Sound Cave Technology 10-Q 15 Aug 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2022	Aug. 15, 2022
Cover [Abstract]
Entity Registrant Name	SOUND CAVE TECHNOLOGY INC.
Entity Central Index Key	0001912540
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Current Reporting Status	Yes
Document Period End Date	Jun. 30, 2022
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
Entity Ex Transition Period	false
Entity Common Stock Shares Outstanding		10,000,000
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	333-263405
Entity Incorporation State Country Code	WY
Entity Tax Identification Number	37-2028652
Entity Interactive Data Current	Yes
Entity Address Address Line 1	43 Cathy Jean Crescent
Entity Address City Or Town	Toronto
Entity Address Postal Zip Code	M9V 4T2
City Area Code	417
Local Phone Number	322-6228
Entity Address State Or Province	ON

Balance Sheet

Balance Sheet - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 3,230	$ 768
Total current assets	3,230	768
Total assets	3,230	768
Current liabilities:
Accounts payable	1,839	1,000
Accrued expenses	2,330	2,500
Due to related party	13,986	2,000
Total current liabilities	18,155	5,500
Total liabilities	18,155	5,500
STOCKHOLDERS' DEFICIT:
Preferred stock: $0.0001 par value, 100,000,000 shares authorized, none issued and outstanding as on June 30, 2022 and December 31, 2021, respectively.	0	0
Common stock: $0.0001 par value, 250,000,000 shares authorized, 10,000,000 shares issued and outstanding as on June 30, 2022 and December 31, 2021, respectively.	1,000	1,000
Additional paid-in capital	9,000	9,000
Accumulated deficit	(24,925)	(14,732)
Total stockholders' deficit	(14,925)	(4,732)
Total liabilities and stockholders' deficit	$ 3,230	$ 768

Balance Sheet (Parenthetical)

Balance Sheet (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Balance Sheet
Preferred stock, par value per share	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	100,000,000	100,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value per share	$ 0.0001	$ 0.0001
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	10,000,000	10,000,000
Common stock, shares outstanding	10,000,000	10,000,000

Statement of Operations (Unaudi

Statement of Operations (Unaudited) - USD ($)	1 Months Ended	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2022
Statement of Operations (Unaudited)
REVENUE	$ 0	$ 0	$ 0
OPERATING EXPENSES:
Electronic components and fabric	0	0	137
General and administration expenses	139	65	663
Professional fees	0	4,689	9,393
Stock based compensation	10,000	0	0
Total operating expenses	10,139	4,754	10,193
Net loss before taxes	(10,139)	(4,754)	(10,193)
Income tax	0	0	0
Net loss	$ (10,139)	$ (4,754)	$ (10,193)
Net loss per common share - basic and diluted	$ 0	$ 0	$ 0
Weighted average number of shares of common stock outstanding - basic and diluted	10,000,000	10,000,000	10,000,000

Statement of Stockholders Defic

Statement of Stockholders Deficit (Unaudited) - USD ($)	Total	Common Stock	Share Subscriptions Received	Additional Paid-In Capital	Retained Earnings (Accumulated Deficit)
Balance, shares at May. 19, 2021		0
Balance, amount at May. 19, 2021	$ 0	$ 0	$ 0	$ 0	$ 0
Stock issued for services, shares		10,000,000
Stock issued for services, amount	10,000	$ 1,000	0	9,000	0
Net loss for the period	(10,139)	$ 0	0	0	(10,139)
Balance, shares at Jun. 30, 2021		10,000,000
Balance, amount at Jun. 30, 2021	(139)	$ 1,000	0	9,000	(10,139)
Balance, shares at Dec. 31, 2021		10,000,000
Balance, amount at Dec. 31, 2021	(4,732)	$ 1,000	0	9,000	(14,732)
Net loss for the period	(5,439)	0	0	0	(5,439)
Share subscriptions received	0	$ 0	0	0	0
Balance, shares at Mar. 31, 2022		10,000,000
Balance, amount at Mar. 31, 2022	(10,171)	$ 1,000	0	9,000	(20,171)
Balance, shares at Dec. 31, 2021		10,000,000
Balance, amount at Dec. 31, 2021	(4,732)	$ 1,000	0	9,000	(14,732)
Net loss for the period	(10,193)
Balance, shares at Jun. 30, 2022		10,000,000
Balance, amount at Jun. 30, 2022	(14,925)	$ 1,000	0	9,000	(24,925)
Balance, shares at Mar. 31, 2022		10,000,000
Balance, amount at Mar. 31, 2022	(10,171)	$ 1,000	0	9,000	(20,171)
Net loss for the period	(4,754)	0	0	0	(4,754)
Share subscriptions received	0	$ 0	0	0	0
Balance, shares at Jun. 30, 2022		10,000,000
Balance, amount at Jun. 30, 2022	$ (14,925)	$ 1,000	$ 0	$ 9,000	$ (24,925)

Statement of Cash Flows (Unaudi

Statement of Cash Flows (Unaudited) - USD ($)	1 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2022
Cash Flows from Operating Activities:
Net loss	$ (10,139)	$ (10,193)
Changes in operating assets and liabilities:
(Decrease) in accrued expenses	127	(170)
(Decrease) in accounts payable	0	839
Net cash used in operating activities	(10,012)	(9,524)
Cash Flows from Financing Activities:
Proceeds from related party debt	2,000	11,986
Net cash provided by financing activities	2,000	11,986
Cash Flows from Investing Activities:
Increase in additional paid in capital	10,000	0
Net cash provided by Investing activities	10,000	0
Net increase (decrease) in cash, cash equivalents and restricted cash	1,988	2,462
Cash, cash equivalents and restricted cash at beginning of the period	0	768
Cash, cash equivalents and restricted cash at end of the period	1,988	3,230
Supplemental Cash Flow Information:
Cash paid for interest	0	0
Cash paid for income taxes	$ 0	$ 0

ORGANIZATION AND NATURE OF BUSI

ORGANIZATION AND NATURE OF BUSINESS	6 Months Ended
	Jun. 30, 2022
ORGANIZATION AND NATURE OF BUSINESS
ORGANIZATION AND NATURE OF BUSINESS	NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS Sound Cave Technology Inc. (“the Company”) was incorporated on May 19, 2021, in the State of Wyoming. The Company is in the wearable tech business designing and manufacturing a hoodie with embedded sound.

GOING CONCERN

GOING CONCERN	6 Months Ended
	Jun. 30, 2022
GOING CONCERN
GOING CONCERN	NOTE 2 – GOING CONCERN The accompanying financial statements have been prepared in conformity with generally accepted accounting principles, which contemplate continuation of the Company as a going concern. As a development-stage company, the Company had no revenues and incurred losses as of June 30, 2022. The Company currently has limited working capital and has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time. Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses The Company intends to position itself so that it will be able to raise additional funds through the capital markets. In light of management’s efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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, and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) and reflect all adjustments, consisting of normal recurring adjustments, which management believes are necessary to fairly present the financial position, results of operations and cash flows of the Company for the six months ended June 30, 2022. 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 had $3,230 and $768 of cash as of June 30, 2022 and December 31, 2021, respectively. Income Taxes The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, “Income Taxes”. The asset and liability method provides that deferred income tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating loss and tax credit carryforwards. Deferred income tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred income tax assets to the amount that is believed more likely than not to be realized. Revenue Recognition We recognize revenue in accordance with ASC 606, Revenue from Contracts with Customers 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. 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 approximates its fair value due to its short-term maturity. 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. 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. Comprehensive Income ASC 220, “Comprehensive Income” establishes standards for the reporting and display of comprehensive income and its components in the financial statements. As at March 31, 2022, the Company had no items that affected comprehensive loss. Foreign Currency Translation The Company’s functional and reporting currency is the U.S. dollar. Transactions may occur in foreign currencies and management has adopted ASC 830, “Foreign Currency Translation Matters”. Monetary assets and liabilities denominated in foreign currencies are translated using the exchange rate prevailing at the balance sheet date. Non-monetary assets and liabilities denominated in foreign currencies are translated at rates of exchange in effect at the date of the transaction. Average monthly rates are used to translate revenues and expenses. Gains and losses arising on translation or settlement of foreign currency denominated transactions or balances are included in the statement of operations. Recent Accounting P ronouncements We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2022
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 4 – RELATED PARTY TRANSACTIONS During the three months ended March 31, 2022, director of the company contributed $9,320 towards operating expenses. During the three months ended June 30, 2022, director of the company contributed $2,666 towards operating expenses. As at June 30, 2022 and December 31, 2021, the Company owed $13,986 and $2,000 respectively to Christopher Campbell, founder and director of the Company, which is unsecured, non-interest bearing, and due on demand.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Jun. 30, 2022
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY	NOTE 5 – STOCKHOLDERS’ EQUITY Capital Stock As of June 30, 2022 and December 31, 2021, the Company’s authorized stock consists of 250,000,000 shares of common stock at a par value of $0.0001 per share and 100,000,000 shares of preferred stock at a par value of $0.0001 per share, respectively. Preferred Stock As of June 30, 2022 and December 31, 2021, the Company has no shares of preferred stock issued and outstanding, respectively. Common Stock On May 19, 2021, the company issued a total of 10,000,000 common shares to its founder and director, Christopher Campbell for services provided to the Company, valued at a price of $0.001 per share. As of June 30, 2022 and December 31, 2021, the Company has 10,000,000 shares of common stock issued and outstanding, respectively.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2022
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 6 – SUBSEQUENT EVENTS The Company evaluated all events or transactions that occurred after June 30, 2022 through the date of filing this report. Our Registration Statement on Form S-1 was declared effective on May 13, 2022. The Company does not have any additional subsequent event requiring recording or disclosure in the financial statements for the three months ended June 30, 2022 .

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2022
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, and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) and reflect all adjustments, consisting of normal recurring adjustments, which management believes are necessary to fairly present the financial position, results of operations and cash flows of the Company for the six months ended June 30, 2022.
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 had $3,230 and $768 of cash as of June 30, 2022 and December 31, 2021, respectively.
Income Taxes	The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, “Income Taxes”. The asset and liability method provides that deferred income tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating loss and tax credit carryforwards. Deferred income tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred income tax assets to the amount that is believed more likely than not to be realized.
Revenue Recognition	We recognize revenue in accordance with ASC 606, Revenue from Contracts with Customers
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.
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 approximates its fair value due to its short-term maturity.
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.
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.
Comprehensive Income	ASC 220, “Comprehensive Income” establishes standards for the reporting and display of comprehensive income and its components in the financial statements. As at March 31, 2022, the Company had no items that affected comprehensive loss.
Foreign Currency Translation	The Company’s functional and reporting currency is the U.S. dollar. Transactions may occur in foreign currencies and management has adopted ASC 830, “Foreign Currency Translation Matters”. Monetary assets and liabilities denominated in foreign currencies are translated using the exchange rate prevailing at the balance sheet date. Non-monetary assets and liabilities denominated in foreign currencies are translated at rates of exchange in effect at the date of the transaction. Average monthly rates are used to translate revenues and expenses. Gains and losses arising on translation or settlement of foreign currency denominated transactions or balances are included in the statement of operations.
Recent Accounting Pronouncements	We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Cash and Cash Equivalents	$ 3,230	$ 768

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	3 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
RELATED PARTY TRANSACTIONS
Contributed operating expenses	$ 2,666	$ 9,320
Debt from related parties	$ 13,986		$ 2,000

STOCKHOLDERS' EQUITY (Details N

STOCKHOLDERS' EQUITY (Details Narrative) - $ / shares	Jun. 30, 2022	Dec. 31, 2021	May 19, 2021
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, authorized	250,000,000	250,000,000
Common stock, issued	10,000,000	10,000,000
Common stock, outstanding	10,000,000	10,000,000
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, authorized	100,000,000	100,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Christopher Cambell [Member]
Common stock, par value			$ 0.001
Common stock, issued			10,000,000