Document and Entity Information
Document and Entity Information | 6 Months Ended |
Feb. 28, 2018shares | |
Document and Entity Information [Abstract] | |
Document Type | 10-Q |
Amendment Flag | false |
Document Period End Date | Feb. 28, 2018 |
Document Fiscal Year Focus | 2,018 |
Document Fiscal Period Focus | Q2 |
Entity Registrant Name | KALMIN CORP. |
Entity Central Index Key | 1,685,570 |
Current Fiscal Year End Date | --08-31 |
Entity Filer Category | Smaller Reporting Company |
Entity Common Stock, Shares Outstanding | 4,836,500 |
Balance Sheets (Unaudited)
Balance Sheets (Unaudited) - USD ($) | Feb. 28, 2018 | Aug. 31, 2017 |
Current Assets | ||
Cash and cash equivalents | $ 1,279 | $ 4,021 |
Prepaid expenses | 6,173 | 10,343 |
Inventory | 31 | 12,908 |
Total Current Assets | 7,483 | 27,272 |
Property and equipment, net of accumulated depreciation | 8,573 | 9,631 |
Total Assets | 16,056 | 36,903 |
Accounts payable | 360 | 0 |
Customer deposits | 1,700 | 0 |
Advances from director | 21,453 | 21,453 |
Total Liabilities | $ 23,513 | $ 21,453 |
Common stock, par value $0.001; 75,000,000 shares authorized, 4,836,500 and 4,811,500 shares issued and outstanding | 4,837 | 4,811 |
Additional paid-in capital | $ 15,444 | $ 14,969 |
Accumulated deficit | (27,738) | (4,330) |
Total Stockholder's Equity | (7,457) | 15,450 |
Total Liabilities and Stockholders' Equity | $ 16,056 | $ 36,903 |
Balance Sheets (Unaudited) (Par
Balance Sheets (Unaudited) (Parenthetical) - USD ($) | Feb. 28, 2018 | Aug. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Common stock par value | $ 0.001 | $ 0.001 |
Common stock shares authorized | 75,000,000 | 75,000,000 |
Common stock shares outstanding | 4,836,500 | 4,811,500 |
Statements of Operations
Statements of Operations - USD ($) | 3 Months Ended | 6 Months Ended | ||
Feb. 28, 2018 | Feb. 28, 2017 | Feb. 28, 2018 | Feb. 28, 2017 | |
Income Statement [Abstract] | ||||
Revenues | $ 12,150 | $ 1,000 | $ 25,766 | $ 5,300 |
Cost of Goods Sold | 6,843 | 157 | 13,511 | 830 |
Gross Profit | 5,307 | 843 | 12,255 | 4,470 |
Operating Expenses: | ||||
General and Administrative Expenses | 13,598 | 3,778 | 35,663 | 9,431 |
Total Operating Expenses | 13,598 | 3,778 | 35,663 | 9,431 |
Loss from Operations | (8,291) | (2,935) | (23,408) | (4,961) |
Provision for Income Taxes | 0 | 0 | 0 | 0 |
Net Loss | $ (8,291) | $ (2,935) | $ (23,408) | $ (4,961) |
Net Loss Per Common Share - Basic and Diluted | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted Average Number of Common Shares Outstanding - Basic and Diluted | 4,836,500 | 4,000,000 | 4,835,948 | 4,000,000 |
Statement of Cash Flows
Statement of Cash Flows - USD ($) | 6 Months Ended | |
Feb. 28, 2018 | Feb. 28, 2017 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (23,408) | $ (4,961) |
Depreciation | 1,058 | 344 |
Prepaid expenses | 4,170 | 1,425 |
Inventory | 12,878 | (2,134) |
Accounts payable | 360 | 3,000 |
Customer deposits | 1,700 | 0 |
Cash Flows Used In Operating Activities | (3,242) | (2,326) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchase of equipment | 0 | (3,436) |
Cash Flows Used In Investing Activities | 0 | (3,436) |
Advances from director | 0 | 7,600 |
Proceeds from sale of common stock | 500 | 0 |
Cash Flows Provided By Financing Activities | 500 | 7,600 |
Net Decrease/Increase In Cash | (2,742) | 1,838 |
Cash, beginning of period | 4,021 | 581 |
Cash, end of period | 1,279 | 2,419 |
Interest paid | 0 | 0 |
Income taxes paid | $ 0 | $ 0 |
- ORGANIZATION AND NATURE OF BU
- ORGANIZATION AND NATURE OF BUSINESS | 6 Months Ended |
Feb. 28, 2018 | |
- ORGANIZATION AND NATURE OF BUSINESS [Abstract] | |
- ORGANIZATION AND NATURE OF BUSINESS | NOTE 1 - ORGANIZATION AND NATURE OF BUSINESS Kalmin Corp. (“the Company”, “we”, “us” or “our”) was incorporated on July 20, 2016 in the State of Nevada. We manufacture and sell the necessary equipment for drinking mate - kalabas and bombilla. Many options are available for the production of kalabas (calabash), a traditional vessel for drinking yerba mate, and we choose to use wood and aluminum for reliability and durability. We start with kalabases of a single type and will expand to a range of cup sizes in the future. |
- GOING CONCERN
- GOING CONCERN | 6 Months Ended |
Feb. 28, 2018 | |
- 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. However, the Company had $25,766 revenues for the six months ended February 28, 2018; but incurred a net loss. The Company 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. Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses. 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 to become financially viable and continue as a going concern. These financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. |
- SUMMARY OF SIGNIFCANT ACCOUNT
- SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES | 6 Months Ended |
Feb. 28, 2018 | |
- SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES [Abstract] | |
- SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES | NOTE 3 - SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES Basis of presentation The Company prepares its financial statements in conformity with generally accepted accounting principles in the United States of America. These principles require 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 period. Management believes that these estimates are reasonable and have been discussed with the Board of Directors; however, actual results could differ from those estimates. Cash and Cash E q ui v a lents All of the cash is maintained with the Bank of America, one of the major financial institutions in the United States. Deposits with this bank may exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed on demand and, therefore, bear minimal risk. The Company considers all highly liquid investments with the original maturities of three months or less at the date of acquisition to be cash equivalents. There were no cash equivalents as of February 28, 2018 and August 31, 2017. 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. KALMIN CORP. Notes to the Financial Statements February 28, 2018 (Unaudited) Inventories Inventories are stated at the lower of cost or market. Cost is principally determined using the first-in, first out (“ FIFO ”) method. Depreciation, Amortization, and Capitalization The Company records depreciation and amortization when appropriate use the straight-line method over the estimated useful life of the assets. 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. Fair Value of Financial Instruments The carrying value of cash and the Company's loan from shareholder approximates its fair value due to their short-term maturity. Advertising Advertising expenses consisted of marketing expenses and promotional activity expenses, and are recognized when incurred. Total advertising expense was $3,450 and $0 for the six months ended February 28, 2018 and 2017, respectively. 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. Revenue Recognition The Company recognizes revenue when the four basic criteria are met: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed and determinable; and (4) collectability is reasonably assured. Determination of criteria (3) and (4) are based on management's judgments regarding the fixed nature of the selling prices of the products delivered and the collectability of those amounts. Provisions for discounts and rebates to customers, estimated returns and allowances, and other adjustments are provided for in the same period the related sales are recorded. The Company will defer any revenue for which the product has not been delivered or is subject to refund until such time that the Company and the customer jointly determine that the product has been delivered or no refund will be required. Earnings (Loss) 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, 2018 and 2017, there were no potentially dilutive debt or equity instruments issued or outstanding. Currencies The Company's reporting and functional currencies are both the U.S. dollar. Foreign currency transaction gains and losses are included in other income (expense). KALMIN CORP. Notes to the Financial Statements February 28, 2018 (Unaudited) 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. |
- PROPERTY AND EQUIPMENT
- PROPERTY AND EQUIPMENT | 6 Months Ended |
Feb. 28, 2018 | |
- PROPERTY AND EQUIPMENT [Abstract] | |
- PROPERTY AND EQUIPMENT | NOTE 4 - PROPERTY AND EQUIPMENT As of February 28, 2018, property and equipment consisted of the following: Useful Lives February 28, 2018 Machinery and equipment 5 $ 6,700 Furniture 3,885 Less accumulated depreciation (2,012) Net property and equipment $ 8,573 Depreciation expense for the six months ended February 28, 2018 and 2017 was $1,058 and $344 respectively. |
- ADVANCE FROM DIRECTOR
- ADVANCE FROM DIRECTOR | 6 Months Ended |
Feb. 28, 2018 | |
- ADVANCE FROM DIRECTOR [Abstract] | |
- ADVANCE FROM DIRECTOR | NOTE 5 - ADVANCE FROM DIRECTOR In July 2016, the Company executed an agreement with the President to loan the Company an amount not more than $25,000. As of February 28, 2018, the Company's President has advanced $21,453 to the Company. This advance is unsecured, non-interest bearing and due on demand. |
- COMMON STOCK
- COMMON STOCK | 6 Months Ended |
Feb. 28, 2018 | |
- COMMON STOCK [Abstract] | |
- COMMON STOCK | NOTE 6 - COMMON STOCK On August 23, 2016, the Company issued 4,000,000 shares of common stock to a director for cash proceeds of $4,000 at $0.001 per share. In April 2017, the Company issued 175,000 shares of common stock at $0.02 per share for cash proceeds of $3,371, net of issuance costs of $129. In May 2017, the Company issued 206,500 shares of common stock at $0.02 per share for cash proceeds of $3,971, net of issuance costs of $159. In June 2017, the Company issued 110,000 shares of common stock at $0.02 per share for cash proceeds of $2,078, net of issuance costs of $122. In July 2017, the Company issued 180,000 shares of common stock at $0.02 per share for cash proceeds of $3,580, net of issuance costs of $20. In August 2017, the Company issued 140,000 shares of common stock at $0.02 per share for cash proceeds of $2,780, net of issuance costs of $20. In September 2017, the Company issued 25,000 shares of common stock at $0.02 per share for cash proceeds of $500. KALMIN CORP. Notes to the Financial Statements February 28, 2018 (Unaudited) |
- COMMITMENTS AND CONTINGENCIES
- COMMITMENTS AND CONTINGENCIES | 6 Months Ended |
Feb. 28, 2018 | |
- COMMITMENTS AND CONTINGENCIES [Abstract] | |
- COMMITMENTS AND CONTINGENCIES | NOTE 7 - COMMITMENTS AND CONTINGENCIES The Company has entered into a one-year rental agreement for office space for a $180 monthly fee, starting on September 1, 2016. On May 15, 2017, the Company signed an amendment to the rental agreement, extending the lease term for one year until September 1, 2018, with an option of further extension. Lease expenses for the six months ended February 28, 2018 and 2017 were $1,080 and $1,080, respectively. |
- INCOME TAXES
- INCOME TAXES | 6 Months Ended |
Feb. 28, 2018 | |
- INCOME TAXES [Abstract] | |
- INCOME TAXES | NOTE 8 - INCOME TAXES As of February 28, 2018, the Company had net operating loss carry forwards of approximately $27,738 that may be available to reduce future years' taxable income in varying amounts through 2036. 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, 2018 was $5,825. The net change in valuation allowance during the six months ended February 28, 2018 was $4,353. 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 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, 2018. The provision for federal income tax consists of the following: As of February 28, 2018 As of August 31, 2017 Non-current deferred tax assets attributable to: Net operating loss carry forward $ 5,825 $ 1,472 Valuation allowance (5,825) (1,472 ) Net deferred tax assets $ - $ - The actual tax benefit at the expected rate of 21% differs from the expected tax benefit for the six months ended February 28, 2018 as follows: Six months ended February 28, 2018 Six months ended February 28, 2017 Computed “expected” tax expense (benefit) at 34% $ (4, 353 ) $ (1,687) Change in valuation allowance 4, 353 1,687 Actual tax expense (benefit) $ - - KALMIN CORP. Notes to the Financial Statements February 28, 2018 (Unaudited) |
- SUBSEQUENT EVENTS
- SUBSEQUENT EVENTS | 6 Months Ended |
Feb. 28, 2018 | |
- SUBSEQUENT EVENTS [Abstract] | |
- SUBSEQUENT EVENTS | NOTE 9 - SUBSEQUENT EVENTS The Company has analyzed its transactions subsequent to February 28, 2018 through the date these financial statements were issued for consideration of any material subsequent events to disclose in these financial statements. In connection with the appointment of Karel Astride Oulai, as Treasurer and Secretary of the Company, on September 20, 2017, Ms. Oulai will be issued with 1,000,000 shares of the Company's common stock for her services through the end of Company's fiscal year on August 31, 2018. The exercise price of the stock options is $0.001 per share. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Feb. 28, 2018 | |
Significant Accounting Policies (Policies) [Abstract] | |
Cash and Cash Equivalents | Basis of presentation The Company prepares its financial statements in conformity with generally accepted accounting principles in the United States of America. These principles require 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 period. Management believes that these estimates are reasonable and have been discussed with the Board of Directors; however, actual results could differ from those estimates. Cash and Cash E q ui v a lents All of the cash is maintained with the Bank of America, one of the major financial institutions in the United States. Deposits with this bank may exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed on demand and, therefore, bear minimal risk. The Company considers all highly liquid investments with the original maturities of three months or less at the date of acquisition to be cash equivalents. There were no cash equivalents as of February 28, 2018 and August 31, 2017. 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. KALMIN CORP. Notes to the Financial Statements February 28, 2018 (Unaudited) Inventories Inventories are stated at the lower of cost or market. Cost is principally determined using the first-in, first out (“ FIFO ”) method. Depreciation, Amortization, and Capitalization The Company records depreciation and amortization when appropriate use the straight-line method over the estimated useful life of the assets. 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. Fair Value of Financial Instruments The carrying value of cash and the Company's loan from shareholder approximates its fair value due to their short-term maturity. Advertising Advertising expenses consisted of marketing expenses and promotional activity expenses, and are recognized when incurred. Total advertising expense was $3,450 and $0 for the six months ended February 28, 2018 and 2017, respectively. 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. Revenue Recognition The Company recognizes revenue when the four basic criteria are met: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed and determinable; and (4) collectability is reasonably assured. Determination of criteria (3) and (4) are based on management's judgments regarding the fixed nature of the selling prices of the products delivered and the collectability of those amounts. Provisions for discounts and rebates to customers, estimated returns and allowances, and other adjustments are provided for in the same period the related sales are recorded. The Company will defer any revenue for which the product has not been delivered or is subject to refund until such time that the Company and the customer jointly determine that the product has been delivered or no refund will be required. Earnings (Loss) 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, 2018 and 2017, there were no potentially dilutive debt or equity instruments issued or outstanding. Currencies The Company's reporting and functional currencies are both the U.S. dollar. Foreign currency transaction gains and losses are included in other income (expense). KALMIN CORP. Notes to the Financial Statements February 28, 2018 (Unaudited) 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. |
- PROPERTY AND EQUIPMENT (Table
- PROPERTY AND EQUIPMENT (Tables) | 6 Months Ended |
Feb. 28, 2018 | |
- PROPERTY AND EQUIPMENT (Tables) [Abstract] | |
As of February 28, 2018, property and equipment consisted of the following | As of February 28, 2018, property and equipment consisted of the following: Useful Lives February 28, 2018 Machinery and equipment 5 $ 6,700 Furniture 3,885 Less accumulated depreciation (2,012) Net property and equipment $ 8,573 |
- INCOME TAXES (Tables)
- INCOME TAXES (Tables) | 6 Months Ended |
Feb. 28, 2018 | |
- INCOME TAXES (Tables) [Abstract] | |
The provision for federal income | The provision for federal income tax consists of the following: As of February 28, 2018 As of August 31, 2017 Non-current deferred tax assets attributable to: Net operating loss carry forward $ 5,825 $ 1,472 Valuation allowance (5,825) (1,472 ) 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 six months ended February 28, 2018 as follows: Six months ended February 28, 2018 Six months ended February 28, 2017 Computed “expected” tax expense (benefit) at 34% $ (4, 353 ) $ (1,687) Change in valuation allowance 4, 353 1,687 Actual tax expense (benefit) $ - - |
- GOING CONCERN (Details Text)
- GOING CONCERN (Details Text) | Feb. 28, 2018USD ($) |
Going Concern__ [Abstract] | |
However, the Company had $25,766 revenues for the six months ended February 28, 2018; but incurred a net loss | $ 25,766 |
- SUMMARY OF SIGNIFCANT ACCOU19
- SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (Details Text) - USD ($) | Feb. 28, 2018 | Feb. 28, 2017 |
Summary Of Signifcant Accounting Policies__ [Abstract] | ||
Total advertising expense was $3,450 and $0 for the six months ended February 28, 2018 and 2017, respectively. | $ 3,450 | $ 0 |
- PROPERTY AND EQUIPMENT (Detai
- PROPERTY AND EQUIPMENT (Details 1) - USD ($) | Feb. 28, 2018 | Aug. 31, 2017 |
Property And Equipment [Abstract] | ||
Machinery and equipment | $ 6,700 | |
Furniture | 3,885 | |
Less accumulated depreciation | (2,012) | |
Net property and equipment | $ 8,573 | $ 9,631 |
- PROPERTY AND EQUIPMENT (Det21
- PROPERTY AND EQUIPMENT (Details Text) - USD ($) | Feb. 28, 2018 | Feb. 28, 2017 |
Property And Equipment_ Abstract_ [Abstract] | ||
Depreciation expense for the six months ended February 28, 2018 and 2017 was $1,058 and $344 respectively. | $ 1,058 | $ 344 |
- ADVANCE FROM DIRECTOR (Detail
- ADVANCE FROM DIRECTOR (Details Text) - USD ($) | Feb. 28, 2018 | Jul. 31, 2016 |
- ADVANCE FROM DIRECTOR [Abstract] | ||
In July 2016, the Company executed an agreement with the President to loan the Company an amount not more than $25,000 | $ 25,000 | |
As of February 28, 2018, the Company's President has advanced $21,453 to the Company | $ 21,453 |
- COMMON STOCK (Details Text)
- COMMON STOCK (Details Text) - USD ($) | Sep. 30, 2017 | Aug. 31, 2017 | Jul. 31, 2017 | Jun. 30, 2017 | May 31, 2017 | Apr. 30, 2017 | Aug. 23, 2016 |
- COMMON STOCK [Abstract] | |||||||
On August 23, 2016, the Company issued 4,000,000 shares of common stock to a director for cash proceeds of $4,000 at $0.001 per share. | $ 4,000 | ||||||
In April 2017, the Company issued 175,000 shares of common stock at $0.02 per share for cash proceeds of $3,371, net of issuance costs of $129. | $ 3,371 | ||||||
In May 2017, the Company issued 206,500 shares of common stock at $0.02 per share for cash proceeds of $3,971, net of issuance costs of $159. | $ 3,971 | ||||||
In June 2017, the Company issued 110,000 shares of common stock at $0.02 per share for cash proceeds of $2,078, net of issuance costs of $122. | $ 2,078 | ||||||
In July 2017, the Company issued 180,000 shares of common stock at $0.02 per share for cash proceeds of $3,580, net of issuance costs of $20. | $ 3,580 | ||||||
In August 2017, the Company issued 140,000 shares of common stock at $0.02 per share for cash proceeds of $2,780, net of issuance costs of $20. | $ 2,780 | ||||||
In September 2017, the Company issued 25,000 shares of common stock at $0.02 per share for cash proceeds of $500. | $ 500 |
- COMMITMENTS AND CONTINGENCI24
- COMMITMENTS AND CONTINGENCIES (Details Text) - USD ($) | Feb. 28, 2018 | May 15, 2017 | Feb. 28, 2017 | Sep. 05, 2016 |
Commitments And Contingencies [Abstract] | ||||
The Company has entered into a one-year rental agreement for office space for a $180 monthly fee, starting on September 1, 2016 | $ 180 | |||
On May 15, 2017, the Company signed an amendment to the rental agreement, extending the lease term for one year until September 1, 2018, with an option of further extension | $ 1 | |||
Lease expenses for the six months ended February 28, 2018 and 2017 were $1,080 and $1,080, respectively. | $ 1,080 | $ 1,080 |
- INCOME TAXES (Details 1)
- INCOME TAXES (Details 1) - USD ($) | Feb. 28, 2018 | Aug. 31, 2017 |
Income Taxes [Abstract] | ||
Net operating loss carry forward | $ 5,825 | $ 1,472 |
Valuation allowance | (5,825) | (1,472) |
Net deferred tax assets | $ 0 | $ 0 |
- INCOME TAXES (Details 2)
- INCOME TAXES (Details 2) - USD ($) | 6 Months Ended | |
Feb. 28, 2018 | Feb. 28, 2017 | |
Income Taxes [Abstract] | ||
Computed "expected" tax expense (benefit) at 34% | $ (4,353) | $ (1,687) |
Change in valuation allowance | $ 4,353 | $ 1,687 |
- INCOME TAXES (Details Text)
- INCOME TAXES (Details Text) | Feb. 28, 2018USD ($) |
Income Taxes [Abstract] | |
As of February 28, 2018, the Company had net operating loss carry forwards of approximately $27,738 that may be available to reduce future years' taxable income in varying amounts through 2036 | $ 27,738 |
The valuation allowance at February 28, 2018 was $5,825 | 5,825 |
The net change in valuation allowance during the six months ended February 28, 2018 was $4,353 | 4,353 |
The actual tax benefit at the expected rate of 21% differs from the expected tax benefit for the six months ended February 28, 2018 as follows: | $ 21 |
- SUBSEQUENT EVENTS (Details Te
- SUBSEQUENT EVENTS (Details Text) | Aug. 31, 2018USD ($) |
Subsequent_ [Abstract] | |
Oulai will be issued with 1,000,000 shares of the Company's common stock for her services through the end of Company's fiscal year on August 31, 2018 | $ 1,000,000 |
The exercise price of the stock options is $0.001 per share. | $ 0.001 |