Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Mar. 31, 2021 | Apr. 23, 2021 | |
Details | ||
Registrant CIK | 0001714367 | |
Fiscal Year End | --06-30 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2021 | |
Entity File Number | 333-221302 | |
Entity Registrant Name | SIGMARENOPRO INC | |
Entity Incorporation, State or Country Code | NV | |
Entity Tax Identification Number | 38-4045138 | |
Entity Address, Address Line One | Aloni Noa’kh St. 1 | |
Entity Address, City or Town | Kiryat Motzkin | |
Entity Address, Postal Zip Code | 26402 | |
Entity Address, Country | IL | |
City Area Code | 972 | |
Local Phone Number | 03-6860331 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | No | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | true | |
Entity Common Stock, Shares Outstanding | 4,500,000 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q3 | |
Document Quarterly Report | true | |
Document Transition Report | false |
Balance Sheets
Balance Sheets - USD ($) | Mar. 31, 2021 | Jun. 30, 2020 |
Current assets | ||
Cash held in trust | $ 7,866 | $ 5,566 |
Prepaid expenses | 25 | 838 |
Total current assets | 7,891 | 6,404 |
Total assets | 7,891 | 6,404 |
Current liabilities | ||
Due to related parties | 28,000 | 6,000 |
Short term fund | 4,116 | 4,116 |
Accounts payable | 10,645 | 5,607 |
Total current liabilities | 42,761 | 15,723 |
STOCKHOLDERS' EQUITY: | ||
Common stock: $0.001 par value, 75,000,000 shares authorized, 4,500,000 and 4,500,000 shares issued and outstanding as of March 31, 2021 and June 30, 2020, respectively | 4,500 | 4,500 |
Additional paid-in capital | 68,900 | 68,900 |
Accumulated deficit | (108,270) | (82,719) |
Total stockholders' equity (deficit) | (34,870) | (9,319) |
Total liabilities and stockholders' equity | $ 7,891 | $ 6,404 |
Balance Sheets - Parenthetical
Balance Sheets - Parenthetical - $ / shares | Mar. 31, 2021 | Jun. 30, 2020 |
Details | ||
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 75,000,000 | 75,000,000 |
Common Stock, Shares, Issued | 4,500,000 | 4,500,000 |
Common Stock, Shares, Outstanding | 4,500,000 | 4,500,000 |
Statements of Operations
Statements of Operations - USD ($) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2021 | Mar. 31, 2020 | |
Details | ||||
REVENUES: | $ 0 | $ 0 | $ 0 | $ 0 |
EXPENSES: | ||||
General and Administrative Expense | 127 | 30 | 263 | 5,334 |
Professional fees | 15,779 | 7,697 | 24,588 | 16,591 |
Share transfer agent fee | 100 | 200 | 700 | 405 |
Total expenses | 16,006 | 7,927 | 25,551 | 22,330 |
Net loss | $ (16,006) | $ (7,927) | $ (25,551) | $ (22,330) |
Net loss per common share - basic | $ (0.004) | $ (0.002) | $ (0.006) | $ (0.005) |
Weighted average of common shares outstanding - basic | 4,500,000 | 4,500,000 | 4,500,000 | 4,500,000 |
Statement of Stockholders' Defi
Statement of Stockholders' Deficit - USD ($) | Common Stock | Additional Paid-in Capital | Retained Earnings | Total |
Equity Balance, shares at Jun. 30, 2019 | 4,500,000 | |||
Equity Balance at Jun. 30, 2019 | $ 4,500 | $ 68,900 | $ (55,101) | $ 18,299 |
Net loss | $ 0 | 0 | (22,330) | (22,330) |
Equity Balance, shares at Mar. 31, 2020 | 4,500,000 | |||
Equity Balance at Mar. 31, 2020 | $ 4,500 | 68,900 | (77,431) | (4,031) |
Equity Balance, shares at Dec. 31, 2019 | 4,500,000 | |||
Equity Balance at Dec. 31, 2019 | $ 4,500 | 68,900 | (69,504) | 3,896 |
Net loss | $ 0 | 0 | (7,927) | (7,927) |
Equity Balance, shares at Mar. 31, 2020 | 4,500,000 | |||
Equity Balance at Mar. 31, 2020 | $ 4,500 | 68,900 | (77,431) | (4,031) |
Equity Balance, shares at Jun. 30, 2020 | 4,500,000 | |||
Equity Balance at Jun. 30, 2020 | $ 4,500 | 68,900 | (82,719) | (9,319) |
Net loss | $ 0 | 0 | (25,551) | (25,551) |
Equity Balance, shares at Mar. 31, 2021 | 4,500,000 | |||
Equity Balance at Mar. 31, 2021 | $ 4,500 | 68,900 | (108,270) | (34,870) |
Equity Balance, shares at Dec. 31, 2020 | 4,500,000 | |||
Equity Balance at Dec. 31, 2020 | $ 4,500 | 68,900 | (92,264) | (18,864) |
Net loss | $ 0 | 0 | (16,006) | (16,006) |
Equity Balance, shares at Mar. 31, 2021 | 4,500,000 | |||
Equity Balance at Mar. 31, 2021 | $ 4,500 | $ 68,900 | $ (108,270) | $ (34,870) |
Statement of Cash Flows
Statement of Cash Flows - USD ($) | 9 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Cash Flow from Operating Activities: | ||
Net loss | $ (25,551) | $ (22,330) |
Changes in Operating Assets and Liabilities: | ||
Increase (Decrease) in advances | 0 | (4,638) |
(Increase) Decrease in prepaid expenses | (813) | (1,294) |
Increase (Decrease) in accounts payable | 5,038 | 3,616 |
Net cash used in operating activities | (19,700) | (12,782) |
Cash flows from Investing Activities: | ||
Net cash provided by investing activities | 0 | 0 |
Cash flows from Financing Activities: | ||
Proceeds from related party debt | 22,000 | 0 |
Net cash provided by financing activities | 22,000 | 0 |
Net increase in cash, cash equivalents, and restricted cash | 2,300 | (12,782) |
Cash, cash equivalents, and restricted cash at beginning of year | 5,566 | 17,367 |
Cash, cash equivalents, and restricted cash at end of year | 7,866 | 4,585 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Cash paid for interest | 0 | 0 |
Cash paid for income taxes | $ 0 | $ 0 |
NOTE A - SUMMARY OF SIGNIFICANT
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Mar. 31, 2021 | |
Notes | |
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE A – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES A summary of significant accounting policies of Sigmarenopro, Inc. (the Company) is presented to assist in understanding the Company’s financial statements. The accounting policies presented in these footnotes conform to accounting principles generally accepted in the United States of America and have been consistently applied in the preparation of the accompanying financial statements. These financial statements and notes are representations of the Company’s management who are responsible for their integrity and objectivity. The Company has not realized revenues from its planned principal business purpose. Organization, Nature of Business and Trade Name Sigmarenopro, Inc. (the Company) was incorporated in the State of Nevada on June 16, 2017. Sigmarenopro, Inc. intends to provide home project owners with contractor match making services in the U.S. Their customized match making service helps homeowners converge with professional contractors. They also intend to create a collection of articles intended to help homeowners with home project information, including how to outline project requirements, select the right contractor, interview contractors, draw up a project contract and settle disputes with contractors. Their service is deigned to be free for all homeowners to use and post their projects and plan to build a network of professionally-skilled contractors who provide a broad array of construction and renovation services for everything from changing light fixtures to complete kitchen renovation, and from housecleaning services to new construction. The Company’s principal office is in Kiryat Motzkin, Israel. The Company’s activities are subject to significant risks and uncertainties including failing to secure additional funding to operationalize the Company’s website and apps before another company develops similar websites or apps. Basis of Presentation The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America, and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) and reflect all adjustments, consisting of normal recurring adjustments, which management believes are necessary to fairly present the financial position, results of operations and cash flows at March 31, 2021 and for the related periods presented. Property and Equipment Property and equipment are carried at cost. Expenditures for maintenance and repairs are charged against operations. Renewals and betterments 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 estimated useful lives of the related assets. The estimated useful lives of depreciable assets are: Estimated Useful Lives Office Equipment 5-10 years Copier 5-7 years Vehicles 5-10 years For federal income tax purposes, depreciation is computed under the modified accelerated cost recovery system. For financial statements purposes, depreciation is computed under the straight-line method. The Company has been in the developmental stage since inception and has no operations to date. The Company currently does not have any property and equipment. The above accounting policies will be adopted upon the Company maintains property and equipment. Cash and Cash Equivalents For purposes of the statement of cash flows, the Company considers all short-term debt securities purchased with maturity of three months or less to be cash equivalents. Recent Accounting Pronouncements We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company. Revenue recognition The Company’s revenue recognition policies are in compliance with FASB ASC 605-35 “Revenue Recognition”. Revenue is recognized when a formal arrangement exists, the price is fixed or determinable, all obligations have been performed pursuant to the terms of the formal arrangement and collectability is reasonably assured. The Company recognizes revenues on sales of its services, based on the terms of the customer agreement. The customer agreement takes the form of either a contract or a customer purchase order and each provides information with respect to the service being sold and the sales price. If the customer agreement does not have specific delivery or customer acceptance terms, revenue is recognized at the time the service is provided to the customer. Fair Value of Financial Instruments Level 1 Level 2 Level 3 In accordance with the fair value accounting requirements, companies may choose to measure eligible financial instruments and certain other items at fair value. The Company has not elected the fair value option for any eligible financial instruments. As of March 31, 2021, the carrying value of loans that are required to be measured at fair value, approximated fair value due to the short-term nature and maturity of these instruments. Advertising Advertising expenses are recorded as general and administrative expenses when they are incurred. Use of Estimates The preparation of financial statements in accounting principles generally accepted in the United States of America 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. A change in managements’ estimates or assumptions could have a material impact on Sigmarenopro, Inc.’s financial condition and results of operations during the period in which such changes occurred. Actual results could differ from those estimates. Sigmarenopro, Inc.’s financial statements reflect all adjustments that management believes are necessary for the fair presentation of their financial condition and results of operations for the periods presented. Capital Stock The Company has authorized Seventy Five Million (75,000,000) shares of common stock with a par value of $0.001. Four Million Five Hundred and Thousand (4,500,000) shares of common stock were issued and outstanding as of March 31, 2021. Income Taxes The Company recognizes the tax effects of transactions in the year in which such transactions enter into the determination of net income, regardless of when reported for tax purposes. |
NOTE B - GOING CONCERN
NOTE B - GOING CONCERN | 9 Months Ended |
Mar. 31, 2021 | |
Notes | |
NOTE B - GOING CONCERN | NOTE B – GOING CONCERN The Company's financial statements are prepared using accounting principles generally accepted 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. However, the Company does not have an established source of revenues sufficient to cover its operating costs and to allow it to continue as a going concern. Under the going concern assumption, an entity is ordinarily viewed as continuing in business for the foreseeable future with neither the intention nor the necessity of liquidation, ceasing trading, or seeking protection from creditors pursuant to laws or regulations. Accordingly, assets and liabilities are recorded on the basis that the entity will be able to realize its assets and discharge its liabilities in the normal course of business. The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plan described in the Business paragraph and eventually attain profitable operations. The accompanying financial statements do not include any adjustments that may be necessary if the Company is unable to continue as a going concern. During the next year, the Company’s foreseeable cash requirements will relate to continual development of the operations of its business, maintaining its good standing and making the requisite filings with the Securities and Exchange Commission, and the payment of expenses associated with app development. The Company may experience a cash shortfall and be required to raise additional capital. Historically, it has mostly relied upon internally generated funds and funds from the sale of shares of stock to finance its operations and growth. Management may raise additional capital through future public or private offerings of the Company’s stock or through loans from private investors, although there can be no assurance that it will be able to obtain such financing. The Company’s failure to do so could have a material and adverse effect upon it and its shareholders. In the past year, the Company funded operations by using cash proceeds received through the issuance of common stock. For the coming year, the Company plans to continue to fund the Company through debt and securities sales and issuances until the company generates enough revenues through the operations as stated above. |
NOTE C - COMMON STOCK
NOTE C - COMMON STOCK | 9 Months Ended |
Mar. 31, 2021 | |
Notes | |
NOTE C - COMMON STOCK | NOTE C – COMMON STOCK On June 2017, Company issued 1,150,000 Common Shares to the director of the company at $0.008 per share for cash proceeds of $9,200. On June 2017, Company issued 1,150,000 common shares to the secretary of the company at $0.008 per share for cash proceeds of $9,200. On April 2018, Company issued 560,000 common shares to the various shareholder of the company at $0.025 per share for cash proceeds of $14,000. On May 2018, Company issued 640,000 common shares to the various shareholder of the company at $0.025 per share for cash proceeds of $16,000. On June 2018, Company issued 1,000,000 common shares to the various shareholder of the company at $0.025 per share for cash proceeds of $25,000. There were 4,500,000 and 4,500,000 shares of common stock issued and outstanding as of March 31, 2021 and June 30, 2020 respectively. |
NOTE D - RELATED PARTY TRANSACT
NOTE D - RELATED PARTY TRANSACTIONS | 9 Months Ended |
Mar. 31, 2021 | |
Notes | |
NOTE D - RELATED PARTY TRANSACTIONS | NOTE D – RELATED PARTY TRANSACTIONS On June 2017, Company issued 1,150,000 Common Shares to the director of the company at $0.008 per share for cash proceeds of $9,200. (Refer Note C) On June 2017, Company issued 1,150,000 Common Shares to the secretary of the company at $0.008 per shares for cash proceeds of $9,200. (Refer Note C) The Company received loans from Aamar Omar, Director of the Company towards various operating expenses. During the year ended June 30, 2018 and 2019, the Company received a loan totaling $5,000 and $1,000 towards operating expenses. The loans are unsecured, non-interest bearing and due on demand. During the quarter ended December 31, 2020, the Company received a loan totaling $10,000 towards operating expenses. The loans are unsecured, non-interest bearing and due on demand. During the quarter ended March 31, 2021, the Company received a loan totaling $12,000 towards operating expenses. The loans are unsecured, non-interest bearing and due on demand. As of March 31, 2021 and June 30, 2020, $28,000 and $6,000 respectively was due to Aamar Omar, Director of the Company. |
NOTE E - TRUST ACCOUNT
NOTE E - TRUST ACCOUNT | 9 Months Ended |
Mar. 31, 2021 | |
Notes | |
NOTE E - TRUST ACCOUNT | NOTE E – TRUST ACCOUNT Trust account (cash equivalent) is held by a law firm which provides periodic statement and pay the bills on behalf of Sigmarenopro. Law firm charges fees for managing the trust account. |
NOTE F - PREPAID EXPENSES
NOTE F - PREPAID EXPENSES | 9 Months Ended |
Mar. 31, 2021 | |
Notes | |
NOTE F - PREPAID EXPENSES | NOTE F – PREPAID EXPENSES Prepaid expenses for the three months ending March 31, 2021 consist of $25 towards registered agent fees and June 30, 2020 consists of $700 towards share transfer fee expenses paid to Globex, $138 towards registered agent fees. Prepaid expenses as of March 31, 2021 and June 30, 2020 is $25 and $838 respectively. |
NOTE G - SHORT TERM FUND
NOTE G - SHORT TERM FUND | 9 Months Ended |
Mar. 31, 2021 | |
Notes | |
NOTE G - SHORT TERM FUND | NOTE G – SHORT TERM FUND Company engaged Mussa Dahoud, to sell services to the prospective customers and deposit the money in the company escrow account. During the three months ended June 30, 2020 total amount of $ 4,116 was deposited by him. Since Mussa Dahoud, didn’t provide the full list of prospective customer details, it’s held as short-term fund. Company will return the fund to the agent Mussa Dahoud, if he fails to provide the correct customer information. |
NOTE H - RESTATEMENT
NOTE H - RESTATEMENT | 9 Months Ended |
Mar. 31, 2021 | |
Notes | |
NOTE H - RESTATEMENT | NOTE H – RESTATEMENT The following are previously recorded and restated balances as of March 31, 2020, for the year ended June 30,2020. Sigmarenopro, Inc Balance Sheets March 31,2020 March 31,2020 March 31,2020 (As Previously Reported) (Restatement Adjustments) (As Restated) ASSETS Current assets Cash held in trust $ 4,585 $ - $ 4,585 Prepaid expenses 1,000 - 1,000 Advances - - - Total current assets 5,585 - 5,585 Total assets $ 5,585 $ - $ 5,585 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable 3,616 - 3,616 Due to related parties $ 5,000 $ 1,000 $ 6,000 Total current liabilities $ 8,616 $ 1,000 $ 9,616 Commitments and contingencies STOCKHOLDERS’ EQUITY: Common stock: $0.001 par value, 75,000,000 shares authorized, 4,500,000 and 4,500,000 shares issued and outstanding as of March 31, 2020, respectively $ 4,500 $ - $ 4,500 Additional paid-in capital 68,900 - 68,900 Accumulated deficit (76,431 ) (1,000 ) (77,431 ) Total stockholders’ equity (deficit) (3,031 ) (1,000 ) (4,031 ) Total liabilities and stockholders’ equity $ 5,585 $ - $ 5,585 The accompanying notes are an integral part of these financial statements. Sigmarenopro, Inc Statements of Operations For the nine months ended March 31, 2020 For the nine months ended March 31, 2020 For the nine months ended March 31, 2020 (As Previously Reported) (Restatement Adjustments) (As Restated) REVENUES: $ - $ - $ - EXPENSES: General and Administrative Expense 75 5,259 5,334 Professional fees 17,212 (621 ) 16,591 Share transfer agent fee 405 - 405 Total expenses $ 17,692 $ 4,638 $ 22,330 Net loss $ (17,692 ) $ (4,638 ) $ (22,330 ) Net loss per common share - basic $ (0.004 ) $ (0.00 ) $ (0.005 ) Weighted average of common shares outstanding - basic 4,500,000 4,500,000 4,500,000 The accompanying notes are an integral part of these financial statements. Sigmarenopro, Inc Statement of Cash Flows For the nine months ended March 31, 2020 For the nine months ended March 31, 2020 For the nine months ended March 31, 2020 (As Previously Reported) (Restatement Adjustments) (As Restated) Cash flow from Operating Activities: Net loss $ (17,692 ) $ (4,638 ) $ (22,330 ) Changes in Operating Assets and Liabilities: Increase (Decrease) in advances - (4,638 ) (4,638 ) Increase (Decrease) in prepaid expenses (1,294) - (1,294) Increase (Decrease) in accounts payable 3,616 - 3,616 Net cash used in operating activities $ (12,782 ) $ - $ (12,782 ) Cash flows from Investing Activities: Net cash flows from investing activities $ - $ - $ - Cash flows from Financing Activities: Net cash provided by financing activities $ - $ - $ - Net increase in cash, cash equivalents, and restricted cash $ (12,782 ) - (12,782 ) Cash, cash equivalents, and restricted cash at beginning of year 17,367 - 17,367 Cash, cash equivalents, and restricted cash at end of year $ 4,585 $ - $ 4,585 SUPPLEMENTAL CASH FLOW INFORMATION: Cash paid for interest $ - $ - $ - Cash paid for income taxes $ - $ - $ - The accompanying notes are an integral part of these financial statements. |
NOTE I - SUBSEQUENT EVENT
NOTE I - SUBSEQUENT EVENT | 9 Months Ended |
Mar. 31, 2021 | |
Notes | |
NOTE I - SUBSEQUENT EVENT | NOTE I – SUBSEQUENT EVENT The Company evaluated all events or transactions that occurred after March 31, 2021 through April 21,2021. The Company determined that it does not have any subsequent event requiring recording or disclosure in the financial statements for the period ended March 31, 2021 . |
NOTE A - SUMMARY OF SIGNIFICA_2
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Organization, Nature of Business and Trade Name (Policies) | 9 Months Ended |
Mar. 31, 2021 | |
Policies | |
Organization, Nature of Business and Trade Name | Organization, Nature of Business and Trade Name Sigmarenopro, Inc. (the Company) was incorporated in the State of Nevada on June 16, 2017. Sigmarenopro, Inc. intends to provide home project owners with contractor match making services in the U.S. Their customized match making service helps homeowners converge with professional contractors. They also intend to create a collection of articles intended to help homeowners with home project information, including how to outline project requirements, select the right contractor, interview contractors, draw up a project contract and settle disputes with contractors. Their service is deigned to be free for all homeowners to use and post their projects and plan to build a network of professionally-skilled contractors who provide a broad array of construction and renovation services for everything from changing light fixtures to complete kitchen renovation, and from housecleaning services to new construction. The Company’s principal office is in Kiryat Motzkin, Israel. The Company’s activities are subject to significant risks and uncertainties including failing to secure additional funding to operationalize the Company’s website and apps before another company develops similar websites or apps. |
NOTE A - SUMMARY OF SIGNIFICA_3
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Basis of Presentation (Policies) | 9 Months Ended |
Mar. 31, 2021 | |
Policies | |
Basis of Presentation | Basis of Presentation The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America, and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) and reflect all adjustments, consisting of normal recurring adjustments, which management believes are necessary to fairly present the financial position, results of operations and cash flows at March 31, 2021 and for the related periods presented. |
NOTE A - SUMMARY OF SIGNIFICA_4
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Property and Equipment (Policies) | 9 Months Ended |
Mar. 31, 2021 | |
Policies | |
Property and Equipment | Property and Equipment Property and equipment are carried at cost. Expenditures for maintenance and repairs are charged against operations. Renewals and betterments 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 estimated useful lives of the related assets. The estimated useful lives of depreciable assets are: Estimated Useful Lives Office Equipment 5-10 years Copier 5-7 years Vehicles 5-10 years For federal income tax purposes, depreciation is computed under the modified accelerated cost recovery system. For financial statements purposes, depreciation is computed under the straight-line method. The Company has been in the developmental stage since inception and has no operations to date. The Company currently does not have any property and equipment. The above accounting policies will be adopted upon the Company maintains property and equipment. |
NOTE A - SUMMARY OF SIGNIFICA_5
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Cash and Cash Equivalents (Policies) | 9 Months Ended |
Mar. 31, 2021 | |
Policies | |
Cash and Cash Equivalents | Cash and Cash Equivalents For purposes of the statement of cash flows, the Company considers all short-term debt securities purchased with maturity of three months or less to be cash equivalents. |
NOTE A - SUMMARY OF SIGNIFICA_6
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Recent Accounting Pronouncements (Policies) | 9 Months Ended |
Mar. 31, 2021 | |
Policies | |
Recent Accounting Pronouncements | Recent Accounting Pronouncements We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company. |
NOTE A - SUMMARY OF SIGNIFICA_7
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Revenue recognition (Policies) | 9 Months Ended |
Mar. 31, 2021 | |
Policies | |
Revenue recognition | Revenue recognition The Company’s revenue recognition policies are in compliance with FASB ASC 605-35 “Revenue Recognition”. Revenue is recognized when a formal arrangement exists, the price is fixed or determinable, all obligations have been performed pursuant to the terms of the formal arrangement and collectability is reasonably assured. The Company recognizes revenues on sales of its services, based on the terms of the customer agreement. The customer agreement takes the form of either a contract or a customer purchase order and each provides information with respect to the service being sold and the sales price. If the customer agreement does not have specific delivery or customer acceptance terms, revenue is recognized at the time the service is provided to the customer. |
NOTE A - SUMMARY OF SIGNIFICA_8
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Fair Value of Financial Instruments (Policies) | 9 Months Ended |
Mar. 31, 2021 | |
Policies | |
Fair Value of Financial Instruments | Fair Value of Financial Instruments Level 1 Level 2 Level 3 In accordance with the fair value accounting requirements, companies may choose to measure eligible financial instruments and certain other items at fair value. The Company has not elected the fair value option for any eligible financial instruments. As of March 31, 2021, the carrying value of loans that are required to be measured at fair value, approximated fair value due to the short-term nature and maturity of these instruments. |
NOTE A - SUMMARY OF SIGNIFICA_9
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Advertising (Policies) | 9 Months Ended |
Mar. 31, 2021 | |
Policies | |
Advertising | Advertising Advertising expenses are recorded as general and administrative expenses when they are incurred. |
NOTE A - SUMMARY OF SIGNIFIC_10
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Use of Estimates (Policies) | 9 Months Ended |
Mar. 31, 2021 | |
Policies | |
Use of Estimates | Use of Estimates The preparation of financial statements in accounting principles generally accepted in the United States of America 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. A change in managements’ estimates or assumptions could have a material impact on Sigmarenopro, Inc.’s financial condition and results of operations during the period in which such changes occurred. Actual results could differ from those estimates. Sigmarenopro, Inc.’s financial statements reflect all adjustments that management believes are necessary for the fair presentation of their financial condition and results of operations for the periods presented. |
NOTE A - SUMMARY OF SIGNIFIC_11
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Capital Stock (Policies) | 9 Months Ended |
Mar. 31, 2021 | |
Policies | |
Capital Stock | Capital Stock The Company has authorized Seventy Five Million (75,000,000) shares of common stock with a par value of $0.001. Four Million Five Hundred and Thousand (4,500,000) shares of common stock were issued and outstanding as of March 31, 2021. |
NOTE A - SUMMARY OF SIGNIFIC_12
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Income Taxes (Policies) | 9 Months Ended |
Mar. 31, 2021 | |
Policies | |
Income Taxes | Income Taxes The Company recognizes the tax effects of transactions in the year in which such transactions enter into the determination of net income, regardless of when reported for tax purposes. |
NOTE A - SUMMARY OF SIGNIFIC_13
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Property and Equipment: Property, Plant and Equipment (Tables) | 9 Months Ended |
Mar. 31, 2021 | |
Tables/Schedules | |
Property, Plant and Equipment | Depreciation is computed for financial statement purposes on a straight-line basis over estimated useful lives of the related assets. The estimated useful lives of depreciable assets are: Estimated Useful Lives Office Equipment 5-10 years Copier 5-7 years Vehicles 5-10 years |
NOTE H - RESTATEMENT_ Schedule
NOTE H - RESTATEMENT: Schedule of Error Corrections and Prior Period Adjustments (Tables) | 9 Months Ended |
Mar. 31, 2021 | |
Tables/Schedules | |
Schedule of Error Corrections and Prior Period Adjustments | The following are previously recorded and restated balances as of March 31, 2020, for the year ended June 30,2020. Sigmarenopro, Inc Balance Sheets March 31,2020 March 31,2020 March 31,2020 (As Previously Reported) (Restatement Adjustments) (As Restated) ASSETS Current assets Cash held in trust $ 4,585 $ - $ 4,585 Prepaid expenses 1,000 - 1,000 Advances - - - Total current assets 5,585 - 5,585 Total assets $ 5,585 $ - $ 5,585 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable 3,616 - 3,616 Due to related parties $ 5,000 $ 1,000 $ 6,000 Total current liabilities $ 8,616 $ 1,000 $ 9,616 Commitments and contingencies STOCKHOLDERS’ EQUITY: Common stock: $0.001 par value, 75,000,000 shares authorized, 4,500,000 and 4,500,000 shares issued and outstanding as of March 31, 2020, respectively $ 4,500 $ - $ 4,500 Additional paid-in capital 68,900 - 68,900 Accumulated deficit (76,431 ) (1,000 ) (77,431 ) Total stockholders’ equity (deficit) (3,031 ) (1,000 ) (4,031 ) Total liabilities and stockholders’ equity $ 5,585 $ - $ 5,585 The accompanying notes are an integral part of these financial statements. Sigmarenopro, Inc Statements of Operations For the nine months ended March 31, 2020 For the nine months ended March 31, 2020 For the nine months ended March 31, 2020 (As Previously Reported) (Restatement Adjustments) (As Restated) REVENUES: $ - $ - $ - EXPENSES: General and Administrative Expense 75 5,259 5,334 Professional fees 17,212 (621 ) 16,591 Share transfer agent fee 405 - 405 Total expenses $ 17,692 $ 4,638 $ 22,330 Net loss $ (17,692 ) $ (4,638 ) $ (22,330 ) Net loss per common share - basic $ (0.004 ) $ (0.00 ) $ (0.005 ) Weighted average of common shares outstanding - basic 4,500,000 4,500,000 4,500,000 The accompanying notes are an integral part of these financial statements. Sigmarenopro, Inc Statement of Cash Flows For the nine months ended March 31, 2020 For the nine months ended March 31, 2020 For the nine months ended March 31, 2020 (As Previously Reported) (Restatement Adjustments) (As Restated) Cash flow from Operating Activities: Net loss $ (17,692 ) $ (4,638 ) $ (22,330 ) Changes in Operating Assets and Liabilities: Increase (Decrease) in advances - (4,638 ) (4,638 ) Increase (Decrease) in prepaid expenses (1,294) - (1,294) Increase (Decrease) in accounts payable 3,616 - 3,616 Net cash used in operating activities $ (12,782 ) $ - $ (12,782 ) Cash flows from Investing Activities: Net cash flows from investing activities $ - $ - $ - Cash flows from Financing Activities: Net cash provided by financing activities $ - $ - $ - Net increase in cash, cash equivalents, and restricted cash $ (12,782 ) - (12,782 ) Cash, cash equivalents, and restricted cash at beginning of year 17,367 - 17,367 Cash, cash equivalents, and restricted cash at end of year $ 4,585 $ - $ 4,585 SUPPLEMENTAL CASH FLOW INFORMATION: Cash paid for interest $ - $ - $ - Cash paid for income taxes $ - $ - $ - The accompanying notes are an integral part of these financial statements. |
NOTE A - SUMMARY OF SIGNIFIC_14
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Property and Equipment: Property, Plant and Equipment (Details) | 9 Months Ended |
Mar. 31, 2021 | |
Office Equipment | Minimum | |
Estimated Useful Lives | 5 years |
Office Equipment | Maximum | |
Estimated Useful Lives | 10 years |
Other Machinery and Equipment | Minimum | |
Estimated Useful Lives | 5 years |
Other Machinery and Equipment | Maximum | |
Estimated Useful Lives | 7 years |
Vehicles | Minimum | |
Estimated Useful Lives | 5 years |
Vehicles | Maximum | |
Estimated Useful Lives | 10 years |
NOTE A - SUMMARY OF SIGNIFIC_15
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Capital Stock (Details) - $ / shares | Mar. 31, 2021 | Jun. 30, 2020 |
Details | ||
Common Stock, Shares Authorized | 75,000,000 | 75,000,000 |
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares, Issued | 4,500,000 | 4,500,000 |
Common Stock, Shares, Outstanding | 4,500,000 | 4,500,000 |
NOTE C - COMMON STOCK (Details)
NOTE C - COMMON STOCK (Details) - USD ($) | Jun. 30, 2017 | Jun. 30, 2018 | May 31, 2018 | Apr. 30, 2018 | Jun. 30, 2017 | Mar. 31, 2021 | Jun. 30, 2020 |
Common Stock, Shares, Issued | 4,500,000 | 4,500,000 | |||||
Common Stock, Shares, Outstanding | 4,500,000 | 4,500,000 | |||||
Director | |||||||
Stock Issued During Period, Shares, New Issues | 1,150,000 | 1,150,000 | |||||
Sale of Stock, Price Per Share | $ 0.008 | $ 0.008 | |||||
Proceeds from Issuance of Common Stock | $ 9,200 | $ 9,200 | |||||
Secretary | |||||||
Stock Issued During Period, Shares, New Issues | 1,150,000 | ||||||
Sale of Stock, Price Per Share | $ 0.008 | $ 0.008 | |||||
Proceeds from Issuance of Common Stock | $ 9,200 | ||||||
Various shareholder | |||||||
Stock Issued During Period, Shares, New Issues | 1,000,000 | 640,000 | 560,000 | ||||
Sale of Stock, Price Per Share | $ 0.025 | $ 0.025 | $ 0.025 | ||||
Proceeds from Issuance of Common Stock | $ 25,000 | $ 16,000 | $ 14,000 |
NOTE D - RELATED PARTY TRANSA_2
NOTE D - RELATED PARTY TRANSACTIONS (Details) - USD ($) | Jun. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2021 | Mar. 31, 2020 | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2020 |
Proceeds from related party debt | $ 22,000 | $ 0 | |||||||
Due to related parties | $ 28,000 | 28,000 | $ 6,000 | ||||||
DirectorOne | |||||||||
Proceeds from related party debt | $ 12,000 | $ 10,000 | $ 1,000 | $ 5,000 | |||||
Debt Instrument, Description | The loans are unsecured, non-interest bearing and due on demand | The loans are unsecured, non-interest bearing and due on demand | The loans are unsecured, non-interest bearing and due on demand. | The loans are unsecured, non-interest bearing and due on demand. | |||||
Due to related parties | $ 28,000 | $ 28,000 | $ 6,000 | ||||||
Director | |||||||||
Stock Issued During Period, Shares, New Issues | 1,150,000 | 1,150,000 | |||||||
Sale of Stock, Price Per Share | $ 0.008 | $ 0.008 | |||||||
Proceeds from Issuance of Common Stock | $ 9,200 | $ 9,200 | |||||||
Secretary | |||||||||
Stock Issued During Period, Shares, New Issues | 1,150,000 | ||||||||
Sale of Stock, Price Per Share | $ 0.008 | $ 0.008 | |||||||
Proceeds from Issuance of Common Stock | $ 9,200 |
NOTE F - PREPAID EXPENSES (Deta
NOTE F - PREPAID EXPENSES (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2021 | Mar. 31, 2020 | Jun. 30, 2020 | |
Share transfer agent fee | $ 100 | $ 200 | $ 700 | $ 405 | |
Prepaid expenses | 25 | $ 25 | $ 838 | ||
Prepaid Expenses and Other Current Assets | |||||
Registered agent fees | $ 25 | ||||
Prepaid expense Globex transfer | |||||
Registered agent fees | 138 | ||||
Share transfer agent fee | $ 700 |
NOTE G - SHORT TERM FUND (Detai
NOTE G - SHORT TERM FUND (Details) - USD ($) | Mar. 31, 2021 | Jun. 30, 2020 |
Details | ||
Short term fund | $ 4,116 | $ 4,116 |
NOTE H - RESTATEMENT_ Schedul_2
NOTE H - RESTATEMENT: Schedule of Error Corrections and Prior Period Adjustments (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2021 | Mar. 31, 2020 | Jun. 30, 2020 | |
Current assets | |||||
Cash held in trust | $ 7,866 | $ 7,866 | $ 5,566 | ||
Prepaid expenses | 25 | 25 | 838 | ||
Total current assets | 7,891 | 7,891 | 6,404 | ||
Total assets | 7,891 | 7,891 | 6,404 | ||
Current liabilities | |||||
Accounts payable | 10,645 | 10,645 | 5,607 | ||
Due to related parties | 28,000 | 28,000 | 6,000 | ||
Total current liabilities | 42,761 | 42,761 | 15,723 | ||
STOCKHOLDERS' EQUITY: | |||||
Common stock: $0.001 par value, 75,000,000 shares authorized, 4,500,000 and 4,500,000 shares issued and outstanding as of March 31, 2020, respectively | 4,500 | 4,500 | 4,500 | ||
Additional paid-in capital | 68,900 | 68,900 | 68,900 | ||
Accumulated deficit | (108,270) | (108,270) | (82,719) | ||
Total stockholders' equity (deficit) | (34,870) | (34,870) | (9,319) | ||
Total liabilities and stockholders' equity | 7,891 | 7,891 | 6,404 | ||
REVENUES: | 0 | $ 0 | 0 | $ 0 | |
EXPENSES: | |||||
General and Administrative Expense | 127 | 30 | 263 | 5,334 | |
Professional fees | 15,779 | 7,697 | 24,588 | 16,591 | |
Share transfer agent fee | 100 | 200 | 700 | 405 | |
Total expenses | 16,006 | 7,927 | 25,551 | 22,330 | |
Net loss | $ (16,006) | $ (7,927) | $ (25,551) | $ (22,330) | |
Net loss per common share - basic | $ (0.004) | $ (0.002) | $ (0.006) | $ (0.005) | |
Weighted average of common shares outstanding - basic | 4,500,000 | 4,500,000 | 4,500,000 | 4,500,000 | |
Changes in Operating Assets and Liabilities: | |||||
Increase (Decrease) in advances | $ 0 | $ (4,638) | |||
Increase (Decrease) in prepaid expenses | (813) | (1,294) | |||
Increase (Decrease) in accounts payable | 5,038 | 3,616 | |||
Net cash used in operating activities | (19,700) | (12,782) | |||
Cash flows from Investing Activities: | |||||
Net cash flows from investing activities | 0 | 0 | |||
Cash flows from Financing Activities: | |||||
Net cash provided by financing activities | 22,000 | 0 | |||
Net increase in cash, cash equivalents, and restricted cash | 2,300 | (12,782) | |||
Cash, cash equivalents, and restricted cash at beginning of year | 5,566 | 17,367 | 17,367 | ||
Cash, cash equivalents, and restricted cash at end of year | $ 7,866 | $ 4,585 | 7,866 | 4,585 | 5,566 |
SUPPLEMENTAL CASH FLOW INFORMATION: | |||||
Cash paid for interest | 0 | 0 | |||
Cash paid for income taxes | $ 0 | 0 | |||
Previously Reported | |||||
Current assets | |||||
Cash held in trust | 4,585 | 4,585 | |||
Prepaid expenses | 1,000 | 1,000 | |||
Advances | 0 | 0 | |||
Total current assets | 5,585 | 5,585 | |||
Total assets | 5,585 | 5,585 | |||
Current liabilities | |||||
Accounts payable | 3,616 | 3,616 | |||
Due to related parties | 5,000 | 5,000 | |||
Total current liabilities | 8,616 | 8,616 | |||
STOCKHOLDERS' EQUITY: | |||||
Common stock: $0.001 par value, 75,000,000 shares authorized, 4,500,000 and 4,500,000 shares issued and outstanding as of March 31, 2020, respectively | 4,500 | 4,500 | |||
Additional paid-in capital | 68,900 | 68,900 | |||
Accumulated deficit | (76,431) | (76,431) | |||
Total stockholders' equity (deficit) | (3,031) | (3,031) | |||
Total liabilities and stockholders' equity | 5,585 | 5,585 | |||
REVENUES: | 0 | ||||
EXPENSES: | |||||
General and Administrative Expense | 75 | ||||
Professional fees | 17,212 | ||||
Share transfer agent fee | 405 | ||||
Total expenses | 17,692 | ||||
Net loss | $ (17,692) | ||||
Net loss per common share - basic | $ (0.004) | ||||
Weighted average of common shares outstanding - basic | 4,500,000 | ||||
Changes in Operating Assets and Liabilities: | |||||
Increase (Decrease) in advances | $ 0 | ||||
Increase (Decrease) in prepaid expenses | (1,294) | ||||
Increase (Decrease) in accounts payable | 3,616 | ||||
Net cash used in operating activities | (12,782) | ||||
Cash flows from Investing Activities: | |||||
Net cash flows from investing activities | 0 | ||||
Cash flows from Financing Activities: | |||||
Net cash provided by financing activities | 0 | ||||
Net increase in cash, cash equivalents, and restricted cash | (12,782) | ||||
Cash, cash equivalents, and restricted cash at beginning of year | 17,367 | 17,367 | |||
Cash, cash equivalents, and restricted cash at end of year | 4,585 | 4,585 | |||
SUPPLEMENTAL CASH FLOW INFORMATION: | |||||
Cash paid for interest | 0 | ||||
Cash paid for income taxes | 0 | ||||
Revision of Prior Period, Adjustment | |||||
Current assets | |||||
Cash held in trust | 0 | 0 | |||
Prepaid expenses | 0 | 0 | |||
Advances | 0 | 0 | |||
Total current assets | 0 | 0 | |||
Total assets | 0 | 0 | |||
Current liabilities | |||||
Accounts payable | 0 | 0 | |||
Due to related parties | 1,000 | 1,000 | |||
Total current liabilities | 1,000 | 1,000 | |||
STOCKHOLDERS' EQUITY: | |||||
Common stock: $0.001 par value, 75,000,000 shares authorized, 4,500,000 and 4,500,000 shares issued and outstanding as of March 31, 2020, respectively | 0 | 0 | |||
Additional paid-in capital | 0 | 0 | |||
Accumulated deficit | (1,000) | (1,000) | |||
Total stockholders' equity (deficit) | (1,000) | (1,000) | |||
Total liabilities and stockholders' equity | 0 | 0 | |||
REVENUES: | 0 | ||||
EXPENSES: | |||||
General and Administrative Expense | 5,259 | ||||
Professional fees | (621) | ||||
Share transfer agent fee | 0 | ||||
Total expenses | 4,638 | ||||
Net loss | $ (4,638) | ||||
Net loss per common share - basic | $ 0 | ||||
Weighted average of common shares outstanding - basic | 4,500,000 | ||||
Changes in Operating Assets and Liabilities: | |||||
Increase (Decrease) in advances | $ (4,638) | ||||
Increase (Decrease) in prepaid expenses | 0 | ||||
Increase (Decrease) in accounts payable | 0 | ||||
Net cash used in operating activities | 0 | ||||
Cash flows from Investing Activities: | |||||
Net cash flows from investing activities | 0 | ||||
Cash flows from Financing Activities: | |||||
Net cash provided by financing activities | 0 | ||||
Net increase in cash, cash equivalents, and restricted cash | 0 | ||||
Cash, cash equivalents, and restricted cash at beginning of year | 0 | 0 | |||
Cash, cash equivalents, and restricted cash at end of year | 0 | 0 | |||
SUPPLEMENTAL CASH FLOW INFORMATION: | |||||
Cash paid for interest | 0 | ||||
Cash paid for income taxes | 0 | ||||
Restated | |||||
Current assets | |||||
Cash held in trust | 4,585 | 4,585 | |||
Prepaid expenses | 1,000 | 1,000 | |||
Advances | 0 | 0 | |||
Total current assets | 5,585 | 5,585 | |||
Total assets | 5,585 | 5,585 | |||
Current liabilities | |||||
Accounts payable | 3,616 | 3,616 | |||
Due to related parties | 6,000 | 6,000 | |||
Total current liabilities | 9,616 | 9,616 | |||
STOCKHOLDERS' EQUITY: | |||||
Common stock: $0.001 par value, 75,000,000 shares authorized, 4,500,000 and 4,500,000 shares issued and outstanding as of March 31, 2020, respectively | 4,500 | 4,500 | |||
Additional paid-in capital | 68,900 | 68,900 | |||
Accumulated deficit | (77,431) | (77,431) | |||
Total stockholders' equity (deficit) | (4,031) | (4,031) | |||
Total liabilities and stockholders' equity | 5,585 | 5,585 | |||
REVENUES: | 0 | ||||
EXPENSES: | |||||
General and Administrative Expense | 5,334 | ||||
Professional fees | 16,591 | ||||
Share transfer agent fee | 405 | ||||
Total expenses | 22,330 | ||||
Net loss | $ (22,330) | ||||
Net loss per common share - basic | $ (0.005) | ||||
Weighted average of common shares outstanding - basic | 4,500,000 | ||||
Changes in Operating Assets and Liabilities: | |||||
Increase (Decrease) in advances | $ (4,638) | ||||
Increase (Decrease) in prepaid expenses | (1,294) | ||||
Increase (Decrease) in accounts payable | 3,616 | ||||
Net cash used in operating activities | (12,782) | ||||
Cash flows from Investing Activities: | |||||
Net cash flows from investing activities | 0 | ||||
Cash flows from Financing Activities: | |||||
Net cash provided by financing activities | 0 | ||||
Net increase in cash, cash equivalents, and restricted cash | (12,782) | ||||
Cash, cash equivalents, and restricted cash at beginning of year | 17,367 | $ 17,367 | |||
Cash, cash equivalents, and restricted cash at end of year | $ 4,585 | 4,585 | |||
SUPPLEMENTAL CASH FLOW INFORMATION: | |||||
Cash paid for interest | 0 | ||||
Cash paid for income taxes | $ 0 |
NOTE H - RESTATEMENT_ Schedul_3
NOTE H - RESTATEMENT: Schedule of Error Corrections and Prior Period Adjustments - Parenthetical (Details) - $ / shares | Mar. 31, 2021 | Jun. 30, 2020 | Mar. 31, 2020 |
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | |
Common Stock, Shares Authorized | 75,000,000 | 75,000,000 | |
Common Stock, Shares, Issued | 4,500,000 | 4,500,000 | |
Common Stock, Shares, Outstanding | 4,500,000 | 4,500,000 | |
Previously Reported | |||
Common Stock, Par or Stated Value Per Share | $ 0.001 | ||
Common Stock, Shares Authorized | 75,000,000 | ||
Common Stock, Shares, Issued | 4,500,000 | ||
Common Stock, Shares, Outstanding | 4,500,000 |