Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Mar. 25, 2020 | Jun. 30, 2019 | |
Document and Entity Information [Abstract] | |||
Entity Registrant Name | Doers Education Asean Ltd | ||
Entity Central Index Key | 0001672885 | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2019 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Current Reporting Status | Yes | ||
Entity Shell Company | true | ||
Entity File Number | 000-55630 | ||
Entity Interactive Data Current | Yes | ||
Entity Incorporation State Country Code | DE | ||
Entity Public Float | $ 0 | ||
Entity Common Stock, Shares Outstanding | 20,390,000 |
Balance Sheets
Balance Sheets - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Current Assets | ||
Cash and cash equivalents | $ 3,374 | $ 6,989 |
Total Assets | 3,374 | 6,989 |
Current Liabilities | ||
Accrued liabilities | 7,250 | 4,175 |
Due to a related party | 94,869 | 79,899 |
Total Liabilities | 102,119 | 84,074 |
Stockholders' Deficit | ||
Preferred stock, $0.0001 par value 20,000,000 shares authorized; none issued and outstanding at December 31, 2019 and 2018, respectively | ||
Common stock, $0.0001 par value, 10,000,000,000 shares authorized; 20,390,000 and 20,390,000 shares issued and outstanding at December 31, 2019 and 2018, respectively | 2,039 | 2,039 |
Discount on common stock | (2,000) | (2,000) |
Additional paid-in capital | 1,606 | 1,606 |
Accumulated deficit | (100,390) | (78,730) |
Total stockholders' deficit | (98,745) | (77,085) |
Total Liabilities and Stockholders' Deficit | $ 3,374 | $ 6,989 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2019 | Dec. 31, 2018 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 20,000,000 | 20,000,000 |
Preferred stock, shares issued | ||
Preferred stock, shares outstanding | ||
Common stock, par value | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 10,000,000,000 | 10,000,000,000 |
Common stock, shares issued | 20,390,000 | 20,390,000 |
Common stock, shares outstanding | 20,390,000 | 20,390,000 |
Statements of Operations
Statements of Operations - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Income Statement [Abstract] | ||
Revenue | ||
Cost of Revenues | ||
Gross Profit | ||
Operating expenses | 21,668 | 23,706 |
Other Income | (8) | (21) |
Loss before income taxes | (21,660) | (23,685) |
Income Tax Expense | ||
Net loss | $ (21,660) | $ (23,685) |
Loss per share - basic and diluted | $ 0 | $ 0 |
Weighted average shares- basic and diluted | 20,390,000 | 20,433,836 |
Statements of Stockholders' Def
Statements of Stockholders' Deficit - USD ($) | Common Stock | Discount on Common Stock | Additional Paid-in Capital | Accumulated Deficit | Total |
Balance at Dec. 31, 2017 | $ 2,064 | $ (2,000) | $ 1,606 | $ (55,045) | $ (53,375) |
Balance, shares at Dec. 31, 2017 | 20,640,000 | ||||
Redemption of common stock | $ (25) | (25) | |||
Redemption of common stock, shares | (250,000) | ||||
Net loss | (23,685) | (23,685) | |||
Balance at Dec. 31, 2018 | $ 2,039 | (2,000) | 1,606 | (78,730) | (77,085) |
Balance, shares at Dec. 31, 2018 | 20,390,000 | ||||
Net loss | (21,660) | (21,660) | |||
Balance at Dec. 31, 2019 | $ 2,039 | $ (2,000) | $ 1,606 | $ (100,390) | $ (98,745) |
Balance, shares at Dec. 31, 2019 | 20,390,000 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
OPERATING ACTIVITIES | ||
Net loss | $ (21,660) | $ (23,685) |
Changes in Operating Assets and Liabilities: | ||
Accrued liabilities | 3,075 | (6,375) |
Net cash used in operating activities | (18,585) | (30,060) |
FINANCING ACTIVITIES | ||
Net proceeds from a related party | 14,970 | 37,010 |
Payments made to a stockholder to redeem common stock | (25) | |
Net cash provided by financing activities | 14,970 | 36,985 |
Net (decrease) increase in cash | (3,615) | 6,925 |
Cash, beginning of period | 6,989 | 64 |
Cash, end of period | 3,374 | 6,989 |
Cash paid during the period for: | ||
Income tax | ||
Interest |
Nature of Operations and Summar
Nature of Operations and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 1 - NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES NATURE OF OPERATIONS Doers Education Asean Limited (the "Company") was incorporated on April 4, 2016 under the laws of the state of Delaware to engage in any lawful corporate undertaking, including, but not limited to, selected mergers and acquisitions. The Company has been in the developmental stage since inception and its operations to date have been limited to issuing shares to its original stockholders. The Company will attempt to locate and negotiate with a business entity for the combination of that target company with the Company. The combination will normally take the form of a merger, stock-for-stock exchange or stock-for-assets exchange. In most instances the target company will wish to structure the business combination to be within the definition of a tax-free reorganization under Section 351 or Section 368 of the Internal Revenue Code of 1986, as amended. No assurances can be given that the Company will be successful in locating or negotiating with any target company. The Company has been formed to provide a method for a foreign or domestic private company to become a reporting company with a class of securities registered under the Securities Exchange Act of 1934. BASIS OF PRESENTATION The summary of significant accounting policies presented below is designed to assist in understanding the Company's financial statements. Such financial statements and accompanying notes are the representations of the Company's management, who are responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America ("GAAP") in all material respects and have been consistently applied in preparing the accompanying financial statements. USE OF ESTIMATES 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 periods. Actual results could differ from those estimates. CASH AND CASH EQUIVALENTS Cash and cash equivalents include cash on hand and on deposit at banking institutions as well as all highly liquid short-term investments with original maturities of 90 days or less. As of December 31, 2019 and 2018, the Company had cash on hand and in bank of $3,374 and $6,989, respectively. CONCENTRATION OF CREDIT RISK Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents. The Company maintains its cash in bank in Taiwan where the standard deposit insurance coverage limit is approximately $100,627 (NT$3 million). The Company's bank balance did not exceed the insured amounts as of December 31, 2019 and 2018, respectively. INCOME TAXES Under ASC 740, "Income Taxes," deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Valuation allowances are established when it is more likely than not that some or all of the deferred tax assets will not be realized. As of December 31, 2019 and 2018, there were no deferred taxes due to the uncertainty of the realization of net operating loss or carry forward prior to expiration. LOSS PER COMMON SHARE Basic loss per common share excludes dilution and is computed by dividing net loss with the weighted average number of common shares outstanding during the period. Diluted loss per common share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the loss of the entity. As of December 31, 2019 and 2018, there are no outstanding dilutive securities. FAIR VALUE OF FINANCIAL INSTRUMENTS The Company follows guidance for accounting for fair value measurements of financial assets and financial liabilities and for fair value measurements of nonfinancial items that are recognized or disclosed at fair value in the financial statements on a recurring basis. Additionally, the Company adopted guidance for fair value measurement related to nonfinancial items that are recognized and disclosed at fair value in the financial statements on a nonrecurring basis. The guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to measurements involving significant unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows: Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. The Company considers the recorded value of its financial assets and liabilities, which consist primarily of cash, accrued expenses and due to a related party to approximate the fair value of the respective assets and liabilities at December 31, 2019 and 2018 based upon the short-term nature of the assets and liabilities. RECENT ACCOUNTING PRONOUNCEMENTS The management believe the recently issued but not yet adopted accounting pronouncements will not have a material impact on its financial position results of operations or cash flows. |
Going Concern
Going Concern | 12 Months Ended |
Dec. 31, 2019 | |
Going Concern [Abstract] | |
GOING CONCERN | NOTE 2 - GOING CONCERN The Company has not yet generated any revenue since inception to date and has sustained operating loss of $21,660 and $23,685 during the years ended December 31, 2019 and 2018, respectively. The Company had a working capital deficit of $98,745 and an accumulated deficit of $100,390 as of December 31, 2019 and a working capital deficit of $77,085 and an accumulated deficit of $78,730 as of December 31, 2018. The Company's continuation as a going concern is dependent on its ability to generate sufficient cash flows from operations to meet its obligations and/or obtaining additional financing from its members or other sources, as may be required. The accompanying financial statements have been prepared assuming that the Company will continue as a going concern; however, the above condition raises substantial doubt about the Company's ability to do so. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern. In order to maintain its current level of operations, the Company will require additional working capital from either cash flow from operations or from the sale of its equity. However, the Company currently has no commitments from any third parties for the purchase of its equity. If the Company is unable to acquire additional working capital, it will be required to significantly reduce its current level of operations. |
Accrued Liabilities
Accrued Liabilities | 12 Months Ended |
Dec. 31, 2019 | |
Accrued Liabilities [Abstract] | |
ACCRUED LIABILITIES | NOTE 3 - ACCRUED LIABILITIES As of December 31, 2019 and 2018, the Company had accrued professional fees of $7,250 and $4,175, respectively. |
Due to a Related Party
Due to a Related Party | 12 Months Ended |
Dec. 31, 2019 | |
Related Party Transactions [Abstract] | |
DUE TO A RELATED PARTY | NOTE 4 - DUE TO A RELATED PARTY Due to a related party amounted to $94,869 and $79,899 as of December 31, 2019 and 2018 was due to Lin Wei-Hsien, the director and major stockholder of the Company. The amount due to related party is interest free, with no collateral, and due on demand. |
Stockholders' Deficit
Stockholders' Deficit | 12 Months Ended |
Dec. 31, 2019 | |
Equity [Abstract] | |
STOCKHOLDERS' DEFICIT | NOTE 5 - STOCKHOLDERS' DEFICIT The Company is authorized to issue 10,000,000,000 shares of common stock and 20,000,000 shares of preferred stock. On March 21, 2017, the Company increased its authorized shares of common stock from 100,000,000 shares to 10,000,000,000. On April 4, 2016, the Company issued 20,000,000 founders common stock to two directors and officers at par and at discount of $2,000. On July 24, 2016, the Company redeemed an aggregate of 19,500,000 of the then 20,000,000 shares of outstanding stock at a redemption price of $.0001 per share. On July 25, 2016, the Company issued 19,500,000 shares of its common stock pursuant to Section 4(2) of the Securities Act of 1933 at par and at a discount of $1,950 representing 97.5% of the total outstanding 19,000,000 shares of common stock to Lin Wei-Hsien and 500,000 shares to DazMc Securities. DazMc Securities works with Lin Wei-Hsien together as stockholders and management of the Company. On September 30, 2016, the Company issued 640,000 shares of its common stock to 38 stockholders for $64 at par value. On March 6, 2018, the Company repurchased 250,000 shares from its stockholder for $25. The 250,000 shares were cancelled. As of December 31, 2019, 20,390,000 shares of common stock and no preferred stock were issued and outstanding. |
Subsequent Event
Subsequent Event | 12 Months Ended |
Dec. 31, 2019 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENT | NOTE 6 - SUBSEQUENT EVENT Management has evaluated subsequent events through March 25, 2020, the date that the financial statements were issued. All subsequent events requiring recognition as of December 31, 2019 have been incorporated into these financial statements and there are no subsequent events that require disclosure in the financial statements. |
Nature of Operations and Summ_2
Nature of Operations and Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
NATURE OF OPERATIONS | NATURE OF OPERATIONS Doers Education Asean Limited (the "Company") was incorporated on April 4, 2016 under the laws of the state of Delaware to engage in any lawful corporate undertaking, including, but not limited to, selected mergers and acquisitions. The Company has been in the developmental stage since inception and its operations to date have been limited to issuing shares to its original stockholders. The Company will attempt to locate and negotiate with a business entity for the combination of that target company with the Company. The combination will normally take the form of a merger, stock-for-stock exchange or stock-for-assets exchange. In most instances the target company will wish to structure the business combination to be within the definition of a tax-free reorganization under Section 351 or Section 368 of the Internal Revenue Code of 1986, as amended. No assurances can be given that the Company will be successful in locating or negotiating with any target company. The Company has been formed to provide a method for a foreign or domestic private company to become a reporting company with a class of securities registered under the Securities Exchange Act of 1934. |
BASIS OF PRESENTATION | BASIS OF PRESENTATION The summary of significant accounting policies presented below is designed to assist in understanding the Company's financial statements. Such financial statements and accompanying notes are the representations of the Company's management, who are responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America ("GAAP") in all material respects and have been consistently applied in preparing the accompanying financial statements. |
USE OF ESTIMATES | USE OF ESTIMATES 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 periods. Actual results could differ from those estimates. |
CASH AND CASH EQUIVALENTS | CASH AND CASH EQUIVALENTS Cash and cash equivalents include cash on hand and on deposit at banking institutions as well as all highly liquid short-term investments with original maturities of 90 days or less. As of December 31, 2019 and 2018, the Company had cash on hand and in bank of $3,374 and $6,989, respectively. |
CONCENTRATION OF CREDIT RISK | CONCENTRATION OF CREDIT RISK Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents. The Company maintains its cash in bank in Taiwan where the standard deposit insurance coverage limit is approximately $100,627 (NT$3 million). The Company's bank balance did not exceed the insured amounts as of December 31, 2019 and 2018, respectively. |
INCOME TAXES | INCOME TAXES Under ASC 740, "Income Taxes," deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Valuation allowances are established when it is more likely than not that some or all of the deferred tax assets will not be realized. As of December 31, 2019 and 2018, there were no deferred taxes due to the uncertainty of the realization of net operating loss or carry forward prior to expiration. |
LOSS PER COMMON SHARE | LOSS PER COMMON SHARE Basic loss per common share excludes dilution and is computed by dividing net loss with the weighted average number of common shares outstanding during the period. Diluted loss per common share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the loss of the entity. As of December 31, 2019 and 2018, there are no outstanding dilutive securities. |
FAIR VALUE OF FINANCIAL INSTRUMENTS | FAIR VALUE OF FINANCIAL INSTRUMENTS The Company follows guidance for accounting for fair value measurements of financial assets and financial liabilities and for fair value measurements of nonfinancial items that are recognized or disclosed at fair value in the financial statements on a recurring basis. Additionally, the Company adopted guidance for fair value measurement related to nonfinancial items that are recognized and disclosed at fair value in the financial statements on a nonrecurring basis. The guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to measurements involving significant unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows: Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. The Company considers the recorded value of its financial assets and liabilities, which consist primarily of cash, accrued expenses and due to a related party to approximate the fair value of the respective assets and liabilities at December 31, 2019 and 2018 based upon the short-term nature of the assets and liabilities. |
RECENT ACCOUNTING PRONOUNCEMENTS | RECENT ACCOUNTING PRONOUNCEMENTS The management believe the recently issued but not yet adopted accounting pronouncements will not have a material impact on its financial position results of operations or cash flows. |
Nature of Operations and Summ_3
Nature of Operations and Summary of Significant Accounting Policies (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Nature of Operations and Summary of Significant Accounting Policies (Textual) | |||
Cash and cash equivalents | $ 3,374 | $ 6,989 | $ 64 |
Standard deposit insurance coverage limit | 100,627 | ||
NT [Member] | |||
Nature of Operations and Summary of Significant Accounting Policies (Textual) | |||
Standard deposit insurance coverage limit | $ 3,000,000 |
Going Concern (Details)
Going Concern (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Going Concern (Textual) | ||
Sustained operating loss | $ (21,660) | $ (23,685) |
Working capital deficit | 98,745 | 77,085 |
Accumulated deficit | $ (100,390) | $ (78,730) |
Accrued Liabilities (Details)
Accrued Liabilities (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Accrued Liabilities (Textual) | ||
Accrued professional fees | $ 7,250 | $ 4,175 |
Due to a Related Party (Details
Due to a Related Party (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Related Party Transactions [Abstract] | ||
Due to related party | $ 94,869 | $ 79,899 |
Stockholders' Deficit (Details)
Stockholders' Deficit (Details) - USD ($) | Mar. 06, 2018 | Apr. 04, 2016 | Mar. 21, 2017 | Jul. 25, 2016 | Jul. 24, 2016 | Dec. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2016 |
Class of Stock [Line Items] | ||||||||
Common stock, shares authorized | 10,000,000,000 | 10,000,000,000 | ||||||
Preferred stock, shares authorized | 20,000,000 | 20,000,000 | ||||||
Common stock, shares issued | 19,500,000 | 20,390,000 | 20,390,000 | |||||
Common stock, shares outstanding | 20,390,000 | 20,390,000 | ||||||
Repurchased shares from shareholders | 250,000 | |||||||
Repurchased value from shareholders | $ 25 | |||||||
Shares canceled | 250,000 | |||||||
Discount | $ 1,950 | |||||||
Aggregate redeemed shares | 19,500,000 | |||||||
Redemption price, per share | $ / shares | $ 0.0001 | |||||||
Redeemed, shares outstanding | 20,000,000 | |||||||
Percentage of common stock, shares outstanding | 97.50% | |||||||
Common stock, par value | $ 0.0001 | $ 0.0001 | ||||||
Director And Officers [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Founders common stock issued | $ 20,000,000 | |||||||
Discount | $ 2,000 | |||||||
DazMc Securities [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Common stock, shares issued | 500,000 | |||||||
Lin Wei-Hsien [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Common stock, shares issued | 19,000,000 | |||||||
Shareholder [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Common stock, shares issued | 640,000 | |||||||
Common stock, par value | $ 64 | |||||||
Minimum [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Increase in authorized shares of common stock | 100,000,000 | |||||||
Maximum [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Increase in authorized shares of common stock | 10,000,000,000 |