Blubuzzard (BZRD) 10-Q 13 Jul 23 2023 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2023	Jul. 13, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Entity File Number	000-56019
Entity Registrant Name	Blubuzzard, Inc.
Entity Central Index Key	0001765826
Entity Tax Identification Number	83-3740469
Entity Incorporation, State or Country Code	DE
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	true
Common Stock, Other Shares, Outstanding		729,483,160
Preferred Stock, Shares Outstanding	5,000	5,000	5,000	5,000	5,000

Balance Sheet (Unaudited)

Balance Sheet (Unaudited) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
TOTAL ASSETS
CURRENT LIABILITIES:
Accrued expenses
Loan from related party	131,523	121,211
Total current liabilities	131,523	121,211
TOTAL LIABILITIES	131,523	121,211
STOCKHOLDERS' DEFICIT:
Preferred stock ($0.001 par value, 20,000,000 shares authorized, 5,000 issued and outstanding as of March 31, 2023 and December 31, 2022)	5	5
Common stock ($0.001 par value, 5,000,000,000 shares authorized, 729,483,160  issued and outstanding as of March 31, 2023 and December 31, 2022)	729,483	729,483
Additional paid in capital	(717,511)	(717,511)
Accumulated deficit	(143,500)	(133,188)
Total Stockholders' deficit	(131,523)	(121,211)
TOTAL LIABILITIES & STOCKHOLDERS’ DEFICIT

Balance Sheet (Unaudited) (Pare

Balance Sheet (Unaudited) (Parenthetical)	Mar. 31, 2023 $ / shares shares
Statement of Financial Position [Abstract]
Preferred Stock Par Value | $ / shares	$ 0.001
Preferred Stock, Shares Authorized	20,000,000
Preferred Stock, Shares Issued	5,000
Common Stock Par Value | $ / shares	$ 0.001
Common Stock, Shares Authorized	5,000,000,000
Common Stock, Shares, Issued	729,483,160

Statement of Operations (Unaudi

Statement of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating expenses
General and administrative expenses	$ 10,312	$ 11,292
Total operating expenses	10,312	11,292
Net loss	$ (10,312)	$ (11,292)
Basic and Diluted net loss per common share	$ 0	$ 0
Weighted average number of common shares outstanding - Basic and Diluted	729,483,160	729,483,160

Statement of Changes in Stockho

Statement of Changes in Stockholders' Deficit (Unaudited) - USD ($)	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Preferred Stock, Shares Outstanding					5,000
Common Stock, Shares, Outstanding					729,483,160
Balance, value	$ 5	$ 729,483	$ (717,511)	$ (99,715)	$ (87,737)
Beginning balance, value at Dec. 31, 2021	5	729,483	(717,511)	(99,715)	(87,737)
Net loss				(11,292)	$ (11,292)
Preferred Stock, Shares Outstanding					5,000
Common Stock, Shares, Outstanding					729,483,160
Balance, value	5	729,483	(717,511)	(111,007)	$ (99,029)
Preferred Stock, Shares Outstanding					5,000
Common Stock, Shares, Outstanding					729,483,160
Balance, value	5	729,483	(717,511)	(133,188)	$ (121,211)
Beginning balance, value at Dec. 31, 2022	5	729,483	(717,511)	(133,188)	(121,211)
Net loss				(10,312)	$ (10,312)
Preferred Stock, Shares Outstanding					5,000
Common Stock, Shares, Outstanding					729,483,160
Balance, value	$ 5	$ 729,483	$ (717,511)	$ (143,500)	$ (131,523)

Statement of Changes in Stock_2

Statement of Changes in Stockholders' Deficit (Unaudited) Continued - USD ($)	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Preferred Stock, Shares Outstanding					5,000
Common Stock, Shares, Outstanding					729,483,160
Balance, value	$ 5	$ 729,483	$ (717,511)	$ (99,715)	$ (87,737)
Beginning balance, value at Dec. 31, 2021	5	729,483	(717,511)	(99,715)	(87,737)
Net loss				(11,292)	$ (11,292)
Preferred Stock, Shares Outstanding					5,000
Common Stock, Shares, Outstanding					729,483,160
Balance, value	5	729,483	(717,511)	(111,007)	$ (99,029)
Preferred Stock, Shares Outstanding					5,000
Common Stock, Shares, Outstanding					729,483,160
Balance, value	5	729,483	(717,511)	(133,188)	$ (121,211)
Beginning balance, value at Dec. 31, 2022	5	729,483	(717,511)	(133,188)	(121,211)
Net loss				(10,312)	$ (10,312)
Preferred Stock, Shares Outstanding					5,000
Common Stock, Shares, Outstanding					729,483,160
Balance, value	$ 5	$ 729,483	$ (717,511)	$ (143,500)	$ (131,523)

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (10,312)	$ (11,292)
Changes in operating assets and liabilities
Accrued expenses		(400)
Net cash used in operating activities	(10,312)	(11,692)
CASH FLOW FROM FINANCING ACTIVITIES
Loan from related party	10,312	11,692
Net cash provided by financing activities	10,312	11,692
Net Change in Cash and Cash equivalents
Cash and cash equivalents at beginning of year:
Cash and cash equivalents at end of year:
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Interest paid
Interest taxes paid

Note 1 - Organization and Descr

Note 1 - Organization and Description of Business	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Note 1 - Organization and Description of Business	Note 1 - Organization and Description of Business Blubuzzard, Inc. (we, us, our, or the "Company") was incorporated on December 6, 2018 in the State of Delaware with the name Fast Lane Holdings, Inc. The Company was created for the sole purpose of participating in a Delaware holding company reorganization with Giant Motorsports Delaware Inc. (“GMOS Delaware”), a Delaware corporation incorporated on December 6, 2018 and parent company of Fast Lane Holding, Inc. and Giant Motorsports Merger Sub, Inc., a Delaware corporation incorporated on December 6, 2018 and a wholly owned subsidiary of Fast Lane Holdings, Inc. pursuant to Section 251(g) of the General Corporation Law of the state of Delaware, (the “DGCL”). On December 6, 2018, Paul Moody was appointed Chief Executive Officer, Chief Financial Officer, and Director of Fast Lane Holdings, Inc., Giant Motorsports Delaware, Inc. and Giant Motorsports Merger Sub, Inc. On December 28, 2018, Giant Motorsports, Inc. (“GMOS Nevada”), a Nevada corporation merged with and into GMOS Delaware, a wholly owned subsidiary of GMOS Nevada with GMOS Delaware as the surviving corporation. The sole purpose to merge GMOS Nevada with and into GMOS Delaware was to re-domesticate GMOS Nevada from Nevada to Delaware. On December 28, 2018, Giant Motorsports Delaware, Inc. completed a holding company reorganization pursuant to Section 251(g) of the DGCL by merging with and into its indirect wholly owned subsidiary known as Giant Motorsports Merger Sub, Inc. with Giant Motorsports Delaware, Inc. as the surviving corporation and becoming a wholly owned subsidiary of Fast Lane Holdings, Inc. Fast Lane Holdings, Inc., as successor issuer to Giant Motorsports, Inc., continued to trade in the OTC MarketPlace under the previous ticker symbol “GMOS” until the new ticker symbol “FLHI” for the Company was released into the OTC MarketPlace on January 10, 2019. Concurrently, the Company cancelled all of its stock held in GMOS Delaware. On October 21, 2019, Giant Consulting Services, LLC, the largest controlling shareholder of Fast Lane Holdings, Inc., consummated a sale of 60,000,000 shares of our restricted common stock (pre-split) and 2,550 shares of preferred stock to Lykato Group, LLC, a Florida Limited Liability Company and an accredited investor. Following the closing of the share purchase transaction, Lykato Group, LLC owns approximately 82.25% interest in the issued and outstanding shares of our common stock. Lykato Group, LLC is now the largest controlling shareholder of the Company. Lykato Group, LLC is controlled by James Xilas. On October 21, 2019, Mr. Paul Moody resigned as our Chief Executive Officer, Chief Financial Officer, President, Secretary, Treasurer, and Director. The resignation was not the result of any disagreement with us on any matter relating to our operations, policies or practices. On October 21, 2019, Mr. James Xilas was appointed as Chief Executive Officer, Chief Financial Officer, President, Secretary, Treasurer, and Director and our name was changed to Blubuzzard, Inc. On December 11, 2019, James Xilas being the sole board director and majority shareholder by and through his beneficial interest in Lykato Group, LLC, a Florida limited liability company, did hereby take, ratify, affirm, and approve a 10:1 forward stock split affecting both authorized and outstanding common shares, change of our corporate name from “Fast Lane Holdings, Inc.” to “Blubuzzard, Inc.” and a ticker symbol change from “FLHI” to “BZRD”. The foregoing changes were effective on December 27, 2019 upon the filing of a Certificate of Amendment with the Delaware Secretary of State. The Company’s bylaws were amended to reflect the name change with no other changes made. The Company’s CUSIP number changed from 31189D109 to 095228102 as a result of the aforementioned actions. The market effective date for the symbol change is and was February 7, 2020. Pre-Split total common shares outstanding is and was 72,948,316. Post-Split total common shares outstanding is and remains 729,483,160. The Company intends to serve as a vehicle to affect an asset acquisition, merger, exchange of capital stock or other business combination with a domestic or foreign business. As of March 31, 2023, the Company had not yet commenced any operations. The Company has elected December 31st as its year end.

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Note 2 - Summary of Significant Accounting Policies	Note 2 - Summary of Significant Accounting Policies Basis of Presentation This summary of significant accounting policies is presented to assist in understanding the Company's financial statements. These accounting policies conform to accounting principles, generally accepted in the United States of America, and have been consistently applied in the preparation of the financial statements. 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 of the financial statements and the reported amounts of revenues and expenses during the reporting period. In the opinion of management, all adjustments necessary in order to make the financial statements not misleading have been included. Actual results could differ from those estimates. -F5- Table of Contents 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. Cash and cash equivalents at March 31, 2023 and December 31, 2022 were $0 for both periods. Income Taxes T he Company accounts for income taxes under ASC 740, “ Income Taxes Basic Earnings (Loss) Per Share The Company computes basic and diluted earnings (loss) per share in accordance with ASC Topic 260, Earnings per Share The Company does not have any potentially dilutive instruments as of March 31, 2023 and, thus, anti-dilution issues are not applicable. Fair Value of Financial Instruments The Company’s balance sheet includes certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization. ASC 820, Fair Value Measurements and Disclosures - Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. - Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. - Level 3 - Inputs that are both significant to the fair value measurement and unobservable. -F6- Table of Contents Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of March 31, 2023. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These financial instruments include accrued expenses. Related Parties The Company follows ASC 850, Related Party Disclosures, Share-Based Compensation ASC 718, “ Compensation – Stock Compensation The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50, “ Equity – Based Payments to Non-Employees.” The Company had no stock-based compensation plans as of March 31, 2023. The Company’s stock-based compensation for the periods ended March 31, 2023 and March 31, 2022 was $0 for both periods. Recently Issued Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). ASU 2016-02 We have no assets and or leases and do not believe we will be impacted in the foreseeable future by the newly adopted accounting standard(s) mentioned above. The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new pronouncements that have been issued that might have a material impact on its financial position or results of operations.

Note 3 - Going Concern

Note 3 - Going Concern	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Note 3 - Going Concern	Note 3 - Going Concern The Company’s financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern that contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company demonstrates adverse conditions that raise substantial doubt about the Company's ability to continue as a going concern for one year following the issuance of these financial statements. These adverse conditions are negative financial trends, specifically operating loss, working capital deficiency, and other adverse key financial ratios. The Company has not established any source of revenue to cover its operating costs. Management plans to fund operating expenses with related party contributions to capital. There is no assurance that management's plan will be successful. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary in the event that the Company cannot continue as a going concern.

Note 4 - Income Taxes

Note 4 - Income Taxes	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Note 4 - Income Taxes	Note 4 - Income Taxes The Company has not recognized an income tax benefit for its operating losses generated based on uncertainties concerning its ability to generate taxable income in future periods. The tax benefit for the period presented is offset by a valuation allowance established against deferred tax assets arising from the net operating losses, the realization of which could not be considered more likely than not. In future periods, tax benefits and related deferred tax assets will be recognized when management considers realization of such amounts to be more likely than not. As of March 31, 2023, the Company has incurred a net loss of approximately $143,500 which resulted in a net operating loss for income tax purposes. The loss results in a deferred tax asset of approximately $30,135 at the effective statutory rate of 21%. The deferred tax asset has been offset by an equal valuation allowance. On December 22, 2017, the Tax Cuts and Jobs Act of 2017 was signed into law. This legislation reduced the federal corporate tax rate from the previous 35% to 21%. Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carryforwards for Federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur, net operating loss carryforwards may be limited as to use in future years.

Note 5 - Commitments and Contin

Note 5 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Note 5 - Commitments and Contingencies	Note 5 - Commitments and Contingencies The Company follows ASC 450-20, Loss Contingencies, to report accounting for contingencies. Liabilities for loss contingencies arising from claims, assessments, litigation, fines and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated. There were no commitments or contingencies as of March 31, 2023.

Note 6 - Shareholder Equity

Note 6 - Shareholder Equity	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Note 6 - Shareholder Equity	Note 6 - Shareholder Equity Preferred Stock The authorized preferred stock of the Company consists of 20,000,000 shares with a par value of $0.001. There are 5,000 shares of Series A convertible Preferred Stock issued and outstanding as of March 31, 2023 and December 31, 2022. Common Stock The authorized common stock of the Company consists of 5,000,000,000 shares with a par value of $0.001. There were 729,483,160 shares of common stock issued and outstanding as of March 31, 2023 and December 31, 2022.

Note 7 - Related-Party Transact

Note 7 - Related-Party Transactions	3 Months Ended
	Mar. 31, 2023
Related Party Transactions [Abstract]
Note 7 - Related-Party Transactions	Note 7 - Related-Party Transactions Loan from Related Party During the period ended March 31, 2023, our sole director paid expenses totaling $10,312. This loan is noninterest-bearing, unsecured and payable on demand. As of March 31, 2023, the amount owed to our director by the Company totaled approximately $131,523. During the year ended December 31, 2022, our sole director paid expenses totaling $34,674. This loan is noninterest-bearing, unsecured and payable on demand. Office Space We utilize the home office space and equipment of our management at no cost.

Note 8 - Subsequent Events

Note 8 - Subsequent Events	3 Months Ended
	Mar. 31, 2023
Subsequent Events [Abstract]
Note 8 - Subsequent Events	Note 8 - Subsequent Events Subsequent to March 31, 2023, our sole director paid expenses on behalf of the Company totaling approximately $7,268. These payments are considered as a loan to the Company which is noninterest-bearing, unsecured and payable on demand.

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation This summary of significant accounting policies is presented to assist in understanding the Company's financial statements. These accounting policies conform to accounting principles, generally accepted in the United States of America, and have been consistently applied in the preparation of the financial statements.
Use of Estimates	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 of the financial statements and the reported amounts of revenues and expenses during the reporting period. In the opinion of management, all adjustments necessary in order to make the financial statements not misleading have been included. Actual results could differ from those estimates. -F5- Table of Contents
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. Cash and cash equivalents at March 31, 2023 and December 31, 2022 were $0 for both periods.
Income Taxes	Income Taxes T he Company accounts for income taxes under ASC 740, “ Income Taxes
Basic Earnings (Loss) Per Share	Basic Earnings (Loss) Per Share The Company computes basic and diluted earnings (loss) per share in accordance with ASC Topic 260, Earnings per Share The Company does not have any potentially dilutive instruments as of March 31, 2023 and, thus, anti-dilution issues are not applicable.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company’s balance sheet includes certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization. ASC 820, Fair Value Measurements and Disclosures - Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. - Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. - Level 3 - Inputs that are both significant to the fair value measurement and unobservable. -F6- Table of Contents Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of March 31, 2023. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These financial instruments include accrued expenses.
Related Parties	Related Parties The Company follows ASC 850, Related Party Disclosures,
Share-Based Compensation	Share-Based Compensation ASC 718, “ Compensation – Stock Compensation The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50, “ Equity – Based Payments to Non-Employees.” The Company had no stock-based compensation plans as of March 31, 2023. The Company’s stock-based compensation for the periods ended March 31, 2023 and March 31, 2022 was $0 for both periods.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). ASU 2016-02 We have no assets and or leases and do not believe we will be impacted in the foreseeable future by the newly adopted accounting standard(s) mentioned above. The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new pronouncements that have been issued that might have a material impact on its financial position or results of operations.