| Cover - shares | 21 Months Ended | |
| May 31, 2021 | Jul. 19, 2021 | |
| Cover [Abstract] | ||
| Entity Registrant Name | PACIFIC SPORTS EXCHANGE INC. | |
| Entity Central Index Key | 0001765651 | |
| Document Type | 10-Q | |
| Amendment Flag | false | |
| Current Fiscal Year End Date | --08-31 | |
| Entity Small Business | true | |
| Entity Shell Company | false | |
| Entity Emerging Growth Company | true | |
| Entity Current Reporting Status | Yes | |
| Document Period End Date | May 31, 2021 | |
| Entity Filer Category | Non-accelerated Filer | |
| Document Fiscal Period Focus | Q3 | |
| Document Fiscal Year Focus | 2021 | |
| Entity Ex Transition Period | false | |
| Entity Common Stock Shares Outstanding | 14,375,000 | |
| Document Quarterly Report | true | |
| Document Transition Report | false | |
| Entity File Number | 333-230690 | |
| Entity Incorporation State Country Code | NV | |
| Entity Tax Identification Number | 83-1189007 | |
| City Area Code | 877 | |
| Local Phone Number | 571-5562 | |
| Entity Interactive Data Current | Yes | |
| Entity Address Address Line 1 | 2149 Rio De Janeiro Ave. | |
| Entity Address City Or Town | Punta Gorda | |
| Entity Address State Or Province | FL | |
| Entity Address Postal Zip Code | 33983 |
| Balance Sheets - USD ($) | May 31, 2021 | Aug. 31, 2020 |
| Current Assets | ||
| Cash | $ 14,907 | $ 22,690 |
| Inventory | 1,900 | 2,269 |
| Total Current Assets | 16,807 | 24,959 |
| Total Assets | 16,807 | 24,959 |
| Current Liabilities | ||
| Accounts payable and accrued liabilities | 35,559 | 24,444 |
| Common stock payable | 0 | 1,500 |
| Total Current Liabilities | 35,559 | 25,944 |
| Stockholders' Deficit | ||
| Common stock: 220,000,000 shares authorized; $0.001 par value; 14,375,000 and 14,100,000 shares issued and outstanding, respectively | 14,375 | 14,100 |
| Additional paid-in capital | 62,691 | 57,466 |
| Accumulated deficit | (95,818) | (72,551) |
| Total Stockholders' Deficit | (18,752) | (985) |
| Total Liabilities and Stockholders' Deficit | $ 16,807 | $ 24,959 |
| Balance Sheets (Parenthetical) - $ / shares | May 31, 2021 | Aug. 31, 2020 |
| Balance Sheets | ||
| Common stock, shares authorized | 220,000,000 | 220,000,000 |
| Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
| Common stock, shares issued | 14,375,000 | 14,100,000 |
| Common stock, shares outstanding | 14,375,000 | 14,100,000 |
| Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
| May 31, 2021 | May 31, 2020 | May 31, 2021 | May 31, 2020 | |
| Statements of Operations (Unaudited) | ||||
| Revenues | $ 4,605 | $ 982 | $ 19,358 | $ 2,690 |
| Cost of goods sold | (2,019) | (554) | (13,400) | (2,006) |
| Gross profit | 2,586 | 428 | 5,958 | 684 |
| Operating Expenses | ||||
| General and administrative | 558 | 417 | 716 | 1,677 |
| Professional fees | 6,916 | 9,965 | 28,509 | 33,122 |
| Total operating expenses | 7,474 | 10,382 | 29,225 | 34,799 |
| Operating loss | (4,888) | (9,954) | (23,267) | (34,115) |
| Net loss | $ (4,888) | $ (9,954) | $ (23,267) | $ (34,115) |
| Basic and diluted loss per common share | $ 0 | $ 0 | $ 0 | $ 0 |
| Basic and diluted weighted average common shares outstanding | 14,375,000 | 13,100,000 | 14,368,978 | 13,100,000 |
| Statement of Changes in Stockholders' Equity (Unaudited) - USD ($) | Total | Common Stock | Additional Paid-In Capital | Retained Earnings (Accumulated Deficit) |
| Balance, shares at Aug. 31, 2019 | 13,100,000 | |||
| Balance, amount at Aug. 31, 2019 | $ 19,588 | $ 13,100 | $ 38,466 | $ (31,978) |
| Net loss | (19,300) | $ 0 | 0 | (19,300) |
| Balance, shares at Nov. 30, 2019 | 13,100,000 | |||
| Balance, amount at Nov. 30, 2019 | 288 | $ 13,100 | 38,466 | (51,278) |
| Balance, shares at Aug. 31, 2019 | 13,100,000 | |||
| Balance, amount at Aug. 31, 2019 | 19,588 | $ 13,100 | 38,466 | (31,978) |
| Net loss | (34,115) | |||
| Balance, shares at May. 31, 2020 | 13,100,000 | |||
| Balance, amount at May. 31, 2020 | (14,527) | $ 13,100 | 38,466 | (66,093) |
| Balance, shares at Nov. 30, 2019 | 13,100,000 | |||
| Balance, amount at Nov. 30, 2019 | 288 | $ 13,100 | 38,466 | (51,278) |
| Net loss | (4,861) | $ 0 | 0 | (4,861) |
| Balance, shares at Feb. 29, 2020 | 13,100,000 | |||
| Balance, amount at Feb. 29, 2020 | (4,573) | $ 13,100 | 38,466 | (56,139) |
| Net loss | (9,954) | $ 0 | 0 | (9,954) |
| Balance, shares at May. 31, 2020 | 13,100,000 | |||
| Balance, amount at May. 31, 2020 | (14,527) | $ 13,100 | 38,466 | (66,093) |
| Balance, shares at Aug. 31, 2020 | 14,100,000 | |||
| Balance, amount at Aug. 31, 2020 | (985) | $ 14,100 | 57,466 | (72,551) |
| Net loss | (5,870) | $ 0 | 0 | (5,870) |
| Issuance of common shares, shares | 275,000 | |||
| Issuance of common shares, amount | 5,500 | $ 275 | 5,225 | 0 |
| Balance, shares at Nov. 30, 2020 | 14,375,000 | |||
| Balance, amount at Nov. 30, 2020 | (1,355) | $ 14,375 | 62,691 | (78,421) |
| Balance, shares at Aug. 31, 2020 | 14,100,000 | |||
| Balance, amount at Aug. 31, 2020 | (985) | $ 14,100 | 57,466 | (72,551) |
| Net loss | (23,267) | |||
| Balance, shares at May. 31, 2021 | 14,375,000 | |||
| Balance, amount at May. 31, 2021 | (18,752) | $ 14,375 | 62,691 | (95,818) |
| Balance, shares at Nov. 30, 2020 | 14,375,000 | |||
| Balance, amount at Nov. 30, 2020 | (1,355) | $ 14,375 | 62,691 | (78,421) |
| Net loss | (12,509) | $ 0 | 0 | (12,509) |
| Balance, shares at Feb. 28, 2021 | 14,375,000 | |||
| Balance, amount at Feb. 28, 2021 | (13,864) | $ 14,375 | 62,691 | (90,930) |
| Net loss | (4,888) | $ 0 | 0 | (4,888) |
| Balance, shares at May. 31, 2021 | 14,375,000 | |||
| Balance, amount at May. 31, 2021 | $ (18,752) | $ 14,375 | $ 62,691 | $ (95,818) |
| Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
| May 31, 2021 | May 31, 2020 | |
| Cash Flows from Operating Activities | ||
| Net loss | $ (23,267) | $ (34,115) |
| Changes in operating assets and liabilities: | ||
| Inventory | 369 | 1,298 |
| Accounts payable and accrued liabilities | 11,115 | 14,550 |
| Net cash used in operating activities | (11,783) | (18,267) |
| Cash Flows from Financing Activities | ||
| Proceeds from issuance of common stock | 4,000 | 0 |
| Proceeds from common stock payable | 0 | 3,000 |
| Net cash provided by financing activities | 4,000 | 3,000 |
| Net change in cash for the period | (7,783) | (15,267) |
| Cash at beginning of period | 22,690 | 22,085 |
| Cash at end of period | 14,907 | 6,818 |
| Supplemental Cash Flow Information | ||
| Cash paid for income taxes | 0 | 0 |
| Cash paid for interest | 0 | 0 |
| Non-Cash Investing and Financing Activities | ||
| Issuance of common stock for common stock payable | $ 1,500 | $ 0 |
| GOING CONCERN AND LIQUIDITY CONSIDERATIONS | 9 Months Ended |
| May 31, 2021 | |
| GOING CONCERN AND LIQUIDITY CONSIDERATIONS | |
| NOTE 1 - GOING CONCERN AND LIQUIDITY CONSIDERATIONS | NOTE 1 – GOING CONCERN AND LIQUIDITY CONSIDERATIONS 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 liquidation of liabilities in the normal course of business. As of May 31, 2021, the Company has an accumulated deficit and has earned nominal operating revenues. The ability of the Company to obtain profitability is dependent upon, among other things, obtaining additional financing to continue operations, and development of its business plan. In response to these problems, management intends to raise additional operating funds through equity and/or debt financing. However, there can be no assurance management will be successful in its endeavours. There are no assurances that the Company will be able to either 1) achieve a level of revenues adequate to generate sufficient cash flow from operations; or 2) obtain additional financing through either private placement, public offerings and/or bank financing necessary to support its working capital requirements. To the extent that funds generated from operations and any private placements, public offerings and/or bank financing are insufficient, the Company will have to raise additional working capital. No assurance can be given that additional financing will be available, or if available, will be on terms acceptable to the Company. If adequate working capital is not available to the Company, it may be required to curtail or cease its operations. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty. COVID-19 In March 2020, the World Health Organization declared the outbreak of COVID-19 as a pandemic based on the rapid increase in global exposure. COVID-19 continues to spread throughout the world and as a result of the outbreak, many companies have experienced disruptions in their operations and in markets served. The full extent of the future impacts of COVID-19 on the Company’s operations is uncertain. A prolonged outbreak could have a material adverse impact on financial results and business operations of the Company, including the timing and ability of the Company to collect accounts receivable and procure materials and supplies. As an online-only re-seller of new and used sports equipment we do not have employees or a physical retail location where customers shop. Those factors somewhat mitigate against the negative effects of COVID-19 on our operations. To the extent that we hold any inventory in any sporting equipment we intend to resell, such equipment is thoroughly cleaned and sanitized upon our receipt thereof and will be again immediately prior to shipping such equipment to any buyer. For any equipment sold through us, but not held as inventory by us, we request the originating source of such equipment to thoroughly clean and sanitize all equipment prior to shipping the equipment to a buyer, and we also caution all buyers (whether buying inventory directly from us, or eq Although being an online only reseller of sports equipment with no physical “brick and mortar” retail site mitigates against the effects of COVID-19 on our operations, the previous and any current or future government issued “stay at home” orders, and the previous and any current or future closure, or limitations on the use, of gyms, athletic clubs, golf courses and other recreational facilities has had and will continue to have negative impacts our operations and ability to generate revenues from operations. The result of such orders and closures is that fewer people, both in the U.S. and around the World, are able (and/or willing) to engage in physical activities, and recreation, whether indoors or outdoors. While governmental restrictions continue to be lifted and more and more people are able to return to recreational activities, the potential still exists for future restrictions and closures due to different strains, or variants, of COVID-19, and the potential for the spread, and or resurgence, of the virus. Fewer people engaging in physical activities, and recreation, likely will mean fewer people in the market to purchase new and/or used sporting equipment which will have a materially negative affect on our ability to generate revenues from operations. If we are unable to generate sufficient revenues from operations to grow our business, or even sustain operations, we will be forced to rely on raising capital through debt and/or equity financing. There are no guarantees we will be able to raise additional capital through debt and/or equity financing. |
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
| May 31, 2021 | |
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
| NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 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 Article 8 of 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 financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as of May 31, 2021 and the results of operations and cash flows for the periods presented. The results of operations for the period ended May 31, 2021 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 August 31, 2020 filed with the SEC on December 14, 2020. Revenue Recognition Revenue is earned from the reselling of new and used sports equipment. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfils its obligations pursuant to each of its equipment sales transactions: · identify the contract with a customer; · identify the performance obligations in the contract; · determine the transaction price; · allocate the transaction price to performance obligations in the contract; and · recognize revenue as the performance obligation is satisfied. The Company operates as an online-only retailer and utilizes eBay Inc. (“eBay”) as its prime marketing channel. The Company currently relies on eBay, a third-party marketplace, to facilitate its sales. Such reliance on any third-party platform to generate revenues carries with it certain risks, including but not necessarily limited to: the Company could violate the terms of service and lose its selling privileges, or the sites themselves could experience technical issues and/or fail. The Company always strives to abide by the policies of any third-party platform and endeavours to provide superior customer service. Typical sales transactions are usually fulfilled within twenty-four (24) hours of completing the transaction online. Contracts stating the transaction price and our performance obligation to deliver the ordered products are deemed to be entered into via eBay at the time the customer submits payment, which is conducted through the PayPal payment platform. Due to the instantaneous nature of a customer submitting an order online at a stated price and the same or next business day shipment of product, the Company does not anticipate that variable consideration or contract assets or liabilities will arise in the normal course of business. Revenues are recognized based on the sales contract price, net of sales taxes, when control of the promised goods are transferred to a customer, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods. Our contracted prices primarily include cost of inventory, shipping and handling, eBay commission fee and our margin, which varies depending on each item. We may provide incentives to our customers from time to time, including discounts, coupons and rewards, which are treated as a reduction in revenue. We may provide sales under a consignment for a client. When acting as an agent, where we do not take delivery of the inventory, we record all costs of sales as a reduction in revenue. The Company does not accept returns and clearly indicates this in our listings. However, if a customer receives an item that is not as described in the eBay listing, we must follow the eBay moneyback guarantee policy which obligates us to issue a full refund within three (3) business days. We do not provide an estimate for returns as we do not anticipate any returns in the normal course of business. Consignment Sales The Company, as a consignee, provides a service to sell tennis racquets through its online marketplace with eBay. The Company retains a percentage of the proceeds received as payment for its consignment items, which the Company refers to as its ‘‘take rate.’’ The Company recognizes consignment revenue upon shipment of the consigned good to a customer as its performance obligation of providing consignment services to the consignor is satisfied at that point. The Company reports consignment revenue on a net basis as an agent and not the gross amount collected from a customer. Title to the consigned goods remain with the consignor until transferred to a customer subsequent to purchase of the consigned goods. In any event of damage or loss of consignment items, the Company will recognize an expense and will pay all related disbursements. The Company does not take title of consigned goods at any time. Other Sales The Company purchases used golf carts as their own inventory for resale. The Company reports revenue on a gross basis from amounts collected from the customer upon transferring the product to the buyer. Cost of Goods Sold Cost of goods sold includes inventory costs and expenses related to eBay fees, repair and shipping services. Recent Accounting Pronouncements The Company adopts new pronouncements relating to generally accepted accounting principles applicable to the Company as they are issued, which may be in advance of their effective date. Management does not believe that any recently issued, but not yet effective accounting standards, if currently adopted, would have a material effect on the accompanying financial statements. |
| EQUITY | 9 Months Ended |
| May 31, 2021 | |
| EQUITY | |
| NOTE 3 - EQUITY | NOTE 3 – EQUITY Common Stock The Company has authorized 220,000,000 shares of Common Stock 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. On September 6, 2020, pursuant to our S-1 Registration Statement declared effective on September 30, 2019, the Company issued 275,000 shares of Common Stock to unaffiliated individuals, for total proceeds of $5,500, of which $1,500 was received prior to year-end and reported as Common Stock payable in the August 31, 2020 balance sheet. As of May 31, 2021 and August 31, 2020, the Company had 14,375,000 and 14,100,000 shares of Common Stock issued and outstanding, respectively. |
| SUBSEQUENT EVENTS | 9 Months Ended |
| May 31, 2021 | |
| SUBSEQUENT EVENTS | |
| NOTE 4 - SUBSEQUENT EVENTS | NOTE 4 - SUBSEQUENT EVENTS The Company has evaluated events occurring subsequent to May 31, 2021 through the issuance of the financials and determined that there are no additional events requiring disclosure. |
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
| May 31, 2021 | |
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
| Basic 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 Article 8 of 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 financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as of May 31, 2021 and the results of operations and cash flows for the periods presented. The results of operations for the period ended May 31, 2021 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 August 31, 2020 filed with the SEC on December 14, 2020. |
| Revenue Recognition | Revenue is earned from the reselling of new and used sports equipment. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfils its obligations pursuant to each of its equipment sales transactions: · identify the contract with a customer; · identify the performance obligations in the contract; · determine the transaction price; · allocate the transaction price to performance obligations in the contract; and · recognize revenue as the performance obligation is satisfied. The Company operates as an online-only retailer and utilizes eBay Inc. (“eBay”) as its prime marketing channel. The Company currently relies on eBay, a third-party marketplace, to facilitate its sales. Such reliance on any third-party platform to generate revenues carries with it certain risks, including but not necessarily limited to: the Company could violate the terms of service and lose its selling privileges, or the sites themselves could experience technical issues and/or fail. The Company always strives to abide by the policies of any third-party platform and endeavours to provide superior customer service. Typical sales transactions are usually fulfilled within twenty-four (24) hours of completing the transaction online. Contracts stating the transaction price and our performance obligation to deliver the ordered products are deemed to be entered into via eBay at the time the customer submits payment, which is conducted through the PayPal payment platform. Due to the instantaneous nature of a customer submitting an order online at a stated price and the same or next business day shipment of product, the Company does not anticipate that variable consideration or contract assets or liabilities will arise in the normal course of business. Revenues are recognized based on the sales contract price, net of sales taxes, when control of the promised goods are transferred to a customer, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods. Our contracted prices primarily include cost of inventory, shipping and handling, eBay commission fee and our margin, which varies depending on each item. We may provide incentives to our customers from time to time, including discounts, coupons and rewards, which are treated as a reduction in revenue. We may provide sales under a consignment for a client. When acting as an agent, where we do not take delivery of the inventory, we record all costs of sales as a reduction in revenue. The Company does not accept returns and clearly indicates this in our listings. However, if a customer receives an item that is not as described in the eBay listing, we must follow the eBay moneyback guarantee policy which obligates us to issue a full refund within three (3) business days. We do not provide an estimate for returns as we do not anticipate any returns in the normal course of business. |
| Consignment Sales | The Company, as a consignee, provides a service to sell tennis racquets through its online marketplace with eBay. The Company retains a percentage of the proceeds received as payment for its consignment items, which the Company refers to as its ‘‘take rate.’’ The Company recognizes consignment revenue upon shipment of the consigned good to a customer as its performance obligation of providing consignment services to the consignor is satisfied at that point. The Company reports consignment revenue on a net basis as an agent and not the gross amount collected from a customer. Title to the consigned goods remain with the consignor until transferred to a customer subsequent to purchase of the consigned goods. In any event of damage or loss of consignment items, the Company will recognize an expense and will pay all related disbursements. The Company does not take title of consigned goods at any time. |
| Other Sales | The Company purchases used golf carts as their own inventory for resale. The Company reports revenue on a gross basis from amounts collected from the customer upon transferring the product to the buyer. |
| Cost of Goods Sold | Cost of goods sold includes inventory costs and expenses related to eBay fees, repair and shipping services. |
| Recent Accounting Pronouncements | The Company adopts new pronouncements relating to generally accepted accounting principles applicable to the Company as they are issued, which may be in advance of their effective date. Management does not believe that any recently issued, but not yet effective accounting standards, if currently adopted, would have a material effect on the accompanying financial statements. |
| EQUITY (Details Narrative) - USD ($) | 1 Months Ended | ||
| Sep. 06, 2020 | May 31, 2021 | Aug. 31, 2020 | |
| Common stock, shares outstanding | 14,375,000 | 14,100,000 | |
| Common stock, shares issued | 14,375,000 | 14,100,000 | |
| Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 | |
| Common stock, shares authorized | 220,000,000 | 220,000,000 | |
| Unaffiliated Individuals [Member] | |||
| Stock Issued During Period, shares | 275,000 | ||
| Common stock payable | $ 1,500 | ||
| Stock issued during period, value | $ 5,500 |
