Cover
Cover - shares | 9 Months Ended | |
Sep. 30, 2020 | Nov. 03, 2020 | |
Cover [Abstract] | ||
Entity Registrant Name | ARIEL CLEAN ENERGY, INC. | |
Entity Central Index Key | 0001499684 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Entity Small Business | true | |
Entity Shell Company | true | |
Entity Emerging Growth Company | false | |
Entity Current Reporting Status | No | |
Document Period End Date | Sep. 30, 2020 | |
Entity Filer Category | Non-accelerated Filer | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2020 | |
Entity Common Stock Shares Outstanding | 113,296,421 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity File Number | 000-54159 | |
Entity Incorporation State Country Code | DE | |
Entity Tax Identification Number | 84-1209978 | |
Entity Address Postal Zip Code | 100161 | |
Entity Address Address Line 1 | 7th Floor, Naiten Building | |
Entity Address Address Line 2 | No. 1 Six Li Oiao | |
Entity Address City Or Town | Fentai District Beijing | |
City Area Code | 86 | |
Local Phone Number | 1370-139-9692 | |
Entity Interactive Data Current | Yes | |
Entity Address Country | CN |
BALANCE SHEETS (Unaudited)
BALANCE SHEETS (Unaudited) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Current assets: | ||
Cash | $ 0 | $ 0 |
Total current assets | 0 | 0 |
Total assets | 0 | 0 |
Current liabilities: | ||
Accounts payable and accrued liabilities | 0 | 12,561 |
Accrued interest - related party | 9,169 | 6,960 |
Note payable - related party | 76,060 | 24,339 |
Total current liabilities | 85,229 | 43,860 |
Total liabilities | 85,229 | 43,860 |
Shareholders' deficit: | ||
Preferred stock: 50,000,000 authorized; $0.000006 par value; no shares issued and outstanding | 0 | 0 |
Additional paid-in capital | 176,438 | 176,438 |
Accumulated deficit | (262,347) | (220,978) |
Total shareholders' deficit | (85,229) | (43,860) |
Total liabilities and shareholders' deficit | 0 | 0 |
Common Stock Class B [Member] | ||
Shareholders' deficit: | ||
Common stock value | 0 | 0 |
Common Stock Class A [Member] | ||
Shareholders' deficit: | ||
Common stock value | $ 680 | $ 680 |
BALANCE SHEETS (Parenthetical)
BALANCE SHEETS (Parenthetical) - $ / shares | Sep. 30, 2020 | Dec. 31, 2019 |
Preferred stock, shares authorized | 50,000,000 | 50,000,000 |
Preferred stock, shares par value | $ 0.000006 | $ 0.000006 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common Stock Class B [Member] | ||
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, shares par value | $ 0.000006 | $ 0.000006 |
Common stock, shares issued | 0 | 0 |
Common stock, shares outstanding | 0 | 0 |
Common Stock Class A [Member] | ||
Common stock, shares authorized | 1,000,000,000 | 1,000,000,000 |
Common stock, shares par value | $ 0.000006 | $ 0.000006 |
Common stock, shares issued | 113,296,421 | 113,296,421 |
Common stock, shares outstanding | 113,296,421 | 113,296,421 |
STATEMENTS OF OPERATIONS (Unaud
STATEMENTS OF OPERATIONS (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Operating expenses: | ||||
General and administrative | $ 46 | $ 0 | $ 690 | $ 0 |
Professional fees | 3,425 | 0 | 38,470 | 415 |
Total operating expenses | 3,471 | 0 | 39,160 | 415 |
Loss from operations | (3,471) | 0 | (39,160) | (415) |
Other expense: | ||||
Interest expense | (753) | (736) | (2,209) | (2,184) |
Total other expense | (753) | (736) | (2,209) | (2,184) |
Net loss | $ (4,224) | $ (736) | $ (41,369) | $ (2,599) |
Basic and dilutive net loss per common share | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted average number of common shares outstanding - basic and diluted | 113,296,421 | 113,296,421 | 113,296,421 | 113,296,421 |
STATEMENTS OF SHAREHOLDERS DEFI
STATEMENTS OF SHAREHOLDERS DEFICIT (Unaudited) - USD ($) | Total | Preferred Stock [Member] | Class A Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] |
Balance, shares at Dec. 31, 2018 | 113,296,421 | ||||
Balance, amount at Dec. 31, 2018 | $ (40,475) | $ 0 | $ 680 | $ 176,438 | $ (217,593) |
Net loss for the period | (745) | 0 | $ 0 | 0 | (745) |
Balance, shares at Mar. 31, 2019 | 113,296,421 | ||||
Balance, amount at Mar. 31, 2019 | (41,220) | 0 | $ 680 | 176,438 | (218,338) |
Balance, shares at Dec. 31, 2018 | 113,296,421 | ||||
Balance, amount at Dec. 31, 2018 | (40,475) | 0 | $ 680 | 176,438 | (217,593) |
Net loss for the period | (2,599) | ||||
Balance, shares at Sep. 30, 2019 | 113,296,421 | ||||
Balance, amount at Sep. 30, 2019 | (43,074) | 0 | $ 680 | 176,438 | (220,192) |
Balance, shares at Mar. 31, 2019 | 113,296,421 | ||||
Balance, amount at Mar. 31, 2019 | (41,220) | 0 | $ 680 | 176,438 | (218,338) |
Net loss for the period | (1,118) | 0 | $ 0 | 0 | (1,118) |
Balance, shares at Jun. 30, 2019 | 113,296,421 | ||||
Balance, amount at Jun. 30, 2019 | (42,338) | 0 | $ 680 | 176,438 | (219,456) |
Net loss for the period | (736) | 0 | $ 0 | 0 | (736) |
Balance, shares at Sep. 30, 2019 | 113,296,421 | ||||
Balance, amount at Sep. 30, 2019 | (43,074) | 0 | $ 680 | 176,438 | (220,192) |
Balance, shares at Dec. 31, 2019 | 113,296,421 | ||||
Balance, amount at Dec. 31, 2019 | (43,860) | 0 | $ 680 | 176,438 | (220,978) |
Net loss for the period | (15,700) | 0 | $ 0 | 0 | (15,700) |
Balance, shares at Mar. 31, 2020 | 113,296,421 | ||||
Balance, amount at Mar. 31, 2020 | (59,560) | 0 | $ 680 | 176,438 | (236,678) |
Balance, shares at Dec. 31, 2019 | 113,296,421 | ||||
Balance, amount at Dec. 31, 2019 | (43,860) | 0 | $ 680 | 176,438 | (220,978) |
Net loss for the period | (41,369) | ||||
Balance, shares at Sep. 30, 2020 | 113,296,421 | ||||
Balance, amount at Sep. 30, 2020 | (85,229) | 0 | $ 680 | 176,438 | (262,347) |
Balance, shares at Mar. 31, 2020 | 113,296,421 | ||||
Balance, amount at Mar. 31, 2020 | (59,560) | 0 | $ 680 | 176,438 | (236,678) |
Net loss for the period | (21,445) | 0 | $ 0 | 0 | (21,445) |
Balance, shares at Jun. 30, 2020 | 113,296,421 | ||||
Balance, amount at Jun. 30, 2020 | (81,005) | 0 | $ 680 | 176,438 | (258,123) |
Net loss for the period | (4,224) | 0 | $ 0 | 0 | (4,224) |
Balance, shares at Sep. 30, 2020 | 113,296,421 | ||||
Balance, amount at Sep. 30, 2020 | $ (85,229) | $ 0 | $ 680 | $ 176,438 | $ (262,347) |
STATEMENTS OF CASH FLOWS (Unaud
STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Cash flows from operating activities: | ||
Net loss | $ (41,369) | $ (2,599) |
Adjustments to reconcile net loss to net cash used in operations: | ||
Due to a related party | 51,721 | |
Changes in operating assets and liabilities: | ||
Prepaid expense | 0 | 0 |
Accounts payable and accrued expenses | (12,561) | 415 |
Accrued interest - related party | 2,209 | 2,184 |
Net cash used in operating activities | 0 | 0 |
Net change in cash | 0 | 0 |
Cash at beginning of period | 0 | 0 |
Cash at end of period | 0 | 0 |
Supplemental cash flow information | ||
Cash paid for interest | 0 | 0 |
Cash paid for taxes | $ 0 | $ 0 |
DESCRIPTION OF BUSINESS, AND GO
DESCRIPTION OF BUSINESS, AND GOING CONCERN | 9 Months Ended |
Sep. 30, 2020 | |
DESCRIPTION OF BUSINESS, AND GOING CONCERN | |
NOTE 1 - ORGANIZATION, DESCRIPTION OF BUSINESS, AND GOING CONCERN | NOTE 1 –DESCRIPTION OF BUSINESS, AND GOING CONCERN Ariel Clean Energy Inc. (“Ariel” or “the Company”) is currently seeking new business opportunities, including a merger with or acquisition of a target business. Change of Control Effective September 30, 2020, a change of control occurred with respect to the Company. Pursuant to a Securities Purchase Agreement (“ Agreement Buyer Nexus SeaMorri Sellers The Acquired Shares represent 82.55% of the total issued and outstanding Class A common stock of the Company. In addition, pursuant to the Agreement, Nexus assigned to Mr. Yang all of its rights, titles and interests in and to certain loans made by Nexus to the Company totaling $85,229, plus accrued interest (see Note 3). These amounts include certain outstanding payables made by Nexus at closing. On the Closing Date, Mr. Delbert Seabrook, the sole officer of the Company, resigned in all officer capacities from the Company and Mr. Yang was appointed Chief (Principal) Executive Officer, President, Chief (Principal) Financial Officer, Secretary and Treasurer of the Company. In addition, Mr. Yang was appointed a Director of the Company. Going concern The Company’s financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern. This contemplates the realization of assets and the liquidation of liabilities in the normal course of business. The Company will be dependent upon the raising of additional capital through placement of its common stock in order to implement its business plan, or merge with an operating company. There can be no assurance that the Company will be successful in either situation in order to continue as a going concern. 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 in existence. Accordingly, these factors raise substantial doubt as to the Company’s ability to continue as a going concern. The officer and director has committed to advancing certain operating costs of the Company, including compliance costs for being a public company. |
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Sep. 30, 2020 | |
SIGNIFICANT ACCOUNTING POLICIES | |
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited interim financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, the financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments consisting of normal recurring entries necessary for a fair statement of the periods presented for: (a) the financial position; (b) the results of operations; and (c) cash flows, have been made in order to make the financial statements presented not misleading. The results of operations for such interim periods are not necessarily indicative of operations for a full year. The accompanying unaudited interim financial statements should be read in conjunction with the financial statements and related notes included in the Company’s Annual Report on Form 10-K, for the year ended December 31, 2019, as filed with the SEC on July 6, 2020. |
RELATED-PARTY TRANSACTIONS
RELATED-PARTY TRANSACTIONS | 9 Months Ended |
Sep. 30, 2020 | |
RELATED-PARTY TRANSACTIONS | |
NOTE 3 - RELATED-PARTY TRANSACTIONS | NOTE 3 - RELATED-PARTY TRANSACTIONS Note Payable During the nine months ended September 30, 2020 and 2019, a corporation controlled by the Company’s former officer paid operating expenses totaling $51,721 and $0 on behalf of the Company, respectively. Unpaid balances are due on demand and with an annual interest rate of 12%. For the nine months ended September 30, 2020 and 2019, interest expense was $2,209 and $2,184, respectively. Note payable and accrued interest at September 30, 2020 and December 31, 2019 consist of the following: September 30, December 31, 2020 2019 Note payable $ 76,060 $ 24,339 Accrued interest $ 9,169 $ 6,960 |
SIGNIFICANT ACCOUNTING POLICI_2
SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Sep. 30, 2020 | |
SIGNIFICANT ACCOUNTING POLICIES | |
Basis of Presentation | The accompanying unaudited interim financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, the financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments consisting of normal recurring entries necessary for a fair statement of the periods presented for: (a) the financial position; (b) the results of operations; and (c) cash flows, have been made in order to make the financial statements presented not misleading. The results of operations for such interim periods are not necessarily indicative of operations for a full year. The accompanying unaudited interim financial statements should be read in conjunction with the financial statements and related notes included in the Company’s Annual Report on Form 10-K, for the year ended December 31, 2019, as filed with the SEC on July 6, 2020. |
RELATED-PARTY TRANSACTIONS (Tab
RELATED-PARTY TRANSACTIONS (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
RELATED-PARTY TRANSACTIONS | |
Schedule of Note Payable and Accrued Interest | September 30, December 31, 2020 2019 Note payable $ 76,060 $ 24,339 Accrued interest $ 9,169 $ 6,960 |
DESCRIPTION OF BUSINESS, AND _2
DESCRIPTION OF BUSINESS, AND GOING CONCERN (Details Narrative) - Mr. Yang [Member] - Common Stock Class A [Member] - Security Purchase Agreement [Member] | 9 Months Ended |
Sep. 30, 2020USD ($)shares | |
Acqusition of shares, shares | shares | 93,531,000 |
Percentage of shares acquired | 82.55% |
Acqusition of shares, amount | $ | $ 85,229 |
RELATEDPARTY TRANSACTIONS (Deta
RELATEDPARTY TRANSACTIONS (Details) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
RELATED-PARTY TRANSACTIONS | ||
Notes payable | $ 76,060 | $ 24,339 |
Accrued interest | $ 9,169 | $ 6,960 |
RELATEDPARTY TRANSACTIONS (De_2
RELATEDPARTY TRANSACTIONS (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
RELATED-PARTY TRANSACTIONS | ||||
Annual interest rate accrued on promissory notes | 1200.00% | |||
Interest expense | $ 753 | $ 736 | $ 2,209 | $ 2,184 |
Office paid operating expenses | $ 51,721 | $ 0 |