|
Going Concern
|
12 Months Ended |
|---|---|
|
Aug. 31, 2012
|
|
| Organization, Consolidation and Presentation of Financial Statements | |
| Going Concern Note | NOTE 3. GOING CONCERN
The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in the notes to the financial statements, the Company has no established source of revenue. This raises substantial doubt about the Company's ability to continue as a going concern. Without realization of additional capital, it would be unlikely for the Company to continue as a going concern. The financial statements do not include any adjustments that might result from this uncertainty.
The Company's activities to date have been supported by equity financing by its founder. It has sustained losses in all reporting periods, with an inception to date loss of $35,527 as of August 31, 2012. Management is presently providing the required working capital to the Company to facilitate and pursue its business plan. |
|
Summary of Significant Accounting Policies
|
12 Months Ended |
|---|---|
|
Aug. 31, 2012
|
|
| Accounting Policies | |
| Significant Accounting Policies | 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 August 31, yearend.
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 have been no advertising costs since inception.
H. RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS
The Company's management has evaluated all recent accounting pronouncements since the date of the last audit through the issuance date of these financial statements. In the Company's opinion, none of the recent accounting pronouncements will have a material effect on the financial statements. |
|
Condensed Balance Sheets (USD $)
|
Aug. 31, 2012
|
Aug. 31, 2011
|
|---|---|---|
| Cash | $ 379 | $ 157 |
| Total current assets | 379 | 157 |
| Total assets | 379 | 157 |
| Accrued liabilities | 4,375 | 4,375 |
| Payable to affiliates | 29,532 | 18,627 |
| Total current liabilities | 33,907 | 23,002 |
| Common Stock: Paid-In Capital, Par Value $0.0001 per Share, 75,000,000 Shares Authorized, | 1,200 | 1,200 |
| Additional paid in capital | 800 | 800 |
| Deficit accumulated during development stage | (35,527) | (24,845) |
| Total shareholders' equity | (33,527) | (22,845) |
| Total liabilities and stockholders' equity (deficit) | $ 379 | $ 157 |
|
Condensed Statements of Cash Flows (USD $)
|
12 Months Ended | 43 Months Ended | |
|---|---|---|---|
|
Aug. 31, 2012
|
Aug. 31, 2011
|
Aug. 31, 2012
|
|
| Net loss | $ (10,682) | $ (11,818) | $ (35,527) |
| Increase (decrease) in Accrued Payables | 2,625 | 4,375 | |
| Net cash flows used in operating activities | (10,682) | (9,193) | (31,152) |
| Issuance of Common Stock | 2,000 | ||
| Advances/Loans from Affiliates | 10,905 | 8,654 | 29,532 |
| Net cash flows provided by financing activities | 10,905 | 8,654 | 31,532 |
| Net increase (decrease) in cash | 223 | (539) | 379 |
| Cash - beginning of period | 157 | 696 | |
| Cash - end of period | 379 | 157 | 379 |
| Interest | |||
| Income Taxes | |||
"+ text.join( "
\n" ) +"
" + text[p] + "
\n"; } } }else{ formatted = '' + raw + '
'; } html = ''+ "\n"+''+ "\n"+'| '+ "\n"+' formatted: '+ ( this.Default == 'raw' ? 'as Filed' : 'with Text Wrapped' ) +''+ "\n"+' | '+ "\n"+'
| '+ "\n"+' '+ "\n"+' | '+ "\n"+'
| '+ "\n"+' '+ "\n"+' | '+ "\n"+'
|
Organization and Description of Business
|
12 Months Ended |
|---|---|
|
Aug. 31, 2012
|
|
| Accounting Policies | |
| Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies | NOTE 1. ORGANIZATION AND DESCRIPTION OF BUSINESS
Essense Water, Inc. (the "Company"), was incorporated on January 29, 2009, under the laws of the State of Nevada. The Company is a development-stage company, established to develop, produce, and market a water-based consumer beverage. It has elected a fiscal year end of August 31.
The Company's authorized share capital consists of 75,000,000 shares of common stock, $0.0001 par value per share. At August 31, 2012 and 2011, the Company has 12,000,000 shares of its common stock issued and outstanding. |
|
Condensed Balance Sheets Parenthetical (USD $)
|
Aug. 31, 2012
|
Aug. 31, 2011
|
|---|---|---|
| Common stock par value | $ 0.0001 | $ 0.0001 |
| Common stock shares authorized | 75,000,000 | 75,000,000 |
| Common stock shares issued | 12,000,000 | 12,000,000 |
|
Document and Entity Information (USD $)
|
12 Months Ended | |
|---|---|---|
|
Aug. 31, 2012
|
Nov. 24, 2012
|
|
| Document and Entity Information: | ||
| Entity Registrant Name | ESSENSE WATER, INC. | |
| Document Type | 10-K | |
| Document Period End Date | Aug. 31, 2012 | |
| Amendment Flag | false | |
| Entity Central Index Key | 0001459287 | |
| Current Fiscal Year End Date | --08-31 | |
| Entity Common Stock, Shares Outstanding | 12,000,000 | |
| 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 | 2012 | |
| Document Fiscal Period Focus | FY | |
| Entity Public Float | $ 0 |
|
Condensed Statements of Operations (USD $)
|
12 Months Ended | 43 Months Ended | |
|---|---|---|---|
|
Aug. 31, 2012
|
Aug. 31, 2011
|
Aug. 31, 2012
|
|
| General and administrative | $ 10,682 | $ 10,818 | $ 34,527 |
| General and administrative - Related Party | 1,000 | 1,000 | |
| Total expenses | 10,682 | 11,818 | 35,527 |
| Net income (loss) | $ (10,682) | $ (11,818) | $ (35,527) |
| Net loss per common share - basic and diluted | $ 0.00 | $ 0.00 | |
| Weighted-average common shares outstanding - basic and diluted | 12,000,000 | 12,000,000 | |
|
Income Taxes
|
12 Months Ended | ||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Aug. 31, 2012
|
|||||||||||||||||||||||||||||||
| Income Tax Disclosure | |||||||||||||||||||||||||||||||
| Income Tax Disclosure | NOTE 6. INCOME TAXES
As of August 31,
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. |
|
Related Party Transactions
|
12 Months Ended |
|---|---|
|
Aug. 31, 2012
|
|
| Related Party Transactions | |
| Related Party Transactions Disclosure | NOTE 5. RELATED PARTY TRANSACTIONS
The Company's sole Officer and Director has advanced/loaned the Company funds and has paid certain third-party expenses on behalf of the Company. As of August 31, 2012 and 2011, the amounts owing the sole officer and director were $29,532 and $18,627, respectively. These amounts are payable on demand and are non-interest bearing.
The Company's sole officer and director has received and is owed no salary.
The Company neither owns nor leases any real or personal property.
The sole officer and director of the Company is involved in other business activities and may, in the future, become involved in other business opportunities as they become available. Thus he may face a conflict in selecting between the Company and his other business interests. The Company has not formulated a policy for the resolution of such conflicts.
During the year ended August 31, 2011, the Company paid a total of $1,000 to its legal counsel, Mr. Jeffrey Nichols, who is the brother of Kevin Nichols. During the year ended August 31, 2012, there was $0 paid to Jeff Nichols. |
|
Subsequent Events
|
12 Months Ended |
|---|---|
|
Aug. 31, 2012
|
|
| Subsequent Events | |
| Subsequent Events | NOTE 9. SUBSEQUENT EVENTS
The Company has evaluated subsequent events through the date that the financial statements were issued, and determined there are no other subsequent events to be reported. |
|
Net Operating Losses
|
12 Months Ended |
|---|---|
|
Aug. 31, 2012
|
|
| Net Operating Losses: | |
| Net Operating Losses | NOTE 7. NET OPERATING LOSSES
As of August 31, 2012, the Company has a net operating loss carryforward of approximately $35,527. Net operating loss carryforward expires 20 years from the date the loss was incurred. |
|
Stock Transactions
|
12 Months Ended |
|---|---|
|
Aug. 31, 2012
|
|
| Stockholders' Equity Note | |
| Stockholders' Equity Note Disclosure | NOTE 8. STOCK TRANSACTIONS
The stockholders' equity section of the Company contains the following classes of capital stock as of August 31:
Common stock, $0.0001 par value: 75,000,000 shares authorized; 12,000,000 shares issued and outstanding as of August 31, 2012 and 2011.
On May 29, 2009 the Company issued a total of 12,000,000 shares of common stock to its sole officer/director for cash at $0.00017 per share for total proceeds of $2,000. |
|
Condensed Statement of Shareholders' Equity (USD $)
|
Common Stock
|
Excess of par
|
Deficit accumulated during development stage
|
Total
|
|---|---|---|---|---|
| Balance at Jan. 28, 2009 | ||||
| Sale of common shares to founder for cash on May 29, 2009 | $ 1,200 | $ 800 | $ 2,000 | |
| Net loss | (3,911) | |||
| Balance at Aug. 31, 2009 | 1,200 | 800 | (3,911) | (1,911) |
| Balance - Shares at Aug. 31, 2009 | 12,000,000 | |||
| Net loss | (9,117) | |||
| Balance at Aug. 31, 2010 | 1,200 | 800 | (13,027) | (11,027) |
| Balance - Shares at Aug. 31, 2010 | 12,000,000 | |||
| Net loss | (11,818) | (11,818) | ||
| Balance at Aug. 31, 2011 | 1,200 | 800 | (24,845) | (22,845) |
| Balance - Shares at Aug. 31, 2011 | 12,000,000 | |||
| Net loss | (10,682) | (10,682) | ||
| Balance at Aug. 31, 2012 | $ 1,200 | $ 800 | $ (35,527) | $ (33,527) |
| Balance - Shares at Aug. 31, 2012 | 12,000,000 |
|
Warrants and Options
|
12 Months Ended |
|---|---|
|
Aug. 31, 2012
|
|
| Disclosure Text Block | |
| Derivatives and Fair Value | NOTE 4. WARRANTS AND OPTIONS
There are no warrants or options outstanding to acquire any additional shares of common stock. |