Cover
Cover - shares | 3 Months Ended | |
Dec. 31, 2021 | Jan. 31, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Dec. 31, 2021 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2022 | |
Current Fiscal Year End Date | --09-30 | |
Entity File Number | 033-03560-D | |
Entity Registrant Name | CONECTISYS CORPORATION | |
Entity Central Index Key | 0000790273 | |
Entity Tax Identification Number | 84-1017107 | |
Entity Incorporation, State or Country Code | CO | |
Entity Address, Address Line One | 14308 S. Goss Road | |
Entity Address, City or Town | Cheney | |
Entity Address, State or Province | WA | |
Entity Address, Postal Zip Code | 99004 | |
City Area Code | (949) | |
Local Phone Number | 929-5455 | |
Entity Current Reporting Status | No | |
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 | true | |
Entity Shell Company | true | |
Entity Common Stock, Shares Outstanding | 888,579 |
UNAUDITED BALANCE SHEETS
UNAUDITED BALANCE SHEETS - USD ($) | Dec. 31, 2021 | Sep. 30, 2021 |
Statement of Financial Position [Abstract] | ||
Cash | $ 0 | $ 0 |
TOTAL ASSETS | 0 | 0 |
Current liabilities | ||
Accrued liabilities | 34,102 | 31,540 |
Total liabilities | 34,102 | 31,540 |
Commitments and contingencies | 0 | 0 |
Stockholders' Deficit | ||
Preferred stock | 0 | 0 |
Common stock - no par value; 250,000,000 shares authorized 888,579 shares issued and outstanding | 32,246,441 | 32,246,441 |
(Accumulated deficit) | (32,280,543) | (32,277,981) |
Deficit | (34,102) | (31,540) |
TOTAL LIABILITIES AND DEFICIT | $ 0 | $ 0 |
UNAUDITED BALANCE SHEETS (Paren
UNAUDITED BALANCE SHEETS (Parenthetical) - $ / shares | Dec. 31, 2021 | Sep. 30, 2021 |
Statement of Financial Position [Abstract] | ||
Common Stock, Par Value | $ 0 | $ 0 |
Common Stock, Shares Authorized | 250,000,000 | 250,000,000 |
Common Stock, Shares, Issued | 888,579 | 888,579 |
Common Stock, Shares, Outstanding | 888,579 | 888,579 |
UNAUDITED STATEMENTS OF OPERATI
UNAUDITED STATEMENTS OF OPERATIONS - USD ($) | 3 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Income Statement [Abstract] | ||
REVENUE | $ 0 | $ 0 |
COST OF REVENUE | 0 | 0 |
GROSS PROFIT (LOSS) | 0 | 0 |
GENERAL AND ADMINISTRATIVE EXPENSES | 2,562 | 2,850 |
NET (LOSS) | $ (2,562) | $ (2,850) |
WEIGHTED AVERAGE NUMBER OF COMMON SHARES* | ||
Basic and diluted | 888,579 | 370,241 |
(LOSS) PER SHARE | ||
Basic and diluted | $ 0 | $ (0.01) |
UNAUDITED STATEMENT OF CHANGES
UNAUDITED STATEMENT OF CHANGES IN EQUITY DEFICIT - 3 months ended Dec. 31, 2021 - USD ($) | Common Stock [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Sep. 30, 2021 | $ 32,246,441 | $ (32,277,981) | $ (31,540) |
Beginning balance, shares at Sep. 30, 2021 | 888,579 | ||
Net loss | (2,562) | (2,562) | |
Ending balance, value at Dec. 31, 2021 | $ 32,246,441 | $ (32,280,543) | $ (34,102) |
Ending balance, shares at Dec. 31, 2021 | 888,579 |
UNAUDITED STATEMENTS OF CASH FL
UNAUDITED STATEMENTS OF CASH FLOWS - USD ($) | 3 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net (loss) | $ (2,562) | $ (2,850) |
Change in operating assets and liabilities | ||
Accrued liabilities | 2,562 | 2,850 |
Net cash used in operating activities | 0 | 0 |
CASH FLOWS FROM INVESTING ACTIVITIES | 0 | 0 |
CASH FLOWS FROM FINANCING ACTIVITIES | 0 | 0 |
CHANGES IN CASH | 0 | 0 |
CASH AND CASH EQUIVALENT, beginning of period | 0 | 0 |
CASH AND CASH EQUIVALENT, end of period | 0 | 0 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Cash paid for income tax | 0 | 0 |
Cash paid for interest | $ 0 | $ 0 |
Nature of business and organiza
Nature of business and organization | 3 Months Ended |
Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of business and organization | Note 1 - Nature of business and organization ConectiSys Corporation (“Conectisys” or the “Company”) was incorporated in Colorado on February 2, 1986, under the name Coastal Financial Corp. On December 5, 1994, Coastal Financial Corp. changed its name to BDR Industries, Inc. which changed its name on October 16, 1995, to Conectisys Corporation. The Company was engaged in the development of a low-cost automatic meter reading, or AMR, solution until it ceased all business activity in 2008. Conectisys was an SEC reporting company until 2008. Its last Form 10-K, for the fiscal year 2007, was filed on Jan 4, 2008; its last Form 10-Q, for the three and nine months ended June 30, 2008, was filed on Septmber 15, 2008. As of June 30, 2008, Conectisys had notes payable aggregating $ 6,633,312 Of this total, several five-year notes aggregating $ 3,082,655 In the 3rd quarter of 2008 Conectisys was in default on its obligations to NIR by (1) failure to pay interest and (2) failure to maintain an active SB-2 filing for issuance of the convertible shares. In 2009, Conectisys failed to timely file its 2008 10-K Report. Conectisys was removed from trading on the OTC and began trading on the Pink Sheets. The balance of the convertible notes, aggregating $ 3,550,657 All the notes were due at various times from 2002 to 2008. There were no repayments and, after the six-year statute of limitations, all the notes and the related accrued interest, $ 498,132 Conectisys was a victim of predatory lending by Corey Ribotsky and his NIR Group, as evidenced by a civil complaint filed by the U.S. Securities & Exchange Commission (“SEC”) against Mr. Ribotsky, NIR and others on September 28, 2011 in Federal Court in the Eastern District of New York. To settle the SEC's related administrative proceedings, Ribotsky consented to be barred from any future association with any broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical rating organization. The statute of limitations to sue in contract matters or debt collection is 6 years in the State of New York which was the agreed upon jurisdiction by both Conectisys and NIR. Further, NIR and all its affiliates ceased to operate as a result of the SEC enforcement actions. As of April 2017, all obligations, notes, debt, warrants, and options are past their due dates and barred from any collection efforts since the time frame allowed by the statute of limitations for a legal action has expired. From November 2002 to March 2008, Conectisys issued an aggregate of 67,620,000 All such warrants and all stock options expired unexercised. All assets as of June 30, 2008, $ 172,581 As of June 30, 2008, the Company had $ 2,418,148 40,174 Accounts payable and other current liabilities were either partially paid or became null and void after the six-year statute of limitations. From its inception in 1986 through June 30, 2008, Conectisys had aggregate revenues of approximately $ 524,000 Operations: None Customers: None Employees: None |
Basis of Presentation and Summa
Basis of Presentation and Summary of significant accounting policies | 3 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Summary of significant accounting policies | Note 2 Basis of Presentation and Summary of significant accounting policies Basis of presentation The accompanying financial statements have been prepared in accordance with the generally accepted accounting principles in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities Exchange Commission (“SEC”). The Company’s fiscal year ends on September 30. Use of estimates and assumptions The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts of assets and liabilities reported and disclosures of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the periods presented. Actual results could differ from these estimates. Income taxes The Company accounts for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their perspective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which the temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are recorded, when necessary, to reduce deferred tax assets to the amount expected to be realized. Commitments and Contingencies In the ordinary course of business, the Company is subject to certain contingencies, including legal proceedings and claims arising out of the business that relate to a wide range of matters, such as government investigations and tax matters. The Company recognizes a liability for such contingency if it determines it is probable that a loss has occurred and a reasonable estimate of the loss can be made. The Company may consider many factors in making these assessments including historical and specific facts and circumstances of each matter. Loss per share Basic loss per share is computed by dividing net loss by the weighted average number of common stock outstanding during the period. Recently issued accounting pronouncements The Company does not believe that recently issued accounting standards have a material effect on its financial position, statements of operations and cash flows. Subsequent event The Company evaluated subsequent events and transactions after December 31, 2021 through the date that these unaudited financial statements are available to be issued. There are no material subsequent events that required recognition or additional disclosure in the financial statements. Going concern The accompanying financial statements have been prepared in conformity with generally accepted accounting principles, which contemplate continuation of the Company as a going concern. Additional capital infusion is necessary in order to fund current expenditures, acquire business opportunities and achieve profitable operations. This factor raises substantial doubt about the Company’s ability to continue as a going concern. |
Basis of Presentation and Sum_2
Basis of Presentation and Summary of significant accounting policies (Policies) | 3 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Basis of presentation | Basis of presentation The accompanying financial statements have been prepared in accordance with the generally accepted accounting principles in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities Exchange Commission (“SEC”). The Company’s fiscal year ends on September 30. |
Use of estimates and assumptions | Use of estimates and assumptions The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts of assets and liabilities reported and disclosures of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the periods presented. Actual results could differ from these estimates. |
Income taxes | Income taxes The Company accounts for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their perspective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which the temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are recorded, when necessary, to reduce deferred tax assets to the amount expected to be realized. |
Commitments and Contingencies | Commitments and Contingencies In the ordinary course of business, the Company is subject to certain contingencies, including legal proceedings and claims arising out of the business that relate to a wide range of matters, such as government investigations and tax matters. The Company recognizes a liability for such contingency if it determines it is probable that a loss has occurred and a reasonable estimate of the loss can be made. The Company may consider many factors in making these assessments including historical and specific facts and circumstances of each matter. |
Loss per share | Loss per share Basic loss per share is computed by dividing net loss by the weighted average number of common stock outstanding during the period. |
Recently issued accounting pronouncements | Recently issued accounting pronouncements The Company does not believe that recently issued accounting standards have a material effect on its financial position, statements of operations and cash flows. |
Subsequent event | Subsequent event The Company evaluated subsequent events and transactions after December 31, 2021 through the date that these unaudited financial statements are available to be issued. There are no material subsequent events that required recognition or additional disclosure in the financial statements. |
Going concern | Going concern The accompanying financial statements have been prepared in conformity with generally accepted accounting principles, which contemplate continuation of the Company as a going concern. Additional capital infusion is necessary in order to fund current expenditures, acquire business opportunities and achieve profitable operations. This factor raises substantial doubt about the Company’s ability to continue as a going concern. |
Nature of business and organi_2
Nature of business and organization (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | |
Jun. 30, 2008 | Dec. 31, 2021 | Dec. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
Notes payable | $ 6,633,312 | ||
Payable to affiliates amount | $ 3,082,655 | ||
Convertible notes payable | $ 3,550,657 | ||
Accrued interest | 498,132 | ||
Number of shares convertible | 67,620,000 | ||
Assets amortized | 172,581 | ||
Accrued compensation | 2,418,148 | ||
Due to officers | 40,174 | ||
Sale of revenue | $ 524,000 | $ 0 | $ 0 |