v3.10.0.1

DISCONTINUED OPERATIONS

3 Months Ended

Mar. 31, 2018

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

NOTE 4: DISCONTINUED OPERATIONS

On November 27, 2017, the Company entered into a Subscription Agreement for the purchase of 1,000,000 shares of restricted Series A Convertible Preferred Supermajority voting stock Pursuant to this agreement, the Company announced a shift in the strategic focus

As a result of this shift, the Company has recognized a cessation of it business operations for Rich Cigars in accordance with Accounting Standards Codification (ASC) 205-20, Discontinued Operations. As such, the historical results of the Company have been classified as discontinued operations. As of the year ended December 31, 2017, assets of discontinued operations consisted of property and equipment of $498. As of the period ended March 31, 2018 all property and equipment was written-off.

Results of the discontinued operations for the three months ended March 31, 2018 and 2017 are as follows:

		Three Months Ended March 31,				Three Months Ended March 31,
		2018				2017
REVENUES		$	—			$	2,497
COST OF SALES			—				1,651
GROSS PROFIT							846
OPERATION EXPENSES
Professional Fees			—				28,912
Officers Compensation			—				25,465
Legal Fees			—				20,280
Travel Expenses			—				19,363
Accounting and Audit			—				6,703
Other General and Administrative Expenses			—				4,901
Meal and Entertainment			—				4,793
Marketing Expense			—				1,762
Transfer Agent Fees			—				1,670
Amortization Expenses			—				425
Depreciation Expenses			—				107
Total operating income (expenses)			—				114,381
Income (loss) from operations		$	—			$	(113,535	)

		Three Months Ended, March 31, 2018				Three Months Ended  March 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income (loss) from operations		$	—			$	(113,535	)
Adjustments to reconcile net loss to net cash
Depreciation and Amortization			—				532
Change in assets and liabilities
Accounts receivable			—				(877	)
Prepaid expenses			—				(5,381	)
Inventory			—				871
Accounts payable and accrued expenses			—				9,489
Net cash used in operation activities		$	—			$	(108,901	)

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- References

No definition available.

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- Definition

The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-URI http://asc.fasb.org/subtopic&trid=2122178

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