10-Q/A

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q/A

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

FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2012

o 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: 000-28015

ROADSHIPS HOLDINGS, INC.

(Exact name of registrant as specified in its charter)

Delaware	20-5034780
(State or other Jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

284 W. Millbrook Road, Raleigh NC 27609

(Address of principal executive offices)

(919) 846-5229

(Registrant’s telephone number, including area code)

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   xNo o

Indicate by check mark whether the registrant is a large 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 o	Accelerated filer o
Non-accelerated filer   o    (do not check if a smaller reporting company)	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  o No x    

The number of shares of the registrant’s common stock outstanding as of August 20,  2012, was 187,633,430.

EXPLANATORY NOTE

The purpose of this Amendment No. 1 to Roadships Holding Inc.’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2012, filed with the Securities and Exchange Commission on August 20, 2012 (the “Form 10-Q”), is solely to furnish Exhibit 101 to the Form 10-Q in accordance with Rule 405 of Regulation S-T. Exhibit 101 to this report provides the consolidated financial statements and related notes from the Form 10-Q formatted in XBRL (eXtensible Business Reporting Language).

This Amendment No. 1 to the Form 10-Q speaks as of the original filing date of the Form 10-Q, does not reflect events that may have occurred subsequent to the original filing date, and does not modify or update in any way disclosures made in the original Form 10-Q.

Pursuant to Rule 406T of Regulation S-T, the interactive data files on Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the

Securities Act of 1933, as amended, are deemed not filed for purposes of  Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.

Item 6. Exhibits

See “Exhibit Index”.

SIGNATURES

In accordance with Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: August 20, 2012	Roadships Holdings, Inc
	By: /s/ Michael Nugent
	Michael Nugent Chief Executive Officer
	By: /s/ Michael Norton Smith Michael Norton Smith Chief Financial Officer

EXHIBIT INDEX

Exhibit No.	Description of Exhibit
3.1	Articles of Incorporation, as filed June 5, 2007 (included as Exhibit 3.1 to the Form SB-2 filed April 5, 2007, and incorporated herein by reference).
3.2	Bylaws (included as Exhibit 3.2 to the Form SB-2 filed April 5, 2007, and incorporated herein by reference).
31.1	Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (filed herewith).
31.2	Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (filed herewith).
32.1	Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (filed herewith).
32.2	Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (filed herewith).

101.INS*	XBRL Instance Document
101.SCH*	XBRL Schema Document
101.CAL*	XBRL Calculation Linkbase Document
101.DEF*	XBRL Definition Linkbase Document
101.LAB*	XBRL Label Linkbase Document
101.PRE*	XBRL Presentation Linkbase Document

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Going Concern

6 Months Ended

Jun. 30, 2012

Going Concern

Going Concern

Note 3 – Going Concern

We have not begun our core operations in the short-sea and ground freight industries and have not yet acquired the assets to enter these markets and we will require additional capital to do so.  There is no guarantee that we will acquire the capital to procure the assets to enter these markets or, upon doing so, that we will generate positive cash flows from operations.  Roadships Holdings’ financial statements have been prepared on a development stage company basis.  Substantial doubt exists as to Roadships Holdings’ ability to continue as a going concern. No adjustment has been made to these financial statements for the outcome of this uncertainty.

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Basis of Presentation and Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2012

Basis Of Presentation And Summary Of Significant Accounting Policies

Basis of Presentation and Summary of Significant Accounting Policies

Note 2 – Basis of Presentation and Summary of Significant Accounting Policies

Condensed Financial Statements

In the opinion of management, the accompanying financial statements includes all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows for the period ending June 30, 2012.  Preparing financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses.  Interim results are not necessarily indicative of results for a full year.  The information included in this Form 10-Q should be read in conjunction with information included in our audited financial statements for the period ended December 31, 2011, as reported in Form 10-K filed with the Securities and Exchange Commission on April 16, 2012.

Management further acknowledges that it is solely responsible for adopting sound accounting practices, establishing and maintaining a system of internal accounting control and preventing and detecting fraud.  The Company's system of internal accounting control is designed to assure, among other items, that 1) recorded transactions are valid; 2) valid transactions are recorded; and 3) transactions are recorded in the proper period in a timely manner to produce financial statements which present fairly the financial condition, results of operations and cash flows of the Company for the respective periods being presented.

Principles of Consolidation

Our consolidated financial statements include the accounts of Roadships Holdings, Inc. and all majority-owned subsidiaries. All significant inter-company accounts and transactions are eliminated in consolidation.

Property, Plant and Equipment

We record our property plant and equipment at historical cost.  The estimated useful lives of these assets range from three to seven years and are depreciated using the straight-line method over the asset’s useful life.

Foreign Currency Risk

We currently have two subsidiaries operating in Australia.  At June 30, 2012 and December 31, 2011, we had $135 and $214 Australian Dollars, respectively ($135 and $218 US Dollars, respectively) deposited into Australian banks.

Use of Estimates

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.

Net Loss Per Share

Basic and diluted net loss per share calculations are calculated on the basis of the weighted average number of common shares outstanding during the year. The per share amounts include the dilutive effect of common stock equivalents in years with net income. Basic and diluted loss per share is the same for the three months ended June 30, 2012 as the effect of our potential common stock equivalents would be anti-dilutive.

Recent Accounting Pronouncements

In September 2011, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2011-08, Intangibles – Goodwill and Other (Topic 350): Testing Goodwill for Impairment. The guidance in ASU 2011-08 is intended to reduce complexity and costs by allowing an entity the option to make a qualitative evaluation about the likelihood of goodwill impairment to determine whether it should calculate the fair value of a reporting unit. The amendments also improve previous guidance by expanding upon the examples of events and circumstances that an entity should consider between annual impairment tests in determining whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Also, the amendments improve the examples of events and circumstances that an entity having a reporting unit with a zero or negative carrying amount should consider in determining whether to measure an impairment loss, if any, under the second step of the goodwill impairment test. The amendments in this ASU are effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. Early adoption is permitted, including for annual and interim goodwill impairment tests performed as of a date before September 15, 2011, if an entity’s financial statements for the most recent annual or interim period have not yet been issued. The adoption of this guidance is not expected to have a material impact on the Company’s financial position or results of operations.

In June 2011, the FASB issued ASU 2011-05, “Comprehensive Income (Topic 220): Presentation of Comprehensive Income”, which is effective for annual reporting periods beginning after December 15, 2011. ASU 2011-05 will become effective for the Company on December 1, 2012. This guidance eliminates the option to present the components of other comprehensive income as part of the statement of changes in stockholders’ equity. In addition, items of other comprehensive income that are reclassified to profit or loss are required to be presented separately on the face of the financial statements. This guidance is intended to increase the prominence of other comprehensive income in financial statements by requiring that such amounts be presented either in a single continuous statement of income and comprehensive income or separately in consecutive statements of income and comprehensive income. The adoption of ASU 2011-05 is not expected to have a material impact on our financial position or results of operations.

In May 2011, the FASB issued ASU 2011-04, “Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs”, which is effective for annual reporting periods beginning after December 15, 2011. This guidance amends certain accounting and disclosure requirements related to fair value measurements. Additional disclosure requirements in the update include: (1) for Level 3 fair value measurements, quantitative information about unobservable inputs used, a description of the valuation processes used by the entity, and a qualitative discussion about the sensitivity of the measurements to changes in the unobservable inputs; (2) for an entity’s use of a nonfinancial asset that is different from the asset’s highest and best use, the reason for the difference; (3) for financial instruments not measured at fair value but for which disclosure of fair value is required, the fair value hierarchy level in which the fair value measurements were determined; and (4) the disclosure of all transfers between Level 1 and Level 2 of the fair value hierarchy. ASU 2011-04 will become effective for the Company on December 1, 2012. We are currently evaluating ASU 2011-04 and have not yet determined the impact that adoption will have on our financial statements.

In December 2010, the FASB issued ASU 2010-28, “Intangible –Goodwill and Other (Topic 350): When to perform Step 2 of the goodwill impairment test for reporting units with zero or negative carrying amounts.” This update requires an entity to perform all steps in the test for a reporting unit whose carrying value is zero or negative if it is more likely than not (more than 50%) that a goodwill impairment exists based on qualitative factors, resulting in the elimination of an entity’s ability to assert that such a reporting unit’s goodwill is not impaired and additional testing is not necessary despite the existence of qualitative factors that indicate otherwise. This ASU is effective for fiscal years beginning after December 15, 2010, and for interim periods within those fiscal years. We are currently evaluating the impact of this ASU; however, we do not expect the adoption of this ASU to have a material impact on our financial statements.

Roadships does not expect the adoption of recently issued accounting pronouncements to have a significant impact on its results of operations, financial position or cash flow.

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CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)	Jun. 30, 2012	Dec. 31, 2011
Current assets:
Cash	$ 135	$ 231
Total current assets	135	231
Property, plant and equipment, net of accumulated depreciation of $109,310 and $90,725 as of June 30, 2012 and December 31, 2011, respectively	13,800	32,385
TOTAL ASSETS	13,935	32,616
Accounts payable and accrued expenses	21,576	26,274
Loans from related parties	87,869	26,222
Total current liabilities	109,445	52,496
TOTAL LIABILITIES	109,445	52,496
Common stock, $0.001 par value. 1 billion shares authorized. 187,633,430 shares issued and outstanding at June 30, 2012 and December 31, 2011.	187,633	187,633
Additional paid in capital	5,385,328	5,385,328
Development stage deficit	(5,668,471)	(5,592,841)
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)	(95,510)	(19,880)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	$ 13,935	$ 32,616

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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	6 Months Ended		45 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012
Statement of Cash Flows [Abstract]
Net Loss	$ (75,630)	$ (76,925)	$ (5,668,471)
Depreciation	17,713	18,028	108,465
Non-cash compensation			3,853,750
Non-cash costs related to abandoned acquisitions			1,250,000
Accounts payable and accrued expenses	(4,380)	19,677	24,010
Capital lease obligation		(1,236)	(5,559)
Interest payable	816		1,092
Net cash used in operating activities	(61,481)	(40,456)	(436,713)
Cash proceeds from shareholder contributions		313	59,206
Proceeds from notes payable			7,400
Principal payments on notes payable			(7,400)
Payment of expenses by related parties		39,736	287,165
Cash proceeds from shareholder loan	68,862		94,862
Principal payments on shareholder loans	(6,731)		(6,731)
Net cash provided by financing activities	62,131	40,049	434,502
Effect of foreign exchange transactions	746	13	2,346
Net increase/(decrease) in cash	(96)	(394)	135
Cash and equivalents - beginning of period	231	427
Cash and equivalents - end of period	135	33	135
Cash paid for interest	849		1,178
Cash paid for income taxes
Acquisition of Endeavor Logistics Pty, Ltd. for stock			108,074
Forgiveness of shareholder loan			1,979
Deposit on acquisition paid in stock		$ 1,250,000	$ 1,250,000

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Organization and Nature of Business

6 Months Ended

Jun. 30, 2012

Organization And Nature Of Business

Organization and Nature of Business

Note 1 – Organization and Nature of Business

History

Roadships Holdings, Inc  was formed in Delaware on June 5, 2006 as Caddystats, Inc. (Roadships Holdings, Inc. and Caddystats shall hereinafter be collectively referred to as  “Roadships” “Caddystats” “Roadships Holdings”, the “Company”, “we’ or “us”)

Share Exchange and 5:1 Forward Split

On March 3, 2009, the owners of Roadships Holdings, Inc., a Florida corporation (“Roadships Florida”), and Roadships America, Inc., also a Florida corporation (“Roadships Am”), both privately held companies, exchanged all of their outstanding shares of common stock for 16,025,000 shares of the common stock of Caddystats, a “public” company, representing approximately 100% of the outstanding common shares of the Caddystats. After the share exchange transaction (the “Transaction”), Caddystats changed its name to Roadships Holdings, Inc. and increased the authorized common stock of Roadships Holdings to 1,000,000,000 shares.  As a result of the transaction, Roadships Florida and Roadships Am (the “Subsidiaries”) are now wholly-owned subsidiaries of Roadships Holdings.

In accordance with Accounting Standards Codification related to Business Combinations (“ASC 805”), the Subsidiaries are considered the accounting acquirer in the Transaction. Because the Subsidiaries owners as a group retained or received the larger portion of the voting rights in the combined entity and the Subsidiaries senior management represents a majority of the senior management of the combined entity, the Subsidiaries are considered the acquirer for accounting purposes and will account for the transaction as a reverse acquisition. The Transaction will be accounted for as a recapitalization, since at the time of the Transaction, Caddystats was a company with no or nominal operations, assets and liabilities. Consequently, the assets and liabilities and the historical operations that will be reflected in future consolidated financial statements will be those of the Subsidiaries and will be recorded using a historical cost basis. The financial statements have been prepared as if the Subsidiaries had always been the reporting company and, on the Transaction date, changed their name and reorganized their capital stock.

On February 25, 2009, the board of directors approved a 5:1 Forward Split of the Company’s common stock. All information in this Form 10-Q has been adjusted to reflect the forward split as if it took place as of the earliest period reported.

The Company adopted the accounting acquirer’s year end, December 31.

Our Business

Roadships is an emerging company in the short-sea and ground freight industry sectors operating through its wholly owned subsidiaries in the United States and Australia.

In the United States, Roadships Acquisitions US, Inc. is our subsidiary designated to identify and act upon synergistic acquisition targets throughout North America.  Roadships America, Inc, was established to develop and accommodate organic growth within the North America markets.

Roadships is currently attempting to develop a High Speed (HS) Monohull ship design based on a vessel concept that was initially developed by Kvaerner Masa Yards - Technology (now STX Europe).  The HS vessel design was conceived in the early 1990's for short sea shipping transportation throughout Europe using a hull form derived from a high speed ROPAX ferry built in Helsinki, Finland. This hull form was extensively tested and improved over a period of 5 years to optimize the hull form that offers the least resistance and allows the ship to maintain speed up to SS5.

Ground Freight Mergers and Acquisitions

The gestation period for a HS Monohull vessel is eighteen (18) months, best case, from start to finish. To drive short term cash flow, the Company’s strategic intent calls for the acquisition, merger and assimilation of privately held regional freight companies ranging in value from Eight Million USD ($8,000,000) to Twenty Million USD ($20,000,000). Strategically, Management intends to identify and acquire two (2) target operations quarterly – with one of the two being an over-performer and the other an under-performer – synergistically merging the two so as to optimize future operations of both operating entities.

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CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Jun. 30, 2012	Dec. 31, 2011
Statement of Financial Position [Abstract]
Accumulated depreciation of property, plant and equipment	$ 109,310	$ 90,725
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	187,633,430	187,633,430
Common stock, shares outstanding	187,633,430	187,633,430

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Basis of Presentation and Summary of Significant Accounting Policies (Details Narrative) (USD $)	Jun. 30, 2012	Dec. 31, 2011
Deposits in Bank (USD)	$ 135	$ 231
Subsidiaries- Australia
Deposits in bank, AUD	135	214
Deposits in Bank (USD)	$ 135	$ 218

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Document and Entity Information	6 Months Ended
	Jun. 30, 2012	Aug. 20, 2012
Document And Entity Information
Entity Registrant Name	ROADSHIPS HOLDINGS, INC.
Entity Central Index Key	0001389067
Document Type	10-Q
Document Period End Date	Jun. 30, 2012
Amendment Flag	false
Current Fiscal Year End Date	--12-31
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		187,633,430
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2012

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Related Party Transactions (Details Narrative) (USD $)	6 Months Ended		45 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012
Cash paid for interest	$ 849		$ 1,178
Benefical Shareholder
Amount loaned	68,862
Accrued interest on amount loaned	6,731
Interest rate on amount loaned	8.00%
Interest rate on default of the loan	10.00%
Interest Accrued	1,665
Cash paid for interest	$ 849

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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)	3 Months Ended		6 Months Ended		45 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012
REVENUES AND GROSS MARGIN
Revenues					$ 13,636
Cost of sales					16,215
Gross margin					(2,579)
General and administrative	23,049	30,967	56,998	58,887	4,285,855
Depreciation	8,701	9,014	17,713	18,028	108,465
Total operating expenses	31,750	39,981	74,711	76,915	4,394,320
Operating income / (loss)	(31,750)	(39,981)	(74,711)	(76,915)	(4,396,899)
Interest expense	(1,029)		(1,665)	(33)	(2,471)
Costs related to abandoned acquisitions					(1,270,760)
Total other	(1,029)		(1,665)	(33)	(1,273,231)
Foreign exchange gains / (losses)	3,355	10	746	23	1,659
Net loss	$ (29,424)	$ (39,971)	$ (75,630)	$ (76,925)	$ (5,668,471)
Net loss per common share - basic and diluted	$ 0.00	$ 0.00	$ 0.00	$ 0.00
Weighted average shares outstanding	187,633,430	187,633,430	187,633,430	186,942,822

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Property, Plant and Equipment

6 Months Ended

Jun. 30, 2012

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Note 6 – Property, Plant and Equipment

Property, Plant and Equipment consists principally of office furniture and equipment and vehicles.  Balances at June 30, 2012 and December 31, 2011 are as follows:

	06/30/12 (Unaudited)			12/31/11 (Audited)
Office equipment	$	87,836		$	87,836
Equipment		23,362			23,362
Vehicles		11,912			11,912
Total fixed assets at cost		123,110			123,110
Less: accumulated depreciation		(109,310	)		(90,725	)
Net fixed assets	$	13,800		$	32,385

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Capital

6 Months Ended

Jun. 30, 2012

Capital [Abstract]

Capital

Note 5 – Capital

At December 31, 2011, we had 187,633,430 common shares issued and outstanding from a total of 1 billion authorized.

We had no capital stock transactions for the six months ended June 30, 2012.

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Capital (Details Narrative)	Jun. 30, 2012	Dec. 31, 2011
Capital Details Narrative
Common stock, shares outstanding	187,633,430	187,633,430
Common stock, shares authorized	1,000,000,000	1,000,000,000

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Property, Plant and Equipment (Tables)

6 Months Ended

Jun. 30, 2012

Property Plant And Equipment Tables

Schedule of Property, Plant and Equipment

	06/30/12 (Unaudited)			12/31/11 (Audited)
Office equipment	$	87,836		$	87,836
Equipment		23,362			23,362
Vehicles		11,912			11,912
Total fixed assets at cost		123,110			123,110
Less: accumulated depreciation		(109,310	)		(90,725	)
Net fixed assets	$	13,800		$	32,385

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Subsequent Events

6 Months Ended

Jun. 30, 2012

Subsequent Events [Abstract]

Subsequent Events

Note 7 – Subsequent Events

We have evaluated subsequent events through the date of this report.  No subsequent events have been noted.

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Basis of Presentation and Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2012

Basis Of Presentation And Summary Of Significant Accounting Policies Policies

Principles of Consolidation

Principles of Consolidation

Our consolidated financial statements include the accounts of Roadships Holdings, Inc. and all majority-owned subsidiaries. All significant inter-company accounts and transactions are eliminated in consolidation.

Property, Plant and Equipment

Property, Plant and Equipment

We record our property plant and equipment at historical cost.  The estimated useful lives of these assets range from three to seven years and are depreciated using the straight-line method over the asset’s useful life.

Foreign Currency Risk

Foreign Currency Risk

We currently have two subsidiaries operating in Australia.  At June 30, 2012 and December 31, 2011, we had $135 and $214 Australian Dollars, respectively ($135 and $218 US Dollars, respectively) deposited into Australian banks.

Use of Estimates

Use of Estimates

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.

Net Loss Per Share

Net Loss Per Share

Basic and diluted net loss per share calculations are calculated on the basis of the weighted average number of common shares outstanding during the year. The per share amounts include the dilutive effect of common stock equivalents in years with net income. Basic and diluted loss per share is the same for the three months ended June 30, 2012 as the effect of our potential common stock equivalents would be anti-dilutive.

Recent Accounting Pronouncements

Recent Accounting Pronouncements

In September 2011, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2011-08, Intangibles – Goodwill and Other (Topic 350): Testing Goodwill for Impairment. The guidance in ASU 2011-08 is intended to reduce complexity and costs by allowing an entity the option to make a qualitative evaluation about the likelihood of goodwill impairment to determine whether it should calculate the fair value of a reporting unit. The amendments also improve previous guidance by expanding upon the examples of events and circumstances that an entity should consider between annual impairment tests in determining whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Also, the amendments improve the examples of events and circumstances that an entity having a reporting unit with a zero or negative carrying amount should consider in determining whether to measure an impairment loss, if any, under the second step of the goodwill impairment test. The amendments in this ASU are effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. Early adoption is permitted, including for annual and interim goodwill impairment tests performed as of a date before September 15, 2011, if an entity’s financial statements for the most recent annual or interim period have not yet been issued. The adoption of this guidance is not expected to have a material impact on the Company’s financial position or results of operations.

In June 2011, the FASB issued ASU 2011-05, “Comprehensive Income (Topic 220): Presentation of Comprehensive Income”, which is effective for annual reporting periods beginning after December 15, 2011. ASU 2011-05 will become effective for the Company on December 1, 2012. This guidance eliminates the option to present the components of other comprehensive income as part of the statement of changes in stockholders’ equity. In addition, items of other comprehensive income that are reclassified to profit or loss are required to be presented separately on the face of the financial statements. This guidance is intended to increase the prominence of other comprehensive income in financial statements by requiring that such amounts be presented either in a single continuous statement of income and comprehensive income or separately in consecutive statements of income and comprehensive income. The adoption of ASU 2011-05 is not expected to have a material impact on our financial position or results of operations.

In May 2011, the FASB issued ASU 2011-04, “Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs”, which is effective for annual reporting periods beginning after December 15, 2011. This guidance amends certain accounting and disclosure requirements related to fair value measurements. Additional disclosure requirements in the update include: (1) for Level 3 fair value measurements, quantitative information about unobservable inputs used, a description of the valuation processes used by the entity, and a qualitative discussion about the sensitivity of the measurements to changes in the unobservable inputs; (2) for an entity’s use of a nonfinancial asset that is different from the asset’s highest and best use, the reason for the difference; (3) for financial instruments not measured at fair value but for which disclosure of fair value is required, the fair value hierarchy level in which the fair value measurements were determined; and (4) the disclosure of all transfers between Level 1 and Level 2 of the fair value hierarchy. ASU 2011-04 will become effective for the Company on December 1, 2012. We are currently evaluating ASU 2011-04 and have not yet determined the impact that adoption will have on our financial statements.

In December 2010, the FASB issued ASU 2010-28, “Intangible –Goodwill and Other (Topic 350): When to perform Step 2 of the goodwill impairment test for reporting units with zero or negative carrying amounts.” This update requires an entity to perform all steps in the test for a reporting unit whose carrying value is zero or negative if it is more likely than not (more than 50%) that a goodwill impairment exists based on qualitative factors, resulting in the elimination of an entity’s ability to assert that such a reporting unit’s goodwill is not impaired and additional testing is not necessary despite the existence of qualitative factors that indicate otherwise. This ASU is effective for fiscal years beginning after December 15, 2010, and for interim periods within those fiscal years. We are currently evaluating the impact of this ASU; however, we do not expect the adoption of this ASU to have a material impact on our financial statements.

Roadships does not expect the adoption of recently issued accounting pronouncements to have a significant impact on its results of operations, financial position or cash flow.

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Organization and Nature of Business (Details Narrative) (USD $)	0 Months Ended	6 Months Ended
	Feb. 25, 2009	Jun. 30, 2012	Dec. 31, 2011	Mar. 03, 2009 Caddystats
Forward split of common stock	5.0
Effective Date of combination		Mar. 03, 2009
Percentage of outstanding stock acquired				100.00%
Common stock, shares authorized after combination		1,000,000,000	1,000,000,000
Common stock, shares exchanged in combination				16,025,000
Ground Freight Mergers and Acquisitions:
Gestation period for a HS Monohull vessel		1 year 6 months
Strategic intent for the acquisition, merger and assimilation of privately held regional freight companies, minimum value		$ 8,000,000
Strategic intent for the acquisition, merger and assimilation of privately held regional freight companies, maximum value		$ 20,000,000

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CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY / (DEFICIT) (Unaudited) (USD $)	Common Stock	Additional Paid-In Capital	Deficit Accumulated During the Development Stage	Total
Balance beginning at Sep. 26, 2008	$ 53,750	$ (53,750)
Balance beginning, Shares at Sep. 26, 2008	53,750,000
Net loss			(220)	(220)
Balance ending at Dec. 31, 2008	53,750	(53,750)	(220)	(220)
Balance beginning, Shares at Dec. 31, 2008	53,750,000
Shareholder forgiveness of debt		1,980		1,980
Shares issued to acquire Roadships Acquisitions Pty, Ltd (Australia)	10	(10)
Shares issued to acquire Roadships Acquisitions Pty, Ltd (Australia), shares	10,000
Stock dividend to existing shareholders	106,197	(106,197)
Stock dividend to existing shareholders, shares	106,197,430
Shares issued to acquire Endeavour Logistics Pty, Ltd.	1	108,073		108,074
Shares issued to acquire Endeavour Logistics Pty, Ltd., shares	500
Shares issued to President for services	5,000	845,000		850,000
Shares issued to President for services, shares	5,000,000
Shares issued for services	7,676	1,296,077		1,303,752
Shares issued for services, shares	7,675,500
Reduction of notes payable by related party		2,926		2,926
Contribution of equipment by related party		7,427		7,427
Payment of expenses by shareholders		115,246		115,246
Net loss			(2,297,656)	(2,297,656)
Balance ending at Dec. 31, 2009	172,633	2,216,772	(2,297,876)	91,529
Balance ending, shares at Dec. 31, 2009	172,633,430
Payment of expenses by shareholders		104,316		104,316
Cash contributions by shareholders		42,956		42,956
Stock based compensation	10,000	1,690,000		1,700,000
Stock based compensation, shares	10,000,000
Interest and principal payments made by related party		4,408		4,408
Net loss			(1,882,914)	(1,882,914)
Balance ending at Dec. 31, 2010	182,633	4,058,452	(4,180,790)	60,295
Balance ending, shares at Dec. 31, 2010	182,633,430
Interest and principal payments made by related party		1,236		1,236
Shares issued as deposit for acquisition	5,000	1,245,000		1,250,000
Shares issued as deposit for acquisition, shares	5,000,000
Expenses paid by affiliates		64,390		64,390
Cash contributed by related party		16,250		16,250
Net loss			(1,412,051)	(1,412,051)
Balance ending at Dec. 31, 2011	187,633	5,385,328	(5,592,841)	(19,880)
Balance ending, shares at Dec. 31, 2011	187,633,430
Net loss			(75,630)	(75,630)
Balance ending at Jun. 30, 2012	$ 187,633	$ 5,385,328	$ (5,668,471)	$ (95,510)
Balance ending, shares at Jun. 30, 2012	187,633,430

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Related Party Transactions

6 Months Ended

Jun. 30, 2012

Related Party Transactions [Abstract]

Related Party Transactions

Note 4 – Related Party Transactions

For the six months ended June 30, 2012, a beneficial shareholder loaned the Company $68,862 and made principal payments on those loans of $6,731.  According to our agreement with this shareholder, we accrue interest on all unpaid amounts at 8%.  Principal and interest are callable at any time.  If principal and interest are called and not repaid, the loan is considered in default after which interest is accrued at 10%.

During the six months ended June 30, 2012, we accrued $1,665 of interest and paid $849 in interest payments.

As of the date of this report, no principal or interest has been called by the maker of the note.

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Property, Plant and Equipment (Details) (USD $)	Jun. 30, 2012	Dec. 31, 2011
Fixed assets at cost	$ 123,110	$ 123,110
Less: accumulated depreciation	(109,310)	(90,725)
Net fixed assets	13,800	32,385
Office Equipment
Fixed assets at cost	87,836	87,836
Equipment
Fixed assets at cost	23,362	23,362
Vehicles
Fixed assets at cost	$ 11,912	$ 11,912