Cover
Cover - shares | 9 Months Ended | |
May 31, 2021 | May 31, 2023 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | May 31, 2021 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2022 | |
Current Fiscal Year End Date | --08-31 | |
Entity File Number | 333-194070 | |
Entity Registrant Name | Dengfeng Group Limited | |
Entity Central Index Key | 0001585149 | |
Entity Tax Identification Number | 80-0922058 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 1185 Avenue of the Americas | |
Entity Address, Address Line Two | 3rd Floor | |
Entity Address, City or Town | New York | |
Entity Address, State or Province | NY | |
Entity Address, Postal Zip Code | 10036 | |
City Area Code | 646 | |
Local Phone Number | 768 -8417 | |
Entity Current Reporting Status | No | |
Entity Interactive Data Current | No | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | true | |
Entity Common Stock, Shares Outstanding | 11,020,000 |
Balance Sheets (Unaudited)
Balance Sheets (Unaudited) - USD ($) | May 31, 2021 | Aug. 31, 2020 |
ASSETS | ||
Total Assets | ||
Current liabilities | ||
Accounts payable | 3,719 | 5,719 |
Loan form shareholder | 20,774 | 14,251 |
Notes payable related parties | 12,795 | |
Total liabilities | 37,287 | 19,934 |
Commitments and Contingencies | ||
Stockholders’ Equity | ||
Common stock, Par Value $0.001, 75,000,000 shares authorized 11,020,000 issued and outstanding as of May 31, 2021, and August 31, 2020 respectively | 11,020 | 11,020 |
Additional paid in capital | 35,392 | 35,392 |
Accumulated deficit | (83,699) | (66,346) |
Total Stockholders’ (Deficit) | (37,287) | (19,934) |
Total Liabilities and Stockholders’ (Equity) |
Balance Sheets (Unaudited) (Par
Balance Sheets (Unaudited) (Parenthetical) - $ / shares | May 31, 2021 | Aug. 31, 2020 |
Statement of Financial Position [Abstract] | ||
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorised | 75,000,000 | 75,000,000 |
Common stock, shares issued | 11,020,000 | 11,020,000 |
Common stock, shares outstanding | 11,020,000 | 11,020,000 |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
May 31, 2021 | May 31, 2020 | May 31, 2021 | May 31, 2020 | |
Income Statement [Abstract] | ||||
Revenue | ||||
Operating Expenses: | ||||
Administrative expenses | 6,559 | 17,353 | ||
Total operating expenses | 6,559 | 17,353 | ||
(Loss) from operations | (6,559) | (17,353) | ||
Other expense | ||||
Other (expense) net | ||||
Income (loss) before provision for income taxes | (6,559) | (17,353) | ||
Provision for income taxes | ||||
Net (Loss) | $ (6,559) | $ (17,353) | ||
Basic and diluted earnings(loss) per common share | $ 0 | $ 0 | ||
Weighted average number of shares outstanding | 11,020,000 | 11,020,000 | 11,020,000 | 11,020,000 |
Statements of Changes in Stockh
Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance at Aug. 31, 2020 | $ 11,020 | $ 35,392 | $ (66,346) | $ (19,934) |
Balance, shares at Aug. 31, 2020 | 11,020,000 | |||
Net loss | (10,795) | (10,795) | ||
Balance at Feb. 28, 2021 | $ 11,020 | 35,392 | (77,141) | (30,729) |
Balance, shares at Feb. 28, 2021 | 11,020,000 | |||
Balance at Aug. 31, 2020 | $ 11,020 | 35,392 | (66,346) | (19,934) |
Balance, shares at Aug. 31, 2020 | 11,020,000 | |||
Net loss | (17,353) | |||
Balance at May. 31, 2021 | $ 11,020 | 35,392 | (83,699) | (37,287) |
Balance, shares at May. 31, 2021 | 11,020,000 | |||
Balance at Feb. 28, 2021 | $ 11,020 | 35,392 | (77,141) | (30,729) |
Balance, shares at Feb. 28, 2021 | 11,020,000 | |||
Net loss | (6,559) | (6,559) | ||
Balance at May. 31, 2021 | $ 11,020 | $ 35,392 | $ (83,699) | $ (37,287) |
Balance, shares at May. 31, 2021 | 11,020,000 |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | ||
May 31, 2021 | May 31, 2020 | Feb. 28, 2021 | May 31, 2021 | May 31, 2020 | |
Cash Flows From Operating Activities: | |||||
Net loss | $ (6,559) | $ (10,795) | $ (17,353) | ||
Changes in operating assets and liabilities | |||||
Accounts payable | (2,000) | ||||
Net cash provided by (used for) operating activities | (6,559) | (19,353) | |||
Cash Flows From Investing Activities: | |||||
Net cash provided by (used for) investing activities | |||||
Cash Flows From Financing Activities: | |||||
Notes payable related parties | 6,559 | 19,353 | |||
Net cash provided by (used for) financing activities | 6,559 | 19,353 | |||
Net Increase (Decrease) In Cash | |||||
Cash At The Beginning Of The Period | |||||
Cash At The End Of The Period | |||||
Supplemental disclosure of cash flow information: | |||||
Cash paid for interest | |||||
Cash paid for taxes |
ORGANIZATION AND DESCRIPTION OF
ORGANIZATION AND DESCRIPTION OF BUSINESS | 9 Months Ended |
May 31, 2021 | |
Accounting Policies [Abstract] | |
ORGANIZATION AND DESCRIPTION OF BUSINESS | NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS Dengfeng Group Limited (previously known as Romulus Corp.) (“the Company”, “we” “us’) was incorporated under the laws of the State of Nevada April 16, 2013 On March 23, 2015, Artem Rusakov sold 8,000,000 72.59 Also on March 23, 2015, the Company entered into an Agreement and Plan of Merger and Reorganization pursuant to which its wholly-owned subsidiary, Romulus Merger Sub, Inc., a Delaware corporation incorporated on March 20, 2015, will merge with and into Natural Resources Corporation, a Delaware corporation (“NRC”), as a result of which, NRC will be the surviving corporation and a wholly-owned subsidiary of the Company. In the aggregate, holders of the shares of NRC’s common stock will receive approximately 124,000,000 The Company has been dormant since May 9, 2016. On November 30, 2020, as a result of a receivership in Clark County, Nevada, Case Number: A-20-816623-B, Custodian Ventures LLC (“Custodian”) was appointed receiver of the Company. On November 30, 2020, Custodian appointed David Lazar as the Company’s Chief Executive Officer, President, Secretary, Chief Financial Officer, Chief Executive Officer and Chairman of the Board of Directors. On June 28, 2021, 10,000,000 0.001 the Purchasers became approximately 90% holder of the voting rights of the issued and outstanding share capital of the Company on a fully-diluted basis of the Company, and became the controlling shareholder. On June 28, 2021, David Lazar as the Company’s Chief Executive Officer, President, Secretary, Chief Financial Officer, Chief Executive Officer and Chairman of the Board of Directors. At the effective date of the transfer, Chan Yit Wei consented to act as the new President, CEO, CFO, Treasurer, Secretary and Chairman of the Board of Directors of the Company. On September 24, 2021, Romulus Corp. (the “Company”), amended its articles of incorporation change its name to Dengfeng Group Limited. On September 24, 2021, the Company amended its articles of incorporation to reverse split its common stock at a rate of 1 for 100. The Company’s year-end is August 31. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
May 31, 2021 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying financial statements have been prepared in accordance with the Financial Accounting Standards Board (“ FASB Codification GAAP Going Concern The accompanying financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business for the twelve months following the date of these financial statements. As of August 31, 2020, the Company had no 66,346 Because the Company does not expect that existing operational cash flow will be sufficient to fund presently anticipated operations, this raises substantial doubt about the Company’s ability to continue as a going concern. Therefore, the Company will need to raise additional funds and is currently exploring alternative sources of financing. Recently the Company being funded by David Lazar who extended interest-free demand loans to the Company. Historically, the Company raised capital through private placements, to finance working capital needs and may attempt to raise capital through the sale of common stock or other securities and obtaining some short-term loans. The Company will be required to continue to so until its operations become profitable. Also, the Company has, in the past, paid for consulting services with its common stock to maximize working capital, and intends to continue this practice where feasible. Management’s Representation of Interim Financial Statements The accompanying unaudited financial statements have been prepared by the Company without audit pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The Company uses the same accounting policies in preparing quarterly and annual financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) have been condensed or omitted as allowed by such rules and regulations, and management believes that the disclosures are adequate to make the information presented not misleading. These financial statements include all of the adjustments, which in the opinion of management are necessary to a fair presentation of financial position and results of operations. All such adjustments are of a normal and recurring nature. Interim results are not necessarily indicative of results for a full year. These financial statements should be read in conjunction with the audited financial statements and notes thereto on August 31, 2020, as presented in the Company’s Annual Report on Form 10-K. Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of 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. The most significant estimates relate to income taxes and contingencies. The Company bases its estimates on historical experience, known or expected trends, and various other assumptions that are believed to be reasonable given the quality of information available as of the date of these financial statements. The results of these assumptions provide the basis for making estimates about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results could differ from these estimates. Cash and cash equivalents The Company considers all highly liquid temporary cash investments with an original maturity of three months or less to be cash equivalents. The Company had no Income taxes The Company accounts for income taxes under FASB ASC 740, “Accounting for Income Taxes” “Accounting for Uncertainty in Income Taxes” The amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. The Company assesses the validity of its conclusions regarding uncertain tax positions quarterly to determine if facts or circumstances have arisen that might cause it to change its judgment regarding the likelihood of a tax position’s sustainability under audit. Net Loss per Share Net loss per common share is computed by dividing net loss by the weighted average common shares outstanding during the period as defined by Financial Accounting Standards, ASC Topic 260, “Earnings per Share.” Basic earnings per common share (“EPS”) calculations are determined by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per common share calculations are determined by dividing net income by the weighted average number of common shares and dilutive common share equivalents outstanding. Recent Accounting Pronouncements There are no recent accounting pronouncements that impact the Company’s operations. |
EQUITY
EQUITY | 9 Months Ended |
May 31, 2021 | |
Equity [Abstract] | |
EQUITY | NOTE 3 – EQUITY Common Stock The Company has authorized 75,000,000 0.001 11,020,000 |
RELATED PARTY NOTES PAYABLE
RELATED PARTY NOTES PAYABLE | 9 Months Ended |
May 31, 2021 | |
Debt Disclosure [Abstract] | |
RELATED PARTY NOTES PAYABLE | NOTE 4 – RELATED PARTY NOTES PAYABLE All of the Company’s financing has come subsequent to August 31, 2020 from its controlling shareholders. As of May 31, 2021, controlling shareholders had lent $ 12,975 20,774 |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 9 Months Ended |
May 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 5 – COMMITMENTS AND CONTINGENCIES The Company did not have any contractual commitments as of May 31, 2021 and August 31, 2020. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
May 31, 2021 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 6 – SUBSEQUENT EVENTS 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 except as follows: On April 19, 2021 the Company designated 10,000,000 0.0001 4,450 On June 28, 2021 the Company entered into a Stock Purchase Agreement with the Purchasers. Pursuant to the Agreement, the Company agreed to sell to the Purchasers 10,000,000 0.001 260,000 Each share of Series A Preferred Stock is convertible into 10 (ten) shares of common stock |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
May 31, 2021 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying financial statements have been prepared in accordance with the Financial Accounting Standards Board (“ FASB Codification GAAP |
Going Concern | Going Concern The accompanying financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business for the twelve months following the date of these financial statements. As of August 31, 2020, the Company had no 66,346 Because the Company does not expect that existing operational cash flow will be sufficient to fund presently anticipated operations, this raises substantial doubt about the Company’s ability to continue as a going concern. Therefore, the Company will need to raise additional funds and is currently exploring alternative sources of financing. Recently the Company being funded by David Lazar who extended interest-free demand loans to the Company. Historically, the Company raised capital through private placements, to finance working capital needs and may attempt to raise capital through the sale of common stock or other securities and obtaining some short-term loans. The Company will be required to continue to so until its operations become profitable. Also, the Company has, in the past, paid for consulting services with its common stock to maximize working capital, and intends to continue this practice where feasible. |
Management’s Representation of Interim Financial Statements | Management’s Representation of Interim Financial Statements The accompanying unaudited financial statements have been prepared by the Company without audit pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The Company uses the same accounting policies in preparing quarterly and annual financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) have been condensed or omitted as allowed by such rules and regulations, and management believes that the disclosures are adequate to make the information presented not misleading. These financial statements include all of the adjustments, which in the opinion of management are necessary to a fair presentation of financial position and results of operations. All such adjustments are of a normal and recurring nature. Interim results are not necessarily indicative of results for a full year. These financial statements should be read in conjunction with the audited financial statements and notes thereto on August 31, 2020, as presented in the Company’s Annual Report on Form 10-K. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of 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. The most significant estimates relate to income taxes and contingencies. The Company bases its estimates on historical experience, known or expected trends, and various other assumptions that are believed to be reasonable given the quality of information available as of the date of these financial statements. The results of these assumptions provide the basis for making estimates about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results could differ from these estimates. |
Cash and cash equivalents | Cash and cash equivalents The Company considers all highly liquid temporary cash investments with an original maturity of three months or less to be cash equivalents. The Company had no |
Income taxes | Income taxes The Company accounts for income taxes under FASB ASC 740, “Accounting for Income Taxes” “Accounting for Uncertainty in Income Taxes” The amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. The Company assesses the validity of its conclusions regarding uncertain tax positions quarterly to determine if facts or circumstances have arisen that might cause it to change its judgment regarding the likelihood of a tax position’s sustainability under audit. |
Net Loss per Share | Net Loss per Share Net loss per common share is computed by dividing net loss by the weighted average common shares outstanding during the period as defined by Financial Accounting Standards, ASC Topic 260, “Earnings per Share.” Basic earnings per common share (“EPS”) calculations are determined by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per common share calculations are determined by dividing net income by the weighted average number of common shares and dilutive common share equivalents outstanding. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements There are no recent accounting pronouncements that impact the Company’s operations. |
ORGANIZATION AND DESCRIPTION _2
ORGANIZATION AND DESCRIPTION OF BUSINESS (Details Narrative) - $ / shares | 9 Months Ended | ||||
Sep. 24, 2021 | Jun. 28, 2021 | Mar. 23, 2015 | May 31, 2021 | Apr. 19, 2021 | |
Incorporated Country | NV | ||||
Incorporation date | Apr. 16, 2013 | ||||
Subsequent Event [Member] | |||||
Reserve stock split, description | the Company amended its articles of incorporation to reverse split its common stock at a rate of 1 for 100. | ||||
Series A Preferred Stock [Member] | |||||
Preferred stock, par value | $ 0.0001 | ||||
Series A Preferred Stock [Member] | Subsequent Event [Member] | |||||
Number of shares transferred | 10,000,000 | ||||
Preferred stock, par value | $ 0.001 | ||||
Preferred stock, voting rights | the Purchasers became approximately 90% holder of the voting rights of the issued and outstanding share capital of the Company on a fully-diluted basis of the Company, and became the controlling shareholder. | ||||
Eastwin Capital Pte Ltd [Member] | |||||
Number of common stock sold | 8,000,000 | ||||
Percentage of ownership transferred | 72.59% | ||||
Natural Resources Corporation [Member] | |||||
Number of common stock | 124,000,000 |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | May 31, 2021 | Aug. 31, 2020 |
Accounting Policies [Abstract] | ||
Cash | $ 0 | $ 0 |
Accumulated deficit | $ 83,699 | $ 66,346 |
EQUITY (Details Narrative)
EQUITY (Details Narrative) - $ / shares | May 31, 2021 | Aug. 31, 2020 |
Equity [Abstract] | ||
Common stock, shares authorized | 75,000,000 | 75,000,000 |
Common stock par value | $ 0.001 | $ 0.001 |
Common stock shares issued | 11,020,000 | 11,020,000 |
Common stock shares outstanding | 11,020,000 | 11,020,000 |
RELATED PARTY NOTES PAYABLE (De
RELATED PARTY NOTES PAYABLE (Details Narrative) - USD ($) | May 31, 2021 | Aug. 31, 2020 |
Debt Disclosure [Abstract] | ||
Notes payable related parties | $ 12,975 | |
Loan from shareholder | $ 20,774 | $ 14,251 |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) - USD ($) | Jun. 28, 2021 | Apr. 19, 2021 |
Subsequent Event [Line Items] | ||
Stock issued for service, value | $ 4,450 | |
Subsequent Event [Member] | ||
Subsequent Event [Line Items] | ||
Conversion of Stock, Description | Each share of Series A Preferred Stock is convertible into 10 (ten) shares of common stock | |
Series A Preferred Stock [Member] | ||
Subsequent Event [Line Items] | ||
Designated shares | 10,000,000 | |
Preferred stock, par value | $ 0.0001 | |
Series A Preferred Stock [Member] | Subsequent Event [Member] | ||
Subsequent Event [Line Items] | ||
Preferred stock, par value | $ 0.001 | |
Number of shares transferred | 10,000,000 | |
Proceeds from equity | $ 260,000 |