Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Apr. 30, 2021 | Sep. 24, 2021 | Oct. 30, 2020 | |
Document Information Line Items | |||
Entity Registrant Name | Liaoning Shuiyun Qinghe Rice Industry Co., Ltd. | ||
Document Type | 10-K | ||
Current Fiscal Year End Date | --04-30 | ||
Entity Common Stock, Shares Outstanding | 7,350,540 | ||
Entity Public Float | $ 91,690 | ||
Amendment Flag | false | ||
Entity Central Index Key | 0000710782 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Well-known Seasoned Issuer | No | ||
Document Period End Date | Apr. 30, 2021 | ||
Document Fiscal Year Focus | 2021 | ||
Document Fiscal Period Focus | FY | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | true | ||
Entity File Number | 000-30432 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Interactive Data Current | Yes |
Balance Sheets
Balance Sheets - USD ($) | Apr. 30, 2021 | Apr. 30, 2020 |
CURRENT ASSETS: | ||
Cash | $ 785 | $ 785 |
TOTAL CURRENT ASSETS | 785 | 785 |
TOTAL ASSETS | 785 | 785 |
CURRENT LIABILITIES: | ||
Accounts payable and accrued liabilities | 26,503 | 17,696 |
Accounts payable and accrued liabilities - related parties | 41,486 | 61,839 |
TOTAL CURRENT LIABILITIES | 67,989 | 79,535 |
Commitments and contingencies | ||
STOCKHOLDERS’ DEFICIT: | ||
Preferred stock ($.001 par value; 1,000,000 shares authorized; 0 shares issued and outstanding) | ||
Common stock ($.001 par value; 100,000,000 shares authorized; 7,350,540 shares issued and outstanding) | 7,350 | 7,350 |
Additional paid-in capital | 2,252,483 | 2,190,644 |
Accumulated deficit | (2,327,037) | (2,276,744) |
TOTAL STOCKHOLDERS’ DEFICIT | (67,204) | (78,750) |
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT | $ 785 | $ 785 |
Balance Sheets (Parentheticals)
Balance Sheets (Parentheticals) - $ / shares | Apr. 30, 2021 | Apr. 30, 2020 |
Statement of Financial Position [Abstract] | ||
Preferred stock par value (in Dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock par value (in Dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 7,350,540 | 7,350,540 |
Common stock, shares outstanding | 7,350,540 | 7,350,540 |
Statements of Operations
Statements of Operations - USD ($) | 12 Months Ended | |
Apr. 30, 2021 | Apr. 30, 2020 | |
Income Statement [Abstract] | ||
Revenues | ||
Operating Expenses: | ||
Accounting fees | 25,179 | 33,956 |
Other general and administrative | 25,114 | 14,008 |
Total Operating Expenses | 50,293 | 47,964 |
Loss from Operations | (50,293) | (47,964) |
Net Loss | $ (50,293) | $ (47,964) |
Net loss per common share, basic and diluted (in Dollars per share) | $ (0.01) | $ (0.01) |
Weighted average number of common shares outstanding: | ||
Basic and diluted (in Shares) | 7,350,540 | 7,350,540 |
Statements of Changes in Stockh
Statements of Changes in Stockholders’ Deficit - USD ($) | Common Stock | Additional Paid-in Capital | Accumulated Deficit | Total |
Balance at Apr. 30, 2019 | $ 7,350 | $ 2,190,644 | $ (2,228,780) | $ (30,786) |
Balance (in Shares) at Apr. 30, 2019 | 7,350,540 | |||
Net loss | (47,964) | (47,964) | ||
Balance at Apr. 30, 2020 | $ 7,350 | 2,190,644 | (2,276,744) | (78,750) |
Balance (in Shares) at Apr. 30, 2020 | 7,350,540 | |||
Conversion of related party payable to equity | 61,839 | 61,839 | ||
Net loss | (50,293) | (50,293) | ||
Balance at Apr. 30, 2021 | $ 7,350 | $ 2,252,483 | $ (2,327,037) | $ (67,204) |
Balance (in Shares) at Apr. 30, 2021 | 7,350,540 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
Apr. 30, 2021 | Apr. 30, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (50,293) | $ (47,964) |
Changes in operating assets and liabilities: | ||
Increase in accounts payable and accrued liabilities | 8,807 | 6,470 |
Increase in accounts payable and accrued liabilities - related parties | 41,486 | 41,494 |
NET CASH USED IN OPERATING ACTIVITIES | ||
NET INCREASE IN CASH | ||
Cash, beginning of year | 785 | 785 |
Cash, end of year | 785 | 785 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||
Cash paid for interest | ||
Cash paid for income tax | ||
NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||
Conversion of related party payable to equity | $ 61,839 |
Organization and Summary of Sig
Organization and Summary of Significant Accounting Policies | 12 Months Ended |
Apr. 30, 2021 | |
Accounting Policies [Abstract] | |
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | Organization and Description of Business Liaoning Shuiyun Qinghe Rice Industry Co., Ltd. (“Shuiyun Qinghe”, “we”, “our” or “the Company”) (formerly knowns as Arbor Entech Corporation and Evergreen International Corp ., , On June 22, 2018, the Company entered into a Stock Purchase Agreement (the “SPA”) with a third party (the “Purchaser”) and certain selling stockholders, including the Company’s controlling stockholders ( all of the selling stockholders, collectively, On July 6, 2018, the Board of Directors of the Company (i) declared a cash dividend in an aggregate amount of $181,996, or an average of $0.024760 per share, payable to stockholders of record on July 16, 2018, and (ii) approved an amendment to the Company’s Certificate of Incorporation to change the Company’s name to Evergreen International Corp., which amendment was filed with the Secretary of State of the State of Delaware on July 13, 2018 and became effective on July 20, 2018. On July 27, 2018, the transaction contemplated by the SPA closed and the Purchaser acquired the Shares for a cash consideration of $325,000. The consummation of the transactions contemplated by the SPA resulted in a change of control of the Company. On October 20, 2020, Jianguo Wei, our former Chief Executive Officer, President, Treasurer and Director, entered into an Acquisition Agreement with Shanghai Yuyue Enterprise Management Consulting Co., Ltd. (“SYEM”) pursuant to which Mr. Wei agreed to sell all 7,258,750 shares held by Tan Ying Lok, constituting approximately 98.75% of the Company, to SYEM for aggregate cash consideration of $200,000. Mr. Wei was authorized to enter into the Acquisition Agreement on behalf of Mr. Lok pursuant to an Authorization Letter dated October 20, 2020. The acquisition consummated October 20, 2020, and the parties are in the process of transferring the securities to SYEM, which is expected to be completed in October 2021. In connection with the sale of securities to SYEM, Mr. Jianguo Wei resigned from all his positions with the Company, and Mr. He Baobing and Mr. Cui Weinming were appointed as the Company’s Directors as well as Chief Executive Officer and Chief Financial Officer, respectively, effective October 20, 2020. On October 22, 2020, the Board and the majority stockholder took action by written consent to approve an amendment to the Company’s Articles of Incorporation to change its corporate name to Liaoning Shuiyun Qinghe Rice Industry Co., Ltd. and to change the ticker symbol of the Common Stock to SYQH. These changes were completed in February 2021. Currently, the Company only possesses minimal assets and liabilities with no substantial business operations. There were no significant revenues or positive cash flows for the years ended April 30, 2021 and 2020. The Company’s management efforts are focused on seeking out a new and profitable operating business with strong growth potential. Unless and until the Company’s successful acquisition of an operating business, we expect our expenses to consist of legal fees, accounting fees, and administrative costs related to maintaining a public company. Basis of Presentation The accompanying financial statements for Liaoning Shuiyun Qinghe Rice Industry Co., Ltd. have been prepared in accordance with accounting principles generally accepted In the United States of America and in accordance with Regulation S-X promulgated by the Securities and Exchange Commission. Cash and Cash Equivalents The Company considers all highly liquid short-term investments with a maturity of three months or less at time of purchase to be cash equivalents. There were no cash equivalents as of April 30, 2021 and 2020. 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, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. Income Taxes Income taxes are provided in accordance with ASC 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. Loss Per Share The basic computation of loss per share is based on the weighted average number of shares outstanding during the period presented in accordance with ASC 260, “Earnings Per Share”. Since the Company has no common stock equivalents, diluted loss per share is the same as basic loss per share. Fair Value of Financial Instruments The fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC Topic 820, “Fair Value Measurement,” approximates the carrying amounts represented in the accompanying financial statements, primarily due to their short-term nature. Concentration of Credit Risk The Company does not have financial instruments that potentially subject the Company to concentration of credit. The Company has not experienced losses and management believes the Company is not exposed to significant credit risks. Going Concern Risk As reflected in the accompanying financial statements, the Company had working capital deficit of $67,204 at April 30, 2021 and has incurred recurring net loss of $50,293 for the year ended April 30, 2021. The Company has no current operating activities. These factors raise substantial doubt about the Company’s ability to continue as a going concern. Management intends to fund the ongoing operations of the Company while seeking potential business acquisition opportunities. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Apr. 30, 2021 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 2 – RELATED PARTY TRANSACTIONS During the fiscal year ended April 30, 2020, the Company’s former CEO, , paid certain expenses on behalf of the Company. As of April 30, 2020, the Company had payables to this related party of $61,839. During the fiscal year ended April 30, 2021, the Company’s CEO, Baobing He, paid certain expenses on behalf of the Company. As of April 30, 2021, the Company had payables to this related party of $41,486. |
Income Taxes
Income Taxes | 12 Months Ended |
Apr. 30, 2021 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | NOTE 3 – INCOME TAXES For income tax purposes, the Company has available net operating loss carryforwards (“NOL”) at April 30, 2021 of approximately $633,000 expiring in various years from 2026 through 2042 to reduce state taxable income, if any. The Federal NOL generated will not expire due to NOLs having an indefinite life as enacted in the 2017 Tax Cuts and Jobs Act. The Company’s component of deferred tax assets as of April 30, 2021 and 2020 was as follows: April 30, April 30, Deferred tax assets Net operating loss carryforwards $ 196,000 $ 180,000 Total deferred tax assets, gross 196,000 180,000 Valuation allowance (196,000 ) (180,000 ) Total deferred tax assets, net $ - $ - Deferred tax liabilities $ - $ - Net deferred tax assets $ - $ - The Company has taken a 100% valuation allowance against the deferred tax assets attributable to the NOL carry-forwards and other temporary differences due to the uncertainty of realizing the future tax benefits. The difference in the Federal Statutory Rate of 21% and the state rate of approximately 10% and the Company’s effective tax rate of 0% is due to a valuation allowance against the deferred tax assets attributable to the net operating loss carryforwards for federal and state taxes. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 12 Months Ended |
Apr. 30, 2021 | |
Accounting Standards Update and Change in Accounting Principle [Abstract] | |
RECENT ACCOUNTING PRONOUNCEMENTS | NOTE 4 – RECENT ACCOUNTING PRONOUNCEMENTS Management does not believe there would have been a material effect on the accompanying financial statements had any recently issued, but not yet effective, accounting standards been adopted in the current period. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Apr. 30, 2021 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 5 – SUBSEQUENT EVENTS The Company has evaluated subsequent events from the balance sheet date through the date the financial statements were issued and has determined there are no additional events required to be disclosed. |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 12 Months Ended |
Apr. 30, 2021 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying financial statements for Liaoning Shuiyun Qinghe Rice Industry Co., Ltd. have been prepared in accordance with accounting principles generally accepted In the United States of America and in accordance with Regulation S-X promulgated by the Securities and Exchange Commission. |
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers all highly liquid short-term investments with a maturity of three months or less at time of purchase to be cash equivalents. There were no cash equivalents as of April 30, 2021 and 2020. |
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, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. |
Income Taxes | Income Taxes Income taxes are provided in accordance with ASC 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. |
Loss Per Share | Loss Per Share The basic computation of loss per share is based on the weighted average number of shares outstanding during the period presented in accordance with ASC 260, “Earnings Per Share”. Since the Company has no common stock equivalents, diluted loss per share is the same as basic loss per share. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC Topic 820, “Fair Value Measurement,” approximates the carrying amounts represented in the accompanying financial statements, primarily due to their short-term nature. |
Concentration of Credit Risk | Concentration of Credit Risk The Company does not have financial instruments that potentially subject the Company to concentration of credit. The Company has not experienced losses and management believes the Company is not exposed to significant credit risks. |
Going Concern Risk | Going Concern Risk As reflected in the accompanying financial statements, the Company had working capital deficit of $67,204 at April 30, 2021 and has incurred recurring net loss of $50,293 for the year ended April 30, 2021. The Company has no current operating activities. These factors raise substantial doubt about the Company’s ability to continue as a going concern. Management intends to fund the ongoing operations of the Company while seeking potential business acquisition opportunities. |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Apr. 30, 2021 | |
Income Tax Disclosure [Abstract] | |
Schedule of company’s component of deferred tax assets | April 30, April 30, Deferred tax assets Net operating loss carryforwards $ 196,000 $ 180,000 Total deferred tax assets, gross 196,000 180,000 Valuation allowance (196,000 ) (180,000 ) Total deferred tax assets, net $ - $ - Deferred tax liabilities $ - $ - Net deferred tax assets $ - $ - |
Organization and Summary of S_2
Organization and Summary of Significant Accounting Policies (Details) - USD ($) | Jul. 06, 2018 | Oct. 20, 2020 | Jun. 22, 2018 | Apr. 30, 2021 | Apr. 30, 2020 | Jul. 27, 2018 |
Organization and Summary of Significant Accounting Policies (Details) [Line Items] | ||||||
Working capital deficit | $ 67,204 | |||||
Net loss | $ (50,293) | $ (47,964) | ||||
Stock Purchase Agreement [Member] | ||||||
Organization and Summary of Significant Accounting Policies (Details) [Line Items] | ||||||
Acquire shares of common stock issued and outstanding percentage | 98.75% | |||||
$ 325,000 | ||||||
Board of Directors [Member] | ||||||
Organization and Summary of Significant Accounting Policies (Details) [Line Items] | ||||||
Description of cash dividend | (i) declared a cash dividend in an aggregate amount of $181,996, or an average of $0.024760 per share, payable to stockholders of record on July 16, 2018, and (ii) approved an amendment to the Company’s Certificate of Incorporation to change the Company’s name to Evergreen International Corp., which amendment was filed with the Secretary of State of the State of Delaware on July 13, 2018 and became effective on July 20, 2018. | |||||
Chief Executive Officer [Member] | ||||||
Organization and Summary of Significant Accounting Policies (Details) [Line Items] | ||||||
Description of cash dividend | pursuant to which Mr. Wei agreed to sell all 7,258,750 shares held by Tan Ying Lok, constituting approximately 98.75% of the Company, to SYEM for aggregate cash consideration of $200,000. Mr. Wei was authorized to enter into the Acquisition Agreement on behalf of Mr. Lok pursuant to an Authorization Letter dated October 20, 2020. |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) | 12 Months Ended | ||
Apr. 30, 2020 | Apr. 30, 2021 | Jan. 31, 2021 | |
Related Party Transactions [Abstract] | |||
Forgiveness of payable by related party | $ 61,839 | ||
Company owned amount | $ 61,839 | ||
Amount payable to related party | $ 41,486 |
Income Taxes (Details)
Income Taxes (Details) | 12 Months Ended |
Apr. 30, 2021USD ($) | |
Income Tax Disclosure [Abstract] | |
Net operating loss carryforwards (in Dollars) | $ 633,000 |
Valuation allowance against deferred asset | 100.00% |
Federal Statutory Rate | 21.00% |
State rate | 10.00% |
Company's effective tax rate | 0.00% |
Income tax, description | Company has available net operating loss carryforwards (“NOL”) at April 30, 2021 of approximately $633,000 expiring in various years from 2026 through 2042 to reduce state taxable income, if any. The Federal NOL generated will not expire due to NOLs having an indefinite life as enacted in the 2017 Tax Cuts and Jobs Act. |
Income Taxes (Details) - Schedu
Income Taxes (Details) - Schedule of company’s component of deferred tax assets - USD ($) | Apr. 30, 2021 | Apr. 30, 2020 |
Deferred tax assets | ||
Net operating loss carryforwards | $ 196,000 | $ 180,000 |
Total deferred tax assets, gross | 196,000 | 180,000 |
Valuation allowance | (196,000) | (180,000) |
Total deferred tax assets, net | ||
Deferred tax liabilities | ||
Net deferred tax assets |