0001393905-12-000636.txt : 20121114 0001393905-12-000636.hdr.sgml : 20121114 20121114121055 ACCESSION NUMBER: 0001393905-12-000636 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 10 CONFORMED PERIOD OF REPORT: 20120930 FILED AS OF DATE: 20121114 DATE AS OF CHANGE: 20121114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GAIA REMEDIES, INC. CENTRAL INDEX KEY: 0001522787 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-RETAIL STORES, NEC [5990] IRS NUMBER: 383832726 STATE OF INCORPORATION: NV FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 333-174894 FILM NUMBER: 121202373 BUSINESS ADDRESS: STREET 1: 13140 70TH LANE NE CITY: KIRKLAND STATE: WA ZIP: 98034 BUSINESS PHONE: (425) 224-2471 MAIL ADDRESS: STREET 1: 13140 70TH LANE NE CITY: KIRKLAND STATE: WA ZIP: 98034 10-Q 1 gaia_10q.htm QUARTERLY REPORT 10Q

 

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

(Issuer’s 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 registrant’s 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

 

 

 

 

 

 

 

 

 

 

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 Company’s 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 Company’s ability to continue as a going concern. Without realization of additional capital, it would be unlikely for Gaia to continue as a going concern.  Gaia’s 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. Gaia’s 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. MANAGEMENT’S 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 registrant’s 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 Company’s 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 Company’s 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 registrant’s 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


EX-31.1 2 gaia_ex311.htm CERTIFICATION ex31.1


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 Company’s 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 Company’s 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 Company’s internal control over financial reporting that occurred during the Company’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting; and


5.

The Company’s other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the Company’s auditors and the audit committee of the Company’s 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 Company’s 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 Company’s internal controls over financial reporting.


Date:  November 13, 2012


/s/  Peter P. Hedly

Peter P. Hedly

President (Principal Executive Officer)





EX-31.2 3 gaia_ex312.htm CERTIFICATION ex31.2


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 Company’s 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 Company’s 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 Company’s internal control over financial reporting that occurred during the Company’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting; and


5.

The Company’s other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the Company’s auditors and the audit committee of the Company’s 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 Company’s 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 Company’s internal controls over financial reporting.


Date:  November 13, 2012


/s/  Peter P. Hedly

Peter P. Hedly

President (Principal Financial Officer)





EX-32.1 4 gaia_ex321.htm CERTIFICATION ex32.1


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.




EX-101.INS 5 gair-20120930.xml 10-Q 2012-09-30 false GAIA REMEDIES, INC. 0001522787 --03-31 Smaller Reporting Company Yes No Yes 2013 Q2 5557500 1571 12686 1571 12686 1571 12686 750 750 750 5558 5558 40992 40992 -45729 -33864 821 12686 1571 12686 0.001 0.001 100000000 100000000 5557500 5557500 5557500 5557500 3088 4781 9216 19085 38484 1461 1338 2649 2407 7245 4549 6119 11865 21492 45729 -4549 -6119 -11865 -21492 -45729 0.00 0.00 0.00 0.00 5557500 5557500 5557500 5557500 -11865 -21492 -45729 750 1948 750 -11115 -19544 -44979 46550 46550 -11115 -19544 1571 12686 41822 22278 1571 <!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b>NOTE 1 - NATURE OF BUSINESS</b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b>Nature of Business</b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>Gaia Remedies, Inc. (&#147;Gaia&#148; or the &#147;Company&#148;) 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.&#160; </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>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 Company&#146;s Annual Report on Form 10-K. &#160;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.&#160; 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.</p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b>NOTE 2 - GOING CONCERN</b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>Gaia has a net loss and has a deficit accumulated during the development stage of $45,729 as of September 30, 2012.&#160; 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.&#160; However, Gaia has no current source of revenue, which raises substantial doubt about the Company&#146;s ability to continue as a going concern. Without realization of additional capital, it would be unlikely for Gaia to continue as a going concern.&#160; Gaia&#146;s 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. Gaia&#146;s 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. </p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b>NOTE 3 - ADVANCE FROM SHAREHOLDER</b></p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-autospace:none'>A shareholder of the Company has offered a shareholder loan facility up to $100,000.&#160; 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. </p> 45729 A shareholder of the Company has offered a shareholder loan facility up to $100,000. 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Sep. 30, 2012
Deficit accumulated during the development stage $ 45,729
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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.

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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 Company’s 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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XML 19 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
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 Company’s ability to continue as a going concern. Without realization of additional capital, it would be unlikely for Gaia to continue as a going concern.  Gaia’s 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. Gaia’s 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.

XML 20 R3.htm IDEA: XBRL DOCUMENT v2.4.0.6
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
XML 21 R1.htm IDEA: XBRL DOCUMENT v2.4.0.6
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
XML 22 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
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  
XML 23 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
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         
XML 24 R10.htm IDEA: XBRL DOCUMENT v2.4.0.6
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
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