Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2021 | Aug. 23, 2021 | |
Details | ||
Registrant CIK | 0001693696 | |
Fiscal Year End | --12-31 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2021 | |
Document Transition Report | false | |
Entity File Number | 000-55740 | |
Entity Registrant Name | UNITED CAPITAL CONSULTANTS INC. | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 81-4625084 | |
Entity Address, Address Line One | 3210 E. Coralbell Ave. | |
Entity Address, City or Town | Mesa | |
Entity Address, State or Province | AZ | |
Entity Address, Postal Zip Code | 85204 | |
City Area Code | 480 | |
Local Phone Number | 666-4116 | |
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 | |
Entity Ex Transition Period | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 4,503,918 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q2 |
CONDENSED BALANCE SHEETS
CONDENSED BALANCE SHEETS - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Current assets | ||
Cash | $ 768 | $ 1,668 |
Total current assets | 768 | 1,668 |
Deposits - related party | 65,000 | 65,000 |
Total assets | 65,768 | 66,668 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ||
Accrued liabilities | 50,000 | 35,000 |
Total liabilities | 50,000 | 35,000 |
Stockholders' equity | ||
Preferred stock value | 0 | 0 |
Common stock value | 450 | 450 |
Additional paid-in capital | 344,264 | 331,764 |
Accumulated deficit | (328,946) | (300,546) |
Total stockholders' equity | 15,768 | 31,668 |
Total liabilities and stockholders' equity | $ 65,768 | $ 66,668 |
CONDENSED BALANCE SHEETS - Pare
CONDENSED BALANCE SHEETS - Parenthetical - $ / shares | Jun. 30, 2021 | Dec. 31, 2020 |
Details | ||
Preferred Stock, No Par Value | $ 0.0001 | $ 0.0001 |
Preferred Stock, Shares Authorized | 20,000,000 | 20,000,000 |
Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 |
Common Stock, Shares Authorized | 100,000,000 | 100,000,000 |
Common Stock, Shares, Issued | 4,502,818 | 4,500,318 |
Common Stock, Shares, Outstanding | 4,502,818 | 4,500,318 |
CONDENSED STATEMENTS OF OPERATI
CONDENSED STATEMENTS OF OPERATIONS - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Details | ||||
Revenues | $ 0 | $ 0 | $ 0 | $ 0 |
Operating expenses | 20,530 | 33,928 | 28,400 | 79,217 |
Operating loss | (20,530) | (33,928) | (28,400) | (79,217) |
Other income (expense) | ||||
EIDL advance | 0 | 2,000 | 0 | 2,000 |
Loss before taxes | (20,530) | (31,928) | (28,400) | (77,217) |
Income tax expense | 0 | 0 | 0 | 0 |
Net income (loss) | $ (20,530) | $ (31,928) | $ (28,400) | $ (77,217) |
Loss per share - basic and diluted | $ 0 | $ (0.01) | $ (0.01) | $ (0.02) |
Weighted average shares - basic and diluted | 4,502,818 | 4,490,808 | 4,502,268 | 4,489,421 |
CONDENSED STATEMENTS OF CHANGES
CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) | Common Stock | Additional Paid-in Capital | Retained Earnings | Total |
Equity Balance at Dec. 31, 2019 | $ 448 | $ 217,266 | $ (141,495) | $ 76,219 |
Equity Balance, Shares at Dec. 31, 2019 | 4,477,418 | |||
Common stock issued for cash | $ 1 | 54,999 | 0 | 55,000 |
Common stock issued for cash, shares | 11,000 | |||
Net income (loss) | $ 0 | 0 | (45,289) | (45,289) |
Equity Balance at Mar. 31, 2020 | $ 449 | 272,265 | (186,784) | 85,930 |
Equity Balance, Shares at Mar. 31, 2020 | 4,488,418 | |||
Equity Balance at Dec. 31, 2019 | $ 448 | 217,266 | (141,495) | 76,219 |
Equity Balance, Shares at Dec. 31, 2019 | 4,477,418 | |||
Common stock issued for cash | $ 72,500 | |||
Common stock issued for cash, shares | 14,500 | |||
Net income (loss) | $ (77,217) | |||
Equity Balance at Jun. 30, 2020 | $ 449 | 289,765 | (218,712) | 71,502 |
Equity Balance, Shares at Jun. 30, 2020 | 4,491,918 | |||
Equity Balance at Mar. 31, 2020 | $ 449 | 272,265 | (186,784) | 85,930 |
Equity Balance, Shares at Mar. 31, 2020 | 4,488,418 | |||
Common stock issued for cash | $ 0 | 17,500 | 0 | 17,500 |
Common stock issued for cash, shares | 3,500 | |||
Net income (loss) | $ 0 | 0 | (31,928) | (31,928) |
Equity Balance at Jun. 30, 2020 | $ 449 | 289,765 | (218,712) | 71,502 |
Equity Balance, Shares at Jun. 30, 2020 | 4,491,918 | |||
Equity Balance at Dec. 31, 2020 | $ 450 | 331,764 | (300,546) | 31,668 |
Equity Balance, Shares at Dec. 31, 2020 | 4,500,318 | |||
Common stock issued for cash | $ 0 | 7,500 | 0 | 7,500 |
Common stock issued for cash, shares | 1,500 | |||
Net income (loss) | $ 0 | 0 | (7,870) | (7,870) |
Equity Balance at Mar. 31, 2021 | $ 450 | 339,264 | (308,416) | 31,298 |
Equity Balance, Shares at Mar. 31, 2021 | 4,501,818 | |||
Equity Balance at Dec. 31, 2020 | $ 450 | 331,764 | (300,546) | 31,668 |
Equity Balance, Shares at Dec. 31, 2020 | 4,500,318 | |||
Common stock issued for cash | $ 12,500 | |||
Common stock issued for cash, shares | 2,500 | |||
Net income (loss) | $ (28,400) | |||
Equity Balance at Jun. 30, 2021 | $ 450 | 344,264 | (328,946) | 15,768 |
Equity Balance, Shares at Jun. 30, 2021 | 4,502,818 | |||
Equity Balance at Mar. 31, 2021 | $ 450 | 339,264 | (308,416) | 31,298 |
Equity Balance, Shares at Mar. 31, 2021 | 4,501,818 | |||
Common stock issued for cash | $ 0 | 5,000 | 0 | 5,000 |
Common stock issued for cash, shares | 1,000 | |||
Net income (loss) | $ 0 | 0 | (20,530) | (20,530) |
Equity Balance at Jun. 30, 2021 | $ 450 | $ 344,264 | $ (328,946) | $ 15,768 |
Equity Balance, Shares at Jun. 30, 2021 | 4,502,818 |
CONDENSED STATEMENTS OF CASH FL
CONDENSED STATEMENTS OF CASH FLOWS - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
OPERATING ACTIVITIES | ||||||
Net income (loss) | $ (20,530) | $ (7,870) | $ (31,928) | $ (45,289) | $ (28,400) | $ (77,217) |
Changes in operating assets and liabilities: | ||||||
Increase in accrued liabilities | 15,000 | 0 | ||||
Net cash used in operating activities | (13,400) | (77,217) | ||||
INVESTING ACTIVITIES | 0 | 0 | ||||
FINANCING ACTIVITIES | ||||||
Proceeds from sale of common stock | 12,500 | 72,500 | ||||
Net cash provided by financing activities | 12,500 | 72,500 | ||||
Net cash decrease in period | (900) | (4,717) | ||||
Cash, beginning of period | $ 1,668 | $ 11,219 | 1,668 | 11,219 | ||
Cash, end of period | $ 768 | $ 6,502 | 768 | 6,502 | ||
Supplemental Cash Flow Disclosures: | ||||||
Cash paid for interest | 0 | 0 | ||||
Cash paid for income taxes | $ 0 | $ 0 |
Nature of Operations and Summar
Nature of Operations and Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2021 | |
Notes | |
Nature of Operations and Summary of Significant Accounting Policies | NOTE 1 - NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES NATURE OF OPERATIONS United Capital Consultants, Inc. (the “Company” or “UCC”) was incorporated on December 7, 2016 under the laws of the state of Delaware to engage in any lawful corporate undertaking, including, but not limited to, selected mergers and acquisitions. The Company has been in the start-up stage since inception. In April 2018, the Company implemented a change of control by issuing shares to new shareholders, redeeming shares of existing shareholders, electing new officers and directors and accepting the resignations of its then existing officers and directors. In connection with the change in control, the shareholders of the Company and its board of directors unanimously approved the change of the Company’s name from Thicket Sound Acquisition Corporation to United Capital Consultants, Inc. Pursuant to the change in control and the Form 8-K filed on August 1, 2018, the Company began to develop as a business development and management company. The Company entered into contracts with three foreign firms to specialize in supporting the development and growth of its clients through counsel, training, and other support and anticipates that it will accept clients in a variety of industries based on potential for growth and profitability. Per the Form 8-K filed on November 16, 2018, the Company entered an agreement with an additional third party to assist in providing such services. The Company has since shifted its focus to emphasize cooperation with United Utilities Authority (“UUA”), a related party (Note 4), in the renewable energy sector. The Company anticipates that it will obtain an equity position in its clients and potentially engage in business activities to create business verticals synergistic in nature to its clients’ operations. On May 7, 2019, in connection with its agreement with UUA, the Company placed a deposit towards the purchase of STEEM Inc. Co. Ltd., a Special Project Vehicle Company that owns and operates a 2 Megawatt solar farm in Thailand (see Note 4). In connection with the deposit placed on May 7, 2019, the Company has since entered into two amendments to its agreement with UUA (as reported in the Company’s Current Reports on Form 8-K filed on May 23, 2019 and July 10, 2019), granting the Company a potential equity stake in UUA in exchange for its services (which have not yet been issued and shall be conveyed upon completing the first acquisition/development of a project in UUA’s pipeline) and granting the Company the right to invest in 60 Megawatts of solar farms in UUA’s pipeline in an amount which (as required by Thai law) shall not exceed 49% of the issued and outstanding shares in any project company. The Company has identified a local attorney to structure ownership to protect voting and economic rights in the projects for investors. UUA will act as the operator of said solar assets. This development will allow the Company to further develop operations in according to its goal to engage in business activities to create business verticals synergistic in nature to its clients’ operations. On April 27, 2020, the Company entered into an agreement with Westwood Capital LLC (“Westwood”), a New York-based investment bank regulated by the United States Securities and Exchange Commission and a member of the Financial Industry Regulatory Authority. The agreement engages Westwood to raise funds for the acquisition of operating renewable energy assets in Southeast Asia, which UCC intends to manage for investors in exchange for a management fee. Pursuant to this agreement, the Company’s business model has been adjusted to focus solely on the energy sector and development, acquisition, and management of renewable energy assets for the foreseeable future. UNITED CAPITAL CONSULTANTS INC. NOTES TO CONDENSED FINANCIAL STATEMENTS For the Three and Six Months Ended June 30, 2021 and 2020 (Unaudited) BASIS OF PRESENTATION The summary of significant accounting policies presented below is designed to assist in understanding the Company’s financial statements. Such financial statements and accompanying notes are the representations of the Company’s management, who are responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America (“U.S. GAAP”) in all material respects, and have been consistently applied in preparing the accompanying financial statements. The Company chose December 31 as its fiscal year end. The accompanying unaudited financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted in accordance with such rules and regulations. The information furnished in the interim financial statements includes normal recurring adjustments and reflects all adjustments, which, in the opinion of management, are necessary for a fair presentation of such financial statements. Although management believes the disclosures and information presented are adequate to make the information not misleading, it is suggested that these interim financial statements be read in conjunction with the Company’s audited financial statements and notes thereto included in its Form 10-K for the year ended December 31, 2020. Operating results for the three and six months ended June 30, 2021 are not necessarily indicative of the results to be expected for the year ending December 31, 2021. USE OF ESTIMATES The preparation of financial statements in conformity with U.S. GAAP 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 condensed financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. CASH Cash and cash equivalents include cash on hand and on deposit at banking institutions as well as all highly liquid short-term investments with original maturities of 90 days or less. The Company had $768 in cash and $1,668 cash equivalents as of June 30, 2021 and December 31, 2020, respectively. CONCENTRATION OF RISK Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash. The Company places its cash with high quality banking institutions. The Company did not have cash balances in excess of the Federal Deposit Insurance Corporation limit as of June 30, 2021 or December 31, 2020. INCOME TAXES Under ASC 740, “Income Taxes,” deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Valuation allowances are established when it is more likely than not that some or all of the deferred tax assets will not be realized. As of June 30, 2021 and December 31, 2020, there were no deferred taxes due to the uncertainty of the realization of net operating loss or carry forward prior to expiration. UNITED CAPITAL CONSULTANTS INC. NOTES TO CONDENSED FINANCIAL STATEMENTS For the Three and Six Months Ended June 30, 2021 and 2020 (Unaudited) LOSS PER COMMON SHARE Basic loss per common share excludes dilution when anti-dilutive and is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted loss per common share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the loss of the entity. As of June 30, 2021 and December 31, 2020, there were no outstanding potentially dilutive securities. FAIR VALUE OF FINANCIAL INSTRUMENTS The Company follows guidance for accounting for fair value measurements of financial assets and financial liabilities and for fair value measurements of nonfinancial items that are recognized or disclosed at fair value in the financial statements on a recurring basis. Additionally, the Company adopted guidance for fair value measurement related to nonfinancial items that are recognized and disclosed at fair value in the financial statements on a nonrecurring basis. The guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to measurements involving significant unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows: Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability. The carrying amounts of financial assets such as cash approximate their fair values because of the short maturity of these instruments. As of June 30, 2021, and December 31, 2020, the Company does not have any such instruments. REVENUE The Company recognizes revenue from its contracts with customers in accordance with ASC 606 - Revenue from Contracts with Customers. The Company recognizes revenues when satisfying the performance obligation of the associated contract that reflects the consideration expected to be received based on the terms of the contract. Revenue related to contracts with customers is evaluated utilizing the following steps: (i) Identify the contract, or contracts, with a customer; (ii) Identify the performance obligations in the contract; (iii) Determine the transaction price; (iv) Allocate the transaction price to the performance obligations in the contract; (v) Recognize revenue when the Company satisfies a performance obligation. When the Company enters into a contract, the Company analyzes the services required to identify the required performance obligations which would indicate the Company has met and fulfilled its obligations. For the current contracts in place, the Company has identified performance obligations as agreement from both parties (implicit or explicit) that the obligations have been met. To appropriately identify the performance obligations, the Company considers all of the services required to be satisfied per the contract, whether explicitly stated or implicitly implied. The Company allocates the full transaction price to the single performance obligation being satisfied. RECENT ACCOUNTING PRONOUNCEMENTS The Company has evaluated Recent Accounting Pronouncements and has determined that all such pronouncements either do not apply or their impact is insignificant to the financial statements. |
Going Concern Disclosure
Going Concern Disclosure | 6 Months Ended |
Jun. 30, 2021 | |
Notes | |
Going Concern Disclosure | NOTE 2 - GOING CONCERN The Company has generated limited revenue since inception to date and has sustained an operating loss of $28,400 for the six months ended June 30, 2021. The Company had a negative working capital of $49,232 and an accumulated deficit of $328,946 as of June 30, 2021, and a negative working capital of $33,332 and an accumulated deficit of $300,546 as of December 31, 2020. The Company’s continuation as a going concern is dependent on its ability to generate sufficient cash flows from capital to meet its obligations and/or obtaining additional financing from its members or other sources, as may be required. The accompanying financial statements have been prepared assuming that the Company will continue as a going concern; however, the above condition raises substantial doubt about the Company’s ability to do so. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern. The Company’s management expect that COVID-19 will delay its plans for project development in Asia. In order to maintain its current level of operations, the Company will require additional working capital from either cash flow from capital or from the sale of its equity. However, the Company currently has no commitments from any third parties for the purchase of its equity. If the Company is unable to acquire additional working capital, it will be required to significantly reduce its current level of operations. |
Stockholder's Deficit Disclosur
Stockholder's Deficit Disclosure | 6 Months Ended |
Jun. 30, 2021 | |
Notes | |
Stockholder's Deficit Disclosure | NOTE 3 - STOCKHOLDERS’ DEFICIT The Company is authorized to issue 100,000,000 shares of common stock and 20,000,000 shares of preferred stock. As of June 30, 2021 and December 31, 2020, there were 4,502,818 and 4,500,318 shares of common stock issued and outstanding, respectively. As of June 30, 2021 and December 31, 2020, no shares of preferred stock were issued and outstanding. During the six months ended June 30, 2021, in Private Placements, the Company sold 2,500 shares of common stock to existing shareholders for $5 per share for total proceeds of $12,500. During the six months ended June 30, 2020, the Company sold 14,500 shares of common stock to existing shareholders for $5 per share for total proceeds of $72,500. |
Related Party Disclosure
Related Party Disclosure | 6 Months Ended |
Jun. 30, 2021 | |
Notes | |
Related Party Disclosure | NOTE 4 - RELATED PARTY TRANSACTIONS On July 18, 2018, United Capital Consultants, Inc. (the “Company”) entered into a Consultancy Agreement with United Utilities Authority, Ltd., a company based in Thailand (“UUA”), to provide management consulting services (the “UUA Agreement”). UUA is a private utility located in Thailand that emphasizes renewable energy projects. UCC has been engaged by UUA to assist in management consulting and to prepare for expansion as UUA begins projects in developing countries. In exchange for the services to be rendered to UUA, the Company will be paid management consulting and training fees as well as fees based on capital raised for the benefit of UUA. The UUA Agreement will remain in effect for a term of ten (10) years unless otherwise terminated and shall then be renewed automatically for succeeding terms of three (3) years each until terminated. The UUA Agreement may be terminated upon 90 days’ written notice by either party, immediately upon notice of material breach, immediately upon the insolvency of either party, immediately in the event of force majeure or upon completion of the services to be rendered by the Company. Clayton Patterson and Harold Patterson, the officers and directors of the Company, are also employees of UUA. On May 7, 2019, in connection with the Company’s agreement with UUA, the Company placed a $65,000 deposit towards the purchase of STEEM Inc. Co. Ltd., a Special Project Vehicle Company that owns and operates a 2 Megawatt solar farm in Thailand. In connection with the deposit placed on May 7, 2019 and pursuant to the Form 8-K filed on May 23, 2019 and subsequently on July 10, 2019, the Company has since entered into two amendments to its agreement with UUA (as reported in the Company’s Current Reports on Form 8-K filed on May 23, 2019 and July 10, 2019, respectively), granting the Company an 18% equity stake in UUA in exchange for its services (which have not yet been issued and shall be conveyed upon completing the first acquisition of a project in UUA’s pipeline), and granting the Company the right to invest in 60 Megawatts of solar farms in UUA’s pipeline in an amount which shall not exceed 49% of the issued and outstanding shares in any project company. UUA will act as the operator of said solar assets. The Company has identified a local attorney to structure ownership to protect voting and economic rights in the projects for investors. This development will allow the Company to further develop operations in according to its goal to engage in business activities to create business verticals synergistic in nature to its clients’ operations. Clayton Patterson and Harold Patterson, the officers and directors of the Company, are also employees of UUA. In January 2021, it was determined that STEEM Inc. Co. Ltd. would not be acquired and the deposit has been applied to the development of a commercial roof top solar project in UUA's pipeline. UCC will act as asset manager while UUA will manage day to day technical operations. This and other projects are currently being evaluated and undergoing due diligence and negotiations in connection with the Agreement which the Company entered into with Westwood Capital on April 27, 2020. Due to the current situation in Thailand as relating to COVID-19, these projects have been significantly delayed. |
Subsequent Events Disclosure
Subsequent Events Disclosure | 6 Months Ended |
Jun. 30, 2021 | |
Notes | |
Subsequent Events Disclosure | NOTE 5 - SUBSEQUENT EVENTS In July 2021, in Private Placements, the Company sold 1,100 shares of common stock to existing shareholders for $5 per share for total proceeds of $5,500. The Company has evaluated events occurring subsequent to the balance sheet date through the date these financial statements were issued and determined there are no additional events requiring disclosure. |
Nature of Operations and Summ_2
Nature of Operations and Summary of Significant Accounting Policies: Nature of Operations (Policies) | 6 Months Ended |
Jun. 30, 2021 | |
Policies | |
Nature of Operations | NATURE OF OPERATIONS United Capital Consultants, Inc. (the “Company” or “UCC”) was incorporated on December 7, 2016 under the laws of the state of Delaware to engage in any lawful corporate undertaking, including, but not limited to, selected mergers and acquisitions. The Company has been in the start-up stage since inception. In April 2018, the Company implemented a change of control by issuing shares to new shareholders, redeeming shares of existing shareholders, electing new officers and directors and accepting the resignations of its then existing officers and directors. In connection with the change in control, the shareholders of the Company and its board of directors unanimously approved the change of the Company’s name from Thicket Sound Acquisition Corporation to United Capital Consultants, Inc. Pursuant to the change in control and the Form 8-K filed on August 1, 2018, the Company began to develop as a business development and management company. The Company entered into contracts with three foreign firms to specialize in supporting the development and growth of its clients through counsel, training, and other support and anticipates that it will accept clients in a variety of industries based on potential for growth and profitability. Per the Form 8-K filed on November 16, 2018, the Company entered an agreement with an additional third party to assist in providing such services. The Company has since shifted its focus to emphasize cooperation with United Utilities Authority (“UUA”), a related party (Note 4), in the renewable energy sector. The Company anticipates that it will obtain an equity position in its clients and potentially engage in business activities to create business verticals synergistic in nature to its clients’ operations. On May 7, 2019, in connection with its agreement with UUA, the Company placed a deposit towards the purchase of STEEM Inc. Co. Ltd., a Special Project Vehicle Company that owns and operates a 2 Megawatt solar farm in Thailand (see Note 4). In connection with the deposit placed on May 7, 2019, the Company has since entered into two amendments to its agreement with UUA (as reported in the Company’s Current Reports on Form 8-K filed on May 23, 2019 and July 10, 2019), granting the Company a potential equity stake in UUA in exchange for its services (which have not yet been issued and shall be conveyed upon completing the first acquisition/development of a project in UUA’s pipeline) and granting the Company the right to invest in 60 Megawatts of solar farms in UUA’s pipeline in an amount which (as required by Thai law) shall not exceed 49% of the issued and outstanding shares in any project company. The Company has identified a local attorney to structure ownership to protect voting and economic rights in the projects for investors. UUA will act as the operator of said solar assets. This development will allow the Company to further develop operations in according to its goal to engage in business activities to create business verticals synergistic in nature to its clients’ operations. On April 27, 2020, the Company entered into an agreement with Westwood Capital LLC (“Westwood”), a New York-based investment bank regulated by the United States Securities and Exchange Commission and a member of the Financial Industry Regulatory Authority. The agreement engages Westwood to raise funds for the acquisition of operating renewable energy assets in Southeast Asia, which UCC intends to manage for investors in exchange for a management fee. Pursuant to this agreement, the Company’s business model has been adjusted to focus solely on the energy sector and development, acquisition, and management of renewable energy assets for the foreseeable future. |
Nature of Operations and Summ_3
Nature of Operations and Summary of Significant Accounting Policies: Basis of Accounting, Policy (Policies) | 6 Months Ended |
Jun. 30, 2021 | |
Policies | |
Basis of Accounting, Policy | BASIS OF PRESENTATION The summary of significant accounting policies presented below is designed to assist in understanding the Company’s financial statements. Such financial statements and accompanying notes are the representations of the Company’s management, who are responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America (“U.S. GAAP”) in all material respects, and have been consistently applied in preparing the accompanying financial statements. The Company chose December 31 as its fiscal year end. The accompanying unaudited financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted in accordance with such rules and regulations. The information furnished in the interim financial statements includes normal recurring adjustments and reflects all adjustments, which, in the opinion of management, are necessary for a fair presentation of such financial statements. Although management believes the disclosures and information presented are adequate to make the information not misleading, it is suggested that these interim financial statements be read in conjunction with the Company’s audited financial statements and notes thereto included in its Form 10-K for the year ended December 31, 2020. Operating results for the three and six months ended June 30, 2021 are not necessarily indicative of the results to be expected for the year ending December 31, 2021. |
Nature of Operations and Summ_4
Nature of Operations and Summary of Significant Accounting Policies: Use of Estimates, Policy (Policies) | 6 Months Ended |
Jun. 30, 2021 | |
Policies | |
Use of Estimates, Policy | USE OF ESTIMATES The preparation of financial statements in conformity with U.S. GAAP 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 condensed financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. |
Nature of Operations and Summ_5
Nature of Operations and Summary of Significant Accounting Policies: Cash, Policy (Policies) | 6 Months Ended |
Jun. 30, 2021 | |
Policies | |
Cash, Policy | CASH Cash and cash equivalents include cash on hand and on deposit at banking institutions as well as all highly liquid short-term investments with original maturities of 90 days or less. The Company had $768 in cash and $1,668 cash equivalents as of June 30, 2021 and December 31, 2020, respectively. |
Nature of Operations and Summ_6
Nature of Operations and Summary of Significant Accounting Policies: Concentration Risk, Policy (Policies) | 6 Months Ended |
Jun. 30, 2021 | |
Policies | |
Concentration Risk, Policy | CONCENTRATION OF RISK Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash. The Company places its cash with high quality banking institutions. The Company did not have cash balances in excess of the Federal Deposit Insurance Corporation limit as of June 30, 2021 or December 31, 2020. |
Nature of Operations and Summ_7
Nature of Operations and Summary of Significant Accounting Policies: Income Taxes, Policy (Policies) | 6 Months Ended |
Jun. 30, 2021 | |
Policies | |
Income Taxes, Policy | INCOME TAXES Under ASC 740, “Income Taxes,” deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Valuation allowances are established when it is more likely than not that some or all of the deferred tax assets will not be realized. As of June 30, 2021 and December 31, 2020, there were no deferred taxes due to the uncertainty of the realization of net operating loss or carry forward prior to expiration. |
Nature of Operations and Summ_8
Nature of Operations and Summary of Significant Accounting Policies: Earnings Per Share, Policy (Policies) | 6 Months Ended |
Jun. 30, 2021 | |
Policies | |
Earnings Per Share, Policy | LOSS PER COMMON SHARE Basic loss per common share excludes dilution when anti-dilutive and is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted loss per common share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the loss of the entity. As of June 30, 2021 and December 31, 2020, there were no outstanding potentially dilutive securities. |
Nature of Operations and Summ_9
Nature of Operations and Summary of Significant Accounting Policies: Fair Value of Financial Instruments, Policy (Policies) | 6 Months Ended |
Jun. 30, 2021 | |
Policies | |
Fair Value of Financial Instruments, Policy | FAIR VALUE OF FINANCIAL INSTRUMENTS The Company follows guidance for accounting for fair value measurements of financial assets and financial liabilities and for fair value measurements of nonfinancial items that are recognized or disclosed at fair value in the financial statements on a recurring basis. Additionally, the Company adopted guidance for fair value measurement related to nonfinancial items that are recognized and disclosed at fair value in the financial statements on a nonrecurring basis. The guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to measurements involving significant unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows: Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability. The carrying amounts of financial assets such as cash approximate their fair values because of the short maturity of these instruments. As of June 30, 2021, and December 31, 2020, the Company does not have any such instruments. |
Nature of Operations and Sum_10
Nature of Operations and Summary of Significant Accounting Policies: Revenue recognition policy (Policies) | 6 Months Ended |
Jun. 30, 2021 | |
Policies | |
Revenue recognition policy | REVENUE The Company recognizes revenue from its contracts with customers in accordance with ASC 606 - Revenue from Contracts with Customers. The Company recognizes revenues when satisfying the performance obligation of the associated contract that reflects the consideration expected to be received based on the terms of the contract. Revenue related to contracts with customers is evaluated utilizing the following steps: (i) Identify the contract, or contracts, with a customer; (ii) Identify the performance obligations in the contract; (iii) Determine the transaction price; (iv) Allocate the transaction price to the performance obligations in the contract; (v) Recognize revenue when the Company satisfies a performance obligation. When the Company enters into a contract, the Company analyzes the services required to identify the required performance obligations which would indicate the Company has met and fulfilled its obligations. For the current contracts in place, the Company has identified performance obligations as agreement from both parties (implicit or explicit) that the obligations have been met. To appropriately identify the performance obligations, the Company considers all of the services required to be satisfied per the contract, whether explicitly stated or implicitly implied. The Company allocates the full transaction price to the single performance obligation being satisfied. |
Nature of Operations and Sum_11
Nature of Operations and Summary of Significant Accounting Policies: New Accounting Pronouncements, Policy (Policies) | 6 Months Ended |
Jun. 30, 2021 | |
Policies | |
New Accounting Pronouncements, Policy | RECENT ACCOUNTING PRONOUNCEMENTS The Company has evaluated Recent Accounting Pronouncements and has determined that all such pronouncements either do not apply or their impact is insignificant to the financial statements. |
Nature of Operations and Sum_12
Nature of Operations and Summary of Significant Accounting Policies: Cash, Policy (Details) - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Details | ||
Cash and cash equivalents | $ 768 | $ 1,668 |
Going Concern Disclosure (Detai
Going Concern Disclosure (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2021 | Dec. 31, 2020 | |
Details | ||
Loss before income taxes | $ 28,400 | |
Working Capital | 49,232 | $ 33,332 |
Accumulated deficit | $ 328,946 | $ 300,546 |
Stockholder's Deficit Disclos_2
Stockholder's Deficit Disclosure (Details) - USD ($) | 2 Months Ended | 3 Months Ended | 6 Months Ended | |||||
Aug. 23, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Details | ||||||||
Common stock authorized | 100,000,000 | 100,000,000 | 100,000,000 | |||||
Preferred stock authorized | 20,000,000 | 20,000,000 | 20,000,000 | |||||
Common stock issued and outstanding | 4,502,818 | 4,502,818 | 4,500,318 | |||||
Stock issued for cash | 1,100 | 2,500 | 14,500 | |||||
Sale of stock, per share | $ 5 | $ 5 | $ 5 | $ 5 | ||||
Common stock issued for cash | $ 5,500 | $ 5,000 | $ 7,500 | $ 17,500 | $ 55,000 | $ 12,500 | $ 72,500 |
Related Party Disclosure (Detai
Related Party Disclosure (Details) - United Utilities Authority Agreement - USD ($) | 3 Months Ended | ||
Sep. 30, 2018 | Jun. 30, 2021 | Dec. 31, 2020 | |
Description of related party transaction | In exchange for the services to be rendered to UUA, the Company will be paid management consulting and training fees as well as fees based on capital raised for the benefit of UUA. The UUA Agreement will remain in effect for a term of ten (10) years unless otherwise terminated and shall then be renewed automatically for succeeding terms of three (3) years each until terminated. | ||
Deposit towards the purchase of a Special Project Vehicle Company | $ 65,000 | $ 65,000 |
Subsequent Events Disclosure (D
Subsequent Events Disclosure (Details) - USD ($) | 2 Months Ended | 3 Months Ended | 6 Months Ended | |||||
Aug. 23, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Details | ||||||||
Stock issued for cash | 1,100 | 2,500 | 14,500 | |||||
Sale of stock, per share | $ 5 | $ 5 | $ 5 | $ 5 | ||||
Common stock issued for cash | $ 5,500 | $ 5,000 | $ 7,500 | $ 17,500 | $ 55,000 | $ 12,500 | $ 72,500 |