Cover
Cover - shares | 6 Months Ended | |
Jun. 30, 2023 | Aug. 10, 2023 | |
Cover [Abstract] | ||
DocumentType | 10-Q | |
Amendment Flag | false | |
DocumentQuarterlyReport | true | |
DocumentTransitionReport | false | |
DocumentPeriodEndDate | Jun. 30, 2023 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2023 | |
Current Fiscal Year End Date | --12-31 | |
FileNumber | 333-229830 | |
RegistrantName | GUOCHUN INTERNATIONAL INC. | |
Entity Central Index Key | 0001765048 | |
TaxIdentificationNumber | 32-0575017 | |
IncorporationStateCountryCode | NV | |
AddressLine1 | 66 West Flagler Street, Suite 900 - #3040 | |
AddressCity | Miami | |
AddressState | FL | |
AddressPostalZipCode | 33130 | |
CityAreaCode | 1251 | |
LocalPhoneNumber | 2629446 | |
dei:EntityCurrentReportingStatus | Yes | |
InteractiveDataCurrent | No | |
FilerCategory | Non-accelerated Filer | |
SmallBusiness | true | |
EmergingGrowthCompany | true | |
ExTransitionPeriod | true | |
ShellCompany | true | |
CommonStockSharesOutstanding | 3,870,600 |
BALANCE SHEETS
BALANCE SHEETS - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
ASSETS | ||
TOTAL ASSETS | ||
CURRENT LIABILITIES | ||
Accounts payable and accrued liabilities | 298 | 1,722 |
Amount due to the sole officer and director (non-interest bearing and due on demand) | 16,141 | 3,358 |
TOTAL CURRENT LIABILITIES | 16,439 | 5,080 |
STOCKHOLDERS’ EQUITY | ||
Common stock, $0.001 par value, 75,000,000 shares authorized, 3,870,600 shares issued and outstanding as of June 30, 2023 and December 31, 2022 respectively | 3,871 | 3,871 |
Additional paid-in capital | 76,646 | 76,646 |
Accumulated deficit | (96,956) | (85,597) |
TOTAL STOCKHOLDERS’ EQUITY (DEFICIT) | (16,439) | (5,080) |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY |
BALANCE SHEETS (Parenthetical)
BALANCE SHEETS (Parenthetical) - $ / shares | Jun. 30, 2023 | Dec. 31, 2022 |
Statement of Financial Position [Abstract] | ||
Common Stock Stated Value | $ 0.001 | $ 0.001 |
CommonStockSharesAuthorized | 75,000,000 | 75,000,000 |
CommonStockSharesIssued | 3,870,600 | 3,870,600 |
CommonStockSharesOutstanding | 3,870,600 | 3,870,600 |
STATEMENTS OF OPERATIONS
STATEMENTS OF OPERATIONS - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Income Statement [Abstract] | ||||
REVENUES | ||||
COST OF REVENUES | ||||
GROSS PROFIT | ||||
OPERATING EXPENSES | ||||
Professional fees | 1,500 | 1,250 | 7,500 | 6,575 |
Amortization of software asset | 1,100 | 1,257 | ||
Other general and administrative expenses | 2,494 | 1,345 | 3,859 | 3,491 |
TOTAL OPERATING EXPENSES | 3,994 | 3,695 | 11,359 | 11,323 |
OPERATING LOSS | (3,994) | (3,695) | (11,359) | (11,323) |
OTHER INCOME (EXPENSES) | ||||
LOSS BEFORE INCOME TAX | (3,994) | (3,695) | (11,359) | (11,323) |
INCOME TAX EXPENSE | ||||
NET INCOME (LOSS) | (3,994) | (3,695) | (11,359) | (11,323) |
Foreign currency translation adjustment | ||||
COMPREHENSIVE INCOME (LOSS) | $ (3,994) | $ (3,695) | $ (11,359) | $ (11,323) |
Net loss per share - Basic and diluted | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted Average Number of shares outstanding – Basis and diluted | 3,870,600 | 3,870,600 | 3,870,600 | 3,870,600 |
Statements of Changes in Stockh
Statements of Changes in Stockholders - USD ($) | 3 Months Ended | |||||
Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Balance as of March 31, 2022 (Unaudited) | $ (12,445) | $ (5,080) | $ (51,881) | $ (44,253) | ||
Balance as of June 30, 2023 | 3,870,600 | 3,870,600 | 3,870,600 | |||
Net loss | $ (3,994) | $ (7,365) | (3,695) | (7,628) | ||
Balance as of June 30, 2022 (Unaudited) | (16,439) | (12,445) | $ (269) | $ (51,881) | ||
Balance as of June 30, 2022 | 3,870,600 | 3,870,600 | 3,870,600 | |||
Satisfaction of amount due to former sole officer and director in connection with June 27, 2022 change in control transaction | $ 76,050 | |||||
Assignment of software acquired March 17, 2022 to former sole officer and director in connection with June 27, 2022 change in control transaction | (20,743) | |||||
Common Stock [Member] | ||||||
Balance as of March 31, 2022 (Unaudited) | 3,871 | 3,871 | 3,871 | $ 3,871 | ||
Net loss | ||||||
Balance as of June 30, 2022 (Unaudited) | 3,871 | 3,871 | 3,871 | 3,871 | ||
Satisfaction of amount due to former sole officer and director in connection with June 27, 2022 change in control transaction | ||||||
Assignment of software acquired March 17, 2022 to former sole officer and director in connection with June 27, 2022 change in control transaction | ||||||
Additional Paid-in Capital [Member] | ||||||
Balance as of March 31, 2022 (Unaudited) | 76,646 | 76,646 | 20,854 | 20,854 | ||
Net loss | ||||||
Balance as of June 30, 2022 (Unaudited) | 76,646 | 76,646 | 76,161 | 20,854 | ||
Satisfaction of amount due to former sole officer and director in connection with June 27, 2022 change in control transaction | 76,050 | |||||
Assignment of software acquired March 17, 2022 to former sole officer and director in connection with June 27, 2022 change in control transaction | (20,743) | |||||
Retained Earnings [Member] | ||||||
Balance as of March 31, 2022 (Unaudited) | (92,962) | (85,597) | (76,606) | (68,978) | ||
Net loss | (3,994) | (7,365) | (3,695) | (7,628) | ||
Balance as of June 30, 2022 (Unaudited) | $ (96,956) | $ (92,962) | (80,301) | $ (76,606) | ||
Satisfaction of amount due to former sole officer and director in connection with June 27, 2022 change in control transaction |
STATEMENTS OF CASH FLOWS
STATEMENTS OF CASH FLOWS - USD ($) | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (11,359) | $ (11,323) |
Amortization of software asset | 1,257 | |
Accounts payable and accrued liabilities | (1,424) | 1,181 |
Net cash used in operating activities | (12,783) | (8,885) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Advances from the current and former sole officer and director | 12,783 | 8,822 |
Net cash provided by financing activities | 12,783 | 8,822 |
Effect of exchange rate changes on cash and cash equivalents | ||
Net change in cash and cash equivalents | (63) | |
Cash and cash equivalents, beginning of period | 1,075 | |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 1,012 | |
Cash paid for income taxes | ||
Cash paid for interest | ||
NON-CASH INVESTING AND FINANCING ACTIVITIES | ||
Software acquired March 17, 2022 using funds transferred from former sole officer and director (and credited to amount due to former sole officer and director) to vendor of software | $ 22,000 | |
Satisfaction of amount due to former sole officer and director in connection with June 27, 2022 change in control transaction | $ | $ |
Software assigned to former sole officer and director in connection with June 27, 2022 change in control transaction | $ 21,743 |
ORGANIZATION AND BUSINESS BACKG
ORGANIZATION AND BUSINESS BACKGROUND | 6 Months Ended |
Jun. 30, 2023 | |
Accounting Policies [Abstract] | |
ORGANIZATION AND BUSINESS BACKGROUND | NOTE 1 – ORGANIZATION AND BUSINESS BACKGROUND Guochun International Inc. (former name: Charmt, Inc.) (the “Company” or “Guochun”) was incorporated in the State of Nevada on August 2, 2018. To June 27, 2022, the Company was developing a messenger application. It was being designed to provide a chance to alter the speaker’s voice while talking with other people and full functionality of similar messaging apps. The Company intended to develop and publish mobile applications on the iOS, Google Play, Amazon and Ethereum platforms. Guochun International Inc. (former name: Charmt, Inc.) intended to generate revenues through the sale of branded advertisements and via consumer transactions, including in-app purchases. The management of the Company planned to distribute the application all over the world using various platforms. On June 27, 2022, Gediminas Knyzelis, the Company’s former sole officer and director and majority stockholder, sold 3,000,000 shares of Company common stock (representing 77.5% of the 3,870,600 shares of common stock issued and outstanding at June 27, 2022) to ZHOU XUAN. In connection therewith, Gediminas Knyzelis resigned as officer and director of the Company and ZHOU XUAN consented to act as the Company’s chief executive officer, chief financial officer, and director. Also, Gediminas Knyzelis agreed to waive the $76,050 amount due to him at June 27, 2022 and the Company agreed to assign the software acquired by the Company on March 17, 2022 to Gediminas Knyzelis. As a result of the ownership and management change described above, the Company ceased its former business plans and is now searching for business opportunities to acquire. |
GOING CONCERN
GOING CONCERN | 6 Months Ended |
Jun. 30, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN | NOTE 2 - GOING CONCERN The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. As of June 30, 2023, the Company had cash of $0 and negative working capital of $16,439. For the six months ended June 30, 2023, the Company had no revenues and generated a net loss of $11,359 . Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses. There is no assurance that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern. The 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 |
Jun. 30, 2023 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are expressed in US dollars. Fair Value of Financial Instruments The Company’s financial instruments consist of accounts payable and accrued liabilities, and amount due to the sole officer and director. The carrying amounts of these financial instruments approximates fair value because of the short period of time between the origination of such instruments and their expected realization. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Reclassification Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations. Cash and Cash Equivalents The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. F-5 GUOCHUN INTERNATIONAL INC. (FORMER NAME: CHARMT, INC.) NOTES TO CONDENSED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED JUNE 30, 2023 (Currency expressed in United States Dollars (“US$”)) (Unaudited) Software On March 17, 2022 the Company acquired certain quality assurance software and related intellectual property rights for $22,000 cash (which was paid for by the Company's former sole officer and director). To June 27, 2022, the cost of the software was amortized using the straight-line method over the estimated 5 years economic life of the software. On June 27, 2022, the Company assigned the software to Gediminas Knyzelis as part of the change in control transaction. Net Income (Loss) per Common Share Net income (loss) per common share is computed pursuant to FASB Accounting Standards Codification (“ASC”) 260, “Earnings Per Share”. 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 dilutive outstanding shares of common stock during the period to reflect the potential dilution that could occur from common shares issuable through contingent share arrangements, stock options and warrants. There were no potentially dilutive common shares outstanding for the periods presented. Revenue Recognition The Company’s revenue recognition policies will follow FASB 606, “Revenue from Contracts with Customers”. The core principle of ASC 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. An entity recognizes revenue in accordance with that core principle by applying the following steps: Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the performance obligations in the contract. Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. An entity must also disclose sufficient information to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers, including qualitative and quantitative information about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. Income Taxes The Company follows the asset and liability method of accounting for income taxes under FASB ASC 740, “Income Taxes.” Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the 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 income in the period that includes the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. Foreign Currency The Company’s functional and reporting currency is the U.S. dollar. Transactions may occur in foreign currencies and management follows ASC 830, “Foreign Currency Matters”. Monetary assets and liabilities denominated in foreign currencies are translated using the exchange rate prevailing at the balance sheet date. Non-monetary assets and liabilities denominated in foreign currencies are translated at rates of exchange in effect at the date of the transaction. Average monthly rates are used to translate revenues and expenses. Gains and losses arising on translation or settlement of foreign currency denominated transactions or balances are included in the Statement of Operations. Recent Accounting Pronouncements Certain accounting pronouncements have been issued by the FASB and other standard setting organizations which are not yet effective and therefore have not yet been adopted by the Company. The impact on the Company`s financial position and results of operations from adoption of these standards is not expected to be material. |
STOCKHOLDERS_ EQUITY
STOCKHOLDERS’ EQUITY | 6 Months Ended |
Jun. 30, 2023 | |
Equity [Abstract] | |
STOCKHOLDERS’ EQUITY | NOTE 4 - STOCKHOLDERS’ EQUITY |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 6 Months Ended |
Jun. 30, 2023 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are expressed in US dollars. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The Company’s financial instruments consist of accounts payable and accrued liabilities, and amount due to the sole officer and director. The carrying amounts of these financial instruments approximates fair value because of the short period of time between the origination of such instruments and their expected realization. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Reclassification | Reclassification Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations. |
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. F-5 GUOCHUN INTERNATIONAL INC. (FORMER NAME: CHARMT, INC.) NOTES TO CONDENSED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED JUNE 30, 2023 (Currency expressed in United States Dollars (“US$”)) (Unaudited) |
Software | Software On March 17, 2022 the Company acquired certain quality assurance software and related intellectual property rights for $22,000 cash (which was paid for by the Company's former sole officer and director). To June 27, 2022, the cost of the software was amortized using the straight-line method over the estimated 5 years economic life of the software. On June 27, 2022, the Company assigned the software to Gediminas Knyzelis as part of the change in control transaction. |
Net Income (Loss) per Common Share | Net Income (Loss) per Common Share Net income (loss) per common share is computed pursuant to FASB Accounting Standards Codification (“ASC”) 260, “Earnings Per Share”. 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 dilutive outstanding shares of common stock during the period to reflect the potential dilution that could occur from common shares issuable through contingent share arrangements, stock options and warrants. There were no potentially dilutive common shares outstanding for the periods presented. |
Revenue Recognition | Revenue Recognition The Company’s revenue recognition policies will follow FASB 606, “Revenue from Contracts with Customers”. The core principle of ASC 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. An entity recognizes revenue in accordance with that core principle by applying the following steps: Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the performance obligations in the contract. Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. An entity must also disclose sufficient information to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers, including qualitative and quantitative information about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. |
Income Taxes | Income Taxes The Company follows the asset and liability method of accounting for income taxes under FASB ASC 740, “Income Taxes.” Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the 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 income in the period that includes the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. |
Foreign Currency | Foreign Currency The Company’s functional and reporting currency is the U.S. dollar. Transactions may occur in foreign currencies and management follows ASC 830, “Foreign Currency Matters”. Monetary assets and liabilities denominated in foreign currencies are translated using the exchange rate prevailing at the balance sheet date. Non-monetary assets and liabilities denominated in foreign currencies are translated at rates of exchange in effect at the date of the transaction. Average monthly rates are used to translate revenues and expenses. Gains and losses arising on translation or settlement of foreign currency denominated transactions or balances are included in the Statement of Operations. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements |