10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q

(Mark One)
☒	QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE QUARTERLY PERIOD ENDED  March 31, 2016

☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

FOR THE TRANSITION PERIOD FROM __________ TO __________

COMMISSION FILE NUMBER 333-206853

EOS Inc.

(Exact name of registrant as specified in its charter)

Nevada (State or other jurisdiction of incorporation or organization) 30-0873246 (I.R.S. Employer Identification No.)

Room 519, 5F., No. 372, Linsen N. Road,

Zhongshan District,

Taipei City 104, Taiwan (R.O.C.)

 (Address of principal executive offices, Zip Code)

011-886-2-25683278

(Registrant’s telephone number, including area code)

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

Copies to:

Thomas E. Stepp, Jr.Stepp Law Corporation15707 Rockfield Boulevard, Suite 101Irvine, California 92618Phone: (949) 660-9700 ext. 124 Fax: (949) 660-9010

Indicate by check mark whether the registrant (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 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 ☒   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 (§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 x No ☐

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

Large accelerated filer ☐Accelerated filer o

Non-accelerated filer oSmaller reporting company ☒

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

The number of shares of registrant’s common stock outstanding, as of May 10, 2016, is 64,122,997.

TABLE OF CONTENTS

	Page
PART I - FINANCIAL INFORMATION
Item 1.       Financial Statements		1
Item 2.       Management’s Discussion and Analysis of Financial Condition and Results of Operation		9
Item 3.       Quantitative and Qualitative Disclosures About Market Risk		10
Item 4.       Controls and Procedures		10
PART II - OTHER INFORMATION
Item 1.       Legal Proceedings		10
Item 1A.    Risk Factors		10
Item 2.       Unregistered Sales of Equity Securities and Use of Proceeds		10
Item 3.       Defaults Upon Senior Securities		10
Item 4.       Mine Safety Disclosures		10
Item 5.       Other Information		10
Item 6.       Exhibits		11
SIGNATURES		12

PART I – FINANCIAL INFORMATION

Item 1.  Financial Statements

CONTENTS
		Page
	Balance Sheets	2
	Statements of Operations and Other Comprehensive Income (Loss)	3
	Statements of Cash Flows	4
	Notes to Financial Statements	5 - 8

1

EOS INC

BALANCE SHEET

	March 31, 2016			December 31, 2015
	(Unaudited)
Assets
Current Assets
Cash and cash equivalents	$	90,024		$	54,132
Total current assets		90,024			54,132
Total Assets	$	90,024		$	54,132
Liabilities and Stockholders’ Deficit
Current Liabilities
Accrued expenses		28,138			-
Due to related parties		185,912			150,000
Total current liabilities		214,050			150,000
Stockholders' Deficit
Common stock, $0.001 par value; 750,000,000 shares authorized, 64,122,997 and 54,122,997 shares issued and outstanding, respectively		64,123			54,123
Additional paid-in capital		90,000			-
Accumulated deficits		(278,149	)		(149,991	)
Total stockholders' deficit		(24,026	)		(95,868	)
Total Liabilities and Stockholders' Deficit	$	90,024		$	54,132

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

2

EOS INC.

STATEMENTS OF OPERATIONS

FOR THE THREE MONTHS ENDED MARCH 31, 2016

(UNAUDITED)

	Three Months Ended March 31, 2016
Net revenue	$	-
General and administrative expenses		128,158
Loss from operations		(128,158	)
Loss before income taxes		(128,158	)
Provision for income taxes expense		-
Net loss		(128,158	)
Weighted average number of shares outstanding:
Basic and diluted		58,188,931
Net loss per share:
Basic and diluted	$	(0.00	)

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

3

EOS INC.

STATEMENT OF CASH FLOWS

FOR THE THREE MONTHS ENDED MARCH 31, 2016

(UNAUDITED)

	Three Months Ended March 31, 2016
Cash Flows from Operating Activities
Net loss	$	(128,158	)
Changes in assets and liabilities:
Increase in accrued expenses		28,138
Net cash used in operating activities		(100,020	)
Cash Flows from Financing Activities
Proceeds from issuance of common stock		100,000
Advance from officers		100,000
Repayment of loan from officers		(64,088	)
Net cash provided by financing activities		135,912
Net increase in cash and cash equivalents		35,892
Cash and Cash Equivalents
Beginning		54,132
Ending	$	90,024
Supplemental Disclosure of Cash Flows
Cash paid during the year for:
Interest	$	-
Income taxes	$	-

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

4

EOS INC.

NOTES TO FINANCIAL STATEMENTS MARCH 31, 2016

(UNAUDITED)

NOTE 1. NATURE OF OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) for interim financial reporting and in accordance with instructions for Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, the unaudited condensed consolidated financial statements contained in this report reflect all adjustments that are normal and recurring in nature and considered necessary for a fair presentation of the financial position and the results of operations for the interim periods presented. The year-end condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. The results of operations for the interim period are not necessarily indicative of the results expected for the full year.

Basis of Presentation and Organization

EOS Inc., a company in the developmental stage (the “Company”), was incorporated on April 3, 2015 in the State of Nevada. The Company has conducted limited business operations and had no revenues from operations since its inception. The Company‘s business plan is to market and distribute skin care products, including masks and serums.

Going Concern

These financial statements were prepared on the basis of accounting principles applicable to going concern, which assumes the realization of assets and discharge of liabilities in the normal course of business. As shown in the accompanying financial statements, the Company had accumulated deficits of $278,149 and $149,991 as of March 31, 2016 and December 31, 2015, respectively, and it had no revenue from operations.

The Company faces all the risks common to companies at development stage, including capitalization and uncertainty of funding sources, high initial expenditure levels, uncertain revenue streams, and difficulties in managing growth. The Company's losses raise substantial doubt about its ability to continue as a going concern. The Company's financial statements do not reflect any adjustments that might result from the outcome of this uncertainty.

The Company is currently addressing its liquidity issue by continually seeking additional funds through private placements of its securities and/or capital contributions and loans by Yu-Cheng Yang, its president and sole director. The Company believes its current and future plans enable it to continue as a going concern. The Company's ability to achieve these objectives cannot be determined at this time.

These financial statements do not give effect to any adjustments which would be necessary should the Company be unable to continue as a going concern and therefore be required to realize its assets.

5

NOTE 1. NATURE OF OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES (CONTINUED)

and discharge its liabilities in other than the normal course of business and at amounts which may differ from those in the accompanying consolidated financial statements.

Use of Estimates

The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America 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 of the financial statements and the amount of revenues and expenses during the reporting periods. Management makes these estimates using the best information available at the time the estimates are made. However, actual results could differ materially from those results.

Cash and Cash Equivalents

Cash and cash equivalents include cash and all highly liquid instruments with original maturities of three months or less.

Net Income (loss) per Share

Basic income (loss) per share is computed by dividing net income by weighted average number of shares of common stock outstanding during each period. Diluted income per share is computed by dividing net loss by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during each period. At March 31, 2016, the Company does not have any outstanding common stock equivalents; therefore, a separate computation of diluted loss per share is not presented.

Income Taxes

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recognized if it is more likely than not that some portion, or all, of a deferred tax asset will not be realized. The deferred income tax assets were $0 as of both March 31, 2016 and December 31, 2015.

The Company applied the provisions of ASC 740-10-50, “Accounting For Uncertainty In Income Taxes”, which provides clarification related to the process associated with accounting for uncertain tax positions recognized in our financial statements. Audit periods remain open for review until the statute of limitations has passed. The completion of review or the expiration of the statute of limitations for a given audit period could result in an adjustment to the Company’s liability for income taxes. Any such adjustment could be material to the Company’s results of operations for any given quarterly or annual period based, in part, upon the results of operations for the given period. At March 31, 2016, management considered that the Company had no uncertain tax positions, and will continue to evaluate for uncertain positions in the future.

6

NOTE 1. NATURE OF OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES (CONTINUED)

Reclassifications

Certain classifications have been made to the prior year financial statements to conform to the current year presentation. The reclassification had no impact on previously reported net loss or accumulated deficit.

Recent Accounting Pronouncements

The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on its result of operations, financial position or cash flow.

Subsequent events

Management has evaluated subsequent events through April 28, 2016, the date which the financial statements were available to be issued. All subsequent events requiring recognition as of March 31, 2016 have been incorporated into these consolidated financial statements and there are no subsequent events that require disclosure in accordance with FASB ASC Topic 855, “Subsequent Events.”

NOTE 2. ACCRUED EXPENSES

Accrued expenses consist of the following:

	March 31, 2016		December 31, 2015
Accrued professional fees	$	28,138	$	-
	$	28,138	$	-

NOTE 3. DUE TO RELATED PARTIES

The Company has advanced funds from its officer and shareholder for working capital purposes. As of March 31, 2016 and December 31, 2015, there were $185,912 and $150,000 advances outstanding, respectively. The Company has agreed that the outstanding balances bear 0% interest rate and are due upon demand after 30 days written notice by the officer and shareholder.

NOTE 4. INCOME TAXES

As of March 31, 2016, the Company had net operating loss carry forwards of approximately $278,149 that may be available to reduce future years’ taxable income through 2035. 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.

The provision for Federal income tax consists of the following for the three months ended March 31, 2016

7

	For the three-months ended March 31, 2016
Federal income tax benefit attributable to:
Current Operations	$	43,574
Less: valuation allowance		(43,574	)
Net provision for Federal income taxes	$	-

The tax effects of temporary differences and carryforwards that give rise to significant portions of deferred tax assets and liabilities consist of the following as of March 31, 2016 and December 31, 2015:

	March 31, 2016			December 31, 2015
Deferred tax asset attributable to:
Net operating loss carryover	$	94,571		$	50,997
Less: valuation allowance		(94,571	)		(50,997	)
Net deferred tax asset	$	-		$	-

The difference between the effective rate reflected in the provision for income taxes on loss before taxes and the amounts determined by applying the applicable statutory U.S. tax rate are analyzed below:

	For the three-month ended March 31, 2016
Statutory tax benefit		(34	)%
Nondeductible/nontaxable items		-	%
Change in deferred tax asset valuation allowance		34	%
Provision for income taxes		-	%

For the three months ended March 31, 2016, the Company had no unrecognized tax benefits and related interest and penalties expenses. Currently, the Company is not subject to examination by major tax jurisdictions.

NOTE 5. STOCKHOLDERS’ DEFICIT

From April 3, 2015 to December 31, 2015, the Company has issued 54,122,997 common stock shares at par value in a total amount of $54,123 from its shareholders.

On February 24, 2016, the Company has issued 10,000,000 shares of its $0.001 par value common stock shares at a purchase price of $0.01 per share in a total amount of $100,000 from fifteen shareholders.

8

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

Cautionary Note Regarding Forward-Looking Statements

This Quarterly Report on Form 10-Q, including this discussion and analysis by management, contains or incorporates forward-looking statements.   All statements other than statements of historical fact made in report are forward looking.  In particular, the statements herein regarding industry prospects and future results of operations or financial position are forward-looking statements.  These forward-looking statements can be identified by the use of words such as “believes,” “estimates,” “could,” “possibly,” “probably,” anticipates,” “projects,” “expects,” “may,” “will,” or “should” or other variations or similar words.  No assurances can be given that the future results anticipated by the forward-looking statements will be achieved.  Forward-looking statements reflect management’s current expectations and are inherently uncertain.  Our actual results may differ significantly from management’s expectations.

The following discussion and analysis should be read in conjunction with our financial statements, included herewith.  This discussion should not be construed to imply that the results discussed herein will necessarily continue into the future, or that any conclusion reached herein will necessarily be indicative of actual operating results in the future.  Such discussion represents only the best present assessment of our management.

Three Months Ended March 31, 2016

Net revenue for the three months ended March 31, 2016, was $0.

General and administrative expenses for the three months ended March 31, 2016, were $128,158.

Our net loss was $(128,158) for the three months ended March 31, 2016.

Liquidity and Capital Resources

Cash and cash equivalents were $90,024 at March 31, 2016. Our total current assets were $90,024 at March 31, 2016. Our total current liabilities were $214,050 at March 31, 2016.

We had a negative working capital at March 31, 2016, of $(124,026), compared to negative working capital of $(95,868) at December 31, 2015.

Net cash used in operating activities during the three months ended March 31, 2016, was ($100,020).

Net cash provided by financing activities for the three months ended March 31, 2016, was $135,912, which was due to proceeds from sales of our common stock and an advance from our officer.

Net change in cash and cash equivalents was an increase of $35,892 for the three months ended March 31, 2016.

Inflation

Our opinion is that inflation has not had a material effect on our operations and is not expected to have any material effect on our operations.

9

Climate Change

Our opinion is that neither climate change, nor governmental regulations related to climate change, have had, or are expected to have, any material effect on our operations.

Item 3.    Quantitative and Qualitative Disclosures About Market Risk.

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

Item 4.   Controls and Procedures.

As of the end of the period covered by this report, we conducted an evaluation, under the supervision and with the participation of our Chief Executive Officer and Chief Financial Officer, of our disclosure controls and procedures (as defined in Rule 13a-15(e) and Rule 15d-15(e) of the Exchange Act). Based upon this evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were effective as of end of the period covered by this report to ensure that information required to be disclosed by us in the reports that we file or submit under the Securities Exchange Act of 1934 is (1) accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure; and (2) recorded, processed, summarized and reported, within the time periods specified in the rules and forms of the Securities and Exchange Commission.

There was no change to our internal controls or in other factors that could affect these controls during our last fiscal quarter that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

PART II – OTHER INFORMATION

Item 1.   Legal Proceedings.

None.

Item 1A. Risk Factors.  

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

Item 2.   Unregistered Sales of Equity Securities and Use of Proceeds.

None.

Item 3.   Defaults Upon Senior Securities.

None.

Item 4.   Mine Safety Disclosures.

Not applicable.

Item 5.   Other Information.

None.

10

Item 6.        Exhibits.

The following exhibits are filed as part of this quarterly report, pursuant to Item 601 of Regulation S-K.  All exhibits are attached hereto unless otherwise noted.

Exhibit Number	Description
3.1*	Articles of Incorporation
3.2*	Certificate of Amendment to Articles of Incorporation
3.3*	Bylaws
3.4**	Certificate of Correction of Articles of Incorporation
10.1*	Distribution Agreement dated May 1, 2015 between A.C. (USA) Inc. and the Company
31***	Certification by Principal Executive Officer and Principal Financial Officer, required by Rule 13a-14(a) or Rule 15d-14(a) of the Exchange Act.***
32***	Certification by Principal Executive Officer and Principal Financial Officer, required by Rule 13a-14(b) or Rule 15d-14(b) of the Exchange Act and Section 1350 of Chapter 63 of Title 18 of the United States Code.***

* Included as an exhibit with that Registration Statement on Form S-1 filed with the SEC on September 10, 2015.

** Included as an exhibit with that Registration Statement on Form S-1/A filed with the SEC on October 21, 2015.

*** Filed herewith.

11

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.

EOS Inc.

Date: May 13, 2016	By:	/s/ Yu Cheng Yang
		Yu Cheng Yang
		Principal Executive Officer, Principal Financial Officer, President and Chairman of the Board

12

EX-31

EXHIBIT 31

CERTIFICATION

I, Yu Cheng Yang, certify that:

1. I have reviewed this quarterly report on Form 10-Q of EOS Inc. (the “registrant”);

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 this 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 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 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 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 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.

May 13, 2016

/s/ Yu Cheng Yang

Yu Cheng Yang

Principal Executive Officer and Principal Financial Officer

EX-32

EXHIBIT 32

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 EOS Inc. (the "Company") on Form 10-Q for the quarter ended March 31, 2016, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), the undersigned officer of the Company hereby certifies, pursuant to 18 U.S.C. section 906 of the Sarbanes-Oxley Act of 2002, to such officer’s knowledge that:

(i)  the Report fully complies with the requirements of Section 13(a) or Section 15(d), as applicable, of the Securities Exchange Act of 1934, as amended (subject to the Company's position prevailing in regard to the remaining unresolved SEC comment, as more fully described in the Report); and

(ii)  the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

May 13, 2016

/s/ Yu Cheng Yang

Principal Executive Officer and Principal Financial Officer

XML

Document Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 10, 2016
Document And Entity Information [Abstract]
Entity Registrant Name	EOS INC.
Entity Central Index Key	0001651958
Trading Symbol	eoin
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		64,122,997
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Amendment Flag	false
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q1

XML

BALANCE SHEETS - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Current Assets
Cash and cash equivalents	$ 90,024	$ 54,132
Total current assets	90,024	54,132
Total Assets	90,024	54,132
Current Liabilities
Accrued expenses	28,138
Due to related parties	185,912	150,000
Total current liabilities	214,050	150,000
Stockholders' Deficit
Common stock, $0.001 par value; 750,000,000 shares authorized, 64,122,997 and 54,122,997 shares issued and outstanding, respectively	64,123	54,123
Additional paid-in capital	90,000
Accumulated deficits	(278,149)	(149,991)
Total stockholders' deficit	(24,026)	(95,868)
Total Liabilities and Stockholders' Deficit	$ 90,024	$ 54,132

XML

BALANCE SHEETS (Parentheticals) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	750,000,000	750,000,000
Common stock shares issued	64,122,997	54,122,997
Common stock, shares outstanding	64,122,997	54,122,997

XML

STATEMENTS OF OPERATIONS (UNAUDITED)	3 Months Ended
	Mar. 31, 2016 USD ($) $ / shares shares
Income Statement [Abstract]
Net revenue
General and administrative expenses	$ 128,158
Loss from operations	(128,158)
Loss before income taxes	$ (128,158)
Provision for income taxes expense
Net loss	$ (128,158)
Weighted average number of shares outstanding:
Basic and diluted (in shares) | shares	58,188,931
Net loss per share:
Basic and diluted (in dollars per share) | $ / shares	$ (0.00)

XML

STATEMENT OF CASH FLOWS (UNAUDITED)	3 Months Ended
	Mar. 31, 2016 USD ($)
Cash Flows from Operating Activities
Net loss	$ (128,158)
Changes in assets and liabilities:
Increase in accrued expenses	28,138
Net cash used in operating activities	(100,020)
Cash Flows from Financing Activities
Proceeds from issuance of common stock	100,000
Advance from officers	100,000
Repayment of loan from officers	(64,088)
Net cash provided by financing activities	135,912
Net increase in cash and cash equivalents	35,892
Cash and Cash Equivalents
Beginning	54,132
Ending	$ 90,024
Cash paid during the year for:
Interest
Income taxes

XML

NATURE OF OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES

3 Months Ended

Mar. 31, 2016

Nature Of Operations And Summary Of Accounting Policies [Abstract]

NATURE OF OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES

NOTE 1. NATURE OF OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) for interim financial reporting and in accordance with instructions for Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, the unaudited condensed consolidated financial statements contained in this report reflect all adjustments that are normal and recurring in nature and considered necessary for a fair presentation of the financial position and the results of operations for the interim periods presented. The year-end condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. The results of operations for the interim period are not necessarily indicative of the results expected for the full year.

Basis of Presentation and Organization

EOS Inc., a company in the developmental stage (the “Company”), was incorporated on April 3, 2015 in the State of Nevada. The Company has conducted limited business operations and had no revenues from operations since its inception. The Company‘s business plan is to market and distribute skin care products, including masks and serums.

Going Concern

These financial statements were prepared on the basis of accounting principles applicable to going concern, which assumes the realization of assets and discharge of liabilities in the normal course of business. As shown in the accompanying financial statements, the Company had accumulated deficits of $278,149 and $149,991 as of March 31, 2016 and December 31, 2015, respectively, and it had no revenue from operations.

The Company faces all the risks common to companies at development stage, including capitalization and uncertainty of funding sources, high initial expenditure levels, uncertain revenue streams, and difficulties in managing growth. The Company's losses raise substantial doubt about its ability to continue as a going concern. The Company's financial statements do not reflect any adjustments that might result from the outcome of this uncertainty.

The Company is currently addressing its liquidity issue by continually seeking additional funds through private placements of its securities and/or capital contributions and loans by Yu-Cheng Yang, its president and sole director. The Company believes its current and future plans enable it to continue as a going concern. The Company's ability to achieve these objectives cannot be determined at this time.

These financial statements do not give effect to any adjustments which would be necessary should the Company be unable to continue as a going concern and therefore be required to realize its assets.and discharge its liabilities in other than the normal course of business and at amounts which may differ from those in the accompanying consolidated financial statements.

Use of Estimates

The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America 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 of the financial statements and the amount of revenues and expenses during the reporting periods. Management makes these estimates using the best information available at the time the estimates are made. However, actual results could differ materially from those results.

Cash and Cash Equivalents

Cash and cash equivalents include cash and all highly liquid instruments with original maturities of three months or less.

Net Income (loss) per Share

Basic income (loss) per share is computed by dividing net income by weighted average number of shares of common stock outstanding during each period. Diluted income per share is computed by dividing net loss by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during each period. At March 31, 2016, the Company does not have any outstanding common stock equivalents; therefore, a separate computation of diluted loss per share is not presented.

Income Taxes

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recognized if it is more likely than not that some portion, or all, of a deferred tax asset will not be realized. The deferred income tax assets were $0 as of both March 31, 2016 and December 31, 2015.

The Company applied the provisions of ASC 740-10-50, “Accounting For Uncertainty In Income Taxes”, which provides clarification related to the process associated with accounting for uncertain tax positions recognized in our financial statements. Audit periods remain open for review until the statute of limitations has passed. The completion of review or the expiration of the statute of limitations for a given audit period could result in an adjustment to the Company’s liability for income taxes. Any such adjustment could be material to the Company’s results of operations for any given quarterly or annual period based, in part, upon the results of operations for the given period. At March 31, 2016, management considered that the Company had no uncertain tax positions, and will continue to evaluate for uncertain positions in the future.

Reclassifications 

Certain classifications have been made to the prior year financial statements to conform to the current year presentation. The reclassification had no impact on previously reported net loss or accumulated deficit.

Recent Accounting Pronouncements

The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on its result of operations, financial position or cash flow.

Subsequent events

Management has evaluated subsequent events through April 28, 2016, the date which the financial statements were available to be issued. All subsequent events requiring recognition as of March 31, 2016 have been incorporated into these consolidated financial statements and there are no subsequent events that require disclosure in accordance with FASB ASC Topic 855, “Subsequent Events.”

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ACCRUED EXPENSES

3 Months Ended

Mar. 31, 2016

Accrued Liabilities [Abstract]

ACCRUED EXPENSES

NOTE 2. ACCRUED EXPENSES

Accrued expenses consist of the following:

	March 31, 2016		December 31, 2015
Accrued professional fees	$	28,138	$	-
	$	28,138	$	-

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DUE TO RELATED PARTIES

3 Months Ended

Mar. 31, 2016

Related Party Transactions [Abstract]

DUE TO RELATED PARTIES

NOTE 3. DUE TO RELATED PARTIES

The Company has advanced funds from its officer and shareholder for working capital purposes. As of March 31, 2016 and December 31, 2015, there were $185,912 and $150,000 advances outstanding, respectively. The Company has agreed that the outstanding balances bear 0% interest rate and are due upon demand after 30 days written notice by the officer and shareholder.

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INCOME TAXES

3 Months Ended

Mar. 31, 2016

Income Tax Disclosure [Abstract]

INCOME TAXES

NOTE 4. INCOME TAXES

As of March 31, 2016, the Company had net operating loss carry forwards of approximately $278,149 that may be available to reduce future years’ taxable income through 2035. 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.

The provision for Federal income tax consists of the following for the three months ended March 31, 2016

	For the three-months ended March 31, 2016
Federal income tax benefit attributable to:
Current Operations	$	43,574
Less: valuation allowance		(43,574	)
Net provision for Federal income taxes	$	-

The tax effects of temporary differences and carryforwards that give rise to significant portions of deferred tax assets and liabilities consist of the following as of March 31, 2016 and December 31, 2015:

	March 31, 2016			December 31, 2015
Deferred tax asset attributable to:
Net operating loss carryover	$	94,571		$	50,997
Less: valuation allowance		(94,571	)		(50,997	)
Net deferred tax asset	$	-		$	-

The difference between the effective rate reflected in the provision for income taxes on loss before taxes and the amounts determined by applying the applicable statutory U.S. tax rate are analyzed below:

	For the three-month ended March 31, 2016
Statutory tax benefit		(34	)%
Nondeductible/nontaxable items		-	%
Change in deferred tax asset valuation allowance		34	%
Provision for income taxes		-	%

For the three months ended March 31, 2016, the Company had no unrecognized tax benefits and related interest and penalties expenses. Currently, the Company is not subject to examination by major tax jurisdictions.

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STOCKHOLDERS' DEFICIT

3 Months Ended

Mar. 31, 2016

Equity [Abstract]

STOCKHOLDERS' DEFICIT

NOTE 5. STOCKHOLDERS’ DEFICIT

From April 3, 2015 to December 31, 2015, the Company has issued 54,122,997 common stock shares at par value in a total amount of $54,123 from its shareholders.

On February 24, 2016, the Company has issued 10,000,000 shares of its $0.001 par value common stock shares at a purchase price of $0.01 per share in a total amount of $100,000 from fifteen shareholders.

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NATURE OF OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES (Policies)

3 Months Ended

Mar. 31, 2016

Nature Of Operations And Summary Of Accounting Policies [Abstract]

Basis of Presentation

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) for interim financial reporting and in accordance with instructions for Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, the unaudited condensed consolidated financial statements contained in this report reflect all adjustments that are normal and recurring in nature and considered necessary for a fair presentation of the financial position and the results of operations for the interim periods presented. The year-end condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. The results of operations for the interim period are not necessarily indicative of the results expected for the full year.

Going Concern

Going Concern

These financial statements were prepared on the basis of accounting principles applicable to going concern, which assumes the realization of assets and discharge of liabilities in the normal course of business. As shown in the accompanying financial statements, the Company had accumulated deficits of $278,149 and $149,991 as of March 31, 2016 and December 31, 2015, respectively, and it had no revenue from operations.

The Company faces all the risks common to companies at development stage, including capitalization and uncertainty of funding sources, high initial expenditure levels, uncertain revenue streams, and difficulties in managing growth. The Company's losses raise substantial doubt about its ability to continue as a going concern. The Company's financial statements do not reflect any adjustments that might result from the outcome of this uncertainty.

The Company is currently addressing its liquidity issue by continually seeking additional funds through private placements of its securities and/or capital contributions and loans by Yu-Cheng Yang, its president and sole director. The Company believes its current and future plans enable it to continue as a going concern. The Company's ability to achieve these objectives cannot be determined at this time.

These financial statements do not give effect to any adjustments which would be necessary should the Company be unable to continue as a going concern and therefore be required to realize its assets.

and discharge its liabilities in other than the normal course of business and at amounts which may differ from those in the accompanying consolidated financial statements.

Use of Estimates

Use of Estimates

The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America 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 of the financial statements and the amount of revenues and expenses during the reporting periods. Management makes these estimates using the best information available at the time the estimates are made. However, actual results could differ materially from those results.

Cash and cash equivalents

Cash and Cash Equivalents

Cash and cash equivalents include cash and all highly liquid instruments with original maturities of three months or less.

Net Income (loss) per Share

Net Income (loss) per Share

Basic income (loss) per share is computed by dividing net income by weighted average number of shares of common stock outstanding during each period. Diluted income per share is computed by dividing net loss by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during each period. At March 31, 2016, the Company does not have any outstanding common stock equivalents; therefore, a separate computation of diluted loss per share is not presented.

Income Taxes

Income Taxes

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recognized if it is more likely than not that some portion, or all, of a deferred tax asset will not be realized. The deferred income tax assets were $0 as of both March 31, 2016 and December 31, 2015.

The Company applied the provisions of ASC 740-10-50, “Accounting For Uncertainty In Income Taxes”, which provides clarification related to the process associated with accounting for uncertain tax positions recognized in our financial statements. Audit periods remain open for review until the statute of limitations has passed. The completion of review or the expiration of the statute of limitations for a given audit period could result in an adjustment to the Company’s liability for income taxes. Any such adjustment could be material to the Company’s results of operations for any given quarterly or annual period based, in part, upon the results of operations for the given period. At March 31, 2016, management considered that the Company had no uncertain tax positions, and will continue to evaluate for uncertain positions in the future.

Reclassifications

Reclassifications

Certain classifications have been made to the prior year financial statements to conform to the current year presentation. The reclassification had no impact on previously reported net loss or accumulated deficit.

Recent Accounting Pronouncements

Recent Accounting Pronouncements

The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on its result of operations, financial position or cash flow.

Subsequent events

Subsequent events

Management has evaluated subsequent events through April 28, 2016, the date which the financial statements were available to be issued. All subsequent events requiring recognition as of March 31, 2016 have been incorporated into these consolidated financial statements and there are no subsequent events that require disclosure in accordance with FASB ASC Topic 855, “Subsequent Events.”

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ACCRUED EXPENSES (Tables)

3 Months Ended

Mar. 31, 2016

Accrued Liabilities [Abstract]

Schedule of Accrued expenses

	March 31, 2016		December 31, 2015
Accrued professional fees	$	28,138	$	-
	$	28,138	$	-

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INCOME TAXES (Tables)

3 Months Ended

Mar. 31, 2016

Income Tax Disclosure [Abstract]

Schedule of provision for Federal income tax

	For the three-months ended March 31, 2016
Federal income tax benefit attributable to:
Current Operations	$	43,574
Less: valuation allowance		(43,574	)
Net provision for Federal income taxes	$	-

Schedule of deferred tax assets and liabilities

	March 31, 2016			December 31, 2015
Deferred tax asset attributable to:
Net operating loss carryover	$	94,571		$	50,997
Less: valuation allowance		(94,571	)		(50,997	)
Net deferred tax asset	$	-		$	-

Schedule of effective income tax rate

	For the three-month ended March 31, 2016
Statutory tax benefit		(34	)%
Nondeductible/nontaxable items		-	%
Change in deferred tax asset valuation allowance		34	%
Provision for income taxes		-	%

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NATURE OF OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES (Detail Textuals) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Nature Of Operations And Summary Of Accounting Policies [Abstract]
Accumulated deficits	$ (278,149)	$ (149,991)
Deferred income tax assets

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ACCRUED EXPENSES (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Payables and Accruals [Abstract]
Accrued professional fees	$ 28,138
Accrued expenses	$ 28,138

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DUE TO RELATED PARTIES (Detail Textuals) - USD ($)	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Related Party Transactions [Abstract]
Advances outstanding of officer and shareholder	$ 185,912	$ 150,000
Interest rate of outstanding balances	0.00%
Due of written notice by officer and shareholder	30 days

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INCOME TAXES (Details)	3 Months Ended
	Mar. 31, 2016 USD ($)
Federal income tax benefit attributable to:
Current Operations	$ 43,574
Less: valuation allowance	$ (43,574)
Net provision for Federal income taxes

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INCOME TAXES (Details 1) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Deferred tax asset attributable to:
Net operating loss carryover	$ 94,571	$ 50,997
Deferred Tax Assets, Valuation Allowance	$ (94,571)	$ (50,997)
Net deferred tax asset

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INCOME TAXES (Details 2)	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Statutory tax benefit	(34.00%)
Nondeductible/nontaxable items
Change in deferred tax asset valuation allowance	34.00%
Provision for income taxes

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INCOME TAXES (Details Textuals)	Mar. 31, 2016 USD ($)
Income Tax Disclosure [Abstract]
Operating Loss Carryforwards	$ 278,149

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STOCKHOLDERS' DEFICIT (Detail Textuals)	1 Months Ended	9 Months Ended
	Feb. 24, 2016 USD ($) Shareholder $ / shares shares	Dec. 31, 2015 USD ($) $ / shares shares	Mar. 31, 2016 $ / shares shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common Stock, Shares, Issued | shares		54,122,997	64,122,997
Common stock, par value (in dollars per share) | $ / shares		$ 0.001	$ 0.001
Shareholders
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issuance | $	$ 100,000
Common Stock, Shares, Issued | shares	10,000,000
Common stock, par value (in dollars per share) | $ / shares	$ 0.001
Shares issued, price per share | $ / shares	$ 0.01
Number of shareholders | Shareholder	15
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issuance (in shares) | shares		54,122,997
Common stock issuance | $		$ 54,123