Conectisys (CONC) 10-Q 13 May 24 2024 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2024	May 01, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2024
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
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	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	true
Entity Shell Company	true
Entity Common Stock, Shares Outstanding		888,579

Unaudited Balance Sheets

Unaudited Balance Sheets - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 0	$ 0
Total current assets	0	0
Property and equipment, net	0	0
TOTAL ASSETS	0	0
Current liabilities
Accounts payable	31,994	31,694
Advances from officer	18,629	18,012
Total current liabilities	50,623	49,706
Total liabilities	50,623	49,706
Commitments and contingencies
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)	(32,297,064)	(32,296,147)
Total deficit	(50,623)	(49,706)
TOTAL LIABILITIES AND DEFICIT	$ 0	$ 0

Unaudited Balance Sheets (Paren

Unaudited Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common Stock, Par or Stated Value Per Share	$ 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
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
REVENUE	$ 0	$ 0
COST OF REVENUE	0	0
GROSS PROFIT (LOSS)	0	0
GENERAL AND ADMINISTRATIVE EXPENSES	917	2,087
NET (LOSS)	$ (917)	$ (2,087)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES
Basic	888,579	888,579
Diluted	888,579	888,579
(LOSS) PER SHARE
Basic	$ 0	$ 0
Diluted	$ 0	$ 0

Unaudited Statement of Changes

Unaudited Statement of Changes in Deficit - 3 months ended Mar. 31, 2024 - USD ($)	Total	Common Stock [Member]	Retained Earnings [Member]
Balances, December 31, 2023 at Dec. 31, 2023	$ (49,706)	$ 32,246,441	$ (32,296,147)
Shares, Outstanding, Beginning Balance at Dec. 31, 2023		888,579
Net loss	(917)		(917)
Balances, March 31, 2024 at Mar. 31, 2024	$ (50,623)	$ 32,246,441	$ (32,297,064)
Shares, Outstanding, Ending Balance at Mar. 31, 2024		888,579

Unaudited Statements of Cash Fl

Unaudited Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss)	$ (917)	$ (2,087)
Change in operating assets and liabilities
Accounts payable	300	200
Advances from officer	617	1,887
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

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure [Table]
Net Income (Loss)	$ (917)	$ (2,087)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual [Table]
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Nature of Business and Organiza

Nature of Business and Organization	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business and Organization	Note 1 - Nature of Business and Organization Conectisys Corporation (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 has not generated revenues since 2008. Operations: None Customers: None Employees: None

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
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 unaudited 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”). Cash and cash equivalents Cash and cash equivalents consist of amounts of cash on hand and bank deposits. 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 the implementation of recently issued accounting standards would have a material effect on its financial position, statements of operations, and cash flows. Subsequent events The Company evaluated subsequent events and transactions after June 30, 2022, 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
	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The accompanying unaudited 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”).
Cash and cash equivalents	Cash and cash equivalents Cash and cash equivalents consist of amounts of cash on hand and bank deposits.
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 the implementation of recently issued accounting standards would have a material effect on its financial position, statements of operations, and cash flows.
Subsequent events	Subsequent events The Company evaluated subsequent events and transactions after June 30, 2022, 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.