Strategic Acquisitions (STQN) 10-Q 14 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Aug. 08, 2019
Document And Entity Information
Entity Registrant Name	STRATEGIC ACQUISITIONS INC /NV/
Entity Central Index Key	0000847942
Document Type	10-Q
Document Period End Date	Jun. 30, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Reporting Status Current	Yes
Entity Interactive Data Current	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	false
Entity Ex Transition Period	false
Entity Shell Company	true
Entity Common Stock, Shares Outstanding		2,515,000
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2019

Balance Sheets (Unaudited)

Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash	$ 99,670	$ 148,579
Prepaid rent - related party		1,750
Rent deposit - related party		3,500
Total current assets	99,670	153,829
Total assets	99,670	153,829
Current liabilities:
Accounts payable	1,939
Total current liabilities	1,939
Total liabilities	1,939
Stockholders' equity:
Common stock, $0.001 par value; 50,000,000 shares authorized; 2,515,000 shares issued and outstanding	2,515	2,515
Additional paid-in capital	535,888	535,888
Accumulated deficit	(440,672)	(384,574)
Total stockholders' equity	97,731	153,829
Total liabilities and stockholders' equity	$ 99,670	$ 153,829

Balance Sheets (Unaudited) (Par

Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	2,515,000	2,515,000
Common stock, shares outstanding	2,515,000	2,515,000

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Revenues
Expenses
General & Administrative	3,074	2,508	9,494	8,741
General & Administrative - related party	21,850	12,000	46,650	38,500
Total Expenses	24,924	14,508	56,144	47,241
Other Income
Interest Income	21	158	46	301
Total Other Income	21	158	46	301
Net (loss) before provision for taxes	(24,903)	(14,350)	(56,098)	(46,940)
Income tax provision
Net (loss)	$ (24,903)	$ (14,350)	$ (56,098)	$ (46,940)
Net (Loss) Per Common Share - Basic & Diluted	$ (0.01)	$ (0.01)	$ (0.02)	$ (0.02)
Weighted average number of shares of common stock outstanding - Basic & Diluted	2,515,000	2,515,000	2,515,000	2,515,000

Statements of Stockholders' Equ

Statements of Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Income (Loss)	Total
Balance beginning at Dec. 31, 2017	$ 2,515	$ 535,888	$ (288,993)	$ 249,410
Balance beginning, shares at Dec. 31, 2017	2,515,000
Net income (loss)			(32,590)	(32,590)
Balance ending at Mar. 31, 2018	$ 2,515	535,888	(321,583)	216,820
Balance ending, shares at Mar. 31, 2018	2,515,000
Balance beginning at Dec. 31, 2017	$ 2,515	535,888	(288,993)	249,410
Balance beginning, shares at Dec. 31, 2017	2,515,000
Net income (loss)				(46,940)
Balance ending at Jun. 30, 2018	$ 2,515	535,888	(335,933)	202,470
Balance ending, shares at Jun. 30, 2018	2,515,000
Balance beginning at Mar. 31, 2018	$ 2,515	535,888	(321,583)	216,820
Balance beginning, shares at Mar. 31, 2018	2,515,000
Net income (loss)			(14,350)	(14,350)
Balance ending at Jun. 30, 2018	$ 2,515	535,888	(335,933)	202,470
Balance ending, shares at Jun. 30, 2018	2,515,000
Balance beginning at Dec. 31, 2018	$ 2,515	535,888	(384,574)	153,829
Balance beginning, shares at Dec. 31, 2018	2,515,000
Net income (loss)			(31,195)	(31,195)
Balance ending at Mar. 31, 2019	$ 2,515	535,888	(415,769)	122,634
Balance ending, shares at Mar. 31, 2019	2,515,000
Balance beginning at Dec. 31, 2018	$ 2,515	535,888	(384,574)	153,829
Balance beginning, shares at Dec. 31, 2018	2,515,000
Net income (loss)				(56,098)
Balance ending at Jun. 30, 2019	$ 2,515	535,888	(440,672)	97,731
Balance ending, shares at Jun. 30, 2019	2,515,000
Balance beginning at Mar. 31, 2019	$ 2,515	535,888	(415,769)	122,634
Balance beginning, shares at Mar. 31, 2019	2,515,000
Net income (loss)			(24,903)	(24,903)
Balance ending at Jun. 30, 2019	$ 2,515	$ 535,888	$ (440,672)	$ 97,731
Balance ending, shares at Jun. 30, 2019	2,515,000

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended				6 Months Ended		365 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019
Cash Flows From Operating Activities
Net (loss)	$ (24,903)	$ (31,195)	$ (14,350)	$ (32,590)	$ (56,098)	$ (46,940)	$ (440,000)
Adjustments to reconcile net (loss) to net cash provided by (used in) operating activities:
(Increase) Decrease in prepaid rent - related party					1,750
(Increase) Decrease in security deposit - related party					3,500
Increase (Decrease) in accounts payable					1,939	567
Net cash provided by (used in) operating activities					(48,909)	(46,373)
Cash Flows From Financing Activities
Issuance of common stock, net of costs
Net cash provided by (used in) financing activities
Net increase (decrease) in cash					(48,909)	(46,373)
Cash at beginning of the period		$ 148,579		$ 244,160	148,579	244,160
Cash at end of the period	$ 99,670		$ 197,787		$ 99,670	$ 197,787	$ 99,670

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Note 1. Basis of Presentation The accompanying unaudited financial information as of and for the three and six months ended June 30, 2019 and 2018 has been prepared in accordance with generally accepted accounting principles (GAAP) in the U.S. for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (SEC) as set forth in the instructions to Quarterly Report on Form 10-Q and Article 10 of Regulation S-X. In the opinion of management, such financial information includes all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation of our financial position at such date and the operating results and cash flows for such periods. Operating results for the three and six months ended June 30, 2019 are not necessarily indicative of the results that may be expected for the entire year or for any other subsequent interim period. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted pursuant to the rules of the SEC. These unaudited financial statements and related notes should be read in conjunction with our audited financial statements for the year ended December 31, 2018 included in the Company’s Annual Report on Form 10-K filed with the SEC on April 1, 2019. The balance sheet at December 31, 2018 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by GAAP in the U.S. for complete financial statements.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Stockholders' Equity	Note 2. Stockholders’ Equity The Company is authorized to issue 50,000,000 shares of its $0.001 par value Common Stock. There were no issuances of common stock for the period ended June 30, 2019.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2019
Related Party Transactions [Abstract]
Related Party Transactions	Note 3. Related Party Transactions The Company had been renting office space from Westminster Securities Corp., an entity controlled by the Company’s President, John O’Shea, at the rate of $3,500 per month, in addition to having paid a $3,500 security deposit. Rent expense to Westminster Securities Corp. during the period was $5,250 for the three-month period and $15,750 for the six-month period ended June 30, 2019. The agreement terminated during the period as the Company transitioned to a new service agreement for office space on a month-to-month basis with a non-affiliated entity. The Company has adopted ASC 842 and evaluated the new service agreement under ASC 842 and determined that it qualifies for the short-term lease measurement and recognition exemption. The Company has periodically issued payment to certain officers and directors or their affiliates for services in connection with maintaining the Company’s financial statements and regulatory status in good standing and evaluating potential business opportunities. The total compensation issued during the three-month period ended June 30, 2019 to related parties was: $13,600 to Jonathan Braun, a director of the Company, and $3,000 to Marika Tonay, an officer and director of the Company. The officers and directors of the Company are involved in other business activities and may, in the future, become involved in other business opportunities. If a specific business opportunity becomes available, such persons may face a conflict in selecting between the Company and their other business interests. The Company has not formulated a policy for the resolution of such conflicts.

Going Concern

Going Concern	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern	Note 4. Going Concern The Company has incurred net losses of approximately $440,000 for the period from January 27, 1989 (Inception) through June 30, 2019 and has commenced limited operations, raising substantial doubt about the Company’s ability to continue as a going concern. The Company will seek additional sources of capital through the issuance of debt or equity financing, but there can be no assurance the Company will be successful in accomplishing its objectives. The ability of the Company to continue as a going concern is dependent on additional sources of capital and the success of the Company’s plan. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	Note 5. Subsequent Events The Company evaluates events that have occurred after the balance sheet date of June 30, 2019, through the date which the financial statements were issued. Based upon the review, the Company did not identify any recognized or non-recognized subsequent events that would have required adjustment or disclosure in the financial statements.

Stockholders' Equity (Details N

Stockholders' Equity (Details Narrative) - $ / shares	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Equity [Abstract]
Common stock, shares authorized	50,000,000	50,000,000
Common stock, par value	$ 0.001	$ 0.001
Number of shares issued during period

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Security deposit			$ 3,500
Westminster Securities Corp [Member]
Rent expense	5,250	15,750
Security deposit	3,500	3,500
Westminster Securities Corp [Member] | John O' Shea [Member]
Rent expense		$ 3,500
Jonathan Braun [Member]
Compensation for related party service	13,600
Marika Tonay [Member]
Compensation for related party service	$ 3,000

Going Concern (Details Narrativ

Going Concern (Details Narrative) - USD ($)	3 Months Ended				6 Months Ended		365 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net (loss)	$ (24,903)	$ (31,195)	$ (14,350)	$ (32,590)	$ (56,098)	$ (46,940)	$ (440,000)