Prestige Capital (PGEC) 10-Q 12 Aug 22 2022 Q2 Quarterly report Financial data

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