Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Apr. 30, 2019 | Jun. 13, 2019 | |
Document and Entity Information: | ||
Entity Registrant Name | Jialijia Group Corp Ltd | |
Document Type | 10-Q | |
Document Period End Date | Apr. 30, 2019 | |
Trading Symbol | RZZN | |
Amendment Flag | false | |
Entity Central Index Key | 0001659559 | |
Current Fiscal Year End Date | --01-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Emerging Growth Company | true | |
Entity Small Business | false | |
Entity Ex Transition Period | true | |
Entity Current Reporting Status | Yes | |
Entity Common Stock, Shares Outstanding | 8,102,108 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q1 |
BALANCE SHEETS (UNAUDITED)
BALANCE SHEETS (UNAUDITED) - USD ($) | Apr. 30, 2019 | Jan. 31, 2019 |
Current assets: | ||
Cash and cash equivalents | $ 0 | $ 0 |
Prepaid expenses | 7,000 | 10,000 |
Total current assets | 7,000 | 10,000 |
Total Assets | 7,000 | 10,000 |
Current liabilities: | ||
Accrued liabilities | 200 | 0 |
Loan from related parties | 103,265 | 84,115 |
Total current liabilities | 103,465 | 84,115 |
Total Liabilities | 103,465 | 84,115 |
Stockholders' deficit: | ||
Common stock, $.001 par value, 1,000,000,000 shares authorized, 7,285,000 issued and outstanding at April 30, 2019 and January 31, 2019 | 7,285 | 7,285 |
Additional paid-in capital | 24,415 | 24,415 |
Accumulated deficit | (128,165) | (105,815) |
Total Stockholders' Deficit | (96,465) | (74,115) |
Total Liabilities & Stockholders' Deficit | $ 7,000 | $ 10,000 |
BALANCE SHEETS (UNAUDITED) (Par
BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares | Apr. 30, 2019 | Jan. 31, 2019 |
Statement of Financial Position [Abstract] | ||
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 1,000,000,000 | 1,000,000,000 |
Common stock, shares issued | 7,285,000 | 7,285,000 |
Common stock, shares outstanding | 7,285,000 | 7,285,000 |
STATEMENTS OF OPERATIONS (UNAUD
STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) | 3 Months Ended | |
Apr. 30, 2019 | Apr. 30, 2018 | |
Income Statement [Abstract] | ||
Revenue | $ 0 | $ 0 |
Cost of goods sold | 0 | 0 |
Gross profit | 0 | 0 |
Operating Expenses: | ||
General and administrative expenses | 22,350 | 5,975 |
Total operating expenses | 22,350 | 5,975 |
Loss from operations | (22,350) | (5,975) |
Provision for income taxes | 0 | 0 |
Net loss | $ (22,350) | $ (5,975) |
Net loss per common share: Basic and diluted | $ 0 | $ 0 |
Weighted average common shares outstanding: Basic and diluted | 7,285,000 | 7,285,000 |
STATEMENTS OF STOCKHOLDERS' DEF
STATEMENTS OF STOCKHOLDERS' DEFICIT (UNAUDITED) - USD ($) | Common Stock | Additional Paid-In Capital | Accumulated Deficit | Total |
Balances at beginning at Jan. 31, 2018 | $ 7,285 | $ 24,415 | $ (63,032) | $ (31,332) |
Balances at beginning (in shares) at Jan. 31, 2018 | 7,285,000 | |||
Net loss | (5,975) | (5,975) | ||
Balances at ending at Apr. 30, 2018 | $ 7,285 | 24,415 | (69,007) | (37,307) |
Balances at ending (in shares) at Apr. 30, 2018 | 7,285,000 | |||
Balances at beginning at Jan. 31, 2019 | $ 7,285 | 24,415 | (105,815) | (74,115) |
Balances at beginning (in shares) at Jan. 31, 2019 | 7,285,000 | |||
Net loss | (22,350) | (22,350) | ||
Balances at ending at Apr. 30, 2019 | $ 7,285 | $ 24,415 | $ (128,165) | $ (96,465) |
Balances at ending (in shares) at Apr. 30, 2019 | 7,285,000 |
STATEMENTS OF CASH FLOWS (UNAUD
STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) | 3 Months Ended | |
Apr. 30, 2019 | Apr. 30, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (22,350) | $ (5,975) |
Changes in operating assets and liabilities: | ||
Prepaid expenses | 3,000 | 0 |
Accounts payable and accrued liabilities | 200 | (200) |
Net cash used in operating activities | (19,150) | (6,175) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceed from loan - related party | 19,150 | 6,175 |
Net cash provided by financing activities | 19,150 | 6,175 |
Net increase (decrease) 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 DISCLOSURES OF CASH FLOW INFORMATION: | ||
Interest paid | 0 | 0 |
Income taxes paid | $ 0 | $ 0 |
Note 1 - ORGANIZATION AND PRICI
Note 1 - ORGANIZATION AND PRICIPAL ACTIVITIES | 3 Months Ended |
Apr. 30, 2019 | |
Accounting Policies [Abstract] | |
Note 1 - ORGANIZATION AND PRINCIPAL ACTIVITIES | NOTE 1 - ORGANIZATION AND PRICIPAL ACTIVITIES Jialijia Group Corporation Limited (the “Company”), formerly known as Rizzen, Inc., was incorporated as a corporation under the laws of the State of Nevada on October 21, 2015. The Company is in development stage and is seeking to acquire, through a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, exchangeable share transaction or other similar business transactions with one or more operating businesses or assets. |
Note 2 - GOING CONCERN
Note 2 - GOING CONCERN | 3 Months Ended |
Apr. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Note 2 - GOING CONCERN | NOTE 2 - GOING CONCERN The Company’s financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has incurred negative cash flows from operating activities, and continuing net losses and working capital deficits that 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. In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s plans to obtain such resources for the Company include obtaining capital from the sale of its equity securities, and loans from stockholders or other related party(ies) when needed. The Company believes its current and future plans enable it to continue as a going concern. Management cannot provide assurance that the Company will be successful in accomplishing these plans. 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. |
Note 3 - SUMMARY OF SIGNIFICANT
Note 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended |
Apr. 30, 2019 | |
Accounting Policies [Abstract] | |
Note 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The management of the Company is responsible for the selection and use of appropriate accounting policies and their application. Critical accounting policies and practices are those that are both most important to the portrayal of the Company’s financial condition and results and require management’s most difficult, subjective, or complex judgments, often as a result of the need to make estimates about the effects of matters that are inherently uncertain. The Company’s significant and critical accounting policies and practices are disclosed below as required by generally accepted accounting principles. Basis of Presentation The Company maintains its general ledger and journals with the accrual method of accounting for financial reporting purposes. The accompanying financial statements have been prepared pursuant to the rules of the Securities and Exchange Commission (“SEC”) and in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The Company follows the accounting guidance outlined in the Financial Accounting Standards Board Codification guidelines. The accompanying unaudited interim financial statements have been prepared in accordance with generally accepted principles for interim financial information and with the instruction to Form 10-Q of Regulation S-X. They may not include all information and footnotes required by United States generally accepted accounting principles for complete financial statements. However, except as disclosed herein, there have been no material changes in the information disclosed in the notes to the financial statements for the year ended January 31, 2019 included in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission. The interim unaudited financial statements should be read in conjunction with those financial statements included in the Form 10-K. In the opinion of management, all adjustments considered necessary for a fair presentation, which unless otherwise disclosed herein, consisting primarily of normal recurring adjustments, have been made. Operating results for the three months ended April 30, 2019 are not necessarily indicative of the results that may be expected for the year ending January 31, 2020. Use of estimates The preparation of the financial statements in conformity with U.S. GAAP 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 reporting periods. Management makes these estimates using the best information available at the time the estimates are made; however actual results could differ materially from those estimates. Income Taxes The Company accounts for income taxes as outlined in ASC 740, “Income Taxes”. Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. Loss per Share Calculation The Company complies with accounting and disclosure requirements of FASB ASC 260, “Earnings Per Share.” Net loss per common share is computed by dividing net loss applicable to common stockholders by the weighted average number of common shares outstanding for the period. For the three months ended April 30, 2019 and 2018, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into common stock and then share in the earnings of the Company. As a result, diluted loss per common share is the same as basic loss per common share for the period. Fair values of financial instruments ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value: Level 1 – quoted prices in active markets for identical assets or liabilities. Level 2 – quoted prices for similar assets and liabilities in active markets or inputs that are observable Level 3 – inputs that are unobservable There were no assets or liabilities measured at fair value on a recurring basis subject to the disclosure requirements of ASC 820 as of April 30, 2019 and January 31, 2019. Recent Accounting Pronouncements In August 2018, the FASB issued Accounting Standards Update (ASU) 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement”, which changes the fair value measurement disclosure requirements of ASC 820. This update is effective for fiscal years beginning after December 15, 2019, and for interim periods within those fiscal years. The Company does not expect the adoption of ASU 2018-13 to have a material impact on its financial statements. |
Note 4 - PREPAID EXPENSES
Note 4 - PREPAID EXPENSES | 3 Months Ended |
Apr. 30, 2019 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Note 4 - PREPAID EXPENSES | NOTE 4 - PREPAID EXPENSES As of April 30, 2019 and January 31, 2019, the Company had $7,000 and $10,000 in prepaid expenses, respectively, which consisted of prepaid professional service charges. |
Note 5 - ACCRUED LIABILITIES
Note 5 - ACCRUED LIABILITIES | 3 Months Ended |
Apr. 30, 2019 | |
Payables and Accruals [Abstract] | |
Note 5 - ACCRUED LIABILITIES | NOTE 5 - ACCRUED LIABILITIES As of April 30, 2019 and January 31, 2019 the Company had $200 and $0 in accrued liabilities, respectively, which consisted of accrued professional service charges. |
Note 6 - INCOME TAXES
Note 6 - INCOME TAXES | 3 Months Ended |
Apr. 30, 2019 | |
Accounting Policies [Abstract] | |
Note 6 - INCOME TAXES | NOTE 6 - INCOME TAXES The Company accounts for income taxes in accordance with FASB Codification Topic 740-10-25, Accounting for Uncertainty in Income Taxes, which requires the use of an asset and liability approach in accounting for income taxes. Under this approach, deferred tax assets and liabilities are measured based on differences between financial reporting and tax bases of assets and liabilities measured using enacted tax rates and laws that are expected to be in effect when differences are expected to reverse. As of April 30, 2019, we had a net operating loss carry-forward of $128,165 and a deferred tax asset of approximately $26,915 using the statutory rate of 21%. The deferred tax asset may be recognized in future periods, but not exceeding 20 years. However, the Company has provided a full valuation allowance on the deferred tax assets because of the uncertainty regarding its realizability. In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon future generation of taxable income during the periods in which temporary differences representing net future deductible amounts become deductible. After consideration of all the information available, Management believes that significant uncertainty exists with respect to future realization of the deferred tax assets and has therefore established a full valuation allowance. The significant component of deferred income tax assets as of April 30, 2019 and January 31, 2019 is as follows: April 30, 2019 January 31, 2019 Net operating loss carry-forward $ 26,915 $ 22,221 Valuation allowance (26,915 ) (22,221 ) Net deferred tax asset $ — $ — 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 are analyzed below: For the Three Months Ended April 30, 2019 April 30, 2018 Statutory tax benefit (21 )% (21 )% Change in deferred tax asset valuation allowance 21 % 21 % Provision for income taxes — % — % |
Note 7 - RELATED PARTY TRANSACT
Note 7 - RELATED PARTY TRANSACTIONS | 3 Months Ended |
Apr. 30, 2019 | |
Related Party Transactions [Abstract] | |
Note 7 - RELATED PARTY TRANSACTIONS | NOTE 7 - RELATED PARTY TRANSACTIONS In support of the Company’s nominal operation and cash requirements, the Company relies on advances from related parties until when the Company can support its operations or attain adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by officers, directors, or shareholders. The advances from related party represent the amounts paid by related party on behalf of the Company in satisfaction of liabilities. The advances are considered temporary in nature and have not been formalized by a promissory note. During the quarter ended April 30, 2019, the Company’s officer advanced $19,150 for operating expenses. The balances of the loan from related party as of April 30, 2019 and January 31, 2019 were $103,265 and $84,115, respectively. The loan is non-interest bearing, payable on demand and unsecured. |
Note 8 - SUBSEQUENT EVENTS
Note 8 - SUBSEQUENT EVENTS | 3 Months Ended |
Apr. 30, 2019 | |
Subsequent Events [Abstract] | |
Note 8 - SUBSEQUENT EVENTS | NOTE 8 - SUBSEQUENT EVENT On May 15, 2019, the Company issued an aggregate number of 817,108 shares of its common stock at a price of $0.02 per share to nine (9) subscribers for aggregate gross proceeds of $16,342. Management has evaluated subsequent events through the date which the financial statements were available to be issued. All subsequent events requiring recognition as of April 30, 2019 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.” |
Note 3 - SUMMARY OF SIGNIFICA_2
Note 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 3 Months Ended |
Apr. 30, 2019 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The Company maintains its general ledger and journals with the accrual method of accounting for financial reporting purposes. The accompanying financial statements have been prepared pursuant to the rules of the Securities and Exchange Commission (“SEC”) and in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The Company follows the accounting guidance outlined in the Financial Accounting Standards Board Codification guidelines. The accompanying unaudited interim financial statements have been prepared in accordance with generally accepted principles for interim financial information and with the instruction to Form 10-Q of Regulation S-X. They may not include all information and footnotes required by United States generally accepted accounting principles for complete financial statements. However, except as disclosed herein, there have been no material changes in the information disclosed in the notes to the financial statements for the year ended January 31, 2019 included in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission. The interim unaudited financial statements should be read in conjunction with those financial statements included in the Form 10-K. In the opinion of management, all adjustments considered necessary for a fair presentation, which unless otherwise disclosed herein, consisting primarily of normal recurring adjustments, have been made. Operating results for the three months ended April 30, 2019 are not necessarily indicative of the results that may be expected for the year ending January 31, 2020. |
Use of estimates | Use of estimates The preparation of the financial statements in conformity with U.S. GAAP 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 reporting periods. Management makes these estimates using the best information available at the time the estimates are made; however actual results could differ materially from those estimates. |
Income Taxes | Income Taxes The Company accounts for income taxes as outlined in ASC 740, “Income Taxes”. Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. |
Loss per Share Calculation | Loss per Share Calculation The Company complies with accounting and disclosure requirements of FASB ASC 260, “Earnings Per Share.” Net loss per common share is computed by dividing net loss applicable to common stockholders by the weighted average number of common shares outstanding for the period. For the three months ended April 30, 2019 and 2018, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into common stock and then share in the earnings of the Company. As a result, diluted loss per common share is the same as basic loss per common share for the period. |
Fair values of financial instruments | Fair values of financial instruments ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value: Level 1 – quoted prices in active markets for identical assets or liabilities. Level 2 – quoted prices for similar assets and liabilities in active markets or inputs that are observable Level 3 – inputs that are unobservable There were no assets or liabilities measured at fair value on a recurring basis subject to the disclosure requirements of ASC 820 as of April 30, 2019 and January 31, 2019. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In August 2018, the FASB issued Accounting Standards Update (ASU) 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement”, which changes the fair value measurement disclosure requirements of ASC 820. This update is effective for fiscal years beginning after December 15, 2019, and for interim periods within those fiscal years. The Company does not expect the adoption of ASU 2018-13 to have a material impact on its financial statements. |
Note 6 - INCOME TAXES (Tables)
Note 6 - INCOME TAXES (Tables) | 3 Months Ended |
Apr. 30, 2019 | |
Accounting Policies [Abstract] | |
Schedule of deferred income tax assets | The significant component of deferred income tax assets as of April 30, 2019 and January 31, 2019 is as follows: April 30, 2019 January 31, 2019 Net operating loss carry-forward $ 26,915 $ 22,221 Valuation allowance (26,915 ) (22,221 ) Net deferred tax asset $ — $ — |
Schedule of provision for income taxes on loss before taxes | 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 are analyzed below: For the Three Months Ended April 30, 2019 April 30, 2018 Statutory tax benefit (21 )% (21 )% Change in deferred tax asset valuation allowance 21 % 21 % Provision for income taxes — % — % |
Note 1 - ORGANIZATION AND PRINC
Note 1 - ORGANIZATION AND PRINCIPAL ACTIVITIES (Details Narrative) | 3 Months Ended |
Apr. 30, 2019 | |
Accounting Policies [Abstract] | |
Date of Incorporation | Oct. 21, 2015 |
State of Incorporation | Nevada |
Note 4 - PREPAID EXPENSES (Deta
Note 4 - PREPAID EXPENSES (Details Narrative) - USD ($) | Apr. 30, 2019 | Jan. 31, 2019 |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ||
Prepaid expenses | $ 7,000 | $ 10,000 |
Note 5 - ACCRUED LIABILITIES (D
Note 5 - ACCRUED LIABILITIES (Details Narrative) - USD ($) | Apr. 30, 2019 | Jan. 31, 2019 |
Payables and Accruals [Abstract] | ||
Accrued liabilities | $ 200 | $ 0 |
Note 6 - INCOME TAXES - Deferre
Note 6 - INCOME TAXES - Deferred Tax Asset, net (Details) - USD ($) | Apr. 30, 2019 | Jan. 31, 2019 |
Accounting Policies [Abstract] | ||
Net operating loss carry-forward | $ 26,915 | $ 22,221 |
Valuation Allowance | (26,915) | (22,221) |
Net deferred tax assets | $ 0 | $ 0 |
Note 6 - INCOME TAXES - Provisi
Note 6 - INCOME TAXES - Provision for income taxes on loss before taxes (Details) | 3 Months Ended | |
Apr. 30, 2019 | Apr. 30, 2018 | |
Accounting Policies [Abstract] | ||
Statutory tax benefit | (21.00%) | (21.00%) |
Change in deferred tax asset valuation allowance | 21.00% | 21.00% |
Provision for income taxes | 0.00% | 0.00% |
Note 6 - INCOME TAXES (Details
Note 6 - INCOME TAXES (Details Narrative) - USD ($) | 3 Months Ended | |
Apr. 30, 2019 | Apr. 30, 2018 | |
Accounting Policies [Abstract] | ||
Net operating loss carry forwards | $ (128,165) | |
Deferred tax asset | $ 26,915 | |
Statutory rate | 21.00% | 21.00% |
Note 7 - RELATED PARTY TRANSA_2
Note 7 - RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 3 Months Ended | ||
Apr. 30, 2019 | Apr. 30, 2018 | Jan. 31, 2019 | |
Related Party Transactions [Abstract] | |||
Proceed from loan - related party | $ 19,150 | $ 6,175 | |
Loan from related parties | $ 103,265 | $ 84,115 |
Note 8 - SUBSEQUENT EVENTS (Det
Note 8 - SUBSEQUENT EVENTS (Details Narrative) | May 15, 2019USD ($)$ / sharesshares |
Subsequent Events [Abstract] | |
Common stock issued for cash | shares | 817,108 |
Gross proceeds | $ | $ 16,342 |
Stock price | $ / shares | $ 0.02 |