Crucial Innovations (CINV) 10-Q 4 Oct 21 2021 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2021	Sep. 29, 2021
Cover [Abstract]
Entity Registrant Name	CRUCIAL INNOVATIONS CORP.
Entity Central Index Key	0001766016
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Current Reporting Status	Yes
Document Period End Date	Jun. 30, 2021
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021
Entity Ex Transition Period	false
Entity Common Stock Shares Outstanding		32,417,002
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation State Country Code	NV
Entity Interactive Data Current	Yes
Entity File Number	333-229638
Entity Tax Identification Number	98-1446012
Entity Address Address Line 1	3773 Howard Hughes Parkway
Entity Address Address Line 2	Suite 500S
Entity Address City Or Town	Las Vegas
Entity Address State Or Province	NV
Entity Address Postal Zip Code	89169
City Area Code	702
Local Phone Number	553-8372

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Current Assets
Cash	$ 0	$ 0
Total Current Assets	0	0
Total Assets	0	0
Current Liabilities
Accounts payable	5,019	429
Convertible note and accrued interest, net of unamortized discount	8,556	0
Total Current Liabilities	13,575	429
Total Liabilities	13,575	429
Stockholders' Deficit
Common stock: 75,000,000 authorized; $0.0001 par value, 32,417,002 shares issued and outstanding, respectively	3,241	3,241
Additional paid-in capital	94,390	87,910
Accumulated deficit	(111,206)	(91,580)
Total Stockholders' Deficit	(13,575)	(429)
Total Liabilities and Stockholders' Deficit	$ 0	$ 0

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
BALANCE SHEETS
Common Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	75,000,000	75,000,000
Common Stock, Shares, Issued	32,417,002	32,417,002
Common Stock, Shares, Outstanding	32,417,002	32,417,002

STATEMENTS OF OPERATIONS (Unaud

STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
STATEMENTS OF OPERATIONS (Unaudited)
Revenues	$ 0	$ 0	$ 0	$ 0
Operating expenses
General and administrative expenses	11,070	5,926	11,070	11,181
Total operating expenses	11,070	5,926	11,070	11,181
Net loss from operations	(11,070)	(5,926)	(11,070)	(11,181)
Other Expense
Interest expense	(8,556)	0	(8,556)	0
Total other expense	(8,556)	0	(8,556)	0
Net loss before taxes	(19,626)	(5,926)	(19,626)	(11,181)
Provision for income taxes	0	0	0	0
Net loss	$ (19,626)	$ (5,926)	$ (19,626)	$ (11,181)
Basic and diluted loss per common share	$ 0	$ 0	$ 0	$ (0.01)
Weighted average number of common shares outstanding, basic and diluted	32,417,002	1,872,113	32,417,002	1,872,113

STATEMENTS OF STOCKHOLDERS DEFI

STATEMENTS OF STOCKHOLDERS DEFICIT (Unaudited) - USD ($)	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit
Balance, shares at Dec. 31, 2019		2,417,002
Balance, amount at Dec. 31, 2019	$ (35,862)	$ 241	$ 24,919	$ (61,022)
Net loss	(5,255)	$ 0	0	(5,255)
Balance, shares at Mar. 31, 2020		2,417,002
Balance, amount at Mar. 31, 2020	(41,117)	$ 241	24,919	(66,277)
Balance, shares at Dec. 31, 2019		2,417,002
Balance, amount at Dec. 31, 2019	(35,862)	$ 241	24,919	(61,022)
Net loss	(11,181)
Balance, shares at Jun. 30, 2020		2,417,002
Balance, amount at Jun. 30, 2020	(47,043)	$ 241	24,919	(72,203)
Balance, shares at Mar. 31, 2020		2,417,002
Balance, amount at Mar. 31, 2020	(41,117)	$ 241	24,919	(66,277)
Net loss	(5,926)	$ 0	0	(5,926)
Balance, shares at Jun. 30, 2020		2,417,002
Balance, amount at Jun. 30, 2020	(47,043)	$ 241	24,919	(72,203)
Balance, shares at Dec. 31, 2020		32,417,002
Balance, amount at Dec. 31, 2020	(429)	$ 3,241	87,910	(91,580)
Net loss	0	$ 0	0	0
Balance, shares at Mar. 31, 2021		32,417,002
Balance, amount at Mar. 31, 2021	(429)	$ 3,241	87,910	(91,580)
Balance, shares at Dec. 31, 2020		32,417,002
Balance, amount at Dec. 31, 2020	(429)	$ 3,241	87,910	(91,580)
Net loss	(19,626)
Balance, shares at Jun. 30, 2021		32,417,002
Balance, amount at Jun. 30, 2021	(13,575)	$ 3,241	94,390	(111,206)
Balance, shares at Mar. 31, 2021		32,417,002
Balance, amount at Mar. 31, 2021	(429)	$ 3,241	87,910	(91,580)
Net loss	(19,626)	0	0	(19,626)
Beneficial conversion feature	6,480	$ 0	6,480	0
Balance, shares at Jun. 30, 2021		32,417,002
Balance, amount at Jun. 30, 2021	$ (13,575)	$ 3,241	$ 94,390	$ (111,206)

STATEMENTS OF CASH FLOWS (Unaud

STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash Flows from Operating Activities:
Net loss	$ (19,626)	$ (11,181)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	0	1,302
Amortization of debt discount	5,544	0
Changes in operating assets and liabilities:
Accounts payable - related party	4,590	7,500
Accrued expenses	0	(2,000)
Accrued interest	3,012	0
Net Cash Used in Operating Activities	(6,480)	(4,379)
Cash Flows from Financing Activities:
Director loan - related party	0	4,379
Proceed from convertible note	6,480	0
Net Cash Provided by Financing Activities	6,480	4,379
Net change in cash	0	0
Cash, beginning of period	0	1,950
Cash, end of period	0	1,950
Supplemental cash flow information:
Cash paid for interest	0	0
Cash paid for taxes	0	0
Supplemental disclosure of non-cash financing activity
Beneficial conversion feature	$ 6,480	$ 0

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
NOTE 1- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited interim financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, the unaudited interim financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments consisting of normal recurring entries necessary for a fair statement of the periods presented for: (a) the financial position; (b) the result of operations; and (c) cash flows, have been made in order to make the unaudited interim financial statements presented not misleading. The results of operations for such interim periods are not necessarily indicative of operations for a full year. The accompanying unaudited interim financial statements should be read in conjunction with the financial statements and related notes included in the Company’s Annual Report on Form 10-K, for the year ended December 31, 2020, as filed with the SEC on June 8, 2021. 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 the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.

GOING CONCERN

GOING CONCERN	6 Months Ended
	Jun. 30, 2021
GOING CONCERN
NOTE 2- GOING CONCERN	NOTE 2 – GOING CONCERN 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 liquidation of liabilities in the normal course of business. As of June 30, 2021, the Company had an accumulated deficit of $111,206, a net loss of $19,626 for the six months ended June 30, 2021 and has not earned any revenues. The Company intends to fund operations through equity financing arrangements and related party advances, which may be insufficient to fund its capital expenditures, working capital and other cash requirements for the year ending December 31, 2021. The ability of the Company to emerge from an early stage 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 funds through public or private placement offerings. 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.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2021
RELATED PARTY TRANSACTIONS
NOTE 3- RELATED PARTY TRANSACTIONS	NOTE 3 – RELATED PARTY TRANSACTIONS During the six months ended June 30, 2021 and 2020, our former director advanced $0 and $2,854 for operating expenses. During the six months ended June 30, 2021 and 2020, consulting services rendered by related party to the Company were $0 and $3,750, respectively.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2021
COMMITMENTS AND CONTINGENCIES
NOTE 4- COMMITMENTS AND CONTINGENCIES	NOTE 4 – COMMITMENTS AND CONTINGENCIES Our sole officer and director has agreed to provide her own premise under office needs. She will not take any fee for these premises; it is for free use. The extent of the impact of the coronavirus (“COVID‐19”) outbreak on the financial performance of the Company will depend on future developments, including the duration and spread of the outbreak and related advisories and restrictions and the impact of COVID‐19 on the overall economy, all of which are highly uncertain and cannot be predicted. If the overall economy is impacted for an extended period, the Company’s future operating results may be materially adversely affected.

CONVERTIBLE NOTE

CONVERTIBLE NOTE	6 Months Ended
	Jun. 30, 2021
CONVERTIBLE NOTE
NOTE 5- CONVERTIBLE NOTE	NOTE 5 – CONVERRTIBLE NOTE During the six months ended June 30, 2021, the Company issued a convertible note with a conversion price of 60% discount on the market price to pay operating expenses of $6,480. The Company shall repay the amount of $10,000 within 90 days. The Company recorded a discount on the convertible notes due to a beneficial conversion feature of $6,480. During the six months ended June 30, 2021, the Company recorded interest expense of $3,012 and amortization of debt discount of $5,544. At June 30, 2021, the Company had convertible note of $6,480, accrued interest of $3,012 and debt discount of $936 as of June 30, 2021.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2021
SUBSEQUENT EVENTS
NOTE 6- SUBSEQUENT EVENTS	NOTE 6 – SUBSEQUENT EVENTS On December 31, 2020, the Company entered into a definitive Equity Purchase Agreement with Mercantile Global Holdings, Inc., a Delaware corporation (“MGH”). On September 2, 2021, the Company and MGH entered into a Mutual Termination Agreement, whereby the parties agreed to terminate the Equity Purchase Agreement. The Mutual Termination Agreement provided for a mutual release of the parties. On September 13, 2021, the Company entered into a definitive Share Purchase Agreement (the “Agreement”) with JPD Capital PCC, a Guernsey Channel Islands registered company (“JPD”) . Pursuant to the terms of the Agreement, the Company will acquire from JPD an aggregate of 96% of all of the issued and outstanding shares of capital stock of Eco Equity Zimbabwe, a Zimbabwe registered company (“ECO”), in exchange for consideration consisting of 42,000,000 restricted shares of Company’s common stock, $0.0001 par value, which will represent Fifty-six percent (56%) of all issued and outstanding shares of Company common stock at the time of the closing of the transaction. The Agreement also provides for the Company, post-closing, to increase the number of its authorized shares of common stock from 75,000,000 shares to 80,000,000 shares, in anticipation of a post-closing private placement stock of 5,000,000 shares of the Company’s common stock. Coincident with the closing of the transaction, the Company’s existing officers and directors will resign and JPD shall name a majority of the new directors, who shall then appoint a new Chief Executive Officer, Chief Financial Officer, and Secretary of the Company.

SUMMARY OF SIGNIFCANT ACCOUNTIN

SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation	The accompanying unaudited interim financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, the unaudited interim financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments consisting of normal recurring entries necessary for a fair statement of the periods presented for: (a) the financial position; (b) the result of operations; and (c) cash flows, have been made in order to make the unaudited interim financial statements presented not misleading. The results of operations for such interim periods are not necessarily indicative of operations for a full year. The accompanying unaudited interim financial statements should be read in conjunction with the financial statements and related notes included in the Company’s Annual Report on Form 10-K, for the year ended December 31, 2020, as filed with the SEC on June 8, 2021.
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 the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
GOING CONCERN
Accumulated deficit	$ (111,206)				$ (111,206)		$ (91,580)
Net loss	$ (19,626)	$ 0	$ (5,926)	$ (5,255)	$ (19,626)	$ (11,181)

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Related Party [Member]
Consulting services rendered by related party	$ 0	$ 3,750
Former Director [Member]
Operating expenses	$ 0	$ 2,854

CONVERTIBLE NOTE (Details Narra

CONVERTIBLE NOTE (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
CONVERTIBLE NOTE
Conversion price, discount rate	60.00%
Net cash used in operating activities	$ (6,480)	$ (4,379)
Repayment of debt	10,000
Beneficial conversion feature	6,480	0
Proceed from convertible note	6,480	0
Interest expense	3,012
Amortization of debt discount	5,544	0
Accrued interest	3,012	$ 0
Debt discount	$ 936

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - $ / shares	Sep. 13, 2021	Jun. 30, 2021	Dec. 31, 2020
Common stock par value		$ 0.0001	$ 0.0001
Subsequent Event [Member] | Share Purchase Agreement [Member] | JPD Capital PCC [Member]
Increase number of common stock shares authorized	80,000,000
Private placement	5,000,000
Common stock par value	$ 0.0001
Ownership percentage issued and oustanding shares	96.00%
Restricted shares of common stock	42,000,000