2022 Q3 Form 10-Q Financial Statement

#000155335022000706 Filed on August 22, 2022

View on sec.gov

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
	dei	Entity Central Index Key EntityCentralIndexKey	0000768216
	dei	Amendment Flag AmendmentFlag	false
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2022
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q2
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
	LOGQ	Assigned Liabilities AssignedLiabilities		usd
	LOGQ	Settled Liabilities SettledLiabilities		usd
	dei	Document Type DocumentType	10-Q
	dei	Document Quarterly Report DocumentQuarterlyReport	true
	dei	Document Period End Date DocumentPeriodEndDate	2022-06-30
	dei	Document Transition Report DocumentTransitionReport	false
	dei	Entity File Number EntityFileNumber	000-22711
	dei	Entity Registrant Name EntityRegistrantName	LOGICQUEST TECHNOLOGY, INC.
	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	NV
	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	76-0640970
	dei	Entity Address Address Line1 EntityAddressAddressLine1	5 Independence Way
	dei	Entity Address Address Line2 EntityAddressAddressLine2	Suite 300
	dei	Entity Address City Or Town EntityAddressCityOrTown	Princeton
	dei	Entity Address State Or Province EntityAddressStateOrProvince	NJ
	dei	Entity Address Country EntityAddressCountry	US
	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	08540
	dei	City Area Code CityAreaCode	609
	dei	Local Phone Number LocalPhoneNumber	514-5136
	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
	dei	Entity Small Business EntitySmallBusiness	true
	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
	dei	Entity Shell Company EntityShellCompany	true
CY2022Q3	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	2301968	shares
CY2022Q2	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	510	usd
CY2021Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	1490	usd
CY2022Q2	us-gaap	Assets Current AssetsCurrent	510	usd
CY2021Q4	us-gaap	Assets Current AssetsCurrent	1490	usd
CY2022Q2	us-gaap	Assets Assets	510	usd
CY2021Q4	us-gaap	Assets Assets	1490	usd
CY2022Q2	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	12541	usd
CY2021Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	4126002	usd
CY2022Q2	us-gaap	Due To Related Parties Current DueToRelatedPartiesCurrent	1096043	usd
CY2021Q4	us-gaap	Due To Related Parties Current DueToRelatedPartiesCurrent	1050079	usd
CY2021Q4	us-gaap	Notes Payable Current NotesPayableCurrent	1337600	usd
CY2022Q2	us-gaap	Liabilities Current LiabilitiesCurrent	1108584	usd
CY2021Q4	us-gaap	Liabilities Current LiabilitiesCurrent	6513681	usd
CY2022Q2	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2021Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2022Q2	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	200000000	shares
CY2021Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	200000000	shares
CY2022Q2	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	2301968	shares
CY2021Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	2301968	shares
CY2022Q2	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	2301968	shares
CY2021Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	2301968	shares
CY2022Q2	us-gaap	Common Stock Value CommonStockValue	2302	usd
CY2021Q4	us-gaap	Common Stock Value CommonStockValue	2302	usd
CY2022Q2	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	28065874	usd
CY2021Q4	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	22487937	usd
CY2022Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-29176250	usd
CY2021Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-29002430	usd
CY2022Q2	us-gaap	Stockholders Equity StockholdersEquity	-1108074	usd
CY2021Q4	us-gaap	Stockholders Equity StockholdersEquity	-6512191	usd
CY2022Q2	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	510	usd
CY2021Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	1490	usd
CY2022Q2	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	20892	usd
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	2301968	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	2301968	shares
CY2022Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	2301968	shares
	us-gaap	Profit Loss ProfitLoss	-196988	usd
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-980	usd
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-582	usd
CY2021Q2	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	19626	usd
	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	40816	usd
	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	37493	usd
CY2022Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	-20892	usd
CY2021Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	-19626	usd
	us-gaap	Operating Income Loss OperatingIncomeLoss	-40816	usd
	us-gaap	Operating Income Loss OperatingIncomeLoss	-37493	usd
CY2022Q2	us-gaap	Interest Expense InterestExpense	53531	usd
CY2021Q2	us-gaap	Interest Expense InterestExpense	80023	usd
	us-gaap	Interest Expense InterestExpense	133004	usd
	us-gaap	Interest Expense InterestExpense	159495	usd
CY2022Q2	us-gaap	Net Income Loss NetIncomeLoss	-74423	usd
CY2021Q2	us-gaap	Net Income Loss NetIncomeLoss	-99649	usd
	us-gaap	Net Income Loss NetIncomeLoss	-173820	usd
	us-gaap	Net Income Loss NetIncomeLoss	-196988	usd
CY2022Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.03
CY2021Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.04
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.08
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.09
CY2022Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.03
CY2021Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.04
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.08
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.09
CY2022Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	2301968	shares
CY2021Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	2301968	shares
CY2021Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	2301968	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	2301968	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	2301968	shares
CY2022Q1	us-gaap	Stockholders Equity StockholdersEquity	-6611588	usd
CY2022Q2	us-gaap	Net Income Loss NetIncomeLoss	-74423	usd
CY2022Q2	us-gaap	Adjustments To Additional Paid In Capital Other AdjustmentsToAdditionalPaidInCapitalOther	5577937	usd
CY2022Q2	us-gaap	Stockholders Equity StockholdersEquity	-1108074	usd
CY2021Q4	us-gaap	Stockholders Equity StockholdersEquity	-6512191	usd
	us-gaap	Net Income Loss NetIncomeLoss	-173820	usd
	us-gaap	Adjustments To Additional Paid In Capital Other AdjustmentsToAdditionalPaidInCapitalOther	5577937	usd
CY2022Q2	us-gaap	Stockholders Equity StockholdersEquity	-1108074	usd
CY2021Q1	us-gaap	Stockholders Equity StockholdersEquity	-6206490	usd
CY2021Q2	us-gaap	Net Income Loss NetIncomeLoss	-99649	usd
CY2021Q2	us-gaap	Stockholders Equity StockholdersEquity	-6306139	usd
CY2020Q4	us-gaap	Stockholders Equity StockholdersEquity	-6109151	usd
	us-gaap	Net Income Loss NetIncomeLoss	-196988	usd
CY2021Q2	us-gaap	Stockholders Equity StockholdersEquity	-6306139	usd
	us-gaap	Profit Loss ProfitLoss	-173820	usd
	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	172840	usd
	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	196406	usd
	LOGQ	Assignment Of Thirdparty Liabilities To Related Party AssignmentOfThirdpartyLiabilitiesToRelatedParty	5577937	usd
	LOGQ	Settlement Of Liabilities With Related Party SettlementOfLiabilitiesWithRelatedParty	5577937	usd
	LOGQ	Operation Expenses Paid By Related Party OperationExpensesPaidByRelatedParty	45964	usd
	LOGQ	Operation Expenses Paid By Related Party OperationExpensesPaidByRelatedParty	46315	usd
CY2022Q2	us-gaap	Due To Related Parties Current DueToRelatedPartiesCurrent	1096043	usd
CY2021Q4	us-gaap	Due To Related Parties Current DueToRelatedPartiesCurrent	1050079	usd
	LOGQ	Assigned Liabilities AssignedLiabilities	5577937	usd
	LOGQ	Settled Liabilities SettledLiabilities	-5577937	usd
CY2022Q2	LOGQ	Agreement To Settle Liabilities Descripton AgreementToSettleLiabilitiesDescripton	In June 2022, Tang Chuan Choon signed an agreement with Logicquest Technology Limited, pursuant to which Tang Chuan Choon assigned his receivable from the Company, included in the Company’s balance sheet as note payable and accrued liabilities balances, in the aggregate amount of $5,577,937, to Logicquest Technology Limited, who then signed an agreement with the Company and settled the balances for $1. The transaction was closed as of June 30, 2022. The settlement was account for as a transaction under common control and the difference between amount paid and amount settled was recorded in equity.

Files In Submission

Name	View Source	Status
0001553350-22-000706-index-headers.html	Edgar Link	pending
0001553350-22-000706-index.html	Edgar Link	pending
0001553350-22-000706.txt	Edgar Link	pending
0001553350-22-000706-xbrl.zip	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
logq-20220630.xsd	Edgar Link	pending
logq_10q.htm	Edgar Link	pending
logq_ex31z1.htm	Edgar Link	pending
logq_ex32z1.htm	Edgar Link	pending
MetaLinks.json	Edgar Link	pending
R1.htm	Edgar Link	pending
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R2.htm	Edgar Link	pending
R3.htm	Edgar Link	pending
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R7.htm	Edgar Link	pending
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R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
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logq-20220630_lab.xml	Edgar Link	unprocessable
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