Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2019 | May 01, 2019 | |
Document And Entity Information | ||
Entity Registrant Name | QUANTUM BUSINESS STRATEGIES, INC. | |
Entity Central Index Key | 0001697730 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Entity Current Reporting Status | Yes | |
Document Period End Date | Mar. 31, 2019 | |
Entity Filer Category | Non-accelerated Filer | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2019 | |
Entity Ex Transition Period | false | |
Entity Common Stock Shares Outstanding | 28,009,000 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Mar. 31, 2019 | Dec. 31, 2018 |
Current assets | ||
Cash | $ 23,708 | $ 20,741 |
Other receivable | ||
Total current assets | 23,708 | 20,741 |
Fixed Assets | ||
Capital Lease Asset - Software Platform | 2,200,000 | 2,200,000 |
Total other assets | 2,200,000 | 2,200,000 |
Total assets | 2,223,708 | 2,220,741 |
Current liabilities | ||
Accounts payable and accrued expenses | 49,104 | 47,371 |
Loan Payable | 60,794 | 41,594 |
Total currents liabilities | 109,898 | 88,965 |
Long-term Liabilities | ||
Convertible Notes Payable | 2,175,000 | 2,175,000 |
Total Long-term Liabilities | 2,175,000 | 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 March 31, 2019 and December 31, 2018 respectively. | 28,009 | 28,009 |
Additional paid-in capital | 22,581 | 22,581 |
Accumulated deficit | (111,781) | (93,814) |
Stockholders' equity | (61,191) | (43,224) |
Total liabilities and stockholders' equity | $ 2,223,708 | $ 2,220,741 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Mar. 31, 2019 | Dec. 31, 2018 |
Stockholders' equity | ||
Common stock, shares par value | $ .001 | $ .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 Statement Of Opera
Consolidated Statement Of Operations (unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Consolidated Statement Of Operations (unaudited) | ||
Sales | ||
Cost of Sales | ||
Gross Profit | ||
Operating expenses | ||
Consulting fees | ||
General and administrative | 17,741 | 8,475 |
Total operating expenses | 17,741 | 8,475 |
Income from operations | (17,741) | (8,475) |
Other (expenses) income | ||
Net loss before provision for income taxes | (17,741) | (8,475) |
Net loss | $ (17,741) | $ (8,475) |
Net loss per common share- basic and diluted | ||
Weighted average number of common shares outstanding- basic and diluted | 28,009,000 | 28,009,000 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows (unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (17,741) | $ (8,475) |
Adjustments to reconcile net loss to net cash utilized in operating activities | ||
Change in accounts receivable | ||
Change in accounts payable and accrued expenses | 1,508 | 7,114 |
Change in prepaid deposit | ||
Change in other receivable | ||
Change in loan payable | 19,200 | 1,430 |
Net cash used in operating activities | 2,967 | 70 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Net cash used in investing activities | ||
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net cash provided by financing activities | ||
CHANGE IN CASH AND CASH EQUIVALENTS | ||
Net decrease in cash and cash equivalents | 2,967 | 70 |
Cash and cash equivalents at beginning of year | 20,741 | 1 |
Cash and cash equivalents at end of Period | 23,708 | |
NON-CASH SUPPLEMENTARY DISCLOSURES | ||
Cash paid for interest | ||
Cash paid for income taxes |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2019 | |
Summary of Significant Accounting Policies | |
(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, 2019. Going Concern - As of March 31, 2019, the Company had no revenue. 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 three months ended March 31, 2019, 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 | 3 Months Ended |
Mar. 31, 2019 | |
Common Stock | |
(2) Common Stock | During the current period ending March 31, 2019, 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. 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’s 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 | 3 Months Ended |
Mar. 31, 2019 | |
Related Party Transactions | |
(3) Related Party Transactions | No related party transactions occurred during the current period ending March 31, 2019. |
Subsequent Events
Subsequent Events | 3 Months Ended |
Mar. 31, 2019 | |
Subsequent Events | |
(4) Subsequent Events | None |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2019 | |
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, 2018, 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, 2019. |
Going Concern | The Company's unaudited financial statements for the period ended March 31, 2019, 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. As of March 31, 2019, the Company had no revenue. 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 three months ended March 31, 2019, 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. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details Narrative) | 3 Months Ended |
Mar. 31, 2019 | |
Summary of Significant Accounting Policies | |
Date of Incorporation | Dec. 21, 2016 |
State of Incorporation | Nevada |
Common Stock (Details Narrative
Common Stock (Details Narrative) - USD ($) | Mar. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2016 |
Common Stock (Details Narrative) | |||
Common stock, shares par value | $ 0.001 | ||
Common stock, shares authorized | 500,000,000 | 500,000,000 | |
Common stock, shares issued | 28,009,000 | 28,009,000 | 23,000,000 |
Common stock, shares outstanding | 28,009,000 | 28,009,000 | |
Preferred stock, shares authorized | 50,000 | ||
Common stock sold, amount | $ 23,000 | ||
Common stock, price per share | $ 0.001 |