Rapid Line (RPDL) 10-Q 8 Jun 22 2023 Q1 Quarterly report Financial data

Cover

Cover - USD ($)	4 Months Ended
	Apr. 30, 2022	Jan. 31, 2022	Jan. 09, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Apr. 30, 2022
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--01-31
Entity File Number	333-263739
Entity Registrant Name	RAPID LINE INC.
Entity Central Index Key	0001910975
Entity Tax Identification Number	98-1646802
Entity Incorporation, State or Country Code	WY
Entity Address, Address Line One	Gieldowa 4A
Entity Address, City or Town	Warsaw
Entity Address, Country	PL
Entity Address, Postal Zip Code	01-211
Country Region	48
City Area Code	222
Local Phone Number	196622
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	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	2,500,000
Current Assets
Cash on hand	$ 0	$ 51
Total Current Assets	0	51
Non- Current Intangible Assets
Mobile Application and Website Development	41,000	41,000
Accumulated Amortization	(2,401)	(352)
Total Non-Current Intangible Assets	38,599	40,648
Total Assets	38,599	40,699
Current Liabilities
Interest Payable	1,205	180
Total Current Liabilities	1,205	180
Long term Liabilities
Director Loan	7,822	0
Promissory Note	41,000	41,000
Total Long term Liabilities	48,822	41,000
Total Liabilities	50,027	41,180
Stockholders’ Equity
Common stock, $0.0001 par value, 75,000,000 shares authorized; 2,500,000 shares issued and outstanding	$ 250	$ 250
Common Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	75,000,000	75,000,000
Common Stock, Shares, Issued	2,500,000	2,500,000
Common Stock, Shares, Outstanding	2,500,000	2,500,000
Additional paid-in-capital	$ 0	$ 0
Accumulated deficit	(11,678)	(732)
Total Stockholders’ Equity	(11,428)	(481)
Total Liabilities and Stockholders’ Equity	$ 38,599	$ 40,699

Statements of Operations (Unaud

Statements of Operations (Unaudited)	3 Months Ended
	Apr. 30, 2022USD ($)$ / sharesshares
Income Statement [Abstract]
REVENUES	$ 0
OPERATING EXPENSES
General and Administrative Expenses	10,947
TOTAL OPERATING EXPENSES	(10,947)
NET INCOME (LOSS) FROM OPERATIONS	(10,947)
PROVISION FOR INCOME TAXES	0
NET INCOME (LOSS)	$ (10,947)
NET LOSS PER SHARE: BASIC AND DILUTED | $ / shares	$ 0
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED | shares	2,500,000

Statement of Stockholders' Equi

Statement of Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Jan. 09, 2022
Shares, Outstanding, Beginning Balance at Jan. 09, 2022
Shares issued for cash at $0.0001 per share on January 10, 2022	$ 250			250
Stock Issued During Period, Shares, New Issues	2,500,000
Net loss			(732)	(732)
Ending balance, value at Jan. 31, 2022	$ 250		(732)	(481)
Shares, Outstanding, Ending Balance at Jan. 31, 2022	2,500,000
Net loss			(10,947)	(10,947)
Ending balance, value at Apr. 30, 2022	$ 250		$ (11,678)	$ (11,428)
Shares, Outstanding, Ending Balance at Apr. 30, 2022	2,500,000

Statement of Cash Flows (Unaudi

Statement of Cash Flows (Unaudited) - USD ($)	1 Months Ended	3 Months Ended
	Jan. 31, 2022	Apr. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ (732)	$ (10,947)
Accumulated amortization		2,049
CASH FLOWS USED IN OPERATING ACTIVITIES		(8,053)
CASH FLOWS FROM FINANCING ACTIVITIES
Related Party Loans		7,822
Interest payable		1,025
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES		8,847
Net increase in cash and equivalents		(51)
Cash and equivalents at beginning of the period		51
Cash and equivalents at end of the period	$ 51	0
Cash paid for:
Interest		0
Taxes		$ 0

ORGANIZATION AND BASIS OF PRESE

ORGANIZATION AND BASIS OF PRESENTATION	4 Months Ended
	Apr. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BASIS OF PRESENTATION	NOTE 1 – ORGANIZATION AND BASIS OF PRESENTATION RAPID LINE INC. (referred as the “Company”, “we”, “our”) is a development stage company formed to commence operations concerned with online education. We were incorporated under the laws of the state of Wyoming on January 10, 2022. From our formation we were engaged in the business of namely the development, marketing and business process analysis, problem solving and general business services by our CEO, sole Officer and Director Mr. Moroz. Our executive and business office is located at Gieldowa 4A, Warsaw 01-211, Poland, and our telephone number is +48222196622.

GOING CONCERN

GOING CONCERN	4 Months Ended
	Apr. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN	NOTE 2 – GOING CONCERN The Company’s financial statements have been prepared assuming that it 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 financial statements, the Company had an accumulated deficit from Inception of $ 11,678 10,947 41,000 The Company is attempting to commence operations and generate sufficient revenue; however, the Company’s cash position may not be sufficient to support the Company’s daily operations. Management intends to raise additional funds by way of a private or public offering. While the Company believes in the viability of its strategy to commence operations and generate sufficient revenue and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon the Company’s ability to further implement its business plan and generate sufficient revenue and its ability to raise additional funds by way of a public or private offering. The financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. The extent of the impact of the coronavirus ("COVID-19") outbreak on the financial performance of the Company will depend on future developments, including the duration and spread of the outbreak and related advisories and restrictions and the impact of COVID-19 on the overall economy, all of which are highly uncertain and cannot be predicted. If the overall economy is impacted for an extended period, the Company’s future operating results may be materially adversely affected.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	4 Months Ended
	Apr. 30, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America. The Company’s year-end is January 31. The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and with the rules and regulations of the Securities and Exchange Commission. Accordingly, they do not include all of the information and notes required by US GAAP for complete financial statements of the Company. In the opinion of management, these financial statements reflect all adjustments of a normal recurring nature necessary for the fair presentation of the Company’s financial position, results of operations and cash flows for the interim periods presented in conformity with US GAAP. These unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto for the year ended January 31, 2022. Interim results are not necessarily indicative of the results that may be expected for a full year or any other interim period. 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 the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company issued 2,500,000 common shares for $250 at par value $0.0001 for the purpose of taking care of financial operations for the Company by the director Wiktor Moroz. Mobile Application and Website development - amortization The Company is using straight - line amortization for our mobile application and website since they are fully operational as of January 15, 2022. Mobile Application and Website – $ 41,000 Term of amortization – 60 As of April 30, 2022 the company’s accumulated amortization was $ 2,401 Interest Payable Note The Company holds Promissory note payable of $ 41,000 1,025 Fair Value of Financial Instruments AS topic 820 "Fair Value Measurements and Disclosures" establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market. These tiers include: Level 1: defined as observable inputs such as quoted prices in active markets; Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The carrying value of cash and the Company’s loan from shareholder approximates its fair value due to their short-term maturity. Income Taxes Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. Basic Income (Loss) Per Share The Company computes income (loss) per share in accordance with FASB ASC 260 “Earnings per Share”. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. As of April 30, 2022, there were no Stock-Based Compensation Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options. Recent Accounting Pronouncements Management does not believe that any recently issued, but not yet effective accounting pronouncements, when adopted, will have a material effect on the accompanying financial statements.

LOAN FROM DIRECTOR

LOAN FROM DIRECTOR	4 Months Ended
	Apr. 30, 2022
Related Party Transactions [Abstract]
LOAN FROM DIRECTOR	Note 4 – LOAN FROM DIRECTOR As of April 30, 2022, the Company owed $ 7,822 2,500,000

COMMON STOCK

COMMON STOCK	4 Months Ended
	Apr. 30, 2022
Equity [Abstract]
COMMON STOCK	Note 5 – COMMON STOCK The Company has 75,000,000 On January 10, 2022 the Company issued 2,500,000 250 There were 2,500,000

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	4 Months Ended
	Apr. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	Note 6 – COMMITMENTS AND CONTINGENCIES Our sole officer and director, Wiktor Moroz, has agreed to provide his own premise under office needs. He will not take any fee for these premises, it is for free use.

INCOME TAXES

INCOME TAXES	4 Months Ended
	Apr. 30, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	Note 7 – INCOME TAXES On December 22, 2017, the President of the United States signed into law the Tax Cuts and Jobs Act (“Tax Reform Act”). The legislation significantly changes U.S. tax law by, among other things, lowering corporate income tax rates, implementing a territorial tax system and imposing a transition tax on deemed repatriated earnings of foreign subsidiaries. The Tax Reform Act permanently reduces the U.S. corporate income tax rate from a maximum of 35% to a flat 21% rate, effective January 1, 2018. The reconciliation of income tax benefit (expenses) at the U.S. statutory rate at 21% for the period ended as follows: April 30, 2022 Tax benefit (expenses) at U.S. statutory rate $ (2,299 ) Change in valuation allowance 2,299 Tax benefit (expenses), net $ – The tax effects of temporary differences that give rise to significant portions of the net deferred tax assets are as follows: April 30, 2022 Net operating loss $ 2,452 Valuation allowance (2,452 ) Deferred tax assets, net $ – The Company has accumulated approximately $ 11,678

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	4 Months Ended
	Apr. 30, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	Note 8 – SUBSEQUENT EVENTS In accordance with ASC 855-10 the Company has analyzed its operations subsequent to April 30, 2022 to the date these financial statements were issued, and has determined that it does not have any material subsequent events to disclose in these financial statements. The extent of the impact of the coronavirus ("COVID-19") outbreak on the financial performance of the Company will depend on future developments, including the duration and spread of the outbreak and related advisories and restrictions and the impact of COVID-19 on the overall economy, all of which are highly uncertain and cannot be predicted. If the overall economy is impacted for an extended period, the Company’s future operating results may be materially adversely affected.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	4 Months Ended
	Apr. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America. The Company’s year-end is January 31. The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and with the rules and regulations of the Securities and Exchange Commission. Accordingly, they do not include all of the information and notes required by US GAAP for complete financial statements of the Company. In the opinion of management, these financial statements reflect all adjustments of a normal recurring nature necessary for the fair presentation of the Company’s financial position, results of operations and cash flows for the interim periods presented in conformity with US GAAP. These unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto for the year ended January 31, 2022. Interim results are not necessarily indicative of the results that may be expected for a full year or any other interim period.
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 the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company issued 2,500,000 common shares for $250 at par value $0.0001 for the purpose of taking care of financial operations for the Company by the director Wiktor Moroz.
Mobile Application and Website development - amortization	Mobile Application and Website development - amortization The Company is using straight - line amortization for our mobile application and website since they are fully operational as of January 15, 2022. Mobile Application and Website – $ 41,000 Term of amortization – 60 As of April 30, 2022 the company’s accumulated amortization was $ 2,401
Interest Payable Note	Interest Payable Note The Company holds Promissory note payable of $ 41,000 1,025
Fair Value of Financial Instruments	Fair Value of Financial Instruments AS topic 820 "Fair Value Measurements and Disclosures" establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market. These tiers include: Level 1: defined as observable inputs such as quoted prices in active markets; Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The carrying value of cash and the Company’s loan from shareholder approximates its fair value due to their short-term maturity.
Income Taxes	Income Taxes Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.
Basic Income (Loss) Per Share	Basic Income (Loss) Per Share The Company computes income (loss) per share in accordance with FASB ASC 260 “Earnings per Share”. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. As of April 30, 2022, there were no
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Management does not believe that any recently issued, but not yet effective accounting pronouncements, when adopted, will have a material effect on the accompanying financial statements.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	4 Months Ended
	Apr. 30, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES (Details - Tax Expense)	April 30, 2022 Tax benefit (expenses) at U.S. statutory rate $ (2,299 ) Change in valuation allowance 2,299 Tax benefit (expenses), net $ –
INCOME TAXES (Details - Deferred taxes)	April 30, 2022 Net operating loss $ 2,452 Valuation allowance (2,452 ) Deferred tax assets, net $ –

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended
	Jan. 31, 2022	Apr. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Retained Earnings (Accumulated Deficit)	$ 732	$ 11,678
Net Income (Loss) Attributable to Parent	732	10,947
Long-Term Debt	$ 41,000	$ 41,000

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended
	Apr. 30, 2022	Jan. 31, 2022
Accounting Policies [Abstract]
Finite-Lived Intangible Assets, Gross	$ 41,000
Finite-Lived Intangible Asset, Useful Life	60 months
Finite-Lived Intangible Assets, Accumulated Amortization	$ 2,401	$ 352
Interest Payable	$ 1,025
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0

LOAN FROM DIRECTOR (Details Nar

LOAN FROM DIRECTOR (Details Narrative) - USD ($)	1 Months Ended
	Jan. 31, 2022	Apr. 30, 2022
Related Party Transactions [Abstract]
Due to Related Parties		$ 7,822
Stock Issued During Period, Shares, Issued for Services	2,500,000

COMMON STOCK (Details Narrative

COMMON STOCK (Details Narrative) - USD ($)	1 Months Ended
	Jan. 31, 2022	Apr. 30, 2022
Equity [Abstract]
Common Stock, Shares Authorized	75,000,000	75,000,000
Stock Issued During Period, Shares, Issued for Services	2,500,000
Stock Issued During Period, Value, Issued for Services	$ 250
Common Stock, Shares, Issued	2,500,000	2,500,000
Common Stock, Shares, Outstanding	2,500,000	2,500,000

INCOME TAXES (Details - Tax Exp

INCOME TAXES (Details - Tax Expense)	3 Months Ended
	Apr. 30, 2022USD ($)
Income Tax Disclosure [Abstract]
Tax benefit (expenses) at U.S. statutory rate	$ (2,299)
Change in valuation allowance	2,299
Tax benefit (expenses), net	$ 0

INCOME TAXES (Details - Deferre

INCOME TAXES (Details - Deferred taxes)	Apr. 30, 2022USD ($)
Income Tax Disclosure [Abstract]
Net operating loss	$ 2,452
Valuation allowance	(2,452)
Deferred tax assets, net	$ 0

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative)	Apr. 30, 2022USD ($)
Income Tax Disclosure [Abstract]
Operating Loss Carryforwards	$ 11,678