Quarterly report pursuant to Section 13 or 15(d)

10. Restatement

v3.8.0.1
10. Restatement
 3 Months Ended
Mar. 31, 2018
Accounting Changes and Error Corrections [Abstract]  
Restatement

Note 10 – Restatement

 

    Previously reported             Restated  
    3/31/2017     Adjustment       3/31/2017  
                     
Revenue   $ 82,190       184,255   {a}   $ 266,445  
Revenue - related party     –       3,008   {b}     3,008  
Total revenue     82,190                 269,453  
                           
Cost of Revenue     20,336       187,263   {a}     207,599  
                           
Gross Profit     61,854                 61,854  
                           
Operation Expenses:                          
Compensation - officers     30,000                 30,000  
Research and development     62,909                 62,909  
Professional fees     27,981                 27,981  
General and administrative     54,476                 54,476  
Total Operating Expenses     175,366                 175,366  
                           
Loss from Operations     (113,512 )               (113,512 )
                           
Other Income (Expense)                          
Interest expense, net     34                 34  
Other income     4,763                 4,763  
Total other expense     4,797                 4,797  
                           
Loss before income taxes     (108,715 )               (108,715 )
                           
Income tax provision     –                 –  
                           
Net Loss   $ (108,715 )             $ (108,715 )
                           
Weight Average Number of Common Shares Outstanding - Basic and Diluted     34,574,706                 34,574,706  
                           
Net Loss per common share                          
Basic and diluted   $ –               $ –  

 

{a} The Company previously recorded shipment of sales shipped directly from vendor to customer as net of cost of goods sold. The Company corrected the error by recording sales at gross amount and separately record cost of goods sold amount.

 

{b} Revenue generated from Vitashower Corp., a company owned by the CEO, amounted to $3,008 for the three months ended March 31, 2017 was reclassified to be separately disclosed.