Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Dec. 31, 2019 | Feb. 14, 2020 | |
Document and Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Dec. 31, 2019 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q2 | |
Entity Registrant Name | BITMIS CORP. | |
Entity Central Index Key | 0001678848 | |
Current Fiscal Year End Date | --06-30 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Common Stock, Shares Outstanding | 6,250,750 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Shell Company | false | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | false |
Balance sheets
Balance sheets - USD ($) | Dec. 31, 2019 | Jun. 30, 2019 |
Current Assets | ||
Cash and cash equivalents | $ (25) | $ 747 |
Prepaid Expense | 0 | 1,350 |
Total Current Assets | (25) | 2,097 |
Fixed Assets | ||
Equipment, net | 80 | 463 |
Total Fixed Assets | 80 | 463 |
Total Assets | 54 | 2,560 |
Current Liabilities | ||
Accounts Payable | 1,914 | 1,166 |
Related Party Loans | 7,567 | 4,370 |
Total Current Liabilities | $ 9,481 | $ 5,537 |
Stockholder's Equity | ||
Common stock, par value $0.001; 75,000,000 shares authorized, 6,250,750 and 6,250,750 shares issued and outstanding | 6,251 | 6,251 |
Additional paid in capital | $ 23,765 | $ 23,765 |
Accumulated income (deficit) | (39,442) | (32,993) |
Total Stockholder's Equity | (9,426) | (2,977) |
Total Liabilities and Stockholder's Equity | $ 54 | $ 2,560 |
Balance sheets (Parenthetical)
Balance sheets (Parenthetical) - USD ($) | Dec. 31, 2019 | Jun. 30, 2019 |
Statement of Financial Position [Abstract] | ||
Common stock par value | $ 0.001 | $ 0.001 |
Common stock, par value $0.001; 75,000,000 shares | 75,000,000 | 75,000,000 |
Common stock 6,250,750 and 6,250,750 shares issued and outstanding | 6,250,750 | 6,250,750 |
Statement of operations
Statement of operations - USD ($) | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income Statement [Abstract] | ||||
REVENUES | $ 0 | $ 0 | $ 0 | $ 0 |
Gross Profit | 0 | 0 | 0 | 0 |
OPERATING EXPENSES | ||||
General and Administrative Expenses | 3,395 | 9,571 | 6,449 | 13,905 |
TOTAL OPERATING EXPENSES | (3,395) | (9,571) | (6,449) | (13,905) |
NET INCOME (LOSS) FROM OPERATIONS | (3,395) | (9,571) | (6,449) | (13,905) |
PROVISION FOR INCOME TAXES | 0 | 0 | 0 | 0 |
NET INCOME (LOSS) | $ (3,395) | $ (9,571) | $ (6,449) | $ (13,905) |
NET LOSS PER SHARE: BASIC AND DILUTED | $ 0 | $ 0 | $ 0 | $ 0 |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED | 6,250,750 | 6,250,750 | 6,250,750 | 6,250,750 |
Statement of Changes in Stockho
Statement of Changes in Stockholder's Equity - USD ($) | Total | Common Stock | Additional Paid-in Capital | Retained Deficit |
Balance at Jun. 30, 2018 | $ 18,805 | $ 6,251 | $ 23,765 | $ (11,211) |
Balance (in shares) at Jun. 30, 2018 | 6,250,750 | |||
Net loss for the period | (4,335) | (4,335) | ||
Balance at Sep. 30, 2018 | 14,471 | $ 6,251 | 23,765 | (15,545) |
Balance (in shares) at Sep. 30, 2018 | 6,250,750 | |||
Net loss for the period | (9,571) | (9,571) | ||
Balance at Dec. 30, 2018 | 4,900 | $ 6,251 | 23,765 | (25,116) |
Balance (in shares) at Dec. 30, 2018 | 6,250,750 | |||
Balance at Jun. 30, 2019 | (2,977) | $ 6,251 | 23,765 | (32,993) |
Balance (in shares) at Jun. 30, 2019 | 6,250,750 | |||
Net loss for the period | (1,887) | (1,887) | ||
Balance at Sep. 30, 2019 | (4,864) | $ 6,251 | 23,765 | (34,880) |
Balance (in shares) at Sep. 30, 2019 | 6,250,750 | |||
Net loss for the period | (3,395) | (3,395) | ||
Balance at Dec. 31, 2019 | $ (9,426) | $ 6,251 | $ 23,765 | $ (39,442) |
Balance (in shares) at Dec. 31, 2019 | 6,250,750 |
Statement of cash flows
Statement of cash flows - USD ($) | 6 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income/loss for the period | $ (6,449) | $ (13,905) |
Adjustments to reconcile net loss to net cash (used in) operating activities | ||
Increase in Depreciation | 383 | 1,515 |
Decrease in Accounts Payable | 747 | 0 |
Change in Prepaid Expenses | 1,350 | |
CASH FLOWS USED IN OPERATING ACTIVITIES | (3,969) | (12,390) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Director Loan | 3,197 | 0 |
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES | 3,197 | 0 |
NET INCREASE IN CASH | (772) | (12,390) |
Cash, beginning of period | 747 | 19,328 |
Cash, end of period | (25) | 6,938 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Interest paid | 0 | 0 |
Income taxes paid | $ 0 | $ 0 |
- ORGANIZATION AND NATURE OF BU
- ORGANIZATION AND NATURE OF BUSINESS | 6 Months Ended |
Dec. 31, 2019 | |
- ORGANIZATION AND NATURE OF BUSINESS [Abstract] | |
- ORGANIZATION AND NATURE OF BUSINESS | Note 1 - ORGANIZATION AND NATURE OF BUSINESS Bitmis Corp. (“the Company”, “we”, “us” or “our”) was incorporated in the State of Nevada on June 6, 2016. We just recently started our operations. We intend to commence operations in the business of consulting in Thailand. Our company plans to provide business-consulting services entities and individuals in Thailand. We offer the following set of services: investment portfolio formation, crediting, tax planning, obtaining the certificate of the Board of Investment of Thailand (BOI), legal services. Our office location is Unit No. 5784, 152 Chartered Square Building, 212/19, 10500 Bang(ok, Thailand. The results for the three months ended December 31, 2019 are not necessarily indicative of the results of operations for the full year. These financial statements and related footnotes should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company's Annual Report on Form 10K for the year ended June 30, 2019, filed with the Securities and Exchange Commission. The accompanying condensed financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at December 31, 2019 and for the related periods presented. |
- GOING CONCERN
- GOING CONCERN | 6 Months Ended |
Dec. 31, 2019 | |
- GOING CONCERN [Abstract] | |
- GOING CONCERN | Note 2 - GOING CONCERN The accompanying financial statements have been prepared in conformity with generally accepted accounting principles, which contemplate continuation of the Company as a going concern. The Company had accumulated deficit of $ 39,442 as of December 31, 2019. The Company currently has loses and has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time. Therefore, there is substantial doubt about the Company's ability 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 will be able to raise additional funds through the capital markets. In light of management's 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. |
- SUMMARY OF SIGNIFCANT ACCOUNT
- SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES | 6 Months Ended |
Dec. 31, 2019 | |
- SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES [Abstract] | |
- 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 Company's yearend is June 30. 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. Cash and Cash E q ui v a lents T h e C o m p a ny c o nsi d ers all h i gh ly li qu i d inves t m e n ts wit h t h e ori g i n a l m atu ritie s o f thre e m on t hs or les s to be ca s h e q u i v a le n t s. The Company had $54 of cash as of December 31, 2019. Depreciation, Amortization, and Capitalization The Company records depreciation and amortization when appropriate using straight-line balance method over the estimated useful life of the assets. We estimate that the useful life of PC and related equipment is 4 years. Expenditures for maintenance and repairs are charged to expense as incurred. Additions, major renewals and replacements that increase the property's useful life are capitalized. Property sold or retired, together with the related accumulated depreciation is removed from the appropriated accounts and the resultant gain or loss is included in net income. 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 Company's loan from shareholder approximates its fair value due to their short-term maturity. BITMIS CORP. Notes to the unaudited financial statements DECEMBER 31, 2019 Income Taxes The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, Income Taxes . The asset and liability method provides that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. Revenue Recognition The Company recognizes revenue in accordance with Accounting Standards Codification No. 605, “Revenue Recognition” ("ASC-605"), ASC-605 requires that four basic criteria must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed and determinable; and (4) collectability is reasonably assured. Determination of criteria (3) and (4) are based on management's judgments regarding the fixed nature of the selling prices of the products delivered and the collectability of those amounts. Provisions for discounts and rebates to customers, estimated returns and allowances, and other adjustments are provided for in the same period the related sales are recorded. The Company will defer any revenue for which the product has not been delivered or is subject to refund until such time that the Company and the customer jointly determine that the product has been delivered or no refund will be required. As of December 31, 2019 the Company has not generated any revenue. 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 December 31, 2019 there were no potentially dilutive debt or equity instruments issued or outstanding. Comprehensive Income Comprehensive income is defined as all changes in stockholders' equity (deficit), exclusive of transactions with owners, such as capital investments. Comprehensive income includes net income or loss, changes in certain assets and liabilities that are reported directly in equity such as translation adjustments on investments in foreign subsidiaries and unrealized gains (losses) on available-for-sale securities. As of December 31, 2019 were no differences between our comprehensive loss and net loss. 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. Recent Accounting Pronouncements We have 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. |
- LOAN FROM DIRECTOR
- LOAN FROM DIRECTOR | 6 Months Ended |
Dec. 31, 2019 | |
- LOAN FROM DIRECTOR [Abstract] | |
- LOAN FROM DIRECTOR | Note 4 - LOAN FROM DIRECTOR As of December 31, 2019, our sole director has loaned to the Company $7,567. This loan is unsecured, non-interest bearing and due on demand. The balance due to the director was $7,567 as of December 31, 2019. |
- COMMON STOCK
- COMMON STOCK | 6 Months Ended |
Dec. 31, 2019 | |
- COMMON STOCK [Abstract] | |
- COMMON STOCK | Note 5 - COMMON STOCK The Company has 75,000,000, $0.001 par value shares of common stock authorized. On June 28, 2017 the Company issued 5,000,000 shares of common stock to a director for cash proceeds of $5,000 at $0.001 per share. There were 6,250,750 shares of common stock issued and outstanding as of December 31, 2018. BITMIS CORP. Notes to the unaudited financial statements DECEMBER 31, 2019 |
- COMMITMENTS AND CONTINGENCIES
- COMMITMENTS AND CONTINGENCIES | 6 Months Ended |
Dec. 31, 2019 | |
- COMMITMENTS AND CONTINGENCIES [Abstract] | |
- COMMITMENTS AND CONTINGENCIES | Note 6 - COMMITMENTS AND CONTINGENCIES Our sole officer and director, Anna Varlamova, has agreed to provide her own premise under office needs. She will not take any fee for these premises, it is for free use. |
- SUBSEQUENT EVENTS
- SUBSEQUENT EVENTS | 6 Months Ended |
Dec. 31, 2019 | |
- SUBSEQUENT EVENTS [Abstract] | |
- SUBSEQUENT EVENTS | Note 7 - SUBSEQUENT EVENTS In accordance with SFAS 165 (ASC 855-10) the Company has analyzed its operations subsequent to February 14, 2020 to the date these financial statements were issued, and has determined that it does not have any material subsequent events to disclose in these financial statements. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Dec. 31, 2019 | |
Significant Accounting Policies (Policies) [Abstract] | |
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 Company's yearend is June 30. |
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. |
Cash and Cash Equivalents | Cash and Cash E q ui v a lents T h e C o m p a ny c o nsi d ers all h i gh ly li qu i d inves t m e n ts wit h t h e ori g i n a l m atu ritie s o f thre e m on t hs or les s to be ca s h e q u i v a le n t s. The Company had $54 of cash as of December 31, 2019. |
Depreciation, Amortization, and Capitalization | Depreciation, Amortization, and Capitalization The Company records depreciation and amortization when appropriate using straight-line balance method over the estimated useful life of the assets. We estimate that the useful life of PC and related equipment is 4 years. Expenditures for maintenance and repairs are charged to expense as incurred. Additions, major renewals and replacements that increase the property's useful life are capitalized. Property sold or retired, together with the related accumulated depreciation is removed from the appropriated accounts and the resultant gain or loss is included in net income. |
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 Company's loan from shareholder approximates its fair value due to their short-term maturity. BITMIS CORP. Notes to the unaudited financial statements DECEMBER 31, 2019 |
Income Taxes | Income Taxes The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, Income Taxes . The asset and liability method provides that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. |
Revenue Recognition | Revenue Recognition The Company recognizes revenue in accordance with Accounting Standards Codification No. 605, “Revenue Recognition” ("ASC-605"), ASC-605 requires that four basic criteria must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed and determinable; and (4) collectability is reasonably assured. Determination of criteria (3) and (4) are based on management's judgments regarding the fixed nature of the selling prices of the products delivered and the collectability of those amounts. Provisions for discounts and rebates to customers, estimated returns and allowances, and other adjustments are provided for in the same period the related sales are recorded. The Company will defer any revenue for which the product has not been delivered or is subject to refund until such time that the Company and the customer jointly determine that the product has been delivered or no refund will be required. As of December 31, 2019 the Company has not generated any revenue. |
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 December 31, 2019 there were no potentially dilutive debt or equity instruments issued or outstanding. |
Comprehensive Income | Comprehensive Income Comprehensive income is defined as all changes in stockholders' equity (deficit), exclusive of transactions with owners, such as capital investments. Comprehensive income includes net income or loss, changes in certain assets and liabilities that are reported directly in equity such as translation adjustments on investments in foreign subsidiaries and unrealized gains (losses) on available-for-sale securities. As of December 31, 2019 were no differences between our comprehensive loss and net loss. |
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. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements We have 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. |
- SUMMARY OF SIGNIFCANT ACCOU_2
- SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (Tables) | 6 Months Ended |
Dec. 31, 2019 | |
- SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (Tables) [Abstract] | |
These tiers include: | 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. |
- GOING CONCERN (Details Text)
- GOING CONCERN (Details Text) | Dec. 31, 2019USD ($) |
Going Concern_ Details_ [Abstract] | |
The Company had accumulated deficit of $ 39,442 as of December 31, 2019 | $ 39,442 |
- SUMMARY OF SIGNIFCANT ACCOU_3
- SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (Details Text) | Dec. 31, 2019USD ($) |
Summary Of Signifcant Accounting Policies Details_ [Abstract] | |
The Company had $54 of cash as of December 31, 2019. | $ 54 |
- LOAN FROM DIRECTOR (Details T
- LOAN FROM DIRECTOR (Details Text) | Dec. 31, 2019USD ($) |
Loan From Director_ [Abstract] | |
As of December 31, 2019, our sole director has loaned to the Company $7,567 | $ 7,567 |
- COMMON STOCK (Details Text)
- COMMON STOCK (Details Text) - USD ($) | Dec. 31, 2018 | Jun. 28, 2017 |
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
On June 28, 2017 the Company issued 5,000,000 shares of common stock to a director for cash proceeds of $5,000 at $0.001 per share. | 5,000 | |
There were 6,250,750 shares of common stock issued and outstanding as of December 31, 2018. | $ 6,250,750 |
Uncategorized Items - none-2019
Label | Element | Value |
Net Income (Loss) Attributable to Parent | us-gaap_NetIncomeLoss | $ (21,783) |
Retained Earnings [Member] | ||
Net Income (Loss) Attributable to Parent | us-gaap_NetIncomeLoss | $ (21,783) |