C2 Blockchain (CBLO) 10-Q 30 Oct 23 2024 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Sep. 30, 2023	Oct. 30, 2023	Sep. 30, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--06-30
Entity File Number	000-56340
Entity Registrant Name	C2 Blockchain,Inc.
Entity Central Index Key	0001882781
Entity Tax Identification Number	00-0000000
Entity Incorporation, State or Country Code	NV
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
Shares outstanding	253,936,005	253,936,005	253,936,005

Balance Sheet (Unaudited)

Balance Sheet (Unaudited) - USD ($)	Sep. 30, 2023	Jun. 30, 2023
Statement of Financial Position [Abstract]
TOTAL ASSETS
CURRENT LIABILITIES
Loan to Company - related party	40,714	31,164
TOTAL LIABILITIES	40,714	31,164
Stockholders’ Equity (Deficit)
Preferred stock ($.001 par value, 20,000,000 shares authorized; none issued and outstanding as of September 30, 2023 and June 30, 2023)
Common stock ($.001 par value, 500,000,000 shares authorized, 253,936,005 shares issued and outstanding as of September 30, 2023 and June 30, 2023)	253,936	253,936
Additional paid-in capital	(252,601)	(252,601)
Accumulated deficit	(42,049)	(32,499)
Total Stockholders’ Equity (Deficit)	(40,714)	(31,164)
TOTAL LIABILITIES & STOCKHOLDERS’ EQUITY (DEFICIT)

Balance Sheet (Unaudited) (Pare

Balance Sheet (Unaudited) (Parenthetical)	Sep. 30, 2023 $ / shares shares
Statement of Financial Position [Abstract]
Preferred Stock, Par or Stated Value Per Share | $ / shares	$ 0.001
Preferred Stock, Shares Authorized	20,000,000
Common Stock, Par or Stated Value Per Share | $ / shares	$ 0.001
Common Stock, Shares Authorized	500,000,000
Common Stock, Shares, Issued	253,936,005

Statement of Operations (Unaudi

Statement of Operations (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Operating expenses
General and administrative expenses	$ 9,550	$ 4,869
Total operating expenses	9,550	4,869
Net loss	$ (9,550)	$ (4,869)
Basic and Diluted net loss per common share	$ 0	$ 0
Weighted average number of common shares outstanding - Basic and Diluted	253,936,005	253,936,005

Statement of Changes in Stockho

Statement of Changes in Stockholder (Deficit) (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance, value	$ 253,936	$ (252,601)	$ (13,992)	$ (12,657)
Beginning balance, value at Jun. 30, 2022	253,936	(252,601)	(13,992)	(12,657)
Net loss			(4,869)	(4,869)
Balance, value	253,936	(252,601)	(18,861)	$ (17,526)
Shares outstanding				253,936,005
Balance, value	253,936	(252,601)	(32,499)	$ (31,164)
Beginning balance, value at Jun. 30, 2023	253,936	(252,601)	(32,499)	(31,164)
Net loss			(9,550)	(9,550)
Balance, value	$ 253,936	$ (252,601)	$ (42,049)	$ (40,714)
Shares outstanding				253,936,005

Statement of Changes in Stock_2

Statement of Changes in Stockholder (Deficit) (Unaudited) Continued - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance, value	$ 253,936	$ (252,601)	$ (13,992)	$ (12,657)
Beginning balance, value at Jun. 30, 2022	253,936	(252,601)	(13,992)	(12,657)
Net loss			(4,869)	(4,869)
Balance, value	253,936	(252,601)	(18,861)	$ (17,526)
Shares outstanding				253,936,005
Balance, value	253,936	(252,601)	(32,499)	$ (31,164)
Beginning balance, value at Jun. 30, 2023	253,936	(252,601)	(32,499)	(31,164)
Net loss			(9,550)	(9,550)
Balance, value	$ 253,936	$ (252,601)	$ (42,049)	$ (40,714)
Shares outstanding				253,936,005

Statement of Cash Flows (Unaudi

Statement of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Statement of Cash Flows [Abstract]
Net loss	$ (9,550)	$ (4,869)
Changes in current assets and liabilities:
Net cash used in operating activities	(9,550)	(4,869)
CASH FLOWS FROM FINANCING ACTIVITIES
Loan to company - related party	9,550	4,869
Net cash provided by financing activities	9,550	4,869
Net change in cash
Beginning cash balance
Ending cash balance
Interest paid
Income taxes paid

Note 1 - Organization and Descr

Note 1 - Organization and Description of Business	3 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Note 1 - Organization and Description of Business	Note 1 - Organization and Description of Business C2 Blockchain, Inc. was incorporated on June 30, 2021 in the State of Nevada. On June 30, 2021, Levi Jacobson was appointed Chief Executive Officer, Chief Financial Officer, and Director of C2 Blockchain, Inc. On March 31, 2022, the Company entered into a “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 American Estate Management Company (“AEMC” or “Predecessor”), C2 Blockchai C2 Blockchain, Inc. issued 1,000 common shares of its common stock to Predecessor and Merger Sub issued 1,000 shares of its common stock to C2 Blockchain, Inc. immediately prior to the Reorganization. As such, immediately prior to the merger, C2 Blockchain, Inc. became a wholly owned direct subsidiary of American Estate Management Company and Merger Sub became a wholly owned and direct subsidiary of C2 Blockchain, Inc. On March 31, 2022 , Merger Sub filed Articles of Merger with the Nevada Secretary of State. The merger became effective on April 1, 2022 at 4:00 PM 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 C2 Blockchain, Inc.’s (“Successors”) common stock. On May 23, 2022, On April 1, 2022, after the completion of the Holding Company Reorganization, we cancelled all of the stock we held in AEMC resulting in AEMC 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 AEMC after the Reorganization. Levi Jacobson, the Director of AEMC, did not discover any assets of AEMC from the time he was appointed Director until the completion of the Reorganization and subsequent separation of AEMC as a stand-alone company. Given that the former business plan and objectives of AEMC and the present day business plan and objectives of CBLO substantially differ from one another, we conducted the corporate separation with AEMC immediately after the effective time of the Reorganization in order to avoid any shareholder confusion. The former business plan of AEMC under the leadership of its former directors, does not, in any way, represent the current day business plan of CBLO. The result of corporate separation ameliorated shareholder confusion about our identity and/or corporate objectives. Furthermore, we wanted to continue trading in the OTC MarketPlace. On April 1, 2022, the Company transmuted its business plan from that of a blank check shell company to a business combination related shell company with a holding company formation pursuant to a reorganization with American Estate Management Company. FINRA completed its review of our corporate action pursuant to our Reorganization. On April 26, 2022, CBLO was given a CUSIP number by CUSIP Global Services of 12675R 109. The announcement of our Predecessor’s corporate action was posted on the FINRA daily list on May 20, 2022. The Market Effective date was May 23, 2022. Our Common Stock is currently quoted on the OTC Markets Group Inc’s Pink® Open Market under the symbol “CBLO”. After completion of the Holding Company Reorganization and separation of AEMC as a wholly owned subsidiary, the Company reverted back to a blank check shell company. Currently, we no longer believe we are deemed to be a blank check shell company, but rather a shell company as we have a bona fide business plan at this time. The Company’s business plan is to concentrate on cryptocurrency related investments and development opportunities including but not limited to cryptocurrency mining, primarily for Bitcoin, for our own account, investments in private and/or public entities, joint ventures and acquisitions of blockchain related companies. We have not commenced our planned principal operations. Currently, Mendel Holdings, LLC, a Delaware Limited Liability Company, owned and controlled by Levi Jacobson, our sole director is our controlling shareholder, owning 200,000,000 shares of our common stock representing approximately 78.76 % voting control. The Company has elected June 30th as its year end.

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	3 Months Ended
	Sep. 30, 2023
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, 2023 and June 30, 2023 were $ 0 Income Taxes The Company accounts for income taxes under ASC 740, “ Income Taxes F-5 Table of Contents 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, 2023 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, 2023. 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, 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, 2023 and June 30, 2023. The Company’s stock-based compensation for the periods ended September 30, 2023 and September 30, 2022 was $0 for both periods. 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 we 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. F-6 Table of Contents

Note 3 - Going Concern

Note 3 - Going Concern	3 Months Ended
	Sep. 30, 2023
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, 2023
Income Tax Disclosure [Abstract]
Note 4 - Income Taxes	Note 4 - Income Taxes Potential benefits of income tax losses are not recognized in the accounts until realization is more likely than not. In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Significant components of the Company’s deferred tax assets are as follows: The reconciliation of the effective income tax rate to the federal statutory rate is as follows: On December 22, 2017, the Tax Cuts and Jobs Act of 2017 was signed into law. This legislation reduced the federal corporate tax rate from the previous 35% to 21%. Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carryforwards for Federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur, net operating loss carryforwards may be limited as to use in future years.

Note 5 - Commitments and Contin

Note 5 - Commitments and Contingencies	3 Months Ended
	Sep. 30, 2023
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, 2023
Equity [Abstract]
Note 6 - Shareholder Equity	Note 6 - Shareholder Equity Preferred Stock The authorized preferred stock of the Company consists of 20,000,000 shares with a par value of $0.001. There were no shares issued and outstanding as of September 30, 2023 and June 30, 2023. Common Stock The authorized common stock of the Company consists of 500,000,000 shares with a par value of $0.001. There were 253,936,005 shares of common stock issued and outstanding as of September 30, 2023 and June 30, 2023 (See Note 1).

Note 7 - Related-Party Transact

Note 7 - Related-Party Transactions	3 Months Ended
	Sep. 30, 2023
Related Party Transactions [Abstract]
Note 7 - Related-Party Transactions	Note 7 - Related-Party Trans actions Loan The Company’s sole officer and director, Levi Jacobson, paid expenses on behalf of the company totaling $ 9,550 40,714 The Company’s sole officer and director, Levi Jacobson, paid expenses on behalf of the company totaling $ 18,507 31,164 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, 2023
Subsequent Events [Abstract]
Note 8 - Subsequent Events	Note 8 - Subsequent Events Management has reviewed financial transactions for the Company subseque nt to the period ended September 30, 2023 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, 2023
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, 2023 and June 30, 2023 were $ 0
Income Taxes	Income Taxes The Company accounts for income taxes under ASC 740, “ Income Taxes F-5 Table of Contents
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, 2023 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, 2023. 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 September 30, 2023 and June 30, 2023. The Company’s stock-based compensation for the periods ended September 30, 2023 and September 30, 2022 was $0 for both periods.
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 we 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)	Sep. 30, 2023 USD ($)
Accounting Policies [Abstract]
Cash, as of	$ 0

Note 7 - Related-Party Transa_2

Note 7 - Related-Party Transactions (Details Narrative) - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2023	Jun. 30, 2023
Related Party Transactions [Abstract]
Expenses paid by officer, period	$ 9,550	$ 18,507
Related party loan total	$ 40,714	$ 31,164