Cover
Cover - shares | 9 Months Ended | |
Nov. 30, 2023 | Jan. 08, 2024 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Nov. 30, 2023 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2024 | |
Current Fiscal Year End Date | --02-28 | |
File Number | 333-272825 | |
Registrant Name | ALIXO-YOLLOO CORP. | |
Entity Central Index Key | 0001977837 | |
TaxIdentification Number | 37-1922983 | |
Incorporation State | NV | |
Address | Business Center Sunkar, Building 47B | |
Address City | Aktau | |
Address Country | KZ | |
Postal Zip Code | 130002 | |
City Area Code | 252 | |
Local Phone Number | 34-66-180 | |
Current Reporting Status | Yes | |
Interactive Data Current | Yes | |
Filer Category | Non-accelerated Filer | |
Small Business | true | |
emerging growth company | true | |
extended transition period | false | |
Shell Company | false | |
Common Stock Shares Outstanding | 5,580,000 |
BALANCE SHEETS
BALANCE SHEETS - USD ($) | Nov. 30, 2023 | Feb. 28, 2023 |
Current Assets | ||
Cash | $ 1,337 | $ 7,511 |
Prepaid Expenses | 7,000 | |
Total Current Assets | 1,337 | 14,511 |
Intangible Assets, Net | 39,652 | 34,626 |
TOTAL ASSETS | 40,989 | 49,137 |
Current Liabilities | ||
Accounts Payable | 5,988 | 31,828 |
Deferred Revenue | 3,293 | |
Related Party Loan | 36,350 | 16,380 |
Total Current Liabilities | 45,631 | 48,208 |
Total Liabilities | 45,631 | 48,208 |
Common Stock, $0.001 par value, 75,000,000 shares authorized, 5,025,000 and 5,000,000 shares issued and outstanding as of November 30, 2023 and February 28, 2023, respectively | 5,025 | 5,000 |
Additional Paid-In Capital | 475 | |
Accumulated Deficit | (10,142) | (4,071) |
Total Stockholder’ Equity (Deficit) | (4,642) | 929 |
TOTAL LIABILITIES & STOCKHOLDER’ EQUITY (DEFICIT) | $ 40,989 | $ 49,137 |
BALANCE SHEETS (Parenthetical)
BALANCE SHEETS (Parenthetical) - $ / shares | Nov. 30, 2023 | Feb. 28, 2023 |
Statement of Financial Position [Abstract] | ||
Common Stock Value Per Share | $ 0.001 | $ 0.001 |
CommonStockSharesAuthorized | 75,000,000 | 75,000,000 |
CommonStockSharesIssued | 5,025,000 | 5,000,000 |
CommonStockSharesOutstanding | 5,025,000 | 5,000,000 |
STATEMENT OF OPERATIONS
STATEMENT OF OPERATIONS - USD ($) | 3 Months Ended | 9 Months Ended | ||
Nov. 30, 2023 | Nov. 30, 2022 | Nov. 30, 2023 | Nov. 30, 2022 | |
Income Statement [Abstract] | ||||
Sales | $ 3,293 | $ 18,226 | ||
Total income | 3,293 | 18,226 | ||
Cost of goods sold | ||||
Gross (Loss) profit | 3,293 | 18,226 | ||
General and administrative expenses | 3,793 | 90 | 24,297 | 399 |
Total expenses | 3,793 | 90 | 24,297 | 399 |
Other income | 129 | 129 | ||
INCOME (LOSS) BEFORE TAX PROVISION | (500) | 39 | (6,071) | (270) |
INCOME TAX EXPENSE | ||||
NET LOSS | $ (500) | $ 39 | $ (6,071) | $ (270) |
WEIGHTED AVERAGE SHARES OUTSTANDING, BASIC AND DILUTED | 5,003,533 | 5,000,000 | 5,001,182 | 5,000,000 |
BASIC AND DILUTED NET LOSS PER SHARE | $ 0 | $ 0 | $ 0 | $ 0 |
Statements of Stockholders' Equ
Statements of Stockholders' Equity - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance, shares | 5,000,000 | |||
Beginning balance, value at Feb. 28, 2022 | $ 5,000 | $ (2,729) | $ 2,271 | |
Net income for the period | (90) | (90) | ||
Ending balance, value at May. 31, 2022 | 5,000 | (2,819) | 2,181 | |
Beginning balance, value at Feb. 28, 2022 | 5,000 | (2,729) | 2,271 | |
Net income for the period | (270) | |||
Ending balance, value at Nov. 30, 2022 | 5,000 | (2,999) | $ 2,001 | |
Balance, shares | 5,000,000 | |||
Beginning balance, value at May. 31, 2022 | 5,000 | (2,819) | $ 2,181 | |
Net income for the period | (219) | (219) | ||
Ending balance, value at Aug. 31, 2022 | 5,000 | (3,038) | $ 1,962 | |
Balance, shares | 5,000,000 | |||
Net income for the period | 39 | $ 39 | ||
Ending balance, value at Nov. 30, 2022 | 5,000 | (2,999) | $ 2,001 | |
Balance, shares | 5,000,000 | |||
Balance, shares | 5,000,000 | |||
Beginning balance, value at Feb. 28, 2023 | 5,000 | (4,071) | $ 929 | |
Net income for the period | (1,749) | (1,749) | ||
Ending balance, value at May. 31, 2023 | 5,000 | (5,820) | (820) | |
Beginning balance, value at Feb. 28, 2023 | 5,000 | (4,071) | 929 | |
Net income for the period | (6,071) | |||
Ending balance, value at Nov. 30, 2023 | 5,025 | 475 | (10,142) | $ (4,642) |
Balance, shares | 5,000,000 | |||
Beginning balance, value at May. 31, 2023 | 5,000 | (5,820) | $ (820) | |
Net income for the period | (3,822) | (3,822) | ||
Ending balance, value at Aug. 31, 2023 | 5,000 | (9,642) | $ (4,642) | |
Balance, shares | 5,000,000 | |||
Net income for the period | $ (500) | $ (500) | ||
Common shares issued for cash | 25 | 475 | 500 | |
shares issued for cash | 25,000 | |||
Ending balance, value at Nov. 30, 2023 | $ 5,025 | $ 475 | $ (10,142) | $ (4,642) |
Balance, shares | 5,025,000 |
STATEMENTS OF CASH FLOWS
STATEMENTS OF CASH FLOWS - USD ($) | 9 Months Ended | |
Nov. 30, 2023 | Nov. 30, 2022 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net (loss) | $ (6,071) | $ (270) |
Accumulated Depreciation | 1,974 | |
Increase (decrease) in deferred revenue | 3,293 | |
Decrease (increase) in prepaid expenses | 7,000 | |
Increase (decrease) in accounts payable | (25,840) | |
Net cash flows used in operating activities | (19,644) | (270) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Intangible Assets | (7,000) | |
Net cash flows used in investing activities | (7,000) | |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from the sale of common stock | 500 | |
Related-party loan | 19,970 | |
Net cash flows provided by financing activities | 20,470 | |
NET INCREASE (DECREASE) IN CASH | (6,174) | (270) |
CASH, BEGINNING OF PERIOD | 7,511 | 2,271 |
CASH, END OF PERIOD | 1,337 | 2,001 |
Cash paid for interest | ||
Cash paid for income tax |
ORGANIZATION AND DESCRIPTION OF
ORGANIZATION AND DESCRIPTION OF BUSINESS | 9 Months Ended |
Nov. 30, 2023 | |
Accounting Policies [Abstract] | |
ORGANIZATION AND DESCRIPTION OF BUSINESS | NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS Alixo-Yollo Corporation (“the Company”) was incorporated under the laws of the State of Nevada, U.S. on January 17, 2019 (Inception). Alixo-Yolloo Corporation has developed a personal assistant program called 'Alixo' and made the provision of music-recognition services the main focus of its activity. |
GOING CONCERN
GOING CONCERN | 9 Months Ended |
Nov. 30, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN | NOTE 2 - GOING CONCERN The financial statements have been prepared 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 has generated limited revenues since inception and incurred a loss of $6,071 and $270 for the nine months ended November 30, 2023 and 2022, respectively. The Company has incurred losses since inception resulting in an accumulated deficit of $10,142 as of November 30, 2023 and further losses are anticipated in the development of its business. Accordingly, there is substantial doubt about the Company’s ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with existing cash on hand and loans from directors and/or private placement of common stock. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Nov. 30, 2023 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. The Company has adopted a February 28 fiscal year end. The results for the nine months ended November 30, 2023, 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 Annual Report on Form 10-K for the year ended February 28, 2023, filed with the Securities and Exchange Commission. 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 instruments purchased with a maturity of three months or less to be cash equivalents to the extent the funds are not being held for investment purposes. 10 Fair Value of Financial Instruments ASC 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 fair value due to their short-term maturity. Software The Company follows the provisions of ASC 985, “Software”, which requires that all costs incurred be expensed until technological feasibility have been established. Impairment of Long-Lived Assets The Company continually monitors events and changes in circumstances that could indicate carrying amounts of long-lived assets may not be recoverable. When such events or changes in circumstances are present, the Company assesses the recoverability of long-lived assets by determining whether the carrying value of such assets will be recovered through undiscounted expected future cash flows. If the total of the future cash flows is less than the carrying amount of those assets, the Company recognizes an impairment loss based on the excess of the carrying amount over the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or the fair value less costs to sell. Property and Equipment Property and equipment are stated at cost and depreciated on the straight-line method over the estimated life of the asset, which is 3 years. Income Taxes The Company follows the liability method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences). The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. 11 Basic Income (Loss) Per Share The Company computes earnings (loss) per share in accordance with ASC 260-10-45 'Earnings per Share, which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic earnings (loss) per share is computed by dividing net earnings (loss) available to common stockholders by the weighted average number of outstanding common shares during the period. Diluted earnings (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive earnings (loss) per share excludes al potential common shares if their effect is anti-dilutive. The Company has no potential dilutive instruments, and therefore, basic and diluted earnings (loss) per share are equal. Dividends The Company has not adopted any policy regarding payment of dividends. No dividends have been paid during the period presented. Recent Accounting Pronouncements The Company has reviewed all the recent accounting pronouncements issued to date of the issuance of these financial statements, and does not believe any of these pronouncements will have a material impact on the Company other than those relating to Development Stage Entities discussed above. |
COMMON STOCK
COMMON STOCK | 9 Months Ended |
Nov. 30, 2023 | |
Earnings Per Share [Abstract] | |
COMMON STOCK | NOTE 4 – COMMON STOCK The Company has 75,000,000 common shares authorized with a par value of $ 0.001 per share. In July 2021 the Company issued 5,000,000 shares of its common stock at $0.001 per share for total proceeds of $5,000 to a related party (see NOTE 5). During November 2023 the Company issued 25,000 shares of common stock for cash proceeds of $500 at $0.02 per share. As of November 30, 2023, the Company had 5,025,000 |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 9 Months Ended |
Nov. 30, 2023 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 5 – RELATED PARTY TRANSACTIONS In support of the Company’s efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of its equity or traditional debt financing. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances were considered temporary in nature and were not formalized by a promissory note. As of November 30, 2023, the Company’s CEO and sole director had advanced the Company $ 36,350 In July 2021, the Company sold 5,000,000 shares of common stock at a price of $0.001 per share to its CEO and sole director. |
INTANGIBLE ASSETS
INTANGIBLE ASSETS | 9 Months Ended |
Nov. 30, 2023 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
INTANGIBLE ASSETS | NOTE 6 – INTANGIBLE ASSETS The Company follows the provisions of ASC 985, Software, which requires that all costs relating to the purchase or internal development and production of software products to be sold, leased or otherwise marketed, be expensed in the period incurred unless the requirements for technological feasibility have been established. The Company amortizes these costs using the straight-line method over the remaining estimated economic life of the product. 12 During the year ended February 28, 2023, the Company acquired application code for $17,820 and database for $17,000. During the nine months ended November 30, 2023, the Company capitalized website developments costs for $ 7,000 |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 9 Months Ended |
Nov. 30, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 7 – COMMITMENTS AND CONTINGENCIES Contractual Commitments The Company has entered into no contractual commitments as of November 30, 2023. Litigation The Company was not subject to any legal proceedings during the period from January 17, 2019 (Inception) to November 30, 2023 and no legal proceedings are currently pending or threatened to the best of our knowledge. |
INCOME TAX PROVISION
INCOME TAX PROVISION | 9 Months Ended |
Nov. 30, 2023 | |
Income Tax Disclosure [Abstract] | |
INCOME TAX PROVISION | NOTE 8 – INCOME TAX PROVISION Deferred Tax Assets As of November 30, 2023, the Company had net operating loss (“NOL”) carry–forwards for Federal income tax purposes of $10,142 that may be offset against future taxable income through 2040. No tax benefit has been recorded with respect to these net operating loss carry-forwards in the accompanying consolidated financial statements as the management of the Company believes that the realization of the Company’s net deferred tax assets of approximately $2,130 was not considered more likely than not and accordingly, the potential tax benefits of the net loss carry-forwards are offset by the full valuation allowance. Deferred tax assets consist primarily of the tax effect of NOL carry-forwards which was used to offset tax payable from prior year’s operations. The Company has provided a full valuation allowance on the deferred tax assets because of the uncertainty regarding its realization. The current valuation of tax allowance is not applicable as of November 30, 2023. Components of deferred tax assets Nine Months Ended November 30, 2023 Year Ended February 28, 2023 Net Deferred Tax Asset Non-Current: Net Operating Loss Carry-Forward $ 10,142 $ 4,071 Effective tax rate 21 % 21 % Expected Income Tax Benefit from NOL Carry-Forward 2,130 855 Less: Valuation Allowance (2,130) (855) Deferred Tax Asset, Net of Valuation Allowance $ - $ - 13 The actual tax benefit at the expected rate of 21% differs from the expected tax benefit Nine Months Ended November 30, 2023 Year Ended February 28, 2023 Computed “expected” tax expense (benefit) $ (1,275) $ (64) Change in valuation allowance $ 1,275 $ 64 Actual tax expense (benefit) $ - $ - |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Nov. 30, 2023 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 9 – SUBSEQUENT EVENTS The Company has evaluated subsequent events from November 30, 2023 to the date the financial statements were issued and has determined that there are no items to disclose other than those described below. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Nov. 30, 2023 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. The Company has adopted a February 28 fiscal year end. The results for the nine months ended November 30, 2023, 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 Annual Report on Form 10-K for the year ended February 28, 2023, filed with the Securities and Exchange Commission. |
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 instruments purchased with a maturity of three months or less to be cash equivalents to the extent the funds are not being held for investment purposes. 10 |
Fair Value of Financial Instruments | Fair Value of Financial Instruments ASC 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 fair value due to their short-term maturity. |
Software | Software The Company follows the provisions of ASC 985, “Software”, which requires that all costs incurred be expensed until technological feasibility have been established. |
Impairment of Long-Lived Assets | Impairment of Long-Lived Assets The Company continually monitors events and changes in circumstances that could indicate carrying amounts of long-lived assets may not be recoverable. When such events or changes in circumstances are present, the Company assesses the recoverability of long-lived assets by determining whether the carrying value of such assets will be recovered through undiscounted expected future cash flows. If the total of the future cash flows is less than the carrying amount of those assets, the Company recognizes an impairment loss based on the excess of the carrying amount over the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or the fair value less costs to sell. |
Property and Equipment | Property and Equipment Property and equipment are stated at cost and depreciated on the straight-line method over the estimated life of the asset, which is 3 years. |
Income Taxes | Income Taxes The Company follows the liability method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences). The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. 11 |
Basic Income (Loss) Per Share | Basic Income (Loss) Per Share The Company computes earnings (loss) per share in accordance with ASC 260-10-45 'Earnings per Share, which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic earnings (loss) per share is computed by dividing net earnings (loss) available to common stockholders by the weighted average number of outstanding common shares during the period. Diluted earnings (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive earnings (loss) per share excludes al potential common shares if their effect is anti-dilutive. The Company has no potential dilutive instruments, and therefore, basic and diluted earnings (loss) per share are equal. |
Dividends | Dividends The Company has not adopted any policy regarding payment of dividends. No dividends have been paid during the period presented. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements |
INCOME TAX PROVISION (Tables)
INCOME TAX PROVISION (Tables) | 9 Months Ended |
Nov. 30, 2023 | |
Income Tax Disclosure [Abstract] | |
deferred tax assets | Components of deferred tax assets Nine Months Ended November 30, 2023 Year Ended February 28, 2023 Net Deferred Tax Asset Non-Current: Net Operating Loss Carry-Forward $ 10,142 $ 4,071 Effective tax rate 21 % 21 % Expected Income Tax Benefit from NOL Carry-Forward 2,130 855 Less: Valuation Allowance (2,130) (855) Deferred Tax Asset, Net of Valuation Allowance $ - $ - |
expected tax benefit | The actual tax benefit at the expected rate of 21% differs from the expected tax benefit Nine Months Ended November 30, 2023 Year Ended February 28, 2023 Computed “expected” tax expense (benefit) $ (1,275) $ (64) Change in valuation allowance $ 1,275 $ 64 Actual tax expense (benefit) $ - $ - |
COMMON STOCK (Details Narrative
COMMON STOCK (Details Narrative) | Nov. 30, 2023 $ / shares |
Earnings Per Share [Abstract] | |
shares issued and outstanding | $ 5,025,000 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) | Nov. 30, 2023 USD ($) |
Related Party Transactions [Abstract] | |
sole director had advanced | $ 36,350 |
INTANGIBLE ASSETS (Details Narr
INTANGIBLE ASSETS (Details Narrative) | 9 Months Ended |
Nov. 30, 2023 USD ($) | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
website developments costs | $ 7,000 |
deferred tax assets (Details)
deferred tax assets (Details) - USD ($) | Nov. 30, 2023 | Feb. 28, 2023 |
Income Tax Disclosure [Abstract] | ||
Net Operating Loss Carry-Forward | $ 10,142 | $ 4,071 |
Expected Income Tax Benefit from NOL Carry-Forward | 2,130 | 855 |
Less: Valuation Allowance | (2,130) | (855) |
Deferred Tax Asset, Net of Valuation Allowance |
expected tax benefit (Details)
expected tax benefit (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Nov. 30, 2023 | Feb. 28, 2023 | |
Income Tax Disclosure [Abstract] | ||
Computed “expected” tax expense (benefit) | $ (1,275) | $ (64) |
Change in valuation allowance | 1,275 | 64 |
Actual tax expense (benefit) |