Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2018 | Feb. 19, 2019 | |
Document And Entity Information | ||
Entity Registrant Name | Quantum Business Strategies, Inc. | |
Entity Central Index Key | 1,697,730 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2018 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Is Entity's Reporting Status Current? | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Common Stock, Shares Outstanding | 28,009,000 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2,018 | |
Entity Emerging Growth Company | true | |
Entity Small Business | true | |
Entity Ex Transition Period | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Current assets: | ||
Cash | $ 26,433 | $ 1 |
Prepaid deposits | 19,800 | |
Accounts receivable | 15,000 | |
Other receivable | ||
Total current assets | 26,433 | 34,801 |
Fixed Assets | ||
Capital Lease Asset - Software Platform | 2,200,000 | |
Total other assets | 2,200,000 | |
Total assets | 2,226,433 | 34,801 |
Current liabilities: | ||
Accounts payable and accrued expenses | 18,775 | 1,380 |
Loan Payable | 32,860 | |
Total current liabilities | 51,635 | 1,380 |
Long-term liabilities: | ||
Convertible Note Payable | 2,175,000 | |
Total long-term liabilities | 2,175,000 | |
Commitments and contingencies | ||
Stockholders' equity: | ||
Common stock, $.001 par value, 500,000,000 shares authorized, 28,009,000 issued and outstanding as of September 30, 2018 and December 31, 2017 respectively. | 28,009 | 28,009 |
Additional paid-in capital | 22,581 | 22,581 |
Accumulated deficit | (50,792) | (17,169) |
Stockholders' equity | (202) | 33,421 |
Total liabilities and stockholders' equity | $ 2,226,433 | $ 34,801 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 2018 | Dec. 31, 2017 |
Stockholders' equity: | ||
Common Stock, Par Value | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 500,000,000 | 500,000,000 |
Common Stock, Shares Issued | 28,009,000 | 28,009,000 |
Common Stock, Shares Outstanding | 28,009,000 | 28,009,000 |
Consolidated Statements of Oper
Consolidated Statements of Operations (unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Consolidated Statements Of Operations | ||||
Sales | $ 6,000 | $ 15,000 | ||
Cost of Sales | 2,400 | 6,000 | ||
Gross Profit | 3,600 | 9,000 | ||
Operating expenses: | ||||
Consulting fees | 9,411 | 3,000 | 21,674 | 18,786 |
General and administrative | 5,733 | 53 | 11,949 | 295 |
Total operating expenses | 15,144 | 3,053 | 33,623 | 19,081 |
Income from operations | (15,144) | 547 | (33,623) | (10,081) |
Other (expenses)/ income | ||||
Net loss before provision for income taxes | (15,144) | 547 | (33,623) | (10,081) |
Provision for income taxes | ||||
Net loss | $ (15,144) | $ 547 | $ (33,623) | $ (10,081) |
Net loss per common share - basic and diluted | ||||
Weighted average number of common shares outstanding - basic and diluted | 28,009,000 | 28,009,000 | 28,009,000 | 28,009,000 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows (unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (33,623) | $ (10,081) |
Adjustments to reconcile net loss to net cash utilized in operating activities | ||
Change in accounts receivable | 15,000 | (15,000) |
Change in accounts payable and accrued expenses | 50,255 | 1,340 |
Change in prepaid deposits | 19,800 | (19,800) |
Change in other receivable | (1,100) | |
Net cash used in operating activities | 51,432 | (44,641) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Capital Lease Asset - Software Platform | (2,200,000) | |
Net cash used in investing activities | (2,200,000) | |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Liabilities - Convertible Note Payable | 2,175,000 | |
Net cash provided by financing activities | 2,175,000 | |
CHANGE IN CASH AND CASH EQUIVALENTS: | ||
Net decrease in cash and cash equivalents | 26,432 | (44,641) |
Cash and cash equivalents at beginning of year | 1 | 44,662 |
Cash and cash equivalents at end of Period | 26,433 | 21 |
NON-CASH SUPPLEMENTARY DISCLOSURES: | ||
Cash paid for interest | ||
Cash paid for income taxes |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Note 1 - Summary of Significant Accounting Policies | Business Description- Quantum Business Strategies, Inc. continues to solicit new clients for consulting services. Quantum is involved in overseeing the development of AZT Systems and on September 18, 2018 closed the purchase of AZT Systems which will be operated by Quantum’s wholly owned subsidiary AZT Systems Inc (a Nevada Corporation). Quantum has retained Holly Roseberry and Frank Ziegler to oversee the software development, locate expert consultants to assist with funding and launching AZT Systems. The software development staff and operations are based out of Ahmedabad India. Condensed Interim Financial Statements- The Company’s significant accounting principles were presented as Note 2 to the Financial Statements in the Form 10-K report these statements should be read along with that report. In the opinion of management, all adjustments necessary for a fair presentation have been included in the accompanying condensed financial statements and consist of only normal recurring adjustments. The results of operations presented in the accompanying condensed financial statements are not necessarily indicative of the results that may be expected for the full year ending December 31, 2018. Going Concern - Management recognizes that the Company’s continued existence is dependent upon its ability to obtain needed working capital through additional equity or debt financing and revenue to cover expenses as the Company will continue to incur losses. Since its incorporation, the Company financed its operations almost exclusively through advances from its controlling shareholders. The Company expects to fund operations through the sale of equity or other investments for the foreseeable future, as the Company does not receive significant revenue from its business operations. There is no guarantee that the Company will be successful in arranging to finance on acceptable terms. The Company's ability to raise additional capital is affected by trends and uncertainties beyond its control. The Company does not currently have any arrangements for financing, and it may not be able to find such funding if required. Obtaining additional financing would be subject to some factors, including investor sentiment. Market factors may make the timing, amount, terms or conditions of additional funding unavailable to it. These uncertainties raise substantial doubt about the ability of the Company to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of these uncertainties. The Company’s other significant accounting policies are summarized in Note 2 of the Company’s Annual Report on Form 10K. There were no significant changes to these accounting policies during the nine months ended September 30, 2018, except for the revenue recognition policy in the following paragraph and the Company does not expect that the adoption of other recent accounting pronouncements will have a material impact on its financial statements. Capital Lease Purchase - Revenues - |
Common Stock
Common Stock | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Note 2 - Common Stock | During the current period ending September 30, 2018, no common stock transactions occurred. The Company has 500,000,000 shares of common shares authorized at a par value of $.001 and 50,000 shares of preferred shares authorized at a par value of $.01. For the year-end December 31, 2017, the initial subscriptions resulted in 28,009,000 shares of common stock issued and outstanding. During the period ended December 31, 2016 an entity controlled by the Company’ former Chief Executive Officer and Director who resigned in November of 2017 purchased 23,000,000 shares of common stock at $0.001 per share for $23,000. |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Note 3 - Related Party Transactions | No related party transactions occurred during the current period ending September 30, 2018. |
Subsequent Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Note 4 - Subsequent Events | On September 10, 2018, Artin Consulting Inc. filed Articles of Amendment with the Nevada Secretary of State to change the name from Artin Consulting Inc. to “Quantum Business Strategies, Inc.”. The same amendment submitted to Secretary of State, (an Amendment After Issuance of Stock) documented the approval to issue 50,000 Preferred shares at $.01 par value for Quantum Business Strategies Inc. On September 18, 2018, we entered into an asset purchase agreement with A & S Holdings, Inc. to purchase a restaurant point-of-sale software suite that manages customer payments, reservations, orders, reviews, and entertainment, which is known as the "AZT System," (the "Software"). The total payment for the Software was $25,000 in cash at closing, and the issuance of our convertible note in the principal amount for $2,175,000, to A & S Holdings, due September 18, 2021. A&S may, at any time from the date of this Note until the date that Quantum pays the entire amount of Principal to A&S, at its sole option, from time to time convert a portion, or all, of the Principal amount outstanding into shares of common stock in the capital of Quantum (the "Shares"). Each $0.02 of Principal outstanding at the time of conversion may be converted into one Share. We plan to further develop and initiate marketing of the Software to restaurants as well as other food services businesses. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2018 | |
Summary Of Significant Accounting Policies | |
Business Description | Quantum Business Strategies, Inc. (the “Company”), formerly Artin Consulting Inc., was incorporated in the State of Nevada on December 21, 2016. On September 10, 2018, the company filed an amendment to its certificate of incorporation in the State of Nevada to change the Company name. Quantum Business Strategies, Inc. continues to solicit new clients for consulting services. Quantum is involved in overseeing the development of AZT Systems and on September 18, 2018 closed the purchase of AZT Systems which will be operated by Quantum’s wholly owned subsidiary AZT Systems Inc (a Nevada Corporation). Quantum has retained Holly Roseberry and Frank Ziegler to oversee the software development, locate expert consultants to assist with funding and launching AZT Systems. The software development staff and operations are based out of Ahmedabad India. |
Condensed Interim Financial Statements | The accompanying are the unaudited condensed financial statements of the Company. These financial statements and notes should be read in conjunction with the most recent financial statements of the Company for the year ended December 31, 2017, included in the Company’s Form 10-K filed with the Securities and Exchange Commission. These financial statements are condensed and, therefore, do not include all disclosures normally required by U.S. generally accepted accounting principles (“U.S. GAAP”). The Company’s significant accounting principles were presented as Note 2 to the Financial Statements in the Form 10-K report these statements should be read along with that report. In the opinion of management, all adjustments necessary for a fair presentation have been included in the accompanying condensed financial statements and consist of only normal recurring adjustments. The results of operations presented in the accompanying condensed financial statements are not necessarily indicative of the results that may be expected for the full year ending December 31, 2018. |
Going Concern | The Company’s unaudited financial statements for the period ended September 30, 2018, have been prepared on a going concern basis which contemplates the realization of assets and settlement of liabilities and commitments in the ordinary course of business. Management recognizes that the Company’s continued existence is dependent upon its ability to obtain needed working capital through additional equity or debt financing and revenue to cover expenses as the Company will continue to incur losses. Since its incorporation, the Company financed its operations almost exclusively through advances from its controlling shareholders. The Company expects to fund operations through the sale of equity or other investments for the foreseeable future, as the Company does not receive significant revenue from its business operations. There is no guarantee that the Company will be successful in arranging to finance on acceptable terms. The Company's ability to raise additional capital is affected by trends and uncertainties beyond its control. The Company does not currently have any arrangements for financing, and it may not be able to find such funding if required. Obtaining additional financing would be subject to some factors, including investor sentiment. Market factors may make the timing, amount, terms or conditions of additional funding unavailable to it. These uncertainties raise substantial doubt about the ability of the Company to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of these uncertainties. The Company’s other significant accounting policies are summarized in Note 2 of the Company’s Annual Report on Form 10K. There were no significant changes to these accounting policies during the nine months ended September 30, 2018, except for the revenue recognition policy in the following paragraph and the Company does not expect that the adoption of other recent accounting pronouncements will have a material impact on its financial statements. |
Capital Lease Purchase | The Company recognizes the purchase of AZT Systems will be treated as a business combination after ownership of the asset transfer. |
Revenues | The Company recognizes revenue when persuasive evidence of an arrangement exists, services have been provided, the price to the buyer is fixed or determinable, and collectability is reasonably assured. Revenue from the sale of services, like business plans are recorded at the time of delivery to the client, income for consulting services are recognized after the service has been rendered. |
Organization of Business and Na
Organization of Business and Nature of Operations (Details Narrative) | 9 Months Ended |
Sep. 30, 2018 | |
Organization Of Business And Nature Of Operations | |
State of incorporation | Nevada |
Date of incorporation | Dec. 21, 2016 |
Common Stock (Details Narrative
Common Stock (Details Narrative) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Sep. 30, 2018 | Dec. 31, 2017 | |
Common Stock, Par Value | $ 0.001 | $ 0.001 | |
Common Stock, Shares Authorized | 500,000,000 | 500,000,000 | |
Common Stock, Shares Issued | 28,009,000 | 28,009,000 | |
Common Stock, Shares Outstanding | 28,009,000 | 28,009,000 | |
Preferred Stock, Par Value | $ 0.01 | $ 0.01 | |
Preferred Stock, Shares Authorized | 50,000 | 50,000 | |
Chief Executive Officer and Director [Member] | |||
Common Stock, Par Value | $ 0.001 | ||
Common stock issued to former officer and director for cash, Shares | 23,000,000 | ||
Common stock issued to former officer and director for cash, Amount | $ 23,000 |
Subsequent Events (Details Narr
Subsequent Events (Details Narrative) - USD ($) | 1 Months Ended | |||
Sep. 18, 2018 | Sep. 30, 2018 | Sep. 10, 2018 | Dec. 31, 2017 | |
Preferred Stock, Shares Authorized | 50,000 | 50,000 | ||
Preferred Stock, Par Value | $ 0.01 | $ 0.01 | ||
Subsequent Event [Member] | A & S Holding [Member] | ||||
Payment for Software | $ 25,000 | |||
Convertible debt, principal amount | $ 2,175,000 | |||
Convertible debt, due date | Sep. 18, 2021 | |||
Convertible debt conversion price description | Each $0.02 of Principal outstanding at the time of conversion may be converted into one Share. | |||
Subsequent Event [Member] | Quantum Business Strategies Inc [Member] | ||||
Preferred Stock, Shares Authorized | 50,000 | |||
Preferred Stock, Par Value | $ 0.01 |