10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

x Quarterly Report Pursuant To Section 13 or 15(d) of the Securities Exchange Act Of 1934

For the quarterly period ended March 31, 2019

o Transition Report Under Section 13 or 15(d) of the Securities Exchange Act Of 1934

For the transition period from __________ to __________

Commission File Number:    000-52828

DIGITAL DEVELOPMENT PARTNERS, INC.

(Exact name of registrant as specified in its charter)

NEVADA	98-0521119
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

17800 Castleton St., Suite 300

City of Industry, CA 91748
(Address of principal executive offices, including Zip Code)

(626) 581-3335

(Issuer’s telephone number, including area code)

(Former name or former address if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:
Title of each class	Trading symbol(s)	Name of each exchange on which registered
N/A	N/A	N/A

Check whether the issuer (1) has filed all reports required to be filed by section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.     Yes x    No ¨

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit files). Yes x No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a small reporting company. See the definitions of “large accelerated filer,” “accelerated filer,” “non-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	x	Smaller reporting company	x
		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 Exchange Act).     Yes x     No ¨

State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date: 85,970,665 shares of common stock as of July 26, 2019.

Digital Development Partners, Inc.

Balance Sheets

(Unaudited)

	March 31,			December 31,
	2019			2018
ASSETS
Current Assets
Cash	$	1,291		$	4,733
Total Assets	$	1,291		$	4,733
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current Liabilities
Accounts payable and accrued liabilities	$	243,300		$	231,553
Related party loan payables		806,235			792,008
Total Liabilities		1,049,535			1,023,561
Stockholders' Deficit
Common Stock, $0.001 par value; authorized 225,000,000 shares; 85,970,665 outstanding shares at March 31, 2019 and December 31, 2018		85,971			85,971
Additional Paid-In Capital		7,488,946			7,488,946
Accumulated Deficit		(8,623,161	)		(8,593,745	)
Total Stockholders' Deficit		(1,048,244	)		(1,018,828	)
Total Liabilities and Stockholders' Deficit	$	1,291		$	4,733

The accompanying notes are an integral part of these unaudited financial statements.

2

Digital Development Partners, Inc.

Statements of Operations

(Unaudited)

	For the
	Three Months Ended
	March 31,
	2019			2018
Operating Expenses
General and administrative	$	19,463		$	13,750
Total operating expenses		19,463			13,750
Loss from Operations		(19,463	)		(13,750	)
Other expense
Interest Expense		(9,953	)		(9,018	)
Total other expense		(9,953	)		(9,018	)
Net Loss	$	(29,416	)	$	(22,768	)
Net Loss Per Common Share:
Basic and Diluted	$	(0.00	)	$	(0.00	)
Weighted Average Common Shares Outstanding,
Basic and Diluted:		85,970,665			85,970,665

The accompanying notes are an integral part of these unaudited financial statements.

3

Digital Development Partners, Inc.

Statements of Changes in Stockholders’ Deficit

For the Three Months Ended March 31, 2019 and 2018

(Unaudited)

					Additional					Total
					Paid-In		Accumulated			Stockholders’
	Common Stock				Capital		Deficit			Deficit
	Shares		Amount
Balance, December 31, 2017		85,970,665	$	85,971	$	7,488,946	$	(8,472,635	)	$	(897,718	)
Net loss		-		-		-		(22,768	)		(22,768	)
Balance, March 31, 2018		85,970,665		85,971		7,488,946		(8,495,403	)		(920,486	)
Balance, December 31, 2018		85,970,665	$	85,971	$	7,488,946	$	(8,593,745	)	$	(1,018,828	)
Net loss		-		-		-		(29,416	)		(29,416	)
Balance, March 31, 2019		85,970,665	$	85,971	$	7,488,946	$	(8,623,161	)	$	(1,048,244	)

The accompanying notes are an integral part of these unaudited financial statements.

4

Digital Development Partners, Inc.

Statements of Cash Flows

(Unaudited)

	For the
	Three Months Ended
	March 31,
	2019			2018
Cash flows from operating activities:
Net loss	$	(29,416	)	$	(22,768	)
Adjustments to reconcile net loss to net cash used in operating activities:
Change in operating assets and liabilities:
Accounts payable, accrued liabilities		17,974			8,118
Net cash used in operating activities		(11,442	)		(14,650	)
Cash flows from financing activities:
Proceeds from related party loans		12,500			18,310
Repayments on related party loans		(4,500	)		-
Net cash provided by financing activities		8,000			18,310
Net increase (decrease) in cash		(3,442	)		3,660
Cash, beginning of the period		4,733			1,573
Cash, end of the period	$	1,291		$	5,233
Supplemental cash flow disclosure:
Interest paid	$	-		$	-
Taxes paid	$	-		$	-
Non-cash investing and financing transactions
Expenses paid directly by related party on behalf of the Company	$	6,227		$	-

The accompanying notes are an integral part of these unaudited financial statements.

5

DIGITAL DEVELOPMENT PARTNERS INC. 
NOTES TO FINANCIAL STATEMENTS

(UNAUDITED)

1. Basis of Presentation and Nature of Operations

The accompanying unaudited interim financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. (“GAAP”) for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all of the information required by GAAP for complete annual financial statement presentation.

These unaudited interim financial statements, as of March 31, 2019 and for the three months ended March 31, 2019 and 2018, reflect all adjustments consisting of normal recurring adjustments, which, in the opinion of management, are necessary to fairly present the Company’s financial position and the results of its operations for the periods presented, in accordance with the accounting principles generally accepted in the United States of America. Operating results for the three months ended March 31, 2019, are not necessarily indicative of the results to be expected for other interim periods or for the full year ending December 31, 2019. These unaudited interim financial statements should be read in conjunction with the financial statements and accompanying notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, as filed with the Securities Exchange Commission.

2. Going Concern

The Company’s unaudited interim financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. The Company also has a working capital deficit as of March 31, 2019. These factors raise substantial doubt about the Company’s ability to continue as a going concern.

The Company’s capital requirements will depend on many factors, including the success of the Company’s researching for new markets. The Company plans to continue financing its operations with cash received from financing activities, more specifically from related party loans.

While the Company believes that its capital resources will be sufficient in the near term, there is no assurance that the Company’s future activities will generate sufficient revenues to sustain its operations without additional capital or if additional capital is needed, that such funds, if available, will be obtainable on terms satisfactory to the Company. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary in the event that the Company cannot continue as a going concern.

3. Related Party Transactions

EFT Holdings Inc. provides acquired office space to the company on a rent-free basis	March 31,		December 31,
	2019		2018
Loans payable to related parties:
EFT Holdings, Inc.	$	762,985	$	751,258
EF2T, Inc.		43,250		40,750
	$	806,235	$	792,008

Advances of $10,000 were received from EFT Holdings, Inc. and $6,227 was paid for expenses on behalf of the Company during the three months ended March 31, 2019. The Company repaid $4,500 to EFT Holdings, Inc. during the three months ended March 31, 2019. The amounts due EFT Holdings, Inc. bear interest at 5% per year, are secured by all future sales of the Company and have a maturity of one year. As of March 31, 2019, the Company owed EFT Holdings $225,043 in accrued and unpaid interest. $719,310 of these advances at March 31, 2019, were past due and payable upon demand. All of these past due advances have been extended for another year.

Advances of $2,500 were received from EF2T, Inc. during the three months ended March 31, 2019. The amounts due EF2T, Inc. bear interest at 5% per year, are secured by all future sales of the Company, and have a maturity of one year. As of March 31, 2019, the Company owed EF2T $1,772 in accrued and unpaid interest.

4. Subsequent events

Subsequent to the March 31, 2019, the Company borrowed additional advances of $20,000 from EF2T, Inc. and $6,450 from EFT Holdings, Inc. These advances bear interest at 5% per year, are secured by all future sales of the Company, and have a maturity of one year.

6

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operation

On February 18, 2010 the Company’s directors approved an agreement between the Company and EFT Holdings, Inc., (“EFT”), whereby EFT agreed to assign its worldwide distribution and servicing rights to a product known as the “EFT-Phone” in exchange for 79,265,000 shares of the Company’s common stock.

The EFT-Phone is a cell phone which has an application that allows EFT’s affiliate base to access all of their back office sites including their Funds Management Account where the affiliate is able to deposit, withdraw and transfer money to another EFT account or to another EFT affiliate at no cost for the transfer.

Results of Operations

The Company did not receive any orders for the EFT phone during the year ended December 31, 2018 or the three months ended March 31, 2019 or 2018. The Company has been advised by EFT that due to a significant drop in demand for the EFT phone, EFT will not be placing any new orders from the Company. The Company is investigating other sources of revenue to mitigate its lack of revenue.

Other than the foregoing, the Company does not know of any trends, events or uncertainties that will have, or are reasonably expected to have, a material impact on sales, revenues, expenses or results of operations.

Liquidity and Capital Resources

The Company does not have any firm commitments from any person to provide the Company with any additional capital. While the Company strongly believes that its capital resources will be sufficient in the near term, there is no assurance that the Company’s activities will generate sufficient revenues to sustain its operations without additional capital or if additional capital is needed, that such funds, if available, will be obtainable on terms satisfactory to the Company.

Item 4. Controls and Procedures.

(a)       The Company maintains a system of controls and procedures designed to ensure that information required to be disclosed in reports filed or submitted under the Securities Exchange Act of 1934, as amended (“1934 Act”), is recorded, processed, summarized and reported, within time periods specified in the SEC's rules and forms and to ensure that information required to be disclosed by the Company in the reports that it files or submits under the 1934 Act, is accumulated and communicated to the Company’s management, including its Principal Executive and Financial Officer, as appropriate to allow timely decisions regarding required disclosure. As of March 31, 2019, the Company’s Principal Executive and Financial Officer evaluated the effectiveness of the design and operation of the Company’s disclosure controls and procedures. Based on that evaluation, the Principal Executive and Financial Officer concluded that the Company’s disclosure controls and procedures were not effective.

(b)       There were no changes in the Company’s internal control over financial reporting during the quarter ended March 31, 2019, that materially affected, or are reasonably likely to materially affect, its internal control over financial reporting.

7

PART II

Item 6. Exhibits

Exhibits

31.1 Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.2 Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

32 Certification pursuant to Section 906 of the Sarbanes-Oxley Act.

101.INS XBRL Instance Document

101.SCH XBRL Taxonomy Extension Schema

101.CAL XBRL Taxonomy Extension Calculation Linkbase

101.DEF XBRL Taxonomy Extension Definition Linkbase

101.LAB XBRL Taxonomy Extension Label Linkbase

101.PRE XBRL Taxonomy Extension Presentation Linkbase

8

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	DIGITAL DEVELOPMENT PARTNERS, INC.
July 30, 2019	By:	/s/ Jack Jie Qin
		Jack Jie Qin, Principal Executive Officer
	By:	/s/ William E. Sluss
		William E. Sluss, Principal Financial and Accounting Officer

9

EX-31.1

EXHIBIT 31.1

CERTIFICATIONS

I, Jack Jie Qin, certify that;

1.       I have reviewed this quarterly report on Form 10-Q of Digital Development Partners, Inc.;

2.       Based on my knowledge, this report, does not contain any untrue statement of a 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 the 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 controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others 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 condensed 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; and

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.

July 30, 2019	By:	/s/ Jack Jie Qin
		Jack Jie Qin,
		Principal Executive Officer

EX-31.2

EXHIBIT 31.2

CERTIFICATIONS

I, William E. Sluss, certify that;

1.       I have reviewed this quarterly report on Form 10-Q of Digital Development Partners, Inc.;

2.       Based on my knowledge, this report, does not contain any untrue statement of a 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 the 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 controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others 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 condensed 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; and

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.

July 30, 2019	By:	/s/ William E. Sluss
		William E. Sluss,
		Principal Financial Officer

EX-32

EXHIBIT 32

In connection with the Quarterly Report of Digital Development Partners, Inc. (the “Company”) on Form 10-Q for the period ending March 31, 2019 as filed with the Securities and Exchange Commission (the “Report”), Jack Jie Qin, the Principal Executive Officer and William E. Sluss, the Principal Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to the best of their 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 the Company.

July 30, 2019	By:	/s/ Jack Jie Qin
		Jack Jie Qin, Principal Executive Officer
	By:	/s/ William E. Sluss
		William E. Sluss, Principal Financial Officer

XML

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2019	Jul. 26, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Entity Registrant Name	Digital Development Partners, Inc.
Entity Current Reporting Status	Yes
Entity Central Index Key	0001409999
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Trading Symbol	DGDM
Entity Common Stock, Shares Outstanding		85,970,665
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Shell Company	true

XML

Balance Sheets - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Current Assets
Cash	$ 1,291	$ 4,733
Total Assets	1,291	4,733
Current Liabilities
Accounts payable and accrued liabilities	243,300	231,553
Long Term Liabilities
Related party loan payables	806,235	792,008
Total Liabilities	1,049,535	1,023,561
Stockholders' Deficit
Common Stock, $0.001 par value; authorized 225,000,000 shares; 85,970,665 outstanding shares at March 31, 2019 and December 31, 2018	85,971	85,971
Additional Paid-In Capital	7,488,946	7,488,946
Accumulated Deficit	(8,623,161)	(8,593,745)
Total Stockholders' Deficit	(1,048,244)	(1,018,828)
Total Liabilities and Stockholders' Deficit	$ 1,291	$ 4,733

XML

Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common Stock, Shares Authorized	225,000,000	225,000,000
Common Stock, Shares, Outstanding	85,970,665	85,970,665

XML

Statements of Operations - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Operating Expenses
General and administrative	$ 19,463	$ 13,750
Total operating expenses	19,463	13,750
Loss from Operations	(19,463)	(13,750)
Other expense
Interest Expense	(9,953)	(9,018)
Total other expense	(9,953)	(9,018)
Net Loss	$ (29,416)	$ (22,768)
Net Loss Per Common Share:
Basic and Diluted	$ 0.00	$ 0.00
Weighted Average Shares Outstanding,
Basic and Diluted:	85,970,665	85,970,665

XML

Statement of Changes in Stockholders' Deficit - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Total
Beginning Balance at Dec. 31, 2017	$ 85,971	$ 7,488,946	$ (8,472,635)	$ (897,718)
Beginning Balance(in shares) at Dec. 31, 2017	85,970,665
Net loss			(22,768)	(22,768)
Ending Balance at Mar. 31, 2018	$ 85,971	7,488,946	(8,495,403)	(920,486)
Ending Balance(in shares) at Mar. 31, 2018	85,970,665
Beginning Balance at Dec. 31, 2018	$ 85,971	7,488,946	(8,593,745)	(1,018,828)
Beginning Balance(in shares) at Dec. 31, 2018	85,970,665
Net loss			(29,416)	(29,416)
Ending Balance at Mar. 31, 2019	$ 85,971	$ 7,488,946	$ (8,623,161)	$ (1,048,244)
Ending Balance(in shares) at Mar. 31, 2019	85,970,665

XML

Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities:
Net loss	$ (29,416)	$ (22,768)
Change in operating assets and liabilities:
Accounts payable, accrued liabilities	17,974	8,118
Net cash used in operating activities	(11,442)	(14,650)
Cash flows from financing activities:
Proceeds from related party loans	12,500	18,310
Repayments on related party loans	(4,500)
Net cash provided by financing activities	8,000	18,310
Net increase (decrease) in cash	(3,442)	3,660
Cash, beginning of the period	4,733	1,573
Cash, end of the period	1,291	$ 5,233
Non-cash investing and financing transactions
Expenses paid directly by related party on behalf of the Company	6,227
EFT Holdings, Inc [Member]
Cash flows from financing activities:
Repayments on related party loans	$ (4,500)

XML

Basis of Presentation and Nature of Operations

3 Months Ended

Mar. 31, 2019

Basis of Presentation and Nature of Operations

Basis of Presentation and Nature of Operations

1.Basis of Presentation and Nature of Operations

The accompanying unaudited interim financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. (“GAAP”) for interim financial information and with the instructions to Form 10‑Q. Accordingly, they do not include all of the information required by GAAP for complete annual financial statement presentation.

These unaudited interim financial statements, as of March 31, 2019 and for the three months ended March 31, 2019 and 2018, reflect all adjustments consisting of normal recurring adjustments, which, in the opinion of management, are necessary to fairly present the Company’s financial position and the results of its operations for the periods presented, in accordance with the accounting principles generally accepted in the United States of America. Operating results for the three months ended March 31, 2019, are not necessarily indicative of the results to be expected for other interim periods or for the full year ending December 31, 2019. These unaudited interim financial statements should be read in conjunction with the financial statements and accompanying notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, as filed with the Securities Exchange Commission.

XML

Going Concern

3 Months Ended

Mar. 31, 2019

Going Concern

Going Concern

2.Going Concern

The Company’s unaudited interim financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. The Company also has a working capital deficit as of March 31, 2019. These factors raise substantial doubt about the Company’s ability to continue as a going concern.

The Company’s capital requirements will depend on many factors, including the success of the Company’s researching for new markets. The Company plans to continue financing its operations with cash received from financing activities, more specifically from related party loans.

While the Company believes that its capital resources will be sufficient in the near term, there is no assurance that the Company’s future activities will generate sufficient revenues to sustain its operations without additional capital or if additional capital is needed, that such funds, if available, will be obtainable on terms satisfactory to the Company. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary in the event that the Company cannot continue as a going concern.

XML

Related Party Transactions

3 Months Ended

Mar. 31, 2019

Related Party Transactions

Related Party Transactions

3.Related Party Transactions

EFT Holdings, Inc. provides required	March 31,		December 31,
office space to the Company on a rent-free basis	2019		2018
Loans payable to related parties:
EFT Holdings, Inc.	$	762,985	$	751,258
EF2T, Inc.		43,250		40,750
	$	806,235	$	792,008

Advances of $10,000 were received from EFT Holdings, Inc. and $6,227 was paid for expenses on behalf of the Company during the three months ended March 31, 2019. The Company repaid $4,500 to EFT Holdings, Inc. during the three months ended March 31, 2019. The amounts due EFT Holdings, Inc. bear interest at 5% per year, are secured by all future sales of the Company and have a maturity of one year. As of March 31, 2019, the Company owed EFT Holdings $225,043 in accrued and unpaid interest. $719,310 of these advances at March 31, 2019, were past due and payable upon demand. All of these past due advances have been extended for another year.

Advances of $2,500 were received from EF2T, Inc. during the three months ended March 31, 2019. The amounts due EF2T, Inc. bear interest at 5% per year, are secured by all future sales of the Company, and have a maturity of one year. As of March 31, 2019, the Company owed EF2T $1,772 in accrued and unpaid interest.

XML

Subsequent Events

3 Months Ended

Mar. 31, 2019

Subsequent events

Subsequent events

4.Subsequent events

Subsequent to the March 31, 2019, the Company borrowed additional advances of $20,000 from EF2T, Inc. and $6,450 from EFT Holdings, Inc. These advances bear interest at 5% per year, are secured by all future sales of the Company, and have a maturity of one year.

XML

Related Party Transactions (Tables)

3 Months Ended

Mar. 31, 2019

Related Party Transactions

Schedule of Related Party Transactions

EFT Holdings, Inc. provides required	March 31,		December 31,
office space to the Company on a rent-free basis	2019		2018
Loans payable to related parties:
EFT Holdings, Inc.	$	762,985	$	751,258
EF2T, Inc.		43,250		40,750
	$	806,235	$	792,008

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Related Party Transactions - Loans payable to related parties (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Related Party Transaction [Line Items]
Loans payable to related parties	$ 806,235	$ 792,008
EFT Holdings, Inc [Member]
Related Party Transaction [Line Items]
Loans payable to related parties	762,985	751,258
EFT2 Inc. [Member]
Related Party Transaction [Line Items]
Loans payable to related parties	$ 43,250	$ 40,750

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Related Party Transactions Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Related Party Transaction [Line Items]
Proceeds from Related Party Debt	$ 12,500	$ 18,310
Expenses paid Net	6,227
Proceeds from (Repayments of) Related Party Debt	(4,500)
EFT Holdings, Inc [Member]
Related Party Transaction [Line Items]
Proceeds from (Repayments of) Related Party Debt	(4,500)
EFT Holdings, Inc [Member] | Secured Debt [Member]
Related Party Transaction [Line Items]
Proceeds from Related Party Debt	$ 10,000
Debt Instrument, Interest Rate During Period	5.00%
Debt Instrument, Term	1 year
Interest Payable	$ 225,043
Interest unpaid	719,310
EFT2 Inc. [Member]
Related Party Transaction [Line Items]
Proceeds from Related Party Debt	$ 2,500
Debt Instrument, Interest Rate During Period	5.00%
Debt Instrument, Term	1 year
Interest Payable	$ 1,772

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Subsequent events (Details) - USD ($)	1 Months Ended	3 Months Ended
	Apr. 30, 2019	Mar. 31, 2019	Mar. 31, 2018
Proceeds from Related Party Debt		$ 12,500	$ 18,310
EFT Holdings, Inc [Member] | Subsequent Event [Member]
Debt Instrument, Term	1 year
Debt Instrument, Interest Rate, Effective Percentage	5.00%
Proceeds from Related Party Debt	$ 6,450
EFT2 Holdings Inc [Member] | Subsequent Event [Member]
Proceeds from Related Party Debt	$ 20,000