Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2019 | Nov. 11, 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 | Sep. 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 | Q3 | |
Document Fiscal Year Focus | 2019 |
Balance Sheets (Unaudited)
Balance Sheets (Unaudited) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Current assets: | ||
Cash | $ 81,172 | $ 148,579 |
Prepaid rent - related party | 1,750 | |
Rent deposit - related party | 3,500 | |
Total current assets | 81,172 | 153,829 |
Total assets | 81,172 | 153,829 |
Current liabilities: | ||
Accounts payable | ||
Total current liabilities | ||
Total liabilities | ||
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 | (457,231) | (384,574) |
Total stockholders' equity | 81,172 | 153,829 |
Total liabilities and stockholders' equity | $ 81,172 | $ 153,829 |
Balance Sheets (Unaudited) (Par
Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Sep. 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 | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Income Statement [Abstract] | ||||
Revenues | ||||
Expenses | ||||
General & Administrative | 3,872 | 2,380 | 13,366 | 11,121 |
General & Administrative - related party | 12,700 | 27,000 | 59,350 | 65,500 |
Total Expenses | 16,572 | 29,380 | 72,716 | 76,621 |
Other Income | ||||
Interest Income | 13 | 32 | 59 | 333 |
Total Other Income | 13 | 32 | 59 | 333 |
Net (loss) before provision for taxes | (16,559) | (29,348) | (72,657) | (76,288) |
Income tax provision | ||||
Net (loss) | $ (16,559) | $ (29,348) | $ (72,657) | $ (76,288) |
Net (Loss) Per Common Share - Basic & Fully Diluted | $ (0.01) | $ (0.01) | $ (0.03) | $ (0.03) |
Weighted average number of shares of common stock outstanding - Basic & Fully 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 (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 (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 (loss) | (76,288) | |||
Balance ending at Sep. 30, 2018 | $ 2,515 | 535,888 | (365,281) | 173,122 |
Balance ending, shares at Sep. 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 (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 | |||
Net (loss) | (29,348) | (29,348) | ||
Balance ending at Sep. 30, 2018 | $ 2,515 | 535,888 | (365,281) | 173,122 |
Balance ending, shares at Sep. 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 (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 (loss) | (72,657) | |||
Balance ending at Sep. 30, 2019 | $ 2,515 | 535,888 | (457,231) | 81,172 |
Balance ending, shares at Sep. 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 (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 | |||
Net (loss) | (16,559) | (16,559) | ||
Balance ending at Sep. 30, 2019 | $ 2,515 | $ 535,888 | $ (457,231) | $ 81,172 |
Balance ending, shares at Sep. 30, 2019 | 2,515,000 |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | 365 Months Ended | ||||
Sep. 30, 2019 | Mar. 31, 2019 | Sep. 30, 2018 | Mar. 31, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | |
Cash Flows From Operating Activities | |||||||
Net (loss) | $ (16,559) | $ (31,195) | $ (29,348) | $ (32,590) | $ (72,657) | $ (76,288) | $ (457,000) |
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 | ||||||
Net cash provided by (used in) operating activities | (67,407) | (76,288) | |||||
Net increase (decrease) in cash and cash equivalents | (67,407) | (76,288) | |||||
Cash and cash equivalents at beginning of the period | $ 148,579 | $ 244,160 | 148,579 | 244,160 | |||
Cash and cash equivalents at end of the period | $ 81,172 | $ 167,872 | $ 81,172 | $ 167,872 | $ 81,172 |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 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 nine months ended September 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 nine months ended September 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 | 9 Months Ended |
Sep. 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 September 30, 2019. |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Sep. 30, 2019 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note 3. Related Party Transactions 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. Additionally, the Company previously rented office space from Westminster Securities Corp. (“Westminster”), an entity controlled by the Company’s President, John O’Shea. The total compensation issued during the three-month period ended September 30, 2019 to related parties was: $11,200 to Jonathan Braun, a director of the Company, and $1,500 to Marika Tonay, an officer and director of the Company. For the nine-month period ended September 30, 2019, rent expense to Westminster was $15,750 and compensation for services to Jonathan Braun was $37,300, to Westminster was $1,800 and to Marika Tonay was $4,500. For the comparable prior year periods, compensation to Jonathan Braun was $10,000 for the three-month and $20,000 for the nine-month periods, compensation to Marika Tonay was $1,500 for the three-month and $6,000 for the nine-month periods, compensation to Westminster was $3,000 for the nine-month period, compensation to John O’Shea was $5,000 for the three- and nine-month periods and rent expense to Westminster was $10,500 for the three-month and $31,500 for the nine-month periods. 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 | 9 Months Ended |
Sep. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern | Note 4. Going Concern The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The Company has incurred net losses of approximately $457,000 for the period from January 27, 1989 (Inception) through September 30, 2019 and has commenced limited operations. These factors, among others, raise 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 | 9 Months Ended |
Sep. 30, 2019 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 5. Subsequent Events The Company evaluates events that have occurred after the balance sheet date of September 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 | 9 Months Ended | |
Sep. 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 | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Jonathan Braun [Member] | ||||
Compensation for related party service | $ 11,200 | $ 10,000 | $ 37,300 | $ 20,000 |
Marika Tonay [Member] | ||||
Compensation for related party service | $ 1,500 | 1,500 | 4,500 | 6,000 |
Westminster [Member] | ||||
Compensation for related party service | 1,800 | 3,000 | ||
Rent expense | 10,500 | $ 15,750 | 31,500 | |
John O'Shea Member [Member] | ||||
Compensation for related party service | $ 5,000 | $ 5,000 |
Going Concern (Details Narrativ
Going Concern (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | 365 Months Ended | ||||||
Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||
Net (loss) | $ (16,559) | $ (24,903) | $ (31,195) | $ (29,348) | $ (14,350) | $ (32,590) | $ (72,657) | $ (76,288) | $ (457,000) |