Cover
Cover - shares | 9 Months Ended | |
Dec. 31, 2021 | Feb. 04, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Dec. 31, 2021 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2022 | |
Current Fiscal Year End Date | --03-31 | |
Entity File Number | 000-56157 | |
Entity Registrant Name | Achison Inc | |
Entity Central Index Key | 0001672571 | |
Entity Tax Identification Number | 47-2643986 | |
Entity Incorporation, State or Country Code | NY | |
Entity Address, Address Line One | 135-22 Northern Blvd. | |
Entity Address, Address Line Two | 2nd Fl | |
Entity Address, City or Town | Flushing | |
Entity Address, State or Province | NY | |
Entity Address, Postal Zip Code | 11354 | |
City Area Code | (917) | |
Local Phone Number | 470-5393 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Elected Not To Use the Extended Transition Period | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 29,995,000 |
Condensed Balance Sheets
Condensed Balance Sheets - USD ($) | Dec. 31, 2021 | Mar. 31, 2021 |
ASSETS | ||
Cash and cash equivalents | $ 15,494 | $ 17,496 |
Notes receivable, net | 50,863 | |
Total Current Assets | 15,494 | 68,359 |
Property and equipment, net | 886 | |
TOTAL ASSETS | 16,380 | 68,359 |
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
Account payable | 5,000 | |
Deferred revenue | 3,200 | 3,400 |
Total Current Liability | 8,200 | 3,400 |
Shareholder loans | 54,000 | 71,000 |
Total Noncurrent Liabilities | 54,000 | 71,000 |
Total liabilities | 62,200 | 74,400 |
STOCKHOLDERS’ EQUITY(DEFICIT): | ||
Preferred stock ($0.001 par value, 20,000,000 shares authorized; no share issued and outstanding as of December 31 and March 31, 2021) | ||
Class A common stock ($0.001 par value, 100,000,000 shares authorized, 29,995,000 shares issued and outstanding as of December 31 and March 31, 2021) | 29,995 | 29,995 |
Additional Paid in Capital | 160,230 | 160,230 |
Accumulated Deficit | (236,045) | (196,266) |
Total Stockholders’ Deficit | (45,820) | (6,041) |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 16,380 | $ 68,359 |
Condensed Balance Sheets (Paren
Condensed Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2021 | Mar. 31, 2021 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 20,000,000 | 20,000,000 |
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 | 29,995,000 | 29,995,000 |
Common stock, shares outstanding | 29,995,000 | 29,995,000 |
Condensed Statements of Operati
Condensed Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | |
Income Statement [Abstract] | ||||
Revenue | $ 1,400 | $ 1,600 | $ 5,000 | $ 2,000 |
Cost of revenue | 500 | 500 | 1,100 | 800 |
Gross Profit | 900 | 1,100 | 3,900 | 1,200 |
Operating Expenses | ||||
General and administrative expenses | 20,210 | 13,820 | 45,253 | 66,439 |
Total Operating Expenses | 20,210 | 13,820 | 45,253 | 66,439 |
Other income | ||||
Interest income | 882 | 1,574 | 4,564 | |
Other income | 1,000 | |||
Total other income, net | 882 | 1,574 | 5,564 | |
Net loss | $ (19,310) | $ (11,838) | $ (39,779) | $ (59,675) |
Loss per share, basic and diluted | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted average number of shares outstanding, basic and diluted | 29,995,000 | 29,995,000 | 29,995,000 | 29,995,000 |
Condensed Statements of Changes
Condensed Statements of Changes in Stockholder's Equity (Unaudited) - USD ($) | Common Stock [Member]Common Class A [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Beginning balance at Mar. 31, 2020 | $ 29,995 | $ 160,230 | $ (129,754) | $ 60,471 |
Beginning balance, share at Mar. 31, 2020 | 29,995,000 | |||
Net loss | (59,675) | (59,675) | ||
Ending balance at Dec. 31, 2020 | $ 29,995 | 160,230 | (189,429) | 796 |
Ending balance, share at Dec. 31, 2020 | 29,995,000 | |||
Beginning balance at Mar. 31, 2021 | $ 29,995 | 160,230 | (196,266) | (6,041) |
Beginning balance, share at Mar. 31, 2021 | 29,995,000 | |||
Net loss | (39,779) | (39,779) | ||
Ending balance at Dec. 31, 2021 | $ 29,995 | $ 160,230 | $ (236,045) | $ (45,820) |
Ending balance, share at Dec. 31, 2021 | 29,995,000 |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (39,779) | $ (59,675) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation expense | 64 | |
Changes in assets and liabilities | ||
Accrued interest income on note receivable | (1,574) | |
Account payable | 5,000 | |
Deferred revenue | (200) | 5,200 |
Net cash used in operating activities | (36,489) | (54,475) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Proceeds from collection of notes receivables | 52,437 | 20,000 |
Purchase of property and equipment | (950) | |
Net cash provided by investing activities | 51,487 | 20,000 |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Repayment to shareholder loan | (17,000) | |
Net cash provided by financing activities | (17,000) | |
Net increase (decrease) in Cash | (2,002) | (34,475) |
Cash at beginning of period: | 17,496 | 61,471 |
Cash at end of period: | 15,494 | 26,996 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | ||
Interest expense | ||
Tax expense |
ORGANIZATION AND DESCRIPTION OF
ORGANIZATION AND DESCRIPTION OF BUSINESS | 9 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
ORGANIZATION AND DESCRIPTION OF BUSINESS | ORGANIZATION AND DESCRIPTION OF BUSINESS Achison Inc, the Company, incorporated in the State of New York December 29, 2014 On July 1, 2019 Lansdale Inc, the principal stockholder of the Company (“Seller”) and controlled by the Company’s prior President, Mr. Wanjun Xie, entered into a Stock Purchase Agreement (the “Agreement”) with Dazhong 368 Inc, (the “Buyer”), pursuant to which, a total of 9,000,000 90% |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Preparation In the opinion of management, the unaudited interim condensed financial statements reflect all adjustments of a normal recurring nature that are necessary for a fair presentation of the results for the interim periods presented. However, the results of operations included in such financial statements may not necessary be indicative of annual results. The Company uses the same accounting policies in preparing quarterly and annual financial statements. Certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted. These unaudited condensed financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended March 31, 2021 filed with the Securities and Exchange Commission (“SEC”) on May 25, 2021 (“2020 Form 10-K.”) Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make certain estimates and assumptions that affect the reported amounts and timing of revenues and expenses, the reported amounts and classification of assets and liabilities, and the disclosure of contingent assets and liabilities. Significant areas requiring the use of estimates are assessing the collectability of notes receivable. These estimates and assumptions are based on the Company’s historical results as well as management’s future expectations. The Company’s actual results may vary from those estimates and assumptions. Revenue recognition The Company generates revenue primarily by delivering advertisement at our website: www.Dazhong368.com for local businesses. Revenues are recognized when control of the promised goods or services is transferred to our customers, and the collectibility of an amount that we expect in exchange for those goods or services is probable. Sales and other similar taxes are excluded from revenues. Revenue is recognized when advertisement is displayed in our website each month during the contract term. |
GOING CONCERN ASSESSMENT
GOING CONCERN ASSESSMENT | 9 Months Ended |
Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN ASSESSMENT | NOTE 3 – GOING CONCERN ASSESSMENT The Company demonstrates adverse conditions that raise substantial doubt about the Company’s ability to continue as a going concern. These adverse conditions are negative financial trends, specifically cash outflow from operating activities, operating losses, accumulated deficit and other adverse key financial ratios. Management’s plan to alleviate the substantial doubt about the Company’s ability to continue as a going concern include attempting to improve its business profitability, its ability to generate sufficient cash flow from its operations to meet its operating needs on a timely basis, obtain additional working capital funds from the majority shareholder and President of the Company to eliminate inefficiencies in order to meet its anticipated cash requirements. However, there can be no assurance that these plans and arrangements will be sufficient to fund the Company’s ongoing capital expenditures and other requirements. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary in the event that the Company cannot continue as a going concern. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 9 Months Ended |
Dec. 31, 2021 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 4 - RELATED PARTY TRANSACTIONS The Company has been provided office space by its President at no cost. The management determined that such cost is immaterial and did not recognize the rent expense in its financial statements. In August 2019, the Company borrowed $ 71,000 from the President of the Company, bearing no interest and due in December 2021 . During the three months ended December 31, 2021, the Company repaid $ 17,000 to the President of the Company. As of December 31, 2021, the balance was $ 54,000 . On December 29, 2021, the Company and our President entered into the first amendment for the loan balance and both agreed to extend the maturity date to December 31, 2022 . |
NOTES RECEIVABLE
NOTES RECEIVABLE | 9 Months Ended |
Dec. 31, 2021 | |
Receivables [Abstract] | |
NOTES RECEIVABLE | NOTE 5 – NOTES RECEIVABLE During the year ended March 31, 2020, the Company loaned to Northern Ifurniture Inc in the amount of $ 70,000 7% December 2, 2020 20,000 1,574 4,564 |
DEFERRED REVENUE
DEFERRED REVENUE | 9 Months Ended |
Dec. 31, 2021 | |
Revenue from Contract with Customer [Abstract] | |
DEFERRED REVENUE | NOTE 6 – DEFERRED REVENUE Deferred revenue represented advances received from the customers for advertisement service hosted at the Company’s website: www.Dazhong368.com. SCHEDULE OF DEFERRED REVENUE 2021 2020 Nine Months ended December 31, 2021 2020 Beginning balance 3,400 - Additions 4,800 7,200 Recognized revenue (5,000 ) (2,000 ) Ending balance 3,200 5,200 |
SHAREHOLDER EQUITY
SHAREHOLDER EQUITY | 9 Months Ended |
Dec. 31, 2021 | |
Equity [Abstract] | |
SHAREHOLDER EQUITY | NOTE 7 – SHAREHOLDER EQUITY On October 11, 2021, the Company amended its article with New York State to increase the authorized Class A common shares with a par value of $ 0.001 100,000,000 20,000,000 0.001 |
SUBSEQUENT EVENT
SUBSEQUENT EVENT | 9 Months Ended |
Dec. 31, 2021 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENT | NOTE 8 – SUBSEQUENT EVENT The Company has evaluated all other subsequent events through the date the financial statements were issued and determine that there were no subsequent events or transactions that require recognition or disclosures in the financial statements. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Basis of Preparation | Basis of Preparation In the opinion of management, the unaudited interim condensed financial statements reflect all adjustments of a normal recurring nature that are necessary for a fair presentation of the results for the interim periods presented. However, the results of operations included in such financial statements may not necessary be indicative of annual results. The Company uses the same accounting policies in preparing quarterly and annual financial statements. Certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted. These unaudited condensed financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended March 31, 2021 filed with the Securities and Exchange Commission (“SEC”) on May 25, 2021 (“2020 Form 10-K.”) |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make certain estimates and assumptions that affect the reported amounts and timing of revenues and expenses, the reported amounts and classification of assets and liabilities, and the disclosure of contingent assets and liabilities. Significant areas requiring the use of estimates are assessing the collectability of notes receivable. These estimates and assumptions are based on the Company’s historical results as well as management’s future expectations. The Company’s actual results may vary from those estimates and assumptions. |
Revenue recognition | Revenue recognition The Company generates revenue primarily by delivering advertisement at our website: www.Dazhong368.com for local businesses. Revenues are recognized when control of the promised goods or services is transferred to our customers, and the collectibility of an amount that we expect in exchange for those goods or services is probable. Sales and other similar taxes are excluded from revenues. Revenue is recognized when advertisement is displayed in our website each month during the contract term. |
DEFERRED REVENUE (Tables)
DEFERRED REVENUE (Tables) | 9 Months Ended |
Dec. 31, 2021 | |
Revenue from Contract with Customer [Abstract] | |
SCHEDULE OF DEFERRED REVENUE | Deferred revenue represented advances received from the customers for advertisement service hosted at the Company’s website: www.Dazhong368.com. SCHEDULE OF DEFERRED REVENUE 2021 2020 Nine Months ended December 31, 2021 2020 Beginning balance 3,400 - Additions 4,800 7,200 Recognized revenue (5,000 ) (2,000 ) Ending balance 3,200 5,200 |
ORGANIZATION AND DESCRIPTION _2
ORGANIZATION AND DESCRIPTION OF BUSINESS (Details Narrative) - shares | Jul. 01, 2019 | Dec. 31, 2021 |
Entity incorporation state code | NY | |
Date of incorporation | Dec. 29, 2014 | |
Dazhong 368 Inc [Member] | ||
Share issue for acqusition of Class A common stock | 9,000,000 | |
Ownership percentage by parent | 90.00% |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | Oct. 15, 2021 | Aug. 31, 2019 | Dec. 31, 2021 | Mar. 31, 2021 |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||||
Due to Officers or Stockholders, Noncurrent | $ 54,000 | $ 71,000 | ||
Repayments of Related Party Debt | 17,000 | |||
President [Member] | ||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||||
Due to Officers or Stockholders, Noncurrent | $ 71,000 | $ 54,000 | ||
Debt Instrument, Maturity Date, Description | December 2021 | |||
Repayments of Related Party Debt | $ 17,000 | |||
Debt Instrument, Maturity Date | Dec. 31, 2022 |
NOTES RECEIVABLE (Details Narra
NOTES RECEIVABLE (Details Narrative) - USD ($) | Jun. 26, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | Mar. 31, 2021 |
Notes receivable | $ 50,863 | ||||
Northern Ifurniture Inc [Member] | |||||
Notes receivable | $ 70,000 | ||||
Interest rate | 7.00% | ||||
Maturity date | Dec. 2, 2020 | ||||
Proceeds from repayment of note receviable | $ 20,000 | ||||
Interest income | $ 1,574 | $ 4,564 |
SCHEDULE OF DEFERRED REVENUE (D
SCHEDULE OF DEFERRED REVENUE (Details) - USD ($) | 9 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Revenue from Contract with Customer [Abstract] | ||
Beginning balance | $ 3,400 | |
Additions | 4,800 | 7,200 |
Recognized revenue | (5,000) | (2,000) |
Ending balance | $ 3,200 | $ 5,200 |
SHAREHOLDER EQUITY (Details Nar
SHAREHOLDER EQUITY (Details Narrative) - $ / shares | Dec. 31, 2021 | Oct. 11, 2021 | Mar. 31, 2021 |
Class of Stock [Line Items] | |||
Common stock, par value | $ 0.001 | $ 0.001 | |
Common stock, shares authorized | 100,000,000 | 100,000,000 | |
Preferred stock, shares authorized | 20,000,000 | 20,000,000 | |
Preferred stock, par value | $ 0.001 | $ 0.001 | |
Common Class A [Member] | |||
Class of Stock [Line Items] | |||
Common stock, par value | $ 0.001 | ||
Common stock, shares authorized | 100,000,000 | ||
Preferred stock, shares authorized | 20,000,000 | ||
Preferred stock, par value | $ 0.001 |