| Basis of Presentation, Going Concern and Summary of Significant Accounting Policies | Note 2 – Basis of Presentation, Going Concern and Summary
of Significant Accounting Policies Basis of Presentation The unaudited financial statements for the three and six months
ended November 30, 2018 and 2017 have been prepared by us pursuant to the rules and regulations of the Securities and
Exchange Commission. In the opinion of the management, all adjustments necessary to present fairly our financial position,
results of operations, and cash flows as of November 30, 2018 and 2017, and for the periods then ended, have been made. Those
adjustments consist of normal and recurring adjustments. Certain information and note disclosures normally included in our
annual financial statements prepared in accordance with generally accepted accounting principles have been omitted. The
unaudited financial statements should be read in conjunction with the financial statements and notes thereto included in the
Company’s annual report on Form 10-K for the year ended May 31, 2018. The results of operations for the six months
ended November 30, 2018 are not necessarily indicative of the results to be expected for the full year. Going Concern As reflected in the accompanying financial statements, the Company
has a net loss and net cash used in operations of $151,343 and $147,200, respectively, for six months period ended November 30,
2018. Additionally, the Company has an accumulated deficit of $4,639,510 at November 30, 2018. These factors raise
substantial doubt about the Company’s ability to continue as a going concern for a period of 12 months from the issuance
date of this report. The ability of the Company to continue as a going concern is dependent on the Company’s ability to
implement its business plan, raise capital, and generate sufficient revenue; however, the Company’s cash position may not
be sufficient to support its daily operations. Management intends to raise additional funds by way of a private or public offering.
While the Company believes in the viability of its strategy to further implement its business plan and generate sufficient revenue
and in its ability to raise additional funds, there can be no assurances to that effect. The financial statements do not include
any adjustments related 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. Use of estimates The preparation of the financial statements in conformity with accounting
principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts
of assets, liabilities, revenues, expenses, and the related disclosures at the date of the financial statements and during the
reporting period. Actual results could materially differ from these estimates. Significant estimates made by management include,
but are not limited to, the allowance for doubtful accounts, inventory valuations, the useful life of property and equipment,
the valuation of deferred tax assets, the value of stock-based compensation, and the fair value of non-cash common stock issuances. Cash and cash equivalents The Company considers all highly liquid debt instruments and other
short-term investments with maturities of three months or less, when purchased, to be cash equivalents. The Company
maintains cash and cash equivalent balances at one financial institution that is insured by the Federal Deposit Insurance Corporation. Accounts receivable and allowance for doubtful accounts The Company has a policy of providing on allowance for doubtful accounts
based on its best estimate of the amount of probable credit losses in its existing accounts receivable. The Company
periodically reviews its accounts receivable to determine whether an allowance is necessary based on an analysis of past due accounts
and other factors that may indicate that the realization of an account may be in doubt. Account balances deemed to
be uncollectible are charged to bad debt expense and included in the allowance after all means of collection have been exhausted
and the potential for recovery is considered remote. Prepaid expenses and other current assets Prepaid expenses and other current assets of $8,889 and $3,505 at
November 30, 2018 and May 31, 2018, respectively, consist primarily of costs paid for future services which will occur within
a year. Prepaid expenses at November 30, 2018 primarily included prepaid rent and at May 31, 2018 primarily included cash prepayments
to vendors. Advances to suppliers Advances to suppliers represent the cash paid in advance for installment
payments for the purchase of inventory. The advances to a supplier are interest free and unsecured. As at November 30, 2018 and
May 31, 2018, advances to the Company’s major supplier amounted to $15,752 and $3,413, respectively. Upon shipment, by the
vendor, of the purchase inventory, the Company reclassifies such advances to supplier into inventory. Inventory The Company values inventory, consisting of finished goods and raw
materials, at the lower of cost and net realizable value. Cost is determined using an average cost method. The Company reduces
inventory for the diminution of value, resulting from product obsolescence, damage or other issues affecting marketability, equal
to the difference between the cost of the inventory and its net realizable value. The Company evaluates its current level of inventory
considering historical sales and other factors and, based on this evaluation, classifies inventory markdowns in the statement
of operations as a component of cost of goods sold. These markdowns are estimates, which could vary significantly from actual
requirements if future economic conditions, customer demand or competition differ from expectations. Property and Equipment Property and equipment are carried at cost less accumulated depreciation. Depreciation
is computed using the straight-line method over the estimated useful lives of the assets. The cost of repairs and maintenance
is expensed as incurred; major replacements and improvements are capitalized. When assets are retired or disposed of,
the cost and accumulated depreciation are removed, and any resulting gains or losses are included in the statement of operations. Revenue recognition Effective June 1, 2018, the Company adopted Accounting Standards
Codification (“ASC”) 606, Revenue From Contracts With Customers, which is effective for public business entities with
annual reporting periods beginning after December 15, 2017. This new revenue recognition standard (new guidance) has a five
step process: a) Determine whether a contract exists; b) Identify the performance obligations; c) Determine the transaction price;
d) Allocate the transaction price; and e) Recognize revenue when (or as) performance obligations are satisfied. The impact of
the Company’s initial application of ASC 606 did not have a material impact on its financial statements and disclosures
and there was no cumulative effect of the adoption of ASC 606. The Company sells a variety of hair and skin care products. The Company
recognizes revenue for the agreed upon sales price when a purchase order is received from the customer and subsequently the product
is shipped to the customer, which satisfies the performance obligation. Consideration paid to the customer to promote and sell
the Company’s products is typically recorded as a reduction in revenues. See Note 10 for revenue disaggregation disclosures. Cost of Sales The primary components of cost of sales includes the cost of the
product and freight-in costs. Shipping and Handling Costs The Company accounts for shipping and handling fees in accordance
with ASC 606. While amounts charged to customers for shipping products are included in revenues, the related costs of shipping
products to customers are classified in marketing and selling expenses as incurred. Shipping costs included in marketing and selling
expense were $9,154 and $10,625 for the three months period ended November 30, 2018 and 2017, respectively. Shipping costs included
in marketing and selling expense were $18,357 and $16,112 for the six months period ended November 30, 2018 and 2017, respectively. Marketing, selling and advertising Marketing, selling and advertising costs are expensed as incurred. Customer Deposits Customer deposits consisted of prepayments from customers to the
Company. The Company will recognize the prepayments as revenue upon delivery of products in compliance with its revenue recognition
policy. Fair value measurements and fair value of financial instruments The Company adopted Accounting Standards Codification (“ASC”)
820, “Fair Value Measurements and Disclosures” (“ASC 820”), for assets and liabilities measured at fair
value on a recurring basis. ASC 820 establishes a common definition for fair value to be applied to existing generally accepted
accounting principles that requires the use of fair value measurements, establishes a framework for measuring fair value and expands
disclosure about such fair value measurements. The adoption of ASC 820 did not have an impact on the Company’s financial
position or operating results, but did expand certain disclosures. ASC 820 defines fair value as the price that would be
received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement
date. Additionally, ASC 820 requires the use of valuation techniques that maximize the use of observable inputs and minimize
the use of unobservable inputs. These inputs are prioritized below:
Level 1: Observable inputs such as quoted
market prices in active markets for identical assets or liabilities
Level 2: Observable market-based inputs or unobservable
inputs that are corroborated by market data
Level 3: Unobservable inputs for which there is little
or no market data, which require the use of the reporting entity’s own assumptions. The Company analyzes all financial instruments with features of both
liabilities and equity under the Financial Accounting Standard Board’s (“FASB”) accounting standard for such
instruments. Under this standard, financial assets and liabilities are classified in their entirety based on the lowest level
of input that is significant to the fair value measurement. The estimated fair value of certain financial instruments, including
prepaid expenses, deposits, accounts payable and accrued expenses are carried at historical cost basis, which approximates their
fair values because of the short-term nature of these instruments. Income Taxes The Company accounts for income taxes pursuant to the provision of
ASC 740-10, “Accounting for Income Taxes” (“ASC 740-10”), which requires, among other things, an asset
and liability approach to calculating deferred income taxes. The asset and liability approach requires the recognition of deferred
tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts and
the tax bases of assets and liabilities. A valuation allowance is provided to offset any net deferred tax assets for which management
believes it is more likely than not that the net deferred asset will not be realized. The Company follows the provision of ASC 740-10 related to Accounting
for Uncertain Income Tax Positions. When tax returns are filed, there may be uncertainty about the merits of positions taken or
the amount of the position that would be ultimately sustained. In accordance with the guidance of ASC 740-10, the benefit of a
tax position is recognized in the financial statements in the period during which, based on all available evidence, management
believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals
or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more likely than not recognition threshold
are measured at the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the
applicable taxing authority. The portion of the benefit associated with tax positions taken that exceed the amount measured as
described above should be reflected as a liability for uncertain tax benefits in the accompanying balance sheet along with any
associated interest and penalties that would be payable to the taxing authorities upon examination. The Company believes its tax
positions are all more likely than not to be upheld upon examination. As such, the Company has not recorded a liability for uncertain
tax benefits. The Company has adopted ASC 740-10-25, “Definition of Settlement”,
which provides guidance on how an entity should determine whether a tax position is effectively settled for the purpose of recognizing
previously unrecognized tax benefits and provides that a tax position can be effectively settled upon the completion and examination
by a taxing authority without being legally extinguished. For tax positions considered effectively settled, an entity would recognize
the full amount of tax benefit, even if the tax position is not considered more likely than not to be sustained based solely on
the basis of its technical merits and the statute of limitations remains open. The federal and state income tax returns
of the Company are subject to examination by the IRS and state taxing authorities, generally for three years after they are filed. Impairment of long-lived assets The Company reviews long-lived assets for impairment whenever events
or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable, or at least annually.
The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount
of the asset. The amount of impairment is measured as the difference between the asset’s estimated fair value and its book
value. Stock-based compensation Stock-based compensation is accounted for based on the requirements
of the Share-Based Payment Topic of ASC 718, “Compensation — Stock Compensation” (“ASC 718”), which
requires recognition in the financial statements of the cost of employee and director services received in exchange for an award
of equity instruments over the period the employee or director is required to perform the services in exchange for the award (presumptively,
the vesting period). ASC 718 also requires measurement of the cost of employee and director services received in exchange for
an award based on the grant-date fair value of the award. Effective June 1, 2018, the Company adopted the ASU 2018-07 whereby,
the accounting for share-based payments to nonemployees and employees is substantially aligned. The ASU supersedes Subtopic 505-50,
Equity - Equity-Based Payments to Non-Employees. Consistent with the accounting requirement for employee share based payment awards,
nonemployee share-based payment awards within the scope of Topic 718 are measured at grant-date fair value of the equity instruments
that the Company is obligated to issue when the good has been delivered or the service has been rendered and any other conditions
necessary to earn the right to benefit from the instruments have been satisfied. There was no cumulative effect of the adoption
of this standard. Net loss per share of common stock Basic net loss per share is computed by dividing the net loss by
the weighted average number of common shares during the period. Diluted net loss per share is computed using the weighted
average number of common shares and potentially dilutive securities outstanding during the period. At November 30, 2018 and 2017,
the Company had no potentially dilutive securities. Recently Issued Accounting Pronouncements In February 2016, FASB issued ASU 2016-02, “Leases” (Topic
842). The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based
on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine
whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease.
A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months
regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance
for operating leases. The new guidance will be effective for fiscal years beginning after December 15, 2018, and interim periods
within those annual periods and is applied retrospectively. Early adoption is permitted. The Company does not believe the guidance
will have a material impact on its financial statements. In January 2017, the FASB issued ASU No. 2017-4, “Intangibles
– Goodwill and Other” (Topic 350): Simplifying the Test for Goodwill Impairment, which eliminates Step 2 from the
goodwill impairment test. When an indication of impairment was identified after performing the first step of the goodwill impairment
test, Step 2 required that an entity determine the fair value at the impairment testing date of its assets and liabilities (including
unrecognized assets and liabilities) using the same procedure that would be required in determining the fair value of assets acquired
and liabilities assumed in a business combination. Under the amendments in ASU No. 2017-4, an entity will perform its annual,
or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying value. An entity
would recognize an impairment charge for the amount by which the carrying value exceeds the reporting unit’s fair value.
In addition, an entity must consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting
unit when measuring the goodwill impairment loss, if applicable. A public business entity that is a SEC filer should adopt
the amendments in ASU No. 2017-4 for its annual, or any interim, goodwill impairment tests in fiscal years beginning after December
15, 2019. The Company does not believe the guidance will have a material impact on its financial statements. In July 2017, the FASB issued ASU No. 2017-11, “Earnings
Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815): (Part I) Accounting
for Certain Financial Instruments with Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable
Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception”. The
ASU was issued to address the complexity associated with applying generally accepted accounting principles (GAAP) for certain
financial instruments with characteristics of liabilities and equity. The ASU, among other things, eliminates the need to consider
the effects of down round features when analyzing convertible debt, warrants and other financing instruments. As a result, a freestanding
equity-linked financial instrument (or embedded conversion option) no longer would be accounted for as a derivative liability
at fair value as a result of the existence of a down round feature. The amendments are effective for fiscal years beginning after
December 15, 2018, and should be applied retrospectively. Early adoption is permitted, including adoption in an interim period.
The Company does not expect the adoption to have any significant impact on its Financial Statements. The Company is currently
in the process of evaluating the impact of the adoption of this standard on its financial statements. Other accounting standards that have been issued or proposed by FASB
that do not require adoption until a future date are not expected to have a material impact on the financial statements upon adoption.
The Company does not discuss recent pronouncements that are not anticipated to have an impact on or are unrelated to its financial
condition, results of operations, cash flows or disclosures. |
