Cover
Cover - shares | 9 Months Ended | |
Aug. 31, 2021 | Oct. 13, 2021 | |
Cover [Abstract] | ||
Entity Registrant Name | KANGE CORP. | |
Entity Central Index Key | 0001593773 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Current Fiscal Year End Date | --11-30 | |
Entity Small Business | true | |
Entity Shell Company | false | |
Entity Emerging Growth Company | false | |
Entity Current Reporting Status | No | |
Document Period End Date | Aug. 31, 2021 | |
Entity Filer Category | Non-accelerated Filer | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2021 | |
Entity Common Stock Shares Outstanding | 14,396,323 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity Interactive Data Current | No | |
Entity File Number | 333-194055 | |
Entity Incorporation State Country Code | NV | |
Entity Tax Identification Number | 33-1230169 | |
Entity Address Address Line 1 | 11724 Ventura Blvd Suite B | |
Entity Address City Or Town | Studio City | |
Entity Address State Or Province | CA | |
Entity Address Postal Zip Code | 91604 | |
City Area Code | 818 | |
Local Phone Number | 853-7033 |
Balance Sheets
Balance Sheets - USD ($) | Aug. 31, 2021 | Nov. 30, 2020 |
Current Assets | ||
Cash | $ 0 | $ 0 |
Prepaid expenses | 500 | 0 |
Total Current Assets | 500 | 0 |
TOTAL ASSETS | 500 | 0 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 1,331 | 5,500 |
Due to related parties | 48,951 | 16,276 |
Total Current Liabilities | 50,282 | 21,776 |
Stockholders' Deficit | ||
Common stock, $0.001 par value, 750,000,000 shares authorized, 14,396,323 shares issued and outstanding | 14,396 | 14,396 |
Additional paid-in capital | 1,276,084 | 1,276,084 |
Accumulated deficit | (1,340,262) | (1,312,256) |
Total Stockholders' Deficit | (49,782) | (21,776) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 500 | $ 0 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Aug. 31, 2021 | Nov. 30, 2020 |
Stockholders' deficit | ||
Common stock, Par value | $ 0.001 | $ 0.001 |
Common stock, Authorized | 750,000,000 | 750,000,000 |
Common stock, Issued | 14,396,323 | 14,396,323 |
Common stock, Outstanding | 14,396,323 | 14,396,323 |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Aug. 31, 2021 | Aug. 31, 2020 | Aug. 31, 2021 | Aug. 31, 2020 | |
Statements of Operations (Unaudited) | ||||
Revenues | $ 0 | $ 0 | $ 0 | $ 0 |
Operating Expenses | ||||
General and administrative | 17,581 | 0 | 28,006 | 1,100 |
Total operating expenses | 17,581 | 28,006 | 1,100 | |
Operating loss | (17,581) | 0 | (28,006) | (1,100) |
Other income (expense) | ||||
Total other income (expense) | 0 | 0 | 0 | 0 |
Net loss | $ (17,581) | $ 0 | $ (28,006) | $ (1,100) |
Basic and diluted loss per common share | $ 0 | $ 0 | $ 0 | $ 0 |
Basic and diluted weighted average common shares outstanding | 14,396,323 | 14,396,323 | 14,396,323 | 14,421,375 |
Statement of Changes in Stockho
Statement of Changes in Stockholders Deficit (Unaudited) - USD ($) | Total | Common Stock | Additional Paid-In Capital | Accumulated Deficit |
Balance, shares at Nov. 30, 2019 | 14,553,465 | |||
Balance, amount at Nov. 30, 2019 | $ (4,129) | $ 14,553 | $ 1,292,474 | $ (1,311,156) |
Common shares cancelled, shares | (157,142) | |||
Common shares cancelled, amount | (16,547) | $ (157) | (16,390) | 0 |
Net loss for the period | (1,100) | $ 0 | 0 | (1,100) |
Balance, shares at Feb. 29, 2020 | 14,396,323 | |||
Balance, amount at Feb. 29, 2020 | (21,776) | $ 14,396 | 1,276,084 | (1,312,256) |
Net loss for the period | 0 | $ 0 | 0 | 0 |
Balance, shares at May. 31, 2020 | 14,396,323 | |||
Balance, amount at May. 31, 2020 | (21,776) | $ 14,396 | 1,276,084 | (1,312,256) |
Net loss for the period | 0 | $ 0 | 0 | 0 |
Balance, shares at Aug. 31, 2020 | 14,396,323 | |||
Balance, amount at Aug. 31, 2020 | (21,776) | $ 14,396 | 1,276,084 | (1,312,256) |
Balance, shares at Nov. 30, 2020 | 14,396,323 | |||
Balance, amount at Nov. 30, 2020 | (21,776) | $ 14,396 | 1,276,084 | (1,312,256) |
Net loss for the period | (1,000) | $ 0 | 0 | (1,000) |
Balance, shares at Feb. 28, 2021 | 14,396,323 | |||
Balance, amount at Feb. 28, 2021 | (22,776) | $ 14,396 | 1,276,084 | (1,313,256) |
Net loss for the period | (9,425) | $ 0 | 0 | (9,425) |
Balance, shares at May. 31, 2021 | 14,396,323 | |||
Balance, amount at May. 31, 2021 | (32,201) | $ 14,396 | 1,276,084 | (1,322,681) |
Net loss for the period | (17,581) | $ 0 | 0 | (17,581) |
Balance, shares at Aug. 31, 2021 | 14,396,323 | |||
Balance, amount at Aug. 31, 2021 | $ (49,782) | $ 14,396 | $ 1,276,084 | $ (1,340,262) |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Aug. 31, 2021 | Aug. 31, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (28,006) | $ (1,100) |
Changes in operating assets and liabilities: | ||
Prepaid expenses | (500) | 0 |
Accounts payable and accrued liabilities | (4,169) | (1,400) |
Net cash used in operating activities | (32,675) | (2,500) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from related party | 32,675 | 2,500 |
Net cash provided by financing activities | 32,675 | 2,500 |
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 |
NON-CASH INVESTING AND FINANCING ACTIVITIES | ||
Common shares cancelled for return of equity investment | $ 0 | $ 16,547 |
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Aug. 31, 2021 | |
SIGNIFICANT ACCOUNTING POLICIES | |
NOTE 1 - SIGNIFICANT ACCOUNTING POLICIES | NOTE 1 – 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 (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, the financial statements are condensed and do not include all of the information and footnotes required by GAAP 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 November 30, 2020, as filed with the SEC on September 15, 2021. Use of Estimates The preparation of financial statements in conformity with GAAP 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. |
GOING CONCERN AND LIQUIDITY CON
GOING CONCERN AND LIQUIDITY CONSIDERATION | 9 Months Ended |
Aug. 31, 2021 | |
GOING CONCERN AND LIQUIDITY CONSIDERATION | |
NOTE 2 - GOING CONCERN AND LIQUIDITY CONSIDERATION | NOTE 2 – GOING CONCERN AND LIQUIDITY CONSIDERATION Going Concern The Company’s financial statements are prepared in accordance with GAAP applicable to a going concern. This contemplates the realization of assets and the liquidation of liabilities in the normal course of business. Currently, the Company does not have material assets, nor does it have operations or a source of revenue sufficient to cover its operation costs and allow it to continue as a going concern. The Company has an accumulated deficit of $1,340,262. The Company will be dependent upon the raising of additional capital through placement of 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 officers and directors have committed to advancing certain operating costs of the Company, including compliance costs for being a public company. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 9 Months Ended |
Aug. 31, 2021 | |
RELATED PARTY TRANSACTIONS | |
NOTE 3 - RELATED PARTY TRANSACTIONS | NOTE 3 – RELATED PARTY TRANSACTIONS In support of the Company’s efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by shareholders. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances are non-interest bearing, considered temporary in nature, and have not been formalized by a promissory note. At August 31, 2021 and November 30, 2020, the Company owed $48,951 and $16,276, respectively, to AMJ Global Entertainment LLC, a related party controlled by the Company’s CEO and director. The amounts are unsecured, non-interest bearing and due on demand. During the nine months ended August 31, 2021 and 2020, the Company received proceeds of $32,675 and $2,500, respectively, from the related party. |
PREPAID EXPENSES
PREPAID EXPENSES | 9 Months Ended |
Aug. 31, 2021 | |
PREPAID EXPENSES | |
NOTE 4 - PREPAID EXPENSES | NOTE 4 – PREPAID EXPENSES At August 31, 2021 and November 30, 2020, the Company had prepaid professional fees of $500 and $0, respectively. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Aug. 31, 2021 | |
SUBSEQUENT EVENTS | |
NOTE 5 - SUBSEQUENT EVENTS | NOTE 5 – SUBSEQUENT EVENTS The Company has evaluated events occurring subsequent to August 31, 2021 through the date these financial statements were issued, and determined there are no events requiring disclosure. |
SIGNIFICANT ACCOUNTING POLICI_2
SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Aug. 31, 2021 | |
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 (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, the financial statements are condensed and do not include all of the information and footnotes required by GAAP 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 November 30, 2020, as filed with the SEC on September 15, 2021. |
Use of Estimates | The preparation of financial statements in conformity with GAAP 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. |
GOING CONCERN AND LIQUIDITY C_2
GOING CONCERN AND LIQUIDITY CONSIDERATION (Detail Narrative) - USD ($) | Aug. 31, 2021 | Nov. 30, 2020 |
GOING CONCERN AND LIQUIDITY CONSIDERATION | ||
Accumulated deficit | $ (1,340,262) | $ (1,312,256) |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 9 Months Ended | ||
Aug. 31, 2021 | Aug. 31, 2020 | Nov. 30, 2020 | |
Due to related party | $ 48,951 | $ 16,276 | |
Amj Global [Member] | |||
Due to related party | 48,951 | $ 16,276 | |
Proceeds from the related party | $ 32,675 | $ 2,500 |
PREPAID EXPENSES (Details Narra
PREPAID EXPENSES (Details Narrative) - USD ($) | 9 Months Ended | 12 Months Ended |
Aug. 31, 2021 | Nov. 30, 2020 | |
RELATED PARTY TRANSACTIONS | ||
Prepaid professional fees | $ 500 | $ 0 |