GD Acquisition 10-Q 26 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Aug. 23, 2019
Document And Entity Information
Entity Registrant Name	GD Acquisition Group, Inc.
Entity Central Index Key	0001740093
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Current Reporting Status	Yes
Document Period End Date	Jun. 30, 2019
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2019
Entity Ex Transition Period	false
Entity Common Stock Shares Outstanding		100,000

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)	Jun. 30, 2019	Dec. 31, 2018
CURRENT ASSETS:
Cash	$ 41	$ 3,010
Total current assets	41	3,010
Total Assets	41	3,010
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Total Liabilities
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' DEFICIENCY
Preferred stock $0.00001 par value: 20,000,000 shares authorized; none issued and outstanding
Common stock $0.00001 par value: 100,000,000 shares authorized; 100,000 shares issued and outstanding at June 30, 2019 and December 31, 2018	1	1
Additional paid in capital	8,956	5,961
Accumulated deficit	(8,916)	(2,952)
Total Stockholders' Equity	41	3,010
Total Liabilities and Stockholders' Equity	$ 41	$ 3,010

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2019	Dec. 31, 2018
STOCKHOLDERS' DEFICIENCY
Preferred stock, shares par value	$ 0.00001	$ 0.00001
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, shares par value	$ 0.00001	$ 0.00001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	100,000	100,000
Common stock, shares outstanding	100,000	100,000

CONDENSED STATEMENTS OF OPERATI

CONDENSED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
CONDENSED STATEMENTS OF OPERATIONS (Unaudited)
Revenue
Cost of revenue
Gross profit
Operating expenses	1,319		5,964
Net loss from operations	(1,319)		(5,964)
Interest expense
Net loss before income taxes	(1,319)		(5,964)
Income tax expense
Net loss	$ (1,319)		$ (5,964)
Loss per share - basic and diluted	$ (0.01)	$ 0	$ (0.06)	$ 0
Weighted average shares - basic and diluted	100,000	100,000	100,000	100,000

STATEMENT OF CHANGES IN STOCKHO

STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - USD ($)	Total	Common Stock 000001 Par Value Number of Shares	Additional Paid-in Capital	Stock Receivable	Accumulated Deficit
Beginning Balance, Shares at Dec. 31, 2017		100,000
Beginning Balance, Amount at Dec. 31, 2017		$ 1	$ 5,241	$ (5,000)	$ (242)
Contributed Capital	720		720
Net loss
Ending Balance, Shares at Jun. 30, 2018		100,000
Ending Balance, Amount at Jun. 30, 2018	720	$ 1	5,961	(5,000)	(242)
Beginning Balance, Shares at Dec. 31, 2018		100,000
Beginning Balance, Amount at Dec. 31, 2018	3,010	$ 1	5,961		(2,952)
Contributed Capital	2,995		2,995
Net loss	(5,964)				(5,964)
Ending Balance, Shares at Jun. 30, 2019		100,000
Ending Balance, Amount at Jun. 30, 2019	$ 41	$ 1	$ 8,956		$ (8,916)

CONDENSED STATEMENTS OF CASH FL

CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities
Net Loss	$ (5,964)
Changes in operating assets and liabilities
Net Cash Used in Operating Activities	(5,964)
Cash flows from Financing Activities:
Contributed Capital	2,995	720
Net cash provided by financing activities	2,995	720
Net increase (decrease) in cash	(2,969)	720
Cash-beginning of period	3,010
Cash-end of period	41	720
Supplemental Cash Information:
Interest paid in cash
Taxes paid in cash

ORGANIZATION AND NATURE OF OPER

ORGANIZATION AND NATURE OF OPERATIONS	6 Months Ended
	Jun. 30, 2019
ORGANIZATION AND NATURE OF OPERATIONS
NOTE 1 - ORGANIZATION AND NATURE OF OPERATIONS	GD Acquisition Group, Inc. (the “Company”) was incorporated in the State of Delaware on December 26, 2017 and established a fiscal year end of December 31st. The Company was formed to engage in any lawful business. The Company’s activities since formation have been limited to continuing to seek acquisition targets for the Company. The Company’s initial business plan was to seek and engage in an unidentified merger or acquisition. The Company continues its business plan and the Company will not restrict its search to any specific business, industry, or geographical location and the Company may participate in a business venture of virtually any kind or nature. This discussion of the proposed business is purposefully general and is not meant to be restrictive of the Company’s virtually unlimited discretion to search for and enter into potential business opportunities. The Company was formed to provide a method for a foreign or domestic private company to become a reporting company with a class of securities registered under the Securities Exchange Act of 1934.

BASIS OF PRESENTATION AND SUMMA

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2019
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
NOTE 2 - BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and the regulations of the United States Securities and Exchange Commission. The financial statements and accompanying notes are the representations of the Company’s management, who are responsible for their integrity and objectivity. These condensed unaudited financial statements should be read in conjunction with a reading of the Company’s financial statements and notes thereto for the year ended December 31, 2018, included in Form 10-12g filed with the SEC on March 11, 2019. Interim results of operations for the six months ended June 30, 2019, are not necessarily indicative of future results for the full year. The Company has not earned any revenue from operations since inception. 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 amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. CASH AND CASH EQUIVALENTS Cash and cash equivalents include cash on hand and on deposit at banking institutions and can include as well as all highly liquid short-term investments with original maturities of 90 days or less. There were no cash equivalents as of June 30, 2019 or 2018. INCOME TAXES Under ASC 740, “Income Taxes,” deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Valuation allowances are established when it is more likely than not that some or all of the deferred tax assets will not be realized. As of June 30, 2019 and December 31, 2018, there were no deferred tax assets and liabilities due to the uncertainty of the realization of net operating loss or carry forward prior to expiration. LOSS PER COMMON SHARE Basic loss per common share excludes dilution and is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted loss per common share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the loss of the entity. As of June 30, 2019 and 2018, there were no outstanding dilutive securities. FAIR VALUE OF FINANCIAL INSTRUMENTS The carrying amounts of financial assets such as cash, and accounts payable, approximate their fair values because of the short maturity of these instruments. RECENT ACCOUNTING PRONOUNCEMENTS Recent accounting pronouncements issued by the Financial Accounting Standards Board (“FASB”) (including its Emerging Issues Task Force) and the United States Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company’s financial statements. We have elected to use the extended transition period for complying with new or revised accounting standards under Section 102(b)(2) of the JOBS Act, which allows us to delay the adoption of new or revised accounting standards that have different effective dates for public and private companies until those standards apply to private companies. As a result of this election, our financial statements may not be comparable to companies that comply with public company effective dates.

GOING CONCERN

GOING CONCERN	6 Months Ended
	Jun. 30, 2019
GOING CONCERN
NOTE 3 - GOING CONCERN	The Company has yet to generate any revenue since inception to date. The Company had an accumulated deficit of $8,916 as of June 30, 2019. The Company’s continuation as a going concern is dependent on its ability to obtain additional financing from its stockholders or other sources, as may be required. The accompanying financial statements have been prepared assuming that the Company will continue as a going concern; however, the above condition raises substantial doubt about the Company’s ability to do so. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern. The Company currently has no commitments for the purchase of its equity. If the Company is unable to acquire additional working capital, it may not be able to execute its business plan.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Jun. 30, 2019
STOCKHOLDERS' EQUITY
NOTE 4 - STOCKHOLDERS' EQUITY	Effective February 23, 2018, the Company issued a total of One Hundred Thousand (100,000) shares of $0.00001 par value common stock to the Company’s two officers and directors. The shares were issued for $0.00001 per share for a total of One Dollar ($1). Management invested $5,000 for the shares. The Company is authorized to issue 100,000,000 shares of common stock, par value $0.00001 and 20,000,000 shares of preferred stock, par value $0.00001. As of June 30, 2019 and December 31, 2018, there are 100,000 shares of common stock and no shares of preferred stock issued and outstanding.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2019
RELATED PARTY TRANSACTIONS
NOTE 5 - RELATED PARTY TRANSACTIONS	As of June 30, 2019, the Company’s sole officers and directors have provided the Company with its only cash for operations. That is the Company’s sole officers and directors purchased a total of 100,000 shares of common stock for a total of $5,000. During 2018, Garrett Schmidt, the Company’s CEO paid $720 for operating expenses. This amount is not expected to be repaid by the Company and was recorded as Donated Capital. From April 1, 2019 to June 30, 2019, Garrett, the Company’s CEO contributed capital of $2,995 for operating expenses. This amount is not expected to be repaid by the Company and was recorded as Contributed Capital. The Company uses the office of an officer and director, without charge. The same officer has also provided legal services to the Company to date, without charge. The Company has a policy for related person transactions.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2019
SUBSEQUENT EVENTS
NOTE 6 - SUBSEQUENT EVENTS	Management has reviewed subsequent events through August 23, 2019, which is the date the combined financial statements were available for issuance.

BASIS OF PRESENTATION AND SUM_2

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2019
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
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 amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.
CASH AND CASH EQUIVALENTS	Cash and cash equivalents include cash on hand and on deposit at banking institutions and can include as well as all highly liquid short-term investments with original maturities of 90 days or less. There were no cash equivalents as of June 30, 2019 or 2018.
INCOME TAXES	Under ASC 740, “Income Taxes,” deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Valuation allowances are established when it is more likely than not that some or all of the deferred tax assets will not be realized. As of June 30, 2019 and December 31, 2018, there were no deferred tax assets and liabilities due to the uncertainty of the realization of net operating loss or carry forward prior to expiration.
LOSS PER COMMON SHARE	Basic loss per common share excludes dilution and is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted loss per common share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the loss of the entity. As of June 30, 2019 and 2018, there were no outstanding dilutive securities.
FAIR VALUE OF FINANCIAL INSTRUMENTS	The carrying amounts of financial assets such as cash, and accounts payable, approximate their fair values because of the short maturity of these instruments.
RECENT ACCOUNTING PRONOUNCEMENTS	Recent accounting pronouncements issued by the Financial Accounting Standards Board (“FASB”) (including its Emerging Issues Task Force) and the United States Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company’s financial statements. We have elected to use the extended transition period for complying with new or revised accounting standards under Section 102(b)(2) of the JOBS Act, which allows us to delay the adoption of new or revised accounting standards that have different effective dates for public and private companies until those standards apply to private companies. As a result of this election, our financial statements may not be comparable to companies that comply with public company effective dates.

ORGANIZATION AND NATURE OF OP_2

ORGANIZATION AND NATURE OF OPERATIONS (Details Narrative)	6 Months Ended
	Jun. 30, 2019
ORGANIZATION AND NATURE OF OPERATIONS (Details Narrative)
State of Incorporation	Delaware
Date of Incorporation	Dec. 26, 2017

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
GOING CONCERN (Details Narrative)
Accumulated deficit	$ (8,916)	$ (2,952)

STOCKHOLDERS' EQUITY (Details N

STOCKHOLDERS' EQUITY (Details Narrative) - USD ($)	1 Months Ended
	Feb. 23, 2018	Jun. 30, 2019	Dec. 31, 2018
Common Stock Shares Authorized		100,000,000	100,000,000
Common Stock shares outstanding		100,000	100,000
Common Stock Shares Issued		100,000	100,000
Common Stock Par Value		$ 0.00001	$ 0.00001
Preferred Stock Shares Authorized		20,000,000	20,000,000
Preferred Stock Par Value		$ 0.00001	$ 0.00001
Preferred Stock Shares Issued		0	0
Preferred Stock shares outstanding		0	0
Two officers and directors
Common Stock Shares Issued	100,000
Common Stock Par Value	$ 0.00001
Proceeds from stock receivable	$ 5,000
Proceeds from issuance of common stock	$ 1

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Common Stock Shares Issued	100,000		100,000
Contributed Capital	$ 2,995	$ 720
Sole officers and directors [Member]
Common Stock Shares Issued	100,000
Proceeds from issuance of common stock	$ 5,000
Chief Executive Officer [Member]
Contributed Capital	$ 2,995		$ 720