0001078782-18-000659.txt : 20180628 0001078782-18-000659.hdr.sgml : 20180628 20180628152033 ACCESSION NUMBER: 0001078782-18-000659 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 45 CONFORMED PERIOD OF REPORT: 20180331 FILED AS OF DATE: 20180628 DATE AS OF CHANGE: 20180628 FILER: COMPANY DATA: COMPANY CONFORMED NAME: RemSleep Holdings Inc. CENTRAL INDEX KEY: 0001412126 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PERSONAL SERVICES [7200] IRS NUMBER: 383759675 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-53450 FILM NUMBER: 18925192 BUSINESS ADDRESS: STREET 1: 37 N. ORANGE AVE, SUITE 609 CITY: ORLANDO STATE: FL ZIP: 32789 BUSINESS PHONE: (912) 590-2001 MAIL ADDRESS: STREET 1: 37 N. ORANGE AVE, SUITE 609 CITY: ORLANDO STATE: FL ZIP: 32789 FORMER COMPANY: FORMER CONFORMED NAME: OBICOM, INC. DATE OF NAME CHANGE: 20140602 FORMER COMPANY: FORMER CONFORMED NAME: Kat Gold Holdings Corp. DATE OF NAME CHANGE: 20100809 FORMER COMPANY: FORMER CONFORMED NAME: Bella Viaggio, Inc. DATE OF NAME CHANGE: 20070911 10-Q 1 f10q033118_10q.htm FORM 10Q QUARTERLY REPORT Form 10Q Quarterly Report

 

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 March 31, 2018

 

Commission file number: 000-53450

 

REMSLEEP HOLDINGS, INC.

(Name of registrant as specified in its charter)

 

Nevada

 

47-5386867

(State or other jurisdiction of incorporation or organization)

 

(I.R.S. Employer Identification No.)

 

637 N. Orange Ave, Suite 609, Orlando, FL 32789

(Address of principal executive offices) (Zip Code)

 

912-590-2001

(Registrant’s telephone number, including area code)

 

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [   ]

 

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

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, 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

[   ]

 

 

 

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

 

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

 

As of June 26, 2018, there were 5,875,894 shares of common stock outstanding.


TABLE OF CONTENTS

 

 

 

 

 

Page No.

PART I. - FINANCIAL INFORMATION

 

 

 

 

 

Item 1.

 

Financial Statements.

 

3

 

 

 

 

 

Item 2.

 

Management’s Discussion and Analysis of Financial Condition and Plan of Operations.

 

10

 

 

 

 

 

Item 3.

 

Quantitative and Qualitative Disclosures About Market Risk.

 

12

 

 

 

 

 

Item 4

 

Controls and Procedures.

 

12

 

 

 

 

 

PART II - OTHER INFORMATION

 

 

 

 

 

Item 1.

 

Legal Proceedings.

 

13

 

 

 

 

 

Item 1A.

 

Risk Factors.

 

13

 

 

 

 

 

Item 2.

 

Unregistered Sales of Equity Securities and Use of Proceeds.

 

13

 

 

 

 

 

Item 3.

 

Defaults Upon Senior Securities.

 

13

 

 

 

 

 

Item 4.

 

Mine Safety Disclosures

 

13

 

 

 

 

 

Item 5.

 

Other Information.

 

13

 

 

 

 

 

Item 6.

 

Exhibits.

 

14

 

 

 

 

 

Signatures

 

 

 

14


2


PART I - FINANCIAL INFORMATION

 

 

ITEM 1. FINANCIAL STATEMENTS

 

REMSLEEP HOLDINGS, INC.

 

 

 

Condensed Balance Sheets as of March 31, 2018 (Unaudited) and December 31, 2017 (Audited)

4

 

 

Condensed Statements of Operations for the Three Months ended March 31, 2018 and 2017 (Unaudited)

5

 

 

Condensed Statements of Cash Flows for the Three Months ended March 31, 2018 and 2017 (Unaudited)

6

 

 

Condensed Notes to Financial Statements (Unaudited)

7

 

 


3


 

 

REMSLEEP HOLDINGS, INC.

CONDENSED BALANCE SHEETS

 

 

March 31,

2018

 

 

December 31,

2017

ASSETS

 

(Unaudited)

 

 

 

Current assets:

 

 

 

 

 

Cash

$

52,261

 

$

2,014

Prepaid stock for services

 

57,761

 

 

173,282

Total current assets

 

110,022

 

 

175,296

Property and equipment, net

 

7,970

 

 

8,486

 

 

 

 

 

 

Total Assets

$

117,992

 

$

183,782

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

 

 

 

 

 

 

 

 

 

 

 

Current Liabilities:

 

 

 

 

 

Accounts payable

$

242,898

 

$

239,878

Accrued compensation

 

1,150

 

 

2,850

Accrued interest

 

12,957

 

 

12,341

Accrued stock to be issued

 

-

 

 

194,068

Due to shareholder

 

182,191

 

 

182,191

Loan payable

 

50,000

 

 

50,000

 

 

 

 

 

 

Total Liabilities

 

489,196

 

 

681,328

 

 

 

 

 

 

STOCKHOLDERS' EQUITY (DEFICIT)

 

 

 

 

 

 

 

 

 

 

 

Series A preferred stock, no par value, 5,000,000 shares authorized, 3,500,000 and 3,500,000 issued and outstanding, respectively

 

105,000

 

 

105,000

Series B preferred stock, no par value, 5,000,000 shares authorized, no shares issued

 

-

 

 

-

Series C preferred stock, no par value, 5,000,000 shares authorized, no shares issued

 

-

 

 

-

Common stock, $.001 par value, 1,000,000,000 shares authorized, 3,937,894 and 3,610,751 shares issued and outstanding, respectively

 

 

 

 

 

 

3,938

 

 

3,611

Common stock to be issued

 

269,188

 

 

58,225

Additional paid in capital

 

502,111

 

 

424,938

Accumulated Deficit

 

(1,251,441)

 

 

(1,089,320)

TOTAL STOCKHOLDERS' DEFICIT

 

(371,204)

 

 

(497,546)

 

 

 

 

 

 

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

$

117,992

 

$

183,782

 

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


4


REMSLEEP HOLDINGS, INC.

CONDENSED STATEMENTS OF OPERATIONS

(UNAUDITED)

 

 

For the Three Months Ended

March 31,

 

 

2018

 

 

2017

 

 

 

 

 

(Restated)

Operating Expenses:

 

 

 

 

 

Professional fees

$

16,150

 

$

12,600

Consulting

 

117,521

 

 

146,979

Officer compensation

 

6,000

 

 

6,000

General and administrative

 

4,939

 

 

7,024

 

 

 

 

 

 

Total operating expenses

 

144,610

 

 

172,603

 

 

 

 

 

 

Loss from operations

 

(144,610)

 

 

(172,603)

 

 

 

 

 

 

Other expenses:

 

 

 

 

 

Interest expense

 

(616)

 

 

-

Change in fair value

 

(16,895)

 

 

-

Total other expense

 

(17,511)

 

 

-

 

 

 

 

 

 

Loss before income taxes

 

(162,121)

 

 

(172,603)

 

 

 

 

 

 

Provision for income taxes

 

-

 

 

-

 

 

 

 

 

 

Net Loss

$

(162,121)

 

$

(172,603)

 

 

 

 

 

 

Basic and fully diluted net loss per share

$

(0.04)

 

$

(0.05)

 

 

 

 

 

 

Weighted average common shares outstanding, basic and diluted

 

3,678,577

 

 

3,285,584

 

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


5


REMSLEEP HOLDINGS, INC.

CONDENSED STATEMENTS OF CASH FLOWS

(UNAUDITED)

 

 

 

 

 

 

 

 

For the Three Months Ended

March 31,

 

 

2018

 

 

2017

Cash Flows from Operating Activities:

 

 

 

 

(Restated)

Net loss

$

(162,121)

 

$

(172,603)

Adjustments to reconcile net loss to net cash used in operations:

 

 

 

 

 

Depreciation expense

 

516

 

 

2,810

Stock issued for services

 

115,521

 

 

146,979

Change in fair value

 

16,895

 

 

-

Changes in Operating Assets and Liabilities

 

 

 

 

 

Accounts Payable

 

3,020

 

 

1,380

Accrued officer compensation

 

(1,700)

 

 

2,000

Accrued interest

 

616

 

 

-

Net cash used in operating activities

 

(27,253)

 

 

(19,434)

 

 

 

 

 

 

Cash Flows from Investing Activities:

 

-

 

 

-

 

 

 

 

 

 

Cash Flows from Financing Activities:

 

 

 

 

 

Proceeds from shareholder advances

 

-

 

 

19,434

Proceeds from sale of common stock

 

77,500

 

 

-

Net cash provided by financing activities

 

77,500

 

 

19,434

 

 

 

 

 

 

Net increase in cash

 

50,247

 

 

-

Cash at beginning of the period

 

2,014

 

 

-

Cash at end of the period

$

52,261

 

$

-

 

 

 

 

 

 

Supplemental cash flow information:

 

 

 

 

 

Interest paid in cash

$

-

 

$

-

Taxes paid

$

-

 

$

-

 

 

 

 

 

 

Supplemental non-cash disclosure:

 

 

 

 

 

Stock issued for services

$

115,521

 

$

146,979

 

 

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


6


REMSLEEP HOLDINGS, INC.

NOTES TO UNAUDITED FINANCIAL STATEMENTS

March 31, 2018

 

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Business Activity

 

REMSleep Holdings, Inc., (the “Company”) was incorporated in the State of Nevada on June 6, 2007. Following its acquisition of Handcamp on June 4, 2010, a gold property located in the Province of Newfoundland and Labrador, Canada (“Handcamp”), the Company changed its business model to that of a mineral acquisition, exploration and development company focused primarily on gold properties. On August 26, 2010, the Company’s name was changed from Bella Viaggio, Inc. to Kat Gold Holdings Corp. On January 5, 2015 the name of the Company was changed to REMSleep Holdings, Inc. and the business model was changed to reflect the new direction of the Company; to develop and distribute products to help people affected by sleep apnea. On May 30, 2015 REMSleep LLC was formerly merged into REMSleep Holdings, Inc.

 

Basis of Presentation

 

These unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”). These financial statements and the notes attached hereto should be read in conjunction with the financial statements and notes included in the Company’s 10-K for its fiscal year ended December 31, 2017. In the opinion of the Company, all adjustments, including normal recurring adjustments necessary to present fairly the financial position of the Company, as of March 31, 2018 and the results of its operations and cash flows for the three-month periods then ended have been included. The results of operations for the interim period are not necessarily indicative of the results for the full year.

 

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 revenues and expenses during the reporting periods. Actual results could differ from those estimates.

 

Reclassifications

 

Certain reclassifications have been made to the prior period financial information to conform to the presentation used in the restated financial statements for the three months ended March 31, 2018.

 

Recent Accounting Pronouncements

 

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

 

NOTE 2 - GOING CONCERN

 

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has an accumulated deficit of $1,251,441 at March 31, 2018, had a net loss of $162,121 and net cash used in operating activities of $27,253 for the three months ended March 31, 2018. The Company’s ability to raise additional capital through the future issuances of common stock and/or debt financing is unknown. The obtainment of additional financing, the successful development of the Company’s contemplated plan of operations, and its transition, ultimately, to the attainment of profitable operations are necessary for the Company to continue operations. These conditions and the ability to successfully resolve these factors over the next twelve months raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements of the Company do not include any adjustments that may result from the outcome of these aforementioned uncertainties.


7


REMSLEEP HOLDINGS, INC.

NOTES TO UNAUDITED FINANCIAL STATEMENTS

March 31, 2018

 

NOTE 3 - PROPERTY & EQUIPMENT

 

Long lived assets, including property and equipment and certain intangible assets to be held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of the assets may not be recoverable. Impairment losses are recognized if expected future cash flows of the related assets are less than their carrying values. Measurement of an impairment loss is based on the fair value of the asset. Long-lived assets and certain identifiable intangibles to be disposed of are reported at the lower of carrying amount or fair value less cost to sell.

 

Property and Equipment and intangible assets are first recorded at cost. Depreciation and/or amortization is computed using the straight-line method over the estimated useful lives of the various classes of assets as follows between three and five years.

 

Maintenance and repair expenses, as incurred, are charged to expense. Betterments and renewals are capitalized in plant and equipment accounts. Cost and accumulated depreciation applicable to items replaced or retired are eliminated from the related accounts with any gain or loss on the disposition included as income.

 

Assets stated at cost, less accumulated depreciation consisted of the following:

 

 

 

March 31, 2018

 

 

December 31, 2017

Equipment

$

14,904

 

$

14,904

Less: accumulated depreciation

 

(6,934)

 

 

(6,418)

Fixed assets, net

$

7,970

 

$

8,486

 

Depreciation expense

 

Depreciation expense for the three months ended March 31, 2018 and 2017 was $516 and $2,810, respectively.

 

NOTE 4 – NOTES PAYABLE

 

On October 24, 2017, the Company was notified that a petition had been filed in the Iowa District Court for Polk County by a Mr. John M. Wesson for failure to repay a loan. Mr. Wesson had loaned the Company $30,000 and $20,000 on October 24, 2012 and June 12, 2013, respectively. The loans were to accrue interest at 5%. While the Company was under previous management the loans were removed from the books in Q1 of 2015. On April 26, 2018, the Company agreed to repay the loan in full including accrued interest and $5,000 for legal fees. The $50,000 plus $7,341 was booked to retained earnings in 2016 as a correction of an error. As of March 31, 2018, there is $12,957 of interest accrued on the loan.

 

NOTE 5 - COMMON STOCK

 

On November 16, 2017, the Company issued, as compensation for services provided, 1,087,261 common shares with a fair value of $0.2125 per share for total non-cash expense of $231,043. The expense is being recognized over the six-month term of the contract. As of December 31, 2017, $57,761 has been debited to consulting expense. In addition, as of December 31, 2017, the shares have not yet been issued; as a result, $36,975 has been credited to common stock to be issued and the remaining $194,068 to accruals. As of March 31, 2018, the shares were re-valued at $0.231 for a change in value of $16,895. In addition, $115,521 was amortized to stock for services expense and the accrual for stock to be issued was reclassed to common stock to be issued in equity.

 

During the three months ended March 31, 2018, the Company sold 327,143 shares of common stock for total cash proceeds of $77,500.

 

NOTE 6 - PREFERRED STOCK

 

The Company is currently authorized to issue 5,000,000 Class A preferred shares, $0.001 per value with 1:25 voting rights.

 

On February 25, 2016, the Company issued 2,000,000 Class A preferred shares. On April 26, 2016 the Company issued 1,500,000 Class A preferred shares. The fair value of the shares was based on the price quoted on the OTC pink sheets on the grant date for the common shares as the preferred shares have a preference of a 1 to 1 conversion to common stock. The Company recognized compensation expense to its officers. As of March 31, 2018, there are 3,500,000 Class A Preferred shares outstanding.


8


REMSLEEP HOLDINGS, INC.

NOTES TO UNAUDITED FINANCIAL STATEMENTS

March 31, 2018

 

NOTE 7 - RELATED PARTY TRANSACTIONS

 

The Company has received support from parties related through common ownership and directorship. All of the expenses herein have been borne by these individuals on behalf of the Company and are treated as shareholder loans. These loans are unsecured, non-interest bearing and due on demand. As of March 31, 2018, and December 31, 2017, the balance due on these loans is $182,191 and $182,191, respectively.

 

NOTE 8 – RESTATEMENT

 

The March 31, 2017 financial statements are being restated to revise the accounting for retroactive adjustments identified during the year ended December 31, 2017 audit.

 

The following table summarizes changes made to the three months ended March 31, 2017 Statement of Operations.

 

 

For the three months ended March 31, 2017

 

 

As Reported

 

Adjustment

 

As Restated

Operating expenses

$

58,212

$

114,391

$

172,603

Net Loss

$

(58,212)

$

(114,391)

$

(172,603)

 

NOTE 9 - SUBSEQUENT EVENTS

 

In accordance with SFAS 165 (ASC 855-10) management has performed an evaluation of subsequent events through the date that the financial statements were available to be issued, June 26, 2018 and has determined that it does not have any material subsequent events to disclose in these financial statements other then the following.

 

Subsequent to March 31, 2018, the Company granted 1,938,000 shares of common stock for services.

 

On April 27, 2018, the Company made a $10,000 payment as required by the Forbearance Agreement with regards to the Note Payable (Note 4).


9


ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND PLAN OF OPERATIONS.

 

Forward-looking Statements

 

There are “forward-looking statements” contained in this quarterly report. All statements that express expectations, estimates, forecasts or projections are forward-looking statements. In addition, other written or oral statements which constitute forward-looking statements may be made by us or on our behalf. Words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “project,” “forecast,” “may,” “should,” variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in or suggested by such forward-looking statements. We undertake no obligation to update or revise any of the forward-looking statements after the date of this quarterly report to conform forward-looking statements to actual results. Important factors on which such statements are based are assumptions concerning uncertainties, including but not limited to, uncertainties associated with the following:

 

Inadequate capital and barriers to raising the additional capital or to obtaining the financing needed to implement our business plans; 

Our failure to earn revenues or profits; 

Inadequate capital to continue business; 

Volatility or decline of our stock price; 

Potential fluctuation in quarterly results; 

Rapid and significant changes in markets; 

Litigation with or legal claims and allegations by outside parties; and 

Insufficient revenues to cover operating costs. 

 

The following discussion should be read in conjunction with the financial statements and the notes thereto which are included in this quarterly report. This discussion contains forward-looking statements that involve risks, uncertainties and assumptions. Our actual results may differ substantially from those anticipated in any forward-looking statements included in this discussion as a result of various factors.

 

Overview

 

We were incorporated in the State of Nevada on June 6, 2007. On August 26, 2010, we changed our name from Bella Viaggio, Inc. to Kat Gold Holdings Corp. Effective January 1, 2015, we entered into an exchange agreement to purchase 100% of the outstanding interests of RemSleep LLC in exchange for 50,000,000 common shares of RemSleep Holdings, Inc.’s stock (the “Exchange Agreement”). As a result of the exchange, RemSleep LLC became our wholly-owned subsidiary and constitutes our business and operations and we changed our name to REMSleep Holdings, Inc. to reflect our new business model of developing and distributing sleep apnea products.

 

Our officers have 35 years of sleep-industry experience, including working at sleep industry companies. Our officers invented our DeltaWave CPAP (continuous positive airway pressure) interface (the “DeltaWave”). We have developed the DeltaWave as an innovative new device to treat patients with sleep apnea. The patent-pending DeltaWave product is a nasal-pillows type interface designed to result in better comfort and, therefore, better compliance. The Delta Wave is specifically designed with unique airflow characteristics to enable patients with sleep apnea to breathe normally. A survey that appeared in DME Business found that 89% of patients stated that mask-interface comfort was their primary concern. The primary issue that we have addressed with the DeltaWave is the “work of breathing” component. We believe that our DeltaWave is designed to effectively address the stubborn issues that continue to affect a patient’s ability to comply with treatment, as follows:

 

Does not disrupt normal breathing mechanics; 

Is not claustrophobic; 

Causes zero work of breathing (WOB); 

Minimizes or eliminates drying of the sinuses; 

Uses less driving pressure; and 

Allows users to feel safe and secure while sleeping. 

 

We plan to conduct clinical trials to test product effectiveness.

 

Our goal is to develop sleep products that achieve optimum compliance and comfort for CPAP patients.


10


On June 28, 2016, we applied for a patent for a new, innovative sleep apnea product that serves as an interface for the delivery of CPAP therapy and other respiratory needs.

 

Our website is located at: http://www.remsleeptech.com.

 

Results of Operations

 

The three months ended March 31, 2018 compared to the three months ended March 31, 2017

 

Professional fees were $16,150 and $12,600 for the three months ended March 31, 2018 and 2017, respectively, an increase of $3,550, or 28.2%. Professional fees consist mostly of accounting, audit and legal fees.

 

Consulting expense was $117,521 and $146,979 for the three months ended March 31, 2018 and 2017, respectively, a decrease of $29,458, or 20.0%. In the current period we recognized $115,521 of non-cash stock compensation expense, In the previous period we issued 37,500 shares of common stock to consultants for total non-cash expense of $146,979.

 

Officer compensation was $6,000 and $6,000 for the three months ended March 31, 2018 and 2017, respectively.

 

General and administrative expense was $4,939 and $7,024 for the three months ended March 31, 2018 and 2017, respectively, a, decrease of $2,085, or 29.7%.

 

Net Loss

For the three months ended March 31, 2018, we had a net loss of $162,121 as compared to a net loss of $172,603 for the three months ended March 31, 2017. Our net loss was lower in the current period primarily due to the expense associated with issuing stock for services.

 

Going Concern

 

As of March 31, 2018, there is substantial doubt regarding our ability to continue as a going concern as we have not generated sufficient cash flow to fund our proposed business.

 

We have suffered recurring losses from operations since our inception. In addition, we have yet to generate an internal cash flow from our business operations or successfully raised the financing required to develop our proposed business. As a result of these and other factors, our independent auditor has expressed substantial doubt about our ability to continue as a going concern. Our future success and viability, therefore, are dependent upon our ability to generate capital financing. The failure to generate sufficient revenues or raise additional capital may have a material and adverse effect upon us and our shareholders.

 

Management’s plans with regard to these matters encompass the following actions: (i) obtaining funding from new investors to alleviate our working capital deficiency, and (ii) implementing a plan to generate sales. Our continued existence is dependent upon our ability to resolve our liquidity problems and increase profitability in our current business operations. However, the outcome of management’s plans cannot be ascertained with any degree of certainty. Our financial statements do not include any adjustments that might result from the outcome of these risks and uncertainties.

 

Liquidity and Capital Resources

 

Cash flow from operations.

 

Net cash flow used in operating activities for the three months ended March 31, 2018 was $27,253 as compared to $19,434 of net cash flows used in operating activities for the same period ended 2017.

 

Cash Flows from Financing

 

The net cash flows from financing activities for the three months ended March 31, 2018 were $77,500 from the sale of common stock as compared to $19,434 from related party loans for the same period ended 2017.


11


Off Balance Sheet Arrangements

 

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

 

Critical Accounting Policies

 

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 and the disclosure of contingent assets and liabilities of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Note 1 to the Financial Statements describes the significant accounting policies and methods used in the preparation of the Financial Statements. Estimates are used for, but not limited to, contingencies and taxes. Actual results could differ materially from those estimates. The following critical accounting policies are impacted significantly by judgments, assumptions, and estimates used in the preparation of the Financial Statements.

 

We are subject to various loss contingencies arising in the ordinary course of business. We consider the likelihood of loss or impairment of an asset or the incurrence of a liability, as well as our ability to reasonably estimate the amount of loss in determining loss contingencies. An estimated loss contingency is accrued when management concludes that it is probable that an asset has been impaired or a liability has been incurred and the amount of the loss can be reasonably estimated. We regularly evaluate current information available to us to determine whether such accruals should be adjusted.

 

We recognize deferred tax assets (future tax benefits) and liabilities for the expected future tax consequences of temporary differences between the book carrying amounts and the tax basis of assets and liabilities. The deferred tax assets and liabilities represent the expected future tax return consequences of those differences, which are expected to be either deductible or taxable when the assets and liabilities are recovered or settled. Future tax benefits have been fully offset by a 100% valuation allowance as management is unable to determine that it is more likely than not that this deferred tax asset will be realized.

 

Recent Accounting Pronouncements

 

We have reviewed all recently issued, but not yet effective, accounting pronouncements and do not believe that any future adoption of such pronouncements will have a material impact on our financial condition or the results of our operations.

 

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

 

Not Applicable

 

ITEM 4. CONTROLS AND PROCEDURES

 

Disclosure Controls and Procedures

 

Each of our principal executive and principal financial officer has evaluated the effectiveness of our disclosure controls and procedures, as defined in Rules 13a - 15(e) and 15d - 15(e) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), as of the end of the period covered by this quarterly report. Based on their evaluation, each such person concluded that our disclosure controls and procedures were not effective due to material weaknesses in our internal control over financial reporting as of March 31, 2018. Our management intends, during the 2018 fiscal year, to design and implement processes and procedures that will provide reasonable assurance regarding the reliability of our financial reporting and preparation of financial statements for external purposes in accordance with generally accepted accounting principles.

 

Changes in Internal Control over Financial Reporting.

 

Our management has evaluated whether any change in our internal control over financial reporting occurred during the last fiscal quarter. Based on that evaluation, management concluded that there has been no change in our internal control over financial reporting during the relevant period that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.


12


PART II - OTHER INFORMATION

 

ITEM 1. LEGAL PROCEEDINGS

 

None

 

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

 

During the three months ended March 31, 2018, the Company sold 327,143 shares of common stock for total cash proceeds of $77,500.

 

During April 2018, the Company granted 1,938,000 shares of common stock for services.

 

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

 

None

 

ITEM 4. MINE SAFETY DISCLOSURES

 

Not applicable.

 

ITEM 5. OTHER INFORMATION

 

None.


13


ITEM 6. EXHIBITS

 

(a) Documents furnished as exhibits hereto:

 

Exhibit No.

Description

 

 

31.1

Certification of the Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

31.2

Certification of the Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

32.1

Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

 

 

101.INS

XBRL Instance Document

101.SCH

XBRL Taxonomy Extension Schema Document

101.CAL

XBRL Taxonomy Calculation Linkbase Document

101.DEF

XBRL Taxonomy Extension Definition Linkbase Document

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XBRL Taxonomy Label Linkbase Document

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XBRL Taxonomy Presentation Linkbase Document

 

 

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.

 

 

REMSLEEP HOLDINGS CORP.

 

 

Date: June 28, 2018

By: /s/Tom Wood

 

Tom Wood

 

Principal Executive Officer/Principal Financial Officer/Director


14

EX-31.1 2 f10q033118_ex31z1.htm EXHIBIT 31.1 SECTION 302 CERTIFICATION Exhibit 31.1 Section 302 Certification

 

CERTIFICATION

 

I, Tom Wood, certify that:

 

1. I have reviewed this Form 10-Q for the quarter ended March 31, 2018 of REMSleep Holdings, Inc.:

 

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

 

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

 

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) 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 registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

 

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

 

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

 

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

 

June 28, 2018

 

/s/ Tom Wood

Tom Wood

Chief Executive Officer/Chief Financial Officer/Chief Accounting Officer

 

 

 

EX-31.2 3 f10q033118_ex31z2.htm EXHIBIT 31.2 SECTION 302 CERTIFICATION Exhibit 31.2 Section 302 Certification

 

CERTIFICATION

 

I, Tom Wood, certify that:

 

1. I have reviewed this Form 10-Q for the quarter ended March 31, 2018 of REMSleep Holdings, Inc.:

 

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

 

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

 

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) 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 registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

 

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

 

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

 

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

 

June 28, 2018

 

/s/ Tom Wood

Tom Wood

Chief Executive Officer/Chief Financial Officer/Chief Accounting Officer

 

 

 

EX-32.1 4 f10q033118_ex32z1.htm EXHIBIT 32.1 SECTION 906 CERTIFCATION Exhibit 32.1 Section 906 Certifcation

 

Exhibit 32.1

 

CERTIFICATION OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED

PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

I, Tom Wood, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that the Quarterly Report of REMSleep Holdings, Inc. on Form 10-Q for the quarterly period ended March 31, 2018 fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and that information contained in such Report on Form 10-Q fairly presents in all material respects the financial condition and results of operations of REMSleep Holdings, Inc.

 

By: /s/Tom Wood

Tom Wood

 

Chief Executive Officer/Chief Financial Officer/Chief Accounting Officer

 

June 28, 2018

EX-101.CAL 5 rmsl-20180331_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT EX-101.DEF 6 rmsl-20180331_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT EX-101.INS 7 rmsl-20180331.xml XBRL INSTANCE DOCUMENT RemSleep Holdings Inc. 0001412126 --12-31 RMSL Yes No No false 2018 Q1 10-Q 2018-03-31 475386867 637 N. Orange Ave, Suite 609 Orlando FL 32789 912 590-2001 Smaller Reporting Company 5875894 57761 173282 110022 175296 117992 183782 242898 239878 1150 2850 12957 12341 0 -194068 182191 182191 50000 50000 489196 681328 0 0 5000000 3500000 3500000 3500000 105000 105000 0 0 5000000 5000000 0 0 0 0 0 0 0 0 5000000 5000000 0 0 0 0 0 0 0.001 0.001 1000000000 1000000000 3937894 3937894 3610751 3610751 3938 3611 269188 58225 502111 424938 -1089320 -371204 -497546 117992 183782 16150 12600 117521 146979 6000 6000 4939 7024 144610 -144610 -172603 616 0 -17511 0 -162121 -172603 0 0 -162121 -0.04 -0.05 3678577 3285584 -172603 115521 146979 -16895 0 3020 1380 -1700 2000 616 0 -19434 0 0 0 19434 77500 0 77500 19434 50247 0 2014 0 52261 0 0 0 0 0 115521 146979 <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><b>NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES </b></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><i><u>Business Activity </u></i></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>REMSleep Holdings, Inc., (the &#147;Company&#148;) was incorporated in the State of Nevada on June 6, 2007. Following its acquisition of Handcamp on June 4, 2010, a gold property located in the Province of Newfoundland and Labrador, Canada (&#147;Handcamp&#148;), the Company changed its business model to that of a mineral acquisition, exploration and development company focused primarily on gold properties. On August 26, 2010, the Company&#146;s name was changed from Bella Viaggio, Inc. to Kat Gold Holdings Corp. On January 5, 2015 the name of the Company was changed to REMSleep Holdings, Inc. and the business model was changed to reflect the new direction of the Company; to develop and distribute products to help people affected by sleep apnea. On May 30, 2015 REMSleep LLC was formerly merged into REMSleep Holdings, Inc.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><i><u>Basis of Presentation</u></i></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>These unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (&#147;US GAAP&#148;) and the rules and regulations of the Securities and Exchange Commission (&#147;SEC&#148;). These financial statements and the notes attached hereto should be read in conjunction with the financial statements and notes included in the Company&#146;s 10-K for its fiscal year ended December 31, 2017. In the opinion of the Company, all adjustments, including normal recurring adjustments necessary to present fairly the financial position of the Company, as of March 31, 2018 and the results of its operations and cash flows for the three-month periods then ended have been included. The results of operations for the interim period are not necessarily indicative of the results for the full year.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><i><u>Use of Estimates </u></i></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>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 revenues and expenses during the reporting periods. Actual results could differ from those estimates.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><i><u>Reclassifications</u></i></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Certain reclassifications have been made to the prior period financial information to conform to the presentation used in the restated financial statements for the three months ended March 31, 2018.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><i><u>Recent Accounting Pronouncements </u></i></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements will cause a material impact on its financial condition or the results of its operations.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><i><u>Business Activity </u></i></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>REMSleep Holdings, Inc., (the &#147;Company&#148;) was incorporated in the State of Nevada on June 6, 2007. Following its acquisition of Handcamp on June 4, 2010, a gold property located in the Province of Newfoundland and Labrador, Canada (&#147;Handcamp&#148;), the Company changed its business model to that of a mineral acquisition, exploration and development company focused primarily on gold properties. On August 26, 2010, the Company&#146;s name was changed from Bella Viaggio, Inc. to Kat Gold Holdings Corp. On January 5, 2015 the name of the Company was changed to REMSleep Holdings, Inc. and the business model was changed to reflect the new direction of the Company; to develop and distribute products to help people affected by sleep apnea. On May 30, 2015 REMSleep LLC was formerly merged into REMSleep Holdings, Inc.</p> Nevada 2007-06-06 2010-08-26 Bella Viaggio, Inc. Kat Gold Holdings Corp. 2015-01-05 REMSleep Holdings, Inc. 2015-05-30 <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><i><u>Basis of Presentation</u></i></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>These unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (&#147;US GAAP&#148;) and the rules and regulations of the Securities and Exchange Commission (&#147;SEC&#148;). These financial statements and the notes attached hereto should be read in conjunction with the financial statements and notes included in the Company&#146;s 10-K for its fiscal year ended December 31, 2017. In the opinion of the Company, all adjustments, including normal recurring adjustments necessary to present fairly the financial position of the Company, as of March 31, 2018 and the results of its operations and cash flows for the three-month periods then ended have been included. The results of operations for the interim period are not necessarily indicative of the results for the full year.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><i><u>Use of Estimates </u></i></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>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 revenues and expenses during the reporting periods. Actual results could differ from those estimates.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><i><u>Reclassifications</u></i></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Certain reclassifications have been made to the prior period financial information to conform to the presentation used in the restated financial statements for the three months ended March 31, 2018.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><i><u>Recent Accounting Pronouncements </u></i></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements will cause a material impact on its financial condition or the results of its operations.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><b>NOTE 2 - GOING CONCERN</b></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has an accumulated deficit of $1,251,441 at March 31, 2018, had a net loss of $162,121 and net cash used in operating activities of $27,253 for the three months ended March 31, 2018. The Company&#146;s ability to raise additional capital through the future issuances of common stock and/or debt financing is unknown. The obtainment of additional financing, the successful development of the Company&#146;s contemplated plan of operations, and its transition, ultimately, to the attainment of profitable operations are necessary for the Company to continue operations. These conditions and the ability to successfully resolve these factors over the next twelve months raise substantial doubt about the Company&#146;s ability to continue as a going concern. The financial statements of the Company do not include any adjustments that may result from the outcome of these aforementioned uncertainties.</p> -1251441 -162121 -27253 <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal;text-autospace:ideograph-other'><b>NOTE 3 - PROPERTY &amp; EQUIPMENT</b></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal;text-autospace:ideograph-other'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal;text-autospace:ideograph-other'>Long lived assets, including property and equipment and certain intangible assets to be held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of the assets may not be recoverable. Impairment losses are recognized if expected future cash flows of the related assets are less than their carrying values. Measurement of an impairment loss is based on the fair value of the asset. Long-lived assets and certain identifiable intangibles to be disposed of are reported at the lower of carrying amount or fair value less cost to sell.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal;text-autospace:ideograph-other'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal;text-autospace:ideograph-other'>Property and Equipment and intangible assets are first recorded at cost. Depreciation and/or amortization is computed using the straight-line method over the estimated useful lives of the various classes of assets as follows between three and five years.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;text-autospace:ideograph-other'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal;text-autospace:ideograph-other'>Maintenance and repair expenses, as incurred, are charged to expense. Betterments and renewals are capitalized in plant and equipment accounts. Cost and accumulated depreciation applicable to items replaced or retired are eliminated from the related accounts with any gain or loss on the disposition included as income.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal;text-autospace:ideograph-other'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal;text-autospace:none'>Assets stated at cost, less accumulated depreciation consisted of the following: </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal;text-autospace:none'>&nbsp;</p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" style='border-collapse:collapse'> <tr style='height:.1in'> <td width="181" valign="bottom" style='width:135.65pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;text-autospace:none'>&#160;</p> </td> <td width="15" valign="bottom" style='width:11.5pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;text-autospace:none'>&#160;</p> </td> <td width="122" valign="bottom" style='width:91.65pt;border:none;border-bottom:solid black 1.0pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal;text-autospace:none'>March 31, 2018</p> </td> <td width="17" valign="top" style='width:13.05pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;text-autospace:none'>&#160;</p> </td> <td width="15" valign="bottom" style='width:11.0pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal;text-autospace:none'>&nbsp;</p> </td> <td width="126" valign="bottom" style='width:94.5pt;border:none;border-bottom:solid black 1.0pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal;text-autospace:none'>December 31, 2017</p> </td> </tr> <tr style='height:.1in'> <td width="181" valign="bottom" style='width:135.65pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:17.6pt;margin-bottom:.0001pt;text-indent:-17.6pt;line-height:normal;text-autospace:none'>Equipment</p> </td> <td width="15" valign="bottom" style='width:11.5pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal;text-autospace:none'>$</p> </td> <td width="122" valign="bottom" style='width:91.65pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal;text-autospace:none'>14,904</p> </td> <td width="17" valign="bottom" style='width:13.05pt;padding:0in 2.9pt 0in 0in;height:.1in'></td> <td width="15" valign="bottom" style='width:11.0pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal;text-autospace:none'>$</p> </td> <td width="126" valign="bottom" style='width:94.5pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal;text-autospace:none'>14,904</p> </td> </tr> <tr style='height:.1in'> <td width="181" valign="bottom" style='width:135.65pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:17.6pt;margin-bottom:.0001pt;text-indent:-17.6pt;line-height:normal;text-autospace:none'>Less: accumulated depreciation</p> </td> <td width="15" valign="bottom" style='width:11.5pt;padding:0in 2.9pt 0in 0in;height:.1in'></td> <td width="122" valign="bottom" style='width:91.65pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal;text-autospace:none'>(6,934)</p> </td> <td width="17" valign="bottom" style='width:13.05pt;padding:0in 2.9pt 0in 0in;height:.1in'></td> <td width="15" valign="bottom" style='width:11.0pt;padding:0in 2.9pt 0in 0in;height:.1in'></td> <td width="126" valign="bottom" style='width:94.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal;text-autospace:none'>(6,418)</p> </td> </tr> <tr style='height:.1in'> <td width="181" valign="bottom" style='width:135.65pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;text-autospace:none'> Fixed assets, net</p> </td> <td width="15" valign="bottom" style='width:11.5pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal;text-autospace:none'>$</p> </td> <td width="122" valign="bottom" style='width:91.65pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal;text-autospace:none'>7,970</p> </td> <td width="17" valign="bottom" style='width:13.05pt;padding:0in 2.9pt 0in 0in;height:.1in'></td> <td width="15" valign="bottom" style='width:11.0pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal;text-autospace:none'>$</p> </td> <td width="126" valign="bottom" style='width:94.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal;text-autospace:none'>8,486</p> </td> </tr> </table> </div> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal;text-autospace:ideograph-other'><i><u>Depreciation</u></i> <i><u>expense</u></i></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal;text-autospace:ideograph-other'>&#160;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal;text-autospace:ideograph-other'>Depreciation expense for the three months ended March 31, 2018 and 2017 was $516 and $2,810, respectively.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal;text-autospace:none'>&nbsp;</p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" style='border-collapse:collapse'> <tr style='height:.1in'> <td width="181" valign="bottom" style='width:135.65pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;text-autospace:none'>&#160;</p> </td> <td width="15" valign="bottom" style='width:11.5pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;text-autospace:none'>&#160;</p> </td> <td width="122" valign="bottom" style='width:91.65pt;border:none;border-bottom:solid black 1.0pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal;text-autospace:none'>March 31, 2018</p> </td> <td width="17" valign="top" style='width:13.05pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;text-autospace:none'>&#160;</p> </td> <td width="15" valign="bottom" style='width:11.0pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal;text-autospace:none'>&nbsp;</p> </td> <td width="126" valign="bottom" style='width:94.5pt;border:none;border-bottom:solid black 1.0pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal;text-autospace:none'>December 31, 2017</p> </td> </tr> <tr style='height:.1in'> <td width="181" valign="bottom" style='width:135.65pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:17.6pt;margin-bottom:.0001pt;text-indent:-17.6pt;line-height:normal;text-autospace:none'>Equipment</p> </td> <td width="15" valign="bottom" style='width:11.5pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal;text-autospace:none'>$</p> </td> <td width="122" valign="bottom" style='width:91.65pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal;text-autospace:none'>14,904</p> </td> <td width="17" valign="bottom" style='width:13.05pt;padding:0in 2.9pt 0in 0in;height:.1in'></td> <td width="15" valign="bottom" style='width:11.0pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal;text-autospace:none'>$</p> </td> <td width="126" valign="bottom" style='width:94.5pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal;text-autospace:none'>14,904</p> </td> </tr> <tr style='height:.1in'> <td width="181" valign="bottom" style='width:135.65pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:17.6pt;margin-bottom:.0001pt;text-indent:-17.6pt;line-height:normal;text-autospace:none'>Less: accumulated depreciation</p> </td> <td width="15" valign="bottom" style='width:11.5pt;padding:0in 2.9pt 0in 0in;height:.1in'></td> <td width="122" valign="bottom" style='width:91.65pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal;text-autospace:none'>(6,934)</p> </td> <td width="17" valign="bottom" style='width:13.05pt;padding:0in 2.9pt 0in 0in;height:.1in'></td> <td width="15" valign="bottom" style='width:11.0pt;padding:0in 2.9pt 0in 0in;height:.1in'></td> <td width="126" valign="bottom" style='width:94.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal;text-autospace:none'>(6,418)</p> </td> </tr> <tr style='height:.1in'> <td width="181" valign="bottom" style='width:135.65pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal;text-autospace:none'> Fixed assets, net</p> </td> <td width="15" valign="bottom" style='width:11.5pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal;text-autospace:none'>$</p> </td> <td width="122" valign="bottom" style='width:91.65pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal;text-autospace:none'>7,970</p> </td> <td width="17" valign="bottom" style='width:13.05pt;padding:0in 2.9pt 0in 0in;height:.1in'></td> <td width="15" valign="bottom" style='width:11.0pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal;text-autospace:none'>$</p> </td> <td width="126" valign="bottom" style='width:94.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal;text-autospace:none'>8,486</p> </td> </tr> </table> </div> 14904 14904 6934 6418 7970 8486 516 2810 <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><b>NOTE 4 &#150; NOTES PAYABLE</b></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&#160;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>On October 24, 2017, the Company was notified that a petition had been filed in the Iowa District Court for Polk County by a Mr. John M. Wesson for failure to repay a loan. Mr. Wesson had loaned the Company $30,000 and $20,000 on October 24, 2012 and June 12, 2013, respectively. The loans were to accrue interest at 5%. While the Company was under previous management the loans were removed from the books in Q1 of 2015. On April 26, 2018, the Company agreed to repay the loan in full including accrued interest and $5,000 for legal fees. The $50,000 plus $7,341 was booked to retained earnings in 2016 as a correction of an error. As of March 31, 2018, there is $12,957 of interest accrued on the loan. </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><b>NOTE 5 - COMMON STOCK</b></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>On November 16, 2017, the Company issued, as compensation for services provided, 1,087,261 common shares with a fair value of $0.2125 per share for total non-cash expense of $231,043. The expense is being recognized over the six-month term of the contract. As of December 31, 2017, $57,761 has been debited to consulting expense. In addition, as of December 31, 2017, the shares have not yet been issued; as a result, $36,975 has been credited to common stock to be issued and the remaining $194,068 to accruals. As of March 31, 2018, the shares were re-valued at $0.231 for a change in value of $16,895. In addition, $115,521 was amortized to stock for services expense and the accrual for stock to be issued was reclassed to common stock to be issued in equity.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>During the three months ended March 31, 2018, the Company sold 327,143 shares of common stock for total cash proceeds of $77,500.</p> 1087261 <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><b>NOTE 6 - PREFERRED STOCK</b></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>The Company is currently authorized to issue 5,000,000 Class A preferred shares, $0.001 per value with 1:25 voting rights. </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>On February 25, 2016, the Company issued 2,000,000 Class A preferred shares. On April 26, 2016 the Company issued 1,500,000 Class A preferred shares. The fair value of the shares was based on the price quoted on the OTC pink sheets on the grant date for the common shares as the preferred shares have a preference of a 1 to 1 conversion to common stock. The Company recognized compensation expense to its officers. As of March 31, 2018, there are 3,500,000 Class A Preferred shares outstanding.</p> 5000000 2000000 1500000 3500000 <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><b>NOTE 7 - RELATED PARTY TRANSACTIONS</b></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>The Company has received support from parties related through common ownership and directorship. All of the expenses herein have been borne by these individuals on behalf of the Company and are treated as shareholder loans. These loans are unsecured, non-interest bearing and due on demand. As of March 31, 2018, and December 31, 2017, the balance due on these loans is $182,191 and $182,191, respectively.</p> unsecured non-interest bearing due on demand 182191 182191 <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'><b><font lang="EN-CA">NOTE 8 &#150; RESTATEMENT</font></b></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>The March 31, 2017 financial statements are being restated to revise the accounting for retroactive adjustments identified during the year ended December 31, 2017 audit. </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'><font lang="EN-CA">The following table summarizes changes made to the three months ended March 31, 2017 Statement of Operations.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="594" style='border-collapse:collapse'> <tr style='height:.1in'> <td width="276" valign="bottom" style='width:207.0pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-CA">&#160;</font></p> </td> <td width="318" colspan="6" valign="bottom" style='width:238.75pt;border:none;border-bottom:solid black 1.0pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>For the three months ended March 31, 2017</p> </td> </tr> <tr style='height:.1in'> <td width="276" valign="bottom" style='width:207.0pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="18" valign="bottom" style='width:13.5pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&#160;</p> </td> <td width="84" valign="bottom" style='width:63.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>As Reported</p> </td> <td width="24" valign="bottom" style='width:.25in;padding:0in 2.9pt 0in 0in;height:.1in'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&#160;</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>Adjustment</p> </td> <td width="18" valign="bottom" style='width:13.5pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&#160;</p> </td> <td width="84" valign="bottom" style='width:63.25pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>As Restated</p> </td> </tr> <tr style='height:.1in'> <td width="276" valign="bottom" style='width:207.0pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Operating expenses</p> </td> <td width="18" valign="bottom" style='width:13.5pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>$</p> </td> <td width="84" valign="bottom" style='width:63.0pt;border:none;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>58,212</p> </td> <td width="24" valign="bottom" style='width:.25in;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>$</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>114,391</p> </td> <td width="18" valign="bottom" style='width:13.5pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>$</p> </td> <td width="84" valign="bottom" style='width:63.25pt;border:none;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>172,603</p> </td> </tr> <tr style='height:.1in'> <td width="276" valign="bottom" style='width:207.0pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Net Loss</p> </td> <td width="18" valign="bottom" style='width:13.5pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>$</p> </td> <td width="84" valign="bottom" style='width:63.0pt;border-top:solid windowtext 1.0pt;border-left:none;border-bottom:double windowtext 1.5pt;border-right:none;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>(58,212)</p> </td> <td width="24" valign="bottom" style='width:.25in;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>$</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border-top:solid windowtext 1.0pt;border-left:none;border-bottom:double windowtext 1.5pt;border-right:none;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>(114,391)</p> </td> <td width="18" valign="bottom" style='width:13.5pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>$</p> </td> <td width="84" valign="bottom" style='width:63.25pt;border-top:solid windowtext 1.0pt;border-left:none;border-bottom:double windowtext 1.5pt;border-right:none;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>(172,603)</p> </td> </tr> </table> </div> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="594" style='border-collapse:collapse'> <tr style='height:.1in'> <td width="276" valign="bottom" style='width:207.0pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-CA">&#160;</font></p> </td> <td width="318" colspan="6" valign="bottom" style='width:238.75pt;border:none;border-bottom:solid black 1.0pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>For the three months ended March 31, 2017</p> </td> </tr> <tr style='height:.1in'> <td width="276" valign="bottom" style='width:207.0pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="18" valign="bottom" style='width:13.5pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&#160;</p> </td> <td width="84" valign="bottom" style='width:63.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>As Reported</p> </td> <td width="24" valign="bottom" style='width:.25in;padding:0in 2.9pt 0in 0in;height:.1in'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&#160;</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>Adjustment</p> </td> <td width="18" valign="bottom" style='width:13.5pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&#160;</p> </td> <td width="84" valign="bottom" style='width:63.25pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>As Restated</p> </td> </tr> <tr style='height:.1in'> <td width="276" valign="bottom" style='width:207.0pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Operating expenses</p> </td> <td width="18" valign="bottom" style='width:13.5pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>$</p> </td> <td width="84" valign="bottom" style='width:63.0pt;border:none;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>58,212</p> </td> <td width="24" valign="bottom" style='width:.25in;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>$</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border:none;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>114,391</p> </td> <td width="18" valign="bottom" style='width:13.5pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>$</p> </td> <td width="84" valign="bottom" style='width:63.25pt;border:none;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>172,603</p> </td> </tr> <tr style='height:.1in'> <td width="276" valign="bottom" style='width:207.0pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Net Loss</p> </td> <td width="18" valign="bottom" style='width:13.5pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>$</p> </td> <td width="84" valign="bottom" style='width:63.0pt;border-top:solid windowtext 1.0pt;border-left:none;border-bottom:double windowtext 1.5pt;border-right:none;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>(58,212)</p> </td> <td width="24" valign="bottom" style='width:.25in;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>$</p> </td> <td width="90" valign="bottom" style='width:67.5pt;border-top:solid windowtext 1.0pt;border-left:none;border-bottom:double windowtext 1.5pt;border-right:none;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>(114,391)</p> </td> <td width="18" valign="bottom" style='width:13.5pt;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>$</p> </td> <td width="84" valign="bottom" style='width:63.25pt;border-top:solid windowtext 1.0pt;border-left:none;border-bottom:double windowtext 1.5pt;border-right:none;padding:0in 2.9pt 0in 0in;height:.1in'> <p align="right" style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:right;line-height:normal'>(172,603)</p> </td> </tr> </table> </div> 58212 114391 172603 -58212 -114391 -172603 <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><b>NOTE 9 - SUBSEQUENT EVENTS</b></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>In accordance with SFAS 165 (ASC 855-10) management has performed an evaluation of subsequent events through the date that the financial statements were available to be issued, June 26, 2018 and has determined that it does not have any material subsequent events to disclose in these financial statements other then the following.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>Subsequent to March 31, 2018, the Company granted 1,938,000 shares of common stock for services.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:107%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'>On April 27, 2018, the Company made a $10,000 payment as required by the Forbearance Agreement with regards to the Note Payable (Note 4).</p> Company granted 1,938,000 shares of common stock for services 2018-04-27 Company made a $10,000 payment as required by the Forbearance Agreement with regards to the Note Payable 0001412126 2018-01-01 2018-03-31 0001412126 2018-03-31 0001412126 2018-06-26 0001412126 2017-12-31 0001412126 us-gaap:SeriesAPreferredStockMember 2018-03-31 0001412126 us-gaap:SeriesAPreferredStockMember 2017-12-31 0001412126 us-gaap:SeriesBPreferredStockMember 2018-03-31 0001412126 us-gaap:SeriesBPreferredStockMember 2017-12-31 0001412126 us-gaap:SeriesCPreferredStockMember 2018-03-31 0001412126 us-gaap:SeriesCPreferredStockMember 2017-12-31 0001412126 2017-01-01 2017-03-31 0001412126 2016-12-31 0001412126 2017-03-31 0001412126 fil:FormerNameChange1Member 2018-01-01 2018-03-31 0001412126 fil:FormerNameChange2Member 2018-01-01 2018-03-31 0001412126 fil:FormerNameChange3Member 2018-01-01 2018-03-31 0001412126 2017-11-16 0001412126 us-gaap:SeriesAPreferredStockMember 2016-02-25 0001412126 us-gaap:SeriesAPreferredStockMember 2016-04-26 0001412126 fil:AsReportedMember 2017-01-01 2017-03-31 0001412126 us-gaap:ScenarioAdjustmentMember 2017-01-01 2017-03-31 0001412126 fil:Event1Member 2018-01-01 2018-03-31 0001412126 fil:Event2Member 2018-01-01 2018-03-31 iso4217:USD xbrli:shares iso4217:USD xbrli:shares Note 4 EX-101.LAB 8 rmsl-20180331_lab.xml XBRL TAXONOMY EXTENSION LABELS LINKBASE DOCUMENT Event 2 Represents the Event 2, during the indicated time period. NOTE 4 - Notes Payable Note 3 - Property & Equipment Net loss Net Loss Net Loss Accumulated Deficit ASSETS Scenario, Adjustment Equipment Changes to Statement of Operations Represents the textual narrative disclosure of Changes to Statement of Operations, during the indicated time period. Policies Note 5 - Common Stock Supplemental non-cash disclosure: Cash Flows from Investing Activities: Officer compensation Accrued stock to be issued Accrued stock to be issued Current Liabilities: Total Assets Total Assets Entity Incorporation, State Country Name Registrant CIK Scenario, Unspecified Accrued interest {1} Accrued interest Depreciation expense Loss before income taxes Loss before income taxes TOTAL STOCKHOLDERS' DEFICIT TOTAL STOCKHOLDERS' DEFICIT Accrued interest Series C Preferred Stock Event 1 Represents the Event 1, during the indicated time period. Use of Estimates Basis of Presentation Proceeds from shareholder advances Professional fees Preferred Stock, Shares Issued Entity Address, City or Town Fiscal Year End Subsequent Event Type Tables/Schedules Net cash used in operating activities Net cash used in operating activities Interest expense Interest expense General and administrative Accounts payable Total current assets Total current assets Statement Number of common stock shares outstanding Entity Information, Former Legal or Registered Name Entity Incorporation, Date of Incorporation Former Name Change 3 Represents the Former Name Change 3, during the indicated time period. Legal Entity [Axis] Operating expenses Total operating expenses Common stock to be issued Represents the monetary amount of Common stock to be issued, as of the indicated date. Preferred Stock, Value, Issued Accrued compensation Local Phone Number Subsequent Event Type [Axis] Reclassifications Business Activity Note 8 - Restatement Accrued officer compensation Other expenses: Voluntary filer Debt Instrument, Payment Terms Stock issued for services {1} Stock issued for services Net increase in cash Net increase in cash Stock issued for services Preferred Stock, Shares Outstanding Preferred Stock, Shares Authorized Proceeds from sale of common stock Basic and fully diluted net loss per share Consulting Common Stock, Shares Authorized Total Liabilities Total Liabilities Series A Preferred Stock Class of Stock Class of Stock [Axis] Entity Address, Postal Zip Code Entity Address, Address Line One Details Former Name Change 1 Represents the Former Name Change 1, during the indicated time period. Entity Property, Plant and Equipment Note 7 - Related Party Transactions Interest paid in cash Total other expense Total other expense Change in fair value Change in fair value Loss from operations Loss from operations Common Stock, Shares, Issued Current assets: Subsequent Event, Description Former Name Change 2 Represents the Former Name Change 2, during the indicated time period. Recent Accounting Pronouncements Cash Flows from Financing Activities: Changes in Operating Assets and Liabilities Provision for income taxes Due to shareholder Period End date Shares, Issued Preferred Stock, Par or Stated Value Per Share LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Tax Identification Number (TIN) Trading Symbol SEC Form Registrant Name Debt Instrument, Collateral Notes Common Stock, Value, Issued City Area Code Amendment Flag Well-known Seasoned Issuer Subsequent Event, Date Entity Information, Date to Change Former Legal or Registered Name Note 2 - Going Concern Supplemental cash flow information: Loan payable Property and equipment, net Fixed assets, net Prepaid stock for services Entity Address, State or Province Document Fiscal Period Focus Current with reporting Public Float As Reported Represents the As Reported, during the indicated time period. Debt Instrument, Interest Rate Terms Net cash provided by financing activities Net cash provided by financing activities Operating Expenses: TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY Additional paid in capital Series B Preferred Stock Document Fiscal Year Focus Scenario [Axis] Loans outstanding Note 9 - Subsequent Events Note 6 - Preferred Stock Note 1 - Summary of Significant Accounting Policies Accounts Payable {1} Accounts Payable Weighted average common shares outstanding, basic and diluted Common Stock, Par or Stated Value Per Share Cash {1} Cash Cash and Cash Equivalents, at Carrying Value, Beginning Balance Cash and Cash Equivalents, at Carrying Value, Ending Balance Amendment Description Less: accumulated depreciation Less: accumulated depreciation Taxes paid Adjustments to reconcile net loss to net cash used in operations: Cash Flows from Operating Activities: Common Stock, Shares, Outstanding STOCKHOLDERS' EQUITY (DEFICIT) Statement [Line Items] Filer Category EX-101.PRE 9 rmsl-20180331_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT EX-101.SCH 10 rmsl-20180331.xsd XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 000130 - 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Document and Entity Information - shares
3 Months Ended
Mar. 31, 2018
Jun. 26, 2018
Details    
Registrant Name RemSleep Holdings Inc.  
Registrant CIK 0001412126  
SEC Form 10-Q  
Period End date Mar. 31, 2018  
Fiscal Year End --12-31  
Trading Symbol RMSL  
Tax Identification Number (TIN) 475386867  
Number of common stock shares outstanding   5,875,894
Filer Category Smaller Reporting Company  
Current with reporting Yes  
Voluntary filer No  
Well-known Seasoned Issuer No  
Amendment Flag false  
Document Fiscal Year Focus 2018  
Document Fiscal Period Focus Q1  
Entity Incorporation, State Country Name Nevada  
Entity Address, Address Line One 637 N. Orange Ave, Suite 609  
Entity Address, City or Town Orlando  
Entity Address, State or Province FL  
Entity Address, Postal Zip Code 32789  
City Area Code 912  
Local Phone Number 590-2001  
XML 12 R2.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Balance Sheets (March 31, 2018 Unaudited) - USD ($)
Mar. 31, 2018
Dec. 31, 2017
Current assets:    
Cash $ 52,261 $ 2,014
Prepaid stock for services 57,761 173,282
Total current assets 110,022 175,296
Property and equipment, net 7,970 8,486
Total Assets 117,992 183,782
Current Liabilities:    
Accounts payable 242,898 239,878
Accrued compensation 1,150 2,850
Accrued interest 12,957 12,341
Accrued stock to be issued 0 194,068
Due to shareholder 182,191 182,191
Loan payable 50,000 50,000
Total Liabilities 489,196 681,328
STOCKHOLDERS' EQUITY (DEFICIT)    
Common Stock, Value, Issued 3,938 3,611
Common stock to be issued 269,188 58,225
Additional paid in capital 502,111 424,938
Accumulated Deficit (1,251,441) (1,089,320)
TOTAL STOCKHOLDERS' DEFICIT (371,204) (497,546)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 117,992 183,782
Series A Preferred Stock    
STOCKHOLDERS' EQUITY (DEFICIT)    
Preferred Stock, Value, Issued 105,000 105,000
Series B Preferred Stock    
STOCKHOLDERS' EQUITY (DEFICIT)    
Preferred Stock, Value, Issued 0 0
Series C Preferred Stock    
STOCKHOLDERS' EQUITY (DEFICIT)    
Preferred Stock, Value, Issued $ 0 $ 0
XML 13 R3.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Balance Sheets (March 31, 2018 Unaudited) - Parenthetical - $ / shares
Mar. 31, 2018
Dec. 31, 2017
Common Stock, Par or Stated Value Per Share $ 0.001 $ 0.001
Common Stock, Shares Authorized 1,000,000,000 1,000,000,000
Common Stock, Shares, Issued 3,937,894 3,610,751
Common Stock, Shares, Outstanding 3,937,894 3,610,751
Series A Preferred Stock    
Preferred Stock, Par or Stated Value Per Share $ 0 $ 0
Preferred Stock, Shares Authorized 5,000,000 5,000,000
Preferred Stock, Shares Issued 3,500,000 3,500,000
Preferred Stock, Shares Outstanding 3,500,000 3,500,000
Series B Preferred Stock    
Preferred Stock, Par or Stated Value Per Share $ 0 $ 0
Preferred Stock, Shares Authorized 5,000,000 5,000,000
Preferred Stock, Shares Issued 0 0
Preferred Stock, Shares Outstanding 0 0
Series C Preferred Stock    
Preferred Stock, Par or Stated Value Per Share $ 0 $ 0
Preferred Stock, Shares Authorized 5,000,000 5,000,000
Preferred Stock, Shares Issued 0 0
Preferred Stock, Shares Outstanding 0 0
XML 14 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Statements of Operations (Unaudited, 2017 restated) - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating Expenses:    
Professional fees $ 16,150 $ 12,600
Consulting 117,521 146,979
Officer compensation 6,000 6,000
General and administrative 4,939 7,024
Total operating expenses 144,610 172,603
Loss from operations (144,610) (172,603)
Other expenses:    
Interest expense (616) 0
Change in fair value (16,895) 0
Total other expense (17,511) 0
Loss before income taxes (162,121) (172,603)
Provision for income taxes 0 0
Net Loss $ (162,121) $ (172,603)
Basic and fully diluted net loss per share $ (0.04) $ (0.05)
Weighted average common shares outstanding, basic and diluted 3,678,577 3,285,584
XML 15 R5.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Statements of Cash Flows (Unaudited, 2017 restated) - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash Flows from Operating Activities:    
Net loss $ (162,121) $ (172,603)
Adjustments to reconcile net loss to net cash used in operations:    
Depreciation expense 516 2,810
Stock issued for services 115,521 146,979
Change in fair value 16,895 0
Changes in Operating Assets and Liabilities    
Accounts Payable 3,020 1,380
Accrued officer compensation (1,700) 2,000
Accrued interest 616 0
Net cash used in operating activities (27,253) (19,434)
Cash Flows from Investing Activities: 0 0
Cash Flows from Financing Activities:    
Proceeds from shareholder advances 0 19,434
Proceeds from sale of common stock 77,500 0
Net cash provided by financing activities 77,500 19,434
Net increase in cash 50,247 0
Cash and Cash Equivalents, at Carrying Value, Beginning Balance 2,014 0
Cash and Cash Equivalents, at Carrying Value, Ending Balance 52,261 0
Supplemental cash flow information:    
Interest paid in cash 0 0
Taxes paid 0 0
Supplemental non-cash disclosure:    
Stock issued for services $ 115,521 $ 146,979
XML 16 R6.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 1 - Summary of Significant Accounting Policies
3 Months Ended
Mar. 31, 2018
Notes  
Note 1 - Summary of Significant Accounting Policies

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Business Activity

 

REMSleep Holdings, Inc., (the “Company”) was incorporated in the State of Nevada on June 6, 2007. Following its acquisition of Handcamp on June 4, 2010, a gold property located in the Province of Newfoundland and Labrador, Canada (“Handcamp”), the Company changed its business model to that of a mineral acquisition, exploration and development company focused primarily on gold properties. On August 26, 2010, the Company’s name was changed from Bella Viaggio, Inc. to Kat Gold Holdings Corp. On January 5, 2015 the name of the Company was changed to REMSleep Holdings, Inc. and the business model was changed to reflect the new direction of the Company; to develop and distribute products to help people affected by sleep apnea. On May 30, 2015 REMSleep LLC was formerly merged into REMSleep Holdings, Inc.

 

Basis of Presentation

 

These unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”). These financial statements and the notes attached hereto should be read in conjunction with the financial statements and notes included in the Company’s 10-K for its fiscal year ended December 31, 2017. In the opinion of the Company, all adjustments, including normal recurring adjustments necessary to present fairly the financial position of the Company, as of March 31, 2018 and the results of its operations and cash flows for the three-month periods then ended have been included. The results of operations for the interim period are not necessarily indicative of the results for the full year.

 

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 revenues and expenses during the reporting periods. Actual results could differ from those estimates.

 

Reclassifications

 

Certain reclassifications have been made to the prior period financial information to conform to the presentation used in the restated financial statements for the three months ended March 31, 2018.

 

Recent Accounting Pronouncements

 

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

XML 17 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 2 - Going Concern
3 Months Ended
Mar. 31, 2018
Notes  
Note 2 - Going Concern

NOTE 2 - GOING CONCERN

 

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has an accumulated deficit of $1,251,441 at March 31, 2018, had a net loss of $162,121 and net cash used in operating activities of $27,253 for the three months ended March 31, 2018. The Company’s ability to raise additional capital through the future issuances of common stock and/or debt financing is unknown. The obtainment of additional financing, the successful development of the Company’s contemplated plan of operations, and its transition, ultimately, to the attainment of profitable operations are necessary for the Company to continue operations. These conditions and the ability to successfully resolve these factors over the next twelve months raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements of the Company do not include any adjustments that may result from the outcome of these aforementioned uncertainties.

XML 18 R8.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 3 - Property & Equipment
3 Months Ended
Mar. 31, 2018
Notes  
Note 3 - Property & Equipment

NOTE 3 - PROPERTY & EQUIPMENT

 

Long lived assets, including property and equipment and certain intangible assets to be held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of the assets may not be recoverable. Impairment losses are recognized if expected future cash flows of the related assets are less than their carrying values. Measurement of an impairment loss is based on the fair value of the asset. Long-lived assets and certain identifiable intangibles to be disposed of are reported at the lower of carrying amount or fair value less cost to sell.

 

Property and Equipment and intangible assets are first recorded at cost. Depreciation and/or amortization is computed using the straight-line method over the estimated useful lives of the various classes of assets as follows between three and five years.

 

Maintenance and repair expenses, as incurred, are charged to expense. Betterments and renewals are capitalized in plant and equipment accounts. Cost and accumulated depreciation applicable to items replaced or retired are eliminated from the related accounts with any gain or loss on the disposition included as income.

 

Assets stated at cost, less accumulated depreciation consisted of the following:

 

 

 

March 31, 2018

 

 

December 31, 2017

Equipment

$

14,904

$

14,904

Less: accumulated depreciation

(6,934)

(6,418)

Fixed assets, net

$

7,970

$

8,486

 

Depreciation expense

 

Depreciation expense for the three months ended March 31, 2018 and 2017 was $516 and $2,810, respectively.

XML 19 R9.htm IDEA: XBRL DOCUMENT v3.8.0.1
NOTE 4 - Notes Payable
3 Months Ended
Mar. 31, 2018
Notes  
NOTE 4 - Notes Payable

NOTE 4 – NOTES PAYABLE

 

On October 24, 2017, the Company was notified that a petition had been filed in the Iowa District Court for Polk County by a Mr. John M. Wesson for failure to repay a loan. Mr. Wesson had loaned the Company $30,000 and $20,000 on October 24, 2012 and June 12, 2013, respectively. The loans were to accrue interest at 5%. While the Company was under previous management the loans were removed from the books in Q1 of 2015. On April 26, 2018, the Company agreed to repay the loan in full including accrued interest and $5,000 for legal fees. The $50,000 plus $7,341 was booked to retained earnings in 2016 as a correction of an error. As of March 31, 2018, there is $12,957 of interest accrued on the loan.

XML 20 R10.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 5 - Common Stock
3 Months Ended
Mar. 31, 2018
Notes  
Note 5 - Common Stock

NOTE 5 - COMMON STOCK

 

On November 16, 2017, the Company issued, as compensation for services provided, 1,087,261 common shares with a fair value of $0.2125 per share for total non-cash expense of $231,043. The expense is being recognized over the six-month term of the contract. As of December 31, 2017, $57,761 has been debited to consulting expense. In addition, as of December 31, 2017, the shares have not yet been issued; as a result, $36,975 has been credited to common stock to be issued and the remaining $194,068 to accruals. As of March 31, 2018, the shares were re-valued at $0.231 for a change in value of $16,895. In addition, $115,521 was amortized to stock for services expense and the accrual for stock to be issued was reclassed to common stock to be issued in equity.

 

During the three months ended March 31, 2018, the Company sold 327,143 shares of common stock for total cash proceeds of $77,500.

XML 21 R11.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 6 - Preferred Stock
3 Months Ended
Mar. 31, 2018
Notes  
Note 6 - Preferred Stock

NOTE 6 - PREFERRED STOCK

 

The Company is currently authorized to issue 5,000,000 Class A preferred shares, $0.001 per value with 1:25 voting rights.

 

On February 25, 2016, the Company issued 2,000,000 Class A preferred shares. On April 26, 2016 the Company issued 1,500,000 Class A preferred shares. The fair value of the shares was based on the price quoted on the OTC pink sheets on the grant date for the common shares as the preferred shares have a preference of a 1 to 1 conversion to common stock. The Company recognized compensation expense to its officers. As of March 31, 2018, there are 3,500,000 Class A Preferred shares outstanding.

XML 22 R12.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 7 - Related Party Transactions
3 Months Ended
Mar. 31, 2018
Notes  
Note 7 - Related Party Transactions

NOTE 7 - RELATED PARTY TRANSACTIONS

 

The Company has received support from parties related through common ownership and directorship. All of the expenses herein have been borne by these individuals on behalf of the Company and are treated as shareholder loans. These loans are unsecured, non-interest bearing and due on demand. As of March 31, 2018, and December 31, 2017, the balance due on these loans is $182,191 and $182,191, respectively.

XML 23 R13.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 8 - Restatement
3 Months Ended
Mar. 31, 2018
Notes  
Note 8 - Restatement

NOTE 8 – RESTATEMENT

 

The March 31, 2017 financial statements are being restated to revise the accounting for retroactive adjustments identified during the year ended December 31, 2017 audit.

 

The following table summarizes changes made to the three months ended March 31, 2017 Statement of Operations.

 

 

For the three months ended March 31, 2017

 

 

As Reported

 

Adjustment

 

As Restated

Operating expenses

$

58,212

$

114,391

$

172,603

Net Loss

$

(58,212)

$

(114,391)

$

(172,603)

XML 24 R14.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 9 - Subsequent Events
3 Months Ended
Mar. 31, 2018
Notes  
Note 9 - Subsequent Events

NOTE 9 - SUBSEQUENT EVENTS

 

In accordance with SFAS 165 (ASC 855-10) management has performed an evaluation of subsequent events through the date that the financial statements were available to be issued, June 26, 2018 and has determined that it does not have any material subsequent events to disclose in these financial statements other then the following.

 

Subsequent to March 31, 2018, the Company granted 1,938,000 shares of common stock for services.

 

On April 27, 2018, the Company made a $10,000 payment as required by the Forbearance Agreement with regards to the Note Payable (Note 4).

XML 25 R15.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 1 - Summary of Significant Accounting Policies: Business Activity (Policies)
3 Months Ended
Mar. 31, 2018
Policies  
Business Activity

Business Activity

 

REMSleep Holdings, Inc., (the “Company”) was incorporated in the State of Nevada on June 6, 2007. Following its acquisition of Handcamp on June 4, 2010, a gold property located in the Province of Newfoundland and Labrador, Canada (“Handcamp”), the Company changed its business model to that of a mineral acquisition, exploration and development company focused primarily on gold properties. On August 26, 2010, the Company’s name was changed from Bella Viaggio, Inc. to Kat Gold Holdings Corp. On January 5, 2015 the name of the Company was changed to REMSleep Holdings, Inc. and the business model was changed to reflect the new direction of the Company; to develop and distribute products to help people affected by sleep apnea. On May 30, 2015 REMSleep LLC was formerly merged into REMSleep Holdings, Inc.

XML 26 R16.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 1 - Summary of Significant Accounting Policies: Basis of Presentation (Policies)
3 Months Ended
Mar. 31, 2018
Policies  
Basis of Presentation

Basis of Presentation

 

These unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”). These financial statements and the notes attached hereto should be read in conjunction with the financial statements and notes included in the Company’s 10-K for its fiscal year ended December 31, 2017. In the opinion of the Company, all adjustments, including normal recurring adjustments necessary to present fairly the financial position of the Company, as of March 31, 2018 and the results of its operations and cash flows for the three-month periods then ended have been included. The results of operations for the interim period are not necessarily indicative of the results for the full year.

XML 27 R17.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 1 - Summary of Significant Accounting Policies: Use of Estimates (Policies)
3 Months Ended
Mar. 31, 2018
Policies  
Use of Estimates

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 revenues and expenses during the reporting periods. Actual results could differ from those estimates.

XML 28 R18.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 1 - Summary of Significant Accounting Policies: Reclassifications (Policies)
3 Months Ended
Mar. 31, 2018
Policies  
Reclassifications

Reclassifications

 

Certain reclassifications have been made to the prior period financial information to conform to the presentation used in the restated financial statements for the three months ended March 31, 2018.

XML 29 R19.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 1 - Summary of Significant Accounting Policies: Recent Accounting Pronouncements (Policies)
3 Months Ended
Mar. 31, 2018
Policies  
Recent Accounting Pronouncements

Recent Accounting Pronouncements

 

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

XML 30 R20.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 3 - Property & Equipment: Property, Plant and Equipment (Tables)
3 Months Ended
Mar. 31, 2018
Tables/Schedules  
Property, Plant and Equipment

 

 

 

March 31, 2018

 

 

December 31, 2017

Equipment

$

14,904

$

14,904

Less: accumulated depreciation

(6,934)

(6,418)

Fixed assets, net

$

7,970

$

8,486

XML 31 R21.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 8 - Restatement: Changes to Statement of Operations (Tables)
3 Months Ended
Mar. 31, 2018
Tables/Schedules  
Changes to Statement of Operations

 

 

For the three months ended March 31, 2017

 

 

As Reported

 

Adjustment

 

As Restated

Operating expenses

$

58,212

$

114,391

$

172,603

Net Loss

$

(58,212)

$

(114,391)

$

(172,603)

XML 32 R22.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 1 - Summary of Significant Accounting Policies: Business Activity (Details)
3 Months Ended
Mar. 31, 2018
Entity Incorporation, State Country Name Nevada
Entity Incorporation, Date of Incorporation Jun. 06, 2007
Former Name Change 1  
Entity Information, Date to Change Former Legal or Registered Name Aug. 26, 2010
Entity Information, Former Legal or Registered Name Bella Viaggio, Inc.
Former Name Change 2  
Entity Information, Date to Change Former Legal or Registered Name Jan. 05, 2015
Entity Information, Former Legal or Registered Name Kat Gold Holdings Corp.
Former Name Change 3  
Entity Information, Date to Change Former Legal or Registered Name May 30, 2015
Entity Information, Former Legal or Registered Name REMSleep Holdings, Inc.
XML 33 R23.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 2 - Going Concern (Details) - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
Details      
Accumulated Deficit $ (1,251,441)   $ (1,089,320)
Net loss (162,121) $ (172,603)  
Net cash used in operating activities $ (27,253) $ (19,434)  
XML 34 R24.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 3 - Property & Equipment: Property, Plant and Equipment (Details) - USD ($)
Mar. 31, 2018
Dec. 31, 2017
Details    
Equipment $ 14,904 $ 14,904
Less: accumulated depreciation (6,934) (6,418)
Fixed assets, net $ 7,970 $ 8,486
XML 35 R25.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 3 - Property & Equipment (Details) - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Details    
Depreciation expense $ 516 $ 2,810
XML 36 R26.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 5 - Common Stock (Details)
Nov. 16, 2017
shares
Details  
Shares, Issued 1,087,261
XML 37 R27.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 6 - Preferred Stock (Details) - shares
Mar. 31, 2018
Dec. 31, 2017
Nov. 16, 2017
Apr. 26, 2016
Feb. 25, 2016
Shares, Issued     1,087,261    
Series A Preferred Stock          
Preferred Stock, Shares Authorized 5,000,000 5,000,000      
Shares, Issued       1,500,000 2,000,000
Preferred Stock, Shares Outstanding 3,500,000 3,500,000      
XML 38 R28.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 7 - Related Party Transactions (Details) - USD ($)
3 Months Ended
Mar. 31, 2018
Dec. 31, 2017
Details    
Debt Instrument, Collateral unsecured  
Debt Instrument, Interest Rate Terms non-interest bearing  
Debt Instrument, Payment Terms due on demand  
Loans outstanding $ 182,191 $ 182,191
XML 39 R29.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 8 - Restatement: Changes to Statement of Operations (Details) - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating expenses $ 144,610 $ 172,603
Net Loss $ (162,121) (172,603)
As Reported    
Operating expenses   58,212
Net Loss   (58,212)
Scenario, Adjustment    
Operating expenses   114,391
Net Loss   $ (114,391)
XML 40 R30.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 9 - Subsequent Events (Details)
3 Months Ended
Mar. 31, 2018
Event 1  
Subsequent Event, Description Company granted 1,938,000 shares of common stock for services
Event 2  
Subsequent Event, Description Company made a $10,000 payment as required by the Forbearance Agreement with regards to the Note Payable [1]
Subsequent Event, Date Apr. 27, 2018
[1] Note 4
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