0001165527-13-000328.txt : 20130405 0001165527-13-000328.hdr.sgml : 20130405 20130405144552 ACCESSION NUMBER: 0001165527-13-000328 CONFORMED SUBMISSION TYPE: 10-K/A PUBLIC DOCUMENT COUNT: 7 CONFORMED PERIOD OF REPORT: 20121231 FILED AS OF DATE: 20130405 DATE AS OF CHANGE: 20130405 FILER: COMPANY DATA: COMPANY CONFORMED NAME: RedStone Literary Agents, Inc. CENTRAL INDEX KEY: 0001515139 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 273098487 STATE OF INCORPORATION: NV FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 10-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 333-173164 FILM NUMBER: 13745540 BUSINESS ADDRESS: STREET 1: 1842 E CAMPO BELLO DR CITY: PHOENIX STATE: AZ ZIP: 85022 BUSINESS PHONE: 6028670160 MAIL ADDRESS: STREET 1: 1842 E CAMPO BELLO DR CITY: PHOENIX STATE: AZ ZIP: 85022 10-K/A 1 g6706a.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K/A ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURUTIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2012 Commission File Number 333-173164 REDSTONE LITERARY AGENTS INC. (Exact name of registrant as specified in its charter) NEVADA (State or other jurisdiction of incorporation or organization) 1842 E Campo Bello Drive Phoenix, AZ 85022 (Address of principal executive offices, including zip code) (602)867-0160 (Telephone number, including area code) Mary S. Wolf, President Redstone Literary Agents Inc. 1842 E Campo Bello Drive Phoenix, AZ 85022 Telephone (602)867-0160 Facsimile (602)865-7313 (Name, address and telephone number of agent for service) Securities registered pursuant to Section 12(b) of the Act: None Securities registered pursuant to section 12(g) of the Act: Common Stock, $.001 par value Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes [ ] No [X] Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act Yes [ ] No [X] 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 (ss.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 [X] No [ ] 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 [ ] Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. [ ] Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act. (Check one): Non-accelerated filer [ ] Accelerated filer [ ] Large accelerated filer [ ] Smaller reporting company [X] (Do not check if a smaller reporting company) Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X] As of March 20, 2013, the registrant had 6,000,000 shares of common stock issued and outstanding. No market value has been computed based upon the fact that no active trading market had been established as of April 5, 2013. EXPLANATORY NOTE The purpose of this Amendment No. 1 to the Company's Annual Report on Form 10-K for the year ended December 31, 2012, filed with the Securities and Exchange Commission on April 1, 2013 (the "Form 10-K"), is solely to furnish Exhibit 101 to the Form 10-K. Exhibit 101 provides the financial statements and related notes from the Form 10-K formatted in XBRL (Extensible Business Reporting Language). No other changes have been made to the Form 10-K. This Amendment No. 1 to the Form 10-K continues to speak as of the original filing date of the Form 10-K, 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-K. 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 Act of 1934, as amended, and otherwise are not subject to liability under those sections. ITEM 15. EXHIBITS The following exhibits are included with this quarterly filing. Those marked with an asterisk and required to be filed hereunder, are incorporated by reference and can be found in their entirety in our Registration Statement on Form S-1, filed under SEC File Number 333-173164, at the SEC website at www.sec.gov: Exhibit No. Description ----------- ----------- 3.1 Articles of Incorporation* 3.2 Bylaws* 31.1 Certification pursuant to Rule 13a-14(a) under the Exchange Act of 1934 ** 31.2 Certification pursuant to Rule 13a-14(a) under the Exchange Act of 1934 ** 32.1 Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 ** 32.2 Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 ** 101 Interactive data files pursuant to Rule 405 of Regulation S-T ---------- ** Previously filed 2 SIGNATURES In accordance with the requirements of the Securities Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, on April 5, 2013. Redstone Literary, Inc., Registrant By: /s/ Mary S. Wolf ------------------------------------ Mary S. Wolf, Director, President, Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer In accordance with the Exchange Act, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. Redstone Literary, Inc., Registrant April 5, 2013 By: /s/ Mary S. Wolf ------------------------------------ Mary S. Wolf, Director, President, Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer 3 EX-101.PRE 2 rdst-20121231_pre.xml EX-101.INS 3 rdst-20121231.xml 10-K 2012-12-31 true add xbrl RedStone Literary Agents, Inc. 0001515139 --12-31 0 Smaller Reporting Company Yes Yes No 6000000 2012 FY 41789 920 9161 5000 9161 5000 6000 3000 54000 12000 0 -5000 -27372 -14080 21670 920 0.001 0.001 75000000 75000000 6000000 3000000 6000000 3000000 11150 0 11150 376 292 729 11180 0 11180 9250 8200 17450 3636 4818 9163 24442 13310 38522 0 0 4500000 3000000 0 0 0 0 0 0 3000 12000 15000 15000 3000000 -5000 -5000 -770 -770 3000 12000 10000 -770 9230 3000000 -13310 -13310 3000 12000 10000 -14080 -4080 3000000 3000 42000 45000 45000 3000000 5000 5000 -13292 -13292 6000 54000 60000 -27372 32628 6000000 -13292 -13310 -27372 -13292 -13310 -27372 4161 0 9161 50000 5000 60000 54161 5000 69161 0 0 0 40869 -8310 41789 9230 0 920 41789 <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;'><font style='line-height:115%'>1 &#150; NATURE AND CONTINUANCE OF OPERATIONS</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;'><font style='line-height:115%'>Redstone Literary Agents, Inc. (&#147;the Company&#148;) was incorporated under the laws of State of Nevada, U.S. on July 20, 2010, with an authorized capital of 75,000,000 common shares with a par value of $0.001.&#160; The Company&#146;s year end is the end of December.&#160; The Company is in the development stage of its publishing service business.&#160; During the period ended December 31, 2010, the Company commenced operations by issuing shares.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;'><font style='line-height:115%'>&#160; These financial statements have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future.&#160; The Company has incurred losses since inception resulting in an accumulated deficit of $27,372 as at December 31, 2012 and further losses are anticipated in the development of its business raising substantial doubt about the Company&#146;s ability to continue as a going concern.&#160; The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with existing cash on hand and loans from directors and or private placement of common stock.&#160; </font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;'><font style='line-height:115%'>2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;'><font style='line-height:115%'>Basis of Presentation</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;'><font style='line-height:115%'>The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars.&#160; </font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Development Stage Company</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;'><font style='line-height:115%'>The Company complies with the ASC 915, its characterization of the Company as a development stage enterprise. </font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Use of Estimates and Assumptions</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;'><font style='line-height:115%'>The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period.&#160; Actual results could differ from those estimates.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;'><font style='line-height:115%'>The carrying value of cash and accounts payable and accrued liabilities approximates their fair value because of the short maturity of these instruments.&#160; Unless otherwise noted, it is management&#146;s opinion the Company is not exposed to significant interest, currency or credit risks arising from these financial instruments.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Income Taxes</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;'><font style='line-height:115%'>The Company follows the liability method of accounting for income taxes.&#160; Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences).&#160; The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. </font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;'><font style='line-height:115%'>At December 31, 2012, a full deferred tax asset valuation allowance has been provided and no deferred tax asset has been recorded.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Earnings Per Share</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;'><font style='line-height:115%'>The Company computes loss per share in accordance with ASC 105, &#147;Earnings per Share&#148; which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period.&#160; Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;'><font style='line-height:115%'>The Company has no potential dilutive instruments and accordingly basic loss and diluted loss per share are equal.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Stock-based Compensation</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;'><font style='line-height:115%'>The Company accounts for employee and non-employee stock awards under ASC 718, whereby equity instruments issued to employees for services are recorded based on the fair value of the instrument issued and those issued to non-employees are recorded based on the fair value of the consideration received or the fair value of the equity instrument, whichever is more reliably measurable. </font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;'><font style='line-height:115%'>3 - COMMON STOCK</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;'><font style='line-height:115%'>The total number of common shares authorized that may be issued by the Company is 75,000,000 shares with a par value of one tenth of one cent ($0.001) per share and no other class of shares is authorized.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;'><font style='line-height:115%'>As of December 31, 2012, the Company has issued 6,000,000 shares of common stock for total cash proceeds of $60,000. At December 31, 2012 there were no outstanding stock options or warrants.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;'><font style='line-height:115%'>4 - INCOME TAXES </font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;'><font style='line-height:115%'>As of December 31, 2012, the Company had net operating loss carry forwards of approximately $27,372 that may be available to reduce future years&#146; taxable income through 2030. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;'><font style='line-height:115%'>5 - RELATED PARTY TRANSACTIONS </font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;'><font style='line-height:115%'>At December 31, 2012 and 2011 the Company owed an officer $9,161 and $5,000 for working capital advances. The $9,161 owed at end 2012 includes $161 of interest accrued in 2012 at approximately 2% per annum. </font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;'><font style='line-height:115%'>6 - SUBSEQUENT EVENTS </font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;'><font style='line-height:115%'>The Company has evaluated subsequent events through the date of issuance of these financial statements and determined that there are no reportable subsequent events.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;'><font style='line-height:115%'>Basis of Presentation</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;'><font style='line-height:115%'>The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars.&#160; </font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Development Stage Company</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;'><font style='line-height:115%'>The Company complies with the ASC 915, its characterization of the Company as a development stage enterprise. </font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Use of Estimates and Assumptions</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;'><font style='line-height:115%'>The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period.&#160; Actual results could differ from those estimates.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;'><font style='line-height:115%'>The carrying value of cash and accounts payable and accrued liabilities approximates their fair value because of the short maturity of these instruments.&#160; Unless otherwise noted, it is management&#146;s opinion the Company is not exposed to significant interest, currency or credit risks arising from these financial instruments.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Income Taxes</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;'><font style='line-height:115%'>The Company follows the liability method of accounting for income taxes.&#160; Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences).&#160; The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. </font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;'><font style='line-height:115%'>At December 31, 2012, a full deferred tax asset valuation allowance has been provided and no deferred tax asset has been recorded.</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>Earnings Per Share</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;'><font style='line-height:115%'>The Company computes loss per share in accordance with ASC 105, &#147;Earnings per Share&#148; which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. 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4 - Income Taxes
12 Months Ended
Dec. 31, 2012
Notes  
4 - Income Taxes

4 - INCOME TAXES

As of December 31, 2012, the Company had net operating loss carry forwards of approximately $27,372 that may be available to reduce future years’ taxable income through 2030. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards.

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3 - Common Stock
12 Months Ended
Dec. 31, 2012
Notes  
3 - Common Stock

3 - COMMON STOCK

The total number of common shares authorized that may be issued by the Company is 75,000,000 shares with a par value of one tenth of one cent ($0.001) per share and no other class of shares is authorized.

As of December 31, 2012, the Company has issued 6,000,000 shares of common stock for total cash proceeds of $60,000. At December 31, 2012 there were no outstanding stock options or warrants.

XML 12 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
Redstone Literary Agents, Inc. - (A Development Stage Company) - Balance Sheets (USD $)
Dec. 31, 2012
Dec. 31, 2011
Current Assets    
Cash $ 41,789 $ 920
Total Assets 41,789 920
Current Liabilities    
Loan from related parties 9,161 5,000
Total Current Liabilities 9,161 5,000
Stockholders' Equity    
Capital Stock 6,000 3,000
Additional Paid in Capital 54,000 12,000
Share subscription receivable 0 (5,000)
Deficit Accumulated during development Stage (27,372) (14,080)
Total Stockholders' Equity 32,628 (4,080)
Total Liabilities & Stockholders' Equity $ 21,670 $ 920
XML 13 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Redstone Literary Agents, Inc. - (A Development Stage Company) - Statements of Cash Flows (USD $)
12 Months Ended 29 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2012
Cash Derived From (used for) Operating Activities      
Net Loss $ (13,292) $ (13,310) $ (27,372)
Changes in operating assets and liabilities      
Net cash (used in) operating activities (13,292) (13,310) (27,372)
Cash Flows from Financing Activities      
Loans from related party 4,161 0 9,161
Shares subscribed for cash 50,000 5,000 60,000
Net Cash provided by financing activities 54,161 5,000 69,161
Investing Activities      
Net cash used for investing activities 0 0 0
Cash increase during the period 40,869 (8,310) 41,789
Cash beginning of the period 920 9,230 0
Cash end of the period $ 41,789 $ 920 $ 41,789
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XML 15 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
1 - Nature and Continuance of Operations
12 Months Ended
Dec. 31, 2012
Notes  
1 - Nature and Continuance of Operations

1 – NATURE AND CONTINUANCE OF OPERATIONS

Redstone Literary Agents, Inc. (“the Company”) was incorporated under the laws of State of Nevada, U.S. on July 20, 2010, with an authorized capital of 75,000,000 common shares with a par value of $0.001.  The Company’s year end is the end of December.  The Company is in the development stage of its publishing service business.  During the period ended December 31, 2010, the Company commenced operations by issuing shares.

  These financial statements have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future.  The Company has incurred losses since inception resulting in an accumulated deficit of $27,372 as at December 31, 2012 and further losses are anticipated in the development of its business raising substantial doubt about the Company’s ability to continue as a going concern.  The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with existing cash on hand and loans from directors and or private placement of common stock. 

 

2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. 

 

Development Stage Company

The Company complies with the ASC 915, its characterization of the Company as a development stage enterprise.

 

Use of Estimates and Assumptions

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period.  Actual results could differ from those estimates.

The carrying value of cash and accounts payable and accrued liabilities approximates their fair value because of the short maturity of these instruments.  Unless otherwise noted, it is management’s opinion the Company is not exposed to significant interest, currency or credit risks arising from these financial instruments.

 

Income Taxes

The Company follows the liability method of accounting for income taxes.  Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences).  The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

At December 31, 2012, a full deferred tax asset valuation allowance has been provided and no deferred tax asset has been recorded.

 

Earnings Per Share

The Company computes loss per share in accordance with ASC 105, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period.  Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive.

The Company has no potential dilutive instruments and accordingly basic loss and diluted loss per share are equal.

 

Stock-based Compensation

The Company accounts for employee and non-employee stock awards under ASC 718, whereby equity instruments issued to employees for services are recorded based on the fair value of the instrument issued and those issued to non-employees are recorded based on the fair value of the consideration received or the fair value of the equity instrument, whichever is more reliably measurable.

XML 16 R3.htm IDEA: XBRL DOCUMENT v2.4.0.6
Redstone Literary Agents, Inc. - (A Development Stage Company) - Statement of Financial Position - Parenthetical (USD $)
Dec. 31, 2012
Dec. 31, 2011
Common Stock, Par Value $ 0.001 $ 0.001
Common Stock, Shares Authorized 75,000,000 75,000,000
Common Stock, Shares Issued 6,000,000 3,000,000
Common Stock, Shares Outstanding 6,000,000 3,000,000
XML 17 R17.htm IDEA: XBRL DOCUMENT v2.4.0.6
1 - Nature and Continuance of Operations: Stock-based Compensation (Policies)
12 Months Ended
Dec. 31, 2012
Policies  
Stock-based Compensation

Stock-based Compensation

The Company accounts for employee and non-employee stock awards under ASC 718, whereby equity instruments issued to employees for services are recorded based on the fair value of the instrument issued and those issued to non-employees are recorded based on the fair value of the consideration received or the fair value of the equity instrument, whichever is more reliably measurable.

XML 18 R1.htm IDEA: XBRL DOCUMENT v2.4.0.6
Document and Entity Information (USD $)
12 Months Ended
Dec. 31, 2012
Document and Entity Information:  
Entity Registrant Name RedStone Literary Agents, Inc.
Document Type 10-K
Document Period End Date Dec. 31, 2012
Amendment Flag true
Amendment Description add xbrl
Entity Central Index Key 0001515139
Current Fiscal Year End Date --12-31
Entity Common Stock, Shares Outstanding 6,000,000
Entity Public Float $ 0
Entity Filer Category Smaller Reporting Company
Entity Current Reporting Status Yes
Entity Voluntary Filers Yes
Entity Well-known Seasoned Issuer No
Document Fiscal Year Focus 2012
Document Fiscal Period Focus FY
XML 19 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Redstone Literary Agents, Inc. - (A Development Stage Company) - Statements of Operations (USD $)
12 Months Ended 29 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2012
Sales $ 11,150 $ 0 $ 11,150
General And Administrative Expenses      
Bank Charges and Interest 376 292 729
Consulting Fees 11,180 0 11,180
Professional Fees 9,250 8,200 17,450
Office Expenses 3,636 4,818 9,163
Total General and Administrative expenses 24,442 13,310 38,522
Net Loss $ (13,292) $ (13,310) $ (27,372)
Earnings per share - basic and diluted $ 0 $ 0  
Weighted average outstanding shares 4,500,000 3,000,000  
XML 20 R12.htm IDEA: XBRL DOCUMENT v2.4.0.6
1 - Nature and Continuance of Operations: Basis of Presentation (Policies)
12 Months Ended
Dec. 31, 2012
Policies  
Basis of Presentation

Basis of Presentation

The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. 

XML 21 R11.htm IDEA: XBRL DOCUMENT v2.4.0.6
6 - Subsequent Events
12 Months Ended
Dec. 31, 2012
Notes  
6 - Subsequent Events

6 - SUBSEQUENT EVENTS

The Company has evaluated subsequent events through the date of issuance of these financial statements and determined that there are no reportable subsequent events.

XML 22 R15.htm IDEA: XBRL DOCUMENT v2.4.0.6
1 - Nature and Continuance of Operations: Income Taxes (Policies)
12 Months Ended
Dec. 31, 2012
Policies  
Income Taxes

Income Taxes

The Company follows the liability method of accounting for income taxes.  Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences).  The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

At December 31, 2012, a full deferred tax asset valuation allowance has been provided and no deferred tax asset has been recorded.

XML 23 R13.htm IDEA: XBRL DOCUMENT v2.4.0.6
1 - Nature and Continuance of Operations: Development Stage Company (Policies)
12 Months Ended
Dec. 31, 2012
Policies  
Development Stage Company

Development Stage Company

The Company complies with the ASC 915, its characterization of the Company as a development stage enterprise.

XML 24 R14.htm IDEA: XBRL DOCUMENT v2.4.0.6
1 - Nature and Continuance of Operations: Use of Estimates and Assumptions (Policies)
12 Months Ended
Dec. 31, 2012
Policies  
Use of Estimates and Assumptions

Use of Estimates and Assumptions

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period.  Actual results could differ from those estimates.

The carrying value of cash and accounts payable and accrued liabilities approximates their fair value because of the short maturity of these instruments.  Unless otherwise noted, it is management’s opinion the Company is not exposed to significant interest, currency or credit risks arising from these financial instruments.

XML 25 R16.htm IDEA: XBRL DOCUMENT v2.4.0.6
1 - Nature and Continuance of Operations: Earnings Per Share (Policies)
12 Months Ended
Dec. 31, 2012
Policies  
Earnings Per Share

Earnings Per Share

The Company computes loss per share in accordance with ASC 105, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period.  Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive.

The Company has no potential dilutive instruments and accordingly basic loss and diluted loss per share are equal.

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Redstone Literary Agents, Inc. (A Development Stage Company) Statement of Changes in Stockholders' Equity (USD $)
Common Stock
Additional Paid-in Capital
Capital Stock
Deficit Accumulated During Development Stage
Total
Balance, Value at Jul. 19, 2010 $ 0 $ 0 $ 0 $ 0 $ 0
Balance, Shares at Jul. 19, 2010 0        
Stock issued for cash @ $0.005 per share, Value 3,000 12,000 15,000   15,000
Stock issued for cash @ $0.005 per share, Shares 3,000,000        
Share Subscription     (5,000)   (5,000)
Net loss       (770) (770)
Balance, Value at Dec. 31, 2010 3,000 12,000 10,000 (770) 9,230
Balance, Shares at Dec. 31, 2010 3,000,000        
Net loss       (13,310) (13,310)
Balance, Value at Dec. 31, 2011 3,000 12,000 10,000 (14,080) (4,080)
Balance, Shares at Dec. 31, 2011 3,000,000        
Share Subscription Received     5,000   5,000
Stock issued for cash @ $0.015 per share, Value 3,000 42,000 45,000   45,000
Stock issued for cash @ $0.015 per share, Shares 3,000,000        
Net loss       (13,292) (13,292)
Balance, Value at Dec. 31, 2012 $ 6,000 $ 54,000 $ 60,000 $ (27,372) $ 32,628
Balance, Shares at Dec. 31, 2012 6,000,000        

XML 28 R10.htm IDEA: XBRL DOCUMENT v2.4.0.6
5 - Related Party Transactions
12 Months Ended
Dec. 31, 2012
Notes  
5 - Related Party Transactions

5 - RELATED PARTY TRANSACTIONS

At December 31, 2012 and 2011 the Company owed an officer $9,161 and $5,000 for working capital advances. The $9,161 owed at end 2012 includes $161 of interest accrued in 2012 at approximately 2% per annum.

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