Document and Entity Information
Document and Entity Information - $ / shares | Apr. 23, 2019 | Feb. 28, 2019 |
Details | ||
Registrant Name | 3AM TECHNOLOGIES INC | |
Registrant CIK | 0001667615 | |
SEC Form | 10-Q | |
Period End date | Feb. 28, 2019 | |
Fiscal Year End | --05-31 | |
Trading Symbol | none | |
Tax Identification Number (TIN) | 352553515 | |
Number of common stock shares outstanding | 7,500,000 | |
Filer Category | Non-accelerated Filer | |
Current with reporting | Yes | |
Small Business | true | |
Emerging Growth Company | true | |
Ex Transition Period | false | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q3 | |
Entity File Number | 333-210544 | |
Entity Incorporation, State Country Name | Nevada | |
Entity Address, Address Line One | 2360 Corporate Circle | |
Entity Address, Address Line Two | Suite 400 | |
Entity Address, City or Town | Henderson | |
Entity Address, State or Province | NV | |
Entity Address, Postal Zip Code | 89074-7722 | |
Entity Address, Address Description | Address of principal executive offices | |
City Area Code | 702 | |
Local Phone Number | 866-2500 | |
Phone Fax Number Description | Registrant’s telephone number, including area code | |
Entity Listing, Par Value Per Share | $ 0.001 |
Balance Sheets (Unaudited)
Balance Sheets (Unaudited) - USD ($) | Feb. 28, 2019 | May 31, 2018 |
Current Assets | ||
Cash | $ 22,867 | $ 828 |
Prepaid Expenses | 1,871 | 1,871 |
Total Current Assets | 24,738 | 2,699 |
Current Liabilities | ||
Accounts Payable and Accrued Liabilities | 19,500 | 18,075 |
Due to related parties | 17,512 | 10,012 |
Total Current Liabilities | 37,012 | 28,087 |
Stockholders' Deficit | ||
Preferred Stock, Value | 0 | 0 |
Common Stock, Value | 7,500 | 4,500 |
Additional paid-in capital | 67,500 | 40,500 |
Accumulated Deficit | (87,274) | (70,388) |
Total Stockholders' Deficit | (12,274) | (25,388) |
Total Liabilities and Stockholders' Deficit | $ 24,738 | $ 2,699 |
Balance Sheets (Unaudited) - Pa
Balance Sheets (Unaudited) - Parenthetical - $ / shares | Feb. 28, 2019 | May 31, 2018 |
Details | ||
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 |
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Common Stock, Shares Authorized | 20,000,000 | 20,000,000 |
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares, Issued | 7,500,000 | 4,500,000 |
Common Stock, Shares, Outstanding | 7,500,000 | 4,500,000 |
Statements of Income_Expenses (
Statements of Income/Expenses (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Feb. 28, 2019 | Feb. 28, 2018 | Feb. 28, 2019 | Feb. 28, 2018 | |
Expenses | ||||
General and administrative | $ 2,826 | $ 4,086 | $ 16,886 | $ 26,545 |
Total Operating Expenses | 2,826 | 4,086 | 16,886 | 26,545 |
Net Loss | $ (2,826) | $ (4,086) | $ (16,886) | $ (26,545) |
Net Loss Per Share - Basic and Diluted | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted Average Shares Outstanding | 6,351,111 | 4,500,000 | 5,167,766 | 4,500,000 |
Statements of Changes in Stockh
Statements of Changes in Stockholders' Deficit - USD ($) | Common Stock | Additional Paid-in Capital | Retained Earnings | Total |
Equity Balance, Starting at May. 31, 2017 | $ 4,500 | $ 40,500 | $ (43,611) | $ 1,389 |
Shares Outstanding, Starting at May. 31, 2017 | 4,500,000 | |||
Net Income (Loss) | $ 0 | 0 | (12,730) | (12,730) |
Shares Outstanding, Ending at Aug. 31, 2017 | 4,500,000 | |||
Equity Balance, Ending at Aug. 31, 2017 | $ 4,500 | 40,500 | (56,341) | (11,341) |
Net Income (Loss) | $ 0 | 0 | (9,729) | (9,729) |
Shares Outstanding, Ending at Nov. 30, 2017 | 4,500,000 | |||
Equity Balance, Ending at Nov. 30, 2017 | $ 4,500 | 40,500 | (66,070) | (21,070) |
Net Income (Loss) | $ 0 | 0 | (4,086) | (4,086) |
Shares Outstanding, Ending at Feb. 28, 2018 | 4,500,000 | |||
Equity Balance, Ending at Feb. 28, 2018 | $ 4,500 | 40,500 | (70,156) | (25,156) |
Equity Balance, Starting at May. 31, 2018 | $ 4,500 | 40,500 | (70,388) | (25,388) |
Shares Outstanding, Starting at May. 31, 2018 | 4,500,000 | |||
Net Income (Loss) | $ 0 | 0 | (6,528) | (6,528) |
Shares Outstanding, Ending at Aug. 31, 2018 | 4,500,000 | |||
Equity Balance, Ending at Aug. 31, 2018 | $ 4,500 | 40,500 | (76,916) | (31,916) |
Stock Issued During Period, Value, New Issues | $ 800 | 7,200 | 0 | 8,000 |
Stock Issued During Period, Shares, New Issues | 800,000 | |||
Net Income (Loss) | $ 0 | 0 | (7,532) | (7,532) |
Shares Outstanding, Ending at Nov. 30, 2018 | 5,300,000 | |||
Equity Balance, Ending at Nov. 30, 2018 | $ 5,300 | 47,700 | (84,448) | (31,448) |
Stock Issued During Period, Value, New Issues | $ 2,200 | 19,800 | 0 | 22,000 |
Stock Issued During Period, Shares, New Issues | 2,200,000 | |||
Net Income (Loss) | $ 0 | 0 | (2,826) | (2,826) |
Shares Outstanding, Ending at Feb. 28, 2019 | 7,500,000 | |||
Equity Balance, Ending at Feb. 28, 2019 | $ 7,500 | $ 67,500 | $ (87,274) | $ (12,274) |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Feb. 28, 2019 | Feb. 28, 2018 | |
Operating Activities | ||
Net loss for the period | $ (16,886) | $ (26,545) |
Changes in operating assets and liabilities: | ||
Accounts payable and accrued expenses | 1,425 | (1,859) |
Prepaid Expenses | 0 | 4,137 |
Net cash used in operating activities | (15,461) | (24,267) |
Financing Activities | ||
Proceeds from issuance of common stock | 30,000 | 0 |
Due to related parties | 7,500 | 10,000 |
Net cash provided by financing activities | 37,500 | 10,000 |
Net Change in Cash | 22,039 | (14,267) |
Cash and Cash Equivalents, at Carrying Value, Beginning Balance | 828 | 15,123 |
Cash and Cash Equivalents, at Carrying Value, Ending Balance | 22,867 | 856 |
Supplemental Disclosures | ||
Interest paid | 0 | 0 |
Income taxes paid | $ 0 | $ 0 |
1. Nature of Operations and Con
1. Nature of Operations and Continuance of Business | 9 Months Ended |
Feb. 28, 2019 | |
Notes | |
1. Nature of Operations and Continuance of Business | 1. Nature of Operations and Continuance of Business 3am Technologies, Inc. (the Company) was incorporated in the state of Nevada on March 13, 2014 . The Company has been in the exploration stage since its formation and has not commenced business operations. These financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business. During the period ended February 28, 2019, the Company has an accumulated deficit of $87,274. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary equity financing to continue operations, and the attainment of profitable operations. These factors raise substantial doubt regarding the Companys ability to continue as a going concern. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. |
2. Summary of Significant Accou
2. Summary of Significant Accounting Policies | 9 Months Ended |
Feb. 28, 2019 | |
Notes | |
2. Summary of Significant Accounting Policies | 2. Summary of Significant Accounting Policies a) Basis of Presentation The accompanying unaudited interim financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in the Companys most recent Annual Financial Statements filed with the SEC on Form S-1. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim period presented have been reflected herein. The results of operations for the interim period are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which would substantially duplicate the disclosures contained in the audited financial statements, as reported in the Form S-1, have been omitted. The Company has chosen May 31 as its year end. |
3. Related Party Transactions
3. Related Party Transactions | 9 Months Ended |
Feb. 28, 2019 | |
Notes | |
3. Related Party Transactions | 3. Related Party Transactions a) On July 19, 2018 , the President of the Company loaned $7,500 to the Company, the loan is no n-interest bearing with no specific terms of repayment . As of February 28, 2019 and May 31, 2018, the Company was indebted to the President of the Company in the amount of $17,512 and $10,012 respectively. The loans are non-interesting bearing, unsecured and due on demand. b) The Companys office space is provided by management at no cost. |
4. Common Stock
4. Common Stock | 9 Months Ended |
Feb. 28, 2019 | |
Notes | |
4. Common Stock | 4. Common Stock a) On November 6, 2018 , the Company issued 300,000 common shares at $0.01 per share for proceeds of $3,000 . b) On November 13, 2018 , the Company issued 500,000 common shares at $0.01 per share for proceeds of $5,000 . c) On January 16, 2019 , the Company issued 2,200,000 common shares at $0.01 per share for proceeds of $22,000 . |
2. Summary of Significant Acc_2
2. Summary of Significant Accounting Policies: a) Basis of Presentation (Policies) | 9 Months Ended |
Feb. 28, 2019 | |
Policies | |
a) Basis of Presentation | a) Basis of Presentation The accompanying unaudited interim financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in the Companys most recent Annual Financial Statements filed with the SEC on Form S-1. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim period presented have been reflected herein. The results of operations for the interim period are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which would substantially duplicate the disclosures contained in the audited financial statements, as reported in the Form S-1, have been omitted. The Company has chosen May 31 as its year end. |
1. Nature of Operations and C_2
1. Nature of Operations and Continuance of Business (Details) | 9 Months Ended |
Feb. 28, 2019 | |
Details | |
Entity Incorporation, State Country Name | Nevada |
Entity Incorporation, Date of Incorporation | Mar. 13, 2014 |
3. Related Party Transactions (
3. Related Party Transactions (Details) - USD ($) | 9 Months Ended | |
Feb. 28, 2019 | May 31, 2018 | |
Details | ||
Debt Instrument, Maturity Date | Jul. 19, 2018 | |
Debt Instrument, Issuer | President of the Company | |
Debt Instrument, Face Amount | $ 7,500 | |
Debt Instrument, Description | loan | |
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | |
Debt Instrument, Payment Terms | no specific terms of repayment | |
Long-term Debt | $ 17,512 | $ 10,012 |
Payments for Rent | $ 0 |
4. Common Stock (Details)
4. Common Stock (Details) | 9 Months Ended |
Feb. 28, 2019USD ($)$ / sharesshares | |
Stock Issuance, Transaction 1 | |
Sale of Stock, Transaction Date | Nov. 6, 2018 |
Sale of Stock, Description of Transaction | Company issued 300,000 common shares |
Shares, Issued | shares | 300,000 |
Sale of Stock, Price Per Share | $ / shares | $ 0.01 |
Stock Issued | $ | $ 3,000 |
Stock Issuance, Transaction 2 | |
Sale of Stock, Transaction Date | Nov. 13, 2018 |
Sale of Stock, Description of Transaction | Company issued 500,000 common shares |
Shares, Issued | shares | 500,000 |
Sale of Stock, Price Per Share | $ / shares | $ 0.01 |
Stock Issued | $ | $ 5,000 |
Stock Issuance, Transaction 3 | |
Sale of Stock, Transaction Date | Jan. 16, 2019 |
Sale of Stock, Description of Transaction | Company issued 2,200,000 common shares |
Shares, Issued | shares | 2,200,000 |
Sale of Stock, Price Per Share | $ / shares | $ 0.01 |
Stock Issued | $ | $ 22,000 |