XML 18 R7.htm IDEA: XBRL DOCUMENT v3.20.2
ORGANIZATION, DESCRIPTION OF BUSINESS, AND GOING CONCERN
12 Months Ended
Dec. 31, 2019
ORGANIZATION, DESCRIPTION OF BUSINESS, AND GOING CONCERN  
NOTE 1 - DESCRIPTION OF BUSINESS, AND GOING CONCERN Ariel Clean Energy Inc. (“Ariel” or “the Company”) began its existence as the Pacific Development Corporation which was incorporated under the laws of the State of Colorado on September 21, 1992. On May 23, 2000, though a re-incorporation, the Company and Cheshire Holdings Inc. were merged into a single corporation existing under the laws of the State of Delaware.  The Company is currently seeking new business opportunities with established business entities for merger with or acquisition of a target business.  Going concern and Liquidity Considerations The Company’s financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern. This contemplates the realization of assets and the liquidation of liabilities in the normal course of business. Currently, the Company does not have material assets, nor does it have operations or a source of revenue sufficient to cover its operation costs and allow it to continue as a going concern. The Company has an accumulated deficit of $220,978. The Company will be dependent upon the raising of additional capital through placement of common stock in order to implement its business plan, or merge with an operating company. There can be no assurance that the Company will be successful in either situation in order to continue as a going concern. These financial statements do not include any adjustments relating to the recoverability and classification of recorded assets or the amounts of and classification of liabilities that might be necessary in the event the company cannot continue in existence. Accordingly, these factors raise substantial doubt as to the Company’s ability to continue as a going concern. The officers and directors have committed to advancing certain operating costs of the Company, including compliance costs for being a public company.