Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Dec. 31, 2020 | Apr. 01, 2021 | |
Cover [Abstract] | ||
Entity Registrant Name | BYLOG GROUP CORP. | |
Entity Central Index Key | 0001668082 | |
Document Type | 10-Q | |
Document Period End Date | Dec. 31, 2020 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --03-31 | |
Entity's Reporting Status Current | No | |
Entity Interactive Data Current | No | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business Flag | true | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | false | |
Entity Shell Company | true | |
Entity Common Stock, Shares Outstanding | 11,405,000 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2021 |
Balance Sheets (Unaudited)
Balance Sheets (Unaudited) - USD ($) | Dec. 31, 2020 | Mar. 31, 2020 |
Current Assets | ||
Cash | ||
Prepayment | ||
Total current assets | ||
Fixed Assets, net | ||
Total Assets | ||
Current Liabilities | ||
Loan from related parties | 135,209 | 45,661 |
Accrued expenses | 88,453 | 131,427 |
Total current liabilities | 223,662 | 177,088 |
Total Liabilities | 223,662 | 177,088 |
Commitment and Contingency | ||
Stockholders' Deficit | ||
Common stock, $0.001 par value, 75,000,000 shares authorized; 11,405,000 shares issued and outstanding as of December 31, 2020 and March 31, 2020 | 11,405 | 11,405 |
Additional Paid-In-Capital | 21,645 | 21,645 |
Accumulated Deficit | (256,712) | (210,138) |
Total Stockholders' Deficit | (223,662) | (177,088) |
Total Liabilities and Stockholders' Deficit |
Balance Sheets (Unaudited) (Par
Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Dec. 31, 2020 | Mar. 31, 2020 |
Statement of Financial Position [Abstract] | ||
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 75,000,000 | 75,000,000 |
Common stock, shares issued | 11,405,000 | 11,405,000 |
Common stock, shares outstanding | 11,405,000 | 11,405,000 |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income Statement [Abstract] | ||||
Revenue | ||||
Operating expenses | ||||
General and administrative expenses | 25,353 | 16,669 | 46,574 | 89,906 |
Income (Loss) before provision for income taxes | (25,353) | (16,669) | (46,574) | (89,906) |
Provision for income taxes | ||||
Net income (loss) | $ (25,353) | $ (16,669) | $ (46,574) | $ (89,906) |
Loss per common share: | ||||
Basic and Diluted | $ 0 | $ 0 | $ 0 | $ (0.01) |
Weighted Average Number of Common Shares Outstanding: | ||||
Basic and Diluted | 11,405,000 | 11,405,000 | 11,405,000 | 11,405,000 |
Statements of Stockholders' Def
Statements of Stockholders' Deficit (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid in Capital [Member] | Accumulated Deficit [Member] | Total |
Balance at Mar. 31, 2019 | $ 11,405 | $ 21,645 | $ (96,643) | $ (63,593) |
Balance, shares at Mar. 31, 2019 | 11,405,000 | |||
Net Loss | (89,906) | (89,906) | ||
Balance at Dec. 31, 2019 | $ 11,405 | 21,645 | (186,549) | (153,499) |
Balance, shares at Dec. 31, 2019 | 11,405,000 | |||
Balance at Sep. 30, 2019 | $ 11,405 | 21,645 | (169,880) | (136,830) |
Balance, shares at Sep. 30, 2019 | 11,405,000 | |||
Net Loss | (16,669) | (16,669) | ||
Balance at Dec. 31, 2019 | $ 11,405 | 21,645 | (186,549) | (153,499) |
Balance, shares at Dec. 31, 2019 | 11,405,000 | |||
Balance at Mar. 31, 2020 | $ 11,405 | 21,645 | (210,138) | (177,088) |
Balance, shares at Mar. 31, 2020 | 11,405,000 | |||
Net Loss | (46,574) | (46,574) | ||
Balance at Dec. 31, 2020 | $ 11,405 | 21,645 | (256,712) | (223,662) |
Balance, shares at Dec. 31, 2020 | 11,405,000 | |||
Balance at Sep. 30, 2020 | $ 11,405 | 21,645 | (231,359) | (198,309) |
Balance, shares at Sep. 30, 2020 | 11,405,000 | |||
Net Loss | (25,353) | (25,353) | ||
Balance at Dec. 31, 2020 | $ 11,405 | $ 21,645 | $ (256,712) | $ (223,662) |
Balance, shares at Dec. 31, 2020 | 11,405,000 |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flows from Operating Activities | ||
Net loss | $ (46,574) | $ (89,906) |
Adjustment to reconcile net loss to net cash used in operating activities: | ||
Depreciation and Amortization | ||
Write-off of fixed assets | ||
Change in operating assets and liabilities: | ||
Prepaid expenses | 2,497 | |
Accounts payable and accrued expenses | (42,974) | 87,409 |
Net cash used in operating activities | (89,548) | |
Cash flows from Investing Activities | ||
Purchase of fixed assets | ||
Net cash used in investing activities | ||
Cash flow from Financing Activities | ||
Loans from related party | 89,548 | |
Net cash provided by financing activities | 89,548 | |
Net increase (decrease) in cash and equivalents | ||
Cash at beginning of the year | ||
Cash at end of the year | ||
Cash paid for: | ||
Interest | ||
Taxes |
Organization and Business
Organization and Business | 9 Months Ended |
Dec. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Business | NOTE 1 – ORGANIZATION AND BUSINESS BYLOG GROUP CORP. (the “Company”) is a corporation established under the corporation laws in the State of Nevada on August 21, 2015. The Company was in the business of web development and online advertising. We qualify as a “shell company” under Rule 12b-2 promulgated by the U.S. Securities and Exchange Commission (the “SEC”) under the Exchange Act because we currently have no or nominal assets (other than cash) and no or nominal operations. No revenue has been generated since March 31, 2020. The Company hired external party to build up company reputation for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company has adopted March 31 fiscal year end. |
Going Concern
Going Concern | 9 Months Ended |
Dec. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern | NOTE 2 – GOING CONCERN The Company’s financial statements as of December 31, 2020, been prepared using generally accepted accounting principles in the United States of America applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. The Company has accumulated loss from inception (August 21, 2015) to December 31, 2020 of $256,712. These factors among others raise substantial doubt about the ability of the company to continue as a going concern for a reasonable period of time. In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking third party equity and/or debt financing. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. These financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America. Interim Financial Information The unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles (GAAP) applicable to interim financial information and the requirements of Form 10-Q and Rule 8-03 of Regulation S-X of the Securities and Exchange Commission. Accordingly, they do not include all of the information and disclosure required by accounting principles generally accepted in the United States of America for complete financial statements. Interim results are not necessarily indicative of results for a full year. In the opinion of management, all adjustments considered necessary for a fair presentation of the financial position and the results of operations and cash flows for the interim periods have been included. These consolidated financial statements should be read in conjunction with the audited financial statements for the year ended March 31, 2020, as not all disclosures required by generally accepted accounting principles for annual financial statements are presented. The interim consolidated financial statements follow the same accounting policies and methods of computations as the audited financial statements for the year ended March 31, 2020. Use of Estimates Preparing 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, liabilities, revenue, and expenses. Actual results and outcomes may differ from management’s estimates and assumptions. Cash and Cash Equivalents For purposes of the statement of cash flows, the Company considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. The Company’s bank accounts are deposited in insured institutions. The funds are insured up to $250,000. At December 31, 2020 the Company’s bank deposits did not exceed the insured amounts. Advertising Costs The Company’s policy regarding advertising is to expense advertising when incurred. The Company did not incur advertising expense during the nine months ended December 31, 2020. Fixed Assets The Company records depreciation and amortization when appropriate using straight-line balance method over the estimated useful life of the assets. The estimated useful lives as follows: Software 3 years Office Furniture 5 years Expenditures for maintenance and repairs are charged to expense as incurred. Additions, major renewals and replacements that increase the property’s useful life are capitalized. Property sold or retired, together with the related accumulated depreciation is removed from the appropriated accounts and the resultant gain or loss is included in net income. We evaluate the recoverability of our long-lived assets whenever changes in circumstances or events may indicate that the carrying amounts may not be recoverable. An impairment loss is recognized in the event the carrying value of the assets exceeds the future undiscounted cash flows attributable to such assets. Stock-Based Compensation As of December 31, 2020, the Company has not issued any stock-based payments to its employees. Stock-based compensation is accounted for at fair value in accordance with ASC 718, when applicable. To date, the Company has not adopted a stock option plan and has not granted any stock options. Income Taxes The Company follows the liability method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences). The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. New Accounting Pronouncements In July 2018, the FASB issued ASU No. 2018-10, Codification Improvements to Topic 842, Leases. The amendments in ASU 2018-10 provide additional clarification and implementation guidance on certain aspects of the previously issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”) and have the same effective and transition requirements as ASU 2016-02. Upon the effective date, ASU 2018-10 will supersede the current lease guidance in ASC Topic 840, Leases. Under the new guidance, lessees will be required to recognize for all leases, lease with the exception of short-term leases, a lease liability, which is a lessee’s obligation to make payments arising from a lease, measured on a discounted basis. Concurrently, lessees will be required to recognize a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. ASU 2018-10 is effective for private companies and emerging growth public companies for interim and annual reporting periods beginning after December 15, 2019, with early adoption permitted. The guidance is required to be applied using a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative periods presented in the financial statements. During the nine months ended December 31, 2020, the Company assessed the impact this guidance had on its financial statements and concluded that at present ASU No. 2018-10 has no impact on its financial statements due to not having any commitment to stay in our property longer than a year. Start-Up Costs In accordance with ASC 720, “Start-up Costs”, the company expenses all costs incurred in connection with the start-up and organization of the company. Fair Value Measurements The company adopted the provisions of ASC Topic 820, “Fair Value Measurements and Disclosures”, which defines fair value as used in numerous accounting pronouncements, establishes a framework for measuring fair value and expands disclosure of fair value measurements. The estimated fair value of certain financial instruments, including cash and cash equivalents are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments. ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value: Level 1 — quoted prices in active markets for identical assets or liabilities Level 2 — quoted prices for similar assets and liabilities in active markets or inputs that are observable Level 3 — inputs that are unobservable (for example cash flow modeling inputs based on assumptions) The company has no assets or liabilities valued at fair value on a recurring basis. Revenue Recognition In 2014, the FASB issued guidance on revenue recognition (“ASC 606”), with final amendments issued in 2016. The underlying principle of ASC 606 is to recognize revenue to depict the transfer of goods or services to customers at the amount expected to be collected. ASC 606 creates a five-step model that requires entities to exercise judgment when considering the terms of contracts, which includes (1) identifying the contracts or agreements with a customer, (2) identifying our performance obligations in the contract or agreement, (3) determining the transaction price, (4) allocating the transaction price to the separate performance obligations, and (5) recognizing revenue as each performance obligation is satisfied. The Company only applies the five-step model to contracts when it is probable that the Company will collect the consideration it is entitled to in exchange for the services it transfers to its clients. The Company has concluded that the new guidance did not require any significant change to its revenue recognition processes. The Company’s web development and online advertising services are considered to be one performance obligation; therefore, revenue is recognized when services have been provided as each performance obligation is satisfied. For the three and nine months ended December 31, 2020, no revenue was earned. |
Stockholders Equity
Stockholders Equity | 9 Months Ended |
Dec. 31, 2020 | |
Stockholders' Deficit | |
Stockholders Equity | NOTE 4 – STOCKHOLDERS EQUITY The Company has 75,000,000 shares of common stock authorized with a par value of $0.001 per share. On March 7, 2016, the Company issued 9,000,000 shares of its common stock to the director at $0.001 per share for total proceeds of $9,000. For the year ended March 31, 2017, the Company issued 2,320,000 shares of its common stock to the director at $0.01 per share for total proceeds of $23,200. During the year ended March 31, 2018, the Company issued 175,000 shares for the proceeds of $1,750. On October 17, 2017, the Company retired 90,000 shares and returned $900 to the shareholder. On July 9, 2018, as a result of a private transaction, 9,000,000 shares of common stock (the “Shares”) of Bylog Group Corp. (the “Company”), has been transferred from Dmitrii Iaroshenko to the Purchasers, with Dehang Zhou becoming a 43% holder of the voting rights of the Company, and the Purchasers becoming the controlling shareholders. The consideration paid for the Shares, which represent 79% of the issued and outstanding share capital of the Company on a fully-diluted basis, was $424,000. The source of the cash consideration for the Shares was personal funds of the Purchasers. In connection with the transaction, Dmitrii Iaroshenko released the Company from all debts owed. There are no arrangements or understandings among members of both the former and new control persons and their associates with respect to the election of directors of the Company or other matters. |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Dec. 31, 2020 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | NOTE 5 – RELATED PARTY TRANSACTIONS In support of the Company’s efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by officers, directors, or shareholders. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances are considered temporary in nature and have not been formalized by a promissory note. Since August 21, 2015 (Inception) through to June 30, 2018, the Company’s former sole officer and director, Dmitrii Iaroshenko, loaned the Company $914 to pay for incorporation costs and operating expenses. As a result of a change of control, the loan from Dmitrii Iaroshenko and the remaining balance of accrued expenses of $151 are transferred to the new president, Dehang Zhou, of the Company. As of December 31, 2020, the amount outstanding was $135,209. The loan is non-interest bearing, due upon demand and unsecured. |
Income Taxes
Income Taxes | 9 Months Ended |
Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | NOTE 6 - INCOME TAXES As of December 31, 2020, the Company had net operating loss carry forwards of $256,712 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 reconciliation of income tax benefit (expenses) at the U.S. statutory rate at 21% and 34% for the period ended as follows: December 31, 2020 March 31, 2020 Tax benefit (expenses) at U.S. statutory rate $ 9,781 $ 23,834 Change in valuation allowance (9,781 ) (23,834 ) Tax benefit (expenses), net $ - $ - The tax effects of temporary differences that give rise to significant portions of the net deferred tax assets are as follows: December 31, 2020 March 31, 2020 Net operating loss $ 53,910 $ 44,129 Valuation allowance (53,910 ) (43,129 ) Deferred tax assets, net $ - $ - The tax effects of temporary differences that give rise to significant portions of the net deferred tax assets are as follows: December 31, 2020 Balance-Beginning $ 44,129 Increase/(Decrease) in Valuation allowance 9,781 Balance-Ending $ 53,910 On December 22, 2017, the Tax Cuts and Jobs Act of 2017 (the “2017 Tax Act”) was signed into law, making significant changes to the Internal Revenue Code. Changes include, but are not limited to, a federal corporate tax rate decrease from 35% to 21% for tax years beginning after December 31, 2017, the transition of U.S. international taxation from a worldwide tax system to a territorial system and a one-time transition tax on the mandatory deemed repatriation of foreign earnings. The Company has estimated its provision for income taxes in accordance with the 2017 Tax Act and the guidance available as of the date of March 30, 2018, but has kept the full valuation allowance. As a result, the Company has recorded no income tax expense in the fourth quarter of 2017, the period in which the 2017 Tax Act was enacted. On December 22, 2017, the Securities and Exchange Commission published Staff Accounting Bulletin No. 118 (“SAB 118”), which addressed the application of GAAP in situations where the Company does not have the necessary information (including computations) available, prepared, or analyzed in reasonable detail to complete the accounting for certain income tax effects of the 2017 Tax Act. The deferred tax expense to be recorded in connection with the remeasurement of deferred tax assets is to be a provisional amount and a reasonable estimate at December 31, 2020, based upon the best information currently available. The ultimate result may differ from these provisional amounts, possibly materially, due to, among other things, additional analysis, changes in the interpretations and assumptions that the Company has made, additional regulatory guidance that may be issued, and actions that the Company may take as a result of the 2017 Tax Act. Any subsequent adjustment to these amounts will be recorded in current tax expense in the quarter of 2020 when the analysis is complete. |
Subsequent Events
Subsequent Events | 9 Months Ended |
Dec. 31, 2020 | |
Subsequent Events [Abstract] | |
Subsequent Events | NOTE 7 – SUBSEQUENT EVENTS The Company has evaluated all transactions December 31, 2020 through the date these financial statements were available to be issued, and has determined that there are no events that would require disclosure in or adjustment to these financial statements. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America. |
Interim Financial Information | Interim Financial Information The unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles (GAAP) applicable to interim financial information and the requirements of Form 10-Q and Rule 8-03 of Regulation S-X of the Securities and Exchange Commission. Accordingly, they do not include all of the information and disclosure required by accounting principles generally accepted in the United States of America for complete financial statements. Interim results are not necessarily indicative of results for a full year. In the opinion of management, all adjustments considered necessary for a fair presentation of the financial position and the results of operations and cash flows for the interim periods have been included. These consolidated financial statements should be read in conjunction with the audited financial statements for the year ended March 31, 2020, as not all disclosures required by generally accepted accounting principles for annual financial statements are presented. The interim consolidated financial statements follow the same accounting policies and methods of computations as the audited financial statements for the year ended March 31, 2020. |
Use of Estimates | Use of Estimates Preparing 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, liabilities, revenue, and expenses. Actual results and outcomes may differ from management’s estimates and assumptions. |
Cash and Cash Equivalents | Cash and Cash Equivalents For purposes of the statement of cash flows, the Company considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. The Company’s bank accounts are deposited in insured institutions. The funds are insured up to $250,000. At December 31, 2020 the Company’s bank deposits did not exceed the insured amounts. |
Advertising Costs | Advertising Costs The Company’s policy regarding advertising is to expense advertising when incurred. The Company did not incur advertising expense during the nine months ended December 31, 2020. |
Fixed Assets | Fixed Assets The Company records depreciation and amortization when appropriate using straight-line balance method over the estimated useful life of the assets. The estimated useful lives as follows: Software 3 years Office Furniture 5 years Expenditures for maintenance and repairs are charged to expense as incurred. Additions, major renewals and replacements that increase the property’s useful life are capitalized. Property sold or retired, together with the related accumulated depreciation is removed from the appropriated accounts and the resultant gain or loss is included in net income. We evaluate the recoverability of our long-lived assets whenever changes in circumstances or events may indicate that the carrying amounts may not be recoverable. An impairment loss is recognized in the event the carrying value of the assets exceeds the future undiscounted cash flows attributable to such assets. |
Stock-Based Compensation | Stock-Based Compensation As of December 31, 2020, the Company has not issued any stock-based payments to its employees. Stock-based compensation is accounted for at fair value in accordance with ASC 718, when applicable. To date, the Company has not adopted a stock option plan and has not granted any stock options. |
Income Taxes | Income Taxes The Company follows the liability method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences). The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. |
New Accounting Pronouncements | New Accounting Pronouncements In July 2018, the FASB issued ASU No. 2018-10, Codification Improvements to Topic 842, Leases. The amendments in ASU 2018-10 provide additional clarification and implementation guidance on certain aspects of the previously issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”) and have the same effective and transition requirements as ASU 2016-02. Upon the effective date, ASU 2018-10 will supersede the current lease guidance in ASC Topic 840, Leases. Under the new guidance, lessees will be required to recognize for all leases, lease with the exception of short-term leases, a lease liability, which is a lessee’s obligation to make payments arising from a lease, measured on a discounted basis. Concurrently, lessees will be required to recognize a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. ASU 2018-10 is effective for private companies and emerging growth public companies for interim and annual reporting periods beginning after December 15, 2019, with early adoption permitted. The guidance is required to be applied using a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative periods presented in the financial statements. During the nine months ended December 31, 2020, the Company assessed the impact this guidance had on its financial statements and concluded that at present ASU No. 2018-10 has no impact on its financial statements due to not having any commitment to stay in our property longer than a year. |
Start-Up Costs | Start-Up Costs In accordance with ASC 720, “Start-up Costs”, the company expenses all costs incurred in connection with the start-up and organization of the company. |
Fair Value Measurements | Fair Value Measurements The company adopted the provisions of ASC Topic 820, “Fair Value Measurements and Disclosures”, which defines fair value as used in numerous accounting pronouncements, establishes a framework for measuring fair value and expands disclosure of fair value measurements. The estimated fair value of certain financial instruments, including cash and cash equivalents are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments. ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value: Level 1 — quoted prices in active markets for identical assets or liabilities Level 2 — quoted prices for similar assets and liabilities in active markets or inputs that are observable Level 3 — inputs that are unobservable (for example cash flow modeling inputs based on assumptions) The company has no assets or liabilities valued at fair value on a recurring basis. |
Revenue Recognition | Revenue Recognition In 2014, the FASB issued guidance on revenue recognition (“ASC 606”), with final amendments issued in 2016. The underlying principle of ASC 606 is to recognize revenue to depict the transfer of goods or services to customers at the amount expected to be collected. ASC 606 creates a five-step model that requires entities to exercise judgment when considering the terms of contracts, which includes (1) identifying the contracts or agreements with a customer, (2) identifying our performance obligations in the contract or agreement, (3) determining the transaction price, (4) allocating the transaction price to the separate performance obligations, and (5) recognizing revenue as each performance obligation is satisfied. The Company only applies the five-step model to contracts when it is probable that the Company will collect the consideration it is entitled to in exchange for the services it transfers to its clients. The Company has concluded that the new guidance did not require any significant change to its revenue recognition processes. The Company’s web development and online advertising services are considered to be one performance obligation; therefore, revenue is recognized when services have been provided as each performance obligation is satisfied. For the three and nine months ended December 31, 2020, no revenue was earned. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Schedule of Estimated Useful Lives of Property Plant and Equipment | The estimated useful lives as follows: Software 3 years Office Furniture 5 years |
Income Taxes (Tables)
Income Taxes (Tables) | 9 Months Ended |
Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Schedule of Reconciliation of Income Tax Benefit | The reconciliation of income tax benefit (expenses) at the U.S. statutory rate at 21% and 34% for the period ended as follows: December 31, 2020 March 31, 2020 Tax benefit (expenses) at U.S. statutory rate $ 9,781 $ 23,834 Change in valuation allowance (9,781 ) (23,834 ) Tax benefit (expenses), net $ - $ - |
Schedule of Deferred Tax Assets | The tax effects of temporary differences that give rise to significant portions of the net deferred tax assets are as follows: December 31, 2020 March 31, 2020 Net operating loss $ 53,910 $ 44,129 Valuation allowance (53,910 ) (43,129 ) Deferred tax assets, net $ - $ - |
Schedule of Tax Effects of Temporary Differences of Deferred Tax | The tax effects of temporary differences that give rise to significant portions of the net deferred tax assets are as follows: December 31, 2020 Balance-Beginning $ 44,129 Increase/(Decrease) in Valuation allowance 9,781 Balance-Ending $ 53,910 |
Going Concern (Details Narrativ
Going Concern (Details Narrative) - USD ($) | Dec. 31, 2020 | Mar. 31, 2020 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Accumulated loss | $ (256,712) | $ (210,138) |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | |
Advertising expense | ||||
Assets fair value | ||||
Liabilities fair value | ||||
Revenue | ||||
Maximum [Member] | ||||
Bank deposits insured amounts | $ 250,000 | $ 250,000 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Schedule of Estimated Useful Lives of Property Plant and Equipment (Details) | 9 Months Ended |
Dec. 31, 2020 | |
Software [Member] | |
Plant and equipment estimated useful lives | 3 years |
Office Furniture [Member] | |
Plant and equipment estimated useful lives | 5 years |
Stockholders Equity (Details Na
Stockholders Equity (Details Narrative) - USD ($) | Jul. 09, 2018 | Oct. 17, 2017 | Mar. 07, 2016 | Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2020 | Mar. 31, 2020 |
Common stock, shares authorized | 75,000,000 | 75,000,000 | |||||
Common stock, par value | $ 0.001 | $ 0.001 | |||||
Number of common stock issued | 175,000 | ||||||
Proceeds from common stock | $ 1,750 | ||||||
Number of common stock for private transaction, shares | shares | 9,000,000 | ||||||
Percentage for voting rights | 43.00% | ||||||
Percentage for outstanding shares capital | 79.00% | ||||||
Issued shares value | $ 424,000 | ||||||
Director [Member] | |||||||
Number of common stock issued | 9,000,000 | 2,320,000 | |||||
Shares issued price per share | $ 0.001 | $ 0.01 | |||||
Proceeds from common stock | $ 9,000 | $ 23,200 | |||||
Shareholder [Member] | |||||||
Number of retired, shares | 90,000 | ||||||
Number of retired, value | $ 900 |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - USD ($) | Dec. 31, 2020 | Mar. 31, 2020 | Dec. 31, 2018 |
Loan from related parties | $ 135,209 | $ 45,661 | |
Dmitrii Iaroshenko [Member] | |||
Loan from related parties | $ 914 | ||
Dehang Zhou [Member] | |||
Remaining balance of accrued expenses | $ 151 |
Income Taxes (Details Narrative
Income Taxes (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2020 | Mar. 31, 2020 | |
Income Tax Disclosure [Abstract] | |||
Net operating loss carry forwards | $ 256,712 | ||
Income tax, description | On December 22, 2017, the Tax Cuts and Jobs Act of 2017 (the "2017 Tax Act") was signed into law, making significant changes to the Internal Revenue Code. Changes include, but are not limited to, a federal corporate tax rate decrease from 35% to 21% for tax years beginning after December 31, 2017, the transition of U.S. international taxation from a worldwide tax system to a territorial system and a one-time transition tax on the mandatory deemed repatriation of foreign earnings. | ||
Federal corporate tax rate | 21.00% | 34.00% | |
Provision for income taxes |
Income Taxes - Schedule of Reco
Income Taxes - Schedule of Reconciliation of Income Tax Benefit (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2020 | Mar. 31, 2020 | |
Income Tax Disclosure [Abstract] | |||
Tax benefit (expenses) at U.S. statutory rate | $ 9,781 | $ 23,834 | |
Change in valuation allowance | (9,781) | (23,834) | |
Tax benefit (expenses), net |
Income Taxes - Schedule of Re_2
Income Taxes - Schedule of Reconciliation of Income Tax Benefit (Details) (Parenthetical) | 9 Months Ended | 12 Months Ended |
Dec. 31, 2020 | Mar. 31, 2020 | |
Income Tax Disclosure [Abstract] | ||
Tax benefit (expenses) at U.S. statutory rate | 21.00% | 34.00% |
Income Taxes - Schedule of Defe
Income Taxes - Schedule of Deferred Tax Assets (Details) - USD ($) | Dec. 31, 2020 | Mar. 31, 2020 |
Income Tax Disclosure [Abstract] | ||
Net operating loss | $ 53,910 | $ 44,129 |
Valuation allowance | (53,910) | (43,129) |
Deferred tax assets, net |
Income Taxes - Schedule of Tax
Income Taxes - Schedule of Tax Effects of Temporary Differences of Deferred Tax (Details) | 9 Months Ended |
Dec. 31, 2020USD ($) | |
Income Tax Disclosure [Abstract] | |
Balance-Beginning | $ 44,129 |
Increase/(Decrease) in Valuation allowance | 9,781 |
Balance-Ending | $ 53,910 |