)	(42,837)
Other Expenses
Interest expense	(38,965)		(42,753)
Total other expense	(38,965)		(42,753)
Net Loss	$ (75,267)	$ (11,388)	$ (117,927)	$ (42,837)
Net Loss per Common Share - Basic and Diluted (in dollars per share)	$ 0	$ 0	$ (0.01)	$ 0
Weighted average common shares outstanding: - basic and diluted (in shares)	16,550,000	16,500,000	16,527,555	16,500,000

Statements of Cash Flows Unaudi

Statements of Cash Flows Unaudited - USD ($)	9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (117,927)	$ (42,837)
Adjustments to reconcile net loss to net cash used in operating activities
Stock based compensation	5
Amortization on debt discount	37,306
Changes in operating assets and liabilities:
Prepaid Expenses		2,280
Accrued expenses and other current liabilities	26,577
Net cash used in operating activities	(54,039)	(40,557)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from capital contribution	1,000	19,330
Proceeds from related party convertible note	30,700
Proceeds from convertible note	10,000
Proceeds from promissory notes payable - related parties	12,500
Net cash provided by financing activities	54,200	19,330
Net change in cash	161	(21,227)
Cash at beginning of the reporting period	622	21,781
Cash at end of the reporting period	783	554
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	40,595
Expenses paid by related party on behalf of the company	$ 11,095

Organization

Organization	9 Months Ended
	Dec. 31, 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	9 Months Ended
	Dec. 31, 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	9 Months Ended
	Dec. 31, 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 December 31, 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	9 Months Ended
	Dec. 31, 2017
Promissory Note - Related Party
Promissory Note - Related party	Note 4 – Promissory Note - 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. On December 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 $5,500 principal. The consideration of $5,500 with a 25% interest per annum is payable on demand. There is no penalty for prepayment.

Convertible Note - Related part

Convertible Note - Related party	9 Months Ended
	Dec. 31, 2017
Convertible Note - Related Party
Convertible Note - Related party	Note 5 – 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: From August 1 to Sep 30, 2017 the Company issued various promissory notes with an aggregate principal amount of $20,595, of which $11,095 was paid directly by the holder to pay for expenses on behalf of the Company. These borrowing were from an investor who has significant influence over the Company’s affairs. Interest is 25% per annum and is payable on demand. There is no penalty for prepayment. These promissory notes have since been modified to include conversion privileges, as per note 7 below. 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: On November 14, 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 $2,200. The consideration is $2,200 payable with a 12% interest per annum and payable on demand. In the event of any prepayment, the Borrower will pay to Lender 150% of the unpaid principal amount of this Note. Conversion terms: The Lender has the right at any time from time to time, following the 9 th ( Conversion Price . On November 20, 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. The consideration is $2,500 payable with a 12% interest per annum and payable on demand. In the event of any prepayment, the Borrower will pay to Lender 150% of the unpaid principal amount of this Note. Conversion terms: The Lender has the right at any time from time to time, following the 9 th ( Conversion Price On December 4, 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 $6,500. The consideration is $6,500 payable with a 12% interest per annum and payable on demand. In the event of any prepayment, the Borrower will pay to Lender 150% of the unpaid principal amount of this Note. Conversion terms: The Lender has the right at any time from time to time, following the 9 th ( 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 $30,595 was recognized during the nine months ended December 31, 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 nine months ended December 31, 2017 is $27,306.

Convertible Note

Convertible Note	9 Months Ended
	Dec. 31, 2017
Convertible Note
Convertible Note	Note 6 – Convertible Note On September 28, 2017, the Company entered into a Promissory Note Agreement with an investor for up to $10,000. Interest is 25% per annum and is payable on demand. There is no penalty for prepayment. 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 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 $10,000 was recognized during the nine months ended December 31, 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 nine months ended December 31, 2017 is $10,000. On October 6, 2017 this promissory note has since been modified to include conversion privileges, as per note 7 below.

Modification of Promissory Note

Modification of Promissory Notes	9 Months Ended
	Dec. 31, 2017
Modification Of Promissory Notes
Modification of Promissory Notes	Note 7 - 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, which is treated as debt extinguishment.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Dec. 31, 2017
Related Party Transactions [Abstract]
Related Party Transactions	Note 8 – 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 The balance owed to shareholders as of December 31, 2017 and March 31, 2017 was $236 and $236, respectively. The advances from shareholders are unsecured, non-interest bearing, and payable on demand. Contribution of Capital During the nine months ended December 31, 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	9 Months Ended
	Dec. 31, 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 with a value of $5 and accounted for as stock based compensation.

Subsequent events

Subsequent events	9 Months Ended
	Dec. 31, 2017
Subsequent Events [Abstract]
Subsequent events	Note 9- Subsequent events (1) Convertible Note - Related party On January 26, 2018, the Company (the “Borrower”) entered into a Promissory Note Agreement (the “Note”) with an investor (the “Lender”) who has significant influence for up to $21,000. The consideration is $21,000 payable with a 12% interest per annum and payable on demand. Conversion terms: The Lender has the right at any time from time to time, following the 9 th ( Conversion Price On February 9, 2018, the Company (the “Borrower”) entered into a Promissory Note Agreement (the “Note”) with an investor (the “Lender”) who has significant influence for up to $4,000. The consideration is $4,000 payable with a 12% interest per annum and payable on demand. Conversion terms: The Lender has the right at any time from time to time, following the 9 th ( Conversion Price

Change in control (Tables)

Change in control (Tables)	9 Months Ended
	Dec. 31, 2017
Change In Control
Schedule of shares acquired	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

Promissory Note - Related par17

Promissory Note - Related party (Details Narrative) - Investor [Member] - USD ($)	Dec. 11, 2017	Jun. 19, 2017	Dec. 04, 2017	Nov. 20, 2017	Nov. 14, 2017	Nov. 08, 2017	Oct. 31, 2017	Oct. 09, 2017	Oct. 06, 2017	Sep. 30, 2017	Sep. 28, 2017
Promissory Note [Member]
Promissory note principal amount									$ 10,000
Promissory Note Agreement [Member]
Promissory note principal amount		$ 7,000	$ 6,500	$ 2,500	$ 2,200			$ 3,000		$ 20,595	$ 10,000
Proceed from debt consideration		$ 7,000
Interest rate		60.00%	12.00%	12.00%	12.00%			25.00%		25.00%	25.00%
Promissory Note Agreement [Member] | Promissory Note [Member]
Promissory note principal amount	$ 5,500					$ 5,600	$ 1,400
Proceed from debt consideration	$ 5,500
Interest rate	25.00%					25.00%	25.00%

Convertible Note - Related pa18

Convertible Note - Related party (Details Narrative) - USD ($)	Jun. 19, 2017	Sep. 30, 2017	Dec. 31, 2017	Dec. 04, 2017	Nov. 20, 2017	Nov. 14, 2017	Oct. 09, 2017	Sep. 28, 2017
Proceeds from related party debt			$ 30,700
Amortization of debt discount			37,306
Promissory Note Agreement [Member] | Investor [Member]
Principal amount	$ 7,000	$ 20,595		$ 6,500	$ 2,500	$ 2,200	$ 3,000	$ 10,000
Proceed from debt consideration	$ 7,000
Proceeds from related party debt		$ 11,095
Maturity description	Mature after one year from the date of the note.
Interest rate	60.00%	25.00%		12.00%	12.00%	12.00%	25.00%	25.00%
Penalty for prepayment interest rate				150.00%	150.00%	150.00%
Conversion price, per share (in dollars per share)	$ 0.0001			$ 0.35	$ 0.35	$ 0.35	$ 0.0001	$ 0.0001
Intrinsic value of beneficial conversion feature			30,595
Amortization of debt discount			$ 27,306
Promissory Note Agreement [Member] | Investor [Member] | Minimum [Member]
Penalty for prepayment interest rate	118.00%
Promissory Note Agreement [Member] | Investor [Member] | Maximum [Member]
Principal amount				$ 6,500	$ 2,500	$ 2,200
Penalty for prepayment interest rate	148.00%

Convertible Note (Details Narra

Convertible Note (Details Narrative) - USD ($)	9 Months Ended
	Dec. 31, 2017	Dec. 04, 2017	Nov. 20, 2017	Nov. 14, 2017	Oct. 09, 2017	Sep. 30, 2017	Sep. 28, 2017	Jun. 19, 2017
Amortization of debt discount	$ 37,306
Promissory Note Agreement [Member] | Investor [Member]
Principal amount		$ 6,500	$ 2,500	$ 2,200	$ 3,000	$ 20,595	$ 10,000	$ 7,000
Interest rate		12.00%	12.00%	12.00%	25.00%	25.00%	25.00%	60.00%
Conversion price, per share (in dollars per share)		$ 0.35	$ 0.35	$ 0.35	$ 0.0001		$ 0.0001	$ 0.0001
Intrinsic value of beneficial conversion feature	30,595
Amortization of debt discount	27,306
Promissory Note Agreement [Member] | Investor [Member]
Intrinsic value of beneficial conversion feature	10,000
Amortization of debt discount	$ 10,000

Modification of Promissory No20

Modification of Promissory Notes (Details Narrative) - Investor [Member] - Promissory Note [Member]	Oct. 06, 2017USD ($)$ / shares
Promissory note principal amount	$ 10,000
Previously aggregate principal amount of promissory note	$ 20,595
Conversion price | $ / shares	$ 0.0001

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	9 Months Ended
	Dec. 31, 2017	Mar. 31, 2017
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	Dec. 31, 2017	Mar. 31, 2017
Percentage of shares issued and outstanding			72.72%
Common stock, issued			16,550,000	16,500,000
Common stock, outstanding			16,550,000	16,500,000
Stock based compensation			$ 5
Ms. Kimberly Wright [Member]
Salary, per month	$ 2,500
Annual common stock award	50,000
Stock based compensation	$ 5
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] - Convertible Note [Member] - USD ($)	Feb. 09, 2018	Jan. 26, 2018
Promissory note principal amount	$ 4,000	$ 21,000
Proceed from debt consideration	$ 4,000	$ 21,000
Interest rate	12.00%	12.00%
Description of debt conversion	The Lender has the right at any time from time to time, following the 9 th The number of shares of Common Stock to be issued upon a conversion hereunder will be determined by dividing the Conversion Amount by Volume Weighted Average Price of the Common Stock as quoted by OTC Markets Group Inc. for the preceding five (5) trading days immediately preceding the date of conversion ( Conversion Price	The Lender has the right at any time from time to time, following the 9 th The number of shares of Common Stock to be issued upon a conversion hereunder will be determined by dividing the Conversion Amount by Volume Weighted Average Price of the Common Stock as quoted by OTC Markets Group Inc. for the preceding five (5) trading days immediately preceding the date of conversion ( Conversion Price
Conversion price (in dollars per share)	$ 0.35	$ 0.35