10-Q

U.S. SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q

Mark One

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended May 31, 2017

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from           to           

Commission File No. 333-199210

LUBOA GROUP, INC.

(Exact name of registrant as specified in its charter)

Nevada	90-1007098
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification Number)
3 F, No. 102, Bo’ai 2nd Road Zuoying District Kaohsiung City Taiwan, R.O.C.	813
(Address of principal executive offices)	(Zip Code)

+886-75570551

(Registrant’s telephone number, including area code)

N/A

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) Yes ☒ No ☐, and (2) has been subject to such filing requirements for the past 90 days. Yes ☐ No ☒

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every, Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (Sec. 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☐ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer ☐	Accelerated Filer	☐
Non-accelerated filer     ☐	Smaller reporting company	☒
	Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☒ No ☐

As of July 14, 2017, the registrant had 11,600,000 shares of common stock outstanding.

	Table of Contents
Part I.	FINANCIAL INFORMATION	1
Item 1.	Condensed Unaudited Financial Statements	1
	Condensed Unaudited Balance Sheets	1
	Condensed Unaudited Statements of Operations	2
	Condensed Unaudited Statements of Cash Flows	3
	Notes to Condensed Unaudited Financial Statements	4
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	8
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	10
Item 4.	Controls and Procedures	10
Part II.	OTHER INFORMATION	11
Item 1.	Legal Proceedings	11
Item 1A.	Risk Factors	11
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	11
Item 3.	Defaults Upon Senior Securities	11
Item 4.	Mine Safety Disclosures	11
Item 5	Other Information	11
Item 6.	Exhibits	11

PART I. FINANCIAL INFORMATION

ITEM 1. CONDENSED UNAUDITED FINANCIAL STATEMENTS

LUBOA GROUP, INC.

BALANCE SHEETS

(UNAUDITED)

	May 31, 2017			August 31, 2016
	(Unaudited)			(Audited)
ASSETS
Current Assets
Prepaid expenses	$	3,333		$	833
Total current assets		3,333			833
Total Assets	$	3,333		$	833
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Current Liabilities
Loan from shareholder	$	71,005		$	28,187
Accounts payable		5,842			-
Accrued expense		1,078			100
Total current liabilities		77,925			28,287
Total Liabilities		77,925			28,287
Commitments and Contingencies		-			-
Stockholders’ Equity (Deficit)
Common stock, $0.001 par value, 75,000,000 shares authorized; 11,600,000 shares issued and outstanding		11,600			11,600
Additional paid-in-capital		37,829			37,829
Deficit accumulated during the development stage		(124,021	)		(76,883	)
Total Stockholders’ Equity (Deficit)		(74,592	)		(27,454	)
Total Liabilities and Stockholders’ Equity (Deficit)	$	3,333		$	833

The accompanying notes are an integral part of these financial statements

1

LUBOA GROUP, INC.

STATEMENTS OF OPERATIONS

(UNAUDITED)

	Three months ended						Nine months ended
	May 31, 2017			May 31, 2016			May 31, 2017			May 31, 2016
				(Restated)						(Restated)
Revenues	$	-		$	-		$	-		$	-
Operating expenses
General and administrative expenses		13,526			15,411			47,140			35,194
Net loss from operations		(13,526	)		(15,411	)		(47,140	)		(35,194	)
Loss before taxes		(13,526	)		(15,411	)		(47,140	)		(35,194	)
Provision for taxes
Net Loss	$	(13,526	)	$	(15,411	)	$	(47,140	)	$	(35,194	)
Loss per common share:
Basic and Diluted*	$	(0.01	)	$	(0.01	)	$	(0.01	)	$	(0.01	)
Weighted average number of common shares outstanding:
Basic and Diluted		11,600,000			11,600,000			11,600,000			11,600,000

The accompanying notes are an integral part of these financial statements

2

LUBOA GROUP, INC.

STATEMENTS OF CASH FLOWS

(UNAUDITED)

	Nine Months Ended
	May 31,
	2017			2016
				(Restated)
Operating Activities
Net loss	$	(47,140	)	$	(35,194	)
Adjustment to reconcile net loss to net cash used in operating activities
Depreciation & amortization		-			205
Changes in operating assets and liabilities
Prepaid expenses		(2,500	)		(3,183	)
Prepaid revenue		-
Accounts payable		5,842			-
Accrued expenses		978			-
Net cash used in operating activities		(42,820	)		(38,172	)
Investing Activities
Cash used to pay for fixed assets		-			-
Net cash provided by (used in) investing activities		-			-
Financing Activities
Proceeds from loan from shareholder		42,820			22,861
Repayment of shareholder loan					(2,054	)
Net cash provided by financing activities		42,820			20,807
Net increase in cash and equivalents	$	-		$	(17,365	)
Cash and equivalents at beginning of the period		-			17,365
Cash and equivalents at end of the period	$	-		$	-
Supplemental cash flow information:
Cash paid for:
Interest	$	-			-
Taxes	$	-			-
Significant non-cash transactions:
Discharged loan from shareholder		-		$	14,429

The accompanying notes are an integral part of these financial statements

3

LUBOA GROUP, INC.

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS
MAY 31, 2017

NOTE 1 – ORGANIZATION AND BUSINESS OPERATIONS

Organization and Description of Business

Luboa Group, Inc. (the “Company”), formerly known as Sunrise Tours, Inc., was incorporated under the laws of the State of Nevada on March 19, 2013 (“Inception”). On January 20, 2016, the Company filed a Certificate of Amendment with the Secretary of State of Nevada and changed its corporate name to “Luboa Group Inc.” Concurrent with the change of corporate name, the Company also changed its principal business plan from developing and offering special services such as 3D virtual tours for companies which would like to promote their venues on the Internet and electronic media, to developing specialized agricultural products and a carbon emission trading platform in Asia. However, as of May 31, 2017, no definitive agreement had been entered into in connection with the business plan. The Company’s principal headquarters is located in Kaohsiung City, Taiwan. From Inception through May 31, 2017, the Company accumulated losses of approximately $124,021.

In June 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-10, “Development Stage Entities”. The amendments in this update remove the definition of a development stage entity from the Master Glossary of the Accounting Standards Codification (“ASC”), thereby removing the financial reporting distinction between development stage entities and other reporting entities from generally accepted accounting principles in the United States of America (“U.S. GAAP”). In addition, the amendments eliminate the requirements for development stage entities to (1) present inception-to- date information in the statements of income, cash flows, and shareholder equity, (2) label the financial statements as those of a development stage entity, (3) disclose a description of the development stage activities in which the entity is engaged, and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage. The amendments in this update are applied retrospectively. The adoption of ASU 2014-10 removed the development stage entity financial reporting requirements for the Company.

NOTE 2 – GOING CONCERN

The Company has incurred loss since Inception resulting in accumulated deficit of approximately $124,021 as of May 31, 2017, and further losses are anticipated in the development of its business plan. Accordingly, there is substantial doubt about the Company’s ability to continue as a going concern.

The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and, or, obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with loans from related parties and/or the issuance of equity and debt securities.

NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying financial statements of the Company have been prepared without audit but in accordance with U.S. GAAP and are presented in U.S. dollars. The Company’s fiscal year-end is August 31. In the opinion of management, all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation of the financial statements have been included. Interim results are not necessarily indicative of results to be expected for the full year. The information included in this quarterly report on Form 10-Q should be read in conjunction with information included in the Company’s annual report on Form 10-K for the year ended August 31, 2016 (the “Annual Report”).

Cash and Cash Equivalents

For purposes of the accompanying statement of cash flows, the Company considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. The Company’s funds are deposited in insured institutions. The funds are insured for up to $250,000. At May 31, 2017, the Company’s funds did not exceed the insured amount.

Basic and Diluted Income (Loss) Per Share

The Company computes income (loss) per share in accordance with FASB ASC 260, “Earnings per Share”, which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive.

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For the three-month periods ended May 31, 2017 and 2016, there were no potentially dilutive debt or equity instruments issued or outstanding and any such shares would have been excluded from the computation because they would have been anti-dilutive as the Company incurred losses in these periods.

Fair Value of Financial Instruments

ASC 820, “Fair Value Measurements and Disclosures”, establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market.

These tiers include:

Level 1: defined as observable inputs such as quoted prices in active markets;

Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and

Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The carrying value of cash and the Company’s loan from a shareholder approximates its fair value due to their short-term maturity.

Income Taxes

The Company accounts for income taxes pursuant to FASB ASC 740 “Income Taxes”. Under ASC 740 deferred income taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The provision for income taxes represents the tax expense for the period, if any, and the change during the period in deferred tax assets and liabilities. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

ASC 740 also provides criteria for the recognition, measurement, presentation and disclosure of uncertain tax positions. Under ASC 740, the impact of an uncertain tax position on the income tax return may only be recognized at the largest amount that is more-likely-than-not to be sustained upon audit by the relevant taxing authority. At May 31, 2017, there were no unrecognized tax benefits.

Revenue Recognition

The Company will recognize revenue in accordance with ASC No. 605, “Revenue Recognition”. ASC-605 requires that four basic criteria must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed and determinable; and (4) collectability is reasonably assured. Determination of criteria (3) and (4) are based on management’s judgments regarding the fixed nature of the selling prices of the products delivered and the collectability of those amounts. Provisions for discounts and rebates to customers, estimated returns and allowances, and other adjustments are provided for in the same period the related sales are recorded. The Company will defer any revenue for which the product has not been delivered or is subject to refund until such time that the Company and the customer jointly determine that the product has been delivered or no refund will be required.

Advertising Costs

The Company’s policy regarding advertising is to expense advertising when incurred. The Company incurred advertising expense of $0 during the nine-month periods ended May 31, 2017 and 2016.

Recent Accounting Pronouncements

Management has reviewed all the recently issued, but not yet effective, accounting pronouncements, and does not believe any of these pronouncements will have a material impact on the Company.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP 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 the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.

5

Stock-Based Compensation

As of May 31, 2017, the Company had not issued any stock-based payments to its employees.

Stock-based compensation is accounted for at fair value in accordance with ASC 718, when applicable. To date, the Company has not adopted a stock option plan and has not granted any stock options.

NOTE 4 – COMMON STOCK

The Company has 75,000,000 shares of common stock authorized with a par value of $ 0.001 per share.

On September 23, 2013, the Company issued 9,000,000 shares at $0.001 per share for total proceeds of $9,000.

For the year ended August 31, 2016, the Company issued 2,600,000 shares at $0.01 per share for total proceeds of $26,000.

As at May 31, 2017, 11,600,000 shares of common stock were issued and outstanding. See Note 8 (Change of Control) regarding the January 8, 2016 transaction resulting in the ownership change as of approximately 77.59% of these common shares.

NOTE 5 – INCOME TAXES

As of May 31, 2017, the Company had net operating loss carry forwards of approximately $124,021 that may be available to reduce future years’ taxable income through 2036. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards.

NOTE 6 – PREPAID EXPENSES

On September 15, 2016, the Company prepaid $10,000 to OTC Market Group Inc. for its annual fee from November 1, 2016 to October 31, 2017. $3,333 of such amount is classified as prepaid expenses as of May 31, 2017.

NOTE 7 – LOAN FROM SHAREHOLDER

The Company relies on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of equity or debt securities. There is no formal written commitment for continued support from such related parties. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances are considered temporary in nature and have not been formalized by a promissory note.

From Inception through January 8, 2016, the Company’s then sole shareholder and director Alexander Karpetskiy loaned the Company $15,066 to pay for incorporation costs and operating expenses. The loan was non-interest bearing, due upon demand and unsecured. As of January 8, 2016, the amount outstanding was $14,429. As a result of the change of control described in Note 8, the entire unpaid balance of the loan was discharged by Mr. Karpetskiy.

Since January 14, 2016, a current director who is also one of the Company’s major shareholders has loaned the Company money to pay for operating expenses. As of May 31, 2017, the amount outstanding was $71,005. The loan is non-interest bearing, due upon demand and unsecured.

NOTE 8 – CHANGE OF CONTROL

On January 8, 2016 (the “Closing Date”), Mr. Karpetskiy entered into a Securities Purchase Agreement (the “SPA”) with Hsin-Nan Lin, pursuant to which Mr. Lin acquired from Mr. Karpetskiy all 9 million shares of the Company’s common stock owned by him. Pursuant to the SPA, all of the Company’s outstanding liabilities as of the Closing Date, including the outstanding balance of Mr. Karpetskiy’s loan, were fully paid by utilizing cash on hand (or discharged in the case of Mr. Karpetskiy’s loan). As a result, the Company was relieved of unpaid shareholder loan in the amount of $14,428, which is recorded by the Company as additional paid-in capital as of May 31, 2017.

NOTE 9 – SUBSEQUENT EVENTS

In accordance with ASC 855-10, the Company has analyzed its operations subsequent to May 31, 2017 to the date these financial statements were issued, and has determined that it does not have any material subsequent events to disclose in these financial statements.

6

NOTE 10 – RESTATEMENT

As described in the notes accompanying the Company’s audited financial statements included in the Annual Report, the Company’s unaudited financial statements as of May 31, 2016 and for the three-month and nine-month periods ended May 31, 2016, have been restated as follows:

	Restated, 5/31/2016		Original, 5/31/2016
Loan from shareholder	$	20,261	$	25,810
Accounts payable	$	-	$	343
General and administrative expenses for the three-month period ended	$	15,411	$	20,660
General and administrative expenses for the nine-month period ended	$	35,194	$	41,085
Deficit accumulated during the development stage	$	66,357	$	72,249

The purpose of the foregoing restatement is to correct the accounting treatment of activities related to certain prepaid deposit at a personal trust account made by one of the Company’s current director and major shareholders. The prepaid deposit was accounted for as part of the Company’s prepaid expenses in the unaudited financial statements for the quarter ended May 31, 2016. The revision also removed certain expenses incurred by the major shareholder in connection with the change of control transaction described in Note 8 from the statements of operations for the quarter ended May 31, 2016. The revision adjusted the account balances of the Company’s prepaid expenses loan from shareholder, accounts payable, general and administrative expenses, and deficit accumulated during the development stage for the period affected. In accordance with applicable U.S. GAAP, the Company calculated and recognized adjustments accordingly.

7

FORWARD LOOKING STATEMENTS

Statements made in this Form 10-Q that are not historical or current facts are “forward-looking statements” made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements often can be identified by the use of terms such as “may,” “will,” “expect,” “believe,” “anticipate,” “estimate,” “approximate” or “continue,” or the negative thereof. We intend that such forward-looking statements be subject to the safe harbors for such statements. We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management’s best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward- looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events.

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION

General

We were incorporated in the State of Nevada on March 19, 2013 under the name “Sunrise Tours, Inc.” On January 20, 2016, we amended our Articles of Incorporation and changed our name to “Luboa Group, Inc.” in connection with our business plan as described below. Our business office is located at 3 F, No. 102, Bo’ai 2nd Road, Zuoying District, Kaohsiung City, 813. Taiwan. Our telephone number is 886- 75570551.

Business Plan

Prior to our corporate name change on January 20, 2016, we planned to offer special service such as 3D virtual tours for companies which would like to promote their venues on the Internet, optical disks and hard and flash drives. Concurrent with our name change, we have changed our business plan to developing specialized agricultural products and a carbon emission trading platform in Asia. However, as of May 31, 2017, we have not entered into any definitive agreement in connection with our new business plan.

Results of Operations

As of May 31, 2017, we had total assets of $3,333 and total liabilities of $77,925. We anticipate that we will continue to incur substantial losses in the next 12 months. Our financial statements have been prepared assuming that we will continue as a going concern. We expect we will require additional capital to meet our long term operating requirements. We may raise additional capital through, among other things, sale of equity or debt securities.

Three-Month Period Ended May 31, 2017 compared to the Three-Month Period Ended May 31, 2016

Revenue

We did not generate any revenue during the three months ended May 31, 2017, or the same period of 2016.

Operating Expenses

During the three-month period ended May 31, 2017, we incurred general and administrative expenses of $13,526 as compared to $15,411 during the same period ended May 31, 2016. General and administrative expenses generally relate to corporate overhead, and professional and administrative services such as legal, accounting and regulatory expenses.

Net Income (Loss)

Our net loss for the three-month period ended May 31, 2017 was $13,526, as compared to a net loss of $15,411 during the same period ended May 31, 2016.

Nine-Month Period Ended May 31, 2017 compared to the Nine-Month Period Ended May 31, 2016

Revenue

We did not generate any revenue during the nine months ended May 31, 2017, or the same period of 2016.

8

Operating Expenses

During the nine-month period ended May 31, 2017, we incurred general and administrative expenses of $47,140, as compared to $35,194 during the same period ended May 31, 2016.

Net Loss

Our net loss for the nine-month period ended May 31, 2017 was $47,140, as compared to a net loss of $35,194 during the same period ended May 31, 2016.

Liquidity and Capital Resources

As of May 31, 2017

As at May 31, 2017, our current assets were $3,333 as compared to $833 at August 31, 2016. As at May 31, 2017, our current liabilities were $77,925 as compared to $28,287 at August 31, 2016.

Stockholders’ deficit was $74,592 as of May 31, 2017, as compared to $27,454 as of August 31, 2016.

Cash Flows from Operating Activities

We did not generate positive cash flows from operating activities.

For the nine months ended May 31, 2017, net cash flows used in operating activities was $42,820, consisting of net loss of $47,140, decreased by changes in prepaid expense of $2,500, and increased by a change in accounts payable of $5,842 and change in accrued expense of $978.

For the nine-months ended May 31, 2016, net cash flows used in operating activities was $38,172, consisting of net loss of $35,194, adjusted for non-cash amortization expense of $205, and decreased by change in prepaid expenses of $3,183.

Cash Flows from Investing Activities

Net cash used in investing activities during the nine-month periods ended May 31, 2017 and 2016 was $0.

Cash Flows from Financing Activities

We have financed our operations primarily from either loans from related parties or the issuance of equity and debt instruments.

9

For the nine-month period ended May 31, 2017, net cash flows provided by financing activities was $42,820 (cash proceeds of loan from a shareholder). For the nine-month period ended May 31, 2016, net cash flows provided by financing activities was $20,807, which included shareholder loan of $22,861, and cash repayment of a shareholder loan for $2,054.

Plan of Operations and Funding

We expect that our working capital requirements will continue to be funded through a combination of related party loans and issuances of securities. We have no lines of credit or other bank financing arrangements. Our working capital requirements are expected to increase if and when we are able to execute on our current business plan. As of May 31, 2017, we had working capital deficit of $74,592.

We expect to fund our operations over the next three months with further loans from related parties. In connection with our business plan, management anticipates additional increases in operating expenses and capital expenditures relating to: (i) developmental expenses associated with a start-up business and (ii) marketing expenses. Thereafter, we expect we will need to raise additional capital and generate revenues to meet long-term operating requirements. Additional issuances of equity or convertible debt securities will result in dilution to our current shareholders. Further, such securities might have rights, preferences or privileges senior to our common stock. Additional financing may not be available upon acceptable terms, or at all. If adequate funds are not available or are not available on acceptable terms, we may not be able to take advantage of prospective new business endeavors or opportunities, which could significantly and materially restrict our business operations.

Material Commitments

As of the date of this report, we do not have any material commitments.

Purchase of Significant Equipment

We do not intend to purchase any significant equipment during the next twelve months.

Off-balance Sheet Arrangements

As of the date of this report, we do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.

Going Concern

The independent auditors’ report accompanying our August 31, 2016 financial statements contains an explanatory paragraph expressing substantial doubt about our ability to continue as a going concern. The financial statements have been prepared “assuming that we will continue as a going concern,” which contemplates that we will realize our assets and satisfy our liabilities and commitments in the ordinary course of business.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

As a “smaller reporting company” as defined by Item 10 of Regulation S-K, we are not required to provide this information.

ITEM 4. CONTROLS AND PROCEDURES

Our management is responsible for establishing and maintaining a system of disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d- 15(e) under the Exchange Act) that is designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer’s management, including its principal executive officer or officers and principal financial officer or officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

An evaluation was conducted under the supervision and with the participation of our management of the effectiveness of the design and operation of our disclosure controls and procedures as of May 31, 2017. Based on that evaluation, our management concluded that our disclosure controls and procedures were effective as of such date to ensure that information required to be disclosed in the reports that we file or submit under the Exchange Act, is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms. Such officer also confirmed that there was no change in our internal control over financial reporting during the three-month period ended May 31, 2017 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

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PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

Management is not aware of any legal proceedings contemplated by any governmental authority or any other party involving us or our properties. As of the date of this report, no director, officer or affiliate is (i) a party adverse to us in any legal proceeding, or (ii) has an adverse interest to us in any legal proceedings. Management is not aware of any other legal proceedings pending or that have been threatened against us or our properties.

ITEM 1A. RISK FACTORS

As a smaller reporting company, we are not required to provide the information under this item.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

No unregistered shares were sold during the three-month period ended May 31, 2017.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None

ITEM 4. MINE SAFETY DISCLOSURES

The disclosures required by Item 4 are not applicable to us as we have no mining operations.

ITEM 5. OTHER INFORMATION

None

ITEM 6. EXHIBITS

Exhibits:

Exhibit
Number	Description
31.1 *	Certification of Chief Executive Officer pursuant to Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2 *	Certification of Chief Financial Officer pursuant to Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1 *	Certifications of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2 *	Certifications of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 101.INS XBRL Instance Document
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	XBRL Taxonomy Extension Label Linkbase Document
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document

* Filed herewith.

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SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	LUBOA GROUP, INC.
	(Registrant)
Dated: July 17, 2017	By:	/s/ Hsin-Nan Lin
		Hsin-Nan Lin,
		President and Chief Executive Officer
	By:	/s/ Chien-Hui Lin
		Chien-Hui Lin,
		Chief Financial Officer

12

EX-31.1

Exhibit 31.1

CERTIFICATION

I, Hsin-Nan Lin, President and Chief Executive Officer of LUBOA GROUP, INC., certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of LUBOA GROUP, INC.;

2. Based on my knowledge, this report does not contain any untrue statement of material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by quarterly report;

3. Based on my knowledge, the financial statements, and other financial information included in this Report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d- 15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) designed such disclosure controls and procedures, or caused such disclosure control and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known within those entities, particularly during the period in which this report is being prepared;

(b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;

(d) disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process summarize and report financial information; and

(b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: July 17, 2017

/s/ Hsin-Nan Lin

Hsin-Nan Lin,

President and Chief Executive Officer

EX-31.2

Exhibit 31.2

CERTIFICATION

I, Chien-Hui Lin, Chief Financial Officer of LUBOA GROUP, INC., certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of LUBOA GROUP, INC.;

2. Based on my knowledge, this report does not contain any untrue statement of material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by quarterly report;

3. Based on my knowledge, the financial statements, and other financial information included in this Report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d- 15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(e) designed such disclosure controls and procedures, or caused such disclosure control and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known within those entities, particularly during the period in which this report is being prepared;

(f) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(g) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;

(h) disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(c) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process summarize and report financial information; and

(d) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: July 17, 2017

/s/ Chien-Hui Lin

Chien-Hui Lin,

Chief Financial Officer

EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of LUBOA GROUP, INC. (the “Company”) on Form 10-Q for the period ended May 31, 2017 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), the undersigned, in the capacities and on the dates indicated below, hereby certifies pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to his knowledge:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: July 17, 2017

/s/ Hsin-Nan Lin

Hsin-Nan Lin,

President and Chief Executive Officer

EX-32.1

Exhibit 32.2

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350
AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of LUBOA GROUP, INC. (the “Company”) on Form 10-Q for the period ended May 31, 2017 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), the undersigned, in the capacities and on the dates indicated below, hereby certifies pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to his knowledge:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: July 17, 2017

/s/ Chien-Hui Lin

Chien-Hui Lin,

Chief Financial Officer

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Document and Entity Information - shares	9 Months Ended
	May 31, 2017	Jul. 14, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	LUBOA GROUP, INC.
Entity Central Index Key	0001586452
Amendment Flag	false
Current Fiscal Year End Date	--08-31
Document Type	10-Q
Trading Symbol	lbao
Document Period End Date	May 31, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q3
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		11,600,000

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Balance Sheets (Unaudited) - USD ($)	May 31, 2017	Aug. 31, 2016
Current Assets
Prepaid expenses	$ 3,333	$ 833
Total current assets	3,333	833
Total Assets	3,333	833
Current Liabilities
Loan from shareholder	71,005	28,187
Accounts payable	5,842
Accrued expense	1,078	100
Total current liabilities	77,925	28,287
Total Liabilities	77,925	28,287
Commitments and Contingencies
Stockholders' Equity (Deficit)
Common stock, $0.001 par value, 75,000,000 shares authorized; 11,600,000 shares issued and outstanding	11,600	11,600
Additional paid-in-capital	37,829	37,829
Deficit accumulated during the development stage	(124,021)	(76,883)
Total Stockholders' Equity (Deficit)	(74,592)	(27,454)
Total Liabilities and Stockholders' Equity (Deficit)	$ 3,333	$ 833

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Balance Sheets (Parenthetical) (Unaudited) - $ / shares	May 31, 2017	Aug. 31, 2016
Balance Sheets [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	11,600,000	11,600,000
Common stock, shares outstanding	11,600,000	11,600,000

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Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	May 31, 2017	May 31, 2016	May 31, 2017	May 31, 2016
Income Statement [Abstract]
Revenues
Operating expenses
General and administrative expenses	13,526	15,411	47,140	35,194
Net loss from operations	(13,526)	(15,411)	(47,140)	(35,194)
Loss before taxes	(13,526)	(15,411)	(47,140)	(35,194)
Provision for taxes
Net Loss	$ (13,526)	$ (15,411)	$ (47,140)	$ (35,194)
Loss per common share:
Basic and Diluted	$ (0.01)	$ (0.01)	$ (0.01)	$ (0.01)
Weighted average number of common shares outstanding:
Basic and Diluted	11,600,000	11,600,000	11,600,000	11,600,000

XML

Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	May 31, 2017	May 31, 2016
Operating Activities
Net loss	$ (47,140)	$ (35,194)
Adjustment to reconcile net loss to net cash used in operating activities
Depreciation & amortization		205
Changes in operating assets and liabilities
Prepaid expenses	(2,500)	(3,183)
Prepaid revenue
Accounts payable	5,842
Accrued expenses	978
Net cash used in operating activities	(42,820)	(38,172)
Investing Activities
Cash used to pay for fixed assets
Net cash provided by (used in) investing activities
Financing Activities
Proceeds from loan from shareholder	42,820	22,861
Repayment of shareholder loan		(2,054)
Net cash provided by financing activities	42,820	20,807
Net increase in cash and equivalents		(17,365)
Cash and equivalents at beginning of the period		17,365
Cash and equivalents at end of the period
Cash paid for:
Interest
Taxes
Significant non-cash transactions:
Discharged loan from shareholder		$ 14,429

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Organization and Business Operations

9 Months Ended

May 31, 2017

Organization and Business Operations [Abstract]

ORGANIZATION AND BUSINESS OPERATIONS

NOTE 1 – ORGANIZATION AND BUSINESS OPERATIONS

Organization and Description of Business

Luboa Group, Inc. (the “Company”), formerly known as Sunrise Tours, Inc., was incorporated under the laws of the State of Nevada on March 19, 2013 (“Inception”). On January 20, 2016, the Company filed a Certificate of Amendment with the Secretary of State of Nevada and changed its corporate name to “Luboa Group Inc.” Concurrent with the change of corporate name, the Company also changed its principal business plan from developing and offering special services such as 3D virtual tours for companies which would like to promote their venues on the Internet and electronic media, to developing specialized agricultural products and a carbon emission trading platform in Asia. However, as of May 31, 2017, no definitive agreement had been entered into in connection with the business plan. The Company’s principal headquarters is located in Kaohsiung City, Taiwan. From Inception through May 31, 2017, the Company accumulated losses of approximately $124,021.

In June 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-10, “Development Stage Entities”. The amendments in this update remove the definition of a development stage entity from the Master Glossary of the Accounting Standards Codification (“ASC”), thereby removing the financial reporting distinction between development stage entities and other reporting entities from generally accepted accounting principles in the United States of America (“U.S. GAAP”). In addition, the amendments eliminate the requirements for development stage entities to (1) present inception-to- date information in the statements of income, cash flows, and shareholder equity, (2) label the financial statements as those of a development stage entity, (3) disclose a description of the development stage activities in which the entity is engaged, and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage. The amendments in this update are applied retrospectively. The adoption of ASU 2014-10 removed the development stage entity financial reporting requirements for the Company.

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Going Concern

9 Months Ended

May 31, 2017

Going Concern [Abstract]

GOING CONCERN

NOTE 2 – GOING CONCERN

The Company has incurred loss since Inception resulting in accumulated deficit of approximately $124,021 as of May 31, 2017, and further losses are anticipated in the development of its business plan. Accordingly, there is substantial doubt about the Company’s ability to continue as a going concern.

The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and, or, obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with loans from related parties and/or the issuance of equity and debt securities.

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Summary of Significant Accounting Policies

9 Months Ended

May 31, 2017

Summary of Significant Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying financial statements of the Company have been prepared without audit but in accordance with U.S. GAAP and are presented in U.S. dollars. The Company’s fiscal year-end is August 31. In the opinion of management, all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation of the financial statements have been included. Interim results are not necessarily indicative of results to be expected for the full year. The information included in this quarterly report on Form 10-Q should be read in conjunction with information included in the Company’s annual report on Form 10-K for the year ended August 31, 2016 (the “Annual Report”).

Cash and Cash Equivalents

For purposes of the accompanying statement of cash flows, the Company considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. The Company’s funds are deposited in insured institutions. The funds are insured for up to $250,000. At May 31, 2017, the Company’s funds did not exceed the insured amount.

Basic and Diluted Income (Loss) Per Share

The Company computes income (loss) per share in accordance with FASB ASC 260, “Earnings per Share”, which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive.

For the three-month periods ended May 31, 2017 and 2016, there were no potentially dilutive debt or equity instruments issued or outstanding and any such shares would have been excluded from the computation because they would have been anti-dilutive as the Company incurred losses in these periods.

Fair Value of Financial Instruments

ASC 820, “Fair Value Measurements and Disclosures”, establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market.

These tiers include:

Level 1: defined as observable inputs such as quoted prices in active markets;

Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and

Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The carrying value of cash and the Company’s loan from a shareholder approximates its fair value due to their short-term maturity.

Income Taxes

The Company accounts for income taxes pursuant to FASB ASC 740 “Income Taxes”. Under ASC 740 deferred income taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The provision for income taxes represents the tax expense for the period, if any, and the change during the period in deferred tax assets and liabilities. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

ASC 740 also provides criteria for the recognition, measurement, presentation and disclosure of uncertain tax positions. Under ASC 740, the impact of an uncertain tax position on the income tax return may only be recognized at the largest amount that is more-likely-than-not to be sustained upon audit by the relevant taxing authority. At May 31, 2017, there were no unrecognized tax benefits.

Revenue Recognition

The Company will recognize revenue in accordance with ASC No. 605, “Revenue Recognition”. ASC-605 requires that four basic criteria must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed and determinable; and (4) collectability is reasonably assured. Determination of criteria (3) and (4) are based on management’s judgments regarding the fixed nature of the selling prices of the products delivered and the collectability of those amounts. Provisions for discounts and rebates to customers, estimated returns and allowances, and other adjustments are provided for in the same period the related sales are recorded. The Company will defer any revenue for which the product has not been delivered or is subject to refund until such time that the Company and the customer jointly determine that the product has been delivered or no refund will be required.

Advertising Costs

The Company’s policy regarding advertising is to expense advertising when incurred. The Company incurred advertising expense of $0 during the nine-month periods ended May 31, 2017 and 2016.

Recent Accounting Pronouncements

Management has reviewed all the recently issued, but not yet effective, accounting pronouncements, and does not believe any of these pronouncements will have a material impact on the Company.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP 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 the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Stock-Based Compensation

As of May 31, 2017, the Company had not issued any stock-based payments to its employees.

Stock-based compensation is accounted for at fair value in accordance with ASC 718, when applicable. To date, the Company has not adopted a stock option plan and has not granted any stock options.

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Common Stock

9 Months Ended

May 31, 2017

Common Stock [Abstract]

COMMON STOCK

NOTE 4 – COMMON STOCK

The Company has 75,000,000 shares of common stock authorized with a par value of $ 0.001 per share.

On September 23, 2013, the Company issued 9,000,000 shares at $0.001 per share for total proceeds of $9,000.

For the year ended August 31, 2016, the Company issued 2,600,000 shares at $0.01 per share for total proceeds of $26,000.

As at May 31, 2017, 11,600,000 shares of common stock were issued and outstanding. See Note 8 (Change of Control) regarding the January 8, 2016 transaction resulting in the ownership change as of approximately 77.59% of these common shares.

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Income Taxes

9 Months Ended

May 31, 2017

Income Taxes [Abstract]

INCOME TAXES

NOTE 5 – INCOME TAXES

As of May 31, 2017, the Company had net operating loss carry forwards of approximately $124,021 that may be available to reduce future years’ taxable income through 2036. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards.

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Prepaid Expenses

9 Months Ended

May 31, 2017

Prepaid Expenses [Abstract]

PREPAID EXPENSES

NOTE 6 – PREPAID EXPENSES

On September 15, 2016, the Company prepaid $10,000 to OTC Market Group Inc. for its annual fee from November 1, 2016 to October 31, 2017. $3,333 of such amount is classified as prepaid expenses as of May 31, 2017.

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Loan from Shareholder

9 Months Ended

May 31, 2017

Loan from Shareholder [Abstract]

LOAN FROM SHAREHOLDER

NOTE 7 – LOAN FROM SHAREHOLDER

The Company relies on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of equity or debt securities. There is no formal written commitment for continued support from such related parties. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances are considered temporary in nature and have not been formalized by a promissory note.

From Inception through January 8, 2016, the Company’s then sole shareholder and director Alexander Karpetskiy loaned the Company $15,066 to pay for incorporation costs and operating expenses. The loan was non-interest bearing, due upon demand and unsecured. As of January 8, 2016, the amount outstanding was $14,429. As a result of the change of control described in Note 8, the entire unpaid balance of the loan was discharged by Mr. Karpetskiy.

Since January 14, 2016, a current director who is also one of the Company’s major shareholders has loaned the Company money to pay for operating expenses. As of May 31, 2017, the amount outstanding was $71,005. The loan is non-interest bearing, due upon demand and unsecured.

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Change of Control

9 Months Ended

May 31, 2017

Change of Control [Abstract]

CHANGE OF CONTROL

NOTE 8 – CHANGE OF CONTROL

On January 8, 2016 (the “Closing Date”), Mr. Karpetskiy entered into a Securities Purchase Agreement (the “SPA”) with Hsin-Nan Lin, pursuant to which Mr. Lin acquired from Mr. Karpetskiy all 9 million shares of the Company’s common stock owned by him. Pursuant to the SPA, all of the Company’s outstanding liabilities as of the Closing Date, including the outstanding balance of Mr. Karpetskiy’s loan, were fully paid by utilizing cash on hand (or discharged in the case of Mr. Karpetskiy’s loan). As a result, the Company was relieved of unpaid shareholder loan in the amount of $14,428, which is recorded by the Company as additional paid-in capital as of May 31, 2017.

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Subsequent Events

9 Months Ended

May 31, 2017

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 9 – SUBSEQUENT EVENTS

In accordance with ASC 855-10, the Company has analyzed its operations subsequent to May 31, 2017 to the date these financial statements were issued, and has determined that it does not have any material subsequent events to disclose in these financial statements.

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Restatement

9 Months Ended

May 31, 2017

Restatement [Abstract]

RESTATEMENT

NOTE 10 – RESTATEMENT

As described in the notes accompanying the Company’s audited financial statements included in the Annual Report, the Company’s unaudited financial statements as of May 31, 2016 and for the three-month and nine-month periods ended May 31, 2016, have been restated as follows:

	Restated, 5/31/2016		Original, 5/31/2016
Loan from shareholder	$	20,261	$	25,810
Accounts payable	$	-	$	343
General and administrative expenses for the three-month period ended	$	15,411	$	20,660
General and administrative expenses for the nine-month period ended	$	35,194	$	41,085
Deficit accumulated during the development stage	$	66,357	$	72,249

The purpose of the foregoing restatement is to correct the accounting treatment of activities related to certain prepaid deposit at a personal trust account made by one of the Company’s current director and major shareholders. The prepaid deposit was accounted for as part of the Company’s prepaid expenses in the unaudited financial statements for the quarter ended May 31, 2016. The revision also removed certain expenses incurred by the major shareholder in connection with the change of control transaction described in Note 8 from the statements of operations for the quarter ended May 31, 2016. The revision adjusted the account balances of the Company’s prepaid expenses loan from shareholder, accounts payable, general and administrative expenses, and deficit accumulated during the development stage for the period affected. In accordance with applicable U.S. GAAP, the Company calculated and recognized adjustments accordingly.

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Summary of Significant Accounting Policies (Policies)

9 Months Ended

May 31, 2017

Summary of Significant Accounting Policies [Abstract]

Basis of Presentation

Basis of Presentation

The accompanying financial statements of the Company have been prepared without audit but in accordance with U.S. GAAP and are presented in U.S. dollars. The Company’s fiscal year-end is August 31. In the opinion of management, all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation of the financial statements have been included. Interim results are not necessarily indicative of results to be expected for the full year. The information included in this quarterly report on Form 10-Q should be read in conjunction with information included in the Company’s annual report on Form 10-K for the year ended August 31, 2016 (the “Annual Report”).

Cash and Cash Equivalents

Cash and Cash Equivalents

For purposes of the accompanying statement of cash flows, the Company considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. The Company’s funds are deposited in insured institutions. The funds are insured for up to $250,000. At May 31, 2017, the Company’s funds did not exceed the insured amount.

Basic and Diluted Income (Loss) Per Share

Basic and Diluted Income (Loss) Per Share

The Company computes income (loss) per share in accordance with FASB ASC 260, “Earnings per Share”, which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive.

For the three-month periods ended May 31, 2017 and 2016, there were no potentially dilutive debt or equity instruments issued or outstanding and any such shares would have been excluded from the computation because they would have been anti-dilutive as the Company incurred losses in these periods.

Fair Value of Financial Instruments

Fair Value of Financial Instruments

ASC 820, “Fair Value Measurements and Disclosures”, establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market.

These tiers include:

Level 1: defined as observable inputs such as quoted prices in active markets;

Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and

Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The carrying value of cash and the Company’s loan from a shareholder approximates its fair value due to their short-term maturity.

Income Taxes

Income Taxes

The Company accounts for income taxes pursuant to FASB ASC 740 “Income Taxes”. Under ASC 740 deferred income taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The provision for income taxes represents the tax expense for the period, if any, and the change during the period in deferred tax assets and liabilities. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

ASC 740 also provides criteria for the recognition, measurement, presentation and disclosure of uncertain tax positions. Under ASC 740, the impact of an uncertain tax position on the income tax return may only be recognized at the largest amount that is more-likely-than-not to be sustained upon audit by the relevant taxing authority. At May 31, 2017, there were no unrecognized tax benefits.

Revenue Recognition

Revenue Recognition

The Company will recognize revenue in accordance with ASC No. 605, “Revenue Recognition”. ASC-605 requires that four basic criteria must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed and determinable; and (4) collectability is reasonably assured. Determination of criteria (3) and (4) are based on management’s judgments regarding the fixed nature of the selling prices of the products delivered and the collectability of those amounts. Provisions for discounts and rebates to customers, estimated returns and allowances, and other adjustments are provided for in the same period the related sales are recorded. The Company will defer any revenue for which the product has not been delivered or is subject to refund until such time that the Company and the customer jointly determine that the product has been delivered or no refund will be required.

Advertising Costs

Advertising Costs

The Company’s policy regarding advertising is to expense advertising when incurred. The Company incurred advertising expense of $0 during the nine-month periods ended May 31, 2017 and 2016.

Recent Accounting Pronouncements

Recent Accounting Pronouncements

Management has reviewed all the recently issued, but not yet effective, accounting pronouncements, and does not believe any of these pronouncements will have a material impact on the Company.

Use of Estimates

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP 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 the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Stock-Based Compensation

Stock-Based Compensation

As of May 31, 2017, the Company had not issued any stock-based payments to its employees.

Stock-based compensation is accounted for at fair value in accordance with ASC 718, when applicable. To date, the Company has not adopted a stock option plan and has not granted any stock options.

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Restatement (Tables)

9 Months Ended

May 31, 2017

Restatement [Abstract]

Schedule of restatement

	Restated, 5/31/2016		Original, 5/31/2016
Loan from shareholder	$	20,261	$	25,810
Accounts payable	$	-	$	343
General and administrative expenses for the three-month period ended	$	15,411	$	20,660
General and administrative expenses for the nine-month period ended	$	35,194	$	41,085
Deficit accumulated during the development stage	$	66,357	$	72,249

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Organization and Business Operations (Details) - USD ($)	May 31, 2017	Aug. 31, 2016
Organization and Business Operations (Textual)
Accumulated losses	$ (124,021)	$ (76,883)

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Going Concern (Details) - USD ($)	May 31, 2017	Aug. 31, 2016
Going Concern (Textual)
Accumulated deficit	$ (124,021)	$ (76,883)

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Summary of Significant Accounting Policies (Details) - USD ($)	9 Months Ended
	May 31, 2017	May 31, 2016
Summary of Significant Accounting Policies (Textual)
Insured amount	$ 250,000
Advertising expense	$ 0	$ 0

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Common Stock (Details) - USD ($)	1 Months Ended	12 Months Ended
	Sep. 23, 2013	Aug. 31, 2016	May 31, 2017
Common Stock (Textual)
Common stock, shares authorized		75,000,000	75,000,000
Common stock, par value		$ 0.001	$ 0.001
Common stock, shares issued		11,600,000	11,600,000
Common stock, shares outstanding		11,600,000	11,600,000
Ownership percentage			77.59%
Common Stock [Member]
Common Stock (Textual)
Common stock, par value	$ 0.001	$ 0.01
Common stock, shares issued	9,000,000	2,600,000
Proceeds from issuance of common stock	$ 9,000	$ 26,000

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Income Taxes (Details)	9 Months Ended
	May 31, 2017 USD ($)
Income Taxes (Textual)
Operating loss carryforwards	$ 124,021
Operating loss carryforwards, description	Taxable income through 2036.

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Prepaid Expenses (Details) - USD ($)	May 31, 2017	Sep. 15, 2016	Aug. 31, 2016
Prepaid Expenses (Textual)
Prepaid expenses	$ 3,333		$ 833
OTC Market Group Inc.[Member]
Prepaid Expenses (Textual)
Prepaid expenses		$ 10,000

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Loan from Shareholder (Details) - USD ($)	Jan. 08, 2016	May 31, 2017	Aug. 31, 2016
Loan from Shareholder (Textual)
Incorporation costs and operating expenses	$ 15,066
Loan from shareholder		$ 71,005	$ 28,187
Alexander Karpetskiy [Member]
Loan from Shareholder (Textual)
Loan from shareholder	$ 14,429

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Change of Control (Details) - USD ($) shares in Millions	Jan. 08, 2016	May 31, 2017
Change of Control (Textual)
Common stock acquired	9
Additional paid-in-capital		$ 14,428

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Restatement (Details) - USD ($)	3 Months Ended		9 Months Ended
	May 31, 2017	May 31, 2016	May 31, 2017	May 31, 2016	Aug. 31, 2016
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Loan from shareholder	$ 71,005		$ 71,005		$ 28,187
Accounts payable	5,842		5,842
General and administrative expenses for the three-month period ended	13,526	$ 15,411	47,140	$ 35,194
Deficit accumulated during the development stage	$ (124,021)		$ (124,021)		$ (76,883)
Restated [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Loan from shareholder		20,261		20,261
Accounts payable
General and administrative expenses for the three-month period ended				15,411
General and administrative expenses for the nine-month period ended				35,194
Deficit accumulated during the development stage		66,357		66,357
Original [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Loan from shareholder		25,810		25,810
Accounts payable		343		343
General and administrative expenses for the three-month period ended				20,660
General and administrative expenses for the nine-month period ended				41,085
Deficit accumulated during the development stage		$ 72,249		$ 72,249