Hawk Street Acquisition 10-Q 21 Nov 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 14, 2017
Document Information [Line Items]
Entity Registrant Name	Hawk Street Acquisition Corp
Entity Central Index Key	1,681,302
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		5,500,000
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Balance Sheets (Curre

Condensed Balance Sheets (Current Period Unaudited) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents
Total assets
Current Liabilities:
Accrued Liabilities	3,000	5,750
Loan from related party	1,500
Total liabilities	4,500	5,750
Stockholders' Equity:
Preferred stock, $0.0001 par value 20,000,000 shares authorized; none issued and outstanding at September 30, 2017 and December 31, 2016, respectively.
Common Stock, $0.0001 par value, 100,000,000 shares authorized; 5,500,000 and 20,000,000 shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively.	550	2,000
Discount on common stock	(500)
Additional paid-in capital	4,662	312
Accumulated deficit	(9,212)	(8,062)
Total stockholders' deficit	(4,500)	(5,750)
Total liabilities and stockholders' equity

Condensed Balance Sheets (Curr3

Condensed Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2017	Dec. 31, 2016
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	20,000,000	20,000,000
Preferred stock. shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	5,500,000	20,000,000
Common stock, shares outstanding (in shares)	5,500,000	20,000,000

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($)	2 Months Ended	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2017
Revenues
Cost of revenues
Gross profit
Operating expenses	3,562	1,500	4,900
Operating loss	(3,562)	(1,500)	(4,900)
Other income			3,750
Income before income taxes	(3,562)	(1,500)	(1,150)
Income tax expense
Net loss	$ (3,562)	$ (1,500)	$ (1,150)
Earnings per share, basic and diluted (in dollars per share)	$ 0	$ 0	$ 0
Weighted average shares, basic and diluted (in shares)	20,000,000	5,500,000	8,562,271

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	2 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2017
OPERATING ACTIVITIES
Net loss	$ (3,562)	$ (1,150)
Non-cash adjustments to reconcile net income to net cash:
Reversal for relief of accrued professional fees		(3,750)
Expenses paid for by stockholder and contributed as capital	312	2,400
Common stock issued for service	2,000
Changes in operating assets and liabilities:
Accrued liabilities	1,250	1,000
Net cash used in operating activities		(1,500)
FINANCING ACTIVITIES
Proceeds from Related Party Debt		1,500
Net cash provided by financing activities		1,500
Net change in cash
Cash, beginning of period
Cash, end of period
Cash paid during the period for:
Income tax
Interest
Non-cash investing and financial activities:
Common stock issued to officers for no consideration		500
Redemption of common shares in connection with change in control		$ 1,950

Note 1 - Nature of Operations a

Note 1 - Nature of Operations and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Nature of Operations and Accounting Policies Disclosure [Text Block]	NOTE 1 NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES NATURE OF OPERATIONS Hawk Street Acquisition Corporation (the "Company") was incorporated on July 22, 2016, not 351 368 1986, No 1934. BASIS OF PRESENTATION The summary of significant accounting policies presented below is designed to assist in understanding the Company's unaudited condensed financial statements. Such unaudited condensed 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 unaudited condensed financial statements. Certain information and footnote disclosures normally present in annual financial statements prepared in accordance with accountin g principles generally accepted in the United States of America ("U.S. GAAP") were omitted pursuant to such rules and regulations. The results for the three nine September 30, 2017 not December 31, 2017. USE OF ESTIMATES The preparation of unaudited condensed financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilitie s and disclosure of contingent assets and liabilities at the date of the condensed financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. CASH 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 not September 30, 2017 December 31, 2016, CONCENTRATION OF RISK Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash. The Company places its cash with high quality banking institutions. The Company did not cash balances in excess of the Federal Deposit Insurance Corporation limit as of September 30, 2017 December 31, 2016, INCOME TAXES Under ASC 740, nsequences 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 not September 30, 2017, December 31, 2016, no EARNINGS PER SHARE Basic earnings per common share is calculated by dividing the net income by the weighted average shares outstanding during the period. Diluted earnings per share adds to the basic calculation any dilutive shares in the denominator. Basic loss per common share excludes dilution and is computed by dividing net loss by 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 September 30, 2017, December 31, 2016, no 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 una udited condensed 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 unaudited condensed 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 3 three Level 1 in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2 1 rectly or indirectly. Level 3 The carrying amounts of financial assets such as cash approximate their fair values because of the short maturity of these instruments. RECENT ACCOUNTING PRONOUNCE MENTS On November 20, 2015, 2015 17 Taxes. The Board is issuing this Update as part of its initiative to reduce complexity in accounting standards (the Simplification Initiative). The objective of the Simplification Initiative is to identify, evaluate, and improve areas of generally accepted accounting principles (GAAP) for which cost and complexity can be reduced while maintaining or improving the usefulness of the information provided to users of financial statements. Current GAAP requires an entity to separate deferred income tax liabilities and assets into current and noncurrent amounts in a classified statement of financial position. To simplify the presentation of deferred income taxes, the amendments in this Update require that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The amendments in this Update apply to all entities that present a classified statement of financial position. The current requirement that deferred tax liabilities and assets of a tax-paying component of an entity be offset and presented as a single amount is not December 15, 2016, In November 2016, No. 2016 18, 230 2016 18" The new guidance is intended to reduce diversity in practice by adding or clarifying guidance on classification and presentation of changes in restricted cash on the statement of cash flows. ASU 2016 18 December 15, 2017. 2016 18, In August 2016, No. 2016 15, 230 presented and classified in the statement of cash flows". The amendments provide guidance on the following eight 1 2 3 4 5 6 7 December 15, 2017, In August 2014, No. 2014 15, tatements Going Concern (Subtopic 205 40 December 15, 2016, December 15, 2016. not

Note 2 - Going Concern

Note 2 - Going Concern	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Substantial Doubt about Going Concern [Text Block]	NOTE 2 GOING CONCERN The Company has not date and has sustained operating loss of $4,900 nine September 30, 2017. $4,500 $9,212 September 30, 2017 $5,750 $8,062 December 31, 2016. may The accompanying unaudited condensed 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 abil ity to do so. The unaudited condensed financial statements do not may 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 third Company is unable to acquire additional working capital, it will be required to significantly reduce its current level of operations.

Note 3 - Loan From Related Part

Note 3 - Loan From Related Party	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	NOTE 3 RELATED PARTY During the second 2017, $1,500

Note 4 - Accrued Liabilities

Note 4 - Accrued Liabilities	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Accrued Liabilities [Text Block]	NOTE 4 ACCRUED LIABILITIES As of September 30, 2017, December 31, 2016, $3,000 $5,750

Note 5 - Stockholders' Deficit

Note 5 - Stockholders' Deficit	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	NOTE 5 STOCKHOLDERS' DEFICIT On July 22, 2016, 20,000,000 stock to two 100,000,000 20,000,000 On February 27, 2017 two 19,5000,000 20,000,000 ing shares back to the Company. On February 28, 2017, 5,000,000 two no As of September 30, 2017, 5,500,000 no

Note 6 - Other Income

Note 6 - Other Income	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Other Nonoperating Income and Expense [Text Block]	NOTE 6 During the second 2017, $3,750 nine September 30, 2017,

Note 7 - Subsequent Event

Note 7 - Subsequent Event	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Subsequent Events [Text Block]	NOTE 7 SUBSEQUENT EVENT Management has evaluated subsequent events through November 14, 2017, no 855,

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Nature of Operations [Policy Text Block]	NATURE OF OPERATIONS Hawk Street Acquisition Corporation (the "Company") was incorporated on July 22, 2016, not 351 368 1986, No 1934.
Basis of Accounting, Policy [Policy Text Block]	BASIS OF PRESENTATION The summary of significant accounting policies presented below is designed to assist in understanding the Company's unaudited condensed financial statements. Such unaudited condensed 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 unaudited condensed financial statements. Certain information and footnote disclosures normally present in annual financial statements prepared in accordance with accountin g principles generally accepted in the United States of America ("U.S. GAAP") were omitted pursuant to such rules and regulations. The results for the three nine September 30, 2017 not December 31, 2017.
Use of Estimates, Policy [Policy Text Block]	USE OF ESTIMATES The preparation of unaudited condensed financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilitie s and disclosure of contingent assets and liabilities at the date of the condensed 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, Policy [Policy Text Block]	CASH 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 not September 30, 2017 December 31, 2016,
Concentration Risk, Credit Risk, Policy [Policy Text Block]	CONCENTRATION OF RISK Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash. The Company places its cash with high quality banking institutions. The Company did not cash balances in excess of the Federal Deposit Insurance Corporation limit as of September 30, 2017 December 31, 2016,
Income Tax, Policy [Policy Text Block]	INCOME TAXES Under ASC 740, nsequences 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 not September 30, 2017, December 31, 2016, no
Earnings Per Share, Policy [Policy Text Block]	EARNINGS PER SHARE Basic earnings per common share is calculated by dividing the net income by the weighted average shares outstanding during the period. Diluted earnings per share adds to the basic calculation any dilutive shares in the denominator. Basic loss per common share excludes dilution and is computed by dividing net loss by 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 September 30, 2017, December 31, 2016, no
Fair Value of Financial Instruments, Policy [Policy Text Block]	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 una udited condensed 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 unaudited condensed 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 3 three Level 1 in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2 1 rectly or indirectly. Level 3 The carrying amounts of financial assets such as cash approximate their fair values because of the short maturity of these instruments.
New Accounting Pronouncements, Policy [Policy Text Block]	RECENT ACCOUNTING PRONOUNCE MENTS On November 20, 2015, 2015 17 Taxes. The Board is issuing this Update as part of its initiative to reduce complexity in accounting standards (the Simplification Initiative). The objective of the Simplification Initiative is to identify, evaluate, and improve areas of generally accepted accounting principles (GAAP) for which cost and complexity can be reduced while maintaining or improving the usefulness of the information provided to users of financial statements. Current GAAP requires an entity to separate deferred income tax liabilities and assets into current and noncurrent amounts in a classified statement of financial position. To simplify the presentation of deferred income taxes, the amendments in this Update require that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The amendments in this Update apply to all entities that present a classified statement of financial position. The current requirement that deferred tax liabilities and assets of a tax-paying component of an entity be offset and presented as a single amount is not December 15, 2016, In November 2016, No. 2016 18, 230 2016 18" The new guidance is intended to reduce diversity in practice by adding or clarifying guidance on classification and presentation of changes in restricted cash on the statement of cash flows. ASU 2016 18 December 15, 2017. 2016 18, In August 2016, No. 2016 15, 230 presented and classified in the statement of cash flows". The amendments provide guidance on the following eight 1 2 3 4 5 6 7 December 15, 2017, In August 2014, No. 2014 15, tatements Going Concern (Subtopic 205 40 December 15, 2016, December 15, 2016. not

Note 1 - Nature of Operations14

Note 1 - Nature of Operations and Summary of Significant Accounting Policies (Details Textual) - USD ($) shares in Thousands, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Cash Equivalents, at Carrying Value	$ 0	$ 0
Cash, FDIC Insured Amount	0	0
Deferred Tax Assets, Net of Valuation Allowance	$ 0	$ 0
Weighted Average Number of Shares Outstanding, Diluted	0	0

Note 2 - Going Concern (Details

Note 2 - Going Concern (Details Textual) - USD ($)	2 Months Ended	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2017	Dec. 31, 2016
Operating Income (Loss)	$ (3,562)	$ (1,500)	$ (4,900)
Working Capital		(4,500)	(4,500)	$ (5,750)
Retained Earnings (Accumulated Deficit)		$ (9,212)	$ (9,212)	$ (8,062)

Note 3 - Loan From Related Pa16

Note 3 - Loan From Related Party (Details Textual) - USD ($)	2 Months Ended	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Jun. 30, 2017	Sep. 30, 2017
Proceeds from Related Party Debt		$ 1,500	$ 1,500

Note 4 - Accrued Liabilities (D

Note 4 - Accrued Liabilities (Details Textual) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Accrued Professional Fees	$ 3,000	$ 5,750

Note 5 - Stockholders' Deficit

Note 5 - Stockholders' Deficit (Details Textual) - shares	Feb. 28, 2017	Feb. 27, 2017	Jul. 22, 2016	Sep. 30, 2017	Dec. 31, 2016
Stock Issued During Period, Shares, Issued for Services			20,000,000
Common Stock, Shares Authorized			100,000,000	100,000,000	100,000,000
Preferred Stock, Shares Authorized			20,000,000	20,000,000	20,000,000
Stock Repurchased During Period, Shares		195,000,000
Stock Issued During Period, Shares, New Issues	5,000,000
Common Stock, Shares, Issued				5,500,000	20,000,000
Preferred Stock, Shares Issued				0	0
Common Stock, Shares, Outstanding				5,500,000	20,000,000
Preferred Stock, Shares Outstanding				0	0

Note 6 - Other Income (Details

Note 6 - Other Income (Details Textual) - USD ($)	2 Months Ended	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Jun. 30, 2017	Sep. 30, 2017
Reversal of Accrued Professional Fees		$ 3,750	$ 3,750