UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
____________________________
FORM 10-Q
____________________________
[X] QUARTERLY REPORT PURSUANT SECTION 13 OR 15(D) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2012
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from _______________ to _______________
Commission File # 333-174894
GAIA REMEDIES, INC.
(Exact name of small business issuer as specified in its charter)
Nevada
(State or other jurisdiction of incorporation or organization)
38-3832726
(IRS Employer Identification Number)
13140 70th Lane NE, Kirkland, Washington 98034
(Address of principal executive offices)
(425) 224-2471
(Issuers telephone number)
Indicate by check mark whether the registrant(1) has filed all reports required 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 day. [X] Yes [ ] No
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 and smaller reporting company in Rule 12b-2 of the Exchange Act.
| Large accelerated filer [ ] | Accelerated filer [ ] |
| Non-accelerated filer [ ] (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 Act). [X] Yes [ ] No
Indicate the number of shares outstanding of each of the registrants classes of common stock, as of the latest practicable date. The issuer had 5,557,500 shares of common stock issued and outstanding as of November 7, 2012.
2
PART I FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
GAIA REMEDIES, INC.
(A DEVELOPMENT STAGE COMPANY)
BALANCE SHEETS
As of September 30, 2012 and March 31, 2012
| ASSETS |
| September 30, 2012 |
| March 31, 2012 | ||
|
|
| (unaudited) |
|
| ||
| Current assets |
|
|
|
| ||
| Cash |
| $ | 1,571 |
| $ | 12,686 |
| Total current assets |
|
| 1,571 |
|
| 12,686 |
| Total assets |
| $ | 1,571 |
| $ | 12,686 |
|
|
|
|
|
|
|
|
| LIABILITIES AND STOCKHOLDERS EQUITY |
|
|
|
|
|
|
| Current liabilities |
|
|
|
|
|
|
| Accounts payable and accrued liabilities |
| $ | 750 |
| $ | - |
| Total current liabilities |
|
| 750 |
|
| - |
| Total liabilities |
|
| 750 |
|
| - |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| STOCKHOLDERS EQUITY |
|
|
|
|
|
|
| Common stock, $.001 par value, 100,000,000 shares authorized, 5,557,500 shares issued and outstanding |
|
| 5,558 |
|
| 5,558 |
| Additional paid in capital |
|
| 40,992 |
|
| 40,992 |
| Deficit accumulated during the development stage |
|
| (45,729) |
|
| (33,864) |
| Total stockholders equity |
|
| 821 |
|
| 12,686 |
|
|
|
|
|
|
|
|
| TOTAL LIABILITIES AND STOCKHOLDERS EQUITY |
| $ | 1,571 |
| $ | 12,686 |
See accompanying notes to financial statements.
3
GAIA REMEDIES, INC.
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF OPERATIONS
For the three months and six months ended September 30, 2012 and 2011 and
for the period from December 15, 2010 (Inception) through September 30, 2012
(unaudited)
|
|
| Three months ended September 30, 2012 |
| Three months ended September 30, 2011 |
| Six months ended September 30, 2012 |
| Six months ended September 30, 2011 |
| Inception through September 30, 2012 | |||||
| General and administrative expenses: |
|
|
|
|
|
|
|
|
|
| |||||
| Professional fees |
| $ | 3,088 |
| $ | 4,781 |
| $ | 9,216 |
| $ | 19,085 |
| $ | 38,484 |
| Other |
|
| 1,461 |
|
| 1,338 |
|
| 2,649 |
|
| 2,407 |
|
| 7,245 |
| Total general and administrative expenses |
|
| 4,549 |
|
| 6,119 |
|
| 11,865 |
|
| 21,492 |
| $ | 45,729 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss |
| $ | (4,549) |
| $ | (6,119) |
| $ | (11,865) |
| $ | (21,492) |
| $ | (45,729) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss per share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic and diluted |
| $ | (0.00) |
| $ | (0.00) |
| $ | (0.00) |
| $ | (0.00) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted average shares outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic and diluted |
|
| 5,557,500 |
|
| 5,557,500 |
|
| 5,557,500 |
|
| 5,557,500 |
|
|
|
See accompanying notes to financial statements.
4
GAIA REMEDIES, INC.
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF CASH FLOWS
For the six months ended September 30, 2012 and 2011 and
for the period from December 15, 2010 (Inception) through September 30, 2012
(unaudited)
|
|
| Six months ended September 30, 2012 |
| Six months ended September 30, 2011 |
| Inception through September 30, 2012 | |||
|
|
|
|
|
|
|
| |||
| CASH FLOWS FROM OPERATIONS |
|
|
|
|
|
| |||
| Net loss |
| $ | (11,865) |
| $ | (21,492) |
| $ | (45,729) |
| Adjustments to reconcile net loss to cash used by operating activities |
|
|
|
|
|
|
|
|
|
| Increase in accrued expenses |
|
| 750 |
|
| 1,948 |
|
| 750 |
| CASH FLOWS USED IN OPERATING ACTIVITIES |
|
| (11,115) |
|
| (19,544) |
|
| (44,979) |
|
|
|
|
|
|
|
|
|
|
|
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sale of common stock |
|
| - |
|
| - |
|
| 46,550 |
|
|
|
|
|
|
|
|
|
|
|
| CASH FLOWS PROVIDED BY FINANCING ACTIVITIES |
|
| - |
|
| - |
|
| 46,550 |
|
|
|
|
|
|
|
|
|
|
|
| NET CHANGE IN CASH |
|
| (11,115) |
|
| (19,544) |
|
| 1,571 |
|
|
|
|
|
|
|
|
|
|
|
| Cash, beginning of period |
|
| 12,686 |
|
| 41,822 |
|
| - |
| Cash, end of period |
| $ | 1,571 |
| $ | 22,278 |
| $ | 1,571 |
|
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|
|
|
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|
|
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|
| SUPPLEMENTAL CASH FLOW INFORMATION |
|
|
|
|
|
|
|
|
|
| Interest paid |
| $ | - |
| $ | - |
| $ | - |
|
|
|
|
|
|
|
|
|
|
|
| Income tax paid |
| $ | - |
| $ | - |
| $ | - |
See accompanying notes to financial statements.
5
GAIA REMEDIES, INC.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2012
(unaudited)
NOTE 1 - NATURE OF BUSINESS
Nature of Business
Gaia Remedies, Inc. (Gaia or the Company) was incorporated in Nevada on December 15, 2010. Gaia is in the business of the online retail sale of all natural pet remedies. Gaia is a development stage company and has not yet realized any revenues from its planned or any other operations.
The accompanying unaudited interim financial statements have been prepared by the Company pursuant to the rules and regulations of the United States Securities and Exchange Commission and should be read in conjunction with the audited financial statements and notes thereto contained in the Companys Annual Report on Form 10-K. Certain information and disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, all adjustments and disclosures necessary for a fair presentation of these financial statements have been included. Such adjustments consist of normal recurring adjustments. Operating results for the six months ended September 30, 2012 are not necessarily indicative of the results that may be expected for the full year ending March 31, 2013.
NOTE 2 - GOING CONCERN
Gaia has a net loss and has a deficit accumulated during the development stage of $45,729 as of September 30, 2012. Gaia's financial statements are prepared using the generally accepted accounting principles applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. However, Gaia has no current source of revenue, which raises substantial doubt about the Companys ability to continue as a going concern. Without realization of additional capital, it would be unlikely for Gaia to continue as a going concern. Gaias management plans on raising cash from public or private debt or equity financing, on an as needed basis and in the longer term, revenues from the operations of its online retail business. Gaias ability to continue as a going concern is dependent on these additional cash financings, and, ultimately, upon achieving profitable operations through the operation of its online retail business or otherwise.
6
NOTE 3 - ADVANCE FROM SHAREHOLDER
A shareholder of the Company has offered a shareholder loan facility up to $100,000. The loan facility is unsecured and bears interest at 5% per annum and is payable on demand after June 30, 2013. As of September 30, 2012, the amount outstanding under the shareholder loan facility was $ nil.
7
ITEM 2. MANAGEMENTS DISCUSSION AND ANALYSIS OR PLAN OF OPERATION
Forward-looking statements
This quarterly report on Form 10-Q contains "forward-looking statements" relating to the registrant which represent the registrant's current expectations or beliefs, including statements concerning registrants operations, performance, financial condition and growth. For this purpose, any statement contained in this quarterly report on Form 10-Q that are not statements of historical fact are forward-looking statements. Without limiting the generality of the foregoing, words such as "may", "anticipation", "intend", "could", "estimate", or "continue" or the negative or other comparable terminology are intended to identify forward-looking statements. These statements by their nature involve substantial risks and uncertainties, such as credit losses, dependence on management and key personnel and variability of quarterly results, ability of registrant to continue its growth strategy and competition, certain of which are beyond the registrant's control. Should one or more of these risks or uncertainties materialize or should the underlying assumptions prove incorrect, actual outcomes and results could differ materially from those indicated in the forward-looking statements.
The following discussion and analysis should be read in conjunction with the information set forth in the Companys audited financial statements for the period ended March 31, 2012.
Overview
We are a development stage company with plans to enter into the business of the online retail sale of herbal and homeopathic pet remedies, healthy organic pet treats and pet accessories. We plan to sell products consisting of a wide variety of healthy living and wellness products for animals, such as vitamins, dietary supplements, herbal tinctures, flower remedies, homeopathic remedies, as well as pet treats like: chicken, liver, and beef dog treats, bully sticks and dog chews. We intend to sell these products through an internet website located at www.gaiaremedies.com (the "Website").
Our company, based in Kirkland, Washington, was incorporated under the laws of Nevada on December 15, 2010. Our principal executive offices are located at 13140 70th Lane NE, Kirkland, Washington and our telephone number is (425) 224-2471. Our website address is www.gaiaremedies.com.
Plan of Operation
Our plan of operation is to finish construction of our website and commence selling our product line.
8
Results of Operations
Six Months Ended September 30, 2012 and 2011
Revenues
We did not generate any revenues during the reporting period.
Expenses
We incurred operating expenses in the amount of $11,865 during the six months ended September 30, 2012 compared to $21,492 for the corresponding period in 2011.
Net Loss
We incurred a net loss of $11,865 during the six months ended September 30, 2012, compared to a net loss of $21,492 for the corresponding period in 2011.
Three Months Ended September 30, 2012 and 2011
Revenues
We did not generate any revenues during the reporting period.
Expenses
We incurred operating expenses in the amount of $4,549 during the three months ended September 30, 2012 compared to $6,119 for the corresponding period in 2011.
Net Loss
We incurred a net loss of $4,549 during the three months ended September 30, 2012, compared to a net loss of $6,119 for the corresponding period in 2011.
LIQUIDITY AND CAPITAL RESOURCES
Since its inception, the Company has financed its cash requirements from the sale of common stock. Uses of funds have included activities to establish our business, professional fees and other general and administrative expenses.
The Companys principal sources of liquidity as of September 30, 2012 consisted of $1,571 in cash and cash equivalents and a shareholder loan facility up to $100,000 from a director and principal shareholder.
9
Under the shareholder loan facility from Peter P. Hedly, loan advances to or on behalf of the Company bear interest at 5% per annum. The Company is required to repay the outstanding principal and interest at any time after June 30, 2013, on demand. Prepayment of all or a portion of the outstanding principal and interest may be made by the Company at any time without notice, bonus or penalty.
The amount outstanding under shareholder loan facilities was $ nil as of September 30, 2012.
We believe the Company will have adequate resources to implement its strategic objectives in upcoming quarters. Due to our lack of operating history and present inability to generate revenues, however, our auditors have stated their opinion that there currently exists substantial doubt about our ability to continue as a going concern.
Material Events and Uncertainties
Our operating results are difficult to forecast. Our prospects should be evaluated in light of the risks, expenses and difficulties commonly encountered by comparable exploration stage companies.
There can be no assurance that we will successfully address such risks, expenses and difficulties.
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.
We are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information required under this item.
ITEM 4. CONTROLS AND PROCEDURES
Disclosure controls and procedures
As of the end of the period covered by this report (the Evaluation Date), the Company carried out an evaluation, under the supervision and with the participation of the Company's Principal Executive Officer and Principal Financial Officer (the Certifying Officers) of the effectiveness of the design and operation of the Company's disclosure controls and procedures (as defined in rules 13a-15(e) and 15d-15(e)) under the Exchange Act. Based on that evaluation, the Certifying Officers have concluded that, as of the Evaluation Date, the disclosure controls and procedures in place were adequate to ensure that information required to be disclosed by us in reports that we file or submit under the Exchange Act, is recorded, processed, summarized and reported on a timely basis in accordance with applicable rules and regulations.
10
Internal control over financial reporting
The Certifying Officers reviewed our internal control over financial reporting (as defined in rules 13a-15(f) and 15d-15(f)) under the Exchange Act as of the Evaluation Date and concluded that no changes occurred in such control or in other factors during the quarter ended September 30, 2012 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
11
PART II OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
There is no litigation pending or threatened by or against us.
ITEM 1A. RISK FACTORS
We are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information required under this item.
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
The Company did not make any sales of equity securities during the quarter.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
The Company has no senior securities outstanding.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
During the quarter ended September 30, 2012, no matters were submitted to a vote of the Company's security holders, through the solicitation of proxies or otherwise.
ITEM 5. OTHER INFORMATION
(a) No matters arose during the quarter which required the Company to report any information through the filing of a current report on Form 8-K.
(b) During the quarter there were no material changes to the procedures by which security holders may recommend nominees to the registrants board of directors.
12
ITEM 6. EXHIBITS
EXHIBIT INDEX
| Number | Exhibit Description |
|
|
|
| 3.1 | Articles of Incorporation of Gaia Remedies, Inc. * |
|
|
|
| 3.2 | Bylaws of Gaia Remedies, Inc.* |
|
|
|
| 31.1 | Certificate of principal executive officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|
|
|
| 31.2 | Certificate of principal financial officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|
|
|
| 32.1 | Certificate 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 |
* Filed as an exhibit to our registration statement on Form S-1 filed June 15, 2011 and incorporated herein by this reference
13
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
GAIA REMEDIES, INC.
/s/ Peter P. Hedly
Peter P. Hedly
President (Principal Executive Officer) and Treasurer (Principal Financial Officer)
November 13, 2012
14
Exhibit 31.1
CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002
I, Peter P. Hedly, President, certify that:
1.
I have reviewed this quarterly report on Form 10-Q of Gaia Remedies, Inc. (the Company);
2
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the Company as of, and for, the periods presented in this report;
4.
The Companys other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the Company and have:
a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Company, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c) evaluated the effectiveness of the Companys disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as the end of the period covered by this report based on such evaluation; and
d) disclosed in this report any change in the Companys internal control over financial reporting that occurred during the Companys most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Companys internal control over financial reporting; and
5.
The Companys other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the Companys auditors and the audit committee of the Companys board of directors (or persons performing the equivalent function):
a) all significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the Companys ability to record, process, summarize and report financial information; and
b) any fraud, whether or not material, that involves management or other employees who have a significant role in the Companys internal controls over financial reporting.
Date: November 13, 2012
/s/ Peter P. Hedly
Peter P. Hedly
President (Principal Executive Officer)
Exhibit 31.2
CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002
I, Peter P. Hedly, Treasurer, certify that:
1.
I have reviewed this quarterly report on Form 10-Q of Gaia Remedies, Inc. (the Company);
2
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the Company as of, and for, the periods presented in this report;
4.
The Companys other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the Company and have:
a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Company, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c) evaluated the effectiveness of the Companys disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as the end of the period covered by this report based on such evaluation; and
d) disclosed in this report any change in the Companys internal control over financial reporting that occurred during the Companys most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Companys internal control over financial reporting; and
5.
The Companys other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the Companys auditors and the audit committee of the Companys board of directors (or persons performing the equivalent function):
a) all significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the Companys ability to record, process, summarize and report financial information; and
b) any fraud, whether or not material, that involves management or other employees who have a significant role in the Companys internal controls over financial reporting.
Date: November 13, 2012
/s/ Peter P. Hedly
Peter P. Hedly
President (Principal Financial Officer)
Exhibit 32.1
CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350 AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
I, the undersigned, Peter P. Hedly, President (Principal Executive Officer) and Treasurer (Principal Financial Officer) of Gaia Remedies, Inc. (the "Company"), certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002 that:
(1)
The Quarterly Report on Form 10-Q of the Company for the fiscal period ended September 30, 2012 as filed with the Securities and Exchange Commission (the Report) fully complies with the requirements of § 13(a) or 15(d) of the Securities Exchange Act of 1934; and
(2)
The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company as of and for the periods covered in the Report.
/s/ Peter P. Hedly
Peter P. Hedly
President (Principal Executive Officer)
Treasurer (Principal Financial Officer)
November 13, 2012
This written statement is being furnished to the Securities and Exchange Commission as an exhibit to the Report, and accompanies such Report to which it relates, is not deemed filed with the Securities and Exchange Commission and is not to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended (whether made before or after the date of the Report to which it relates), notwithstanding any general incorporation language contained in such filing. A signed original of this written statement required by § 906 of the Sarbanes-Oxley Act of 2002 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.
|
GOING CONCERN (Details) (USD $)
|
Sep. 30, 2012
|
|---|---|
| Deficit accumulated during the development stage | $ 45,729 |
|
ADVANCE FROM SHAREHOLDER
|
3 Months Ended |
|---|---|
|
Sep. 30, 2012
|
|
| Notes | |
| ADVANCE FROM SHAREHOLDER | NOTE 3 - ADVANCE FROM SHAREHOLDER
A shareholder of the Company has offered a shareholder loan facility up to $100,000. The loan facility is unsecured and bears interest at 5% per annum and is payable on demand after June 30, 2013. As of September 30, 2012, the amount outstanding under the shareholder loan facility was $ nil. |
|
BALANCE SHEETS (unaudited) (USD $)
|
Sep. 30, 2012
|
Mar. 31, 2012
|
|---|---|---|
| Current assets | ||
| Cash | $ 1,571 | $ 12,686 |
| Total current assets | 1,571 | 12,686 |
| Total assets | 1,571 | 12,686 |
| Current liabilities | ||
| Accounts payable and accrued liabilities | 750 | |
| Total current liabilities | 750 | |
| Total liabilities | 750 | |
| Commitments | ||
| STOCKHOLDERS' EQUITY | ||
| Common stock, $.001 par value, 100,000,000 shares authorized, 5,557,500 shares issued and outstanding | 5,558 | 5,558 |
| Additional paid in capital | 40,992 | 40,992 |
| Deficit accumulated during the development stage | (45,729) | (33,864) |
| Total stockholders' equity | 821 | 12,686 |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 1,571 | $ 12,686 |
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|
NATURE OF BUSINESS
|
3 Months Ended |
|---|---|
|
Sep. 30, 2012
|
|
| Notes | |
| NATURE OF BUSINESS | NOTE 1 - NATURE OF BUSINESS
Nature of Business
Gaia Remedies, Inc. (Gaia or the Company) was incorporated in Nevada on December 15, 2010. Gaia is in the business of the online retail sale of all natural pet remedies. Gaia is a development stage company and has not yet realized any revenues from its planned or any other operations.
The accompanying unaudited interim financial statements have been prepared by the Company pursuant to the rules and regulations of the United States Securities and Exchange Commission and should be read in conjunction with the audited financial statements and notes thereto contained in the Companys Annual Report on Form 10-K. Certain information and disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, all adjustments and disclosures necessary for a fair presentation of these financial statements have been included. Such adjustments consist of normal recurring adjustments. Operating results for the six months ended September 30, 2012 are not necessarily indicative of the results that may be expected for the full year ending March 31, 2013. |
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GOING CONCERN
|
3 Months Ended |
|---|---|
|
Sep. 30, 2012
|
|
| Notes | |
| GOING CONCERN | NOTE 2 - GOING CONCERN
Gaia has a net loss and has a deficit accumulated during the development stage of $45,729 as of September 30, 2012. Gaia's financial statements are prepared using the generally accepted accounting principles applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. However, Gaia has no current source of revenue, which raises substantial doubt about the Companys ability to continue as a going concern. Without realization of additional capital, it would be unlikely for Gaia to continue as a going concern. Gaias management plans on raising cash from public or private debt or equity financing, on an as needed basis and in the longer term, revenues from the operations of its online retail business. Gaias ability to continue as a going concern is dependent on these additional cash financings, and, ultimately, upon achieving profitable operations through the operation of its online retail business or otherwise. |
|
BALANCE SHEETS (unaudited) (parenthetical) (USD $)
|
Sep. 30, 2012
|
Mar. 31, 2012
|
|---|---|---|
| Common stock, par value | $ 0.001 | $ 0.001 |
| Common stock, shares authorized | 100,000,000 | 100,000,000 |
| Common stock, shares issued | 5,557,500 | 5,557,500 |
| Common stock, shares outstanding | 5,557,500 | 5,557,500 |
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Document and Entity Information
|
3 Months Ended |
|---|---|
|
Sep. 30, 2012
|
|
| Document and Entity Information | |
| Entity Registrant Name | GAIA REMEDIES, INC. |
| Document Type | 10-Q |
| Document Period End Date | Sep. 30, 2012 |
| Amendment Flag | false |
| Entity Central Index Key | 0001522787 |
| Current Fiscal Year End Date | --03-31 |
| Entity Common Stock, Shares Outstanding | 5,557,500 |
| Entity Filer Category | Smaller Reporting Company |
| Entity Current Reporting Status | Yes |
| Entity Voluntary Filers | No |
| Entity Well-known Seasoned Issuer | Yes |
| Document Fiscal Year Focus | 2013 |
| Document Fiscal Period Focus | Q2 |
|
STATEMENTS OF OPERATIONS (unaudited) (USD $)
|
3 Months Ended | 6 Months Ended | 22 Months Ended | ||
|---|---|---|---|---|---|
|
Sep. 30, 2012
|
Sep. 30, 2011
|
Sep. 30, 2012
|
Sep. 30, 2011
|
Sep. 30, 2012
|
|
| General and administrative expenses: | |||||
| Professional fees | $ 3,088 | $ 4,781 | $ 9,216 | $ 19,085 | $ 38,484 |
| Other | 1,461 | 1,338 | 2,649 | 2,407 | 7,245 |
| Total general and administrative expenses | 4,549 | 6,119 | 11,865 | 21,492 | 45,729 |
| Net Loss | $ (4,549) | $ (6,119) | $ (11,865) | $ (21,492) | $ (45,729) |
| Net loss per share, basic and diluted | $ 0.00 | $ 0.00 | $ 0.00 | $ 0.00 | |
| Weighted average shares outstanding, basic and diluted | 5,557,500 | 5,557,500 | 5,557,500 | 5,557,500 | |
|
STATEMENTS OF CASH FLOWS (unaudited) (USD $)
|
6 Months Ended | 22 Months Ended | |
|---|---|---|---|
|
Sep. 30, 2012
|
Sep. 30, 2011
|
Sep. 30, 2012
|
|
| CASH FLOWS FROM OPERATIONS | |||
| NET LOSS | $ (11,865) | $ (21,492) | $ (45,729) |
| Adjustments to reconcile net loss to cash used by operating activities | |||
| Increase in accrued expenses | 750 | 1,948 | 750 |
| CASH FLOWS USED IN OPERATING ACTIVITIES | (11,115) | (19,544) | (44,979) |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Proceeds from sale of common stock | 46,550 | ||
| CASH FLOWS PROVIDED BY FINANCING ACTIVITIES | 46,550 | ||
| NET CHANGE IN CASH | (11,115) | (19,544) | 1,571 |
| Cash, beginning of period | 12,686 | 41,822 | |
| Cash, end of period | 1,571 | 22,278 | 1,571 |
| SUPPLEMENTAL CASH FLOW INFORMATION | |||
| Interest paid | |||
| Income tax paid | |||
|
ADVANCE FROM SHAREHOLDER (Details)
|
9 Months Ended |
|---|---|
|
Jun. 30, 2013
|
|
| Loan facility | A shareholder of the Company has offered a shareholder loan facility up to $100,000. The loan facility is unsecured and bears interest at 5% per annum and is payable on demand after June 30, 2013 |