Cover
Cover - shares | 6 Months Ended | |
Jun. 30, 2021 | Aug. 21, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Jun. 30, 2021 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2021 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 333-202234 | |
Entity Registrant Name | ME RENEWABLE POWER CORPORATION | |
Entity Central Index Key | 0001627452 | |
Entity Tax Identification Number | 30-0845224 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | Vista del vaque #13 | |
Entity Address, City or Town | la charcas Santiago | |
Entity Address, Country | DO | |
Entity Address, Postal Zip Code | 10110 | |
City Area Code | 315 | |
Local Phone Number | 701- 1031 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Bankruptcy Proceedings, Reporting Current | true | |
Entity Common Stock, Shares Outstanding | 227,375,000 |
Balance Sheets
Balance Sheets - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Current Assets: | ||
Total Current Assets | ||
TOTAL ASSETS | 0 | 0 |
Current Liabilities: | ||
Accounts Payable | 10,032 | 7,880 |
Accounts Payable - Related Party | 12,320 | 11,320 |
Loan Payable - Related Party | 15,093 | 13,555 |
Shareholder Loan | 42,777 | 42,777 |
Total Current Liabilities | 80,222 | 75,532 |
Total Liabilities | 80,222 | 75,532 |
Stockholder's Deficit | ||
Preferred Stock, par value $0.0001, 10,000,000 shares Authorized, 0 shares Issued and Outstanding at March 31, 2021 and December 31, 2020 | ||
Common Stock, par value $0.0001, 390,000,000 shares Authorized, 227,375,000 shares Issued and Outstanding at June 30, 2021 and December 31, 2020 | 22,738 | 22,738 |
Additional Paid-In Capital | 29,349 | 29,349 |
Accumulated Deficit | (132,309) | (127,619) |
Total Stockholder's Deficit | (80,222) | (75,532) |
TOTAL LIABILITIES AND STOCKHOLDER'S DEFICIT | $ 0 | $ 0 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Jun. 30, 2021 | Dec. 31, 2020 |
Statement of Financial Position [Abstract] | ||
Preferred Stock, par value | $ 0.0001 | $ 0.0001 |
Preferred Stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Common Stock, par value | $ 0.0001 | $ 0.0001 |
Common Stock, shares authorized | 390,000,000 | 390,000,000 |
Common Stock, Shares, Issued | 227,375,000 | 227,375,000 |
Common Stock, Shares, Outstanding | 227,375,000 | 227,375,000 |
Statement of Operations
Statement of Operations - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Income Statement [Abstract] | ||||
Revenues: | ||||
Expenses: | ||||
General and administrative expense | 1,838 | 574 | 2,138 | 2,824 |
Professional fees | 1,253 | 1,696 | 2,552 | 4,812 |
Total Operating Expenses | 3,091 | 2,270 | 4,690 | 7,636 |
Operating Loss | (3,091) | (2,270) | (4,690) | (7,636) |
Net Loss | $ (3,091) | $ (2,270) | $ (4,690) | $ (7,636) |
Basic & Diluted Loss per Common Share | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted Average Common Shares Outstanding | 227,375,000 | 67,375,000 | 227,375,000 | 67,375,000 |
Statement of Stockholders Defic
Statement of Stockholders Deficit - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance At March 31, 2021 at Dec. 31, 2020 | $ 22,738 | $ 29,349 | $ (127,619) | $ (75,532) |
Beginning balance, shares at Dec. 31, 2020 | 227,375,000 | |||
Net Loss | (1,599) | (1,599) | ||
Balance At June 30, 2021 at Mar. 31, 2021 | $ 22,738 | 29,349 | (129,218) | (77,131) |
Shares, Issued, Ending Balance at Mar. 31, 2021 | 227,375,000 | |||
Net Loss | (3,091) | (3,091) | ||
Balance At June 30, 2021 at Jun. 30, 2021 | $ 22,738 | $ 29,349 | $ (132,309) | $ (80,222) |
Shares, Issued, Ending Balance at Jun. 30, 2021 | 227,375,000 |
Statement of Cash Flows
Statement of Cash Flows - USD ($) | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net Loss | $ (4,690) | $ (7,636) |
Changes In: | ||
Accounts Payable | 2,152 | 987 |
Accounts Payable - Related Party | 1,000 | 3,049 |
Net Cash Used in Operating Activities | (1,538) | (3,600) |
CASH FLOWS FROM FINANCING | ||
Loans from Related Party | 1,538 | 3,600 |
Net Cash Provided by Financing Activities | 1,538 | 3,600 |
Cash at Beginning of Period | ||
Cash at End of Period | ||
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||
Cash paid during the year for: Interest | ||
Cash paid during the year for: Franchise Taxes |
Statement of Cash Flows (Parent
Statement of Cash Flows (Parenthetical) | 6 Months Ended |
Jun. 30, 2020shares | |
Statement of Cash Flows [Abstract] | |
Debt Conversion, Converted Instrument, Shares Issued | 60,000,000 |
NOTE 1 _ NATURE OF OPERATIONS
NOTE 1 – NATURE OF OPERATIONS | 6 Months Ended |
Jun. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
NOTE 1 – NATURE OF OPERATIONS | NOTE 1 – NATURE OF OPERATIONS ME Renewable Power Corporation (the "Company") was incorporated in the State of Nevada under the name Jarex Solutions Corp. on October 28, 2014 ("Inception") and originally intended to commence operations in the business of Automatic Number Plate Recognition (“ANPR’) software development for businesses which have parking zones or access control on their sites. Jarex Solutions Corp. intended to develop software based on the ANPR technologies in Latvia. On June 14, 2016, the Company merged with its wholly-owned subsidiary ME Renewable Power Corporation, a Nevada corporation, and changed its name from Jarex Solutions Corp. to ME Renewable Power Corporation. The Company now intends to distribute green energy-saving and reusable equipment and materials. |
NOTE 2 - SUMMARY OF SIGNIFICANT
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Jun. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 2.1 Basis of Presentation The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. The Company has adopted a December 31 fiscal year end. 2.2 Use of Estimates and Assumptions 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 and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. 2.3 Cash and Cash Equivalents The Company considers all highly liquid instruments purchased with a maturity of six months or less to be cash equivalents to the extent the funds are not being held for investment purposes. 2.4 Fair Value of Financial Instruments The Company’s financial instruments consist of cash and loans to shareholders. The carrying amount of financial instruments approximates fair value because of the short-term nature of these items. 2.5 Property and Equipment Property and equipment are stated at cost and depreciated on the straight line method over the estimated life of the asset, which is 3 years. 2.6 Income Taxes The Company follows the asset and liability method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences). The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. 2.7 Basic Income (Loss) Per Share The Company computes loss per share in accordance with “ASC-260”, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted 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. At June 30, 2021, there were no potentially dilutive debt or equity instruments issued or outstanding and any such shares would have been excluded from the computation because they would have been anti-dilutive as the Company incurred losses in this period. 2.8 Commitments and Contingencies The Company follows ASC 440 & ASC 450, subtopic 450-20 of the FASB Accounting Standards Codification to report accounting for contingencies and commitments respectively. Certain conditions may exist as of the date the financial statements are issued, which may result in a loss to the Company, but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or un-asserted claims that may result in such proceedings, the Company evaluates the perceived merits of any legal proceedings or un-asserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein. If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates that a potentially material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. Management does not believe, based upon information available at this time, that these matters will have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows. However, there is no assurance that such matters will not materially and adversely affect the Company’s business, financial position, and results of operations or cash flows. 2.9 Recent Accounting Pronouncements The Company reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company. |
NOTE 3 _ GOING CONCERN
NOTE 3 – GOING CONCERN | 6 Months Ended |
Jun. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
NOTE 3 – GOING CONCERN | NOTE 3 – GOING CONCERN The financial statements have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company has incurred a loss since Inception (October 28, 2014) resulting in an accumulated deficit of $ 132,309 The effects of Covid -19 could impact our ability to operate under the going concern and maintain sufficient liquidity to continue operations. The impact of COVID-19 on companies is evolving rapidly and its future effects are uncertain. There are material uncertainties from Covid-19 that cast significant doubt on the company’s ability to operate under the going concern. It is possible that our company will have issues relating to the current situation that will need to be considered by management in the future. There will be a wide range of factors to take into account in going concern judgments and financial projections including travel bans, restrictions, government assistance and potential sources of replacement financing, financial health of suppliers and customers and their effect on expected profitability and other key financial performance ratios including information that shows whether there will be sufficient liquidity to continue to meet obligations when they are due. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with existing cash on hand and loans from directors and/or private placement of common stock. |
NOTE 4 _ COMMON STOCK
NOTE 4 – COMMON STOCK | 6 Months Ended |
Jun. 30, 2021 | |
Equity [Abstract] | |
NOTE 4 – COMMON STOCK | NOTE 4 – COMMON STOCK On July 1, 2020 the Company Amended the Articles of Incorporation to increase the total authorized shares to 400,000,000 390,000,000 $ 0.0001 10,000,000 $0.0001 There were 227,375,000 |
NOTE 5 _ RELATED PARTY TRANSACT
NOTE 5 – RELATED PARTY TRANSACTIONS | 6 Months Ended |
Jun. 30, 2021 | |
Related Party Transactions [Abstract] | |
NOTE 5 – RELATED PARTY TRANSACTIONS | NOTE 5 – 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 or directors. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances were considered temporary in nature and were not formalized by a promissory note. In 2015 a shareholder of the Company advanced the Company $ 11,074 11,074 During the year ended December 31, 2016, the Company was provided loans of $ 42,777 42,777 On May 21, 2020, $2,049 60,000,000 On May 21, 2020, $3,600 On July 2, 2020, $ 1,864 On July 2, 2020, the total amount of $5,464 160,000,000 During the year ended December 31,2020, Joseph Passlaqua, a Related Party, paid expenses on behalf of the Company in the amount of $5,055 5,055 During the year ended December 31, 2020, Joseph Passalaqua, a Related Party, committed to pay the professional expenses on behalf of the Company in the amount of $8,500 8,500 On May 31, 2021, $ 1,538 For the years 2017 -2020 and the six months ended June 30, 2021, Lyboldt-Daly Inc., whose sole officer is Joseph Passalauqa,a Related Party, provided the internal accounting for the Company. As of June 30, 2021, $ 12,320 The Company currently operates out of an office of a related party free of rent. |
NOTE 6 _ INCOME TAXES
NOTE 6 – INCOME TAXES | 6 Months Ended |
Jun. 30, 2021 | |
Income Tax Disclosure [Abstract] | |
NOTE 6 – INCOME TAXES | NOTE 6 – INCOME TAXES As of June 30, 2021, the Company had net operating loss carry forwards of approximately $132,309 that may be available to reduce future years' taxable income in varying amounts through 2041. Future tax benefits which arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards. |
NOTE 7 - SUBSEQUENT EVENTS
NOTE 7 - SUBSEQUENT EVENTS | 6 Months Ended |
Jun. 30, 2021 | |
Subsequent Events [Abstract] | |
NOTE 7 - SUBSEQUENT EVENTS | NOTE 7 - SUBSEQUENT EVENTS None. |
NOTE 2 - SUMMARY OF SIGNIFICA_2
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 6 Months Ended |
Jun. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
2.1 Basis of Presentation | 2.1 Basis of Presentation The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. The Company has adopted a December 31 fiscal year end. |
2.2 Use of Estimates and Assumptions | 2.2 Use of Estimates and Assumptions 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 and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
2.3 Cash and Cash Equivalents | 2.3 Cash and Cash Equivalents The Company considers all highly liquid instruments purchased with a maturity of six months or less to be cash equivalents to the extent the funds are not being held for investment purposes. |
2.4 Fair Value of Financial Instruments | 2.4 Fair Value of Financial Instruments The Company’s financial instruments consist of cash and loans to shareholders. The carrying amount of financial instruments approximates fair value because of the short-term nature of these items. |
2.5 Property and Equipment | 2.5 Property and Equipment Property and equipment are stated at cost and depreciated on the straight line method over the estimated life of the asset, which is 3 years. |
2.6 Income Taxes | 2.6 Income Taxes The Company follows the asset and liability method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences). The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. |
2.7 Basic Income (Loss) Per Share | 2.7 Basic Income (Loss) Per Share The Company computes loss per share in accordance with “ASC-260”, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted 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. At June 30, 2021, there were no potentially dilutive debt or equity instruments issued or outstanding and any such shares would have been excluded from the computation because they would have been anti-dilutive as the Company incurred losses in this period. |
2.8 Commitments and Contingencies | 2.8 Commitments and Contingencies The Company follows ASC 440 & ASC 450, subtopic 450-20 of the FASB Accounting Standards Codification to report accounting for contingencies and commitments respectively. Certain conditions may exist as of the date the financial statements are issued, which may result in a loss to the Company, but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or un-asserted claims that may result in such proceedings, the Company evaluates the perceived merits of any legal proceedings or un-asserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein. If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates that a potentially material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. Management does not believe, based upon information available at this time, that these matters will have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows. However, there is no assurance that such matters will not materially and adversely affect the Company’s business, financial position, and results of operations or cash flows. |
2.9 Recent Accounting Pronouncements | 2.9 Recent Accounting Pronouncements The Company reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company. |
NOTE 3 _ GOING CONCERN (Details
NOTE 3 – GOING CONCERN (Details Narrative) - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Retained Earnings (Accumulated Deficit) | $ 132,309 | $ 127,619 |
NOTE 4 _ COMMON STOCK (Details
NOTE 4 – COMMON STOCK (Details Narrative) - $ / shares | Jun. 30, 2021 | Dec. 31, 2020 |
Equity [Abstract] | ||
Shares authorized | 400,000,000 | |
Common Stock, shares authorized | 390,000,000 | 390,000,000 |
Common Stock, par value | $ 0.0001 | $ 0.0001 |
Preferred Stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred Stock, par value | $ 0.0001 | $ 0.0001 |
Common Stock, Shares, Issued | 227,375,000 | 227,375,000 |
NOTE 5 _ RELATED PARTY TRANSA_2
NOTE 5 – RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 5 Months Ended | 6 Months Ended | 12 Months Ended | |||||
May 31, 2021 | May 21, 2020 | Jun. 30, 2021 | Jul. 02, 2020 | Jun. 30, 2020 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2020 | |
Related Party Transaction [Line Items] | ||||||||
Proceeds from Related Party Debt | $ 1,538 | $ 3,600 | ||||||
Adjustments to Additional Paid in Capital, Convertible Debt with Conversion Feature | $ 11,074 | |||||||
Other Loans Payable, Current | 42,777 | $ 42,777 | ||||||
Issuance of Shares of Common Stock for Debt Conversion, shares | 60,000,000 | |||||||
Repayment of loan | $ 1,538 | $ 3,600 | $ 1,864 | |||||
Loan - Related Party | 15,093 | 13,555 | ||||||
Due to Related Parties, Current | 12,320 | 11,320 | ||||||
Majority Shareholder [Member] | ||||||||
Related Party Transaction [Line Items] | ||||||||
Proceeds from Related Party Debt | $ 42,777 | $ 11,074 | ||||||
Related Party 1 [Member] | ||||||||
Related Party Transaction [Line Items] | ||||||||
Issuance of Shares of Common Stock for Debt Conversion, amount | $ 2,049 | $ 5,464 | ||||||
Issuance of Shares of Common Stock for Debt Conversion, shares | 60,000,000 | 160,000,000 | ||||||
Related Party [Member] | ||||||||
Related Party Transaction [Line Items] | ||||||||
Loan - Related Party | 5,055 | 5,055 | ||||||
Related Party 2 [Member] | ||||||||
Related Party Transaction [Line Items] | ||||||||
Loan - Related Party | $ 8,500 | $ 8,500 |