Document and Entity Information
Document and Entity Information - USD ($) | 3 Months Ended | |
Jan. 31, 2018 | Feb. 20, 2018 | |
Document And Entity Information | ||
Entity Registrant Name | Atlantic Acquisition II, Inc. | |
Entity Central Index Key | 1,714,232 | |
Document Type | 10-Q | |
Document Period End Date | Jan. 31, 2018 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --03-31 | |
Is Entity's Reporting Status Current? | No | |
Entity Ex Transition Period | false | |
Entity Filer Category | Non-accelerated Filer | |
Is Entity a Small Business? | true | |
Is Entity an Emerging Growth Company | true | |
Entity Public Float | $ 0 | |
Entity Common Stock, Shares Outstanding | 21,000,000 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2,018 |
Balance Sheets (unaudited)
Balance Sheets (unaudited) - USD ($) | Jan. 01, 2018 | Jul. 31, 2017 |
ASSETS | ||
Total assets | $ 0 | $ 0 |
Current liabilities | ||
Due to Related Party | 9,949 | 6,000 |
Total current liabilities | 9,949 | 6,000 |
Stockholders' deficit | ||
Preferred stock, $0.0001 par value; 25,000,000 shares authorized; no shares issued and outstanding as of December 31, 2017 and September 30, 2017 | ||
Common stock, $0.0001 par value; 175,000,000 shares authorized; 21,000,000 shares issued and outstanding as of December 31, 2017 and September 30, 2017 | 2,000 | 2,000 |
Additional paid in capital | 23,750 | 23,750 |
Accumulated deficit | (35,699) | (31,750) |
Total stockholders' deficit | (9,949) | (6,000) |
Total liabilities and stockholders' deficit | $ 0 | $ 0 |
Balance Sheets (unaudited) (Par
Balance Sheets (unaudited) (Parenthetical) - $ / shares | Jan. 01, 2018 | Jul. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Common stock par value | $ 0.0001 | $ 0.0001 |
Common stock shares authorized | 300,000,000 | 300,000,000 |
Common stock shares issued | 20,000,000 | 20,000,000 |
Common stock shares outstanding | 20,000,000 | 20,000,000 |
Preferred stock par value | $ .0001 | $ 0.0001 |
Preferred stock shares authorized | 20,000,000 | 20,000,000 |
Preferred stock shares issued | 0 | 0 |
Preferred stock shares outstanding | 0 | 0 |
Statements of Operations (unaud
Statements of Operations (unaudited) - USD ($) | 3 Months Ended | 17 Months Ended |
Jan. 31, 2018 | Dec. 31, 2018 | |
Operating expenses | ||
General and Administrative expenses | $ 3,949 | $ 3,949 |
Total operating expenses | 3,949 | 3,949 |
Net loss | $ (3,949) | $ (3,949) |
Basic and diluted net loss per common share | $ 0 | $ 0 |
Basic and diluted weighted average common shares outstanding | 20,000,000 | 20,000,000 |
Statements of Cash Flows (unaud
Statements of Cash Flows (unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | 17 Months Ended |
Jan. 31, 2018 | Jan. 31, 2018 | Dec. 31, 2018 | |
Statement of Cash Flows [Abstract] | |||
Net loss | $ (3,949) | $ (3,949) | $ (3,949) |
Expenses paid by related party on behalf of Company- due to related party | 3,949 | 3,949 | |
Net cash used in operating activities | |||
Net change in cash | |||
Cash, end of period | |||
Supplemental cash flow information | |||
Income taxes |
Shareholders Equity (Unaudited)
Shareholders Equity (Unaudited) - USD ($) | Common Stock | Additional Paid-In Capital | Accumulated Deficit | Total |
Beginning balance, shares at Jun. 28, 2017 | ||||
Beginning balance, value at Jun. 28, 2017 | ||||
Shares issued to directors for services (inception)- shares | 16,200,000 | |||
Shares issued to directors for services inception) - shares | $ 1,620 | 14,580 | $ 16,200 | |
Shares issued for services (inception) - shares | 3,800,000 | |||
Shares issued for services (inception) - value | $ 380 | 3,420 | 3,800 | |
Expenses paid by related party contributed to capital | 5,750 | 5,750 | ||
Net loss | (31,750) | (31,750) | ||
Ending balance, shares at Jul. 31, 2017 | 20,000,000 | |||
Ending balance, value at Jul. 31, 2017 | $ 2,000 | 23,750 | (31,750) | (6,000) |
Net loss | (3,949) | (3,949) | ||
Ending balance, shares at Jan. 31, 2018 | 20,000,000 | |||
Ending balance, value at Jan. 31, 2018 | $ 2,000 | $ 23,750 | $ (35,699) | $ (9,949) |
1 - NATURE OF BUSINESS
1 - NATURE OF BUSINESS | 3 Months Ended |
Jan. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Business | Note 1 - Nature of Business Atlantic Acquisition II, Inc. (the “Company”) was incorporated under the laws of the State of Nevada on June 29, 2017 with the principal business objective of merging with or being acquired by another entity and is therefore a blank check company. The Company has not commenced significant operations. The Company has elected a fiscal year end of July 31. |
2. SIGNIFICANT ACCOUNTING POLIC
2. SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended |
Jan. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
SIGNIFICANT ACCOUNTING POLICIES | Note 2 – SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited interim financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows as of January 31, 2018, and for all periods presented herein, have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted. Notes to the financial statements which would substantially duplicate the disclosures contained in the audited financial statements for the most recent fiscal period, as reported in the Form S-1, have been omitted. It is suggested that these unaudited interim financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s July 31, 2017 financial statements. The results of operations for the six months ended January 31, 2018 are not necessarily indicative of the operating results for the full year. 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 expenses during the reporting period. Actual results could differ from those estimates. Going Concern The Company’s financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern. This contemplates the realization of assets and liabilities in the normal course of business. For the period August 1, 2017 through January 31, 2018 and November 1, 2017 to January 31, 2018 the Company has a net loss of approximately $4,000 and an accumulated deficit of approximately $36,000 and $32,000 as of January 31, 2018 and July 31, 2017, respectively. Currently the Company does not have cash and no material assets, nor does it have operations or a source of revenue sufficient to cover its operational costs and allow it to continue as a going concern. The Company will be dependent upon the raising of additional capital through the placement of our common stock in order to implement its business plan, or merge with an operating company. There can be no assurance that the Company will be successful in either situation in order to continue as a going concern. The officers and directors have committed to advancing certain operating costs of the Company. Recent Accounting Pronouncements In January 2017, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2017-01, “Business Combinations (Topic 805) – Clarifying the Definition of a Business, to clarify the definition of a business, which is fundamental in the determination of whether transactions should be accounted for as acquisition (or disposals) of assets or businesses. The guidance is generally expected to result in fewer transactions qualifying as business combinations. For the Company, the standard is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. As described in Note 1, the Company is actively seeking a transaction with another Company. Once the transaction is completed the adoption of the new standard will have a material impact on our financial statements. |
3. RELATED PARTY TRANSACTIONS
3. RELATED PARTY TRANSACTIONS | 3 Months Ended |
Jan. 31, 2018 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | Note 3 - RELATED PARTY TRANSACTIONS The Company has a related party note payable to one of the stockholders of the Company as of January 31, 2018 of approximately $10,000 and as of July 31, 2017 approximately $6,000. The note payable is non-interest bearing and due on demand. |
4. STOCKHOLDERS_ DEFICIT
4. STOCKHOLDERS’ DEFICIT | 3 Months Ended |
Jan. 31, 2018 | |
Accounting Policies [Abstract] | |
4. STOCKHOLDERS DEFICIT | Note 4 – STOCKHOLDERS’ DEFICIT During November 2017, the Company amended their Articles of Incorporation to increase the number of authorized shares of stock to 320,000,000 consisting of 300,000,000 shares of common stock par value $.0001 and preferred stock with par value of $.0001. The holders of common stock are entitled to one vote for each share of stock and to receive dividends declared by the Board of Directors. As of January 31, 2018, there were 20,000,000 shares of common stock outstanding. As of January 31, 2018 there were no shares of preferred stock issued and outstanding. The rights and terms of preferred stockholders are to be determined by the Board of Directors at the time of their issuance. |