0001477932-18-004031.txt : 20180814 0001477932-18-004031.hdr.sgml : 20180814 20180814155558 ACCESSION NUMBER: 0001477932-18-004031 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 36 CONFORMED PERIOD OF REPORT: 20180630 FILED AS OF DATE: 20180814 DATE AS OF CHANGE: 20180814 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Adveco Group Inc. CENTRAL INDEX KEY: 0001698519 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-APPAREL, PIECE GOODS & NOTIONS [5130] IRS NUMBER: 981326996 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 333-216143 FILM NUMBER: 181017115 BUSINESS ADDRESS: STREET 1: ROOM 1424 BLOCK 3 STREET 2: ZHONG JIAN JIN XIANG PLAZA CITY: HUBEI STATE: F4 ZIP: 050061 BUSINESS PHONE: 86 0724-6702631 MAIL ADDRESS: STREET 1: ROOM 1424 BLOCK 3 STREET 2: ZHONG JIAN JIN XIANG PLAZA CITY: HUBEI STATE: F4 ZIP: 050061 10-Q 1 advv_10q.htm FORM 10-Q advv_10q.htm

 

U.S. 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 June 30, 2018

 

¨ 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. 333-216143

 

Adveco Group Inc.

(Exact name of registrant as specified in its charter)

 

Nevada

 

98-1326996

(State or other jurisdiction of incorporation)

 

(IRS Employer Identification No.)

 

 

 

Room 1424 Block 3

Zhong Jian Jin Xiang Plaza

Hubei, PRC

 

050061  

(Address of principal executive offices)

 

(Zip Code)

 

(86) 0724-6702631

(Address and telephone number of principal executive offices)

 

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 x

 

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

 

As of August 14, 2018, there were 6,505,100 shares of common stock, $0.001 par value outstanding.

 

 
 
 
 

 

ITEM 1. FINANCIAL STATEMENTS (UNAUDITED)

 

ADVECO GROUP INC.

UNAUDITED CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2018 AND DECEMBER 31, 2017

 

CONTENTS

 

 

 

 

 

 

 

Unaudited Condensed Balance Sheets

 

 

3

 

 

 

 

 

 

Unaudited Condensed Statements of Operations and Comprehensive Loss

 

 

4

 

 

 

 

 

 

Unaudited Condensed Statements of Cash Flows

 

 

5

 

 

 

 

 

 

Notes to Financial Statements

 

 

6

 

 

 
2
 
 

  

Adveco Group Inc.

Unaudited Condensed Balance Sheets

 

 

 

June 30,

2018

 

 

December 31,

2017

 

 

 

(Unaudited)

 

 

(Audited)

 

Liabilities and Stockholders’ Equity

 

 

 

 

 

 

Current liabilities

 

 

 

 

 

 

Accounts payable and accrued liabilities

 

$ 4,603

 

 

$ 4,000

 

Loans from related parties

 

 

55,659

 

 

 

3,504

 

Total current liabilities

 

$

60,262

 

 

$ 7,504

 

 

 

 

 

 

 

 

 

 

Total Liabilities

 

$

60,262

 

 

$ 7,504

 

 

 

 

 

 

 

 

 

 

Stockholders’ Equity

 

 

 

 

 

 

 

 

Common Stock, $0.001 par value,7,500,000 shares authorized;  6,505,100 shares issued and outstanding as of June 30, 2018 and December 31, 2017, respectively

 

$ 6,505

 

 

$ 6,505

 

Additional paid-in capital

 

 

28,597

 

 

 

28,597

 

Accumulated deficit

 

 

(95,364

)

 

 

(42,606 )

Total Stockholders’ Equity

 

$ (60,262 )

 

$ (7,504 )

 

 

 

 

 

 

 

 

 

Total Liabilities and Stockholders’ Equity

 

$ -

 

 

$ -

 

 

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

 

 
3
 
Table of Contents

 

Adveco Group Inc.

Unaudited Condensed Statements of Operations and Comprehensive Loss

 

 

 

 

Three Months ended

 

 

Six Months ended

 

 

 

 

June 30,
2018

 

 

June 30,
2017

 

 

June 30,
2018

 

 

June 30,
2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenues

 

 

$ -

 

 

$ 19,097

 

 

$ -

 

 

$ 29,097

 

Cost of revenues

 

 

 

-

 

 

 

6,670

 

 

 

-

 

 

 

13,670

 

Gross profit

 

 

 

-

 

 

 

12,427

 

 

 

-

 

 

 

15,427

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

General and administrative expenses

 

 

 

28,443

 

 

 

1,882

 

 

 

52,758

 

 

 

2,911

 

Total operating expenses

 

 

 

28,443

 

 

 

1,882

 

 

 

52,758

 

 

 

2,911

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating (loss) / profits

 

 

 

(28,443 )

 

 

10,545

 

 

 

(52,758

)

 

 

12,516

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other income (expenses):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other expenses

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss) / profit before taxes from continuing operations

 

 

 

(28,443 )

 

 

10,545

 

 

 

(52,758

)

 

 

12,516

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision for income taxes

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) / profit

 

 

 

(28,443 )

 

 

10,545

 

 

 

(52,758

)

 

 

12,516

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss) / Profit per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

-Basic and diluted

 

 

 

(0.00 )

 

 

0.00

 

 

 

(0.00 )

 

 

(0.00 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted weighted average shares outstanding

 

 

 

6,505,100

 

 

 

5,748,763

 

 

 

6,505,100

 

 

 

5,376,450

 

 

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

 

 
4
 
Table of Contents

  

Adveco Group Inc.

Unaudited Condensed Statements of Cash Flows

 

 

 

Six months ended

 

 

 

June 30,
2018

 

 

June 30,
2017

 

 

 

 

 

 

 

 

Cash flows from operating activities

 

 

 

 

 

 

Net (loss) / income from continuing operations

 

$

(52,758

)

 

$ 12,516

 

Amortization and depreciation

 

 

-

 

 

 

700

 

Decrease in prepaid expenses

 

 

-

 

 

 

800

 

Decrease in deferred revenue

 

 

-

 

 

 

9,928

 

Increase in accounts payable and accrued liabilities

 

 

603

 

 

 

8,000

 

Net cash provided by operating activities

 

$

(52,155

)

 

$ 31,944

 

 

 

 

 

 

 

 

 

 

Cash flows from investing activities

 

 

 

 

 

 

 

 

Purchase of Equipment

 

 

-

 

 

 

(24,000 )

Purchase of Computer

 

 

-

 

 

 

(1,200 )

Net cash used in investing activities

 

$ -

 

 

$ (25,200 )

 

 

 

 

 

 

 

 

 

Cash flows from financing activities

 

 

 

 

 

 

 

 

Proceeds from loan from common stock

 

 

-

 

 

 

30,102

 

Proceeds from loan from shareholder

 

 

52,155

 

 

 

12,000

 

Net cash provided by financing activities

 

$ 52,155

 

 

$ 42,102

 

 

 

 

 

 

 

 

 

 

Net increase in cash and cash equivalents

 

 

-

 

 

 

48,846

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents–beginning of period

 

 

-

 

 

 

749

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents–end of period

 

$ -

 

 

$ 49,595

 

 

 

 

 

 

 

 

 

 

Supplementary cash flow information:

 

 

 

 

 

 

 

 

Interest paid

 

$ -

 

 

$ -

 

Income taxes paid

 

$ -

 

 

$ -

 

 

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

 

 
5
 
Table of Contents

 

Adveco Group Inc.
Notes to Financial Statements

 

1. Organization and Principal Activities

 

Adveco Group Inc. (“the Company”) was incorporated under the laws of the State of Nevada on September 20, 2016. The Company is currently a shell company with no significant asset.

 

Since inception through June 30, 2018, the Company has accumulated losses of $95,364.

 

2. Summary of Significant Accounting Policies

 

Method of accounting

 

Management has prepared the accompanying financial statements and these notes in accordance to generally accepted accounting principles in the United States of America; the Company maintains its general ledger and journals with the accrual method accounting.

 

Use of estimates

 

The preparation of the financial statements 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 periods. Management makes these estimates using the best information available at the time the estimates are made; however, actual results could differ materially from those estimates.

 

Cash and cash equivalents

 

The Company considers all highly liquid investments purchased with original maturities of three months or less to be cash equivalents.

 

Trade receivables

 

Trade receivables are recognized and carried at the original invoice amount less allowance for any uncollectible amounts. An estimate for doubtful accounts is made when collection of the full amount is no longer probable. Bad debts are written off as incurred.

 

Inventories

 

Inventories consist of raw materials and finished goods which are stated at the lower of cost or market value. Finished goods are comprised of direct materials, direct labor, inbound shipping costs, and allocated overhead. The Company applies the weighted average cost method to its inventory.

 

 
6
 
Table of Contents

 

Adveco Group Inc.
Notes to Financial Statements

 

Plant and equipment

 

Plant and equipment are carried at cost less accumulated depreciation. Depreciation is provided over their estimated useful lives, using the straight-line method. The Company’s typically applies a salvage value of 0% to 10%. The estimated useful lives of the plant and equipment are as follows:

 

Computer

3 years

Office equipment

10 years

 

The cost and related accumulated depreciation of assets sold or otherwise retired are eliminated from the accounts, and any gain or loss are included in the Company’s results of operations. The costs of maintenance and repairs are recognized to expenses as incurred; significant renewals and betterments are capitalized.

 

Accounting for the impairment of long-lived assets

 

The Company annually reviews its long-lived assets for impairment or whenever events or changes in circumstances indicate that the carrying amount of assets may not be recoverable. Impairment may be the result of becoming obsolete from a change in the industry, introduction of new technologies, or if the Company has inadequate working capital to utilize the long-lived assets to generate the adequate profits. Impairment is present if the carrying amount of an asset is less than its expected future undiscounted cash flows.

 

If an asset is considered impaired, a loss is recognized based on the amount by which the carrying amount exceeds the fair market value of the asset. Assets to be disposed are reported at the lower of the carrying amount or fair value less costs to sell.

 

Revenue recognition

 

The Company will recognize revenue when products are fully delivered or services have been provided and collection is reasonably assured.

 

Income taxes

 

The Company accounts for income tax using an asset and liability approach and allows for recognition of deferred tax benefits in future years. Under the asset and liability approach, deferred taxes are provided for the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. A valuation allowance is provided for deferred tax assets if it is more likely than not these items will either expire before the Company is able to realize their benefits, or that future realization is uncertain.

 

Comprehensive income

 

The Company uses FASB ASC Topic 220, “Reporting Comprehensive Income”. Comprehensive income is comprised of net income and all changes to the statements of stockholders’ equity, except the changes in paid-in capital and distributions to stockholders due to investments by stockholders.

 

Earnings per share

 

The Company computes earnings per share (“EPS”) in accordance with ASC Topic 260, “Earnings per share”. Basic EPS is measured as the income or loss available to common shareholders divided by the weighted average common shares outstanding for the period. Diluted EPS presents the dilutive effect on a per share basis from the potential conversion of convertible securities or the exercise of options and or warrants; the dilutive effects of potentially convertible securities are calculated using the as-if method; the potentially dilutive effect of options or warrants are calculated using the treasury stock method. Securities that are potentially an anti-dilutive effect (i.e. those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS.

 

 
7
 
Table of Contents

 

Adveco Group Inc.
Notes to Financial Statements Financial instruments

 

The Company’s financial instruments, including cash and equivalents, accounts and other receivables, accounts and other payables, accrued liabilities and short-term debt, have carrying amounts that approximate their fair values due to their short maturities. ASC Topic 820, “Fair Value Measurements and Disclosures,” requires disclosure of the fair value of financial instruments held by the Company. ASC Topic 825, “Financial Instruments,” defines fair value, and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. The carrying amounts reported in the balance sheets for receivables and current liabilities each qualify as financial instruments and are a reasonable estimate of their fair values because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. The three levels of valuation hierarchy are defined as follows:

 

 

·

Level 1 - inputs to the valuation methodology used quoted prices for identical assets or liabilities in active markets.

 

 

 

 

·

Level 2 - inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.

 

 

 

 

·

Level 3 - inputs to the valuation methodology are unobservable and significant to the fair value measurement.

 

The Company analyzes all financial instruments with features of both liabilities and equity under ASC 480, “Distinguishing Liabilities from Equity,” and ASC 815.

 

Commitments and contingencies

 

Liabilities for loss contingencies arising from claims, assessments, litigation, fines and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated.

 

3. Going Concern

 

The accompanying financial statements have been prepared on a going-concern basis. The going-concern basis assumes that assets will be realized and liabilities will be settled in the ordinary course of business in the amounts disclosed in the financial statements. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they become due. For the six months ended June 30, 2018, the Company incurred a loss of $52,758. As of June 30, 2018, the Company had a working capital deficit of approximately $60,262. These conditions raise substantial doubt as to whether the Company may continue as a going concern.

 

To improve its solvency, the Company is working to obtain new working capital through private placements of its common stock or convertible debt securities to qualified investors.

 

 
8
 
Table of Contents

 

Adveco Group Inc.
Notes to Financial Statements

 

4. Equity

 

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

 

On December 19, 2016, the Company issued 5,000,000 shares of its common stock at $0.001 per share for total proceeds of $5,000.

 

In 2017, the Company sold 1,505,100 shares of its common stock at $0.02 per share for total proceeds of $30,102.

 

As of June 30, 2018, the Company had 6,505,100 shares issued and outstanding. The additional paid in capital was $28,597.

 

5. 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 September 20, 2016 (date of inception) through June 30, 2018 the Company’s sole officer and director loaned the Company to pay for operating expenses and purchase of equipment. As of June 30, 2018, the amount outstanding was $55,659. The loan is non-interest bearing, due upon demand and unsecured.

 

6. Contingencies

 

The Company may from time to time be subject to legal proceedings and claims that may arise in the ordinary course of its business. There are no legal matters pending at the present date.

 

7. Subsequent events

 

In accordance with ASC 855-10, Company management reviewed all material events through the date of this report and determined that there are no material subsequent events to report.

 

 
9
 
Table of Contents

 

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

 

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.

 

DESCRIPTION OF OUR BUSINESS

 

GENERAL INFORMATION

 

Adveco Group Inc. was incorporated in the State of Nevada on September 20, 2016 and established a fiscal year end of December 31. We have limited revenue, have minimal assets and have incurred losses since inception. We are currently a “shell company” with no meaningful assets or operations other than our efforts to identify and merge with an operating company. We were initially a distributor of apparel and workwear from Kyrgyzstan to the markets of Europe and Commonwealth of Independent States (CIS) countries.

 

Effective December 5, 2017, as a result of a private transaction, the control block of voting stock of the Company, represented by 5,000,000 shares of common stock (the “Shares”), was transferred from Inna Min to MA Xuebing, ZHANG Qiang, LIU Dezhen, MA Yue, DENG Kefang, LI Yumei, LIU Hongju, YANG Chengjie, GONG Ling, LI Yuanhong, LI Xunguo, LIU Bin, HUANG Shuanglin, HE Quanmei, ZHOU Keping, WANG Xianmei, WAN Qunzhi (the “ Purchasers”) , and a change of control of the Company occurred.

 

The consideration paid for the Shares, which represent 76.86% of the issued and outstanding share capital of the Company on a fully-diluted basis, was $378,998. The source of the cash consideration for the Shares was personal funds of the Purchasers. In connection with the transaction, Inna Min released the Company from all debts owed.

 

Upon the consummation of the change of control, Ms. Inna Min, our former executive officer and director, resigned from all of her positions with the Company. Her resignation was not due to any dispute or disagreement with the Company on any matter relating to the Company’s operations, policies or practices.

  

The following individuals were appointed to serve in the positions set forth next to their names below:

 

Name

 

Age

 

Position

Xuebing Ma

 

50

 

Director, Chief Executive Officer, President, Treasurer, and Secretary

 

Xuebing Ma was appointed to serve as a Director of the Company effective December 5, 2017.

 

We currently have no business operations or significant assets.

 

 
10
 
 

 

RESULTS OF OPERATION

 

As of June 30, 2018, we have accumulated a deficit of $ 95,364. We anticipate that we will continue to incur substantial losses in the next 12 months. Our financial statements have been prepared assuming that we will continue as a going concern. We expect we will require additional capital to meet our long term operating requirements. We expect to raise additional capital through, among other things, the sale of equity or debt securities.

 

Three Month Period Ended June 30, 2018

 

Revenue

 

During the three months ended June 30, 2018, the Company has generated $0 in revenue.

 

Operating Expenses

 

During the three-months period ended June 30, 2018, we incurred total expenses and professional fees of $28,443. General and administrative and professional fee expenses incurred generally related to corporate overhead, financial and administrative contracted services, such as legal and accounting and developmental costs.

 

Our net loss for the three-months period ended June 30, 2018 was $28,443.

 

LIQUIDITY AND CAPITAL RESOURCES

 

As at June 30, 2018 our current assets were $ 0 compared to $ 0 in current assets at December 31, 2017. As at June 30, 2018, our current liabilities were $ 60,262 compared to $ 7,504 as of December 31, 2017.

 

Stockholders’ deficit was $ 7,504 as of December 31, 2017 compared to stockholders’ equity of $ 60,262 as of June 30, 2018.

 

Cash Flows from Operating Activities

 

For the six-months period ended June 30, 2018, net cash flows from operating activities was $ 52,155, consisting of net loss of $ 52,758, decrease in prepaid expenses of $ 0 and increase in accounts payable of $ 603.

 

Cash Flows from Investing Activities

 

We used $ 0 in investing activities during the six-months period ended June 30, 2018.

 

Cash Flows from Financing Activities

 

Cash flows provided by financing activities during the six-months period ended June 30, 2018 were $ 52,155, consisting entirely of loan from shareholder.

 

 
11
 
 

 

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 twelve 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) acquisition of inventory; (ii) developmental expenses associated with a start-up business; and (iii) 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.

 

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 financial statements have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company has incurred a loss since Inception (September 20, 2016) resulting in an accumulated deficit of $ 95,364 as of June 30, 2018 and further losses are anticipated in the development of its business. Accordingly, there is substantial doubt about the Company’s ability to continue as a going concern.

 

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 information required by this Item.

 

ITEM 4. CONTROLS AND PROCEDURES

 

Disclosure Controls and Procedures

 

Our disclosure controls and procedures are designed to ensure that information required to be disclosed in reports that we file or submit under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the Securities and Exchange Commission. Our principal executive officer and principal financial and accounting officer have reviewed the effectiveness of our “disclosure controls and procedures” (as defined in the Securities Exchange Act of 1934 Rules 13(a)-15(e) and 15(d)-15(e)) within the end of the period covered by this Quarterly Report on Form 10-Q and have concluded that the disclosure controls and procedures are effective to ensure that material information relating to the Company is recorded, processed, summarized, and reported in a timely manner.

 

Changes in Internal Controls over Financial Reporting

 

There have been no changes in the Company's internal control over financial reporting during the last quarterly period covered by this report that have materially affected, or are reasonably likely to materially affect, the Company's internal control over financial reporting.

 

 
12
 
 

  

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 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

 

The information required under Item 2 has previously been filed by the Company on our Form 8-K on May 16, 2018.

 

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

 

No senior securities were issued and outstanding during the three-month period ended June 30, 2018.

 

ITEM 4. MINE SAFETY DISCLOSURES

 

Not applicable to our Company.

 

ITEM 5. OTHER INFORMATION

 

None.

 

ITEM 6. EXHIBITS

 

Exhibits:

  

3.1

 

Certificate of Incorporation (1)

 

 

3.2

 

By-laws (1)

 

 

31.1

 

Certification of Chief Executive Officer pursuant to Securities Exchange Act of 1934 Rule 13a-14(a) or 15d-14(a) (2)

 

 

31.2

 

Certification of Chief Financial Officer pursuant to Securities Exchange Act of 1934 Rule 13a-14(a) or 15d-14(a) (2)

 

 

 

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 (2)

 

 

 

32.2

 

Certifications pursuant to Securities Exchange Act of 1934 Rule 13a14(b) or 15d14(b) and 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (3)

 

 

 

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

_____________  

(1)

Filed as an exhibit to the Company's Registration Statement on Form S-1, as filed with the SEC on February 21, 2017 and incorporated herein by this reference.

(2)

Filed herewith.

(3)

Furnished herewith.

 

 
13
 
 

  

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. 

 

ADVECO GROUP INC.

 

 

 

 

Dated: August 14, 2018

By:

/s/ Xuebing Ma

 

 

 

Xuebing Ma
President and Chief Executive Officer and Chief Financial Officer

 

 

 

14

 

EX-31.1 2 advv_ex311.htm CERTIFICATION advv_ex311.htm

EXHIBIT 31.1

 

ADVECO GROUP INC.

OFFICER'S CERTIFICATE PURSUANT TO SECTION 302

 

I, Xuebing Ma, certify that:

 

1. I have reviewed this Form 10-Q of Adveco Group, 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 small business issuer as of, and for, the periods presented in this report;

 

 

4. The small business issuer’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 small business issuer 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 small business issuer, 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 small business issuer'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 small business owner’s other certifying officer and I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the small business issuer's auditors and the audit committee of the small issuer'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 small business issuer'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 small business issuer's internal control over financial reporting.

 

       

Dated: August 14, 2018

By: /s/ Xuebing Ma

 

 

Xuebing Ma

 
   

Chief Executive Officer

 
    (Principal Executive Officer)  

 

EX-31.2 3 advv_ex312.htm CERTIFICATION advv_ex312.htm

EXHIBIT 31.2

 

ADVECO GROUP, INC.

OFFICER'S CERTIFICATE PURSUANT TO SECTION 302

 

I, Xuebing Ma, certify that:

 

1. I have reviewed this Form 10-Q of Adveco Group 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 small business issuer as of, and for, the periods presented in this report;

 

 

4. The small business issuer’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 small business issuer 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 small business issuer, 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 small business issuer'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 small business owner’s other certifying officer and I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the small business issuer's auditors and the audit committee of the small issuer'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 small business issuer'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 small business issuer's internal control over financial reporting.

 
       

Dated: August 14, 2018

By: /s/ Xuebing Ma

 

 

Xuebing Ma

 
   

Chief Financial Officer

 
    (Principal Financial Officer)  

EX-32.1 4 advv_ex321.htm CERTIFICATION advv_ex321.htm

 EXHIBIT 32.1

 

ADVECO GROUP, INC.

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 the Quarterly Report of Adveco Group, Inc. (the Company) on Form 10-Q for the nine months ended June 30, 2018, as filed with the Securities and Exchange Commission on the date hereof (the Report), I, Xuebing Ma, Principal Executive Officer of the Company, certify, pursuant to 18 U.S.C. ss.1350, as adopted pursuant to Section 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 results of operations of the Company.

 

       

Dated: August 14, 2018

By: /s/ Xuebing Ma

 

 

Xuebing Ma

 
   

Chief Executive Officer

 
    (Principal Executive Officer)  

 

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

 

EX-32.2 5 advv_ex322.htm CERTIFICATION advv_ex322.htm

EXHIBIT 32.2

 

ADVECO GROUP, INC.

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 the Quarterly Report of Adveco Group, Inc. (the Company) on Form 10-Q for the nine months ended June 30, 2018, as filed with the Securities and Exchange Commission on the date hereof (the Report), I, Guobao Bai, Principal Financial Officer of the Company, certify, pursuant to 18 U.S.C. ss.1350, as adopted pursuant to Section 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 results of operations of the Company.

  
       

Dated: August 14, 2018

By: /s/ Xuebing Ma

 

 

Xuebing Ma

 
   

Chief Financial Officer

 
    (Principal Financial Officer)  

 

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

 

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Subsequent events Summary Of Significant Accounting Policies Method of accounting Use of estimates Cash and cash equivalents Trade receivables Inventories Plant and equipment Accounting for the impairment of long-lived assets Revenue recognition Income taxes Comprehensive income Earnings per share Financial instruments Commitments and contingencies Summary Of Significant Accounting Policies Plant and equipment estimated useful lives Organization And Principal Activities State of incorporation Date of incorporation Accumulated losses Statement [Table] Statement [Line Items] Property, Plant and Equipment, Useful Life Property, plant and equipment, salvage value percentage Going Concern Net loss Working capital deficit Equity Common stock, par value Common stock, authorized Common stock, Issued Common stock, outstanding Common shares issued for cash at $0.001 per share, shares Common shares issued for cash at $0.001 per share, amount Issuance of common shares at $0.02 per share, Shares Issuance of common shares at $0.02 per share, Amount Additional paid in capital Related Party Transactions Liabilities, Current Liabilities Stockholders' Equity Attributable to Parent Liabilities and Equity Gross Profit Operating Expenses Other Nonoperating Expense Other Nonoperating Income (Expense) Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest Net Cash Provided by (Used in) Operating Activities Payments to Acquire Property, Plant, and Equipment PurchaseOfComputer Net Cash Provided by (Used in) Investing Activities Net Cash Provided by (Used in) Financing Activities Cash and Cash Equivalents, Period Increase (Decrease) Cash and Cash Equivalents, at Carrying Value EX-101.PRE 11 advv-20180630_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE XML 12 R1.htm IDEA: XBRL DOCUMENT v3.10.0.1
Document and Entity Information - shares
6 Months Ended
Jun. 30, 2018
Aug. 14, 2018
Document And Entity Information    
Entity Registrant Name Adveco Group Inc.  
Entity Central Index Key 0001698519  
Document Type 10-Q  
Document Period End Date Jun. 30, 2018  
Amendment Flag false  
Current Fiscal Year End Date --12-31  
Is Entity a Well-known Seasoned Issuer? No  
Is Entity a Voluntary Filer? No  
Is Entity's Reporting Status Current? Yes  
Entity Filer Category Smaller Reporting Company  
Entity Common Stock, Shares Outstanding   6,505,100
Document Fiscal Period Focus Q2  
Document Fiscal Year Focus 2018  
XML 13 R2.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Balance Sheets - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Current liabilities    
Accounts payable and accrued liabilities $ 4,603 $ 4,000
Loan from related parties 55,659 3,504
Total current liabilities 60,262 7,504
Total Liabilities 60,262 7,504
Stockholders' Equity    
Common Stock, $0.001 par value,7,500,000 shares authorized; 6,505,100 shares issued and outstanding as of June 30, 2018 and December 31, 2017, respectively 6,505 6,505
Additional paid-in capital 28,597 28,597
Accumulated deficit (95,364) (42,606)
Total Stockholders' Equity (60,262) (7,504)
Total Liabilities and Stockholders' Equity
XML 14 R3.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Balance Sheets (Parenthetical) - $ / shares
Jun. 30, 2018
Dec. 31, 2017
Stockholders' Equity    
Common Stock, par value $ 0.001 $ 0.001
Common Stock, Authorized 75,000,000 75,000,000
Common Stock, Issued 6,505,100 6,505,100
Common Stock, Outstanding 6,505,100 6,505,100
XML 15 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Unaudited Condensed Statements of Operations and Comprehensive Loss - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Unaudited Condensed Statements Of Operations And Comprehensive Loss        
Net revenues $ 19,097 $ 29,097
Cost of revenues 6,670 13,670
Gross profit 12,427 15,427
Operating expenses:        
General and administrative expenses 28,443 1,882 52,758 2,911
Total operating expenses 28,443 1,882 52,758 2,911
Operating (loss) / profits (28,443) 10,545 (52,758) 12,516
Other income (expenses):        
Other expenses
Total
(Loss) / profit before taxes from continuing operations (28,443) 10,545 (52,758) 12,516
Provision for income taxes
Net (loss) / profit $ (28,443) $ 10,545 $ (52,758) $ 12,516
(Loss) / Profit per common share:        
- Basic and diluted $ (0.00) $ 0.00 $ 0.00 $ 0.00
Basic and diluted weighted average shares outstanding 6,505,100 5,748,763 6,505,100 5,376,450
XML 16 R5.htm IDEA: XBRL DOCUMENT v3.10.0.1
Unaudited Condensed Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities    
Net (loss) / income from continuing operations $ (52,758) $ 12,516
Amortization and depreciation 700
Decrease in prepaid expenses 800
Decrease in deferred revenue   9,928
Increase in accounts payable and accrued liabilities 603 8,000
Net cash provided by operating activities (52,155) 31,944
Cash flows from investing activities    
Purchase of Equipment (24,000)
Purchase of Computer (1,200)
Net cash used in investing activities (25,200)
Cash flows from financing activities    
Proceeds from loan from common stock 30,102
Proceeds from loan from shareholder 52,155 12,000
Net cash provided by financing activities 52,155 42,102
Net increase in cash and cash equivalents 48,846
Cash and cash equivalents beginning of period 749
Cash and cash equivalents end of period 49,595
Supplementary cash flow information:    
Interest paid
Income taxes paid
XML 17 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
Organization and Principal Activities
6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
1. Organization and Principal Activities

Adveco Group Inc. (“the Company”) was incorporated under the laws of the State of Nevada on September 20, 2016. The Company is currently a shell company with no significant asset.

 

Since inception through June 30, 2018, the Company has accumulated losses of $95,364.

XML 18 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
Summary of Significant Accounting Policies
6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
2. Summary of Significant Accounting Policies

Method of accounting

 

Management has prepared the accompanying financial statements and these notes in accordance to generally accepted accounting principles in the United States of America; the Company maintains its general ledger and journals with the accrual method accounting.

 

Use of estimates

 

The preparation of the financial statements 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 periods. Management makes these estimates using the best information available at the time the estimates are made; however, actual results could differ materially from those estimates.

 

Cash and cash equivalents

 

The Company considers all highly liquid investments purchased with original maturities of three months or less to be cash equivalents.

 

Trade receivables

 

Trade receivables are recognized and carried at the original invoice amount less allowance for any uncollectible amounts. An estimate for doubtful accounts is made when collection of the full amount is no longer probable. Bad debts are written off as incurred.

 

Inventories

 

Inventories consist of raw materials and finished goods which are stated at the lower of cost or market value. Finished goods are comprised of direct materials, direct labor, inbound shipping costs, and allocated overhead. The Company applies the weighted average cost method to its inventory.

  

Plant and equipment

 

Plant and equipment are carried at cost less accumulated depreciation. Depreciation is provided over their estimated useful lives, using the straight-line method. The Company’s typically applies a salvage value of 0% to 10%. The estimated useful lives of the plant and equipment are as follows:

 

Computer 3 years
Office equipment 10 years

 

The cost and related accumulated depreciation of assets sold or otherwise retired are eliminated from the accounts, and any gain or loss are included in the Company’s results of operations. The costs of maintenance and repairs are recognized to expenses as incurred; significant renewals and betterments are capitalized.

 

Accounting for the impairment of long-lived assets

 

The Company annually reviews its long-lived assets for impairment or whenever events or changes in circumstances indicate that the carrying amount of assets may not be recoverable. Impairment may be the result of becoming obsolete from a change in the industry, introduction of new technologies, or if the Company has inadequate working capital to utilize the long-lived assets to generate the adequate profits. Impairment is present if the carrying amount of an asset is less than its expected future undiscounted cash flows.

 

If an asset is considered impaired, a loss is recognized based on the amount by which the carrying amount exceeds the fair market value of the asset. Assets to be disposed are reported at the lower of the carrying amount or fair value less costs to sell.

 

Revenue recognition

 

The Company will recognize revenue when products are fully delivered or services have been provided and collection is reasonably assured.

 

Income taxes

 

The Company accounts for income tax using an asset and liability approach and allows for recognition of deferred tax benefits in future years. Under the asset and liability approach, deferred taxes are provided for the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. A valuation allowance is provided for deferred tax assets if it is more likely than not these items will either expire before the Company is able to realize their benefits, or that future realization is uncertain.

 

Comprehensive income

 

The Company uses FASB ASC Topic 220, “Reporting Comprehensive Income”. Comprehensive income is comprised of net income and all changes to the statements of stockholders’ equity, except the changes in paid-in capital and distributions to stockholders due to investments by stockholders.

 

Earnings per share

 

The Company computes earnings per share (“EPS”) in accordance with ASC Topic 260, “Earnings per share”. Basic EPS is measured as the income or loss available to common shareholders divided by the weighted average common shares outstanding for the period. Diluted EPS presents the dilutive effect on a per share basis from the potential conversion of convertible securities or the exercise of options and or warrants; the dilutive effects of potentially convertible securities are calculated using the as-if method; the potentially dilutive effect of options or warrants are calculated using the treasury stock method. Securities that are potentially an anti-dilutive effect (i.e. those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS.

  

Financial instruments

 

The Company’s financial instruments, including cash and equivalents, accounts and other receivables, accounts and other payables, accrued liabilities and short-term debt, have carrying amounts that approximate their fair values due to their short maturities. ASC Topic 820, “Fair Value Measurements and Disclosures,” requires disclosure of the fair value of financial instruments held by the Company. ASC Topic 825, “Financial Instruments,” defines fair value, and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. The carrying amounts reported in the balance sheets for receivables and current liabilities each qualify as financial instruments and are a reasonable estimate of their fair values because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. The three levels of valuation hierarchy are defined as follows:

 

  · Level 1 - inputs to the valuation methodology used quoted prices for identical assets or liabilities in active markets.
  · Level 2 - inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.
  · Level 3 - inputs to the valuation methodology are unobservable and significant to the fair value measurement.

 

The Company analyzes all financial instruments with features of both liabilities and equity under ASC 480, “Distinguishing Liabilities from Equity,” and ASC 815.

 

Commitments and contingencies

 

Liabilities for loss contingencies arising from claims, assessments, litigation, fines and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated.

 

XML 19 R8.htm IDEA: XBRL DOCUMENT v3.10.0.1
Going Concern
6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
3. Going Concern

The accompanying financial statements have been prepared on a going-concern basis. The going-concern basis assumes that assets will be realized and liabilities will be settled in the ordinary course of business in the amounts disclosed in the financial statements. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they become due. For the six months ended June 30, 2018, the Company incurred a loss of $52,758. As of June 30, 2018, the Company had a working capital deficit of approximately $60,262. These conditions raise substantial doubt as to whether the Company may continue as a going concern.

 

To improve its solvency, the Company is working to obtain new working capital through private placements of its common stock or convertible debt securities to qualified investors.

XML 20 R9.htm IDEA: XBRL DOCUMENT v3.10.0.1
Equity
6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
4. Equity

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

 

On December 19, 2016, the Company issued 5,000,000 shares of its common stock at $0.001 per share for total proceeds of $5,000.

 

In 2017, the Company sold 1,505,100 shares of its common stock at $0.02 per share for total proceeds of $30,102.

 

As of June 30, 2018, the Company had 6,505,100 shares issued and outstanding. The additional paid in capital was $28,597.

XML 21 R10.htm IDEA: XBRL DOCUMENT v3.10.0.1
Related Party Transactions
6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
5. 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 September 20, 2016 (date of inception) through June 30, 2018 the Company’s sole officer and director loaned the Company to pay for operating expenses and purchase of equipment. As of June 30, 2018, the amount outstanding was $55,659. The loan is non-interest bearing, due upon demand and unsecured.

XML 22 R11.htm IDEA: XBRL DOCUMENT v3.10.0.1
Contingencies
6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
6. Contingencies

The Company may from time to time be subject to legal proceedings and claims that may arise in the ordinary course of its business. There are no legal matters pending at the present date.

XML 23 R12.htm IDEA: XBRL DOCUMENT v3.10.0.1
Subsequent events
6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
7. Subsequent events

In accordance with ASC 855-10, Company management reviewed all material events through the date of this report and determined that there are no material subsequent events to report.

 

XML 24 R13.htm IDEA: XBRL DOCUMENT v3.10.0.1
Summary of Significant Accounting Policies (Policies)
6 Months Ended
Jun. 30, 2018
Summary Of Significant Accounting Policies  
Method of accounting

Management has prepared the accompanying financial statements and these notes in accordance to generally accepted accounting principles in the United States of America; the Company maintains its general ledger and journals with the accrual method accounting.

Use of estimates

The preparation of the financial statements 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 periods. Management makes these estimates using the best information available at the time the estimates are made; however, actual results could differ materially from those estimates.

Cash and cash equivalents

The Company considers all highly liquid investments purchased with original maturities of three months or less to be cash equivalents.

Trade receivables

Trade receivables are recognized and carried at the original invoice amount less allowance for any uncollectible amounts. An estimate for doubtful accounts is made when collection of the full amount is no longer probable. Bad debts are written off as incurred.

Inventories

Inventories consist of raw materials and finished goods which are stated at the lower of cost or market value. Finished goods are comprised of direct materials, direct labor, inbound shipping costs, and allocated overhead. The Company applies the weighted average cost method to its inventory. 

Plant and equipment

Plant and equipment are carried at cost less accumulated depreciation. Depreciation is provided over their estimated useful lives, using the straight-line method. The Company’s typically applies a salvage value of 0% to 10%. The estimated useful lives of the plant and equipment are as follows:

 

Computer 3 years
Office equipment 10 years

 

The cost and related accumulated depreciation of assets sold or otherwise retired are eliminated from the accounts, and any gain or loss are included in the Company’s results of operations. The costs of maintenance and repairs are recognized to expenses as incurred; significant renewals and betterments are capitalized.

Accounting for the impairment of long-lived assets

The Company annually reviews its long-lived assets for impairment or whenever events or changes in circumstances indicate that the carrying amount of assets may not be recoverable. Impairment may be the result of becoming obsolete from a change in the industry, introduction of new technologies, or if the Company has inadequate working capital to utilize the long-lived assets to generate the adequate profits. Impairment is present if the carrying amount of an asset is less than its expected future undiscounted cash flows.

 

If an asset is considered impaired, a loss is recognized based on the amount by which the carrying amount exceeds the fair market value of the asset. Assets to be disposed are reported at the lower of the carrying amount or fair value less costs to sell.

Revenue recognition

The Company will recognize revenue when products are fully delivered or services have been provided and collection is reasonably assured.

Income taxes

The Company accounts for income tax using an asset and liability approach and allows for recognition of deferred tax benefits in future years. Under the asset and liability approach, deferred taxes are provided for the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. A valuation allowance is provided for deferred tax assets if it is more likely than not these items will either expire before the Company is able to realize their benefits, or that future realization is uncertain.

Comprehensive income

The Company uses FASB ASC Topic 220, “Reporting Comprehensive Income”. Comprehensive income is comprised of net income and all changes to the statements of stockholders’ equity, except the changes in paid-in capital and distributions to stockholders due to investments by stockholders.

Earnings per share

The Company computes earnings per share (“EPS”) in accordance with ASC Topic 260, “Earnings per share”. Basic EPS is measured as the income or loss available to common shareholders divided by the weighted average common shares outstanding for the period. Diluted EPS presents the dilutive effect on a per share basis from the potential conversion of convertible securities or the exercise of options and or warrants; the dilutive effects of potentially convertible securities are calculated using the as-if method; the potentially dilutive effect of options or warrants are calculated using the treasury stock method. Securities that are potentially an anti-dilutive effect (i.e. those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS. 

Financial instruments

The Company’s financial instruments, including cash and equivalents, accounts and other receivables, accounts and other payables, accrued liabilities and short-term debt, have carrying amounts that approximate their fair values due to their short maturities. ASC Topic 820, “Fair Value Measurements and Disclosures,” requires disclosure of the fair value of financial instruments held by the Company. ASC Topic 825, “Financial Instruments,” defines fair value, and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. The carrying amounts reported in the balance sheets for receivables and current liabilities each qualify as financial instruments and are a reasonable estimate of their fair values because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. The three levels of valuation hierarchy are defined as follows:

 

  · Level 1 - inputs to the valuation methodology used quoted prices for identical assets or liabilities in active markets.
  · Level 2 - inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.
  · Level 3 - inputs to the valuation methodology are unobservable and significant to the fair value measurement.

 

The Company analyzes all financial instruments with features of both liabilities and equity under ASC 480, “Distinguishing Liabilities from Equity,” and ASC 815.

Commitments and contingencies

Liabilities for loss contingencies arising from claims, assessments, litigation, fines and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated.

XML 25 R14.htm IDEA: XBRL DOCUMENT v3.10.0.1
Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2018
Summary Of Significant Accounting Policies Tables Abstract  
Plant and equipment estimated useful lives

Computer 3 years
Office equipment 10 years

XML 26 R15.htm IDEA: XBRL DOCUMENT v3.10.0.1
Organization and Principal Activities (Details Narrative) - USD ($)
3 Months Ended 6 Months Ended 30 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Organization And Principal Activities          
State of incorporation     Nevada    
Date of incorporation     Sep. 20, 2016    
Accumulated losses $ (28,443) $ 10,545 $ (52,758) $ 12,516 $ (95,364)
XML 27 R16.htm IDEA: XBRL DOCUMENT v3.10.0.1
Summary of Significant Accounting Policies (Details)
6 Months Ended
Jun. 30, 2018
Computer [Member]  
Property, Plant and Equipment, Useful Life 3 years
Office equipment [Member]  
Property, Plant and Equipment, Useful Life 10 years
XML 28 R17.htm IDEA: XBRL DOCUMENT v3.10.0.1
Summary of Significant Accounting Policies (Details Narrative)
Jun. 30, 2018
Minimum [Member]  
Property, plant and equipment, salvage value percentage 0.00%
Maximum [Member]  
Property, plant and equipment, salvage value percentage 10.00%
XML 29 R18.htm IDEA: XBRL DOCUMENT v3.10.0.1
Going Concern (Details Narrative) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Going Concern        
Net loss $ (28,443) $ 10,545 $ (52,758) $ 12,516
Working capital deficit $ (60,262)   $ (60,262)  
XML 30 R19.htm IDEA: XBRL DOCUMENT v3.10.0.1
Equity (Details Narrative) - USD ($)
1 Months Ended 12 Months Ended
Dec. 19, 2016
Dec. 31, 2017
Jun. 30, 2018
Equity      
Common stock, par value   $ 0.001 $ 0.001
Common stock, authorized   75,000,000 75,000,000
Common stock, Issued   6,505,100 6,505,100
Common stock, outstanding   6,505,100 6,505,100
Common shares issued for cash at $0.001 per share, shares 5,000,000    
Common shares issued for cash at $0.001 per share, amount $ 5,000    
Issuance of common shares at $0.02 per share, Shares   1,505,100  
Issuance of common shares at $0.02 per share, Amount   $ 30,102  
Additional paid in capital   $ 28,597 $ 28,597
XML 31 R20.htm IDEA: XBRL DOCUMENT v3.10.0.1
Related Party Transactions (Details Narrative) - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Related Party Transactions    
Loan from related parties $ 55,659 $ 3,504
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