Cover
Cover - shares | 3 Months Ended | |
Jun. 30, 2023 | Aug. 14, 2023 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Jun. 30, 2023 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2024 | |
Current Fiscal Year End Date | --03-31 | |
Entity File Number | 000-56157 | |
Entity Registrant Name | Antiaging Quantum Living Inc. | |
Entity Central Index Key | 0001672571 | |
Entity Tax Identification Number | 47-2643986 | |
Entity Incorporation, State or Country Code | NY | |
Entity Address, Address Line One | 133-27 39th Ave | |
Entity Address, Address Line Two | Ths #PH2A | |
Entity Address, City or Town | Flushing | |
Entity Address, State or Province | NY | |
Entity Address, Postal Zip Code | 11354 | |
City Area Code | (929) | |
Local Phone Number | 527-5382 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Elected Not To Use the Extended Transition Period | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 29,995,000 |
Balance Sheets
Balance Sheets - USD ($) | Jun. 30, 2023 | Mar. 31, 2023 |
Current assets | ||
Cash and cash equivalents | $ 34,324 | $ 354 |
Prepaid expense | 738 | |
Total current assets | 35,062 | 354 |
Equipment, net | 462 | 540 |
TOTAL ASSETS | 35,524 | 894 |
Current liabilities | ||
Accrued liabilities | 4,302 | 901 |
Loan from shareholders | $ 62,156 | $ 83,300 |
Other Liability, Current, Related Party, Type [Extensible Enumeration] | ACHN:ShareholdersMember | ACHN:ShareholdersMember |
Contract liabilities | $ 1,600 | $ 2,800 |
Total current liabilities | 68,058 | 87,001 |
TOTAL LIABILITIES | 68,058 | 87,001 |
COMMITMENTS AND CONTINGENCIES | ||
STOCKHOLDERS’ DEFICIT | ||
Class A common stock, $0.001 par value, 30,000,000 authorized, 29,995,000 shares issued and outstanding | 29,995 | 29,995 |
Additional paid-in capital | 243,530 | 160,230 |
Accumulated deficit | (306,059) | (276,332) |
TOTAL STOCKHOLDERS’ DEFICIT | (32,534) | (86,107) |
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT | $ 35,524 | $ 894 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Jun. 30, 2023 | Mar. 31, 2023 |
Statement of Financial Position [Abstract] | ||
Class A common stock, par value | $ 0.001 | $ 0.001 |
Class A common stock, shares authorized | 30,000,000 | 30,000,000 |
Class A common stock, shares issued | 29,995,000 | 29,995,000 |
Class A common stock, shares outstanding | 29,995,000 | 29,995,000 |
Condensed Statements of Operati
Condensed Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Income Statement [Abstract] | ||
Revenue | $ 1,200 | $ 2,400 |
Gross profit | 1,200 | 2,400 |
Operating expenses: | ||
General and administrative | 30,927 | 23,505 |
Total operating expenses | 30,927 | 23,505 |
Loss from operations | (29,727) | (21,105) |
Loss before income tax | (29,727) | (21,105) |
Income tax expense | ||
Net income (loss) | $ (29,727) | $ (21,105) |
Weighted average shares outstanding: | ||
Basic | 29,995,000 | 29,995,000 |
Diluted | 29,995,000 | 29,995,000 |
Loss per share attributable to common stockholders: | ||
Basic | $ (0.001) | $ (0.001) |
Diluted | $ (0.001) | $ (0.001) |
Statements of Changes in Stockh
Statements of Changes in Stockholders' Deficit (Unaudited) - USD ($) | Common Stock [Member] Common Class A [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Mar. 31, 2022 | $ 29,995 | $ 160,230 | $ (239,702) | $ (49,477) |
Beginning balance, shares at Mar. 31, 2022 | 29,995,000 | |||
Net loss | (21,105) | (21,105) | ||
Ending balance, value at Jun. 30, 2022 | $ 29,995 | 160,230 | (260,807) | (70,582) |
Ending balance, shares at Jun. 30, 2022 | 29,995,000 | |||
Beginning balance, value at Mar. 31, 2023 | $ 29,995 | 160,230 | (276,332) | (86,107) |
Beginning balance, shares at Mar. 31, 2023 | 29,995,000 | |||
Shareholder loan cancellation | 83,300 | 83,300 | ||
Net loss | (29,727) | (29,727) | ||
Ending balance, value at Jun. 30, 2023 | $ 29,995 | $ 243,530 | $ (306,509) | $ (32,534) |
Ending balance, shares at Jun. 30, 2023 | 29,995,000 |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | Mar. 31, 2023 | |
Cash flows from operating activities: | |||
Net loss | $ (29,727) | $ (21,105) | |
Adjustments to reconcile net income (loss) to net cash used in operating activities: | |||
Depreciation | 78 | 79 | |
Changes in operating assets and liabilities: | |||
Prepaid expense | (738) | ||
Accrued liabilities | 3,401 | 8,596 | |
Contract liabilities | (1,200) | (2,400) | |
Net cash used in operating activities | (28,186) | (14,830) | |
Cash flows from financing activities: | |||
Proceeds from shareholder loan | 62,156 | 2,000 | |
Net cash provided by financing activities | 62,156 | 2,000 | |
Net increase (decrease) in cash and cash equivalents | 33,970 | (12,830) | |
Cash and cash equivalents, beginning balance | 354 | 14,269 | $ 14,269 |
Cash and cash equivalents, ending balance | 34,324 | 1,439 | $ 354 |
SUPPLEMENTARY DISCLOSURE: | |||
Interest paid | |||
Income tax paid | |||
SUPPLEMENTARY DISCLOSURE OF NON-CASH INVESTMENT AND FINANCING ACTIVITIES: | |||
Related party debt forgiven as additional paid-in capital | $ 83,300 |
ORGANIZATION AND PRINCIPAL ACTI
ORGANIZATION AND PRINCIPAL ACTIVITIES | 3 Months Ended |
Jun. 30, 2023 | |
Accounting Policies [Abstract] | |
ORGANIZATION AND PRINCIPAL ACTIVITIES | NOTE 1 – ORGANIZATION AND PRINCIPAL ACTIVITIES Antiaging Quantum Living Inc. (FKA: Achison Inc.) (the “Company”, “us”, “we” or “our”) was incorporated under the laws of the State of New York December 29, 2014 On July 1, 2019, Lansdale Inc, the principal stockholder of the Company (“Seller”) and controlled by the Company’s former President, Mr. Wanjun Xie, entered into a Stock Purchase Agreement (the “Agreement”) with Dazhong 368 Inc, (the “Buyer”), pursuant to which, a total of 9,000,000 90 On April 10, 2023, Mr. Barry Wan acquired control of 29,215,000 97 400,000.00 97 29,995,000 In connection with the transaction, on April 10, 2023, Mr. Dingshan Zhang resigned from all positions he held with the Company. On April 10, 2023, Ms. Jing Wan was appointed by our majority shareholder as our Chief Executive Officer, Chief Financial Officer, President and Director. On June 16, 2023, Mr. Barry Wan consented to act as the new CEO and CFO after Ms. Jing Wan resigned. The Company was renamed as Antiaging Quantum Living Inc on June 14, 2023 by the new management. The change in control with respect to the Company is to better reflect its new business direction, with the intention of acquiring businesses involved in healthcare management and insurance services. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended |
Jun. 30, 2023 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation In the opinion of management, the unaudited interim condensed financial statements reflect all adjustments of a normal recurring nature that are necessary for a fair presentation of the results for the interim periods presented. However, the results of operations included in such financial statements may not necessary be indicative of annual results. The Company uses the same accounting policies in preparing quarterly and annual financial statements. Certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted. These unaudited condensed financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended March 31, 2023 filed with the Securities and Exchange Commission (“SEC”) on July 14, 2023 (“2023 Form 10-K.”) Use of Estimates The accompanying financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (the “SEC”). The preparation of the Company’s financial statements in conformity with GAAP requires management to make estimates, judgments and assumptions that affect the amounts reported in the financial statements and footnotes thereto. Actual results may differ from those estimates and assumptions. Cash and Cash Equivalents Cash and cash equivalents include cash in banks, bank deposits, and highly liquid investments with maturities of three months or less at the date of origination. Revenue Recognition Revenue is recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. The Company determines revenue recognition by applying the following steps: 1) identification of the contract, or contracts, with a customer; 2) identification of the performance obligations in the contract; 3) determination of the transaction price; 4) allocation of the transaction price to the performance obligations in the contract; and 5) recognition of revenue when, or as, we satisfy a performance obligation. Advertising revenue is generated by displaying advertising products on our website. The Company recognizes revenue from the display of impression-based advertisements in the contracted period in which the impressions are displayed. Impressions are considered delivered when an advertisement is displayed to the Website visitors. In general, the Company presents advertising revenue on a gross basis, since the Company controls the advertising inventory before it is transferred to its customers. Control of advertisement inventory is evidenced by the Company’s sole ability to monetize the advertising inventory before it is transferred to our customers. Pricing for our services is generally a fixed amount at a monthly level and is typically due within 30 days upon signing the contract with customers. Unsatisfied performance obligations under advertising contracts are recorded as contract liabilities. Income Taxes The Company records income tax expense using the asset-and-liability method of accounting for deferred income taxes. Under this method, deferred taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each year-end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Deferred tax assets are reduced by a valuation allowance if, based on available evidence, it is more likely than not that the deferred tax assets will not be realized. When tax returns are filed, it is likely some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more-likely-than-not the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50% likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount described above is reflected as a liability for unrecognized tax benefits in the accompanying balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination. Interest associated with unrecognized tax benefits is classified as interest expense and penalties are classified in general and administrative expenses in the statements of operations. Earnings Per Share The Company computes basic and diluted earnings per share amounts in accordance with ASC Topic 260, Earnings per Share. Basic earnings per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of common shares outstanding during the reporting period. Diluted earnings per share reflects the potential dilution that could occur if stock options and other commitments to issue common stock were exercised or equity awards vest resulting in the issuance of common stock that could share in the earnings of the Company. As of June 30, 2023 and March 31, 2023, the Company does not have any potentially dilutive instrument. Contingencies Certain conditions may exist as of the date the financial statements are issued, which could result in a loss to the Company which will be resolved when one or more future events occur or fail to occur. The Company’s management assesses such contingent liabilities, and such assessment inherently involves judgment. In assessing loss contingencies arising from legal proceedings pending against the Company or unasserted claims that may rise from such proceedings, the Company’s management evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought. If the assessment of a contingency indicates it is probable a material loss will be incurred and the amount of the loss can be reasonably estimated, then the estimated loss is accrued in the Company’s financial statements. If the assessment indicates a material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material would be disclosed. Fair Value Measurements Fair value accounting establishes a framework for measuring fair value and expands disclosure about fair value measurements. Fair value, which is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. This framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels as follows: ● Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. ● Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liabilities, either directly or indirectly, for substantially the full term of the financial instruments. ● Level 3 inputs to the valuation methodology are unobservable and significant to the fair value. The Company’s financial instruments consisted of cash, accounts payable, contract liabilities and loan from shareholders. The estimated fair value of those balances approximates the carrying amount due to the short maturity of these instruments. Recent Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, (Topic 326), Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments which amends the current accounting guidance and requires the use of the new forward-looking “expected loss” model, rather than the “incurred loss” model, which requires all expected losses to be determined based on historical experience, current conditions and reasonable and supportable forecasts. In November 2019, the FASB issued ASU No. 2019-10 to postpone the effective date of ASU No. 2016-13 for public business entities eligible to be smaller reporting companies (SRCs) as defined by the SEC. ASU No. 2016-13 is effective for SRCs for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company adopted ASU 2016-13 on its financial position and results of operations as of April 1, 2023, with no material impact. There were other updates recently issued. The management does not believe that other than the disclosed above, accounting pronouncements the recently issued but not yet adopted will have a material impact on its financial position results of operations or cash flows. |
GOING CONCERN
GOING CONCERN | 3 Months Ended |
Jun. 30, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN | NOTE 3 – GOING CONCERN The Company’s financial statements have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities and commitments in the normal course of business. The Company had an accumulated deficit of $ 306,059 32,996 Management’s plan to alleviate the substantial doubt about the Company’s ability to continue as a going concern include attempting to improve its business profitability, its ability to generate sufficient cash flow from its operations to meet its operating needs on a timely basis, obtain additional working capital funds from the majority shareholder and President of the Company to eliminate inefficiencies in order to meet its anticipated cash requirements. However, there can be no assurance that these plans and arrangements will be sufficient to fund the Company’s ongoing capital expenditures and other requirements. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary in the event that the Company cannot continue as a going concern. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 3 Months Ended |
Jun. 30, 2023 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 4 – RELATED PARTY TRANSACTIONS Lease The Company has been provided office space by its President at no cost. The management determined that such cost is immaterial and did not recognize the rent expense in its financial statements. Loan from shareholders In August 2019, the Company borrowed $ 71,000 December 2021 17,000 5,000 December 31, 2023 24,300 83,300 During the three months ended June 30, 2022, the Company received advances in the total amount of $ 62,156 |
CONTRACT LIABILITIES
CONTRACT LIABILITIES | 3 Months Ended |
Jun. 30, 2023 | |
Revenue from Contract with Customer [Abstract] | |
CONTRACT LIABILITIES | NOTE 5 – CONTRACT LIABILITIES Contract liabilities represent payments received in advance of performance under the contract for the unsatisfied performance obligation and are realized when the associated revenue is recognized under the advertising contracts. As of June 30, 2023 and March 31, 2023, contract liabilities were $ 1,600 2,800 |
INCOME TAX
INCOME TAX | 3 Months Ended |
Jun. 30, 2023 | |
Income Tax Disclosure [Abstract] | |
INCOME TAX | NOTE 6 – INCOME TAX The Company has not recognized an income tax benefit for its operating losses generated based on uncertainties concerning its ability to generate taxable income in future periods. The tax benefit for the period presented is offset by a valuation allowance established against deferred tax assets arising from the net operating losses, the realization of which could not be considered more likely than not. In future periods, tax benefits and related deferred tax assets will be recognized when management considers realization of such amounts to be more likely than not. Net operation losses (“NOLs”) can be carried forever based on the 2017 Tax Cuts and Jobs Act 54,000 69,000 |
SHAREHOLDERS_ EQUITY
SHAREHOLDERS’ EQUITY | 3 Months Ended |
Jun. 30, 2023 | |
Equity [Abstract] | |
SHAREHOLDERS’ EQUITY | NOTE 7 – SHAREHOLDERS’ EQUITY The Company is authorized to issued 30,000,000 On August 19, 2019, the Company amended its article with New York State to increase the authorized Class A common shares with a par value of $ 0.001 30,000,000 On October 11, 2021, the Company amended its article with New York State to change the authorized Class A common shares with a par value of $ 0.001 100,000,000 0.001 20,000,000 On March 28, 2023, the Company amended its article with New York State to change the authorized common shares with a par value of $ 0.001 30,000,000 no During the three months ended June 30, 2023, shareholder loan of $ 83,300 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 3 Months Ended |
Jun. 30, 2023 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 8 – SUBSEQUENT EVENTS The Company evaluated all events or transactions that occurred after June 30, 2023 through the date the financial statements were issued. During the period, the Company did not have any material recognizable subsequent events required to be disclosed or adjusted as of and for the three months ended June 30, 2023. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 3 Months Ended |
Jun. 30, 2023 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation In the opinion of management, the unaudited interim condensed financial statements reflect all adjustments of a normal recurring nature that are necessary for a fair presentation of the results for the interim periods presented. However, the results of operations included in such financial statements may not necessary be indicative of annual results. The Company uses the same accounting policies in preparing quarterly and annual financial statements. Certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted. These unaudited condensed financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended March 31, 2023 filed with the Securities and Exchange Commission (“SEC”) on July 14, 2023 (“2023 Form 10-K.”) |
Use of Estimates | Use of Estimates The accompanying financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (the “SEC”). The preparation of the Company’s financial statements in conformity with GAAP requires management to make estimates, judgments and assumptions that affect the amounts reported in the financial statements and footnotes thereto. Actual results may differ from those estimates and assumptions. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents include cash in banks, bank deposits, and highly liquid investments with maturities of three months or less at the date of origination. |
Revenue Recognition | Revenue Recognition Revenue is recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. The Company determines revenue recognition by applying the following steps: 1) identification of the contract, or contracts, with a customer; 2) identification of the performance obligations in the contract; 3) determination of the transaction price; 4) allocation of the transaction price to the performance obligations in the contract; and 5) recognition of revenue when, or as, we satisfy a performance obligation. Advertising revenue is generated by displaying advertising products on our website. The Company recognizes revenue from the display of impression-based advertisements in the contracted period in which the impressions are displayed. Impressions are considered delivered when an advertisement is displayed to the Website visitors. In general, the Company presents advertising revenue on a gross basis, since the Company controls the advertising inventory before it is transferred to its customers. Control of advertisement inventory is evidenced by the Company’s sole ability to monetize the advertising inventory before it is transferred to our customers. Pricing for our services is generally a fixed amount at a monthly level and is typically due within 30 days upon signing the contract with customers. Unsatisfied performance obligations under advertising contracts are recorded as contract liabilities. |
Income Taxes | Income Taxes The Company records income tax expense using the asset-and-liability method of accounting for deferred income taxes. Under this method, deferred taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each year-end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Deferred tax assets are reduced by a valuation allowance if, based on available evidence, it is more likely than not that the deferred tax assets will not be realized. When tax returns are filed, it is likely some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more-likely-than-not the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50% likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount described above is reflected as a liability for unrecognized tax benefits in the accompanying balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination. Interest associated with unrecognized tax benefits is classified as interest expense and penalties are classified in general and administrative expenses in the statements of operations. |
Earnings Per Share | Earnings Per Share The Company computes basic and diluted earnings per share amounts in accordance with ASC Topic 260, Earnings per Share. Basic earnings per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of common shares outstanding during the reporting period. Diluted earnings per share reflects the potential dilution that could occur if stock options and other commitments to issue common stock were exercised or equity awards vest resulting in the issuance of common stock that could share in the earnings of the Company. As of June 30, 2023 and March 31, 2023, the Company does not have any potentially dilutive instrument. |
Contingencies | Contingencies Certain conditions may exist as of the date the financial statements are issued, which could result in a loss to the Company which will be resolved when one or more future events occur or fail to occur. The Company’s management assesses such contingent liabilities, and such assessment inherently involves judgment. In assessing loss contingencies arising from legal proceedings pending against the Company or unasserted claims that may rise from such proceedings, the Company’s management evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought. If the assessment of a contingency indicates it is probable a material loss will be incurred and the amount of the loss can be reasonably estimated, then the estimated loss is accrued in the Company’s financial statements. If the assessment indicates a material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material would be disclosed. |
Fair Value Measurements | Fair Value Measurements Fair value accounting establishes a framework for measuring fair value and expands disclosure about fair value measurements. Fair value, which is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. This framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels as follows: ● Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. ● Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liabilities, either directly or indirectly, for substantially the full term of the financial instruments. ● Level 3 inputs to the valuation methodology are unobservable and significant to the fair value. The Company’s financial instruments consisted of cash, accounts payable, contract liabilities and loan from shareholders. The estimated fair value of those balances approximates the carrying amount due to the short maturity of these instruments. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, (Topic 326), Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments which amends the current accounting guidance and requires the use of the new forward-looking “expected loss” model, rather than the “incurred loss” model, which requires all expected losses to be determined based on historical experience, current conditions and reasonable and supportable forecasts. In November 2019, the FASB issued ASU No. 2019-10 to postpone the effective date of ASU No. 2016-13 for public business entities eligible to be smaller reporting companies (SRCs) as defined by the SEC. ASU No. 2016-13 is effective for SRCs for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company adopted ASU 2016-13 on its financial position and results of operations as of April 1, 2023, with no material impact. There were other updates recently issued. The management does not believe that other than the disclosed above, accounting pronouncements the recently issued but not yet adopted will have a material impact on its financial position results of operations or cash flows. |
ORGANIZATION AND PRINCIPAL AC_2
ORGANIZATION AND PRINCIPAL ACTIVITIES (Details Narrative) - USD ($) | 3 Months Ended | |||
Apr. 10, 2023 | Jul. 01, 2019 | Jun. 30, 2023 | Mar. 31, 2023 | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||
Entity incorporation, state or country code | NY | |||
Date of incorporation | Dec. 29, 2014 | |||
Common stock outstanding | 29,995,000 | 29,995,000 | ||
Stock Purchase Agreement [Member] | Dazhong 368 Inc [Member] | ||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||
Shares transferred to buyer | 9,000,000 | |||
Equity ownership percentage | 90% | |||
Stock Purchase Agreement [Member] | MR Barry Wan [Member] | ||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||
Shares transferred to buyer | 29,215,000 | |||
Equity ownership percentage | 97% | |||
Stock purchase price | $ 400,000 | |||
Common stock outstanding | 29,995,000 |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | Jun. 30, 2023 | Mar. 31, 2023 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Accumulated deficit | $ 306,059 | $ 276,332 |
Working capital | $ 32,996 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||||
Dec. 29, 2022 | Dec. 29, 2021 | May 31, 2021 | Aug. 31, 2019 | Jun. 30, 2023 | Jun. 30, 2022 | Mar. 31, 2023 | Mar. 31, 2022 | Apr. 10, 2023 | |
Related Party Transaction [Line Items] | |||||||||
Borrowed amount | $ 62,156 | $ 2,000 | |||||||
Loan from shareholders | $ 62,156 | $ 83,300 | |||||||
President [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Loan from shareholders | $ 62,156 | ||||||||
Former President [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Borrowed amount | $ 5,000 | $ 71,000 | $ 24,300 | ||||||
Amendment maturity date | December 31, 2023 | December 31, 2023 | December 2021 | ||||||
Repayments of related party debt | $ 17,000 | ||||||||
Shareholder loan waived | $ 83,300 |
CONTRACT LIABILITIES (Details N
CONTRACT LIABILITIES (Details Narrative) - USD ($) | Jun. 30, 2023 | Mar. 31, 2023 |
Revenue from Contract with Customer [Abstract] | ||
Contract liabilities | $ 1,600 | $ 2,800 |
INCOME TAX (Details Narrative)
INCOME TAX (Details Narrative) - USD ($) | 3 Months Ended | |
Jun. 30, 2023 | Mar. 31, 2023 | |
Income Tax Disclosure [Abstract] | ||
NOL carry forward description | Net operation losses (“NOLs”) can be carried forever based on the 2017 Tax Cuts and Jobs Act | |
Deferred tax asset from NOLs | $ 54,000 | $ 69,000 |
SHAREHOLDERS_ EQUITY (Details N
SHAREHOLDERS’ EQUITY (Details Narrative) - USD ($) | 3 Months Ended | |||||
Jun. 30, 2023 | Jun. 30, 2022 | Mar. 31, 2023 | Mar. 28, 2023 | Oct. 11, 2021 | Aug. 19, 2019 | |
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||
Class A common stock, shares authorized | 30,000,000 | 30,000,000 | 30,000,000 | 100,000,000 | 30,000,000 | |
Class A common stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | |
Preferred stock, par value | $ 0.001 | |||||
Preferred stock, shares authorized | 0 | 20,000,000 | ||||
Related party debt forgiven | $ 83,300 | |||||
Former President [Member] | ||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||
Related party debt forgiven | $ 83,300 |