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

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

Commission File Number

 

Nevada		27-1065441
(State or other jurisdiction of incorporation or organization)		(IRS Employer Identification No.)

 

 

 

 

Large accelerated filer   o	Accelerated filer   o	Non-accelerated filer   o	Smaller reporting company   þ
		(Do not check if a smaller reporting company)

 

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AS OF MAY 31, 2012 AND AUGUST 31, 2011

 

		As of
		May 31, 2012				August 31, 2011
Assets:		(Unaudited)				(Audited)
Current Assets:
Cash		$	2,185			$	1,466
Total Assets		$	2,185			$	1,466
Liabilities and Shareholders' Equity:
Current Liabilities:
Accrued expense		$	-			$	0
Payable to a related party			21,094				10,513
Total Liabilities			21,094				10,513
Shareholders' Equity;
Common Stock, 75,000,000 shares authorized ( par value $.001) and 755,000 shares issued and outstanding as of May 31, 2012 and August 31, 2011, respectively			755				755
Paid in capital			47,745				47,745
Deficits accumulated  during the development stage			(65,295	)			(57,547	)
			(16,795	)			(9,047	)
Total Liabilities and Shareholders' Equity		$	(4,299	)		$	1,466

 

 

		3 Months Ended May 31, 2012				3 Months Ended May 31, 2011				9 Months Ended May 31, 2012				9 Months Ended May 31, 2011				Cumulative from Sept 10, 2009 ( the date of inception) to Feb 29, 2012
Revenue		$	-				-				-				-			$	-
Operating Expenses:
Organization Fees			-				-				325				233				3,507
Filing Fees			-				-				114				-				423
Legal and audit			-				-				-				1,952				6,282
Professional Services			4,831				4,309				7,343				15,659				27,293
Service paid in stock			-				-				-				-				27,500
Bank Fees			16				40				80				122				290
Total Operating Expenses:			4,847				4,349				7,862				17,966				65,295
Income ( Loss) before income taxes			(4,847	)			(4,349	)			(7,862	)			(17,966	)			(65,295	)
Provision for income taxes			-				-				-				-				-
Net loss		$	(4,847	)			(4,349	)			(7,862	)			(17,966	)		$	(65,295	)
Net loss per share ( basic and diluted)		$	(0.006	)			(0.014	)			(0.010	)			(0.056	)		$
Weighted average common shares ( basic and diluted)			755,000				319,803				755,000				319,803

 

 

 

 

		Number of Common Shares				Amount				Additional Paid-In Capital				Deficit Accumulated during development stage				Total
Pre-Inception Balance			-			$	-			$	-			$	-			$	-
Common Stock Issued for Cash $.01 per share, Oct 2009			200,000				200				1,800				-				2,000
Stock issued for service, April 2010			275,000				275				27,225				-				27,500
Common Stock Issued for Cash $.01 per share., May 2010			100,000				100				900				-				1,000
Common Stock Issued for Cash $.10 per share, August 2010			130,000				130				12,870				-				13,000
Net Loss for the Period			-				-				-				(35,242	)			(35,242	)
Balance as of August 31, 2010			705,000				705				42,795				(35,242	)			8,258
Common stock issued for Cash @ $.10 per share, Sept 2010			50,000				50				4,950				-				5,000
Net loss for the year ended August 31, 2011			-				-				-				(22,305	)			(22,305	)
Balance as of August 31, 2011			755,000				755				47,745				(57,547	)			(9,047	)
Net loss for the period			-				-				-				(7,862	)			(7,862	)
Balance as of May 31, 2012			755,000				755				47,745				(65,295	)			(65,295	)

 

 

 

		9-months ended May 31, 2012				9-months ended May 31, 2011				Cumulative since September 10, 2009 ( inception) to February 29, 2012
Cash Flows From
Operating Activities							-
Net loss		$	(7,862	)			(17,966	)		$	(65,295	)
Adjustments to reconcile net income (loss)
to net cash (used in) operations			-				-				-
Common stock issued for service rendered			-				-				27,500
Changes in operating assets and liailities			-				-				-
Increase (decrease) in accrued expense			-				-				-
Net Cash provided by (used in) operations			(7,862	)			(17,966	)			(37,795	)
Cash Flows From
Investing Activities
Net cash provided by investing activities			-				-				-
Cash Flows From
Financing Activities
Issuance of Common Stock			-				-				21,000
Borrowing from a related party			8,581				7,000				21,094
Net cash provided by  financing activities			8,581				7,000				42,094
Net increase (decrease)			719				(10,966	)			4,299
Cash at the Beginning of the Period:			1,466				18,470				-
							1,547
Cash at the End of the Period		$	2,185				7,504			$	4,299
Noncash investing and financiaing activities:
Common stock issued for services rendered		$	-				-			$	27,500
Supplemental Disclosures of
Cash Flow Information
Interest paid		$	-				-			$	-
Income taxes paid		$	-				-			$	-

 

 

 

 

 

The interim audited financial statements included in this document have been prepared on the same basis as the annual financial statements and in management's opinion, reflect all adjustments, including normal recurring adjustments, necessary to present fairly the Company's financial position, results of operations and cash flows for the interim periods presented.

 

The Company's financial statements have been prepared using accounting principles generally accepted in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has historically incurred losses, which raises substantial doubt about the Company's ability to continue as a going concern. The accompanying financial statements do not include any adjustments relating to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might result from the outcome of this uncertainty.

 

The preparation of financial statements in conformity with generally accepted accounting principles accepted in the United States of America 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 of the financial statements and the reported amounts of revenues and expenses during the reporting period. In the opinion of management, all adjustments necessary in order to make the financial statements not misleading have been included. Actual results could differ from those estimates.

 

 

 

 

In April 2009, the FASB issued FASB ASC 825-10-50 and FASB ASC 270 ("FSP 107-1 AND APB 28-1 Interim Disclosures About Fair Value Of Financial Instruments"), which increases the frequency of fair value disclosures to a quarterly basis instead of on an annual basis. The guidance relates to fair value disclosures for any financial instruments that are not currently reflected on an entity's balance sheet at fair value. FASB ASC 825-10-50 and FASB ASC 270 are effective for interim and annual periods ending after August 31, 2010. The adoption of FASB ASC 825-10-50 and FASB ASC 270 did not have a material impact on results of operations, cash flows, or financial position.

 

We account for non-employee stock-based compensation in accordance with ASC 718 and ASC Topic 505 ("ASC 505"). ASC 718 and ASC 505 require that we recognize compensation expense based on the estimated fair value of stock-based compensation granted to non-employees over the vesting period, which is generally the period during which services are rendered by the non-employees.

 

 

 

Earnings per share is computed in accordance with the provisions of Financial Accounting Standards (FASB) Accounting Standards Codification (ASC) Topic 260 (SFAS No. 128, "Earnings Per Share"). Basic net income (loss) per share is computed using the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed using the weighted-average number of common shares outstanding during the period, as adjusted for the dilutive effect of the Company's outstanding convertible shares using the "if converted" method and dilutive potential common shares. Potentially dilutive securities include warrants, convertible stock, restricted shares, and contingently issuable shares.

 

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

 

 

 

 

Future issuances of the Company's equity or debt securities will be required in order for the Company to continue to finance its operations and continue as a going concern. The Company's present revenues are insufficient to meet operating expenses. The financial statement of the Company have been prepared assuming that the Company will continue as a going concern, which contemplates, among other things, the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has incurred cumulative net losses of $ 60,448 since its inception and requires capital for its contemplated operational and marketing activities to take place. The Company's ability to raise additional capital through the future issuances of common stock is unknown. The obtainment of additional financing, the successful development of the Company's contemplated plan of operations, and its transition, ultimately, to the attainment of profitable operations are necessary for the Company to continue operations. The ability to successfully resolve these factors raise substantial doubt about the Company's ability to continue as a going concern. The financial statements of the Company do not include any adjustments that may result from the outcome of these aforementioned uncertainties.

 

Subsequent Event - The Company has performed an evaluation of subsequent events in accordance with ASC Topic 855. The Company is not aware of any subsequent events which would require recognition or disclosure in the financial statements.