1. Nature of Operations and Continuance of Business
Scoop Media, Inc. (the Company) was incorporated in the state of Nevada on March 18, 2011. The Company complies with ASC 915-15 and has been in the development stage since its formation and has not commenced business operations.
These financial statements have been prepared on a going concern basis, which implies the Company will continue to realize it assets and discharge its liabilities in the normal course of business. During the period ended August 31, 2012, the Company has an accumulated deficit of $50,567. The Company is in the business of developing a website that will provide reviews and information on online dating sites. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary equity financing to continue operations, and the attainment of profitable operations. These factors raise substantial doubt regarding the Companys ability to continue as a going concern. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.