Cover
Cover - shares | 3 Months Ended | |
Jun. 30, 2020 | Aug. 10, 2020 | |
Cover [Abstract] | ||
Entity Registrant Name | XENOUS HOLDINGS, INC. | |
Entity Central Index Key | 0001651932 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Current Fiscal Year End Date | --03-31 | |
Entity Small Business | true | |
Entity Shell Company | true | |
Entity Emerging Growth Company | false | |
Entity Current Reporting Status | Yes | |
Document Period End Date | Jun. 30, 2020 | |
Entity Filer Category | Non-accelerated Filer | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2020 | |
Entity Common Stock Shares Outstanding | 760,250,000 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity Interactive Data Current | No |
Condensed Balance Sheets
Condensed Balance Sheets - USD ($) | Jun. 30, 2020 | Mar. 31, 2020 |
Current Assets | ||
Total Current Assets | $ 0 | $ 0 |
TOTAL ASSETS | 0 | 0 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 9,274 | 6,130 |
Due to related party | 597,192 | 557,067 |
Total Current Liabilities | 606,466 | 563,197 |
TOTAL LIABILITIES | 606,466 | 563,197 |
STOCKHOLDERS' DEFICIT | ||
Preferred stock, par value $0.001 per share, 10,000,000 shares authorized, no shares issued and outstanding | 0 | 0 |
Common stock, par value $0.001 per share, 10,000,000,000 shares authorized, 760,250,000 shares issued and outstanding | 760,250 | 760,250 |
Capital deficiency | (449,450) | (449,450) |
Accumulated deficit | (917,266) | (873,997) |
Total Stockholders' Deficit | (606,466) | (563,197) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 0 | $ 0 |
Condensed Balance Sheets (Paren
Condensed Balance Sheets (Parenthetical) - $ / shares | Jun. 30, 2020 | Mar. 31, 2020 |
STOCKHOLDERS' DEFICIT | ||
Preferred stock, shares par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, shares par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 10,000,000,000 | 10,000,000,000 |
Common stock, shares issued | 760,250,000 | 760,250,000 |
Common stock, shares outstanding | 760,250,000 | 760,250,000 |
Condensed Statements of Operati
Condensed Statements of Operations - USD ($) | 3 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Condensed Statements of Operations | ||
REVENUES | $ 0 | $ 0 |
OPERATING EXPENSES | ||
General and administrative | 11,269 | 3,144 |
Professional fees | 32,000 | 12,500 |
OPERATING EXPENSES | 43,269 | 15,644 |
OPERATING LOSS | (43,269) | (15,644) |
OTHER EXPENSE | ||
Interest expense | 0 | (2,120) |
TOTAL OTHER EXPENSE | 0 | (2,120) |
NET LOSS | $ (43,269) | $ (17,764) |
Basic and Diluted Loss per Common Share | $ 0 | $ 0 |
Basic and Diluted Weighted Average Number of Common Shares | 760,250,000 | 760,250,000 |
Condensed Statements of Changes
Condensed Statements of Changes in Stockholders' Deficit - USD ($) | Total | Capital Deficiency | Common Stock | Accumulated Deficit |
Balance, shares at Mar. 31, 2019 | 760,250,000 | |||
Balance, amount at Mar. 31, 2019 | $ (499,278) | $ (449,450) | $ 760,250 | $ (810,078) |
Net loss | (17,764) | 0 | $ 0 | (17,764) |
Balance, shares at Jun. 30, 2019 | 760,250,000 | |||
Balance, amount at Jun. 30, 2019 | (517,042) | (449,450) | $ 760,250 | (827,842) |
Balance, shares at Mar. 31, 2020 | 760,250,000 | |||
Balance, amount at Mar. 31, 2020 | (563,197) | (449,450) | $ 760,250 | (873,997) |
Net loss | (43,269) | 0 | $ 0 | (43,269) |
Balance, shares at Jun. 30, 2020 | 760,250,000 | |||
Balance, amount at Jun. 30, 2020 | $ (606,466) | $ (449,450) | $ 760,250 | $ (917,266) |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows - USD ($) | 3 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (43,269) | $ (17,764) |
Changes in operating assets and liabilities: | ||
Prepaid expenses | 0 | 3,000 |
Accounts payable and accrued liabilities | 3,144 | (2,911) |
Accrued interest, related party | 0 | 2,120 |
Net cash used in operating activities | (40,125) | (15,555) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from related party advances | 40,125 | 15,555 |
Net cash provided by financing activities | 40,125 | 15,555 |
Net changes in cash and cash equivalents | 0 | 0 |
Cash and cash equivalents - beginning of period | 0 | 0 |
Cash and cash equivalents - end of period | 0 | 0 |
Supplemental Cash Flow Disclosures | ||
Cash paid for interest | 0 | 0 |
Cash paid for income taxes | $ 0 | $ 0 |
NATURE OF BUSINESS AND CONTINUA
NATURE OF BUSINESS AND CONTINUANCE OF OPERATIONS | 3 Months Ended |
Jun. 30, 2020 | |
NATURE OF BUSINESS AND CONTINUANCE OF OPERATIONS | |
NOTE 1 - NATURE OF BUSINESS AND CONTINUANCE OF OPERATIONS | Xenous Holdings, Inc. (the “Company”) was incorporated on May 20, 1980 as Dayne Weiss and Associates, Inc. under the laws of the State of Utah. On December 19, 2014, the Company completed a change of domicile merger with Concept Holding Corp., a Nevada corporation, which became the surviving entity. On July 21, 2017, the Board of Directors of the Company elected to file Articles of Merger with the Nevada SOS whereby it would enter into a statutory merger with its wholly-owned subsidiary, M101 Corp., a Nevada corporation, pursuant to Nevada Revised Statutes 92A.200, et seq. The effect of such merger is the Company is the surviving entity and changed its name to “M101 Corp.” The merger took effect on August 14, 2017. On November 2, 2019, a majority of shareholders approved a resolution to change the name of the Company to Xenous Holdings, Inc. On November 19, 2019, the Company received notice that the Secretary of State of Nevada accepted the Company’s Certificate of Amendment to its Articles of Incorporation to change the name of the Company to Xenous Holdings, Inc. The Company currently has no business operations. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended |
Jun. 30, 2020 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | Basis of Presentation The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the three months ended June 30, 2020 are not necessarily indicative of the results that may be expected for the year ending March 31, 2021. The notes to the unaudited financial statements are condensed, as disclosures that would substantially duplicate the disclosures contained in the audited financial statements for fiscal year 2020 have been omitted. This report should be read in conjunction with the audited financial statements and the footnotes thereto for the fiscal year ended March 31, 2020 included in the Company’s Form 10-K as filed with the Securities and Exchange Commission on July 14, 2020. Use of Estimates The Company prepares its financial statements in conformity with “GAAP,” which require 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 reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Financial Instruments The Company’s financial instruments consist primarily of accounts payable and debts. The carrying amounts of such financial instruments approximate their respective estimated fair value due to the short-term maturities and approximate market interest rates of these instruments. Related Parties We follow ASC 850, “Related Party Disclosures,” COVID-19 In early 2020, the World Health Organization declared the rapidly spreading coronavirus disease (COVID-19) outbreak a pandemic. This pandemic has resulted in governments worldwide enacting emergency measures to combat the spread of the virus. The Company considered the impact of COVID-19 on the assumptions and estimates used and determined that there were no material adverse impacts on the Company’s results of operations and financial position at June 30, 2020. The full extent of the future impacts of COVID-19 on the Company’s operations is uncertain. A prolonged outbreak could have a material adverse impact on financial results and business operations of the Company in the future. The Company is not 10 may Recently Issued Accounting Pronouncements Management has considered all recent accounting pronouncements issued and believes that these recent pronouncements will not have a material effect on the Company’s financial statements |
GOING CONCERN
GOING CONCERN | 3 Months Ended |
Jun. 30, 2020 | |
GOING CONCERN | |
NOTE 3 - GOING CONCERN | The Company has not yet generated any revenue since its inception and has an operating loss and net loss of $43,269 for the three months ended June 30, 2020. As of June 30, 2020, the Company has accumulated deficit of $917,266, and negative working capital of $606,466. The Company’s continuation as a going concern is dependent on its ability to execute its operation plan to generate sufficient cash flows from operations to meet its obligations and/or obtaining additional financing from its shareholders or other sources, as may be required. There can be no assurance that the necessary debt or equity financing will be available or will be available on terms acceptable to the Company. The accompanying financial statements have been prepared assuming that the Company will continue as a going concern; however, the above conditions raise substantial doubt about the Company’s ability to do so. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern. While we believe in the viability of our strategy to generate sufficient revenues in the future and in our ability to raise additional funds, there can be no assurances to that effect. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 3 Months Ended |
Jun. 30, 2020 | |
RELATED PARTY TRANSACTIONS | |
NOTE 4 - RELATED PARTY TRANSACTIONS | Due to Related Party During three months ended June 30, 2020 and 2019, Smartex Investment Ltd., the majority shareholder of the Company which is holding 82% of the Company’s common shares, advanced $40,125 and $15,555, respectively, to the Company for operating expenses. As of June 30, 2020 and March 31, 2020, total amount due to Smartex Investment Ltd. was $597,192 and $557,067, respectively. The loan is non-interest bearing and due on demand. |
SHARE CAPITAL
SHARE CAPITAL | 3 Months Ended |
Jun. 30, 2020 | |
SHARE CAPITAL | |
NOTE 5 - SHARE CAPITAL | Preferred Stock The Company is authorized to issue 10,000,000 shares of preferred stock with a par value of $0.001 per share. As of June 30, 2020 and March 31, 2020, no preferred shares have been issued. Common Stock The Company is authorized to issue 10,000,000,000 shares of common stock with a par value of $0.001 per share. There were no stock issuances during the three months ended June 30, 2020 or 2019. As of June 30, 2020 and March 31, 2020, the Company had 760,250,000 shares of common stock issued and outstanding. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 3 Months Ended |
Jun. 30, 2020 | |
SUBSEQUENT EVENTS | |
NOTE 6 - SUBSEQUENT EVENTS | Management has evaluated subsequent events through the date these financial statements were issued. Based on our evaluation, no events have occurred that require disclosure. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 3 Months Ended |
Jun. 30, 2020 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Basis of Presentation | The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the three months ended June 30, 2020 are not necessarily indicative of the results that may be expected for the year ending March 31, 2021. The notes to the unaudited financial statements are condensed, as disclosures that would substantially duplicate the disclosures contained in the audited financial statements for fiscal year 2020 have been omitted. This report should be read in conjunction with the audited financial statements and the footnotes thereto for the fiscal year ended March 31, 2020 included in the Company’s Form 10-K as filed with the Securities and Exchange Commission on July 14, 2020. |
Use of Estimates | The Company prepares its financial statements in conformity with “GAAP,” which require 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 reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Financial Instruments | The Company’s financial instruments consist primarily of accounts payable and debts. The carrying amounts of such financial instruments approximate their respective estimated fair value due to the short-term maturities and approximate market interest rates of these instruments. |
Related Parties | We follow ASC 850, “Related Party Disclosures,” |
COVID-19 | In early 2020, the World Health Organization declared the rapidly spreading coronavirus disease (COVID-19) outbreak a pandemic. This pandemic has resulted in governments worldwide enacting emergency measures to combat the spread of the virus. The Company considered the impact of COVID-19 on the assumptions and estimates used and determined that there were no material adverse impacts on the Company’s results of operations and financial position at June 30, 2020. The full extent of the future impacts of COVID-19 on the Company’s operations is uncertain. A prolonged outbreak could have a material adverse impact on financial results and business operations of the Company in the future. The Company is not 10 may |
Recently Issued Accounting Pronouncements | Management has considered all recent accounting pronouncements issued and believes that these recent pronouncements will not have a material effect on the Company’s financial statements |
NATURE OF BUSINESS AND CONTIN_2
NATURE OF BUSINESS AND CONTINUANCE OF OPERATIONS (Detail Narrative) | Nov. 02, 2019 |
NATURE OF BUSINESS AND CONTINUANCE OF OPERATIONS | |
Name change of company description | A majority of shareholders approved a resolution to change the name of the Company to Xenous Holdings, Inc. (the Company) |
GOING CONCERN (Detail Narrative
GOING CONCERN (Detail Narrative) - USD ($) | 3 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2020 | |
GOING CONCERN | |||
Net loss | $ (43,269) | $ (17,764) | |
OPERATING LOSS | (43,269) | $ (15,644) | |
Accumulated deficit | (917,266) | $ (873,997) | |
Working capital deficit | $ (606,466) |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 3 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2019 | |
Proceeds from related party advances | $ 40,125 | $ 15,555 | |
Smartex Investment Ltd [Member] | |||
Proceeds from related party advances | 40,125 | $ 15,555 | |
Due to related party | $ 597,192 | $ 557,067 | |
Ownership percentage | 82.00% |
SHARE CAPITAL (Details Narrativ
SHARE CAPITAL (Details Narrative) - $ / shares | Jun. 30, 2020 | Mar. 31, 2020 | Mar. 31, 2019 |
SHARE CAPITAL (Details Narrative) | |||
Preferred stock, par value, per share in dollars | $ 0.001 | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 | 10,000,000 |
Common stock, par value in dollars | $ 0.001 | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 10,000,000,000 | 10,000,000,000 | 10,000,000,000 |
Common stock, shares issued | 760,250,000 | 760,250,000 | 760,250,000 |
Common stock, shares outstanding | 760,250,000 | 760,250,000 | 760,250,000 |