FHT Future Technology (FHTF) 10-Q 12 Feb 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 31, 2019	Feb. 11, 2020
Details
Registrant CIK	0001764443
Fiscal Year End	--03-31
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2019
Document Transition Report	false
Entity File Number	333-230956
Entity Registrant Name	GHAR INC
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	35-2649453
Entity Address, Address Line One	5348 Vegas Drive
Entity Address, City or Town	Las Vegas
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89108
Entity Address, Address Description	Address of Principal Executive Offices
Phone Fax Number Description	Registrant’s telephone number, including area code
Country Region	1
City Area Code	800
Local Phone Number	404-4238
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
Entity Ex Transition Period	true
Entity Shell Company	true
Entity Common Stock, Shares Outstanding		5,000,000
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3

Balance Sheets (December 31, 20

Balance Sheets (December 31, 2019 Unaudited) - USD ($)	Dec. 31, 2019	Mar. 31, 2019
CURRENT ASSETS
Cash	$ 13	$ 1,232
Prepaid expenses	0	2,750
Total current assets	13	3,982
TOTAL ASSETS	13	3,982
CURRENT LIABILITIES
Accounts payable - related party	51,325	1,588
Total current liabilities	51,325	1,588
TOTAL LIABILITIES	51,325	1,588
STOCKHOLDERS' DEFICIT
Common Stock, Value	5,000	3,500
Additional paid-in capital	28,500	0
Accumulated deficit	(84,812)	(1,105)
Total stockholders' equity (deficit)	(51,312)	2,395
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 13	$ 3,982

Balance Sheets (December 31, _2

Balance Sheets (December 31, 2019 Unaudited) - Parenthetical - $ / shares	Dec. 31, 2019	Mar. 31, 2019
Details
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	75,000,000	75,000,000
Common Stock, Shares, Issued	5,000,000	3,500,000
Common Stock, Shares, Outstanding	5,000,000	3,500,000

Statement of Operations (Unaudi

Statement of Operations (Unaudited) - USD ($)	3 Months Ended	9 Months Ended
	Dec. 31, 2019	Dec. 31, 2019
Details
REVENUE		$ 0
OPERATING EXPENSES
Bank Charges	$ 250	304
General and administrative expense	18,375	23,402
Officer compensation	30,000	60,000
TOTAL OPERATING EXPENSES	48,625	83,706
Net loss from operation	(48,625)	(83,706)
Loss before income tax	(48,625)	(83,706)
Provision for income taxes	0	0
NET INCOME (LOSS)	$ (48,625)	$ (83,706)
BASIC AND DILUTED NET LOSS PER COMMON SHARE	$ 0	$ 0
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING, BASIC AND DILUTED	5,000,000	4,285,636

Statements of Stockholders' Equ

Statements of Stockholders' Equity (Unaudited) - USD ($)	Common Stock	Additional Paid-in Capital	Retained Earnings	Total
Equity Balance, Starting at Mar. 31, 2019	$ 3,500		$ (1,106)	$ 2,394
Shares Outstanding, Starting at Mar. 31, 2019	3,500,000
Net Income (Loss)			(3,470)	(3,470)
Equity Balance, Ending at Jun. 30, 2019	$ 3,500		(4,576)	(1,076)
Shares Outstanding, Ending at Jun. 30, 2019	3,500,000
Net Income (Loss)			(31,611)	(31,611)
Equity Balance, Ending at Sep. 30, 2019	$ 5,000	$ 28,500	(36,187)	(2,687)
Shares Outstanding, Ending at Sep. 30, 2019	5,000,000
Stock Issued During Period, Value, New Issues	$ 1,500	28,500		30,000
Stock Issued During Period, Shares, New Issues	1,500,000
Net Income (Loss)			(48,625)	(48,625)
Equity Balance, Ending at Dec. 31, 2019	$ 5,000	$ 28,500	$ (84,812)	$ (51,312)
Shares Outstanding, Ending at Dec. 31, 2019	5,000,000

Statement of Cash Flows (Unaudi

Statement of Cash Flows (Unaudited)	9 Months Ended
	Dec. 31, 2019USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ 83,706
Changes in operating assets and liabilities:
Decrease (increase) in prepaid expenses	(2,750)
Net cash used in operating activities	(80,956)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from sale of stock	30,000
Advance from related party	49,737
Net cash provided by financing activities	79,737
NET INCREASE IN CASH AND CASH EQUIVALENTS	(1,219)
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	1,232
Cash and Cash Equivalents, at Carrying Value, Ending Balance	13
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest	0
Cash paid for income taxes	$ 0

Note 1. Background information

Note 1. Background information	9 Months Ended
	Dec. 31, 2019
Notes
Note 1. Background information	Note 1. Background information Ghar Inc., was incorporated in the State of Nevada on December 11, 2018 and is located at 5348 Vegas Drive Las Vegas, NV, 89108. The company is a development stage company that intends to develop an online marketplace platform for users to buy, sell and rent items and services. To date, the company’s activities have been limited to raising capital, organizational matters and the structuring of its business plan. The company has not generated any revenues since inception.

Note 2. Going concern

Note 2. Going concern	9 Months Ended
	Dec. 31, 2019
Notes
Note 2. Going concern	Note 2. Going concern The accompanying financial statements have been prepared assuming that the company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. For the nine months ended December 31, 2019 the company had a net loss of $83,706. As of December 31, 2019 the company has not generated any revenues from operations. 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 the company’s ability to begin operations and to achieve a level of profitability. The company intends on financing its future development activities and its working capital needs largely from the sale of public equity securities with some additional funding from other traditional financing sources, including term notes until such time that funds provided by operations are sufficient to fund working capital requirements. The financial statements of the company do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classifications of liabilities that might be necessary should the company be unable to continue as a going concern.

Note 3. Summary of significant

Note 3. Summary of significant accounting policies	9 Months Ended
	Dec. 31, 2019
Notes
Note 3. Summary of significant accounting policies	Note 3. Summary of significant accounting policies The results for the nine months ended December 31, 2019 are not necessarily indicative of the results of operations for the full year. These financial statements and related footnotes should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10K for the year ended March 31, 2019 filed with the Securities and Exchange Commission. The accompanying condensed financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at December 31, 2019 and for the related periods presented. Development Stage Company The company is considered to be in the development stage as defined in ASC 915 “ Development Stage Entities. ” The company is devoting substantially all of its efforts to the development of its business plans. The company has elected to adopt early application of Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements; and 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”, the company expenses all costs incurred in connection with the start-up and organization of the company. 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. 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. Concentrations of Credit Risks The company’s financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and related party payables it will likely incur in the near future. The company places its cash with financial institutions of high credit worthiness. At times, its cash with a particular financial institution may exceed any applicable government insurance limits. The company’s management plans to assess the financial strength and credit worthiness of any parties to which it extends funds, and as such, it believes that any associated credit risk exposures are limited. Loss per Share The company has adopted ASC 260, “Earnings Per Share,” (“EPS”) which requires presentation of basic and diluted EPS on the face of the income statement for all entities with complex capital structures, and requires a reconciliation of the numerator and denominator of the basic EPS computation to the numerator and denominator of the diluted EPS computation. In the accompanying financial statements, basic loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. The company has no potentially dilutive securities, such as options or warrants, currently issued and outstanding. 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 December 31, 2019 the company did not have any amounts recorded pertaining to uncertain tax positions.

Note 4. Income taxes

Note 4. Income taxes	9 Months Ended
	Dec. 31, 2019
Notes
Note 4. Income taxes	Note 4. Income taxes At December 31, 2019 the Company had net operating loss carry forwards of approximately $84,812 that maybe offset against future taxable income. No tax benefit has been reported in the December 31, 2019 or March 31, 2019 financial statements since the potential tax benefit is offset by a valuation allowance of the same amount. On December 22, 2017 the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cut and Jobs Act (the “Tax Act”). The Tax Act establishes new tax laws that affects 2018 and future years, including a reduction in the U.S. federal corporate income tax rate to 21% effective January 1, 2018. For certain deferred tax assets and deferred tax liabilities, we have applied the new rate retroactively. December 31, 2019 March 31, 2019 Deferred Tax Assets: NOL Carryover $ 17,810 $ 232 Less valuation allowance (17,810) (232) Net deferred tax assets $ - $ - Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards for Federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur, net operating loss carry forwards may be limited as to use in future years. ASC Topic 740 provides guidance on the accounting for uncertainty in income taxes recognized in a company’s financial statements. Topic 740 requires a company to determine whether it is more likely than not that a tax position will be sustained upon examination based upon the technical merits of the position. If the more-likely-than-not threshold is met, a company must measure the tax position to determine the amount to recognize in the financial statements. The Company includes interest and penalties arising from the underpayment of income taxes in the statements of operations in the provision for income taxes. As of December 31, 2019 and March 31, 2019 the Company had no accrued interest or penalties related to uncertain tax positions.

Note 5. Loan payable, related p

Note 5. Loan payable, related party	9 Months Ended
	Dec. 31, 2019
Notes
Note 5. Loan payable, related party	Note 5. Loan payable, related party As of December 31, 2019, the company was obligated to Hamza Abid, the Company’s President in the amount of $51,325 for officer compensation and for various payments made to vendors for various services. The amount due is unsecured, due on demand, and non-interest bearing.

Note 6. Shareholders' Equity

Note 6. Shareholders' Equity	9 Months Ended
	Dec. 31, 2019
Notes
Note 6. Shareholders' Equity	Note 6. Shareholders' Equity Authorized Stock The Company has authorized 75,000,000 common shares with a par value of $0.001 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. Common Share Issuances Since inception December 11, 2018 the company has issued a total of 5,000,000 common shares for total proceeds of $33,500. Shares issued and outstanding as of December 31, 2019 are 5,000,000.

Note 7. Subsequent events

Note 7. Subsequent events	9 Months Ended
	Dec. 31, 2019
Notes
Note 7. Subsequent events	Note 7. Subsequent events In accordance with SFAS 165 (ASC 855-10) management has performed an evaluation of subsequent events through the date that the financial statements were available to be issued and through the date of the filing, and has determined that it does not have any material subsequent events to disclose in these financial statements other than the following.

Note 3. Summary of significan_2

Note 3. Summary of significant accounting policies: Development Stage Company (Policies)	9 Months Ended
	Dec. 31, 2019
Policies
Development Stage Company	Development Stage Company The company is considered to be in the development stage as defined in ASC 915 “ Development Stage Entities. ” The company is devoting substantially all of its efforts to the development of its business plans. The company has elected to adopt early application of Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements; and does not present or disclose inception-to-date information and other remaining disclosure requirements of Topic 915

Note 3. Summary of significan_3

Note 3. Summary of significant accounting policies: Basis of Presentation (Policies)	9 Months Ended
	Dec. 31, 2019
Policies
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).

Note 3. Summary of significan_4

Note 3. Summary of significant accounting policies: Use of estimates (Policies)	9 Months Ended
	Dec. 31, 2019
Policies
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.

Note 3. Summary of significan_5

Note 3. Summary of significant accounting policies: Start-Up Costs (Policies)	9 Months Ended
	Dec. 31, 2019
Policies
Start-Up Costs	Start-Up Costs In accordance with ASC 720, “ Start-up Costs”, the company expenses all costs incurred in connection with the start-up and organization of the company.

Note 3. Summary of significan_6

Note 3. Summary of significant accounting policies: Cash (Policies)	9 Months Ended
	Dec. 31, 2019
Policies
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.

Note 3. Summary of significan_7

Note 3. Summary of significant accounting policies: Fair Value Measurements (Policies)	9 Months Ended
	Dec. 31, 2019
Policies
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.

Note 3. Summary of significan_8

Note 3. Summary of significant accounting policies: Concentrations of Credit Risks (Policies)	9 Months Ended
	Dec. 31, 2019
Policies
Concentrations of Credit Risks	Concentrations of Credit Risks The company’s financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and related party payables it will likely incur in the near future. The company places its cash with financial institutions of high credit worthiness. At times, its cash with a particular financial institution may exceed any applicable government insurance limits. The company’s management plans to assess the financial strength and credit worthiness of any parties to which it extends funds, and as such, it believes that any associated credit risk exposures are limited.

Note 3. Summary of significan_9

Note 3. Summary of significant accounting policies: Loss per Share (Policies)	9 Months Ended
	Dec. 31, 2019
Policies
Loss per Share	Loss per Share The company has adopted ASC 260, “Earnings Per Share,” (“EPS”) which requires presentation of basic and diluted EPS on the face of the income statement for all entities with complex capital structures, and requires a reconciliation of the numerator and denominator of the basic EPS computation to the numerator and denominator of the diluted EPS computation. In the accompanying financial statements, basic loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. The company has no potentially dilutive securities, such as options or warrants, currently issued and outstanding.

Note 3. Summary of significa_10

Note 3. Summary of significant accounting policies: Income Taxes (Policies)	9 Months Ended
	Dec. 31, 2019
Policies
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 December 31, 2019 the company did not have any amounts recorded pertaining to uncertain tax positions.

Note 4. Income taxes_ Schedule

Note 4. Income taxes: Schedule of Components of Income Tax Expense (Benefit) (Tables)	9 Months Ended
	Dec. 31, 2019
Tables/Schedules
Schedule of Components of Income Tax Expense (Benefit)	December 31, 2019 March 31, 2019 Federal income tax benefit attributable to: Current operations $ 17,578 $ 232 Less valuation allowance (17,578) (232) Net provision for Federal income taxes $ - $ -

Note 4. Income taxes_ Schedul_2

Note 4. Income taxes: Schedule of Deferred Tax Assets and Liabilities (Tables)	9 Months Ended
	Dec. 31, 2019
Tables/Schedules
Schedule of Deferred Tax Assets and Liabilities	December 31, 2019 March 31, 2019 Deferred Tax Assets: NOL Carryover $ 17,810 $ 232 Less valuation allowance (17,810) (232) Net deferred tax assets $ - $ -

Note 1. Background information

Note 1. Background information (Details)	9 Months Ended
	Dec. 31, 2019
Details
Entity Incorporation, State or Country Code	NV
Entity Incorporation, Date of Incorporation	Dec. 11, 2018
Entity Address, Address Line One	5348 Vegas Drive
Entity Address, City or Town	Las Vegas
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89108

Note 2. Going concern (Details)

Note 2. Going concern (Details) - USD ($)	3 Months Ended	9 Months Ended
	Dec. 31, 2019	Dec. 31, 2019
Details
Net loss from operation	$ (48,625)	$ (83,706)
REVENUE		$ 0

Note 4. Income taxes (Details)

Note 4. Income taxes (Details)	Dec. 31, 2019USD ($)
Details
Unrecognized Tax Benefits	$ 0

Note 4. Income taxes_ Schedul_3

Note 4. Income taxes: Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($)	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2019
Federal income tax benefit attributable to:
Current operations	$ 17,578	$ 232
Less valuation allowance	(17,578)	(232)
Net provision for Federal income taxes	$ 0	$ 0	$ 0	$ 0

Note 4. Income taxes_ Schedul_4

Note 4. Income taxes: Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)	Dec. 31, 2019	Mar. 31, 2019
Deferred Tax Assets:
NOL Carryover	$ 17,810	$ 232
Less valuation allowance	(17,810)	(232)
Net deferred tax assets	$ 0	$ 0

Note 5. Loan payable, related_2

Note 5. Loan payable, related party (Details) - USD ($)	Dec. 31, 2019	Mar. 31, 2019
Details
Accounts payable - related party	$ 51,325	$ 1,588

Note 6. Shareholders' Equity (D

Note 6. Shareholders' Equity (Details) - USD ($)	13 Months Ended
	Dec. 31, 2019	Mar. 31, 2019
Details
Common Stock, Shares Authorized	75,000,000	75,000,000
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Stock Issued During Period, Shares, New Issues	5,000,000
Stock Issued	$ 33,500
Common Stock, Shares, Issued	5,000,000	3,500,000
Common Stock, Shares, Outstanding	5,000,000	3,500,000