Minnesota | E41-0947661 |
(State or other jurisdiction of | (I.R.S. Employer |
incorporation or organization) | Identification No.) |
7725 Vasserman Trail, Chanhassen, MN | 55317 |
(Address of principal executive office) | (Zip Code) |
Large accelerated filer [ ]
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Accelerated filer [ ]
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Non-accelerated filer [ ] (Do not check if a smaller reporting company)
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Smaller reporting company [x]
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Indicated by check mark whether the registrant is a shell company (as defined in Rule 12 b-2 of the Exchange Act). YES [x] NO [ ]
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April 30
2012
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October 31
2011
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(unaudited)
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ASSETS
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Cash
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$1,452 | $5,009 | ||||||
$1,452 | $5,009 | |||||||
CURRENT LIABILITIES
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Accrued liabilities
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$21,049 | $11,809 | ||||||
Advances from shareholder (note 3)
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404,200 | 373,200 | ||||||
425,249 | 385,009 | |||||||
STOCKHOLDERS’ EQUITY (DEFICIENCY)
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Capital stock
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88,818 | 88,818 | ||||||
Additional paid in capital
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913,826 | 913,826 | ||||||
Deficit
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(1,426,441 | ) | (1,382,644 | ) | ||||
(423,797 | ) | (380,000 | ) | |||||
$1,452 | $5,009 |
6 Months Ended April 30
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3 Months Ended April 30
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2012
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2011
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2012
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2011
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Expenses
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Professional fees
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$30,148 | $19,845 | $26,644 | $4,105 | ||||||||||||
Shareholder relations
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7,947 | 20,451 | 3,999 | 4,797 | ||||||||||||
Management fees
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2,700 | 2,400 | 1,500 | 1,200 | ||||||||||||
Directors fees
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0 | 2,000 | 0 | 2,000 | ||||||||||||
Office and general
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3,002 | 1,118 | 2,567 | 645 | ||||||||||||
43,797 | 45,814 | 34,710 | 12,747 | |||||||||||||
Loss for the period
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(43,797 | ) | (45,814 | ) | (34,710 | ) | (12,747 | ) | ||||||||
Deficit, beginning of period
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(1,382,644 | ) | (1,316,210 | ) | (1,391,731 | ) | (1,349,277 | ) | ||||||||
Deficit, end of period
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$(1,426,441 | ) | $(1,362,024 | ) | $(1,426,441 | ) | $(1,362,024 | ) | ||||||||
Basic and diluted earnings (loss) per share
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$(0.05 | ) | $(0.05 | ) | $(0.04 | ) | $(0.01 | ) | ||||||||
Weighted average number of shares
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888,180 | 888,180 | 888,180 | 888,180 |
Six months Ended April 30 | ||||||||
2012
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2011
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Cash provided by (used in):
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Cash flows from operating activities:
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Loss for the period
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$(43,797 | ) | $(45,814 | ) | ||||
Increase in:
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Accrued liabilities
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9,240 | 13,921 | ||||||
Net cash used in operating activities
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(34,557 | ) | (31,893 | ) | ||||
Financing: | ||||||||
Increase in advances from shareholder
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31,000 | 32,000 | ||||||
Net increase (decrease) in cash
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(3,557 | ) | 107 | |||||
Cash, beginning of period
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5,009 | 2,271 | ||||||
Cash, end of period
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$1,452 | $2,378 |
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All recent accounting pronouncements have been reviewed and are not material to the company.
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Management has evaluated subsequent events through the date the financial statements were issued.
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Exhibit No. | Description |
101.INS* | XBRL Instance |
101.SCH* | XBRL Taxonomy Extension Schema |
101.CAL* | XBRL Taxonomy Extension Calculation |
101.DEF* | XBRL Taxonomy Extension Definition |
101.LAB* | XBRL Taxonomy Extension Labels |
101.PRE* | XBRL Taxonomy Extension Presentation |
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BISON INSTRUMENTS, INC.
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CERTIFICATION OF CHIEF EXECUTIVE OFFICER
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PURSUANT TO
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SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 (18 U.S.C. 1350)
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1.
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The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
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2.
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The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
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BISON INSTRUMENTS, INC.
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CERTIFICATION OF CHIEF FINANCIAL OFFICER
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PURSUANT TO
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SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 (18 U.S.C. 1350)
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3.
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The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
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4.
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The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
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Note 5. Subsequent Events
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6 Months Ended | ||
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Apr. 30, 2012
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Subsequent Events [Text Block] |
5.
Subsequent Events
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Note 4. Accounting Pronouncements
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6 Months Ended | ||
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Apr. 30, 2012
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Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] |
4.
Accounting Pronouncements
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Consolidated Balance Sheets (Unaudited) (USD $)
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Apr. 30, 2012
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Oct. 31, 2011
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ASSETS | ||
Cash | $ 1,452 | $ 5,009 |
1,452 | 5,009 | |
CURRENT LIABILITIES | ||
Accrued liabilities | 21,049 | 11,809 |
Advances from shareholder (note 3) | 404,200 | 373,200 |
425,249 | 385,009 | |
STOCKHOLDERS’ EQUITY (DEFICIENCY) | ||
Capital stock | 88,818 | 88,818 |
Additional paid in capital | 913,826 | 913,826 |
Deficit | (1,426,441) | (1,382,644) |
(423,797) | (380,000) | |
$ 1,452 | $ 5,009 |
Note 2. Going Concern Uncertainty
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6 Months Ended |
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Apr. 30, 2012
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Liquidity Disclosure [Policy Text Block] |
2.
Going
Concern Uncertainty
These
interim period consolidated financial statements have been
prepared on the going concern basis which assumes that the
Company will continue in operation for the foreseeable future
and be able to realize its assets and discharge its
liabilities in the normal course of
business. There is significant doubt about the
appropriateness of the use of the going concern assumption
because the Company experienced losses and negative cash
flows in the current and prior periods and has a
stockholders’ deficiency. The application of
the going concern basis is dependent on the continued support
of Andus Inc., the majority shareholder, who has committed to
support the Company financially for its normal management and
corporate expenses at levels of present expenditures until
May 1, 2013. Management continues to pursue other
business opportunities for the Company including merger
opportunities with other businesses, which may result in a
reverse-take-over of the company. However, there
is no guarantee that management will be successful in their
endeavours.
These
interim period consolidated financial statements do not
reflect adjustments that would be necessary if the going
concern basis was not appropriate. If the going
concern basis was not appropriate for these financial
statements, then adjustments would be necessary to the
carrying value of assets, the reported revenues and expenses,
and the balance sheet classifications used.
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Note 3. Related Party Transactions
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6 Months Ended |
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Apr. 30, 2012
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Related Party Transactions Disclosure [Text Block] |
3.
Related
Party Transactions
The
advances from shareholder are payable to Andus Inc., the
majority shareholder of the Company. The advances
are non-interest bearing, unsecured, and have no specific
terms of repayment. Because the Company has no
means to generate the revenue necessary to pay its
obligations to regulatory bodies, directors, accountants and
lawyers, Andus has undertaken to fund the Company’s
normal management and corporate expenses at levels of present
expenditures until at least May 1, 2013, and not to demand
repayment of the advances from shareholder
before May 1,
2013. During the three and six month periods ended
April 30, 2012, Andus Inc. advanced an additional $20,000 and
$31,000 respectively to the Company. During the three and six
month periods ended April 20, 2011, Andus Inc. advanced an
additional $15,000 and $32,000 respectively to the Company.
Subsequent to April 30, 2012, Andus Inc. advanced an
additional $30,000 to the Company.
The
General Manager, Larry Martin, administers the corporate
affairs of the Company and monitors residual business
matters. During the three and six month periods
ended April 30, 2012 the Company incurred expenses to Mr.
Martin of $1,500 and $2,700 respectively, for these services.
During the three and six month periods ended April 30, 2011
the Company incurred expenses to Mr. Martin of $1,200 and
$2,400 respectively, for these services. An office is
maintained in Chanhassen, Minnesota, which is provided free
of charge by Mr. Martin. An affiliate of Andus
Inc., the majority shareholder, provides management and
accounting services at no charge to the Company.
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Consolidated Statements of Operations and Deficit (Unaudited) (USD $)
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3 Months Ended | 6 Months Ended | ||
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Apr. 30, 2012
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Apr. 30, 2011
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Apr. 30, 2012
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Apr. 30, 2011
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Expenses | ||||
Professional fees | $ 26,644 | $ 4,105 | $ 30,148 | $ 19,845 |
Shareholder relations | 3,999 | 4,797 | 7,947 | 20,451 |
Management fees | 1,500 | 1,200 | 2,700 | 2,400 |
Directors fees | 0 | 2,000 | 0 | 2,000 |
Office and general | 2,567 | 645 | 3,002 | 1,118 |
34,710 | 12,747 | 43,797 | 45,814 | |
Loss for the period | (34,710) | (12,747) | (43,797) | (45,814) |
Deficit, beginning of period | (1,391,731) | (1,349,277) | (1,382,644) | (1,316,210) |
Deficit, end of period | $ (1,426,441) | $ (1,362,024) | $ (1,426,441) | $ (1,362,024) |
Basic and diluted earnings (loss) per share (in Dollars per share) | $ (0.04) | $ (0.01) | $ (0.05) | $ (0.05) |
Weighted average number of shares (in Shares) | 888,180 | 888,180 | 888,180 | 888,180 |
Document And Entity Information
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6 Months Ended |
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Apr. 30, 2012
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Document and Entity Information [Abstract] | |
Entity Registrant Name | BISON INSTRUMENTS INC |
Document Type | 10-Q |
Current Fiscal Year End Date | --10-31 |
Entity Common Stock, Shares Outstanding | 888,180 |
Amendment Flag | false |
Entity Central Index Key | 0001093683 |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | No |
Entity Filer Category | Smaller Reporting Company |
Entity Well-known Seasoned Issuer | No |
Document Period End Date | Apr. 30, 2012 |
Document Fiscal Year Focus | 2012 |
Document Fiscal Period Focus | Q2 |
Consolidated Statements of Cash Flows (Uunaudited) (USD $)
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6 Months Ended | 7 Months Ended |
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Apr. 30, 2012
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Apr. 30, 2011
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Cash flows from operating activities: | ||
Loss for the period | $ (43,797) | $ (45,814) |
Increase in: | ||
Accrued liabilities | 9,240 | 13,921 |
Net cash used in operating activities | (34,557) | (31,893) |
Increase in advances from shareholder | 31,000 | 32,000 |
Net increase (decrease) in cash | (3,557) | 107 |
Cash, beginning of period | 5,009 | 2,271 |
Cash, end of period | $ 1,452 | $ 2,378 |
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Note 1. Significant Accounting Policies
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6 Months Ended |
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Apr. 30, 2012
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Significant Accounting Policies [Text Block] |
1.
Significant
Accounting Policies
The
unaudited interim period consolidated financial statements
have been prepared by the Company in accordance with United
States generally accepted accounting principles for interim
financial statements.
The
financial statements do not include footnotes and certain
financial presentations normally required under generally
accepted accounting principles; and, therefore, should be
read in conjunction with the Company’s Annual Report on
Form 10-K/A for the year-ended October 31, 2011.
In
the opinion of management, all adjustments have been made
that are necessary to fairly present the financial position,
results of operations and cash flows of the Company.
Adjustments
are of a normal, recurring nature.
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