| Summary of Significant Accounting Policies | Note 2 – Summary of Significant Accounting Policies
Use of Estimates The preparation of CFS in conformity with
U.S. 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 CFS and the reported amounts of revenues and expenses during the
reporting period. The Company regularly evaluates estimates and assumptions. The Company bases its estimates and assumptions on
current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the
results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs
and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially
and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual
results, future results of operations will be affected. Principles of Consolidation The accompanying CFS include the accounts of
Limited and its wholly-owned Subsidiary, PLC. All significant intercompany transactions and balances were eliminated in consolidation. Cash Equivalents For the purpose of the statement of cash flows,
cash equivalents include time deposits, certificate of deposits, and all highly liquid debt instruments with original maturities of three
months or less. Accounts Receivable Accounts receivable are recorded, net of allowance
for doubtful accounts and sales returns. Management reviews the composition of accounts receivable and analyzes historical bad debts,
customer concentration, customer credit worthiness, current economic trends and changes in customer payment patterns to determine if
the allowance for doubtful accounts is adequate. An estimate for doubtful accounts is made when collection of the full amount is no longer
probable. Delinquent account balances are written-off after management has determined that the likelihood of collection is not probable
and known bad debts are written off against the allowance for doubtful accounts when identified. As of September 30, 2021 and
2020, the allowance for uncollectible accounts receivable was zero, respectively. Derivative Financial Instruments The Company evaluates its agreements to determine
if such instruments have derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that
are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting
date, with changes in the fair value reported in the statements of operations. Valuation of the derivatives by the Company requires significant
estimates and assumptions for each period. For the periods ended September 30, 2021 and September 30, 2020 respectively, the assumptions
related to derivative valuation was as follows:
Estimate and assumption September 30, September 30,
Volatility N/A 172.45 %
Expected remaining term N/A 2 years
Exercise price N/A $ 1.05 - $2.00
Stock price N/A $ 7.00
Dividend rate N/A 0 %
Discount rate N/A 0.17 % For stock-based derivative financial instruments,
the Company uses a Black-Scholes-Merton option pricing model to value the derivative instruments at inception and on subsequent valuation
dates. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity,
is evaluated at the end of each reporting period. Derivative instrument liabilities are classified in the balance sheet as current or
non-current based on whether or not net-cash settlement of the derivative instrument could be required within 12 months of the balance
sheet date. As of September 30, 2020, the Company’s only derivative financial instruments were outstanding warrants since the Company
did not have enough unissued authorized shares to satisfy the exercise of all the outstanding warrants. As of September 30, 2020,
we noted that the warrant holders released the Company of their obligation under the original warrants as part of the transaction on
July 14, 2020. As evidence was obtained that impacted the valuation on September 30, 2020 after the balance sheet date that impacted
the balance at September 30, 2020, the warrants were written down to zero. There were not additional warrants issued during the period
ended September 30, 2021. Fair Value of Financial Instruments For certain of the Company’s financial instruments,
including cash and equivalents, accounts receivable, accounts payable, trust liability and advances, the carrying amounts approximate
their fair values due to their short maturities. FASB ASC Topic 820, Fair Value Measurements
and Disclosures Financial Instruments
● Level
1 inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets.
● Level
2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted prices for identical
or similar assets in inactive markets, and inputs that are observable for the asset or liability, either directly or indirectly, for
substantially the full term of the financial instrument.
● Level
3 inputs to the valuation methodology use one or more unobservable inputs which are significant to the FV measurement. The Company analyzes all financial
instruments with features of both liabilities and equity under FASB ASC Topic 480, Distinguishing Liabilities from Equity Derivatives and Hedging The Company uses Level 2 inputs
for its valuation methodology for derivative liabilities as their fair values were determined by using the Black-Scholes-Merton pricing
model based on various assumptions. As of September 30, 2021, the Company’s stock price used in the Black-Scholes-Merton pricing
model was based on recent sales of the Company’s common stock to unrelated investors since there no market price for the Company’s
common stock at September 30, 2021. The Company’s derivative liabilities are adjusted to reflect FV at each period end, with any
increase or decrease in the FV being recorded in results of operations as adjustments to fair value of derivatives. Revenue Recognition ASU No. 2014-09 Revenue from
Contracts with Customers Topic 606. Topic 605, Revenue Recognition Revenue from advisory fees and related services
are recognized under Topic 606
● executed
contract(s) with our customer(s) that we believe is legally enforceable;
● identification
of performance obligation in the respective contract;
● determination
of the transaction price for each performance obligation in the respective contract;
● allocation
of the transaction price to each performance obligation; and
● recognition
of revenue only when the Company satisfies each performance obligation. These five elements, as applied to the Company’s only revenue
category, are summarized below:
● Advisory
fees and related services – the Company charges advisory fees for a suite of one to two dozen services that include advising
on where to establish a corporation, establishing the corporation (often Gibraltar or Malta), writing white paper, setting up website,
making videos or animations describing the company and its business, engaging in public relations, and introducing potential investors. Income Taxes The Company accounts for income taxes in accordance
with ASC Topic 740, Income Taxes Under ASC 740, a tax position is recognized as
a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination
being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized
on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. The Company has
no material uncertain tax positions for any of the reporting periods presented. Basic and Diluted Earnings (loss) Per Share Earnings per share is calculated in accordance
with ASC Topic 260, Earnings Per Share Foreign Currency Transactions and Comprehensive Income U.S. GAAP generally requires recognized
revenue, expenses, gains and losses be included in net income. Certain statements, however, require entities to report specific
changes in assets and liabilities, such as gain or loss on foreign currency translation, as a separate component of the equity
section of the balance sheet. Such items, along with net income, are components of comprehensive income. The functional currency of
the Company’s subsidiary is the GBP. Translation gain of $4,979 at September 30, 2021 is classified as an item of other
comprehensive income in the stockholders’ deficit section of the balance sheet. Statement of Cash Flows Cash flows from the Company’s operations
are calculated based upon the local currencies using the average translation rates. As a result, amounts related to assets and liabilities
reported on the statements of cash flows will not necessarily agree with changes in the corresponding balances on the balance sheets. Recent Accounting Pronouncements In January 2017, the FASB issued Accounting Standards
Update (“ASU”) 2017-01, Business Combinations (Topic 805) Clarifying the Definition of a Business In November 2016, the FASB issued ASU 2016-18,
Statement of Cash Flows (Topic 230): Restricted Cash, In October 2016, the FASB issued ASU 2016-16,
Income Taxes (Topic 740): Intra-Entity Transfer of Assets Other than Inventory In August 2016, the FASB issued ASU 2016-15 , Statement
of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments In February 2016, the FASB issued ASU 2016-02,
Leases (Topic 842) In May 2014, FASB issued ASU No. 2014-09, Revenue
from Contracts with Customers Management does not believe that any recently
issued, but not yet effective, accounting standards could have a material effect on the accompanying CFS. As new accounting pronouncements
are issued, we will adopt those that are applicable under the circumstances. Risks and Uncertainties In December 2019, a novel strain of coronavirus
(COVID-19) emerged in Wuhan, Hubei Province, China. While initially the outbreak was largely concentrated in China and caused significant
disruptions to its economy, it has now spread to several other countries and infections have been reported globally fiscal first quarter
and potentially beyond. Because COVID-19 infections have been reported
throughout the United States, certain federal, state and local governmental authorities have issued stay-at-home orders, proclamations
and/or directives aimed at minimizing the spread of COVID-19. Additional, more restrictive proclamations and/or directives may be issued
in the future. As a result, all of our office locations have been closed effective April 1, 2020. The ultimate impact of the COVID-19 pandemic on
the Company’s operations is unknown and will depend on future developments, which are highly uncertain and cannot be predicted with
confidence, including the duration of the COVID-19 outbreak, new information which may emerge concerning the severity of the COVID-19
pandemic, and any additional preventative and protective actions that governments, or the Company, may direct, which may result in an
extended period of continued business disruption, reduced customer traffic and reduced operations. Any resulting financial impact cannot
be reasonably estimated at this time but is anticipated to have a material adverse impact on our business, financial condition and results
of operations. The measures taken to date will impact the Company’s
business for the fiscal fourth quarter and potentially beyond. Management expects that all of its business segments, across all of its
geographies, will be impacted to some degree, but the significance of the impact of the COVID-19 outbreak on the Company’s business
and the duration for which it may have an impact cannot be determined at this time. Management’s Evaluation of Subsequent Events The Company evaluates events that have occurred
after the balance sheet date of September 30, 2021, through the date which the CFS were issued. Based upon the review, the Company did
not identify any recognized or non-recognized subsequent events that would have required adjustment or disclosure in the CFS. |
