Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Nov. 30, 2018 | Jan. 11, 2019 | |
Document And Entity Information | ||
Entity Registrant Name | LZG International, Inc. | |
Entity Central Index Key | 1,126,115 | |
Document Type | 10-Q | |
Document Period End Date | Nov. 30, 2018 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --05-31 | |
Is Entity's Reporting Status Current? | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Common Stock, Shares Outstanding | 250,556 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2,019 | |
Is entity small business | true | |
Is entity emerging growth company | true | |
Entity extended transition period | false |
Condensed Balance Sheets (Unaud
Condensed Balance Sheets (Unaudited) - USD ($) | Nov. 30, 2018 | May 31, 2018 |
Current Assets | ||
Cash | $ 1,084 | $ 539 |
Total Current Assets | 1,084 | 539 |
Total Assets | 1,084 | 539 |
Current Liabilities | ||
Accounts Payable | 800 | 325 |
Accounts Payable - related party | 9,400 | 6,100 |
Note Payable - related party | 92,500 | 92,500 |
Note Payable | 56,700 | 51,100 |
Accrued Interest - related party | 3,700 | |
Accrued Interest | 17,929 | 15,810 |
Total Current Liabilities | 181,029 | 165,835 |
Long-Term Liabilities | ||
Notes Payable - related party | 23,500 | 23,500 |
Accrued Interest- related party | 16,517 | 15,577 |
Total Long-term Liabilities | 40,017 | 39,077 |
Total Liabilities | 221,046 | 204,912 |
Stockholders' Deficit | ||
Preferred stock, $0.001 par value, 20,000,000 shares authorized, none issued and outstanding | ||
Common Stock, $0.001 par value, 100,000,000 shares authorized, 250,556 shares issued and outstanding | 251 | 251 |
Additional Paid in Capital | 3,063,134 | 3,063,134 |
Accumulated Deficit | (3,283,347) | (3,267,758) |
Total Stockholders' Equity (Deficit) | (219,962) | (204,373) |
Total Liabilities and Stockholders' Equity (Deficit) | $ 1,084 | $ 539 |
Condensed Balance Sheets (Paren
Condensed Balance Sheets (Parenthetical) - $ / shares | Nov. 30, 2018 | May 31, 2018 |
Statement of Financial Position [Abstract] | ||
Preferred stock; par value | $ 0.001 | $ 0.001 |
Preferred stock; shares authorized | 20,000,000 | 20,000,000 |
Preferred stock; shares issued | ||
Preferred stock; shares outstanding | ||
Common stock; par value | $ 0.001 | $ 0.001 |
Common Stock; shares authorized | 100,000,000 | 100,000,000 |
Common stock; shares issued | 250,556 | 250,556 |
Common stock; shares outstanding | 250,556 | 250,556 |
Condensed Statements of Operati
Condensed Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Nov. 30, 2018 | Nov. 30, 2017 | Nov. 30, 2018 | Nov. 30, 2017 | |
Income Statement [Abstract] | ||||
Revenues | ||||
Expenses | ||||
General and administrative | 3,990 | 2,625 | 8,830 | 7,649 |
Total Expenses | 3,990 | 2,625 | 8,830 | 7,649 |
Net Operating Loss Before Other Expense | (3,990) | (2,625) | (8,830) | (7,649) |
Other Income (Expense) | ||||
Interest Expense | (1,097) | (952) | (2,119) | (1,881) |
Interest Expense- related party | (2,320) | (470) | (4,640) | (940) |
Total Other Income (Expense) | (3,417) | (1,422) | (6,759) | (2,821) |
Loss Before Income Taxes | (7,407) | (4,047) | (15,589) | (10,470) |
Income taxes | ||||
Net Loss | $ (7,407) | $ (4,047) | $ (15,589) | $ (10,470) |
Net Loss Per Share | $ (0.03) | $ (0.02) | $ (0.06) | $ (0.04) |
Weighted Average Shares Outstanding | 250,556 | 250,556 | 250,556 | 250,556 |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Nov. 30, 2018 | Nov. 30, 2017 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net Loss | $ (15,589) | $ (10,470) |
Changes in assets and liabilities | ||
Accounts payable - related party | 3,300 | 3,100 |
Accounts payable | 475 | 1,125 |
Accrued interest | 2,119 | 1,881 |
Accrued interest- related party | 4,640 | 940 |
Net cash provided (Used) by Operating Activities | (5,055) | (3,424) |
Cash Flows From Investing Activities | ||
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from notes payable | 5,600 | 2,500 |
Net cash provided by Financing Activities | 5,600 | 2,500 |
Increase (Decrease) in Cash | 545 | (924) |
Cash and Cash Equivalents, Beginning of Period | 539 | 1,013 |
Cash and Cash Equivalents, End of Period | 1,084 | 89 |
Cash Paid for: | ||
Interest | ||
Income taxes |
Basis of Financial Statement Pr
Basis of Financial Statement Presentation | 6 Months Ended |
Nov. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Financial Statement Presentation | NOTE 1 – BASIS OF FINANCIAL STATEMENT PRESENTATION The accompanying unaudited condensed financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted in accordance with such rules and regulations. The information furnished in the interim condensed financial statements includes normal recurring adjustments and reflects all adjustments, which, in the opinion of management, are necessary for a fair presentation of such financial statements. Although management believes the disclosures and information presented are adequate to make the information not misleading, it is suggested that these interim condensed financial statements be read in conjunction with the Company’s audited financial statements and notes thereto included in its May 31, 2017 Annual Report on Form 10-K. Operating results for the six months ended November 30, 2017 are not necessarily indicative of the results to be expected for year ending May 31, 2018. |
Going Concern
Going Concern | 6 Months Ended |
Nov. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern | NOTE 2 – GOING CONCERN The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company has limited assets, has incurred losses since inception, has negative cash flows from operations, and has no revenue-generating activities. Its activities have been limited for the past several years and it is dependent upon financing to continue operations. These factors raise substantial doubt about the ability of the Company to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. It is management’s plan to acquire or merge with other operating companies. |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Nov. 30, 2018 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | NOTE 3 – RELATED PARTY TRANSACTIONS The financial statements include related party transactions, which as of November 30, 2018, included loans from an officer of the company totaling $23,500. The loans had an original due date of June 30, 2014, but principal and interest maturities and have been extended to June 30, 2020. The loans are not collateralized, and bear interest at 8% per annum. Interest expense was $940 for the six months ended November 30, 2018, resulting in accrued interest of $16,517 and $15,577 at November 30, 2018 and May 31, 2018, respectively. During the six months ended November 30, 2018, a stockholder, paid for administrative and professional services totaling $3,300, resulting in amounts payable to the stockholder of $9,400 and $6,100 as of November 30, 2018 and May 31, 2018, respectively. On May 31, 2018 the stockholder converted $92,500 of its accounts payable to a promissory note, which bears interest at 8% per annum and is due on demand. Accrued interest and interest expense as of and for the six months ended November 30, 2018 was $3,700. |
Loan Payable
Loan Payable | 6 Months Ended |
Nov. 30, 2017 | |
Debt Disclosure [Abstract] | |
Loan Payable | NOTE 4 – LOAN PAYABLE The Company borrowed $56,700 from a third party. The loan is due on demand, is not collateralized, and bears interest at 8% per annum. Interest expense was $2,119 for the six months ended November 30, 2018, resulting in accrued interest of $17,929 and $15,810 at November 30, 2018 and May 31, 2018, respectively. |
Subsequent Events
Subsequent Events | 6 Months Ended |
Nov. 30, 2017 | |
Subsequent Events [Abstract] | |
Subsequent Events | NOTE 5 – SUBSEQUENT EVENTS The Company has evaluated subsequent events from the balance sheet date through the date the financial statements were issued and has determined that there are no such events that would have a material impact on the financial statements. |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - USD ($) | 6 Months Ended | ||
Nov. 30, 2018 | May 31, 2018 | Jun. 30, 2014 | |
Related Party Transactions [Abstract] | |||
Notes Payable - related party | $ 23,500 | $ 23,500 | $ 23,500 |
Note payable; maturity date | Jun. 30, 2020 | ||
Note payable; interest | 8.00% | ||
Interest expense | 940 | ||
Accrued Interest- related party | 16,517 | 15,577 | |
Administrative and professional services paid by related party | 3,300 | ||
Accounts Payable - related party | 9,400 | 6,100 | |
Note Payable - related party | 92,500 | 92,500 | |
Accrued Interest - related party | $ 3,700 |
Loan Payable (Details Narrative
Loan Payable (Details Narrative) - USD ($) | 6 Months Ended | ||
Nov. 30, 2018 | Nov. 30, 2017 | May 31, 2018 | |
Debt Disclosure [Abstract] | |||
Note Payable | $ 56,700 | $ 51,100 | |
Interest rate | 8.00% | ||
Interest expense | $ 2,119 | $ 1,881 | |
Accrued Interest | $ 17,929 | $ 15,810 |