Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Feb. 02, 2018 | Jun. 30, 2017 | |
Document And Entity Information [Abstract] | |||
Entity Registrant Name | Lazuriton Nano Biotechnology (U.S.A.) Inc. | ||
Entity Central Index Key | 1,666,178 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Common Stock, Shares Outstanding | 100,000,000 | ||
Entity Public Float | $ 0 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2017 | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY |
BALANCE SHEET
BALANCE SHEET - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Current Assets | ||
Cash and cash equivalents | $ 1,193 | $ 100,928 |
Total Current Assets | 1,193 | 100,928 |
Total Assets | 1,193 | 100,928 |
Current Liabilities | ||
Accrued expenses | 11,231 | 5,680 |
Due to related parties | 94,201 | 223,631 |
Total Current Liabilities | 105,432 | 229,311 |
Total Liabilities | 105,432 | 229,311 |
Stockholders' Deficit | ||
Common stock, $0.0001 par value; 750,000,000 shares authorized,100,000,000 and 60,000,000 shares issued and outstanding as of December 31, 2017 and 2016, respectively | 10,000 | 6,000 |
Additional paid-in capital | 250,000 | 54,000 |
Accumulated deficits | (364,239) | (188,383) |
Total stockholders' deficit | (104,239) | (128,383) |
Total Liabilities and Stockholders' Deficit | $ 1,193 | $ 100,928 |
BALANCE SHEET (Parentheticals)
BALANCE SHEET (Parentheticals) - $ / shares | Dec. 31, 2017 | Dec. 31, 2016 |
Statement of Financial Position [Abstract] | ||
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 750,000,000 | 750,000,000 |
Common stock, shares issued shares | 100,000,000 | 60,000,000 |
Common stock, shares outstanding | 100,000,000 | 60,000,000 |
STATEMENT OF OPERATIONS
STATEMENT OF OPERATIONS - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Income Statement [Abstract] | ||
Net revenue | $ 0 | $ 0 |
General and administrative expenses | 175,864 | 58,382 |
Loss from operations | (175,864) | (58,382) |
Other income | ||
Interest income | 8 | 15 |
Total other income | 8 | 15 |
Loss before income taxes | (175,856) | (58,367) |
Provision for income taxes | 0 | 0 |
Net loss | $ (175,856) | $ (58,367) |
Net loss per share | ||
Basic and diluted (in dollars per share) | $ 0 | $ 0 |
Weighted Average Shares Outstanding: | ||
Basic and diluted (in shares) | 93,534,247 | 60,000,000 |
STATEMENT OF CASH FLOWS
STATEMENT OF CASH FLOWS - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Cash Flows from Operating Activities | ||
Net loss | $ (175,856) | $ (58,367) |
Changes in assets and liabilities: | ||
Increase in accrued expenses | 5,551 | 5,680 |
Increase(Decrease) in due to related parties | (129,430) | 143,424 |
Net cash provided by (used in) operating activities | (299,735) | 90,737 |
Cash Flows from Financing Activities | ||
Issuance of common stock | 200,000 | |
Net cash provided by financing activities | 200,000 | |
Net (Decrease) Increase in cash and cash equivalents | (99,735) | 90,737 |
Cash and Cash Equivalents | ||
Beginning | 100,928 | 10,191 |
Ending | 1,193 | 100,928 |
Cash paid during the year for: | ||
Interest | 0 | 0 |
Income taxes | $ 0 | $ 0 |
STATEMENTS OF SHAREHOLDERS' DEF
STATEMENTS OF SHAREHOLDERS' DEFICIT - USD ($) | Common Stock | Additional Paid-in Capital | Accumulated Deficit | Total |
Balance at Dec. 31, 2015 | $ 6,000 | $ 54,000 | $ (130,016) | $ (70,016) |
Balance (in shares) at Dec. 31, 2015 | 60,000,000 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net loss for the period | (58,367) | (58,367) | ||
Balance at Dec. 31, 2016 | $ 6,000 | 54,000 | (188,383) | $ (128,383) |
Balance (in shares) at Dec. 31, 2016 | 60,000,000 | 60,000,000 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Common stock issued for cash | $ 4,000 | 196,000 | $ 200,000 | |
Common stock issued for cash (in shares) | 40,000,000 | |||
Net loss for the period | (175,856) | (175,856) | ||
Balance at Dec. 31, 2017 | $ 10,000 | $ 250,000 | $ (364,239) | $ (104,239) |
Balance (in shares) at Dec. 31, 2017 | 100,000,000 | 100,000,000 |
ORGANIZATION AND BUSINESS
ORGANIZATION AND BUSINESS | 12 Months Ended |
Dec. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
ORGANIZATION AND BUSINESS | NOTE 1. ORGANIZATION AND BUSINESS Lazuriton Nano Biotechnology (U.S.A.) Inc., a company in the developmental stage (the “Company”), was incorporated on June 2, 2015 in the State of Nevada. The Company has conducted limited business operations and had no revenues from operations since its inception. The Company‘s business plan is to market and distribute Nano fertilizers products. The Company’s year-end is December 31. |
GOING CONCERN
GOING CONCERN | 12 Months Ended |
Dec. 31, 2017 | |
Going Concern [Abstract] | |
GOING CONCERN | NOTE 2. GOING CONCERN These financial statements were prepared on the basis of accounting principles applicable to going concern, which assumes the realization of assets and discharge of liabilities in the normal course of business. As shown in the accompanying financial statements, the Company has incurred net loss of $175,856 and $58,367 for the years ended December 31, 2017 and 2016, respectively, and had accumulated deficit of $364,239 and $188,383 as of December 31, 2017 and 2016, respectively, and it had no revenue from operations. The Company faces all the risks common to companies at development stage, including capitalization and uncertainty of funding sources, high initial expenditure levels, uncertain revenue streams, and difficulties in managing growth. The Company's losses raise substantial doubt about its ability to continue as a going concern. The Company's financial statements do not reflect any adjustments that might result from the outcome of this uncertainty. The Company is currently addressing its liquidity issue by continually seeking additional funds through private placements of its securities and/or capital contributions and loans by Chih-Yuan Hsiao, its president and a member of our board of directors. The Company believes its current and future plans enable it to continue as a going concern. The Company's ability to achieve these objectives cannot be determined at this time. These financial statements do not give effect to any adjustments which would be necessary should the Company be unable to continue as a going concern and therefore be required to realize its assets and discharge its liabilities in other than the normal course of business and at amounts which may differ from those in the accompanying financial statements. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying financial statements and related notes have been prepared in conformity with accounting principles generally accepted in the United States of America. Use of Estimates The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America 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 amount of revenues and expenses during the reporting periods. Management makes these estimates using the best information available at the time the estimates are made. However, actual results could differ materially from those results. Classification Certain classifications have been made to the prior year financial statements to conform to the current year presentation. The reclassification had no impact on previously reported net loss or accumulated deficit. Cash and Cash Equivalents Cash and cash equivalents include cash and all highly liquid instruments with original maturities of three months or less. Net Income (Loss) Per Share Basic income (loss) per share is computed by dividing net income by weighted average number of shares of common stock outstanding during each period. Diluted income per share is computed by dividing net loss by the weighted average number of shares of common stock, common stock equivalents, and potentially dilutive securities outstanding during each period. As of December 31, 2017 and 2016, the Company does not have any outstanding common stock equivalents; therefore, a separate computation of diluted loss per share is not presented. Income Taxes The Company accounts for income taxes in accordance with ASC 740, Income Taxes, which requires that the Company recognize deferred tax liabilities and assets based on the differences between the financial statement carrying amounts and the tax basis of assets and liabilities, using enacted tax rates in effect in the years the differences are expected to reverse. Deferred income tax benefit (expense) results from the change in net deferred tax assets or deferred tax liabilities. A valuation allowance is recorded when, in the opinion of management, it is more likely than not that some or all of any deferred tax assets will not be realized. Recent Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, “Leases.” The core principle of the ASU is that a lessee should recognize the assets and liabilities that arise from its leases other than those that meet the definition of a short-term lease. The ASU requires extensive qualitative and quantitative disclosures, including with respect to significant judgments made by management. Subsequently, the FASB issued ASU No. 2017-13, in September 2017 and ASU No. 2018-01, in January 2018, which amends and clarifies ASU 2016-02. The ASU will be effective for the Company beginning January 1, 2019, including interim periods in the fiscal year 2019. Early adoption is permitted. The Company is in the process of determining the method of adoption and assessing the impact of this ASU on its consolidated results of operations, cash flows, financial position and disclosures. On December 22, 2017, the SEC issued Staff Accounting Bulletin (“SAB 118”), which provides guidance on accounting for tax effects of the Tax Act. SAB 118 provides a measurement period that should not extend beyond one year from the Tax Act enactment date for companies to complete the accounting under ASC 740. In accordance with SAB 118, a company must reflect the income tax effects of those aspects of the Act for which the accounting under ASC 740 is complete. To the extent that a company’s accounting for certain income tax effects of the Tax Act is incomplete but it is able to determine a reasonable estimate, it must record a provisional estimate to be included in the financial statements. If a company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply ASC 740 on the basis of the provision of the tax laws that were in effect immediately before the enactment of the Tax Act. While the Company is able to make reasonable estimates of the impact of the reduction in corporate rate and the deemed repatriation transition tax, the final impact of the Tax Act may differ from these estimates, due to, among other things, changes in our interpretations and assumptions, additional guidance that may be issued by the I.R.S., and actions we may take. The Company is continuing to gather additional information to determine the final impact. |
ACCRUED EXPENSES
ACCRUED EXPENSES | 12 Months Ended |
Dec. 31, 2017 | |
Accrued Liabilities, Current [Abstract] | |
ACCRUED EXPENSES | NOTE 4. ACCRUED EXPENSES Accrued expenses consist of the following: December 31, December 31, 2017 2016 Accrued professional fees $ 8,922 $ 3,700 Accrued transfer agent fees 1,383 0 Accrued edgar agent service fees 926 1,980 Total $ 11,231 $ 5,680 |
DUE TO RELATED PARTIES
DUE TO RELATED PARTIES | 12 Months Ended |
Dec. 31, 2017 | |
Related Party Transactions [Abstract] | |
DUE TO RELATED PARTIES | NOTE 5. DUE TO RELATED PARTIES The Company has advanced funds from its officer and shareholder for working capital purposes. As of December 31, 2017 and 2016, there were $94,201 and $223,631 advances outstanding. The Company has agreed that the outstanding balances bear 0% interest rate and are due upon demand after 30 days written notice by the officer and shareholder. |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | NOTE 6. INCOME TAXES As of December 31, 2017, the Company had net operating loss carryforwards of approximately $362,856 that may be available to reduce future years’ taxable income through 2037. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards. On December 22, 2017 1, 35% 21% January 1, 2018. 21% 2018 The provision for Federal income tax consists of the following: For the Years Ended December 31, 2017 2016 Federal income tax benefit attributable to: Current Operations $ 36,930 $ 19,845 Less: valuation allowance (36,930 ) (19,845 ) Net provision for Federal income taxes $ - $ - The tax effects of temporary differences and carry forwards that give rise to significant portions of deferred tax assets and liabilities consist of the following: December 31, 2017 December 31, 2016 Deferred tax asset attributable to: Net operating loss carryover $ 76,490 $ 64,050 Less: valuation allowance (76,490 ) (64,050 ) Net deferred tax asset $ - $ - The difference between the effective rate reflected in the provision for income taxes on loss before taxes and the amounts determined by applying the applicable statutory U.S. tax rate are analyzed below: 2017 2016 Statutory tax benefit (34 )% (34 )% Provisional remeasurement of deferred taxes 13 % - % Permanent items - % - % Change in deferred tax asset valuation allowance 21 % 34 % Provision for income taxes - % - % For the years ended December 31, 2017 and 2016, the Company had no unrecognized tax benefits and related interest and penalties expenses. Currently, the Company is not subject to examination by major tax jurisdictions. |
STOCKHOLDER'S DEFICIT
STOCKHOLDER'S DEFICIT | 12 Months Ended |
Dec. 31, 2017 | |
Stockholders' Equity Note [Abstract] | |
STOCKHOLDER'S DEFICIT | NOTE 7. STOCKHOLDERS’ DEFICIT On June 4, 2015, the Company sold and issued to the President and a member of board of directors 10,000 shares of common stock, $0.0001 par value for $10 in cash. On November 10, 2015, the Company sold and issued 59,990,000 shares of common stock, $0.0001 par value to forty-five shareholders for a total amount of $59,990 in cash. On March1, 2017, the Company sold and issued 40,000,000 shares of common stock, $0.0001 par value to twenty-six shareholders for a total amount of $200,000 in cash. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Dec. 31, 2017 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 8. SUBSEQUENT EVENTS Management has evaluated subsequent events through the date which the financial statements are available to be issued. All subsequent events requiring recognition as of December 31, 2017 have been incorporated into these financial statements and there are no subsequent events that require disclosure in accordance with FASB ASC Topic 855, “Subsequent Events.” |
SUMMARY OF SIGNIFICANT ACCOUN15
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying financial statements and related notes have been prepared in conformity with accounting principles generally accepted in the United States of America. |
Use of Estimates | Use of Estimates The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America 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 amount of revenues and expenses during the reporting periods. Management makes these estimates using the best information available at the time the estimates are made. However, actual results could differ materially from those results. |
Reclassification | Classification Certain classifications have been made to the prior year financial statements to conform to the current year presentation. The reclassification had no impact on previously reported net loss or accumulated deficit. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents include cash and all highly liquid instruments with original maturities of three months or less. |
Net Income (loss) per Share | Net Income (Loss) Per Share Basic income (loss) per share is computed by dividing net income by weighted average number of shares of common stock outstanding during each period. Diluted income per share is computed by dividing net loss by the weighted average number of shares of common stock, common stock equivalents, and potentially dilutive securities outstanding during each period. As of December 31, 2017 and 2016, the Company does not have any outstanding common stock equivalents; therefore, a separate computation of diluted loss per share is not presented. |
Income Taxes | Income Taxes The Company accounts for income taxes in accordance with ASC 740, Income Taxes, which requires that the Company recognize deferred tax liabilities and assets based on the differences between the financial statement carrying amounts and the tax basis of assets and liabilities, using enacted tax rates in effect in the years the differences are expected to reverse. Deferred income tax benefit (expense) results from the change in net deferred tax assets or deferred tax liabilities. A valuation allowance is recorded when, in the opinion of management, it is more likely than not that some or all of any deferred tax assets will not be realized. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, “Leases.” The core principle of the ASU is that a lessee should recognize the assets and liabilities that arise from its leases other than those that meet the definition of a short-term lease. The ASU requires extensive qualitative and quantitative disclosures, including with respect to significant judgments made by management. Subsequently, the FASB issued ASU No. 2017-13, in September 2017 and ASU No. 2018-01, in January 2018, which amends and clarifies ASU 2016-02. The ASU will be effective for the Company beginning January 1, 2019, including interim periods in the fiscal year 2019. Early adoption is permitted. The Company is in the process of determining the method of adoption and assessing the impact of this ASU on its consolidated results of operations, cash flows, financial position and disclosures. On December 22, 2017, the SEC issued Staff Accounting Bulletin (“SAB 118”), which provides guidance on accounting for tax effects of the Tax Act. SAB 118 provides a measurement period that should not extend beyond one year from the Tax Act enactment date for companies to complete the accounting under ASC 740. In accordance with SAB 118, a company must reflect the income tax effects of those aspects of the Act for which the accounting under ASC 740 is complete. To the extent that a company’s accounting for certain income tax effects of the Tax Act is incomplete but it is able to determine a reasonable estimate, it must record a provisional estimate to be included in the financial statements. If a company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply ASC 740 on the basis of the provision of the tax laws that were in effect immediately before the enactment of the Tax Act. While the Company is able to make reasonable estimates of the impact of the reduction in corporate rate and the deemed repatriation transition tax, the final impact of the Tax Act may differ from these estimates, due to, among other things, changes in our interpretations and assumptions, additional guidance that may be issued by the I.R.S., and actions we may take. The Company is continuing to gather additional information to determine the final impact. |
ACCRUED EXPENSES (Tables)
ACCRUED EXPENSES (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Accrued Liabilities, Current [Abstract] | |
Schedule of accrued expenses | December 31, December 31, 2017 2016 Accrued professional fees $ 8,922 $ 3,700 Accrued transfer agent fees 1,383 0 Accrued edgar agent service fees 926 1,980 Total $ 11,231 $ 5,680 |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Schedule of provision for Federal income tax | For the Years Ended December 31, 2017 2016 Federal income tax benefit attributable to: Current Operations $ 36,930 $ 19,845 Less: valuation allowance (36,930 ) (19,845 ) Net provision for Federal income taxes $ - $ - |
Schedule of tax effects of temporary differences and carryforwards | December 31, 2017 December 31, 2016 Deferred tax asset attributable to: Net operating loss carryover $ 76,490 $ 64,050 Less: valuation allowance (76,490 ) (64,050 ) Net deferred tax asset $ - $ - |
Schedule of provision for income taxes on loss before taxes | 2017 2016 Statutory tax benefit (34 )% (34 )% Provisional remeasurement of deferred taxes 13 % - % Permanent items - % - % Change in deferred tax asset valuation allowance 21 % 34 % Provision for income taxes - % - % |
GOING CONCERN (Detail Textuals)
GOING CONCERN (Detail Textuals) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Net loss | $ (175,856) | $ (58,367) |
Accumulated deficits | $ (364,239) | $ (188,383) |
ACCRUED EXPENSES - Summary of A
ACCRUED EXPENSES - Summary of Accrued expenses (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Accrued Liabilities, Current [Abstract] | ||
Accrued professional fees | $ 8,922 | $ 3,700 |
Accrued Transfer Agent Fees | 1,383 | 0 |
Accrued edgar agent service fees | 926 | 1,980 |
Total | $ 11,231 | $ 5,680 |
DUE TO RELATED PARTIES (Detail
DUE TO RELATED PARTIES (Detail Textuals) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Related Party Transactions [Abstract] | ||
Due to related parties | $ 94,201 | $ 223,631 |
Percentage of interest rates on advances outstanding | 0.00% |
INCOME TAXES - Summary of provi
INCOME TAXES - Summary of provision for Federal income tax (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Federal income tax benefit attributable to: | ||
Current Operations | $ 36,930 | $ 19,845 |
Less: valuation allowance | (36,930) | (19,845) |
Net provision for Federal income taxes | $ 0 | $ 0 |
INCOME TAXES - Summary of tax e
INCOME TAXES - Summary of tax effects of temporary differences and carryforwards (Details 1) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Deferred tax asset attributable to: | ||
Net operating loss carryover | $ 76,490 | $ 64,050 |
Less: valuation allowance | (76,490) | (64,050) |
Net deferred tax asset | $ 0 | $ 0 |
INCOME TAXES - Summary of diffe
INCOME TAXES - Summary of difference between effective rate reflected in provision for income taxes (Details 2) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | ||
Statutory tax benefit | (34.00%) | (34.00%) |
Provisional remeasurement of deferred taxes | 13.00% | 0.00% |
Permanent items | 0.00% | 0.00% |
Change in deferred tax asset valuation allowance | 21.00% | 34.00% |
Provision for income taxes | 0.00% | 0.00% |
INCOME TAXES (Detail Textuals)
INCOME TAXES (Detail Textuals) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Income Tax [Line Items] | ||
Net operating loss carry forwards | $ 362,856 | |
Federal corporate income tax rate | (34.00%) | (34.00%) |
Corporate income tax rate effective in 2018 | 21.00% | |
Discrete tax expenses (benefit) | $ 0 | |
Lower effective tax rate | 13.00% | 0.00% |
Maximum | ||
Income Tax [Line Items] | ||
Federal corporate income tax rate | 35.00% |
STOCKHOLDERS' DEFICIT (Details
STOCKHOLDERS' DEFICIT (Details Textuals) | Mar. 01, 2017USD ($)Shareholder$ / sharesshares | Nov. 10, 2015USD ($)Shareholder$ / sharesshares | Jun. 04, 2015USD ($)$ / sharesshares |
Stockholders' Equity Note [Abstract] | |||
Number of common stock shares issued | shares | 40,000,000 | 59,990,000 | 10,000 |
Par value for issued shares | $ / shares | $ 0.0001 | $ 0.0001 | $ 0.0001 |
Value of common stock shares issued | $ | $ 200,000 | $ 59,990 | $ 10 |
Number of shareholder | Shareholder | 26 | 45 |