Andes 7 10-Q 9 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 07, 2016
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, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Accelerated Filer
Entity Common Stock, Shares Outstanding		10,100,000
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,016

Condensed Balance Sheets (Unaud

Condensed Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Current Assets:
Cash	$ 0	$ 0
Total Current Assets	0	0
TOTAL ASSETS	0	0
Current Liabilities
Due to related parties	8,617	0
Accounts payable	0	1,619
Total Current Liabilities	8,617	1,619
TOTAL LIABILITIES	8,617	1,619
Shareholders' Deficit:
Preferred stock, ($0.0001 par value, 5,000,000 shares authorized; none issued and outstanding.)	0	0
Common stock ($0.0001 par value, 100,000,000 shares authorized; 10,100,000 and 10,000,000 shares issued and outstanding, respectively)	1,010	1,000
Stock subscription receivable	(1,000)	0
Additional paid-in capital	7,794	1,250
Accumulated deficit	(16,421)	(3,869)
Total Stockholders' Deficit	(8,617)	(1,619)
TOTAL LIABILITIES & STOCKHOLDERS' DEFICIT	$ 0	$ 0

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Preferred Stock, par value	$ 0.0001	$ 0.0001
Preferred Stock, authorized	5,000,000	5,000,000
Preferred Stock, issued	0	0
Preferred Stock, outstanding	0	0
Common Stock, par value	$ 0.0001	$ 0.0001
Common Stock, authorized	100,000,000	100,000,000
Common Stock, issued	10,100,000	10,000,000
Common Stock, outstanding	10,100,000	10,000,000

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended	8 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016
Income Statement [Abstract]
Revenue	$ 0	$ 0	$ 0
Operating Expenses:
General and administrative	4,750	12,552	3,079
Total operating expenses	4,750	12,552	3,079
Net loss from operations	(4,750)	(12,552)	(3,079)
Loss before income taxes	(4,750)	(12,552)	(3,079)
Provision for income taxes	0	0	0
Net Loss	$ (4,750)	$ (3,079)	$ (12,552)
Basic loss per share	$ 0	$ 0	$ 0
Weighted average number of common shares outstanding	10,100,000	10,100,000	10,000,000

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	8 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (3,079)	$ (12,552)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation - related party	1,000	0
Changes in operating assets and liabilities:
Accounts payable	1,079	(1,619)
Net cash used in operating activities	(1,000)	(14,171)
CASH FLOWS FROM INVESTING ACTIVITIES:	0	0
CASH FLOWS FROM FINANCING ACTIVITIES:
Advances from related party	0	7,627
Contributed capital	1,000	6,544
Net cash provided by financing activities	1,000	14,171
Net increase (decrease) in cash	0	0
Cash at beginning of period	0	0
Cash at end of period	0	0
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Interest paid	0	0
Income taxes paid	0	0
NON-CASH FINANCING ACTIVITY:
Accounts payable credited to paid in capital	0	7,794
Related party payable for stock redemption	$ 0	$ 990

Note 1 - DESCRIPTION OF BUSINES

Note 1 - DESCRIPTION OF BUSINESS AND HISTORY	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
DESCRIPTION OF BUSINESS AND HISTORY	1. DESCRIPTION OF BUSINESS AND HISTORY Description of business 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. In addition, on February 12, 2016, Tech Associates, Inc. (“Tech”) was engaged to provide advisory and consulting services. Tech’s compensation is not based on the facilitation of or sale of securities; rather, Tech has been engaged to provide consulting services in the context of a “going public” strategy. Tech’s sole shareholder is Richard Chiang, who is a former control person of the Company by virtue of his prior controlling interest in the Company. In consideration of mutual releases between Richard Chiang and the Company, Mr. Chiang consented to the Company’s redemption of 9,900,000 shares at par value, i.e. $990, which had previously been issued to him in serving in director and officer capacities. The Company has no disputes or disagreements with Mr. Chiang. In order to effectuate the redemption, Mr. Chiang agreed to return the stock certificate representing the 10,000,000 shares previously issued in consideration of the issuance of a new stock certificate representing 100,000 shares of restricted common stock. Following the Consent, the Board of Directors accepted Mr. Chiang’s resignation from the Board of Directors as being in the best interests of the Company, and proceeded to appoint Mr. Andrew Khor Poh Kiang as Chairman of the Board pursuant to the Consent. In addition, Mr. Chiang resigned as the Company’s Chief Executive Officer, President, Secretary and Treasurer. On the same date as above, Andrew Khor Poh Kiang was named Chief Executive Officer and President, Lee Kok Keing was named Chief Financial Officer, Dr. Eric Chin Tek Mun was named Chief Operations Officer, Simon Chua Chooi Huat, was named Secretary, and Dr. Ng Mooi Eng was named Treasurer.

Note 2 - SUMMARY OF SIGNIFICANT

Note 2 - SUMMARY OF SIGNIFICANT POLICIES	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Note 2 - SUMMARY OF SIGNIFICANT POLICIES	2. SUMMARY OF SIGNIFICANT POLICIES Basis of presentation The interim unaudited financial statements present the balance sheets, statement of operations and cash flows of ANDES 7 Inc. The financial statements have been prepared in accordance with accounting principles generally accepted in the United States.In the opinion of management, all adjustments necessary to present fairly the financial position as of September 30, 2016 and the results of operations and cash flows presented herein have been included in the financial statements. All such adjustments are of a normal and recurring nature. Interim results are not necessarily indicative of results of operations for the full year. Use of estimates Earnings (loss) per share Stock-based compensation Income taxes The Company adopted section 740-10-25 of the FASB Accounting Standards Codification (“Section 740-10-25”) with regards to uncertainty income taxes. Section 740-10-25 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under Section 740-10-25, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent (50%) likelihood of being realized upon ultimate settlement. Section 740-10-25 also provides guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods and requires increased disclosures. The Company had no material adjustments to its liabilities for unrecognized income tax benefits according to the provisions of Section 740-10-25. Recent Accounting Pronouncements

Note 3 - GOING CONCERN

Note 3 - GOING CONCERN	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Note 3 - GOING CONCERN	3. 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 has incurred losses since inception and had a deficit accumulated of $16,421 as of September 30, 2016. The Company requires capital for its contemplated operational and marketing activities. The Company’s ability to raise additional capital through the future issuances of common stock is unknown. The obtainment of additional financing, the successful development of the Company’s contemplated plan of operations, and its transition, ultimately, to the attainment of profitable operations are necessary for the Company to continue operations. The ability to successfully resolve these factors raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements of the Company do not include any adjustments that may result from the outcome of these aforementioned uncertainties.

Note 4 - STOCKHOLDERS' EQUITY

Note 4 - STOCKHOLDERS' EQUITY	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Note 4 - STOCKHOLDERS' EQUITY	4. STOCKHOLDERS’ EQUITY Preferred Stock Common Stock Upon formation of the Company on July 27, 2015, the Board of Directors issued 10,000,000 shares of common stock for $1,000 in services to the founding shareholder of the Company. In addition, the founding shareholder has made contributions of $1,619 and $1,250 to the Company for the period ended September 30, 2016 and December 31, 2015, respectively which is recorded as additional paid-in capital. On February 12, 2016, the Company entered into a Subscription Agreements with three subscribers for the issuance of 10,000,000 shares of restricted common stock at par value of $0.0001 for total proceeds of $1,000 (refer to Note 1). As of September 30, 2016 the proceeds have not yet been collected and have been debited to stock subscription receivable.

Note 5 - RELATED PARTY TRANSACT

Note 5 - RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2016
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	5. RELATED PARTY TRANSACTIONS As September 30, 2016, 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. As of September 30, 2016, and December 31, 2015, the Company owed its CEO $7,627 and $0, respectively for cash advances that were used for certain operating expenses. The advancesare unsecured, non-interest bearing and due upon demand. The CEO has also contributed $4,925 of capital for operating expenses.

Note 6 - SUBSEQUENT EVENTS

Note 6 - SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
Note 6 - SUBSEQUENT EVENTS	6. SUBSEQUENT EVENTS Management has evaluated subsequent events up to and including November 7, 2016, which is the date the statements were made available for issuance and determined there are no reportable subsequent events.

Note 2 - SUMMARY OF SIGNIFICA12

Note 2 - SUMMARY OF SIGNIFICANT POLICIES (Policies)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of presentation The interim unaudited financial statements present the balance sheets, statement of operations and cash flows of ANDES 7 Inc. The financial statements have been prepared in accordance with accounting principles generally accepted in the United States. The interim financial information is unaudited. In the opinion of management, all adjustments necessary to present fairly the financial position as of September 30, 2016 and the results of operations and cash flows presented herein have been included in the financial statements. All such adjustments are of a normal and recurring nature. Interim results are not necessarily indicative of results of operations for the full year.
Use of Estimates	Use of estimates
Earnings (loss) per share	Earnings (loss) per share
Stock-based Compensation	Stock-based compensation
Income Taxes	Income taxes The Company adopted section 740-10-25 of the FASB Accounting Standards Codification (“Section 740-10-25”) with regards to uncertainty income taxes. Section 740-10-25 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under Section 740-10-25, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent (50%) likelihood of being realized upon ultimate settlement. Section 740-10-25 also provides guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods and requires increased disclosures. The Company had no material adjustments to its liabilities for unrecognized income tax benefits according to the provisions of Section 740-10-25.
Recent Accounting Pronouncements	Recent Accounting Pronouncements

Note 1 - DESCRIPTION OF BUSINE

Note 1 - DESCRIPTION OF BUSINESS AND HISTORY (Details Narrative) - shares	Sep. 30, 2016	Feb. 12, 2016	Dec. 31, 2015
Restricted shares of common stock issued	10,100,000		10,000,000
Investor [Member]
Restricted shares of common stock issued		8,000,000
Toh Kean Ban
Restricted shares of common stock issued		1,000,000
Tochija
Restricted shares of common stock issued		1,000,000

Note 3 - GOING CONCERN (Details

Note 3 - GOING CONCERN (Details Narrative) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated Deficit	$ (16,421)	$ (3,869)

Note 4 - STOCKHOLDERS' EQUITY (

Note 4 - STOCKHOLDERS' EQUITY (Details Narrative) - USD ($)	Sep. 30, 2016	Jul. 25, 2016	Dec. 31, 2015	Sep. 30, 2015
Preferred stock, authorized	5,000,000		5,000,000
Preferred stock, par value	$ 0.0001		$ 0.0001
Common stock, shares authorized	100,000,000		100,000,000
Common stock, par value	$ 0.0001		$ 0.0001
Common stock, shares issued	10,100,000		10,000,000
Common stock, shares outstanding	10,100,000		10,000,000
Common stock, value issued	$ 1,010		$ 1,000
Additional Paid in Capital	7,794		$ 1,250	$ 0
Founding Shareholder
Common stock, shares issued		10,000,000
Common stock, value issued		$ 1,000
Additional Paid-in Capital [Member]
Additional Paid in Capital	$ 1,619

Note 5 - RELATED PARTY TRANSAC

Note 5 - RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	8 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2016	Dec. 31, 2015
Proceeds from related party	$ 0	$ 7,627	$ 0
Contibuted Capital	$ 1,000	6,544
Founding Shareholder
Contibuted Capital		4,925
Tech Associates [Member]
Value of Shares Redeemed by Tech Associates		$ 990