Hemp Naturals (HPMM) 10-K 21 Feb 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Nov. 30, 2016	Feb. 21, 2017	Jan. 30, 2017
Document and Entity Information
Entity Registrant Name	Hemp Naturals, Inc.
Document Type	10-K
Document Period End Date	Nov. 30, 2016
Amendment Flag	false
Entity Central Index Key	1,664,038
Current Fiscal Year End Date	--11-30
Entity Public Float			$ 60,179
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	FY

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Nov. 30, 2016	Nov. 30, 2015
CURRENT ASSETS:
Cash	$ 46,017	$ 100
Deposits	1,530	0
Inventory	999	0
Total Current Assets	48,586	100
TOTAL ASSETS	48,586	100
CURRENT LIABILITIES:
Accrued expenses	2,765	3,099
Total Current Liabilities	2,765	3,099
Total Liabilities	2,765	3,099
STOCKHOLDERS' EQUITY (DEFICIT):
Preferred stock, $.0001 par value, 20,000,000 shares authorized; none issued and outstanding as of November 30, 2016 and 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 November 30, 2016 and 2015, respectively	1,401	1,220
Additional Paid in Capital	95,078	10,100
Accumulated Deficit	(50,698)	(14,319)
Total Stockholders' Equity (Deficit)	45,781	(2,999)
TOTAL LIABILITIES & STOCKHOLDERS’ EQUITY (DEFICIT)	$ 48,586	$ 100

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - $ / shares	Nov. 30, 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

STATEMENTS OF OPERATIONS

STATEMENTS OF OPERATIONS - USD ($)	1 Months Ended	12 Months Ended
	Nov. 30, 2015	Nov. 30, 2016
Operating Expenses
Organization and Related Expenses	$ 1,319	$ 27,264
Professional Fees	13,000	9,115
Total Operating Expenses	14,319	36,379
Net Loss	$ (14,319)	$ (36,379)
Basic and Diluted Net loss Per Common Stock	$ 0	$ 0
Weighted average number of common stock outstanding – basic and diluted	12,015,385	13,476,181

STATEMENTS OF CHANGES IN STOCKH

STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (DEFICIT) - USD ($)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Beginning Balance, Shares at Nov. 12, 2015	0
Beginning Balance, Amount at Nov. 12, 2015	$ 0	$ 0	$ 0	$ 0
Issuance of shares for services, Shares	12,000,000
Issuance of shares for services, Amount	$ 1,200			1,200
Issuance of shares for services, Shares	200,000
Issuance of shares for services, Amount	$ 20			20
Contributed capital from related parties		10,100		10,100
Net loss			(14,319)	(14,319)
Ending Balance, Shares at Nov. 30, 2015	12,200,000
Ending Balance, Amount at Nov. 30, 2015	$ 1,220	10,100	(14,319)	(2,999)
Proceeds from the sale of common shares, Shares	1,805,983
Proceeds from the sale of common shares, Amount	$ 181	54,849		55,030
Cash contribution from related party		1,680		1,680
Contributed capital from related parties		28,449		28,449
Net loss			(36,379)	(36,379)
Ending Balance, Shares at Nov. 30, 2016	14,005,983
Ending Balance, Amount at Nov. 30, 2016	$ 1,401	$ 95,078	$ (50,698)	$ 45,781

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($)	1 Months Ended	12 Months Ended
	Nov. 30, 2015	Nov. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (14,319)	$ (36,379)
Adjustments to reconcile net loss to net cash used in operating activities:
Expenses contributed to capital	10,100	28,449
Stock based compensation	1,220	0
Changes in current assets and liabilities:
Deposits	0	(1,530)
Inventory	0	(999)
Accrued expenses	3,099	(334)
Net cash provided by (used in) operating activities	100	(10,793)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from sale of common stock	0	55,030
Contributed capital from shareholder	0	1,680
Net cash provided by financing activities	0	56,710
Net increase in cash and cash equivalents	100	45,917
Cash and cash equivalents at beginning of year	0	100
Cash and cash equivalents at end of year	100	46,017
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest	0	0
Cash paid for income taxes	$ 0	$ 0

1. Organization and Description

1. Organization and Description of Business	12 Months Ended
	Nov. 30, 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	12 Months Ended
	Nov. 30, 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 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 financial statements. 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 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 November 30, 2016 and November 30, 2015 were $46,017 and $100, respectively. Income Taxes The Company accounts for income taxes under ASC 740, “ Income Taxes Basic Earnings (Loss) Per Share The Company computes basic and diluted earnings (loss) per share in accordance with ASC Topic 260, Earnings per Share The Company does not have any potentially dilutive instruments as of November 30, 2016 or 2015 and, thus, anti-dilution issues are not applicable. Fair Value of Financial Instruments The Company’s balance sheet includes certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization. ASC 820, Fair Value Measurements and Disclosures ∙ Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. ∙ Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. ∙ Level 3 - Inputs that are both significant to the fair value measurement and unobservable. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of November 30, 2016. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These financial instruments include accrued expenses. Related Parties The Company follows ASC 850, Related Party Disclosures, Share-Based Compensation ASC 718, “ Compensation – Stock Compensation The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50, “ Equity – Based Payments to Non-Employees.” The Company’s stock based compensation for year ended November 30, 2016 and for the period from November 13, 2015 (Inception) through November 30, 2015 was $0 and $1,220, respectively.

3. Going Concern

3. Going Concern	12 Months Ended
	Nov. 30, 2016
Going Concern
Going Concern	The Company’s 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 financial statements. These adverse conditions are negative financial trends, specifically reoccurring operating loss, no revenues to fund operations, 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 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. Income Taxes

4. Income Taxes	12 Months Ended
	Nov. 30, 2016
Income Taxes
Income Taxes	Potential benefits of income tax losses are not recognized in the accounts until realization is more likely than not. The Company has incurred a net operating loss carryforward of $50,698 which begins expiring in 2034. The Company has adopted ASC 740, “Accounting for Income Taxes”, as of its inception. Pursuant to ASC 740 the Company is required to compute tax asset benefits for non-capital losses carried forward. The potential benefit of the net operating loss has not been recognized in these financial statements because the Company cannot be assured it is more likely than not it will utilize the loss carried forward in future years. Significant components of the Company’s deferred tax assets and liabilities as of November 30, 2016 and November 30, 2015 after applying enacted corporate income tax rates of 34%, is a net operating loss carryforward of $17,237 with a full valuation allowance of $(17,237) which is a total deferred tax asset of $0 as of November 30, 2016 and operating loss carryforward of $4,868 and a valuation allowance of $(4,868) which is a total deferred tax asset of $0 as of November 30, 2015. Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carryforwards for Federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur, net operating loss carryforwards may be limited as to use in future years.

5. Commitments and Contingencie

5. Commitments and Contingencies	12 Months Ended
	Nov. 30, 2016
Commitments And Contingencies
Commitments and Contingencies	The Company follows ASC 450-20, Los Contingencies, Office Space The Company contracted the use of 3,000 square feet of space owned by our Secretary, Maryna Bleier, who has been and will be contributing the space, valued at $5,000 per month, to the Company as additional paid-in capital July 1, 2016 until July 1, 2028. Beginning July 1, 2028, the Company is obligated to pay $5,000 monthly for the use of their office space per the terms of the rental contract.

6. Shareholder Equity

6. Shareholder Equity	12 Months Ended
	Nov. 30, 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 November 30, 2016 and 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 November 30, 2016 and 2015; respectively. On November 30, 2015, V Financial Group LLC was issued 200,000 shares of restricted common stock with a par value of $.0001 for services rendered to the Company. The fair value of the transaction is $20.00. Thomas DeNunzio is the controlling party for V Financial Group LLC. 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 1,220 in stock based compensation. In March 2016, a total of 1,803,983 shares of common stock at par value of $.0001 were sold to 37 investors for cash of $55,030. The Company does not have any potentially dilutive instruments as of November 30, 2016 and 2015 and, thus, anti-dilution issues are not applicable. 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 period ended November 30, 2015 our CEO paid a combined $10,100 in operating expenses which is recorded as additional paid in capital. During the year ended November 30, 2016, our CEO contributed cash of $1,680 to the Company to pay for expenses and paid $2,599 in operating expenses on behalf of the Company which is recorded as additional paid in capital. Two shareholders also paid operating expenses on behalf of the Company totaling $850 which are recorded as additional paid in capital. Our Secretary provided rental space to the company totaling $25,000 for the 2016 fiscal year, which is recorded as additional paid in capital.

7. Related-Party Transactions

7. Related-Party Transactions	12 Months Ended
	Nov. 30, 2016
Related Party Transactions [Abstract]
Related-Party Transactions	Contributed Capital As of November 30, 2016, our CEO has provided the Company contributed capital in the form of cash and payment of expenses on behalf of the Company totaling $4,279, our Secretary has provided the Company contributed office space valued at $25,000 and two shareholders have provided the Company contributed capital totaling $850. Office Space At this time our office space is provided to us rent free by our Secretary Maryna Bleier which is accounted for as contribution of $5,000 monthly. Our office space is located at 16950 North Bay Road, Suite 1803 Sunny Isles Beach, Florida 33160. After July 1, 2028, the Company is obligated to pay $5,000 monthly. 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 1,220 in stock based compensation.

8. Subsequent Events

8. Subsequent Events	12 Months Ended
	Nov. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	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. Our Secretary contributed rental space to the Company at $5,000/month, which is recorded as additional paid in capital.

2. Summary of Significant Acc15

2. Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Nov. 30, 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 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 financial statements.
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 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 November 30, 2016 and November 30, 2015 were $46,017 and $100, respectively.
Income Taxes	The Company accounts for income taxes under ASC 740, “ Income Taxes
Basic Earnings (Loss) Per Share	The Company computes basic and diluted earnings (loss) per share in accordance with ASC Topic 260, Earnings per Share The Company does not have any potentially dilutive instruments as of November 30, 2016 or 2015 and, thus, anti-dilution issues are not applicable.
Fair Value of Financial Instruments	The Company’s balance sheet includes certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization. ASC 820, Fair Value Measurements and Disclosures ∙ Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. ∙ Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. ∙ Level 3 - Inputs that are both significant to the fair value measurement and unobservable. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of November 30, 2016. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These financial instruments include accrued expenses.
Related Parties	The Company follows ASC 850, Related Party Disclosures,
Share-Based Compensation	ASC 718, “ Compensation – Stock Compensation The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50, “ Equity – Based Payments to Non-Employees.” The Company’s stock based compensation for year ended November 30, 2016 and for the period from November 13, 2015 (Inception) through November 30, 2015 was $0 and $1,220, respectively.

1. Organization and Descripti16

1. Organization and Description of Business (Details Narrative)	12 Months Ended
	Nov. 30, 2016
Organization And Description Of Business Details Narrative
State of Incorporation	Delaware
Date of Incorporation	Nov. 13, 2015

2. Summary of Significant Acc17

2. Summary of Significant Accounting Policies (Details Narrative) - USD ($)	1 Months Ended	12 Months Ended
	Nov. 30, 2015	Nov. 30, 2016
Summary Of Significant Accounting Policies Details Narrative
Cash and Cash Equivalents	$ 100	$ 46,017
Stock Based Compensation	$ 1,220	$ 0

4. Income Taxes (Details Narrat

4. Income Taxes (Details Narrative) - USD ($)	Nov. 30, 2016	Nov. 30, 2015
Income Taxes Details Narrative
Net operating loss carryforward	$ 17,237	$ 4,868
Valuation allowance	(17,237)	(4,868)
Deferred tax asset	$ 0	$ 0

6. Shareholder Equity (Details

6. Shareholder Equity (Details Narrative) - USD ($)	12 Months Ended
	Nov. 30, 2016	Nov. 30, 2015
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	0
Chief Executive Officer [Member]
Payments by Related Parties	$ 4,279	$ 10,100
Two Shareholders [Member]
Payments by Related Parties	850
Secretary [Member]
Payments by Related Parties	$ 25,000

7. Related-Party Transactions (

7. Related-Party Transactions (Details Narrative) - USD ($)	1 Months Ended
	Nov. 30, 2015	Nov. 30, 2016
Chief Executive Officer [Member]
Payments by Related Parties	$ 10,100	$ 4,279
Secretary [Member]
Payments by Related Parties		25,000
Two Shareholders [Member]
Payments by Related Parties		$ 850
Levi Jacobson [Member]
Issuance of Restricted Common Stock	6,000,000
Maryna Bleier [Member]
Issuance of Restricted Common Stock	6,000,000