Cover
Cover - shares | 6 Months Ended | |
Jun. 30, 2022 | Aug. 09, 2022 | |
Cover [Abstract] | ||
Entity Registrant Name | DESEO SWIMWEAR INC. | |
Entity Central Index Key | 0001670196 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Entity Small Business | true | |
Entity Shell Company | true | |
Entity Emerging Growth Company | false | |
Entity Current Reporting Status | No | |
Document Period End Date | Jun. 30, 2022 | |
Entity Filer Category | Non-accelerated Filer | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2022 | |
Entity Common Stock Shares Outstanding | 64,242,500 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity File Number | 333-210419 | |
Entity Incorporation State Country Code | NV | |
Entity Tax Identification Number | 47-3812711 | |
Entity Address Address Line 1 | 1653 Chatsworth Blvd | |
Entity Address City Or Town | San Diego | |
Entity Address State Or Province | CA | |
Entity Address Postal Zip Code | 92107 | |
City Area Code | 1-800 | |
Local Phone Number | 390-3013 | |
Security 12b Title | Common | |
Trading Symbol | DSWR | |
Entity Interactive Data Current | No |
BALANCE SHEETS
BALANCE SHEETS - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Current Assets | ||
Cash | $ 0 | $ 0 |
Total Assets | 0 | 0 |
Current Liabilities | ||
Accounts Payable | 32,034 | 24,312 |
Due To Related Party | 165,083 | 139,864 |
Total Liabilities | 197,117 | 164,176 |
Stockholders' Deficit | ||
Preferred Stock, $0.001 Par Value, 1,000,000 Shares Authorized None Issued And Outstanding | 0 | 0 |
Common Stock, $0.001 Par Value, 200,000,000 Shares Authorized, 64,242,500 Shares Issued And Outstanding | 64,242 | 64,242 |
Additional Paid-in Capital (deficiency) | (45,887) | (45,887) |
Accumulated Deficit | (215,472) | (182,531) |
Total Stockholders' Deficit | (197,117) | (164,176) |
Total Liabilities And Stockholders' Deficit | $ 0 | $ 0 |
BALANCE SHEETS (Parenthetical)
BALANCE SHEETS (Parenthetical) - $ / shares | Jun. 30, 2022 | Dec. 31, 2021 |
BALANCE SHEETS | ||
Preferred Stock, Shares Par Value | $ 0.001 | $ 0.001 |
Preferred Stock, Shares Authorized | 1,000,000 | 1,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Common Stock, Shares Par Value | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 200,000,000 | 200,000,000 |
Common Stock, Shares Issued | 64,242,500 | 64,242,500 |
Common Stock, Shares Outstanding | 64,242,500 | 64,242,500 |
STATEMENTS OF OPERATIONS (Unaud
STATEMENTS OF OPERATIONS (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
STATEMENTS OF OPERATIONS (Unaudited) | ||||
General and administrative | $ 11,585 | $ 5,495 | $ 32,941 | $ 15,546 |
TOTAL OPERATING EXPENSES | (11,585) | (5,495) | (32,941) | (15,546) |
NET LOSS | $ (11,585) | $ (5,495) | $ (32,941) | $ (15,546) |
BASIC AND DILUTED LOSS PER COMMON SHARE | $ 0 | $ 0 | $ 0 | $ 0 |
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC AND DILUTED | 64,242,500 | 64,242,500 | 64,242,500 | 64,242,500 |
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 Dec. 31, 2020 | 64,242,500 | |||
Balance, amount at Dec. 31, 2020 | $ (136,971) | $ 64,242 | $ (45,887) | $ (155,326) |
Net loss | (10,051) | $ 0 | 0 | (10,051) |
Balance, shares at Mar. 31, 2021 | 64,242,500 | |||
Balance, amount at Mar. 31, 2021 | (147,022) | $ 64,242 | (45,887) | (165,377) |
Balance, shares at Dec. 31, 2020 | 64,242,500 | |||
Balance, amount at Dec. 31, 2020 | (136,971) | $ 64,242 | (45,887) | (155,326) |
Net loss | (15,546) | |||
Balance, shares at Jun. 30, 2021 | 64,242,500 | |||
Balance, amount at Jun. 30, 2021 | (152,517) | $ 64,242 | (45,887) | (170,872) |
Balance, shares at Mar. 31, 2021 | 64,242,500 | |||
Balance, amount at Mar. 31, 2021 | (147,022) | $ 64,242 | (45,887) | (165,377) |
Net loss | (5,495) | $ 0 | 0 | (5,495) |
Balance, shares at Jun. 30, 2021 | 64,242,500 | |||
Balance, amount at Jun. 30, 2021 | (152,517) | $ 64,242 | (45,887) | (170,872) |
Balance, shares at Dec. 31, 2021 | 64,242,500 | |||
Balance, amount at Dec. 31, 2021 | (164,176) | $ 64,242 | (45,887) | (182,531) |
Net loss | (21,356) | $ 0 | 0 | (21,356) |
Balance, shares at Mar. 31, 2022 | 64,242,500 | |||
Balance, amount at Mar. 31, 2022 | (185,532) | $ 64,242 | (45,887) | (203,887) |
Balance, shares at Dec. 31, 2021 | 64,242,500 | |||
Balance, amount at Dec. 31, 2021 | (164,176) | $ 64,242 | (45,887) | (182,531) |
Net loss | (32,941) | |||
Balance, shares at Jun. 30, 2022 | 64,242,500 | |||
Balance, amount at Jun. 30, 2022 | (197,117) | $ 64,242 | (45,887) | (215,472) |
Balance, shares at Mar. 31, 2022 | 64,242,500 | |||
Balance, amount at Mar. 31, 2022 | (185,532) | $ 64,242 | (45,887) | (203,887) |
Net loss | (11,585) | (11,585) | ||
Balance, shares at Jun. 30, 2022 | 64,242,500 | |||
Balance, amount at Jun. 30, 2022 | $ (197,117) | $ 64,242 | $ (45,887) | $ (215,472) |
STATEMENTS OF CASH FLOWS (Unaud
STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Cash Flows From Operating Activities | ||
Net Loss | $ (32,941) | $ (15,545) |
Changes In Operating Assets And Liabilities: | ||
Accounts Payable | 7,722 | (12,329) |
Net Cash Used In Operating Activities | (25,219) | (27,874) |
Cash Flows From Financing Activities | ||
Advances From Related Party | 25,219 | 26,263 |
Net Cash Provided By Financing Activities | 25,219 | 26,263 |
Net Change In Cash | 0 | (1,611) |
CASH, BEGGINING OF PERIOD | 0 | 1,611 |
CASH, END OF PERIOD | $ 0 | $ 0 |
NATURE OF OPERATIONS AND SUMMAR
NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Jun. 30, 2022 | |
NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Nature Of Operations And Summary Of Significant Accounting Policies | NOTE 1 – NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The Company Deseo Swimwear Inc. (the “Company”) was incorporated in the State of Nevada on April 20, 2015 and established a fiscal year end of December 31. The Company is organized to design, manufacture and sell Dominican Republic inspired swimwear. As of September 16, 2021, Suzanne Cope resigned as the Corporations director, President; concurrent with Suzanne Cope’s resignation as director, President, Secretary and Treasurer. Concurrent with Ms. Cope’s resignation, the Corporation appointed Michael Rosen, as President, Secretary and Treasurer and as a member of the Board of Directors of the Corporation. Basis of Presentation – Unaudited Financial Statements The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles for financial information and with the instructions to Form 10-Q. They do not include all information and footnotes required by United States generally accepted accounting principles for complete financial statements. However, except as disclosed herein, there has been no material changes in the information disclosed in the notes to the financial statements for the fiscal year ended December 31, 2021 included in the Company’s 10-K filed with the Securities and Exchange Commission. The unaudited financial statements should be read in conjunction with those financial statements included in the Form 10-K. In the opinion of Management, all adjustments considered necessary for a fair presentation, consisting solely of normal recurring adjustments, have been made. Operating results for the six months ended June 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. Risks and Uncertainties The pandemic caused by an outbreak of a new strain of coronavirus (“COVID-19”) has resulted, and is likely to continue to result, in significant national and global economic disruption and may adversely affect our business. Based on the Company’s current assessment, the Company does not expect some material impact on its long-term operation due to the worldwide spread of the COVID-19 virus. However, the Company is actively monitoring this situation and the possible effects on its financial condition, operations, suppliers, industry, and workforce. Use of Estimates and Assumptions Preparation of the financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain 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 period. Accordingly, actual results could differ from those estimates. Cash and Cash Equivalents For purposes of the statement of cash flows, the Company considers highly liquid financial instruments purchased with a maturity of three months or less to be cash equivalents. Earnings (Loss) per Common Share The basic earnings (loss) per common share is calculated by dividing the Company’s net income (loss) available to common shareholders by the weighted average number of common shares during the period. The diluted earnings (loss) per share is calculated by dividing the Company’s net income (loss) available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. Diluted earnings (loss) per share are the same as basic earnings (loss) per share due to the lack of dilutive items in the Company. As of June 30, 2022, there were no common stock equivalents outstanding. Income Taxes The Company follows the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax balances and tax loss carryforwards. Deferred tax assets and liabilities are measured using enacted or substantially enacted tax rates expected to apply to the taxable income in the years in which those differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the date of enactment or substantive enactment. Recent Accounting Standards The Company does not expect the adoption of any recent accounting standards to have a material impact on its financial statements. Subsequent Events On July 15, 2022, Deseo entered into a contribution agreement (the “Contribution Agreement”) with Cody Development Corp,, a Louisiana corporation (“Cody”) and its sole shareholder Steven Ricks. Under the terms of the Contribution Agreement, subject to the satisfaction of the conditions to closing set forth therein, Mr. Ricks agreed to contribute to Deseo 100% of the capital stock of Cody to Deseo. Based in Louisiana, Cody is engaged in the construction business and is a subcontractor on a number of significant private and government construction projects. In a related development, Ricks Investment entered into a stock purchase agreement, dated as of 15, 2022, with Michael Rosen, the principal stockholder and chief executive officer of Deseo (the “Rosen Purchase Agreement”). Under the terms of the Rosen Purchase Agreement, and subject to the satisfaction of the conditions to closing set forth therein, Mr. Rosen agreed to sell to Rick Investment agreed, all 38,500,000 shares of Deseo common stock owned by Mr. Rosen for a total purchase price of $202,493 payable in the form of a twelve (12) month $202,493 installment note issued by Ricks Investment (the “Note”). No payments will be required for the first 30 days after closing and then the Note is payable in installments of $20,000 per month, commencing September 30, 2022, for 10 months and $2,493 as a final payment at the end of the 12th month following the closing. The Note is secured by a pledge of the 38,500,000 shares and as monthly installment payments are made on the Note, a pro-rata percentage of the shares are subject to release from the pledge. Deseo is currently indebted to Jon Darmstadter (“Darmstadter”) for loans made in the amount of $127,304. On June 23, 2022, Ricks Investments paid $75,000 on behalf of Deseo in partial payment of the debt and agreed to pay the $52,304 balance on the closing of the transactions with Cody and its affiliate. At closing of the above transactions, Deseo (to be renamed Cody Development Holdings, Inc.) will enter into a consulting agreement with Darmstadter, effective as of September 1, 2022, under which the consultant shall serve as a business development advisor and report to Mr. Ricks, as the new Chief Executive Officer. The agreement expires August 31, 2025; provided, that if (a) the consolidated net revenues of Deseo over the three-year term of the agreement equals or exceeds $15,000,000, and (b) the consolidated net revenues in the third anniversary year of the term ending August 31, 2025 equal or exceed consolidated net revenues in the second anniversary year of the Term ending August 31, 2024, the term of the agreement shall be extended to August 31, 2026; and provided further if consolidated net revenues in the anniversary year ending August 31, 2026 equal or exceed $15,000,000, then and in such event the term of this Agreement shall be extended to as late as August 31, 2027. In consideration for his services, Mr. Darmstadter shall receive an annual consulting fee equal to 2% of the consolidated net revenues of Deseo and its Cody subsidiary. Payable in cash on a monthly basis; provided that if mutually agreed upon such consulting fee may be paid in shares of Deseo common stock, valued at 100% of the closing price as traded on any national securities exchange or trading market at the time of issuance. Closing of the transaction contemplated by the above agreements are subject to a number of conditions, including completion of the audited financial statements of Cody for the two years ended December 31, 2021 and unaudited interim financial statements for the two years six month periods ended June 30, 2022, as well as the preparation and filing with the SEC of a “jumbo” Form 8-K containing a full description of the business and management of Deseo and Cody and a description of the new board of directors of Deseo and its Cody subsidiary. |
GOING CONCERN
GOING CONCERN | 6 Months Ended |
Jun. 30, 2022 | |
GOING CONCERN | |
Going Concern | NOTE 2 – GOING CONCERN To date the Company has generated no revenues from its business operations and has incurred operating losses since inception. As at June 30, 2022, the Company has a working capital deficit of $197,117 and has reported an accumulated deficit of $215,472. The Company requires additional funding to meet its ongoing obligations and to fund anticipated operating losses. The ability of the Company to continue as a going concern is dependent on raising capital to fund its initial business plan and ultimately to attain profitable operations. Accordingly, these factors raise substantial doubt as to the Company’s ability to continue as a going concern for a period of 12 months from the issue date of these financials. The Company intends to continue to fund its business by way of private placements and advances from related parties as may be required. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might result from this uncertainty. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 6 Months Ended |
Jun. 30, 2022 | |
RELATED PARTY TRANSACTIONS | |
Related Party Transactions | NOTE 3 – RELATED PARTY TRANSACTIONS During the six months ended June 30, 2022, a Company shareholder paid $25,219 of expenses on behalf of the Company.. The total amount owing to the Company’s current CEO and to a Company shareholder as of June 30, 2022 was $12,560 and $152,523 respectively. The balances due are unsecured and non-interest-bearing with no set terms of repayment. During the period ending December 31, 2021 the former CEO sold/assigned their shareholder loan of $127,304 to a separate shareholder of the Company. The balance due is unsecured and non-interest bearing with no set terms of repayment. |
EQUITY
EQUITY | 6 Months Ended |
Jun. 30, 2022 | |
EQUITY | |
Equity | NOTE 4 – EQUITY The Company has 1,000,000 preferred shares authorized with a par value of $0.001. The Company has 200,000,000 common shares authorized with a par value of $0.001 per share. On October 23, 2021, a Special Meeting of the Shareholders of the Company and the Board of Directors approved an Amendment to its Articles of Incorporation to authorize 1,000,000 shares of preferred stock, par value $0.001 per share. No shares have been issued to date. Preferred Shares Designation. The designation of preferred stock shall be Series A Super Voting Preferred Stock, $0.001 par value per share (the “Series A Super Voting Preferred Stock”); Number of Shares. The number of shares of Series A Super Voting Preferred Stock authorized shall be ten thousand (10,000) shares. Each share of Series A Super Voting Preferred Stock shall have a stated value equal to $0.001 (as may be adjusted for any stock dividends, combinations or splits with respect to such shares) (the “Series A Stated Value”); Dividends. Initially, there will be no dividends due or payable on the Series A Super Voting Preferred Stock. Any future terms with respect to dividends shall be determined by the Board consistent with the Corporation’s Certificate of Incorporation. Any and all such future terms concerning dividends shall be reflected in an amendment to this Certificate, which the Board shall promptly file or cause to be filed. On March 13, 2021, the Company filed a Certificate of Amendment to its Articles of Incorporation (the “Certificate of Amendment”) with the Secretary of State of the State of Nevada increasing the authorized shares of common stock, par value $0.001, to 200,000,000. |
NATURE OF OPERATIONS AND SUMM_2
NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 6 Months Ended |
Jun. 30, 2022 | |
NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
The Company | Deseo Swimwear Inc. (the “Company”) was incorporated in the State of Nevada on April 20, 2015 and established a fiscal year end of December 31. The Company is organized to design, manufacture and sell Dominican Republic inspired swimwear. As of September 16, 2021, Suzanne Cope resigned as the Corporations director, President; concurrent with Suzanne Cope’s resignation as director, President, Secretary and Treasurer. Concurrent with Ms. Cope’s resignation, the Corporation appointed Michael Rosen, as President, Secretary and Treasurer and as a member of the Board of Directors of the Corporation. |
Basis Of Presentation - Unaudited Financial Statements | The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles for financial information and with the instructions to Form 10-Q. They do not include all information and footnotes required by United States generally accepted accounting principles for complete financial statements. However, except as disclosed herein, there has been no material changes in the information disclosed in the notes to the financial statements for the fiscal year ended December 31, 2021 included in the Company’s 10-K filed with the Securities and Exchange Commission. The unaudited financial statements should be read in conjunction with those financial statements included in the Form 10-K. In the opinion of Management, all adjustments considered necessary for a fair presentation, consisting solely of normal recurring adjustments, have been made. Operating results for the six months ended June 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. |
Risks And Uncertainties | The pandemic caused by an outbreak of a new strain of coronavirus (“COVID-19”) has resulted, and is likely to continue to result, in significant national and global economic disruption and may adversely affect our business. Based on the Company’s current assessment, the Company does not expect some material impact on its long-term operation due to the worldwide spread of the COVID-19 virus. However, the Company is actively monitoring this situation and the possible effects on its financial condition, operations, suppliers, industry, and workforce. |
Use Of Estimates And Assumptions | Preparation of the financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain 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 period. Accordingly, actual results could differ from those estimates. |
Cash And Cash Equivalents | For purposes of the statement of cash flows, the Company considers highly liquid financial instruments purchased with a maturity of three months or less to be cash equivalents. |
Earnings (loss) Per Common Share | The basic earnings (loss) per common share is calculated by dividing the Company’s net income (loss) available to common shareholders by the weighted average number of common shares during the period. The diluted earnings (loss) per share is calculated by dividing the Company’s net income (loss) available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. Diluted earnings (loss) per share are the same as basic earnings (loss) per share due to the lack of dilutive items in the Company. As of June 30, 2022, there were no common stock equivalents outstanding. |
Income Taxes | The Company follows the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax balances and tax loss carryforwards. Deferred tax assets and liabilities are measured using enacted or substantially enacted tax rates expected to apply to the taxable income in the years in which those differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the date of enactment or substantive enactment. |
Recent Accounting Standards | The Company does not expect the adoption of any recent accounting standards to have a material impact on its financial statements. |
Subsequent Events | On July 15, 2022, Deseo entered into a contribution agreement (the “Contribution Agreement”) with Cody Development Corp,, a Louisiana corporation (“Cody”) and its sole shareholder Steven Ricks. Under the terms of the Contribution Agreement, subject to the satisfaction of the conditions to closing set forth therein, Mr. Ricks agreed to contribute to Deseo 100% of the capital stock of Cody to Deseo. Based in Louisiana, Cody is engaged in the construction business and is a subcontractor on a number of significant private and government construction projects. In a related development, Ricks Investment entered into a stock purchase agreement, dated as of 15, 2022, with Michael Rosen, the principal stockholder and chief executive officer of Deseo (the “Rosen Purchase Agreement”). Under the terms of the Rosen Purchase Agreement, and subject to the satisfaction of the conditions to closing set forth therein, Mr. Rosen agreed to sell to Rick Investment agreed, all 38,500,000 shares of Deseo common stock owned by Mr. Rosen for a total purchase price of $202,493 payable in the form of a twelve (12) month $202,493 installment note issued by Ricks Investment (the “Note”). No payments will be required for the first 30 days after closing and then the Note is payable in installments of $20,000 per month, commencing September 30, 2022, for 10 months and $2,493 as a final payment at the end of the 12th month following the closing. The Note is secured by a pledge of the 38,500,000 shares and as monthly installment payments are made on the Note, a pro-rata percentage of the shares are subject to release from the pledge. Deseo is currently indebted to Jon Darmstadter (“Darmstadter”) for loans made in the amount of $127,304. On June 23, 2022, Ricks Investments paid $75,000 on behalf of Deseo in partial payment of the debt and agreed to pay the $52,304 balance on the closing of the transactions with Cody and its affiliate. At closing of the above transactions, Deseo (to be renamed Cody Development Holdings, Inc.) will enter into a consulting agreement with Darmstadter, effective as of September 1, 2022, under which the consultant shall serve as a business development advisor and report to Mr. Ricks, as the new Chief Executive Officer. The agreement expires August 31, 2025; provided, that if (a) the consolidated net revenues of Deseo over the three-year term of the agreement equals or exceeds $15,000,000, and (b) the consolidated net revenues in the third anniversary year of the term ending August 31, 2025 equal or exceed consolidated net revenues in the second anniversary year of the Term ending August 31, 2024, the term of the agreement shall be extended to August 31, 2026; and provided further if consolidated net revenues in the anniversary year ending August 31, 2026 equal or exceed $15,000,000, then and in such event the term of this Agreement shall be extended to as late as August 31, 2027. In consideration for his services, Mr. Darmstadter shall receive an annual consulting fee equal to 2% of the consolidated net revenues of Deseo and its Cody subsidiary. Payable in cash on a monthly basis; provided that if mutually agreed upon such consulting fee may be paid in shares of Deseo common stock, valued at 100% of the closing price as traded on any national securities exchange or trading market at the time of issuance. Closing of the transaction contemplated by the above agreements are subject to a number of conditions, including completion of the audited financial statements of Cody for the two years ended December 31, 2021 and unaudited interim financial statements for the two years six month periods ended June 30, 2022, as well as the preparation and filing with the SEC of a “jumbo” Form 8-K containing a full description of the business and management of Deseo and Cody and a description of the new board of directors of Deseo and its Cody subsidiary. |
NATURE OF OPERATIONS AND SUMM_3
NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | 6 Months Ended | ||||
Sep. 01, 2022 | Jul. 15, 2022 | Jun. 30, 2022 | Jun. 23, 2022 | Dec. 31, 2021 | |
NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |||||
Partial Investment Payment | $ 52,304 | $ 75,000 | |||
Contribution to capital stock | 100% | ||||
Agreement Expiry Date | Aug. 31, 2025 | ||||
Annual Consulting Fee | 2% | ||||
Deseo Common Stock Shares valuation | 100% | ||||
Audited Financial Statements Period | 2 years | ||||
Unaudited Interim Financial Statements | two years six month | ||||
loan | $ 127,304 | ||||
Notes Pledge | $ 38,500,000 | ||||
Description of agreemrnt with Darmstadter | the consolidated net revenues of Deseo over the three-year term of the agreement equals or exceeds $15,000,000, and (b) the consolidated net revenues in the third anniversary year of the term ending August 31, 2025 equal or exceed consolidated net revenues in the second anniversary year of the Term ending August 31, 2024, the term of the agreement shall be extended to August 31, 2026; and provided further if consolidated net revenues in the anniversary year ending August 31, 2026 equal or exceed $15,000,000 | ||||
Common Stock Sold | 38,500,000 | ||||
Total Purchase Price | $ 202,493 | ||||
Installment Note Issued | $ 202,493 | ||||
Description of Rosen Purchase Agreement | No payments will be required for the first 30 days after closing and then the Note is payable in installments of $20,000 per month, commencing September 30, 2022, for 10 months and $2,493 as a final payment at the end of the 12th month following the closing |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
GOING CONCERN | ||
Accumulated Deficit | $ (215,472) | $ (182,531) |
Working Capital Deficit | $ (197,117) |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Advances From Related Party | $ 25,219 | $ 26,263 | |
Amount owed to CEO | 12,560 | ||
Amount owed to shareholder | $ 152,523 | ||
Former Chief Executive Officer [Member] | |||
Shareholder Loan | $ 127,304 |
EQUITY (Details Narrative)
EQUITY (Details Narrative) - $ / shares | Jun. 30, 2022 | Dec. 31, 2021 | Oct. 23, 2021 | Mar. 13, 2021 |
Preferred Stock, Shares Authorized | 1,000,000 | 1,000,000 | 1,000,000 | |
Preferred Stock, Par Value | $ 0.001 | $ 0.001 | $ 0.001 | |
Common Stock, Shares Authorized | 200,000,000 | 200,000,000 | ||
Common Stock, Par Value | $ 0.001 | $ 0.001 | ||
State of Nevada [Member] | ||||
Common Stock, Shares Authorized | 200,000,000 | |||
Common Stock, Par Value | $ 0.001 | |||
Series A Super Voting Preferred Stock [Member] | ||||
Preferred Stock, Shares Authorized | 10,000 | |||
Preferred Stock, Par Value | $ 0.001 | |||
Designation Series A Super Voting Preferred Stock [Member] | ||||
Preferred Stock, Par Value | $ 0.001 |