Haha Generation (HAGN) 10-Q 16 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 14, 2016
Document And Entity Information [Abstract]
Entity Registrant Name	HAHA GENERATION CORP.
Entity Central Index Key	1,655,008
Trading Symbol	haha
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		299,656
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Current Assets
Cash and cash equivalents	$ 72,724	$ 3,369
Total current assets	72,724	3,369
Total Assets	72,724	3,369
Current Liabilities
Accrued expense	22,533
Other payable	69,355
Due to related parties	3,186	3,186
Total current liabilities	95,074	3,186
Total liabilities	95,074	3,186
Stockholders' Equity
Common stock, $0.1 par value; 750,000 shares authorized, 210,281 shares issued and outstanding as of March 31, 2016 and December 31, 2015, respectively	21,028	21,028
Additional paid-in capital	180,253	180,253
Accumulated deficits	(223,631)	(201,098)
Total stockholders' equity (deficit)	(22,350)	183
Total Liabilities and Stockholders' Equity	$ 72,724	$ 3,369

BALANCE SHEETS (Parentheticals)

BALANCE SHEETS (Parentheticals) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.1	$ 0.1
Common stock, shares authorized	750,000	750,000
Common stock, shares issued	210,281	210,281
Common stock, shares outstanding	210,281	210,281

STATEMENT OF OPERATIONS (UNAUDI

STATEMENT OF OPERATIONS (UNAUDITED) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
Net revenue
General and administrative expenses	$ 22,533	$ 10
Loss from operations	(22,533)	(10)
Loss before income taxes	$ (22,533)	$ (10)
Provision for income taxes
Net loss	$ (22,533)	$ (10)
Net loss per share
Basic and diluted (in dollars per share)	$ (0.11)	$ 0
Weighted Average Shares Outstanding
Basic and diluted (in shares)	210,281	207,281

STATEMENT OF CASH FLOWS (UNAUDI

STATEMENT OF CASH FLOWS (UNAUDITED) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash Flows from Operating Activities
Net loss	$ (22,533)	$ (10)
Changes in assets and liabilities:
Decrease (Increase) in other receivable		96,814
Increase (Decrease) in accrued expenses	22,533	(96,814)
Increase (Decrease) in other payable	69,355
Net cash provided by (used in) operating activities	69,355	(10)
Net increase(decrease) in cash and cash equivalents	69,355	(10)
Cash and Cash Equivalents
Beginning	3,369	378
Ending	$ 72,724	$ 368
Cash paid during the year for:
Interest
Income taxes

NATURE OF OPERATIONS AND SUMMAR

NATURE OF OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES	NOTE 1. NATURE OF OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) for interim financial reporting and in accordance with instructions for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, the unaudited financial statements contained in this report reflect all adjustments that are normal and recurring in nature and considered necessary for a fair presentation of the financial position and the results of operations for the interim periods presented. The year-end balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. The results of operations for the interim period are not necessarily indicative of the results expected for the full year. These unaudited financial statements, footnote disclosures, and other information should be read in conjunction with the financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. Organization HAHA Generation Corp., a company in the developmental stage (the “Company”), was incorporated on June 10, 2014 in the State of Nevada. The Company has conducted limited business operations and had no revenues from operations since its inception. The Company‘s business plan is to distribute fabrics that were made out of silicon crystals. Going Concern These financial statements were prepared on the basis of accounting principles applicable to going concern, which assumes the realization of assets and discharge of liabilities in the normal course of business. As shown in the accompanying financial statements, the Company had an accumulated deficit of $223,631 and $201,098 as of March 31, 2016 and December 31, 2015, respectively, and it had no revenue from operations. The Company faces all the risks common to companies at development stage, including capitalization and uncertainty of funding sources, high initial expenditure levels, uncertain revenue streams, and difficulties in managing growth. The Company's losses raise substantial doubt about its ability to continue as a going concern. The Company's financial statements do not reflect any adjustments that might result from the outcome of this uncertainty. The Company intends on financing its future development activities and its working capital needs largely from the sale of public equity securities with some additional funding from a loan commitment of $100,000 from Hsuan-Hsien Liao, our President and sole director, which commitment is for 12 months, and all amounts lent by Ms. Liao pursuant to that commitment shall not accrue interest and shall be payable on demand; provided however, such command will not be made prior to the expiration of that 12 month period after the date of that commitment, which date was March 31, 2016. The Company believes its current and future plans enable it to continue as a going concern. The Company's ability to achieve these objectives cannot be determined at this time. These financial statements do not give effect to any adjustments which would be necessary should the Company be unable to continue as a going concern and therefore be required to realize its assets and discharge its liabilities in other than the normal course of business and at amounts which may differ from those in the accompanying financial statements. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles 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 revenue and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents Cash and cash equivalents include cash and all highly liquid instruments with original maturities of three months or less. Net Income (loss) per Share Basic income (loss) per share is computed by dividing net income by weighted average number of shares of common stock outstanding during each period. Diluted income per share is computed by dividing net loss by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during each period. At March 31, 2016 and December 31, 2015, the Company does not have any outstanding common stock equivalents; therefore, a separate computation of diluted loss per share is not presented Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. 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 income in the period that includes the enactment date. A valuation allowance is recognized if it is more likely than not that some portion, or all, of a deferred tax asset will not be realized. The deferred income tax assets were $0 as of both March 31, 2016 and December 31, 2015. Reclassifications Certain classifications have been made to the prior year financial statements to conform to the current year presentation. The reclassification had no impact on previously reported net loss or accumulated deficit. Recent Accounting Pronouncements The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on its result of operations, financial position or cash flow.

OTHER PAYABLE

OTHER PAYABLE	3 Months Ended
	Mar. 31, 2016
Payables and Accruals [Abstract]
OTHER PAYABLE	NOTE 2. OTHER PAYABLE In March 2016, the Company received $69,355 from three potential investors for purchase of common stocks. As of March 31, 2016, the Company did not issue the common stock shares. The proceeds were returned to the investors in April 2016.

DUE TO RELATED PARTY

DUE TO RELATED PARTY	3 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
DUE TO RELATED PARTY	NOTE 3. DUE TO RELATED PARTY From March 2014 to the present, Hsuan-Hsien Liao, our President and sole director , has been the marketing director for, and a member of the Board of Directors of, Shinin Silica Co., Ltd., “

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	3 Months Ended
	Mar. 31, 2016
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	NOTE 4. STOCKHOLDERS’ EQUITY On June 12, 2014, the Company issued 10,000 shares of its common stock to its then sole director for $1,000 cash. On July 23, 2014, that director sold those shares to his daughter, the Company’s current president and sole director, for $1,000 cash. On December 8, 2014, the Company issued 197,281 shares of common stock to thirty-two shareholders for $197,281 in cash. On May 5, 2015, the Company issued 3,000 shares of common stock to three shareholders for $3,000 in cash.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 5. INCOME TAXES As of March 31, 2016, the Company had net operating loss carry forwards of approximately $223,631 that may be available to reduce future years’ taxable income through 2036. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards. The provision for Federal income tax consists of the following for the three months ended March 31: 2016 2015 Federal income tax benefit attributable to: Current Operations $ 7,662 $ 3 Less: valuation allowance (7,662 ) (3 ) Net provision for Federal income taxes $ 0 $ 0 The cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows as of Mar 31, 2016 and December 31, 2015: March 31, 2016 December 31, 2015 Deferred tax asset attributable to: Net operating loss carryover $ 76,035 $ 68,373 Less: valuation allowance (76,035 ) (68,373 ) Net deferred tax asset $ 0 $ 0 The difference between the effective rate reflected in the provision for income taxes on loss before taxes and the amounts determined by applying the applicable statutory U.S. tax rate for the three months ended March 31, 2016 and 2015 are analyzed below: Three Months ended Three Months ended March 31, 2016 March 31, 2015 Statutory tax benefit (34 ) % (34 ) % Nondeductible/nontaxable items - % - % Change in deferred tax asset valuation allowance 34 % 34 % Provision for income taxes - % - % For the three months ended March 31, 2016 and 2015, the Company had no unrecognized tax benefits and related interest and penalties expenses. Currently, the Company is not subject to examination by major tax jurisdictions.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 6. SUBSEQUENT EVENTS On April 30, 2016, the Company has issued 89,375 shares of its $0.1 par value common stock shares at a purchase price of $1.25 per share in a total amount of $111,719 from fifty-two shareholders. The Company has evaluated subsequent events through the date which the financial statements were available to be issued. All subsequent events requiring recognition as of March 31, 2016 have been incorporated into these financial statements and there are no subsequent events that require disclosure in accordance with FASB ASC Topic 855, “Subsequent Events.”

NATURE OF OPERATIONS AND SUMM12

NATURE OF OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) for interim financial reporting and in accordance with instructions for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, the unaudited financial statements contained in this report reflect all adjustments that are normal and recurring in nature and considered necessary for a fair presentation of the financial position and the results of operations for the interim periods presented. The year-end balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. The results of operations for the interim period are not necessarily indicative of the results expected for the full year. These unaudited financial statements, footnote disclosures, and other information should be read in conjunction with the financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015.
Going Concern	Going Concern These financial statements were prepared on the basis of accounting principles applicable to going concern, which assumes the realization of assets and discharge of liabilities in the normal course of business. As shown in the accompanying financial statements, the Company had an accumulated deficit of $223,631 and $201,098 as of March 31, 2016 and December 31, 2015, respectively, and it had no revenue from operations. The Company faces all the risks common to companies at development stage, including capitalization and uncertainty of funding sources, high initial expenditure levels, uncertain revenue streams, and difficulties in managing growth. The Company's losses raise substantial doubt about its ability to continue as a going concern. The Company's financial statements do not reflect any adjustments that might result from the outcome of this uncertainty. The Company intends on financing its future development activities and its working capital needs largely from the sale of public equity securities with some additional funding from a loan commitment of $100,000 from Hsuan-Hsien Liao, our President and sole director, which commitment is for 12 months, and all amounts lent by Ms. Liao pursuant to that commitment shall not accrue interest and shall be payable on demand; provided however, such command will not be made prior to the expiration of that 12 month period after the date of that commitment, which date was March 31, 2016. The Company believes its current and future plans enable it to continue as a going concern. The Company's ability to achieve these objectives cannot be determined at this time. These financial statements do not give effect to any adjustments which would be necessary should the Company be unable to continue as a going concern and therefore be required to realize its assets and discharge its liabilities in other than the normal course of business and at amounts which may differ from those in the accompanying financial statements.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles 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 revenue and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash and all highly liquid instruments with original maturities of three months or less.
Net Income (loss) per Share	Net Income (loss) per Share Basic income (loss) per share is computed by dividing net income by weighted average number of shares of common stock outstanding during each period. Diluted income per share is computed by dividing net loss by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during each period. At March 31, 2016 and December 31, 2015, the Company does not have any outstanding common stock equivalents; therefore, a separate computation of diluted loss per share is not presented
Income Taxes	Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. 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 income in the period that includes the enactment date. A valuation allowance is recognized if it is more likely than not that some portion, or all, of a deferred tax asset will not be realized. The deferred income tax assets were $0 as of both March 31, 2016 and December 31, 2015.
Reclassifications	Reclassifications Certain classifications have been made to the prior year financial statements to conform to the current year presentation. The reclassification had no impact on previously reported net loss or accumulated deficit.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on its result of operations, financial position or cash flow.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Schedule of provision for Federal income tax	2016 2015 Federal income tax benefit attributable to: Current Operations $ 7,662 $ 3 Less: valuation allowance (7,662 ) (3 ) Net provision for Federal income taxes $ 0 $ 0
Schedule of cumulative tax effect at net deferred tax	March 31, 2016 December 31, 2015 Deferred tax asset attributable to: Net operating loss carryover $ 76,035 $ 68,373 Less: valuation allowance (76,035 ) (68,373 ) Net deferred tax asset $ 0 $ 0
Schedule of provision for income taxes on loss before taxes	Three Months ended Three Months ended March 31, 2016 March 31, 2015 Statutory tax benefit (34 %) (34 %) Nondeductible/nontaxable items - % - % Change in deferred tax asset valuation allowance 34 % 34 % Provision for income taxes - % - %

NATURE OF OPERATIONS AND SUMM14

NATURE OF OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES (Detail Textuals) - USD ($)	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Nature Of Operations And Summary Of Accounting Policies [Line Items]
Accumulated deficit	$ (223,631)	$ (201,098)
Deferred income tax assets	0	$ 0
Hsuan-Hsien Liao
Nature Of Operations And Summary Of Accounting Policies [Line Items]
Additional funding from loan commitment	$ 100,000
Period for loan commitment	12 months

OTHER PAYABLE (Detail Textuals)

OTHER PAYABLE (Detail Textuals)	3 Months Ended
	Mar. 31, 2016USD ($)Investors
Payables and Accruals [Abstract]
Proceeds from common stock | $	$ 69,355
Number of potential investors | Investors	3

DUE TO RELATED PARTY (Detail Te

DUE TO RELATED PARTY (Detail Textuals) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Due to Related Parties [Abstract]
Due to related parties	$ 3,186	$ 3,186

STOCKHOLDERS' EQUITY (Detail Te

STOCKHOLDERS' EQUITY (Detail Textuals)	May. 05, 2015USD ($)Shareholdershares	Dec. 08, 2014USD ($)Shareholdershares	Jun. 12, 2014USD ($)shares	Jul. 23, 2014USD ($)
Stockholders Equity Note [Line Items]
Number of common stock issued for cash | shares	3,000	197,281
Number of shareholders | Shareholder	3	32
Value of common stock issued for cash	$ 3,000	$ 197,281
Sole director
Stockholders Equity Note [Line Items]
Number of common stock issued for cash | shares			10,000
Value of common stock issued for cash			$ 1,000
Current president and sole director
Stockholders Equity Note [Line Items]
Value of common stock issued for cash				$ 1,000

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Federal income tax benefit attributable to:
Current Operations	$ 7,662	$ 3
Less: valuation allowance	(7,662)	(3)
Net provision for Federal income taxes	$ 0	$ 0

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Deferred tax asset attributable to:
Net operating loss carryover	$ 76,035	$ 68,373
Less: valuation allowance	(76,035)	(68,373)
Net deferred tax asset	$ 0	$ 0

INCOME TAXES (Details 2)

INCOME TAXES (Details 2)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Statutory tax benefit	(34.00%)	(34.00%)
Nondeductible/nontaxable items
Change in deferred tax asset valuation allowance	34.00%	34.00%
Provision for income taxes

INCOME TAXES (Detail Textuals)

INCOME TAXES (Detail Textuals) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Net operating loss carryforwards	$ 223,631
Expected rate of cumulative tax effect	34.00%	34.00%

SUBSEQUENT EVENTS (Detail Textu

SUBSEQUENT EVENTS (Detail Textuals)	May. 05, 2015USD ($)Shareholdershares	Dec. 08, 2014USD ($)Shareholdershares	Apr. 30, 2016USD ($)Shareholder$ / sharesshares
Subsequent Event [Line Items]
Common stock share issue | shares	3,000	197,281
Value of common stock issued for cash | $	$ 3,000	$ 197,281
Number of shareholders | Shareholder	3	32
Subsequent Event
Subsequent Event [Line Items]
Common stock share issue | shares			89,375
Common stock, no par value (in dollars per share) | $ / shares			$ 0.1
Common stock price per share | $ / shares			$ 1.25
Value of common stock issued for cash | $			$ 111,719
Number of shareholders | Shareholder			52