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XML - IDEA: XBRL DOCUMENT - Jetblack CorpR2.htm
EXCEL - IDEA: XBRL DOCUMENT - Jetblack CorpFinancial_Report.xls
XML - IDEA: XBRL DOCUMENT - Jetblack CorpR8.htm
XML - IDEA: XBRL DOCUMENT - Jetblack CorpR4.htm
10-K - FORM 10-K - Jetblack Corpjtbk_10k.htm
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EX-31.1 - CERTIFICATION - Jetblack Corpjtbk_ex311.htm
EX-32.1 - CERTIFICATION - Jetblack Corpjtbk_ex321.htm
v2.4.0.6
NATURE OF BUSINESS
12 Months Ended
Aug. 31, 2012
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
NOTE 1 - NATURE OF BUSINESS

Jetblack Corp. (the “Company") was incorporated under the name Tortuga Mexican Imports in Nevada on April 17, 2002, to sell jewelry, furniture and other Mexican handcrafted products. On June 1, 2006 the Company acquired Tortuga Mexican Imports Canada Inc. ("Tortuga Canada"), a Canadian private company incorporated under the federal laws of Canada. Effective March 15, 2010, the Company changed its name from Tortuga Mexican Imports Inc. to Jetblack Corp., by way of a merger with the Company’s wholly owned subsidiary Jetblack Corp., which was formed solely for the change of name.

 

Going concern

 

These financial statements have been prepared in accordance with United States generally accepted accounting principles, on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. As at August 31, 2012, the Company had working capital of $13,024 and had incurred losses since inception of $182,823. Further losses are anticipated in the development of its business and there can be no assurance that the Company will be able to achieve or maintain profitability, raising substantial doubt about the Company’s ability to continue as a going concern.

 

The continuing operations of the Company and the recoverability of the carrying value of assets is dependent upon the ability of the Company to obtain necessary financing to fund its working capital requirements, and upon future profitable operations. The accompanying financial statements do not include any adjustments relative 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.

 

There can be no assurance that capital will be available as necessary to meet the Company's working capital requirements or, if the capital is available, that it will be on terms acceptable to the Company. The issuances of additional equity securities by the Company may result in dilution in the equity interests of its current stockholders. Obtaining commercial loans, assuming those loans would be available, will increase the Company's liabilities and future cash commitments. If the Company is unable to obtain financing in the amounts and on terms deemed acceptable, the business and future success may be adversely affected.