Document and Entity Information
Document and Entity Information | 3 Months Ended |
Nov. 30, 2018shares | |
Document and Entity Information: | |
Entity Registrant Name | TEMIR CORP. |
Document Type | 10-Q |
Document Period End Date | Nov. 30, 2018 |
Trading Symbol | temir |
Amendment Flag | false |
Entity Central Index Key | 1,685,237 |
Current Fiscal Year End Date | --08-31 |
Entity Common Stock, Shares Outstanding | 2,574,000 |
Entity Filer Category | Smaller Reporting Company |
Entity Current Reporting Status | No |
Entity Voluntary Filers | No |
Entity Well-known Seasoned Issuer | No |
Document Fiscal Year Focus | 2,019 |
Document Fiscal Period Focus | Q1 |
Statement of Financial Position
Statement of Financial Position - USD ($) | Nov. 30, 2018 | Aug. 31, 2018 |
Assets, Current | ||
Cash and Cash Equivalents, at Carrying Value | $ 52 | $ 2,873 |
Assets, Noncurrent | ||
Property, Plant and Equipment, Gross | 616 | 783 |
Assets | 668 | 3,656 |
Liabilities, Noncurrent | ||
Due to Related Parties, Noncurrent | 5,503 | 3,753 |
Liabilities | 5,503 | 3,753 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | ||
Common Stock, Value, Issued | 2,574 | 2,574 |
Additional Paid in Capital, Common Stock | 28,126 | 28,126 |
Retained Earnings (Accumulated Deficit) | (35,535) | (30,797) |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ (4,835) | $ (97) |
Stockholders' Equity, Number of Shares, Par Value and Other Disclosures | ||
Common Stock, Shares Authorized | 75,000,000 | 75,000,000 |
Common Stock, Shares Issued | 2,574,000 | 2,574,000 |
Common Stock, Shares Outstanding | 2,574,000 | 2,574,000 |
Liabilities and Equity | $ 668 | $ 3,656 |
Statements of Operations (unaud
Statements of Operations (unaudited) - USD ($) | 3 Months Ended | |
Nov. 30, 2018 | Nov. 30, 2017 | |
Revenues | ||
Sales Revenue, Services, Net | $ 3,200 | |
Revenues | $ 0 | 3,200 |
Cost of Revenue | ||
Cost of Revenue | 0 | 0 |
Gross Profit | 0 | 3,200 |
Amortization of Deferred Charges | ||
Administrative Expense | 4,738 | 4,163 |
Total Operating Expenses | 4,738 | 4,163 |
Net loss from operations | (4,738) | (963) |
Interest and Debt Expense | ||
Net Income (Loss) | $ (4,738) | $ (963) |
Earnings Per Share | ||
Weighted Average Number of Shares Outstanding, Basic | 2,574,000 | 2,574,000 |
Earnings Per Share, Basic and Diluted | $ 0 | $ 0 |
Statements of Cash Flows (unaud
Statements of Cash Flows (unaudited) - USD ($) | 3 Months Ended | |
Nov. 30, 2018 | Nov. 30, 2017 | |
Net Cash Provided by (Used in) Operating Activities | ||
Net loss for the period | $ (4,738) | $ (963) |
Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities | ||
Amortization | 167 | 167 |
Increase (Decrease) in Operating Assets | ||
Increase (Decrease) in Prepaid Expense and Other Assets | 297 | |
Increase (Decrease) in Operating Liabilities | ||
Net Cash Provided by (Used in) Operating Activities | (4,571) | (499) |
Net Cash Provided by (Used in) Investing Activities | ||
Net Cash Provided by (Used in) Investing Activities | 0 | 0 |
Net Cash Provided by (Used in) Financing Activities | ||
Proceeds from director loans | 1,750 | |
Net Cash Provided by (Used in) Financing Activities | 1,750 | 0 |
Cash and Cash Equivalents, Period Increase (Decrease) | (2,821) | (499) |
Cash and Cash Equivalents, at Carrying Value | 2,873 | 35,061 |
Cash and Cash Equivalents, at Carrying Value | $ 52 | $ 34,562 |
Organization, Consolidation and
Organization, Consolidation and Presentation of Financial Statements | 3 Months Ended |
Nov. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements: | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies | NOTE 1 ORGANIZATION AND BUSINESS TEMIR CORP. (the Company) is a corporation established under the corporation laws in the State of Nevada on May 19, 2016. The Company commences operations in tourism. Temir Corp. is a travel agency that organizes individual and group tours in Kyrgyzstan, such as cultural, recreational, sport, business, ecotours and other travel tours. The companys principal executive offices are located at 54 Frukovaya Street, Bishkek, Kyrgyzstan 720027. The Company has adopted August 31 fiscal year end. NOTE 2 GOING CONCERN The Companys financial statements as of November 30, 2018 been prepared using generally accepted accounting principles in the United States of America applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. The Company has accumulated deficit from inception (May 19, 2016) to November 30, 2018 of $35,535. These factors among others raise substantial doubt about the ability of the company to continue as a going concern for a reasonable period of time. In order to continue as a going concern, the Company will need, among other things, additional capital resources. Managements plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking third party equity and/or debt financing. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. These financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. NOTE 3 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The results for the three months ended November 30, 2018 are not necessarily indicative of the results of operations for the full year. These financial statements and related footnotes should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Companys Annual Report on Form 10K for the year ended AUGUST 31, 2018, filed with the Securities and Exchange Commission. The accompanying condensed financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at November 30, 2018 and for the related periods presented. Basis of Presentation The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America. Cash and Cash Equivalents For purposes of the statement of cash flows, the Company considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. The Company's bank accounts are deposited in insured institutions. The funds are insured up to $250,000. At November 30, 2018 the Company's bank deposits did not exceed the insured amounts. Use of Estimates Preparing financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. Actual results and outcomes may differ from managements estimates and assumptions. Stock-Based Compensation As of November 30, 2018 , the Company has not issued any stock-based payments to its employees. Stock-based compensation is accounted for at fair value in accordance with ASC 718, when applicable. To date, the Company has not adopted a stock option plan and has not granted any stock options. Revenue Recognition The Company follows the guidance of the Accounting Standards Codification (ASC) Topic 605, Revenue Recognition. We record revenue when persuasive evidence of an arrangement exists, the services have been provided, the price to the customer is fixed or determinable and collectability of the revenue is reasonably assured. Property and Equipment Property and equipment are stated at cost and depreciated on the straight line method over the estimated life of the asset, which is 3 years. Income Taxes The Company follows the liability method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences). The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. New Accounting Pronouncements There were various accounting standards and interpretations issued recently, none of which are expected to a have a material impact on our financial position, operations or cash flows. NOTE 4 CAPITAL STOCK The Company has 75,000,000 shares of common stock authorized with a par value of $0.001 per share. As of November 30, 2018, the Company had 2,574,000 shares issued and outstanding. |
Related Party Disclosures
Related Party Disclosures | 3 Months Ended |
Nov. 30, 2018 | |
Related Party Disclosures: | |
Related Party Transactions Disclosure | NOTE 5 RELATED PARTY TRANSACTIONS In support of the Companys efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by officers, directors, or shareholders. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances are considered temporary in nature and have not been formalized by a promissory note. Since May 19, 2016 (I nception ) through November 30, 2018, the Companys sole officer and director loaned the Company $ 5,503 to pay for incorporation costs and operating expenses . As of November 30, 2018 , the amount outstanding was $ 5,503 . The loan is non-interest bearing, due upon demand and unsecured. |
Subsequent Events
Subsequent Events | 3 Months Ended |
Nov. 30, 2018 | |
Subsequent Events: | |
Subsequent Events | NOTE 6 - SUBSEQUENT EVENTS The Company has evaluated subsequent events from November 30, 2018 to December 10, 2018 the date the financial statements were issued and has determined that there are no items to disclose. |