BASIS OF PRESENTATION
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9 Months Ended |
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Apr. 30, 2012
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BASIS OF PRESENTATION | |
BASIS OF PRESENTATION | NOTE A - BASIS OF PRESENTATION The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10?Q and Article 8 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. For further information, refer to the financial statements and footnotes thereto included in the Concrete Leveling Systems, Inc. Form 10-K filing for the period ended July 31, 2011. |
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GOING CONCERN
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9 Months Ended |
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Apr. 30, 2012
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GOING CONCERN | |
GOING CONCERN | NOTE B - GOING CONCERN As shown in the financial statements, the Company incurred a net loss of $24,826 for the three months ended April 30, 2012, and has incurred substantial net losses since its inception. At April 30, 2012, current liabilities exceed current assets by $164,526. These factors raise substantial doubt about the Company's ability to continue as a going concern. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary in the event the Company cannot continue existence. |
Balance Sheets Parentheticals (USD $)
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Apr. 30, 2012
|
Jul. 31, 2011
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---|---|---|
Common Stock, par value | $ 0.001 | $ 0.001 |
Common Stock, shares authorized | 100,000,000 | 100,000,000 |
Common Stock, shares issued | 5,585,418 | 5,585,418 |
Common Stock, shares outstanding | 5,585,418 | 5,585,418 |
Document and Entity Information
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9 Months Ended | |
---|---|---|
Apr. 30, 2012
|
Jun. 12, 2012
|
|
Document and Entity Information | ||
Entity Registrant Name | Concrete Leveling Systems Inc | |
Document Type | 10-Q | |
Document Period End Date | Apr. 30, 2012 | |
Amendment Flag | false | |
Entity Central Index Key | 0001414382 | |
Current Fiscal Year End Date | --07-31 | |
Entity Common Stock, Shares Outstanding | 5,585,418 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Document Fiscal Year Focus | 2012 | |
Document Fiscal Period Focus | Q3 |
Statements of Income (USD $)
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3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Apr. 30, 2012
|
Apr. 30, 2011
|
Apr. 30, 2012
|
Apr. 30, 2011
|
|
Equipment and parts sales | $ 467 | $ 0 | $ 467 | $ 416 |
Cost of Sales | 299 | 0 | 299 | 183 |
Gross Margin | 168 | 0 | 168 | 233 |
Expenses | ||||
Selling, general and administration | 24,059 | 23,413 | 87,210 | 83,390 |
Depreciation | 0 | 158 | 0 | 476 |
Total Expenses | 24,059 | 23,571 | 87,210 | 83,866 |
(Loss) from Operations | (23,891) | (23,571) | (87,042) | (83,633) |
Other Income (Expense) | ||||
Interest income | 680 | 1,384 | 2,223 | 3,471 |
Interest expense | (1,615) | (2,007) | (4,650) | (4,251) |
Total Other Income (Expense) | (935) | (623) | (2,427) | (780) |
Net (Loss) Before Income Taxes | (24,826) | (24,194) | (89,469) | (84,413) |
Provision for Income Taxes | 0 | 0 | 0 | 0 |
Net (Loss) | $ (24,826) | $ (24,194) | $ (89,469) | $ (84,413) |
Net (Loss) per Share - Basic and Fully Diluted | $ 0.00 | $ 0.00 | $ (0.02) | $ (0.02) |
Weighted average number of common shares outstanding - basic and fully diluted | 5,585,418 | 5,315,418 | 5,585,418 | 5,195,597 |
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Statements of Cash Flows (USD $)
|
9 Months Ended | |
---|---|---|
Apr. 30, 2012
|
Apr. 30, 2011
|
|
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net (loss) | $ (89,469) | $ (84,413) |
Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
Depreciation | 0 | 476 |
(Increase) Decrease in accounts receivable | (431) | (371) |
Decrease (Increase) in inventory | (13,110) | (10,657) |
Increase (Decrease) in accounts payable | 63,663 | 56,065 |
Increase in cash overdraft | 41 | 0 |
Increase (Decrease) in other accrued expenses | 3,576 | 2,860 |
Net cash from (used by) operating activities | (35,730) | (36,040) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Payments on notes receivable | 4,320 | 3,111 |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Loans from (payments to) stockholders | 11,700 | 31,550 |
Net Increase (decrease) in cash | (19,710) | (1,379) |
Cash and equivalents - beginning | 19,710 | 2,426 |
Cash and equivalents - ending | 0 | 1,047 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION | ||
Interest | 229 | 243 |
Income Taxes | $ 0 | $ 0 |