0001477932-22-003139.txt : 20220510 0001477932-22-003139.hdr.sgml : 20220510 20220510133534 ACCESSION NUMBER: 0001477932-22-003139 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 32 CONFORMED PERIOD OF REPORT: 20220331 FILED AS OF DATE: 20220510 DATE AS OF CHANGE: 20220510 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Incordex Corp. CENTRAL INDEX KEY: 0001818550 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PERSONAL SERVICES [7200] IRS NUMBER: 981541457 STATE OF INCORPORATION: NV FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 333-248609 FILM NUMBER: 22908725 BUSINESS ADDRESS: STREET 1: 6 ROSEMARY WAY CITY: NUNEATON STATE: X0 ZIP: CV10 7ST BUSINESS PHONE: 00442039911252 MAIL ADDRESS: STREET 1: 6 ROSEMARY WAY CITY: NUNEATON STATE: X0 ZIP: CV10 7ST 10-Q 1 incordex_10q.htm FORM 10-Q incordex_10q.htm

 

 

 UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 10-Q

 

Mark One

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

 

For the quarterly period ended March 31, 2022

 

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

 

For the transition period from ______ to _______

 

Commission File No. 333-248609

 

Incordex Corp.

(Exact name of registrant as specified in its charter)

 

Nevada

 

7371

 

EIN 98-1541457

(State or other jurisdiction of

incorporation or Organization)

 

(Primary Standard Industrial

Classification Code Number)

 

(IRS Employer

Identification Number)

 

6 Rosemary Way

Nuneaton, United Kingdom CV10 7ST

+44-203-99-11-252

(Address, including zip code, and telephone number,

including area code, of registrant’s principal executive offices)

 

Registered Agents Inc.

401 Ryland St., STE 200-A

Reno, NV 89502

775-401-6800

(Name, address, including zip code, and telephone number,

including area code, of agent for service)

 

Indicate by checkmark whether the issuer: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 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 ☒     No ☐

 

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

 

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

 

Large accelerated filer

Accelerated filer

Non-accelerated Filer

Smaller reporting company

Emerging growth company

 

 

 

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

 

Indicate by checkmark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No ☒

 

Applicable Only to Issuer Involved in Bankruptcy Proceedings During the Preceding Five Years. N/A

 

Indicate by checkmark whether the issuer has filed all documents and reports required to be filed by Section 12, 13 and 15(d) of the Securities Exchange Act of 1934 after the distribution of securities under a plan confirmed by a court. Yes ☐     No ☒

 

Applicable Only to Corporate Registrants Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the most practicable date:

 

Class

Outstanding as of May 10, 2022

Common Stock: $0.001

6,450,000

 

 

 

 

 

 TABLE OF CONTENTS

 

PART 1

FINANCIAL INFORMATION

 

Balance Sheets (Unaudited)

4

Statements of Operations (Unaudited)

5

Statement of stockholder’s equity (deficit)(Unaudited)

6

Statements of Cash Flows(Unaudited)

7

Notes to Financial Statements(Unaudited)

8

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

11

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

13

Item 4.

Controls and Procedures

13

PART II.

OTHER INFORMATION

14

Item 1

Legal Proceedings

14

Item 2.

Unregistered Sales of Equity Securities and Use of 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

Table of Contents

 

INDEX TO FINANCIAL STATEMENTS

 

For three and nine months ended March 31, 2022 and 2021 (Unaudited) 

Balance Sheets – March 31, 2022 and June 30, 2021 (Unaudited)

 

4

 

 

 

 

 

Statements of Operations –Three and Nine months ending March 31, 2022 and 2021 (Unaudited)

 

5

 

 

 

 

 

Statement of Stockholders’ Equity (Deficit) –for the three and nine months ended March 31, 2022 and 2021 (Unaudited)

 

6

 

 

 

 

 

Statement of Cash Flows – Nine months ended March 31, 2022 and 2021 (Unaudited)

 

7

 

 

 

 

 

Notes to Financial Statements (Unaudited)

 

8

 

 

 
3

Table of Contents

 

Incordex Corp. 

Balance sheets 

 

ASSETS 

 

March 31, 

2022 

(Unaudited) 

 

 

June 30,

2021

(Audited)

 

 

 

 

 

 

 

 

Current Asset 

 

 

 

 

 

 

Cash

 

 

20,326

 

 

 

16,244

 

Total Current Assets 

 

$20,326

 

 

 

16,244

 

Fixed assets

 

 

 

 

 

 

 

 

Website purchase

 

 

4,168

 

 

 

-

 

Total Fixed Assets

 

 

4,168

 

 

 

-

 

Total Assets

 

 

24,494

 

 

 

16,244

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY 

 

 

 

 

 

 

 

 

Long term Liabilities 

 

 

 

 

 

 

 

 

Director loan 

 

$7,314

 

 

 

7,314

 

Accounts Payable

 

 

-

 

 

 

2,250

 

Total Liabilities 

 

$7,314

 

 

 

9,564

 

 

 

 

 

 

 

 

 

 

Stockholder’s Equity 

 

 

 

 

 

 

 

 

Common stock, par value $0.001; 75,000,000 shares authorized, 6,450,000 and 5,500,000 shares issued and outstanding respectively:

 

 

6,450

 

 

 

5,500

 

Additional paid in capital

 

 

27,550

 

 

 

9,500

 

Accumulated deficit 

 

 

(16,820)

 

 

(8,320

)

Total Stockholder’s Equity 

 

 

17,180

 

 

 

6,680

 

 

 

 

 

 

 

 

 

 

Total Liabilities and Stockholder’s Equity 

 

$24,494

 

 

 

16,244

 

 

See accompanying notes, which are an integral part of these financial statements 

 

 
4

Table of Contents

  

Incordex Corp. 

Statements of operations 

Three and Nine months ended March 31, 2022 and 2021

 (Unaudited) 

 

 

 

Three months

ended

March 31, 2022

 

 

Three months

ended

March 31, 2021

 

 

Nine months

Ended

March 31, 2022

 

 

Nine months

Ended

March 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

REVENUES (services rendered)

 

$5,000

 

 

$-

 

 

 

5,000

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OPERATING EXPENSES 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

General and Administrative Expenses 

 

 

3,900

 

 

 

1,725

 

 

 

13,500

 

 

 

9,729

 

TOTAL OPERATING EXPENSES 

 

 

(3,900)

 

 

(1,725)

 

 

(13,500)

 

 

(9,729)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NET INCOME (LOSS) FROM OPERATIONS 

 

 

1,100

 

 

 

(1,725)

 

 

(8,500)

 

 

(9,729)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PROVISION FOR INCOME TAXES 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NET PROFIT/LOSS 

 

$1,100

 

 

$(1,725)

 

 

(8,500)

 

 

(9,729)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NET LOSS PER SHARE: BASIC AND DILUTED 

 

$(0.00)

 

$(0.00)

 

 

(0.00)

 

 

(0.00)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED 

 

 

6,450,000

 

 

 

5,000,000

 

 

 

6,345,326

 

 

 

5,000,000

 

 

 

See accompanying notes, which are an integral part of these financial statements 

 

 
5

Table of Contents

 

Incordex Corp 

Statements of Changes in Stockholder’s Equity for the Three and Nine months ended March 31, 2022 and 2021 (Unaudited)

 

 

 

Common Stock 

 

 

Additional Paid-in 

 

 

Retained 

 

 

Total Stockholders’ 

 

 

 

Shares 

 

 

Amount 

 

 

Capital 

 

 

 Deficit 

 

 

Equity 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at March 31, 2021 (Unaudited)

 

 

5,000,000

 

 

$5,000

 

 

 

-

 

 

 

(10,489)

 

 

(5,489)

Shares issued for cash at $0.02 per share in June 30, 2021

 

 

500,000

 

 

 

500

 

 

 

9,500

 

 

 

-

 

 

 

10,000

 

Net loss for the quarter ended June 30, 2021

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(7,560)

 

 

(7,560)

Balance at June 30, 2021 (Audited)

 

 

5,500,000

 

 

$5,500

 

 

 

9,500

 

 

 

(8,320)

 

 

6,680

 

Shares issued for cash at $0.02 per share in September 30, 2021

 

 

950,000

 

 

 

950

 

 

 

18,050

 

 

 

-

 

 

 

19,000

 

Net loss for the quarter ended September 30, 2021

 

 

-

 

 

 

-

 

 

 

-

 

 

 

6,758

 

 

 

6,758

 

Balance at September 30, 2021 (Unaudited)

 

 

6,450,000

 

 

$6,450

 

 

 

27,550

 

 

 

(15,078)

 

 

18,922

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss for three months ended December 31, 2021

 

 

-

 

 

 

-

 

 

 

-

 

 

$(2,842)

 

 

(2,842)

Balance at December 31, 2021 (Unaudited)

 

 

6,450,000

 

 

$6,450

 

 

 

27,550

 

 

$(17,920)

 

$16,080

 

Net loss for three months ended March 31, 2022

 

 

-

 

 

 

-

 

 

 

-

 

 

$1,100

 

 

 

1,100

 

Balance at March 31, 2022 (Unaudited)

 

 

6,450,000

 

 

$6,450

 

 

 

27,550

 

 

$(16,820)

 

$17,180

 

 

See accompanying notes, which are an integral part of these financial statements 

 

 
6

Table of Contents

 

Incordex Corp

 Statements of cash flows 

Nine months ended March 31, 2022 and March 31, 2021 

(Unaudited) 

 

 

 

Nine months 

ended 

March 31, 

2022 

 

 

Nine months

ended

March 31,

2021

 

CASH FLOWS FROM OPERATING ACTIVITIES 

 

 

 

 

 

 

Net loss for the period 

 

$(8,500 )

 

$(9,729)

Adjustments to reconcile net loss to net cash from operating activities: 

 

 

 

 

 

 

 

 

Website purchase

 

 

(4,168)

 

 

-

 

Prepaid Expenses

 

 

 

 

 

 

1,500

 

Accounts Payable 

 

 

(2,250)

 

 

2,000

 

CASH FLOWS USED IN OPERATING ACTIVITIES 

 

 

(14,918 )

 

 

(6,229)

CASH FLOWS FROM FINANCING ACTIVITIES 

 

 

 

 

 

 

 

 

Director loan 

 

 

-

 

 

 

4,229

 

Proceeds from capital stock 

 

 

19,000

 

 

 

-

 

CASH FLOWS PROVIDED BY FINANCING ACTIVITIES 

 

 

19,000

 

 

 

4,229

 

 

 

 

 

 

 

 

 

 

NET CHANGE IN CASH 

 

 

4,082

 

 

 

(2,000)

Cash, beginning of period 

 

 

16,244

 

 

 

3,500

 

Cash, end of period 

 

$20,326

 

 

$1,500

 

 

 

 

 

 

 

 

 

 

SUPPLEMENTAL CASH FLOW INFORMATION: 

 

 

 

 

 

 

 

 

Interest paid 

 

$-

 

 

$-

 

Income taxes paid 

 

$-

 

 

$-

 

 

See accompanying notes, which are an integral part of these financial statements 

 

 
7

Table of Contents

 

Incordex Corp.

Notes to the financial statements 

Three and Nine months ended March 31, 2022 and 2021 

(Unaudited) 

 

Note 1 – ORGANIZATION AND NATURE OF BUSINESS

 

Incordex Corp. (“the Company”, “we”, “us” or “our”) we were incorporated on June 12, 2020 and intend to offer handwritten letter service via our web platform. Incordex Corp. will be an online handwritten letter service that sends handwritten letters and cards. Our customers will be business and private persons. Customers will use our services to send real handwritten letters to prospects and new customers. We expect our main customers will be direct mail marketing companies. Private persons will use our services for their private needs. The letter writers will be freelancers around the world. Our freelancers will be working on independent contract basis. 

 

Our current address is 6 Rosemary Way, Nuneaton, CV107ST United Kingdom. 

 

Note 2 – GOING CONCERN

 

The accompanying financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“GAAP”), which contemplate continuation of the Company as a going concern. The Company has an accumulated deficit of $16,820 as of March 31, 2022. The Company currently has losses and has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time. Therefore, there is substantial doubt about the Company’s ability to continue as a going concern. Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses. The Company intends to position itself so that it will be able to raise additional funds through the capital markets. In light of management’s efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern. 

 

Note 3 – SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES

 

Basis of presentation 

The accompanying unaudited condensed financial statements have been prepared in accordance with the rules and regulations (Regulation S-X) of the Securities and Exchange Commission (the “SEC”) and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The results of operations for the three months ended March 31, 2022 and 2021 are not necessarily indicative of the operating results that may be expected for the year ending June 30, 2021. These unaudited condensed financial statements should be read in conjunction with the June 30, 2021, financial statements and notes thereto.

 

Use of Estimates 

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

 

Fair Value of Financial Instruments 

FASB ASC Topic 820, ”Fair Value Measurement,” defines fair value as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The standards apply to recurring and nonrecurring fair value measurements of financial and non-financial assets and liabilities. The Company determines the fair values of its assets and liabilities based on a fair value hierarchy that includes three levels of inputs that may be used to measure fair value. 

 

 
8

Table of Contents

 

The three levels are defined as follows: 

 

Level 1: 

defined as observable inputs such as quoted prices in active markets; 

Level 2: 

defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and 

Level 3: 

defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. 

 

Income Taxes 

The Company is a C Corporation under the Internal Revenue Code and a similar section of the state code. 

 

All income tax amounts reflect the use of the liability method under accounting for income taxes. Income taxes are provided for the tax effects of transactions reported in the financial statements and consist of taxes currently due plus deferred taxes arising primarily from differences between financial and tax reporting purposes. Current year expense represents the amount of income taxes paid, payable or refundable for the period. 

 

Deferred income taxes, net of appropriate valuation allowances, are determined using the tax rates expected to be in effect when the taxes are actually paid. Valuation allowances are recorded against deferred tax assets when it is more likely than not that such assets will not be realized. When an uncertain tax position meets the more likely than not recognition threshold, the position is measured to determine the amount of benefit or expense to recognize in the financial statements. 

 

The Company’s income tax returns are subject to review and examination by federal, state and local governmental authorities. As of March 31, 2022, there is no year open to examination with federal, state and local governmental authorities. To the extent penalties and interest are incurred through an examination, they would be included in the income tax section of the statement of operations and comprehensive loss. 

 

Basic Income (Loss) Per Share 

The Company computes income (loss) per share in accordance with FASB ASC 260 “Earnings per Share”. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. As of March 31, 2022 there were no potentially dilutive debt or equity instruments issued or outstanding.

 

Comprehensive Income 

Comprehensive income is defined as all changes in stockholders’ equity, exclusive of transactions with owners, such as capital investments. Comprehensive income includes net income or loss, changes in certain assets and liabilities that are reported directly in equity such as translation adjustments on investments in foreign subsidiaries and unrealized gains (losses) on available-for-sale securities. As of March 31, 2022 were no differences between our comprehensive loss and net loss. 

 

Recent Accounting Pronouncements

We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company. 

 

 
9

Table of Contents

 

Note 4 – INTANGIBLE ASSETS

 

The Company purchased and possesses an asset in a form of an operative website. The Company purchased the website for $5,000 and is amortizing the asset straight-line over its three year useful life or $1,664 per year. For the three months ended March 31, 2022 our amortization expense was $416. For the nine months ended March 31, 2022 our amortization was $832.

 

Note 5 – COMMON STOCK

 

The Company has 75,000,000, $0.0001 par value shares of common stock authorized. 

 

In June 2021 the Company issued 500,000 shares of common stock at $0.02 for total of $10,000.

 

There were 5,500,000 shares of common stock issued and outstanding as of June 30, 2021. 

 

In July, and August 2021 the Company issued 950,000 common shares at $0.02 for total of $19,000.

 

There were 6,450,000 shares of common stock issued and outstanding as of March 31, 2022. 

 

Voting Common Stock 

All shares of common stock have voting rights and are identical. All holders of shares of voting common stock shall at every meeting of the stockholders be entitled to one vote for each share of the capital stock held by such stockholder

 

Non-voting Common Stock 

All of the other terms of the Non-Voting Common Stock shall be identical to the Voting Common Stock, except for the right of first refusal that attaches to the Non-Voting Common Stock, as explained in the Company’s Bylaws. 

 

Note 6 – COMMITMENTS AND CONTINGENCIES

 

In the normal course of business, the Company may become a party to litigation matters involving claims against it. At March 31, 2022, there are no current matters that would have a material effect on the Company’s financial position or results of operations. 

 

The extent of the impact of the coronavirus (“COVID-19”) outbreak on the financial performance of the Company will depend on future developments, including the duration and spread of the outbreak and related advisories and restrictions and the impact of COVID-19 on the overall economy, all of which are highly uncertain and cannot be predicted. If the overall economy is impacted for an extended period, the Company’s future operating results may be materially adversely affected.

 

Note 7 – SUBSEQUENT EVENTS

 

In accordance with FASB ASC Topic 855 “Subsequent Events”, the Company has analyzed its operations through May 10, 2022 and the date these financial statements were available to be issued, and there were no events to report. 

 

 
10

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FORWARD LOOKING STATEMENTS

 

Statements made in this Form 10-Q that are not historical or current facts are “forward-looking statements” made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 (the “Act”) and Section 21E of the Securities Exchange Act of 1934. These statements often can be identified by the use of terms such as “may,” “will,” “expect,” “believe,” “anticipate,” “estimate,” “approximate” or “continue,” or the negative thereof. We intend that such forward-looking statements be subject to the safe harbors for such statements. We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management’s best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events.

 

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

 

EMPLOYEES AND EMPLOYMENT AGREEMENTS

 

At present, we have no employees other than our officer and director. We presently do not have pension, health, annuity, insurance, stock options, profit sharing or similar benefit plans; however, we may adopt such plans in the future. There are presently no personal benefits available to any officers, directors or employees.

 

Results of Operation

 

Our financial statements have been prepared assuming that we will continue as a going concern and, accordingly, do not include adjustments relating to the recoverability and realization of assets and classification of liabilities that might be necessary should we be unable to continue in operation.

 

We expect we will require additional capital to meet our long term operating requirements. We expect to raise additional capital through, among other things, the sale of equity or debt securities.

 

Three and Nine Months Periods Ended March 31, 2022 and 2021:

 

Liquidity and Capital Resources

 

ASSETS 

 

March 31, 

2022 

(Unaudited) 

 

 

June 30,

2021

(Audited)

 

 

 

 

 

 

 

 

Current Asset 

 

 

 

 

 

 

Cash

 

 

20,326

 

 

 

16,244

 

Total Current Assets 

 

$20,326

 

 

 

16,244

 

Fixed assets

 

 

 

 

 

 

 

 

Website purchase

 

 

4,168

 

 

 

-

 

Total Fixed Assets

 

 

4,168

 

 

 

-

 

Total Assets

 

 

24,494

 

 

 

16,244

 

 

 
11

Table of Contents

 

Cash Flows from Operating Activities for nine months ending March 31, 2022 and 2021

 

We have not generated positive cash flows from operating activities. For the nine months period ended March 31, 2022, net cash flows provided by operating activities was $14,819. For the nine months period ended March 31, 2021, net cash flows provided by operating activities was $6,229.

 

Cash Flows from Investing Activities

 

We have not generated cash flows from investing activities for the periods nine months ended March 31, 2022 and 2021.

 

Cash Flows from Financing Activities

 

We have generated positive cash flows from financing activities. For the nine months period ended March 31, 2022, net cash flows provided by financing activities was $19,000 from issuance of common stock. For the nine months period ended March 31, 2021, net cash flows provided by financing activities was $4,229.

 

Plan of Operation and Funding

 

We expect that working capital requirements will continue to be funded through a combination of our existing funds and further issuances of securities. Our working capital requirements are expected to increase in line with the growth of our business.

 

Existing working capital, further advances and debt instruments, and anticipated cash flow are expected to be adequate to fund our operations over the next three months. We have no lines of credit or other bank financing arrangements. Generally, we have financed operations to date through the proceeds of the private placement of equity and debt instruments. In connection with our business plan, management anticipates additional increases in operating expenses and capital expenditures relating to: (i) acquisition of inventory; (ii) developmental expenses associated with a start-up business; and (iii) marketing expenses. We intend to finance these expenses with further issuances of securities, and debt issuances. Thereafter, we expect we will need to raise additional capital and generate revenues to meet long-term operating requirements. Additional issuances of equity or convertible debt securities will result in dilution to our current shareholders. Further, such securities might have rights, preferences or privileges senior to our common stock. Additional financing may not be available upon acceptable terms, or at all. If adequate funds are not available or are not available on acceptable terms, we may not be able to take advantage of prospective new business endeavors or opportunities, which could significantly and materially restrict our business operations. We will have to raise additional funds in the next twelve months in order to sustain and expand our operations. We currently do not have a specific plan of how we will obtain such funding; however, we anticipate that additional funding will be in the form of equity financing from the sale of our common stock. We have and will continue to seek to obtain short-term loans from our directors, although no future arrangement for additional loans has been made. We do not have any agreements with our directors concerning these loans. We do not have any arrangements in place for any future equity financing.

 

 
12

Table of Contents

 

Off-Balance Sheet Arrangements

 

As of the date of this Quarterly Report, we do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.

 

Going Concern

 

The financial statements have been prepared “assuming that we will continue as a going concern,” which contemplates that we will realize our assets and satisfy our liabilities and commitments in the ordinary course of business.

 

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

 

In December 2019, a novel strain of coronavirus (COVID-19) emerged in Wuhan, Hubei Province, China. While initially the outbreak was largely concentrated in China and caused significant disruptions to its economy, it has now spread to several other countries and infections have been reported globally.

 

The ultimate impact of the COVID-19 pandemic on the Company’s operations is unknown and will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the duration of the COVID-19 outbreak, new information which may emerge concerning the severity of the COVID-19 pandemic, and any additional preventative and protective actions that governments, or the Company, may direct, which may result in an extended period of continued business disruption, reduced customer traffic and reduced operations. Any resulting financial impact cannot be reasonably estimated at this time but is anticipated to have a material adverse impact on our business, financial condition and results of operations.

 

The measures taken to date will impact the Company’s business for the fiscal fourth quarter and potentially beyond. Management expects that all of its business segments, across all of its geographies, will be impacted to some degree, but the significance of the impact of the COVID-19 outbreak on the Company’s business and the duration for which it may have an impact cannot be determined at this time.

 

ITEM 4. CONTROLS AND PROCEDURES

 

Our management is responsible for establishing and maintaining a system of disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act) that is designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer’s management, including its principal executive officer or officers and principal financial officer or officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

 

An evaluation was conducted under the supervision and with the participation of our management of the effectiveness of the design and operation of our disclosure controls and procedures as of March 31, 2022. Based on that evaluation, our management concluded that our disclosure controls and procedures were not effective as of such date to ensure that information required to be disclosed in the reports that we file or submit under the Exchange Act, is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms. Such officer also confirmed that there was no change in our internal control over financial reporting during the three-month period ended March 31, 2022 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

 

 
13

Table of Contents

 

PART II. OTHER INFORMATION

 

ITEM 1. LEGAL PROCEEDINGS

 

Management is not aware of any legal proceedings contemplated by any governmental authority or any other party involving us or our properties. As of the date of this Quarterly Report, no director, officer or affiliate is (i) a party adverse to us in any legal proceeding, or (ii) has an adverse interest to us in any legal proceedings. Management is not aware of any other legal proceedings pending or that have been threatened against us or our properties.

 

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

 

No report required.

 

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

 

No report required.

 

ITEM 4. MINE SAFETY DISCLOSURES

 

Not applicable.

 

ITEM 5. OTHER INFORMATION

 

No report required.

 

ITEM 6. EXHIBITS

 

31.1

 

Certification of Chief Executive Officer pursuant to Securities Exchange Act of 1934 Rule 13a-14(a) or 15d-14(a).

32.1

 

Certifications pursuant to Securities Exchange Act of 1934 Rule 13a-14(b) or 15d-14(b) and 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes- Oxley Act of 2002.

 

 

 

101.INS

 

Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document).

 

 

 

101.SCH

 

Inline XBRL Taxonomy Extension Schema Document.

 

 

 

101.CAL

 

Inline XBRL Taxonomy Extension Calculation Linkbase Document.

 

 

 

101.DEF

 

Inline XBRL Taxonomy Extension Definition Linkbase Document.

 

 

 

101.LAB

 

Inline XBRL Taxonomy Extension Labels Linkbase Document.

 

 

 

101.PRE

 

Inline XBRL Taxonomy Extension Presentation Linkbase Document.

 

 

 

104

 

Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).

 

 
14

Table of Contents

 

SIGNATURES

 

Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements of filing on 10-Q and authorized this registration statement to be signed on its behalf by the undersigned, in 6 Rosemary Way, Nuneaton, CV107ST United Kingdom on May 10, 2022. 

 

 

INCORDEX CORP.

 

 

 

 

By:

/s/ Iurii Abramovici

 

Name:

Iurii Abramovici

 

 

Title:

President

 

 

In accordance with the requirements of the Securities Act of 1933, this registration statement was signed by the following persons in the capacities and on the dates stated.

 

Signature

 

Title

 

Date

 

 

 

 

 

/s/ Iurii Abramovici

 

 

 

May 10, 2022 

Iurii Abramovici

 

President, Treasurer, Secretary and Director 

 

 

 

(Principal Executive, Financial and Accounting Officer) 

 

 
15

 

EX-31.1 2 incordex_ex311.htm CERTIFICATION incordex_ex311.htm

 

EXHIBIT 31.1

 

Certification of Chief Executive Officer pursuant to Securities Exchange Act of 1934 Rule 13a-14(a) or 15d-14(a).

 

I, Iurii Abramovici, certify that:

 

1.

I have reviewed this Quarterly Report on Form 10-Q of INCORDEX CORP.;

 

 

2.

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

 

 

3.

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

 

 

4.

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

 

 

a)

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

 

 

 

 

b)

designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

 

 

 

c)

evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

 

 

 

d)

disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5.

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

 

 

a)

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

 

 

 

 

b)

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

 

May 10, 2022

By:

/s/ Iurii Abramovici

 

 

Name: Iurii Abramovici

 

 

 

Title: President, Director and Treasurer

 

 

 

(Principal Executive, Financial and Accounting Officer)

 

EX-32.1 3 incordex_ex321.htm CERTIFICATION incordex_ex312.htm

 

EXHIBIT 32.1

 

Certifications pursuant to Securities Exchange Act of 1934 Rule 13a-14(b) or 15d-14(b) and 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes- Oxley Act of 2002.

 

In connection with the Quarterly Report of INCORDEX CORP. (the “Company”) on Form 10-Q for the quarter ended March 31, 2022, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Iurii Abramovici, Principal Executive, Financial and Accounting Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:

 

 

(1)

The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

 

(2)

The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.

 

INCORDEX CORP.

 

 

May 10, 2022

By:

/s/ Iurii Abramovici

 

 

 

Name: Iurii Abramovici

 

 

 

Title: President, Director and Treasurer

 

 

 

(Principal Executive, Financial and Accounting Officer)

 

 

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ORGANIZATION AND NATURE OF BUSINESS
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ORGANIZATION AND NATURE OF BUSINESS  
Organization And Nature Of Business

Note 1 – ORGANIZATION AND NATURE OF BUSINESS

 

Incordex Corp. (“the Company”, “we”, “us” or “our”) we were incorporated on June 12, 2020 and intend to offer handwritten letter service via our web platform. Incordex Corp. will be an online handwritten letter service that sends handwritten letters and cards. Our customers will be business and private persons. Customers will use our services to send real handwritten letters to prospects and new customers. We expect our main customers will be direct mail marketing companies. Private persons will use our services for their private needs. The letter writers will be freelancers around the world. Our freelancers will be working on independent contract basis. 

 

Our current address is 6 Rosemary Way, Nuneaton, CV107ST United Kingdom. 

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GOING CONCERN
9 Months Ended
Mar. 31, 2022
GOING CONCERN  
Going Concern

Note 2 – GOING CONCERN

 

The accompanying financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“GAAP”), which contemplate continuation of the Company as a going concern. The Company has an accumulated deficit of $16,820 as of March 31, 2022. The Company currently has losses and has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time. Therefore, there is substantial doubt about the Company’s ability to continue as a going concern. Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses. The Company intends to position itself so that it will be able to raise additional funds through the capital markets. In light of management’s efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern. 

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SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES
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SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES  
Summary Of Signifcant Accounting Policies

Note 3 – SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES

 

Basis of presentation 

The accompanying unaudited condensed financial statements have been prepared in accordance with the rules and regulations (Regulation S-X) of the Securities and Exchange Commission (the “SEC”) and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The results of operations for the three months ended March 31, 2022 and 2021 are not necessarily indicative of the operating results that may be expected for the year ending June 30, 2021. These unaudited condensed financial statements should be read in conjunction with the June 30, 2021, financial statements and notes thereto.

 

Use of Estimates 

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

 

Fair Value of Financial Instruments 

FASB ASC Topic 820, ”Fair Value Measurement,” defines fair value as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The standards apply to recurring and nonrecurring fair value measurements of financial and non-financial assets and liabilities. The Company determines the fair values of its assets and liabilities based on a fair value hierarchy that includes three levels of inputs that may be used to measure fair value. 

The three levels are defined as follows: 

 

Level 1: 

defined as observable inputs such as quoted prices in active markets; 

Level 2: 

defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and 

Level 3: 

defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. 

 

Income Taxes 

The Company is a C Corporation under the Internal Revenue Code and a similar section of the state code. 

 

All income tax amounts reflect the use of the liability method under accounting for income taxes. Income taxes are provided for the tax effects of transactions reported in the financial statements and consist of taxes currently due plus deferred taxes arising primarily from differences between financial and tax reporting purposes. Current year expense represents the amount of income taxes paid, payable or refundable for the period. 

 

Deferred income taxes, net of appropriate valuation allowances, are determined using the tax rates expected to be in effect when the taxes are actually paid. Valuation allowances are recorded against deferred tax assets when it is more likely than not that such assets will not be realized. When an uncertain tax position meets the more likely than not recognition threshold, the position is measured to determine the amount of benefit or expense to recognize in the financial statements. 

 

The Company’s income tax returns are subject to review and examination by federal, state and local governmental authorities. As of March 31, 2022, there is no year open to examination with federal, state and local governmental authorities. To the extent penalties and interest are incurred through an examination, they would be included in the income tax section of the statement of operations and comprehensive loss. 

 

Basic Income (Loss) Per Share 

The Company computes income (loss) per share in accordance with FASB ASC 260 “Earnings per Share”. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. As of March 31, 2022 there were no potentially dilutive debt or equity instruments issued or outstanding.

 

Comprehensive Income 

Comprehensive income is defined as all changes in stockholders’ equity, exclusive of transactions with owners, such as capital investments. Comprehensive income includes net income or loss, changes in certain assets and liabilities that are reported directly in equity such as translation adjustments on investments in foreign subsidiaries and unrealized gains (losses) on available-for-sale securities. As of March 31, 2022 were no differences between our comprehensive loss and net loss. 

 

Recent Accounting Pronouncements

We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company. 

XML 18 R10.htm IDEA: XBRL DOCUMENT v3.22.1
INTANGIBLE ASSETS
9 Months Ended
Mar. 31, 2022
INTANGIBLE ASSETS  
Intangible Assets

Note 4 – INTANGIBLE ASSETS

 

The Company purchased and possesses an asset in a form of an operative website. The Company purchased the website for $5,000 and is amortizing the asset straight-line over its three year useful life or $1,664 per year. For the three months ended March 31, 2022 our amortization expense was $416. For the nine months ended March 31, 2022 our amortization was $832.

XML 19 R11.htm IDEA: XBRL DOCUMENT v3.22.1
COMMON STOCK
9 Months Ended
Mar. 31, 2022
INTANGIBLE ASSETS  
Common Stock

Note 5 – COMMON STOCK

 

The Company has 75,000,000, $0.0001 par value shares of common stock authorized. 

 

In June 2021 the Company issued 500,000 shares of common stock at $0.02 for total of $10,000.

 

There were 5,500,000 shares of common stock issued and outstanding as of June 30, 2021. 

 

In July, and August 2021 the Company issued 950,000 common shares at $0.02 for total of $19,000.

 

There were 6,450,000 shares of common stock issued and outstanding as of March 31, 2022. 

 

Voting Common Stock 

All shares of common stock have voting rights and are identical. All holders of shares of voting common stock shall at every meeting of the stockholders be entitled to one vote for each share of the capital stock held by such stockholder. 

 

Non-voting Common Stock 

All of the other terms of the Non-Voting Common Stock shall be identical to the Voting Common Stock, except for the right of first refusal that attaches to the Non-Voting Common Stock, as explained in the Company’s Bylaws. 

XML 20 R12.htm IDEA: XBRL DOCUMENT v3.22.1
COMMITMENTS AND CONTINGENCIES
9 Months Ended
Mar. 31, 2022
COMMITMENTS AND CONTINGENCIES  
Commitments And Contingencies

Note 6 – COMMITMENTS AND CONTINGENCIES

 

In the normal course of business, the Company may become a party to litigation matters involving claims against it. At March 31, 2022, there are no current matters that would have a material effect on the Company’s financial position or results of operations. 

 

The extent of the impact of the coronavirus (“COVID-19”) outbreak on the financial performance of the Company will depend on future developments, including the duration and spread of the outbreak and related advisories and restrictions and the impact of COVID-19 on the overall economy, all of which are highly uncertain and cannot be predicted. If the overall economy is impacted for an extended period, the Company’s future operating results may be materially adversely affected.

XML 21 R13.htm IDEA: XBRL DOCUMENT v3.22.1
SUBSEQUENT EVENTS
9 Months Ended
Mar. 31, 2022
SUBSEQUENT EVENTS  
Subsequent Events

Note 7 – SUBSEQUENT EVENTS

 

In accordance with FASB ASC Topic 855 “Subsequent Events”, the Company has analyzed its operations through May 10, 2022 and the date these financial statements were available to be issued, and there were no events to report. 

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SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (Policies)
9 Months Ended
Mar. 31, 2022
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES  
Basis Of Presentation

The accompanying unaudited condensed financial statements have been prepared in accordance with the rules and regulations (Regulation S-X) of the Securities and Exchange Commission (the “SEC”) and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The results of operations for the three months ended March 31, 2022 and 2021 are not necessarily indicative of the operating results that may be expected for the year ending June 30, 2021. These unaudited condensed financial statements should be read in conjunction with the June 30, 2021, financial statements and notes thereto.

Use Of Estimates

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

Fair Value Of Financial Instruments

FASB ASC Topic 820, ”Fair Value Measurement,” defines fair value as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The standards apply to recurring and nonrecurring fair value measurements of financial and non-financial assets and liabilities. The Company determines the fair values of its assets and liabilities based on a fair value hierarchy that includes three levels of inputs that may be used to measure fair value. 

The three levels are defined as follows: 

 

Level 1: 

defined as observable inputs such as quoted prices in active markets; 

Level 2: 

defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and 

Level 3: 

defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. 

Income Tax

The Company is a C Corporation under the Internal Revenue Code and a similar section of the state code. 

 

All income tax amounts reflect the use of the liability method under accounting for income taxes. Income taxes are provided for the tax effects of transactions reported in the financial statements and consist of taxes currently due plus deferred taxes arising primarily from differences between financial and tax reporting purposes. Current year expense represents the amount of income taxes paid, payable or refundable for the period. 

 

Deferred income taxes, net of appropriate valuation allowances, are determined using the tax rates expected to be in effect when the taxes are actually paid. Valuation allowances are recorded against deferred tax assets when it is more likely than not that such assets will not be realized. When an uncertain tax position meets the more likely than not recognition threshold, the position is measured to determine the amount of benefit or expense to recognize in the financial statements. 

 

The Company’s income tax returns are subject to review and examination by federal, state and local governmental authorities. As of March 31, 2022, there is no year open to examination with federal, state and local governmental authorities. To the extent penalties and interest are incurred through an examination, they would be included in the income tax section of the statement of operations and comprehensive loss. 

Basic Income (loss) Per Share

The Company computes income (loss) per share in accordance with FASB ASC 260 “Earnings per Share”. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. As of March 31, 2022 there were no potentially dilutive debt or equity instruments issued or outstanding.

Comprehensive Income

Comprehensive income is defined as all changes in stockholders’ equity, exclusive of transactions with owners, such as capital investments. Comprehensive income includes net income or loss, changes in certain assets and liabilities that are reported directly in equity such as translation adjustments on investments in foreign subsidiaries and unrealized gains (losses) on available-for-sale securities. As of March 31, 2022 were no differences between our comprehensive loss and net loss. 

Recent Accounting Pronouncements

We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company. 

XML 23 R15.htm IDEA: XBRL DOCUMENT v3.22.1
GOING CONCERN (Details Narrative) - USD ($)
Mar. 31, 2022
Jun. 30, 2021
GOING CONCERN    
Accumulated Deficit $ (16,820) $ (8,320)
XML 24 R16.htm IDEA: XBRL DOCUMENT v3.22.1
INTANGIBLE ASSETS (Details Narrative)
3 Months Ended 9 Months Ended
Mar. 31, 2022
USD ($)
Mar. 31, 2022
USD ($)
INTANGIBLE ASSETS    
Website Purchase $ 5,000 $ 5,000
Amortization Expense $ 416 $ 832
Intangible Asset Description   over its three year useful life or $1,664 per year
XML 25 R17.htm IDEA: XBRL DOCUMENT v3.22.1
COMMON STOCK (Details Narrative) - USD ($)
9 Months Ended 24 Months Ended
Mar. 31, 2022
Jun. 30, 2021
Common Stock Value Issued During Period, New Issue   $ 10,000
Common Stock Issued During Period, New Issue   500,000
Common Stock, Par Value $ 0.001 $ 0.001
Common Stock, Shares Authorized 75,000,000 75,000,000
Common Stock, Shares Issued 6,450,000 5,500,000
Common Stock, Shares Outstanding 6,450,000 5,500,000
Description Of Common Stock Voting Rights All holders of shares of voting common stock shall at every meeting of the stockholders be entitled to one vote for each share of the capital stock held by such stockholder  
Common Stock Price Per Share   $ 0.02
July, and August 2021 [Member]    
Common Stock Value Issued During Period, New Issue $ 19,000  
Common Stock Issued During Period, New Issue 950,000  
Common Stock Price Per Share $ 0.02  
XML 26 incordex_10q_htm.xml IDEA: XBRL DOCUMENT 0001818550 2021-07-01 2022-03-31 0001818550 incordex:JulyAndAugustTwoThousandTwentyOneMember 2022-03-31 0001818550 incordex:JulyAndAugustTwoThousandTwentyOneMember 2021-07-01 2022-03-31 0001818550 2019-07-01 2021-06-30 0001818550 2020-06-30 0001818550 us-gaap:RetainedEarningsMember 2022-03-31 0001818550 us-gaap:AdditionalPaidInCapitalMember 2022-03-31 0001818550 us-gaap:CommonStockMember 2022-03-31 0001818550 us-gaap:RetainedEarningsMember 2022-01-01 2022-03-31 0001818550 us-gaap:AdditionalPaidInCapitalMember 2022-01-01 2022-03-31 0001818550 us-gaap:CommonStockMember 2022-01-01 2022-03-31 0001818550 2021-12-31 0001818550 us-gaap:RetainedEarningsMember 2021-12-31 0001818550 us-gaap:AdditionalPaidInCapitalMember 2021-12-31 0001818550 us-gaap:CommonStockMember 2021-12-31 0001818550 2021-10-01 2021-12-31 0001818550 us-gaap:RetainedEarningsMember 2021-10-01 2021-12-31 0001818550 us-gaap:AdditionalPaidInCapitalMember 2021-10-01 2021-12-31 0001818550 us-gaap:CommonStockMember 2021-10-01 2021-12-31 0001818550 2021-09-30 0001818550 us-gaap:RetainedEarningsMember 2021-09-30 0001818550 us-gaap:AdditionalPaidInCapitalMember 2021-09-30 0001818550 us-gaap:CommonStockMember 2021-09-30 0001818550 2021-07-01 2021-09-30 0001818550 us-gaap:RetainedEarningsMember 2021-07-01 2021-09-30 0001818550 us-gaap:AdditionalPaidInCapitalMember 2021-07-01 2021-09-30 0001818550 us-gaap:CommonStockMember 2021-07-01 2021-09-30 0001818550 us-gaap:RetainedEarningsMember 2021-06-30 0001818550 us-gaap:AdditionalPaidInCapitalMember 2021-06-30 0001818550 us-gaap:CommonStockMember 2021-06-30 0001818550 2021-04-01 2021-06-30 0001818550 us-gaap:RetainedEarningsMember 2021-04-01 2021-06-30 0001818550 us-gaap:AdditionalPaidInCapitalMember 2021-04-01 2021-06-30 0001818550 us-gaap:CommonStockMember 2021-04-01 2021-06-30 0001818550 2021-03-31 0001818550 us-gaap:RetainedEarningsMember 2021-03-31 0001818550 us-gaap:AdditionalPaidInCapitalMember 2021-03-31 0001818550 us-gaap:CommonStockMember 2021-03-31 0001818550 2020-07-01 2021-03-31 0001818550 2021-01-01 2021-03-31 0001818550 2022-01-01 2022-03-31 0001818550 2021-06-30 0001818550 2022-03-31 0001818550 2022-05-10 iso4217:USD shares iso4217:USD shares 0001818550 false --06-30 Q3 2022 0.001 75000000 10-Q true 2022-03-31 false 333-248609 Incordex Corp. NV 98-1541457 6 Rosemary Way Nuneaton GB CV10 7ST 44 203 99-11-252 Yes Yes Non-accelerated Filer true true true false Common Stock: $0.001 6450000 20326 16244 20326 16244 4168 0 4168 0 24494 16244 7314 7314 0 2250 7314 9564 0.001 75000000 6450000 5500000 6450 5500 27550 9500 -16820 -8320 17180 6680 24494 16244 5000 0 5000 0 3900 1725 13500 9729 3900 1725 13500 9729 1100 -1725 -8500 -9729 0 0 0 0 1100 -1725 -8500 -9729 -0.00 -0.00 -0.00 -0.00 6450000 5000000 6345326 5000000 5000000 5000 0 -10489 -5489 500000 500 9500 0 10000 0 0 -7560 -7560 5500000 5500 9500 -8320 6680 950000 950 18050 0 19000 0 0 6758 6758 6450000 6450 27550 -15078 18922 0 0 -2842 -2842 6450000 6450 27550 -17920 16080 0 0 1100 1100 6450000 6450 27550 -16820 17180 -8500 -9729 4168 0 1500 2250 -2000 -14918 -6229 0 4229 19000 0 19000 4229 4082 -2000 16244 3500 20326 1500 0 0 0 0 <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>Note 1 – <em>ORGANIZATION AND NATURE OF BUSINESS</em></strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Incordex Corp. (“the Company”, “we”, “us” or “our”) we were incorporated on June 12, 2020 and intend to offer handwritten letter service via our web platform. Incordex Corp. will be an online handwritten letter service that sends handwritten letters and cards. Our customers will be business and private persons. Customers will use our services to send real handwritten letters to prospects and new customers. We expect our main customers will be direct mail marketing companies. Private persons will use our services for their private needs. The letter writers will be freelancers around the world. Our freelancers will be working on independent contract basis. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Our current address is 6 Rosemary Way, Nuneaton, CV107ST United Kingdom. </p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>Note 2 – <em>GOING CONCERN</em></strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The accompanying financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“GAAP”), which contemplate continuation of the Company as a going concern. The Company has an accumulated deficit of $16,820 as of March 31, 2022. The Company currently has losses and has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time. Therefore, there is substantial doubt about the Company’s ability to continue as a going concern. Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses. The Company intends to position itself so that it will be able to raise additional funds through the capital markets. In light of management’s efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern. </p> -16820 <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>Note 3 – <em>SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES</em></strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong><em>Basis of presentation </em></strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The accompanying unaudited condensed financial statements have been prepared in accordance with the rules and regulations (Regulation S-X) of the Securities and Exchange Commission (the “SEC”) and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The results of operations for the three months ended March 31, 2022 and 2021 are not necessarily indicative of the operating results that may be expected for the year ending June 30, 2021. These unaudited condensed financial statements should be read in conjunction with the June 30, 2021, financial statements and notes thereto.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong><em>Use of Estimates </em></strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong><em>Fair Value of Financial Instruments </em></strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">FASB ASC Topic 820, <em>”Fair Value Measurement,”</em> defines fair value as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The standards apply to recurring and nonrecurring fair value measurements of financial and non-financial assets and liabilities. The Company determines the fair values of its assets and liabilities based on a fair value hierarchy that includes three levels of inputs that may be used to measure fair value. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The three levels are defined as follows: </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><table cellpadding="0" style="border-spacing:0;font-size:10pt;width:100%"><tbody><tr style="height:15px"><td style="width:10%;vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Level 1: </p></td><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">defined as observable inputs such as quoted prices in active markets; </p></td></tr><tr style="height:15px"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Level 2: </p></td><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and </p></td></tr><tr style="height:15px"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Level 3: </p></td><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. </p></td></tr></tbody></table><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong><em>Income Taxes </em></strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company is a C Corporation under the Internal Revenue Code and a similar section of the state code. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">All income tax amounts reflect the use of the liability method under accounting for income taxes. Income taxes are provided for the tax effects of transactions reported in the financial statements and consist of taxes currently due plus deferred taxes arising primarily from differences between financial and tax reporting purposes. Current year expense represents the amount of income taxes paid, payable or refundable for the period. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Deferred income taxes, net of appropriate valuation allowances, are determined using the tax rates expected to be in effect when the taxes are actually paid. Valuation allowances are recorded against deferred tax assets when it is more likely than not that such assets will not be realized. When an uncertain tax position meets the more likely than not recognition threshold, the position is measured to determine the amount of benefit or expense to recognize in the financial statements. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company’s income tax returns are subject to review and examination by federal, state and local governmental authorities. As of March 31, 2022, there is no year open to examination with federal, state and local governmental authorities. To the extent penalties and interest are incurred through an examination, they would be included in the income tax section of the statement of operations and comprehensive loss. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong><em>Basic Income (Loss) Per Share </em></strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company computes income (loss) per share in accordance with FASB ASC 260 “Earnings per Share”. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. As of March 31, 2022 there were no potentially dilutive debt or equity instruments issued or outstanding. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong><em>Comprehensive Income </em></strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Comprehensive income is defined as all changes in stockholders’ equity, exclusive of transactions with owners, such as capital investments. Comprehensive income includes net income or loss, changes in certain assets and liabilities that are reported directly in equity such as translation adjustments on investments in foreign subsidiaries and unrealized gains (losses) on available-for-sale securities. As of March 31, 2022 were no differences between our comprehensive loss and net loss. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong><em>Recent Accounting Pronouncements</em></strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company. </p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The accompanying unaudited condensed financial statements have been prepared in accordance with the rules and regulations (Regulation S-X) of the Securities and Exchange Commission (the “SEC”) and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The results of operations for the three months ended March 31, 2022 and 2021 are not necessarily indicative of the operating results that may be expected for the year ending June 30, 2021. These unaudited condensed financial statements should be read in conjunction with the June 30, 2021, financial statements and notes thereto.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. </p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">FASB ASC Topic 820, <em>”Fair Value Measurement,”</em> defines fair value as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The standards apply to recurring and nonrecurring fair value measurements of financial and non-financial assets and liabilities. The Company determines the fair values of its assets and liabilities based on a fair value hierarchy that includes three levels of inputs that may be used to measure fair value. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The three levels are defined as follows: </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><table cellpadding="0" style="border-spacing:0;font-size:10pt;width:100%"><tbody><tr style="height:15px"><td style="width:10%;vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Level 1: </p></td><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">defined as observable inputs such as quoted prices in active markets; </p></td></tr><tr style="height:15px"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Level 2: </p></td><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and </p></td></tr><tr style="height:15px"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Level 3: </p></td><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. </p></td></tr></tbody></table> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company is a C Corporation under the Internal Revenue Code and a similar section of the state code. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">All income tax amounts reflect the use of the liability method under accounting for income taxes. Income taxes are provided for the tax effects of transactions reported in the financial statements and consist of taxes currently due plus deferred taxes arising primarily from differences between financial and tax reporting purposes. Current year expense represents the amount of income taxes paid, payable or refundable for the period. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Deferred income taxes, net of appropriate valuation allowances, are determined using the tax rates expected to be in effect when the taxes are actually paid. Valuation allowances are recorded against deferred tax assets when it is more likely than not that such assets will not be realized. When an uncertain tax position meets the more likely than not recognition threshold, the position is measured to determine the amount of benefit or expense to recognize in the financial statements. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company’s income tax returns are subject to review and examination by federal, state and local governmental authorities. As of March 31, 2022, there is no year open to examination with federal, state and local governmental authorities. To the extent penalties and interest are incurred through an examination, they would be included in the income tax section of the statement of operations and comprehensive loss. </p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company computes income (loss) per share in accordance with FASB ASC 260 “Earnings per Share”. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. As of March 31, 2022 there were no potentially dilutive debt or equity instruments issued or outstanding. </p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Comprehensive income is defined as all changes in stockholders’ equity, exclusive of transactions with owners, such as capital investments. Comprehensive income includes net income or loss, changes in certain assets and liabilities that are reported directly in equity such as translation adjustments on investments in foreign subsidiaries and unrealized gains (losses) on available-for-sale securities. As of March 31, 2022 were no differences between our comprehensive loss and net loss. </p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company. </p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>Note 4 – <em>INTANGIBLE ASSETS </em></strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company purchased and possesses an asset in a form of an operative website. The Company purchased the website for $5,000 and is amortizing the asset straight-line over its three year useful life or $1,664 per year. For the three months ended March 31, 2022 our amortization expense was $416. For the nine months ended March 31, 2022 our amortization was $832.</p> 5000 over its three year useful life or $1,664 per year 416 832 <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>Note 5 – <em>COMMON STOCK</em></strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company has 75,000,000, $0.0001 par value shares of common stock authorized. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">In June 2021 the Company issued 500,000 shares of common stock at $0.02 for total of $10,000.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">There were 5,500,000 shares of common stock issued and outstanding as of June 30, 2021. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">In July, and August 2021 the Company issued 950,000 common shares at $0.02 for total of $19,000.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">There were 6,450,000 shares of common stock issued and outstanding as of March 31, 2022. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><em>Voting Common Stock </em></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">All shares of common stock have voting rights and are identical. All holders of shares of voting common stock shall at every meeting of the stockholders be entitled to one vote for each share of the capital stock held by such stockholder. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><em>Non-voting Common Stock </em></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">All of the other terms of the Non-Voting Common Stock shall be identical to the Voting Common Stock, except for the right of first refusal that attaches to the Non-Voting Common Stock, as explained in the Company’s Bylaws. </p> 75000000 500000 0.02 10000 5500000 950000 0.02 19000 6450000 All holders of shares of voting common stock shall at every meeting of the stockholders be entitled to one vote for each share of the capital stock held by such stockholder <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>Note 6 – <em>COMMITMENTS AND CONTINGENCIES</em></strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">In the normal course of business, the Company may become a party to litigation matters involving claims against it. At March 31, 2022, there are no current matters that would have a material effect on the Company’s financial position or results of operations. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The extent of the impact of the coronavirus (“COVID-19”) outbreak on the financial performance of the Company will depend on future developments, including the duration and spread of the outbreak and related advisories and restrictions and the impact of COVID-19 on the overall economy, all of which are highly uncertain and cannot be predicted. If the overall economy is impacted for an extended period, the Company’s future operating results may be materially adversely affected.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>Note 7 – <em>SUBSEQUENT EVENTS</em></strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">In accordance with FASB ASC Topic 855 “Subsequent Events”, the Company has analyzed its operations through May 10, 2022 and the date these financial statements were available to be issued, and there were no events to report. </p> EXCEL 27 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx M4$L#!!0 ( &]LJE0'04UB@0 +$ 0 9&]C4')O<',O87!P+GAM M;$V./0L",1!$_\IQO;=!P4)B0-!2L+(/>QLOD&1#LD)^OCG!CVX>;QA&WPIG M*N*I#BV&5(_C(I(/ !47BK9.7:=N')=HI6-Y #OGDK7A.YNJQ<&4GPZ4A!0W_J=0U[R;UEA_6\#MI7E!+ P04 M " !O;*I4[1&BDNX K @ $0 &1O8U!R;W!S+V-O&ULS9+! 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