Document and Entity Information
Document and Entity Information | 7 Months Ended |
Jul. 31, 2020$ / sharesshares | |
Details | |
Registrant CIK | 0001625285 |
Fiscal Year End | --12-31 |
Registrant Name | Arma Services Inc. |
SEC Form | 10-Q |
Period End date | Jul. 31, 2020 |
Tax Identification Number (TIN) | 32-0449388 |
Number of common stock shares outstanding | shares | 6,240,000 |
Filer Category | Non-accelerated Filer |
Current with reporting | Yes |
Interactive Data Current | Yes |
Shell Company | false |
Small Business | true |
Emerging Growth Company | true |
Ex Transition Period | false |
Document Transition Report | false |
Entity File Number | 333-229638 |
Entity Incorporation, State or Country Code | NV |
Entity Address, Address Line One | suite 140-928 |
Entity Address, City or Town | Las Vegas |
Entity Address, Country | AF |
Entity Address, Postal Zip Code | 89130 |
Country Region | 1 |
City Area Code | 702 |
Local Phone Number | 6599321 |
Entity Address, Address Description | Address and telephone number of principal executive offices |
Phone Fax Number Description | Address and telephone number of principal executive offices |
Entity Listing, Par Value Per Share | $ / shares | $ 0.001 |
Amendment Flag | false |
Document Fiscal Year Focus | 2020 |
Document Fiscal Period Focus | Q2 |
Document Quarterly Report | true |
BALANCE SHEET
BALANCE SHEET - USD ($) | Jul. 31, 2020 | Dec. 31, 2019 |
ASSETS | ||
Related Party Bank Account | $ 0 | $ 32 |
Escrow account | 0 | 0 |
Total current assets | 0 | 0 |
Developed website, net | 0 | 0 |
Total Assets | 0 | 32 |
LIABILITIES | ||
Accounts Payable | 13,575 | 12,000 |
Bank overdraft | 7 | 0 |
Director loan | 10,012 | 9,893 |
Accrued Expenses | 0 | 0 |
Total current liabilities | 23,594 | 21,893 |
Common Stock, Value | 6,240 | 6,240 |
Additional paid-in-capital | 20,160 | 20,160 |
Accumulated deficit | (49,994) | (48,261) |
Total Stockholders' Equity | (23,594) | (21,861) |
Total Liabilities and Stockholders' Equity | $ 0 | $ 32 |
BALANCE SHEET - Parenthetical
BALANCE SHEET - Parenthetical - $ / shares | Jul. 31, 2020 | Dec. 31, 2019 |
Details | ||
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 75,000,000 | 75,000,000 |
Common Stock, Shares, Issued | 6,240,000 | |
Common Stock, Shares, Outstanding | 6,240,000 |
Condensed Statements of Operati
Condensed Statements of Operations - USD ($) | 3 Months Ended | 7 Months Ended | ||
Jul. 31, 2020 | Jun. 30, 2019 | Jul. 31, 2020 | Jul. 31, 2019 | |
Details | ||||
Revenue | $ 0 | $ 0 | $ 0 | $ 0 |
General and administrative expenses | 88 | 4,642 | 130 | 5,672 |
Net income (loss) from operations | (88) | (4,642) | (130) | (5,672) |
Income (Loss) before taxes | (88) | (4,642) | (130) | (5,672) |
Net income (loss) | $ (88) | $ (4,642) | $ (130) | $ (5,672) |
Loss per common share:, Basic and Diluted | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted Average Number of Common Shares Outstanding: Basic and Diluted | 6,240,000 | 6,240,000 | 6,.24,000,000,000,24e,+24 | 6,240,000 |
Statement of Cash Flows
Statement of Cash Flows - USD ($) | 7 Months Ended | |
Jul. 31, 2020 | Jul. 31, 2019 | |
Operating Activities | ||
Net income (loss) | $ (1,733) | $ (5,767) |
Accrued Expenses | 0 | 0 |
Accounts Payable - Related party as per consulting agreement | 1,575 | 2,000 |
bank overdraft | 7 | 0 |
Net cash provided operating activities | (151) | (3,767) |
Financing Activities | ||
Director loan | 119 | 3,700 |
Capital Stock | 0 | 0 |
Net cash provided by financing activities | 119 | 3,700 |
Net increase in cash and equivalents | (32) | 28 |
Cash and Cash Equivalents, at Carrying Value, Beginning Balance | 32 | 0 |
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 0 | $ 15 |
NOTE 1 - ORGANIZATION AND BASIS
NOTE 1 - ORGANIZATION AND BASIS OF PRESENTATION | 7 Months Ended |
Jul. 31, 2020 | |
Notes | |
NOTE 1 - ORGANIZATION AND BASIS OF PRESENTATION | NOTE 1 ORGANIZATION AND BASIS OF PRESENTATION Arma Services Inc. (referred as the Company, we, our) was incorporated in the State of Nevada and established on September 2, 2014 . Arma Services Inc. (the Company, we, us or our) was incorporated under the laws of the State of Nevada on September 2, 2014. Arma Services Inc. is a Destination Management Company (DMC), which aims to provide a full range of services in the field of Meeting, Incentive, Conference, and Exhibition (MICE) tourism in Russia for corporate customers from United States, China and internal Russian clients. We plan to create a variety of events for domestic and foreign companies, including; industry conferences and business meetings, dealer conferences for producers, motivational and incentive arrangements for key employees, and to organize participation in exhibitions and forums. |
NOTE 2 - GOING CONCERN
NOTE 2 - GOING CONCERN | 7 Months Ended |
Jul. 31, 2020 | |
Notes | |
NOTE 2 - GOING CONCERN | NOTE 2 GOING CONCERN Basis of Presentation The accompanying unaudited interim financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial information, and with the rules and regulations of the United States Securities and Exchange Commission set forth in Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The unaudited interim financial statements furnished reflect all adjustments (consisting of normal recurring accruals) which are, in the opinion of management, necessary to a fair statement of the results for the interim periods presented. Unaudited interim results are not necessarily indicative of the results for the full fiscal year. These financial statements should be read in conjunction with the audited financial statements in the Company's Form 10-K for the year ended October 31, 2019 filed on January 21, 2021 and Management's Discussion and Analysis of Financial Condition and Results of Operations. Use of Estimates in the Preparation of Financial Statements 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, 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. Actual results could differ from those estimates. Revenue Recognition The purpose of our business is to provide a full range of services in the field of Meeting, Incentive, Conference, and Exhibition (MICE) tourism in Russia for corporate customers from the United States, China and internal Russian clients. Services are provided through industry conferences and business meetings, dealer conferences for producers, motivational and incentive arrangements for key employees, and to organize participation in exhibitions and forums. The Company will recognize revenue in accordance with ASC topic 606 Revenue from Contracts with Customers. The core principle of ASC 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. An entity recognizes revenue in accordance with that core principle by applying the following steps: Step 1: Identify the contract(s) with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. Specifically, Section 606-10-50 requires an entity to provide information about: a. Revenue recognized from contracts with customers, including the disaggregation of revenue into appropriate categories; b. Contract balances, including the opening and closing balances of receivables, contract assets, and contract liabilities; c. Performance obligations, including when the entity typically satisfies its performance obligations and the transaction price that is allocated to the remaining performance obligations in a contract; d. Significant judgments, and changes in judgments, made in applying the requirements to those contracts. Commitments and Contingencies Liabilities for loss contingencies arising from claims, assessments, litigation, fines and penalties, and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated. Net Loss per Common Share Net loss per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted average number of shares of common stock and potentially outstanding shares of common stock during each period. There were no potentially dilutive shares outstanding as of July 31, 2020 or 2019. As the Company has incurred losses for all periods, the impact of the common stock equivalents would be antidilutive, and therefore, are not included in the calculation. Recent Accounting Pronouncements The Company does not anticipate any recently released accounting standards pronouncements to have a significant impact on reported financial position or results of operations in these or future financial statements. |
NOTE 3 - SUMMARY OF SIGNIFCANT
NOTE 3 - SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES | 7 Months Ended |
Jul. 31, 2020 | |
Notes | |
NOTE 3 - SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES | NOTE 3 SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES Basis of Presentation The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America. The Companys year-end is October 31. The accompanying financial statements have been prepared in conformity with generally accepted accounting principles, which contemplate continuation of the Company as a going concern. However, the Company had no revenue during the three and nine months ended July 31, 2020 and has an accumulated deficit $49,994. The Company currently has no working capital, and has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time. These factors raise substantial doubt about the ability of the Company to continue as a going concern. These financial statements do not include any adjustments related to the recovery or classification of assets or the amounts and classifications of liabilities that might be necessary should the company be unable to continue as a going concern. Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses. The Company intends to position itself so that it may be able to raise additional funds through the capital markets. In light of managements efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern Development Stage Company The Company is a development stage company as defined in ASC 915 Development Stage Entities.. The Company is devoting substantially all of its efforts on establishing the business and its planned principal operations have not commenced. All losses accumulated since inception have been considered as part of the Company's development stage activities. The Company has elected to adopt application of Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. Upon adoption, the Company no longer presents or discloses inception-to-date information and other remaining disclosure requirements of Topic 915. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles 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 the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. Fair Value of Financial Instruments AS topic 820 "Fair Value Measurements and Disclosures" establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market. These tiers include: Level 1: defined as observable inputs such as quoted prices in active markets; Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The carrying value of cash and the Companys loan from shareholder approximates its fair value due to their short-term maturity. Income Taxes Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. Basic Income (Loss) Per Share The Company computes income (loss) per share in accordance with FASB ASC 260 Earnings per Share. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. As of July 31, 2020, there were no potentially dilutive debt or equity instruments issued or outstanding. Stock-Based Compensation Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options. Note 4-Relate party loans In support of the Companys 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 considered temporary in nature and have not been formalized by a promissory note. As of July 31, 2020, the Company had a loan outstanding with the Companys sole director, Mr. Sergey Gandin in the amount of $10,012 compared to $9,893 as of October 31, 2019. The loan is non-interest bearing, due upon demand, and unsecured |
Note 5 - COMMON STOCK
Note 5 - COMMON STOCK | 7 Months Ended |
Jul. 31, 2020 | |
Notes | |
Note 5 - COMMON STOCK | Note 5 COMMON STOCK The Company has 75,000,000, $0.001 par value shares of common stock authorized. As of July 31, 2020, the Company had 6,240,000 shares issued and outstanding. |
Note 6 - COMMITMENTS AND CONTIN
Note 6 - COMMITMENTS AND CONTINGENCIES | 7 Months Ended |
Jul. 31, 2020 | |
Notes | |
Note 6 - COMMITMENTS AND CONTINGENCIES | Note 6 COMMITMENTS AND CONTINGENCIES The Company neither owns nor leases any real or personal property. An officer has provided office services without charge. There is no obligation for the officer to continue this arrangement. Such costs are immaterial to the financial statements and accordingly are not reflected herein. The officer and director are involved in other business activities and most likely will become involved in other business activities in the future. |
Note 7 - SUBSEQUENT EVENTS
Note 7 - SUBSEQUENT EVENTS | 7 Months Ended |
Jul. 31, 2020 | |
Notes | |
Note 7 - SUBSEQUENT EVENTS | Note 7 SUBSEQUENT EVENTS In accordance with ASC 855, the Company has analyzed its operations subsequent to July 31, 2020 to the date these financial statements were issued and concluded there are no material subsequent events to disclose in these financial statements. In December 2019, a novel strain of coronavirus (COVID-19) emerged in Wuhan, Hubei Province, China. While initially the outbreak was largely concentrated in China and caused significant disruptions to its economy, it has now spread to several other countries and infections have been reported globally. Director and management stay informed about COVID-19 developments generally and ensure it has access to information related to a companys response to the crisis and how the specific impact on the company is developing as the crisis extends |
NOTE 3 - SUMMARY OF SIGNIFCAN_2
NOTE 3 - SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES: Basis of Presentation (Policies) | 7 Months Ended |
Jul. 31, 2020 | |
Policies | |
Basis of Presentation | Basis of Presentation The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America. The Companys year-end is October 31. The accompanying financial statements have been prepared in conformity with generally accepted accounting principles, which contemplate continuation of the Company as a going concern. However, the Company had no revenue during the three and nine months ended July 31, 2020 and has an accumulated deficit $49,994. The Company currently has no working capital, and has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time. These factors raise substantial doubt about the ability of the Company to continue as a going concern. These financial statements do not include any adjustments related to the recovery or classification of assets or the amounts and classifications of liabilities that might be necessary should the company be unable to continue as a going concern. Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses. The Company intends to position itself so that it may be able to raise additional funds through the capital markets. In light of managements efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern |
NOTE 3 - SUMMARY OF SIGNIFCAN_3
NOTE 3 - SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES: Development Stage Company (Policies) | 7 Months Ended |
Jul. 31, 2020 | |
Policies | |
Development Stage Company | Development Stage Company The Company is a development stage company as defined in ASC 915 Development Stage Entities.. The Company is devoting substantially all of its efforts on establishing the business and its planned principal operations have not commenced. All losses accumulated since inception have been considered as part of the Company's development stage activities. The Company has elected to adopt application of Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. Upon adoption, the Company no longer presents or discloses inception-to-date information and other remaining disclosure requirements of Topic 915. |
NOTE 3 - SUMMARY OF SIGNIFCAN_4
NOTE 3 - SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES: Use of Estimates (Policies) | 7 Months Ended |
Jul. 31, 2020 | |
Policies | |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles 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 the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
NOTE 3 - SUMMARY OF SIGNIFCAN_5
NOTE 3 - SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES: Fair Value of Financial Instruments (Policies) | 7 Months Ended |
Jul. 31, 2020 | |
Policies | |
Fair Value of Financial Instruments | Fair Value of Financial Instruments AS topic 820 "Fair Value Measurements and Disclosures" establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market. These tiers include: Level 1: defined as observable inputs such as quoted prices in active markets; Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The carrying value of cash and the Companys loan from shareholder approximates its fair value due to their short-term maturity. |
NOTE 3 - SUMMARY OF SIGNIFCAN_6
NOTE 3 - SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES: Income Taxes (Policies) | 7 Months Ended |
Jul. 31, 2020 | |
Policies | |
Income Taxes | Income Taxes Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. |
NOTE 3 - SUMMARY OF SIGNIFCAN_7
NOTE 3 - SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES: Basic Income (Loss) Per Share (Policies) | 7 Months Ended |
Jul. 31, 2020 | |
Policies | |
Basic Income (Loss) Per Share | Basic Income (Loss) Per Share The Company computes income (loss) per share in accordance with FASB ASC 260 Earnings per Share. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. As of July 31, 2020, there were no potentially dilutive debt or equity instruments issued or outstanding. |
NOTE 3 - SUMMARY OF SIGNIFCAN_8
NOTE 3 - SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES: Stock-Based Compensation (Policies) | 7 Months Ended |
Jul. 31, 2020 | |
Policies | |
Stock-Based Compensation | Stock-Based Compensation Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options. |
NOTE 3 - SUMMARY OF SIGNIFCAN_9
NOTE 3 - SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES: Note 4-Relate party loans (Policies) | 7 Months Ended |
Jul. 31, 2020 | |
Policies | |
Note 4-Relate party loans | Note 4-Relate party loans In support of the Companys 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 considered temporary in nature and have not been formalized by a promissory note. As of July 31, 2020, the Company had a loan outstanding with the Companys sole director, Mr. Sergey Gandin in the amount of $10,012 compared to $9,893 as of October 31, 2019. The loan is non-interest bearing, due upon demand, and unsecured |
NOTE 1 - ORGANIZATION AND BAS_2
NOTE 1 - ORGANIZATION AND BASIS OF PRESENTATION (Details) | 7 Months Ended |
Jul. 31, 2020 | |
Details | |
Entity Incorporation, State or Country Code | NV |
Entity Incorporation, Date of Incorporation | Sep. 2, 2014 |
NOTE 3 - SUMMARY OF SIGNIFCA_10
NOTE 3 - SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES: Basic Income (Loss) Per Share (Details) | 7 Months Ended |
Jul. 31, 2020USD ($) | |
Details | |
Dilutive Securities, Effect on Basic Earnings Per Share | $ 0 |