Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2021 | May 11, 2021 | |
Details | ||
Registrant CIK | 0001730732 | |
Fiscal Year End | --12-31 | |
Registrant Name | 3FORCES INC. | |
SEC Form | 10-Q | |
Period End date | Mar. 31, 2021 | |
Tax Identification Number (TIN) | 81-4128534 | |
Number of common stock shares outstanding | 7,515,000 | |
Filer Category | Non-accelerated Filer | |
Current with reporting | Yes | |
Interactive Data Current | Yes | |
Shell Company | false | |
Small Business | true | |
Emerging Growth Company | true | |
Ex Transition Period | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity File Number | 333-230070 | |
Entity Incorporation, State or Country Code | AZ | |
Entity Address, Address Line One | 7702 E Doubletree Ranch Road | |
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 | 902-3062 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q1 |
BALANCE SHEETS
BALANCE SHEETS - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash | $ 242,160 | $ 235,378 |
Total Current Assets | 242,160 | 235,378 |
Software development costs | 102,000 | 90,000 |
ASSETS | 344,160 | 325,378 |
Current liabilities: | ||
Accounts payable | 118,866 | 118,254 |
Accrued Interest - related party | 178,518 | 154,134 |
Note payable - related party | 460,500 | 420,500 |
Accrued officer compensation - related party | 910,528 | 860,528 |
Total Liabilities | 1,668,412 | 1,553,416 |
Stockholders' Deficit: | ||
Common stock, $0.0001 par value; 10,000,000,000 shares authorized, 7,515,500 shares issued and outstanding | 803 | 803 |
Additional paid-in capital | 429,893 | 429,893 |
Common stock to be issued | 134,182 | 127,307 |
Treasury Stock | (50) | (50) |
Accumulated deficit | (1,889,080) | (1,785,991) |
Total Stockholders' Deficit | (1,324,252) | (1,228,038) |
Total Liabilities and Stockholders' Deficit | $ 344,160 | $ 325,378 |
BALANCE SHEETS - Parenthetical
BALANCE SHEETS - Parenthetical - $ / shares | Mar. 31, 2021 | Dec. 31, 2020 |
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 | 7,515,500 |
Common Stock, Shares, Outstanding | 7,515,500 | 7,515,500 |
STATEMENTS OF OPERATIONS
STATEMENTS OF OPERATIONS - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Operating Expenses: | ||
Officer compensation - related party | $ 50,000 | $ 37,500 |
General and administrative expenses | 28,761 | 49,544 |
Total operating expenses | 78,761 | 87,044 |
Loss from operations | (78,761) | (87,044) |
Other income (expense): | ||
Interest expense-related party | (24,384) | (19,455) |
Interest income | 56 | 525 |
Total other expense | (24,328) | (18,930) |
Loss before income taxes | (103,089) | (105,974) |
Provision for income taxes | 0 | 0 |
Net Loss | $ (103,089) | $ (105,974) |
Loss per share, basic and diluted | $ (0.01) | $ (0.01) |
Weighted average shares, basic and diluted | 7,515,500 | 7,471,077 |
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, 2019 | $ 791 | $ 417,200 | $ 97,336 | $ (50) | $ (1,364,662) | $ (849,385) |
Shares, Outstanding, Beginning Balance at Dec. 31, 2019 | 7,400,000 | |||||
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture | $ 12 | 12,693 | 5,954 | 0 | 0 | 18,659 |
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture | 115,500 | |||||
Stock Issued During Period, Value, Issued for Services | $ 0 | 0 | 1,017 | 0 | 0 | 1,017 |
Stock Issued During Period, Shares, Issued for Services | 0 | |||||
Net Loss | $ 0 | 0 | 0 | (105,974) | (105,974) | |
Stockholders' Equity Attributable to Parent, Ending Balance at Mar. 31, 2020 | $ 803 | 429,893 | 104,307 | (50) | (1,470,636) | (935,683) |
Shares, Outstanding, Ending Balance at Mar. 31, 2020 | 7,515,500 | |||||
Stockholders' Equity Attributable to Parent, Beginning Balance at Dec. 31, 2020 | $ 803 | 429,893 | 127,307 | (50) | (1,785,991) | (1,228,038) |
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture | 0 | 0 | 6,875 | 0 | 0 | 6,875 |
Net Loss | 0 | 0 | 0 | 0 | (103,089) | (103,089) |
Stockholders' Equity Attributable to Parent, Ending Balance at Mar. 31, 2021 | $ 803 | $ 429,893 | $ 134,182 | $ (50) | $ (1,889,080) | $ (1,324,252) |
Shares, Outstanding, Ending Balance at Mar. 31, 2021 | 7,515,500 |
STATEMENTS OF CASH FLOWS
STATEMENTS OF CASH FLOWS - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Cash flows from operating activities: | ||
Net Loss | $ (103,089) | $ (105,974) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Stock based compensation –related party | 6,875 | 18,659 |
Stock based compensation | 0 | 1,017 |
Changes in assets and liabilities: | ||
Prepaid expenses | 0 | (8,046) |
Accounts payable | 612 | 6,148 |
Accrued interest - related party | 24,384 | 19,456 |
Accrued compensation- related party | 50,000 | 37,500 |
Net cash used in operating activities | (21,218) | (31,240) |
Cash flows from investing activities: | ||
Software development cost | (12,000) | (12,000) |
Net cash used in investing activities | (12,000) | (12,000) |
Cash flows from financing activities: | ||
Proceeds from related party | 40,000 | 0 |
Net cash provided by financing activities | 40,000 | 0 |
Net increase (decrease) in cash | 6,782 | (43,240) |
Cash, beginning of period | 235,378 | 370,255 |
Cash, end of period | 242,160 | 327,015 |
Supplemental Disclosures: | ||
Interest paid | 0 | 0 |
Income taxes paid | $ 0 | $ 0 |
Items
Items - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Common Stock | ||
Stockholders' Equity Attributable to Parent, Beginning Balance | $ 803 | $ 791 |
Shares, Outstanding, Ending Balance | 7,515,500 | 7,515,500 |
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture | $ 0 | $ 12 |
Net Loss | 0 | 0 |
Stockholders' Equity Attributable to Parent, Ending Balance | 803 | 803 |
Additional Paid-in Capital | ||
Stockholders' Equity Attributable to Parent, Beginning Balance | 429,893 | 417,200 |
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture | 0 | 12,693 |
Net Loss | 0 | 0 |
Stockholders' Equity Attributable to Parent, Ending Balance | 429,893 | 429,893 |
Receivables from Stockholder | ||
Stockholders' Equity Attributable to Parent, Beginning Balance | 127,307 | 97,336 |
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture | 6,875 | 5,954 |
Net Loss | 0 | |
Stockholders' Equity Attributable to Parent, Ending Balance | 134,182 | 104,307 |
Treasury Stock | ||
Stockholders' Equity Attributable to Parent, Beginning Balance | (50) | (50) |
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture | 0 | 0 |
Net Loss | 0 | 0 |
Stockholders' Equity Attributable to Parent, Ending Balance | (50) | (50) |
AOCI Attributable to Parent | ||
Stockholders' Equity Attributable to Parent, Beginning Balance | (1,785,991) | (1,364,662) |
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture | 0 | 0 |
Net Loss | (103,089) | (105,974) |
Stockholders' Equity Attributable to Parent, Ending Balance | (1,889,080) | (1,470,636) |
Stockholders' Equity Attributable to Parent, Beginning Balance | (1,228,038) | (849,385) |
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture | 6,875 | 18,659 |
Net Loss | (103,089) | (105,974) |
Stockholders' Equity Attributable to Parent, Ending Balance | $ (1,324,252) | $ (935,683) |
NOTE 1 - ORGANIZATION AND BUSIN
NOTE 1 - ORGANIZATION AND BUSINESS OPERATIONS | 3 Months Ended |
Mar. 31, 2021 | |
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, on September 6, 2020, the Company’s name was changed to Guuru Corp. and on April 29, 2021, the Company’s name was changed to 3Forces Inc. 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). On March 15, 2021, the State of California is approved the merger transaction. As mentioned above, on April 29, 2021, the Company’s name was changed to 3Forces Inc. 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 | 3 Months Ended |
Mar. 31, 2020 | |
Notes | |
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The Company’s unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The accompanying unaudited condensed financial statements reflect all adjustments, consisting of only normal recurring items, which, in the opinion of management, are necessary for a fair statement of the results of operations for the periods shown and are not necessarily indicative of the results to be expected for the full year ending December 31, 2021. These unaudited condensed financial statements should be read in conjunction with the financial statements and related notes for the year ended December 31, 2020. 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. Recently issued accounting pronouncements The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, 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 financial position or results of operations. |
NOTE 3 - SOFTWARE DEVELOPMENT
NOTE 3 - SOFTWARE DEVELOPMENT | 3 Months Ended |
Mar. 31, 2021 | |
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 March 31, 2021 and December 31, 2020, the Company has $102,000 and $90,000, respectively, of capitalized software development costs. |
NOTE 4 - GOING CONCERN
NOTE 4 - GOING CONCERN | 3 Months Ended |
Mar. 31, 2021 | |
Notes | |
NOTE 4 - GOING CONCERN | NOTE 4 - GOING CONCERN The accompanying unaudited The Company has developed and is managing three cloud based platforms as part of our overall business plan. In order for us to fully implement our business plan, we will need approximately $800,000 in public or private financing from the sale of our common stock. 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 | 3 Months Ended |
Mar. 31, 2021 | |
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 March 31, 2021, there is $107,849 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 March 31, 2021, there is $51,475 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 March 31, 2021, there is $17,438 of accrued interest on this note. On February 4, 2021, the Company executed a promissory note with Mr. Wong for $40,000. The loan is unsecured, accrues interest at 4% per quarter, compounded quarterly, and is due on demand. As of March 31, 2021, there is $1,598 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 March 31, 2021, there is $158 of accrued interest on this loan. Mr. Wong’s consulting agreement was renewed effective September 1, 2020. Annual compensation was increased to $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. During the three months ended March 31, 2021, the Company granted 62,500 shares of common stock to its CEO for services rendered, for total non-cash expense of $6,875. Since the Company’s common stock is not currently trading shares were issued at the price of shares sold to third parties of $0.11. As of March 31, 2021, the shares have not yet been issued, and have been recorded as common stock to be issued as shown in stockholders’ deficit. As of March 31, 2021 and December 31, 2020, there is $910,528 and $860,528, respectively, of accrued compensation due to Mr. Wong. |
NOTE 6 - COMMON STOCK
NOTE 6 - COMMON STOCK | 3 Months Ended |
Mar. 31, 2021 | |
Notes | |
NOTE 6 - COMMON STOCK | NOTE 6 – COMMON STOCK Refer to Note 5 for related party equity transactions. |
NOTE 7 - SUBSEQUENT EVENTS
NOTE 7 - SUBSEQUENT EVENTS | 3 Months Ended |
Mar. 31, 2021 | |
Notes | |
NOTE 7 - SUBSEQUENT EVENTS | NOTE 7 - SUBSEQUENT EVENTS In accordance with SFAS 165 (ASC 855-10) management has performed an evaluation of subsequent events through the date that the unaudited On April 29, 2021, the Company’s name was changed to 3Forces Inc. |
NOTE 2 - SUMMARY OF SIGNIFICA_2
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Basis of Presentation (Policies) | 3 Months Ended |
Mar. 31, 2021 | |
Policies | |
Basis of Presentation | Basis of presentation The Company’s unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The accompanying unaudited condensed financial statements reflect all adjustments, consisting of only normal recurring items, which, in the opinion of management, are necessary for a fair statement of the results of operations for the periods shown and are not necessarily indicative of the results to be expected for the full year ending December 31, 2021. These unaudited condensed financial statements should be read in conjunction with the financial statements and related notes for the year ended December 31, 2020. |
NOTE 2 - SUMMARY OF SIGNIFICA_3
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Use of Estimates (Policies) | 3 Months Ended |
Mar. 31, 2021 | |
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. |
NOTE 2 - SUMMARY OF SIGNIFICA_4
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Recently Issued Accounting Pronouncements (Policies) | 3 Months Ended |
Mar. 31, 2021 | |
Policies | |
Recently Issued Accounting Pronouncements | Recently issued accounting pronouncements The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, 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 financial position or results of operations. |
NOTE 3 - SOFTWARE DEVELOPMENT (
NOTE 3 - SOFTWARE DEVELOPMENT (Details) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Details | ||
Software development costs | $ 102,000 | $ 90,000 |
NOTE 4 - GOING CONCERN (Details
NOTE 4 - GOING CONCERN (Details) - USD ($) | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Details | |||
Accumulated deficit | $ 1,889,080 | $ 1,785,991 | |
Net Loss | 103,089 | $ 105,974 | |
Net cash used in operating activities | $ 21,218 | $ 31,240 | |
Substantial Doubt about Going Concern, Management's Evaluation | . In order for us to fully implement our business plan, we will need approximately $800,000 in public or private financing from the sale of our common stock. |
NOTE 5- RELATED-PARTY (Details)
NOTE 5- RELATED-PARTY (Details) - USD ($) | 3 Months Ended | ||||||
Mar. 31, 2021 | Mar. 31, 2020 | Feb. 04, 2021 | Aug. 16, 2019 | Jun. 21, 2019 | Jul. 31, 2017 | Feb. 04, 2012 | |
Stock Issued During Period, Value, Issued for Services | $ 1,017 | ||||||
Share Price | $ 0.11 | ||||||
Note 1 | Interest | |||||||
Long-term Debt, Gross | $ 107,849 | ||||||
Note 2 | Interest | |||||||
Long-term Debt, Gross | 51,475 | ||||||
Note 3 | Interest | |||||||
Long-term Debt, Gross | 17,438 | ||||||
Note 4 | Interest | |||||||
Long-term Debt, Gross | 1,598 | ||||||
Note 7 | Interest | |||||||
Long-term Debt, Gross | 158 | ||||||
CEO | |||||||
Salary and Wage, Excluding Cost of Good and Service Sold | $ 200,000 | ||||||
Stock Issued During Period, Shares, Issued for Services | 62,500 | ||||||
Stock Issued During Period, Value, Issued for Services | $ 6,875 | ||||||
CEO | Note 1 | |||||||
Debt Instrument, Face Amount | $ 200,000 | ||||||
Debt Instrument, Interest Rate, Effective Percentage | 4.00% | ||||||
CEO | Note 2 | |||||||
Debt Instrument, Face Amount | $ 160,000 | ||||||
Debt Instrument, Interest Rate, Effective Percentage | 4.00% | ||||||
CEO | Note 3 | |||||||
Debt Instrument, Face Amount | $ 60,000 | ||||||
Debt Instrument, Interest Rate, Effective Percentage | 4.00% | ||||||
CEO | Note 4 | |||||||
Debt Instrument, Face Amount | $ 40,000 | ||||||
Debt Instrument, Interest Rate, Effective Percentage | 4.00% | ||||||
CEO | Note 7 | |||||||
Debt Instrument, Face Amount | $ 500 | ||||||
Debt Instrument, Interest Rate, Effective Percentage | 4.00% |