10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarterly Period Ended September 30, 2019

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ______________ to ______________

Commission File No. 000-55670

Monetiva Inc.

(Exact name of small business issuer as specified in its charter)

DELAWARE	81-3495101
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

4695 MacArthur Court, Suite 450

Newport Beach, CA 92660

(Address of principal executive offices)

(949) 387-9799

(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 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 during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☐ No ☒

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “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	☐	Smaller reporting company	☒
		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 Act). Yes ☒ No ☐

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.0001 par value per share

The number of shares of Common Stock, $0.0001 par value, of the registrant outstanding at January 3, 2020 was 26,611,264.

TABLE OF CONTENTS

	Page No.
PART I.	1
Item 1. Financial Statements.	1
Condensed Balance Sheets as of September 30, 2019 (Unaudited) and December 31, 2018	1
Condensed Statements of Operations for the Three Months and Nine Months ended September 30, 2019 and 2018 (Unaudited)	2
Condensed Statements of Stockholders’ Equity (Deficit) for the Three Months and Nine Months ended September 30, 2019 and 2018 (Unaudited)	3
Condensed Statements of Cash Flows for the Nine Months ended September 30, 2019 and 2018 (Unaudited)	4
Notes to Unaudited Condensed Financial Statements	5
Item 2. Management’s Discussion and Analysis or Plan of Operation	13
Item 3. Quantitative and Qualitative Disclosures About Market Risks.	17
Item 4. Controls and Procedures	17
PART II.	19
Item 1. Legal Proceedings.	19
Item 1A. Risk Factors.	19
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.	19
Item 3. Defaults Upon Senior Securities.	19
Item 4. Mine Safety Disclosures.	19
Item 5. Other Information.	19
Item 6. Exhibits.	19
SIGNATURES	20
EXHIBIT INDEX	21

i

FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10-Q (“Form 10-Q”) contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including, but not limited to, any projections of earnings, revenue or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements concerning proposed new products or developments; any statements regarding future economic conditions or performance; any statements of belief; and any statements of assumptions underlying any of the foregoing. Although we believe that the expectations reflected in any of our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and inherent risks and uncertainties.

Forward-looking statements may include the words “may,” “could,” “will,” “estimate,” “intend,” “continue,” “believe,” “expect,” “desire,” “goal,” “should,” “objective,” “seek,” “plan,” “strive” or “anticipate,” as well as variations of such words or similar expressions, or the negatives of these words. These forward-looking statements present our estimates and assumptions only as of the date of this Form 10-Q. Except for our ongoing obligation to disclose material information as required by the federal securities laws, we do not intend, and undertake no obligation, to update any forward-looking statement. We caution readers not to place undue reliance on any such forward-looking statements. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes will likely vary materially from those indicated.

ii

PART I.

Item 1. Financial Statements.

MONETIVA INC.

CONDENSED BALANCE SHEETS

	September 30, 2019			December 31, 2018
	(UNAUDITED)
ASSETS
Current Assets
Cash	$	530,616		$	10,039
Prepaid expenses		847,780			350,480
Rent deposits		40,136			25,136
Other current assets		11,572			-
Total Current Assets		1,430,104			385,655
Right of use asset		23,142			-
Total Assets	$	1,453,246		$	385,655
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Accrued liabilities	$	100,756		$	137,609
Accrued payroll - officer		236,910			78,260
Deferred rent		-			7,960
Operating lease liability		24,722			-
Loan payable		-			55,000
Payable to officer		-			400
Total Current Liabilities		362,388			279,229
Total Liabilities		362,388			279,229
Commitments and Contingencies
Stockholders’ Equity
Preferred stock, $0.0001 par value, 20,000,000 shares authorized; none issued and outstanding at September 30, 2019 and December 31, 2018, respectively		-			-
Common stock, $0.0001 par value, 100,000,000 shares authorized; 22,866,000 shares and 8,000,000 shares issued and outstanding at September 30, 2019 and December 31, 2018, respectively		2,287			800
Additional paid-in capital		1,254,525			4,312
Stock subscriptions received in advance		1,171,752			690,500
Stock subscriptions receivable		(200,000	)		-
Accumulated deficit		(1,137,706	)		(589,186	)
Total Stockholders’ Equity		1,090,858			106,426
Total Liabilities and Stockholders’ Equity	$	1,453,246		$	385,655

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

1

MONETIVA INC.

CONDENSED STATEMENTS OF OPERATIONS

(UNAUDITED)

	For the Three Months Ended						For the Nine Months Ended
	September 30, 2019			September 30, 2018			September 30, 2019			September 30, 2018
	(UNAUDITED)			(UNAUDITED)			(UNAUDITED)			(UNAUDITED)
Revenue	$	-		$	-		$	-		$	-
Cost of Revenue		-			-			-			-
Gross Profit		-			-			-			-
Operating Expenses
General and administrative		261,286			132,580			598,608			374,796
Total Operating Expenses		(261,286	)		(132,580	)		(598,608	)		(374,796	)
Other Income (Expenses)
Interest expense		-			(160	)		-			(160	)
Rental income		18,851			-			50,088			-
Total Other Income (Expense)		18,851			(160	)		50,088			(160	)
Loss before Income Taxes		(242,435	)		(132,740	)		(548,520	)		(374,956	)
Provision for Income Tax		-			-			-			-
Net Loss	$	(242,435	)	$	(132,740	)	$	(548,520	)	$	(374,956	)
Loss per Share - Basic and Diluted	$	(0.01	)	$	(0.02	)	$	(0.02	)	$	(0.05	)
Weighted Average Shares Outstanding - Basic and Diluted		22,813,826			8,000,000			21,956,022			8,000,000

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

2

MONETIVA INC.

CONDENSED STATEMENTS OF STOCKHOLDERS’ EQUITY

FOR THE THREE MONTHS AND NINE MONTHS ENDED SEPTEMBER 30, 2019 AND 2018

(UNAUDITED)

	Common Stock				Additional Paid-in		Stock Subscriptions Received in		Subscriptions		Accumulated			Total Stockholders’
	Shares		Amount		Capital		Advance		Receivable		Deficit			Equity
FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2018
Balance - July 1, 2018		8,000,000	$	800	$	4,312	$	525,500	$	-	$	(296,128	)	$	234,484
Stock subscriptions received in advance		-		-		-		140,000		-		-			140,000
Net loss		-		-		-		-		-		(132,740	)		(132,740	)
Balance - September 30, 2018		8,000,000	$	800	$	4,312	$	665,500	$	-	$	(428,868	)	$	241,744
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2018
Balance - January 1, 2018		8,000,000	$	800	$	4,312	$	-	$	-	$	(53,912	)	$	(48,800	)
Stock subscriptions received in advance		-		-		-		665,500		-		-			665,500
Net loss		-		-		-		-		-		(374,956	)		(374,956	)
Balance - September 30, 2018		8,000,000	$	800	$	4,312	$	665,500	$	-	$	(428,868	)	$	241,744

	Common Stock				Additional Paid-in		Stock Subscriptions Received in			Subscriptions			Accumulated			Total Stockholders’
	Shares		Amount		Capital		Advance			Receivable			Deficit			Equity
FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2019
Balance - July 1, 2019		22,666,000	$	2,267	$	1,054,545	$	1,078,752		$	(200,000	)	$	(895,271	)	$	1,040,293
Common stock issued for stock subscriptions		200,000		20		199,980		-			-			-			200,000
Stock subscriptions received in advance		-		-		-		93,000			-			-			93,000
Net loss		-		-		-		-			-			(242,435	)		(242,435	)
Balance - September 30, 2019		22,866,000	$	2,287	$	1,254,525	$	1,171,752		$	(200,000	)	$	(1,137,706	)	$	1,090,859
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2019
Balance - January 1, 2019		8,000,000	$	800	$	4,312	$	690,500		$	-		$	(589,186	)	$	106,426
Common stock issued as compensation to officer		12,000,000		1,200		-		-			-			-			1,200
Common stock issued for stock subscriptions		1,866,000		187		750,313		(690,500	)		-			-			60,000
Stock subscriptions received in advance		-		-		-		1,171,752			-			-			1,171,752
Stock subscriptions receivable		1,000,000		100		499,900		-			(200,000	)		-			300,000
Net loss		-		-		-		-			-			(548,520	)		(548,520	)
Balance - September 30, 2019		22,866,000	$	2,287	$	1,254,525	$	1,171,752		$	(200,000	)	$	(1,137,706	)	$	1,090,858

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

3

MONETIVA INC.

CONDENSED STATEMENTS OF CASH FLOWS

(UNAUDITED)

	For the Nine Months Ended
	September 30, 2019			September 30, 2018
	(UNAUDITED)			(UNAUDITED)
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$	(548,520	)	$	(374,956	)
Adjustment to reconcile net loss to net cash used in operating activities:
Common stock issued for services		1,200			-
Changes in Operating Assets and Liabilities:
(Increase) in prepaid expense		(497,300	)		(256,280	)
(Increase) in other current assets		(11,572	)		-
(Increase) in rent deposits		(15,000	)		(25,136	)
Increase (decrease) in accrued liabilities		(36,853	)		39,587
Increase (decrease) in accrued payroll of officer		158,650			7,060
Increase (decrease) in deferred rent		(6,380	)		9,233
Net Cash Used in Operating Activities		(955,775	)		(600,492	)
CASH FLOWS FROM FINANCING ACTIVITIES
Cash payments on loan payable		(55,000	)		-
Cash proceeds from (payment to) officer for short term advances		(400	)		400
Cash proceeds from stock subscriptions received in advance		1,171,752			665,500
Cash proceeds from sale of common stock		200,000			-
Cash proceeds from stock subscriptions receivable		160,000			-
Net Cash Provided By Financing Activities		1,476,352			665,900
Net Increase in Cash		520,577			65,408
Cash - Beginning of the Period		10,039			-
Cash - End of the Period	$	530,616		$	65,408
Supplemental Disclosures of Cash Flows
Cash paid for Interest	$	-		$	160
Cash paid for income taxes	$	-		$	-
Supplemental Disclosures of Non-Cash Investing and Financing Activities:
Common stock issued for stock subscriptions received in advance	$	690,500		$	-
Common stock issued for stock subscriptions receivable	$	360,000		$	-
Accrued compensation of officer	$	-		$	105,800

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

4

MONETIVA INC.

NOTES TO CONDENSED FINANCIAL STATEMENTS

September 30, 2019 and 2018

(UNAUDITED)

NOTE 1 – NATURE OF OPERATIONS, BASIS OF PRESENTATION AND GOING CONCERN

Monetiva Inc. (formerly known as American Standard Wallet, Inc. and Lark Street Acquisition Corporation, or “Monetiva” or the “Company”), a Delaware corporation, was incorporated on July 22, 2016 under the laws of the state of Delaware to engage in any lawful corporate undertaking, including, but not limited to, selected mergers and acquisitions. The Company has been in the developmental stage since inception and its operations to date have been limited to issuing shares to its original shareholders.

As of January 3, 2020, the Company has a total of 26,611,264 shares of common stock of the Company issued and outstanding. Of all shares issued and outstanding, a total of 20,000,000 common shares have been issued to the Company’s Board of Director and Founder of the Company, representing approximately 75.16% of the total shares issued and outstanding as of the date of this Report.

Basis of Presentation

The accompanying interim condensed financial statements are unaudited, but in the opinion of management of the Company, contain all adjustments, which include normal recurring adjustments necessary to present fairly the financial position at September 30, 2019, and the results of operations and cash flows for the three months and nine months ended September 30, 2019. The balance sheet as of December 31, 2018 is derived from the Company’s audited financial statements.

Certain information and footnote disclosures normally included in financial statements that have been prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission, although management of the Company believes that the disclosures contained in these interim condensed financial statements are adequate to make the information presented therein not misleading. For further information, refer to the financial statements and the notes thereto contained in the Company’s 2018 Annual Report filed with the Securities and Exchange Commission on Form 10-K on November 15, 2019.

Effective January 1, 2019, the Company adopted the requirements of Accounting Standards Update (“ASU”) ASU, No. 2016-02, Leases, as discussed in NOTE 2 and NOTE 7.

Going Concern

The Company’s 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 the satisfaction of liabilities in the normal course of business. The Company has not yet generated any revenue and has suffered operating losses since July 22, 2016 (Inception Date) to date and allow it to continue as a going concern. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary financing to continue operations, and the attainment of profitable operations. The Company incurred a net loss of $548,520 for the nine months ended September 30, 2019, used net cash in operating activities of $955,775, and has an accumulated deficit of $1,137,706 as of September 30, 2019. These factors, among others raise a substantial doubt regarding the Company’s ability to continue as a going concern. If the Company is unable to obtain adequate capital, it could be forced to cease operations. The accompanying financial statements do not include any adjustments to reflect the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

5

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The following summary of significant accounting policies of the Company is presented to assist in the understanding of the Company’s financial statements. The financial statements and notes are the representation of the Company’s management who is responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America (“GAAP”) in all material respects and have been consistently applied in preparing the accompanying financial statements.

Except for the accounting policies for leases that were updated, as set forth below, as a result of adopting ASU No. 2016-02, there have been no changes to the Company’s significant accounting policies described in the Annual Report on Form 10-K for the year ended December 31, 2018 filed with the SEC on November 15, 2019, that have had a material impact on the Company’s condensed consolidated financial statements and related notes.

Use of Estimates

The preparation of financial statements in conformity with GAAP 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 reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the valuation of accounts payable, accrued liabilities and payable to related party. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.

Cash and Cash Equivalents

The Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents. The Company had a cash balance of $530,616 and $10,039 as of September 30, 2019 and December 31, 2018, respectively.

Income Taxes

The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, “Income Taxes”. The asset and liability method provide that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax basis of assets and liabilities, and for operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. 

The Company follows the provisions of ASC 740-10, “Accounting for Uncertain Income Tax Positions.” When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. In accordance with the guidance of ASC 740-10, the benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above should be reflected as a liability for unrecognized tax benefits in the accompanying condensed balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination.

6

 Leases

The Company has operating leases for its offices. Management determines if an arrangement is a lease at inception of the contract and whether a contract is or contains a lease by determining whether it conveys the right to control the use of the identified asset for a period of time. If the contract provides the Company the right to substantially all of the economic benefits from the use of the identified asset and the right to direct the use of the identified asset, the Company consider it to be, or contain, a lease. The Company records a right-of-use asset and a corresponding lease liability based on the present value of the minimum lease payments. The lease term used in the calculation of right-of-use assets and lease liabilities include renewal and termination options that are reasonably certain to be exercised. Leases with an initial term of twelve months or less are not recorded on the balance sheet and the related lease expense is recognized on a straight-line basis over the lease term. Our leases do not provide an implicit borrowing rate, and we estimate the Company’s incremental borrowing rate to discount the lease payments based on information available at lease commencement. 

Earnings (Loss) Per Common Share

The Company computes net earnings (loss) per share in accordance with ASC 260, “Earnings per Share”. ASC 260 requires presentation of both basic and diluted net earnings per share (“EPS”) on the face of the income statement. Basic EPS is computed by dividing earnings (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible note and preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. At September 30, 2019 and December 31, 2018, there were no convertible notes, options or warrants available for conversion that if exercised, may dilute future earnings per share.

Fair value of Financial Instruments and Fair Value Measurements

ASC 820, “Fair Value Measurements and Disclosures”, requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value:

Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability.

Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

The Company’s financial instruments consist principally of cash, rent deposits and accrued liabilities. The Company believes that the recorded values of all the financial instruments approximate their current fair values because of their nature and respective maturity dates or durations.

Recent Accounting Pronouncements

New Accounting Pronouncements Effective January 1, 2019

Leases

In February 2016, the FASB issued Accounting Standards Update (“ASU”) ASU 2016-02, Leases (Topic 842). The updated guidance requires lessees to recognize lease assets and lease liabilities for most operating leases. In addition, the updated guidance requires that lessors separate lease and non-lease components in a contract in accordance with the new revenue guidance in ASC 606. The updated guidance is effective for interim and annual periods beginning after December 15, 2018.

The Company adopted the new standard on January 1, 2019 using the modified retrospective approach. The Company has elected to apply the transition method that allows companies to continue applying the guidance under the lease standard in effect at that time in the comparative periods presented in the consolidated financial statements and recognize a cumulative-effect adjustment to the opening balance of retained earnings on the date of adoption. The Company also elected the “package of practical expedients”, which permits us not to reassess under the new standard our prior conclusions about lease identification, lease classification and initial direct costs.

Results for reporting periods beginning after January 1, 2019 are presented under the new standard, while prior period amounts are not adjusted and continue to be reported under the accounting standards in effect for the prior period. Upon adoption of the new lease standard, on January 1, 2019, the Company capitalized right-of-use (“ROU”) assets of $124,524 and $132,485 of lease liabilities, within the Company’s condensed consolidated balance sheets upon adoption. Additionally, the Company reversed its deferred rent liability of $7,960, which upon adoption became a component of the right-of-use asset. The adoption of this standard did not have an impact on the Company’s condensed consolidated statement of operations or cash flows and did not result in a cumulative catch-up adjustment to the opening balance of retained earnings.

7

Accounting Standards Issued but Not Yet Adopted

In June 2018, the Financial Accounting Standards Board (“FASB”) issued ASU 2018-07, Compensation – Stock Compensation (Topic 718), Improvements to Nonemployee Share-Based Payment Accounting. This ASU is intended to simplify aspects of share-based compensation issued to non-employees by making the guidance consistent with accounting for employee share-based compensation. This guidance is effective for fiscal years beginning after December 15, 2019, including interim periods within that fiscal year. Early adoption is permitted. The Company is currently in the process of evaluating the impact of this guidance on its financial statements.

There were other updates recently issued accounting pronouncement. The Company’s management does not believe that other than disclosed above, accounting pronouncements that recently issued but not yet adopted will have a material impact on its financial position, results of operations or cash flows.

NOTE 3 – PREPAID EXPENSES

The Company has made prepayments to Endless One Global (“E1G”) with regard to E1G’s service in providing data processing, transaction processing and related services for the prepaid debit accounts created for the Company’s customers. As of September 30, 2019 and December 31, 2018, the prepayment to E1G were $824,780 and $350,480, respectively (See NOTE 8 - Service Agreement).

NOTE 4 – ACCRUED LIABILITIES

The Company had accrued liabilities primarily consisting of consulting and professional fees, payroll, franchise taxes and accrued payroll taxes totaling $100,756 and $137,609 as of September 30, 2019 and December 31, 2018, respectively.

NOTE 5 – RELATED PARTY TRANSACTIONS

Accrued Payroll – Officer

The Company has recorded accrued payroll liability to its Chief Executive officer (“Officer”) of $236,910 and $78,260 as of September 30, 2019 and December 31, 2018, respectively. During the three months and nine months ended September 30, 2019, the Officer received $0 and $3,500 of compensation as compared to $0 for the same comparable periods in 2018. The Company has recorded $54,450 and $163,350 as payroll expense of the Officer for the three months and nine months ended September 30, 2019, compared to $49,500 and $148,500 for the three months and nine months ended September 30, 2018, respectively (See NOTE 8). 

NOTE 6 – LOAN PAYABLE

On December 11, 2018, the Company received from a stockholder $55,000 in cash, a short-term loan bearing no interest, unsecured, and payable on demand but no later than February 28, 2019. The Company paid back the loan to the stockholder in two payments of $25,000 and $30,000 on February 4, 2019 and February 20, 2019, respectively. The Company recorded the loan payable of $0 and $55,000 as a current liability in the accompanying financial statements at September 30, 2019 and December 31, 2018, respectively.

NOTE 7 – LEASES

On February 9, 2018, the Company executed a non-cancellable operating lease for its principal office with the lease commencing March 1, 2018 for a period of 21 months maturing on November 30, 2019. The Company paid a security deposit of $25,136. The base rent of the lease was $12,202 for the first twelve months, increasing to $12,568 from the month thirteen to month twenty-one. The lease had a provision for rent abatement for only one month - April 2018. The Company has recorded rent expense of $35,333 and $105,999 for this non-cancellable lease for its principal office for the three months and nine months ended September 30, 2019 and $35,333 and $82,443 for the three months and nine months ended September 30, 2018, respectively.

The Company executed a month-to-month cancellable operating lease, leasing office space in an executive suite, commencing on January 1, 2019 for $169 per month. The Company recorded rent expense of $507 and $1,521 for the three months and nine months ended September 30, 2019.

On May 24, 2019, the Company executed a month-to-month rental agreement to lease furnished premises. The lease term commenced June 1, 2019 for a one-year term with a monthly rent of $11,500 per month from June 1, 2019 to May 31, 2020. The landlord required a security deposit of $15,000 on the commencement date of the lease, and an additional $10,000 security deposit on November 1, 2019. On May 30, 2019, the Company paid to the landlord security deposit of $15,000 and prepaid the rent of $69,000 for the six months ended November 30, 2019. The Company recorded the security deposit of $15,000 as rent deposit, and $34,500 and $46,000 as rent expense for the three months and nine months ended September 30, 2019 (See NOTE 10). 

The Company has recorded total rent expense of $70,340 and $153,520 for all its leases for the three months and nine months ended September 30, 2019 compared to $35,333 and $82,443 for the three months and nine months ended September 30, 2018, respectively. 

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Additional information related to the Company’s leases as of and for the nine months ended September 30, 2019, is as follows:

	September 30, 2019
Supplemental data
Weighted average remaining lease term		.17 years
Weighted average discount rate		9.00	%
Cash paid for amounts included in lease liabilities	$	112,379

Maturities of lease liabilities as of September 30, 2019 were as follows:

	September 30, 2019
Year ending December 31,
2019 (remaining)	$	25,136
Total minimum lease payments		25,136
Less: imputed interest		(414	)
Present value of future minimum lease payments	$	24,722

Fiscal year 2018 lease commitments in accordance with prior guidance

Future minimum lease commitments of the Company are as follows:

For the years ending December 31,	Amount
2019	$	25,136
Total	$	25,136

NOTE 8 – COMMITMENTS AND CONTINGENCIES

Operating Leases

See future minimum lease payments in NOTE 7.

Employment Agreement with Officer

On November 1, 2017, the Company entered into an employment agreement with its Officer for a one-year term, which shall be automatically renewed for successive one-year periods unless either party gives ninety (90) calendar days written notice of nonrenewal prior to the expiration of the then-current term. The Company granted 12,000,000 shares of its common stock to the Officer as a sign-on bonus valued at $1,200, and agreed to pay an annual base salary of $180,000 provided that the Officer’s base salary may be reduced to the extent that Officer elects to defer any portion thereof under the terms of any deferred compensation or savings plan maintained by the Company. In addition to the eligibility for consideration of merit-based increases in the discretion of the Board of Directors, Officer’s base salary will be increased effective January 1, of each year during the term commencing January 1, 2018 by ten percent (10%)  (See NOTE 5).

Service Agreement

On January 15, 2018, the Company entered into an agreement with E1G whereby, E1G will provide data processing, transaction processing and related services for the prepaid debit accounts created for the customers of the Company, for a period of five years. The agreement required a one-time upfront fee of $250,000 for each of the three (3) countries - USA, Mexico and India, for a total fee of $750,000 to initiate the process to establish three (3) Business Identification Numbers (“BINs”). Thereafter, the term will automatically be renewed for one (1) year period unless terminated by either party upon providing a written notice. The Company is expanding its footprint to additional countries and territories as part of its development plan to provide the same services. These territories will include European nations, Philippines, United Arab Emirates and China. The Company will pay E1G the processing fees as forth in the Agreement, any special fees, new products and technologies introduced by E1G (See NOTE 3).

Legal Costs and Contingencies

In the normal course of business, the Company incurs costs to hire and retain external legal counsel to advise it on regulatory, litigation and other matters. The Company expenses these costs as the related services are received.

If a loss is considered probable and the amount can be reasonable estimated, the Company recognizes an expense for the estimated loss. If the Company has the potential to recover a portion of the estimated loss from a third party, the Company makes a separate assessment of recoverability and reduces the estimated loss if recovery is also deemed probable. The Company was not aware of any loss contingencies as of September 30, 2019 and December 31, 2018, respectively.

NOTE 9 – STOCKHOLDERS’ EQUITY

The Company’s capitalization at September 30, 2019 was 100,000,000 authorized common shares with a par value of $0.0001 per share, and 20,000,000 authorized preferred shares with a par value of $0.0001 per share. 

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Common Stock

On January 14, 2019, the Company issued 12,000,000 shares of its common stock to its Officer as a sign-on bonus.

On January 14, 2019, the Company issued 1,616,000 shares of its common stock to investors and business promotors who had subscribed for the Company’s common stock during the year ended December 31, 2018.

On January 14, 2019, the Company issued 1,000,000 shares of its common stock to an investor who had subscribed for the Company’s common stock on September 24, 2018 for the purchase price of $0.50 per share. The Company has received from the subscriber $300,000 and $140,000 in cash consideration as of September 30, 2019 and December 31, 2018, respectively. As a result, the Company has recorded $200,000 and $0 as subscriptions receivable as of September 30, 2019 and December 31, 2018, respectively.

On February 25, 2019, the Company issued 50,000 shares of its common stock to two investors who had subscribed for the Company’s common stock in November 2018.

On June 18, 2019, an investor executed a stock subscription agreement to purchase 200,000 shares of common stock of the Company at $1.00 per share. The subscriber had paid $200,000 to the Company on July 16, 2019 for the purchase of the common stock. The Company issued 200,000 shares of common stock to the investor on July 24, 2019.

Stock Subscriptions Received in Advance

On February 27, 2019, an investor executed a stock subscription agreement to purchase 5,264 shares of common stock of the Company at $1.90 per share. The investor paid $10,002 to the Company on February 27, 2019. The Company has recorded $10,002 as subscriptions received in advance as of September 30, 2019. On October 10, 2019, the Company issued to the investor 5,264 shares of common stock for the stock subscriptions. 

On March 14, 2019, a former stockholder executed a stock subscription agreement to purchase 3,155,000 shares of common stock for $0.25 per share. The Company received a cash consideration of $788,750 from the shareholder and has recorded $788,750 as subscriptions received in advance as of September 30, 2019. On October 10, 2019, the Company issued 2,030,000 shares of common stock to the stockholder and the remaining 1,125,000 shares of common stock were distributed between the seventeen (17) family members pursuant to the stockholder’s instructions. 

On March 20, 2019, an investor executed a stock subscription agreement to purchase 50,000 shares of common stock of the Company at $2.00 per share. On March 27, 2019, the subscriber paid $100,000 to the Company for the stock subscriptions. The Company has recorded $100,000 as subscriptions received in advance as of September 30, 2019. On October 10, 2019, the Company issued to the investor 50,000 shares of common stock for the stock subscriptions. 

On April 3, 2019, an investor executed a stock subscription agreement to purchase 8,000 shares of common stock of the Company at $2.00 per share. The investor paid $16,000 to the Company on April 3, 2019 and the Company has recorded $16,000 as stock subscriptions received in advance as of September 30, 2019. The Company has issued the 8,000 shares of common stock to the investor on October 10, 2019. 

On April 9, 2019, an investor advanced the Company $4,000 towards the purchase of 16,000 shares of common stock. The Company has recorded $4,000 as stock subscriptions received in advance as of June 30, 2019. On October 10, 2019, the Company issued to the stockholder 16,000 shares of common stock for these stock subscriptions.

On May 16, 2019, an investor executed a stock subscription agreement to purchase 200,000 shares of common stock of the Company at $0.50 per share. The Company received cash consideration of $100,000 from the investor on May 16, 2019. The Company has recorded $100,000 as stock subscriptions received in advance as of September 30, 2019. The Company has issued the 200,000 shares of common stock to the investor on October 10, 2019.

On June 14, 2019, an investor executed a stock subscription agreement to purchase 5,000 shares of common stock of the Company at $2.00 per share. The Company received the cash consideration of $10,000 from an investor on July 10, 2019. The Company has recorded $10,000 as stock subscriptions received in advance as of September 30, 2019. On October 10, 2019, the Company issued to the investor 5,000 shares of its common stock for stock subscriptions.

On June 17, 2019, an investor executed a stock subscription agreement to purchase 240,000 shares of common stock of the Company at $0.25 per share. The subscriber had paid $60,000 to the Company on July 16, 2019 for the purchase of the common stock. The Company has recorded $60,000 as stock subscriptions received in advance as of September 30, 2019. The Company issued 240,000 shares of common stock to the investor on October 10, 2019.

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On August 14, 2019, an investor executed a stock subscription agreement to purchase 8,000 shares of the Company’s common stock for $2.00 per share. The Company received a cash consideration of $16,000 from the investor on August 16, 2019. The Company has recorded $16,000 as stock subscriptions received in advance as of September 30, 2019 for the purchase of the common stock. On October 10, 2019, the Company issued to the investor 8,000 shares of its common stock for stock subscriptions.

On September 17, 2019, two investors executed two separate subscription agreements to purchase 17,500 shares of the Company’s common stock at $2.00 per share. The Company received cash consideration of $35,000 from the investors on September 27, 2019. The Company has recorded $35,000 as stock subscriptions received in advance as of September 30, 2019. On October 23, 2019, the Company issued to the investors 17,500 shares of its common stock for stock subscriptions.

On September 19, 2019, an investor executed a stock subscription agreement to purchase 28,000 shares of the Company’s common stock at $0.25 per share. The Company received $7,000 for the stock subscriptions from the investor and recorded it as stock subscriptions received in advance as of September 30, 2019. On October 10, 2019, the Company issued to the investor 28,000 shares of common stock for these stock subscriptions.

On September 25, 2019, an investor executed a stock subscription agreement to purchase 12,500 shares of the Company’s common stock at $2.00 per share. The Company received cash consideration of $25,000 from the investor on September 27, 2019. The Company recorded $25,000 as stock subscriptions received in advance as of September 30, 2019. On October 23, 2019, the Company issued to the investors 12,500 shares of its common stock for stock subscriptions.

As a result of all common stock issuances, the total issued and outstanding shares of common stock were 22,866,000 shares and 8,000,000 shares at September 30, 2019 and December 31, 2018, respectively. In addition, the Company recorded $1,171,752 and $690,500 as stock subscriptions received in advance as of September 30, 2019 and December 31, 2018, respectively.

Preferred stock

No preferred stock was issued and outstanding as of September 30, 2019 and December 31, 2018, respectively.

NOTE 10 – SUBSEQUENT EVENTS

Management has evaluated subsequent events through the date of this Form 10-Q, the date the financial statements were available to be issued, noting the following items would impact the accounting for events or transactions in the current period or require additional disclosure.

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Equity Transactions

As a result of all stock issuances in the offerings, a total of 26,611,264 shares of common stock of the Company have been issued and outstanding as of the date of this Form 10-Q.

Lease Transaction

On October 1, 2019, pursuant to the terms of the lease agreement, the Company paid $79,000 to the landlord, consisting of an additional security deposit of $10,000 and $69,000 as prepaid rent for the six months term December 1, 2019 to May 31, 2020 (See NOTE 7).

Securities and Exchange Commission Order

On August 22, 2019, the Company became aware of an Securities and Exchange Commission Order Instituting Administrative Proceedings and Notice of Hearing alleging that the Company is delinquent in certain of its periodic filings with the Commission and indicating that administrative proceedings are intended to be held (i) to determine all delinquent filings and any defenses of the Company for any such delinquent filings, and (ii) to make a decision as whether it may be appropriate to take any action to suspend or revoke the Company’s registration of its securities. The date of the Commission Order is August 14, 2019. The Company is actively working to resolve any delinquent filings as quickly as possible and intends to demonstrate to the Commission its diligence in that regard and filed an answer in response to the assertions made by the Commission.

On September 18, 2019, the Division of Enforcement of the Securities and Exchange Commission filed with the Office of the Secretary a Motion for Ruling on the Pleadings Against the Company seeking an order to revoke each class of securities of the Company registered with the Commission pursuant to Section 12(j) of the Securities Exchange Act of 1934.  At this time, the Company is diligently working to eliminate its filing delinquencies, and intends to become current on its filings on or before December 31, 2019.

Service Agreement with E1G

On or about September 30, 2019, the Company entered into an oral agreement with E1G to provide data processing, transaction processing and related services for the prepaid debit accounts created for the Company’s customers in these additional countries - China, Europe, Philippines, Pakistan and United Arab Emirates. All other terms and conditions as set forth in the agreement to remain the same as per the January 15, 2018 agreement with E1G.

As of November 30, 2019, the Company has paid to E1G $924,780 as the processing fees to initiate and establish BINs for the Company in these selected countries.

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Item 2. Management’s Discussion and Analysis or Plan of Operation

This Quarterly Report Form 10-Q contains forward-looking statements. Our actual results could differ materially from those set forth as a result of general economic conditions and changes in the assumptions used in making such forward-looking statements. The following discussion and analysis of our financial condition and results of operations should be read together with the unaudited condensed financial statements and accompanying notes and the other financial information appearing elsewhere in this report. The analysis set forth below is provided pursuant to applicable Securities and Exchange Commission regulations and is not intended to serve as a basis for projections of future events.

We are a development stage enterprise and are incorporated in the State of Delaware in July 2016. As of the date of inception to the date of this quarterly report, we did not generate any revenue and incurred expenses and operating losses, as part of our development stage activities. We have experienced a net loss of $548,520 for the nine months ended September 30, 2019, net cash used in operating activities of $955,775, and have recorded an accumulated deficit of $1,137,706 at September 30, 2019.

We anticipate that we will need substantial working capital over the next 12 months to continue as a going concern and to expand our operations to distribute, sell and market products and solutions. Our independent auditors have expressed substantial doubt as to the ability of the Company to continue as a going concern. Unless we are able to generate sufficient cash flows from operations and/or obtain additional financing, there is a substantial doubt as to the ability of the Company to continue as a going concern. We intend to make an equity offering of our common stock for the acquisition and operation expenses. If we cannot raise the required cash, we will issue additional shares of our common stock in lieu of cash.

Our Current Business

Monetiva’s primary objective is to offer prepaid card and money remittance services to under-banked, underserved markets and foreign workers. We are supported by an experienced management team with extensive background and qualifications in our core business, including prepaid card issuance, program management, third party processing technology and banking regulatory and compliance. We are a startup Company in the developmental phase of the business cycle. We are building out a card and technology platform and remittance network and are currently engaged with business partners in the United States and globally.

We intend to utilize Endless One Global (“E1G”) prepaid card services to provide prepaid cards to under-banked consumers, primarily targeting foreign workers. The primary services to be offered are centered on the issuance of MasterCard credit and debit cards to qualified consumers in the US. Business rollout is intended to be implemented in phases. Phase I of development includes targeting and establishing relationships with partner companies in both U.S., Mexico and India. Business relationships shall be secured to implement domestically issued prepaid cards and financial services in each of those markets. Our aim by this development phase is to enable a low cost, efficient solution to both the US accountholders and their respective family and friends in partner countries. Our accounts are designed to enable foreign workers to have their payroll deposited directly onto the Mastercard issued by us. Card recipients will then be able to pay bills, send money abroad and utilize the Mastercard to access Automated Teller Machines (“ATMs”) and make purchases at retail merchants. Services will also be provided to enable card loading of funds through retail merchant locations. We also intend to implement value added programs such as loyalty discounts that shall be provided as part of the card benefits.

After successful rollout of Phase I development programs, we have expanded our programs to additional countries and territories as part of our Phase II development plan. We shall provide the same services to these new territories. Phase II territories include Europe, Philippines, United Arab Emirates, Pakistan and China. 

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Our Strategy

To successfully grow and expand our business, we intend to deploy the following primary marketing strategies:

● Target those foreign market Immigrants in the US by metro area;

● Establish Ambassadors in high density metro areas – Sales & Marketing Representatives;

● Setup Internet Infrastructure to enable family\friend Issuance in each market, utilizing digital marketing to drive traffic to the Company’s domain;

● Utilize retail distribution partners;

● Utilize accountholder incentives to create a viral referral base to bring in new accountholders; and

● Add new products and services to existing accountholders to generate increased usage per accountholder;

Once we have deployed these primary strategies in the US, cross marketing to the other countries will be implemented using the same strategy (e.g. United States of America to Philippines and Canada to Mexico).

Metro Area Marketing

We have identified several primary metropolitan areas and sub-market areas to focus its US-based marketing into the foreign worker concentrated markets. These areas include Los Angeles, San Francisco, San Diego, Houston, Dallas, New York, Chicago, Washington DC, Atlanta, Miami and the surrounding area sub-markets. We intend to secure representatives in each of these markets to setup distribution points with foreign market centric services including organizations related to religion, healthcare, community, and employment. The representatives will include direct employees and bank approved independent agents. Deeper expansion into other metropolitan markets will be evaluated and prioritized once we have met our initial primary business objectives.

Internet Access and Marketing

Our website will be developed to easily enable accountholder registration in the US and provide access to registration in each of the home markets through our issuing partners. This will allow effective communications to the consumers in each market while utilizing the Know Your Customer (“KYC”) verification and compliance process that has already been established through the existing systems.

Social Media and Digital Marketing will be used to target consumers. We also intend to affiliate with websites and brands that focus on the same consumer markets.

Retail Distribution Partners

We are in discussions with several retail chains to offer the Monetiva Card through their retail distribution network. The cards will be available for immediate activation and loading from the local stores. Once KYC is provided and verified the cards will be converted from non-reloadable to reloadable and available for personalization if requested. Inventory control will be established with each retail partner.

Accountholder Incentives

The foreign worker communities generally provide a cohesive network that enables incentive programs for one account holder to refer friends or family. We intend to provide the referring account holder with valued incentives to bring others into the Monetiva program.

Value-added Services

We have developed a suite of value-added services to increase the value of the service offering to accountholders including retail discounts, healthcare discounts, usage points, long distance telephone, bill-paying, etc. These services are intended to drive more transaction activity and new accountholder traffic.

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Global Remittance Market

We are focused on select remittance corridors to enable Monetiva to specialize in the scope, value and quality of services. According to the economists at the World Bank (https://www.pewresearch.org/global/interactives/remittance-flows-by-country/) the volume of remittances from the US to the target markets in 2018 was:

Receiving Country	USD (in billions)
Mexico	$	34.0
India	$	80.0
China	$	67.0
Philippines	$	34.0

Results of Operations

Our results of operations for the three months and nine months ended September 30, 2019 and 2018 included the operations of the Company. We reported a net loss of $242,435 and $548,520 for the three months and nine months ended September 30, 2019 applicable to the Company’s common stockholders, as compared to the net loss of $132,740 and $374,956 for the three months and nine months ended September 30, 2018. The increase in loss in 2019 resulted primarily due to the increase in officer’s compensation expense, travel and entertainment expense, rent, professional and consulting expenses, and other general and administrative expenses, offset by increase in rental income.

Liquidity and Capital Resources

Cash and cash equivalents were $530,616 at September 30, 2019 as compared to $10,039 at December 31, 2018. As shown in the accompanying financial statements, we recorded a net loss of $542,569 for the nine months ended September 30, 2019. Our accumulated deficit at September 30, 2019 was $1,137,706 and net cash used in operating activities for the nine months ended September 30, 2019 was $955,775. These factors and our ability to raise additional capital to accomplish our objectives, raises substantial doubt about our ability to continue as a going concern. We expect our expenses will continue to increase during the foreseeable future as a result of increased operational expenses and the development of our current business operations. We anticipate generating only minimal revenues over the next twelve months. Consequently, we are dependent on the proceeds from future debt or equity investments to sustain our operations and implement our business plan. If we are unable to raise sufficient capital, we will be required to delay or forego some portion of our business plan, which would have a material adverse effect on our anticipated results from operations and financial condition. There is no assurance that we will be able to obtain necessary amounts of capital or that our estimates of our capital requirements will prove to be accurate.

From February 2, 2018 through November 30, 2019, we were engaged in private exempt offerings in reliance on Regulation D, Rule 506, whereby we raised a total amount of $2,262,252, which was immediately made available to us to cover our operating expenses, salaries and other development costs. We presently do not have any significant credit available, bank financing or other external sources of liquidity. Due to our operating losses, our operations have not been a source of liquidity. We will need to acquire other profitable entities or obtain additional capital in order to expand operations and become profitable. In order to obtain capital, we may need to sell additional shares of our common stock or borrow funds from private lenders. There can be no assurance that we will be successful in obtaining additional funding.

To the extent that we raise additional capital through the sale of equity or convertible debt securities, the issuance of such securities may result in dilution to existing stockholders. If additional funds are raised through the issuance of debt securities, these securities may have rights, preferences and privileges senior to holders of common stock and the terms of such debt could impose restrictions on our operations. Regardless of whether our cash assets prove to be inadequate to meet our operational needs, we may seek to compensate providers of services by issuance of stock in lieu of cash, which may also result in dilution to existing shareholders. Even if we are able to raise the funds required, it is possible that we could incur unexpected costs and expenses, fail to collect significant amounts owed to us, or experience unexpected cash requirements that would force us to seek alternative financing.

15

No assurance can be given that sources of financing will be available to us and/or that demand for our equity/debt instruments will be sufficient to meet our capital needs, or that financing will be available on terms favorable to us. If funding is insufficient at any time in the future, we may not be able to take advantage of business opportunities or respond to competitive pressures or may be required to reduce the scope of our planned service development and marketing efforts, any of which could have a negative impact on our business and operating results. In addition, insufficient funding may have a material adverse effect on our financial condition, which could require us to:

● Curtail our operations significantly, or

● Seek arrangements with strategic partners or other parties that may require us to relinquish significant rights to technology platform and correlated services, or

● Explore other strategic alternatives including a merger or sale of our Company.

Operating Activities

Net cash used in operating activities for the nine months ended September 30, 2019 was $955,775 which resulted primarily from our net loss of $548,520, common stock issued for services valued at $1,200, and net change in operating assets and liabilities of $408,455, attributable to increase in prepaid expenses of $497,300 due to prepaid deposits towards BIN, increase in rent deposits of $15,000 for renting additional premises, increase in other current asset of $11,572 for rent receivable, decrease in accrued liabilities of $36,853, increase in accrued payroll of officer of $158,650, and decrease in deferred rent of $6,380. Net cash used in operating activities for the nine months ended September 30, 2018 was $600,492 which resulted primarily from our net loss of $374,956, and net change in operating assets and liabilities of $225,536, attributable to increase in prepaid expenses of $256,280 due to prepaid deposits towards BIN, increase in rent deposits of $25,136, increase in accrued liabilities of $39,587, increase in accrued payroll of officer of $7,060, and increase in deferred rent of $9,233.

Financing Activities

Net cash provided by financing activities for the nine months ended September 30, 2019 was $1,476,352 primarily due to cash proceeds of $1,171,752 for stock subscriptions received in advance, cash proceeds of $200,000 received from sale of common stock, cash proceeds of $160,000 received from common stock subscriptions receivable, cash payment of $55,000 paid for short term loans, and cash payment of $400 paid to the Officer. Net cash provided by financing activities for the nine months ended September 30, 2018 was $665,900 primarily due to cash proceeds of $665,500 for stock subscriptions received in advance, and cash proceeds of $400 received from the Officer for working capital needs.

As a result of the above activities, we experienced a net increase in cash of $520,577 for the nine months ended September 30, 2019. Our ability to continue as a going concern is still dependent on our success in obtaining additional financing from investors or from sale of our common shares.

Critical Accounting Policies and Significant Judgments and Estimates

Our management’s discussion and analysis of our financial condition and results of operations is based on our financial statements which we have prepared in accordance with U.S. generally accepted accounting principles. In preparing our financial statements, we are required to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. We have identified the following accounting policies that we believe require application of management’s most subjective judgments, often requiring the need to make estimates about the effect of matters that are inherently uncertain and may change in subsequent periods. Our actual results could differ from these estimates and such differences could be material.

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While our significant accounting policies are described in more details in Note 2 of our annual financial statements included in our 2018 Annual Report filed with the SEC on November 15, 2019, we believe the following accounting policies to be critical to the judgments and estimates used in the preparation of our financial statements.

JOBS Act Accounting Election

We are an “emerging growth company,” as defined in the JOBS Act. Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. We have irrevocably elected not to avail ourselves of this exemption from new or revised accounting standards, and, therefore, will be subject to the same new or revised accounting standards as other public companies that are not emerging growth companies.

Fair value of Financial Instruments and Fair Value Measurements

ASC 820, “Fair Value Measurements and Disclosures”, requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement.

Development Stage and Capital Resources

The Company has devoted substantially all of its efforts to business planning since its inception on July 22, 2016. Accordingly, the Company is considered to be in the development stage. The Company has not generated revenues from its operations, and it will not commence generating revenues until sometime during the second quarter of 2020.

Off-Balance Sheet Arrangements

We have not engaged in any off-balance sheet arrangements as defined in Item 303(c) of the SEC’s Regulation S-B. We did not have any relationships with unconsolidated organizations or financial partnerships, such as structured finance or special-purpose entities that would have been established for the purpose of facilitating off-balance sheet arrangements or other contractually narrow or limited purposes.

Recent Accounting Pronouncements

We have implemented all new accounting pronouncements that are in effect and that may impact our financial statements and do not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on our financial position or results of operations which have not been adopted.

Item 3. Quantitative and Qualitative Disclosures About Market Risks.

Not Applicable.

Item 4. Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

As of the end of the period covered by this report, we carried out an evaluation, under the supervision and with the participation of our management, including our Principal Executive Officer and Principal Financial Officer, of the effectiveness of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934. The Company has only one officer and one director, and as such is solely responsible for evaluating the Company’s disclosure controls and procedures. Based upon that evaluation, the Principal Executive Officer believes that the Company’s disclosure controls and procedures are not effective as of September 30, 2019 due to the following material weaknesses. We lacked the ability to have adequate segregation of duties in the financial statement preparation process. Further the Company did not maintain adequate documentation for review and supporting matters impacting financial reporting in gathering, analyzing and disclosing information needed to ensure that the information required to be disclosed by the Company in its periodic reports is recorded, summarized and processed timely. The principal executive officer is directly involved in the day-to-day operations of the Company.

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Plan for Remediation of Material Weaknesses

Since these entity level controls have a pervasive effect across the organization, management has determined that these circumstances constitute a material weakness. We believe that, since the date that we were made aware of our material weakness, we are continuing to improve our internal control over financial reporting by taking certain corrective steps that we believe minimize the likelihood of a recurrence. We have designed a disclosure controls and procedures regime pursuant to which our management has, among other things:

(a) identified the definition, objectives, application and scope of our internal control over financial reporting;

(b) delineated the duties of each member of the group responsible for maintaining the adequacy of our internal control over financial reporting. This group consists of:

(i) our Chief Executive Officer; and

(ii) an independent consultant who was engaged to prepare and assure compliance with both our internal control over financial reporting as well as our disclosure controls and procedures and review our disclosure controls and procedures on a regular basis, subject to our management’s supervision.

We continue to work with our structure in which we have an independent consultant, in order to continue implementation of required key controls, the necessary steps required for procedures to ensure the appropriate communication and review of inputs necessary for the financial statement closing process, as well as for the appropriate presentation of disclosures within the financial statements. The remediation steps taken are subject to the Chief Executive Officer’s oversight. While management believes there have been significant improvements of internal controls over financial reporting during the quarter ended September 30, 2019, management anticipates that further continuing efforts will be needed to effectively remediate the material deficiencies relating to segregation of duties and maintaining adequate supporting documentation to substantiate the information reported in the financial statements which existed as of September 30, 2019, and to assure that complex transactions are properly recorded as the business continues to grow. Our management has been actively engaged in planning for, designing and implementing the corrective steps described above to enhance the effectiveness of our disclosure controls and procedures as well as our internal control over financial reporting. Our management is committed to achieving and maintaining a strong control environment, high ethical standards, and financial reporting integrity, and will take further steps to ensure that personnel are adequate in terms of sophistication and quantity to adequately assure that the financial reporting process is efficient and operated with the sufficient level of integrity to meet and surpass all regulatory standards.

While management is implementing corrective steps to remediate its internal control deficiencies, we cannot assure you that they will be sufficient enough to be free of a material weakness. If we should in the future conclude that our internal control over financial reporting suffers from a material weakness, we will be required to expend additional resources to improve it. Any additional instances of material deficiencies could require a restatement of our financial statements. If such restatements are required, there could be a material adverse effect on our investors’ confidence that our financial statements fairly present our financial condition and results of operations, which in turn could materially and adversely affect the market price of our common stock.

Changes in Internal Control over Financial Reporting

Other than the remediation activities undertaken by us as disclosed above, there have been no changes in our internal control over financial reporting during the quarter ended September 30, 2019 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

18

PART II.

Item 1. Legal Proceedings.

We are not a party to any legal proceedings.

Item 1A. Risk Factors.

Not Applicable

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

None.

Item 3. Defaults Upon Senior Securities.

None

Item 4. Mine Safety Disclosures.

None

Item 5. Other Information.

On August 22, 2019, the Company became aware of an Securities and Exchange Commission Order Instituting Administrative Proceedings and Notice of Hearing alleging that the Company is delinquent in certain of its periodic filings with the Commission and indicating that administrative proceedings are intended to be held (i) to determine all delinquent filings and any defenses of the Company for any such delinquent filings, and (ii) to make a decision as whether it may be appropriate to take any action to suspend or revoke the Company’s registration of its securities. The date of the Commission Order is August 14, 2019. The Company is actively working to resolve any delinquent filings as quickly as possible and intends to demonstrate to the Commission its diligence in that regard and filed an answer in response to the assertions made by the Commission.

On September 18, 2019, the Division of Enforcement of the Securities and Exchange Commission filed with the Office of the Secretary a Motion for Ruling on the Pleadings Against the Company seeking an order to revoke each class of securities of the Company registered with the Commission pursuant to Section 12(j) of the Securities Exchange Act of 1934.  At this time, the Company is diligently working to eliminate its filing delinquencies, and intends to become current on its filings on or before December 31, 2019.

Item 6. Exhibits.

(a) Exhibits.

Exhibit	Item
31.1	Certification of Chief Executive Officer pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002
31.2	Certification of Chief Financial Officer pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002
32.1	Certification of Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	XBRL Taxonomy Extension Label Linkbase Document
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document

19

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.

	Monetiva Inc.
Date: January 3, 2020	/s/ Pierre Sawaya
	Pierre Sawaya, President (Principal Executive Officer and Principal Accounting Officer)

20

EXHIBIT INDEX

Exhibit	Item
31.1	Certification of Chief Executive Officer pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002
31.2	Certification of Chief Financial Officer pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002
32.1	Certification of Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	XBRL Taxonomy Extension Label Linkbase Document
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document

21

EX-31.1

Exhibit 31.1

CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER AND PRINCIPAL FINANCIAL OFFICER

PURSUANT TO RULE 13a-14(a) AND 15d-14(a) OF THE SECURITIES EXCHANGE ACT OF,

AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Pierre Sawaya, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Monetiva 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 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(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)) 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(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.

/s/ Pierre Sawaya

Pierre Sawaya

President (Principal Executive Officer)

January 3, 2020

EX-31.2

Exhibit 31.2

CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER AND PRINCIPAL FINANCIAL OFFICER

PURSUANT TO RULE 13a-14(a) AND 15d-14(a) OF THE SECURITIES EXCHANGE ACT OF,

AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Pierre Sawaya, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Monetiva 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 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(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)) 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(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.

/s/ Pierre Sawaya

Pierre Sawaya

Chief Financial Officer (Principal Financial Officer)

January 3, 2020

EX-32.1

Exhibit 32.1

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 Monetiva Inc. (the “Registrant”) on Form 10-Q for the three months ended September 30, 2019 as filed with the Securities and Exchange Commission on the date hereof, I, Peter Sawaya, Chief Executive Officer of the Registrant, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1. The Quarterly Report on Form 10-Q fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended, and

2. The information contained in such Quarterly Report on Form 10-Q fairly presents, in all material respects, the financial condition and results of operations of Monetiva Inc.

Date: January 3, 2020	/s/ Pierre Sawaya
	Pierre Sawaya
	Chief Executive Officer and Chief Financial Officer
	Monetiva Inc.

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to Monetiva Inc. and will be retained by Monetiva Inc. and furnished to the Securities and Exchange Commission or its staff upon request.

XML

Accrued Liabilities

9 Months Ended

Sep. 30, 2019

Payables and Accruals [Abstract]

ACCRUED LIABILITIES

NOTE 4 – ACCRUED LIABILITIES

The Company had accrued liabilities primarily consisting of consulting and professional fees, payroll, franchise taxes and accrued payroll taxes totaling $100,756 and $137,609 as of September 30, 2019 and December 31, 2018, respectively.

XML

Commitments and Contingencies

9 Months Ended

Sep. 30, 2019

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 8 – COMMITMENTS AND CONTINGENCIES

Operating Leases

See future minimum lease payments in NOTE 7.

Employment Agreement with Officer

On November 1, 2017, the Company entered into an employment agreement with its Officer for a one-year term, which shall be automatically renewed for successive one-year periods unless either party gives ninety (90) calendar days written notice of nonrenewal prior to the expiration of the then-current term. The Company granted 12,000,000 shares of its common stock to the Officer as a sign-on bonus valued at $1,200, and agreed to pay an annual base salary of $180,000 provided that the Officer's base salary may be reduced to the extent that Officer elects to defer any portion thereof under the terms of any deferred compensation or savings plan maintained by the Company. In addition to the eligibility for consideration of merit-based increases in the discretion of the Board of Directors, Officer's base salary will be increased effective January 1, of each year during the term commencing January 1, 2018 by ten percent (10%)  (See NOTE 5).

Service Agreement

On January 15, 2018, the Company entered into an agreement with E1G whereby, E1G will provide data processing, transaction processing and related services for the prepaid debit accounts created for the customers of the Company, for a period of five years. The agreement required a one-time upfront fee of $250,000 for each of the three (3) countries - USA, Mexico and India, for a total fee of $750,000 to initiate the process to establish three (3) Business Identification Numbers ("BINs"). Thereafter, the term will automatically be renewed for one (1) year period unless terminated by either party upon providing a written notice. The Company is expanding its footprint to additional countries and territories as part of its development plan to provide the same services. These territories will include European nations, Philippines, United Arab Emirates and China. The Company will pay E1G the processing fees as forth in the Agreement, any special fees, new products and technologies introduced by E1G (See NOTE 3).

Legal Costs and Contingencies

In the normal course of business, the Company incurs costs to hire and retain external legal counsel to advise it on regulatory, litigation and other matters. The Company expenses these costs as the related services are received.

If a loss is considered probable and the amount can be reasonable estimated, the Company recognizes an expense for the estimated loss. If the Company has the potential to recover a portion of the estimated loss from a third party, the Company makes a separate assessment of recoverability and reduces the estimated loss if recovery is also deemed probable. The Company was not aware of any loss contingencies as of September 30, 2019 and December 31, 2018, respectively.

XML

Leases (Tables)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Schedule of leases

	September 30, 2019
Supplemental data
Weighted average remaining lease term		.17 years
Weighted average discount rate		9.00	%
Cash paid for amounts included in lease liabilities	$	112,379

Schedule of maturities of lease

	September 30, 2019
Year ending December 31,
2019 (remaining)	$	25,136
Total minimum lease payments		25,136
Less: imputed interest		(414	)
Present value of future minimum lease payments	$	24,722

Schedule of future minimum lease commitments

For the years ending December 31,	Amount
2019	$	25,136
Total	$	25,136

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Nature of Operations, Basis of Presentation and Going Concern

9 Months Ended

Sep. 30, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

NATURE OF OPERATIONS, BASIS OF PRESENTATION AND GOING CONCERN

NOTE 1 – NATURE OF OPERATIONS, BASIS OF PRESENTATION AND GOING CONCERN

Monetiva Inc. (formerly known as American Standard Wallet, Inc. and Lark Street Acquisition Corporation, or "Monetiva" or the "Company"), a Delaware corporation, was incorporated on July 22, 2016 under the laws of the state of Delaware to engage in any lawful corporate undertaking, including, but not limited to, selected mergers and acquisitions. The Company has been in the developmental stage since inception and its operations to date have been limited to issuing shares to its original shareholders.

As of January 3, 2020, the Company has a total of 26,611,264 shares of common stock of the Company issued and outstanding. Of all shares issued and outstanding, a total of 20,000,000 common shares have been issued to the Company's Board of Director and Founder of the Company, representing approximately 75.16% of the total shares issued and outstanding as of the date of this Report.

Basis of Presentation

The accompanying interim condensed financial statements are unaudited, but in the opinion of management of the Company, contain all adjustments, which include normal recurring adjustments necessary to present fairly the financial position at September 30, 2019, and the results of operations and cash flows for the three months and nine months ended September 30, 2019. The balance sheet as of December 31, 2018 is derived from the Company's audited financial statements.

Certain information and footnote disclosures normally included in financial statements that have been prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission, although management of the Company believes that the disclosures contained in these interim condensed financial statements are adequate to make the information presented therein not misleading. For further information, refer to the financial statements and the notes thereto contained in the Company's 2018 Annual Report filed with the Securities and Exchange Commission on Form 10-K on November 15, 2019.

Effective January 1, 2019, the Company adopted the requirements of Accounting Standards Update ("ASU") ASU, No. 2016-02, Leases, as discussed in NOTE 2 and NOTE 7.

Going Concern

The Company's 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 the satisfaction of liabilities in the normal course of business. The Company has not yet generated any revenue and has suffered operating losses since July 22, 2016 (Inception Date) to date and allow it to continue as a going concern. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary financing to continue operations, and the attainment of profitable operations. The Company incurred a net loss of $548,520 for the nine months ended September 30, 2019, used net cash in operating activities of $955,775, and has an accumulated deficit of $1,137,706 as of September 30, 2019. These factors, among others raise a substantial doubt regarding the Company's ability to continue as a going concern. If the Company is unable to obtain adequate capital, it could be forced to cease operations. The accompanying financial statements do not include any adjustments to reflect the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

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Condensed Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, authorized	20,000,000	20,000,000
Preferred stock, issued
Preferred stock,outstanding
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized	100,000,000	100,000,000
Common stock, issued	22,866,000	8,000,000
Common stock, outstanding		8,000,000

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Accrued Liabilities (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Accrued Liabilities (Textual)
Accrued professional fees, payroll, franchise taxes	$ 100,756	$ 137,609

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Leases (Details 1)	Sep. 30, 2019 USD ($)
Leases [Abstract]
2019 (remaining)	$ 25,136
Total minimum lease payments	25,136
Less: imputed interest	(414)
Total lease liabilities	$ 24,722

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Related Party Transactions (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Related Party Transactions (Textual)
Common stock to president, officer and director			$ 1,200
Issuance of common stock value	$ 200,000		60,000
Accrued payroll			158,650	$ 7,060
Officer [Member]
Related Party Transactions (Textual)
Payable of accrued payroll to Cheif Executive Officer	236,910		236,910		$ 78,260
Accrued payroll	54,450	$ 49,500	163,350	148,500
Addition to receivable against payroll compensation	$ 0	$ 0	$ 3,500	$ 0

XML

Leases (Details 2)	Sep. 30, 2019 USD ($)
For the years ending December 31,
2019	$ 25,136
Total	$ 25,136

XML

Nature of Operations, Basis of Presentation and Going Concern (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2019	Dec. 31, 2018
Nature of Operations, Basis of Presentation and Going Concern (Textual)
Accumulated deficit	$ (1,137,706)		$ (1,137,706)			$ (589,186)
Net loss	$ (242,435)	$ (132,740)	(548,520)	$ (374,956)
Net cash used in operating activities			$ (955,775)	(600,492)
Common stock, shares issued	22,866,000		22,866,000			8,000,000
Common stock, shares outstanding						8,000,000
Common Stock [Member]
Nature of Operations, Basis of Presentation and Going Concern (Textual)
Common stock issued			12,000,000
Net loss
Common stock, shares outstanding	22,866,000	8,000,000	22,866,000	8,000,000
Scenario, Forecast [Member] | Common Stock [Member]
Nature of Operations, Basis of Presentation and Going Concern (Textual)
Common stock, shares issued					26,611,264
Common stock, shares outstanding					26,611,264
Director [Member] | Scenario, Forecast [Member]
Nature of Operations, Basis of Presentation and Going Concern (Textual)
Common stock, shares issued					20,000,000
Common stock, shares outstanding					20,000,000
Percentage of issued and outstanding					75.16%

XML

Related Party Transactions

9 Months Ended

Sep. 30, 2019

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

NOTE 5 – RELATED PARTY TRANSACTIONS

Accrued Payroll – Officer

The Company has recorded accrued payroll liability to its Chief Executive officer ("Officer") of $236,910 and $78,260 as of September 30, 2019 and December 31, 2018, respectively. During the three months and nine months ended September 30, 2019, the Officer received $0 and $3,500 of compensation as compared to $0 for the same comparable periods in 2018. The Company has recorded $54,450 and $163,350 as payroll expense of the Officer for the three months and nine months ended September 30, 2019, compared to $49,500 and $148,500 for the three months and nine months ended September 30, 2018, respectively (See NOTE 8). 

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Stockholders' Equity

9 Months Ended

Sep. 30, 2019

Equity [Abstract]

STOCKHOLDERS' EQUITY

NOTE 9 – STOCKHOLDERS' EQUITY

The Company's capitalization at September 30, 2019 was 100,000,000 authorized common shares with a par value of $0.0001 per share, and 20,000,000 authorized preferred shares with a par value of $0.0001 per share. 

Common Stock

On January 14, 2019, the Company issued 12,000,000 shares of its common stock to its Officer as a sign-on bonus.

On January 14, 2019, the Company issued 1,616,000 shares of its common stock to investors and business promotors who had subscribed for the Company's common stock during the year ended December 31, 2018.

On January 14, 2019, the Company issued 1,000,000 shares of its common stock to an investor who had subscribed for the Company's common stock on September 24, 2018 for the purchase price of $0.50 per share. The Company has received from the subscriber $300,000 and $140,000 in cash consideration as of September 30, 2019 and December 31, 2018, respectively. As a result, the Company has recorded $200,000 and $0 as subscriptions receivable as of September 30, 2019 and December 31, 2018, respectively.

On February 25, 2019, the Company issued 50,000 shares of its common stock to two investors who had subscribed for the Company's common stock in November 2018.

On June 18, 2019, an investor executed a stock subscription agreement to purchase 200,000 shares of common stock of the Company at $1.00 per share. The subscriber had paid $200,000 to the Company on July 16, 2019 for the purchase of the common stock. The Company issued 200,000 shares of common stock to the investor on July 24, 2019.

Stock Subscriptions Received in Advance

On February 27, 2019, an investor executed a stock subscription agreement to purchase 5,264 shares of common stock of the Company at $1.90 per share. The investor paid $10,002 to the Company on February 27, 2019. The Company has recorded $10,002 as subscriptions received in advance as of September 30, 2019. On October 10, 2019, the Company issued to the investor 5,264 shares of common stock for the stock subscriptions. 

On March 14, 2019, a former stockholder executed a stock subscription agreement to purchase 3,155,000 shares of common stock for $0.25 per share. The Company received a cash consideration of $788,750 from the shareholder and has recorded $788,750 as subscriptions received in advance as of September 30, 2019. On October 10, 2019, the Company issued 2,030,000 shares of common stock to the stockholder and the remaining 1,125,000 shares of common stock were distributed between the seventeen (17) family members pursuant to the stockholder's instructions. 

On March 20, 2019, an investor executed a stock subscription agreement to purchase 50,000 shares of common stock of the Company at $2.00 per share. On March 27, 2019, the subscriber paid $100,000 to the Company for the stock subscriptions. The Company has recorded $100,000 as subscriptions received in advance as of September 30, 2019. On October 10, 2019, the Company issued to the investor 50,000 shares of common stock for the stock subscriptions. 

On April 3, 2019, an investor executed a stock subscription agreement to purchase 8,000 shares of common stock of the Company at $2.00 per share. The investor paid $16,000 to the Company on April 3, 2019 and the Company has recorded $16,000 as stock subscriptions received in advance as of September 30, 2019. The Company has issued the 8,000 shares of common stock to the investor on October 10, 2019. 

On April 9, 2019, an investor advanced the Company $4,000 towards the purchase of 16,000 shares of common stock. The Company has recorded $4,000 as stock subscriptions received in advance as of June 30, 2019. On October 10, 2019, the Company issued to the stockholder 16,000 shares of common stock for these stock subscriptions.

On May 16, 2019, an investor executed a stock subscription agreement to purchase 200,000 shares of common stock of the Company at $0.50 per share. The Company received cash consideration of $100,000 from the investor on May 16, 2019. The Company has recorded $100,000 as stock subscriptions received in advance as of September 30, 2019. The Company has issued the 200,000 shares of common stock to the investor on October 10, 2019.

On June 14, 2019, an investor executed a stock subscription agreement to purchase 5,000 shares of common stock of the Company at $2.00 per share. The Company received the cash consideration of $10,000 from an investor on July 10, 2019. The Company has recorded $10,000 as stock subscriptions received in advance as of September 30, 2019. On October 10, 2019, the Company issued to the investor 5,000 shares of its common stock for stock subscriptions.

On June 17, 2019, an investor executed a stock subscription agreement to purchase 240,000 shares of common stock of the Company at $0.25 per share. The subscriber had paid $60,000 to the Company on July 16, 2019 for the purchase of the common stock. The Company has recorded $60,000 as stock subscriptions received in advance as of September 30, 2019. The Company issued 240,000 shares of common stock to the investor on October 10, 2019.

On August 14, 2019, an investor executed a stock subscription agreement to purchase 8,000 shares of the Company's common stock for $2.00 per share. The Company received a cash consideration of $16,000 from the investor on August 16, 2019. The Company has recorded $16,000 as stock subscriptions received in advance as of September 30, 2019 for the purchase of the common stock. On October 10, 2019, the Company issued to the investor 8,000 shares of its common stock for stock subscriptions.

On September 17, 2019, two investors executed two separate subscription agreements to purchase 17,500 shares of the Company's common stock at $2.00 per share. The Company received cash consideration of $35,000 from the investors on September 27, 2019. The Company has recorded $35,000 as stock subscriptions received in advance as of September 30, 2019. On October 23, 2019, the Company issued to the investors 17,500 shares of its common stock for stock subscriptions.

On September 19, 2019, an investor executed a stock subscription agreement to purchase 28,000 shares of the Company's common stock at $0.25 per share. The Company received $7,000 for the stock subscriptions from the investor and recorded it as stock subscriptions received in advance as of September 30, 2019. On October 10, 2019, the Company issued to the investor 28,000 shares of common stock for these stock subscriptions.

On September 25, 2019, an investor executed a stock subscription agreement to purchase 12,500 shares of the Company's common stock at $2.00 per share. The Company received cash consideration of $25,000 from the investor on September 27, 2019. The Company recorded $25,000 as stock subscriptions received in advance as of September 30, 2019. On October 23, 2019, the Company issued to the investors 12,500 shares of its common stock for stock subscriptions.

As a result of all common stock issuances, the total issued and outstanding shares of common stock were 22,866,000 shares and 8,000,000 shares at September 30, 2019 and December 31, 2018, respectively. In addition, the Company recorded $1,171,752 and $690,500 as stock subscriptions received in advance as of September 30, 2019 and December 31, 2018, respectively.

Preferred stock

No preferred stock was issued and outstanding as of September 30, 2019 and December 31, 2018, respectively.

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Condensed Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (548,520)	$ (374,956)
Adjustment to reconcile net loss to net cash used in operating activities:
Common stock issued for services	1,200
Changes in Operating Assets and Liabilities:
(Increase) in prepaid expense	(497,300)	(256,280)
(Increase) in other current assets	(11,572)
(Increase) in rent deposits	(15,000)	(25,136)
Increase (decrease) in accrued liabilities	(36,853)	39,587
Increase (decrease) in accrued payroll of officer	158,650	7,060
Increase (decrease) in deferred rent	(6,380)	9,233
Net Cash Used in Operating Activities	(955,775)	(600,492)
CASH FLOWS FROM FINANCING ACTIVITIES
Cash payments on loan payable	(55,000)
Cash proceeds from (payment to) officer for short term advances	(400)	400
Cash proceeds from stock subscriptions received in advance	1,171,752	665,500
Cash proceeds from sale of common stock	200,000
Cash proceeds from stock subscriptions receivable	160,000
Net Cash Provided By Financing Activities	1,476,352	665,900
Net Increase in Cash	520,577	65,408
Cash - Beginning of the Period	10,039
Cash - End of the Period	530,616	65,408
Supplemental Disclosures of Cash Flows
Cash paid for Interest		160
Cash paid for income taxes
Supplemental Disclosures of Non-Cash Investing and Financing Activities:
Common stock issued for stock subscriptions received in advance	690,500
Common stock issued for stock subscriptions receivable	360,000
Accrued compensation of officer		$ 105,800

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Condensed Balance Sheets - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Current Assets
Cash	$ 530,616	$ 10,039
Prepaid expenses	847,780	350,480
Rent deposits	40,136	25,136
Other current assets	11,572
Total Current Assets	1,430,104	385,655
Right of use asset	23,142
Total Assets	1,453,246	385,655
Current Liabilities
Accrued liabilities	100,756	137,609
Accrued payroll - officer	236,910	78,260
Deferred rent		7,960
Operating lease liability	24,722
Loan payable		55,000
Payable to officer		400
Total Current Liabilities	362,388	279,229
Total Liabilities	362,388	279,229
Commitments and Contingencies
Stockholders' Equity
Preferred stock, $0.0001 par value, 20,000,000 shares authorized; none issued and outstanding at September 30, 2019 and December 31, 2018, respectively
Common stock, $0.0001 par value, 100,000,000 shares authorized; 22,866,000 shares and 8,000,000 shares issued and outstanding at September 30, 2019 and December 31, 2018, respectively	2,287	800
Additional paid-in capital	1,254,525	4,312
Stock subscriptions received in advance	1,171,752	690,500
Stock subscriptions receivable	(200,000)
Accumulated deficit	(1,137,706)	(589,186)
Total Stockholders' Equity	1,090,858	106,426
Total Liabilities and Stockholders' Equity	$ 1,453,246	$ 385,655

XML

Prepaid Expenses (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Endless One Global, Inc. [Member] | Prepaid Debit Cards Commitment [Member]
Prepaid Expenses (Textual)
Prepaid expense	$ 824,780	$ 350,480

XML

Leases (Details)	9 Months Ended
	Sep. 30, 2019 USD ($)
Supplemental data
Weighted average remaining lease term	17 years
Weighted average discount rate	9.00%
Cash paid for amounts included in lease liabilities	$ 112,379

XML

Commitments and Contingencies (Details) - USD ($)		1 Months Ended	3 Months Ended	9 Months Ended
	Jan. 15, 2018	Nov. 01, 2017	Sep. 30, 2019	Sep. 30, 2019
Issuance of common stock value			$ 200,000	$ 60,000
Employment Agreement with Officer [Member]
Number of shares granted		12,000,000
Issuance of common stock value		$ 1,200
Annual base salary		$ 180,000
Employment agreement term		1 year
Percent of commencing		10.00%
Endless One Global, Inc. [Member]
Employment agreement term	5 years
One time upfront fee	$ 250,000
Endless One Global, Inc. [Member] | Prepaid Debit Cards Commitment [Member]
One time upfront fee	$ 750,000

XML

Leases

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

LEASES

NOTE 7 – LEASES

On February 9, 2018, the Company executed a non-cancellable operating lease for its principal office with the lease commencing March 1, 2018 for a period of 21 months maturing on November 30, 2019. The Company paid a security deposit of $25,136. The base rent of the lease was $12,202 for the first twelve months, increasing to $12,568 from the month thirteen to month twenty-one. The lease had a provision for rent abatement for only one month - April 2018. The Company has recorded rent expense of $35,333 and $105,999 for this non-cancellable lease for its principal office for the three months and nine months ended September 30, 2019 and $35,333 and $82,443 for the three months and nine months ended September 30, 2018, respectively.

The Company executed a month-to-month cancellable operating lease, leasing office space in an executive suite, commencing on January 1, 2019 for $169 per month. The Company recorded rent expense of $507 and $1,521 for the three months and nine months ended September 30, 2019.

On May 24, 2019, the Company executed a month-to-month rental agreement to lease furnished premises. The lease term commenced June 1, 2019 for a one-year term with a monthly rent of $11,500 per month from June 1, 2019 to May 31, 2020. The landlord required a security deposit of $15,000 on the commencement date of the lease, and an additional $10,000 security deposit on November 1, 2019. On May 30, 2019, the Company paid to the landlord security deposit of $15,000 and prepaid the rent of $69,000 for the six months ended November 30, 2019. The Company recorded the security deposit of $15,000 as rent deposit, and $34,500 and $46,000 as rent expense for the three months and nine months ended September 30, 2019 (See NOTE 10). 

The Company has recorded total rent expense of $70,340 and $153,520 for all its leases for the three months and nine months ended September 30, 2019 compared to $35,333 and $82,443 for the three months and nine months ended September 30, 2018, respectively. 

Additional information related to the Company's leases as of and for the nine months ended September 30, 2019, is as follows:

	September 30, 2019
Supplemental data
Weighted average remaining lease term		.17 years
Weighted average discount rate		9.00	%
Cash paid for amounts included in lease liabilities	$	112,379

Maturities of lease liabilities as of September 30, 2019 were as follows:

	September 30, 2019
Year ending December 31,
2019 (remaining)	$	25,136
Total minimum lease payments		25,136
Less: imputed interest		(414	)
Present value of future minimum lease payments	$	24,722

Fiscal year 2018 lease commitments in accordance with prior guidance

Future minimum lease commitments of the Company are as follows:

For the years ending December 31,	Amount
2019	$	25,136
Total	$	25,136

XML

Summary of Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2019

Accounting Policies [Abstract]

Use of Estimates

Use of Estimates

The preparation of financial statements in conformity with GAAP 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 reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the valuation of accounts payable, accrued liabilities and payable to related party. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company's estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.

Cash and Cash Equivalents

Cash and Cash Equivalents

The Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents. The Company had a cash balance of $530,616 and $10,039 as of September 30, 2019 and December 31, 2018, respectively.

Income Taxes

Income Taxes

The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, "Income Taxes". The asset and liability method provide that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax basis of assets and liabilities, and for operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. 

The Company follows the provisions of ASC 740-10, "Accounting for Uncertain Income Tax Positions." When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. In accordance with the guidance of ASC 740-10, the benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above should be reflected as a liability for unrecognized tax benefits in the accompanying condensed balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination.

Leases

 Leases

The Company has operating leases for its offices. Management determines if an arrangement is a lease at inception of the contract and whether a contract is or contains a lease by determining whether it conveys the right to control the use of the identified asset for a period of time. If the contract provides the Company the right to substantially all of the economic benefits from the use of the identified asset and the right to direct the use of the identified asset, the Company consider it to be, or contain, a lease. The Company records a right-of-use asset and a corresponding lease liability based on the present value of the minimum lease payments. The lease term used in the calculation of right-of-use assets and lease liabilities include renewal and termination options that are reasonably certain to be exercised. Leases with an initial term of twelve months or less are not recorded on the balance sheet and the related lease expense is recognized on a straight-line basis over the lease term. Our leases do not provide an implicit borrowing rate, and we estimate the Company's incremental borrowing rate to discount the lease payments based on information available at lease commencement.

Earnings (Loss) Per Common Share

Earnings (Loss) Per Common Share

The Company computes net earnings (loss) per share in accordance with ASC 260, "Earnings per Share". ASC 260 requires presentation of both basic and diluted net earnings per share ("EPS") on the face of the income statement. Basic EPS is computed by dividing earnings (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible note and preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. At September 30, 2019 and December 31, 2018, there were no convertible notes, options or warrants available for conversion that if exercised, may dilute future earnings per share.

Fair value of Financial Instruments and Fair Value Measurements

Fair value of Financial Instruments and Fair Value Measurements

ASC 820, "Fair Value Measurements and Disclosures", requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument's categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value:

Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability.

Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

The Company's financial instruments consist principally of cash, rent deposits and accrued liabilities. The Company believes that the recorded values of all the financial instruments approximate their current fair values because of their nature and respective maturity dates or durations.

Recent Accounting Pronouncements

Recent Accounting Pronouncements

New Accounting Pronouncements Effective January 1, 2019

Leases

In February 2016, the FASB issued Accounting Standards Update ("ASU") ASU 2016-02, Leases (Topic 842). The updated guidance requires lessees to recognize lease assets and lease liabilities for most operating leases. In addition, the updated guidance requires that lessors separate lease and non-lease components in a contract in accordance with the new revenue guidance in ASC 606. The updated guidance is effective for interim and annual periods beginning after December 15, 2018.

The Company adopted the new standard on January 1, 2019 using the modified retrospective approach. The Company has elected to apply the transition method that allows companies to continue applying the guidance under the lease standard in effect at that time in the comparative periods presented in the consolidated financial statements and recognize a cumulative-effect adjustment to the opening balance of retained earnings on the date of adoption. The Company also elected the "package of practical expedients", which permits us not to reassess under the new standard our prior conclusions about lease identification, lease classification and initial direct costs.

Results for reporting periods beginning after January 1, 2019 are presented under the new standard, while prior period amounts are not adjusted and continue to be reported under the accounting standards in effect for the prior period. Upon adoption of the new lease standard, on January 1, 2019, the Company capitalized right-of-use ("ROU") assets of $124,524 and $132,485 of lease liabilities, within the Company's condensed consolidated balance sheets upon adoption. Additionally, the Company reversed its deferred rent liability of $7,960, which upon adoption became a component of the right-of-use asset. The adoption of this standard did not have an impact on the Company's condensed consolidated statement of operations or cash flows and did not result in a cumulative catch-up adjustment to the opening balance of retained earnings.

Accounting Standards Issued but Not Yet Adopted

In June 2018, the Financial Accounting Standards Board ("FASB") issued ASU 2018-07, Compensation – Stock Compensation (Topic 718), Improvements to Nonemployee Share-Based Payment Accounting. This ASU is intended to simplify aspects of share-based compensation issued to non-employees by making the guidance consistent with accounting for employee share-based compensation. This guidance is effective for fiscal years beginning after December 15, 2019, including interim periods within that fiscal year. Early adoption is permitted. The Company is currently in the process of evaluating the impact of this guidance on its financial statements.

There were other updates recently issued accounting pronouncement. The Company's management does not believe that other than disclosed above, accounting pronouncements that recently issued but not yet adopted will have a material impact on its financial position, results of operations or cash flows.

XML

Stockholders' Equity (Details) - USD ($)																								1 Months Ended	3 Months Ended	9 Months Ended
	Oct. 23, 2019	Oct. 10, 2019	Sep. 27, 2019	Sep. 25, 2019	Sep. 19, 2019	Sep. 17, 2019	Aug. 16, 2019	Aug. 14, 2019	Jul. 24, 2019	Jul. 16, 2019	Jul. 16, 2019	Jul. 10, 2019	Jun. 18, 2019	Jun. 14, 2019	May 16, 2019	Apr. 09, 2019	Apr. 03, 2019	Mar. 27, 2019	Mar. 20, 2019	Mar. 14, 2019	Feb. 27, 2019	Feb. 25, 2019	Jan. 14, 2019	Jun. 18, 2019	Sep. 30, 2019	Sep. 30, 2019	Jun. 30, 2019	Jun. 17, 2019	Dec. 31, 2018
Stockholders' Equity (Textual)
Number of common stock issued, value																									$ 200,000	$ 60,000
Number of common stock issued																							12,000,000
Stock subscriptions received in advance																									$ 1,171,752	$ 1,171,752			$ 690,500
Common stock, shares authorized																									100,000,000	100,000,000			100,000,000
Common stock, par value (in dollars per share)																									$ 0.0001	$ 0.0001			$ 0.0001
Common stock, shares issued																									22,866,000	22,866,000			8,000,000
Common stock, shares outstanding																													8,000,000
Preferred stock, par value (in dollars per share)																									$ 0.0001	$ 0.0001			$ 0.0001
Preferred stock, shares authorized																									20,000,000	20,000,000			20,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Investor [Member]
Stockholders' Equity (Textual)
Number of common stock issued, value																							$ 140,000
Cash consideration																										$ 300,000
Stock subscriptions received in advance																													$ 140,000
Stock subscriptions receivable																									$ 200,000	200,000			0
Investor [Member] | Stock Subscription Agreement [Member]
Stockholders' Equity (Textual)
Number of common stock issued, value																					$ 10,002			$ 200,000
Number of common stock issued										200,000											5,264			200,000
Share price (in dollars per share)													$ 1.00								$ 1.90			$ 1.00
Stock subscriptions received in advance																									10,002	10,002
Investor [Member] | Stock Subscription Agreement [Member] | Subsequent Event [Member]
Stockholders' Equity (Textual)
Number of common stock issued		5,264
Investor [Member] | Stock Subscription Agreement [Member]
Stockholders' Equity (Textual)
Number of common stock issued																				3,155,000
Cash consideration																				$ 788,750
Share price (in dollars per share)																				$ 0.25
Stock subscriptions received in advance																									788,750	788,750
Investor [Member] | Stock Subscription Agreement [Member] | Subsequent Event [Member]
Stockholders' Equity (Textual)
Number of common stock issued		2,030,000
Seventeen Family Members Of Investor [Member] | Stock Subscription Agreement [Member] | Subsequent Event [Member]
Stockholders' Equity (Textual)
Number of common stock issued		1,125,000
Investor [Member] | Stock Subscription Agreement [Member]
Stockholders' Equity (Textual)
Number of common stock issued, value																		$ 100,000
Number of common stock issued																			50,000
Share price (in dollars per share)																			$ 2.00
Stock subscriptions received in advance																									100,000	100,000
Investor [Member] | Stock Subscription Agreement [Member] | Subsequent Event [Member]
Stockholders' Equity (Textual)
Number of common stock issued		50,000
Investor [Member] | Stock Subscription Agreement [Member]
Stockholders' Equity (Textual)
Stock subscriptions received in advance																									16,000	16,000	$ 4,000
Investor [Member] | Stock Subscription Agreement [Member]
Stockholders' Equity (Textual)
Stock subscriptions received in advance																									100,000	100,000
Investor [Member] | Stock Subscription Agreement [Member]
Stockholders' Equity (Textual)
Stock subscriptions received in advance																									10,000	10,000
Investor [Member] | Stock Subscription Agreement [Member]
Stockholders' Equity (Textual)
Stock subscriptions received in advance																									60,000	60,000
Investor [Member] | Stock Subscription Agreement [Member]
Stockholders' Equity (Textual)
Stock subscriptions received in advance																									16,000	16,000
Investor [Member] | Stock Subscription Agreement [Member]
Stockholders' Equity (Textual)
Stock subscriptions received in advance																									35,000	35,000
Investor [Member] | Stock Subscription Agreement [Member]
Stockholders' Equity (Textual)
Stock subscriptions received in advance																									7,000	7,000
Investor [Member] | Stock Subscription Agreement [Member]
Stockholders' Equity (Textual)
Stock subscriptions received in advance																									25,000	25,000
Two Investors [Member] | Stock Subscription Agreement [Member] | Subsequent Event [Member]
Stockholders' Equity (Textual)
Number of common stock issued		16,000
Investor [Member] | Stock Subscription Agreement [Member]
Stockholders' Equity (Textual)
Number of common stock issued, value																	$ 16,000
Number of common stock issued																16,000	8,000
Share price (in dollars per share)																	$ 2.00
Stock subscriptions received in advance																									16,000	16,000
Common stock, investor advanced																$ 4,000
Investor [Member] | Stock Subscription Agreement [Member] | Subsequent Event [Member]
Stockholders' Equity (Textual)
Number of common stock issued		8,000
Investor [Member] | Stock Subscription Agreement [Member]
Stockholders' Equity (Textual)
Number of common stock issued															200,000
Cash consideration															$ 100,000
Share price (in dollars per share)															$ 0.50
Investor [Member] | Stock Subscription Agreement [Member] | Subsequent Event [Member]
Stockholders' Equity (Textual)
Number of common stock issued		200,000
Investor [Member] | Stock Subscription Agreement [Member]
Stockholders' Equity (Textual)
Number of common stock issued														5,000
Cash consideration												$ 10,000
Share price (in dollars per share)														$ 2.00
Investor [Member] | Stock Subscription Agreement [Member] | Subsequent Event [Member]
Stockholders' Equity (Textual)
Number of common stock issued		5,000
Investor [Member] | Stock Subscription Agreement [Member]
Stockholders' Equity (Textual)
Number of common stock issued, value											$ 60,000
Share price (in dollars per share)																												$ 0.25
Investor [Member] | Stock Subscription Agreement [Member] | Subsequent Event [Member]
Stockholders' Equity (Textual)
Number of common stock issued		240,000
Investor [Member] | Stock Subscription Agreement [Member]
Stockholders' Equity (Textual)
Number of common stock issued, value											$ 200,000
Number of common stock issued									200,000				200,000
Share price (in dollars per share)													$ 1.00											$ 1.00
Investor [Member] | Stock Subscription Agreement [Member]
Stockholders' Equity (Textual)
Number of common stock issued								8,000
Cash consideration							$ 16,000
Share price (in dollars per share)								$ 2.00
Investor [Member] | Stock Subscription Agreement [Member] | Subsequent Event [Member]
Stockholders' Equity (Textual)
Number of common stock issued		8,000
Two Investor [Member] | Stock Subscription Agreement [Member]
Stockholders' Equity (Textual)
Number of common stock issued						17,500
Cash consideration			$ 35,000
Share price (in dollars per share)						$ 2.00
Two Investor [Member] | Stock Subscription Agreement [Member] | Subsequent Event [Member]
Stockholders' Equity (Textual)
Number of common stock issued	17,500
Investor [Member] | Stock Subscription Agreement [Member]
Stockholders' Equity (Textual)
Number of common stock issued					28,000
Share price (in dollars per share)					$ 0.25
Investor [Member] | Stock Subscription Agreement [Member] | Subsequent Event [Member]
Stockholders' Equity (Textual)
Number of common stock issued		28,000
Investor [Member] | Stock Subscription Agreement [Member]
Stockholders' Equity (Textual)
Number of common stock issued				12,500
Cash consideration			$ 25,000
Share price (in dollars per share)				$ 2.00
Investor [Member] | Stock Subscription Agreement [Member] | Subsequent Event [Member]
Stockholders' Equity (Textual)
Number of common stock issued	12,500
Investor [Member] | Stock Subscription Agreement [Member]
Stockholders' Equity (Textual)
Stock subscriptions received in advance																									$ 1,171,752	$ 1,171,752			$ 690,500
Investors And Business Promotors [Member]
Stockholders' Equity (Textual)
Number of common stock issued																							1,616,000
Two Investors [Member]
Stockholders' Equity (Textual)
Number of common stock issued																						50,000

XML

Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2019

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The following summary of significant accounting policies of the Company is presented to assist in the understanding of the Company's financial statements. The financial statements and notes are the representation of the Company's management who is responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America ("GAAP") in all material respects and have been consistently applied in preparing the accompanying financial statements.

Except for the accounting policies for leases that were updated, as set forth below, as a result of adopting ASU No. 2016-02, there have been no changes to the Company's significant accounting policies described in the Annual Report on Form 10-K for the year ended December 31, 2018 filed with the SEC on November 15, 2019, that have had a material impact on the Company's condensed consolidated financial statements and related notes.

Use of Estimates

The preparation of financial statements in conformity with GAAP 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 reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the valuation of accounts payable, accrued liabilities and payable to related party. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company's estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.

Cash and Cash Equivalents

The Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents. The Company had a cash balance of $530,616 and $10,039 as of September 30, 2019 and December 31, 2018, respectively.

Income Taxes

The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, "Income Taxes". The asset and liability method provide that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax basis of assets and liabilities, and for operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. 

The Company follows the provisions of ASC 740-10, "Accounting for Uncertain Income Tax Positions." When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. In accordance with the guidance of ASC 740-10, the benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above should be reflected as a liability for unrecognized tax benefits in the accompanying condensed balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination.

 Leases

The Company has operating leases for its offices. Management determines if an arrangement is a lease at inception of the contract and whether a contract is or contains a lease by determining whether it conveys the right to control the use of the identified asset for a period of time. If the contract provides the Company the right to substantially all of the economic benefits from the use of the identified asset and the right to direct the use of the identified asset, the Company consider it to be, or contain, a lease. The Company records a right-of-use asset and a corresponding lease liability based on the present value of the minimum lease payments. The lease term used in the calculation of right-of-use assets and lease liabilities include renewal and termination options that are reasonably certain to be exercised. Leases with an initial term of twelve months or less are not recorded on the balance sheet and the related lease expense is recognized on a straight-line basis over the lease term. Our leases do not provide an implicit borrowing rate, and we estimate the Company's incremental borrowing rate to discount the lease payments based on information available at lease commencement. 

Earnings (Loss) Per Common Share

The Company computes net earnings (loss) per share in accordance with ASC 260, "Earnings per Share". ASC 260 requires presentation of both basic and diluted net earnings per share ("EPS") on the face of the income statement. Basic EPS is computed by dividing earnings (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible note and preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. At September 30, 2019 and December 31, 2018, there were no convertible notes, options or warrants available for conversion that if exercised, may dilute future earnings per share.

Fair value of Financial Instruments and Fair Value Measurements

ASC 820, "Fair Value Measurements and Disclosures", requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument's categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value:

Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability.

Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

The Company's financial instruments consist principally of cash, rent deposits and accrued liabilities. The Company believes that the recorded values of all the financial instruments approximate their current fair values because of their nature and respective maturity dates or durations.

Recent Accounting Pronouncements

New Accounting Pronouncements Effective January 1, 2019

Leases

In February 2016, the FASB issued Accounting Standards Update ("ASU") ASU 2016-02, Leases (Topic 842). The updated guidance requires lessees to recognize lease assets and lease liabilities for most operating leases. In addition, the updated guidance requires that lessors separate lease and non-lease components in a contract in accordance with the new revenue guidance in ASC 606. The updated guidance is effective for interim and annual periods beginning after December 15, 2018.

The Company adopted the new standard on January 1, 2019 using the modified retrospective approach. The Company has elected to apply the transition method that allows companies to continue applying the guidance under the lease standard in effect at that time in the comparative periods presented in the consolidated financial statements and recognize a cumulative-effect adjustment to the opening balance of retained earnings on the date of adoption. The Company also elected the "package of practical expedients", which permits us not to reassess under the new standard our prior conclusions about lease identification, lease classification and initial direct costs.

Results for reporting periods beginning after January 1, 2019 are presented under the new standard, while prior period amounts are not adjusted and continue to be reported under the accounting standards in effect for the prior period. Upon adoption of the new lease standard, on January 1, 2019, the Company capitalized right-of-use ("ROU") assets of $124,524 and $132,485 of lease liabilities, within the Company's condensed consolidated balance sheets upon adoption. Additionally, the Company reversed its deferred rent liability of $7,960, which upon adoption became a component of the right-of-use asset. The adoption of this standard did not have an impact on the Company's condensed consolidated statement of operations or cash flows and did not result in a cumulative catch-up adjustment to the opening balance of retained earnings.

Accounting Standards Issued but Not Yet Adopted

In June 2018, the Financial Accounting Standards Board ("FASB") issued ASU 2018-07, Compensation – Stock Compensation (Topic 718), Improvements to Nonemployee Share-Based Payment Accounting. This ASU is intended to simplify aspects of share-based compensation issued to non-employees by making the guidance consistent with accounting for employee share-based compensation. This guidance is effective for fiscal years beginning after December 15, 2019, including interim periods within that fiscal year. Early adoption is permitted. The Company is currently in the process of evaluating the impact of this guidance on its financial statements.

There were other updates recently issued accounting pronouncement. The Company's management does not believe that other than disclosed above, accounting pronouncements that recently issued but not yet adopted will have a material impact on its financial position, results of operations or cash flows.

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Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
Revenue
Cost of Revenue
Gross Profit
Operating Expenses
General and administrative	261,286	132,580	598,608	374,796
Total Operating Expenses	(261,286)	(132,580)	(598,608)	(374,796)
Other Income (Expenses)
Interest expense		(160)		(160)
Rental income	18,851		50,088
Total Other Income (Expense)	18,851	(160)	50,088	(160)
Loss before Income Taxes	(242,435)	(132,740)	(548,520)	(374,956)
Provision for Income Tax
Net Loss	$ (242,435)	$ (132,740)	$ (548,520)	$ (374,956)
Loss per Share - Basic and Diluted	$ (0.01)	$ (0.02)	$ (0.02)	$ (0.05)
Weighted Average Shares Outstanding - Basic and Diluted	22,813,826	8,000,000	21,956,022	8,000,000

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Loan Payable

9 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

LOAN PAYABLE

NOTE 6 – LOAN PAYABLE

On December 11, 2018, the Company received from a stockholder $55,000 in cash, a short-term loan bearing no interest, unsecured, and payable on demand but no later than February 28, 2019. The Company paid back the loan to the stockholder in two payments of $25,000 and $30,000 on February 4, 2019 and February 20, 2019, respectively. The Company recorded the loan payable of $0 and $55,000 as a current liability in the accompanying financial statements at September 30, 2019 and December 31, 2018, respectively.

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Subsequent Events

9 Months Ended

Sep. 30, 2019

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 10 – SUBSEQUENT EVENTS

Management has evaluated subsequent events through the date of this Form 10-Q, the date the financial statements were available to be issued, noting the following items would impact the accounting for events or transactions in the current period or require additional disclosure.

Equity Transactions

As a result of all stock issuances in the offerings, a total of 26,611,264 shares of common stock of the Company have been issued and outstanding as of the date of this Form 10-Q.

Lease Transaction

On October 1, 2019, pursuant to the terms of the lease agreement, the Company paid $79,000 to the landlord, consisting of an additional security deposit of $10,000 and $69,000 as prepaid rent for the six months term December 1, 2019 to May 31, 2020 (See NOTE 7).

Securities and Exchange Commission Order

On August 22, 2019, the Company became aware of an Securities and Exchange Commission Order Instituting Administrative Proceedings and Notice of Hearing alleging that the Company is delinquent in certain of its periodic filings with the Commission and indicating that administrative proceedings are intended to be held (i) to determine all delinquent filings and any defenses of the Company for any such delinquent filings, and (ii) to make a decision as whether it may be appropriate to take any action to suspend or revoke the Company's registration of its securities. The date of the Commission Order is August 14, 2019. The Company is actively working to resolve any delinquent filings as quickly as possible and intends to demonstrate to the Commission its diligence in that regard and filed an answer in response to the assertions made by the Commission.

On September 18, 2019, the Division of Enforcement of the Securities and Exchange Commission filed with the Office of the Secretary a Motion for Ruling on the Pleadings Against the Company seeking an order to revoke each class of securities of the Company registered with the Commission pursuant to Section 12(j) of the Securities Exchange Act of 1934.  At this time, the Company is diligently working to eliminate its filing delinquencies, and intends to become current on its filings on or before December 31, 2019.

Service Agreement with E1G

On or about September 30, 2019, the Company entered into an oral agreement with E1G to provide data processing, transaction processing and related services for the prepaid debit accounts created for the Company's customers in these additional countries - China, Europe, Philippines, Pakistan and United Arab Emirates. All other terms and conditions as set forth in the agreement to remain the same as per the January 15, 2018 agreement with E1G.

As of November 30, 2019, the Company has paid to E1G $924,780 as the processing fees to initiate and establish BINs for the Company in these selected countries.

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Subsequent Events (Details) - USD ($)		1 Months Ended
	Oct. 01, 2019	Dec. 23, 2019	Nov. 30, 2019	Sep. 30, 2019	Dec. 31, 2018
Subsequent Events (Textual)
Common shares issued				22,866,000	8,000,000
Common stock, shares outstanding					8,000,000
Subsequent Event [Member]
Subsequent Events (Textual)
Lease agreement paid amount	$ 79,000
Prepaid rent	69,000
Security deposit	$ 10,000
Description of rent terms	December 1, 2019 to May 31, 2020
Subsequent Event [Member] | Endless One Global, Inc. [Member]
Subsequent Events (Textual)
Common shares issued			26,611,264
Common stock, shares outstanding			26,611,264
Processing fees		$ 924,780

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Condensed Statements of Stockholders' Equity (Deficit) (Unaudited) - USD ($)	Common Stock	Additional Paid-in Capital	Stock Subscriptions Received in Advance	Subscriptions Receivable	Accumulated Deficit	Total
Balance at beginning at Dec. 31, 2017	$ 800	$ 4,312			$ (53,912)	$ (48,800)
Balance at beginning (in shares) at Dec. 31, 2017	8,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock subscriptions received in advance			665,500			665,500
Net loss					(374,956)	(374,956)
Balance at ending at Sep. 30, 2018	$ 800	4,312	665,500		(428,868)	241,744
Balance at ending (in shares) at Sep. 30, 2018	8,000,000
Balance at beginning at Jun. 30, 2018	$ 800	4,312	525,500		(296,128)	234,484
Balance at beginning (in shares) at Jun. 30, 2018	8,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock subscriptions received in advance			140,000			140,000
Net loss					(132,740)	(132,740)
Balance at ending at Sep. 30, 2018	$ 800	4,312	665,500		(428,868)	241,744
Balance at ending (in shares) at Sep. 30, 2018	8,000,000
Balance at beginning at Dec. 31, 2018	$ 800	4,312	690,500		(589,186)	106,426
Balance at beginning (in shares) at Dec. 31, 2018	8,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued as compensation to officer	$ 1,200					1,200
Common stock issued as compensation to officer (in shares)	12,000,000
Common stock issued for stock subscriptions	$ 187	750,313	(690,500)			60,000
Common stock issued for stock subscriptions (in shares)	1,866,000
Stock subscriptions received in advance			1,171,752			1,171,752
Stock subscriptions receivable	$ 100	499,900		(200,000)		300,000
Stock subscriptions receivable (in shares)	1,000,000
Net loss					(548,520)	(548,520)
Balance at ending at Sep. 30, 2019	$ 2,287	1,254,525	1,171,752	(200,000)	(1,137,706)	1,090,858
Balance at ending (in shares) at Sep. 30, 2019	22,866,000
Balance at beginning at Jun. 30, 2019	$ 2,267	1,054,545	1,078,752	(200,000)	(895,271)	1,040,293
Balance at beginning (in shares) at Jun. 30, 2019	22,666,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued for stock subscriptions	$ 20	199,980				200,000
Common stock issued for stock subscriptions (in shares)	200,000
Stock subscriptions received in advance			93,000			93,000
Net loss					(242,435)	(242,435)
Balance at ending at Sep. 30, 2019	$ 2,287	$ 1,254,525	$ 1,171,752	$ (200,000)	$ (1,137,706)	$ 1,090,858
Balance at ending (in shares) at Sep. 30, 2019	22,866,000

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Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Jan. 03, 2020
Document and Entity Information [Abstract]
Entity Registrant Name	Monetiva Inc.
Entity Central Index Key	0001681309
Document Type	10-Q
Document Period End Date	Sep. 30, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Incorporation State Country Code	DE
Entity File Number	000-55670
Entity Interactive Data Current	No
Entity Current Reporting Status	No
Entity Emerging Growth Company	true
Entity Transition Period	true
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Shell Company	true
Entity Common Stock, Shares Outstanding		26,611,264
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2019

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Prepaid Expenses

9 Months Ended

Sep. 30, 2019

Prepaid Expenses [Abstract]

PREPAID EXPENSES

NOTE 3 – PREPAID EXPENSES

The Company has made prepayments to Endless One Global ("E1G") with regard to E1G's service in providing data processing, transaction processing and related services for the prepaid debit accounts created for the Company's customers. As of September 30, 2019 and December 31, 2018, the prepayment to E1G were $824,780 and $350,480, respectively (See NOTE 8 - Service Agreement).

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Leases (Details Textual) - USD ($)				3 Months Ended		9 Months Ended		12 Months Ended
	Oct. 01, 2019	May 24, 2019	Feb. 09, 2018	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Jan. 02, 2019	Nov. 30, 2019	May 30, 2019	Nov. 01, 2018
Operating lease, description			The Company executed a non-cancellable operating lease for its principal office with the lease commencing March 1, 2018 for a period of 21 months maturing on November 30, 2019. The Company paid a security deposit of $25,136. The base rent of the lease was $12,202 for the first twelve months, increasing to $12,568 from the month thirteen to month twenty-one. The lease had a provision for rent abatement for only one month - April 2018.
Rent expense				$ 35,333	$ 35,333	$ 105,999	$ 82,443
Issuance of common stock value				200,000		60,000
Subsequent Event [Member]
Description of rent terms	December 1, 2019 to May 31, 2020
Security deposit	$ 10,000
Prepaid rent	$ 69,000
Rental Agreement [Member]
Operating lease, description		On May 24, 2019, the Company executed a month-to-month rental agreement to lease furnished premises. The lease term commenced June 1, 2019 for a one-year term with a monthly rent of $11,500 per month from June 1, 2019 to May 31, 2020.
Rent expense				34,500		46,000
Rent per month		$ 11,500
Rent agreement maturity terms		1 year
Description of rent increase terms		December 1, 2019 to May 31, 2020
Security deposit		$ 15,000		15,000	15,000	15,000	15,000			$ 15,000	$ 10,000
Rental Agreement [Member] | Subsequent Event [Member]
Prepaid rent									$ 69,000
Rental Agreement [Member]
Rent expense				35,333	35,333	105,999	82,443
Office Space [Member]
Rent expense				$ 507	$ 70,340	$ 1,521	$ 153,520
Cancellable operating lease per month								$ 169

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Summary of Significant Accounting Policies (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017
Summary of Significant Accounting Policies (Textual)
Cash balance	$ 530,616	$ 10,039	$ 65,408
Lease liabilities	124,524	132,485
Deferred rent liability		$ 7,960

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Loan Payable (Details) - USD ($)		1 Months Ended
	Feb. 04, 2019	Feb. 20, 2019	Sep. 30, 2019	Dec. 31, 2018	Dec. 11, 2018
Loan Payable (Textual)
Loan payable				$ 55,000
Shareholder [Member]
Loan Payable (Textual)
Received from stockholder					$ 55,000
Paid back loan to stockholder	$ 25,000	$ 30,000