Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Feb. 29, 2020 | Apr. 14, 2020 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Feb. 29, 2020 | |
Entity Registrant Name | China Elite Information Co., Ltd. | |
Entity Central Index Key | 0001077561 | |
Current Fiscal Year End Date | --11-30 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2020 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Shell Company | true | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | false | |
Entity Common Stock, Shares Outstanding | 11,200,000 | |
Entity Interactive Data Current | Yes | |
Entity Current Reporting Status | Yes | |
Entity Incorporation, State or Country Code | VI | |
Entity File Number | 000-25591 | |
Document Quarterly Report | true | |
Document Transition Report | false |
INTERIM BALANCE SHEETS
INTERIM BALANCE SHEETS - USD ($) | Feb. 29, 2020 | Nov. 30, 2019 |
ASSETS | ||
Total assets | ||
Current Liabilities | ||
Accounts payable and accrued expenses | 1,638 | 13,880 |
Loans from shareholder | 859,341 | 845,261 |
Total current liabilities | 860,979 | 859,141 |
Commitments and contingencies | ||
Stockholders' deficiency | ||
Preferred stock: $0.01 par value; 10,000,000 shares authorized; issued and outstanding: none | ||
Common stock: $0.01 par value; 50,000,000 shares authorized; issued and outstanding: 11,200,000 | 112,000 | 112,000 |
Additional paid-in capital | 154,465 | 154,465 |
Deficit accumulated | (1,127,444) | (1,125,606) |
Total stockholders' deficiency | (860,979) | (859,141) |
Total liabilities and stockholders' deficiency |
INTERIM BALANCE SHEETS (Parenth
INTERIM BALANCE SHEETS (Parenthetical) - $ / shares | Feb. 29, 2020 | Nov. 30, 2019 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value per share | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value per share | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 50,000,000 | 50,000,000 |
Common Stock, shares issued | 11,200,000 | 11,200,000 |
Common Stock, shares outstanding | 11,200,000 | 11,200,000 |
INTERIM STATEMENTS OF OPERATION
INTERIM STATEMENTS OF OPERATIONS (Unaudited) - USD ($) | 3 Months Ended | |
Feb. 29, 2020 | Feb. 28, 2019 | |
Income Statement [Abstract] | ||
Revenues | ||
General and administrative expenses | ||
General and administrative | 1,838 | 2,562 |
Total general and administrative expenses | 1,838 | 2,562 |
Operating loss | (1,838) | (2,562) |
Other income (expense) | ||
Total other income (expense) | ||
Net loss | $ (1,838) | $ (2,562) |
Basic net loss per share | $ 0 | $ 0 |
Weighted average shares outstanding | 11,200,000 | 11,200,000 |
INTERIM STATEMENTS OF CHANGES I
INTERIM STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIENCY EQUITY (Unaudited) - USD ($) | Common Shares [Member] | Additional Paid In Capital [Member] | Accumulated Deficit [Member] | Total |
Balance at Nov. 30, 2018 | $ 112,000 | $ 154,465 | $ (1,089,513) | $ (823,048) |
Balance, shares at Nov. 30, 2018 | 11,200,000 | |||
Net loss | (2,562) | (2,562) | ||
Balance at Feb. 28, 2019 | $ 112,000 | 154,465 | (1,092,075) | (825,610) |
Balance, shares at Feb. 28, 2019 | 11,200,000 | |||
Balance at Nov. 30, 2019 | $ 112,000 | 154,465 | (1,125,606) | $ (859,141) |
Balance, shares at Nov. 30, 2019 | 11,200,000 | 11,200,000 | ||
Net loss | (1,838) | $ (1,838) | ||
Balance at Feb. 29, 2020 | $ 112,000 | $ 154,465 | $ (1,127,444) | $ (860,979) |
Balance, shares at Feb. 29, 2020 | 11,200,000 | 11,200,000 |
INTERIM STATEMENTS OF CASH FLOW
INTERIM STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 3 Months Ended | |
Feb. 29, 2020 | Feb. 28, 2019 | |
Cash flows from operating activities | ||
Net loss | $ (1,838) | $ (2,562) |
Changes in assets and liabilities | ||
Accounts payable and accrued expenses | (12,242) | (18,942) |
Net cash flows used in operating activities | (14,080) | (21,504) |
Cash flows from financing activities | ||
Loans from shareholder | 14,080 | 21,504 |
Net cash flows provided by financing activities | 14,080 | 21,504 |
Increase (decrease) in cash | ||
Cash, beginning of period | ||
Cash, end of period | ||
Cash paid for interest and income taxes | ||
Supplemental noncash investing and financing activities |
BASIS OF PRESENTATION AND SIGNI
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended |
Feb. 29, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES | NOTE 1 – BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES The accompanying unaudited financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America. However, certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been omitted or condensed pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of management, all adjustments of a normal recurring nature necessary for a fair presentation have been included. The results for interim periods are not necessarily indicative of results for the entire year. These condensed financial statements and accompanying notes should be read in conjunction with the Company’s annual financial statements and the notes thereto for the fiscal year ended November 30, 2019 included in its Annual Report on Form 10-K. Loss Per Share Basic loss per share is computed as net loss divided by the weighted average number of shares outstanding during the period. There is no diluted per share information presented due to losses in all periods. In addition, there are no potentially dilutive securities outstanding. |
GOING CONCERN
GOING CONCERN | 3 Months Ended |
Feb. 29, 2020 | |
GOING CONCERN [Abstract] | |
GOING CONCERN | NOTE 2 – GOING CONCERN The accompanying unaudited financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America, which contemplates continuation of the Company as a going concern. However, as is evident in the accompanying financial statements, Management has considered that the Company has no assets, limited operations and has sustained substantial operating losses in recent years resulting in a substantial accumulated deficit of $1,127,444. For the three months ended February 29, 2020, the Company had a net loss of $1,838. As a result of its evaluation of conditions and events, Management has concluded they are of such significance as to raise substantial doubt as to the Company’s ability to meet its financial obligations as they come due and continue as a going concern. The Company’s cash requirements for working capital have been satisfied for the past several years through loans from its majority shareholder and the Company plans to seek additional capital as needed through shareholder loans and/or a debt or equity financing to continue its operations. The Company’s President, who is also the majority shareholder, has orally agreed to fund its operations for at least the next twelve months. However, Management believes that the Company’s need for capital may change dramatically if it identifies and acquires a suitable business opportunity during that period. In view of these matters, the continued existence of the Company and its ability to succeed in any future operations is dependent upon its ability to meet its financing requirements on a continuing basis. There can be no assurance that such additional funds will be available for the Company on acceptable terms, if at all. The Company’s ability to achieve these objectives cannot be determined at this time. If the Company is unsuccessful in its endeavors, it may have to cease operations. These financial statements do not include any adjustments that might result from this uncertainty. Management currently has no specific plan to address these conditions except to continue to maintain its status as a reporting public shell for the foreseeable future. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 3 Months Ended |
Feb. 29, 2020 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 3 – RELATED PARTY TRANSACTIONS Amount due to a stockholder of $859,341 at February 29, 2020 (at November 30, 2019: $845,261) represents a series of advances from the majority stockholder to fund working capital requirements. There is no note and the amounts are unsecured, interest-free, and repayable on demand. The majority stockholder, who is also the Company’s President, has orally agreed to fund the Company’s operations for at least the next twelve months. |
INCOME TAX STATUS
INCOME TAX STATUS | 3 Months Ended |
Feb. 29, 2020 | |
Income Tax Status | |
INCOME TAX STATUS | NOTE 4 – INCOME TAX STATUS The entity is taxable only in a foreign jurisdiction where Net Operating Loss (“NOL”) carryforwards are not available. |
BASIS OF PRESENTATION AND SIG_2
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies) | 3 Months Ended |
Feb. 29, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Loss Per Share | Loss Per Share Basic loss per share is computed as net loss divided by the weighted average number of shares outstanding during the period. There is no diluted per share information presented due to losses in all periods. In addition, there are no potentially dilutive securities outstanding. |
BASIS OF PRESENTATION AND SIG_3
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details) | 3 Months Ended |
Feb. 29, 2020shares | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Potential dilutive securities | 0 |
GOING CONCERN (Details)
GOING CONCERN (Details) - USD ($) | 3 Months Ended | ||
Feb. 29, 2020 | Feb. 28, 2019 | Nov. 30, 2019 | |
Going Concern Details | |||
Deficit accumulated | $ 1,127,444 | $ 1,125,606 | |
Net loss | $ 1,838 | $ 2,562 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details) - USD ($) | Feb. 29, 2020 | Nov. 30, 2019 |
Related Party Transactions [Abstract] | ||
Loans from shareholder | $ 859,341 | $ 845,261 |