Excellerant (EXCL) 10-K 10 Dec 21 2021 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Sep. 30, 2021	Nov. 30, 2021	Mar. 31, 2021
Cover [Abstract]
Entity Registrant Name	Excellerant, Inc.
Entity Central Index Key	0001786119
Document Type	10-K
Amendment Flag	false
Entity Voluntary Filers	No
Current Fiscal Year End Date	--09-30
Entity Well Known Seasoned Issuer	No
Entity Small Business	true
Entity Shell Company	true
Entity Emerging Growth Company	true
Entity Current Reporting Status	Yes
Document Period End Date	Sep. 30, 2021
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2021
Entity Ex Transition Period	true
Entity Common Stock Shares Outstanding		5,648,000
Entity Public Float			$ 3,977,750
Document Annual Report	true
Document Transition Report	false
Entity File Number	333-234796
Entity Incorporation State Country Code	NV
Entity Tax Identification Number	98-1497791
Entity Address Address Line 1	54 Bl du Regent
Entity Address City Or Town	Brussels
Entity Address Country	BE
Entity Address Postal Zip Code	1000
City Area Code	32
Local Phone Number	27810118
Entity Interactive Data Current	Yes

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Sep. 30, 2021	Sep. 30, 2020
Current Assets
Escrow account	$ 0	$ 20,745
Total Current Assets	0	20,745
TOTAL ASSETS	0	20,745
Current Liabilities
Accounts payable and accrued liabilities	5,952	0
Accounts payable - related party	0	16,000
Director Loan	13,935	10,832
Total Current Liabilities	19,887	26,832
Total Liabilities	19,887	26,832
Stockholders' Deficit
Common stock, par value $0.0001; 75,000,000 shares authorized, 5,648,000 shares issued and outstanding	564	564
Additional paid-in capital	26,216	26,216
Accumulated deficit	(46,667)	(32,867)
Total Stockholders' Deficit	(19,887)	(6,087)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 0	$ 20,745

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2021	Sep. 30, 2020
Stockholders' Deficit
Common Stock, Shares Authorized	75,000,000	75,000,000
Common Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Common Stock, Shares Issued	5,648,000	5,648,000
Common Stock, Shares Outstanding	5,648,000	5,648,000

STATEMENT OF OPERATIONS

STATEMENT OF OPERATIONS - USD ($)	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
OPERATING EXPENSES
General and administrative expenses	$ 0	$ 1,121
Professional fees	40,632	8,723
Consulting fees - related party	3,000	12,000
Total Operating Expenses	43,632	21,844
OTHER INCOME (EXPENSES)
Gain on extinguishment of debt	29,832	0
Total Other Income	29,832	0
Loss from operations	(13,800)	(21,844)
Provision for income taxes	0	0
NET LOSS	$ (13,800)	$ (21,844)
NET LOSS PER SHARE: BASIC AND DILUTED	$ 0	$ (0.01)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	5,648,000	4,147,037

STATEMENTS OF STOCKHOLDERS DEFI

STATEMENTS OF STOCKHOLDERS DEFICIT - USD ($)	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit
Balance, shares at Sep. 30, 2019		3,000,000
Balance, amount at Sep. 30, 2019	$ (10,723)	$ 300	$ 0	$ (11,023)
Shares issued for cash, shares		2,648,000
Shares issued for cash, amount	26,480	$ 264	26,216	0
Net loss	(21,844)	$ 0	0	(21,844)
Balance, shares at Sep. 30, 2020		5,648,000
Balance, amount at Sep. 30, 2020	(6,087)	$ 564	26,216	(32,867)
Net loss	(13,800)	$ 0	0	(13,800)
Balance, shares at Sep. 30, 2021		5,648,000
Balance, amount at Sep. 30, 2021	$ (19,887)	$ 564	$ 26,216	$ (46,667)

STATEMENT OF CASH FLOWS

STATEMENT OF CASH FLOWS - USD ($)	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (13,800)	$ (21,844)
Adjustments to reconcile net loss to net cash from operating activities:
Gain on extinguishment of debt	29,832	0
Changes in operating assets and liabilities:
Accounts payable and accrued liabilities	5,952	0
Accounts payable - related party	3,000	12,000
Accrued expense	0	(4,500)
Net cash used in operating activities	(34,680)	(14,344)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of common stock	0	26,480
Proceeds from director loan	13,935	8,609
Net cash provided by financing activities	13,935	35,089
Net change in cash and cash equivalents	(20,745)	20,745
Cash and cash equivalents - beginning of period	20,745	0
Cash and cash equivalents - end of period	0	20,745
Cash consists of:
Funds held in escrow	0	20,745
Supplemental Cash Flow Disclosures
Cash paid for interest	0	0
Cash paid for income taxes	0	0
Non-Cash Investing and Financing Activity:
Forgiveness of loans	$ 29,832	$ 0

ORGANIZATION AND BUSINESS OPERA

ORGANIZATION AND BUSINESS OPERATIONS	12 Months Ended
	Sep. 30, 2021
ORGANIZATION AND BUSINESS OPERATIONS
NOTE 1 - ORGANIZATION AND BUSINESS OPERATIONS	NOTE 1 – ORGANIZATION AND BUSINESS OPERATIONS EXCELLERANT, INC. (“the Company “we,” “us” or “our”) was incorporated in the State of Nevada on May 30, 2019. Our company is planning to offer a broad range of health advisory and tour services: consulting services in the field of traditional and alternative medicine and medical technologies in China; helping our customers to choose a clinic for treatment; consulting customers and helping them to arrange the itinerary, by building a route, which includes clinics, hospitals and other medical institution; providing guide services to our potential clients. We also provide them with information concerning transportation, the cost of it, how it operates and what are the best medical institutions. We are going to provide our services both to legal entities and individuals. The company’s address is 54 Blvd du Regent, Brussels 1000, Belgium.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Sep. 30, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation These financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. The Company uses the accrual basis of accounting and has adopted a September 30 fiscal year end. Development Stage Company The Company is a development stage company as defined in ASC 915 “Development Stage Entities.” The Company is devoting substantially all of its efforts on establishing the business and its planned principal operations have not commenced. All losses accumulated since inception has been considered as part of the Company’s development stage activities. The Company has elected to adopt application of Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. Upon adoption, the Company no longer presents or discloses inception-to-date information and other remaining disclosure requirements of Topic 915. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States 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. Cash and Cash Equivalents The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. During the year ended September 30, 2020, the Company entered a Trust Agreement with the director and set up Related Party Trust Account for holding funds in relation to issuing shares for stock consideration of $20,745. During the year ended September 30, 2021, all the funds held in escrow has been utilized and the Company did not have any fund held in the escrow account as of September 30, 2021. Fair Value of Financial Instruments ASC 820 “ Fair Value Measurements and Disclosures These tiers include: Level 1: defined as observable inputs such as quoted prices in active markets; Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The carrying value of accounts payable and accrued liabilities, accrued interest, current portion of long-term debt, other party loan and loan from director approximates its fair value due to their short-term maturity. Revenue Recognition The Company recognizes revenue from its contracts with customers in accordance with ASC 606 – Revenue from Contracts with Customers. Revenue related to contracts with customers is evaluated utilizing the following steps: (i) Identify the contract, or contracts, with a customer (ii) Identify the performance obligations in the contract (iii) Determine the transaction price (iv) Allocate the transaction price to the performance obligations in the contract (v) Recognize revenue when the Company satisfies a performance obligation. The Company has not recognized any revenue since its inception. Related Party Balances and Transactions The Company follows FASB ASC 850, “ Related Party Disclosures Basic and Diluted Income (Loss) Per Share The Company computes income (loss) per share in accordance with FASB ASC 260, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. As of September 30, 2021 and 2020, the Company has no dilutive instruments. Income Taxes The Company accounts for income taxes pursuant to FASB ASC 740 “ Income Taxes ASC 740 also provides criteria for the recognition, measurement, presentation and disclosure of uncertain tax positions. Under ASC 740, the impact of an uncertain tax position on the income tax return may only be recognized at the largest amount that is more-likely-than-not to be sustained upon audit by the relevant taxing authority. At September 30, 2021, there were no unrecognized tax benefits. (See Note 6) Recent accounting pronouncements In December 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (ASU 2019-12), which simplifies the accounting for income taxes. This guidance will be effective for entities for the fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020 on a prospective basis, with early adoption permitted. We do not expect the adoption of this guidance to have a material impact on the Company’s financial statements. Management has considered all recent accounting pronouncements issued. The Company’s management believes that these recent pronouncements will not have a material effect on the Company’s financial statements.

GOING CONCERN

GOING CONCERN	12 Months Ended
	Sep. 30, 2021
GOING CONCERN
NOTE 3 - GOING CONCERN	NOTE 3 – GOING CONCERN The Company’s financial statements have been prepared assuming that it will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business. As reflected in the financial statements, the Company had an accumulated deficit of $46,667, and working capital deficit of $19,887 at September 30, 2021. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company is attempting to commence operations and generate sufficient revenue; however, the Company’s cash position may not be sufficient to support the Company’s daily operations. Management intends to raise additional funds by way of a private or public offering. While the Company believes in the viability of its strategy to commence operations and generate sufficient revenue and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon the Company’s ability to further implement its business plan and generate sufficient revenue and its ability to raise additional funds by way of a public or private offering. The financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Sep. 30, 2021
RELATED PARTY TRANSACTIONS
NOTE 4 - RELATED PARTY TRANSACTIONS	NOTE 4 – RELATED PARTY TRANSACTIONS The Company has received capital from the director of the Company to pay for the Company expenses. The advance is unsecured, non-interest bearing and due on demand. Former Director During the year ended September 30, 2021 and 2020, the Company incurred director consulting fees of $3,000 and $12,000 to the former director of the Company, respectively. Upon the resignation of the Company’s former director on March 31, 2021, the loan from the director of $10,832 and accrued consulting fees of $19,000 at the aggregate amount of $29,832 was forgiven. Current Director During the year ended September 30, 2021, the director of the Company made advancement of $13,935 for operating expenses of the Company. The advance is unsecured, non-interest bearing and due on demand.

STOCKHOLDERS EQUITY

STOCKHOLDERS EQUITY	12 Months Ended
	Sep. 30, 2021
STOCKHOLDERS EQUITY
NOTE 5 - STOCKHOLDERS' EQUITY	NOTE 5 – STOCKHOLDERS’ EQUITY The Company has 75,000,000, $0.001 par value shares of common stock authorized. In March 2020, the Company issued 420,000 common shares to five shareholders as per subscription agreement at $0.01 per share for a total price of $4,200. In April and May 2020, the Company issued 2,228,000 of common shares as per subscription agreements at $0.01 per share for a total price of $22,280. As of September 30, 2021 and September 30, 2020, the Company had 5,648,000 shares issued and outstanding.

PROVISION FOR INCOME TAXES

PROVISION FOR INCOME TAXES	12 Months Ended
	Sep. 30, 2021
BALANCE SHEETS
NOTE 6- PROVISION FOR INCOME TAXES	NOTE 6– PROVISION FOR INCOME TAXES The Company provides for income taxes under ASC 740, ” Income Taxes.” The components of the Company’s deferred tax asset and reconciliation of income taxes computed at the statutory rate to the income tax amount recorded as of September 30, 2021 and September 30, 2020 are as follows: September 30, September 30, 2021 2020 Net operating loss carryforward $ 46,667 $ 32,867 Statutory tax rate 21 % 21 % Deferred tax asset 9,800 6,902 Less: Valuation allowance (9,800 ) (6,902 ) Net deferred asset $ - $ - As of September 30, 2021, the Company had $46,667 in net operating losses (“NOLs”) that may be available to offset future taxable income, which begin to expire between 2039 and 2041. NOLs generated can be carryforward indefinitely. In accordance with Section 382 of the U.S. Internal Revenue Code, the usage of the Company’s net operating loss carry forwards is subject to annual limitations following greater than 50% ownership changes. Tax returns for the years ended 2019 through 2021 are subject to review by the tax authorities.

RISK AND UNCERTAINTIES

RISK AND UNCERTAINTIES	12 Months Ended
	Sep. 30, 2021
RISK AND UNCERTAINTIES
NOTE 7 - RISK AND UNCERTAINTIES	NOTE 7 – RISK AND UNCERTAINTIES In early 2020, the World Health Organization declared the rapidly spreading coronavirus disease (COVID-19) outbreak a pandemic. This pandemic has resulted in governments worldwide enacting emergency measures to combat the spread of the virus. The Company considered the impact of COVID-19 on the assumptions and estimates used and determined that there were no retroactive material adverse impacts on the Company’s results of operations and financial position at September 30, 2021. 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 in the future. The Company is not 10 may

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Sep. 30, 2021
SUBSEQUENT EVENTS
NOTE 8 - SUBSEQUENT EVENTS	NOTE 8 – SUBSEQUENT EVENTS In accordance with ASC 855-10, the Company has analyzed its operations subsequent to September 30, 2021 to the date these financial statements were issued and has determined that it does not have any material subsequent events to disclose in these financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Sep. 30, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation	These financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. The Company uses the accrual basis of accounting and has adopted a September 30 fiscal year end.
Development Stage Company	The Company is a development stage company as defined in ASC 915 “Development Stage Entities.” The Company is devoting substantially all of its efforts on establishing the business and its planned principal operations have not commenced. All losses accumulated since inception has been considered as part of the Company’s development stage activities. The Company has elected to adopt application of Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. Upon adoption, the Company no longer presents or discloses inception-to-date information and other remaining disclosure requirements of Topic 915.
Use of Estimates	The preparation of financial statements in conformity with accounting principles generally accepted in the United States 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.
Cash and Cash Equivalents	The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. During the year ended September 30, 2020, the Company entered a Trust Agreement with the director and set up Related Party Trust Account for holding funds in relation to issuing shares for stock consideration of $20,745. During the year ended September 30, 2021, all the funds held in escrow has been utilized and the Company did not have any fund held in the escrow account as of September 30, 2021.
Fair Value of Financial Instruments	ASC 820 “ Fair Value Measurements and Disclosures These tiers include: Level 1: defined as observable inputs such as quoted prices in active markets; Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The carrying value of accounts payable and accrued liabilities, accrued interest, current portion of long-term debt, other party loan and loan from director approximates its fair value due to their short-term maturity.
Revenue Recognition	The Company recognizes revenue from its contracts with customers in accordance with ASC 606 – Revenue from Contracts with Customers. Revenue related to contracts with customers is evaluated utilizing the following steps: (i) Identify the contract, or contracts, with a customer (ii) Identify the performance obligations in the contract (iii) Determine the transaction price (iv) Allocate the transaction price to the performance obligations in the contract (v) Recognize revenue when the Company satisfies a performance obligation. The Company has not recognized any revenue since its inception.
Related Party Balances and Transactions	The Company follows FASB ASC 850, “ Related Party Disclosures
Basic and Diluted Income (Loss) Per Share	The Company computes income (loss) per share in accordance with FASB ASC 260, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. As of September 30, 2021 and 2020, the Company has no dilutive instruments.
Income Taxes	The Company accounts for income taxes pursuant to FASB ASC 740 “ Income Taxes ASC 740 also provides criteria for the recognition, measurement, presentation and disclosure of uncertain tax positions. Under ASC 740, the impact of an uncertain tax position on the income tax return may only be recognized at the largest amount that is more-likely-than-not to be sustained upon audit by the relevant taxing authority. At September 30, 2021, there were no unrecognized tax benefits. (See Note 6)
Recent accounting pronouncements	In December 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (ASU 2019-12), which simplifies the accounting for income taxes. This guidance will be effective for entities for the fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020 on a prospective basis, with early adoption permitted. We do not expect the adoption of this guidance to have a material impact on the Company’s financial statements. Management has considered all recent accounting pronouncements issued. The Company’s management believes that these recent pronouncements will not have a material effect on the Company’s financial statements.

PROVISION FOR INCOME TAXES (Tab

PROVISION FOR INCOME TAXES (Tables)	12 Months Ended
	Sep. 30, 2021
BALANCE SHEETS
Schedule of deferred tax asset and reconciliation of income taxes	September 30, September 30, 2021 2020 Net operating loss carryforward $ 46,667 $ 32,867 Statutory tax rate 21 % 21 % Deferred tax asset 9,800 6,902 Less: Valuation allowance (9,800 ) (6,902 ) Net deferred asset $ - $ -

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	Sep. 30, 2020USD ($)
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Cash balance	$ 20,745

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	Sep. 30, 2021	Sep. 30, 2020
GOING CONCERN
Accumulated deficit	$ (46,667)	$ (32,867)
Working capital deficit	$ (19,887)

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Mar. 31, 2021
Proceeds from director loan	$ 13,935	$ 8,609
Directors [Member]
Proceeds from director loan	13,935
Consulting fees	3,000	$ 12,000
Accrued consulting fees			$ 19,000
Forgiveness of loans	$ 29,832
Loan from related party			$ 10,832

STOCKHOLDERS EQUITY (Details Na

STOCKHOLDERS EQUITY (Details Narrative) - USD ($)	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Common shares authorized	75,000,000	75,000,000
Par value of common shares	$ 0.001	$ 0.001
Common shares issued	5,648,000	5,648,000
Common shares outstanding	5,648,000	5,648,000
Subscription Agreement [Member] | March 2020 [Member]
Shares issued for cash, shares	420,000
Shares issued for cash, value	$ 4,200
Price per share	$ 0.01
Subscription Agreement [Member] | April and May 2020 [Member]
Shares issued for cash, shares	2,228,000
Shares issued for cash, value	$ 22,280
Price per share	$ 0.01

PROVISION FOR INCOME TAXES (Det

PROVISION FOR INCOME TAXES (Details) - USD ($)	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
BALANCE SHEETS
Net operating loss carryforward	$ 46,667	$ 32,867
Statutory tax rate	21.00%	21.00%
Deferred tax asset	$ 9,800	$ 6,902
Less: Valuation allowance	(9,800)	(6,902)
Net deferred asset	$ 0	$ 0

PROVISION FOR INCOME TAXES (D_2

PROVISION FOR INCOME TAXES (Details Narrative) - USD ($)	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
BALANCE SHEETS
Net operating losses	$ 46,667	$ 32,867
Description of expiration	future taxable income, which begin to expire between 2039 and 2041
Ownership percentage	50.00%