Strategic Acquisitions (STQN) 10-Q 14 Nov 22 2022 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2022	Nov. 10, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2022
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--12-31
Entity File Number	0-28963
Entity Registrant Name	STRATEGIC ACQUISITIONS, INC.
Entity Central Index Key	0000847942
Entity Tax Identification Number	13-3506506
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	30 Broad Street
Entity Address, Address Line Two	14th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10004
City Area Code	(212)
Local Phone Number	878-6532
Title of 12(g) Security	Common Stock
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	true
Entity Common Stock, Shares Outstanding		2,715,000

Balance Sheets

Balance Sheets - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash	$ 12,100	$ 39,732
Total current assets	12,100	39,732
Total assets	12,100	39,732
Current liabilities:
Accounts payable		2,000
Total current liabilities		2,000
Total liabilities		2,000
Stockholders’ equity:
Common stock, $0.001 par value; 50,000,000 shares authorized; 2,715,000 shares issued and outstanding	2,715	2,715
Additional paid-in capital	634,088	575,688
Accumulated deficit	(624,703)	(540,671)
Total stockholders’ equity	12,100	37,732
Total liabilities and stockholders’ equity	$ 12,100	$ 39,732

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
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	2,715,000	2,715,000
Common stock, shares outstanding	2,715,000	2,715,000

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenues
Expenses
General & Administrative	4,699	4,627	16,135	18,353
General & Administrative – related party	9,500		9,500
General & Administrative – stock-based compensation – related party warrants	58,400		58,400
Total Expenses	72,599	4,627	84,035	18,353
Other Income
Interest Income	1		3
Total Other Income	1		3
Net (loss) before provision for taxes	(72,598)	(4,627)	(84,032)	(18,353)
Income tax provision
Net (loss)	$ (72,598)	$ (4,627)	$ (84,032)	$ (18,353)
Net (Loss) Per Common Share – Basic	$ (0.03)	$ 0	$ (0.03)	$ (0.01)
Net (Loss) Per Common Share – Diluted	$ (0.03)	$ 0	$ (0.03)	$ (0.01)
Weighted average number of shares of common stock outstanding – Basic	2,715,000	2,562,283	2,715,000	2,530,934
Weighted average number of shares of common stock outstanding – Diluted	2,763,913	2,562,283	2,731,484	2,530,934

Statements of Stockholders' Equ

Statements of Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Dec. 31, 2020	$ 2,515	$ 535,888	$ (518,578)	$ 19,825
Beginning balance, shares at Dec. 31, 2020	2,515,000
Net loss			(10,126)	(10,126)
Ending balance, value at Mar. 31, 2021	$ 2,515	535,888	(528,704)	9,699
Ending balance, shares at Mar. 31, 2021	2,515,000
Beginning balance, value at Dec. 31, 2020	$ 2,515	535,888	(518,578)	19,825
Beginning balance, shares at Dec. 31, 2020	2,515,000
Net loss				(18,353)
Ending balance, value at Sep. 30, 2021	$ 2,715	575,688	(536,931)	41,472
Ending balance, shares at Sep. 30, 2021	2,715,000
Beginning balance, value at Mar. 31, 2021	$ 2,515	535,888	(528,704)	9,699
Beginning balance, shares at Mar. 31, 2021	2,515,000
Net loss			(3,600)	(3,600)
Ending balance, value at Jun. 30, 2021	$ 2,515	535,888	(532,304)	6,099
Ending balance, shares at Jun. 30, 2021	2,515,000
Net loss			(4,627)	(4,627)
Issuance of common stock on September 8, 2021 at $0.20 per share for cash	$ 150	29,850		30,000
Issuance of common stock on September 8, 2021, shares	150,000
Issuance of common stock on September 13, 2021 at $0.20 per share for cash	$ 50	9,950		10,000
Issuance of common stock on September 13, 2021, shares	50,000
Ending balance, value at Sep. 30, 2021	$ 2,715	575,688	(536,931)	41,472
Ending balance, shares at Sep. 30, 2021	2,715,000
Beginning balance, value at Dec. 31, 2021	$ 2,715	575,688	(540,671)	37,732
Beginning balance, shares at Dec. 31, 2021	2,715,000
Net loss			(5,304)	(5,304)
Ending balance, value at Mar. 31, 2022	$ 2,715	575,688	(545,975)	32,428
Ending balance, shares at Mar. 31, 2022	2,715,000
Beginning balance, value at Dec. 31, 2021	$ 2,715	575,688	(540,671)	37,732
Beginning balance, shares at Dec. 31, 2021	2,715,000
Net loss				(84,032)
Ending balance, value at Sep. 30, 2022	$ 2,715	634,088	(624,703)	12,100
Ending balance, shares at Sep. 30, 2022	2,715,000
Beginning balance, value at Mar. 31, 2022	$ 2,715	575,688	(545,975)	32,428
Beginning balance, shares at Mar. 31, 2022	2,715,000
Net loss			(6,130)	(6,130)
Ending balance, value at Jun. 30, 2022	$ 2,715	575,688	(552,105)	26,298
Ending balance, shares at Jun. 30, 2022	2,715,000
Net loss			(72,598)	(72,598)
Issuance of 150,000 warrants on August 31, 2022 at 0.39 fair value for services		58,400		58,400
Ending balance, value at Sep. 30, 2022	$ 2,715	$ 634,088	$ (624,703)	$ 12,100
Ending balance, shares at Sep. 30, 2022	2,715,000

Statements of Stockholders' E_2

Statements of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	Aug. 31, 2022	Sep. 13, 2021	Sep. 08, 2021
Statement of Stockholders' Equity [Abstract]
Warrants issued	150,000
Share issued price per share	$ 0.39	$ 0.20	$ 0.20

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended				9 Months Ended
	Sep. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Cash Flows from Operating Activities
Net (loss)	$ (72,598)	$ (5,304)	$ (4,627)	$ (10,126)	$ (84,032)	$ (18,353)
Adjustments to reconcile net (loss) to net cash (used in) operating activities:
Issuance of warrants for services – related party					58,400
Change in operating assets and liabilities:
Decrease in prepaid expense						500
(Decrease) in accounts payable					(2,000)	(205)
Net cash (used in) operating activities					(27,632)	(18,058)
Cash Flows from Financing Activities
Proceeds from issuance of common stock						40,000
Net cash flows from financing activities						40,000
Net increase (decrease) in cash					(27,632)	21,942
Cash at beginning of the period		$ 39,732		$ 19,530	39,732	19,530
Cash at end of the period	$ 12,100		$ 41,472		$ 12,100	$ 41,472

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2022
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, 2022 and 2021 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 8 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, 2022 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, 2021 included in the Company’s Annual Report on Form 10-K filed with the SEC on April 15, 2022. The balance sheet at December 31, 2021 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, 2022
Equity [Abstract]
Stockholders’ Equity	Note 2. Stockholders’ Equity The Company is authorized to issue 50,000,000 0.001 There were no issuances of Common Stock for the three- or nine-month periods ended September 30, 2022. The Company issued an aggregate of 150,000 are valid for a period of 5 1.20 The Company used the following as inputs for its valuation methodology for the warrant derivatives as their fair value was determined by using the Black-Scholes-Merton pricing model based on various assumptions. Weighted average assumptions used to estimate fair value are as follows: Schedule of Weighted Average Assumptions Used to Estimate Fair Value August 31, 2022 Expected volatility 213.78 % Expected Risk free interest rate 3.30 % Expected term (years) 5 Expected dividend rate 0.0 %

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Note 3. Related Party Transactions The Company may periodically issue 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. For the three- and nine-month periods ended September 30, 2022, the total payment for services to related parties was: $ 3,500 3,500 2,500 For the three- and nine-month periods ended September 30, 2021, there were no payments for services issued to officers or directors. As disclosed in Note 2, on August 31, 2022, the Company issued an aggregate of 150,000 58,400

Change in Control

Change in Control	9 Months Ended
	Sep. 30, 2022
Change In Control
Change in Control	Note 4. Change in Control On August 31, 2022, the Company underwent a change in control. As further discussed in Item 5 of this report, Exworth Management LLC (“Exworth”) became the controlling shareholder of the Company, and Yuanyuan Huang and Wei Huang, managing partners of Exworth, became officers and directors of the Company. Marika Tonay and Jonathan Braun resigned their respective positions with the Company.

Going Concern

Going Concern	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern	Note 5. 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 not generated any revenue since inception, incurred accumulated losses of $ 624,703 for the period from January 27, 1989 (Inception) through September 30, 2022 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 underwent a change in control during the quarter, including resignation of two officers/directors and appointment of two officers/directors. Management’s plans include that the Company will seek to fulfill the Company’s business plan to enter into a business combination, and while evaluating any such opportunities seek to minimize expenses and seek additional sources of capital as needed through the issuance of debt or equity financing. 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 business plan. The global pandemic, COVID-19, and deteriorating global economic conditions, including risk of recession, could adversely affect the Company’s ability to obtain additional financing or identify a potential merger or acquisition candidate. 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, 2022
Subsequent Events [Abstract]
Subsequent Events	Note 6. Subsequent Events In accordance with ASC Topic 855-10, the Company has analyzed its operations subsequent to September 30, 2022 to the date these financial statements were issued and has determined that it does not have any material subsequent events to disclose in these financial statements.

Stockholders_ Equity (Tables)

Stockholders’ Equity (Tables)	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Schedule of Weighted Average Assumptions Used to Estimate Fair Value	The Company used the following as inputs for its valuation methodology for the warrant derivatives as their fair value was determined by using the Black-Scholes-Merton pricing model based on various assumptions. Weighted average assumptions used to estimate fair value are as follows: Schedule of Weighted Average Assumptions Used to Estimate Fair Value August 31, 2022 Expected volatility 213.78 % Expected Risk free interest rate 3.30 % Expected term (years) 5 Expected dividend rate 0.0 %

Schedule of Weighted Average As

Schedule of Weighted Average Assumptions Used to Estimate Fair Value (Details) - Warrant [Member]	1 Months Ended
	Aug. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Expected volatility rate	213.78%
Expected risk free interest rate	3.30%
Expected term	5 years
Expected dividend rate	0%

Stockholders_ Equity (Details N

Stockholders’ Equity (Details Narrative) - $ / shares	Sep. 30, 2022	Aug. 31, 2022	Dec. 31, 2021
Equity [Abstract]
Common stock, shares authorized	50,000,000		50,000,000
Common stock, par value	$ 0.001		$ 0.001
Warrants issued		150,000
Warrants vested term		5 years
Purchase price per share		$ 1.20

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended	9 Months Ended
	Aug. 31, 2022	Sep. 30, 2022	Sep. 30, 2022
Related Party Transaction [Line Items]
Warrants issued	150,000
Fair value of warrants	$ 58,400
Westminster Securities Corp [Member]
Related Party Transaction [Line Items]
Payments for services to related party		$ 3,500	$ 3,500
Jonathan Braun [Member]
Related Party Transaction [Line Items]
Payments for services to related party		3,500	3,500
Marika Tonay [Member]
Related Party Transaction [Line Items]
Payments for services to related party		$ 2,500	$ 2,500

Going Concern (Details Narrativ

Going Concern (Details Narrative) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Accumulated loss	$ 624,703	$ 540,671
Inception from January 27, 1989 to September 30, 2022 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Accumulated loss	$ 624,703