10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

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

For the quarterly period ended: MARCH 31, 2019

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

COMMISSION FILE NUMBER 000-55678

FAH MAI HOLDINGS, INC.

(Exact name of Registrant as Specified in Its Charter)

Delaware	81-3361351
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

1000/196,199 Liberty Buildings, 3rd Floor,
Sukhumvit 55 Road, Klongton Nua,
Wattana, Bangkok	10110
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: +66 807 0617

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 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 for such shorter period that the registrant was required to submit such files). [X] Yes [  ] No.

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

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

Emerging Growth Company [X]

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

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

As of May 20, 2019, 54,171,333 shares of the Registrant’s common stock, par value $0.0001 per share, were issued and outstanding.

Fah Mai Holdings, Inc.

Quarterly Report on Form 10-Q

Period Ended March 31, 2019

Table of Contents

	Page
PART I. FINANCIAL INFORMATION
Item 1. Condensed Consolidated Financial Statements:
Condensed Consolidated Balance Sheets as of March 31, 2019 and December 31, 2018 (Unaudited)	1
Condensed Consolidated Statements of Operations and Comprehensive Loss for the three months ended March 31, 2019 and 2018 (Unaudited)	2
Condensed Consolidated Statement of Changes in Stockholders’ Equity for the three months ended March 31, 2019 and 2018 (Unaudited)	3
Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2019 and 2018 (Unaudited)	4
Notes to Unaudited Condensed Consolidated Financial Statements	5-8
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations & Plan of Operations	9
Item 3. Quantitative and Qualitative Disclosures About Market Risk	10
Item 4. Controls and Procedures	10
PART II. OTHER INFORMATION
Item 1. Legal Proceedings	10
Item 1A. Risk Factors	10
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	10
Item 3. Defaults Upon Senior Securities	10
Item 4. Mine Safety Disclosures	10
Item 5. Other Information	10
Item 6. Exhibits	10
SIGNATURES	11

FAH MAI HOLDINGS, INC.

Condensed Consolidated Balance Sheets

(Unaudited)

	March 31, 2019			December 31, 2018
ASSETS
CURRENT ASSETS
Cash	$	25,486		$	18,575
Prepaid Expenses		1,126			3,226
Inventory, net		506,693			393,788
Total Current Assets		533,305			415,589
Advance to Related Entity - in anticipation of merger		5,217			6,380
TOTAL ASSETS	$	538,522		$	421,969
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES
Accrued Liabilities	$	18,938		$	9,493
Note Payable - Related Party		106,844			-
Deferred Revenue - Cask Fractions		87,281			75,158
Total Current Liabilities		213,063			84,651
STOCKHOLDERS’ EQUITY
Preferred Stock; $0.0001 par value, 20,000,000 shares authorized; no shares issued and outstanding		-			-
Common stock; $0.0001 par value, 100,000,000 shares authorized; 53,757,182 and 53,000,889 shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively		5,376			5,300
Additional Paid-in Capital		1,342,104			950,474
Accumulated Deficit		(1,005,977	)		(613,683	)
Accumulated Other Comprehensive Loss		(16,044	)		(4,773	)
Total Stockholders’ Equity		325,459			337,318
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	538,522		$	421,969

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

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FAH MAI HOLDINGS, INC.

Condensed Consolidated Statements of Operations and Comprehensive Loss

(Unaudited)

	For the Three Months Ended
	March 31, 2019			March 31, 2018
REVENUES	$	1,354		$	-
COST OF GOODS SOLD		793			-
GROSS MARGIN		561			-
OPERATING EXPENSES
General and Administrative Expenses		394,438			39,063
Total Operating Expenses		(394,438	)		(39,063	)
OPERATING LOSS		(393,877	)		(39,063	)
Other Income (Expense)
Other Income		1,578			396
Interest Income		5			-
Total Other Income/(Expense)		1,583			396
NET LOSS BEFORE INCOME TAXES		(392,294	)		(38,667	)
Provision for Income Taxes		-			-
NET LOSS	$	(392,294	)	$	(38,667	)
BASIC AND DILUTED LOSS PER SHARE	$	(0.01	)	$	(0.00	)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING		53,218,159			41,412,711
Other Comprehensive Loss
Exchange Differences arising on translating Foreign Operations		(11,271	)		3,742
Total Comprehensive Loss	$	(403,565	)	$	(34,925	)

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

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FAH MAI HOLDINGS, INC.

Condensed Consolidated Statement of Stockholders’ Equity

(Unaudited)

										Additional						Accumulated Other			Total
	Preferred Stock				Common Stock					Paid-In			Deficit			Comprehensive			Stockholders’
	Shares		Amount		Shares			Amount		Capital			Accumulated			Loss			Equity
Balance, December 31, 2018		-	$	-		53,000,889		$	5,300	$	950,474		$	(613,683	)	$	(4,773	)	$	337,318
Common stock issued for cash		-		-		242,369			24		135,909			-			-			135,933
Common stock acquired with cash and cancelled per repurchase agreements		-		-		(2,200	)		-		(1,100	)		-			-			(1,100	)
Common stock issued for services		-		-		516,124			52		256,821			-			-			256,873
Foreign currency translation		-		-		-			-		-			-			(11,271	)		(11,271	)
Net loss for the period		-		-		-			-		-			(392,294	)		-			(392,294	)
Balance, March 31, 2019		-	$	-		53,757,182		$	5,376	$	1,342,104		$	(1,005,977	)	$	(16,044	)	$	325,459
Balance, December 31, 2017		-	$	-		41,290,970		$	4,129	$	397,649		$	(43,249	)	$	(780	)	$	357,749
Common stock issued for cash		-		-		289,150			29		130,807			-			-			130,836
Foreign currency translation		-		-		-			-		-			-			3,742			3,742
Net loss for the period		-		-		-			-		-			(38,667	)		-			(38,667	)
Balance, March 31, 2018		-	$	-		41,580,120		$	4,158	$	528,456		$	(81,916	)	$	2,962		$	453,660

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

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FAH MAI HOLDINGS, INC.

Condensed Consolidated Statements of Cash Flows

(Unaudited)

	For the Three Months Ended
	March 31, 2019			March 31, 2018
OPERATING ACTIVITIES
Net loss	$	(392,294	)	$	(38,667	)
Adjustments to reconcile net loss to net cash used in operating activities:
Common stock issued for services		256,873			-
Changes in operating assets and liabilities
Prepaid expenses		2,100			-
Inventory		(104,012	)		(41,528	)
Accounts payable and accrued liabilities		9,445			-
Deferred revenue		10,442			-
Net Cash Used in Operating Activities		(217,446	)		(80,195	)
INVESTING ACTIVITIES
Funds received from related party		1,302			-
Issuance of funds to related party		-			(129,322	)
Net Cash Used in Financing Activities		1,302			(129,322	)
FINANCING ACTIVITIES
Proceeds from notes payable - related party		107,166			-
Repurchase and cancellation of common stock		(1,100	)		-
Proceeds from sale of common stock		135,933			130,836
Net Cash Provided by Financing Activities		241,999			130,836
Effect of Exchange Rate Changes on Cash		(18,944	)		3,742
NET INCREASE (DECREASE) IN CASH		6,911			(74,939	)
CASH AT BEGINNING OF PERIOD		18,575			81,118
CASH AT END OF PERIOD	$	25,486		$	6,179
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
CASH PAID FOR:
Interest	$	-		$	-
Income taxes	$	-		$	-

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

4

FAH MAI HOLDINGS, INC.

Notes to Unaudited Condensed Consolidated Financial Statements

March 31, 2019

NOTE 1 – DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION

Nature of Operations

Fah Mai Holdings, Inc. (formerly Finch Street Acquisition Corporation) (“Fah Mai” or the “Company”) was incorporated on July 22, 2016 under the laws of the state of Delaware to engage in any lawful corporate undertaking, including, but not limited to, selected mergers and acquisitions. On June 8, 2018, the Company entered into a merger agreement (the “Merger Agreement”) with Fah Mai Holdings Co., Ltd., a private company organized under the laws of the Thailand (“Fah Mai Thailand”). Under the Merger Agreement, the Company issued to the shareholders of Fah Mai Thailand 400,000 shares of its common stock, valued at $0.0001 per share, in exchange for all of the issued and outstanding equity securities of Fah Mai Thailand (the “Merger”). On November 7, 2017, the Company acquired all outstanding shares of Fah Mai Holdings Limited and Platinum Cask Limited from Louis Haseman at his cost and they became wholly owned subsidiaries of the Company. These companies had no operations and neither assets nor liabilities. On June 8, 2018, the Company entered into a merger agreement (the “Merger Agreement”) with Fah Mai Holdings Co., Ltd., a private company organized under the laws of the Thailand (“Fah Mai Thailand”). Mr. Louis Haseman, who is an officer, director and shareholder of the Company, was an officer and equity holder of Fah Mai Thailand prior to the Merger. As a result of the Merger, Fah Mai Thailand has merged into the Company and ceased to exist and the Company has taken over the operations and business plan of Fah Mai Thailand. This was a merger of net assets between entities under common control. Accordingly, net assets and liabilities of Fah Mai Thailand were recorded on the books of the Company at their historical costs.

Basis of Presentation

The summary of significant accounting policies presented below is designed to assist in understanding the Company’s consolidated financial statements. Such financial statements and accompanying notes are the representations of the Company’s management, who are responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America (“GAAP”) in all material respects, and have been consistently applied in preparing the accompanying financial statements. The Company has not earned any revenue from operations since inception. The Company chose December 31^st as its fiscal year end.

The accompanying unaudited condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted in accordance with such rules and regulations. The information furnished in the interim financial statements includes normal recurring adjustments and reflects all adjustments, which, in the opinion of management, are necessary for a fair presentation of such financial statements. Although management believes the disclosures and information presented are adequate to make the information not misleading, it is suggested that these interim financial statements be read in conjunction with the Company’s audited financial statements and notes thereto included in its Form 10-K for the year ended December 31, 2018. Operating results for the three months ended March 31, 2019 are not necessarily indicative of the results to be expected for the year ending December 31, 2019.

Principles of Consolidation

The accompanying unaudited condensed consolidated financial statements include the accounts of Fah Mai Holdings, Inc. and its wholly owned subsidiaries, Fah Mai Holdings Co., Ltd., Fah Mai Holdings Limited and Platinum Cask Limited (collectively, the “Company”). All intercompany accounts have been eliminated upon consolidation.

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NOTE 2 – GOING CONCERN

The Company has not yet generated significant revenue since inception to date and has sustained an operating loss of $392,294 for the three months ended March 31, 2019 compared to an operating loss of $38,667 for the three months ended March 31, 2018. The Company had a working capital surplus of $320,242 and an accumulated deficit of $1,005,977 as of March 31, 2019 compared to a working capital surplus of $330,938 and an accumulated deficit of $613,683 as of December 31, 2018. The Company’s continuation as a going concern is dependent on its ability to generate sufficient cash flows from operations and from stockholders to meet its obligations and/or obtaining additional financing from its members or other sources, as may be required.

NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

Cash and Cash Equivalents

The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents. The Company had $25,486 and $18,575 held in cash as of as of March 31, 2019 and December 31, 2018, respectively.

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash. The Company places its cash with high quality banking institutions. However, most of the Company’s cash is held outside of the United States of America. The Company did not have cash balances in excess of the Federal Deposit Insurance Corporation limit as of March 31, 2019 or December 31, 2018.

Foreign Currency Translation

The Company has functional currencies in the United States dollar and British Pounds Sterling and its reporting currency is the United States dollar. Management has adopted ASC 830-20, Foreign Currency Matters – Foreign Currency Transactions. All assets and liabilities denominated in foreign currencies are translated into the United States dollar using the exchange rate prevailing at the balance sheet date. For revenues and expenses, the weighted average exchange rate for the period is used. Gains and losses arising on translation of foreign currency denominated items are included in Other Comprehensive Income (Loss), while gains and losses on foreign currency transactions are recorded in the period of settlement as Other Income (Expense).

6

Revenue Recognition

The Company recognizes revenue from the sale of products and services in accordance with ASC 606,”Revenue Recognition” following the five steps procedure:

Step 1: Identify the contract(s) with customers

Step 2: Identify the performance obligations in the contract

Step 3: Determine the transaction price

Step 4: Allocate the transaction price to performance obligations

Step 5: Recognize revenue when the entity satisfies a performance obligation

The Company recognizes revenue when it satisfies its obligation by transferring control of the good or service to the customer. A performance obligation is satisfied over time if one of the following criteria are met:

a.	the customer simultaneously receives and consumes the benefits as the entity performs;
b.	the entity’s performance creates or enhances an asset that the customer controls as the asset is created or enhanced; or
c.	the entity’s performance does not create an asset with an alternative use to the entity, and the entity has an enforceable right to payment for performance completed to date.

Since the Company’s revenues are generated when products are sold with no remaining obligations on the part of the Company, revenue is recognized at the time of sale.

Other Comprehensive Loss

ASC 220, Other Comprehensive Loss, establishes standards for the reporting and display of other comprehensive loss and its components in the consolidated financial statements. At March 31, 2019 and December 31, 2018, respectively, the Company had ($16,044) and ($4,773) of accumulated other comprehensive income (loss), relating to foreign currency translation.

Fair Value of Financial Instruments

In accordance with ASC 820, Fair Value Measurement, the carrying value of cash and cash equivalents and accounts payable approximates fair value due to the short-term maturity of these instruments. ASC 820 clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value as follows:

Level 1- Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date.

Level 2- Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data.

Level 3- Inputs are unobservable inputs which reflect the reporting entity’s own assumptions on what assumptions the market participants would use in pricing the asset or liability based on the best available information.

The carrying amounts reported in the balance sheets for cash, accounts payable and accrued expenses approximate their fair market value based on the short-term maturity of these instruments.

Income Taxes

Under ASC 740, “Income Taxes,” deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Valuation allowances are established when it is more likely than not that some or all of the deferred tax assets will not be realized. As of March 31, 2019 and December 31, 2018, the Company had cumulative net operating losses of $1,005,977 and $613,683, respectively. As of March 31, 2019 and December 31, 2018, there were no deferred taxes due to the uncertainty of the realization of net operating loss or carry forward prior to expiration.

Net Loss per Share

Basic net income (loss) per share is computed by dividing the net income (loss) by the weighted average number of shares of common outstanding during the periods presented. Potentially dilutive common stock equivalents such as stock options, warrants and convertible debt are included in the computation of diluted weighted average of common shares outstanding, unless their effect is anti-dilutive due to net losses. As of March 31, 2019 and December 31, 2018, there are no potentially dilutive common stock equivalents.

Basis of Valuing Inventory

The Company purchases rare Scotch whisky for collection and possible marketing and re-sale. The inventory is recorded at the lower of cost (purchase price including fees) or net realizable value.

NOTE 4 – ADVANCE TO RELATED ENTITY

As of March 31, 2019 and December 31, 2018, the Company had advanced non-interest bearing funds to a related party entity in the amount of $5,217 and $6,380, respectively, in anticipation of acquiring or merging the entity with the Company. All of these proceeds were loaned to a related party, Rare Whisky Auctions (“RWA”), a United Kingdom company controlled by the majority shareholders of the Company. The Company recorded an advance to a related entity – in anticipation of merger on its books for these funds.

7

NOTE 5 – WHISKY INVENTORY AND DEFERRED REVENUE

As of March 31, 2019 and December 31, 2018, the Company had whisky inventory of $506,693 and $393,788, respectively. The inventory is recorded at the lower of cost (purchase price plus fees) or net realizable value. The inventory is made up of rare or special whisky that the Company is acquiring to collect, market, and sell. During the year ended December 31, 2018, the Company began selling Cask Fractions. Cask Fractions are fractions of casks that are in the whisky inventory and are sold to outside parties that would like to invest in rare or special whisky in smaller amounts of money than is required to purchase a complete cask. Upon the sale of these casks, the income associated with these cask fractions that have been purchased is passed on to the investors. The amounts of cask fractions sold totals $87,281 and $75,158 as of March 31, 2019 and December 31, 2018, respectively, and are recorded as deferred revenue.

NOTE 6 – NOTE PAYABLE - RELATED PARTY

As of March 31, 2019 and December 31, 2018, the Company received funds from an officer and director totaling $106,844 and $0, respectively. These funds are unsecured, non-interest bearing and due on demand.

NOTE 7 – COMMON STOCK

Between January 1, 2019 and March 31, 2019, the Company issued 242,369 shares of common stock through 24 stock subscription agreements, which are all unrelated parties, at $0.42 - $0.75 per share and received $135,933 in cash.

During the three months ended March 31, 2019, the Company issued 500,000 shares of common stock to one individual for services. The shares were issued at $0.50 per share and the Company recorded $250,000 in expenses.

During the three months ended March 31, 2019, the Company issued 16,124 shares of common stock to 18 individuals for investment services. The shares were issued from $0.30 to $0.65 per share and the Company recorded $6,873 in expenses.

During the three months ended March 31, 2019, the Company purchased 2,200 shares of common stock from one individual for $0.50 per share for $1,100 in cash per repurchase agreements. These shares were immediately cancelled.

The Company is authorized to issue 100,000,000 shares of common stock and 20,000,000 shares of preferred stock. As of March 31, 2019 and December 31, 2018, respectively, 53,757,182 and 53,000,889 shares of common stock and no preferred stock were issued and outstanding.

NOTE 8 – SUBSEQUENT EVENTS

Management has evaluated subsequent events, in accordance with FASB ASC Topic 855, “Subsequent Events,” through March 20, 2019, the date which the unaudited consolidated financial statements were issued and there are no material subsequent events, except as detailed below:

From April 1, 2019 through May 20, 2019, the Company issued 34,176 shares of common stock to 15 unaffiliated individuals at $.50 - $.65 per share for investment services for a value of $17,121.

From April 1, 2019 through May 20, 2019, the Company issued 379,975 shares of common stock to 9 unaffiliated individuals at $.21 - $.75 per share for net proceeds of $160,872.

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

The following discussion should be read in conjunction with the financial statements and notes thereto included in this report. Except for the historical information contained herein, the discussion in this report contains certain forward-looking statements that involve risk and uncertainties, such as statements of the Company’s plans, objectives, expectations and intentions as of the date of this filing. The cautionary statements made in this document should be read as being applicable to all related forward-looking statements wherever they appear in this document. The Company’s actual results could differ materially from those discussed here.

Results of Operations

Three months ended March 31, 2019

For the three months ended March 31, 2019 and 2018, Fah Mai Holdings Inc. generated revenues of $1,354 and $0, respectively, and has had no income or positive cash flows from operations since inception. Fah Mai Holdings Inc. sustained net losses of $392,294 and $38,667 during the three months ended March 31, 2019 and 2018, respectively. The increase of $353,627 is due primarily to the Company incurring $269,262 in stock-based compensation and other professional services, payroll expenses of $43,735, an increase of $11,397 in computer and internet expenses and an increase of $33,052 in advertising expenses. The loss is largely attributed to operating expenses incurred by the Company, for the purposes of paying for accounting, legal and audit fees, its operations in Thailand and the efforts to build its whisky inventory.

The Company’s independent auditors have issued a report on the Company’s December 31, 2018 audited financial statements raising substantial doubt about the Company’s ability to continue as a going concern. At present, the Company has no operations and the continuation of Fah Mai Holdings Inc. as a going concern is dependent upon financial support from its stockholders and its ability to obtain necessary equity financing to continue operations.

Liquidity and Capital Resources

As of March 31, 2019 and December 31, 2018, the Company had $25,486 and $18,575, respectively, in cash.

Going Concern Consideration

As reflected in the accompanying unaudited condensed financial statements, the Company has an accumulated deficit of $1,005,977 as of March 31, 2019 and $613,683 as of December 31, 2018. This raises substantial doubt about its ability to continue as a going concern, which is dependent on the Company’s ability to raise additional capital and implement its business plan. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

Operating Activities

The Company used $217,446 and $80,195 in cash during the three months ended March 31, 2019 and 2018, respectively, for operating activities.

9

Investing Activities

The Company issued funds to a related party in the amount of $0 and $129,322 and received funds back from a related party in the amount of $1,302 and $0 during the three months ended March 31, 2019 and 2018, respectively.

Financing Activities

The Company received $107,166 and $0 in proceeds from a note payable with a related party during the three months ended March 31, 2019 and 2018, respectively. The Company received $135,933 in cash for the issuance of 242,369 shares of common stock during the three months ended March 31, 2019, and received $130,836 in cash for the issuance of 289,150 shares of common stock during the three months ended March 31, 2018. The Company also paid $1,100 in cash for the repurchase of cancellation of 2,200 shares of common stock during the three months ended March 31, 2019 per a repurchase agreement.

ITEM 3. Quantitative and Qualitative Disclosures About Market Risk

Not required.

ITEM 4. CONTROLS AND PROCEDURES

Disclosure Controls and Procedures

As of March 31, 2019 (the “Evaluation Date”), the Company’s management evaluated, with participation of its principal executive officer and its principal financial officer, the effectiveness of the Company’s disclosure controls and procedures, as defined in Rules 13a-15 of the Securities Exchange Act of 1934, as amended (the Exchange Act). Based on that evaluation, the Company’s principal executive officer and its principal financial officer concluded that the Company’s disclosure controls and procedures were ineffective as of March 31, 2019.

Management assessed the effectiveness of our internal control over financial reporting as of the Evaluation Date based on criteria for effective internal control over financial reporting described in Internal Control—Integrated Framework issued in 2013 by the Committee of Sponsoring Organizations of the Treadway Commission. The material weaknesses identified during management’s assessment were (i) a lack of sufficient internal accounting resources; and (ii) a lack of segregation of duties to ensure adequate review of financial statement preparation. In light of these material weaknesses, management has concluded that we did not maintain effective internal control over financial reporting at the Evaluation Date.

Change in Internal Control over Financial Reporting

There were no changes in the Company’s internal control over financial reporting, or in any other factors that could significantly affect these controls, during the Company’s quarter ended March 31, 2019 that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

PART II. OTHER INFORMATION

Item 1. Legal Proceedings.

As of the date of this Quarterly Report on Form 10-Q, we are not a party to any legal proceedings.

Item 1A. Risk Factors

In accordance with the requirements of Form 10-Q, the Company, as a smaller reporting company, is not required to make disclosure under this item.

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

During January 1, 2019 through the present, the Company issued 622,344 shares of common stock for net proceeds of $296,805 through 33 stock subscription agreements, which are all unrelated parties.

During the three months ended March 31, 2019, the Company issued 500,000 shares of common stock to Steven Wilkin for services. The shares were issued at $0.50 per share and the Company recorded $250,000 in expenses.

From January 1, 2019 through the present, the Company issued 50,300 shares of common stock to 33 individuals, which are all unrelated parties, for investment services. The shares were issued from $0.30 to $0.65 per share and the Company recorded $23,994 in expenses.

Item 3. Defaults Upon Senior Securities.

None.

Item 4. Mine Safety Disclosures

None.

Item 5. Other Information

None.

Item 6. Exhibits.

31.1	Certification of the Chief Executive Officer and Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1	Certification of the Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

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SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Dated: May 20, 2019	FAH MAI HOLDINGS, INC.
	By:	/s/ Louis J Haseman
		Chief Executive Officer

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EX-31.1

Exhibit 31.1

CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER PURSUANT TO RULE 13A-14(A) OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED, AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Louis J Haseman, Chief Executive Officer (principal executive officer of Fah Mai Holdings Inc. certify that:

1.	I have reviewed this quarterly report on Form 10-Q of Fah Mai Holdings Inc.;
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.	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 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. I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of 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.

Dated: May 20, 2019	FAH MAI HOLDINGS, INC.
	By:	/s/ Louis J Haseman
		Louis J Haseman, Chief Executive Officer

EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 906

OF THE SARBANES-OXLEY ACT OF 2002

In connection with the quarterly report on Form 10-Q for the period ended March 31, 2019, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Louis J Haseman, Chief Executive Officer and Chief Financial Officer of Fah Mai Holdings Inc. (the “Company”), hereby certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(a)	The Quarterly Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
(b)	The information contained in the Quarterly Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated: May 20, 2019	FAH MAI HOLDINGS, INC.
	By:	/s/ Louis J Haseman
		Louis J Haseman, Chief Executive Officer

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

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Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	May 20, 2019
Document And Entity Information
Entity Registrant Name	FAH MAI HOLDINGS, INC.
Entity Central Index Key	0001681306
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		54,171,333
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2019

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
CURRENT ASSETS
Cash	$ 25,486	$ 18,575
Prepaid Expenses	1,126	3,226
Inventory, net	506,693	393,788
Total Current Assets	533,305	415,589
Advance to Related Entity - in anticipation of merger	5,217	6,380
TOTAL ASSETS	538,522	421,969
CURRENT LIABILITIES
Accrued Liabilities	18,938	9,493
Note Payable - Related Party	106,844
Deferred Revenue - Cask Fractions	87,281	75,158
Total Current Liabilities	213,063	84,651
STOCKHOLDERS' EQUITY
Preferred Stock; $0.0001 par value, 20,000,000 shares authorized; no shares issued and outstanding
Common stock; $0.0001 par value, 100,000,000 shares authorized; 53,757,182 and 53,000,889 shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively	5,376	5,300
Additional Paid-in Capital	1,342,104	950,474
Accumulated Deficit	(1,005,977)	(613,683)
Accumulated Other Comprehensive Loss	(16,044)	(4,773)
Total Stockholders' Equity	325,459	337,318
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 538,522	$ 421,969

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Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	53,757,182	53,000,889
Common stock, shares outstanding	53,757,182	53,000,889

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Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Statement [Abstract]
REVENUES	$ 1,354
COST OF GOODS SOLD	793
GROSS MARGIN	561
OPERATING EXPENSES
General and Administrative Expenses	394,438	39,063
Total Operating Expenses	(394,438)	(39,063)
OPERATING LOSS	(393,877)	(39,063)
Other Income (Expense)
Other Income	1,578	396
Interest Income	5
Total Other Income/(Expense)	1,583	396
NET LOSS BEFORE INCOME TAXES	(392,294)	(38,667)
Provision for Income Taxes
NET LOSS	$ (392,294)	$ (38,667)
BASIC AND DILUTED LOSS PER SHARE	$ (0.01)	$ (0.00)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	53,218,159	41,412,711
Other Comprehensive Loss
Exchange Differences arising on translating Foreign Operations	$ (11,271)	$ 3,742
Total Comprehensive Loss	$ (403,565)	$ (34,925)

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Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($)	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-In Capital [Member]	Deficit Accumulated [Member]	Accumulated Other Comprehensive Loss [Member]	Total
Balance at Dec. 31, 2017		$ 4,129	$ 397,649	$ (43,249)	$ (780)	$ 357,749
Balance, shares at Dec. 31, 2017		41,290,970
Common stock issued for cash		$ 29	130,807			130,836
Common stock issued for cash, shares		289,150
Foreign currency translation					3,742	3,742
Net loss				(38,667)		(38,667)
Balance at Mar. 31, 2018		$ 4,158	528,456	(81,916)	2,962	453,660
Balance, shares at Mar. 31, 2018		41,580,120
Balance at Dec. 31, 2018		$ 5,300	950,474	(613,683)	(4,773)	337,318
Balance, shares at Dec. 31, 2018		53,000,889
Common stock issued for cash		$ 24	135,909			135,933
Common stock issued for cash, shares		242,369
Common stock acquired with cash and cancelled per repurchase agreements			(1,100)			(1,100)
Common stock acquired with cash and cancelled per repurchase agreements, shares		(2,200)
Common stock issued for services		$ 52	256,821			256,873
Common stock issued for services, shares		516,124
Foreign currency translation					(11,271)	(11,271)
Net loss				(392,294)		(392,294)
Balance at Mar. 31, 2019		$ 5,376	$ 1,342,104	$ (1,005,977)	$ (16,044)	$ 325,459
Balance, shares at Mar. 31, 2019		53,757,182

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
OPERATING ACTIVITIES
Net loss	$ (392,294)	$ (38,667)
Adjustments to reconcile net loss to net cash used in operating activities:
Common stock issued for services	256,873
Changes in operating assets and liabilities
Prepaid expenses	2,100
Inventory	(104,012)	(41,528)
Accounts payable and accrued liabilities	9,445
Deferred revenue	10,442
Net Cash Used in Operating Activities	(217,446)	(80,195)
INVESTING ACTIVITIES
Funds received from related party	1,302
Issuance of funds to related party		(129,322)
Net Cash Used in Financing Activities	1,302	(129,322)
FINANCING ACTIVITIES
Proceeds from notes payable - related party	107,166
Repurchase and cancellation of common stock	(1,100)
Proceeds from sale of common stock	135,933	130,836
Net Cash Provided by Financing Activities	241,999	130,836
Effect of Exchange Rate Changes on Cash	(18,944)	3,742
NET INCREASE (DECREASE) IN CASH	6,911	(74,939)
CASH AT BEGINNING OF PERIOD	18,575	81,118
CASH AT END OF PERIOD	25,486	6,179
CASH PAID FOR:
Interest
Income taxes

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Description of Business and Basis of Presentation

3 Months Ended

Mar. 31, 2019

Accounting Policies [Abstract]

Description of Business and Basis of Presentation

NOTE 1 – DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION

Nature of Operations

Fah Mai Holdings, Inc. (formerly Finch Street Acquisition Corporation) (“Fah Mai” or the “Company”) was incorporated on July 22, 2016 under the laws of the state of Delaware to engage in any lawful corporate undertaking, including, but not limited to, selected mergers and acquisitions. On June 8, 2018, the Company entered into a merger agreement (the “Merger Agreement”) with Fah Mai Holdings Co., Ltd., a private company organized under the laws of the Thailand (“Fah Mai Thailand”). Under the Merger Agreement, the Company issued to the shareholders of Fah Mai Thailand 400,000 shares of its common stock, valued at $0.0001 per share, in exchange for all of the issued and outstanding equity securities of Fah Mai Thailand (the “Merger”). On November 7, 2017, the Company acquired all outstanding shares of Fah Mai Holdings Limited and Platinum Cask Limited from Louis Haseman at his cost and they became wholly owned subsidiaries of the Company. These companies had no operations and neither assets nor liabilities. On June 8, 2018, the Company entered into a merger agreement (the “Merger Agreement”) with Fah Mai Holdings Co., Ltd., a private company organized under the laws of the Thailand (“Fah Mai Thailand”). Mr. Louis Haseman, who is an officer, director and shareholder of the Company, was an officer and equity holder of Fah Mai Thailand prior to the Merger. As a result of the Merger, Fah Mai Thailand has merged into the Company and ceased to exist and the Company has taken over the operations and business plan of Fah Mai Thailand. This was a merger of net assets between entities under common control. Accordingly, net assets and liabilities of Fah Mai Thailand were recorded on the books of the Company at their historical costs.

Basis of Presentation

The summary of significant accounting policies presented below is designed to assist in understanding the Company’s consolidated financial statements. Such financial statements and accompanying notes are the representations of the Company’s management, who are responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America (“GAAP”) in all material respects, and have been consistently applied in preparing the accompanying financial statements. The Company has not earned any revenue from operations since inception. The Company chose December 31^st as its fiscal year end.

The accompanying unaudited condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted in accordance with such rules and regulations. The information furnished in the interim financial statements includes normal recurring adjustments and reflects all adjustments, which, in the opinion of management, are necessary for a fair presentation of such financial statements. Although management believes the disclosures and information presented are adequate to make the information not misleading, it is suggested that these interim financial statements be read in conjunction with the Company’s audited financial statements and notes thereto included in its Form 10-K for the year ended December 31, 2018. Operating results for the three months ended March 31, 2019 are not necessarily indicative of the results to be expected for the year ending December 31, 2019.

Principles of Consolidation

The accompanying unaudited condensed consolidated financial statements include the accounts of Fah Mai Holdings, Inc. and its wholly owned subsidiaries, Fah Mai Holdings Co., Ltd., Fah Mai Holdings Limited and Platinum Cask Limited (collectively, the “Company”). All intercompany accounts have been eliminated upon consolidation.

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Going Concern

3 Months Ended

Mar. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Going Concern

NOTE 2 – GOING CONCERN

The Company has not yet generated significant revenue since inception to date and has sustained an operating loss of $392,294 for the three months ended March 31, 2019 compared to an operating loss of $38,667 for the three months ended March 31, 2018. The Company had a working capital surplus of $320,242 and an accumulated deficit of $1,005,977 as of March 31, 2019 compared to a working capital surplus of $330,938 and an accumulated deficit of $613,683 as of December 31, 2018. The Company’s continuation as a going concern is dependent on its ability to generate sufficient cash flows from operations and from stockholders to meet its obligations and/or obtaining additional financing from its members or other sources, as may be required.

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Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2019

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

Cash and Cash Equivalents

The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents. The Company had $25,486 and $18,575 held in cash as of as of March 31, 2019 and December 31, 2018, respectively.

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash. The Company places its cash with high quality banking institutions. However, most of the Company’s cash is held outside of the United States of America. The Company did not have cash balances in excess of the Federal Deposit Insurance Corporation limit as of March 31, 2019 or December 31, 2018.

Foreign Currency Translation

The Company has functional currencies in the United States dollar and British Pounds Sterling and its reporting currency is the United States dollar. Management has adopted ASC 830-20, Foreign Currency Matters – Foreign Currency Transactions. All assets and liabilities denominated in foreign currencies are translated into the United States dollar using the exchange rate prevailing at the balance sheet date. For revenues and expenses, the weighted average exchange rate for the period is used. Gains and losses arising on translation of foreign currency denominated items are included in Other Comprehensive Income (Loss), while gains and losses on foreign currency transactions are recorded in the period of settlement as Other Income (Expense).

Revenue Recognition

The Company recognizes revenue from the sale of products and services in accordance with ASC 606,”Revenue Recognition” following the five steps procedure:

Step 1: Identify the contract(s) with customers

Step 2: Identify the performance obligations in the contract

Step 3: Determine the transaction price

Step 4: Allocate the transaction price to performance obligations

Step 5: Recognize revenue when the entity satisfies a performance obligation

The Company recognizes revenue when it satisfies its obligation by transferring control of the good or service to the customer. A performance obligation is satisfied over time if one of the following criteria are met:

a.	the customer simultaneously receives and consumes the benefits as the entity performs;
b.	the entity’s performance creates or enhances an asset that the customer controls as the asset is created or enhanced; or
c.	the entity’s performance does not create an asset with an alternative use to the entity, and the entity has an enforceable right to payment for performance completed to date.

Since the Company’s revenues are generated when products are sold with no remaining obligations on the part of the Company, revenue is recognized at the time of sale.

Other Comprehensive Loss

ASC 220, Other Comprehensive Loss, establishes standards for the reporting and display of other comprehensive loss and its components in the consolidated financial statements. At March 31, 2019 and December 31, 2018, respectively, the Company had ($16,044) and ($4,773) of accumulated other comprehensive income (loss), relating to foreign currency translation.

Fair Value of Financial Instruments

In accordance with ASC 820, Fair Value Measurement, the carrying value of cash and cash equivalents and accounts payable approximates fair value due to the short-term maturity of these instruments. ASC 820 clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value as follows:

Level 1- Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date.

Level 2- Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data.

Level 3- Inputs are unobservable inputs which reflect the reporting entity’s own assumptions on what assumptions the market participants would use in pricing the asset or liability based on the best available information.

The carrying amounts reported in the balance sheets for cash, accounts payable and accrued expenses approximate their fair market value based on the short-term maturity of these instruments.

Income Taxes

Under ASC 740, “Income Taxes,” deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Valuation allowances are established when it is more likely than not that some or all of the deferred tax assets will not be realized. As of March 31, 2019 and December 31, 2018, the Company had cumulative net operating losses of $1,005,977 and $613,683, respectively. As of March 31, 2019 and December 31, 2018, there were no deferred taxes due to the uncertainty of the realization of net operating loss or carry forward prior to expiration.

Net Loss per Share

Basic net income (loss) per share is computed by dividing the net income (loss) by the weighted average number of shares of common outstanding during the periods presented. Potentially dilutive common stock equivalents such as stock options, warrants and convertible debt are included in the computation of diluted weighted average of common shares outstanding, unless their effect is anti-dilutive due to net losses. As of March 31, 2019 and December 31, 2018, there are no potentially dilutive common stock equivalents.

Basis of Valuing Inventory

The Company purchases rare Scotch whisky for collection and possible marketing and re-sale. The inventory is recorded at the lower of cost (purchase price including fees) or net realizable value.

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Advance to Related Entity

3 Months Ended

Mar. 31, 2019

Related Party Transactions [Abstract]

Advance to Related Entity

NOTE 4 – ADVANCE TO RELATED ENTITY

As of March 31, 2019 and December 31, 2018, the Company had advanced non-interest bearing funds to a related party entity in the amount of $5,217 and $6,380, respectively, in anticipation of acquiring or merging the entity with the Company. All of these proceeds were loaned to a related party, Rare Whisky Auctions (“RWA”), a United Kingdom company controlled by the majority shareholders of the Company. The Company recorded an advance to a related entity – in anticipation of merger on its books for these funds.

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Whisky Inventory and Deferred Revenue

3 Months Ended

Mar. 31, 2019

Inventory Disclosure [Abstract]

Whisky Inventory and Deferred Revenue

NOTE 5 – WHISKY INVENTORY AND DEFERRED REVENUE

As of March 31, 2019 and December 31, 2018, the Company had whisky inventory of $506,693 and $393,788, respectively. The inventory is recorded at the lower of cost (purchase price plus fees) or net realizable value. The inventory is made up of rare or special whisky that the Company is acquiring to collect, market, and sell. During the year ended December 31, 2018, the Company began selling Cask Fractions. Cask Fractions are fractions of casks that are in the whisky inventory and are sold to outside parties that would like to invest in rare or special whisky in smaller amounts of money than is required to purchase a complete cask. Upon the sale of these casks, the income associated with these cask fractions that have been purchased is passed on to the investors. The amounts of cask fractions sold totals $87,281 and $75,158 as of March 31, 2019 and December 31, 2018, respectively, and are recorded as deferred revenue.

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Note Payable - Related Party

3 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Note Payable - Related Party

NOTE 6 – NOTE PAYABLE - RELATED PARTY

As of March 31, 2019 and December 31, 2018, the Company received funds from an officer and director totaling $106,844 and $0, respectively. These funds are unsecured, non-interest bearing and due on demand.

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Common Stock

3 Months Ended

Mar. 31, 2019

Equity [Abstract]

Common Stock

NOTE 7 – COMMON STOCK

Between January 1, 2019 and March 31, 2019, the Company issued 242,369 shares of common stock through 24 stock subscription agreements, which are all unrelated parties, at $0.42 - $0.75 per share and received $135,933 in cash.

During the three months ended March 31, 2019, the Company issued 500,000 shares of common stock to one individual for services. The shares were issued at $0.50 per share and the Company recorded $250,000 in expenses.

During the three months ended March 31, 2019, the Company issued 16,124 shares of common stock to 18 individuals for investment services. The shares were issued from $0.30 to $0.65 per share and the Company recorded $6,873 in expenses.

During the three months ended March 31, 2019, the Company purchased 2,200 shares of common stock from one individual for $0.50 per share for $1,100 in cash per repurchase agreements. These shares were immediately cancelled.

The Company is authorized to issue 100,000,000 shares of common stock and 20,000,000 shares of preferred stock. As of March 31, 2019 and December 31, 2018, respectively, 53,757,182 and 53,000,889 shares of common stock and no preferred stock were issued and outstanding.

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Subsequent Events

3 Months Ended

Mar. 31, 2019

Subsequent Events [Abstract]

Subsequent Events

NOTE 8 – SUBSEQUENT EVENTS

Management has evaluated subsequent events, in accordance with FASB ASC Topic 855, “Subsequent Events,” through March 20, 2019, the date which the unaudited consolidated financial statements were issued and there are no material subsequent events, except as detailed below:

From April 1, 2019 through May 20, 2019, the Company issued 34,176 shares of common stock to 15 unaffiliated individuals at $.50 - $.65 per share for investment services for a value of $17,121.

From April 1, 2019 through May 20, 2019, the Company issued 379,975 shares of common stock to 9 unaffiliated individuals at $.21 - $.75 per share for net proceeds of $160,872.

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Summary of Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2019

Accounting Policies [Abstract]

Use of Estimates

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

Cash and Cash Equivalents

Cash and Cash Equivalents

The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents. The Company had $25,486 and $18,575 held in cash as of as of March 31, 2019 and December 31, 2018, respectively.

Concentration of Credit Risk

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash. The Company places its cash with high quality banking institutions. However, most of the Company’s cash is held outside of the United States of America. The Company did not have cash balances in excess of the Federal Deposit Insurance Corporation limit as of March 31, 2019 or December 31, 2018.

Foreign Currency Translation

Foreign Currency Translation

The Company has functional currencies in the United States dollar and British Pounds Sterling and its reporting currency is the United States dollar. Management has adopted ASC 830-20, Foreign Currency Matters – Foreign Currency Transactions. All assets and liabilities denominated in foreign currencies are translated into the United States dollar using the exchange rate prevailing at the balance sheet date. For revenues and expenses, the weighted average exchange rate for the period is used. Gains and losses arising on translation of foreign currency denominated items are included in Other Comprehensive Income (Loss), while gains and losses on foreign currency transactions are recorded in the period of settlement as Other Income (Expense).

Revenue Recognition

Revenue Recognition

The Company recognizes revenue from the sale of products and services in accordance with ASC 606,”Revenue Recognition” following the five steps procedure:

Step 1: Identify the contract(s) with customers

Step 2: Identify the performance obligations in the contract

Step 3: Determine the transaction price

Step 4: Allocate the transaction price to performance obligations

Step 5: Recognize revenue when the entity satisfies a performance obligation

The Company recognizes revenue when it satisfies its obligation by transferring control of the good or service to the customer. A performance obligation is satisfied over time if one of the following criteria are met:

a.	the customer simultaneously receives and consumes the benefits as the entity performs;
b.	the entity’s performance creates or enhances an asset that the customer controls as the asset is created or enhanced; or
c.	the entity’s performance does not create an asset with an alternative use to the entity, and the entity has an enforceable right to payment for performance completed to date.

Since the Company’s revenues are generated when products are sold with no remaining obligations on the part of the Company, revenue is recognized at the time of sale.

Other Comprehensive Loss

Other Comprehensive Loss

ASC 220, Other Comprehensive Loss, establishes standards for the reporting and display of other comprehensive loss and its components in the consolidated financial statements. At March 31, 2019 and December 31, 2018, respectively, the Company had ($16,044) and ($4,773) of accumulated other comprehensive income (loss), relating to foreign currency translation.

Fair Value of Financial Instruments

Fair Value of Financial Instruments

In accordance with ASC 820, Fair Value Measurement, the carrying value of cash and cash equivalents and accounts payable approximates fair value due to the short-term maturity of these instruments. ASC 820 clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value as follows:

Level 1- Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date.

Level 2- Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data.

Level 3- Inputs are unobservable inputs which reflect the reporting entity’s own assumptions on what assumptions the market participants would use in pricing the asset or liability based on the best available information.

The carrying amounts reported in the balance sheets for cash, accounts payable and accrued expenses approximate their fair market value based on the short-term maturity of these instruments.

Income Taxes

Income Taxes

Under ASC 740, “Income Taxes,” deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Valuation allowances are established when it is more likely than not that some or all of the deferred tax assets will not be realized. As of March 31, 2019 and December 31, 2018, the Company had cumulative net operating losses of $1,005,977 and $613,683, respectively. As of March 31, 2019 and December 31, 2018, there were no deferred taxes due to the uncertainty of the realization of net operating loss or carry forward prior to expiration.

Net Loss Per Share

Net Loss per Share

Basic net income (loss) per share is computed by dividing the net income (loss) by the weighted average number of shares of common outstanding during the periods presented. Potentially dilutive common stock equivalents such as stock options, warrants and convertible debt are included in the computation of diluted weighted average of common shares outstanding, unless their effect is anti-dilutive due to net losses. As of March 31, 2019 and December 31, 2018, there are no potentially dilutive common stock equivalents.

Basis of Valuing Inventory

Basis of Valuing Inventory

The Company purchases rare Scotch whisky for collection and possible marketing and re-sale. The inventory is recorded at the lower of cost (purchase price including fees) or net realizable value.

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Description of Business and Basis of Presentation (Details Narrative) - Merger Agreement [Member]	Jun. 08, 2018 $ / shares shares
Number of common shares issued during period, shares | shares	400,000
Shares issued, price per share | $ / shares	$ 0.0001

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Going Concern (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Operating loss, net	$ 392,294	$ 38,667
Working capital surplus	320,242		$ 330,938
Accumulated deficit	$ 1,005,977		$ 613,683

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Summary of Significant Accounting Policies (Details Narrative) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Cash	$ 25,486	$ 18,575	$ 6,179	$ 81,118
Cash balances in FDIC corp
Accumulated other comprehensive income (loss)	(16,044)	(4,773)
Net operating losses	1,005,977	613,683
Deferred taxes due
Outstanding dilutive common stock equivalents

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Advance to Related Entity (Details Narrative) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Related Party Transactions [Abstract]
Advance to related entity in anticipation of merger	$ 5,217	$ 6,380

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Whisky Inventory and Deferred Revenue (Details Narrative) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Whisky inventory	$ 506,693	$ 393,788
Deferred Revenue - Cask Fractions	$ 87,281	$ 75,158

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Note Payable - Related Party (Details Narrative) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
Received funds from related party	$ 106,844	$ 0

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Common Stock (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Proceeds from sale of common stock	$ 135,933	$ 130,836
Value of shares issued for services	256,873
Number of common shares issued, value	$ 135,933	$ 130,836
Common stock shares authorized	100,000,000		100,000,000
Preferred stock, shares authorized	20,000,000		20,000,000
Common stock, shares issued	53,757,182		53,000,889
Common stock, shares outstanding	53,757,182		53,000,889
Preferred stock, shares issued
Preferred stock, shares outstanding
24 Stock Subscription Agreements [Member]
Number of common shares issued during period, shares	242,369
Proceeds from sale of common stock	$ 135,933
Minimum [Member] | 24 Stock Subscription Agreements [Member]
Shares issued, price per share	$ 0.42
Maximum [Member] | 24 Stock Subscription Agreements [Member]
Shares issued, price per share	0.75
One Individual [Member]
Shares issued, price per share	$ 0.50
Number of commons stock shares issued for services	500,000
Value of shares issued for services	$ 250,000
18 Individuals [Member]
Number of commons stock shares issued for services	16,124
Value of shares issued for services	$ 6,873
18 Individuals [Member] | Minimum [Member]
Shares issued, price per share	$ 0.30
18 Individuals [Member] | Maximum [Member]
Shares issued, price per share	$ 0.65

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Subsequent Events (Details Narrative) - USD ($)	2 Months Ended	3 Months Ended
	May 20, 2019	Mar. 31, 2019	Mar. 31, 2018
Value of shares issued for services		$ 256,873
Number of common shares issued, value		$ 135,933	$ 130,836
Subsequent Event [Member] | 15 Unaffiliated Individuals [Member]
Number of commons stock shares issued for services	34,176
Value of shares issued for services	$ 17,121
Subsequent Event [Member] | 15 Unaffiliated Individuals [Member] | Minimum [Member]
Shares issued, price per share	$ .50
Subsequent Event [Member] | 15 Unaffiliated Individuals [Member] | Maximum [Member]
Shares issued, price per share	$ .65
Subsequent Event [Member] | 9 Unaffiliated Individuals [Member]
Number of common shares issued during period, shares	379,975
Number of common shares issued, value	$ 160,872
Subsequent Event [Member] | 9 Unaffiliated Individuals [Member] | Minimum [Member]
Shares issued, price per share	$ .21
Subsequent Event [Member] | 9 Unaffiliated Individuals [Member] | Maximum [Member]
Shares issued, price per share	$ .75