Healthcare Opportunities 10-Q 1 Feb 22 2021 Q1 Quarterly report Financial data

Cover

Cover	10 Months Ended
	Mar. 31, 2021shares
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2021
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31
Entity File Number	000-56188
Entity Registrant Name	EMERGING OPPORTUNITIES CORP
Entity Central Index Key	0001815547
Entity Tax Identification Number	85-1192377
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	One Gateway Center
Entity Address, Address Line Two	26th Fl
Entity Address, City or Town	Newark
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07102.
City Area Code	(973)
Local Phone Number	277-4239
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
Elected Not To Use the Extended Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	20,000,000

BALANCE SHEET (UNAUDITED)

BALANCE SHEET (UNAUDITED)	Mar. 31, 2021USD ($)
Current Assets
Cash and Cash Equivalents	$ 205
Total Assets	205
Current Liabilities
Accrued Liabilities	0
Due to Related Party	0
Total Liabilities	0
STOCKHOLDER’S EQUITY
issued and outstanding	2,000
Additional Paid In Capital	4,000
Accumulated Deficit	(5,795)
Total Stockholder’s Equity	205
Total Liabilities and Stockholder’s Equity	$ 205

BALANCE SHEET (UNAUDITED) (Pare

BALANCE SHEET (UNAUDITED) (Parenthetical)	Mar. 31, 2021$ / sharesshares
Statement of Financial Position [Abstract]
Common Stock, Par value | $ / shares	$ 0.0001
Common Stock, Shares Authorized	20,000,000
Common Stock, Shares Issued	20,000,000
Common Stock, Shares Outstanding	20,000,000

STATEMENT OF OPERATIONS (UNAUDI

STATEMENT OF OPERATIONS (UNAUDITED)	10 Months Ended
	Mar. 31, 2021USD ($)$ / sharesshares
Income Statement [Abstract]
Revenues	$ 0
Cost of Revenue	0
Gross Profit	0
Professional Fee	5,000
Legal Fee	0
General and Administrative Expenses	795
Loss Before Income Taxes	(5,795)
Income Tax Expense	0
Net loss	$ (5,795)
Loss per share - Basic | $ / shares	$ (0.0001)
Weighted Average Shares -
Basic and Diluted | shares	20,000,000

STATEMENT OF CHANGES IN STOCKHO

STATEMENT OF CHANGES IN STOCKHOLDER'S EQUITY (UNAUDITED) - 10 months ended Mar. 31, 2021 - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at May. 25, 2020	$ 0	$ 0	$ 0	$ 0
Beginning balance, shares at May. 25, 2020	0
Issuance of Common Stock	$ 2,000	4,000		6,000
Issuance of Common Stock, shares	20,000,000
Net Loss			5,795	(5,795)
Ending balance, value at Mar. 31, 2021	$ 2,000	$ 4,000	$ 5,795	$ 205
Ending balance, shares at Mar. 31, 2021	20,000,000

STATEMENT OF CASH FLOWS (UNAUDI

STATEMENT OF CASH FLOWS (UNAUDITED)	10 Months Ended
	Mar. 31, 2021USD ($)
Statement of Cash Flows [Abstract]
Net Loss	$ (5,795)
Adjustments to reconcile net loss to net cash  used in operating activities:
Accounts Payable	0
Net cash used in operating activities	(5,795)
CASH FLOWS FROM INVESTING ACTIVITIES	0
CASH FLOWS FROM FINANCING ACTIVITIES
Common Shares Issued for Cash	2,000
Related Party Receivable	0
Paid in Capital In Excess of Par	0
Net Cash Provided by Financing Activities	4,000
Cash and Cash Equivalents, beginning of period	6,000
Cash and cash equivalents, end of period	205
SUPPLEMENTAL DISCLOSURES:
Interest Paid	0
Taxes Paid	$ 0

Organization and Description of

Organization and Description of Business	10 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Organization and Description of Business	Note 1 – Organization and Description of Business Emerging Opportunities Corp (the “Company”) was incorporated on May 26, 2020 under the laws of the State of Delaware to engage in lawful corporate undertaking, including, but limited to, selected mergers and acquisitions. The Company was originally incorporated as Healthcare Opportunities Corp but filed an Amended Certificate of Incorporation on July 28, 2020 changing its name to Emerging Opportunities Corp. T he Company has been in the developmental stage since its inception and its operations to date have been limited to issuing shares to its original shareholders. The Company will attempt to locate and negotiate with a business entity for the combination of that target company with the Company. The combination will normally take the form of a merger, stock-for-stock exchange or stocks for assets exchange. The Company has elected December 31 st

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	10 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation These accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for annual financial statements. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates on historical experience, known or expected trends and various other assumptions that are believed to be reasonable given the quality of information available as of the date of these financial statements. The results of these assumptions provide the basis for making estimates about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results could differ from these estimates. Fair Value of Financial Instruments The Company’s balance sheet includes certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization. ASC 820, Fair Value Measurements and Disclosures 3). The three levels of the fair value hierarchy are described below: Level 1 inputs are quoted (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for asset or liability, either directly or indirectly. Level 3 inputs are observable input for asset or liability. The carrying amount of financial assets such as cash approximate their fair values because of short maturity of these assets. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of March 31, 2021. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These financial instruments include cash and cash equivalents, accounts payable and accrued liabilities, and promissory notes payable. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. The Company maintains its cash balances with a high-credit-quality financial institution. The following table depicts the composition of the Company’s cash and cash equivalents as of March 31, 2021: Schedule of Cash and Cash Equivalents March 31, 2021 Deposits placed with banks $ 205.00 Total cash and cash equivalents $ 205.00 Concentration of Risk Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of cash. The Company did no Income Taxes The Company accounts for income taxes under ASC 740, Income Taxes Related Parties The Company follows ASC 850, Related Party Disclosures, Revenue Recognition In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) Revenue is recognized when persuasive evidence of an arrangement exists, delivery has occurred, the fee is fixed or determinable, and collectability is probable. Revenue generally is recognized net of allowances for returns and any taxes collected from customers and subsequently remitted to governmental authorities. Share-Based Compensation ASC 718, “ Compensation – Stock Compensation The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50, “ Equity – Based Payments to Non-Employees.” The Company did not have any stock-based compensation plans in effect at March 31, 2021. The Company’s stock-based compensation for the period from May 26, 2020 (inception) through March 31, 2021 was $ 0.00 Basic Earnings (Loss) Per Share The Company computes basic and diluted earnings (loss) per share in accordance with ASC Topic 260, Earnings per Share The Company does not have any potentially dilutive instruments as of March 31, 2021 and, thus, anti-dilution issues are not applicable. Recent Pronouncements The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new pronouncements that have been issued that might have a material impact on its financial position or results of operations except as noted below: In August 2018, the FASB issued ASU 2018-14, regarding ASC Topic 820, Fair Value Measurement In May 2019, the FASB issued ASU 2019-05, regarding ASC 326, Financial Instruments – Credit Losses Financial Instruments - Credit Losses (Topic 326)

GOING CONCERN

GOING CONCERN	10 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN	NOTE 3 – GOING CONCERN The accompanying financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business for the twelve-month period following the date of these financial statements. The Company has sustained operating losses since its inception and has yet to establish any sources of revenue sufficient to sustain its current operations. At March 31, 2021, the Company had a working capital of $ 235.00 5795.00

INCOME TAXES

INCOME TAXES	10 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 4 – INCOME TAXES Reconciliation of the income tax expense / (benefit) computed at the U.S. Federal income tax rate to the Company’s reported income tax expense / (benefit) for the period ended March 31, 2021 is as follows: Schedule of Effective Income Tax Rate Reconciliation For the period from inception to March 31, 2021 Profit / (loss) from operations before income tax $ (5,795 ) Income tax rate 21 % Income tax expense at the U.S Federal tax $ (1,217 ) Adjustments to derive effective tax rate: State and local net of federal benefit — Non-deductible stock bases compensation — Other non-deductible expenses — Non allowable carryover of losses 243 Valuation allowance $ 974 Income tax (benefit) / expenses $ — The ultimate realization of deferred tax assets depends primarily on the Company’s ability to generate sufficient timely future income of the appropriate character in the appropriate taxing jurisdiction. At March 31, 2021 the Company has no The following tables set forth the components of deferred income taxes as of March 31, 2021: Schedule of Components of Deferred Income Tax March 31, 2021 Deferred tax assets: Net operating loss carryforwards 5,795 Less: valuation allowance (5,795 ) Total deferred tax asset $ — On December 22, 2017, the United States enacted the Tax Cuts and Jobs Act (“TCJA”), which instituted fundamental changes to the taxation of corporations, including a reduction the U.S. corporate income tax rate to 21 As of March 31, 2021, the Company had federal, state, and local net operating loss carryforwards of approximately $ 5,795

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	10 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 6 – COMMITMENTS AND CONTINGENCIES The Company estimates loss contingencies in accordance with FASB ASC 450-20, Loss Contingencies

STOCKHOLDERS_ DEFICIT

STOCKHOLDERS’ DEFICIT	10 Months Ended
	Mar. 31, 2021
Equity [Abstract]
STOCKHOLDERS’ DEFICIT	NOTE 7 – STOCKHOLDERS’ DEFICIT Common Stock The authorized common stock of the Company consists of 20,000,000 0.0001 20,000,000 Pertinent Rights and Privileges Holders of shares of the Company’s common stock are entitled to one vote for each share held to be used at all stockholders’ meetings and for all purposes including the election of directors. Common stock does not have cumulative voting rights, nor does it have preemptive or preferential rights to acquire or subscribe for any unissued shares of any class of stock.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	10 Months Ended
	Mar. 31, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 8 – SUBSEQUENT EVENTS In accordance with FASB ASC 855-10, the Company has analyzed its operations subsequent to March 31, 2021 to the date these consolidated financial statements were issued and has determined that it does not have any material subsequent events to disclose in these consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	10 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation These accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for annual financial statements.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates on historical experience, known or expected trends and various other assumptions that are believed to be reasonable given the quality of information available as of the date of these financial statements. The results of these assumptions provide the basis for making estimates about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results could differ from these estimates.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company’s balance sheet includes certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization. ASC 820, Fair Value Measurements and Disclosures 3). The three levels of the fair value hierarchy are described below: Level 1 inputs are quoted (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for asset or liability, either directly or indirectly. Level 3 inputs are observable input for asset or liability. The carrying amount of financial assets such as cash approximate their fair values because of short maturity of these assets. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of March 31, 2021. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These financial instruments include cash and cash equivalents, accounts payable and accrued liabilities, and promissory notes payable.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. The Company maintains its cash balances with a high-credit-quality financial institution. The following table depicts the composition of the Company’s cash and cash equivalents as of March 31, 2021: Schedule of Cash and Cash Equivalents March 31, 2021 Deposits placed with banks $ 205.00 Total cash and cash equivalents $ 205.00
Concentration of Risk	Concentration of Risk Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of cash. The Company did no
Income Taxes	Income Taxes The Company accounts for income taxes under ASC 740, Income Taxes
Related Parties	Related Parties The Company follows ASC 850, Related Party Disclosures,
Revenue Recognition	Revenue Recognition In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) Revenue is recognized when persuasive evidence of an arrangement exists, delivery has occurred, the fee is fixed or determinable, and collectability is probable. Revenue generally is recognized net of allowances for returns and any taxes collected from customers and subsequently remitted to governmental authorities.
Share-Based Compensation	Share-Based Compensation ASC 718, “ Compensation – Stock Compensation The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50, “ Equity – Based Payments to Non-Employees.” The Company did not have any stock-based compensation plans in effect at March 31, 2021. The Company’s stock-based compensation for the period from May 26, 2020 (inception) through March 31, 2021 was $ 0.00
Basic Earnings (Loss) Per Share	Basic Earnings (Loss) Per Share The Company computes basic and diluted earnings (loss) per share in accordance with ASC Topic 260, Earnings per Share The Company does not have any potentially dilutive instruments as of March 31, 2021 and, thus, anti-dilution issues are not applicable.
Recent Pronouncements	Recent Pronouncements The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new pronouncements that have been issued that might have a material impact on its financial position or results of operations except as noted below: In August 2018, the FASB issued ASU 2018-14, regarding ASC Topic 820, Fair Value Measurement In May 2019, the FASB issued ASU 2019-05, regarding ASC 326, Financial Instruments – Credit Losses Financial Instruments - Credit Losses (Topic 326)

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	10 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Schedule of Cash and Cash Equivalents	Schedule of Cash and Cash Equivalents March 31, 2021 Deposits placed with banks $ 205.00 Total cash and cash equivalents $ 205.00

INCOME TAXES (Tables)

INCOME TAXES (Tables)	10 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	Schedule of Effective Income Tax Rate Reconciliation For the period from inception to March 31, 2021 Profit / (loss) from operations before income tax $ (5,795 ) Income tax rate 21 % Income tax expense at the U.S Federal tax $ (1,217 ) Adjustments to derive effective tax rate: State and local net of federal benefit — Non-deductible stock bases compensation — Other non-deductible expenses — Non allowable carryover of losses 243 Valuation allowance $ 974 Income tax (benefit) / expenses $ —
Schedule of Components of Deferred Income Tax	Schedule of Components of Deferred Income Tax March 31, 2021 Deferred tax assets: Net operating loss carryforwards 5,795 Less: valuation allowance (5,795 ) Total deferred tax asset $ —

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Mar. 31, 2021USD ($)
Accounting Policies [Abstract]
Deposits placed with banks	$ 205
Total cash and cash equivalents	$ 205

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	10 Months Ended
	Mar. 31, 2021USD ($)
Accounting Policies [Abstract]
Federal deposit insurance corporation	$ 0
Stock based compensation	$ 0

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative)	Mar. 31, 2021USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Working capital	$ 235
Retained Earnings (Accumulated Deficit)	$ 5,795

INCOME TAXES (Details)

INCOME TAXES (Details)	10 Months Ended
	Mar. 31, 2021USD ($)
Income Tax Disclosure [Abstract]
Profit (loss) from operations before income tax	$ (5,795)
Income tax rate	21.00%
Income tax expense at the U.S Federal tax	$ (1,217)
State and local net of federal benefit	0
Non-deductible stock bases compensation	0
Other non-deductible expenses	0
Non allowable carryover of losses	243
Valuation allowance	974
Income tax (benefit) / expenses	$ 0

INCOME TAXES (Details 1)

INCOME TAXES (Details 1)	Mar. 31, 2021USD ($)
Deferred tax assets:
Net operating loss carryforwards	$ 5,795
Less: valuation allowance	(5,795)
Total deferred tax asset	$ 0

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative)	10 Months Ended
	Mar. 31, 2021USD ($)
Income Tax Disclosure [Abstract]
Unrecognized tax benefits	$ 0
Income tax rate	21.00%
Operating loss carryforwards	$ 5,795

STOCKHOLDERS_ DEFICIT (Details

STOCKHOLDERS’ DEFICIT (Details Narrative)	Mar. 31, 2021$ / sharesshares
Equity [Abstract]
Common stock, shares authorized	20,000,000
Common stock, par value | $ / shares	$ 0.0001
Common stock, shares, issued	20,000,000