Japan Food Tech (JFTH) 10-Q 23 Aug 21 2022 Q1 Quarterly report Financial data

Cover

Cover	3 Months Ended
	Jun. 30, 2021
Entity Addresses [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--03-31
Entity File Number	000-56277
Catapult Solutions, Inc.	CATAPULT SOLUTIONS, Inc.
Entity Central Index Key	0001857910
Entity Tax Identification Number	00-0000000
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	3F K’s Minamiaoyama
Entity Address, Address Line Two	6-6-20 Minamiaoyama
Entity Address, Address Line Three	Minato-ku
Entity Address, Postal Zip Code	107-0062
Local Phone Number	81-90-6002-4978
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	true
Former Address [Member]
Entity Addresses [Line Items]
Entity Address, Address Line One	780 Reservoir Avenue
Entity Address, Address Line Two	#123
Entity Address, City or Town	Cranston
Entity Address, State or Province	RI
Entity Address, Postal Zip Code	02910

Balance Sheet (June 30, 2021 -

Balance Sheet (June 30, 2021 - Unaudited) - USD ($)	Jun. 30, 2021	Mar. 31, 2021
Statement of Financial Position [Abstract]
TOTAL ASSETS
CURRENT LIABILITIES
Accrued Expenses	1,925	3,750
TOTAL LIABILITIES	1,925	3,750
Stockholders’ Equity (Deficit)
preferred stock value	1
common stock value	231,528
Additional paid-in capital	775,731	2,010
Accumulated deficit	(1,009,185)	(5,760)
Total Stockholders’ Equity (Deficit)	(1,925)	(3,750)
TOTAL LIABILITIES & STOCKHOLDERS’ EQUITY (DEFICIT)

Balance Sheet (June 30, 2021 _2

Balance Sheet (June 30, 2021 - Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2021	Mar. 31, 2021
Statement of Financial Position [Abstract]
Preferred Stock, Par or Stated Value Per Share	$ 0.0001
Preferred Stock, Shares Authorized	20,000,000
Preferred Stock, Shares Issued	10,000	0
Common Stock, Par or Stated Value Per Share	$ 0.0001
Common Stock, Shares Authorized	2,400,000,000
Common Stock, Shares, Issued	2,315,276,582	0

Statement of Operations (Unaudi

Statement of Operations (Unaudited)	3 Months Ended
	Jun. 30, 2021USD ($)$ / sharesshares
Income Statement [Abstract]
General and administrative expenses	$ 1,003,425
Total operating expenses	1,003,425
Net loss	$ (1,003,425)
Basic and Diluted net loss per common share | $ / shares	$ 0
Weighted average number of common shares outstanding - Basic and Diluted | shares	1,628,326,387

Statement of Changes in Stockho

Statement of Changes in Stockholders Equity/Deficit (Unaudited) - USD ($)	Common Stock [Member]	Preferred Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balances, June 30, 2021
Balances, March 31, 2021 at Feb. 26, 2021
Expenses paid on behalf of the Company and contributed to capital			2,010		2,010
Net loss				(5,760)	(5,760)
Balances, June 30, 2021			2,010	(5,760)	(3,750)
Balances, March 31, 2021 at Mar. 31, 2021			2,010	(5,760)	(3,750)
Expenses paid on behalf of the Company and contributed to capital			5,250		5,250
Net loss				(1,003,425)	(1,003,425)
Common shares issued after reorganization	231,528		(231,528)
Series Z preferred shares issued after reorganization		1	999,999		1,000,000
Balances, June 30, 2021	$ 231,528	$ 1	$ 775,731	$ (1,009,185)	$ (1,925)

Statement of Cash Flows (Unaudi

Statement of Cash Flows (Unaudited)	3 Months Ended
	Jun. 30, 2021USD ($)
Statement of Cash Flows [Abstract]
Net loss	$ (1,003,425)
Common stock issued
Preferred stock issued	1,000,000
Changes in current assets and liabilities:
Accrued expenses	(1,825)
Net cash used in operating activities	(5,250)
CASH FLOWS FROM FINANCING ACTIVITIES
Expenses contributed to capital	5,250
Net cash used in financing activities	5,250
Net change in cash
Beginning cash balance
Ending cash balance
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest paid
Income taxes paid

Note 1 Organization and Descrip

Note 1 Organization and Description of Business	3 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Note 1 Organization and Description of Business	Note 1 Organization and Description of Business Catapult Solutions, Inc. (we, us, our, the "Company" or the "Registrant") was incorporated in the State of Nevada on February 26, 2021. On February 26, 2021, Jeffrey DeNunzio was appointed Chief Executive Officer, Chief Financial Officer, and Director of Catapult Solutions, Inc. The Company was created for the sole purpose of participating in a Nevada holding company reorganization pursuant to NRS 92A.180, NRS 92A.200, NRS 92A.230 and NRS 92A.250. The constituent corporations in the Reorganization were Ambient Water Corporation (“AWGI” or “Predecessor”), Catapult Solutions, Inc. (“Successor”), and Catapult Merger Sub, Inc. (“Merger Sub”). Our director is, and was, the sole director/officer of each constituent corporation in the anticipated Reorganization. Catapult Solutions, Inc. issued 1,000 common shares of its common stock to Predecessor and Merger Sub issued 1,000 shares of its common stock to Catapult Solutions, Inc. immediately prior to the Reorganization. As such, immediately prior to the merger, Catapult Solutions, Inc. became a wholly owned direct subsidiary of Ambient Water Corporation and Merger Sub became a wholly owned and direct subsidiary of Catapult Solutions, Inc. Pursuant to the above, on April 23, 2021, Ambient Water Corporation filed Articles of Merger with the Nevada Secretary of State. The merger became effective on April 28, 2021, at 4:00 PM EST (“Effective Time”). At the Effective Time, Predecessor was merged with and into Merger Sub (the “Merger), and Predecessor became the surviving corporation. Each share of Predecessor common stock issued and outstanding immediately prior to the Effective Time was converted into one validly issued, fully paid and non-assessable share of Catapult Solutions, Inc.’s common stock. At the time of the merger, 10,000 shares of Series Z Preferred Stock were issued to CRS Consulting, LLC, a Wyoming LLC owned and controlled by Jeffrey DeNunzio, Thomas DeNunzio and Paul Moody, for services rendered to the Company. Series Z Preferred Stock has no conversion rights to any other class, and every vote of Series Z Preferred Stock has voting rights equal to 1,000,000 votes of Common Stock. On July 20, 2021, the Company entered into a Share Purchase Agreement (the “Agreement”) by and among CRS Consulting, LLC, a Wyoming Limited Liability Company (“CRS”), White Knight Co., Ltd., a Japan Company (“WKC”), and Next Meats Holdings, Inc., a Nevada Company (“NXMH”), pursuant to which, on July 23, 2021, (“Closing Date”), CRS sold 10,000 shares of the Company’s Series Z Preferred Stock, representing approximately 81.20% voting control of the Company; 5,000 shares of Series Z Preferred Stock were transferred to WKC and 5,000 shares of Series Z Preferred Stock were transferred to NXMH. WKC and NXMH paid consideration of three hundred seventy-five thousand dollars ($375,000) (the “Purchase Price”). The consummation of the transactions contemplated by the Agreement resulted in a change in control of the Company, with WKC and NXMH, becoming the Company’s largest controlling stockholders. On the Closing Date, July 23, 2021, Mr. Jeffrey DeNunzio resigned as the Company’s Chief Executive Officer, Chief Financial Officer, President, Secretary, Treasurer. In addition, Mr. DeNunzio resigned as Director on the Closing Date and his resignation is effective upon the 10th day after the mailing of the Company’s information statement on Schedule 14f-1 to the Company’s stockholders. On the Closing Date, Mr. Koichi Ishizuka was appointed as the Company’s Chief Executive Officer, Chief Financial Officer, President, Secretary, Treasurer, and Director. Mr. Ishizuka’s appointment as Director is to be effective upon the 10th day after the mailing of the Company’s information statement on Schedule 14f-1 to the Company’s stockholders. As of June 30, 2021, the Company had not yet commenced any operations. The Company has elected March 31st as its year end.

Note 2 Summary of Significant A

Note 2 Summary of Significant Accounting Policies	3 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Note 2 Summary of Significant Accounting Policies	Note 2 Summary of Significant Accounting Policies Basis of Presentation This summary of significant accounting policies is presented to assist in understanding the Company's financial statements. These accounting policies conform to accounting principles, generally accepted in the United States of America, and have been consistently applied in the preparation of the financial statements. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles 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 of the financial statements and the reported amounts of revenues and expenses during the reporting period. In the opinion of management, all adjustments necessary to make the financial statements not misleading have been included. Actual results could differ from those estimates. 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. Cash and cash equivalents on June 30, 2021, and March 31, 2021, were $ 0 Income Taxes The Company accounts for income taxes under ASC 740, “ Income Taxes 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 June 30, 2021, and, thus, anti-dilution issues are not applicable. 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 - Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. - Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. - Level 3 - Inputs that are both significant to the fair value measurement and unobservable. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of June 30, 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 accrued expenses. F-5 Table of Contents Related Parties The Company follows ASC 850, Related Party Disclosures, 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 had no stock-based compensation plans as of June 30, 2021, and March 31, 2021. The Company’s stock-based compensation for the periods ended June 30, 2021, and March 31, 2021, was $ 1,000,000 0 Recently Issued Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). ASU 2016-02 We have no assets and or leases and do not believe we will be impacted in the foreseeable future by the newly adopted accounting standard(s) mentioned above. 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.

Note 3 Going Concern

Note 3 Going Concern	3 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Note 3 Going Concern	Note 3 Going Concern The Company’s financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern that contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company demonstrates adverse conditions that raise substantial doubt about the Company's ability to continue as a going concern for one year following the issuance of these financial statements. These adverse conditions are negative financial trends, specifically operating loss, working capital deficiency, and other adverse key financial ratios. The Company has not established any source of revenue to cover its operating costs. Management plans to fund operating expenses with related party contributions to capital. There is no assurance that management's plan will be successful. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary in the event that the Company cannot continue as a going concern. F-6 Table of Contents

Note 4 Income Taxes

Note 4 Income Taxes	3 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Note 4 Income Taxes	Note 4 Income Taxes The Company has not recognized an income tax benefit for its operating losses generated based on uncertainties concerning its ability to generate taxable income in future periods. The tax benefit for the period presented is offset by a valuation allowance established against deferred tax assets arising from the net operating losses, the realization of which could not be considered more likely than not. In future periods, tax benefits and related deferred tax assets will be recognized when management considers realization of such amounts to be more likely than not. As of June 30, 2021, the Company has incurred a net loss of approximately $ 1,009,185 211,929

Note 5 Commitments and Continge

Note 5 Commitments and Contingencies	3 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Note 5 Commitments and Contingencies	Note 5 Commitments and Contingencies The Company follows ASC 450-20, Los Contingencies,

Note 6 Shareholder Equity

Note 6 Shareholder Equity	3 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Note 6 Shareholder Equity	Note 6 Shareholder Equity Preferred Stock The authorized preferred stock of the Company consists of 20,000,000 0.0001 10,000 0 At the time of the reorganization, April 28, 2021, 10,000 Common Stock The authorized common stock of the Company consists of 2,400,000,000 0.0001 2,315,276,582 0 At the time of reorganization, April 28, 2021, former shareholders of Ambient Water Corporation became shareholders of Catapult Solutions, Inc., representing all the common shares outstanding. Additional Paid-In Capital The Company’s former sole officer and director, Jeffrey DeNunzio, paid expenses on behalf of the company totaling $ 5,250 The Company’s former sole officer and director, Jeffrey DeNunzio, paid expenses on behalf of the company totaling $ 2,010 The $ 7,260

Note 7 Related-Party Transactio

Note 7 Related-Party Transactions	3 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
Note 7 Related-Party Transactions	Note 7 Related-Party Transactions Office Space We utilize the home office space and equipment of our management at no cost.

Note 8 Subsequent Events

Note 8 Subsequent Events	3 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
Note 8 Subsequent Events	Note 8 Subsequent Events Management has reviewed financial transactions for the Company subsequent to the fiscal quarter ended June 30, 2021 and has found that there was nothing material to disclose.

Note 2 Summary of Significant_2

Note 2 Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation This summary of significant accounting policies is presented to assist in understanding the Company's financial statements. These accounting policies conform to accounting principles, generally accepted in the United States of America, and have been consistently applied in the preparation of the financial statements.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles 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 of the financial statements and the reported amounts of revenues and expenses during the reporting period. In the opinion of management, all adjustments necessary to make the financial statements not misleading have been included. Actual results could differ from those estimates.
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. Cash and cash equivalents on June 30, 2021, and March 31, 2021, were $ 0
Income Taxes	Income Taxes The Company accounts for income taxes under ASC 740, “ Income Taxes
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 June 30, 2021, and, thus, anti-dilution issues are not applicable.
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 - Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. - Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. - Level 3 - Inputs that are both significant to the fair value measurement and unobservable. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of June 30, 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 accrued expenses.
Related Parties	Related Parties The Company follows ASC 850, Related Party Disclosures,
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 had no stock-based compensation plans as of June 30, 2021, and March 31, 2021. The Company’s stock-based compensation for the periods ended June 30, 2021, and March 31, 2021, was $ 1,000,000 0
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). ASU 2016-02 We have no assets and or leases and do not believe we will be impacted in the foreseeable future by the newly adopted accounting standard(s) mentioned above. 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.

Note 2 Summary of Significant_3

Note 2 Summary of Significant Accounting Policies (Details Narrative) - USD ($)	Jun. 30, 2021	Mar. 31, 2021
Accounting Policies [Abstract]
Cash and cash equivalents	$ 0	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	$ 1,000,000	$ 0

Note 4 Income Taxes (Details Na

Note 4 Income Taxes (Details Narrative)	Jun. 30, 2021USD ($)
Income Tax Disclosure [Abstract]
Net loss as of	$ 1,009,185
Deferred tax asset	$ 211,929

Note 6 Shareholder Equity (Deta

Note 6 Shareholder Equity (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended
	Mar. 31, 2021	Jun. 30, 2021	Apr. 28, 2021
Equity [Abstract]
[custom:Preferredsharesasof-0]		20,000,000
preferred par value as of June 30, 2021		$ 0.0001
preferred shares as of March 31, 2021	0	10,000
preferred shares issued on April 28, 2021			10,000
common shares authorized as of June 30, 2021		2,400,000,000
[custom:Commonparvalueasof-0]		$ 0.0001
Common shares outstanding as of March 31, 2021	0	2,315,276,582
Expenses paid by former officer during period	$ 2,010	$ 5,250
total paid by officer as of June 30, 2021		$ 7,260