10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C.  20549

FORM 10-Q

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

For the quarterly period ended September 30, 2016

OR

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

For the transition period from : Not applicable

Commission file number 0-4454

INTERDYNE  COMPANY

 (Exact name of registrant as specified in its charter)

CALIFORNIA	95-2563023
(State or other jurisdiction of incorporation or organization)	(I.R.S.  Employer Identification No.)

26 Briarwood, Irvine, California	92604
(Address of principal executive offices)	(Zip 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 Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒  No ☐

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 definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer ☐	Accelerated filer☐
Non-accelerated filer☐	Smaller reporting company☒
(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 ☒ No ☐

As of September 30, 2016, there were 39,999,942 shares of Common Stock, no par value, issued and outstanding.

Exhibit Index Page No. 8

INTERDYNE COMPANY

FORM 10-Q

INDEX

		Page
PART I.   FINANCIAL INFORMATION
Item 1.	Financial Statements
	Balance Sheets as of September 30, 2016 and June 30, 2016	3
	Statements of Operations for the Quarters ended September 30, 2016 and 2015	4
	Statements of Cash Flows for the Quarters ended September 30, 2016 and 2015	5
	Notes to Financial Statements	6
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	6
Item 3.	Quantitative and Qualitative Disclosures about Market Risk	6
Item 4.	Controls and Procedures.	6
PART II.  OTHER INFORMATION
Item 6.	Exhibits	8
Signatures		9

2

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

INTERDYNE COMPANY

BALANCE SHEETS

	9/30/2016			6/30/2016
	(Unaudited)			(Audited)
ASSETS
CURRENT ASSETS
Cash	$	169,722		$	2,065
Due from related party		-			194,104
Total current assets	$	169,722		$	196,169
TOTAL ASSETS	$	169,722		$	196,169
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accrued professional fees	$	4,046		$	6,600
Accrued management fees to related party		3,000			21,500
Other accrued expenses		4,614			4,615
Total current liabilities	$	11,660		$	32,715
STOCKHOLDERS' EQUITY
Preferred stock, no par value, 50,000,000 shares authorized; 0 share issued and outstanding		-			-
Common stock, no par value, 100,000,000 shares authorized; 39,999,942 shares issued and outstanding as of 9/30/2016 and 6/30/2016, respectively	$	500,000		$	500,000
Accumulated deficit		(341,938	)		(336,546	)
TOTAL STOCKHOLDERS' EQUITY	$	158,062		$	163,454
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	169,722		$	196,169

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

3

INTERDYNE COMPANY

STATEMENTS OF OPERATIONS

	Three Months Ended
	9/30/2016			9/30/2015
	(Unaudited)			(Unaudited)
OPERATING EXPENSES:
Professional fees	$	2,296		$	3,500
General and administrative		1,896			1,986
Management fees to related party		1,500			1,500
Total expenses		5,692			6,986
OPERATING LOSS		(5,692	)		(6,986	)
OTHER INCOME:
Interest from related party		1,100			4,070
Total other income		1,100			4,070
LOSS BEFORE INCOME TAXES		(4,592	)		(2,916	)
INCOME TAXES EXPENSE		(800	)		(800	)
NET LOSS	$	(5,392	)	$	(3,716	)
NET LOSS PER COMMON SHARE
BASIC AND DILUTED	$	(0.00	)	$	(0.00	)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
BASIC AND DILUTED		39,999,942			39,999,942

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

4

INTERDYNE COMPANY

STATEMENTS OF CASH FLOWS

	Three Months Ended
	9/30/2016			9/30/2015
	(Unaudited)			(Unaudited)
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$	(5,392	)	$	(3,716	)
Adjustments to reconcile net loss to net cash used in operating activities
Changes in operating assets and liabilites
Interest due from related party		(1,100	)		(4,070	)
Accrued expenses		(21,055	)		3,260
Net cash used in operating activities		(27,547	)		(4,526	)
CASH FLOWS FROM INVESTING ACTIVITIES
Cash received from related party		195,204			9,000
Net cash provided by investing activities		195,204			9,000
NET INCREASE IN CASH		167,657			4,474
CASH, BEGINNING OF PERIOD		2,065			7,565
CASH, END OF PERIOD	$	169,722		$	12,039
Supplemental Cash Flow Disclosures:
Income taxes paid	$	800		$	800
Interest paid	$	-		$	-

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

5

INTERDYNE COMPANY

NOTES TO UNAUDITED FINANCIAL STATEMENTS

Note 1.  Interim Financial Statements

The accompanying financial statements are unaudited, but in the opinion of the management of Interdyne Company (“the Company”), contain all adjustments, consisting of only normal recurring accruals, necessary to present fairly the financial position at September 30, 2016 and the results of operations for the three months ended September 30, 2016 and 2015 and changes in cash flows for the three months ended September 30, 2016 and 2015.  Certain information and footnote disclosures normally included in financial statements that have been prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission, although management of the Company believes that the disclosures contained in these financial statements are adequate to make the information presented therein not misleading.  For further information, refer to the financial statements and footnotes thereto included in the Company's Annual Report in Form 10-K as of June 30, 2016, as filed with the Securities and Exchange Commission.  The results of operations for the three months ended September 30, 2016 are not necessarily indicative of the results of operations to be expected for the full fiscal year ending June 30, 2017.

Note 2.  Changes in Significant Accounting Policies

There are no newly issued accounting pronouncements that the Company expects to have a material effect on the financial statements and there have been no changes in the significant accounting policies.

Note 3. Related party transactions

In prior years, the Company made advances to Acculogic, Inc., an affiliated company through common ownership and management.  The advances bear interest at 8.5% per annum, payable on demand.  The balance, including interest, was guaranteed by AMT Datasouth Corp., an affiliated company controlled by the CEO of the Company.  The balances due from Acculogic, Inc. as of September 30, 2016 and June 30, 2016 were $0 and $194,104, respectively. During the three months ended September 30, 2016, the total amount due from Acculogic, Inc. was repaid in full and consequently the guarantee ceased to be valid.

An officer of the Company charged a management fee totaling $1,500 for each of the three months ended September 30, 2016 and 2015 for the use of a home office, accounting and other services. The balances due to this officer were $3,000 and $21,500 as of September 30, 2016 and June 30, 2016, respectively.

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

The Company is at present dormant and is looking for new opportunity.

The cash needs of the Company will be funded by collections from amount due from its affiliate.

Item 3 Quantitative and Qualitative Disclosures about Market Risk

N/A

Item 4. Controls and Procedures

Our management, comprising the Chief Executive Officer and Chief Financial Officer/Principal Accounting Officer, is responsible for establishing and maintaining disclosure controls and procedures for the Company.  It has designed such disclosure controls and procedures to ensure that material information is made known to it, particularly during the period in which this report was prepared.

6

As of the end of the period covered by this report, our management carried out an evaluation 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) under the Securities Exchange Act of 1934 (or Exchange Act)).  Based on this evaluation, as of the end of the period covered by this report, our management has concluded that our disclosure controls and procedures are not effective considering the fact that the Company, being dormant, has only one person on staff, the Chief Financial Officer/Principal Accounting Officer, to (1) handle all accounting transactions (consisting of primarily collecting funds from a related party and paying all expenses, including fees to this same officer); (2) reconcile the bank account, and (3) prepare all financial statement disclosures. The above duties have no supervision or review to insure proper segregation of duties and review of disclosures. As a result, material weaknesses over disclosure controls and procedures exist.

Our management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Exchange Act Rule 13a-15(f).  Our management conducted an evaluation of the effectiveness of our internal control over financial reporting as of September 30, 2016 based on the criteria set forth in Internal Control - Integrated Framework issued by the Committee of Sponsoring Organization of the Treadway Commission.  Based on this evaluation, our management has concluded that our internal control over financial reporting was not effective as of June 30, 2016 considering the fact that the Company, being dormant, has only one person on staff to handle all duties of the Company. There is no supervision or review to insure proper internal control over financial reporting. As a result, material weakness over internal control over financial reporting exists.

Our independent auditors have not audited and are not required to audit this assessment of our internal control over financial reporting for the period covered by this report.

During our most recent fiscal three months, there has not occurred any change in our internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

7

PART II. OTHER INFORMATION

Item 1. Legal Proceedings

None

Item 1A. Risk Factors.

None

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

None

Item 3. Defaults upon Senior Securities.

None

Item 4. Submission of Matters to a Vote of Security Holders.

None.

Item 5. Other Information.

None

Item 6. Exhibits

a.	31.1	Certification of the Company's Chief Executive Officer, Sun Tze Whang, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
b.	31.2	Certification of the Company's Chief Financial Officer/Principal Accounting Officer, Kit H. Tan, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
c.	32	Certification of the Company's Chief Executive Officer and Chief Financial Officer/Principal Accounting Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
d.	101.INS	XBRL Instance Document
e.	101.SCH	XBRL Taxonomy Extension Schema Document
f.	101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
g.	101.LAB	XBRL Taxonomy Extension Label Linkbase Document
h.	101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document

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.

INTERDYNE COMPANY
(Registrant)
Date : November 9, 2016	By:	/s/Sun Tze Whang
		Sun Tze Whang
Director/Chief Executive Officer
	By:	/s/Kit H. Tan
	Kit H. Tan
Director/Chief Financial Officer/Principal Accounting Officer

9

EX-31.1

Exhibit 31.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER

I, Sun Tze Whang, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Interdyne Company;

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 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. The registrant's other certifying officer 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: November 9, 2016	/s/ Sun Tze Whang
	Sun Tze Whang
	Director/Chief Executive Officer

EX-31.2

Exhibit 31.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER/PRINCIPAL ACCOUNTING OFFICER

I, Kit H. Tan, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Interdyne Company;

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 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. The registrant's other certifying officer 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: November 9, 2016	/s/ Kit H. Tan
	Kit H. Tan
	Director/Chief Financial Officer/Principal Accounting Officer

EX-32

Exhibit 32

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 Interdyne Company on Form 10-Q for the quarter ended September 30, 2016 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), Sun Tze Whang, Chief Executive Officer, and Kit H. Tan, Chief Financial Officer/Principal Accounting Officer, of the Company, 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 Report fully complies with the requirements of section 3(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 result of operations of the Company.

Date: November 9, 2016	/s/ Sun Tze Whang
	Sun Tze Whang
	Director/Chief Executive Officer
	/s/ Kit H. Tan
	Kit H. Tan
	Director/Chief Financial Officer/Principal Accounting Officer

XML

Document and Entity Information	3 Months Ended
	Sep. 30, 2016 shares
Document And Entity Information
Entity Registrant Name	INTERDYNE CO
Entity Central Index Key	0000051011
Current Fiscal Year End Date	--09-30
Entity Filer Category	Smaller Reporting Company
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q1
Entity Common Stock, Shares Outstanding	39,999,942
Entity a Well-known Seasoned Issuer	No
Entity a Voluntary Filer	No
Entity's Reporting Status Current	Yes
Amendment Flag	false

XML

Balance Sheets - USD ($)	Sep. 30, 2016	Jun. 30, 2016
CURRENT ASSETS:
Cash	$ 169,722	$ 2,065
Due from related party		194,104
Total current assets	169,722	196,169
TOTAL ASSETS	169,722	196,169
CURRENT LIABILITIES:
Accrued professional fees	4,046	6,600
Accrued management fees to related party	3,000	21,500
Other accrued expenses	4,614	4,615
Total current liabilities	11,660	32,715
STOCKHOLDERS' EQUITY:
Preferred stock, no par value; 50,000,000 shares authorized; 0 shares issued and outstanding
Common stock, no par value; 100,000,000 shares authorized; 39,999,942 shares issued and outstanding as of 9/30/2016 and 6/30/2016, respectively	500,000	500,000
Accumulated deficit	(341,938)	(336,546)
Total stockholders' equity	158,062	163,454
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 169,722	$ 196,169

XML

Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2016	Jun. 30, 2016
Statement of Financial Position [Abstract]
Preferred stock, par value
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	39,999,942	39,999,942
Common stock, shares outstanding	39,999,942	39,999,942

XML

Statements of Operations - USD ($)	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
OPERATING EXPENSES:
Professional fees	$ 2,296	$ 3,500
General and administrative	1,896	1,986
Management fees to related party	1,500	1,500
Total expenses	5,692	6,986
OPERATING LOSS	(5,692)	(6,986)
OTHER INCOME:
Interest from related party	1,100	4,070
Total other income	1,100	4,070
LOSS BEFORE INCOME TAXES	(4,592)	(2,916)
INCOME TAX EXPENSE	(800)	(800)
NET LOSS	$ (5,392)	$ (3,716)
NET LOSS PER COMMON SHARE
BASIC AND DILUTED	$ (0.00)	$ (0.00)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
BASIC AND DILUTED	39,999,942	39,999,942

XML

Statements of Cash Flows - USD ($)	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (5,392)	$ (3,716)
Changes in operating assets and liabilities:
Interest due from related party	(1,100)	(4,070)
Accrued expenses	(21,055)	3,260
Net cash used in operating activities	(27,547)	(4,526)
CASH FLOWS FROM INVESTING ACTIVITIES:
Cash received from related party	195,204	9,000
Net cash provided by investing activities	195,204	9,000
Net increase/ (decrease) in cash	167,657	4,474
CASH, BEGINNING OF YEAR	2,065	7,565
CASH, END OF YEAR	169,722	12,039
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Income taxes paid	800	800
Interest paid	$ 0	$ 0

XML

Interim Financial Statements

3 Months Ended

Sep. 30, 2016

Interim Financial Statements [Abstract]

Interim Financial Statements

Note 1.  Interim Financial Statements

The accompanying financial statements are unaudited, but in the opinion of the management of Interdyne Company (“the Company”), contain all adjustments, consisting of only normal recurring accruals, necessary to present fairly the financial position at September 30, 2016 and the results of operations for the three months ended September 30, 2016 and 2015 and changes in cash flows for the three months ended September 30, 2016 and 2015.  Certain information and footnote disclosures normally included in financial statements that have been prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission, although management of the Company believes that the disclosures contained in these financial statements are adequate to make the information presented therein not misleading.  For further information, refer to the financial statements and footnotes thereto included in the Company's Annual Report in Form 10-K as of June 30, 2016, as filed with the Securities and Exchange Commission.  The results of operations for the three months ended September 30, 2016 are not necessarily indicative of the results of operations to be expected for the full fiscal year ending June 30, 2017.

XML

Changes in Significant Accounting Policies

3 Months Ended

Sep. 30, 2016

Changes in Significant Accounting Policies [Abstract]

Changes in Significant Accounting Policies

Note 2.  Changes in Significant Accounting Policies

There are no newly issued accounting pronouncements that the Company expects to have a material effect on the financial statements and there have been no changes in the significant accounting policies.

XML

Related Party Transactions

3 Months Ended

Sep. 30, 2016

Related Party Transactions [Abstract]

Related Party Transactions

Note 3. Related party transactions

In prior years, the Company made advances to Acculogic, Inc., an affiliated company through common ownership and management.  The advances bear interest at 8.5% per annum, payable on demand.  The balance, including interest, was guaranteed by AMT Datasouth Corp., an affiliated company controlled by the CEO of the Company.  The balances due from Acculogic, Inc. as of September 30, 2016 and June 30, 2016 were $0 and $194,104, respectively. During the three months ended September 30, 2016, the total amount due from Acculogic, Inc. was repaid in full and consequently the guarantee ceased to be valid.

An officer of the Company charged a management fee totaling $1,500 for each of the three months ended September 30, 2016 and 2015 for the use of a home office, accounting and other services. The balances due to this officer were $3,000 and $21,500 as of September 30, 2016 and June 30, 2016, respectively.

XML

Related Party Transactions (Details Narrative) - USD ($)	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2016
Related Party Transactions [Abstract]
Interest rate on advances to related party	8.50%
Due from related party, balances			$ 194,104
Management fees to company officer	$ 1,500	$ 1,500