Oyocar 10-Q 3 Jan 25 2025 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Nov. 30, 2024	Dec. 31, 2024
Cover [Abstract]
Entity Registrant Name	OYOCAR GROUP INC.
Entity Central Index Key	0001994582
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--08-31
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Current Reporting Status	Yes
Document Period End Date	Nov. 30, 2024
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2025
Entity Ex Transition Period	false
Entity Common Stock Shares Outstanding		15,337,250
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	333-275980
Entity Incorporation State Country Code	NV
Entity Tax Identification Number	98-1742455
Entity Address Address Line 1	Colinas Marinas
Entity Address Address Line 2	Marbellas, Villa 10
Entity Address City Or Town	Sosua
Entity Address Country	DO
Entity Address Postal Zip Code	57000
City Area Code	829
Local Phone Number	859-0389
Entity Interactive Data Current	Yes

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Nov. 30, 2024	Aug. 31, 2024
Current Assets
Cash and cash equivalents	$ 3,224	$ 42,620
Prepaid expenses	0	26,782
Accounts receivable	0	2,259
Total current assets	3,224	71,661
Non-Current Assets
Computer and Software	3,141	3,338
Inventory	74,667	15,851
Total non-current assets	77,808	19,189
TOTAL ASSETS	81,032	90,850
Current Liabilities
Advances from related party	15,803	15,803
Accounts payable	10,925	0
Prepaid sales deposit	30,835	20,605
Total current liabilities	57,563	36,408
Total Liabilities	57,563	36,408
Stockholders' Equity
Common stock, $0.001 par value, 75,000,000 shares authorized; 15,337,250 shares issued and outstanding	15,337	15,337
Common stock subscribed, 7,985,000 shares	0	0
Additional paid-in-capital	63,693	63,693
Accumulated deficit	(55,561)	(24,588)
Total Stockholders' Equity	23,469	54,442
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 81,032	$ 90,850

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - $ / shares	Nov. 30, 2024	Aug. 31, 2024
BALANCE SHEETS
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	15,337,250	15,337,250
Common stock, shares outstanding	15,337,250	15,337,250
Stock subscription	7,985,000	0

STATEMENTS OF OPERATIONS (Unaud

STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended
	Nov. 30, 2024	Nov. 30, 2023
OPERATING EXPENSES
General and administrative expenses	$ 30,973	$ 8,066
Total operating expenses	(30,973)	(8,066)
Loss before provision for income taxes	(30,973)	(8,066)
Provision for income taxes	0	0
Net loss	$ (30,973)	$ (8,066)
Earning paer share
Basic and Diluted	$ 0	$ 0
Weighted Average Number of Common Shares Outstanding:
Basic and Diluted	15,337,250	11,985,000

STATEMENT OF CHANGES IN STOCKHO

STATEMENT OF CHANGES IN STOCKHOLDERS EQUITY (Unaudited) - USD ($)	Total	Common Stock	Common Stock Subscribed	Additional Paid-In Capital	Retained Earnings (Accumulated Deficit)
Balance, shares at Aug. 31, 2023		11,985,000
Balance, amount at Aug. 31, 2023	$ 3,012	$ 11,985	$ (7,985)	$ 0	$ (988)
Shares issued, Amount	7,985	0	7,985	0	0
Net loss for the period ended	(8,066)	$ 0	0	0	(8,066)
Balance, shares at Nov. 30, 2023		11,985,000
Balance, amount at Nov. 30, 2023	2,931	$ 11,985	0	0	(9,054)
Balance, shares at Aug. 31, 2024		15,337,250
Balance, amount at Aug. 31, 2024	54,442	$ 15,337	0	63,693	(24,588)
Net loss for the period ended	(30,973)	$ 0	0	0	(30,973)
Balance, shares at Nov. 30, 2024		15,337,250
Balance, amount at Nov. 30, 2024	$ 23,469	$ 11,985	$ 0	$ 0	$ (55,561)

STATEMENT OF CASH FLOWS (Unaudi

STATEMENT OF CASH FLOWS (Unaudited) - USD ($)	3 Months Ended
	Nov. 30, 2024	Nov. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (30,973)	$ (8,066)
Amortization	197	11
Increase (Decrease) in Prepaid Sales	10,230
Accounts Receivable	2,259
Inventory	(58,816)
Prepaid Expenses	26,782
Increase (Decrease) in Operating liabilities:
Accounts payable	10,925
Net cash used in operating activities	(39,396)	(8,055)
CASH FLOWS FROM INVESTING ACTIVITIES
Computer	0	(440)
Website	0	(3,500)
Net cash used in investing activities	0	(3,940)
CASH FLOWS FROM FINANCING ACTIVITIES
Advances from related party	0	440
Proceeds from shares subscribed	0	7,985
Net cash provided by financing activities	0	8,425
Change in cash and equivalents	(39,396)	(3,570)
Cash and equivalents at beginning of the period	42,620	4,000
Cash and equivalents at end of the period	3,224	430
Cash paid for:
Interest	0	0
Taxes	0	0
NON-CASH ACTIVITIES:	$ 0	$ 0

ORGANIZATION AND BUSINESS

ORGANIZATION AND BUSINESS	3 Months Ended
	Nov. 30, 2024
ORGANIZATION AND BUSINESS
ORGANIZATION AND BUSINESS	NOTE 1 – ORGANIZATION AND BUSINESS OYOCAR GROUP INC. (the “Company”) is a corporation established under the corporation laws in the State of Nevada on July 10, 2023. The Company is in the business of selling used automobiles in the USA and Dominican Republic. The Company has adopted a August 31 fiscal year end.

GOING CONCERN

GOING CONCERN	3 Months Ended
	Nov. 30, 2024
GOING CONCERN
GOING CONCERN	NOTE 2 – GOING CONCERN The Company’s financial statements as of November 30, 2024 have been prepared using generally accepted accounting principles in the United States of America (“GAAP”) applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. The Company has accumulated losses from inception (July 10, 2023) to November 30, 2024 of $55,561. These factors among others raise substantial doubt about the ability of the company to continue as a going concern for a reasonable period of time. In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking third party equity and/or debt financing. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. These financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Nov. 30, 2024
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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. Cash and Cash Equivalents For purposes of the statement of cash flows, the Company considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. As of November 30, 2024, the company has $3,224 in the bank account. New Accounting Pronouncements There were various accounting standards and interpretations issued recently, none of which are expected to a have a material impact on our financial position, operations or cash flows. Fair Value of Financial Instruments Accounting Standards Codification (“ASC”) 825, “Disclosures about Fair Value of Financial Instruments”, requires disclosure of fair value information about financial instruments. ASC 820, “Fair Value Measurements” defines fair value, establishes a framework for measuring fair value in GAAP, and expands disclosures about fair value measurements. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of November 30, 2024. The respective carrying values of certain on-balance-sheet financial instruments approximate their fair values. These financial instruments include accounts payable and advances from related party. Fair values were assumed to approximate carrying values for these financial instruments since they are short term in nature and their carrying amounts approximate fair value. Use of Estimates and Assumptions The preparation of financial statements in conformity with GAAP 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 of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates. Due to the limited level of operations, the Company has not had to make material assumptions or estimates other than the assumption that the Company is a going concern. Income Taxes Income taxes are provided in accordance with ASC 740, “Accounting for Income Taxes”. 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 or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. Revenue Recognition The Company recognizes revenue in accordance with ASC Topic 606, “Revenue from Contracts with Customers”, and all related interpretations for recognition of our revenue from tours and services. Revenue is recognized when the following criteria are met: - Identification of the contract, or contracts, with customer; - Identification of the performance obligations in the contract; - Determination of the transaction price; - Allocation of the transaction price to the performance obligations in the contract; and - Recognition of revenue when, or as, we satisfy performance obligation. Earnings per Share The company adheres to the provision of ASC 260, “Earnings Per Share”, which specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock. Basic net loss per share amounts is computed by dividing the net loss by the weighted average number of common shares outstanding. Diluted earnings per share are the same as basic earnings per share due to the lack of dilutive items in the Company.

CAPITAL STOCK

CAPITAL STOCK	3 Months Ended
	Nov. 30, 2024
CAPITAL STOCK
CAPITAL STOCK	NOTE 4 – CAPITAL STOCK The Company has 75,000,000 shares of common stock authorized with a par value of $0.001 per share. As of November 30, 2024, the Company had 15,337,250 shares issued and outstanding.

FIXED ASSETS, NET

FIXED ASSETS, NET	3 Months Ended
	Nov. 30, 2024
FIXED ASSETS, NET
FIXED ASSETS, NET	NOTE 5 – FIXED ASSETS, NET Fixed assets at November 30, 2024, are summarized as follows: Estimated Useful Life (In years) November 30, 2024 Website 5 3,500 Computer 5 440 3,940 Less: Accumulated depreciation (799 ) $ 3,141

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Nov. 30, 2024
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 6 – 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. There is no formal written commitment for continued support by officers, directors, or shareholders. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances are considered temporary in nature and have not been formalized by a promissory note. Since July 10, 2023 (Inception) through November 30, 2024, the Company’s sole officer and director loaned the Company $15,803. As of November 30, 2024, the amount outstanding was $15,803. The loan is non-interest bearing, due upon demand and unsecured.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Nov. 30, 2024
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 7 – SUBSEQUENT EVENTS The Company has evaluated subsequent events from November 30, 2024 to December 31, 2024 and has determined that there are no items to disclose.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Nov. 30, 2024
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.
Cash and Cash Equivalents	For purposes of the statement of cash flows, the Company considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. As of November 30, 2024, the company has $3,224 in the bank account.
New Accounting Pronouncements	There were various accounting standards and interpretations issued recently, none of which are expected to a have a material impact on our financial position, operations or cash flows.
Fair Value of Financial Instruments	Accounting Standards Codification (“ASC”) 825, “Disclosures about Fair Value of Financial Instruments”, requires disclosure of fair value information about financial instruments. ASC 820, “Fair Value Measurements” defines fair value, establishes a framework for measuring fair value in GAAP, and expands disclosures about fair value measurements. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of November 30, 2024. The respective carrying values of certain on-balance-sheet financial instruments approximate their fair values. These financial instruments include accounts payable and advances from related party. Fair values were assumed to approximate carrying values for these financial instruments since they are short term in nature and their carrying amounts approximate fair value.
Use of Estimates and Assumptions	The preparation of financial statements in conformity with GAAP 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 of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates. Due to the limited level of operations, the Company has not had to make material assumptions or estimates other than the assumption that the Company is a going concern.
Income Taxes	Income taxes are provided in accordance with ASC 740, “Accounting for Income Taxes”. 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 or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.
Revenue Recognition	The Company recognizes revenue in accordance with ASC Topic 606, “Revenue from Contracts with Customers”, and all related interpretations for recognition of our revenue from tours and services. Revenue is recognized when the following criteria are met: - Identification of the contract, or contracts, with customer; - Identification of the performance obligations in the contract; - Determination of the transaction price; - Allocation of the transaction price to the performance obligations in the contract; and - Recognition of revenue when, or as, we satisfy performance obligation.
Earnings per Share	The company adheres to the provision of ASC 260, “Earnings Per Share”, which specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock. Basic net loss per share amounts is computed by dividing the net loss by the weighted average number of common shares outstanding. Diluted earnings per share are the same as basic earnings per share due to the lack of dilutive items in the Company.

FIXED ASSETS, NET (Tables)

FIXED ASSETS, NET (Tables)	3 Months Ended
	Nov. 30, 2024
FIXED ASSETS, NET
Schedule of fixed assets	Estimated Useful Life (In years) November 30, 2024 Website 5 3,500 Computer 5 440 3,940 Less: Accumulated depreciation (799 ) $ 3,141

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	Nov. 30, 2024	Aug. 31, 2024
GOING CONCERN
Accumulated deficit	$ (55,561)	$ (24,588)

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	Nov. 30, 2024 USD ($)
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Cash and cash equivalents	$ 3,224

CAPITAL STOCK (Details Narrativ

CAPITAL STOCK (Details Narrative) - $ / shares	Nov. 30, 2024	Aug. 31, 2024
CAPITAL STOCK
Common stock, shares par value	$ 0.001	$ 0.001
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	15,337,250	15,337,250
Common stock, shares outstanding	15,337,250	15,337,250

FIXED ASSETS, NET (Details)

FIXED ASSETS, NET (Details)	3 Months Ended
	Nov. 30, 2024 USD ($)
Total fixed assets	$ 3,940
Less: Accumulated depreciation	(799)
Total fixed assets, net	$ 3,141
Website
Estimated Useful Life	5 years
Total fixed assets	$ 3,500
Computer
Estimated Useful Life	5 years
Total fixed assets	$ 440

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	Nov. 30, 2024	Aug. 31, 2024
Advances from related party	$ 15,803	$ 15,803
Sole Officer And Director [Member]
Advances from related party	$ 15,803