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Share Name | Share Symbol | Market | Type |
---|---|---|---|
DKG Capital Inc (CE) | USOTC:DKGH | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0002 | 0.00 | 01:00:00 |
☒ |
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
☐ |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
|
|
NEVADA
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46-3787845
|
(State or other jurisdiction of
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(I.R.S. Employer
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incorporation or organization)
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Identification No.)
|
Large accelerated filer
☐
|
Accelerated filer
☐
|
Non-accelerated filer
☐
|
Smaller reporting company
☒
|
(Do not check if smaller reporting company)
|
Emerging growth company
☒
|
PART I FINANCIAL INFORMATION
|
|
|
Page
|
ITEM 1.
FINANCIAL STATEMENTS
|
|
|
|
Consolidated Balance Sheets (Unaudited) at September 30, 2017 and December 31, 2016
|
3
|
|
|
Consolidated Statements of Operations (Unaudited) for the three and nine months ended September 30, 2017 and 2016
|
4
|
|
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Consolidated Statements of Cash Flows (Unaudited) for the nine months ended September 30, 2017 and 2016
|
5
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|
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Notes to the consolidated Financial Statements (Unaudited)
|
6
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|
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ITEM 2
. Management's Discussion and Analysis and Plan of Operation
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8
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|
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ITEM 3
. Quantitative and Qualitative Disclosures About Market Risk
|
10
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|
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ITEM 4.
Controls and Procedures
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10
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|
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PART II OTHER INFORMATION
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|
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ITEM 1A
. Risk Factors
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11
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|
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ITEM 6.
Exhibits
|
11
|
|
|
INDEX TO EXHIBITS
|
11
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|
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SIGNATURES
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11
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September 30,
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December 31,
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|||||||
2017
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2016
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|||||||
ASSETS
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|
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||||||
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|
|
|
|
|
|
|
|
|
|
|
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|
|
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Total assets
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$
|
-
|
|
|
$
|
-
|
|
|
|
|
|
|
|
|
|
|
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LIABILITIES AND STOCKHOLDERS' DEFICIT
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||||||||
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|
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Current liabilities
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|
|
|
|
|
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Accounts payable and accrued liabilities
|
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$
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2,500
|
|
|
$
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8,500
|
|
Amount due to former director
|
|
|
2,306
|
|
|
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2,306
|
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Amount due to shareholder
|
|
|
21,218
|
|
|
|
-
|
|
Total current liabilities
|
|
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26,024
|
|
|
|
10,806
|
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|
|
|
|
|
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Stockholders' deficit
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|
|
|
|
|
|
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Common stock, 5,000,000,000 shares authorized, at
$0.001 par value, 14,893,714 shares
issued and outstanding, respectively
|
|
|
14,894
|
|
|
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14,894
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Additional paid-in capital
|
|
|
2,782,620
|
|
|
|
2,782,620
|
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Accumulated deficit
|
|
(2,823,538
|
)
|
|
|
(2,808,320
|
)
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|
Total stockholders' deficit
|
|
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(26,024
|
)
|
|
|
(10,806
|
)
|
|
|
|
|
|
|
|
|
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Total liabilities and stockholders' deficit
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|
$
|
-
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|
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$
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-
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|
|
For the Three Months ended
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For the Nine Months ended
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||||||||||||||
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September 30,
|
September 30,
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||||||||||||||
2017
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2016
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2017
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2016
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|||||||||||||
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|||||||||||||||
Operating expenses
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|
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||||||||
General and administrative
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$
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4,570
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|
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$
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8,225
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$
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15,218
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|
$
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25,765
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||||
Total operating expenses
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|
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4,570
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|
|
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8,225
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15,218
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25,765
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||||||
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||||||||||
Loss from operations
|
|
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(4,570
|
)
|
|
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(8,225
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)
|
(15,218
|
)
|
(25,765
|
)
|
||||
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|
|
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|||||||||||
Other expenses
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|
|
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|||||||||||
Interest expense
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|
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-
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|
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-
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-
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(500
|
)
|
||||||
Total other expenses
|
|
|
-
|
|
|
-
|
-
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(500
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)
|
||||||
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|
|
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|||||||||||
Loss before provision for income taxes
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|
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(4,570
|
)
|
|
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(8,225
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)
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(15,218
|
)
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(26,265
|
)
|
||||
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|
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|||||||||||
Net loss
|
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$
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(4,570
|
)
|
|
$
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(8,225
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)
|
$
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(15,218
|
)
|
$
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(26,265
|
)
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||
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|
|
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|||||||
Basic and diluted net loss per common share
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$
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(0.00
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)
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$
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(0.00
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)
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$
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(0.00
|
)
|
$
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(0.00
|
)
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||
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||||||
Weighted average common shares outstanding
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|
|
|
|
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|
|
|
|
|
||||||
Basic and diluted
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|
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14,893,714
|
|
|
|
14,893,714
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|
14,893,714
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|
14,893,714
|
|
For the Nine Months ended
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|||||||
September 30,
|
||||||||
2017
|
2016
|
|||||||
Cash flow from operating activities
|
|
|
||||||
Net loss
|
|
$
|
(15,218
|
)
|
|
$
|
(26,265
|
)
|
Adjustment to reconcile net loss to cash used in operating activities
|
|
|
|
|
|
|
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Amortization of intangible asset
|
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|
-
|
|
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1,600
|
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Change in assets and liabilities
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|
|
|
|
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|||
Increase in accounts payables and accruals
|
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15,218
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|
|
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3,804
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Net cash used in operating activities
|
|
|
-
|
|
|
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(20,861
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)
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|
|
|
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|
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Cash flows from financing activities
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||||||||
Net proceeds from note payable-related party
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-
|
|
|
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9,210
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Net cash provided by financing activities
|
-
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9,210
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||||||
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|
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|
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Net decrease in cash
|
|
|
-
|
|
|
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(11,651
|
)
|
Cash, beginning
|
|
|
-
|
|
|
|
11,651
|
|
Cash, ending
|
|
$
|
-
|
|
|
$
|
-
|
|
|
|
|
|
|
|
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Supplementary information
|
|
|
|
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|
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Cash paid:
|
|
|
|
|
|
|
|
|
Interest
|
|
$
|
-
|
|
|
$
|
-
|
|
Income taxes
|
|
$
|
-
|
|
|
$
|
-
|
|
|
|
|
|
|
|
|
|
|
Non-cash Investing and Financing Activities:
|
|
|
|
|
|
|
|
|
Former related party notes and payables forgiven
|
|
$
|
-
|
|
|
$
|
93,515
|
|
Due to shareholder for payment of expenses on behalf of the Company
|
|
|
21,218
|
|
|
|
2,306
|
|
· |
our marketing plan;
|
· |
our plans to hire industry experts and expand our management team;
|
· |
our beliefs regarding the future of our competitors;
|
· |
our anticipated development schedule;
|
· |
the anticipated benefits of our product;
|
· |
our expectation that the demand for our products will eventually increase; and
|
· |
our expectation that we will be able to raise capital when we need it.
|
· |
general economic and business conditions;
|
· |
we may have product liability claims;
|
· |
we may not be successful in commercialization of our products;
|
· |
regulatory changes may hurt the market for our products;
|
· |
we may not be able to protect our intellectual property rights;
|
· |
our auditors have issued a going concern opinion regarding our company;
|
· |
competition for, among other things, capital, products and skilled personnel; and
|
· |
other factors discussed under the section entitled "Risk Factors",
|
ITEM
3.
|
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.
|
ITEM
4.
|
CONTROLS AND PROCEDURES.
|
ITEM
1A.
|
RISK FACTORS
|
ITEM
6.
|
EXHIBITS.
|
EXHIBIT
|
|
|
NUMBER
|
|
DOCUMENT DESCRIPTION
|
|
|
|
31.1
|
|
|
|
|
|
32.1
|
||
|
|
|
101.INS
|
|
XBRL Instance Document*
|
|
|
|
101.SCH
|
|
XBRL Taxonomy Extension Schema Document*
|
|
|
|
101.CAL
|
|
XBRL Taxonomy Extension Calculation Linkbase Document*
|
|
|
|
101.DEF
|
|
XBRL Taxonomy Extension Definition Linkbase Document*
|
|
|
|
101.LAB
|
|
XBRL Taxonomy Extension Label Linkbase Document*
|
|
|
|
101.PRE
|
|
XBRL Taxonomy Extension Presentation Linkbase Document*
|
|
DKG CAPITAL INC.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BY:
|
Tesheb Casimir
|
|
|
|
|
/s/
|
Tesheb Casimir
|
|
|
Principal Executive Officer
|
|
|
Principal Financial Officer and
|
|
|
Principal Accounting Officer
|
1 Year DKG Capital (CE) Chart |
1 Month DKG Capital (CE) Chart |
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