Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2020 | Nov. 16, 2020 | |
Details | ||
Registrant CIK | 0001803827 | |
Fiscal Year End | --12-31 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2020 | |
Document Transition Report | false | |
Entity File Number | 000-26653 | |
Entity Registrant Name | Pipergy Inc. | |
Entity Incorporation, State or Country Code | WY | |
Entity Tax Identification Number | 84-4162136 | |
Entity Address, Address Line One | 2096 Skull Creek Road | |
Entity Address, City or Town | Four Corners | |
Entity Address, State or Province | WY | |
Entity Address, Postal Zip Code | 82715 | |
Entity Address, Address Description | Address of Principal Executive Offices | |
Phone Fax Number Description | Pipergy's Telephone Number, Including Area Code | |
City Area Code | 307 | |
Local Phone Number | 746-8673 | |
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 | |
Entity Ex Transition Period | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 32,452,000 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q3 |
CONDENSED BALANCE SHEET (Unaudi
CONDENSED BALANCE SHEET (Unaudited) | Sep. 30, 2020USD ($) |
CURRENT ASSETS: | |
Cash | $ 55 |
Prepaid Expenses | 3,000 |
Total Current Assets | 3,055 |
CURRENT LIABILITIES: | |
Accounts Payable | 10,191 |
Advances - Related Parties | 11,602 |
Note Payable - Related Party | 25,000 |
Accrued Interest | 635 |
Total Current Liabilities | 47,428 |
STOCKHOLDERS' DEFICIT: | |
Preferred Stock, Value | 0 |
Common Stock, Value | 32,452 |
Accumulated Deficit | (76,825) |
Total Stockholders' Deficit | (44,373) |
Total Liabilities and Stockholders' Deficit | $ 3,055 |
CONDENSED BALANCE SHEET (Unau_2
CONDENSED BALANCE SHEET (Unaudited) - Parenthetical | Sep. 30, 2020$ / sharesshares |
Details | |
Preferred Stock, Par or Stated Value Per Share | $ / shares | $ 0.001 |
Preferred Stock, Shares Authorized | 100,000,000 |
Preferred Stock, Shares Issued | 0 |
Preferred Stock, Shares Outstanding | 0 |
Common Stock, Par or Stated Value Per Share | $ / shares | $ 0.001 |
Common Stock, Shares Authorized | 500,000,000 |
Common Stock, Shares, Issued | 32,452,000 |
Common Stock, Shares, Outstanding | 32,452,000 |
CONDENSED STATEMENT OF OPERATIO
CONDENSED STATEMENT OF OPERATIONS (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended |
Sep. 30, 2020 | Sep. 30, 2020 | |
Expenses: | ||
Operating Expenses | $ 10,621 | $ 76,190 |
Interest expense | 635 | 635 |
Total Expenses | 11,256 | 76,825 |
Loss Before Income Taxes | (11,256) | (76,825) |
Income Tax Expense | 0 | 0 |
NET LOSS | $ (11,256) | $ (76,825) |
Loss per Common Share, Basic and Diluted | $ 0 | $ 0 |
Weighted Average Number of Shares (basic and diluted) | 32,452,000 | 30,534,760 |
CONDENSED STATEMENTS OF STOCKHO
CONDENSED STATEMENTS OF STOCKHOLDERS' DEFICIT (Unaudited) - USD ($) | Preferred Stock | Common Stock | Additional Paid-in Capital | Subscription Receivable | Retained Earnings | Total |
Equity Balance, Starting at Jan. 02, 2020 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 |
Shares Outstanding, Starting at Jan. 02, 2020 | 0 | 0 | ||||
Shares Granted, Value, Share-based Payment Arrangement, after Forfeiture | $ 32,452 | 32,452 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | 32,452,000 | |||||
Net Income (Loss) | $ 0 | $ 0 | 0 | 0 | (76,825) | (76,825) |
Shares Outstanding, Ending at Sep. 30, 2020 | 0 | 32,452,000 | ||||
Equity Balance, Ending at Sep. 30, 2020 | $ 0 | $ 32,452 | 0 | 0 | (76,825) | (44,373) |
Equity Balance, Starting at Jun. 30, 2020 | $ 0 | $ 32,452 | 0 | 0 | (65,569) | (33,117) |
Shares Outstanding, Starting at Jun. 30, 2020 | 0 | 32,452,000 | ||||
Net Income (Loss) | $ 0 | $ 0 | 0 | 0 | 11,256 | 11,256 |
Shares Outstanding, Ending at Sep. 30, 2020 | 0 | 32,452,000 | ||||
Equity Balance, Ending at Sep. 30, 2020 | $ 0 | $ 32,452 | $ 0 | $ 0 | $ (76,825) | $ (44,373) |
CONDENSED STATEMENT OF CASH FLO
CONDENSED STATEMENT OF CASH FLOWS (Unaudited) | 9 Months Ended |
Sep. 30, 2020USD ($) | |
Cash Flows from Operating Activities: | |
Net Loss | $ (76,825) |
Adjustments to Reconcile Net Loss to Net Cash used by Operating Activities: | |
Stock issued for compensation | 32,452 |
Change in Operating Assets and Liabilities | |
A/P and Accrued Expenses | 22,428 |
Prepaid Expenses | (3,000) |
Net Cash Used by Operating Activities | (24,945) |
Cash Flows from Investing Activities: | 0 |
Cash Flows from Financing Activities: | |
Proceeds from Related Party Note Payable | 25,000 |
Net Cash Provided by Financing Activities | 25,000 |
Net Increase (Decrease) in Cash | 55 |
Cash and Cash Equivalents, at Carrying Value, Beginning Balance | 0 |
Cash and Cash Equivalents, at Carrying Value, Ending Balance | 55 |
Supplemental Disclosures of Cash Flow Information: | |
Interest | 0 |
Income taxes | $ 0 |
NOTE 1 - SUMMARY OF SIGNIFICANT
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Sep. 30, 2020 | |
Notes | |
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization – PIPERGY Inc. (“the Company”) was organized under the laws of the State of Wyoming on January 3, 2020. The Company is in the oil and gas pipeline maintenance industry. The Company was organized to provide a vehicle for participating in potentially profitable business ventures which may become available through the personal contacts of, and at the complete discretion of, the Company’s officers and directors. The Company has, at the present time, not paid any dividends and any dividends that may be paid in the future will depend upon the financial requirements of the Company and other relevant factors. Basis of Presentation - The accompanying unaudited, condensed financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information, and the Securities and Exchange Commission ("SEC") rules for interim financial reporting. Certain information and footnote disclosures normally included in the condensed consolidated financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations. However, in the opinion of management, the accompanying interim condensed financial statements reflect all normal recurring adjustments necessary to present fairly the Company's condensed financial position as of September 30, 2020 and the condensed results of operations and cash flows for the periods presented. The condensed results of operations for interim periods are not necessarily indicative of the results of operations to be expected for any subsequent interim period or for the fiscal year ended December 31, 2020. The accompanying unaudited, condensed financial statements and notes thereto should be read in conjunction with the audited financial statements for the period from January 3, 2020 through June 30, 2020 included in the Company's Form S-1, which was declared effective on September 23, 2020. Loss Per Share – The Company computes loss per share in accordance with ASC Topic No. 260, Earnings Per Share, which requires the Company to present basic and dilutive loss per share when the effect is dilutive. At September 30, 2020, the computed loss per basic/diluted share was $(0.00). Accounting Estimates – The preparation of condensed financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimated by management. |
NOTE 2 - GOING CONCERN
NOTE 2 - GOING CONCERN | 9 Months Ended |
Sep. 30, 2020 | |
Notes | |
NOTE 2 - GOING CONCERN | NOTE 2 – GOING CONCERN The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate continuation of the Company as a going concern. However, the Company was only recently formed, has not yet established profitable operations and has incurred losses since inception. These factors raise substantial doubt about the ability of the Company to continue as a going concern. In this regard, management is proposing to raise additional funds not provided by operations through loans or through sales of its common stock. There is no assurance that the Company will be successful in raising this additional capital or in achieving profitable operations. The financial statements do not include any adjustments that might result from the outcome of these uncertainties. |
NOTE 3 - RELATED PARTY TRANSACT
NOTE 3 - RELATED PARTY TRANSACTIONS | 9 Months Ended |
Sep. 30, 2020 | |
Notes | |
NOTE 3 - RELATED PARTY TRANSACTIONS | NOTE 3 – RELATED PARTY TRANSACTIONS Management Compensation – For the period from inception to September 30, 2020, the Company did not pay any cash compensation to its officers and directors. For the period from inception to September 30, 2020, the Company issued common shares as follows: 10,000,000 shares to Thomas J. Mohnen (CEO); 10,180,000 shares to J. Paul Geeding, Jr. (COO), 10,000,000 shares to Alan R. Josselyn (President); and 2,272,000 shares to Leonard M. Stillman Jr. (CFO). The common shares were issued as compensation for services rendered in forming the company, providing specialized expertise, and time and materials provided. The common shares were valued at the common stock par value of $0.001 for a total value of $32,452. Office Space – The Company has not had a need to rent office space. An officer/shareholder of the Company is allowing the Company to use his home as a mailing address, as needed, at no expense to the Company. Tom Mohnen, the CEO of the company, paid $102 for the incorporation and J. Paul Geeding, the COO of the company, provided $1,000 for the initial deposit to open the bank account. J. Paul Geeding paid the accounts payable of $7,500 to J. M. Walker & Associates out of his private funds. Tom Mohnen sold personal non-registered stock for $25,000 and loaned the proceeds to the company. There is a formal note with 9% interest due on June 20, 2021. Accrued interest at September 30, 2020 was $635. J. Paul Geeding paid the prepaid expenses of $3,000 to J. M. Walker & Associates out of his private funds. |
NOTE 4 - CAPITAL STOCK
NOTE 4 - CAPITAL STOCK | 9 Months Ended |
Sep. 30, 2020 | |
Notes | |
NOTE 4 - CAPITAL STOCK | NOTE 4 – CAPITAL STOCK Preferred Stock – The Company currently has 100,000,000 shares of preferred stock authorized with a par value of $0.001 per share. At September 30, 2020, the Company had no shares of preferred stock issued and outstanding. Common Stock – The Company currently has 500,000,000 shares of common stock authorized with a par value of $0.001 par value. At September 30, 2020, the Company had 32,452,000 shares of common stock issued and outstanding. Shares issued were as follows: 9,311,667 shares to Thomas J. Mohnen (CEO); 9,520,667 shares to J. Paul Geeding, Jr. (COO), 9,340,666 shares to Alan R. Josselyn (President); and 4,000,000 shares to Leonard M. Stillman Jr. (CFO). Shares were issued as compensation for services rendered in forming the company, providing specialized expertise, and time and materials provided. Shares were valued at the common stock par value of $0.001 for a total value of $32,452. The remaining 279,000 shares have been sold privately. |
NOTE 5 - SUBSEQUENT EVENTS
NOTE 5 - SUBSEQUENT EVENTS | 9 Months Ended |
Sep. 30, 2020 | |
Notes | |
NOTE 5 - SUBSEQUENT EVENTS | NOTE 5 – SUBSEQUENT EVENTS The Company has evaluated subsequent events from the balance sheet date through the date which the financial statements were available to be issued and determined there are no events to disclose. |
NOTE 1 - SUMMARY OF SIGNIFICA_2
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Basis of Presentation (Policies) | 9 Months Ended |
Sep. 30, 2020 | |
Policies | |
Basis of Presentation | Basis of Presentation - The accompanying unaudited, condensed financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information, and the Securities and Exchange Commission ("SEC") rules for interim financial reporting. Certain information and footnote disclosures normally included in the condensed consolidated financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations. However, in the opinion of management, the accompanying interim condensed financial statements reflect all normal recurring adjustments necessary to present fairly the Company's condensed financial position as of September 30, 2020 and the condensed results of operations and cash flows for the periods presented. The condensed results of operations for interim periods are not necessarily indicative of the results of operations to be expected for any subsequent interim period or for the fiscal year ended December 31, 2020. The accompanying unaudited, condensed financial statements and notes thereto should be read in conjunction with the audited financial statements for the period from January 3, 2020 through June 30, 2020 included in the Company's Form S-1, which was declared effective on September 23, 2020. |
NOTE 1 - SUMMARY OF SIGNIFICA_3
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Loss Per Share (Policies) | 9 Months Ended |
Sep. 30, 2020 | |
Policies | |
Loss Per Share | Loss Per Share – The Company computes loss per share in accordance with ASC Topic No. 260, Earnings Per Share, which requires the Company to present basic and dilutive loss per share when the effect is dilutive. At September 30, 2020, the computed loss per basic/diluted share was $(0.00). |
NOTE 1 - SUMMARY OF SIGNIFICA_4
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Accounting Estimates (Policies) | 9 Months Ended |
Sep. 30, 2020 | |
Policies | |
Accounting Estimates | Accounting Estimates – The preparation of condensed financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimated by management. |
NOTE 1 - SUMMARY OF SIGNIFICA_5
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) | 9 Months Ended |
Sep. 30, 2020 | |
Details | |
Entity Incorporation, State or Country Code | WY |
Entity Incorporation, Date of Incorporation | Jan. 3, 2020 |
NOTE 1 - SUMMARY OF SIGNIFICA_6
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Loss Per Share (Details) | 9 Months Ended |
Sep. 30, 2020$ / shares | |
Details | |
Earnings Per Share, Diluted | $ 0 |
NOTE 3 - RELATED PARTY TRANSA_2
NOTE 3 - RELATED PARTY TRANSACTIONS (Details) | 9 Months Ended |
Sep. 30, 2020USD ($) | |
Details | |
Common Stock, Value | $ 32,452 |
Debt Instrument, Description | formal note |
Debt Instrument, Interest Rate, Stated Percentage | 9.00% |
Debt Instrument, Maturity Date | Jun. 20, 2021 |
Interest Payable, Current | $ 635 |
NOTE 4 - CAPITAL STOCK (Details
NOTE 4 - CAPITAL STOCK (Details) | Sep. 30, 2020USD ($)$ / sharesshares |
Details | |
Preferred Stock, Shares Authorized | 100,000,000 |
Preferred Stock, Par or Stated Value Per Share | $ / shares | $ 0.001 |
Preferred Stock, Shares Issued | 0 |
Preferred Stock, Shares Outstanding | 0 |
Common Stock, Shares Authorized | 500,000,000 |
Common Stock, Par or Stated Value Per Share | $ / shares | $ 0.001 |
Common Stock, Shares, Issued | 32,452,000 |
Common Stock, Shares, Outstanding | 32,452,000 |
Common Stock, Value | $ | $ 32,452 |