0001477932-13-003822.txt : 20130816 0001477932-13-003822.hdr.sgml : 20130816 20130815215418 ACCESSION NUMBER: 0001477932-13-003822 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 9 CONFORMED PERIOD OF REPORT: 20130531 FILED AS OF DATE: 20130816 DATE AS OF CHANGE: 20130815 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Book It Local Inc CENTRAL INDEX KEY: 0001556416 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PERSONAL SERVICES [7200] IRS NUMBER: 460780380 STATE OF INCORPORATION: NV FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-55022 FILM NUMBER: 131043737 BUSINESS ADDRESS: STREET 1: 2003 SYMPHONY LANE CITY: INDIAN TRAIL STATE: NC ZIP: 28079 BUSINESS PHONE: 980-254-1842 MAIL ADDRESS: STREET 1: 2003 SYMPHONY LANE CITY: INDIAN TRAIL STATE: NC ZIP: 28079 10-Q 1 book_10q.htm FORM 10-Q book_10q.htm


U. S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
Form 10-Q
 
(Mark One)
   
þ
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
For the quarterly period ended May 31, 2013
 
o
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
Commission File Number
 
Book It Local, Inc.
(Name of small business issuer in its charter)
 
Nevada
 
3949
 
 46-0780380
(State or other Employer jurisdiction
of Identification incorporation or organization)
 
(Primary Standard Industrial
Classification Code Number)
 
(I.R.S. Number)

Joseph McMurry
2003 Symphony Lane
Indian Trail, NC 28079
980-216-1342 Telephone
(Address and telephone number of registrant's principal executive offices and principal place of business)

Joseph McMurry
Chief Executive Officer
2003 Symphony Lane
Indian Trail, NC 28079
980-216-1342 Telephone
 (Name, address, and telephone number of agent for service)

Please send a copy of all correspondence to:
Jillian Ivey Sidoti, Esq
PHONE 323-799-1342
jillian@jilliansidoti.com

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 þ  No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,”“accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.
 
Large accelerated filer o
 
Accelerated filer o
 
Non-accelerated filer o
 
Smaller reporting company þ
       
(Do not check if a smaller reporting company)
   
 
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes þ    No o
 
At August 8, 2013, there were 10,597,572 shares outstanding of the registrant’s common stock.
 


 
 

 
BOOK IT LOCAL, INC.
INDEX TO FORM 10-Q
FOR THE QUARTER ENDED May 31, 2013
 
     
Page
 
     
Number
 
PART I. FINANCIAL INFORMATION      
         
Item 1. Financial Statements   F-1  
         
  Balance Sheets as of August 31, 2012 and May 31, 2013   F-1  
         
  Statements of Operations for the three months and nine months ended May 31, 2013 and for the period from Inception to May 31, 2013   F-2  
         
  Statement of Changes in Stockholders’ Equity   F-3  
         
  Statements of Cash Flows for the nine months ended May 31, 2013 and for the period from Inception to May 31, 2013   F-4  
         
  Notes to Financial Statements   F-5  
         
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations   3  
         
Item 3.
Quantitative & Qualitative Disclosures about Market Risks   5  
         
Item 4.
Controls and Procedures   5  
         
PART II. OTHER INFORMATION
     
         
Item 1.
Legal Proceedings   7  
         
Item 2.
Unregistered Sales of Equity Securities and Use of Proceeds   7  
         
Item 3.
Defaults upon senior securities   7  
         
Item 4.
Submissions of matters to a vote of securities holders   7  
         
Item 5.
Other Information   7  
         
Item 6.
Exhibits   8  
         
Exhibit 31.1
 
   
Exhibit 32.1
 

 
2

 
 
PART I — FINANCIAL INFORMATION
 
Item 1. FINANCIAL STATEMENTS
 
Book it Local Inc
(A Development Stage Company)
Balance Sheets
 
 
As of
May 31, 2013
   
As of
August 31, 2012
 
 
(Unaudited)
   
(Audited)
 
ASSETS
         
           
Current Assets          
Cash
  $ 2,140       10,935  
Other current assets
               
                 
Total Current Assets
    2,140       10,935  
                 
TOTAL ASSETS
  $ 2,140       10,935  
                 
LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)
 
Current Liabilities
               
Officer advances
  $ -       -  
                 
Total Current Liabilities
    -       -  
                 
Total Liabilities
    -       -  
                 
Stockholders' Equity (Deficit)
               
Preferred stock ($0.0001 par value; 10,000,000 authorized no shares issued and outstanding)
               
Common stock, ($0.0001 par value, 100,000,000 shares authorized; 10,597,571 shares issued and outstanding)
    1,060       1,060  
Additional paid-in capital
    9,875       9,875  
Deficit accumulated during development stage
    (8,795 )        
                 
Total Stockholders' Equity (Deficit)
    2,140       10,935  
                 
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)
  $ 2,140       10,935  
 
The accompanying notes are an integral part of these financial statements.
 
 
F-1

 
 
Book it Local Inc
(A Development Stage Company)
Statements of Operations (Unaudited)
 
   
3-Month
Period ended
May 31, 2013
   
9-Month
Period ended
 May 31, 2013
   
Cumulative from August 11, 2012 (inception) to
May 31, 2013
 
Revenues
                 
                   
Revenues
  $ -               -  
                         
Total Revenues
    -               -  
                         
Operating Costs
                       
Professional Fees
    (6,295 )     (8,795 )     (8,795 )
Taxes and licences
                       
                         
Total Operating Costs
    -               -  
                         
Net Income (Loss)
    (6,295 )     (8,795 )     (8,795 )
                         
Basic earnings per share
  $ -               -  
                         
Weighted average number of common shares outstanding
    10,597,572       10,597,572       10,203,082  
 
The accompanying notes are an integral part of these financial statements.
 
 
F-2

 
 
Book it Local Inc
(A Development Stage Company)
Statement of Changes in Stockholders' Equity
 
                     
Deficit
       
                     
Accumulated
       
         
Common
   
Additional
   
During
       
   
Common
   
Stock
   
Paid-in
   
Development
       
   
Stock
   
Amount
   
Capital
   
Stage
   
Total
 
                               
Balance August 11, 2012 (Inception)
   
-
   
$
-
   
$
-
   
$
-
   
$
-
 
                                         
Stock issued for cash
                                       
  on  8/21/2012
                                       
   @.0001
   
9,600,072
   
$
960
                   
$
960
 
                                         
Stock issued for cash
                                       
  on  8/31/2012
                                       
   @.01
   
997,500
   
$
100
   
$
9,875
           
$
9,975
 
                                         
Net Income (Loss,), for the period                            
(8,795)
     
(8,795)
 
                                         
Balance,  May 31, 2013
   
10,597,572
     
1,060
     
9,875
     
(8,795)
     
2,140
 
 
The accompanying notes are an integral part of these financial statements.
 
 
F-3

 
 
Book it Local Inc
(A Development Stage Company)
Statements of Cash Flow (Unaudited)
 
   
9-Month Period ended
May 31, 2013
   
Cumulative from August 11, 2012 (Inception) to
May 31, 2013
 
CASH FLOWS FROM OPERATING ACTIVITIES
           
             
Net income (loss)
    (8,795 )     (8,795 )
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
               
Increase in other current asset
               
                 
Changes in operating assets and liabilities:
               
Increase (decrease) in accrued expenses
            -  
                 
Net cash provided by (used in) operating activities
    (8,795 )     (8,795 )
                 
CASH FLOWS FROM INVESTING ACTIVITIES
               
                 
Net cash provided by (used in) investing activities
    -       -  
                 
CASH FLOWS FROM FINANCING ACTIVITIES
               
                 
Increase (decrease) in officer advances
               
Issuance of common stock
    0       10,935  
                 
Net cash provided by (used in) financing activities
    0       10,935  
                 
Net increase (decrease) in cash
    (8,795 )     2,140  
                 
Cash at beginning of period
    10,935       0  
                 
Cash at end of period
    2,140       2,140  
                 
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
               
                 
Cash paid during the period for :
               
                 
Interest
    -       -  
                 
Income Taxes
    -       -  
 
The accompanying notes are an integral part of these financial statements.
 
 
F-4

 
 
Book it Local, Inc
NOTES TO FINANCIAL STATEMENTS
(A Development Stage Company)
May 31, 2013

 
1.   NATURE OF OPERATIONS
 
Book It Local, Inc(“The Company”) was incorporated in the State of Nevada on August 11, 2012 to develop its online booking system to help consumers find and hire live entertainment for weddings, corporate events, private parties, night clubs, grand openings, and other events.  The Company is in the development stage with no revenues and a limited operating history.
 
2.   GOING CONCERN CONSIDERATION
 
These financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates, among other things, the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has incurred a cumulative net loss of $8,795 since its inception and requires capital for its contemplated operation and marketing activities to take place. The Company's ability to raise additional capital through the future issuances of common stock is unknown. The obtainment of additional financing, the successful development of the Company's contemplated plan of operations, and its transition, ultimately, to the attainment of profitable operations are necessary for the Company to continue operations. The ability to successfully resolve these factors raise substantial doubt about the Company's ability to continue as a going concern.
 
Future issuances of the Company's equity or debt securities will be required in order for the Company to continue to finance its operations and continue as a going concern. The Company's present revenues are insufficient to meet operating expenses. The financial statements do not include any adjustments that may result from the outcome of these aforementioned uncertainties.
 
3.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 
Basis of Presentation
 
The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. The Company’s year-end is August 31.

Interim Financial Statements
 
The financial statements of Book it Local, Inc (the “Company”) as of May 31, 2103, and the statements of operations, and cash flows for the period from August 11, 2012 (inception) to May 31, 2013 has been presented in an interim basis.

However, in the opinion of management, such information includes all adjustments (consisting only of normal recurring adjustments) which are necessary to properly reflect the financial position of the Company as of May 31, 2013, and the results of operations for the period aforementioned.
 
Certain information and notes normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted, although management believes that the disclosures are adequate to make the information presented not misleading. Interim period results are not necessarily indicative of the results to be achieved for an entire year. These financial statements should be read in conjunction with the annual financial statements and notes to financial statements.

 
F-5

 

Cash and Cash Equivalents
 
The Company considers all highly liquid investments with original maturity of three months or less to be cash equivalents.
 
Use of Estimates and Assumptions
 
The preparation of financial statements in conformity with generally accepted accounting principles requires that management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates.
 
Revenue Recognition
 
The Company applies paragraph 605-10-S99-1 of the FASB Accounting Standards Codification for revenue recognition.  The Company recognizes revenue when it is realized or realizable and earned less estimated future doubtful accounts.  The Company considers revenue realized or realizable and earned when all of the following criteria are met:
 
(i)  
 persuasive evidence of an arrangement exists,
(ii)  
 the services have been rendered and all required milestones achieved,
(iii)  
 the sales price is fixed or determinable, and
(iv)  
 collectability is reasonably assured.

Foreign Currency Translation
 
The financial statements are presented in United States dollars. In accordance with ASC 830, “Foreign Currency Matters”, foreign denominated monetary assets and liabilities are translated into their United States dollar equivalents using foreign exchange rates which prevailed at the balance sheet date. Revenue and expenses are translated at average rates of exchange during the year. Gains or losses resulting from foreign currency transactions are included in results of operations.
 
Stock-Based Compensation
 
The Company accounts for stock-based compensation using the fair value method following the guidance set forth in section 718-10 of the FASB Accounting Standards Codification for disclosure about Stock-Based Compensation. This section requires a public entity to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award (with limited exceptions). That cost will be recognized over the period during which an employee is required to provide service in exchange for the award- the requisite service period (usually the vesting period). No compensation cost is recognized for equity instruments for which employees do not render the requisite service.
 
Development Stage Company
 
The Company complies with Financial Accounting Standards Codification (“ASC”) 915 and Securities and Exchange Commission Act Guide 7 for its characterization of the Company as a development stage enterprise.
 
 
F-6

 
 
Fair Value for Financial Assets and Financial Liabilities
 
The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments.  Paragraph 820-10-35-37 establishes a framework for measuring fair value in accounting principles generally accepted in the United States of America (U.S. GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels.  The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs.  The three levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below:
 
Level 1
Quoted market prices available in active markets for identical assets or liabilities as of the reporting date.
   
Level 2
Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.
   
Level 3
Pricing inputs that are generally observable inputs and not corroborated by market data.

The carrying amounts of the Company’s financial assets and liabilities, such as cash, approximate their fair values because of the short maturity of these instruments.
 
The Company does not have any assets or liabilities measured at fair value on a recurring or a non-recurring basis, consequently, the Company did not have any fair value adjustments for assets and liabilities measured at fair value at May 31, 2013, nor gains or losses are reported in the statement of operations that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date for the nine months ended May 31, 2013.
 
Income Taxes
 
The Company follows the accrual method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences). The effect on the deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. At May 31, 2013, a full deferred tax asset valuation allowance has been provided and no deferred tax asset has been recorded.
 
Basic and Diluted Net Income (Loss) per Share
 
The Company computes net income (loss) per share in accordance with ASC 260, "Earnings per Share" which requires presentation of both basic and diluted earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of common shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period including stock options, using the treasury stock method, and convertible preferred stock, using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential common shares if their effect is anti-dilutive.
 
 
F-7

 

Recent Accounting Pronouncements
 
The Company has reviewed all recently issued, but not yet effective, accounting pronouncements up to ASU 2013-07, and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.
 
4.    DEVELOPMENT STAGE COMPANY
 
The Company is in the development stage as of May 31, 2013 and to date has had no significant operations.  Recovery of the Company’s assets is dependent on future events, the outcome of which is indeterminable. In addition, successful completion of the Company’s development program and its transition, ultimately, to attaining profitable operations is dependent upon obtaining adequate financing to fulfill its development activities and achieving a level of sales adequate to support the Company’s cost structure.
 
5.    RELATED PARTY TRANSACTIONS
 
The President of the Company provides management and office premises to the Company for no compensation.
 
6.    STOCKHOLDERS’ EQUITY
 
In August, 2012, the Company authorized the issue of 100,000,000 common shares of the company at par value of $.0001and authorized the issue of 10,000,000 preferred shares at par value of $.0001.

During the nine months ended May 31, 2013, the Company did not issue any common stock or preferred stock.
 
At May 31, 2013, there are total of 10,597,571 common shares of the Company issued and outstanding.
 
7.    INCOME TAXES
 
Due to the operating loss and the inability to recognize an income tax benefit, there is no provision for current or deferred federal or state income taxes for the period from inception through May 31, 2013.
 
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amount used for federal and state income tax purposes.
 
 
F-8

 
 
The Company’s total deferred tax asset, calculated using federal and state effective tax rates, as of May 31, is as follows:
                                                                                       
    2013  
Total Deferred Tax Asset
  $ (3,078 )
Valuation Allowance
    3,078  
Net Deferred Tax Asset
  $ -  

The reconciliation of income taxes computed at the federal statutory income tax rate to total income taxes for the nine months ended May 31, 2013 is as follows:
 
   
2013
 
Income tax computed at the federal statutory rate
    35.0 %
State income tax, net of federal tax benefit
    0.0 %
Total
    35.0 %
Valuation allowance
    (35.0) %
Total deferred tax asset
    0.0 %

Because of the Company’s lack of earnings history, the deferred tax asset has been fully offset by a valuation allowance.  The valuation allowance increased by approximately $3,078 during the nine months ended May 31, 2013.
 
As of May 31, 2013, the Company had a federal and state net operating loss carry forward in the amount of approximately $8,795 which expires in the year 2033.
 
8.    SUPPLEMENTAL CASH FLOW INFORMATION
 
Supplemental disclosures of cash flow information for the nine months ended May 31, 2013 is summarized as follows:
 
Cash paid during the nine months ended May 31, 2013 for interest and income taxes is as follows:
 
   
2013
 
Interest
  $ -  
Taxes
  $ -  

9.    SUBSEQUENT EVENTS
 
In accordance with ASC 855, Subsequent Events, the Company has evaluated subsequent events through August 8, 2013, the date of available issuance of these financial statements. During this period, the Company did not have any material recognizable subsequent events.
 
 
F-9

 
 
Item 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion and analysis should be read in conjunction with the consolidated financial statements and related notes included in this report and those in our S-1 registration statement deemed effective on June 10, 2013. This discussion contains forward-looking statements that involve risks and uncertainties. Our actual results may differ materially from those anticipated in such forward-looking statements as a result of certain factors, including but not limited to, those described under “Risk Factors” included in Part II, Item IA of this report.

Background Overview
 
Book It Local, Inc. is a development stage company incorporated in the State of Nevada in August 2012. We were formed to engage in the business of booking entertainment for events through an online system that connects those running events and entertainers that may perform at such events. In August 2012, we commenced our planned principal operations, and therefore have no significant assets. To date, we solely developed our business plan.
 
Since our inception on August 11, 2012 to August 31, 2012, we have not generated any revenues nor have we incurred a loss. During this time, we incurred operating expenses of $0 resulting in a cumulative profit of $0. For the period ending May 31, 2013 we incurred $2,500 in professional fees to pay our auditor resulting in a net loss of $2,500. To this point, our only business activity has been the formation of our corporate entity, creation and development of our business model, and analyzing the viability of our business. We believe that sales revenue, loans from our officer, and small amounts of equity will be sufficient to support the limited costs associated with our initial ongoing operations for the next twelve months. We may sell additional shares in a private offering or other offering if we are unable to obtain funds from another source such as a shareholder loan. If sufficient funds cannot be raised, none of the Company’s plans may be implemented. There can be no assurance that the actual expenses incurred will not materially exceed our estimates or that cash flows from listing fees will be adequate to maintain our business. As a result, our independent auditors have expressed substantial doubt about our ability to continue as a going concern in the independent auditors’ report to the financial statements included in the registration statement.
 
We are currently researching software platforms on which to develop our bidding system and website. We are also researching whether we will use American or foreign developers. Foreign web developers have the advantage of being more affordable, but possible communication barriers may not make this the most efficient choice. We will look to outsourcing websites such as ODESK.com for potential foreign developer candidates.
 
Results of Operations for the Quarter ending May 31, 2013
 
Assets
 
Currently, we have $2,140 in cash which is our only asset.
 
Operating Expense

Total operating expenses for the three months ended May 31, 2013 were $6,295 compared to expenses of $8,795 for the period ended May 31, 2013 since inception.
 
 
3

 

Net Loss

Net loss for the three months ended May 31, 2013 was $(6,295) and $(8,795) for the nine months ended May 31, 2013 compared to the period ended May 31, 2013 since inception of $(8,795) meaning we incurred most of our expenses in the three months ending May 31, 2013. 
 
Liquidity and Capital Resources
 
At May 31, 2013, we had $2,140 in cash.

Critical Accounting Policies and Estimates

Our critical accounting policies are disclosed in our S-1 Registration Statement. During the three months ended May 31, 2013 there have been no significant changes in our critical accounting policies.

Recent Accounting Pronouncements

Recent accounting pronouncements are disclosed in our S-1 Registration Statement,deemed effective with the Securities and Exchange Commission on June 10, 2013. During the three and nine months ended May 31, 2013 there have been no new accounting pronouncements which are expected to significantly impact our consolidated financial statements.

The Company has $2,140 in cash. The investigation of prospective financing candidates involves the expenditure of capital.  The Company will likely have to look to Mr. McMurry or to third parties for additional capital.  There can be no assurance that the Company will be able to secure additional financing or that the amount of any additional financing will be sufficient to conclude its business objectives or to pay ongoing operating expenses.
 
If Mr. McMurry is unable to lend additional funds to the Company in the event that Company needs additional funds, we may need to deploy a plan to sell additional shares or look to a third party to lend funds to the Company. If the Company is to borrow funds from a third party, the terms and conditions of such a loan may not be on favorable terms. If we are unable to address our liquidity issues, there is a great chance that the Company will not have adequate funding to continue its business plan and will thus, fail.
  
We will require as much as $100,000 in order to build our website and website application so that we may start generating revenues. $100,000 will be enough to fund our operations for the next 12 months, so long as we keep our operations to a minimum and are able to generate revenues.  We currently only have $2,140. Therefore, the cash currently available to us will not enable us to develop the business to the state in which it will optimally be able to generate revenues. If we are to generate revenues prior to needing any additional funding, we will immediately reinvest such revenues into further development our business and deployment of our business plan. We believe that the cash we have available will sustain us for approximately three (3) more months so long as we continuing operating in the manner that we are currently operating.
 
 
4

 
 
Equity Distribution to Management
 
Since our incorporation, we have raised capital through private sales of our common equity.  As of May 31, 2013, we have issued 10,597,572 shares of our common stock to various shareholders, in exchange for cash and services.  Specifically, Mr. McMurry received 211,950 shares in exchange for services relating to our organization, and development or our business plan worth approximately $21,195.
 
Off-Balance Sheet Arrangements
   
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 is material to investors.

Item 3. Quantitative & Qualitative Disclosures about Market Risks
 
Not applicable.

Item 4. CONTROLS AND PROCEDURES
 
Evaluation of Disclosure Controls and Procedures
 
The Company carried out an evaluation of the effectiveness of the design and operation of its disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) as of May 31, 2013.  This evaluation was accomplished under the supervision and with the participation of our chief executive officer / principal executive officer, and chief financial officer / principal financial officer who concluded that our disclosure controls and procedures are currently effective to ensure that all material information required to be filed in the quarterly report on Form 10-Q has been made known to them.
 
For purposes of this section, the term disclosure controls and procedures means controls and other procedures of an issuer that are designed to ensure that information required to be disclosed by the issuer in the reports that it files or submits under the Act (15 U.S.C. 78a et seg.) 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 in our reports filed under the Securities Exchange Act of 1934, as amended (the "Act") is accumulated and communicated to the issuer's management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.
 
Based upon an evaluation conducted for the period ended May 31, 2013, our Chief Executive Officer and Chief Financial Officer as of May 31, 2013, and as of the date of this Report, has concluded that as of the end of the periods covered by this report, he has identified no material weakness of Company internal controls.
 
Corporate expenses incurred are processed and paid by the officer of the Company.  The current number of transactions is not sufficient to justify the retaining of additional accounting personnel.
 
 
5

 
 
Management’s Report on Internal Control over Financial Reporting
 
Our management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Rules 13a-15(f) and 15d-15(f) of the Exchange Act. Our internal control system was designed 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 in the United States of America.  Our internal control over financial reporting includes those policies and procedures that (i) pertain to the maintenance records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Company; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with accounting principles generally accepted in the United States of America, and that receipts and expenditures of the Company are being made only in accordance with authorizations of management of the Company; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the Company’s assets that could have a material effect on the financial statements.
 
Because of inherent limitations, a system of internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate due to change in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Our management conducted an evaluation of the effectiveness of our internal control over financial reporting using the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control—Integrated Framework.  Based on its evaluation, our management concluded that, as of May 31, 2013, our internal control over financial reporting was effective.
 
This quarterly report does not include an attestation report of the Company’s registered public accounting firm regarding internal control over financial reporting.  Management’s report was not subject to the attestation by the Company’s registered public accounting firm pursuant to temporary rules of the SEC that permit the Company to provide only management’s report in this quarterly  report.
 
Changes in Internal Controls over Financial Reporting
 
We have not yet made any changes in our internal controls over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.
 
 
6

 

PART II. OTHER INFORMATION
 
Item 1. LEGAL PROCEEDINGS

None
 
Item 2.  UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
 
None
 
Item 3.  DEFAULTS UPON SENIOR SECURITEIES
 
None

Item 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
 
None

Item 5.  OTHER INFORMATION
 
None
 
 
7

 

Item 6. EXHIBITS
 
(a) Exhibits:
 
Number
 
Description
     
31.1
 
Certification of Chief Executive and Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. (Filed herewith.)
     
32.1
 
Certification of Chief Executive and Financial Officer pursuant to 18 U.S.C. §1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. (Filed herewith.)
 
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

** 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.
 
 
8

 
 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
 
  Book it Local, Inc.  
       
Date: August 8, 2013
By:
/s/ Joseph McMurry  
  Name: Joseph McMurry  
   
President and Director
(Principal Executive Officer)
 
 
 
Date:August 8, 2013 By: /s/ Joseph McMurry  
  Name:
Joseph McMurry
 
   
Secretary, Treasurer ,and Chief Financial Officer
 
   
(Principal Financial Officer, and Principal Accounting Officer)
 

 
 
9

EX-31.1 2 book_ex311.htm CERTIFICATION book_ex311.htm
EXHIBIT 31.1
 
CERTIFICATION OF JOSEPH MCMURRY PRINCIPAL EXECUTIVE OFFICER AND PRINCIPAL FINANCIAL OFFICER,
PURSUANT TO RULE 13a-14(a) UNDER THE SECURITIES EXCHANGE ACT OF 1934
 
I, JOSEPH MCMURRY, certify that:
 
1.  
I have reviewed this quarterly report on Form 10-Q of Book It Local 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.  
The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
 
a.  
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
 
b.  
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
 
c.  
Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
 
d.  
Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth 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 our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
 
a.  
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
 
b.  
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
 
 
Date: August 8, 2013
By:
/s/ Joseph Mcmurry  
   
Joseph Mcmurry
 
    Principal Executive Officer  
    and Principal Financial Officer  
EX-32.1 3 book_ex321.htm CERTIFICATION book_ex321.htm
EXHIBIT 32.1
 
Section 1350 Certifications
 
Book It Local, Inc.
 
Pursuant to Section 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 Pursuant to section 906 of the Sarbanes-Oxley Act of 2002 (subsection (a) and (b) of section 1350, chapter 63 of title 18, United States Code), each of the undersigned officers of Book it Local, Inc., a Nevada corporation (the "Company"), does hereby certify that:
 
The Quarterly Report of Form 10-Q for the quarter ended May 31, 2013 (the "Form 10-Q") of the Company fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934 and information contained in the Form 10-Q fairly presents, in all material respects, the financial condition and results of operations of the Company.
 
 
Date: August 8, 2013
By:
/s/ Joseph McMurry  
    Joseph McMurry  
    Principal Executive Officer  
    and Principal Financial Officer  
EX-101.INS 4 book-20130531.xml XBRL INSTANCE DOCUMENT 0001556416 2013-03-01 2013-05-31 0001556416 2013-05-31 0001556416 2012-09-01 2013-05-31 0001556416 2013-08-08 0001556416 2012-08-31 0001556416 2012-08-12 2013-05-31 0001556416 us-gaap:CommonStockMember 2012-08-12 2013-05-31 0001556416 us-gaap:CommonStockMember 2012-08-11 0001556416 us-gaap:CommonStockMember 2013-05-31 0001556416 us-gaap:AdditionalPaidInCapitalMember 2012-08-12 2013-05-31 0001556416 us-gaap:AdditionalPaidInCapitalMember 2012-08-11 0001556416 us-gaap:AdditionalPaidInCapitalMember 2013-05-31 0001556416 us-gaap:RetainedEarningsMember 2012-08-12 2013-05-31 0001556416 us-gaap:RetainedEarningsMember 2012-08-11 0001556416 us-gaap:RetainedEarningsMember 2013-05-31 0001556416 2012-08-11 iso4217:USD xbrli:shares iso4217:USD xbrli:shares xbrli:pure 2140 10935 0 2140 10935 2140 10935 1060 1060 9875 9875 8795 2140 10935 1060 9875 -8795 2140 10935 0.0001 0.0001 10000000 10000000 0 0 0 0 100000000 100000000 0.0001 0.0001 10597572 10597572 10597572 10597572 10597572 -6295 -8795 -8795 -6295 -8795 -8795 -8795 10597572 10597572 10203082 -8795 -8795 0 10935 0 10935 -8795 2140 10597572 960 960 9975 100 9875 0.350 0.000 0.350 -0.350 0.000 8795 3078 <p style="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">expires in the year 2033</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Book It Local, Inc</b>(&#147;The Company&#148;) was incorporated in the State of Nevada on August 11, 2012 to develop its online booking system to help consumers find and hire live entertainment for weddings, corporate events, private parties, night clubs, grand openings, and other events.&#160;&#160;The Company is in the development stage with no revenues and a limited operating history.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">These financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates, among other things, the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has incurred a cumulative net loss of $8,795 since its inception and requires capital for its contemplated operation and marketing activities to take place. The Company's ability to raise additional capital through the future issuances of common stock is unknown. The obtainment of additional financing, the successful development of the Company's contemplated plan of operations, and its transition, ultimately, to the attainment of profitable operations are necessary for the Company to continue operations. The ability to successfully resolve these factors raise substantial doubt about the Company's ability to continue as a going concern.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Future issuances of the Company's equity or debt securities will be required in order for the Company to continue to finance its operations and continue as a going concern. The Company's present revenues are insufficient to meet operating expenses. The financial statements do not include any adjustments that may result from the outcome of these aforementioned uncertainties.</font></p> <p style="margin: 0pt; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Basis of Presentation</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. The Company&#146;s year-end is August 31.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Interim Financial Statements</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The financial statements of Book it Local, Inc (the &#147;Company&#148;) as of May 31, 2103, and the statements of operations, and cash flows for the period from August 11, 2012 (inception) to May 31, 2013 has been presented in an interim basis.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">However, in the opinion of management, such information includes all adjustments (consisting only of normal recurring adjustments) which are necessary to properly reflect the financial position of the Company as of May 31, 2013, and the results of operations for the period aforementioned.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Certain information and notes normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted, although management believes that the disclosures are adequate to make the information presented not misleading. Interim period results are not necessarily indicative of the results to be achieved for an entire year. These financial statements should be read in conjunction with the annual financial statements and notes to financial statements.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Cash and Cash Equivalents</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company considers all highly liquid investments with original maturity of three months or less to be cash equivalents.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Use of Estimates and Assumptions</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The preparation of financial statements in conformity with generally accepted accounting principles requires that management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Revenue Recognition</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company applies paragraph 605-10-S99-1 of the FASB Accounting Standards Codification for revenue recognition.&#160;&#160;The Company recognizes revenue when it is realized or realizable and earned less estimated future doubtful accounts.&#160;&#160;The Company considers revenue realized or realizable and earned when all of the following criteria are met:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="width: 100%"> <tr style="vertical-align: top"> <td style="width: 48px; font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">(i)&#160;&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">persuasive evidence of an arrangement exists,</font></td></tr> </table> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellspacing="0" cellpadding="0" style="width: 100%"> <tr style="vertical-align: top"> <td style="width: 48px; font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">(ii)&#160;&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">the services have been rendered and all required milestones achieved,</font></td></tr> </table> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"></font></p> <table cellspacing="0" cellpadding="0" style="width: 100%"> <tr style="vertical-align: top"> <td style="width: 48px; font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">(iii)&#160;&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">the sales price is fixed or determinable, and</font></td></tr> </table> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"></font></p> <table cellspacing="0" cellpadding="0" style="width: 100%"> <tr style="vertical-align: top"> <td style="width: 48px; font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">(iv)&#160;&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">collectability is reasonably assured.</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Foreign Currency Translation</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The financial statements are presented in United States dollars. In accordance with ASC 830, &#147;Foreign Currency Matters&#148;, foreign denominated monetary assets and liabilities are translated into their United States dollar equivalents using foreign exchange rates which prevailed at the balance sheet date. Revenue and expenses are translated at average rates of exchange during the year. Gains or losses resulting from foreign currency transactions are included in results of operations.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Stock-Based Compensation</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company accounts for stock-based compensation using the fair value method following the guidance set forth in section 718-10 of the FASB Accounting Standards Codification for disclosure about Stock-Based Compensation. This section requires a public entity to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award (with limited exceptions). That cost will be recognized over the period during which an employee is required to provide service in exchange for the award- the requisite service period (usually the vesting period). No compensation cost is recognized for equity instruments for which employees do not render the requisite service.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Development Stage Company</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company complies with Financial Accounting Standards Codification (&#147;ASC&#148;) 915 and Securities and Exchange Commission Act Guide 7 for its characterization of the Company as a development stage enterprise.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Fair Value for Financial Assets and Financial Liabilities</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification (&#147;Paragraph 820-10-35-37&#148;) to measure the fair value of its financial instruments.&#160;&#160;Paragraph 820-10-35-37 establishes a framework for measuring fair value in accounting principles generally accepted in the United States of America (U.S. GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels.&#160;&#160;The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs.&#160;&#160;The three levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 9%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Level 1</font></td> <td style="width: 91%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Quoted market prices available in active markets for identical assets or liabilities as of the reporting date.</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Level 2</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Level 3</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Pricing inputs that are generally observable inputs and not corroborated by market data.</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The carrying amounts of the Company&#146;s financial assets and liabilities, such as cash, approximate their fair values because of the short maturity of these instruments.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company does not have any assets or liabilities measured at fair value on a recurring or a non-recurring basis, consequently, the Company did not have any fair value adjustments for assets and liabilities measured at fair value at May 31, 2013, nor gains or losses are reported in the statement of operations that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date for the nine months ended May 31, 2013.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Income Taxes</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company follows the accrual method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences). The effect on the deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. At May 31, 2013, a full deferred tax asset valuation allowance has been provided and no deferred tax asset has been recorded.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Basic and Diluted Net Income (Loss) per Share</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company computes net income (loss) per share in accordance with ASC 260, &#34;Earnings per Share&#34; which requires presentation of both basic and diluted earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of common shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period including stock options, using the treasury stock method, and convertible preferred stock, using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential common shares if their effect is anti-dilutive.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Recent Accounting Pronouncements</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company has reviewed all recently issued, but not yet effective, accounting pronouncements up to ASU 2013-07, and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company is in the development stage as of May 31, 2013 and to date has had no significant operations.&#160;&#160;Recovery of the Company&#146;s assets is dependent on future events, the outcome of which is indeterminable. In addition, successful completion of the Company&#146;s development program and its transition, ultimately, to attaining profitable operations is dependent upon obtaining adequate financing to fulfill its development activities and achieving a level of sales adequate to support the Company&#146;s cost structure.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The President of the Company provides management and office premises to the Company for no compensation.</font></p> <p style="margin: 0pt; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In August, 2012, the Company authorized the issue of 100,000,000 common shares of the company at par value of $.0001and authorized the issue of 10,000,000 preferred shares at par value of $.0001.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">During the nine months ended May 31, 2013, the Company did not issue any common stock or preferred stock.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">At May 31, 2013, there are total of 10,597,571 common shares of the Company issued and outstanding.</font></p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Due to the operating loss and the inability to recognize an income tax benefit, there is no provision for current or deferred federal or state income taxes for the period from inception through May 31, 2013.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amount used for federal and state income tax purposes.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company&#146;s total deferred tax asset, calculated using federal and state effective tax rates, as of May 31, is as follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2013</b></font></td> <td nowrap="nowrap"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 89%"><font style="font: 10pt Times New Roman, Times, Serif">Total Deferred Tax Asset</font></td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 8%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(3,078</font></td> <td nowrap="nowrap" style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Valuation Allowance</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1.5pt solid"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,078</font></td> <td nowrap="nowrap"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Net Deferred Tax Asset</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td nowrap="nowrap"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The reconciliation of income taxes computed at the federal statutory income tax rate to total income taxes for the nine months ended May 31, 2013 is as follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2013</b></font></td> <td nowrap="nowrap"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 89%"><font style="font: 10pt Times New Roman, Times, Serif">Income tax computed at the federal statutory rate</font></td> <td style="width: 1%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 8%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">35.0</font></td> <td nowrap="nowrap" style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">State income tax, net of federal tax benefit</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1.5pt solid"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0.0</font></td> <td nowrap="nowrap"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-indent: 27pt"><font style="font: 10pt Times New Roman, Times, Serif">Total</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">35.0</font></td> <td nowrap="nowrap"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Valuation allowance</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-35.0</font></td> <td nowrap="nowrap"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Total deferred tax asset</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0.0</font></td> <td nowrap="nowrap"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Because of the Company&#146;s lack of earnings history, the deferred tax asset has been fully offset by a valuation allowance.&#160;&#160;The valuation allowance increased by approximately $3,078 during the nine months ended May 31, 2013.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">As of May 31, 2013, the Company had a federal and state net operating loss carry forward in the amount of approximately $8,795 which expires in the year 2033.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Supplemental disclosures of cash flow information for the nine months ended May 31, 2013 is summarized as follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Cash paid during the nine months ended May 31, 2013 for interest and income taxes is as follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2013</b></font></td> <td nowrap="nowrap"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 89%"><font style="font: 10pt Times New Roman, Times, Serif">Interest</font></td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 8%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td nowrap="nowrap" style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Taxes</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td nowrap="nowrap"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="margin: 0pt; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In accordance with&#160;<i>ASC 855, Subsequent Events</i>, the Company has evaluated subsequent events through August 8, 2013, the date of available issuance of these financial statements. During this period, the Company did not have any material recognizable subsequent events.</font></p> <p style="margin: 0pt; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. The Company&#146;s year-end is August 31.</font></p> <p style="margin: 0pt; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The financial statements of Book it Local, Inc (the &#147;Company&#148;) as of May 31, 2103, and the statements of operations, and cash flows for the period from August 11, 2012 (inception) to May 31, 2013 has been presented in an interim basis.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">However, in the opinion of management, such information includes all adjustments (consisting only of normal recurring adjustments) which are necessary to properly reflect the financial position of the Company as of May 31, 2013, and the results of operations for the period aforementioned.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Certain information and notes normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted, although management believes that the disclosures are adequate to make the information presented not misleading. Interim period results are not necessarily indicative of the results to be achieved for an entire year. These financial statements should be read in conjunction with the annual financial statements and notes to financial statements.</font></p> <p style="margin: 0pt; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company considers all highly liquid investments with original maturity of three months or less to be cash equivalents.</font></p> <p style="margin: 0pt; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The preparation of financial statements in conformity with generally accepted accounting principles requires that management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company applies paragraph 605-10-S99-1 of the FASB Accounting Standards Codification for revenue recognition.&#160;&#160;The Company recognizes revenue when it is realized or realizable and earned less estimated future doubtful accounts.&#160;&#160;The Company considers revenue realized or realizable and earned when all of the following criteria are met:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="width: 100%"> <tr style="vertical-align: top"> <td style="width: 48px; font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">(i)&#160;&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">persuasive evidence of an arrangement exists,</font></td></tr> </table> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellspacing="0" cellpadding="0" style="width: 100%"> <tr style="vertical-align: top"> <td style="width: 48px; font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">(ii)&#160;&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">the services have been rendered and all required milestones achieved,</font></td></tr> </table> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellspacing="0" cellpadding="0" style="width: 100%"> <tr style="vertical-align: top"> <td style="width: 48px; font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">(iii)&#160;&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">the sales price is fixed or determinable, and</font></td></tr> </table> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellspacing="0" cellpadding="0" style="width: 100%"> <tr style="vertical-align: top"> <td style="width: 48px; font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">(iv)&#160;&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">collectability is reasonably assured.</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="margin: 0pt; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The financial statements are presented in United States dollars. In accordance with ASC 830, &#147;Foreign Currency Matters&#148;, foreign denominated monetary assets and liabilities are translated into their United States dollar equivalents using foreign exchange rates which prevailed at the balance sheet date. Revenue and expenses are translated at average rates of exchange during the year. Gains or losses resulting from foreign currency transactions are included in results of operations.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company accounts for stock-based compensation using the fair value method following the guidance set forth in section 718-10 of the FASB Accounting Standards Codification for disclosure about Stock-Based Compensation. This section requires a public entity to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award (with limited exceptions). That cost will be recognized over the period during which an employee is required to provide service in exchange for the award- the requisite service period (usually the vesting period). No compensation cost is recognized for equity instruments for which employees do not render the requisite service.</font></p> <p style="margin: 0pt; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company complies with Financial Accounting Standards Codification (&#147;ASC&#148;) 915 and Securities and Exchange Commission Act Guide 7 for its characterization of the Company as a development stage enterprise.</font></p> <p style="margin: 0pt; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification (&#147;Paragraph 820-10-35-37&#148;) to measure the fair value of its financial instruments.&#160;&#160;Paragraph 820-10-35-37 establishes a framework for measuring fair value in accounting principles generally accepted in the United States of America (U.S. GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels.&#160;&#160;The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs.&#160;&#160;The three levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 9%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Level 1</font></td> <td style="width: 91%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Quoted market prices available in active markets for identical assets or liabilities as of the reporting date.</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Level 2</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Level 3</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Pricing inputs that are generally observable inputs and not corroborated by market data.</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The carrying amounts of the Company&#146;s financial assets and liabilities, such as cash, approximate their fair values because of the short maturity of these instruments.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company does not have any assets or liabilities measured at fair value on a recurring or a non-recurring basis, consequently, the Company did not have any fair value adjustments for assets and liabilities measured at fair value at May 31, 2013, nor gains or losses are reported in the statement of operations that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date for the nine months ended May 31, 2013.</font></p> <p style="margin: 0pt; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company follows the accrual method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences). The effect on the deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. At May 31, 2013, a full deferred tax asset valuation allowance has been provided and no deferred tax asset has been recorded.</font></p> <p style="margin: 0pt; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company computes net income (loss) per share in accordance with ASC 260, &#34;Earnings per Share&#34; which requires presentation of both basic and diluted earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of common shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period including stock options, using the treasury stock method, and convertible preferred stock, using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential common shares if their effect is anti-dilutive.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company has reviewed all recently issued, but not yet effective, accounting pronouncements up to ASU 2013-07, and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company&#146;s total deferred tax asset, calculated using federal and state effective tax rates, as of May 31, is as follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2013</b></font></td> <td nowrap="nowrap"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 89%"><font style="font: 10pt Times New Roman, Times, Serif">Total Deferred Tax Asset</font></td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 8%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(3,078</font></td> <td nowrap="nowrap" style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Valuation Allowance</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1.5pt solid"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,078</font></td> <td nowrap="nowrap"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Net Deferred Tax Asset</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td nowrap="nowrap"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The reconciliation of income taxes computed at the federal statutory income tax rate to total income taxes for the nine months ended May 31, 2013 is as follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2013</b></font></td> <td nowrap="nowrap"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 89%"><font style="font: 10pt Times New Roman, Times, Serif">Income tax computed at the federal statutory rate</font></td> <td style="width: 1%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 8%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">35.0</font></td> <td nowrap="nowrap" style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">State income tax, net of federal tax benefit</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1.5pt solid"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0.0</font></td> <td nowrap="nowrap"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-indent: 27pt"><font style="font: 10pt Times New Roman, Times, Serif">Total</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">35.0</font></td> <td nowrap="nowrap"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Valuation allowance</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-35.0</font></td> <td nowrap="nowrap"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 10pt Times New Roman, Times, Serif">Total deferred tax asset</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 2.25pt double"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0.0</font></td> <td nowrap="nowrap"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Cash paid during the nine months ended May 31, 2013 for interest and income taxes is as follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2013</b></font></td> <td nowrap="nowrap"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 89%"><font style="font: 10pt Times New Roman, Times, Serif">Interest</font></td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 8%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td nowrap="nowrap" style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Taxes</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td nowrap="nowrap"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> Book It Local Inc 0001556416 10-Q 2013-05-31 false --08-31 No No Yes Smaller Reporting Company Q3 2013 9600072 997500 EX-101.SCH 5 book-20130531.xsd XBRL TAXONOMY EXTENSION SCHEMA 0001 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 0002 - Statement - Balance Sheet (Unaudited) link:presentationLink link:calculationLink link:definitionLink 0003 - Statement - Balance Sheet (Unaudited) (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 0004 - Statement - Statements of Operations (Unaudited) link:presentationLink link:calculationLink link:definitionLink 0005 - Statement - Shareholders Equity link:presentationLink link:calculationLink link:definitionLink 0006 - Statement - Statements of Cash Flow (Unaudited) link:presentationLink link:calculationLink link:definitionLink 0007 - Disclosure - NATURE OF OPERATIONS link:presentationLink link:calculationLink link:definitionLink 0008 - Disclosure - GOING CONCERN CONSIDERATION link:presentationLink link:calculationLink link:definitionLink 0009 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES link:presentationLink link:calculationLink link:definitionLink 0010 - Disclosure - DEVELOPMENT STAGE COMPANY link:presentationLink link:calculationLink link:definitionLink 0011 - Disclosure - RELATED PARTY TRANSACTIONS link:presentationLink link:calculationLink link:definitionLink 0012 - Disclosure - STOCKHOLDERS' EQUITY link:presentationLink link:calculationLink link:definitionLink 0013 - Disclosure - INCOME TAXES link:presentationLink link:calculationLink link:definitionLink 0014 - Disclosure - SUPPLEMENTAL CASH FLOW INFORMATION link:presentationLink link:calculationLink link:definitionLink 0015 - Disclosure - SUBSEQUENT EVENTS link:presentationLink link:calculationLink link:definitionLink 0016 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) link:presentationLink link:calculationLink link:definitionLink 0017 - Disclosure - INCOME TAXES (Tables) link:presentationLink link:calculationLink link:definitionLink 0018 - Disclosure - SUPPLEMENTAL CASH FLOW INFORMATION (Tables) link:presentationLink link:calculationLink link:definitionLink 0019 - Disclosure - NATURE OF OPERATIONS (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 0020 - Disclosure - GOING CONCERN CONSIDERATION (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 0021 - Disclosure - STOCKHOLDERS' EQUITY (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 0022 - Disclosure - INCOME TAXES (Details1) link:presentationLink link:calculationLink link:definitionLink 0023 - Disclosure - INCOME TAXES (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 0024 - Disclosure - SUPPLEMENTAL CASH FLOW INFORMATION (Details) link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 6 book-20130531_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE EX-101.DEF 7 book-20130531_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE EX-101.LAB 8 book-20130531_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE Common Stock Equity Components [Axis] Additional Paid-In Capital Deficit Accumulated & During Development Stage Document And Entity Information Entity Registrant Name Entity Central Index Key Document Type Document Period End Date Amendment Flag Current Fiscal Year End Date Is Entity a Well-known Seasoned Issuer? Is Entity a Voluntary Filer? Is Entity's Reporting Status Current? Entity Filer Category Entity Common Stock, Shares Outstanding Document Fiscal Period Focus Document Fiscal Year Focus Balance Sheet ASSETS Current Assets Cash Other current assets Total Current Assets TOTAL ASSETS LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT) Current Liabilities Officer advances Total Current Liabilities Total Liabilities Stockholders' Equity (Deficit) Preferred stock ($0.0001 par value; 10,000,000 authorized no shares issued and outstanding) Common stock, ($0.0001 par value, 100,000,000 shares authorized;10,597,571 shares issued and outstanding) Additional paid-in capital Deficit accumulated during development stage Total Stockholders' Equity (Deficit) TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT) Balance Sheet Parenthetical Preferred stock par value Preferred stock shares authorized Preferred stock shares issued Preferred stock shares outstanding Common stock par value Common stock shares authorized Common stock shares issued Common stock shares outstanding Statements Of Operations Revenues Revenues Total Revenues Operating Costs Professional Fees Taxes and licenses Total Operating Costs Net Income (Loss) Basic earnings per share Weighted average number of common shares outstanding Statement [Table] Statement [Line Items] Balance August 11, 2012 (Inception), Amount Balance August 11, 2012 (Inception), Shares Stock issued for cash on 8/21/2012 @ .0001, Amount Stock issued for cash on 8/21/2012 @ .0001, Shares Stock issued for cash on 8/31/2012 @ .01, Amount Stock issued for cash on 8/31/2012 @ .01, Shares Net Income (Loss), for the period Balance, May 31, 2013, Amount Balance, May 31, 2013, Shares Statements Of Cash Flow CASH FLOWS FROM OPERATING ACTIVITIES Net income (loss) Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Increase in other current asset Changes in operating assets and liabilities: Increase (decrease) in accrued expenses Net cash provided by (used in) operating activities CASH FLOWS FROM INVESTING ACTIVITIES Net cash provided by (used in) investing activities CASH FLOWS FROM FINANCING ACTIVITIES Increase (decrease) in officer advances Issuance of common stock Net cash provided by (used in) financing activities Net increase (decrease) in cash Cash at beginning of period Cash at end of period SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION Cash paid during year for: Interest Cash paid during year for: Income Taxes Notes to Financial Statements Note 1 - NATURE OF OPERATIONS Note 2 - GOING CONCERN CONSIDERATION Note 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Note 4 - DEVELOPMENT STAGE COMPANY Note 5 - RELATED PARTY TRANSACTIONS Note 6 - STOCKHOLDERS' EQUITY Note 7 - INCOME TAXES Note 8 - SUPPLEMENTAL CASH FLOW INFORMATION Note 9 - SUBSEQUENT EVENTS Summary Of Significant Accounting Policies Policies Basis of Presentation Interim Financial Statements Cash and Cash Equivalents Use of Estimates and Assumptions Revenue Recognition Foreign Currency Translation Stock-Based Compensation Development Stage Company Fair Value for Financial Assets and Financial Liabilities Income Taxes Basic and Diluted Net Income (Loss) per Share Recent Accounting Pronouncements Deferred tax asset, calculated using federal and state effective tax rates The reconciliation of income taxes computed at the federal statutory income tax rate to total income taxes Cash paid during the month for interest and income taxes Nature Of Operations Details Narrative Revenues Going Concern Consideration Details Narrative Stockholders Equity Details Narrative Income Taxes Details1 Income tax computed at the federal statutory rate State income tax, net of federal tax benefit Total Valuation allowance Total deferred tax asset Income Taxes Details Narrative Federal and state net operating loss carry forward Valuation allowance increased Federal and state net operating loss carry forward expires Supplemental Cash Flow Information Details Interest Taxes Stock issued for cash on  8/31/2012 @.01, Amount. Stock issued for cash on  8/31/2012 @.01, Shares. Federal and state net operating loss carry forward expires. Interim financial statements policies. Development stage company. Assets, Current Assets Liabilities, Current Liabilities Development Stage Enterprise, Deficit Accumulated During Development Stage Stockholders' Equity Attributable to Parent Liabilities and Equity Revenue, Net Revenues [Default Label] Operating Costs and Expenses Net Cash Provided by (Used in) Operating Activities Net Cash Provided by (Used in) Financing Activities EX-101.PRE 9 book-20130531_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE XML 10 R8.xml IDEA: GOING CONCERN CONSIDERATION 2.4.0.80008 - Disclosure - GOING CONCERN CONSIDERATIONtruefalsefalse1false falsefalseFrom2012-09-01to2013-05-31http://www.sec.gov/CIK0001556416duration2012-09-01T00:00:002013-05-31T00:00:001true 1BOOK_NotesToFinancialStatementsAbstractBOOK_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse02false 2us-gaap_LiquidityDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">These financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates, among other things, the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has incurred a cumulative net loss of $8,795 since its inception and requires capital for its contemplated operation and marketing activities to take place. The Company's ability to raise additional capital through the future issuances of common stock is unknown. The obtainment of additional financing, the successful development of the Company's contemplated plan of operations, and its transition, ultimately, to the attainment of profitable operations are necessary for the Company to continue operations. The ability to successfully resolve these factors raise substantial doubt about the Company's ability to continue as a going concern.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Future issuances of the Company's equity or debt securities will be required in order for the Company to continue to finance its operations and continue as a going concern. The Company's present revenues are insufficient to meet operating expenses. The financial statements do not include any adjustments that may result from the outcome of these aforementioned uncertainties.</font></p>falsefalsefalsenonnum:textBlockItemTypenaDisclosure of accounting policy for reporting when there is a substantial doubt about an entity's ability to continue as a going concern for a reasonable period of time (generally a year from the balance sheet date). Disclose: (a) pertinent conditions and events giving rise to the assessment of substantial doubt about the entity's ability to continue as a going concern for a reasonable period of time, (b) the possible effects of such conditions and events, (c) management's evaluation of the significance of those conditions and events and any mitigating factors, (d) possible discontinuance of operations, (e) management's plans (including relevant prospective financial information), and (f) information about the recoverability or classification of recorded asset amounts or the amounts or classification of liabilities. If management's plans alleviate the substantial doubt about the entity's ability to continue as a going concern, disclosure of the principal conditions and events that initially raised the substantial doubt about the entity's ability to continue as a going concern would be expected to be considered. Disclose whether operations for the current or prior years generated sufficient cash to cover current obligations, whether waivers were obtained from creditors relating to the company's default under the provisions of debt agreements and possible effects of such conditions and events, such as: whether there is a possible need to obtain additional financing (debt or equity) or to liquidate certain holdings to offset future cash flow deficiencies. Disclose appropriate parent company information when parent is dependent upon remittances from subsidiaries to satisfy its obligations.No definition available.false0falseGOING CONCERN CONSIDERATIONUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://book.com/role/GoingConcernConsideration12 XML 11 R6.xml IDEA: Statements of Cash Flow (Unaudited) 2.4.0.80006 - Statement - Statements of Cash Flow (Unaudited)truefalsefalse1false USDfalsefalse$From2012-09-01to2013-05-31http://www.sec.gov/CIK0001556416duration2012-09-01T00:00:002013-05-31T00:00:00USDStandardhttp://www.xbrl.org/2003/iso4217USDiso42170USDUSD$2false USDfalsefalse$From2012-08-12to2013-05-31http://www.sec.gov/CIK0001556416duration2012-08-12T00:00:002013-05-31T00:00:00USDStandardhttp://www.xbrl.org/2003/iso4217USDiso42170USDUSD$1true 2us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalse2falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse02false 3us-gaap_NetIncomeLossus-gaap_truecreditdurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabel1truefalsefalse-8795-8795USD$falsetruefalse2truefalsefalse-8795-8795USD$falsetruefalsexbrli:monetaryItemTypemonetaryThe portion of profit or loss for the period, net of income taxes, which is attributable to the parent.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28, 29, 30 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.18) -URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 20 -Article 9 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04.22) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 130 -Paragraph 10, 15 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e565-108580 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 19 -Article 5 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Other Comprehensive Income -URI http://asc.fasb.org/extlink&oid=6519514 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Net Income -URI http://asc.fasb.org/extlink&oid=6518256 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph a -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph A7 -Appendix A Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph d -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04.19) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913 Reference 16: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Emerging Issues Task Force (EITF) -Number 87-21 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. false23true 2us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalse2falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse04false 3us-gaap_IncreaseDecreaseInOtherCurrentAssetsus-gaap_truecreditdurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00&nbsp;&nbsp;falsefalsefalse2falsefalsefalse00&nbsp;&nbsp;falsefalsefalsexbrli:monetaryItemTypemonetaryThe increase (decrease) during the reporting period in other current operating assets not separately disclosed in the statement of cash flows.No definition available.false25true 2us-gaap_IncreaseDecreaseInOperatingCapitalAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalse2falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse06false 3us-gaap_IncreaseDecreaseInAccruedLiabilitiesus-gaap_truedebitdurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00&nbsp;&nbsp;falsefalsefalse2falsefalsefalse00&nbsp;&nbsp;falsefalsefalsexbrli:monetaryItemTypemonetaryThe increase (decrease) during the reporting period in the aggregate amount of expenses incurred but not yet paid.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585 false27false 3us-gaap_NetCashProvidedByUsedInOperatingActivitiesus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalsetotalLabel1truefalsefalse-8795-8795falsefalsefalse2truefalsefalse-8795-8795falsefalsefalsexbrli:monetaryItemTypemonetaryThe net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 24 -URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3521-108585 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 26 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3536-108585 true28true 2us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalse2falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse09false 3us-gaap_NetCashProvidedByUsedInInvestingActivitiesus-gaap_truedebitdurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00&nbsp;&nbsp;falsefalsefalse2falsefalsefalse00&nbsp;&nbsp;falsefalsefalsexbrli:monetaryItemTypemonetaryThe net cash inflow or outflow from investing activity.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 24 -URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3521-108585 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3574-108585 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 26 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. false210true 2us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalse2falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse011false 3us-gaap_IncreaseDecreaseInDueToOfficersAndStockholdersus-gaap_truedebitdurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00&nbsp;&nbsp;falsefalsefalse2falsefalsefalse00&nbsp;&nbsp;falsefalsefalsexbrli:monetaryItemTypemonetaryThe increase (decrease), during an accounting period, in total obligations owed to the reporting entity's executives and owners.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585 false212false 3us-gaap_ProceedsFromIssuanceOfCommonStockus-gaap_truedebitdurationfalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse00falsefalsefalse2truefalsefalse1093510935falsefalsefalsexbrli:monetaryItemTypemonetaryThe cash inflow from the additional capital contribution to the entity.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Financing Activities -URI http://asc.fasb.org/extlink&oid=6513228 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 18 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 14 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3255-108585 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 19 -Subparagraph a -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. false213false 3us-gaap_NetCashProvidedByUsedInFinancingActivitiesus-gaap_truedebitdurationfalsefalsefalsefalsefalsefalsefalsefalsetotalLabel1truefalsefalse00falsefalsefalse2truefalsefalse1093510935falsefalsefalsexbrli:monetaryItemTypemonetaryThe net cash inflow or outflow from financing activity for the period.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 24 -URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3521-108585 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3574-108585 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 26 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. true214false 2us-gaap_CashPeriodIncreaseDecreaseus-gaap_truedebitdurationfalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse-8795-8795falsefalsefalse2truefalsefalse21402140falsefalsefalsexbrli:monetaryItemTypemonetaryAmount of increase (decrease) in cash. Cash is the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation.No definition available.false215false 2us-gaap_Cashus-gaap_truedebitinstantfalsefalsefalsefalsefalsetruefalsefalseperiodStartLabel1truefalsefalse1093510935falsefalsefalse2truefalsefalse00falsefalsefalsexbrli:monetaryItemTypemonetaryAmount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Cash -URI http://asc.fasb.org/extlink&oid=6506951 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.1) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 7 -Footnote 1 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 1 -Article 5 false216false 2us-gaap_Cashus-gaap_truedebitinstantfalsefalsefalsefalsefalsefalsetruefalseperiodEndLabel1truefalsefalse21402140falsefalsefalse2truefalsefalse21402140falsefalsefalsexbrli:monetaryItemTypemonetaryAmount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Cash -URI http://asc.fasb.org/extlink&oid=6506951 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.1) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 7 -Footnote 1 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 1 -Article 5 false217true 2us-gaap_SupplementalCashFlowInformationAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalse2falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse018false 3us-gaap_InterestPaidus-gaap_truecreditdurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00&nbsp;&nbsp;falsefalsefalse2falsefalsefalse00&nbsp;&nbsp;falsefalsefalsexbrli:monetaryItemTypemonetaryThe amount of cash paid for interest during the period.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4297-108586 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 29 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 25 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3536-108585 false219false 3us-gaap_IncomeTaxesPaidus-gaap_truecreditdurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00&nbsp;&nbsp;falsefalsefalse2falsefalsefalse00&nbsp;&nbsp;falsefalsefalsexbrli:monetaryItemTypemonetaryThe amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4297-108586 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 29 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 27 -Subparagraph f -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 25 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3536-108585 false2falseStatements of Cash Flow (Unaudited) (USD $)NoRoundingUnKnownUnKnownUnKnowntruefalsefalseSheethttp://book.com/role/StatementsOfCashFlow219 XML 12 R17.htm IDEA: XBRL DOCUMENT v2.4.0.8
INCOME TAXES (Tables)
9 Months Ended
May 31, 2013
Notes to Financial Statements  
Deferred tax asset, calculated using federal and state effective tax rates

The Company’s total deferred tax asset, calculated using federal and state effective tax rates, as of May 31, is as follows:

                                                                                       

    2013  
Total Deferred Tax Asset   $ (3,078 )
Valuation Allowance     3,078  
Net Deferred Tax Asset   $ -  
The reconciliation of income taxes computed at the federal statutory income tax rate to total income taxes

The reconciliation of income taxes computed at the federal statutory income tax rate to total income taxes for the nine months ended May 31, 2013 is as follows:

 

    2013  
Income tax computed at the federal statutory rate     35.0 %
State income tax, net of federal tax benefit     0.0 %
Total     35.0 %
Valuation allowance     -35.0 %
Total deferred tax asset     0.0 %
XML 13 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Statements of Operations (Unaudited) (USD $)
3 Months Ended 9 Months Ended 10 Months Ended
May 31, 2013
May 31, 2013
May 31, 2013
Revenues      
Revenues         
Total Revenues         
Operating Costs      
Professional Fees (6,295) (8,795) (8,795)
Taxes and licenses         
Total Operating Costs         
Net Income (Loss) $ (6,295) $ (8,795) $ (8,795)
Basic earnings per share         
Weighted average number of common shares outstanding 10,597,572 10,597,572 10,203,082
XML 14 R10.htm IDEA: XBRL DOCUMENT v2.4.0.8
DEVELOPMENT STAGE COMPANY
9 Months Ended
May 31, 2013
Notes to Financial Statements  
Note 4 - DEVELOPMENT STAGE COMPANY

The Company is in the development stage as of May 31, 2013 and to date has had no significant operations.  Recovery of the Company’s assets is dependent on future events, the outcome of which is indeterminable. In addition, successful completion of the Company’s development program and its transition, ultimately, to attaining profitable operations is dependent upon obtaining adequate financing to fulfill its development activities and achieving a level of sales adequate to support the Company’s cost structure.

XML 15 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.4.0.3 * */ var Show = {}; Show.LastAR = null, Show.hideAR = function(){ Show.LastAR.style.display = 'none'; }; Show.showAR = function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }; Show.toggleNext = function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }; XML 16 R24.htm IDEA: XBRL DOCUMENT v2.4.0.8
SUPPLEMENTAL CASH FLOW INFORMATION (Details) (USD $)
9 Months Ended 10 Months Ended
May 31, 2013
May 31, 2013
Supplemental Cash Flow Information Details    
Interest      
Taxes     
XML 17 R18.htm IDEA: XBRL DOCUMENT v2.4.0.8
SUPPLEMENTAL CASH FLOW INFORMATION (Tables)
9 Months Ended
May 31, 2013
Notes to Financial Statements  
Cash paid during the month for interest and income taxes

Cash paid during the nine months ended May 31, 2013 for interest and income taxes is as follows:

 

    2013  
Interest   $ -  
Taxes   $ -  
XML 18 R19.xml IDEA: NATURE OF OPERATIONS (Details Narrative) 2.4.0.80019 - Disclosure - NATURE OF OPERATIONS (Details Narrative)truefalsefalse1false USDfalsefalse$From2013-03-01to2013-05-31http://www.sec.gov/CIK0001556416duration2013-03-01T00:00:002013-05-31T00:00:00USDStandardhttp://www.xbrl.org/2003/iso4217USDiso42170USDUSD$2false USDfalsefalse$From2012-09-01to2013-05-31http://www.sec.gov/CIK0001556416duration2012-09-01T00:00:002013-05-31T00:00:00USDStandardhttp://www.xbrl.org/2003/iso4217USDiso42170USDUSD$3false USDfalsefalse$From2012-08-12to2013-05-31http://www.sec.gov/CIK0001556416duration2012-08-12T00:00:002013-05-31T00:00:00USDStandardhttp://www.xbrl.org/2003/iso4217USDiso42170USDUSD$1true 1BOOK_NatureOfOperationsDetailsNarrativeAbstractBOOK_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalse2falsefalsefalse00falsefalsefalse3falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse02false 2us-gaap_Revenuesus-gaap_truecreditdurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabel1falsefalsefalse00&nbsp;&nbsp;falsefalsefalse2falsefalsefalse00&nbsp;&nbsp;falsefalsefalse3falsefalsefalse00&nbsp;&nbsp;falsefalsefalsexbrli:monetaryItemTypemonetaryAggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 1 -Article 5 false2falseNATURE OF OPERATIONS (Details Narrative) (USD $)UnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://book.com/role/NatureOfOperationsDetailsNarrative32 XML 19 R9.xml IDEA: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 2.4.0.80009 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIEStruefalsefalse1false falsefalseFrom2012-09-01to2013-05-31http://www.sec.gov/CIK0001556416duration2012-09-01T00:00:002013-05-31T00:00:001true 1BOOK_NotesToFinancialStatementsAbstractBOOK_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse02false 2us-gaap_SignificantAccountingPoliciesTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<p style="margin: 0pt; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Basis of Presentation</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. The Company&#146;s year-end is August 31.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Interim Financial Statements</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The financial statements of Book it Local, Inc (the &#147;Company&#148;) as of May 31, 2103, and the statements of operations, and cash flows for the period from August 11, 2012 (inception) to May 31, 2013 has been presented in an interim basis.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">However, in the opinion of management, such information includes all adjustments (consisting only of normal recurring adjustments) which are necessary to properly reflect the financial position of the Company as of May 31, 2013, and the results of operations for the period aforementioned.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Certain information and notes normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted, although management believes that the disclosures are adequate to make the information presented not misleading. Interim period results are not necessarily indicative of the results to be achieved for an entire year. These financial statements should be read in conjunction with the annual financial statements and notes to financial statements.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Cash and Cash Equivalents</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company considers all highly liquid investments with original maturity of three months or less to be cash equivalents.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Use of Estimates and Assumptions</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The preparation of financial statements in conformity with generally accepted accounting principles requires that management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Revenue Recognition</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company applies paragraph 605-10-S99-1 of the FASB Accounting Standards Codification for revenue recognition.&#160;&#160;The Company recognizes revenue when it is realized or realizable and earned less estimated future doubtful accounts.&#160;&#160;The Company considers revenue realized or realizable and earned when all of the following criteria are met:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="width: 100%"> <tr style="vertical-align: top"> <td style="width: 48px; font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">(i)&#160;&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">persuasive evidence of an arrangement exists,</font></td></tr> </table> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellspacing="0" cellpadding="0" style="width: 100%"> <tr style="vertical-align: top"> <td style="width: 48px; font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">(ii)&#160;&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">the services have been rendered and all required milestones achieved,</font></td></tr> </table> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"></font></p> <table cellspacing="0" cellpadding="0" style="width: 100%"> <tr style="vertical-align: top"> <td style="width: 48px; font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">(iii)&#160;&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">the sales price is fixed or determinable, and</font></td></tr> </table> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"></font></p> <table cellspacing="0" cellpadding="0" style="width: 100%"> <tr style="vertical-align: top"> <td style="width: 48px; font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">(iv)&#160;&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">collectability is reasonably assured.</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Foreign Currency Translation</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The financial statements are presented in United States dollars. In accordance with ASC 830, &#147;Foreign Currency Matters&#148;, foreign denominated monetary assets and liabilities are translated into their United States dollar equivalents using foreign exchange rates which prevailed at the balance sheet date. Revenue and expenses are translated at average rates of exchange during the year. Gains or losses resulting from foreign currency transactions are included in results of operations.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Stock-Based Compensation</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company accounts for stock-based compensation using the fair value method following the guidance set forth in section 718-10 of the FASB Accounting Standards Codification for disclosure about Stock-Based Compensation. This section requires a public entity to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award (with limited exceptions). That cost will be recognized over the period during which an employee is required to provide service in exchange for the award- the requisite service period (usually the vesting period). No compensation cost is recognized for equity instruments for which employees do not render the requisite service.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Development Stage Company</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company complies with Financial Accounting Standards Codification (&#147;ASC&#148;) 915 and Securities and Exchange Commission Act Guide 7 for its characterization of the Company as a development stage enterprise.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Fair Value for Financial Assets and Financial Liabilities</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification (&#147;Paragraph 820-10-35-37&#148;) to measure the fair value of its financial instruments.&#160;&#160;Paragraph 820-10-35-37 establishes a framework for measuring fair value in accounting principles generally accepted in the United States of America (U.S. GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels.&#160;&#160;The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs.&#160;&#160;The three levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 9%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Level 1</font></td> <td style="width: 91%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Quoted market prices available in active markets for identical assets or liabilities as of the reporting date.</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Level 2</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Level 3</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Pricing inputs that are generally observable inputs and not corroborated by market data.</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The carrying amounts of the Company&#146;s financial assets and liabilities, such as cash, approximate their fair values because of the short maturity of these instruments.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company does not have any assets or liabilities measured at fair value on a recurring or a non-recurring basis, consequently, the Company did not have any fair value adjustments for assets and liabilities measured at fair value at May 31, 2013, nor gains or losses are reported in the statement of operations that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date for the nine months ended May 31, 2013.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Income Taxes</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company follows the accrual method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences). The effect on the deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. At May 31, 2013, a full deferred tax asset valuation allowance has been provided and no deferred tax asset has been recorded.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Basic and Diluted Net Income (Loss) per Share</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company computes net income (loss) per share in accordance with ASC 260, &#34;Earnings per Share&#34; which requires presentation of both basic and diluted earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of common shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period including stock options, using the treasury stock method, and convertible preferred stock, using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential common shares if their effect is anti-dilutive.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Recent Accounting Pronouncements</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company has reviewed all recently issued, but not yet effective, accounting pronouncements up to ASU 2013-07, and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.</font></p>falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for all significant accounting policies of the reporting entity.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18780-107790 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18726-107790 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 22 -Paragraph 8 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18861-107790 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18743-107790 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18854-107790 false0falseSUMMARY OF SIGNIFICANT ACCOUNTING POLICIESUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://book.com/role/SummaryOfSignificantAccountingPolicies12 XML 20 R12.xml IDEA: STOCKHOLDERS' EQUITY 2.4.0.80012 - Disclosure - STOCKHOLDERS' EQUITYtruefalsefalse1false falsefalseFrom2012-09-01to2013-05-31http://www.sec.gov/CIK0001556416duration2012-09-01T00:00:002013-05-31T00:00:001true 1BOOK_NotesToFinancialStatementsAbstractBOOK_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse02false 2us-gaap_StockholdersEquityNoteDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<p style="margin: 0pt; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In August, 2012, the Company authorized the issue of 100,000,000 common shares of the company at par value of $.0001and authorized the issue of 10,000,000 preferred shares at par value of $.0001.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">During the nine months ended May 31, 2013, the Company did not issue any common stock or preferred stock.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">At May 31, 2013, there are total of 10,597,571 common shares of the Company issued and outstanding.</font></p>falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Article 4 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 43 -Section B -Paragraph 7, 11A -Chapter 1 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 5 -Paragraph 15 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=6228006&loc=d3e74512-122707 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Preferred Stock -URI http://asc.fasb.org/extlink&oid=6521494 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB TOPIC 4.C) -URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187143-122770 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(d),(e)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 129 -Paragraph 2, 3, 4, 5, 6, 7, 8 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section C Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29-31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 12 -Paragraph 10 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 16: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 Reference 17: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644 Reference 18: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770 Reference 19: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644 Reference 20: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 21: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 Reference 22: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 23: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph d -Article 4 false0falseSTOCKHOLDERS' EQUITYUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://book.com/role/StockholdersEquity12 XML 21 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Statements of Cash Flow (Unaudited) (USD $)
9 Months Ended 10 Months Ended
May 31, 2013
May 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ (8,795) $ (8,795)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Increase in other current asset      
Changes in operating assets and liabilities:    
Increase (decrease) in accrued expenses      
Net cash provided by (used in) operating activities (8,795) (8,795)
CASH FLOWS FROM INVESTING ACTIVITIES    
Net cash provided by (used in) investing activities      
CASH FLOWS FROM FINANCING ACTIVITIES    
Increase (decrease) in officer advances      
Issuance of common stock 0 10,935
Net cash provided by (used in) financing activities 0 10,935
Net increase (decrease) in cash (8,795) 2,140
Cash at beginning of period 10,935 0
Cash at end of period 2,140 2,140
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid during year for: Interest      
Cash paid during year for: Income Taxes      
XML 22 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
GOING CONCERN CONSIDERATION
9 Months Ended
May 31, 2013
Notes to Financial Statements  
Note 2 - GOING CONCERN CONSIDERATION

These financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates, among other things, the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has incurred a cumulative net loss of $8,795 since its inception and requires capital for its contemplated operation and marketing activities to take place. The Company's ability to raise additional capital through the future issuances of common stock is unknown. The obtainment of additional financing, the successful development of the Company's contemplated plan of operations, and its transition, ultimately, to the attainment of profitable operations are necessary for the Company to continue operations. The ability to successfully resolve these factors raise substantial doubt about the Company's ability to continue as a going concern.

 

Future issuances of the Company's equity or debt securities will be required in order for the Company to continue to finance its operations and continue as a going concern. The Company's present revenues are insufficient to meet operating expenses. The financial statements do not include any adjustments that may result from the outcome of these aforementioned uncertainties.

XML 23 R11.xml IDEA: RELATED PARTY TRANSACTIONS 2.4.0.80011 - Disclosure - RELATED PARTY TRANSACTIONStruefalsefalse1false falsefalseFrom2012-09-01to2013-05-31http://www.sec.gov/CIK0001556416duration2012-09-01T00:00:002013-05-31T00:00:001true 1BOOK_NotesToFinancialStatementsAbstractBOOK_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse02false 2us-gaap_RelatedPartyTransactionsDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The President of the Company provides management and office premises to the Company for no compensation.</font></p>falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39603-107864 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39622-107864 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph b -Article 3A Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(k)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph k -Article 4 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39678-107864 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 57 -Paragraph 1-4 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. false0falseRELATED PARTY TRANSACTIONSUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://book.com/role/RelatedPartyTransactions12 XML 24 R11.htm IDEA: XBRL DOCUMENT v2.4.0.8
RELATED PARTY TRANSACTIONS
9 Months Ended
May 31, 2013
Notes to Financial Statements  
Note 5 - RELATED PARTY TRANSACTIONS

The President of the Company provides management and office premises to the Company for no compensation.

XML 25 R14.xml IDEA: SUPPLEMENTAL CASH FLOW INFORMATION 2.4.0.80014 - Disclosure - SUPPLEMENTAL CASH FLOW INFORMATIONtruefalsefalse1false falsefalseFrom2012-09-01to2013-05-31http://www.sec.gov/CIK0001556416duration2012-09-01T00:00:002013-05-31T00:00:001true 1BOOK_NotesToFinancialStatementsAbstractBOOK_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse02false 2us-gaap_CashFlowSupplementalDisclosuresTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Supplemental disclosures of cash flow information for the nine months ended May 31, 2013 is summarized as follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Cash paid during the nine months ended May 31, 2013 for interest and income taxes is as follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2013</b></font></td> <td nowrap="nowrap"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 89%"><font style="font: 10pt Times New Roman, Times, Serif">Interest</font></td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 8%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td nowrap="nowrap" style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 10pt Times New Roman, Times, Serif">Taxes</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td nowrap="nowrap"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table>falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for supplemental cash flow activities, including cash, noncash, and part noncash transactions, for the period. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4313-108586 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4304-108586 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 32 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4332-108586 false0falseSUPPLEMENTAL CASH FLOW INFORMATIONUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://book.com/role/SupplementalCashFlowInformation12 XML 26 R2.xml IDEA: Balance Sheet (Unaudited) 2.4.0.80002 - Statement - Balance Sheet (Unaudited)truefalsefalse1false USDfalsefalse$AsOf2013-05-31http://www.sec.gov/CIK0001556416instant2013-05-31T00:00:000001-01-01T00:00:00USDStandardhttp://www.xbrl.org/2003/iso4217USDiso42170USDUSD$2false USDfalsefalse$AsOf2012-08-31http://www.sec.gov/CIK0001556416instant2012-08-31T00:00:000001-01-01T00:00:00USDStandardhttp://www.xbrl.org/2003/iso4217USDiso42170USDUSD$1true 2us-gaap_AssetsAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalse2falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse02false 3us-gaap_Cashus-gaap_truedebitinstantfalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse21402140USD$falsetruefalse2truefalsefalse1093510935USD$falsetruefalsexbrli:monetaryItemTypemonetaryAmount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Cash -URI http://asc.fasb.org/extlink&oid=6506951 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.1) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 7 -Footnote 1 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 1 -Article 5 false23false 3us-gaap_OtherAssetsCurrentus-gaap_truedebitinstantfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00&nbsp;&nbsp;falsefalsefalse2falsefalsefalse00falsefalsefalsexbrli:monetaryItemTypemonetaryAggregate carrying amount, as of the balance sheet date, of current assets not separately disclosed in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer).Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.8) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 8 -Article 5 false24false 3us-gaap_AssetsCurrentus-gaap_truedebitinstantfalsefalsefalsefalsefalsefalsefalsefalsetotalLabel1truefalsefalse21402140falsefalsefalse2truefalsefalse1093510935falsefalsefalsexbrli:monetaryItemTypemonetarySum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.9) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6361293&loc=d3e6801-107765 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6361293&loc=d3e6676-107765 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 9 -Article 5 true25false 3us-gaap_Assetsus-gaap_truedebitinstantfalsefalsefalsefalsefalsefalsefalsefalsetotalLabel1truefalsefalse21402140falsefalsefalse2truefalsefalse1093510935falsefalsefalsexbrli:monetaryItemTypemonetarySum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 18 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.18) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 12 -Article 7 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Concepts (CON) -Number 6 -Paragraph 25 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. true26true 2us-gaap_LiabilitiesAndStockholdersEquityAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalse2falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse07false 3us-gaap_DueToOfficersOrStockholdersCurrentus-gaap_truecreditinstantfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00&nbsp;&nbsp;falsefalsefalse2falsefalsefalse00&nbsp;&nbsp;falsefalsefalsexbrli:monetaryItemTypemonetaryAmounts due to recorded owners or owners with a beneficial interest of more than 10 percent of the voting interests or officers of the company. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(k)(1)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph k -Subparagraph 1 -Article 4 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 57 -Paragraph 2 -Subparagraph d -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(a)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19 -Subparagraph a -Article 5 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 12 -Subparagraph a(1) -Article 6 false28false 3us-gaap_LiabilitiesCurrentus-gaap_truecreditinstantfalsefalsefalsefalsefalsefalsefalsefalsetotalLabel1falsefalsefalse00&nbsp;&nbsp;falsefalsefalse2falsefalsefalse00&nbsp;&nbsp;falsefalsefalsexbrli:monetaryItemTypemonetaryTotal obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.21) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 21 -Article 5 true29false 3us-gaap_Liabilitiesus-gaap_truecreditinstantfalsefalsefalsefalsefalsefalsefalsefalsetotalLabel1falsefalsefalse00&nbsp;&nbsp;falsefalsefalse2falsefalsefalse00&nbsp;&nbsp;falsefalsefalsexbrli:monetaryItemTypemonetarySum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19-26) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 true210true 2us-gaap_StockholdersEquityAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalse2falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse011false 3us-gaap_PreferredStockValueus-gaap_truecreditinstantfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00&nbsp;&nbsp;falsefalsefalse2falsefalsefalse00&nbsp;&nbsp;falsefalsefalsexbrli:monetaryItemTypemonetaryAggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 12 -Paragraph 10 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29 -Article 5 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.28) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 129 -Paragraph 2, 3, 4, 5, 6, 7, 8 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. false212false 3us-gaap_CommonStockValueus-gaap_truecreditinstantfalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse10601060falsefalsefalse2truefalsefalse10601060falsefalsefalsexbrli:monetaryItemTypemonetaryAggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 30 -Article 5 false213false 3us-gaap_AdditionalPaidInCapitalus-gaap_truecreditinstantfalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse98759875falsefalsefalse2truefalsefalse98759875falsefalsefalsexbrli:monetaryItemTypemonetaryExcess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 31 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.30(a)(1)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 false214false 3us-gaap_DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStageus-gaap_truedebitinstantfalsefalsefalsefalsefalsefalsefalsetruenegatedLabel1truefalsefalse-8795-8795falsefalsefalse2falsefalsefalse00falsefalsefalsexbrli:monetaryItemTypemonetaryCumulative net losses reported during the development stage.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 915 -SubTopic 210 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6472335&loc=d3e37729-110921 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 7 -Paragraph 11 -Subparagraph a -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. false215false 3us-gaap_StockholdersEquityus-gaap_truecreditinstantfalsefalsefalsefalsefalsefalsefalsefalsetotalLabel1truefalsefalse21402140falsefalsefalse2truefalsefalse1093510935falsefalsefalsexbrli:monetaryItemTypemonetaryTotal of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph A3 -Appendix A Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=6228006&loc=d3e74512-122707 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29-31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 true216false 3us-gaap_LiabilitiesAndStockholdersEquityus-gaap_truecreditinstantfalsefalsefalsefalsefalsefalsefalsefalsetotalLabel1truefalsefalse21402140USD$falsetruefalse2truefalsefalse1093510935USD$falsetruefalsexbrli:monetaryItemTypemonetaryTotal of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.32) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 25 -Article 7 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 32 -Article 5 true2falseBalance Sheet (Unaudited) (USD $)NoRoundingUnKnownUnKnownUnKnowntruefalsefalseSheethttp://book.com/role/BalanceSheet216 XML 27 R9.htm IDEA: XBRL DOCUMENT v2.4.0.8
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
9 Months Ended
May 31, 2013
Notes to Financial Statements  
Note 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

 

The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. The Company’s year-end is August 31.

 

Interim Financial Statements