UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
 
FORM 10-Q


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

For the quarterly period ended        December 31, 2015

(  )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                         000-32361
 
YUMMIES,  INC.
(Exact name of registrant as specified in charter)

Nevada
87-0615629
(State or other jurisdiction of  incorporation or organization)
(I.R.S. Employer Identification No.)
   
1981 East Murray Holiday Rd,  Salt Lake City, Utah
84117
(Address of principal executive offices)
(Zip Code)
 
801-272-9294
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 checkmark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. Se 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 ]
 
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 CORPORATE ISSUERS:

Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the last practicable date

Class 
Outstanding as of February 1, 2015
Common  Stock, $0.001
2,505,000



INDEX

   
Page
    
Number
PART I.
 
   
ITEM 1.
Financial Statements (unaudited)
2
     
Balance Sheets
3
    December 31, 2015 and September 30, 2015
 
   
Statements of Operations
   For the three months ended December 31, 2015 and 2014 and the period June 10, 1998 to December 31, 2015
 
     
Statements of Cash Flows
5
   For the three  months ended December 31, 2015 and 2014 and the period June 10, 1998  to December 31, 2015
 
     
Notes to Financial Statements
6
     
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 4T.
Controls and Procedures
10
     
PART II.
   
     
ITEM 6.
Exhibits
11
     
Signatures 
12

1


PART I - FINANCIAL INFORMATION

 
ITEM 1. FINANCIAL STATEMENTS

The accompanying balance sheets of Yummies, Inc. (development stage company) at December 31, 2015 and September 30, 2015, and the related  statements of operations for the three months ended December 31, 2015 and 2014 and the period June 10, 1998  to December 31, 2015 , and statements of cash flows for the three months ended December 31, 2015 and 2014 and the period June 10, 1998  to December 31, 2015 have been prepared by the Company's management in conformity with accounting principles generally accepted in the United States of America.  In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature.

Operating results for the quarter ended December 31, 2015, are not necessarily indicative of the results that can be expected for the year ending September 30, 2016.
 
2


YUMMIES, INC.   
 
(A Development Stage Company)   
 
         
BALANCE SHEETS   
 
         
DECEMBER 31, 2015 AND SEPTEMBER 30, 2015   
 
         
   
December 31,
   
September 30,
 
   
2015
   
2015
 
Assets
       
         
Current Assets:
       
Cash
 
$
320
   
$
359
 
Prepaid expenses
   
10,833
     
3,333
 
                 
Total current assets
   
11,153
     
3,692
 
                 
Total Assets
 
$
11,153
   
$
3,692
 
                 
Liabilities and Stockholders' Equity
               
                 
Current Liabilities:
               
Accounts payable
 
$
4,910
   
$
5,550
 
Interest payable
   
2,439
     
2,364
 
Interest payable, stockholders
   
13,609
     
13,107
 
Notes payable
   
3,774
     
3,774
 
Notes payable, stockholders
   
25,100
     
25,100
 
                 
Total current liabilities
   
49,832
     
49,895
 
                 
Stockholders' Equity:
               
Common stock, $.001 par value 50,000,000 shares authorized, 2,505,000 issued and outstanding
   
2,505
     
2,505
 
Additional paid-in capital
   
76,522
     
60,972
 
Deficit accumulated during the development stage
   
(117,706
)
   
(109,680
)
                 
Total Stockholders' Equity
   
(38,679
)
   
(46,203
)
                 
Total Liabilities and Stockholders' Equity
 
$
11,153
   
$
3,692
 
 
The accompanying notes are an integral part of the financial statements.
3

 
YUMMIES, INC.
 
(A Development Stage Company)
 
 
STATEMENTS OF OPERATIONS
 
             
           
For the
 
           
Period
 
   
For the
   
For the
   
June 10, 1998
 
   
Three Months
   
Three Months
   
(Inception)
 
   
Ended
   
Ended
   
Through
 
   
December 31,
   
December 31,
   
December 31,
 
   
2015
   
2014
   
2015
 
             
Revenues
 
$
--
   
$
--
   
$
--
 
                       
Expenses, generaland administrative
   
7,449
     
4,994
     
101,658
 
                         
Operating loss
   
(7,449
)
   
(4,994
)
   
(101,658
)
                         
Other income (expense):
                       
   Interest expense
   
(578
)
   
(578
)
   
(16,048
)
                         
Net loss
 
$
(8,027
)
 
$
(5,572
)
 
$
(117,706
)
                         
Net loss per share
 
$
--
   
$
--
   
$
(0.05
)
                         
Weighted average shares outstanding
   
2,505,000
     
2,505,000
     
2,466,398
 
 
The accompanying notes are an integral part of the financial statements.
4


YUMMIES, INC.
 
(A Development Stage Company)
 
 
STATEMENTS OF CASH FLOWS
 
             
           
For the
 
           
Period
 
    
For the
   
For the
   
June 10, 1998
 
    
Three Months
   
Three Months
   
(Inception)
 
    
Ended
   
Ended
   
Through
 
    
December 31,
   
December 31,
   
December 31,
 
   
2015
   
2014
   
2015
 
             
Cash flows from operating activities:
           
Net loss
 
$
(8,027
)
 
$
(5,572
)
 
$
(117,706
)
Adjustment to reconcile net loss to cash provided by operating activities:
                       
Contribution from shareholder
   
15,550
     
6,050
     
65,498
 
Increase in prepaid expenses
   
(7,500
)
   
--
     
(10,833
)
Accounts payable converted into note payable
   
--
     
--
     
7,875
 
Increase in interest payable
   
578
     
578
     
16,047
 
Increase (decrease) in accounts payable
   
(640
)
   
(1,080
)
   
4,910
 
Net cash used by operating activities
   
(39
)
   
(24
)
   
(33,709
)
                       
Cash flows from investing activities
   
--
     
--
     
--
 
                       
Cash flows from financing activities:
                       
Cash contributed by shareholder
   
--
     
--
     
1,000
 
Proceeds from related  party borrowing
   
--
     
--
     
21,000
 
Issuance of common stock
   
--
     
--
     
12,029
 
                       
Net cash provided by financing activities
   
--
     
--
     
34,029
 
Net increase (decrease) in cash
   
(39
)
   
(24
)
   
320
 
                         
Cash, beginning of period
   
359
     
470
     
--
 
                         
Cash, end of period
 
$
320
   
$
446
   
$
320
 
Interest paid
 
$
--
   
$
--
   
$
--
 
 
The accompanying notes are an integral part of the financial statements.
5

YUMMIES, INC.
(A Development Stage Company)

NOTES TO FINANCIAL STATEMENTS



1.       Summary of Business and Significant Accounting Policies

a.                    Summary of Business

The Company was incorporated under the laws of the State of Nevada on June 10, 1998.  The Company was formed to pursue business opportunities.  The Company has not commenced principal operations and is considered a "Development Stage Company" as defined by FASB ASC 915 (formerly Statement of Financial Accounting Standards (SFAS) No. 7).

                b.             Basis of Presentation

The accompanying financial statements have been prepared in accordance with generally accepted accounting principles ("GAAP") as promulgated in the United States of America.

c.                    Cash Flows

For purposes of the statement of cash flows, the Company considers all highly liquid investments purchased with a maturity of three months or less to be cash or cash equivalents.

d.                   Net Loss Per Share

The net loss per share calculation is based on the weighted average number of shares outstanding during the period.

e.                    Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures.  Accordingly, actual results could differ from those estimates.

6

Notes to Financial Statements - Continued

f.                     Fair Value of Financial Instruments

ASC 820-10 (formerly SFAS No. 157, Fair Value Measurements) requires entities to disclose the fair value of financial instruments, both assets and liabilities recognized and not recognized on the balance sheet, for which it is practicable to estimate fair value. ASC 820-10 defines the fair value of a financial instrument as the amount at which the instrument could be exchanged in a current transaction between willing parties. As of December 31, 2015 and September 30, 2015, the carrying value of certain financial instruments approximates fair value due to the short-term nature of such instruments.

2.   Notes Payable

On January 10, 2007, and May 22, 2009 the Company converted $2,105 and $1,669 of accounts payable from its transfer agent into a one-year notes payable.  The note balance of $3,774 at December 31, 2015 and September 30, 2015 bears interest at 8% and both principal and accrued interest is convertible into common stock at $.025 per share. The first note payable was due on January 10, 2008. The second note payable was due on May 22, 2010.

3.   Notes Payable, Stockholders

Stockholder notes payable consist of the following at December 31, 2015 and September 30, 2015: 
 
   
December 31,
   
September 30,
 
   
2015
   
2015
 
Note payable to an individual, also a stockholder of the Company, interest is being charged at 8%, the note is unsecured and due on February 9, 2008. The note principal and accrued interest is convertible into common stock at $.025 per share.
 
$
6,000
   
$
6,000
 
                 
Notes payable to an individual also a stockholder and director of the Company, interest is being charged at 8%, the notes are unsecured and all are due one year from issuance.  The notes principal and accrued Interest are convertible into common stock at $.025 per share.
   
19,100
     
19,100
 
                 
     $ 25,100      $ 25,100  

7

Notes to Financial Statements - Continued

4.            Issuance of Common Stock

On August 13, 1998, the Company issued 1,000,000 shares of its $.001 par value common stock for an aggregate price of $1,000. 

In February 1999, pursuant to Rule 504 of Regulation D of the Securities and Exchange Commission, the Company sold 17,500 shares of its common stock at a price of $1.00 per share. Costs of $6,471 associated directly with the offering were offset against the proceeds.

On December 15, 2000, an officer and stockholder of the Company returned 600,000 shares of common stock to authorized but unissued shares.

On February 5, 2001, the Company authorized a 6 for 1 forward split of its common shares. The forward split has been retroactively applied in the accompanying financial statements.

5.            Warrants and Options

No options or warrants are outstanding to acquire the Company's common stock.

6.            Income Taxes

The Company has had no taxable income under Federal or State tax laws. The Company has loss carryforwards totaling $109,680 that may be offset against future federal income taxes. If not used, the carryforwards will expire between 2021 and 2035. Due to the Company being in the development stage and incurring net operating losses, a valuation allowance has been provided to reduce the deferred tax assets from the net operating losses to zero. Therefore, there are no tax benefits recognized in the accompanying statement of operations.

7.       Going Concern

As shown in the accompanying financial statements, the Company incurred a net loss of $8,027 during the three months ended December 31, 2015 and accumulated losses of $117,706 since inception at June 10, 1998. The Company's current liabilities exceed its current assets by $38,679 at December 31, 2015. These factors create an uncertainty as to the Company's ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent upon the success of raising additional capital through the issuance of common stock and the ability to generate sufficient operating revenue. The financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.
8

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

The Company's management is seeking and intends to acquire interests in various business opportunities which, in the opinion of management, will provide a profit to the Company but it does not have the working capital to be successful in this effort. The Company is not currently engaging in any substantive business activity and has no plans to engage in any such activity in the foreseeable future.  In its present form, the Company may be deemed to be a vehicle to acquire or merge with a business or company.  The Company does not intend to restrict its search to any particular business or industry, and the areas in which it will seek out acquisitions, reorganizations  or mergers may include,  but will not be limited to, the fields of high technology,  manufacturing,  natural resources,  service, research and development, communications,  transportation, insurance, brokerage, finance and all medically related fields,  among others. Although the Company has had discussions with various parties as to possible acquisitions, no definitive agreements have been reached with any such party, at this time.

Three month Period Ended December 31, 2015 and 2014

The Company did not generate any revenue during the three months ended December 31, 2015 and 2014.

General and administrative expenses were $7,449 for the three months ended December 31, 2015 compared to general and administrative expenses of $4,994 for the same period in 2014.  Interest expense was $578 for the three months ended December 31, 2015 compared to $578 for the same period in 2014. As a result of the foregoing, the Company realized net losses of $8,027 for the three months ended December 31, 2015 compared to $5,572 for the same period in 2014.  The Company's  net loss is attributable to a lack of business, increased professional costs associated with preparing the Company's public reports, and timing differences.

Liquidity and Capital Resources

At December 31, 2015, assets consisted of $320 in cash and 10,833 in prepaid expenses.  Liabilities consisted of $4,910 in accounts payable, $16,048 in accrued interest, a note payable of $3,774, and  $25,100 in notes payable to two stockholders, for total liabilities of $49,832, leaving the Company without any working capital.  

Since 2007, the Company has borrowed money from two stockholders of the Company.  At December 31, 2015 the outstanding balance is $25,100.  The notes are unsecured, bear interest at 8% and are convertible into common stock at $.025 per share.

Currently, the Company has no material commitments for capital expenditures.  Management anticipates that operating expenses for the next twelve months will be approximately $5,000 to $10,000.  Management understands that it does not have sufficient cash to meet its immediate operational needs and will require additional capital to cover ongoing operating expenses. Management may attempt to raise additional capital for its current operational needs through loans from its officers or shareholders, debt financing, equity financing or a combination of financing options.  However, there are no existing understandings, commitments or agreements for such an infusion; nor can there be assurances to that effect.

9

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
 
Not Required by smaller reporting companies.

ITEM 4T. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures. Our management, with the participation of our president/chief financial officer, carried out an evaluation of the effectiveness of our "disclosure controls and procedures" (as defined in the Securities Exchange Act of 1934 (the "Exchange Act") Rules 13a-15(e) and 15-d-15(e)) as of the end of our last fiscal quarter, December 31, 2015, (the "Evaluation Date"). Based upon that evaluation, our president/chief financial officer concluded that, as of the Evaluation Date, our disclosure controls and procedures are effective to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act (i) is recorded, processed, summarized and reported, within the time periods specified in the SEC's rules and forms and (ii) is accumulated and communicated to our management, including our president and our chief financial officer, as appropriate to allow timely decisions regarding required disclosure.

Changes in Internal Control Over Financial Reporting. There were no changes in our internal controls over financial reporting that occurred during our last fiscal quarter (ended December 31, 2015) that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

10


PART 2 - OTHER  INFORMATION



(a) Exhibits

Exhibit 31.1
Rule 13a-14(a)/15d-14(a) Certification.
   
Exhibit 32.1
Certification by the Chief Executive Officer/Acting Chief Financial Officer Relating to a Periodic Report Containing Financial Statements.*
   
101.INS
XBRL Instance*
   
101.SCH
XBRL Schema*
   
101.CAL
XBRL Calculation*
   
101.DEF
XBRL Definition*
   
101.LAB
XBRL Label*
   
101.PRE
XBRL Presentation*

* The Exhibit attached to this Form 10-Q shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to liability under that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

11



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 there unto duly authorize
 
 
Yummies, Inc.
 
[Registrant]
   
 
s/Susan Santage
 
Susan Santage, President & Treasurer
 
February 9, 2016

 
12



 


Exhibit 31.1

 
CERTIFICATION

 I, Susan Santage, certify that:

 1. I have reviewed this quarterly report on Form 10-Q of Yummies, 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 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 small business issuer as of, and for, the periods presented in this report;

 4. The registrant's other certifying officers  and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15e and 15d-15e) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the small business issuer 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 small business issuer, 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 small business issuer'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 small business issuer=s internal control over financial reporting that occurred during the small business issuer=s most recent fiscal quarter (the small business issuer=s fourth fiscal quarter in the case of an annual report) that has materially affected, or is likely to materially affect, the small business issuer=s internal control over financial reporting; and

 5. The small business issuer=s other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the small business issuer's auditors and the audit committee of small business issuer=s board of directors (or persons performing the equivalent function:

(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 small business issuer'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 small business issuer=s internal control over financial reporting.


Date:
February 9, 2016
/s/Susan Santage,
  Susan Santage, CEO & CFO
 
 




EXHIBIT 32.1

 

CERTIFICATION

 Pursuant to Section 906 of the Public Company Accounting Reform and Investor Protection Act of 2002 (18 U.S.C.ss. 1350, as adopted), I, Susan Santage, Chief Executive Officer and  Chief Financial Officer of the Company, hereby certifies that, to the best of his or her knowledge:

 1. The Company's Quarterly Report on Form 10-Q for the period ended December 31, 2015 and to which this Certification is attached as Exhibit 32.1 (the "PERIODIC REPORT") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

 2. The information contained in the Periodic Report fairly presents, in all material respects, the financial condition of the Company at the end of the period covered by the Periodic Report and results of operations of the Company for the period covered by the Periodic Report.

Dated: February 9, 2016


S/ Susan Santage
Susan Santage
CEO & CFO

A signed original of this written statement required by Section 906 has been provided to Yummies, Inc. and will be retained by Yummies, Inc. and furnished to the Securities and Exchange Commission or its staff upon request

 THIS CERTIFICATION ACCOMPANIES THIS REPORT PURSUANT TO SS. 906 OF THE SARBANES-OXLEY ACT OF 2002 AND SHALL NOT BE DEEMED "FILED" BY THE COMPANY FOR PURPOSES OF SECTION 18 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.






v3.3.1.900
Document and Entity Information - shares
3 Months Ended
Dec. 31, 2015
Feb. 01, 2015
Document and Entity Information:    
Entity Registrant Name YUMMIES INC  
Document Type 10-Q  
Document Period End Date Dec. 31, 2015  
Trading Symbol yumm  
Amendment Flag false  
Entity Central Index Key 0001073748  
Current Fiscal Year End Date --09-30  
Entity Common Stock, Shares Outstanding   2,505,000
Entity Filer Category Smaller Reporting Company  
Entity Current Reporting Status Yes  
Entity Voluntary Filers No  
Entity Well-known Seasoned Issuer No  
Document Fiscal Year Focus 2016  
Document Fiscal Period Focus Q1  
Entity Incorporation, State Country Name Nevada  
Entity Incorporation, Date of Incorporation Jun. 10, 1998  


v3.3.1.900
Balance Sheet - USD ($)
Dec. 31, 2015
Sep. 30, 2015
Current Assets:    
Cash $ 320 $ 359
Prepaid expenses 10,833 3,333
Total current assets 11,153 3,692
Total Assets 11,153 3,692
Current Liabilities:    
Accounts payable 4,910 5,550
Interest payable 2,439 2,364
Interest payable, stockholders 13,609 13,107
Notes payable 3,774 3,774
Notes payable, stockholders 25,100 25,100
Total current liabilities 49,832 49,895
Stockholders' Equity:    
Common stock, $.001 par value 50,000,000 shares authorized, 2,505,000 issued and outstanding 2,505 2,505
Additional paid-in capital 76,522 60,972
Deficit accumulated during the development stage (117,706) (109,680)
Total stockholders' equity (38,679) (46,203)
Total Liabilities and Stockholders' Equity $ 11,153 $ 3,692


v3.3.1.900
Balance Sheet Parenthetical - $ / shares
Dec. 31, 2015
Sep. 30, 2015
Balance Sheet Parenthetical    
Common stock par value $ 0.001 $ 0.001
Common stock shares authorized 50,000,000 50,000,000
Common stock shares issued 2,505,000 2,505,000
Common stock shares outstanding 2,505,000 2,505,000


v3.3.1.900
Statements of Operations - USD ($)
3 Months Ended 211 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2015
Statements of Operations      
Revenues
Expenses, general and administrative $ 7,449 $ 4,994 $ 101,658
Operating loss (7,449) (4,994) (101,658)
Other income (expense):      
Interest expense (578) (578) (16,048)
Net loss $ (8,027) $ (5,572) $ (117,706)
Net loss per share     $ (0.05)
Weighted average shares outstanding 2,505,000 2,505,000 2,466,398


v3.3.1.900
Statement of Cash Flows - USD ($)
3 Months Ended 211 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2015
Cash flows from operating activities:      
Net loss $ (8,027) $ (5,572) $ (117,706)
Adjustment to reconcile net loss to cash provided by operating activities:      
Contribution from shareholder 15,550 6,050 65,498
Increase in prepaid expenses (7,500)   (10,833)
Increase in accounts payable converted into note payable     7,875
Increase in interest payable 578 578 16,047
Increase (decrease) in accounts payable (640) (1,080) 4,910
Net cash used by operating activities $ (39) $ (24) $ (33,709)
Cash flows from investing activities
Cash flows from financing activities:      
Cash contributed by shareholder     $ 1,000
Proceeds from related party borrowing     21,000
Issuance of common stock     12,029
Net cash provided by financing activities     34,029
Net increase (decrease) in cash $ (39) $ (24) 320
Cash, beginning of period 359 470  
Cash, end of period $ 320 $ 446 $ 320
Interest paid
Income taxes paid


v3.3.1.900
1. Summary of Business and Significant Accounting Policies
3 Months Ended
Dec. 31, 2015
Notes  
1. Summary of Business and Significant Accounting Policies

1.         Summary of Business and Significant Accounting Policies

 

a.         Summary of Business

 

The Company was incorporated under the laws of the State of Nevada on June 10, 1998.  The Company was formed to pursue business opportunities.  The Company has not commenced principal operations and is considered a "Development Stage Company" as defined by FASB ASC 915 (formerly Statement of Financial Accounting Standards (SFAS) No. 7).

 

b.         Basis of Presentation

 

The accompanying financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) as promulgated in the United States of America.

 

c.         Cash Flows

 

For purposes of the statement of cash flows, the Company considers all highly liquid investments purchased with a maturity of three months or less to be cash or cash equivalents.

 

d.         Net Loss Per Share

 

The net loss per share calculation is based on the weighted average number of shares outstanding during the period.

 

e.         Use of Estimates

 

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures.  Accordingly, actual results could differ from those estimates.

 

f.          Fair Value of Financial Instruments

 

ASC 820-10 (formerly SFAS No. 157, Fair Value Measurements) requires entities to disclose the fair value of financial instruments, both assets and liabilities recognized and not recognized on the balance sheet, for which it is practicable to estimate fair value. ASC 820-10 defines the fair value of a financial instrument as the amount at which the instrument could be exchanged in a current transaction between willing parties. As of December 31, 2015 and September 30, 2015, the carrying value of certain financial instruments approximates fair value due to the short-term nature of such instruments.



v3.3.1.900
2. Notes Payable
3 Months Ended
Dec. 31, 2015
Notes  
2. Notes Payable

2.   Notes Payable

 

On January 10, 2007, and May 22, 2009 the Company converted $2,105 and $1,669 of accounts payable from its transfer agent into a one-year notes payable.  The note balance of $3,774 at December 31, 2015 and September 30, 2015 bears interest at 8% and both principal and accrued interest is convertible into common stock at $.025 per share. The first note payable was due on January 10, 2008. The second note payable was due on May 22, 2010.



v3.3.1.900
3. Notes Payable, Stockholders
3 Months Ended
Dec. 31, 2015
Notes  
3. Notes Payable, Stockholders

3.   Notes Payable, Stockholders

 

Stockholder notes payable consist of the following at December 31, 2015 and September 30, 2015:

 

 

 

 

 

December 31,

 

September 30,

 

 

 

2015

 

2015

Note payable to an individual, also a stockholder of the Company, interest is being charged at 8%, the note is unsecured and due on February 9, 2008. The note principal and accrued interest is convertible into common stock at $.025 per share

 

$

6,000

$

6,000

 

 

 

 

 

 

Notes payable to an individual also a stockholder and director of the Company, interest is being charged at 8%, the notes are unsecured and all are due one year from issuance.  The notes principal and accrued interest are convertible into common stock at $.025 per share

 

 

19,100

 

19,100

 

 

$

25,100

$

25,100



v3.3.1.900
4. Issuance of Common Stock
3 Months Ended
Dec. 31, 2015
Notes  
4. Issuance of Common Stock

4.         Issuance of Common Stock

 

On August 13, 1998, the Company issued 1,000,000 shares of its $.001 par value common stock for an aggregate price of $1,000.

 

In February 1999, pursuant to Rule 504 of Regulation D of the Securities and Exchange Commission, the Company sold 17,500 shares of its common stock at a price of $1.00 per share. Costs of $6,471 associated directly with the offering were offset against the proceeds.

 

On December 15, 2000, an officer and stockholder of the Company returned 600,000 shares of common stock to authorized but unissued shares.

 

On February 5, 2001, the Company authorized a 6 for 1 forward split of its common shares. The forward split has been retroactively applied in the accompanying financial statements.



v3.3.1.900
5. Warrants and Options
3 Months Ended
Dec. 31, 2015
Notes  
5. Warrants and Options

5.         Warrants and Options

 

No options or warrants are outstanding to acquire the Company's common stock.



v3.3.1.900
6. Income Taxes
3 Months Ended
Dec. 31, 2015
Notes  
6. Income Taxes

6.         Income Taxes

 

The Company has had no taxable income under Federal or State tax laws. The Company has loss carryforwards totaling $109,680 that may be offset against future federal income taxes. If not used, the carryforwards will expire between 2021 and 2035. Due to the Company being in the development stage and incurring net operating losses, a valuation allowance has been provided to reduce the deferred tax assets from the net operating losses to zero. Therefore, there are no tax benefits recognized in the accompanying statement of operations.



v3.3.1.900
7. Going Concern
3 Months Ended
Dec. 31, 2015
Notes  
7. Going Concern

7.                  Going Concern

 

As shown in the accompanying financial statements, the Company incurred a net loss of $8,027 during the three months ended December 31, 2015 and accumulated losses of $117,706 since inception at June 10, 1998. The Company’s current liabilities exceed its current assets by $38,679 at December 31, 2015. These factors create an uncertainty as to the Company’s ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent upon the success of raising additional capital through the issuance of common stock and the ability to generate sufficient operating revenue. The financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.



v3.3.1.900
1. Summary of Business and Significant Accounting Policies: B. Basis of Presentation (Policies)
3 Months Ended
Dec. 31, 2015
Policies  
B. Basis of Presentation

b.         Basis of Presentation

 

The accompanying financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) as promulgated in the United States of America.



v3.3.1.900
1. Summary of Business and Significant Accounting Policies: C. Cash Flows (Policies)
3 Months Ended
Dec. 31, 2015
Policies  
C. Cash Flows

c.         Cash Flows

 

For purposes of the statement of cash flows, the Company considers all highly liquid investments purchased with a maturity of three months or less to be cash or cash equivalents.



v3.3.1.900
1. Summary of Business and Significant Accounting Policies: D. Net Loss Per Share (Policies)
3 Months Ended
Dec. 31, 2015
Policies  
D. Net Loss Per Share

d.         Net Loss Per Share

 

The net loss per share calculation is based on the weighted average number of shares outstanding during the period.



v3.3.1.900
1. Summary of Business and Significant Accounting Policies: E. Use of Estimates (Policies)
3 Months Ended
Dec. 31, 2015
Policies  
E. Use of Estimates

e.         Use of Estimates

 

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures.  Accordingly, actual results could differ from those estimates.



v3.3.1.900
1. Summary of Business and Significant Accounting Policies: F. Fair Value of Financial Instruments (Policies)
3 Months Ended
Dec. 31, 2015
Policies  
F. Fair Value of Financial Instruments

f.          Fair Value of Financial Instruments

 

ASC 820-10 (formerly SFAS No. 157, Fair Value Measurements) requires entities to disclose the fair value of financial instruments, both assets and liabilities recognized and not recognized on the balance sheet, for which it is practicable to estimate fair value. ASC 820-10 defines the fair value of a financial instrument as the amount at which the instrument could be exchanged in a current transaction between willing parties. As of December 31, 2015 and September 30, 2015, the carrying value of certain financial instruments approximates fair value due to the short-term nature of such instruments.



v3.3.1.900
3. Notes Payable, Stockholders: Schedule Of Stockholders Notes Payable (Tables)
3 Months Ended
Dec. 31, 2015
Tables/Schedules  
Schedule Of Stockholders Notes Payable

 

 

 

December 31,

 

September 30,

 

 

 

2015

 

2015

Note payable to an individual, also a stockholder of the Company, interest is being charged at 8%, the note is unsecured and due on February 9, 2008. The note principal and accrued interest is convertible into common stock at $.025 per share

 

$

6,000

$

6,000

 

 

 

 

 

 

Notes payable to an individual also a stockholder and director of the Company, interest is being charged at 8%, the notes are unsecured and all are due one year from issuance.  The notes principal and accrued interest are convertible into common stock at $.025 per share

 

 

19,100

 

19,100

 

 

$

25,100

$

25,100



v3.3.1.900
1. Summary of Business and Significant Accounting Policies (Details)
3 Months Ended
Dec. 31, 2015
Details  
Entity Incorporation, State Country Name Nevada
Entity Incorporation, Date of Incorporation Jun. 10, 1998


v3.3.1.900
2. Notes Payable (Details) - USD ($)
Dec. 31, 2015
Sep. 30, 2015
May. 22, 2009
Jan. 10, 2007
Details        
Accounts payable converted to note payable [1] $ 3,774 $ 3,774 $ 1,669 $ 2,105
[1] 8% Interest. Convertible into common stock at $.025 per share.


v3.3.1.900
3. Notes Payable, Stockholders: Schedule Of Stockholders Notes Payable (Details) - USD ($)
Dec. 31, 2015
Sep. 30, 2015
Details    
Note payable to an individual, also a stockholder of the Company [1] $ 6,000 $ 6,000
Notes payable to an individual also a stockholder and director [1] 19,100 19,100
Notes payable, stockholders $ 25,100 $ 25,100
[1] 8% interest. Convertible into common stock at $.025 per share.


v3.3.1.900
4. Issuance of Common Stock (Details) - USD ($)
1 Months Ended
Feb. 28, 2001
Feb. 28, 1999
Dec. 15, 2000
Aug. 13, 1998
Details        
Represents the CommonStockIssueForCashAt001ShareOnAugust131998Shares (number of shares), as of the indicated date.       1,000,000
Common Stock Issue For Cash On August 13 1998 PerShare       $ 0.001
Represents the monetary amount of CommonStockIssueForCashAt001ShareOnAugust131998, as of the indicated date.       $ 1,000
Represents the CommonStockIssuedForCashInFebruary1999NetOfOfferingCostsOf6471Shares (number of shares), during the indicated time period.   17,500    
Sale of Stock, Price Per Share   $ 1.00    
Payments of Stock Issuance Costs   $ 6,471    
Common Stock Returned     600,000  
Stockholders' Equity Note, Stock Split the Company authorized a 6 for 1 forward split of its common shares      


v3.3.1.900
6. Income Taxes (Details)
Dec. 31, 2015
USD ($)
Details  
Operating Loss Carryforward $ 109,680


v3.3.1.900
7. Going Concern (Details) - USD ($)
3 Months Ended 211 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2015
Sep. 30, 2015
Details        
Net loss $ 8,027 $ 5,572 $ 117,706  
Deficit accumulated during the development stage 117,706   117,706 $ 109,680
Total stockholders' equity $ 38,679   $ 38,679 $ 46,203
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