Document and Entity Information
Document and Entity Information | 6 Months Ended |
Sep. 30, 2019shares | |
Document And Entity Information | |
Entity Registrant Name | Achison Inc |
Entity Central Index Key | 0001672571 |
Document Type | 10-Q |
Document Period End Date | Sep. 30, 2019 |
Amendment Flag | false |
Current Fiscal Year End Date | --03-31 |
Is Entity's Reporting Status Current? | Yes |
Entity Interactive Data | No |
Entity Filer Category | Non-accelerated Filer |
Entity Common Stock, Shares Outstanding | 9,990,000 |
Document Fiscal Period Focus | Q2 |
Document Fiscal Year Focus | 2020 |
Entity Emerging Growth Company | false |
Entity Small Business | true |
Balance Sheets
Balance Sheets - USD ($) | Sep. 30, 2019 | Mar. 31, 2019 |
Current Assets: | ||
Cash & cash equivalents | $ 141,312 | $ 6,092 |
Short Term Investments | 3,000 | 13,724 |
Deferred Tax | 10,337 | 10,337 |
Total current assets | 154,649 | 30,153 |
Property and Equipment: | ||
Billboard | 100,000 | |
Less: Accumulated depreciation | ||
Other assets: | ||
Notes Receivable | 17,100 | 35,100 |
Total other assets | 17,100 | 35,100 |
TOTAL ASSETS | 271,749 | 65,253 |
Current Liabilities: | ||
Accounts Payable | ||
Taxes Payable | 12,166 | |
Total current liabilities | 12,166 | |
Stockholder's equity: | ||
Common Stock: 0.01 Par Value; 30,000,000 Shares Authorized; 20,010,000 share issued and outstanding | 210,090 | 9,990 |
Additional paid-in capital | 72,950 | 39,035 |
Retained Earnings (Deficit) | (11,291) | 4,062 |
Total Stockholder's equity | 271,749 | 53,087 |
Total liabilities and stockholder's equity | $ 271,749 | $ 65,253 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 2019 | Mar. 31, 2019 |
Statement of Financial Position [Abstract] | ||
Common stock, par value | $ 0.01 | $ 0.001 |
Common stock, Authorized | 30,000,000 | 9,990,000 |
Common stock, Issued | 20,010,000 | 9,990,000 |
Common stock, outstanding | 20,010,000 | 9,990,000 |
Statements of Revenues and Expe
Statements of Revenues and Expenses - USD ($) | 3 Months Ended | 6 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2019 | Sep. 30, 2018 | |
Revenues: | |||
Realized Gain (loss) from Investment | $ (34,035) | $ (35,924) | $ 63,660 |
Trading Comissions | |||
Interest | 1 | 1,418 | |
Unrealized Gain (loss) from Investments | 4,599 | ||
Services | 36,000 | 36,000 | |
Less: (Fee and commission expense) | (1,005) | (1,026) | (565) |
Net Profit (loss) | 960 | (949) | 69,112 |
Expenses: | |||
Bank Service Charges | 60 | 122 | 270 |
Franchise Tax, Licenses & Permits | 1,337 | 3,288 | 713 |
Custody Expenses | 36 | 26 | |
Legal & Professional | 6,958 | 10,958 | 19,919 |
Total Expenses | 8,355 | 14,404 | 20,928 |
Excess of Expenses over Revenues before Taxes | (7,395) | (15,353) | 48,184 |
Provision for Taxes-Federal Taxes | 10,998 | ||
Provision for Taxes-NY State Taxes | 3,404 | ||
Provision for Taxes-NYC Taxes | 4,635 | ||
Net Income (Loss) | $ (7,395) | (15,353) | 29,147 |
Attributable to the Parent Net Income (Loss) | $ (15,353) | $ (302) |
Statement of Changes in Stockho
Statement of Changes in Stockholders Equity - 6 months ended Sep. 30, 2019 - USD ($) | Retained Earnings( Deficit) | Total |
Beginning Balance, Amount at Mar. 31, 2019 | $ 53,087 | |
Net (Loss) | $ (15,353) | (15,353) |
Additional paid-in capital | 33,915 | |
Common shares issued for cash, amount | 200,100 | |
Ending Balance, Amount at Sep. 30, 2019 | $ 271,749 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 6 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Cash Flows From Operating Activities: | ||
Net (Loss) | $ (15,353) | $ (302) |
Adjustments to reconcile excess of revenue over expenses to net cash provided by operating activities: | ||
Depreciation | ||
(Increase) decrease in assets: | ||
Accounts receivables | ||
Short-Term Investments | 10,724 | 270 |
Increase (decrease) in liabilities: | ||
Accounts payables | (12,166) | |
Net cash provided by (used in) operating activities | (16,795) | (32) |
Cash Flows From Investing Activities: | ||
Fixed Assets - Billboard | (100,000) | |
Net cash (used in) investing activities | (100,000) | |
Cash Flows From Financing Activities: | ||
Notes Receivable | 18,000 | |
Loans | ||
Capital stock | 200,100 | 9,990 |
Additional paid-in capital | 33,915 | 510 |
Net cash provided by (used in) financing activities | 252,015 | 10,500 |
Net (decrease) in cash and cash equivalents | 135,220 | 10,468 |
Cash and cash equivalents - beginning | 6,092 | 1,635 |
Cash and cash equivalents - ending | 141,312 | 12,103 |
Supplemental cash flow information: | ||
Cash paid during the periods for: Interest expenses | ||
Cash paid during the period for: Tax expenses |
NOTE 1. ORGANIZATION AND BUSINE
NOTE 1. ORGANIZATION AND BUSINESS ACTIVITIES | 6 Months Ended |
Sep. 30, 2019 | |
Accounting Policies [Abstract] | |
NOTE 1. ORGANIZATION AND BUSINESS ACTIVITIES | NOTE 1. ORGANIZATION AND BUSINESS ACTIVITIES Achison the Company, incorporated in the State of New York on December 29, 2014, is currently engaged in trading in Prior to July of 2019 the Company primarily engaged in trading spot gold and silver in Singapore Markets, crypto currency and US equity stocks, currently, however, The Company currently engages only in internet advertising and has plans to acquire a vineyard to distribute and sell wines in the future. The Company’s activities are subject to significant risks and uncertainties. |
NOTE 2. SUMMARY OF SIGNIFICANT
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Sep. 30, 2019 | |
Accounting Policies [Abstract] | |
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES a. Basis of Presentation The accompanying consolidated financial statements and its subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). The company was incorporated on December 29, 2014, and the Company started its operations to trade the spot gold and spot silver and as of July 01, 2019 it has changed its operations to internet advertising and has plans to acquire a vineyard to distribute and sell wines. These accompanying financial statements of the Company is for the fiscal year from April 01, 2019 to September 30, 2019. b. Use of Estimates The preparation of financial statements in conformity with 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. c. Income Taxes The Company is responsible for paying federal, state and local income tax and, accordingly, provisions are made for income taxes. d. Fair Value of Financial Instruments The Company's financial assets and liabilities are carried at fair value or are carried at amounts which approximate fair value as the market value of such items is not materially sensitive to shifts in market interest rates due to the limited term to maturity of these instruments. The Company adopted SFAS No. 157, which defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, and expands disclosures about investments that are measured and reported at fair value. SFAS No. 157 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels explained below: Level 1 Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Valuation adjustments are not applied to Level 1 securities. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these securities does not entail a significant degree of judgment. Level 2 Pricing inputs are other than used in Level 1 which include the closing bid price for unlisted marketable securities which are available in active or inactive markets for identical investments or liabilities, other direct or indirect observable inputs that can be corroborated by market data or the use of models or other valuation methodologies as of the reporting date. Investments which are generally included in this category include state and municipal obligations in an active or inactive market that are valued using observable inputs other than quoted prices. Level 3 Pricing inputs are unobservable for the investment and include situations where there is little, if any, market activity for the investment. The inputs into the determination of fair value require significant management judgment or estimation. Investments that are included in this category generally include state and municipal obligations which are in an inactive market and valued utilizing risk assumptions based on unobservable inputs. Unrealized gains and losses are included in earnings and are reported in the Statement of Income as a component of other income and losses. Generally, for all trading securities, fair value is determined by reference to quoted market prices and other relevant information generated by market transactions. As at September 30, 2019, the Company did not hold any investment securities. e. Basis of measurement The financial statements have been prepared on the historical cost basis, except for the following material items in the statement of financial position: · All short-term investments including spot gold, spot silver and equity securities are considered Trading Securities · Short-term investments at fair value through gains or losses are measured at fair value f. Cash and Cash Equivalents The financial statements are presented in US dollar, which is the Company’s functional currency. Cash and cash equivalents include cash on hand; cash in banks and brokerage accounts and all highly liquid investments with maturity of three months or less at the time purchase. The Company maintains its cash balance at a financial institution located in New York. Cash account at the New York institution are insured by the Federal Deposit Insurance Corporation up to $250,000. At times during the year, the cash balances may exceed the FDIC insurance limits. The following is a schedule of cash and cash equivalents at the year ended on September 30, 2019: Cash in Bank and brokerage accounts $141,312 g. Revenue Recognition The Company recognizes revenues when earned. |
NOTE 3. EARNINGS PER SHARE
NOTE 3. EARNINGS PER SHARE | 6 Months Ended |
Sep. 30, 2019 | |
Earnings Per Share, Basic [Abstract] | |
NOTE 3. EARNINGS PER SHARE | NOTE 3. EARNINGS PER SHARE Net loss per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted average number of shares of common stock and potentially outstanding shares of common stock during each period. There were no potentially dilutive shares outstanding as of September 30, 2019. |
NOTE 4. SHORT TERM INVESTMENTS
NOTE 4. SHORT TERM INVESTMENTS | 6 Months Ended |
Sep. 30, 2019 | |
Investments, All Other Investments [Abstract] | |
NOTE 4. SHORT TERM INVESTMENTS | NOTE 4. SHORT TERM INVESTMENTS The Company has liquidated most of it’s short term investments as of September 30, 2019 and has recognized the losses on it’s statement of revenues and expenses. Only $3,000 investment in Start Engine Crowdfunding Inc. exists as of 09/30/2019 at cost value. |
NOTE 5. STOCKHOLDERS EQUITY
NOTE 5. STOCKHOLDERS EQUITY | 6 Months Ended |
Sep. 30, 2019 | |
Equity [Abstract] | |
NOTE 5. STOCKHOLDERS EQUITY | NOTE 5. STOCKHOLDER’S EQUITY The Company has authorized 30,000,000 shares of common stocks with a par value of 0.01 per share. The Company has issued and outstanding 20,010,000 Class A common shares as of September 30, 2019. In the period from April 1, 2019 to September 30, 2019, the Company didn't issue any stock types, options and warrants; the Company didn't have any share-based compensation, related to employee share-based awards, Tax benefit from share-based award activities. |
NOTE 6. RELATED PARTY TRANSACTI
NOTE 6. RELATED PARTY TRANSACTIONS | 6 Months Ended |
Sep. 30, 2019 | |
Related Party Transactions [Abstract] | |
NOTE 6. RELATED PARTY TRANSACTIONS | NOTE 6. RELATED PARTY TRANSACTIONS September 09, 2019, Achison Inc. has issued 10,010,000 class A Common shares to Dazhong 368 Inc., Mr. Dingshan Zhang is the CEO of Achison Inc. and is also the CEO and 100% owner of Dazhong 368 Inc. |
NOTE 2. SUMMARY OF SIGNIFICAN_2
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 6 Months Ended |
Sep. 30, 2019 | |
Accounting Policies [Abstract] | |
Basis of Presentation | a. Basis of Presentation The accompanying consolidated financial statements and its subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). The company was incorporated on December 29, 2014, and the Company started its operations to trade the spot gold and spot silver and as of July 01, 2019 it has changed its operations to internet advertising and has plans to acquire a vineyard to distribute and sell wines. These accompanying financial statements of the Company is for the fiscal year from April 01, 2019 to September 30, 2019. |
Use of Estimates | b. Use of Estimates The preparation of financial statements in conformity with 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. |
Income Taxes | c. Income Taxes The Company is responsible for paying federal, state and local income tax and, accordingly, provisions are made for income taxes. |
Fair Value of Financial Instruments | d. Fair Value of Financial Instruments The Company's financial assets and liabilities are carried at fair value or are carried at amounts which approximate fair value as the market value of such items is not materially sensitive to shifts in market interest rates due to the limited term to maturity of these instruments. The Company adopted SFAS No. 157, which defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, and expands disclosures about investments that are measured and reported at fair value. SFAS No. 157 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels explained below: Level 1 Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Valuation adjustments are not applied to Level 1 securities. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these securities does not entail a significant degree of judgment. Level 2 Pricing inputs are other than used in Level 1 which include the closing bid price for unlisted marketable securities which are available in active or inactive markets for identical investments or liabilities, other direct or indirect observable inputs that can be corroborated by market data or the use of models or other valuation methodologies as of the reporting date. Investments which are generally included in this category include state and municipal obligations in an active or inactive market that are valued using observable inputs other than quoted prices. Level 3 Pricing inputs are unobservable for the investment and include situations where there is little, if any, market activity for the investment. The inputs into the determination of fair value require significant management judgment or estimation. Investments that are included in this category generally include state and municipal obligations which are in an inactive market and valued utilizing risk assumptions based on unobservable inputs. Unrealized gains and losses are included in earnings and are reported in the Statement of Income as a component of other income and losses. Generally, for all trading securities, fair value is determined by reference to quoted market prices and other relevant information generated by market transactions. As at September 30, 2019, the Company did not hold any investment securities. |
Basis of Measurement | e. Basis of measurement The financial statements have been prepared on the historical cost basis, except for the following material items in the statement of financial position: · All short-term investments including spot gold, spot silver and equity securities are considered Trading Securities · Short-term investments at fair value through gains or losses are measured at fair value |
Cash and Cash Equivalents | f. Cash and Cash Equivalents The financial statements are presented in US dollar, which is the Company’s functional currency. Cash and cash equivalents include cash on hand; cash in banks and brokerage accounts and all highly liquid investments with maturity of three months or less at the time purchase. The Company maintains its cash balance at a financial institution located in New York. Cash account at the New York institution are insured by the Federal Deposit Insurance Corporation up to $250,000. At times during the year, the cash balances may exceed the FDIC insurance limits. The following is a schedule of cash and cash equivalents at the year ended on September 30, 2019: Cash in Bank and brokerage accounts $141,312 |
Revenue Recognition | g. Revenue Recognition The Company recognizes revenues when earned. |
NOTE 2. SUMMARY OF SIGNIFICAN_3
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | Sep. 30, 2019 | Mar. 31, 2019 | Sep. 30, 2018 | Mar. 31, 2018 |
FDIC | $ 250,000 | |||
Cash in bank | $ 141,312 | $ 6,092 | $ 12,103 | $ 1,635 |
NOTE 4. SHORT TERM INVESTMENTS
NOTE 4. SHORT TERM INVESTMENTS (Details) - USD ($) | 6 Months Ended | |
Sep. 30, 2019 | Mar. 31, 2019 | |
Short term investments | $ 3,000 | $ 13,724 |
Singapore Silver [Member] | ||
Bullion Property (kg) | ||
Start Engine Crowfunding Inc [Member] | ||
Short term investments | $ 3,000 |
NOTE 5. STOCKHOLDERS EQUITY (D
NOTE 5. STOCKHOLDERS EQUITY (Details Narrative) - $ / shares | 6 Months Ended | |
Sep. 30, 2019 | Mar. 31, 2019 | |
Equity [Abstract] | ||
Common stock, par value | $ 0.01 | $ 0.001 |
Common stock, Authorized | 30,000,000 | 9,990,000 |
Common stock, Authorized increase | 20,010,000 |
NOTE 6. RELATED PARTY TRANSAC_2
NOTE 6. RELATED PARTY TRANSACTIONS (Details Narrative) | Sep. 09, 2019USD ($) |
Dazhong 368 [Member] | |
Common stock, shares issued | $ 10,010,000 |
Sophia 33, Inc [Member] | |
Common stock, shares issued | $ 10,000,000 |