false
--03-31
Q1
2012
2011-06-30
10-Q
0001171838
11280140
Smaller Reporting Company
JAVA EXPRESS INC
51597
22935
5345
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<div> <div><a name="_Toc268864990"></a> <div style="WIDTH: 681px"><!--StartFragment--> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> <strong>5. GOING CONCERN</strong></p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; LINE-HEIGHT: 12pt; MARGIN: 0px; text-align: justify"> Generally accepted accounting principles in the United States of America contemplate the continuation of the Company as a going concern. However, the Company had a net loss for the three months ended June 30, 2011, of $4,606. Additionally it has accumulated operating losses since its inception and has limited business operations, which raises substantial doubt about the Company's ability to continue as a going concern. The continuation of the Company is dependent upon the continuing financial support of investors and stockholders of the Company. The Company intends to attempt to acquire additional operating capital through private equity offerings to the public and existing investors to fund its business plan. However, there is no assurance that equity or debt offerings will be successful in raising sufficient funds to assure the eventual profitability of the Company. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event the Company cannot continue in existence.</p> <!--EndFragment--></div> </div> </div>
6860
11280140
11280140
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477716
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2327
878
2327
878
6245
2327
878
2961
801
1449
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2327
0.001
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50000000
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11280140
11280140
11280140
11280140
11280
11280
45400
240055
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<div> <div><a name="_Toc268864990"></a> <div style="WIDTH: 681px"><!--StartFragment--> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> <strong>3. NOTES PAYABLE</strong></p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> On June 3, 2010, the Company entered into a promissory note agreement for $750. The note is payable within eighteen months. The note has a stated interest rate of 8% per annum. As of June 30, 2011 the principal balance was $750 with accrued interest of $65. The note maturity date is December 3, 2011.</p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> On August 30, 2010 and September 29, 2010, the Company entered into promissory note agreements with a related party for $1,500 and $1,000, respectively. The notes have a stated interest rate of 8% per annum. As of June 30, 2011 the principal balance was $2,500 with accrued interest of $161. The note maturity dates are February 28, 2012 and March 29, 2012, respectively.</p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> On January 18, 2011 and March 14, 2011, the Company received advances from a related party for $1,000 and $1,500, respectively.</p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> On June 23, 2011, the Company received advances from a related party for $2,000.</p> <!--EndFragment--></div> </div> </div>
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4541
3471
459006
159063
3990
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5
35989
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65
5
36906
290
226
161
11966
5911
2327
878
11966
5911
2000
1050
469968
0
0
-57298
-551
-3210
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-4606
-3476
-498635
-65
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-44871
3250
3250
4541
3471
612827
-4541
-3471
-453764
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<div> <div><a name="_Toc268864990"></a> <div style="WIDTH: 681px"><!--StartFragment--> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> <strong>1. ORGANIZATION AND BASIS OF PRESENTATION</strong></p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> <strong><em>Organization</em></strong></p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> The Company was incorporated under the laws of the State of Nevada on December 14, 2001, with authorized 50,000,000 shares of $.001 par value common stock and 10,000,000 shares of $.001 par value preferred stock. There are no shares of the preferred stock issued and outstanding and the terms have not been defined. The Company's fiscal year end is March 31. Since December 14, 2001, the Company has been in the development stage. Initially, the Company developed a "turn key" retail coffee kiosk design with the intention of operating retail kiosk(s) in the Las Vegas, Nevada area, and elsewhere. Although, and the Company began marketing the concept, it was determined that this venture would not be successful the Company sought other business opportunities. In September, 2004, the Company entered into business coaching through the acquisition of K-Com Business Coaching Corp. The Company operated this business until January 30, 2006. There have been no operations since that time.</p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> On September 29, 2004, the Company entered into a plan of reorganization whereby they acquired 100% ownership in K-Com Business Coaching Corp., a Utah Corporation, in exchange for 1,200,000 shares of common stock.</p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> On January 30, 2006, the Company dissolved its wholly-owned subsidiary, K-Com Business Coaching Corp. All of the assets and liabilities of K-Com were absorbed by the Company and are reflected in its financial statements for the year ended March 31, 2006, and are recorded at book value.</p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> <strong><em>Basis of Presentation</em></strong></p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> The results of operations for the interim periods are not necessarily indicative of the results for the full year. In management's opinion all adjustments necessary for a fair presentation of the Company's financial statements are reflected in the interim periods included, and are of a normal recurring nature.</p> <!--EndFragment--></div> </div> </div>
2300
27433
23088
53500
0.001
0.001
10000000
10000000
0
0
0
0
208566
750
247208
300
12942
2500
2000
4500
13045
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<div> <div><a name="_Toc268864990"></a> <div style="WIDTH: 681px"><!--StartFragment--> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> <strong>4. SIGNIFICANT RELATED PARTY TRANSACTIONS</strong></p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> As of June 30, 2011, all activities of the Company were conducted by the principal corporate officer from either his home or business office.</p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> On August 30, 2010 and September 29, 2010, the Company entered into promissory note agreements with a related party for $1,500 and $1,000, respectively. The notes have a stated interest rate of 8% per annum. As of June 30, 2011 the principal balance was $2,500 with accrued interest of $111.</p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> On January 18, 2011 and March 14, 2011, the Company received advances from a related party for $1,000 and $1,500, respectively.</p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> On June 23, 2011, the Company received advances from a related party for $2,000.</p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> During the year ended March 31, 2008, Globe Energy Technologies, LLC became a majority shareholder (49.7%) of the Company through its purchase of shares from the Company, certain selling shareholders and conversion of a promissory note. Globe Energy Technologies, LLC's Managing Member is Mark Burdge, a director of the Company.</p> <!--EndFragment--></div> </div> </div>
5748
-498635
-494029
204463
153821
98
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<div> <div><a name="_Toc268864990"></a> <div style="WIDTH: 681px"><!--StartFragment--> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> <strong>2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</strong></p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> <u>Accounting Method</u></p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> The Company recognizes income and expenses based on the accrual method of accounting.</p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> <u>Dividend Policy</u></p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> The Company has not yet adopted a policy regarding payment of dividends.</p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> <u>Basic and Diluted Net Income (Loss) Per Share</u></p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> Basic net income (loss) per share amounts are computed based on the weighted average number of shares actually outstanding. Diluted net income (loss) per share amounts are computed using the weighted average number of common shares and common equivalent shares outstanding as if shares had been issued on the exercise of any common share rights unless the exercise becomes antidilutive and then the basic and diluted per share amounts are the same.</p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> <u>Estimates and Assumptions</u></p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> Management uses estimates and assumptions in preparing financial statements in accordance with generally accepted accounting principles. Those estimates and assumptions affect the reported amounts of the assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Actual results could vary from the estimates that were assumed in preparing these financial statements.</p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> <u>Financial Instruments</u></p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> The carrying amounts of financial instruments are considered by management to be their estimated fair values due to their short term maturities.</p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> <u>Income Taxes</u></p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> The Company utilizes the liability method of accounting for income taxes. Under the liability method deferred tax assets and liabilities are determined based on the differences between financial reporting and the tax bases of the assets and liabilities and are measured using the enacted tax rates and laws that will be in effect, when the differences are expected to reverse. An allowance against deferred tax assets is recognized, when it is more likely than not, that such tax benefits will not be realized.</p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> On June 30, 2011, the Company had a net operating loss available for carry forward of $498,635. The tax benefit of approximately $149,590 from the loss carryforward has been fully offset by a valuation reserve because the use of the future tax benefit is doubtful since the Company has been unable to project an estimated future operating profit. The loss carryforward will begin to expire in 2021.</p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> <u>Concentration of Credit Risk</u></p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> There are no financial instruments that potentially subject the Company to significant concentration of credit risks.</p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> <u>Revenue Recognition</u></p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> Revenue is recognized on the sale and delivery of a product or the completion of services provided.</p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> <u>Advertising and Market Development</u></p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> The Company expenses advertising and market development costs as incurred.</p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> <u>Recent Accounting Pronouncements</u></p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="FONT-FAMILY: Arial,Times New Roman; MARGIN: 0px; text-align: justify"> The Company has reviewed recent accounting pronouncements and does not expect that the adoption of the recent accounting pronouncements will have a material impact on its financial statements.</p> <!--EndFragment--></div> </div> </div>
-9639
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xbrli:shares
ISO4217:USD
ISO4217:USD
shares
0001171838
2011-08-10
0001171838
2011-06-30
0001171838
2011-04-01
2011-06-30
0001171838
2001-12-14
2011-06-30
0001171838
2011-03-31
0001171838
2010-06-30
0001171838
2010-04-01
2010-06-30
0001171838
2010-03-31