Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
May 31, 2019 | Jul. 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 | May 31, 2019 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q2 | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Ex Transition Period | false | |
Entity Current Reporting Status | Yes | |
Entity Shell Company | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | May 31, 2019 | Nov. 30, 2018 |
Current Assets | ||
Cash and cash equivalents | $ 12,094 | $ 21,019 |
Prepaid expenses | 5,556 | |
Total Current Assets | 17,650 | 21,019 |
TOTAL ASSETS | 17,650 | 21,019 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 27,717 | 2,881 |
Due to related parties | 5,556 | |
Total Current Liabilities | 33,273 | 2,881 |
Total Liabilities | 33,273 | 2,881 |
Stockholders' Equity (Deficit) | ||
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 | (88,123) | (32,362) |
Total Stockholders' Equity (Deficit) | (15,623) | 18,138 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | $ 17,650 | $ 21,019 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | May 31, 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 | 6 Months Ended | ||
May 31, 2019 | May 31, 2018 | May 31, 2019 | May 31, 2018 | |
Income Statement [Abstract] | ||||
Revenue | $ 97,576 | $ 4,500 | $ 102,076 | $ 9,700 |
Cost of service | (62,445) | (62,445) | ||
Gross Profit | 35,131 | 4,500 | 39,631 | 9,700 |
Operating Expenses: | ||||
General and administrative | 58,289 | 4,826 | 63,641 | 9,401 |
Professional fees | 22,887 | 2,314 | 31,502 | 7,552 |
Total operating expenses | 81,176 | 7,140 | 95,143 | 16,953 |
Operating Loss | (46,045) | (2,640) | (55,512) | (7,253) |
Other income (expense) | ||||
Interest expense | (249) | (249) | ||
Total other expenses | (249) | (249) | ||
Net loss before income taxes | (46,294) | (2,640) | (55,761) | (7,253) |
Provision for income tax | 0 | 0 | 0 | 0 |
Net Loss | $ (46,294) | $ (2,640) | $ (55,761) | $ (7,253) |
Basic and Diluted Loss per Common Share (in dollars per share) | $ 0 | $ 0 | $ 0 | $ 0 |
Basic and Diluted Weighted Average Common Shares Outstanding (in shares) | 14,150,000 | 10,025,000 | 13,846,703 | 10,012,568 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity (Deficit) (Unaudited) - USD ($) | Preferred Stock | Common Stock | Additional Paid in Capital | Accumulated Deficit | Total |
Balance at Nov. 30, 2017 | $ 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, 2017 | $ 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 | (7,253) | ||||
Balance at May. 31, 2018 | 0 | $ 1,230 | 41,770 | (12,650) | 30,350 |
Balance (in shares) at May. 31, 2018 | 12,300,000 | ||||
Balance at Feb. 28, 2018 | 0 | $ 1,000 | 19,000 | (10,010) | 9,990 |
Balance (in shares) at Feb. 28, 2018 | 10,000,000 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Common shares issued for cash | $ 230 | 22,770 | 23,000 | ||
Common shares issued for cash (shares) | 2,300,000 | ||||
Net loss for the period | (2,640) | (2,640) | |||
Balance at May. 31, 2018 | 0 | $ 1,230 | 41,770 | (12,650) | 30,350 |
Balance (in shares) at May. 31, 2018 | 12,300,000 | ||||
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 | ||||
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 | |||
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 | $ 22,000 | ||||
Issuance of common shares at $0.02 per share (in shares) | 1,100,000 | ||||
Net loss for the period | $ (55,761) | ||||
Balance at May. 31, 2019 | $ 1,415 | 71,085 | (88,123) | $ (15,623) | |
Balance (in shares) at May. 31, 2019 | 14,150,000 | 14,150,000 | |||
Balance at Feb. 28, 2019 | $ 1,415 | 71,085 | (41,829) | $ 30,671 | |
Balance (in shares) at Feb. 28, 2019 | 0 | 14,150,000 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net loss for the period | (46,294) | (46,294) | |||
Balance at May. 31, 2019 | $ 1,415 | $ 71,085 | $ (88,123) | $ (15,623) | |
Balance (in shares) at May. 31, 2019 | 14,150,000 | 14,150,000 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Stockholders' Equity (Deficit) (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 ($) | 6 Months Ended | |
May 31, 2019 | May 31, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (55,761) | $ (7,253) |
Changes in current assets and liabilities: | ||
Prepaid expenses | (5,556) | 1,050 |
Accounts payable | 24,836 | 1,565 |
Due to related parties | 5,556 | |
Net Cash Used in Operating Activities | (30,925) | (4,638) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Issuance of common stock | 22,000 | 23,000 |
Net Cash Provided by Financing Activities | 22,000 | 23,000 |
Net change in cash for the period | (8,925) | 18,362 |
Cash at beginning of period | 21,019 | 11,737 |
Cash at end of period | 12,094 | 30,099 |
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 | 6 Months Ended |
May 31, 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. The Company has commenced its assisted living facilty operation since March 1, 2019. 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 May 31, 2019, the Company has an accumulated deficit and has earned minimal revenues during the six months ended May 31, 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 | 6 Months Ended |
May 31, 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 May 31, 2019 and the results of operations and cash flows for the periods presented. The results of operations for the six months ended May 31, 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.” Resident fees at our independent senior living and assisted living community consists of regular monthly charges for basic housing and support services and fees for additional requested services, such as assisted living services, personalized health services and ancillary services. Fees are specified in our agreements with residents, which are generally 30-day terms, with regular monthly charges billed in advance on the first day of each month. Recent Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). Under this guidance, lessees will be required to recognize on the balance sheet a lease liability and a right-of-use asset for all leases, with the exception of short-term leases. The lease liability represents the lessee s obligation to make lease payments arising from a lease, and will be measured as the present value of the lease payments. The right-of-use asset represents the lessee s right to use a specified asset for the lease term, and will be measured at the lease liability amount, adjusted for lease prepayment, lease incentives received and the lessee s initial direct costs. The standard also requires a lessee to recognize a single lease cost allocated over the lease term, generally on a straight-line basis. The new guidance is effective for fiscal years beginning after December 15, 2018. ASU 2016-02 is required to be applied using the modified retrospective approach for all leases existing as of the effective date and provides for certain practical expedients. Early adoption is permitted. The Company is currently evaluating the effects that the adoption of ASU 2016-02 will have on the Company's financial statements. 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. |
ACCOUNTS PAYABLE AND ACCRUED LI
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES | 6 Months Ended |
May 31, 2019 | |
Accounts Payable and Accrued Liabilities, Current [Abstract] | |
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES | NOTE 3 – ACCOUNTS PAYABLE AND ACCRUED LIABILITIES Accounts payable and accrued liabilities at May 31, 2019 and November 30, 2018 consist of the following: May 31, November 30, 2019 2018 Trade accounts $ 9,820 $ 2,881 Credit card 17,897 - $ 27,717 $ 2,881 |
EQUITY
EQUITY | 6 Months Ended |
May 31, 2019 | |
Equity [Abstract] | |
EQUITY | NOTE 4 - 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 May 31, 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 six months ended May 31, 2019, the Company issued to ten (10) unaffiliated investors 1,100,000 shares of common stock for $22,000. As of May 31, 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 | 6 Months Ended |
May 31, 2019 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 5 - RELATED PARTY TRANSACTIONS During the six months ended May 31, 2019 and 2018, the Company paid salaries to our two officers, one of which is our controlling shareholder, $9,420 and $0, respectively. During the six months ended May 31, 2019 and 2018, our CEO paid a total amount of $5,556 and $0, for property and liability insurance deposit on behalf of the Company respectively. The Company does not have employment contracts with its officers. |
COMMITMENT
COMMITMENT | 6 Months Ended |
May 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENT | NOTE 6 – COMMITMENT On March 7, 2019, the Company entered into the commercial real estate lease agreement. The Company was to lease a building for $3,713 monthly, from March 7, 2019 to the earlier of (i) the resident count exceeds 22 or , (ii) January 7, 2020. The term may be extended at the sole discretion of the landlord. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 6 Months Ended |
May 31, 2019 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 7 – SUBSEQUENT EVENTS Subsequent to May 31, 2019, and through the date these financial statements were issued, the Company had no subsequent events to report. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 6 Months Ended |
May 31, 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 May 31, 2019 and the results of operations and cash flows for the periods presented. The results of operations for the six months ended May 31, 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.” Resident fees at our independent senior living and assisted living community consists of regular monthly charges for basic housing and support services and fees for additional requested services, such as assisted living services, personalized health services and ancillary services. Fees are specified in our agreements with residents, which are generally 30-day terms, with regular monthly charges billed in advance on the first day of each month. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). Under this guidance, lessees will be required to recognize on the balance sheet a lease liability and a right-of-use asset for all leases, with the exception of short-term leases. The lease liability represents the lessee s obligation to make lease payments arising from a lease, and will be measured as the present value of the lease payments. The right-of-use asset represents the lessee s right to use a specified asset for the lease term, and will be measured at the lease liability amount, adjusted for lease prepayment, lease incentives received and the lessee s initial direct costs. The standard also requires a lessee to recognize a single lease cost allocated over the lease term, generally on a straight-line basis. The new guidance is effective for fiscal years beginning after December 15, 2018. ASU 2016-02 is required to be applied using the modified retrospective approach for all leases existing as of the effective date and provides for certain practical expedients. Early adoption is permitted. The Company is currently evaluating the effects that the adoption of ASU 2016-02 will have on the Company's financial statements. 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. |
ACCOUNTS PAYABLE AND ACCRUED _2
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables) | 6 Months Ended |
May 31, 2019 | |
Accounts Payable and Accrued Liabilities, Current [Abstract] | |
Schedule of accounts payable and accrued liabilities | May 31, November 30, 2019 2018 Trade accounts $ 9,820 $ 2,881 Credit card 17,897 - $ 27,717 $ 2,881 |
ACCOUNTS PAYABLE AND ACCRUED _3
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Details) - USD ($) | May 31, 2019 | Nov. 30, 2018 |
Accounts Payable and Accrued Liabilities, Current [Abstract] | ||
Trade accounts | $ 9,820 | $ 2,881 |
Credit card | 17,897 | 0 |
Accounts payable and accrued liabilities | $ 27,717 | $ 2,881 |
EQUITY (Detail Textuals)
EQUITY (Detail Textuals) | 3 Months Ended | 6 Months Ended | |
Feb. 28, 2019USD ($) | May 31, 2019USD ($)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 | $ 22,000 | |
Common stock, shares issued | 14,150,000 | 13,050,000 | |
Common stock, shares outstanding | 14,150,000 | 13,050,000 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Detail Textuals) | 6 Months Ended | |
May 31, 2019USD ($)Officer | May 31, 2018USD ($) | |
Related Party Transactions [Abstract] | ||
Number of officers | Officer | 2 | |
Amount paid to related party | $ 9,420 | $ 0 |
Due to related parties | $ 5,556 | $ 0 |
COMMITMENT (Detail Textuals)
COMMITMENT (Detail Textuals) | Mar. 07, 2019USD ($) |
Commercial real estate lease agreement | |
Commitment [Line Items] | |
Lease expense | $ 3,713 |