2021 Q4 Form 10-Q Financial Statement

#000147793221008219 Filed on November 15, 2021

View on sec.gov

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2021Q3	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.0001
CY2021Q3	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	1650000000	shares
CY2021Q3	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	10000	USD
CY2020Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	1650000000	shares
CY2021Q3	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	1533317059	shares
CY2020Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	1483317059	shares
CY2021Q3	us-gaap	Common Stock Value CommonStockValue	153332	USD
CY2020Q4	us-gaap	Common Stock Value CommonStockValue	148332	USD
CY2021Q3	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	2619845	USD
CY2020Q4	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	2624844	USD
CY2021Q3	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-3751016	USD
CY2020Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-3459423	USD
CY2021Q3	us-gaap	Stockholders Equity StockholdersEquity	-977686	USD
CY2020Q4	us-gaap	Stockholders Equity StockholdersEquity	-686093	USD
CY2021Q4	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	1533317059	shares
CY2021Q3	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	10000	USD
CY2020Q4	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	3000	USD
CY2021Q3	us-gaap	Assets Assets	10000	USD
CY2020Q4	us-gaap	Assets Assets	3000	USD
CY2021Q3	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	456099	USD
CY2020Q4	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	344253	USD
CY2021Q3	us-gaap	Notes Payable Current NotesPayableCurrent	395419	USD
CY2020Q4	us-gaap	Notes Payable Current NotesPayableCurrent	234336	USD
CY2021Q3	us-gaap	Due To Related Parties Current DueToRelatedPartiesCurrent	136168	USD
CY2020Q4	us-gaap	Due To Related Parties Current DueToRelatedPartiesCurrent	110504	USD
CY2021Q3	us-gaap	Liabilities Liabilities	987686	USD
CY2020Q4	us-gaap	Liabilities Liabilities	689093	USD
CY2020Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	3000	USD
	us-gaap	Revenues Revenues	0	USD
	us-gaap	Revenues Revenues	0	USD
	us-gaap	Salaries And Wages SalariesAndWages	135000	USD
	us-gaap	Salaries And Wages SalariesAndWages	135000	USD
	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	20730	USD
	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	6963	USD
	us-gaap	Professional Fees ProfessionalFees	102533	USD
	us-gaap	Professional Fees ProfessionalFees	70631	USD
	us-gaap	Operating Expenses OperatingExpenses	258263	USD
CY2020Q3	igpk	Preferred Stock Series A Conversion To Common Amount PreferredStockSeriesAConversionToCommonAmount	0	USD
CY2020Q3	us-gaap	Net Income Loss NetIncomeLoss	-53595	USD
CY2020Q3	us-gaap	Stockholders Equity StockholdersEquity	-570270	USD
CY2021Q2	us-gaap	Stockholders Equity StockholdersEquity	-883623	USD
CY2021Q3	us-gaap	Net Income Loss NetIncomeLoss	-94063	USD
CY2021Q3	us-gaap	Stockholders Equity StockholdersEquity	-977686	USD
CY2019Q4	us-gaap	Stockholders Equity StockholdersEquity	-339910	USD
	igpk	Preferred Stock Series A Conversion To Common Amount PreferredStockSeriesAConversionToCommonAmount	0	USD
	us-gaap	Net Income Loss NetIncomeLoss	-230360	USD
CY2020Q3	us-gaap	Stockholders Equity StockholdersEquity	-570270	USD
	igpk	Preferred Stock Series A Conversion To Common Amount PreferredStockSeriesAConversionToCommonAmount	0	USD
	us-gaap	Net Income Loss NetIncomeLoss	-291593	USD
CY2021Q3	us-gaap	Stockholders Equity StockholdersEquity	-977686	USD
	us-gaap	Net Income Loss NetIncomeLoss	-291593	USD
	us-gaap	Net Income Loss NetIncomeLoss	-230360	USD
	us-gaap	Increase Decrease In Prepaid Expense IncreaseDecreaseInPrepaidExpense	-7000	USD
	us-gaap	Increase Decrease In Prepaid Expense IncreaseDecreaseInPrepaidExpense	0	USD
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	111846	USD
	us-gaap	Operating Expenses OperatingExpenses	212594	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	-258263	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	-212594	USD
	us-gaap	Interest Expense InterestExpense	33330	USD
	us-gaap	Interest Expense InterestExpense	17766	USD
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-33330	USD
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-17766	USD
	us-gaap	Net Income Loss NetIncomeLoss	-291593	USD
	us-gaap	Net Income Loss NetIncomeLoss	-230360	USD
CY2021Q3	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.00
CY2020Q3	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.00
	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.00
	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.00
	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	1500533176	shares
	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	1196382752	shares
CY2020Q2	us-gaap	Stockholders Equity StockholdersEquity	-516675	USD
CY2020Q4	us-gaap	Stockholders Equity StockholdersEquity	-686093	USD
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	147432	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-186747	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-82928	USD
	us-gaap	Proceeds From Issuance Of Medium Term Notes ProceedsFromIssuanceOfMediumTermNotes	161083	USD
	us-gaap	Proceeds From Issuance Of Medium Term Notes ProceedsFromIssuanceOfMediumTermNotes	59713	USD
	igpk	Advances From Officer AdvancesFromOfficer	25664	USD
	igpk	Advances From Officer AdvancesFromOfficer	23215	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	186747	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	82928	USD
	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	0	USD
	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	0	USD
CY2021Q3	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	0	USD
CY2020Q3	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	0	USD
	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	0	USD
	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	0	USD
	us-gaap	Interest Paid Net InterestPaidNet	0	USD
	us-gaap	Interest Paid Net InterestPaidNet	0	USD
	us-gaap	Conversion Of Stock Amount Converted1 ConversionOfStockAmountConverted1	5000	USD
	us-gaap	Conversion Of Stock Amount Converted1 ConversionOfStockAmountConverted1	23000	USD
	us-gaap	Nature Of Operations NatureOfOperations	<p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>NOTE 1 – INCORPORATION AND OPERATIONS</strong></p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Integrated Cannabis Solutions, Inc. (the “Company”) is a Nevada corporation quoted  on OTC Markets Pink under the ticker "IGPK" . The Company was formed on December 31, 2003 and had nominal operations during the years ended December 31, 2020 and 2019. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company plans to process hemp or biomass into Cannabidiol (“CBD”) by establishing a processing plant in Wisconsin to supply manufacturers or pharmaceutical companies for their manufacture, distribution and sale of CBD related products such as edibles for human consumption, vitamins, and multi-vitamins, and topical products for human use such as oils, tinctures, creams, oils and salves, and vaping liquids. The Company also plans to promote and assist in the establishment of a co-op with local farmers for the purpose of establishing a consistent supply of biomass and enter into long term supply contracts. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On May 21, 2019, the Company formed Integrated Farming Solutions, LLC,  a limited liability company in Nevada. Integrated Farming Solutions, LLC is the Company’s wholly-owned subsidiary and has not yet begun operations. No assurance can be provided that the Company will be successful in implementing and executing on its business plans.</p>
	us-gaap	Use Of Estimates UseOfEstimates	<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company’s financial statements are prepared using the accrual method in accordance with Generally Accepted Accounting Principles in the United State of America (“GAAP”). The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Changes in estimates and assumptions are reflected in reported results in the period in which they become known. Significant estimates made by management include, but are not limited to, valuation of stock options, stock-based compensation, convertible debt and the valuation allowance associated with deferred tax assets. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, which management believes to be reasonable under the circumstances. Actual results could differ from those estimates.</p>
CY2021Q3	igpk	Working Capital Deficit WorkingCapitalDeficit	-977686	USD
CY2021Q3	us-gaap	Accounts Payable Current AccountsPayableCurrent	16826	USD
CY2020Q4	us-gaap	Accounts Payable Current AccountsPayableCurrent	73310	USD
CY2021Q3	us-gaap	Accrued Payroll Taxes Current AccruedPayrollTaxesCurrent	365000	USD
CY2020Q4	us-gaap	Accrued Payroll Taxes Current AccruedPayrollTaxesCurrent	230000	USD
CY2021Q3	us-gaap	Interest Payable Current InterestPayableCurrent	74273	USD
CY2020Q4	us-gaap	Interest Payable Current InterestPayableCurrent	40943	USD
CY2021Q3	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	456099	USD
CY2020Q4	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	344253	USD
CY2020Q4	us-gaap	Accrued Payroll Taxes Current AccruedPayrollTaxesCurrent	230000	USD
	us-gaap	Salaries And Wages SalariesAndWages	135000	USD
	us-gaap	Salaries And Wages SalariesAndWages	135000	USD
	us-gaap	Stock Issued During Period Shares Conversion Of Units StockIssuedDuringPeriodSharesConversionOfUnits	50000000	shares
	us-gaap	Stock Issued During Period Shares Conversion Of Units StockIssuedDuringPeriodSharesConversionOfUnits	100000000	shares

Files In Submission

Name	View Source	Status
0001477932-21-008219-index-headers.html	Edgar Link	pending
0001477932-21-008219-index.html	Edgar Link	pending
0001477932-21-008219.txt	Edgar Link	pending
0001477932-21-008219-xbrl.zip	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
Financial_Report.xlsx	Edgar Link	pending
igpk-20210930.xsd	Edgar Link	pending
igpk-20210930_cal.xml	Edgar Link	unprocessable
igpk-20210930_def.xml	Edgar Link	unprocessable
igpk-20210930_lab.xml	Edgar Link	unprocessable
igpk-20210930_pre.xml	Edgar Link	unprocessable
igpk_10q.htm	Edgar Link	pending
igpk_10q_htm.xml	Edgar Link	completed
igpk_ex311.htm	Edgar Link	pending
igpk_ex312.htm	Edgar Link	pending
igpk_ex321.htm	Edgar Link	pending
igpk_ex322.htm	Edgar Link	pending
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