Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2021 | Oct. 31, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Current Fiscal Year End Date | --12-31 | |
Document Period End Date | Sep. 30, 2021 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q3 | |
Document Transition Report | false | |
Entity File Number | 000-56282 | |
Entity Registrant Name | PEGASUS MEDICAL HOLDINGS, INC. | |
Entity Central Index Key | 0001861645 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 30-0791746 | |
Entity Address, Address Line One | 6647 Saint Andrews Cross, Unit D | |
Entity Address, City or Town | Liberty Township | |
Entity Address, State or Province | OH | |
Entity Address, Postal Zip Code | 45044 | |
City Area Code | 614 | |
Local Phone Number | 395-7778 | |
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 | |
Entity Ex Transition Period | false | |
Entity Shell Company | true | |
Entity Common Stock, Shares Outstanding | 1,000,840 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Current | ||
Cash | $ 19,199 | $ 43,514 |
Total Current Assets | 19,199 | 43,514 |
Total Assets | 19,199 | 43,514 |
Current | ||
Accounts payable and accrued liabilities | 7,172 | 172 |
Convertible promissory notes | 0 | 35,000 |
Total current liabilities | 7,172 | 35,172 |
Equity | ||
Shareholder's Equity | 250,210,000 | 250,175,000 |
Retained Earnings (Deficit) | (250,197,973) | (250,166,658) |
Total Equity | 12,027 | 8,342 |
Total Liabilities and Equity | $ 19,199 | $ 43,514 |
STATEMENT OF INCOME AND RETAINE
STATEMENT OF INCOME AND RETAINED EARNINGS - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Operating Expenses | ||||
Interest and bank charges | $ 360 | $ 360 | $ 1,080 | $ 1,130 |
Legal and professional fees | 500 | 0 | 30,235 | 0 |
Total Operating Expenses | 860 | 360 | 31,315 | 1,130 |
Income (Loss) from Operations | (860) | (360) | (31,315) | (1,130) |
Retained Earnings (Deficit) | (250,197,113) | (250,164,879) | (250,166,658) | (250,164,109) |
Retained Earnings (Deficit) | $ (250,197,973) | $ (250,165,239) | $ (250,197,973) | $ (250,165,239) |
CONSOLIDATED STATEMENT OF STOCK
CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) | Common Stock [Member] | Deficit [Member] | Total |
Beginning balance at Dec. 31, 2019 | $ 250,175,000 | $ (250,164,109) | $ 10,891 |
Beginning balance (in shares) at Dec. 31, 2019 | 1,000,700 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||
Net loss for the period | $ 0 | (1,130) | (1,130) |
Ending balance at Sep. 30, 2020 | $ 250,175,000 | (250,165,239) | 9,761 |
Ending balance (in shares) at Sep. 30, 2020 | 0 | ||
Beginning balance at Dec. 31, 2020 | $ 250,175,000 | (250,166,658) | 8,342 |
Beginning balance (in shares) at Dec. 31, 2020 | 1,000,700 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||
Shares issued for debt | $ 35,000 | 0 | 35,000 |
Shares issued for debt (in shares) | 140 | ||
Net loss for the period | $ 0 | (31,315) | (31,315) |
Ending balance at Sep. 30, 2021 | $ 250,210,000 | $ (250,197,973) | $ 12,027 |
Ending balance (in shares) at Sep. 30, 2021 | 1,000,840 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Operating activities: | ||||
Net loss for the period | $ (860) | $ (360) | $ (31,315) | $ (1,130) |
Changes in non-cash working capital: | ||||
Accounts payable and accrued liabilities | 7,000 | 15,882 | ||
Net cash used in operating activities | (24,315) | 14,752 | ||
Financing activities: | ||||
Shares issued for cash | 0 | 0 | ||
Net cash provided by financing activities | 0 | 0 | ||
Increase in cash | (24,315) | 14,752 | ||
Cash, beginning of the period | 43,514 | 29,122 | ||
Cash, end of the period | $ 19,199 | $ 43,874 | $ 19,199 | $ 43,874 |
Nature of Operations
Nature of Operations | 9 Months Ended |
Sep. 30, 2021 | |
Nature of Operations [Abstract] | |
Nature of Operations | 1. Nature of operations Pegasus Medical Holdings Inc. (the “Company”) was incorporated in the state of Delaware on December 20, 2018. The Company is engaged in the identification, financing and completion of asset or business acquisitions. The Company’s registered office is at 2711 Centerville Road, Suite 400, City of Wilmington 19808, County of New Castle, Delaware. The Company is currently privately held and plans to seek business opportunities, potentially inclusive of the pursuit of a public listing subject to shareholder approval and any regulatory consents. The Company’s ongoing operations are ultimately dependent upon the success of its business activities and its ability to attain profitable operations and generate funds therefrom and/or to raise equity capital or borrowings sufficient to meet current and future obligations. Management expects to finance operating costs over the next twelve months from public or private financing sources. The Company has no source of operating revenue, has incurred net losses since incorporation and as at September 30, 2021 has a deficit of $250,197,973 (December 31, 2020 $250,166,658). Its continued existence will be dependent on the receipt of related party debt or equity financing on terms which are acceptable to the Company. |
Significant Accounting Policies
Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2021 | |
Significant Accounting Policies [Abstract] | |
Significant Accounting Policies | 2. Significant Accounting Policies (a) Statement of Compliance and Basis of Preparation The financial statements have been prepared on an accrual basis and are based on historical cost basis, modified where applicable. These financial statements are presented in Canadian dollars, which is the Company’s functional and reporting currency. (b) Significant accounting estimates and judgements The preparation of the financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of financial statements and reported expenses during the period. Actual results could differ from those estimated. Estimates and judgements are continuously evaluated and are based on management’s experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. However, actual outcomes can differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which estimates are revised and in future periods affected. The preparation of these financial statements requires management to make judgements regarding the going concern of the Company, as discussed in Note 1. Significant estimates of the Company include the recognition of deferred tax assets and the value attributed to shares issued. The Company considers whether the realization of deferred tax assets is probable in determining whether or not to recognize these deferred tax assets. The Company is private with no quoted price for its stock and the fair value attributed is based on negotiations between parties. (c) Cash and cash equivalents Cash and cash equivalents consist of cash in banks and on hand, and short term deposits with an original maturity of three months or less, which are readily convertible into a known amount of cash. (d) Loss per share The Company presents basic and diluted loss per share data for its common shares, calculated by dividing the loss attributable to common shareholders of the Company by the weighted average number of common shares outstanding during the period. Diluted loss per share does not adjust the loss attributable to common shareholders or the weighted average number of common shares outstanding when the effect is non-dilutive. (e) Deferred listing costs Professional, consulting and regulatory fees as well as other costs directly attributable to listing costs are reported as deferred listing costs until the transaction is completed, if the completion of the transaction is considered to be more likely than not. Costs relating to listing transactions that are not completed, or for which successful completion is considered unlikely, are charged to operations. (f) Income taxes Income tax expense is comprised of current and deferred tax. Current tax and deferred tax are recognized in the statement of loss and comprehensive loss except to the extent that it relates to items recognized directly in equity or in other comprehensive income. Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the balance sheet date, and includes any adjustments to tax payable or receivable in respect of previous years. Deferred income taxes are recorded using the liability method whereby deferred tax is recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation. Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, based on the laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is not recognized for temporary differences which arise on the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting, nor taxable profit or loss. A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences, to the extent that it is probable that future taxable profits will be available against which they can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized. (g) Financial Instruments The Company classifies its financial instruments into one of the following categories: fair value through profit or loss (“FVTPL”) assets and liabilities, assets available-for-sale, loans and receivables, assets held-to-maturity and other financial liabilities. All financial instruments are measured at fair value on initial recognition. Measurement in subsequent periods depends on the classification of the financial instrument. Financial assets and liabilities classified as FVTPL are subsequently measured at fair value with changes in fair value recognized in the statement of loss and comprehensive loss. Financial assets designated as “available-for-sale” are subsequently measured at fair value with changes in fair value recognized in available-for-sale reserve, net of tax. Investments in equity instruments that do not have an active quoted market price and whose fair value cannot be reliably measured are measured at cost. Financial assets designated as held-to-maturity, loans and receivables, and other financial liabilities are recorded at amortized cost using the effective interest rate method. Transaction costs that are directly attributable to the acquisition or issue of financial assets or liabilities (other than those designated as FVTPL, which are expensed) are included in the initial carrying value of the financial instruments. (h) Impairment Non-financial assets The carrying amounts of the Company’s non-financial assets are reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication exists, then the asset’s recoverable amount is estimated. For the purpose of impairment testing, assets that cannot be tested individually are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or groups of assets (the “cash-generating unit,” or “CGU”). The recoverable amount of an asset of CGU is the greater of its value in use and its fair value less costs to sell. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. The Company’s corporate assets do not generate separate cash inflows. If there is an indication that a corporate asset may be impaired, then the recoverable amount is determined for the CGU to which the corporate asset belongs. An impairment loss is recognized if the carrying amount of an asset or its CGU exceeds its estimated recoverable amount. Impairment losses are recognized in profit or loss. Impairment losses recognized in prior periods are assessed at each reporting date for any indications that the loss has decreased or no longer exists. An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount. An impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortization, if no impairment loss had been recognized. Financial assets Financial assets, other than those carried at fair value through profit or loss, are assessed for indicators of impairment at each period end. Financial assets are impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been impacted. Objective evidence of impairment could include the following: • Significant financial difficulty of the issuer or counterparty • Default or delinquency in interest or principal payments • It has become probably that the borrower will enter bankruptcy or financial reorganization For financial assets carried at amortized cost, the amount of the impairment is the difference between the asset’s carrying amount and the present value of the estimated future cash flows, discounted at the financial asset’s original effective interest rate. The carrying amount of all financial assets, excluding accounts receivable, is directly reduced by the impairment loss. The carrying amount of accounts receivable is reduced through the use of an allowance account. When an account receivable is considered uncollectable, it is written off against the allowance account. Subsequent recoveries of amounts previously written off are credited against the allowance account. Changes in the carrying amount of the allowance account are recognized in profit or loss. For financial assets measured at amortized cost, if, in a subsequent period, the amount of the impairment loss decreases and the decrease can be related objectively to an event occurring after the impairment losses were recognized, the previously recognized impairment loss is reversed through profit or loss to the extent that the carrying amount of the asset at the date the impairment is reversed does not exceed what the amortized cost would have been had the impairment not been recognized. |
Share Capital
Share Capital | 9 Months Ended |
Sep. 30, 2021 | |
Share Capital [Abstract] | |
Share Capital | 3. Share Capital Authorized: The total number of shares of stock that the Company shall have authority to issue is 12,000,000, consisting of 12,000,000 shares of common stock, 0.00001 par value per share (the “ Common Stock Issued: i) At the inception of the Company in December 2018, the Company issued an aggregate of 1,000,000 restricted shares of its Common Stock to Richard C. Wheeless III as “founder” stock and in recognition of the related party’s management services. The fair value of shares was $250,000,000, and the difference $249,975,000 debited to share issue cost. ii) On May 31, 2019, the Company issued 700 common shares by converting convertible promissory notes of $175,000. Each share was valued at $250. iii) During the three months ended March 31, 2021, the Company issued 140 common shares by converting convertible promissory notes of $35,000. Each share was valued at $250. |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Sep. 30, 2021 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | 4. Related Party Transactions Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Related parties may be individuals or corporate entities. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties. Key management personnel include those persons having authority and responsibility for planning, directing and controlling the activities of the Company as a whole. The Company has determined that key management personnel consist of executive and non-executive members of the Company’s Board of Directors, and corporate officers. Accounts payable at September 30, 2021, includes $172 (September 30, 2020, $172) owed to the related parties in connection with expenses incurred on behalf of the Company. |
Financial Instruments
Financial Instruments | 9 Months Ended |
Sep. 30, 2021 | |
Financial Instruments [Abstract] | |
Financial Instruments | 5. Financial Instruments (a) Fair Values Assets measured at fair value on a recurring basis were presented on the Company’s statement of financial position as at September 30, 2021 as follows: Fair Value Measurements Using Quoted prices in active markets for identical instruments (Level 1) $ Significant other observable inputs (Level 2) $ Significant unobservable inputs (Level 3) $ Balance, September 30, 2021 $ Cash 19,199 - - 19,199 (b) Credit Risk The Company does not currently have any financial instruments that are potentially subject to credit risk. (c) Foreign Exchange Rate and Interest Rate Risk The Company is not exposed to any significant foreign exchange rate or interest rate risk. (d) Liquidity Risk Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they fall due. The Company currently settles its financial obligations out of cash. The ability to do this relies on the Company raising equity financing in a timely manner and by maintaining sufficient cash in excess of anticipated needs. |
Management of Capital
Management of Capital | 9 Months Ended |
Sep. 30, 2021 | |
Management of Capital [Abstract] | |
Management of Capital | 6. Management of Capital The Company’s objectives when managing capital are to safeguard the Company’s ability to continue as a going concern in order to fund its operations, so that it can provide returns for shareholders and benefits for other stakeholders. The Company does not have any externally imposed capital requirements to which it is subject. The Company considers the aggregate of its shareholders’ equity (deficiency) and debt as capital. The Company manages the capital structure and makes adjustments to it in light of changes in economic conditions and the risk characteristics of the underlying assets. To maintain or adjust the capital structure, the Company may attempt to issue new shares or dispose of assets or adjust the amount of cash |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2021 | |
Significant Accounting Policies [Abstract] | |
Statement of Compliance and Basis of Preparation | (a) Statement of Compliance and Basis of Preparation The financial statements have been prepared on an accrual basis and are based on historical cost basis, modified where applicable. These financial statements are presented in Canadian dollars, which is the Company’s functional and reporting currency. |
Significant accounting estimates and judgements | (b) Significant accounting estimates and judgements The preparation of the financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of financial statements and reported expenses during the period. Actual results could differ from those estimated. Estimates and judgements are continuously evaluated and are based on management’s experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. However, actual outcomes can differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which estimates are revised and in future periods affected. The preparation of these financial statements requires management to make judgements regarding the going concern of the Company, as discussed in Note 1. Significant estimates of the Company include the recognition of deferred tax assets and the value attributed to shares issued. The Company considers whether the realization of deferred tax assets is probable in determining whether or not to recognize these deferred tax assets. The Company is private with no quoted price for its stock and the fair value attributed is based on negotiations between parties. |
Cash and cash equivalents | (c) Cash and cash equivalents Cash and cash equivalents consist of cash in banks and on hand, and short term deposits with an original maturity of three months or less, which are readily convertible into a known amount of cash. |
Loss per share | (d) Loss per share The Company presents basic and diluted loss per share data for its common shares, calculated by dividing the loss attributable to common shareholders of the Company by the weighted average number of common shares outstanding during the period. Diluted loss per share does not adjust the loss attributable to common shareholders or the weighted average number of common shares outstanding when the effect is non-dilutive. |
Deferred listing costs | (e) Deferred listing costs Professional, consulting and regulatory fees as well as other costs directly attributable to listing costs are reported as deferred listing costs until the transaction is completed, if the completion of the transaction is considered to be more likely than not. Costs relating to listing transactions that are not completed, or for which successful completion is considered unlikely, are charged to operations. |
Income taxes | (f) Income taxes Income tax expense is comprised of current and deferred tax. Current tax and deferred tax are recognized in the statement of loss and comprehensive loss except to the extent that it relates to items recognized directly in equity or in other comprehensive income. Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the balance sheet date, and includes any adjustments to tax payable or receivable in respect of previous years. Deferred income taxes are recorded using the liability method whereby deferred tax is recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation. Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, based on the laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is not recognized for temporary differences which arise on the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting, nor taxable profit or loss. A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences, to the extent that it is probable that future taxable profits will be available against which they can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized. |
Financial Instruments | (g) Financial Instruments The Company classifies its financial instruments into one of the following categories: fair value through profit or loss (“FVTPL”) assets and liabilities, assets available-for-sale, loans and receivables, assets held-to-maturity and other financial liabilities. All financial instruments are measured at fair value on initial recognition. Measurement in subsequent periods depends on the classification of the financial instrument. Financial assets and liabilities classified as FVTPL are subsequently measured at fair value with changes in fair value recognized in the statement of loss and comprehensive loss. Financial assets designated as “available-for-sale” are subsequently measured at fair value with changes in fair value recognized in available-for-sale reserve, net of tax. Investments in equity instruments that do not have an active quoted market price and whose fair value cannot be reliably measured are measured at cost. Financial assets designated as held-to-maturity, loans and receivables, and other financial liabilities are recorded at amortized cost using the effective interest rate method. Transaction costs that are directly attributable to the acquisition or issue of financial assets or liabilities (other than those designated as FVTPL, which are expensed) are included in the initial carrying value of the financial instruments. |
Impairment | (h) Impairment Non-financial assets The carrying amounts of the Company’s non-financial assets are reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication exists, then the asset’s recoverable amount is estimated. For the purpose of impairment testing, assets that cannot be tested individually are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or groups of assets (the “cash-generating unit,” or “CGU”). The recoverable amount of an asset of CGU is the greater of its value in use and its fair value less costs to sell. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. The Company’s corporate assets do not generate separate cash inflows. If there is an indication that a corporate asset may be impaired, then the recoverable amount is determined for the CGU to which the corporate asset belongs. An impairment loss is recognized if the carrying amount of an asset or its CGU exceeds its estimated recoverable amount. Impairment losses are recognized in profit or loss. Impairment losses recognized in prior periods are assessed at each reporting date for any indications that the loss has decreased or no longer exists. An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount. An impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortization, if no impairment loss had been recognized. Financial assets Financial assets, other than those carried at fair value through profit or loss, are assessed for indicators of impairment at each period end. Financial assets are impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been impacted. Objective evidence of impairment could include the following: • Significant financial difficulty of the issuer or counterparty • Default or delinquency in interest or principal payments • It has become probably that the borrower will enter bankruptcy or financial reorganization For financial assets carried at amortized cost, the amount of the impairment is the difference between the asset’s carrying amount and the present value of the estimated future cash flows, discounted at the financial asset’s original effective interest rate. The carrying amount of all financial assets, excluding accounts receivable, is directly reduced by the impairment loss. The carrying amount of accounts receivable is reduced through the use of an allowance account. When an account receivable is considered uncollectable, it is written off against the allowance account. Subsequent recoveries of amounts previously written off are credited against the allowance account. Changes in the carrying amount of the allowance account are recognized in profit or loss. For financial assets measured at amortized cost, if, in a subsequent period, the amount of the impairment loss decreases and the decrease can be related objectively to an event occurring after the impairment losses were recognized, the previously recognized impairment loss is reversed through profit or loss to the extent that the carrying amount of the asset at the date the impairment is reversed does not exceed what the amortized cost would have been had the impairment not been recognized. |
Financial Instruments (Tables)
Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Financial Instruments [Abstract] | |
Assets Measured on Recurring Basis | Assets measured at fair value on a recurring basis were presented on the Company’s statement of financial position as at September 30, 2021 as follows: Fair Value Measurements Using Quoted prices in active markets for identical instruments (Level 1) $ Significant other observable inputs (Level 2) $ Significant unobservable inputs (Level 3) $ Balance, September 30, 2021 $ Cash 19,199 - - 19,199 |
Nature of Operations (Details)
Nature of Operations (Details) - USD ($) | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2019 |
Nature of Operations [Abstract] | ||||||
Retained Earnings (Deficit) | $ (250,197,973) | $ (250,197,113) | $ (250,166,658) | $ (250,165,239) | $ (250,164,879) | $ (250,164,109) |
Share Capital (Details)
Share Capital (Details) - USD ($) | 1 Months Ended | |||
Dec. 31, 2018 | Sep. 30, 2021 | Mar. 31, 2021 | May 31, 2019 | |
Stockholders' Equity [Abstract] | ||||
Common stock, shares authorized (in shares) | 12,000,000 | |||
Common stock, shares authorized but not issued (in shares) | 12,000,000 | |||
Common stock, par value (in dollars per share) | $ 0.00001 | |||
Founder Shares [Member] | ||||
Stockholders' Equity [Abstract] | ||||
Shares issued (in shares) | 1,000,000 | |||
Fair value of shares issued | $ 250,000,000 | |||
Stock issued value | $ 249,975,000 | |||
Promissory Note [Member] | ||||
Stockholders' Equity [Abstract] | ||||
Common stock, shares issued (in shares) | 140 | 700 | ||
Converting convertible promissory notes | $ 35,000 | $ 175,000 | ||
Sale price of share issued (in dollars per share) | $ 250 | $ 250 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) | Sep. 30, 2021 | Sep. 30, 2020 |
Related Party Transactions [Abstract] | ||
Accounts payable owed to related parties | $ 172 | $ 172 |
Financial Instruments (Details)
Financial Instruments (Details) - Recurring [Member] | Sep. 30, 2021USD ($) |
Assets [Abstract] | |
Cash | $ 19,199 |
Quoted Prices in Active Markets for Identical Instruments (Level 1) [Member] | |
Assets [Abstract] | |
Cash | 19,199 |
Significant Other Observable Inputs (Level 2) [Member] | |
Assets [Abstract] | |
Cash | 0 |
Significant Unobservable Inputs (Level 3) [Member] | |
Assets [Abstract] | |
Cash | $ 0 |