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ORGANIZATION AND DESCRIPTION OF BUSINESS
9 Months Ended
Jun. 30, 2012
ORGANIZATION AND DESCRIPTION OF BUSINESS  
ORGANIZATION AND DESCRIPTION OF BUSINESS
NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS
 
Psychic  Friends  Network,  Inc.  (PFNI.BB)  hereinafter,  ("the  Company")  was
incorporated  in the State of Nevada on May 9, 2007 under the name "Web  Wizard,
Inc.".  On January 30, 2012 the  Company's  board  passed a motion to change the
corporate name to "Psychic Friends Network, Inc." pursuant to the plan of merger
executed on January 27, 2012.  As part of this  agreement,  all of the assets of
PFN Holdings were purchased.  These assets are an integral part of the Company's
business development and ultimately the realization of the Company's anticipated
cash flows.
 
The  Company  is  in  the  business  of  website  development.  Our  website  is
www.psychicfriendsnetwork.com. We were originally incorporated and operated with
an aim to providing web services and products that enable small and medium-sized
businesses to establish, maintain, promote and optimize their Internet presence.
We commenced business  operations by selling a web design solutions package to a
restaurant located in Canada.
 
BASIS OF PRESENTATION
 
The  Company  is  considered  to be a  development  stage  company  and  has not
generated  significant  revenues  from  operations.   There  is  no  bankruptcy,
receivership, or similar proceedings against our company.
 
The accompanying  unaudited interim  financial  statements have been prepared in
accordance with accounting principles generally accepted in the United States of
America  and the rules and  regulations  of the  United  States  Securities  and
Exchange Commission for interim financial information.
 
The  financial  information  as of June 30,  2012 are  derived  from the audited
financial  statements  presented in the Company's Annual Report on Form 10-K for
the years ended  September 30, 2011 and 2010.  The unaudited  interim  financial
statements  should be read in  conjunction  with the Company's  Annual Report on
Form 10-K,  which contains the audited  financial  statements and notes thereto,
together with the  Management's  Discussion  and  Analysis,  for the years ended
September 30, 2011 and 2010.
 
Certain  information  or footnote  disclosures  normally  included in  financial
statements prepared in accordance with accounting  principles generally accepted
in the United States of America have been condensed or omitted,  pursuant to the
rules and  regulations  of the  Securities  and Exchange  Commission for interim
financial  reporting.  Accordingly,  they do not include all the information and
footnotes  necessary for a  comprehensive  presentation  of financial  position,
results of operations,  or cash flows. It is management's opinion, however, that
all material adjustments  (consisting of normal recurring adjustments) have been
made  which are  necessary  for a fair  financial  statement  presentation.  The
interim  results for the three  months  ended June 30, 2012 are not  necessarily
indicative of results for the full fiscal year.
 
GOING CONCERN
 
The accompanying  financial  statements have been prepared  assuming the Company
will continue as a going concern.  Its ability to continue as a going concern is
dependent  upon the ability of the Company to obtain the necessary  financing to
meet its  obligations  and pay its  liabilities  arising  from  normal  business
operations when they come due. Furthermore, as of June 30, 2012, the Company has
accumulated losses from inception (May 9, 2007) of $282,769.  Likewise, net cash
used in  operations  from  inception  (May 9,  2007)  through  June 30,  2012 is
$194,440. The outcome of these matters cannot be predicted with any certainty at
this time and raise  substantial doubt that the Company will be able to continue
as a going concern. These financial statements do not include any adjustments to
the amounts and  classification  of assets and liabilities that may be necessary
should the Company be unable to continue as a going concern. Management believes
that the Company will need to obtain additional  funding by borrowing funds from
its  directors  and  officers,  or a private  placement of common stock  through
various sales and public offerings.