Document and Entity Information
Document and Entity Information | 9 Months Ended |
Feb. 28, 2023 shares | |
Details | |
Registrant CIK | 0001778343 |
Fiscal Year End | --05-31 |
Document Type | 10-Q |
Document Quarterly Report | true |
Document Period End Date | Feb. 28, 2023 |
Document Transition Report | false |
Entity File Number | 000-56509 |
Entity Registrant Name | Lucent, Inc. |
Entity Incorporation, State or Country Code | MT |
Entity Tax Identification Number | 83-4628133 |
Entity Address, Address Line One | 1633 East Fourth Street |
Entity Address, Address Line Two | Suite 148 |
Entity Address, City or Town | Santa Ana |
Entity Address, State or Province | CA |
Entity Address, Postal Zip Code | 92701 |
City Area Code | 213 |
Local Phone Number | 298-3812 |
Entity Current Reporting Status | No |
Entity Interactive Data Current | No |
Entity Filer Category | Non-accelerated Filer |
Entity Small Business | true |
Entity Emerging Growth Company | true |
Entity Ex Transition Period | false |
Entity Shell Company | false |
Entity Common Stock, Shares Outstanding | 5,000,000 |
Amendment Flag | false |
Document Fiscal Year Focus | 2023 |
Document Fiscal Period Focus | Q3 |
CONDENSED BALANCE SHEETS
CONDENSED BALANCE SHEETS - USD ($) | Feb. 28, 2023 | May 31, 2022 |
Current Assets | ||
Cash | $ 13 | $ 13 |
Prepaid Expenses | 36 | 36 |
Total Current Assets | 49 | 49 |
TOTAL ASSETS | 49 | 49 |
Current Liabilities | ||
Accounts Payable and Accrued Expenses | 0 | 0 |
Due to Related Party | 7,570 | 7,570 |
Total Current Liabilities | 7,570 | 7,570 |
TOTAL LIABILITIES | 7,570 | 7,570 |
STOCKHOLDERS' EQUITY (DEFICIT) | ||
Common Stock, $0.0001 Par Value Authorized Common Stock 200,000,000 Shares Issued and Outstanding 5,000,000 at February 28, 2023, and May 31, 2022 | 500 | 500 |
Additional Paid-In-Capital | 1,500 | 1,500 |
Accumulated Deficit | (9,521) | (9,521) |
TOTAL STOCKHOLDERS' EQUITY (DEFICIT) | (7,521) | (7,521) |
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT) | $ 49 | $ 49 |
CONDENSED BALANCE SHEETS - Pare
CONDENSED BALANCE SHEETS - Parenthetical - $ / shares | Feb. 28, 2023 | May 31, 2022 |
CONDENSED BALANCE SHEETS | ||
Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 |
Common Stock, Shares Authorized | 200,000,000 | 200,000,000 |
Common Stock, Shares, Issued | 5,000,000 | 5,000,000 |
CONDENSED STATEMENTS OF OPERATI
CONDENSED STATEMENTS OF OPERATIONS - USD ($) | 3 Months Ended | 9 Months Ended | ||
Feb. 28, 2023 | Feb. 28, 2022 | Feb. 28, 2023 | Feb. 28, 2022 | |
REVENUES | ||||
Revenue | $ 0 | $ 0 | $ 0 | $ 0 |
OPERATING EXPENSES | ||||
General and administrative expenses | 0 | 0 | 0 | 0 |
Professional fees | 0 | 0 | 0 | 0 |
Total Operating Expenses | 0 | 0 | 0 | 0 |
LOSS FROM OPERATIONS | 0 | 0 | 0 | 0 |
Provision For Income Taxes | 0 | 0 | 0 | 0 |
Net Income (Loss) | $ 0 | $ 0 | $ 0 | $ 0 |
BASIC AND DILUTED LOSS PER COMMON SHARE | $ 0 | $ 0 | $ 0 | $ 0 |
WEIGHTED AVERAGE NUMBER OF COMMON SHARES | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 |
Product and Service, Other | ||||
REVENUES | ||||
Revenue | $ 0 | $ 0 | $ 0 | $ 0 |
STATEMENTS OF STOCKHOLDERS' EQU
STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) | Common Stock | Additional Paid-in Capital | Retained Earnings | Total |
Equity Balance at May. 12, 2019 | $ 0 | $ 0 | $ 0 | $ 0 |
Equity Balance, Shares at May. 12, 2019 | 0 | |||
Stock issued for cash, value | $ 500 | 1,500 | 0 | $ 2,000 |
Stock issued for cash, shares | 5,000,000 | 5,000,000 | ||
Net income (loss) for the period | $ 0 | 0 | (9,521) | $ (9,521) |
Equity Balance at May. 31, 2022 | $ 500 | 1,500 | (9,521) | (7,521) |
Equity Balance, Shares at May. 31, 2022 | 5,000,000 | |||
Net income (loss) for the period | $ 0 | 0 | 0 | 0 |
Equity Balance at Feb. 28, 2023 | $ 500 | 1,500 | (9,521) | (7,521) |
Equity Balance, Shares at Feb. 28, 2023 | 5,000,000 | |||
Equity Balance at Nov. 30, 2022 | $ 500 | 1,500 | (9,521) | (7,521) |
Equity Balance, Shares at Nov. 30, 2022 | 5,000,000 | |||
Net income (loss) for the period | $ 0 | 0 | 0 | 0 |
Equity Balance at Feb. 28, 2023 | $ 500 | $ 1,500 | $ (9,521) | $ (7,521) |
Equity Balance, Shares at Feb. 28, 2023 | 5,000,000 |
CONDENSED STATEMENTS OF CASH FL
CONDENSED STATEMENTS OF CASH FLOWS - USD ($) | 3 Months Ended | 9 Months Ended | 37 Months Ended | ||
Feb. 28, 2023 | Feb. 28, 2022 | Feb. 28, 2023 | Feb. 28, 2022 | May 31, 2022 | |
Cash Flows from Operating Activities | |||||
Net Income (Loss) | $ 0 | $ 0 | $ 0 | $ 0 | $ (9,521) |
Adjustments to reconcile Net Loss to net cash used in operations | |||||
Increase (decrease) in prepaid expenses | 0 | 0 | |||
Increase (decrease) in accounts payable and accrued expenses | 0 | 0 | |||
Net cash used in Operating Activities | 0 | 0 | |||
Net Cash Flows from Financing Activities | |||||
Proceeds from related parties | 0 | 0 | |||
Proceeds from issuance of common stock | 0 | 0 | |||
Net cash provided by Financing Activities | 0 | 0 | |||
Net increase in Cash for period | 0 | 0 | |||
Cash at beginning of period | 13 | 13 | |||
Cash at end of period | $ 13 | $ 13 | 13 | 13 | $ 13 |
Supplemental Cash Flow Information and Noncash Financing Activities | |||||
Cash paid for interest | 0 | 0 | |||
Cash paid for taxes | 0 | 0 | |||
Expenses paid by related parties | $ 0 | $ 0 |
NATURE OF OPERATIONS AND BASIS
NATURE OF OPERATIONS AND BASIS OF PRESENTATION | 9 Months Ended |
Feb. 28, 2023 | |
Notes | |
NATURE OF OPERATIONS AND BASIS OF PRESENTATION | NOTE 1 - NATURE OF OPERATIONS AND BASIS OF PRESENTATION Lucent, Inc. (the “Company”) is located in the State of Montana where it was incorporated on May 13, 2019 to engage in any lawful corporate undertaking including, but not limited to, selected mergers and acquisitions. The Company has been in the developmental stage since inception and has no operations to date. Other than issuing shares to its original shareholders, the Company has not commenced any operational activities. The Company’s fiscal year end is May 31. The balance sheet as of February 28, 2023 and May 31, 2022 has been derived from unaudited financial statements, and the unaudited interim financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles (“U.S. GAAP”) have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. It is suggested that these financial statements be read in conjunction with the financial statements and the notes thereto included in the Company’s most current filing on Form S-1/A filed with the SEC on April 10, 2020. In the opinion of management, all adjustments (which include normal and recurring adjustments) necessary to fairly present the Company’s financial position as of February 28, 2023, and results of its operations and cash flows for the three and nine-month periods ended February 28, 2023 and the period from inception on May 13, 2019 through February 28, 2023, have been made. |
Going Concern Disclosure
Going Concern Disclosure | 9 Months Ended |
Feb. 28, 2023 | |
Notes | |
Going Concern Disclosure | NOTE 2 - GOING CONCERN The accompanying financial statements have been prepared in conformity with U.S. GAAP, which contemplate continuation of the Company as a going concern. However, the Company has not commenced operations and has accumulated a deficit of $9,521 as of February 28, 2023. The Company currently has limited liquidity, and has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time. Management has evaluated these factors and as determined that they raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the financial statements are issued. Management expects to seek potential business opportunities for merger or acquisition of existing companies. The Company has yet to locate any merger or acquisition candidates. Management is not limiting their search for merger or acquisition candidates to any industry or locations. Management, while not especially experienced in matters relating to public company management, will rely upon their own efforts and, to a much lesser extent, the efforts of the Company’s shareholder, in accomplishing the business purposes of the Company. The financial statements of the Company do not include any adjustments that might result from the outcome of this uncertainty. The officers have agreed to advance funds to the Company to meet its obligations. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Feb. 28, 2023 | |
Notes | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The preparation of financial statements in conformity with generally accepted accounting principles requires us to establish accounting policies and make estimates and assumptions that affect our reported amounts of assets and liabilities at the date of the financial statements. These financial statements include some estimates and assumptions that are based on informed judgments and estimates of management. We evaluate our policies and estimates on an on-going basis and discuss the development, selection, and disclosure of critical accounting policies with the Board of Directors. Predicting future events is inherently an imprecise activity and as such requires the use of judgment. Our financial statements may differ based upon different estimates and assumptions. Basis of Presentation The financial statements present the balance sheets, statements of operations and cash flows, and changes in stockholders’ equity (deficit), of the Company. These financial statements are presented in United States dollars and have been prepared in accordance with U.S. GAAP. Use of Estimates and Assumptions Preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Cash and Cash Equivalents For the purposes of the statement of cash flows, the Company considers highly liquid financial instruments purchased with a maturity of three months or less to be cash equivalents. At February 28, 2023 and May 31, 2022, the Company had cash of $13 and $13, respectively. Net Loss per Share Basic loss per share includes no dilution and is computed by dividing loss available to common stockholders by the weighted average number of common shares outstanding for the period. Dilutive loss per share reflects the potential dilution of securities that could share in the losses of the Company. Because the Company does not have any potentially dilutive securities, the accompanying presentation is only of basic loss per share. Recent Accounting Pronouncements Other than as noted above the Company has not implemented any pronouncements that had material impact on the financial statements and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
CAPITAL STOCK DISCLOSURE
CAPITAL STOCK DISCLOSURE | 9 Months Ended |
Feb. 28, 2023 | |
Notes | |
CAPITAL STOCK DISCLOSURE | NOTE 4 - CAPITAL STOCK The Company is authorized to issue 200,000,000 shares of Common Stock with a par value of $0.0001 per share. No preferred shares have been authorized or issued. At both February 28, 2023 and May 31, 2022, 5,000,000 common shares are issued and outstanding. On May 16, 2019, the Company issued 5,000,000 shares of common stock at $0.0004 (par value $0.0001) for total cash of $2,000. At February 28, 2023, there are no warrants or options outstanding to acquire any additional shares of common stock of the Company. |
Related Party Transactions Disc
Related Party Transactions Disclosure | 9 Months Ended |
Feb. 28, 2023 | |
Notes | |
Related Party Transactions Disclosure | NOTE 5 - RELATED PARTY TRANSACTIONS At February 28, 2023 and May 31, 2022, the Company owed $7,570 and $7,570, respectively, to officers for advances, and expenses paid, on behalf of the Company. The amounts due to related party are to be repaid when cash is available to the Company. There is no interest attached to these advances. The Company does not own or rent property. The Company’s office space is provided by an officer at no cost to the Company. |
SUBSEQUENT EVENTS DISCLOSURE
SUBSEQUENT EVENTS DISCLOSURE | 9 Months Ended |
Feb. 28, 2023 | |
Notes | |
SUBSEQUENT EVENTS DISCLOSURE | NOTE 6 - SUBSEQUENT EVENTS Management has evaluated subsequent events through May 20, 2023, the date the financial statements were available to be issued. Management is not aware of any significant events that occurred subsequent to the balance sheet date that would have a material effect on the financial statements thereby requiring adjustment or disclosure. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Basis of Accounting, Policy (Policies) | 9 Months Ended |
Feb. 28, 2023 | |
Policies | |
Basis of Accounting, Policy | Basis of Presentation The financial statements present the balance sheets, statements of operations and cash flows, and changes in stockholders’ equity (deficit), of the Company. These financial statements are presented in United States dollars and have been prepared in accordance with U.S. GAAP. |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Use of Estimates, Policy (Policies) | 9 Months Ended |
Feb. 28, 2023 | |
Policies | |
Use of Estimates, Policy | Use of Estimates and Assumptions Preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. |
SUMMARY OF SIGNIFICANT ACCOUN_4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Cash and Cash Equivalents, Policy (Policies) | 9 Months Ended |
Feb. 28, 2023 | |
Policies | |
Cash and Cash Equivalents, Policy | Cash and Cash Equivalents For the purposes of the statement of cash flows, the Company considers highly liquid financial instruments purchased with a maturity of three months or less to be cash equivalents. At February 28, 2023 and May 31, 2022, the Company had cash of $13 and $13, respectively. |
SUMMARY OF SIGNIFICANT ACCOUN_5
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Earnings Per Share, Policy (Policies) | 9 Months Ended |
Feb. 28, 2023 | |
Policies | |
Earnings Per Share, Policy | Net Loss per Share Basic loss per share includes no dilution and is computed by dividing loss available to common stockholders by the weighted average number of common shares outstanding for the period. Dilutive loss per share reflects the potential dilution of securities that could share in the losses of the Company. Because the Company does not have any potentially dilutive securities, the accompanying presentation is only of basic loss per share. |
SUMMARY OF SIGNIFICANT ACCOUN_6
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: New Accounting Pronouncements, Policy (Policies) | 9 Months Ended |
Feb. 28, 2023 | |
Policies | |
New Accounting Pronouncements, Policy | Recent Accounting Pronouncements Other than as noted above the Company has not implemented any pronouncements that had material impact on the financial statements and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
Going Concern Disclosure (Detai
Going Concern Disclosure (Details) - USD ($) | Feb. 28, 2023 | May 31, 2022 |
Details | ||
Accumulated Deficit | $ 9,521 | $ 9,521 |
SUMMARY OF SIGNIFICANT ACCOUN_7
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Cash and Cash Equivalents, Policy (Details) - USD ($) | Feb. 28, 2023 | May 31, 2022 |
Details | ||
Cash | $ 13 | $ 13 |
CAPITAL STOCK DISCLOSURE (Detai
CAPITAL STOCK DISCLOSURE (Details) - USD ($) | 37 Months Ended | |
May 31, 2022 | Feb. 28, 2023 | |
Details | ||
Common Stock Authorized | 200,000,000 | 200,000,000 |
Common Par Value | $ 0.0001 | $ 0.0001 |
Common Stock Issued and Outstanding | 5,000,000 | 5,000,000 |
Stock issued for cash, shares | 5,000,000 | |
Stock issued for cash, per share | $ 0.0004 | |
Stock issued for cash, value | $ 2,000 |
Related Party Transactions Di_2
Related Party Transactions Disclosure (Details) - USD ($) | Feb. 28, 2023 | May 31, 2022 |
Details | ||
Due to Related Party | $ 7,570 | $ 7,570 |