Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2021 | May 11, 2021 | |
Document Information Line Items | ||
Entity Registrant Name | Cereplast Inc | |
Document Type | 10-Q | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 74,641,276 | |
Amendment Flag | false | |
Entity Central Index Key | 0001324759 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Document Period End Date | Mar. 31, 2021 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q1 | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | true | |
Entity Incorporation, State or Country Code | NV | |
Entity File Number | 000-27873 | |
Entity Interactive Data Current | No |
Balance Sheets
Balance Sheets - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Current Assets | ||
Notes receivable | ||
Total Current Assets | ||
TOTAL ASSETS | ||
Current Liabilities | ||
Accounts payable and accrued liabilities | 416 | 600 |
Due to related parties | 27,244 | 6,300 |
Total Current Liabilities | 27,660 | 6,900 |
TOTAL LIABILITIES | 27,660 | 6,900 |
Stockholders’ Deficit | ||
Preferred Stock: 5,000,000 shares authorized; $0.001 par value 5,000,000 issued and outstanding at March 31, 2021 and December 31, 2020 | 5,000 | 5,000 |
Common stock: 250,000,000 shares authorized; $0.001 par value 74,641,276 shares issued and outstanding at March 31, 2021 and December 31, 2020 | 74,641 | 74,641 |
Capital deficiency | 97,186,036 | 97,186,036 |
Accumulated deficit during development stage | (97,293,337) | (97,272,577) |
Total Stockholders’ Deficit | (27,660) | (6,900) |
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT |
Balance Sheets (Parentheticals)
Balance Sheets (Parentheticals) - $ / shares | Mar. 31, 2021 | Dec. 31, 2020 |
Statement of Financial Position [Abstract] | ||
Preferred stock par value (in Dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 5,000,000 | 5,000,000 |
Preferred stock, shares outstanding | 5,000,000 | 5,000,000 |
Common stock par value (in Dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 250,000,000 | 250,000,000 |
Common stock, shares issued | 74,641,276 | 74,641,276 |
Common stock, shares outstanding | 74,641,276 | 74,641,276 |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Operating Expenses | ||
General and administrative | $ 3,500 | $ 300 |
Professional fees | 17,260 | 4,766 |
Total Operating Expenses | 20,760 | 5,066 |
Operating loss | (20,760) | (5,066) |
Other Income and Expense | ||
Interest income | 224 | |
Total other income | 224 | |
Provision for income taxes | ||
Net loss | $ (20,760) | $ (4,842) |
Basic and dilutive net loss per common share (in Dollars per share) | $ 0 | $ 0 |
Weighted average number of common shares outstanding - basic and diluted (in Shares) | 74,641,276 | 74,640,766 |
Statement of Stockholders_ Equi
Statement of Stockholders’ Equity (Unaudited) - USD ($) | Common Stock: Shares | Preferred Stock: (A-1) Shares | Additional Paid-in Capital | Accumulated Deficit | Accumulated Other Comprehensive Income | Total |
Balance at Dec. 31, 2019 | $ 74,641 | $ 1 | $ 97,206,117 | $ (97,254,935) | $ 25,824 | |
Balance (in Shares) at Dec. 31, 2019 | 74,640,766 | 510 | ||||
Net loss | (4,842) | (4,842) | ||||
Balance at Mar. 31, 2020 | $ 74,641 | $ 1 | 97,206,117 | (97,259,777) | 20,982 | |
Balance (in Shares) at Mar. 31, 2020 | 74,640,766 | 510 | ||||
Balance at Dec. 31, 2020 | $ 74,641 | $ 5,000 | 97,186,036 | (97,272,577) | (6,900) | |
Balance (in Shares) at Dec. 31, 2020 | 74,641,276 | 5,000,000 | ||||
Net loss | (20,760) | (20,760) | ||||
Balance at Mar. 31, 2021 | $ 74,641 | $ 5,000 | $ 97,186,036 | $ (97,293,337) | $ (27,660) | |
Balance (in Shares) at Mar. 31, 2021 | 74,641,276 | 5,000,000 |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (20,760) | $ (4,842) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Interest income | (224) | |
Accounts payable and accrued liabilities | (184) | |
Loan payable - related party | 20,944 | 5,066 |
Net Cash Used in Operating Activities | ||
CASH FLOWS FROM INVESTING ACTIVITIES | ||
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net change in cash and cash equivalents for the year | ||
Cash and cash equivalents at beginning of the year | ||
Cash and cash equivalents at end of the year | ||
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Cash paid for income taxes | ||
Cash paid for interest |
Organization and Basis of Accou
Organization and Basis of Accounting | 3 Months Ended |
Mar. 31, 2021 | |
Accounting Policies [Abstract] | |
Organization and basis of accounting | Note 1 – Organization and basis of accounting Basis of Presentation and Organization This summary of significant accounting policies of CEREPLAST, INC. (a development stage company) (“the Company”) is presented to assist in understanding the Company’s financial statements. These accounting policies conform to accounting principles generally accepted in the United States of America and have been consistently applied in the preparation of the accompanying financial statements. The Company has realized minimal revenues from its planned principal business purpose and, accordingly, is considered to be in its development stage in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic No. 915 (SFAS No. 7). The Company has elected a fiscal year end of December 31. Business Description We were incorporated on September 29, 2001 in the State of Nevada under the name of Biocorp North America Inc. On March 18, 2005, we filed an amendment to our certificate of incorporation to change our name to Cereplast, Inc. We have developed and are commercializing proprietary bio-based resins through two complementary product families: Cereplast Compostables ® On February 10, 2014, the Company, filed a voluntary petition for relief under Chapter 11 of Title 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Indiana (the “Bankruptcy Court”). On February 14, 2014, the Company filed a motion in the Bankruptcy Court seeking to convert the Company’s Chapter 11 Case to a Chapter 7 bankruptcy case. On March 27, 2014, the court granted the Company’s motion and on that date the Company’s Chapter 11 Case was converted to a Chapter 7 case. As a result, the Company adopted liquidation basis of accounting on the discontinued operations according to ASC 205-30 “Presentation of Financial Statements – Liquidation Basis of Accounting”, accordingly the accumulated deficit generated prior to bankruptcy proceedings remained unadjusted. On January 31, 2014 the Board of Directors of Cereplast, Inc. (the “Company”) approved a 1-for-50 reverse split (the “Reverse Split) which was previously approved by the shareholders on April 5, 2013 and previously disclosed on Current Report Form 8-K filed on April 5, 2013. On February 3, 2014, Cereplast, Inc. (the “Company”) filed a Certificate of Amendment to its Articles of Incorporation to effect the reverse split (the “Reverse Split”), effective as of February 21, 2014. On March 22, 2019, the eight judicial District Court of Nevada appointed Custodian Ventures, LLC as custodian for Cereplast, Inc., proper notice having been given to the officers and directors of Cereplast, Inc. There was no opposition. On June 04, 2019, the Company filed a certificate of revival with the state of Nevada, appointing David Lazar as, President, Secretary, Treasurer and Director. On October 4, 2019, the Company issued 50,000,000 shares of common stock to Custodian Ventures, LLC at par for shares valued at $50,000 in exchange for settlement of a portion of a related party loan for amounts advanced to the Company in the amount of $20,100, and a note receivable due to the Company in the amount of $29,900. The note bears an interest of 3% and matures in 180 days following written demand by the holder. On April 14, 2020, Custodian Ventures elected to convert the total amount of the 510 shares of Series A preferred stock into 510 shares of common stock. On April 15, 2020, the Board of directors of the Company approved the withdrawal of the certificate of designation of 5,000,000 shares of Series A Preferred stock filed with the Nevada Secretary of State on August 24, 2012, as amended by the Amendment to Certificate of Designation after issuance of Class or Series filed with the Nevada Secretary of State on April 13, 2020. On May 1, 2020, the Company created 5,000,000 shares of series A-1 preferred stock with par value $0.001. On May 4, 2020, the Company issued 5,000,00 shares of the Series A-1 Preferred stock valued at $5,000 to Custodian Ventures LLC as repayment funds loaned to the Company. A change of control of the Company was completed on November 3, 2020, control was obtained by the sale of 50,000,000 common shares and $5,000,000 Series A-1 Preferred Shares from Custodian Ventures, LLC to Xudong Li. After November 3, 2020, the Company’s operations are determined and structured by the new major shareholder. The accompanying financial statements are prepared on the basis of accounting principles generally accepted in the United States of America (“GAAP”). The Company is a development stage enterprise devoting substantial efforts to establishing a new business, financial planning, raising capital, and research into products which may become part of the Company’s product portfolio. The Company has not realized significant sales since inception. A development stage company is defined as one in which all efforts are devoted substantially to establishing a new business and, even if planned principal operations have commenced, revenues are insignificant. The accompanying financial statements have been prepared assuming the continuation of the Company as a going concern. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and is dependent on debt and equity financing to fund its operations. Management of the Company is making efforts to raise additional funding until a registration statement relating to an equity funding facility is in effect. While management of the Company believes that it will be successful in its capital formation and planned operating activities, there can be no assurance that the Company will be able to raise additional equity capital, or be successful in the development and commercialization of the products it develops or initiates collaboration agreements thereon. The accompanying financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the possible inability of the Company to continue as a going concern. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2021 | |
Accounting Policies [Abstract] | |
Summary of significant accounting policies | Note 2 – Summary of significant accounting policies Unaudited Interim Financial Information These unaudited interim financial statements have been prepared in accordance with GAAP for interim financial reporting and the rules and regulations of the Securities and Exchange Commission that permit reduced disclosure for interim periods. Therefore, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted. In the opinion of management, all adjustments of a normal recurring nature necessary for a fair presentation of the financial position, results of operations and cash flows for the periods presented have been made. The results of operations for the interim periods presented are not necessarily indicative of the results to be expected for the year ending December 31, 2021. The balance sheets and certain comparative information as of December 31, 2020 are derived from the audited financial statements and related notes for the year ended December 31, 2020, included in the Company’s Form 10. These unaudited interim financial statements should be read in conjunction with the annual consolidated financial statements and the accompanying notes contained in our Form 10. Cash and Cash Equivalents For purposes of reporting within the statements of cash flows, the Company considers all cash on hand, cash accounts not subject to withdrawal restrictions or penalties, and all highly liquid debt instruments purchased with a maturity of three months or less to be cash and cash equivalents. Employee Stock-Based Compensation The Company accounts for stock-based compensation in accordance with ASC 718 Compensation - Stock Compensation (“ASC 718”). ASC 718 addresses all forms of share-based payment (“SBP”) awards including shares issued under employee stock purchase plans and stock incentive shares. Under ASC 718 awards result in a cost that is measured at fair value on the awards’ grant date, based on the estimated number of awards that are expected to vest and will result in a charge to operations. Loss per Share Basic earnings (loss) per share are computed by dividing income available to common shareholders by the weighted-average number of common shares available. Diluted earnings (loss) per share is computed similar to basic earnings per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. The Company’s diluted loss per share is the same as the basic loss per share for the three months ended September 30, 2018 and 2017, as there are no potential shares outstanding that would have a dilutive effect. Income Taxes Income tax expense is based on pretax financial accounting income. Deferred tax assets and liabilities are recognized for the expected tax consequences of temporary differences between the tax bases of assets and liabilities and their reported amounts. Valuation allowances are recorded to reduce deferred tax assets to the amount that will more likely than not be realized. The Company recorded a valuation allowance against its deferred tax assets as of March 31, 2021 and December 31, 2020. The Company accounts for uncertainty in income taxes using a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon settlement. The Company classifies the liability for unrecognized tax benefits as current to the extent that the Company anticipates payment (or receipt) of cash within one year. Interest and penalties related to uncertain tax Recent Accounting Pronouncements In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes, as part of its initiative to reduce complexity in accounting standards. The amendments in the ASU are effective for fiscal years beginning after December 15, 2020, including interim periods therein. Early adoption of the standard is permitted, including adoption in interim or annual periods for which financial statements have not yet been issued. The Company is currently evaluating the effect, if any, that the ASU will have on its consolidated financial statements. |
Going Concern
Going Concern | 3 Months Ended |
Mar. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern | Note 3- Going Concern The accompanying financial statements have been prepared assuming the continuation of the Company as a going concern. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and is dependent on debt and equity financing to fund its operations. Management of the Company is making efforts to raise additional funding until a registration statement relating to an equity funding facility is in effect. While management of the Company believes that it will be successful in its capital formation and planned operating activities, there can be no assurance that the Company will be able to raise additional equity capital or be successful in the development and commercialization of the products it develops or initiates collaboration agreements thereon. The accompanying financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the possible inability of the Company to continue as a going concern. |
Related Party Transaction
Related Party Transaction | 3 Months Ended |
Mar. 31, 2021 | |
Related Party Transactions [Abstract] | |
Related party transaction | Note 4 – Related party transaction On October 04, 2019, the Company issued 50,000,000 shares of common stock to Custodian Ventures, LLC at par for shares valued at $50,000 in exchange for settlement of a portion of a related party loan for amounts advanced to the Company in the amount of $20,100, and a note receivable due to the Company in the amount of $29,900. The note bears an interest of 3% and matures in 180 days following written demand by the holder. At December 31, 2020, the note receivable with a balance of $31,383 was written off because the collectability of the note is unlikely after the change of control, the written off balance of the note consisted of the principal in the amount of $29,900 and interest receivable of $1,483. On May 4, 2020, the Company issued 5,000,00 shares of the Series A-1 Preferred stock valued at $5,000 to Custodian Ventures LLC as repayment of funds loaned to the Company. During the three months ended March 31, 2021, the Company’s current majority shareholder advanced $20,944 to the Company as working capital. As of March 31, 2021 and December 31, 2020, the Company owed its current majority shareholders of $27,244, and $6,300, respectively. The advances are non-interest bearing and are due on demand. |
Common Stock
Common Stock | 3 Months Ended |
Mar. 31, 2021 | |
Equity [Abstract] | |
Common stock | Note 5 – Common stock On February 3, 2014, Cereplast, Inc. (the “Company”) filed a Certificate of Amendment to its Articles of Incorporation to effect the reverse split (the “Reverse Split”), effective as of February 21, 2014. On October 4, 2019, the Company issued 50,000,000 shares of common stock to Custodian Ventures, LLC at par for shares valued at $50,000 in exchange for settlement of a portion of a related party loan for amounts advanced to the Company in the amount of $20,100, and a note receivable due to the Company in the amount of $29,900. The note bears an interest of 3% and matures in 180 days following written demand by the holder. At December 31, 2020, the note receivable with a balance of $31,383 was written off because the collectability of the note is unlikely after the change of control. On April 14, 2020, Custodian Ventures elected to convert the total amount of the 510 shares of Series A preferred stock into 510 shares of common stock. As of March 31, 2021, a total of 74,641,276 shares of common stock with par value $0.001 remain outstanding. |
Preferred Stock
Preferred Stock | 3 Months Ended |
Mar. 31, 2021 | |
Disclosure Text Block Supplement [Abstract] | |
Preferred stock | Note 6 – Preferred stock On October 4, 2019, the Company issued 510 shares of Series A Preferred stock to Custodian Ventures, LLC at par for shares valued at $510 in exchange for settlement of a portion of a related party loan for amounts advanced to the Company in the amount of $510. On April 14, 2020, Custodian Ventures elected to convert the total amount of the 510 shares of Series A preferred stock into 510 shares of common stock. On April 15, 2020, the Board of directors of the Company approved the withdrawal of the certificate of designation of 5,000,000 shares of Series A Preferred stock filed with the Nevada Secretary of State on August 24, 2012, as amended by the Amendment to Certificate of Designation after issuance of Class or Series filed with the Nevada Secretary of State on April 13, 2020. On May 1, 2020, the Company created 5,000,000 shares of series A-1 preferred stock with par value $0.001. On May 4, 2020, the Company issued 5,000,000 shares of the Series A-1 Preferred stock valued at $5,000 to Custodian Ventures LLC as repayment funds loaned to the Company. As of March 31, 2021, a total of 5,000,000 shares of Series A-1 preferred stock with par value $0.001 remain outstanding. |
Income Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | NOTE 7 – INCOME TAXES Deferred taxes represent the net tax effects of the temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes. Temporary differences result primarily from the recording of tax benefits of net operating loss carry forwards. As of March 31, 2021, the Company has an insufficient history to support the likelihood of ultimate realization of the benefit associated with the deferred tax asset. Accordingly, a valuation allowance has been established for the full amount of the net deferred tax asset. Uncertain Tax Positions Interest associated with unrecognized tax benefits are classified as income tax, and penalties are classified in selling, general and administrative expenses in the statements of operations. For March 31, 2021 and 2020, the Company had no unrecognized tax benefits and related interest and penalties expenses. Currently, the Company is not subject to examination by major tax jurisdictions. |
Subsequent Event
Subsequent Event | 3 Months Ended |
Mar. 31, 2021 | |
Subsequent Events [Abstract] | |
Subsequent Event | Note 8 – Subsequent Event In accordance with SFAS 165 (ASC 855-10) management has performed an evaluation of subsequent events through the date that the financial statements were available to be issued, and has determined that it does not have any material subsequent events to disclose in these financial statements. |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 3 Months Ended |
Mar. 31, 2021 | |
Accounting Policies [Abstract] | |
Unaudited Interim Financial Information | Unaudited Interim Financial Information These unaudited interim financial statements have been prepared in accordance with GAAP for interim financial reporting and the rules and regulations of the Securities and Exchange Commission that permit reduced disclosure for interim periods. Therefore, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted. In the opinion of management, all adjustments of a normal recurring nature necessary for a fair presentation of the financial position, results of operations and cash flows for the periods presented have been made. The results of operations for the interim periods presented are not necessarily indicative of the results to be expected for the year ending December 31, 2021. The balance sheets and certain comparative information as of December 31, 2020 are derived from the audited financial statements and related notes for the year ended December 31, 2020, included in the Company’s Form 10. These unaudited interim financial statements should be read in conjunction with the annual consolidated financial statements and the accompanying notes contained in our Form 10. |
Cash and Cash Equivalents | Cash and Cash Equivalents For purposes of reporting within the statements of cash flows, the Company considers all cash on hand, cash accounts not subject to withdrawal restrictions or penalties, and all highly liquid debt instruments purchased with a maturity of three months or less to be cash and cash equivalents. |
Employee Stock-Based Compensation | Employee Stock-Based Compensation The Company accounts for stock-based compensation in accordance with ASC 718 Compensation - Stock Compensation (“ASC 718”). ASC 718 addresses all forms of share-based payment (“SBP”) awards including shares issued under employee stock purchase plans and stock incentive shares. Under ASC 718 awards result in a cost that is measured at fair value on the awards’ grant date, based on the estimated number of awards that are expected to vest and will result in a charge to operations. |
Loss per Share | Loss per Share Basic earnings (loss) per share are computed by dividing income available to common shareholders by the weighted-average number of common shares available. Diluted earnings (loss) per share is computed similar to basic earnings per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. The Company’s diluted loss per share is the same as the basic loss per share for the three months ended September 30, 2018 and 2017, as there are no potential shares outstanding that would have a dilutive effect. |
Income Taxes | Income Taxes Income tax expense is based on pretax financial accounting income. Deferred tax assets and liabilities are recognized for the expected tax consequences of temporary differences between the tax bases of assets and liabilities and their reported amounts. Valuation allowances are recorded to reduce deferred tax assets to the amount that will more likely than not be realized. The Company recorded a valuation allowance against its deferred tax assets as of March 31, 2021 and December 31, 2020. The Company accounts for uncertainty in income taxes using a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon settlement. The Company classifies the liability for unrecognized tax benefits as current to the extent that the Company anticipates payment (or receipt) of cash within one year. Interest and penalties related to uncertain tax |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes, as part of its initiative to reduce complexity in accounting standards. The amendments in the ASU are effective for fiscal years beginning after December 15, 2020, including interim periods therein. Early adoption of the standard is permitted, including adoption in interim or annual periods for which financial statements have not yet been issued. The Company is currently evaluating the effect, if any, that the ASU will have on its consolidated financial statements. |
Organization and Basis of Acc_2
Organization and Basis of Accounting (Details) | May 01, 2020 | Apr. 14, 2020shares | Oct. 04, 2019USD ($)shares | Mar. 18, 2005 | Mar. 31, 2021shares | Dec. 31, 2020shares | Nov. 03, 2020USD ($)shares | May 04, 2020USD ($) | Apr. 15, 2020shares |
Organization and Basis of Accounting (Details) [Line Items] | |||||||||
Number of complementary product families | 2 | ||||||||
Percentage of petroleum-based content of traditional plastics with materials from renewable resources. | 90.00% | ||||||||
Reverse split, description | On January 31, 2014 the Board of Directors of Cereplast, Inc. (the “Company”) approved a 1-for-50 reverse split (the “Reverse Split) which was previously approved by the shareholders on April 5, 2013 and previously disclosed on Current Report Form 8-K filed on April 5, 2013. | ||||||||
Designation of shares | 5,000,000 | 5,000,000 | |||||||
Preferred stock, description | the Company created 5,000,000 shares of series A-1 preferred stock with par value $0.001. On May 4, 2020, the Company issued 5,000,000 shares of the Series A-1 Preferred stock valued at $5,000 to Custodian Ventures LLC as repayment funds loaned to the Company. | ||||||||
Common stock, shares | 50,000,000 | ||||||||
Series A Preferred Stock [Member] | |||||||||
Organization and Basis of Accounting (Details) [Line Items] | |||||||||
Preferred stock, shares | 510 | ||||||||
Conversion of Common stock, shares converted | 510 | ||||||||
Designation of shares | 5,000,000 | ||||||||
Series A-1 Preferred Stock [Member] | |||||||||
Organization and Basis of Accounting (Details) [Line Items] | |||||||||
Preferred stock, shares | 5,000,000 | ||||||||
Preferred shares Value (in Dollars) | $ | $ 5,000,000 | $ 5,000 | |||||||
Custodian Ventures, LLC [Member] | |||||||||
Organization and Basis of Accounting (Details) [Line Items] | |||||||||
Common stock shares issued | 50,000,000 | ||||||||
Common stock shares issued value (in Dollars) | $ | $ 50,000 | ||||||||
Settlement loan amount (in Dollars) | $ | 20,100 | ||||||||
Note receivable due (in Dollars) | $ | $ 29,900 | ||||||||
Interest rate | 3.00% | ||||||||
Notes matures | 180 days | ||||||||
Preferred stock, description | the Company created 5,000,000 shares of series A-1 preferred stock with par value $0.001. On May 4, 2020, the Company issued 5,000,00 shares of the Series A-1 Preferred stock valued at $5,000 to Custodian Ventures LLC as repayment funds loaned to the Company. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Details) | 3 Months Ended |
Mar. 31, 2021 | |
Accounting Policies [Abstract] | |
Tax benefit percentage | 50.00% |
Anticipates payment of cash duration | 1 year |
Related Party Transaction (Deta
Related Party Transaction (Details) - USD ($) | Oct. 04, 2019 | Mar. 31, 2021 | Dec. 31, 2020 | Nov. 03, 2020 | May 04, 2020 |
Related Party Transaction (Details) [Line Items] | |||||
Note receivables | $ 31,383 | ||||
Principal amount | 29,900 | ||||
Interest receivable | $ 1,483 | ||||
Preferred stock, shares issued (in Shares) | 5,000,000 | 5,000,000 | |||
Working capital | $ 20,944 | ||||
Majority Shareholder [Member] | |||||
Related Party Transaction (Details) [Line Items] | |||||
Owed majority shareholders value | $ 27,244 | $ 6,300 | |||
Series A-1 Preferred Stock [Member] | |||||
Related Party Transaction (Details) [Line Items] | |||||
Preferred stock, shares issued (in Shares) | 500,000 | ||||
Stock value | $ 5,000,000 | $ 5,000 | |||
Custodian Ventures, LLC [Member] | |||||
Related Party Transaction (Details) [Line Items] | |||||
Common stock shares issued (in Shares) | 50,000,000 | ||||
Common stock shares issued value | $ 50,000 | ||||
Settlement loan amount | 20,100 | ||||
Note receivable due | $ 29,900 | ||||
Interest rate | 3.00% | ||||
Notes matures | 180 days |
Common Stock (Details)
Common Stock (Details) - USD ($) | Apr. 14, 2020 | Oct. 04, 2019 | Mar. 31, 2021 | Dec. 31, 2020 |
Common Stock (Details) [Line Items] | ||||
Note receivables | $ 31,383 | |||
Common stock, shares issued | 74,641,276 | 74,641,276 | ||
Common stock, par value | $ 0.001 | $ 0.001 | ||
Common Stock [Member] | ||||
Common Stock (Details) [Line Items] | ||||
Common stock, shares issued | 74,641,276 | |||
Common stock, par value | $ 0.001 | |||
Series A Preferred Stock [Member] | ||||
Common Stock (Details) [Line Items] | ||||
Preferred stock, shares | 510 | |||
Conversion of common stock, shares converted | 510 | |||
Custodian Ventures, LLC [Member] | ||||
Common Stock (Details) [Line Items] | ||||
Common stock shares issued | 50,000,000 | |||
Common stock shares issued value | $ 50,000 | |||
Settlement loan amount | 20,100 | |||
Note receivable due | $ 29,900 | |||
Interest rate | 3.00% | |||
Notes matures | 180 days |
Preferred Stock (Details)
Preferred Stock (Details) - $ / shares | May 01, 2020 | Apr. 14, 2020 | Oct. 04, 2019 | Mar. 31, 2021 | Dec. 31, 2020 | Apr. 15, 2020 |
Preferred Stock (Details) [Line Items] | ||||||
Designation of shares | 5,000,000 | 5,000,000 | ||||
Preferred stock, description | the Company created 5,000,000 shares of series A-1 preferred stock with par value $0.001. On May 4, 2020, the Company issued 5,000,000 shares of the Series A-1 Preferred stock valued at $5,000 to Custodian Ventures LLC as repayment funds loaned to the Company. | |||||
Preferred stock, par value (in Dollars per share) | $ 0.001 | $ 0.001 | ||||
Preferred Stock [Member] | ||||||
Preferred Stock (Details) [Line Items] | ||||||
Settlement of a portion of a related party, description | the Company issued 510 shares of Series A Preferred stock to Custodian Ventures, LLC at par for shares valued at $510 in exchange for settlement of a portion of a related party loan for amounts advanced to the Company in the amount of $510. | |||||
Series A Preferred Stock [Member] | ||||||
Preferred Stock (Details) [Line Items] | ||||||
Preferred stock, shares | 510 | |||||
Conversion of Common stock, shares converted | 510 | |||||
Designation of shares | 5,000,000 | |||||
Series A-1 Preferred Stock [Member] | ||||||
Preferred Stock (Details) [Line Items] | ||||||
Preferred stock, shares | 5,000,000 | |||||
Preferred stock, par value (in Dollars per share) | $ 0.001 |