10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

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

For the quarterly period ended: September 30, 2017

or

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

For the transition period from to

Commission file Number: 000-55286

MOMS ONLINE, INC.

(Exact name of registrant as specified in its Charter)

Nevada	46-3856798
(State or other Jurisdiction of Incorporation or organization)	(I.R.S. Employer Identification No.)

9350 Wilshire #203

Beverly Hills, California 90212

(Address of Principal Executive Offices)

(310) 819-4637

(Registrant’s Telephone Number, including area code)

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act 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. (1) Yes [X] No [   ]

Indicate by check mark whether the Registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes [X] No [   ]

The Company has no corporate Web site.

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

Large accelerated filer	[   ]	Non-accelerated filer	[   ]
Accelerated filer	[   ] (Do not check if a smaller reporting company)	Smaller reporting company	[X]
		Emerging growth company	[   ]

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [   ]

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [   ] No [X]

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

Not applicable.

Outstanding Shares

At November 14, 2017 there were 4,770,674 shares of the Registrant's Common Stock.

1

MOMS ONLINE, INC.

TABLE OF CONTENTS

	PAGE
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements	3
Unaudited Balance Sheets, as of September 30, 2017 and December 31, 2016	3
Unaudited Statements of Operations, for the Three and Nine Month Periods Ended September 30, 2017 and 2016	4
Unaudited Statements of Cash Flows, for the Nine Month Periods Ended September 30, 2017 and 2016	5
Notes to Unaudited Financial Statements	6
Item 2. Management's Discussion and Analysis of Financial Condition or Plan of Operation	8
Item 3. Quantitative and Qualitative Disclosures About Market Risks	9
Item 4. Controls and Procedures	9
PART II. OTHER INFORMATION	10
SIGNATURES	11

2

PART I FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

MOMS ONLINE, INC.
BALANCE SHEETS
		September 30, 2017		December 31, 2016
		(UNAUDITED)
ASSETS
CURRENT ASSETS
Cash	$	6,802	$	115,648
Total current assets		6,802		115,648
Moms Corner website		86,486		86,486
Less:  Accumulated amortization		(79,278)		(57,657)
Moms Corner website, net		7,208		28,829
TOTAL ASSETS	$	14,010	$	144,477
LIABILITIES AND STOCKHOLDERS' (DEFICIT)
CURRENT LIABILITIES
Accounts payable	$	37,899	$	3,059
Due to related parties		100,358		86,033
Due to parent		181,449		161,888
Total current liabilities		319,706		250,980
STOCKHOLDERS' (DEFICIT)
Common stock ($.001 par value) 75,000,000 shares authorized,
4,770,674 and 4,755,674 shares issued and outstanding at September 30, 2017
and December 31, 2016, respectively		4,770		4,755
Additional paid-in capital		965,637		909,402
Accumulated deficit		(1,276,103)		(1,020,660)
Total Stockholders' (Deficit)		(305,696)		(106,503)
TOTAL LIABILITIES AND STOCKHOLDERS' (DEFICIT)	$	14,010	$	144,477
The accompanying notes are an integral part of these unaudited financial statements.

3

MOMS ONLINE, INC.
STATEMENTS OF OPERATIONS
(UNAUDITED)
			For the Three Months Ended				For the Nine Months Ended
			September 30,				September 30,
			2017		2016		2017		2016
OPERATING EXPENSES
	Platform lease	$	12,500	$	12,500	$	37,500	$	37,500
	Website maintenance		19,741		9,303		57,622		52,587
	Legal and professional		28,934		8,619		98,898		26,769
	Selling, general and administrative		10,674		42,673		39,473		132,108
	Amortization expense		7,207		7,207		21,621		21,622
	Total operating expenses		79,056		80,302		255,114		270,586
LOSS FROM OPERATIONS			(79,056)		(80,302)		(255,114)		(270,586)
OTHER (EXPENSE)
	Interest expense		(215)		(125)		(329)		(845)
	Total other (expense)		(215)		(125)		(329)		(845)
NET LOSS		$	(79,271)	$	(80,427)	$	(255,443)	$	(271,431)
Basic and diluted loss per common share		$	(0.02)	$	(0.02)	$	(0.05)	$	(0.06)
Weighted average number of common shares outstanding - basic and diluted			4,760,674		4,741,413		4,759,431		4,486,960
The accompanying notes are an integral part of these unaudited financial statements.

4

MOMS ONLINE, INC.
STATEMENTS OF CASH FLOWS
(UNAUDITED)
		For the Nine Months Ended
		September 30,
		2017		2016
Cash flows from operating activities:
Net loss		(255,443)		(271,431)
Adjustments to reconcile net loss to net cash used in operating activities:
Deferred stock compensation		41,250		14,368
Stock compensation		15,000		23,438
Net expenses paid by related party		-		(8,772)
Amortization expense		21,621		21,621
Changes in operating assets and liabilities:
Accounts payable		34,840		(12,276)
Due to related parties		33,886		41,608
Net cash used in operating activities		(108,846)		(191,444)
Cash flows from financing activities:
Common stock sold for cash		-		328,150
Advances from related party		-		13,665
Net cash provided by financing activities		-		341,815
Net increase in cash and cash equivalents		(108,846)		150,371
Cash, beginning of period		115,648		2,984
Cash, end of period	$	6,802	$	153,355
Cash paid during the year for:
Interest	$	-	$	125
Income taxes	$	-	$	-
The accompanying notes are an integral part of these unaudited financial statements.

5

MOMS ONLINE, INC.

NOTES TO UNAUDITED FINANCIAL STATEMENTS

September 30, 2017

NOTE 1: BASIS OF PRESENTATION

Basis of Presentation

The unaudited interim financial statements of Moms Online, Inc. (the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information in accordance with Securities and Exchange Commission (SEC) Regulation S-X rule 8-03. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, the unaudited interim financial statements have been prepared on the same basis as the annual financial statements and reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the financial position and the results of operations and cash flows for the interim periods presented herein. The financial data and other information disclosed in these notes to the interim financial statements related to the period are unaudited. The results for the nine month periods ended September 30, 2017 are not necessarily indicative of the results to be expected for any subsequent quarters or for the entire year ending December 31, 2017. These financial statements should be read in conjunction with the financial statements of the Company for the year ended December 31, 2016.

NOTE 2: GOING CONCERN AND CONTINGENCIES

Going Concern

As shown in the accompanying financial statements, we have incurred losses in each year since inception and have a working capital deficit of $312,904, and an accumulated deficit of $1,276,103 as of September 30, 2017. These conditions raise substantial doubt as to our ability to continue as a going concern.

In response to these conditions, we may raise additional capital through the sale of equity securities, through an offering of debt securities or through borrowings from financial institutions or individuals. The financial statements do not include any adjustments that might be necessary if we are unable to continue as a going concern.

Repayment of investment from Sister Corp

There is an informal agreement between Social Quotient, Inc. (“SQI”), the company’s affiliate (sister corp.) and the Company that calls for the company to give recognition to SQI for the equity contributed to the company “from inception to the future date in which the company might be engaged in a merger or change in control”. The amount of consideration contingently due from the company was $95,224 at September 30, 2017 and December 31, 2016. This contingent liability amount can be satisfied in cash (minimum), or currently $.02 per share; debt; or equity conversion in the event of a merger or transaction in which there is a change in Control.

NOTE 3: RELATED PARTY TRANSACTIONS AND RELATIONSHIPS

All directors of the company are related parties. IceLounge Media, Inc. “ILMI” funded 100% of the development of the Momscorner.com website prior to December 31, 2013. ILMI spun off the website to the Company. All amounts due to related parties were converted to stock in 2013 by prior agreement. The stock fair value was determined to be $0.5168 per share, based on the fair values of the website and the anticipated public filing.

During the nine months ended September 30, 2017, the Company recognized $37,500 in platform lease expense due to ILMI and paid back $17,939. During the nine months ended September 30, 2016, ILMI paid net expenses on behalf of the Company of $13,665, respectively. As of September 30, 2017 and December 31, 2016, the outstanding amounts due to parent were $181,449 and $161,888, respectively.

In addition, Social Quotient Inc. paid $0 and $6,228 of expenses, respectively, for and in behalf of the Company, for the nine months ended September 30, 2017 and 2016, which were accounted for as paid in capital. The Company re-paid SQI $0 and $15,000, during the nine months ended September 30, 2017 and 2016, respectively.

On June 6, 2016 the Board of Directors of IMLI agreed to transfer from its own holdings of the company’s common stock, 25,000 shares to a company shareholder because he was the first to invest in all three of the IMLI family of companies.

6

The Company licenses its technology platform from ILMI, under an Agreement which calls for an automatic 12 month renewal each year on October 1, and a monthly lease payment of $4,167. The company accrued $37,500 for platform lease expense for each of the nine month periods ended September 30, 2017 and 2016.

WB Capital, a related party with common principal ownership, provides Merger & Acquisition and project management services to the Company as a consultant. There is no written agreement governing the relationship. The Company accrued $2,500 a month for these services. Due to the Company’s lack of available cash, the amounts were not paid during either of the nine months ended September 30, 2017 or 2016. The Company owed WB Capital $82,500 as of September 30, 2017.

Scott E. Lybbert, prior CFO, provided accounting and reporting services to the Company as a consultant. There was no written agreement governing the relationship. For the nine months ended September 30, 2016, the Company accrued $12,708, for Lybbert’s services (no amounts were accrued for the nine months ended September 30, 2017). During the nine months ended September 30, 2017, the Company paid back $5,850. Mr. Lybbert passed away in February 2017. As of September 30, 2017, $17,858 was owed to Mr. Lybbert’s estate.

The company paid a former financial consultant, who began working for the company at the end of the first quarter of 2016 and is appointed to the Board of Directors on May 26, 2017. The company had accrued invoices from this consultant in the amount of $13,200 for the year ended December 31, 2016, of which all $13,200 has been paid back.

NOTE 4: WEBSITE AND INTANGIBLE ASSETS

Since inception, most of the Company’s resources have been focused on creating its business model and related website. Certain costs incurred in development of our website were capitalized with a total of $17,831 allocated to our website development in 2013. In 2014, the Company enhanced its website with mobile-enabled features and functionality. Consequently, $68,655 additional costs were capitalized to the website in 2014. No additional amounts have been capitalized since 2014. The Company began amortizing its capitalized website costs of $86,486 on January 1, 2015, over its estimated useful life of three years. The Company recognized amortization expense of $21,621 and $21,621, for the nine months ended September 30, 2017 and 2016, respectively.

NOTE 5: EQUITY

Common stock

The authorized capital stock of the Company consists of 75,000,000 shares of Common stock, par value $.001 per share, of which 4,770,674 were outstanding as of September 30, 2017.

The holders of Common Stock are entitled to one vote per share on each matter submitted to a vote at any meeting of shareholders. Shares of Common Stock do not carry cumulative voting rights and, therefore, a majority of the shares of outstanding Common Stock will be able to elect the entire board of directors and, if they do so, minority shareholders would not be able to elect any persons to the board of directors. Moms Online’s bylaws provide that a majority of the issued and outstanding shares of Moms Online constitutes a quorum for shareholders’ meetings.

Shareholders of Moms Online have no preemptive rights to acquire additional shares of Common Stock or other securities. The Common Stock is not subject to redemption and carries no subscription or conversion rights. In the event of liquidation of Moms Online, the shares of Common Stock are entitled to share equally in corporate assets after satisfaction of all liabilities.

Holders of Common Stock are entitled to receive such dividends, as the board of directors may from time to time declare out of funds legally available for the payment of dividends. Moms Online seeks growth and expansion of its business through the reinvestment of profits, if any, and does not anticipate that we will pay dividends in the foreseeable future.

During the nine months ended September 30, 2017, the company recognized $18,750 of deferred stock compensation to recognize three quarters of a four year stock compensation agreement calling for the payment of 100,000 shares. These shares have not been issued yet due to a yet unfulfilled vesting clause, and are accounted for as a deferred compensation component of paid in capital. The company also recognized $15,000 of deferred stock compensation to recognize three quarters of a two year stock compensation agreement calling for the payment of 40,000 shares. These shares have not been issued yet due to a yet unfulfilled vesting clause, and are accounted for as a deferred compensation component of paid in capital. The company also recognized $7,500 of deferred stock compensation to recognize three quarters of a two year stock compensation agreement calling for the payment of 20,000 shares. These shares have not been issued yet due to a yet unfulfilled vesting clause, and are accounted for as a deferred compensation component of paid in capital.

7

As of September 30, 2017, the Company issued an aggregate of 15,000 restricted shares to a third party contractor, for services. The Company recorded professional fees expense of $15,000 for these shares. The related agreement specifies 40,000 shares will be issued over a two year period, upon completion of certain milestones.

On August 1, 2017, the Company agreed to issue 100,000 shares of common stock to a third party contractor, with a vesting period of 2 years. 25% of the shares will vest 6 months from the date of the agreement, and the remaining 75% will vest in equal quarterly installments over the remaining 18 months, as long as the contractor provides continuous service.

8

ITEM 2: MANAGEMENT'S DISCUSSION AND ANALYSIS AND PLAN OF OPERATIONS

The following discussion should be read in conjunction with the Consolidated Financial Statements and notes thereto. See "ITEM 1 FINANCIAL STATEMENTS".

Management's Discussion and Analysis:

Certain statements in this Report constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Factors that might cause such a difference include, among others, uncertainties relating to general economic and business conditions; industry trends; changes in demand for our products and services; uncertainties relating to customer plans and commitments and the timing of orders received from customers; announcements or changes in our pricing policies or that of our competitors; unanticipated delays in the development, market acceptance or installation of our products and services; changes in government regulations; availability of management and other key personnel; availability, terms and deployment of capital; relationships with third-party equipment suppliers; and worldwide political stability and economic growth. The words “believe,” “expect,” “anticipate,” “intend” and “plan” and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made

Results of Operations

Net loss for the three months ended September 30, 2017 decreased $1,156, or 1.4% from the $80,427 net loss for the three months ended September 30, 2016 due primarily to a decrease in selling, general and administrative costs of $31,999, or 75.0%, partially offset by an increase in legal and professional fees of $20,315, or 235.7%.

Net loss for the nine months ended September 30, 2017 decreased $15,988, or 5.9% from the $271,431 net loss for the nine months ended September 30, 2016 due primarily to a decrease in selling, general and administrative costs of $92,635, or 70.1%, partially offset by an increase in legal and professional fees of $72,129, or 269.4%.

Liquidity and Capital Resources:

At its current level of operations, the Company will need to raise additional capital during the next fiscal year. The Company has a relatively moderate amount of cash and had depended upon ILMI (its parent company) and Social Quotient (its sister company) for funding in the past. It is management’s intent to continue to have the Company break away from its dependencies and to be self-sufficient.

CURRENT PLAN OF OPERATIONS

The Company plans to sell stock to raise sufficient capital to begin marketing the website, grow its user base and website traffic in order to begin generating revenues. Additional personnel will be added and managed as they become affordable. The company will also pursue potential merger or acquisition candidates as they may present themselves

Management encourages its shareholders to communicate directly with the Company for its typical investor relations, including address changes and for general corporate information by calling or writing to the Company at its administrative offices or by posting a message to Management also encourages shareholders to keep their address current with the Company.

DISCLOSURE REGARDING FORWARD LOOKING STATEMENTS

This annual report includes forward looking statements which involve risks and uncertainties. Such statements can be identified by the use of forward-looking language such as "will likely result", "may", "are expected to", "is anticipated", "estimate", "believes", "projected", or similar words. All statements, other than statements of historical fact included in this section, are forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. The Company's actual results could differ materially from those anticipated in any such forward-looking statements as a result of various risks, including, without limitation, the dependence on a single line of business; the failure to close proposed financing; rapid technological change; inability to attract and retain key personnel; the potential for significant fluctuations in operating results; the loss of a major customer; and the potential volatility of the Company's common stock.

9

ITEM 3: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The company operates minimally and has no meaningful assets subject to market risk. Therefore, this item is not applicable given the company’s current operations.

ITEM 4: CONTROLS AND PROCEDURES

Disclosure Controls and Procedures

As of the end of the period covered by this quarterly report, we carried out an evaluation, under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934 (the “Exchange Act”)), and management necessarily applied its judgment in assessing the costs and benefits of such controls and procedures, which, by their nature, can provide only reasonable assurance regarding management’s control objectives. You should note that the design of any system of controls is based in part upon certain assumptions about the likelihood of future events, and we cannot assure you that any design will succeed in achieving its stated goals under all potential future conditions, regardless of how remote. Based upon the foregoing evaluation, our Chief Executive Officer and the Chief Financial Officer concluded that our disclosure controls and procedures over financial reporting were not effective. Our management identified the following material weaknesses in our internal control over financial reporting, which are indicative of many small companies with small staff:

We do not yet have written documentation of our internal control policies and procedures. Written documentation of key internal controls over financial reporting is a requirement of Section 404 of the Sarbanes-Oxley Act as of September 30, 2017. Management evaluated the impact of our failure to have written documentation of our internal controls and procedures on our assessment of our disclosure controls and procedures and has concluded that the control deficiency that resulted represented a material weakness.

We do not have sufficient segregation of duties within accounting functions, which is a basic internal control. Due to our size and nature, the segregation of all conflicting duties has not always been possible or economically feasible. To the extent possible, the initiation of transactions, the custody of assets and the recording of transactions should be performed by separate individuals. Management evaluated the impact of our failure to have sufficient segregation of duties on our assessment of our disclosure controls and procedures and has concluded that the control deficiency that resulted represented a material weakness.

Management will seek to provide sufficient resources toward the proper mitigation of these material control weaknesses.

Internal Control Over Financial Reporting

There were no changes in internal control over financial reporting that occurred during the third quarter of 2017 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

10

PART II OTHER INFORMATION

ITEM 1. Legal Proceedings

In the normal course of business, there may be various legal actions and proceedings pending which seek damages against the Company. As of September 30, 2017, there were no claims asserted or threatened against the Company.

ITEM 1A. Risk Factors

This item is not required of smaller reporting companies.

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

None.

ITEM 3. Defaults on Senior Securities

None; not applicable.

ITEM 4. Mine Safety Disclosures

None; not applicable.

ITEM 5. Other Information.

None.

ITEM 6. Exhibits

Exhibits
31.1	302 Certification
31.2	302 Certification
32.1	Certification of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350, Section 906 of the Sarbanes-Oxley Act of 2002
32.2	Certification of Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, Section 906 of the Sarbanes-Oxley Act of 2002

11

SIGNATURES

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

Date: November 14, 2017

MOMS ONLINE, INC.

(Registrant)

By /s/ Calvin Wong

Calvin Wong

Principal Financial Officer

12

EX-31.1

Exhibit 31.1 Section 302 Certification

EX-31.2

Exhibit 31.2 Section 302 Certification

EX-32.1

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 Moms Online, Inc. (the “Registrant”) on Form 10-Q for the period ending September 30, 2017, as filed with the Securities and Exchange Commission on the date hereof (the “Quarterly Report”), I, Mingoo Kevin Ghim, Chief Executive Officer of the Registrant, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Quarterly Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Quarterly Report fairly presents, in all material respects, the financial condition and result of operations of the Registrant.

Date:	November 14, 2017	By:	/s/Mingoo Kevin Ghim
			Mingoo Kevin Ghim Principal Executive Officer

EX-32.2

Exhibit 32.2

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 Moms Online, Inc. (the “Registrant”) on Form 10-Q for the period ending September 30, 2017, as filed with the Securities and Exchange Commission on the date hereof (the “Quarterly Report”), I, Calvin Wong, Interim Chief Financial Officer of the Registrant, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Quarterly Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Quarterly Report fairly presents, in all material respects, the financial condition and result of operations of the Registrant.

Date:	November 14, 2017	By:	/s/ Calvin Wong
			Calvin Wong Interim Principal Financial Officer

XML

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 14, 2017
Details
Registrant Name	Moms Online, Inc.
Registrant CIK	0001619174
SEC Form	10-Q
Period End date	Sep. 30, 2017
Fiscal Year End	--12-31
Trading Symbol	momc
Tax Identification Number (TIN)	463856798
Number of common stock shares outstanding		4,765,674
Filer Category	Smaller Reporting Company
Current with reporting	Yes
Voluntary filer	No
Well-known Seasoned Issuer	No
Amendment Flag	false
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q3
Entity Incorporation, State Country Name	Nevada
Entity Address, Address Line One	9350 Wilshire Boulevard
Entity Address, City or Town	Beverly Hills
Entity Address, State or Province	California
Entity Address, Postal Zip Code	90210
City Area Code	(813)
Local Phone Number	503-7584

XML

Balance Sheets (September 30, 2017 unaudited) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Current Assets
Cash and cash equivalents	$ 6,802	$ 115,648
Total current assets	6,802	115,648
Moms Corner website	86,486	86,486
Less: Accumulated amortization	(79,278)	(57,657)
Moms Corner website, net	7,208	28,829
Total assets	14,010	144,477
Current liabilities:
Accounts payable	37,899	3,059
Due to Related Parties, Current	100,358	86,033
Other Liabilities, Current	181,449	161,888
Total current liabilities	319,706	250,980
Shareholders' deficit:
and December 31, 2016, respectively	4,770	4,755
Additional paid-in capital	965,637	909,402
Accumulated deficit	(1,276,103)	(1,020,660)
Total shareholders' deficit	(305,696)	(106,503)
Total liabilities and shareholders' deficit	$ 14,010	$ 144,477

XML

Balance Sheets (September 30, 2017 unaudited) - Parenthetical - $ / shares	Sep. 30, 2017	Dec. 31, 2016
Details
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	75,000,000	75,000,000
Common Stock, Shares, Issued	4,770,674	4,755,674
Common Stock, Shares, Outstanding	4,770,674	4,755,674

XML

Statement of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Operating expenses:
Platform lease	$ 12,500	$ 12,500	$ 37,500	$ 37,500
Website maintenance	19,741	9,303	57,622	52,587
Legal and professional	28,934	8,619	98,898	26,769
General and Administrative Expense	10,674	42,673	39,473	132,108
Amortization expense	7,207	7,207	21,621	21,622
Total operating expenses	79,056	80,302	255,114	270,586
LOSS FROM OPERATIONS	(79,056)	(80,302)	(255,114)	(270,586)
Other Nonoperating Income (Expense)
Interest expense	(215)	(125)	(329)	(845)
Nonoperating Income (Expense)	(215)	(125)	(329)	(845)
Net Income (Loss)	$ (79,271)	$ (80,427)	$ (255,443)	$ (271,431)
Basic and diluted net loss per common share	$ (0.02)	$ (0.02)	$ (0.05)	$ (0.06)
Basic and diluted weighted-average common shares outstanding	4,760,674	4,741,413	4,759,431	4,486,960

XML

Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Net Cash Provided by (Used in) Operating Activities
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ (255,443)	$ (271,431)
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities
Deferred stock compensation	41,250	14,368
Stock compensation	15,000	23,438
Net expenses paid by related party	0	(8,772)
Amortization expense	21,621	21,621
Changes in operating assets and liabilities:
Increase (Decrease) in Accounts Payable	34,840	(12,276)
Due to related parties	33,886	41,608
Net Cash Provided by (Used in) Operating Activities, Continuing Operations	(108,846)	(191,444)
Net Cash Provided by (Used in) Financing Activities
Common stock sold for cash	0	328,150
Advances from related party	0	13,665
Net Cash Provided by (Used in) Financing Activities	0	341,815
Cash and Cash Equivalents, Period Increase (Decrease)	(108,846)	150,371
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	115,648	2,984
Cash and Cash Equivalents, at Carrying Value, Ending Balance	6,802	153,355
Interest Paid	0	125
Income Taxes Paid	$ 0	$ 0

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Note 1 - Basis of Presentation

9 Months Ended

Sep. 30, 2017

Notes

Note 1 - Basis of Presentation

NOTE 1: BASIS OF PRESENTATION

Basis of Presentation

The unaudited interim financial statements of Moms Online, Inc. (the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information in accordance with Securities and Exchange Commission (SEC) Regulation S-X rule 8-03. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, the unaudited interim financial statements have been prepared on the same basis as the annual financial statements and reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the financial position and the results of operations and cash flows for the interim periods presented herein. The financial data and other information disclosed in these notes to the interim financial statements related to the period are unaudited. The results for the nine month periods ended September 30, 2017 are not necessarily indicative of the results to be expected for any subsequent quarters or for the entire year ending December 31, 2017. These financial statements should be read in conjunction with the financial statements of the Company for the year ended December 31, 2016.

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Note 2 - Going Concern and Contingencies

9 Months Ended

Sep. 30, 2017

Notes

Note 2 - Going Concern and Contingencies

NOTE 2: GOING CONCERN AND CONTINGENCIES

Going Concern

As shown in the accompanying financial statements, we have incurred losses in each year since inception and have a working capital deficit of $312,904, and an accumulated deficit of $1,276,103 as of September 30, 2017. These conditions raise substantial doubt as to our ability to continue as a going concern.

In response to these conditions, we may raise additional capital through the sale of equity securities, through an offering of debt securities or through borrowings from financial institutions or individuals. The financial statements do not include any adjustments that might be necessary if we are unable to continue as a going concern.

Repayment of investment from Sister Corp

There is an informal agreement between Social Quotient, Inc. (“SQI”), the company’s affiliate (sister corp.) and the Company that calls for the company to give recognition to SQI for the equity contributed to the company “from inception to the future date in which the company might be engaged in a merger or change in control”. The amount of consideration contingently due from the company was $95,224 at September 30, 2017 and December 31, 2016. This contingent liability amount can be satisfied in cash (minimum), or currently $.02 per share; debt; or equity conversion in the event of a merger or transaction in which there is a change in Control.

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Note 3 - Related Party Transactions and Relationships

9 Months Ended

Sep. 30, 2017

Notes

Note 3 - Related Party Transactions and Relationships

NOTE 3: RELATED PARTY TRANSACTIONS AND RELATIONSHIPS

All directors of the company are related parties. IceLounge Media, Inc. “ILMI” funded 100% of the development of the Momscorner.com website prior to December 31, 2013. ILMI spun off the website to the Company. All amounts due to related parties were converted to stock in 2013 by prior agreement. The stock fair value was determined to be $0.5168 per share, based on the fair values of the website and the anticipated public filing.

During the nine months ended September 30, 2017, the Company recognized $37,500 in platform lease expense due to ILMI and paid back $17,939. During the nine months ended September 30, 2016, ILMI paid net expenses on behalf of the Company of $13,665, respectively. As of September 30, 2017 and December 31, 2016, the outstanding amounts due to parent were $181,449 and $161,888, respectively.

In addition, Social Quotient Inc. paid $0 and $6,228 of expenses, respectively, for and in behalf of the Company, for the nine months ended September 30, 2017 and 2016, which were accounted for as paid in capital. The Company re-paid SQI $0 and $15,000, during the nine months ended September 30, 2017 and 2016, respectively.

On June 6, 2016 the Board of Directors of IMLI agreed to transfer from its own holdings of the company’s common stock, 25,000 shares to a company shareholder because he was the first to invest in all three of the IMLI family of companies.

The Company licenses its technology platform from ILMI, under an Agreement which calls for an automatic 12 month renewal each year on October 1, and a monthly lease payment of $4,167. The company accrued $37,500 for platform lease expense for each of the nine month periods ended September 30, 2017 and 2016.

WB Capital, a related party with common principal ownership, provides Merger & Acquisition and project management services to the Company as a consultant. There is no written agreement governing the relationship. The Company accrued $2,500 a month for these services. Due to the Company’s lack of available cash, the amounts were not paid during either of the nine months ended September 30, 2017 or 2016. The Company owed WB Capital $82,500 as of September 30, 2017.

Scott E. Lybbert, prior CFO, provided accounting and reporting services to the Company as a consultant. There was no written agreement governing the relationship. For the nine months ended September 30, 2016, the Company accrued $12,708, for Lybbert’s services (no amounts were accrued for the nine months ended September 30, 2017). During the nine months ended September 30, 2017, the Company paid back $5,850. Mr. Lybbert passed away in February 2017. As of September 30, 2017, $17,858 was owed to Mr. Lybbert’s estate.

The company paid a former financial consultant, who began working for the company at the end of the first quarter of 2016 and is appointed to the Board of Directors on May 26, 2017. The company had accrued invoices from this consultant in the amount of $13,200 for the year ended December 31, 2016, of which all $13,200 has been paid back.

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Note 4 - Website and Intangible Assets

9 Months Ended

Sep. 30, 2017

Notes

Note 4 - Website and Intangible Assets

NOTE 4: WEBSITE AND INTANGIBLE ASSETS

Since inception, most of the Company’s resources have been focused on creating its business model and related website. Certain costs incurred in development of our website were capitalized with a total of $17,831 allocated to our website development in 2013. In 2014, the Company enhanced its website with mobile-enabled features and functionality. Consequently, $68,655 additional costs were capitalized to the website in 2014. No additional amounts have been capitalized since 2014. The Company began amortizing its capitalized website costs of $86,486 on January 1, 2015, over its estimated useful life of three years. The Company recognized amortization expense of $21,621 and $21,621, for the nine months ended September 30, 2017 and 2016, respectively.

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Note 5 - Equity

9 Months Ended

Sep. 30, 2017

Notes

Note 5 - Equity

NOTE 5: EQUITY

Common stock

The authorized capital stock of the Company consists of 75,000,000 shares of Common stock, par value $.001 per share, of which 4,770,674 were outstanding as of September 30, 2017.

The holders of Common Stock are entitled to one vote per share on each matter submitted to a vote at any meeting of shareholders. Shares of Common Stock do not carry cumulative voting rights and, therefore, a majority of the shares of outstanding Common Stock will be able to elect the entire board of directors and, if they do so, minority shareholders would not be able to elect any persons to the board of directors. Moms Online’s bylaws provide that a majority of the issued and outstanding shares of Moms Online constitutes a quorum for shareholders’ meetings.

Shareholders of Moms Online have no preemptive rights to acquire additional shares of Common Stock or other securities. The Common Stock is not subject to redemption and carries no subscription or conversion rights. In the event of liquidation of Moms Online, the shares of Common Stock are entitled to share equally in corporate assets after satisfaction of all liabilities.

Holders of Common Stock are entitled to receive such dividends, as the board of directors may from time to time declare out of funds legally available for the payment of dividends. Moms Online seeks growth and expansion of its business through the reinvestment of profits, if any, and does not anticipate that we will pay dividends in the foreseeable future.

During the nine months ended September 30, 2017, the company recognized $18,750 of deferred stock compensation to recognize three quarters of a four year stock compensation agreement calling for the payment of 100,000 shares. These shares have not been issued yet due to a yet unfulfilled vesting clause, and are accounted for as a deferred compensation component of paid in capital. The company also recognized $15,000 of deferred stock compensation to recognize three quarters of a two year stock compensation agreement calling for the payment of 40,000 shares. These shares have not been issued yet due to a yet unfulfilled vesting clause, and are accounted for as a deferred compensation component of paid in capital. The company also recognized $7,500 of deferred stock compensation to recognize three quarters of a two year stock compensation agreement calling for the payment of 20,000 shares. These shares have not been issued yet due to a yet unfulfilled vesting clause, and are accounted for as a deferred compensation component of paid in capital.

As of September 30, 2017, the Company issued an aggregate of 15,000 restricted shares to a third party contractor, for services. The Company recorded professional fees expense of $15,000 for these shares. The related agreement specifies 40,000 shares will be issued over a two year period, upon completion of certain milestones.

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Note 2 - Going Concern and Contingencies (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Details
Accumulated deficit	$ (1,276,103)	$ (1,020,660)

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Note 3 - Related Party Transactions and Relationships (Details) - USD ($)	9 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Outstanding amounts due to parent	$ 181,449		$ 161,888
Platform Lease Expense accrued during period	$ 37,500	$ 37,500
Consulting fees			$ 13,200
Transaction 1
Related Party Transaction, Description of Transaction	During the nine months ended September 30, 2017, the Company recognized $37,500 in platform lease expense due to ILMI and paid back $17,939. During the nine months ended September 30, 2016, ILMI paid net expenses on behalf of the Company of $13,665, respectively.
Transaction 3
Related Party Transaction, Description of Transaction	On June 6, 2016 the Board of Directors of IMLI agreed to transfer from its own holdings of the company’s common stock, 25,000 shares to a company shareholder

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Note 4 - Website and Intangible Assets (Details) - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Details
Amortization of website costs	$ 21,621	$ 21,621

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Note 5 - Equity (Details) - USD ($)	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Details
Common Stock, Shares Authorized	75,000,000	75,000,000
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares, Outstanding	4,770,674	4,755,674
Deferred Compensation Equity	$ 18,750
Stock Issued During Period, Shares, Restricted Stock Award, Gross	15,000
Stock Issued During Period, Value, Restricted Stock Award, Gross	$ 15,000