Document and Entity Information
Document and Entity Information | 9 Months Ended |
Sep. 30, 2019shares | |
Document And Entity Information [Abstract] | |
Entity Registrant Name | Lazuriton Nano Biotechnology (U.S.A.) Inc. |
Entity Central Index Key | 0001666178 |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Non-accelerated Filer |
Entity Common Stock, Shares Outstanding | 100,000,000 |
Document Type | 10-Q |
Document Period End Date | Sep. 30, 2019 |
Amendment Flag | false |
Document Fiscal Year Focus | 2019 |
Document Fiscal Period Focus | Q3 |
Entity Small Business | true |
Entity Emerging Growth Company | true |
Entity Ex Transition Period | false |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Shell Company | true |
BALANCE SHEETS
BALANCE SHEETS - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Current Assets | ||
Cash and cash equivalents | $ 1,347 | $ 1,197 |
Prepaid expenses | 922 | |
Total current assets | 1,347 | 2,119 |
Total Assets | 1,347 | 2,119 |
Current Liabilities | ||
Accrued expenses | 17,145 | 15,086 |
Due to related parties | 233,288 | 183,794 |
Total current liabilities | 250,433 | 198,880 |
Total liabilities | 250,433 | 198,880 |
Stockholders' deficit | ||
Common stock, $0.0001 par value; 750,000,000 shares authorized, 100,000,000 shares issued and outstanding | 10,000 | 10,000 |
Additional paid-in capital | 250,000 | 250,000 |
Accumulated deficit | (509,086) | (456,761) |
Total stockholders' deficit | (249,086) | (196,761) |
Total Liabilities and Stockholders' Deficit | $ 1,347 | $ 2,119 |
BALANCE SHEETS (Parentheticals)
BALANCE SHEETS (Parentheticals) - $ / shares | Sep. 30, 2019 | Dec. 31, 2018 |
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 | 100,000,000 | 100,000,000 |
Common stock, shares outstanding | 100,000,000 | 100,000,000 |
STATEMENTS OF OPERATIONS (UNAUD
STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Income Statement [Abstract] | ||||
Net revenue | $ 0 | $ 0 | $ 0 | $ 0 |
General and administrative expenses | 17,245 | 22,904 | 52,325 | 71,138 |
Loss from operations | (17,245) | (22,904) | (52,325) | (71,138) |
Other income | ||||
Interest income | 2 | |||
Total other income | 2 | |||
Loss before income tax | (17,245) | (22,904) | (52,325) | (71,136) |
Provision for income tax | 0 | 0 | 0 | 0 |
Net loss | $ (17,245) | $ (22,904) | $ (52,325) | $ (71,136) |
Net loss per share: | ||||
Basic and diluted (in dollars per share) | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted Average Shares Outstanding: | ||||
Basic and diluted (in shares) | 100,000,000 | 100,000,000 | 100,000,000 | 100,000,000 |
STATEMENTS OF CASH FLOWS (UNAUD
STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Cash Flows from Operating Activities | ||
Net loss | $ (52,325) | $ (71,136) |
Changes in assets and liabilities: | ||
Decrease (increase) in prepaid expenses | 922 | (6,600) |
Increase in accrued expenses | 2,059 | 1,725 |
Increase in due to related parties | 49,494 | 76,013 |
Net cash provided by operating activities | 150 | 2 |
Net increase in cash and cash equivalents | 150 | 2 |
Cash and Cash Equivalents | ||
Beginning | 1,197 | 1,193 |
Ending | 1,347 | 1,195 |
Cash paid during the year for: | ||
Interest expenses | 0 | 0 |
Income taxes | $ 0 | $ 0 |
STATEMENTS OF CHANGES IN STOCKH
STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT (UNAUDITED) - USD ($) | Common Stock | Additional Paid-in Capital | Accumulated Deficit | Total |
Balance at Dec. 31, 2017 | $ 10,000 | $ 250,000 | $ (364,239) | $ (104,239) |
Balance (in shares) at Dec. 31, 2017 | 100,000,000 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net loss for the period | (29,946) | (29,946) | ||
Balance at Mar. 31, 2018 | $ 10,000 | 250,000 | (394,185) | (134,185) |
Balance (in shares) at Mar. 31, 2018 | 100,000,000 | |||
Balance at Dec. 31, 2017 | $ 10,000 | 250,000 | (364,239) | (104,239) |
Balance (in shares) at Dec. 31, 2017 | 100,000,000 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net loss for the period | (71,136) | |||
Balance at Sep. 30, 2018 | $ 10,000 | 250,000 | (435,375) | (175,375) |
Balance (in shares) at Sep. 30, 2018 | 100,000,000 | |||
Balance at Mar. 31, 2018 | $ 10,000 | 250,000 | (394,185) | (134,185) |
Balance (in shares) at Mar. 31, 2018 | 100,000,000 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net loss for the period | (18,286) | (18,286) | ||
Balance at Jun. 30, 2018 | $ 10,000 | 250,000 | (412,471) | (152,471) |
Balance (in shares) at Jun. 30, 2018 | 100,000,000 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net loss for the period | (22,904) | (22,904) | ||
Balance at Sep. 30, 2018 | $ 10,000 | 250,000 | (435,375) | (175,375) |
Balance (in shares) at Sep. 30, 2018 | 100,000,000 | |||
Balance at Dec. 31, 2018 | $ 10,000 | 250,000 | (456,761) | $ (196,761) |
Balance (in shares) at Dec. 31, 2018 | 100,000,000 | 100,000,000 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net loss for the period | (20,607) | $ (20,607) | ||
Balance at Mar. 31, 2019 | $ 10,000 | 250,000 | (477,368) | (217,368) |
Balance (in shares) at Mar. 31, 2019 | 100,000,000 | |||
Balance at Dec. 31, 2018 | $ 10,000 | 250,000 | (456,761) | $ (196,761) |
Balance (in shares) at Dec. 31, 2018 | 100,000,000 | 100,000,000 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net loss for the period | $ (52,325) | |||
Balance at Sep. 30, 2019 | $ 10,000 | 250,000 | (509,086) | $ (249,086) |
Balance (in shares) at Sep. 30, 2019 | 100,000,000 | 100,000,000 | ||
Balance at Mar. 31, 2019 | $ 10,000 | 250,000 | (477,368) | $ (217,368) |
Balance (in shares) at Mar. 31, 2019 | 100,000,000 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net loss for the period | (14,473) | (14,473) | ||
Balance at Jun. 30, 2019 | $ 10,000 | 250,000 | (491,841) | (231,841) |
Balance (in shares) at Jun. 30, 2019 | 100,000,000 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net loss for the period | (17,245) | (17,245) | ||
Balance at Sep. 30, 2019 | $ 10,000 | $ 250,000 | $ (509,086) | $ (249,086) |
Balance (in shares) at Sep. 30, 2019 | 100,000,000 | 100,000,000 |
NATURE OF OPERATIONS AND SUMMAR
NATURE OF OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES | 9 Months Ended |
Sep. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
NATURE OF OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES | NOTE 1. NATURE OF OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial reporting and in accordance with instructions for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, the unaudited financial statements contained in this report reflect all adjustments that are normal and recurring in nature and considered necessary for a fair presentation of the financial position and the results of operations for the interim periods presented. The year-end balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. The results of operations for the interim period are not necessarily indicative of the results expected for the full year. These unaudited financial statements, footnote disclosures, and other information should be read in conjunction with the financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. Organization 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. 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 $52,325 and $71,136 for the nine months ended September 30, 2019 and 2018, respectively, and had accumulated deficits of $509,086 and $456,761 as of September 30, 2019 and December 31, 2018, 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, the President and a member of the 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, however. If we are unable to obtain additional financing, we may be required to reduce the scope of our business development activities, which could harm our business plans, financial condition and operating results. Additional funding may not be available on favorable terms, if at all. 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 consolidated financial statements. 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. Fair Value Measurements As defined in ASC 820” Fair Value Measurements,” fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The Company utilizes market data or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable. The Company classifies fair value balances based on the observability of those inputs. ASC 820 establishes a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurement). The Company's financial instruments consist of cash, prepaid expense, accrued expenses, and due to related parties. The carrying amounts of these financial instruments approximate fair value due to either length of maturity or interest rates that approximate prevailing rates unless otherwise disclosed in these financial statements. Net 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. At September 30, 2019 and December 31, 2018, 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 are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recognized if it is more likely than not that some portion, or all, of a deferred tax asset will not be realized. The deferred income tax assets were $0 as of both September 30, 2019 and December 31, 2018, respectively. The Company accounts for income taxes in accordance with ASC 740, Income Taxes, which requires that the Company recognizes deferred tax liabilities and assets based on the differences between the financial statement carrying amounts and the tax basis of assets and liabilities by using enacted tax rates in effect in the years the differences. 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 The Company has considered all recent accounting pronouncements issued and their potential effects on its financial statements. The Company's management believes that these recent pronouncements will not have a material effect on the Company's condensed financial statements. |
ACCRUED EXPENSES
ACCRUED EXPENSES | 9 Months Ended |
Sep. 30, 2019 | |
Accrued Liabilities, Current [Abstract] | |
ACCRUED EXPENSES | NOTE 2. ACCRUED EXPENSES Accrued expenses consist of the following: September 30, 2019 December 31, 2018 (Unaudited) Accrued professional fees $ 13,329 $ 12,836 Accrued edgar agent service fees 3,066 — Accrued transfer agent fees 750 2,250 Total $ 17,145 $ 15,086 |
DUE TO RELATED PARTIES
DUE TO RELATED PARTIES | 9 Months Ended |
Sep. 30, 2019 | |
Related Party Transactions [Abstract] | |
DUE TO RELATED PARTIES | NOTE 3. DUE TO RELATED PARTIES The Company has received advances from its officers and shareholders for working capital purposes. As of September 30, 2019 and December 31, 2018, there were $233,288 and $183,794 advances outstanding, respectively. 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 | 9 Months Ended |
Sep. 30, 2019 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | NOTE 4. INCOME TAXES As of September 30, 2019, the Company had net operating loss carryforwards of approximately $509,086 that may be available to reduce future years’ taxable income. 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. The provision for federal income tax consists of the following for the nine months ended September 30, 2019 and 2018, respectively: For the nine months ended September 30, 2019 For the nine months ended September 30, 2018 Federal income tax benefit attributable to: Current Operations $ 10,988 $ 14,939 Less: valuation allowance (10,988 ) (14,939 ) Net provision for Federal income taxes $ — $ — The tax effects of temporary differences and carryforwards that give rise to significant portions of deferred tax assets and liabilities consist of the following as of September 30, 2019 and December 31, 2018, respectively: September 30, 2019 December 31, 2018 Deferred tax asset attributable to: (Unaudited) Net operating loss carryover $ 106,908 $ 95,920 Less: valuation allowance (106,908 ) (95,920 ) 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: For the nine months ended September 30, 2019 For the nine months ended September 30, 2018 Statutory federal tax benefit (21 )% (21 )% Change in deferred tax asset valuation allowance 21 % 21 % Provision for income taxes — % — % For the nine months ended September 30, 2019 and 2018, 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. |
SUBSEQUENT EVENT
SUBSEQUENT EVENT | 9 Months Ended |
Sep. 30, 2019 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENT | NOTE 5. SUBSEQUENT EVENT Management has evaluated subsequent events through the date which the financial statements are available to be issued. All subsequent events requiring recognition as of September 30, 2019 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.” |
NATURE OF OPERATIONS AND SUMM_2
NATURE OF OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Sep. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial reporting and in accordance with instructions for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, the unaudited financial statements contained in this report reflect all adjustments that are normal and recurring in nature and considered necessary for a fair presentation of the financial position and the results of operations for the interim periods presented. The year-end balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. The results of operations for the interim period are not necessarily indicative of the results expected for the full year. These unaudited financial statements, footnote disclosures, and other information should be read in conjunction with the financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. |
Organization | Organization 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. |
Going Concern | 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 $52,325 and $71,136 for the nine months ended September 30, 2019 and 2018, respectively, and had accumulated deficits of $509,086 and $456,761 as of September 30, 2019 and December 31, 2018, 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, the President and a member of the 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, however. If we are unable to obtain additional financing, we may be required to reduce the scope of our business development activities, which could harm our business plans, financial condition and operating results. Additional funding may not be available on favorable terms, if at all. 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 consolidated financial statements. |
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. |
Classification | 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. |
Fair Value Measurements | Fair Value Measurements As defined in ASC 820” Fair Value Measurements,” fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The Company utilizes market data or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable. The Company classifies fair value balances based on the observability of those inputs. ASC 820 establishes a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurement). The Company's financial instruments consist of cash, prepaid expense, accrued expenses, and due to related parties. The carrying amounts of these financial instruments approximate fair value due to either length of maturity or interest rates that approximate prevailing rates unless otherwise disclosed in these financial statements. |
Net Loss Per Share | Net 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. At September 30, 2019 and December 31, 2018, 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 Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recognized if it is more likely than not that some portion, or all, of a deferred tax asset will not be realized. The deferred income tax assets were $0 as of both September 30, 2019 and December 31, 2018, respectively. The Company accounts for income taxes in accordance with ASC 740, Income Taxes, which requires that the Company recognizes deferred tax liabilities and assets based on the differences between the financial statement carrying amounts and the tax basis of assets and liabilities by using enacted tax rates in effect in the years the differences. 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 The Company has considered all recent accounting pronouncements issued and their potential effects on its financial statements. The Company's management believes that these recent pronouncements will not have a material effect on the Company's condensed financial statements. |
ACCRUED EXPENSES (Tables)
ACCRUED EXPENSES (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Accrued Liabilities, Current [Abstract] | |
Schedule of accrued expenses | September 30, 2019 December 31, 2018 (Unaudited) Accrued professional fees $ 13,329 $ 12,836 Accrued edgar agent service fees 3,066 — Accrued transfer agent fees 750 2,250 Total $ 17,145 $ 15,086 |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Income Tax Disclosure [Abstract] | |
Schedule of provision for federal income tax | For the nine months ended September 30, 2019 For the nine months ended September 30, 2018 Federal income tax benefit attributable to: Current Operations $ 10,988 $ 14,939 Less: valuation allowance (10,988 ) (14,939 ) Net provision for Federal income taxes $ — $ — |
Schedule of tax effects of temporary differences and carryforwards | September 30, 2019 December 31, 2018 Deferred tax asset attributable to: (Unaudited) Net operating loss carryover $ 106,908 $ 95,920 Less: valuation allowance (106,908 ) (95,920 ) Net deferred tax asset $ — $ — |
Schedule of effective rate reflected in provision for income taxes on loss before taxes | For the nine months ended September 30, 2019 For the nine months ended September 30, 2018 Statutory federal tax benefit (21 )% (21 )% Change in deferred tax asset valuation allowance 21 % 21 % Provision for income taxes — % — % |
NATURE OF OPERATIONS AND SUMM_3
NATURE OF OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES (Detail Textuals) - USD ($) | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||
Net loss | $ (17,245) | $ (14,473) | $ (20,607) | $ (22,904) | $ (18,286) | $ (29,946) | $ (52,325) | $ (71,136) | |
Accumulated deficit | 509,086 | 509,086 | $ 456,761 | ||||||
Deferred income tax assets | $ 0 | $ 0 | $ 0 |
ACCRUED EXPENSES - Summary of A
ACCRUED EXPENSES - Summary of Accrued expenses (Details) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Accrued Liabilities, Current [Abstract] | ||
Accrued professional fees | $ 13,329 | $ 12,836 |
Accrued edgar agent service fees | 3,066 | 0 |
Accrued transfer agent fees | 750 | 2,250 |
Total | $ 17,145 | $ 15,086 |
DUE TO RELATED PARTIES (Detail
DUE TO RELATED PARTIES (Detail Textuals) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Related Party Transactions [Abstract] | ||
Due to related parties | $ 233,288 | $ 183,794 |
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 ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Federal income tax benefit attributable to: | ||||
Current Operations | $ 10,988 | $ 14,939 | ||
Less: valuation allowance | (10,988) | (14,939) | ||
Net provision for Federal income taxes | $ 0 | $ 0 | $ 0 | $ 0 |
INCOME TAXES - Summary of tax e
INCOME TAXES - Summary of tax effects of temporary differences and carryforwards (Details 1) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Deferred tax asset attributable to: | ||
Net operating loss carryover | $ 106,908 | $ 95,920 |
Less: valuation allowance | (106,908) | (95,920) |
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) | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Income Tax Disclosure [Abstract] | ||
Statutory federal tax benefit | (21.00%) | (21.00%) |
Change in deferred tax asset valuation allowance | 21.00% | 21.00% |
Provision for income taxes | 0.00% | 0.00% |
INCOME TAXES (Detail Textuals)
INCOME TAXES (Detail Textuals) | Sep. 30, 2019USD ($) |
Income Tax Disclosure [Abstract] | |
Net operating loss carry forwards | $ 509,086 |