10-Q Filing

GIVEMEPOWER CORP CIK: 1064722 Q2 2020

Filing Information

Form Type	10-Q
Accession Number	`0001760319-20-000069`
Period End Date	20200630
Filing Date	20200824
Fiscal Year	2020
Fiscal Period	Q2
XBRL Instance	gmpw-20200630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 30 Income Statement 22 Cash Flow Statement 16

Balance Sheet 30 line items

Line Item	Tag	Value	Unit	Period
Cash	`CashAndCashEquivalentsAtCarryingValue`	$17.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$500.00	USD	Point-in-time
Investments - trading securities, net	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$47.37K	USD	Point-in-time
Investments - trading securities, net	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$45.40K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$45.90K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$47.38K	USD	Point-in-time
Investment - real estate	`RealEstateInvestments`	-	USD	Point-in-time
Investment - real estate	`RealEstateInvestments`	$321.50K	USD	Point-in-time
Total Assets	`Assets`	$45.90K	USD	Point-in-time
Total Assets	`Assets`	$368.88K	USD	Point-in-time
Marginal loan payable	`LoansPayableCurrent`	$4.54K	USD	Point-in-time
Marginal loan payable	`LoansPayableCurrent`	$4.32K	USD	Point-in-time
Line of credit - related party, current portion	`LinesOfCreditCurrent`	$160.80K	USD	Point-in-time
Line of credit - related party, current portion	`LinesOfCreditCurrent`	$41.20K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$45.52K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$165.34K	USD	Point-in-time
Line of credit - related party, net of current portion	`LongTermLineOfCredit`	$221.50K	USD	Point-in-time
Line of credit - related party, net of current portion	`LongTermLineOfCredit`	-	USD	Point-in-time
Total Liabilities	`LiabilitiesNoncurrent`	$386.84K	USD	Point-in-time
Total Liabilities	`LiabilitiesNoncurrent`	$45.52K	USD	Point-in-time
Common stock, $0.001 par value, 49,000,000 shares authorized, 27,724,687 issued and outstanding as at June 30, 2020 and December 31, 2019 respectively.	`CommonStockSharesIssued`	0.00	shares	Point-in-time
Common stock, $0.001 par value, 49,000,000 shares authorized, 27,724,687 issued and outstanding as at June 30, 2020 and December 31, 2019 respectively.	`CommonStockSharesIssued`	0.00	shares	Point-in-time
Preferred Stock, $0.001 par value, 1,000,000 shares authorized, 1 share issued and outstanding as at June 30, 2020 and December 31, 2019 respectively.	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred Stock, $0.001 par value, 1,000,000 shares authorized, 1 share issued and outstanding as at June 30, 2020 and December 31, 2019 respectively.	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accumulated Retained Earning	`RetainedEarningsAccumulatedDeficit`	$379.00	USD	Point-in-time
Accumulated Retained Earning	`RetainedEarningsAccumulatedDeficit`	$-17.96K	USD	Point-in-time
Total Shareholders' Equity (Deficit)	`StockholdersEquity`	$379.00	USD	Point-in-time
Total Shareholders' Equity (Deficit)	`StockholdersEquity`	$-17.96K	USD	Point-in-time
Total Liabilities and Shareholders' Deficit	`LiabilitiesAndStockholdersEquity`	$45.90K	USD	Point-in-time
Total Liabilities and Shareholders' Deficit	`LiabilitiesAndStockholdersEquity`	$368.88K	USD	Point-in-time

Income Statement 22 line items

Line Item	Tag	Value	Unit	Period
Net gain from sales of investments under trading securities	`MarketableSecuritiesRealizedGainLoss`	$24.82K	USD	1 Quarter
Net gain from sales of investments under trading securities	`MarketableSecuritiesRealizedGainLoss`	$60.01K	USD	2 Qtrs
General and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$10.52K	USD	2 Qtrs
General and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.31K	USD	1 Quarter
Total Expenses	`CostsAndExpenses`	$5.31K	USD	1 Quarter
Total Expenses	`CostsAndExpenses`	$10.52K	USD	2 Qtrs
INCOME FROM OPERATIONS	`IncomeLossFromContinuingOperations`	$49.49K	USD	2 Qtrs
INCOME FROM OPERATIONS	`IncomeLossFromContinuingOperations`	$19.51K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	-	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	-	USD	1 Quarter
Unrealized gain (loss)	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-67.83K	USD	2 Qtrs
Unrealized gain (loss)	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-4.40K	USD	1 Quarter
INCOME (LOSS) BEFORE TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$15.11K	USD	1 Quarter
INCOME (LOSS) BEFORE TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-18.34K	USD	2 Qtrs
INCOME TAX PROVISION	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
INCOME TAX PROVISION	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
NET INCOME (LOSS)	`NetIncomeLoss`	$15.11K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$-18.34K	USD	2 Qtrs
Earnings (loss) per Share: Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.00	USD	2 Qtrs
Earnings (loss) per Share: Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$0.00	USD	1 Quarter
Weighted Average Common Shares Outstanding: Basic and Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.72M	shares	1 Quarter
Weighted Average Common Shares Outstanding: Basic and Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.72M	shares	2 Qtrs

Cash Flow Statement 16 line items

Line Item	Tag	Value	Unit	Period
Cash received from sales of trading securities	`ProceedsFromPaymentsForTradingSecurities`	$232.12K	USD	2 Qtrs
Funds disbursed	`AdditionsToContractHoldersFunds`	$-10.50K	USD	2 Qtrs
Purchase of trading securities	`IncreaseDecreaseInTradingSecurities`	$-241.94K	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-20.32K	USD	2 Qtrs
Payment for real estate investment	`PaymentsToAcquireRealEstate`	$-321.50K	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-321.50K	USD	2 Qtrs
Borrowing from brokerage loan - margin loan	`PaymentsToAcquireLoansReceivable`	$236.00	USD	2 Qtrs
Principal payments on line of credit - short term - related party	`RepaymentsOfLinesOfCredit`	$-2.40K	USD	2 Qtrs
Proceeds from issuance of line of credit - short term - related party	`ProceedsFromLongTermLinesOfCredit`	$122.00K	USD	2 Qtrs
Proceeds from issuance of line of credit - long term - related party	`ProceedsFromLinesOfCredit`	$221.50K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$341.33K	USD	2 Qtrs
Net increase (decrease) in cash:	`CashPeriodIncreaseDecrease`	$-483.00	USD	2 Qtrs
Cash at the beginning of the period:	`CashCashEquivalentsAndShortTermInvestments`	$500.00	USD	Point-in-time
Cash at the end of the period:	`Cash`	$17.00	USD	Point-in-time
Interest paid	`InterestPaid`	$12.00	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	2 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.