Florida
(State or other jurisdiction of incorporation or organization)
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27-4601693
(I.R.S. Employer Identification Number)
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Large accelerated filer [ ]
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Accelerated filer [ ]
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Non-accelerated filer [ ]
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Smaller reporting company [X]
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(Do not check if smaller reporting company)
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Emerging growth company [ ]
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PAGE
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PART I. FINANCIAL INFORMATION
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3
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Item 1. Financial Statements (unaudited)
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3
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Balance Sheets
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3
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Statements of Operations
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4
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Statements of Cash Flows
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7
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Notes to Unaudited Interim Financial Statements
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8 |
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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
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12
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Item 3. Quantitative and Qualitative Disclosures About Market Risk
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14
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Item 4. Controls and Procedures
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14
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PART II. OTHER INFORMATION
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15
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Item 1. Legal Proceedings
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15
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Item 1A. Risk Factors
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15
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Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
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15
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Item 3. Defaults Upon Senior Securities
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15
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Item 4. Mine Safety Disclosures
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15
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Item 5. Other Information
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15
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Item 6. Exhibits
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16
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SIGNATURES
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17
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ASTIKA HOLDINGS, INC.
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||||||||
BALANCE SHEETS
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||||||||
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March 31,
2019
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December 31,
2018
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||||||
(Unaudited)
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(Audited)
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|||||||
ASSETS | ||||||||
Cash
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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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-
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$
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-
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||||
LIABILITIES AND STOCKHOLDERS’ DEFICIT
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||||||||
Current Liabilities
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||||||||
Accounts payable and accrued liabilities
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$
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90,383
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$
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115,325
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||||
Loan payable and accrued interest
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3,608
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3,589
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||||||
Due to related party
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36,107
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5,807
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||||||
Total Current Liabilities
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130,098
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124,721
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||||||
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||||||||
Stockholders' Deficit
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||||||||
Preferred Stock: 10,000,000 shares authorized; par value $0.001; 2,090,000 shares
issued and outstanding as of March 31, 2019 and December 31, 2018
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2,090
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2,090
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||||||
Common Stock: 140,000,000 shares authorized; par value $0.001; 29,890,066 shares issued
and outstanding as of March 31, 2019 and December 31, 2018
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29,890
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29,890
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||||||
Additional paid-in capital less Pref B issuing costs
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471,595
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471,595
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Accumulated deficit
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(633,673
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)
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(628,296
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)
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Total Stockholders’ Deficit
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(130,098
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)
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(124,721
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)
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TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT
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$
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-
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$
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-
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ASTIKA HOLDINGS, INC.
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||||||||
STATEMENTS OF OPERATIONS
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||||||||
(UNAUDITED)
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||||||||
For The
Three Months Ended |
||||||||
March 31,
2019
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March 31,
2018
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|||||||
REVENUE
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||||||||
Revenue |
$
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-
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$
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-
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TOTAL REVENUE
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-
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-
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OPERATING EXPENSES
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||||||||
General and administrative |
5,359
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11,617
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||||||
Total Operating Expenses
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5,359
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11,617
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OPERATING LOSS
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(5,359
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)
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(11,617
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)
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OTHER EXPENSE
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||||||||
Interest expense, net |
(18
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)
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(17
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)
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Total Other Expense
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(18
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)
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(17
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)
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NET LOSS
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$
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(5,377
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)
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$
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(11,634
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)
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BASIC AND DILUTED NET LOSS PER COMMON SHARE |
$
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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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BASIC AND DILUTED WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING
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29,890,066
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29,890,066
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ASTIKA HOLDINGS, INC.
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STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT
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FOR THE THREE MONTHS ENDED MARCH 31, 2019
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||||||||||||||||||||||||||||
(UNAUDITED)
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||||||||||||||||||||||||||||
Preferred Stock
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Common Stock
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Additional
Paid In
Capital
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Accumulated
(Deficit)
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Total
Stockholders’
Deficit
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||||||||||||||||||||||||
Shares
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Amount
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Shares
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Amount
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|||||||||||||||||||||||||
Balance at December 31, 2018
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2,090,000
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$
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2,090
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29,890,066
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$
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29,890
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$
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471,595
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$
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(628,296
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)
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$
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(124,721
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)
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Net loss
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(5,377
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)
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(5,377
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)
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Balance at March 31, 2019
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2,090,000
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$
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2,090
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29,890,066
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$
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29,890
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$
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471,595
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$
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(633,673
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)
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$
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(130,098
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)
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ASTIKA HOLDINGS, INC.
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||||||||||||||||||||||||||||
STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT
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||||||||||||||||||||||||||||
FOR THE THREE MONTHS ENDED MARCH 31, 2018
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||||||||||||||||||||||||||||
(UNAUDITED)
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||||||||||||||||||||||||||||
Preferred Stock
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Common Stock
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Additional
Paid In
Capital
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Accumulated
(Deficit)
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Total
Stockholders’
Deficit
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||||||||||||||||||||||||
Shares
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Amount
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Shares
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Amount
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|||||||||||||||||||||||||
Balance at December 31, 2017
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2,090,000
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$
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2,090
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29,890,066
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$
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29,890
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$
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471,595
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$
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(572,775
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)
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$
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(69,200
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)
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Net loss
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(11,634
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)
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(11,634
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)
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Balance at March 31, 2018
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2,090,000
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$
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2,090
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29,890,066
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$
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29,890
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$
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471,595
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$
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(584,409
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)
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$
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(80,834
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)
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ASTIKA HOLDINGS, INC.
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STATEMENTS OF CASH FLOWS
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(UNAUDITED)
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For The Three Months
Ended
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||||||||
March 31,
2019
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March 31,
2018
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CASH FLOWS FROM OPERATING ACTIVITIES
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||||||||
Net loss
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$
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(5,377
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)
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$
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(11,634
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)
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Adjustments to reconcile net loss to net cash used in
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||||||||
Changes in Operating assets & liabilities
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||||||||
(Increase) decrease in prepaid expenses
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-
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42,101
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||||||
Increase (decrease) in accounts payable and accrued liabilities
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(24,923
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)
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1,226
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|||||
Net Cash Provided by (Used in) Operating Activities
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(30,300
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)
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31,693
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CASH FLOWS FROM FINANCING ACTIVITIES
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||||||||
Payback to related party
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-
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(42,101
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)
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Due to releted party
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30,300
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10,408
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Common shares issued for cash
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-
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|||||||
Net cash provided by (Used in) Financing Activities
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30,300
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(31,693
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)
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|||||
NET INCREASE IN CASH
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-
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-
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CASH AT BEGINNING OF PERIOD
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-
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-
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CASH AT END OF PERIOD
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$
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-
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$
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-
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CASH PAID FOR:
|
||||||||
Interest
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$
|
-
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$
|
-
|
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Income taxes
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$
|
-
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$
|
-
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▪
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We will create a position to segregate duties consistent with control objectives and will increase
our personnel resources and technical accounting expertise within the accounting function when funds are available to us. And, we plan to appoint one or more outside directors to an audit committee resulting in a fully functioning audit
committee, which will undertake the oversight in the establishment and monitoring of required internal controls and procedures, such as reviewing and approving estimates and assumptions made by management when funds are available to us.
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▪
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Management believes that the appointment of outside directors to a fully functioning audit
committee, would remedy the lack of a functioning audit committee.
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Exhibit No.
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Description
|
|
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31.1
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32.1
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101 INS
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XBRL Instance Document*
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101 SCH
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XBRL Schema Document*
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101 CAL
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XBRL Calculation Linkbase Document*
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101 LAB
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XBRL Labels Linkbase Document*
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101 PRE
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XBRL Presentation Linkbase Document*
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101 DEF
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XBRL Definition Linkbase Document*
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By:
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/s/ Mark W. Richards
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Mark W. Richards
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President, Chief Executive Officer,
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(Principal Executive Officer), Treasurer
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(Principal Financial and Accounting Officer), Chairman
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