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RELATED PARTIES TRANSACTIONS
12 Months Ended
Sep. 30, 2019
Related Party Transactions [Abstract]  
RELATED PARTIES TRANSACTIONS

NOTE 5 - RELATED PARTIES TRANSACTIONS

 

In support of the Company’s efforts and cash requirements, it may rely on advances from related parties until such time that the company can support its operations or attains adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by shareholders or directors. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances were considered temporary in nature and were not formalized by a promissory note.

 

During the year ended September 30, 2019 and 2018, the Company’s sole officer advanced to the Company an amount of $24,689 and $9,571 by the way of loan. As of September 30, 2019, the Company was obligated to the officer, for an unsecured, non-interest bearing demand loan with a balance of $34,260.

 

As of September 30, 2019 and 2018, the company's former sole officer advanced the Company $0 and $21,572, respectively. The advance was non-interest bearing and due on demand. This advance was forgiven to the former officer and no amount is due as of September 30,2019.

 

As of September 30, 2019 and 2018, the Company owed $34,260 and $9,571 to a related party, respectively.

 

Pursuant to a stock purchase agreement (the “Agreement”), effective as of April 4, 2018, by and among certain shareholders of the Company (the “Sellers”) and Haiping Hu (the “Purchaser”), the Sellers sold an aggregate of 9,797,600 shares of Common Stock of the Company, to the Purchaser for cash consideration of $360,000 from personal funds of the Purchaser (the “Transaction”). Following consummation of the Transaction, the Purchaser holds 99.5% of the voting securities of the Company, based on 9,850,000 shares issued and outstanding as of the date hereof. The Transaction has resulted in a change in control of the Company from the Seller to the Purchaser.

 

In conjunction with the stock purchase agreement and change of control, the outstanding accounts payable were fully paid off by the former sole officer and director. All amounts owing to the former officer, which aggregated to $67,126, were forgiven and recorded as additional paid in capital.