10-Q

 UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

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

For the quarterly period ended June 30, 2015

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 No. 333-171572

India Ecommerce Corporation

(Exact name of registrant as specified in its charter)

Nevada	27-4592289
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

1524 Rhine Street, Pittsburgh, PA	15232
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (412) 450-0028

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 past 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.

ý Yes           o 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 during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

ý Yes                      o No (Not required)

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	Smaller reporting company ý

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

Indicate the number of shares outstanding of each of the registrant's classes of common stock, as of the latest practicable date: 50,079,156 shares of common stock as of August 13, 2015.

INDIA ECOMMERCE CORPORATION

FOR THE FISCAL QUARTER ENDED

June 30, 2015

INDEX TO FORM 10-Q

PART I		Page
Item 1	Unaudited Condensed Financial Statements	3
Item 2	Management's Discussion and Analysis of Financial Condition and Results of Operations	14
Item 3	Quantitative and Qualitative Disclosures About Market Risk	19
Item 4	Controls and Procedures	19
PART II
Item 1	Legal Proceedings	20
Item 1A	Risk Factors	20
Item 2	Unregistered Sales of Equity Securities and Use of Proceeds	20
Item 3	Defaults Upon Senior Securities	20
Item 4	Mine Safety Disclosures	20
Item 5	Other Information	20
Item 6	Exhibits	20
	Signatures	21

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PART I

Item 1     Financial Statements

INDIA ECOMMERCE CORPORATION

Condensed Balance Sheets

	June 30,			December 31,
	2015			2014
	(unaudited)
ASSETS
Current assets
Cash	$	18,163		$	10,713
Deposits		-			280
Prepaid expenses		-			27,625
Total current assets		18,163			38,618
Long term assets
Property and equipment, net		1,219			2,081
Total long term assets		1,219			2,081
Total assets	$	19,382		$	40,699
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities
Accounts payable and accrued liabilities	$	16,693		$	8,189
Customer deposits		22,376			-
Notes payable		4,500			54,500
Total current liabilities		43,569			62,689
Stockholders' deficit
Common stock $0.001 par value; 75,000,000 shares
authorized; 50,079,156 and 36,119,167  shares issued
outstanding, respectively		50,080			36,120
Additional paid-in capital		662,398			509,656
Accumulated deficit		(736,665	)		(567,766	)
Total stockholders' deficit		(24,187	)		(21,990	)
Total liabilities and stockholders' deficit	$	19,382		$	40,699

See accompanying notes to unaudited condensed financial statements

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INDIA ECOMMERCE CORPORATION

Condensed Statements of Operations

(Unaudited)

	For the Three Months Ended						For the Six Months Ended
	June 30,						June 30,
	2015			2014			2015			2014
Revenue	$	5,000		$	8,375		$	7,500		$	12,375
Operating expenses
General and administrative		17,992			18,330			58,694			43,102
Total operating expenses		17,992			18,330			58,694			43,102
Net operating loss		(12,992	)		(9,955	)		(51,194	)		(30,727	)
Other income and expense
Debt discount		-			10,677			-			13,962
Change in derivative liability		-			-			15			26,591
Loss on extinguishment of debt		-			-			116,687			-
Interest expense		519			1,164			1,004			11,512
Total other income and expense		519			11,841			117,706			52,065
Loss before provision for income taxes		(13,511	)		(21,796	)		(168,899	)		(82,792	)
Net loss	$	(13,511	)	$	(21,796	)	$	(168,899	)	$	(82,792	)
Net loss per common share - basic and diluted	$	(0.000	)	$	(0.001	)	$	(0.004	)	$	(0.00	)
Weighted average common shares outstanding -
basic and diluted		50,079,156			25,477,500			44,750,950			25,477,500

See accompanying notes to unaudited condensed financial statements

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INDIA ECOMMERCE CORPORATION

Condensed Statements of Cash Fows

(Unaudited)

	For the Six Months Ended
	June 30,
	2015			2014
Cash flows from operating activities:	$	(168,899	)	$	(82,791	)
Net loss
Adjustments to reconcile net loss to net
cash provided by (used in) by operating activities:
Depreciation		862			862
Amortization of prepaid expenses		27,625			-
Amortization of debt discount		-			13,962
Loss on extinguishment of debt		116,687			4,500
Accrued interest on notes payable		-			11,512
Change in derivative liability		15			26,591
Changes in operating assets and liabilities:
Refund (payment) of rental deposit		280			(280	)
Customer deposit		22,376			-
Accounts payable and accrued liabilities		8,504			1,561
Net cash used by operating activities		7,450			(24,083	)
Cash flows from investing activities:		-			-
Cash flows from financing activities:
Payments on convertible notes payable		-			(25,000	)
Proceeds from convertible notes payable		-			32,500
Net cash provided by financing activities		-			7,500
Net change in cash		7,450			(16,583	)
Cash, beginning of period		10,713			19,675
Cash, end of period	$	18,163			3,092
Non-cash Investing and Financing Activities:
Stock issued for settlement of debt and derivative liability	$	166,702		$	-

See accompanying notes to unaudited condensed financial statements

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INDIA ECOMMERCE CORPORATION

Notes to Unaudited Condensed Financial Statements

June 30, 2015

NOTE 1 – DESCRIPTION OF BUSINESS

India Ecommerce Corporation (the "Company") was incorporated under the laws of the state of Nevada on January 19, 2011. The Company plans to build, promote and manage a multitude of ecommerce properties, in both website and mobile application formats, for the India market.

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

 The accompanying unaudited interim financial statements of India Ecommerce Corporation 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 for the year ended December 31, 2014 contained in the Company's Form 10 K originally filed with the Securities and Exchange Commission on April 15, 2015.  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 the interim periods are not necessarily indicative of the results to be expected for the full year.  

Use of Estimates

The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America 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.  A change in managements' estimates or assumptions could have a material impact on the Company's financial condition and results of operations during the period in which such changes occurred.

Actual results could differ from those estimates. The Company's financial statements reflect all adjustments that management believes are necessary for the fair presentation of their financial condition and results of operations for the periods presented.

Cash and Cash Equivalents

For purposes of the statements of cash flows, cash equivalents include all highly liquid investments with original maturities of three months or less which are not securing any corporate obligations. The Company maintains its cash in bank deposit accounts, which, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts.

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INDIA ECOMMERCE CORPORATION

Notes to Unaudited Condensed Financial Statements

June 30, 2015

Deposits

Deposits include a security deposit for office space located in Pittsburgh, PA.

Property and Equipment

Property and equipment are carried at cost. Expenditures for maintenance and repairs are charged against operations. Renewals and betterments that materially extend the life of the assets are capitalized. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation are removed from

the accounts, and any resulting gain or loss is reflected in income for the period.

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Depreciation is computed for financial statement purposes on a straight-line basis over estimated useful lives of the related assets. The estimated useful lives of depreciable assets are:

	Estimated
Classification	Useful Lives
Furniture and fixtures	5-7 years
Computers and office equipment	3-5 years

Revenue Recognition

The Company recognizes revenue for its professional services when persuasive evidence of an arrangement exists, performance of services has occurred, the sales price is fixed or determinable and collectability is probable.

Impairment of Long-lived Assets

The Company reviews long-lived assets for impairment when circumstances indicate the carrying amount of an asset may not be recoverable based on the undiscounted future cash flows of the asset. If the carrying amount of the asset is determined not to be recoverable, a write-down to fair value is recorded. Fair values are determined based on quoted market values, discounted cash flows, or external appraisals, as applicable. The Company reviews long-lived assets for impairment at the individual asset or the asset group level for which the lowest level of independent cash flows can be identified.  No impairment expense has been recorded on long-lived assets for the six months ended June 30, 2015 and June 30, 2014, respectively.

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INDIA ECOMMERCE CORPORATION

Notes to Unaudited Condensed Financial Statements

June 30, 2015

Income Taxes

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided for deferred tax assets if it is more likely than not these items will either expire before the Company is able to realize their benefits, or that future deductibility is uncertain.

The Company also follows the guidance related to accounting for income tax uncertainties. In accounting for uncertainty in income taxes, the Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely than not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. No liability for unrecognized tax benefits was recorded as of June 30, 2015 and December 31, 2014.

Fair Value Measurements

The fair value of a financial instrument is the amount that could be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Financial assets are marked to bid prices and financial liabilities are marked to offer prices. Fair value measurements do not include transaction costs. A fair value hierarchy is used to prioritize the quality and reliability of the information used to determine fair values. Categorization within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fair value hierarchy is defined into the following three categories:

Level 1: Quoted market prices in active markets for identical assets or liabilities

Level 2: Observable market-based inputs or inputs that are corroborated by market data

Level 3: Unobservable inputs that are not corroborated by market data

During the six months ended the Company's derivative liability was considered a level 2 financial instrument. See Note 6, for disclosures related to determining the fair market value of the derivative liability. As of June 30, 2015, the Company does not have any assets or liabilities that are required to be measured and recorded at fair value on a recurring basis.

Stock-Based Compensation

The Company records stock-based compensation at fair value as of the date of grant and recognizes the corresponding expense over the requisite service period (usually the vesting period), utilizing the Black-Scholes option-pricing model. The volatility component of the calculation is based on the historic volatility of the Company's stock or the expected future volatility. The expected life assumption is primarily based on historical exercise patterns and employee post-vesting termination behavior. The risk-free interest rate for the expected term of the option is based on the U.S. Treasury yield curve in effect at the time of grant.

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INDIA ECOMMERCE CORPORATION

Notes to Unaudited Condensed Financial Statements

June 30, 2015

Loss per Common Share

Basic earnings per share are calculated dividing income available to common stockholders by the weighted average number of common shares outstanding.  Diluted earnings per share are based on the assumption that all dilutive convertible shares and stock options and warrants were converted or exercised. Dilution is computed by applying the treasury stock method. Under this method, warrants and options are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period.  1,666,667 anti-dilutive shares were outstanding as of June 30, 2015, were excluded from that classification due to their anti-dilutive nature.

Recently Adopted Accounting Pronouncements

On June 10, 2014, the Financial Accounting Standards Board ("FASB") issued update ASU 2014-10, Development Stage Entities (Topic 915). Amongst other things, the amendments in this update removed the definition of development stage entity from Topic 915, thereby removing the distinction between development stage entities and other reporting entities from US GAAP.  In addition, the amendments eliminate the requirements for development stage entities to (1) present inception-to-date information on the statements of income, cash flows and shareholders' equity, (2) label the financial statements as those of a development stage entity;  (3) disclose a description of the development stage activities in which the entity is engaged and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage.

The amendments are effective for annual reporting periods beginning after December 31, 2014 and interim reporting periods beginning after December 15, 2015, however entities are permitted to early adopt for any annual or interim reporting period for which the financial statements have yet to be issued.  The Company has elected to early adopt these amendments and accordingly have not labeled the financial statements as those of a development stage entity and have not presented inception-to-date information on the respective financial statements.

There are no other recent accounting pronouncements that are expected to have a material effect on the Company's financial statements.

NOTE 3 – GOING CONCERN

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the recoverability of assets and the satisfaction of liabilities in the normal course of business. Since its inception, the Company has been engaged substantially in financing activities and developing its business plan and marketing. As a result, the Company incurred accumulated net losses through June 30, 2015 of $736,665. In addition, the Company's development activities since inception have been financially sustained through the sale of capital stock and capital contributions from note holders.

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INDIA ECOMMERCE CORPORATION

Notes to Unaudited Condensed Financial Statements

June 30, 2015

The ability of the Company to continue as a going concern is dependent upon its ability to raise additional capital from the sale of common stock or through debt financing and, ultimately, the achievement of significant operating revenues.

These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might result from this uncertainty.

NOTE 4 – PROPERTY AND EQUIPMENT

Property and equipment consisted of the following as of June 30, 2015 and 2014:

	June 30,
	2015			2014
Computers and office equipment	$	8,614		$	8,614
less: accumulated depreciation		(7,395	)		(5,671	)
Equipment - net	$	1,219		$	2,943

Depreciation expense included as a charge to income of $862 for the six months ended June 30, 2015 and June 30, 2014, respectively.

NOTE 5 – CUSTOMER DEPOSIT

On May 7, 2015 the Company entered into a six month exclusive, confidential consulting agreement with a client to provide the client with services designed to launch and manage certain television operations, including the purchase and configuration of the equipment necessary to do so.  Because the final total cost of such purchases isn't certain and until such time as the contract purchases have been completed, the Company has determined that the fee minus any expenditures would be disclosed as a customer deposit.

NOTE 6– NOTES PAYABLE

Convertible Notes Payable - Variable Conversion Price

On October 1, 2003 the Company issued a notes payable in the amount of $50,000.repayable on or before February 28, 2014.

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INDIA ECOMMERCE CORPORATION

Notes to Unaudited Condensed Financial Statements

June 30, 2015

On February 23, 2015, the holders of the note executed a Securities Exchange Agreement whereby they sold the note to a third unrelated party.  Simultaneously, the Company amended the note to include a conversion feature equal to a 70% discount of the lowest intraday quoted price for the previous 45 trading days as traded on the National Quotations Bureau.  No additional fees were charged to the Company.

The new note contained a modification which rendered it substantially different from the original note.  Therefore, a loss from debt extinguishment is recognized for the difference in the fair value of the reacquisition price (including non-monetary assets) given up and the carrying value of the original instrument (instrument extinguished). 

During the period from February 23, 2015 through March 23, 2015, the Company issued

13,959,989 of its common shares to repay the entire $50,000 balance of the note payable.  Due to the variable conversion price, the Company recorded a derivative liability in connection with the convertible note payable, which was extinguished upon issuance of the common shares.  The Company recorded a loss on extinguishment of debt in the amount of $116,687 as a result of this transaction.

The Company valued the derivative liability, consisting primarily of the embedded conversion feature of the convertible debt, at issuance at fair value and revalues its derivative financial instruments at each conversion date.  Any change in fair value is charged to earnings of the period where the derivative financial instrument is modified or converted. The fair value of these derivative financial instruments was determined using the Black-Scholes option pricing model. The average inputs (or assumptions) the Company used to value the derivative liabilities at issuance and conversions during the period ended June 30, 2015 were as follows:

(1) dividend yield of 0%

(2) expected daily volatility of  109%

(3) risk-free interest rate of 0.52%

(4) expected life of 0.4 years, and

(5) estimated fair value of the Company's common stock of $0.015 per share.

The components of notes payable at June 30, 2015 and December 31, 2014 are summarized in the table below:

	June 30,		December 31,
	2015		2014
Note payable – 24% interest, unsecured and due January 2013 (1)	$	4,500	$	4,500
Note payable – repayable on February 28, 2014  with interest of $25,000, secured (2)		-		50,000
	$	4,500	$	54,500

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INDIA ECOMMERCE CORPORATION

Notes to Unaudited Condensed Financial Statements

June 30, 2015

NOTE 7 – STOCKHOLDERS' DEFICIT

Between February 23, 2015 and March 23, 2015 the Company issued 13,959,989 of its restricted common shares to convert a note payable of $50,000 and $116,702 of derivative liability.  The shares were issued at an average price of $0.0036 per share

The total number of common shares authorized that may be issued by the Company is 75,000,000 shares with a par value of $0.001 per share. There are no preferred shares authorized to be issued.  There were 50,079,156 and 36,119,167 shares of common stock issued and outstanding at June 30, 2015 and December 31, 2014 respectively.

During the year ended December 31, 2014, the Company sold 6,000,000 shares of common stock, for $0.02 per share, or total cash proceeds of $120,000.

During the year ended December 31, 2014, the Company issued 4,166,667 shares of common shares to various parties, for services rendered, as well as warrants to purchase 1,666,667 shares of common stock at $0.06 per share through December 1, 2019. The services were valued at $249,125 and was based on the fair value of stock and warrants issued on the date the shares were issued, which was an average of $0.06 per share.

On October 7, 2014, the Company issued 225,000 of its restricted common shares, to a lender, to fulfill the obligation to provide the lender with those shares if the loan was not repaid by January 11, 2013, which shares were recorded at a fair value of $0.05 per share, charged to interest expense.

On December 31, 2014, the Company recorded stock subscriptions payable for 500,000 shares of common shares, to a lender, to fulfill the obligation to provide the lender with those shares as the loan was not repaid by its maturity date of February 28, 2014, which shares were recorded at a fair value of $0.05 per share, charged to interest expense.

On December 30, 2014, the Company issued 250,000 of its restricted common shares to liquidate a note payable of $20,000 plus accrued interest of $711. The fair value of the stock was $0.05 and was based on the trading price per share of the Company on the date of issuance. As such, the Company recognized a gain on settlement of debt upon issuance of $8,211.

NOTE 8 – STOCK PURCHASE WARRANTS

During the year ended December 31, 2014, the Company issued 1,666,667 warrants to creditors to acquire its common stock. In applying the Black-Scholes options pricing model to the options and warrant grants, the fair value of our share-based awards granted were estimated using the following assumptions for the periods indicated below:

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INDIA ECOMMERCE CORPORATION

Notes to Unaudited Condensed Financial Statements

June 30, 2015

	December 31, 2014
Risk-free interest rate		1.52	%
Expected options life		2.50
Expected dividend yield		-
Expected price volatility		701	%

A summary of the status of the Company's stock options as of June 30, 2015 and changes during the periods ended December 31, 2014 and June 30, 2015 is presented below:

	Number of Warrants
Outstanding at December 31, 2013		-
Warrants granted		1,666,667
Warrants exercised		-
Warrants forfeited or expired		-
Outstanding at December 31, 2014		1,666,667
Exercisable at December 31, 2014		1,666,667

The following table summarizes information about options and warrants as of June 30, 2015:

		Warrants Outstanding						Warrants Exercisable
Exercise Price		Number Outstanding		Weighted Average Remaining Contractual Life (in years)		Weighted Average Exercise Price		Number Exercisable		Weighted Average Exercise Price
$	0.06		1,666,667		4.92	$	0.06		1,666,667	$	0.06
			1,666,667		4.92	$	0.06		1,666,667	$	0.06

NOTE 9– SUBSEQUENT EVENTS

The Company has evaluated subsequent events through the date of this report and has not identified any reportable events.

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Item 2     Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion and analysis of our financial condition and plan of operations should be read in conjunction with our unaudited interim financial statements and related notes appearing elsewhere in this Quarterly Report.  Various statements have been made in this Quarterly Report on Form 10-Q that may constitute "forward-looking statements".  Forward-looking statements may also be made in our other reports filed with or furnished to the United States Securities and Exchange Commission (the "SEC") and in other documents.  In addition, through our management we may make oral forward-looking statements.

Forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from such statements.  The words "believe," "expect," "anticipate," "optimistic," "intend," "plan," "aim," "will," "may," "should," "could," "would," "likely" and similar expressions are intended to identify forward-looking statements.  These statements are not guarantees of future performance, and therefore, you should not put undue reliance upon them.  Some of the statements that are forward-looking include: our ability to successfully implement our business plan; our estimates of revenues and of other expenses associated with our operations; and our ability to generate sufficient cash flows and maintain adequate sources of liquidity to finance our ongoing operations and capital expenditures.  We undertake no obligation to update or revise any forward-looking statements.

History and Overview

India Ecommerce Corporation ("we," "our," "us," or "the Company") was incorporated on January 19, 2011 under the laws of the State of Nevada.

Plan of Operations

We are in the business of developing, promoting distribution, and managing television networks, television productions and ecommerce websites/mobile applications, targeting a wide-ranging marketplace in the United States and in India in both the consumer and business marketplace. Our goal is to push our television and online services into the marketplace in a quick and efficient manner to capture first mover advantages, and to acquire a user/viewer/subscriber base from which we can build our proprietary ecommerce solutions.   

India Ecommerce Corporation launched the development of a number of websites in the third quarter, and all of these have experienced growth in unique visitors in the fourth quarter. Through a partnership with Jeffrey Martin Global Media, LLC, a TV production and management company, we have also begun operating under the brand name "uknowme."

Nyooz and HRelate

Both NyoozFlix.com and HRelate.com continued to gain in unique users in Q4. These websites will undergo major design changes in Q2 in 2015 to boost page views. There is continued interest in "Nyooz" branded TV productions, and those discussions are being led under our "uknowme" brand.

HRelate experienced rapid growth in Q1, and it is expected that the website will reach page view targets to qualify for expanded marketing efforts sometime in Q3.

Zootout

Our partnership with Zootout continued in Q1. Zootout.com is an up and coming website in India focused on events as a location-based directory in India. We will continue to aide Zootout with their technologies and functionality. Zootout will launch mobile apps for the iPhone, Android, and Windows throughout the second quarter of 2015, and has successfully begun its marketing push for paid subscribers at the end of Q1.

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ePerty

ePerty.com continues to struggle to find an audience and will undergo a major overhaul throughout the next two quarters

Television

We signed a contract to jointly manage television operations with Jeffrey Martin Global Media, LLC. This operation launched in early February 2015, in three major markets (San Francisco, Chicago and Seattle) in the United States, and is expected to produce revenues towards the end of Q2. The joint venture is doing business as "uknowme." In following quarters, we will expand our reach to other television markets in the United States.

Third Party Marketing

Through partnerships, we will be marketing third party products and services both on television and online. We will launch this in the second quarter of 2015.

Targeting Acquisitions

We are actively searching for acquisitions to jump-start our presence in the market, and are in advanced negotiations with companies that will provide ecommerce and traditional media solutions for the Indian and global markets.

Research and Development

The core of our business model is to develop and modify websites and television for the global Indian population. Websites and mobile applications need continuous attention and refinement. We plan to diversify our service offerings and develop mobile applications for each of our website properties.

Television also requires development. Our company will continue to raise capital to fund television property development, and expand into original content production, as well as advertisement production.  

Intellectual Property

We have no patents or other protection for its intellectual property, and will rely on copyrights, trademarks, and corporate secrecy for protection for the foreseeable future.

Competition

The ecommerce market is highly competitive. It includes increasing competition from established companies who are expanding their production and marketing of performance products, as well as from frequent new entrants to the market. We will initially rely on the unique features and applications of our product to gain entrance to the marketplace.

Employees

We want to maintain a small staff on our payroll so that we can be nimble. To accomplish this goal, we will employ contract employees for our initial projects and hire the best performing of these employees going forward. This allows us to avoid mistakes in filling up our human resource roster with underperforming employees.

We have identified top-level advertising salespeople in both the United States and in India that we can add to our team upon receiving funding. We view this as very important to our overall strategy. 

Recruiting top level personnel will be aided by share based compensation tied to overall performance. 

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Executive cash compensation will be minimal due to their equity stakes with our Company. Key executive operations, such as Finance and Human Resources will be outsourced until a full time presence is necessary. 

Change of Director and Officer

On January 31, 2015, Rohit Gangwal, resigned from his position as a Director and Officer for the Company. This was a planned departure, and at least one new Director will be announced in Q3.

Subsidiaries

We do not currently have any subsidiaries.

Results of Operations

We are in the business of developing, promoting distribution, and managing television networks, television productions and ecommerce websites/mobile applications, targeting a wide-ranging marketplace in the United States and in India in both the consumer and business marketplace.  The following discussion of the financial condition and results of operations should be read in conjunction with the unaudited financial statements included herewith. This discussion should not be construed to imply that the results discussed herein will necessarily continue into the future, or that any conclusion reached herein will necessarily be indicative of actual operating results in the future.

Three and six months ended June 30, 2015 and 2014

We are in our infancy stage and have generated minimal revenue from our core business model.  However, we have earned revenue from providing internet and web consulting services during the three and six months ended June 30, 2015. We earned $5,000 of revenue compared to $8,375 during the three months ended June 30, 2015 and the same period in 2014, and $7,500 compared to $12,375 for the six months ended June 30, 2015 and 2914. Our total expenses during those periods were general and administrative expense of $17,992 as compared to $18,330 for the three months ended June 30, 2015 and 2014, respectively; including depreciation expense of $431 in each of the periods; $519 interest expense for the three months ended June 30, 2015 as compared to $1,164 for the same period in 2014.  Our general and administrative expenses were $58,694 compared to $43,102 including depreciation expense of $862 in each six month period plus interest charges of $1,004 compared to $11,512 during the six months ended June 30 2015 and 2014, respectively. We also incurred non-cash expenses of $116,702 with regard to the repayment of a convertible loan. General and administrative overhead increased due to the cost of developing and implementing our business plan.  Interest cost decreased due to the repayment of loans and the conversion of debt to equity.

Liquidity and Capital Resources

During the six months ended June 30, 2015, we generated cash in the amount of $7,450 from operating activities compared to utilizing cash of $24,084 for the six months ended June 30, 2014. Cash used in operating activity during the six months ended June 30, 2015 included a net loss of $168,899 compared to a net loss of $82,792 for the six months ended June 30. 2014. The net loss for the six months ended June 30, 2015 included non-cash depreciation expense of $862; a charge of $116,687 as the loss on extinguishment of debt related to a $50,000 note payable. The net loss for the six months ended June 30, 2014 was $82,792 which included non-cash depreciation of $862; amortization of prepaid expenses of $13,963; a charge of $4,500 for the cost of common stock issued for services; accrued interest of $11,512; a charge of $15 for the change in a derivative liability.  Accounts payable increased by $26,187 for the six months ended June 30, 2015 compared to an increase of $1,561 for the six months ended June 30, 2014.

Investing Activities

We did not use any cash resources for investing activities during the six months ended June 30, 2015 or for the six months ended June 30, 2014.

- 16 -

Financing Activities

There was no financing activity during the six months ended June 30, 2015 compared to the six months ended June 30, 2014, when we received proceeds from notes payable in the amount of $32,500 and repaid notes payable in the amount of $25,000 for net cash provided by financing activities of $7,500.  The $32,500 loan plus a prepayment penalty of $16,250 was repaid during the same period.  

Going Concern

During the six months, ended June 30, 2015, we incurred a net loss of $168,899, which included a non-cash discount and an extinguishment of debt cost to account for restricted common shares issued at $0.0036, to repay a $50,000 note payable.  We have an accumulated deficit of $736,665 since inception.  We are in the early stage of operations, and have, only, recently commenced generating revenue which amounted to $7,500 for the six months ended June 30, 2015 compared to $12,375 for the six months ended June 30, 2014. We will continue to generate losses in the near future.  These conditions raise substantial doubt about our ability to continue as a going concern.

These financial statements do not include adjustments relating to the recoverability and classification of reported asset amounts or the amount and classification of liabilities that might be necessary should we be unable to continue as a going concern. Our continuation as a going concern is dependent upon its ability to obtain additional financing or sale of its common stock and ultimately to attain profitability.

Management's plan, in this regard, is to raise additional financing through a combination of equity and debt financing. Management believes this will be sufficient to finance the continuing development for the next twelve months. However, there is no assurance that we will be successful in raising such financing.

During the period ended June 30, 2014, the Company issued a Convertible Promissory Note, to a lender, in the amount of $32,500. The note had an interest rate of 8% per annum, was unsecured and matured December 5, 2014. The note was convertible into common stock in whole or in part at a variable conversion price equal to a 45% discount to average of the lowest three trading prices for the Common Stock during the 10 trading  day period ending on the latest complete trading  day prior to the conversion date. The Company recorded a discount in the amount of $32,500 in connection with the initial valuation of the beneficial conversion feature of the notes to be amortized utilizing the interest method of accretion over the term of the notes.  The note was repaid, on September 8, 2014, with cash, including a prepayment penalty of $16,250.

Other than our lines of credit, we currently do not have any other arrangements for financing and we may not be able to obtain the financing required. Obtaining additional financing would be subject to a number of factors, including our ability to attract investments prior to consistent revenue generation, and thereafter our ability to grow our brand and for success in our market.  We may also require additional financing to sustain our business operations if we are not successful in earning significant revenues once our business plan is enacted.

On May 7, 2015 the Company entered into a six month exclusive, confidential consulting agreement with a client to provide the client with services designed to launch and manage certain television operations, including the purchase and configuration of the equipment necessary to do so.  Because the final total cost of such purchases isn't certain and until such time as the contract purchases have been completed, the Company has determined that the fee minus any expenditures would be disclosed as a customer deposit.

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Summary of Significant Accounting Policies

Our financial statements and related public financial information are based on the application of accounting principles generally accepted in the United States ("GAAP"). GAAP requires the use of estimates; assumptions, judgments and subjective interpretations of accounting principles that have an impact on the assets, liabilities, revenues and expense amounts reported. These estimates can also affect supplemental information contained in our external disclosures including information regarding contingencies, risk and financial condition. We believe our use of estimates and underlying accounting assumptions adhere to GAAP and are consistently and conservatively applied. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances. Actual results may differ materially from these estimates under different assumptions or conditions. We continue to monitor significant estimates made during the preparation of our financial statements.  

Our significant accounting policies are summarized in Note 2 of our unaudited interim financial statements. While all these significant accounting policies impact our financial condition and results of operations, we view certain of these policies as critical. Policies determined to be critical are those policies that have the most significant impact on our financial statements and require management to use a greater degree of judgment and estimates. Actual results may differ from those estimates. Our management believes that given current facts and circumstances, it is unlikely that applying any other reasonable judgments or estimate methodologies would cause effect on our results of operations, financial position or liquidity for the periods presented in this report.

We believe the following critical accounting policies and procedures, among others, affect our more significant judgments and estimates used in the preparation of our unaudited interim financial statements:

Cash

We consider all highly liquid instruments purchased with a maturity of three months or less at date of acquisition to be cash equivalents.

Revenue Recognition

The Company has generated its initial revenue, from consulting fees, during the six months ended June 30, 2014.

Website Development

We capitalize the costs associated with the development of our website.  Other costs related to the maintenance of the website are expensed as incurred.  Amortization will be provided over the estimated useful life of 3 years using the straight-line method for financial statement purposes.

Recently Issued Accounting Pronouncements

On June 10, 2014, the Financial Accounting Standards Board ("FASB") issued update ASU 2014-10, Development Stage Entities (Topic 915).   Amongst other things, the amendments in this update removed the definition of development stage entity from Topic 915, thereby removing the distinction between development stage entities and other reporting entities from US GAAP.  In addition, the amendments eliminate the requirements for development stage entities to (1) present inception-to-date information on the statements of income, cash flows and shareholders' equity, (2) label the financial statements as those of a development stage entity;  (3) disclose a description of the development stage activities in which the entity is engaged and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage.  The amendments are effective for annual reporting periods beginning after December 31, 2014 and interim reporting periods beginning after December 15, 2015, however entities are permitted to early adopt for any annual or interim reporting period for which the financial statements have yet to be issued.  The Company has elected to early adopt these amendments and accordingly have not labeled the financial statements as those of a development stage entity and have not presented inception-to-date information on the respective financial statements.

- 18 -

There are no other recent accounting pronouncements that are expected to have a material effect on the Company's interim unaudited financial statements.

Off-Balance Sheet Arrangements

We do not have any off-balance sheet arrangements, financings, or other relationships with unconsolidated entities or other persons, also known as "special purpose entities" (SPEs).

Item 3     Quantitative and Qualitative Disclosures about Market Risk

Not required for a smaller reporting company.

Item 4     Controls and Procedures

Disclosure Controls and Procedures

As required by paragraph (b) of Rules 13a-15 or 15d-15 under the Securities Exchange Act of 1934, our management, with the participation of our principal executive officer and principal financial officer evaluated our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Exchange Act) as of the end of the period covered by this Quarterly Report on Form 10-Q. Based on this evaluation, management concluded that as of the end of the period covered by this Quarterly Report on Form 10-Q, these disclosure controls and procedures were not effective. The ineffectiveness of our disclosure controls and procedures was due to material weaknesses identified in our internal control over financial reporting, as described in our annual report on Form 10-K for the year ended December 31, 2013.

Changes in Internal Control over Financial Reporting

There were no changes in our internal control over financial reporting during the three months ended March 31, 2015 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II

Item 1     Legal Proceedings

None.

Item 1A     Risk Factors

Not required for a smaller reporting company.

Item 2     Unregistered Sales of Equity Securities and Use of Proceeds

There were no sales of unregistered securities during the period covered by this report.

Item 3     Defaults upon Senior Securities

None. 

Item 4     Mine Safety Disclosures

N/A.

Item 5     Other Information

None.

Item 6     Exhibits

Number	Exhibit
31.1	Certification of Principal Executive and Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1	Certification of Principal Executive and Financial Officer 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.LAB*	XBRL Taxonomy Extension Label Linkbase Document
101.PRE*	XBRL Taxonomy Extension Presentation Linkbase Document
101.DEF*	XBRL Taxonomy Extension Definition Linkbase Document

*  Pursuant to applicable securities laws and regulations, we are deemed to have complied with the reporting obligation relating to the submission of interactive data files in such exhibits and are not subject to liability under any anti-fraud provisions of the federal securities laws as long as we have made a good faith attempt to comply with the submission requirements and promptly amend the interactive data files after becoming aware that the interactive data files fail to comply with the submission requirements. Users of this data are advised that, pursuant to Rule 406T, these interactive data files are deemed not filed and otherwise are not subject to liability.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	India Ecommerce Corporation
Date:  August 13,  2015	/s/ Ashish Badjatia
	Ashish Badjatia President, Chief Executive Officer (Principal Executive Officer) and Interim Chief Financial Officer (Interim Principal Accounting and Financial Officer)

- 21 -

EX-31

Exhibit 31.1

CERTIFICATION

I, Ashish Badjatia, certify that:

1. I have reviewed this quarterly report on Form 10-Q of India Ecommerce Corporation;

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 presented in this report;

4. As the registrant’s sole certifying 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)) for the registrant and have:

(a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to me 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 my 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 my 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 financial 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. As the registrant’s sole certifying officer, I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of 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 involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:  August 13,  2015	/s/ Ashish Badjatia
	Ashish Badjatia President, Chief Executive Officer (Principal Executive Officer) and Interim Chief Financial Officer (Interim Principal Financial Officer)

EX-32

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 the Quarterly Report of India Ecommerce Corporation (the “Company”) on Form 10-Q for the quarter ended June 30, 2015, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Ashish Badjatia, President, Chief Executive Officer (Principal Executive Officer) and Interim Chief Financial Officer (Interim Principal Financial Officer) of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1. The Report 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 the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date:  August 13,  2015	/s/ Ashish Badjatia
	Ashish Badjatia President, Chief Executive Officer (Principal Executive Officer) and Interim Chief Financial Officer (Interim Principal Financial Officer)

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PROPERTY AND EQUIPMENT

6 Months Ended

Jun. 30, 2015

Property, Plant and Equipment, Net [Abstract]

PROPERTY AND EQUIPMENT

4.           PROPERTY AND EQUIPMENT

Property and equipment consist of the following as of March 31, 2014 and December 31, 2013:

	June 30, 2014			December 31, 2013
Computer and office equipment	$	8,614		$	8,614
Accumulated depreciation		(5,671	)		(4,809	)
Property and equipment, net	$	2,943		$	3,805

Depreciation expense for the six months ended June 30, 2014 and the year ended December 31, 2013 was $862 and $1,723  respectively.

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GOING CONCERN

6 Months Ended

Jun. 30, 2015

GOING CONCERN [Abstract]

GOING CONCERN

3.           GOING CONCERN

The Company incurred a net loss of $82,791 for the six months ended June 30, 2014 and has an accumulated loss of $317,416 since inception.  The Company has not generated any revenues since inception and anticipates that it will continue to generate losses in the near future.  These conditions raise substantial doubt about the Company’s ability to continue as a going concern.

These financial statements do not include adjustments relating to the recoverability and classification of reported asset amounts or the amount and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. The Company’s continuation as a going concern is dependent upon its ability to obtain additional financing or sale of its common stock and ultimately to attain profitability.

Management’s plan, in this regard, is to raise additional financing through a combination of equity and debt financing. Management believes this will be sufficient to finance the continuing development for the next twelve months. However, there is no assurance that the Company will be successful in raising such financing.

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BALANCE SHEETS - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Current assets
Cash	$ 3,092	$ 19,675
Total current assets	3,092	19,675
Deposits	1,370	1,090
Property and equipment, net	2,943	3,805
Total noncurrent assets	4,313	4,895
Total assets	7,405	24,570
Current liabilities
Accounts payable and accrued liabilities	13,749	$ 12,187
Convertible note payable derivative liability	26,591
Notes payable, net of unamortized debt discount	92,556	$ 71,771
Total current liabilities	$ 132,896	83,958
Note payable - long term portion		20,311
Total liabilities	$ 132,896	104,269
Stockholders' deficit
Common stock $0.001 par value; 75,000,000 shares authorized, 25,477,500 shares issued and outstanding as of June 30, 2014 and December 31, 2013	25,478	$ 25,478
Shares to be issued	225
Additional paid-in capital	166,223	$ 129,448
Accumulated deficit during the development stage	(317,416)	(234,625)
Total stockholders' deficit	(125,490)	(79,699)
Total liabilities and stockholders' deficit	$ 7,405	$ 24,570

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DESCRIPTION OF BUSINESS

6 Months Ended

Jun. 30, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

DESCRIPTION OF BUSINESS

1.           DESCRIPTION OF BUSINESS

India Ecommerce Corporation (the “Company”) was incorporated under the laws of the state of Nevada on January 19, 2011.

The Company plans to build, promote and manage a multitude of ecommerce properties, in both website and mobile application formats, for the India market.

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Jun. 30, 2015

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

2.           SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation - The accompanying financial statements are prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America.

Development Stage Company - On June 10, 2014, the Financial Accounting Standards Board ("FASB") issued update ASU 2014-10, Development Stage Entities (Topic 915).   Amongst other things, the amendments in this update removed the definition of development stage entity from Topic 915, thereby removing the distinction between development stage entities and other reporting entities from US GAAP.  In addition, the amendments eliminate the requirements for development stage entities to (1) present inception-to-date information on the statements of income, cash flows and shareholders’ equity, (2) label the financial statements as those of a development stage entity;  (3) disclose a description of the development stage activities in which the entity is engaged and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage.  The amendments are effective for annual reporting periods beginning after December 31, 2014 and interim reporting periods beginning after December 15, 2015, however entities are permitted to early adopt for any annual or interim reporting period for which the financial statements have yet to be issued.  The Company has elected to early adopt these amendments and accordingly have not labeled the financial statements as those of a development stage entity and have not presented inception-to-date information on the respective financial statements.

Year-End - The Company has selected December 31 as its year end.

Use of Estimates - The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expenses during the reporting period.  Actual results could differ from those estimates.

Transfers of Nonmonetary Assets by Stockholders - The Company records transfers of nonmonetary assets to the Company by stockholders in exchange for common stock at the stockholders’ historical cost basis determined in conformity with generally accepted accounting principles in the United States of America.

Cash - Cash and cash equivalents consist primarily of cash on deposit, certificates of deposit, money market accounts, and investment grade commercial paper that are readily convertible into cash and purchased with original maturities of three months or less.

The Company maintains cash balances at an institution that is insured by the Federal Deposit Insurance Corporation.  As of June 30, 2014 and December 31, 2013 no amounts were in excess of the federally insured program.

Deposits - Deposits include a security deposit for office space located in Indore, Madhya Pradesh, India.

Property and Equipment - Property and equipment are stated at cost less accumulated depreciation.  Expenditures for property acquisitions, development, construction, improvements and major renewals are capitalized.  The cost of repairs and maintenance is expensed as incurred.  Depreciation is provided on the straight-line method over the estimated useful lives of the assets.   Upon sale or other disposition of a depreciable asset, the cost and accumulated depreciation are removed from property and equipment and any gain or loss is reflected as a gain or loss from operations.

The estimated useful lives are:

Furniture and fixtures	7 years
Computers and office equipment	3-5 years

Website Development - The Company capitalizes the costs associated with the development of its website.  Other costs related to the maintenance of the website are expensed as incurred.  Amortization will be provided over the estimated useful life of 3 years using the straight-line method for financial statement purposes.

Impairment of Long-lived Assets - The Company periodically evaluates whether events and circumstances have occurred that may warrant revision of the estimated useful lives of property and equipment or whether the remaining balance of property and equipment should be evaluated for possible impairment.

Revenue Recognition

Although the Company will derive revenue from several sources, the current revenue is provided from consulting services.  The Company will recognize revenue once pervasive evidence that an agreement exists; the product or service has been rendered; the fee is fixed and determinable based on the completion of stated terms and conditions; and collection of the amount due is reasonably assured.  The Company did not recognize any revenues from January 19, 2011 (inception) through December 31, 2013, but has commenced its consulting service and has generated $12,375 of revenue through June 30, 2014.

The Company must meet all of the following four criteria in order to recognize revenue:

· Persuasive evidence of an arrangement exists

· Delivery has occurred

· The sales price is fixed or determinable

· Collection is reasonably assured

Fair Value of Financial Instruments - The Company adopted the FASB standard related to fair value measurement at inception. The standard defines fair value, establishes a framework for measuring fair value and expands disclosure of fair value measurements. The standard applies under other accounting pronouncements that require or permit fair value measurements and, accordingly, does not require any new fair value measurements. The standard clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. The recorded values of long-term debt approximate their fair values, as interest approximates market rates. As a basis for considering such assumptions, the standard established a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows:

· Level 1:  Observable inputs such as quoted prices in active markets;

· Level 2:  Inputs, other than quoted prices in active markets, that are observable either directly or indirectly; and

· Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

The Company’s financial instruments are accounts payable, convertible note, notes payable and derivative liability. The recorded values of accounts payable and notes payable approximate their fair values based on their short-term nature.

Share-based Compensation - The Company recognizes share-based compensation, including stock option grants, warrants and restricted stock grants at their fair value on the grant date. Share based payment awards issued to non-employees for services rendered are recorded at either the fair value of the services rendered or the fair value of the share-based payment, whichever is more readily determinable.  Compensation expense is generally recognized on a straight-line basis over the vesting period.  

Dividends - The payment of dividends by the Company in the future will be at the discretion of the Board of Directors and will depend on earnings, capital requirements and financial condition, as well as other relevant factors.   The Company does not intend to pay any cash dividends in the foreseeable future but intend to retain all earnings, if any, for use in the business.

Earnings (Loss) per Share - Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during each period.  Diluted earnings (loss) per share is computed by dividing net income (loss), adjusted for changes in income or loss that resulted from the assumed conversion of convertible shares, by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during the period.

The computation of basic and diluted loss per share for the periods presented is equivalent since the Company had continuing losses. The Company had no common stock equivalents as of June 30, 2014.

Risks and Uncertainties - The Company’s operations and future are dependent in a large part on its ability to develop its business model in a competitive market.  The Company intends to operate in an industry that is subject to intense competition and change in consumer demand. The Company's operations are subject to significant risk and uncertainties including financial and operational risks and the potential risk of business failure. The Company’s inability to meet its business plan and target customer demand may have a material adverse effect on its financial condition, results of operations and cash flows.

Income Taxes - Income taxes are accounted for under the asset and liability method. Deferred income tax assets and liabilities are established for temporary differences between the financial reporting basis and the tax basis of the Company’s assets and liabilities at tax rates expected to be in effect when such assets or liabilities are realized or settled. Deferred income tax assets are reduced by valuation allowances when necessary.

Assessing whether deferred tax assets are realizable requires significant judgment. The Company considers all available positive and negative evidence, including historical operating performance and expectations of future operating performance. The ultimate realization of deferred tax assets is often dependent upon future taxable income and therefore can be uncertain. To the extent the Company believes it is more likely than not that all or some portion of the asset will not be realized, valuation allowances are established against the Company’s deferred tax assets, which increase income tax expense in the period when such a determination is made.

Income taxes include the largest amount of tax benefit for an uncertain tax position that is more likely than not to be sustained upon audit based on the technical merits of the tax position. Settlements with tax authorities, the expiration of statutes of limitations for particular tax positions, or obtaining new information on particular tax positions may cause a change to the effective tax rate. The Company recognizes accrued interest and penalties related to unrecognized tax benefits in the provision for income taxes on the statements of operations.

Recent Accounting Pronouncements - There are no recent accounting pronouncements that are expected to have a material effect on the Company’s financial statements.

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BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Common stock, par value per share	$ 0.001	$ 0.001
Common Stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	25,477,500	25,477,500
Common Stock, shares outstanding	25,477,500	25,477,500

XML

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Computers and Office Equipment [Member] | Maximum [Member]
Estimated useful life		5 years
Computers and Office Equipment [Member] | Minimum [Member]
Estimated useful life		3 years
Furniture and Fixtures [Member]
Estimated useful life	7 years
Website development costs, estimated useful life		3 years

XML

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 08, 2014
Document And Entity Information Abstract
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Entity Registrant Name	INDIA ECOMMERCE CORP
Entity Central Index Key	0001510891
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2015
Entity Filer Category	Smaller Reporting Company
Entity Units Outstanding		25,477,500
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes

XML

GOING CONCERN (Details) - USD ($)	3 Months Ended		6 Months Ended		41 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2014
GOING CONCERN [Abstract]
Net loss	$ (21,796)	$ (8,399)	$ (82,791)	$ (17,425)	$ 317,416

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STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement [Abstract]
Consulting fees	$ 8,375		$ 12,375
Total revenue	8,375		12,375
Operating expenses
General and administrative	$ 17,899	$ 7,610	37,740	$ 15,899
Stock based compensation			4,500
Depreciation	$ 431	$ 431	862	$ 861
Total operating expenses	18,330	8,041	43,102	16,760
Loss from operations	9,955	$ 8,041	30,727	$ 16,760
Other expenses
Debt discount	$ 10,677		13,962
Change in derivative liability			26,591
Interest expense	$ 1,164	$ 358	11,512	$ 665
Total other expenses	11,841	358	52,065	665
Loss for the year	$ 21,796	$ 8,399	$ 82,791	$ 17,425
Net loss per common share - basic and diluted	$ 0	$ 0	$ 0	$ 0
Weighted average common shares outstanding - basic and diluted	25,477,500	25,477,500	25,477,500	25,477,500

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SUBSEQUENT EVENTS

6 Months Ended

Jun. 30, 2014

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

7.           SUBSEQUENT EVENTS

The Company has evaluated subsequent events through the date the financial statements were issued and has not identified any reportable events.

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STOCKHOLDERS' EQUITY

6 Months Ended

Jun. 30, 2014

Stockholders' Equity Note [Abstract]

STOCKHOLDERS' EQUITY

6.           STOCKHOLDERS’ EQUITY

From January to September of 2012, the Company issued 527,500 shares of its common stock to various accredited investors pursuant to a private placement at a range of $0.02 to $0.10 per share. The gross proceeds from the issuance were $20,750.

In August 2012, the Company issued 100,000 shares of its common stock to a consultant for services rendered at $0.10 per share.  The value of those shares totaled $10,000.

No common shares were issued during the first half of 2014 or during the year ended December 31, 2013.

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PROPERTY AND EQUIPMENT (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2013	Dec. 31, 2014
Property, Plant and Equipment, Net [Abstract]
Computer and office equipment	$ 8,614		$ 8,614			$ 8,614
Accumulated depreciation	(5,671)		(5,671)			(4,809)
Property and equipment, net	2,943		2,943			$ 3,805
Depreciation	$ 431	$ 431	$ 862	$ 861	$ 1,723

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PROPERTY AND EQUIPMENT (Tables)

6 Months Ended

Jun. 30, 2015

Property, Plant and Equipment, Net [Abstract]

Schedule of Property and Equipment

	June 30, 2014			December 31, 2013
Computer and office equipment	$	8,614		$	8,614
Accumulated depreciation		(5,671	)		(4,809	)
Property and equipment, net	$	2,943		$	3,805

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

6 Months Ended

Jun. 30, 2015

Accounting Policies [Abstract]

Basis of Presentation

Basis of Presentation - The accompanying financial statements are prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America.

Development Stage Company

Development Stage Company - On June 10, 2014, the Financial Accounting Standards Board ("FASB") issued update ASU 2014-10, Development Stage Entities (Topic 915).   Amongst other things, the amendments in this update removed the definition of development stage entity from Topic 915, thereby removing the distinction between development stage entities and other reporting entities from US GAAP.  In addition, the amendments eliminate the requirements for development stage entities to (1) present inception-to-date information on the statements of income, cash flows and shareholders’ equity, (2) label the financial statements as those of a development stage entity;  (3) disclose a description of the development stage activities in which the entity is engaged and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage.  The amendments are effective for annual reporting periods beginning after December 31, 2014 and interim reporting periods beginning after December 15, 2015, however entities are permitted to early adopt for any annual or interim reporting period for which the financial statements have yet to be issued.  The Company has elected to early adopt these amendments and accordingly have not labeled the financial statements as those of a development stage entity and have not presented inception-to-date information on the respective financial statements.

Year-End

Year-End - The Company has selected December 31 as its year end.

Use of Estimates

Use of Estimates - The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expenses during the reporting period.  Actual results could differ from those estimates.

Transfers of Nonmonetary Assets by Stockholders

Transfers of Nonmonetary Assets by Stockholders - The Company records transfers of nonmonetary assets to the Company by stockholders in exchange for common stock at the stockholders’ historical cost basis determined in conformity with generally accepted accounting principles in the United States of America.

Cash

Cash - Cash and cash equivalents consist primarily of cash on deposit, certificates of deposit, money market accounts, and investment grade commercial paper that are readily convertible into cash and purchased with original maturities of three months or less.

The Company maintains cash balances at an institution that is insured by the Federal Deposit Insurance Corporation.  As of June 30, 2014 and December 31, 2013 no amounts were in excess of the federally insured program.

Deposits

Deposits - Deposits include a security deposit for office space located in Indore, Madhya Pradesh, India.

Property and Equipment

Property and Equipment - Property and equipment are stated at cost less accumulated depreciation.  Expenditures for property acquisitions, development, construction, improvements and major renewals are capitalized.  The cost of repairs and maintenance is expensed as incurred.  Depreciation is provided on the straight-line method over the estimated useful lives of the assets.   Upon sale or other disposition of a depreciable asset, the cost and accumulated depreciation are removed from property and equipment and any gain or loss is reflected as a gain or loss from operations.

The estimated useful lives are:

Furniture and fixtures	7 years
Computers and office equipment	3-5 years

Website Development

Website Development - The Company capitalizes the costs associated with the development of its website.  Other costs related to the maintenance of the website are expensed as incurred.  Amortization will be provided over the estimated useful life of 3 years using the straight-line method for financial statement purposes.

Impairment of Long-Lived Assets

Impairment of Long-lived Assets - The Company periodically evaluates whether events and circumstances have occurred that may warrant revision of the estimated useful lives of property and equipment or whether the remaining balance of property and equipment should be evaluated for possible impairment.

Revenue Recognition

Revenue Recognition

Although the Company will derive revenue from several sources, the current revenue is provided from consulting services.  The Company will recognize revenue once pervasive evidence that an agreement exists; the product or service has been rendered; the fee is fixed and determinable based on the completion of stated terms and conditions; and collection of the amount due is reasonably assured.  The Company did not recognize any revenues from January 19, 2011 (inception) through December 31, 2013, but has commenced its consulting service and has generated $12,375 of revenue through June 30, 2014.

The Company must meet all of the following four criteria in order to recognize revenue:

· Persuasive evidence of an arrangement exists

· Delivery has occurred

· The sales price is fixed or determinable

· Collection is reasonably assured

Fair Value of Financial Instruments

Fair Value of Financial Instruments - The Company adopted the FASB standard related to fair value measurement at inception. The standard defines fair value, establishes a framework for measuring fair value and expands disclosure of fair value measurements. The standard applies under other accounting pronouncements that require or permit fair value measurements and, accordingly, does not require any new fair value measurements. The standard clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. The recorded values of long-term debt approximate their fair values, as interest approximates market rates. As a basis for considering such assumptions, the standard established a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows:

· Level 1:  Observable inputs such as quoted prices in active markets;

· Level 2:  Inputs, other than quoted prices in active markets, that are observable either directly or indirectly; and

· Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

The Company’s financial instruments are accounts payable and notes payable. The recorded values of accounts payable and notes payable approximate their fair values based on their short-term nature.

Share-based Compensation

Share-based Compensation - The Company recognizes share-based compensation, including stock option grants, warrants and restricted stock grants at their fair value on the grant date. Share based payment awards issued to non-employees for services rendered are recorded at either the fair value of the services rendered or the fair value of the share-based payment, whichever is more readily determinable.  Compensation expense is generally recognized on a straight-line basis over the vesting period.  

Dividends

Dividends - The payment of dividends by the Company in the future will be at the discretion of the Board of Directors and will depend on earnings, capital requirements and financial condition, as well as other relevant factors.   The Company does not intend to pay any cash dividends in the foreseeable future but intend to retain all earnings, if any, for use in the business.

Earnings (Loss) per Share

Earnings (Loss) per Share - Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during each period.  Diluted earnings (loss) per share is computed by dividing net income (loss), adjusted for changes in income or loss that resulted from the assumed conversion of convertible shares, by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during the period.

The computation of basic and diluted loss per share for the periods presented is equivalent since the Company had continuing losses. The Company had no common stock equivalents as of June 30, 2014.

Risks and Uncertainties

Risks and Uncertainties - The Company’s operations and future are dependent in a large part on its ability to develop its business model in a competitive market.  The Company intends to operate in an industry that is subject to intense competition and change in consumer demand. The Company's operations are subject to significant risk and uncertainties including financial and operational risks and the potential risk of business failure. The Company’s inability to meet its business plan and target customer demand may have a material adverse effect on its financial condition, results of operations and cash flows.

Income Taxes

Income Taxes - Income taxes are accounted for under the asset and liability method. Deferred income tax assets and liabilities are established for temporary differences between the financial reporting basis and the tax basis of the Company’s assets and liabilities at tax rates expected to be in effect when such assets or liabilities are realized or settled. Deferred income tax assets are reduced by valuation allowances when necessary.

Assessing whether deferred tax assets are realizable requires significant judgment. The Company considers all available positive and negative evidence, including historical operating performance and expectations of future operating performance. The ultimate realization of deferred tax assets is often dependent upon future taxable income and therefore can be uncertain. To the extent the Company believes it is more likely than not that all or some portion of the asset will not be realized, valuation allowances are established against the Company’s deferred tax assets, which increase income tax expense in the period when such a determination is made.

Income taxes include the largest amount of tax benefit for an uncertain tax position that is more likely than not to be sustained upon audit based on the technical merits of the tax position. Settlements with tax authorities, the expiration of statutes of limitations for particular tax positions, or obtaining new information on particular tax positions may cause a change to the effective tax rate. The Company recognizes accrued interest and penalties related to unrecognized tax benefits in the provision for income taxes on the statements of operations.

Recent Accounting Pronouncements

Recent Accounting Pronouncements - There are no recent accounting pronouncements that are expected to have a material effect on the Company’s financial statements.

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2015

Accounting Policies [Abstract]

Schedule of Useful Lives

The estimated useful lives are:

Furniture and fixtures	7 years
Computers and office equipment	3-5 years

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NOTES PAYABLE (Tables)

6 Months Ended

Jun. 30, 2015

Debt Disclosure [Abstract]

Schedule of Notes Payable

As of June 30, 2014 and December 31, 2013 the Company had the following notes payable:

	June 30, 2014			December 31, 2013
Note payable - 24% interest, unsecured and due January 2013 (1)	$	7,281		$	6,604
Note payable - repayable on February 28, 2014 with interest of $25,000, secured (3)		50,000			65,167
		57,281			71,771
Convertible note payable - 8% interest due December 5, 2014		33,301			-
Unamortized debt discount on convertible note payable		(18,538	)		-
Total Notes Payable	$	72,044		$	71,771
Line of credit payable - 2% interest, secured by the Company’s President and due January 1, 2015. (2)	$	20,511		$	20,311
Total	$	92,555		$	92,082

 (1)  In the event of nonpayment, by January 11, 2013, lender is entitled to receive 225,000 common shares of capital stock.  Although the Company is in default, no demand has been made by the lender. The Company has recorded a subscription payable related to the 225,000 common shares as of June 30, 2014.

(2)   The Company may draw and repay the line of credit up to a maximum outstanding of $25,000.

(3)  Payment is guaranteed by the promise to issue 500,000 common shares of the Company’s common stock.  Although the Company is in default, no demand has been made by the lender.

(4)   During the period ended March 31, 2014, the Company issued a Convertible Promissory Notes to Asher Enterprises, Inc. (“Asher”) in the amount of $32,500.

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STOCKHOLDERS' EQUITY (Details) - USD ($)	1 Months Ended	9 Months Ended
	Aug. 31, 2012	Sep. 30, 2012
Stockholders' Equity Note [Abstract]
Stock issued for services, shares	100,000
Stock issued for services, price per share	$ .10
Stock issued for services, value	$ 10,000
Issuance of common stock for cash pursuant to a private placement, shares		527,500
Equity issuance, stock issued for cash pursuant to a private placement, price per share		$ .02
Issuance of common stock for cash pursuant to a private placement		$ 20,750

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STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net loss	$ (21,796)	$ (8,399)	$ (82,791)	$ (17,425)
Adjustments to reconcile net loss to net cash used by operating activities:
Depreciation	431	$ 431	862	$ 861
Amortization of debt discount	$ 10,677		13,962
Issuance of common stock for non-employee services			4,500
Accrued interest on notes payable	$ 1,164	$ 358	11,512	$ 665
Change in derivative liability			26,591
Changes in operating assets and liabilities:
Deposits	$ (280)		(280)
Accounts payable and accrued liabilities	(1)	$ 1,610	1,561	$ (1,914)
Net cash used by operating activities	$ (9,804)	$ (5,999)	$ (24,083)	$ (17,813)
Cash flows from investing activities:
Property and equipment acquisitions
Net cash used by investing activities
Cash flows from financing activities:
Proceeds from notes payable		$ 5,000	$ 32,500	$ 20,000
Repayment on notes payable			(25,000)	(4,500)
Net cash provided by financing activities		$ 5,000	7,500	15,500
Net change in cash	$ (9,804)	(999)	(16,583)	$ (2,313)
Cash, beginning of period		$ 12,896	19,675
Cash, end of period	$ 3,092		$ 3,092
Supplemental disclosure of cash flow information:
Interest paid
Income taxes paid
Supplemental disclosure of noncash investing and financing activities:
Issuance of common stock to acquire property and equipment
Accrued interest waived by stockholders				$ 40

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NOTES PAYABLE

6 Months Ended

Jun. 30, 2014

Debt Disclosure [Abstract]

NOTES PAYABLE

5.           NOTES PAYABLE

As of June 30, 2014 and December 31, 2013 the Company had the following notes payable:

	June 30, 2014			December 31, 2013
Note payable - 24% interest, unsecured and due January 2013 (1)	$	7,281		$	6,604
Note payable - repayable on February 28, 2014 with interest of $25,000, secured (3)		50,000			65,167
		57,281			71,771
Convertible note payable - 8% interest due December 5, 2014		33,301			-
Unamortized debt discount on convertible note payable		(18,538	)		-
Total Notes Payable	$	72,044		$	71,771
Line of credit payable - 2% interest, secured by the Company’s President and due January 1, 2015. (2)	$	20,511		$	20,311
Total	$	92,555		$	92,082

 (1)  In the event of nonpayment, by January 11, 2013, lender is entitled to receive 225,000 common shares of capital stock.  Although the Company is in default, no demand has been made by the lender. The Company has recorded a subscription payable related to the 225,000 common shares as of June 30, 2014.

(2)   The Company may draw and repay the line of credit up to a maximum outstanding of $25,000.

(3)  Payment is guaranteed by the promise to issue 500,000 common shares of the Company’s common stock.  Although the Company is in default, no demand has been made by the lender.

(4)   During the period ended March 31, 2014, the Company issued a Convertible Promissory Notes to Asher Enterprises, Inc. (“Asher”) in the amount of $32,500.

 The note bears interest at a rate of 8% per annum, is unsecured and matures on December 5, 2014. The Note is convertible into common stock in whole or in part at a variable conversion price equal to a 45% discount to average of the lowest three trading prices for the Common Stock during the 10 trading  day period ending on the latest complete trading  day prior to the conversion date. The Company recorded a discount in the amount of $32,500 in connection with the initial valuation of the beneficial conversion feature of the notes to be amortized utilizing the interest method of accretion over the term of the notes.

 We have determined that the conversion feature of the note is not considered to be solely indexed to our own stock and is therefore not afforded equity treatment. In accordance with ASC 815, we have bifurcated the conversion feature of the notes and recorded a derivative liability. As of June 30, 2014 the value of the derivative liability was $26,591 and we recognized a loss on the derivative of $26,591 for the period ended March 31, 2014.

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NOTES PAYABLE (Details) - USD ($)		Jun. 30, 2015		Dec. 31, 2014
Debt Disclosure [Abstract]
Note payable - 24% interest, unsecured and due January 2013 (1)	[1]	$ 7,281		$ 6,604
Note payable - repayable on February 28, 2014 with interest of $25,000, secured (3)		50,000	[2]	65,167	[3]
Total of Notes one and two		57,281		$ 71,771
Convertible note payable - 8% interest due December 5, 2014		33,301
Unamortized debt discount on convertible note payable		(18,538)
Total Notes Payable		72,044		$ 71,771
Line of credit payable - 2% interest, secured by the Company's President and due January 1, 2015. (2)	[2]	20,511		20,311
Total		$ 92,555		$ 92,082

[1] In the event of nonpayment, by January 11, 2013, lender is entitled to receive 225,000 common shares of capital stock. Although the Company is in default, no demand has been made by the lender.

[2] Payment is guaranteed by the promise to issue 500,000 common shares of the Company's common stock. Although the Company is in default, no demand has been made by the lender.

[3] The Company may draw and repay the line of credit up to a maximum outstanding of $25,000.