Cover
Cover - shares | 6 Months Ended | |
May 31, 2022 | Dec. 12, 2022 | |
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 | May 31, 2022 | |
Entity Filer Category | Non-accelerated Filer | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2022 | |
Entity Common Stock Shares Outstanding | 89,623,323 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
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 | |
Entity Interactive Data Current | No |
Condensed Balance Sheets
Condensed Balance Sheets - USD ($) | May 31, 2022 | Nov. 30, 2021 |
Current Assets | ||
Cash | $ 0 | $ 0 |
Total Current Assets | 0 | 0 |
TOTAL ASSETS | 0 | 0 |
Current Liabilities | ||
Accounts payable | 6,680 | 4,000 |
Due to related party | 2,823 | 67,107 |
Total Current Liabilities | 9,503 | 71,107 |
Stockholders' Deficit | ||
Common stock, $0.001 par value, 750,000,000 shares authorized, 89,623,323 and 14,396,323 shares issued and outstanding as of May 31, 2022 and November 30, 2021, respectively | 89,623 | 14,396 |
Additional paid-in capital | 3,255,107 | 1,276,084 |
Accumulated deficit | (3,354,233) | (1,361,587) |
Total Stockholders' Deficit | (9,503) | (71,107) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 0 | $ 0 |
Condensed Balance Sheets (Paren
Condensed Balance Sheets (Parenthetical) - $ / shares | May 31, 2022 | Nov. 30, 2021 |
Stockholders' deficit | ||
Common stock, Par value | $ 0.001 | $ 0.001 |
Common stock, Authorized | 750,000,000 | 750,000,000 |
Common stock, Issued | 89,623,323 | 14,396,323 |
Common stock, Outstanding | 89,623,323 | 14,396,323 |
Condensed Statements of Operati
Condensed Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
May 31, 2022 | May 31, 2021 | May 31, 2022 | May 31, 2021 | |
Condensed Statements of Operations (Unaudited) | ||||
Revenues | $ 0 | $ 0 | $ 0 | $ 0 |
Operating Expenses | ||||
General and administrative | 5,348 | 9,425 | 5,503 | 10,425 |
Management compensation | 0 | 0 | 273,074 | 0 |
Total operating expenses | 5,348 | 9,425 | 278,577 | 10,425 |
Operating loss | (5,348) | (9,425) | (278,577) | (10,425) |
Other expense | ||||
Loss on settlement of debt - related party | 0 | 0 | (1,714,069) | 0 |
Total other expense | 0 | 0 | (1,714,069) | 0 |
Net loss | $ (5,348) | $ (9,425) | $ (1,992,646) | $ (10,425) |
Basic and diluted loss per common share | $ 0 | $ 0 | $ (0.03) | $ 0 |
Basic and diluted weighted average common shares outstanding | 89,623,323 | 14,396,323 | 65,780,886 | 14,396,323 |
Condensed Statement of Changes
Condensed Statement of Changes in Stockholders Deficit (Unaudited) - USD ($) | Total | Common Stock | Additional Paid-In Capital | Retained Earnings (Accumulated Deficit) |
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) |
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 | (10,425) | |||
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) |
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) |
Balance, shares at Nov. 30, 2021 | 14,396,323 | |||
Balance, amount at Nov. 30, 2021 | (71,107) | $ 14,396 | 1,276,084 | (1,361,587) |
Net loss for the period | (1,987,298) | $ 0 | 0 | (1,987,298) |
Common stock issued for settlement of debt - related party, shares | 65,227,000 | |||
Common stock issued for settlement of debt - related party, amount | 1,781,176 | $ 65,227 | 1,715,949 | 0 |
Common stock issued for compensation - related party, shares | 10,000,000 | |||
Common stock issued for compensation - related party, amount | 273,074 | $ 10,000 | 263,074 | 0 |
Balance, shares at Feb. 28, 2022 | 89,623,323 | |||
Balance, amount at Feb. 28, 2022 | (4,155) | $ 89,623 | 3,255,107 | (3,348,885) |
Balance, shares at Nov. 30, 2021 | 14,396,323 | |||
Balance, amount at Nov. 30, 2021 | (71,107) | $ 14,396 | 1,276,084 | (1,361,587) |
Net loss for the period | $ (1,992,646) | |||
Balance, shares at May. 31, 2022 | 10,000,000 | 89,623,323 | ||
Balance, amount at May. 31, 2022 | $ (9,503) | $ 89,623 | 3,255,107 | (3,354,233) |
Balance, shares at Feb. 28, 2022 | 89,623,323 | |||
Balance, amount at Feb. 28, 2022 | (4,155) | $ 89,623 | 3,255,107 | (3,348,885) |
Net loss for the period | $ (5,348) | $ 0 | 0 | (5,348) |
Balance, shares at May. 31, 2022 | 10,000,000 | 89,623,323 | ||
Balance, amount at May. 31, 2022 | $ (9,503) | $ 89,623 | $ 3,255,107 | $ (3,354,233) |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
May 31, 2022 | May 31, 2021 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (1,992,646) | $ (10,425) |
Adjustment to reconcile net loss to net cash used in operating activities: | ||
Stock based compensation - related party | 273,074 | 0 |
Loss on settlement of debt - related party | 1,714,069 | 0 |
Changes in operating assets and liabilities: | ||
Prepaid expenses | 0 | (11,250) |
Accounts payable | 2,680 | (5,500) |
Net cash used in operating activities | (2,823) | (27,175) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from related party | 2,823 | 27,175 |
Net cash provided by financing activities | 2,823 | 27,175 |
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 stock issued for settlement of related party debt | $ 67,107 |
BUSINESS AND SIGNIFICANT ACCOUN
BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
May 31, 2022 | |
BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES | |
BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES | NOTE 1 – BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES Business Kange Corp. (“Kange,” the “Company,” “we,” “us,” or “our”) was incorporated under the laws of the State of Nevada on August 16, 2013. We are a start-up company developing mobile software products for Apple and Android platforms, starting in Estonia and Europe, which is our initial intended market. Apple is a trademark of Apple Inc., and Android is a trademark of Alphabet Inc. During 2017, we began focusing on the intersection of technology and wholistic technology-based health treatments. We retained an advisor having substantial experience in the technology sector, and two former professional athletes to advise us regarding sports health issues and treatments. We intend to provide services to formulate a treatment model to meet the needs of professional athletes that suffer from PTSD and the early onset of dementia and Alzheimer’s. The Company is currently evaluating operations in the wholistic health industry. 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, 2021, as filed with the SEC on March 11, 2022. 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 | 6 Months Ended |
May 31, 2022 | |
GOING CONCERN AND LIQUIDITY CONSIDERATION | |
GOING CONCERN AND LIQUIDITY CONSIDERATION | NOTE 2 – GOING CONCERN AND LIQUIDITY CONSIDERATION Going Concern The accompanying unaudited condensed financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company used cash in operating activities of $2,823 for the six months ended May 31, 2022. The Company had an accumulated deficit of $3,354,233 at May 31, 2022. These factors raise substantial doubt about the ability of the Company to continue as a going concern for a reasonable period of time. The Company’s continuation as a going concern is dependent upon its ability to generate revenues and its ability to continue receiving investment capital and loans from related parties to sustain its current level of operations. The Company is in the process of securing working capital from investors for common stock, convertible notes payable, and/or strategic partnerships. No assurance can be given that the Company will be successful in these efforts. The unaudited condensed financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 6 Months Ended |
May 31, 2022 | |
RELATED PARTY TRANSACTIONS | |
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. During the six months ended May 31, 2022 and 2021, the Company received proceeds of $2,823 and $27,175 from AMJ Global Entertainment LLC, a related party controlled by the Company’s CEO and director. During the six months ended May 31, 2022, the Company’s board of directors approved the issuance of 65,227,000 shares of common stock for settlement of $67,107 due to AMJ Global Entertainment, LLC, a related party controlled by the Company’s CEO and director. The shares were valued at $1,781,176, resulting in a loss of settlement on debt of $ 1,714,069. During the six months ended May 31, 2022, the Company’s board of directors approved the issuance of 10,000,000 shares of common stock as a one-time bonus to the Company’s CEO for services rendered as CEO and director. The Company recognized compensation of $273,074 for the issuance of 10,000,000 shares of common stock At May 31, 2022 and November 30, 2021, the Company owed $2,823 and $67,107 to AMJ Global Entertainment LLC, a related party controlled by the Company’s CEO. The amount is unsecured, non-interest bearing and due on demand. |
COMMON STOCK
COMMON STOCK | 6 Months Ended |
May 31, 2022 | |
COMMON STOCK | |
COMMON STOCK | NOTE 4 – COMMON STOCK Common Stock The Company has authorized common shares of 750,000,000, par value $0.001 per share. Each outstanding share of common stock entitles the holder to one vote per share on all matters submitted to a stockholder vote. All shares of common stock are non-assessable and non-cumulative, with no pre-emptive rights. On January 27, 2022 the Company adopted the Board Resolution and issued 65,227,000 shares of common stock against the amount owed to AMJ Global Entertainment LLC, a related party controlled by the Company’s CEO and director, and 10,000,000 shares of common stock as stock-based compensation to the Company’s CEO and director. (see Note 3) There were 89,623,323 and 14,396,323 shares of common stock issued and outstanding as of May 31, 2022 and November 30, 2021, respectively. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 6 Months Ended |
May 31, 2022 | |
SUBSEQUENT EVENTS | |
SUBSEQUENT EVENTS | NOTE 5 – SUBSEQUENT EVENTS The Company has evaluated events occurring subsequent to the balance sheet date through the date these financial statements were issued and determined there are no additional events requiring disclosure. |
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES (Policies) | 6 Months Ended |
May 31, 2022 | |
BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES | |
Business | Kange Corp. (“Kange,” the “Company,” “we,” “us,” or “our”) was incorporated under the laws of the State of Nevada on August 16, 2013. We are a start-up company developing mobile software products for Apple and Android platforms, starting in Estonia and Europe, which is our initial intended market. Apple is a trademark of Apple Inc., and Android is a trademark of Alphabet Inc. During 2017, we began focusing on the intersection of technology and wholistic technology-based health treatments. We retained an advisor having substantial experience in the technology sector, and two former professional athletes to advise us regarding sports health issues and treatments. We intend to provide services to formulate a treatment model to meet the needs of professional athletes that suffer from PTSD and the early onset of dementia and Alzheimer’s. The Company is currently evaluating operations in the wholistic health industry. |
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, 2021, as filed with the SEC on March 11, 2022. |
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 ($) | May 31, 2022 | Nov. 30, 2021 |
GOING CONCERN AND LIQUIDITY CONSIDERATION | ||
Accumulated deficit | $ (3,354,233) | $ (1,361,587) |
Cash in operating activities | $ 2,823 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | |||
May 31, 2022 | May 31, 2021 | May 31, 2022 | May 31, 2021 | Nov. 30, 2021 | |
Due to related party | $ 2,823 | $ 2,823 | $ 67,107 | ||
Common stock issued | 10,000,000 | 10,000,000 | |||
Compensation | $ 0 | $ 0 | $ 273,074 | $ 0 | |
Common stock issued | 89,623,323 | 89,623,323 | 14,396,323 | ||
Amj Global [Member] | |||||
Common stock issued for services | 10,000,000 | ||||
Common stock issued | 65,227,000 | 65,227,000 | |||
Proceeds from the related party | $ 2,823 | $ 27,175 | |||
Common stock settlement | 67,107 | 67,107 | |||
Common stock value | $ 1,781,176 | $ 1,781,176 | |||
Loss of settlement | $ 1,714,069 | $ 1,714,069 |
COMMON STOCK (Details Narrative
COMMON STOCK (Details Narrative) - $ / shares | 1 Months Ended | ||
Jan. 27, 2022 | May 31, 2022 | Nov. 30, 2021 | |
COMMON STOCK | |||
Common stock, Authorized | 750,000,000 | 750,000,000 | |
Common stock, Par value | $ 0.001 | $ 0.001 | |
Stock based compensation | 10,000,000 | ||
Common Stock, Shares Issued | 65,227,000 | 89,623,323 | 14,396,323 |
Common stock, Shares Outstanding | 89,623,323 | 14,396,323 |