UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 


 

FORM 10-Q

 


 

(Mark One)

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

FOR THE QUARTERLY PERIOD ENDING SEPTEMBER 30, 2023

 

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

For the transition period from to

 

Commission file number: 000-55298

 

MIKE THE PIKE PRODUCTIONS, INC.

(Name of registrant as specified in its Charter)

Wyoming

47-2131970

(State of Incorporation)

(IRS Employer Identification No.)

 

20860 N. Tatum Blvd. Suite 300, Phoenix, AZ

85050

(Address of principal executive offices)

(Zip Code)

 

Registrant’s telephone number, including area code: (310) 986-2734

 

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

COMMON STOCK

MIKP

OTCPINK

 

Indicate by check mark whether the registrant (1) 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 every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). 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 definition of “large accelerated filed,” “accelerated filed,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer ☐

 

Accelerated filer ☐

Non-accelerated filer

 

Smaller Reporting Company

 

 

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

 

As of November 21, 2023, we had 2,227,000,000 shares of common stock issued and outstanding.

 

 

 

 

TABLE OF CONTENTS

 

 

 

Page

PART I - FINANCIAL INFORMATION

 

 

 

 

Item 1.

Financial Statements

3

 

Consolidated Balance Sheets at September 30, 2023 and December 31, 2022 (Unaudited)

3

 

Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2023, and 2022 (Unaudited)

4

 

Consolidated Statements of Stockholders’ Deficit for the Three and Nine Months Ended September 30, 2023 (Unaudited)

5

 

Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2023, and 2022 (Unaudited)

6

 

Notes to Consolidated Financial Statements

7

Item 2.

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

12

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

14

Item 4.

Controls and Procedures

14

 

 

 

PART II - OTHER INFORMATION

 

 

 

 

Item 1.

Legal proceedings

15

Item 1A.

Risk Factors

15

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

15

Item 3.

Defaults Upon Senior Securities

15

Item 4.

Mine Safety Disclosures

15

Item 5.

Other Information

15

Item 6.

Exhibits

15

 

Signatures

16

 

 

 

 

 

PART I - FINANCIAL INFORMATION

 

ITEM 1. FINANCIAL STATEMENTS

 

MIKE THE PIKE PRODUCTIONS, INC.

CONSOLIDATED BALANCE SHEETS

AT SEPTEMBER 30, 2023 & DECEMBER 31, 2022

(UNAUDITED)

 

   

2023

   

2022

 
                 

ASSETS

               

CURRENT ASSETS

               

Cash

  $ 3,437     $ -  
                 

TOTAL CURRENT ASSETS

    3,437       -  
                 

OTHER ASSETS

               

Intangible Assets net of amortization

    1,647       10,211  
                 

TOTAL ASSETS

  $ 5,084     $ 10,211  
                 

LIABILITIES

               

Accounts Payable

  $ 9,421     $ 9,421  

Accrued Interest Payable

    1,479       -  

Due to Stockholder

    137,712       135,903  

Note Payable

    50,000       -  
                 

TOTAL CURRENT LIABILITIES

    198,612       145,324  
                 

TOTAL LIABILITIES

    198,612       145,324  
                 

STOCKHOLDERS’ (DEFICIT)

               

Preferred A Stock $.001 par value 100,000,000 Authorized 2,415,142 issued, and outstanding at September 30, 2023 and December 31, 2022 respectively

    2,415       2,415  

Common Stock, $.001 par value, 2,249,000,000 Authorized 2,227,000,000 issued and outstanding at September 30, 2023 and December 31, 2022 respectively

    2,227,000       2,227,000  

Additional paid-in-capital

    1,251,537       1,251,537  

Subscription receivable

    (2,229,415

)

    (2,229,415

)

Retained earnings

    (1,445,065

)

    (1,386,650

)

                 

TOTAL STOCKHOLDERS’ (DEFICIT)

    (193,528

)

    (135,113

)

                 

TOTAL LIABILITIES AND STOCKHOLDERS’ (DEFICIT)

  $ 5,084     $ 10,211  

 

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

 

 

MIKE THE PIKE PRODUCTIONS, INC.

CONSOLIDATED STATEMENT OF OPERATIONS

FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2023 & 2022

(UNAUDITED)

 

   

For the Three

Months Ended

September 30, 2023

   

For the Three

Months Ended

September 30, 2022

   

For the Nine

Months Ended

September 30, 2023

   

For the Nine

Months Ended

September 30, 2022

 

REVENUES:

                               
                                 

Sales

  $ -     $ -     $ -     $ -  
                                 

TOTAL REVENUE

    -       -       -       -  
                                 

Cost of Sales

    -       -       -       -  
                                 

GROSS MARGIN

    -       -       -       -  
                                 

OPERATING EXPENSES:

                            -  
                                 
Administrative Expenses     13,371       -       13,371       542  
                                 
Amortization (NOTE 4)     2,752       2,321       8,564       4,335  
                                 
Professional Fees     21,192       -       35,001       -  
                                 
Total Operating Expenses     37,315       2,321       56,936       4,877  
                                 

NET OPERATING LOSS

    (37,315 )     (2,321 )     (56,936 )     (4,877 )
                                 

OTHER INCOME/(EXPENSE)

                               

INTEREST

    (1,479 )     -       (1,479 )     -  
                                 

NET INCOME/ (LOSS)

  $ (38,794 )   $ (2,321 )   $ (58,415 )   $ (4,877 )
                                 

Basic and Diluted Net Income/(Loss) per Common Share

    (0.00 )     (0.00 )     (0.00 )     (0.00 )
                                 

Weighted Average Number of Common Shares Outstanding

    2,227,000,000       2,227,000,000       2,227,000,000       2,227,000,000  

 

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

 

 

MIKE THE PIKE PRODUCTIONS, INC.

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDER’S DEFICIT

FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2023, AND 2022

(UNAUDITED)

 

   

PREFERRED

   

COMMON STOCK

   

ADDITIONAL

PAID- IN

   

SUBSCRIPTION

   

ACCUMULATED

   

TOTAL SHAREHOLDERS

 
   

SHARES

   

VALUE

   

SHARES

   

VALUE

   

CAPITAL

   

RECEIVABLE

   

(DEFICIT)

   

(DEFICIT)

 
                                                                 

BALANCE DECEMBER 31, 2021

    2,415,142     $ 2,415       2,227,000,000     $ 2,227,000     $ 1,251,537       (2,229,415

)

  $ (1,378,819

)

  $ (127,282

)

                                                                 

NET LOSS MARCH 31, 2022

                                                  $ (689

)

    (689

)

                                                                 

BALANCE MARCH 31, 2022

    2,415,142     $ 2,415       2,227,000,000     $ 2,227,000     $ 1,251,537       (2,229,415

)

  $ (1,379,508

)

  $ (127,971

)

                                                                 

NET LOSS JUNE 30, 2022

                                                  $ (1,867

)

    (1,867

)

                                                                 

BALANCE JUNE 30, 2022

    2,415,142     $ 2,415       2,227,000,000     $ 2,227,000     $ 1,251,537       (2,229,415

)

  $ (1,381,375

)

  $ (129,838

)

                                                                 

NET LOSS SEPTEMBER 30, 2022

                                                  $ (2,321 )     (2,321 )
                                                                 

BALANCE SEPTEMBER 30, 2022

    2,415,142     $ 2,415       2,227,000,000     $ 2,227,000     $ 1,251,537       (2,229,415 )   $ (1,383,696 )   $ (132,159 )
                                                                 

BALANCE DECEMBER 31, 2022

    2,415,142     $ 2,415       2,227,000,000     $ 2,227,000     $ 1,251,537       (2,229,415

)

  $ (1,386,650

)

  $ (135,113

)

                                                                 

NET LOSS MARCH 31, 2023

                                                  $ (8,099

)

    (8,099

)

                                                                 

BALANCE MARCH 31, 2023

    2,415,142     $ 2,415       2,227,000,000     $ 2,227,000     $ 1,251,537       (2,229,415

)

  $ (1,394,749

)

  $ (143,212

)

                                                                 

NET LOSS JUNE 30, 2023

                                                  $ (11,522

)

    (11,522

)

                                                                 

BALANCE JUNE 30, 2023

    2,415,142     $ 2,415       2,227,000,000     $ 2,227,000     $ 1,251,537       (2,229,415

)

  $ (1,406,271

)

  $ (154,734

)

                                                                 

NET LOSS SEPTEMBER 30, 2023

                                                    (38,794 )     (38,794 )
                                                                 

BALANCE SEPTEMBER 30, 2023

    2,415,142     $ 2,415       2,227,000,000     $ 2,227,000     $ 1,251,537     $ (2,229,415 )     (1,445,065 )   $ (193,528 )

 

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

 

 

MIKE THE PIKE PRODUCTIONS, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2023, AND 2022

(UNAUDITED)

 

   

2023

   

2022

 
                 

CASH FLOWS FROM OPERATING ACTIVITIES

               

Net Loss

  $ (58,415

)

    (4,877

)

Adjustments to reconcile Loss to net cash provided (used) in operating activities:

               
                 

Amortization

    8,564       4,377  

Changes in operating assets and liabilities:

               
                 
Increase/ (decrease) in accounts payable     -       500  

Increase/ (decrease) in accrued interest payable

    1,479       -  
                 

NET CASH (USED IN) PROVIDED OPERATING ACTIVITIES

    (48,372

)

    -  
                 

CASH FLOWS FROM INVESTING ACTIVITIES

               

Purchase of intangible assets

    -       10,000  
                 

NET CASH PROVIDED (USED IN) INVESTING ACTIVITIES

    -       (10,000

)

                 

CASH FLOWS FROM FINANCING ACTIVITIES

               

Proceeds from issuance of notes payable

    50,000       -  

Increase/(Decrease) in Due to Stockholder

    1,809       10,000  
                 

NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES

    51,809       10,000  
                 

NET INCREASE (DECREASE) IN CASH

    3,437       -  
                 

CASH, BEGINNING OF PERIOD

    -       -  
                 

CASH, END OF PERIOD

  $ 3,437     $ -  
                 

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION

               

 

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

 

 

MIKE THE PIKE PRODUCTIONS, INC.

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS.

SEPTEMBER 30, 2023, AND 2022

 

NOTE 1  ORGANIZATION AND OPERATIONS

 

Mike The Pike Productions, Inc. (the “Company”) is the successor entity to the business of Pine Ridge Holdings Inc. a corporation formed in Nevada in 2001.

 

Prior to August, 2009 the Company was a Nevada corporation named Pine Ridge Holdings, Inc. engaged in the business of providing energy generation products. On April 24th 2009 Kevin May resigned and transferred ownership of shares to Mark B. Newbauer who was appointed President and CEO. On August 5th, 2009, the name was changed from Pine Ridge Holdings, Inc. to Mike The Pike Productions, Inc.

 

On December 6, 2009, the Company acquired all of the assets of Mike The Pike Productions, Inc. of Wyoming in exchange for 10,000,000 restricted shares of common stock. Concurrently with the Acquisition, the management of the Wyoming Corporation took control of the Board of Directors of the Company and the assets of the Company related to the energy business were spun-off to entity controlled by the previous management of the Company. On October 5, 2010 a merger was consummated which re-domiciled the Company in Wyoming and Mike The Pike Productions, Inc. survived the merger as a Wyoming Company.

 

NOTE 2 GOING CONCERN ANALYSIS

 

The Company was incorporated on August 5, 2009, and has not generated significant revenues to date. During the nine months ended September 30, 2023, and 2022, the Company had net loss of $58,415 and $4,877 respectively and no cash flow from operating activities of. As of September 30, 2023, and 2022, the Company’s cash balance was $3,437 and nil respectively. The Company has been dormant for many years. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company expects to continue to generate operating losses for the foreseeable future. The accompanying unaudited consolidated financial statements do not include any adjustments as a result of this uncertainty.

 

Management Plans

 

Throughout the next twelve months, the Company intends to fund its operations primarily from owner and third-party funding.

 

The Company requires capital for its contemplated activities. The Company’s ability to raise additional capital is unknown. The obtainment of additional financing, the successful development of the Company’s contemplated plan of operations, and its transition, ultimately, to the attainment of profitable operations are necessary for the Company to continue operations. These conditions and the ability to successfully resolve these factors raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements of the Company do not include any adjustments that may result from the outcome of these uncertainties.

 

The Company depends upon capital to be derived from future financing activities such as subsequent offerings of its common stock or debt financing in order to operate and grow the business. There can be no assurance that the Company will be successful in raising such capital. The key factors that are not within the Company's control and that may have a direct bearing on operating results include, but are not limited to, acceptance of the Company's business plan, the ability to raise capital in the future, the ability to expand its customer base, and the ability to hire key employees to provide services. There may be other risks and circumstances that management may be unable to predict.

 

The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the possible inability of the Company to continue as a going concern.

 

NOTE 3 SIGNIFICANT ACCOUNTING POLICIES

 

A. PRINCIPALS OF CONSOLIDATION

 

These consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries Arowana Media Holdings, Inc. and Mike The Pike LLC incorporated in the state of Wyoming and Servenation, Inc. (inactive). All material inter-company balances and transactions were eliminated upon consolidation.

 

B. BASIS OF ACCOUNTING

 

The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”).

 

 

C. USE OF ESTIMATES

 

The preparation of consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates.

 

D. CASH AND CASH EQUIVALENTS

 

Cash and cash equivalents include cash on hand; cash in banks and any highly liquid investments with maturity of three months or less at the time of purchase. The Company maintains cash and cash equivalent balances at several financial institutions, which are insured by the Federal Deposit Insurance Corporation for up to $250,000.

 

E. COMPUTATION OF EARNINGS PER SHARE

 

Net income per share is computed by dividing the net income by the weighted average number of common shares outstanding during the period. Due to the net loss, the options and stock conversion of debt are not used in the calculation of earnings per share because the stock conversions and options are considered to be antidilutive.

 

F. INCOME TAXES

 

The Company uses the liability method of accounting for income taxes as set forth in ASC 740, Income Taxes. Under the liability method, deferred taxes are determined based on the temporary differences between the financial statement and tax basis of assets and liabilities using tax rates expected to be in effect during the years in which the basis differences reverse. A valuation allowance is recorded when it is unlikely that the deferred tax assets will not be realized.

 

We assess our income tax positions and record tax benefits for all years subject to examination based upon our evaluation of the facts, circumstances and information available at the reporting date. In accordance with ASC 740-10, for those tax positions where there is a greater than 50% likelihood that a tax benefit will be sustained, our policy will be to record the largest amount of tax benefit that is more likely than not to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. For those income tax positions where there is less than 50% likelihood that a tax benefit will be sustained, no tax benefit will be recognized in the financial statements.

 

G. REVENUE RECOGNITION

 

The adoption of ASC 606 (Revenue From Contracts With Customers) represents a change in accounting principle that will more closely align revenue recognition with the delivery of the Company’s services and will provide financial statement readers with enhanced disclosures. In accordance with ASC 606, revenue will be recognized when a customer obtains control of promised services. The amount of revenue recognized reflects the consideration to which the Company expects to be entitled to receive in exchange for these services. To achieve this core principle, the Company applies the following five steps:

 

1) Identify the contract with a customer

 

2) Identify the performance obligations in the contract

 

3) Determine the transaction price

 

4) Allocate the transaction price to performance obligations in the contract

 

5) Recognize revenue when or as the Company satisfies a performance obligation

 

The Company has not recognized any revenue to-date.

 

 

I. FAIR VALUE MEASUREMENT

 

The Company adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements. ASC Topic 820 clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value.

 

The Company determines the fair value of a financial instrument as the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced sale or liquidation. The carrying amounts reported in the balance sheet for cash, accounts receivable, inventory, accounts payable and accrued expenses, and loans payable approximate their fair market value based on the short-term maturity of these instruments.

 

Fair value measurements are determined based on the assumptions that market participants would use in pricing an asset or liability. US GAAP establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. The established fair value hierarchy prioritizes the use of inputs used in valuation methodologies into the following three levels:

 

 

Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets. A quoted price in an active market provides the most reliable evidence of fair value and must be used to measure fair value whenever available.

 

 

 

Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.

 

 

 

Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. For example, level 3 inputs would relate to forecasts of future earnings and cash flows used in a discounted future cash flows method.

 

The Company did not identify any assets or liabilities that are required to be presented on the balance sheets at fair value in accordance with ASC Topic 820.

 

Due to the short-term nature of all financial assets and liabilities, their carrying value approximates their fair value as of the balance sheet dates.

 

J. RECENT ACCOUNTING PRONOUNCEMENTS

 

The FASB issues ASUs to amend the authoritative literature in ASC. There have been several ASUs to date, including those above, that amend the original text of ASC. Management believes that those issued to date either (i) provide supplemental guidance, (ii) are technical corrections, (iii) are not applicable to us or (iv) are not expected to have a significant impact on our financial statements.

 

K. INTANGIBLE ASSETS

 

Intangible assets are stated at cost less accumulated amortization. For intangible assets that have finite lives, the assets are amortized using the straight-line method over the estimated useful lives of the related assets. For intangible assets with indefinite lives, the assets are tested periodically for impairment.

 

 

NOTE 4 INTANGIBLE ASSETS

 

Intangible Assets at September 30, 2023 and December 31, 2022 consists of the following:

 

   

September 30, 2023

   

December 31, 2022

 

Intangible Assets

  $ 17,500     $ 17,500  

Less: Accumulated Amortization

  $ (15,853

)

  $ (7,289

)

Net Intangible Assets

  $ 1,647     $ 10,211  

 

The Company invests in various intellectual properties such as short stories and novels to be developed into future movie projects. By definition these intangible assets are amortized over an 18-month period. Amortization expense for the three months ended September 30, 2023, and September 30, 2022, was $2,752 and $2,321 respectively and for the nine months ended September 30, 2023, and 2022 was $8,564 and $4,335, respectively. At September 30, 2023, and December 31, 2022, the Company has determined that the intangible asset should not be impaired.

 

NOTE 5 – STOCKHOLDERS EQUIY/(DEFICIT)

 

AUTHORIZED SHARES & TYPES

 

Common Stock

 

2,249,000,000 common authorized, 2,227,000,000 issued and outstanding at September 30, 2023, and September 30, 2022, respectively.

 

Our authorized capital common stock is 2,249,000,000 shares of $0.001 par value. Holders of shares of common stock are entitled to one vote for each share on all matters to be voted on by the stockholders. Holders of common stock do not have cumulative voting rights. Holders of common stock are entitled to share ratably in dividends, if any, as may be declared from time to time by the Board of Directors in its discretion from funds legally available. In the event of a liquidation, dissolution or winding up of the company, the holders of common stock are entitled to share pro rata all assets remaining after payment in full of all liabilities. All of the outstanding shares of common stock are fully paid and non-assessable.

 

Holders of common stock have no preemptive rights to purchase the Company’s common stock. There are no conversion or redemption rights or sinking fund provisions with respect to the common stock.

 

Preferred stock

 

100,000,000 preferred authorized, 2,415,142 issued and outstanding at September 30, 2023 and September 30, 2022, respectively.

 

Our authorized capital preferred stock is 100,000,000 shares of $0.001 par value preferred stock. Pursuant to our Articles of Incorporation, our board has the authority, without further stockholder approval, to provide for the issuance of up to 100,000,000 shares of our preferred stock in one or more series and to determine the dividend rights, conversion rights, voting rights, rights in terms of redemption, liquidation preferences, the number of shares constituting any such series and the designation of such series. Our board has the power to afford preferences, powers and rights (including voting rights) to the holders of any preferred stock preferences, such rights and preferences being senior to the rights of holders of common stock.

 

Our Board of Directors have designated a single Series of Preferred Stock designated as Series A Preferred. Series A Preferred Shares are convertible to common stock at the rate of each share of preferred is converted into 1,000 shares of common after notice to the Company by the holder. Preferred shares enjoy voting rights at the rate of 1/1000 (one share of preferred votes one thousand common shares) with common stock and shall be entitled to vote when the holders of common stock shall have the right to vote.

 

 

Dividends

 

We have not paid any dividends on our common stock and do not presently intend to pay cash dividends prior to the consummation of a business combination. The payment of cash dividends in the future, if any, will be contingent upon our revenues and earnings, if any, capital requirements and general financial condition subsequent to consummation of a business combination, if any. The payment of any dividends subsequent to a business combination, if any, will be within the discretion of our then existing board of directors. It is the present intention of our board of directors to retain all earnings, if any, for use in our business operations and, accordingly, the board of directors does not anticipate paying any cash dividends in the foreseeable future.

 

NOTE 6  INCOME TAXES

 

Deferred tax assets arising as a result of net operation loss carry forwards have been offset completely by a valuation allowance due to the uncertainty of their utilization in future periods.

 

Based on its evaluation, the Company has concluded that there are no significant uncertain tax positions requiring recognition in its financial statements. The Company’s evaluation was performed for the tax years ended December 31, 2021 and 2019 for U.S. Federal Income Tax and for the State of Wyoming.

 

The Company has net operating loss carry forwards in the amount of approximately $1,445,065 that will expire beginning in 2024. The deferred tax assets including the net operating loss carry forward tax benefit of $1,445,065 total $918,000 which is offset by a valuation allowance. The other deferred tax assets include accrued officer compensation, stock-based compensation, and amortization. The Company’s ability to utilize net operating loss carryforwards will depend on its ability to generate adequate future taxable income.

 

The Company follows the provisions of uncertain tax positions. The Company recognized approximately no increase in the liability for unrecognized tax benefits.

 

The Company has no tax position at September 30, 2023 and December 31, 2022 for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility.

 

NOTE 7  RELATED PARTY TRANSACTIONS

 

During the nine months end September 30, 2023, and 2022, the Company’s CEO had advanced $1,809 and $10,000 respectively of personal funds. As of September 30, 2023, and December 31, 2022, the Company owed the CEO $137,712 and $135,903 respectively.

 

NOTE 8 – NOTE PAYABLE

 

The Company borrowed $50,000 under a Securities Purchase Agreement dated as of August 7, 2023, and a Promissory Note dated August 7, 2023 (“Note”). The Note is due the earlier of (i) the first closing under a Regulation A offering or (ii) six months from August 7, 2023 or February 6, 2024 whichever shall first occur. The Promissory Note carries an interest rate of 20% and has accrued $1,479 of interest at September 30, 2023.

 

NOTE 9 – SUBSEQUENT EVENTS

 

Management has evaluated subsequent events through the date these financial statements were available to be issued. Based on such evaluation, there are no material events that have occurred that require further disclosure.

 

 

ITEM 2. MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

 

This Form 10-Q includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included or incorporated by reference in this Form 10-Q which address activities, events or developments which the Company expects or anticipates will or may occur in the future, including such things as future capital expenditures (including the amount and nature thereof); finding suitable merger or acquisition candidates; expansion and growth of the Company’s business and operations; and other such matters are forward-looking statements. These statements are based on certain assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors it believes are appropriate under the circumstances. However, whether actual results or developments will conform with the Company’s expectations and predictions is subject to a number of risks and uncertainties, including general economic, market and business conditions; the business opportunities (or lack thereof) that may be presented to and pursued by the Company; changes in laws or regulation; and other factors, most of which are beyond the control of the Company.

 

These forward-looking statements can be identified by the use of predictive, future-tense or forward-looking terminology, such as “believes,” “anticipates,” “expects,” “estimates,” “plans,” “may,” “will,” or similar terms. These statements appear in a number of places in this Filing and include statements regarding the intent, belief or current expectations of the Company, and its directors or its officers with respect to, among other things: (i) trends affecting the Company’s financial condition or results of operations for its limited history; (ii) the Company’s business and growth strategies; and, (iii) the Company’s financing plans. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve significant risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Such factors that could adversely affect actual results and performance include, but are not limited to, the Company’s limited operating history, potential fluctuations in quarterly operating results and expenses, government regulation, technological change and competition.

 

Consequently, all of the forward-looking statements made in this Form 10-Q are qualified by these cautionary statements and there can be no assurance that the actual results or developments anticipated by the Company will be realized or, even if substantially realized, that they will have the expected consequence to or effects on the Company or its business or operations. The Company assumes no obligations to update any such forward-looking statements.

 

General Business Development

 

The Company operates as a media holdings company with an active focus in the entertainment industry, including motion picture/entertainment content development, production & distribution, graphic novels, and literary assets.

 

There is something truly magical about storytelling that has been with us since humans first populated the planet.

 

Written form dates back tens of thousands of years ago, with works like Aesop’s Fables and The Epic of Gilgamesh, carved on stone pillars; and works of literature have been adapted for film since the dawn of the industry, like the work of Georges Méliès in 1899, who released two adaptations of established IP — Cinderella, based on the Brothers Grimm and King John, the first known film to be based on the works of Shakespeare.

 

Today, IP is in higher demand than ever before with streamers and studios willing to pay top dollar for compelling storytelling, source material, & other IP on which to base content with built-in audience potential.

 

A fan-held company helps ensure we bring audiences around the world the kind of content that truly resonates with our human experience no matter who we are, or where we are from: transcendent storytelling across a wide range of genres, brought to life in ways like never before!

 

Arowana Media Holdings is an entertainment company with a passion for timeless and transcendent storytelling across film, television, digital media, and other entertainment mediums.

 

We do this in our flagship subsidiary, Mike the Pike Entertainment LLC, where we secure rights to undervalued and/or legacy IP and develop, package and produce these materials for feature film, television series and more, in partnership with studios and production companies.

 

 

Going Concern

 

The future of our company is dependent upon its ability to obtain financing and upon future profitable operations. Management has plans to seek additional capital through a private placement and public offering of its common stock, if necessary.

 

Results of Operations

 

We did not generate revenues during the nine month periods ended September 30, 2022 or 2023. Total operating expenses were $56,936 during the nine month periods ended September 30, 2023, and $4,877 for the nine month period ended September 30, 2022. Net losses for the nine month period at September 30, 2023 and for the nine month periods ended September 30, 2022, were $58,415 and $ 4,877, respectively. The increase in the operating expenses and the net loss for 2023 resulted from increases in legal and accounting expenses.

 

Critical Accounting Policies

 

In Financial Reporting release No. 60, “CAUTIONARY ADVICE REGARDING DISCLOSURE ABOUT CRITICAL ACCOUNTING POLICIES” (“FRR 60”), the Securities and Exchange Commission suggested that companies provide additional disclosure and commentary on their most critical accounting policies. In FRR 60, the SEC defined the most critical accounting policies as the ones that are most important to the portrayal of a company’s financial condition and operating results, and require management to make its most difficult and subjective judgments, often as a result of the need to make estimates of matters that are inherently uncertain. Based on this definition, our most critical accounting policies include: non-cash compensation valuation that affects the total expenses reported in the current period and the valuation of shares and underlying rights acquired with shares. The methods, estimates and judgments we use in applying these most critical accounting policies have a significant impact on the results we report in our financial statements.

 

 

 

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

 

Not Applicable to Smaller Reporting Companies.

 

ITEM 4. CONTROLS AND PROCEDURES

 

(a) Evaluation of Disclosure Controls and Procedures.

 

As of the end of the reporting period, September 30, 2023, we carried out an evaluation, under the supervision and with the participation of our management, including the Company’s Chairman and Chief Executive Officer/Principal Accounting Officer, of the effectiveness of the design and operation of our disclosure controls and procedures pursuant to Rule 13a-15(e) of the Securities Exchange Act of 1934 (the “Exchange Act”), which disclosure controls and procedures are designed to insure that information required to be disclosed by a company in the reports that it files under the Exchange Act is recorded, processed, summarized and reported within required time periods specified by the SEC’s rules and forms. Based upon that evaluation, the Chairman/CEO and the Chief Financial Officer concluded that our disclosure controls and procedures are not currently effective in timely alerting them to material information relating to the Company required to be included in the Company’s period SEC filings. The Company is attempting to expand such controls and procedures, however, due to a limited number of resources the complete segregation of duties is not currently in place.

 

(b) Changes in Internal Control.

 

Subsequent to the date of such evaluation as described in subparagraph (a) above, there were no changes in our internal controls or other factors that could significantly affect these controls, including any corrective action with regard to significant deficiencies and material weaknesses.

 

(c) Limitations.

 

Our management, including our Principal Executive Officer and Principal Financial Officer, does not expect that our disclosure controls or internal controls over financial reporting will prevent all errors or all instances of fraud. However, we believe that our disclosure controls and procedures are designed to provide reasonable assurance of achieving this objective. A control system, no matter how well designed and operated, can provide only reasonable, not absolute, assurance that the control system’s objectives will be met. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within our company have been detected. These inherent limitations include the realities that judgments in decision-making can be faulty, and that breakdowns can occur because of simple error or mistake. Controls can also be circumvented by the individual acts of some persons, by collusion of two or more people, or by management override of the controls. The design of any system of controls is based in part upon certain assumptions about the likelihood of future events, and any design may not succeed in achieving its stated goals under all potential future conditions. Over time, controls may become inadequate because of changes in conditions or deterioration in the degree of compliance with policies or procedures. Because of the inherent limitation of a cost-effective control system, misstatements due to error or fraud may occur and not be detected.

 

 

 

PART II OTHER INFORMATION

 

ITEM 1. LEGAL PROCEEDINGS

 

From time to time, we may become involved in various lawsuits and legal proceedings which arise in the ordinary course of business. However, litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise from time to time that may harm our business. We are currently not aware of any such legal proceedings or claims that we believe will have, individually or in the aggregate, a material adverse effect on our business, consolidated financial condition, or operating results.

 

ITEM 1A. RISK FACTORS

 

Not Applicable.

 

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

 

 

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

 

None

 

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

 

Not Applicable.

 

ITEM 5. OTHER INFORMATION

 

Not Applicable.

 

ITEM 6. EXHIBITS

 

Exhibit

Number

 

Description of Document

31.1

 

Certification of Chief Executive Officer pursuant to Securities Exchange Act Rule 13a-14(a)/15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.2

 

Certification of Chief Financial Officer pursuant to Securities Exchange Act Rule 13a-14(a)/15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

32.1

 

Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

32.2

 

Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

99.1

 

Promissory Note dated August 7, 2023 for $50,000 payable to John Neville (“Neville Note”). (1)

99.2

 

Securities Purchase Agreement dated August 7, 2023 between the Company and John Neville with respect to the issuance of the Neville Note. (1)

101.INS

 

Inline XBRL Instance Document

101.SCH

 

Inline XBRL Taxonomy Extension Schema

101.CAL

 

Inline XBRL Taxonomy Extension Calculation Linkbase

101.DEF

 

Inline XBRL Taxonomy Extension Definition Linkbase

101.LAB

 

Inline XBRL Taxonomy Extension Label Linkbase

101.PRE

 

Inline XBRL Taxonomy Extension Presentation Linkbase

104

 

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

 

1.

Filed with. Registrant’s Form 10Q for the 6 Months Period Ended June 30, 2023, which was filed on August 22, 2023

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

November 22, 2023

 

 

MIKE THE PIKE PRODUCTIONS, INC.

 

 

 

/s/ Mark Newbauer

 

 

Mark Newbauer

 

President

 

Chief Executive Officer (CEO)

 

 

 

 

 

/s/James DiPrima

 

 

James DiPrima

 

Chief Financial Officer (CFO)

 

Principal Accounting Officer (PAO)

 

16
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EXHIBIT 31.1

 

CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 302 OF

THE SARBANES-OXLEY ACT OF 2002

 

I, Mark Newbauer, the Chief Executive Officer of Mike the Pike Productions, Inc., certify that:

 

 

1.

I have reviewed the quarterly report on Form 10-Q of Mike The Pike Productions, Inc., for the quarter ended September 30, 2023;

 

 

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, the results of operations and cash flows of the small business issuer as of, and for, the periods presented in this report;

 

 

4.

The issuer’s other certifying officer(s) 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 for the issuer and have:

 

(a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the issuer, 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) evaluated the effectiveness of the issuer’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

 

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

 

 

5.

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

 

(a) all significant deficiencies in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the issuer’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 issuer’s internal control over financial reporting.

 

 

 

 

 

 

Dated: November 22, 2023

By:

/s/ Mark Newbauer

 

 

 

Mark Newbauer

 

 

 

Chief Executive Officer

 

 

 

 

EXHIBIT 31.2

 

CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 302 OF

THE SARBANES-OXLEY ACT OF 2002

 

I, James DiPrima, the Chief Financial Officer of Mike the Pike Productions, Inc., certify that:

 

 

1.

I have reviewed the quarterly report on Form 10-Q of Mike The Pike Productions, Inc., for the quarter ended September 30, 2023;

 

 

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, the results of operations and cash flows of the small business issuer as of, and for, the periods presented in this report;

 

 

4.

The issuer’s other certifying officer(s) 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 for the issuer and have:

 

(a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the issuer, 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) evaluated the effectiveness of the issuer’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

 

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

 

 

5.

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

 

(a) all significant deficiencies in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the issuer’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 issuer’s internal control over financial reporting.

 

 

 

 

 

 

Dated: November 22, 2023

By:

/s/ James DiPrima

 

 

 

James Di Prima

 

 

 

Chief Financial Officer

 

 

 

EXHIBIT 32.1

 

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 906

OF THE SARBANES-OXLEY ACT OF 2002

 

In connection with this Quarterly Report of Mike the Pike Productions, Inc. (the “Company”), on Form 10-Q for the quarter ended September 30, 2023, as filed with the U.S. Securities and Exchange Commission on the date hereof, I, Mark Newbauer, Chief Executive Officer, certify to the best of my knowledge, pursuant to 18 U.S.C. Sec. 1350, as adopted pursuant to Sec. 906 of the Sarbanes-Oxley Act of 2002, that:

 

(1)

Such Quarterly Report on Form 10-Q for the quarter ended September30, 2023 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 such Quarterly Report on Form 10-Q for the quarter ended September 30, 2023 fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

 

 

 

 

 

Dated: November 22, 2023

By:

/s/ Mark Newbauer

 

 

 

Mark Newbauer

 

 

 

Chief Executive Officer

 

 

 

 

 

EXHIBIT 32.2

 

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 906

OF THE SARBANES-OXLEY ACT OF 2002

 

In connection with this Quarterly Report of Mike the Pike Productions, Inc. (the “Company”), on Form 10-Q for the quarter ended September 30, 2023, as filed with the U.S. Securities and Exchange Commission on the date hereof, I, James DiPrima, Chief Financial Officer, certify to the best of my knowledge, pursuant to 18 U.S.C. Sec. 1350, as adopted pursuant to Sec. 906 of the Sarbanes-Oxley Act of 2002, that:

 

(1)

Such Quarterly Report on Form 10-Q for the quarter ended September30, 2023 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 such Quarterly Report on Form 10-Q for the quarter ended September 30, 2023 fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

 

 

 

 

 

Dated: November 22, 2023

By:

/s/ James DiPrima

 

 

 

James DiPrima

 

 

 

Chief Financial Officer

 

 

 

 
v3.23.3
Document And Entity Information - shares
9 Months Ended
Sep. 30, 2023
Nov. 21, 2023
Document Information Line Items    
Entity Registrant Name MIKE THE PIKE PRODUCTIONS, INC.  
Trading Symbol MIKP  
Document Type 10-Q  
Current Fiscal Year End Date --12-31  
Entity Common Stock, Shares Outstanding   2,227,000,000
Amendment Flag false  
Entity Central Index Key 0001550222  
Entity Current Reporting Status Yes  
Entity Filer Category Non-accelerated Filer  
Document Period End Date Sep. 30, 2023  
Document Fiscal Year Focus 2023  
Document Fiscal Period Focus Q3  
Entity Small Business true  
Entity Emerging Growth Company true  
Entity Shell Company false  
Entity Ex Transition Period false  
Document Quarterly Report true  
Document Transition Report false  
Entity File Number 000-55298  
Entity Incorporation, State or Country Code WY  
Entity Tax Identification Number 47-2131970  
Entity Address, Address Line One 20860 N. Tatum Blvd. Suite 300  
Entity Address, City or Town Phoenix  
Entity Address, State or Province AZ  
Entity Address, Postal Zip Code 85050  
City Area Code (310)  
Local Phone Number 986-2734  
Title of 12(b) Security COMMON STOCK  
Security Exchange Name NONE  
Entity Interactive Data Current Yes  
v3.23.3
CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2023
Dec. 31, 2022
CURRENT ASSETS    
Cash $ 3,437 $ 0
TOTAL CURRENT ASSETS 3,437 0
OTHER ASSETS    
Intangible Assets net of amortization 1,647 10,211
TOTAL ASSETS 5,084 10,211
LIABILITIES    
Accounts Payable 9,421 9,421
Accrued Interest Payable 1,479 0
Due to Stockholder 137,712 135,903
Note Payable 50,000 0
TOTAL CURRENT LIABILITIES 198,612 145,324
TOTAL LIABILITIES 198,612 145,324
STOCKHOLDERS’ (DEFICIT)    
Preferred A Stock $.001 par value 100,000,000 Authorized 2,415,142 issued, and outstanding at September 30, 2023 and December 31, 2022 respectively 2,415 2,415
Common Stock, $.001 par value, 2,249,000,000 Authorized 2,227,000,000 issued and outstanding at September 30, 2023 and December 31, 2022 respectively 2,227,000 2,227,000
Additional paid-in-capital 1,251,537 1,251,537
Subscription receivable (2,229,415) (2,229,415)
Retained earnings (1,445,065) (1,386,650)
TOTAL STOCKHOLDERS’ (DEFICIT) (193,528) (135,113)
TOTAL LIABILITIES AND STOCKHOLDERS’ (DEFICIT) $ 5,084 $ 10,211
v3.23.3
CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares
Sep. 30, 2023
Dec. 31, 2022
Statement of Financial Position [Abstract]    
Preferred A Stock, par value (in Dollars per share) $ 0.001 $ 0.001
Preferred A Stock, Authorized 100,000,000 100,000,000
Preferred A Stock, issued 2,415,142 2,415,142
Preferred A Stock outstanding 2,415,142 2,415,142
Common Stock, par value (in Dollars per share) $ 0.001 $ 0.001
Common Stock, Authorized 2,249,000,000 2,249,000,000
Common Stock, issued 2,227,000,000 2,227,000,000
Common Stock, outstanding 2,227,000,000 2,227,000,000
v3.23.3
CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Income Statement [Abstract]        
Sales $ 0 $ 0 $ 0 $ 0
TOTAL REVENUE 0 0 0 0
Cost of Sales 0 0 0 0
GROSS MARGIN 0 0 0 0
Administrative Expenses 13,371 0 13,371 542
Amortization (NOTE 4) 2,752 2,321 8,564 4,335
Professional Fees 21,192 0 35,001 0
Total Operating Expenses 37,315 2,321 56,936 4,877
NET OPERATING LOSS (37,315) (2,321) (56,936) (4,877)
OTHER INCOME/(EXPENSE)        
INTEREST (1,479) 0 (1,479) 0
NET INCOME/ (LOSS) $ (38,794) $ (2,321) $ (58,415) $ (4,877)
Basic and Diluted Net Income/(Loss) per Common Share (in Dollars per share) $ 0 $ 0 $ 0 $ 0
Weighted Average Number of Common Shares Outstanding (in Shares) 2,227,000,000 2,227,000,000 2,227,000,000 2,227,000,000
v3.23.3
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDER’S DEFICIT - USD ($)
Preferred Stock [Member]
Common Stock [Member]
Additional Paid-in Capital [Member]
Subscription Receivable [Member]
Retained Earnings [Member]
Total
BALANCE at Dec. 31, 2021 $ 2,415 $ 2,227,000 $ 1,251,537 $ (2,229,415) $ (1,378,819) $ (127,282)
BALANCE (in Shares) at Dec. 31, 2021 2,415,142 2,227,000,000        
NET LOSS         (689) (689)
BALANCE at Mar. 31, 2022 $ 2,415 $ 2,227,000 1,251,537 (2,229,415) (1,379,508) (127,971)
BALANCE (in Shares) at Mar. 31, 2022 2,415,142 2,227,000,000        
BALANCE at Dec. 31, 2021 $ 2,415 $ 2,227,000 1,251,537 (2,229,415) (1,378,819) (127,282)
BALANCE (in Shares) at Dec. 31, 2021 2,415,142 2,227,000,000        
NET LOSS           (4,877)
BALANCE at Sep. 30, 2022 $ 2,415 $ 2,227,000 1,251,537 (2,229,415) (1,383,696) (132,159)
BALANCE (in Shares) at Sep. 30, 2022 2,415,142 2,227,000,000        
BALANCE at Mar. 31, 2022 $ 2,415 $ 2,227,000 1,251,537 (2,229,415) (1,379,508) (127,971)
BALANCE (in Shares) at Mar. 31, 2022 2,415,142 2,227,000,000        
NET LOSS         (1,867) (1,867)
BALANCE at Jun. 30, 2022 $ 2,415 $ 2,227,000 1,251,537 (2,229,415) (1,381,375) (129,838)
BALANCE (in Shares) at Jun. 30, 2022 2,415,142 2,227,000,000        
NET LOSS         (2,321) (2,321)
BALANCE at Sep. 30, 2022 $ 2,415 $ 2,227,000 1,251,537 (2,229,415) (1,383,696) (132,159)
BALANCE (in Shares) at Sep. 30, 2022 2,415,142 2,227,000,000        
BALANCE at Dec. 31, 2022 $ 2,415 $ 2,227,000 1,251,537 (2,229,415) (1,386,650) (135,113)
BALANCE (in Shares) at Dec. 31, 2022 2,415,142 2,227,000,000        
NET LOSS         (8,099) (8,099)
BALANCE at Mar. 31, 2023 $ 2,415 $ 2,227,000 1,251,537 (2,229,415) (1,394,749) (143,212)
BALANCE (in Shares) at Mar. 31, 2023 2,415,142 2,227,000,000        
BALANCE at Dec. 31, 2022 $ 2,415 $ 2,227,000 1,251,537 (2,229,415) (1,386,650) (135,113)
BALANCE (in Shares) at Dec. 31, 2022 2,415,142 2,227,000,000        
NET LOSS           (58,415)
BALANCE at Sep. 30, 2023 $ 2,415 $ 2,227,000 1,251,537 (2,229,415) (1,445,065) (193,528)
BALANCE (in Shares) at Sep. 30, 2023 2,415,142 2,227,000,000        
BALANCE at Mar. 31, 2023 $ 2,415 $ 2,227,000 1,251,537 (2,229,415) (1,394,749) (143,212)
BALANCE (in Shares) at Mar. 31, 2023 2,415,142 2,227,000,000        
NET LOSS         (11,522) (11,522)
BALANCE at Jun. 30, 2023 $ 2,415 $ 2,227,000 1,251,537 (2,229,415) (1,406,271) (154,734)
BALANCE (in Shares) at Jun. 30, 2023 2,415,142 2,227,000,000        
NET LOSS         (38,794) (38,794)
BALANCE at Sep. 30, 2023 $ 2,415 $ 2,227,000 $ 1,251,537 $ (2,229,415) $ (1,445,065) $ (193,528)
BALANCE (in Shares) at Sep. 30, 2023 2,415,142 2,227,000,000        
v3.23.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Loss $ (58,415) $ (4,877)
Amortization 8,564 4,377
Increase/ (decrease) in accounts payable 0 500
Increase/ (decrease) in accrued interest payable 1,479 0
NET CASH (USED IN) PROVIDED OPERATING ACTIVITIES (48,372) 0
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of intangible assets 0 10,000
NET CASH PROVIDED (USED IN) INVESTING ACTIVITIES 0 (10,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of notes payable 50,000 0
Increase/(Decrease) in Due to Stockholder 1,809 10,000
NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES 51,809 10,000
NET INCREASE (DECREASE) IN CASH 3,437 0
CASH, BEGINNING OF PERIOD 0 0
CASH, END OF PERIOD $ 3,437 $ 0
v3.23.3
ORGANIZATION AND OPERATIONS
9 Months Ended
Sep. 30, 2023
Accounting Policies [Abstract]  
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

NOTE 1  ORGANIZATION AND OPERATIONS

 

Mike The Pike Productions, Inc. (the “Company”) is the successor entity to the business of Pine Ridge Holdings Inc. a corporation formed in Nevada in 2001.

 

Prior to August, 2009 the Company was a Nevada corporation named Pine Ridge Holdings, Inc. engaged in the business of providing energy generation products. On April 24th 2009 Kevin May resigned and transferred ownership of shares to Mark B. Newbauer who was appointed President and CEO. On August 5th, 2009, the name was changed from Pine Ridge Holdings, Inc. to Mike The Pike Productions, Inc.

 

On December 6, 2009, the Company acquired all of the assets of Mike The Pike Productions, Inc. of Wyoming in exchange for 10,000,000 restricted shares of common stock. Concurrently with the Acquisition, the management of the Wyoming Corporation took control of the Board of Directors of the Company and the assets of the Company related to the energy business were spun-off to entity controlled by the previous management of the Company. On October 5, 2010 a merger was consummated which re-domiciled the Company in Wyoming and Mike The Pike Productions, Inc. survived the merger as a Wyoming Company.

v3.23.3
GOING CONCERN ANALYSIS
9 Months Ended
Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Substantial Doubt about Going Concern [Text Block]

NOTE 2 GOING CONCERN ANALYSIS

 

The Company was incorporated on August 5, 2009, and has not generated significant revenues to date. During the nine months ended September 30, 2023, and 2022, the Company had net loss of $58,415 and $4,877 respectively and no cash flow from operating activities of. As of September 30, 2023, and 2022, the Company’s cash balance was $3,437 and nil respectively. The Company has been dormant for many years. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company expects to continue to generate operating losses for the foreseeable future. The accompanying unaudited consolidated financial statements do not include any adjustments as a result of this uncertainty.

 

Management Plans

 

Throughout the next twelve months, the Company intends to fund its operations primarily from owner and third-party funding.

 

The Company requires capital for its contemplated activities. The Company’s ability to raise additional capital is unknown. The obtainment of additional financing, the successful development of the Company’s contemplated plan of operations, and its transition, ultimately, to the attainment of profitable operations are necessary for the Company to continue operations. These conditions and the ability to successfully resolve these factors raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements of the Company do not include any adjustments that may result from the outcome of these uncertainties.

 

The Company depends upon capital to be derived from future financing activities such as subsequent offerings of its common stock or debt financing in order to operate and grow the business. There can be no assurance that the Company will be successful in raising such capital. The key factors that are not within the Company's control and that may have a direct bearing on operating results include, but are not limited to, acceptance of the Company's business plan, the ability to raise capital in the future, the ability to expand its customer base, and the ability to hire key employees to provide services. There may be other risks and circumstances that management may be unable to predict.

 

The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the possible inability of the Company to continue as a going concern.

v3.23.3
SIGNIFICANT ACCOUNTING POLICIES
9 Months Ended
Sep. 30, 2023
Accounting Policies [Abstract]  
Significant Accounting Policies [Text Block]

NOTE 3 SIGNIFICANT ACCOUNTING POLICIES

 

A. PRINCIPALS OF CONSOLIDATION

 

These consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries Arowana Media Holdings, Inc. and Mike The Pike LLC incorporated in the state of Wyoming and Servenation, Inc. (inactive). All material inter-company balances and transactions were eliminated upon consolidation.

 

B. BASIS OF ACCOUNTING

 

The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”).

 

C. USE OF ESTIMATES

 

The preparation of consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates.

 

D. CASH AND CASH EQUIVALENTS

 

Cash and cash equivalents include cash on hand; cash in banks and any highly liquid investments with maturity of three months or less at the time of purchase. The Company maintains cash and cash equivalent balances at several financial institutions, which are insured by the Federal Deposit Insurance Corporation for up to $250,000.

 

E. COMPUTATION OF EARNINGS PER SHARE

 

Net income per share is computed by dividing the net income by the weighted average number of common shares outstanding during the period. Due to the net loss, the options and stock conversion of debt are not used in the calculation of earnings per share because the stock conversions and options are considered to be antidilutive.

 

F. INCOME TAXES

 

The Company uses the liability method of accounting for income taxes as set forth in ASC 740, Income Taxes. Under the liability method, deferred taxes are determined based on the temporary differences between the financial statement and tax basis of assets and liabilities using tax rates expected to be in effect during the years in which the basis differences reverse. A valuation allowance is recorded when it is unlikely that the deferred tax assets will not be realized.

 

We assess our income tax positions and record tax benefits for all years subject to examination based upon our evaluation of the facts, circumstances and information available at the reporting date. In accordance with ASC 740-10, for those tax positions where there is a greater than 50% likelihood that a tax benefit will be sustained, our policy will be to record the largest amount of tax benefit that is more likely than not to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. For those income tax positions where there is less than 50% likelihood that a tax benefit will be sustained, no tax benefit will be recognized in the financial statements.

 

G. REVENUE RECOGNITION

 

The adoption of ASC 606 (Revenue From Contracts With Customers) represents a change in accounting principle that will more closely align revenue recognition with the delivery of the Company’s services and will provide financial statement readers with enhanced disclosures. In accordance with ASC 606, revenue will be recognized when a customer obtains control of promised services. The amount of revenue recognized reflects the consideration to which the Company expects to be entitled to receive in exchange for these services. To achieve this core principle, the Company applies the following five steps:

 

1) Identify the contract with a customer

 

2) Identify the performance obligations in the contract

 

3) Determine the transaction price

 

4) Allocate the transaction price to performance obligations in the contract

 

5) Recognize revenue when or as the Company satisfies a performance obligation

 

The Company has not recognized any revenue to-date.

 

I. FAIR VALUE MEASUREMENT

 

The Company adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements. ASC Topic 820 clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value.

 

The Company determines the fair value of a financial instrument as the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced sale or liquidation. The carrying amounts reported in the balance sheet for cash, accounts receivable, inventory, accounts payable and accrued expenses, and loans payable approximate their fair market value based on the short-term maturity of these instruments.

 

Fair value measurements are determined based on the assumptions that market participants would use in pricing an asset or liability. US GAAP establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. The established fair value hierarchy prioritizes the use of inputs used in valuation methodologies into the following three levels:

 

 

Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets. A quoted price in an active market provides the most reliable evidence of fair value and must be used to measure fair value whenever available.

 

 

 

Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.

 

 

 

Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. For example, level 3 inputs would relate to forecasts of future earnings and cash flows used in a discounted future cash flows method.

 

The Company did not identify any assets or liabilities that are required to be presented on the balance sheets at fair value in accordance with ASC Topic 820.

 

Due to the short-term nature of all financial assets and liabilities, their carrying value approximates their fair value as of the balance sheet dates.

 

J. RECENT ACCOUNTING PRONOUNCEMENTS

 

The FASB issues ASUs to amend the authoritative literature in ASC. There have been several ASUs to date, including those above, that amend the original text of ASC. Management believes that those issued to date either (i) provide supplemental guidance, (ii) are technical corrections, (iii) are not applicable to us or (iv) are not expected to have a significant impact on our financial statements.

 

K. INTANGIBLE ASSETS

 

Intangible assets are stated at cost less accumulated amortization. For intangible assets that have finite lives, the assets are amortized using the straight-line method over the estimated useful lives of the related assets. For intangible assets with indefinite lives, the assets are tested periodically for impairment.

v3.23.3
INTANGIBLE ASSETS
9 Months Ended
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets Disclosure [Text Block]

NOTE 4 INTANGIBLE ASSETS

 

Intangible Assets at September 30, 2023 and December 31, 2022 consists of the following:

 

   

September 30, 2023

   

December 31, 2022

 

Intangible Assets

  $ 17,500     $ 17,500  

Less: Accumulated Amortization

  $ (15,853

)

  $ (7,289

)

Net Intangible Assets

  $ 1,647     $ 10,211  

 

The Company invests in various intellectual properties such as short stories and novels to be developed into future movie projects. By definition these intangible assets are amortized over an 18-month period. Amortization expense for the three months ended September 30, 2023, and September 30, 2022, was $2,752 and $2,321 respectively and for the nine months ended September 30, 2023, and 2022 was $8,564 and $4,335, respectively. At September 30, 2023, and December 31, 2022, the Company has determined that the intangible asset should not be impaired.

v3.23.3
STOCKHOLDERS' EQUIY/(DEFICIT)
9 Months Ended
Sep. 30, 2023
Stockholders' Equity Note [Abstract]  
Equity [Text Block]

NOTE 5 – STOCKHOLDERS EQUIY/(DEFICIT)

 

AUTHORIZED SHARES & TYPES

 

Common Stock

 

2,249,000,000 common authorized, 2,227,000,000 issued and outstanding at September 30, 2023, and September 30, 2022, respectively.

 

Our authorized capital common stock is 2,249,000,000 shares of $0.001 par value. Holders of shares of common stock are entitled to one vote for each share on all matters to be voted on by the stockholders. Holders of common stock do not have cumulative voting rights. Holders of common stock are entitled to share ratably in dividends, if any, as may be declared from time to time by the Board of Directors in its discretion from funds legally available. In the event of a liquidation, dissolution or winding up of the company, the holders of common stock are entitled to share pro rata all assets remaining after payment in full of all liabilities. All of the outstanding shares of common stock are fully paid and non-assessable.

 

Holders of common stock have no preemptive rights to purchase the Company’s common stock. There are no conversion or redemption rights or sinking fund provisions with respect to the common stock.

 

Preferred stock

 

100,000,000 preferred authorized, 2,415,142 issued and outstanding at September 30, 2023 and September 30, 2022, respectively.

 

Our authorized capital preferred stock is 100,000,000 shares of $0.001 par value preferred stock. Pursuant to our Articles of Incorporation, our board has the authority, without further stockholder approval, to provide for the issuance of up to 100,000,000 shares of our preferred stock in one or more series and to determine the dividend rights, conversion rights, voting rights, rights in terms of redemption, liquidation preferences, the number of shares constituting any such series and the designation of such series. Our board has the power to afford preferences, powers and rights (including voting rights) to the holders of any preferred stock preferences, such rights and preferences being senior to the rights of holders of common stock.

 

Our Board of Directors have designated a single Series of Preferred Stock designated as Series A Preferred. Series A Preferred Shares are convertible to common stock at the rate of each share of preferred is converted into 1,000 shares of common after notice to the Company by the holder. Preferred shares enjoy voting rights at the rate of 1/1000 (one share of preferred votes one thousand common shares) with common stock and shall be entitled to vote when the holders of common stock shall have the right to vote.

 

Dividends

 

We have not paid any dividends on our common stock and do not presently intend to pay cash dividends prior to the consummation of a business combination. The payment of cash dividends in the future, if any, will be contingent upon our revenues and earnings, if any, capital requirements and general financial condition subsequent to consummation of a business combination, if any. The payment of any dividends subsequent to a business combination, if any, will be within the discretion of our then existing board of directors. It is the present intention of our board of directors to retain all earnings, if any, for use in our business operations and, accordingly, the board of directors does not anticipate paying any cash dividends in the foreseeable future.

v3.23.3
INCOME TAXES
9 Months Ended
Sep. 30, 2023
Income Tax Disclosure [Abstract]  
Income Tax Disclosure [Text Block]

NOTE 6  INCOME TAXES

 

Deferred tax assets arising as a result of net operation loss carry forwards have been offset completely by a valuation allowance due to the uncertainty of their utilization in future periods.

 

Based on its evaluation, the Company has concluded that there are no significant uncertain tax positions requiring recognition in its financial statements. The Company’s evaluation was performed for the tax years ended December 31, 2021 and 2019 for U.S. Federal Income Tax and for the State of Wyoming.

 

The Company has net operating loss carry forwards in the amount of approximately $1,445,065 that will expire beginning in 2024. The deferred tax assets including the net operating loss carry forward tax benefit of $1,445,065 total $918,000 which is offset by a valuation allowance. The other deferred tax assets include accrued officer compensation, stock-based compensation, and amortization. The Company’s ability to utilize net operating loss carryforwards will depend on its ability to generate adequate future taxable income.

 

The Company follows the provisions of uncertain tax positions. The Company recognized approximately no increase in the liability for unrecognized tax benefits.

 

The Company has no tax position at September 30, 2023 and December 31, 2022 for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility.

v3.23.3
RELATED PARTY TRANSACTIONS
9 Months Ended
Sep. 30, 2023
Related Party Transactions [Abstract]  
Related Party Transactions Disclosure [Text Block]

NOTE 7  RELATED PARTY TRANSACTIONS

 

During the nine months end September 30, 2023, and 2022, the Company’s CEO had advanced $1,809 and $10,000 respectively of personal funds. As of September 30, 2023, and December 31, 2022, the Company owed the CEO $137,712 and $135,903 respectively.

v3.23.3
NOTE PAYABLE
9 Months Ended
Sep. 30, 2023
Debt Disclosure [Abstract]  
Debt Disclosure [Text Block]

NOTE 8 – NOTE PAYABLE

 

The Company borrowed $50,000 under a Securities Purchase Agreement dated as of August 7, 2023, and a Promissory Note dated August 7, 2023 (“Note”). The Note is due the earlier of (i) the first closing under a Regulation A offering or (ii) six months from August 7, 2023 or February 6, 2024 whichever shall first occur. The Promissory Note carries an interest rate of 20% and has accrued $1,479 of interest at September 30, 2023.

v3.23.3
SUBSEQUENT EVENTS
9 Months Ended
Sep. 30, 2023
Subsequent Events [Abstract]  
Subsequent Events [Text Block]

NOTE 9 – SUBSEQUENT EVENTS

 

Management has evaluated subsequent events through the date these financial statements were available to be issued. Based on such evaluation, there are no material events that have occurred that require further disclosure.

v3.23.3
Accounting Policies, by Policy (Policies)
9 Months Ended
Sep. 30, 2023
Accounting Policies [Abstract]  
Consolidation, Policy [Policy Text Block]

A. PRINCIPALS OF CONSOLIDATION

These consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries Arowana Media Holdings, Inc. and Mike The Pike LLC incorporated in the state of Wyoming and Servenation, Inc. (inactive). All material inter-company balances and transactions were eliminated upon consolidation.

Basis of Accounting, Policy [Policy Text Block]

B. BASIS OF ACCOUNTING

The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”).

 

Use of Estimates, Policy [Policy Text Block]

C. USE OF ESTIMATES

The preparation of consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates.

Cash and Cash Equivalents, Policy [Policy Text Block]

D. CASH AND CASH EQUIVALENTS

Cash and cash equivalents include cash on hand; cash in banks and any highly liquid investments with maturity of three months or less at the time of purchase. The Company maintains cash and cash equivalent balances at several financial institutions, which are insured by the Federal Deposit Insurance Corporation for up to $250,000.

Earnings Per Share, Policy [Policy Text Block]

E. COMPUTATION OF EARNINGS PER SHARE

Net income per share is computed by dividing the net income by the weighted average number of common shares outstanding during the period. Due to the net loss, the options and stock conversion of debt are not used in the calculation of earnings per share because the stock conversions and options are considered to be antidilutive.

Income Tax, Policy [Policy Text Block]

F. INCOME TAXES

The Company uses the liability method of accounting for income taxes as set forth in ASC 740, Income Taxes. Under the liability method, deferred taxes are determined based on the temporary differences between the financial statement and tax basis of assets and liabilities using tax rates expected to be in effect during the years in which the basis differences reverse. A valuation allowance is recorded when it is unlikely that the deferred tax assets will not be realized.

We assess our income tax positions and record tax benefits for all years subject to examination based upon our evaluation of the facts, circumstances and information available at the reporting date. In accordance with ASC 740-10, for those tax positions where there is a greater than 50% likelihood that a tax benefit will be sustained, our policy will be to record the largest amount of tax benefit that is more likely than not to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. For those income tax positions where there is less than 50% likelihood that a tax benefit will be sustained, no tax benefit will be recognized in the financial statements.

Revenue [Policy Text Block]

G. REVENUE RECOGNITION

The adoption of ASC 606 (Revenue From Contracts With Customers) represents a change in accounting principle that will more closely align revenue recognition with the delivery of the Company’s services and will provide financial statement readers with enhanced disclosures. In accordance with ASC 606, revenue will be recognized when a customer obtains control of promised services. The amount of revenue recognized reflects the consideration to which the Company expects to be entitled to receive in exchange for these services. To achieve this core principle, the Company applies the following five steps:

1) Identify the contract with a customer

2) Identify the performance obligations in the contract

3) Determine the transaction price

4) Allocate the transaction price to performance obligations in the contract

5) Recognize revenue when or as the Company satisfies a performance obligation

The Company has not recognized any revenue to-date.

 

Fair Value of Financial Instruments, Policy [Policy Text Block]

I. FAIR VALUE MEASUREMENT

The Company adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements. ASC Topic 820 clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value.

The Company determines the fair value of a financial instrument as the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced sale or liquidation. The carrying amounts reported in the balance sheet for cash, accounts receivable, inventory, accounts payable and accrued expenses, and loans payable approximate their fair market value based on the short-term maturity of these instruments.

Fair value measurements are determined based on the assumptions that market participants would use in pricing an asset or liability. US GAAP establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. The established fair value hierarchy prioritizes the use of inputs used in valuation methodologies into the following three levels:

 

Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets. A quoted price in an active market provides the most reliable evidence of fair value and must be used to measure fair value whenever available.

 

 

 

Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.

 

 

 

Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. For example, level 3 inputs would relate to forecasts of future earnings and cash flows used in a discounted future cash flows method.

The Company did not identify any assets or liabilities that are required to be presented on the balance sheets at fair value in accordance with ASC Topic 820.

Due to the short-term nature of all financial assets and liabilities, their carrying value approximates their fair value as of the balance sheet dates.

New Accounting Pronouncements, Policy [Policy Text Block]

J. RECENT ACCOUNTING PRONOUNCEMENTS

The FASB issues ASUs to amend the authoritative literature in ASC. There have been several ASUs to date, including those above, that amend the original text of ASC. Management believes that those issued to date either (i) provide supplemental guidance, (ii) are technical corrections, (iii) are not applicable to us or (iv) are not expected to have a significant impact on our financial statements.

Intangible Assets, Finite-Lived, Policy [Policy Text Block]

K. INTANGIBLE ASSETS

Intangible assets are stated at cost less accumulated amortization. For intangible assets that have finite lives, the assets are amortized using the straight-line method over the estimated useful lives of the related assets. For intangible assets with indefinite lives, the assets are tested periodically for impairment.

v3.23.3
INTANGIBLE ASSETS (Tables)
9 Months Ended
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets and Goodwill [Table Text Block] Intangible Assets at September 30, 2023 and December 31, 2022 consists of the following:
   

September 30, 2023

   

December 31, 2022

 

Intangible Assets

  $ 17,500     $ 17,500  

Less: Accumulated Amortization

  $ (15,853

)

  $ (7,289

)

Net Intangible Assets

  $ 1,647     $ 10,211  
v3.23.3
ORGANIZATION AND OPERATIONS (Details)
Dec. 06, 2009
shares
Accounting Policies [Abstract]  
Conversion of Stock, Shares Issued 10,000,000
v3.23.3
GOING CONCERN ANALYSIS (Details) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]                  
Net Income (Loss) Attributable to Parent $ (38,794) $ (11,522) $ (8,099) $ (2,321) $ (1,867) $ (689) $ (58,415) $ (4,877)  
Cash and Cash Equivalents, at Carrying Value $ 3,437           $ 3,437  
v3.23.3
SIGNIFICANT ACCOUNTING POLICIES (Details)
Sep. 30, 2023
USD ($)
Accounting Policies [Abstract]  
Cash, FDIC Insured Amount $ 250,000
v3.23.3
INTANGIBLE ASSETS (Details) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]        
Finite-Lived Intangible Assets, Remaining Amortization Period 18 months   18 months  
Amortization of Intangible Assets $ 2,752 $ 2,321 $ 8,564 $ 4,335
v3.23.3
INTANGIBLE ASSETS (Details) - Schedule of Intangible Assets and Goodwill - USD ($)
Sep. 30, 2023
Dec. 31, 2022
Schedule Of Intangible Assets And Goodwill Abstract    
Intangible Assets $ 17,500 $ 17,500
Less: Accumulated Amortization (15,853) (7,289)
Net Intangible Assets $ 1,647 $ 10,211
v3.23.3
STOCKHOLDERS' EQUIY/(DEFICIT) (Details)
9 Months Ended
Sep. 30, 2023
$ / shares
shares
Dec. 31, 2022
$ / shares
shares
Stockholders' Equity Note [Abstract]    
Common Stock, Shares Authorized 2,249,000,000 2,249,000,000
Common Stock, Shares, Outstanding 2,227,000,000 2,227,000,000
Common Stock, Shares, Issued 2,227,000,000 2,227,000,000
Common Stock, Par or Stated Value Per Share (in Dollars per share) | $ / shares $ 0.001 $ 0.001
Preferred Stock, Shares Authorized 100,000,000 100,000,000
Preferred Stock, Shares Outstanding 2,415,142 2,415,142
Preferred Stock, Shares Issued 2,415,142 2,415,142
Preferred Stock, Par or Stated Value Per Share (in Dollars per share) | $ / shares $ 0.001 $ 0.001
Preferred Stock, Convertible, Conversion Ratio 1,000  
Preferred Stock, Voting Rights Preferred shares enjoy voting rights at the rate of 1/1000 (one share of preferred votes one thousand common shares) with common stock and shall be entitled to vote when the holders of common stock shall have the right to vote.  
v3.23.3
INCOME TAXES (Details)
Sep. 30, 2023
USD ($)
Income Tax Disclosure [Abstract]  
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration $ 1,445,065
Operating Loss Carryforwards 1,445,065
Deferred Tax Assets, Operating Loss Carryforwards $ 918,000
v3.23.3
RELATED PARTY TRANSACTIONS (Details) - Chief Executive Officer [Member] - USD ($)
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
RELATED PARTY TRANSACTIONS (Details) [Line Items]      
Proceeds from Loans $ 1,809 $ 10,000  
Other Liabilities, Current $ 137,712   $ 135,903
v3.23.3
NOTE PAYABLE (Details) - USD ($)
Aug. 07, 2023
Sep. 30, 2023
Dec. 31, 2022
NOTE PAYABLE (Details) [Line Items]      
Debt Instrument, Face Amount $ 50,000    
Debt Instrument, Maturity Date, Description The Note is due the earlier of (i) the first closing under a Regulation A offering or (ii) six months from August 7, 2023 or February 6, 2024 whichever shall first occur.    
Debt Instrument, Interest Rate, Stated Percentage 20.00%    
Interest Payable, Current   $ 1,479 $ 0
Notes Payable, Other Payables [Member]      
NOTE PAYABLE (Details) [Line Items]      
Interest Payable, Current   $ 1,479  

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