Incordex (ICDX) 10-Q 14 Jun 23 2023 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Mar. 31, 2023	Jun. 14, 2023
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, 2023
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2023
Entity Ex Transition Period	true
Entity Common Stock Shares Outstanding		6,450,000
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	333-248609
Entity Incorporation State Country Code	NV
Entity Tax Identification Number	98-1541457
Entity Address Address Line 1	6 Rosemary Way
Entity Address City Or Town	Nuneaton
Entity Address Country	GB
Entity Address Postal Zip Code	CV10 7ST
Country Region	44
City Area Code	203
Local Phone Number	99-11-252
Entity Interactive Data Current	Yes
Security 12b Title	Common Stock: $0.001

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Mar. 31, 2023	Jun. 30, 2022
Current Asset
Cash	$ 5,555	$ 9,555
Prepaid Expenses	4,800	4,800
Total Current Assets	10,355	14,355
Fixed assets
Website purchase	2,504	3,752
Total Fixed Assets	2,504	3,752
Total Assets	12,859	18,107
Long term Liabilities
Director loan	7,314	7,314
Total Liabilities	7,314	7,314
Stockholders' Equity
Common stock, par value $0.001; 75,000,000 shares authorized, 6,450,000 and 6,450,000 shares issued and outstanding	6,450	6,450
Additional paid in capital	27,550	27,550
Accumulated deficit	(28,455)	(23,207)
Total Stockholders' Equity	5,545	10,793
Total Liabilities and Stockholders' Equity	$ 12,859	$ 18,107

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2021
STOCKHOLDER'S EQUITY
Common Stock, Par value	$ 0.001	$ 0.0001
Common Stock, Shares authorized	75,000,000	75,000,000
Common Stock, Shares issued	6,450,000	6,450,000	5,500,000
Common Stock, Shares outstanding	6,450,000	6,450,000	5,500,000

STATEMENTS OF OPERATIONS (Unaud

STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
STATEMENTS OF OPERATIONS (Unaudited)
REVENUES (services rendered)	$ 0	$ 5,000	$ 0	$ 5,000
OPERATING EXPENSES
General and Administrative Expenses	464	3,900	5,248	13,500
TOTAL OPERATING EXPENSES	(464)	(3,900)	(5,248)	(13,500)
NET INCOME (LOSS) FROM OPERATIONS	(464)	1,100	(5,248)	(8,500)
PROVISION FOR INCOME TAXES	0	0	0	0
NET PROFIT/LOSS	$ (464)	$ 1,100	$ (5,248)	$ (8,500)
NET LOSS PER SHARE: BASIC AND DILUTED	$ 0	$ 0	$ 0	$ 0
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	6,450,000	6,450,000	6,450,000	6,345,326

STATEMENTS OF CHANGES IN STOCKH

STATEMENTS OF CHANGES IN STOCKHOLDERS EQUITY (Unaudited) - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Deficit [Member]
Balance, shares at Jun. 30, 2021		5,500,000
Balance, amount at Jun. 30, 2021	$ 6,680	$ 5,500	$ 9,500	$ (8,320)
Shares issued for cash at $0.02 per share, shares		950,000
Shares issued for cash at $0.02 per share, amount	19,000	$ 950	18,050	0
Net loss	(6,758)	$ 0	0	(6,758)
Balance, shares at Sep. 30, 2021		6,450,000
Balance, amount at Sep. 30, 2021	18,922	$ 6,450	27,550	(15,078)
Balance, shares at Jun. 30, 2021		5,500,000
Balance, amount at Jun. 30, 2021	6,680	$ 5,500	9,500	(8,320)
Net loss	(8,500)
Balance, shares at Mar. 31, 2022		6,450,000
Balance, amount at Mar. 31, 2022	17,180	$ 6,450	27,550	(16,820)
Balance, shares at Sep. 30, 2021		6,450,000
Balance, amount at Sep. 30, 2021	18,922	$ 6,450	27,550	(15,078)
Net loss	(2,842)	$ 0	0	(2,842)
Balance, shares at Dec. 31, 2021		6,450,000
Balance, amount at Dec. 31, 2021	16,080	$ 6,450	27,550	(17,920)
Net loss	1,100	$ 0	0	1,100
Balance, shares at Mar. 31, 2022		6,450,000
Balance, amount at Mar. 31, 2022	17,180	$ 6,450	27,550	(16,820)
Balance, shares at Jun. 30, 2022		6,450,000
Balance, amount at Jun. 30, 2022	10,793	$ 6,450	27,550	(23,207)
Net loss	(1,014)	$ 0	0	(1,014)
Balance, shares at Sep. 30, 2022		6,450,000
Balance, amount at Sep. 30, 2022	9,779	$ 6,450	27,550	(24,221)
Balance, shares at Jun. 30, 2022		6,450,000
Balance, amount at Jun. 30, 2022	10,793	$ 6,450	27,550	(23,207)
Net loss	(5,248)
Balance, shares at Mar. 31, 2023		6,450,000
Balance, amount at Mar. 31, 2023	5,545	$ 6,450	27,550	(28,455)
Balance, shares at Sep. 30, 2022		6,450,000
Balance, amount at Sep. 30, 2022	9,779	$ 6,450	27,550	(24,221)
Net loss	(3,770)	$ 0	0	(3,770)
Balance, shares at Dec. 31, 2022		6,450,000
Balance, amount at Dec. 31, 2022	6,009	$ 6,450	27,550	(27,991)
Net loss	(464)	$ 0	0	(464)
Balance, shares at Mar. 31, 2023		6,450,000
Balance, amount at Mar. 31, 2023	$ 5,545	$ 6,450	$ 27,550	$ (28,455)

STATEMENTS OF CASH FLOWS (Unaud

STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss for the period	$ (5,248)	$ (8,500)
Adjustments to reconcile net loss to net cash from operating activities:
Accumulated Depreciation	1,248	832
Accounts Payable	0	(2,250)
CASH FLOWS USED IN OPERATING ACTIVITIES	(4,000)	(9,918)
CASH FLOWS FROM INVESTING ACTIVITIES
Website purchase	0	(5,000)
CASH FLOWS USED IN INVESTING ACTIVITIES	0	(5,000)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from sale of common stock	0	19,000
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES	0	19,000
NET CHANGE IN CASH	(4,000)	4,082
Cash, beginning of period	9,555	16,244
Cash, end of period	5,555	20,326
SUPPLEMENTAL CASH FLOW INFORMATION:
Interest paid	0	0
Income taxes paid	$ 0	$ 0

ORGANIZATION AND NATURE OF BUSI

ORGANIZATION AND NATURE OF BUSINESS	9 Months Ended
	Mar. 31, 2023
ORGANIZATION AND NATURE OF BUSINESS
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, 2023
GOING CONCERN
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 $28,455 as of March 31, 2023. 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, 2023
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES	Note 3 – SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES Basis of presentation The accompanying unaudited condensed financial statements have been prepared in accordance with the rules and regulations (Regulation S-X) of the Securities and Exchange Commission (the “SEC”) and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The results of operations for the nine months ended March 31, 2023 and 2022 are not necessarily indicative of the operating results that may be expected for the year ending June 30, 2023. These unaudited condensed financial statements should be read in conjunction with the June 30, 2022, financial statements and notes thereto. 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. 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, 2023, 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, 2023 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, 2023 were no differences between our comprehensive loss and net loss. Revenue Recognition The Company recognizes revenue in accordance with Accounting Standards Codification (“ASC”) 606, “Revenue from Contracts with Customers”. The core principle of ASC 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. An entity recognizes revenue in accordance with that core principle by applying the following steps: Step 1: Identify the contract(s) with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. Specifically, Section 606-10-50 requires an entity to provide information about: a. Revenue recognized from contracts with customers, including the disaggregation of revenue into appropriate categories; b. Contract balances, including the opening and closing balances of receivables, contract assets, and contract liabilities; c. Performance obligations, including when the entity typically satisfies its performance obligations and the transaction price that is allocated to the remaining performance obligations in a contract; d. Significant judgments, and changes in judgments, made in applying the requirements to those contracts. For the nine months ended March 31, 2023, the Company has generated $0 in revenue. 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.

INTANGIBLE ASSETS

INTANGIBLE ASSETS	9 Months Ended
	Mar. 31, 2023
INTANGIBLE ASSETS
INTANGIBLE ASSETS	Note 4 – INTANGIBLE ASSETS The Company purchased and possesses an asset in a form of an operative website. The Company purchased the website for $5,000 and is amortizing the asset straight-line over its three year useful life or $1,664 per year. For the nine months ended March 31, 2023 our amortization expense was $1,248. As of March 31, 2023 our depreciated amortization was $2,496.

COMMON STOCK

COMMON STOCK	9 Months Ended
	Mar. 31, 2023
COMMON STOCK
COMMON STOCK	Note 5– COMMON STOCK The Company has 75,000,000, $0.001 par value shares of common stock authorized. There were 5,500,000 shares of common stock issued and outstanding as of June 30, 2021. In July, and August 2021 the Company issued 950,000 common shares at $0.02 for total of $19,000. There were 6,450,000 shares of common stock issued and outstanding as of March 31, 2023 and June 30, 2022. 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, 2023
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	Note 6 – COMMITMENTS AND CONTINGENCIES In the normal course of business, the Company may become a party to litigation matters involving claims against it. As of March 31, 2023, there are no current matters that would have a material effect on the Company’s financial position or results of operations. 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.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Mar. 31, 2023
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	Note 7 – SUBSEQUENT EVENTS In accordance with FASB ASC Topic 855 “Subsequent Events”, the Company has analyzed its operations through June 14, 2023 and the date these financial statements were available to be issued, and there were no events to report.

SUMMARY OF SIGNIFCANT ACCOUNT_2

SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Mar. 31, 2023
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES
Basis of presentation	The accompanying unaudited condensed financial statements have been prepared in accordance with the rules and regulations (Regulation S-X) of the Securities and Exchange Commission (the “SEC”) and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The results of operations for the nine months ended March 31, 2023 and 2022 are not necessarily indicative of the operating results that may be expected for the year ending June 30, 2023. These unaudited condensed financial statements should be read in conjunction with the June 30, 2022, financial statements and notes thereto.
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.
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, 2023, 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, 2023 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, 2023 were no differences between our comprehensive loss and net loss.
Revenue Recognition	The Company recognizes revenue in accordance with Accounting Standards Codification (“ASC”) 606, “Revenue from Contracts with Customers”. The core principle of ASC 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. An entity recognizes revenue in accordance with that core principle by applying the following steps: Step 1: Identify the contract(s) with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. Specifically, Section 606-10-50 requires an entity to provide information about: a. Revenue recognized from contracts with customers, including the disaggregation of revenue into appropriate categories; b. Contract balances, including the opening and closing balances of receivables, contract assets, and contract liabilities; c. Performance obligations, including when the entity typically satisfies its performance obligations and the transaction price that is allocated to the remaining performance obligations in a contract; d. Significant judgments, and changes in judgments, made in applying the requirements to those contracts. For the nine months ended March 31, 2023, the Company has generated $0 in revenue.
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, 2023	Jun. 30, 2022
GOING CONCERN
Accumulated deficit	$ (28,455)	$ (23,207)

SUMMARY OF SIGNIFCANT ACCOUNT_3

SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES
Revenue	$ 0	$ 5,000	$ 0	$ 5,000

INTANGIBLE ASSETS (Details Narr

INTANGIBLE ASSETS (Details Narrative)	9 Months Ended
	Mar. 31, 2023 USD ($)
INTANGIBLE ASSETS
Amortization Expense	$ 1,248
Accumulated amortization	$ 2,496
Intangible Asset Description	over its three year useful life or $1,664 per year
Website Purchase	$ 5,000

COMMON STOCK (Details Narrative

COMMON STOCK (Details Narrative) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2021
Common Stock Value Issued During Period, value	$ 19,000
Common Stock, Par Value		$ 0.001	$ 0.0001
Common Stock, Shares Authorized		75,000,000	75,000,000
Common Stock, Shares Issued		6,450,000	6,450,000	5,500,000
Common Stock, Shares Outstanding		6,450,000	6,450,000	5,500,000
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
Common Shares [Member]
Common Stock Value Issued During Period, shares		950,000
Common Stock Price Per Share		$ 0.02
Common Stock Value Issued During Period, value		$ 19,000