Hemp Naturals (HPMM) 10-Q 21 Feb 17 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	May 31, 2016	Feb. 21, 2017
Document and Entity Information
Entity Registrant Name	Hemp Naturals, Inc.
Document Type	10-Q
Document Period End Date	May 31, 2016
Amendment Flag	false
Entity Central Index Key	1,664,038
Current Fiscal Year End Date	--11-30
Entity Common Stock, Shares Outstanding		14,005,983
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	2,016
Document Fiscal Period Focus	Q2

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)	May 31, 2016	Nov. 30, 2015
CURRENT ASSETS:
Cash	$ 46,117	$ 100
Deposits	1,530	0
Inventory	999	0
Total Current Assets	48,646	100
TOTAL ASSETS	48,646	100
CURRENT LIABILITIES:
Accrued expenses	0	3,099
Total Current Liabilities	0	3,099
TOTAL LIABILITIES	0	3,099
STOCKHOLDERS' EQUITY (DEFICIT):
Preferred stock, $.0001 par value, 20,000,000 shares authorized; none issued and outstanding as of May 31, 2016 and November 30, 2015	0	0
Common stock , $.0001 par value, 500,000,000 shares authorized, 14,005,983 and 12,200,000 shares issued and outstanding as of May 31, 2016 and November 30, 2015, respectively	1,401	1,220
Additional Paid in Capital	70,078	10,100
Accumulated Deficit	(22,833)	(14,319)
Total Stockholders’ Equity/(Deficit)	48,646	(2,999)
TOTAL LIABILITIES & STOCKHOLDERS’ EQUITY/(DEFICIT)	$ 48,646	$ 100

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	May 31, 2016	Nov. 30, 2015
Statement of Financial Position [Abstract]
Preferred stock shares par value	$ .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 shares par value	$ 0.0001	$ 0.0001
Common stock shares authorized	500,000,000	500,000,000
Common stock shares issued	14,005,983	12,200,000
Common stock shares outstanding	14,005,983	12,200,000

Statement of Operations

Statement of Operations - USD ($)	3 Months Ended	6 Months Ended
	May 31, 2016	May 31, 2016
Revenues
Revenues	$ 0	$ 0
Total Revenues	0	0
General & Administrative Expenses
Organization and Related Expenses	2,124	2,164
Professional Fees	6,350	6,350
Total General & Administrative Expenses	8,474	8,514
Net Loss	$ (8,474)	$ (8,514)
Loss per share
Basic and Diluted Net Loss Per Common Share	$ 0	$ 0
Weighted average number of common shares outstanding – basic and diluted	13,684,644	12,946,378

Statement of Cash Flows

Statement of Cash Flows	6 Months Ended
	May 31, 2016USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (8,514)
Adjustments to reconcile Net Loss to net cash used in operating activities:
Expenses contributed to capital	3,449
Changes in current assets and liabilities:
Deposits	(1,530)
Inventory	(999)
Accrued expenses	(3,099)
Net cash provided used in operating activities	(10,693)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the sale of common stock	55,030
Contributions from related party	1,680
Total Cash Provided by Financing Activities	56,710
Net increase in cash and cash equivalents	46,017
Beginning cash balance	100
Ending cash balance	46,117
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest	0
Cash paid for income taxes	$ 0

1. Organization and Description

1. Organization and Description of Business	6 Months Ended
	May 31, 2016
Organization And Description Of Business
Organization and Description of Business	Hemp Naturals, Inc. (the Company) was incorporated under the laws of the State of Delaware on November 13, 2015. The Company intends to offer consumer goods that are made of industrial hemp and/or the non-psychoactive ingredients of the cannabis plant. The Company has elected November 30th as its year end.

2. Summary of Significant Accou

2. Summary of Significant Accounting Policies	6 Months Ended
	May 31, 2016
Summary Of Significant Accounting Policies
Summary of Significant Accounting Policies	Basis of Presentation This summary of significant accounting policies is presented to assist in understanding the Company's unaudited interim financial statements. These accounting policies conform to accounting principles, generally accepted in the United States of America, and have been consistently applied in the preparation of the unaudited interim financial statements. While the information presented in the accompanying interim financial statements for the three and six months ended May 31, 2016 is unaudited, it includes all adjustments which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the interim period presented in accordance with the accounting principles generally accepted in the United States of America. In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature. The accompanying unaudited interim financial statements should be read in conjunction with the Company’s audited financial statements (and notes thereto) for the period from November 13 (date of inception) to November 30, 2015 included elsewhere in the Company’s Form 1-A filed with the SEC on January 29, 2016. Operating results for the three and six months ended May 31, 2016 are not necessarily indicative of the results that can be expected for the year ending November 30, 2016. Inventories Inventories, consisting of products available for sale, are primarily accounted for using the first-in, first-out ("FIFO") method, and are valued at the lower of cost or market value. This valuation requires Hemp Naturals, Inc. to make judgments, based on currently-available information, about the likely method of disposition, such as through sales to individual customers, returns to product vendors, or liquidations, and expected recoverable values of each disposition category. Use of Estimates The preparation of unaudited interim financial statements in conformity with generally accepted accounting principles 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 period. In the opinion of management, all adjustments necessary in order to make the financial statements not misleading have been included. Actual results could differ from those estimates. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Cash and cash equivalents at May 31, 2016 and November 30, 2015 were $46,117 and $100, respectively. Related Parties The Company follows ASC 850, Related Party Disclosures,

3. Going Concern

3. Going Concern	6 Months Ended
	May 31, 2016
Going Concern
Going Concern	The Company’s unaudited interim financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern that contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company demonstrates adverse conditions that raise substantial doubt about the Company's ability to continue as a going concern for one year following the issuance of these unaudited interim financial statements. These adverse conditions are negative financial trends, specifically operating loss, working capital deficiency, and other adverse key financial ratios. The Company has not established any source of revenue to cover its operating costs. Management plans to fund operating expenses with related party contributions to capital. There is no assurance that management's plan will be successful. The unaudited interim financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary in the event that the Company cannot continue as a going concern.

4. Commitments and Contingencie

4. Commitments and Contingencies	6 Months Ended
	May 31, 2016
Commitments And Contingencies
Commitments and Contingencies	The Company follows ASC 450-20, Los Contingencies,

5. Shareholder Equity

5. Shareholder Equity	6 Months Ended
	May 31, 2016
Shareholder Equity
Shareholder Equity	Preferred Stock The authorized preferred stock of the Company consists of 20,000,000 shares with a par value of $0.0001. The Company has no shares of preferred stock issued and outstanding as of May 31, 2016 and November 30, 2015. Common Stock The authorized common stock of the Company consists of 500,000,000 shares with a par value of $0.0001. There were 14,005,983 and 12,200,000 shares of common stock issued and outstanding as of May 31, 2016 and November 30, 2015, respectively. The Company does not have any potentially dilutive instruments as of May 31, 2016 and, thus, anti-dilution issues are not applicable. In March and April of 2016, a total of 1,803,983 shares of common stock at par value of $.0001 were sold to 37 purchasers for cash of $55,030. Pertinent Rights and Privileges Holders of shares of Common Stock are entitled to one vote for each share held to be used at all stockholders’ meetings and for all purposes including the election of directors. Common Stock does not have cumulative voting rights. Nor does it have preemptive or preferential rights to acquire or subscribe for any unissued shares of any class of stock. Holders of shares of Preferred Stock are entitled to voting rights where every one share of Preferred Stock has voting rights equal to one hundred shares of Common Stock. Additional Paid In Capital During the six months ended May 31, 2016, our CEO contributed and paid expenses on behalf of the company for a combined $4,279 which is recorded as additional paid in capital. Two shareholders also paid operating expenses totaling $850 which are recorded as additional paid in capital.

6. Related-Party Transactions

6. Related-Party Transactions	6 Months Ended
	May 31, 2016
Related Party Transactions [Abstract]
Related-Party Transactions	Contributed Capital As of May 31, 2016, our CEO has provided the Company contributed capital totaling $4,279 and two shareholders have provided the Company contributed capital totaling $850. Equity On November 18, 2015 the Company issued 6,000,000 shares of restricted common stock to Levi Jacobson and 6,000,000 shares of restricted common stock to Maryna Bleier. The shares were issued in exchange for developing the Company’s business plan. The fair value of the shares issued as compensation was $0.0001 per share. The Company recorded $1,200 in stock based compensation for management services. In March and April of 2016, a total of 1,803,983 shares of common stock at par value of $.0001 were sold to 37 purchasers for cash of $55,030.

7. Subsequent Events

7. Subsequent Events	6 Months Ended
	May 31, 2016
Subsequent Events [Abstract]
Subsequent Events	Our Secretary contributed rental space to the Company at $5,000/month from July 1, 2016, which is recorded as additional paid in capital. In December 2016, the CEO and Secretary of the Company were compensated $20,000 and $15,000 respectively in cash for payment of future services.

2. Summary of Significant Acc13

2. Summary of Significant Accounting Policies (Policies)	6 Months Ended
	May 31, 2016
Summary Of Significant Accounting Policies Policies
Basis of Presentation	This summary of significant accounting policies is presented to assist in understanding the Company's unaudited interim financial statements. These accounting policies conform to accounting principles, generally accepted in the United States of America, and have been consistently applied in the preparation of the unaudited interim financial statements. While the information presented in the accompanying interim financial statements for the three and six months ended May 31, 2016 is unaudited, it includes all adjustments which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the interim period presented in accordance with the accounting principles generally accepted in the United States of America. In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature. The accompanying unaudited interim financial statements should be read in conjunction with the Company’s audited financial statements (and notes thereto) for the period from November 13 (date of inception) to November 30, 2015 included elsewhere in the Company’s Form 1-A filed with the SEC on January 29, 2016. Operating results for the three and six months ended May 31, 2016 are not necessarily indicative of the results that can be expected for the year ending November 30, 2016.
Inventories	Inventories, consisting of products available for sale, are primarily accounted for using the first-in, first-out ("FIFO") method, and are valued at the lower of cost or market value. This valuation requires Hemp Naturals, Inc. to make judgments, based on currently-available information, about the likely method of disposition, such as through sales to individual customers, returns to product vendors, or liquidations, and expected recoverable values of each disposition category.
Use of Estimates	The preparation of unaudited interim financial statements in conformity with generally accepted accounting principles 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 period. In the opinion of management, all adjustments necessary in order to make the financial statements not misleading have been included. Actual results could differ from those estimates.
Cash and Cash Equivalents	The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Cash and cash equivalents at May 31, 2016 and November 30, 2015 were $46,117 and $100, respectively.
Related Parties	The Company follows ASC 850, Related Party Disclosures,

1. Organization and Descripti14

1. Organization and Description of Business (Details Narrative)	6 Months Ended
	May 31, 2016
Organization And Description Of Business Details Narrative
State of Incorporation	Delaware
Date of Incorporation	Nov. 13, 2015

2. Summary of Significant Acc15

2. Summary of Significant Accounting Policies (Details Narrative) - USD ($)	6 Months Ended
	May 31, 2016	Nov. 30, 2015
Summary Of Significant Accounting Policies Details Narrative
Cash and Cash Equivalents	$ 46,117	$ 100
Potentially Dilutive Shares	0

4. Commitments and Contingenc16

4. Commitments and Contingencies (Details Narrative)	May 31, 2016USD ($)
Commitments And Contingencies
Commitments or Contingencies	$ 0

5. Shareholder Equity (Details

5. Shareholder Equity (Details Narrative) - $ / shares	6 Months Ended
	May 31, 2016	Nov. 30, 2015
Shareholder Equity Details Narrative
Preferred stock shares par value	$ .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 shares par value	$ 0.0001	$ 0.0001
Common stock shares authorized	500,000,000	500,000,000
Common stock shares issued	14,005,983	12,200,000
Common stock shares outstanding	14,005,983	12,200,000
Potentially Dilutive Shares	0