Kenloc 10-Q 28 Aug 19 2020 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Jun. 30, 2019	Aug. 17, 2019
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2019
Current Fiscal Year End Date	--03-31
Entity File Number	333-230996
Entity Registrant Name	Kenloc, Inc.
Entity Central Index Key	0001742491
Entity Incorporation, State or Country Code	NV
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		48,730,000
Document Fiscal period Focus	Q1
Document Fiscal Year Focus	2020

Balance Sheets

Balance Sheets - USD ($)	Jun. 30, 2019	Mar. 31, 2019
Current Assets
Cash and cash equivalents	$ 57,286	$ 70,118
Total Current Assets	57,286	70,118
TOTAL ASSETS	57,286	70,118
Current Liabilities
Accounts payable	1,637	2,418
Accrued interest - related party	1,866	1,453
Accrued management fees	9,000	14,000
Notes payable - related party	60,000	60,000
Due to related parties	100,000	100,000
Total Current Liabilities	172,503	177,871
Total Liabilities	172,503	177,871
Stockholders' Deficit
Preferred stock: 40,000,000 shares authorized; $0.0001 par value no shares issued and outstanding	0	0
Common stock: 160,000,000 shares authorized; $0.0001 par value 48,370,000 shares issued and outstanding	4,837	4,837
Additional paid in capital	23,463	23,463
Accumulated deficit	(143,517)	(136,053)
Total Stockholders' Deficit	(115,217)	(107,753)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 57,286	$ 70,118

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2019	Mar. 31, 2019
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	40,000,000	40,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	160,000,000	160,000,000
Common stock, shares issued	48,370,000	48,370,000
Common stock, shares outstanding	48,370,000	48,370,000

Statements of Operations

Statements of Operations - USD ($)	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Revenues	$ 0	$ 0
Operating Expenses
General and administrative	6,050	3,120
Professional fees	1,001	1,115
Total operating expenses	7,051	4,235
Operating Loss	(7,051)	(4,235)
Other expense
Interest expense	(413)	(211)
Total other expenses	(413)	(211)
Net Income before income taxes	(7,464)	(4,446)
Net Loss	$ (7,464)	$ (4,446)
Basic and Diluted Loss per Common Share	$ 0	$ 0
Basic and Diluted Weighted Average Common Shares Outstanding	48,370,000	46,555,604

Statements of Changes in Stockh

Statements of Changes in Stockholders' Equity - USD ($)	Common Stock	Additional Paid-In Capital	Subscription Receivable	Retained Earnings / Accumulated Deficit	Total
Beginning balance, shares at Mar. 31, 2018	46,000,000
Beginning balance, value at Mar. 31, 2018	$ 4,600		$ (46,000)	$ (100,000)	$ (100,000)
Payment of subscription receivable			$ 4,600		4,600
Issuance of common shares, shares	1,580,000
Issuance of common shares, value	$ 158	$ 15,642			15,800
Net loss				(4,446)	(4,446)
Ending balance, shares at Jun. 30, 2018	47,580,000
Ending balance, value at Jun. 30, 2018	$ 4,758	15,642		(104,446)	(84,046)
Beginning balance, shares at Mar. 31, 2019	48,370,000
Beginning balance, value at Mar. 31, 2019	$ 4,837	23,463		(136,053)	(107,753)
Payment of subscription receivable					0
Net loss				(7,464)	(7,464)
Ending balance, shares at Jun. 30, 2019	48,370,000
Ending balance, value at Jun. 30, 2019	$ 4,837	$ 23,463		$ (143,517)	$ (115,217)

Statements of Cash Flows

Statements of Cash Flows - USD ($)	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (7,464)	$ (4,446)
Changes in current assets and liabilities:
Accounts payable	(781)	298
Accrued management fees	(5,000)	0
Accrued interest, related party	413	211
Net cash used in operating activities	(12,832)	(3,937)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of common stock	0	15,800
Proceeds from common stock subscription to founder	0	4,600
Proceeds from related party notes payable	0	60,000
Repayment to related party	0	(25)
Net cash provided by Financing Activities	0	80,375
Net change in cash for period	(12,832)	76,438
Cash at beginning of period	70,118	25
Cash at end of period	57,286	76,463
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for income taxes	0	0
Cash paid for interest	$ 0	$ 0

1. Nature of Operations

1. Nature of Operations	3 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	1. NATURE OF OPERATIONS Kenloc, Inc. (the “Company”) is a for profit corporation established under the corporation laws in the State of Nevada, United States of America on February 12, 2018. Unless the context otherwise requires, all references to “Kenloc, Inc.,” “we,” “us,” “our” or the “company” are to Kenloc, Inc. We intend to provide consulting and advisory services to Chinese investors interested in real estate investments in the state of California. We intend to assist our clients in finding properties and evaluating them for purchase. Providing strategic advisory, transaction due diligence, and property management services to international and domestic investors. Our services are focused on the research and analysis of real estate properties; advising clients on the best use of their real estate assets, and on managing their properties. To date, the Company’s activities have been limited to the constructing of its website, as well as developing initial business contacts and services.

2. Basis of Presentation and Go

2. Basis of Presentation and Going Concern	3 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation and Going Concern	2. BASIS OF PRESENTATION AND GOING CONCERN Basis of Presentation The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial statements and with the instructions to Form 10-Q and Regulation S-X of the United States Securities and Exchange Commission (“SEC”). Accordingly, they do not contain all information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements. In the opinion of the company’s management, the accompanying unaudited interim financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the company as of June 30, 2019 and the results of operations and cash flows for the periods presented. The results of operations for the three months ended June 30, 2019 are not necessarily indicative of the operating results for the full fiscal year or any future period. These unaudited financial statements should be read in conjunction with the financial statements and related notes thereto included in the company’s Annual Report on Form 10-K for the year ended March 31, 2019 filed with the SEC on August 20, 2019. Going Concern The accompanying unaudited financial statements and notes have been prepared assuming that the Company will continue as a going concern. As of June 30, 2019, the Company had an accumulated deficit of $143,517. The Company’s ability to continue as a going concern is dependent upon the Company’s ability to generate sufficient revenues to operate profitably or raise additional capital through debt financing and/or through sales of common stock. The Company’s ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. There is no assurance that this series of events will be satisfactorily completed.

3. Summary of Significant Accou

3. Summary of Significant Accounting Policies	3 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of Estimates and Assumptions 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 of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates. Due to the limited level of operations, the Company has not had to make material assumptions or estimates other than the assumption that the Company is a going concern. The Company’s ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. There is no assurance that this series of events will be satisfactorily completed. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. The Company had $57,286 and $70,118 in cash and cash equivalents as at June 30, 2019 and March 31, 2019, respectively. Reclassification Certain amounts from prior periods have been reclassified to conform to the current period presentation. Recently Issued Accounting Pronouncements Management has considered all recent accounting pronouncements issued. The Company’s management believes that these recent pronouncements will not have a material effect on the Company’s financial statements.

4. Related Party Transactions

4. Related Party Transactions	3 Months Ended
	Jun. 30, 2019
Related Party Transactions [Abstract]
Related Party Transactions	4. RELATED PARTY TRANSACTIONS Due to Related Parties As of June 30, 2019 and March 31, 2019, there were advances of $100,000 owing to Lucas Yu Wu, who is our majority shareholder, officer and director. The advances bear no interest, and are due upon demand. Notes Payable On April 10, 2018 and June 1, 2018, the Company issued to an Mr. Yu, two promissory notes of $30,000 totaling to $60,000, respectively. Unpaid balances are due within 30 days after demand and have an annual interest rate of 2.67%. Notes payable and accrued interest as of June 30, 2019 and March 31, 2019, consist of the following: June 30, March 31, 2019 2019 Notes payable – related party $ 60,000 $ 60,000 Accrued interest – related party $ 1,866 $ 1,453 For the three months ended June 30, 2019 and 2018, interest expense was $413 and $211, respectively. The Company plans to pay the notes payable and accrued interest as cash flows become available. Management fees During the three months ended June 30, 2019, the Company recorded $6,000 in management fees to two officers of the Company. As of June 30, 2019 and March 31, 2019, there were accrued management fees of $9,000 and $14,000 owing to our officers and former director, respectively.

5. Subsequent Events

5. Subsequent Events	3 Months Ended
	Jun. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	5. SUBSEQUENT EVENTS Management evaluated all events subsequent to the balance sheet date through the date these financial statements were available to be issued and determined there are no events to report.

3. Summary of Significant Acc_2

3. Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Use of Estimates and Assumptions	Use of Estimates and Assumptions 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 of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates. Due to the limited level of operations, the Company has not had to make material assumptions or estimates other than the assumption that the Company is a going concern. The Company’s ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. There is no assurance that this series of events will be satisfactorily completed.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. The Company had $57,286 and $70,118 in cash and cash equivalents as at June 30, 2019 and March 31, 2019, respectively.
Reclassification	Reclassification Certain amounts from prior periods have been reclassified to conform to the current period presentation.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Management has considered all recent accounting pronouncements issued. The Company’s management believes that these recent pronouncements will not have a material effect on the Company’s financial statements.

4. Related Party Transactions (

4. Related Party Transactions (Tables)	3 Months Ended
	Jun. 30, 2019
Related Party Transactions [Abstract]
Schedule of related party balances	June 30, March 31, 2019 2019 Notes payable – related party $ 60,000 $ 60,000 Accrued interest – related party $ 1,866 $ 1,453

2. Basis of Presentation and _2

2. Basis of Presentation and Going Concern (Details Narrative) - USD ($)	Jun. 30, 2019	Mar. 31, 2019
Accounting Policies [Abstract]
Accumulated deficit	$ (143,517)	$ (136,053)

3. Summary of Significant Acc_3

3. Summary of Significant Accounting Policies (Details Narrative) - USD ($)	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018
Accounting Policies [Abstract]
Cash and cash equivalents	$ 57,286	$ 70,118	$ 76,463	$ 25

4. Related Party Transactions_2

4. Related Party Transactions (Details) - USD ($)	Jun. 30, 2019	Mar. 31, 2019
Related Party Transactions [Abstract]
Notes payable	$ 60,000	$ 60,000
Accrued interest	$ 1,866	$ 1,453

4. Related Party Transactions_3

4. Related Party Transactions (Details Narrative) - USD ($)	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Mar. 31, 2019	Jun. 01, 2018
Repayment of related party debt	$ 0	$ 25
Interest expense	413	211
Accrued management fees	9,000		$ 14,000
Proceeds from sale of common stock	0	$ 15,800
Lucas Wu [Member]
Due to related parties	$ 100,000		$ 100,000
Majority Shareholder [Member]
Note payable face amount				$ 60,000