Sparx (SHGI) 10-Q 10 Nov 21 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Sep. 30, 2021	Nov. 10, 2021	Jun. 30, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--06-30
Entity File Number	000-56315
Entity Registrant Name	Prime Time Holdings, Inc.
Entity Central Index Key	0001874138
Entity Tax Identification Number	00-0000000
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	780 Reservoir Avenue #123
Entity Address, City or Town	Cranston
Entity Address, State or Province	RI
Entity Address, Postal Zip Code	02910
Local Phone Number	(Address of Principal Executive Offices)
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
common shares outstanding	178,750,031	178,750,031	0

Balance Sheet (Unaudited)

Balance Sheet (Unaudited) - USD ($)	Sep. 30, 2021	Jun. 30, 2021
Statement of Financial Position [Abstract]
TOTAL ASSETS
CURRENT LIABILITIES
Accrued Expenses	500	3,750
TOTAL LIABILITIES	500	3,750
Stockholders’ Equity (Deficit)
Preferred stock ($.0001 par value, 5,000,000 shares authorized; 0 issued and outstanding as of September 30, 2021 and June 30, 2021)
Common stock ($.0001 par value, 200,000,000 shares authorized,  178,750,031 and 0 issued and outstanding as of September 30, 2021 and June 30, 2021, respectively)	17,875
Additional paid-in capital	(12,883)	960
Accumulated deficit	(5,492)	(4,710)
Total Stockholders’ Equity (Deficit)	(500)	(3,750)
TOTAL LIABILITIES & STOCKHOLDERS’ EQUITY (DEFICIT)

Balance Sheet (Unaudited) (Pare

Balance Sheet (Unaudited) (Parenthetical)	Sep. 30, 2021$ / sharesshares
Statement of Financial Position [Abstract]
par value preferred stock | $ / shares	$ 0.0001
preferred shares authorized	5,000,000
preferred shares issued and outstanding	0
par value common stock | $ / shares	$ 0.0001
common stock authorized	200,000,000
common stock shares outstanding	178,750,031

Statement of Operations (Unaudi

Statement of Operations (Unaudited)	3 Months Ended
	Sep. 30, 2021USD ($)$ / sharesshares
Operating expenses
General and administrative expenses	$ 782
Total operating expenses	782
Net loss	$ (782)
Basic and Diluted net loss per common share | $ / shares	$ 0
Weighted average number of common shares outstanding - Basic and Diluted | shares	178,750,031

Statement of Changes in Stockho

Statement of Changes in Stockholders' Deficit (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balances, September 30, 2021
Balances, June 30, 2021 at Jun. 30, 2020
Expenses paid on behalf of the Company and contributed to capital		960
Net loss			(4,710)	(4,710)
Balances, June 30, 2021 at Jun. 30, 2020
Expenses paid on behalf of the Company and contributed to capital				4,992
Balances, September 30, 2021		960	(4,710)	(4,710)
Balances, June 30, 2021 at Jun. 30, 2021		960	(4,710)	(4,710)
Expenses paid on behalf of the Company and contributed to capital		4,032		4,032
Net loss			(782)	(782)
Common shares issued in reorganization	17,875	(17,875)
Common Shares issued in reorganization				178,750,031
Balances, September 30, 2021	$ 17,875	$ (12,883)	$ (5,492)	$ (500)

Statement of Cash Flows (Unaudi

Statement of Cash Flows (Unaudited) - USD ($)	3 Months Ended	12 Months Ended	15 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (782)	$ (4,710)
Adjustment to reconcile net loss to net cash used in operating activities:
Expenses contributed to capital	4,032		$ 4,992
Changes in current assets and liabilities:
Accrued expenses	(3,250)
Net cash used in operating activities
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 Descr

Note 1 - Organization and Description of Business	3 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Note 1 - Organization and Description of Business	Note 1 - Organization and Description of Business Prime Time Holdings, Inc. (we, us, our, or the "Company") was incorporated on June 30, 2021 in the State of Nevada. On June 30, 2021, Jeffrey DeNunzio was appointed Chief Executive Officer, Chief Financial Officer, and Director of Prime Time Holdings, Inc. On September 14, 2021, the Company entered into an “Agreement and Plan of Merger”, whereas it agreed to, and subsequently participated in, a Nevada holding company reorganization pursuant to NRS 92A.180, NRS 92A.200, NRS 92A.230 and NRS 92A.250 (“Reorganization”). The constituent corporations in the Reorganization were China Shouguan Investment Holding Group Corp. (“CHSO” or “Predecessor”), Prime Time Holdings, Inc. (“Successor”), and Prime Time Merger Sub, Inc. (“Merger Sub”). Our director is, and was, the sole director/officer of each constituent corporation in the Reorganization. Prime Time Holdings, Inc. issued 1,000 common shares of its common stock to Predecessor and Merger Sub issued 1,000 shares of its common stock to Prime Time Holdings, Inc. immediately prior to the Reorganization. As such, immediately prior to the merger, Prime Time Holdings, Inc. became a wholly owned direct subsidiary of China Shouguan Investment Holding Group Corp and Merger Sub became a wholly owned and direct subsidiary of Prime Time Holdings, Inc. Pursuant to the above, on September 15, 2021, Prime Time Holdings, Inc. filed Articles of Merger with the Nevada Secretary of State. The merger became effective on September 17, 2021 at 9:00 AM PST (“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 Prime Time Holdings, Inc.’s (“Successors”) common stock. At the Effective Time, Prime Time Holdings, Inc., as successor issuer to China Shouguan Investment Holding Group Corp. continued to trade in the OTC MarketPlace under the previous ticker symbol “CHSO” until the new ticker symbol “PRTM” for the Company was released into the OTC MarketPlace on September 21, 2021. The Company was given a new CUSIP Number by CUSIP Global Services for its common stock of 74167E103. Our Common Stock is quoted on the OTC Markets Group Inc.’s Pink® Open Market under the symbol “PRTM”. On September 17, 2021, after the completion of the Holding Company Reorganization, we cancelled all of the stock held in China Shouguan Investment Holding Group Corp. resulting in China Shouguan Investment Holding Group Corp. as a stand-alone company. Pursuant to the holding company merger agreement and effects of merger, all of the assets and liabilities, if any, remain with China Shouguan Investment Holding Group Corp. after the Reorganization. Jeffrey DeNunzio, the Director of China Shouguan Investment Holding Group Corp. did not discover any assets of China Shouguan Investment Holding Group Corp. from the time he was appointed Director until the completion of the Reorganization and subsequent separation of China Shouguan Investment Holding Group Corp. as a stand-alone company. The Company is a blank check company and intends to serve as a vehicle to affect an asset acquisition, merger, exchange of capital stock or other business combination with a domestic or foreign business. As of the date of this report, the Company had not yet commenced any such operations. Currently, NVC Holdings, LLC, a Wyoming LLC owned and controlled by Jeffrey DeNunzio and Thomas DeNunzio is our controlling shareholder, owning 150,000,000 common shares. The Company has been engaged in organizational efforts and obtaining initial financing. The Company was formed as a vehicle to pursue a business combination and has made no efforts thus far to identify a possible business combination with an active operating company. As a result, the Company has not conducted negotiations or entered into a letter of intent concerning any target business. As of September 30, 2021, the Company had not yet commenced any operations. The Company has elected June 30 th -F5- Table of Contents

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	3 Months Ended
	Sep. 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 in order 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 at September 30, 2021 and June 30, 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 September 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 September 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 The Company follows ASC 850, Related Party Disclosures, -F6- Table of Contents 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 September 30, 2021. The Company’s stock-based compensation for the periods ended September 30, 2021 and June 30, 2021 was $ 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
	Sep. 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.

Note 4 - Income Taxes

Note 4 - Income Taxes	3 Months Ended
	Sep. 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 September 30, 2021, the Company has incurred a net loss of approximately $5,492 which resulted in a net operating loss for income tax purposes. The loss results in a deferred tax asset of approximately $ 1,153

Note 5 - Commitments and Contin

Note 5 - Commitments and Contingencies	3 Months Ended
	Sep. 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
	Sep. 30, 2021
Equity [Abstract]
Note 6 - Shareholder Equity	Note 6 - Shareholder Equity Preferred Stock The authorized preferred stock of the Company consists of 5,000,000 Common Stock The authorized common stock of the Company consists of 200,000,000 178,750,031 0 Effective September 17, 2021, the Company reorganized and merged with China Shougan Investment Holding Group Corp (“CHSO”) whereas the outstanding common shares of CHSO became the outstanding shares of the Company (see Note 1). Additional Paid-In Capital The Company’s sole officer and director, Jeffrey DeNunzio, paid expenses on behalf of the company totaling $4,032 during the period ended September 30, 2021. The Company’s sole officer and director, Jeffrey DeNunzio, paid expenses on behalf of the company totaling $960 during the period ended June 30, 2021. The $ 4,992

Note 7 - Related-Party Transact

Note 7 - Related-Party Transactions	3 Months Ended
	Sep. 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
	Sep. 30, 2021
Subsequent Events [Abstract]
Note 8 - Subsequent Events	Note 8 - Subsequent Events Management has reviewed financial transactions for the Company subsequent to the period ended September 30, 2021 and has found that there was nothing material to disclose.

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Sep. 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 in order 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 at September 30, 2021 and June 30, 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 September 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 September 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, -F6- Table of Contents
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 September 30, 2021. The Company’s stock-based compensation for the periods ended September 30, 2021 and June 30, 2021 was $ 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 Significa_3

Note 2 - Summary of Significant Accounting Policies (Details Narrative) - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2021	Jun. 30, 2021
Accounting Policies [Abstract]
Cash and cash equivalents	$ 0	$ 0
Share based compensation	$ 0	$ 0

Note 4 - Income Taxes (Details

Note 4 - Income Taxes (Details Narrative)	Sep. 30, 2021USD ($)
Income Tax Disclosure [Abstract]
Deferred tax asset	$ 1,153

Note 6 - Shareholder Equity (De

Note 6 - Shareholder Equity (Details Narrative) - USD ($)	3 Months Ended	12 Months Ended	15 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2021	Nov. 10, 2021
Equity [Abstract]
preferred stock authorized	5,000,000	5,000,000	5,000,000
common stock authorized	200,000,000	200,000,000	200,000,000
common stock issued and outstanding	178,750,031	0	178,750,031	178,750,031
contributions to the company	$ 4,032		$ 4,992

Uncategorized Items - prtm_10qo

Label	Element	Value
Common Stock, Shares, Outstanding	us-gaap_CommonStockSharesOutstanding	178,750,031