Note 2 - Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
Nov. 30, 2018
Notes
Note 2 - Basis of Presentation and Summary of Significant Accounting Policies	NOTE 2. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES A summary of significant accounting policies of HK eBus Corporation (hereinafter the “Company”), a company organized in the state of Nevada (A Development Stage Company) is presented to assist in understanding the Company’s financial statements. The accounting policies presented in these footnotes conform to accounting principles generally accepted in the United States of America and have been consistently applied in the preparation of the accompanying financial statements. These financial statements and notes are representations of the Company’s management who are responsible for their integrity and objectivity. The Company has not realized significant revenues from its planned principal business purpose and is considered to be in its development state in accordance with ASC 915, “Development Stage Entities”, formerly known as SFAS 7, “Accounting and Reporting by Development State Enterprises.” Basis of Presentation Our financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The preparation of our financial statements requires us to make estimates and assumptions that affect, among other areas, the reported amounts of trade receivable reserves and inventory reserves, impairment of long-lived assets, and recoverability of deferred tax assets. These estimates and assumptions also impact revenues, expenses and the disclosures in our financial statements and accompanying notes. Although these estimates are based on our knowledge of current events and actions we may undertake in the future, actual results may ultimately differ from these estimates and assumptions. Development Stage The Company is currently in the development stage and has no significant operations. On August 9, 2013, the Company effected a 1-for-100 reverse split of the outstanding common stock. The accompanying financial statements and notes to the financial statements give retroactive effect to the reverse stock split for all periods presented. Fair Value Measurements In January 2010, the FASB ASC Topic 825, Financial Instruments, began requiring disclosures about fair value of financial instruments in quarterly reports as well as in annual reports. For the Company, this statement applies to certain investments and long-term debt. Also, FASB ASC Topic 820, Fair Value Measurements and Disclosures, clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Various inputs are considered when determining the value of the Company’s investments and long-term debt. The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in these securities. These inputs are summarized in the three broad levels listed below. · Level 1 - observable market inputs that are unadjusted quoted prices for identical assets or liabilities in active markets. · Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, credit risk, etc.). · Level 3 - significant unobservable inputs (including the Company’s own assumptions in determining the fair value of investments). The Company had no financial instruments to measure for fair value as of November 30, 2018. Revenue from Contracts with Customers In May 2014, the FASB issued ASC Topic 606, Revenue from Contracts with Customers, which applies to all entities and all contracts with customers, with the exception of certain contracts (including leases, insurance contracts, and other contractual agreements and exchanges between entities in the same line of business), as noted in ASC 606-10. ASC 606 became effective for the Company this year, but the Company cannot assess the impact of ASC 606 because it has not yet generated revenues and is not currently tied to a specific line of business. The Company will be able to evaluate the impact of the new rule in the future, when revenue streams are known. Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make certain estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company is subject to uncertainty of future events, economic, environmental and political factors and changes in the Company's business environment; therefore, actual results could differ from these estimates. Accordingly, accounting estimates used in the preparation of the Company's financial statements will change as new events occur and that more experience is acquired, as additional information is obtained and as the Company's operating environment changes. Changes are made in estimates as circumstances warrant. Such changes in estimates and refinement of estimation methodologies are reflected in the statements. Cash and Cash Equivalents Cash and cash equivalents include short-term, highly liquid investments with maturities of less than three months when acquired. The Company had $7,100 and $6,700 in cash on November 30, 2018 and May 31, 2018, respectively. The Company had no cash equivalent on November 30, 2018 and May 31, 2018. Accounts Payable Services and goods received from vendors and billed but not yet paid are recorded as accounts payable in periods when the services and goods were received. As of November 30, 2018, $7,491 was recorded as accounts payable. The balance of accounts payable was $7,491 and $7,686 as of November 30, 2018 and May 31, 2018, respectively.

Note 2 - Basis of Presentation and Summary of Significant Accounting Policies

6 Months Ended

Nov. 30, 2018

Note 2 - Basis of Presentation and Summary of Significant Accounting Policies

NOTE 2. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

A summary of significant accounting policies of HK eBus Corporation (hereinafter the “Company”), a company organized in the state of Nevada (A Development Stage Company) is presented to assist in understanding the Company’s financial statements. The accounting policies presented in these footnotes conform to accounting principles generally accepted in the United States of America and have been consistently applied in the preparation of the accompanying financial statements. These financial statements and notes are representations of the Company’s management who are responsible for their integrity and objectivity. The Company has not realized significant revenues from its planned principal business purpose and is considered to be in its development state in accordance with ASC 915, “Development Stage Entities”, formerly known as SFAS 7, “Accounting and Reporting by Development State Enterprises.”

Basis of Presentation

Our financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The preparation of our financial statements requires us to make estimates and assumptions that affect, among other areas, the reported amounts of trade receivable reserves and inventory reserves, impairment of long-lived assets, and recoverability of deferred tax assets. These estimates and assumptions also impact revenues, expenses and the disclosures in our financial statements and accompanying notes. Although these estimates are based on our knowledge of current events and actions we may undertake in the future, actual results may ultimately differ from these estimates and assumptions.

Development Stage

The Company is currently in the development stage and has no significant operations. On August 9, 2013, the Company effected a 1-for-100 reverse split of the outstanding common stock. The accompanying financial statements and notes to the financial statements give retroactive effect to the reverse stock split for all periods presented.

Fair Value Measurements

In January 2010, the FASB ASC Topic 825, Financial Instruments, began requiring disclosures about fair value of financial instruments in quarterly reports as well as in annual reports. For the Company, this statement applies to certain investments and long-term debt. Also, FASB ASC Topic 820, Fair Value Measurements and Disclosures, clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements.

Various inputs are considered when determining the value of the Company’s investments and long-term debt. The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in these securities. These inputs are summarized in the three broad levels listed below.

· Level 1 - observable market inputs that are unadjusted quoted prices for identical assets or liabilities in active markets.

· Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, credit risk, etc.).

· Level 3 - significant unobservable inputs (including the Company’s own assumptions in determining the fair value of investments).

The Company had no financial instruments to measure for fair value as of November 30, 2018.

Revenue from Contracts with Customers

In May 2014, the FASB issued ASC Topic 606, Revenue from Contracts with Customers, which applies to all entities and all contracts with customers, with the exception of certain contracts (including leases, insurance contracts, and other contractual agreements and exchanges between entities in the same line of business), as noted in ASC 606-10. ASC 606 became effective for the Company this year, but the Company cannot assess the impact of ASC 606 because it has not yet generated revenues and is not currently tied to a specific line of business. The Company will be able to evaluate the impact of the new rule in the future, when revenue streams are known.

Use of Estimates

The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make certain estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company is subject to uncertainty of future events, economic, environmental and political factors and changes in the Company's business environment; therefore, actual results could differ from these estimates. Accordingly, accounting estimates used in the preparation of the Company's financial statements will change as new events occur and that more experience is acquired, as additional information is obtained and as the Company's operating environment changes. Changes are made in estimates as circumstances warrant. Such changes in estimates and refinement of estimation methodologies are reflected in the statements.

Cash and Cash Equivalents

Cash and cash equivalents include short-term, highly liquid investments with maturities of less than three months when acquired. The Company had $7,100 and $6,700 in cash on November 30, 2018 and May 31, 2018, respectively. The Company had no cash equivalent on November 30, 2018 and May 31, 2018.

Accounts Payable

Services and goods received from vendors and billed but not yet paid are recorded as accounts payable in periods when the services and goods were received. As of November 30, 2018, $7,491 was recorded as accounts payable. The balance of accounts payable was $7,491 and $7,686 as of November 30, 2018 and May 31, 2018, respectively.