0001144204-12-002287.txt : 20120113 0001144204-12-002287.hdr.sgml : 20120113 20120113152917 ACCESSION NUMBER: 0001144204-12-002287 CONFORMED SUBMISSION TYPE: 10-K/A PUBLIC DOCUMENT COUNT: 11 CONFORMED PERIOD OF REPORT: 20111031 FILED AS OF DATE: 20120113 DATE AS OF CHANGE: 20120113 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WIRED ASSOCIATES SOLUTIONS INC CENTRAL INDEX KEY: 0001245841 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-DIRECT MAIL ADVERTISING SERVICES [7331] IRS NUMBER: 371458557 STATE OF INCORPORATION: NV FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 10-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 000-53161 FILM NUMBER: 12526510 BUSINESS ADDRESS: STREET 1: 711 S CARSON STREET 2: SUITE 4 CITY: CARSON CITY STATE: NV ZIP: 89701 BUSINESS PHONE: 888-991-3336 MAIL ADDRESS: STREET 1: 711 S CARSON STREET 2: SUITE 4 CITY: CARSON CITY STATE: NV ZIP: 89701 10-K/A 1 v245306_10ka.htm 10-K/A Unassociated Document
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-K/A

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

For the Fiscal Year Ended October 31, 2011

OR

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THESECURITIES EXCHANGE ACT OF 1934

WIRED ASSOCIATES SOLUTIONS, INC.
(Exact name of registrant as specified in its charter)

Nevada
 
333-142324
 
37-1458557
(State or other jurisdiction of
 
(Commission File Number)
 
(I.R.S. Employer Identification
incorporation or organization)
     
Number)

1559 East 38th Street
Brooklyn, NY, 11234
(Address of principal executive offices, including zip code)

(888) 991-3336
 (Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act: None

Securities registered pursuant to Section 12(g) of the Act:

Common Stock, $0.001 par value

Indicate by check mark whether the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ¨ No þ

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ¨ No þ

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 þ 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 þ No ¨

Indicate by check mark if disclosure of delinquent filers in response to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or 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. (Check one):

Large accelerated filer
¨
Accelerated filer
¨
Non-accelerated filer
¨
Smaller reporting company
þ

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

The aggregate market value of the voting and non-voting common equity held by non-affiliates of the registrant has not been computed based on the fact that no active trading market has been established as of April 30, 2011. As of January 12, 2012, the registrant had 2,009,520 shares of its common stock, par value $0.001, outstanding.

 
 

 
 
 
EXPLANATORY NOTE

 
We are filing this amendment on Form 10-K/A to our Annual Report on Form 10-K for the fiscal year ended October 31, 2011, to include a report by George Stewart, CPA, our independent registered public accounting firm (the “Report”). The Report is in connection with the audited balance sheet of Wired Associates Solutions, Inc. as of October 31, 2011 and 2010, and the related statement of operations, stockholders’ equity and cash flows for the years ended and for the period from February 14, 2004 (inception), to October 31, 2011.
 
 
 
1

 
 
ITEM 8. FINANACIAL STATEMENTS AND SUPPLEMENTARY DATA.
 
 
GEORGE STEWART, CPA
316 17th AVENUE SOUTH
SEATTLE, WASHINGTON 98144
(206) 328-8554  FAX(206) 328-0383

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM


To the Board of Directors
Wired Associates Solutions Inc.
 
 
I have audited the accompanying balance sheet of Wired Associates Solutions Inc. (A Development Stage Company) as of October 31, 2011 and 2010, and the related statement of operations, stockholders’ equity and cash flows for the years then ended and for the period from February 14, 2003 (inception), to October 31, 2011.  These financial statements are the responsibility of the Company’s management.  My responsibility is to express an opinion on these financial statements based on my audit.
 
I conducted my audit in accordance with the standards of the Public Company Accounting Oversight Board (United States).  Those standards require that I plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.  An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements.  An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation.  I believe that my audit provides a reasonable basis for my opinion.
 
In my opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Wired Associates Solutions Inc., (A Development Stage Company) as of October 31, 2011 and 2010, and the results of its operations and cash flows the years ended October 31, 2011 and 2010 and from February 14, 2003 (inception), to October 31, 2011 in conformity with generally accepted accounting principles in the United States of America.
 
The accompanying financial statements have been prepared assuming the Company will continue as a going concern.  As discussed in Note # 3 to the financial statements, the Company has had no operations and has no established source of revenue.  This raises substantial doubt about its ability to continue as a going concern.  Management’s plan in regard to these matters is also described in Note # 3.  The financial statements do not include any adjustments that might result from the outcome of this uncertainty.
 
 
/S/ George Stewart
 
 
Seattle, Washington
December 5, 2011
 
2

 
 
 
 
 
WIRED ASSOCIATES SOLUTIONS INC.
(A Development Stage Company)
Balance Sheets

 
   
As of
   
As of
 
   
October 31,
   
October 31,
 
   
2011
   
2010
 
ASSETS
           
             
Current Assets
           
Cash
  $ -     $ -  
                 
Total Current Assets
    -       -  
                 
Total Assets
  $ -     $ -  
                 
LIABILITIES & STOCKHOLDERS' EQUITY
               
                 
Current Liabilities
               
Accounts payable and accrued liabilities
  $ 9,352     $ 8,752  
Loan payable - related party
    37,048       25,819  
                 
Total Current Liabilities
    46,400       34,571  
                 
Total Liabilities
    46,400       34,571  
                 
Stockholders' Equity
               
                 
Common stock, ($0.001 par value, 50,000,000 shares authorized; 1,950,000 shares issued and outstanding as of October 31, 20011 and October 31, 2010
    1,950       1,950  
Additional paid-in capital
    69,550       69,550  
Deficit accumulated during development stage
    (117,900 )     (106,071 )
                 
Total Stockholders' Equity
    (46,400 )     (34,571 )
                 
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY
  $ -     $ -  

See Notes to Financial Statements
 
 
3

 
 
WIRED ASSOCIATES SOLUTIONS INC.
(A Development Stage Company)
Statements of Operations

 
 
             
February 14, 2003
 
   
Year
   
Year
   
(inception)
 
   
ended
   
ended
   
through
 
   
October 31,
   
October 31,
   
October 31,
 
   
2011
   
2010
   
2011
 
                   
Revenues
                 
                   
Income
  $ -     $ -     $ 11,412  
                         
Total Revenues
    -       -       11,412  
                         
Operating Expenses
                       
Accounting and audit fees
    7,500       7,500       64,906  
Bank charges
    -       -       941  
Communications
    -       -       4,373  
Consulting fees
    2,070       2,151       18,306  
Filing fees
    1,500       -       8,788  
Foreign exchange
    -       -       649  
Legal fees
    -       -       2,000  
Office and miscellaneous
    760       -       8,908  
Rent
    -       -       12,066  
Website costs
    -       -       5,124  
Write-down of prepaid expense
    -       -       3,250  
                         
Total Operating Expenses
    11,830       9,651       129,311  
                         
Other Expenses
                       
Interest paid
    -       -       2  
                         
Total Other Expenses
    -       -       2  
                         
Net Income (Loss)
  $ (11,830 )   $ (9,651 )   $ (117,900 )
                         
Basic earnings per share
  $ 0.01     $ 0.00     $    
                         
Weighted average number of common shares outstanding
    1,950,000       1,950,000          

See Notes to Financial Statements
 
 
4

 
 
WIRED ASSOCIATES SOLUTIONS INC.
(A Development Stage Company)
Statement of Changes in Stockholders' Equity
From February 14, 2003 (Inception) through October 31, 2011

 
                     
Deficit
       
   
 
   
 
   
 
   
Accumulated
       
   
 
   
Common
   
Additional
   
During
   
 
 
   
Common
   
Stock
   
Paid-in
   
Development
       
   
Stock
   
Amount
   
Capital
   
Stage
   
Total
 
                               
Balance, February 14, 2003
    -     $ -     $ -     $ -     $ -  
                                         
Stock issued for cash February, 2003
                                       
 @ $0.0025 per share
    1,000,000       1,000       1,500               2,500  
                                         
Stock issued for cash on June, 2003
                                       
 @ $0.05 per share
    700,000       700       34,300               35,000  
     Less share issue costs
                    (1,000 )             (1,000 )
                                         
Net loss,  October 31, 2003
                            (4,597 )     (4,597 )
   
                                       
Balance, October 31, 2003
    1,700,000     $ 1,700     $ 34,800     $ (4,597 )   $ 31,903  
                                         
Net loss,  Octobert 31, 2004
                            (22,399 )     (22,399 )
   
                                       
Balance, October 31, 2004
    1,700,000       1,700       34,800       (26,996 )     9,504  
                                         
Net loss,  October 31, 2005
                            (16,897 )     (16,897 )
   
                                       
Balance, October 31, 2005
    1,700,000       1,700       34,800       (43,893 )     (7,393 )
                                         
Net loss,  Octobert 31, 2006
                            (9,171 )     (9,171 )
   
                                       
Balance, October 31, 2006
    1,700,000       1,700       34,800       (53,064 )     (16,564 )
                                         
Stock issued for cash March and August, 2007 @ $0.10 per share
    150,000       150       14,850               15,000  
                                         
Net loss,  October 31, 2007
                            (10,869 )     (10,869 )
   
                                       
Balance, October 31, 2007
    1,850,000       1,850       49,650       (63,933 )     (12,433 )
                                         
Stock issued for cash January, 2008 @ $0.10 per share
    100,000       100       19,900               20,000  
                                         
Net loss,  October 31, 2008
                            (25,895 )     (25,895 )
                                         
Balance, October 31, 2008
    1,950,000       1,950       69,550       (89,828 )     (18,328 )
                                         
Net loss,  October 31, 2009
                            (6,592 )     (6,592 )
                                         
Balance, October 31, 2009
    1,950,000       1,950       69,550       (96,420 )     (24,920 )
                                         
Net loss,  October 31, 2010
                            (9,651 )     (9,651 )
                                         
Balance, October 31, 2010
    1,950,000       1,950       69,550       (106,071 )     (34,571 )
                                         
Net loss,  October 31, 2010
                            (11,830 )     (11,830 )
                                         
Balance, October 31, 2010
    1,950,000       1,950       69,550       (117,900 )     (46,400 )

See Notes to Financial Statements
 
 
5

 
 
WIRED ASSOCIATES SOLUTIONS INC.
(A Development Stage Company)
Statements of Cash Flows

 
               
February 14, 2003
 
   
Year
   
Year
   
(inception)
 
   
ended
   
ended
   
through
 
   
October 31,
   
October 31,
   
October 31,
 
   
2011
   
2010
   
2011
 
                   
CASH FLOWS FROM OPERATING ACTIVITIES
                 
                   
Net income (loss)
  $ (11,830 )   $ (9,651 )   $ (117,900 )
Adjustments to reconcile net loss to net cash
                       
provided by (used in) operating activities:
                       
                         
Changes in operating assets and liabilities:
                       
Accounts payable and accrued liabilities
    600       -       9,352  
                         
Net cash provided by (used in) operating activities
    (11,230 )     (9,651 )     (108,549 )
                         
CASH FLOWS FROM INVESTING ACTIVITIES
                       
                         
Net cash provided by (used in) investing activities
    -       -       -  
                         
CASH FLOWS FROM FINANCING ACTIVITIES
                       
                         
Loan payable - related party
    11,230       9,651       37,048  
Issuance of common stock
    -       -       71,500  
                         
Net cash provided by (used in) financing activities
    11,230       9,651       108,548  
                         
Net increase (decrease) in cash
    -       -       -  
                         
Cash at beginning of period
    -       -       -  
                         
Cash at end of period
  $ -     $ -     $ -  
                         
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
                       
                         
Cash paid during period for :
                       
                         
Interest
  $ -     $ -     $ -  
                         
Income Taxes
  $ -     $ -     $ -  
 
See Notes to Financial Statements
 
 
6

 
WIRED ASSOCIATES SOLUTIONS INC.
(An Development Stage Company)
Notes to Financial Statements
October 31, 2011

NOTE 1.   ORGANIZATION AND DESCRIPTION OF BUSINESS

Wired Associates Solutions, Inc. (the “Company”) was incorporated under the laws of the State of Nevada on February 14, 2003.  The Company was formed as a multimedia/marketing company that specializes in the design and creation of effective marketing products and services, primarily internet based.

The Company is in the development stage.  Due to the lack of results in its attempt to implement its original business plan, management determined it was in the best interests of the shareholders to look for other potential business opportunities that might be available to the Company.

Management has begun the process of analyzing the various alternatives that may be available to ensure the survival of the company and to preserve its shareholder's investment.

NOTE 2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

a.   Basis of Accounting

The Company’s financial statements are prepared using the accrual method of accounting.  The Company has elected an October 31 year-end.

b.   Basic Earnings per Share

ASC No. 260, “Earnings Per Share”, specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock.   The Company has adopted the provisions of ASC No. 260.

Basic net loss per share amounts is computed by dividing the net loss by the weighted average number of common shares outstanding.  Diluted earnings per share are the same as basic earnings per share due to the lack of dilutive items in the Company.

c.   Cash Equivalents

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.

d.  Use of Estimates and Assumptions

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. In accordance with ASC No. 250 all adjustments are normal and recurring.
 
 
7

 
 
WIRED ASSOCIATES SOLUTIONS INC.
(An Development Stage Company)
Notes to Financial Statements
October 31, 2011

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

e.   Income Taxes

Income taxes are provided in accordance with ASC No. 740, Accounting for Income Taxes.  A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carryforwards.  Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities.

Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of all of the deferred tax assets will be realized.  Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

f.   Revenue

The Company records revenue on the accrual basis when all goods and services have been performed and delivered, the amounts are readily determinable, and collection is reasonably assured.  The Company has not generated any revenue since its inception.

g.   Advertising

The Company will expense its advertising when incurred. There has been no advertising since inception.

h.   Recent Accounting Pronouncements

The Company has evaluated all the recent accounting pronouncements through the date the financial statements were issued and filed with the Securities and Exchange Commission and believe that none of them will have a material effect on the Company’s financial statements.

NOTE 3.   GOING CONCERN

These financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for its next fiscal year.  Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern.  At October 31, 2011, the Company had not yet achieved profitable operations, has accumulated losses of $117,900 since its inception, has a working capital deficiency of $46,400 and expects to incur further losses in the development of its business, all of which casts substantial doubt about the Company’s ability to continue as a going concern.  The Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due.  Management has no formal plan in place to address this concern but considers that the Company will be able to obtain additional funds by equity financing and/or related party advances, however there is no assurance of additional funding being available.
 
 
8

 
 
WIRED ASSOCIATES SOLUTIONS INC.
(An Development Stage Company)
Notes to Financial Statements
October 31, 2011
 
NOTE 4.   WARRANTS AND OPTIONS
 
There are no warrants or options outstanding to acquire any additional shares of common stock.

NOTE 5.  INCOME TAXES

   
As of October 31, 2011
 
       
Deferred tax assets:
     
Net operating tax carryforwards
  $ 117,900  
Tax Rate
    34 %
Gross deferred tax assets
    40,086  
Valuation allowance
    (40,086 )
         
Net deferred tax assets
  $ -0-  

Realization of deferred tax assets is dependent upon sufficient future taxable income during the period that deductible temporary differences and carryforwards are expected to be available to reduce taxable income.  As the achievement of required future taxable income is uncertain, the Company recorded a valuation allowance.

NOTE 6.  NET OPERATING LOSSES

As of October 31, 2011, the Company has a net operating loss carryforwards of approximately $117,900.  Net operating loss carryforward expires twenty years from the date the loss was incurred.

NOTE 7.  STOCK TRANSACTIONS

Transactions, other than employees’ stock issuance, are in accordance with ASC No. 505. Thus issuances shall be accounted for based on the fair value of the consideration received.  Transactions with employees’ stock issuance are in accordance with ASC No. 718. These issuances shall be accounted for based on the fair value of the consideration received or the fair value of the equity instruments issued, or whichever is more readily determinable.

 
 
9

 
 
WIRED ASSOCIATES SOLUTIONS INC.
(An Development Stage Company)
Notes to Financial Statements
October 31, 2011

NOTE 7.  STOCK TRANSACTIONS (Continued)

On February 14, 2003 the Company issued a total of 1,000,000 shares of common stock to two directors for cash in the amount of $0.0025 per share for a total of $2,500.

During June 2003 the Company completed its Regulation “D” Rule 504 offering and issued a total of 700,000 shares of common stock to twenty five unrelated investors for cash in the amount of $0.05 per share for a total of $35,000.

On March 23, 2007 the Company issued a total of 100,000 shares of common stock to a director for cash in the amount of $0.10 per share for a total of $10,000.

On June 15, 2007 the Company issued a total of 50,000 shares of common stock to a director for cash in the amount of $0.10 per share for a total of $5,000.

On January 31, 2008 the Company completed its SB-2 offering and issued a total of 100,000 shares of common stock to seven unrelated investors for cash in the amount of $0.20 per share for a total of $20,000.

As of October 31, 2011 the Company had 1,950,000 shares of common stock issued and outstanding.

NOTE 8.  RELATED PARTY TRANSACTIONS

As of October 31, 2011, a loan payable in the amount of $37,048 was due Jacqueline Winwood (a director) of which the loan is non-interest bearing with no specific repayment terms.  The funds were advanced on behalf of the Company to pay outstanding invoices.

Jacqueline Winwood, the sole officer and director of the Company may, in the future, become involved in other business opportunities as they become available, thus she may face a conflict in selecting between the Company and his other business opportunities.  The Company has not formulated a policy for the resolution of such conflicts.

NOTE 9.  STOCKHOLDERS’ EQUITY

The stockholders’ equity section of the Company contains the following classes of capital stock as of October 31, 2011:

Common stock, $ 0.001 par value: 50,000,000 shares authorized; 1,950,000 shares issued and outstanding.
 
 
10

 
 
 
ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES

 
(a)
The following documents are filed as a part of this Report.

Exhibit No.
 
Description
     
3.1
 
Articles of Incorporation of Wired Associates Solutions, Inc. dated February 14, 2003*
     
3.2
 
Bylaws of Wired Associates Solutions, Inc. dated February 14, 2003*
     
31.1
 
Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
     
31.2
 
Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
     
32.1
 
Certification Pursuant To 18 U.S.C. 1350, As Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
     
32.2
 
Certification Pursuant To 18 U.S.C. 1350, As Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

* Incorporated herein by reference to the Form SB-2 filed on May 14, 2001.

 
11

 

SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 
WIRED ASSOCIATES SOLUTIONS, INC.
       
Dated: January 13, 2012
By:
/s/ Justin Jarman
 
   
Name: Justin Jarman
 
   
Title: Chief Executive Officer, President,
 
   
Secretary and Treasurer
 
   
(Principal Executive Officer)
 

 
12

 
 
 
EX-31.1 2 v245306_ex31-1.htm EXHIBIT 31.1
CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER
PURSUANT TO 18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO SECTION 302 OF
THE SARBANES-OXLEY ACT OF 2002

I, Justin Jarman, certify that:

1.
I have reviewed this Form 10-K/A of Wired Associates Solutions, 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 present in this report;

4.
Along with the Principal Financial Officer, I am 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 13-a-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 financing reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal 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.
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 involved management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: January 13, 2012
By:
/s/ Justin Jarman
 
   
Justin Jarman
 
   
Principal Executive Officer
 
   
Wired Associates Solutions, Inc.
 

 
 

 
EX-31.2 3 v245306_ex31-2.htm EXHIBIT 31.2
CERTIFICATION OF PRINCIPAL ACCOUNTING OFFICER
PURSUANT TO
18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO SECTION 302 OF
THE SARBANES-OXLEY ACT OF 2002

I, Justin Jarman, certify that:

1.
I have reviewed this Form 10-K/A of Wired Associates Solutions, 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 present in this report;

4.
I am 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 13-a-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 financing reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal 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.
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 involved management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: January 13, 2012
By:
/s/ Justin Jarman
 
   
Justin Jarman
 
   
Principal Accounting Officer
 
   
Wired Associates Solutions, Inc.
 
 
 
 

 
EX-32.1 4 v245306_ex32-1.htm 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 this Annual Report of Wired Associates Solutions, Inc. (the “Company”) on Form 10-K/A for the year ended October 31, 2011, as filed with the U.S. Securities and Exchange Commission on the date hereof (the “Report”), I, Justin Jarman, Principal Executive Officer of the Company, certify to the best of my knowledge, pursuant to 18 U.S.C. Sec. 1350, as adopted pursuant to Sec. 906 of the Sarbanes-Oxley Act of 2002, that:

 
(1)
Such Annual Report on Form 10-K/A for the year ended October 31, 2011, fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 
(2)
The information contained in such Annual Report on Form 10-K/A for the year ended October 31, 2011, fairly presents, in all material respects, the financial condition and results of operations of Wired Associates Solutions, Inc.

Date: January 13, 2012
By:
/s/ Justin Jarman
 
   
Justin Jarman
 
   
Principal Executive Officer
 
   
Wired Associates Solutions, Inc.
 
 
 
 

 
EX-32.2 5 v245306_ex32-2.htm EXHIBIT 32.2
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 this Annual Report of Wired Associates Solutions, Inc.  (the “Company”) on Form 10-K/A for the year ended October 31, 2011, as filed with the U.S. Securities and Exchange Commission on the date hereof (the “Report”), I, Justin Jarman, Principal Accounting Officer of the Company, certify to the best of my knowledge, pursuant to 18 U.S.C. Sec. 1350, as adopted pursuant to Sec. 906 of the Sarbanes-Oxley Act of 2002, that:

 
(1)
Such Annual Report on Form 10-K/A for the year ended October 31, 2011, fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 
(2)
The information contained in such Annual Report on Form 10-K/A for the year ended October 31, 2011, fairly presents, in all material respects, the financial condition and results of operations of Wired Associates Solutions, Inc.

Date: January 13, 2012
By:
/s/ Justin Jarman
 
   
Justin Jarman
 
   
Principal Accounting Officer
 
   
Wired Associates Solutions, Inc.
 
 
 
 

 

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES(1)
12 Months Ended
Oct. 31, 2011
Accounting Policies [Abstract]  
Significant Accounting Policies [Text Block]
NOTE 2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 
a.   Basis of Accounting
 
The Company’s financial statements are prepared using the accrual method of accounting.  The Company has elected an October 31 year-end.
 
b.   Basic Earnings per Share
 
ASC No. 260, “Earnings Per Share”, specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock.   The Company has adopted the provisions of ASC No. 260.
 
Basic net loss per share amounts is computed by dividing the net loss by the weighted average number of common shares outstanding.  Diluted earnings per share are the same as basic earnings per share due to the lack of dilutive items in the Company.
 
c.   Cash Equivalents
 
The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.
 
d.  Use of Estimates and Assumptions
 
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. In accordance with ASC No. 250 all adjustments are normal and recurring.
 
e.   Income Taxes
 
Income taxes are provided in accordance with ASC No. 740, Accounting for Income Taxes.  A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carryforwards.  Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities.
 
Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of all of the deferred tax assets will be realized.  Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.
 
f.   Revenue
 
The Company records revenue on the accrual basis when all goods and services have been performed and delivered, the amounts are readily determinable, and collection is reasonably assured.  The Company has not generated any revenue since its inception.
 
g.   Advertising
 
The Company will expense its advertising when incurred. There has been no advertising since inception.
 
h.   Recent Accounting Pronouncements
 
The Company has evaluated all the recent accounting pronouncements through the date the financial statements were issued and filed with the Securities and Exchange Commission and believe that none of them will have a material effect on the Company’s financial statements.

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ORGANIZATION AND DESCRIPTION OF BUSINESS(1)
12 Months Ended
Oct. 31, 2011
Organization, Consolidation and Presentation Of Financial Statements [Abstract]  
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]
NOTE 1.   ORGANIZATION AND DESCRIPTION OF BUSINESS
 
Wired Associates Solutions Inc. (the Company) was incorporated under the laws of the State of Nevada on February 14, 2003.  The Company was formed as a multimedia/marketing company that specializes in the design and creation of effective marketing products and services, primarily internet based.
 
The Company is in the development stage.  Due to the lack of results in its attempt to implement its original business plan, management determined it was in the best interests of the shareholders to look for other potential business opportunities that might be available to the Company.
 
Management has begun the process of analyzing the various alternatives that may be available to ensure the survival of the company and to preserve its shareholder's investment.
XML 17 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
Balance Sheets (USD $)
Oct. 31, 2011
Oct. 31, 2010
ASSETS    
Cash $ 0 $ 0
Total Current Assets 0 0
Total Assets 0 0
Current Liabilities    
Accounts Payable and Accrued Liabilities 9,352 8,752
Loan payable - related party 37,048 25,819
Total Current Liabilities 46,400 34,571
Total Liabilities 46,400 34,571
Stockholders' Equity    
Common stock, ($0.001 par value, 50,000,000 shares authorized; 1,950,000 shares issued and outstanding as of October 31, 20011 and October 31, 2010 1,950 1,950
Additional paid-in capital 69,550 69,550
Deficit accumulated during development stage (117,900) (106,071)
Total Stockholders' Equity (46,400) (34,571)
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY $ 0 $ 0
XML 18 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Statement of Changes in Stockholders' Equity [Parenthetical] (USD $)
9 Months Ended 12 Months Ended
Oct. 31, 2003
Oct. 31, 2008
Oct. 31, 2007
Exercise Price Per Share One $ 0.0025    
Exercise Price Per Share Two $ 0.05    
Exercise Price Per Share   $ 0.10 $ 0.10
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XML 20 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Statements of Cash Flows (USD $)
12 Months Ended 105 Months Ended
Oct. 31, 2011
Oct. 31, 2010
Oct. 31, 2011
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) $ (11,830) $ (9,651) $ (117,901)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Accounts payable and accrued liabilities 600 0 9,352
Net cash provided by (used in) operating activities (11,230) (9,651) (108,549)
CASH FLOWS FROM INVESTING ACTIVITIES      
Net cash provided by (used in) investing activities 0 0 0
CASH FLOWS FROM FINANCING ACTIVITIES      
Loan payable - related party 11,230 9,651 37,048
Issuance of common stock 0 0 71,500
Net cash provided by (used in) financing activities 11,230 9,651 108,548
Net increase (decrease) in cash 0 0 0
Cash at Beginning of Period 0 0 0
Cash at End of Period 0 0 0
Cash paid during period for :      
Interest 0 0 0
Income Taxes $ 0 $ 0 $ 0
XML 21 R3.htm IDEA: XBRL DOCUMENT v2.4.0.6
Balance Sheets [Parenthetical] (USD $)
Oct. 31, 2011
Oct. 31, 2010
Common stock, par value (in dollars per share) $ 0.001 $ 0.001
Common Stock, Shares Authorized 50,000,000 50,000,000
Common Stock, Shares Issued 1,950,000 1,950,000
Common Stock, Shares Outstanding 1,950,000 1,950,000
XML 22 R1.htm IDEA: XBRL DOCUMENT v2.4.0.6
Document and Entity Information (USD $)
12 Months Ended
Oct. 31, 2011
Dec. 05, 2011
Document And Entity Information [Abstract]    
Entity Registrant Name WIRED ASSOCIATES SOLUTIONS INC  
Entity Central Index Key 0001245841  
Current Fiscal Year End Date --10-31  
Entity Filer Category Smaller Reporting Company  
Trading Symbol wrds  
Entity Common Stock, Shares Outstanding   1,950,000
Document Type 10-K  
Amendment Flag false  
Document Period End Date Oct. 31, 2011  
Document Fiscal Period Focus FY  
Document Fiscal Year Focus 2011  
Entity Well-Known Seasoned Issuer No  
Entity Voluntary Filers Yes  
Entity Current Reporting Status Yes  
Entity Public Float $ 0  
XML 23 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Statements of Operations (USD $)
12 Months Ended 105 Months Ended
Oct. 31, 2011
Oct. 31, 2010
Oct. 31, 2011
Revenues      
Income $ 0 $ 0 $ 11,412
Total Revenues 0 0 11,412
Operating Expenses      
Accounting and audit fees 7,500 7,500 64,906
Bank Charges 0 0 941
Communications 0 0 4,373
Consulting Fees 2,070 2,151 18,306
Filing fees 1,500 0 8,788
Foreign Exchange 0 0 649
Legal Fees 0 0 2,000
Office and miscellaneous 760 0 8,908
Rent 0 0 12,066
Website Costs 0 0 5,124
Write-down of prepaid expense 0 0 3,250
Total Operating Expenses 11,830 9,651 129,311
Other Expenses      
Interest paid 0 0 2
Total Other Expenses 0 0 2
Net Income (Loss) $ (11,830) $ (9,651) $ (117,901)
Basic earnings per share (in dollars per share) $ 0.01 $ 0 $ 0
Weighted average number of common shares outstanding (in shares) 1,950,000 1,950,000  
XML 24 R12.htm IDEA: XBRL DOCUMENT v2.4.0.6
INCOME TAXES
12 Months Ended
Oct. 31, 2011
Income Tax Disclosure [Abstract]  
Income Tax Disclosure [Text Block]
NOTE 5.  INCOME TAXES
 
   
As of October 31, 2011
 
       
Deferred tax assets:
     
Net operating tax carryforwards
  $ 117,900  
Tax Rate
    34 %
Gross deferred tax assets
    40,086  
Valuation allowance
    (40,086 )
         
Net deferred tax assets
  $ -0-  
 
Realization of deferred tax assets is dependent upon sufficient future taxable income during the period that deductible temporary differences and carryforwards are expected to be available to reduce taxable income.  As the achievement of required future taxable income is uncertain, the Company recorded a valuation allowance.
XML 25 R11.htm IDEA: XBRL DOCUMENT v2.4.0.6
WARRANTS AND OPTIONS
12 Months Ended
Oct. 31, 2011
Warrants and Options [Abstract]  
Warrants and Options Disclosure [Text Block]
NOTE 4.   WARRANTS AND OPTIONS
 
There are no warrants or options outstanding to acquire any additional shares of common stock.
XML 26 R15.htm IDEA: XBRL DOCUMENT v2.4.0.6
RELATED PARTY TRANSACTIONS
12 Months Ended
Oct. 31, 2011
Related Party Transactions [Abstract]  
Related Party Transactions Disclosure [Text Block]
NOTE 8.  RELATED PARTY TRANSACTIONS
 
At of October 31, 2011, a loan payable in the amount of $37,048 was due Jacqueline Winwood (a director) of which the loan is non-interest bearing with no specific repayment terms.  The funds were advanced on behalf of the Company to pay outstanding invoices.
 
Jacqueline Winwood, the sole officer and director of the Company may, in the future, become involved in other business opportunities as they become available, thus she may face a conflict in selecting between the Company and his other business opportunities.  The Company has not formulated a policy for the resolution of such conflicts.
XML 27 R13.htm IDEA: XBRL DOCUMENT v2.4.0.6
NET OPERATING LOSSES
12 Months Ended
Oct. 31, 2011
Net Operating Losses [Abstract]  
Net Operating Losses Disclosure [Text Block]
NOTE 6.  NET OPERATING LOSSES
 
As of October 31, 2011, the Company has a net operating loss carryforwards of approximately $117,900.  Net operating loss carryforward expires twenty years from the date the loss was incurred.
XML 28 R14.htm IDEA: XBRL DOCUMENT v2.4.0.6
STOCK TRANSACTIONS
12 Months Ended
Oct. 31, 2011
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]  
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]
NOTE 7.  STOCK TRANSACTIONS
 
Transactions, other than employees’ stock issuance, are in accordance with ASC No. 505. Thus issuances shall be accounted for based on the fair value of the consideration received.  Transactions with employees’ stock issuance are in accordance with ASC No. 718. These issuances shall be accounted for based on the fair value of the consideration received or the fair value of the equity instruments issued, or whichever is more readily determinable.

On February 14, 2003 the Company issued a total of 1,000,000 shares of common stock to two directors for cash in the amount of $0.0025 per share for a total of $2,500.
 
During June 2003 the Company completed its Regulation “D” Rule 504 offering and issued a total of 700,000 shares of common stock to twenty five unrelated investors for cash in the amount of $0.05 per share for a total of $35,000.
 
On March 23, 2007 the Company issued a total of 100,000 shares of common stock to a director for cash in the amount of $0.10 per share for a total of $10,000.
 
On June 15, 2007 the Company issued a total of 50,000 shares of common stock to a director for cash in the amount of $0.10 per share for a total of $5,000.
 
On January 31, 2008 the Company completed its SB-2 offering and issued a total of 100,000 shares of common stock to seven unrelated investors for cash in the amount of $0.20 per share for a total of $20,000.
 
As of October 31, 2011 the Company had 1,950,000 shares of common stock issued and outstanding.
XML 29 R16.htm IDEA: XBRL DOCUMENT v2.4.0.6
STOCKHOLDERS' EQUITY
12 Months Ended
Oct. 31, 2011
Stockholders Equity Note [Abstract]  
Stockholders Equity Disclosure [Text Block]
NOTE 9.  STOCKHOLDERS’ EQUITY
 
The stockholders’ equity section of the Company contains the following classes of capital stock as of October 31, 2011:
 
Common stock, $ 0.001 par value: 50,000,000 shares authorized; 1,950,000 shares issued and outstanding.
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Statement of Changes in Stockholders' Equity (USD $)
Common Stock [Member]
Additional Paid-In Capital [Member]
Retained Earnings [Member]
Total
Balance at Feb. 13, 2003 $ 0 $ 0 $ 0 $ 0
Balance (in shares) at Feb. 13, 2003 0      
Stock issued for cash February 1,000 1,500   2,500
Stock issued for cash February (in shares) 1,000,000      
Stock issued for cash on June 700 34,300   35,000
Stock issued for cash on June (in shares) 700,000      
Less share issue costs   (1,000)   (1,000)
Net loss     (4,597) (4,597)
Balance at Oct. 31, 2003 1,700 34,800 (4,597) 31,903
Balance (in shares) at Oct. 31, 2003 1,700,000      
Net loss     (22,399) (22,399)
Balance at Oct. 31, 2004 1,700 34,800 (26,996) 9,504
Balance (in shares) at Oct. 31, 2004 1,700,000      
Net loss     (16,897) (16,897)
Balance at Oct. 31, 2005 1,700 34,800 (43,893) (7,393)
Balance (in shares) at Oct. 31, 2005 1,700,000      
Net loss     (9,171) (9,171)
Balance at Oct. 31, 2006 1,700 34,800 (53,064) (16,564)
Balance (in shares) at Oct. 31, 2006 1,700,000      
Stock issued for cash 150 14,850   15,000
Stock issued for cash (in shares) 150,000      
Net loss     (10,869) (10,869)
Balance at Oct. 31, 2007 1,850 49,650 (63,933) (12,433)
Balance (in shares) at Oct. 31, 2007 1,850,000      
Stock issued for cash 100 19,900   20,000
Stock issued for cash (in shares) 100,000      
Net loss     (25,895) (25,895)
Balance at Oct. 31, 2008 1,950 69,550 (89,828) (18,328)
Balance (in shares) at Oct. 31, 2008 1,950,000      
Net loss     (6,592) (6,592)
Balance at Oct. 31, 2009 1,950 69,550 (96,420) (24,920)
Balance (in shares) at Oct. 31, 2009 1,950,000      
Net loss     (9,651) (9,651)
Balance at Oct. 31, 2010 1,950 69,550 (106,071) (34,571)
Balance (in shares) at Oct. 31, 2010 1,950,000      
Net loss     (11,830) (11,830)
Balance at Oct. 31, 2011 $ 1,950 $ 69,550 $ (117,900) $ (46,400)
Balance (in shares) at Oct. 31, 2011 1,950,000      
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GOING CONCERN
12 Months Ended
Oct. 31, 2011
Going Concern [Abstract]  
Going Concern Disclosure [Text Block]
NOTE 3.   GOING CONCERN
 
These financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for its next fiscal year.  Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern.  At October 31, 2011, the Company had not yet achieved profitable operations, has accumulated losses of $117,900 since its inception, has a working capital deficiency of $46,400 and expects to incur further losses in the development of its business, all of which casts substantial doubt about the Company’s ability to continue as a going concern.  The Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due.  Management has no formal plan in place to address this concern but considers that the Company will be able to obtain additional funds by equity financing and/or related party advances, however there is no assurance of additional funding being available.
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