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 September 30, 2020 or

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

For the transition period from __________to _________

000-55516

Commission file number

ORIGINAL SOURCE MUSIC, INC.

(Exact name of registrant as specified in its charter)

NEVADA	20-8594615
State or other jurisdiction of incorporation or organization	(I.R.S. Employer Identification No.)

8547 E. Arapahoe Road #J453 Greenwood Village, CO	80112
(Address of principal executive offices)	(Zip Code)

(852) 9095 2949

Registrant’s telephone number, including area code

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

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the 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 [X ] No [  ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See 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]

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

APPLICABLE ONLY TO CORPORATE ISSUERS:

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

Class	Outstanding November 16, 2020
Common Stock, $0.001 par value per share	5,073,000 shares

Table of Contents

		Page
		No.
	PART I – FINANCIAL INFORMATION
Item 1.	Condensed Financial Statements (Unaudited)	3
	Notes to Condensed Financial Statements	7
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations.	10
Item 3.	Quantitative and Qualitative Disclosures about Market Risk	13
Item 4.	Controls and Procedures	13
	PART II – OTHER INFORMATION
Item 1.	Legal Proceedings	14
Item 1A.	Risk Factors	14
Item 2.	Unregistered Sales of Equity Securities and Proceeds	14
Item 3.	Defaults Upon Senior Securities	14
Item 4.	Mine Safety Disclosures	14
Item 5.	Other Information	14
Item 6.	Exhibits	14
SIGNATURES		15

2

PART I – FINANCIAL INFORMATION

Item 1. Condensed Financial Statements

Original Source Music, Inc.

Condensed Balance Sheets

(Unaudited) 

	September 30, 2020			December 31, 2019
	$			$
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current Liabilities
Accounts payable and accrued expenses		14,228			12,353
Due to a related party		26,509			26,509
Total Liabilities		40,737			38,862
Stockholders’ Deficit
Preferred stock, $0.001 par value; 5,000,000 shares authorized; none issued and outstanding		-			-
Common stock, $0.001 par value; 45,000,000 shares authorized 5,073,000 shares issued and outstanding		5,073			5,073
Additional paid-in capital		37,070			37,070
Other reserve		64,410			64,410
Accumulated deficit		(147,290	)		(145,415	)
Total Stockholders’ Deficit		(40,737	)		(38,862	)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT		-			-

See accompanying notes to unaudited condensed financial statements.

3

Original Source Music, Inc.

Condensed Statements of Operations

(Unaudited)

	For the three months ended September 30,						For the nine months ended September 30,
	2020			2019			2020			2019
	$			$			$			$
Revenue		-			-
Other income		-			-
Operating expenses:
General and administrative expenses		-			74			-			81
Professional fees		625			625			1,875			7,353
Total operating expenses		625			699			1,875			7,434
Loss before income taxes		(625	)		(699	)		(1,875	)		(7,434	)
Income tax provision		-			-			-			-
Net loss		(625	)		(699	)		(1,875	)		(7,434	)
Net loss per common share Basic and diluted		(0.00	)*		(0.00	)*		(0.00	)*		(0.00	)*
Weighted number of shares outstanding
Basic and diluted		5,073,000			5,073,000			5,073,000			5,073,000

*denotes net loss per common share of less than $0.01 per share.

See accompanying notes to unaudited condensed financial statements.

4

Original Source Music, Inc.

Condensed Statements of Changes in Stockholders’ Deficit

(Unaudited)

	Shares		Amount ($0.001 Par)		Common stock payable (shares)		Common stock payable (par)		Paid-in capital		Other reserve		Accumulated deficit			Stockholders’ deficit
			$				$		$		$		$			$
Balances at December 31, 2019		5,073,000		5,073		-		-		37,070		64,410		(145.415	)		(38.862	)
Net loss for the period		-		-		-		-		-		-		(625	)		(625	)
Balances at March 31, 2020		5,073,000		5,073		-		-		37,070		64,410		(146,040	)		(39,487	)
Net loss for the period		-		-		-		-		-		-		(625	)		(625	)
Balances at June 30, 2020		5,073,000		5,073		-		-		37,070		64,410		(146,665	)		(40,112	)
Net loss for the period		-		-		-		-		-		-		(625	)		(625	)
Balances at September 30, 2020		5,073,000		5,073		-		-		37,070		64,410		(147,290	)		(40,737	)

	Shares		Amount ($0.001 Par)		Common stock payable (shares)		Common stock payable (par)		Paid-in capital		Other reserve		Accumulated deficit			Stockholders’ deficit
			$				$		$		$		$			$
Balances at December 31, 2018		5,073,000		5,073		-		-		37,070		64,410		(134,432	)		(27,879	)
Net loss for the period		-		-		-		-		-		-		(2,832	)		(2,832	)
Balances at March 31, 2020		5,073,000		5,073		-		-		37,070		64,410		(137,264	)		(30,711	)
Net loss for the period														(3,903	)		(3,903	)
Balances at June 30, 2019		5,073,000		5,073		-		-		37,070		64,410		(141,167	)		(34,614	)
Net loss for the period														(699	)		(699	)
Balances at September 30, 2019		5,073,000		5,073		-		-		37,070		64,410		(141,866	)		(35,313	)

5

Original Source Music, Inc.

Condensed Statements of Cash Flows

(Unaudited)

	For the nine months Ended September 30,
	2020			2019
	$			$
Cash Flows From Operating Activities:
Net loss		(1,875	)		(7,434	)
Change in operating assets and liabilities:
Accounts payable and accrued expenses		1,875			(5,380	)
Due to a related party		-			12,814
Net cash used in operating activities and Net Decrease In Cash		-			-
Cash at beginning of period		-			-
Cash at end of period		-			-
Supplemental disclosure of cash flow information
Cash paid for:
Interest		-			-
Income Taxes		-			-

See accompanying notes to unaudited condensed financial statements.

6

Original Source Music, Inc.

Notes to the Unaudited Condensed Financial Statements

September 30, 2020

NOTE 1 – NATURE OF OPERATIONS AND BASIS OF PRESENTATION

Original Source Music, Inc (the “Company”) was incorporated under the laws of the State of Nevada on August 20, 2009, and established a fiscal year end of December 31. The Company was formed to license songs to the television and movie industry. The Company was a wholly owned subsidiary of Original Source Entertainment, Inc., a publicly traded Nevada corporation. On February 5, 2014, the board of directors of Original Source Entertainment authorized the spin-off of the registrant to shareholders of record as of February 25, 2014.

On March 19, 2018, the Company’s board of directors and officer sold their interest in the Company to Big Emperor, Ltd. a British Virgin Islands company (“Big Emperor”). The total number of shares purchased was 3,500,000 shares of common stock (the “Shares”) of the Company for $93,800 (the “Transaction”). Of the Shares, 3,000,000 were acquired from Lecia L. Walker, the Company’s Chief Executive Officer and a Director, and 500,000 were acquired from Esther Lynn Atwood, a Company Director. The Shares represent approximately 69% of the Company’s issued and outstanding common stock.

Along with the Transaction, the Company’s board of directors appointed Tsang Chi Hin, as its Chief Executive Officer, and as director to hold office until the next annual meeting of shareholders and until his successor is duly elected and qualified or until his resignation or removal. Following the appointment of Mr. Tsang as an officer and director of the Company, Lecia L. Walker resigned her position as our Chief Executive Officer and Director and Esther Lynn Atwood resigned her position as Director. Both resignations were effective as of March 19, 2018.

With the proceeds from their sale of the Shares, Ms. Walker and Ms. Atwood agreed to pay $64,410 to holders of promissory notes issued by the Company in full satisfaction of principal and interest in all outstanding promissory notes issued by the Company. On March 19, 2018, all the Promissory Notes K through Promissory Note W, inclusive, were paid in full. Lecia L. Walker and Esther Lynn Atwood have waived all amounts due by the Company at March 19, 2018.

On September 30, 2019, Mr. Tsang, the sole shareholder of Big Emperor sold his one share of Big Emperor for $270,000.00 to 10 Fields Factory Co., Ltd, a Japanese Company (“10 Fields Factory”). Big Emperor owning 3,500,000 shares of common stock of OSM, represents approximately 69% of OSM’s issued and outstanding common stock. 10 Fields Factory becomes the new shareholder of OSM.

Along with the Transaction, OSM’s sole director appointed ICHIKAWA Hiroshi (“Mr. Ichikawa”), as its Chief Executive Officer, Chief Financial Officer, and as director, also appointed GUNJISHIMA Sayo (“Ms. Gunjishima”) and TONOBE Masatatsu (Mr. Tonobe), as director and to hold office until the next annual meeting of shareholders and until his successor is duly elected and qualified or until his resignation or removal. Following the appointment of Mr. Ichikawa as an officer and director and Ms. Gunjishima and Mr. Tonobe, as a director of OSM, Tsang Chi Hin resigned his position as our Chief Executive Officer and Director with effective as of September 30, 2019.

10 Fields Factory HK Limited – Solar Energy Consultant Company

10 Fields Factory HK Limited (“10FFHK”) is a 100% owned subsidiary of OSM formed under the Hong Kong Companies Ordinance and incorporated on September 30, 2019. 10FFHK is in the solar energy consultant industry, and during the year 2019, 10FFHK was inactive. The Board of Directors will start its business in the forthcoming year.

Other than the abovementioned subsidiary, we have never declared bankruptcy, have never been in receivership, and have never been involved in any legal action or proceedings. We have not made any significant purchase or sale of assets, nor has the registrant been involved in any mergers, acquisitions or consolidations. Neither the registrant, nor its officers, directors, promoters or affiliates, has had preliminary contact or discussions with, nor do we have any present plans, proposals, arrangements or understandings with any representatives of the owners of any business or company regarding the possibility of an acquisition or merger.

7

The Company has decided to not pursue its original business plan and is currently in the process of evaluating new business opportunities after change of shareholders and directors. Our CEO is exploring such options. In additional, the Company is currently not conducting any business.

These condensed financial statements have been prepared on a going concern basis. The Company has incurred net operating losses of $1,875 from inception through September 30, 2020 and has not yet established on going source of revenues sufficient to cover its operating costs and allow it continue as a going concern. As of September 30, 2020, the Company had an accumulated deficit totaling $147,290. The ability of the Company to continue as a going concern is dependent on the Company obtaining the adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations. This raises substantial doubts about our ability to continue as a going concern.

Basis of Presentation

The financial statements present the condensed balance sheets, condensed statements of operations, condensed statements of shareholders’ deficit and condensed statements of cash flows of the Company. These financial statements are presented in the United States dollars and have been prepared in accordance with generally accepted accounting principles (“GAAP”) in the United States of America (“United States”).

Unaudited Condensed Financial Statements

The accompanying unaudited condensed financial statements have been prepared in accordance with generally accepted accounting principles for financial information and with the instructions to Form 10-Q. They do not include all information and footnotes required by United States generally accepted accounting principles for complete financial statements. However, except as disclosed herein, there has been no material changes in the information disclosed in the notes to the financial statements for the year ended December 31, 2019 included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission. The unaudited condensed financial statements should be read in conjunction with those financial statements included in the Form 10-K. In the opinion of the management, all adjustments considered necessary for a fair presentation, consisting solely of normal recurring adjustments, have been made. Operating results for the nine months ended September 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020.

Net Loss per Common Share

Basic loss per share is computed by dividing the net loss attributable to the common stockholders by the weighted average number of shares of common stock outstanding during the period. Fully diluted loss per share is computed similar to basic loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. There were no dilutive financial instruments issued or outstanding for the nine months ended September 30, 2020 or September30, 2019.

Income Taxes

The Company accounts for income taxes pursuant to FASB ASC 740. Deferred tax assets and liabilities are determined based on temporary differences between the bases of certain assets and liabilities for income tax and financial reporting purposes. The deferred tax assets and liabilities are classified according to the financial statement classification of the assets and liabilities generating the differences.

The Company maintains a valuation allowance with respect to deferred tax assets. The Company establishes a valuation allowance based upon the potential likelihood of realizing the deferred tax asset and taking into consideration the Company’s financial position and results of operations for the current period. Future realization of the deferred tax benefit depends on the existence of sufficient taxable income within the carry-forward period under the Federal tax laws.

Changes in circumstances, such as the Company generating taxable income, could cause a change in judgment about the realizability of the related deferred tax asset. Any change in the valuation allowance will be included in income in the year for the change in estimate.

8

Fair Value of Financial Instruments

The Company estimates the fair value of financial instruments using the available market information and valuation methods. Considerable judgment is required in estimating fair value. Accordingly, the estimates of fair value may not be indicative of the amounts the Company could realize in a current market exchange. As of June 30, 2020, the carrying value of accounts payable and accrued expenses and due to a related party approximated to the fair value due to the short-term nature and maturity of these instruments.

Estimates

The financial statements are prepared on the basis of GAAP in the United States. The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities. Actual results could differ from those estimates made by management.

Recent Accounting Pronouncements

From time to time, new accounting pronouncements are issued by the FASB or other standard setting bodies that are adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on the Company’s financial position or results of operations upon adoption.

NOTE 2 – CAPITAL STOCK

The Company’s capitalization is 5,073,000 common shares with a par value of $0.001 per share. No preferred shares have been authorized or issued.

During the nine months ended September 30, 2020 and September 30, 2019, the Company did not issue any additional common stock shares.

NOTE 3 – SUBSEQUENT EVENTS

Subsequent to the balance sheet date, the Company did not have any material recognizable events.

9

Item 2. Management’s Discussion and Analysis or Plan of Operation.

FORWARD-LOOKING STATEMENTS

Certain matters discussed herein are forward-looking statements. Such forward-looking statements contained in this Form 10-Q involve risks and uncertainties, including statements as to:

1.	our future operating results;
2.	our business prospects;
3.	any contractual arrangements and relationships with third parties;
4.	the dependence of our future success on the general economy;
5.	any possible financings; and
6.	the adequacy of our cash resources and working capital.

These forward-looking statements can generally be identified as such because the context of the statement will include words such as we “believe,” “anticipate,” “expect,” “estimate” or words of similar meaning. Similarly, statements that describe our future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties which are described in close proximity to such statements and which could cause actual results to differ materially from those anticipated as of the date of filing of this Form 10-Q. Shareholders, potential investors and other readers are urged to consider these factors in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements included herein are only made as of the date of filing of this Form 10-Q, and we undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

This discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results may differ materially from those anticipated in these forward-looking statements.

Business Overview

Original Source Music, Inc. (the “Company”) was incorporated under the laws of the State of Nevada on August 20, 2009. We were formed to license songs to the television and movie industry. We were a wholly owned subsidiary of Original Source Entertainment, Inc., a publicly traded Nevada corporation. On February 5, 2014, the board of directors of Original Source Entertainment authorized the spin-off of the registrant to shareholders of record as of February 25, 2014.

The spin-off was accomplished in connection with a change of control of Original Source Entertainment. Under the terms of the spin-off, the registrant’s common shares, par value $0.001 per share, were distributed on a pro-rata basis to each holder of Original Source Entrainment’s common shares on the record date without any consideration or action on the part of such holders, and the holders of Original Source Entertainment’s common shares as of the record date will become owners of 100 percent of our common shares. The spin-off was consummated only upon the satisfactory resolution of all comments from the Securities and Exchange Commission to the registration statement on Form 10 and upon its effectiveness.

There was not any material change in the registrant’s operations as a result of the spin-off.

As of September 30, 2020, we had no employees other than our officers, who were also our directors.

On March 19, 2018, the OSM’s board of directors and officer sold their interest in OSM to Big Emperor, Ltd. a British Virgin Islands company (“Big Emperor”). The total number of shares purchased was 3,500,000 shares of common stock (the “Shares”) of OSM for $93,800 (the “Transaction”). Of the Shares, 3,000,000 were acquired from Lecia L. Walker (“Ms. Walker”), OSM’s Chief Executive Officer (“CEO”) and a director, and 500,000 were acquired from Esther Lynn Atwood (“Ms. Atwood”), a director. The Shares represent approximately 69% of OSM’s issued and outstanding common stock.

With the proceeds from the acquisition of the Shares, Ms. Walker and Ms. Atwood agreed to pay $64,410 to holders of promissory notes issued by the Company in full satisfaction of principal and interest in all outstanding promissory notes issued by the Company.

10

On March 19, 2018, the Company’s board of directors appointed Tsang Chi Hin, as its Chief Executive Officer, and as director to hold office until the next annual meeting of shareholders and until his successor is duly elected and qualified or until his resignation or removal.

Following the appointment of Mr. Tsang as an officer and director of the Company, Lecia L. Walker resigned her position as our Chief Executive Officer and Director and Esther Lynn Atwood resigned her position as Director. Both resignations were effective as of March 19, 2018.

On September 30, 2019, Mr. Tsang, the sole shareholder of Big Emperor sold his one share of Big Emperor for $270,000.00 to 10 Fields Factory Co., Ltd, a Japanese Company (“10 Fields Factory”). Big Emperor owning 3,500,000 shares of common stock of OSM, represents approximately 69% of OSM’s issued and outstanding common stock. 10 Fields Factory becomes the new shareholder of OSM.

Along with the Transaction, OSM’s sole director appointed ICHIKAWA Hiroshi (“Mr. Ichikawa”), as its Chief Executive Officer, Chief Financial Officer, and as director, also appointed GUNJISHIMA Sayo (“Ms. Gunjishima”) and TONOBE Masatatsu (Mr. Tonobe), as director and to hold office until the next annual meeting of shareholders and until his successor is duly elected and qualified or until his resignation or removal. Following the appointment of Mr. Ichikawa as an officer and director and Ms. Gunjishima and Mr. Tonobe, as a director of OSM, Tsang Chi Hin resigned his position as our Chief Executive Officer and Director with effective as of September 30, 2019.

10 Fields Factory HK Limited – Solar Energy Consultant Company

10 Fields Factory HK Limited (“10FFHK”) is a 100% owned subsidiary of OSM formed under the Hong Kong Companies Ordinance and incorporated on September 30, 2019. 10FFHK is in the solar energy consultant industry, and during the year 2019, 10FFHK was inactive. The Board of Directors will start its business in the forthcoming year.

Other than the abovementioned subsidiary, we have never declared bankruptcy, have never been in receivership, and have never been involved in any legal action or proceedings. We have not made any significant purchase or sale of assets, nor has the registrant been involved in any mergers, acquisitions or consolidations. Neither the registrant, nor its officers, directors, promoters or affiliates, has had preliminary contact or discussions with, nor do we have any present plans, proposals, arrangements or understandings with any representatives of the owners of any business or company regarding the possibility of an acquisition or merger.

The Company has decided to not pursue its original business plan and is currently in the process of evaluating new business opportunities after change of shareholders and directors. Our CEO is exploring such options. In addition, the Company is currently not conducting any business.

As of September 30, 2020, we had no employee other than our CEOs, who is also our directors.

Critical Accounting Policies, Judgments and Estimates

Our discussion and analysis of our financial condition and results of operations is based upon our financial statements, which have been prepared in accordance with U.S. Generally Accepted Accounting Principles in the United States of America. The preparation of these financial statements requires us to make estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the related disclosure of contingent assets and liabilities. We base our estimates on historical experience and on various other assumptions that we believe are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.

Our critical accounting policies are described in our Annual Report on Form 10-K for the year ended December 31, 2019. There have been no material changes to our critical accounting policies as of and for the nine months ended September 30, 2020.

11

For the unaudited nine months ended September 30, 2020 compared to the nine months ended September 30, 2019

Results of Operations

During the nine months ended September 30, 2020, we generated no revenues of Nil compared to revenues of Nil during the nine months ended September 30, 2019.

During the three and nine months ended September 30, 2020, operating expenses, including general and administrative expenses and professional fees, were $625 and $1,875, respectively, compared to $699 and $7,434 of operating expenses during the three and nine months ended September 30, 2019, respectively. The decrease of $74 and $5,559 in operating expenses during the three and nine months ended September 30, 2020, was primarily attributed to a decrease in professional fees during the three and nine months ended September 30, 2020, respectively.

During the nine months ended September 30, 2020, we generated no revenues of Nil compared to revenues of Nil during the nine months ended September 30, 2019.

During the three and nine months ended September 30, 2020, the Company incurred a net loss of $625 and $1,875, respectively, compared to a net loss of $699 and $7,434 during the three and nine months ended September 30, 2019, respectively. The decrease in the net loss was mainly related to the decreased in operating expenses as discussed above.

Liquidity and Capital Resources

As of September 30, 2020, we had Nil cash balance, and the Company anticipates that our current cash and cash equivalents and cash generated from operations, if any, will be insufficient to satisfy our liquidity requirements for at least the next 12 months.

The principal stockholder has undertaken to finance the Company to continue as a going concern, assuming that the Company would be able to restructure its business and create a revenue-generating operation to support its continuation. However, it is uncertain as for how long the principal stockholder will continue to finance the Company or to what extent such financing may be, and there can be no assurance that the financing from the principal stockholder will not be discontinued.

These uncertainties may result in adverse effects on continuation of the Company as a going concern. The accompanying financial statements do not include or reflect any adjustments that might result from the outcome of these uncertainties.

Operating Activities

The Company neither generated nor used cash in operating activities during the nine months ended September 30, 2020 and 2019.

Investing Activities

The Company neither generated nor used cash in investing activities during the nine months ended September 30, 2020 and 2019.

Financing Activities

The Company neither generated nor used cash in financing activities during the nine months ended September 30, 2020 and 2019.

12

Going Concern

These condensed financial statements have been prepared on a going concern basis. The Company has incurred net operating losses of $1,875 from inception through September 30, 2020 and has not yet established ongoing source of revenues sufficient to cover its operating costs and allow it continues as a going concern. As of September 30, 2020, the Company had an accumulated deficit totaling $147,290. The ability of the Company to continue as a going concern is dependent on the Company obtaining the adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations. This raises substantial doubts about our ability to continue as a going concern.

Off Balance Sheet Arrangements

We have not entered into any off-balance sheet arrangements.

Inflation

We do not believe that inflation has had in the past or will have in the future any significant negative impact on our operations.

Item 3. Quantitative and Qualitative Disclosures about Market Risk

Not required for smaller reporting companies.

Item 4. Controls and Procedures

Our CEO and Chief Accounting Officer is responsible for establishing and maintaining disclosure controls and procedures for the Company.

(a) Evaluation of Disclosure Controls and Procedures

Based on the evaluation as of the end of the period covered by this Quarterly Report on Form 10-Q, our CEO and Chief Accounting Officer concluded that 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”) are effective to ensure that information required to be disclosed by us in reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s (“SECs”) rules and forms and to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is accumulated and communicated to our management, including our CEO and Chief Accounting Officer, as appropriate to allow timely decisions regarding required disclosure.

(b) Changes in the Company’s Internal Controls Over Financial Reporting

Other than described above, there have been no changes in the Company’s internal control over financial reporting during the most recently completed fiscal quarter that have materially affected or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

13

Part II - Other Information

Item 1. Legal Proceedings

There are no legal proceedings, which are pending or have been threatened against us or any of our officers, directors or control persons of which management is aware.

Item 1A. Risk Factors

Not applicable to smaller reporting companies.

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

There were no unregistered sales of equity securities during the nine months ended September 30, 2020 and 2019.

Item 3. Defaults Upon Senior Securities

None

Item 4. Mine Safety Disclosures

Not Applicable

Item 5. Other Information

None

Item 6. Exhibits

Exhibit 31 — Section 302 Certificate of Principal Executive Officer and Principal Financial Officer

Exhibit 32 — Section 906 Certificate of Principal Executive Officer and Principal Financial Officer

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 Label Linkbase Document
101.PRE*	XBRL Taxonomy Extension Presentation Linkbase Document

* XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

Following are a list of exhibits which we previously filed in other reports which we filed with the SEC, including the Exhibit No., description of the exhibit and the identity of the Report where the exhibit was filed.

14

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) 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.

ORIGINAL SOURCE MUSIC, INC.
Dated: November 16, 2020	By:	/s/ ICHIKAWA Hiroshi
		ICHIKAWA Hiroshi
		Chief Executive Officer, Chief Accounting Officer & Chairman

15

EX-31.1

Exhibit 31.1

Certification of the Chief Executive Officer

Pursuant to

Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934

as Adopted Pursuant to

Section 302 of the Sarbanes-Oxley Act of 2002

I, ICHIKAWA Hiroshi, certify that:

1.	I have reviewed this report on Form 10-Q of Original Source Music, 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.	I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:

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

b) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report my 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

c) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s fourth fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. 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 controls over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

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

Date: November 16, 2020	By:	/s/ ICHIKAWA Hiroshi
		ICHIKAWA Hiroshi
		Chief Executive Officer & Chief Accounting Officer

EX-32.1

Exhibit 32.1

CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER

AND PRINCIPAL FINANCIAL OFFICER

Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to

Section 906 of the Sarbanes-Oxley Act of 2002

I, ICHIKAWA Hiroshi, 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 Original Source Music, Inc. on Form 10-Q for the period ended September 30, 2020, fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and that the information contained in such Form 10-Q fairly presents, in all material respects, the financial condition and results of operations of Original Source Music, Inc.

Date: November 16, 2020	/s/ ICHIKAWA Hiroshi
	ICHIKAWA Hiroshi
	Chief Executive Officer & Chief Accounting Officer

XML

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Nov. 16, 2020
Cover [Abstract]
Entity Registrant Name	Original Source Music, Inc.
Entity Central Index Key	0001639836
Document Type	10-Q
Document Period End Date	Sep. 30, 2020
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	true
Entity Common Stock, Shares Outstanding		5,073,000
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2020

XML

Condensed Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Current Liabilities
Accounts payable and accrued expenses	$ 14,228	$ 12,353
Due to a related party	26,509	26,509
Total Liabilities	40,737	38,862
Stockholders' Deficit
Preferred stock, $0.001 par value; 5,000,000 shares authorized; none issued and outstanding
Common stock, $0.001 par value; 45,000,000 shares authorized 5,073,000 shares issued and outstanding	5,073	5,073
Additional paid-in capital	37,070	37,070
Other reserve	64,410	64,410
Accumulated deficit	(147,290)	(145,415)
Total Stockholders' Deficit	(40,737)	(38,862)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT

XML

Condensed Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	45,000,000	45,000,000
Common stock, shares issued	5,073,000	5,073,000
Common stock, shares outstanding	5,073,000	5,073,000

XML

Condensed Statements of Operations (Unaudited) - USD ($)		3 Months Ended		9 Months Ended
		Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Revenue
Other income
Operating expenses:
General and administrative expenses			74		$ 81
Professional fees		625	625	1,875	7,353
Total operating expenses		625	699	1,875	7,434
Loss before income taxes		(625)	(699)	(1,875)	(7,434)
Income tax provision
Net loss		$ (625)	$ (699)	$ (1,875)	$ (7,434)
Net loss per common share Basic and diluted	[1]	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.00)
Weighted number of shares outstanding Basic and diluted		5,073,000	5,073,000	5,073,000	5,073,000

[1] denotes net loss per common share of less than $0.01 per share.

XML

Condensed Statements of Operations (Unaudited) (Parenthetical) - $ / shares		3 Months Ended		9 Months Ended
		Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Net loss per common share	[1]	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.00)
Maximum [Member]
Net loss per common share		$ 0.01	$ 0.01	$ 0.01	$ 0.01

[1] denotes net loss per common share of less than $0.01 per share.

XML

Condensed Statements of Changes in Stockholders' Deficit (Unaudited) - USD ($)	Common Stock [Member]	Common Stock Payable [Member]	Additional Paid-In Capital [Member]	Other Reserve [Member]	Accumulated Deficit [Member]	Total
Balance at Dec. 31, 2018	$ 5,073		$ 37,070	$ 64,410	$ (134,432)	$ (27,879)
Balance, shares at Dec. 31, 2018	5,073,000
Net loss for the period					(2,832)	(2,832)
Balance at Mar. 31, 2019	$ 5,073		37,070	64,410	(137,264)	(30,711)
Balance, shares at Mar. 31, 2019	5,073,000
Balance at Dec. 31, 2018	$ 5,073		37,070	64,410	(134,432)	(27,879)
Balance, shares at Dec. 31, 2018	5,073,000
Net loss for the period						(7,434)
Balance at Sep. 30, 2019	$ 5,073		37,070	64,410	(141,866)	(35,313)
Balance, shares at Sep. 30, 2019	5,073,000
Balance at Mar. 31, 2019	$ 5,073		37,070	64,410	(137,264)	(30,711)
Balance, shares at Mar. 31, 2019	5,073,000
Net loss for the period					(3,903)	(3,903)
Balance at Jun. 30, 2019	$ 5,073		37,070	64,410	(141,167)	(34,614)
Balance, shares at Jun. 30, 2019	5,073,000
Net loss for the period					(699)	(699)
Balance at Sep. 30, 2019	$ 5,073		37,070	64,410	(141,866)	(35,313)
Balance, shares at Sep. 30, 2019	5,073,000
Balance at Dec. 31, 2019	$ 5,073		37,070	64,410	(145,415)	(38,862)
Balance, shares at Dec. 31, 2019	5,073,000
Net loss for the period					(625)	(625)
Balance at Mar. 31, 2020	$ 5,073		37,070	64,410	(146,040)	(39,487)
Balance, shares at Mar. 31, 2020	5,073,000
Balance at Dec. 31, 2019	$ 5,073		37,070	64,410	(145,415)	(38,862)
Balance, shares at Dec. 31, 2019	5,073,000
Net loss for the period						(1,875)
Balance at Sep. 30, 2020	$ 5,073		37,070	64,410	(147,290)	(40,737)
Balance, shares at Sep. 30, 2020	5,073,000
Balance at Mar. 31, 2020	$ 5,073		37,070	64,410	(146,040)	(39,487)
Balance, shares at Mar. 31, 2020	5,073,000
Net loss for the period					(625)	(625)
Balance at Jun. 30, 2020	$ 5,073		37,070	64,410	(146,665)	(40,112)
Balance, shares at Jun. 30, 2020	5,073,000
Net loss for the period					(625)	(625)
Balance at Sep. 30, 2020	$ 5,073		$ 37,070	$ 64,410	$ (147,290)	$ (40,737)
Balance, shares at Sep. 30, 2020	5,073,000

XML

Consolidated Statement of Changes in Shareholders' Deficit (Parenthetical) - $ / shares	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019
Statement of Stockholders' Equity [Abstract]
Common stock, par value	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001

XML

Condensed Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended				9 Months Ended		130 Months Ended
	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020
Cash Flows From Operating Activities:
Net loss	$ (625)	$ (625)	$ (699)	$ (2,832)	$ (1,875)	$ (7,434)	$ (1,250)
Change in operating assets and liabilities:
Accounts payable and accrued expenses					1,875	(5,380)
Due to a related party						12,814
Net cash used in operating activities and Net Decrease In Cash
Cash at beginning of period
Cash at end of period
Cash paid for:
Interest
Income Taxes

XML

Nature of Operations and Basis of Presentation

9 Months Ended

Sep. 30, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Nature of Operations and Basis of Presentation

NOTE 1 – NATURE OF OPERATIONS AND BASIS OF PRESENTATION

Original Source Music, Inc (the “Company”) was incorporated under the laws of the State of Nevada on August 20, 2009, and established a fiscal year end of December 31. The Company was formed to license songs to the television and movie industry. The Company was a wholly owned subsidiary of Original Source Entertainment, Inc., a publicly traded Nevada corporation. On February 5, 2014, the board of directors of Original Source Entertainment authorized the spin-off of the registrant to shareholders of record as of February 25, 2014.

On March 19, 2018, the Company’s board of directors and officer sold their interest in the Company to Big Emperor, Ltd. a British Virgin Islands company (“Big Emperor”). The total number of shares purchased was 3,500,000 shares of common stock (the “Shares”) of the Company for $93,800 (the “Transaction”). Of the Shares, 3,000,000 were acquired from Lecia L. Walker, the Company’s Chief Executive Officer and a Director, and 500,000 were acquired from Esther Lynn Atwood, a Company Director. The Shares represent approximately 69% of the Company’s issued and outstanding common stock.

Along with the Transaction, the Company’s board of directors appointed Tsang Chi Hin, as its Chief Executive Officer, and as director to hold office until the next annual meeting of shareholders and until his successor is duly elected and qualified or until his resignation or removal. Following the appointment of Mr. Tsang as an officer and director of the Company, Lecia L. Walker resigned her position as our Chief Executive Officer and Director and Esther Lynn Atwood resigned her position as Director. Both resignations were effective as of March 19, 2018.

With the proceeds from their sale of the Shares, Ms. Walker and Ms. Atwood agreed to pay $64,410 to holders of promissory notes issued by the Company in full satisfaction of principal and interest in all outstanding promissory notes issued by the Company. On March 19, 2018, all the Promissory Notes K through Promissory Note W, inclusive, were paid in full. Lecia L. Walker and Esther Lynn Atwood have waived all amounts due by the Company at March 19, 2018.

On September 30, 2019, Mr. Tsang, the sole shareholder of Big Emperor sold his one share of Big Emperor for $270,000.00 to 10 Fields Factory Co., Ltd, a Japanese Company (“10 Fields Factory”). Big Emperor owning 3,500,000 shares of common stock of OSM, represents approximately 69% of OSM’s issued and outstanding common stock. 10 Fields Factory becomes the new shareholder of OSM.

Along with the Transaction, OSM’s sole director appointed ICHIKAWA Hiroshi (“Mr. Ichikawa”), as its Chief Executive Officer, Chief Financial Officer, and as director, also appointed GUNJISHIMA Sayo (“Ms. Gunjishima”) and TONOBE Masatatsu (Mr. Tonobe), as director and to hold office until the next annual meeting of shareholders and until his successor is duly elected and qualified or until his resignation or removal. Following the appointment of Mr. Ichikawa as an officer and director and Ms. Gunjishima and Mr. Tonobe, as a director of OSM, Tsang Chi Hin resigned his position as our Chief Executive Officer and Director with effective as of September 30, 2019.

10 Fields Factory HK Limited – Solar Energy Consultant Company

10 Fields Factory HK Limited (“10FFHK”) is a 100% owned subsidiary of OSM formed under the Hong Kong Companies Ordinance and incorporated on September 30, 2019. 10FFHK is in the solar energy consultant industry, and during the year 2019, 10FFHK was inactive. The Board of Directors will start its business in the forthcoming year.

Other than the abovementioned subsidiary, we have never declared bankruptcy, have never been in receivership, and have never been involved in any legal action or proceedings. We have not made any significant purchase or sale of assets, nor has the registrant been involved in any mergers, acquisitions or consolidations. Neither the registrant, nor its officers, directors, promoters or affiliates, has had preliminary contact or discussions with, nor do we have any present plans, proposals, arrangements or understandings with any representatives of the owners of any business or company regarding the possibility of an acquisition or merger. 

The Company has decided to not pursue its original business plan and is currently in the process of evaluating new business opportunities after change of shareholders and directors. Our CEO is exploring such options. In additional, the Company is currently not conducting any business.

These condensed financial statements have been prepared on a going concern basis. The Company has incurred net operating losses of $1,875 from inception through September 30, 2020 and has not yet established on going source of revenues sufficient to cover its operating costs and allow it continue as a going concern. As of September 30, 2020, the Company had an accumulated deficit totaling $147,290. The ability of the Company to continue as a going concern is dependent on the Company obtaining the adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations. This raises substantial doubts about our ability to continue as a going concern.

Basis of Presentation

The financial statements present the condensed balance sheets, condensed statements of operations, condensed statements of shareholders’ deficit and condensed statements of cash flows of the Company. These financial statements are presented in the United States dollars and have been prepared in accordance with generally accepted accounting principles (“GAAP”) in the United States of America (“United States”).

Unaudited Condensed Financial Statements

The accompanying unaudited condensed financial statements have been prepared in accordance with generally accepted accounting principles for financial information and with the instructions to Form 10-Q. They do not include all information and footnotes required by United States generally accepted accounting principles for complete financial statements. However, except as disclosed herein, there has been no material changes in the information disclosed in the notes to the financial statements for the year ended December 31, 2019 included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission. The unaudited condensed financial statements should be read in conjunction with those financial statements included in the Form 10-K. In the opinion of the management, all adjustments considered necessary for a fair presentation, consisting solely of normal recurring adjustments, have been made. Operating results for the nine months ended September 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020.

Net Loss per Common Share

Basic loss per share is computed by dividing the net loss attributable to the common stockholders by the weighted average number of shares of common stock outstanding during the period. Fully diluted loss per share is computed similar to basic loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. There were no dilutive financial instruments issued or outstanding for the nine months ended September 30, 2020 or September30, 2019.

Income Taxes

The Company accounts for income taxes pursuant to FASB ASC 740. Deferred tax assets and liabilities are determined based on temporary differences between the bases of certain assets and liabilities for income tax and financial reporting purposes. The deferred tax assets and liabilities are classified according to the financial statement classification of the assets and liabilities generating the differences.

The Company maintains a valuation allowance with respect to deferred tax assets. The Company establishes a valuation allowance based upon the potential likelihood of realizing the deferred tax asset and taking into consideration the Company’s financial position and results of operations for the current period. Future realization of the deferred tax benefit depends on the existence of sufficient taxable income within the carry-forward period under the Federal tax laws.

Changes in circumstances, such as the Company generating taxable income, could cause a change in judgment about the realizability of the related deferred tax asset. Any change in the valuation allowance will be included in income in the year for the change in estimate. 

Fair Value of Financial Instruments

The Company estimates the fair value of financial instruments using the available market information and valuation methods. Considerable judgment is required in estimating fair value. Accordingly, the estimates of fair value may not be indicative of the amounts the Company could realize in a current market exchange. As of June 30, 2020, the carrying value of accounts payable and accrued expenses and due to a related party approximated to the fair value due to the short-term nature and maturity of these instruments.

Estimates

The financial statements are prepared on the basis of GAAP in the United States. The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities. Actual results could differ from those estimates made by management.

Recent Accounting Pronouncements

From time to time, new accounting pronouncements are issued by the FASB or other standard setting bodies that are adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on the Company’s financial position or results of operations upon adoption.

XML

Capital Stock

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Capital Stock

NOTE 2 – CAPITAL STOCK

The Company’s capitalization is 5,073,000 common shares with a par value of $0.001 per share. No preferred shares have been authorized or issued.

During the nine months ended September 30, 2020 and September 30, 2019, the Company did not issue any additional common stock shares.

XML

Subsequent Events

9 Months Ended

Sep. 30, 2020

Subsequent Events [Abstract]

Subsequent Events

NOTE 3 – SUBSEQUENT EVENTS

Subsequent to the balance sheet date, the Company did not have any material recognizable events.

XML

Nature of Operations and Basis of Presentation (Policies)

9 Months Ended

Sep. 30, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation

Basis of Presentation

The financial statements present the condensed balance sheets, condensed statements of operations, condensed statements of shareholders’ deficit and condensed statements of cash flows of the Company. These financial statements are presented in the United States dollars and have been prepared in accordance with generally accepted accounting principles (“GAAP”) in the United States of America (“United States”).

Unaudited Condensed Financial Statements

Unaudited Condensed Financial Statements

The accompanying unaudited condensed financial statements have been prepared in accordance with generally accepted accounting principles for financial information and with the instructions to Form 10-Q. They do not include all information and footnotes required by United States generally accepted accounting principles for complete financial statements. However, except as disclosed herein, there has been no material changes in the information disclosed in the notes to the financial statements for the year ended December 31, 2019 included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission. The unaudited condensed financial statements should be read in conjunction with those financial statements included in the Form 10-K. In the opinion of the management, all adjustments considered necessary for a fair presentation, consisting solely of normal recurring adjustments, have been made. Operating results for the nine months ended September 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020.

Net Loss per Common Share

Net Loss per Common Share

Basic loss per share is computed by dividing the net loss attributable to the common stockholders by the weighted average number of shares of common stock outstanding during the period. Fully diluted loss per share is computed similar to basic loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. There were no dilutive financial instruments issued or outstanding for the nine months ended September 30, 2020 or September30, 2019.

Income Taxes

Income Taxes

The Company accounts for income taxes pursuant to FASB ASC 740. Deferred tax assets and liabilities are determined based on temporary differences between the bases of certain assets and liabilities for income tax and financial reporting purposes. The deferred tax assets and liabilities are classified according to the financial statement classification of the assets and liabilities generating the differences.

The Company maintains a valuation allowance with respect to deferred tax assets. The Company establishes a valuation allowance based upon the potential likelihood of realizing the deferred tax asset and taking into consideration the Company’s financial position and results of operations for the current period. Future realization of the deferred tax benefit depends on the existence of sufficient taxable income within the carry-forward period under the Federal tax laws.

Changes in circumstances, such as the Company generating taxable income, could cause a change in judgment about the realizability of the related deferred tax asset. Any change in the valuation allowance will be included in income in the year for the change in estimate. 

Fair Value of Financial Instruments

Fair Value of Financial Instruments

The Company estimates the fair value of financial instruments using the available market information and valuation methods. Considerable judgment is required in estimating fair value. Accordingly, the estimates of fair value may not be indicative of the amounts the Company could realize in a current market exchange. As of June 30, 2020, the carrying value of accounts payable and accrued expenses and due to a related party approximated to the fair value due to the short-term nature and maturity of these instruments.

Estimates

Estimates

The financial statements are prepared on the basis of GAAP in the United States. The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities. Actual results could differ from those estimates made by management.

Recent Accounting Pronouncements

Recent Accounting Pronouncements

From time to time, new accounting pronouncements are issued by the FASB or other standard setting bodies that are adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on the Company’s financial position or results of operations upon adoption.

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Nature of Operations and Basis of Presentation (Details Narrative) - USD ($)			3 Months Ended						9 Months Ended		130 Months Ended
	Sep. 30, 2019	Mar. 19, 2018	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Dec. 31, 2019
State of incorporation									NV
Date of incorporation									Aug. 20, 2009
Percentage of common stock share issued and outstanding		69.00%
Number of stock issued
Net operating loss			$ (625)	$ (625)	$ (625)	$ (699)	$ (3,903)	$ (2,832)	$ (1,875)	$ (7,434)	$ (1,250)
Accumulated deficit			$ (147,290)						$ (147,290)		$ (147,290)	$ (145,415)
Ms. Walker and Ms. Atwood [Member]
Promissory note payable		$ 64,410
Lecia L. Walker [Member]
Number of shares acquired from officers		3,000,000
Esther Lynn Atwood [Member]
Number of shares acquired from officers		500,000
Big Emperor, Ltd [Member]
Number of common stock purchased		3,500,000
Common stock share value		$ 93,800
10 Field Factory [Member] | Mr.Tsamg [Member]
Percentage of common stock share issued and outstanding	69.00%					69.00%				69.00%
Number of stock issued, value	$ 270,000
Number of stock issued	3,500,000

XML

Capital Stock (Details Narrative) - $ / shares	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019
Capitalization of common stock	45,000,000			45,000,000
Common stock par value	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001
Preferred stock, shares issued
Preferred stock, shares outstanding
Number of common stock issued during period
Capital Stock [Member]
Capitalization of common stock	5,073,000
Common stock par value	$ 0.001
Preferred stock, shares issued
Preferred stock, shares outstanding