|
GOING CONCERN
|
6 Months Ended | ||||||
|---|---|---|---|---|---|---|---|
|
Sep. 30, 2012
|
|||||||
| Going Concern | |||||||
| Note 3. GOING CONCERN | The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the normal course of business. The Company has net losses for the period from inception to September 30, 2012 of $(42,570). The Company intends to fund its expenditures through equity financing arrangements, which may be insufficient to fund its proposed development expenditures, working capital and other cash requirements through the next fiscal year ending March 31, 2013.
The ability of the Company to emerge from the development stage is dependent upon the Companys successful efforts to raise sufficient capital for its business plans and then attaining profitable operations. In response to these issues, management has planned the following actions:
These factors, among others, raise substantial doubt about the Companys ability to continue as a going concern. These financial statements do not include any adjustments that might result from the outcome of this uncertainty. |
|
BASIS OF PRESENTATION
|
6 Months Ended |
|---|---|
|
Sep. 30, 2012
|
|
| Basis Of Presentation | |
| Note 2. BASIS OF PRESENTATION |
These unaudited interim financial statements have been prepared in accordance with United States generally accepted accounting principles for nterim reporting, and in accordance with rules of the Securities and Exchange Commission. In the opinion of management, all known adjustments have been made (which consist primarily of normal, recurring accruals and estimates, and assumptions that impact the financial statements) for fair presentation of the financial position and operating results as of and for the period March 9, 2011 (date of inception) to September 30, 2012. These unaudited interim financial statements should be read in conjunction with the audited financial statements and related footnotes for the fiscal year ended March 31, 2012. Notes to the financial statements, which would substantially duplicate the disclosures contained in the audited financial statements, have been omitted. Operating results for the six months ended September 30, 2012 are not necessarily indicative of the results that may be expected for the year ending March 31, 2013. |
|
BALANCE SHEETS (USD $)
|
Sep. 30, 2012
|
Mar. 31, 2012
|
|---|---|---|
| Current assets | ||
| Cash and bank accounts | $ 10,359 | $ 45,729 |
| Prepaid expense | 3,334 | 350 |
| Total current assets | 13,693 | 46,079 |
| Total assets | 13,693 | 46,079 |
| Current liabilities | ||
| Accounts payable and accrued liabilities | 160 | 160 |
| Total current liabilities | 160 | 160 |
| Stockholders' equity (Note 4,5) | ||
| Authorized: 75,000,000 common shares Par value $0.001 Issued and outstanding: 6,000,000 common shares | 6,000 | 6,000 |
| Additional paid-in capital | 50,103 | 49,653 |
| Deficit accumulated during the development stage | (42,570) | (9,734) |
| Total stockholders' equity | 13,533 | 45,919 |
| Total liabilities and stockholders' equity | $ 13,693 | $ 46,079 |
|
STATEMENTS OF CASH FLOWS(unaudited) (USD $)
|
6 Months Ended | 19 Months Ended | |
|---|---|---|---|
|
Sep. 30, 2012
|
Sep. 30, 2011
|
Sep. 30, 2012
|
|
| OPERATING ACTIVITIES | |||
| Net loss for the period | $ (32,836) | $ (6,025) | $ (42,570) |
| Changes in operating assets and liabilities: | |||
| Prepaid expense | (2,984) | (3,334) | |
| Accounts payable | 1,000 | 160 | |
| Net cash used for operating activities | (35,820) | (5,025) | (45,744) |
| INVESTING ACTIVITIES | |||
| Net cash used for investing activities | |||
| FINANCING ACTIVITIES | |||
| Payment of offering costs | (6,250) | (10,247) | |
| Contributed capital | 450 | 450 | 1,350 |
| Proceeds from issuance of common stock | 65,000 | ||
| Net cash (used for) provided by financing activities | 450 | (5,800) | 56,103 |
| (Decrease) increase in cash during the period | (35,370) | (10,825) | 10,359 |
| Cash, beginning of the period | 45,729 | 14,720 | |
| Cash, end of the period | 10,359 | 3,895 | 10,359 |
| Supplemental disclosure with respect to cash flows: | |||
| Cash paid for income taxes | |||
| Cash paid for interest | |||
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|
GENERAL ORGANIZATION AND BUSINESS
|
6 Months Ended |
|---|---|
|
Sep. 30, 2012
|
|
| General Organization And Business | |
| Note 1. GENERAL ORGANIZATION AND BUSINESS | The Company was originally incorporated under the laws of the state of Nevada on March 9, 2011. The Company is devoting substantially all of its present efforts to establish a new business. It is considered a development stage company, and has had no revenues from operations to date.
Initial operations have included organization and capital formation. Management is planning to develop and then market an internet based, social media online video game to prospective users. |
|
BALANCE SHEETS (Parenthetical) (USD $)
|
Sep. 30, 2012
|
Mar. 31, 2012
|
|---|---|---|
| Statement of Financial Position [Abstract] | ||
| Common stock Par value | $ 0.001 | $ 0.001 |
| Common stock, Authorized | 75,000,000 | 75,000,000 |
| Common stock, Issued | 6,000,000 | 6,000,000 |
| Common stock, outstanding | 6,000,000 | 6,000,000 |
|
RELATED PARTY TRANSACTIONS (Details Narrative) (USD $)
|
6 Months Ended | ||
|---|---|---|---|
|
Sep. 30, 2012
|
Mar. 31, 2012
|
Mar. 09, 2011
DirectorRelatedPartyMember
|
|
| Contribution to capital | $ 75 | ||
| Common Stock Issued | 6,000,000 | 6,000,000 | 5,000,000 |
| Common Stock Issued for cash | $ 15,000 |
|
Document and Entity Information
|
6 Months Ended | |
|---|---|---|
|
Sep. 30, 2012
|
Oct. 12, 2012
|
|
| Document And Entity Information | ||
| Entity Registrant Name | ISOFT INTERNATIONAL INC. | |
| Entity Central Index Key | 0001521013 | |
| Document Type | 10-Q | |
| Document Period End Date | Sep. 30, 2012 | |
| Amendment Flag | false | |
| Current Fiscal Year End Date | --03-31 | |
| Is Entity a Well-known Seasoned Issuer? | No | |
| Is Entity a Voluntary Filer? | No | |
| Is Entity's Reporting Status Current? | Yes | |
| Entity Filer Category | Smaller Reporting Company | |
| Entity Common Stock, Shares Outstanding | 6,000,000 | |
| Document Fiscal Period Focus | Q2 | |
| Document Fiscal Year Focus | 2012 |
|
STATEMENTS OF OPERATIONS(unaudited) (USD $)
|
3 Months Ended | 6 Months Ended | 19 Months Ended | ||
|---|---|---|---|---|---|
|
Sep. 30, 2012
|
Sep. 30, 2011
|
Sep. 30, 2012
|
Sep. 30, 2011
|
Sep. 30, 2012
|
|
| OPERATING EXPENSES | |||||
| General & administrative | $ 1,215 | $ 225 | $ 3,370 | $ 450 | $ 5,883 |
| Organization | 325 | 605 | |||
| Professional fees | 17,133 | 29,466 | 5,250 | 36,082 | |
| Loss before income taxes | (18,348) | (225) | (32,836) | (6,025) | (42,570) |
| Provision for income taxes | |||||
| Net loss | $ (18,348) | $ (225) | $ (32,836) | $ (6,025) | $ (42,570) |
| Basic and diluted loss per Common share (1) | |||||
| Weighted average number of common shares outstanding (Note 5) | 6,000,000 | 5,000,000 | 6,000,000 | 5,000,000 | |
|
SUBSEQUENT EVENTS
|
6 Months Ended |
|---|---|
|
Sep. 30, 2012
|
|
| Subsequent Events [Abstract] | |
| Note 6. SUBSEQUENT EVENTS | In accordance with SFAS 165 (ASC 855-10) the Company has analyzed its operations subsequent to September 30, 2012 and has determined that it does not have any material subsequent events to disclose in these financial statements. |
|
RELATED PARTY TRANSACTIONS
|
6 Months Ended |
|---|---|
|
Sep. 30, 2012
|
|
| Related Party Transactions [Abstract] | |
| Note 5. RELATED PARTY TRANSACTIONS | The Companys officer and director provides office space free of charge. The Company has recorded the estimated value of the office space of $75 per month as a contribution to capital.
The Companys officer and director is involved in other business activities and may, in the future, become involved in other business opportunities. If a specific business opportunity becomes available, such persons may face a conflict in selecting between the Company and their other business interests. The Company has not formulated a policy for the resolution of such conflicts.
On March 9, 2011, the Company issued 5,000,000 shares of its common stock to its President, Secretary Treasurer and Director for cash of $15,000. See Note 5. |
|
GOING CONCERN (Details Narrative) (USD $)
|
3 Months Ended | 6 Months Ended | 12 Months Ended | 19 Months Ended | ||
|---|---|---|---|---|---|---|
|
Sep. 30, 2012
|
Sep. 30, 2011
|
Sep. 30, 2012
|
Sep. 30, 2011
|
Mar. 31, 2012
|
Sep. 30, 2012
|
|
| Going Concern | ||||||
| Net losses | $ (18,348) | $ (225) | $ (32,836) | $ (6,025) | $ (9,294) | $ (42,570) |
|
BASIS OF PRESENTATION (Policies)
|
6 Months Ended | ||||||
|---|---|---|---|---|---|---|---|
|
Sep. 30, 2012
|
|||||||
| Basis Of Presentation | |||||||
| BASIS OF PRESENTATION | These unaudited interim financial statements have been prepared in accordance with United States generally accepted accounting principles for interim reporting, and in accordance with rules of the Securities and Exchange Commission. In the opinion of management, all known adjustments have been made (which consist primarily of normal, recurring accruals and estimates, and assumptions that impact the financial statements) for fair presentation of the financial position and operating results as of and for the period March 9, 2011 (date of inception) to September 30, 2012.
These unaudited interim financial statements should be read in conjunction with the audited financial statements and related footnotes for the fiscal year ended March 31, 2012. Notes to the financial statements, which would substantially duplicate the disclosures contained in the audited financial statements, have been omitted. Operating results for the six months ended September 30, 2012 are not necessarily indicative of the results that may be expected for the year ending March 31, 2013. |
||||||
| GOING CONCERN | The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the normal course of business. The Company has net losses for the period from inception to September 30, 2012 of $(42,570). The Company intends to fund its expenditures through equity financing arrangements, which may be insufficient to fund its proposed development expenditures, working capital and other cash requirements through the next fiscal year ending March 31, 2013.
The ability of the Company to emerge from the development stage is dependent upon the Companys successful efforts to raise sufficient capital for its business plans and then attaining profitable operations. In response to these issues, management has planned the following actions:
These factors, among others, raise substantial doubt about the Companys ability to continue as a going concern. These financial statements do not include any adjustments that might result from the outcome of this uncertainty. |
|
GENERAL ORGANIZATION AND BUSINESS (Details Narrative)
|
6 Months Ended |
|---|---|
|
Sep. 30, 2012
|
|
| General Organization And Business | |
| State of incorporation | Nevada |
| Date of incorporation | Mar. 09, 2011 |
|
STOCKHOLDERS' EQUITY (Details Narrative) (USD $)
|
12 Months Ended | ||
|---|---|---|---|
|
Mar. 31, 2012
|
Sep. 30, 2012
|
Mar. 09, 2011
Director1Member
|
|
| Common stock, authorized | 75,000,000 | 75,000,000 | |
| Common stock, par value | $ 0.001 | ||
| Subscriptions for common stock | $ 1,000,000 | ||
| Proceeds subscriptions for common stock | 50,000 | ||
| Par value of common stock subscribed | $ 0.05 | ||
| Company issued | 6,000,000 | 6,000,000 | 5,000,000 |
| Issued for cash | 15,000 | ||
| Subsequent to offsetting offering costs | 10,247 | ||
| Capital, net proceeds | $ 39,753 | ||
| Voting rights | the holders of more than 50% of the common stock could, if they choose to do so, elect all of the directors of the Company |
|
STOCKHOLDERS' EQUITY
|
6 Months Ended |
|---|---|
|
Sep. 30, 2012
|
|
| Stockholders' equity (Note 4,5) | |
| Note 4. STOCKHOLDERS' EQUITY | Authorized
The Company is authorized to issue 75,000,000 shares of $0.001 par value common stock. All common stock shares have equal voting rights, are non-assessable and have one vote per share. Voting rights are not cumulative and, therefore, the holders of more than 50% of the common stock could, if they choose to do so, elect all of the directors of the Company.
Issued and Outstanding
On March 9, 2011 (inception), the Company issued 5,000,000 common shares to its President, Secretary Treasurer and Director for cash of $15,000. See Note 5.
During the fiscal year ended March 31, 2012, the Company accepted subscriptions for 1,000,000 shares of common stock under its registered offering for gross proceeds of $50,000, or $0.05 per share. Subsequent to offsetting offering costs of $10,247 against capital, net proceeds were $39,753. |