U.S. Securities and Exchange Commission

Washington, D.C. 20549

FORM 10-Q

[ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES AND EXCHANGE ACT OF 1934

For the quarterly period ended October 31, 2015

or

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

For the transition period from _____________________

Commission File No. 333-136981

 

Gold Dynamics Corp.

(Name of small business issuer in its charter)

 

Nevada

(State of Incorporation)

 

N/A

(I.R.S. Employer Identification No.)

 

2248 Meridian Blvd. Ste H Minden, NV 89423

(Address of principal executive offices)

 

949-419-6588

(Registrant's telephone number, including area code)

 

N/A

(Former name, address and fiscal year, if changed since last report)

 

 

Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 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.

[X]Yes [ ]No

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.045 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

[ ]Yes [X]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 the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer [ ]

Accelerated filer [ ]

Non-accelerated filer [ ]

Small Reporting Company [X]

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

[ ]Yes [X]No

 

The number of shares outstanding of the Registrant's common stock, par value $.001 per share, at October 31, 2015 was 148,850,000 shares.

 

 

Part I - FINANCIAL INFORMATION

 

Gold Dynamics Corp.
(A Development Stage Company)
Balance Sheets
       
  October 31, 2015   July 31, 2015
  (Unaudited)   (Audited)
ASSETS      
Current Assets      
Cash and Cash Equivalents  $                            -    $                   -
TOTAL CURRENT ASSETS  $                            -    $                   -
       
TOTAL ASSETS  $                            -    $                   -
       
LIABILITIES AND STOCKHOLDERS' EQUITY      
       
Current Liabilities      
Accounts Payable & Accrued Liabilities  $                  4,250    $         3,900
TOAL CURRENT LIABILITIES 4,250   3,900
       
Long Term Liabilities      
Long Term Debt  $                  78,227    $                  78,227
Shareholder Loan  $                  15,937    $                  15,937
TOTAL LONG TERM LIABILITIES 98,414   98,064
       
Stockholders' Equity      
Preferred Stock, $0.001 par value      
50,000,000 authorized, none issued and outstanding                  -              -
Common stock, $0.001 par value, Authorized : 500,000,000, common shares 103,250,000 shares issued and outstanding          11,100        11,100
Additional paid in capital         64,900       64,900
(Deficit) accumulated during the development stage    (174,414)    (174,064)
       
TOTAL STOCKHOLDERS' DEFICIT  $                 (98,414)    $        (98,064)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT  $                            -    $                   -
       
       
See Accompanying Notes to Financial Statements
 

 

 

 

 

Gold Dynamics Corp.
(A Development Stage Company)
Statements of Operations
For the Three Months Ended October 31, 2015 and 2014
                 
                 
              For the Three
Months Ended
              October 31, October 31,
              2015 2014
                 
General and Administration Expenses      
  Professional Fees       $                  1,250 $                       -
  Bank charges and interest        
              1,250 -
Other Income /Expense        
  Loan Write Off       900 -
                 
Net (loss) for the period     $                   (350) $                         -
                 
Net (loss) per share          
  Basic and diluted       $                       - $                       -
                 
Weighted Average Number of Common      
  Shares Outstanding  - Basic and Diluted   148,850,000 148,850,000
                 
See Accompanying Notes to Financial Statements

 

 

Gold Dynamics Corp.
(A Development Stage Company)
Statements of Cash Flows
For the Three Months Ended October 31, 2015 and 2014
                 
                 
              For the Three
Months Ended
              October 31, October 31,
              2015 2014
                 
  Cash flow from Operating Activities    
    Net loss     $               (350) $                    -
                 
  Adjustments to reconcile net loss to net cash    
    used in operating activities:   - -
    Imputed interest        
  Changes in:        
    Long Term Debt   -  
    Accounts payable and accrued liabilities 350 -
  Net cash used for operating activities - -
                 
  Financing Activities      
    Long Term Debt      
    Additional Paid in Capital   - -
    Proceeds from shareholder loan - -
  Net cash provided by financing activities - -
                 
  Net change in cash   - -
                 
  Cash, Beginning of Period   - -
                 
  Cash,  End of Period   $                     - $                    -

 

See Accompanying Notes to Financial Statements

 

 

 

GOLD DYNAMICS CORP.

NOTES TO THE FINANCIAL STATEMENTS

October 31, 2015

Note 1: Organization and Basis of Presentation

 

Gold Dynamics Corp. (the “Company”) is a for profit corporation established under the corporation laws in the State of Nevada, United States of America on April, 2006.

 

The Company's primary operations began in April 2006 with an e-commerce focus and intends to become a producer of vitamin infused alcoholic beverages. As part of the change in operations, the Company has undergone a name change from Revo Ventures Inc. to Vita Spirits Corp to Gold Dynamics Corp. to better reflect the Company's new focus.

 

The Financial Statements and related disclosures as of October 31, 2015 are unaudited pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”). The October 31, 2015, Balance Sheet data was derived from unaudited financial statements and does not include all disclosures required by accounting principles generally accepted in the United States of America (“U.S.”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) have been condensed or omitted pursuant to such rules and regulations. In our opinion, these financial statements include all adjustments (consisting only of normal recurring adjustments) necessary for the fair statement of the results for the period. These financial statements should be read in conjunction with the financial statements included in our Quarterly Report for the period ended January 31, 2015. Unless the context otherwise requires, all references to “Gold Dynamics,” “we,” “us,” “our” or the “company” are to Gold Dynamics Corp. and any subsidiaries.

 

The Company’s fiscal year ends July 31.

 

 

Note 2: Recent Accounting Pronouncements

 

In December 2011, the FASB issued ASU 2011-11, Disclosures about Offsetting Assets and Liabilities, (“ASU 2011-11”). ASU 2011-11 requires an entity to disclose both gross information and net information about both instruments and transactions eligible for offset in the statement of financial position and instruments and transactions subject to an agreement similar to a master netting arrangement. ASU 201111 is effective for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods. Retrospective disclosure is required for all comparative periods presented. The adoption of ASU 2011-11 did not have a material impact on the Company’s financial statements.

 

In October 2012, the FASB issued ASU No. 2012-04, Technical Corrections and Improvements, (“ASU 2012-04”). This update includes source literature amendments, guidance clarification, reference corrections and relocated guidance affecting a variety of topics in the Codification. The update also includes conforming amendments to the Codification to reflect ASC 820’s fair value measurement and disclosure requirements. The amendments in this update that will not have transition guidance are effective upon issuance. The amendments in this update that are subject to the transition guidance will be effective for fiscal periods beginning after December 15, 2012. The adoption of ASU 2012-04 did not have a material impact on the Company’s financial statements.

 

In January 2013, the FASB issued ASU No. 2013-01, Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities (“ASU 2013-01”). This update clarifies that ordinary trade receivables and receivables are not in the scope of ASU No. 2011-11, Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities (“ASU 2011-11”). Specifically, ASU 2011-11 applies only to derivatives, repurchase agreements and reverse purchase agreements, and securities borrowing and securities lending transactions that are either offset in accordance with specific criteria contained in the FASB Accounting Standards Codification or subject to a master netting arrangement or similar agreement. The Company is required to apply the amendments in ASU 2013-01 beginning January 1, 2013. The adoption of ASU 2013-01 by the Company did not have a material impact on the consolidated financial statements.

 

In February 2013, the Financial Accounting Standards Board issued Accounting Standards Update, or ASU, 2013-02, Comprehensive Income (Topic 220), Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. This update requires companies to provide information regarding the amounts reclassified out of accumulated other comprehensive income by component. In addition, companies are required to present, either on the face of the statement where net income is presented or in the accompanying notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income. ASU 2013-02 is effective for annual reporting periods beginning on or after December 15, 2012, and interim periods within those annual periods. ASU 2013-02 was adopted January 1, 2013 and did not have a significant impact on our financial statements.

 

Note 3: Commitments and Contingencies

 

The Company neither owns nor leases any real or personal property, an officer has provided office services without charge. Such costs are immaterial to the financial statements and accordingly are not reflected herein. The officer and director are involved in other business activities and most likely will become involved in other business activities in the future.

 

Note 4: Legal Matters

 

The Company has no known legal issues pending.

 

Note 5: Related Party Transactions

 

An officer has loaned the Company $15,937 on August 1, 2009, without a fixed term of repayment and no interest.

 

Note 6: Capital Stock

 

On July 14, 2006, the Company sold 5,000,000 common shares at $0.001 per share to the sole director of the Company for total proceeds of $5,000.

On May 6, 2007, the Company sold 2,100,000 common shares pursuant to a registration statement at $0.01 per share for total proceeds of $21,000.

On April 22, 2008, the Company approved a forward split of a 15 for 2 forward stock split to the stockholders of record as of April 23, 2008. The Company increased the authorized shares from 50,000,000 to 75,000,000. The Company did not change the par value of the shares. All references to share value in these financial statements have been restated to reflect this split. Subsequent to the forward split, the Company had 53,250,000 common shares issued and outstanding.

On November 12, 2009, the Company sold 4,000,000 common shares at $ 0.0125 per share to an investor for total proceeds of $50,000.

On December 15, 2009, the Company authorized a Forward Stock Split of issued and outstanding Common Stock on a 2.6 for one (2.6:1) basis. As a result of the Forward Stock Split, the Company increased its issued and outstanding shares of Common Stock to 148,850,000.

 

As of October 31, 2015 there were no outstanding stock options or warrants.

 

Note 7: Income Taxes

 

The company has not commenced operations and has not generated any revenue and has not made a provision for income taxes.

The Company’s statutory tax rate is 35%.

The Company does not have any material uncertainties with respect to its provisions for income taxes.

 

Note 8: Going Concern

 

The accompanying financial statements and notes have been prepared assuming that the Company will continue as a going concern.

The Company’s ability to continue as a going concern is dependent upon the Company’s ability to generate sufficient revenues to operate profitably or raise additional capital through debt financing and/or through sales of common stock.

Management has no formal plan in place to address these concerns, but believes that the Company will be able to obtain additional funds through equity financing and/or related party advances.

The failure to achieve the necessary levels of profitability or obtain the additional funding would be detrimental to the Company.

 

 

ITEM 2: MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

 

This 10-Q contains forward-looking statements. Our actual results could differ materially from those set forth as a result of general economic conditions and changes in the assumptions used in making such forward-looking statements. The following discussion and analysis of our financial condition and results of operations should be read together with the audited consolidated financial statements and accompanying notes and the other financial information appearing elsewhere in this report. The analysis set forth below is provided pursuant to applicable Securities and Exchange Commission regulations and is not intended to serve as a basis for projections of future events. Refer also to "Cautionary Note Regarding Forward Looking Statements" and "Risk Factors" below.

 

The following discussion and analysis provides information which management of Gold Dynamics Corp. (the "Company") believes to be relevant to an assessment and understanding of the Company's results of operations and financial condition. This discussion should be read together with the Company's financial statements and the notes to financial statements, which are included in this report.

 

CAUTION ABOUT FORWARD-LOOKING STATEMENTS

 

This management's discussion and analysis or plan of operation should be read in conjunction with the financial statements and notes thereto of the Company for the quarter ended October 31, 2015. Because of the nature of a relatively new and growing company the reported results will not necessarily reflect the future.

 

This section includes a number of forward-looking statements that reflect our current views with respect to future events and financial performance. Forward-looking statements are often identified by words like: believe, expect, estimate, anticipate, intend, project and similar expressions, or words which, by their nature, refer to future events. You should not place undue certainty on these forward-looking statements, which apply only as of the date of this prospectus. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or our predictions.

 

COMPANY OVERVIEW

 

Gold Dynamics Corp.'s primary operations began in April 2006. Gold Dynamics Corp. is an emerging precious metals explorer focused on under explored regions of the world that is seeking to grow shareholder value by building gold and silver mineral resources through systematic exploration. The Company has brought together a highly experienced board and management team consisting of capable professionals with significant development and mine management experience.

 

Gold Dynamics Corp. seeks to identify, acquire, and develop deposits which have the potential to be world class and in an acceptable risk environment. Social responsibility and environmental stewardship are core values of the Company.

 

RESULTS OF OPERATIONS

 

The Company experienced general and administration expenses of $1250 and $- for the three months ended October 30, 2015 and 2014, respectively.

For the three month period ended October 31, 2015, the net loss of the Company is $350.

 

LIQUIDITY AND CAPITAL RESOURCES

 

During the three month period ended October 31, 2015, the Company had no working capital needs. As of October 31, 2015, the Company has cash on hand in the amount of $0. Management does not expect that the current level of cash on hand will be sufficient to fund our operations for the next twelve month period. In the event that additional funds are required to maintain operations, our officers and directors have agreed to advance us sufficient capital to allow us to continue operations. We may also be able to obtain loans from our shareholders, but there are no agreements or understandings in place currently.

 

We believe we will require additional funding to expand our business and ensure its future profitability. We anticipate that any additional funding will be in the form of equity financing from the sale of our common stock. However, we do not have any arrangements in place for any future equity financing. In the event we are not successful in selling our common stock, we may also seek to obtain short-term loans from our director.

 

ITEM 3: QUANTITATIVE DISCLOSURES ABOUT MARKET RISKS

Not applicable

 

ITEM 4: CONTROLS AND PROCEDURES

 

Evaluation of Disclosure Controls and Procedures

We carried out an evaluation, under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, of the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Exchange Act (defined below)). Based upon that evaluation, our principal executive officer and principal financial officer concluded that, as of the end of the period covered in this report, our disclosure controls and procedures were not effective to ensure that information required to be disclosed in reports filed under the Securities Exchange Act of 1934, as amended (the "Exchange Act") is recorded, processed, summarized and reported within the required time periods and is accumulated and communicated to our management, including our principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosure.

 

Our management, including our principal executive officer and principal financial officer, does not expect that our disclosure controls and procedures or our internal controls will prevent all error or fraud. A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints and the benefits of controls must be considered relative to their costs. Due to the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, have been detected. Accordingly, management believes that the financial statements included in this report fairly present in all material respects our financial condition, results of operations and cash flows for the periods presented.

 

Changes in Internal Control over Financial Reporting

In addition, our management with the participation of our Principal Executive Officer and Principal Financial Officer have determined that no change in our internal control over financial reporting occurred during or subsequent to the quarter ended October 31, 2015 that has materially affected, or is (as that term is defined in Rules 13(a)-15(f) and 15(d)-15(f) of the Securities Exchange Act of 1934) reasonably likely to materially affect, our internal control over financial reporting.

 

PART II: OTHER INFORMATION

ITEM 1: LEGAL PROCEEDINGS

We know of no material, existing or pending legal proceedings against our company, nor are we involved as a plaintiff in any material proceeding or pending litigation. There are no proceedings in which any of our directors, officers or affiliates, or any registered or beneficial shareholder, is an adverse party or has a material interest adverse to our interest.

 

ITEM 2: UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None

ITEM 3: DEFAULTS UPON SENIOR SECURITIES

None

ITEM 3: SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

None

ITEM 5: OTHER INFORMATION

None

ITEM 6: EXHIBITS

(a) The following exhibit is filed as part of this report:

 

31.1 Certification of Principal Executive Officer and Principal Financial Officer filed pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

32.1 Certification of Principal Executive Officer and Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

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 December 13, 2015.

  

/s/ Tie Ming Li

Mr. Tie Ming Li, President

 

 

 

 



EX. 31. CERTIFICATION PURSUANT TO SECTION 302 OF SARBANES-OXLEY ACT OF 2002

 

I, Tie Ming Li, certify that:

 

1. I have reviewed this annual report on Form 10-Q of Gold Dynamics Corp.;

 

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(s) 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 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(s) 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.

 

December 13, 2015

 

By: /s/ Tie Ming Li

Tie Ming Li

Chief Executive Officer



 

EX. 32. CERTIFICATION OF CHIEF EXECUTIVE OFFICER AND PRINCIPAL FINANCIAL

OFFICER PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

The undersigned, Tie Ming Li the Chief Executive Officer of Gold Dynamics Corp. (the "Company") hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to his or her knowledge, the Quarterly Report on Form 10-Q for the period ended October 31, 2015, fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended, and that the information contained in the Annual Report on Form 10-Q, as amended, fairly presents in all material respects the financial condition and results of operations of the Company.

 

Date: December 13, 2015

 

/s/ Tie Ming Li

Tie Ming Li

Chief Executive Officer



v3.3.1.900
Document and Entity Information - USD ($)
 3 Months Ended
Oct. 31, 2015
Dec. 13, 2015
Document And Entity Information    
Entity Registrant Name Gold Dynamics Corp.  
Entity Central Index Key 0001371534  
Document Type 10-Q  
Document Period End Date Oct. 31, 2015  
Amendment Flag false  
Current Fiscal Year End Date --07-31  
Is Entity a Well-known Seasoned Issuer? No  
Is Entity a Voluntary Filer? No  
Is Entity's Reporting Status Current? No  
Entity Filer Category Smaller Reporting Company  
Entity Public Float   $ 40,000,000
Entity Common Stock, Shares Outstanding   148,850,000
Document Fiscal Period Focus Q1  
Document Fiscal Year Focus 2015  


v3.3.1.900
Balance Sheets - USD ($)
Oct. 31, 2015
Jul. 31, 2015
Current Assets    
Cash and Cash Equivalents
TOTAL CURRENT ASSETS
TOTAL ASSETS $ 0 $ 0
Current Liabilities    
Accounts Payable 4,250 3,900
TOTAL CURRENT LIABILITIES 4,250 3,900
Notes Payable 78,227 78,227
Shareholder Loan 15,937 15,937
TOTAL LIABILITIES $ 98,414 $ 98,064
Stockholders' Deficit    
Preferred Stock, $0.001 par value, 50,000,000 authorized, none issued and outstanding
Common stock, Authorized : 50,000,000, common shares at $0.001 par value, 148,850,000 issued and outstanding as at October 31, 2014 $ 11,100 $ 11,100
Additional paid in capital 64,900 64,900
(Deficit) accumulated during the development stage (174,414) (174,064)
TOTAL STOCKHOLDERS' DEFICIT (98,414) (98,064)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 0 $ 0


v3.3.1.900
Balance Sheets (Parenthetical) - USD ($)
Oct. 31, 2015
Jul. 31, 2015
Statement of Financial Position [Abstract]    
Preferred Stock Par Value $ 0.001 $ 0.001
Preferred Stock Authorized 50,000,000 50,000,000
Preferred Stock Issued and Outstanding $ 0 $ 0
Common Stock Par Value $ 0.001 $ 0.001
Common Stock Authorized 500,000,000 500,000,000
Common Stock Issued and Outstanding 148,850,000 148,850,000


v3.3.1.900
Statements of Operations - USD ($)
 3 Months Ended
Oct. 31, 2015
Oct. 31, 2014
General and Administration Expenses    
Professional Fees $ 1,250
Consultation Fees
Management Fees
Filing Fee
Rent
Advertising and Promotion
Bank charges and interest
Operating Loss
Other Income $ 900
Net (loss) for the period $ (350)
Net (loss) per share    
Basic and diluted $ 0 $ 0
Weighted Average Number of Common    
Shares Outstanding - Basic and Diluted 148,850,000 148,850,000


v3.3.1.900
Statements of Cash Flows - USD ($)
 3 Months Ended
Oct. 31, 2015
Oct. 31, 2014
Cash flow from Operating Activities    
Net loss $ 350
Adjustments to reconcile net loss to net cash used in operating activities:    
Accrued Interest
Notes Payable $ 350
Shareholder loan
Net cash used for operating activities $ 0 $ 0
Financing Activities    
Additional Paid in Capital
Proceeds from shareholder loan
Proceeds from sale of common stock
Net cash provided by financing activities
Net change in cash
Cash, Beginning of Period $ 0 $ 0
Cash, End of Period $ 0 $ 0


v3.3.1.900
Organization and Basis of Presentation
 3 Months Ended
Oct. 31, 2015
Accounting Policies [Abstract]  
Organization and Basis of Presentation

Note 1: Organization and Basis of Presentation

 

Gold Dynamics Corp. (the “Company”) is a for profit corporation established under the corporation laws in the State of Nevada, United States of America on April, 2006.

 

The Company's primary operations began in April 2006 with an e-commerce focus and intends to become a producer of vitamin infused alcoholic beverages. As part of the change in operations, the Company has undergone a name change from Revo Ventures Inc. to Vita Spirits Corp to Gold Dynamics Corp. to better reflect the Company's new focus.

 

The Financial Statements and related disclosures as of October 31, 2015 are unaudited pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”). The October 31, 2015, Balance Sheet data was derived from unaudited financial statements and does not include all disclosures required by accounting principles generally accepted in the United States of America (“U.S.”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) have been condensed or omitted pursuant to such rules and regulations. In our opinion, these financial statements include all adjustments (consisting only of normal recurring adjustments) necessary for the fair statement of the results for the period. These financial statements should be read in conjunction with the financial statements included in our Quarterly Report for the period ended January 31, 2015. Unless the context otherwise requires, all references to “Gold Dynamics,” “we,” “us,” “our” or the “company” are to Gold Dynamics Corp. and any subsidiaries.

 

The Company’s fiscal year ends July 31.


v3.3.1.900
Recent Accounting Pronouncements
 3 Months Ended
Oct. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Recent Accounting Pronouncements

Note 2: Recent Accounting Pronouncements

 

In December 2011, the FASB issued ASU 2011-11, Disclosures about Offsetting Assets and Liabilities, (“ASU 2011-11”). ASU 2011-11 requires an entity to disclose both gross information and net information about both instruments and transactions eligible for offset in the statement of financial position and instruments and transactions subject to an agreement similar to a master netting arrangement. ASU 201111 is effective for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods. Retrospective disclosure is required for all comparative periods presented. The adoption of ASU 2011-11 did not have a material impact on the Company’s financial statements.

 

In October 2012, the FASB issued ASU No. 2012-04, Technical Corrections and Improvements, (“ASU 2012-04”). This update includes source literature amendments, guidance clarification, reference corrections and relocated guidance affecting a variety of topics in the Codification. The update also includes conforming amendments to the Codification to reflect ASC 820’s fair value measurement and disclosure requirements. The amendments in this update that will not have transition guidance are effective upon issuance. The amendments in this update that are subject to the transition guidance will be effective for fiscal periods beginning after December 15, 2012. The adoption of ASU 2012-04 did not have a material impact on the Company’s financial statements.

 

In January 2013, the FASB issued ASU No. 2013-01, Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities (“ASU 2013-01”). This update clarifies that ordinary trade receivables and receivables are not in the scope of ASU No. 2011-11, Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities (“ASU 2011-11”). Specifically, ASU 2011-11 applies only to derivatives, repurchase agreements and reverse purchase agreements, and securities borrowing and securities lending transactions that are either offset in accordance with specific criteria contained in the FASB Accounting Standards Codification or subject to a master netting arrangement or similar agreement. The Company is required to apply the amendments in ASU 2013-01 beginning January 1, 2013. The adoption of ASU 2013-01 by the Company did not have a material impact on the consolidated financial statements.

 

In February 2013, the Financial Accounting Standards Board issued Accounting Standards Update, or ASU, 2013-02, Comprehensive Income (Topic 220), Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. This update requires companies to provide information regarding the amounts reclassified out of accumulated other comprehensive income by component. In addition, companies are required to present, either on the face of the statement where net income is presented or in the accompanying notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income. ASU 2013-02 is effective for annual reporting periods beginning on or after December 15, 2012, and interim periods within those annual periods. ASU 2013-02 was adopted January 1, 2013 and did not have a significant impact on our financial statements.


v3.3.1.900
Commitments and Contingencies
 3 Months Ended
Oct. 31, 2015
Accounting Policies [Abstract]  
Commitments and Contingencies

 

Note 3: Commitments and Contingencies

 

The Company neither owns nor leases any real or personal property, an officer has provided office services without charge. Such costs are immaterial to the financial statements and accordingly are not reflected herein. The officer and director are involved in other business activities and most likely will become involved in other business activities in the future.


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Legal Matters
 3 Months Ended
Oct. 31, 2015
Commitments and Contingencies Disclosure [Abstract]  
Legal Matters

 

Note 4: Legal Matters

 

The Company has no known legal issues pending.


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Related Party Transactions
 3 Months Ended
Oct. 31, 2015
Related Party Transactions [Abstract]  
Related Party Transactions

Note 5: Related Party Transactions

 

An officer has loaned the Company $15,937 on August 1, 2009, without a fixed term of repayment and no interest.


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Capital Stock
 3 Months Ended
Oct. 31, 2015
Equity [Abstract]  
Capital Stock

Note 6: Capital Stock

 

On July 14, 2006, the Company sold 5,000,000 common shares at $0.001 per share to the sole director of the Company for total proceeds of $5,000.

On May 6, 2007, the Company sold 2,100,000 common shares pursuant to a registration statement at $0.01 per share for total proceeds of $21,000.

On April 22, 2008, the Company approved a forward split of a 15 for 2 forward stock split to the stockholders of record as of April 23, 2008. The Company increased the authorized shares from 50,000,000 to 75,000,000. The Company did not change the par value of the shares. All references to share value in these financial statements have been restated to reflect this split. Subsequent to the forward split, the Company had 53,250,000 common shares issued and outstanding.

On November 12, 2009, the Company sold 4,000,000 common shares at $ 0.0125 per share to an investor for total proceeds of $50,000.

On December 15, 2009, the Company authorized a Forward Stock Split of issued and outstanding Common Stock on a 2.6 for one (2.6:1) basis. As a result of the Forward Stock Split, the Company increased its issued and outstanding shares of Common Stock to 148,850,000.

 

As of October 31, 2015 there were no outstanding stock options or warrants.


v3.3.1.900
Income Taxes
 3 Months Ended
Oct. 31, 2015
Income Tax Disclosure [Abstract]  
Income Taxes

Note 7: Income Taxes

 

The company has not commenced operations and has not generated any revenue and has not made a provision for income taxes.

The Company’s statutory tax rate is 35%.

The Company does not have any material uncertainties with respect to its provisions for income taxes.


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Going Concern
 3 Months Ended
Oct. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Going Concern

Note 8: Going Concern

 

The accompanying financial statements and notes have been prepared assuming that the Company will continue as a going concern.

The Company’s ability to continue as a going concern is dependent upon the Company’s ability to generate sufficient revenues to operate profitably or raise additional capital through debt financing and/or through sales of common stock.

Management has no formal plan in place to address these concerns, but believes that the Company will be able to obtain additional funds through equity financing and/or related party advances.

The failure to achieve the necessary levels of profitability or obtain the additional funding would be detrimental to the Company.