Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Mar. 30, 2021 | Jun. 30, 2020 | |
Details | |||
Registrant CIK | 0001730732 | ||
Fiscal Year End | --12-31 | ||
Registrant Name | GUURU Corp. | ||
SEC Form | 10-K | ||
Period End date | Dec. 31, 2020 | ||
Tax Identification Number (TIN) | 81-4128534 | ||
Number of common stock shares outstanding | 7,515,000 | ||
Public Float | $ 0 | ||
Filer Category | Non-accelerated Filer | ||
Current with reporting | Yes | ||
Interactive Data Current | Yes | ||
Voluntary filer | No | ||
Well-known Seasoned Issuer | No | ||
Shell Company | false | ||
Small Business | true | ||
Emerging Growth Company | true | ||
Ex Transition Period | false | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Entity File Number | 333-230070 | ||
Entity Incorporation, State or Country Code | CA | ||
Entity Address, Address Line One | 7702 E Doubletree Ranch Rd | ||
Entity Address, Address Line Two | Unit 300 | ||
Entity Address, City or Town | Scottsdale | ||
Entity Address, State or Province | AZ | ||
Entity Address, Postal Zip Code | 85258 | ||
City Area Code | 480 | ||
Local Phone Number | 289-9019 | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2020 | ||
Document Fiscal Period Focus | FY |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Current assets: | ||
Cash | $ 235,378 | $ 370,255 |
Prepaid expenses | 0 | 561 |
Total Current Assets | 235,378 | 370,816 |
Software development costs | 90,000 | 42,000 |
ASSETS | 325,378 | 412,816 |
Current liabilities: | ||
Accounts payable | 118,254 | 76,945 |
Accrued Interest - related party | 154,134 | 70,894 |
Note payable - related party | 420,500 | 420,500 |
Accrued officer compensation - related party | 860,528 | 693,862 |
Total Liabilities | 1,553,416 | 1,262,201 |
Stockholders' Deficit: | ||
Common stock, $0.0001 par value; 10,000,000,000 shares authorized, 7,515,500 and 7,400,000 shares issued and outstanding, respectively | 803 | 791 |
Additional paid-in capital | 429,893 | 417,200 |
Common stock to be issued | 127,307 | 97,336 |
Treasury Stock | (50) | (50) |
Accumulated deficit | (1,785,991) | (1,364,662) |
Total Stockholders' Deficit | (1,228,038) | (849,385) |
Total Liabilities and Stockholders' Deficit | $ 325,378 | $ 412,816 |
CONSOLIDATED BALANCE SHEETS - P
CONSOLIDATED BALANCE SHEETS - Parenthetical - $ / shares | Dec. 31, 2020 | Dec. 31, 2019 |
Details | ||
Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 |
Common Stock, Shares Authorized | 10,000,000,000 | 10,000,000,000 |
Common Stock, Shares, Issued | 7,515,500 | 7,400,000 |
Common Stock, Shares, Outstanding | 7,515,500 | 7,400,000 |
STATEMENTS OF OPERATIONS
STATEMENTS OF OPERATIONS - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Details | ||
Revenues | $ 0 | $ 0 |
Operating Expenses: | ||
Officer compensation - related party | 194,167 | 177,500 |
General and administrative expenses | 149,877 | 133,793 |
Total operating expenses | 344,044 | 311,293 |
Loss from operations | (344,044) | (311,293) |
Other income (expense): | ||
Interest expense | (83,240) | (40,812) |
Interest income | 955 | 3,992 |
Other income | 5,000 | 0 |
Total other (expense) income | (77,285) | (36,820) |
Loss before income taxes | (421,329) | (348,113) |
Provision for income taxes | 0 | 0 |
Net Loss | $ (421,329) | $ (348,113) |
Loss per share, basic and diluted | $ (0.06) | $ (0.05) |
Weighted average shares, basic and diluted | 7,504,741 | 7,400,000 |
STATEMENTS OF SHAREHOLDERS' EQU
STATEMENTS OF SHAREHOLDERS' EQUITY (DEFICIT) - USD ($) | Common Stock | Additional Paid-in Capital | Receivables from Stockholder | Treasury Stock | AOCI Attributable to Parent | Total |
Stockholders' Equity Attributable to Parent, Beginning Balance at Dec. 31, 2018 | $ 791 | $ 417,200 | $ 64,845 | $ (50) | $ (1,016,549) | $ (533,763) |
Shares, Outstanding, Beginning Balance at Dec. 31, 2018 | 7,400,000 | |||||
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture | $ 0 | 0 | 27,500 | 0 | 0 | 27,500 |
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture | 0 | |||||
Stock Issued During Period, Value, Issued for Services | $ 0 | 0 | 4,991 | 0 | 0 | 4,991 |
Net Loss | 0 | 0 | 0 | (348,113) | (348,113) | |
Stockholders' Equity Attributable to Parent, Ending Balance at Dec. 31, 2019 | $ 791 | 417,200 | 97,336 | (50) | (1,364,662) | (849,385) |
Shares, Outstanding, Ending Balance at Dec. 31, 2019 | 7,400,000 | |||||
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture | $ 0 | 0 | 27,500 | 0 | 0 | 27,500 |
Stock Issued During Period, Value, Issued for Services | 12 | 12,693 | 2,471 | 0 | 0 | 15,176 |
Net Loss | 0 | 0 | 0 | (421,329) | (421,329) | |
Stockholders' Equity Attributable to Parent, Ending Balance at Dec. 31, 2020 | $ 803 | $ 429,893 | $ 127,307 | $ (50) | $ (1,785,991) | $ (1,228,038) |
Shares, Outstanding, Ending Balance at Dec. 31, 2020 | 7,515,500 | |||||
Stock Issued During Period, Shares, Issued for Services | 115,500 |
STATEMENTS OF CASH FLOWS
STATEMENTS OF CASH FLOWS - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flows from operating activities: | ||
Net Loss | $ (421,329) | $ (348,113) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Stock based compensation - related party | 27,500 | 27,500 |
Stock based compensation | 15,176 | 4,991 |
Changes in assets and liabilities: | ||
Prepaid expenses | 561 | 458 |
Accounts payable | 41,309 | 59,700 |
Accrued interest - related party | 83,240 | 40,812 |
Accrued compensation- related party | 166,666 | 150,000 |
Net cash used in operating activities | (86,877) | (64,652) |
Cash flows from investing activities: | ||
Software development cost | (48,000) | (42,000) |
Net cash used in investing activities | (48,000) | (42,000) |
Cash flows from financing activities: | ||
Proceeds from related party loans | 0 | 220,500 |
Net cash provided by financing activities | 0 | 220,500 |
Net increase (decrease) in cash | (134,877) | 113,848 |
Cash, beginning of year | 370,255 | 256,407 |
Cash, end of year | 235,378 | 370,255 |
Supplemental Disclosures: | ||
Interest paid | 0 | 0 |
Income taxes paid | $ 0 | $ 0 |
NOTE 1 - ORGANIZATION AND BUSIN
NOTE 1 - ORGANIZATION AND BUSINESS OPERATIONS | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
NOTE 1 - ORGANIZATION AND BUSINESS OPERATIONS | NOTE 1 – ORGANIZATION AND BUSINESS OPERATIONS Nature of Business The Company was incorporated under the laws of the State of California on September 6, 2016 under the name Taluhu Inc. The Company’s name was changed to Live Inc. on September 29, 2016 and on September 6, 2020, the Company’s name was changed to Guuru Corp. On October 2, 2020, the Company formed Talguu Inc., an Arizona corporation, as a wholly owned subsidiary for the purpose of changing the domicile of the Company from California to Arizona. The process involved the filing of respective merger forms in each of Arizona and California. On January 15, 2021, the State of Arizona approved the Statement of Merger whereby the parent entity, Guuru Corp (a California corporation, formerly Live Inc, a California corporation), was merged into Talguu Inc. (an Arizona corporation). The filing of the merger instrument in California is pending as of the date of this filing. We are cloud based business to consumer platform company. Currently, we have ManagerSpecial.com, JobDor.com, Talguu.com, and Trabahanap.com platforms. Only Trabahanap.com is in use by the public. The rest are in the development and testing stages. ManagerSpecial.com enables service providers such as restaurants, hotels, and any goods and services that need to find and offer discounts to buyers to purchase their expiring products. Trabahanap.com is our job search platform for entry level positions in service industries located in the Philippines market. JobDor.com provides a similar service in the United States market. Talguu.com is a broadcasting platform, where the content producers will be assigned their individual channels. The channels would be 100% commercial free. Each channel will deliver content circumscribed by a specific theme, such as personal health care, do-it-yourself topics, business formation and management, among others. Content will be provided by one or more providers who will produce and deliver the content on one of our channels. The content will be subscribed by individual viewers for a fee. We will receive an agreed percentage of the fees. Our offices are located 7702 E. Doubletree Ranch Road, Unit 300, Scottsdale, Arizona 85258. |
NOTE 2 - SUMMARY OF SIGNIFICANT
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The Company’s consolidated Use of estimates The preparation of financial statements in conformity with generally accepted accounting principles 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 and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the estimated useful lives of property and equipment. Actual results could differ from those estimates. Concentrations of Credit Risk We maintain our cash in bank deposit accounts, the balances of which at times may exceed federally insured limits. We continually monitor our banking relationships and consequently have not experienced any losses in our accounts. We believe we are not exposed to any significant credit risk on cash. Cash equivalents The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. There were no cash equivalents for the year ended December 31, 2020 or 2019. Software development costs Per ASC 985-20 expenses in the development of the software are expensed until technological feasibility has been reached and costs are determined to be recoverable. At this point additional expenses are capitalized. Capitalization ends, and amortization begins when the product is available for general release to customers. As of December 31, 2020, the Company has $90,000 of capitalized software development costs. Fair value of financial instruments The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value in accounting principles generally accepted in the United States of America (U.S. GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three (3) levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below: Level 1: Level 2: Level 3: The carrying amount of the Company’s financial assets and liabilities, such as cash, prepaid expenses and accrued expenses approximate their fair value because of the short maturity of those instruments. The Company’s notes payable approximates the fair value of such instruments based upon management’s best estimate of interest rates that would be available to the Company for similar financial arrangements at December 31, 2020 and 2019. Revenue Recognition Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers Topic 606 Topic 606. Revenue from services are recognized under Topic 606 • executed contracts with the Company’s customers that it believes are legally enforceable; • identification of performance obligations in the respective contract; • determination of the transaction price for each performance obligation in the respective contract; • allocation the transaction price to each performance obligation; and • recognition of revenue only when the Company satisfies each performance obligation. These five elements, as applied as summarized below: • Income taxes The Company follows Section 740-10-30 of the FASB Accounting Standards Codification, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are based on the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the fiscal year in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the fiscal years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the Statements of Income in the period that includes the enactment date. On December 22, 2017, the Tax Cuts and Jobs Act (TCJA) was signed into law by the President of the United States. TCJA is a tax reform act that among other things, reduced corporate tax rates to 21 percent effective January 1, 2018. FASB ASC 740, Income Taxes, requires deferred tax assets and liabilities to be adjusted for the effect of a change in tax laws or rates in the year of enactment, which is the year in which the change was signed into law. The Company adopted ASC 740-10-25 (“ASC 740-10-25”) with regard to uncertainty income taxes. ASC 740-10-25 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under ASC 740-10-25, we may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. ASC 740-10-25 also provides guidance on derecognition, classification, interest and penalties on income taxes, and accounting in interim periods and requires increased disclosures. We had no material adjustments to our liabilities for unrecognized income tax benefits according to the provisions of ASC 740-10-25. Stock-based Compensation We account for equity-based transactions with nonemployees under the provisions of ASC Topic No. 505-50, Equity-Based Payments to Non-Employees We account for employee stock-based compensation in accordance with the guidance of FASB ASC Topic 718, Compensation—Stock Compensation, Net income (loss) per common share Net income (loss) per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock and potentially outstanding shares of common stock during the period. The weighted average number of common shares outstanding and potentially outstanding common shares assumes that the Company incorporated as of the beginning of the first period presented. For the years ended December 31, 2020 and 2019, there were no dilutive shares. Recently issued accounting pronouncements The Company has implemented all new applicable accounting pronouncements that are in effect. These pronouncements did not have any material impact on the consolidated and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its consolidated |
NOTE 3 - SOFTWARE DEVELOPMENT
NOTE 3 - SOFTWARE DEVELOPMENT | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
NOTE 3 - SOFTWARE DEVELOPMENT | NOTE 3 – SOFTWARE DEVELOPMENT Per ASC 985-20 expenses in the development of the software are expensed until technological feasibility has been reached and costs are determined to be recoverable. At this point additional expenses are capitalized. Capitalization ends, and amortization begins when the product is available for general release to customers. As of December 31, 2020 and December 31, 2019, the Company has $90,000 and $42,000, respectively, of capitalized software development costs. |
NOTE 4 - GOING CONCERN
NOTE 4 - GOING CONCERN | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
NOTE 4 - GOING CONCERN | NOTE 4 – GOING CONCERN The accompanying consolidated The Company has developed and is managing four cloud based platforms as part of our overall business plan. In order for us to fully implement our business plan, we will use our available cash of approximately $235,000 as of December 31, 2020 and we will need approximately $1,352,000 in public or private financing from the sale of our common stock for a total of $1,649,000 in required funds. These funds will enable us to fully develop and market our 3 platforms for the next 12 months. Impact of COVID-19 on Our Business. In March 2020, the World Health Organization declared the novel coronavirus (COVID-19) a global pandemic and recommended containment and mitigation measures worldwide. The spread of COVID-19 has affected segments of the global economy and may affect our operations, including the potential interruption of our supply chain. We are monitoring this situation closely, and although operations have not been materially affected by the COVID-19 outbreak to date, the ultimate duration and severity of the outbreak and its impact on the economic environment and our business is uncertain. The extent to which COVID-19 impacts our operations will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the duration of the outbreak, new information which may emerge concerning the severity of COVID-19 and the actions to contain the coronavirus or treat its impact, among others. In particular, the continued spread of the coronavirus globally could adversely impact our operations, including among others, our manufacturing and supply chain, sales and marketing and could have an adverse impact on our business and our financial results. The COVID-19 outbreak is a widespread health crisis that has adversely affected the economies and financial markets of many countries, resulting in an economic downturn that could affect demand for our products and likely impact our operating results. |
NOTE 5- RELATED-PARTY
NOTE 5- RELATED-PARTY | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
NOTE 5- RELATED-PARTY | NOTE 5 – RELATED PARTY On July 31, 2017, the Company executed a promissory note with Keith Wong, the Company’s founder, Chief Executive Officer and sole director, for $200,000. The note originally accrued interest at a rate of 10% per annum and is due on demand. The note was amended, effective November 1, 2019, in order to change the interest rate to compounded interest at 4% per quarter. As of December 31, 2020, there is $96,202 of accrued interest on this note. On June 21, 2019, the Company executed a promissory note with Mr. Wong for $160,000. The loan is unsecured, accrues interest at 4% per quarter, compounded quarterly, and is due on demand. As of December 31 , 2020, there is $43,341 of accrued interest on this note. On August 16, 2019, the Company executed a promissory note with Mr. Wong for $60,000. The loan is unsecured, accrues interest at 4% per quarter, compounded quarterly, and is due on demand. As of December 31 , 2020, there is $14,459 of accrued interest on this note. In addition to the above loans, on September 30, 2019, Mr. Wong advanced the Company $500 to open a bank account in the Company’s name in the Philippines. The loan is unsecured, accrues interest at 4% per quarter, compounded quarterly, and is due on demand. As of December 31 , 2020, there is $133 of accrued interest on this loan. The Company and Mr. Wong entered into a Consulting Agreement dated September 1, 2016, as amended. The term of the agreement was four years, which expired on October 31, 2020. Mr. Wong’s annual compensation under the agreement as amended was $150,000. Payment of the cash compensation accrued and is payable upon the earlier of; a Nasdaq listing or an aggregate of at least 51% ownership of the Company is beneficially controlled by parties other than the current management (as of March 2, 2018). In addition, Mr. Wong received 1,000,000 shares of common stock which vested over four years (or monthly at the rate of 20,833 shares per month). The 1,000,000 shares of common stock has fully vested in favor of Mr. Wong. Since the Company’s common stock is not currently trading, the shares were valued at the price of shares sold to third parties, or $0.11. During the years ended December 31 Effective September 1, 2020, the parties entered into a new Consulting Agreement. Mr. Wong’s annual compensation is $200,000. In addition, he is entitled to receive 1,000,000 shares of common stock which will vest over four years (or monthly at the rate of 20,833 shares per month). The term of the agreement is four years and either party may terminate the agreement by delivering notice to the other party. As of December 31, 2020, 83,332 shares of common stock have vested in favor of Mr. Wong under this agreement, valued at $9,167. On December 5, 2019, Wonder International Education & Investment Group Corporation, an Arizona corporation (“Wonder”), entered into a consulting agreement with the Company pursuant to which Wonder received 115,500 shares of common stock of the Company in exchange for certain consulting services to be performed by Wonder. As part of that agreement, the Company agreed, at its own expense, to file a Form S-1 registration statement with the Securities and Exchange Commission (“Commission”). Upon effectiveness of the registration statement, the 115,500 shares of common stock presently held by Wonder will be distributed to its shareholders on a ratable basis. Mr. Wong is the majority shareholder of Wonder and will receive 77,000 shares out of the total of 115,500 shares (or 66.67% of the shares) issued under the stated agreement. The stated shares were issued to Wonder on February 4, 2020. On February 11, 2020, the Company filed the referenced Form S-1 registration statement with the Commission, which was declared effective on April 23, 2020 and the shares were distributed to the Wonder shareholders. Pursuant to the terms of the Wonder consulting agreement dated December 5, 2019, the Company granted 115,500 shares of common stock for services. The shares were valued at $0.11 per share for total non-cash expense of $12,705. The expense is being recognized over the term of the one-year contract. |
NOTE 6 - COMMON STOCK
NOTE 6 - COMMON STOCK | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
NOTE 6 - COMMON STOCK | NOTE 6 – COMMON STOCK Pursuant to the terms of a consulting agreement dated November 1, 2018, the Company granted 74,000 shares of common stock for services. The shares vest equally over twenty-four months. During the year ended December 31, 2020, 29,803 shares have vested for total non-cash compensation expense of $3,396. As of December 31 , 2020, the shares have not yet been issued by the transfer agent and have therefore been credited to common stock to be issued. Refer to Note 5 for related party equity transactions. |
NOTE 7 - INCOME TAXES
NOTE 7 - INCOME TAXES | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
NOTE 7 - INCOME TAXES | NOTE 7 – INCOME TAXES Deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carry forwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. As of December 31, 2020, the Company has recorded the full valuation allowance of $287,000. The income tax provision (benefit) consist of the following: 2020 2019 Federal income tax benefit attributable to: Current operation $ 88,500 $ 73,100 Less: change in valuation allowance (88,500) (73,100) Net provision for Federal income taxes - - Net deferred tax assets consist of the following components as of December 31: 2020 2019 Deferred tax asset attributable to: Net operating loss carryover $ 375,000 $ 287,000 Less: valuation allowance (375,000) (287,000) Net deferred tax asset $ - $ - At December 31, 2020, the Company had operating loss carry forwards of approximately $375,000, respectively, which may be offset against future taxable income from the year 2021 to 2040. In accordance with Section 382 of the Internal Revenue code, the usage of the Company’s net operating loss carryforwards may be limited in the event of a change in ownership. A full Section 382 analysis has not been prepared and NOLs could be subject to limitation under Section 382. The Company’s policy is to record interest and penalties on uncertain tax positions as a component of income tax expense. No interest or penalties were recorded during the years ended December 31, 2020 and 2019. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position in the next twelve months. The Company files income tax returns in the U.S. federal and state jurisdictions, which remain subject to examination by the various taxing authorities beginning with the tax year ended December 31, 2015 (or the tax year ended December 31, 2001 if the Company were to utilize its NOLs). No tax audits were commenced or were in process during the years ended December 31, 2020 and 2019. |
NOTE 8 - SUBSEQUENT EVENTS
NOTE 8 - SUBSEQUENT EVENTS | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
NOTE 8 - SUBSEQUENT EVENTS | NOTE 8 - SUBSEQUENT EVENTS As mentioned above, on January 15, 2021, the State of Arizona approved the Statement of Merger whereby the parent entity, Guuru Corp. (a California corporation) was merged into Talguu Inc. (an Arizona corporation). The filing of the merger instrument in California is pending as of the date of this filing. Other than as stated in this Note 8, in accordance with SFAS 165 (ASC 855-10) management has performed an evaluation of subsequent events through the date that the consolidated |
NOTE 2 - SUMMARY OF SIGNIFICA_2
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Basis of Presentation (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Basis of Presentation | Basis of presentation The Company’s consolidated |
NOTE 2 - SUMMARY OF SIGNIFICA_3
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Use of Estimates (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Use of Estimates | Use of estimates The preparation of financial statements in conformity with generally accepted accounting principles 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 and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the estimated useful lives of property and equipment. Actual results could differ from those estimates. |
NOTE 2 - SUMMARY OF SIGNIFICA_4
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Concentrations of Credit Risk (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Concentrations of Credit Risk | Concentrations of Credit Risk We maintain our cash in bank deposit accounts, the balances of which at times may exceed federally insured limits. We continually monitor our banking relationships and consequently have not experienced any losses in our accounts. We believe we are not exposed to any significant credit risk on cash. |
NOTE 2 - SUMMARY OF SIGNIFICA_5
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Cash equivalents (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Cash equivalents | Cash equivalents The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. There were no cash equivalents for the year ended December 31, 2020 or 2019. |
NOTE 2 - SUMMARY OF SIGNIFICA_6
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Software development costs (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Software development costs | Software development costs Per ASC 985-20 expenses in the development of the software are expensed until technological feasibility has been reached and costs are determined to be recoverable. At this point additional expenses are capitalized. Capitalization ends, and amortization begins when the product is available for general release to customers. As of December 31, 2020, the Company has $90,000 of capitalized software development costs. |
NOTE 2 - SUMMARY OF SIGNIFICA_7
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Fair value of financial instruments (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Fair value of financial instruments | Fair value of financial instruments The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value in accounting principles generally accepted in the United States of America (U.S. GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three (3) levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below: Level 1: Level 2: Level 3: The carrying amount of the Company’s financial assets and liabilities, such as cash, prepaid expenses and accrued expenses approximate their fair value because of the short maturity of those instruments. The Company’s notes payable approximates the fair value of such instruments based upon management’s best estimate of interest rates that would be available to the Company for similar financial arrangements at December 31, 2020 and 2019. |
NOTE 2 - SUMMARY OF SIGNIFICA_8
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Revenue Recognition (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Revenue Recognition | Revenue Recognition Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers Topic 606 Topic 606. Revenue from services are recognized under Topic 606 • executed contracts with the Company’s customers that it believes are legally enforceable; • identification of performance obligations in the respective contract; • determination of the transaction price for each performance obligation in the respective contract; • allocation the transaction price to each performance obligation; and • recognition of revenue only when the Company satisfies each performance obligation. These five elements, as applied as summarized below: • |
NOTE 2 - SUMMARY OF SIGNIFICA_9
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Income taxes (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Income taxes | Income taxes The Company follows Section 740-10-30 of the FASB Accounting Standards Codification, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are based on the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the fiscal year in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the fiscal years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the Statements of Income in the period that includes the enactment date. On December 22, 2017, the Tax Cuts and Jobs Act (TCJA) was signed into law by the President of the United States. TCJA is a tax reform act that among other things, reduced corporate tax rates to 21 percent effective January 1, 2018. FASB ASC 740, Income Taxes, requires deferred tax assets and liabilities to be adjusted for the effect of a change in tax laws or rates in the year of enactment, which is the year in which the change was signed into law. The Company adopted ASC 740-10-25 (“ASC 740-10-25”) with regard to uncertainty income taxes. ASC 740-10-25 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under ASC 740-10-25, we may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. ASC 740-10-25 also provides guidance on derecognition, classification, interest and penalties on income taxes, and accounting in interim periods and requires increased disclosures. We had no material adjustments to our liabilities for unrecognized income tax benefits according to the provisions of ASC 740-10-25. |
NOTE 2 - SUMMARY OF SIGNIFIC_10
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Stock-based Compensation (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Stock-based Compensation | Stock-based Compensation We account for equity-based transactions with nonemployees under the provisions of ASC Topic No. 505-50, Equity-Based Payments to Non-Employees We account for employee stock-based compensation in accordance with the guidance of FASB ASC Topic 718, Compensation—Stock Compensation, |
NOTE 2 - SUMMARY OF SIGNIFIC_11
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Net income (loss) per common share (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Net income (loss) per common share | Net income (loss) per common share Net income (loss) per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock and potentially outstanding shares of common stock during the period. The weighted average number of common shares outstanding and potentially outstanding common shares assumes that the Company incorporated as of the beginning of the first period presented. For the years ended December 31, 2020 and 2019, there were no dilutive shares. |
NOTE 2 - SUMMARY OF SIGNIFIC_12
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Recently Issued Accounting Pronouncements (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Recently Issued Accounting Pronouncements | Recently issued accounting pronouncements The Company has implemented all new applicable accounting pronouncements that are in effect. These pronouncements did not have any material impact on the consolidated and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its consolidated |
NOTE 7 - INCOME TAXES_ Schedule
NOTE 7 - INCOME TAXES: Schedule of Components of Income Tax Expense (Benefit) (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Schedule of Components of Income Tax Expense (Benefit) | 2020 2019 Federal income tax benefit attributable to: Current operation $ 88,500 $ 73,100 Less: change in valuation allowance (88,500) (73,100) Net provision for Federal income taxes - - |
NOTE 7 - INCOME TAXES_ Schedu_2
NOTE 7 - INCOME TAXES: Schedule of Deferred Tax Assets and Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Schedule of Deferred Tax Assets and Liabilities | 2020 2019 Deferred tax asset attributable to: Net operating loss carryover $ 375,000 $ 287,000 Less: valuation allowance (375,000) (287,000) Net deferred tax asset $ - $ - |
NOTE 3 - SOFTWARE DEVELOPMENT (
NOTE 3 - SOFTWARE DEVELOPMENT (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Details | ||
Software development costs | $ 90,000 | $ 42,000 |
NOTE 4 - GOING CONCERN (Details
NOTE 4 - GOING CONCERN (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Details | ||
Accumulated deficit | $ 1,785,991 | $ 1,364,662 |
Net Loss | 421,329 | 348,113 |
Net cash used in operating activities | $ 86,877 | $ 64,652 |
Substantial Doubt about Going Concern, Management's Evaluation | In order for us to fully implement our business plan, we will use our available cash of approximately $235,000 as of December 31, 2020 and we will need approximately $1,352,000 in public or private financing from the sale of our common stock for a total of $1,649,000 in required funds. |
NOTE 5- RELATED-PARTY (Details)
NOTE 5- RELATED-PARTY (Details) - USD ($) | Dec. 05, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Aug. 16, 2019 | Jun. 21, 2019 | Jul. 31, 2017 |
Share value granted | $ 0.11 | ||||||
Note 4 | Interest | |||||||
Long-term Debt, Gross | $ 96,202 | ||||||
Note 5 | Interest | |||||||
Long-term Debt, Gross | 43,341 | ||||||
Note 6 | Interest | |||||||
Long-term Debt, Gross | 14,459 | ||||||
Note 7 | Interest | |||||||
Long-term Debt, Gross | 133 | ||||||
CEO | |||||||
Salary and Wage, Excluding Cost of Good and Service Sold | $ 200,000 | $ 150,000 | |||||
Terms of Cash Compensation | Payment of the cash compensation accrued and is payable upon the earlier of; a Nasdaq listing or an aggregate of at least 51% ownership of the Company is beneficially controlled by parties other than the current management (as of March 2, 2018). | ||||||
CEO | Note 4 | |||||||
Debt Instrument, Face Amount | $ 200,000 | ||||||
Debt Instrument, Interest Rate, Effective Percentage | 4.00% | ||||||
CEO | Note 5 | |||||||
Debt Instrument, Face Amount | $ 160,000 | ||||||
Debt Instrument, Interest Rate, Effective Percentage | 4.00% | ||||||
CEO | Note 6 | |||||||
Debt Instrument, Face Amount | $ 60,000 | ||||||
Debt Instrument, Interest Rate, Effective Percentage | 4.00% | ||||||
CEO | Note 7 | |||||||
Debt Instrument, Face Amount | $ 500 | ||||||
Debt Instrument, Interest Rate, Effective Percentage | 4.00% | ||||||
Wonder | |||||||
Stock Issued During Period, Shares, Other | 115,500 | ||||||
Consulting Agreement | As part of that agreement, the Company agreed, at its own expense, to file a Form S-1 registration statement with the Securities and Exchange Commission (“Commission”). | ||||||
Stock Issued During Period, Value, Other | $ 12,705 |
NOTE 6 - COMMON STOCK (Details)
NOTE 6 - COMMON STOCK (Details) - Consultant - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Nov. 01, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 74,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 29,803 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ 3,396 |
NOTE 7 - INCOME TAXES_ Schedu_3
NOTE 7 - INCOME TAXES: Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 |
Details | ||||
Current operation | $ 88,500 | $ 73,100 | $ 88,500 | $ 73,100 |
Less: change in valuation allowance | (88,500) | (73,100) | (88,500) | (73,100) |
Provision for income taxes | $ 0 | $ 0 | $ 0 | $ 0 |
NOTE 7 - INCOME TAXES_ Schedu_4
NOTE 7 - INCOME TAXES: Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Details | ||
Net operating loss carryover | $ 375,000 | $ 287,000 |
Less: valuation allowance | (375,000) | (287,000) |
Net deferred tax asset | $ 0 | $ 0 |
NOTE 7 - INCOME TAXES (Details)
NOTE 7 - INCOME TAXES (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Details | ||
Net operating loss carryover | $ 375,000 | $ 287,000 |