Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2016 | Nov. 21, 2016 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q3 | |
Entity Registrant Name | Lepora Holdings, Inc. | |
Entity Central Index Key | 1,662,645 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 5,500,000 |
Condensed Balance Sheets
Condensed Balance Sheets - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Current Assets | ||
Cash and cash equivalents | $ 0 | $ 0 |
Total Current Assets | 0 | 0 |
Total Assets | 0 | 0 |
Current Liabilities | ||
Accrued liabilities | 6,387 | 1,000 |
Payable to related party | 2,984 | 0 |
Total Current Liabilities | 9,371 | 1,000 |
Total Liabilities | 9,371 | 1,000 |
Commitments and Contingencies (Note 6) | ||
Stockholders' Deficit | ||
Preferred stock, $0.0001 par value, 20,000,000 shares authorized; none issued and outstanding at September 30, 2016 and December 31, 2015, respectively | 0 | 0 |
Common stock, $0.0001 par value, 100,000,000 shares authorized; 5,500,000 shares and 20,000,000 shares issued and outstanding at September 30, 2016 and December 31, 2015, respectively | 550 | 2,000 |
Discount on common stock | (550) | (2,000) |
Additional paid-in capital | 1,919 | 312 |
Accumulated deficit | (11,290) | (1,312) |
Total Stockholders' Deficit | (9,371) | (1,000) |
Total Liabilities and Stockholders' Deficit | $ 0 | $ 0 |
Condensed Balance Sheets (Paren
Condensed Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 2016 | Dec. 31, 2015 |
Preferred Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 |
Preferred Stock, Shares Authorized | 20,000,000 | 20,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 |
Common Stock, Shares Authorized | 100,000,000 | 100,000,000 |
Common Stock, Shares, Issued | 5,500,000 | 20,000,000 |
Common Stock, Shares, Outstanding | 5,500,000 | 20,000,000 |
Condensed Statements of Operati
Condensed Statements of Operations - USD ($) | 3 Months Ended | 9 Months Ended |
Sep. 30, 2016 | Sep. 30, 2016 | |
Revenue | $ 0 | $ 0 |
Cost of Revenue | 0 | 0 |
Gross Profit | 0 | 0 |
Operating Expenses | ||
General and administrative expenses | 6,121 | 9,978 |
Total Operating Expenses | 6,121 | 9,978 |
Operating Loss | (6,121) | (9,978) |
Other Income (Expenses) | 0 | 0 |
Loss From Operations Before Income Tax | (6,121) | (9,978) |
Provision For Income Tax | 0 | 0 |
Net Loss | $ (6,121) | $ (9,978) |
Basic and Diluted Net Loss Per Share | $ 0 | $ 0 |
Weighted Average Number of Shares Outstanding | 5,500,000 | 13,260,949 |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows | 9 Months Ended |
Sep. 30, 2016USD ($) | |
Cash Flows from Operating Activities | |
Net loss | $ (9,978) |
Adjustment to reconcile net loss to net cash used in operating activities: | |
Expenses paid by stockholder contributed as capital | 1,607 |
Changes in operating assets and liabilities | |
Increase in accrued liabilities | 5,387 |
Net Cash Used in Operating Activities | (2,984) |
Cash Flows from Financing Activities | |
Cash proceeds from related party to settle debt | 2,984 |
Net Cash Provided by Financing Activities | 2,984 |
Net Increase in Cash and Cash Equivalents | 0 |
Cash and Cash Equivalents, Beginning of the Period | 0 |
Cash and Cash Equivalents, End of the Period | 0 |
Supplemental Disclosures of Cash Flow Information | |
Cash paid for income taxes | 0 |
Cash paid for interest | $ 0 |
NATURE OF OPERATIONS AND BASIS
NATURE OF OPERATIONS AND BASIS OF PRESENTATION | 9 Months Ended |
Sep. 30, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1 NATURE OF OPERATIONS AND BASIS OF PRESENTATION NATURE OF OPERATIONS Lepora Holdings, Inc. (formerly Event Hill Acquisition Corporation) (the "Company") was incorporated on December 11, 2015 under the laws of the state of Delaware to engage in any lawful corporate undertaking, including, but not limited to, selected mergers and acquisitions. The Company registered its common stock on a Form 10 Registration Statement filed pursuant to the Securities and Exchange Act of 1934 (the “Exchange Act) and Rule 12 (g) thereof on January 7, 2016, by which it became a public reporting company. The Company has been formed to provide a method for a foreign or domestic private company to become a reporting company with a class of securities registered under the Securities Exchange Act of 1934. On December 11, 2015, the Company issued to the founders (two officers and directors) 20,000,000 0.0001 2,000 5,000,000 0.0001 19,500,000 20,000,000 Since the change in control, the Company plans to develop China and Asian markets for the sale of products which are designed to improve air, water, health and the home environment. The products include ParadisePURE water filtration systems which reduce pollutants produced by industry, agriculture and nature including chlorine, chloroform, herbicides, pesticides, lead, silver, arsenic, chromium and mercury and over 50 volatile organic compounds. ParadisePURE water filters also remove unpleasant odors and cloudiness and makes water better tasting while retaining naturally occurring beneficial minerals essential for good health. Other products include the ParadisePAD "health pad" which is intended to provide beneficial and enjoyable home therapy and comfort through the application of infrared waves, soothing heat, and hot micro-stone therapy. The Company believes that the demand for these products will be strong in the target markets in Asia where much of the water is polluted and air pollution commonly reaches dangerous levels and consumers are becoming increasingly health conscious. BASIS OF PRESENTATION The summary of significant accounting policies presented below are designed to assist in understanding the Company's unaudited condensed financial statements. Such unaudited condensed financial statements and accompanying notes are the representations of the Company's management, who are responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America ("GAAP") in all material respects, and have been consistently applied in preparing the accompanying unaudited condensed financial statements. Certain information and footnote disclosures normally present in annual financial statements prepared in accordance with GAAP were omitted pursuant to such rules and regulations. The results for the nine months ended September 30, 2016, are not necessarily indicative of the results to be expected for the year ending December 31, 2016. |
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Sep. 30, 2016 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | NOTE 2 SIGNIFICANT ACCOUNTING POLICIES The following summary of significant accounting policies of the Company is presented to assist in the understanding of the Company’s financial statements. The financial statements and notes are the representation of the Company’s management who is responsible for their integrity and objectivity. The financial statements of the Company conform to accounting principles generally accepted in the United States of America. The preparation of unaudited condensed financial statements in conformity with 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 condensed financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Cash and cash equivalents include cash on hand and deposits held at banking institutions as well as all highly liquid short-term investments with original maturities of 90 days or less. The Company did not have cash equivalents as of September 30, 2016 and December 31, 2015, respectively. Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash. The Company places its cash with high quality banking institutions. The Company did not have cash balances in excess of the Federal Deposit Insurance Corporation limit as of September 30, 2016. Under the Accounting Standards Codification (ASC) 740, "Income Taxes," deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary 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 expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Valuation allowances are established when it is more likely than not that some or all of the deferred tax assets will not be realized. As of September 30, 2016, there were no deferred taxes due to the uncertainty of the realization of net operating loss or carry forward prior to expiration. Basic loss per common share excludes dilution, and is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted loss per common share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the loss of the entity. As of September 30, 2016, there are no outstanding dilutive securities. The Company follows guidance for accounting for fair value measurements of financial assets and financial liabilities and for fair value measurements of non-financial items that are recognized or disclosed at fair value in the unaudited condensed financial statements on a recurring basis. Additionally, the Company adopted guidance for fair value measurement related to non-financial items that are recognized and disclosed at fair value in the unaudited condensed financial statements on a nonrecurring basis. The guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to measurements involving significant unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows: Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability. The carrying amounts of financial assets such as cash approximate their fair values because of the short maturity of these instruments. The Company’s financial instruments consist principally of accrued liabilities payable to a related party. Pursuant to ASC 820 and ASC 825, “ Financial Instruments” In January 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update (ASU) No. 2015-01 Income Statement Extraordinary and Unusual Items On April 30, 2015, FASB issued ASU No. 2015-06 Earnings Per Share partners, and incentive distribution rights holders each participate differently in the distribution of available cash. When a general partner transfers (or "drops down") net assets to a master limited partnership and that transaction is accounted for as a transaction between entities under common control, the statements of operations of the master limited partnership are adjusted retrospectively to reflect the dropdown transaction as if it occurred on the earliest date during which the entities were under common control. The amendments in this Update specify that for purposes of calculating historical EPU under the two-class method, the earnings (losses) of a transferred business before the date of a dropdown transaction should be allocated entirely to the general partner interest, and previously reported EPU of the limited partners would not change as a result of a dropdown transaction. Qualitative disclosures about how the rights to the earnings (losses) differ before and after the dropdown transaction occurs also are required. This Accounting Standards Update is the final version of Proposed Accounting Standards Update EITF-14A Earnings Per Share Effects on Historical Earnings per Unit of Master Limited Partnership Dropdown Transactions On November 20, 2015, FASB issued ASU-2015-17- Income Taxes The FASB issued ASU 2016-02, “ Leases” (Topic 842) The Company has implemented all accounting pronouncements that are in effect that might have a material impact on its financial position or results of operations. |
GOING CONCERN
GOING CONCERN | 9 Months Ended |
Sep. 30, 2016 | |
Going Concern [Abstract] | |
Substantial Doubt about Going Concern [Text Block] | NOTE 3 GOING CONCERN The Company has not yet generated any revenue since inception to date and has sustained operating loss of $ 6,121 9,978 9,371 11,290 The accompanying unaudited condensed financial statements have been prepared assuming that the Company will continue as a going concern; however, the above condition raises substantial doubt about the Company's ability to do so. The unaudited condensed 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. In order to maintain its current level of operations, the Company will require additional working capital from either cash flow from operations or from the sale of its equity. However, the Company currently has no commitments from any third parties for the purchase of its equity. If the Company is unable to acquire additional working capital, it will be required to significantly change its business plans. |
ACCRUED LIABILITIES
ACCRUED LIABILITIES | 9 Months Ended |
Sep. 30, 2016 | |
Payables and Accruals [Abstract] | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | NOTE 4 ACCRUED LIABILITIES The Company has accrued filing fees of $ 2,387 1,000 |
PAYABLE TO RELATED PARTY
PAYABLE TO RELATED PARTY | 9 Months Ended |
Sep. 30, 2016 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure [Text Block] | NOTE 5 PAYABLE TO RELATED PARTY The Company received cash advances from its Chief Executive Officer (“Officer”) to settle its obligations in the normal course of business. The cash advances received are unsecured, non-interest bearing and due on demand. At September 30, 2016 and December 31, 2015, cash advances received by the Company from its Officer were $ 2,984 0 |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 9 Months Ended |
Sep. 30, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 6 COMMITMENTS AND CONTINGENCIES LEGAL COSTS AND CONTINGENCIES In the normal course of business, the Company incurs costs to hire and retain external legal counsel to advise it on regulatory, litigation and other matters. The Company expenses these costs as the related services are received. If a loss is considered probable and the amount can be reasonable estimated, the Company recognizes an expense for the estimated loss. If the Company has the potential to recover a portion of the estimated loss from a third party, the Company makes a separate assessment of recoverability and reduces the estimated loss if recovery is also deemed probable. |
STOCKHOLDERS' DEFICIT
STOCKHOLDERS' DEFICIT | 9 Months Ended |
Sep. 30, 2016 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 7 STOCKHOLDERS' DEFICIT The Company’s capitalization at September 30, 2016 was 100,000,000 0.0001 20,000,000 0.0001 COMMON STOCK On December 11, 2015, the Company issued 20,000,000 0.0001 2,000 On May 26, 2016, the Company effected a change in control, and redeemed 19,500,000 20,000,000 On May 27, 2016, the Company issued 5,000,000 500 4,980,000 20,000 PREFERRED STOCK No shares of preferred stock are issued and outstanding at September 30, 2016. |
SUBSEQUENT EVENT
SUBSEQUENT EVENT | 9 Months Ended |
Sep. 30, 2016 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | NOTE 8 SUBSEQUENT EVENT Management has evaluated subsequent events through November 21, 2016, the date which the financial statements were available to be issued. All subsequent events requiring recognition as of September 30, 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 |
SIGNIFICANT ACCOUNTING POLICI14
SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Sep. 30, 2016 | |
Accounting Policies [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | USE OF ESTIMATES The preparation of unaudited condensed financial statements in conformity with 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 condensed financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. |
Cash and Cash Equivalents, Policy [Policy Text Block] | CASH Cash and cash equivalents include cash on hand and deposits held at banking institutions as well as all highly liquid short-term investments with original maturities of 90 days or less. The Company did not have cash equivalents as of September 30, 2016 and December 31, 2015, respectively. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | CONCENTRATION OF RISK Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash. The Company places its cash with high quality banking institutions. The Company did not have cash balances in excess of the Federal Deposit Insurance Corporation limit as of September 30, 2016. |
Income Tax, Policy [Policy Text Block] | INCOME TAXES Under the Accounting Standards Codification (ASC) 740, "Income Taxes," deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary 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 expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Valuation allowances are established when it is more likely than not that some or all of the deferred tax assets will not be realized. As of September 30, 2016, there were no deferred taxes due to the uncertainty of the realization of net operating loss or carry forward prior to expiration. |
Earnings Per Share, Policy [Policy Text Block] | LOSS PER COMMON SHARE Basic loss per common share excludes dilution, and is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted loss per common share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the loss of the entity. As of September 30, 2016, there are no outstanding dilutive securities. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | FAIR VALUE OF FINANCIAL INSTRUMENTS The Company follows guidance for accounting for fair value measurements of financial assets and financial liabilities and for fair value measurements of non-financial items that are recognized or disclosed at fair value in the unaudited condensed financial statements on a recurring basis. Additionally, the Company adopted guidance for fair value measurement related to non-financial items that are recognized and disclosed at fair value in the unaudited condensed financial statements on a nonrecurring basis. The guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to measurements involving significant unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows: Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability. The carrying amounts of financial assets such as cash approximate their fair values because of the short maturity of these instruments. The Company’s financial instruments consist principally of accrued liabilities payable to a related party. Pursuant to ASC 820 and ASC 825, “ Financial Instruments” |
New Accounting Pronouncements, Policy [Policy Text Block] | RECENT ACCOUNTING PRONOUNCEMENTS In January 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update (ASU) No. 2015-01 Income Statement Extraordinary and Unusual Items On April 30, 2015, FASB issued ASU No. 2015-06 Earnings Per Share partners, and incentive distribution rights holders each participate differently in the distribution of available cash. When a general partner transfers (or "drops down") net assets to a master limited partnership and that transaction is accounted for as a transaction between entities under common control, the statements of operations of the master limited partnership are adjusted retrospectively to reflect the dropdown transaction as if it occurred on the earliest date during which the entities were under common control. The amendments in this Update specify that for purposes of calculating historical EPU under the two-class method, the earnings (losses) of a transferred business before the date of a dropdown transaction should be allocated entirely to the general partner interest, and previously reported EPU of the limited partners would not change as a result of a dropdown transaction. Qualitative disclosures about how the rights to the earnings (losses) differ before and after the dropdown transaction occurs also are required. This Accounting Standards Update is the final version of Proposed Accounting Standards Update EITF-14A Earnings Per Share Effects on Historical Earnings per Unit of Master Limited Partnership Dropdown Transactions On November 20, 2015, FASB issued ASU-2015-17- Income Taxes The FASB issued ASU 2016-02, “ Leases” (Topic 842) The Company has implemented all accounting pronouncements that are in effect that might have a material impact on its financial position or results of operations. |
NATURE OF OPERATIONS AND BASI15
NATURE OF OPERATIONS AND BASIS OF PRESENTATION (Details Textual) - USD ($) | 1 Months Ended | ||||
May 27, 2016 | May 26, 2016 | Sep. 30, 2016 | Dec. 31, 2015 | Dec. 11, 2015 | |
Nature Of Operations And Basis Of Presentation [Line Items] | |||||
Common Stock, Shares, Issued | 5,500,000 | 20,000,000 | 20,000,000 | ||
Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | |
Common Stock, Discount on Shares | $ 500 | $ 550 | $ 2,000 | $ 2,000 | |
Stock Issued During Period, Shares, New Issues | 5,000,000 | ||||
Stock Redeemed or Called During Period, Shares | 19,500,000 | 19,500,000 | |||
Common Stock, Shares, Outstanding | 20,000,000 | 20,000,000 | 5,500,000 | 20,000,000 |
GOING CONCERN (Details Textual)
GOING CONCERN (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2016 | Dec. 31, 2015 | |
Going Concern [Line Items] | |||
Working Capital Deficit | $ 9,371 | $ 9,371 | |
Operating Income (Loss) | (6,121) | (9,978) | |
Retained Earnings (Accumulated Deficit) | $ (11,290) | $ (11,290) | $ (1,312) |
ACCRUED LIABILITIES (Details Te
ACCRUED LIABILITIES (Details Textual) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Accrued Liabilities [Line Items] | ||
Accrued Professional Fees, Current | $ 4,000 | $ 1,000 |
Other Accrued Liabilities, Current | $ 2,387 |
PAYABLE TO RELATED PARTY (Detai
PAYABLE TO RELATED PARTY (Details Textual) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Related Party Transaction [Line Items] | ||
Accounts Payable, Related Parties, Current | $ 2,984 | $ 0 |
STOCKHOLDERS' DEFICIT (Details
STOCKHOLDERS' DEFICIT (Details Textual) - USD ($) | 1 Months Ended | ||||
May 27, 2016 | May 26, 2016 | Sep. 30, 2016 | Dec. 31, 2015 | Dec. 11, 2015 | |
Class of Stock [Line Items] | |||||
Common Stock, Shares, Issued | 5,500,000 | 20,000,000 | 20,000,000 | ||
Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | |
Common Stock, Discount on Shares | $ 500 | $ 550 | $ 2,000 | $ 2,000 | |
Stock Redeemed or Called During Period, Shares | 19,500,000 | 19,500,000 | |||
Common Stock, Shares, Outstanding | 20,000,000 | 20,000,000 | 5,500,000 | 20,000,000 | |
Stock Issued During Period, Shares, New Issues | 5,000,000 | ||||
Preferred Stock, Shares Authorized | 20,000,000 | 20,000,000 | |||
Preferred Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 | |||
Common Stock, Shares Authorized | 100,000,000 | 100,000,000 | |||
Officers and Directors One [Member] | |||||
Class of Stock [Line Items] | |||||
Stock Issued During Period, Shares, New Issues | 4,980,000 | ||||
Officers and Directors Two [Member] | |||||
Class of Stock [Line Items] | |||||
Stock Issued During Period, Shares, New Issues | 20,000 |