10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

[X] Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

for the quarterly period ended December 31, 2018

or

[   ] Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

(For the transition period from _____to _____).

Commission File Number: 000-55315

MITU Resources Inc.

(Exact name of registrant as specified in its charter)

Nevada	000-55315	N/A
(State or other jurisdiction	(Commission File Number)	(IRS Employer
of incorporation)		Identification No.)

Gregorio Luperón #7
Puerto Plata, Dominican Republic	N/A
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code: (829) 876-4960

Former Name or Former Address, if Changed Since Last Report: N/A

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 [X] Yes [   ] No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or such shorter period that the registrant was required to submit such files). Yes [   ] No [   ]

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

Large accelerated filer	[   ]	Accelerated filer	[   ]
Non-accelerated filer	[   ]	Smaller Reporting Company	[X]
Emerging Growth Company	[X]

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with 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 [X] No [   ]

The number of shares of the Registrant’s common stock, par value $.001 per share, outstanding as of March 18, 2019 was 292,000.

1

Mitu Resources Inc.

December 31, 2018

Index

Condensed Balance Sheets (unaudited)3 

Condensed Statements of Operations (unaudited)4 

Statement of Stockholders’ Equity5 

Condensed Statements of Cash Flows (unaudited)6 

Notes to the Condensed Financial Statements (unaudited)7 

2

Mitu Resources Inc.

Condensed Balance Sheets

(Expressed in U.S. dollars)

	December 31, 2018 $	March 31, 2018 $
	(unaudited)
ASSETS
Current Assets
Prepaid expense	2,020	1,754
Total Assets	2,020	1,754
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Current Liabilities
Accounts payable and accrued liabilities	14,476	3,576
Notes payable (Note 4)	29,500	24,500
Notes payable – related party (Note 4)	5,750	–
Due to related party (Note 5)	136,205	131,229
Total Liabilities	185,931	159,305
Stockholders’ Equity
Common Stock Authorized: 70,000,000 common shares, with par value $0.001 Issued and outstanding: 292,000 and 300,000 common shares, respectively	292	300
Additional paid-in capital	29,708	29,700
Accumulated Deficit	(213,911)	(187,551)
Total Stockholders’ Equity (Deficit)	(183,911)	(157,551)
Total Liabilities and Stockholders’ Equity (Deficit)	2,020	1,754

(The accompanying notes are an integral part of these condensed financial statements)

3

Mitu Resources Inc.

Condensed Statements of Operations

(Expressed in U.S. dollars)

(unaudited)

	For the three months ended December 31, 2018	For the three months ended December 31, 2017	For the nine months ended December 31, 2018	For the nine months ended December 31, 2017
	$	$	$	$
Revenue	–	–	–	–
Operating Expenses
General and administrative	1,296	330	1,315	330
Professional fees	4,851	3,500	18,897	13,250
Transfer agent fees	535	1,665	3,875	13,784
Total operating expenses	6,682	5,495	24,087	27,364
Loss Before Other Expenses	(6,682)	(5,495)	(24,087)	(27,364)
Other Expense
Interest expense	(888)	–	(2,273)	–
Net Loss	(7,570)	(5,495)	(26,360)	(27,364)
Net Loss Per Share – Basic and Diluted	(0.03)	(0.02)	(0.09)	(0.09)
Weighted Average Shares Outstanding	292,000	300,000	296,829	300,000

(The accompanying notes are an integral part of these condensed financial statements)

4

Mitu Resources Inc.

Statement of Stockholders’ Equity

(Expressed in U.S. dollars)

(unaudited)

	Common Stock		Additional
	Shares	Par Value	Paid-In Capital	Accumulated Deficit	Total
	#	$	$	$	$
Balance, March 31, 2018	300,000	300	29,700	(187,551)	(157,551)
Cancellation of shares	(8,000)	(8)	8	–	–
Net loss for the period	–	–	–	(26,360)	(26,360)
Balance, December 31, 2018	292,000	292	29,708	(213,911)	(183,911)

	Common Stock		Additional
	Shares	Par Value	Paid-In Capital	Accumulated Deficit	Total
	#	$	$	$	$
Balance, March 31, 2017	300,000	300	29,700	(134,165)	(104,165)
Net loss for the period	–	–	–	(27,364)	(27,364)
Balance, December 31, 2017	300,000	300	29,700	(161,529)	(131,529)

(The accompanying notes are an integral part of these condensed financial statements)

5

Mitu Resources Inc.

Condensed Statements of Cash Flows

(Expressed in U.S. dollars)

(unaudited)

	For the nine months ended December 31, 2018	For the nine months ended December 31, 2017
	$	$
Operating Activities
Net loss	(26,360)	(27,364)
Changes in operating assets and liabilities:
Prepaid expense	(266)	–
Accounts payable and accrued liabilities	10,900	120
Due to related parties	4,976	–
Net Cash Used In Operating Activities	(10,750)	(27,244)
Financing Activities
Proceeds from related party	-	26,229
Proceeds from notes payable	10,750	–
Net Cash Provided By Financing Activities	10,750	26,229
Increase (Decrease) in Cash	–	(1,015)
Cash – Beginning of Period	–	1,015
Cash – End of Period	–	–

(The accompanying notes are an integral part of these condensed financial statements)

6

Mitu Resources Inc.

Notes to the Condensed Financial Statements

(Expressed in U.S. dollars)

(unaudited)

1.Nature of Operations and Continuance of Business 

Mitu Resources Inc. (the “Company”) was incorporated in the State of Nevada on April 17, 2013 and is a mineral exploration and production company engaged in the exploration, acquisition, and development of mineral properties. The Company holds nine claims in the Mitu Gold Mine in Departamento del Vaupes, Colombia and is in the process of exploring these claims, as well as raising additional capital for future acquisitions. The Company is an exploration stage company with limited transactions.

Going Concern

These financial statements have been prepared on a going concern basis, which implies that the Company will continue to realize its assets and discharge its liabilities in the normal course of business. As at December 31, 2018, the Company has generated no revenues, and has an accumulated deficit of $213,911. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability to raise equity or debt financing, and the attainment of profitable operations from the Company's future business. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

The Company’s plan of action over the next twelve months is to raise capital financing to conduct exploration and drilling on its mineral property claims held in Departamento del Vaupes, Colombia as well as exploring for new mineral property claims.

2.Summary of Significant Accounting Policies 

a)Basis of Presentation 

These financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States (“US GAAP”), and are expressed in US dollars. The Company’s fiscal year-end is March 31.

b)Use of Estimates 

The preparation of financial statements in conformity with generally accepted accounting principles in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the recoverability of mineral properties, and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.

c)Interim Condensed Financial Statements 

These interim condensed financial statements have been prepared on the same basis as the annual financial statements and in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the Company’s financial position, results of operations and cash flows for the periods shown. The results of operations for such periods are not necessarily indicative of the results expected for a full year or for any future period.

d)Cash and Cash Equivalents 

The Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents. As at December 31 and March 31, 2018, the Company had no cash equivalents.

7

Mitu Resources Inc.

Notes to the Condensed Financial Statements

(Expressed in U.S. dollars)

(unaudited)

2.Summary of Significant Accounting Policies (continued) 

e)Mineral Property Costs 

The Company has been in the exploration stage since its formation on April 17, 2013 and has not yet realized any revenues from its planned operations. Mineral property acquisition costs are capitalized as incurred. Exploration and evaluation costs are expensed as incurred until proven and probable reserves are established. The Company assesses the carrying costs for impairment under ASC 360, “Property, Plant, and Equipment” at each fiscal quarter end. When it has been determined that a mineral property can be economically developed as a result of establishing proven and probable reserves, the costs then incurred to develop such property, are capitalized. Such costs will be amortized using the units-of-production method over the estimated life of the probable reserve. If mineral properties are subsequently abandoned or impaired, any capitalized costs will be charged to operations.

f)Asset Retirement Obligations 

As at December 31 and March 31, 2018, the Company has no asset retirement obligations.

g)Basic and Diluted Net Loss per Share  

The Company computes net income (loss) per share in accordance with ASC 260, Earnings per Share. ASC 260 requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti dilutive.

h)Income Taxes 

Potential benefits of income tax losses are not recognized in the accounts until realization is more likely than not. The Company has adopted ASC 740, Accounting for Income Taxes, as of its inception. Pursuant to ASC 740, the Company is required to compute tax asset benefits for net operating losses carried forward. The potential benefits of net operating losses have not been recognized in these financial statements because the Company cannot be assured it is more likely than not it will utilize the net operating losses carried forward in future years.

i)Comprehensive Loss 

ASC 220, Comprehensive Income, establishes standards for the reporting and display of comprehensive loss and its components in the financial statements. As at December 31 and March 31, 2018, the Company has no items that represent comprehensive loss and, therefore, has not included a schedule of comprehensive loss in the financial statements.

j)Financial Instruments  

Pursuant to ASC 820, Fair Value Measurements and Disclosures and ASC 825, Financial Instruments, an entity is required to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value:

Level 1

Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

8

Mitu Resources Inc.

Notes to the Condensed Financial Statements

(Expressed in U.S. dollars)

(unaudited)

2.Summary of Significant Accounting Policies (continued) 

j) Financial Instruments (continued) 

Level 2

Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.

Level 3

Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

The Company’s financial instruments consist principally of cash, and accounts payable and accrued liabilities. Pursuant to ASC, the fair value of cash and cash equivalents is determined based on “Level 1” inputs, which consist of quoted prices in active markets for identical assets. We believe that the recorded values of all of our other financial instruments approximate their current fair values because of their nature and respective maturity dates or durations.

k)Recent Accounting Pronouncements 

The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

3.Mineral Property 

On April 17, 2013, the Company acquired nine claims in the Mitu Gold Mines, located in Colombia, for $5,000. A mining license is necessary to mine the MITU Gold Claim. MITU obtained such a license, but it has expired. MITU plans to renew the license if and when it is ready to commence mining operations. During the year ended March 31, 2016, the Company recorded an impairment of capitalized mineral property costs of $5,000.

4.Notes Payable 

a)On February 14, 2018, the Company received a loan of $15,000 from a non-related company, which is unsecured, bears interest at 10% per annum, and is due on demand. As at December 31, 2018, the Company recorded $1,315 (2017 - $nil) of accrued interest which is recorded in accounts payable and accrued liabilities. During the period ended December 31, 2018, the Company recorded $1,315 (2017 - $nil) of interest expense. 

b)On March 13, 2018, the Company received a loan of $2,000 from a non-related company, which is unsecured, bears interest at 10% per annum, and is due on demand. As at December 31, 2018, the Company recorded $161 (2017 - $nil) of accrued interest which is recorded in accounts payable and accrued liabilities. During the period ended December 31, 2018, the Company recorded $161 (2017 - $nil) of interest expense. 

c)On March 28, 2018, the Company received a loan of $7,500 from a non-related company, which is unsecured, bears interest at 10% per annum, and is due on demand. As at December 31, 2018, the Company recorded $571 (2017 - $nil) of accrued interest which is recorded in accounts payable and accrued liabilities. During the period ended December 31, 2018, the Company recorded $571 (2017 - $nil) of interest expense. 

9

Mitu Resources Inc.

Notes to the Condensed Financial Statements

(Expressed in U.S. dollars)

(unaudited)

4.Notes Payable (continued) 

d)On June 8, 2018, the Company received a loan of $5,000 from a non-related company, which is unsecured, bears interest at 10% per annum, and is due on demand. As at December 31, 2018, the Company recorded $282 (2017 - $nil) of accrued interest which is recorded in accounts payable and accrued liabilities. During the period ended December 31, 2018, the Company recorded $282 (2017 - $nil) of interest expense. 

e)On September 24, 2018, the Company received a loan of $5,750 from the director of the company, which is unsecured, bears interest at 10% per annum, and is due on demand. As at December 31, 2018, the Company recorded $145 (2017 - $nil) of accrued interest which is recorded in accounts payable and accrued liabilities. During the period ended December 31, 2018, the Company recorded $145 (2017 - $nil) of interest expense. 

5.Due to Related Party 

a)As at December 31, 2018, the Company owes $131,229 (March 31, 2018 - $131,229) to the former President and Director of the Company. The amounts owing are unsecured, non-interest bearing, and due on demand.  

b)As at December 31, 2018, the Company owes $4,976 (March 31, 2018 - $nil) to the President and Director of the Company. The amounts owing are unsecured, non-interest bearing, and due on demand. 

6.Common Shares 

a)On April 17, 2013, the Company issued 300,000 common shares to founders of the Company at $0.10 per share for proceeds of $30,000.  

b)On September 13, 2018, the Company cancelled 8,000 common shares. 

c)On September 18, 2018, the Company enacted a reverse split of its common shares on a 100:1 basis. All reference to share and per share amounts have been retroactively restated to affect the reverse stock split as if the transaction had taken place as of the beginning of the earliest period presented. 

7.Subsequent Event 

(a)On December 8, 2018, the Company entered into a loan agreement with a non-related party for proceeds of $20,000 which is unsecured, bears interest at 10% per annum, and is due on demand. The Company received the proceeds on February 13, 2019.  

(b)On March 11, 2019, the Company entered into an agreement and plan of merger (the “Agreement”) with Alphacom Holdings, Inc., a newly formed and wholly-owned subsidiary of the Company, for the sole purchase of enacting a name change to “Alphacom Holdings, Inc.”.  

10

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operation

FORWARD-LOOKING STATEMENTS

This Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A) contains forward-looking statements that involve known and unknown risks, significant uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed, or implied, by those forward-looking statements. You can identify forward-looking statements by the use of the words may, will, should, could, expects, plans, anticipates, believes, estimates, predicts, intends, potential, proposed, or continue or the negative of those terms. These statements are only predictions. In evaluating these statements, you should consider various factors which may cause our actual results to differ materially from any forward-looking statements. Although we believe that the exceptions reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.

RESULTS OF OPERATIONS

Working Capital

	December 31, 2018 $	March 31, 2018 $
Current Assets	2,020	1,754
Current Liabilities	185,931	159,305
Working Capital (Deficit)	(183,911)	(157,551)

Cash Flows

	Nine months ended December 31, 2018 $	Nine months ended December 31, 2017 $
Cash Flows used in Operating Activities	(10,750)	(27,244)
Cash Flows from (used in) Investing Activities	-	-
Cash Flows from (used in) Financing Activities	10,750	26,229
Net increase (decrease) in Cash During Period	-	(1,015)

Operating Revenues

From April 17, 2013 (date of inception) to December 31, 2018, the Company has not earned any revenues from its operations.

Operating Expenses and Net Loss

Three months ended December 31, 2018

For the three months ended December 31, 2018, the Company incurred operating expenses of $6,682 compared to operating expenses of $5,495 during the three months ended December 31, 2017. The increase in operating expenses was due to an increase of $966 of general and administrative costs and an increase of $1,351 in professional fees due to legal fees for general purposes during the period, which was offset by a decrease of $1,130 in transfer agent fees.

In addition to operating expenses, the Company also incurred interest expense of $888 relating to interest on outstanding notes payable of $35,250. There was no interest expense in the prior year as the Company did not have any notes payable.

For the three months ended December 31, 2018, the Company incurred a net loss of $7,570 and loss per share of $0.03 compared with a net loss of $5,495 and loss per share of $0.02 for the three months ended December 31, 2017.

11

Nine months ended December 31, 2018

For the nine months ended December 31, 2018, the Company incurred operating expenses of $24,087 compared to operating expenses of $27,364 during the nine months ended December 31, 2017. The decrease in operating expenses was due to a decrease of $9,909 in transfer agent fees as the Company incurred costs for DTC eligibility in fiscal 2017. The decrease was offset by an increase in professional fees of $5,647 due to legal fees that were incurred during fiscal 2018 that were not incurred in fiscal 2017.

In addition to operating expenses, the Company also incurred interest expense of $2,273 relating to interest on outstanding notes payable of $35,250. There was no interest expense in the prior year as the Company did not have any notes payable.

For the nine months ended December 31, 2018, the Company incurred a net loss of $26,360 and loss per share of $0.09 compared with a net loss of $27,364 and loss per share of $0.09 for the nine months ended December 31, 2017.

Liquidity and Capital Resources

As at December 31, 2018, the Company had cash of $nil and total assets of $2,020 compared with cash and total assets of $1,754 at March 31, 2018. The decrease in cash was due to the fact that the Company had limited cash flows and the increase in total assets was due to the prepayment of legal and transfer agent expenses as at December 31, 2018.

As at December 31, 2018, the Company had total liabilities of $185,931 compared with total liabilities of $159,305 at March 31, 2018. The increase in total liabilities was attributed to an increase in notes payable of $5,000, as the Company received additional cash proceeds from the issuance of a note payable, which is unsecured, bears interest at 10% per annum, and is due on demand, an increase of $5,750 in related party payables due to the issuance of a loan payable which is unsecured, bears interest at 10% per annum, and is due on demand. In addition, accounts payable and accrued liabilities increased by $10,900 as the Company had insufficient cash to pay outstanding obligations as they became due, and amounts due to related parties increased by $4,976 due to additional payment of day-to-day expenses incurred by management during the period.

As at December 31, 2018, the Company had a working capital deficit of $183,911 compared with a working capital deficit of $157,551 at March 31, 2018. The increase in working capital deficit was due to the payment of operating costs relating to the Company’s operations that exceeded cash from financing activities during the period.

Cash Flow from Operating Activities

During the nine months ended December 31, 2018, the Company used cash in operating activities of $10,750 compared with $27,244 during the nine months ended December 31, 2017. The use of cash for operating activities is comparable to prior year and is reflective of the fact that the Company has minimal operations as it continues its development.

Cash Flow from Investing Activities

During the nine months ended December 31, 2018 and 2017, the Company did not have any investing activities.

Cash Flow from Financing Activities

During the nine months ended December 31, 2018, the Company received cash of $5,000 from the issuance of a non-related note payable, which is unsecured, bears interest at 10% per annum, and is due on demand, and $5,750 from a related party note payable which is unsecured, bears interest at 10% per annum, and is due on demand. During the nine months ended December 31, 2017, the Company received $26,229 of cash from the former President and Director of the Company for financing activities.

Going Concern

We have not attained profitable operations and are dependent upon obtaining financing to pursue any extensive acquisitions and activities. For these reasons, our auditors stated in their report on our audited financial statements that they have substantial doubt that we will be able to continue as a going concern without further financing.

Future Financings

We will continue to rely on equity sales of our Common Shares in order to continue to fund our business operations. Issuances of additional shares will result in dilution to existing stockholders. There is no assurance that we will achieve any additional sales of the equity securities or arrange for debt or other financing to fund our operations and other activities.

12

Off-Balance Sheet Arrangements

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

Recently Issued Accounting Pronouncements

The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

Trends

We are in the exploration stage, have not generated any revenue and have no prospects of generating any revenue in the foreseeable future. We are unaware of any known trends, events or uncertainties that have had, or are reasonably likely to have, a material impact on our business or income, either in the long term of short term, other than as described in this section or in “Risk Factors”.

Critical Accounting Policies

Our discussion and analysis of its financial condition and results of operations, including the discussion on liquidity and capital resources, are based upon our financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States. The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an ongoing basis, management re-evaluates its estimates and judgments.

The going concern basis of presentation assumes we will continue in operation throughout the next fiscal year and into the foreseeable future and will be able to realize our assets and discharge our liabilities and commitments in the normal course of business. Certain conditions, discussed below, are currently present that raise substantial doubt upon the validity of this assumption. The financial statements do not include any adjustments that might result from the outcome of the uncertainty.

Our intended exploration activities are dependent upon our ability to obtain third party financing in the form of debt and equity and ultimately to generate future profitable exploration activity or income from its investments. As of the date of this report we have not generated revenues, and have experienced negative cash flow from minimal exploration activities. We may look to secure additional funds through future debt or equity financings. Such financings may not be available or may not be available on reasonable terms.

Changes in and Disagreements with Accountants on Accounting Procedures and Financial Disclosure

None exist.

Item 3. Quantitative and Qualitative Disclosure about Market Risk

None.

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

As of the end of the period covered by this report, we carried out an evaluation, under the supervision and with the participation of our Principal Executive Officer and Principal Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures. Based on the evaluation, both the Principal Executive Officer and the Principal Financial Officer concluded that our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) promulgated under the Securities Exchange Act of 1934, were not effective as of December 31, 2018.

Internal Control over Financial Reporting

There was no change in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) promulgated under the Securities Act of 1934) that materially affected, or is reasonably likely to materially affect, such internal control over financial reporting during the quarter ended December 31, 2018.

13

Part II — OTHER INFORMATION

Item 1. Legal Proceedings

None.

Item 1A. Risk Factors

In addition to other information set forth in this report, you should carefully consider the risk factors described in our Registration Statement on Form 10-K, which was filed on July 16, 2018. Those factors could materially affect our business, financial condition or future results. In addition, risks and uncertainties not currently known to us or that we currently deem to be immaterial may also have a materially adverse effect on our business, financial condition and/or operating results.

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

None.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures

No information concerning mine safety violations or other regulatory matters required by Section 1503(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 104 of Regulation S-K (17 CFR 229.104) is required to be disclosed herein because we are not the operator of any mine, and we have no subsidiaries.

Item 5. Other Information

On or about March 11, 2019, Mitu Resources, Inc., a Nevada corporation (the “Company”) entered into an Agreement and Plan of Merger (the “Merger Agreement”) with its newly formed and wholly owned subsidiary, Alphacom Holdings, Inc., a Nevada corporation (“Merger Sub”), for the sole purpose of changing its name to “Alphacom Holdings, Inc.” That same day, the Company filed Articles of Merger (the “Articles of Merger”) with the Nevada Secretary of State, merging the Merger Sub into the Company, which were stamped effective as of March 11, 2019. As permitted by the Section 92.A.180 of the Nevada Revised Statutes, the sole purpose and effect of the filing of Articles of Merger was to change the name of the Company to “Alphacom Holdings, Inc.”

The Company has also submitted to FINRA to make this name change effective, and has also requested a new symbol in connection therewith. That application is presently pending.

14

Item 6. Exhibits

Exhibit
Number	Description of Exhibit	Filing
3.01	Articles of Incorporation	Filed with the SEC on June 18, 2014, on Form S-1.
3.03	Bylaws	Filed with the SEC on June 18, 2014, on Form S-1.
10.01	License and Distribution Agreement between the Company and headwind Technologies Ltd.	Filed with the SEC on February 12, 2018, on Form 8-K.
10.02	First Amendment to the License and Distribution Agreement between the Company and headwind Technologies Ltd.	Filed with the SEC on April 17, 2018, on Form 8-K.
10.03	Release and Settlement Agreement between the Company and headwind Technologies Ltd.	Filed with the SEC on July 16, 2018, on Form 10-K.
31.1	Certifications of Principal Executive Officer	Filed herewith.
31.2	Certifications of Principal Financial Officer	Filed herewith.
32.1	Certification of Principal Executive Officer	Filed herewith.
32.2	Certification of Principal Financial Officer	Filed herewith.

101.INS*	XBRL Instance Document
101.SCH*	XBRL Taxonomy Extension Schema Document
101.CAL*	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF*	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB*	XBRL Taxonomy Extension Labels Linkbase Document
101.PRE*	XBRL Taxonomy Extension Presentation Linkbase Document

* Filed herewith.

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.

		MITU RESOURCES INC.
Date:	March 15, 2019	By:	/s/ Simeon Leonardo Reyes Francisco
			Simeon Leonardo Reyes Francisco
			President, Chief Executive Officer, Chief Financial Officer, and Secretary

15

EX-31.1

Exhibit 31.1

CERTIFICATIONS

I, Simeon Leonardo Reyes Francisco, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of MITU Resources, 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 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 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.

March 15, 2019

/s/ Simeon Leonardo Reyes Francisco

Simeon Leonardo Reyes Francisco

President, Chief Executive Officer, Chief Financial Officer, and Secretary

EX-31.2

Exhibit 31.2

CERTIFICATIONS

I, Simeon Leonardo Reyes Francisco, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of MITU Resources, 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 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 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.

March 15, 2019

/s/ Simeon Leonardo Reyes Francisco

Simeon Leonardo Reyes Francisco

President, Chief Executive Officer, Chief Financial Officer, and Secretary

EX-32.1

Exhibit 32.1 Section 906 Certification

EX-32.2

Exhibit 32.2 Section 906 Certification

XML

Document and Entity Information - $ / shares		9 Months Ended
	Mar. 18, 2019	Dec. 31, 2018
Details
Registrant Name		MITU Resources Inc.
Registrant CIK		0001609880
SEC Form		10-Q
Period End date		Dec. 31, 2018
Fiscal Year End		--03-31
Trading Symbol		mitu
Number of common stock shares outstanding	292,000
Filer Category		Non-accelerated Filer
Current with reporting		Yes
Small Business		true
Emerging Growth Company		true
Ex Transition Period		false
Amendment Flag		false
Document Fiscal Year Focus		2019
Document Fiscal Period Focus		Q3
Contained File Information, File Number		000-55315
Entity Incorporation, State Country Name		Nevada
Entity File Number		000-55315
Entity Address, Address Line One		Gregorio Luperón #7
Entity Address, City or Town		Puerto Plata
Entity Address, Country		Dominican Republic
City Area Code		829
Local Phone Number		876-4960
Entity Listing, Par Value Per Share	$ 0.001

XML

Condensed Balance Sheets (December 31, 2018 unaudited) - USD ($)		Dec. 31, 2018	Mar. 31, 2018
Current Assets
Prepaid expense		$ 2,020	$ 1,754
Total Assets		2,020	1,754
Current Liabilities
Accounts payable and accrued liabilities		14,476	3,576
Notes payable (Note 4)	[1]	29,500	24,500
Notes payable - related party (Note 4)	[1]	5,750	0
Due to related party (Note 5)	[2]	136,205	131,229
Total Liabilities		185,931	159,305
Stockholders' Equity
Common Stock, Value		292	300
Additional paid-in capital		29,708	29,700
Accumulated Deficit		(213,911)	(187,551)
Total Stockholders' Equity (Deficit)		(183,911)	(157,551)
Total Liabilities and Stockholders' Equity (Deficit)		$ 2,020	$ 1,754

[1] Note 4

[2] Note 5

XML

Condensed Balance Sheets (December 31, 2018 unaudited) - Parenthetical - $ / shares	Dec. 31, 2018	Mar. 31, 2018
Details
Common Stock, Shares Authorized	70,000,000	70,000,000
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares, Issued	292,000	300,000
Common Stock, Shares, Outstanding	292,000	300,000

XML

Condensed Statement of Operations (unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Details
Revenue	$ 0	$ 0	$ 0	$ 0
Operating Expenses
General and administrative	1,296	330	1,315	330
Professional fees	4,851	3,500	18,897	13,250
Transfer agent fees	535	1,665	3,875	13,784
Total operating expenses	6,682	5,495	24,087	27,364
Loss Before Other Expenses	(6,682)	(5,495)	(24,087)	(27,364)
Other Expense
Interest expense	(888)	0	(2,273)	0
Net Loss	$ (7,570)	$ (5,495)	$ (26,360)	$ (27,364)
Net Loss Per Share - Basic and Diluted	$ (0.03)	$ (0.02)	$ (0.09)	$ (0.09)
Weighted Average Shares Outstanding	292,000	300,000	296,829	300,000

XML

Statement of Stockholders' Equity - USD ($)	Common Stock	Additional Paid-in Capital	Retained Earnings	Total
Equity Balance, Starting at Mar. 31, 2017	$ 300	$ 29,700	$ (134,165)	$ (104,165)
Shares Outstanding, Starting at Mar. 31, 2017	300,000
Net Income (Loss)	$ 0	0	(27,364)	(27,364)
Shares Outstanding, Ending at Dec. 31, 2017	300,000
Equity Balance, Ending at Dec. 31, 2017	$ 300	29,700	(161,529)	(131,529)
Equity Balance, Starting at Mar. 31, 2018	$ 300	29,700	(187,551)	(157,551)
Shares Outstanding, Starting at Mar. 31, 2018	300,000
Cancellation of shares	$ (8)	8	0	0
Cancellation of shares	(8,000)
Net Income (Loss)	$ 0	0	(26,360)	(26,360)
Shares Outstanding, Ending at Dec. 31, 2018	292,000
Equity Balance, Ending at Dec. 31, 2018	$ 292	$ 29,708	$ (213,911)	$ (183,911)

XML

Condensed Statements of Cash Flows (unaudited) - USD ($)	9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Operating Activities
Net loss	$ (26,360)	$ (27,364)
Changes in operating assets and liabilities:
Prepaid expense	(266)	0
Accounts payable and accrued liabilities	10,900	120
Due to related parties	4,976	0
Net Cash Used In Operating Activities	(10,750)	(27,244)
Financing Activities
Proceeds from related party	0	26,229
Proceeds from notes payable	10,750	0
Net Cash Provided By Financing Activities	10,750	26,229
Increase (Decrease) in Cash	0	(1,015)
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	0	1,015
Cash and Cash Equivalents, at Carrying Value, Ending Balance	$ 0	$ 0

XML

Nature of Operations and Continuance of Business

9 Months Ended

Dec. 31, 2018

Notes

Nature of Operations and Continuance of Business

1.      Nature of Operations and Continuance of Business

Mitu Resources Inc. (the “Company”) was incorporated in the State of Nevada on April 17, 2013 and is a mineral exploration and production company engaged in the exploration, acquisition, and development of mineral properties. The Company holds nine claims in the Mitu Gold Mine in Departamento del Vaupes, Colombia and is in the process of exploring these claims, as well as raising additional capital for future acquisitions. The Company is an exploration stage company with limited transactions.

Going Concern

These financial statements have been prepared on a going concern basis, which implies that the Company will continue to realize its assets and discharge its liabilities in the normal course of business. As at December 31, 2018, the Company has generated no revenues, and has an accumulated deficit of $213,911. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability to raise equity or debt financing, and the attainment of profitable operations from the Company's future business. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

The Company’s plan of action over the next twelve months is to raise capital financing to conduct exploration and drilling on its mineral property claims held in Departamento del Vaupes, Colombia as well as exploring for new mineral property claims.

XML

Summary of Significant Accounting Policies

9 Months Ended

Dec. 31, 2018

Notes

Summary of Significant Accounting Policies

2.    Summary of Significant Accounting Policies

a)    Basis of Presentation

These financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States (“US GAAP”), and are expressed in US dollars. The Company’s fiscal year-end is March 31.

b)    Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the recoverability of mineral properties, and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.

c)    Interim Condensed Financial Statements

These interim condensed financial statements have been prepared on the same basis as the annual financial statements and in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the Company’s financial position, results of operations and cash flows for the periods shown. The results of operations for such periods are not necessarily indicative of the results expected for a full year or for any future period.

d)    Cash and Cash Equivalents

The Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents. As at December 31 and March 31, 2018, the Company had no cash equivalents.

e)    Mineral Property Costs

The Company has been in the exploration stage since its formation on April 17, 2013 and has not yet realized any revenues from its planned operations. Mineral property acquisition costs are capitalized as incurred. Exploration and evaluation costs are expensed as incurred until proven and probable reserves are established. The Company assesses the carrying costs for impairment under ASC 360, “Property, Plant, and Equipment” at each fiscal quarter end. When it has been determined that a mineral property can be economically developed as a result of establishing proven and probable reserves, the costs then incurred to develop such property, are capitalized. Such costs will be amortized using the units-of-production method over the estimated life of the probable reserve. If mineral properties are subsequently abandoned or impaired, any capitalized costs will be charged to operations.

f)    Asset Retirement Obligations

As at December 31 and March 31, 2018, the Company has no asset retirement obligations.

g)   Basic and Diluted Net Loss per Share

The Company computes net income (loss) per share in accordance with ASC 260, Earnings per Share. ASC 260 requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti dilutive.

h)   Income Taxes

Potential benefits of income tax losses are not recognized in the accounts until realization is more likely than not. The Company has adopted ASC 740, Accounting for Income Taxes, as of its inception. Pursuant to ASC 740, the Company is required to compute tax asset benefits for net operating losses carried forward. The potential benefits of net operating losses have not been recognized in these financial statements because the Company cannot be assured it is more likely than not it will utilize the net operating losses carried forward in future years.

i)     Comprehensive Loss

ASC 220, Comprehensive Income, establishes standards for the reporting and display of comprehensive loss and its components in the financial statements. As at December 31 and March 31, 2018, the Company has no items that represent comprehensive loss and, therefore, has not included a schedule of comprehensive loss in the financial statements.

j)     Financial Instruments

Pursuant to ASC 820, Fair Value Measurements and Disclosures and ASC 825, Financial Instruments, an entity is required to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value:

Level 1

Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

Level 2

Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.

Level 3

Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

The Company’s financial instruments consist principally of cash, and accounts payable and accrued liabilities. Pursuant to ASC, the fair value of cash and cash equivalents is determined based on “Level 1” inputs, which consist of quoted prices in active markets for identical assets. We believe that the recorded values of all of our other financial instruments approximate their current fair values because of their nature and respective maturity dates or durations.

k)    Recent Accounting Pronouncements

The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

XML

Mineral Property

9 Months Ended

Dec. 31, 2018

Notes

Mineral Property

3.    Mineral Property

On April 17, 2013, the Company acquired nine claims in the Mitu Gold Mines, located in Colombia, for $5,000. A mining license is necessary to mine the MITU Gold Claim. MITU obtained such a license, but it has expired. MITU plans to renew the license if and when it is ready to commence mining operations. During the year ended March 31, 2016, the Company recorded an impairment of capitalized mineral property costs of $5,000.

XML

Notes Payable

9 Months Ended

Dec. 31, 2018

Notes

Notes Payable

4.    Notes Payable

a)    On February 14, 2018, the Company received a loan of $15,000 from a non-related company, which is unsecured, bears interest at 10% per annum, and is due on demand. As at December 31, 2018, the Company recorded $1,315 (2017 - $nil) of accrued interest which is recorded in accounts payable and accrued liabilities. During the period ended December 31, 2018, the Company recorded $1,315 (2017 - $nil) of interest expense.

b)    On March 13, 2018, the Company received a loan of $2,000 from a non-related company, which is unsecured, bears interest at 10% per annum, and is due on demand. As at December 31, 2018, the Company recorded $161 (2017 - $nil) of accrued interest which is recorded in accounts payable and accrued liabilities. During the period ended December 31, 2018, the Company recorded $161 (2017 - $nil) of interest expense.

c)    On March 28, 2018, the Company received a loan of $7,500 from a non-related company, which is unsecured, bears interest at 10% per annum, and is due on demand. As at December 31, 2018, the Company recorded $571 (2017 - $nil) of accrued interest which is recorded in accounts payable and accrued liabilities. During the period ended December 31, 2018, the Company recorded $571 (2017 - $nil) of interest expense.

d)    On June 8, 2018, the Company received a loan of $5,000 from a non-related company, which is unsecured, bears interest at 10% per annum, and is due on demand. As at December 31, 2018, the Company recorded $282 (2017 - $nil) of accrued interest which is recorded in accounts payable and accrued liabilities. During the period ended December 31, 2018, the Company recorded $282 (2017 - $nil) of interest expense.

e)    On September 24, 2018, the Company received a loan of $5,750 from the director of the company, which is unsecured, bears interest at 10% per annum, and is due on demand. As at December 31, 2018, the Company recorded $145 (2017 - $nil) of accrued interest which is recorded in accounts payable and accrued liabilities. During the period ended December 31, 2018, the Company recorded $145 (2017 - $nil) of interest expense.

XML

Due to Related Party

9 Months Ended

Dec. 31, 2018

Notes

Due to Related Party

5.    Due to Related Party

a)    As at December 31, 2018, the Company owes $131,229 (March 31, 2018 - $131,229) to the former President and Director of the Company. The amounts owing are unsecured, non-interest bearing, and due on demand.

b)    As at December 31, 2018, the Company owes $4,976 (March 31, 2018 - $nil) to the President and Director of the Company. The amounts owing are unsecured, non-interest bearing, and due on demand.

XML

Common Shares

9 Months Ended

Dec. 31, 2018

Notes

Common Shares

6.    Common Shares

a)    On April 17, 2013, the Company issued 300,000 common shares to founders of the Company at $0.10 per share for proceeds of $30,000.

b)    On September 13, 2018, the Company cancelled 8,000 common shares.

c)    On September 18, 2018, the Company enacted a reverse split of its common shares on a 100:1 basis. All reference to share and per share amounts have been retroactively restated to affect the reverse stock split as if the transaction had taken place as of the beginning of the earliest period presented.

XML

Subsequent Event

9 Months Ended

Dec. 31, 2018

Notes

Subsequent Event

7.    Subsequent Event

(a)   On December 8, 2018, the Company entered into a loan agreement with a non-related party for proceeds of $20,000 which is unsecured, bears interest at 10% per annum, and is due on demand. The Company received the proceeds on February 13, 2019.

(b)  On March 11, 2019, the Company entered into an agreement and plan of merger (the “Agreement”) with Alphacom Holdings, Inc., a newly formed and wholly-owned subsidiary of the Company, for the sole purchase of enacting a name change to “Alphacom Holdings, Inc.”.

XML

Nature of Operations and Continuance of Business: Going Concern (Policies)

9 Months Ended

Dec. 31, 2018

Policies

Going Concern

Going Concern

These financial statements have been prepared on a going concern basis, which implies that the Company will continue to realize its assets and discharge its liabilities in the normal course of business. As at December 31, 2018, the Company has generated no revenues, and has an accumulated deficit of $213,911. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability to raise equity or debt financing, and the attainment of profitable operations from the Company's future business. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

The Company’s plan of action over the next twelve months is to raise capital financing to conduct exploration and drilling on its mineral property claims held in Departamento del Vaupes, Colombia as well as exploring for new mineral property claims.

XML

Summary of Significant Accounting Policies: Basis of Presentation (Policies)

9 Months Ended

Dec. 31, 2018

Policies

Basis of Presentation

a)    Basis of Presentation

These financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States (“US GAAP”), and are expressed in US dollars. The Company’s fiscal year-end is March 31.

XML

Summary of Significant Accounting Policies: Use of Estimates (Policies)

9 Months Ended

Dec. 31, 2018

Policies

Use of Estimates

b)    Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the recoverability of mineral properties, and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.

XML

Summary of Significant Accounting Policies: Interim Condensed Financial Statements (Policies)

9 Months Ended

Dec. 31, 2018

Policies

Interim Condensed Financial Statements

c)    Interim Condensed Financial Statements

These interim condensed financial statements have been prepared on the same basis as the annual financial statements and in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the Company’s financial position, results of operations and cash flows for the periods shown. The results of operations for such periods are not necessarily indicative of the results expected for a full year or for any future period.

XML

Summary of Significant Accounting Policies: Cash and Cash Equivalents (Policies)

9 Months Ended

Dec. 31, 2018

Policies

Cash and Cash Equivalents

d)    Cash and Cash Equivalents

The Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents. As at December 31 and March 31, 2018, the Company had no cash equivalents.

XML

Summary of Significant Accounting Policies: Mineral Property Costs (Policies)

9 Months Ended

Dec. 31, 2018

Policies

Mineral Property Costs

e)    Mineral Property Costs

The Company has been in the exploration stage since its formation on April 17, 2013 and has not yet realized any revenues from its planned operations. Mineral property acquisition costs are capitalized as incurred. Exploration and evaluation costs are expensed as incurred until proven and probable reserves are established. The Company assesses the carrying costs for impairment under ASC 360, “Property, Plant, and Equipment” at each fiscal quarter end. When it has been determined that a mineral property can be economically developed as a result of establishing proven and probable reserves, the costs then incurred to develop such property, are capitalized. Such costs will be amortized using the units-of-production method over the estimated life of the probable reserve. If mineral properties are subsequently abandoned or impaired, any capitalized costs will be charged to operations.

XML

Summary of Significant Accounting Policies: Asset Retirement Obligations (Policies)

9 Months Ended

Dec. 31, 2018

Policies

Asset Retirement Obligations

f)    Asset Retirement Obligations

As at December 31 and March 31, 2018, the Company has no asset retirement obligations.

XML

Summary of Significant Accounting Policies: Basic and Diluted Net Loss per Share (Policies)

9 Months Ended

Dec. 31, 2018

Policies

Basic and Diluted Net Loss per Share

g)   Basic and Diluted Net Loss per Share

The Company computes net income (loss) per share in accordance with ASC 260, Earnings per Share. ASC 260 requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti dilutive.

XML

Summary of Significant Accounting Policies: Income Taxes (Policies)

9 Months Ended

Dec. 31, 2018

Policies

Income Taxes

h)   Income Taxes

Potential benefits of income tax losses are not recognized in the accounts until realization is more likely than not. The Company has adopted ASC 740, Accounting for Income Taxes, as of its inception. Pursuant to ASC 740, the Company is required to compute tax asset benefits for net operating losses carried forward. The potential benefits of net operating losses have not been recognized in these financial statements because the Company cannot be assured it is more likely than not it will utilize the net operating losses carried forward in future years.

XML

Summary of Significant Accounting Policies: Comprehensive Loss (Policies)

9 Months Ended

Dec. 31, 2018

Policies

Comprehensive Loss

i)     Comprehensive Loss

ASC 220, Comprehensive Income, establishes standards for the reporting and display of comprehensive loss and its components in the financial statements. As at December 31 and March 31, 2018, the Company has no items that represent comprehensive loss and, therefore, has not included a schedule of comprehensive loss in the financial statements.

XML

Summary of Significant Accounting Policies: Financial Instruments (Policies)

9 Months Ended

Dec. 31, 2018

Policies

Financial Instruments

j)     Financial Instruments

Pursuant to ASC 820, Fair Value Measurements and Disclosures and ASC 825, Financial Instruments, an entity is required to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value:

Level 1

Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

Level 2

Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.

Level 3

Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

The Company’s financial instruments consist principally of cash, and accounts payable and accrued liabilities. Pursuant to ASC, the fair value of cash and cash equivalents is determined based on “Level 1” inputs, which consist of quoted prices in active markets for identical assets. We believe that the recorded values of all of our other financial instruments approximate their current fair values because of their nature and respective maturity dates or durations.

XML

Summary of Significant Accounting Policies: Recent Accounting Pronouncements (Policies)

9 Months Ended

Dec. 31, 2018

Policies

Recent Accounting Pronouncements

k)    Recent Accounting Pronouncements

The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

XML

Nature of Operations and Continuance of Business (Details)	9 Months Ended
	Dec. 31, 2018
Details
Entity Incorporation, State Country Name	Nevada
Entity Incorporation, Date of Incorporation	Apr. 17, 2013

XML

Nature of Operations and Continuance of Business: Going Concern (Details) - USD ($)	Dec. 31, 2018	Mar. 31, 2018
Details
Accumulated Deficit	$ (213,911)	$ (187,551)

XML

Summary of Significant Accounting Policies: Cash and Cash Equivalents (Details) - USD ($)	Dec. 31, 2018	Mar. 31, 2018
Details
Cash Equivalents, at Carrying Value	$ 0	$ 0

XML

Summary of Significant Accounting Policies: Asset Retirement Obligations (Details)	Dec. 31, 2018 USD ($)
Details
Asset Retirement Obligation	$ 0

XML

Summary of Significant Accounting Policies: Comprehensive Loss (Details)	9 Months Ended
	Dec. 31, 2018 USD ($)
Details
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$ 0
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ 0

XML

Mineral Property (Details) - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2018	Mar. 31, 2016
Details
Payments to Acquire Mineral Rights	$ 5,000
Impairment of capitalized mineral property costs		$ 5,000

XML

Notes Payable (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Mar. 31, 2018
Interest Expense	$ 888	$ 0	$ 2,273	$ 0
Loan 1
Debt Instrument, Issuance Date			Feb. 14, 2018
Debt Instrument, Description			Company received a loan
Debt Instrument, Face Amount	$ 15,000		$ 15,000
Debt Instrument, Issuer			non-related company
Debt Instrument, Collateral			unsecured
Debt Instrument, Interest Rate, Stated Percentage	10.00%		10.00%
Debt Instrument, Payment Terms			due on demand
Accrued Interest	$ 1,315		$ 1,315		$ 0
Interest Expense			$ 1,315	$ 0
Loan 2
Debt Instrument, Issuance Date			Mar. 13, 2018
Debt Instrument, Description			Company received a loan
Debt Instrument, Face Amount	$ 2,000		$ 2,000
Debt Instrument, Issuer			non-related company
Debt Instrument, Collateral			unsecured
Debt Instrument, Interest Rate, Stated Percentage	10.00%		10.00%
Debt Instrument, Payment Terms			due on demand
Loan 3
Debt Instrument, Issuance Date			Mar. 28, 2018
Debt Instrument, Description			Company received a loan
Debt Instrument, Face Amount	$ 7,500		$ 7,500
Debt Instrument, Issuer			non-related company
Debt Instrument, Collateral			unsecured
Debt Instrument, Interest Rate, Stated Percentage	10.00%		10.00%
Debt Instrument, Payment Terms			due on demand
Loan 4
Debt Instrument, Issuance Date			Jun. 08, 2018
Debt Instrument, Description			Company received a loan
Debt Instrument, Face Amount	$ 5,000		$ 5,000
Debt Instrument, Issuer			non-related company
Debt Instrument, Collateral			unsecured
Debt Instrument, Interest Rate, Stated Percentage	10.00%		10.00%
Debt Instrument, Payment Terms			due on demand
Loan 5
Debt Instrument, Issuance Date			Sep. 24, 2018
Debt Instrument, Description			Company received a loan
Debt Instrument, Face Amount	$ 5,750		$ 5,750
Debt Instrument, Issuer			director of the company
Debt Instrument, Collateral			unsecured
Debt Instrument, Interest Rate, Stated Percentage	10.00%		10.00%
Debt Instrument, Payment Terms			due on demand

XML

Due to Related Party (Details) - USD ($)	9 Months Ended
	Dec. 31, 2018	Mar. 31, 2018
Due to Related Party 1
Debt Instrument, Description	the Company owes $131,229 (March 31, 2018 - $131,229) to the former President and Director of the Company
Long-term Debt	$ 131,229	$ 131,229
Debt Instrument, Collateral	unsecured
Debt Instrument, Interest Rate, Stated Percentage	0.00%
Debt Instrument, Payment Terms	due on demand
Due to Related Party 2
Debt Instrument, Description	the Company owes $4,976 (March 31, 2018 - $nil) to the President and Director of the Company
Long-term Debt	$ 4,976	$ 0
Debt Instrument, Collateral	unsecured
Debt Instrument, Interest Rate, Stated Percentage	0.00%
Debt Instrument, Payment Terms	due on demand

XML

Common Shares (Details)	9 Months Ended
	Dec. 31, 2018 USD ($) $ / shares shares
Shares transaction 1
Sale of Stock, Transaction Date	Apr. 17, 2013
Sale of Stock, Description of Transaction	Company issued 300,000 common shares to founders of the Company
Shares, Issued	300,000
Sale of Stock, Price Per Share | $ / shares	$ 0.10
Stock Issued | $	$ 30,000
Shares transaction 2
Sale of Stock, Transaction Date	Sep. 13, 2018
Sale of Stock, Description of Transaction	Company cancelled 8,000 common shares
Shares cancelled	8,000
Shares transaction 3
Sale of Stock, Transaction Date	Sep. 18, 2018
Sale of Stock, Description of Transaction	Company enacted a reverse split of its common shares on a 100:1 basis

XML

Subsequent Event (Details)	9 Months Ended
	Dec. 31, 2018 USD ($)
Event 1
Debt Instrument, Issuance Date	Dec. 08, 2018
Subsequent Event, Date	Dec. 08, 2018
Subsequent Event, Description	Company entered into a loan agreement with a non-related party
Debt Instrument, Issuer	Company
Debt Instrument, Description	loan agreement
Proceeds from Loans	$ 20,000
Debt Instrument, Collateral	unsecured
Debt Instrument, Interest Rate, Stated Percentage	10.00%
Event 2
Subsequent Event, Date	Mar. 11, 2019
Subsequent Event, Description	Company entered into an agreement and plan of merger (the “Agreement”) with Alphacom Holdings, Inc.