3am 10-K/A 2 Oct 20 2020 FY Annual report (amended) Financial data

Document and Entity Information

Document and Entity Information - USD ($)	Sep. 14, 2020	May 31, 2020	Nov. 30, 2019
Details
Registrant Name		3AM TECHNOLOGIES INC
Registrant CIK		0001667615
Fiscal Year End		--05-31
Document Type		10-K/A
Document Annual Report		true
Document Period End Date		May 31, 2020
Document Transition Report		false
Entity File Number		333-210544
Entity Incorporation, State or Country Code		NV
Entity Tax Identification Number		35-2553515
Entity Address, Address Line One		129 The Queensway
Entity Address, City or Town		Barrie
Entity Address, State or Province		ON
Entity Address, Country		CA
Entity Address, Postal Zip Code		L4M 0B1
Entity Address, Address Description		Address of principal executive offices
Phone Fax Number Description		Registrant's telephone number, including area code
City Area Code		702
Local Phone Number		866-2500
Entity Well-known Seasoned Issuer		No
Entity Voluntary Filers		No
Entity Current Reporting Status		No
Entity Interactive Data Current		No
Entity Filer Category		Non-accelerated Filer
Entity Small Business		true
Entity Emerging Growth Company		true
Entity Ex Transition Period		true
Entity Shell Company		true
Entity Public Float			$ 0
Entity Common Stock, Shares Outstanding	7,500,000
Entity Listing, Par Value Per Share	$ 0.001
Amendment Flag		false
Document Fiscal Year Focus		2020
Document Fiscal Period Focus		FY

Balance Sheets

Balance Sheets - USD ($)	May 31, 2020	May 31, 2019
Current Assets
Cash	$ 1,434	$ 12,942
Prepaid expenses	0	1,871
Total Current Assets	1,434	14,813
Current Liabilities
Accounts payable and accrued liabilities	31,763	27,000
Due to related party	37,512	17,512
Total Current Liabilities	69,275	44,512
Stockholders' Deficit
Preferred Stock, Value	0	0
Common Stock, Value	7,500	7,500
Additional paid-in capital	67,500	67,500
Accumulated deficit	(142,841)	(104,699)
Total Stockholders' Deficit	(67,841)	(29,699)
Total Liabilities and Stockholders' Deficit	$ 1,434	$ 14,813

Balance Sheets - Parenthetical

Balance Sheets - Parenthetical - $ / shares	May 31, 2020	May 31, 2019
Details
Preferred Stock, Shares Authorized	100,000,000	100,000,000
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	200,000,000	200,000,000
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares, Issued	7,500,000	7,500,000
Common Stock, Shares, Outstanding	7,500,000	7,500,000

Statements of Operations

Statements of Operations - USD ($)	12 Months Ended
	May 31, 2020	May 31, 2019
Operating Expenses
General and administrative	$ 38,142	$ 34,311
Total Operating Expenses	38,142	34,311
Net Loss	$ (38,142)	$ (34,311)
Net Loss Per Common Share - Basic and Diluted	$ (0.01)	$ (0.01)
Weighted Average Common Shares Outstanding - Basic and Diluted	7,500,000	5,755,616

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, 2018	$ 4,500	$ 40,500	$ (70,388)	$ (25,388)
Shares Outstanding, Starting at May. 31, 2018	4,500,000
Stock Issued During Period, Value, New Issues	$ 3,000	27,000	0	30,000
Stock Issued During Period, Shares, New Issues	3,000,000
Net Income (Loss)	$ 0	0	(34,311)	(34,311)
Shares Outstanding, Ending at May. 31, 2019	7,500,000
Equity Balance, Ending at May. 31, 2019	$ 7,500	67,500	(104,699)	(29,699)
Net Income (Loss)	$ 0	0	(38,142)	(38,142)
Shares Outstanding, Ending at May. 31, 2020	7,500,000
Equity Balance, Ending at May. 31, 2020	$ 7,500	$ 67,500	$ (142,841)	$ (67,841)

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	May 31, 2020	May 31, 2019
Operating Activities
Net Loss	$ (38,142)	$ (34,311)
Changes in operating assets and liabilities:
Prepaid expense	1,871	0
Accounts payable and accrued expenses	14,263	8,925
Net cash used in operating activities	(22,008)	(25,386)
Financing Activities
Proceeds from issuance of common stock	0	30,000
Proceeds from related party	15,000	7,500
Repayment to related party	(4,500)	0
Net cash provided by financing activities	10,500	37,500
Net Increase (Decrease) in Cash	(11,508)	12,114
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	12,942	828
Cash and Cash Equivalents, at Carrying Value, Ending Balance	1,434	12,942
Non-cash Transactions
Operating expenses paid by related party	9,500	0
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	12 Months Ended
	May 31, 2020
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. As of May 31, 2020, the Company has an accumulated deficit of $142,841. 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 Company’s 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	12 Months Ended
	May 31, 2020
Notes
2. Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies a) These financial statements and notes are presented in accordance with accounting principles generally accepted in the United States. The Company’s fiscal year end is May 31. b) The preparation of financial statements in conformity with U.S. 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. Actual results could differ from those estimates. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. c) The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents. d) The fair values of financial instruments which include cash, prepaid expense, accounts payable and accrued liabilities were estimated to approximate their carrying values due to the immediate or relatively short maturity of these instruments. Transactions involving related parties cannot be presumed to be carried out on an arm’s-length basis, as the requisite conditions of competitive, free market dealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent to those that prevail in arm’s-length transactions unless such representations can be substantiated. It is not, however, practical to determine the fair value of amounts due to related parties due to their related party nature. The Company’s operations and financing activities are conducted primarily in United States dollars, and as a result the Company is not subject to significant exposure to market risks from changes in foreign currency rates. Management has determined that the Company is not exposed to significant credit risk. e) The Company computes net loss per share in accordance with ASC 740 " Earnings per Share f) The Company accounts for income taxes using the asset and liability approach. 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. 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. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amounts expected to be realized. g) h) There were recently issued updates most of which represented technical corrections to the accounting literature or application to specific industries and are not expected to have a material impact on our financial position, results of operations or cash flows.

3. Related Party Transactions

3. Related Party Transactions	12 Months Ended
	May 31, 2020
Notes
3. Related Party Transactions	3. Related Party Transactions a) b)

4. Common Stock

4. Common Stock	12 Months Ended
	May 31, 2020
Notes
4. Common Stock	4. Common Stock a) b) c)

5. Income Taxes

5. Income Taxes	12 Months Ended
	May 31, 2020
Notes
5. Income Taxes	5. 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 of $142,841 which start to expire in 2035. The Company has adopted ASC 740, “ Accounting for Income Taxes The 2017 Act reduces the corporate tax rate from 34% to 21% for tax years beginning after December 31, 2017. For net operating losses (NOLs) arising after December 31, 2017, the 2017 Act limits a taxpayer’s ability to utilize NOL carryforwards to 80% of taxable income. In addition, NOLs arising after 2017 can be carried forward indefinitely, but carryback is generally prohibited. NOLs generated in tax years beginning before January 1, 2018 will not be subject to the taxable income limitation. The 2017 Act would generally eliminate the carryback of all NOLs arising in a tax year ending after 2017 and instead would permit all such NOLs to be carried forward indefinitely. Significant components of the Company’s deferred tax assets as at May 31, 2020 and 2019, after applying enacted corporate income tax rates, are as follows: 2020 $ 2019 $ Deferred income tax asset Net operating loss carried forward 29,997 21,987 Valuation allowance (29,997) (21,987) Net deferred income tax asset - -

2. Summary of Significant Acc_2

2. Summary of Significant Accounting Policies: a) Basis of Presentation (Policies)	12 Months Ended
	May 31, 2020
Policies
a) Basis of Presentation	a) These financial statements and notes are presented in accordance with accounting principles generally accepted in the United States. The Company’s fiscal year end is May 31.

2. Summary of Significant Acc_3

2. Summary of Significant Accounting Policies: b) Use of Estimates (Policies)	12 Months Ended
	May 31, 2020
Policies
b) Use of Estimates	b) The preparation of financial statements in conformity with U.S. 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. Actual results could differ from those estimates. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.

2. Summary of Significant Acc_4

2. Summary of Significant Accounting Policies: c) Cash and Cash Equivalents (Policies)	12 Months Ended
	May 31, 2020
Policies
c) Cash and Cash Equivalents	c) The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents.

2. Summary of Significant Acc_5

2. Summary of Significant Accounting Policies: d) Financial Instruments (Policies)	12 Months Ended
	May 31, 2020
Policies
d) Financial Instruments	d) The fair values of financial instruments which include cash, prepaid expense, accounts payable and accrued liabilities were estimated to approximate their carrying values due to the immediate or relatively short maturity of these instruments. Transactions involving related parties cannot be presumed to be carried out on an arm’s-length basis, as the requisite conditions of competitive, free market dealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent to those that prevail in arm’s-length transactions unless such representations can be substantiated. It is not, however, practical to determine the fair value of amounts due to related parties due to their related party nature. The Company’s operations and financing activities are conducted primarily in United States dollars, and as a result the Company is not subject to significant exposure to market risks from changes in foreign currency rates. Management has determined that the Company is not exposed to significant credit risk.

2. Summary of Significant Acc_6

2. Summary of Significant Accounting Policies: e) Loss per Share (Policies)	12 Months Ended
	May 31, 2020
Policies
e) Loss per Share	e) The Company computes net loss per share in accordance with ASC 740 " Earnings per Share

2. Summary of Significant Acc_7

2. Summary of Significant Accounting Policies: f) Income Taxes (Policies)	12 Months Ended
	May 31, 2020
Policies
f) Income Taxes	f) The Company accounts for income taxes using the asset and liability approach. 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. 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. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amounts expected to be realized.

2. Summary of Significant Acc_8

2. Summary of Significant Accounting Policies: Related Party Policy (Policies)	12 Months Ended
	May 31, 2020
Policies
Related Party Policy	g)The Company follows ASC850, Related Party Disclosures, for the identification of related parties and disclosure of related party transactions.

2. Summary of Significant Acc_9

2. Summary of Significant Accounting Policies: h) Recent Accounting Pronouncements (Policies)	12 Months Ended
	May 31, 2020
Policies
h) Recent Accounting Pronouncements	h)Recent Accounting Pronouncements There were recently issued updates most of which represented technical corrections to the accounting literature or application to specific industries and are not expected to have a material impact on our financial position, results of operations or cash flows.

5. Income Taxes_ Schedule of De

5. Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Tables)	12 Months Ended
	May 31, 2020
Tables/Schedules
Schedule of Deferred Tax Assets and Liabilities	2020 $ 2019 $ Deferred income tax asset Net operating loss carried forward 29,997 21,987 Valuation allowance (29,997) (21,987) Net deferred income tax asset - -

1. Nature of Operations and C_2

1. Nature of Operations and Continuance of Business (Details)	12 Months Ended
	May 31, 2020
Details
Entity Incorporation, State or Country Code	NV
Entity Incorporation, Date of Incorporation	Mar. 13, 2014

3. Related Party Transactions (

3. Related Party Transactions (Details) - USD ($)	12 Months Ended
	May 31, 2020	May 31, 2019
Debt Instrument, Issuer	President of the Company
Long-term Debt	$ 37,512	$ 17,512
Payments for Rent	$ 0
Transaction #1
Debt Instrument, Maturity Date	Jan. 22, 2020
Debt Instrument, Face Amount	$ 15,000
Transaction #2
Debt Instrument, Maturity Date	Jul. 19, 2018
Debt Instrument, Face Amount	$ 7,500

4. Common Stock (Details)

4. Common Stock (Details)	12 Months Ended
	May 31, 2020USD ($)$ / 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

5. Income Taxes_ Schedule of _2

5. Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)	May 31, 2020	May 31, 2019
Deferred income tax asset
Net operating loss carried forward	$ 29,997	$ 21,987
Valuation allowance	(29,997)	(21,987)
Net deferred income tax asset	$ 0	$ 0