Diligent Capital 10-K 14 Apr 23 2022 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2022	Jun. 30, 2022
Cover [Abstract]
Entity Registrant Name	DILIGENT CAPITAL HOLDINGS, INC.
Entity Central Index Key	0001922981
Document Type	10-K
Amendment Flag	false
Entity Voluntary Filers	No
Current Fiscal Year End Date	--12-31
Entity Well Known Seasoned Issuer	No
Entity Small Business	true
Entity Shell Company	true
Entity Emerging Growth Company	true
Entity Current Reporting Status	Yes
Document Period End Date	Dec. 31, 2022
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2022
Entity Ex Transition Period	false
Entity Common Stock Shares Outstanding	1,000,000
Entity Public Float		$ 0
Document Annual Report	true
Document Transition Report	false
Entity File Number	000-1922981
Entity Incorporation State Country Code	FL
Entity Tax Identification Number	88-0954889
Entity Interactive Data Current	Yes
Entity Address Address Line 1	302 Perimeter Center N
Entity Address City Or Town	Atlanta
Entity Address State Or Province	GA
Entity Address Postal Zip Code	30346
City Area Code	404
Local Phone Number	941-5527
Auditor Name	MICHAEL GILLESPIE & ASSOCIATES, PLLC
Auditor Location	Washington
Auditor Firm Id	6108

Balance Sheets

Balance Sheets - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Current Assets
Cash	$ 226	$ 0
Total Current Assets	226	0
TOTAL ASSETS	226	0
Long Term Liabilities
Shareholder Loans Payable	9,314	0
Total Long Term Liabilities	9,314	0
TOTAL LIABILITIES	9,314	0
Stockholder's Equity (Deficit)
Preferred stock, ($.0001 par value, 20,000,000 shares authorized; none issued and outstanding.)	0	0
Common stock ($.0001 par value, 180,000,000 shares authorized; 1,000,000 shares issued and outstanding as of December 31, 2022)	100	0
Paid in Capital	0	0
Accumulated Deficit	(9,188)	0
Total Stockholder's Equity (Deficit)	(9,088)	0
TOTAL LIABILITIES & STOCKHOLDER'S EQUITY (DEFICIT)	$ 226	$ 0

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Balance Sheets
Preferred Stock Par Value	$ 0.0001	$ 0.0001
Preferred Stock Auhorized	20,000,000	20,000,000
Preferred Stock Issued	0	0
Preferred Stock Outstanding	0	0
Common Stock Par Value	$ 0.0001	$ 0.0001
Common Stock Authorized	180,000,000	180,000,000
Common Stock issued	1,000,000	0
Common Stock Outstanding	1,000,000	0

Statements of Operations

Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Revenues, one
Revenues	$ 0	$ 0
Total Revenues	0	0
Operating Expenses
Accounting Fees & Expenses	6,450
Bank Fees & Charges	93
SEC Filing Fees & Expenses	2,645	0
Total Operating Expenses	9,188	0
Net Earnings (Loss)	$ (9,188)	$ 0
Basic loss per share		$ 0
Weighted average number of common shares outstanding	1,000,000

Statement of Cash Flows

Statement of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income(loss)	$ (9,188)	$ 0
Changes in assets and liabilities	0	0
Net cash provided by (used in) operating activities	0	0
CASH FLOWS FROM INVESTING ACTIVITIES:
Net cash provided by (used in) investing activities		0
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of Common Stock	100	0
Increase in Shareholder loans	9,314	0
Capital in Excess of Par	0	0
Net cash provided by (used in) financing activities	9,414	0
Net increase (decrease) in cash	226	0
Cash at beginning of period	0	0
Cash at end of period	$ 226	0
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Interest paid		0
Income taxes paid		$ 0

Statement of Changes in Stockho

Statement of Changes in Stockholders Equity (Deficit) - USD ($)	Total	Common Stock	Additional Paid-In Capital	Retained Earnings (Accumulated Deficit)
Balance, amount at Dec. 31, 2021	$ 0
Net Income (Loss)	(9,188)
Balance, shares at Dec. 31, 2022		1,000,000
Balance, amount at Dec. 31, 2022	$ (9,088)	$ 100	$ 0	$ (9,188)
Balance, shares at Feb. 21, 2022	0	1,000,000	0	0
Balance, amount at Feb. 21, 2022	$ 0	$ 100	$ 0	$ 0
Net Income (Loss)	$ 0	$ 0	$ 0	$ 0
Balance, shares at Mar. 31, 2022	0	1,000,000	0	0
Balance, amount at Mar. 31, 2022	$ 100	$ 100	$ 0	$ 0
Net Income (Loss)	$ 0	$ 0	$ 0	$ 0
Balance, shares at Jun. 30, 2022	0	1,000,000	0	0
Balance, amount at Jun. 30, 2022	$ (3,026)	$ 100	$ 0	$ (3,126)
Balance, shares at Sep. 30, 2022		1,000,000
Balance, amount at Sep. 30, 2022	(6,370)	$ 100	0	(6,470)
Net Income (Loss)	(9,088)			(9,188)
Balance, shares at Dec. 31, 2022		1,000,000
Balance, amount at Dec. 31, 2022	$ (9,088)	$ 100	$ 0	$ (9,188)

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	12 Months Ended
	Dec. 31, 2022
ORGANIZATION AND DESCRIPTION OF BUSINESS
ORGANIZATION AND DESCRIPTION OF BUSINESS	NOTE 1. ORGANIZATION AND DESCRIPTION OF BUSINESS DILIGENT CAPITAL HOLDINGS, INC. (the “Company”) was incorporated under the laws of the State of Florida on February 21, 2022 and has been inactive since inception. The Company’s current address is: 302 Perimeter Center N. #1260, Atlanta, GA 30346. The Company intends to serve as a vehicle to effect a merger or acquisition, or similar business combination with an entity actively engaged in business which generates revenues. The Company will not restrict its potential candidate Target Businesses to any specific business, industry or geographical location and, thus, may acquire any type of business in any geographical location. The Company has not established any source of revenue to cover its operating costs. The Company will engage in very limited activities, without incurring any liabilities that must be satisfied in cash, until a source of funding is secured. The Company will offer noncash consideration and seek equity lines as a means of financing its operations. If the Company is unable to obtain revenue producing contracts or financing or if the revenue or financing it does obtain is insufficient to cover any operating losses it may incur, it may substantially curtail or terminate its operations or seek other business opportunities through strategic alliances, acquisitions or other arrangements that may dilute the interests of existing stockholders. The results for the year ended December 31, 2022 are not necessarily indicative of the results of operations for the full year. These financial statements and related footnotes should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company’s Registration Statement dated July 27, 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 December 31, 2022 and for the related periods presented.

GOING CONCERN

GOING CONCERN	12 Months Ended
	Dec. 31, 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 on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company currently has no business or recurring income which raises substantial doubt about its ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company’s ability to merger with or acquire profitable operations in the future and, or, obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. There is no assurance that this series of events will be satisfactorily completed.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation Accounting The Company’s financial statements are prepared using accounting principles generally accepted in the United States of America. The Company has elected a fiscal year ending on December 31. 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 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. Cash Equivalents The Company considers all highly liquid investments, with maturity of three months or less when purchased, to be cash equivalents. I ncome Taxes Income taxes are provided in accordance with current accounting requirements. A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carry forwards. Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will be not realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. There were no current or deferred income tax expenses or benefits are reflected in the financial statements due to the Company not being in operations prior to February 21, 2022. Generally, all periods since inception are open to tax examination by taxing authorities. Impact of New Accounting Standards The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position, or cash flow, except for the expected change in financial reporting for development stage companies. A recent FASB proposal will reduce the complexity of reporting for these companies by eliminating the “inception to date” information. Accounting Standard update 2014-10 issued in June 2014, removes the financial reporting distinction between development stage companies and other reporting entities. The Amendment is for public business entities is effective with an annual reporting period beginning after December 15, 2014. Early implementation was available to the company and it has elected early implementation.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2022
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 4. RELATED PARTY TRANSACTIONS SX Capital Management, LLC (SX), the Company’s sole shareholder (its original incorporator), has paid all expenses incurred by the Company, which includes resident agent fees, basic state and local fees, audit fees and taxes, and expenses related to the formation of the Company and the professional fees and expenses associated with the preparation and filing of the Company’s registration of its Common Stock on Form 10. On a going forward basis, SX has committed to funding all expenses incurred by the Company through the date of completion of a business combination. These payments for expenses are advances and the terms of repayment to SX are not fixed. The Company is indebted to SX in the amount of $9,314 related to such expenses as of December 31, 2022. We utilize the office space and equipment of our stockholder at no cost. Management estimates such amounts to be immaterial. Steven Mitcham, the Company’s chief executive officer and Chairman is also a managing partner of SX, the Company’s sole shareholder.

STOCKHOLDERS EQUITY

STOCKHOLDERS EQUITY	12 Months Ended
	Dec. 31, 2022
Stockholder's Equity (Deficit)
STOCKHOLDER'S EQUITY	NOTE 5. STOCKHOLDER’S EQUITY Upon formation, the Board of Directors issued 1,000,000 shares of common stock for $100 to open the Company’s bank account. The stockholders’ equity section of the Company contains the following classes of capital stock as of December 31, 2022: • Common stock, $ 0.0001 par value: 180,000,000 shares authorized; 1,000,000 shares issued and outstanding • Preferred stock, $ 0.0001 par value: 20,000,000 shares authorized; none issued and outstanding. Rights and Provisions of said preferred shares will be determined at a later date; prior to issuance.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2022
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 6. SUBSEQUENT EVENTS The Company evaluated subsequent events from December 31, 2022 through the date these financial statements were issued and has noted no subsequent events after December 31, 2022 for which disclosure is required.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting	The Company’s financial statements are prepared using accounting principles generally accepted in the United States of America. The Company has elected a fiscal year ending on December 31.
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 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.
Cash Equivalents	The Company considers all highly liquid investments, with maturity of three months or less when purchased, to be cash equivalents.
Income taxes	Income taxes are provided in accordance with current accounting requirements. A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carry forwards. Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will be not realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. There were no current or deferred income tax expenses or benefits are reflected in the financial statements due to the Company not being in operations prior to February 21, 2022. Generally, all periods since inception are open to tax examination by taxing authorities.
Impact of New Accounting Standards	The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position, or cash flow, except for the expected change in financial reporting for development stage companies. A recent FASB proposal will reduce the complexity of reporting for these companies by eliminating the “inception to date” information. Accounting Standard update 2014-10 issued in June 2014, removes the financial reporting distinction between development stage companies and other reporting entities. The Amendment is for public business entities is effective with an annual reporting period beginning after December 15, 2014. Early implementation was available to the company and it has elected early implementation.

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative)	Dec. 31, 2022 USD ($)
RELATED PARTY TRANSACTIONS
Related party liabilities	$ 9,314

STOCKHOLDERS EQUITY (Details Na

STOCKHOLDERS EQUITY (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Preferred Stock Par Value	$ 0.0001	$ 0.0001
Preferred Stock Auhorized	20,000,000	20,000,000
Preferred Stock Issued	0	0
Preferred Stock Outstanding	0	0
Common Stock Par Value	$ 0.0001	$ 0.0001
Common Stock Authorized	180,000,000	180,000,000
Common Stock issued	1,000,000	0
Common Stock Outstanding	1,000,000	0
Board of Directors
Common Stock issued	1,000,000
Cash used to open bank account	$ 100