UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2017
Commission File Number 001-35597
ALL MARKETING SOLUTIONS, INC.
(Exact name of registrant as specified in its charter)
Nevada 26-3895737
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)
112 North Curry Street - Carson City - Nevada 89703-4934
(Address of principal executive offices)(Zip Code)
(775) 321-8206
(Registrants telephone number, including area code)
N/A
(Former name, former address and former fiscal year, if changed since last report)
Indicate by check mark whether the registrant (1) has filed all reports required to be filed 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 days.
(_)Yes
(X)No
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). (_) 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 (_) (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 Exchange Act). (X)Yes (_) No
APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS:
Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court
(_)Yes (_) No
APPLICABLE ONLY TO CORPORATE ISSUERS:
As of May 30, 2018 there were 104,710,000 shares of common stock issued and outstanding.
1
TABLE of CONTENTS
PART IFINANCIAL INFORMATION | 3 |
Item 1. Financial Statements | 3 |
Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations | 9 |
Item 3. Quantitative and Qualitative Disclosures About Market Risk | 9 |
Item 4. Controls and Procedures | 9 |
PART IIOTHER INFORMATION . | 10 |
Item 1. Legal Proceedings | 10 |
Item 1A. Risk Factors .. | 10 |
Item 2. Unregistered Sales of Securities and Use of Proceeds .. | 10 |
Item 3. Defaults Upon Senior Securities | 10 |
Item 4. Mine Safety Disclosures . | 10 |
Item 5. Other Information . | 10 |
Item 6. Exhibits .. | 10 |
2
PART IFINANCIAL INFORMATION
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ALL MARKETING SOLUTIONS, INC. |
(FKA Patents Professional, Inc.) |
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CONDENSED INTERIM FINANCIAL STATEMENTS |
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June 30, 2017 |
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Unaudited |
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CONDENSED UNAUDITED BALANCE SHEETS |
CONDENSED UNAUDITED STATEMENTS OF OPERATIONS |
CONDENSED UNAUDITED STATEMENTS OF CASH FLOWS |
NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS |
3
ALL MARKETING SOLUTIONS, INC.
(FKA Patents Professional, Inc.)
CONDENSED UNAUDITED BALANCE SHEETS
Unaudited
|
| June 30, 2017 |
| December 31, 2016 |
ASSETS | | | | |
CURRENT ASSETS | | | | |
Cash | $ | - | $ | - |
TOTAL CURRENT ASSETS | $ | - | $ | - |
| | | | |
TOTAL ASSETS | $ | - | $ | - |
| | | | |
LIABILITIES AND STOCKHOLDERS' EQUITY/(DEFICIT) | | | | |
CURRENT LIABILITIES | | | | |
Accounts payable and accrued liabilities | $ | 166,965 | $ | 157,470 |
Accounts payable - related party | | 34,650 | | 34,650 |
Loans from related party |
| 117,435 |
| 117,435 |
TOTAL CURRENT LIABILITIES | $ | 319,050 | $ | 309,555 |
| | | | |
STOCKHOLDERS' EQUITY/(DEFICIT) | | | | |
Capital stock | | | | |
Authorized | | | | |
200,000,000 shares of common stock, $0.001 par value, | | | | |
Issued and outstanding | | | | |
104,710,000 shares at June 30, 2017 & at December 31, 2016 | $ | 104,710 | $ | 104,710 |
Additional Paid in Capital | | 960,610 | | 960,610 |
Accumulated Deficit |
| (1,384,370) |
| (1,374,875) |
TOTAL STOCKHOLDERS' EQUITY/(DEFICIT) | $ | (319,050) | $ | (309,555) |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY/(DEFICIT) | $ | - | $ | - |
The accompanying notes are an integral part of these unaudited condensed financial statements
4
ALL MARKETING SOLUTIONS, INC.
(FKA Patents Professional, Inc.)
CONDENSED UNAUDITED STATEMENTS OF OPERATIONS
Unaudited
| | Three months ended | | Three months ended | | Six Months ended | | Six Months ended |
|
| June 30, 2017 |
| June 30, 2016 |
| June 30, 2017 |
| June 30, 2016 |
REVENUE | | | | | | | | |
Revenues | $ | - | $ | - | $ | - | $ | - |
Total Revenues | $ | - | $ | - | $ | - | $ | - |
| | | | | | | | |
EXPENSES | | | | | | | | |
Office and general | $ | 1,100 | $ | 970 | $ | 3,270 | $ | 1,570 |
Professional Fees | | 3,000 | | 2,250 | | 6,225 | | 4,500 |
Total Expenses | $ | 4,100 | $ | 3,220 | $ | 9,495 | $ | 6,070 |
| | | | | | | | |
NET LOSS | $ | (4,100) | $ | (3,220) | $ | (9,495) | $ | (6,070) |
| | | | | | | | |
BASIC AND DILUTED LOSS PER COMMON SHARE | $ | (0.00) | $ | (0.00) | $ | (0.00) | $ | (0.00) |
| | | | | | | | |
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING | $ | 104,710,000 | $ | 104,710,000 | $ | 104,710,000 | $ | 104,710,000 |
The accompanying notes are an integral part of these unaudited condensed financial statements
5
ALL MARKETING SOLUTIONS, INC.
(FKA Patents Professional, Inc.)
CONDENSED UNAUDITED STATEMENTS OF CASH FLOWS
Unaudited
| | | Six months ended | | Six months ended |
|
|
| June 30, 2017 |
| June 30, 2016 |
OPERATING ACTIVITIES | | | | | |
| Net loss | $ | (9,495) | $ | (6,070) |
| Adjustment to reconcile net loss to net cash used in operating activities | | | | |
| Increase (decrease) in accounts payable and accrued liabilities |
| 9,495 |
| 6,070 |
| | | | | |
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | $ | - | $ | - | |
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | $ | - | $ | - | |
NET CASH PROVIDED BY FINANCING ACTIVITIES | $ | - | $ | - | |
NET INCREASE (DECREASE) IN CASH | $ | - | $ | - | |
| | | | | |
CASH, BEGINNING OF PERIOD | $ | - | $ | - | |
CASH, END OF PERIOD | $ | - | $ | - | |
| | | | | |
Supplemental cash flow information: | | | | | |
Cash paid for: | | | | | |
| Interest | $ | - | $ | - |
| Income taxes | $ | - | $ | - |
The accompanying notes are an integral part of these unaudited condensed financial statements
6
ALL MARKETING SOLUTIONS, INC. |
(FKA Patents Professional, Inc.) |
|
NOTES TO THE UNAUDITED CONDENSED INTERIM FINANCIAL STATEMENTS |
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June 30, 2017 |
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NOTE 1 CONDENSED FINANCIAL STATEMENTS |
The accompanying financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at June 30, 2017, and for all periods presented herein, have been made. |
Certain information and 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. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Companys December 31, 2016 audited financial statements. The results of operations for the periods ended June 30, 2017 and the same period last year are not necessarily indicative of the operating results for the full years.
Reclassification of Prior Year Presentation
Certain prior year amounts have been reclassified for consistency with the current period presentation. These relcassifications had no effect on the reported results of operations. |
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NOTE 2 GOING CONCERN |
The Companys financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern. This contemplates the realization of assets and the liquidation of liabilities in the normal course of business. Currently, the Company has a working capital deficit of $319,050, an accumulated deficit of $1,384,370. The Company does not have a source of revenue sufficient to cover its operation costs giving substantial doubt for it to continue as a going concern. The Company will be dependent upon the raising of additional capital through placement of our common stock in order to implement its business plan, or merge with an operating company. There can be no assurance that the Company will be successful in either situation in order to continue as a going concern. The Company is funding its initial operations by way of issuing Founders shares. |
In order to continue as a going concern, the Company will need, among other things, additional capital resources. Managements plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking equity and/or debt financing. However management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. |
The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. |
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NOTE 3 CAPITAL STOCK |
The Companys capitalization is 200,000,000 common shares with a par value of $0.001 per share. No preferred shares have been authorized or issued. |
As of June 30, 2017, the Company has not granted any stock options and has not recorded any stock-based compensation. |
As of June 30, 2017, 104,710,000 (104,710,000 as of December 31, 2016) common shares were issued and outstanding. |
7
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NOTE 4 LOANS PAYABLE RELATED PARTY LOANS |
At June 30, 2017 the Company received loans from four different related parties totaling $117,435 ($117,435 at December 31, 2016.) These loans are payable on demand and without interest. $34,650 ($34,650 at December 31, 2016) of expenses were paid by two related parties and are recorded as accounts payable related party on the balance sheet.. |
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NOTE 5 - RECENT ACCOUNTING PRONOUNCEMENTS |
The Company has evaluated all the recent accounting pronouncements and believes that none of them will have a material effect on the Companys financial statement. |
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NOTE 6 - SUBSEQUENT EVENTS |
The Company has evaluated subsequent events from the balance sheet date through the date the financial statements were issued and has determined that there are no further events to disclose. |
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Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations.
This section of this Form 10-Q 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. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our predictions.
Results of Operations
For the three month period ended June 30, 2017 we had no revenue. Expenses for the three month period ended June 30, 2017 totaled $4,100 resulting in a Net loss of $4,100 compared to expenses totaling $3,220 and a net loss of $3,220 for the three month period ended June 30, 2016. The Net Loss for the three month period ended June 30, 2017 was a result of office and general expense of $1,100 comprised primarily of web site maintenance expense, professional fees of $3,000 comprised primarily of accounting expense. The Net Loss for the three month period ended June 30, 2016 is a result of office and general expense of $970 comprised primarily of web site maintenance expense and filing fees, professional fees of $2,250 comprised primarily of accounting expense.
For the six month period ended June 30, 2017 we had no revenue. Expenses for the six month period ended June 30, 2017 totaled $9,495 resulting in a Net loss of $9,495 compared to expenses totaling $6,070 and a net loss of $6,070 for the six month period ended June 30, 2016. The Net Loss for the six month period ended June 30, 2017 was a result of office and general expense of $3,270 comprised primarily of web site maintenance fees, filling fees and transfer fees, professional fees of $6,225 comprised primarily of accounting expense. The Net Loss for the six month period ended June 30, 2016 is a result of office and general expense of $1,570 comprised primarily of web site maintenance fees and filing fees, professional fees of $4,500 comprised primarily of accounting expense.
Capital Resources and Liquidity
Our auditors have issued a going concern opinion, meaning that there is substantial doubt if we can continue as an on-going business for the next twelve months unless we obtain additional capital. No substantial revenues are anticipated until we have completed the financing from this offering and implemented our plan of operations. With the exception of cash advances from our sole Officer and Director, our only source for cash at this time is investments by others in this offering. We must raise cash to implement our strategy and stay in business.
As of June 30, 2017 we had $Nil in cash as compared to $Nil in cash at December 31, 2016. The funds available to the Company will not be sufficient to fund the planned operations of the Company and maintain a reporting status. Our current cash holdings will not satisfy our liquidity requirements and we will require additional financing to pursue our planned business activities. We previously registered 4,000,000 shares of our common stock for sale to the public. Our registration statement became effective on November 1, 2011 and we are still in the process of seeking additional equity financing in the form of private placements to fund our operations over the next 12 months.
Management believes that if subsequent private placements are successful, we will generate sales revenue within twelve months thereof. However, additional equity financing may not be available to us on acceptable terms or at all, and thus we could fail to satisfy our future cash requirements.
We do not anticipate researching and releasing any further features to our software nor do we foresee the purchase or sale of any significant equipment. We also do not expect any significant additions to the number of employees.
Off-balance sheet arrangements
Other than the situation described in the section titled Capital Recourses and Liquidity, the company has no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect or change on the companys financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors. The term off-balance sheet arrangement generally means any transaction, agreement or other contractual arrangement to which an entity unconsolidated with the company is a party, under which the company has (i) any obligation arising under a guarantee contract, derivative instrument or variable interest; or (ii) a retained or contingent interest in assets transferred to such entity or similar arrangement that serves as credit, liquidity or market risk support for such assets
9
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
Disclosure controls and procedures are controls and other procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported, within the time period specified in the SEC's rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed in our reports filed or submitted under the Securities Exchange Act of 1934 is accumulated and communicated to management including our principal executive officer and principal financial officer as appropriate, to allow timely decisions regarding required disclosure.
In connection with this quarterly report, as required by Rule 15d-15 under the Securities Exchange Act of 1934, we have carried out an evaluation of the effectiveness of the design and operation of our company's disclosure controls and procedures. This evaluation was carried out under the supervision and with the participation of our company's management, including our company's principal executive officer and principal financial officer. Based upon that evaluation, our company's principal executive officer and principal financial officer concluded that subject to the inherent limitations noted in this Part II, Item 9A(T) as of June 30, 2017 our disclosure controls and procedures were not effective due to the existence of material weaknesses in our internal controls over financial reporting.
Changes in Internal Control Over Financial Reporting
There were no changes in our internal control over financial reporting (as defined in Rule 13a-15(f) or 15d-15(f)) during the quarter ended June 30, 2017 that have materially affected, or are reasonably likely to materially affect, our internal controls over financial reporting.
PART IIOTHER INFORMATION
Item 1. Legal Proceedings.
Currently we are not involved in any pending litigation or legal proceeding.
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 Securities and Use of Proceeds.
None
Item 3. Defaults Upon Senior Securities.
None
Item 4. Mine Safety Disclosures.
None
Item 5. Other Information.
None
10
Item 6. Exhibits.
3(i) | Articles of Incorporation1 |
3(ii) | Bylaws2 |
31.1 | Rule 13(a)-14(a)/15(d)-14(a) Certification of Chief Executive Officer |
31.2 | Rule 13(a)-14(a)/15(d)-14(a) Certification of Chief Financial Officer * |
32.1 | Section 1350 Certification of Chief Executive Officer |
32.2 | Section 1350 Certification of Chief Financial Officer ** |
(1) Incorporated by reference to the Registrants Registration Statement on Form S-1 (File No. 333-160031), filed with the Securities and Exchange Commission on June 17, 2011.
(2) Incorporated by reference to the Registrants Registration Statement on Form S-1 (File No. 333-160031), filed with the Securities and Exchange Commission on June 17, 2011.
* Included in Exhibit 31.1
** Included in Exhibit 32.1
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.
All Marketing Solutions, Inc.
(Registrant)
Date: June 07, 2018 By:/s/ Nathathai Thongda
Nathathai Thongda
President and Director
Principal and Executive Officer
Principal Financial Officer
Principal Accounting Officer
11
Exhibit 31.1
CERTIFICATIONS
I, Nathathai Thongda, certify that:
1. I have reviewed this quarterly report of All Marketing Solutions, Inc.;
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. I am 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 the 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 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 controls and procedures, or caused such disclosure controls and procedures 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 registrants 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 registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and
5. I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrants auditors and the audit committee of the registrants board of directors (or persons performing equivalent functions):
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 registrants 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 registrants internal control over financial reporting.
/s/ Nathathai Thongda
Nathathai Thongda
President, Secretary Treasurer, Principal Executive Officer,
Principal Financial Officer and Director
Date: June 07, 2018
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
In connection with the Quarterly Report on Form 10-Q for the period ended June 30, 2017 of All Marketing Solutions, Inc., a Nevada corporation (the "Company"), as filed with the Securities and Exchange Commission on the date hereof (the "Transition Report"), I, Nathathai Thongda, President and Chief Financial Officer of the Company certify, pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:
1. The Quarterly Report fully complies with the requirements of Section 13(a) or15(d) of the Securities and Exchange Act of 1934, as amended; and
2. The information contained in this Quarterly Report fairly presents, in all material respects, the financial condition and results of operation of the Company.
/s/ Nathathai Thongda
Nathathai Thongda
President, Secretary Treasurer, Principal Executive Officer,
Principal Financial Officer and Director
Date: June 07, 2018
Document and Entity Information - USD ($) |
6 Months Ended | |
---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Document and Entity Information: | ||
Entity Registrant Name | All Marketing Solutions, Inc. | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2017 | |
Trading Symbol | ptpro | |
Amendment Flag | false | |
Entity Central Index Key | 0001464300 | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 104,710,000 | |
Entity Public Float | $ 104,710 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | Yes | |
Entity Well-known Seasoned Issuer | No | |
Document Fiscal Year Focus | 2017 | |
Document Fiscal Period Focus | Q2 |
Condensed Balance Sheets - Unaudited - USD ($) |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Current Assets | ||
Cash | ||
Total Current Assets | ||
Total Assets | ||
Current Liabilities | ||
Accounts Payable and Accrued Liabilities | 166,965 | 157,470 |
Accounts Payable - related party | 34,650 | 34,650 |
Loans from related party | 117,435 | 117,435 |
Total Current Liabilities | 319,050 | 309,555 |
Stockholders' Equity (Deficit) | ||
Common Stock, Value, Issued | 104,710 | 104,710 |
Additional Paid in Capital | 960,610 | 960,610 |
Accumulated deficit | (1,384,370) | (1,374,875) |
Total Stockholders' Equity/Defict | (319,050) | (309,555) |
Total Liabilities and Stockholder's Equity (Deficit) | $ 0 | $ 0 |
Statement of Financial Position - Parenthetical - $ / shares |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Balance Sheets | ||
Common Stock, Par Value | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 200,000,000 | 200,000,000 |
Common Stock, Shares Issued | 104,710,000 | 104,710,000 |
Common Stock, Shares Outstanding | 104,710,000 | 104,710,000 |
Condensed Statement of Operations - Unaudited - USD ($) |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Revenue | ||||
Revenues | ||||
Total Revenues | ||||
Expenses | ||||
Office and General | 1,100 | 970 | 3,270 | 1,570 |
Professional Fees | 3,000 | 2,250 | 6,225 | 4,500 |
Total Expenses | 4,100 | 3,220 | 9,495 | 6,070 |
Net Loss | $ (4,100) | $ (3,220) | $ (9,495) | $ (6,070) |
Basic and Diluted Loss per Common Share | ||||
Weighted Average Number of Common Shares Outstanding | 104,710,000 | 104,710,000 | 104,710,000 | 104,710,000 |
Condensed Statement of Cash Flows - Unaudited - USD ($) |
6 Months Ended | |
---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Operating Activities | ||
Net Income (Loss) | $ (9,495) | $ (6,070) |
Adjustments to Reconcile Net Loss to net cash used in Operating Activities: | ||
Increase (Decrease) in accounts payable and Accrued Liabilities | 9,495 | 6,070 |
Net Cash Provided by (Used in) Operating Activities | ||
Net Cash Provided by (Used in) Investing Activities | ||
Net Cash Provided by (Used in) Financing Activities | ||
Net Increase (Decrease) in Cash | ||
Cash beginning of period | ||
Cash end of period | ||
Supplemental cash flow information and noncash financing activities: | ||
Interest | ||
Income taxes |
Note 1 - Condensed Financial Statements |
3 Months Ended |
---|---|
Jun. 30, 2017 | |
Notes | |
Note 1 - Condensed Financial Statements | NOTE 1 CONDENSED FINANCIAL STATEMENTS
The accompanying financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at June 30, 2017, and for all periods presented herein, have been made.
Certain information and 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. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Companys December 31, 2016 audited financial statements. The results of operations for the periods ended June 30, 2017 and the same period last year are not necessarily indicative of the operating results for the full years.
|
Note 2 - Going Concern |
3 Months Ended |
---|---|
Jun. 30, 2017 | |
Notes | |
Note 2 - Going Concern | NOTE 2 GOING CONCERN The Companys financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern. This contemplates the realization of assets and the liquidation of liabilities in the normal course of business. Currently, the Company has a working capital deficit of $319,050, an accumulated deficit of $1,384,370. The Company does not have a source of revenue sufficient to cover its operation costs giving substantial doubt for it to continue as a going concern. The Company will be dependent upon the raising of additional capital through placement of our common stock in order to implement its business plan, or merge with an operating company. There can be no assurance that the Company will be successful in either situation in order to continue as a going concern. The Company funded its initial operations by way of issuing Founders shares. In order to continue as a going concern, the Company will need, among other things, additional capital resources. Managements plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking equity and/or debt financing. However management cannot provide any assurances that the Company will be successful in accomplishing any of its plans.
The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.
|
Note 3 - Capital Stock |
3 Months Ended |
---|---|
Jun. 30, 2017 | |
Notes | |
Note 3 - Capital Stock | NOTE 3 CAPITAL STOCK The Companys capitalization is 200,000,000 common shares with a par value of $0.001 per share. No preferred shares have been authorized or issued. As of June 30, 2017, the Company has not granted any stock options and has not recorded any stock-based compensation.
As of June 30, 2017, 104,710,000 (104,710,000 as of December 31, 2016) common shares were issued and outstanding.
|
Note 4 - Loan Payable - Related Party Loans |
3 Months Ended |
---|---|
Jun. 30, 2017 | |
Notes | |
Note 4 - Loan Payable - Related Party Loans | NOTE 4 LOAN PAYABLE - RELATED PARTY LOANS As of June 30, 2017 the Company received a loan from related parties totaling $117,435 ($117,435 at December 31, 2016). These loans are payable on demand and without interest. $34,650,($34,650 at December 31, 2016) of expenses were paid by two related parties and are recorded as account payable related party on the balance sheet. |
Note 5 - Recent Accounting Pronouncements |
3 Months Ended |
---|---|
Jun. 30, 2017 | |
Notes | |
Note 5 - Recent Accounting Pronouncements | NOTE 5 - RECENT ACCOUNTING PRONOUNCEMENTS
The company has evaluated all the recent accounting pronouncements and believes that none of them will have a material effect on the companys financial statement.
|
Note 6 - Subsequent Events |
3 Months Ended |
---|---|
Jun. 30, 2017 | |
Notes | |
Note 6 - Subsequent Events | NOTE 6 - SUBSEQUENT EVENTS
The Company has evaluated subsequent events from the balance sheet date through the date the financial statements were issued and has determined that there are no further events to disclose. |
Note 2 - Going Concern (Details) |
Jun. 30, 2017
USD ($)
|
---|---|
Details | |
Working capital deficit | $ 319,050 |
Accumulated deficit | $ 1,384,370 |
Note 3 - Capital Stock (Details) - $ / shares |
Jun. 30, 2017 |
Mar. 31, 2017 |
---|---|---|
Details | ||
Common shares | 200,000,000 | |
Common shares with a par value | $ 0.001 | |
CommonSharesIssuedAndOutstanding | 104,710,000 |
Note 4 - Loan Payable - Related Party Loans (Details) - USD ($) |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Details | ||
Loans | $ 117,435 | |
Expenses paid on behalf of the company | $ 34,650 |
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