Form 10-Q - Quarterly report [Sections 13 or 15(d)]

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 10-Q

 

(Mark One)

 

☒	Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

For the quarterly period ended June 30, 2023

 

☐	Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

For the transition period from _________ to _________

 

COMMISSION FILE NUMBER 333-163439

 

WALL STREET MEDIA CO, INC.

(Exact name of registrant as specified in its charter)

 

Nevada		26-4170100
(State or other jurisdiction Of incorporation or organization)		(IRS employer identification number)

 

110 Front Street

Suite 300

Jupiter, FL 33477

(Address of principal executive offices, including zip code)

 

[phone]

(Registrant’s telephone number, including area code)

 

Securities Registered pursuant to Section 12(b) of the Act.

 

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock par value $0.001		WSCO		OTCQB

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer” “smaller reporting company” and “emerging growth company” in Rule- 12b-2 of the Exchange Act. -(Check one):

 

	Large accelerated filer	☐	Accelerated filer	☐
	Non-accelerated filer	☒	Smaller reporting company	☒
	Emerging growth company	☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

 

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

 

Class		Outstanding at August 8, 2023
Common stock, $0.001 par value		26,922,006

 

 

 

 

TABLE OF CONTENTS

 

	Page
PART I - FINANCIAL INFORMATION	1
Item 1. Financial Statements	1
Condensed Balance Sheets - Unaudited	1
Condensed Statements of Operations - Unaudited	2
Condensed Statement of Changes in Stockholders’ Deficit - Unaudited	3
Condensed Statements of Cash Flows - Unaudited	5
Notes to Condensed Financial Statements - Unaudited	6
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations	9
Item 3. Quantitative and Qualitative Disclosure About Market Risk.	11
Item 4. Controls and Procedures.	11
PART II - OTHER INFORMATION	12
Item 1. Legal Proceedings.	12
Item 1A. Risk Factors.	12
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.	12
Item 3. Defaults upon Senior Securities.	12
Item 4. Mine Safety Disclosures	12
Item 5. Other Information.	12
SIGNATURES	13

i

 

PART I - FINANCIAL INFORMATION

 

Item 1. Financial Statements

 

WALL STREET MEDIA CO, INC.

Condensed Balance Sheets

 

		June 30, 2023				September 30, 2022
		(Unaudited)
ASSETS
Current Assets
Cash		$	924			$	5,812
Accounts receivable-related party			7,450				5,000
Prepaid expenses			2,425				5,080
Total current assets			10,799				15,892
Deposits			578				578
Total Assets		$	11,377			$	16,470
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current Liabilities
Accrued interest payable – related party		$	14,188			$	8,510
Notes payable-related party			94,120				94,120
Total current liabilities			108,308				102,630
Total Liabilities			108,308				102,630
Commitments and Contingencies (Note 4)
Stockholders’ Deficit
Preferred stock, $0.001 par value; 5,000,000 authorized; none issued or outstanding			-				-
Common stock, $0.001 par value; 195,000,000 shares authorized; 26,922,006 issued and outstanding at June 30, 2023 and September 30, 2022			26,922				26,922
Additional paid-in capital			1,298,056				1,298,056
Accumulated deficit			(1,421,909	)			(1,411,138	)
Total stockholders’ deficit			(96,931	)			(86,160	)
Total Liabilities and Stockholders’ Deficit		$	11,377			$	16,470

 

The accompanying notes are an integral part of these unaudited condensed financial statements.

 

1

 

WALL STREET MEDIA CO, INC.

Condensed Statements of Operations

(Unaudited)

 

		For the three months ended								For the nine months ended
		June 30, 2023				June 30, 2022				June 30, 2023				June 30, 2022
Revenues:
Contracted services-related party		$	14,500			$	15,000			$	46,500			$	45,000
Total Revenues			14,500				15,000				46,500				45,000
Operating Expenses:
Bad debt recovery - related party			-				-				-				(10,000	)
General and administrative			4,994				4,797				16,665				15,691
Professional fees			11,680				10,476				34,928				34,265
Total Operating Expenses			16,674				15,273				51,593				39,956
Income (Loss) From Operations			(2,174	)			(273	)			(5,093	)			5,044
Other Expense
Interest expense – related party			(3,775	)			(925	)			(5,678	)			(2,776	)
Total Other Expense			(3,775	)			(925	)			(5,678	)			(2,776	)
Net income (loss)		$	(5,949	)		$	(1,198	)		$	(10,771	)		$	2,268
Net income(loss) per share - basic and diluted		$	(0.00	)		$	(0.00	)		$	(0.00	)		$	0.00
Weighted average number of common shares - Basic and Diluted			26,922,006				26,922,006				26,922,006				26,922,006

 

The accompanying notes are an integral part of these unaudited condensed financial statements

 

2

 

WALL STREET MEDIA CO., INC.

Condensed Statement of Changes in Stockholders’ Deficit

For the three and nine months ended June 30, 2022

(Unaudited)

 

		Common Stock								Additional								Total
		Shares Issued				Amount				Paid-in Capital				Accumulated Deficit				Stockholders’ Deficit
Balance at September 30, 2021			26,922,006			$	26,922				$1 ,298,056			$	(1,411,896	)		$	(86,918	)
Net income			-				-				-				6,469				6,469
Balance at December 31, 2021			26,922,006			$	26,922			$	1,298,056			$	(1,405,427	)		$	(80,449	)
Net loss			-				-				-				(3,003	)			(3,003	)
Balance at March 31, 2022			26,922,006			$	26,922			$	1,298,056			$	(1,408,430	)		$	(83,452	)
Net loss			-				-				-				(1,198	)			(1,198	)
Balance at June 30, 2022			26,922,006			$	26,922			$	1,298,056			$	(1,409,628	)		$	(84,650	)

 

3

 

WALL STREET MEDIA CO., INC.

Condensed Statement of Changes in Stockholders’ Deficit

For the three and nine months ended June 30, 2023

(Unaudited)

 

		Common Stock								Additional								Total
		Shares Issued				Amount				Paid-in Capital				Accumulated Deficit				Stockholders’ Deficit
Balance at September 30, 2022			26,922,006			$	26,922				$1 ,298,056			$	(1,411,138	)		$	(86,160	)
Net loss			-				-				-				(2,810	)			(2,810	)
Balance at December 31, 2022			26,922,006			$	26,922			$	1,298,056			$	(1,413,948	)		$	(88,970	)
Net loss			-				-				-				(2,012	)			(2,012	)
Balance at March 31, 2023			26,922,006			$	26,922			$	1,298,056			$	(1,415,960	)		$	(90,982	)
Net loss			-								-				(5,949	)			(5,949	)
Balance at June 30, 2023			26,922,006			$	26,922			$	1,298,056			$	(1,421,909	)		$	(96,931	)

 

The accompanying notes are an integral part of these unaudited condensed financial statements.

 

4

 

WALL STREET MEDIA CO, INC.

Condensed Statements of Cash Flows

(Unaudited)

 

		For the Nine				For the Nine
		Months Ended				Months Ended
		June 30, 2023				June 30, 2022
Cash flows from Operating Activities:
Net income (loss)		$	(10,771	)		$	2,268
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Changes in operating assets and liabilities:
(Increase) decrease in accounts receivable – related party			(2,450	)			5,000
(Increase) decrease in prepaid expenses			2,655				(3,890	)
Increase in accrued interest payable - related party			5,678				396
Net cash provided by (used in) operating activities			(4,888	)			3,774
Cash flows from Financing Activities:
Proceeds from notes payable – related party			-				2,620
Net cash (used in) provided by financing activities			-				2,620
Increase (decrease) in cash during the period			(4,888	)			6,394
Cash, beginning of the period			5,812				1,156
Cash, end of the period		$	924			$	7,550
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Interest paid in cash		$	0			$	2,380
Taxes paid in cash		$	-			$	-

 

The accompanying notes are an integral part of these unaudited condensed financial statements.

 

5

 

Wall Street Media Co, Inc.

Notes to Condensed Unaudited Financial Statements

June 30, 2023

 

Note 1 - Nature of Operations and Summary of Significant Accounting Policies

 

Nature of Operations

 

Wall Street Media Co, Inc. (the “Company”) was organized in the state of Nevada on January 6, 2009. Since its inception, the Company had various names until August 2013 when the name was changed to Wall Street Media Co., Inc from Bright Mountain Holdings, Inc.

 

The Company provides consulting and management services to entities looking to merge with or acquire or otherwise consult with third party entities. These services are currently provided to related parties Landmark-Pegasus, Inc.(“Landmark-Pegasus”), Skybunker, or clients of Landmark-Pegasus and Skybunker. Landmark-Pegasus and Skybunker are wholly owned by John Moroney, the Company’s majority stockholder. Mr. Moroney also acts as Landmark-Pegasus’ President.

 

Impact of COVID-19

 

In March 2020, the World Health Organization declared COVID-19 a global pandemic and recommended containment and mitigation measures worldwide. The Company is monitoring this closely, and although operations have not been materially affected by the COVID-19 outbreak to date, the ultimate duration and severity of the outbreak and its impact on the economic environment and business is uncertain. Accordingly, while the Company does not anticipate an impact to the operations, we cannot estimate the duration of the pandemic and potential impact on the business. In addition, a severe or prolonged economic downturn could result in a variety of risks to the business, including a possible delay in implementing the Company’s business plan. At this time, the Company is unable to estimate the ultimate impact of this event on its current or future operations.

 

Basis of Presentation

 

The interim unaudited condensed financial statements included herein have been prepared by the Company, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). In the opinion of the Company’s management, all adjustments (consisting of normal recurring adjustments and reclassifications and non-recurring adjustments) necessary to present fairly the results of operations and cash flows for the three and nine months ended June 30, 2023, and the financial position as of June 30, 2023, have been made. The results of operations for such interim periods are not necessarily indicative of the operating results to be expected for the full year. Certain information and disclosures normally included in the notes to the annual financial statements have been condensed or omitted from these interim condensed financial statements. Accordingly, these unaudited interim condensed financial statements should be read in conjunction with the Audited Financial Statements and Notes thereto as of and for the year ended September 30, 2022 included in our Report on Form 10-K as filed with the SEC on December 16, 2022. The September 30, 2022 balance sheet is derived from those financial statements.

 

Use of Estimates

 

The financial statements are prepared in accordance with Accounting Principles Generally Accepted in the United States (“GAAP”). These accounting principles require the Company to make certain estimates, judgments and assumptions. The Company believes that the estimates, judgments and assumptions upon which it relies are reasonable based upon information available at the time that these estimates, judgments and assumptions are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities as of the date of the financial statements as well as the reported amounts of revenues and expenses during the periods presented. The financial statements would be affected to the extent there are material differences between these estimates and actual results. In many cases, the accounting treatment of a particular transaction is specifically dictated by GAAP and does not require management’s judgment in its application. There are also areas in which management’s judgment in selecting any available alternative would not produce a materially different result. Significant estimates include the valuation allowance on deferred tax assets and collectability of accounts receivable with related party.

6

 

Wall Street Media Co, Inc.

Notes to Condensed Unaudited Financial Statements

June 30, 2023

 

Cash and Cash Equivalents

 

The Company considers financial instruments with original maturities of three months or less to be cash equivalents. The Company had no cash equivalents at June 30, 2023 or September 30, 2022.

 

Revenue Recognition

 

The Company recognized revenue using the five-step revenue recognition model as prescribed by ASC 606, “Revenue from Contracts with Customers”. The underlying principle of the standard is that a business or other organization will recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects what it expects to receive in exchange for the goods or services.

 

The Company provides consulting services currently to entities wholly owned by the Company’s majority stockholder or clients of the related entities which represents the Company’s only revenue source. The Company recognizes revenue when the performance obligation (i.e. consulting services) has been provided and the customer is satisfied. Revenue is measured as the amount of consideration the Company expects to receive in exchange for providing the service.

 

Basic and Diluted Net Income (Loss) per Common Share

 

Basic net income (loss) per share is computed by dividing the net income (loss) by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per common share is computed by dividing the net income (loss) by the weighted average number of common shares outstanding for the period and, if dilutive, potential common shares outstanding during the period. Potentially dilutive securities consist of the incremental common shares issuable upon exercise of common stock equivalents such as stock options and convertible debt instruments. Potentially dilutive securities are excluded from the computation if their effect is anti-dilutive. There were no potentially dilutive securities outstanding at June 30, 2023 or 2022.

 

7

 

Wall Street Media Co, Inc.

Notes to Condensed Unaudited Financial Statements

June 30, 2023

 

Note 2 - Going Concern

 

As reflected in the accompanying condensed financial statements, for the nine month period ended June 30, 2023 the Company generated a net loss of $10,771 and used cash in operations of $3,793. At June 30, 2023, the Company has a working capital deficit of $97,509. The foregoing raises substantial doubt about the Company’s ability to continue as a going concern for a period of one year from the issuance date of these financial statements. The financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to implement its business plan and continue as a going concern. In addition, the Company is actively seeking investor funding.

 

Note 3 – Related Party Transactions

 

During the nine months ended June 30, 2023 and 2022, $46,500 and $45,000, respectively, of the Company’s revenues was derived from consulting services provided to Landmark-Pegasus and Skybunker, entities wholly owned by the Company’s majority stockholder or clients of these entities. As of June 30, 2023 and September 30, 2022, $7,450 and $5,000, respectively, of those services remain due from this related party and have been presented as accounts receivable – related party on the accompanying condensed balance sheet.

 

During the nine months ended June 30, 2022, the Company recovered a $10,000 bad debt that had been allowed for during the year ended September 30, 2021 and included in the accounts receivable allowance as of September 30, 2021, related to services provided to a related party during the year ended September 30, 2021. This bad debt recovery has been reflected on the condensed statement of operations.

 

The Company has notes payable with Landmark-Pegasus, an entity wholly owned by the Company’s majority stockholder, that accrues interest at an annual rate of 4%, and are payable on demand. The balance on the notes is $94,120 at June 30, 2023 and at September 30, 2022. At June 30, 2023 and September 30, 2022 total interest accrued on the notes payable was $14,188 and $8,510, respectively. Balances are presented as notes payable – related party and accrued interest payable – related party, respectively, on the accompanying condensed balance sheets. During the three months ended June 30, 2023 and 2022, interest expense on the notes was $3,775 and $925, respectively, as presented on the accompanying condensed statement of operations as interest expense - related party. During the nine months ended June 30, 2023 and 2022, interest expense on the notes was $5,678 and $2,776, respectively, as presented on the accompanying condensed statement of operations as interest expense – related party.

 

Note 4 – Commitments and Contingencies

 

From time to time, the Company may be involved in asserted claims arising out of the Company’s operations in the normal course of business. At June 30, 2023, there were no pending or threatened lawsuits that could reasonably be expected to have a material effect on the Company’s results of operations.

 

8

 

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

 

FORWARD-LOOKING STATEMENTS

 

There are statements in this quarterly report on Form 10-Q that are not historical facts. These “forward-looking statements” can be identified by use of terminology such as “believe”, “hope”, “may”, “anticipate”, “should”, “intend”, “plan”, “will”, “expect”, “estimate”, “project”, “positioned”, “strategy”, and similar expressions. Although management believes that the assumptions underlying the forward-looking statements included in this quarterly Report are reasonable, they do not guarantee our future performance, and are subject to certain risks, uncertainties and assumptions that are difficult to predict; therefore, actual results and outcomes may differ materially from what is expressed or forecasted in any such forward-looking statements.

 

OVERVIEW

 

Wall Street Media Co, Inc. was organized in the state of Nevada on January 6, 2009. Since  its inception, the Company had various names until August 2013 when the name changed to Wall Street Media Co., Inc. from Bright Mountain Holdings, Inc.

 

The Company provides consulting and management services to entities looking to merge with or acquire or otherwise consult with third party entities. These services are currently provided to Landmark-Pegasus, Inc., a

related party (“Landmark-Pegasus”) or its clients. Landmark-Pegasus is wholly owned by John Moroney, the Company’s majority stockholder. Mr. Moroney also acts as Landmark-Pegasus’ President.

 

Impact of COVID-19

 

In March 2020, the World Health Organization declared COVID-19 a global pandemic and recommended containment and mitigation measures worldwide. The Company is monitoring this closely, and although operations have not been materially affected by the COVID-19 outbreak to date, the ultimate duration and severity of the outbreak and its impact on the economic environment and business is uncertain. Accordingly, while the Company does not anticipate an impact to the operations, we cannot estimate the duration of the pandemic and potential impact on the business. In addition, a severe or prolonged economic downturn could result in a variety of risks to the business, including a possible delay in implementing the Company’s business plan. At this time, the Company is unable to estimate the ultimate impact of this event on its current or future operations.

 

9

 

Critical Accounting Policies

 

In response to the Securities and Exchange Commission’s (the “SEC”) financial reporting release, FR-60, Cautionary Advice Regarding Disclosure About Critical Accounting Policies, the Company has selected its more subjective accounting estimation processes for purposes of explaining the methodology used in calculating the estimate, in addition to the inherent uncertainties pertaining to the estimate and the possible effects on the Company’s financial condition. These accounting estimates are discussed below. These estimates involve certain assumptions that if incorrect could create a material adverse impact on the Company’s results of operations and financial condition.

 

Revenue Recognition

 

The Company recognized revenue using the five-step revenue recognition model as prescribed by ASC 606, “Revenue from Contracts with Customers”. The underlying principle of new standard is that a business or other organization will recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects what it expects to receive in exchange for the goods or services.

 

The Company provides consulting services currently to entities wholly owned by the Company’s majority stockholder or the related entity’s clients which represent the Company’s only revenue source. The Company recognizes revenue when the performance obligation (i.e. consulting services) has been provided and the customer is satisfied. Revenue is measured as the amount of consideration the Company expects to receive in exchange for providing the service.

 

RESULTS OF OPERATIONS

 

FOR THE THREE MONTHS ENDED JUNE 30, 2023 COMPARED TO THE THREE MONTHS ENDED JUNE 30, 2022

 

Revenue: The Company’s revenues decreased by approximately 3 % to $14,500 during the three months ended June 30, 2023 as compared to $15,000 for the three months ended June 30, 2022 due to a decrease in consulting services provided.

 

Operating Expenses: The Company’s operating expenses increased by approximately 9% to $16,674 during the three months ended June 30, 2023 as compared to $15,273 for the three months ended June 30, 2022 primarily due to an increase in professional fees.

 

Loss from operations: The Company’s loss from operations increased approximately 696% to $2,174 during the three months ended June 30, 2023 from a loss from operations of $273 for the three months ended June 30, 2022. The primary reason for this was due to an increase in professional fees.

 

FOR THE NINE MONTHS ENDED JUNE 30, 2023 COMPARED TO THE NINE MONTHS ENDED JUNE 30, 2022

 

Revenue: The Company’s revenues increased approximately 3% to $46,500 during the nine months ended June 30, 2023 as compared to $45,000 for the nine months ended June 30, 2022 due to an increase in consulting services provided.

 

Operating Expenses: The Company’s operating expenses increased by approximately 29% to $51,593 during the nine months ended June 30, 2023 as compared to $39,956 for the nine months ended June 30, 2022 primarily due to the bad debt expense recovery of $10,000 in 2022.

 

Income from operations: The Company’s income from operations decreased approximately 199% to a loss from operations of $5,093 during the nine months ended June 30, 2023 from income from operations of $5,044 for the nine months ended June 30, 2022. The primary reason for this was due to the bad debt expense recovery of $10,000 in 2022.

 

LIQUIDITY AND CAPITAL RESOURCES

 

Net cash used in operating activities was $4,888 for the nine months ended June 30, 2023 as compared to net cash provided by operating activities of $3,774 for the nine months ended June 30, 2022. The decrease was primarily due to the bad debt recovery from a related party.

 

As of June 30, 2023, the Company had $924 in cash. The Company has sustained losses from operations, and such losses are expected to continue. The Company’s auditors have included a “Going Concern Qualification” in their report for the year ended September 30, 2022. In addition, the Company has a working capital deficit at June 30, 2023 of $97,509 with minimal revenues. The foregoing raises substantial doubt about the Company’s ability to continue as a going concern. The Company is actively seeking to combine or merge with another operating company. There can be no assurance that the level of funding needed will be acquired or that the Company will generate sufficient revenues to sustain operations for the next twelve months. The unaudited condensed financial statements do not include any adjustments that might result from the outcome of this uncertainty.

 

10

 

RELATED PERSON TRANSACTIONS

 

100% of the Company’s revenues for the three and nine months ended June 30, 2023 and 2022 were generated by entities wholly owned by the Company’s majority shareholder or the related entity’s clients.

 

OFF-BALANCE SHEET ARRANGEMENTS

 

We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources, that is material to investors.

 

Item 3. Quantitative and Qualitative Disclosure About Market Risk.

 

Not applicable to smaller reporting companies.

 

Item 4. Controls and Procedures.

 

Evaluation of Disclosure Controls and Procedures: An evaluation was conducted by the registrant’s principal executive officer and principal financial officer of the effectiveness of the design and operation of the registrant’s disclosure controls and procedures as of June 30, 2023. Based on that evaluation, the principal executive officer and principal financial officer concluded that the registrant’s controls and procedures were not effective as of such date to ensure that information required to be disclosed in the reports that the registrant files or submits under the Securities Exchange Act of 1934, as amended (a) is recorded, processed, summarized and reported within the time periods specified in Securities and Exchange Commission rules and forms, and (b) is accumulated and communicated to the Company’s management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure. If the registrant develops new business or engages or hires a chief financial officer or similar financial expert, the registrant intends to review its disclosure controls and procedures.

 

Management is aware that there is a lack of segregation of duties due to the small number of employees dealing with general administrative and financial matters.

 

Changes in Internal Control Over Financial Reporting: There was no change in the registrant’s internal control over financial reporting identified in connection with the evaluation required by paragraph (d) of Rule 13a–15 or Rule 15d–15 under the Securities Exchange Act of 1934 that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

 

11

 

PART II- OTHER INFORMATION

 

Item 1. Legal Proceedings.

 

None

 

Item 1A. Risk Factors.

 

Not applicable to smaller reporting companies .

 

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

 

None

 

Item 3. Defaults upon Senior Securities.

 

None

 

Item 4. Mine Safety Disclosures

 

Not Applicable

 

Item 5. Other Information.

 

None.

 

Item 6. Exhibits

 

(a) Exhibits

 

EXHIBIT NO.		DESCRIPTION
31.1		Section 302 Certification of Principal Executive Officer and Principal Financial Officer
32.1		Section 906 Certification
101. INS*		Inline XBRL Instance Document
101.SCH*		Inline XBRL Taxonomy Extension Schema Document
101.CAL*		Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF*		Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LAB*		Inline XBRL Taxonomy Extension Labels Linkbase Document
101.PRE*		Inline XBRL Taxonomy Extension Presentation Linkbase Document
104*		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).

 

12

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

	Wall Street Media Co, Inc.
Date: August 8, 2023	By:	/s/ Jeffrey A. Lubchansky
		Jeffrey A. Lubchansky
		President and Chief Executive Officer (principal executive officer and principal financial officer)

 

13

 

EXHIBIT 31.1

 

CERTIFICATIONS

 

I, Jeffrey A. Lubchansky, certify that:

 

1. I have reviewed this quarterly report on Form 10-Q for the quarter ended June 30, 2023 of Wall Street Media Co, Inc.;

 

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

 

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

 

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

 

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

Date: August 8, 2023	By:	/s/ Jeffrey A. Lubchansky
		Jeffrey A. Lubchansky
		Chief Executive Officer and President (principal executive officer and principal financial officer)

 

 

EXHIBIT 32.1

 

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

In connection with the Quarterly Report of Wall Street Media Co, Inc. (the “Company”) on Form 10-Q for the quarterly period ended June 30, 2023 (the “Report”) I, Jeffrey A. Lubchansky, Chief Executive Officer and President of the Company, certify, pursuant to 18 USC Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge and belief:

 

	(1)	The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
	(2)	The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

Date: August 8, 2023	By:	/s/ Jeffrey A. Lubchansky
		Jeffrey A. Lubchansky
		Chief Executive Officer and President (principal executive officer and principal financial officer)

 

This certification accompanies the Report pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not, except to the extent required by the Sarbanes-Oxley Act of 2002, be deemed filed by the Company for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.

 

Cover - shares	9 Months Ended
	Jun. 30, 2023	Aug. 08, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2023
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--09-30
Entity File Number	333-163439
Entity Registrant Name	WALL STREET MEDIA CO, INC.
Entity Central Index Key	0001473490
Entity Tax Identification Number	26-4170100
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	110 Front Street
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Jupiter
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33477
City Area Code	(561)
Local Phone Number	240-0333
Title of 12(b) Security	Common Stock par value $0.001
Trading Symbol	WSCO
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		26,922,006

Condensed Balance Sheets - USD ($)	Jun. 30, 2023	Sep. 30, 2022
Current Assets
Cash	$ 924	$ 5,812
Accounts receivable-related party	7,450	5,000
Prepaid expenses	2,425	5,080
Total current assets	10,799	15,892
Deposits	578	578
Total Assets	11,377	16,470
Current Liabilities
Accrued interest payable – related party	14,188	8,510
Notes payable-related party	94,120	94,120
Total current liabilities	108,308	102,630
Total Liabilities	108,308	102,630
Commitments and Contingencies (Note 4)
Stockholders’ Deficit
Preferred stock, $0.001 par value; 5,000,000 authorized; none issued or outstanding
Common stock, $0.001 par value; 195,000,000 shares authorized; 26,922,006 issued and outstanding at June 30, 2023 and September 30, 2022	26,922	26,922
Additional paid-in capital	1,298,056	1,298,056
Accumulated deficit	(1,421,909)	(1,411,138)
Total stockholders’ deficit	(96,931)	(86,160)
Total Liabilities and Stockholders’ Deficit	$ 11,377	$ 16,470

Condensed Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2023	Sep. 30, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	195,000,000	195,000,000
Common stock, shares issued	26,922,006	26,922,006
Common stock, shares outstanding	26,922,006	26,922,006

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues:
Contracted services-related party	$ 14,500	$ 15,000	$ 46,500	$ 45,000
Total Revenues	14,500	15,000	46,500	45,000
Operating Expenses:
Bad debt recovery - related party				(10,000)
General and administrative	4,994	4,797	16,665	15,691
Professional fees	11,680	10,476	34,928	34,265
Total Operating Expenses	16,674	15,273	51,593	39,956
Income (Loss) From Operations	(2,174)	(273)	(5,093)	5,044
Other Expense
Interest expense – related party	(3,775)	(925)	(5,678)	(2,776)
Total Other Expense	(3,775)	(925)	(5,678)	(2,776)
Net income (loss)	$ (5,949)	$ (1,198)	$ (10,771)	$ 2,268
Net income (loss) per share - basic	$ (0.00)	$ (0.00)	$ (0.00)	$ 0.00
Net income (loss) per share - diluted	$ (0.00)	$ (0.00)	$ (0.00)	$ 0.00
Weighted average number of common shares - Basic	26,922,006	26,922,006	26,922,006	26,922,006
Weighted average number of common shares - Diluted	26,922,006	26,922,006	26,922,006	26,922,006

Condensed Statement of Changes in Stockholders' Deficit (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Sep. 30, 2021	$ 26,922	$ 1	$ (1,411,896)	$ (86,918)
Beginning balance, shares at Sep. 30, 2021	26,922,006
Net income (loss)			6,469	6,469
Ending balance, value at Dec. 31, 2021	$ 26,922	1,298,056	(1,405,427)	(80,449)
Ending balance, shares at Dec. 31, 2021	26,922,006
Beginning balance, value at Sep. 30, 2021	$ 26,922	1	(1,411,896)	(86,918)
Beginning balance, shares at Sep. 30, 2021	26,922,006
Net income (loss)				2,268
Ending balance, value at Jun. 30, 2022	$ 26,922	1,298,056	(1,409,628)	(84,650)
Ending balance, shares at Jun. 30, 2022	26,922,006
Beginning balance, value at Dec. 31, 2021	$ 26,922	1,298,056	(1,405,427)	(80,449)
Beginning balance, shares at Dec. 31, 2021	26,922,006
Net income (loss)			(3,003)	(3,003)
Ending balance, value at Mar. 31, 2022	$ 26,922	1,298,056	(1,408,430)	(83,452)
Ending balance, shares at Mar. 31, 2022	26,922,006
Net income (loss)			(1,198)	(1,198)
Ending balance, value at Jun. 30, 2022	$ 26,922	1,298,056	(1,409,628)	(84,650)
Ending balance, shares at Jun. 30, 2022	26,922,006
Beginning balance, value at Sep. 30, 2022	$ 26,922	1	(1,411,138)	(86,160)
Beginning balance, shares at Sep. 30, 2022	26,922,006
Net income (loss)			(2,810)	(2,810)
Ending balance, value at Dec. 31, 2022	26,922	1,298,056	(1,413,948)	(88,970)
Beginning balance, value at Sep. 30, 2022	$ 26,922	1	(1,411,138)	(86,160)
Beginning balance, shares at Sep. 30, 2022	26,922,006
Net income (loss)				(10,771)
Ending balance, value at Jun. 30, 2023	$ 26,922	1,298,056	(1,421,909)	(96,931)
Ending balance, shares at Jun. 30, 2023	26,922,006
Beginning balance, value at Dec. 31, 2022	$ 26,922	1,298,056	(1,413,948)	(88,970)
Net income (loss)			(2,012)	(2,012)
Ending balance, value at Mar. 31, 2023	$ 26,922	1,298,056	(1,415,960)	(90,982)
Ending balance, shares at Mar. 31, 2023	26,922,006
Net income (loss)			(5,949)	(5,949)
Ending balance, value at Jun. 30, 2023	$ 26,922	$ 1,298,056	$ (1,421,909)	$ (96,931)
Ending balance, shares at Jun. 30, 2023	26,922,006

Condensed Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from Operating Activities:
Net income (loss)	$ (10,771)	$ 2,268
Changes in operating assets and liabilities:
(Increase) decrease in accounts receivable – related party	(2,450)	5,000
(Increase) decrease in prepaid expenses	2,655	(3,890)
Increase in accrued interest payable - related party	5,678	396
Net cash provided by (used in) operating activities	(4,888)	3,774
Cash flows from Financing Activities:
Proceeds from notes payable – related party		2,620
Net cash (used in) provided by financing activities		2,620
Increase (decrease) in cash during the period	(4,888)	6,394
Cash, beginning of the period	5,812	1,156
Cash, end of the period	924	7,550
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Interest paid in cash	0	2,380
Taxes paid in cash

Nature of Operations and Summary of Significant Accounting Policies	9 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Nature of Operations and Summary of Significant Accounting Policies	Note 1 - Nature of Operations and Summary of Significant Accounting Policies   Nature of Operations   Wall Street Media Co, Inc. (the “Company”) was organized in the state of Nevada on January 6, 2009. Since its inception, the Company had various names until August 2013 when the name was changed to Wall Street Media Co., Inc from Bright Mountain Holdings, Inc.   The Company provides consulting and management services to entities looking to merge with or acquire or otherwise consult with third party entities. These services are currently provided to related parties Landmark-Pegasus, Inc.(“Landmark-Pegasus”), Skybunker, or clients of Landmark-Pegasus and Skybunker. Landmark-Pegasus and Skybunker are wholly owned by John Moroney, the Company’s majority stockholder. Mr. Moroney also acts as Landmark-Pegasus’ President.   Impact of COVID-19   In March 2020, the World Health Organization declared COVID-19 a global pandemic and recommended containment and mitigation measures worldwide. The Company is monitoring this closely, and although operations have not been materially affected by the COVID-19 outbreak to date, the ultimate duration and severity of the outbreak and its impact on the economic environment and business is uncertain. Accordingly, while the Company does not anticipate an impact to the operations, we cannot estimate the duration of the pandemic and potential impact on the business. In addition, a severe or prolonged economic downturn could result in a variety of risks to the business, including a possible delay in implementing the Company’s business plan. At this time, the Company is unable to estimate the ultimate impact of this event on its current or future operations.   Basis of Presentation   The interim unaudited condensed financial statements included herein have been prepared by the Company, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). In the opinion of the Company’s management, all adjustments (consisting of normal recurring adjustments and reclassifications and non-recurring adjustments) necessary to present fairly the results of operations and cash flows for the three and nine months ended June 30, 2023, and the financial position as of June 30, 2023, have been made. The results of operations for such interim periods are not necessarily indicative of the operating results to be expected for the full year. Certain information and disclosures normally included in the notes to the annual financial statements have been condensed or omitted from these interim condensed financial statements. Accordingly, these unaudited interim condensed financial statements should be read in conjunction with the Audited Financial Statements and Notes thereto as of and for the year ended September 30, 2022 included in our Report on Form 10-K as filed with the SEC on December 16, 2022. The September 30, 2022 balance sheet is derived from those financial statements.   Use of Estimates   The financial statements are prepared in accordance with Accounting Principles Generally Accepted in the United States (“GAAP”). These accounting principles require the Company to make certain estimates, judgments and assumptions. The Company believes that the estimates, judgments and assumptions upon which it relies are reasonable based upon information available at the time that these estimates, judgments and assumptions are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities as of the date of the financial statements as well as the reported amounts of revenues and expenses during the periods presented. The financial statements would be affected to the extent there are material differences between these estimates and actual results. In many cases, the accounting treatment of a particular transaction is specifically dictated by GAAP and does not require management’s judgment in its application. There are also areas in which management’s judgment in selecting any available alternative would not produce a materially different result. Significant estimates include the valuation allowance on deferred tax assets and collectability of accounts receivable with related party.   Wall Street Media Co, Inc. Notes to Condensed Unaudited Financial Statements June 30, 2023   Cash and Cash Equivalents   The Company considers financial instruments with original maturities of three months or less to be cash equivalents. The Company had no cash equivalents at June 30, 2023 or September 30, 2022.   Revenue Recognition   The Company recognized revenue using the five-step revenue recognition model as prescribed by ASC 606, “Revenue from Contracts with Customers”. The underlying principle of the standard is that a business or other organization will recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects what it expects to receive in exchange for the goods or services.   The Company provides consulting services currently to entities wholly owned by the Company’s majority stockholder or clients of the related entities which represents the Company’s only revenue source. The Company recognizes revenue when the performance obligation (i.e. consulting services) has been provided and the customer is satisfied. Revenue is measured as the amount of consideration the Company expects to receive in exchange for providing the service.   Basic and Diluted Net Income (Loss) per Common Share   Basic net income (loss) per share is computed by dividing the net income (loss) by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per common share is computed by dividing the net income (loss) by the weighted average number of common shares outstanding for the period and, if dilutive, potential common shares outstanding during the period. Potentially dilutive securities consist of the incremental common shares issuable upon exercise of common stock equivalents such as stock options and convertible debt instruments. Potentially dilutive securities are excluded from the computation if their effect is anti-dilutive. There were no potentially dilutive securities outstanding at June 30, 2023 or 2022.     Wall Street Media Co, Inc. Notes to Condensed Unaudited Financial Statements June 30, 2023

Going Concern	9 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern	Note 2 - Going Concern   As reflected in the accompanying condensed financial statements, for the nine month period ended June 30, 2023 the Company generated a net loss of $10,771 and used cash in operations of $3,793. At June 30, 2023, the Company has a working capital deficit of $97,509. The foregoing raises substantial doubt about the Company’s ability to continue as a going concern for a period of one year from the issuance date of these financial statements. The financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to implement its business plan and continue as a going concern. In addition, the Company is actively seeking investor funding.

Related Party Transactions	9 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Note 3 – Related Party Transactions   During the nine months ended June 30, 2023 and 2022, $46,500 and $45,000, respectively, of the Company’s revenues was derived from consulting services provided to Landmark-Pegasus and Skybunker, entities wholly owned by the Company’s majority stockholder or clients of these entities. As of June 30, 2023 and September 30, 2022, $7,450 and $5,000, respectively, of those services remain due from this related party and have been presented as accounts receivable – related party on the accompanying condensed balance sheet.   During the nine months ended June 30, 2022, the Company recovered a $10,000 bad debt that had been allowed for during the year ended September 30, 2021 and included in the accounts receivable allowance as of September 30, 2021, related to services provided to a related party during the year ended September 30, 2021. This bad debt recovery has been reflected on the condensed statement of operations.   The Company has notes payable with Landmark-Pegasus, an entity wholly owned by the Company’s majority stockholder, that accrues interest at an annual rate of 4%, and are payable on demand. The balance on the notes is $94,120 at June 30, 2023 and at September 30, 2022. At June 30, 2023 and September 30, 2022 total interest accrued on the notes payable was $14,188 and $8,510, respectively. Balances are presented as notes payable – related party and accrued interest payable – related party, respectively, on the accompanying condensed balance sheets. During the three months ended June 30, 2023 and 2022, interest expense on the notes was $3,775 and $925, respectively, as presented on the accompanying condensed statement of operations as interest expense - related party. During the nine months ended June 30, 2023 and 2022, interest expense on the notes was $5,678 and $2,776, respectively, as presented on the accompanying condensed statement of operations as interest expense – related party.

Commitments and Contingencies	9 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 4 – Commitments and Contingencies   From time to time, the Company may be involved in asserted claims arising out of the Company’s operations in the normal course of business. At June 30, 2023, there were no pending or threatened lawsuits that could reasonably be expected to have a material effect on the Company’s results of operations.

Nature of Operations and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Nature of Operations	Nature of Operations   Wall Street Media Co, Inc. (the “Company”) was organized in the state of Nevada on January 6, 2009. Since its inception, the Company had various names until August 2013 when the name was changed to Wall Street Media Co., Inc from Bright Mountain Holdings, Inc.   The Company provides consulting and management services to entities looking to merge with or acquire or otherwise consult with third party entities. These services are currently provided to related parties Landmark-Pegasus, Inc.(“Landmark-Pegasus”), Skybunker, or clients of Landmark-Pegasus and Skybunker. Landmark-Pegasus and Skybunker are wholly owned by John Moroney, the Company’s majority stockholder. Mr. Moroney also acts as Landmark-Pegasus’ President.
Impact of COVID-19	Impact of COVID-19   In March 2020, the World Health Organization declared COVID-19 a global pandemic and recommended containment and mitigation measures worldwide. The Company is monitoring this closely, and although operations have not been materially affected by the COVID-19 outbreak to date, the ultimate duration and severity of the outbreak and its impact on the economic environment and business is uncertain. Accordingly, while the Company does not anticipate an impact to the operations, we cannot estimate the duration of the pandemic and potential impact on the business. In addition, a severe or prolonged economic downturn could result in a variety of risks to the business, including a possible delay in implementing the Company’s business plan. At this time, the Company is unable to estimate the ultimate impact of this event on its current or future operations.
Basis of Presentation	Basis of Presentation   The interim unaudited condensed financial statements included herein have been prepared by the Company, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). In the opinion of the Company’s management, all adjustments (consisting of normal recurring adjustments and reclassifications and non-recurring adjustments) necessary to present fairly the results of operations and cash flows for the three and nine months ended June 30, 2023, and the financial position as of June 30, 2023, have been made. The results of operations for such interim periods are not necessarily indicative of the operating results to be expected for the full year. Certain information and disclosures normally included in the notes to the annual financial statements have been condensed or omitted from these interim condensed financial statements. Accordingly, these unaudited interim condensed financial statements should be read in conjunction with the Audited Financial Statements and Notes thereto as of and for the year ended September 30, 2022 included in our Report on Form 10-K as filed with the SEC on December 16, 2022. The September 30, 2022 balance sheet is derived from those financial statements.
Use of Estimates	Use of Estimates   The financial statements are prepared in accordance with Accounting Principles Generally Accepted in the United States (“GAAP”). These accounting principles require the Company to make certain estimates, judgments and assumptions. The Company believes that the estimates, judgments and assumptions upon which it relies are reasonable based upon information available at the time that these estimates, judgments and assumptions are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities as of the date of the financial statements as well as the reported amounts of revenues and expenses during the periods presented. The financial statements would be affected to the extent there are material differences between these estimates and actual results. In many cases, the accounting treatment of a particular transaction is specifically dictated by GAAP and does not require management’s judgment in its application. There are also areas in which management’s judgment in selecting any available alternative would not produce a materially different result. Significant estimates include the valuation allowance on deferred tax assets and collectability of accounts receivable with related party.   Wall Street Media Co, Inc. Notes to Condensed Unaudited Financial Statements June 30, 2023
Cash and Cash Equivalents	Cash and Cash Equivalents   The Company considers financial instruments with original maturities of three months or less to be cash equivalents. The Company had no cash equivalents at June 30, 2023 or September 30, 2022.
Revenue Recognition	Revenue Recognition   The Company recognized revenue using the five-step revenue recognition model as prescribed by ASC 606, “Revenue from Contracts with Customers”. The underlying principle of the standard is that a business or other organization will recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects what it expects to receive in exchange for the goods or services.   The Company provides consulting services currently to entities wholly owned by the Company’s majority stockholder or clients of the related entities which represents the Company’s only revenue source. The Company recognizes revenue when the performance obligation (i.e. consulting services) has been provided and the customer is satisfied. Revenue is measured as the amount of consideration the Company expects to receive in exchange for providing the service.
Basic and Diluted Net Income (Loss) per Common Share	Basic and Diluted Net Income (Loss) per Common Share   Basic net income (loss) per share is computed by dividing the net income (loss) by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per common share is computed by dividing the net income (loss) by the weighted average number of common shares outstanding for the period and, if dilutive, potential common shares outstanding during the period. Potentially dilutive securities consist of the incremental common shares issuable upon exercise of common stock equivalents such as stock options and convertible debt instruments. Potentially dilutive securities are excluded from the computation if their effect is anti-dilutive. There were no potentially dilutive securities outstanding at June 30, 2023 or 2022.

Nature of Operations and Summary of Significant Accounting Policies (Details Narrative) - USD ($)	9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Sep. 30, 2022
Accounting Policies [Abstract]
Cash equivalents	$ 0		$ 0
Potentially dilutive securities outstanding	0	0

Going Concern (Details Narrative) - USD ($)	3 Months Ended						9 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2023	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss	$ 5,949	$ 2,012	$ 2,810	$ 1,198	$ 3,003	$ (6,469)	$ 10,771	$ (2,268)
Cash used in operations							3,793
Working capital	$ 97,509						$ 97,509

Related Party Transactions (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Sep. 30, 2022
Related Party Transaction [Line Items]
Revenue derived from a related party			$ 46,500	$ 45,000
Accounts receivable from related parties	$ 7,450		7,450		$ 5,000
Bad debt recovered during the period				10,000
Related party notes payable	94,120		94,120		94,120
Interest accrued in notes payable	14,188		14,188		$ 8,510
Interest expense-related party	$ 3,775	$ 925	$ 5,678	$ 2,776
Landmark-Pegasus [Member]
Related Party Transaction [Line Items]
Accrued interest rate	4.00%		4.00%

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