Bangfu Technology (BFGX) 10-Q 6 May 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2019	Apr. 29, 2019
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Entity Registrant Name	KELINDA, INC.
Entity Central Index Key	0001741257
Current Fiscal Year End Date	--06-30
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		7,195,000

BALANCE SHEETS (Unaudited)

BALANCE SHEETS (Unaudited) - USD ($)	Mar. 31, 2019	Jun. 30, 2018
Fixed Assets
Furniture and Equipment	$ 1,969	$ 1,969
Accumulated Depreciation	(361)	(65)
Total Fixed Assets	1,608	1,904
TOTAL ASSETS	$ 9,296	$ 4,341
Stockholders' Equity (Deficit)
Common stock: $0.001 par value, 75,000,000 shares authorized, 7,195,000 and 7,000,000 shares issued and outstanding, respectively	7,195	7,000
Additional paid in capital	$ 5,655	$ 0
Accumulated deficit	(13,369)	(3,759)
Total Stockholders' Equity (Deficit)	(519)	3,241
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)	9,296	4,341
Current Liabilities
Related party loan	9,815	1,100
Total Current Liabilities	9,815	1,100
Total Liabilities	9,815	1,100
Cash	6,200	87
Prepaid Expenses	1,488	2,350
Total Current Assets	$ 7,688	$ 2,437

BALANCE SHEETS (Unaudited) (Par

BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($)	Mar. 31, 2019	Jun. 30, 2018
Statement of Financial Position [Abstract]
Common stock par value	$ 0.001	$ 0.001
Common stock shares authorized	75,000,000	75,000,000
Common stock shares issued and outstanding	7,195,000	7,195,000

STATEMENT OF OPERATIONS (Unaudi

STATEMENT OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended			9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2018	Mar. 31, 2019
Income Statement [Abstract]
REVENUE:	$ 0	$ 0	$ 0	$ 0
EXPENSES:
Advertising and Promotion	0	3,314	3,314	0
Professional Fees	924	0	0	8,489
Bank Service Charges	62	77	77	403
Depreciation Expense	98	0	0	295
Miscellaneous Expense	0	0	0	15
Rent Expense	138	0	0	408
Total expenses	1,222	3,391	3,391	9,610
OTHER INCOME (EXPENSE):
Interest Income (expense)	0	0	0	0
Total other income (expense)	0	0	0	0
Income (loss) before income taxes	(1,222)	3,391	3,391	(9,610)
Income tax expense	0	0	0	0
NET INCOME (LOSS)	$ (1,222)	$ (3,391)	$ (3,391)	$ (9,610)
Net loss per common share - basic & diluted	$ 0	$ 0	$ 0	$ 0
Weighted average of common shares outstanding - basic & diluted	7,008,667	321,168	733,333	7,002,847

STATEMENTS OF STOCKHOLDERS' EQU

STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - 9 months ended Mar. 31, 2019 - USD ($)	Total	Common Stock	Common Stock shares	Additional Paid-in Capital	Accumulated Deficit
Balance as of June 30, 2018 at Jun. 30, 2018	$ 3,241	$ 7,000	$ 7,000,000		$ (3,759)
Issuance of common stock	5,850	195	195,000	5,655
Net loss for the nine months period ended March 31, 2019	$ (9,610)				(9,610)
Balance as of March 31, 2019 at Mar. 31, 2019	$ (519)	$ 7,195	$ 7,195,000	$ 5,655	$ (13,369)

STATEMENT OF CASH FLOWS (Unaudi

STATEMENT OF CASH FLOWS (Unaudited) - USD ($)	4 Months Ended	9 Months Ended
	Mar. 31, 2018	Mar. 31, 2019
Statement of Cash Flows [Abstract]
Net Income	$ (3,391)	$ (9,610)
Adjustments to reconcile Net Income to net cash provided by operations:
Depreciation expense	0	296
Changes in operating assets and liabilities:
Prepaid expense	0	862
Net cash provided by Operating Activities	(3,391)	(8,452)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from related party loan	100	8,715
Proceeds from sale of common stock	7,000	5,850
Net cash provided by Financing Activities	7,100	14,565
Net cash increase for period	3,709	6,113
Cash at beginning of period	0	87
Cash at end of period	3,709	6,200
SUPPLEMENTAL CASH FLOW INFORMATION
Interest paid	0	0
Income taxes paid	$ 0	$ 0

- ORGANIZATION AND NATURE OF BU

- ORGANIZATION AND NATURE OF BUSINESS	9 Months Ended
	Mar. 31, 2019
- ORGANIZATION AND NATURE OF BUSINESS [Abstract]
- ORGANIZATION AND NATURE OF BUSINESS	NOTE 1 - ORGANIZATION AND NATURE OF BUSINESS Kelinda, Inc. (“the Company”, “we”, “us” or “our”) was incorporated on December 18, 2017 in the State of Nevada. The Company specializes on application development with its first project being an application of the same name Kelinda. It offers panels of various analyzes with schedules and reminders about necessity of visiting doctors, sent through the application and emails, storage of personal data (analyzes and conclusions). Users may upload them to their discretion and exchange the personal data. Users who downloaded the application can access the lists and data of another user upon receipt of invitation from the latter. We offer free basic schedules and more serious panels to both adults and children in order to prevent development of numerous diseases. In addition, Kelinda offers drug-taking reminders for an even more effective use of the application. The revenue is to be generated by subscription-based access sales. Our executive office is located at str. Mihail Kogalniceanu, 66 off. 3 Chisinau, The Republic of Moldova, MD-2009. The functional and reporting currency of the Company is the US dollar.

- GOING CONCERN

- GOING CONCERN	9 Months Ended
	Mar. 31, 2019
- GOING CONCERN [Abstract]
- GOING CONCERN	NOTE 2 - GOING CONCERN The accompanying financial statements have been prepared in conformity with generally accepted accounting principles, which contemplate continuation of the Company as a going concern. As a start-up, the Company had no revenues and incurred losses as of March 31, 2019. The Company currently has limited working capital and has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time. These conditions raise substantial doubt about the Company's ability to continue as a going concern. Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses The Company intends to position itself so that it will be able to raise additional funds through the capital markets. In light of management's efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern.

- SUMMARY OF SIGNIFICANT ACCOUN

- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Mar. 31, 2019
- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The accompanying unaudited 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”), including the instructions to Form 10-Q and Regulation S-X 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 of the Company for the nine month period ended March 31, 2019. The Company's year-end is June 30. Cash and Cash Equivalents The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company had $6,200 of cash as of March 31, 2019. Income Taxes Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. 8 KELINDA INC. NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE NINE MONTHS ENDED MARCH 31, 2019 Equipment Equipment is stated at cost, net of accumulated depreciation. The cost of equipment is depreciated using the straight-line method. We estimate that the useful life of equipment is 5 years Expenditures for maintenance and repairs are charged to expense as incurred. Additions, major renewals and replacements that increase the equipment's useful life are capitalized. Equipment sold or retired, together with the related accumulated depreciation is removed from the appropriated accounts and the resultant gain or loss is included in net income. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. Basic Income (Loss) Per Share The Company computes income (loss) per share in accordance with FASB ASC 260 “Earnings per Share”. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is antidilutive. There were no potentially dilutive debt or equity instruments issued or outstanding as of March 31, 2019 and June 30, 2018. 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. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which issued new guidance related to leases that outlines a comprehensive lease accounting model and supersedes the current lease guidance. The new guidance requires lessees to recognize lease liabilities and corresponding right-of-use assets for all leases with lease terms of greater than 12 months. It also changes the definition of a lease and expands the disclosure requirements of lease arrangements. The new guidance must be adopted using the modified retrospective approach and will be effective for the public entities for fiscal years beginning after December 15, 2018. Early adoption is permitted. The Company is currently evaluating the impact of this guidance, if any, on its financial statements and related disclosures.

- STOCKHOLDERS' EQUITY

- STOCKHOLDERS' EQUITY	9 Months Ended
	Mar. 31, 2019
- STOCKHOLDERS' EQUITY [Abstract]
- STOCKHOLDERS' EQUITY	NOTE 4 - STOCKHOLDERS' EQUITY The Company has 75,000,000, $0.001 par value shares of common stock authorized. On March 19, 2018, the Company issued 4,000,000 shares of common stock to the President, Petru Afanasenco, and, on March 20, 2018, the Company issued 3,000,000 shares of common stock to the Secretary, Andrei Afanasenco, for cash contributions of $4,000 and $3,000 at $0.001 per share, respectively. During March 2019, the Company issued 195,000 shares of common stock for cash proceeds of $5,850 at $0.03 per share. There were 7,195,000 shares of common stock issued and outstanding as of March 31, 2019.

- RELATED PARTY TRANSACTIONS

- RELATED PARTY TRANSACTIONS	9 Months Ended
	Mar. 31, 2019
- RELATED PARTY TRANSACTIONS [Abstract]
- RELATED PARTY TRANSACTIONS	NOTE 5 - RELATED PARTY TRANSACTIONS During the nine months period, ended March 31, 2019, the Company's officer, Andrei Afanasenco, has loaned to the Company $8,715. As of March 31, 2019, the balance due to the Company's officers Petru Afanasenco and Andrei Afanasenco was $100 and $9,715, respectively. These loans are unsecured, non-interest bearing and due on demand. 9 KELINDA INC. NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE NINE MONTHS ENDED MARCH 31, 2019

- COMMITMENTS AND CONTINGENCIES

- COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Mar. 31, 2019
- COMMITMENTS AND CONTINGENCIES [Abstract]
- COMMITMENTS AND CONTINGENCIES	NOTE 6 - COMMITMENTS AND CONTINGENCIES The Company has entered into a one-year rental agreement for a $46 monthly fee, starting on June 11, 2018.

- INCOME TAXES

- INCOME TAXES	9 Months Ended
	Mar. 31, 2019
- INCOME TAXES [Abstract]
- INCOME TAXES	NOTE 7 - INCOME TAXES The Company adopted the provisions of uncertain tax positions as addressed in ASC 740 “Income Taxes” (“ASC 740”). As a result of the implementation of ASC 740, the Company recognized no increase in the liability for unrecognized tax benefits. As of March 31, 2019, the Company had net operating loss carry forwards of approximately $13,369 that may be available to reduce future years' taxable income in varying amounts through 2037. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards. The valuation allowance at March 31, 2019 was approximately $2,808. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred income tax assets will not be realized. The ultimate realization of deferred income 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 income tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. Based on consideration of these items, management has determined that enough uncertainty exists relative to the realization of the deferred income tax asset balances to warrant the application of a full valuation allowance as of March 31, 2019. All tax years since inception remain open for examination by taxing authorities. The provision for Federal income tax consists of the following: March 31, 2019 June 30, 2018 Federal income tax benefit attributable to: Income tax benefit $ ( 2 , 019 ) (789) Change in valuation allowance 2 , 019 789 Net provision for Federal income taxes $ - - The cumulative tax effect at the expected rate of 21% of significant items comprising our net deferred tax amount is as follows: March 31, 2019 June 30, 2018 Deferred tax asset attributable to: Net operating loss carryover $ (2, 808 ) (789) Less: valuation allowance 2, 808 789 Net deferred tax asset $ - - The related deferred tax benefit on the above unutilized tax losses has a full valuation allowance not recognized against it as there is no certainty of its realization. Management has evaluated tax positions in accordance with ASC 740 and has not identified any significant tax positions, other than those disclosed.

- PREPAID EXPENSES

- PREPAID EXPENSES	9 Months Ended
	Mar. 31, 2019
- PREPAID EXPENSES [Abstract]
- PREPAID EXPENSES	NOTE 8 - PREPAID EXPENSES The Company had $1,350 in the prepaid expenses for the application development and $138 for prepaid rent as of March 31, 2019.

- SUBSEQUENT EVENTS

- SUBSEQUENT EVENTS	9 Months Ended
	Mar. 31, 2019
- SUBSEQUENT EVENTS [Abstract]
- SUBSEQUENT EVENTS	NOTE 9 - SUBSEQUENT EVENTS In accordance with ASC 855, “Subsequent Events”, the Company has analyzed its operations subsequent to March 31, 2019, through the date when financial statements were issued, and has determined that it does not have any material subsequent events to disclose in these financial statements. 10

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Mar. 31, 2019
Significant Accounting Policies (Policies) [Abstract]
Basis of presentation	Basis of presentation The accompanying unaudited 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”), including the instructions to Form 10-Q and Regulation S-X 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 of the Company for the nine month period ended March 31, 2019. The Company's year-end is June 30. Cash and Cash Equivalents The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company had $6,200 of cash as of March 31, 2019. Income Taxes Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. 8 KELINDA INC. NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE NINE MONTHS ENDED MARCH 31, 2019 Equipment Equipment is stated at cost, net of accumulated depreciation. The cost of equipment is depreciated using the straight-line method. We estimate that the useful life of equipment is 5 years Expenditures for maintenance and repairs are charged to expense as incurred. Additions, major renewals and replacements that increase the equipment's useful life are capitalized. Equipment sold or retired, together with the related accumulated depreciation is removed from the appropriated accounts and the resultant gain or loss is included in net income. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. Basic Income (Loss) Per Share The Company computes income (loss) per share in accordance with FASB ASC 260 “Earnings per Share”. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is antidilutive. There were no potentially dilutive debt or equity instruments issued or outstanding as of March 31, 2019 and June 30, 2018. 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. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which issued new guidance related to leases that outlines a comprehensive lease accounting model and supersedes the current lease guidance. The new guidance requires lessees to recognize lease liabilities and corresponding right-of-use assets for all leases with lease terms of greater than 12 months. It also changes the definition of a lease and expands the disclosure requirements of lease arrangements. The new guidance must be adopted using the modified retrospective approach and will be effective for the public entities for fiscal years beginning after December 15, 2018. Early adoption is permitted. The Company is currently evaluating the impact of this guidance, if any, on its financial statements and related disclosures.

- INCOME TAXES (Tables)

- INCOME TAXES (Tables)	9 Months Ended
	Mar. 31, 2019
- INCOME TAXES (Tables) [Abstract]
The provision for Federal income	The provision for Federal income tax consists of the following: March 31, 2019 June 30, 2018 Federal income tax benefit attributable to: Income tax benefit $ ( 2 , 019 ) (789) Change in valuation allowance 2 , 019 789 Net provision for Federal income taxes $ - -
The cumulative tax effect at the expected rate of 21% of significant items comprising our net deferred tax amount is as follows	The cumulative tax effect at the expected rate of 21% of significant items comprising our net deferred tax amount is as follows: March 31, 2019 June 30, 2018 Deferred tax asset attributable to: Net operating loss carryover $ (2, 808 ) (789) Less: valuation allowance 2, 808 789 Net deferred tax asset $ - -

- SUMMARY OF SIGNIFICANT ACCO_2

- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Text) - USD ($)	Mar. 31, 2019	Jun. 30, 2018	Dec. 13, 2017
Summary Of Significant_ Accounting Policies_ [Abstract]
The Company had $6,200 of cash as of March 31, 2019.	$ 6,200	$ 87	$ 0

- STOCKHOLDERS' EQUITY (Details

- STOCKHOLDERS' EQUITY (Details Text) - $ / shares	Mar. 31, 2019	Mar. 19, 2018
Stockholders_ Equity_ Details_ [Abstract]
On March 19, 2018, the Company issued 4,000,000 shares of common stock to the President, Petru Afanasenco, and, on March 20, 2018, the Company issued 3,000,000 shares of common stock to the Secretary, Andrei Afanasenco, for cash contributions of $4,000 and $3,000 at $0.001 per share, respectively.		7,000
During March 2019, the Company issued 195,000 shares of common stock for cash proceeds of $5,850 at $0.03 per share.	$ 5,850
There were 7,195,000 shares of common stock issued and outstanding as of March 31, 2019.	7,195,000

- RELATED PARTY TRANSACTIONS (D

- RELATED PARTY TRANSACTIONS (Details Text)	Mar. 31, 2019USD ($)
Related Party Transactions_ [Abstract]
During the nine months period, ended March 31, 2019, the Company's officer, Andrei Afanasenco, has loaned to the Company $8,715.	$ 8,715
As of March 31, 2019, the balance due to the Company's officers Petru Afanasenco and Andrei Afanasenco was $100 and $9,715, respectively	$ 9,815

- COMMITMENTS AND CONTINGENCI_2

- COMMITMENTS AND CONTINGENCIES (Details Text)	12 Months Ended
	Jun. 11, 2019USD ($)
Commitments And Contingencies Details_ [Abstract]
The Company has entered into a one-year rental agreement for a $46 monthly fee, starting on June 11, 2018.	$ 46

- INCOME TAXES (Details 1)

- INCOME TAXES (Details 1) - USD ($)	Mar. 31, 2019	Jun. 30, 2018
Income Taxes Details_ [Abstract]
Income tax benefit	$ (2,019)	$ (789)
Change in valuation allowance	$ 2,019	$ 789

- INCOME TAXES (Details 2)

- INCOME TAXES (Details 2) - USD ($)	12 Months Ended
	Mar. 31, 2019	Jun. 30, 2018
Income_ Taxes Abstract_ [Abstract]
Net operating loss carryover	$ (2,808)	$ (789)
Less: valuation allowance	$ 2,808	$ 789

- INCOME TAXES (Details Text)

- INCOME TAXES (Details Text)	Mar. 31, 2019USD ($)
Income Tax Expense (Benefit), Intraperiod Tax Allocation [Abstract]
As of March 31, 2019, the Company had net operating loss carry forwards of approximately $13,369 that may be available to reduce future years' taxable income in varying amounts through 2037	$ 13,369
The valuation allowance at March 31, 2019 was approximately $2,808	$ 2,808

- PREPAID EXPENSES (Details Tex

- PREPAID EXPENSES (Details Text)	Mar. 31, 2019USD ($)
Prepaid Expenses Details_ [Abstract]
The Company had $1,350 in the prepaid expenses for the application development and $138 for prepaid rent as of March 31, 2019.	$ 1,488

Uncategorized Items - none-2019

Label	Element	Value
Common Stock, Dividends, Per Share, Cash Paid	us-gaap_CommonStockDividendsPerShareCashPaid	$ 7,000
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	$ 3,609
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	(3,391)
Retained Earnings [Member]
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	(3,391)
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	$ (3,391)
Common Stock Shares [Member]
Common Stock, Dividends, Per Share, Cash Paid	us-gaap_CommonStockDividendsPerShareCashPaid	$ 7,000,000
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	$ 7,000,000
Common Stock [Member]
Common Stock, Dividends, Per Share, Cash Paid	us-gaap_CommonStockDividendsPerShareCashPaid	$ 7,000
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	$ 7,000