Andes 7 10-K 4 May 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	May 02, 2017
Document And Entity Information
Entity Registrant Name	ANDES 7 INC.
Entity Central Index Key	1,650,205
Document Type	10-K
Document Period End Date	Dec. 31, 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 Public Float		$ 0
Entity Common Stock, Shares Outstanding		10,100,000
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,016

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Current Assets:
Cash	$ 0	$ 0
Total Current Assets	0	0
TOTAL ASSETS	0	0
Current Liabilities
Due to related parties	990	0
Accounts payable	0	1,619
Total Current Liabilities	990	1,619
TOTAL LIABILITIES	990	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	23,050	1,250
Accumulated deficit	(24,050)	(3,869)
Total Stockholders' Deficit	(990)	(1,619)
TOTAL LIABILITIES & STOCKHOLDERS' DEFICIT	$ 0	$ 0

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 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 - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Income Statement [Abstract]
Revenue	$ 0	$ 0
Operating Expenses:
General and administrative	20,181	3,869
Total operating expenses	20,181	3,869
Net loss from operations	(20,181)	(3,869)
Loss before income taxes	(20,181)	(3,869)
Provision for income taxes	0	0
Net Loss	$ (20,181)	$ (3,869)
Basic loss per share	$ 0	$ 0
Weighted average number of common shares outstanding	10,088,493	10,100,000

Shareholders Equity

Shareholders Equity - USD ($)	Common Stock	Additional Paid-In Capital	Stock Subscription Receivable	Accumulated Deficit	Total
Balance, shares at Dec. 31, 2014	0
Balance, value at Dec. 31, 2014	$ 0	$ 0	$ 0	$ 0	$ 0
Issuance of common stock for compensation, related party - shares	10,000,000
Issuance of common stock for compensation, related party - value	$ 1,000	0	0	0	1,000
Contributed capital	0	1,250	0	0	1,250
Net Loss	$ 0	0	0	(3,869)	$ (3,869)
Balance, shares at Dec. 31, 2015	10,000,000				10,000,000
Balance, value at Dec. 31, 2015	$ 1,000	1,250	0	(3,869)	$ (1,619)
Contributed capital	$ 0	21,800	0	0	21,800
Common stock returned - shares	9,900,000
Common stock returned - value	$ 990	0	0	0	990
Issuance of common stock for cash - shares	10,000,000
Issuance of common stock for cash - value	$ 1,000	0	(1,000)	0	0
Net Loss	$ 0	0	0	(20,181)	$ (20,181)
Balance, shares at Dec. 31, 2016	10,100,000				10,100,000
Balance, value at Dec. 31, 2016	$ 1,010	$ 23,050	$ (1,000)	$ (24,050)	$ (990)

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (20,181)	$ (3,869)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation - related party	0	1,000
Changes in operating assets and liabilities:
Accounts payable	(1,619)	1,619
Net cash used in operating activities	(21,800)	(1,250)
CASH FLOWS FROM INVESTING ACTIVITIES:	0	0
CASH FLOWS FROM FINANCING ACTIVITIES:
Contributed capital	21,800	1,250
Net cash provided by financing activities	21,800	1,250
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:
Common stock issued to founder for services rendered	0	1,000
Accounts payable credited to paid in capital	23,050	1,250
Related party payable for stock redemption	$ 990	$ 0

Note 1 - DESCRIPTION OF BUSINES

Note 1 - DESCRIPTION OF BUSINESS AND HISTORY	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
DESCRIPTION OF BUSINESS AND HISTORY	NOTE 1 - DESCRIPTION OF BUSINESS AND HISTORY Description of business ANDES 7 Inc., (the “Company”) was incorporated under the laws of the State of Delaware on July 27, 2015, and has been inactive since inception. The Company intends to serve as a vehicle to effect an asset acquisition, merger, exchange of capital stock or other business combination with a domestic or foreign 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. On January 31, 2017, the Company received a letter of resignation from Simon Chua Chooi Huat, its Secretary. There were no disagreements between the Company and Mr. Huat that led to his resignation, and on April 14, 2017, the Company elected Jannie Gui Honey as its Secretary.

Note 2 - SUMMARY OF SIGNIFICANT

Note 2 - SUMMARY OF SIGNIFICANT POLICIES	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Note 2 - SUMMARY OF SIGNIFICANT POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT POLICIES Basis of presentation The Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Use of estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) 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. Earnings (loss) per share Basic earnings (loss) per common share is computed by dividing net income (loss) available to common shareholders by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per common share is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period increased to include the number of additional shares of common stock that would have been outstanding if potentially dilutive securities had been issued. There were no potentially dilutive securities outstanding during the periods presented. Stock-based compensation The Company accounts for equity instruments issued in exchange for the receipt of goods or services from other than employees in accordance with Financial Accounting Standards Board(“FASB”) ASC 718-10, Compensation – Stock Compensation, and the conclusions reached by FASB ASC 505-50, Equity – Equity-Based Payments to Non-Employees. Costs are measured at the estimated fair market value of the consideration received or the estimated fair value of the equity instruments issued, whichever is more reliably measurable. The value of equity instruments issued for consideration other than employee services is determined on the earliest of a performance commitment or completion of performance by the provider of goods or services as defined by FASB ASC 505-50. Income taxes The Company follows Section 740-10-30 of the FASB Accounting Standards Codification, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are based on the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the fiscal year in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the fiscal years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the Statements of Income and Income in the period that includes the enactment date. 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 The Company has evaluated recent pronouncements through Accounting Standards Updates (“ASU”) 2015-08 and believes that none of them will have a material impact on the Company’s financial position, results of operations or cash flows.

Note 3 - GOING CONCERN

Note 3 - GOING CONCERN	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Note 3 - GOING CONCERN	NOTE 3 - GOING CONCERN The accompanying audited 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 $24,050 as of December 31, 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	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Note 4 - STOCKHOLDERS' EQUITY	NOTE 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. On February 12, 2016, the Company entered into 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. As of December 31, 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	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 5 - RELATED PARTY TRANSACTIONS As December 31, 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 (refer to Note 1). For the years ended December 31, 2016 and 2015, the founder shareholder has contributed capital to the Company for services rendered of $9,248 and $1,250, respectively. For the years ended December 31, 2016 and 2015, the CEO has contributed capital to the Company in the form of cash used for operating expenses of $12,552 and $0, respectively.

NOTE 6 - INCOME TAX

NOTE 6 - INCOME TAX	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
NOTE 6 - INCOME TAX	NOTE 6 – INCOME TAX Deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carry forwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. Net deferred tax assets consist of the following components as of December 31: 2016 2015 Deferred tax assets: NOL carryover $ (8,177) $ (1,315) Deferred tax liabilities: None Valuation allowance 8,177 1,315 Net deferred tax asset $ - $ - The income tax provision differs from the amount of income tax determined by applying the U.S. federal income tax rate to pretax income from continuing operations for the years ended December 31, 2016 and 2015 due to the following: 2016 2015 Book income (loss) $ 6,862 $ (1,315) Valuation allowance (6,862) 1,315 $ - $ - At December 31, 2016, the Company had net operating loss carry forwards of approximately $24,000 that may be offset against future taxable income from the year 2017 to 2036. No tax benefit has been reported in the December 31, 2016 financial statements since the potential tax benefit is offset by a valuation allowance of the same amount. Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards for Federal Income tax reporting purposes are subject to annual limitations. Should a change in ownership occur net operating loss carry forwards may be limited as to use in future years.

Note 7 - SUBSEQUENT EVENTS

Note 7 - SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2016
Subsequent Events [Abstract]
Note 7- SUBSEQUENT EVENTS	NOTE 7 - SUBSEQUENT EVENTS Management has evaluated subsequent events pursuant to the requirements of ASC Topic 855-10, Subsequent Events

Note 2 - SUMMARY OF SIGNIFICA14

Note 2 - SUMMARY OF SIGNIFICANT POLICIES (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	The Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Use of Estimates	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) 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.
Earnings (loss) per share	Basic earnings (loss) per common share is computed by dividing net income (loss) available to common shareholders by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per common share is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period increased to include the number of additional shares of common stock that would have been outstanding if potentially dilutive securities had been issued. There were no potentially dilutive securities outstanding during the periods presented.
Stock-based Compensation	The Company accounts for equity instruments issued in exchange for the receipt of goods or services from other than employees in accordance with Financial Accounting Standards Board(“FASB”) ASC 718-10, Compensation – Stock Compensation, and the conclusions reached by FASB ASC 505-50, Equity – Equity-Based Payments to Non-Employees. Costs are measured at the estimated fair market value of the consideration received or the estimated fair value of the equity instruments issued, whichever is more reliably measurable. The value of equity instruments issued for consideration other than employee services is determined on the earliest of a performance commitment or completion of performance by the provider of goods or services as defined by FASB ASC 505-50.
Income Taxes	The Company follows Section 740-10-30 of the FASB Accounting Standards Codification, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are based on the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the fiscal year in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the fiscal years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the Statements of Income and Income in the period that includes the enactment date. 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	The Company has evaluated recent pronouncements through Accounting Standards Updates (“ASU”) 2015-08 and believes that none of them will have a material impact on the Company’s financial position, results of operations or cash flows.

NOTE 6 - INCOME TAX (Tables)

NOTE 6 - INCOME TAX (Tables)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Schedule of Deferred Tax Assets	2016 2015 Deferred tax assets: NOL carryover $ (8,177) $ (1,315) Deferred tax liabilities: None Valuation allowance 8,177 1,315 Net deferred tax asset $ - $ -
Schedule of Valuation	2016 2015 Book income (loss) $ 6,862 $ (1,315) Valuation allowance (6,862) 1,315 $ - $ -

NOTE 6 - INCOME TAX - Schedule

NOTE 6 - INCOME TAX - Schedule of Deferred Tax Assets (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Deferred tax assets:
NOL carryover	$ 1,315	$ 8,177
Deferred tax liabilities:
None	0	0
Valuation allowance	6,862	1,315
Net deferred tax asset

NOTE 6 - INCOME TAX - Schedul17

NOTE 6 - INCOME TAX - Schedule of Valuation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Book income (loss)	$ 6,862	$ (1,315)
Valuation allowance	6,862	1,315
Provision for Income Taxes	$ 0	$ 0

Note 1 - DESCRIPTION OF BUSIN18

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

Note 3 - GOING CONCERN (Details

Note 3 - GOING CONCERN (Details Narrative) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated Deficit	$ (24,050)	$ (3,869)

Note 4 - STOCKHOLDERS' EQUITY (

Note 4 - STOCKHOLDERS' EQUITY (Details Narrative) - USD ($)	Dec. 31, 2016	Jul. 25, 2016	Dec. 31, 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
Founding [Member]
Common stock, shares issued		10,000,000
Common stock, value issued		$ 1,000

Note 5 - RELATED PARTY TRANSA21

Note 5 - RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Shares Redeemed, Value	$ 990	$ 0
Contibuted Capital	21,800	1,250
Chief Executive Officer [Member]
Contibuted Capital	0	12,552
Founding Investor [Member]
Contibuted Capital	$ 1,250	$ 9,248
Tech Associates [Member]
Shares Redeemed, Shares	9,900,000
Shares Redeemed, Value	$ 990

NOTE 6 - INCOME TAX (Details Na

NOTE 6 - INCOME TAX (Details Narrative) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Net loss carryforward	$ 1,315	$ 8,177