Quantumzyme (QTZM) 10-K 20 Nov 18 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Jul. 31, 2018	Nov. 20, 2018	Jan. 31, 2018
Document And Entity Information
Entity Registrant Name	Reliant Service Inc
Entity Central Index Key	1,663,038
Document Type	10-K
Document Period End Date	Jul. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--07-31
Entity a Well-known Seasoned Issuer	No
Entity a Voluntary Filer	No
Entity's Reporting Status Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	true
Entity Public Float			$ 0
Entity Common Stock, Shares Outstanding		5,015,000
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,018

Balance Sheets

Balance Sheets - USD ($)	Jul. 31, 2018	Jul. 31, 2017
Current Assets
Cash and cash equivalents		$ 2,744
Income tax benefit		4,704
Total Current Assets		7,448
Fixed Assets
Czech Office Building		11,900
Less Accumulated Depreciation		(1,305)
Total Fixed Assets		10,595
Total Assets	0	18,043
Current Liabilities
Accounts Payable	524
Advances from Related Party		100
Accrued Liabilities	8,000
Total Current Liabilities	8,524	100
Stockholders' (Deficiency)/Equity
Common stock, $0.001 par value, 75,000,000 shares authorized; 5,015,000 shares issued and outstanding as of July 31, 2018 and 2017	5,015	5,015
Additional Paid-In Capital	41,285	39,585
Accumulated Deficit	(54,824)	(26,657)
Total Stockholders' (Deficiency)/Equity	(8,524)	17,943
Total Liabilities & Stockholders' (Deficiency)/Equity	$ 0	$ 18,043

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Jul. 31, 2018	Jul. 31, 2017
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	5,015,000	5,015,000
Common stock, shares outstanding	5,015,000	5,015,000

Statement of Operations

Statement of Operations - USD ($)	12 Months Ended
	Jul. 31, 2018	Jul. 31, 2017
REVENUES
Merchandise Sales	$ 93,550	$ 128,147
COST OF SALES
Cost of Goods Sold	89,345	105,847
Gross Profit	4,205	22,300
Operating Expenses	17,121	60,957
Total Expenses	17,121	60,957
Other income/(expense):
Other Income	100
Other Expense	(15,351)
Total other income/(expense):	(15,251)
Loss Before Income Taxes	(28,167)	(38,657)
Income Tax Benefit (Provision)		5,799
Net Loss	$ (28,167)	$ (32,858)
Net Loss Per Basic and Diluted share	$ 0	$ 0
Weighted average number of Common Shares outstanding	5,015,000	5,015,000

Statement of Changes of Stockho

Statement of Changes of Stockholders' Deficiency - USD ($)	12 Months Ended
	Jul. 31, 2018	Jul. 31, 2017
Common Stock [Member]
Balance	$ 5,015	$ 4,000
Balance shares	5,015,000	4,000,000
Issuance of shares for cash		$ 1,015
Issuance of shares for cash, shares		1,015,000
Current shareholder waiver of liabilities
Net loss
Balance	$ 5,015	$ 5,015
Balance shares	5,015,000	5,015,000
Additional Paid-in Capital [Member]
Balance	$ 39,585
Issuance of shares for cash		39,585
Current shareholder waiver of liabilities	1,700
Net loss
Balance	41,285	39,585
Retained Earnings / (Accumulated Deficit) [Member]
Balance	(26,657)	6,201
Issuance of shares for cash
Current shareholder waiver of liabilities
Net loss	(28,167)	(32,858)
Balance	(54,824)	(26,657)
Balance	17,943	10,201
Issuance of shares for cash		40,600
Current shareholder waiver of liabilities	1,700
Net loss	(28,167)	(32,858)
Balance	$ (8,524)	$ 17,943

Statement of Cash Flows

Statement of Cash Flows - USD ($)	12 Months Ended
	Jul. 31, 2018	Jul. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ (28,167)	$ (32,858)
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Impairment of assets	10,160
Gain on waiver of liabilities from former shareholder	1,600
Depreciation	435	580
Changes in operating assets and liabilities:
Decrease/(increase) in income tax benefit	4,704	(4,704)
Decrease in income tax payable		(1,095)
Increase in accounts payable and accrued liabilities	8,524
Net cash used in operating activities	(2,744)	(38,077)
CASH FLOWS FROM INVESTING ACTIVITIES
Assumption of cash from former shareholder
Net cash used in investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Issuance of common stock		40,600
Net cash provided by financing activities		40,600
Net increase (decrease) in cash	(2,744)	2,523
Cash at beginning of year	2,744	221
Cash at end of year		2,744
Cash paid during year for:
Interest Expense
Income Taxes
NONCASH FINANCING ACTIVITIES:
Waiver of liabilities from former director	100
Waiver of liabilities from current director	$ 1,700

Organization and Nature of Busi

Organization and Nature of Business	12 Months Ended
	Jul. 31, 2018
Accounting Policies [Abstract]
Organization and Nature of Business	NOTE 1 - ORGANIZATION AND NATURE OF BUSINESS Reliant Service Inc. (the “Company”) was incorporated in the state of Nevada on March 20, 2015. The company develops marketing channels to distribute office equipment to the wholesale market in the United States. Our functional currency is the US Dollar and all the references to currency in the financial statements are in US Dollars. Basis of Presentation The Company prepares its financial statements on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (GAAP).

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Jul. 31, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES This summary of significant accounting policies is presented to assist in understanding these financial statements. The financial statements and notes are representations of management, who is responsible for their integrity and objectivity. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles 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 cash balances on deposit with financial institutions and highly liquid investments with a maturity of three months or less to be cash equivalents. Property and Equipment Property and equipment is stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over estimated useful lives listed below: Estimated Useful Life Building 15 years Income Taxes We account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, we determine deferred tax assets and liabilities on the basis of the differences between the financial statement and tax bases of the asset and liabilities by using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. We recognize deferred tax assets to the extent that we believe that these assets are more likely than not to be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies and results of recent operations. If we determine that we would be able to realize our deferred tax assets in the future in excess of their net recorded amount, we would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. We provided 100% allowance to the deferred tax asset and was directly written-off to other expenses. We record uncertain tax positions in accordance with ASC 740 on the basis of a two-step process in which (1) we determine whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold. We recognize the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. Revenue Recognition The Company recognizes revenues and the related costs when persuasive evidence of an arrangement exists, delivery and acceptance has occurred, the price is fixed or determinable, and collection of any resulting receivable is reasonably assured. Costs and expenses are recognized during the period in which they are incurred. Any revenues earned are from the sales of office equipment. The Company recognizes these sales once delivery time is confirmed by the customer. All revenue generated by the Company to date has been generated from U.S. sales and deposited to our U.S. bank account. Recent Accounting Pronouncements Management has considered all recent accounting pronouncements issued since the last audit of our financial statements. The Company’s management believes that these recent pronouncements will not have a material effect on the Company’s financial statements.

Going Concern

Going Concern	12 Months Ended
	Jul. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern	NOTE 3 - GOING CONCERN The accompanying financial statements and notes have been prepared assuming that the Company will continue as a going concern. For the year ended July 31, 2018, the Company had a net loss of $28,167 and an accumulated deficit of $54,824. The Company’s ability to continue as a going concern is dependent upon the Company’s ability to generate sufficient revenues to operate profitably or raise additional capital through debt financing and/or through sales of common stock. Management plans to fund operations of the Company through the proceeds from an offering pursuant to a Registration Statement on Form S-1 or private placements of restricted securities or the issuance of stock in lieu of cash for payment of services until such a time as profitable operations are achieved. There are no written agreements in place for such funding or issuance of securities and there can be no assurance that such will be available in the future. Management believes that this plan provides an opportunity for the Company to continue as a going concern. The failure to achieve the necessary levels of profitability or obtain the additional funding would be detrimental to the Company.

Property and Equipment

Property and Equipment	12 Months Ended
	Jul. 31, 2018
Property, Plant and Equipment [Abstract]
Property and Equipment	NOTE 4 - PROPERTY AND EQUIPMENT Property and equipment consist of the following: 2018 2017 Building $ - $ 11,900 Less accumulated depreciation - (1,305 ) $ - $ 10,595 The Company’s former principal offices were located at 3 Rabi, Rabi, Czech Republic, 34201. The property was purchased on July 30, 2015 for $11,900. The building was impaired and taken as a loss on May 14, 2018 as result of change in control. Depreciation expense for the years ended July 31, 2018 and 2017 was $435 and $580, respectively.

Common Stock and Issuance

Common Stock and Issuance	12 Months Ended
	Jul. 31, 2018
Equity [Abstract]
Common Stock and Issuance	NOTE 5 - COMMON STOCK AND ISSUANCE On July 17, 2015, 4,000,000 shares were issued to our sole director for $4,000. On October 28, 2016, pursuant to the company’s Registration Statement on Form S-1, 1,015,000 shares were issued to 31 independent shareholders. The shares were issued at a per share price of $0.04 for total proceeds of $40,600. The Company has authorized 75,000,000 common shares at $0.001 par value, of which 5,015,000 shares were issued and outstanding as of July 31, 2018.

Debt

Debt	12 Months Ended
	Jul. 31, 2018
Debt Disclosure [Abstract]
Debt	NOTE 6 - DEBT On April 14, 2015, the former director and president of the Company, made the initial deposit to the Company bank account in the amount $100 and was carried as a loan payable. The loan was non-interest bearing, unsecured and due upon demand. The loan was assumed by the former shareholder on May 14, 2018 as result of change in control. The assumption is recorded as other income. On July 10, 2018, the current director and president of the Company paid on behalf of the company certain expenses during the transition period of changing control. The current director waived such payables due to him and the Company recorded such waiver as an addition to additional paid in capital.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Jul. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 7 - RELATED PARTY TRANSACTIONS On April 14, 2015 the Director and President of the Company made the initial deposit to the Company bank account in the amount $100. The loan is non-interest bearing, unsecured and due upon demand. The loan was assumed by the former shareholder on May 14, 2018 as result of change in control. The assumption is taken as an addition to additional paid in capital. On July 17, 2015, 4,000,000 shares of the Company’s common stock were issued to our sole director for $4,000. The Company’s sole officer and director is involved in other business activities and may in the future, become involved in other business opportunities as they become available. On July 10, 2018, the current director and president of the Company paid on behalf of the company certain expenses during the transition period of changing control. The current director waived such payables due to him and the Company recorded such waiver as an addition to additional paid in capital.

Fair Value Measurements and Dis

Fair Value Measurements and Disclosure	12 Months Ended
	Jul. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements and Disclosure	NOTE 8 - FAIR VALUE MEASUREMENTS AND DISCLOSURE FASB ASC 820 defines fair value, establishes a framework for measuring fair value, and establishes a hierarchy of fair value inputs. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A fair value liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market. Valuation techniques that are consistent with the market, income or cost approach, as specified by FASB ASC 820, are used to measure fair value. The fair value hierarchy prioritized the inputs to valuation techniques used to measure fair value into three broad levels: Level I inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities the Company has the ability to access. Level II inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level III are unobservable inputs for the asset or liability and rely on management’s own assumptions that market participants would use in pricing the asset or liability. The unobservable inputs should be developed based on the best information available in the circumstances and may include the Company’s own data. As of July 31, 2018 and 2017, there were no level I, II, or III assets or liabilities.

Subsequent Events

Subsequent Events	12 Months Ended
	Jul. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	NOTE 9 - SUBSEQUENT EVENTS In preparing these financial statements, the company has evaluated events and transactions for potential recognition or disclosure through November 19, 2018, the date the financial statements were issued. There are no subsequent events to be reported.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Jul. 31, 2018
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles 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 cash balances on deposit with financial institutions and highly liquid investments with a maturity of three months or less to be cash equivalents.
Property and Equipment	Property and Equipment Property and equipment is stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over estimated useful lives listed below: Estimated Useful Life Building 15 years
Income Taxes	Income Taxes We account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, we determine deferred tax assets and liabilities on the basis of the differences between the financial statement and tax bases of the asset and liabilities by using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. We recognize deferred tax assets to the extent that we believe that these assets are more likely than not to be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies and results of recent operations. If we determine that we would be able to realize our deferred tax assets in the future in excess of their net recorded amount, we would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. We provided 100% allowance to the deferred tax asset and was directly written-off to other expenses. We record uncertain tax positions in accordance with ASC 740 on the basis of a two-step process in which (1) we determine whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold. We recognize the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority.
Revenue Recognition	Revenue Recognition The Company recognizes revenues and the related costs when persuasive evidence of an arrangement exists, delivery and acceptance has occurred, the price is fixed or determinable, and collection of any resulting receivable is reasonably assured. Costs and expenses are recognized during the period in which they are incurred. Any revenues earned are from the sales of office equipment. The Company recognizes these sales once delivery time is confirmed by the customer. All revenue generated by the Company to date has been generated from U.S. sales and deposited to our U.S. bank account.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Management has considered all recent accounting pronouncements issued since the last audit of our financial statements. The Company’s management believes that these recent pronouncements will not have a material effect on the Company’s financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Jul. 31, 2018
Accounting Policies [Abstract]
Schedule of Estimated Useful Life of Asset	Depreciation is computed using the straight-line method over estimated useful lives listed below: Estimated Useful Life Building 15 years

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Jul. 31, 2018
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consist of the following: 2018 2017 Building $ - $ 11,900 Less accumulated depreciation - (1,305 ) $ - $ 10,595

Organization and Nature of Bu_2

Organization and Nature of Business (Details Narrative)	12 Months Ended
	Jul. 31, 2018
Accounting Policies [Abstract]
State of incorporation	Nevada
Date of incorporation	Mar. 20, 2015

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details Narrative)	12 Months Ended
	Jul. 31, 2018
Accounting Policies [Abstract]
Deferred tax allowance percentage	100.00%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Estimated Useful Life of Asset (Details)	12 Months Ended
	Jul. 31, 2018
Building [Member]
Estimated useful lives	15 years

Going Concern (Details Narrativ

Going Concern (Details Narrative) - USD ($)	12 Months Ended
	Jul. 31, 2018	Jul. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss	$ (28,167)	$ (32,858)
Accumulated deficit	$ (54,824)	$ (26,657)

Property and Equipment (Details

Property and Equipment (Details Narrative) - USD ($)	12 Months Ended
	Jul. 31, 2018	Jul. 31, 2017
Property, Plant and Equipment [Abstract]
Payment to acquire property	$ 11,900
Depreciation expense	$ 435	$ 580

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($)	Jul. 31, 2018	Jul. 31, 2017
Property and equipment gross		$ 11,900
Less accumulated depreciation		(1,305)
Property and equipment net		10,595
Building [Member]
Property and equipment gross		$ 11,900

Common Stock and Issuance (Deta

Common Stock and Issuance (Details Narrative) - USD ($)	Oct. 28, 2016	Jul. 17, 2015	Jul. 31, 2017	Jul. 31, 2018
Number of shares issued, value			$ 40,600
Common stock, shares authorized			75,000,000	75,000,000
Common stock, par value			$ 0.001	$ 0.001
Common stock, shares issued			5,015,000	5,015,000
Common stock, shares outstanding			5,015,000	5,015,000
Director [Member]
Number of shares issued		4,000,000
Number of shares issued, value		$ 4,000
31 Independent Shareholders [Member]
Number of shares issued	1,015,000
Number of shares issued, value	$ 40,600
Shares issued price per share	$ 0.04

Debt (Details Narrative)

Debt (Details Narrative) - USD ($)	Jul. 31, 2018	Jul. 31, 2017	Apr. 14, 2015
Loan payable,– related party		$ 100
Director and President [Member]
Loan payable,– related party			$ 100

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	Jul. 17, 2015	Jul. 31, 2017	Jul. 31, 2018	Apr. 14, 2015
Advances from shareholder		$ 100
Number of shares issued, value		$ 40,600
Director and President [Member]
Advances from shareholder				$ 100
Director [Member]
Number of shares issued	4,000,000
Number of shares issued, value	$ 4,000