Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2020 | Apr. 29, 2020 | |
Cover [Abstract] | ||
Entity Registrant Name | AS Capital, Inc. | |
Entity Central Index Key | 0001421819 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2020 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Is Entity's Reporting Status Current? | Yes | |
Is Entity Emerging Growth Company? | false | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding | 11,201,030 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2020 | |
Interactive Data Current | Yes | |
Entity File Number | 000-55999 | |
Entity Incorporation State | NV | |
Entity Shell company | true |
Condensed Balance Sheets (Unaud
Condensed Balance Sheets (Unaudited) - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 |
Current Assets: | ||
Cash | $ 0 | $ 0 |
Total Current Assets | 0 | 0 |
Current Liabilities: | ||
Accrued expenses | 31,159 | 21,596 |
Due to a related party | 138,533 | 121,063 |
Total Current Liabilities | 169,692 | 142,659 |
TOTAL LIABILITIES | 169,692 | 142,659 |
Commitments and Contingencies | ||
Stockholders Deficiciency: | ||
Common stock, $0.0001 par value, 75,000,000 shares authorized; 11,201,030 and 11,201,030 shares issued and outstanding; respectively | 1,120 | 1,120 |
Additional paid-in capital | 36,110,927 | 36,110,927 |
Accumulated deficit | (36,281,739) | (36,254,706) |
Total Shareholders' Deficiencies | (169,692) | (142,659) |
TOTAL LIABILITIES AND SHAREHOLDERS' Deficiencies | 0 | 0 |
Preferred Stock [Member] | ||
Stockholders Deficiciency: | ||
Preferred Stock | 0 | 0 |
Series A Preferred Stock [Member] | ||
Stockholders Deficiciency: | ||
Preferred Stock | 0 | 0 |
Series B Preferred Stock [Member] | ||
Stockholders Deficiciency: | ||
Preferred Stock | 0 | 0 |
Series C Preferred Stock [Member] | ||
Stockholders Deficiciency: | ||
Preferred Stock | $ 100 | $ 0 |
Condensed Balance Sheets (Una_2
Condensed Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Mar. 31, 2020 | Dec. 31, 2019 |
Common stock, par value | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 75,000,000 | 75,000,000 |
Common stock, shares issued | 11,201,030 | 11,201,030 |
Common stock, shares outstanding | 11,201,030 | 11,201,030 |
Preferred Stock [Member] | ||
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
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 | $ .0001 | $ .0001 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 1,000 | 1,000 |
Preferred stock, shares outstanding | 1,000 | 1,000 |
Series B Preferred Stock [Member] | ||
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
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 | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 1,000,000 | 1,000,000 |
Preferred stock, shares outstanding | 1,000,000 | 1,000,000 |
Condensed Statements of Operati
Condensed Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Income Statement [Abstract] | ||
Revenue | $ 0 | $ 0 |
General and administrative expenses | (27,033) | (3,754) |
Total operating expenses | (27,033) | (3,754) |
Loss before income taxes | (27,033) | (3,754) |
Income taxes | 0 | 0 |
NET LOSS | $ (27,033) | $ (3,754) |
Basic and diluted net loss per share | $ 0 | $ (0.01) |
Basic and diluted weighted average shares outstanding | 11,201,030 | 201,030 |
Condensed Statement of Changes
Condensed Statement of Changes in Stockholders' Equity (Deficiency) (Unaudited) - USD ($) | Series A Preferred Stock | Series C Preferred Stock | Common Stock | Additional Paid-In Capital | Accumulated Deficit | Total |
Beginning balance, shares at Dec. 31, 2018 | 1,000 | 1,000,000 | 201,030 | |||
Beginning balance, value at Dec. 31, 2018 | $ 0 | $ 100 | $ 20 | $ 36,052,540 | $ (36,101,190) | $ (48,530) |
Net loss | $ 5 | $ 5 | $ 5 | 5 | (3,754) | (3,754) |
Ending balance, shares at Mar. 31, 2019 | 1,000 | 1,000,000 | 201,030 | |||
Ending balance, value at Mar. 31, 2019 | $ 0 | $ 100 | $ 20 | 36,052,540 | (36,104,944) | (52,284) |
Beginning balance, shares at Dec. 31, 2019 | 1,000 | 0 | 11,201,030 | |||
Beginning balance, value at Dec. 31, 2019 | $ 0 | $ 0 | $ 1,120 | 36,110,927 | (36,254,706) | (142,659) |
Net loss | (27,033) | (27,033) | ||||
Ending balance, shares at Mar. 31, 2020 | 1,000 | 0 | 11,201,030 | |||
Ending balance, value at Mar. 31, 2020 | $ 0 | $ 0 | $ 1,120 | $ 36,110,927 | $ (36,281,739) | $ (169,692) |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Cash flow from operating activities | ||
Net income (loss) | $ (27,033) | $ (3,754) |
Changes in Operating Assets and Liabilities: | ||
Increase in accounts payable | 0 | 550 |
Increase in accrued liabilities | 9,563 | 0 |
Cash used in operating activities | (17,470) | (3,204) |
Cash flows from financing activities | ||
Proceeds from a related party | 17,470 | 6,000 |
Net cash provided by financing activities | 17,470 | 6,000 |
NET CHANGE IN CASH | 0 | 2,796 |
Cash, beginning of period | 0 | 65 |
Cash, end of period | 0 | 0 |
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||
Cash paid during the year for Interest | 0 | 0 |
Cash paid during the year for Income taxes | $ 0 | $ 0 |
1. Organization and Description
1. Organization and Description of Business | 3 Months Ended |
Mar. 31, 2020 | |
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 On June 4, 2019, the Company, XRC, LLC, a Colorado limited liability company (“XRC”) and Xue Ran Gao (“Purchaser”) entered into a Stock Purchase Agreement (the “SPA”), pursuant to which Purchaser agreed to purchase from XRC 11,000,000 shares of common stock of the Company and 964 shares of Series A Preferred Stock of the Company, for aggregate consideration of Four Hundred Ten Thousand Dollars ($410,000) in accordance with the terms and conditions of the SPA. XRC is the controlling shareholder of the Company. This acquisition closed on July 18, 2019. As a result of the purchase, the Purchaser holds a controlling interest in the Company, and may unilaterally determine the election of the Board and other substantive matters requiring approval of the Company’s stockholders. |
2. Summary of Significant Accou
2. Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2020 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited interim financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission ("SEC") and should be read in conjunction with the audited financial statements and notes for the year ended December 31, 2019. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the results of operations for the interim periods presented have been reflected herein. The results of operations for such interim periods are not necessarily indicative of operations for the full year. Notes to the financial statements which would substantially duplicate the disclosures contained in the audited financial statements for the most recent fiscal year ended December 31, 2019, have been omitted. 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. |
3. Going Concern
3. Going Concern | 3 Months Ended |
Mar. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern | NOTE 3 – GOING CONCERN UNCERTAINTIES As reflected in the accompanying unaudited financial statements, the Company has no current operations from which to generate revenue, has an accumulated deficit of $36,281,739 at March 31, 2020 and had a net loss of $27,033 for the three months ended March 31, 2020. 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. Subsequent Events
4. Subsequent Events | 3 Months Ended |
Mar. 31, 2020 | |
Subsequent Events [Abstract] | |
Subsequent Events | NOTE 4 – 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 material subsequent events that require disclosure in these financial statements. |
2. Summary of Significant Acc_2
2. Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying unaudited interim financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission ("SEC") and should be read in conjunction with the audited financial statements and notes for the year ended December 31, 2019. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the results of operations for the interim periods presented have been reflected herein. The results of operations for such interim periods are not necessarily indicative of operations for the full year. Notes to the financial statements which would substantially duplicate the disclosures contained in the audited financial statements for the most recent fiscal year ended December 31, 2019, have been omitted. |
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. |
1. Organization and Descripti_2
1. Organization and Description of Business (Details Narrative) - shares | Mar. 31, 2020 | Dec. 31, 2019 | Jun. 04, 2019 |
Stock owned | 11,201,030 | 11,201,030 | |
Series A Preferred Stock [Member] | |||
Preferred shares issued | 1,000 | 1,000 | |
Xue Ran Gao [Member] | Common Stock [Member] | |||
Stock owned | 11,000,000 | ||
Xue Ran Gao [Member] | Series A Preferred Stock [Member] | |||
Preferred shares issued | 964 |
3. Going Concern (Details Narra
3. Going Concern (Details Narrative) - USD ($) | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
Accumulated deficit | $ (36,281,739) | $ (36,254,706) | |
Net loss | $ (27,033) | $ (3,754) |