UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

FORM 10-Q

 

(Mark One)

 

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

 

For the transition period from __________ to__________

  

Commission File Number: 333-161240

 

Kashin, Inc.
F.K.A. One Clean Planet, Inc.

(Exact name of registrant as specified in it's charter)

  

Nevada

 

26-4711535

(State or other jurisdiction of incorporation or organization)

 

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

 

 

 

112 North Curry Street, Carson City, NV

 

89703-4934

(Address of principal executive offices)

 

(Zip Code)

 

(345) 938-5360

(Registrant's telephone number, including area code)

 

_____________________________________________________________ 

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

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 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. ¨ Yes   x 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 (§232.405 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  

¨

Smaller reporting company

x

(Do not check if a smaller reporting company)  

 

 

  

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ¨ Yes   x No

 

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS:

 

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court ¨ Yes   ¨ No

 

APPLICABLE ONLY TO CORPORATE ISSUERS:

 

As of December 21, 2015, the Company had 12,860,745 common shares issued and outstanding.

  

 


TABLE OF CONTENTS

 

PART I—FINANCIAL INFORMATION

 

 

 

 

 

 

 

 

 

Item 2. 

Management's Discussion and Analysis of Financial Condition and Results of Operations.

 

 

9

 

 

 

 

 

 

 

Item 3. 

Quantitative and Qualitative Disclosures About Market Risk.

 

 

10

 

 

 

 

 

 

 

Item 4. 

Controls and Procedures.

 

 

10

 

 

 

 

 

 

 

PART II—OTHER INFORMATION

 

 

 

 

 

 

 

 

 

Item 1. 

Legal Proceedings.

 

 

11

 

 

 

 

 

 

 

Item 1A. 

Risk Factors.

 

 

11

 

 

 

 

 

 

 

Item 2.  

Unregistered Sales of Securities and Use of Proceeds.

 

 

11

 

 

 

 

 

 

 

Item 3.  

Defaults Upon Senior Securities.

 

 

11

 

 

 

 

 

 

 

Item 4.  

Mine Safety Disclosures.

 

 

11

 

 

 

 

 

 

 

Item 5.  

Other Information.

 

 

11

 

 

 

 

 

 

 

Item 6.  

Exhibits.

 

 

12

 

 

 
2
 

 
KASHIN, INC
fka ONE CLEAN PLANET, INC.

CONDENSED FINANCIAL STATEMENTS

October 31, 2015

Unaudited

 

CONDENSED BALANCE SHEETS

 

 

4

 

 

 

 

 

 

CONDENSED STATEMENTS OF OPERATIONS

 

 

5

 

 

 

 

 

 

CONDENSED STATEMENTS OF CASH FLOWS

 

 

6

 

 

 

 

 

 

NOTES TO UNAUDITED CONDENSED INTERIM AUDITED FINANCIAL STATEMENTS

 

 

7

 

 

 
3
 

 

KASHIN, INC
fka ONE CLEAN PLANET, INC.

CONDENSED BALANCE SHEETS
Unaudited

 

 

 

October 31,
2015

 

 

April 30,
2015

 

ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

 

CURRENT ASSETS

 

 

 

 

 

 

Cash

 

$875

 

 

$2,720

 

TOTAL CURRENT ASSETS

 

$875

 

 

$2,720

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CURRENT LIABILITIES

 

 

 

 

 

 

 

 

Accounts payable and accrued liabilities

 

$29,715

 

 

$129,642

 

Notes Payable

 

 

100,000

 

 

 

-

 

Accounts payable - related party

 

 

-

 

 

 

21,883

 

Loans from related party

 

 

39,011

 

 

 

36,913

 

TOTAL CURRENT LIABILITIES

 

$168,726

 

 

$188,437

 

 

 

 

 

 

 

 

 

 

STOCKHOLDERS' EQUITY (DEFICIT)

 

 

 

 

 

 

 

 

Capital stock

 

 

 

 

 

 

 

 

Authorized 75,000,000 shares of common stock, $0.001 par value,

 

 

 

 

 

 

 

 

Issued and outstanding 12,860,745 shares at October 31, 2015 and 10,014,745 at April 30, 2015

 

$12,861

 

 

$10,015

 

Additional Paid in Capital

 

 

455,008

 

 

 

5,762

 

Accumulated deficit

 

 

(635,720)

 

 

(201,493)

TOTAL STOCKHOLDERS' EQUITY/(DEFICIT)

 

$(167,851)

 

$(185,717)

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY/(DEFICIT)

 

$875

 

 

$2,720

 

 

The accompanying notes are an integral part of these financial statements

 

 
4
 

 

KASHIN, INC
fka ONE CLEAN PLANET, INC.

CONDENSED STATEMENTS OF OPERATIONS
Unaudited

 

 

 

3 months

ended

 

 

3 months

ended

 

 

6 months

ended

 

 

6 months

ended

 

 

 

October 31, 2015

 

 

October 30, 2014

 

 

October 31, 2015

 

 

October 31, 2014

 

REVENUE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$-

 

 

$-

 

 

$5,000

 

 

$-

 

Total Revenues

 

$-

 

 

$-

 

 

$5,000

 

 

$-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EXPENSES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Office and general

 

$360,961

 

 

$-

 

 

$410,214

 

 

$357

 

Professional Fees

 

 

22,513

 

 

 

2,750

 

 

 

29,013

 

 

 

7,000

 

Total Expenses, before provision of income taxes

 

$(383,474)

 

$2,750

 

 

$439,227

 

 

$7,357

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision for income taxes

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NET LOSS

 

$(383,474)

 

$(2,750)

 

$(434,227)

 

$(7,357)
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BASIC AND DILUTED LOSS PER COMMON SHARE

 

$(0.04)

 

$-

 

 

$(0.04)

 

$-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING

 

 

10,365,397

 

 

 

10,014,737

 

 

 

10,090,063

 

 

 

10,014,737

 

 

The accompanying notes are an integral part of these financial statements

 

All share and per share information has been retrospectively restated to reflect the 35:1 reverse split

 

 
5
 

 

KASHIN, INC
fka ONE CLEAN PLANET, INC.

CONDENSED STATEMENTS OF CASH FLOWS
Unaudited

 

 

 

6 months

 

 

6 months

 

 

 

ended

 

 

ended

 

 

 

October 31, 2015

 

 

October 31, 2014

 

 

 

 

 

 

 

 

OPERATING ACTIVITIES

 

 

 

 

 

 

Net loss

 

$(434,227)

 

$

(7,357

)

Adjustment to reconcile net loss to net cash used in operating activities:

 

 

 

 

 

 

 

Stock issued for consulting services

 

 

299,400

 

 

 

-

 

Expenses paid on company's behalf by related party

 

 

-

 

 

 

3,253

 

Increase (decrease) in accrued expenses

 

 

(19,117)

 

 

(896)
 

 

 

 

 

 

 

 

 

NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITI

 

$(153,944)

 

$

(5,000

)

 

 

 

 

 

 

 

 

 

FINANCING ACTIVITIES

 

 

 

 

 

 

 

 

Proceeds from sale of common stock

 

 

50,000

 

 

 

-

 

Notes Payable

 

 

100,000

 

 

 

-

 

Loan from Related Party

 

 

2,099

 

 

 

5,000

 

 

 

 

 

 

 

 

 

NET CASH PROVIDED BY FINANCING ACTIVITIES

 

$152,099

 

 

$5,000

 

 

 

 

 

 

 

 

 

 

NET INCREASE (DECREASE) IN CASH

 

$(1,845)

 

$-

 

 

 

 

 

 

 

 

 

 

CASH, BEGINNING OF PERIOD

 

$2,720

 

 

$79

 

 

 

 

 

 

 

 

 

 

CASH, END OF PERIOD

 

$875

 

 

$79

 

 

 

 

 

 

 

 

 

 

Supplemental cash flow & noncash financing activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common stock issued in exchange of payable assignment/settlement

 

$

 102,692

 

 

 

 

 

 

 

 

 

 

 

 

Cash paid for:

 

 

 

 

 

 

Interest

 

$-

 

 

$-

 

 

 

 

 

 

 

 

 

 

Income taxes

 

$-

 

 

$-

 

 

The accompanying notes are an integral part of these financial statements

 

 
6
 

 

KASHIN, INC
fka ONE CLEAN PLANET, INC.
NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS
Unaudited

 
October 31, 2015

 

NOTE 1 – CONDENSED FINANCIAL STATEMENTS

The accompanying financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at October 31, 2015, and for all periods presented herein, have been made. On July 27, 2015, the Company approved and effected a name change to Kashin, Inc.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company's April 30, 2015 audited financial statements. The results of operations for the periods ended October 31, 2015 and the same period last year are not necessarily indicative of the operating results for the full years.

NOTE 2 – GOING CONCERN

The Company's financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern. This contemplates the realization of assets and the liquidation of liabilities in the normal course of business. Currently, the Company has a working capital deficit of $167,851, an accumulated deficit of $635,720 and net loss from operations since inception of $635,720. The Company does not have a source of revenue sufficient to cover its operation costs giving substantial doubt for it to continue as a going concern. The Company will be dependent upon the raising of additional capital through placement of our common stock in order to implement its business plan, or merge with an operating company. There can be no assurance that the Company will be successful in either situation in order to continue as a going concern. The Company is funding its initial operations by way of issuing Founder's shares.

In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management's plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking equity and/or debt financing. However management cannot provide any assurances that the Company will be successful in accomplishing any of its plans.

The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

 

 
7
 

 
NOTE 3 – CAPITAL STOCK

The Company's capitalization was reduced to 75,000,000 common shares with a par value of $0.001 per share on July 27, 2015. No preferred shares have been authorized or issued.

During September of 2015, the Company issued 100,000 common shares for cash of $50,000 and in October 2015, the Company issued 1,996,000 common shares to various consultants for past services rendered at $0.15 per share. The value was determined based on the average price of shares issued for cash and services in the past. On the same day 750,000 shares were issued in settlement of $102,692 of the Company's payables.

On October 31, 2015 the Company had 12,860,745 common shares issued and outstanding, and on April 30, 2015, the Company had 10,014,745 common shares issued and outstanding. All share information has been retrospectively restated to reflect the 35:1 reverse split approved on July 27, 2015.

As of October 31, 2015 there were 100,000 stock warrants outstanding relating to the issue of 100,000 common shares in September 2015. Each unit sold included one common share and one warrant.


As of October 31, 2015, the Company has granted $299,400 stock for stock-based compensation.

NOTE 4 – RELATED PARTY TRANSACTIONS

As of October 31, 2015 and April 30, 2015, the Company has received $39,011 and $36,913, respectively, in loans and payment of expenses from a related party. The loans are payable on demand and without interest. As of October 31, 2015 and April 30, 2015, a second related party has paid expenses of $0 and $21,883 respectively, on behalf of the Company. These amounts are separately stated on the Balance Sheet and are due on demand with no interest.

NOTE 5 – RECENT ACCOUNTING PRONOUNCEMENTS

The company has evaluated all the recent accounting pronouncements and believes that none of them will have a material effect on the company's financial statement.

NOTE 6 – SUBSEQUENT EVENTS

The Company has evaluated subsequent events from the balance sheet date through the date the financial statements were issued and has determined that there are no further events to disclose.

 

 
8
 

 
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations.

 

This section of this report 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 report. 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.

 

Overview

 

On July 27, 2015, the Company approved and effected a name change to Kashin, Inc. Kashin, Inc. fka Singular Chef, Inc. ("the Company", "our" or "we") was incorporated in the State of Nevada as a for-profit company on April 09, 2009. The Company is a development stage company that intends to provide specialized step-by-step cooking tutorials through the website we are currently developing for monthly subscribers and on pay-per-view basis.

 

Results of Operations

 

The Company has not yet generated any revenue from its operations and has generated $5,000 in revenues unrelated to its operations. Expenses for the three months ended October 31, 2015, were $383,474 resulting in a net loss of $383,474 as compared to expenses for the three months ended October 31, 2014 of $2,750 resulting in a net loss of $2,750. The net loss of $383,474 for the three months ended October 31, 2015 is a result of Revenues of $Nil, Office and general expenses of $360,961 consisting primarily of stock based compensation to certain consultants and officers and Professional Fees of $22,513 as compared to the net loss of $2,750 for the three months ended October 31, 2014 resulting from Office and general expenses of $Nil and Professional Fees of $2,750.

 

Expenses for the six months ended October 31, 2015, were $439,227 resulting in a net loss of $434,227 as compared to expenses for the six months ended October 31, 2014 of $7,357 resulting in a net loss of $7,357. The net loss of $434,227 for the six months ended October 31, 2015 is a result of Revenues of $Nil, Office and general expenses of $410,214 consisting primarily of stock based compensation to certain consultants and officers and Professional Fees of $29,013 as compared to the net loss of $7,357 for the three months ended October 31, 2014 resulting from Office and general expenses of $357 and Professional Fees of $7,000.

 

Capital Resources and Liquidity

 

Our auditors have issued a "going concern" opinion, meaning that there is substantial doubt if we can continue as an on-going business for the next twelve months unless we obtain additional capital. No substantial revenues are anticipated until we have implemented our plan of operations. With the exception of cash advances from our sole Officer and Director, our only source for cash at this time is investments by others. We must raise cash to implement our strategy and stay in business.

 

For the period ended October 31, 2015, the Company had cash of $875 as compared to cash of $2,720 for the period ended April 30, 2015. Accounts payable and accrued liabilities for the period ended October 31, 2015 were $29,715. The funds available to the Company will not be sufficient to fund the planned operations of the Company and maintain a reporting status.

 

 
9
 

  

As of October 31, 2015 and April 30, 2015, the Company has received $39,011 and $36,913, respectively, in loans and payment of expenses from a related party. There was a further loan of $100,000 from an unrelated party. The loans are payable on demand and without interest. As of October 31, 2015 and April 30, 2015, a second related party has paid expenses of $0 and $21,883 respectively, on behalf of the Company. These amounts are separately stated on the Balance Sheet and are due on demand with no interest.

 

We do not anticipate researching and releasing any further features to our software nor do we foresee the purchase or sale of any significant equipment. We also do not expect any significant additions to the number of employees.

 

Off-balance sheet arrangements

 

Other than the situation described in the section titled Capital Recourses and Liquidity, the company has no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect or change on the company's financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors. The term "off-balance sheet arrangement" generally means any transaction, agreement or other contractual arrangement to which an entity unconsolidated with the company is a party, under which the company has (i) any obligation arising under a guarantee contract, derivative instrument or variable interest; or (ii) a retained or contingent interest in assets transferred to such entity or similar arrangement that serves as credit, liquidity or market risk support for such assets.

 

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

 

The Company is a smaller reporting Company as defined by Rule 12b-2 of the Securities Act of 1934 and we are not required to provide the information under this item.

 

Item 4. Controls and Procedures.

 

Disclosure Controls and Procedures

 

Disclosure controls and procedures are controls and other procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported, within the time period specified in the SEC's rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed in our reports filed or submitted under the Securities Exchange Act of 1934 is accumulated and communicated to management including our principal executive officer and principal financial officer as appropriate, to allow timely decisions regarding required disclosure.

 

In connection with this quarterly report, as required by Rule 15d-15 under the Securities Exchange Act of 1934, we have carried out an evaluation of the effectiveness of the design and operation of our company's disclosure controls and procedures. This evaluation was carried out under the supervision and with the participation of our company's management, including our company's principal executive officer and principal financial officer. Based upon that evaluation, our company's principal executive officer and principal financial officer concluded that subject to the inherent limitations noted in this Part II, Item 9A(T) as of October 31, 2015, our disclosure controls and procedures were not effective due to the existence of material weaknesses in our internal controls over financial reporting.

 

Changes in Internal Control Over Financial Reporting

 

There were no changes in our internal control over financial reporting (as defined in Rule 13a-15(f) or 15d-15(f)) during the quarter ended October 31, 2015 that have materially affected, or are reasonably likely to materially affect, our internal controls over financial reporting.

 

 
10
 

 

PART II—OTHER INFORMATIONItem 1. Legal Proceedings.

 

The Company is not a party to any pending legal proceedings, and no such proceedings are known to be contemplated.

 

No director, officer, or affiliate of the Company and no owner of record or beneficial owner of more than 5.0% of the securities of the Company, or any associate of any such director, officer or security holder is a party adverse to the Company or has a material interest adverse to the Company in reference to pending litigation.

 

Item 1A. Risk Factors.

 

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Act of 1934 and are not required to provide the information under this item.

 

Item 2. Unregistered Sales of Securities and Use of Proceeds.

 

None

 

Item 3. Defaults Upon Senior Securities.

 

None

 

Item 4. Mine Safety Disclosures.

 

None

 

Item 5. Other Information.

 

(a)     None

 

 
11
 

  

Item 6. Exhibits.

 

31.1

Rule 13(a)-14(a)/15(d)-14(a) Certification of Chief Executive Officer

31.2

Rule 13(a)-14(a)/15(d)-14(a) Certification of Chief Financial Officer *

32.1

Section 1350 Certification of Chief Executive Officer

32.2

Section 1350 Certification of Chief Financial Officer **

 

 

 

101 

 

XBRL Interactive Data Files

__________

* Included in Exhibit 31.1

 

** Included in Exhibit 32.1

 

 
12
 

 

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.

 

 

 

Kashin, Inc.  

(Registrant)

 

    
Date: December 21, 2015 By:/s/ Carl Maybin

 

 

 

Carl Maybin

 

 

 

President and Director

Principal and Executive Officer

Principal Financial Officer

Principal Accounting Officer

 

 

 

13


 



EXHIBIT 31.1

 

CERTIFICATION

 

I, Carl Maybin, certify that:

 

1.

I have reviewed this quarterly report of Kashin, Inc.;

 
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 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 the 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 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 controls and procedures, or caused such disclosure controls and procedures 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 registrants 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 registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter 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 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 equivalent functions):

 

a)

All significant deficiencies and material weaknesses in the design or operation of internal controls 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.

 

   
Date: December 21, 2015By:/s/ Carl Maybin

 

 

 

Carl Maybin

 

 

President, Secretary Treasurer
Principal Executive Officer
Principal Financial Officer and Director

 



EXHIBIT 32.1

 

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

In connection with the Quarterly Report on Form 10-Q for the period ended October 31, 2015 of Kashin, Inc., a Nevada corporation (the "Company"), as filed with the Securities and Exchange Commission on the date hereof (the "Transition Report"), I, Carl Maybin, President and Chief Financial Officer of the Company certify, pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

 

1.

The Quarterly Report fully complies with the requirements of Section 13(a) or15(d) of the Securities and Exchange Act of 1934, as amended; and

2.

The information contained in this Quarterly Report fairly presents, in all material respects, the financial condition and results of operation of the Company.

 

    
Date: December 21, 2015By:/s/ Carl Maybin

 

 

 

Carl Maybin

 

 

 

President, Secretary Treasurer
Principal Executive Officer,

Principal Financial Officer and Director

 



v3.3.1.900
Document and Entity Information - shares
6 Months Ended
Oct. 31, 2015
Dec. 21, 2015
Document And Entity Information    
Entity Registrant Name Kashin, Inc.  
Entity Central Index Key 0001467845  
Document Type 10-Q  
Document Period End Date Oct. 31, 2015  
Amendment Flag false  
Current Fiscal Year End Date --04-30  
Is Entity a Well-known Seasoned Issuer? No  
Is Entity a Voluntary Filer? No  
Is Entity's Reporting Status Current? Yes  
Entity Filer Category Smaller Reporting Company  
Entity Common Stock, Shares Outstanding   12,860,745
Document Fiscal Period Focus Q2  
Document Fiscal Year Focus 2016  


v3.3.1.900
CONDENSED BALANCE SHEETS - USD ($)
Oct. 31, 2015
Apr. 30, 2015
CURRENT ASSETS    
Cash $ 875 $ 2,720
TOTAL CURRENT ASSETS 875 2,720
CURRENT LIABILITIES    
Accounts payable and accrued liabilities 29,715 $ 129,642
Notes Payable $ 100,000
Accounts payable - related party $ 21,883
Loans from related party $ 39,011 36,913
TOTAL CURRENT LIABILITIES 168,726 188,437
STOCKHOLDERS' EQUITY ( DEFICIT )    
Capital stock Authorized 75,000,000 shares of common stock, $0.001 par value, Issued and outstanding 12,860,745 shares at October 31, 2015 and 10,014,745 at April 30, 2015 12,861 10,015
Additional Paid in Capital 455,008 5,762
Accumulated deficit (635,720) (201,493)
TOTAL STOCKHOLDERS' EQUITY/(DEFICIT) (167,851) (185,717)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY/(DEFICIT) $ 875 $ 2,720


v3.3.1.900
CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares
Oct. 31, 2015
Apr. 30, 2015
STOCKHOLDERS' EQUITY ( DEFICIT )    
Common stock, par value $ 0.001 $ 0.001
Common stock, shares authorized 75,000,000 75,000,000
Common stock, shares issued 12,860,745 10,014,745
Common stock, shares outstanding 12,860,745 10,014,745


v3.3.1.900
CONDENSED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 6 Months Ended
Oct. 31, 2015
Oct. 31, 2014
Oct. 31, 2015
Oct. 31, 2014
REVENUE        
Revenues $ 5,000
Total Revenues 5,000
EXPENSES        
Office and general $ 360,961 410,214 $ 357
Professional Fees 22,513 $ 2,750 29,013 7,000
Total Expenses, before provision of income taxes $ 383,474 $ 2,750 $ 439,227 $ 7,357
Provision for income taxes
NET LOSS $ (383,474) $ (2,750) $ (434,227) $ (7,357)
BASIC AND DILUTED LOSS PER COMMON SHARE $ (0.04) $ (0.04)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING 10,365,397 10,014,737 10,090,063 10,014,737


v3.3.1.900
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended 6 Months Ended 79 Months Ended
Oct. 31, 2015
Oct. 31, 2014
Oct. 31, 2015
Oct. 31, 2014
Oct. 31, 2015
OPERATING ACTIVITIES          
Net Loss $ (383,474) $ (2,750) $ (434,227) $ (7,357) $ (635,720)
Adjustment to reconcile net loss to net cash used in operating activities:          
Stock issued for consulting services     $ 299,400  
Expenses paid on company's behalf by related party     $ 3,253  
Increase (decrease) in accrued expenses     $ (19,117) (896)  
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES     (153,944) $ (5,000)  
FINANCING ACTIVITIES          
Proceeds from sale of common stock     50,000  
Notes Payable     100,000    
Loans from Related Party     2,099 $ 5,000  
NET CASH PROVIDED BY FINANCING ACTIVITIES     152,099 $ 5,000  
NET INCREASE (DECREASE) IN CASH     (1,845)  
CASH, BEGINNING OF PERIOD     2,720 $ 79  
CASH, END OF PERIOD $ 875 $ 79 875 $ 79 $ 875
Supplemental cash flow & noncash financing activities:          
Common stock issued in exchange of payable assignment/settlement     $ 102,692    
Cash paid for: Interest      
Cash paid for: Income taxes      


v3.3.1.900
CONDENSED FINANCIAL STATEMENTS
6 Months Ended
Oct. 31, 2015
Notes to Financial Statements  
NOTE 1 - CONDENSED FINANCIAL STATEMENTS

The accompanying financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at October 31, 2015, and for all periods presented herein, have been made. On July 27, 2015, the Company approved and effected a name change to Kashin, Inc.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company's April 30, 2015 audited financial statements. The results of operations for the periods ended October 31, 2015 and the same period last year are not necessarily indicative of the operating results for the full years.



v3.3.1.900
GOING CONCERN
6 Months Ended
Oct. 31, 2015
Notes to Financial Statements  
NOTE 2 - GOING CONCERN

The Company's financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern. This contemplates the realization of assets and the liquidation of liabilities in the normal course of business. Currently, the Company has a working capital deficit of $167,851, an accumulated deficit of $635,720 and net loss from operations since inception of $635,720. The Company does not have a source of revenue sufficient to cover its operation costs giving substantial doubt for it to continue as a going concern. The Company will be dependent upon the raising of additional capital through placement of our common stock in order to implement its business plan, or merge with an operating company. There can be no assurance that the Company will be successful in either situation in order to continue as a going concern. The Company is funding its initial operations by way of issuing Founder's shares.

In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management's plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking equity and/or debt financing. However management cannot provide any assurances that the Company will be successful in accomplishing any of its plans.

The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.



v3.3.1.900
CAPITAL STOCK
6 Months Ended
Oct. 31, 2015
Notes to Financial Statements  
NOTE 3 - CAPITAL STOCK

The Company's capitalization was reduced to 75,000,000 common shares with a par value of $0.001 per share on July 27, 2015. No preferred shares have been authorized or issued.

During September of 2015, the Company issued 100,000 common shares for cash of $50,000 and in October 2015, the Company issued 1,996,000 common shares to various consultants for past services rendered at $0.15 per share. The value was determined based on the average price of shares issued for cash and services in the past. On the same day 750,000 shares were issued in settlement of $102,692 of the Company's payables.

On October 31, 2015 the Company had 12,860,745 common shares issued and outstanding, and on April 30, 2015, the Company had 10,014,745 common shares issued and outstanding. All share information has been retrospectively restated to reflect the 35:1 reverse split approved on July 27, 2015.

 

As of October 31, 2015 there were 100,000 stock warrants outstanding relating to the issue of 100,000 common shares in September 2015. Each unit sold includeded one common share and one warrant.

 

As of October 31, 2015, the Company has granted $299,400 stock for stock-based compensation.



v3.3.1.900
RELATED PARTY TRANSACTIONS
6 Months Ended
Oct. 31, 2015
Notes to Financial Statements  
NOTE 4 - RELATED PARTY TRANSACTIONS

As of October 31, 2015 and April 30, 2015, the Company has received $39,011 and $36,913, respectively, in loans and payment of expenses from a related party. The loans are payable on demand and without interest. As of October 31, 2015 and April 30, 2015, a second related party has paid expenses of $0 and $21,883 respectively, on behalf of the Company. These amounts are separately stated on the Balance Sheet and are due on demand with no interest.



v3.3.1.900
RECENT ACCOUNTING PRONOUNCEMENTS
6 Months Ended
Oct. 31, 2015
Notes to Financial Statements  
NOTE 5 - RECENT ACCOUNTING PRONOUNCEMENTS

The company has evaluated all the recent accounting pronouncements and believes that none of them will have a material effect on the company's financial statement.



v3.3.1.900
SUBSEQUENT EVENTS
6 Months Ended
Oct. 31, 2015
Notes to Financial Statements  
NOTE 6 - SUBSEQUENT EVENTS

The Company has evaluated subsequent events from the balance sheet date through the date the financial statements were issued and has determined that there are no further events to disclose.



v3.3.1.900
GOING CONCERN (Details Narrative) - USD ($)
3 Months Ended 6 Months Ended 79 Months Ended
Oct. 31, 2015
Oct. 31, 2014
Oct. 31, 2015
Oct. 31, 2014
Oct. 31, 2015
Apr. 30, 2015
Going Concern Details Narrative            
Working capital deficit $ (167,851)   $ (167,851)   $ (167,851) $ (185,717)
Accumulated deficit (635,720)   (635,720)   (635,720) $ (201,493)
Net loss from operations $ (383,474) $ (2,750) $ (434,227) $ (7,357) $ (635,720)  


v3.3.1.900
CAPITAL STOCK (Details Narrative) - USD ($)
6 Months Ended
Oct. 31, 2015
Apr. 30, 2015
Capital Stock Details Narrative    
Common stock, par value $ 0.001 $ 0.001
Common stock, shares authorized 75,000,000 75,000,000
Common stock, shares issued 12,860,745 10,014,745
Common stock, shares outstanding 12,860,745 10,014,745
Stock-based compensation $ 299,400  
Common stock warrants outstanding 100,000  


v3.3.1.900
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)
Oct. 31, 2015
Apr. 30, 2015
Related Party Transactions Details Narrative    
Loans from related party $ 39,011 $ 36,913
Accounts payable - related party $ 21,883
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