Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Feb. 28, 2019 | Apr. 15, 2019 | |
Document And Entity Information [Abstract] | ||
Entity Registrant Name | ASSISTED 4 LIVING, INC. | |
Entity Central Index Key | 0001719435 | |
Current Fiscal Year End Date | --11-30 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Common Stock, Shares Outstanding | 14,150,000 | |
Document Type | 10-Q | |
Document Period End Date | Feb. 28, 2019 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | FY | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Feb. 28, 2019 | Nov. 30, 2018 |
Current Assets | ||
Cash and cash equivalents | $ 36,078 | $ 21,019 |
Total Current Assets | 36,078 | 21,019 |
TOTAL ASSETS | 36,078 | 21,019 |
Current Liabilities | ||
Accounts payable | 5,407 | 2,881 |
Total Current Liabilities | 5,407 | 2,881 |
Total Liabilities | 5,407 | 2,881 |
Stockholders' Equity | ||
Preferred stock: 25,000,000 shares authorized; $0.0001 par value no shares issued and outstanding | ||
Common stock: 100,000,000 shares authorized; $0.0001 par value 14,150,000 and 13,050,000 shares issued and outstanding, respectively | 1,415 | 1,305 |
Additional paid in capital | 71,085 | 49,195 |
Accumulated deficit | (41,829) | (32,362) |
Total Stockholders' Equity | 30,671 | 18,138 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 36,078 | $ 21,019 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Feb. 28, 2019 | Nov. 30, 2018 |
Statement of Financial Position [Abstract] | ||
Preferred stock, shares authorized | 25,000,000 | 25,000,000 |
Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares issued | 14,150,000 | 13,050,000 |
Common stock, shares outstanding | 14,150,000 | 13,050,000 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Feb. 28, 2019 | Feb. 28, 2018 | |
Income Statement [Abstract] | ||
Revenue | $ 4,500 | $ 5,200 |
Operating Expenses: | ||
General and administrative | 5,352 | 4,575 |
Professional fees | 8,615 | 5,238 |
Total operating expenses | 13,967 | 9,813 |
Operating Loss | (9,467) | (4,613) |
Provision for income tax | 0 | 0 |
Net Loss | $ (9,467) | $ (4,613) |
Basic and Diluted Loss per Common Share (in dollars per share) | $ 0 | $ 0 |
Basic and Diluted Weighted Average Common Shares Outstanding (in shares) | 13,536,667 | 10,000,000 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) | Preferred Stock | Common Stock | Additional Paid in Capital | Accumulated Deficit | Total |
Balance at Nov. 30, 2017 | $ 0 | $ 1,000 | $ 19,000 | $ (5,397) | $ 14,603 |
Balance (in shares) at Nov. 30, 2017 | 10,000,000 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net loss for the period | (4,613) | (4,613) | |||
Balance at Feb. 28, 2018 | 0 | $ 1,000 | 19,000 | (10,010) | 9,990 |
Balance (in shares) at Feb. 28, 2018 | 10,000,000 | ||||
Balance at Nov. 30, 2018 | $ 0 | $ 1,305 | 49,195 | (32,362) | $ 18,138 |
Balance (in shares) at Nov. 30, 2018 | 13,050,000 | 13,050,000 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Issuance of common shares at $0.02 per share | $ 110 | 21,890 | $ 22,000 | ||
Issuance of common shares at $0.02 per share (in shares) | 1,100,000 | 1,100,000 | |||
Net loss for the period | (9,467) | $ (9,467) | |||
Balance at Feb. 28, 2019 | $ 1,415 | $ 71,085 | $ (41,829) | $ 30,671 | |
Balance (in shares) at Feb. 28, 2019 | 0 | 14,150,000 | 14,150,000 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parentheticals) | Feb. 28, 2019$ / shares |
Statement of Stockholders' Equity [Abstract] | |
Common shares per share (in dollars per share) | $ 0.02 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Feb. 28, 2019 | Feb. 28, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (9,467) | $ (4,613) |
Changes in current assets and liabilities: | ||
Prepaid expenses | 640 | |
Accounts payable and due to related parties | 2,526 | |
Due to related parties | (950) | |
Net Cash Used in Operating Activities | (6,941) | (4,923) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Issuance of common stock | 22,000 | |
Net Cash Provided by Financing Activities | 22,000 | |
Net change in cash for the period | 15,059 | (4,923) |
Cash at beginning of period | 21,019 | 11,737 |
Cash at end of period | 36,078 | 6,814 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Cash paid for income taxes | 0 | 0 |
Cash paid for interest | $ 0 | $ 0 |
ORGANIZATION, DESCRIPTION OF BU
ORGANIZATION, DESCRIPTION OF BUSINESS AND GOING CONCERN | 3 Months Ended |
Feb. 28, 2019 | |
Organization, Description Of Business And Going Concern [Abstract] | |
ORGANIZATION, DESCRIPTION OF BUSINESS AND GOING CONCERN | NOTE 1 – ORGANIZATION, DESCRIPTION OF BUSINESS AND GOING CONCERN Assisted 4 Living, Inc., (“Assisted 4 Living”, “the Company”, “we” or “us”) was incorporated in the state of Nevada on May 24, 2017. It is based in North Port, Florida. The Company incorporated a wholly-owned subsidiary, “Assisted 2 Live, Inc.” in the state of Florida on June 15, 2017. The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America, and the Company's fiscal year end is November 30. The Company operates as an assisted living consulting company that specializes in acquiring, licensing, staffing, and operating assisted living facilities (“ALF”). The Company offers clients that wish to enter the ALF field an opportunity to purchase and run its own center(s), and will also act as a referral agent finding and placing clients that are in search of quality residential care. The Company will also offer a la carte consulting services such as submitting license applications, developing emergency plans, as well as other regulatory and compliance needs. To date, the Company's activities have been limited to starting its operations, constructing of its website, as well as developing initial business contacts and services. Going Concern The accompanying unaudited consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. As of February 28, 2019, the Company has an accumulated deficit and has earned minimal revenues during the three months ended February 28, 2019. The ability of the Company to obtain profitability is dependent upon, among other things, obtaining additional financing to continue operations, and development of its business plan. In response to these problems, management intends to raise additional operating funds through equity and/or debt offerings. However, there can be no assurance management will be successful in its endeavors. There are no assurances that the Company will be able to either (1) achieve a level of revenues adequate to generate sufficient cash flow from operations; or (2) obtain additional financing through either private placement, public offerings and/or bank financing necessary to support its working capital requirements. To the extent that funds generated from operations and any private placements, public offerings and/or bank financing are insufficient, the Company will have to raise additional working capital. No assurance can be given that additional financing will be available, or if available, will be on terms acceptable to the Company. If adequate working capital is not available to the Company, it may be required to curtail or cease its operations. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. The accompanying consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended |
Feb. 28, 2019 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial statements and with the instructions to Form 10-Q and Regulation S-X of the United States Securities and Exchange Commission (“SEC”). Accordingly, they do not contain all information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements. In the opinion of the Company’s management, the accompanying unaudited interim consolidated financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as of February 28, 2019 and the results of operations and cash flows for the periods presented. The results of operations for the three months ended February 28, 2019 are not necessarily indicative of the operating results for the full fiscal year or any future period. These unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended November 30, 2018 filed with the SEC on February 28, 2019. Basis of Consolidation These consolidated financial statements include the accounts of the Company and the wholly-owned subsidiary, Assisted 2 Live, Inc. All material intercompany balances and transactions have been eliminated. Use of Estimates and Assumptions The preparation of financial statements in conformity with 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 financial statements. The estimates and judgments will also affect the reported amounts for certain revenues and expenses during the reporting period. Actual results could differ from these good faith estimates and judgments. Revenue recognition Effective January 1, 2018, the Company adopted ASC 606, “Revenue from Contracts with Customers.” · identify the contract with a customer; · identify the performance obligations in the contract; · determine the transaction price; · allocate the transaction price to performance obligations in the contract; and · recognize revenue as the performance obligation is satisfied. Concentrations During the period ended February 28, 2019, revenue was comprised of one labor contract from an unrelated party, that leases and operates its assisted living facility from our CEO. That customer represented 100% of the revenues of the Company for the period ended February 28, 2019. Recent Accounting Pronouncements The Company has reviewed all other recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on our financial statements. |
EQUITY
EQUITY | 3 Months Ended |
Feb. 28, 2019 | |
Equity [Abstract] | |
EQUITY | NOTE 3 - EQUITY Preferred Stock The Company has authorized 25,000,000 preferred shares with a par value of $0.0001 per share. The Board of Directors are authorized to divide the authorized shares of Preferred Stock into one or more series, each of which shall be so designated as to distinguish the shares thereof from the shares of all other series and classes. As of February 28, 2019 and November 30, 2018, the Company had no classes of preferred shares designated. Common Stock The Company has authorized 100,000,000 common shares with a par value of $0.0001 per share. Each common share entitles the holder to one vote, in person or proxy, on any matter on which action of the stockholders of the corporation is sought. During the three months ended February 28, 2019, the Company issued to ten (10) unaffiliated investors 1,100,000 shares of common stock for $22,000. As of February 28, 2019 and November 30, 2018, the Company had 14,150,000 and 13,050,000 common shares issued and outstanding, respectively. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 3 Months Ended |
Feb. 28, 2019 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 4 - RELATED PARTY TRANSACTIONS The Company does not own or lease property or lease office space. The office space used by the Company was arranged by the founder of the Company to use at no charge. The Company does not have employment contracts with its sole key employee, the controlling shareholder, who is an officer and director of the Company. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 3 Months Ended |
Feb. 28, 2019 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 5 – SUBSEQUENT EVENTS Subsequent to February 28, 2019, and through the date these financial statements were issued, the Company had the following subsequent events: On February 27, 2019, the Company entered into the commercial real estate lease agreement. The Company leases the premises at $132,252 yearly with 4-year term, from March 1, 2019 to February 28, 2023. The Company has the option to buy the Premises ("Option") for $860,000. The term of the Option shall commence on March 1, 2019 and shall terminate 60 days thereafter at the expiration of the lease Term ("Option Period"). The Company may exercise the Option granted herein solely, exclusively and at any time during the Option Period. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 3 Months Ended |
Feb. 28, 2019 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial statements and with the instructions to Form 10-Q and Regulation S-X of the United States Securities and Exchange Commission (“SEC”). Accordingly, they do not contain all information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements. In the opinion of the Company’s management, the accompanying unaudited interim consolidated financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as of February 28, 2019 and the results of operations and cash flows for the periods presented. The results of operations for the three months ended February 28, 2019 are not necessarily indicative of the operating results for the full fiscal year or any future period. These unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended November 30, 2018 filed with the SEC on February 28, 2019. |
Basis of Consolidation | Basis of Consolidation These consolidated financial statements include the accounts of the Company and the wholly-owned subsidiary, Assisted 2 Live, Inc. All material intercompany balances and transactions have been eliminated. |
Use of Estimates and Assumptions | Use of Estimates and Assumptions The preparation of financial statements in conformity with 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 financial statements. The estimates and judgments will also affect the reported amounts for certain revenues and expenses during the reporting period. Actual results could differ from these good faith estimates and judgments. |
Revenue recognition | Revenue recognition Effective January 1, 2018, the Company adopted ASC 606, “Revenue from Contracts with Customers.” · identify the contract with a customer; · identify the performance obligations in the contract; · determine the transaction price; · allocate the transaction price to performance obligations in the contract; and · recognize revenue as the performance obligation is satisfied. |
Concentrations | Concentrations During the period ended February 28, 2019, revenue was comprised of one labor contract from an unrelated party, that leases and operates its assisted living facility from our CEO. That customer represented 100% of the revenues of the Company for the period ended February 28, 2019. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements The Company has reviewed all other recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on our financial statements. |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Detail Textuals) | 3 Months Ended |
Feb. 28, 2019Contract | |
Accounting Policies [Abstract] | |
Number of labor contract to unrelated third party | 1 |
Percentage of revenues from one customer | 100.00% |
EQUITY (Detail Textuals)
EQUITY (Detail Textuals) | 3 Months Ended | |
Feb. 28, 2019USD ($)Investor$ / sharesshares | Nov. 30, 2018$ / sharesshares | |
Equity [Line Items] | ||
Preferred stock, shares authorized | 25,000,000 | 25,000,000 |
Preferred stock, par value (in dollars per share) | $ / shares | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, par value (in dollars per share) | $ / shares | $ 0.0001 | $ 0.0001 |
Each common share entitles holder voting rights | one vote | |
Number of unaffiliated investors | Investor | 10 | |
Number of common shares issued to unaffiliated investors | 1,100,000 | |
Value of common shares issued to unaffiliated investors | $ | $ 22,000 | |
Common stock, shares issued | 14,150,000 | 13,050,000 |
Common stock, shares outstanding | 14,150,000 | 13,050,000 |
SUBSEQUENT EVENTS (Detail Textu
SUBSEQUENT EVENTS (Detail Textuals) - Subsequent event - Commercial real estate lease agreement | Mar. 01, 2019USD ($) |
Subsequent Event [Line Items] | |
Amount of leases for premises | $ 132,252 |
Term of leases | 4 years |
Option to buy premises | $ 860,000 |
Termination term of option to buy premises | 60 days |