0001014897-12-000164.txt : 20120621 0001014897-12-000164.hdr.sgml : 20120621 20120621131511 ACCESSION NUMBER: 0001014897-12-000164 CONFORMED SUBMISSION TYPE: 10-Q/A PUBLIC DOCUMENT COUNT: 9 CONFORMED PERIOD OF REPORT: 20120430 FILED AS OF DATE: 20120621 DATE AS OF CHANGE: 20120621 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Pinacle Enterprise, Inc. CENTRAL INDEX KEY: 0001522165 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-ENGINEERING, ACCOUNTING, RESEARCH, MANAGEMENT [8700] IRS NUMBER: 000000000 STATE OF INCORPORATION: 2M FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 10-Q/A SEC ACT: 1934 Act SEC FILE NUMBER: 333-175044 FILM NUMBER: 12919076 BUSINESS ADDRESS: STREET 1: CTUNNERSDORFER STR. 28 CITY: LEIPZIG STATE: 2M ZIP: 04318 BUSINESS PHONE: 443-620-0081 MAIL ADDRESS: STREET 1: CTUNNERSDORFER STR. 28 CITY: LEIPZIG STATE: 2M ZIP: 04318 10-Q/A 1 pinacle10q1q12am1.htm AMENDMENT 1 TO FORM 10-Q Pinacle Form 10-Q


U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Amendment 1 to

Form 10-Q


Mark One

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


For the quarterly period ended April 30, 2012


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


For the transition period from ______ to _______


Commission File No. 333-175044



PINACLE ENTERPRISE INC.
(Exact name of registrant as specified in its charter)


Nevada

(State or Other Jurisdiction of Incorporation or Organization)

8700

(Primary Standard Industrial Classification Number)

EIN 98-0661455

 (IRS Employer

Identification Number)



 Ctunnersdorfer str. 28

Leipzig, 04318

 Germany

(341) 2197-9139

 (Address and telephone number of principal executive offices)


Indicate by checkmark whether the issuer: (1) has 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 filed, 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 checkmark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [  ]  No [ X ]


Applicable Only to Issuer Involved in Bankruptcy Proceedings During the Preceding Five Years.

N/A


Indicate by checkmark whether the issuer has filed all documents and reports required to be filed by Section 12, 13 and 15(d) of the Securities Exchange Act of 1934 after the distribution of securities under a plan confirmed by a court.  Yes[   ]  No[   ]


Applicable Only to Corporate Registrants

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the most practicable date:

Class

Outstanding as of April 30, 2012

Common Stock, $0.001

5,300,000


Explanatory Note


This Amendment 1 to our Quarterly Report on Form 10-Q for the three months ended April 30, 2012, as filed with the SEC on June 19, 2012, is being filed to correct the exhibits page and to attach the interactive data to the filing.


No other change have been made to the Form 10-Q.  This Amendment 1 to the Form 10-Q speaks as of the original filing date of the Form 10-Q, does not reflect events that may have occurred subsequent to the original filing date, and does not modify or update in any way disclosures made in the original Form 10-Q.


2







PART 1

FINANCIAL INFORMATION

 

Item 1.

Financial Statements (Unaudited)

4

 

   Balance Sheets

4

 

   Statements of Operations

5

 

   Statements of Cash Flows

6

 

   Notes to Financial Statements

7

Item 2.   

Management’s Discussion and Analysis of Financial Condition and Results of Operations

12

Item 3.   

Quantitative and Qualitative Disclosures About Market Risk

17

Item 4.

Controls and Procedures

17

PART II.

OTHER INFORMATION

 

Item 1.

Legal Proceedings

18

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

18

Item 3.

Defaults Upon Senior Securities

18

Item 4.

Mine Safety Disclosures

18

Item 5.

Other Information

18

Item 6.

Exhibits

18

 

Signatures

19


3





PINACLE ENTERPRISE INC.

(A DEVELOPMENT STAGE COMPANY)

BALANCE SHEETS (unaudited)

AS OF APRIL 30, 2012 AND JANUARY 31, 2012



ASSETS

April 30, 2012

January 31, 2012

Current Assets

 

 

Cash and cash equivalents

$

4,238 

$

14,246 

 

 

 

Property and equipment, net

768 

866 

 

 

 

Total Assets

$

5,006 

$

15,112 

 

 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

Liabilities

 

 

Current Liabilities

 

 

Accrued expenses

$

950 

$

4,500 

Loan from shareholder

25 

25 

 

 

 

Total Liabilities

975 

4,525 

 

 

 

Stockholders’ Equity

 

 

Common stock, par value $0.001; 75,000,000 shares authorized, 5,300,000 shares issued and outstanding

5,300 

5,300 

Additional paid in capital

19,700 

19,700 

Deficit accumulated during the development stage

(20,969)

(14,413)

Total Stockholders’ Equity

4,031 

10,587 

 

 

 

Total Liabilities and Stockholders’ Equity

$

5,006 

$

15,112 


















The accompanying notes are an integral part of these financial statements


4





PINACLE ENTERPRISE INC.

(A DEVELOPMENT STAGE COMPANY)

STATEMENTS OF OPERATIONS (unaudited)

THREE MONTHS ENDED APRIL 30, 2012 AND 2011

FOR THE PERIOD FROM APRIL 19, 2010 (INCEPTION) TO APRIL 30, 2012



 

Three Months Ended April 30, 2012

Three Months Ended April 30, 2011

Period From April 19, 2010 (Inception) to April 30, 2012

 

 

 

 

REVENUES

$

$

$

1,000 

 

 

 

 

OPERATING EXPENSES

 

 

 

Professional fees

5,950 

4,180 

19,900 

Bank fees

45 

34 

319 

Advertising

15 

15 

90 

Amortization

98 

412 

Website

500 

500 

General and administrative expenses

448 

294 

748 

TOTAL OPERATING EXPENSES

6,556 

5,023 

21,969 

 

 

 

 

LOSS FROM OPERATIONS

(6,556)

(5,023)

(20,969)

 

 

 

 

PROVISION FOR INCOME TAXES

 

 

 

 

NET LOSS

$

(6,556)

$

(5,023)

$

(20,969)

 

 

 

 

NET LOSS PER SHARE: BASIC AND DILUTED

$

(0.00)

$

(0.00)

 

 

 

 

 

WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED

5,300,000 

5,300,000 

 














The accompanying notes are an integral part of these financial statements.

 

5





PINACLE ENTERPRISE INC.

(A DEVELOPMENT STAGE COMPANY)

STATEMENTS OF CASH FLOWS (unaudited)

THREE MONTHS ENDED APRIL 30, 2012 AND 2011

FOR THE PERIOD FROM APRIL 19, 2010 (INCEPTION) TO APRIL 30, 2012



 

Three Months  Ended April 30, 2012

Three Months Ended April 30, 2011

Period From April 19, 2010 (Inception) to April 30, 2012

CASH FLOWS FROM OPERATING ACTIVITIES

 

 

 

Net loss for the period

$

(6,556)

$

(5,023)

$

(20,969)

Adjustments to reconcile net loss to net cash (used in) operating activities:

 

 

 

Amortization

98 

412 

Changes in assets and liabilities:

 

 

 

Increase (decrease) in accrued expenses

(3,550)

950 

Net Cash Used in Operating Activities

(10,008)

(5,023)

(19,607)

 

 

 

 

CASH FLOWS FROM INVESTING ACTIVITIES

 

 

 

Purchase of property and equipment

(1,180)

Net Cash Used in Investing Activities

(1,180)

 

 

 

 

CASH FLOWS FROM FINANCING ACTIVITIES  

 

 

 

Proceeds from sale of common stock

25,000 

Loans from shareholder

25 

Net Cash Provided by Financing Activities

25,025 

 

 

 

 

Net Increase (Decrease) in Cash

(10,008)

(5,023)

4,238 

Cash, beginning of period

14,246 

21,029 

Cash, end of period

$

4,238 

$

16,006 

$

4,238 

 

 

 

 

SUPPLEMENTAL CASH FLOW INFORMATION:

 

 

 

Interest paid

$

$

 

Income taxes paid

$

$

 






 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The accompanying notes are an integral part of these financial statements.



6





PINACLE ENTERPRISE INC.

(A DEVELOPMENT STAGE COMPANY)

NOTES TO THE FINANCIAL STATEMENTS

APRIL 30, 2012


NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS


Pinacle Enterprise Inc. (the "Company" or “Pinacle”) was incorporated under the laws of the State of Nevada on April 19, 2010.  The Company plans to specialize in architectural design, architectural animation, 3D modeling as well as CAD drafting and conversion services.

  

NOTE 2 – SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES


Development Stage Company

The accompanying financial statements have been prepared in accordance with generally accepted accounting principles related to development stage companies. A development-stage company is one in which planned principal operations have not commenced or if its operations have commenced, there has been no significant revenues there from.

Basis of Presentation

The financial statements of the Company have been prepared using the accrual basis of accounting and in accordance with generally accepted accounting principles in the United States of America, and are presented in US dollars.  The Company has adopted a January 31 fiscal year end.


Cash and Cash Equivalents

The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company had $4,238 and $14,246 of cash as of April 30, 2012 and January 31, 2012, respectively.


Property and Equipment

The capital assets are being depreciated over their estimated useful lives using the straight line method of depreciation for book purposes.


Fair Value of Financial Instruments

The Company’s financial instruments consist of cash and cash equivalents, property and equipment, accrued expenses and amounts due to a shareholder. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements.


Income Taxes

Income taxes are computed using the asset and liability method.  Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws.  A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.


7






PINACLE ENTERPRISE INC.

(A DEVELOPMENT STAGE COMPANY)

NOTES TO THE FINANCIAL STATEMENTS

APRIL 30, 2012


Use of Estimates

The preparation of 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 the financial statements and the reported amount of revenues and expenses during the reporting period.  Actual results could differ from those estimates.


Revenue Recognition

The Company recognizes revenue when products are fully delivered or services have been provided and collection is reasonably assured.


Stock-Based Compensation

Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718.  To date, the Company has not adopted a stock option plan and has not granted any stock options.


Basic Income (Loss) Per Share

Basic income (loss) per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company’s net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are no such common stock equivalents outstanding as of April 30, 2012.


Comprehensive Income

The Company has which established standards for reporting and display of comprehensive income, its components and accumulated balances.  When applicable, the Company would disclose this information on its Statement of Stockholders’ Equity.  Comprehensive income comprises equity except those resulting from investments by owners and distributions to owners. The Company has not had any significant transactions that are required to be reported in other comprehensive income.


Recent Accounting Pronouncements

Pinacle does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flow.


NOTE 3 – PROPERTY AND EQUIPMENT


Property and equipment is recorded at cost and consisted of the following at April 30, 2012 and January 31, 2012:



8





PINACLE ENTERPRISE INC.

(A DEVELOPMENT STAGE COMPANY)

NOTES TO THE FINANCIAL STATEMENTS

APRIL 30, 2012


 

April 30, 2012

January 31, 2012

Computer software

$      1,180

$      1,180

Less: Accumulated depreciation

(412)

(314)

    Property and equipment, net

$         768

$         866


The Company estimated the estimated useful life of the software to be three years.


Depreciation expense was $98 and $0 for the three months ended April 30, 2012 and 2011.


NOTE 4 – ACCRUED EXPENSES


Accrued expenses at April 30, 2012 consisted of $950 owed to the Company’s outside independent auditors for services rendered for the quarter ended April 30, 2012.  Accrued expenses at January 31, 2012 consisted of $4000 owed to the Company’s outside independent auditors for services rendered for the year ended January 31, 2012 and $500 due to a vendor for website design.


NOTE 5 – LOAN FROM SHAREHOLDER


On May 20, 2010, a shareholder loaned $25 to the Company to open the bank account.  The loan is unsecured, non-interest bearing and due on demand. The balance due to the shareholder was $25 as of April 30, 2012 and January 31, 2012.


NOTE 6 – COMMON STOCK


The Company has 75,000,000, $0.001 par value shares of common stock authorized.


On July 2, 2010, the Company issued 4,000,000 shares of common stock for cash proceeds of $4,000 at $0.001 per share.


On July 9, 2010, the Company issued 500,000 shares of common stock for cash proceeds of $5,000 at $0.01 per share.


On August 11, 2010, the Company issued 800,000 shares of common stock for cash proceeds of $16,000 at $0.02 per share.


There were no additional stock issuances during the period ended April 30, 2012.


There were 5,300,000 shares of common stock issued and outstanding as of April 30, 2012 and January 31, 2012.


NOTE 7 – INCOME TAXES


As of April 30, 2012, the Company had net operating loss carry forwards of approximately $21,000 that may be available to reduce future years’ taxable income in varying amounts through 2032.

9






PINACLE ENTERPRISE INC.

 (A DEVELOPMENT STAGE COMPANY)

NOTES TO THE FINANCIAL STATEMENTS

APRIL 30, 2012


 Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards.


The provision for Federal income tax consists of the following:


 

April 30, 2012

April 30, 2011

Federal income tax benefit attributable to:

 

 

Current operations

$

2,229 

$

1,708 

Less: valuation allowance

(2,229)

(1,708)


Net provision for Federal income taxes

$

$


The cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows:



 

April 30, 2012

January 31, 2012

Deferred tax asset attributable to:

 

 

Net operating loss carryover

$

7,131 

$

4,902 

Less: valuation allowance

(7,131)

(4,902)

Net deferred tax asset

$

$


Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of approximately $21,000 for Federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur net operating loss carry forwards may be limited as to use in future years.


NOTE 8 – COMMITMENTS AND CONTINGENCIES


The Company neither owns nor leases any real or personal property. An officer has provided office services without charge.  There is no obligation for the officer to continue this arrangement.  Such costs are immaterial to the financial statements and accordingly are not reflected herein.  The officers and directors are involved in other business activities and most likely will become involved in other business activities in the future.



10






PINACLE ENTERPRISE INC.

 (A DEVELOPMENT STAGE COMPANY)

NOTES TO THE FINANCIAL STATEMENTS

APRIL 30, 2012


NOTE 9 – GOING CONCERN


The accompanying financial statements have been prepared in conformity with generally accepted accounting principle, which contemplate continuation of the Company as a going concern.  However, the Company had limited revenues as of April 30, 2012.  The Company currently has limited working capital, and has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time.  


Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses The Company intends to position itself so that it

may be able to raise additional funds through the capital markets. In light of management’s efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern.


NOTE 10 – SUBSEQUENT EVENTS


In accordance with ASC 855-10, the Company has analyzed its operations subsequent to April 30, 2012 to the date these financial statements were issued, and has determined that it does not have any material subsequent events to disclose in these financial statements.


11





FORWARD LOOKING STATEMENTS


Statements made in this Form 10-Q that are not historical or current facts are "forward-looking statements" made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 (the "Act") and Section 21E of the Securities Exchange Act of 1934. These statements often can be identified by the use of terms such as "may," "will," "expect," "believe," "anticipate," "estimate," "approximate" or "continue," or the negative thereof. We intend that such forward-looking statements be subject to the safe harbors for such statements. We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management's best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events.


ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION


GENERAL


We were incorporated in the State of Nevada on April 19, 2010.  The registrant intends to specialize in architectural design, architectural animation, 3D modeling as well as Computer-Aided Design (CAD) drafting and conversion services.

Architectural Design:


The registrant will provide architectural design services like building and structural design, exterior and interior 3D rendering, architectural drafting, architectural drawing, architectural lighting, plans, cost estimation, layering and 3D modeling.

We will offer architectural layout and landscaping CAD drawings:  

  -  Architectural floor plan CAD drawings  

  -  Space plan CAD drawings

  -  Furniture CAD drawings

  -  Reflected ceiling plans/CAD drawings

  -  Interior designing and planning/ CAD drawings


Architectural Animation Services:

The registrant will offer 3D walkthrough as a marketing tool transforming imaginative ideas and concepts into photorealistic 3D rendered architectural walkthrough.  With 3D Walkthroughs any specific viewpoint can be viewed from any angle or height giving a real photorealistic feeling.


Some of the advantages of virtual 3D Walkthroughs are:  

  - Actual structure, architecture and building materials can be

    shown.

  - External/Internal lighting such as natural lighting, based upon

    window direction, time of year and time of day can be previewed.

  - 3D Architectural animation will include exterior features such as

    landscaping, trees, hedges, fences.

  - View can be previewed.


12





  - Multiple design options can be explored and resolved before

    building begins.


3D Modeling Service:

We will provide 3D Modeling services to our clients so they will be able to view their upcoming building, house, room in advance in 3D Modeling and 3D Animation to give views from different angles and perspectives.  Our clients can send us the required documents of either hand-drawn sketches or design concept drawing and we will create highly effective 3D Modeling.  In addition we can shape, texture and customize stereoscopic 3D animated 3D models.


CAD Drafting Services:

      We will use computer aided design o design, develop and optimize drawings to make a clean and clear computer generated construction drawing, accurately drafted as per specified dimensions.  The registrant can generate CAD drawings from any format such as hand-drawn documents, tiff files or any other image files and convert it to a .dwg file using AutoCAD.  Our CAD services will include Architectural CAD drafting and detailing for construction projects including general layout, plan, elevation and sections.


CLIENTS


Our clients will include:

- Independent building contractors

 - Developers and builders

 - Private individuals

 - Other architectural and engineering firms


REFERRAL AGREEMENT


The registrant has signed a Referral Agreement with Vitaliy Akimov on March 25, 2011. Mr. Akimov will refer potential customers to the Company for a referral fee.  Duration of the agreement is until written 10 day notice of termination is given by either party.


ARCHITECTURAL INTERIOR/EXTERIOR RENDERING CONTRACT


The company has executed the agreement on December 5, 2011 with Miguel Angel Molina Urra, under the terms of which we will draft, draw, and design his private home.

The following are the material terms of the agreement:


1.  Design Project.

Pinacle Enterprise, Inc. will generate photo realistic architectural exterior and interior 3D renderings of the private home.  The rendering will contain geometry, viewpoint, texture and lighting information.  The client is required to provide input, information and materials such as description, visuals, photographs, sketches and descriptions of the internal environment to be, the lighting layout or/and the furniture placement in the internal spaces.


2.  Copyrights and Trademarks.

The Client unconditionally guarantees that any elements of text, graphics, photos, designs, trademarks, or other artwork furnished to Pinacle Enterprise, Inc. for inclusion in the Design Project are owned by the Client, or that the Client has permission from the


13





rightful owner to use each of these elements, and will hold harmless, protect, indemnify and defend Pinacle Enterprise, Inc. and its subcontractors from any liability (including attorney’s fees and court costs), including any claim or suit, threatened or actual, arising from the use of such elements furnished by the Client.


3.  Completion Date.

Pinacle Enterprise, Inc. and the Client must work together to complete the Design Project in a timely manner.  We agree to work expeditiously to complete the Design Profect no later than 45 days after Client has submitted all necessary materials.  If the Client does not supply Pinacle Enterprise, Inc. with complete text and graphics content for this Design Project within 45 days of the effective date of this agreement, the entire deposit amount of the agreement shall be retained by Pinacle Enterprise, Inc. as liquidated damages and the contract shall become null and void, at Pinacle Enterprise, Inc’s option, unless the Design Project is canceled in writing by the Client prior to 45 days before the effective date of the agreement.


4.  Payments.

Payments must be made promptly based on the terms of this Design Project.  All payments are to be made within 15 days after completion and approval of the Design Project by the Client.  In case collection proves necessary, the Client agrees to pay all fees (including all attorney’s fees and court costs) incurred by that process.  This agreement becomes effective only when signed by Pinacle Enterprise, Inc.


5.  Payment Schedule.

Payment for services provided hereby shall be made in accordance with the conditions contained in this contract and the Package Price, attached hereto and made a part of this agreement hereof.  


Notwithstanding any prices listed in literature or on Web pages, the Client and Pinacle Enterprise, Inc. agree that the services described in this contract shall be completed for $3,000.  The Client agrees to pay to Pinacle Enterprise, Inc. an initial, non-refundable deposit of $1,000 15 days after the execution of this agreement.  Final payment is due within 15 days after publication and/or delivery of the Design Project.  All amounts must be in U.S. Dollars.


6.  This Agreement.

This agreement constitutes the sole agreement between Pinacle Enterprise, Inc. and the Client regarding this Design Project.  Any additional work not specified in this contract or any other amendment or modification to this contract must be authorized by a written request signed by both Client and Pinacle Enterprise, Inc.  All prices specified in this contract will be honored for 6 months after both parties sign this contract.  Continued services after that time will require a new agreement.


14





EMPLOYEES AND EMPLOYMENT AGREEMENTS


At present, we have no employees other than our officer and director.  We presently do not have pension, health, annuity, insurance, stock options, profit sharing or similar benefit plans; however, we may adopt such plans in the future.  There are presently no personal benefits available to any officers, directors or employees.



Results of Operations


Our financial statements have been prepared assuming that we will continue as a going concern and, accordingly, do not include adjustments relating to the recoverability and realization of assets and classification of liabilities that might be necessary should we be unable to continue in operation.


We expect we will require additional capital to meet our long term operating requirements. We expect to raise additional capital through, among other things, the sale of equity or debt securities.


Three Months Period Ended April 30, 2012


Our net loss for the three months period ended April 30, 2012 was $6,556.  During the three months periods ended April 30, 2012 we have not generated any revenue.


During the three month period ended April 30, 2012, our operating expenses were general and administrative expenses $448, professional fees of $5,950 and bank fees $45, advertising was $15 and amortization was $98. The weighted average number of shares outstanding was 5,300,000 for the three months period ended April 30, 2012.


Liquidity and Capital Resources


Three Months Period Ended April 30, 2012  


As at April 30, 2012, our total assets were $5,006 compared to $15,112 in total assets at January 31, 2012. Total assets were comprised primarily of $4,238 and $14,246 in cash at April 30, 2012 and January 31, 2012, respectively. Our current liabilities were $975 and $$4,525 at April 30, 2012 and January 31, 2012, respectively.

 

Stockholders’ equity was $4,031 as of April 30, 2012 compared to stockholders' equity of $10,587 as of January 31, 2012.   


Cash Flows from Operating Activities


We have not generated positive cash flows from operating activities. For the three months period ended April 30, 2012, net cash flows used in operating activities was $(10,008). For the period from inception (June 6, 2011) to April 30, 2012, net cash from operating activities was $(19,607).


15





Cash Flows from Investing Activities


For the three month period ended April 30, 2012, the Company did not generated any cash flow.


Cash Flows from Financing Activities


We have financed our operations primarily from either advancements or the issuance of equity. For the three month period ended April 30, 2012, net cash provided by financing activities was $0. For the period from inception (June 6, 2011) to April 30, 2012, net cash provided by financing activities was primarily from $25,025 received from proceeds from issuance of common stock.


Plan of Operation and Funding


We expect that working capital requirements will continue to be funded through a combination of our existing funds and further issuances of securities. Our working capital requirements are expected to increase in line with the growth of our business.


Existing working capital, further advances and debt instruments, and anticipated cash flow are expected to be adequate to fund our operations over the next three months. We have no lines of credit or other bank financing arrangements. Generally, we have financed operations to date through the proceeds of the private placement of equity and debt instruments. In connection with our business plan, management anticipates additional increases in operating expenses and capital expenditures relating to: (i) acquisition of inventory; (ii) developmental expenses associated with a start-up business; and (iii) marketing expenses. We intend to finance these expenses with further issuances of securities, and debt issuances. Thereafter, we expect we will need to raise additional capital and generate revenues to meet long-term operating requirements. Additional issuances of equity or convertible debt securities will result in dilution to our current shareholders. Further, such securities might have rights, preferences or privileges senior to our common stock. Additional financing may not be available upon acceptable terms, or at all.


If adequate funds are not available or are not available on acceptable terms, we may not be able to take advantage of prospective new business endeavors or opportunities, which could significantly and materially restrict our business operations. We will have to raise additional funds in the next twelve months in order to sustain and expand our operations. We currently do not have a specific plan of how we will obtain such funding; however, we anticipate that additional funding will be in the form of equity financing from the sale of our common stock. We have and will continue to seek to obtain short-term loans from our directors, although no future arrangement for additional loans has been made. We do not have any agreements with our directors concerning these loans. We do not have any arrangements in place for any future equity financing.


Off-Balance Sheet Arrangements


As of the date of this Quarterly Report, we do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.


16





Going Concern


The independent auditors' review report accompanying our April 30, 2012 financial statements contained an explanatory paragraph expressing substantial doubt about our ability to continue as a going concern. The financial statements have been prepared "assuming that we will continue as a going concern," which contemplates that we will realize our assets and satisfy our liabilities and commitments in the ordinary course of business.


ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.


No report required.



ITEM 4. CONTROLS AND PROCEDURES


Our management is responsible for establishing and maintaining a system of disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act) that is designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer’s management, including its principal executive officer or officers and principal financial officer or officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.


An evaluation was conducted under the supervision and with the participation of our management of the effectiveness of the design and operation of our disclosure controls and procedures as of April 30, 2012. Based on that evaluation, our management concluded that our disclosure controls and procedures were not effective as of such date to ensure that information required to be disclosed in the reports that we file or submit under the Exchange Act, is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms. Such officer also confirmed that there was no change in our internal control over financial reporting during the three-month period ended April 30, 2012 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.


17







PART II. OTHER INFORMATION



Item 1.   Legal Proceedings  

          Management is not aware of any legal proceedings contemplated by any governmental authority or any other party involving us or our properties. As of the date of this Quarterly Report, no director, officer or affiliate is (i) a party adverse to us in any legal proceeding, or (ii) has an adverse interest to us in any legal proceedings. Management is not aware of any other legal proceedings pending or that have been threatened against us or our properties.


Item 1A.  Risk Factors

          Not applicable for smaller reporting company.


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


Exhibit 31* - Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

Exhibit 32* - Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

101.INS**   XBRL Instance Document

101.SCH**   XBRL Taxonomy Extension Schema Document

101.CAL**   XBRL Taxonomy Extension Calculation Linkbase Document

101.DEF**   XBRL Taxonomy Extension Definition Linkbase Document

101.LAB**   XBRL Taxonomy Extension Label Linkbase Document

101.PRE**   XBRL Taxonomy Extension Presentation Linkbase Document

*  Filed herewith

**XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.



18






SIGNATURES


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


 

Pinacle Enterprise Inc.

Dated: June 21, 2012

By: /s/ Mikhail Kats

 

Mikhail Kats, President and Chief Executive Officer and Chief Financial Officer














19





EX-31 2 pinacle10q1q12ex31.htm EXHIBIT 31 302 CERTIFICATION

302 CERTIFICATION


I, Mikhail Kats, certify that:


         1. I have reviewed this quarterly report on Form 10-Q of Pinacle Enterprise 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 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 my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to me 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 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 fourth 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 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 21, 2012

/s/Mikhail Kats

Mikhail Kats

Chief Executive Officer

Chief Financial Officer




EX-32 3 pinacle10q1q12ex32.htm EXHIBIT 32 906 Certification

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002


The undersigned officer of Pinacle Enterprise Inc. (the "Company"), hereby certifies, to such officer's knowledge, that the Company's Quarterly Report on Form 10-Q for the quarter ended April 30, 2012 (the "Report") fully complies with the requirements of Section 13(a) of the Securities Exchange Act of 1934 and that the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.


/s/Mikhail Kats

Mikhail Kats

Chief Executive Officer

Chief Financial Officer


June 21, 2012





EX-101.INS 4 pncl-20120430.xml XBRL INSTANCE DOCUMENT 10-Q 2012-04-30 false Pinacle Enterprise, Inc. 0001522165 --12-31 Smaller Reporting Company Yes Yes No 2012 Q1 4238 14246 768 866 5006 15112 950 4500 25 975 4525 5300 5300 19700 19700 -20969 -14413 4031 10587 5006 15112 0 0 1000 5950 4180 19900 45 34 319 15 15 90 0 500 500 448 294 748 6556 5023 21969 -6556 -5023 -20969 0 0 0 0.00 0.00 5300000 5300000 -6556 -5023 -20969 98 0 412 -3550 0 950 -10008 -5023 -19607 0 -1180 0 0 -1180 0 0 25000 0 25 0 0 25025 -10008 -5023 4238 14246 21029 0 4238 16006 4238 0 0 0 0 <!--egx--><p style="MARGIN:0in 0.8in 0pt 0in"><b>NOTE 1 &#150; ORGANIZATION AND NATURE OF BUSINESS</b></p> <p style="MARGIN:0in 0.8in 0pt 0in">&nbsp;</p> <p style="MARGIN:0in 0.8in 0pt 0in">Pinacle Enterprise Inc. (the "Company" or &#147;Pinacle&#148;) was incorporated under the laws of the State of Nevada on April 19, 2010.&nbsp; <font style="BACKGROUND:white">The Company plans to specialize in architectural design, architectural animation, 3D modeling as well as CAD drafting and conversion services.</font></p> <!--egx--><p style="MARGIN:0in 52.45pt 0pt 0in"><b>NOTE 2 &#150; SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</b></p> <p style="MARGIN:0in 52.45pt 0pt 0in"><u><font style="LINE-HEIGHT:115%"><font style="TEXT-DECORATION:none">&nbsp;</font></font></u></p> <p style="MARGIN:0in 52.45pt 0pt 0in"><u><font style="LINE-HEIGHT:115%">Development Stage Company</font></u></p> <p style="MARGIN:0in 52.45pt 0pt 0in"><font style="LINE-HEIGHT:115%">The accompanying financial statements have been prepared in accordance with generally accepted accounting principles related to development stage companies. A development-stage company is one in which planned principal operations have not commenced or if its operations have commenced, there has been no significant revenues there from.</font></p> <p style="MARGIN:0in 52.45pt 0pt 0in"><u>Basis of Presentation</u><u><font style="LINE-HEIGHT:115%"></font></u></p> <p style="MARGIN:0in 52.45pt 0pt 0in">The financial statements of the Company have been prepared using the accrual basis of accounting and in accordance with generally accepted accounting principles in the United States of America, and are presented in US dollars.&nbsp; The Company has adopted a January 31 fiscal year end.</p> <p style="MARGIN:0in 52.45pt 0pt 0in; TEXT-AUTOSPACE:"><u><font style="LETTER-SPACING:-0.1pt"><font style="TEXT-DECORATION:none">&nbsp;</font></font></u></p> <p style="MARGIN:0in 52.45pt 0pt 0in; TEXT-AUTOSPACE:"><u><font style="LETTER-SPACING:-0.1pt">Cash</font></u><u> and Cash <font style="LETTER-SPACING:-0.15pt">E</font>q<font style="LETTER-SPACING:-0.1pt">ui</font><font style="LETTER-SPACING:-0.15pt">v</font>a<font style="LETTER-SPACING:-0.1pt">lents</font></u></p> <p style="MARGIN:0in 52.45pt 0pt 0in; tab-stops:.25in 27.0pt 3.5in right 5.5in 6.0in 6.5in"><font style="LETTER-SPACING:-0.1pt">T</font>h<font style="LETTER-SPACING:-0.1pt">e</font><font style="LETTER-SPACING:0.15pt"> </font><font style="LETTER-SPACING:-0.1pt">C</font>o<font style="LETTER-SPACING:-0.2pt">m</font>p<font style="LETTER-SPACING:-0.1pt">a</font>ny<font style="LETTER-SPACING:0.1pt"> </font><font style="LETTER-SPACING:-0.1pt">c</font>o<font style="LETTER-SPACING:-0.1pt">nsi</font>d<font style="LETTER-SPACING:-0.1pt">ers</font><font style="LETTER-SPACING:0.15pt"> </font><font style="LETTER-SPACING:-0.1pt">all</font><font style="LETTER-SPACING:0.15pt"> </font>h<font style="LETTER-SPACING:-0.1pt">i</font>gh<font style="LETTER-SPACING:-0.1pt">ly</font><font style="LETTER-SPACING:0.15pt"> </font><font style="LETTER-SPACING:-0.1pt">li</font>qu<font style="LETTER-SPACING:-0.15pt">i</font>d<font style="LETTER-SPACING:0.15pt"> </font><font style="LETTER-SPACING:-0.1pt">inves</font>t<font style="LETTER-SPACING:-0.2pt">m</font><font style="LETTER-SPACING:-0.1pt">e</font>n<font style="LETTER-SPACING:-0.1pt">ts</font><font style="LETTER-SPACING:0.15pt"> </font><font style="LETTER-SPACING:-0.1pt">wit</font>h<font style="LETTER-SPACING:0.15pt"> </font><font style="LETTER-SPACING:-0.1pt">t</font>h<font style="LETTER-SPACING:-0.1pt">e</font><font style="LETTER-SPACING:0.15pt"> </font><font style="LETTER-SPACING:-0.1pt">ori</font>g<font style="LETTER-SPACING:-0.15pt">i</font>n<font style="LETTER-SPACING:-0.1pt">a</font>l<font style="LETTER-SPACING:0.15pt"> </font><font style="LETTER-SPACING:-0.2pt">m</font>atu<font style="LETTER-SPACING:-0.1pt">ritie</font>s<font style="LETTER-SPACING:0.15pt"> </font><font style="LETTER-SPACING:-0.1pt">o</font>f<font style="LETTER-SPACING:0.15pt"> </font><font style="LETTER-SPACING:-0.1pt">thre</font>e<font style="LETTER-SPACING:0.1pt"> </font><font style="LETTER-SPACING:-0.2pt">m</font>on<font style="LETTER-SPACING:-0.1pt">t</font>hs<font style="LETTER-SPACING:0.2pt"> </font>or<font style="LETTER-SPACING:0.2pt"> </font><font style="LETTER-SPACING:-0.1pt">les</font>s<font style="LETTER-SPACING:0.1pt"> </font><font style="LETTER-SPACING:-0.1pt">to </font>be ca<font style="LETTER-SPACING:-0.15pt">s</font>h <font style="LETTER-SPACING:-0.15pt">e</font><font style="LETTER-SPACING:-0.1pt">q</font>u<font style="LETTER-SPACING:-0.1pt">i</font>v<font style="LETTER-SPACING:-0.15pt">a</font><font style="LETTER-SPACING:-0.1pt">le</font>n<font style="LETTER-SPACING:-0.1pt">t</font>s. The Company had $4,238 and $14,246 of cash as of April 30, 2012 and January 31, 2012, respectively.<font style="LAYOUT-GRID-MODE:both"></font></p> <p style="MARGIN:0in 52.45pt 0pt 0in; tab-stops:.5in right 427.5pt 6.0in">&nbsp;</p> <p style="MARGIN:0in 52.45pt 0pt 0in; tab-stops:.5in right 427.5pt 6.0in"><u>Property and Equipment</u></p> <p style="MARGIN:0in 52.45pt 0pt 0in; tab-stops:.5in">The capital assets are being depreciated over their estimated useful lives using the straight line method of depreciation for book purposes.</p> <p style="MARGIN:0in 52.45pt 0pt 0in; tab-stops:.5in right 427.5pt 6.0in">&nbsp;</p> <p style="MARGIN:0in 52.45pt 0pt 0in"><u>Fair Value of Financial Instruments</u></p> <p style="MARGIN:0in 52.45pt 0pt 0in">The Company&#146;s financial instruments consist of cash and cash equivalents, property and equipment, accrued expenses and amounts due to a shareholder. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements.</p> <p style="MARGIN:0in 52.45pt 0pt 0in; tab-stops:.5in right 427.5pt 6.0in">&nbsp;</p> <p style="MARGIN:0in 52.45pt 0pt 0in"><u>Income Taxes</u></p> <p style="MARGIN:0in 52.45pt 0pt 0in">Income taxes are computed using the asset and liability method.&nbsp; Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws.&nbsp; A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.</p> <p style="MARGIN:0in 52.45pt 0pt 0in"><u><font style="LINE-HEIGHT:115%">Use of Estimates</font></u></p> <p style="MARGIN:0in 52.45pt 0pt 0in"><font style="LINE-HEIGHT:115%">The preparation of 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 the financial statements and the reported amount of revenues and expenses during the reporting period.&nbsp; Actual results could differ from those estimates.</font></p> <p style="MARGIN:0in 52.45pt 0pt 0in"><u><font style="TEXT-DECORATION:none">&nbsp;</font></u></p> <p style="MARGIN:0in 52.45pt 0pt 0in"><u>Revenue Recognition</u></p> <p style="MARGIN:0in 52.45pt 0pt 0in">The Company recognizes revenue when products are fully delivered or services have been provided and collection is reasonably assured.</p> <p style="MARGIN:0in 52.45pt 0pt 0in"><b>&nbsp;</b></p> <p style="MARGIN:0in 52.45pt 0pt 0in"><u>Stock-Based Compensation</u></p> <p style="MARGIN:0in 52.45pt 0pt 0in">Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718.&nbsp; To date, the Company has not adopted a stock option plan and has not granted any stock options.</p> <p style="MARGIN:0in 52.45pt 0pt 0in">&nbsp;</p> <p style="MARGIN:0in 52.45pt 0pt 0in"><u>Basic Income (Loss) Per Share</u></p> <p style="MARGIN:0in 52.45pt 0pt 0in">Basic income (loss) per share is calculated by dividing the Company&#146;s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company&#146;s net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are no such common stock equivalents outstanding as of April 30, 2012.</p> <p style="MARGIN:0in 52.45pt 0pt 0in">&nbsp;</p> <p style="MARGIN:0in 52.45pt 0pt 0in; tab-stops:.25in 27.0pt 3.5in right 5.5in 6.0in 6.5in"><u>Comprehensive Income</u></p> <p style="MARGIN:0in 52.45pt 0pt 0in; tab-stops:.25in 27.0pt 3.5in right 5.5in 6.0in 6.5in">The Company has which established standards for reporting and display of comprehensive income, its components and accumulated balances.&nbsp; When applicable, the Company would disclose this information on its Statement of Stockholders&#146; Equity.&nbsp; Comprehensive income comprises equity except those resulting from investments by owners and distributions to owners. The Company has not had any significant transactions that are required to be reported in other comprehensive income.</p> <p style="MARGIN:0in 52.45pt 0pt 0in">&nbsp;</p> <p style="MARGIN:0in 52.45pt 0pt 0in"><u><font style="LINE-HEIGHT:115%">Recent Accounting Pronouncements</font></u></p> <p style="MARGIN:0in 52.45pt 0pt 0in; tab-stops:103.5pt"><font style="LINE-HEIGHT:115%">Pinacle does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company&#146;s results of operations, financial position or cash flow.</font></p> <!--egx--><p style="MARGIN:0in 52.45pt 0pt 0in"><b>NOTE 3 &#150; PROPERTY AND EQUIPMENT</b></p> <p style="MARGIN:0in 52.45pt 0pt 0in">&nbsp;</p> <p style="MARGIN:0in 52.45pt 0pt 0in">Property and equipment is recorded at cost and consisted of the following at April 30, 2012 and January 31, 2012:</p> <p style="MARGIN:0in 52.45pt 0pt 0in">&nbsp;</p> <table width="409" style="BORDER-COLLAPSE:collapse" cellpadding="0" cellspacing="0"> <tr style="PAGE-BREAK-INSIDE:avoid; HEIGHT:4pt"> <td width="211" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:158.05pt; PADDING-RIGHT:5.4pt; HEIGHT:4pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="top"> <p style="MARGIN:0in 0in 0pt; tab-stops:103.5pt">&nbsp;</p></td> <td width="102" style="BORDER-BOTTOM:windowtext 1pt solid; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:76.85pt; PADDING-RIGHT:5.4pt; HEIGHT:4pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:center; MARGIN:0in 3.25pt 0pt 0in; tab-stops:right -5.4pt" align="center">April 30, 2012</p></td> <td width="96" style="BORDER-BOTTOM:windowtext 1pt solid; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:1in; PADDING-RIGHT:5.4pt; HEIGHT:4pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:center; MARGIN:0in 0.05pt 0pt 0in; tab-stops:right -5.4pt" align="center">January 31, 2012</p></td></tr> <tr style="PAGE-BREAK-INSIDE:avoid; HEIGHT:7.15pt"> <td width="211" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:158.05pt; PADDING-RIGHT:5.4pt; HEIGHT:7.15pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="MARGIN:0in 0in 0pt; tab-stops:103.5pt">Computer software</p></td> <td width="102" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:76.85pt; PADDING-RIGHT:5.4pt; HEIGHT:7.15pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:right; MARGIN:0in 3.25pt 0pt 0in; tab-stops:right -5.4pt" align="right">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,180</p></td> <td width="96" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:1in; PADDING-RIGHT:5.4pt; HEIGHT:7.15pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:right; MARGIN:0in 3.25pt 0pt 0in; tab-stops:right -5.4pt" align="right">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,180</p></td></tr> <tr style="PAGE-BREAK-INSIDE:avoid; HEIGHT:9.9pt"> <td width="211" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:158.05pt; PADDING-RIGHT:5.4pt; HEIGHT:9.9pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="MARGIN:0in 0in 0pt; tab-stops:103.5pt">Less: Accumulated depreciation</p></td> <td width="102" style="BORDER-BOTTOM:windowtext 1pt solid; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:76.85pt; PADDING-RIGHT:5.4pt; HEIGHT:9.9pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:right; MARGIN:0in 3.25pt 0pt 0in; tab-stops:right -5.4pt" align="right">(412)</p></td> <td width="96" style="BORDER-BOTTOM:windowtext 1pt solid; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:1in; PADDING-RIGHT:5.4pt; HEIGHT:9.9pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:right; MARGIN:0in 3.25pt 0pt 0in; tab-stops:right -5.4pt" align="right">(314)</p></td></tr> <tr style="PAGE-BREAK-INSIDE:avoid; HEIGHT:5.35pt"> <td width="211" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:158.05pt; PADDING-RIGHT:5.4pt; HEIGHT:5.35pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="MARGIN:0in 0in 0pt; tab-stops:103.5pt">&nbsp;&nbsp;&nbsp; Property and equipment, net</p></td> <td width="102" style="BORDER-BOTTOM:windowtext 1.5pt double; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:76.85pt; PADDING-RIGHT:5.4pt; HEIGHT:5.35pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:right; MARGIN:0in 3.25pt 0pt 0in; tab-stops:right -5.4pt" align="right">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 768</p></td> <td width="96" style="BORDER-BOTTOM:windowtext 1.5pt double; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:1in; PADDING-RIGHT:5.4pt; HEIGHT:5.35pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:right; MARGIN:0in 3.25pt 0pt 0in; tab-stops:right -5.4pt" align="right">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;866</p></td></tr></table> <p style="MARGIN:0in 0in 0pt">&nbsp;</p> <p style="MARGIN:0in 0in 0pt">The Company estimated the estimated useful life of the software to be three years.</p> <p style="MARGIN:0in 0in 0pt">&nbsp;</p> <p style="MARGIN:0in 0in 0pt">Depreciation expense was $98 and $0 for the three months ended April 30, 2012 and 2011</p> <!--egx--><p style="MARGIN:0in 52.45pt 0pt 0in"><b>NOTE 4 &#150; ACCRUED EXPENSES</b></p> <p style="MARGIN:0in 52.45pt 0pt 0in"><b>&nbsp;</b></p> <p style="MARGIN:0in 52.45pt 0pt 0in; tab-stops:.25in 27.0pt 3.5in right 5.5in 6.0in 6.5in">Accrued expenses at April 30, 2012 consisted of $950 owed to the Company&#146;s outside independent auditors for services rendered for the quarter ended April 30, 2012.&nbsp; Accrued expenses at January 31, 2012 consisted of $4000 owed to the Company&#146;s outside independent auditors for services rendered for the year ended January 31, 2012 and $500 due to a vendor for website design.</p> <!--egx--><p style="MARGIN:0in 52.45pt 0pt 0in"><b>NOTE 5 &#150; LOAN FROM SHAREHOLDER</b></p> <p style="MARGIN:0in 52.45pt 0pt 0in">&nbsp;</p> <p style="MARGIN:0in 52.45pt 0pt 0in">On May 20, 2010, a shareholder loaned $25 to the Company to open the bank account.&nbsp; The loan is unsecured, non-interest bearing and due on demand. The balance due to the shareholder was $25 as of April 30, 2012 and January 31, 2012.</p> <!--egx--><p style="MARGIN:0in 52.45pt 0pt 0in"><b>NOTE 6 &#150; COMMON STOCK</b></p> <p style="MARGIN:0in 52.45pt 0pt 0in">&nbsp;</p> <p style="MARGIN:0in 52.45pt 0pt 0in">The Company has 75,000,000, $0.001 par value shares of common stock authorized.</p> <p style="MARGIN:0in 52.45pt 0pt 0in">&nbsp;</p> <p style="MARGIN:0in 52.45pt 0pt 0in">On July 2, 2010, the Company issued 4,000,000 shares of common stock for cash proceeds of $4,000 at $0.001 per share.</p> <p style="MARGIN:0in 52.45pt 0pt 0in">&nbsp;</p> <p style="MARGIN:0in 52.45pt 0pt 0in">On July 9, 2010, the Company issued 500,000 shares of common stock for cash proceeds of $5,000 at $0.01 per share.</p> <p style="MARGIN:0in 52.45pt 0pt 0in">&nbsp;</p> <p style="MARGIN:0in 52.45pt 0pt 0in">On August 11, 2010, the Company issued 800,000 shares of common stock for cash proceeds of $16,000 at $0.02 per share.</p> <p style="MARGIN:0in 52.45pt 0pt 0in">&nbsp;</p> <p style="MARGIN:0in 52.45pt 0pt 0in">There were no additional stock issuances during the period ended April 30, 2012.</p> <p style="MARGIN:0in 52.45pt 0pt 0in">&nbsp;</p> <p style="MARGIN:0in 52.45pt 0pt 0in">There were 5,300,000 shares of common stock issued and outstanding as of April 30, 2012 and January 31, 2012.</p> <!--egx--><p style="MARGIN:0in 52.45pt 0pt 0in"><b>NOTE 7 &#150; INCOME TAXES</b></p> <p style="MARGIN:0in 52.45pt 0pt 0in"><b>&nbsp;</b></p> <p style="MARGIN:0in 52.45pt 0pt 0in">As of April 30, 2012, the Company had net operating loss carry forwards of approximately $21,000 that may be available to reduce future years&#146; taxable income in varying amounts through 2032.</p> <p style="MARGIN:0in 52.45pt 0pt 0in">&nbsp;Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards.</p> <p style="MARGIN:0in 52.45pt 0pt 0in; TEXT-AUTOSPACE:">&nbsp;</p> <p style="MARGIN:0in 52.45pt 0pt 0in; TEXT-AUTOSPACE:">The provision for Federal income tax consists of the following:</p> <p style="MARGIN:0in 52.45pt 0pt 0in; TEXT-AUTOSPACE:">&nbsp;</p> <table style="MARGIN:auto auto auto 5.4pt; BORDER-COLLAPSE:collapse" cellpadding="0" cellspacing="0"> <tr style="PAGE-BREAK-INSIDE:avoid"> <td width="268" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:201.1pt; PADDING-RIGHT:5.4pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="top"> <p style="MARGIN:0in 52.45pt 0pt 0in; TEXT-AUTOSPACE:">&nbsp;</p></td> <td width="140" style="BORDER-BOTTOM:windowtext 1pt solid; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:104.9pt; PADDING-RIGHT:5.4pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:center; MARGIN:0in 52.45pt 0pt 0in; TEXT-AUTOSPACE:; tab-stops:right 4.5in 405.0pt" align="center">April 30, 2012</p></td> <td width="182" style="BORDER-BOTTOM:windowtext 1pt solid; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:136.4pt; PADDING-RIGHT:5.4pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:center; MARGIN:0in 52.45pt 0pt 0in; TEXT-AUTOSPACE:; tab-stops:right 4.5in 405.0pt" align="center">April 30, 2011</p></td></tr> <tr style="PAGE-BREAK-INSIDE:avoid"> <td width="268" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:201.1pt; PADDING-RIGHT:5.4pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="MARGIN:0in 52.45pt 0pt 0in; TEXT-AUTOSPACE:">Federal income tax benefit attributable to:</p></td> <td width="140" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:104.9pt; PADDING-RIGHT:5.4pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:">&nbsp;</p></td> <td width="182" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:136.4pt; PADDING-RIGHT:5.4pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:">&nbsp;</p></td></tr> <tr style="PAGE-BREAK-INSIDE:avoid"> <td width="268" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:201.1pt; PADDING-RIGHT:5.4pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="MARGIN:0in 52.45pt 0pt 12.6pt; TEXT-AUTOSPACE:">Current operations</p></td> <td width="140" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:104.9pt; PADDING-RIGHT:5.4pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; tab-stops:7.0pt right 87.0pt">&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,229&nbsp;</p></td> <td width="182" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:136.4pt; PADDING-RIGHT:5.4pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; tab-stops:7.0pt right 119.0pt">&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,708&nbsp;</p></td></tr> <tr style="PAGE-BREAK-INSIDE:avoid"> <td width="268" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:201.1pt; PADDING-RIGHT:5.4pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="MARGIN:0in 52.45pt 0pt 12.6pt; TEXT-AUTOSPACE:">Less: valuation allowance</p></td> <td width="140" style="BORDER-BOTTOM:windowtext 1pt solid; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:104.9pt; PADDING-RIGHT:5.4pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; tab-stops:7.0pt right 87.0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2,229)</p></td> <td width="182" style="BORDER-BOTTOM:windowtext 1pt solid; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:136.4pt; PADDING-RIGHT:5.4pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; tab-stops:7.0pt right 119.0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1,708)</p></td></tr> <tr style="PAGE-BREAK-INSIDE:avoid"> <td width="268" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:201.1pt; PADDING-RIGHT:5.4pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="MARGIN:0in 52.45pt 0pt 0in; TEXT-AUTOSPACE:">&nbsp;</p> <p style="MARGIN:0in 52.45pt 0pt 0in; TEXT-AUTOSPACE:">Net provision for Federal income taxes</p></td> <td width="140" style="BORDER-BOTTOM:windowtext 1.5pt double; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:104.9pt; PADDING-RIGHT:5.4pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; tab-stops:7.0pt right 87.0pt">&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0&nbsp;</p></td> <td width="182" style="BORDER-BOTTOM:windowtext 1.5pt double; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:136.4pt; PADDING-RIGHT:5.4pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; tab-stops:7.0pt right 119.0pt">&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0&nbsp;</p></td></tr></table> <p style="MARGIN:0in 52.45pt 0pt 0in; TEXT-AUTOSPACE:">&nbsp;</p> <p style="MARGIN:0in 52.45pt 0pt 0in; TEXT-AUTOSPACE:">The cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows:</p> <p style="MARGIN:0in 52.45pt 0pt 0in; TEXT-AUTOSPACE:">&nbsp;</p> <p style="MARGIN:0in 52.45pt 0pt 0in; TEXT-AUTOSPACE:">&nbsp;</p> <table style="MARGIN:auto auto auto 5.4pt; BORDER-COLLAPSE:collapse" cellpadding="0" cellspacing="0"> <tr style="PAGE-BREAK-INSIDE:avoid"> <td width="236" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:176.75pt; PADDING-RIGHT:5.4pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="top"> <p style="MARGIN:0in 52.45pt 0pt 0in; TEXT-AUTOSPACE:">&nbsp;</p></td> <td width="136" style="BORDER-BOTTOM:windowtext 1pt solid; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:102.25pt; PADDING-RIGHT:5.4pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:center; MARGIN:0in 52.45pt 0pt 0in; TEXT-AUTOSPACE:; tab-stops:right 4.5in 405.0pt" align="center">April 30, 2012</p></td> <td width="132" style="BORDER-BOTTOM:windowtext 1pt solid; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:99pt; PADDING-RIGHT:5.4pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:center; MARGIN:0in 52.45pt 0pt 0in; TEXT-AUTOSPACE:; tab-stops:right 4.5in 405.0pt" align="center">January 31, 2012</p></td></tr> <tr style="PAGE-BREAK-INSIDE:avoid"> <td width="236" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:176.75pt; PADDING-RIGHT:5.4pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="MARGIN:0in 52.45pt 0pt 0in; TEXT-AUTOSPACE:">Deferred tax asset attributable to:</p></td> <td width="136" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:102.25pt; PADDING-RIGHT:5.4pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:">&nbsp;</p></td> <td width="132" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:99pt; PADDING-RIGHT:5.4pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:">&nbsp;</p></td></tr> <tr style="PAGE-BREAK-INSIDE:avoid"> <td width="236" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:176.75pt; PADDING-RIGHT:5.4pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="MARGIN:0in 52.45pt 0pt 12.6pt; TEXT-AUTOSPACE:">Net operating loss carryover</p></td> <td width="136" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:102.25pt; PADDING-RIGHT:5.4pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; tab-stops:7.0pt right 84.0pt">&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7,131&nbsp;</p></td> <td width="132" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:99pt; PADDING-RIGHT:5.4pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; tab-stops:7.0pt right 81.0pt">&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4,902&nbsp;</p></td></tr> <tr style="PAGE-BREAK-INSIDE:avoid"> <td width="236" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:176.75pt; PADDING-RIGHT:5.4pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="MARGIN:0in 52.45pt 0pt 12.6pt; TEXT-AUTOSPACE:">Less: valuation allowance</p></td> <td width="136" style="BORDER-BOTTOM:windowtext 1pt solid; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:102.25pt; PADDING-RIGHT:5.4pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; tab-stops:7.0pt right 84.0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7,131)</p></td> <td width="132" style="BORDER-BOTTOM:windowtext 1pt solid; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:99pt; PADDING-RIGHT:5.4pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; tab-stops:7.0pt right 81.0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4,902)</p></td></tr> <tr style="PAGE-BREAK-INSIDE:avoid"> <td width="236" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:176.75pt; PADDING-RIGHT:5.4pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="MARGIN:0in 52.45pt 0pt 0in; TEXT-AUTOSPACE:">Net deferred tax asset</p></td> <td width="136" style="BORDER-BOTTOM:windowtext 1.5pt double; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:102.25pt; PADDING-RIGHT:5.4pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; tab-stops:7.0pt right 84.0pt">&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0&nbsp;</p></td> <td width="132" style="BORDER-BOTTOM:windowtext 1.5pt double; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:5.4pt; WIDTH:99pt; PADDING-RIGHT:5.4pt; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; tab-stops:7.0pt right 81.0pt">&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0&nbsp;</p></td></tr></table> <p style="MARGIN:0in 52.45pt 0pt 0in; TEXT-AUTOSPACE:">&nbsp;</p> <p style="MARGIN:0in 52.45pt 0pt 0in">Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of approximately $21,000 for Federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur net operating loss carry forwards may be limited as to use in future years.</p> <!--egx--><p style="MARGIN:0in 52.45pt 0pt 0in"><b>NOTE 8 &#150; COMMITMENTS AND CONTINGENCIES</b></p> <p style="MARGIN:0in 52.45pt 0pt 0in">&nbsp;</p> <p style="MARGIN:0in 52.45pt 0pt 0in">The Company neither owns nor leases any real or personal property. An officer has provided office services without charge.&nbsp; There is no obligation for the officer to continue this arrangement.&nbsp; Such costs are immaterial to the financial statements and accordingly are not reflected herein.&nbsp; The officers and directors are involved in other business activities and most likely will become involved in other business activities in the future.</p> <!--egx--><p style="MARGIN:0in 52.45pt 0pt 0in"><b>NOTE 9 &#150; GOING CONCERN</b></p> <p style="MARGIN:0in 52.45pt 0pt 0in"><b>&nbsp;</b></p> <p style="TEXT-ALIGN:justify; MARGIN:0in 52.45pt 0pt 0in">The accompanying financial statements have been prepared in conformity with generally accepted accounting principle, which contemplate continuation of the Company as a going concern.&nbsp; However, the Company had limited revenues as of April 30, 2012.&nbsp; The Company currently has limited working capital, and has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time.&nbsp; </p> <p style="TEXT-ALIGN:justify; MARGIN:0in 52.45pt 0pt 0in">&nbsp;</p> <p style="TEXT-ALIGN:center; MARGIN:0in 52.45pt 0pt 0in" align="center">Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses The Company intends to position itself so that it </p> <p style="TEXT-ALIGN:justify; MARGIN:0in 52.45pt 0pt 0in; tab-stops:-.75in -.5in 0in .25in .5in 1.0in 1.5in 315.0pt center 351.0pt right 387.0pt left 5.5in center 6.0in right 6.5in">may be able to raise additional funds through the capital markets. In light of management&#146;s efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern.</p> <!--egx--><p style="TEXT-ALIGN:justify; MARGIN:0in 52.45pt 0pt 0in"><b>NOTE 10 &#150; SUBSEQUENT EVENTS</b></p> <p style="TEXT-ALIGN:justify; MARGIN:0in 52.45pt 0pt 0in">&nbsp;</p> <p style="TEXT-ALIGN:justify; MARGIN:0in 52.45pt 0pt 0in">In accordance with ASC 855-10, the Company <strong><font style="FONT-WEIGHT:normal">has analyzed its operations subsequent to April 30, 2012 to the date these financial statements were issued, and has determined that it does not have any material subsequent events to disclose in these financial statements.</font></strong></p> 10-Q 2012-03-31 false Pinacle Enterprise, Inc. 0001522165 --12-31 Smaller Reporting Company Yes Yes No 2012 Q1 5300000 0001522165 2012-01-31 2012-04-30 0001522165 2012-04-30 0001522165 2012-01-31 0001522165 2012-02-01 2012-04-30 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Loan from Shareholder
3 Months Ended
Apr. 30, 2012
Receivables, Loans, Notes Receivable, and Others:  
Loans, Notes, Trade and Other Receivables Disclosure

NOTE 5 – LOAN FROM SHAREHOLDER

 

On May 20, 2010, a shareholder loaned $25 to the Company to open the bank account.  The loan is unsecured, non-interest bearing and due on demand. The balance due to the shareholder was $25 as of April 30, 2012 and January 31, 2012.

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M83)D,&,R8F1E.#=C+U=O'0O:'1M;#L@8VAA6QE/3-$)U1%6%0M04Q)1TXZ:G5S=&EF>3L@34%21TE..C!I;B`U,BXT-7!T M(#!P="`P:6XG/DEN(&%C8V]R9&%N8V4@=VET:"!!4T,@.#4U+3$P+"!T:&4@ M0V]M<&%N>2`\6QE/3-$1D].5"U714E'2%0Z;F]R M;6%L/FAA7IE9"!I=',@;W!E7!E.B!T97AT+VAT;6P[(&-H87)S970] M(G5S+6%S8VEI(@T*#0H\>&UL('AM;&YS.F\],T0B=7)N.G-C:&5M87,M;6EC M'1087)T7V$T.3!E8S5F7V8V,S5? :-#DQ95]A.#ED7V$R9#!C,F)D93@W8RTM#0H` ` end XML 14 R8.htm IDEA: XBRL DOCUMENT v2.4.0.6
Accrued Expenses
3 Months Ended
Apr. 30, 2012
Payables and Accruals:  
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current

NOTE 4 – ACCRUED EXPENSES

 

Accrued expenses at April 30, 2012 consisted of $950 owed to the Company’s outside independent auditors for services rendered for the quarter ended April 30, 2012.  Accrued expenses at January 31, 2012 consisted of $4000 owed to the Company’s outside independent auditors for services rendered for the year ended January 31, 2012 and $500 due to a vendor for website design.

XML 15 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
Pinacle Enterprise Inc. -Balance Sheets (USD $)
Apr. 30, 2012
Jan. 31, 2012
Cash and cash equivalents $ 4,238 $ 14,246
Property and equipment, net 768 866
Total Assets 5,006 15,112
Accrued expenses 950 4,500
Loans from shareholder 25 25
Total Liabilities 975 4,525
Common stock, par value $0.001; 75,000,000 shares authorized, 5,300,000 shares issued and outstanding 5,300 5,300
Additional paid in capital 19,700 19,700
Deficit accumulated during the development stage (20,969) (14,413)
Total Stockholders' Equity 4,031 10,587
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 5,006 $ 15,112
XML 16 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Summary of Significant Accounting Policies
3 Months Ended
Apr. 30, 2012
Accounting Policies:  
Basis of Accounting, Policy

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Development Stage Company

The accompanying financial statements have been prepared in accordance with generally accepted accounting principles related to development stage companies. A development-stage company is one in which planned principal operations have not commenced or if its operations have commenced, there has been no significant revenues there from.

Basis of Presentation

The financial statements of the Company have been prepared using the accrual basis of accounting and in accordance with generally accepted accounting principles in the United States of America, and are presented in US dollars.  The Company has adopted a January 31 fiscal year end.

 

Cash and Cash Equivalents

The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company had $4,238 and $14,246 of cash as of April 30, 2012 and January 31, 2012, respectively.

 

Property and Equipment

The capital assets are being depreciated over their estimated useful lives using the straight line method of depreciation for book purposes.

 

Fair Value of Financial Instruments

The Company’s financial instruments consist of cash and cash equivalents, property and equipment, accrued expenses and amounts due to a shareholder. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements.

 

Income Taxes

Income taxes are computed using the asset and liability method.  Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws.  A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.

Use of Estimates

The preparation of 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 the financial statements and the reported amount of revenues and expenses during the reporting period.  Actual results could differ from those estimates.

 

Revenue Recognition

The Company recognizes revenue when products are fully delivered or services have been provided and collection is reasonably assured.

 

Stock-Based Compensation

Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718.  To date, the Company has not adopted a stock option plan and has not granted any stock options.

 

Basic Income (Loss) Per Share

Basic income (loss) per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company’s net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are no such common stock equivalents outstanding as of April 30, 2012.

 

Comprehensive Income

The Company has which established standards for reporting and display of comprehensive income, its components and accumulated balances.  When applicable, the Company would disclose this information on its Statement of Stockholders’ Equity.  Comprehensive income comprises equity except those resulting from investments by owners and distributions to owners. The Company has not had any significant transactions that are required to be reported in other comprehensive income.

 

Recent Accounting Pronouncements

Pinacle does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flow.

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XML 18 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Property and Equipment
3 Months Ended
Apr. 30, 2012
Property, Plant, and Equipment:  
Property, Plant and Equipment

NOTE 3 – PROPERTY AND EQUIPMENT

 

Property and equipment is recorded at cost and consisted of the following at April 30, 2012 and January 31, 2012:

 

 

April 30, 2012

January 31, 2012

Computer software

$      1,180

$      1,180

Less: Accumulated depreciation

(412)

(314)

    Property and equipment, net

$         768

$         866

 

The Company estimated the estimated useful life of the software to be three years.

 

Depreciation expense was $98 and $0 for the three months ended April 30, 2012 and 2011

XML 19 R3.htm IDEA: XBRL DOCUMENT v2.4.0.6
Pinacle Enterprises Inc.- Statement of Operations (USD $)
3 Months Ended 24 Months Ended
Apr. 30, 2012
Apr. 30, 2011
Apr. 30, 2012
Revenues $ 0 $ 0 $ 1,000
Operating Expenses:      
Professional fees 5,950 4,180 19,900
Bank fees 45 34 319
Advertising 15 15 90
Amortization 98 0 412
Website 0 500 500
General and administrative expenses 448 294 748
Total Operating Expenses 6,556 5,023 21,969
Operating Loss (6,556) (5,023) (20,969)
Provision for Income Taxes 0 0 0
Net loss $ (6,556) $ (5,023) $ (20,969)
Net Loss per share, Basic and Diluted $ 0.00 $ 0.00  
Weighted average number of shares outstanding, Basic and Diluted 5,300,000 5,300,000  
XML 20 R1.htm IDEA: XBRL DOCUMENT v2.4.0.6
Document and Entity Information
3 Months Ended
Apr. 30, 2012
Mar. 31, 2012
Document and Entity Information:    
Entity Registrant Name Pinacle Enterprise, Inc. Pinacle Enterprise, Inc.
Document Type 10-Q 10-Q
Document Period End Date Apr. 30, 2012 Mar. 31, 2012
Amendment Flag false false
Entity Central Index Key 0001522165 0001522165
Current Fiscal Year End Date --12-31 --12-31
Entity Common Stock, Shares Outstanding 5,300,000  
Entity Filer Category Smaller Reporting Company Smaller Reporting Company
Entity Current Reporting Status Yes Yes
Entity Voluntary Filers Yes Yes
Entity Well-known Seasoned Issuer No No
Document Fiscal Year Focus 2012 2012
Document Fiscal Period Focus Q1 Q1
XML 21 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Pinacle Enterprises Inc. -Statement of Cash Flows (USD $)
3 Months Ended 24 Months Ended
Apr. 30, 2012
Apr. 30, 2011
Apr. 30, 2012
Net loss $ (6,556) $ (5,023) $ (20,969)
Adjustments to reconcile net loss to net cash (used in) operating activities:      
Amortization 98 0 412
Changes in assets and liabilities:      
Increase (decrease) in accrued expenses (3,550) 0 950
Net Cash Used in Operating Activities (10,008) (5,023) (19,607)
Cash Flows from Investing Activities:      
Purchase of property and equipment (1,180) 0 (1,180)
Net Cash Used in Investing Activities 0 0 (1,180)
Cash flows from Financing Activities:      
Proceeds from sale of common stock 0 0 25,000
Loans from shareholder 25 0 25
Net Cash Provided by Financing Activities 0 0 25,025
Net Increase (Decrease) in Cash (10,008) (5,023) 4,238
Cash Balance at beginning of period 14,246 21,029 0
Cash Balance at end of period 4,238 16,006 4,238
Supplemental Cash Flow Information      
Interest paid 0 0  
Income taxes paid $ 0 $ 0  
XML 22 R12.htm IDEA: XBRL DOCUMENT v2.4.0.6
Commitment and Contingencies
3 Months Ended
Apr. 30, 2012
Commitment and Contingencies:  
Commitments and Contingencies Disclosure

NOTE 8 – COMMITMENTS AND CONTINGENCIES

 

The Company neither owns nor leases any real or personal property. An officer has provided office services without charge.  There is no obligation for the officer to continue this arrangement.  Such costs are immaterial to the financial statements and accordingly are not reflected herein.  The officers and directors are involved in other business activities and most likely will become involved in other business activities in the future.

XML 23 R11.htm IDEA: XBRL DOCUMENT v2.4.0.6
Income Taxes
3 Months Ended
Apr. 30, 2012
Income Taxes:  
Income Tax Disclosure

NOTE 7 – INCOME TAXES

 

As of April 30, 2012, the Company had net operating loss carry forwards of approximately $21,000 that may be available to reduce future years’ taxable income in varying amounts through 2032.

 Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards.

 

The provision for Federal income tax consists of the following:

 

 

April 30, 2012

April 30, 2011

Federal income tax benefit attributable to:

 

 

Current operations

  $               2,229 

  $                          1,708 

Less: valuation allowance

                  (2,229)

                            (1,708)

 

Net provision for Federal income taxes

  $                      0 

  $                                 0 

 

The cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows:

 

 

 

April 30, 2012

January 31, 2012

Deferred tax asset attributable to:

 

 

Net operating loss carryover

  $              7,131 

  $             4,902 

Less: valuation allowance

                 (7,131)

                (4,902)

Net deferred tax asset

  $                     0 

  $                    0 

 

Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of approximately $21,000 for Federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur net operating loss carry forwards may be limited as to use in future years.

XML 24 R13.htm IDEA: XBRL DOCUMENT v2.4.0.6
Going Concern
3 Months Ended
Apr. 30, 2012
Organization, Consolidation and Presentation of Financial Statements:  
Going Concern Note

NOTE 9 – GOING CONCERN

 

The accompanying financial statements have been prepared in conformity with generally accepted accounting principle, which contemplate continuation of the Company as a going concern.  However, the Company had limited revenues as of April 30, 2012.  The Company currently has limited working capital, and has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time. 

 

Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses The Company intends to position itself so that it

may be able to raise additional funds through the capital markets. In light of management’s efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern.

XML 25 R14.htm IDEA: XBRL DOCUMENT v2.4.0.6
Subsequent Events
3 Months Ended
Apr. 30, 2012
Subsequent Events:  
Schedule of Subsequent Events

NOTE 10 – SUBSEQUENT EVENTS

 

In accordance with ASC 855-10, the Company has analyzed its operations subsequent to April 30, 2012 to the date these financial statements were issued, and has determined that it does not have any material subsequent events to disclose in these financial statements.

XML 26 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
Organization and Nature of Business
3 Months Ended
Apr. 30, 2012
Accounting Policies:  
Business Description and Accounting Policies

NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS

 

Pinacle Enterprise Inc. (the "Company" or “Pinacle”) was incorporated under the laws of the State of Nevada on April 19, 2010.  The Company plans to specialize in architectural design, architectural animation, 3D modeling as well as CAD drafting and conversion services.

XML 27 R10.htm IDEA: XBRL DOCUMENT v2.4.0.6
Common Stock
3 Months Ended
Apr. 30, 2012
Equity:  
Stockholders' Equity Note Disclosure

NOTE 6 – COMMON STOCK

 

The Company has 75,000,000, $0.001 par value shares of common stock authorized.

 

On July 2, 2010, the Company issued 4,000,000 shares of common stock for cash proceeds of $4,000 at $0.001 per share.

 

On July 9, 2010, the Company issued 500,000 shares of common stock for cash proceeds of $5,000 at $0.01 per share.

 

On August 11, 2010, the Company issued 800,000 shares of common stock for cash proceeds of $16,000 at $0.02 per share.

 

There were no additional stock issuances during the period ended April 30, 2012.

 

There were 5,300,000 shares of common stock issued and outstanding as of April 30, 2012 and January 31, 2012.

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