Data Vision 10-Q 23 Nov 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Nov. 10, 2020
Document And Entity Information
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Current Fiscal Year End Date	--12-31
Entity File Number	333-226073
Entity Registrant Name	DATA VISION, INC.
Entity Central Index Key	0001715942
Entity Tax Identification Number	81-5067570
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	18124 Wedge Pkwy
Entity Address, Address Line Two	Ste 1050
Entity Address, Address Line Three	Reno
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89511
City Area Code	778
Local Phone Number	995-1267
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
Elected Not To Use the Extended Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		60,000,000
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2020

BALANCE SHEETS (Unaudited)

BALANCE SHEETS (Unaudited) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
CURRENT ASSETS
Cash	$ 23,400	$ 31,401
Total Current Assets	23,400	31,401
TOTAL ASSETS	23,400	31,401
CURRENT LIABILITIES
Loan payable - related party	50	50
Accured Expenses		2,046
Total current liabilities	50	2,096
TOTAL LIABILITIES	50	2,096
STOCKHOLDERS' EQUITY
Common stock, $0.0001 par value, 200,000,000 shares authorized, 60,000,000 issued and outstanding at September 30, 2020 and December 31, 2019, respectively.	6,000	6,000
Additional paid-in capital	149,500	149,500
Stock subscription receivable	(51,100)	(51,100)
Accumulated Deficit	(81,050)	(75,095)
Total stockholders' equity	23,350	29,305
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 23,400	$ 31,401

BALANCE SHEETS (Unaudited) (Par

BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common Stock, Par Value	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	200,000,000	200,000,000
Common Stock, Shares Issued	60,000,000	60,000,000
Common Stock, Shares Outstanding	60,000,000	60,000,000

STATEMENT OF OPERATIONS (Unaudi

STATEMENT OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
REVENUE	$ 0	$ 0	$ 0	$ 0
OPERATING EXPENSES
General and administrative	152	4,025	5,955	50,607
Total operating expenses	152	4,025	5,955	50,607
Net loss before income taxes	(152)	(4,025)	(5,955)	(50,607)
Income tax provision
NET LOSS	$ (152)	$ (4,025)	$ (5,955)	$ (50,607)
Weighted average number of shares outstanding - basic and diluted	60,000,000	60,000,000	60,000,000	60,000,000

STATEMENT OF CHANGES IN STOCKHO

STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - USD ($)	Common Stock	Additional Paid-In Capital	Stock Subscription Receivable	Accumulated Deficit	Total
Beginning Balance at Dec. 31, 2018	$ 6,000	$ 149,500	$ (51,100)	$ (16,708)	$ 87,692
Beginning Balance, Shares at Dec. 31, 2018	60,000,000
Net Loss for the period				(15,767)	(15,767)
Ending Balance at Mar. 31, 2019	$ 6,000	149,500	(51,100)	(32,475)	71,925
Ending Balance, Shares at Mar. 31, 2019	60,000,000
Beginning Balance at Dec. 31, 2018	$ 6,000	149,500	(51,100)	(16,708)	87,692
Beginning Balance, Shares at Dec. 31, 2018	60,000,000
Net Loss for the period					(50,607)
Ending Balance at Sep. 30, 2019	$ 6,000	149,500	(51,100)	(67,315)	37,085
Ending Balance, Shares at Sep. 30, 2019	60,000,000
Beginning Balance at Mar. 31, 2019	$ 6,000	149,500	(51,100)	(32,475)	71,925
Beginning Balance, Shares at Mar. 31, 2019	60,000,000
Net Loss for the period				(30,815)	(30,815)
Ending Balance at Jun. 30, 2019	$ 6,000	149,500	(51,100)	(63,290)	41,110
Ending Balance, Shares at Jun. 30, 2019	60,000,000
Net Loss for the period				(4,025)	(4,025)
Ending Balance at Sep. 30, 2019	$ 6,000	149,500	(51,100)	(67,315)	37,085
Ending Balance, Shares at Sep. 30, 2019	60,000,000
Beginning Balance at Dec. 31, 2019	$ 6,000	149,500	(51,100)	(75,095)	29,305
Beginning Balance, Shares at Dec. 31, 2019	60,000,000
Net Loss for the period				(5,651)	(5,651)
Ending Balance at Mar. 31, 2020	$ 6,000	149,500	(51,100)	(80,746)	23,654
Ending Balance, Shares at Mar. 31, 2020	60,000,000
Beginning Balance at Dec. 31, 2019	$ 6,000	149,500	(51,100)	(75,095)	29,305
Beginning Balance, Shares at Dec. 31, 2019	60,000,000
Net Loss for the period					(5,955)
Ending Balance at Sep. 30, 2020	$ 6,000	149,500	(51,100)	(81,050)	23,350
Ending Balance, Shares at Sep. 30, 2020	60,000,000
Beginning Balance at Mar. 31, 2020	$ 6,000	149,500	(51,100)	(80,746)	23,654
Beginning Balance, Shares at Mar. 31, 2020	60,000,000
Net Loss for the period				(152)	(152)
Ending Balance at Jun. 30, 2020	$ 6,000	149,500	(51,100)	(80,898)	23,502
Ending Balance, Shares at Jun. 30, 2020	60,000,000
Net Loss for the period				(152)	(152)
Ending Balance at Sep. 30, 2020	$ 6,000	$ 149,500	$ (51,100)	$ (81,050)	$ 23,350
Ending Balance, Shares at Sep. 30, 2020	60,000,000

STATEMENT OF CASH FLOWS (Unaudi

STATEMENT OF CASH FLOWS (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash Flows from Operating Activities:
Net Loss	$ (5,955)	$ (50,607)
Changes in operating liabilities
Accrued expenses	2,046
Net Cash used in Operating Activities	(8,001)	(50,607)
Net change in cash	(8,001)	(50,607)
Cash at beginning of period	31,401	87,742
Cash at end of period	$ 23,400	$ 37,135

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
ORGANIZATION AND DESCRIPTION OF BUSINESS	NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS Data Vision Inc. (the “Company”) was incorporated in the State of Nevada on January 11, 2017. The Company is in the development stage whose purpose is 3D modelling services and software for space management.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Development Stage Company The Company is considered to be in the development stage as defined in ASC 915 “ Development Stage Entities. Basis of Presentation The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America (GAAP). Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. Start-Up Costs In accordance with ASC 720, “ Start-up Costs”, Cash Cash includes cash in banks, money market funds, and certificates of term deposits with maturities of less than three months from inception, which are readily convertible to known amounts of cash and which, in the opinion of management, are subject to an insignificant risk of loss in value. Income Taxes The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, “Accounting for Income Taxes”. The asset and liability method provides that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities and for operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. As of September 30, 2020, the Company did not have any amounts recorded pertaining to uncertain tax positions. 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

GOING CONCERN	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
GOING CONCERN	NOTE 3 - GOING CONCERN The accompanying 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 not generated any revenues since inception and has an accumulated deficit of $81,050. These factors, among others, raise substantial doubt about the ability of the Company to continue as a going concern for a reasonable period of time. The Company’s continuation as a going concern is dependent upon, among other things, its ability to generate revenues and its ability to obtain capital from third parties. No assurance can be given that the Company will be successful in these efforts. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. The Company’s continuation as a going concern is dependent upon, among other things, its ability to generate revenues and its ability to obtain capital from third parties. The Company plans to rely on the proceeds from loans from both unrelated and related parties to provide the resources necessary to fund the development of its business plan and operations. No assurance can be given that the Company will be successful in these efforts. Impact of COVID-19 on Our Business. In March 2020, the World Health Organization declared the novel coronavirus (COVID-19) a global pandemic and recommended containment and mitigation measures worldwide. The spread of COVID-19 has affected segments of the global economy and may affect our operations, including the potential interruption of our supply chain. We are monitoring this situation closely, and although operations have not been materially affected by the COVID-19 outbreak to date, the ultimate duration and severity of the outbreak and its impact on the economic environment and our business is uncertain. The extent to which COVID-19 impacts our operations will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the duration of the outbreak, new information which may emerge concerning the severity of COVID-19 and the actions to contain the coronavirus or treat its impact, among others. In particular, the continued spread of the coronavirus globally could adversely impact our operations and could have an adverse impact on our business and our financial results. The COVID-19 outbreak is a widespread health crisis that has adversely affected the economies and financial markets of many countries, resulting in an economic downturn that could affect demand for our products and likely impact our operating results.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 4 - INCOME TAXES The reconciliation of income tax benefit at the U.S. statutory rate of 21% for six months ended September 30, 2020 and 2019 to the Company’s effective tax rate is as follows: Nine Month Ended September 30 2020 2019 Income tax benefit at statutory rate (1,251 ) (10,628 ) Change in valuation allowance 1,251 10,628 Income tax expense — — The tax effects of temporary differences that give rise to the Company’s net deferred tax assets as of September 30, 2020 and 2019 are as follows: September 30 December 31 2020 2019 Net operating loss carry forward 17,021 15,770 Valuation allowance (17,021 ) (15,770 ) Net deferred tax assets — — The Company has approximately $81,050 of net operating losses (“NOL”) carried forward to offset taxable income, if any, in future years which expire commencing in fiscal 2037. In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Based on the assessment, management has established a full valuation allowance against all of the deferred tax asset relating to NOLs for every period because it is more likely than not that all of the deferred tax asset will not be realized.

RELATED-PARTY LOAN

RELATED-PARTY LOAN	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
RELATED-PARTY LOAN	NOTE 5 – RELATED-PARTY LOAN The Company was advanced $50 by a related-party for operating purposes. The loan is non-interest bearing and is payable on demand.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	9 Months Ended
	Sep. 30, 2020
Stockholders Equity
STOCKHOLDERS' EQUITY	NOTE 6 – STOCKHOLDERS’ EQUITY Authorized Stock The Company has authorized 200,000,000 common shares with a par value of $0.0001 per share. Each common share entitles the holder to one vote, in person or proxy, on any matter on which action of the stockholders of the corporation is sought. On May 1, 2017 the Company issued 55,000,000 shares of common stock to its founders for a subscription amount of $5,500. As of June 30, 2020, the subscription amount of $5,500 has not been paid, and is reflected as stock subscription receivable on the accompanying financial statements. On May 1, 2017, the Company issued 5,000,000 shares of common stock for a subscription amount of $150,000. As of June 30, 2020, $104,400 of the subscription has been paid with the remaining $45,600 of the subscription has not yet been paid, and is reflected as a stock subscription receivable on the accompanying financial statements.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 7 – SUBSEQUENT EVENTS Management has evaluated subsequent events through the date these financial statements were issued. Based on managements’ evaluation, no events have occurred that require disclosure or adjustments to the financial statement.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Development Stage Company	Development Stage Company The Company is considered to be in the development stage as defined in ASC 915 “ Development Stage Entities.
Basis of Presentation	Basis of Presentation The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America (GAAP).
Use of estimates	Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Start-Up Costs	Start-Up Costs In accordance with ASC 720, “ Start-up Costs”,
Cash	Cash Cash includes cash in banks, money market funds, and certificates of term deposits with maturities of less than three months from inception, which are readily convertible to known amounts of cash and which, in the opinion of management, are subject to an insignificant risk of loss in value.
Income Taxes	Income Taxes The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, “Accounting for Income Taxes”. The asset and liability method provides that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities and for operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. As of September 30, 2020, the Company did not have any amounts recorded pertaining to uncertain tax positions.
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.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Schedule of Income tax Expenses	The reconciliation of income tax benefit at the U.S. statutory rate of 21% for six months ended September 30, 2020 and 2019 to the Company’s effective tax rate is as follows: Nine Month Ended September 30 2020 2019 Income tax benefit at statutory rate (1,251 ) (10,628 ) Change in valuation allowance 1,251 10,628 Income tax expense — —
Schedule of Deferred tax Assets	The tax effects of temporary differences that give rise to the Company’s net deferred tax assets as of September 30, 2020 and 2019 are as follows: September 30 December 31 2020 2019 Net operating loss carry forward 17,021 15,770 Valuation allowance (17,021 ) (15,770 ) Net deferred tax assets — —

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Going Concern
Accumulated Net Loss	$ 81,050	$ 75,095

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income tax expense at statutory rate			$ (1,251)	$ (10,628)
Change in valuation allowance			1,251	10,628
Income tax expense per books

INCOME TAXES (Details 2)

INCOME TAXES (Details 2) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Net Operating Loss	$ 17,021	$ 15,770
Valuation allowance	(17,021)	(15,770)
Net deferred tax asset

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Tax Benefit U.S. Statutory Rate	21.00%	21.00%
Net Operating Loss Carryforward	$ 81,050

RELATED-PARTY LOAN (Details Nar

RELATED-PARTY LOAN (Details Narrative) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
Loan Payable - Related Party	$ 50	$ 50

STOCKHOLDERS' EQUITY (Details N

STOCKHOLDERS' EQUITY (Details Narrative) - USD ($)	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	May 01, 2017
Common Stock, Shares Authorized	200,000,000	200,000,000
Common Stock, Par Value	$ 0.0001	$ 0.0001
Common Stock, Shares Issued	60,000,000	60,000,000
Stock subscription recievable	$ 51,100	$ 51,100
Common Stock [Member]
Common Stock, Shares Issued				5,000,000
Stock subscription recievable			$ 45,600	$ 150,000
Common Stock [Member] | Founder [Member]
Common Stock, Shares Issued				55,000,000
Stock subscription recievable			$ 5,500	$ 5,500