Incordex (ICDX) 10-Q 14 May 21 2021 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Mar. 31, 2021	May 14, 2021
Cover [Abstract]
Entity Registrant Name	Incordex Corp.
Entity Central Index Key	0001818550
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Current Reporting Status	Yes
Document Period End Date	Mar. 31, 2021
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2021
Entity Ex Transition Period	false
Entity Common Stock Shares Outstanding		5,000,000
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes

Balance sheets

Balance sheets - USD ($)	Mar. 31, 2021	Jun. 30, 2020
ASSETS
CASH ON HAND	$ 1,500	$ 3,500
PREPAID EXPENSES	0	1,500
TOTAL ASSETS	1,500	5,000
LIABILITIES AND STOCKHOLDERS' EQUITY
DIRECTOR LOAN	4,989	760
ACCOUNTS PAYABLE	2,000	0
TOTAL LIABILITIES	6,989	760
STOCKHOLDER'S EQUITY
COMMON STOCK, PAR VALUE $0.001; 75,000,000 SHARES AUTHORIZED, 5,000,000 SHARES ISSUED AND OUTSTANDING	5,000	5,000
ACCUMULATED DEFICIT	(10,489)	(760)
TOTAL STOCKHOLDER'S EQUITY	(5,489)	4,240
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY	$ 1,500	$ 5,000

Balance sheets (Parenthetical)

Balance sheets (Parenthetical) - $ / shares	Mar. 31, 2021	Jun. 30, 2020
STOCKHOLDER'S EQUITY
Common Stock, Par value	$ 0.001	$ 0.001
Common Stock, Shares authorized	75,000,000	75,000,000
Common Stock, Shares issued	5,000,000	5,000,000
Common Stock, Shares outstanding	5,000,000	5,000,000

Statements of operations (Unaud

Statements of operations (Unaudited) - USD ($)	3 Months Ended	9 Months Ended
	Mar. 31, 2021	Mar. 31, 2021
Statements of operations (Unaudited)
REVENUES	$ 0	$ 0
OPERATING EXPENSES
GENERAL AND ADMINISTRATIVE EXPENSES	1,725	9,729
TOTAL OPERATING EXPENSES	(1,725)	(9,729)
NET INCOME (LOSS) FROM OPERATIONS	(1,725)	(9,729)
PROVISION FOR INCOME TAXES	0	0
NET LOSS	$ (1,725)	$ (9,729)
NET LOSS PER SHARE: BASIC AND DILUTED	$ 0	$ 0
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	5,000,000	5,000,000

Statement of Changes in Stockho

Statement of Changes in Stockholders Equity (Unaudited) - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]
Balance, shares at Jun. 12, 2020
Balance, amount at Jun. 12, 2020	$ 0	$ 0	$ 0	$ 0
SHARES ISSUED FOR CASH $0.001 PER SHARE ON JUNE 19, 2020, shares		5,000,000
SHARES ISSUED FOR CASH $0.001 PER SHARE ON JUNE 19, 2020, amount	5,000	$ 5,000	0
NET LOSS	(760)	$ 0	0	(760)
Balance, shares at Jun. 30, 2020		5,000,000
Balance, amount at Jun. 30, 2020	4,240	$ 5,000	0	(760)
NET LOSS	(9,729)	$ 0	0	(9,729)
Balance, shares at Mar. 31, 2021		5,000,000
Balance, amount at Mar. 31, 2021	(5,489)	$ 5,000	0	(10,489)
Balance, shares at Dec. 31, 2020		5,000,000
Balance, amount at Dec. 31, 2020	(3,764)	$ 5,000	0	(8,764)
NET LOSS	(1,725)	$ 0	0	(1,725)
Balance, shares at Mar. 31, 2021		5,000,000
Balance, amount at Mar. 31, 2021	$ (5,489)	$ 5,000	$ 0	$ (10,489)

Statements of cash flows (Unaud

Statements of cash flows (Unaudited)	9 Months Ended
	Mar. 31, 2021USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES
NET LOSS FOR THE PERIOD	$ (9,729)
ADJUSTMENTS TO RECONCILE NET LOSS TO NET CASH FROM OPERATING ACTIVITIES:
PREPAID EXPENSES	1,500
ACCOUNTS PAYABLE	2,000
CASH FLOWS USED IN OPERATING ACTIVITIES	(6,229)
CASH FLOWS FROM FINANCING ACTIVITIES
DIRECTOR LOAN	4,229
PROCEEDS FROM CAPITAL STOCK	0
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES	4,229
NET CHANGE IN CASH	(2,000)
CASH, BEGINNING OF PERIOD	3,500
CASH, END OF PERIOD	1,500
SUPPLEMENTAL CASH FLOW INFORMATION:
INTEREST PAID	0
INCOME TAXES PAID	$ 0

ORGANIZATION AND NATURE OF BUSI

ORGANIZATION AND NATURE OF BUSINESS	9 Months Ended
	Mar. 31, 2021
ORGANIZATION AND NATURE OF BUSINESS
Note 1 - ORGANIZATION AND NATURE OF BUSINESS	Incordex Corp. (“the Company”, “we”, “us” or “our”) we were Incorporated on June 12, 2020 and intend to offer handwritten letter service via our web platform. Incordex Corp. will be an online handwritten letter service that sends handwritten letters and cards. Our customers will be business and private persons. Customers will use our services to send real handwritten letters to prospects and new customers. We expect our main customers will be direct mail marketing companies. Private persons will use our services for their private needs. The letter writers will be freelancers around the world. Our freelancers will be working on independent contract basis. Our current address is 6 Rosemary Way, Nuneaton, CV107ST United Kingdom.

GOING CONCERN

GOING CONCERN	9 Months Ended
	Mar. 31, 2021
GOING CONCERN
Note 2 - GOING CONCERN	The accompanying financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“GAAP”), which contemplate continuation of the Company as a going concern. The Company has an accumulated deficit of $10,489 as of March 31, 2021. The Company currently has losses and has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time. Therefore, there is substantial doubt about the Company’s ability to continue as a going concern. Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses. The Company intends to position itself so that it will be able to raise additional funds through the capital markets. In light of management’s efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern.

SUMMARY OF SIGNIFCANT ACCOUNTIN

SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES	9 Months Ended
	Mar. 31, 2021
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES
Note 3 - SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES	Basis of presentation The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America. The Company’s year-end is June 30, 2020. Use of Estimates The preparation of financial statements in conformity with US GAAP 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. Fair Value of Financial Instruments FASB ASC Topic 820, "Fair Value Measurement," The three levels are defined as follows: 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. Due to its short-term nature, the carrying value of cash, director loans and issuance of common stock approximated fair value at March 31, 2021. Income Taxes The Company is a C Corporation under the Internal Revenue Code and a similar section of the state code. All income tax amounts reflect the use of the liability method under accounting for income taxes. Income taxes are provided for the tax effects of transactions reported in the financial statements and consist of taxes currently due plus deferred taxes arising primarily from differences between financial and tax reporting purposes. Current year expense represents the amount of income taxes paid, payable or refundable for the period. Deferred income taxes, net of appropriate valuation allowances, are determined using the tax rates expected to be in effect when the taxes are actually paid. Valuation allowances are recorded against deferred tax assets when it is more likely than not that such assets will not be realized. When an uncertain tax position meets the more likely than not recognition threshold, the position is measured to determine the amount of benefit or expense to recognize in the financial statements. The Company’s income tax returns are subject to review and examination by federal, state and local governmental authorities. As of March 31, 2021, there is no year open to examination with federal, state and local governmental authorities. To the extent penalties and interest are incurred through an examination, they would be included in the income tax section of the statement of operations and comprehensive loss. Basic Income (Loss) Per Share The Company computes income (loss) per share in accordance with FASB ASC 260 “Earnings per Share”. 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 March 31, 2021 there were no potentially dilutive debt or equity instruments issued or outstanding. Comprehensive Income Comprehensive income is defined as all changes in stockholders’ equity, exclusive of transactions with owners, such as capital investments. Comprehensive income includes net income or loss, changes in certain assets and liabilities that are reported directly in equity such as translation adjustments on investments in foreign subsidiaries and unrealized gains (losses) on available-for-sale securities. As of March 31, 2021 were no differences between our comprehensive loss and net loss. Recent Accounting Pronouncements We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company.

COMMON STOCK

COMMON STOCK	9 Months Ended
	Mar. 31, 2021
COMMON STOCK
Note 4 - COMMON STOCK	The Company has 75,000,000, $0.0001 par value shares of common stock authorized. There were 5,000,000 shares of common stock issued and outstanding as of March 31, 2021. Voting Common Stock All shares of common stock have voting rights and are identical. All holders of shares of voting common stock shall at every meeting of the stockholders be entitled to one vote for each share of the capital stock held by such stockholder. Non-voting Common Stock All of the other terms of the Non-Voting Common Stock shall be identical to the Voting Common Stock, except for the right of first refusal that attaches to the Non-Voting Common Stock, as explained in the Company’s Bylaws.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Mar. 31, 2021
COMMITMENTS AND CONTINGENCIES
Note 5 - COMMITMENTS AND CONTINGENCIES	In the normal course of business, the Company may become a party to litigation matters involving claims against it. At March 31, 2021, there are no current matters that would have a material effect on the Company’s financial position or results of operations.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Mar. 31, 2021
SUBSEQUENT EVENTS
Note 6 - SUBSEQUENT EVENTS	In accordance with FASB ASC Topic 855 “Subsequent Events”, the Company has analyzed its operations through March 31, 2021, the date the financial statements were available to be issued, and there were no events to report. The extent of the impact of the coronavirus ("COVID-19") outbreak on the financial performance of the Company will depend on future developments, including the duration and spread of the outbreak and related advisories and restrictions and the impact of COVID-19 on the overall economy, all of which are highly uncertain and cannot be predicted. If the overall economy is impacted for an extended period, the Company’s future operating results may be materially adversely affected.

SUMMARY OF SIGNIFCANT ACCOUNT_2

SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Mar. 31, 2021
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES
Basis of presentation	The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America. The Company’s year-end is June 30, 2020.
Use of Estimates	The preparation of financial statements in conformity with US GAAP 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.
Fair Value of Financial Instruments	FASB ASC Topic 820, "Fair Value Measurement," The three levels are defined as follows: 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. Due to its short-term nature, the carrying value of cash, director loans and issuance of common stock approximated fair value at March 31, 2021.
Income Taxes	The Company is a C Corporation under the Internal Revenue Code and a similar section of the state code. All income tax amounts reflect the use of the liability method under accounting for income taxes. Income taxes are provided for the tax effects of transactions reported in the financial statements and consist of taxes currently due plus deferred taxes arising primarily from differences between financial and tax reporting purposes. Current year expense represents the amount of income taxes paid, payable or refundable for the period. Deferred income taxes, net of appropriate valuation allowances, are determined using the tax rates expected to be in effect when the taxes are actually paid. Valuation allowances are recorded against deferred tax assets when it is more likely than not that such assets will not be realized. When an uncertain tax position meets the more likely than not recognition threshold, the position is measured to determine the amount of benefit or expense to recognize in the financial statements. The Company’s income tax returns are subject to review and examination by federal, state and local governmental authorities. As of March 31, 2021, there is no year open to examination with federal, state and local governmental authorities. To the extent penalties and interest are incurred through an examination, they would be included in the income tax section of the statement of operations and comprehensive loss.
Basic Income (Loss) Per Share	The Company computes income (loss) per share in accordance with FASB ASC 260 “Earnings per Share”. 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 March 31, 2021 there were no potentially dilutive debt or equity instruments issued or outstanding.
Comprehensive Income	Comprehensive income is defined as all changes in stockholders’ equity, exclusive of transactions with owners, such as capital investments. Comprehensive income includes net income or loss, changes in certain assets and liabilities that are reported directly in equity such as translation adjustments on investments in foreign subsidiaries and unrealized gains (losses) on available-for-sale securities. As of March 31, 2021 were no differences between our comprehensive loss and net loss.
Recent Accounting Pronouncements	We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company.

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	Mar. 31, 2021	Jun. 30, 2020
GOING CONCERN
Accumulated deficit	$ (10,489)	$ (760)

COMMON STOCK (Details Narrative

COMMON STOCK (Details Narrative) - $ / shares	9 Months Ended
	Mar. 31, 2021	Jun. 30, 2020
COMMON STOCK
Common Stock, Par value	$ 0.001	$ 0.001
Common Stock, Shares authorized	75,000,000	75,000,000
Common Stock, Shares issued	5,000,000	5,000,000
Common Stock, Shares outstanding	5,000,000	5,000,000
Description of common stock voting rights	All holders of shares of voting common stock shall at every meeting of the stockholders be entitled to one vote for each share of the capital stock held by such stockholder.