10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

(Mark One)

x QUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

For Quarterly Period Ended September 30, 2019

or

¨ TRANSITION REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Transition period from _______________ to ______________

Commission File Number: 333-222083

REGNUM CORP.

(Exact name of registrant as specified in its charter)

 

NEVADA	82-0832447
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

1541 Ocean Avenue

Santa Monica, CA 90401

(Address of principal executive offices) (Zip Code)

(310) 881-6954

Registrant's telephone number, including area code

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

 

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 proceeding 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 every Interactive Data File required to be submitted 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 such files). Yes x No ¨

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

Large accelerated filer	¨	Accelerated filer	¨
Non-accelerated filer	¨	Smaller reporting company	x
		Emerging growth company	x

If an emerging growth company, indicate by the 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. o

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ¨ No x

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

As of September 30, 2019, the number of shares outstanding of the registrant’s class of common stock was 22,950,000. 

TABLE OF CONTENTS

		Pages
PART I. FINANCIAL INFORMATION		3
Item 1.	Financial Statements	3
	Condensed Balance Sheets as of September 30, 2019 (unaudited) and December 31, 2018	F-1
	Condensed Statements of Operations for the three and nine-month periods ended September 30, 2019 and 2018 (unaudited)	F-2
	Condensed Statements of Stockholders’ Equity as of September 30, 2019 and 2018 (unaudited)	F-3
	Condensed Statements of Cash Flows for the nine-month periods ended September 30, 2019 and 2018 (unaudited)	F-4
	Notes to Financial Statements	F-6
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	4
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	7
Item 4.	Controls and Procedures	7
PART II. OTHER INFORMATION		9
Item 1.	Legal Proceedings	9
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	9
Item 3.	Defaults Upon Senior Securities	9
Item 4.	Mine Safety Disclosures	9
Item 5.	Other Information	9
Item 6.	Exhibits	10
SIGNATURES		11

2

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

REGNUM CORP.

FINANCIAL STATEMENTS

Period Ended September 30, 2019

TABLE OF CONTENTS 

FINANCIAL STATEMENTS:
Balance Sheets	F-1
Statements of Operations	F-2
Statements of Stockholders’ Equity	F-3
Statements of Cash Flows	F-4
Notes to Financial Statements	F-5

3

REGNUM CORP

Balance Sheet

	September 30,			December 31,
	2019			2018
	(Unaudited)
ASSETS
CURRENT ASSETS
Cash	$	13,322		$	47,295
Prepaid expenses		-			-
Total Current Assets		13,322			47,295
OTHER ASSETS
Intangible assets	$	1,119		$	400
Total Other Assets		1,119			400
TOTAL ASSETS	$	14,441		$	47,695
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accrued taxes payable	$	-		$	2,310
Account payable - related party		1,325			1,325
Total Current Liabilities		1,325			3,635
TOTAL LIABILITIES		1,325			3,635
STOCKHOLDERS' EQUITY
Preferred stock: $0.001 par value, 5,000,000 shares authorized, 0 issued and outstanding		-			-
Common stock: $0.001 par value, 80,000,000 shares authorized, 22,950,000 and 22,950,000 shares issued and outstanding, respectively		22,950			22,950
Additional paid-in capital		18,550			18,550
Retained earnings (accumulated deficit)		(28,384	)		2,560
Total Stockholders' Equity		13,116			44,060
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY	$	14,441		$	47,695

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

F-1

REGNUM CORP

Statements of Operations

(Unaudited)

 

	For the Three Months Ended				For the Nine Months Ended
	September 30,				September 30,
	2019		2018		2019			2018
REVENUES	$	2,500	$	3,500	$	5,300		$	17,000
OPERATING EXPENSES
Amortization of intangible assets		167		115		281			486
Legal and professional fees		1,500		1,000		33,225			7,350
General and administrative		745		2,136		2,738			5,738
Total Operating Expenses		2,412		3,251		36,244			13,574
INCOME (LOSS) FROM OPERATIONS		88		249		(30,944	)		3,426
OTHER EXPENSES		-		-		-			-
INCOME (LOSS) BEFORE TAXES		88		249		(30,944	)		3,426
INCOME TAX EXPENSE		-		102		-			1,236
NET INCOME (LOSS)		88		147		(30,944	)		2,190
BASIC AND DILUTED INCOME (LOSS) PER COMMON SHARE	$	0.00	$	0.00	$	(0.00	)	$	0.00
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING		22,950,000		21,535,326		22,950,000			20,517,399

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

F-2

REGNUM CORP
Statements of Stockholders' Equity (Deficit)
(Unaudited)
								Retained
					Additional			Earnings			Total
	Common Stock				Paid-In			(Accumulated			Stockholders'
	Shares		Amount		Capital			Deficit)			Equity
Balance, December 31, 2018		22,950,000	$	22,950	$	18,550		$	2,560		$	44,060
Net loss		-		-		-			(23,610	)		(23,610	)
Balance, March 31, 2019		22,950,000		22,950		18,550			(21,050	)		20,450
Net loss		-		-		-			(7,422	)		(7,422	)
Balance, June 30, 2019		22,950,000		22,950		18,550			(28,472	)		13,028
Net income		-		-		-			88			88
Balance, September 30, 2019		22,950,000	$	22,950	$	18,550		$	(28,384	)	$	13,116
Balance, December 31, 2017		20,000,000	$	20,000	$	(8,000	)	$	562		$	12,562
Net income		-		-		-			1,258			1,258
Balance, March 31, 2018		20,000,000		20,000		(8,000	)		1,820			13,820
Net income		-		-		-			785			785
Balance, June 30, 2018		20,000,000		20,000		(8,000	)		2,605			14,605
Net income		-		-		-			147			147
Balance, September 30, 2018		20,000,000	$	20,000	$	(8,000	)	$	2,752		$	14,752

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

F-3

  

REGNUM CORP

Consolidated Statements of Cash Flows

(Unaudited)

	For the Nine Months Ended
	September 30,
	2019			2018
OPERATING ACTIVITIES
Net income (loss)	$	(30,944	)	$	2,190
Adjustments to reconcile net loss to net cash provided by operating activities:
Expenses paid on the Company's behalf by a related-party		-			-
Amortization of intangible assets		281			486
Changes in operating assets and liabilities:
Accrued taxes payable		(2,310	)		1,236
Account payable - related party		-			-
Net Cash Provided By Operating Activities		(32,973	)		3,912
INVESTING ACTIVITIES
Purchase of intangible assets		(1,000	)		(800	)
Net Cash Used in Investing Activities		(1,000	)		(800	)
FINANCING ACTIVITIES
Common stock issued for cash		-			29,500
Net Cash Provided by Financing Activities		-			29,500
NET INCREASE IN CASH		(33,973	)		32,612
CASH AT BEGINNING OF PERIOD		47,295			14,550
CASH AT END OF PERIOD	$	13,322		$	47,162

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

 

F-4

REGNUM CORP

Notes to Unaudited Condensed Financial Statements

September 30, 2019

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The accompanying financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at September 30, 2019, and for all periods presented herein, have been made.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company's December 31, 2018 financial statements. The results of operations for the periods ended September 30, 2019 and 2018 are not necessarily indicative of the operating results for the full year.

Nature of Business

Regnum, Inc. (“The Company”) was organized on March 31, 2016, under the laws of the State of Nevada. The Company has commenced principal operations as of the balance sheet date.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

Basic Loss per Common Share

Basic loss per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company’s net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are 80,000,000 common stock shares authorized at $0.001 par value and 22,950,000 shares of common stock outstanding as of September 30, 2019. The Company had no potential dilutive shares of common stock as of September 30, 2019.

Accounting Basis

The basis is accounting principles generally accepted in the United States of America. The Company has adopted a December 31 fiscal year-end.

Cash and Cash Equivalents

Cash and cash equivalents include cash in banks and financial instruments which mature within three months of the date of purchase.

Revenue Recognition  

Revenues from the sale of intellectual property are recognized when persuasive evidence of an arrangement exists, the intellectual property has been delivered or is made available for delivery, the customer can begin the use of the intellectual property, the fee is fixed or determinable and collectability is reasonably assured, which is generally upon execution of a purchase agreement and delivery of the intellectual property.

Intangible Assets

The Company capitalizes the costs of acquiring intellectual property. The Company amortizes these costs over the costs in the same expected ratio as the associated ultimate revenue.

Impairment of Long-Lived Assets

The Company reviews and evaluates long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amounts may not be recoverable. The assets are subject to impairment consideration under ASC 360-10-35-17 if events or circumstances indicate that their carrying amounts might not be recoverable. When the Company determines that an impairment analysis should be done, the analysis will be performed using rules of ASC 930-360-35, Asset Impairment, and 360-10-15-3 through 15-5, Impairment or Disposal of Long-Lived Assets.

 

F-5

REGNUM CORP

Notes to Unaudited Condensed Financial Statements

September 30, 2019

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Income Taxes

The Company provides for income taxes under ASC 740, Accounting for Income Taxes. ASC 740 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect when these differences are expected to reverse.

ASC 740 requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized.

If applicable, the Company would classify interest and penalties related to uncertain tax positions in income tax expense. Through March 31, 2019, there has been no interest expense or penalties related to unrecognized tax benefits.

Recent Accounting Pronouncements

In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842), which amends the existing accounting standards for leases. The new standard requires lessees to record a right-of-use (“ROU”) asset and a corresponding lease liability on the balance sheet (with the exception of short-term leases). This new standard is effective for annual reporting periods beginning after December 15, 2018, and interim reporting periods within those annual reporting periods, with early adoption permitted. We adopted this new standard effective January 1, 2019. Adoption did not have any effect on the Company. 

Management has considered all recent accounting pronouncements issued since the last audit of the Company’s financial statements. The Company’s management believes that these recent pronouncements will not have a material effect on the Company’s financial statements.

2.  GOING CONCERN

The Company's financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has a limited operating history and has not yet established strong liquidity or a reliable ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern over an extended period of time. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until its operations become established enough to be considered reliably profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations.

In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses The Company intends to position itself so that it may be able to raise additional funds through the capital markets. In light of management’s efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern.

The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

3. STOCKHOLDERS’ EQUITY

As of September 30, 2019, the Company has authorized 80,000,000 shares of $0.001 par value common stock, of which 22,950,000 shares are issued and outstanding.

As of September 30, 2019, the Company has authorized 5,000,000 shares of $0.001 par value preferred stock, of which none are issued and outstanding.

 

F-6

REGNUM CORP

Notes to Unaudited Condensed Financial Statements

September 30, 2019

4. RELATED PARTY TRANSACTIONS

As of September 30, 2019, the Company is indebted to Company officers and entities controlled by officers for services, periodic advances to the Company and expenses paid for on the Company’s behalf. At September 30, 2019, these transactions totaled $1,325. The advances are no-interest-bearing, and are due on demand.

5.  INCOME TAXES

Income tax expense consists of the following:

	September 30,
	2019		2018
Federal	$	-	$	636
State		-		600
Total	$	-	$	1,236

Income tax expense differed from the amounts computed by applying the U.S. federal statutory tax rate applicable to the Company’s level of pretax income as a result of the following:

	September 30,
	2019		2018
Federal tax at statutory rate	$	-	$	740
State taxes, net of federal benefit		-		(104	)
Net operating loss carryforward	$	-	$	636

6.  CONCENTRATION

For the nine months ended September 30, 2019, revenues consisted of sales to four customers.

7.  SUBSEQUENT EVENTS

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

 

F-7

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

Cautionary Statements

This Form 10-Q may contain "forward-looking statements," as that term is used in federal securities laws, about Regnum Corp.'s financial condition, results of operations and business. These statements include, among others:

o statements concerning the potential benefits that Regnum Corp. (“Regnum”, “we”. “our”, “us”, the “Company”, “management”) may experience from its business activities and certain transactions it contemplates or has completed; and

o statements of Regnum’s expectations, beliefs, future plans and strategies, anticipated developments and other matters that are not historical facts. These statements may be made expressly in this Form 10-Q. You can find many of these statements by looking for words such as "believes," "expects," "anticipates," "estimates," "opines," or similar expressions used in this Form 10-Q. These forward-looking statements are subject to numerous assumptions, risks and uncertainties that may cause Regnum’s actual results to be materially different from any future results expressed or implied by Regnum in those statements. The most important facts that could prevent Regnum from achieving its stated goals include, but are not limited to, the following:

(a)	volatility or decline of Regnum’s stock price;
(b)	potential fluctuation of quarterly results;
(c)	failure of Regnum to earn revenues or profits;
(d)	inadequate capital to continue or expand its business, and inability to raise additional capital or financing to implement its business plans;
(e)	decline in demand for Regnum’s products and services;
(f)	rapid adverse changes in markets;
(g)	litigation with or legal claims and allegations by outside parties against Regnum, including but not limited to challenges to Regnum’s intellectual property rights;
(h)	insufficient revenues to cover operating costs;

There is no assurance that Regnum will be profitable, Regnum may not be able to successfully develop, manage or market its products and services, Regnum may not be able to attract or retain qualified executives and personnel, Regnum may not be able to obtain customers for its products or services, additional dilution in outstanding stock ownership may be incurred due to the issuance of more shares, warrants and stock options, or the exercise of outstanding warrants and stock options, and other risks inherent in Regnum’s businesses.

4

Because the statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by the forward-looking statements. Regnum cautions you not to place undue reliance on the statements, which speak only as of the date of this Form 10-Q. The cautionary statements contained or referred to in this section should be considered in connection with any subsequent written or oral forward-looking statements that Regnum or persons acting on its behalf may issue. Regnum does not undertake any obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date of this Form 10-Q, or to reflect the occurrence of unanticipated events.

Current Overview

We are an emerging growth company under the JOBS Act. We shall continue to be deemed an emerging growth company until the earliest of:

1.	The last day of the fiscal year of the issuer during which it had total annual gross revenues of $1,070,000,000 (as such amount is indexed for inflation every 5 years by the Commission to reflect the change in the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics, setting the threshold to the nearest 1,070,000) or more;
2.	The last day of the fiscal year of the issuer following the fifth anniversary of the date of the first sale of common equity securities of the issuer pursuant to an effective IPO registration statement;
3.	The date on which such issuer has, during the previous 3-year period, issued more than $1,000,000,000 in non-convertible debt; or
4.	The date on which such issuer is deemed to be a ‘large accelerated filer’, as defined in section 240.12b-2 of title 46, Code of Federal Regulations, or any successor thereto.

As an emerging growth company, we are exempt from Section 404(b) of Sarbanes Oxley. Section 404(a) requires issuers to publish information in their annual reports concerning the scope and adequacy of the internal control structure and procedures for financial reporting. This statement shall also assess the effectiveness of such internal controls and procedures. Section 404(b) requires that the registered accounting firm shall, in the same report, attest to and report on the assessment and the effectiveness of the internal control structure and procedures for financial reporting.

As an emerging growth company, we are also exempt from Section 14A (a) and (b) of the Securities Exchange Act of 1934, which require the shareholder approval of executive compensation and golden parachutes. These exemptions are also available to us as a Smaller Reporting Company.

We have elected to use the extended transition period for complying with new or revised accounting standards under Section 102(b)(2) of the Jobs Act, that allows us to delay the adoption of new or revised accounting standards that have different effective dates for public and private companies until those standards apply to private companies. As a result of this election, our financial statements may not be comparable to companies that comply with public company effective dates.

Regnum Corp. was organized on March 31, 2016 under the laws of the State of Nevada. We were formed for a primary business purpose of servicing the increasing demand for premium entertainment content and becoming a depository of unpublished intellectual properties for resale with focus on achieving profitability and sustaining business growth. Our business model is based on acquiring unproduced and unpublished quality intellectual properties at a discount from studios, agencies and production companies for subsequent recycling or production in wide variety of media with the intent to resell back to the entertainment community for a profit. Regnum believes such an approach gives the Company an advantage over bigger studios that are competing for fresh scripts from writers who are in demand.

5

Since its inception, Regnum has acquired three bundles of various scripts and manuscripts from an independent production company and a producer at a deep discount for a total amount of $2,300 total, 21 of which were recycled and subsequently optioned off/sold for a total of $44,800. We will continue to follow our business plan to service the increasing demand for premium entertainment content by acquiring unproduced and unpublished quality intellectual properties at a discount for subsequent recycling and reselling back to the entertainment community for a profit, and hope to realize revenue in the future, however, we can provide no guarantees that we will be successful.

Currently, Regnum has secured all the resources and skills needed to acquire, recycle and market our products by utilizing our sole officer and director’s skills and experience in the fields of advertising and marketing, as well as entertainment. It is anticipated that, as the Company grows and develops over the next twelve months, its management team will be expanded from its current one member to consist of additional members who have expertise in the film and television entertainment industry, as well as entrepreneurial experience. The main goal of the Company is to become a self-sustained and profitable operational entity with the aim of future business growth. To generate revenues, Regnum will strategize to implement a viable business model, select a target market, develop marketing and future growth strategies and address competition. It is essential for our success to take up an appropriate niche in the entertainment market and fill the unsatisfied demand.

The Company is quoted on the OTC Markets under the symbol “RGMP.”

Critical Accounting Policies

Our discussion and analysis of our financial condition and results of operations are based upon our financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America. The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. We monitor our estimates on an on-going basis for changes in facts and circumstances, and material changes in these estimates could occur in the future. Changes in estimates are recorded in the period in which they become known. We base our estimates on historical experience and other assumptions that we believe to be reasonable under the circumstances. Actual results may differ from our estimates if past experience or other assumptions do not turn out to be substantially accurate.

Certain of our accounting policies are particularly important to the portrayal and understanding of our financial position and results of operations and require us to apply significant judgment in their application. As a result, these policies are subject to an inherent degree of uncertainty. In applying these policies, we use our judgment in making certain assumption and estimates. Our critical accounting policies are outlined in Note 1 in the Notes to the Financial Statements

Results of Operations for the Three Months Ended September 30, 2019 compared to the Three Months ended September 30, 2018.

We had $2,500 in revenues for the three months ended September 30, 2019 and $3,500 for the three months ended September 30, 2018. Our revenue change is a result of the normal timing of the completion of scripts, with less scripts completed in the third quarter of 2019 versus the third quarter of 2018. We anticipate a continued trend of intellectual properties sales revenue as we continue to acquire and recycle them for resale. Our operating expenses for the three months ended September 30, 2019 were $2,412, which consisted of amortization of intangible assets of $167, legal and professional fees of $1,500 and general and administrative expenses of $745. For the three months ended September 30, 2018, our operating expenses were $3,251 which consisted of amortization of intangible assets of $115, legal and professional fees of $1,000 and general and administrative expenses of $2,136. Our operating expenses are primarily due to normal business operations. Our net income for the three months ended September 30, 2019 was $88 Our net income for the three months ended September 30, 2018 was $147. The decrease in net income is primarily due to the decrease in sales.

6

Results of Operations for the Nine Months Ended September 30, 2019 compared to the Nine Months ended September 30, 2018.

We had $5,300 in revenues for the nine months ended September 30, 2019 and $17,000 for the nine months ended September 30, 2018. Our revenue change is a result of the normal timing of the completion of scripts, with less scripts completed in the nine-month period ended September 30, 2019 versus the nine-month period ended September 30, 2018. We anticipate a continued trend of intellectual properties sales revenue as we continue to acquire and recycle them for resale. Our operating expenses for the nine months ended September 30, 2019 were $36,244, which consisted of amortization of intangible assets of $281, legal and professional fees of $33,225 and general and administrative expenses of $2,738. For the nine months ended September 30, 2018, our operating expenses were $13,574 which consisted amortization of intangible assets of $486, legal and professional fees of $7,350 and general and administrative expenses of $5,738. Our operating expenses are primarily due to normal business operations and increased due to professional fees incurred in listing the Company’s stock. Our net income (loss) for the nine months ended September 30, 2019 was ($30,944). Our net income for the nine months ended September 30, 2018 was $2,190. The decrease in net income (loss) is primarily due to the decrease in sales of recycled intellectual properties and professional fees incurred in listing the Company’s stock.

Liquidity and Capital Resources

The Company's cash position was $13,322 at September 30, 2019, compared to $47,295 at December 31, 2018. As of September 30, 2019, the Company had current assets of $13,322 and current liabilities of $1,325 compared to $47,295 and $3,635, respectively, as of December 31, 2018. This resulted in a working capital of $11,997 at September 30, 2019 and $43,660 at December 31, 2018.

Net cash used in operating activities amounted to ($32,973) and $3,912 for the nine months ended September 30, 2019 and 2018, respectively. This is primarily due to a net income (loss) of ($30,944) and $2,190 respectively.

Net cash used in investing activities amounted to $1,000 and $800 for the nine months ended September 30, 2019 and 2018.

Net cash provided by financing activities amounted to $0 and $29,500 for the nine months ended September 30, 2019 and 2018, respectively.

The Company does not have sufficient capital to meet its current cash needs, which include the costs of compliance with the continuing reporting requirements of the Securities Exchange Act of 1934, as amended. The Company intends to seek additional capital through the resale of the acquired intellectual properties. Financing options may be available to the Company either via a private placement or through the public sale of stock. There is no assurance, however, that the available funds will be available or adequate. Its need for additional financing is likely to persist.

Off-Balance Sheet Arrangements

We have no off-balance sheet arrangements.

Item 3. Quantitative and Qualitative Disclosures about Market Risk

Not Applicable.

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

Disclosure controls and procedures are controls and other procedures that are designed to ensure that information we are required to disclose is recorded, processed, summarized and reported, within the time periods specified in the rules and forms of the Commission. Tiffani Jones, our President and our Principal Accounting Officer, is responsible for establishing and maintaining our disclosure controls and procedures.

7

Under the supervision and with the participation of our management, including the President and Principal Accounting Officer, we have evaluated the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) and Rule 15d-15(e) of the Exchange Act) as of the end of the period covered by this report.  Based on that evaluation, the President and Principal Accounting Officer has concluded that, as of September 30, 2019, these disclosure controls and procedures were not effective in ensuring that all information required to  be disclosed by us in the reports that we file or submit under the Exchange Act is: (i) recorded, processed, summarized and reported, within the time periods specified in the Commission’s rule and forms; and (ii) accumulated and communicated to our management, including our President and Principal Accounting Officer, as appropriate to allow timely decisions regarding required disclosure. 

The term “internal control over financial reporting” is defined as a process designed by, or under the supervision of, the registrant’s principal executive and principal financial officers, or persons performing similar functions, and effected by the registrant’s board of directors, management and other personnel, 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 and includes those policies and procedures that:

¨ pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the registrant;

¨ provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the registrant are being made only in accordance with authorizations of management and directors of the registrant; and

¨ provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the registrant’s assets that could have a material effect on the financial statements.

Changes in Internal Controls over Financial Reporting

There were no additional changes in our internal control over financial reporting that occurred during the fiscal quarter ended September 30, 2019 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

Inherent Limitations over Internal Controls

Regnum’s management does not expect that its disclosure controls or its internal control over financial reporting will prevent or detect all error and all fraud.  A control system, no matter how well designed and operated, can provide only reasonable, not absolute, assurance that the control system’s objectives will be met. The design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs.  Further, because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that misstatements due to error or fraud will not occur or that all control issues and instances of fraud, if any, within Regnum have been detected.  These inherent limitations include the realities that judgments in decision making can be faulty and that breakdowns can occur because of simple error or mistake. Controls can also be circumvented by the individual acts of some persons, by collusion of two or more people, or management override of the controls.  The design of any system of controls is based in part on certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions. Projections of any evaluation of controls effectiveness to future periods are subject to risks.  Over time, controls may become inadequate because of changes in conditions or deterioration in the degree of compliance with policies or procedures.

Our disclosure controls and procedures are designed to provide reasonable assurance of that our reports will be accurate. Our President and Principal Accounting Officer concludes that our disclosure controls and procedures were effective at that reasonable assurance level, as of the end of the period covered by this Form 10-Q.  Our future reports shall also indicate that our disclosure controls and procedures are designed for this reason and shall indicate the related conclusion by the President and Principal Accounting Officer as to their effectiveness.

8

PART II. OTHER INFORMATION

Item 1. Legal Proceedings

We are not a party to any material or legal proceeding and, to our knowledge, none is contemplated or threatened.

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

None.

Item 3. Defaults Upon Senior Securities

.

There have been no defaults upon senior securities.

Item 4. Mine Safety Disclosures

None.

Item 5. Other Information

Not Applicable 

 

9

Item 6. Exhibits

(a) Exhibits

Exhibit No.	Document Description
3.1	Articles of Incorporation of Regnum Corp. (1)
3.2	Bylaws of Regnum Corp. (1)
10.1	Literary Purchase Agreement dated August 20, 2019 between Regnum Corp and Christ Witter (2)
10.2	Literary Purchase Agreement dated September 24, 2019 between Regnum Corp and Marissa Carroll (3)
31.1	Section 302 Certification of President
31.2	Section 302 Certification of Chief Financial Officer
32.1	Section 906 Certification of President
32.2	Section 906 Certification of Chief Financial Officer
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Extension Calculation Linkbase
101.DEF	XBRL Taxonomy Extension Definition Linkbase
101.LAB	XBRL Taxonomy Extension Label Linkbase
101.PRE	XBRL Taxonomy Extension Presentation Linkbase

_____________

(1) Filed as an exhibit to the Company’s Registration Statement on Form S-1, and filed on December 15, 2017. 

(2) Filed as an Exhibit to the Form 8-K, filed on August 22, 2019 and incorporated herein by reference.

(3) Filed as an Exhibit to the Form 8-K, filed on September 25, 2019 and incorporated herein by reference.

10

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Dated: November 5, 2019	By:	/s/ Tiffani Jones
		Tiffani Jones, Chairman of the Board, President, Chief Financial Officer and Principal Accounting Officer

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

Dated: November 5, 2019	By:	/s/ Tiffani Jones
		Tiffani Jones, Chairman of the Board, President,
		Chief Financial Officer,
		and Principal Accounting Officer

11

EX-31.1

EXHIBIT 31.1

CERTIFICATION

I, Tiffani Jones, certify that:

1. I have reviewed this report on Form 10-Q of Regnum 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(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b.	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c.	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the small business issuer’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.

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (of 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 small business issuer’s internal control over financial reporting.

Date:  November 5, 2019	By:	/s/ Tiffani Jones
		Tiffani Jones, President
		(Principal Executive Officer)

EX-31.2

EXHIBIT 31.2

CERTIFICATION

I, Tiffani Jones, certify that:

1. I have reviewed this report on Form 10-Q of Regnum 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(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

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

d. Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the small business issuer’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.

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (of 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 small business issuer’s internal control over financial reporting.

Date:  November 5, 2019	By:	/s/ Tiffani Jones
		Tiffani Jones, Chief Financial Officer
		(Principal Financial/Accounting Officer)

EX-32.1

EXHIBIT 32.1

CERTIFICATION PURSUANT TO

418 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 Regnum Corp. (the “Company”) on Form 10-Q for the period ending September 30, 2019 (the “Report”) I, Tiffani Jones, President of the Company, certify, pursuant to 18 USC Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge and belief:

(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.

Date: November 5, 2019	By:	/s/ Tiffani Jones
		Tiffani Jones, President and CEO

This certification accompanies the Report pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not, except to the extent required by the Sarbanes-Oxley Act of 2002, be deemed filed by the Company for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.

EX-32.2

EXHIBIT 32.2

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 Regnum Corp. (the “Company”) on Form 10-Q for the period ending September 30, 2019 (the “Report”) I, Tiffani Jones, Chief Financial Officer (Principal Financial/Accounting Officer) of the Company, certify, pursuant to 18 USC Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge and belief:

(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.

Date: November 5, 2019	By:	/s/ Tiffani Jones
		Tiffani Jones, Chief Financial Officer

This certification accompanies the Report pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not, except to the extent required by the Sarbanes-Oxley Act of 2002, be deemed filed by the Company for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.

XML

CONCENTRATION (Details Narrative)	9 Months Ended
	Sep. 30, 2019 integer
CONCENTRATION (Details Narrative)
Number of customers	4

XML

Balance Sheet (Parenthetical) - $ / shares	Sep. 30, 2019	Dec. 31, 2018
STOCKHOLDERS' EQUITY
Preferred stock, shares par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, shares par value	$ 0.001	$ 0.001
Common stock, shares authorized	80,000,000	80,000,000
Common stock, shares issued	22,950,000	22,950,000
Common stock, shares outstanding	22,950,000	22,950,000

XML

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

9 Months Ended

Sep. 30, 2019

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The accompanying financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at September 30, 2019, and for all periods presented herein, have been made.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company's December 31, 2018 financial statements. The results of operations for the periods ended September 30, 2019 and 2018 are not necessarily indicative of the operating results for the full year.

Nature of Business

Regnum, Inc. (“The Company”) was organized on March 31, 2016, under the laws of the State of Nevada. The Company has commenced principal operations as of the balance sheet date.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

Basic Loss per Common Share

Basic loss per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company’s net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are 80,000,000 common stock shares authorized at $0.001 par value and 22,950,000 shares of common stock outstanding as of September 30, 2019. The Company had no potential dilutive shares of common stock as of September 30, 2019.

Accounting Basis

The basis is accounting principles generally accepted in the United States of America. The Company has adopted a December 31 fiscal year-end.

Cash and Cash Equivalents

Cash and cash equivalents include cash in banks and financial instruments which mature within three months of the date of purchase.

Revenue Recognition  

Revenues from the sale of intellectual property are recognized when persuasive evidence of an arrangement exists, the intellectual property has been delivered or is made available for delivery, the customer can begin the use of the intellectual property, the fee is fixed or determinable and collectability is reasonably assured, which is generally upon execution of a purchase agreement and delivery of the intellectual property.

Intangible Assets

The Company capitalizes the costs of acquiring intellectual property. The Company amortizes these costs over the costs in the same expected ratio as the associated ultimate revenue.

Impairment of Long-Lived Assets

The Company reviews and evaluates long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amounts may not be recoverable. The assets are subject to impairment consideration under ASC 360-10-35-17 if events or circumstances indicate that their carrying amounts might not be recoverable. When the Company determines that an impairment analysis should be done, the analysis will be performed using rules of ASC 930-360-35, Asset Impairment, and 360-10-15-3 through 15-5, Impairment or Disposal of Long-Lived Assets.

Income Taxes

The Company provides for income taxes under ASC 740, Accounting for Income Taxes. ASC 740 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect when these differences are expected to reverse.

ASC 740 requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized.

If applicable, the Company would classify interest and penalties related to uncertain tax positions in income tax expense. Through March 31, 2019, there has been no interest expense or penalties related to unrecognized tax benefits.

Recent Accounting Pronouncements

In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842), which amends the existing accounting standards for leases. The new standard requires lessees to record a right-of-use (“ROU”) asset and a corresponding lease liability on the balance sheet (with the exception of short-term leases). This new standard is effective for annual reporting periods beginning after December 15, 2018, and interim reporting periods within those annual reporting periods, with early adoption permitted. We adopted this new standard effective January 1, 2019. Adoption did not have any effect on the Company. 

Management has considered all recent accounting pronouncements issued since the last audit of the Company’s financial statements. The Company’s management believes that these recent pronouncements will not have a material effect on the Company’s financial statements.

XML

STOCKHOLDERS' EQUITY (Details Narrative) - $ / shares	Sep. 30, 2019	Dec. 31, 2018
STOCKHOLDERS' EQUITY (Details Narrative)
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	80,000,000	80,000,000
Common stock, shares issued	22,950,000	22,950,000
Common stock, shares outstanding	22,950,000	22,950,000
Preferred stock, Par value	$ 0.001	$ 0.001
Preferred stock, Authorized	5,000,000	5,000,000
Preferred stock, Issued	0	0
Preferred stock, Outstanding	0	0

XML

SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2019

SUBSEQUENT EVENTS

7. SUBSEQUENT EVENTS

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

XML

Balance Sheet - USD ($)	Sep. 30, 2019	Dec. 31, 2018
CURRENT ASSETS
Cash	$ 13,322	$ 47,295
Prepaid expenses
Total Current Assets	13,322	47,295
OTHER ASSETS
Intangible assets	1,119	400
Total Other Assets	1,119	400
TOTAL ASSETS	14,441	47,695
CURRENT LIABILITIES
Accrued taxes payable		2,310
Account payable - related party	1,325	1,325
Total Current Liabilities	1,325	3,635
TOTAL LIABILITIES	1,325	3,635
STOCKHOLDERS' EQUITY
Preferred stock: $0.001 par value, 5,000,000 shares authorized, 0 issued and outstanding
Common stock: $0.001 par value, 80,000,000 shares authorized, 22,950,000 and 22,950,000 shares issued and outstanding, respectively	22,950	22,950
Additional paid-in capital	18,550	18,550
Retained earnings (accumulated deficit)	(28,384)	2,560
Total Stockholders' Equity	13,116	44,060
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 14,441	$ 47,695

XML

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
OPERATING ACTIVITIES
Net income (loss)	$ (30,944)	$ 2,190
Adjustments to reconcile net loss to net cash provided by operating activities:
Expenses paid on the Company's behalf by a related-party
Amortization of intangible assets	281	486
Changes in operating assets and liabilities:
Accrued taxes payable	(2,310)	1,236
Account payable - related party
Net Cash Provided By Operating Activities	(32,973)	3,912
INVESTING ACTIVITIES
Purchase of intangible assets	(1,000)	(800)
Net Cash Used in Investing Activities	(1,000)	(800)
FINANCING ACTIVITIES
Common stock issued for cash		29,500
Net Cash Provided by Financing Activities		29,500
NET INCREASE IN CASH	(33,973)	32,612
CASH AT BEGINNING OF PERIOD	47,295	14,550
CASH AT END OF PERIOD	$ 13,322	$ 47,162

XML

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - $ / shares	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)
Entity incorporation	Nevada
Entity incorporation, date of incorporation	Mar. 31, 2016
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	80,000,000	80,000,000
Common stock, shares outstanding	22,950,000	22,950,000

XML

CONCENTRATION

9 Months Ended

Sep. 30, 2019

CONCENTRATION

6. CONCENTRATION

For the nine months ended September 30, 2019, revenues consisted of sales to four customers.

XML

INCOME TAXES (Details 1) - USD ($)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
INCOME TAXES (Details 1)
Federal tax at statutory rate		$ 740
State taxes, net of federal benefit		(104)
Net operating loss carryforward		$ 636

XML

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statements of Operations (Unaudited)
REVENUES	$ 2,500	$ 3,500	$ 5,300	$ 17,000
OPERATING EXPENSES
Amortization of intangible assets	167	115	281	486
Legal and professional fees	1,500	1,000	33,225	7,350
General and administrative	745	2,136	2,738	5,738
Total Operating Expenses	2,412	3,251	36,244	13,574
INCOME (LOSS) FROM OPERATIONS	88	249	(30,944)	3,426
OTHER EXPENSES
INCOME (LOSS) BEFORE TAXES	88	249	(30,944)	3,426
INCOME TAX EXPENSE		102		1,236
NET INCOME (LOSS)	$ 88	$ 147	$ (30,944)	$ 2,190
BASIC AND DILUTED INCOME (LOSS) PER COMMON SHARE	$ 0.00	$ 0.00	$ (0.00)	$ 0.00
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING	22,950,000	21,535,326	22,950,000	20,517,399

XML

GOING CONCERN

9 Months Ended

Sep. 30, 2019

GOING CONCERN

2. GOING CONCERN

The Company's financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has a limited operating history and has not yet established strong liquidity or a reliable ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern over an extended period of time. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until its operations become established enough to be considered reliably profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations.

In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses The Company intends to position itself so that it may be able to raise additional funds through the capital markets. In light of management’s efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern.

The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

XML

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

9 Months Ended

Sep. 30, 2019

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Business

Regnum, Inc. (“The Company”) was organized on March 31, 2016, under the laws of the State of Nevada. The Company has commenced principal operations as of the balance sheet date.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

Basic Loss per Common Share

Basic loss per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company’s net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are 80,000,000 common stock shares authorized at $0.001 par value and 22,950,000 shares of common stock outstanding as of September 30, 2019. The Company had no potential dilutive shares of common stock as of September 30, 2019.

Accounting Basis

The basis is accounting principles generally accepted in the United States of America. The Company has adopted a December 31 fiscal year-end.

Cash and Cash Equivalents

Cash and cash equivalents include cash in banks and financial instruments which mature within three months of the date of purchase.

Revenue Recognition

Revenues from the sale of intellectual property are recognized when persuasive evidence of an arrangement exists, the intellectual property has been delivered or is made available for delivery, the customer can begin the use of the intellectual property, the fee is fixed or determinable and collectability is reasonably assured, which is generally upon execution of a purchase agreement and delivery of the intellectual property.

Intangible Assets

The Company capitalizes the costs of acquiring intellectual property. The Company amortizes these costs over the costs in the same expected ratio as the associated ultimate revenue.

Impairment of Long-Lived Assets

The Company reviews and evaluates long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amounts may not be recoverable. The assets are subject to impairment consideration under ASC 360-10-35-17 if events or circumstances indicate that their carrying amounts might not be recoverable. When the Company determines that an impairment analysis should be done, the analysis will be performed using rules of ASC 930-360-35, Asset Impairment, and 360-10-15-3 through 15-5, Impairment or Disposal of Long-Lived Assets.

Income Taxes

The Company provides for income taxes under ASC 740, Accounting for Income Taxes. ASC 740 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect when these differences are expected to reverse.

ASC 740 requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized.

If applicable, the Company would classify interest and penalties related to uncertain tax positions in income tax expense. Through March 31, 2019, there has been no interest expense or penalties related to unrecognized tax benefits.

Recent Accounting Pronouncements

In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842), which amends the existing accounting standards for leases. The new standard requires lessees to record a right-of-use (“ROU”) asset and a corresponding lease liability on the balance sheet (with the exception of short-term leases). This new standard is effective for annual reporting periods beginning after December 15, 2018, and interim reporting periods within those annual reporting periods, with early adoption permitted. We adopted this new standard effective January 1, 2019. Adoption did not have any effect on the Company. 

Management has considered all recent accounting pronouncements issued since the last audit of the Company’s financial statements. The Company’s management believes that these recent pronouncements will not have a material effect on the Company’s financial statements.

XML

RELATED PARTY TRANSACTIONS

9 Months Ended

Sep. 30, 2019

RELATED PARTY TRANSACTIONS

4. RELATED PARTY TRANSACTIONS

As of September 30, 2019, the Company is indebted to Company officers and entities controlled by officers for services, periodic advances to the Company and expenses paid for on the Company’s behalf. At September 30, 2019, these transactions totaled $1,325. The advances are no-interest-bearing, and are due on demand.

XML

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
RELATED PARTY TRANSACTIONS (Details Narrative)
Account Payable - related party	$ 1,325	$ 1,325

XML

STOCKHOLDERS' EQUITY

9 Months Ended

Sep. 30, 2019

Equity [Abstract]

3. STOCKHOLDERS' EQUITY

As of September 30, 2019, the Company has authorized 80,000,000 shares of $0.001 par value common stock, of which 22,950,000 shares are issued and outstanding.

As of September 30, 2019, the Company has authorized 5,000,000 shares of $0.001 par value preferred stock, of which none are issued and outstanding.

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Document and Entity Information	9 Months Ended
	Sep. 30, 2019 shares
Document And Entity Information
Entity Registrant Name	Regnum Corp.
Entity Central Index Key	0001716324
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Current Reporting Status	Yes
Document Period End Date	Sep. 30, 2019
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2019
Entity Ex Transition Period	false
Entity Common Stock Shares Outstanding	22,950,000

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Statements of Stockholders' Equity (Deficit) (Unaudited) - USD ($)	Total	Common Stock Shares	Additional Paid-In Capital	Retained Earnings Accumulated Deficit
Balance, Shares at Dec. 31, 2017		20,000,000
Balance, Amount at Dec. 31, 2017	$ 12,562	$ 20,000	$ (8,000)	$ 562
Net loss	1,258			1,258
Balance, Shares at Mar. 31, 2018		20,000,000
Balance, Amount at Mar. 31, 2018	13,820	$ 20,000	(8,000)	1,820
Net loss	785			785
Balance, Shares at Jun. 30, 2018		20,000,000
Balance, Amount at Jun. 30, 2018	14,605	$ 20,000	(8,000)	2,605
Net loss	147			147
Balance, Shares at Sep. 30, 2018		20,000,000
Balance, Amount at Sep. 30, 2018	14,752	$ 20,000	(8,000)	2,752
Balance, Shares at Dec. 31, 2018		22,950,000
Balance, Amount at Dec. 31, 2018	44,060	$ 22,950	18,550	2,560
Net loss	(23,610)			(23,610)
Balance, Shares at Mar. 31, 2019		22,950,000
Balance, Amount at Mar. 31, 2019	20,450	$ 22,950	18,550	(21,050)
Net loss	(7,422)			(7,422)
Balance, Shares at Jun. 30, 2019		22,950,000
Balance, Amount at Jun. 30, 2019	13,028	$ 22,950	18,550	(28,472)
Net loss	88			88
Balance, Shares at Sep. 30, 2019		22,950,000
Balance, Amount at Sep. 30, 2019	$ 13,116	$ 22,950	$ 18,550	$ (28,384)

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INCOME TAXES (Details) - USD ($)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
INCOME TAXES (Details)
Federal		$ 636
State		600
Total		$ 1,236

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INCOME TAXES (Tables)

9 Months Ended

Sep. 30, 2019

INCOME TAXES (Tables)

Income tax expense

	September 30,
	2019		2018
Federal	$	-	$	636
State		-		600
Total	$	-	$	1,236

Income tax expense differed from the amounts computed by applying the U.S. federal statutory tax rate applicable to the Company’s level of pretax income as a result of the following:

	September 30,
	2019		2018
Federal tax at statutory rate	$	-	$	740
State taxes, net of federal benefit		-		(104	)
Net operating loss carryforward	$	-	$	636

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INCOME TAXES

9 Months Ended

Sep. 30, 2019

INCOME TAXES

5. INCOME TAXES

Income tax expense consists of the following:

	September 30,
	2019		2018
Federal	$	-	$	636
State		-		600
Total	$	-	$	1,236

Income tax expense differed from the amounts computed by applying the U.S. federal statutory tax rate applicable to the Company’s level of pretax income as a result of the following:

	September 30,
	2019		2018
Federal tax at statutory rate	$	-	$	740
State taxes, net of federal benefit		-		(104	)
Net operating loss carryforward	$	-	$	636