Cover
Cover - shares | 9 Months Ended | |
Sep. 30, 2023 | Jan. 16, 2024 | |
Cover [Abstract] | ||
Entity Registrant Name | CRONA CORP. | |
Entity Central Index Key | 0001696411 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Entity Small Business | true | |
Entity Shell Company | false | |
Entity Emerging Growth Company | true | |
Entity Current Reporting Status | Yes | |
Document Period End Date | Sep. 30, 2023 | |
Entity Filer Category | Non-accelerated Filer | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2023 | |
Entity Ex Transition Period | false | |
Entity Common Stock Shares Outstanding | 6,087,500 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity File Number | 333-216180 | |
Entity Incorporation State Country Code | WY | |
Entity Tax Identification Number | 35-2574778 | |
Entity Address Address Line 1 | 304 South Jones Blvd | |
Entity Address Address Line 2 | #7356 | |
Entity Address City Or Town | Las Vegas | |
Entity Address Postal Zip Code | 89107 | |
City Area Code | 888 | |
Local Phone Number | 998-1888 | |
Security 12b Title | Common stock | |
Trading Symbol | CCCP | |
Entity Address State Or Province | NV | |
Entity Interactive Data Current | Yes |
BALANCE SHEETS
BALANCE SHEETS - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Current Assets | ||
Cash | $ 6 | $ 0 |
Prepaid expenses | 1,011 | 2,510 |
Total Current Assets | 1,017 | 2,510 |
Long-term Assets | ||
Intangible asset, net | 56,265 | 75,020 |
Property, plant and equipment, net | 19,887 | 24,980 |
Total Long-term Assets | 76,152 | 100,000 |
Total Assets | 77,169 | 102,510 |
Current Liabilities | ||
Accounts payable | 1,398 | 99 |
Accrued expenses | 1,000 | 1,500 |
Interest payable | 10,188 | 0 |
Related party advances | 3,650 | 221 |
Convertible notes payable, net of discount | 126,852 | 0 |
Total Current Liabilities | 143,088 | 1,820 |
Promissory note, related party | 100,000 | 100,000 |
Total Long Term Liabilities | 100,000 | 100,000 |
Total Liabilities | 243,088 | 101,820 |
Stockholders' (Deficit) Equity | ||
Preferred stock, par value $0.00001 10,000,000 shares authorized, 5,000,000 shares issued and outstanding as of September 30, 2023 and December 31, 2022 | 50 | 0 |
Common stock, par value $0.001; 1,000,000,000 shares authorized, 6,087,500 shares issued and outstanding as of September 30, 2023 and December 31, 2022 | 6,088 | 6,088 |
Additional paid in capital | 31,853 | 31,403 |
Accumulated other comprehensive loss | (187) | 0 |
Accumulated deficit | (203,723) | (36,801) |
Total Stockholders' (Deficit) Equity | (165,919) | 690 |
Total Liabilities and Stockholders' (Deficit) Equity | $ 77,169 | $ 102,510 |
BALANCE SHEETS (Parenthetical)
BALANCE SHEETS (Parenthetical) - $ / shares | Sep. 30, 2023 | Jun. 30, 2023 |
BALANCE SHEETS | ||
Common Stock Par Value | $ 0.001 | $ 0.001 |
Common Stock Shares Authorized | 1,000,000,000 | 1,000,000,000 |
Common Stock Shares Issued | 6,087,500 | 6,087,500 |
Common Stock Shares Outstanding | 6,087,500 | 6,087,500 |
Preferred stock par value | $ 0.00001 | $ 0.00001 |
Preferred stock shares authorized | 10,000,000 | 10,000,000 |
Preferred stock shares issued | 5,000,000 | 5,000,000 |
Preferred stock shares outstanding | 5,000,000 | 5,000,000 |
STATEMENTS OF OPERATIONS (UNAUD
STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
STATEMENTS OF OPERATIONS (UNAUDITED) | ||||
REVENUES | $ 0 | $ 0 | $ 0 | $ 0 |
OPERATING EXPENSES | ||||
Amortization on convertible promissory note | 4,285 | 0 | 10,852 | 0 |
Professional fees | 1,000 | 2,442 | 109,352 | 23,622 |
Depreciation and amortization expense | 7,949 | 167 | 23,848 | 500 |
General and administrative expenses | 1,948 | 0 | 12,682 | 2,226 |
TOTAL OPERATING EXPENSES | 15,182 | 2,609 | 156,734 | 26,348 |
OTHER INCOME (EXPENSE) | ||||
Interest expenses | (2,297) | 0 | (10,188) | 0 |
TOTAL OTHER EXPENSE | (2,297) | 0 | (10,188) | 0 |
LOSS FROM OPERATIONS | (17,479) | (2,609) | (166,922) | (26,348) |
PROVISION FOR INCOME TAXES | 0 | 0 | ||
NET LOSS | (17,479) | (2,609) | (166,922) | (26,348) |
OTHER COMPREHENSIVE LOSS | ||||
Foreign Currency Translation Adjustment | 10 | 0 | (187) | 0 |
COMPREHENSIVE LOSS | $ (17,469) | $ (2,609) | $ (167,109) | $ (26,348) |
NET LOSS PER SHARE: BASIC AND DILUTED | $ 0 | $ 0 | $ (0.03) | $ 0 |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED | 6,087,500 | 6,087,500 | 6,087,500 | 6,087,500 |
STATEMENTS OF STOCKHOLDERS DEFI
STATEMENTS OF STOCKHOLDERS DEFICIT (UNAUDITED) - USD ($) | Total | Common Stock | Additional Paid-In Capital | Accumulated Deficit | Other comprehensive loss | Preferred Series A |
Balance, shares at Dec. 31, 2021 | 6,087,500 | |||||
Balance, amount at Dec. 31, 2021 | $ (44,458) | $ 6,088 | $ 31,403 | $ (81,949) | $ 0 | $ 0 |
Net loss | (5,878) | $ 0 | 0 | (5,878) | 0 | 0 |
Balance, shares at Mar. 31, 2022 | 6,087,500 | |||||
Balance, amount at Mar. 31, 2022 | (50,336) | $ 6,088 | 31,403 | (87,827) | 0 | 0 |
Balance, shares at Dec. 31, 2021 | 6,087,500 | |||||
Balance, amount at Dec. 31, 2021 | (44,458) | $ 6,088 | 31,403 | (81,949) | 0 | 0 |
Net loss | (26,348) | |||||
Foreign currency translation adjustment | 0 | |||||
Balance, shares at Sep. 30, 2022 | 6,087,500 | |||||
Balance, amount at Sep. 30, 2022 | (70,638) | $ 6,088 | 31,403 | (108,296) | 0 | 0 |
Balance, shares at Mar. 31, 2022 | 6,087,500 | |||||
Balance, amount at Mar. 31, 2022 | (50,336) | $ 6,088 | 31,403 | (87,827) | 0 | 0 |
Net loss | (17,860) | $ 0 | 0 | (17,860) | 0 | 0 |
Balance, shares at Jun. 30, 2022 | 6,087,500 | |||||
Balance, amount at Jun. 30, 2022 | (68,029) | $ 6,088 | 31,403 | (105,687) | 0 | 0 |
Net loss | (2,609) | $ 0 | 0 | (2,609) | 0 | 0 |
Foreign currency translation adjustment | 0 | |||||
Balance, shares at Sep. 30, 2022 | 6,087,500 | |||||
Balance, amount at Sep. 30, 2022 | (70,638) | $ 6,088 | 31,403 | (108,296) | 0 | 0 |
Balance, shares at Dec. 31, 2022 | 6,087,500 | |||||
Balance, amount at Dec. 31, 2022 | 690 | $ 6,088 | 31,403 | (36,801) | 0 | 0 |
Net loss | (110,239) | 0 | 0 | (110,239) | 0 | 0 |
Foreign currency translation adjustment | (37) | $ 0 | 0 | 0 | (37) | 0 |
Balance, shares at Mar. 31, 2023 | 6,087,500 | |||||
Balance, amount at Mar. 31, 2023 | (109,586) | $ 6,088 | 31,403 | (147,040) | (37) | 0 |
Balance, shares at Dec. 31, 2022 | 6,087,500 | |||||
Balance, amount at Dec. 31, 2022 | 690 | $ 6,088 | 31,403 | (36,801) | 0 | $ 0 |
Net loss | (166,922) | |||||
Foreign currency translation adjustment | (187) | |||||
Balance, shares at Sep. 30, 2023 | 6,087,500 | 5,000,000 | ||||
Balance, amount at Sep. 30, 2023 | (165,919) | $ 6,088 | 31,853 | (203,723) | (187) | $ 50 |
Balance, shares at Mar. 31, 2023 | 6,087,500 | |||||
Balance, amount at Mar. 31, 2023 | (109,586) | $ 6,088 | 31,403 | (147,040) | (37) | 0 |
Net loss | (39,204) | 0 | 0 | (39,204) | 0 | 0 |
Foreign currency translation adjustment | (160) | $ 0 | 0 | 0 | (160) | $ 0 |
Shares issued for services, shares | 5,000,000 | |||||
Shares issued for services, amount | 500 | 450 | $ 50 | |||
Balance, shares at Jun. 30, 2023 | 6,087,500 | 5,000,000 | ||||
Balance, amount at Jun. 30, 2023 | (148,450) | $ 6,088 | 31,853 | (186,244) | (197) | $ 50 |
Net loss | (17,479) | 0 | 0 | (17,479) | 0 | |
Foreign currency translation adjustment | 10 | $ 0 | 0 | 0 | 10 | $ 0 |
Balance, shares at Sep. 30, 2023 | 6,087,500 | 5,000,000 | ||||
Balance, amount at Sep. 30, 2023 | $ (165,919) | $ 6,088 | $ 31,853 | $ (203,723) | $ (187) | $ 50 |
STATEMENTS OF CASH FLOWS (UNAUD
STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (166,922) | $ (26,348) |
Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
Depreciation and amortization expense | 23,848 | 500 |
Amortization of discount on promissory note | 10,852 | 0 |
Share based compensation | 500 | 0 |
Changes in operating assets and liabilities: | ||
Prepaid expenses | 1,499 | (9,965) |
Accounts payable | 1,299 | (9,802) |
Accrued expenses | (500) | 0 |
Interest payable | 10,188 | 0 |
CASH FLOWS FROM OPERATING ACTIVITIES | (119,236) | (45,615) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from convertible promissory note | 116,000 | 0 |
Proceeds from related party | 6,972 | 45,615 |
Repayment to related party | (3,543) | |
CASH FLOWS FROM FINANCING ACTIVITIES | 119,429 | 45,615 |
NET INCREASE (DECREASE) IN CASH | 193 | 0 |
Effects of currency translation on cash | (187) | 0 |
Cash, beginning of period | 0 | 0 |
Cash, end of period | 6 | 0 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Interest paid | 0 | 0 |
Income taxes paid | $ 0 | $ 0 |
ORGANIZATION AND NATURE OF BUSI
ORGANIZATION AND NATURE OF BUSINESS | 9 Months Ended |
Sep. 30, 2023 | |
ORGANIZATION AND NATURE OF BUSINESS | |
ORGANIZATION AND NATURE OF BUSINESS | Note 1 – ORGANIZATION AND NATURE OF BUSINESS Crona Corp. (“the Company”) was incorporated in the State of Nevada on October 6, 2016. On February 3, 2023 the Company filed Articles of Continuance with the Secretary of State in the State of Wyoming pursuant to which the Company re-domiciled from the State of Nevada to the State of Wyoming. Effective December 29, 2022, the Company’s new address is 422 Richards Street, Unit 170 Vancouver, BC V6B 2Z4. The core business of the Company is the elimination of germs and microbes through disinfection and anti-microbial protection. |
GOING CONCERN
GOING CONCERN | 9 Months Ended |
Sep. 30, 2023 | |
GOING CONCERN | |
GOING CONCERN | Note 2 – GOING CONCERN The accompanying financial statements have been prepared in conformity with generally accepted accounting principles (“GAAP”), which contemplate the continuation of the Company as a going concern. The Company generated no revenues through September 30, 2023. The Company currently has accumulated losses of $203,723 as of September 30, 2023 and has not completed its efforts to establish a stabilized source of revenue 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 or become financially viable and continue as a going concern. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Sep. 30, 2023 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | Note 3 – SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES Basis of presentation The accompanying financial statements have been prepared in accordance with GAAP. The Company’s year-end is December 31. Use of Estimates The preparation of financial statements in conformity with 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 financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. 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 in accordance with Accounting Standards Codification (“ASC”) 606, “ Revenue from Contracts with Customers Basic Income (Loss) Per Share The Company computes income (loss) per share in accordance with ASC 260 “Earnings per share” Property and Equipment Property and equipment are carried at cost. Expenditures for maintenance and repairs are charged against operations. Renewals and betterment that materially extend the life of the assets are capitalized. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts, and any resulting gain or loss is reflected in income for the period. Depreciation is computed for financial statement purposes on a straight-line basis over the following estimated useful lives of the related assets. Useful life Minimum Maximum Equipment 10 Months 15 Years Intangible assets Intangible assets consist of contracts acquired in an asset purchase agreement (see Note 4). The estimated useful life of these assets was determined to be 3 years. The Company periodically evaluates the reasonableness of the useful lives of these assets. Once these assets are fully amortized, they are removed from the accounts. These assets are reviewed for impairment or obsolescence when events or changes in circumstances indicate that the carrying amount may not be recoverable. If impaired, intangible assets are written down to fair value based on discounted cash flows or other valuation techniques. The Company has no intangibles with indefinite lives. Impairment of Long-Lived Assets The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. To determine recoverability of a long-lived asset, management evaluates whether the estimated future undiscounted net cash flows from the asset are less than its carrying amount. If impairment is indicated, the long-lived asset would be written down to fair value. Fair value is determined by an evaluation of available price information at which assets could be bought or sold, including quoted market prices, if available, or the present value of the estimated future cash flows based on reasonable and supportable assumptions. Leases The Company accounts for leases in accordance with Accounting Standards Update (“ASU”) No. 2016-02, “ Leases Recent Accounting Pronouncements There have been no recent accounting pronouncements or changes in accounting pronouncements during the three months ended September 30, 2023, that are of significance or potential significance to the Company. |
ASSET AQUISITION
ASSET AQUISITION | 9 Months Ended |
Sep. 30, 2023 | |
ASSET AQUISITION | |
ASSET AQUISITION | Note 4 – ASSET AQUISITION On December 29, 2022, the Company entered into an Asset Purchase Agreement with Zeroblast Services Ltd. (Seller), a related party, to acquire all business assets of the Seller, which included equipment and intangible assets. Seller will also convey any and all contracts that it has with its current customers, written, oral or otherwise (the intangible assets). Consideration for the asset acquisition is a cash payment of 100,000 ($24,980 for the equipment and $75,020 for the intangible asset).The payment shall be in the form of a Promissory Note due on or before December 29, 2024. This note bears interest at 7% per annum, however if the note is fully repaid within twelve (12) months interest is waived. At any time during the first twelve (12) months the note can be reopened for either an extension or renegotiation of the terms of the note. |
PROPERTY PLANT AND EQUIPMENT
PROPERTY PLANT AND EQUIPMENT | 9 Months Ended |
Sep. 30, 2023 | |
PROPERTY PLANT AND EQUIPMENT | |
PROPERTY PLANT AND EQUIPMENT | Note 5 – PROPERTY PLANT & EQUIPMENT The Company’s Property plant and equipment as of September 30, 2023 and December 31, 2022 are as follows: September 30, 2023 December 31, 2022 Property, plant and equipment, gross $ 24,980 $ 24,980 Less: Depreciation (5,093 ) - Property, plant and equipment, net 19,887 24,980 Total depreciation expenses for the nine months ended September 30, 2023 and 2022 were $5,093 and $0, respectively. |
INTANGIBLE ASSETS
INTANGIBLE ASSETS | 9 Months Ended |
Sep. 30, 2023 | |
INTANGIBLE ASSETS | |
INTANGIBLE ASSETS | Note 6 – INTANGIBLE ASSETS The Company’s intangible assets as of September 30, 2023 and December 31, 2022 are as follows: September 30, 2023 December 31, 2022 Intangible assets, gross $ 75,020 $ 75,020 Less: Amortization (18,755 ) - Intangible assets, net $ 56,265 $ 75,020 Total amortization expenses for the nine months ended September 30, 2023 and 2022, were $18,755 and $0, respectively. |
CONVERTIBLE PROMISSORY NOTE
CONVERTIBLE PROMISSORY NOTE | 9 Months Ended |
Sep. 30, 2023 | |
CONVERTIBLE PROMISSORY NOTE | |
CONVERTIBLE PROMISSORY NOTE | Note 7 – CONVERTIBLE PROMISSORY NOTE On February 09, 2023, the Company issued a convertible promissory note (the “February 2023 Note”) at a face value of $133,000 to a third party at an interest rate of 12% per annum. Net proceeds received against the promissory note is $116,000 with a discount of $17,000. Maturity date of the note is 12 months from the date of issue with a conversion price of $0.10. As of September 30, 2023 Face value Discount on Promissory Note Net payable Accrued Interest Convertible Promissory Note $ 133,000 $ (6,148 ) $ 126,852 $ 10,188 Total $ 133,000 $ (6,148 ) $ 126,852 $ 10,188 |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 9 Months Ended |
Sep. 30, 2023 | |
RELATED PARTY TRANSACTIONS | |
RELATED PARTY TRANSACTIONS | Note 8 – RELATED PARTY TRANSACTIONS On December 29, 2022, the Company entered into a promissory Note with a related party, Zeroblast Services Ltd. (Seller). The Promissory Note is entered into as an exchange for the all business assets of the Seller at $100,000. The sum of $100,000 is due on or before December 29, 2024. This note bears interest at 7% per annum. As of September 30, 2023 and December 31, 2022, interest payable totaled $10,188 and $0, respectively. During the year 2022, president & CEO Chris Brown advanced to the Company $221 towards working capital. These advances are unsecured, non-interest bearing and due on demand. During the three months ended March 31, 2023, president & CEO Chris Brown advanced to the Company $4,807 towards working capital. These advances are unsecured, non-interest bearing and due on demand. On June 07, 2023, the company issued, 5,000,000 preferred stock class B at par value of $0.0001, to the director, Lucille Zdunich as fully paid and non-assessable for service provided. During the three months ended June 30, 2023, president & CEO Chris Brown advanced to the Company $891 towards working capital. The company, repaid $2,381 towards the loan of president & CEO Chris Brown. During the three months ended June 30, 2023, president Dmalamas, advanced to the Company $82 towards working capital. These advances are unsecured, non-interest bearing and due on demand. During the three months ended September 30, 2023, the company, repaid $303 towards the loan of president & CEO Chris Brown. During the three months ended September 30, 2023, director Lucille Zdunich, advanced to the Company $333 towards working capital. These advances are unsecured, non-interest bearing and due on demand. As of September 30, 2023, and December 31, 2022, due to related party is $3,650 and $221 respectively. |
STOCKHOLDERS EQUITY
STOCKHOLDERS EQUITY | 9 Months Ended |
Sep. 30, 2023 | |
STOCKHOLDERS EQUITY | |
STOCKHOLDERS' EQUITY | Note 9 – STOCKHOLDERS’ EQUITY Common Shares The Company has 1,000,000,000, $0.001 par value shares of common stock authorized. During the three months ended June 30, 2017, the company issued a total of 1,087,500 common shares for cash proceeds of $1080. As of September 30, 2023, the company’s common shares issued and outstanding is 6,087,500 Preferred Shares The company has 10,000,000, $0.00001 par value of preferred stock authorized. On June 07, 2023, the company issued, 5,000,000 preferred stock class B at a par value of $0.0001, to the director, Lucille Zdunich as fully paid and non-assessable for service provided. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 9 Months Ended |
Sep. 30, 2023 | |
Commitments and contingencies (Note 6) | |
COMMITMENTS AND CONTINGENCIES | Note 10 – COMMITMENTS AND CONTINGENCIES In November 20, 2020, the Company has entered into a new rental agreement for a $371 monthly fee, starting on December 1, 2020, for a period of one year. In January 2022, the Company extended the lease agreement for a period of one year. The lease was terminated in July 2022. For the nine months ended September 30, 2023 and 2022 rent expense was $0 and $2,226, respectively, which is included within general and administrative expenses on the statements of operations. From time-to-time, the Company is subject to various litigation and other claims in the normal course of business. The Company establishes liabilities in connection with legal actions that management deems to be probable and estimable. No amounts have been accrued in the financial statements with respect to any matters. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Sep. 30, 2023 | |
SUBSEQUENT EVENTS | |
SUBSEQUENT EVENTS | Note 11 – SUBSEQUENT EVENTS In accordance with ASC 855-10, the Company has analyzed its operations subsequent to September 30, 2023, through the date when financial statements were issued, and has determined that it does not have material subsequent events to disclosure in these financial statements. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Sep. 30, 2023 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Basis of presentation | The accompanying financial statements have been prepared in accordance with GAAP. The Company’s year-end is December 31. |
Use of Estimates | The preparation of financial statements in conformity with 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 financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Cash and Cash Equivalents | The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. |
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 in accordance with Accounting Standards Codification (“ASC”) 606, “ Revenue from Contracts with Customers |
Basic Income (Loss) Per Share | The Company computes income (loss) per share in accordance with ASC 260 “Earnings per share” |
Property and Equipment | Property and equipment are carried at cost. Expenditures for maintenance and repairs are charged against operations. Renewals and betterment that materially extend the life of the assets are capitalized. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts, and any resulting gain or loss is reflected in income for the period. Depreciation is computed for financial statement purposes on a straight-line basis over the following estimated useful lives of the related assets. Useful life Minimum Maximum Equipment 10 Months 15 Years |
Intangible assets | Intangible assets consist of contracts acquired in an asset purchase agreement (see Note 4). The estimated useful life of these assets was determined to be 3 years. The Company periodically evaluates the reasonableness of the useful lives of these assets. Once these assets are fully amortized, they are removed from the accounts. These assets are reviewed for impairment or obsolescence when events or changes in circumstances indicate that the carrying amount may not be recoverable. If impaired, intangible assets are written down to fair value based on discounted cash flows or other valuation techniques. The Company has no intangibles with indefinite lives. |
Impairment of Long-Lived Assets | The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. To determine recoverability of a long-lived asset, management evaluates whether the estimated future undiscounted net cash flows from the asset are less than its carrying amount. If impairment is indicated, the long-lived asset would be written down to fair value. Fair value is determined by an evaluation of available price information at which assets could be bought or sold, including quoted market prices, if available, or the present value of the estimated future cash flows based on reasonable and supportable assumptions. |
Leases | The Company accounts for leases in accordance with Accounting Standards Update (“ASU”) No. 2016-02, “ Leases |
Recent Accounting Pronouncements | There have been no recent accounting pronouncements or changes in accounting pronouncements during the three months ended September 30, 2023, that are of significance or potential significance to the Company. |
SUMMARY OF SIGNIFCANT ACCOUNTIN
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Schedule of Property and Equipment Estimated Useful Lives | Useful life Minimum Maximum Equipment 10 Months 15 Years |
PROPERTY PLANT EQUIPMENT (Table
PROPERTY PLANT EQUIPMENT (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
PROPERTY PLANT AND EQUIPMENT | |
Summary of Property Plant Equipment | September 30, 2023 December 31, 2022 Property, plant and equipment, gross $ 24,980 $ 24,980 Less: Depreciation (5,093 ) - Property, plant and equipment, net 19,887 24,980 |
INTANGIBLE ASSETS (Tables)
INTANGIBLE ASSETS (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
INTANGIBLE ASSETS | |
Summary of Intangible Assets | September 30, 2023 December 31, 2022 Intangible assets, gross $ 75,020 $ 75,020 Less: Amortization (18,755 ) - Intangible assets, net $ 56,265 $ 75,020 |
CONVERTIBLE PROMISSORY NOTE (Ta
CONVERTIBLE PROMISSORY NOTE (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
CONVERTIBLE PROMISSORY NOTE | |
Schedule Of Convertible Promissory Note | As of September 30, 2023 Face value Discount on Promissory Note Net payable Accrued Interest Convertible Promissory Note $ 133,000 $ (6,148 ) $ 126,852 $ 10,188 Total $ 133,000 $ (6,148 ) $ 126,852 $ 10,188 |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
GOING CONCERN | ||
Accumulated losses | $ (203,723) | $ (36,801) |
SUMMARY OF SIGNIFCANT ACCOUNT_2
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (Details) | 9 Months Ended |
Sep. 30, 2023 | |
Minimum [Member] | |
Estimate useful life | 10 months |
Maximum [Member] | |
Estimate useful life | 15 years |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) | 9 Months Ended |
Sep. 30, 2023 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Intangible assets estimate useful life | 3 years |
ASSET AQUISITION (Details Narra
ASSET AQUISITION (Details Narrative) | 9 Months Ended |
Sep. 30, 2023 USD ($) | |
ASSET AQUISITION | |
Cash payment for equipment | $ 24,980 |
Cash payment for intangible assets | $ 75,020 |
Interest rate | 7% |
Consideration for asset acquisition | $ 100,000 |
PROPERTY PLANT EQUIPMENT (Detai
PROPERTY PLANT EQUIPMENT (Details) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
PROPERTY PLANT AND EQUIPMENT | ||
Property, plant and equipment, gross | $ 24,980 | $ 24,980 |
Less: Depreciation | (5,093) | 0 |
Property, plant and equipment, net | $ 19,887 | $ 24,980 |
PROPERTY PLANT EQUIPMENT (Det_2
PROPERTY PLANT EQUIPMENT (Details Narrative) - USD ($) | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
PROPERTY PLANT AND EQUIPMENT | ||
Depreciation expense | $ 5,093 | $ 0 |
INTANGIBLE ASSETS (Details)
INTANGIBLE ASSETS (Details) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
INTANGIBLE ASSETS | ||
Intangible assets, gross | $ 75,020 | $ 75,020 |
Less: Amortization | (18,755) | 0 |
Intangible assets, net | $ 56,265 | $ 75,020 |
INTANGIBLE ASSETS (Details Narr
INTANGIBLE ASSETS (Details Narrative ) - USD ($) | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
INTANGIBLE ASSETS | ||
Amortization expense | $ 18,755 | $ 0 |
CONVERTIBLE PROMISSORY NOTE (De
CONVERTIBLE PROMISSORY NOTE (Details) - USD ($) | Sep. 30, 2023 | Feb. 09, 2023 |
Face value | $ 133,000 | $ 133,000 |
Discount On Promissory Note | (6,148) | $ (17,000) |
Net payable | 126,852 | |
Accrued Interest | 10,188 | |
Convertible Promissory Note [Member] | ||
Face value | 133,000 | |
Discount On Promissory Note | (6,148) | |
Net payable | 126,852 | |
Accrued Interest | $ 10,188 |
CONVERTIBLE PROMISSORY NOTE (_2
CONVERTIBLE PROMISSORY NOTE (Details Narrative) - USD ($) | Feb. 09, 2023 | Sep. 30, 2023 |
CONVERTIBLE PROMISSORY NOTE | ||
Face value | $ 133,000 | $ 133,000 |
Interest rate | 12% | |
Net proceeds received | $ 116,000 | |
Discount | $ 17,000 | $ 6,148 |
Debt maturity | 12 months | |
Conversion price | $ 0.10 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Dec. 29, 2022 | Jun. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2023 | Dec. 31, 2022 | Jun. 07, 2023 | |
Due to related party | $ 3,650 | $ 221 | ||||
Interest payable | $ 10,188 | 0 | ||||
Class B preferred stock issued | 5,000,000 | 5,000,000 | ||||
Repayment to related party | $ 3,543 | |||||
Zeroblast Services Ltd [Member] | ||||||
Interest payable | 10,188 | 0 | ||||
CEO Chris Brown [Member] | ||||||
Repayment to related party | $ 2,381 | 303 | ||||
Advanced by related parties | 891 | $ 4,807 | $ 221 | |||
Demetrios Malamas [Member] | ||||||
Advanced by related parties | $ 82 | |||||
Lucille Zdunich [Member] | Preferred Class B Stock [Member] | ||||||
Class B preferred stock issued | 5,000,000 | |||||
Preferred stock per value | $ 0.0001 | |||||
Advanced to Company | $ 333 | |||||
December 29 2022 [Member] | Zeroblast Services Ltd [Member] | ||||||
Interest rate | 7% | |||||
Issuence of promissory Note | $ 100,000 | |||||
Due to related party | $ 100,000 |
STOCKHOLDERS EQUITY (Details Na
STOCKHOLDERS EQUITY (Details Narrative) - USD ($) | 6 Months Ended | |||
Jun. 30, 2017 | Sep. 30, 2023 | Jun. 30, 2023 | Jun. 07, 2023 | |
Common stock shares authorized | 1,000,000,000 | 1,000,000,000 | ||
Common stock shares par value | $ 0.001 | |||
Common stock shares issued | 6,087,500 | 6,087,500 | ||
Common stock shares outstanding | 6,087,500 | 6,087,500 | ||
Common stock total shares issued | 1,087,500 | |||
Cash proceeds | $ 1,080 | |||
Preferred stock shares authorized | 10,000,000 | 10,000,000 | ||
Preferred stock shares par value | $ 0.00001 | $ 0.00001 | ||
Preferred stock issued | 5,000,000 | 5,000,000 | ||
Lucille Zdunich [Member] | Preferred Class B Stock [Member] | ||||
Preferred stock issued | 5,000,000 | |||
Preferred stock per value | $ 0.0001 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Details Narrative) - New Rental Agreement [Member] - USD ($) | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Rent expense | $ 0 | $ 2,226 |
Description of rent | the Company has entered into a new rental agreement for a $371 monthly fee, starting on December 1, 2020, for a period of one year. In January 2022, the Company extended the lease agreement for a period of one year. The lease was terminated in July 2022 |