0001372167-12-000058.txt : 20120614 0001372167-12-000058.hdr.sgml : 20120614 20120613183010 ACCESSION NUMBER: 0001372167-12-000058 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 10 CONFORMED PERIOD OF REPORT: 20120430 FILED AS OF DATE: 20120614 DATE AS OF CHANGE: 20120613 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Gold Dynamics Corp. CENTRAL INDEX KEY: 0001371534 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 000000000 STATE OF INCORPORATION: NV FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-54139 FILM NUMBER: 12905994 BUSINESS ADDRESS: STREET 1: 2248 MERIDIAN BLVD. STE H CITY: MINDEN STATE: NV ZIP: 89423 BUSINESS PHONE: 949-419-6588 MAIL ADDRESS: STREET 1: 2248 MERIDIAN BLVD. STE H CITY: MINDEN STATE: NV ZIP: 89423 FORMER COMPANY: FORMER CONFORMED NAME: Vita Spirits Corp. DATE OF NAME CHANGE: 20080501 FORMER COMPANY: FORMER CONFORMED NAME: Revo Ventures Inc. DATE OF NAME CHANGE: 20060804 10-Q 1 gold10qapril30final.htm

U.S. Securities and Exchange Commission

Washington, D.C. 20549

FORM 10-Q

[ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES AND EXCHANGE ACT OF 1934

For the quarterly period ended April 30, 2012

or

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934

For the transition period from _____________________

Commission File No. 333-136981

Gold Dynamics Corp.

---------------------------------------------

(Name of small business issuer in its charter)

Nevada

(State of Incorporation)

N/A (I.R.S. Employer Identification No.)

2248 Meridian Blvd. Ste H Minden, NV 89423

----------------------------------------------------------------------

(Address of principal executive offices)

949-419-6588

----------------------------------

(Registrant's telephone number, including area code)

-------------------------

(Former name, address and fiscal year, if changed since last report)

Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No _

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 __ Small Reporting Company _x_

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes No X

The number of shares outstanding of the Registrant's common stock, par value $.001 per share, at June 13, 2012 was 103,250,000 shares.

1

Part I - FINANCIAL INFORMATION

Gold Dynamics Corp.                          
(A Development Stage Company)                    
Balance Sheets                            
                                     
                        April 30,   July 31        
                        2012   2011        
                        (Unaudited)   (Audited)        
ASSETS        
Current Assets                            
  Cash and Cash Equivalents          $                   -    $               -        
                                     
  TOTAL CURRENT ASSETS                               -                     -        
                                     
TOTAL ASSETS                $                   -    $               -        
                                     
LIABILITIES AND STOCKHOLDERS' DEFICIT        
                                     
Current Liabilities                          
  Accounts Payable and Accrued Liabilities       $         29,470    $      14,480        
  Shareholder Loan                         15,937            15,937        
TOTAL CURRENT LIABILITIES                   45,407            30,417        
                                     
                                     
Stockholders' Deficit                          
Preferred Stock, $0.001 par value                      
50,000,000 authorized, none issued and outstanding                  
Common stock, Authorized : 50,000,000, common shares               
$0.001 par value, 103,250,000 issued and outstanding as              
 at April 30, 2012 and July 31, 2011                        
                                  103,250          103,250        
Additional paid in capital                        (24,187)          (24,793)        
                                     
(Deficit) accumulated during the development stage              (124,470)        (108,874)        
                                     
TOTAL STOCKHOLDERS' DEFICIT                (45,407)          (30,417)        
                                     
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT  $                 (0)    $               -        
                                     
                                     
See Accompanying Notes to Financial Statements        
                                     

 

Gold Dynamics Corp.                                                    
(A Development Stage Company)                                                  
Statements of Operations                                                    
(Unaudited)                                                        
                                                             
                          April 17, 2006                                  
              Three Months Ended   Nine Months Ended, (Inception) to                                   
              April 30,   April 30,   April 30, April 30, April 30,                                  
              2012   2011   2012 2011 2012                                  
                                                             
General and Administration Expenses                                                  
  Professional Fees        $           680    $        3,250               9,945            4,850  $        84,599                                  
  Consultation Fees                  3,000                      -               3,000                    -  $        18,000                                  
  Management Fees                          -                      -                       -                    -              1,355                                  
  Filing Fee                    2,045                      -               2,045                9,083                                  
  Rent                            -                      -                       -                7,200                                  
  Bank charges and interest                   202                 202                  606               606              4,233                                  
                         5,927              3,452             15,596            5,456          124,470                                  
                                                             
Net (loss) for the period      $       (5,927)    $       (3,452)            (15,596)           (5,456)  $    (124,470)                                  
                                                             
Net (loss) per share                                                      
  Basic and diluted        $         (0.00)    $         (0.00)    $          (0.00)  $         (0.00)  $          (0.00)                                  
                                                             
Weighted Average Number of Common                                                   
  Shares Outstanding  - Basic and Diluted   103,250,000   103,520,000   103,250,000 103,250,000                                    
                                                             
See Accompanying Notes to Financial Statements                                  

 

 

Gold Dynamics Corp.              
(A Development Stage Company)            
Statements of Cash Flows              
(Unaudited)                
                       
                    April 17, 2006  
            For the Nine Months  Ended   (Inception) to   
            April 30,   April 30,   April 30,  
            2012   2011   2012  
                       
Cash flow from Operating Activities            
  Net loss      $          (15,596)    $           (5,456)  $     (124,470)  
                       
Adjustments to reconcile net loss to net cash             
  used in operating activities:                           -          
  Imputed ineterst                         606                      606                3,063  
Changes in:                
  Accounts payable and accrued liabilities                14,990                   2,850            29,470  
Net cash used for operating activities                         -                 (2,000)           (91,937)  
                       
Financing Activities              
  Additional Paid in Capital                           -                          -             (25,399)  
  Proceeds from shareholder loan                         -                      (63)            15,937  
  Proceeds from Bank Overdraft                            -      
  Proceeds from sale of common stock                         -                          -          101,399  
Net cash provided by financing activities                         -                      (63)            91,937  
                       
Net change in cash                           -                 (2,063)                    (0)  
                       
Cash, Beginning of Period                           -                   2,063                        -  
                       
Cash,  End of Period    $                     -    $                    -    $                (0)  
                       
                       
                       
                       
See Accompanying Notes    

 

 

 

Gold Dynamics Corp.

(A Development Stage Company)

NOTES TO FINANCIAL STATEMENTS

For the Nine Months Ended April 30, 2012

 

1. BASIS OF PRESENTATION 

The accompanying unaudited interim financial statements of Gold Dynamics formerly known as Vita Spirits Corp., formerly known as Revo Ventures Inc, have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with Gold Dynamics Corp. audited 2011 annual financial statements and notes thereto filed with the SEC on form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the result of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements, which would substantially duplicate the disclosure required in Gold Dynamics 2011 annual financial statements have been omitted. 

 

The Company's primary operations began in April 2006. The Company intends to change its primary operations from an e-commerce focus to a producer of vitamin infused alcoholic beverages. As part of the change in operations, the Company has undergone a name change from Revo Ventures Inc. to Vita Spirits Corp.to Gold Dynamics Corp. to better reflect the Company's new focus.

 

Use of Estimates

The preparation of the financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates. 

Recent Accounting Pronouncements

In June 2009 the FASB established the Accounting Standards Codification ("Codification'" or "ASC") as the source of authoritative accounting principles recognized by the FASB to be applied by nongovernmental entities in the preparation of financial statements in accordance with generally accepted accounting principles in the United States ("GAAP"). Rules and interpretive releases of the Securities and Exchange Commission issued under authority of federal securities laws are also sources of GAAP for SEC registrants. Existing GAAP was not intended to be changed as a result of the Codification, and accordingly the change did not impact our financial statements. The ASC does change the way the guidance is organized and presented.

 

Statement of Financial Accounting Standards ("SFAS'") SFAS No. 165 (ASC Topic 855), "Subsequent Events", SFAS No. 166 (ASC Topic 810), "Accounting for Transfers of Financial Assets-an Amendment of FASB Statement No. 140", SFAS No. 167 (ASC Topic 810), "Amendments to FASB Interpretation No. 46(R)", and SFAS No. 168 (ASC Topic 105), "The FASB Accounting Standards Codification and the Hierarchy of Generally Accepted Accounting Principles-a replacement of FASB Statement No. 162" were recently issued. SFAS No. 165, 166, 167, and 168 have no current applicability to the Company or their effect on the financial statements would not have been significant.

 

Accounting Standards Update ("ASU") ASU No. 2009-05 (ASC Topic 820), which amends Fair Value Measurements and Disclosures - Overall, ASU No. 2009-13 (ASC Topic 605), Multiple-Deliverable Revenue arrangements, ASU No. 2009-14 (ASC Topic 985), Certain Revenue Arrangements that include Software Elements, and various other ASU's No. 2009-2 through ASU No. 2009-15 which contain technical corrections to existing guidance or affect guidance to specialized industries or entities were recently issued. These updates have no current applicability to the Company or their effect on the financial statements would not have been significant.

 

The Company does not expect that adoption of these or other recently issued accounting pronouncements will have a material impact on its financial position, results of operations or cash flows.

 

Recently Issued Accounting Standards

 

In August 2009, the FASB issued an amendment to the accounting standards related to the measurement of liabilities that are recognized or disclosed at fair value on a recurring basis. This standard clarifies how a company should measure the fair value of liabilities and that restrictions preventing the transfer of a liability should not be considered as a factor in the measurement of liabilities within the scope of this standard. This standard was effective for the Company on October 1, 2009. The Company does not expect the impact of its adoption to be material to its financial statements.

 

In October 2009, the FASB issued an amendment to the accounting standards related to the accounting for revenue in arrangements with multiple deliverables including how the arrangement consideration is allocated among delivered and undelivered items of the arrangement. Among the amendments, this standard eliminated the use of the residual method for allocating arrangement considerations and requires an entity to allocate the overall consideration to each deliverable based on an estimated selling price of each individual deliverable in the arrangement in the absence of having vendor-specific objective evidence or other third party evidence of fair value of the undelivered items. This standard also provides further guidance on how to determine a separate unit of accounting in a multiple-deliverable revenue arrangement and expands the disclosure requirements about the judgments made in applying the estimated selling price method and how those judgments affect the timing or amount of revenue recognition. This standard, for which the Company is currently assessing the impact, will become effective for the Company on January 1, 2011.

 

In October 2009, the FASB issued an amendment to the accounting standards related to certain revenue arrangements that include software elements. This standard clarifies the existing accounting guidance such that tangible products that contain both software and non-software components that function together to deliver the product's essential functionality, shall be excluded from the scope of the software revenue recognition accounting standards. Accordingly, sales of these products may fall within the scope of other revenue recognition standards or may now be within the scope of this standard and may require an allocation of the arrangement consideration for each element of the arrangement. This standard, for which the Company is currently assessing the impact, will become effective for the Company on January 1, 2011.

 

2.         GOING CONCERN 

Gold Dynamic’s financial statements have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities and commitments in the normal course of business for the foreseeable future. Since inception, the Company has accumulated losses aggregating to $ 124,470 and has insufficient working capital to meet operating needs for the next twelve months as of April 30, 2012, all of which raise substantial doubt about Gold's ability to continue as a going concern.

3.         COMMON STOCK TRANSACTIONS

On July 14, 2006, the Company sold 5,000,000 common shares at $0.001 per share to the sole director of the Company for total proceeds of $5,000. 

On May 6, 2007, the Company sold 2,100,000 common shares pursuant to a registration statement at $0.01 per share for total proceeds of $21,000.

On April 22, 2008, the Company approved a forward split of a 15 for 2 forward stock split to our stockholders of record as of April 23, 2008. The Company increased the authorized shares from 50,000,000 to 75,000,000. The Company did not change the par value of the shares. All references to share value in these financial statements have been restated to reflect this split. Subsequent to the forward split, the Company had 53,250,000 common shares issued and outstanding.

 

On November 12, 2009, the Company sold 4,000.000 common shares at $ 0.0125 per share to an investor for the total proceeds of $50,000.

On December 15, 2009, we authorized the Forward Stock Split of our issued and outstanding Common Stock on a 2.6 for one (2.6:1) basis. As a result of the Forward Stock Split, the Company shall increase its issued and outstanding shares of the Common Stock to 138,450,000.

4.         RELATED PARTY TRANSACTIONS      

An officer has loaned the Company $15,937, without a fixed term of repayment. Imputed interest in the amount of $ 606 has been included in additional paid in capital for the period ending April 30, 2012.

5.         SUBSEQUENT EVENTS                 

There have been no subsequent events since April 30, 2012 through the date of this filing.

 

 

 

 

Item 2: Management's Discussion and Analysis of Financial Condition and Results of Operations

This 10-Q contains forward-looking statements. Our actual results could differ materially from those set forth as a result of general economic conditions and changes in the assumptions used in making such forward-looking statements. The following discussion and analysis of our financial condition and results of operations should be read together with the audited consolidated financial statements and accompanying notes and the other financial information appearing elsewhere in this report. The analysis set forth below is provided pursuant to applicable Securities and Exchange Commission regulations and is not intended to serve as a basis for projections of future events. Refer also to "Cautionary Note Regarding Forward Looking Statements" and "Risk Factors" below.

The following discussion and analysis provides information which management of Gold Dynamics Corp. (the "Company") believes to be relevant to an assessment and understanding of the Company's results of operations and financial condition. This discussion should be read together with the Company's financial statements and the notes to financial statements, which are included in this report.

Caution about Forward-Looking Statements

This management's discussion and analysis or plan of operation should be read in conjunction with the financial statements and notes thereto of the Company for the quarter ended January 31, 2012. Because of the nature of a relatively new and growing company the reported results will not necessarily reflect the future.

This section includes a number of forward-looking statements that reflect our current views with respect to future events and financial performance. Forward-looking statements are often identified by words like: believe, expect, estimate, anticipate, intend, project and similar expressions, or words which, by their nature, refer to future events. You should not place undue certainty on these forward-looking statements, which apply only as of the date of this prospectus. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or our predictions.

Overview

Gold Dynamics Corp.'s primary operations began in April 2006. Gold Dynamics Corp. is an emerging precious metals explorer focused on underexplored regions of the world that is seeking to grow shareholder value by building gold and silver mineral resources through systematic exploration. The Company has brought together a highly experienced board and management team consisting of capable professionals with significant development and mine management experience.

Gold Dynamics Corp. seeks to identify, acquire, and develop deposits which have the potential to be world class and in an acceptable risk environment. Social responsibility and environmental stewardship are core values of the Company.

Results of Operations

Nine Months Ended April 30, 2012 Compared to April 30, 2011.

The Company experienced general and administration expenses of $15,596 and $5,456 for the nine month periods ended April 30, 2012 and 2011, respectively. The increase in general and administration expenses for this period are attributed to a increase in professional, consultation and filings fees.

For the nine month period ended April 30, 2012, the company experienced a net loss of $15,596 compared to a loss of $5,456 for the nine months ended April 30, 2011.

Liquidity and Capital Resources

During the nine month period ended April 30, 2012, the Company had no working capital needs. As of April 30, 2012, the Company has cash on hand in the amount of $0. Management does not expect that the current level of cash on hand will be sufficient to fund our operations for the next twelve month period. In the event that additional funds are required to maintain operations, our officers and directors have agreed to advance us sufficient capital to allow us to continue operations. We may also be able to obtain loans from our shareholders, but there are no agreements or understandings in place currently.

We believe we will require additional funding to expand our business and ensure its future profitability. We anticipate that any additional funding will be in the form of equity financing from the sale of our common stock. However, we do not have any arrangements in place for any future equity financing. In the event we are not successful in selling our common stock, we may also seek to obtain short-term loans from our director.

Item 3. Quantitative Disclosures About Market Risks

Not applicable

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

We carried out an evaluation, under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, of the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Exchange Act (defined below)). Based upon that evaluation, our principal executive officer and principal financial officer concluded that, as of the end of the period covered in this report, our disclosure controls and procedures were not effective to ensure that information required to be disclosed in reports filed under the Securities Exchange Act of 1934, as amended (the "Exchange Act") is recorded, processed, summarized and reported within the required time periods and is accumulated and communicated to our management, including our principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosure.

Our management, including our principal executive officer and principal financial officer, does not expect that our disclosure controls and procedures or our internal controls will prevent all error or fraud. A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints and the benefits of controls must be considered relative to their costs. Due to the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, have been detected. Accordingly, management believes that the financial statements included in this report fairly present in all material respects our financial condition, results of operations and cash flows for the periods presented.

Changes in Internal Control over Financial Reporting

In addition, our management with the participation of our Principal Executive Officer and Principal Financial Officer have determined that no change in our internal control over financial reporting occurred during or subsequent to the quarter ended April 30, 2012 that has materially affected, or is (as that term is defined in Rules 13(a)-15(f) and 15(d)-15(f) of the Securities Exchange Act of 1934) reasonably likely to materially affect, our internal control over financial reporting.

PART II: OTHER INFORMATION

Items 1. Legal Proceedings

We know of no material, existing or pending legal proceedings against our company, nor are we involved as a plaintiff in any material proceeding or pending litigation. There are no proceedings in which any of our directors, officers or affiliates, or any registered or beneficial shareholder, is an adverse party or has a material interest adverse to our interest.

Item 2 Unregistered Sales of Equity Securities and Use of Proceeds

None

Item 3 Defaults Upon Senior Securities

None

Item 4 Submission of Matters to a Vote of Security Holders

None

Item 5 Other Information

None

Item 6: Exhibits

(a) The following exhibit is filed as part of this report:

31.1 Certification of Principal Executive Officer and Principal Financial Officer filed pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

32.1 Certification of Principal Executive Officer and Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized June 13, 2012

June 13, 2012

/s/ Gary Kirk__________________

Mr. Gary Kirk, President

 

 

EX-14 2 ex14code.htm

>

CODE OF ETHICS

FOR SENIOR FINANCIAL OFFICERS, EMPLOYEES,

AND THE PRINCIPAL EXECUTIVE OFFICERS OF

GOLD DYNAMICS CORP.



Gold Dynamics Corp. (the Company) is committed to conducting its
business in compliance with all applicable laws and regulations and
in accordance with high standards of business conduct. The Company
strives to maintain the highest standard of accuracy, completeness,
and disclosure in its financial dealings, records, and reports.
These standard serve as the basis for managing the Company's
business, for meeting the Company's duties to its stockholders, and
for maintaining compliance with financial reporting requirements.
The Company's principal executive officers and all of the Company's
senior financial executives must agree to comply with the following
principles and will promote and support this Code of Ethics, and
comply with the following principles. For the purpose of this Code
of Ethics, "senior financial officers" means the Company's principal
financial officer and controller or principal accounting officer, or
persons performing similar functions.

The principal executive officer and each senior financial officer of
the Company will adhere to and advocate the following principals and
responsibilities governing his or her professional and ethical
conduct, each to the best of his or her knowledge and ability:

1.     Act with honesty and integrity and in a ethical manner,
avoiding actual or apparent conflicts of interest in personal and
professional relationships.

2.     Promptly disclose to the Company, through the General
Counsel, Chief Accounting Officer, or Audit Committee, any material
transaction or relationship that reasonably could be expected to
give rise to a conflict of interest between personal and
professional relationships.

3.     Provide full, fair, accurate, timely, and understandable
disclosure in reports and documents that the Company files with, or
submits to, the SEC and in other public communications made by the
Company.

4.     Provide constituents with information that is accurate,
complete, objective, relevant, timely, and understandable.

5.     Comply with applicable rules and regulations of federal,
state, and local governments and other appropriate private and
public regulatory agencies.

6.     Act in good faith, responsibly, with due care, competence and
diligence, without misrepresenting material facts or allowing his or
her independent judgment to be subordinated.

7.     Use good business judgment in the processing and recording of
all financial transactions.

8.     Respect the confidentiality of information acquired in the
course of the Company's business, except when authorized or
otherwise legally obligated to disclose such information, and not
use confidential information acquired in the course of work for
personal advantage.

9.     Share knowledge and maintain skills important and relevant to
his or her constituents' needs.

10.   Promote ethical behavior among constituents in the work
environment.

11.   Achieve responsible use of and control over all assets and
resources employed or entrusted to him or her.

12.   Comply with generally accepted accounting standards and
practices, rules, regulations and controls.

13.   Ensure that accounting entries are promptly and accurately
recorded and properly documented and that no accounting entry
intentionally distorts or disguises the true nature of any business
transaction.

14.    Maintain books and records that fairly and accurately reflect
the Company's business transactions.

15.   Sign only those documents that he or she believes to be
accurate and truthful.

16.   Devise, implement, and maintain sufficient internal controls
to assure that financial record keeping objectives are met.

17.   Prohibit the establishment of any undisclosed or unrecorded
funds or assets for any purpose and provide for the proper and
prompt recording of all disbursements of funds and all receipts.

18.   Not knowingly be a party to any illegal activity or engage in
acts that are discreditable to his or her profession or the Company.

19.   Respect and contribute to the legitimate and ethical objects
of the Company.

20.   Engage in only those services for which he or she has the
necessary knowledge, skill, and expertise.

21.   Not make, or tolerate to be made, false or artificial
statements or entries for any purpose in the books and records of
the Company or in any internal or external correspondence,
memoranda, or communication of any type, including telephone or wire
communications.

22.    Report to the Company, through the General Counsel, Chief
Accounting Officer, or Audit Committee any situation where the Code
of Ethics, the Company's standards, or the laws are being violated.

Those required to comply with this Code of Ethics understand that
failure to comply with this Code of Ethics will not be tolerated by
Company and that deviations there from or violations thereof will
result in serious consequences, which may include, but may not be
limited to, serious reprimand, dismissal or other legal actions.

The parties subject to this Code of Ethics will acknowledge in
writing that they agree to comply with these requirements.


EX-31 3 ex31gold.htm



CERTIFICATION PURSUANT TO SECTION 302 OF SARBANES-OXLEY ACT OF 2002

I, Gary Kirk, certify that:

1.          I have reviewed this annual report on Form 10-Q of Gold
Dynamics Corp.;

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 registrant as of, and for, the
periods presented in this report;

4.          The registrant's other certifying officer(s) 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 registrant
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
registrant, 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 registrant's
disclosure controls and procedures and presented in this report our
conclusions about the effectiveness of the disclosure controls and
procedures, as of the end of the period covered by this report based
on such evaluation; and

d.          Disclosed in this report any change in the registrant's
internal control over financial reporting that occurred during the
registrant's most recent fiscal quarter (the registrant's fourth
quarter in the case of an annual report) that has materially
affected, or is reasonably likely to materially affect, the
registrant's internal control over financial reporting; and

5.          The registrant's other certifying officer(s) and I have
disclosed, based on our most recent evaluation of internal control
over financial reporting, to the registrant's auditors and the Audit
Committee of the registrant's Board of Directors (or persons
performing the equivalent functions):

a.          All significant deficiencies and material weaknesses in
the design or operation of internal control over financial
reporting, which are reasonably likely to adversely affect the
registrant'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
registrant's internal control over financial reporting.

Date: June 13, 2012

By: /s/ Gary Kirk
      Gary Kirk
      Chief Executive Officer

EX-32 4 ex32gold.htm


CERTIFICATION OF CHIEF 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

The undersigned, Gary Kirk, the Chief Executive Officer of Gold
Dynamics Corp. (the "Company") hereby certifies, pursuant to 18
U.S.C. Section 1350, as adopted pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002, that, to his or her knowledge, the
Annual Report on Form 10-Q for the period ended April 30, 2012, fully
complies with the requirements of Section 13(a) or 15(d) of the
Securities Exchange Act of 1934, as amended, and that the
information contained in the Annual Report on Form 10-Q, as amended,
fairly presents in all material respects the financial condition and
results of operations of the Company.

Date: June 13, 2012.

/s/ Gary Kirk
Gary Kirk
Chief Executive Officer


EX-101.INS 5 gldn-20120430.xml XBRL INSTANCE FILE 0001371534 2011-08-01 2012-04-30 0001371534 2012-06-14 0001371534 2012-04-30 0001371534 2011-07-31 0001371534 2012-02-01 2012-04-30 0001371534 2011-02-01 2011-04-30 0001371534 2010-08-01 2011-04-30 0001371534 2006-04-17 2012-04-30 0001371534 2010-07-31 0001371534 2011-04-30 0001371534 2006-04-16 iso4217:USD xbrli:shares iso4217:USD xbrli:shares Gold Dynamics Corp. 0001371534 10-Q 2012-04-30 false --07-31 No No Yes Smaller Reporting Company Q3 2011 103250000 0.001 0.001 50000000 50000000 0 0 0.001 0.001 50000000 50000000 103250000 103250000 45407 30417 15937 15937 29470 14480 103250 103250 -24187 -24793 -124470 -108874 -45407 -30417 -0 0 0 0 0 0 0 0 103250000 103250000 103520000 103250000 0.00 -0.00 0.00 0.00 -0.00 -15596 -5927 -3452 -5456 -124470 15596 5927 3452 5456 124470 606 202 202 606 4233 7200 2045 2045 9083 1355 3000 3000 18000 9945 680 3250 4850 84599 -15596 -5456 -124470 606 606 3063 14990 2850 29470 -2000 -91937 -25399 -63 15937 101399 -63 91937 -2063 -0 0 2063 0 <p style="margin: 0pt"></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0">The accompanying unaudited interim financial statements of&#160;Gold Dynamics formerly known as Vita Spirits Corp., formerly known as Revo Ventures Inc, have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with Gold Dynamics Corp. audited 2011 annual financial statements and notes thereto filed with the SEC on form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the result of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements, which would substantially duplicate the disclosure required in Gold Dynamics 2011 annual financial statements have been omitted.&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0">The Company's primary operations began in April 2006. The Company intends to change its primary operations from an e-commerce focus to a producer of vitamin infused alcoholic beverages. 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Rules and interpretive releases of the Securities and Exchange Commission issued under authority of federal securities laws are also sources of GAAP for SEC registrants. Existing GAAP was not intended to be changed as a result of the Codification, and accordingly the change did not impact our financial statements. 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Among the amendments, this standard eliminated the use of the residual method for allocating arrangement considerations and requires an entity to allocate the overall consideration to each deliverable based on an estimated selling price of each individual deliverable in the arrangement in the absence of having vendor-specific objective evidence or other third party evidence of fair value of the undelivered items. This standard also provides further guidance on how to determine a separate unit of accounting in a multiple-deliverable revenue arrangement and expands the disclosure requirements about the judgments made in applying the estimated selling price method and how those judgments affect the timing or amount of revenue recognition. 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4. RELATED PARTY TRANSACTIONS
9 Months Ended
Apr. 30, 2012
Notes to Financial Statements  
4. RELATED PARTY TRANSACTIONS

An officer has loaned the Company $15,937, without a fixed term of repayment. Imputed interest in the amount of $ 606 has been included in additional paid in capital for the period ending April 30, 2012

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3. COMMON STOCK TRANSACTIONS
9 Months Ended
Apr. 30, 2012
Notes to Financial Statements  
3. COMMON STOCK TRANSACTIONS

3.         COMMON STOCK TRANSACTIONS

On July 14, 2006, the Company sold 5,000,000 common shares at $0.001 per share to the sole director of the Company for total proceeds of $5,000. 

On May 6, 2007, the Company sold 2,100,000 common shares pursuant to a registration statement at $0.01 per share for total proceeds of $21,000.

On April 22, 2008, the Company approved a forward split of a 15 for 2 forward stock split to our stockholders of record as of April 23, 2008. The Company increased the authorized shares from 50,000,000 to 75,000,000. The Company did not change the par value of the shares. All references to share value in these financial statements have been restated to reflect this split. Subsequent to the forward split, the Company had 53,250,000 common shares issued and outstanding.

 

On November 12, 2009, the Company sold 4,000.000 common shares at $ 0.0125 per share to an investor for the total proceeds of $50,000.

On December 15, 2009, we authorized the Forward Stock Split of our issued and outstanding Common Stock on a 2.6 for one (2.6:1) basis. As a result of the Forward Stock Split, the Company shall increase its issued and outstanding shares of the Common Stock to 138,450,000.

XML 16 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
Balance Sheets (USD $)
Apr. 30, 2012
Jul. 31, 2011
ASSETS    
Cash and Cash Equivalents $ 0 $ 0
TOTAL CURRENT ASSETS 0 0
TOTAL ASSETS 0 0
Current Liabilities    
Accounts Payable and Accrued Liabilities 29,470 14,480
Shareholder Loan 15,937 15,937
TOTAL CURRENT LIABILITIES 45,407 30,417
Stockholders' Deficit    
Common stock 50,000,000 authorized at $0.001, 103,250,000 issued and outstanding as at April 30, 2012 and July 31, 2011 103,250 103,250
Additional paid in capital (24,187) (24,793)
(Deficit) accumulated during the development stage (124,470) (108,874)
TOTAL STOCKHOLDERS' DEFICIT (45,407) (30,417)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 0 $ 0
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1. BASIS OF PRESENTATION
9 Months Ended
Apr. 30, 2012
Notes to Financial Statements  
1. BASIS OF PRESENTATION

The accompanying unaudited interim financial statements of Gold Dynamics formerly known as Vita Spirits Corp., formerly known as Revo Ventures Inc, have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with Gold Dynamics Corp. audited 2011 annual financial statements and notes thereto filed with the SEC on form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the result of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements, which would substantially duplicate the disclosure required in Gold Dynamics 2011 annual financial statements have been omitted. 

 

The Company's primary operations began in April 2006. The Company intends to change its primary operations from an e-commerce focus to a producer of vitamin infused alcoholic beverages. As part of the change in operations, the Company has undergone a name change from Revo Ventures Inc. to Vita Spirits Corp.to Gold Dynamics Corp. to better reflect the Company's new focus.

Use of Estimates

The preparation of the financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates. 

Recent Accounting Pronouncements

In June 2009 the FASB established the Accounting Standards Codification ("Codification'" or "ASC") as the source of authoritative accounting principles recognized by the FASB to be applied by nongovernmental entities in the preparation of financial statements in accordance with generally accepted accounting principles in the United States ("GAAP"). Rules and interpretive releases of the Securities and Exchange Commission issued under authority of federal securities laws are also sources of GAAP for SEC registrants. Existing GAAP was not intended to be changed as a result of the Codification, and accordingly the change did not impact our financial statements. The ASC does change the way the guidance is organized and presented.

 

Statement of Financial Accounting Standards ("SFAS'") SFAS No. 165 (ASC Topic 855), "Subsequent Events", SFAS No. 166 (ASC Topic 810), "Accounting for Transfers of Financial Assets-an Amendment of FASB Statement No. 140", SFAS No. 167 (ASC Topic 810), "Amendments to FASB Interpretation No. 46(R)", and SFAS No. 168 (ASC Topic 105), "The FASB Accounting Standards Codification and the Hierarchy of Generally Accepted Accounting Principles-a replacement of FASB Statement No. 162" were recently issued. SFAS No. 165, 166, 167, and 168 have no current applicability to the Company or their effect on the financial statements would not have been significant.

 

Accounting Standards Update ("ASU") ASU No. 2009-05 (ASC Topic 820), which amends Fair Value Measurements and Disclosures - Overall, ASU No. 2009-13 (ASC Topic 605), Multiple-Deliverable Revenue arrangements, ASU No. 2009-14 (ASC Topic 985), Certain Revenue Arrangements that include Software Elements, and various other ASU's No. 2009-2 through ASU No. 2009-15 which contain technical corrections to existing guidance or affect guidance to specialized industries or entities were recently issued. These updates have no current applicability to the Company or their effect on the financial statements would not have been significant.

 

The Company does not expect that adoption of these or other recently issued accounting pronouncements will have a material impact on its financial position, results of operations or cash flows.

 

Recently Issued Accounting Standards

 

In August 2009, the FASB issued an amendment to the accounting standards related to the measurement of liabilities that are recognized or disclosed at fair value on a recurring basis. This standard clarifies how a company should measure the fair value of liabilities and that restrictions preventing the transfer of a liability should not be considered as a factor in the measurement of liabilities within the scope of this standard. This standard was effective for the Company on October 1, 2009. The Company does not expect the impact of its adoption to be material to its financial statements.

 

In October 2009, the FASB issued an amendment to the accounting standards related to the accounting for revenue in arrangements with multiple deliverables including how the arrangement consideration is allocated among delivered and undelivered items of the arrangement. Among the amendments, this standard eliminated the use of the residual method for allocating arrangement considerations and requires an entity to allocate the overall consideration to each deliverable based on an estimated selling price of each individual deliverable in the arrangement in the absence of having vendor-specific objective evidence or other third party evidence of fair value of the undelivered items. This standard also provides further guidance on how to determine a separate unit of accounting in a multiple-deliverable revenue arrangement and expands the disclosure requirements about the judgments made in applying the estimated selling price method and how those judgments affect the timing or amount of revenue recognition. This standard, for which the Company is currently assessing the impact, will become effective for the Company on January 1, 2011.

 

In October 2009, the FASB issued an amendment to the accounting standards related to certain revenue arrangements that include software elements. This standard clarifies the existing accounting guidance such that tangible products that contain both software and non-software components that function together to deliver the product's essential functionality, shall be excluded from the scope of the software revenue recognition accounting standards. Accordingly, sales of these products may fall within the scope of other revenue recognition standards or may now be within the scope of this standard and may require an allocation of the arrangement consideration for each element of the arrangement. This standard, for which the Company is currently assessing the impact, will become effective for the Company on January 1, 2011.

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2. GOING CONCERN
9 Months Ended
Apr. 30, 2012
Notes to Financial Statements  
2. GOING CONCERN

Gold Dynamic’s financial statements have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities and commitments in the normal course of business for the foreseeable future. Since inception, the Company has accumulated losses aggregating to $ 124,470 and has insufficient working capital to meet operating needs for the next twelve months as of April 30, 2012, all of which raise substantial doubt about Gold's ability to continue as a going concern.

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Balance Sheets (Parenthetical) (USD $)
Apr. 30, 2012
Jul. 31, 2011
Statement of Financial Position [Abstract]    
Preferred Stock Par Value $ 0.001 $ 0.001
Preferred Stock Authorized 50,000,000 50,000,000
Preferred Stock Issued and Outstanding $ 0 $ 0
Common Stock Par Value $ 0.001 $ 0.001
Common Stock Authorized 50,000,000 50,000,000
Common Stock Issued and Outstanding 103,250,000 103,250,000
XML 21 R1.htm IDEA: XBRL DOCUMENT v2.4.0.6
Document and Entity Information
9 Months Ended
Apr. 30, 2012
Jun. 14, 2012
Document And Entity Information    
Entity Registrant Name Gold Dynamics Corp.  
Entity Central Index Key 0001371534  
Document Type 10-Q  
Document Period End Date Apr. 30, 2012  
Amendment Flag false  
Current Fiscal Year End Date --07-31  
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   103,250,000
Document Fiscal Period Focus Q3  
Document Fiscal Year Focus 2011  
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Statements of Operations (USD $)
3 Months Ended 9 Months Ended 72 Months Ended
Apr. 30, 2012
Apr. 30, 2011
Apr. 30, 2012
Apr. 30, 2011
Apr. 30, 2012
General and Administration Expenses          
Professional Fees $ 680 $ 3,250 $ 9,945 $ 4,850 $ 84,599
Consultation Fees 3,000    3,000    18,000
Management Fees             1,355
Filing Fee 2,045    2,045   9,083
Rent            7,200
Bank charges and interest 202 202 606 606 4,233
Operating Loss 5,927 3,452 15,596 5,456 124,470
Net (loss) for the period $ (5,927) $ (3,452) $ (15,596) $ (5,456) $ (124,470)
Net (loss) per share          
Basic and diluted $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00
Weighted Average Number of Common          
Shares Outstanding - Basic and Diluted 103,250,000 103,520,000 103,250,000 103,250,000  
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Statements of Cash Flows (USD $)
9 Months Ended 72 Months Ended
Apr. 30, 2012
Apr. 30, 2011
Apr. 30, 2012
Cash flow from Operating Activities      
Net loss $ (15,596) $ (5,456) $ (124,470)
Adjustments to reconcile net loss to net cash      
Imputed interest 606 606 3,063
Accounts payable and accrued liabilities 14,990 2,850 29,470
Net cash used for operating activities    (2,000) (91,937)
Financing Activities      
Additional Paid in Capital       (25,399)
Proceeds from shareholder loan    (63) 15,937
Proceeds from sale of common stock       101,399
Net cash provided by financing activities    (63) 91,937
Net change in cash    (2,063) 0
Cash, Beginning of Period    2,063   
Cash, End of Period $ 0 $ 0 $ 0
XML 24 R10.htm IDEA: XBRL DOCUMENT v2.4.0.6
5. SUBSEQUENT EVENTS
9 Months Ended
Apr. 30, 2012
Notes to Financial Statements  
5. SUBSEQUENT EVENTS

There have been no subsequent events since April 30, 2012 through the date of this filing.

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