0001144204-12-059538.txt : 20121106 0001144204-12-059538.hdr.sgml : 20121106 20121105182555 ACCESSION NUMBER: 0001144204-12-059538 CONFORMED SUBMISSION TYPE: 10-Q/A PUBLIC DOCUMENT COUNT: 7 CONFORMED PERIOD OF REPORT: 20120831 FILED AS OF DATE: 20121106 DATE AS OF CHANGE: 20121105 FILER: COMPANY DATA: COMPANY CONFORMED NAME: USA InvestCo Holdings, Inc. CENTRAL INDEX KEY: 0001512983 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-ADVERTISING [7310] IRS NUMBER: 331219888 STATE OF INCORPORATION: NV FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: 10-Q/A SEC ACT: 1934 Act SEC FILE NUMBER: 333-172842 FILM NUMBER: 121181336 BUSINESS ADDRESS: STREET 1: 720 NORTH 3RD ST, STREET 2: SUITE 301 CITY: WILMINGTON, STATE: NC ZIP: 28401 BUSINESS PHONE: (910) 251-6160 MAIL ADDRESS: STREET 1: 720 NORTH 3RD ST, STREET 2: SUITE 301 CITY: WILMINGTON, STATE: NC ZIP: 28401 FORMER COMPANY: FORMER CONFORMED NAME: LAMBENT SOLUTIONS CORP. DATE OF NAME CHANGE: 20110214 10-Q/A 1 v327398_10q-a.htm FROM 10-Q/A

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q/A

(AMENDMENT NO. 1)

   
   
x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
  For the quarterly period ended August 31, 2012
   
OR  
   
¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

Commission file number: 333-172842

 

 

USA InvestCo Holdings, Inc.

(Exact name of registrant as specified in its charter)

 

 Nevada   33-1219888
(State or other jurisdiction of incorporation or organization)    (I.R.S. Employer Identification No.)
     

720 North 3rd St, Suite 301

Wilmington, NC

  28401
 (Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code (910) 251-6160

 

Not Applicable

(Former Name or Former Address if Changed Since Last Report)

 

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No o

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes x      No  o

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer, “accelerated filer,” “non-accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer o   Accelerated filer         o            
Non-accelerated filer  o   (Do not check if a smaller reporting company)   Smaller reporting company x  
       

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes x      No  o

 

State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date: 5,540,000 as of November 4, 2012.

 
 

 

 

Explanatory Note

 

This Amendment No. 1 to the USA InvestCo Holdings, Inc. (the “Company”) Quarterly Report on Form 10-Q for the quarterly period ending August 31, 2012, as filed with the Securities and Exchange Commission on October 22, 2012 (the “Form 10-Q”), is filed solely to furnish Exhibit 101 to the Form 10-Q, as required by Rule 405 of Regulation S-T. The Company is filing this Amendment No. 1 within 30 days after the filing date of the Form 10-Q in accordance with Rule 405(a)(2)(ii) of Regulation S-T.

 

No other changes have been made to the Form 10-Q. This Amendment No. 1 does not otherwise change or update the disclosures set forth in the Form 10-Q as originally filed and does not otherwise reflect events occurring after the original filing of the Form 10-Q.

 

Pursuant to Rule 406T of Regulation S-T, the interactive data files on Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.

 

 

ITEM 6. EXHIBITS.

 

(a)  Exhibits

 

Exhibit Number   Description
31.1*   Certification of Principal Executive Officer and Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1*   Certification of Principal Executive Officer and Principal Financial Officer pursuant to 18 U.S.C Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS **   XBRL Instance Document
101.SCH **   XBRL Taxonomy Schema
101.CAL **   XBRL Taxonomy Calculation Linkbase
101.DEF **   XBRL Taxonomy Definition Linkbase
101.LAB **   XBRL Taxonomy Label Linkbase
101.PRE **   XBRL Taxonomy Presentation Linkbase

 

* These exhibits were previously furnished or filed with the Form 10-Q.

 

** Furnished herewith. XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

 
 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  USA INVESTCO HOLDINGS, INC.
     
Date:  November 5, 2012 By: /s/ Charles Schoninger
    Charles Schoninger, President
    Chief Executive Officer, Chief Financial Officer (Principal Executive Officer and Principal Financial Officer) and Director

 

 
 

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The update only requires additional disclosures, as such, we do not expect that the adoption of this standard will have a material impact on our results of operations, cash flows or financial condition.</p> 4500000 0.001 0.02 0.001 126000 0.81227 2012-07-25 1500 0 -26264 -4171 -18753 0.001 0.02 XML 8 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; word-wrap: break-word; } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 9 R9.htm IDEA: XBRL DOCUMENT v2.4.0.6
STOCKHOLDERS' EQUITY
6 Months Ended
Aug. 31, 2012
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Note Disclosure [Text Block]
NOTE 2 STOCKHOLDERS’EQUITY

 

(A) In-Kind Contribution

 

For the six months ended August 31, 2012, a shareholder of the Company contributed services having a fair value of $1,500 (See Note 4).

 

(B) Stock Issued for Cash

 

On February 22, 2011, the Company issued 4,500,000 shares of common stock to its sole director having a fair value of $4,500 ($0.001/share) in exchange for services (See Note 4).

 

For the year ended February 29, 2012 the Company sold 1,040,000 common shares at $0.02 per share to various investors, for gross proceeds of $20,800.

 

The authorized capital of the Company is 75,000,000 common shares with a par value of $0.001 per share.

 

(C) Change of Control and Name Change

 

On July 25, 2012, the Company entered into a Stock Purchase Agreement (the “SPA”) with the former sole director and officer of the Company (the “Seller”), and the current sole director and officer (the “Purchaser”), under which the Purchaser purchased 4,500,000 shares of common stock, par value $0.001 per share, of the Company, constituting 81.227% of the issued and outstanding shares of common stock of the Company. The SPA closed and the Change of Control occurred on July 25, 2012.

  

On September 5, 2012, the Company amended its Articles of Incorporation to change its name to USA InvestCo Holdings, Inc.

 

(D) Expenses paid on Company’s’ behalf

 

During the six months ended August 31, 2012, the former controlling stockholders(prior to the Purchase Agreement) paid $21,200 of accounts payable and forgave a related party note payable of $12,378 on the Company’s behalf. The $33,578 was recorded as an in kind contribution of capital (See Notes 3 and 4).

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION
6 Months Ended
Aug. 31, 2012
Organization, Consolidation and Presentation Of Financial Statements  
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION

 

(A) Basis of Presentation.

 

USA InvestCo Holdings, Inc. (a development stage company) (the "Company") was incorporated under the laws of the State of Nevada on January 20, 2011 under the name of Lambent Solutions Corp.

 

On July 25, 2012, the Company entered into a Stock Purchase Agreement (the “SPA”) with the former sole director and officer of the Company (the “Seller”), and the current sole director and officer (the “Purchaser”), under which the Purchaser purchased 4,500,000 shares of common stock, par value $0.001 per share, of the Company (the “Shares”), for an aggregate purchase price of $126,000, payable in full to the Seller (a “Change of Control”). The Shares represent all of the Seller’s interest in and to any securities of the Company, and make up 81.227% of the issued and outstanding shares of common stock of the Company. The SPA closed and the Change of Control occurred on July 25, 2012.

 

In connection with the Change of Control, on September 5, 2012, the Company amended its Articles of Incorporation to change its name to USA InvestCo Holdings, Inc.

 

The Company previously offered an advertising system for real estate brokers and agents. The Company has ceased operations in this area in anticipation of a potential merger with USA Holdings, Inc. The Company has not entered into any definitive agreement with USA Holdings, Inc. as of the date hereof. The Company does not currently have any operations.

 

The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules and regulations of the Securities and Exchange Commission for interim financial information. Accordingly, they do not include all the information necessary for a comprehensive presentation of financial position and results of operations.

 

It is management’s opinion however, that all material adjustments (consisting of normal recurring adjustments) have been made, which are necessary for a fair financial statements presentation. The results for the interim period are not necessarily indicative of the results to be expected for the year

 

(B) Use of Estimates

 

In preparing financial statements in conformity with generally accepted accounting principles, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reported period. Significant estimates include the valuation of deferred taxes assets and the valuation of in kind contribution of services and interest. Actual results could differ from those estimates.

 

(C) Cash and Cash Equivalents

 

The Company considers all highly liquid temporary cash investments with an original maturity of three months or less to be cash equivalents. At August 31, 2012 and February 29, 2012, the Company had no cash equivalents.

 

(D) Loss Per Share

 

Basic and diluted net loss per common share is computed based upon the weighted average common shares outstanding as defined by FASB ASC No. 260, “Earnings Per Share.” As of August 31, 2012 and 2011 there were no common share equivalents outstanding.

 

(E) Income Taxes

 

The Company accounts for income taxes under FASB Codification Topic 740-10-25 (“ASC 740-10-25”). Under ASC 740-10-25, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carryingamounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC 740-10-25, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

 

(F) Business Segments

 

The Company operates in one segment and therefore segment information is not presented.

 

(G) Revenue Recognition

 

The Company will recognize revenue on arrangements in accordance with FASB ASC No. 605, “Revenue Recognition”. In all cases, revenue is recognized only when the price is fixed and determinable, persuasive evidence of an arrangement exists, the service is performed and collectability of the resulting receivable is reasonably assured.

 

(H) Recent Accounting Pronouncements

 

In July 2012, the FASB issued updated guidance on the periodic testing of indefinite-lived intangible assets, other than goodwill, for impairment. This updated guidance will allow companies the option to first assess qualitative factors to determine if it is more-likely-than-not that an indefinite-lived intangible asset might be impaired and whether it is necessary to perform the quantitative impairment test required under current accounting standards. This guidance is applicable for reporting periods beginning after September 15, 2012.

 

In December 2011, FASB issued Accounting Standards Update 2011-11, Balance Sheet - Disclosures about Offsetting Assets and Liabilities” to enhance disclosure requirements relating to the offsetting of assets and liabilities on an entity's balance sheet. The update requires enhanced disclosures regarding assets and liabilities that are presented net or gross in the statement of financial position when the right of offset exists, or that are subject to an enforceable master netting arrangement. The new disclosure requirements relating to this update are retrospective and effective for annual and interim periods beginning on or after January 1, 2013. The update only requires additional disclosures, as such, we do not expect that the adoption of this standard will have a material impact on our results of operations, cash flows or financial condition.

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Condensed Balance Sheets (USD $)
Aug. 31, 2012
Feb. 29, 2012
Current Assets    
Cash   $ 7,084
Prepaid Expense   2,926
Total Assets   10,010
Current Liabilities    
Accounts Payable 399  
Note Payable - Related Party   4,156
Total Liabilities 399 4,156
Commitments and Contingencies      
Stockholders' Deficiency    
Common stock, $0.001 par value; 75,000,000 shares authorized, 5,540,000 shares and 5,540,000 shares issued and outstanding, respectively 5,540 5,540
Additional paid-in capital 54,838 19,760
Deficit accumulated during the development stage (60,777) (19,446)
Total Stockholders' Deficiency (399) 5,854
Total Liabilities and Stockholders' Deficiency   $ 10,010
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Condensed Statement of Changes in Stockholders' Equity (Deficiency) [Parenthetical] (USD $)
1 Months Ended 12 Months Ended
Feb. 28, 2011
Feb. 29, 2012
Stock Issued During Period For Services Price Per Share $ 0.001  
Stock Issued During Period For Cash Price Per Share   $ 0.02
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Condensed Statements of Cash Flows (USD $)
6 Months Ended 12 Months Ended 19 Months Ended
Aug. 31, 2012
Aug. 31, 2011
Feb. 29, 2012
Aug. 31, 2012
Cash Flows Used in Operating Activities:        
Net Loss $ (41,331) $ (10,699) $ (18,753) $ (60,777)
Adjustments to reconcile net loss to net cash used in operations        
In-kind contribution of services 1,500     1,500
Changes in operating assets and liabilities:        
(Increase)/Decrease in prepaid expenses 2,926 (6,926)    
Increase in accounts payable and accrued expenses 399     399
Net Cash Used In Operating Activities (36,506) (17,625)   (58,878)
Cash Flows From Financing Activities:        
Contribution of capital by principal stockholder 21,200     21,200
Proceeds from note payable- Related party 8,222     12,378
Proceeds from issuance of common stock, net of offering costs   20,800   25,300
Net Cash Provided by Financing Activities 29,422 20,800   58,878
Net Increase (Decrease) in Cash (7,084) 3,175    
Cash at Beginning of Period 7,084 7,963 7,963  
Cash at End of Period 0 11,138 7,084 0
Supplemental disclosure of cash flow information:        
Cash paid for interest          
Cash paid for taxes         
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Condensed Balance Sheets [Parenthetical] (USD $)
Aug. 31, 2012
Feb. 29, 2012
Common Stock, Par or Stated Value Per Share $ 0.001 $ 0.001
Common Stock, Shares Authorized 75,000,000 75,000,000
Common Stock, Shares, Issued 5,540,000 5,540,000
Common Stock, Shares, Outstanding 5,540,000 5,540,000
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NOTE PAYABLE - RELATED PARTY (Details Textual) (USD $)
6 Months Ended 19 Months Ended
Aug. 31, 2012
Aug. 31, 2012
Feb. 29, 2012
Principal Stockholder Forgiven Loan Amount   $ 12,378  
Loans from related party - Director 8,222 12,378  
Note Payable - Related Party     $ 4,156
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Document and Entity Information
6 Months Ended
Aug. 31, 2012
Oct. 22, 2012
Document And Entity Information [Abstract]    
Entity Registrant Name USA InvestCo Holdings, Inc.  
Document Type 10-Q  
Document Period End Date Aug. 31, 2012  
Amendment Flag false  
Entity Central Index Key 0001512983  
Current Fiscal Year End Date --02-28  
Entity Common Stock, Shares Outstanding   5,540,000
Entity Filer Category Smaller Reporting Company  
Document Fiscal Year Focus 2013  
Document Fiscal Period Focus Q2  
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RELATED PARTY TRANSACTIONS (Details Textual) (USD $)
6 Months Ended 19 Months Ended
Aug. 31, 2012
Aug. 31, 2012
Feb. 29, 2012
In Kind Contribution Of Services Value $ 1,500    
Principal Stockholder Forgiven Loan Amount   12,378  
Loans from related party - Director 8,222 12,378  
Note Payable - Related Party     $ 4,156
XML 20 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Statements of Operations (USD $)
3 Months Ended 6 Months Ended 19 Months Ended
Aug. 31, 2012
Aug. 31, 2011
Aug. 31, 2012
Aug. 31, 2011
Aug. 31, 2012
Operating Expenses          
Professional fees $ 23,200   $ 25,500   $ 25,500
General and administrative 3,064 4,171 15,831 10,699 35,277
Total Operating Expenses 26,264 4,171 41,331 10,699 60,777
LOSS FROM OPERATIONS BEFORE INCOME TAXES (26,264) (4,171) (41,331) (10,699) (60,777)
Provision for Income Taxes               
NET LOSS $ (26,264) $ (4,171) $ (41,331) $ (10,699) $ (60,777)
Net Loss Per Share - Basic and Diluted $ 0.00 $ 0.00 $ (0.01) $ 0.00  
Weighted average number of shares outstanding during the period - Basic and Diluted 5,540,000 5,327,717 5,540,000 4,913,859  
XML 21 R12.htm IDEA: XBRL DOCUMENT v2.4.0.6
GOING CONCERN
6 Months Ended
Aug. 31, 2012
Development Stage Enterprises [Abstract]  
Development Stage Enterprise General Disclosures [Text Block]
NOTE 5 GOING CONCERN

 

As reflected in the accompanying unaudited condensed financial statements, the Company is in the development stage with minimal operations, used cash in operations of $58,878 from inception and has a net loss since inception of $60,777. There is also a working capital and stockholders’ deficiency of $399. This raises substantial doubt about its ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company’s ability to raise additional capital through shareholder loans and implement its business plan. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

 

Management believes that actions presently being taken to obtain additional funding and implement its strategic plans provide the opportunity for the Company to continue as a going concern. 

XML 22 R11.htm IDEA: XBRL DOCUMENT v2.4.0.6
RELATED PARTY TRANSACTIONS
6 Months Ended
Aug. 31, 2012
Related Party Transactions [Abstract]  
Related Party Transactions Disclosure [Text Block]
NOTE 4 RELATED PARTY TRANSACTIONS

 

For the six months ended August 31, 2012, a shareholder of the Company contributed services having a fair value of $1,500 (See Note 2(A)).

 

During the six months ended August 31, 2012, the former controlling stockholder (prior to the Purchase Agreement) forgave loans of $12,378 and this was recorded by the Company as contributed capital (See Note 3).

 

During the six month ended August 31, 2012 the Company received $8,222 from a former principal stockholder. Pursuant to the terms of the loan, the loan is non-interest bearing, unsecured and is due on demand (See Note 2(A)). As of February 29, 2012, the Company was indebted to the director of the Company for the amount of $4,156. The amount is due on demand, non-interest bearing and unsecured (See Note 3). The total of these two loans equals $12,378 and was subsequently forgiven as noted above.

  

On February 22, 2011, the Company issued 4,500,000 shares of common stock to its sole Directorhaving a fair value of $4,500 ($0.001/share) in exchange for services (See Note 2 (B)).

XML 23 R19.htm IDEA: XBRL DOCUMENT v2.4.0.6
GOING CONCERN (Details Textual) (USD $)
1 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended 19 Months Ended
Feb. 28, 2011
Aug. 31, 2012
Aug. 31, 2011
Aug. 31, 2012
Aug. 31, 2011
Feb. 29, 2012
Aug. 31, 2012
Jan. 19, 2011
Net cash (used) for operating activities       $ (36,506) $ (17,625)   $ (58,878)  
Net loss for the period (693) (26,264) (4,171) (41,331) (10,699) (18,753) (60,777)  
Total Stockholders' Deficiency $ 3,807 $ (399)   $ (399)   $ 5,854 $ (399)   
XML 24 R15.htm IDEA: XBRL DOCUMENT v2.4.0.6
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION (Details Textual) (USD $)
0 Months Ended
Jul. 25, 2012
Feb. 22, 2011
Date Of Change Of Control Jul. 25, 2012  
Stock Purchase Agreement [Member]
   
Sale of Stock, Number of Shares Issued in Transaction 4,500,000  
Sale of Stock, Price Per Share $ 0.001 $ 0.001
Sale Of Stock Consideration Payable On Transaction $ 126,000  
Equity Method Investment, Ownership Percentage 81.227%  
XML 25 R13.htm IDEA: XBRL DOCUMENT v2.4.0.6
SUBSEQUENT EVENTS
6 Months Ended
Aug. 31, 2012
Subsequent Events [Abstract]  
Subsequent Events [Text Block]
NOTE 6 SUBSEQUENT EVENTS

 

On September 5, 2012, the Company filed a Certificate of Amendment to its Articles of Incorporation (the “Name Change”) with the Secretary of State of the State of Nevada to change its name from “Lambent Solutions Corp.” to “USA InvestCo Holdings, Inc.”

 

The Name Change was effected in connection with the Company’s potential business combination with USA Holdings, Inc., a land development company that is primarily focused on projects in the coastal regions of North Carolina. The Company has not entered into any definitive agreement with USA Holdings, Inc. as of the date hereof. 

XML 26 R14.htm IDEA: XBRL DOCUMENT v2.4.0.6
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION (Policy)
6 Months Ended
Aug. 31, 2012
Organization, Consolidation and Presentation Of Financial Statements  
Basis of Presentation

(A) Basis of Presentation.

 

USA InvestCo Holdings, Inc. (a development stage company) (the "Company") was incorporated under the laws of the State of Nevada on January 20, 2011 under the name of Lambent Solutions Corp.

 

On July 25, 2012, the Company entered into a Stock Purchase Agreement (the “SPA”) with the former sole director and officer of the Company (the “Seller”), and the current sole director and officer (the “Purchaser”), under which the Purchaser purchased 4,500,000 shares of common stock, par value $0.001 per share, of the Company (the “Shares”), for an aggregate purchase price of $126,000, payable in full to the Seller (a “Change of Control”). The Shares represent all of the Seller’s interest in and to any securities of the Company, and make up 81.227% of the issued and outstanding shares of common stock of the Company. The SPA closed and the Change of Control occurred on July 25, 2012.

 

In connection with the Change of Control, on September 5, 2012, the Company amended its Articles of Incorporation to change its name to USA InvestCo Holdings, Inc.

 

The Company previously offered an advertising system for real estate brokers and agents. The Company has ceased operations in this area in anticipation of a potential merger with USA Holdings, Inc. The Company has not entered into any definitive agreement with USA Holdings, Inc. as of the date hereof. The Company does not currently have any operations.

 

The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules and regulations of the Securities and Exchange Commission for interim financial information. Accordingly, they do not include all the information necessary for a comprehensive presentation of financial position and results of operations.

 

It is management’s opinion however, that all material adjustments (consisting of normal recurring adjustments) have been made, which are necessary for a fair financial statements presentation. The results for the interim period are not necessarily indicative of the results to be expected for the year

Use of Estimates

B) Use of Estimates

 

In preparing financial statements in conformity with generally accepted accounting principles, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reported period. Significant estimates include the valuation of deferred taxes assets and the valuation of in kind contribution of services and interest. Actual results could differ from those estimates. 

Cash and Cash Equivalents

(C) Cash and Cash Equivalents

 

The Company considers all highly liquid temporary cash investments with an original maturity of three months or less to be cash equivalents. At August 31, 2012 and February 29, 2012, the Company had no cash equivalents.

 

Loss Per Share

D) Loss Per Share

 

Basic and diluted net loss per common share is computed based upon the weighted average common shares outstanding as defined by FASB ASC No. 260, “Earnings Per Share.” As of August 31, 2012 and 2011 there were no common share equivalents outstanding. 

Income Taxes

(E) Income Taxes

 

The Company accounts for income taxes under FASB Codification Topic 740-10-25 (“ASC 740-10-25”). Under ASC 740-10-25, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carryingamounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC 740-10-25, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. 

Business Segments

F) Business Segments

 

The Company operates in one segment and therefore segment information is not presented.

Revenue Recognition

(G) Revenue Recognition

 

The Company will recognize revenue on arrangements in accordance with FASB ASC No. 605, “Revenue Recognition”. In all cases, revenue is recognized only when the price is fixed and determinable, persuasive evidence of an arrangement exists, the service is performed and collectability of the resulting receivable is reasonably assured. 

Recent Accounting Pronouncements

(H) Recent Accounting Pronouncements

 

In July 2012, the FASB issued updated guidance on the periodic testing of indefinite-lived intangible assets, other than goodwill, for impairment. This updated guidance will allow companies the option to first assess qualitative factors to determine if it is more-likely-than-not that an indefinite-lived intangible asset might be impaired and whether it is necessary to perform the quantitative impairment test required under current accounting standards. This guidance is applicable for reporting periods beginning after September 15, 2012.

 

In December 2011, FASB issued Accounting Standards Update 2011-11, Balance Sheet - Disclosures about Offsetting Assets and Liabilities” to enhance disclosure requirements relating to the offsetting of assets and liabilities on an entity's balance sheet. The update requires enhanced disclosures regarding assets and liabilities that are presented net or gross in the statement of financial position when the right of offset exists, or that are subject to an enforceable master netting arrangement. The new disclosure requirements relating to this update are retrospective and effective for annual and interim periods beginning on or after January 1, 2013. The update only requires additional disclosures, as such, we do not expect that the adoption of this standard will have a material impact on our results of operations, cash flows or financial condition.

XML 27 R16.htm IDEA: XBRL DOCUMENT v2.4.0.6
STOCKHOLDERS' EQUITY (Details Textual) (USD $)
0 Months Ended 1 Months Ended 6 Months Ended 12 Months Ended 19 Months Ended 12 Months Ended 0 Months Ended
Jul. 25, 2012
Feb. 28, 2011
Aug. 31, 2012
Feb. 29, 2012
Aug. 31, 2012
Feb. 29, 2012
Investor [Member]
Jul. 25, 2012
Stock Purchase Agreement [Member]
Feb. 22, 2011
Stock Purchase Agreement [Member]
In Kind Contribution Of Services Value     $ 1,500          
Common stock issued for services to founders   4,500           4,500,000
Common stock issued for services to founders (in shares)               4,500
Sale of Stock, Price Per Share           $ 0.02 $ 0.001 $ 0.001
Common stock issued for cash       20,800   1,040,000    
Common stock issued for cash (in shares)           20,800    
Common Stock, Shares Authorized     75,000,000 75,000,000 75,000,000      
Common Stock, Par or Stated Value Per Share     $ 0.001 $ 0.001 $ 0.001      
Sale of Stock, Number of Shares Issued in Transaction             4,500,000  
Sale Of Stock Consideration Payable On Transaction             126,000  
Date Of Change Of Control Jul. 25, 2012              
Contribution of capital by principal stockholder     21,200   21,200      
Principal Stockholder Forgiven Loan Amount         $ 12,378      
XML 28 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Statement of Changes in Stockholders' Equity (Deficiency) (USD $)
Preferred stock
Common stock
Additional Paid-in Capital
Deficit accumulated during the development stage
Total
Balance at Jan. 19, 2011               
Balance (in shares) at Jan. 19, 2011            
Common stock issued for services to founders    4,500       4,500
Common stock issued for services to founders (in shares)    4,500,000      
Net loss for the period          (693) (693)
Balance at Feb. 28, 2011    4,500    (693) 3,807
Balance (in shares) at Feb. 28, 2011    4,500,000      
Common stock issued for cash    1,040 19,760    20,800
Common stock issued for cash (in shares)    1,040,000      
Net loss for the period          (18,753) (18,753)
Balance at Feb. 29, 2012    5,540 19,760 (19,446) 5,854
Balance (in shares) at Feb. 29, 2012    5,540,000      
In kind contribution of services       1,500    1,500
Payment of accounts payable by a related party on Company's behalf       21,200    21,200
Net loss for the period          (41,331) (41,331)
Balance at Aug. 31, 2012    $ 5,540 $ 54,838 $ (60,777) $ (399)
Balance (in shares) at Aug. 31, 2012    5,540,000      
XML 29 R10.htm IDEA: XBRL DOCUMENT v2.4.0.6
NOTE PAYABLE - RELATED PARTY
6 Months Ended
Aug. 31, 2012
Notes Payable Related Party [Abstract]  
Notes Payable Related Party Disclosure [Text Block]
NOTE 3 NOTE PAYABLE – RELATED PARTY

 

During the six months ended August 31, 2012, the former controlling stockholders forgave loans of $12,378 and this was recorded by the Company as contributed capital (See Note 4).

 

During the six months ended August 31, 2012 the Company received $8,222 from a former principal stockholder. Pursuant to the terms of the loan, the loan is non-interest bearing, unsecured and is due on demand (See Note 4). As of February 29, 2012, the Company was indebted to the director of the Company for the amount of $4,156. The amount is due on demand, non-interest bearing and unsecured (See Note 4). The total of these two loans equals $12,378 and was subsequently forgiven as noted above.

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