EvoAir (EVOH) 10-Q 20 Jul 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	May 31, 2021	Jul. 19, 2021
Cover [Abstract]
Entity Registrant Name	UNEX HOLDINGS INC.
Entity Central Index Key	0001700844
Document Type	10-Q
Document Period End Date	May 31, 2021
Amendment Flag	false
Current Fiscal Year End Date	--08-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	true
Entity Common Stock, Shares Outstanding		2,970,000
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2021

Condensed Balance Sheets (Unaud

Condensed Balance Sheets (Unaudited) - USD ($)	May 31, 2021	Aug. 31, 2020
Current Assets
Cash		$ 5,676
Total current assets		5,676
Non-Current assets
Equipment net of depreciation		343
Total non-current assets		343
Total Assets		6,019
Current Liabilities
Loan from related parties		9,217
Stock Refund Payable		1,950
Accrued Expenses	3,530
Amount due to a related party	25,610	233
Total current liabilities	29,140	11,400
Total Liabilities	29,140	11,400
Stockholders' Equity
Common stock, $0.001 par value, 75,000,000 shares authorized; 2,970,000 shares issued and outstanding at May 31, 2021 and August 31,2020 respectively	2,970	2,970
Additional Paid-In-Capital	36,022	22,730
Accumulated Deficit	(68,132)	(31,081)
Total Stockholders' Equity (Deficit)	(29,140)	(5,381)
Total Liabilities and Stockholders' Equity		$ 6,019

Condensed Balance Sheets (Una_2

Condensed Balance Sheets (Unaudited) (Parenthetical) - $ / shares	May 31, 2021	Aug. 31, 2020
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 issued	2,970,000	2,970,000
Common stock, shares outstanding	2,970,000	2,970,000

Condensed Statements of Loss (U

Condensed Statements of Loss (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	May 31, 2021	May 31, 2020	May 31, 2021	May 31, 2020
Operating expenses
General and administrative expenses	$ 29,134	$ 2,090	$ 37,051	$ 11,758
Loss before income tax expenses	(29,134)	(2,090)	(37,051)	(11,758)
Income tax expenses
Net loss	$ (29,134)	$ (2,090)	$ (37,051)	$ (11,758)
Loss per common share:
Basic and Diluted	$ (0.01)	$ 0	$ (0.01)	$ 0
Weighted Average Number of Common Shares Outstanding:
Basic and Diluted	2,970,000	2,970,000	2,970,000	3,001,296

Condensed Statement of Changes

Condensed Statement of Changes in Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Total
Balance at Aug. 31, 2019	$ 2,970	$ 22,730	$ (16,717)	$ 8,983
Balance, shares at Aug. 31, 2019	2,970,000
Shares issued at $0.03	$ 65	1,885		1,950
Shares issued at $0.03, shares	65,000
Net loss			(5,100)	(5,100)
Balance at Nov. 30, 2019	$ 3,035	24,615	(21,817)	5,833
Balance, shares at Nov. 30, 2019	3,035,000
Balance at Aug. 31, 2019	$ 2,970	22,730	(16,717)	8,983
Balance, shares at Aug. 31, 2019	2,970,000
Net loss				(11,758)
Balance at May. 31, 2020	$ 2,970	22,730	(28,475)	(2,775)
Balance, shares at May. 31, 2020	2,970,000
Balance at Aug. 31, 2019	$ 2,970	22,730	(16,717)	8,983
Balance, shares at Aug. 31, 2019	2,970,000
Common Shares cancelled	$ 65,000
Balance at Aug. 31, 2020	$ 2,970	22,730	(31,080)	(5,381)
Balance, shares at Aug. 31, 2020	2,970,000
Balance at Nov. 30, 2019	$ 3,035	24,615	(21,817)	5,833
Balance, shares at Nov. 30, 2019	3,035,000
Common Shares cancelled	$ (65)	(1,885)		(1,950)
Common Shares cancelled, shares	(65,000)
Net loss			(4,568)	(4,568)
Balance at Feb. 29, 2020	$ 2,970	22,730	(26,385)	(685)
Balance, shares at Feb. 29, 2020	2,970,000
Net loss			(2,090)	(2,090)
Balance at May. 31, 2020	$ 2,970	22,730	(28,475)	(2,775)
Balance, shares at May. 31, 2020	2,970,000
Balance at Aug. 31, 2020	$ 2,970	22,730	(31,080)	(5,381)
Balance, shares at Aug. 31, 2020	2,970,000
Net loss			(5,773)	(5,773)
Balance at Nov. 30, 2020	$ 2,970	22,730	(36,854)	(11,154)
Balance, shares at Nov. 30, 2020	2,970,000
Balance at Aug. 31, 2020	$ 2,970	22,730	(31,080)	(5,381)
Balance, shares at Aug. 31, 2020	2,970,000
Net loss				(37,051)
Balance at May. 31, 2021	$ 2,970	36,022	(68,132)	(29,140)
Balance, shares at May. 31, 2021	2,970,000
Balance at Nov. 30, 2020	$ 2,970	22,730	(36,854)	(11,154)
Balance, shares at Nov. 30, 2020	2,970,000
Forgiveness of loan from related party and stock refund payable		13,292		13,292
Net loss			(2,144)	(2,144)
Balance at Feb. 28, 2021	$ 2,970	36,022	(38,998)	(6)
Balance, shares at Feb. 28, 2021	2,970,000
Net loss			(29,134)	(29,134)
Balance at May. 31, 2021	$ 2,970	$ 36,022	$ (68,132)	$ (29,140)
Balance, shares at May. 31, 2021	2,970,000

Condensed Statement of Change_2

Condensed Statement of Changes in Equity (Unaudited) (Parenthetical)	Nov. 30, 2019$ / shares
Statement of Stockholders' Equity [Abstract]
Shares issued, price per share	$ 0.03

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	May 31, 2021	May 31, 2020
Cash flows from Operating Activities
Net loss	$ (37,051)	$ (11,758)
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation expenses	158	158
Loan from former shareholder	2,350
Changes in operating assets and liabilities:
Subscription Receivable		1,800
Increase in amount due to a related party	25,377	780
Increase in accrued expenses	3,530
Write off of cash Balance	(40)
Net cash used in operating activities	(5,676)	(6,930)
Cash flow from Financing Activities
Proceeds from sale of common stock		1,950
Net cash provided financing activities		1,950
Net increase (decrease) in cash and equivalents	(5,676)	(4,980)
Cash at beginning of the period	5,676	15,740
Cash at end of the period		10,760
Cash paid for:
Interest
Taxes
Supplemental disclosure of non-cash investing and financing information:
Repurchase of common stock for refund payable		1,950
Increase additional paid in capital due to loan forgiveness and write off of fixed assets	$ 13,292

Organization and Business

Organization and Business	9 Months Ended
	May 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business	NOTE 1 – ORGANIZATION AND BUSINESS UNEX HOLDINGS INC. (the “Company”) is a corporation established under the corporation laws in the State of Nevada on February 17, 2017. The Company has adopted August 31 fiscal year end. The Company is a development stage company and intends to provide geodesy services.

Going Concern

Going Concern	9 Months Ended
	May 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern	NOTE 2 – GOING CONCERN The Company’s financial statements as of May 31, 2021, is 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 incurred net loss of $29,134 and $2,090 for three months ended May 31, 2021 and 2020, respectively, and $37,051 $11,758 for the nine months ended May 31, 2021 and 2020, respectively. As of May 31, 2021 and August 31, 2020, the company had net current liability of $29,140 and $5,381, respectively, and a deficit on total equity of $29,140 and $5,381, respectively. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s 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.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	May 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The accompanying unaudited condensed financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information, and with the rules and regulations of the United States Securities and Exchange Commission (the “SEC”) set forth in Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The unaudited condensed financial statements furnished reflect all adjustments (consisting of normal recurring accruals) which are, in the opinion of management, necessary to a fair statement of the results for the interim periods presented. Unaudited condensed results are not necessarily indicative of the results for the full fiscal year. These financial statements should be read along with the financial statements of the Company for the period ended August 31, 2020 and notes thereto contained in the Company’s Form 10-K. 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 management’s estimates and assumptions. 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). A valuation allowance related to a deferred tax asset is recorded when it is more likely than not that some portion of the deferred tax asset will not be realized. 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. Property and Equipment Depreciation Policy 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. Recently issued 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. Fair Value Measurements The company adopted the provisions of ASC Topic 820, “Fair Value Measurements and Disclosures”, which defines fair value as used in numerous accounting pronouncements, establishes a framework for measuring fair value and expands disclosure of fair value measurements. The estimated fair value of certain financial instruments, including cash and cash equivalents are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments. ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value: Level 1 — quoted prices in active markets for identical assets or liabilities Level 2 — quoted prices for similar assets and liabilities in active markets or inputs that are observable Level 3 — inputs that are unobservable (for example cash flow modeling inputs based on assumptions) The company has no assets or liabilities valued at fair value on a recurring basis.

Equipment

Equipment	9 Months Ended
	May 31, 2021
Property, Plant and Equipment [Abstract]
Equipment	NOTE 4 – EQUIPMENT On September 24, 2018, the company purchased computer for $950. The Company depreciates this asset over a period of thirty-three (36) months which has been deemed its useful life. On February 28, 2021, the Company wrote off the computer based on the terms of the Agreement (defined hereunder) disclosed in Note 7 wherein Veniamin Minkov warranted that on the Effective Date (defined hereunder) the Company will have no assets and no debt of any kind including no outstanding tax liabilities and that all existing contracts entered into by the Company shall be cancelled without liability.

Common Stock

Common Stock	9 Months Ended
	May 31, 2021
Equity [Abstract]
Common Stock	NOTE 5 – COMMON STOCK The Company has 75,000,000 shares of common stock authorized with a par value of $0.001 per share. For the year ended August 31, 2020, the Company cancelled 65,000 of its common stock and accrued a stock refund payable of $1,950. The Company wrote-off stock refund payable of $1,950 based on the terms of the Agreement (defined hereunder) disclosed in Note 7 wherein Veniamin Minkov warranted that on the Effective Date (defined hereunder) the Company will have no assets and no debt of any kind including no outstanding tax liabilities and that all existing contracts entered into by the Company shall be cancelled without liability. As of May 31, 2021, and August 31, 2020, the Company had 2,970,000 shares issued and outstanding.

Related Party Transactions

Related Party Transactions	9 Months Ended
	May 31, 2021
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 6 – RELATED PARTY TRANSACTIONS In support of the Company’s 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 February 17, 2017 (Inception) through February 28, 2021, the Company’s sole officer and director loaned the Company $11,567 to pay for incorporation costs and operating expenses. The loan is non-interest bearing, due upon demand and unsecured. Veniamin Minkov, confirmed to the Board of Directors (“Board”) of the Company to forgive the loan extended by him to the Company amounting to $11,567. The Company wrote off cash balance of $40 and carrying amount of a fixed asset of $185 against a loan from related party of $11,567. The balance of the loan from related party and stock refund payable of $1,950 amounting to $13,292 were written off against additional paid- in capital. In addition, based on the terms of the Agreement (defined hereunder) disclosed in Note 7 wherein Veniamin Minkov warranted that on the Effective Date (defined hereunder) the Company will have no assets and no debt of any kind including no outstanding tax liabilities and that all existing contracts entered into by the Company shall be cancelled without liability. As of May 31, 2021, amount due to a related party amounting $25,610 is an advance from a company related to the Company’s sole officer and director, Dr Low Wai Koon to pay for operating expenses. The amount is non-interest bearing, due upon demand and unsecured.

Change of Control

Change of Control	9 Months Ended
	May 31, 2021
Change Of Control
Change of Control	NOTE 7 – CHANGE OF CONTROL Pursuant to the terms of the Securities Purchase Agreement dated February 26, 2021, by and among Veniamin Minkov, the former sole officer, director, and majority stockholder of the Company and Low Wai Koon (the “Agreement”), effective February 26, 2021 (the “Effective Time”), Veniamin Minkov, the then sole executive officer and director of the Company and the owner of 2,000,000 restricted shares of the Company’s common stock representing 67.34% of the Company’s issued and outstanding common stock (“Unex Shares”), sold the Unex Shares to Low Wai Koon for an aggregate consideration of $340,000, or approximately $0.17 per share. In addition, certain stockholders purchased 966,000 shares of the Company’s common stock in a series of private transactions for $0.05176 a share from non-affiliates of the Company (the “Non-Affiliate Shares”). Upon completion of the purchase of the Unex Shares, Low Wai Koon owned 2,000,000 shares, or approximately 67.34% of the issued and outstanding common stock of the Company, which resulted in a change of control of the Company. Upon completion of the Non-Affiliate Shares, certain stockholders owned 966,000 shares or approximately 32.53% of the issued and outstanding common stock of the Company. In connection with the Agreement, on February 26, 2021, Veniamin Minkov resigned as the President, Treasurer, and Secretary of the Company and Chairman of the Board of the “Company. Mr. Minkov’s resignation as President, Treasurer, and Secretary of the Company and Chairman of the Board is effective immediately. Mr. Minkov’s resignation as a director will become effective ten (10) days following the filing by the Company of the Information Statement on Schedule 14f-1 with the United States Securities and Exchange Commission. Prior to Mr. Minkov’s resignation, he appointed Low Wai Koon as the Company’s director and Chairman of the Board, Chief Executive Officer, Chief Financial Officer, President, Secretary and Treasurer, of the Company. In accordance with the terms of the Agreement, Veniamin Minkov warranted that on the Effective Date the Company will have no assets and no debt of any kind including no outstanding tax liabilities and that all existing contracts entered into by the Company shall be cancelled without liability.

Subsequent Events

Subsequent Events	9 Months Ended
	May 31, 2021
Subsequent Events [Abstract]
Subsequent Events	NOTE 8 - Subsequent Events The Company has evaluated all events that occurred after the balance sheet date of May 31, 2021 through the date these financial statements were issued, and did not have any material recognizable subsequent events after May 31, 2021

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	May 31, 2021
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The accompanying unaudited condensed financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information, and with the rules and regulations of the United States Securities and Exchange Commission (the “SEC”) set forth in Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The unaudited condensed financial statements furnished reflect all adjustments (consisting of normal recurring accruals) which are, in the opinion of management, necessary to a fair statement of the results for the interim periods presented. Unaudited condensed results are not necessarily indicative of the results for the full fiscal year. These financial statements should be read along with the financial statements of the Company for the period ended August 31, 2020 and notes thereto contained in the Company’s Form 10-K.
Use of Estimates	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 management’s estimates and assumptions.
Income Taxes	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). A valuation allowance related to a deferred tax asset is recorded when it is more likely than not that some portion of the deferred tax asset will not be realized. 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.
Property and Equipment Depreciation Policy	Property and Equipment Depreciation Policy 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.
Recently issued Accounting Pronouncements	Recently issued 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.
Fair Value Measurements	Fair Value Measurements The company adopted the provisions of ASC Topic 820, “Fair Value Measurements and Disclosures”, which defines fair value as used in numerous accounting pronouncements, establishes a framework for measuring fair value and expands disclosure of fair value measurements. The estimated fair value of certain financial instruments, including cash and cash equivalents are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments. ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value: Level 1 — quoted prices in active markets for identical assets or liabilities Level 2 — quoted prices for similar assets and liabilities in active markets or inputs that are observable Level 3 — inputs that are unobservable (for example cash flow modeling inputs based on assumptions) The company has no assets or liabilities valued at fair value on a recurring basis.

Going Concern (Details Narrativ

Going Concern (Details Narrative) - USD ($)	3 Months Ended						9 Months Ended
	May 31, 2021	Feb. 28, 2021	Nov. 30, 2020	May 31, 2020	Feb. 29, 2020	Nov. 30, 2019	May 31, 2021	May 31, 2020	Aug. 31, 2020	Aug. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss	$ (29,134)	$ (2,144)	$ (5,773)	$ (2,090)	$ (4,568)	$ (5,100)	$ (37,051)	$ (11,758)
Net current liability	29,140						29,140		$ 11,400
Deficit on total equity	$ (29,140)	$ (6)	$ (11,154)	$ (2,775)	$ (685)	$ 5,833	$ (29,140)	$ (2,775)	$ (5,381)	$ 8,983

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details Narrative)	9 Months Ended
	May 31, 2021
Accounting Policies [Abstract]
Property and equipment estimated useful life of asset	3 years

Equipment (Details Narrative)

Equipment (Details Narrative) - USD ($)	Sep. 24, 2018	May 31, 2021
Property, plant and equipment, useful life		3 years
Computer Equipment [Member]
Purchase for computer	$ 950
Property, plant and equipment, useful life	36 months

Common Stock (Details Narrative

Common Stock (Details Narrative) - USD ($)	3 Months Ended	12 Months Ended
	Feb. 29, 2020	Aug. 31, 2020	May 31, 2021
Common stock, shares authorized		75,000,000	75,000,000
Common stock, par value		$ 0.001	$ 0.001
Common shares cancelled	$ (1,950)
Stock refund payable		$ 1,950
Common stock, shares issued		2,970,000	2,970,000
Common stock, shares outstanding		2,970,000	2,970,000
Common Stock [Member]
Common shares cancelled	$ (65)	$ 65,000

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	48 Months Ended
	Feb. 28, 2021	May 31, 2021
Due to related party		$ 25,610
Veniamin Minkov [Member]
Loan from related party	$ 11,567
Loan forgiveness	11,567
Debt instrument cash balance wrote off	40
Debt instrument fixed asset wrote off	185
Loan from related party and stock refund payable	1,950
Written off against additional paid- in capital	$ 13,292

Change of Control (Details Narr

Change of Control (Details Narrative) - USD ($)	Feb. 26, 2021	Nov. 30, 2019
Shares issued, price per share		$ 0.03
Non Affiliates [Member]
Percentage for issued and outstanding common stock	32.53%
Number of common stock issued	966,000
Low Wai Koon [Member]
Percentage for issued and outstanding common stock	67.34%
Number of common stock issued	2,000,000
Veniamin Minkov [Member] | Securities Purchase Agreement [Member] | Non Affiliates [Member]
Shares issued, price per share	$ 0.05176
Number of common stock issued	966,000
Veniamin Minkov [Member] | Securities Purchase Agreement [Member] | Low Wai Koon [Member]
Number of restricted shares	2,000,000
Percentage for issued and outstanding common stock	67.34%
Number of restricted shares, value	$ 340,000
Shares issued, price per share	$ 0.17