2018 Q2 Form 10-Q Financial Statement

#000164033418001064 Filed on May 21, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2018 Q1 2017 Q1
Revenue -$10.00K $11.80K $178.00
YoY Change 6528.65% -94.99%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $110.0K $130.0K $140.0K
YoY Change -50.0% -7.14% 787.48%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00 $6.500K $10.81K
YoY Change -100.0% -39.86% -40.23%
% of Gross Profit
Operating Expenses $140.0K $136.4K $146.5K
YoY Change -39.13% -6.92% 8.98%
Operating Profit -$124.6K -$146.3K
YoY Change -14.87% 11.8%
Interest Expense -$500.0K $112.9K $10.51K
YoY Change 257.14% 975.0% -85.85%
% of Operating Profit
Other Income/Expense, Net -$272.5K -$5.230K
YoY Change 5110.71% -93.14%
Pretax Income -$650.0K -$400.0K -$150.0K
YoY Change 75.68% 166.67% -28.57%
Income Tax
% Of Pretax Income
Net Earnings -$650.0K -$397.1K -$151.6K
YoY Change 75.68% 162.02% -26.82%
Net Earnings / Revenue -3365.45% -85141.01%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.10 -$0.07 -$0.07
COMMON SHARES
Basic Shares Outstanding 1.200B shares 1.146B shares 469.7M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q2 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $50.00K $0.00 $20.00K
YoY Change 25.0% -100.0%
Cash & Equivalents $47.20K $1.258K $20.60K
Short-Term Investments
Other Short-Term Assets $40.00K
YoY Change -33.33%
Inventory
Prepaid Expenses $36.00K
Receivables $10.00K
Other Receivables $0.00
Total Short-Term Assets $47.20K $12.90K $56.60K
YoY Change 10.87% -77.21% -11.74%
LONG-TERM ASSETS
Property, Plant & Equipment $7.300K $13.80K $49.85K
YoY Change -81.3% -72.32% -47.05%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $24.52K
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $7.300K $38.32K $49.85K
YoY Change -81.3% -23.12% -47.05%
TOTAL ASSETS
Total Short-Term Assets $47.20K $12.90K $56.60K
Total Long-Term Assets $7.300K $38.32K $49.85K
Total Assets $54.50K $51.22K $106.4K
YoY Change -33.22% -51.88% -32.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $280.0K $200.0K $3.858K
YoY Change 4572.12% 5084.03% 228.34%
Accrued Expenses $2.484K $200.0K $100.0K
YoY Change 100.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $300.0K $210.0K $190.0K
YoY Change 76.47% 10.53% 137.5%
Total Short-Term Liabilities $1.904M $1.270M $347.4K
YoY Change 283.25% 265.69% 29.37%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.904M $1.270M $347.4K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.904M $1.270M $347.4K
YoY Change 283.25% 265.69% 29.37%
SHAREHOLDERS EQUITY
Retained Earnings -$6.777M -$6.124M -$4.410M
YoY Change 41.7% 38.86% 23.36%
Common Stock $124.0K $116.8K $46.47K
YoY Change 138.57% 151.45% 154.01%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.850M -$1.219M -$240.9K
YoY Change
Total Liabilities & Shareholders Equity $54.50K $51.22K $106.4K
YoY Change -33.22% -51.88% -32.74%

Cashflow Statement

Concept 2018 Q2 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income -$650.0K -$397.1K -$151.6K
YoY Change 75.68% 162.02% -26.82%
Depreciation, Depletion And Amortization $0.00 $6.500K $10.81K
YoY Change -100.0% -39.86% -40.23%
Cash From Operating Activities -$10.00K -$10.00K -$100.0K
YoY Change -87.5% -90.0% 900.0%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change
Cash From Investing Activities $0.00 $0.00 $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 60.00K 0.000 110.0K
YoY Change -40.0% -100.0%
NET CHANGE
Cash From Operating Activities -10.00K -10.00K -100.0K
Cash From Investing Activities 0.000 0.000 0.000
Cash From Financing Activities 60.00K 0.000 110.0K
Net Change In Cash 50.00K -10.00K 10.00K
YoY Change 150.0% -200.0% -200.0%
FREE CASH FLOW
Cash From Operating Activities -$10.00K -$10.00K -$100.0K
Capital Expenditures $0.00
Free Cash Flow -$100.0K
YoY Change 900.0%

Facts In Submission

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<p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px 0px 0px 0in; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: 400; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;"><b>1. NATURE OF OPERATIONS</b></p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px 0px 0px 0in; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: 400; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px 0px 0px 0in; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: 400; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;">AppYea, Inc. ("AppYea", "the Company", "we" or "us") was incorporated in the State of South Dakota on November 26, 2012 to engage in the acquisition, purchase, maintenance and creation of mobile software applications. The Company is in the development stage with no significant revenues and a limited operating history.</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px 0px 0px 0in; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: 400; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px 0px 0px 0in; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: 400; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;">The Company incorporated a wholly-owned subsidiary, "The Diagnostic Centers Inc." in State of South Dakota on August 2, 2017.</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px 0px 0px 0in; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: 400; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px 0px 0px 0in; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: 400; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;">On June 9, 2017, the Company entered into a Management Services Agreement (&#8220;MSA&#8221;) with The Diagnostic Group, LLC, A Delaware limited liability company (&#8220;TDG&#8221;) under the terms of which, the Company shall perform activities related to direct marketing of TDG products and services to healthcare providers. The initial term of the Agreement will be for thirty-six (36) months from the effective date. The MSA shall automatically renew for successive one (1) year terms, unless either Party gives the other Party ninety (90) days&#8217; written notice of termination prior to the effective date of any renewal term, or unless the MSA is terminated earlier in accordance with Section 6 of the MSA. The Company will be paid for providing services to directly recruited customers at the rate of 35% of the Net Collected Revenue collected from non-federally funded payors by third party providers affiliated or contracted with TDG for ancillary services ordered by recruited customers less any lab specific costs related to any referred samples and/or services and less any refunds or chargebacks. The Company will be paid by the 15th of each month for Net Collected Revenue from the previous month.</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px 0px 0px 0in; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: 400; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px 0px 0px 0in; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: 400; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;">The Company's common stock is traded on the OTC Markets (www.otcmarkets.com) under the symbol "APYP". The first day of trading on the OTC Markets was December 15, 2014.</p>
us-gaap Use Of Estimates
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<div> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px 0px 0px 0in; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: 400; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;"><b>Use of Estimates</b></p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px 0px 0px 0in; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: 400; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;">&#160;</p> <div align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px 0px 0px 0in; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: 400; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial;">The preparation of financial statements in accordance with accounting principles generally accepted in the United States 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 reporting period. Actual results could differ from those estimates. Significant estimates include assumptions about the valuation and recognition of stock-based compensation expense, the valuation and recognition of derivative liability, valuation allowance for deferred tax assets and useful life of fixed assets.</div> </div>
CY2017Q2 apyp Percentage Net Collected Revenue Paid To Recruited Customers
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CY2018Q1 apyp Working Capital Surplus Deficit
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CY2017Q2 us-gaap Property Plant And Equipment Gross
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CY2017Q2 us-gaap Debt Instrument Carrying Amount
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CY2018Q1 us-gaap Interest Payable Current
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CY2018Q1 us-gaap Convertible Debt Noncurrent
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CY2017Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
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CY2018Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
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apyp Class Of Warrant Or Right Granted
ClassOfWarrantOrRightGranted
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apyp Class Of Warrant Or Right With Reset Feature
ClassOfWarrantOrRightWithResetFeature
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apyp Class Of Warrant Or Right Exercised
ClassOfWarrantOrRightExercised
0 shares
apyp Class Of Warrant Or Right Forfeited Or Cancellation
ClassOfWarrantOrRightForfeitedOrCancellation
0 shares
CY2017Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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0.03
CY2018Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.0009
apyp Class Of Warrant Or Right Weighted Average Exercise Price Granted
ClassOfWarrantOrRightWeightedAverageExercisePriceGranted
0.0005
apyp Class Of Warrant Or Right Weighted Average Exercise Price With Reset Feature
ClassOfWarrantOrRightWeightedAverageExercisePriceWithResetFeature
0.0001
apyp Class Of Warrant Or Right Weighted Average Exercise Price Exercised
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0
apyp Class Of Warrant Or Right Weighted Average Exercise Price Forfeited Or Canceled
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0
apyp Warrants Outstanding Weighted Average Remaining Contractual Life
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P2Y2M23D
apyp Class Of Warrant Or Right Exercisable
ClassOfWarrantOrRightExercisable
198181818 shares
CY2018Q1 apyp Class Of Warrant Or Right Weighted Average Exercise Price
ClassOfWarrantOrRightWeightedAverageExercisePrice
0.0009
CY2018Q1 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
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apyp Number Of Lender
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us-gaap Debt Instrument Term
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CY2018Q1 apyp Class Of Warrant Or Right Exercisable Of Common Stock Shares
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us-gaap Amortization Of Financing Costs
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us-gaap Amortization Of Financing Costs
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CY2017Q2 us-gaap Notes Payable Related Parties Current And Noncurrent
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CY2018Q1 us-gaap Notes Payable Related Parties Current And Noncurrent
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CY2017Q2 us-gaap Notes Payable
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CY2018Q1 us-gaap Notes Payable
NotesPayable
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CY2017Q2 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
0 usd
CY2018Q1 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
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CY2017Q2 apyp Convertible Debt Related Party Current And Noncurrent
ConvertibleDebtRelatedPartyCurrentAndNoncurrent
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CY2018Q1 apyp Convertible Debt Related Party Current And Noncurrent
ConvertibleDebtRelatedPartyCurrentAndNoncurrent
7837 usd
CY2017Q2 apyp Convertible Debt Related Party Noncurrent
ConvertibleDebtRelatedPartyNoncurrent
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CY2018Q1 apyp Convertible Debt Related Party Noncurrent
ConvertibleDebtRelatedPartyNoncurrent
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us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.08 pure
us-gaap Debt Conversion Converted Instrument Rate
DebtConversionConvertedInstrumentRate
0.45 pure
CY2018Q1 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
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CY2018Q1 apyp Value Assigned To Derivative Liability Recognized As Debt Discount
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us-gaap Derivative Loss On Derivative
DerivativeLossOnDerivative
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us-gaap Fair Value Assumptions Expected Dividend Rate
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us-gaap Fair Value Assumptions Expected Dividend Rate
FairValueAssumptionsExpectedDividendRate
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apyp Addition Of New Derivatives Recognized As Debt Discounts
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235000 usd
apyp Addition Of New Derivatives Recognized As Loss On Derivatives
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us-gaap Increase Decrease In Derivative Liabilities
IncreaseDecreaseInDerivativeLiabilities
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CY2017Q4 us-gaap Stock Issued During Period Shares Issued For Services
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us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
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CY2013Q1 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
200 usd
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1820 usd
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1863 usd
CY2013Q1 us-gaap Lessor Leasing Arrangements Operating Leases Term Of Contract
LessorLeasingArrangementsOperatingLeasesTermOfContract
P3M
CY2013Q1 us-gaap Description Of Lessee Leasing Arrangements Operating Leases
DescriptionOfLesseeLeasingArrangementsOperatingLeases
Three-month periods unless there is the notice to cancel. The lease can be cancelled at any time by either party with 30 days' notice prior to expiration of an applicable term.
CY2018Q1 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
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us-gaap Preferred Stock Voting Rights
PreferredStockVotingRights
voting rights of 1,000 shares of common stock
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
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us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
200 usd
apyp Stock Issued Period For Common Stock Payable
StockIssuedPeriodForCommonStockPayable
57273 usd
us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
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us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
156330 usd
CY2017Q2 apyp Stock Issued During Period Shares Issuable For Consulting Services
StockIssuedDuringPeriodSharesIssuableForConsultingServices
55000000 shares
CY2018Q1 apyp Stock Issued During Period Shares Issuable For Consulting Services
StockIssuedDuringPeriodSharesIssuableForConsultingServices
25000000 shares
CY2017Q4 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
67500 usd
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
17000 usd
CY2018Q1 us-gaap Accounts Receivable Related Parties Current
AccountsReceivableRelatedPartiesCurrent
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CY2018Q1 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
11641 usd
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
11641 usd
CY2018Q1 us-gaap Gain Loss On Sale Of Stock In Subsidiary Or Equity Method Investee
GainLossOnSaleOfStockInSubsidiaryOrEquityMethodInvestee
-476 usd
us-gaap Gain Loss On Sale Of Stock In Subsidiary Or Equity Method Investee
GainLossOnSaleOfStockInSubsidiaryOrEquityMethodInvestee
-476 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-785 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
192078 usd
CY2017Q1 us-gaap Sales Revenue Net
SalesRevenueNet
178 usd
us-gaap Sales Revenue Net
SalesRevenueNet
719 usd
CY2018Q1 us-gaap Sales Revenue Net
SalesRevenueNet
11799 usd
us-gaap Sales Revenue Net
SalesRevenueNet
12843 usd
CY2017Q2 apyp Stock Payable To Consulting Services Common Shares Value
StockPayableToConsultingServicesCommonSharesValue
105000 usd
CY2018Q1 apyp Stock Payable To Consulting Services Common Shares Value
StockPayableToConsultingServicesCommonSharesValue
47727 usd

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