Cover
Cover - shares | 3 Months Ended | |
Jun. 30, 2022 | Aug. 12, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Jun. 30, 2022 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2023 | |
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 |
Balance Sheet
Balance Sheet - USD ($) | Jun. 30, 2022 | Mar. 31, 2022 |
Current assets | ||
Cash and cash equivalents | $ 1,439 | $ 14,269 |
Total current assets | 1,439 | 14,269 |
Property and equipment, net | 775 | 854 |
TOTAL ASSETS | 2,214 | 15,123 |
Current liabilities | ||
Contract liabilities | 3,200 | 5,600 |
Loan from a shareholder | 61,000 | 59,000 |
Accrued expense | 8,596 | |
Total current liabilities | 72,796 | 64,600 |
TOTAL LIABILITIES | 72,796 | 64,600 |
COMMITMENTS AND CONTINGENCIES | ||
STOCKHOLDERS EQUITY | ||
Preferred stock: $0.001 par value, 20,000,000 shares authorized; no share issued and outstanding | ||
Class A Common stock, $0.001 par value, 100,000,000 authorized, 29,995,000 shares issued and outstanding | 29,995 | 29,995 |
Additional paid-in capital | 160,230 | 160,230 |
Accumulated deficit | (260,807) | (239,702) |
TOTAL STOCKHOLDERS’ DEFICIT | (70,582) | (49,477) |
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT | $ 2,214 | $ 15,123 |
Balance Sheet (Parenthetical)
Balance Sheet (Parenthetical) - $ / shares | Jun. 30, 2022 | Mar. 31, 2022 |
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 |
Class A Common stock, par value | $ 0.001 | $ 0.001 |
Class A Common stock, shares authorized | 100,000,000 | 100,000,000 |
Class A Common stock, shares issued | 29,995,000 | 29,995,000 |
Class A Common stock, shares outstanding | 29,995,000 | 29,995,000 |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Income Statement [Abstract] | ||
Revenue | $ 2,400 | $ 1,800 |
Gross profit | 2,400 | 1,800 |
Operating expenses: | ||
General and administrative | 23,505 | 16,211 |
Total operating expenses | 23,505 | 16,211 |
Loss from operations | (21,105) | (14,411) |
Other income (expenses): | ||
Interest income | 873 | |
Total other income, net | 873 | |
Loss before income tax | (21,105) | (13,538) |
Income tax expense | ||
Net loss | $ (21,105) | $ (13,538) |
Weighted average shares outstanding: | ||
Basic and diluted | 29,995,000 | 29,995,000 |
Loss per share attributable to common parent’s shareholders: | ||
Basic and diluted | $ 0 | $ 0 |
Statements of Changes in Stockh
Statements of Changes in Stockholder's Deficit (Unaudited) - USD ($) | Preferred Stock [Member] | Common Stock [Member] Common Class A [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Mar. 31, 2021 | $ 29,995 | $ 160,230 | $ (196,266) | $ (6,041) | |
Beginning balance, shares at Mar. 31, 2021 | 29,995,000 | ||||
Net loss | (13,538) | (13,538) | |||
Ending balance, value at Jun. 30, 2021 | $ 29,995 | 160,230 | (209,804) | (19,579) | |
Ending balance, shares at Jun. 30, 2021 | 29,995,000 | ||||
Beginning balance, value at Mar. 31, 2022 | $ 29,995 | 160,230 | (239,702) | (49,477) | |
Beginning balance, shares at Mar. 31, 2022 | 29,995,000 | ||||
Net loss | (21,105) | (21,105) | |||
Ending balance, value at Jun. 30, 2022 | $ 29,995 | $ 160,230 | $ (239,702) | $ (70,582) | |
Ending balance, shares at Jun. 30, 2022 | 29,995,000 |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (21,105) | $ (13,538) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation expense | 79 | |
Changes in assets and liabilities: | ||
Accrued expense | 8,596 | |
Accrued interest income on note receivable | (873) | |
Deferred Revenue | (2,400) | (1,800) |
Net cash used in operating activities | (14,830) | (16,211) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Repayment of shareholder loan | 2,000 | |
Net cash provided by financing activities | 2,000 | |
Net decrease in cash | (12,830) | (16,211) |
Cash at beginning of period: | 14,629 | 17,496 |
Cash at end of period: | 1,439 | 1,285 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | ||
Interest paid | ||
Income taxes paid |
ORGANIZATION AND PRINCIPAL ACTI
ORGANIZATION AND PRINCIPAL ACTIVITIES | 3 Months Ended |
Jun. 30, 2022 | |
Accounting Policies [Abstract] | |
ORGANIZATION AND PRINCIPAL ACTIVITIES | NOTE 1 – ORGANIZATION AND PRINCIPAL ACTIVITIES Achison Inc. (the “Company”) was incorporated under the laws of the State of New York on 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 Prior to July of 2019 the Company primarily engaged in trading spot gold and silver in Singapore Markets, crypto currency and US equity stocks. The Company currently engages only in internet advertising through www.dazhong368.com (the “Website”) in the New York area and has plans to seek other profitable business at the same time. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended |
Jun. 30, 2022 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation 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, 2022 filed with the Securities and Exchange Commission (“SEC”) on June 28, 2022 (“2021 Form 10-K.”) Use of Estimates The accompanying financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (the “SEC”). The preparation of the Company’s financial statements in conformity with GAAP requires management to make estimates, judgments and assumptions that affect the amounts reported in the financial statements and footnotes thereto. Actual results may differ from those estimates and assumptions. Revenue Recognition Revenue is recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. The Company determines revenue recognition by applying the following steps: 1) identification of the contract, or contracts, with a customer; 2) identification of the performance obligations in the contract; 3) determination of the transaction price; 4) allocation of the transaction price to the performance obligations in the contract; and 5) recognition of revenue when, or as, we satisfy a performance obligation. Advertising revenue is generated by displaying advertising products on the Website. The Company recognizes revenue from the display of impression-based advertisements in the contracted period in which the impressions are delivered. Impressions are considered delivered when an advertisement is displayed to users. In general, the Company presents advertising revenue on a gross basis, since the Company controls the advertising inventory before it is transferred to its customers. Control of advertisement inventory is evidenced by the Company’s sole ability to monetize the advertising inventory before it is transferred to our customers. Pricing for our services is generally a fixed amount and is typically due within 30 days upon signing the contract with customers. Unsatisfied performance obligations under advertising contracts are recorded as contract liabilities. Accounting Standards Issued but Not Yet Adopted Credit Losses In June 2016, the FASB issued ASU No. 2016-13, (Topic 326), Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments which amends the current accounting guidance and requires the use of the new forward-looking “expected loss” model, rather than the “incurred loss” model, which requires all expected losses to be determined based on historical experience, current conditions and reasonable and supportable forecasts. This guidance amends the accounting for credit losses for most financial assets and certain other instruments including trade and other receivables, held-to-maturity debt securities, loans and other instruments. In November 2019, the FASB issued ASU No. 2019-10 to postpone the effective date of ASU No. 2016-13 for public business entities eligible to be smaller reporting companies (SRCs) as defined by the SEC. ASU No. 2016-13 is effective for SRCs for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company is evaluating the impact of the adoption of ASU 2016-13 on its financial position and results of operations. There were other updates recently issued. The management does not believe that other than disclosed above, accounting pronouncements the recently issued but not yet adopted will have a material impact on its financial position results of operations or cash flows. |
GOING CONCERN
GOING CONCERN | 3 Months Ended |
Jun. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN | NOTE 3 – GOING CONCERN The Company’s financial statements have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities and commitments in the normal course of business. During the three months ended June 30, 2022, the Company incurred a net loss of $ 21,105 260,807 71,357 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 | 3 Months Ended |
Jun. 30, 2022 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 4 – RELATED PARTY TRANSACTIONS Lease 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. Loan In August 2019, the Company borrowed $71,000 December 2021. $17,000 5,000 December 31, 2022. In June 2022, the Company borrowed $ 2,000 December 31, 2022 61,000 59,000 |
INCOME TAX
INCOME TAX | 3 Months Ended |
Jun. 30, 2022 | |
Income Tax Disclosure [Abstract] | |
INCOME TAX | NOTE 5 – INCOME TAX The Company has not recognized an income tax benefit for its operating losses generated based on uncertainties concerning its ability to generate taxable income in future periods. The tax benefit for the period presented is offset by a valuation allowance established against deferred tax assets arising from the net operating losses, the realization of which could not be considered more likely than not. In future periods, tax benefits and related deferred tax assets will be recognized when management considers realization of such amounts to be more likely than not. For the three months ended June 30, 2022 and March 31, 2022, the Company has incurred a net loss before tax of $ 21,105 43,436 31,323 11,945 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 3 Months Ended |
Jun. 30, 2022 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 6 – SUBSEQUENT EVENTS The Company evaluated all events or transactions that occurred after June 30, 2022 through the date the financial statements were available to be issued. During the period, the Company did not have any material recognizable subsequent events required to be disclosed or adjusted as of and for the three months ended June 30, 2022. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 3 Months Ended |
Jun. 30, 2022 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation 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, 2022 filed with the Securities and Exchange Commission (“SEC”) on June 28, 2022 (“2021 Form 10-K.”) |
Use of Estimates | Use of Estimates The accompanying financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (the “SEC”). The preparation of the Company’s financial statements in conformity with GAAP requires management to make estimates, judgments and assumptions that affect the amounts reported in the financial statements and footnotes thereto. Actual results may differ from those estimates and assumptions. |
Revenue Recognition | Revenue Recognition Revenue is recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. The Company determines revenue recognition by applying the following steps: 1) identification of the contract, or contracts, with a customer; 2) identification of the performance obligations in the contract; 3) determination of the transaction price; 4) allocation of the transaction price to the performance obligations in the contract; and 5) recognition of revenue when, or as, we satisfy a performance obligation. Advertising revenue is generated by displaying advertising products on the Website. The Company recognizes revenue from the display of impression-based advertisements in the contracted period in which the impressions are delivered. Impressions are considered delivered when an advertisement is displayed to users. In general, the Company presents advertising revenue on a gross basis, since the Company controls the advertising inventory before it is transferred to its customers. Control of advertisement inventory is evidenced by the Company’s sole ability to monetize the advertising inventory before it is transferred to our customers. Pricing for our services is generally a fixed amount and is typically due within 30 days upon signing the contract with customers. Unsatisfied performance obligations under advertising contracts are recorded as contract liabilities. |
Accounting Standards Issued but Not Yet Adopted | Accounting Standards Issued but Not Yet Adopted Credit Losses In June 2016, the FASB issued ASU No. 2016-13, (Topic 326), Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments which amends the current accounting guidance and requires the use of the new forward-looking “expected loss” model, rather than the “incurred loss” model, which requires all expected losses to be determined based on historical experience, current conditions and reasonable and supportable forecasts. This guidance amends the accounting for credit losses for most financial assets and certain other instruments including trade and other receivables, held-to-maturity debt securities, loans and other instruments. In November 2019, the FASB issued ASU No. 2019-10 to postpone the effective date of ASU No. 2016-13 for public business entities eligible to be smaller reporting companies (SRCs) as defined by the SEC. ASU No. 2016-13 is effective for SRCs for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company is evaluating the impact of the adoption of ASU 2016-13 on its financial position and results of operations. There were other updates recently issued. The management does not believe that other than disclosed above, accounting pronouncements the recently issued but not yet adopted will have a material impact on its financial position results of operations or cash flows. |
ORGANIZATION AND PRINCIPAL AC_2
ORGANIZATION AND PRINCIPAL ACTIVITIES (Details Narrative) - shares | 3 Months Ended | |
Jul. 01, 2019 | Jun. 30, 2022 | |
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% |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | 3 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Mar. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
Net loss | $ 21,105 | $ 13,538 | |
Accumulated deficit | 260,807 | $ 239,702 | |
Negative working capital | $ 71,357 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | |||
Dec. 29, 2021 | May 31, 2021 | Jun. 30, 2022 | Aug. 31, 2019 | Mar. 31, 2022 | |
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||||
Borrowings | $ 61,000 | $ 59,000 | |||
President [Member] | |||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||||
Borrowings | $ 2,000 | $ 71,000 | |||
Amendment maturity date | December 31, 2022. | December 2021. | |||
Repayments of related party debt | $ 17,000 | ||||
Proceeds from related party | $ 5,000 | ||||
Debt Instrument, Maturity Date | Dec. 31, 2022 |
INCOME TAX (Details Narrative)
INCOME TAX (Details Narrative) - USD ($) | 3 Months Ended | 12 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | Mar. 31, 2022 | |
Income Tax Disclosure [Abstract] | |||
Loss before income tax | $ 21,105 | $ 13,538 | $ 43,436 |
Net operating loss | $ 31,323 | $ 11,945 |