Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2020 | Apr. 27, 2020 | |
Document And Entity Information | ||
Entity Registrant Name | VIGILANT DIVERSIFIED HOLDINGS, INC./NV | |
Entity Central Index Key | 0001653099 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2020 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | No | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business Flag | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 16,398,400 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2020 |
Condensed Balance Sheets (Unaud
Condensed Balance Sheets (Unaudited) - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 |
Current Assets | ||
Cash | $ 870 | $ 58 |
Other receivable | 870 | |
TOTAL ASSETS | 870 | 928 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 120,931 | 114,536 |
Related party advances | 37,697 | 37,210 |
TOTAL LIABILITIES | 158,628 | 151,746 |
STOCKHOLDERS' DEFICIT | ||
Preferred Stock, Authorized 50,000,000 preferred shares, $0.0001 par, none issued and outstanding on March 31, 2020 and December 31, 2019 | ||
Common Stock; Authorized 500,000,000 common shares, $0.0001 par, 16,398,400 issued and outstanding on March 31, 2020 and December 31, 2019 | 1,640 | 1,640 |
Additional paid-in capital | 342,762 | 342,762 |
Accumulated Deficit | (502,160) | (495,220) |
TOTAL STOCKHOLDERS' DEFICIT | (157,758) | (150,818) |
TOTAL LIABILITIES & STOCKHOLDERS' DEFICIT | $ 870 | $ 928 |
Condensed Balance Sheets (Una_2
Condensed Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Mar. 31, 2020 | Dec. 31, 2019 |
Statement of Financial Position [Abstract] | ||
Preferred stock shares, authorized | 50,000,000 | 50,000,000 |
Preferred stock shares, par value | $ 0.0001 | $ 0.0001 |
Preferred stock shares, issued | ||
Preferred stock shares, outstanding | ||
Common stock shares, authorized | 500,000,000 | 500,000,000 |
Common stock shares, par value | $ 0.0001 | $ 0.0001 |
Common stock shares, issued | 16,398,400 | 16,398,400 |
Common stock shares, outstanding | 16,398,400 | 16,398,400 |
Condensed Statements of Operati
Condensed Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Expenses | ||
Franchise tax expense | $ 800 | $ 1,631 |
General and administrative expenses | 243 | 961 |
Professional fees | 5,500 | 16,500 |
Transfer agent and filings | 397 | 377 |
Total Expenses | 6,940 | 19,469 |
Net Loss for the period | $ (6,940) | $ (19,469) |
Basic and diluted loss per common share | $ 0 | $ 0 |
Weighted average number of common shares outstanding Basic and diluted | 16,398,400 | 16,398,400 |
Condensed Statements of Stockho
Condensed Statements of Stockholders' Deficit (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Deficit [Member] | Total |
Balance at Dec. 31, 2018 | $ 1,640 | $ 342,762 | $ (437,519) | $ (93,117) |
Balance, shares at Dec. 31, 2018 | 16,398,400 | |||
Net loss for the period | (19,469) | (19,469) | ||
Balance at Mar. 31, 2019 | $ 1,640 | 342,762 | (456,988) | (112,586) |
Balance, shares at Mar. 31, 2019 | 16,398,400 | |||
Net loss for the period | (38,232) | (38,232) | ||
Balance at Dec. 31, 2019 | $ 1,640 | 342,762 | (495,220) | (150,818) |
Balance, shares at Dec. 31, 2019 | 16,398,400 | |||
Net loss for the period | (6,940) | (6,940) | ||
Balance at Mar. 31, 2020 | $ 1,640 | $ 342,762 | $ (502,160) | $ (157,758) |
Balance, shares at Mar. 31, 2020 | 16,398,400 |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
OPERATING ACTIVITIES: | |||
Net Loss | $ (6,940) | $ (19,469) | $ (38,232) |
Changes in operating assets and liabilities: | |||
Other receivables | 870 | ||
Accounts payable and accrued liabilities | 6,394 | 11,003 | |
Net cash provided by operating activities | 324 | (8,466) | |
FINANCING ACTIVITIES: | |||
Related party advances | 488 | 12,341 | |
Net cash provided by financing activities | 488 | 12,341 | |
Net cash increase | 812 | 3,875 | |
Cash, beginning | 58 | 9,102 | 12,977 |
Cash, ending | 870 | 12,977 | $ 58 |
Supplemental cash flow information: | |||
Cash paid of interest | |||
Cash paid for income taxes |
Nature of Business
Nature of Business | 3 Months Ended |
Mar. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Business | NOTE 1-NATURE OF BUSINESS Vigilant Diversified Holdings, Inc. (“the Company”) was incorporated in the State of Nevada as a for-profit company on September 30, 2015. On October 29, 2018, the Company entered into a Share Exchange Agreement (the “Agreement”) to acquire up to 100% of the issued and outstanding shares of the common stock of FUGA, Inc., a Wyoming corporation (“FUGA”) in exchange for 5,500,000 shares of the Company’s common stock. The closing of the transaction under the Agreement is subject to certain conditions including the customary board and shareholder approval of FUGA’s audit and the transaction. Basis of presentation The unaudited interim financial statements included herein have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. They do not include all information and notes required by generally accepted accounting principles for complete financial statements. However, except as disclosed herein, there has been no material change in the information disclosed in the notes to the financial statements included in the Annual Report on Form 10-K of the Company for the year ended December 31, 2019. In the opinion of management, all adjustments (including normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2020, are not necessarily indicative of the results that may be expected for the year ended December 31, 2020. For further information, these unaudited interim financial statements and the related notes should be read in conjunction with the Company’s audited financial statements for the year ended December 31, 2019, included in the Company’s report on Form 10-K. |
Ability to Continue as a Going
Ability to Continue as a Going Concern | 3 Months Ended |
Mar. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Ability to Continue as a Going Concern | NOTE 2 – ABILITY TO CONTINUE AS A GOING CONCERN These financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) on a going concern basis, which assumes that the Company will continue to realize its assets and discharge its obligations and commitments in the normal course of operations. Realization values may be substantially different from carrying values as shown and these consolidated financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. As of March 31, 2020, the Company had not yet achieved profitable operations, has incurred cumulative losses of $502,160 and expects to incur significant further losses in the development of its business, which casts substantial doubt about the Company’s ability to continue as a going concern. To remain a going concern, the Company will be required to obtain the necessary financing to pursue its plan of operation or complete an acquisition of a profitable company. Management plans to obtain the necessary financing through the issuance of equity and/or advances from related parties. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2020 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of Estimates and Assumptions The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Cash The Company considers all highly liquid investments with maturity of three months or less when purchased to be cash equivalents. As of March 31, 2020, and December 31, 2019, the Company had $870 and $58 in cash, respectively and did not have any cash equivalents. Loss per Share The Company’s basic earnings (loss) per share are calculated by dividing its net income (loss) available to common stockholders by the weighted average number of common shares outstanding for the period. The Company’s dilutive earnings (loss) per share is calculated by dividing its net income (loss) available to common shareholders by the diluted weighted average number of shares outstanding during the period. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
Stockholders' Equity
Stockholders' Equity | 3 Months Ended |
Mar. 31, 2020 | |
Equity [Abstract] | |
Stockholders' Equity | NOTE 4–STOCKHOLDERS’ EQUITY The Company was formed with one class of common stock, $0.0001 par value and was originally authorized to issue 100,000,000 common shares and one class of preferred stock, $0.0001 par value and is authorized to issue 10,000,000 shares. On October 29, 2018, the Company amended its articles of incorporation and increased its one class of common stock, $0.0001 par value, to 500,000,000 common shares and its one class of preferred stock, $0.0001 par value, to 50,000,000 shares. Voting rights are not cumulative and, therefore, the holders of more than 50% of the common stock could, if they chose to do so, elect all of the directors of the Company. The Company did not issue any stock for the period ended March 31, 2020. |
Related Party Transactions
Related Party Transactions | 3 Months Ended |
Mar. 31, 2020 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | NOTE 5–RELATED PARTY TRANSACTIONS The directors and officers of the Company are involved in other business activities and may, in the future, become involved in other business opportunities. If a specific business opportunity becomes available, they may face a conflict in selecting between the Company and their other business interests. The Company has not formulated a policy for the resolution of such conflicts. One of the Company’s major shareholder, Intercap Partners, LLC, is owned by the Company’s legal counsel and that shareholder advanced the Company $200 for the three months ended March 31, 2020, which is the balance owed to it. As of March 31, 2020, the Company’s legal counsel is owed $104,438 for legal services and rendered services of $3,500 for the three months ended March 31, 2020. It has also advanced the Company $1,312 of which $288 was advance during the three months ended March 31, 2020. As of March 31, 2020, one of the Company’s other major shareholder, MT Capital Partners, LLC, which is owned by one of the Company’s officers and director, has advanced the Company $35,950. These advances are unsecured and do not bear any terms of interest or repayment. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
Accounting Policies [Abstract] | |
Use of Estimates and Assumptions | Use of Estimates and Assumptions The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. |
Cash | Cash The Company considers all highly liquid investments with maturity of three months or less when purchased to be cash equivalents. As of March 31, 2020, and December 31, 2019, the Company had $870 and $58 in cash, respectively and did not have any cash equivalents. |
Loss Per Share | Loss per Share The Company’s basic earnings (loss) per share are calculated by dividing its net income (loss) available to common stockholders by the weighted average number of common shares outstanding for the period. The Company’s dilutive earnings (loss) per share is calculated by dividing its net income (loss) available to common shareholders by the diluted weighted average number of shares outstanding during the period. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
Nature of Business (Details Nar
Nature of Business (Details Narrative) - Share Exchange Agreement [Member] - FUGA, Inc. [Member] | Oct. 29, 2018shares |
Business acquisition, equity interest issued, number of shares | 5,500,000 |
Maximum [Member] | |
Ownership percentage | 100.00% |
Ability to Continue as a Goin_2
Ability to Continue as a Going Concern (Details Narrative) - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Incurred cumulative losses | $ (502,160) | $ (495,220) |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details Narrative) - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 |
Accounting Policies [Abstract] | ||
Cash | $ 870 | $ 58 |
Stockholders' Equity (Details N
Stockholders' Equity (Details Narrative) - $ / shares | 3 Months Ended | ||
Mar. 31, 2020 | Dec. 31, 2019 | Oct. 29, 2018 | |
Common stock shares, par value | $ 0.0001 | $ 0.0001 | |
Common stock shares, authorized | 500,000,000 | 500,000,000 | |
Preferred stock shares, par value | $ 0.0001 | $ 0.0001 | |
Preferred stock shares, authorized | 50,000,000 | 50,000,000 | |
Stock issued during period, new issues | |||
Common Stock [Member] | |||
Common stock shares, par value | $ 0.0001 | $ 0.0001 | |
Common stock shares, authorized | 100,000,000 | 500,000,000 | |
Ownership percentage | 50.00% | ||
Preferred Stock [Member] | |||
Preferred stock shares, par value | $ 0.0001 | $ 0.0001 | |
Preferred stock shares, authorized | 10,000,000 | 50,000,000 |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) | 3 Months Ended |
Mar. 31, 2020USD ($) | |
Intercap Partners, LLC [Member] | |
Related party advances | $ 200 |
Intercap Partners, LLC [Member] | Advance During Current Period [Member] | |
Related party advances | 288 |
Intercap Partners, LLC [Member] | Advanced Payment [Member] | |
Related party advances | 1,312 |
Intercap Partners, LLC [Member] | Legal Counsel [Member] | |
Payable for legal services | 104,438 |
Legal services fee | 3,500 |
MT Capital Partners, LLC [Member] | |
Related party advances | $ 35,950 |
Advances conditions, description | These advances are unsecured and do not bear any terms of interest or repayment. |