Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | |
May 31, 2018 | Aug. 24, 2018 | |
Document And Entity Information | ||
Entity Registrant Name | CAPSTONE SYSTEMS INC. | |
Entity Central Index Key | 1,651,577 | |
Document Type | 10-K | |
Document Period End Date | May 31, 2018 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --05-31 | |
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 Company | |
Entity Public Float | $ 0 | |
Entity Common Stock, Shares Outstanding | 5,085,000 | |
Document Fiscal Period Focus | FY | |
Document Fiscal Year Focus | 2,018 |
BALANCE SHEETS
BALANCE SHEETS - USD ($) | May 31, 2018 | May 31, 2017 |
Current assets | ||
Cash | $ 4,295 | |
Prepaid expense | 209 | |
Total current assets | 209 | 4,295 |
Fixed assets, net | 6,026 | |
Total assets | 209 | 10,321 |
Current liabilities | ||
Accounts payable & accrued liabilities | 11,400 | |
Loan payable - related party | 100 | |
Due to related party | 35,432 | |
Income tax payable | 2,089 | |
Total liabilities | 46,832 | 2,189 |
COMMITMENTS AND CONTINGENCIES | ||
Stockholders' deficiency | ||
Common stock, $0.001 par value, 75,000,000 shares authorized, 5,085,000 shares issued and outstanding as of May 31, 2018 and 2017, respectively | 5,085 | 5,085 |
Additional paid-in capital | 35,781 | 42,315 |
Accumulated deficit | (87,489) | (39,268) |
Total stockholders' equity/(deficiency) | (46,623) | 8,132 |
Total liabilities and stockholders' deficiency | $ 209 | $ 10,321 |
BALANCE SHEETS (Parenthetical)
BALANCE SHEETS (Parenthetical) - $ / shares | May 31, 2018 | May 31, 2017 |
Stockholders' deficiency | ||
Common stock par value | $ 0.001 | $ 0.001 |
Common stock shares authorized | 75,000,000 | 75,000,000 |
Common stock shares issued | 5,085,000 | 5,085,000 |
Common stock shares outstanding | 5,085,000 | 5,085,000 |
STATEMENT OF OPERATIONS
STATEMENT OF OPERATIONS - USD ($) | 12 Months Ended | |
May 31, 2018 | May 31, 2017 | |
REVENUES | ||
Merchandise Sales | $ 30,258 | $ 175,979 |
TOTAL REVENUES | 30,258 | 175,979 |
COST OF SALES | ||
Purchases | 29,549 | 144,728 |
TOTAL COST OF GOODS SOLD | 29,549 | 144,728 |
GROSS PROFIT | 709 | 31,251 |
OPERATING EXPENSES: | ||
General and administrative | 51,018 | 23,947 |
Product Development | 43,428 | |
TOTAL OPERATING EXPENSES | 51,018 | 67,375 |
OTHER INCOME/(EXPENSES): | ||
Other Income | 2,088 | |
LOSS BEFORE INCOME TAXES | (48,221) | (36,124) |
PROVISION FOR INCOME TAX | ||
NET LOSS | $ (48,221) | $ (36,124) |
NET LOSS PER BASIC AND DILUTED SHARES | $ (0.01) | $ (0.01) |
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING | 5,085,000 | 5,085,000 |
STATEMENT OF CHANGES OF STOCKHO
STATEMENT OF CHANGES OF STOCKHOLDERS' EQUITY/(DEFICIT) - USD ($) | Common Stock | Additional Paid In Capital | Subscription Receivable | Accumulated Deficit | Total |
Beginning Balance, Shares at May. 31, 2016 | 5,085,000 | ||||
Beginning Balance, Amount at May. 31, 2016 | $ 5,085 | $ 42,315 | $ (43,400) | $ (3,144) | $ 856 |
Cash received for stock issuance | 43,400 | 43,400 | |||
Net loss | (36,124) | (36,124) | |||
Ending Balance, Shares at May. 31, 2017 | 5,085,000 | ||||
Ending Balance, Amount at May. 31, 2017 | $ 5,085 | 42,315 | (39,268) | 8,132 | |
Related party debt conversion | (6,534) | (6,534) | |||
Net loss | (48,221) | (48,221) | |||
Ending Balance, Shares at May. 31, 2018 | 5,085,000 | ||||
Ending Balance, Amount at May. 31, 2018 | $ 5,085 | $ 35,781 | $ (87,489) | $ (46,623) |
STATEMENT OF CASH FLOWS
STATEMENT OF CASH FLOWS - USD ($) | 12 Months Ended | |
May 31, 2018 | May 31, 2017 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net Loss | $ (48,221) | $ (36,124) |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation | 200 | |
Increase in Prepaid Expenses | (209) | |
Increase in Deferred Cost of Goods Sold | 34,801 | |
Increase in Accounts Payable and Accrued Liabilities | 8,703 | |
Decreased in Unearned Revenue | (38,205) | |
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES | (39,727) | (39,328) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchase of Property | ||
NET CASH (USED IN) INVESTING ACTIVITIES | ||
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Subscription Receivable | 43,400 | |
Due to related party | 35,432 | |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 35,432 | 43,400 |
NET (DECREASE)/INCREASE IN CASH | (4,295) | 4,072 |
CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR | 4,295 | 223 |
CASH AND CASH EQUIVALENTS - ENDING OF YEAR | 4,295 | |
NON-CASH FINANCING ACTIVITIES | ||
Reduction in additional paid in capital as a result of assignment of assets and liabilities to former shareholder | 6,534 | |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||
Cash paid for income taxes | ||
Cash received for interest income | ||
Cash paid for interest expense |
Organization and Basis of Prese
Organization and Basis of Presentation | 12 Months Ended |
May 31, 2018 | |
Notes to Financial Statements | |
NOTE 1 - Organization and Basis of Presentation | Capstone Systems Inc. (the “Company”) is a for profit corporation established under the Corporation Laws of the State of Nevada on April 1, 2015. The address of our business office is Yun Gu Hui, International Financial Center, 42nd Floor, Hangzhou Street 1, Qinhuai District, Nanjing, Jiangsu Province, China. We maintain our statutory registered agent's office at 525 Swallow Cove, Boulder City, NV 89005. We plan to expand our business in the wholesale distribution of kitchen cabinets in the USA. The Company is subject to all risks inherent to the establishment of a start-up business enterprise. Our financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States, and are expressed in U.S. dollars. All transactions including purchases, sales and current financing is in U.S. dollars. The Company’s fiscal year-end is May 31st. |
Significant Accounting Policies
Significant Accounting Policies and Recent Accounting Pronouncements | 12 Months Ended |
May 31, 2018 | |
Notes to Financial Statements | |
NOTE 2 - Significant Accounting Policies and Recent Accounting Pronouncements | Use of Estimates and Assumptions The preparation of financial statements in conformity with generally accepted accounting principles 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 period. Actual results could differ from those estimates. Due to the limited level of operations, the Company has not had to make material assumptions or estimates other than the assumption that the Company is a going concern. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Fair Value of Financial Instruments ASC 825, “Disclosures about Fair Value of Financial Instruments”, requires disclosure of fair value information about financial instruments. ASC 820, “Fair Value Measurements” defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of May 31, 2018. The respective carrying values of certain on-balance-sheet financial instruments approximate their fair values. These financial instruments include cash, accrued liabilities and notes payable. Fair values were assumed to approximate carrying values for these financial instruments since they are short term in nature and their carrying amounts approximate fair value. Basic and Diluted Loss Per Share The Company computes earnings (loss) per share in accordance with ASC 260-10-45 “Earnings per Share”, which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic earnings (loss) per share is computed by dividing net earnings (loss) available to common stockholders by the weighted average number of outstanding common shares during the period. Diluted earnings (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive earnings (loss) per share excludes all potential common shares if their effect is anti-dilutive. The Company has no potential dilutive instruments, and therefore, basic and diluted earnings (loss) per share are equal. The following table sets forth the computation of basic earnings (loss) per share, for the year ended May 31, 2018 and 2017: 2018 2017 Net loss $ (48,221 ) $ (36,124 ) Weighted average common shares outstanding (basic and diluted) 5,085,000 5,085,000 Net loss per common share, basic and diluted $ (0.01 ) $ (0.01 ) Revenue Recognition The Company’s office is currently based in Nanjing, PRC, but we utilize the U.S. dollar as our functional currency. The company follows the guidelines of ASC 605-15 for revenue recognition. Revenue is recognized when all the following conditions have been met: 1. Pervasive evidence of an arrangement exists: an order has been placed and the customer has prepaid for the product; 2. Delivery has occurred or services have been rendered: the product has been shipped from either the Company or one of our suppliers; the product has been delivered and signed for by the customer as evidenced by the shipping company. 3. Seller’s price to the buyer is fixed or determinable: the price is fixed at the time of the order and the customer has prepaid prior to shipping; and 4. Collectability is reasonable assured: the customer has prepaid for the product prior to shipping. Customers are allowed to return the products within 30 days for exchange or refund if defects in manufacturing are identified. Prior to the expiration of the 30 day exchange or refund period the cash received is recorded as unrecognized revenue. Deferred revenue and deferred cost of goods sold result from transactions where the Company has accepted prepayment for the product but all revenue recognition criteria have not yet been met, such as shipped product from the supplier has not arrived at the client for delivery. Deferred cost of goods sold related to deferred product revenues includes direct product costs. Once all revenue recognition criteria have been met, the deferred revenues and associated cost of goods sold are recognized. Advertising Advertising expenses for the years ended May 31, 2018 and 2017 were $0 and $0, respectively. Recent Accounting Pronouncements In January 2017, the FASB issued guidance which simplifies the accounting for goodwill impairment. The updated guidance eliminates Step 2 of the impairment test, which requires entities to calculate the implied fair value of goodwill to measure a goodwill impairment charge. Instead, entities will record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value, determined in Step 1. The Company is currently evaluating the impact on the financial statements of this guidance. In January 2017, the FASB amended the existing accounting standards for business combinations. The amendments clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The Company is currently evaluating the impact on the financial statements of this guidance. |
Going Concern
Going Concern | 12 Months Ended |
May 31, 2018 | |
Notes to Financial Statements | |
NOTE 3 - Going Concern | The accompanying financial statements and notes have been prepared assuming that the Company will continue as a going concern. For the period from inception to May 31, 2018, the Company had accumulated deficit of $87,489. The Company’s ability to continue as a going concern is dependent upon the Company’s ability to generate sufficient revenues to operate profitably or raise additional capital through debt financing and/or through sales of common stock. Management has funded operations from sales and through the proceeds from an offering pursuant to a Registration Statement on Form S-1 or private placements of restricted securities or the issuance of stock in lieu of cash for payment of services until such a time as profitable operations are achieved. Directors and related parties may from time to lend funds to the Company to fund operations. There are no written agreements in place for such funding or issuance of securities and there can be no assurance that such will be available in the future. Management believes that this plan provides an opportunity for the Company to continue as a going concern. The failure to achieve the necessary levels of profitability or obtain the additional funding would be detrimental to the Company. |
Debt
Debt | 12 Months Ended |
May 31, 2018 | |
Notes to Financial Statements | |
NOTE 4 - Debt | In April 2015, the former director and president of the Company made the initial deposit to the Company’s bank account in the amount $100, which was being carried as a loan payable. The loan was non-interest bearing, unsecured and due upon demand. On September 19, 2017, the former shareholder, Mr. Jure Perko, entered into an assignment agreement with the Company whereby all assets were transferred to him, and liabilities were assumed by him, and the net difference were treated as a reduction in additional paid in capital. As a result, the Company is no longer liable for the payable to related party. |
Capital Stock
Capital Stock | 12 Months Ended |
May 31, 2018 | |
Notes to Financial Statements | |
NOTE 5 - Capital Stock | The Company has 75,000,000 shares of common stock with a par value of $0.001 per share. On May 11, 2015 the Company issued 4,000,000 shares of common stock for a purchase price of $0.001 per share to its sole director. The Company received aggregate gross proceeds of $4,000. In May 2016, the Company, pursuant to a Registration Statement on Form S-1, sold 1,085,000 shares to 31 independent shareholders for total proceeds of $43,400. As of May 31, 2018, there were no outstanding stock options or warrants. |
Income Taxes
Income Taxes | 12 Months Ended |
May 31, 2018 | |
Notes to Financial Statements | |
NOTE 6 - Income Taxes | We use the asset and liability method of accounting for income taxes in accordance with ASC Topic 740, “Income Taxes.” Under this method, income tax expense is recognized for the amount of: (i) taxes payable or refundable for the current year and (ii) deferred tax consequences of temporary differences resulting from matters that have been recognized in an entity’s financial statements or tax returns. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the 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 results of operations in the period that includes the enactment date. A valuation allowance is provided to reduce the deferred tax assets reported if based on the weight of the available positive and negative evidence, it is more likely than not some portion or all of the deferred tax assets will not be realized. ASC Topic 740-10-30 clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. ASC Topic 740-10-40 provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. We have no material uncertain tax positions for any of the reporting periods presented. The corporate tax rate for fiscal year 2018 will be 21%, which we expect to be fairly consistent in the near term. Our tax rate may also be affected by discrete items that may occur in any given year, but are not consistent from year to year. Income taxes are calculated and accrued for U.S. taxes only. We are not required to pay corporate taxes in Slovenia until our 3 rd The Company over accrued $2,089 in Income Taxes Payable for the year ended May 31, 2015. The Company has reversed the over accrual during the year ended May 31, 2018 and recorded the reversal as other income. |
Fixed Assets
Fixed Assets | 12 Months Ended |
May 31, 2018 | |
Notes to Financial Statements | |
NOTE 7 - Fixed Assets | In April 2015, the Company purchased for $6,515 a small office located at 242 Dolenjska cesta, Ljubljana, Slovenia, 10001. The Company utilizes the space as a primary office. The price of the building was $4,000 and the land was $2,515. Fixed assets are stated at cost. The Company utilizes straight-line depreciation over the estimated useful life of the asset. Buildings – 15 years Office Equipment – 7 years Depreciation expense for the building for the years ended May 31, 2018 and 2017 was $0 and $133, respectively. On September 19, 2017, the former shareholder, Mr. Jure Perko, entered into an assignment agreement with the Company whereby all assets were transferred to him, and liabilities were assumed by him. Accordingly, the Company has waived its rights and title to aforementioned fixed assets. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
May 31, 2018 | |
Notes to Financial Statements | |
NOTE 8 - Related Party Transactions | The Company had related party transactions involving the Company’s former director. The nature and details of the transaction are described in Note 4 and Note 5. As of May 31, 2018, the current director, Mr. Xu, Jiyuan has advanced the Company $35,432 to fund operations. The advances bear no interest, and are due upon demand. |
Concentration Risk
Concentration Risk | 12 Months Ended |
May 31, 2018 | |
Notes to Financial Statements | |
NOTE 9 - Concentration Risk | The Company had only one customer and the Company ordered from only one vendor. As we grow we expect to increase the number of customers and vendors we have, however; at this time there is a risk to the company if we lose either our customer or vendor. |
Research and Development
Research and Development | 12 Months Ended |
May 31, 2018 | |
Notes to Financial Statements | |
NOTE 10 - Research and Development | All expenses related to our brand are recorded as Research and Development expenses in accordance with GAAP and are expensed as incurred. |
Subsequent Events
Subsequent Events | 12 Months Ended |
May 31, 2018 | |
Notes to Financial Statements | |
NOTE 11 - Subsequent Events | The Company evaluates subsequent events that have occurred after the balance sheet date but before the financial statements are issued. There are two types of subsequent events: (1) recognized, or those that provide additional evidence with respect to conditions that existed at the date of the balance sheet, including the estimates inherent in the process of preparing financial statements, and (2) non-recognized, or those that provide evidence with respect to conditions that did not exist at the date of the balance sheet but arose subsequent to that date. |
Significant Accounting Polici18
Significant Accounting Policies and Recent Accounting Pronouncements (Policies) | 12 Months Ended |
May 31, 2018 | |
Significant Accounting Policies And Recent Accounting Pronouncements | |
Use of Estimates and Assumptions | The preparation of financial statements in conformity with generally accepted accounting principles 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 period. Actual results could differ from those estimates. Due to the limited level of operations, the Company has not had to make material assumptions or estimates other than the assumption that the Company is a going concern. |
Cash and Cash Equivalents | The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. |
Fair Value of Financial Instruments | ASC 825, “Disclosures about Fair Value of Financial Instruments”, requires disclosure of fair value information about financial instruments. ASC 820, “Fair Value Measurements” defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of May 31, 2018. The respective carrying values of certain on-balance-sheet financial instruments approximate their fair values. These financial instruments include cash, accrued liabilities and notes payable. Fair values were assumed to approximate carrying values for these financial instruments since they are short term in nature and their carrying amounts approximate fair value. |
Basic and Diluted Loss Per Share | The Company computes earnings (loss) per share in accordance with ASC 260-10-45 “Earnings per Share”, which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic earnings (loss) per share is computed by dividing net earnings (loss) available to common stockholders by the weighted average number of outstanding common shares during the period. Diluted earnings (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive earnings (loss) per share excludes all potential common shares if their effect is anti-dilutive. The Company has no potential dilutive instruments, and therefore, basic and diluted earnings (loss) per share are equal. The following table sets forth the computation of basic earnings (loss) per share, for the year ended May 31, 2018 and 2017: 2018 2017 Net loss $ (48,221 ) $ (36,124 ) Weighted average common shares outstanding (basic and diluted) 5,085,000 5,085,000 Net loss per common share, basic and diluted $ (0.01 ) $ (0.01 ) |
Revenue Recognition | The Company’s office is currently based in Nanjing, PRC, but we utilize the U.S. dollar as our functional currency. The company follows the guidelines of ASC 605-15 for revenue recognition. Revenue is recognized when all the following conditions have been met: 1. Pervasive evidence of an arrangement exists: an order has been placed and the customer has prepaid for the product; 2. Delivery has occurred or services have been rendered: the product has been shipped from either the Company or one of our suppliers; the product has been delivered and signed for by the customer as evidenced by the shipping company. 3. Seller’s price to the buyer is fixed or determinable: the price is fixed at the time of the order and the customer has prepaid prior to shipping; and 4. Collectability is reasonable assured: the customer has prepaid for the product prior to shipping. Customers are allowed to return the products within 30 days for exchange or refund if defects in manufacturing are identified. Prior to the expiration of the 30 day exchange or refund period the cash received is recorded as unrecognized revenue. Deferred revenue and deferred cost of goods sold result from transactions where the Company has accepted prepayment for the product but all revenue recognition criteria have not yet been met, such as shipped product from the supplier has not arrived at the client for delivery. Deferred cost of goods sold related to deferred product revenues includes direct product costs. Once all revenue recognition criteria have been met, the deferred revenues and associated cost of goods sold are recognized. |
Advertising | Advertising expenses for the years ended May 31, 2018 and 2017 were $0 and $0, respectively. |
Recent Accounting Pronouncements | In January 2017, the FASB issued guidance which simplifies the accounting for goodwill impairment. The updated guidance eliminates Step 2 of the impairment test, which requires entities to calculate the implied fair value of goodwill to measure a goodwill impairment charge. Instead, entities will record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value, determined in Step 1. The Company is currently evaluating the impact on the financial statements of this guidance. In January 2017, the FASB amended the existing accounting standards for business combinations. The amendments clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The Company is currently evaluating the impact on the financial statements of this guidance. |
Significant Accounting Polici19
Significant Accounting Policies and Recent Accounting Pronouncements (Tables) | 12 Months Ended |
May 31, 2018 | |
Significant Accounting Policies And Recent Accounting Pronouncements Tables Abstract | |
Computation of basic earnings (loss) per share | 2018 2017 Net loss $ (48,221 ) $ (36,124 ) Weighted average common shares outstanding (basic and diluted) 5,085,000 5,085,000 Net loss per common share, basic and diluted $ (0.01 ) $ (0.01 ) |
Organization and Basis of Pre20
Organization and Basis of Presentation (Details Narrative) | 12 Months Ended |
May 31, 2018 | |
Organization And Basis Of Presentation | |
State of incorporation | Nevada |
Date of incorporation | Apr. 1, 2015 |
Significant Accounting Polici21
Significant Accounting Policies and Recent Accounting Pronouncements (Details) - USD ($) | 12 Months Ended | |
May 31, 2018 | May 31, 2017 | |
Significant Accounting Policies And Recent Accounting Pronouncements Details Abstract | ||
Net loss | $ (48,221) | $ (36,124) |
Weighted average common shares outstanding (basic and diluted) | 5,085,000 | 5,085,000 |
Net loss per common share, basic and diluted | $ (0.01) | $ (0.01) |
Significant Accounting Polici22
Significant Accounting Policies and Recent Accounting Pronouncements (Details Narrative) - USD ($) | 12 Months Ended | |
May 31, 2018 | May 31, 2017 | |
Significant Accounting Policies And Recent Accounting Pronouncements Details Narrative Abstract | ||
Advertising expenses | $ 0 | $ 0 |
Going Concern (Details Narrativ
Going Concern (Details Narrative) - USD ($) | May 31, 2018 | May 31, 2017 |
Going Concern | ||
Accumulated deficit | $ (87,489) | $ (39,268) |
Debt (Details Narrative)
Debt (Details Narrative) - USD ($) | May 31, 2018 | May 31, 2017 | Apr. 30, 2015 |
Loan payable - related party | $ 100 | ||
Director and President [Member] | |||
Loan payable - related party | $ 100 |
Capital Stock (Details Narrativ
Capital Stock (Details Narrative) | May 11, 2015USD ($)$ / sharesshares | May 31, 2018USD ($)$ / sharesshares | May 31, 2017USD ($)$ / sharesshares | May 31, 2016USD ($)Integershares |
Common stock par value | $ / shares | $ 0.001 | $ 0.001 | ||
Common stock shares authorized | 75,000,000 | 75,000,000 | ||
Common stock shares issued | 5,085,000 | 5,085,000 | ||
Proceeds from issuance of common stock | $ | $ 43,400 | |||
Director [Member] | ||||
Common stock shares issued | 4,000,000 | |||
Shares issued, price per share | $ / shares | $ 0.001 | |||
Proceeds from issuance of common stock | $ | $ 4,000 | |||
Independent Shareholders [Member] | ||||
Common stock shares issued | 1,085,000 | |||
Proceeds from issuance of common stock | $ | $ 43,400 | |||
Number of independent shareholders | Integer | 31 |
Income Taxes (Details Narrative
Income Taxes (Details Narrative) - USD ($) | 12 Months Ended | ||
May 31, 2018 | May 31, 2017 | May 31, 2015 | |
Income Taxes | |||
Effective income tax rate | 21.00% | ||
Income taxes payable | $ 2,089 | $ 2,089 |
Fixed Assets (Details Narrative
Fixed Assets (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | |
Apr. 30, 2015 | May 31, 2018 | May 31, 2017 | |
Depreciation expense | $ 200 | ||
Purchase price of Building & Land | $ 6,515 | ||
Building [Member] | |||
Estimated useful life of the asset | 15 years | ||
Depreciation expense | $ 0 | $ 133 | |
Purchase price of Building & Land | 4,000 | ||
Land [Member] | |||
Purchase price of Building & Land | $ 2,515 | ||
Office Equipment [Member] | |||
Estimated useful life of the asset | 7 years |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - USD ($) | May 31, 2018 | May 31, 2017 |
Due to related party | $ 35,432 | |
Director [Member] | ||
Due to related party | $ 35,432 |