Related Party Transactions	9 Months Ended
Sep. 30, 2017
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 5 – RELATED PARTY TRANSACTIONS Collaborative Arrangement In April 2017, the Company, through its wholly-owned subsidiary, MSNI Malaysia, entered into a collaboration agreement with MSMSB to develop, maintain and operate an e-commerce business. Lai Chai Suang, the Company’s Chief Executive Officer and Chief Financial Officer, is also a shareholder and director of MSMSB. MSMSB is responsible for the operation of the e-commerce platform and is also the principal in the end-customer product sales. MSMSB has the primary responsibility for order fulfillment, collection of receivables and handling of sales returns in all territories. MSNI Malaysia contributed a consumer database up to a maximum of 500,000 persons in exchange for the profit sharing arrangement in an amount equal to 50% of the net profits from the collaboration agreement, which is included in net revenue. On November 8, 2017, MSNI Malaysia and MSMSB agreed to revise the profit sharing arrangement to an amount equal to 6.5% of sales and the revision shall take effect retroactively as of August 1, 2017. The agreement is initially valid for a year and automatically renews in one-year increments or whenever both parties agree to terminate it. Net revenue from this collaborative arrangement was $357,547 and $383,815 for the three and nine months ended September 30, 2017, respectively. As of September 30, 2017, the Company had a receivable from MSMSB of $325,014. Acquisition Agreement On April 7, 2017, the Company entered into an acquisition agreement with the shareholders of MSMSB pursuant to which the Company agreed to purchase a 100% equity interest, or 100,000 ordinary shares of MSMSB for an aggregate purchase price of $50,000. The consummation of the acquisition is subject to the completion of an audit of MSMSB. Other Related Party Transactions In January 2017, the Company paid certain general and administrative expenses on behalf of Mon Space Plantation Inc, a company whose directors include Lai Chai Suang, Low Koon Poh and Chan Foo Weng, in the amount of $6,599. The amounts are recorded as a receivable on the accompanying balance sheet. In June 2017, the Company’s director, Low Koon Poh, paid employees’ salaries and deposited cash to open a bank account on behalf of the Company of approximately $8,800. The amounts are recorded as due to related parites on the accompanying balance sheet. During the nine months ended September 30, 2017, two companies, whose directors include Low Koon Poh, provided certain general and administrative services to the Company or paid fees on behalf of the Company for the amount of approximately $4,400. The amounts are recorded as due to related parites on the accompanying balance sheet.

Related Party Transactions

9 Months Ended

Sep. 30, 2017

NOTE 5 – RELATED PARTY TRANSACTIONS

Collaborative Arrangement

In April 2017, the Company, through its wholly-owned subsidiary, MSNI Malaysia, entered into a collaboration agreement with MSMSB to develop, maintain and operate an e-commerce business. Lai Chai Suang, the Company’s Chief Executive Officer and Chief Financial Officer, is also a shareholder and director of MSMSB.

MSMSB is responsible for the operation of the e-commerce platform and is also the principal in the end-customer product sales. MSMSB has the primary responsibility for order fulfillment, collection of receivables and handling of sales returns in all territories.

MSNI Malaysia contributed a consumer database up to a maximum of 500,000 persons in exchange for the profit sharing arrangement in an amount equal to 50% of the net profits from the collaboration agreement, which is included in net revenue.

On November 8, 2017, MSNI Malaysia and MSMSB agreed to revise the profit sharing arrangement to an amount equal to 6.5% of sales and the revision shall take effect retroactively as of August 1, 2017.

The agreement is initially valid for a year and automatically renews in one-year increments or whenever both parties agree to terminate it.

Net revenue from this collaborative arrangement was $357,547 and $383,815 for the three and nine months ended September 30, 2017, respectively. As of September 30, 2017, the Company had a receivable from MSMSB of $325,014.

Acquisition Agreement

On April 7, 2017, the Company entered into an acquisition agreement with the shareholders of MSMSB pursuant to which the Company agreed to purchase a 100% equity interest, or 100,000 ordinary shares of MSMSB for an aggregate purchase price of $50,000. The consummation of the acquisition is subject to the completion of an audit of MSMSB.

Other Related Party Transactions

In January 2017, the Company paid certain general and administrative expenses on behalf of Mon Space Plantation Inc, a company whose directors include Lai Chai Suang, Low Koon Poh and Chan Foo Weng, in the amount of $6,599. The amounts are recorded as a receivable on the accompanying balance sheet.

In June 2017, the Company’s director, Low Koon Poh, paid employees’ salaries and deposited cash to open a bank account on behalf of the Company of approximately $8,800. The amounts are recorded as due to related parites on the accompanying balance sheet.

During the nine months ended September 30, 2017, two companies, whose directors include Low Koon Poh, provided certain general and administrative services to the Company or paid fees on behalf of the Company for the amount of approximately $4,400. The amounts are recorded as due to related parites on the accompanying balance sheet.

MON SPACE NET INC. 10-Q