Hemp Naturals (HPMM) 10-Q 2 Oct 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Aug. 31, 2017	Oct. 02, 2017
Document and Entity Information
Entity Registrant Name	Hemp Naturals, Inc.
Document Type	10-Q
Document Period End Date	Aug. 31, 2017
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	2,017
Document Fiscal Period Focus	Q3

Balance Sheets

Balance Sheets - USD ($)	Aug. 31, 2017	Nov. 30, 2016
CURRENT ASSETS:
Cash	$ 12	$ 46,017
Deposits	1,530	1,530
Inventory	0	999
Total Current Assets	1,542	48,546
TOTAL ASSETS	1,542	48,546
CURRENT LIABILITIES:
Accrued expenses	765	2,765
Total Current Liabilities	765	2,765
TOTAL LIABILITIES	765	2,765
STOCKHOLDERS' DEFICIT:
Preferred stock, $.0001 par value, 20,000,000 shares authorized; none issued and outstanding as of August 31, 2017 and November 30, 2016	0	0
Common stock , $.0001 par value, 500,000,000 shares authorized, 14,005,983 shares issued and outstanding as of August 31, 2017 and November 30, 2016, respectively	1,401	1,401
Additional Paid in Capital	154,789	95,078
Accumulated Deficit	(155,413)	(50,698)
Total Stockholders' Equity	777	45,781
TOTAL LIABILITIES & STOCKHOLDERS’ EQUITY	$ 1,542	$ 48,546

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Aug. 31, 2017	Nov. 30, 2016
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	14,005,983
Common stock shares outstanding	14,005,983	14,005,983

Statements of Operations

Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Aug. 31, 2017	Aug. 31, 2016	Aug. 31, 2017	Aug. 31, 2016
Total Operating Expenses
Selling, General & Administrative Expenses	$ 19,754	$ 10,051	$ 104,715	$ 18,565
Total Operating Expenses	19,754	10,051	104,715	18,565
Net Loss	$ (19,754)	$ (10,051)	$ (104,715)	$ (18,565)
Net loss per common share- Basic and diluted	$ 0	$ 0	$ (0.01)	$ 0
Weighted average number of common shares outstanding- Basic and diluted	14,005,983	14,005,983	14,005,983	13,000,864

Statements of Cash Flows

Statements of Cash Flows - USD ($)	9 Months Ended
	Aug. 31, 2017	Aug. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (104,715)	$ (18,565)
Adjustment to reconcile net loss to net cash used in operating activities:
Expenses contributed to capital	59,711	13,449
Changes in current assets and liabilities:
Deposit	0	(1,530)
Inventory	999	(999)
Accrued expenses	(2,000)	(3,099)
Net cash used in operating activities	(46,005)	(10,744)
CASH FLOWS FROM FINANCING ACTIVITES
Proceeds from the sale of common stock	0	55,030
Contributions from related party	0	1,680
Net cash provided by financing activities	0	56,710
Net increase (decrease) in cash and cash equivalents	(46,005)	45,966
Cash and cash equivalents at beginning of year	46,017	100
Cash and cash equivalents at end of year	12	46,066
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	9 Months Ended
	Aug. 31, 2017
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	9 Months Ended
	Aug. 31, 2017
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 nine months ended August 31, 2017 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 fiscal year ended November 30, 2016 included elsewhere in the Company’s Form 10K filed with the SEC on February 21, 2017. Operating results for the three and nine months ended August 31, 2017 are not necessarily indicative of the results that can be expected for the year ending November 30, 2017. 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. 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 August 31, 2017. 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, Reclassifications Certain prior year amounts have been reclassified to conform with the current year presentation.

3. Going Concern

3. Going Concern	9 Months Ended
	Aug. 31, 2017
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	9 Months Ended
	Aug. 31, 2017
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.

5. Shareholder Equity

5. Shareholder Equity	9 Months Ended
	Aug. 31, 2017
Shareholder Equity
Shareholder Equity	Additional Paid In Capital During the nine months ended August 31, 2017, our CEO paid a combined $14,711 in operating expenses which is recorded as additional paid in capital. Our secretary provided rental space to the company totaling $45,000, which is recorded as additional paid in capital.

6. Related-Party Transactions

6. Related-Party Transactions	9 Months Ended
	Aug. 31, 2017
Related Party Transactions [Abstract]
Related-Party Transactions	Contributed Capital During the nine months ending August 31, 2017, our CEO paid a combined $14,711 in operating expenses which is recorded as additional paid in capital. Our secretary had provided rental space to the Company totaling $45,000 which is recorded as additional paid in capital. Compensation At nine months ended August 31, 2017, the CEO and Secretary of the Company were compensated $20,000 and $16,020 respectively in cash for payment of services rendered. The compensation is considered fully earned on the date of the payment. 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.

2. Summary of Significant Acc12

2. Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Aug. 31, 2017
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 nine months ended August 31, 2017 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 fiscal year ended November 30, 2016 included elsewhere in the Company’s Form 10K filed with the SEC on February 21, 2017. Operating results for the three and nine months ended August 31, 2017 are not necessarily indicative of the results that can be expected for the year ending November 30, 2017.
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.
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 August 31, 2017. 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,
Reclassifications	Certain prior year amounts have been reclassified to conform with the current year presentation.

1. Organization and Descripti13

1. Organization and Description of Business (Details Narrative)	9 Months Ended
	Aug. 31, 2017
Organization And Description Of Business Details Narrative
State of Incorporation	Delaware
Date of Incorporation	Nov. 13, 2015

5. Shareholder Equity (Details

5. Shareholder Equity (Details Narrative)	Aug. 31, 2017USD ($)
Chief Executive Officer [Member]
Payments by Related Parties	$ 14,711
Secretary [Member]
Payments by Related Parties	$ 45,000

6. Related-Party Transactions (

6. Related-Party Transactions (Details Narrative)	9 Months Ended
	Aug. 31, 2017USD ($)
Chief Executive Officer [Member]
Payments by Related Parties	$ 14,711
Payment of Future Services	20,000
Secretary [Member]
Payments by Related Parties	45,000
Payment of Future Services	$ 16,020