10-Q/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 10-Q /A

Amendment No. 1

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

for the quarterly period ended June 30, 2011

¨ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

for the transition period from ______to _________.

Commission file number: 000-54049

MATTER OF TIME I CO.

(Exact name of registrant as specified in its charter)

Nevada	27-2564032
(State or other jurisdiction of	(I.R.S. Employer
incorporation or organization)	Identification No.)

101 Montgomery Street, Suite 2650

San Francisco, CA  94104

(Address of principal executive offices including zip code)

415-955-8900

(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 x No o

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 o No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer 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 x No o

The number of shares outstanding of the registrant’s common stock, par value $0.001, on August 15, 2011 was 200,000 shares.

EXPLANATORY NOTE

The sole purpose of this Amendment No. 1 to Matter of Time I Co. Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2011, filed with the Securities and Exchange Commission on August 22, 2011 (the “Form 10-Q”), is to furnish Exhibit 101 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).

No other changes have been made to the Form 10-Q. 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

Exhibit	Exhibit Description
31.1*	Certifications pursuant to Rule 13a-14(a) or 15d-14(a) under the Securities Exchange Act of 1934, as amended, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1*	Certifications pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS**	XBRL Instance Document
101.SCH**	XBRL Taxonomy Extension Schema Document
101.CAL**	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF**	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB**	XBRL Taxonomy Extension Label Linkbase Document
101.PRE**	XBRL Taxonomy Extension Presentation Linkbase Document

*These exhibits were previously filed as exhibits to Matter of Time I Co. Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2011, filed with the Securities and Exchange Commission on August 22, 2011.

** Pursuant to Rule 406T of Regulation S-T, these interactive data files 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 or Section 18 of the Securities Act of 1934 and otherwise are not subject to liability.

SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused this Report on Form 10-Q/A to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: August 30, 2011
	Matter of Time I Co.
	/s/ Mark E. Crone
	Mark E. Crone
	Chief Executive Officer
	(Principal Executive Officer and Principal Financial Officer)

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CONDENSED BALANCE SHEET (Parenthetical) (USD $)	Jun. 30, 2011	Dec. 31, 2010
Preferred Stock, shares authorized	10,000,000	10,000,000
Preferred Stock, issued	0	0
Preferred Stock, outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	200,000	200,000
Common stock, shares outstanding	200,000	200,000

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CONDENSED STATEMENT OF OPERATIONS (USD $)	2 Months Ended	3 Months Ended	6 Months Ended	14 Months Ended
	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2011	Jun. 30, 2011
REVENUE
COSTS AND OPERATING EXPENSES
General and administrative expenses	10,517	2,672	5,943	19,530
Total Operating Expesnes	10,517	2,672	5,943	19,530
NET LOSS BEFORE INCOME TAXES	(10,517)	(2,672)	(5,943)	(19,530)
Income tax provision				800
NET LOSS	$ (10,517)	$ (2,672)	$ (5,943)	$ (20,330)
Net loss per common share - basic and diluted	$ (0.17)	$ (0.01)	$ (0.03)	$ (0.11)
Weighted average number of common shares outstanding - basic and diluted	60,317	200,000	200,000	179,439

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Document and Entity Information	6 Months Ended
	Jun. 30, 2011	Aug. 15, 2011
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2011
Document Fiscal Year Focus	2011
Document Fiscal Period Focus	Q2
Entity Registrant Name	MATTER OF TIME I CO.
Entity Central Index Key	0001497632
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		200,000

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Related Party Transaction

6 Months Ended

Jun. 30, 2011

Related Party Transaction

Note 3 – Related Party Transaction

We have been provided office space and legal services by our Chief Executive Officer at no cost. We determined that such cost is nominal and did not recognize the rent expense or legal expense in our financial statements.  Additionally, our President and Chief Executive Officer is also the principal in the firm The Crone Law Group.  The Crone Law Group paid business license and operating expenses on our behalf in the amount of $1,434 and $2,003 for the three and six months ended June 30, 2011.

On March 14, 2011, we borrowed $6,000 from The Crone Law Group, a related party.  The unsecured promissory note matures and becomes due and payable on March 13, 2012.  Interest accrues on the note on the unpaid principal balance at a rate of 10% per annum and is pro-rated for partial periods.  At June 30, 2011, we had $6,178 outstanding under the promissory note including accrued interest of $178.

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Basis of Presentation

6 Months Ended

Jun. 30, 2011

Basis of Presentation

Note 1 – Basis of Presentation

The accompanying unaudited interim financial statements of Matter of Time I Co. (“we” and “our”), have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in Matter of Time I Co.’s Annual Report filed with the SEC on Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which substantially duplicate the disclosure contained in the audited financial statements for fiscal 2010 as reported in the Form 10-K have been omitted.

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CONDENSED STATEMENT OF CASH FLOWS (USD $)	2 Months Ended	6 Months Ended	14 Months Ended
	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (10,517)	$ (5,943)	$ (20,330)
Adjustments to reconcile net loss to net cash used in operating activities
Common stock issued for services	6,000		6,000
Changes in operating assets and liabilities
Prepaid Assets		(2,250)	(2,250)
Accounts payable		2,974	3,000
Accounts payable - related party	1,217	95	1,908
Accrued taxes payable	800		800
Accrued interest expense		178	178
Net Cash Used in Operating Activities	(2,500)	(4,946)	(10,694)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under notes		6,000	6,000
Issuance of common stock	6,000		6,000
Net Cash Provided by Financing Activities	6,000	6,000	12,000
NET INCREASE IN CASH AND CASH EQUIVALENTS	3,500	1,054	1,306
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD		252
CASH AND CASH EQUIVALENTS, END OF PERIOD	3,500	1,306	1,306
SUPPLEMENTAL DISCLOSURES OF CASH FLOWS INFORMATION:
Interest paid
Income taxes
Common Stock issued for payment of legal and management fees	$ 6,000		$ 6,000

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Going Concern

6 Months Ended

Jun. 30, 2011

Going Concern

Note 2 – Going Concern

The accompanying financial statements have been prepared assuming that we will continue as a going concern.  As reflected in the accompanying financial statements, we had negative working capital of $8,330 at June 30, 2011, a deficit accumulated during the development stage of $20,330 at June 30, 2011, and a net loss from operations of $2,672 and $5,943 for the three and six months then ended.

While we attempt to commence operations and generate revenues, our cash position may not be sufficient enough to support our daily operations.  We intend to raise additional funds by way of a public or private offering.  Management believes that the actions presently being taken to further implement our business plan and generate revenues provide the opportunity for us to continue as a going concern.  While we believe in the viability of our strategy to generate revenues and in our ability to raise additional funds, there can be no assurances to that effect.  Our ability to continue as a going concern is dependent upon our ability to further implement our business plan and generate revenues.

The financial statements do not include any adjustments that might be necessary if we are unable to continue as a going concern.

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CONDENSED BALANCE SHEET (USD $)	Jun. 30, 2011	Dec. 31, 2010
CURRENT ASSETS
Cash	$ 1,306	$ 252
Prepaid assets	2,250
TOTAL ASSETS	3,556	252
CURRENT LIABILITIES
Account payable	3,000	500
Account payable - related party	1,908	1,339
Accrued income taxes	800	800
Accrued interest	178
Unsecured promissory note - related party	6,000
Total Current Liabilities	11,886	2,639
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Preferred Stock 10,000,000 shares authorized, none issued and outstanding
Common stock, $0.001 par value, 100,000,000 shares authorized, 200,000 shares issued and outstanding	200	200
Additional paid-in capital	11,800	11,800
Deficit accumulated during the development stage	(20,330)	(14,387)
Total Stockholders' Equity	(8,330)	(2,387)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 3,556	$ 252