0001687926-20-000004.txt : 20200515 0001687926-20-000004.hdr.sgml : 20200515 20200515130605 ACCESSION NUMBER: 0001687926-20-000004 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 34 CONFORMED PERIOD OF REPORT: 20200331 FILED AS OF DATE: 20200515 DATE AS OF CHANGE: 20200515 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Kriptech International Corp. CENTRAL INDEX KEY: 0001687926 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MISCELLANEOUS BUSINESS SERVICES [7380] IRS NUMBER: 371830331 STATE OF INCORPORATION: NV FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 333-214815 FILM NUMBER: 20883104 BUSINESS ADDRESS: STREET 1: 21/37 MOO 4, BANGRAK STREET 2: BOPHUT, KOH SAMUI, CITY: SURAT THANI PROVINCE STATE: W1 ZIP: 84320 BUSINESS PHONE: (424) 265-6700 MAIL ADDRESS: STREET 1: 21/37 MOO 4, BANGRAK STREET 2: BOPHUT, KOH SAMUI, CITY: SURAT THANI PROVINCE STATE: W1 ZIP: 84320 10-Q 1 kriptech10qmarch.htm 10-Q Form10Q



UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Form 10-Q

 


Mark One

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


For the quarterly period ended March 31, 2020


[   ]  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. 333-214815



KRIPTECH INTERNATIONAL CORP.

 (Exact name of registrant as specified in its charter)


(State or Other Jurisdiction of Incorporation or Organization)

37-1830331

IRS Employer Identification Number

7389

Primary Standard Industrial Classification Code Number



21/37 moo 4, Bangrak, Bophut, Koh Samui,

Surat Thani Province, Thailand 8810

Tel.  (424) 265-6700

 (Issuer’s telephone number)




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

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes [ ]   No[X]

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 [X]

Emerging growth company [   ]

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [   ]

Indicate by checkmark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [  ]  No [X ]

Applicable Only to Issuer Involved in Bankruptcy Proceedings During the Preceding Five Years.

N/A

Applicable Only to Corporate Registrants

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date:

Class

Outstanding as of May 14, 2020

Common Stock, $0.001

10,530,000




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KRIPTECH INTERNATIONAL CORP.


Form 10-Q



PART 1   


FINANCIAL INFORMATION

 

ITEM 1

UNAUDITED FINANCIAL STATEMENTS

4

   

   UNAUDITED BALANCE SHEETS

4

      

   UNAUDITED STATEMENTS OF OPERATIONS

5

 

   UNAUDITED STATEMENTS OF CASH FLOWS

6

 

   NOTES TO UNAUDITED FINANCIAL STATEMENTS

7

ITEM 2.   

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

10

ITEM 3.   

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

11

ITEM 4.

CONTROLS AND PROCEDURES

11


PART II.


OTHER INFORMATION

 

ITEM 1   

LEGAL PROCEEDINGS

12

ITEM 1A

RISK  FACTORS

12

ITEM 2.  

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

12

ITEM 3

DEFAULTS UPON SENIOR SECURITIES

12

ITEM 4

MINE SAFETY DISCLOSURES

12

ITEM 5  

OTHER INFORMATION

12

ITEM 6      

EXHIBITS

13



 

 

 

 


 

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KRIPTECH INTERNATIONAL CORP.

BALANCE SHEETS

 

MARCH 31, 2020

(UNAUDITED)

SEPTEMBER 30, 2019

(AUDITED)

ASSETS

 

 

Current Assets

 

 

 

Cash

$     81

$        153

 

Total current assets

81

153

Fixed assets

-

250

Total Assets                                                         

$     81

$        403

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current  Liabilities

 

Loan from related parties

$    11,968

$     2,600

 

Account payable

198

297

 

Total current liabilities

12,166

2,897

Total Liabilities

 

 

 

Stockholders’ Equity  (Deficit)

  

Common stock, $0.001 par value, 75,000,000 shares authorized;

 

 

10,530,000 shares and 10,530,000 shares issued and outstanding as of March 31, 2020 and September 30, 2019, respectively.

10,530

10,530

 

Additional paid-in-capital

22,770

22,770

 

Retained Earnings (Accumulated Deficit)

(45,385)

(35,794)

Total Stockholders’ equity (deficit)

(12,085)

(2,494)

 

 

 

Total Liabilities and Stockholders’ equity (deficit)

$     81

$        403



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


 

 

 


 



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KRIPTECH INTERNATIONAL CORP.

STATEMENT OF OPERATIONS

(UNAUDITED)

 

Three months ended March 31, 2020

Three months ended March 31, 2019

Six months ended March 31, 2020

Six months ended March 31, 2019


Revenue

$              -

$   1,000

$             -

$   5,600

 

 

 

 

 

Operating expenses

 

 

 

 

 General and administrative expenses

4,633

4,774

9,591

15,238

Net income (loss) from operations

(4,633)

(3,774)

(9,591)

(9,638)

Income (Loss) before provision for income taxes

(4,633)

(3,774)

(9,591)

(9,638)

 

 

 

 

 

Provision for income taxes

-

-

-

-

 

 

 

 

 

Net income (loss)

$     (4,633)

$    (3,774)

$    (9,591)

$   (9,638)

 

 

 

 

 

Income (loss) per common share:

 Basic and Diluted

$       (0.00)

$     (0.00)

$    (0.00)

$   (0.00)

 

 

 

 

 

Weighted Average Number of Common Shares  Outstanding:

Basic and Diluted

10,530,000

10,530,000

10,530,000

10,530,000


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

 

 

 

 


 

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KRIPTECH INTERNATIONAL CORP.

STATEMENT OF STOCKHOLDERS’ DEFICIT

MARCH 31, 2020

(UNAUDITED)

 

Number of

Common

Shares


Amount

Additional Paid-In-Capital

Deficit

accumulated



Total

Balances as of September 30, 2018

10,530,000

$   10,530

$    22,770

$   (25,330)

$   7,970

Net income (loss)                                               

-

-

-

(5,864)

(5,864)

Balances as of December 31, 2018

10,530,000

10,530

 22,770

(31,194)

2,106

Net income (loss)                                               

-

-

-

(3,774)

(3,774)

Balances as of March 31, 2019

10,530,000

10,530

22,770

(34,968)

(1,668)

 

 

 

 

 

 

Balances as of September 30, 2019

10,530,000

10,530

22,770

(35,794)

(2,494)

Net income (loss)                                               

-

-

-

(4,958)

  (4,958)

Balances as of December 31, 2019

10,530,000

    10,530

  22,770

   (40,752)

  (7,452)

Net income (loss)                                               

-

-

-

(4,633)

(4,633)

Balances as of March 31, 2020

10,530,000

$    10,530

$   22,770

$   (45,385)

$   (12,085)




The accompanying notes are an integral part of these financial statements

 

 

 

 



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KRIPTECH INTERNATIONAL CORP.

STATEMENT OF CASH FLOWS

(UNAUDITED)

 

 

Six months ended March 31, 2020

Six months ended March 31, 2019

Cash flows from Operating Activities

 

 

 

 

Net income (loss)

 

$          (9,591)

$           (9,638)

 

Depreciation

 

250

250

 

Increase (decrease) in accounts payable

 

(99)

-

 

Net cash provided by operating activities

 

(9,440)

(9,388)

 

 

 

 

 

Cash flows from Financing Activities

 

 

 

 

Proceeds of loan from shareholder

 

9,368

-

 

Net cash provided by financing activities

 

9,368

-

Net increase in cash and equivalents

 

(72)

(9,388)

Cash and equivalents at beginning of the period

 

153

9,820

Cash and equivalents at end of the period

 

$          81

$               432

 

Supplemental cash flow information:

 

 

 

 

Cash paid for:

 

 

 

 

Interest                                                                                               

 

$                  -

$                   -

 

Taxes                                                                                           

 

$                  -

$                   -



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

 

 

 

 






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KRIPTECH INTERNATIONAL CORP.

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS

FOR THE SIX MONTHS  PERIOD ENDED MARCH 31, 2020

(UNAUDITED)


NOTE 1 – ORGANIZATION AND BUSINESS

 

KRIPTECH INTERNATIONAL CORP. (the “Company”) is a corporation established under the corporation laws in the State of Nevada on March 20, 2016.  

The company intends to commence operations in the business of visa consultancy services.

The Company has adopted September 30 fiscal year end.


NOTE 2 – GOING CONCERN


The Company’s financial statements as of March 31, 2020 were prepared using generally accepted accounting principles in the United States of America applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. The Company has accumulated loss from inception (March 20, 2016) to March 31, 2020 of $45,385.


In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking third party equity and/or debt financing. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. These financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.


NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES


Basis of Presentation

 

The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America.


The financial statements included herein are unaudited; however, they contain all normal recurring accruals and adjustments that, in the opinion of management, are necessary to present fairly the Company’s financial position at March 31, 2020 the results of its operations for the six months ended March 31, 2020 and cash flows for the six months ended March 31, 2020. The results of operations for the six months ended March 31, 2020, are not necessarily indicative of the results to be expected for future quarters or the full year.



Cash and Cash Equivalents


For purposes of the statement of cash flows, the Company considers all highly liquid instruments purchased with an original maturity of six months or less to be cash equivalents. The Company's bank accounts are deposited in insured institutions. The funds are insured up to $250,000. At March 31, 2020 the Company's bank deposits did not exceed the insured amounts.






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Use of Estimates


Preparing financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. Actual results and outcomes may differ from management’s estimates and assumptions.


Property and Equipment


Property and equipment is stated at cost and depreciated using the straight-line method over the shorter of the estimated useful life of the asset. The estimated useful life of our property and equipment is as follows: computer equipment and computer software acquired for internal use, three years.

Stock-Based Compensation


As of March 31, 2020, the Company has not issued any stock-based payments to its employees.

Stock-based compensation is accounted for at fair value in accordance with ASC 718, when applicable.  To date, the Company has not adopted a stock option plan and has not granted any stock options.


Revenue Recognition


The Company follows the guidance of the Accounting Standards Codification (“ASC”) Topic 605, Revenue Recognition. We recognize revenue when all of the following conditions are satisfied: (1) there is persuasive evidence of an arrangement; (2) the product or service has been provided to the customer; (3) the amount of fees to be paid by the customer is fixed or determinable; and (4) the collection of our fees is probable.

 

The Company records revenue when it is realizable and earned and the consulting services have been rendered to the customers. 



Income Taxes


The Company follows the liability method of accounting for income taxes.  Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences).  The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.


New Accounting Pronouncements


There were various accounting standards and interpretations issued recently, none of which are expected to a have a material impact on our financial position, operations or cash flows.



NOTE 4 – FIXED ASSETS


On March 28, 2017, the Company purchased a computer for $1,375. The Company is stated at cost and depreciated using the straight-line method over the shorter of the estimated useful life of the asset. The estimated useful life of the equipment is as follows: computer equipment acquired for internal use, three years.


During six months ended March 31, 2020 and 2019, the Company recorded $250 and $250 in depreciation expense for the computer, respectively.


NOTE 5 – CAPTIAL STOCK


The Company has 75,000,000 shares of common stock authorized with a par value of $0.001 per share.


As of March 31, 2020, the Company had 10,530,000 shares issued and outstanding.



NOTE 6 – RELATED PARTY TRANSACTIONS

 

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


Since March 20, 2016 (Inception) through March 31, 2020, the Company’s president, treasurer and director loaned the Company $11,968 to pay for incorporation costs and operating expenses.  As of March 31, 2020, the amount outstanding was $11,968. The loan is non-interest bearing, due upon demand and unsecured.


NOTE 7. SUBSEQUENT EVENTS


In accordance with ASC 855-10 management has performed an evaluation of subsequent events from March 31, 2020 through the date the financial statements were issued. The following events were determined to be reportable.


On April 1, 2020, the Company’s president, treasurer and director loaned the Company $975 to pay for operating expenses.


FORWARD LOOKING STATEMENTS


Statements made in this Form 10-Q that are not historical or current facts are "forward-looking statements" made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 (the "Act") and Section 21E of the Securities Exchange Act of 1934. These statements often can be identified by the use of terms such as "may," "will," "expect," "believe," "anticipate," "estimate," "approximate" or "continue," or the negative thereof. We intend that such forward-looking statements be subject to the safe harbors for such statements. We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management's best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events.





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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION



We provide our consulting service in Thailand for Thai citizens. Thai people need visa for many countries in the world. We provide visa consulting service for visitors to Schengen area (26 European countries), USA (visitors visa type B1/B2), Canada, UK, Australia, China, and/or about 30 other countries.

 


RESULTS OF OPERATIONS


Three Months Period Ended March 31, 2020 compared to the Three Months Period Ended March 31, 2019


Revenue


During the three months period ended March 31, 2020 we have not generated any in revenue compared to $1,000 during the three months period ended March 31, 2019. The decrease of revenue was due to no sales for the three month period ended March 31, 2020.


Operating Expenses


During the three month period ended March 31, 2020, we incurred $4,633 in general and administrative expenses compared to $4,774 during the three months period ended March 31, 2019 .


Net Loss


Our net loss for the Three months period ended March 31, 2020 was $4,633 compared to net loss of $3,774 for the three months period ended March 31, 2019, due to no revenue for the three month period ended March 31, 2020.




Six Months Period Ended March 31, 2020 compared to the Six Months Period Ended March 31, 2019


Revenue


During the six months period ended March 31, 2020 we have not generated any in revenue compared to $5,600 during the six months period ended March 31, 2019. The decrease of revenue was due to no sales for the six month period ended March 31, 2020.


Operating Expenses


During the six month period ended March 31, 2020, we incurred $9,591 in general and administrative expenses compared to $15,238 during the six months period ended March 31, 2019 . The change in operating expenses for the six month period ended March 31, 2020 compared to six month period ended March 31, 2019 was because there was $3,500 expense for DTC advisory for the period ended March 31, 2019.


Net Loss


Our net loss for the six months period ended March 31, 2020 was $9,591 compared to net loss of $9,638 for the six months period ended March 31, 2019.



LIQUIDITY AND CAPITAL RESOURCES



As of March 31, 2020


As of March 31, 2020, our total assets were $81 compared to $403 in total assets at September 30, 2019. As of March 31, 2020, our current liabilities were $12,166 compared to $2,897 as of September 30, 2019.


Stockholders’ deficit was $12,085 as of March 31, 2020 compared to stockholders’ deficit of $2,494 as of September 30, 2019.

 


Cash Flows from Operating Activities



For the six months ended March 31, 2020, cash flow used for operating activities was $9,440 consisting of a net loss of $9,591 and depreciation of $250 and decrease of account payable of $99. For the six months ended March 31, 2019, cash flow used for operating activities was $9,388 consisting of a net loss  of $9,638 and depreciation expense of $250.



Cash Flows from Financing Activities


We have financed our operations primarily from either advancements or the issuance of equity and debt instruments. For the six-month period ended March 31, 2020 net cash provided by financing activities was $9,368 received from loan from related party. For the six-month period ended March 31, 2019 net cash provided by financing activities was $-0-.





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PLAN OF OPERATION AND FUNDING


We expect that working capital requirements will continue to be funded through a combination of our existing funds and further issuances of securities. Our working capital requirements are expected to increase in line with the growth of our business.


Existing working capital, further advances and debt instruments, and anticipated cash flow are expected to be adequate to fund our operations over the next six months. We have no lines of credit or other bank financing arrangements. Generally, we have financed operations to date through the proceeds of the private placement of equity and debt instruments. In connection with our business plan, management anticipates additional increases in operating expenses and capital expenditures relating to: (i) developmental expenses associated with a start-up business and (ii) marketing expenses. We intend to finance these expenses with further issuances of securities, and debt issuances. Thereafter, we expect we will need to raise additional capital and generate revenues to meet long-term operating requirements. Additional issuances of equity or convertible debt securities will result in dilution to our current shareholders. Further, such securities might have rights, preferences or privileges senior to our common stock. Additional financing may not be available upon acceptable terms, or at all. If adequate funds are not available or are not available on acceptable terms, we may not be able to take advantage of prospective new business endeavors or opportunities, which could significantly and materially restrict our business operations.


MATERIAL COMMITMENTS


As of the date of this Quarterly Report, we do not have any material commitments.


PURCHASE OF SIGNIFICANT EQUIPMENT


We do not intend to purchase any significant equipment during the next twelve months.


OFF-BALANCE SHEET ARRANGEMENTS


As of the date of this Quarterly Report, we do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.


GOING CONCERN


The independent auditors' report accompanying our September 30, 2019 financial statements contains an explanatory paragraph expressing substantial doubt about our ability to continue as a going concern. The financial statements have been prepared "assuming that we will continue as a going concern," which contemplates that we will realize our assets and satisfy our liabilities and commitments in the ordinary course of business.


ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK


As a “smaller reporting company” as defined by Item 10 of Regulation S-K, the Company is not required to provide this information.


ITEM 4.  CONTROLS AND PROCEDURES


Our management is responsible for establishing and maintaining a system of disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act) that is designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer’s management, including its principal executive officer or officers and principal financial officer or officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.


An evaluation was conducted under the supervision and with the participation of our management of the effectiveness of the design and operation of our disclosure controls and procedures as of March 31, 2020. Based on that evaluation, our management concluded that our disclosure controls and procedures were effective as of such date to ensure that information required to be disclosed in the reports that we file or submit under the Exchange Act, is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms. Such officer also confirmed that there was no change in our internal control over financial reporting during the Six-month period ended March 31, 2020 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.


PART II. OTHER INFORMATION


ITEM 1. LEGAL PROCEEDINGS


Management is not aware of any legal proceedings contemplated by any governmental authority or any other party involving us or our properties. As of the date of this Quarterly Report, no director, officer or affiliate is (i) a party adverse to us in any legal proceeding, or (ii) has an adverse interest to us in any legal proceedings. Management is not aware of any other legal proceedings pending or that have been threatened against us or our properties.


ITEM 1A. RISK FACTORS

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.



ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS


No unregistered shares were sold during the six month period ended March 31, 2020.


ITEM 3. DEFAULTS UPON SENIOR SECURITIES


No senior securities were issued and outstanding during six month period ended March 31, 2020.


ITEM 4. MINE SAFETY DISCLOSURES


Not applicable to our Company.


ITEM 5. OTHER INFORMATION


None.




11 | Page



ITEM 5. EXHIBITS


Exhibits:

31.1 Certification of Chief Executive Officer and Chief Financial Officer pursuant to Securities Exchange Act of 1934 Rule 13a-14(a) or 15d-14(a)


32.1 Certifications pursuant to Securities Exchange Act of 1934 Rule 13a-14(b) or 15d-14(b) and 18 U.S.C. Section 1350, as adopted 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 Document

101.LAB XBRL Taxonomy Extension Label Linkbase Document

101.PRE XBRL Taxonomy Extension Presentation Linkbase Document



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.


 

KRIPTECH INTERNATIONAL CORP.

Dated: May 15, 2020

By:/s/Anatolii Antontcev

 

Anatolii Antontcev, President and Chief Executive Officer and Chief Financial Officer































12 | Page



EX-31.1 2 exhibit31.htm CERTIFICATION exhibit32.htm - Generated by SEC Publisher for SEC Filing

     

Exhibit 31.1

  

  

Certification of Chief Executive Officer pursuant to Securities Exchange

Act of 1934 Rule 13a-14(a) or 15d-14(a)

 

 


  

1. I,Anatolii Antontce,  have reviewed this Quarterly Report on Form 10-Q of KRIPTECH INTERNATIONAL CORP.;

  

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

  

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

  

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and we 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 o

 

f financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

  

 

 

c)

  

evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

  

 

 

d)

  

disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

  

 

 

5.

  

The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of 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.

  

  

  

  

  

 

  

 

 

  

  

  

  

  

  

  

  

  

May 15, 2020                                            By:

   /S/                                                                 Anatolii Antontcev

  

 

 Name:              Anatolii Antontcev

  

                                                                                                             Title: President

                                                                                                           Chief Executive Officer and ChiefFinancial Officer

  



EX-32.1 3 exhibit32.htm CERTIFICATION exhibit32.htm - Generated by SEC Publisher for SEC Filing

     

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 KRIPTECH INTERNATIONAL CORP. (the “Company”) on Form 10-Q for the quarter ended  March 31, 2020, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Anatolii Antontcev, Chief  Executive Officer and Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:

  

 

 

(1)

The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

  

 

 

(2)

The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.

  

  

  

 

 

 

  

  

  

  

  

  

  

  

  

May 15, 2020                                            By:

/S/                                                                Anatolii Antontcev

  

 

Name:             Anatolii Antontcev

  

                                                                                                            Title: President

                                                                                                            Chief Executive Officer and ChiefFinancial Officer

  



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STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from Operating Activities    
Net income (loss) $ (9,591) $ (9,638)
Depreciation 250 250
Increase (decrease) in accounts payable (99) 0
Net cash provided by operating activities (9,440) (9,388)
Cash flows from Financing Activities    
Proceeds of loan from shareholder 9,368 0
Net cash provided by financing activities 9,368 0
Net increase in cash and equivalents (72) (9,388)
Cash and equivalents at beginning of the period 153 9,820
Cash and equivalents at end of the period 81 432
Cash paid for:    
Interest 0 0
Taxes $ 0 $ 0
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BALANCE SHEETS (Unaudited) - USD ($)
Mar. 31, 2020
Sep. 30, 2019
Current Assets    
Cash $ 81 $ 153
Total current assets 81 153
Fixed assets 0 250
Total Assets 81 403
Current Liabilities    
Loan from related parties 11,968 2,600
Account payable 198 297
Total current liabilities $ 12,166 $ 2,897
Stockholders' Equity (Deficit)    
Common stock, $0.001 par value, 75,000,000 shares authorized; 10,530,000 shares and 10,530,000 shares issued and outstanding as of March 31, 2020 and September 30, 2019, respectively. 10,530 10,530
Additional paid-in-capital $ 22,770 $ 22,770
Retained Earnings (Accumulated Deficit) (45,385) (35,794)
Total Stockholders' equity (deficit) (12,085) (2,494)
Total Liabilities and Stockholders' equity (deficit) $ 81 $ 403
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48 Months Ended
Mar. 31, 2020
USD ($)
Related Party Transaction, Due from (to) Related Party, Current [Abstract]  
Since March 20, 2016 (Inception) through March 31, 2020, the Company's president, treasurer and director loaned the Company $11,968 to pay for incorporation costs and operating expenses $ 11,968
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- CAPTIAL STOCK
6 Months Ended
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NOTE 5 - CAPTIAL STOCK

 

The Company has 75,000,000 shares of common stock authorized with a par value of $0.001 per share.

 

As of March 31, 2020, the Company had 10,530,000 shares issued and outstanding.

 

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USD ($)
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6 Months Ended
Mar. 31, 2020
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NOTE 4 - FIXED ASSETS

 

On March 28, 2017, the Company purchased a computer for $1,375. The Company is stated at cost and depreciated using the straight-line method over the shorter of the estimated useful life of the asset. The estimated useful life of the equipment is as follows: computer equipment acquired for internal use, three years.

 

During six months ended March 31, 2020 and 2019, the Company recorded $250 and $250 in depreciation expense for the computer, respectively.

 

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Significant Accounting Policies (Policies)
6 Months Ended
Mar. 31, 2020
Significant Accounting Policies (Policies) [Abstract]  
Basis of Presentation

 

Basis of Presentation

 

The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America.

 

The financial statements included herein are unaudited; however, they contain all normal recurring accruals and adjustments that, in the opinion of management, are necessary to present fairly the Company's financial position at March 31, 2020 the results of its operations for the six months ended March 31, 2020 and cash flows for the six months ended March 31, 2020. The results of operations for the six months ended March 31, 2020, are not necessarily indicative of the results to be expected for future quarters or the full year.

 

 

Cash and Cash Equivalents

 

For purposes of the statement of cash flows, the Company considers all highly liquid instruments purchased with an original maturity of six months or less to be cash equivalents. The Company's bank accounts are deposited in insured institutions. The funds are insured up to $250,000. At March 31, 2020 the Company's bank deposits did not exceed the insured amounts.

 

 

 

Use of Estimates

 

Preparing financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. Actual results and outcomes may differ from management's estimates and assumptions.

 

Property and Equipment

 

Property and equipment is stated at cost and depreciated using the straight-line method over the shorter of the estimated useful life of the asset. The estimated useful life of our property and equipment is as follows: computer equipment and computer software acquired for internal use, three years.

Stock-Based Compensation

 

As of March 31, 2020, the Company has not issued any stock-based payments to its employees.

Stock-based compensation is accounted for at fair value in accordance with ASC 718, when applicable.  To date, the Company has not adopted a stock option plan and has not granted any stock options.

 

Revenue Recognition

 

The Company follows the guidance of the Accounting Standards Codification (“ASC”) Topic 605, Revenue Recognition. We recognize revenue when all of the following conditions are satisfied: (1) there is persuasive evidence of an arrangement; (2) the product or service has been provided to the customer; (3) the amount of fees to be paid by the customer is fixed or determinable; and (4) the collection of our fees is probable.

 

The Company records revenue when it is realizable and earned and the consulting services have been rendered to the customers. 

 

 

Income Taxes

 

The Company follows the liability method of accounting for income taxes.  Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences).  The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

 

New Accounting Pronouncements

 

There were various accounting standards and interpretations issued recently, none of which are expected to a have a material impact on our financial position, operations or cash flows.

 

 

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NOTE 1 - ORGANIZATION AND BUSINESS

 

KRIPTECH INTERNATIONAL CORP. (the “Company”) is a corporation established under the corporation laws in the State of Nevada on March 20, 2016. 

The company intends to commence operations in the business of visa consultancy services.

The Company has adopted September 30 fiscal year end.

 

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NOTE 6 - RELATED PARTY TRANSACTIONS

 

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SUBSEQUENT EVENTS (Details Text)
Apr. 01, 2020
USD ($)
Subsequent Events Details [Abstract]  
On April 1, 2020, the Company's president, treasurer and director loaned the Company $975 to pay for operating expenses. $ 975
XML 27 R9.htm IDEA: XBRL DOCUMENT v3.20.1
- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
6 Months Ended
Mar. 31, 2020
- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]  
- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Basis of Presentation

 

The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America.

 

The financial statements included herein are unaudited; however, they contain all normal recurring accruals and adjustments that, in the opinion of management, are necessary to present fairly the Company's financial position at March 31, 2020 the results of its operations for the six months ended March 31, 2020 and cash flows for the six months ended March 31, 2020. The results of operations for the six months ended March 31, 2020, are not necessarily indicative of the results to be expected for future quarters or the full year.

 

 

Cash and Cash Equivalents

 

For purposes of the statement of cash flows, the Company considers all highly liquid instruments purchased with an original maturity of six months or less to be cash equivalents. The Company's bank accounts are deposited in insured institutions. The funds are insured up to $250,000. At March 31, 2020 the Company's bank deposits did not exceed the insured amounts.

 

 

 

Use of Estimates

 

Preparing financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. Actual results and outcomes may differ from management's estimates and assumptions.

 

Property and Equipment

 

Property and equipment is stated at cost and depreciated using the straight-line method over the shorter of the estimated useful life of the asset. The estimated useful life of our property and equipment is as follows: computer equipment and computer software acquired for internal use, three years.

Stock-Based Compensation

 

As of March 31, 2020, the Company has not issued any stock-based payments to its employees.

Stock-based compensation is accounted for at fair value in accordance with ASC 718, when applicable.  To date, the Company has not adopted a stock option plan and has not granted any stock options.

 

Revenue Recognition

 

The Company follows the guidance of the Accounting Standards Codification (“ASC”) Topic 605, Revenue Recognition. We recognize revenue when all of the following conditions are satisfied: (1) there is persuasive evidence of an arrangement; (2) the product or service has been provided to the customer; (3) the amount of fees to be paid by the customer is fixed or determinable; and (4) the collection of our fees is probable.

 

The Company records revenue when it is realizable and earned and the consulting services have been rendered to the customers. 

 

 

Income Taxes

 

The Company follows the liability method of accounting for income taxes.  Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences).  The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

 

New Accounting Pronouncements

 

There were various accounting standards and interpretations issued recently, none of which are expected to a have a material impact on our financial position, operations or cash flows.

 

 

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STATEMENT OF STOCKHOLDERS' DEFICIT (Unaudited) - USD ($)
Total
Number of Common Shares
Additional Paid-In-Capital
Deficit accumulated
Balances at Sep. 30, 2018 $ 7,970 $ 10,530 $ 22,770 $ (25,330)
Balances (in shares) at Sep. 30, 2018   10,530,000    
Net income (loss) (5,864)     (5,864)
Balances at Dec. 31, 2018 2,106 $ 10,530 22,770 (31,194)
Balances (in shares) at Dec. 31, 2018   10,530,000    
Net income (loss) (3,774)     (3,774)
Balances at Mar. 31, 2019 (1,668) $ 10,530 22,770 (34,968)
Balances (in shares) at Mar. 31, 2019   10,530,000    
Balances at Sep. 30, 2019 (2,494) $ 10,530 22,770 (35,794)
Balances (in shares) at Sep. 30, 2019   10,530,000    
Net income (loss) (4,958)     (4,958)
Balances at Dec. 31, 2019 (7,452) $ 10,530 22,770 (40,752)
Balances (in shares) at Dec. 31, 2019   10,530,000    
Net income (loss) (4,633)     (4,633)
Balances at Mar. 31, 2020 $ (12,085) $ 10,530 $ 22,770 $ (45,385)
Balances (in shares) at Mar. 31, 2020   10,530,000    
XML 30 R1.htm IDEA: XBRL DOCUMENT v3.20.1
Document and Entity Information - shares
6 Months Ended
Mar. 31, 2020
May 14, 2020
Document and Entity Information [Abstract]    
Document Type 10-Q  
Amendment Flag false  
Document Period End Date Mar. 31, 2020  
Document Fiscal Year Focus 2020  
Document Fiscal Period Focus Q2  
Entity Registrant Name KRIPTECH INTERNATIONAL CORP.  
Entity Central Index Key 0001687926  
Current Fiscal Year End Date --09-30  
Entity Filer Category Non-accelerated Filer  
Entity Common Stock, Shares Outstanding   10,530,000
Entity Current Reporting Status Yes  
Entity Interactive Data Current No  
Entity Shell Company false  
Entity Small Business true  
Entity Emerging Growth Company true  
Entity Ex Transition Period false  
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STATEMENT OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2020
Mar. 31, 2019
Income Statement [Abstract]        
Revenue $ 0 $ 1,000 $ 0 $ 5,600
Operating expenses        
General and administrative expenses 4,633 4,774 9,591 15,238
Net income (loss) from operations (4,633) (3,774) (9,591) (9,638)
Income (Loss) before provision for income taxes (4,633) (3,774) (9,591) (9,638)
Provision for income taxes 0 0 0 0
Net income (loss) $ (4,633) $ (3,774) $ (9,591) $ (9,638)
Income (loss) per common share: Basic and Diluted $ (0.00) $ (0.00) $ (0.00) $ (0.00)
Weighted Average Number of Common Shares Outstanding: Basic and Diluted 10,530,000 10,530,000 10,530,000 10,530,000
XML 33 R8.htm IDEA: XBRL DOCUMENT v3.20.1
- GOING CONCERN
6 Months Ended
Mar. 31, 2020
- GOING CONCERN [Abstract]  
- GOING CONCERN

NOTE 2 - GOING CONCERN

 

The Company's financial statements as of March 31, 2020 were prepared using generally accepted accounting principles in the United States of America applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. The Company has accumulated loss from inception (March 20, 2016) to March 31, 2020 of $45,385.

 

In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management's plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking third party equity and/or debt financing. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. These financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

 

XML 34 R13.htm IDEA: XBRL DOCUMENT v3.20.1
SUBSEQUENT EVENTS
6 Months Ended
Mar. 31, 2020
SUBSEQUENT EVENTS [Abstract]  
SUBSEQUENT EVENTS


NOTE 7. SUBSEQUENT EVENTS

 

In accordance with ASC 855-10 management has performed an evaluation of subsequent events from March 31, 2020 through the date the financial statements were issued. The following events were determined to be reportable.

 

On April 1, 2020, the Company's president, treasurer and director loaned the Company $975 to pay for operating expenses.

 

FORWARD LOOKING STATEMENTS

 

Statements made in this Form 10-Q that are not historical or current facts are "forward-looking statements" made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 (the "Act") and Section 21E of the Securities Exchange Act of 1934. These statements often can be identified by the use of terms such as "may," "will," "expect," "believe," "anticipate," "estimate," "approximate" or "continue," or the negative thereof. We intend that such forward-looking statements be subject to the safe harbors for such statements. We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management's best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events.

 

 

XML 35 R17.htm IDEA: XBRL DOCUMENT v3.20.1
- FIXED ASSETS (Details Text) - USD ($)
6 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 28, 2017
Fixed Assets Details [Abstract]      
On March 28, 2017, the Company purchased a computer for $1,375     $ 1,375
During six months ended March 31, 2020 and 2019, the Company recorded $250 and $250 in depreciation expense for the computer, respectively. $ 250 $ 250