Inbit Corp

CIK:0001657803|SEC Filings

Statements of Operations and Comprehensive Loss - USD ($)	12 Months Ended		63 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019
Income Statement [Abstract]
Revenue		$ 17,167	$ 21,667
COGS		(13,057)	(13,057)
Other income			11,433
Operating expenses
General and administrative expenses	(70,668)	(40,215)	(248,038)
Net loss from operations	(70,668)	(36,105)	(227,995)
Net loss	$ (70,668)	$ (36,105)	$ (227,995)
Basic and diluted net loss per share	$ (0.00)	$ (0.00)
Weighted average number of shares outstanding	126,000,000	126,000,000

Statements of Cash Flows - USD ($)	12 Months Ended		63 Months Ended
Statements of Cash Flows - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (70,668)	$ (36,105)	$ (227,995)
Adjustments for:
Depreciation			350
Equipment written off			1,750
Changes in:
Accrued liabilities	3,897	(1,003)	14,181
Current assets	386	(40,334)	(40,000)
NET CASH USED IN OPERATING ACTIVITIES	(66,385)	(77,442)	(251,714)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of equipment			(2,100)
NET CASH USED IN INVESTING ACTIVITIES			(2,100)
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of loan from shareholder			(1,075)
Repayment to related party		(78,987)	(156,983)
Proceeds from sale of common stock			31,000
Proceeds from loan from directors		46,192	46,192
Proceeds from loan from shareholder	65,084	110,791	176,950
Proceeds from related party	1,205		158,188
NET CASH PROVIDED BY FINANCING ACTIVITIES	66,289	77,996	254,272
NET INCREASE IN CASH	(96)	554	458
CASH, BEGINNING OF YEAR/PERIOD	554
CASH, END OF YEAR/PERIOD	458	554	458
Supplemental cash flow information:
Interest paid
Income taxes paid

Balance Sheet - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Current assets
Cash	$ 458	$ 554
Deposit	40,000	40,334
Total assets	40,458	40,888
Current liabilities
Accrued liabilities	14,181	10,232
Amount owing to directors	46,192	46,192
Amount owing to shareholders	175,875	110,791
Amount owing to related party	1,205
Total liabilities	237,453	167,215
STOCKHOLDERS' EQUITY/(DEFICIT)
Common stock Authorized: Common stock, $0.001 par value, 5,000,000,000 shares authorized; 126,000,000 shares issued and outstanding as at December 31, 2019 and December 31, 2018 respectively	6,300	6,300
Additional paid in capital	24,700	24,700
Deficit accumulated during the development stage	(227,995)	(157,327)
Total stockholders' deficit	(196,995)	(126,327)
Total liabilities and stockholders' equity	$ 40,458	$ 40,888