<?xml version="1.0" encoding="us-ascii"?><InstanceReport xmlns:xsd="http://www.w3.org/2001/XMLSchema" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"><Version>2.4.0.8</Version><ReportLongName>0007 - Disclosure - ORGANIZATION AND BASIS OF PRESENTATION</ReportLongName><DisplayLabelColumn>true</DisplayLabelColumn><ShowElementNames>false</ShowElementNames><RoundingOption /><HasEmbeddedReports>false</HasEmbeddedReports><Columns><Column FlagID="0"><Id>1</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelSeparator>

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</LabelSeparator><Level>1</Level><ElementName>LYYN_NotesToFinancialStatementsAbstract</ElementName><ElementPrefix>LYYN_</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsCalendarTitle>false</IsCalendarTitle><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><FootnoteIndexer /><Cells><Cell FlagID="0" ContextID="" UnitID=""><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>xbrli:stringItemType</ElementDataType><SimpleDataType>string</SimpleDataType><IsTotalLabel>false</IsTotalLabel><UnitID>0</UnitID><Label>Notes to Financial Statements</Label></Row><Row FlagID="0"><Id>2</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelSeparator>

</LabelSeparator><Level>2</Level><ElementName>us-gaap_BusinessDescriptionAndBasisOfPresentationTextBlock</ElementName><ElementPrefix>us-gaap_</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsCalendarTitle>false</IsCalendarTitle><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><FootnoteIndexer /><Cells><Cell FlagID="0" ContextID="From2012-09-01to2013-05-31" UnitID=""><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The consolidated balance sheet as of
May 31, 2013 and the consolidated statements of operations, stockholders' deficiency and cash flows for the periods presented have
been prepared by Lyynks Inc. (the &amp;#34;Company&amp;#34; or &amp;#34;Lyynks&amp;#34;) and are unaudited.&amp;#160;&amp;#160;The consolidated financial
statements are prepared in accordance with the requirements for unaudited interim periods, and consequently, do not include all
disclosures required to be made in conformity with accounting principles generally accepted in the United States of America. In
the opinion of management, all adjustments (consisting solely of normal recurring adjustments) necessary to present fairly the
financial position, results of operations, changes in stockholders' equity and cash flows for all periods presented have been made.&amp;#160;&amp;#160;The
information for the consolidated balance sheet as of August 31, 2012 was derived from audited financial statements.&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The accompanying consolidated financial
statements represent the accounts of Lyynks Inc. incorporated in the State of Nevada on August 23, 2002 (formerly En2go International,
Inc.) and &amp;#160;En2Go, Inc. (&amp;#147;Subsidiary&amp;#148;), incorporated in the State of Nevada on January 31, 2007 (collectively the
Parent and the Subsidiary are referred to as the &amp;#147;Company&amp;#148;, &amp;#147;Lyynks&amp;#148;&amp;#160;&amp;#160;&amp;#147;we&amp;#148; or &amp;#147;our&amp;#148;).&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;On July 17, 2007, Parent completed an
exchange agreement with Subsidiary wherein Parent issued 2,780,000 shares of its common stock in exchange for all the issued and
outstanding common stock of Subsidiary. &amp;#160;The acquisition was accounted for as a recapitalization of Subsidiary in a manner
similar to a reverse purchase as the former shareholders of Subsidiary controlled the combined Company after the acquisition. &amp;#160;Following
the acquisition and the transfer of an additional 1,075,000 shares from the shareholders of parent to the former shareholders of
the subsidiary, the former shareholders of Subsidiary controlled approximately 77% of the total outstanding stock of the combined
entity. &amp;#160;There was no adjustment to the carrying values of the assets or the liabilities of Parent or Subsidiary as a result
of the recapitalization.&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The operations of Parent are included
only from the date of recapitalization. &amp;#160;Accordingly, the previous operations and retained deficits of Parent prior to the
date of recapitalization have been eliminated. &amp;#160;The financial history prior to the recapitalization is that of the Subsidiary.&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;On February 22, 2012 the Company filed
a Certificate of Dissolution of Subsidiary En2go Inc. with the Nevada Secretary of State.&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;On March 8, 2012, the Company filed
in Nevada Articles of Merger providing for the merger of its wholly-owned subsidiary, Lyynks, Inc., into the Company, as the surviving
corporation, and in the merger changing the Company&amp;#146;s name to Lyynks Inc. In the merger, which was for the sole purpose of
changing the Company&amp;#146;s name, there were no other changes to the Articles of Incorporation&amp;#160;&amp;#160;or any changes to the
capital stock of the Company,&amp;#160;&amp;#160;or to its By-Laws or its officers and directors. Pursuant to FINRA approval, the name
change was effective for trading purposes on May 14, 2012.&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;i&gt;&lt;u&gt;General&lt;/u&gt;&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;We are developing software products
for the online distribution of audio and video content. We would intend to capitalize on the worldwide growth of digital media.
We believe our planned programs and applications will enhance the user&amp;#146;s experience with internet content.&amp;#160;We plan to
provide a service that users can use to deliver their content with a potential global reach.&amp;#160;&amp;#160;Additionally end users
would be able to use our social network integration to share content links to promote content or content providers.&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 15pt 0 0"&gt;&lt;i&gt;&lt;u&gt;Basis of Presentation and Going Concern&lt;/u&gt;&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Our consolidated financial statements
have been prepared assuming that we will continue as a going concern.&amp;#160;&amp;#160;However, we have sustained losses and as of May
31, 2013, we have no revenues and have a net working capital deficiency and a negative cash flow from operations.&amp;#160;&amp;#160;These
conditions, among others, give rise to substantial doubt about our ability to continue as a going concern.&amp;#160;&amp;#160;Management
is continuing to seek additional equity capital.&amp;#160;&amp;#160;Until such time as we are operating profitably, we anticipate our working
capital needs will be funded with proceeds from equity and debt financing.&amp;#160;&amp;#160;Management believes these steps will provide
us with adequate funds to sustain our continued existence.&amp;#160;&amp;#160;There is, however, no assurance that the steps taken by management
will meet all of our needs or that we will continue as a going concern.&amp;#160;&amp;#160;The accompanying consolidated financial statements
do not include any adjustments that might result from the outcome of this uncertainty.&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 15pt 0 0; text-align: justify"&gt;&lt;i&gt;&lt;u&gt;Development Stage Activities&lt;/u&gt;&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Since inception the Company has not
yet generated significant revenues and has been defining its business operations and raising capital.&amp;#160;&amp;#160;All of our operating
results and cash flows reported in the accompanying consolidated financial statements from January 31, 2007 through May 31, 2013
are considered to be those related to development stage activities and represent the cumulative from inception amounts from our
development stage activities required to be reported pursuant to Financial Accounting Standards Board (&amp;#34;FASB&amp;#34;) Accounting
Standards Codification (&amp;#34;ASC&amp;#34;) 915, &amp;#147;Development Stage Enterprises&amp;#148;.&amp;#160;&lt;/p&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>The entire disclosure for the business description and basis of presentation concepts.  Business description describes the nature and type of organization including but not limited to organizational structure as may be applicable to holding companies, parent and subsidiary relationships, business divisions, business units, business segments, affiliates and information about significant ownership of the reporting entity.  Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).</ElementDefenition><ElementReferences>No definition available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><UnitID>0</UnitID><Label>NOTE 1 - ORGANIZATION AND BASIS OF PRESENTATION</Label></Row></Rows><Footnotes /><IsEquityReport>false</IsEquityReport><ReportName>ORGANIZATION AND BASIS OF PRESENTATION</ReportName><MonetaryRoundingLevel>UnKnown</MonetaryRoundingLevel><SharesRoundingLevel>UnKnown</SharesRoundingLevel><PerShareRoundingLevel>UnKnown</PerShareRoundingLevel><ExchangeRateRoundingLevel>UnKnown</ExchangeRateRoundingLevel><HasCustomUnits>true</HasCustomUnits><IsEmbedReport>false</IsEmbedReport><IsMultiCurrency>false</IsMultiCurrency><ReportType>Sheet</ReportType><RoleURI>http://lyynks.com/role/OrganizationAndBasisOfPresentation</RoleURI><NumberOfCols>1</NumberOfCols><NumberOfRows>2</NumberOfRows></InstanceReport>
