Document and Entity Information
Document and Entity Information - USD ($) | Apr. 15, 2021 | Dec. 31, 2020 | Jun. 30, 2020 |
Details | |||
Registrant CIK | 0001803827 | ||
Document Type | 10-K/A | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2020 | ||
Current Fiscal Year End Date | --12-31 | ||
Document Transition Report | false | ||
Entity File Number | 333-240364 | ||
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, including zip code | ||
Phone Fax Number Description | Registrant's Telephone number, including area code | ||
City Area Code | 307 | ||
Local Phone Number | 746-8673 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Interactive Data Current | Yes | ||
Entity Current Reporting Status | 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 Public Float | $ 0 | ||
Entity Common Stock, Shares Outstanding | 32,452,000 | ||
Entity Listing, Par Value Per Share | $ 0.001 | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2020 | ||
Document Fiscal Period Focus | FY |
BALANCE SHEET
BALANCE SHEET | Dec. 31, 2020USD ($) |
CURRENT ASSETS: | |
Cash | $ 692 |
Prepaid Expenses | 154 |
Total Current Assets | 846 |
CURRENT LIABILITIES: | |
Accounts Payable | 36,648 |
Advances - Related Parties | 23,152 |
Accrued Expenses | 43,533 |
Notes Payable - Related Party | 25,000 |
Accrued Interest | 1,202 |
Total Current Liabilities | 129,535 |
STOCKHOLDERS' DEFICIT: | |
Preferred Stock, Value | 0 |
Common Stock, Value | 32,452 |
Accumulated Deficit | (161,141) |
Total Stockholders' Deficit | (128,689) |
Total Liabilities and Stockholders' Deficit | $ 846 |
BALANCE SHEET - Parenthetical
BALANCE SHEET - Parenthetical - $ / shares | Dec. 31, 2020 | Dec. 31, 2019 |
Details | ||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Preferred Stock, Shares Authorized | 100,000,000 | 100,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 500,000,000 | 500,000,000 |
Common Stock, Shares, Issued | 32,452,000 | 32,452,000 |
Common Stock, Shares, Outstanding | 32,452,000 | 32,452,000 |
STATEMENT OF OPERATIONS
STATEMENT OF OPERATIONS | 12 Months Ended |
Dec. 31, 2020USD ($)shares | |
Expenses: | |
Operating Expenses | $ 159,939 |
Interest Expense | 1,202 |
Total Expenses | 161,141 |
Loss Before Income Taxes | (161,141) |
Income Tax Expense | 0 |
NET LOSS | $ (161,141) |
Weighted Average Number of Shares (basic and diluted) | shares | 31,020,672 |
STATEMENT OF STOCKHOLDERS' DEFI
STATEMENT OF STOCKHOLDERS' DEFICIT - 12 months ended Dec. 31, 2020 - 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 | $ 0 | $ 32,452 | 0 | 0 | 0 | 32,452 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | 0 | 32,452,000 | ||||
Net Income (Loss) | $ 0 | $ 0 | 0 | 0 | (161,141) | (161,141) |
Shares Outstanding, Ending at Dec. 31, 2020 | 0 | 32,452,000 | ||||
Equity Balance, Ending at Dec. 31, 2020 | $ 0 | $ 32,452 | $ 0 | $ 0 | $ (161,141) | $ (128,689) |
STATEMENT OF CASH FLOWS (Unaudi
STATEMENT OF CASH FLOWS (Unaudited) | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Cash Flows from Operating Activities: | |
Net Loss | $ (161,141) |
Adjustments to Reconcile Net Loss to Net Cash Used by Operating Activities: | |
Stock based compensation | 32,452 |
Change in Operating Assets and Liabilities: | |
A/P and Accrued Expenses | 104,535 |
Prepaid Expenses | (154) |
Net Cash Used by Operating Activities | (24,308) |
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 | 692 |
Cash and Cash Equivalents, at Carrying Value, Beginning Balance | 0 |
Cash and Cash Equivalents, at Carrying Value, Ending Balance | 692 |
Supplemental Disclosures of Cash Flow Information: | |
Interest | 0 |
Income taxes | $ 0 |
NOTE 1 - SUMMARY OF SIGNIFICANT
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 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. Cash and Cash Equivalents – The Company considers all highly liquid debt investments purchased with a maturity of three months or less to be cash equivalents. Income Taxes – The Company accounts for income taxes in accordance with ASC Topic No. 740, “Accounting for Income Taxes”. The Company has no tax positions at December 31, 2020 for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility. The Company recognizes interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. During the period ended December 31, 2020, the Company recognized no interest and penalties. The Company had no accruals for interest and penalties at December 31, 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 December 31, 2020, the computed loss per basic/diluted share was $(0.01), Accounting Estimates – The preparation of 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 | 12 Months Ended |
Dec. 31, 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 | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
NOTE 3 - RELATED PARTY TRANSACTIONS | NOTE 3 – RELATED PARTY TRANSACTIONS Management Compensation – For the period from inception to December 31, 2020, the Company did not pay any cash compensation to its officers and directors. For the period from inception to December 31, 2020, the Company issued 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. For the period from January 3, 2020 (inception) to December 31, 2020, 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. |
NOTE 4 - CAPITAL STOCK
NOTE 4 - CAPITAL STOCK | 12 Months Ended |
Dec. 31, 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 January 16, 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 December 31, 2020, the Company had 32,452,000 shares of common stock issued and outstanding. Shares issued were 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). 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. |
NOTE 5 - INCOME TAXES
NOTE 5 - INCOME TAXES | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
NOTE 5 - INCOME TAXES | NOTE 5 - INCOME TAXES The Company accounts for income taxes in accordance with ASC Topic No. 740. This standard requires the Company to provide a net deferred tax asset or liability equal to the expected future tax benefit or expense of temporary reporting differences between book and tax accounting methods and any available operating loss or tax credit carryforwards. Deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. The Tax Cut and Jobs Act was enacted on December 22, 2017, which reduced the U.S. corporate statutory tax rate from 35% to 21% beginning on January 1, 2018. The company used 21% as an effective rate. Deferred tax assets are comprised of the following: 2020 Deferred tax assets: NOL carryover $ 1,600 Valuation allowance (1,600) Net deferred tax asset $ - The reconciliation of the provision for income taxes computed at the U.S. federal statutory tax rate (21%) to the Company’s effective tax rate for the year ended December 31, 2020 is as follows: 2020 Book Loss $ (33,800) Stock Compensation 6,815 Valuation allowance 26,985 Provision for Income Taxes $ - At December 31, 2020, the Company had net operating loss carryforwards of approximately $8,000 that may be offset against future taxable income from the year 2021 through 2040. No tax benefit has been reported in the December 31, 2020 financial statement since the potential tax benefit is offset by a valuation allowance of the same amount. Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carryforwards for Federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur, net operating loss carryforwards may be limited as to use in future years. |
NOTE 6 - SUBSEQUENT EVENTS
NOTE 6 - SUBSEQUENT EVENTS | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
NOTE 6 - SUBSEQUENT EVENTS | NOTE 6 – SUBSEQUENT EVENTS Effective on April 15, 2021, Leonard M. Stillman Jr. resigned as Chief Financial Officer. Thomas Mohnen shall act as Interim Chief Financial Officer until the appointment of a new Chief Financial Officer. During the 1 st 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 additional events to disclose. |
NOTE 1 - SUMMARY OF SIGNIFICA_2
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Cash and Cash Equivalents (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Cash and Cash Equivalents | Cash and Cash Equivalents – The Company considers all highly liquid debt investments purchased with a maturity of three months or less to be cash equivalents. |
NOTE 1 - SUMMARY OF SIGNIFICA_3
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Income Taxes (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Income Taxes | Income Taxes – The Company accounts for income taxes in accordance with ASC Topic No. 740, “Accounting for Income Taxes”. The Company has no tax positions at December 31, 2020 for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility. The Company recognizes interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. During the period ended December 31, 2020, the Company recognized no interest and penalties. The Company had no accruals for interest and penalties at December 31, 2020. |
NOTE 1 - SUMMARY OF SIGNIFICA_4
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Loss Per Share (Policies) | 12 Months Ended |
Dec. 31, 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 December 31, 2020, the computed loss per basic/diluted share was $(0.01), |
NOTE 1 - SUMMARY OF SIGNIFICA_5
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Accounting Estimates (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Accounting Estimates | Accounting Estimates – The preparation of 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 5 - INCOME TAXES_ Schedule
NOTE 5 - INCOME TAXES: Schedule of Components of Income Tax Expense (Benefit) (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Schedule of Components of Income Tax Expense (Benefit) | 2020 Deferred tax assets: NOL carryover $ 1,600 Valuation allowance (1,600) Net deferred tax asset $ - |
NOTE 5 - INCOME TAXES_ Schedu_2
NOTE 5 - INCOME TAXES: Schedule of Effective Income Tax Rate Reconciliation (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Schedule of Effective Income Tax Rate Reconciliation | 2020 Book Loss $ (33,800) Stock Compensation 6,815 Valuation allowance 26,985 Provision for Income Taxes $ - |
NOTE 1 - SUMMARY OF SIGNIFICA_6
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) | 12 Months Ended |
Dec. 31, 2020 | |
Details | |
Entity Incorporation, State or Country Code | WY |
Entity Incorporation, Date of Incorporation | Jan. 3, 2020 |
NOTE 1 - SUMMARY OF SIGNIFICA_7
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Loss Per Share (Details) | 12 Months Ended |
Dec. 31, 2020$ / shares | |
Details | |
Earnings Per Share, Diluted | $ (0.01) |
NOTE 3 - RELATED PARTY TRANSA_2
NOTE 3 - RELATED PARTY TRANSACTIONS (Details) | 12 Months Ended |
Dec. 31, 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 |
NOTE 4 - CAPITAL STOCK (Details
NOTE 4 - CAPITAL STOCK (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Details | ||
Preferred Stock, Shares Authorized | 100,000,000 | 100,000,000 |
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Common Stock, Shares Authorized | 500,000,000 | 500,000,000 |
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares, Issued | 32,452,000 | 32,452,000 |
Common Stock, Shares, Outstanding | 32,452,000 | 32,452,000 |
Common Stock, Value | $ 32,452 |
NOTE 5 - INCOME TAXES_ Schedu_3
NOTE 5 - INCOME TAXES: Schedule of Components of Income Tax Expense (Benefit) (Details) | Dec. 31, 2020USD ($) |
Deferred tax assets: | |
NOL carryover | $ 1,600 |
Valuation allowance | (1,600) |
Net deferred tax asset | $ 0 |
NOTE 5 - INCOME TAXES_ Schedu_4
NOTE 5 - INCOME TAXES: Schedule of Effective Income Tax Rate Reconciliation (Details) | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Details | |
Book Loss | $ (33,800) |
Stock Compensation | 6,815 |
Valuation allowance | 26,985 |
Provision for Income Taxes | $ 0 |
NOTE 6 - SUBSEQUENT EVENTS (Det
NOTE 6 - SUBSEQUENT EVENTS (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2020 | |
Details | |||
Subsequent Event, Date | Apr. 15, 2021 | ||
Subsequent Event, Description | Leonard M. Stillman Jr. resigned as Chief Financial Officer | ||
Proceeds from Related Party Note Payable | $ 17,385 | $ 25,000 |