Trans Global (TGGI) 10-Q 13 May 22 2022 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2022	May 13, 2022
Document Information Line Items
Entity Registrant Name	TRANS GLOBAL GROUP, INC.
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		20,665,578,306
Amendment Flag	false
Entity Central Index Key	0001891791
Entity Current Reporting Status	No
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Mar. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Quarterly Report	true
Entity File Number	000-56383
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	88-0298190
Entity Address, Address Line One	Room 2701
Entity Address, Address Line Two	Block A Zhantao Technology Building Minzhi Street
Entity Address, City or Town	Shenzhen
Entity Address, Country	CN
Entity Address, Postal Zip Code	518000
City Area Code	+86
Local Phone Number	138 2338 3535
Entity Interactive Data Current	No
Document Transition Report	false

Balance Sheets

Balance Sheets - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Current liabilities:
Amount due to a director	$ 64,404	$ 60,170
Other payables and accruals	18,000	18,000
Total current liabilities	82,404	78,170
Total liabilities	82,404	78,170
Shareholders’ deficit:
Common stock	2,066,558	866,558
Preferred stock	2	22
Additional paid-in capital		215,523
Accumulated deficit	(2,144,730)	(1,111,335)
Loss for the year	(4,234)	(48,938)
Total shareholders’ deficit	(82,404)	(78,170)
Total liabilities and shareholders’ deficit

Profit & Loss Statement

Profit & Loss Statement - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Revenue
Other income
Operating expenses	4,234	10,820
Consulting expense	2,234	10,000
Audit related fee	2,000
Franchise tax expenses		820
Finance costs
Loss before taxation	(4,234)	(10,820)
Income tax expenses
Loss after taxation	(4,234)	(10,820)
Other comprehensive income
Total comprehensive loss for the year	$ (4,234)	$ (10,820)

Statements of Shareholders_ Equ

Statements of Shareholders’ Equity - USD ($)	Preferred Stock	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Total
Balance at Dec. 31, 2020	$ 22	$ 866,558	$ 215,523	$ (1,111,335)	$ (29,232)
Balance (in Shares) at Dec. 31, 2020	220,000	8,665,578,306
Net loss for the period				(10,820)	(10,820)
Balance at Mar. 31, 2021	$ 22	$ 866,558	215,523	(1,122,155)	(40,052)
Balance (in Shares) at Mar. 31, 2021	220,000	8,665,578,306
Balance at Dec. 31, 2021	$ 22	$ 866,558	215,523	(1,160,273)	(78,170)
Balance (in Shares) at Dec. 31, 2021	220,000	8,665,578,306
Conversion, series AA preferred stock converted into common stock	$ (20)	$ 1,200,000	(215,523)	(984,457)
Conversion, series AA preferred stock converted into common stock (in Shares)	(200,000)	12,000,000,000
Net loss for the period				(4,234)	(4,234)
Balance at Mar. 31, 2022	$ 2	$ 2,066,558		$ (2,148,964)	$ (82,404)
Balance (in Shares) at Mar. 31, 2022	20,000	20,665,578,306

Statement of Cash Flows

Statement of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities
Net loss	$ (4,234)	$ (10,820)
Net cash used in operating activities	(4,234)	(10,820)
Cash flows from financing activities
Amount due to a director	4,234	10,820
Net cash generated from financing activities	4,234	10,820
Net movement in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

Organization and Operations

Organization and Operations	3 Months Ended
	Mar. 31, 2022
Disclosure of Organization and Operations [Abstract]
ORGANIZATION AND OPERATIONS	NOTE 1 - ORGANIZATION AND OPERATIONS Trans Global Group, Inc. (the “Company”) was formed in the State of Delaware on December 31, 1993 as Teletek, Inc. On October, 2007, the Company changed its name to Trans Global Group, Inc., its current name. The Company’s purpose is to seek, investigate and, if such investigation warrants, acquire an interest in business opportunities presented to it by persons or firms who or which desire to seek the perceived advantages of an issuer who has complied with the Exchange Act. The Company will not restrict its search to any specific business, industry, or geographical location and the Company may participate in a business venture of virtually any kind or nature and we have not established any particular criteria upon which we consider a business opportunity. This discussion of the proposed business herein is purposefully general and is not meant to be restrictive of the Company’s virtually unlimited discretion to search for and enter into potential business opportunities. Management anticipates that it may be able to participate in only one potential business venture because the Company has nominal assets and limited financial resources.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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. Actual results could differ from those estimates. Management further acknowledges that it is solely responsible for adopting sound accounting practices, establishing and maintaining a system of internal accounting control and preventing and detecting fraud. The Company’s system of internal accounting control is designed to assure, among other items, that 1) recorded transactions are valid; 2) valid transactions are recorded; and 3) transactions are recorded in the proper period in a timely manner to produce financial statements which present fairly the financial condition, results of operations and cash flows of the Company for the respective periods being presented. Income Taxes The Company follows FASB ASC Subtopic 740, Income Taxes, for recording the provision for income taxes. Deferred tax assets and liabilities are computed based upon the difference between the financial statement and income tax basis of assets and liabilities using the enacted marginal tax rate applicable when the related asset or liability is expected to be realized or settled. Deferred income tax expenses or benefits are based on the changes in the asset or liability each period. If available evidence suggests that it is more likely than not that some portion or all of the deferred tax assets will not be realized, a valuation allowance is required to reduce the deferred tax assets to the amount that is more likely than not to be realized. Future changes in such valuation allowance are included in the provision for deferred income taxes in the period of change. Stock-based Compensation The Company follows FASB ASC Subtopic 718, Stock Compensation, for accounting for stock-based compensation. The guidance requires that new, modified and unvested share-based payment transactions with employees, such as grants of stock options and restricted stock, be recognized in the consolidated financial statements based on their fair value at the grant date and recognized as compensation expense over their vesting periods. The Company also follows the guidance for equity instruments issued to consultants. Basic Loss Per Share FASB ASC Subtopic 260, Earnings Per Share, provides for the calculation of “Basic” and “Diluted” earnings per share. Basic earnings per share is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding for the period. All potentially dilutive securities have been excluded from the computations since they would be antidilutive. However, these dilutive securities could potentially dilute earnings per share in the future. Cash and Cash Equivalents Cash equivalents consist of highly liquid investments with maturities of three months or less when purchased. Cash and cash equivalents are on deposit with financial institutions without any restrictions. As of March 31, 2022, cash equivalents amounted to $ Nil

Going Concern

Going Concern	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN	NOTE 3 - GOING CONCERN The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business. As reflected in the accompanying financial statements, the Company had accumulated losses as of March 31, 2022 of $2,148,964. These conditions among others, raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include adjustments that might result from the outcome of this uncertainty. The ability of the Company to continue as a going concern is dependent on the undertaking of its shareholders to provide continuing financial support to enable the Company to meet its liabilities as and when they fall due.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2022
Disclosure of Stockholders' Equity [Abstarct]
STOCKHOLDERS' EQUITY	NOTE 4 - STOCKHOLDERS’ EQUITY Authorized Capital Stock Common Stock The Company is authorized to issue 99,995,000,000 shares of common stock with a par value of $0.0001 per share. As of March 31, 2022, 20,665,578,306 shares were issued and outstanding. Preferred Stock The Company is authorized to issue 1,500,000 shares of preferred stock with a par value of $0.0001 per share. As of March 31, 2022, 20,000 shares of series B preferred stock were issued and outstanding. Capital Stock Issued On January 30, 2020, the Company exchanged 1,200,000 shares of old series AA preferred stock for 200,000 shares of new series AA preferred stock. On September 20, 2020, the Company issued 800,000,000 shares of common stock to VS Services, LLC for conversion of note and accrued interests. On September 22, 2020, the Company issued 20,000 series B preferred stock to Chen Ren. On March 7, 2022, 200,000 shares of series AA preferred stock were converted into 12,000,000,000 shares of common stock.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 5 - RELATED PARTY TRANSACTIONS None

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 6 - SUBSEQUENT EVENTS None

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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. Actual results could differ from those estimates. Management further acknowledges that it is solely responsible for adopting sound accounting practices, establishing and maintaining a system of internal accounting control and preventing and detecting fraud. The Company’s system of internal accounting control is designed to assure, among other items, that 1) recorded transactions are valid; 2) valid transactions are recorded; and 3) transactions are recorded in the proper period in a timely manner to produce financial statements which present fairly the financial condition, results of operations and cash flows of the Company for the respective periods being presented.
Income Taxes	Income Taxes The Company follows FASB ASC Subtopic 740, Income Taxes, for recording the provision for income taxes. Deferred tax assets and liabilities are computed based upon the difference between the financial statement and income tax basis of assets and liabilities using the enacted marginal tax rate applicable when the related asset or liability is expected to be realized or settled. Deferred income tax expenses or benefits are based on the changes in the asset or liability each period. If available evidence suggests that it is more likely than not that some portion or all of the deferred tax assets will not be realized, a valuation allowance is required to reduce the deferred tax assets to the amount that is more likely than not to be realized. Future changes in such valuation allowance are included in the provision for deferred income taxes in the period of change.
Stock-based Compensation	Stock-based Compensation The Company follows FASB ASC Subtopic 718, Stock Compensation, for accounting for stock-based compensation. The guidance requires that new, modified and unvested share-based payment transactions with employees, such as grants of stock options and restricted stock, be recognized in the consolidated financial statements based on their fair value at the grant date and recognized as compensation expense over their vesting periods. The Company also follows the guidance for equity instruments issued to consultants.
Basic Loss Per Share	Basic Loss Per Share FASB ASC Subtopic 260, Earnings Per Share, provides for the calculation of “Basic” and “Diluted” earnings per share. Basic earnings per share is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding for the period. All potentially dilutive securities have been excluded from the computations since they would be antidilutive. However, these dilutive securities could potentially dilute earnings per share in the future.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash equivalents consist of highly liquid investments with maturities of three months or less when purchased. Cash and cash equivalents are on deposit with financial institutions without any restrictions. As of March 31, 2022, cash equivalents amounted to $ Nil

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Details)	Mar. 31, 2022USD ($)
Accounting Policies [Abstract]
Cash equivalent amount

Going Concern (Details)

Going Concern (Details)	Mar. 31, 2022USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated losses	$ 2,148,964

Stockholders' Equity (Details)

Stockholders' Equity (Details)	3 Months Ended
	Mar. 31, 2022$ / sharesshares
Stockholders' Equity (Details) [Line Items]
Common stock, shares authorized	99,995,000,000
Common stock, par value (in Dollars per share) | $ / shares	$ 0.0001
Common stock, shares issued	20,665,578,306
Common stock, shares outstanding	20,665,578,306
Preferred stock, shares authorized	1,500,000
Preferred stock, par value (in Dollars per share) | $ / shares	$ 0.0001
Common stock, description	On January 30, 2020, the Company exchanged 1,200,000 shares of old series AA preferred stock for 200,000 shares of new series AA preferred stock. On September 20, 2020, the Company issued 800,000,000 shares of common stock to VS Services, LLC for conversion of note and accrued interests. On September 22, 2020, the Company issued 20,000 series B preferred stock to Chen Ren. On March 7, 2022, 200,000 shares of series AA preferred stock were converted into 12,000,000,000 shares of common stock.
Series B Preferred Stock [Member]
Stockholders' Equity (Details) [Line Items]
Preferred stock, shares outstanding	20,000
Preferred stock, shares issued	20,000