HYGGE INTEGRATED BRANDS CORP.
CIK:0001803284|SEC Filings
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) - USD ($) |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Feb. 28, 2021 |
Feb. 29, 2020 |
Feb. 28, 2021 |
Feb. 29, 2020 |
|
| CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) | ||||
| Revenue | $ 1,880 | $ 0 | $ 4,858 | $ 0 |
| Cost of revenue | 1,007 | 0 | 3,090 | 0 |
| Gross profit | 873 | 0 | 1,768 | 0 |
| Operating Expenses: | ||||
| Professional fees | 2,500 | 3,500 | 13,715 | 3,500 |
| Executive compensation | 600 | 1,000 | 2,700 | 1,000 |
| Travel and promotion | 18 | 232 | 1,261 | 8,523 |
| General and administrative | 2,320 | 3,737 | 4,947 | 5,332 |
| Total operating expenses | 5,438 | 8,469 | 22,623 | 18,355 |
| Loss from Operations | (4,565) | (8,469) | (20,855) | (18,355) |
| Other Expense | ||||
| Interest expense | (317) | (181) | (961) | (706) |
| Total Other Expense | (317) | (181) | (961) | (706) |
| Loss Before Income Taxes | (4,882) | (8,650) | (21,816) | (19,061) |
| Income tax provision | ||||
| Net Loss | (4,882) | (8,650) | (21,816) | (19,061) |
| Other Comprehensive Income (Loss) | ||||
| Foreign currency translation gain (loss) | 20 | (280) | 421 | (476) |
| Comprehensive Loss | $ (4,862) | $ (8,930) | $ (21,395) | $ (19,537) |
| Net Loss Per Common Share: | ||||
| Net loss per common share - Basic and Diluted | $ (0.00) | $ (0.00) | $ (0.01) | $ (0.01) |
| Weighted Average Shares Outstanding - Basic and Diluted | 2,471,000 | 2,458,758 | 2,471,000 | 1,854,679 |
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) |
9 Months Ended | |
|---|---|---|
Feb. 28, 2021 |
Feb. 29, 2020 |
|
| Operating Activities: | ||
| Net loss | $ (21,816) | $ (19,061) |
| Changes in Operating Assets and Liabilities- | ||
| Accounts receivable | 1,399 | 0 |
| Inventory | 1,763 | (1,249) |
| Prepaids and other current assets | (42) | (969) |
| Accounts payable and accrued liabilities | 1,117 | 668 |
| Accounts payable - related party | 3,936 | 14,653 |
| Interest on loan payable - related party | 961 | 787 |
| Net Cash Provided by (Used in) Operating Activities | (12,682) | (5,171) |
| Investing Activities | 0 | 0 |
| Proceeds from issuance of common stock | 0 | 24,275 |
| Net Cash Provided by Financing Activities | 0 | 24,275 |
| Effects of exchange rates on cash | 421 | (476) |
| Net Change in Cash | (12,261) | 18,628 |
| Cash - Beginning of Period | 17,509 | 17 |
| Cash - End of Period | 5,248 | 18,645 |
| Cash paid during the period for: | ||
| Interest | 0 | 0 |
| Income tax paid | $ 0 | $ 0 |
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) |
Feb. 28, 2021 |
May 31, 2020 |
|---|---|---|
| Current Assets: | ||
| Cash and cash equivalents | $ 5,248 | $ 17,509 |
| Accounts receivable | 0 | 1,399 |
| Inventory | 820 | 2,583 |
| Prepaids and other current assets | 348 | 306 |
| Total current assets | 6,416 | 21,797 |
| Total Assets | 6,416 | 21,797 |
| Current Liabilities: | ||
| Accounts payable and accrued liabilities | 2,086 | 969 |
| Accounts payable - related party | 26,353 | 22,417 |
| Loans payable - related party | 45,992 | 45,031 |
| Total current liabilities | 74,431 | 68,417 |
| Total Liabilities | 74,431 | 68,417 |
| Commitments and Contingencies | 0 | 0 |
| Stockholders' Deficit: | ||
| Common stock, par value $0.001 per share, 75,000,000 shares authorized; 2,471,000 shares issued and outstanding as of February 28, 2021 and May 31, 2020, respectively | 2,471 | 2,471 |
| Additional paid-in capital | 23,304 | 23,304 |
| Accumulated deficit | (93,061) | (71,245) |
| Accumulated other comprehensive loss | (729) | (1,150) |
| Total stockholders' deficit | (68,015) | (46,620) |
| Total Liabilities and Stockholders' Deficit | $ 6,416 | $ 21,797 |