10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

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

For The Quarterly Period Ended May 31, 2019

or

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

For the transition period from ____________ to ____________

Commission File Number 333-223712

LEADER HILL CORPORATION

(Exact name of registrant issuer as specified in its charter)

Nevada	37-1867536
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

Flat 1204 Block B, Mei Li Yuan, Hong Ling Middle Road, Luohu,

Shenzhen 518000 China.

(Address of principal executive offices, including zip code)

(+86) 18665342668

(Registrant’s phone number, including area code)

N/A

(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 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 [X] No [  ]

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, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer [  ]	Accelerated Filer [  ]	Non-accelerated Filer [  ]	Smaller reporting company [X]
			Emerging growth company [X]

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 Rule12b-2 of the Exchange Act).

Yes [  ] No [X]

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS:

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court.

N/A

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

Title of each class	Trading Symbol(s)	Name on each exchange on which registered
N/A	N/A	N/A

APPLICABLE ONLY TO CORPORATE ISSUERS:

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

Class	Outstanding at July 14, 2019
Common Stock, $0.001 par value	4,825,000

TABLE OF CONTENTS

		Page
PART I	FINANCIAL INFORMATION
ITEM 1.	FINANCIAL STATEMENTS:	3
	Condensed Balance Sheets as of May 31, 2109 (unaudited) and November 30, 2018	3
	Condensed Statements of Operations and Comprehensive Loss for the Three and Six Months Ended May 31, 2018 and 2019 (unaudited)	4
	Condensed Statements of Cash Flows for the Six Months Ended May 31, 2018 and 2019 (unaudited)	5
	Notes to the Unaudited Condensed Financial Statements	6
ITEM 2.	MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS	13
ITEM 3.	QUANTITATIVE AND QUALITATIVED IS CLOSURES ABOUT MARKET RISK	15
ITEM 4.	CONTROLS AND PROCEDURES	15
PART II	OTHER INFORMATION
ITEM 1	LEGAL PROCEEDINGS	16
ITEM 2	UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS	16
ITEM 3	DEFAULTS UPON SENIOR SECURITIES	16
ITEM 4	MINE SAFETY DISCLOSURES	16
ITEM 5	OTHER INFORMATION	16
ITEM 6	EXHIBITS	16
SIGNATURES		17

2

PART I — FINANCIAL INFORMATION

Item 1. Financial statements

LEADER HILL CORPORATION

CONDENSED BALANCE SHEETS

	As of
	May 31, 2019			November 30, 2018
	(Unaudited)			(Audited)
ASSETS
Current assets:
Cash and cash equivalents	$	531			24,761
Prepayment		40,100			40,100
Total current assets		40,631			64,861
Non-current assets
Plant and equipment, net		1,995			2,266
Total non-current assets		1,995			2,266
TOTAL ASSETS	$	42,626		$	67,127
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Loan from director		13,159			23,738
Accrued expenses		44,075			49,500
Deferred revenue	$	2,800		$	5,600
Total current liabilities		60,034			78,838
TOTAL LIABILITIES	$	60,034		$	78,838
STOCKHOLDERS’ DEFICIT
Preferred stock, $0.001 par value; 0 shares authorized; None issued and outstanding		-			-
Common stock, $ 0.001 par value; 75,000,000 shares authorized; 4,825,000 shares issued and outstanding as of May 31, 2019 and November 30, 2018, respectively		4,825			4,825
Additional paid-in capital		32,175			32,175
Accumulated other comprehensive loss		(1,493	)		(1,629	)
Accumulated deficit		(52,915	)		(47,082	)
TOTAL STOCKHOLDERS’ DEFICIT	$	(17,408	)	$	(11,711	)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	$	42,626		$	67,127

See accompanying notes to the unaudited condensed consolidated financial statements.

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LEADER HILL CORPORATION

CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(Unaudited)

	Six months ended May 31,						Three months ended May 31,
	2019			2018			2019			2018
REVENUE	$	2,800		$	-		$	2,800		$	-
COST OF REVENUE		-			-			-			-
GROSS PROFIT		2,800			-			2,800			-
OTHER INCOME		-			-			-			-
GENERAL AND ADMINISTRATIVE EXPENSES		(8,633	)		(10,373	)		(3,689	)		(9,649	)
LOSS BEFORE INCOME TAX		(5,833	)		(10,373	)		(889	)		(9,649	)
INCOME TAX PROVISION		-			-			-			-
NET LOSS		(5,833	)		(10,373	)	$	(889	)		(9,649	)
Non Controlling Interest
Other comprehensive income/(loss):
- Foreign currency translation adjustment		136			(443	)		(11	)		(39	)
Comprehensive loss		(5,697	)		(10,817	)		(900	)		(9,688	)
Net income/(loss) per share- Basic and diluted		(0.00	)		(0.00	)		(0.00	)		(0.00	)
Weighted average number of common shares outstanding – Basic and diluted		4,825,000			4,000,000			4,825,000			-

See accompanying notes to the unaudited condensed consolidated financial statements.

4

LEADER HILL CORPORATION

CONDENSED STATEMENTS OF CASH FLOWS

(Unaudited)

	Six months ended May 31,
	2019			2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	(5,833	)	$	(10,373	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation		271			205
Changes in operating assets and liabilities:
Accounts receivables		-			8,000
Accrued expenses		(5,425	)		(23,000	)
Deferred Revenue		(2,800	)		2,800
Net cash (used in ) operating activities	$	(13,787	)	$	(22,368	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Loan from Director	$	(10,579	)	$	23,166
Proceed from Share Issuance		-			4,000
Net cash (used in ) / generated by financing activities	$	(10,579	)	$	27,166
Effect of exchange rate changes on cash and cash equivalents	$	136		$	(443	)
Net (decrease) / increase in cash and cash equivalents	$	(24,230	)	$	4,335
Cash and cash equivalents, beginning of period		24,761			-
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	531		$	4,335
SUPPLEMENTAL CASH FLOWS INFORMATION
Cash paid for income taxes	$	-		$	-
Cash paid for interest paid	$	-		$	-

See accompanying notes to the unaudited condensed consolidated financial statements.

5

LEADER HILL CORPORATION

NOTES TO FINANCIAL STATEMENTS

For the SIX MONTHS ended MAY 31, 2018 AND 2019 (UNaudited)

(Currency expressed in United States Dollars (“US$”), except for number of shares)

1. ORGANIZATION AND BUSINESS BACKGROUND

Leader Hill Corporation, a Nevada corporation (“the Company”) was incorporated under the laws of the State of Nevada on August 21, 2017.

We, Leader Hill Corporation (“the Company”), are an early stage business consulting company that intends to assist start-up to midsize companies in the East Asia region, with a focus on mainland China and Hong Kong, to operate their businesses more cost effectively through our multifaceted consulting services.

The Company’s executive office is located at Flat 1204 Block B, Mei Li Yuan, Hong Ling Middle Road, Luohu, Shenzhen 518000 China.

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying financial statements, for the six months ended and as at May 31, 2019, the Company incurred a net loss of $5,833 which arrives at accumulated deficit of $52,915. These factors raise substantial doubt about the Company’s ability to continue as a going concern within one year of the date that the financial statements are issued. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of presentation

The financial statements for Leader Hill Corporation are prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). The Company has adopted November 30 as its fiscal year end.

Use of estimates

Management uses estimates and assumptions in preparing these financial statements in accordance with US GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities in the balance sheets, and the reported revenue and expenses during the periods reported. Actual results may differ from these estimates.

Revenue from services

The Company adopted Accounting Standards Codification (“ASC”) 606. ASC 606, Revenue from Contracts with Customers, establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity’s contracts to provide goods or services to customers. The core principle requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services recognized as performance obligations are satisfied.

The Company has assessed the impact of the guidance by performing the following five steps analysis:

Step 1: Identify the contract

Step 2: Identify the performance obligations

Step 3: Determine the transaction price

Step 4: Allocate the transaction price

Step 5: Recognize revenue

Based on the assessment, the Company concluded that there was no change to the timing and pattern of revenue recognition for its current revenue streams in scope of Topic 606 and therefore there were no material changes to the Company’s consolidated financial statements upon adoption of ASC 606.

Revenue is measured at the fair value of the consideration received or receivable, net of discounts and taxes applicable to the revenue.

Revenue from supplies of consulting services is recognized when title and risk of loss are transferred and there are no continuing obligations to the customer. Title and the risks and rewards of ownership transfer to and accepted by the customer when the services are collected by the customer at the Company’s office. Revenue is recorded net of sales discounts, returns, allowances, and other adjustments that are based upon management’s best estimates and historical experience and are provided for in the same period as the related revenues are recorded. Based on limited operating history, management estimates that there was no sales return for the period reported.

The Company derives its revenue from direct sales to individuals and business companies. Generally, the Company recognizes revenue when services are sold and accepted by the customers and there are no continuing obligations to the customer.

For the six months ended May 31, 2019, the Company has realized a revenue of $2,800 through providing accounting and advisory related services to customers.

6

General and administrative expenses

For the three and six months ended May 31, 2019, the company has incurred general and administrative expenses of $3,689 and $8,633 respectively, which consist of mainly financial statement review, transfer agent fee and legal fees.

For the three and six months ended May 31, 2018, the company has incurred general and administrative expenses of $9,649 and $10,373 respectively, which consist of mainly company incorporation fee, audit fee and professional fees.

Cash and cash equivalents

Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments.

The company has a cash and cash equivalents of $531 and $24,761 as of May 31, 2019 and November 30, 2018 respectively.

Deferred Revenue

For service contracts where the performance obligation is not completed, deferred revenue is recorded for any payments received in advance of the performance obligation.

	As of May 31, 2019		As of November 30, 2018
	(Unaudited)		(Audited)
Deferred revenue	$	2,800	$	5,600

For the six months ended May 31, 2019, the Company has realized a revenue previously categorized as current liability amounted to $2,800 upon the completion of company incorporation services.

7

Accounts receivable

Accounts receivable are recorded at the invoiced amount less an allowance for any uncollectible accounts and do not bear interest, which are due on demand. Management reviews the adequacy of the allowance for doubtful accounts on an ongoing basis, using historical collection trends and aging of receivables. Management also periodically evaluates individual customer’s financial condition, credit history, and the current economic conditions to make adjustments in the allowance when it is considered necessary. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote.

Plant and equipment

Plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis over the following expected useful lives from the date on which they become fully operational:

Categories	Estimated useful life
Office equipment	5 years

Expenditures for maintenance and repairs are expensed as incurred. The gain or loss on the disposal of plant and equipment is the difference between the net sales proceeds and the carrying amount of the relevant assets and is recognized in the statement of operations.

The company has incurred depreciation expenses of $135 and $271 for the three months and six months ended May 31, 2019 respectively.

For the three and six months ended May 31, 2018, the company has incurred $103 and $205 of depreciation expenses respectively.

Going Concern

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying financial statements, for the six months ended May 31, 2019, the Company incurred a net loss of $5,833 which arrives at accumulated deficit of $52,915 and no revenue has been generated. These factors raise substantial doubt about the Company’s ability to continue as a going concern within one year of the date that the financial statements are issued. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

The Company’s ability to continue as a going concern is dependent upon improving its profitability and the continuing financial support from its shareholders. Management believes the existing shareholders or external financing will provide the additional cash to meet the Company’s obligations as they become due. No assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able to obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stockholders, in the case of equity financing.

8

Net income/(loss) per share

The Company calculates net income/(loss) per share in accordance with ASC Topic 260, “Earnings per Share.” Basic income/(loss) per share is computed by dividing the net income/(loss) by the weighted-average number of common shares outstanding during the period. Diluted income per share is computed similar to basic income/(loss) per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common stock equivalents had been issued and if the additional common shares were dilutive.

Related parties

Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence.

Fair value of financial instruments:

The carrying value of the Company’s financial instruments: receivables and amount due to a director approximate at their fair values because of the short-term nature of these financial instruments.

The Company also follows the guidance of the ASC Topic 820-10, “Fair Value Measurements and Disclosures” (“ASC 820-10”), with respect to financial assets and liabilities that are measured at fair value. ASC 820-10 establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows:

Level 1: Observable inputs such as quoted prices in active markets;

Level 2: Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and

Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

Recent accounting pronouncements

In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) (ASU 2014-09), which amends the existing accounting standards for revenue recognition. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, which delays the effective date of ASU 2014-09 by one year. The FASB also agreed to allow entities to choose to adopt the standard as of the original effective date. In March 2016, the FASB issued Accounting Standards Update No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net) (ASU 2016-08) which clarifies the implementation guidance on principal versus agent considerations. The guidance includes indicators to assist an entity in determining whether it controls a specified good or service before it is transferred to the customers. The new standard further requires new disclosures about contracts with customers, including the significant judgments the company has made when applying the guidance. We will adopt the new standard effective December 1, 2018, using the modified retrospective transition method.

In June 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-10, “Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation,” (“ASU 2014-10”). ASU 2014-10 removes the definition of a development stage entity from the ASC, thereby removing the financial reporting distinction between development stage entities and other reporting entities from GAAP. In addition, ASU 2014-10 eliminates the requirements for development stage entities to (1) present inception-to-date information in the statements of operations, cash flows, and stockholders’ equity, (2) label the financial statements as those of a development stage entity, (3) disclose a description of the development stage activities in which the entity is engaged, and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage. ASU 2014-10 is effective for annual reporting periods beginning after December 15, 2014, and interim periods therein. Early adoption is permitted. The Company has elected to adopt ASU 2014-10 effective with this registration statement on Form S-1 and its adoption resulted in the removal of previously required development stage disclosures.

In October 2016, the FASB issued Accounting Standards Update No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers Other than Inventory (ASU 2016-16), which requires companies to recognize the income-tax consequences of an intra-entity transfer of an asset other than inventory. This guidance will be effective for us in the first quarter of 2018, with the option to adopt it in the first quarter of 2017. We currently anticipate adopting the new standard effective January 1, 2018, and do not expect the standard to have a material impact on our financial statements.

9

In November 2016, the FASB issued Accounting Standards Update No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (ASU 2016-18), which requires companies to include amounts generally described as restricted cash and restricted cash equivalents in cash and cash equivalents when reconciling beginning-of-period and end-of-period total amounts shown on the statement of cash flows. This guidance will be effective for us in the first quarter of 2018 and early adoption is permitted. We are still evaluating the effect that this guidance will have on our financial statements and related disclosures.

The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.

3. GOING CONCERN UNCERTAINTIES

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The company having accumulated deficit of $52,915 and $47,082 as of May 31, 2019 and November 30, 2018 respectively.

For six months ended May 31, 2019 and 2018, the company has incurred a net loss of $5,833.

The Company’s cash position is not significant to support the Company’s daily operations. While the Company believes in the viability of its strategy and in its ability to raise additional funds, there can be no assurances to that effect. The Company’s ability to continue as a going concern is dependent upon its ability to improve profitability and the ability to acquire financial support from its shareholder.

These and other factors raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that financial statements are issued. These financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result in the Company not being able to continue as a going concern.

4. AMOUNT DUE TO A DIRECTOR

As of May 31, 2019, and November 30, 2018, the company has a loan from sole director of $13,159 and $23,738 respectively, which is unsecured and non-interest bearing with no fixed terms of repayment.

10

For the six months period ended May 31, 2019, the company has repaid $14,000 outstanding loan to the sole director and director has further advance $3,421 for the settlement of audit fee for previous quarter and this quarter transfer agent fee.

Currently, our office is provided by our director, Seah Chia Yee, without charge.

Our director, Seah Chia Yee, has not been compensated for the services.

5. PREPAYMENT

As of May 31, 2019, and November 30, 2018, the company has a prepayment of $40,100 represented an outstanding prepaid service fee.

6. PROPERTY AND EQUIPMENT, NET

	As of May 31, 2019			As of November 30, 2018
	(Unaudited)			(Audited)
Office equipment	$	2,709		$	2,709
		2,709			2,709
Less: Accumulated depreciation		(714	)		(443	)
Total	$	1,995		$	2,266

The company has incurred depreciation expenses of $135 and $271 for the three months and six months ended May 31, 2019 respectively.

For the three and six months ended May 31, 2018, the company has incurred $103 and $205 of depreciation expenses respectively.

11

7. ACCRUED EXPENSES

As at May 31, 2019, the company has an outstanding accrued expense as following:

	As of May 31, 2019		As of November 30, 2018
	(Unaudited)		(Audited)
Customer deposit	$	41,000	$	41,000
Accrued audit fee		3,000		8,500
Accrued transfer agent fee		75		-
Total	$	44,075	$	49,500

8. CONCENTRATION OF RISK

For the three months ended May 31, 2019, the Company has realized a revenue of $2,800 from single customers.

9. COMMON STOCK

On August 21, 2017, the Company issued 4,000,000 shares of restricted common stock, each with a par value of $0.001 per share, to Mr. Seah for initial working capital of $4,000.

From June 1, 2018 to August 31, 2018, the Company sold a total of 825,000 initial public offering shares to 33 shareholders, all of which reside in China, Hong Kong and Malaysia, at a price of $0.04 per share. The total proceeds to the Company amounted to a total of $33,000. The proceeds will be used as working capital.

As of May 31, 2019, we have authorized capital stock consisting of 75,000,000 shares of common stock, $0.001 par value per share of which 4,825,000 shares of common stock were issued and outstanding.

10. SUBSEQUENT EVENTS

In accordance with ASC Topic 855, “Subsequent Events”, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued, the Company has evaluated all events or transactions that occurred after May 31, 2019 up through the date the Company issued the financial statements. No other events or transaction has occurred material to the knowledge of shareholders.

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ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The information contained in this Form 10-Q is intended to update the information contained in our Annual Report on Form 10-K for the year ended November 30, 2018 and presumes that readers have access to, and will have read, the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and other information contained in such Form 10-K. The following discussion and analysis also should be read together with our financial statements and the notes to the financial statements included elsewhere in this Form 10-Q.

The following discussion contains certain statements that may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements appear in a number of places in this Report, including, without limitation, “Management’s Discussion and Analysis of Financial Condition and Results of Operations. “These statements are not guarantees of future performance and involve risks, uncertainties and requirements that are difficult to predict or are beyond our control. Forward-looking statements speak only as of the date of this quarterly report. You should not put undue reliance on any forward-looking statements. We strongly encourage investors to carefully read the factors described in our Form S-1 Amendment No.2, dated June 15, 2018, in the section entitled “Risk Factors” for a description of certain risks that could, among other things, cause actual results to differ from these forward-looking statements. We assume no responsibility to update the forward-looking statements contained in this transition report on Form10-Q. The following should also be read in conjunction with the unaudited Condensed Consolidated Financial Statements and notes thereto that appear elsewhere in this report.

Company Overview

We, Leader Hill Corporation, a Nevada corporation (“the Company”) was incorporated under the laws of the State of Nevada on August 21, 2017.

The Company’s executive office is located at Flat 1204 Block B, Mei Li Yuan, Hong Ling Middle Road, Luohu, Shenzhen 518000 China.

We, Leader Hill Corporation (“the Company”), are an early stage business consulting company that intends to assist start-up to midsize companies in the East Asia region, with a focus on mainland China and Hong Kong, to operate their businesses more cost effectively through our multifaceted consulting services. Additionally, it should be noted that the Company has not yet generated any revenue, and we currently operate at a net loss.

Going Concern Uncertainties

The accompanying financial statements have been prepared using the going concern basis of accounting, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business.

For the six months ended and as of May 31, 2019, the Company suffered operating losses of $5,833 and had an accumulated deficit of $52,915. The continuation of the Company as a going concern through May 31, 2019 is dependent upon improving the profitability and the continuing financial support from its stockholders. Management believes the existing shareholders or external financing will provide the additional cash needed to meet the Company’s obligations as they become due.

These and other factors raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements included herein do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result in the Company not being able to continue as a going concern.

Results of Operation

For the three and six months period ended May 31, 2019 and 2018

Our cash and cash equivalents balance were $531 and $24,761 as of May 31, 2019 and November 30, 2018 respectively.

Revenues and cost of revenue

For the three and six months ended May 31, 2019, the Company has realized a revenue of $2,800, no cost of revenue was incurred for both of mentioned period.

No revenue nor cost of revenue was generated nor incurred for the three and six months period ended May 31, 2018.

General and administrative expenses

For the three and six months ended May 31, 2019, the company has incurred general and administrative expenses of $3,689 and $8,633 respectively, which consist of mainly financial statement review, transfer agent fee and legal fees.

For the three and six months ended May 31, 2018, the company has incurred general and administrative expenses of $9,649 and $10,373 respectively, which consist of mainly company incorporation fee, audit fee and professional fees.

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Net Profit and net loss

The Company has incurred a net loss of $889 and $5,833 for the three and six months period ended May 31, 2019 respectively.

For the three and six months ended May 31, 2018, the Company has incurred a net loss of $9,649 and $10,373 respectively.

Liquidity and Capital Resources

Cash Used in Operating Activities

For the six months period ended May 31, 2019, the company has consumed $13,787 in operating activity, of which mainly consist of incurring an operating net loss and decrease in accrued expenses and realization of deferred revenue.

For the six months period ended May 31, 2018, the company has consumed $ 22,368 in operating activity, of which mainly consist of incurring an operating net loss, increase in account receivable and decrease in other payable and accrued liabilities.

Cash Used in / Provided by Financing Activities

For the six months period ended May 31, 2019, the company has repaid $14,000 loan from director and further advance to Company to settle $3,421 outstanding audit fee and transfer agent fee.

Net cash provided by financing activities were $27,166 for the six months ended May 31, 2018, contributed from the subscription receivable and loan from directors.

Off-balance Sheet Arrangements

We have no significant off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in our financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to our stockholders as of May 8, 2018.

Contractual Obligations

As of May 31, 2019, the Company has no contractual obligations involved.

14

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

Evaluation of Disclosure Controls and Procedures:

We carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) as of May 31, 2019. This evaluation was carried out under the supervision and with the participation of our Chief Executive Officer and our Chief Financial Officer. Based upon that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that, as of May 31, 2019, our disclosure controls and procedures were not effective due to the presence of material weaknesses in internal control over financial reporting.

A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company’s annual or interim financial statements will not be prevented or detected on a timely basis. Management has identified the following material weaknesses which have caused management to conclude that, as of May 31, 2019, our disclosure controls and procedures were not effective: (i) inadequate segregation of duties and effective risk assessment; and (ii) insufficient written policies and procedures for accounting and financial reporting with respect to the requirements and application of both US GAAP and SEC guidelines.

Changes in Internal Control Over Financial Reporting:

There were no changes in our internal control over financial reporting during the quarter ending May 31, 2019, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

15

PART II — OTHER INFORMATION

Item 1. Legal Proceedings

From time to time, we may become party to litigation or other legal proceedings that we consider to be a part of the ordinary course of our business. We are not currently involved in legal proceedings that could reasonably be expected to have a material adverse effect on our business, prospects, financial condition or results of operations. We may become involved in material legal proceedings in the future.

Item 1A. Risk Factors

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 2. Unregistered Sales of Equity Securities and Use of Proceeds

(a) None.

(b) None.

(c) None.

Item 3. Defaults Upon Senior Securities

(a) None.

(b) None.

Item 4. Mine Safety Disclosures

Not applicable.

Item 5. Other Information.

(a)	On April 26, 2019 the Board of Directors of Leader Hill Corp. (the “Company”) approved the dismissal of TAAD, LLP (“TAAD”) as the independent registered public accounting firm of the Company, effective immediately. Form 8-K was filed with the Securities and Exchange Commission on April 29, 2019.
	On May 3, 2019, concurrent with the dismissal of TAAD, LLP (“TAAD”), the Company, upon the Board of Directors’ approval, engaged Total Asia Associates PLT (“Total Asia”) as the Company’s independent registered public accounting firm. Form 8-K was filed with the Securities and Exchange Commission on May 6, 2019.
(b)	None.

Item 6. Exhibits

31.1	Rule 13(a)-14(a) / 15(d)-14(a) Certification of principal executive officer and principal financial officer
32.1	Section 1350 Certification of principal executive officer and principal financial officer

16

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	LEADER HILL CORPORATION
	(Name of Registrant)
Date: July 14, 2019
	By:	/s/ Seah Chia Yee
	Name:	Seah Chia Yee
	Title:	Chief Executive Officer, President, Director (Principal Executive Officer, Principal Financial Officer, Principal Accounting Officer)

17

EX-31.1

EXHIBIT 31.1

CERTIFICATION

I, Seah Chia Yee, certify that:

1. I have reviewed this quarterly report on Form 10-Q of LEADER HILL CORP (the “Company”) for the quarter ended May 31, 2019;

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

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

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

a.	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b.	Designed such internal control over financial reporting, or caused such internal control to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles.
c.	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
d.	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a.	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
b.	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: July 14, 2019	By:	/s/ Seah Chia Yee
		Seah Chia Yee
		Chief Executive Officer, President, Treasurer Director
		(Principal Executive Officer, Principal Financial Officer, Principal Accounting Officer)

EX-32.1

EXHIBIT 32.1

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of LEADER HILL CORP (the “Company”) on Form 10-Q for the period ended May 31, 2019 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), The undersigned hereby certifies, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 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 result of operations of the Company.

Date: July 14, 2019	By:	/s/ Seah Chia Yee
		Seah Chia Yee
		Chief Executive Officer, President, Treasurer Director
		(Principal Executive Officer, Principal Financial Officer, Principal Accounting Officer)

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

XML

Document and Entity Information - shares	6 Months Ended
	May 31, 2019	Jul. 14, 2019
Document And Entity Information
Entity Registrant Name	Leader Hill Corp
Entity Central Index Key	0001723187
Document Type	10-Q
Document Period End Date	May 31, 2019
Amendment Flag	false
Current Fiscal Year End Date	--11-30
Entity Reporting Status Current	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		4,825,000
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2019

XML

Condensed Balance Sheets - USD ($)	May 31, 2019	Nov. 30, 2018
Current assets:
Cash and cash equivalents	$ 531	$ 24,761
Prepayment	40,100	40,100
Total current assets	40,631	64,861
Non-current assets
Plant and equipment, net	1,995	2,266
Total non-current assets	1,995	2,266
TOTAL ASSETS	42,626	67,127
Current liabilities
Loan from director	13,159	23,738
Accrued expenses	44,075	49,500
Deferred revenue	2,800	5,600
Total current liabilities	60,034	78,838
TOTAL LIABILITIES	60,034	78,838
STOCKHOLDERS' DEFICIT
Preferred stock, $0.001 par value; 0 shares authorized; None issued and outstanding
Common stock, $ 0.001 par value; 75,000,000 shares authorized; 4,825,000 shares issued and outstanding as of May 31, 2019 and November 30, 2018, respectively	4,825	4,825
Additional paid-in capital	32,175	32,175
Accumulated other comprehensive loss	(1,493)	(1,629)
Accumulated deficit	(52,915)	(47,082)
TOTAL STOCKHOLDERS' DEFICIT	(17,408)	(11,711)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 42,626	$ 67,127

XML

Condensed Balance Sheets (Parenthetical) - $ / shares	May 31, 2019	Nov. 30, 2018
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	0	0
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	4,825,000	4,825,000
Common stock, shares outstanding	4,825,000	4,825,000

XML

Condensed Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	May 31, 2019	May 31, 2018	May 31, 2019	May 31, 2018
Income Statement [Abstract]
REVENUE	$ 2,800		$ 2,800
COST OF REVENUE
GROSS PROFIT	2,800		2,800
OTHER INCOME
GENERAL AND ADMINISTRATIVE EXPENSES	(3,689)	(9,649)	(8,633)	(10,373)
LOSS BEFORE INCOME TAX	(889)	(9,649)	(5,833)	(10,373)
INCOME TAX PROVISION
NET LOSS	(889)	(9,649)	(5,833)	(10,373)
Non Controlling Interest - Other comprehensive income/(loss):
- Foreign currency translation adjustment	(11)	(39)	136	(443)
Comprehensive loss	$ (900)	$ (9,688)	$ (5,697)	$ (10,817)
Net income/(loss) per share- Basic and diluted	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.00)
Weighted average number of common shares outstanding - Basic and diluted	4,825,000		4,825,000	4,000,000

XML

Condensed Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	May 31, 2019	May 31, 2018	May 31, 2019	May 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (889)	$ (9,649)	$ (5,833)	$ (10,373)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	135	103	271	205
Changes in operating assets and liabilities:
Accounts receivables				8,000
Accrued expenses			(5,425)	(23,000)
Deferred Revenue			(2,800)	2,800
Net cash (used in) operating activities			(13,787)	(22,368)
CASH FLOWS FROM FINANCING ACTIVITIES:
Loan from Director			(10,579)	23,166
Proceed from Share Issuance				4,000
Net cash (used in) / generated by financing activities			(10,579)	27,166
Effect of exchange rate changes on cash and cash equivalents			136	(443)
Net (decrease) / increase in cash and cash equivalents			(24,230)	4,335
Cash and cash equivalents, beginning of period			24,761
CASH AND CASH EQUIVALENTS, END OF PERIOD	$ 531	$ 4,335	531	4,335
SUPPLEMENTAL CASH FLOWS INFORMATION
Cash paid for income taxes
Cash paid for interest paid

XML

Organization and Business Background

6 Months Ended

May 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Business Background

1. ORGANIZATION AND BUSINESS BACKGROUND

Leader Hill Corporation, a Nevada corporation (“the Company”) was incorporated under the laws of the State of Nevada on August 21, 2017.

We, Leader Hill Corporation (“the Company”), are an early stage business consulting company that intends to assist start-up to midsize companies in the East Asia region, with a focus on mainland China and Hong Kong, to operate their businesses more cost effectively through our multifaceted consulting services.

The Company’s executive office is located at Flat 1204 Block B, Mei Li Yuan, Hong Ling Middle Road, Luohu, Shenzhen 518000 China.

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying financial statements, for the six months ended and as at May 31, 2019, the Company incurred a net loss of $5,833 which arrives at accumulated deficit of $52,915. These factors raise substantial doubt about the Company’s ability to continue as a going concern within one year of the date that the financial statements are issued. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

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Summary of Significant Accounting Policies

6 Months Ended

May 31, 2019

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of presentation

The financial statements for Leader Hill Corporation are prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). The Company has adopted November 30 as its fiscal year end.

Use of estimates

Management uses estimates and assumptions in preparing these financial statements in accordance with US GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities in the balance sheets, and the reported revenue and expenses during the periods reported. Actual results may differ from these estimates.

Revenue from services

The Company adopted Accounting Standards Codification (“ASC”) 606. ASC 606, Revenue from Contracts with Customers, establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity’s contracts to provide goods or services to customers. The core principle requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services recognized as performance obligations are satisfied.

The Company has assessed the impact of the guidance by performing the following five steps analysis:

Step 1: Identify the contract

Step 2: Identify the performance obligations

Step 3: Determine the transaction price

Step 4: Allocate the transaction price

Step 5: Recognize revenue

Based on the assessment, the Company concluded that there was no change to the timing and pattern of revenue recognition for its current revenue streams in scope of Topic 606 and therefore there were no material changes to the Company’s consolidated financial statements upon adoption of ASC 606.

Revenue is measured at the fair value of the consideration received or receivable, net of discounts and taxes applicable to the revenue.

Revenue from supplies of consulting services is recognized when title and risk of loss are transferred and there are no continuing obligations to the customer. Title and the risks and rewards of ownership transfer to and accepted by the customer when the services are collected by the customer at the Company’s office. Revenue is recorded net of sales discounts, returns, allowances, and other adjustments that are based upon management’s best estimates and historical experience and are provided for in the same period as the related revenues are recorded. Based on limited operating history, management estimates that there was no sales return for the period reported.

The Company derives its revenue from direct sales to individuals and business companies. Generally, the Company recognizes revenue when services are sold and accepted by the customers and there are no continuing obligations to the customer.

For the six months ended May 31, 2019, the Company has realized a revenue of $2,800 through providing accounting and advisory related services to customers.

General and administrative expenses

For the three and six months ended May 31, 2019, the company has incurred general and administrative expenses of $3,689 and $8,633 respectively, which consist of mainly financial statement review, transfer agent fee and legal fees.

For the three and six months ended May 31, 2018, the company has incurred general and administrative expenses of $9,649 and $10,373 respectively, which consist of mainly company incorporation fee, audit fee and professional fees.

Cash and cash equivalents

Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments.

The company has a cash and cash equivalents of $531 and $24,761 as of May 31, 2019 and November 30, 2018 respectively.

Deferred Revenue

For service contracts where the performance obligation is not completed, deferred revenue is recorded for any payments received in advance of the performance obligation.

	As of  May 31, 2019		As of  November 30, 2018
	(Unaudited)		(Audited)
Deferred revenue	$	2,800	$	5,600

For the six months ended May 31, 2019, the Company has realized a revenue previously categorized as current liability amounted to $2,800 upon the completion of company incorporation services.

Accounts receivable

Accounts receivable are recorded at the invoiced amount less an allowance for any uncollectible accounts and do not bear interest, which are due on demand. Management reviews the adequacy of the allowance for doubtful accounts on an ongoing basis, using historical collection trends and aging of receivables. Management also periodically evaluates individual customer’s financial condition, credit history, and the current economic conditions to make adjustments in the allowance when it is considered necessary. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote.

Plant and equipment

Plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis over the following expected useful lives from the date on which they become fully operational:

Categories	Estimated useful life
Office equipment	5 years

Expenditures for maintenance and repairs are expensed as incurred. The gain or loss on the disposal of plant and equipment is the difference between the net sales proceeds and the carrying amount of the relevant assets and is recognized in the statement of operations.

The company has incurred depreciation expenses of $135 and $271 for the three months and six months ended May 31, 2019 respectively.

For the three and six months ended May 31, 2018, the company has incurred $103 and $205 of depreciation expenses respectively.

Going Concern

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying financial statements, for the six months ended May 31, 2019, the Company incurred a net loss of $5,833 which arrives at accumulated deficit of $52,915 and no revenue has been generated. These factors raise substantial doubt about the Company’s ability to continue as a going concern within one year of the date that the financial statements are issued. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

The Company’s ability to continue as a going concern is dependent upon improving its profitability and the continuing financial support from its shareholders. Management believes the existing shareholders or external financing will provide the additional cash to meet the Company’s obligations as they become due. No assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able to obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stockholders, in the case of equity financing.

Net income/(loss) per share

The Company calculates net income/(loss) per share in accordance with ASC Topic 260, “Earnings per Share.” Basic income/(loss) per share is computed by dividing the net income/(loss) by the weighted-average number of common shares outstanding during the period. Diluted income per share is computed similar to basic income/(loss) per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common stock equivalents had been issued and if the additional common shares were dilutive.

Related parties

Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence.

Fair value of financial instruments:

The carrying value of the Company’s financial instruments: receivables and amount due to a director approximate at their fair values because of the short-term nature of these financial instruments.

The Company also follows the guidance of the ASC Topic 820-10, “Fair Value Measurements and Disclosures” (“ASC 820-10”), with respect to financial assets and liabilities that are measured at fair value. ASC 820-10 establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows:

Level 1: Observable inputs such as quoted prices in active markets;

Level 2: Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and

Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

Recent accounting pronouncements

In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) (ASU 2014-09), which amends the existing accounting standards for revenue recognition. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, which delays the effective date of ASU 2014-09 by one year. The FASB also agreed to allow entities to choose to adopt the standard as of the original effective date. In March 2016, the FASB issued Accounting Standards Update No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net) (ASU 2016-08) which clarifies the implementation guidance on principal versus agent considerations. The guidance includes indicators to assist an entity in determining whether it controls a specified good or service before it is transferred to the customers. The new standard further requires new disclosures about contracts with customers, including the significant judgments the company has made when applying the guidance. We will adopt the new standard effective December 1, 2018, using the modified retrospective transition method.

In June 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-10, “Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation,” (“ASU 2014-10”). ASU 2014-10 removes the definition of a development stage entity from the ASC, thereby removing the financial reporting distinction between development stage entities and other reporting entities from GAAP. In addition, ASU 2014-10 eliminates the requirements for development stage entities to (1) present inception-to-date information in the statements of operations, cash flows, and stockholders’ equity, (2) label the financial statements as those of a development stage entity, (3) disclose a description of the development stage activities in which the entity is engaged, and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage. ASU 2014-10 is effective for annual reporting periods beginning after December 15, 2014, and interim periods therein. Early adoption is permitted. The Company has elected to adopt ASU 2014-10 effective with this registration statement on Form S-1 and its adoption resulted in the removal of previously required development stage disclosures.

In October 2016, the FASB issued Accounting Standards Update No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers Other than Inventory (ASU 2016-16), which requires companies to recognize the income-tax consequences of an intra-entity transfer of an asset other than inventory. This guidance will be effective for us in the first quarter of 2018, with the option to adopt it in the first quarter of 2017. We currently anticipate adopting the new standard effective January 1, 2018, and do not expect the standard to have a material impact on our financial statements.

In November 2016, the FASB issued Accounting Standards Update No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (ASU 2016-18), which requires companies to include amounts generally described as restricted cash and restricted cash equivalents in cash and cash equivalents when reconciling beginning-of-period and end-of-period total amounts shown on the statement of cash flows. This guidance will be effective for us in the first quarter of 2018 and early adoption is permitted. We are still evaluating the effect that this guidance will have on our financial statements and related disclosures.

The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.

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Going Concern Uncertainties

6 Months Ended

May 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Going Concern Uncertainties

3. GOING CONCERN UNCERTAINTIES

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The company having accumulated deficit of $52,915 and $47,082 as of May 31, 2019 and November 30, 2018 respectively.

For six months ended May 31, 2019 and 2018, the company has incurred a net loss of $5,833.

The Company’s cash position is not significant to support the Company’s daily operations. While the Company believes in the viability of its strategy and in its ability to raise additional funds, there can be no assurances to that effect. The Company’s ability to continue as a going concern is dependent upon its ability to improve profitability and the ability to acquire financial support from its shareholder.

These and other factors raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that financial statements are issued. These financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result in the Company not being able to continue as a going concern.

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Amount Due to a Director

6 Months Ended

May 31, 2019

Related Party Transactions [Abstract]

Amount Due to a Director

4. AMOUNT DUE TO A DIRECTOR

As of May 31, 2019, and November 30, 2018, the company has a loan from sole director of $13,159 and $23,738 respectively, which is unsecured and non-interest bearing with no fixed terms of repayment.

For the six months period ended May 31, 2019, the company has repaid $14,000 outstanding loan to the sole director and director has further advance $3,421 for the settlement of audit fee for previous quarter and this quarter transfer agent fee.

Currently, our office is provided by our director, Seah Chia Yee, without charge.

Our director, Seah Chia Yee, has not been compensated for the services.

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Prepayment

6 Months Ended

May 31, 2019

Prepayments Abstract

Prepayment

5. PREPAYMENT

As of May 31, 2019, and November 30, 2018, the company has a prepayment of $40,100 represented an outstanding prepaid service fee.

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Property and Equipment, Net

6 Months Ended

May 31, 2019

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

6. PROPERTY AND EQUIPMENT, NET

	As of May 31, 2019			As of November 30, 2018
	(Unaudited)			(Audited)
Office equipment	$	2,709		$	2,709
		2,709			2,709
Less: Accumulated depreciation		(714	)		(443	)
Total	$	1,995		$	2,266

The company has incurred depreciation expenses of $135 and $271 for the three months and six months ended May 31, 2019 respectively.

For the three and six months ended May 31, 2018, the company has incurred $103 and $205 of depreciation expenses respectively.

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Accrued Expenses

6 Months Ended

May 31, 2019

Payables and Accruals [Abstract]

Accrued Expenses

7. ACCRUED EXPENSES

As at May 31, 2019, the company has an outstanding accrued expense as following:

	As of May 31, 2019		As of November 30, 2018
	(Unaudited)		(Audited)
Customer deposit	$	41,000	$	41,000
Accrued audit fee		3,000		8,500
Accrued transfer agent fee		75		-
Total	$	44,075	$	49,500

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Concentration of Risk

6 Months Ended

May 31, 2019

Risks and Uncertainties [Abstract]

Concentration of Risk

8. CONCENTRATION OF RISK

For the three months ended May 31, 2019, the Company has realized a revenue of $2,800 from single customers.

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Common Stock

6 Months Ended

May 31, 2019

Equity [Abstract]

Common Stock

9. COMMON STOCK

On August 21, 2017, the Company issued 4,000,000 shares of restricted common stock, each with a par value of $0.001 per share, to Mr. Seah for initial working capital of $4,000.

From June 1, 2018 to August 31, 2018, the Company sold a total of 825,000 initial public offering shares to 33 shareholders, all of which reside in China, Hong Kong and Malaysia, at a price of $0.04 per share. The total proceeds to the Company amounted to a total of $33,000. The proceeds will be used as working capital.

As of May 31, 2019, we have authorized capital stock consisting of 75,000,000 shares of common stock, $0.001 par value per share of which 4,825,000 shares of common stock were issued and outstanding.

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Subsequent Events

6 Months Ended

May 31, 2019

Subsequent Events [Abstract]

Subsequent Events

10. SUBSEQUENT EVENTS

In accordance with ASC Topic 855, “Subsequent Events”, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued, the Company has evaluated all events or transactions that occurred after May 31, 2019 up through the date the Company issued the financial statements. No other events or transaction has occurred material to the knowledge of shareholders.

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Summary of Significant Accounting Policies (Policies)

6 Months Ended

May 31, 2019

Accounting Policies [Abstract]

Basis of Presentation

Basis of presentation

The financial statements for Leader Hill Corporation are prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). The Company has adopted November 30 as its fiscal year end.

Use of Estimates

Use of estimates

Management uses estimates and assumptions in preparing these financial statements in accordance with US GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities in the balance sheets, and the reported revenue and expenses during the periods reported. Actual results may differ from these estimates.

Revenue from Services

Revenue from services

The Company adopted Accounting Standards Codification (“ASC”) 606. ASC 606, Revenue from Contracts with Customers, establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity’s contracts to provide goods or services to customers. The core principle requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services recognized as performance obligations are satisfied.

The Company has assessed the impact of the guidance by performing the following five steps analysis:

Step 1: Identify the contract

Step 2: Identify the performance obligations

Step 3: Determine the transaction price

Step 4: Allocate the transaction price

Step 5: Recognize revenue

Based on the assessment, the Company concluded that there was no change to the timing and pattern of revenue recognition for its current revenue streams in scope of Topic 606 and therefore there were no material changes to the Company’s consolidated financial statements upon adoption of ASC 606.

Revenue is measured at the fair value of the consideration received or receivable, net of discounts and taxes applicable to the revenue.

Revenue from supplies of consulting services is recognized when title and risk of loss are transferred and there are no continuing obligations to the customer. Title and the risks and rewards of ownership transfer to and accepted by the customer when the services are collected by the customer at the Company’s office. Revenue is recorded net of sales discounts, returns, allowances, and other adjustments that are based upon management’s best estimates and historical experience and are provided for in the same period as the related revenues are recorded. Based on limited operating history, management estimates that there was no sales return for the period reported.

The Company derives its revenue from direct sales to individuals and business companies. Generally, the Company recognizes revenue when services are sold and accepted by the customers and there are no continuing obligations to the customer.

For the six months ended May 31, 2019, the Company has realized a revenue of $2,800 through providing accounting and advisory related services to customers.

General and Administrative Expenses

General and administrative expenses

For the three and six months ended May 31, 2019, the company has incurred general and administrative expenses of $3,689 and $8,633 respectively, which consist of mainly financial statement review, transfer agent fee and legal fees.

For the three and six months ended May 31, 2018, the company has incurred general and administrative expenses of $9,649 and $10,373 respectively, which consist of mainly company incorporation fee, audit fee and professional fees.

Cash and Cash Equivalents

Cash and cash equivalents

Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments.

The company has a cash and cash equivalents of $531 and $24,761 as of May 31, 2019 and November 30, 2018 respectively.

Deferred Revenue

Deferred Revenue

For service contracts where the performance obligation is not completed, deferred revenue is recorded for any payments received in advance of the performance obligation.

	As of  May 31, 2019		As of  November 30, 2018
	(Unaudited)		(Audited)
Deferred revenue	$	2,800	$	5,600

For the six months ended May 31, 2019, the Company has realized a revenue previously categorized as current liability amounted to $2,800 upon the completion of company incorporation services.

Accounts Receivable

Accounts receivable

Accounts receivable are recorded at the invoiced amount less an allowance for any uncollectible accounts and do not bear interest, which are due on demand. Management reviews the adequacy of the allowance for doubtful accounts on an ongoing basis, using historical collection trends and aging of receivables. Management also periodically evaluates individual customer’s financial condition, credit history, and the current economic conditions to make adjustments in the allowance when it is considered necessary. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote.

Plant and Equipment

Plant and equipment

Plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis over the following expected useful lives from the date on which they become fully operational:

Categories	Estimated useful life
Office equipment	5 years

Expenditures for maintenance and repairs are expensed as incurred. The gain or loss on the disposal of plant and equipment is the difference between the net sales proceeds and the carrying amount of the relevant assets and is recognized in the statement of operations.

The company has incurred depreciation expenses of $135 and $271 for the three months and six months ended May 31, 2019 respectively.

For the three and six months ended May 31, 2018, the company has incurred $103 and $205 of depreciation expenses respectively.

Going Concern

Going Concern

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying financial statements, for the six months ended May 31, 2019, the Company incurred a net loss of $5,833 which arrives at accumulated deficit of $52,915 and no revenue has been generated. These factors raise substantial doubt about the Company’s ability to continue as a going concern within one year of the date that the financial statements are issued. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

The Company’s ability to continue as a going concern is dependent upon improving its profitability and the continuing financial support from its shareholders. Management believes the existing shareholders or external financing will provide the additional cash to meet the Company’s obligations as they become due. No assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able to obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stockholders, in the case of equity financing.

Net Income/(Loss) Per Share

Net income/(loss) per share

The Company calculates net income/(loss) per share in accordance with ASC Topic 260, “Earnings per Share.” Basic income/(loss) per share is computed by dividing the net income/(loss) by the weighted-average number of common shares outstanding during the period. Diluted income per share is computed similar to basic income/(loss) per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common stock equivalents had been issued and if the additional common shares were dilutive.

Related Parties

Related parties

Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence.

Fair Value of Financial Instruments

Fair value of financial instruments:

The carrying value of the Company’s financial instruments: receivables and amount due to a director approximate at their fair values because of the short-term nature of these financial instruments.

The Company also follows the guidance of the ASC Topic 820-10, “Fair Value Measurements and Disclosures” (“ASC 820-10”), with respect to financial assets and liabilities that are measured at fair value. ASC 820-10 establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows:

Level 1: Observable inputs such as quoted prices in active markets;

Level 2: Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and

Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

Recent Accounting Pronouncements

Recent accounting pronouncements

In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) (ASU 2014-09), which amends the existing accounting standards for revenue recognition. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, which delays the effective date of ASU 2014-09 by one year. The FASB also agreed to allow entities to choose to adopt the standard as of the original effective date. In March 2016, the FASB issued Accounting Standards Update No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net) (ASU 2016-08) which clarifies the implementation guidance on principal versus agent considerations. The guidance includes indicators to assist an entity in determining whether it controls a specified good or service before it is transferred to the customers. The new standard further requires new disclosures about contracts with customers, including the significant judgments the company has made when applying the guidance. We will adopt the new standard effective December 1, 2018, using the modified retrospective transition method.

In June 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-10, “Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation,” (“ASU 2014-10”). ASU 2014-10 removes the definition of a development stage entity from the ASC, thereby removing the financial reporting distinction between development stage entities and other reporting entities from GAAP. In addition, ASU 2014-10 eliminates the requirements for development stage entities to (1) present inception-to-date information in the statements of operations, cash flows, and stockholders’ equity, (2) label the financial statements as those of a development stage entity, (3) disclose a description of the development stage activities in which the entity is engaged, and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage. ASU 2014-10 is effective for annual reporting periods beginning after December 15, 2014, and interim periods therein. Early adoption is permitted. The Company has elected to adopt ASU 2014-10 effective with this registration statement on Form S-1 and its adoption resulted in the removal of previously required development stage disclosures.

In October 2016, the FASB issued Accounting Standards Update No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers Other than Inventory (ASU 2016-16), which requires companies to recognize the income-tax consequences of an intra-entity transfer of an asset other than inventory. This guidance will be effective for us in the first quarter of 2018, with the option to adopt it in the first quarter of 2017. We currently anticipate adopting the new standard effective January 1, 2018, and do not expect the standard to have a material impact on our financial statements.

In November 2016, the FASB issued Accounting Standards Update No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (ASU 2016-18), which requires companies to include amounts generally described as restricted cash and restricted cash equivalents in cash and cash equivalents when reconciling beginning-of-period and end-of-period total amounts shown on the statement of cash flows. This guidance will be effective for us in the first quarter of 2018 and early adoption is permitted. We are still evaluating the effect that this guidance will have on our financial statements and related disclosures.

The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.

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Summary of Significant Accounting Policies (Tables)

6 Months Ended

May 31, 2019

Accounting Policies [Abstract]

Schedule of Deferred Revenue

	As of  May 31, 2019		As of  November 30, 2018
	(Unaudited)		(Audited)
Deferred revenue	$	2,800	$	5,600

Schedule of Property and Equipment Expected Useful Lives

Depreciation is calculated on the straight-line basis over the following expected useful lives from the date on which they become fully operational:

Categories	Estimated useful life
Office equipment	5 years

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Property and Equipment, Net (Tables)

6 Months Ended

May 31, 2019

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment, Net

	As of May 31, 2019			As of November 30, 2018
	(Unaudited)			(Audited)
Office equipment	$	2,709		$	2,709
		2,709			2,709
Less: Accumulated depreciation		(714	)		(443	)
Total	$	1,995		$	2,266

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Accrued Expenses (Tables)

6 Months Ended

May 31, 2019

Payables and Accruals [Abstract]

Schedule of Accrued Expenses

As at May 31, 2019, the company has an outstanding accrued expense as following:

	As of May 31, 2019		As of November 30, 2018
	(Unaudited)		(Audited)
Customer deposit	$	41,000	$	41,000
Accrued audit fee		3,000		8,500
Accrued transfer agent fee		75		-
Total	$	44,075	$	49,500

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Organization and Business Background (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	May 31, 2019	May 31, 2018	May 31, 2019	May 31, 2018	Nov. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss	$ (889)	$ (9,649)	$ (5,833)	$ (10,373)
Accumulated deficit	$ (52,915)		$ (52,915)		$ (47,082)

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Summary of Significant Accounting Policies (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	May 31, 2019	May 31, 2018	May 31, 2019	May 31, 2018	Nov. 30, 2018
Accounting Policies [Abstract]
Revenues	$ 2,800		$ 2,800
General and administrative expenses	3,689	9,649	8,633	10,373
Cash and cash equivalents	531		531		$ 24,761
Realized revenue previously categorized as current liability			2,800
Depreciation expenses	135	103	271	205
Net loss	(889)	$ (9,649)	(5,833)	$ (10,373)
Accumulated deficit	$ (52,915)		$ (52,915)		$ (47,082)

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Summary of Significant Accounting Policies - Schedule of Deferred Revenue (Details) - USD ($)	May 31, 2019	Nov. 30, 2018
Accounting Policies [Abstract]
Deferred revenue	$ 2,800	$ 5,600

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Summary of Significant Accounting Policies - Schedule of Property and Equipment Expected Useful Lives (Details)	6 Months Ended
	May 31, 2019
Office Equipment [Member]
Estimated useful lives	5 years

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Going Concern Uncertainties (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	May 31, 2019	May 31, 2018	May 31, 2019	May 31, 2018	Nov. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ (52,915)		$ (52,915)		$ (47,082)
Net loss	$ (889)	$ (9,649)	$ (5,833)	$ (10,373)

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Amount Due to a Director (Details Narrative) - USD ($)	6 Months Ended
	May 31, 2019	Nov. 30, 2018
Related Party Transactions [Abstract]
Loan from director	$ 13,159	$ 23,738
Repaid outstanding loan from director	14,000
Related party advance	$ 3,421

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Prepayment (Details Narrative) - USD ($)	May 31, 2019	Nov. 30, 2018
Prepayments Abstract
Prepayment paid for service fee	$ 40,100	$ 40,100

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Property and Equipment, Net (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	May 31, 2019	May 31, 2018	May 31, 2019	May 31, 2018
Property, Plant and Equipment [Abstract]
Depreciation	$ 135	$ 103	$ 271	$ 205

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Property and Equipment, Net - Schedule of Property and Equipment, Net (Details) - USD ($)	May 31, 2019	Nov. 30, 2018
Property and equipment, gross	$ 2,709	$ 2,709
Less: Accumulated depreciation	(714)	(443)
Total	1,995	2,266
Office Equipment [Member]
Property and equipment, gross	$ 2,709	$ 2,709

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Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($)	May 31, 2019	Nov. 30, 2018
Payables and Accruals [Abstract]
Customer deposit	$ 41,000	$ 41,000
Accrued audit fee	3,000	8,500
Accrued transfer agent fee	75
Total	$ 44,075	$ 49,500

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Concentration of Risk (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	May 31, 2019	May 31, 2018	May 31, 2019	May 31, 2018
Risks and Uncertainties [Abstract]
Revenues	$ 2,800		$ 2,800

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Common Stock (Details Narrative) - USD ($)		3 Months Ended
	Aug. 21, 2017	Aug. 31, 2018	May 31, 2019	Nov. 30, 2018
Common stock, shares authorized			75,000,000	75,000,000
Common stock, par value			$ 0.001	$ 0.001
Common stock, shares issued			4,825,000	4,825,000
Common stock, shares outstanding			4,825,000	4,825,000
33 Shareholders [Member]
Shares issued price per share		$ 0.04
Number of shares offering during period		825,000
Number of shares offering during period, values		$ 33,000
Restricted Stock [Member]
Number of restricted common shares issued during period	4,000,000
Shares issued price per share	$ 0.001
Number of restricted common shares issued during period, value	$ 4,000