Document and Entity Information
Document and Entity Information | 3 Months Ended |
Feb. 28, 2019shares | |
Document and Entity Information [Abstract] | |
Document Type | 10-Q |
Amendment Flag | false |
Document Period End Date | Feb. 28, 2019 |
Document Fiscal Year Focus | 2019 |
Document Fiscal Period Focus | Q1 |
Entity Registrant Name | FOLKUP DEVELOPMENT INC. |
Entity Central Index Key | 0001684506 |
Current Fiscal Year End Date | --11-30 |
Entity Filer Category | Smaller Reporting Company |
Entity Common Stock, Shares Outstanding | 3,800,000 |
Balance sheet
Balance sheet - USD ($) | Feb. 28, 2019 | Nov. 30, 2018 |
Non-current deferred tax assets: | ||
Cash and cash equivalents | $ 35,506 | $ 33,388 |
Accounts Receivable | 0 | 2,415 |
Total Current Assets | 35,506 | 35,803 |
Fixed Assets | ||
Equipment, net | 720 | 780 |
Total Fixed Assets | 720 | 780 |
Total Assets | 36,226 | 36,583 |
Current Liabilities | ||
Accounts Payable | 4,395 | 4,395 |
Related Party Loans | 17,960 | 17,960 |
Total Current Liabilities | 22,355 | 22,355 |
Total Liabilities | $ 22,355 | $ 22,355 |
Stockholder's Equity | ||
Common stock, par value $0.001; 75,000,000 shares authorized, 3,800,000 and 3,800,000 shares issued and outstanding accordingly | 3,800 | 3,800 |
Additional paid in capital | $ 23,200 | $ 23,200 |
Accumulated deficit | (13,129) | (12,772) |
Total Stockholder's Equity | 13,871 | 14,228 |
Total Liabilities and Stockholder's Equity | $ 36,226 | $ 36,583 |
Balance sheet (Parenthetical)
Balance sheet (Parenthetical) - USD ($) | Feb. 28, 2019 | Nov. 30, 2018 |
Statement of Financial Position [Abstract] | ||
Common stock par value | $ 0.001 | $ 0.001 |
Common stock shares shares issued and outstanding | 3,800,000 | 3,800,000 |
Statement of operations
Statement of operations - USD ($) | 3 Months Ended | |
Feb. 28, 2019 | Feb. 28, 2018 | |
OPERATING EXPENSES | ||
General and Administrative Expenses | $ 357 | $ 5,026 |
TOTAL OPERATING EXPENSES | (357) | (5,026) |
NET INCOME (LOSS) FROM OPERATIONS | (357) | (5,026) |
PROVISION FOR INCOME TAXES | 0 | 0 |
NET INCOME (LOSS) | $ (357) | $ (5,026) |
NET LOSS PER SHARE: BASIC AND DILUTED | $ 0 | $ 0 |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED | 3,800,000 | 3,345,611 |
Statement of cash flows
Statement of cash flows - USD ($) | 3 Months Ended | |
Feb. 28, 2019 | Feb. 28, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss for the period | $ (357) | $ (5,026) |
Adjustments to reconcile net loss to net cash (used in) operating activities: | ||
Decrease in Accounts Receivable | 2,415 | 0 |
Accumulated Depreciation | 60 | 60 |
CASH FLOWS USED IN OPERATING ACTIVITIES | 2,118 | (4,966) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Related Party Loans | 0 | 4,550 |
Proceeds from sale of common stock | 0 | 14,250 |
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES | 0 | 18,800 |
NET INCREASE IN CASH | 2,118 | 13,834 |
Cash, beginning of period | 33,388 | 12,679 |
Cash, end of period | 35,506 | 26,513 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Interest paid | 0 | 0 |
Income taxes paid | $ 0 | $ 0 |
- ORGANIZATION AND NATURE OF BU
- ORGANIZATION AND NATURE OF BUSINESS | 3 Months Ended |
Feb. 28, 2019 | |
- ORGANIZATION AND NATURE OF BUSINESS [Abstract] | |
- ORGANIZATION AND NATURE OF BUSINESS | Note 1 - ORGANIZATION AND NATURE OF BUSINESS FOLKUP DEVELOPMENT INC. (“the Company”, “we”, “us” or “our”) was incorporated in the State of Nevada on July 5, 2016. We aim to deliver our products and services as follows, to lease and sell to our customers certain items or means of what we refer to as eco-transport. These items are commonly known under the names: a segway, a gyro-scooter or a self-balanced two-wheeled scooter, a self-balanced mono-wheeled scooter and a two-wheeled hoverboard. We expect our products and services to be demanded by establishments or enterprises or events, for instance, conferences held in large facilities. The business location is in Beograd, Republic of Serbia. |
- GOING CONCERN
- GOING CONCERN | 3 Months Ended |
Feb. 28, 2019 | |
- GOING CONCERN [Abstract] | |
- GOING CONCERN | Note 2 - GOING CONCERN The accompanying financial statements have been prepared in conformity with generally accepted accounting principles, which contemplate continuation of the Company as a going concern. The Company generated no revenues for the three months ended February 28, 2019. The Company currently has loses and has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time. Therefore, there is substantial doubt about the Company's ability to continue as a going concern. These factors raise substantial doubt about the Company's ability to continue as a going concern within one year after the date that the financial statements are issued. Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses. Management evaluates that lack of revenues can affect to the entity's ability to meet its obligations. The ability of the Company to mitigate the conditions or events that raise substantial doubt about the entity's ability to continue as a going concern is dependent on management's plans, which include further implementation of its business plan. The Company intends to position itself so that it will be able to raise additional funds through the capital markets. In light of management's efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern. |
- SUMMARY OF SIGNIFCANT ACCOUNT
- SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES | 3 Months Ended |
Feb. 28, 2019 | |
- SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES [Abstract] | |
- SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES | Note 3 - SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES Basis of presentation The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America. The Company's yearend is November 30. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles 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 the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash E q ui v a lents T h e C o m p a ny c o nsi d ers all h i gh ly li qu i d inves t m e n ts wit h t h e ori g i n a l m atu ritie s o f thre e m on t hs or les s to be ca s h e q u i v a le n t s. The Company had $35,506 of cash as of February 28, 2019 and $33,388 as of November 30, 2018. Depreciation, Amortization, and Capitalization The Company records depreciation and amortization when appropriate using straight-line balance method over the estimated useful life of the assets. We estimate that the useful life of sport equipment is five years. Expenditures for maintenance and repairs are charged to expense as incurred. Additions, major renewals and replacements that increase the property's useful life are capitalized. Property sold or retired, together with the related accumulated depreciation is removed from the appropriated accounts and the resultant gain or loss is included in net income. Customer Deposits A customer deposit is an amount paid by a customer to a company prior to the company providing it with goods or services. The company receiving the money has an obligation to provide the goods or services to the customer or to return the money. As of February 28, 2019 the Company had $0 in customer deposits and $0 as of November 30, 2018 . FOLKUP DEVELOPMENT INC. Notes to the unaudited financial statements FEBRUARY 28, 2019 Accounts Payable Accounts Payable discloses a liability to a creditor, carried on open account, usually for purchases of goods and services. The Company had $4,395 in accounts payable as of February 28, 2019 and $4,395 as of November 30, 2018. Fair Value of Financial Instruments AS topic 820 "Fair Value Measurements and Disclosures" establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market. These tiers include: Level 1: defined as observable inputs such as quoted prices in active markets; Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The carrying value of cash and the Company's loan from shareholder approximates its fair value due to their short-term maturity. Income Taxes Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. Basic Income (Loss) Per Share The Company computes income (loss) per share in accordance with FASB ASC 260 “Earnings per Share”. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. As of February 28, 2019 and November 30, 2018 there were no potentially dilutive debt or equity instruments issued or outstanding. Revenue Recognition The Company recognizes revenue in accordance with Accounting Standards Codification (ASC) 606, Revenue from Contracts. ASC 606 creates a five-step model that requires entities to exercise judgment when considering the terms of contracts, which includes (1) identifying the contracts or agreements with a customer, (2) identifying our performance obligations in the contract or agreement, (3) determining the transaction price, (4) allocating the transaction price to the separate performance obligations, and (5) recognizing revenue as each performance obligation is satisfied. For the three months ended February 28, 2019 the Company has generated no revenue. Stock-Based Compensation Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options. Recent Accounting Pronouncements We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company. |
- FIXED ASSETS
- FIXED ASSETS | 3 Months Ended |
Feb. 28, 2019 | |
- FIXED ASSETS [Abstract] | |
- FIXED ASSETS | <p align="justify" style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font color="black" lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;line-height:normal;">Note 4 - </font></b><b><i><font color="black" lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;line-height:normal;">FIXED ASSETS</font></i></b></p> <p align="justify" style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;line-height:normal;"> </font></p> <p align="justify" style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;line-height:normal;">As of February 28, 2019 the Company purchased 2 monowheels for $1,200.</font></p> <p align="justify" style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;line-height:normal;"> </font></p> <p align="center" style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><i><font color="windowtext" lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;line-height:normal;">FOLKUP DEVELOPMENT INC.</font></i></b></p> <p align="center" style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><i><font color="windowtext" lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;line-height:normal;">Notes to the unaudited financial statements</font></i></b></p> <p align="center" style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><i><font color="windowtext" lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;line-height:normal;">FEBRUARY 28, 2019</font></i></b></p> <p align="justify" style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><i><font color="windowtext" lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;line-height:normal;"> </font></i></b></p>" id="sjs-B4"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font color="black" lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;line-height:normal;">Note 4 - </font></b><b><i><font color="black" lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;line-height:normal;">FIXED ASSETS</font></i></b></p> <p align="justify" style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;line-height:normal;"> </font></p> <p align="justify" style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;line-height:normal;">As of February 28, 2019 the Company purchased 2 monowheels for $1,200.</font></p> <p align="justify" style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;line-height:normal;"> </font></p> <p align="center" style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><i><font color="windowtext" lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;line-height:normal;">FOLKUP DEVELOPMENT INC.</font></i></b></p> <p align="center" style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><i><font color="windowtext" lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;line-height:normal;">Notes to the unaudited financial statements</font></i></b></p> <p align="center" style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><i><font color="windowtext" lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;line-height:normal;">FEBRUARY 28, 2019</font></i></b></p> <p align="justify" style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><i><font color="windowtext" lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;line-height:normal;"> </font></i></b></p> |
- LOAN FROM DIRECTOR
- LOAN FROM DIRECTOR | 3 Months Ended |
Feb. 28, 2019 | |
- LOAN FROM DIRECTOR [Abstract] | |
- LOAN FROM DIRECTOR | Note 5 - LOAN FROM DIRECTOR For the three months ended February 28, 2019, our sole director has loaned to the Company $0. Loan is unsecured, non-interest bearing and due on demand. The balance due to the director was $17,960 as of February 28, 2019. |
- COMMON STOCK
- COMMON STOCK | 3 Months Ended |
Feb. 28, 2019 | |
- COMMON STOCK [Abstract] | |
- COMMON STOCK | Note 6 - COMMON STOCK The Company has 75,000,000, $0.001 par value shares of common stock authorized. On November 15, 2016 the Company issued 3,000,000 shares of common stock to a director for cash proceeds of $3,000 at $0.001 per share. During October 2017, the Company issued 85,000 shares of common stock for cash proceeds of $2,550 at $0.03 per share. During December 2017, the Company issued 240,000 shares of common stock for cash proceeds of $7,200 at $0.03 per share. During January 2018, the Company issued 60,000 shares of common stock for cash proceeds of $1800 at $0.03 per share. During February 2018, the Company issued 175,000 shares of common stock for cash proceeds of $5,250 at $0.03 per share. During April 2018, the Company issued 240,000 shares of common stock for cash proceeds of $7,200 at $0.03 per share. There were 3,800,000 shares of common stock issued and outstanding as of February 28, 2019. |
- COMMITMENTS AND CONTINGENCIES
- COMMITMENTS AND CONTINGENCIES | 3 Months Ended |
Feb. 28, 2019 | |
- COMMITMENTS AND CONTINGENCIES [Abstract] | |
- COMMITMENTS AND CONTINGENCIES | Note 7 - COMMITMENTS AND CONTINGENCIES Milena Topolac Tomovic, our sole officer and director, has agreed to provide the premises under the office needs for free use. Office location is Mileve Maric Ajnstajn 72, 11070 Novi Beograd, Republic of Serbia. |
- INCOME TAXES
- INCOME TAXES | 3 Months Ended |
Feb. 28, 2019 | |
- INCOME TAXES [Abstract] | |
- INCOME TAXES | Note 8 - INCOME TAXES The Company adopted the provisions of uncertain tax positions as addressed in ASC 740-10-65-1. As a result of the implementation of ASC 740-10-65-1, the Company recognized no increase in the liability for unrecognized tax benefits. As of February 28, 2019 the Company had net operating loss carry forwards of approximately $13,129 that may be available to reduce future years' taxable income in varying amounts through 2031. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards. The valuation allowance at February 28, 2019 was approximately $2,757. The net change in valuation allowance during the three months ended February 28, 2019 was $75. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred income tax assets will not be realized. The ultimate realization of deferred income tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred income tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. Based on consideration of these items, management has determined that enough uncertainty exists relative to the realization of the deferred income tax asset balances to warrant the application of a full valuation allowance as of February 28, 2019. All tax years since inception remains open for examination by taxing authorities. FOLKUP DEVELOPMENT INC. Notes to the unaudited financial statements FEBRUARY 28, 2019 The provision for Federal income tax consists of the following: As of February 28, 2019 As of November 30, 2018 Non-current deferred tax assets: Net operating loss carry forward $ (2,757) (2,682) Valuation allowance $ 2,757 2,682 Net deferred tax assets $ - - The actual tax benefit at the expected rate of 21% differs from the expected tax benefit for the three months ended February 28, 2019 as follows: Three months ended February 28, 2019 Three months ended February 28, 2018 Computed “expected” tax expense (benefit) $ (75) (1,055) Change in valuation allowance $ 75 1,055 Actual tax expense (benefit) $ - - |
- SUBSEQUENT EVENTS
- SUBSEQUENT EVENTS | 3 Months Ended |
Feb. 28, 2019 | |
- SUBSEQUENT EVENTS [Abstract] | |
- SUBSEQUENT EVENTS | Note 9 - SUBSEQUENT EVENTS In accordance with SFAS 165 (ASC 855-10) the Company has analyzed its operations subsequent to February 28, 2019 to the date these financial statements were issued, and has determined that it does not have any material subsequent events to disclose in these financial statements. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Feb. 28, 2019 | |
Significant Accounting Policies (Policies) [Abstract] | |
Basis of presentation | Basis of presentation The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America. The Company's yearend is November 30. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles 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 the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash E q ui v a lents T h e C o m p a ny c o nsi d ers all h i gh ly li qu i d inves t m e n ts wit h t h e ori g i n a l m atu ritie s o f thre e m on t hs or les s to be ca s h e q u i v a le n t s. The Company had $35,506 of cash as of February 28, 2019 and $33,388 as of November 30, 2018. Depreciation, Amortization, and Capitalization The Company records depreciation and amortization when appropriate using straight-line balance method over the estimated useful life of the assets. We estimate that the useful life of sport equipment is five years. Expenditures for maintenance and repairs are charged to expense as incurred. Additions, major renewals and replacements that increase the property's useful life are capitalized. Property sold or retired, together with the related accumulated depreciation is removed from the appropriated accounts and the resultant gain or loss is included in net income. |
Customer Deposits | Customer Deposits A customer deposit is an amount paid by a customer to a company prior to the company providing it with goods or services. The company receiving the money has an obligation to provide the goods or services to the customer or to return the money. As of February 28, 2019 the Company had $0 in customer deposits and $0 as of November 30, 2018 . FOLKUP DEVELOPMENT INC. Notes to the unaudited financial statements FEBRUARY 28, 2019 Accounts Payable Accounts Payable discloses a liability to a creditor, carried on open account, usually for purchases of goods and services. The Company had $4,395 in accounts payable as of February 28, 2019 and $4,395 as of November 30, 2018. Fair Value of Financial Instruments AS topic 820 "Fair Value Measurements and Disclosures" establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market. These tiers include: Level 1: defined as observable inputs such as quoted prices in active markets; Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The carrying value of cash and the Company's loan from shareholder approximates its fair value due to their short-term maturity. Income Taxes Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. Basic Income (Loss) Per Share The Company computes income (loss) per share in accordance with FASB ASC 260 “Earnings per Share”. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. As of February 28, 2019 and November 30, 2018 there were no potentially dilutive debt or equity instruments issued or outstanding. Revenue Recognition The Company recognizes revenue in accordance with Accounting Standards Codification (ASC) 606, Revenue from Contracts. ASC 606 creates a five-step model that requires entities to exercise judgment when considering the terms of contracts, which includes (1) identifying the contracts or agreements with a customer, (2) identifying our performance obligations in the contract or agreement, (3) determining the transaction price, (4) allocating the transaction price to the separate performance obligations, and (5) recognizing revenue as each performance obligation is satisfied. For the three months ended February 28, 2019 the Company has generated no revenue. Stock-Based Compensation Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options. Recent Accounting Pronouncements We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company. |
- SUMMARY OF SIGNIFCANT ACCOU_2
- SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (Tables) | 3 Months Ended |
Feb. 28, 2019 | |
- SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (Tables) [Abstract] | |
These tiers include: | These tiers include: Level 1: defined as observable inputs such as quoted prices in active markets; Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. |
- INCOME TAXES (Tables)
- INCOME TAXES (Tables) | 3 Months Ended |
Feb. 28, 2019 | |
- INCOME TAXES (Tables) [Abstract] | |
The provision for Federal income | The provision for Federal income tax consists of the following: As of February 28, 2019 As of November 30, 2018 Non-current deferred tax assets: Net operating loss carry forward $ (2,757) (2,682) Valuation allowance $ 2,757 2,682 Net deferred tax assets $ - - |
The actual tax benefit at | The actual tax benefit at the expected rate of 21% differs from the expected tax benefit for the three months ended February 28, 2019 as follows: Three months ended February 28, 2019 Three months ended February 28, 2018 Computed “expected” tax expense (benefit) $ (75) (1,055) Change in valuation allowance $ 75 1,055 Actual tax expense (benefit) $ - - |
- GOING CONCERN (Details Text)
- GOING CONCERN (Details Text) | Feb. 28, 2019USD ($) |
Going Concern__ [Abstract] | |
These factors raise substantial doubt about the Company's ability to continue as a going concern within one year after the date that the financial statements are issued | $ 1 |
- SUMMARY OF SIGNIFCANT ACCOU_3
- SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (Details Text) - USD ($) | Feb. 28, 2019 | Nov. 30, 2018 |
Summary Of Signifcant Accounting Policies Details_ [Abstract] | ||
The Company had $35,506 of cash as of February 28, 2019 and $33,388 as of November 30, 2018. | $ 35,506 | $ 33,388 |
The Company had $4,395 in accounts payable as of February 28, 2019 and $4,395 as of November 30, 2018. | $ 4,395 | $ 4,395 |
- FIXED ASSETS (Details Text)
- FIXED ASSETS (Details Text) | Feb. 28, 2019USD ($) |
Fixed Assets_ Details_ [Abstract] | |
As of February 28, 2019 the Company purchased 2 monowheels for $1,200. | $ 1,200 |
- LOAN FROM DIRECTOR (Details T
- LOAN FROM DIRECTOR (Details Text) | Feb. 28, 2019USD ($) |
Loan From Director Details_ [Abstract] | |
For the three months ended February 28, 2019, our sole director has loaned to the Company $0 | $ 0 |
The balance due to the director was $17,960 as of February 28, 2019. | $ 17,960 |
- COMMON STOCK (Details Text)
- COMMON STOCK (Details Text) - USD ($) | Feb. 28, 2019 | Apr. 30, 2018 | Feb. 28, 2018 | Jan. 31, 2018 | Dec. 31, 2017 | Oct. 31, 2017 | Nov. 15, 2016 |
Common Stock Details_ [Abstract] | |||||||
On November 15, 2016 the Company issued 3,000,000 shares of common stock to a director for cash proceeds of $3,000 at $0.001 per share. | $ 3,000 | ||||||
During October 2017, the Company issued 85,000 shares of common stock for cash proceeds of $2,550 at $0.03 per share. | 2,550 | ||||||
During December 2017, the Company issued 240,000 shares of common stock for cash proceeds of $7,200 at $0.03 per share. | $ 7,200 | ||||||
During January 2018, the Company issued 60,000 shares of common stock for cash proceeds of $1800 at $0.03 per share. | $ 1,800 | ||||||
During February 2018, the Company issued 175,000 shares of common stock for cash proceeds of $5,250 at $0.03 per share. | $ 5,250 | ||||||
During April 2018, the Company issued 240,000 shares of common stock for cash proceeds of $7,200 at $0.03 per share. | 7,200 | ||||||
There were 3,800,000 shares of common stock issued and outstanding as of February 28, 2019. | 3,800,000 |
- INCOME TAXES (Details 1)
- INCOME TAXES (Details 1) - USD ($) | Feb. 28, 2019 | Nov. 30, 2018 |
Non-current deferred tax assets: | ||
Net operating loss carry forward | $ (2,757) | $ (2,682) |
Valuation allowance | 2,757 | $ 2,682 |
Net deferred tax assets | $ 0 |
- INCOME TAXES (Details 2)
- INCOME TAXES (Details 2) - USD ($) | 3 Months Ended | |
Feb. 28, 2019 | Feb. 28, 2018 | |
Income Taxes_ Abstract_ [Abstract] | ||
Computed "expected" tax expense (benefit) | $ (75) | $ (1,055) |
Change in valuation allowance | 75 | $ 1,055 |
Actual tax expense (benefit) | $ 0 |
- INCOME TAXES (Details Text)
- INCOME TAXES (Details Text) | Feb. 28, 2019USD ($) |
Income Taxes Abstract_ Details [Abstract] | |
As of February 28, 2019 the Company had net operating loss carry forwards of approximately $13,129 that may be available to reduce future years' taxable income in varying amounts through 2031 | $ 13,129 |
The valuation allowance at February 28, 2019 was approximately $2,757 | 2,757 |
The net change in valuation allowance during the three months ended February 28, 2019 was $75 | $ 75 |