U.S. SECURITIES AND EXCHANGE COMMISSION Form 10-Q |
Mark One
[ X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended December 31, 2013
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ______ to _______
Commission File No. 333-190235
ALTAIR INTERNATIONAL CORP.
(Exact name of registrant as specified in its charter)
Nevada
(State or Other Jurisdiction of Incorporation or Organization)
99-0385465 IRS Employer Identification Number | 7370 Primary Standard Industrial Classification Code Number |
Altair International Corp.
Conjunto Sierra Morena Casa D9
Tumbaco, Ecuador
Tel. (702) 605-0043
Indicate by checkmark whether the issuer: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X ] No[ ]
Indicate by check mark whether the registrant is a large accelerated filed, an accelerated filer, a non-accelerated filer, or a smaller reporting company.
Large accelerated filer [ ]
Accelerated filer [ ]
Non-accelerated filer [ ]
Smaller reporting company [X]
Indicate by checkmark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [X] No [ ]
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the most practicable date:
Class | Outstanding as of January 29, 2014 |
Common Stock, $0.001 | 4,235,000 |
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PART I | FINANCIAL INFORMATION |
|
ITEM 1 | FINANCIAL STATEMENTS | 3 |
BALANCE SHEETS | 3 | |
STATEMENTS OF OPERATIONS | 4 | |
STATEMENTS OF CASH FLOWS | 5 | |
NOTES TO FINANCIAL STATEMENTS | 6 | |
ITEM 2 | MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS | 8 |
ITEM 3 | QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK | 10 |
ITEM 4 | CONTROLS AND PROCEDURES | 11 |
PART II | OTHER INFORMATION | 11 |
ITEM 1 | LEGAL PROCEEDINGS | 11 |
ITEM 2 | UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS | 11 |
ITEM 3 | DEFAULTS UPON SENIOR SECURITIES | 11 |
ITEM 4 | MINE SAFETY DISCLOSURES | 12 |
ITEM 5 | OTHER INFORMATION | 12 |
ITEM 6 | EXHIBITS | 12 |
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PART I. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
ALTAIR INTERNATIONAL CORP. (A DEVELOPMENT STAGE COMPANY) BALANCE SHEETS | |||
| December 31, 2013 Unaudited | March 31, 2013 Audited | |
ASSETS |
|
| |
Current Assets |
|
| |
| Cash | $ 10,431 | $ 3,019 |
| Total current assets | 10,431 | 3,019 |
Total assets | $ 10,431 | $ 3,019 | |
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||
Current Liabilities | |||
| Loan from shareholder | $ 6,400 | $ 100 |
| Accounts payable | 1,500 |
|
| Total current liabilities | 7,900 | 100 |
Total liabilities | 7,900 | 100 | |
| |||
Stockholders’ Equity | |||
| Common stock, $0.001 par value, 75,000,000 shares authorized; |
| |
| 4,235,000 shares issued and outstanding (3,000,000 shares issued and outstanding as of March 31, 2013) | 4,235 | 3,000 |
| Additional paid-in-capital | 23,465 | - |
| Deficit accumulated during the development stage | (25,169) | (81) |
Total stockholders’ equity | 2,531 | 2,919 | |
Total liabilities and stockholders’ equity | $ 10,431 | $ 3,019 | |
The accompanying notes are an integral part of these financial statements.
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ALTAIR INTERNATIONAL CORP. (A DEVELOPMENT STAGE COMPANY) STATEMENTS OF OPERATIONS UNAUDITED | |||
| Three months ended December 31, 2013 | Nine months ended December 31, 2013 | For the period from inception (December 20, 2012) to December 31, 2013 |
Expense: |
|
|
|
Total General & Admin. Expenses | $ 19,360 | $ 25,088 | $ 25,169 |
Loss before income tax | (19,360) | (25,088) | (25,169) |
Income taxes | - |
| - |
Net loss | $ (19,360) | $ (25,088) | $ (25,169) |
Loss per share – Basic and Diluted | $ (0.00) | $ (0.00) |
|
Weighted Average Shares-Basic and Diluted | 3,320,435 | 3,107,200 |
|
The accompanying notes are an integral part of these financial statements.
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ALTAIR INTERNATIONAL CORP. (A DEVELOPMENT STAGE COMPANY) STATEMENTS OF CASH FLOWS UNAUDITED | |||
| Nine months ended December 31, 2013 | For the period from inception (December 20, 2012) to December 31, 2013 | |
Operating Activities |
|
| |
| Net loss | $ (25,088) | $ (25,169) |
| Accounts payable | 1,500 | 1,500 |
| Net cash used in operating activities | (23,588) | (23,669) |
Financing Activities |
|
| |
| Proceeds from issuance of common stock | 24,700 | 27,700 |
| Proceeds from loan from shareholder | 6,300 | 6,400 |
| Net cash provided by financing activities | 31,000 | 34,100 |
Net increase (decrease) in cash | 7,412 | 10,431 | |
Cash at beginning of the period | 3,019 | - | |
Cash at end of the period | $ 10,431 | $ 10,431 | |
| Supplemental cash flow information: |
|
|
| Cash paid for: |
|
|
| Interest | $ - | $ - |
| Taxes | $ - | $ - |
The accompanying notes are an integral part of these financial statements.
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ALTAIR INTERNATIONAL CORP.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2013
NOTE 1 - ORGANIZATION AND BUSINESS OPERATIONS
Organization and Description of Business
ALTAIR INTERNATIONAL CORP. (the “Company”) was incorporated under the laws of the State of Nevada on December 20, 2012. The Company is in the development stage as defined under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 915-205 "Development-Stage Entities.” Since inception through December 31, 2013 the Company has not generated any revenue and has accumulated losses of $25,169.
NOTE 2 - GOING CONCERN
The financial statements have been prepared on a going concern basis, which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company has incurred losses since inception resulting in an accumulated deficit of $25,169 as of December 31, 2013 and further losses are anticipated in the development of its business raising substantial doubt about the Company’s ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with existing cash on hand and loans from directors and/or private placement of common stock.
NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation
The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America, and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) and reflect all adjustments, consisting of normal recurring adjustments, which management believes are necessary to fairly present the financial position, results of operations and cash flows of the Company as of and for year ending December 31 and March 31, 2013 and the three and nine month periods ending December 31, 2013 and from (Inception) December 20, 2012 through December 31, 2013.
Cash and Cash Equivalents
For purposes of the statement of cash flows, the Company considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents.
The Company's bank accounts are deposited in insured institutions. The funds are insured up to $250,000. At December 31, 2013 the Company's bank deposits did not exceed the insured amounts.
Basic and Diluted Income (Loss) Per Share
The Company computes loss per share in accordance with “ASC-260”, “Earnings
per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive.
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Income Taxes
The Company follows the liability 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 deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.
Recent Accounting Pronouncements
The FASB issued Accounting Standards Update (ASU) No.2012-02 Intangibles Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment, on July 27, 2012, to simplify the testing for a drop in value of intangible assets such as trademarks, patents, and distribution rights. The amended standard reduces the cost of accounting for indefinite-lived intangible assets, especially in cases where the likelihood of impairment is low. The changes permit businesses and other organizations to first use subjective criteria to determine if an intangible asset has lost value. The amendments to U.S. GAAP will be effective for fiscal years starting after September 15, 2012. Early adoption is permitted. The adoption of this ASU will not have a material impact on our financial statements.
Fair Value of Financial Instruments
FASB ASC 820 "Fair Value Measurements and Disclosures" establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market.
These tiers include:
Level 1: defined as observable inputs such as quoted prices in active markets;
Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and
Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.
The carrying amounts of financial assets and liabilities, such as cash and accrued liabilities approximate their fair values because of the short maturity of these instruments.
Use of Estimates
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.
NOTE 4 – COMMON STOCK
The Company has 75,000,000 common shares authorized with a par value of $0.001 per share. On March 18, 2013 the Company issued 3,000,000 shares of its common stock at $0.001 per share for total proceeds of $3,000.
During the period December 20, 2012 (inception) to March 31, 2013, the Company sold a total of 3,000,000 shares of common stock for total cash proceeds of $3,000. In November and December 2013, the Company sold a total of 1,235,000 shares of common stock for total cash proceeds of $24,700. During the period December 20, 2012 (inception) to December 31, 2013, the Company sold a total of 4,235,000 shares of common stock for total cash proceeds of $27,700.
NOTE 5 – RELATED PARTY TRANSACTIONS
Since inception through December 31, 2013 the Director loaned the Company $6,400 to pay for incorporation costs, general and administrative expenses and professional fees. As of December 31, 2013, total loan amount was $6,400. The loan is non-interest bearing, due upon demand and unsecured.
NOTE 6 – SUBSEQUENT EVENTS
In accordance with ASC 855-10, the Company has analyzed its operations subsequent to December 31, 2013 and to January 15, 2013 and has determined that it does not have any material subsequent events to disclose in these financial statements.
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FORWARD LOOKING STATEMENTS
Statements made in this Form 10-Q that are not historical or current facts are "forward-looking statements" made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 (the "Act") and Section 21E of the Securities Exchange Act of 1934. These statements often can be identified by the use of terms such as "may," "will," "expect," "believe," "anticipate," "estimate," "approximate" or "continue," or the negative thereof. We intend that such forward-looking statements be subject to the safe harbors for such statements. We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management's best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events.
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION
Our Business
We plan to commence operations in architectural field and to be responsible for the concept architectural vision of future private and public buildings as well as municipal organized public areas. Also, we intend to provide interior design and architectural visualization, 3D rendering and architectural animation services and plan on using advanced computer technology to produce photo realistic 3D rendering, walk-through animation and 360 degree panorama. In the next 12 months after completion of our offering we intend to offer our services to clients in Ecuador. Working from sketches to fully detailed plans, we plan to create high detail, high quality three-dimensional renderings. Our images and animations can be used for design and planning, development, property sales, buildings, and the effective communication of concepts to clientele. Mr. Penaherrera Zavala will perform our design services. We anticipate that our potential clients or client agencies will execute contracts with us regarding our services in architectural field. We are going to work with wide range of clients from usual family which wants to upgrade or renovate their home to city municipalities with appropriate project scale demand. After full payment, our clients will own the copyrights for our renderings and designs.
Interior design projects
We plan to offer complex projects of interior design of most important living spaces inside the building. By our philosophy, it is very important to suggest our clients the professional vision of living areas where they will spend their daily live. That project usually includes blue-prints, detailed sketches, 3d-visualisation, rendering, finish material and furniture choose and construction process supervising.
Architectural projects
We intend to provide architectural design services like building and structural design, architectural drafting, architectural drawing, architectural lighting, plans, cost estimation, layering, 3D modeling and architectural renderings that will show case single buildings, sites or structures, exterior or interior, color and texture of proposed materials, and the relationship with the surrounding buildings and landscape. Architectural renderings are convincing marketing tools to visualize and demonstrate certain aspects of a future building or apartment to its buyers. We intend to concentrate on concept architectural projects of new private and renovate building projects with further sketches and blue-prints documentation development. Also we plan to be involved in projects of public buildings and areas.
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Landscape architectural projects
As well as working with private clients we also plan to work with more complicated landscape architectural projects. Landscape architecture is the design of outdoor public areas, organized green spaces in the cities, landmarks, and structures to achieve environmental, social-behavioral, or aesthetic outcomes.
3d modeling
Hand-drawings and written explanations of the architectural and design ideas are not enough for fully detailed projects. Therefore, in all steps of our projects we will provide fully detailed 3D-renderings and 3D virtual reality architectural animations (also known as walk-through or fly-through animations), a short architectural movies created on a computer. With 3D walk-through any specific viewpoint can be viewed from any angle or height giving a real photorealistic feeling. Some of the advantages of virtual 3D walk-through are:
- Actual structure, architecture and building materials can be shown;
- It brings a possibility to explore and experiment with colors, textures, and other architectural details;
- External/Internal lighting such as natural lighting, based upon window direction, time of year and time of day can be previewed;
- 3D Architectural animation will include exterior features such as landscaping, trees, hedges, fences;
- Multiple design options can be explored and resolved before building begins.
RESULTS OF OPERATION
As of December 31, 2013, we had total assets of $10,431 and total liabilities of $7,900. Since our inception to December 31, 2013, we have accumulated a deficit of $25,169. We anticipate that we will continue to incur substantial losses in the next 12 months. Our financial statements have been prepared assuming that we will continue as a going concern. We expect we will require additional capital to meet our long term operating requirements. We expect to raise additional capital through, among other things, the sale of equity or debt securities.
Nine Month Period Ended December 31, 2013 Compared to the period from inception (December 20, 2012) to December 31, 2013
Our net loss for the nine month period ended December 31, 2013 was $25,088 compared to a net loss of $25,169 during the period from inception (December 20, 2012) to December 31, 2013. During the nine month period ended December 31, 2013, we have not generated any revenues.
During the nine month period ended December 31, 2013, we incurred $25,088 in general and administrative expenses compared to $25,169 in general and administrative expenses incurred during the period from inception (December 20, 2012) to December 31, 2013. General and administrative and professional fee expenses incurred during the nine month period ended December 31, 2013 were generally related to corporate overhead, financial and administrative contracted services, such as legal and accounting, developmental costs, and marketing expenses.
The weighted average number of shares outstanding was 3,107,200 for the nine month period ended December 31, 2013.
LIQUIDITY AND CAPITAL RESOURCES
As of December 31, 2013
As of December 31, 2013 our current assets were $10,431 compared to $3,019 in current assets at March 31, 2013. Our current liabilities were $7,900 as of December 31, 2013compared to $100 as at March 31, 2013.
Stockholders’ equity decreased from $2,919 as of March 31, 2013 to $2,531 as of December 31, 2013.
Cash Flows from Operating Activities
We have not generated positive cash flows from operating activities. For the nine month period ended December 31, 2013, cash flows used in operating activities was $23,588, consisting of a net loss of $25,088 and accounts payable of $1,500. During the period from inception (December 20, 2012) to December 31, 2013 net cash flows used in operating activities was $23,669.
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Cash Flows from Financing Activities
We have financed our operations primarily from either advancements or the issuance of equity and advances from our sole director. For the nine month period ended December 31, 2013, cash provided by financing activities was $31,000 received from proceeds from issuance of common stock and loan from the director. For the period from inception (December 20, 2012 ) to December 31, 2013, net cash provided by financing activities was $34,100 received from proceeds from issuance of common stock and loan from the director.
PLAN OF OPERATION AND FUNDING
We expect that working capital requirements will continue to be funded through a combination of our existing funds and further issuances of securities. Our working capital requirements are expected to increase in line with the growth of our business.
Existing working capital, further advances and debt instruments, and anticipated cash flow are expected to be adequate to fund our operations over the next twelve months. We have no lines of credit or other bank financing arrangements. Generally, we have financed operations to date through the proceeds of the private placement of equity and advances from our sole officer and director. In connection with our business plan, management anticipates additional increases in operating expenses and capital expenditures relating to: (i) acquisition of inventory; (ii) developmental expenses associated with a start-up business; and (iii) marketing expenses. We intend to finance these expenses with further issuances of securities, and debt issuances. Thereafter, we expect we will need to raise additional capital and generate revenues to meet long-term operating requirements. We currently have no agreements, arrangements or understandings with any person to obtain funds through bank loans, lines of credit or any other sources. Since we have no such arrangements or plans currently in effect, our inability to raise funds for the above purposes will have a severe negative impact on our ability to remain a viable company. Additional issuances of equity or convertible debt securities will result in dilution to our current shareholders. Further, such securities might have rights, preferences or privileges senior to our common stock. Additional financing may not be available upon acceptable terms, or at all. If adequate funds are not available or are not available on acceptable terms, we may not be able to take advantage of prospective new business endeavors or opportunities, which could significantly and materially restrict our business operations.
OFF-BALANCE SHEET ARRANGEMENTS
As of the date of this Quarterly Report, we do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.
GOING CONCERN
The independent auditors' report accompanying our March 31, 2013 financial statements contained an explanatory paragraph expressing substantial doubt about our ability to continue as a going concern. The financial statements have been prepared "assuming that we will continue as a going concern," which contemplates that we will realize our assets and satisfy our liabilities and commitments in the ordinary course of business.
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.
A smaller reporting company, as defined by Item 10 of Regulation S-K, is not required to provide the information required by this item.
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ITEM 4 (T). CONTROLS AND PROCEDURES
Disclosure Controls and Procedures
Our management is responsible for establishing and maintaining a system of disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act) that is designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer’s management, including its principal executive officer or officers and principal financial officer or officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.
An evaluation was conducted under the supervision and with the participation of our management of the effectiveness of the design and operation of our disclosure controls and procedures as of December 31, 2013. Based on that evaluation, our management concluded that our disclosure controls and procedures were effective as of such date to ensure that information required to be disclosed in the reports that we file or submit under the Exchange Act, is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms.
Changes in Internal Controls over Financial Reporting
There have been no changes in the Company's internal control over financial reporting during the last quarterly period covered by this report that have materially affected, or are reasonably likely to materially affect, the Company's internal control over financial reporting.
PART II. OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
Management is not aware of any legal proceedings contemplated by any governmental authority or any other party involving us or our properties. As of the date of this Quarterly Report, no director, officer or affiliate is (i) a party adverse to us in any legal proceeding, or (ii) has an adverse interest to us in any legal proceedings. Management is not aware of any other legal proceedings pending or that have been threatened against us or our properties.
ITEM 1A. RISK FACTORS
A smaller reporting company, as defined by Item 10 of Regulation S-K, is not required to provide the information required by this item.
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
None.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None.
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ITEM 4. MINE SAFETY DISCLOSURES
Not applicable
ITEM 5. OTHER INFORMATION
None.
ITEM 6. EXHIBITS
Exhibits:
Number | Description |
|
|
31.1 | Certification of Principal Executive Officer and Principal Financial Officer, pursuant to SEC Rules 13a-14(a) and 15d-14(a), adopted pursuant Section 302 of the Sarbanes Oxley Act of 2002 |
32.1 | Certification of Chief Executive Officer and Principal Financial Officer, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |
101.INS | XBRL Instance Document |
101.SCH | XBRL Taxonomy Extension Schema Document |
101.CAL | XBRL Taxonomy Extension Calculation Linkbase Document |
101.DEF | XBRL Taxonomy Extension Definition Linkbase Document |
101.LAB | XBRL Taxonomy Extension Label Linkbase Document |
101.PRE | XBRL Taxonomy Extension Presentation Linkbase Document |
SIGNATURES
In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| ALTAIR INTERNATIONAL CORP. |
Dated: January 29, 2014 | By: /s/ Homero Giovanni Penaherrera Zavala |
| Homero Giovanni Penaherrera Zavala, President and Chief Executive Officer and Chief Financial Officer |
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Exhibit 31.1
CERTIFICATION
I, Homero Giovanni Penaherrera Zavala, President, Chief Executive Officer and Chief Financial Officer of ALTAIR INTERNATIONAL CORP., certify that:
1. I have reviewed this Quarterly Report on Form 10-Q of ALTAIR INTERNATIONAL CORP.;
2. Based on my knowledge, this report does not contain any untrue statement of 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 quarterly 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 control 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;
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. The registrant's other certifying officer(s) and 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: January 29, 2014
/s/ Homero Giovanni Penaherrera Zavala
____________________________
Homero Giovanni Penaherrera Zavala, President,
Chief Executive Officer and Chief Financial Officer
Exhibit 32.1
CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
In connection with the Quarterly Report of ALTAIR INTERNATIONAL CORP.(the "Company") on Form 10-Q for the period ended December 31, 2013 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), the undersigned, in the capacities and on the dates indicated below, hereby certifies pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to his knowledge:
1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
Date: January 29, 2014
/s/ Homero Giovanni Penaherrera Zavala
Homero Giovanni Penaherrera Zavala, President,
Chief Executive Officer and
Chief Financial Officer
|
Statement of Financial Position (USD $)
|
Dec. 31, 2013
|
Mar. 31, 2013
|
|---|---|---|
| Assets, Current | ||
| Cash and Cash Equivalents, at Carrying Value | $ 10,431 | $ 3,019 |
| Assets, Current | 10,431 | 3,019 |
| Assets | 10,431 | 3,019 |
| Liabilities, Noncurrent | ||
| Accounts Payable and Accrued Liabilities, Noncurrent | 1,500 | |
| Due to Related Parties, Noncurrent | 6,400 | 100 |
| Liabilities | 7,900 | 100 |
| Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | ||
| Common Stock, Value, Issued | 4,235 | 3,000 |
| Additional Paid in Capital, Preferred Stock | 23,465 | |
| Retained Earnings (Accumulated Deficit) | (25,169) | (81) |
| Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 2,531 | 2,919 |
| Stockholders' Equity, Number of Shares, Par Value and Other Disclosures | ||
| Common Stock, Shares Authorized | 75,000,000 | 75,000,000 |
| Common Stock, Shares Issued | 4,235,000 | 3,000,000 |
| Liabilities and Equity | $ 10,431 | $ 3,019 |
|
Related Party Disclosures
|
9 Months Ended |
|---|---|
|
Dec. 31, 2013
|
|
| Related Party Disclosures: | |
| Related Party Transactions Disclosure | NOTE 5 – RELATED PARTY TRANSACTIONS
Since inception through December 31, 2013 the Director loaned the Company $6,400 to pay for incorporation costs, general and administrative expenses and professional fees. As of December 31, 2013, total loan amount was $6,400. The loan is non-interest bearing, due upon demand and unsecured. |
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