Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jul. 31, 2020 | May 28, 2021 | |
Cover [Abstract] | ||
Entity Registrant Name | Odenza Corp. | |
Entity Central Index Key | 0001489300 | |
Document Type | 10-Q | |
Document Period End Date | Jul. 31, 2020 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --01-31 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business Flag | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | true | |
Entity Common Stock, Shares Outstanding | 3,660,000 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2021 |
Condensed Balance Sheets
Condensed Balance Sheets - USD ($) | Jul. 31, 2020 | Jan. 31, 2020 |
Current asset | ||
Total assets | $ 0 | $ 0 |
Current liabilities | ||
Accrued liabilities | 16,716 | 14,372 |
Due to a related party | 212,249 | 212,249 |
Total liabilities | 228,965 | 226,621 |
Commitments and Contingencies | ||
STOCKHOLDERS' DEFICIT | ||
Common stock, $0.001 par value, 75,000,000 shares authorized 3,660,000 shares issued and outstanding, respectively | 3,660 | 3,660 |
Additional paid in capital | 27,840 | 27,840 |
Accumulated deficit | (260,465) | (258,121) |
Total stockholders' deficit | (228,965) | (226,621) |
Total liabilities and stockholders' deficit | $ 0 | $ 0 |
Condensed Balance Sheets (Paren
Condensed Balance Sheets (Parenthetical) - $ / shares | Jul. 31, 2020 | Jan. 31, 2020 |
Statement of Financial Position [Abstract] | ||
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 75,000,000 | 75,000,000 |
Common stock, shares issued | 3,660,000 | 3,660,000 |
Common stock, shares outstanding | 3,660,000 | 3,660,000 |
Condensed Statements of Operati
Condensed Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2020 | Jul. 31, 2019 | Jul. 31, 2020 | Jul. 31, 2019 | |
Income Statement [Abstract] | ||||
Revenues | ||||
Operating expenses | ||||
General and administrative | 1,172 | 4,232 | 2,344 | 10,728 |
Net loss | $ 1,172 | $ 4,232 | $ 2,344 | $ 10,728 |
Basic and diluted net loss per share | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted average number of shares outstanding | 3,660,000 | 3,660,000 | 3,660,000 | 3,660,000 |
Condensed Statements of Stockho
Condensed Statements of Stockholders' Deficit (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] | Total |
Balance at Jan. 31, 2019 | $ 3,660 | $ 27,840 | $ (239,165) | $ (207,655) |
Balance, shares at Jan. 31, 2019 | 3,660,000 | |||
Net loss | (10,728) | (10,728) | ||
Balance at Jul. 31, 2019 | $ 3,660 | 27,840 | (249,893) | (218,393) |
Balance, shares at Jul. 31, 2019 | 3,660,000 | |||
Balance at Apr. 30, 2019 | $ 3,660 | 27,840 | (245,661) | (214,161) |
Balance, shares at Apr. 30, 2019 | 3,660,000 | |||
Net loss | (4,232) | (4,232) | ||
Balance at Jul. 31, 2019 | $ 3,660 | 27,840 | (249,893) | (218,393) |
Balance, shares at Jul. 31, 2019 | 3,660,000 | |||
Balance at Jan. 31, 2020 | $ 3,660 | 27,840 | (258,121) | (226,621) |
Balance, shares at Jan. 31, 2020 | 3,660,000 | |||
Net loss | (2,344) | (2,344) | ||
Balance at Jul. 31, 2020 | $ 3,660 | 27,840 | (260,465) | (228,965) |
Balance, shares at Jul. 31, 2020 | 3,660,000 | |||
Balance at Apr. 30, 2020 | $ 3,660 | 27,840 | (259,293) | (227,793) |
Balance, shares at Apr. 30, 2020 | 3,660,000 | |||
Net loss | (1,172) | (1,172) | ||
Balance at Jul. 31, 2020 | $ 3,660 | $ 27,840 | $ (260,465) | $ (228,965) |
Balance, shares at Jul. 31, 2020 | 3,660,000 |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2020 | Jul. 31, 2019 | Jul. 31, 2020 | Jul. 31, 2019 | |
Cash Flows From Operating Activities | ||||
Net loss | $ (1,172) | $ (4,232) | $ (2,344) | $ (10,728) |
Change in operating liabilities | ||||
Accrued liabilities | 2,344 | 292 | ||
Net cash used in operations | (10,436) | |||
Cash Flows From Financing Activities | ||||
Due to a related party | 10,436 | |||
Net cash provided by financing activities | 10,436 | |||
Increase in cash | ||||
Cash, beginning of period | ||||
Cash, ending of period | ||||
Cash paid for: | ||||
Interest | ||||
Income taxes |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jul. 31, 2020 | |
Accounting Policies [Abstract] | |
Basis of Presentation | 1. BASIS OF PRESENTATION Unaudited Interim Financial Statements These unaudited interim financial statements may not include all information and footnotes required by US GAAP for complete financial statement disclosure. However, except as disclosed herein, there have been no material changes in the information contained in the notes to the audited financial statements for the year ended January 31, 2020, included in the Company’s Form 10-K and filed with the Securities and Exchange Commission. These unaudited interim financial statements should be read in conjunction with the audited financial statements included in the Form 10-K. In the opinion of management, all adjustments considered necessary for fair presentation and consisting solely of normal recurring adjustments have been made. Operating results for the six months ended July 31, 2020 are not necessarily indicative of the results that may be expected for the year ending January 31, 2021. COVID-19 The COVID-19 pandemic has negatively impacted the global economy, workforces, customers, and created significant volatility and disruption of financial markets. The Company monitors guidance from national and local public health authorities and has implemented health and safety precautions and protocols in response to these guidelines. The extent of the impact of the COVID-19 pandemic has had and will continue to have on the Company’s business is highly uncertain and difficult to predict and quantify at this time. Going Concern The accompanying condensed financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying condensed financial statements, for the six months ended July 31, 2020, the Company incurred a net loss of $2,344, and at July 31, 2020, had a shareholder’s deficit of $228,965. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern within one year of the date that these financial statements are issued. In addition, the Company’s independent registered public accounting firm, in its report on the Company’s January 31, 2020 financial statements, raised substantial doubt about the Company’s ability to continue as a going concern. These financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern. Management has plans to seek additional capital through a private placement of its Common Stock or further director loans as needed. These financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event the Company cannot continue. 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, disclosures 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. Significant estimates include estimates for the accruals of potential liabilities. Net loss per share Basic loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding during the period. Diluted loss per share is computed similar to basic loss 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 stock equivalents had been issued and if the additional common shares were dilutive. At July 31, 2020 and 2019, the Company had no outstanding common stock equivalents. Recent Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Credit Losses - Measurement of Credit Losses on Financial Instruments (“ASC 326”). The standard significantly changes how entities will measure credit losses for most financial assets, including accounts and notes receivables. The standard will replace today’s “incurred loss” approach with an “expected loss” model, under which companies will recognize allowances based on expected rather than incurred losses. Entities will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The standard is effective for interim and annual reporting periods beginning after December 15, 2022. The adoption of ASU 2016-13 is not expected to have a material impact on the Company’s financial position, results of operations, and cash flows. Other recent accounting pronouncements issued by the FASB, its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company’s present or future financial statements. |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Jul. 31, 2020 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | 2. RELATED PARTY TRANSACTIONS As of July 31, 2020 and 2019, the Company owed $212,249 to its Chief Executive Officer for funds advanced to the Company. The amounts are unsecured, are non-interest bearing, and are payable on demand. |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jul. 31, 2020 | |
Subsequent Events [Abstract] | |
Subsequent Events | 3. SUBSEQUENT EVENTS On May 4, 2021, our principal offices were relocated from Malaysia to Hong Kong. On May 4, 2021, Tan Sri Barry resigned from all positions with the Company, including that of President, Chief Executive Officer, Treasurer, Secretary and Chairman of the Board of Directors. On May 4, 2021, Mr. Leung Chi Ping (“Mr. Leung”), was appointed as the President, Chief Executive Officer, Chief Financial Officer and Chairman of the Board of Directors of the Company. On May 4, 2021, Mr. Leung, Alexander Patrick Brazendale, Christopher David Brazendale, Adventure Air Race Investment Limited, Adventure Air Race Talents Limited, and William Alexander Cruickshank acquired 3,386,800 shares of the Company’s common stock, representing approximately 92.54% of the Company’s issued and outstanding common stock. On May 7, 2021, shareholders authorized the Company’s Board of Directors to approve an increase of authorized shares of Common Stock from 75,000,000 to 500,000,000. |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 6 Months Ended |
Jul. 31, 2020 | |
Accounting Policies [Abstract] | |
Unaudited Interim Financial Statements | Unaudited Interim Financial Statements These unaudited interim financial statements may not include all information and footnotes required by US GAAP for complete financial statement disclosure. However, except as disclosed herein, there have been no material changes in the information contained in the notes to the audited financial statements for the year ended January 31, 2020, included in the Company’s Form 10-K and filed with the Securities and Exchange Commission. These unaudited interim financial statements should be read in conjunction with the audited financial statements included in the Form 10-K. In the opinion of management, all adjustments considered necessary for fair presentation and consisting solely of normal recurring adjustments have been made. Operating results for the six months ended July 31, 2020 are not necessarily indicative of the results that may be expected for the year ending January 31, 2021. |
Covid-19 | COVID-19 The COVID-19 pandemic has negatively impacted the global economy, workforces, customers, and created significant volatility and disruption of financial markets. The Company monitors guidance from national and local public health authorities and has implemented health and safety precautions and protocols in response to these guidelines. The extent of the impact of the COVID-19 pandemic has had and will continue to have on the Company’s business is highly uncertain and difficult to predict and quantify at this time. |
Going Concern | Going Concern The accompanying condensed financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying condensed financial statements, for the six months ended July 31, 2020, the Company incurred a net loss of $2,344, and at July 31, 2020, had a shareholder’s deficit of $228,965. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern within one year of the date that these financial statements are issued. In addition, the Company’s independent registered public accounting firm, in its report on the Company’s January 31, 2020 financial statements, raised substantial doubt about the Company’s ability to continue as a going concern. These financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern. Management has plans to seek additional capital through a private placement of its Common Stock or further director loans as needed. These financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event the Company cannot continue. |
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, disclosures 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. Significant estimates include estimates for the accruals of potential liabilities. |
Net Loss Per Share | Net loss per share Basic loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding during the period. Diluted loss per share is computed similar to basic loss 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 stock equivalents had been issued and if the additional common shares were dilutive. At July 31, 2020 and 2019, the Company had no outstanding common stock equivalents. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Credit Losses - Measurement of Credit Losses on Financial Instruments (“ASC 326”). The standard significantly changes how entities will measure credit losses for most financial assets, including accounts and notes receivables. The standard will replace today’s “incurred loss” approach with an “expected loss” model, under which companies will recognize allowances based on expected rather than incurred losses. Entities will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The standard is effective for interim and annual reporting periods beginning after December 15, 2022. The adoption of ASU 2016-13 is not expected to have a material impact on the Company’s financial position, results of operations, and cash flows. Other recent accounting pronouncements issued by the FASB, its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company’s present or future financial statements. |
Basis of Presentation (Details
Basis of Presentation (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | ||||||
Jul. 31, 2020 | Jul. 31, 2019 | Jul. 31, 2020 | Jul. 31, 2019 | Apr. 30, 2020 | Jan. 31, 2020 | Apr. 30, 2019 | Jan. 31, 2019 | |
Accounting Policies [Abstract] | ||||||||
Net loss | $ (1,172) | $ (4,232) | $ (2,344) | $ (10,728) | ||||
Stockholders' deficit | $ (228,965) | $ (218,393) | $ (228,965) | $ (218,393) | $ (227,793) | $ (226,621) | $ (214,161) | $ (207,655) |
Outstanding common stock equivalents |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - USD ($) | Jul. 31, 2020 | Jan. 31, 2020 | Jul. 31, 2019 |
Due to related party | $ 212,249 | $ 212,249 | |
Chief Executive Officer [Member] | |||
Due to related party | $ 212,249 | $ 212,249 |
Subsequent Events (Details Narr
Subsequent Events (Details Narratve) - shares | May 04, 2021 | May 07, 2021 | May 06, 2021 | Jul. 31, 2020 | Jan. 31, 2020 |
Common stock authorized | 75,000,000 | 75,000,000 | |||
Subsequent Event [Member] | Shareholders [Member] | Board of Directors [Member] | |||||
Common stock authorized | 500,000,000 | 75,000,000 | |||
Subsequent Event [Member] | Common Stock [Member] | |||||
Stock issued during period, shares, acquisitions | 3,386,800 | ||||
Equity method investment, ownership percentage | 92.54% |