Xenous (XITO) 10-Q 14 Feb 23 2023 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Dec. 31, 2022	Jan. 17, 2023
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	Dec. 31, 2022
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2023
Entity Common Stock Shares Outstanding		760,250,000
Document Quarterly Report	true
Entity File Number	000-55512
Entity Incorporation State Country Code	NV
Entity Tax Identification Number	87-0363526
Entity Interactive Data Current	No
Entity Address Address Line 1	Room 1120, 11th Floor, Peninsula Centre
Entity Address Address Line 2	67 Mody Road
Entity Address Address Line 3	Tsim Sha Tsui
Entity Address City Or Town	East Kowloon
City Area Code	852
Local Phone Number	6464-2017
Security 12b Title	Common Stock
Trading Symbol	XITO
Document Transition Report	false
Entity Address Country	HK

Balance Sheets (Unaudited)

Balance Sheets (Unaudited) - USD ($)	Dec. 31, 2022	Mar. 31, 2022
Current Asset
Prepaid expenses	$ 0	$ 72
Total Current Asset	0	72
TOTAL ASSET	0	72
Current Liabilities
Accounts payable and accrued liabilities	9,284	18,157
Due to a related party	747,627	699,617
Total Current Liabilities	756,911	717,774
TOTAL LIABILITIES	756,911	717,774
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	(1,067,711)	(1,028,502)
Total Stockholders' Deficit	(756,911)	(717,702)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 0	$ 72

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) (Unaudited) - $ / shares	Dec. 31, 2022	Mar. 31, 2022
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

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
OPERATING EXPENSES
General and administrative	$ 2	$ 144	$ 219	$ 578
Professional fees	13,580	13,500	38,990	44,830
Operating Expenses	13,582	13,644	39,209	45,408
NET LOSS	$ (13,582)	$ (13,644)	$ (39,209)	$ (45,408)
Basic and Diluted Loss per Common Share	$ 0	$ 0	$ 0	$ 0
Basic and Diluted Weighted Average Number of Common Shares	760,250,000	760,250,000	760,250,000	760,250,000

Statements of Changes in Stockh

Statements of Changes in Stockholders Deficit (Unaudited) - USD ($)	Total	Common Stock	Capital Deficiency	Accumulated Deficit
Balance, shares at Mar. 31, 2021		760,250,000
Balance, amount at Mar. 31, 2021	$ (652,988)	$ 760,250	$ (449,450)	$ (963,788)
Net loss	(17,895)	$ 0	0	(17,895)
Balance, shares at Jun. 30, 2021		760,250,000
Balance, amount at Jun. 30, 2021	(670,883)	$ 760,250	(449,450)	(981,683)
Balance, shares at Mar. 31, 2021		760,250,000
Balance, amount at Mar. 31, 2021	(652,988)	$ 760,250	(449,450)	(963,788)
Net loss	(45,408)
Balance, shares at Dec. 31, 2021		760,250,000
Balance, amount at Dec. 31, 2021	(698,396)	$ 760,250	(449,450)	(1,009,196)
Balance, shares at Jun. 30, 2021		760,250,000
Balance, amount at Jun. 30, 2021	(670,883)	$ 760,250	(449,450)	(981,683)
Net loss	(13,869)	$ 0	0	(13,869)
Balance, shares at Sep. 30, 2021		760,250,000
Balance, amount at Sep. 30, 2021	(684,752)	$ 760,250	(449,450)	(995,552)
Net loss	(13,644)	$ 0	0	(13,644)
Balance, shares at Dec. 31, 2021		760,250,000
Balance, amount at Dec. 31, 2021	(698,396)	$ 760,250	(449,450)	(1,009,196)
Balance, shares at Mar. 31, 2022		760,250,000
Balance, amount at Mar. 31, 2022	(717,702)	$ 760,250	(449,450)	(1,028,502)
Net loss	(11,975)	$ 0	0	(11,975)
Balance, shares at Jun. 30, 2022		760,250,000
Balance, amount at Jun. 30, 2022	(729,677)	$ 760,250	(449,450)	(1,040,477)
Balance, shares at Mar. 31, 2022		760,250,000
Balance, amount at Mar. 31, 2022	(717,702)	$ 760,250	(449,450)	(1,028,502)
Net loss	(39,209)
Balance, shares at Dec. 31, 2022		760,250,000
Balance, amount at Dec. 31, 2022	(756,911)	$ 760,250	(449,450)	(1,067,711)
Balance, shares at Jun. 30, 2022		760,250,000
Balance, amount at Jun. 30, 2022	(729,677)	$ 760,250	(449,450)	(1,040,477)
Net loss	(13,652)	$ 0	0	(13,652)
Balance, shares at Sep. 30, 2022		760,250,000
Balance, amount at Sep. 30, 2022	(743,329)	$ 760,250	(449,450)	(1,054,129)
Net loss	(13,582)	$ 0	0	(13,582)
Balance, shares at Dec. 31, 2022		760,250,000
Balance, amount at Dec. 31, 2022	$ (756,911)	$ 760,250	$ (449,450)	$ (1,067,711)

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended				9 Months Ended
	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2022	Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (13,582)	$ (11,975)	$ (13,644)	$ (17,895)	$ (39,209)	$ (45,408)
Changes in operating assets and liabilities:
Prepaid expenses					72	0
Accounts payable and accrued liabilities					(8,873)	28,597
Net cash used in operating activities					(48,010)	(16,811)
CASH FLOWS FROM FINANCING ACTIVITY
Proceeds from related party advances					48,010	16,811
Net cash provided by financing activity					48,010	16,811
Net changes in cash and cash equivalents					0	0
Cash and cash equivalents - beginning of period		$ 0		$ 0	0	0
Cash and cash equivalents - end of period	$ 0		$ 0		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	9 Months Ended
	Dec. 31, 2022
NATURE OF BUSINESS AND CONTINUANCE OF OPERATIONS
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. On November 11, 2022, the Company entered into a Memorandum of Understanding with Dadvance Agarwood Alpha Sdn Bhd (“Dadvance”), a company primarily engaged in the plantations, inoculations, cultivations, manufacturing, marketing, trading and conducting research and development of agricultural commodities in relation to Aquilaria trees and its related products with their headquarter based in Malaysia. The Company will be conducting full financial and legal due diligence of Dadvance and, if the due diligence is satisfactory, negotiate the definite acquisition agreement with Dadvance and its shareholders. The Board of Directors will not proceed with the acquisition unless an independent fairness opinion regarding fairness of the acquisition is obtained. The Company engaged YYC Advisors, a Malaysian accounting and financial advisory to conduct independent valuation on the targeted Malaysia plantation company. The Company engaged Eastnaga Capital Fund Ltd as an advisor and manager for corporate strategy.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Dec. 31, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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 nine months ended December 31, 2022 are not necessarily indicative of the results that may be expected for the year ending March 31, 2023. 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 2022 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, 2022 included in the Company’s Form 10-K as filed with the Securities and Exchange Commission on June 29, 2022. 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. Fair Value of Financial Instruments ASC 820 “ Fair Value Measurements and Disclosures These tiers include: Level 1: defined as observable inputs such as quoted prices in active markets; Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. 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. Basic and Diluted Earnings Per Share The Company has adopted ASC Topic 260, ”Earnings per Share,” As of December 31, 2022 and 2021, the Company did not have any potentially dilutive securities. 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 December 31, 2022. 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 In December 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (ASU 2019-12), which simplifies the accounting for income taxes. This guidance will be effective for entities for the fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020 on a prospective basis, with early adoption permitted. We adopted the new standard effective April 1, 2021 and there was no material impact on the Company’s financial statements. Management has considered all recent accounting pronouncements issued. The Company’s management believes that these recent pronouncements will not have a material effect on the Company’s financial statements.

GOING CONCERN

GOING CONCERN	9 Months Ended
	Dec. 31, 2022
GOING CONCERN
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 $39,209 for the nine months ended December 31, 2022. As of December 31, 2022, the Company has accumulated deficit of $1,067,711, negative operating cash flow of $48,010 and negative working capital of $756,911. 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 major 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	9 Months Ended
	Dec. 31, 2022
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 4 - RELATED PARTY TRANSACTIONS Due to Related Party During the nine months ended December 31, 2022 and 2021, Smartex Investment Ltd., the majority shareholder of the Company which is holding 82% of the Company’s common shares, advanced $48,010 and $16,811, respectively, to the Company for operating expenses. As of December 31, 2022 and March 31, 2022, total amount due to Smartex Investment Ltd. was $747,627 and $699,617 respectively. The loan is non-interest bearing and due on demand.

SHARE CAPITAL

SHARE CAPITAL	9 Months Ended
	Dec. 31, 2022
SHARE CAPITAL
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 December 31, 2022 and March 31, 2022, 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 nine months ended December 31, 2022 and 2021. As of December 31, 2022 and March 31, 2022, the Company had 760,250,000 shares of common stock issued and outstanding.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Dec. 31, 2022
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 6 – SUBSEQUENT EVENTS The due diligence process related to the acquisition plan with Dadvance Agarwood Alpha Sdn Bhd (“Dadvance”) is still in progress as at the date of this filing, and upon satisfactory only, the Company shall execute a separate share purchase agreement based on the valuation report. In accordance with ASC 855-10, the Company has analyzed its operations subsequent to December 31, 2022 to the date these financial statements were issued and has determined that it does not have other material subsequent events to disclose in these financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Dec. 31, 2022
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 nine months ended December 31, 2022 are not necessarily indicative of the results that may be expected for the year ending March 31, 2023. 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 2022 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, 2022 included in the Company’s Form 10-K as filed with the Securities and Exchange Commission on June 29, 2022.
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.
Fair Value of Financial Instruments	ASC 820 “ Fair Value Measurements and Disclosures These tiers include: Level 1: defined as observable inputs such as quoted prices in active markets; Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. 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.
Basic and Diluted Earnings Per Share	The Company has adopted ASC Topic 260, ”Earnings per Share,” As of December 31, 2022 and 2021, the Company did not have any potentially dilutive securities.
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 December 31, 2022. 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	In December 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (ASU 2019-12), which simplifies the accounting for income taxes. This guidance will be effective for entities for the fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020 on a prospective basis, with early adoption permitted. We adopted the new standard effective April 1, 2021 and there was no material impact on the Company’s financial statements. Management has considered all recent accounting pronouncements issued. The Company’s management believes that these recent pronouncements will not have a material effect on the Company’s financial statements.

GOING CONCERN (Detail Narrative

GOING CONCERN (Detail Narrative) - USD ($)	3 Months Ended						9 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2022	Dec. 31, 2021	Mar. 31, 2022
GOING CONCERN
Accumulated deficit	$ (1,067,711)						$ (1,067,711)		$ (1,028,502)
Net loss	(13,582)	$ (13,652)	$ (11,975)	$ (13,644)	$ (13,869)	$ (17,895)	(39,209)	$ (45,408)
Cash	(48,010)						(48,010)
Working capital deficit	$ (756,911)						$ (756,911)

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Mar. 31, 2022
operating expenses	$ 13,582	$ 13,644	$ 39,209	$ 45,408
Smartex Investment Ltd [Member]
Due to related party	$ 747,627		$ 747,627		$ 699,617
Ownership percentage	82%		82%
operating expenses			$ 48,010	$ 16,811

SHARE CAPITAL (Details Narrativ

SHARE CAPITAL (Details Narrative) - $ / shares	Dec. 31, 2022	Mar. 31, 2022
SHARE CAPITAL (Details Narrative)
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, par value, per share	$ 0.001	$ 0.001
Common stock, shares authorized	10,000,000,000	10,000,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares issued	760,250,000	760,250,000
Common stock, shares outstanding	760,250,000	760,250,000