Cover
Cover - shares | 9 Months Ended | |
Sep. 30, 2020 | Nov. 12, 2020 | |
Cover [Abstract] | ||
Entity Registrant Name | Stark Focus Group, Inc. | |
Entity Central Index Key | 0001794942 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Entity Small Business | true | |
Entity Shell Company | false | |
Entity Emerging Growth Company | false | |
Entity Current Reporting Status | Yes | |
Document Period End Date | Sep. 30, 2020 | |
Entity Filer Category | Non-accelerated Filer | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2020 | |
Entity Common Stock Shares Outstanding | 10,220,830 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity Interactive Data Current | Yes |
Consolidated Balance Sheet
Consolidated Balance Sheet - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Current Assets | ||
Cash & Cash Equivalents | $ 13,875 | $ 30,320 |
Prepaid Expenses | 0 | 7,522 |
TOTAL ASSETS | 13,875 | 37,842 |
Current Liabilities | ||
Accounts payable and accrued expenses | 7,440 | 1,794 |
Due to related party | 25,667 | 0 |
Total Liabilities | 33,107 | 1,794 |
Stockholders' Equity | ||
Common stock, ($0.0001 par value, 100,000,000 shares authorized 10,220,830 as of March 31, 2020 and December 31, 2019 | 1,022 | 1,022 |
Additional Paid in Capital | 43,026 | 43,026 |
Retained Earnings | (63,280) | (8,000) |
Total Stockholders' Equity | (19,232) | 36,048 |
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY | $ 13,875 | $ 37,842 |
Consolidated Balance Sheet (Par
Consolidated Balance Sheet (Parenthetical) - $ / shares | Sep. 30, 2020 | Dec. 31, 2019 |
Shareholders' deficit | ||
Preferred stock, shares authorized | 100,000,000 | 100,000,000 |
Preferred stock, shares par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares issued | 10,220,830 | 10,220,830 |
Preferred stock, shares outstanding | 10,220,830 | 10,220,830 |
Consolidated Statement of Opera
Consolidated Statement of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Mar. 31, 2020 | |
Consolidated Statement of Operations (Unaudited) | |||||
Revenue | $ 25,400 | $ 0 | $ 44,288 | $ 0 | $ 70,352 |
Cost of Revenue | 19,824 | 0 | 35,402 | 0 | 58,338 |
Gross Profit | 5,576 | 0 | 8,886 | 0 | 12,014 |
Selling, General & Administrative Expenses | 12,565 | 955 | 64,166 | 1,868 | 75,294 |
Income / (loss) from operations | (6,989) | (955) | (55,280) | (1,868) | (63,280) |
Net Income/ (Loss) | $ (6,989) | $ (955) | $ (55,280) | $ (1,868) | $ (63,280) |
Basic and diluted earnings per share | $ 0 | $ 0 | $ (0.01) | $ 0 | |
Weighted average number of common shares outstanding | 10,220,830 | 2,357,134 | 10,220,830 | 2,211,119 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Stockholders' Equity (Unaudited) - USD ($) | Total | Common Stock | Additional Paid-In Capital | Retained Earnings |
Balance, shares at Apr. 10, 2019 | 8,000,000 | |||
Balance, amount at Apr. 10, 2019 | $ 1,282 | $ 800 | $ 482 | $ 0 |
Effect of acquisition on September 27, 2019, shares | 2,220,830 | |||
Effect of acquisition on September 27, 2019, amount | 42,766 | $ 222 | 42,544 | 0 |
Net profit (loss) | (8,000) | $ 0 | 0 | (8,000) |
Balance, shares at Dec. 31, 2019 | 10,220,830 | |||
Balance, amount at Dec. 31, 2019 | 36,048 | $ 1,022 | 43,026 | (8,000) |
Net profit (loss) | (55,280) | $ 0 | 0 | (55,280) |
Balance, shares at Sep. 30, 2020 | 10,220,830 | |||
Balance, amount at Sep. 30, 2020 | $ (19,232) | $ 1,022 | $ 43,026 | $ (63,280) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income (loss) | $ (55,280) | $ (1,868) |
Changes in operating assets and liabilities: | ||
Prepaid expenses | 7,522 | 0 |
Accounts payable and accrued expenses | 5,646 | 392 |
Net cash provided by (used in) operating activities | (42,112) | (1,476) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Advance from related party | 25,667 | 0 |
Share issuance | 0 | 8,620 |
Net cash provided by (used in) financing activities | 25,667 | 8,620 |
Net increase (decrease) in cash | (16,445) | 7,144 |
Cash at beginning of period | 30,320 | 37,112 |
Cash at end of period | 13,875 | 44,256 |
Cash paid during year for: | ||
Interest | 0 | 0 |
Income Taxes | $ 0 | $ 0 |
ORGANIZATION AND DESCRIPTION OF
ORGANIZATION AND DESCRIPTION OF BUSINESS | 9 Months Ended |
Sep. 30, 2020 | |
ORGANIZATION AND DESCRIPTION OF BUSINESS | |
NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS | Stark Focus Group, Inc. (the “Company”) was incorporated under the laws of the State of Nevada on July 3, 2018. The Company was formed to engage in the development and operation of a business engaged in the supply and distribution of niche apparel products to markets worldwide. On September 27, 2019, Stark Focus Group acquired 100% interest of Common Design Limited of Hong Kong (“Common Design”) as its wholly owned subsidiary. Common Design is a start-up wholesale clothing supplier, established on April 10, 2019 in Hong Kong, specializing in the supply and trading of niche apparel for distribution to markets worldwide. With operating headquarter located in Hong Kong, Common Design designs, sources, and markets a diverse portfolio of dress up, casual and athletic apparel products to its global clients, while maintaining close relationships with its suppliers and manufacturers to ensure competitive pricing and quality management. |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 9 Months Ended |
Sep. 30, 2020 | |
ORGANIZATION AND DESCRIPTION OF BUSINESS | |
NOTE 2 - BASIS OF PRESENTATION | On September 27, 2019, the Company issued 8,000,000 common stock to acquire 100% interest of Common Design as its wholly owned subsidiary. The transaction results in Common Design’s shareholders taking control of the Company by voting rights through 78.27% of ownership interest, thus considered as the accounting acquirer according to guidance in the Accounting Standards Codification (“ASC”) 805-10. As a result, these interim consolidated financial statements are presented as a continuation of Common Design’s financial statements with the assets and liabilities of the Common Design presented at their historical carrying values and the assets and liabilities of the Stark Focus Group, Inc. recognized on the date of the transaction. The Company’s interim consolidated financial statements included herein are prepared under the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. These condensed interim consolidated financial statements include the Company’s wholly owned subsidiary, Common Design Limited., and 100 percent of its assets, liabilities and net income or loss. All inter-company accounts and transactions have been eliminated. While the information presented in the accompanying interim consolidated financial statements is unaudited, it includes all adjustments, which are, in the opinion of management, necessary to present fairly the financial position, results of operation and cash flows for the interim periods presented. All adjustments are of a normal recurring nature. Operating results for the period ended September 30, 2020 are not necessarily indicative of the results that can be expected for the year ended December 31, 2020. The Company has a December 31, year-end. Functional and Presentation Currency The Company’s foreign operations are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”). The Company uses US Dollars as its functional and presentation currency. As of September 30, 2020, the Company has cash of $13,875 out of which $431 was denominated in Canadian Dollars which was translated at the year-end spot rate of 1.3339 CAD to 1 USD. |
GOING CONCERN
GOING CONCERN | 9 Months Ended |
Sep. 30, 2020 | |
GOING CONCERN | |
NOTE 3 - GOING CONCERN | These condensed consolidated interim financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Corporation and its subsidiaries will be able to meet its obligations and continue its operations for next fiscal year. Realization values may be substantially different from carrying values as shown and these condensed consolidated interim financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Corporation be unable to continue as a going concern. At September 30, 2020, the Company had $13,875 in cash and there were outstanding liabilities of $33,107. Management does not believe that the company’s current cash position is sufficient to cover the expenses they will incur during the next twelve months. In addition, the recent outbreak of the novel coronavirus, commonly referred to as "COVID-19", in China and throughout the world is expected to adversely affect the economic conditions in Asia and throughout the world, and could adversely affect our business, results of operations and financial condition. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses. The Company intends to position itself so that it will be able to raise additional funds through the capital markets. In light of management’s efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern. These financial statements do not include any adjustments related to the recovery or classification of assets or the amounts and classifications of liabilities that might be necessary should the company be unable to continue as going concern. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Sep. 30, 2020 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
NOTE 4 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | a. Use of Estimates and Assumptions 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. Actual results could differ from those estimates. Due to the limited level of operations, the Company has not had to make material assumptions or estimates other than the assumption that the Company is a going concern. b. Fair Value of Financial Instruments ASC 825, “Disclosures about Fair Value of Financial Instruments”, requires disclosure of fair value information about financial instruments. ASC 820, “Fair Value Measurements” defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of June 30, 2020. Due to the effect of COVID-19, certain financial assets and liabilities may not longer have inputs to justify its fair value level classification in the fair value hierarchy. In these cases, the Company may be required to use different inputs or sources of input to reclassify fair value measurements. However, COVID-19’s current and foreseeable impact on the Company’s fair value measurement is immaterial as the fair values of the Company’s financial instruments were assumed to approximate carrying values of on-balance-sheet financial instruments since they are short term in nature. These financial instruments include cash and related party loan payable. c. Earnings per Share ASC No. 260, “Earnings Per Share”, specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock. The Company has adopted the provisions of ASC No. 260. Basic net loss per share amounts is computed by dividing the net loss by the weighted average number of common shares outstanding. Diluted earnings per share are the same as basic earnings per share due to the lack of dilutive items in the Company. d. Cash and Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. e. Income Taxes Income taxes are provided in accordance with ASC No. 740, Accounting for Income Taxes. A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carry forwards. Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of all of the deferred tax assets will be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. f. Revenue Recognition The Company will recognize revenue in accordance with ASC topic 605 “Revenue Recognition” - when all goods and services have been performed and delivered, the amounts are readily determinable, and collection is reasonably assured. g. Cost of Sales Amounts that will be recorded as cost of sales relate to direct expenses incurred in order to fulfill orders of our customers. Such costs are recorded and allocated as incurred. Our cost of sales will consist primarily of the cost of product and shipping expenses. h. Fixed Assets Fixed assets are stated at cost, net of accumulated depreciation and accumulated impairment losses, (if any). The Company utilizes straight-line depreciation over the estimated useful life of the asset. Property – 40 years Office Equipment – 5 years i. Foreign Currency Translation and Balances Transactions in foreign currencies are initially recorded by the Company at their respective functional currency rates prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot rate of exchange at the reporting date. Exchange gains or losses arising from translation are recognized in the statement of operation. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rates as at the dates of the initial transactions. Non-monetary items measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value is determined. Foreign operations The assets and liabilities of foreign operations are translated to U.S. dollars at exchange rates at the reporting date. The income and expenses of foreign operations are translated into U.S. dollars at exchange rates at the dates of the transactions. Foreign currency differences are recognized in other comprehensive income in the accumulated other comprehensive income (loss). Foreign exchange gains or losses arising from a monetary item receivable from or payable to a foreign operation, the settlement of which is neither planned nor likely to occur in the foreseeable future and which in substance is considered to form part of the net investment in the foreign operation, are recognized in other comprehensive income in the cumulative amount of foreign currency translation differences. j. Recently Issued Accounting Guidance The Company has evaluated all the recent accounting pronouncements through the date the financial statements were issued and filed with the Securities and Exchange Commission and believe that none of them will have a material effect on the company’s financial statements. |
BUSINESS ACQUISITION
BUSINESS ACQUISITION | 9 Months Ended |
Sep. 30, 2020 | |
ORGANIZATION AND DESCRIPTION OF BUSINESS | |
NOTE 5 - BUSINESS ACQUISITION | On September 27, 2019, the Company issued 8,000,000 common stock to acquire 100% interest of Common Design as its wholly owned subsidiary. The transaction results in Common Design’s shareholders taking control of the Company by voting rights through 78.27% of ownership interest. As a result, Common Design, being the legal acquiree, is considered as the accounting acquirer according to guidance in the Accounting Standards Codification (“ASC”) 805-10. As the Company, being the accounting acquiree, does not meet the definition of a business according to ASC 805-10, the transaction is accounted for in accordance to ASC 805-50 as an acquisition of assets. The net assets acquired was the fair value of the net assets of Stark Focus Group, Inc., which on September 23, 2019 was $42,408. The amount was calculated as follow: Cash $ 44,313 Payables $ (396 ) Other current liabilities $ (1,509 ) Net assets $ 42,408 |
RELATED-PARTY TRANSACTIONS
RELATED-PARTY TRANSACTIONS | 9 Months Ended |
Sep. 30, 2020 | |
RELATED-PARTY TRANSACTIONS | |
NOTE 6 - RELATED-PARTY TRANSACTIONS | As of September 30, 2020, amount due to related parties was $25,667, which were unsecured, non-interest bearing advance from related parties with no specific repayment terms. |
SHARE CAPITAL
SHARE CAPITAL | 9 Months Ended |
Sep. 30, 2020 | |
SHARE CAPITAL | |
NOTE 7 - SHARE CAPITAL | On July 3, 2018, the Company incorporated with a seed capital of $31 (CAD$40) for 200,000 common stock. On December 28, 2018, the Company closed a private placement and issued 1,643,000 common stock for gross proceeds of $37,943 (CAD$49,290). On August 8, 2019, 330,000 of these common stocks were cancelled due to the withdrawal of subscription, resulting in a reduction of $7,621 (CAD$9,900) in share equity. On February 28, 2019, the Company closed a private placement and issued 707,830 common stock for gross proceeds of $16,108 (CAD$21,235). On September 27, 2019, the Company issued 8,000,000 common stock to acquire 100% interest of Common Design as its wholly owned subsidiary (See Note 4). As of September 30, 2020, the Company had 10,220,830 shares of common stock issued and outstanding. |
WARRANTS AND OPTIONS
WARRANTS AND OPTIONS | 9 Months Ended |
Sep. 30, 2020 | |
WARRANTS AND OPTIONS | |
NOTE 8 - WARRANTS AND OPTIONS | There are no warrants or options outstanding to acquire any additional shares of common. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 9 Months Ended |
Sep. 30, 2020 | |
COMMITMENTS AND CONTINGENCIES | |
NOTE 9 - COMMITMENTS AND CONTINGENCIES | The Company has no commitments and contingencies liabilities to be disclosed. |
CONCENTRATIONS
CONCENTRATIONS | 9 Months Ended |
Sep. 30, 2020 | |
GOING CONCERN | |
NOTE 10 - CONCENTRATIONS | Initial sales are concentrated with one client. Sales are made without collateral and the credit-related losses are insignificant or non-existent. Accordingly, there is no provision made to include an allowance for doubtful accounts (if any). |
LEGAL MATTERS
LEGAL MATTERS | 9 Months Ended |
Sep. 30, 2020 | |
LEGAL MATTERS | |
NOTE 11 - LEGAL MATTERS | The Company has no known legal issues pending. |
SUBSEQUENT EVENT
SUBSEQUENT EVENT | 9 Months Ended |
Sep. 30, 2020 | |
SUBSEQUENT EVENT | |
NOTE 12 - SUBSEQUENT EVENT | In accordance with ASC 855-10 management has performed an evaluation of subsequent events from September 30, 2020 through the date the financial statements were issued and has determined that it does not have any material subsequent events to disclose in these financial statements. |
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Sep. 30, 2020 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Use of Estimates and Assumptions | 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. Actual results could differ from those estimates. Due to the limited level of operations, the Company has not had to make material assumptions or estimates other than the assumption that the Company is a going concern. |
Fair Value of Financial Instruments | ASC 825, “Disclosures about Fair Value of Financial Instruments”, requires disclosure of fair value information about financial instruments. ASC 820, “Fair Value Measurements” defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of June 30, 2020. Due to the effect of COVID-19, certain financial assets and liabilities may not longer have inputs to justify its fair value level classification in the fair value hierarchy. In these cases, the Company may be required to use different inputs or sources of input to reclassify fair value measurements. However, COVID-19’s current and foreseeable impact on the Company’s fair value measurement is immaterial as the fair values of the Company’s financial instruments were assumed to approximate carrying values of on-balance-sheet financial instruments since they are short term in nature. These financial instruments include cash and related party loan payable. |
Earnings per Share | ASC No. 260, “Earnings Per Share”, specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock. The Company has adopted the provisions of ASC No. 260. Basic net loss per share amounts is computed by dividing the net loss by the weighted average number of common shares outstanding. Diluted earnings per share are the same as basic earnings per share due to the lack of dilutive items in the Company. |
Cash and Equivalents | The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. |
Income Taxes | Income taxes are provided in accordance with ASC No. 740, Accounting for Income Taxes. A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carry forwards. Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of all of the deferred tax assets will be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. |
Revenue Recognition | The Company will recognize revenue in accordance with ASC topic 605 “Revenue Recognition” - when all goods and services have been performed and delivered, the amounts are readily determinable, and collection is reasonably assured. |
Cost of Sales | Amounts that will be recorded as cost of sales relate to direct expenses incurred in order to fulfill orders of our customers. Such costs are recorded and allocated as incurred. Our cost of sales will consist primarily of the cost of product and shipping expenses. |
Fixed Assets | Fixed assets are stated at cost, net of accumulated depreciation and accumulated impairment losses, (if any). The Company utilizes straight-line depreciation over the estimated useful life of the asset. Property – 40 years Office Equipment – 5 years |
Foreign Currency Translation and Balances | Transactions in foreign currencies are initially recorded by the Company at their respective functional currency rates prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot rate of exchange at the reporting date. Exchange gains or losses arising from translation are recognized in the statement of operation. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rates as at the dates of the initial transactions. Non-monetary items measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value is determined. Foreign operations The assets and liabilities of foreign operations are translated to U.S. dollars at exchange rates at the reporting date. The income and expenses of foreign operations are translated into U.S. dollars at exchange rates at the dates of the transactions. Foreign currency differences are recognized in other comprehensive income in the accumulated other comprehensive income (loss). Foreign exchange gains or losses arising from a monetary item receivable from or payable to a foreign operation, the settlement of which is neither planned nor likely to occur in the foreseeable future and which in substance is considered to form part of the net investment in the foreign operation, are recognized in other comprehensive income in the cumulative amount of foreign currency translation differences. |
Recently Issued Accounting Guidance | The Company has evaluated all the recent accounting pronouncements through the date the financial statements were issued and filed with the Securities and Exchange Commission and believe that none of them will have a material effect on the company’s financial statements. |
BUSINESS ACQUISITION (Tables)
BUSINESS ACQUISITION (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
ORGANIZATION AND DESCRIPTION OF BUSINESS | |
Schedule of fair value net assets | Cash $ 44,313 Payables $ (396 ) Other current liabilities $ (1,509 ) Net assets $ 42,408 |
BASIS OF PRESENTATION (Details
BASIS OF PRESENTATION (Details Narrative) - USD ($) | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 27, 2019 | Jul. 03, 2018 | |
Common stock shares issued | 8,000,000 | 200,000 | |
Equity method investment ownership | 100.00% | ||
Common stock voting rights ownership interest | 78.27% | ||
Cash | $ 13,875 | ||
Functional and Presentation Currency [Member] | |||
Cash | 13,875 | ||
Currency denominated | $ 431 | ||
Description of currency denominated | Canadian Dollars which was translated at the year-end spot rate of 1.3339 CAD to 1 USD. |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) | Sep. 30, 2020USD ($) |
GOING CONCERN | |
Cash | $ 13,875 |
Outstanding liabilities | $ 33,107 |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) | 9 Months Ended |
Sep. 30, 2020 | |
Property [Member] | |
Property plant and equipment useful life | 40 years |
Office equipment [Member] | |
Property plant and equipment useful life | 5 years |
BUSINESS ACQUISITION (Details)
BUSINESS ACQUISITION (Details) | Sep. 30, 2020USD ($) |
Cash | $ 13,875 |
Business Acquisition [Member] | Fair value net assets [Member] | |
Cash | 44,313 |
Payables | (396) |
Other current liabilities | (1,509) |
Net assets | $ 42,408 |
BUSINESS ACQUISITION (Details N
BUSINESS ACQUISITION (Details Narrative) - USD ($) | 1 Months Ended | ||
Sep. 23, 2019 | Sep. 27, 2019 | Jul. 03, 2018 | |
Common stock shares issued | 8,000,000 | 200,000 | |
Equity method investment ownership | 100.00% | ||
Common stock voting rights ownership interest | 78.27% | ||
Business Acquisition [Member] | Fair value net assets [Member] | |||
Common stock shares issued | 8,000,000 | ||
Equity method investment ownership | 100.00% | ||
Common stock voting rights ownership interest | 78.27% | ||
Fair value of assets acquired | $ 42,408 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
RELATED PARTY TRANSACTIONS (Details Narrative) | ||
Due to related parties | $ 25,667 | $ 0 |
SHARE CAPITAL (Details Narrativ
SHARE CAPITAL (Details Narrative) - USD ($) | Jul. 03, 2018 | Aug. 08, 2019 | Feb. 28, 2019 | Dec. 28, 2018 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 27, 2019 |
Common stock shares issued | 200,000 | 8,000,000 | |||||
Proceeds from issuance of common stock | $ 31 | $ 0 | $ 8,620 | ||||
Equity method investment ownership | 100.00% | ||||||
Private Placement [Member] | |||||||
Common stock shares issued | 707,830 | 1,643,000 | 10,220,830 | 8,000,000 | |||
Common stock shares outstanding | 10,220,830 | ||||||
Equity method investment ownership | 100.00% | ||||||
Common stock shares cancelled | 330,000 | ||||||
Common stock shares reduction | $ 7,621 | ||||||
Gross proceeds from issuance of private placement | $ 16,108 | $ 37,943 |