Cover
Cover - shares | 3 Months Ended | |
Dec. 31, 2020 | Aug. 04, 2021 | |
Cover [Abstract] | ||
Entity Registrant Name | Allure Worldwide, Inc. | |
Entity Central Index Key | 0001792941 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Current Fiscal Year End Date | --09-30 | |
Entity Small Business | true | |
Entity Shell Company | true | |
Entity Emerging Growth Company | true | |
Entity Current Reporting Status | No | |
Document Period End Date | Dec. 31, 2020 | |
Entity Filer Category | Non-accelerated Filer | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2021 | |
Entity Ex Transition Period | true | |
Entity Common Stock Shares Outstanding | 20,000,000 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity Interactive Data Current | Yes |
BALANCE SHEETS
BALANCE SHEETS - USD ($) | Dec. 31, 2020 | Sep. 30, 2020 |
ASSETS | ||
Total assets | $ 0 | $ 0 |
Current liabilities | ||
Accounts payable | 7,500 | 7,500 |
Accrued expenses | 0 | 6,000 |
Due to related party (Note 5) | 3,846 | 3,846 |
Total current liabilities | 11,346 | 17,346 |
Commitments & contingencies (Note 6) | 0 | 0 |
Stockholders' deficit | ||
Preferred stock: $0.001 par value; 20,000,000 shares authorized; no shares issued and outstanding | 0 | 0 |
Common stock: $0.001 par value; 300,000,000 shares authorized; 20,000,000 shares issued and outstanding | 20,000 | 20,000 |
Additional paid-in capital | 9,370 | 3,370 |
Accumulated deficit | (40,716) | (40,716) |
Total stockholders' deficit | (11,346) | (17,346) |
Total liabilities and stockholders' deficit | $ 0 | $ 0 |
BALANCE SHEETS (Parenthetical)
BALANCE SHEETS (Parenthetical) - $ / shares | Dec. 31, 2020 | Sep. 30, 2020 |
BALANCE SHEETS | ||
Preferred Stock, shares par value | $ 0.001 | $ 0.001 |
Preferred Stock, Shares Authorized | 20,000,000 | 20,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Common Stock, shares par value | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 300,000,000 | 300,000,000 |
Common Stock, Shares, Issued | 20,000,000 | 20,000,000 |
Common Stock, Shares, Outstanding | 20,000,000 | 20,000,000 |
STATEMENTS OF OPERATIONS
STATEMENTS OF OPERATIONS - USD ($) | 3 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
STATEMENTS OF OPERATIONS | ||
Revenues | $ 0 | $ 0 |
Operating expenses | ||
General and administrative expenses | 0 | 0 |
Total operating expenses | 0 | 0 |
Net loss | $ 0 | $ 0 |
Basic and diluted net loss per common share | $ 0 | $ 0 |
Basic and diluted weighted average common shares outstanding | 20,000,000 | 20,000,000 |
STATEMENTS OF CHANGES IN STOCKH
STATEMENTS OF CHANGES IN STOCKHOLDERS DEFICIT - USD ($) | Total | Common Stock | Additional Paid-in Capital | Accumulated Deficit |
Balance, shares at Sep. 30, 2019 | 20,000,000 | |||
Balance, amount at Sep. 30, 2019 | $ (15,846) | $ 20,000 | $ 0 | $ (35,846) |
Net loss | 0 | $ 0 | 0 | 0 |
Balance, shares at Dec. 31, 2019 | 20,000,000 | |||
Balance, amount at Dec. 31, 2019 | (15,846) | $ 20,000 | 0 | (35,846) |
Balance, shares at Sep. 30, 2020 | 20,000,000 | |||
Balance, amount at Sep. 30, 2020 | (17,346) | $ 20,000 | 3,370 | (40,716) |
Net loss | 0 | 0 | 0 | 0 |
Accrued expenses paid by shareholder | 6,000 | $ 0 | 6,000 | 0 |
Balance, shares at Dec. 31, 2020 | 20,000,000 | |||
Balance, amount at Dec. 31, 2020 | $ (11,346) | $ 20,000 | $ 9,370 | $ (40,716) |
STATEMENTS OF CASH FLOWS
STATEMENTS OF CASH FLOWS - USD ($) | 3 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flows used in operating activities | ||
Net loss | $ 0 | $ 0 |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Net cash used in operating activities | 0 | 0 |
Cash flows from investing activities | 0 | 0 |
Cash flows from financing activities | 0 | 0 |
Net change in cash | 0 | 0 |
Cash, beginning of the period | 0 | 0 |
Cash, end of the period | 0 | 0 |
Supplemental cash flow information | ||
Cash paid for interest | 0 | 0 |
Cash paid for income taxes | 0 | 0 |
Noncash financing activities | ||
Capital contribution from shareholder to pay accrued expenses (Note 5) | $ 6,000 | $ 0 |
Organization and Basis of Prese
Organization and Basis of Presentation | 3 Months Ended |
Dec. 31, 2020 | |
Organization and Basis of Presentation | |
Note 1. Organization and Basis of Presentation | Nature of Business Allure Worldwide, Inc. (the Company) was incorporated under the laws of the State of Florida on September 26, 2018 with the principal business objective of merging with or being acquired by another entity and is therefore a blank check company. Effective as of November 18, 2019, the Company redomiciled to Nevada. Going Concern The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”), which is dependent upon the Company's ability to obtain sufficient financing or establish itself as a profitable business. At December 31, 2020, the Company had an accumulated deficit of $40,716 and no revenues to date. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. Management’s plans with respect to operations include raising additional capital through sales of equity or debt securities as may be necessary to pursue such business plans and sustain operations until such time as the Company can merge with or be acquired by another entity. However, there can be no assurance that management will be successful in obtaining additional funding or in attaining profitable operations. The financial statements do not include adjustments relating to the recoverability and realization of assets and classification of liabilities that might be necessary should the Company be unable to continue in operation. Basis of Presentation The accompanying unaudited financial information as of and for the three months ended December 31, 2020 and 2019 has been prepared in accordance with GAAP for interim financial information and with the instructions to Quarterly Report on Form 10-Q and Article 10 of Regulation S-X. In the opinion of management, such financial information includes all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation of our financial position at such date and the operating results and cash flows for such periods. Operating results for the three months ended December 31, 2020 are not necessarily indicative of the results that may be expected for the entire year or for any other subsequent interim period. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been omitted pursuant to the rules of the U.S. Securities and Exchange Commission, or the SEC. These unaudited financial statements and related notes should be read in conjunction with our audited financial statements for the year ended September 30, 2020 included in the Company’s Annual Report on Form 10-K filed with the SEC on August 2, 2021. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
Dec. 31, 2020 | |
Summary of Significant Accounting Policies | |
Note 2. Summary of Significant Accounting Policies | 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 expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents The Company considers all highly liquid debt instruments and other short-term investments with maturity of three months or less, when purchased, to be cash equivalents. There were no cash or cash equivalents as of December 31, 2020 and September 30, 2020. Fair Value of Financial Instruments The carrying amount reported in the accompanying balance sheets for accrued expenses and amounts due to a related party approximate fair value because of the immediate or short-term maturity of these financial instruments. The Company does not utilize derivative instruments. 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. Income Taxes The Company accounts for income taxes utilizing the liability method of accounting. Under the liability method, deferred taxes are determined based on differences between financial statement and tax bases of assets and liabilities at enacted tax rates in effect in years in which differences are expected to reverse. Valuation allowances are established, when necessary, to reduce deferred tax assets to amounts that are expected to be realized. The Company follows ASC 740-10, Accounting for Uncertainty in Income Taxes Earnings (loss) Per Share of Common Stock FASB ASC 260, Earnings Per Share Recently Issued Accounting Standards There were recently issued accounting standard updates most of which represented technical corrections to the accounting literature or application to specific industries and are not expected to have a material impact on our statements of financial position, results of operations or cash flows. |
Stockholders Deficit
Stockholders Deficit | 3 Months Ended |
Dec. 31, 2020 | |
Stockholders Deficit | |
Note 3. Stockholders' Deficit | Common stock The authorized common stock of the Company consists of 300,000,000 shares with a $0.001 par value. There were 20,000,000 common shares issued and outstanding as of December 31, 2020 and September 30, 2020. On September 26, 2018 the Company’s two officers and directors (the CEO and the Secretary) were issued 5,000,000 common shares each for services. The value of the total shares issued was $10,000. On September 26, 2018, Lawson Pedigo, and John Gladdis were issued 4,600,000 and 4,600,000 shares respectively and Benny Doro was issued 800,000 shares for services valued at a total of $10,000. During the three months ended December 31, 2020, the Company’s CEO paid $6,000 in operating expenses directly to the vendor on behalf of the Company. Since these amounts are not to be repaid to him, they are accounted for as additional paid-in capital in the accompanying financial statements (Note 5). Preferred stock The authorized preferred stock of the Company consists of 20,000,000 shares with a $0.001 par value and none were issued or outstanding at December 31, 2020 and September 30, 2020. |
Income Taxes
Income Taxes | 3 Months Ended |
Dec. 31, 2020 | |
Income Taxes | |
Note 4. Income Taxes | We did not provide any current or deferred U.S. federal income tax provision or benefit for any of the periods presented because we have experienced operating losses since inception. Under ASC 740, Income Taxes During the three months ended December 31, 2020 and 2019, the Company incurred net losses of $0 and $0, respectively, which resulted in no additional net operating loss carryforwards for income tax purposes. The accumulated losses resulted in a deferred tax asset of approximately $5,300 and $5,300 at December 31, 2020 and September 30, 2020, respectively, at the effective rate of 25%. |
Related Party Transactions
Related Party Transactions | 3 Months Ended |
Dec. 31, 2020 | |
Related Party Transactions | |
Note 5. Related Party Transactions | During the period ended September 30, 2018, Robert Bubeck, CEO paid $3,846 of expenses on behalf of the Company. The amount due to related party at both December 31, 2020 and September 30, 2020 is $3,846 and is due on demand and non-interest bearing. During the three months ended December 31, 2020, Robert Bubeck, CEO paid $6,000 of expenses on behalf of the Company. Since these amounts to the shareholder are not expected to be repaid, they have been accounted for as additional paid-in capital in the accompanying financial statements. The Company does not own or rent property. The office space is provided by an officer at no charge. |
Commitments Contingencies
Commitments Contingencies | 3 Months Ended |
Dec. 31, 2020 | |
Commitments Contingencies | |
Note 6. Commitments & Contingencies | From time to time, the Company may be involved in litigation in the ordinary course of business. The Company is not currently involved in any litigation that we believe could have a material adverse effect on its financial condition or results of operations. Subscription Agreement and Cash Held in Escrow On February 20, 2019, the Company entered into a subscription escrow agreement (the “Trust Agreement”) with Branch Banking and Trust Company (BB&T). This Trust Agreement was established for the subscription agreement proceeds raised pursuant to a Rule 419 S-1 offering. The balance held in trust at December 31, 2020 and September 30, 2020 totaled $11,202 and $10,201, respectively. All offering proceeds and all securities issued in connection with the offering are held in escrow and, except for the 10% of proceeds that may be released to the Company, will remain in escrow until the completion of an acquisition (see Note 7) or the return of all funds after a lapse of 18 months when no acquisition has been consummated. |
Subsequent Events
Subsequent Events | 3 Months Ended |
Dec. 31, 2020 | |
Subsequent Events | |
Note 7. Subsequent Events | The Company has evaluated subsequent events from the balance sheet through the date of this filing, and determined there were no events to disclose except the following: On January 11, 2021, the Company entered into an Exchange Agreement (the “Purchase Agreement”) with Genvor Inc., a Delaware corporation (“Genvor”) to acquire (the “Acquisition”) Genvor in consideration of (i) the payment of $150,000 by Genvor to Allure; (ii) Allure’s founding shareholders transferring 19,000,000 shares of common stock to Genvor’s shareholders, constituting 95% of Allure’s 20,000,000 total outstanding shares; and (iii) Allure’s founding shareholders retaining 1,000,000 shares of Allure’s common stock. Pursuant to the Purchase Agreement, after closing of the Acquisition and for a period of two years following commencement of trading of Allure’s common stock, the parties agreed that Allure will make additional issuances of Allure’s common stock to the founding shareholders to ensure that in the aggregate they maintain their 5% ownership of Allure’s outstanding common stock. The completion of the Purchase Agreement is pending Genvor’s Form S-1/A being declared effective by the Securities Exchange Commission. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Dec. 31, 2020 | |
Summary of Significant Accounting Policies | |
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 expenses during the reporting period. Actual results could differ from those estimates. |
Cash and Cash Equivalents | The Company considers all highly liquid debt instruments and other short-term investments with maturity of three months or less, when purchased, to be cash equivalents. There were no cash or cash equivalents as of December 31, 2020 and September 30, 2020. |
Fair Value of Financial Instruments | The carrying amount reported in the accompanying balance sheets for accrued expenses and amounts due to a related party approximate fair value because of the immediate or short-term maturity of these financial instruments. The Company does not utilize derivative instruments. 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. |
Income Taxes | The Company accounts for income taxes utilizing the liability method of accounting. Under the liability method, deferred taxes are determined based on differences between financial statement and tax bases of assets and liabilities at enacted tax rates in effect in years in which differences are expected to reverse. Valuation allowances are established, when necessary, to reduce deferred tax assets to amounts that are expected to be realized. The Company follows ASC 740-10, Accounting for Uncertainty in Income Taxes |
Earnings (loss) Per Share of Common Stock | FASB ASC 260, Earnings Per Share |
Recently Issued Accounting Standards | There were recently issued accounting standard updates most of which represented technical corrections to the accounting literature or application to specific industries and are not expected to have a material impact on our statements of financial position, results of operations or cash flows. |
Organization and Basis of Pre_2
Organization and Basis of Presentation (Details Narrative) - USD ($) | Dec. 31, 2020 | Sep. 30, 2020 |
Organization and Basis of Presentation | ||
Accumulated deficit | $ (40,716) | $ (40,716) |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details Narrative) - USD ($) | Dec. 31, 2020 | Sep. 30, 2020 |
Summary of Significant Accounting Policies | ||
Cash and cash equivalents | $ 0 | $ 0 |
Stockholders Deficit (Details N
Stockholders Deficit (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||
Sep. 26, 2018 | Dec. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2018 | Sep. 30, 2020 | |
Common stock, shares authorized | 300,000,000 | 300,000,000 | |||
Common stock, shares par value | $ 0.001 | $ 0.001 | |||
Common stock, shares issued | 20,000,000 | 20,000,000 | |||
Common stock, shares outstanding | 20,000,000 | 20,000,000 | |||
Preferred stock, shares authorized | 20,000,000 | 20,000,000 | |||
Preferred stock, shares par value | $ 0.001 | $ 0.001 | |||
Preferred Stock, Shares Issued | 0 | 0 | |||
Capital contribution from shareholder to pay accrued expenses (Note 5) | $ 6,000 | $ 0 | $ 3,846 | ||
Preferred Stock, Shares Outstanding | 0 | 0 | |||
Lawson Pedigo [Member] | |||||
Common stock shares issued for services, shares | 4,600,000 | ||||
John Gladdis [Member] | |||||
Common stock shares issued for services, shares | 4,600,000 | ||||
Benny Doro [Member] | |||||
Common stock shares issued for services, shares | 800,000 | ||||
Common stock shares issued for services, value | $ 10,000 | ||||
Two Officers and Directors [Member] | |||||
Common stock shares issued for services, shares | 5,000,000 | ||||
Common stock shares issued for services, value | $ 10,000 |
Income Taxes (Details Narrative
Income Taxes (Details Narrative) - USD ($) | 3 Months Ended | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2020 | |
Income Taxes (Details Narrative) | |||
Net loss | $ 0 | $ 0 | |
Deferred tax effective rate | 25.00% | 25.00% | |
Deferred tax asset | $ 5,300 | $ 5,300 |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2018 | Sep. 30, 2020 | |
Capital contribution from shareholder to pay accrued expenses | $ 6,000 | $ 0 | $ 3,846 | |
Due to related party | 3,846 | $ 3,846 | ||
Robert Bubeck [Member] | CEO [Member] | ||||
Capital contribution from shareholder to pay accrued expenses | 6,000 | |||
Due to related party | $ 3,846 | $ 3,846 |
Commitments Contingencies (Deta
Commitments Contingencies (Details Narrative) - USD ($) | 3 Months Ended | |
Dec. 31, 2020 | Sep. 30, 2020 | |
Commitments Contingencies (Details Narrative) | ||
Assets held in trust | $ 11,202 | $ 10,201 |
Maturity period in months | 18 months |
Subsequent Events (Details Narr
Subsequent Events (Details Narrative) - USD ($) | Jan. 11, 2021 | Dec. 31, 2020 | Sep. 30, 2020 |
Common stock, shares outstanding | 20,000,000 | 20,000,000 | |
Genvor Inc. [Member] | Subsequent Event [Member] | |||
Cash payment for acquisation | $ 150,000 | ||
Common stock, shares retained | 1,000,000 | ||
Common stock, shares outstanding | 20,000,000 | ||
Percentage of shares outstanding | 95.00% | ||
Common stock, shares transferred | 19,000,000 | ||
Ownership of shareholders, percentage | 5.00% |