What changed in this filing

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Item 8. Financial Statements and Supplementary Data

2020-09-16 compared with 2019-10-25 · 27 added, 26 removed, 177 unchanged (23% of the section changed)

3 unchanged sentences

Statements of Operations for the years ended August 31, 2020 and August 31, 2019

Statements of Changes in Stockholders Equity for years ended August 31, 2019 and August 31, 2018.

Statements of Changes in Stockholders Equity (deficit) for years ended August 31, 2020 and August 31, 2019.

Statements of Cash Flows for the years ended August 31, 2020 and August 31, 2019

3 unchanged sentences

t TELEPHONE (858)722-5953 t FAX (858) 761-0341 t FAX (858) 764-5480

t E-MAIL changgpark@gmail.com

t E-MAIL changgpark@gmail.com t

Report of Independent Registered Public Accounting Firm

To the Board of Directors and Stockholders

3 unchanged sentences

In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of August 31, 2020 and 2019, and the results of its operations and its cash flows for the years ended August 31, 2020 and 2019, in conformity with accounting principles generally accepted in the United States of America.

Going Concern

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern.

Going Concern The accompanying financial statements have been prepared assuming that the Company will continue as a going concern.

As discussed in Note 2 to the financial statements, the Company has not generated any revenue and further losses are anticipated.

3 unchanged sentences

The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Basis for Opinion

These financial statements are the responsibility of the Companys management.

Basis for Opinion These financial statements are the responsibility of the Companys management.

Our responsibility is to express an opinion on the Companys financial statements based on our audits.

13 unchanged sentences

We have served as the Companys auditor since 2018.

October 24, 2019

September 16, 2020

San Diego, CA.

12 unchanged sentences

Loan from related parties

Stock refund payable

Accounts payable

Total current liabilities

2 unchanged sentences

Common stock, $0.001 par value, 75,000,000 shares authorized:

2,970,000 shares issued and outstanding (2,270,000 shares issued and outstanding as of August 31, 2018)

2,970,000 shares issued and outstanding

Additional Paid-In-Capital

22 unchanged sentences

Shares issued at $0.03

Shares issued at $0.01

Balances as of August 31, 2019

Shares issued at $0.03

Shares canceled

Balance as of August 31, 2020

7 unchanged sentences

Subscription Receivable

Accounts payable

Net cash used in operating activities

11 unchanged sentences

Cash paid for:

S upplemental disclosure of non-cash investing and financing information:

Repurchase of common stock for refund payable

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

5 unchanged sentences

(the Company) is a corporation established under the corporation laws in the State of Nevada on February 17, 2017.

The Company has adopted August 31 fiscal year end.

The Company has adopted the August 31 fiscal year- end.

The Company is a development stage company and intends to provide geodesy services.

5 unchanged sentences

In order to continue as a going concern, the Company will need, among other things, additional capital resources.

Managements plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking third party equity and/or debt financing.

The managements plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking third party equity and/or debt financing.

However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans.

8 unchanged sentences

The Companys policy regarding advertising is to expense advertising when incurred.

The Company did not incur advertising expense during period ended August 31, 2019.

The Company did not incur advertising expenses during the period ended August 31, 2020.

Stock-Based Compensation

9 unchanged sentences

New Accounting Pronouncements

There were various accounting standards and interpretations issued recently, none of which are expected to a have a material impact on our financial position, operations or cash flows.

There were various accounting standards and interpretations issued recently, none of which are expected to have a material impact on our financial position, operations, or cash flows.

Start-Up Costs

2 unchanged sentences

The company adopted the provisions of ASC Topic 820, Fair Value Measurements and Disclosures, which defines fair value as used in numerous accounting pronouncements, establishes a framework for measuring fair value and expands disclosure of fair value measurements.

The estimated fair value of certain financial instruments, including cash and cash equivalents are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments.

The estimated fair value of certain financial instruments, including cash and cash equivalents are carried at a historical cost basis, which approximates their fair values because of the short-term nature of these instruments.

ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date.

6 unchanged sentences

NOTE 4 FIXED ASSETS

On September 24, 2018, the company purchased computer for $950.

For the nine months ended August 31, 2019 the Company recognized $290 in depreciation expense.

On September 24, 2018, the company purchased a computer for $950.

For the years ended August 31, 2020 and 2019, the Company recognized $317 and $290 in depreciation expense, respectively.

The Company depreciates this asset over a period of thirty-nine (36) months which has been deemed its useful life.

1 unchanged sentence

The Company has 75,000,000 shares of common stock authorized with a par value of $0.001 per share.

On August 20, 2018, the Company issued 2,000,000 common shares at $0.001 per share for the total proceeds of $2,000.

On August 21, 2018 the Company issued 100,000 at $0.01 per share for the total proceeds of $1,000;

on August 31, 2018 the Company issued 170,000 at $0.01 per share for the total proceeds of $1,700.

For the year ended August 31, 2019, the Company issued 700,000 at $0.03 per share for the total proceeds of $21,000.

As of August 31, 2019, the Company had 2,970,000 shares issued and outstanding.

For the year ended August 31, 2020, the Company issued 65,000 common stock at $0.03 per share for the total proceeds of $1,950.

For the year ended August 31, 2020, the Company canceled 65,000 of its common stock and accrued a stock refund payable of $1,950.

As of August 31, 2020 and 2019, the Company had 2,970,000 and 2,970,000 shares issued and outstanding, respectively.

NOTE 6 RELATED PARTY TRANSACTIONS

5 unchanged sentences

The loan is non-interest bearing, due upon demand and unsecured.

At August 31, 2019, the Company had a net operating loss carryforward of $16,717, which begins to expire in fiscal year ending August 31, 2039.

Components of net deferred tax asset, including a valuation allowance, are as follows at August 31, 2019 and August 31, 2018:

On August 31, 2020, the Company had a net operating loss carryforward of $31,081, which begins to expire in the fiscal year ending August 31, 2020.

Components of net deferred tax asset, including a valuation allowance, are as follows on August 31, 2020 and August 31, 2019:

Deferred tax asset:

5 unchanged sentences

Net deferred tax asset

Valuation allowance for deferred tax asset as of August 31, 2019 was $3,510.

The valuation allowance for deferred tax assets as of August 31, 2020 was $6,527.

In assessing the recovery of the deferred tax asset, management considers whether it is more likely than not that some or all of the deferred tax asset will not be realized.

The realization of the deferred tax asset is dependent upon the generation of future taxable income in the periods in which those temporary differences become deductible.

The realization of the deferred tax assets is dependent upon the generation of future taxable income in the periods in which those temporary differences become deductible.

Management considers scheduled reversals of future deferred tax assets, projected future taxable income, and tax planning strategies in making this assessment.

9 unchanged sentences

The Company has evaluated all events that occurred after the balance sheet date of August 31, 2020 through the date these financial statements were issued and determined that there were the following subsequent events.

In September 2019, the Company issued 65,000 at $0.03 per share for the total proceeds of $1,950.

CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 8. Financial Statements and Supplementary Data