Drax, Industries Inc.

CIK:0001844519|SEC Filings

STATEMENTS OF OPERATIONS - USD ($)	9 Months Ended	12 Months Ended
STATEMENTS OF OPERATIONS - USD ($)	Dec. 31, 2020	Dec. 31, 2021
Income Statement [Abstract]
REVENUES		$ 31,000
COSTS OF SALES		33,165
GROSS MARGIN		(2,165)
EXPENSES:
Professional fees	3,600	33,570
General and administrative	1,125	156,872
Amortization expense		86
Depreciation expense		7,674
TOTAL OPERATING EXPENSES:	4,725	198,202
OTHER EXPENSE
Interest expense	28	642
TOTAL OTHER EXPENSES:	28	642
TOTAL EXPENSES		198,844
LOSS FROM OPERATIONS	(4,753)	(201,009)
NET LOSS	$ (4,753)	$ (201,009)
Net income (loss) per common share, basic and diluted	$ (0.00)	$ (0.04)
Weighted average number of common shares outstanding, basic and diluted	4,000,000	5,663,494

STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended	12 Months Ended
STATEMENTS OF CASH FLOWS - USD ($)	Dec. 31, 2020	Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (4,753)	$ (201,008)
Adjustments to reconcile net (loss) to net cash used in operating activities
Amortization expense		84
Depreciation expense		7,674
Customer deposits		10,000
Inventory		(311,892)
Prepaid expenses	(2,500)	(102,772)
Accrued interest	28	56
Security deposits	(1,000)	(49,366)
Accounts payable		2,640
Deferred Rent Liability	1,125	(1,125)
Net cash used for operating activities	(7,100)	(645,710)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of Furniture and equipment		(111,305)
Net cash used by investing activities		(111,305)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from sale of stock	400	784,143
Proceeds from loan	10,000
Accounts and notes receivable, related party		(10,000)
Advances from line of credit		7,000
Payments on note payable		(10,084)
Net cash provided by financing activities	10,400	771,059
Net increase in cash	3,300	14,044
Cash, beginning of year		3,300
Cash, end of period	3,300	17,344
Supplemental Disclosures
Interest paid		920
Tax paid
Operating lease ROU asset/Lease liability acquisition		79,078
Operating lease ROU asset/Lease liability disposal		$ 59,478

BALANCE SHEETS - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash	$ 17,344	$ 3,300
Note Receivable, Related Party	10,000	0
Inventory	311,892
Prepaid expenses	105,272	2,500
Total current assets	444,508	5,800
Other assets:
Furniture and equipment, net of depreciation $7,674	103,632	0
Security deposits	50,366	1,000
Total assets	598,506	6,800
Current liabilities:
Accounts payable	2,640
Accrued interest	84	28
Total current liabilities	2,742	28
Other Liabilities:
Customer deposits	10,000
Note payable, net of unamortized discount of $0 and $500		10,000
Line of Credit, Related Party	7,000	0
Deferred rent liability		1,125
Total liabilities:	19,724	11,153
Stockholders’ Equity (deficit):
Preferred stock, $0.0001 par value, 100,000 authorized 0 and 0 issued and outstanding
Common stock, $0.0001 par value, 70,000,000 authorized, Issued and outstanding: 7,136,571, at December 31, 2021 and 4,000,000 at December 31, 2020	714	400
Additional paid in capital	783,829
Deficit accumulated during development stage	205,761	(4,753)
Total stockholders' equity (deficit):’	578,782	(4,353)
Total liabilities and stockholders’ equity (deficit):	$ 598,506	$ 6,800