Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2018 | Nov. 09, 2018 | |
Document And Entity Information | ||
Entity Registrant Name | AS Capital, Inc. | |
Entity Central Index Key | 1,421,819 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2018 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Is Entity's Reporting Status Current? | Yes | |
Is Entity Emerging Growth Company? | false | |
Elected Not To Use the Extended Transition Period | false | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding | 201,000 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2,018 |
Balance Sheets (Unaudited)
Balance Sheets (Unaudited) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Current Assets: | ||
Cash | $ 0 | $ 0 |
Total Current Assets | 0 | 0 |
Current Liabilities: | ||
Accounts payable | 200 | 23,628 |
Loan payable - related party | 36,001 | 0 |
Total Current Liabilities | 36,201 | 23,628 |
Total Liabilities | 36,201 | 23,628 |
Commitments and Contingencies | ||
Stockholders Equity (Deficit): | ||
Common stock, $0.001 par value, 75,000,000 shares authorized; 201,000 and 201,000 shares issued and outstanding; respectively | 201 | 201 |
Additional paid-in capital | 36,052,449 | 36,044,799 |
Accumulated deficit | (36,088,861) | (36,068,628) |
Total stockholders' deficit | (36,201) | (23,628) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | 0 | 0 |
Preferred Stock [Member] | ||
Stockholders Equity (Deficit): | ||
Preferred Stock | 0 | 0 |
Series A Preferred Stock [Member] | ||
Stockholders Equity (Deficit): | ||
Preferred Stock | 0 | 0 |
Series B Preferred Stock [Member] | ||
Stockholders Equity (Deficit): | ||
Preferred Stock | 0 | 0 |
Series C Preferred Stock [Member] | ||
Stockholders Equity (Deficit): | ||
Preferred Stock | $ 10 | $ 0 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 2018 | Dec. 31, 2017 |
Common stock, par value | $ .001 | $ 0.001 |
Common stock, shares authorized | 75,000,000 | 75,000,000 |
Common stock, shares issued | 201,000 | 201,000 |
Common stock, shares outstanding | 201,000 | 201,000 |
Preferred Stock [Member] | ||
Preferred stock, par value | $ .00001 | $ 0.00001 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Series A Preferred Stock [Member] | ||
Preferred stock, par value | $ .00001 | $ 0.00001 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 1,000 | 36 |
Preferred stock, shares outstanding | 1,000 | 36 |
Series B Preferred Stock [Member] | ||
Preferred stock, par value | $ .00001 | $ 0.00001 |
Preferred stock, shares authorized | 3,000,000 | 3,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Series C Preferred Stock [Member] | ||
Preferred stock, par value | $ .00001 | $ 0.00001 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 1,000,000 | 0 |
Preferred stock, shares outstanding | 1,000,000 | 0 |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Expenses: | ||||
General and administrative | $ 19,033 | $ 610 | $ 20,233 | $ 1,811 |
Total expenses | 19,033 | 610 | 20,233 | 1,811 |
Loss before provision for income taxes | (19,033) | (610) | (20,233) | (1,811) |
Net Loss | $ (19,033) | $ (610) | $ (20,233) | $ (1,811) |
Loss per share, basic and diluted | $ (0.09) | $ 0 | $ (0.10) | $ (0.01) |
Weighted average shares outstanding, basic and diluted | 201,000 | 201,000 | 201,000 | 201,000 |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
CASH FLOW FROM OPERATING ACTIVITIES: | ||
Net Loss | $ (20,233) | $ (1,811) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Preferred stock issued for payment of expenses | 7,660 | 0 |
Changes in Operating Assets and Liabilities: | ||
Accounts payable | 12,106 | 1,811 |
Net Cash Used in Operating Activities | (467) | 0 |
CASH FLOWS FROM INVESTING ACTIVITIES: | 0 | 0 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Loan payable - related party | 467 | 0 |
Net Cash provided by Financing Activities | 467 | 0 |
Net Increase in Cash | 0 | 0 |
Cash at Beginning of Period | 0 | 0 |
Cash at End of Period | 0 | 0 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||
Interest | 0 | 0 |
Income taxes | $ 0 | $ 0 |
1. Organization and Description
1. Organization and Description of Business | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Organization and Description of Business | NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS AS Capital, Inc. (the “Company”) was incorporated under the laws of the State of Nevada on June 15, 2006 as Jupiter Resources, Inc. On August 9, 2018, XTC, Inc., a Company owned by Chris Lotito, CEO, was awarded custodianship in a shareholder filing with the Eighth Judicial District Court in Clark County Nevada. On April 30, 2018 the company filed an amendment to change the name of the corporation to Rineon Group, Inc. On October 1, 2018, the company filed for a name change to AS Capital, Inc. The Company currently intends to serve as a vehicle to effect an asset acquisition, merger, exchange of capital stock or other business combination with a domestic or foreign business. |
2. Summary of Significant Accou
2. Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The Company’s unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The accompanying unaudited financial statements reflect all adjustments, consisting of only normal recurring items, which, in the opinion of management, are necessary for a fair statement of the results of operations for the periods shown and are not necessarily indicative of the results to be expected for the full year ending December 31, 2018. These unaudited financial statements should be read in conjunction with the financial statements and related notes for the year ended December 31, 2017. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Recently issued accounting pronouncements The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
3. Going Concern
3. Going Concern | 9 Months Ended |
Sep. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern | NOTE 3 – GOING CONCERN As reflected in the accompanying financial statements, the Company has no current operations from which to generate revenue, has an accumulated deficit of $36,088,861 at September 30, 2018 and had a net loss of $20,233 for the nine months ended September 30, 2018. These factors raise substantial doubt about our ability to continue as a going concern. The financial statements have been prepared assuming that the Company will continue as a going concern. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. |
4. Preferred Stock
4. Preferred Stock | 9 Months Ended |
Sep. 30, 2018 | |
Equity [Abstract] | |
Preferred Stock | NOTE 4 – PREFERRED STOCK On September 25, 2018, the Company filed a Certificate of Designation to designate 1,000,000 shares of Series A Preferred Stock and provide for the rights, privileges, and preferences of the Series A Preferred Stock. Shares of Series A Preferred Stock may be converted at the holder’s election into shares of common stock, at the conversion rate of one share of common stock for 12,000 shares of Series A Preferred Stock. Series A preferred stock has no dividends, liquidation or redemption rights and may vote only on matters pertaining to the Series A stock. On September 25, 2018, the Company filed a Certificate of Designation to designate 3,000,000 shares of Series B Preferred Stock and provide for the rights, privileges, and preferences of the Series B Preferred Stock. Shares of Series B Preferred Stock may be converted at the holder’s election into shares of common stock, at the conversion rate of 1,000 shares of common stock for one share of Series B Preferred Stock. Series B preferred stock has no dividends, liquidation, redemption or voting rights. On September 25, 2018, the Company filed a Certificate of Designation to designate 1,000,000 shares of Series C Preferred Stock and provide for the rights, privileges, and preferences of the Series C Preferred Stock. Shares of Series C Preferred Stock may be converted at the holder’s election into shares of common stock, at the conversion rate of one share of common stock for one share of Series C Preferred Stock. Series C preferred stock has no dividends, liquidation or redemption rights. Each share is entitled to 100,000 votes. See note 5 for preferred stock issued to a related party. |
5. Related Party Transactions
5. Related Party Transactions | 9 Months Ended |
Sep. 30, 2018 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | NOTE 5 – RELATED PARTY TRANSACTIONS On September 26, 2018, the Company granted 964 shares of Series A preferred stock and 1,000,000 shares of Series C preferred stock to XRC, LLC, in exchange for their payment of operating expenses totaling $7,660. XRC, LLC is owned by Chris Lotito, CEO. On August 13, 2018, the Company enterer into a line of credit with MDX, Inc., for up to $50,000 until December 31, 2018. The line of credit bears interest at 5% of the balance at December 31, 2018. Chris Lotito, CEO, is also the majority member of MDX, Inc. As of September 30, 2018, the outstanding balance due is $36,001. |
6. Subsequent Events
6. Subsequent Events | 9 Months Ended |
Sep. 30, 2018 | |
Subsequent Events [Abstract] | |
Subsequent Events | NOTE 6 – SUBSEQUENT EVENTS Management has evaluated subsequent events pursuant to the requirements of ASC Topic 855, from the balance sheet date through the date the financial statements were available to be issued, and has determined that there are no additional material subsequent events that require disclosure in these financial statements other than the following. On October 1, 2018, the Company filed to amend its Articles of Incorporation to change its name from Rineon Group, Inc., to AS Capital, Inc. On October 1, 2018, the Company filed to amend its Articles of Incorporation to affect a ten for one reverse stock split of its common shares and a 1,000 to one reverse stock split of its Series A convertible preferred stock. All applicable shares throughout these financial statements have been retroactively restated to reflect the reverse split. |
2. Summary of Significant Acc_2
2. Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The Company’s unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The accompanying unaudited financial statements reflect all adjustments, consisting of only normal recurring items, which, in the opinion of management, are necessary for a fair statement of the results of operations for the periods shown and are not necessarily indicative of the results to be expected for the full year ending December 31, 2018. These unaudited financial statements should be read in conjunction with the financial statements and related notes for the year ended December 31, 2017. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Recently issued accounting pronouncements | Recently issued accounting pronouncements The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
3. Going Concern (Details Narra
3. Going Concern (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||
Accumulated deficit | $ (36,088,861) | $ (36,088,861) | $ (36,068,628) | ||
Net loss | $ (19,033) | $ (610) | $ (20,233) | $ (1,811) |
4. Preferred Stock (Details Nar
4. Preferred Stock (Details Narrative) | Sep. 30, 2018shares |
Series A Preferred Stock [Member] | |
Number of common shares issued for each share of convertible preferred stock | 12,000 |
Series B Preferred Stock [Member] | |
Number of common shares issued for each share of convertible preferred stock | 1,000 |
Series C Preferred Stock [Member] | |
Number of common shares issued for each share of convertible preferred stock | 1 |
5. Related Party Transactions (
5. Related Party Transactions (Details Narrative) | 9 Months Ended |
Sep. 30, 2018USD ($)shares | |
MDX, Inc. [Member] | |
Line of credit issuance date | Aug. 13, 2018 |
Line of credit maximum amount | $ 50,000 |
Line of credit expiration date | Dec. 31, 2018 |
Line of credit interest rate | 5.00% |
Line of credit balance | $ 36,001 |
XRC, LLC [Member] | |
Preferred stock issued for operating expenses, value | $ 7,660 |
XRC, LLC [Member] | Series A Preferred Stock [Member] | |
Preferred stock issued for operating expenses, shares issued | shares | 964 |
XRC, LLC [Member] | Series C Preferred Stock [Member] | |
Preferred stock issued for operating expenses, shares issued | shares | 1,000,000 |