Cover
Cover - shares | 3 Months Ended | |
Jan. 31, 2023 | May 23, 2023 | |
Cover [Abstract] | ||
Entity Registrant Name | HUAIZHONG HEALTH GROUP, INC. | |
Entity Central Index Key | 0001593204 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Current Fiscal Year End Date | --10-31 | |
Entity Small Business | true | |
Entity Shell Company | false | |
Entity Emerging Growth Company | true | |
Entity Current Reporting Status | Yes | |
Document Period End Date | Jan. 31, 2023 | |
Entity Filer Category | Non-accelerated Filer | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2023 | |
Entity Ex Transition Period | false | |
Entity Common Stock Shares Outstanding | 31,518,466 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity File Number | 000-55369 | |
Entity Incorporation State Country Code | NV | |
Entity Tax Identification Number | 90-1020141 | |
Entity Address Address Line 1 | Tianan Technology Park | |
Entity Address Address Line 2 | 13/F Headquarters Center Building 16 | |
Entity Address Address Line 3 | 555 Panyu North Ave, Panyu District | |
Entity Address City Or Town | Guangzhou City | |
Entity Address Country | CN | |
City Area Code | 86 (20) | |
Local Phone Number | 2982 9356 | |
Entity Interactive Data Current | Yes |
Balance Sheets
Balance Sheets - USD ($) | Jan. 31, 2023 | Oct. 31, 2022 |
Current Assets | ||
Cash | $ 0 | $ 0 |
Prepaid expenses | 500 | 1,250 |
Total Current Assets | 500 | 1,250 |
Total Assets | 500 | 1,250 |
Current Liabilities | ||
Accounts payable | 19,600 | 9,800 |
Due to related party | 70,922 | 70,922 |
Total Current Liabilities | 90,522 | 80,722 |
Total Liabilities | 90,522 | 80,722 |
Stockholders' Deficit | ||
Common stock: 750,000,000 shares authorized; $0.001 par value 31,518,466 issued and outstanding | 31,518 | 31,518 |
Additional paid in capital | 257,587 | 257,587 |
Accumulated deficit | (379,127) | (368,577) |
Total Stockholders' Deficit | (90,022) | (79,472) |
Total Liabilities and Stockholders' Deficit | $ 500 | $ 1,250 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Jan. 31, 2023 | Oct. 31, 2022 |
Balance Sheets | ||
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock shares authorized | 750,000,000 | 750,000,000 |
Common stock shares issued | 31,518,466 | 31,518,466 |
Common stock shares outstanding | 31,518,466 | 31,518,466 |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Jan. 31, 2023 | Jan. 31, 2022 | |
Statements of Operations (Unaudited) | ||
Revenue | $ 0 | $ 0 |
Operating Expenses: | ||
Professional fees | 9,800 | 9,725 |
General and administrative | 750 | 0 |
Total operating expenses | 10,550 | 9,725 |
Operating Loss | (10,550) | (9,725) |
Net loss before taxes | (10,550) | (9,725) |
Income tax benefit | 0 | 0 |
Net Loss | $ (10,550) | $ (9,725) |
Net loss per common share, basic and diluted | $ (0.0003) | $ (0.0003) |
Basic and diluted weighted average common shares outstanding | 31,518,466 | 31,518,466 |
Statements of Changes in Stockh
Statements of Changes in Stockholders Deficit (Unaudited) - USD ($) | Total | Common Stock | Additional Paid-In Capital | Retained Earnings (Accumulated Deficit) |
Balance, shares at Oct. 31, 2021 | 31,518,466 | |||
Balance, amount at Oct. 31, 2021 | $ (50,301) | $ 31,518 | $ 257,587 | $ (339,406) |
Net loss | (9,725) | $ 0 | 0 | (9,725) |
Balance, shares at Jan. 31, 2022 | 31,518,466 | |||
Balance, amount at Jan. 31, 2022 | (60,026) | $ 31,518 | 257,587 | (349,131) |
Balance, shares at Oct. 31, 2022 | 31,518,466 | |||
Balance, amount at Oct. 31, 2022 | (79,472) | $ 31,518 | 257,587 | (368,577) |
Net loss | (10,550) | $ 0 | 0 | (10,550) |
Balance, shares at Jan. 31, 2023 | 31,518,466 | |||
Balance, amount at Jan. 31, 2023 | $ (90,022) | $ 31,518 | $ 257,587 | $ (379,127) |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Jan. 31, 2023 | Jan. 31, 2022 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (10,550) | $ (9,725) |
Changes in current assets and liabilities: | ||
Accounts receivable | 0 | 0 |
Prepaid expenses | 750 | 0 |
Accounts payable and accrued liabilities | 9,800 | 50 |
Net cash used in operating activities | 0 | (9,675) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Related party advances funding operations | 0 | 9,675 |
Net cash provided by financing activities | 0 | 9,675 |
Net change in cash for the period | 0 | 0 |
Cash at beginning of period | 0 | 0 |
Cash at end of period | 0 | 0 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Cash paid for income taxes | 0 | 0 |
Cash paid for interest | $ 0 | $ 0 |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended |
Jan. 31, 2023 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation of Unaudited Interim Financial Statements 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 unaudited interim 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 result of operations; and (c) cash flows, have been made in order to make the unaudited interim 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 October 31, 2022, as filed with the SEC on March 27, 2023. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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. The estimates and judgments will also affect the reported amounts for certain expenses during the reporting period. Actual results could differ from these good faith estimates and judgments. Reclassification Certain accounts from prior periods have been reclassified to conform to the current period presentation. |
GOING CONCERN
GOING CONCERN | 3 Months Ended |
Jan. 31, 2023 | |
GOING CONCERN | |
GOING CONCERN | NOTE 2 - GOING CONCERN The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. As of January 31,2023, the Company has suffered recurring losses from operations, has an accumulated deficit of $379,127 and has not earned any revenues. The Company intends to fund operations through equity financing arrangements and related party advances, which may be insufficient to fund its capital expenditures, working capital and other cash requirements for the year ending October 31, 2023. The ability of the Company to emerge from an early stage is dependent upon, among other things, obtaining additional financing to continue operations, and development of its business plan. In response to these problems, management intends to raise additional funds through public or private placement offerings. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 3 Months Ended |
Jan. 31, 2023 | |
RELATED PARTY TRANSACTIONS | |
RELATED PARTY TRANSACTIONS | NOTE 3 - RELATED PARTY TRANSACTIONS During the three months ended January 31,2023 and 2022, the Company’s sole officer advanced to the Company an amount of $0 and $9,675 by paying for expenses on behalf of the Company. As of January 31, 2023, and October 31, 2022, the Company was obligated to the officer, for an unsecured, non-interest-bearing demand loan with a balance of $70,922, respectively. Other The Company does not own or lease property or lease office space. The office space used by the Company was arranged by the CEO and President, of the Company to use at no charge. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 3 Months Ended |
Jan. 31, 2023 | |
SUBSEQUENT EVENTS | |
SUBSEQUENT EVENTS | NOTE 4 - SUBSEQUENT EVENTS The Company has evaluated subsequent events from January 31, 2023, through the date these financial statements were issued and determined no additional events to disclose, except as follows: The Company’s sole officer and director advanced to the Company an amount of $18,000 by paying operating expenses on behalf of the Company. On March 27, 2023, the Company entered into a Share Exchange Agreement (the “ Share Exchange Agreement ” Target ”), Seller Pursuant to the Share Exchange Agreement, in exchange for the acquisition of 100% of the ordinary shares issued and outstanding of the Target, the Company issued an aggregate of 1,000,000 shares of common stock, par value $0.001 per share, of the Company to the Seller. At the closing of the acquisition, the Company entered into a lock-up agreement with the Seller with respect to the exchange shares, pursuant to which the Sellers agreed, subject to certain exceptions, not to transfer the exchange shares, or publicly disclose the intention to do so, from the closing of the acquisition until the six months anniversary of the closing. The Share Exchange Agreement contains customary representations and warranties made by the Company, on the one hand, and the Target and the Seller on the other hand, made solely for the benefit of the other, which in certain cases are subject to specified exceptions and qualifications contained in the Share Exchange Agreement or in information provided pursuant to certain disclosure schedules to the Share Exchange Agreement. At the date of filing this Financial Statements, the acquisition was not completed and the shares has not been issued. Prior to the acquisition of the Target on March 27, 2023, the Company was considered a shell company. Effective on March 27, 2023, upon the closing of the acquisition of the Target, the Company has changed its status as a shell company and is no longer deemed to be a shell company. The operations of the Target were fully integrated into the Company since March 27, 2023. Target was formed in 2016 and has been active in the business of supplemental nutrition products distribution. Since Target’s acquisition by the Company, Target has continued to its operations. As a result of the continuing operations of the Target as a wholly owned subsidiary of the Company, the Company has become an operating entity and, thus, not an entity with “no or nominal operations”. Therefore, the Company no longer meets the SEC definition of a Shell Company. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 3 Months Ended |
Jan. 31, 2023 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Basis of Presentation of Unaudited Interim Financial Statements | 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 unaudited interim 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 result of operations; and (c) cash flows, have been made in order to make the unaudited interim 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 October 31, 2022, as filed with the SEC on March 27, 2023. |
Use of Estimates | The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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. The estimates and judgments will also affect the reported amounts for certain expenses during the reporting period. Actual results could differ from these good faith estimates and judgments. |
Reclassification | Certain accounts from prior periods have been reclassified to conform to the current period presentation. |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | Jan. 31, 2023 | Oct. 31, 2022 |
GOING CONCERN | ||
Accumulated deficit | $ (379,127) | $ (368,577) |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 3 Months Ended | ||
Jan. 31, 2023 | Jan. 31, 2022 | Oct. 31, 2022 | |
Due to related party | $ 70,922 | $ 70,922 | |
Sole Officer [Member] | |||
Related party advances funding operations | 0 | $ 9,675 | |
Sole Officer [Member] | Non-interest bearing demand loan payable [Member] | |||
Due to related party | $ 70,922 | $ 70,922 |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | |
Mar. 27, 2023 | Jan. 31, 2023 | Oct. 31, 2022 | |
Common stock, par value | $ 0.001 | $ 0.001 | |
Common stock, shares issued | 31,518,466 | 31,518,466 | |
Sannong Youxuan Holdings Limited [Member] | Subsequent Event [Member] | |||
Common stock, par value | $ 0.001 | ||
Common stock, shares issued | 1,000,000 | ||
Acquisition of ordinary shares issued and outstanding | 100% | ||
Sole Officer and Director [Member] | |||
Payment for operating expenses | $ 18,000 |