0001393905-11-000786.txt : 20111115 0001393905-11-000786.hdr.sgml : 20111115 20111115163801 ACCESSION NUMBER: 0001393905-11-000786 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 9 CONFORMED PERIOD OF REPORT: 20111031 FILED AS OF DATE: 20111115 DATE AS OF CHANGE: 20111115 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Goa Sweet Tours Ltd. CENTRAL INDEX KEY: 0001472468 STANDARD INDUSTRIAL CLASSIFICATION: TRANSPORTATION SERVICES [4700] IRS NUMBER: 980632932 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-54520 FILM NUMBER: 111207606 BUSINESS ADDRESS: STREET 1: H. NO. 889, ASCONA STREET 2: PATEM, BENAULIM CITY: GOA STATE: K7 ZIP: 403716 BUSINESS PHONE: (011)91989-055-77-27 MAIL ADDRESS: STREET 1: H. NO. 889, ASCONA STREET 2: PATEM, BENAULIM CITY: GOA STATE: K7 ZIP: 403716 10-Q 1 goas_10q.htm 10Q 10Q


UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549


FORM 10-Q


(X) QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended October 31, 2011


OR


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

For the transition period from ______________ to ______________


Commission File Number 333-161997


GOA SWEET TOURS LTD.

(Exact name of registrant as specified in its charter)


NEVADA

(State or other jurisdiction of incorporation or organization)

98-0632932

(IRS Employer Identification No.)


H. no 889, Ascona, Patem

Benaulim, Goa, India 403716

(Address of principal executive offices)


(011) 91-98-90-55-77-27

(Registrant’s telephone number)


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 [   ] No [X]


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 during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).  Yes [   ] No [   ]


Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.


Large accelerated filer

[   ]

Accelerated filer

[   ]

Non-accelerated filer

[   ]

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).  Yes [   ] No [X]


Indicate the number of outstanding of each of the registrant’s classes of common stock, as of the latest practicable date: The registrant had 8,000,000 shares of common stock, $0.001 par value outstanding at November 11, 2011. The registrant has no other class of common equity.




 





PART I.  FINANCIAL INFORMATION


Item 1

Consolidated Financial Statements.


Goa Sweet Tours Ltd.

(A Development Stage Company)

Consolidated Balance Sheets



 

October 31,

2011

-$-

 

July 31,

2011

-$-

 

(Unaudited)

 

 

ASSETS

 

 

 

Current assets

 

 

 

Cash

12,719

 

1,418

    Total current assets

12,719

 

1,418

      Total assets

12,719

 

1,418

 

 

 

 

LIABILITIES AND STOCKHOLDERS’ DEFICIT

 

 

 

LIABILITIES

 

 

 

Current liabilities

 

 

 

Accounts payables and accrued liabilities

5,325

 

-

Related party advances payable

22,171

 

8,902

    Total current liabilities

27,496

 

8,902

    Total liabilities

27,496

 

8,902

 

 

 

 

STOCKHOLDERS’ DEFICIT

 

 

 

 

 

 

 

Preferred stock: $0.001 par value, 100,000,000 authorized,0  issued and outstanding

-

 

-

Common shares: $0.001 par value, 100,000,000 authorized, 8,000,000 issued

      and outstanding as of October 31, 2011 and July 31, 2011.

8,000

 

8,000

Additional paid-in capital

47,000

 

47,000

Deficit accumulated during the development stage

(69,777)

 

(62,484)

     Total stockholders’ deficit

(14,777)

 

(7,484)

     Total liabilities and stockholders’ deficit

12,719

 

1,418






(See Notes to the consolidated financial statements)



F-1



2





Goa Sweet Tours Ltd.

(A Development Stage Company)

Consolidated Statements of Operations

(Unaudited)




 

For the Three Months

Ended October 31

Period From September 2, 2008 (inception) to

October 31

 

2011

2010

2011

 

$

$

$

Expenses:

 

 

 

  General and administrative

2,043

10,445

21,939

  Professional fees

5,250

5,250

47,838

Net loss

(7,293)

(15,695)

(69,777)

 

 

 

 

Net loss per share - basic and diluted

(0.00)

(0.00)

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding - basic and diluted

8,000,000

8,000,000

 





(See Notes to the consolidated financial statements)



F-2



3




Goa Sweet Tours Ltd.

(A Development Stage Company)

Consolidated Statements of Cash Flows

(Unaudited)




 

For the Three Months

Ended October 31

Period From September 2, 2008 (inception) to

October 31

 

2011

2010

2011

 

$

$

$

 

 

 

 

Cash flows from operating activities

 

 

 

Net loss

(7,293)

(15,695)

(69,777)

  Adjustments to reconcile to net cash used in operating activities:

 

 

 

Change in operating assets and liabilities

 

 

 

 Accounts payables and accrued liabilities

5,325

8,590

5,325

Net cash used In operating activities

(1,968)

(7,105)

(64,452)

 

 

 

 

Cash flows from financing activities

 

 

 

Proceeds from common stock issued for cash

-

-

55,000

Proceeds from related parties advances payables

13,269

1,873

22,171

Net cash provided by financing activities

13,269

1,873

77,171

 

 

 

 

Net increase (decrease) in cash

11,301

(5,232)

12,719

Cash - beginning of period

1,418

 

-

 

 

14,429

 

Cash - end of period

12,719

9,197

12,719

 

 

 

 

Supplemental cash flow information:

 

 

 

Cash paid for:

 

 

 

 - Interest

 - Income tax





(See Notes to the consolidated financial statements)



F-3



4




Goa Sweet Tours Ltd.
(A Development Stage Company)
Notes to the consolidated financial statements
October 31, 2011
(Unaudited)  



Note 1. Basis of Presentation


Unaudited Interim consolidated financial statements


The accompanying unaudited interim consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q of Regulation S-X. They may not include all information and footnotes required by United States generally accepted accounting principles for complete financial statements. However, except as disclosed herein, there has been no material changes in the information disclosed in the notes to the financial statements for the year ended July 31, 2011 included in the Company’s Registration Statement filed with the Securities and Exchange Commission. The interim unaudited financial statements should be read in conjunction with those financial statements included in the Form 10-K. In the opinion of management, all adjustments considered necessary for a fair presentation, consisting solely of normal recurring adjustments, have been made. Operating results for the three months ended October 31, 2011 are not necessarily indicative of the results that may be expected for the year ending July 31, 2012.


Note 2. Going Concern


The accompanying financial statements have been prepared on the basis of accounting principles applicable to a going concern; accordingly, they do not give effect to adjustment that would be necessary should the Company be unable to continue as a going concern and therefore be required to realize its assets and retire its liabilities in other than the normal course of business and at amounts different from those in the accompanying financial statements. Management plans to raise cash from public or private debt or equity financing on an as needed basis and in the longer term, to generate revenues from the acquisition, exploration and development of mineral interests, if found. The Company's ability to continue as a going concern is dependent upon achieving profitable operations and/or upon obtaining additional financing. The outcome of these matters cannot be predicted at this time.


Note 3. Related Party Advances Payable


As at October 31, 2011 the Company owed $22,171 to associates of the Company’s management. These advances are unsecured, payable on demand and non-interest bearing. Our director and his associated have verbally agreed to advance the Company to a maximum of $40,000.


F-4



5




Item 2. Management's Discussion and Analysis of Financial Conditions and Results of Operations.


Goa Sweet Tours Ltd. was incorporated in the State of Delaware on September 2, 2008. We were formed to provide personalized concierge tour packages to tourists who visit the State of Goa, India. We initially plan to market our packages to tourists already in the State of Goa through the relationships with travel agents and small resort operators that our President, Mr. Chuntan Vernekar, has developed through his years of experience in the tour business. We also plan to develop a website for advertising our services which will be the virtual business card and portfolio for the Company.


There have been no material reclassifications, mergers, consolidations or purchases or sales of any significant amount of assets not in the ordinary course of business since the date of incorporation. The Company has never been party to any bankruptcy, receivership or similar proceeding, nor has it undergone any material reclassification, merger, consolidation, purchase or sale of a significant amount of assets not in the ordinary course of business.


We are a development stage company and we are a company without revenues or operations. We have minimal assets and have incurred losses since inception. Our limited start-up operations have consisted of the formation of our business plan and identification of our target market.  We had anticipated that our sales will begin in October 2010; the start of the tourist season in Goa, but due to unforeseen commitment, our President cannot be presently available to get our business plan forward. We plan to move forward in the later part of 2011.


Our administrative offices are currently located at the premises of our President, Chuntan Vernekar, who provides such space to us on a rent-free basis at H. no. 889, Ascona, Patem, Benaulim, Goa, India. We plan to use these offices until we require larger space.


Plan of Operation


About Our Company


We intend to develop all-inclusive travel packages that will provide concierge-style personalized service for the visitor who travels to Goa.  Many large hotels and resorts have their own tour services and websites and we will be competing with the foregoing. We intend to differentiate ourselves by offering a much more personalized service. We intend to act as a personal concierge or executive assistant throughout the duration of the trip.


We also hope to create strategic partnerships with smaller hotels and resorts that do not have their own tour services and that will recommend our services to the visitors to Goa. The partnerships that we plan to develop will enable us to grow our customer base and expand our business by increasing exposure to our website to the consumers that view our sponsors’ websites.  We have not yet attempted to create any strategic partnerships or develop our website.



6





We expect that our customers will be able to choose from tour packages that involve travel in and throughout the State of Goa. The tours may include nature adventures, shopping sprees and relaxation-oriented getaways.  We plan to offer tours to families and groups of friends or individuals up to a maximum of eight people.  The tours within the State of Goa will be one-day tours. Tours outside of Goa will last up to one week.  Tour clients will be responsible for their own food and lodging, although we will provide recommendations. We plan to use trilingual guides (in English, Konkani (the native language of Goans) and Hindi) for each package.  Our tours will also include car, chauffeur, and dinner reservations to places of our guests’ choosing. Initially all of our cars will be leased, although we, may, in the future, purchase a vehicle with a capacity for four passengers.


We have not conducted any market research into the likelihood of success of our operations or the acceptance of our products or services by the public.  We are relying on the experience of our President, Mr. Chuntan Vernekar, who will be devoting approximately 15 hours a week of his time to our operations. Once we begin operations, and are able to attract clients to use our services, Mr. Vernekar has agreed to commit more time as required.


We have been issued a "substantial doubt" going concern opinion from our auditors and our only asset is our cash balance of $12,719 with liabilities of $27,496.


To develop our website, we will begin to design an information page which will utilize artwork and a logo and include our mission statement, a brief biography of our President, pictures of locations, our services, fee structure, contact information and ordering instructions. This information page will serve as an “e-brochure.”  We plan to distribute the e-brochure electronically via the internet in accordance with all laws governing online solicitation known as spam mail. We plan to obtain the email addresses from various alliances such as hotel operators and travel agents. We will contract web space from a local Internet service provider.  We intend to establish an office in our President’s premises to maintain the website and database. This will include physical office space, computer equipment, telephones and other assets as required to maintain the operations.  


Since we became a reporting company we are responsible for filing various forms with the United States Securities and Exchange Commission (the “SEC”) such as Form 10K and Form 10Qs.


The shareholders may read and copy any material filed by us with the SEC at the SEC’s Public Reference Room at 100 F Street N.W., Washington, DC, 20549.   The shareholders may obtain information on the operations of the Public Reference Room by calling the SEC at 1-800-SEC-0330.   The SEC maintains an Internet site that contains reports, proxy and information statements, and other information which we have filed electronically with the SEC by assessing the website using the following address:  http://www.sec.gov.  


We are in dire need for injection of funds totaling $40,000 to execute our business and repay advance received. To survive as a reporting entity for the next 12 months, we require $14,000. We are in contact with various persons but there is no assurance we will succeed in securing additional funding.



7





Results of Operations


We did not earn any revenues for the three months ended October 31, 2011 and from inception on September 2, 2008 to October 31, 2011. We do not expect to realize any revenues until our business plan is implemented. Then our revenue will be generated from fees paid by customers for transportation services and tour packages, as well as commissions from the operators of various tour destinations for introducing them to our customers.  Since inception, we sold 8,000,000 shares of common stock for total proceeds of $55,000.


For the three months ended October 31, 2011, we incurred operating expenses in the amount of $7,293 which mainly comprised of professional fees totaling $5,250 and general and administrative expenses totaling $2,043. For the three months ended October 31, 2010, we incurred operating expenses in the amount of $15,695 which mainly comprises of professional fees totaling $5,250 and general and administrative expenses totaling $10,445 relating to transfer agent fees.


We incurred total operating expenses in the amount of $69,777 from inception on September 2, 2008 through October 31, 2011.  These operating expenses comprised of professional fees totaling $47,838 and general and administrative expenses totaling $21,939.


Liquidity and Capital Resources


As at October 31, 2011, we had a cash balance of $12,719 and current liabilities of $27,496.  


We do not anticipate generating any revenue for the foreseeable future. No other source of capital has been identified or sought. We have experienced a shortfall in operating capital. Our director and his associate have verbally agreed to advance the Company to a maximum of $30,000.


When additional funds become required, the additional funding will come from equity financing from the sale of our common stock. If we are successful in completing an equity financing, existing shareholders will experience dilution of their interest in our company. We do not have any financing arranged and we cannot provide investors with any assurance that we will be able to raise sufficient funding from the sale of our common stock to fund our business plan. In the absence of such financing, our business will fail.


We anticipate incurring operating losses in the foreseeable future. We base this expectation, in part, on the fact that we a development stage company.





8




Our future financial results are also uncertain due to a number of factors, some of which are outside our control. These risk factors are disclosed factors include, but are not limited to:


·

our ability to raise additional funding;

·

the results of our proposed operations


The detailed analysis of the risk factors is disclosed in our Companys registration statement Form S-1 as filed with the Securities and Exchange Commission.


We are in dire need for injection of funds to execute our business and repay advance received and to survive as a reporting entity.


Going Concern Consideration


 The report of our independent registered accounting firm for the year ended July 31, 2011 raises substantial doubt about our ability to continue as a going concern based on the absence of an established source of revenue, recurring losses from operations, and our need for additional financing in order to fund our operations in fiscal 2012.  


Our operations and financial results are subject to numerous various risks and uncertainties that could adversely affect our business, financial condition and results of operations.


Off-Balance Sheet Arrangements


We have no off-balance sheet arrangements including arrangements that would affect our liquidity, capital resources, market risk support and credit risk support or other benefits.


Forward Looking Statements


The information in this quarterly report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These forward-looking statements involve risks and uncertainties, including statements regarding the Company’s capital needs, business strategy and expectations. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expect,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential” or “continue,” the negative of such terms or other comparable terminology. Actual events or results may differ materially. In evaluating these statements, you should consider various factors, including the risks outlined from time to time, in other reports we file with the Securities and Exchange Commission (the “SEC”). These factors may cause our actual results to differ materially from any forward-looking statement. We disclaim any obligation to publicly update these statements, or disclose any difference between its actual results and those reflected in these statements. The information constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.



9





Item 3. Qualitative and Quantitative Disclosure about Market Risks


We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.


Item 4. Controls and Procedures.


Evaluation of Disclosure Controls and Procedures


Our Principal Executive Officer and Principal Financial Officer, after evaluating the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act) as of the end of the period covered by this report, have concluded that, based on the evaluation of these controls and procedures, that our disclosure controls and procedures were effective.


Controls and Procedures over Financial Reporting


Additionally, there were no changes in our internal controls over financial reporting or in other factors that could significantly affect these controls subsequent to the evaluation date.  We have not identified any significant deficiencies or material weaknesses in our internal controls, and therefore there were no corrective actions taken.


PART II - OTHER INFORMATION


Item 1. Legal Proceedings.


The Company currently is not a party to any legal proceedings and, to the Company’s knowledge; no such proceedings are threatened or contemplated.


Item 1A. Risk Factors


We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.


Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.


None


Item 3. Default Upon Senior Securities.


None.


Item 4. Removed and Reserved.


Item 5. Other Information.


None.




10




Item 6. Exhibits and Reports on Form 8-K.


a.

Exhibits


Exhibit Number

Description of Exhibit

 

 

3.1*

Articles of Incorporation*

3.2*

Bylaws*

31.1

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


*Previously filed.


















11




SIGNATURES


In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereto duly authorized.


GOA SWEET TOURS LTD.

(Registrant)


Date: November 15, 2011


By: /s/ Chuntan Vernekar

Chuntan Vernekar
Principal Executive Officer
Principal Financial Officer and Director















12



EX-31 2 goas_ex31.htm CERTIFICATION EXHIBIT 31.1


EXHIBIT 31.1


CERTIFICATION


I, Chuntan Vernekar, certify that:


1.

I have reviewed this Quarterly Report on Form 10-Q of Goa Sweet Tours Ltd.


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 Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and I have:


a.

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the registrant is made known to me, particularly during the period in which this quarterly report is being prepared;

b.

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under my 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 my 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 forth fiscal 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.

I have disclosed, based on my 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 function):


a.

All significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the small business issuer'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 controls over financial reporting.



By: /s/ Chuntan Vernekar

Chuntan Vernekar
Principal Executive Officer and Principal Financial Officer


Date: November 15, 2011








EX-32 3 goas_ex32.htm CERTIFICATION EXHIBIT 32.1

 

EXHIBIT 32.1


PURSUANT TO 18 U.S.C. SECTION 1350
(SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002)



In connection with the Quarterly Report of Goa Sweet Tours Ltd. (the “Company”) on Form 10-QSB for the period ending October 31, 2011 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Chuntan Vernekar, Principal Executive Officer and Principal Financial Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge:


1.

The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and


2.

The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.



By: /s/ Chuntan Vernekar

Chuntan Vernekar
Principal Executive Officer and Principal Financial Officer


Date: November 15, 2011




EX-101.INS 4 goas-20111031.xml XBRL INSTANCE DOCUMENT 10-Q 2011-10-31 false Goa Sweet Tours Ltd. 0001472468 --07-31 8000000 Smaller Reporting Company Yes No No 2012 Q1 12719 1418 12719 1481 12719 1418 5325 22171 8902 27496 8902 27496 8902 8000 8000 47000 47000 -69777 -62484 -14777 -7484 12719 1418 0.001 0.001 100000000 100000000 0.001 0.001 100000000 100000000 8000000 8000000 8000000 8000000 2043 10445 21939 5250 5250 47838 -7293 -15695 -69777 0 0 8000000 8000000 8590 -1968 -7105 -64452 55000 13269 1873 22171 13269 1873 77171 11301 -5232 12719 1418 14429 12719 9197 <!--egx--><p style="MARGIN:0px"><b>Note 1. Basis of Presentation</b></p> <p style="MARGIN:0px"><br></br><br></br></p> <p style="MARGIN:0px"><i>Unaudited Interim consolidated financial statements</i></p> <p style="MARGIN:0px"><br></br><br></br></p> <p style="MARGIN:0px">The accompanying unaudited interim consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q of Regulation S-X. They may not include all information and footnotes required by United States generally accepted accounting principles for complete financial statements. However, except as disclosed herein, there has been no material changes in the information disclosed in the notes to the financial statements for the year ended July 31, 2011 included in the Company&#146;s Registration Statement filed with the Securities and Exchange Commission. The interim unaudited financial statements should be read in conjunction with those financial statements included in the Form 10-K. In the opinion of management, all adjustments considered necessary for a fair presentation, consisting solely of normal recurring adjustments, have been made. Operating results for the three months ended October 31, 2011 are not necessarily indicative of the results that may be expected for the year ending July 31, 2012.</p> <p style="MARGIN:0px">&nbsp;</p> <!--egx--><p style="MARGIN:0px"><b>Note 2. Going Concern</b></p> <p style="MARGIN:0px"><br></br></p> <p style="MARGIN:0px">The accompanying financial statements have been prepared on the basis of accounting principles applicable to a going concern; accordingly, they do not give effect to adjustment that would be necessary should the Company be unable to continue as a going concern and therefore be required to realize its assets and retire its liabilities in other than the normal course of business and at amounts different from those in the accompanying financial statements. Management plans to raise cash from public or private debt or equity financing on an as needed basis and in the longer term, to generate revenues from the acquisition, exploration and development of mineral interests, if found. The Company's ability to continue as a going concern is dependent upon achieving profitable operations and/or upon obtaining additional financing. The outcome of these matters cannot be predicted at this time. </p> <p style="MARGIN:0px">&nbsp;</p> <!--egx--><p style="MARGIN:0px"><b>Note 3. Related Party Advances Payable</b></p> <p style="MARGIN:0px"><br></br><br></br></p> <p style="MARGIN:0px">As at October 31, 2011 the Company owed $22,171 to associates of the Company&#146;s management. These advances are unsecured, payable on demand and non-interest bearing. Our director and his associated have verbally agreed to advance the Company to a maximum of $40,000.</p> 0001472468 2011-08-01 2011-10-31 0001472468 2011-10-31 0001472468 2011-07-31 0001472468 2010-08-01 2010-10-31 0001472468 2008-09-02 2011-10-31 0001472468 2010-10-31 0001472468 2010-07-31 shares iso4217:USD iso4217:USD shares The numbers in this column, for the year ended July 31, 2011, are derived from audited financials. 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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
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Oct. 31, 2010
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EXPENSES   
General and administrative$ 2,043$ 10,445$ 21,939
Professional fees5,2505,25047,838
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Document Type10-Q
Document Period End DateOct. 31, 2011
Amendment Flagfalse
Entity Central Index Key0001472468
Current Fiscal Year End Date--07-31
Entity Common Stock, Shares Outstanding8,000,000
Entity Filer CategorySmaller Reporting Company
Entity Current Reporting StatusYes
Entity Voluntary FilersNo
Entity Well-known Seasoned IssuerNo
Document Fiscal Year Focus2012
Document Fiscal Period FocusQ1
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Related Party Disclosures
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Related Party Disclosures 
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Note 3. Related Party Advances Payable





As at October 31, 2011 the Company owed $22,171 to associates of the Company’s management. These advances are unsecured, payable on demand and non-interest bearing. Our director and his associated have verbally agreed to advance the Company to a maximum of $40,000.

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Note 1. Basis of Presentation





Unaudited Interim consolidated financial statements





The accompanying unaudited interim consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q of Regulation S-X. They may not include all information and footnotes required by United States generally accepted accounting principles for complete financial statements. However, except as disclosed herein, there has been no material changes in the information disclosed in the notes to the financial statements for the year ended July 31, 2011 included in the Company’s Registration Statement filed with the Securities and Exchange Commission. The interim unaudited financial statements should be read in conjunction with those financial statements included in the Form 10-K. In the opinion of management, all adjustments considered necessary for a fair presentation, consisting solely of normal recurring adjustments, have been made. Operating results for the three months ended October 31, 2011 are not necessarily indicative of the results that may be expected for the year ending July 31, 2012.

 

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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
3 Months Ended38 Months Ended
Oct. 31, 2011
Oct. 31, 2010
Oct. 31, 2011
Cash flows from operating activities   
Net loss$ (7,293)$ (15,695)$ (69,777)
Adjustment to reconcile to net cash provided by operating activities   
Accounts payables and accrued liabilities5,3258,5905,325
Net cash used in operating activities(1,968)(7,105)(64,452)
Cash flows from financing activities   
Proceeds from issuance of common stock  55,000
Proceeds from related party advances payables13,2691,87322,171
Net cash provided by financing activities13,2691,87377,171
Increase (decrease) in cash11,301(5,232)12,719
Cash - beginning of period1,41814,429 
Cash - end of period12,7199,19712,719
Supplemental cash flow disclosures   
Interest paid   
Income tax paid   
XML 19 R7.htm IDEA: XBRL DOCUMENT v2.3.0.15
Going Concern
3 Months Ended
Oct. 31, 2011
Organization, Consolidation and Presentation of Financial Statements 
Going Concern Note

Note 2. Going Concern



The accompanying financial statements have been prepared on the basis of accounting principles applicable to a going concern; accordingly, they do not give effect to adjustment that would be necessary should the Company be unable to continue as a going concern and therefore be required to realize its assets and retire its liabilities in other than the normal course of business and at amounts different from those in the accompanying financial statements. Management plans to raise cash from public or private debt or equity financing on an as needed basis and in the longer term, to generate revenues from the acquisition, exploration and development of mineral interests, if found. The Company's ability to continue as a going concern is dependent upon achieving profitable operations and/or upon obtaining additional financing. The outcome of these matters cannot be predicted at this time.

 

XML 20 R2.htm IDEA: XBRL DOCUMENT v2.3.0.15
CONSOLIDATED BALANCE SHEETS (USD $)
Oct. 31, 2011
Jul. 31, 2011
Current assets  
Cash$ 12,719$ 1,418
Total current assets12,7191,481
Total assets12,7191,418
Current liabilities  
Accounts payables and accrued liabilities5,325 
Related party advances payable22,1718,902
Total current liabilities27,4968,902
Total liabilities27,4968,902
STOCKHOLDERS' EQUITY (DEFICIT)  
Preferred stock: $0.001 par value, 100,000,000 authorized, 0 issued and outstanding  
Common shares: $0.001 par value, 100,000,000 authorized, 8,000,000 issued and outstanding as of October 31, 2011 and July 31, 20118,0008,000
Additional paid-in capital47,00047,000
Deficit accumulated during the development stage(69,777)(62,484)
Total stockholders' equity (deficit)(14,777)(7,484)
Total liabilities and stockholders' equity (deficit)$ 12,719$ 1,418[1]
[1]The numbers in this column, for the year ended July 31, 2011, are derived from audited financials.
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