Regnum (RGMP) 10-K13 Aug 212020 FY Annual reportFinancial data

Company Profile

Cover

Cover - USD ($)	12 Months Ended
Cover - USD ($)	Dec. 31, 2020	Aug. 11, 2021	Jun. 30, 2020
Cover [Abstract]
Entity Registrant Name	Regnum Corp.
Entity Central Index Key	0001716324
Document Type	10-K
Amendment Flag	false
Entity Voluntary Filers	Yes
Current Fiscal Year End Date	--12-31
Entity Well Known Seasoned Issuer	No
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Current Reporting Status	Yes
Document Period End Date	Dec. 31, 2020
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020
Entity Ex Transition Period	false
Entity Common Stock Shares Outstanding		22,950,000
Entity Public Float			$ 0
Document Annual Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes

Balance Sheet

Balance Sheet - USD ($)	Dec. 31, 2020	Dec. 31, 2019
CURRENT ASSETS
Cash	$ 0	$ 7,444
Accounts Receivable	4,500
Total Current Assets	4,500	7,444
OTHER ASSETS
Intangible assets, net	0	1,036
Total Other Assets	0	1,036
TOTAL ASSETS	4,500	8,480
CURRENT LIABILITIES
Accounts payable	5,523	0
Accrued taxes payable	800	800
Accounts payable - related party	48,570	0
Total Current Liabilities	54,893	800
TOTAL LIABILITIES	54,893	800
STOCKHOLDERS' EQUITY (DEFICIT)
Common stock: $0.001 par value, 80,000,000 shares authorized, 23,950.000 shares issued and outstanding, respectively	23,950	22,950
Additional paid-in capital	77,150	18,550
Retained earnings (accumulated deficit)	(151,493)	(33,820)
Total Stockholders' Equity	(50,393)	7,680
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	$ 4,500	$ 8,480

Balance Sheet (Parenthetical)

Balance Sheet (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
STOCKHOLDERS' EQUITY (DEFICIT)
Common stock, shares par value	$ 0.001	$ 0.001
Common stock, shares authorized	80,000,000	80,000,000
Common stock, shares issued	23,950,000	23,950,000
Common stock, shares outstanding	23,950,000	23,950,000

Statements of Operations

Statements of Operations - USD ($)	12 Months Ended
Statements of Operations - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Statements of Operations
REVENUES	$ 9,000	$ 6,300
COST OF SALES	2,228	0
GROSS PROFIT	6,772	6,300
OPERATING EXPENSES
Amortization of intangible assets	4,808	364
Legal and professional fees	54,715	38,151
General and administrative	64,922	3,365
Total Operating Expenses	124,445	41,880
INCOME (LOSS) FROM OPERATIONS	(117,673)	(35,580)
OTHER EXPENSES	0	0
INCOME (LOSS) BEFORE TAXES	(117,673)	(35,580)
INCOME TAX EXPENSE	0	800
NET INCOME (LOSS)	$ (117,673)	$ (36,380)
BASIC AND DILUTED INCOME PER COMMON SHARE	$ 0	$ 0
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING	23,714,384	22,950,000

Statements of Stockholders' Equ

Statements of Stockholders' Equity - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings (Accumulated Deficit) [Member]
Balance, shares at Dec. 31, 2017		20,000,000
Balance, amount at Dec. 31, 2017	$ 12,562	$ 20,000	$ (8,000)	$ 562
Common stock issued for cash, shares		2,950,000
Common stock issued for cash, amount	29,500	$ 2,950	26,550	0
Net income (loss)	1,998	$ 0	0	1,998
Balance, shares at Dec. 31, 2018		22,950,000
Balance, amount at Dec. 31, 2018	44,060	$ 22,950	18,550	2,560
Net income (loss)	(36,380)	$ 0	0	(36,380)
Balance, shares at Dec. 31, 2019		22,950,000
Balance, amount at Dec. 31, 2019	7,680	$ 22,950	18,550	(33,820)
Net income (loss)	(117,673)			(117,673)
Common shares issued for services rendered, shares		1,000,000
Common shares issued for services rendered, amount	59,600	$ 1,000	58,600	0
Balance, shares at Dec. 31, 2020		23,950,000
Balance, amount at Dec. 31, 2020	$ (50,393)	$ 23,950	$ 77,150	$ (151,493)

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
Statements of Cash Flows - USD ($)	Dec. 31, 2020	Dec. 31, 2019
OPERATING ACTIVITIES
Net income (loss)	$ (117,673)	$ (36,380)
Adjustments to reconcile net loss to net cash provided by operating activities:
Common stock issued for services	59,600	0
Amortization of intangible assets	4,808	364
Changes in operating assets and liabilities:
Accounts receivable	(4,500)	0
Accounts payable	5,523	0
Accrued Taxes Payable	0	(1,510)
Account payable - related party	48,570	(1,325)
Net Cash Provided By (Used In) Operating Activities	(3,672)	(38,851)
INVESTING ACTIVITIES
Purchase of intangible assets	(6,000)	(1,000)
Sale of intangible assets	2,228	0
Net Cash Used in Investing Activities	(3,772)	(1,000)
FINANCING ACTIVITIES
NET INCREASE (DECREASE) IN CASH	(7,444)	(39,851)
CASH AT BEGINNING OF PERIOD	7,444	47,295
CASH AT END OF PERIOD	$ 0	$ 7,444

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Dec. 31, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Nature of Business Regnum Corp. (“The Company”) was organized on March 31, 2016, under the laws of the State of Nevada. The Company was formed for a primary business purpose of servicing the increasing demand for premium entertainment content and becoming a depository of unpublished intellectual properties for resale with focus on achieving profitability and sustaining business growth. The Company’s business model has been based on acquiring unproduced and unpublished quality intellectual properties at a discount from studios, agencies and production companies for subsequent recycling or production in wide variety of media with the intent to resell back to the entertainment community for a profit. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Basic Loss per Common Share Basic loss per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company’s net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are 80,000,000 common stock shares authorized at $0.001 par value and 23,950,000 shares of common stock outstanding as of December 31, 2020. The Company had no potential dilutive shares of common stock as of December 31, 2020. Accounting Basis The basis is accounting principles generally accepted in the United States of America. The Company has adopted a December 31 fiscal year-end. Cash and Cash Equivalents Cash and cash equivalents include cash in banks and financial instruments which mature within six months of the date of purchase. Revenue Recognition Revenues from the sale of intellectual property are recognized when persuasive evidence of an arrangement exists, the intellectual property has been delivered or is made available for delivery, the customer can begin the use of the intellectual property, the fee is fixed or determinable and collectability is reasonably assured, which is generally upon execution of a purchase agreement and delivery of the intellectual property. Intangible Assets The Company capitalizes the costs of acquiring intellectual property. The Company amortizes these costs over the costs in the same expected ratio as the associated ultimate revenue. Impairment of Long-Lived Assets The Company reviews and evaluates long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amounts may not be recoverable. The assets are subject to impairment consideration under ASC 360-10-35-17 if events or circumstances indicate that their carrying amounts might not be recoverable. When the Company determines that an impairment analysis should be done, the analysis will be performed using rules of ASC 930-360-35, Asset Impairment, and 360-10-15-3 through 15-5, Impairment or Disposal of Long-Lived Assets. Income Taxes The Company provides for income taxes under ASC 740, Accounting for Income Taxes. ASC 740 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax basis of assets and liabilities and the tax rates in effect when these differences are expected to reverse. ASC 740 requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. If applicable, the Company would classify interest and penalties related to uncertain tax positions in income tax expense. Through December 31, 2020, there has been no interest expense or penalties related to unrecognized tax benefits. Recent Accounting Pronouncements In May 2014, the FASB issued ASU 2014-09 “ Revenue from Contracts with Customers ” Management has considered all recent accounting pronouncements issued since the last audit of the Company’s financial statements. The Company’s management believes that these recent pronouncements will not have a material effect on the Company’s financial statements.

GOING CONCERN

GOING CONCERN	12 Months Ended
GOING CONCERN	Dec. 31, 2020
GOING CONCERN
2. GOING CONCERN	The Company's financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has a limited operating history and has not yet established strong liquidity or a reliable ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern over an extended period of time. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until its operations become established enough to be considered reliably profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations. In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses. The Company intends to position itself so that it may be able to raise additional funds through the capital markets. In light of management’s efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern. The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. These factors raise substantial doubts about the Company’s ability to continue as a going concern for one year from the issuance date from these financial statements. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

STOCKHOLDERS EQUITY

STOCKHOLDERS EQUITY	12 Months Ended
STOCKHOLDERS EQUITY	Dec. 31, 2020
STOCKHOLDERS EQUITY
3. STOCKHOLDERS' EQUITY	As of December 31, 2020, the Company has authorized 80,000,000 shares of $0.001 par value common stock, of which 23,950,000 shares are issued and outstanding. On March 3, 2020, the Company issued 1,000,000 shares of common stock for services rendered. The shares were valued at $0.06 per share, based upon the market closing price on the date of issuance.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
RELATED PARTY TRANSACTIONS	Dec. 31, 2020
RELATED PARTY TRANSACTIONS
4. RELATED PARTY TRANSACTIONS	During the year ended December 31, 2020, the Company paid $6,877 to its President and Chief Executive Officer as compensation for executive services rendered through March 31, 2020. Additionally, Wookey, a related party, made $48,570 in payments on behalf of the Company for trade accounts payable during the year ended December 31, 2020

INCOME TAXES

INCOME TAXES	12 Months Ended
INCOME TAXES	Dec. 31, 2020
INCOME TAXES
5. INCOME TAXES	Income tax expense consists of the following: December 31, 2020 2019 Federal $ - $ - State - 800 Total $ - $ 800 Income tax expense differed from the amounts computed by applying the U.S. federal statutory tax rate applicable to the Company’s level of pretax income as a result of the following: December 31, 2020 2019 Federal tax at statutory rate $ - $ - State taxes, net of federal benefit - - Net operating loss carryforward - - Total $ - $ -

CONCENTRATION

CONCENTRATION	12 Months Ended
CONCENTRATION	Dec. 31, 2020
CONCENTRATION
6. CONCENTRATION	For the years ended December 31, 2020 and 2019, revenues consisted of sales to six and five customers, respectively.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Dec. 31, 2020
SUBSEQUENT EVENTS
8. SUBSEQUENT EVENTS	On April 7, 2021, Wookey Technologies Corporation, a Delaware corporation, the previous majority shareholder of the Company, entered into a stock purchase agreement for the sale of 20,000,000 shares of Common Stock of the Company, to Phoenixus AG, an accredited investor. Phoenixus AG also acquired an additional 2,680,000 shares of common stock from three minority shareholders. In connection with the sale of such shares, an aggregate of 1,000,000 shares of common stock held by Gary Allen were returned to the Company for cancellation. As a result of the acquisition of 22,680,000 shares of common stock and the cancellation of 1,000,000 shares, Phoenixus AG holds approximately 99% of the issued and outstanding shares of Common Stock of the Company, and as such it is able to unilaterally control the election of our board of directors, all matters upon which shareholder approval is required and, ultimately, the direction of the Company. On May 13, 2021, the Company, entered into an Agreement and Plan of Merger (the “Merger Agreement”) with SevenScore Pharmaceuticals, LLC, a Delaware limited liability company (“SevenScore”). The Merger Agreement provides that, among other things and subject to the terms and conditions of the Merger Agreement, (a) SevenScore will be merged with and into the Company (the “Merger”), with the Company being the surviving corporation in the Merger, and, (b) at the effective time of the Merger (the “Effective Time”), membership interests in SevenScore will be converted into the right to receive an aggregate of 25,878,168 shares of common stock of the Company (the “Merger Consideration”). Each SevenScore membership interest shall by virtue of the Merger and without any action on the part of the holder thereof, be automatically converted into and exchangeable for a fraction of a fully paid and nonassessable share of the Company’s Common Stock equal to one multiplied by a fraction obtained by dividing (A) 25,878,168 by (B) 26,128,168 (the “Exchange”). In accordance with SFAS 165 Company management reviewed all material events through the date of this report and there are no additional material subsequent events to report. Also, on April 7, 2021, Mark Gustavson, Chief Executive Officer, Secretary and Director of the Company, and Ross Meador, Vice President and General Counsel of the Company, resigned their positions with the Company. Upon such resignations, Anne Kirby was appointed as Chief Executive Officer, President and sole Director. Rob Stubblefield remains the Chief Financial Officer of the Company.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Dec. 31, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Nature of Business	Regnum Corp. (“The Company”) was organized on March 31, 2016, under the laws of the State of Nevada. The Company was formed for a primary business purpose of servicing the increasing demand for premium entertainment content and becoming a depository of unpublished intellectual properties for resale with focus on achieving profitability and sustaining business growth. The Company’s business model has been based on acquiring unproduced and unpublished quality intellectual properties at a discount from studios, agencies and production companies for subsequent recycling or production in wide variety of media with the intent to resell back to the entertainment community for a profit.
Use of Estimates	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Basic Loss per Common Share	Basic loss per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company’s net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are 80,000,000 common stock shares authorized at $0.001 par value and 23,950,000 shares of common stock outstanding as of December 31, 2020. The Company had no potential dilutive shares of common stock as of December 31, 2020.
Accounting Basis	The basis is accounting principles generally accepted in the United States of America. The Company has adopted a December 31 fiscal year-end.
Cash and Cash Equivalents	Cash and cash equivalents include cash in banks and financial instruments which mature within six months of the date of purchase.
Revenue Recognition	Revenues from the sale of intellectual property are recognized when persuasive evidence of an arrangement exists, the intellectual property has been delivered or is made available for delivery, the customer can begin the use of the intellectual property, the fee is fixed or determinable and collectability is reasonably assured, which is generally upon execution of a purchase agreement and delivery of the intellectual property.
Intangible Assets	The Company capitalizes the costs of acquiring intellectual property. The Company amortizes these costs over the costs in the same expected ratio as the associated ultimate revenue.
Impairment of Long-Lived Assets	The Company reviews and evaluates long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amounts may not be recoverable. The assets are subject to impairment consideration under ASC 360-10-35-17 if events or circumstances indicate that their carrying amounts might not be recoverable. When the Company determines that an impairment analysis should be done, the analysis will be performed using rules of ASC 930-360-35, Asset Impairment, and 360-10-15-3 through 15-5, Impairment or Disposal of Long-Lived Assets.
Income Taxes	The Company provides for income taxes under ASC 740, Accounting for Income Taxes. ASC 740 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax basis of assets and liabilities and the tax rates in effect when these differences are expected to reverse. ASC 740 requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. If applicable, the Company would classify interest and penalties related to uncertain tax positions in income tax expense. Through December 31, 2020, there has been no interest expense or penalties related to unrecognized tax benefits.
Recent Accounting Pronouncements	In May 2014, the FASB issued ASU 2014-09 “ Revenue from Contracts with Customers ” Management has considered all recent accounting pronouncements issued since the last audit of the Company’s financial statements. The Company’s management believes that these recent pronouncements will not have a material effect on the Company’s financial statements.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
INCOME TAXES (Tables)	Dec. 31, 2020
INCOME TAXES
Schedule of Income tax expense differed from amount computed by the U.S. federal statutory tax rate	December 31, 2020 2019 Federal $ - $ - State - 800 Total $ - $ 800
Schedule of Income tax expense	December 31, 2020 2019 Federal tax at statutory rate $ - $ - State taxes, net of federal benefit - - Net operating loss carryforward - - Total $ - $ -

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Potential dilutive shares of common stock	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	80,000,000	80,000,000
Common stock, shares outstanding	23,950,000	23,950,000

STOCKHOLDERS EQUITY (Details Na

STOCKHOLDERS EQUITY (Details Narrative) - $ / shares	Mar. 03, 2020	Dec. 31, 2020	Dec. 31, 2019
Common stock, par value		$ 0.001	$ 0.001
Common stock, shares authorized		80,000,000	80,000,000
Common stock, shares issued		23,950,000	23,950,000
Common stock, shares outstanding		23,950,000	23,950,000
Board of Directors [Member]
Common stock issued price per share	$ 0.60
Common shares issued for services rendered, shares	1,000,000

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative)	12 Months Ended
RELATED PARTY TRANSACTIONS (Details Narrative)	Dec. 31, 2020USD ($)
Related Party [Member]
Repayment of accounts payable	$ 48,570
President and Chief Executive Officer [Member]
Compensation for executive services	$ 6,877

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
INCOME TAXES (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
INCOME TAXES
Federal	$ 0	$ 0
State	0	800
Total	$ 0	$ 800

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($)	12 Months Ended
INCOME TAXES (Details 1) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
INCOME TAXES
Federal tax at statutory rate	$ 0	$ 0
State taxes, net of federal benefit	0	0
Net operating loss carryforward	0	0
Total	$ 0	$ 0

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - shares	May 13, 2021	Apr. 07, 2021
Sale of Stock, Number of Shares Issued in Transaction		20,000,000
Subsequent Event [Member]
Merger agreement description	Each SevenScore membership interest shall by virtue of the Merger and without any action on the part of the holder thereof, be automatically converted into and exchangeable for a fraction of a fully paid and nonassessable share of the Company’s Common Stock equal to one multiplied by a fraction obtained by dividing (A) 25,878,168 by (B) 26,128,168 (the “Exchange”).
Aggregate common stock shares	25,878,168
Subsequent Event [Member] \| Stock Purchase Agreement [Member]
Acquisition of shares of common stock		22,680,000
Gary Allen [Member]
Common stock, shares cancelled		1,000,000
Phoenixus AG [Member]
Common stock, shares cancelled		1,000,000
Phoenixus AG [Member] \| Subsequent Event [Member] \| Stock Purchase Agreement [Member] \| Three minority shareholders [Member]
Acquisition of additional shares of common stock		2,680,000