Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2018 | Nov. 09, 2018 | |
Document And Entity Information | ||
Entity Registrant Name | ANDES 7 INC. | |
Entity Central Index Key | 1,650,205 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2018 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Is Entity's Reporting Status Current? | Yes | |
Is Entity Emerging Growth Company? | true | |
Elected Not To Use the Extended Transition Period | false | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding | 120,100,000 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2,018 |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Current assets: | ||
Cash | $ 1,810 | $ 59,935 |
Accounts receivable | 978 | 3,592 |
Inventory | 82,438 | 66,328 |
Other current assets | 3,450 | 1,936 |
Total current assets | 88,676 | 131,791 |
Office deposit | 8,051 | 8,343 |
Deposit land contract | 273,702 | 166,143 |
Construction in progress | 20,668 | 21,420 |
Property and equipment, net | 252,655 | 259,674 |
Total assets | 643,752 | 587,371 |
Current liabilities: | ||
Accounts payable and accrued liabilities | 3,514 | 4,429 |
Due to a related party | 74,979 | 50,270 |
Loans from directors | 1,196,484 | 931,449 |
Loans payable, current portion | 11,679 | 10,927 |
Total current liabilities | 1,286,656 | 997,075 |
Long term liabilities: | ||
Loans payable, non-current | 15,210 | 25,113 |
Total liabilities | 1,301,866 | 1,022,188 |
Stockholders’ Equity (Deficit): | ||
Preferred stock, $0.0001 par value, 5,000,000 shares authorized; 500,000 and 0 shares issued and outstanding, respectively | 50 | |
Common stock, $0.0001 par value, 1,000,000,000 shares authorized, 120,100,000 and 10,100,000 shares issued and outstanding, respectively | 12,010 | 1,010 |
Additional paid-in capital | 220,826 | 249,044 |
Accumulated deficit | (858,250) | (633,895) |
Accumulated other comprehensive loss | (32,750) | (50,976) |
Total stockholders’ deficit | (658,114) | (434,817) |
Total liabilities and stockholders’ deficit | $ 643,752 | $ 587,371 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Sep. 30, 2018 | Dec. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value per share | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 500,000 | 0 |
Preferred stock, shares outstanding | 500,000 | 0 |
Common stock, par value per share | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 1,000,000,000 | 1,000,000,000 |
Common stock, shares issued | 120,100,000 | 10,100,000 |
Common stock, shares outstanding | 120,100,000 | 10,100,000 |
Consolidated Statements Of Oper
Consolidated Statements Of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Income Statement [Abstract] | ||||
Revenue | $ 5,425 | $ 3,827 | $ 9,020 | $ 67,112 |
Cost of revenue | 1,020 | 5,832 | 6,206 | 53,758 |
Gross Margin | 4,405 | (2,005) | 2,814 | 13,354 |
Operating expenses: | ||||
General and administrative | 55,237 | 61,954 | 204,302 | 191,421 |
Rent expense | 2,730 | 2,056 | 10,270 | 23,948 |
Advertising and promotion | 2,042 | 858 | 10,435 | 15,304 |
Total operating expenses | 60,009 | 64,868 | 225,007 | 230,673 |
Loss from operations | (55,604) | (66,873) | (222,193) | (217,319) |
Other income (expense): | ||||
Interest income | 2 | |||
Interest expense | 407 | 72 | 2,162 | 777 |
Total other expense | (407) | (72) | (2,162) | (775) |
Loss before income taxes | (56,011) | (66,945) | (224,355) | (218,094) |
Provision for income taxes | ||||
Net Loss | (56,011) | (66,945) | (224,355) | (218,094) |
Other comprehensive loss: | ||||
Foreign currency translation adjustment | (17,322) | (4,724) | 18,226 | (23,010) |
Comprehensive loss | $ (73,222) | $ (71,669) | $ (206,129) | $ (241,104) |
Loss per share basic & diluted | $ 0 | $ (0.01) | $ (0.01) | $ (0.02) |
Weighted average outstanding shares, basic & diluted | 117,708,696 | 10,100,000 | 46,363,736 | 10,100,000 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Cash flows from operating activities: | ||
Net loss | $ (224,355) | $ (218,094) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation expense | 20,776 | 20,842 |
Changes in operating assets and liabilities: | ||
Account receivable | (2,614) | 6,529 |
Inventory | 16,110 | (8,816) |
Advanced payments | 37,488 | |
Other assets | 1,222 | 843 |
Accounts payable and accrued liabilities | 33,381 | 8,970 |
Deposits | (107,559) | |
Net cash used in operating activities | (292,475) | (224,326) |
Cash flows from investing activities: | ||
Construction in progress | 752 | 59,838 |
Purchase of property and equipment | 13,757 | 132,449 |
Net cash used in investing activities | (13,005) | (72,611) |
Cash flows from financing activities: | ||
Net proceeds from director loans | 265,035 | 326,236 |
Advances from related party | 7,180 | |
Payments on loans | 9,150 | 6,054 |
Net cash provided by financing activities | 263,065 | 320,182 |
Net change in cash | (42,415) | 23,245 |
Effects of currency translation on cash | (15,710) | (23,010) |
Cash, beginning of period | 59,935 | 1,772 |
Cash, end of period | 1,810 | 2,007 |
SUPPLEMENTAL DISCLOSURES: | ||
Cash paid for interest | ||
Cash paid for taxes |
Organization And Description Of
Organization And Description Of Business | 9 Months Ended |
Sep. 30, 2018 | |
Organization And Description Of Business | |
Organization and Description of Business | NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS ANDES 7 Inc. (the “Company”) was incorporated in the State of Delaware on July 27, 2015. ANDES 7 Inc. was formed as a vehicle to pursue a business combination with an operating company that would have perceived benefits of becoming a publicly traded corporation. On February 12, 2016, the Company entered into a Subscription Agreements with three subscribers for the issuance of its restricted common stock – Abina Asean, Co. Ltd., an entity organized under the laws of the Republic of Seychelles (8,000,000 shares), Toh Kean Ban (1,000,000 shares) and Dr. Ir. H.M. Itoc Tochija (1,000,000 shares). Each of the Subscription Agreements were the result of privately negotiated transactions without the use of public dissemination of promotional or sales materials. Each of the buyers represented they were “accredited investors,” and as such could bear the risk of such investment for an indefinite period of time and to afford a complete loss thereof. On July 2, 2018, the Company entered into an Agreement and Plan of Merger between the Company, ANDES 7 Acquisition Corp, (“Merger Sub”) a Delaware corporation and Abina Co. Ltd. (the “Abina”). Abina is a corporation organized under the Kingdom of Thailand and has operated under the name “Abina Co. Ltd.” since August 3, 2015 and has since then operated a diverse business involved in investments in hotels, resorts, and commercial property. The Agreement and Plan of Merger provided for the acquisition by the Company of all the outstanding shares of Abina through a reverse merger of merger sub into Abina, the surviving corporation. The financial statements have been prepared to retroactively present the reverse merger. |
Going Concern
Going Concern | 9 Months Ended |
Sep. 30, 2018 | |
Going Concern | |
Going Concern | NOTE 2 - GOING CONCERN The accompanying unaudited financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company’s ability to raise additional capital through debt and/or equity financing is unknown. The obtainment of additional financing and the successful development of the Company’s contemplated plan of operations are necessary for the Company to continue. The ability to successfully resolve these factors raise substantial doubt about the Company’s ability to continue as a going concern. However; management believes that the Company will generate sufficient cash flows to fund its operations and to meet its obligations on a timely basis for the next twelve months. The financial statements of the Company do not include any adjustments that may result from the outcome of these aforementioned uncertainties. |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2018 | |
Summary Of Significant Accounting Policies | |
Summary of Significant Accounting Policies | NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The Company’s unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The accompanying unaudited condensed financial statements reflect all adjustments, consisting of only normal recurring items, which, in the opinion of management, are necessary for a fair statement of the results of operations for the periods shown and are not necessarily indicative of the results to be expected for the full year ending December 31, 2018. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company to make estimates and judgments that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities. These estimates and judgments are based on historical information, information that is currently available to the Company and on various other assumptions that the Company believes to be reasonable under the circumstances. Actual results could differ from those estimates. Principles of Consolidation The accompanying consolidated unaudited financial statements include the accounts of the Company and its wholly-owned subsidiaries, Andes 7 Acquisition Corp and Abina Co, Ltd. All financial information has been prepared in conformity with accounting principles generally accepted in the United States of America. All significant intercompany transactions and balances have been eliminated. Translation Adjustment For the periods ended September 30, 2018 and December 31, 2017, the accounts of the Abina Co, Ltd were maintained, and its financial statements were expressed, in Thai BAHT. Such financial statements were translated into USD in accordance with the Foreign Currency Matters Topic of the Codification (ASC 830), with the BAHT as the functional currency. According to the Codification, all assets and liabilities were translated at the current exchange rate at respective balance sheets dates, stockholders’ equity are translated at the historical rates and income statement items are translated at the average exchange rate for the period. The resulting translation adjustments are reported under other comprehensive income in accordance with the Comprehensive Income Topic of the Codification (ASC 220), as a component of members’ capital. Transaction gains and losses are reflected in the income statement. Comprehensive Income/(Loss) The Company uses SFAS 130 “Reporting Comprehensive Income” (ASC Topic 220). Comprehensive income is comprised of net income and all changes to the statements of stockholders’ equity, except those due to investments by stockholders, changes in paid-in capital and distributions to stockholders. Comprehensive loss for the period ended September 30, 2018 and 2017 is included in the statement of operations as a foreign currency translation adjustment. Cash and Cash Equivalents Cash and cash equivalents include cash on hand and cash in time deposits, certificates of deposit and all highly liquid instruments with original maturities of three months or less. Revenue recognition Revenue is recognized when a customer obtains control of promised goods or services and is recognized in an amount that reflects the consideration that an entity expects to receive in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The amount of revenue that is recorded reflects the consideration that the Company expects to receive in exchange for those goods. The Company applies the following five-step model in order to determine this amount: (i) identification of the promised goods in the contract; (ii) determination of whether the promised goods are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. Once a contract is determined to be within the scope of ASC 606 at contract inception, the Company reviews the contract to determine which performance obligations the Company must deliver and which of these performance obligations are distinct. The Company recognizes as revenues the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied or as it is satisfied. Generally, the Company's performance obligations are transferred to customers at a point in time, typically upon delivery. Inventories Inventories are valued at the lower of cost or market utilizing the first-in first-out (FIFO) method. Management compares the cost of inventories with the market value and allowance is made for writing down their inventories to market value, if lower. Recently issued accounting pronouncements The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
Construction In Progress
Construction In Progress | 9 Months Ended |
Sep. 30, 2018 | |
Construction In Progress | |
Construction in Progress | NOTE 4 – CONSTRUCTION IN PROGRESS In 2016 Abina entered into an agreement to purchase land in Chiang Rai, Thailand for 200 million baht, approximately $5.6 million. The Company paid a $139,565 deposit (5 million baht) in 2016 and the balance of 195 million baht is due on December 15, 2018 per the terms of a second amended agreement. The Company plans on developing the land as a tourist destination and is currently in the process of building a café on the property. In 2016 the Company incurred $79,744 of construction related costs of which approximately $68,000 was for the building of the café and the remaining balance of almost $12,000 primarily consisted of land and site development costs. As of September 30, 2018, the balance in the construction in progress account has increased to $20,668. |
Property And Equipment
Property And Equipment | 9 Months Ended |
Sep. 30, 2018 | |
Property And Equipment | |
Property and Equipment | NOTE 5 – PROPERTY AND EQUIPMENT The Company’s property and equipment primarily consists of office furniture and equipment and it is being depreciated using the straight-line method over a period of five years. September 30, December 31, 2017 Office Equipment $ 59,883 $ 55,002 Accounting Software 766 794 Flag Costs 30,224 31,323 Vehicles 85,853 88,975 Buildings and land costs 141,650 130,269 Total property & equipment 318,376 306,363 Less accumulated depreciation (65,721 ) (46,689 ) Property & equipment, net 252,655 259,674 Depreciation expense for the nine months ended September 30, 2018 and 2017 totaled $20,776 and $20,842, respectively. |
Loans Payable
Loans Payable | 9 Months Ended |
Sep. 30, 2018 | |
Loans Payable | |
Loans Payable | NOTE 6 – LOANS PAYABLE The Company has entered into two financing agreements for its vehicles used in the business. The following is a summary of these loans payable as of September 30, 2018: Loan Issue Date Maturity Date Interest Rate Beginning Balance Payments Balance 12/31/17 Payments Balance Siam Commercial Bank #1 7/14/2016 7/14/2020 5.029 % $ 29,846 (7,442 ) 22,404 (6,031 ) 16,373 Siam Commercial Bank #2 11/29/2016 11/29/2020 8.98 % 15,801 (2,165 ) 13,636 (3,120 ) 10,516 |
Preferred Stock
Preferred Stock | 9 Months Ended |
Sep. 30, 2018 | |
Preferred Stock | |
Preferred Stock | NOTE 7 – PREFERRED STOCK The Company is authorized to issue 5,000,000 shares of $0.0001 par value preferred stock. On March 25, 2018, the Company with the authorization of the board of directors and the majority shareholder adopted a resolution to create 500,000 shares of Series A preferred stock. The Company then filed an amendment to its certificate of incorporation with the State of Delaware on May 10, 2018 to create a certificate of designation for 500,000 shares of Series A preferred stock with each share convertible into 1,000 shares of common stock and with voting rights of 1,000 votes for each share of Series A preferred stock. On May 10, 2018, Manichan Khor, the wife of Andrew Khor Poh Kiang, the President, CEO and Chairman entered into a stock purchase agreement to purchase 500,000 shares of Series A preferred stock at par value for total proceeds of $50. |
Common Stock
Common Stock | 9 Months Ended |
Sep. 30, 2018 | |
Common Stock | |
Common Stock | NOTE 8 – COMMON STOCK The Company is authorized to issue 1,000,000,000 shares of $0.0001 par value common stock. As part of the Agreement and Plan of Merger with Abina Co. Ltd. The Company issued 111,000,000 shares of common stock. In addition, Mr. Khor cancelled 1,000,000 shares of his common stock. |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Sep. 30, 2018 | |
Related Party Transactions | |
Related Party Transactions | NOTE 9 – RELATED PARTY TRANSACTIONS During the year ended December 31, 2016, directors of Abina had loaned the Company a total of $655,565. The funds were used to pay for general operating expenses. All loans are unsecured, non-interest bearing and due on demand. As of September 30, 2018, the balance due to was $1,196,484. As September 30, 2018 and December 31, 2017, the Company owed Richard Chiang $990 for the redemption of 9,900,000 shares at par value, which had previously been issued to him in serving in director and officer capacities. Since 2016 a related party has advanced the Company funds to pay for general operating expenses. The funds are unsecured, non-interest bearing and due on demand. As of the balance due is $74,979 and $50,270, respectively. |
Commitment
Commitment | 9 Months Ended |
Sep. 30, 2018 | |
Commitment | |
Commitment | NOTE 10– COMMITMENT In April 2017 the Company entered into a two-year lease for its office facility in Chiang Rai, Thailand. The monthly rent obligation is approximately $963. Minimum required rental payments for 2018 and 2019 are approximately $11,556 and $2,889, respectively. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Loss | 9 Months Ended |
Sep. 30, 2018 | |
Accumulated Other Comprehensive Loss | |
Accumulated Other Comprehensive Loss | NOTE 11 – ACCUMULATED OTHER COMPREHENSIVE LOSS The balance of related after-tax components comprising accumulated other comprehensive income included in stockholders’ equity were as follows at September 30: September 30, 2018 December 31, 2017 Accumulated other comprehensive loss, beginning of period $ (50,976 ) $ 3,647 Change in cumulative translation adjustment 18,226 (54,623 ) Accumulated other comprehensive loss $ (32,750 ) $ (50,976 ) |
Subsequent Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2018 | |
Subsequent Events | |
Subsequent Events | NOTE 12 – SUBSEQUENT EVENTS In accordance with SFAS 165 (ASC 855-10) management has performed an evaluation of subsequent events through the date that the financial statements were issued and has determined that it does not have any material subsequent events to disclose in these financial statements. |
Summary Of Significant Accoun_2
Summary Of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure Summary Of Significant Accounting Policies Abstract | |
Basis of Presentation | Basis of Presentation The Company’s unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The accompanying unaudited condensed financial statements reflect all adjustments, consisting of only normal recurring items, which, in the opinion of management, are necessary for a fair statement of the results of operations for the periods shown and are not necessarily indicative of the results to be expected for the full year ending December 31, 2018. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company to make estimates and judgments that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities. These estimates and judgments are based on historical information, information that is currently available to the Company and on various other assumptions that the Company believes to be reasonable under the circumstances. Actual results could differ from those estimates. |
Principles of Consolidation | Principles of Consolidation The accompanying consolidated unaudited financial statements include the accounts of the Company and its wholly-owned subsidiaries, Andes 7 Acquisition Corp and Abina Co, Ltd. All financial information has been prepared in conformity with accounting principles generally accepted in the United States of America. All significant intercompany transactions and balances have been eliminated. |
Translation Adjustment | Translation Adjustment For the periods ended September 30, 2018 and December 31, 2017, the accounts of the Abina Co, Ltd were maintained, and its financial statements were expressed, in Thai BAHT. Such financial statements were translated into USD in accordance with the Foreign Currency Matters Topic of the Codification (ASC 830), with the BAHT as the functional currency. According to the Codification, all assets and liabilities were translated at the current exchange rate at respective balance sheets dates, stockholders’ equity are translated at the historical rates and income statement items are translated at the average exchange rate for the period. The resulting translation adjustments are reported under other comprehensive income in accordance with the Comprehensive Income Topic of the Codification (ASC 220), as a component of members’ capital. Transaction gains and losses are reflected in the income statement. |
Comprehensive Income/(Loss) | Comprehensive Income/(Loss) The Company uses SFAS 130 “Reporting Comprehensive Income” (ASC Topic 220). Comprehensive income is comprised of net income and all changes to the statements of stockholders’ equity, except those due to investments by stockholders, changes in paid-in capital and distributions to stockholders. Comprehensive loss for the period ended September 30, 2018 and 2017 is included in the statement of operations as a foreign currency translation adjustment. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents include cash on hand and cash in time deposits, certificates of deposit and all highly liquid instruments with original maturities of three months or less. |
Revenue Recognition | Revenue recognition Revenue is recognized when a customer obtains control of promised goods or services and is recognized in an amount that reflects the consideration that an entity expects to receive in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The amount of revenue that is recorded reflects the consideration that the Company expects to receive in exchange for those goods. The Company applies the following five-step model in order to determine this amount: (i) identification of the promised goods in the contract; (ii) determination of whether the promised goods are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. Once a contract is determined to be within the scope of ASC 606 at contract inception, the Company reviews the contract to determine which performance obligations the Company must deliver and which of these performance obligations are distinct. The Company recognizes as revenues the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied or as it is satisfied. Generally, the Company's performance obligations are transferred to customers at a point in time, typically upon delivery. |
Inventories | Inventories Inventories are valued at the lower of cost or market utilizing the first-in first-out (FIFO) method. Management compares the cost of inventories with the market value and allowance is made for writing down their inventories to market value, if lower. |
Recently Issued Accounting Pronouncements | Recently issued accounting pronouncements The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
Property And Equipment (Tables)
Property And Equipment (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure Property And Equipment Tables Abstract | |
Schedule of Property and Equipment | The Company’s property and equipment primarily consists of office furniture and equipment and it is being depreciated using the straight-line method over a period of five years. September 30, December 31, 2017 Office Equipment $ 59,883 $ 55,002 Accounting Software 766 794 Flag Costs 30,224 31,323 Vehicles 85,853 88,975 Buildings and land costs 141,650 130,269 Total property & equipment 318,376 306,363 Less accumulated depreciation (65,721 ) (46,689 ) Property & equipment, net 252,655 259,674 |
Loans Payable (Tables)
Loans Payable (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure Loans Payable Tables Abstract | |
Summary of Loans Payable | The following is a summary of these loans payable as of September 30, 2018: Loan Issue Date Maturity Date Interest Rate Beginning Balance Payments Balance 12/31/17 Payments Balance Siam Commercial Bank #1 7/14/2016 7/14/2020 5.029 % $ 29,846 (7,442 ) 22,404 (6,031 ) 16,373 Siam Commercial Bank #2 11/29/2016 11/29/2020 8.98 % 15,801 (2,165 ) 13,636 (3,120 ) 10,516 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Loss (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure Accumulated Other Comprehensive Loss Tables Abstract | |
Schedule of Accumulated Other Comprehensive Loss | The balance of related after-tax components comprising accumulated other comprehensive income included in stockholders’ equity were as follows at September 30: September 30, 2018 December 31, 2017 Accumulated other comprehensive loss, beginning of period $ (50,976 ) $ 3,647 Change in cumulative translation adjustment 18,226 (54,623 ) Accumulated other comprehensive loss $ (32,750 ) $ (50,976 ) |
Property And Equipment (Details
Property And Equipment (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Property, Plant and Equipment [Line Items] | ||
Property & equipment, gross | $ 318,376 | $ 306,363 |
Less accumulated depreciation | 65,721 | 46,689 |
Property & equipment, net | 252,655 | 259,674 |
Office Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property & equipment, gross | 59,883 | 55,002 |
Accounting Software [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property & equipment, gross | 766 | 794 |
Flag Costs [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property & equipment, gross | 30,224 | 31,323 |
Vehicles [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property & equipment, gross | 85,853 | 88,975 |
Building And Land Costs [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property & equipment, gross | $ 141,650 | $ 130,269 |
Loans Payable (Details)
Loans Payable (Details) - USD ($) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Short-term Debt [Line Items] | |||
Payments | $ 9,150 | $ 6,054 | |
Loans Payable - Siam Commercial Bank #1 [Member] | |||
Short-term Debt [Line Items] | |||
Issue Date | Jul. 14, 2016 | ||
Maturity Date | Jul. 14, 2020 | ||
Interest Rate | 5.029% | ||
Beginning Balance | $ 22,404 | 29,846 | $ 29,846 |
Payments | 6,031 | 7,442 | |
Ending Balance | $ 16,373 | 22,404 | |
Loans Payable - Siam Commercial Bank #2 [Member] | |||
Short-term Debt [Line Items] | |||
Issue Date | Nov. 29, 2016 | ||
Maturity Date | Nov. 29, 2020 | ||
Interest Rate | 8.98% | ||
Beginning Balance | $ 13,636 | $ 15,801 | 15,801 |
Payments | 3,120 | 2,165 | |
Ending Balance | $ 10,516 | $ 13,636 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Loss (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2018 | Dec. 31, 2017 | |
Disclosure Accumulated Other Comprehensive Loss Details Abstract | ||
Accumulated other comprehensive loss, beginning of period | $ (50,976) | $ 3,647 |
Change in cumulative translation adjustment | 18,226 | (54,623) |
Accumulated other comprehensive loss | $ (32,750) | $ (50,976) |
Organization And Description _2
Organization And Description Of Business (Narrative) (Details) - Restricted Common Stock [Member] | Feb. 12, 2016shares |
Subscription Agrements With Abina Asean, Co. Ltd. [Member] | |
Issuance of shares against subscription agreement, shares | 8,000,000 |
Subscription Agrements With Toh Kean Ban [Member] | |
Issuance of shares against subscription agreement, shares | 1,000,000 |
Subscription Agrements With Dr. Ir. H.M. Itoc Tochija [Member] | |
Issuance of shares against subscription agreement, shares | 1,000,000 |
Construction In Progress (Narra
Construction In Progress (Narrative) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Sep. 30, 2018 | Dec. 31, 2017 | |
Construction in progress | $ 20,668 | $ 21,420 | |
Land Purchase Agreement By Abina Co Ltd [Member] | |||
Purchase price of land as per agreement | $ 5,600,000 | ||
Payments for construction in progress | 139,565 | ||
Total construction cost related to building and land | 79,744 | ||
Construction cost related to building of the cafe | 68,000 | ||
Construction cost related primarily consisted land and site development cost | $ 12,000 | ||
Construction in progress | $ 20,668 |
Construction In Progress (Nar_2
Construction In Progress (Narrative) (Details) (THB) - Land Purchase Agreement By Abina Co Ltd [Member] | 12 Months Ended | ||
Dec. 31, 2016USD ($) | Dec. 31, 2016THB (฿) | Dec. 15, 2018THB (฿) | |
Purchase price of land as per agreement | $ | $ 5,600,000 | ||
Payments for construction in progress | $ | $ 139,565 | ||
Thailand, Baht [Member] | |||
Purchase price of land as per agreement | ฿ 200,000,000 | ||
Payments for construction in progress | ฿ 5,000,000 | ||
Balance payable under land purchase agreement | ฿ 195,000,000 |
Property And Equipment (Narrati
Property And Equipment (Narrative) (Details) | 9 Months Ended |
Sep. 30, 2018 | |
Property And Equipment Narrative | |
Depreciation calculation method. | Straight-line method</font></p>" id="sjs-B4"><p><font style="font-size: 10pt">Straight-line method</font></p> |
Useful life of property and equipment | 5 years |
Preferred Stock (Narrative) (De
Preferred Stock (Narrative) (Details) - shares | May 10, 2018 | Sep. 30, 2018 | Mar. 25, 2018 | Dec. 31, 2017 |
Series A Preferred stock authorized | 5,000,000 | 5,000,000 | ||
Series A Preferred Stock [Member] | ||||
Series A Preferred stock authorized | 500,000 | |||
Preferred stock conversion terms | 500,000 shares of Series A preferred stock with each share convertible into 1,000 shares of common stock</font></p>" id="sjs-B5"><p><font style="font-size: 10pt">500,000 shares of Series A preferred stock with each share convertible into 1,000 shares of common stock</font></p> | |||
Preferred stock voting rights | Voting rights of 1,000 votes for each share of Series A preferred stock.</font></p>" id="sjs-B6"><p><font style="font-size: 10pt">Voting rights of 1,000 votes for each share of Series A preferred stock.</font></p> | |||
Series A Preferred Stock [Member] | Stock Purchase Agreement [Member] | Manichan Khor - Wife Of Andrew Khor Poh Kiang, President, CEO And Chairman [Member] | ||||
Stock purchase agreement description | On May 10, 2018, Manichan Khor, the wife of Andrew Khor Poh Kiang, the President, CEO and Chairman entered into a stock purchase agreement to purchase 500,000 shares of Series A preferred stock at par value for total proceeds of $50.</font></p>" id="sjs-B8"><p><font style="font-size: 10pt">On May 10, 2018, Manichan Khor, the wife of Andrew Khor Poh Kiang, the President, CEO and Chairman entered into a stock purchase agreement to purchase 500,000 shares of Series A preferred stock at par value for total proceeds of $50.</font></p> |
Common Stock (Narrative) (Detai
Common Stock (Narrative) (Details) - Common Stock [Member] | 9 Months Ended |
Sep. 30, 2018shares | |
Andrew Khor Poh Kiang [Member] | |
Shares cancelled, shares | (1,000,000) |
Agreement And Plan Of Merger With Abina Co. Ltd [Member] | |
Share issued as part of the agreement and plan of merger, shares | 111,000,000 |
Related Party Transactions (Nar
Related Party Transactions (Narrative) (Details) - USD ($) | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Related Party Transaction [Line Items] | ||||
Proceeds from directors | $ 7,180 | |||
Due to a related party | 74,979 | $ 50,270 | ||
Directors Of Abina Co. Ltd [Member] | ||||
Related Party Transaction [Line Items] | ||||
Proceeds from directors | $ 655,565 | |||
Due to a related party | $ 1,196,484 | |||
Debt terms | All loans are unsecured, non-interest bearing and due on demand</font></p>" id="sjs-B10"><p><font style="font-size: 10pt">All loans are unsecured, non-interest bearing and due on demand</font></p> | All loans are unsecured, non-interest bearing and due on demand</font></p>" id="sjs-E10"><p><font style="font-size: 10pt">All loans are unsecured, non-interest bearing and due on demand</font></p> | ||
Former Director - Richard Chiang [Member] | ||||
Related Party Transaction [Line Items] | ||||
Due to a related party | $ 990 | 990 | ||
A Related Party [Member] | ||||
Related Party Transaction [Line Items] | ||||
Due to a related party | $ 74,979 | $ 50,270 | ||
Debt terms | The funds are unsecured, non-interest bearing and due on demand. | The funds are unsecured, non-interest bearing and due on demand. |
Commitment (Narrative) (Details
Commitment (Narrative) (Details) - Lease Agreements For Office [Member] | 1 Months Ended |
Apr. 30, 2017USD ($) | |
Other Commitments [Line Items] | |
Operating lease descriptions | In April 2017 the Company entered into a two-year lease for its office facility in Chiang Rai, Thailand.</font></p>" id="sjs-B4"><p><font style="font-size: 10pt">In April 2017 the Company entered into a two-year lease for its office facility in Chiang Rai, Thailand.</font></p> |
Lease duration period | 2 years |
Monthly rent obligation | $ 963 |
Minimum rental payment for 2018 | 11,556 |
Minimum rental payment for 2019 | $ 2,889 |