Tradewinds Enterprises 10-Q 14 Aug 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2024	Aug. 14, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity File Number	333-276233
Entity Registrant Name	Tradewinds Universal
Entity Central Index Key	0001916558
Entity Tax Identification Number	87-4254479
Entity Incorporation, State or Country Code	WY
Entity Address, Address Line One	501 Mercury Lane
Entity Address, City or Town	Brea
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92821
City Area Code	855
Local Phone Number	434-4488
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	false
Entity Common Stock, Shares Outstanding		32,170,000

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Current Assets
Cash and Cash Equivalents	$ 30,425	$ 28,213
Deferred Tax Asset		46,371
Inventory	9,132	18,076
Prepaid Expense	893	13,493
Total Current Assets	40,450	106,153
Intangible Assets	41,100	41,100
Total Assets	81,550	147,253
Current Liabilities
Total Current Liabilities	0	0
Total Liabilities	0	0
Stockholders' Equity
Common stock, $0.001 par value, 75,000,000 shares authorized, 32,170,000 shares issued and outstanding	32,170	32,170
Additional Paid in Capital	289,530	289,530
Accumulated Deficit	(240,150)	(174,447)
Total Stockholders' Equity	81,550	147,253
Total Liabilities and Stockholders' Equity	$ 81,550	$ 147,253

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	32,170,000	32,170,000
Common stock, shares outstanding	32,170,000	32,170,000

STATEMENTS OF OPERATIONS (Unaud

STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Total Sales	$ 88,536	$ 36,411	$ 118,111	$ 48,852
Cost of Sales	12,513	0	17,513	0
Gross Profit	76,023	36,411	100,598	48,852
Operating Expenses
Professional Fees	13,200	1,785	21,325	6,784
Consulting	0	950	2,000	54,700
Marketing	52,440	0	92,739	2,943
General and Administrative	308	975	3,866	1,766
Total Operating Expenses	65,948	3,710	119,930	66,193
Net Income (Loss) Before Taxes	10,075	32,701	(19,332)	(17,341)
Provision for Income Tax	(52,547)	(6,867)	(46,370)	3,641
Net (Loss) Income	$ (42,472)	$ 25,834	$ (65,702)	$ (13,700)
Net (Loss) Income Per share - Basic	$ 0	$ 0	$ 0	$ 0
Net (Loss) Income Per share - Diluted	$ 0	$ 0	$ 0	$ 0
Basic weighted average shares used in the calculation of net income per common share	32,170,000	7,659,222	32,170,000	7,659,222
Diluted weighted average shares used in the calculation of net income per common share	32,170,000	7,659,222	32,170,000	7,659,222
Commission Income [Member]
Total Sales	$ 63,576	$ 36,411	$ 93,151	$ 48,852
Product [Member]
Total Sales	$ 24,960	$ 0	$ 24,960	$ 0

STATEMENTS OF CHANGES IN STOCKH

STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Dec. 31, 2022	$ 6,970	$ 62,730	$ 7,745	$ 77,445
Beginning balance, shares at Dec. 31, 2022	6,970,000
Stock Issued for Cash	$ 2,200	19,800		22,000
Stock Issued for Cash, shares	2,200,000
Net Loss			(39,881)	(39,881)
Ending balance, value at Mar. 31, 2023	$ 9,170	82,530	(32,136)	59,564
Ending balance, shares at Mar. 31, 2023	9,170,000
Net Loss			26,181	26,181
Ending balance, value at Jun. 30, 2023	$ 9,170	82,530	5,955	85,745
Ending balance, shares at Jun. 30, 2023	9,170,000
Beginning balance, value at Dec. 31, 2023	$ 32,170	289,530	(174,447)	147,253
Beginning balance, shares at Dec. 31, 2023	32,170,000
Net Loss			(23,231)	(23,231)
Ending balance, value at Mar. 31, 2024	$ 32,170	289,530	(197,678)	124,022
Ending balance, shares at Mar. 31, 2024	32,170,000
Net Loss			(42,472)	42,472
Ending balance, value at Jun. 30, 2024	$ 32,170	$ 289,530	$ (240,150)	$ 81,550
Ending balance, shares at Jun. 30, 2024	32,170,000

STATEMENTS OF CASH FLOW (Unaudi

STATEMENTS OF CASH FLOW (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Operating Activities
Net (Loss)	$ (65,702)	$ (13,700)
Adjustments to Reconcile Net Loss to Net Cash From Operating Activities
Deferred Taxes	50,430	0
Changes in Operating Assets and Liabilities
Accounts Receivable	0	(25,000)
Deferred Tax Asset	(4,060)	(3,641)
Inventory	8,944	0
Prepaid Expense	12,600	5,100
Deferred Revenue	0	(18,852)
Net Cash from Operating Activities	2,212	(56,093)
Investing Activities
Purchase of Intangible Asset	0	(1,500)
Net Cash from Investing Activities	0	(1,500)
Financing Activities
Stock Issued for Cash	0	22,000
Net Cash from Financing Activities	0	22,000
Net Cash and Cash Equivalents	2,212	(35,593)
Cash and Cash Equivalents at Beginning of Period	28,213	53,356
Cash and Cash Equivalents at End of Period	30,425	17,763
Supplemental Cash Flow Information
Cash Paid for Interest	0	0
Cash Paid for Taxes	$ 0	$ 0

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023
Pay vs Performance Disclosure [Table]
Net Income (Loss)	$ 42,472	$ (23,231)	$ 26,181	$ (39,881)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Insider Trading Arrangements [Line Items]
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Nature of Operations

Nature of Operations	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	Note 1 – Nature of Operations Nature of Operations Tradewinds Universal (“Tradewinds” or the “Company”) was incorporated in Wyoming on December 21, 2021, for the purpose of developing, manufacturing, and distributing high nutrient-based edible insect protein bars, shakes, and other high nutrition foods/ snacks and drinks. Additionally, on December 11, 2022, Tradewinds acquired a pain relief formula for dogs which it intends to manufacture and distribute in the form of treats.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2 - 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 (“GAAP”), 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. Estimates The preparation of the financial statement in conformity with GAAP requires management to make estimates and assumptions that affect certain reported amounts. Accordingly, actual results could differ from those estimates. Cash And Cash Equivalents The Company maintains a cash balance in a non-interest-bearing account that currently does not exceed federally insured limits. For the purpose of the statements of cash flows, all highly liquid investments with an original maturity of three months or less are considered to be cash equivalents. There were no Inventory Intangible Asset As of June 30, 2024, and December 31, 2023, the Company had an Intangible Asset of $ 41,100 30,000 9,600 5 1,150 Impairment Of Long-Lived Assets The Company determines its long-lived assets impairment in accordance with Accounting Standards Codification (ASC) 360-10, Impairment or Disposal of Long-Lived Assets no Revenue Recognition The Company recognizes revenue in accordance with ASC 606. Revenue is recognized when a customer obtains control of promised goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The amount of revenue that is recorded reflects the consideration that the Company expects to receive in exchange for those goods or services. The Company applies the following five-step model in order to determine this amount: i. Identification of the promised goods in the contract; ii. Determination of whether the promised goods are performance obligations, including whether they are distinct in the context of the contract; iii. Measurement of the transaction price, including the constraint of variable consideration; iv. Allocation of the transaction price of the performance obligations; and v. Recognition of revenue when (or as) the Company satisfies each performance obligation. The performance obligation associated with a typical product sale will be satisfied upon delivery to customers, and the revenue will be recognized at that time. Payments are due on demand. The Company does not offer any warranty on its products; however, customers do receive a manufacturer’s warranty. The Company's main revenue stream to date has been from the sale of distribution territories for its protein bars. The Company sells rights to distribute its protein bars and other products to outside parties and determines if the distribution agreement (“DA”) is a distinct (separate) performance obligation in accordance with ASC 606. If the DA is determined not to be distinct, the license is combined with the other goods or services and the combined performance obligation is accounted for using the general revenue recognition model outlined above. If the DA is determined to be distinct, the Company analyzes whether the DA is functional or symbolic to assess the timing of revenue recognition. The DA by the Company was determined to be a distinct performance obligation of symbolic intellectual property (“IP)”, which provides a right to access IP. ASC 606 states that revenue from licenses of IP deemed to provide a right to use IP will be recognized at a point in time when control is transferred. In accordance with Topic 606, the Company analyzes the following to determine when to recognize DA revenue: i. Whether the transaction represents a sale or licensing of intellectual property (IP), ii. Whether the IP is a distinct performance obligation, iii. The nature of the license - functional or symbolic; and iv. The timing of recognition based on the nature of the license. The Company only applies the five-step model to contracts when it is probable the entity will collect the consideration it is entitled to in exchange for the goods and represents services it transfers to the customer. Once a contract is determined to be within the scope of ASC 606 at contract inception, the Company reviews the contract to determine which performance obligations the Company must deliver and which of these performance obligations are distinct. The Company recognizes as revenues the amount of the transaction price that is allocated to the respective performance obligations when the performance obligation is satisfied or as it is satisfied. The Company reviews the contract to determine which performance obligations the Company must deliver and which of these performance obligations are distinct. The Company recognizes as revenues the amount of the transaction price that is allocated to the respective performance obligations when the performance obligation is satisfied or as it is satisfied. Generally, the Company's performance obligations are transferred to customers at a point in time, typically upon delivery. Fair Value of Financial Instruments ASC 825, Financial Instruments Fair Value Measurements Income Taxes In accordance with ASC 740 Income Taxes The Company has adopted the provisions set forth in ASC 740 to account for uncertainty in income taxes. In the preparation of income tax returns in federal and state jurisdictions, the Company asserts certain tax positions based on its understanding and interpretation of the income tax law. The taxing authorities may challenge such positions, and the resolution of such matters could result in recognition of Income tax expense in the Company's financial statements. Management believes it has used reasonable judgments and conclusions in the preparation of its income tax returns. The Company uses the "more likely than not" criterion for recognizing the tax benefit of uncertain tax positions and to establish measurement criteria for income tax benefits. The Company' s policy is to recognize interest and/or penalties related to income tax matters in income tax expense. The Company had no Earnings Per Share of Common Stock The Company computes income (loss) per share in accordance with ASC 260 Earning Per Share Advertising Expenses The Company follows the policy of charging the costs of advertising, marketing, and public relations to expense as incurred. The Company has $ 0 Recently Issued Accounting Pronouncements There have been no recent accounting pronouncements or changes in accounting pronouncements during the six months ended June 30, 2024 that are of significance or potential significance to the Company.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note-3 - Commitments and Contingencies During the normal course of business, the Company may be exposed to litigation. When the Company becomes aware of potential litigation, it evaluates the merits of the case in accordance with ASC 450, Contingencies .

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note 4 - Income Taxes The Company recognizes deferred income tax liabilities and assets for the expected future tax consequences of events that have been recognized in the financial statements or tax returns. Under this method, deferred tax liabilities and assets are determined based on the differences between the financial statement carrying amounts and the tax basis of The components of the Company's reconciliation of income taxes computed at the s 21 Schedule of reconciliation of income taxes June 30, 2024 June 30, 2023 Net Loss Before Taxes $ (19,332 ) $ (17,341 ) Effective Tax Rate 21 % 21 % Provision For Income Taxes $ (4,060 ) $ (3,641 ) Schedule of net deferred tax asset June 30, 2024 December 31, 2023 Deferred tax asset $ 50,431 $ 46,371 Less valuation allowance (50,431 ) — Net deferred tax asset $ — $ 46,371 As of June 30, 2024, the components of the deferred tax asset related to net loss. Due to uncertainties surrounding the Company’s ability to generate future U.S. taxable income to realize these assets, a full valuation allowance has been established to offset the net U.S. deferred tax asset as of June 30, 2024.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Note 5 - Subsequent Events In accordance with ASC 855, Subsequent Events,

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
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 (“GAAP”), 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.
Estimates	Estimates The preparation of the financial statement in conformity with GAAP requires management to make estimates and assumptions that affect certain reported amounts. Accordingly, actual results could differ from those estimates.
Cash And Cash Equivalents	Cash And Cash Equivalents The Company maintains a cash balance in a non-interest-bearing account that currently does not exceed federally insured limits. For the purpose of the statements of cash flows, all highly liquid investments with an original maturity of three months or less are considered to be cash equivalents. There were no
Inventory	Inventory
Intangible Asset	Intangible Asset As of June 30, 2024, and December 31, 2023, the Company had an Intangible Asset of $ 41,100 30,000 9,600 5 1,150
Impairment Of Long-Lived Assets	Impairment Of Long-Lived Assets The Company determines its long-lived assets impairment in accordance with Accounting Standards Codification (ASC) 360-10, Impairment or Disposal of Long-Lived Assets no
Revenue Recognition	Revenue Recognition The Company recognizes revenue in accordance with ASC 606. Revenue is recognized when a customer obtains control of promised goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The amount of revenue that is recorded reflects the consideration that the Company expects to receive in exchange for those goods or services. The Company applies the following five-step model in order to determine this amount: i. Identification of the promised goods in the contract; ii. Determination of whether the promised goods are performance obligations, including whether they are distinct in the context of the contract; iii. Measurement of the transaction price, including the constraint of variable consideration; iv. Allocation of the transaction price of the performance obligations; and v. Recognition of revenue when (or as) the Company satisfies each performance obligation. The performance obligation associated with a typical product sale will be satisfied upon delivery to customers, and the revenue will be recognized at that time. Payments are due on demand. The Company does not offer any warranty on its products; however, customers do receive a manufacturer’s warranty. The Company's main revenue stream to date has been from the sale of distribution territories for its protein bars. The Company sells rights to distribute its protein bars and other products to outside parties and determines if the distribution agreement (“DA”) is a distinct (separate) performance obligation in accordance with ASC 606. If the DA is determined not to be distinct, the license is combined with the other goods or services and the combined performance obligation is accounted for using the general revenue recognition model outlined above. If the DA is determined to be distinct, the Company analyzes whether the DA is functional or symbolic to assess the timing of revenue recognition. The DA by the Company was determined to be a distinct performance obligation of symbolic intellectual property (“IP)”, which provides a right to access IP. ASC 606 states that revenue from licenses of IP deemed to provide a right to use IP will be recognized at a point in time when control is transferred. In accordance with Topic 606, the Company analyzes the following to determine when to recognize DA revenue: i. Whether the transaction represents a sale or licensing of intellectual property (IP), ii. Whether the IP is a distinct performance obligation, iii. The nature of the license - functional or symbolic; and iv. The timing of recognition based on the nature of the license. The Company only applies the five-step model to contracts when it is probable the entity will collect the consideration it is entitled to in exchange for the goods and represents services it transfers to the customer. Once a contract is determined to be within the scope of ASC 606 at contract inception, the Company reviews the contract to determine which performance obligations the Company must deliver and which of these performance obligations are distinct. The Company recognizes as revenues the amount of the transaction price that is allocated to the respective performance obligations when the performance obligation is satisfied or as it is satisfied. The Company reviews the contract to determine which performance obligations the Company must deliver and which of these performance obligations are distinct. The Company recognizes as revenues the amount of the transaction price that is allocated to the respective performance obligations when the performance obligation is satisfied or as it is satisfied. Generally, the Company's performance obligations are transferred to customers at a point in time, typically upon delivery.
Fair Value of Financial Instruments	Fair Value of Financial Instruments ASC 825, Financial Instruments Fair Value Measurements
Income Taxes	Income Taxes In accordance with ASC 740 Income Taxes The Company has adopted the provisions set forth in ASC 740 to account for uncertainty in income taxes. In the preparation of income tax returns in federal and state jurisdictions, the Company asserts certain tax positions based on its understanding and interpretation of the income tax law. The taxing authorities may challenge such positions, and the resolution of such matters could result in recognition of Income tax expense in the Company's financial statements. Management believes it has used reasonable judgments and conclusions in the preparation of its income tax returns. The Company uses the "more likely than not" criterion for recognizing the tax benefit of uncertain tax positions and to establish measurement criteria for income tax benefits. The Company' s policy is to recognize interest and/or penalties related to income tax matters in income tax expense. The Company had no
Earnings Per Share of Common Stock	Earnings Per Share of Common Stock The Company computes income (loss) per share in accordance with ASC 260 Earning Per Share
Advertising Expenses	Advertising Expenses The Company follows the policy of charging the costs of advertising, marketing, and public relations to expense as incurred. The Company has $ 0
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements There have been no recent accounting pronouncements or changes in accounting pronouncements during the six months ended June 30, 2024 that are of significance or potential significance to the Company.

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Schedule of reconciliation of income taxes	Schedule of reconciliation of income taxes June 30, 2024 June 30, 2023 Net Loss Before Taxes $ (19,332 ) $ (17,341 ) Effective Tax Rate 21 % 21 % Provision For Income Taxes $ (4,060 ) $ (3,641 )
Schedule of net deferred tax asset	Schedule of net deferred tax asset June 30, 2024 December 31, 2023 Deferred tax asset $ 50,431 $ 46,371 Less valuation allowance (50,431 ) — Net deferred tax asset $ — $ 46,371

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Indefinite-Lived Intangible Assets [Line Items]
Cash equivalents	$ 0		$ 0
Intangible asset	41,100		41,100
Impairment losses	0		0
Accrual for interest or penalties related to income tax	0		0
Advertising expenses	$ 0	$ 0
Pain Relief For Dogs [Member]
Indefinite-Lived Intangible Assets [Line Items]
Intangible asset			30,000
Website [Member]
Indefinite-Lived Intangible Assets [Line Items]
Intangible asset			9,600
Amortized over useful life	5 years
Trademarks [Member]
Indefinite-Lived Intangible Assets [Line Items]
Intangible asset			$ 1,150

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Net Loss Before Taxes	$ 10,075	$ 32,701	$ (19,332)	$ (17,341)
Effective Tax Rate			21%	21%
Provision For Income Taxes			$ (4,060)
Provision For Income Taxes	$ 52,547	$ 6,867	$ 46,370	$ (3,641)

Income Taxes (Details 1)

Income Taxes (Details 1) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Deferred tax asset	$ 50,431	$ 46,371
Less valuation allowance	(50,431)	0
Net deferred tax asset	$ 0	$ 46,371

Income Taxes (Details Narrative

Income Taxes (Details Narrative)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Statutory rate	21%	21%