Nature and Continuance of Operations
The Company was incorporated in the State of Nevada, United States of America on October 12, 2005, and its fiscal year-end is September 30. The Company was in the development stage and has acquired the rights to a software package named LargeFilesASAP software and the LargeFilesASAP.com domain name. In December 2009, the Company had a change in management; it ceased pursuing the software venture, returned the rights to a related party in exchange for assumption of debt, and is currently in the market for an acquisition or merger. To date, no revenues have been generated.
These financial statements have been prepared on a going concern basis. The Company has a negative working capital deficit of $162,457 as of September 30, 2012 and has accumulated a deficit of $309,347 since inception. Further losses are anticipated in developing the Companys business plans. The ability to continue as a going concern is dependent upon raising the necessary capital to develop its business, meet its obligations and repay its liabilities arising from normal business operations when they come due and ultimately upon generating profitable operations. The outcome of these matters cannot be predicted with any certainty at this time. These factors raise substantial doubt that the Company will be able to continue as a going concern. Management plans to continue to provide for its capital needs by the issuance of common stock and related party advances. These financial statements do not include any adjustments to the amounts and classification of assets and liabilities that may be necessary should the Company be unable to continue as a going concern.