Med Spa Vacations (MDVP) 10-Q 19 Jul 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2022	Jul. 31, 2022
Cover [Abstract]
Entity Registrant Name	MED SPA VACATIONS INC.
Entity Central Index Key	0001671077
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Small Business	true
Entity Shell Company	true
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Jun. 30, 2022
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
Entity Common Stock Shares Outstanding		10,055,000
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	333-210922
Entity Incorporation State Country Code	NV
Entity Tax Identification Number	47-5268172
Entity Interactive Data Current	Yes
Entity Address Address Line 1	500 W. 5th Street, Suite 800
Entity Address Address Line 2	PMB #59
Entity Address City Or Town	Winston Salem
Entity Address State Or Province	NC
Entity Address Postal Zip Code	27101
City Area Code	845
Local Phone Number	548-3280

Balance Sheets

Balance Sheets - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Current Assets:
Cash	$ 25,856	$ 2,266
Total Current Assets	25,856	2,266
Total Assets	25,856	2,266
Current Liabilities:
Accounts payable and accrued liabilities	2,091	6
Accrued interest - related party	0	1,196
Note payable - related party	0	128,750
Note payable	215,000	0
Total Current Liabilities	217,091	129,952
Total Liabilities	217,091	129,952
Stockholders' Deficit:
Preferred stock, $0.001 par value, 25,000,000 shares authorized, no shares issued and outstanding	0	0
Common stock, $0.001 par value, 100,000,000 shares authorized, 10,005,000 shares issued and outstanding	10,005	10,005
Additional paid-in capital	395,296	395,296
Accumulated deficit	(596,536)	(532,987)
Total Stockholders' Deficit	(191,235)	(127,686)
Total Liabilities and Stockholders' Deficit	$ 25,856	$ 2,266

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Balance Sheets
Preferred Stock, Par Value	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	25,000,000	25,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par Value	$ 0.001	$ 0.001
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares Issued	10,005,000	10,005,000
Common Stock, Shares Outstanding	10,005,000	10,005,000

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Operating Expenses
General and administrative	$ 929	$ 871	$ 1,884	$ 1,441
Management fees - related party	3,000	2,000	6,000	3,000
Professional fees	20,667	31,081	50,423	106,616
Total Operating Expenses	24,596	33,952	58,307	111,057
Loss from operations	(24,596)	(33,952)	(58,307)	(111,057)
Other Income (Expense)
Interest expense	(2,085)	(1,929)	(2,085)	(3,088)
Interest expense - related party	(884)	0	(3,157)	0
Net Other Expense	(2,969)	(1,929)	(5,242)	(3,088)
Net Loss	$ (27,565)	$ (35,881)	$ (63,549)	$ (114,145)
Net loss per common share: Basic and Diluted	$ 0	$ 0	$ (0.01)	$ (0.01)
Weighted average number of common shares outstanding: Basic and Diluted	10,005,000	10,005,000	10,005,000	10,869,199

Statements of Stockholders Defi

Statements of Stockholders Deficit (Unaudited) - USD ($)	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit
Balance, shares at Dec. 31, 2020		14,350,000
Balance, amount at Dec. 31, 2020	$ (80,986)	$ 14,350	$ 272,445	$ (367,781)
Cancellation of common stock, shares		(4,345,000)
Cancellation of common stock, amount	0	$ (4,345)	4,345	0
Debt forgiveness by related party	118,506	0	118,506	0
Net loss	(78,264)	$ 0	0	(78,264)
Balance, shares at Mar. 31, 2021		10,005,000
Balance, amount at Mar. 31, 2021	(40,744)	$ 10,005	395,296	(446,045)
Balance, shares at Dec. 31, 2020		14,350,000
Balance, amount at Dec. 31, 2020	(80,986)	$ 14,350	272,445	(367,781)
Net loss	(114,145)
Balance, shares at Jun. 30, 2021		10,005,000
Balance, amount at Jun. 30, 2021	(76,625)	$ 10,005	395,296	(481,926)
Balance, shares at Mar. 31, 2021		10,005,000
Balance, amount at Mar. 31, 2021	(40,744)	$ 10,005	395,296	(446,045)
Net loss	(35,881)	$ 0	0	(35,881)
Balance, shares at Jun. 30, 2021		10,005,000
Balance, amount at Jun. 30, 2021	(76,625)	$ 10,005	395,296	(481,926)
Balance, shares at Dec. 31, 2021		10,005,000
Balance, amount at Dec. 31, 2021	(127,686)	$ 10,005	395,296	(532,987)
Net loss	(35,984)	$ 0	0	(35,984)
Balance, shares at Mar. 31, 2022		10,005,000
Balance, amount at Mar. 31, 2022	(163,670)	$ 10,005	395,296	(568,971)
Balance, shares at Dec. 31, 2021		10,005,000
Balance, amount at Dec. 31, 2021	(127,686)	$ 10,005	395,296	(532,987)
Net loss	(63,549)
Balance, shares at Jun. 30, 2022		10,005,000
Balance, amount at Jun. 30, 2022	(191,235)	$ 10,005	395,296	(596,536)
Balance, shares at Mar. 31, 2022		10,005,000
Balance, amount at Mar. 31, 2022	(163,670)	$ 10,005	395,296	(568,971)
Net loss	(27,565)	$ 0	0	(27,565)
Balance, shares at Jun. 30, 2022		10,005,000
Balance, amount at Jun. 30, 2022	$ (191,235)	$ 10,005	$ 395,296	$ (596,536)

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash Flows from Operating Activities
Net loss	$ (63,549)	$ (114,145)
Changes in operating assets and liabilities:
Expenses paid by related party	0	74,184
Accounts payable and accrued liabilities	0	(36,907)
Accrued note payable interest	2,085	3,088
Accrued note payable interest - related party	(1,196)	0
Net cash used in operating activities	(62,660)	(73,780)
Cash Flows from Financing Activities
Proceeds of promissory note payable	215,000	150,000
Repayment of promissory note payable -related party	(183,250)	(150,000)
Proceeds of promissory note payable - related party	54,500	100,000
Net cash provided by Financing Activities	86,250	100,000
Net change in cash for period	23,590	26,220
Cash at beginning of period	2,266	0
Cash at end of period	25,856	26,220
Supplemental Cash Flow Information
Cash paid for income taxes	0	0
Cash paid for interest	4,353	2,250
Non Cash Investing and Financing Activities
Related party debt forgiven recorded as additional paid in capital	0	118,506
Cancellation of common stock	$ 0	$ 4,345

Summary Of Significant Accounti

Summary Of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Summary Of Significant Accounting Policies
Note 1 - Summary Of Significant Accounting Policies	Note 1 - Summary of Significant Accounting Policies Basis of Presentation of Unaudited Interim Financial Statements The accompanying unaudited interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial statements and with the instructions to Form 10-Q and Article 8 of Regulation S-X of the United States Securities and Exchange Commission (“SEC”). Accordingly, they do not contain all information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements. In the opinion of the Company’s management, the accompanying unaudited financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as of June 30, 2022, and the results of operations and cash flows for the periods presented. The results of operations for the period ended June 30, 2022, are not necessarily indicative of the operating results for the full fiscal year or any future period. These unaudited interim financial statements should be read in conjunction with the financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on March 24, 2022. Use of Estimates and Assumptions The preparation of financial statements in conformity with GAAP 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. Cash and Cash Equivalents The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents. The Company had $25,856 and $2,266 in cash as of June 30, 2022 and December 31, 2021, respectively. Reclassification Certain accounts from prior periods have been reclassified to conform to the current period presentation.

Going Concern

Going Concern	6 Months Ended
	Jun. 30, 2022
Going Concern
Note 2 - Going Concern	Note 2 – Going Concern Going concern and Liquidity Considerations The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. As of June 30, 2022, the Company has reoccurring losses from operations, an accumulated deficit of $596,536 and has earned no revenues. The Company intends to fund operations through equity financing arrangements, which may be insufficient to fund its capital expenditures, working capital and other cash requirements for the year ending December 31, 2022. The ability of the Company to emerge from the early stage is dependent upon, among other things, obtaining additional financing to continue operations, and development of its business plan. In response to these problems, management intends to raise additional funds through public or private placement offerings. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2022
Related Party Transactions
Note 3 - Related-party Transactions	Note 3 – Related Party Transactions (i) During the six months ended June 30, 2022 and 2021, the Company’s controlling shareholder advanced to the Company an amount of $0 and $74,184, respectively, to pay certain expenses on behalf of the Company. (ii) During the six months ended June 30, 2022 and 2021, the Company paid $6,000 and $3,000 of management fees to the sole officer and director of the Company. Note payable – related party On May 10, 2021, the Company received a loan of $100,000 from Peter L. Coker, Sr., a shareholder of the Company. To evidence said loan, the Company issued to Mr. Coker a promissory note in the principal amount of $100,000 (in this case, the “Note”), with a maturity date of May 9, 2022. Interest on the Note accrued on the principal amount at the rate of six percent (6%) per annum, and was required to be paid on a quarterly basis, in the amount of $1,500 per quarter, on the following dates: August 10, 2021, November 10, 2021, February 10, 2022, and May 10, 2022. The Company was permitted to prepay any amounts due under the Note without penalty or premium. On May 2, 2022, the Company repaid in full all outstanding principal due under the Note in the amount of $100,000 and all interest payable in the amount of $1,375. The Company did not incur any early termination penalties as a result of the repayment of indebtedness and termination of the Note. On September 28, 2021, the Company received a loan of $15,000 from Peter L. Coker, Sr., a shareholder of the Company. To evidence said loan, the Company issued to Mr. Coker a promissory note in the principal amount of $15,000 (in this case, the “Note”), with a maturity date of September 27, 2022. Interest on the Note accrued on the principal amount at the rate of six percent (6%) per annum, and was required to be paid on a quarterly basis, in the amount of $225 per quarter, on the following dates: December 28, 2021, March 28, 2022, June 28, 2022, and September 27, 2022. The Company was permitted to prepay any amounts due under the Note without penalty or premium. On March 29, 2022, the Company repaid in full all outstanding principal due under the Note in the amount of $15,000 and all interest payable in the amount of $225. The Company did not incur any early termination penalties as a result of the repayment of indebtedness and termination of the Note. On October 27, 2021, the Company received a loan of $5,250 from Peter L. Coker, Sr., a shareholder of the Company. To evidence said loan, the Company issued to Mr. Coker a promissory note in the principal amount of $5,250 (in this case, the “Note”), with a maturity date of October 26, 2022. Interest on the Note accrued on the principal amount at the rate of six percent (6%) per annum, and was required to be paid on a quarterly basis, in the amount of $78.75 per quarter, on the following dates: January 27, 2022, April 27, 2022, July 27, 2022, and October 26, 2022. The Company was permitted to prepay any amounts due under the Note without penalty or premium. On May 2, 2022, the Company repaid in full all outstanding principal due under the Note in the amount of $5,250 and all interest payable in the amount of $7875. The Company did not incur any early termination penalties as a result of the repayment of indebtedness and termination of the Note. On November 29, 2021, the Company received a loan of $8,500 from Fiesta Homes, LLC (“Fiesta”), which is controlled by a family member of a shareholder of the Company. To evidence said loan, the Company issued to Fiesta a promissory note in the principal amount of $8,500 (in this case, the “Note”), with a maturity date of November 29, 2022. Interest on the Note accrued on the principal amount at the rate of six percent (6%) per annum, and was required to be paid on a quarterly basis, in the amount of $127.50 per quarter, on the following dates: February 28, 2022, May 31, 2022, August 29, 2022, and November 29, 2022. The Company was permitted to prepay any amounts due under the Note without penalty or premium. On May 2, 2022, the Company repaid in full all outstanding principal due under the Note in the amount of $8,500 and all interest payable in the amount of $85. The Company did not incur any early termination penalties as a result of the repayment of indebtedness and termination of the Note. On January 18, 2022, the Company received a loan of $15,000 from 12804 Morehead Investments, LLC (“Morehead”), which is controlled by a shareholder of the Company. To evidence said loan, the Company issued to Morehead a promissory note in the principal amount of $15,000 (in this case, the “Note”), with a maturity date of January 18, 2023. Interest on the Note accrued on the principal amount at the rate of six percent (6%) per annum, and was required to be paid on a quarterly basis, in the amount of $225 per quarter, on the following dates: April 18,2022, July 18, 2022, October 18,2022, and January 18, 2023. The Company was permitted to prepay any amounts due under the Note without penalty or premium. On May 2, 2022, the Company repaid in full all outstanding principal due under the Note in the amount of $15,000 and all interest payable in the amount of $263. The Company did not incur any early termination penalties as a result of the repayment of indebtedness and termination of the Note. On March 1, 2022, the Company received a loan of $19,500 from Morehead, which is controlled by a shareholder of the Company. To evidence said loan, the Company issued to Morehead a promissory note in the principal amount of $19,500 (in this case, the “Note”), with a maturity date of March 1, 2023. Interest on the Note accrued on the principal amount at the rate of six percent (6%) per annum, and was required to be paid on a quarterly basis, in the amount of $292.50 per quarter, on the following dates: June 1, 2022, September 1, 2022, December 1, 2022, and March 1, 2023. The Company was permitted to prepay any amounts due under the Note without penalty or premium. On May 2, 2022, the Company repaid in full all outstanding principal due under the Note in the amount of $19,500 and all interest payable in the amount of $195. The Company did not incur any early termination penalties as a result of the repayment of indebtedness and termination of the Note. On March 1, 2022, the Company received a loan of $20,000 from Peter L. Coker, Sr., a shareholder of the Company. To evidence said loan, the Company issued to Mr. Coker a promissory note in the principal amount of $20,000 (in this case, the “Note”), with a maturity date of March 1, 2023. Interest on the Note accrued on the principal amount at the rate of six percent (6%) per annum, and was required to be paid on a quarterly basis, in the amount of $300 per quarter, on the following dates: June 1,2022, September 1, 2022, December 1, 2022, and March 1, 2023. The Company was permitted to prepay any amounts due under the Note without penalty or premium. On May 2, 2022, the Company repaid in full all outstanding principal due under the Note in the amount of $20,000 and all interest payable in the amount of $200. The Company did not incur any early termination penalties as a result of the repayment of indebtedness and termination of the Note. During the six months ended June 30, 2022, the Company recorded interest expense of $3,157 and repaid $4,353 of interest. During the six months ended June 30, 2021, the Company recorded interest expense of $3,088 and repaid $2,250 of interest. As of June 30, 2022, and December 31, 2021, the outstanding balances of promissory note – related party and accrued interest were $0 and $0 and $128,750 and $1,196, respectively.

Note Payable

Note Payable	6 Months Ended
	Jun. 30, 2022
Note Payable
Note 4 - Note Payable	Note 4 – Note Payable On May 2, 2022, the Company received a loan of $215,000 from Global Equity Limited, a North Carolina corporation (“Global”). To evidence said loan, the Company issued to Global a promissory note in the principal amount of $215,000 (in this case, the “Note”), with a maturity date of May 1, 2023. Interest on the Note accrues on the principal amount at the rate of six percent (6%) per annum, and shall be paid on a quarterly basis, in the amount of $3,225 per quarter, on the following dates: August 1,2022, November 1, 2022, February 1, 2023, and May 1, 2023. The Company may prepay any amounts due under the Note without penalty or premium. During the six months ended June 30, 2022, the Company recorded interest expense of $2,085. As of June 30, 2022, the outstanding balances of promissory note and accrued interest were $215,000 and $2,085, respectively.

Commitments

Commitments	6 Months Ended
	Jun. 30, 2022
Commitments
Note 5 - Commitments	Note 5 – Commitments On June 18, 2021, the Company entered into a consulting agreement (the “Benchmark Consulting Agreement”) with Benchmark Capital, LLC, a New Jersey limited liability company (“Benchmark”), effective as of July 1, 2021. Pursuant to the Benchmark Consulting Agreement, Benchmark will assist the Company in connection with all fillings required by the Company to be made with the SEC, for a consulting fee of $2,500 per month. The Benchmark Consulting Agreement can be terminated by either party, at any time, upon 30 days’ prior written notice. During the six months ended June 30, 2022, the Company incurred and paid consulting fees of $15,000.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2022
Subsequent Events
Note 6 - Subsequent Events	Note 6– Subsequent Events Management has evaluated subsequent events through the date these financial statements were issued and determined the following events require disclosure: On June 30, 2022, the Company’s Board of Directors approved the issuance of 50,000 shares of common stock to the Company’s sole officer and director as compensation. On July 11, 2022, the 50,000 shares of common stock were issued.

Summary Of Significant Accoun_2

Summary Of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Summary Of Significant Accounting Policies
Basis Of Presentation Of Unaudited Interim Financial Statements	The accompanying unaudited interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial statements and with the instructions to Form 10-Q and Article 8 of Regulation S-X of the United States Securities and Exchange Commission (“SEC”). Accordingly, they do not contain all information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements. In the opinion of the Company’s management, the accompanying unaudited financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as of June 30, 2022, and the results of operations and cash flows for the periods presented. The results of operations for the period ended June 30, 2022, are not necessarily indicative of the operating results for the full fiscal year or any future period. These unaudited interim financial statements should be read in conjunction with the financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on March 24, 2022.
Use Of Estimates And Assumptions	The preparation of financial statements in conformity with GAAP 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.
Cash And Cash Equivalents	The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents. The Company had $25,856 and $2,266 in cash as of June 30, 2022 and December 31, 2021, respectively.
Reclassification	Certain accounts from prior periods have been reclassified to conform to the current period presentation.

Summary Of Significant Accoun_3

Summary Of Significant Accounting Policies (Details Narrative) - USD ($)	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Summary Of Significant Accounting Policies (Details Narrative)
Cash	$ 25,856	$ 2,266	$ 26,220	$ 0

Going Concern (Details Narrativ

Going Concern (Details Narrative) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Going Concern (Details Narrative)
Accumulated Deficit	$ (596,536)	$ (532,987)

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)			1 Months Ended				3 Months Ended		6 Months Ended
	Mar. 02, 2022	May 10, 2021	Jan. 18, 2022	Nov. 29, 2021	Oct. 27, 2021	Sep. 28, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	May 03, 2022	May 02, 2022	May 01, 2022	Mar. 29, 2022	Mar. 01, 2022	Dec. 31, 2021
Interest Expense							$ 2,085	$ 1,929	$ 2,085	$ 3,088
Promissory Note, Outstanding Balance							215,000		215,000
Accrued Interest							2,085		2,085
Peter L. Coker
Interest Expense									3,157	3,088
Repayments Of Interest									4,353	2,250
Promissory Note, Outstanding Balance							0		0		$ 5,250	$ 100,000	$ 20,000	$ 15,000		$ 128,750
Accrued Interest							0		0		7,875	1,375	$ 200	$ 225		$ 1,196
Loans Recieved	$ 20,000	$ 100,000			$ 5,250	$ 15,000
Promissory Note Issued		$ 100,000			$ 5,250	$ 15,000									$ 20,000
Maturity Date	Mar. 01, 2023	May 09, 2022			Oct. 26, 2022	Sep. 27, 2022
Rate Of Interest	6%	6%			6%	6%
Fiesta Homes, LLC
Promissory Note, Outstanding Balance												8,500
Accrued Interest												85
Loans Recieved				$ 8,500
Promissory Note Issued				$ 8,500
Maturity Date				Nov. 29, 2022
Rate Of Interest				6%
Morehead Investments, LLC
Promissory Note, Outstanding Balance											19,500	15,000
Accrued Interest											$ 195	$ 263
Loans Recieved	$ 19,500		$ 15,000
Promissory Note Issued			$ 15,000												$ 19,500
Maturity Date	Mar. 01, 2023		Jan. 18, 2023
Rate Of Interest	6%		6%
Sole Director And Officer [Member]
Due To Related Party							$ 0	$ 74,184	0	74,184
Management Fees									$ 6,000	$ 3,000

Note Payable (Details Narrative

Note Payable (Details Narrative) - USD ($)		3 Months Ended		6 Months Ended
	May 02, 2022	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Accrued interest		$ 2,085		$ 2,085
Interest expense		2,085	$ 1,929	2,085	$ 3,088
Promissory note, outstanding balance		$ 215,000		$ 215,000
Global Equity Limited
Loans recieved	$ 215,000
Notes payable, principal amount	$ 215,000
Maturity date	May 01, 2023
Quarterly payment	$ 3,225
Rate of interest	6%

Commitments (Details Narrative)

Commitments (Details Narrative) - Benchmark Consulting Agreement [Member] - USD ($)	1 Months Ended	6 Months Ended
	Jun. 18, 2018	Jun. 30, 2022
Consulting fees, per month	$ 2,500
Consulting fees		$ 15,000

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2022	Jul. 11, 2022	Dec. 31, 2021
Officer and director as compensation	$ 50,000
Common stock issued	10,005,000		10,005,000
Subsequent Event [Member]
Common stock issued		50,000