Sound Cave Technology 10-Q 8 Oct 24 2023 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2023	Oct. 08, 2024
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	No
Document Period End Date	Jun. 30, 2023
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2023
Entity Ex Transition Period	false
Entity Common Stock Shares Outstanding		10,000,000
Entity File Number	333-263405
Entity Incorporation State Country Code	WY
Entity Tax Identification Number	37-2028652
Entity Address Address Line 1	43 Cathy Jean Crescent
Entity Address City Or Town	Toronto
Entity Address State Or Province	ON
Entity Address Postal Zip Code	M9V 4T2
City Area Code	417
Local Phone Number	322-6228
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	No

Balance Sheet

Balance Sheet - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 1,529	$ 256
Total current assets	1,529	256
Total assets	1,529	256
Current liabilities:
Accounts payable	1,000	1,000
Accrued expenses	0	0
Due to related party	11,457	12,957
Total current liabilities	12,457	13,957
Total liabilities	12,457	13,957
STOCKHOLDERS' DEFICIT:
Preferred stock: $0.0001 par value, 100,000,000 shares authorized, none issued and outstanding as on June 30, 2023 and December 31 2022, 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, 2023, and December 31 2022, respectively	1,000	1,000
Additional paid-in capital	9,000	9,000
Share subscription received	12,500	6,800
Accumulated other comprehensive loss	(221)	(221)
Accumulated deficit	(33,207)	(30,280)
Total stockholders' deficit	(10,928)	(13,701)
Total liabilities and stockholders' deficit	$ 1,529	$ 256

Balance Sheet (Parenthetical)

Balance Sheet (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
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 ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Operations (Unaudited)
REVENUE	$ 0	$ 0	$ 0	$ 0
OPERATING EXPENSES:
Electronic components and fabric	0	0	0	137
General and administration expenses	34	65	102	663
Professional fees	0	4,689	2,825	9,393
Total operating expenses	34	4,754	2,927	10,193
Net loss	$ (34)	$ (4,754)	$ (2,927)	$ (10,193)
Net loss per common share - basic and diluted	$ 0	$ 0	$ 0	$ 0
Weighted average number of shares of common stock outstanding - basic and diluted	10,000,000	10,000,000	10,000,000	10,000,000

Statement of Stockholders Defic

Statement of Stockholders Deficit (Unaudited) - USD ($)	Total	Common Stock	Additional Paid-In Capital	Share Subscriptions Received	Accumulated Deficit	Other Comprehensive Loss
Balance, shares at Dec. 31, 2021		10,000,000
Balance, amount at Dec. 31, 2021	$ (4,732)	$ 1,000	$ 9,000	$ 0	$ (14,732)	$ 0
Net loss	(5,439)				(5,439)	0
Balance, shares at Mar. 31, 2022		10,000,000	10,000,000
Balance, amount at Mar. 31, 2022	(10,171)	$ 1,000	$ 9,000	0	(20,171)	0
Balance, shares at Dec. 31, 2021		10,000,000
Balance, amount at Dec. 31, 2021	(4,732)	$ 1,000	9,000	0	(14,732)	0
Net loss	(10,193)
Balance, shares at Jun. 30, 2022		10,000,000
Balance, amount at Jun. 30, 2022	(14,925)	$ 1,000	$ 9,000	0	(24,925)	0
Balance, shares at Mar. 31, 2022		10,000,000	10,000,000
Balance, amount at Mar. 31, 2022	(10,171)	$ 1,000	$ 9,000	0	(20,171)	0
Net loss	(4,754)				(4,754)
Balance, shares at Jun. 30, 2022		10,000,000
Balance, amount at Jun. 30, 2022	(14,925)	$ 1,000	9,000	0	(24,925)	0
Balance, shares at Dec. 31, 2022		10,000,000
Balance, amount at Dec. 31, 2022	(13,701)	$ 1,000	9,000	6,800	(30,280)	(221)
Net loss	(2,893)				(2,893)
Share application money received	5,700	$ 0	0	5,700	0	0
Balance, shares at Mar. 31, 2023		10,000,000
Balance, amount at Mar. 31, 2023	(10,894)	$ 1,000	9,000	12,500	(33,173)	(221)
Balance, shares at Dec. 31, 2022		10,000,000
Balance, amount at Dec. 31, 2022	(13,701)	$ 1,000	9,000	6,800	(30,280)	(221)
Net loss	(2,927)
Balance, shares at Jun. 30, 2023		10,000,000
Balance, amount at Jun. 30, 2023	(10,928)	$ 1,000	9,000	12,500	(33,207)	(221)
Balance, shares at Mar. 31, 2023		10,000,000
Balance, amount at Mar. 31, 2023	(10,894)	$ 1,000	9,000	12,500	(33,173)	(221)
Net loss	(34)				(34)
Balance, shares at Jun. 30, 2023		10,000,000
Balance, amount at Jun. 30, 2023	$ (10,928)	$ 1,000	$ 9,000	$ 12,500	$ (33,207)	$ (221)

Statement of Cash Flows (Unaudi

Statement of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash Flows from Operating Activities:
Net loss	$ (2,927)	$ (10,193)
Changes in operating assets and liabilities:
(Decrease) in accrued expenses	0	(170)
Share based compensation expenses	0	0
Increase in accounts payable	0	839
Net cash used in operating activities	(2,927)	(9,524)
Cash Flows from Financing Activities:
Proceeds from related party debt	(1,500)	11,986
Repayment of related party debt		0
Increase in share application money	5,700	0
Net cash provided by financing activities	4,200	11,986
Cash Flows from Investing Activities:
Net cash provided by Investing activities	0	0
Net increase (decrease) in cash, cash equivalents and restricted cash	1,273	2,462
Effects of currency translation on cash	0	0
Cash, cash equivalents and restricted cash at beginning of the period	256	768
Cash, cash equivalents and restricted cash at end of the period	1,529	3,230
Supplemental Cash Flow Information:
Cash paid for interest	0	0
Cash paid for income taxes	0	0
Share issue for services	$ 0	$ 0

ORGANIZATION AND NATURE OF BUSI

ORGANIZATION AND NATURE OF BUSINESS	6 Months Ended
	Jun. 30, 2023
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, 2023
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, 2023. 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, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The results for the six months ended June 30, 2023, are not necessarily indicative of the results of operations for the full year. These financial statements and the related footnotes should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10K for the year ended December 31, 2022, filed with the Securities and Exchange Commission. The accompanying condensed financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at June 30, 2023 and for the related periods presented. Cash and Cash Equivalents The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. The Company had $1,529 and $256 of cash as of June 30, 2023, and December 31, 2022, respectively. Income Taxes The Company recognizes the tax effects of transactions in the year in which such transactions enter into the determination of net income, regardless of when reported for tax purposes. Revenue Recognition We recognize revenue in accordance with Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers (“ASC 606”). The standard’s stated core principle is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve this core principle, ASC 606 includes provisions within a five-step model that includes identifying the contract with a customer, identifying the performance obligations in the contract, determining the transaction price, allocating the transaction price to the performance obligations, and recognizing revenue when, or as, an entity satisfies a performance obligation. 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 and Diluted Net Loss per Common Share Basic loss per common share is computed by dividing the net loss by the weighted average number of shares of common stock outstanding for each period. Diluted loss per share is computed by dividing the net loss by the weighted average. Number of shares of common stock outstanding plus the dilutive effect of shares issuable through the common stock equivalents. The weighted-average number of common shares outstanding excludes common stock equivalents because their inclusion would be anti-dilutive. Comprehensive Income Comprehensive income is defined as all changes in stockholders’ deficit, exclusive of transactions with owners, such as capital investments. Comprehensive income includes net income or loss, changes in certain assets and liabilities that are reported directly in equity such as translation adjustments on investments in foreign subsidiaries and unrealized gains (losses) on available-for-sale securities. As of June 30, 2023, there were no differences between our comprehensive loss and net 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.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2023
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 4 – RELATED PARTY TRANSACTIONS During the three months ended March 31, 2022, the Director of the Company contributed $9,320 towards operating expenses. During the three months ended June 30, 2022, the Director of the Company contributed $2,666 towards operating expenses. During the three months ended September 30, 2022, the Director of the Company contributed $839 towards operating expenses and $1,618 repaid to the related party Director. During the three months ended December 31, 2022, $250 was repaid to the related party Director. During the three months ended March 31, 2023, $1,600 was repaid to the related party Director. During the three months ended June 30, 2023, the Director of the Company contributed $100 towards operating expenses. As at June 30, 2023 and December 31, 2022, the Company owed $11,457 and $12,957 respectively to Christopher Campbell, founder and director of the Company.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Jun. 30, 2023
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY	NOTE 5 – STOCKHOLDERS’ EQUITY Capital Stock As of June 30, 2023, and December 31, 2022, 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, 2023, and December 31, 2022, 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, 2023, and December 31, 2022, the Company has 10,000,000 shares of common stock issued and outstanding, respectively. Share Subscription Received On July 12, 2022, the Company received share application money of $4,300 from fifteen prospective investors. On August 30, 2022, the Company received share application money of $2,500 from five prospective investors. On January 10, 2023, the Company received share application money of $3,500 from seven prospective investors. On January 13, 2023, the Company received share application money of $600 from two prospective investors. On February 2, 2023, the Company received share application money of $1,100 from three prospective investors. On February 17, 2023, the Company received share application money of $500 from one prospective investor.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2023
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 6 – SUBSEQUENT EVENTS The Company evaluated and herewith reporting all events or transactions that occurred after June 30, 2023, through the date of filing this report. During August 2024, Director of the Company Christopher Campbell provided working capital of $16,375 towards the operating expenses towards audit fees, bookkeeping and consulting charges. The Company determined that it does not have any subsequent event requiring recording or disclosure in the financial statements other than the one disclosed above for the six months ended June 30, 2023 .

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation	The results for the six months ended June 30, 2023, are not necessarily indicative of the results of operations for the full year. These financial statements and the related footnotes should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10K for the year ended December 31, 2022, filed with the Securities and Exchange Commission. The accompanying condensed financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at June 30, 2023 and for the related periods presented.
Cash and Cash Equivalents	The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. The Company had $1,529 and $256 of cash as of June 30, 2023, and December 31, 2022, respectively.
Income Taxes	The Company recognizes the tax effects of transactions in the year in which such transactions enter into the determination of net income, regardless of when reported for tax purposes.
Revenue Recognition	We recognize revenue in accordance with Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers (“ASC 606”). The standard’s stated core principle is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve this core principle, ASC 606 includes provisions within a five-step model that includes identifying the contract with a customer, identifying the performance obligations in the contract, determining the transaction price, allocating the transaction price to the performance obligations, and recognizing revenue when, or as, an entity satisfies a performance obligation.
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 and Diluted Net Loss per Common Share	Basic loss per common share is computed by dividing the net loss by the weighted average number of shares of common stock outstanding for each period. Diluted loss per share is computed by dividing the net loss by the weighted average. Number of shares of common stock outstanding plus the dilutive effect of shares issuable through the common stock equivalents. The weighted-average number of common shares outstanding excludes common stock equivalents because their inclusion would be anti-dilutive.
Comprehensive Income	Comprehensive income is defined as all changes in stockholders’ deficit, exclusive of transactions with owners, such as capital investments. Comprehensive income includes net income or loss, changes in certain assets and liabilities that are reported directly in equity such as translation adjustments on investments in foreign subsidiaries and unrealized gains (losses) on available-for-sale securities. As of June 30, 2023, there were no differences between our comprehensive loss and net 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, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Cash and Cash Equivalents	$ 1,529	$ 256	$ 3,230	$ 768

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	3 Months Ended						6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2022
RELATED PARTY TRANSACTIONS
Contributed operating expenses	$ 100			$ 839	$ 2,666	$ 9,320
Repayment of related party debt		$ 1,600	$ 250	$ 1,618			$ 0
Due to related party	$ 11,457		$ 12,957

STOCKHOLDERS EQUITY (Details Na

STOCKHOLDERS EQUITY (Details Narrative) - USD ($)					1 Months Ended
	Feb. 02, 2023	Jan. 13, 2023	Jan. 10, 2023	Jul. 12, 2022	Feb. 17, 2023	Aug. 30, 2022	Jun. 30, 2023	Dec. 31, 2022	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
Two Investor [Member]
Application money received		$ 600
Fifteen Investor [Member]
Application money received				$ 4,300
Five Investor [Member]
Application money received						$ 2,500
Seven Investor [Member]
Application money received			$ 3,500
Three Investor [Member]
Application money received	$ 1,100
One Investor [Member]
Application money received					$ 500
Christopher Cambell [Member]
Common stock, par value									$ 0.001
Common stock, issued									10,000,000

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative)	1 Months Ended
	Aug. 31, 2024 USD ($)
Subsequent Event [Member] | Christopher Cambell [Member]
Working capital used for operating expenses	$ 16,375