Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2018 | Dec. 05, 2018 | |
Document And Entity Information | ||
Entity Registrant Name | CannAssist International Corp | |
Entity Central Index Key | 1,709,542 | |
Document Type | 10-Q/A | |
Document Period End Date | Jun. 30, 2018 | |
Amendment Flag | true | |
Amendment Description | <b>Explanatory Note:</b> The June 30, 2018 financial statements are being restated to correct the accounting for sales, accounts receivable, cost of sales, accounts payable and the way monies received and paid are accounted for. In addition, the Company is specifying a sale as related party.The Company recognized a large sale and the corresponding cost of sales in the second quarter. This sale should have been recognized in the third quarter.</font></p>" id="sjs-B9"><p><font style="font: 10pt Times New Roman, Times, Serif"><b>Explanatory Note:</b> The June 30, 2018 financial statements are being restated to correct the accounting for sales, accounts receivable, cost of sales, accounts payable and the way monies received and paid are accounted for. In addition, the Company is specifying a sale as related party.The Company recognized a large sale and the corresponding cost of sales in the second quarter. This sale should have been recognized in the third quarter.</font></p> | |
Current Fiscal Year End Date | --12-31 | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Ex Transition Period | false | |
Entity's Reporting Status Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Common Stock, Shares Outstanding | 12,100,000 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2,018 |
Condensed Balance Sheets (unaud
Condensed Balance Sheets (unaudited) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 |
Current assets: | ||
Cash | $ 1,308 | $ 380 |
Prepaid expenses | 81,940 | |
Total assets | 83,248 | 380 |
Current liabilities: | ||
Accounts payable | 775 | |
Accrued liabilities | 1,250 | 2,000 |
Customer deposits | 81,940 | |
Loan payable | 7,000 | 1,000 |
Total current liabilities | 90,965 | 3,000 |
Commitments and contingencies | ||
Stockholders' Equity (Deficit): | ||
Preferred stock, $0.0001 par value 20,000,000 shares authorized; none issued and outstanding | ||
Common Stock, $0.0001 par value, 100,000,000 shares authorized; 4,200,000 and 20,000,000 issued and outstanding, respectively | 420 | 2,000 |
Common stock to be issued | 1 | |
Additional paid in capital | 4,221 | 471 |
Accumulated deficit | (12,359) | (5,091) |
Total Stockholders' deficit | (7,717) | (2,620) |
Total Liabilities and Stockholders' Deficit | $ 83,248 | $ 380 |
Condensed Balance Sheets (una_2
Condensed Balance Sheets (unaudited) (Parenthetical) - $ / shares | Jun. 30, 2018 | Dec. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Preferred stock, per value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock,authorized | 20,000,000 | 20,000,000 |
Preferred stock, issued | 0 | 0 |
Preferred stock,outstanding | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock,authorized | 100,000,000 | 100,000,000 |
Common stock,issued | 4,200,000 | 20,000,000 |
Common stock,outstanding | 4,200,000 | 20,000,000 |
Condensed Statements of Operati
Condensed Statements of Operations (unaudited) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended |
Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2018 | |
Income Statement [Abstract] | |||
Revenue | $ 200 | $ 353 | |
Cost of revenue | 57 | 57 | |
Gross margin | 143 | 296 | |
Operating expenses: | |||
General and administrative | 3,312 | 808 | 856 |
Professional fees | 6,258 | 6,708 | |
Total operating expenses | 3,312 | 7,066 | 7,564 |
Loss before provision from income taxes | (3,312) | (6,923) | (7,268) |
Provision for income taxes | |||
Net loss | $ (3,312) | $ (6,923) | $ (7,268) |
Loss per share, basic and diluted (in dollars per share) | $ 0 | $ 0 | $ 0 |
Weighted average shares outstanding, basic and diluted (in shares) | 20,000,000 | 17,916,484 | 18,952,486 |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows (unaudited) - USD ($) | 1 Months Ended | 6 Months Ended |
Jun. 30, 2017 | Jun. 30, 2018 | |
Cash flows from operating activities: | ||
Net loss | $ (3,312) | $ (7,268) |
Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
Common stock issued for services | 2,000 | |
Expenses paid for by stockholder and contributed as capital | 312 | 1,750 |
Changes in Operating Assets and Liabilities: | ||
Prepaid expenses | (81,940) | |
Accrued liabilities | 1,000 | 25 |
Customer deposits | 81,940 | |
Net cash used in operating activities | (5,493) | |
Cash flows from Investing activities: | ||
Cash flows from Financing activities: | ||
Proceeds from loans | 6,000 | |
Proceeds from sale of common stock | 421 | |
Net cash provided by financing activities | 6,421 | |
Net increase in cash | 928 | |
Cash, beginning of period | 380 | |
Cash, end of period | 1,308 | |
Supplemental Disclosure of Cash Flow Information: | ||
Cash paid for interest | ||
Cash paid for taxes |
DESCRIPTION OF BUSINESS AND HIS
DESCRIPTION OF BUSINESS AND HISTORY | 6 Months Ended |
Jun. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
DESCRIPTION OF BUSINESS AND HISTORY | NOTE 1 - DESCRIPTION OF BUSINESS AND HISTORY Description of business CannAssist International Corp. (the “Company” “CannAssist”) was incorporated on May 17, 2017 under the laws of the state of Delaware under the name Iris Grove Acquisition Corporation to engage in any lawful corporate undertaking, including, but not limited to, selected mergers and acquisitions. On May 23, 2018 the Company changed its name to CannAssist International Corporation. The Company has been in the developmental stage since inception and its operations to date have been limited to issuing shares to its original shareholders and effecting a change in control. On June 18, 2018, the Company cancelled all 20,000,000 shares of its issued and outstanding stock and issued 4,200,000, shares of common stock pursuant to Section 4(a)(2) of the Securities Act of 1933 at par representing 100% of the total outstanding common stock. With the issuance of the stock and the redemption of the 20,000,000 shares of stock, the Company effected a change in its control and the new majority shareholder(s) elected new management of the Company. The Company intends to develop its business plan by acquiring Xceptor, LLC, a Wyoming corporation. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Jun. 30, 2018 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The Company’s restated unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The accompanying unaudited condensed financial statements reflect all adjustments, consisting of only normal recurring items, which, in the opinion of management, are necessary for a fair statement of the results of operations for the periods shown and are not necessarily indicative of the results to be expected for the full year ending December 31, 2018. 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 of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Revenue Recognition Revenue is recognized when a customer obtains control of promised goods or services and is recognized in an amount that reflects the consideration that an entity expects to receive in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The amount of revenue that is recorded reflects the consideration that the Company expects to receive in exchange for those goods. The Company applies the following five-step model in order to determine this amount: (i) identification of the promised goods in the contract; (ii) determination of whether the promised goods are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. Once a contract is determined to be within the scope of ASC 606 at contract inception, the Company reviews the contract to determine which performance obligations the Company must deliver and which of these performance obligations are distinct. The Company recognizes as revenues the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied or as it is satisfied. Generally, the Company's performance obligations are transferred to customers at a point in time, typically upon delivery. The Company recognizes revenue when product is shipped. The Company will often receive payment and/or pay for the cost of goods prior to shipping. When this occurs, the result is both a prepaid for the supplies to be used in their product and a customer deposit. As of June 30, 2018, the Company has a prepaid expense of $81,940 and customer deposits of $81,940, for orders to be shipped in Q3. Cost of Sales Cost of sales is determined on the basis of the cost of production or the purchase of goods, adjusted for the variation of inventory Cost of sale is recognized as the direct cost of products or services sold during the period. Recent Issued Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
GOING CONCERN
GOING CONCERN | 6 Months Ended |
Jun. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN | NOTE 3 - GOING CONCERN The accompanying restated unaudited condensed financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has an accumulated deficit of $12,359 as of June 30, 2018. The Company requires capital for its contemplated operational and marketing activities. The obtainment of additional financing, through an initial capital raise , |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 6 Months Ended |
Jun. 30, 2018 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 4 – RELATED PARTY TRANSACTIONS On June 18, 2018, the Company cancelled all 20,000,000 shares of its issued and outstanding stock and issued 4,200,000, shares of common stock pursuant to Section 4(a)(2) of the Securities Act of 1933 at par representing 100% of the total outstanding common stock. All shares were sold to related parties at par value of $0.0001 for total cash proceeds of $420. |
COMMON STOCK
COMMON STOCK | 6 Months Ended |
Jun. 30, 2018 | |
Stockholders' Equity Note [Abstract] | |
COMMON STOCK | NOTE 5 – COMMON STOCK During the six months ended June 30, 2018, the Company sold 10,000 shares of common stock for cash proceeds of $1. As of June 30, 2018, the shares had not yet been issued by the transfer agent so were credited to common stock to be issued. |
RESTATEMENT
RESTATEMENT | 6 Months Ended |
Jun. 30, 2018 | |
Restatement | |
RESTATEMENT | NOTE 6 – RESTATEMENT The June 30, 2018 financial statements are being restated to correct the accounting for sales, accounts receivable, cost of sales and accounts payable. The Company recognized a large sale and the corresponding cost of sales in the second quarter. This sale should have been recognized in the third quarter. The following table summarizes changes made to the Statement of Operations for the three months ended June 30, 2018. For the three months ended June 30, 2018 As Reported Adjustment As Restated Revenue $ 164,180 $ (163,980 ) $ 200 Cost of revenue 129,693 (129,636 ) 57 Gross margin 34,487 (34,344 ) 143 Operating expenses: General and administrative $ 808 $ - $ 856 Professional fees 6,258 - 6,708 Total operating expenses 7,066 - 7,564 Provision for income taxes (5,700 ) 5,700 - Net Income (Loss) $ 21,721 $ (28,644 ) $ (6,923 ) The following table summarizes changes made to the Statement of Operations for the six months ended June 30, 2018. For the six months ended June 30, 2018 As Reported Adjustment As Restated Revenue $ 164,333 $ (163,980 ) $ 353 Cost of revenue 129,693 (129,636 ) 57 Gross margin 34,640 (34,344 ) 296 Operating expenses: General and administrative $ 856 $ - $ 856 Professional fees 6,708 - 6,708 Total operating expenses 7,564 - 7,564 Provision for income taxes (5,700 ) 5,700 - Net Income (Loss) $ 21,376 $ (28,644 ) $ (7,268 ) The following table summarizes changes made to the balance sheet as of June 30, 2018. June 30, 2018 As Reported Adjustment As Restated Cash $ 1,308 $ - $ 1,308 Accounts receivable 82,040 (82,040 ) - Prepaid expenses - 81,940 81,940 Total assets 83,348 (100 ) 83,248 Accounts payable 48,471 (47,696 ) 775 Accrued liabilities 1,250 - 1,250 Customer deposits - 81,940 81,940 Loan payable 7,000 - 7,000 Accrual for income taxes 5,700 (5,700 ) - Total current liabilities $ 62,421 $ 28,544 $ 90,965 Common stock 420 - 420 Common stock to be issued 1 - 1 Additional paid in capital 4,221 - 4,221 Retained earnings (accumulated deficit) 16,285 (28,644 ) (12,359 ) Total Stockholders’ equity (deficit) 20,927 $ (28,644 ) $ (7,717 ) Total Liabilities and Stockholders’ Equity (Deficit) $ 83,348 $ (100 ) $ 83,248 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 6 Months Ended |
Jun. 30, 2018 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 7 – SUBSEQUENT EVENTS In accordance with SFAS 165 (ASC 855-10) management has performed an evaluation of subsequent events through the date that the financial statements were available to be issued, and through the date of the filing, and has determined that it does not have any material subsequent events to disclose in these financial statements other than the following. Subsequent to June 30, 2018 the Company sold 5,200,000 shares of common stock at par value of $0.0001 for total cash proceeds of $10,519. Subsequent to June 30, 2018 the Company issued the 10,000 shares of common stock that were sold and credited to common stock to be issued as of June 30, 2018. On July 12, 2018, the “Company, entered into a share exchange acquisition agreement with Xceptor LLC, a private company organized under the laws of Wyoming (“Xceptor”). The Acquisition was effected by the Company through the exchange of all the outstanding membership interests of Xceptor for 3,000,000 shares of common stock of the Company, valued at $0.0001 per share. At the time of the Acquisition, there was one shareholder of the Company who is also a shareholder and manager of Xceptor. Xceptor has become a wholly owned subsidiary of the Company and the Company has taken over its operations and business plan. Prior to the Acquisition, the Company had no ongoing business or operations. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 6 Months Ended |
Jun. 30, 2018 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The Company’s restated unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The accompanying unaudited condensed financial statements reflect all adjustments, consisting of only normal recurring items, which, in the opinion of management, are necessary for a fair statement of the results of operations for the periods shown and are not necessarily indicative of the results to be expected for the full year ending December 31, 2018. |
Use of Estimates | 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 of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Revenue Recognition | Revenue Recognition Revenue is recognized when a customer obtains control of promised goods or services and is recognized in an amount that reflects the consideration that an entity expects to receive in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The amount of revenue that is recorded reflects the consideration that the Company expects to receive in exchange for those goods. The Company applies the following five-step model in order to determine this amount: (i) identification of the promised goods in the contract; (ii) determination of whether the promised goods are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. Once a contract is determined to be within the scope of ASC 606 at contract inception, the Company reviews the contract to determine which performance obligations the Company must deliver and which of these performance obligations are distinct. The Company recognizes as revenues the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied or as it is satisfied. Generally, the Company's performance obligations are transferred to customers at a point in time, typically upon delivery. The Company recognizes revenue when product is shipped. The Company will often receive payment and/or pay for the cost of goods prior to shipping. When this occurs, the result is both a prepaid for the supplies to be used in their product and a customer deposit. As of June 30, 2018, the Company has a prepaid expense of $81,940 and customer deposits of $81,940, for orders to be shipped in Q3. |
Cost of Sales | Cost of Sales Cost of sales is determined on the basis of the cost of production or the purchase of goods, adjusted for the variation of inventory Cost of sale is recognized as the direct cost of products or services sold during the period. |
Recent Issued Accounting Pronouncements | Recent Issued Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
RESTATEMENT (Tables)
RESTATEMENT (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Restatement | |
Schedule of restatement | The following table summarizes changes made to the Statement of Operations for the three months ended June 30, 2018. For the three months ended June 30, 2018 As Reported Adjustment As Restated Revenue $ 164,180 $ (163,980 ) $ 200 Cost of revenue 129,693 (129,636 ) 57 Gross margin 34,487 (34,344 ) 143 Operating expenses: General and administrative $ 808 $ - $ 856 Professional fees 6,258 - 6,708 Total operating expenses 7,066 - 7,564 Provision for income taxes (5,700 ) 5,700 - Net Income (Loss) $ 21,721 $ (28,644 ) $ (6,923 ) The following table summarizes changes made to the Statement of Operations for the six months ended June 30, 2018. For the six months ended June 30, 2018 As Reported Adjustment As Restated Revenue $ 164,333 $ (163,980 ) $ 353 Cost of revenue 129,693 (129,636 ) 57 Gross margin 34,640 (34,344 ) 296 Operating expenses: General and administrative $ 856 $ - $ 856 Professional fees 6,708 - 6,708 Total operating expenses 7,564 - 7,564 Provision for income taxes (5,700 ) 5,700 - Net Income (Loss) $ 21,376 $ (28,644 ) $ (7,268 ) The following table summarizes changes made to the balance sheet as of June 30, 2018. June 30, 2018 As Reported Adjustment As Restated Cash $ 1,308 $ - $ 1,308 Accounts receivable 82,040 (82,040 ) - Prepaid expenses - 81,940 81,940 Total assets 83,348 (100 ) 83,248 Accounts payable 48,471 (47,696 ) 775 Accrued liabilities 1,250 - 1,250 Customer deposits - 81,940 81,940 Loan payable 7,000 - 7,000 Accrual for income taxes 5,700 (5,700 ) - Total current liabilities $ 62,421 $ 28,544 $ 90,965 Common stock 420 - 420 Common stock to be issued 1 - 1 Additional paid in capital 4,221 - 4,221 Retained earnings (accumulated deficit) 16,285 (28,644 ) (12,359 ) Total Stockholders’ equity (deficit) 20,927 $ (28,644 ) $ (7,717 ) Total Liabilities and Stockholders’ Equity (Deficit) $ 83,348 $ (100 ) $ 83,248 |
DESCRIPTION OF BUSINESS AND H_2
DESCRIPTION OF BUSINESS AND HISTORY (Details Narrative) - shares | Jun. 18, 2018 | Jun. 30, 2018 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Number of shares cancelled | 20,000,000 | |
Number of shares issued (in shares) | 4,200,000 | 10,000 |
Redemption shares of stock | 20,000,000 |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 |
Accounting Policies [Abstract] | ||
Prepaid expense | $ 81,940 | |
Customer deposits | $ 81,940 |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Retained earnings (accumulated deficit) | $ (12,359) | $ (5,091) |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | Jun. 18, 2018 | Jun. 30, 2018 |
Related Party Transactions [Abstract] | ||
Number of shares cancelled | 20,000,000 | |
Number of shares issued (in shares) | 4,200,000 | 10,000 |
Shares sold per share (in dollars per shares) | $ 0.0001 | |
Proceeds from issuance of common stock | $ 420 | $ 1 |
COMMON STOCK (Details Narrative
COMMON STOCK (Details Narrative) - USD ($) | Jun. 18, 2018 | Jun. 30, 2018 |
Stockholders' Equity Note [Abstract] | ||
Number of shares issued (in shares) | 4,200,000 | 10,000 |
Proceeds from issuance of common stock | $ 420 | $ 1 |
RESTATEMENT (Details)
RESTATEMENT (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended |
Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2018 | |
Revenue | $ 200 | $ 353 | |
Cost of revenue | 57 | 57 | |
Gross margin | 143 | 296 | |
Operating expenses: | |||
General and administrative | 3,312 | 808 | 856 |
Professional fees | 6,258 | 6,708 | |
Total operating expenses | 3,312 | 7,066 | 7,564 |
Provision for income taxes | |||
Net loss | $ (3,312) | (6,923) | (7,268) |
As Reported [Member] | |||
Revenue | 164,180 | 164,333 | |
Cost of revenue | 129,693 | 129,693 | |
Gross margin | 34,487 | 34,640 | |
Operating expenses: | |||
General and administrative | 808 | 856 | |
Professional fees | 6,258 | 6,708 | |
Total operating expenses | 7,066 | 7,564 | |
Provision for income taxes | (5,700) | (5,700) | |
Net loss | 21,721 | 21,376 | |
Restatement Adjustment [Member] | |||
Revenue | (163,980) | (163,980) | |
Cost of revenue | (129,636) | (129,636) | |
Gross margin | (34,344) | (34,344) | |
Operating expenses: | |||
General and administrative | |||
Professional fees | |||
Total operating expenses | |||
Provision for income taxes | 5,700 | 5,700 | |
Net loss | $ (28,644) | $ (28,644) |
RESTATEMENT (Details 1)
RESTATEMENT (Details 1) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 |
Cash | $ 1,308 | $ 380 |
Prepaid expenses | 81,940 | |
Total assets | 83,248 | 380 |
Accounts payable | 775 | |
Accrued liabilities | 1,250 | 2,000 |
Customer deposits | 81,940 | |
Loan payable | 7,000 | 1,000 |
Total current liabilities | 90,965 | 3,000 |
Common stock | 420 | 2,000 |
Common stock to be issued | 1 | |
Additional paid in capital | 4,221 | 471 |
Retained earnings (accumulated deficit) | (12,359) | (5,091) |
Total Stockholders' equity (deficit) | (7,717) | (2,620) |
Total Liabilities and Stockholders' Equity (Deficit) | 83,248 | $ 380 |
As Reported [Member] | ||
Cash | 1,308 | |
Accounts receivable | 82,040 | |
Prepaid expenses | ||
Total assets | 83,348 | |
Accounts payable | 48,471 | |
Accrued liabilities | 1,250 | |
Customer deposits | ||
Loan payable | 7,000 | |
Accrual for income taxes | 5,700 | |
Total current liabilities | 62,421 | |
Common stock | 420 | |
Common stock to be issued | 1 | |
Additional paid in capital | 4,221 | |
Retained earnings (accumulated deficit) | 16,285 | |
Total Stockholders' equity (deficit) | 20,927 | |
Total Liabilities and Stockholders' Equity (Deficit) | 83,348 | |
Restatement Adjustment [Member] | ||
Cash | ||
Accounts receivable | (82,040) | |
Prepaid expenses | 81,940 | |
Total assets | (100) | |
Accounts payable | (47,696) | |
Accrued liabilities | ||
Customer deposits | 81,940 | |
Loan payable | ||
Accrual for income taxes | (5,700) | |
Total current liabilities | 28,544 | |
Common stock | ||
Common stock to be issued | ||
Additional paid in capital | ||
Retained earnings (accumulated deficit) | (28,644) | |
Total Stockholders' equity (deficit) | (28,644) | |
Total Liabilities and Stockholders' Equity (Deficit) | $ (100) |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) - USD ($) | Jul. 12, 2018 | Jul. 02, 2018 | Jun. 18, 2018 | Jun. 30, 2018 |
Subsequent Event [Line Items] | ||||
Shares of common stock sold (in shares) | 4,200,000 | 10,000 | ||
Shares sold per share (in dollars per shares) | $ 0.0001 | |||
Total cash proceeds | $ 420 | $ 1 | ||
Subsequent Event [Member] | ||||
Subsequent Event [Line Items] | ||||
Shares of common stock sold (in shares) | 5,200,000 | |||
Shares sold per share (in dollars per shares) | $ 0.0001 | |||
Total cash proceeds | $ 10,519 | |||
Subsequent Event [Member] | Exchange acquisition agreement [Member] | Xceptor LLC [Member] | ||||
Subsequent Event [Line Items] | ||||
Number of shares exchange in business acquisition (in shares) | 3,000,000 | |||
Business acquisition, share price (in dollars per share) | $ 0.0001 |