Restatement

12 Months Ended

Aug. 31, 2022

Accounting Changes and Error Corrections [Abstract]

NOTE 1 – Restatement

On November 15, 2023, the Company determined that the Company’s consolidated financial statements for the three months ended August 31, 2022 should no longer be relied upon since there were Preferred Stock that were not recorded, the removal of Loan from Shareholder and Notes Payable Related Parties had been omitted, and the reverse split on Common Stock were not recorded.

The effects of the restatement on the Company’s Consolidated financial statements as of, and for the twelve months ended following:

Balance Sheets

	As Previously		Effect of			As
	Reported		Restatement			Restated
Series A Preferred Stock, Par Value of $0.0001, 10,000,000 issued and outstanding as of August 31, 2022. Each share of Series A Preferred Stock is convertible into 10 shares of common stock	$	-	$	10,000		$	10,000
Additional paid in capital	$	35,392	$	17,010		$	52,402
Loan from shareholder	$	32,602	$	(14,215	)	$	18,387
Notes payable related parties	$	12,795	$	(12,795	)	$	-

Statements of Operations

As Previously

Effect of

Reported

Restatement

Restated

Weighted average number of shares outstanding

11,020,000

10,909,800

110,200

Statements of Cash Flows

No change

Common Stock

The Company has authorized 500,000,000 shares of $ 0.001 par value, common stock. As of August 31, 2021, there were 11,020,000 shares of Common Stock issued and outstanding.

On September 29, 2021, the Company adapted its articles of incorporation by instituting a reverse split of its common stock at a rate of 1 for 100, reducing the number of shares of Common Stock issued and outstanding from 11,020,000 to 110,200.

After the Reverse, as of August 31, 2022, there were 110,200 shares of Common Stock issued and outstanding.

Preferred Stock

The Company has designated 10,000,000 shares of $ 0.0001 par value, Preferred stock on April 19, 2021. As of August 31, 2022 and August 31, 2021 respectively, there were 10,000,000 preferred shares outstanding.

Each share of Preferred Stock is convertible into 10 (ten) shares of common stock.

On June 28, 2021, as a result of a private transactions, 10,000,000 shares of Preferred Stock, $0.0001 par value per share of the Company, were transferred from Custodian Ventures, LLC to Chan Yit Wei, Teh Boo Yim, Falcon Venture Capital Limited, Chan Kim Thiam, and Dengfeng Management Limited (collectively, the “Purchasers”). As a result, the Purchasers became an approximately 90% holder of the voting rights of the issued and outstanding share capital of the Company on a fully-diluted basis of the Company, and became the controlling shareholder.

Additional specifics of these matters are elucidated under ITEM 12 in the Original 10-K.

Related Party Notes Payable

As of August 31, 2022, there was a loan from shareholder amounting to $18,387.

The previous controlling shareholder, David Lazar and Custodian Ventures, has waived any and all rights to the liabilities and debts owed by the Company, including the $14,215 loan from the shareholder and the $12,795 note payable, in connection with a private transactions conducted on June 28, 2021. Such figures were removed from the Amended 10-K.

Dengfeng Group Ltd 10-K/A