Cover
Cover - shares | 6 Months Ended | |
Jun. 30, 2022 | Aug. 12, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Jun. 30, 2022 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2022 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 000-52855 | |
Entity Registrant Name | PRESTIGE CAPITAL CORPORATION | |
Entity Central Index Key | 0000790179 | |
Entity Tax Identification Number | 93-0945181 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 2157 S. Lincoln Street | |
Entity Address, Address Line Two | Suite 220 | |
Entity Address, City or Town | Salt Lake City | |
Entity Address, State or Province | UT | |
Entity Address, Postal Zip Code | 84106 | |
City Area Code | 801 | |
Local Phone Number | 323-3295 | |
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 | true | |
Entity Common Stock, Shares Outstanding | 3,332,200 |
Condensed Balance Sheets (Unaud
Condensed Balance Sheets (Unaudited) - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Current Assets | ||
Cash | $ 773 | $ 673 |
Total Current Assets | 773 | 673 |
Total Assets | 773 | 673 |
Current Liabilities | ||
Accounts payable – related party | 9,000 | 6,000 |
Accounts payable | 1,350 | 2,300 |
Accrued interest – related party | 72,277 | 64,362 |
Notes payable – related party | 201,015 | 194,515 |
Total Current Liabilities | 283,642 | 267,177 |
Total Liabilities | 283,642 | 267,177 |
Stockholders' Deficit | ||
Preferred stock - 10,000,000 shares authorized - None issued and outstanding | ||
Common stock - 100,000,000 shares authorized having a par value of $0.001 per share, 3,332,200 shares issued and outstanding | 3,332 | 3,332 |
Additional paid in capital | 713,573 | 713,573 |
Accumulated deficit | (999,774) | (983,409) |
Total Stockholders' Deficit | (282,869) | (266,504) |
Total Liabilities and Stockholders’ Deficit | $ 773 | $ 673 |
Condensed Balance Sheets (Una_2
Condensed Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Jun. 30, 2022 | Dec. 31, 2021 |
Statement of Financial Position [Abstract] | ||
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Common Stock, Shares Authorized | 100,000,000 | 100,000,000 |
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares, Issued | 3,332,200 | 3,332,200 |
Common Stock, Shares, Outstanding | 3,332,200 | 3,332,200 |
Condensed Statements of Operati
Condensed Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Income Statement [Abstract] | ||||
Revenues | ||||
Operating Expenses | ||||
General and administrative | 2,850 | 3,800 | 8,450 | 9,209 |
Loss from Operations | (2,850) | (3,800) | (8,450) | (9,209) |
Other Income (Expense) | ||||
Interest expense – related party | (4,020) | (3,636) | (7,915) | (7,246) |
Total Other Income (Expense) | (4,020) | (3,636) | (7,915) | (7,246) |
Loss before income taxes | (6,870) | (7,436) | (16,365) | (16,455) |
Income tax expense | ||||
Net Loss | $ (6,870) | $ (7,436) | $ (16,365) | $ (16,455) |
Basic and Diluted Loss Per Share | $ 0 | $ 0 | $ 0 | $ 0 |
Basic and Diluted Weighted Average Number of Common Shares Outstanding | 3,332,200 | 3,332,200 | 3,332,200 | 3,332,200 |
Condensed Statements of Stockho
Condensed Statements of Stockholders' Deficit (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Dec. 31, 2020 | $ 3,332 | $ 713,573 | $ (948,672) | $ (231,767) |
Shares, Outstanding, Beginning Balance at Dec. 31, 2020 | 3,332,200 | |||
Net loss | (9,019) | (9,019) | ||
Ending balance, value at Mar. 31, 2021 | $ 3,332 | 713,573 | (957,691) | (240,786) |
Shares, Outstanding, Ending Balance at Mar. 31, 2021 | 3,332,200 | |||
Beginning balance, value at Dec. 31, 2020 | $ 3,332 | 713,573 | (948,672) | (231,767) |
Shares, Outstanding, Beginning Balance at Dec. 31, 2020 | 3,332,200 | |||
Net loss | (16,455) | |||
Ending balance, value at Jun. 30, 2021 | $ 3,332 | 713,573 | (965,127) | (248,222) |
Shares, Outstanding, Ending Balance at Jun. 30, 2021 | 3,332,200 | |||
Beginning balance, value at Mar. 31, 2021 | $ 3,332 | 713,573 | (957,691) | (240,786) |
Shares, Outstanding, Beginning Balance at Mar. 31, 2021 | 3,332,200 | |||
Net loss | (7,436) | (7,436) | ||
Ending balance, value at Jun. 30, 2021 | $ 3,332 | 713,573 | (965,127) | (248,222) |
Shares, Outstanding, Ending Balance at Jun. 30, 2021 | 3,332,200 | |||
Beginning balance, value at Dec. 31, 2021 | $ 3,332 | 713,573 | (983,409) | (266,504) |
Shares, Outstanding, Beginning Balance at Dec. 31, 2021 | 3,332,200 | |||
Net loss | (9,495) | (9,495) | ||
Ending balance, value at Mar. 31, 2022 | $ 3,332 | 713,573 | (992,904) | (275,999) |
Shares, Outstanding, Ending Balance at Mar. 31, 2022 | 3,332,200 | |||
Beginning balance, value at Dec. 31, 2021 | $ 3,332 | 713,573 | (983,409) | (266,504) |
Shares, Outstanding, Beginning Balance at Dec. 31, 2021 | 3,332,200 | |||
Net loss | (16,365) | |||
Ending balance, value at Jun. 30, 2022 | $ 3,332 | 713,573 | (999,774) | (282,869) |
Shares, Outstanding, Ending Balance at Jun. 30, 2022 | 3,332,200 | |||
Beginning balance, value at Mar. 31, 2022 | $ 3,332 | 713,573 | (992,904) | (275,999) |
Shares, Outstanding, Beginning Balance at Mar. 31, 2022 | 3,332,200 | |||
Net loss | (6,870) | (6,870) | ||
Ending balance, value at Jun. 30, 2022 | $ 3,332 | $ 713,573 | $ (999,774) | $ (282,869) |
Shares, Outstanding, Ending Balance at Jun. 30, 2022 | 3,332,200 |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net Loss | $ (16,365) | $ (16,455) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Expenses paid by related party | 3,000 | 3,000 |
Changes in operating assets and liabilities | ||
Decrease in accounts payable | (950) | |
Increase in accrued interest – related party | 7,915 | 7,246 |
Net cash used in operating activities | (6,400) | (6,209) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from notes payable – related party | 6,500 | 3,000 |
Net cash provided by financing activities | 6,500 | 3,000 |
Net Increase (Decrease) in Cash | 100 | (3,209) |
Beginning Cash Balance | 673 | 4,695 |
Ending Cash Balance | 773 | 1,486 |
Supplemental Disclosures | ||
Interest expense | ||
Income taxes |
NOTE 1 _ CONDENSED FINANCIAL ST
NOTE 1 – CONDENSED FINANCIAL STATEMENTS | 6 Months Ended |
Jun. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
NOTE 1 – CONDENSED FINANCIAL STATEMENTS | NOTE 1 – CONDENSED FINANCIAL STATEMENTS The accompanying 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 as of and for the period ended June 30, 2022 and for all periods presented have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s December 31, 2021 audited financial statements as reported in its Form 10-K. The results of operations for the six-month period ended June 30, 2022 are not necessarily indicative of the operating results for the full year ended December 31, 2022. |
NOTE 2 _ GOING CONCERN
NOTE 2 – GOING CONCERN | 6 Months Ended |
Jun. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
NOTE 2 – GOING CONCERN | NOTE 2 – GOING CONCERN The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company has limited assets, has incurred losses since inception, has negative cash flows from operations, and has no revenue-generating activities. Its activities have been limited for the past several years and it is dependent upon financing to continue operations. These factors raise substantial doubt about the ability of the Company to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. It is management’s plan to acquire or merge with other operating companies. The COVID-19 pandemic could have an impact on our ability to obtain financing to fund our operations. The Company is unable to predict the ultimate impact at this time. |
NOTE 3 _ RELATED PARTY TRANSACT
NOTE 3 – RELATED PARTY TRANSACTIONS | 6 Months Ended |
Jun. 30, 2022 | |
Related Party Transactions [Abstract] | |
NOTE 3 – RELATED PARTY TRANSACTIONS | NOTE 3 – RELATED PARTY TRANSACTIONS During the six months ended June 30, 2022 and 2021, the Company borrowed $ 6,500 3,000 201,015 194,515 8 7,915 7,246 72,277 64,362 During the six months ended June 30, 2022 and 2021, a shareholder invoiced the Company for consulting, administrative and professional services and out-of-pocket costs provided or paid on behalf of the Company totaling $ 3,000 3,000 9,000 6,000 |
NOTE 4 _ SUBSEQUENT EVENTS
NOTE 4 – SUBSEQUENT EVENTS | 6 Months Ended |
Jun. 30, 2022 | |
Subsequent Events [Abstract] | |
NOTE 4 – SUBSEQUENT EVENTS | NOTE 4 – SUBSEQUENT EVENTS The Company’s management reviewed all material events through the date of this filing and has determined that there are no material subsequent events to report. |
NOTE 3 _ RELATED PARTY TRANSA_2
NOTE 3 – RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Related Party Transactions [Abstract] | |||||
Proceeds from Related Party Debt | $ 6,500 | $ 3,000 | |||
Notes Payable, Related Parties, Current | $ 201,015 | $ 201,015 | $ 194,515 | ||
Debt Instrument, Interest Rate During Period | 8% | 8% | |||
Interest Expense, Related Party | 4,020 | $ 3,636 | $ 7,915 | $ 7,246 | |
Accrued Liabilities and Other Liabilities | 72,277 | 72,277 | 64,362 | ||
Costs and Expenses, Related Party | 3,000 | $ 3,000 | |||
Accounts Payable, Related Parties, Current | $ 9,000 | $ 9,000 | $ 6,000 |