Ando (ADHG) 10-Q 11 May 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Mar. 31, 2018	May 10, 2018
Document and Entity Information
Entity Registrant Name	Ando Holdings Ltd.
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Amendment Flag	false
Entity Central Index Key	1,663,641
Current Fiscal Year End Date	--09-30
Entity Common Stock, Shares Outstanding		12,000,000
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Trading Symbol	ando

Balance Sheets

Balance Sheets - USD ($)	Mar. 31, 2018	Sep. 30, 2017
Current Assets
Prepaid expenses	$ 2,865	$ 7,900
Total Current Assets	2,865	7,900
TOTAL ASSETS	2,865	7,900
Current Liabilities
Accounts payable and accrued expenses	400	2,500
Related party loans	27,870	14,150
Total Current Liabilities	28,270	16,650
TOTAL LIABILITIES	28,270	16,650
STOCKHOLDERS' EQUITY (DEFICIT)
Common stock value	12,000	12,000
Additional paid-in capital	58,840	58,840
Accumulated deficit	(96,245)	(79,590)
Total Stockholders' Equity (Deficit)	(25,405)	(8,750)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	$ 2,865	$ 7,900

Balance Sheets (parenthetical)

Balance Sheets (parenthetical) - $ / shares	Mar. 31, 2018	Sep. 30, 2017
Balance Sheet
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	12,000,000	12,000,000
Common stock, shares outstanding	12,000,000	12,000,000

Statements of Operations

Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Income Statement
Revenues		$ 6,000		$ 10,000
Operating Expenses
General and administrative expenses	$ 3,495	1,305	$ 7,070	2,530
Professional fees	3,550	1,200	9,585	5,050
Total expenses	7,045	2,505	16,655	7,580
Income (loss) from operations	(7,045)	3,495	(16,655)	2,420
Provision for income taxes
Net income (loss)	$ (7,045)	$ 3,495	$ (16,655)	$ 2,420
Basic and diluted income (loss) per common share	$ 0	$ 0	$ 0	$ 0
Weighted average number of common shares outstanding	12,000,000	12,000,000	12,000,000	12,000,000

Statements of Cash Flows

Statements of Cash Flows - USD ($)	3 Months Ended	6 Months Ended
	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ 3,495	$ (16,655)	$ 2,420
Changes in operating assets and liabilities:
(Increase) decrease in accounts receivable			(4,000)
(Increase) decrease in prepaid expenses		5,035
Increase (decrease) in accounts payable and accrued expense		(2,100)	1,600
Net cash used in operating activities		(13,720)	20
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from related party debt		13,720
Net cash provided by financing activities		13,720
Net increase (decrease) in cash			20
Cash, beginning of period			4,050
Cash, end of period	$ 4,070		4,070
SUPPLEMENTAL DISCLOSURES
Interest paid
Income taxes paid
Expenses paid on behalf of the company		$ 13,720

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	6 Months Ended
	Mar. 31, 2018
Notes
Nature of Operations and Basis of Presentation	NOTE 1 - NATURE OF OPERATIONS AND BASIS OF PRESENTATION Ando Holdings Ltd. fka PC Mobile Media Corp. (“Ando Holdings Ltd. fka PC Mobile Media Corp.” or the “Company”) was incorporated in the State of Nevada on August 22, 2015 and its fiscal year end is September 30. The primary business of the company was previously to offer mobile billboard display advertising. After thorough discussion and analysis on the mobile billboard industry, the Company has decided to terminate its plans in the industry. The Company is currently pursuing other business opportunities in Hong Kong. The Company is contemplating purchasing two existing companies, one in financing and the other in the retail tea business. As of March 31, 2018, there has been no major progress regarding these acquisitions. On June 28, 2017, Paul Conforte, the holder of an aggregate of 8,000,000 shares of Common Stock of PC Mobile Media Corp sold all 8,000,000 Shares to twelve (12) purchasers for a total price of $275,000 or $.034 per share. As a result, a change of control occurred which resulted in the purchasers owning approximately 66.67% of the issued and outstanding shares of the Company. In addition, per an Assignment of Rights and Assumption of Liabilities Agreement, dated June 28, 2017, Mr. Conforte retained all assets and assumed all liabilities of the Company through June 30, 2017. On the same day, Mr. Conforte resigned all officer positions, including Chairman of the Board. Lam Chi Kwong Leo was appointed Chairman of the Board and Chief Executive Officer. Lee Hiu Lan was appointed as Secretary, Treasurer, and Chief Financial Officer. Chan Tung Ngai and Hu Jiasheng were both appointed as a Director. The appointments were effective on June 28, 2017. At present, the Company is strategizing the business plan of the previous owner to determine if that is the direction in which it wants to move forward. On September 5, 2017, the amendment to the Company’s articles of incorporation was declared effective in the State of Nevada, changing the Company’s name from PC Mobile Media Corp. to Ando Holdings Ltd. As of September 25, 2017, FINRA accepted the name change and issued ADHG as the new trading symbol of the Company.

Going Concern

Going Concern	6 Months Ended
	Mar. 31, 2018
Notes
Going Concern	NOTE 2 - GOING CONCERN The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. For the period from inception on August 22, 2015 through March 31, 2018, the Company has had minimal operations, and has accumulated a deficit of $96,245. In view of this, the Company’s ability to continue as a going concern is dependent upon the Company’s ability to continue operations and to achieve a level of profitability large enough to cover the Company’s expenses. 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 other traditional financing sources, until such time that funds provided by operations are sufficient to fund working capital requirements. The financial statements of the Company do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classifications of liabilities that might be necessary should the Company be unable to continue as a going concern. Management has evaluated these factors and has determined that they raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the financial statements are issued. The officers and directors have agreed to advance funds to the Company to meet its obligations.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Mar. 31, 2018
Notes
Summary of Significant Accounting Policies	NOTE 3 - BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The financial statements present the balance sheets, statements of operations and cash flows of the Company. These financial statements are presented in United States dollars and have been prepared in accordance with U.S. GAAP. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s September 30, 2017 audited financial statements. The results of operations for the period ended March 31, 2018 are not necessarily indicative of the operating results for a full year. In the opinion of management, all adjustments consisting of normal recurring entries necessary for a fair statement of the periods presented for: (a) the financial position; (b) the result of operations; and (c) cash flows, have been made in order to make the financial statements presented not misleading. Advertising Advertising costs are expensed as incurred. As of March 31, 2018 and 2017, no advertising costs have been incurred. Property The Company does not own or rent any property. The office space is provided by the CEO at no charge. Use of Estimates and Assumptions Preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Cash and Cash Equivalents For the purposes of the statement of cash flows, the Company considers highly liquid financial instruments purchased with a maturity of three months or less to be cash equivalent. At March 31, 2018 and September 30, 2017, the Company had $0 and $0 in cash, respectively. Accounts Receivable Accounts receivable are measured at amortized cost and shown net of allowance for doubtful accounts. At March 31, 2018 and September 30, 2017, the Company had $0 and $0 in accounts receivable, and $0 and $0 in allowance for doubtful accounts, respectively. Revenue and Cost Recognition The Company recognizes revenue when it is realized or realizable and earned. The Company considers revenue realized or realizable and earned when all of the following criteria are met: · · · · For the three months ended March 31, 2018 and 2017, the Company realized revenue in the amount of $0 and $6,000, respectively. For the six months ended March 31, 2018 and 2017, the Company realized revenue in the amount of $0 and $10,000, respectively. Net Loss per Share Basic loss per share includes no dilution and is computed by dividing loss available to common stockholders by the weighted average number of common shares outstanding for the period. Dilutive loss per share reflects the potential dilution of securities that could share in the losses of the Company. Because the Company does not have any potentially dilutive securities, the accompanying presentation is only of basic loss per share. Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued that we adopt as of the specified effective date. We believe that the impact of recently issued standards that are not yet effective may have an impact on our results of operations and financial position. ASU Update 2014-09 Revenue from Contracts with Customers (Topic 606) issued May 28, 2014 by FASB and IASB converged guidance on recognizing revenue in contracts with customers on an effective date after March 31, 2018 will be evaluated as to impact and implemented accordingly. In August 2014, the FASB issued ASU No. 2014-15, Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern. The amendments require management to perform interim and annual assessments of an entity’s ability to continue as a going concern and provides guidance on determining when and how to disclose going concern uncertainties in the financial statements. The standard applies to all entities and is effective for annual and interim reporting periods ending after December 15, 2016, with early adoption permitted. The Company has adopted this standard and has included the appropriate disclosures in Note 2 to these financial statements. In February 2016, the FASB issued ASU 2016-02, Leases. The standard requires a lessee to recognize a liability to make lease payments and a right-of-use asset representing a right to use the underlying asset for the lease term on the balance sheet. The ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018, with early adoption permitted. We are currently evaluating the impact that this standard will have on our financial statements. In June 2016, the FASB issued ASU 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments.” ASU 2016-15 addresses diversity in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The amendments are effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019. Early adoption is permitted, including adoption in an interim period. The Company is evaluating the impact of this new requirement on the cash flows of the Company. The Company has evaluated all the recent accounting pronouncements and believes that none of them will have a material effect on the Company’s financial statement.

Capital Stock Disclosure

Capital Stock Disclosure	6 Months Ended
	Mar. 31, 2018
Notes
Capital Stock Disclosure	NOTE 4 - CAPITAL STOCK The Company is authorized to issue an aggregate of 75,000,000 common shares with a par value of $0.001 per share. No preferred shares have been authorized or issued. At both March 31, 2018 and September 30, 2017, 12,000,000 common shares were issued and outstanding. On September 22, 2015, the Company issued 5,750,000 Founder’s shares at $0.001 per share (par value) for total cash of $5,750. On September 22, 2015, the Company issued 2,250,000 shares for services provided since inception. These shares were issued at $0.001 per share (par value) for services valued at $2,250. During the quarter ended June 30, 2016, the Company issued 4,000,000 shares to 27 shareholders at $0.01 per share for total cash of $40,000. On June 30, 2017, the former shareholder released the debt owed to him in the amount of $22,840, per the June 28, 2017 Assignment of Rights and Assumption of Liabilities Agreement. This amount is represented in the financial statements as Contributed Capital. At March 31, 2018, there are no warrants or options outstanding to acquire any additional shares of common stock of the Company.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Mar. 31, 2018
Notes
Related Party Transactions	NOTE 5 - RELATED PARTY TRANSACTIONS At March 31, 2018 and September 30, 2017, an affiliate has paid expenses on behalf of the Company in the amount of $27,870 and $14,150, respectively. The loans are unsecured, payable on demand, and carry no interest. The Company does not own or rent any property. The office space is provided by the CEO at no charge.

Prepaid Expenses Disclosure

Prepaid Expenses Disclosure	6 Months Ended
	Mar. 31, 2018
Notes
Prepaid Expenses Disclosure	NOTE 6 - PREPAID EXPENSES Transfer agent fees and OTCQB annual fees are included as prepaid expenses. These expenses are stated at acquisition cost and are charged to expense over the periods the Company expects to benefit from them. At March 31, 2018 and September 30, 2017, the Company has prepaid expenses of $2,865 and $7,900, respectively.

Commitments and Contingencies D

Commitments and Contingencies Disclosure	6 Months Ended
	Mar. 31, 2018
Notes
Commitments and Contingencies Disclosure	NOTE 7 - COMMITMENTS AND CONTINGENCIES On March 18, 2017, Ando Capital Investment Limited engaged Acorn Assets & Equity Limited to identify and precipitate the purchase of a public company through a Consulting Agreement. On August 29, 2017, a supplement to the Consulting Agreement was signed to clarify certain terms of the agreement. The supplementary document states that the transfer agent fees incurred in the purchase, such as cancelation or issuance of share certificates, new CUSIP application, and printing of new share certificate templates, will be paid by Acorn Assets & Equity Limited until the completion of the initial Consulting Agreement. At March 31, 2018 and September 30, 2017, Acorn Assets & Equity Limited has paid transfer agent fees in the amounts of $3,830 and $1,215, respectively, on behalf of Ando Holdings Ltd.

Subsequent Events

Subsequent Events	6 Months Ended
	Mar. 31, 2018
Notes
Subsequent Events	NOTE 8 - SUBSEQUENT EVENTS Management has evaluated subsequent events through the date the financial statements were available to be issued. Management is not aware of any significant events that occurred subsequent to the balance sheet date that would have a material effect on the financial statements thereby requiring adjustment or disclosure.

Summary of Significant Accoun14

Summary of Significant Accounting Policies: Basis of Presentation (Policies)	6 Months Ended
	Mar. 31, 2018
Policies
Basis of Presentation	Basis of Presentation The financial statements present the balance sheets, statements of operations and cash flows of the Company. These financial statements are presented in United States dollars and have been prepared in accordance with U.S. GAAP. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s September 30, 2017 audited financial statements. The results of operations for the period ended March 31, 2018 are not necessarily indicative of the operating results for a full year. In the opinion of management, all adjustments consisting of normal recurring entries necessary for a fair statement of the periods presented for: (a) the financial position; (b) the result of operations; and (c) cash flows, have been made in order to make the financial statements presented not misleading.

Summary of Significant Accoun15

Summary of Significant Accounting Policies: Advertising Costs Policy (Policies)	6 Months Ended
	Mar. 31, 2018
Policies
Advertising Costs Policy	Advertising Advertising costs are expensed as incurred. As of March 31, 2018 and 2017, no advertising costs have been incurred.

Summary of Significant Accoun16

Summary of Significant Accounting Policies: Property Policy (Policies)	6 Months Ended
	Mar. 31, 2018
Policies
Property Policy	Property The Company does not own or rent any property. The office space is provided by the CEO at no charge.

Summary of Significant Accoun17

Summary of Significant Accounting Policies: Use of Estimates and Assumptions (Policies)	6 Months Ended
	Mar. 31, 2018
Policies
Use of Estimates and Assumptions	Use of Estimates and Assumptions Preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.

Summary of Significant Accoun18

Summary of Significant Accounting Policies: Cash and Cash Equivalents Policy (Policies)	6 Months Ended
	Mar. 31, 2018
Policies
Cash and Cash Equivalents Policy	Cash and Cash Equivalents For the purposes of the statement of cash flows, the Company considers highly liquid financial instruments purchased with a maturity of three months or less to be cash equivalent. At March 31, 2018 and September 30, 2017, the Company had $0 and $0 in cash, respectively.

Summary of Significant Accoun19

Summary of Significant Accounting Policies: Accounts Receivable Policy (Policies)	6 Months Ended
	Mar. 31, 2018
Policies
Accounts Receivable Policy	Accounts Receivable Accounts receivable are measured at amortized cost and shown net of allowance for doubtful accounts. At March 31, 2018 and September 30, 2017, the Company had $0 and $0 in accounts receivable, and $0 and $0 in allowance for doubtful accounts, respectively.

Summary of Significant Accoun20

Summary of Significant Accounting Policies: Revenue and Cost Recognition Policy (Policies)	6 Months Ended
	Mar. 31, 2018
Policies
Revenue and Cost Recognition Policy	Revenue and Cost Recognition The Company recognizes revenue when it is realized or realizable and earned. The Company considers revenue realized or realizable and earned when all of the following criteria are met: · · · · For the three months ended March 31, 2018 and 2017, the Company realized revenue in the amount of $0 and $6,000, respectively. For the six months ended March 31, 2018 and 2017, the Company realized revenue in the amount of $0 and $10,000, respectively.

Summary of Significant Accoun21

Summary of Significant Accounting Policies: Net Loss Per Share Policy (Policies)	6 Months Ended
	Mar. 31, 2018
Policies
Net Loss Per Share Policy	Net Loss per Share Basic loss per share includes no dilution and is computed by dividing loss available to common stockholders by the weighted average number of common shares outstanding for the period. Dilutive loss per share reflects the potential dilution of securities that could share in the losses of the Company. Because the Company does not have any potentially dilutive securities, the accompanying presentation is only of basic loss per share.

Summary of Significant Accoun22

Summary of Significant Accounting Policies: Recent Accounting Pronouncements (Policies)	6 Months Ended
	Mar. 31, 2018
Policies
Recent Accounting Pronouncements	Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued that we adopt as of the specified effective date. We believe that the impact of recently issued standards that are not yet effective may have an impact on our results of operations and financial position. ASU Update 2014-09 Revenue from Contracts with Customers (Topic 606) issued May 28, 2014 by FASB and IASB converged guidance on recognizing revenue in contracts with customers on an effective date after March 31, 2018 will be evaluated as to impact and implemented accordingly. In August 2014, the FASB issued ASU No. 2014-15, Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern. The amendments require management to perform interim and annual assessments of an entity’s ability to continue as a going concern and provides guidance on determining when and how to disclose going concern uncertainties in the financial statements. The standard applies to all entities and is effective for annual and interim reporting periods ending after December 15, 2016, with early adoption permitted. The Company has adopted this standard and has included the appropriate disclosures in Note 2 to these financial statements. In February 2016, the FASB issued ASU 2016-02, Leases. The standard requires a lessee to recognize a liability to make lease payments and a right-of-use asset representing a right to use the underlying asset for the lease term on the balance sheet. The ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018, with early adoption permitted. We are currently evaluating the impact that this standard will have on our financial statements. In June 2016, the FASB issued ASU 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments.” ASU 2016-15 addresses diversity in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The amendments are effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019. Early adoption is permitted, including adoption in an interim period. The Company is evaluating the impact of this new requirement on the cash flows of the Company. The Company has evaluated all the recent accounting pronouncements and believes that none of them will have a material effect on the Company’s financial statement.

Nature of Operations and Basi23

Nature of Operations and Basis of Presentation (Details) - Change of control	12 Months Ended
	Sep. 30, 2017USD ($)shares
Common stock sold by majority shareholder | shares	8,000,000
Total price in sale of common stock | $	$ 275,000
Purchaser ownership percentage after transaction	66.67%

Going Concern (Details)

Going Concern (Details) - USD ($)	Mar. 31, 2018	Sep. 30, 2017
Details
Accumulated deficit	$ 96,245	$ 79,590

Summary of Significant Accoun25

Summary of Significant Accounting Policies: Revenue and Cost Recognition Policy (Details) - USD ($)	3 Months Ended	6 Months Ended
	Mar. 31, 2017	Mar. 31, 2017
Details
Revenues	$ 6,000	$ 10,000

Capital Stock Disclosure (Detai

Capital Stock Disclosure (Details) - USD ($)	1 Months Ended	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2017	Sep. 30, 2016	Mar. 31, 2018
Common shares authorized		75,000,000		75,000,000
Par value of common shares		$ 0.001		$ 0.001
Common shares issued for cash	5,750,000		4,000,000
Proceeds from stock issuance	$ 5,750		$ 40,000
Common shares issued for services provided	2,250,000
Value of services for stock provided	$ 2,250
Former shareholder releasing the debt owed to him
Proceeds from contributed capital		$ 22,840

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	Mar. 31, 2018	Sep. 30, 2017
Related party loans	$ 27,870	$ 14,150
Expenses paid by an affiliate
Related party loans	$ 27,870	$ 14,150

Prepaid Expenses Disclosure (De

Prepaid Expenses Disclosure (Details) - USD ($)	Mar. 31, 2018	Sep. 30, 2017
Details
Prepaid expenses	$ 2,865	$ 7,900

Commitments and Contingencies29

Commitments and Contingencies Disclosure (Details) - USD ($)	6 Months Ended	12 Months Ended
	Mar. 31, 2018	Sep. 30, 2017
Decrease in amounts due to service providers	$ 13,720
Payment of transfer agent fees by third party
Decrease in amounts due to service providers	$ 3,830	$ 1,215