0001469709-14-000474.txt : 20141114 0001469709-14-000474.hdr.sgml : 20141114 20141114115915 ACCESSION NUMBER: 0001469709-14-000474 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 10 CONFORMED PERIOD OF REPORT: 20140930 FILED AS OF DATE: 20141114 DATE AS OF CHANGE: 20141114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LIGHTCOLLAR, INC. CENTRAL INDEX KEY: 0001520118 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-MISCELLANEOUS RETAIL [5900] IRS NUMBER: 421771342 STATE OF INCORPORATION: NV FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 333-174759 FILM NUMBER: 141221885 BUSINESS ADDRESS: STREET 1: 2248 MERIDIAN BLVD STREET 2: STE. H CITY: MINDEN STATE: NV ZIP: 89423 BUSINESS PHONE: 303-250-0775 MAIL ADDRESS: STREET 1: 2248 MERIDIAN BLVD STREET 2: STE. H CITY: MINDEN STATE: NV ZIP: 89423 10-Q 1 lcll10q_093014apg.htm LCLL 10-Q 09/30/14 LCLL 10-Q 09/30/14


UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549


FORM 10-Q


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

For the quarterly period ended: September 30, 2014


[  ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT OF 1934


For the transition period from ______ to _______


Commission File Number: 333-103621



LIGHTCOLLAR, INC.

(Name of small business issuer in its charter)


Nevada

 

42-1771342

(State of incorporation)

 

(I.R.S. Employer Identification No.)


2248 Meridian Blvd Ste H.

Minden, Nevada 89423

(Address of principal executive offices)


(303) 250-0775

(Registrant’s telephone number)


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 whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes [X] No [   ]


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

[   ]

Accelerated filer

[   ]

Non-accelerated filer

[   ] (Do not check if a smaller reporting company)

Smaller reporting company

[X]


Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [X] No [   ]


As of November 14, 2014, there were 5,650,000 shares of the registrant’s $0.001 par value common stock issued and outstanding.




 




LIGHTCOLLAR, INC.*


TABLE OF CONTENTS

 

 

Page

PART I. FINANCIAL INFORMATION

 

 

 

ITEM 1.

CONDENSED FINANCIAL STATEMENTS

3

 

 

 

ITEM 2.

  MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

9

 

 

 

ITEM 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

12

 

 

 

ITEM 4.

CONTROLS AND PROCEDURES    

12

 

 

 

 

 

PART II. OTHER INFORMATION

 

 

 

ITEM 1.

LEGAL PROCEEDINGS

13

 

 

 

ITEM 1A.

RISK FACTORS

13

 

 

 

ITEM 2.

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

13

 

 

 

ITEM 3.

DEFAULTS UPON SENIOR SECURITIES

13

 

 

 

ITEM 4.

MINE SAFETY DISCLOSURES

13

 

 

 

ITEM 5.

OTHER INFORMATION

13

 

 

 

ITEM 6.

EXHIBITS

13




Special Note Regarding Forward-Looking Statements


Information included in this Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (“Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (“Exchange Act”). This information may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of LIGHTCOLLAR, INC. (the “Company”), to be materially different from future results, performance or achievements expressed or implied by any forward-looking statements. Forward-looking statements, which involve assumptions and describe future plans, strategies and expectations of the Company, are generally identifiable by use of the words “may,” “will,” “should,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” or “project” or the negative of these words or other variations on these words or comparable terminology. These forward-looking statements are based on assumptions that may be incorrect, and there can be no assurance that these projections included in these forward-looking statements will come to pass. Actual results of the Company could differ materially from those expressed or implied by the forward-looking statements as a result of various factors. Except as required by applicable laws, the Company has no obligation to update publicly any forward-looking statements for any reason, even if new information becomes available or other events occur in the future.


*Please note that throughout this Quarterly Report, and unless otherwise noted, the words "we,"”LCLL,” "our," "us," the "Company," refers to LIGHTCOLLAR, INC.



2



PART I - FINANCIAL INFORMATION


ITEM 1. CONDENSED FINANCIAL STATEMENTS










LIGHTCOLLAR, INC.


Condensed Financial Statements


September 30, 2014

(Unaudited)









Financial Statement Index


Condensed Balance Sheets

4


Condensed Statements of Operations

5


Condensed Statements of Cash Flows

6


Notes to the Condensed Financial Statements

7


 

 



 

3




LIGHTCOLLAR, INC.

Condensed Balance Sheets


 

 

September 30,

2014

 

 

March 31,

2014

 

 

(Unaudited)

 

 

 

ASSETS

 

 

 

 

 

 

 

Current assets

 

$

 

$

 

 

 

 

 

 

 

Total assets

 

$

 

$

 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS' DEFICIT

 

 

 

 

 

 

LIABILITIES

 

 

 

 

 

 

Current Liabilities

 

 

 

 

 

 

  Accounts payable

 

$

11,966 

 

$

4,253 

  Loan from stockholders

 

 

67,823 

 

 

56,535 

Total current liabilities

 

 

79,789 

 

 

60,788 

 

 

 

 

 

 

 

Total liabilities

 

 

79,789 

 

 

60,788 

 

 

 

 

 

 

 

STOCKHOLDERS' DEFICIT

 

 

 

 

 

 

  Preferred stock, par value $0.001, 20,000,000 shares authorized

  None-issued and outstanding

 

 

 

 

  Common stock, par value $0.001, 100,000,000 shares authorized

 

 

 

 

 

 

  and 5,650,000 shares issued and outstanding as of September 30, and

  March 31, 2014

 

5,650 

 

 

5,650 

  Additional paid-in capital

 

 

50,850 

 

 

50,850 

  Accumulated deficit

 

 

(136,289)

 

 

(117,288)

Total stockholders' deficit

 

 

(79,789)

 

 

(60,788)

 

 

 

 

 

 

 

TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT

 

$

 

$


The accompanying notes are an integral part of these condensed financial statements



4




LIGHTCOLLAR, INC.

Condensed Statements of Operations (Unaudited)

For the three months and six months ended September 30, 2014 and 2013.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

 

Six months ended

 

 

 

September 30,

 

September 30,

 

 

 

2014

 

2013

 

2014

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

Organization cost

 

 

 

 

 

 

 

 

 

Professional fees

 

 

8,189 

 

 

4,775 

 

 

14,710 

 

 

9,082 

 

Memberships

 

 

 

 

8,000 

 

 

 

 

8,000 

 

General and administrative expenses

 

 

3,591 

 

 

450 

 

 

4,291 

 

 

1,450 

 

Total operating expenses

 

 

11,780 

 

 

13,225 

 

 

19,001 

 

 

18,532 

Other expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

 

 

 

 

 

 

 

Total other expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(11,780)

 

$

(13,225)

 

$

(19,001)

 

$

(18,532)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss per share-basic and diluted

$

Nil

 

$

Nil

 

$

Nil

 

$

Nil

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of common

 

 

 

 

 

 

 

 

 

 

 

Shares outstanding – Basic – and Diluted

 

5,650,000 

 

 

5,650,000 

 

 

5,650,000 

 

 

5,650,000 


The accompanying notes are an integral part of these condensed financial statements



5




LIGHTCOLLAR, INC.

Condensed Cash Flow Statements (Unaudited)

 

 

 

 

 

 

 

 

 

 

 

Six months ended

 

 

 

September 30,

 

 

 

2014

 

2013

 

 

 

 

 

 

 

 

Cash flow from operating activities:

 

 

 

 

 

 

 

Net loss

 

 $

(19,001)

 

 $

(18,532)

 

Changes in operating assets and liabilities:

 

 

 

 

 

 

Increase (decrease) in account payable

 

7,713 

 

 

(150)

 

(Increase) in prepaid expenses

 

 

 

 

(2,000)

 

Net cash used in operating activities

 

 

(11,288)

 

 

(20,682)

 

 

 

 

 

 

 

 

Cash flow from investing activities:

 

 

 

 

 

 

 

 

 

 

 

 

Cash flow from financing activities:

 

 

 

 

 

 

 

Loan from stockholders

 

 

11,288 

 

 

20,073 

 

Sales of stock for cash

 

 

 

 

 

Net cash provided by financing activities

 

 

11,288 

 

 

20,073 

 

 

 

 

 

 

 

 

Net decrease in cash

 

 

 

 

(609)

 

 

 

 

 

 

 

 

Cash-beginning of period

 

 

 

 

609 

 

 

 

 

 

 

 

 

Cash-end of period

 

 $

 

 $


The accompanying notes are an integral part of these condensed financial statements


6



LIGHTCOLLAR, INC.

NOTES TO CONDENSED FINANCIAL STATEMENTS

SEPTEMBER 30, 2014 (UNAUDITED)


NOTE 1 - ORGANIZATION AND BASIS OF PRESENTATION


Lightcollar, Inc. (the Company) was incorporated on March 22, 2011, under the laws of the State of Nevada.  The business purpose of the Company is to resell an illuminated pet collar pendant through the Company’s website, Lightcollar.com.  The website will be a promotional center for the product.  The Company has selected March 31 as it fiscal year end.


The unaudited interim condensed financial statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”).  The financial statements and notes are presented as permitted on Form 10-Q and do not contain all the information included in the Company’s annual statements and notes.  Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading.  It is suggested that these financial statements be read in conjunction with the March 31, 2014, audited financial statements and the accompanying notes thereto contained in the Annual Report on Form 10-K.  Operating results for the three months ended September 30, 2014, are not necessarily indicative of the results that may be expected for the full year ending March 31, 2015.


These unaudited financial statements reflect all adjustments, including normal recurring adjustments which, in the opinion of management, are necessary to present fairly the operations and cash flows for the periods presented.


NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES


Use of Estimates


The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America may require management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could then differ from those estimates.  There are no such estimates or assumptions incorporated in the attached financial statements.


Office Space and Labor


The Company’s sole Officer and Director will provide the labor required to execute the business plan and supply the necessary office space and facilities for the initial period of operations.  The Company will recognize the fair value of services and office space provided by our sole Officer and Director as contributed capital in accordance with ASC 225-10-S99-4.  From inception (March 22, 2011) through September 30, 2014, the fair value of services and office space provided was estimated to be nil.


Net Income or (Loss) Per Share of Common Stock


The Company follows financial accounting standards, which provide for “basic” and “diluted” earnings per share.  Basic earnings per share is computed by dividing income or loss available to common shareholders by the weighted average shares outstanding; basic and diluted, for the period.  Diluted earnings per share reflects the potential dilution due to other securities outstanding which could affect the number of common shares upon exercise. The

Company has no potentially dilutive securities, such as options, warrants or convertible bonds, currently issued and outstanding.  Consequently, basic and diluted shares are the same, as presented in the Statements of Operations.


7



NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)


Recently Enacted Accounting Standards


In June 2014, the Financial Accounting Standards Board issued Accounting Standard Update No. 2014-10 (“the ASU”). This update changes the requirements for disclosures as it relates to development stage entities.  The ASU specifies that the ‘inception–to-date’ information is no longer required to be presented in the financial statements of a development stage entity.  The amendments in the ASU are effective for annual reporting periods beginning after December 15, 2014 and interim periods therein, with early application permitted for any financial statements that have not yet been issued.  The Company has elected to apply the amendments as of the three month period ended June 30, 2014.


NOTE 3 - LOANS FROM STOCKHOLDERS


The Company’s President and sole Director and another stockholder have advanced funds for Company expenses as unsecured non-interest bearing loans.  The loans are payable on demand and therefore classified as current liabilities.  The total of advances payable to stockholders was $67,823 as of September 30, 2014 ($56,535 as of March 31, 2014).


NOTE 4 - STOCKHOLDERS’ DEFICIT


Preferred Stock


As of September 30, 2014, the Company has 20,000,000 shares of preferred stock authorized with a par value of $0.001 per share.  No preferred shares are issued and outstanding.


Common Stock


As of September 30, 2014, the Company has 100,000,000 shares of common stock authorized with a par value of $0.001 per share. 5,650,000 shares have been sold.


No sales of stock have occurred during the six months ended September 30, 2014.


The inception-to-date loss of $136,289 less $56,500 stock sale proceeds yields a stockholder’s deficit of $79,789 as of September 30, 2014.


NOTE 5 - GOING CONCERN


The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America, which contemplates continuation of the Company as a going concern.  The Company has incurred an operating deficit since its inception, is in the development stage, has generated no operating revenue, and has negative working capital of $79,789 as of September 30, 2014. These items raise substantial doubt about the Company’s ability to continue as a going concern.


In view of these matters, realization of the assets of the Company is dependent upon the Company’s ability to meet its financial requirements through equity financing, loans from stockholders and sales of the Lightcollar pendants.  These financial statements do not include adjustments relating to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue in existence.



8



ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION OR PLAN OF OPERATION

FORWARD-LOOKING STATEMENTS


This Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A) contains forward-looking statements that involve known and unknown risks, significant uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed, or implied, by those forward-looking statements. You can identify forward-looking statements by the use of the words may, will, should, could, expects, plans, anticipates, believes, estimates, predicts, intends, potential, proposed, or continue or the negative of those terms. These statements are only predictions. In evaluating these statements, you should consider various factors which may cause our actual results to differ materially from any forward-looking statements. Although we believe that the exceptions reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements.  Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.


RESULTS OF OPERATIONS


Results for the Three Months Ended September 30, 2014 Compared to the Three Months Ended September 30, 2013


Revenues:


The Company’s revenues were $nil for the three months ended September 30, 2014 compared to $nil in 2013.


Cost of Revenues:


The Company’s cost of revenue was $nil for the three months ended September 30, 2014, compared to $nil in 2013.


Operating Expenses:


Operating expenses for the three months ended September 30, 2014, and September 30, 2013, were $11,780 and $13,225, respectively.  General and administrative expenses consisted primarily of consulting fees, management fees, office expenses and preparing reports and SEC filings relating to being a public company. The decrease was primarily attributable to lower professional fees and administrative expenses.


Net Loss:


Net loss for the three months ended September 30, 2014, was $(11,780) compared with a net loss of $(13,225) for the three months ended September 30, 2013.  The decreased net loss is due to a decrease in prepaid expenses and professional fees due to the limited activity of the company.


Results for the Six Months Ended September 30, 2014 Compared to the Six Months Ended September 30, 2013


Revenues:


The Company’s revenues were $nil for the six months ended September 30, 2014 compared to $nil in 2013.


Cost of Revenues:


The Company’s cost of revenue was $nil for the six months ended September 30, 2014, compared to $nil in 2013.


Operating Expenses:


Operating expenses for the six months ended September 30, 2014, and September 30, 2013, were $19,001 and $18,532, respectively.  General and administrative expenses consisted primarily of consulting fees, management fees, office expenses and preparing reports and SEC filings relating to being a public company. The increase was primarily attributable to higher professional fees and administrative expenses.



9



Net Loss:


Net loss for the six months ended September 30, 2014, was $(19,001) compared with a net loss of $(18,532) for the six months ended September 30, 2013.  The increased net loss is due to an increase in professional fees related to the filings and activity of the company.


Impact of Inflation


We believe that the rate of inflation has had a negligible effect on our operations.


Liquidity and Capital Resources


The ability of the Company to continue as a going concern is dependent on the Company’s ability to raise additional capital and implement its business plan. Since its inception, the Company has been funded by related parties through capital investment and borrowing funds.


As of September 30, 2014, total current assets were $nil.


Working Capital


 

September 30,

2014

$

March 31,

2014

$

Cash

Current Assets   

Current Liabilities

79,789 

60,788 

Working Capital (Deficit)

(79,789)

(60,788)



Cash Flows


 

Six Months Ended

 

September 30,

2014

$

September 30,

2013

$

Cash Flows from (used in) Operating Activities

(11,288)

(20,682)

Cash Flows from (used in) Investing  Activities

-

Cash Flows from (used in) Financing  Activities

11,288

20,073 

Net Increase (decrease) in Cash During Period

-

(609)



As of September 30, 2014, total current liabilities were $79,789, which consisted primarily of accounts payable and advances from stockholders. We had negative net working capital of $(79,789) as of September 30, 2014.


Intangible Assets


The Company’s intangible assets were $-0- as of September 30, 2014.


Material Commitments


The Company’s material commitments were $-0- as of September 30, 2014.


Quarterly Developments


On July 25, 2014, Mr. Michael J. Scott resigned from his position with the Company as Chief Executive Officer. His resignation was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.




10



On August 1, 2014, Mr. William F. Cooper III, resigned from his position with the Company as President. His resignation was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.


On August 5, 2014, Mr. Matveev Anton, was appointed as the Company’s President and Chief Executive Officer, to serve until the next annual meeting of the Shareholders and/or until his successor is duly appointed.


Subsequent Events


Effective as of November 5, 2014, Mr. John Evans resigned from his position with the Company as Chief Financial Officer. His resignation was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.


On November 5, 2014, Mr. William Becker resigned from his position with the Company as Secretary. His resignation was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.


On November 5, 2014, Mr. Matveev Anton, was appointed as the Company’s  Chief Financial Officer and Secretary, to serve until the next annual meeting of the Shareholders and/or until his successor is duly appointed.


Going Concern


We have not attained profitable operations and are dependent upon obtaining financing to pursue any extensive acquisitions and activities. For these reasons, our auditors stated in their report on our audited 2013 financial statements that they have substantial doubt that we will be able to continue as a going concern without further financing.


Future Financings


We will continue to rely on equity sales of our common shares in order to continue to fund our business operations. Issuances of additional shares will result in dilution to existing stockholders. There is no assurance that we will achieve any additional sales of the equity securities or arrange for debt or other financing to fund our operations and other activities.


Off-Balance Sheet Arrangements


We have no significant off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to stockholders.


Critical Accounting Policies


Our financial statements and accompanying notes have been prepared in accordance with United States generally accepted accounting principles applied on a consistent basis. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods.


We regularly evaluate the accounting policies and estimates that we use to prepare our financial statements. A complete summary of these policies is included in the notes to our financial statements. In general, management's estimates are based on historical experience, on information from third party professionals, and on various other assumptions that are believed to be reasonable under the facts and circumstances. Actual results could differ from those estimates made by management.


Recently Issued Accounting Pronouncements


The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not



11



believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.


ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK


We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.


ITEM 4.  CONTROLS AND PROCEDURES


Evaluation of Disclosure Controls and Procedures


Disclosure controls and procedures are controls and procedures that are designed to ensure that information required to be disclosed in our reports filed under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the SEC's rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by our company in the reports that it files or submits under the Exchange Act is accumulated and communicated to our management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure. Our management carried out an evaluation under the supervision and with the participation of our Principal Executive Officer and Principal Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures pursuant to Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934 ("Exchange Act"). Based upon that evaluation, our Principal Executive Officer and Principal Financial Officer have concluded that our disclosure controls and procedures were not effective as of September 30, 2014, due to the material weaknesses resulting from the Board of Directors not currently having any independent members and no director qualifies as an audit committee financial expert as defined in Item 407(d)(5)(ii) of Regulation S-K, and controls were not designed and in place to ensure that all disclosures required were originally addressed in our financial statements. Please refer to our Annual Report on Form 10-K as filed with the SEC on July 2, 2014, for a complete discussion relating to the foregoing evaluation of Disclosures and Procedures.

 

Changes in Internal Control over Financial Reporting

 

Our management has also evaluated our internal control over financial reporting, and there have been no significant changes in our internal controls or in other factors that could significantly affect those controls subsequent to the date of our last evaluation except for the following:  There was a change in control of the majority owners and officers of the Company.  Internal controls in place with the prior officers were continued by the new owners.

 

The Company is not required by current SEC rules to include, and does not include, an auditor's attestation report. The Company's registered public accounting firm has not attested to Management's reports on the Company's internal control over financial reporting.




12



PART II - OTHER INFORMATION


ITEM 1.  LEGAL PROCEEDINGS


We know of no material, existing or pending legal proceedings against our company, nor are we involved as a plaintiff in any material proceeding or pending litigation. There are no proceedings in which our director, officer or any affiliates, or any registered or beneficial shareholder, is an adverse party or has a material interest adverse to our interest.


ITEM 1A.  RISK FACTORS


We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.


ITEM 2.  UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS


None.


ITEM 3.  DEFAULTS UPON SENIOR SECURITIES


None.


ITEM 4.  MINE SAFETY DISCLOSURES


Not applicable.


ITEM 5.  OTHER INFORMATION


None.


ITEM 6.  EXHIBITS


Exhibit Number

Description of Exhibit

 

 

Filing

3.1

Articles of Incorporation

 

 

Filed with the SEC on June 7, 2011 as part of our Registration of Securities on Form S-1.

3.2

Bylaws

 

 

Filed with the SEC on June 7, 2011 as part of our Registration of Securities on Form S-1.

31.01

Certification of Principal Executive Officer Pursuant to Rule 13a-14

 

 

Filed herewith.

31.02

Certification of Principal Financial Officer Pursuant to Rule 13a-14

 

 

Filed herewith.

32.01

Certification of CEO Pursuant to Section 906 of the Sarbanes-Oxley Act

 

 

Filed herewith.

32.02

Certification of CFO Pursuant to Section 906 of the Sarbanes-Oxley Act

 

 

Filed herewith.

101.INS*

XBRL Instance Document

 

 

Furnished herewith.

101.SCH*

XBRL Taxonomy Extension Schema Document

 

 

Furnished herewith.

101.CAL*

XBRL Taxonomy Extension Calculation Linkbase Document

 

 

Furnished herewith.

101.LAB*

XBRL Taxonomy Extension Labels Linkbase Document

 

 

Furnished herewith.

101.PRE*

XBRL Taxonomy Extension Presentation Linkbase Document

 

 

Furnished herewith.

101.DEF*

XBRL Taxonomy Extension Definition Linkbase Document

 

 

Furnished herewith.

 

*Pursuant to Rule 406T of Regulation S-T, the Interactive Data Files on Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.




13



SIGNATURES


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


 

 

LIGHTCOLLAR, INC.


Dated: November 14, 2014

 


/s/ Matveev Anton

 

 

Matveev Anton




Dated: November14, 2014

 

Its: President


/s/ Matveev Anton

Matveev Anton

Its: Chief Financial Officer, Treasurer


In accordance with the Exchange Act, this report has been signed below by the following persons on behalf of the Company and in the capacities and on the dates indicated.


Dated: November 14, 2014

/s/ Matveev Anton

 

By: Matveev Anton

Its: Director




14


EX-31.1 2 ex31_1apg.htm EXHIBIT 31.1 Exhibit 31.1 Certification


EXHIBIT 31.1


CERTIFICATION OF THE PRINCIPAL EXECUTIVE OFFICER PURSUANT TO RULE 13a-14


I, Matveev Anton, certify that:


1. I have reviewed this Quarterly Report on Form 10-Q of Lightcollar, Inc.;


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. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) 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 us 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 our 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 our 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. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the 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: November 14, 2014

/s/ Matveev Anton

By: Matveev Anton

Its: Principal Executive Officer



EX-31.2 3 ex31_2apg.htm EXHIBIT 31.2 Exhibit 31.2 Certification


EXHIBIT 31.2


CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER PURSUANT TO RULE 13a-14


I, Matveev Anton, certify that:


1. I have reviewed this Quarterly Report on Form 10-Q of Lightcollar, Inc.;


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. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) 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 us 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 our 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 our 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. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the 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: November 14, 2014

/s/ Matveev Anton

By: Matveev Anton

Its: Principal Financial Officer




EX-32.1 4 ex32_1apg.htm EXHIBIT 32.1 Exhibit 32.1 Certification


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 Lightcollar, Inc. (the “Company”) on Form 10-Q for the period ending September 30, 2014, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Matveev Anton, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge and belief:


(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 result of operations of the Company.




/s/ Michael J. Scott

By: Michael J. Scott

Principal Executive Officer, and Principal Financial Officer

Dated: November 14, 2014


A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.




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These financial statements do not include adjustments relating to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue in existence.</p> EXCEL 11 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx M4$L#!!0`!@`(````(0!)Y#&3E@$``'T+```3``@"6T-O;G1E;G1?5'EP97-= M+GAM;""B!`(HH``"```````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M``````````````````````````````````````#,EEU/PC`4AN]-_`]+;PWK MAHIH&%SX<:DDX@^HZQEKV-JF+0C_WK/R$4,FA$AB;]9L[7G?9\UV^@Y&R[J* M%F"L4#(C:9R0"&2NN)#3C'Q,7CI]$EG')&>5DI"1%5@R&EY>#"8K#3;":FDS M4CJG'RBU>0DUL['2('&F4*9F#F_-E&J6S]@4:#=)>C17TH%T'==HD.'@"0HV MKUSTO,3':Q(#E271XWIAXY41IG4E%3^3H!L)Q'0C'32`)DCIZMUJPKL MF?^(M>@QYY(9X._.8`P\.\!/[4,<&)+&1FF+<='`Z;NPS8--=4>C$!@G8)<( MVY+5SA&CYNF&>]$.FC#+@;=X4Q^>A]\```#__P,`4$L#!!0`!@`(````(0"U M53`C]0```$P"```+``@"7W)E;',O+G)E;',@H@0"**```@`````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M````````C)+/3L,P#,;O2+Q#Y/OJ;D@(H:6[3$B[(50>P"3N'[6-HR1`]_:$ M`X)*8]O1]N?//UO>[N9I5!\<8B].P[HH0;$S8GO7:GBMGU8/H&(B9VD4QQJ. 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Note 4 - Stockholders' Deficit
6 Months Ended
Sep. 30, 2014
Equity [Abstract]  
Note 4 - Stockholders' Deficit

NOTE 4 - STOCKHOLDERS’ DEFICIT

 

Preferred Stock

 

As of September 30, 2014, the Company has 20,000,000 shares of preferred stock authorized with a par value of $0.001 per share. No preferred shares are issued and outstanding.

 

Common Stock

 

As of September 30, 2014, the Company has 100,000,000 shares of common stock authorized with a par value of $0.001 per share. 5,650,000 shares have been sold.

 

No sales of stock have occurred during the six months ended September 30, 2014.

 

The inception-to-date loss of $136,289 less $56,500 stock sale proceeds yields a stockholder’s deficit of $79,789 as of September 30, 2014.

 

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Note 3 - Loans From Stockholders
6 Months Ended
Sep. 30, 2014
Related Party Transactions [Abstract]  
Note 3 - Loans From Stockholders

NOTE 3 - LOANS FROM STOCKHOLDERS

 

The Company’s President and sole Director and another stockholder have advanced funds for Company expenses as unsecured non-interest bearing loans. The loans are payable on demand and therefore classified as current liabilities. The total of advances payable to stockholders was $67,823 as of September 30, 2014 ($56,535 as of March 31, 2014).

 

XML 17 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Balance Sheets (Unaudited) (USD $)
Sep. 30, 2014
Mar. 31, 2014
ASSETS    
Current Assets $ 0 $ 0
TOTAL ASSETS 0 0
Current Liabilities    
Accounts payable 11,966 4,253
Loans from stockholders 67,823 56,535
Total Current Liabilities 79,789 60,788
Total Liabilities 79,789 60,788
STOCKHOLDERS' DEFICIT    
Preferred stock, par value $0.001, 20,000,000 shares authorized, none issued and outstanding 0 0
Common stock, par value $0.001, 100,000,000 shares authorized, 5,650,000 shares issued and outstanding 5,650 5,650
Additional paid-in capital 50,850 50,850
Accumulated deficit (136,289) (117,288)
Total Stockholders' Deficit (79,789) (60,788)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 0 $ 0
XML 18 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note 1 - Organization and Basis of Presentation
6 Months Ended
Sep. 30, 2014
Accounting Policies [Abstract]  
Note 1 - Organization and Basis of Presentation

NOTE 1 - ORGANIZATION AND BASIS OF PRESENTATION

 

Lightcollar, Inc. (the Company) was incorporated on March 22, 2011, under the laws of the State of Nevada. The business purpose of the Company is to resell an illuminated pet collar pendant through the Company’s website, Lightcollar.com. The website will be a promotional center for the product. The Company has selected March 31 as it fiscal year end.

 

The unaudited interim condensed financial statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The financial statements and notes are presented as permitted on Form 10-Q and do not contain all the information included in the Company’s annual statements and notes. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. It is suggested that these financial statements be read in conjunction with the March 31, 2014, audited financial statements and the accompanying notes thereto contained in the Annual Report on Form 10-K. Operating results for the three months ended September 30, 2014, are not necessarily indicative of the results that may be expected for the full year ending March 31, 2015.

 

These unaudited financial statements reflect all adjustments, including normal recurring adjustments which, in the opinion of management, are necessary to present fairly the operations and cash flows for the periods presented.

 

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Note 2 - Summary of Significant Accounting Policies
6 Months Ended
Sep. 30, 2014
Accounting Policies [Abstract]  
Note 2 - Summary of Significant Accounting Policies

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Use of Estimates

 

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America may require management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could then differ from those estimates. There are no such estimates or assumptions incorporated in the attached financial statements.

 

Office Space and Labor

 

The Company’s sole Officer and Director will provide the labor required to execute the business plan and supply the necessary office space and facilities for the initial period of operations. The Company will recognize the fair value of services and office space provided by our sole Officer and Director as contributed capital in accordance with ASC 225-10-S99-4. From inception (March 22, 2011) through September 30, 2014, the fair value of services and office space provided was estimated to be nil.

 

Net Income or (Loss) Per Share of Common Stock

 

The Company follows financial accounting standards, which provide for “basic” and “diluted” earnings per share. Basic earnings per share is computed by dividing income or loss available to common shareholders by the weighted average shares outstanding; basic and diluted, for the period. Diluted earnings per share reflects the potential dilution due to other securities outstanding which could affect the number of common shares upon exercise. The Company has no potentially dilutive securities, such as options, warrants or convertible bonds, currently issued and outstanding. Consequently, basic and diluted shares are the same, as presented in the Statements of Operations.

 

Recently Enacted Accounting Standards

 

In June 2014, the Financial Accounting Standards Board issued Accounting Standard Update No. 2014-10 (“the ASU”). This update changes the requirements for disclosures as it relates to development stage entities. The ASU specifies that the ‘inception–to-date’ information is no longer required to be presented in the financial statements of a development stage entity. The amendments in the ASU are effective for annual reporting periods beginning after December 15, 2014 and interim periods therein, with early application permitted for any financial statements that have not yet been issued. The Company has elected to apply the amendments as of the three month period ended June 30, 2014.

 

XML 21 R3.htm IDEA: XBRL DOCUMENT v2.4.0.8
Balance Sheets (Parenthetical) (USD $)
Sep. 30, 2014
Mar. 31, 2014
Statement of Financial Position [Abstract]    
Preferred Stock, Par Value $ 0.001 $ 0.001
Preferred stock, par value $0.001, authorized 20,000,000 20,000,000
Preferred stock, par value $0.001, issued and outstanding 0 0
Common Stock, Par Value $ 0.001 $ 0.001
Common stock, par value $0.001, authorized 100,000,000 100,000,000
Common stock, par value $0.001, issued and outstanding 5,650,000 5,650,000
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Document and Entity Information
6 Months Ended
Sep. 30, 2014
Nov. 14, 2014
Document And Entity Information    
Entity Registrant Name Lightcollar, Inc.  
Entity Central Index Key 0001520118  
Document Type 10-Q  
Document Period End Date Sep. 30, 2014  
Amendment Flag false  
Current Fiscal Year End Date --03-31  
Is Entity a Well-known Seasoned Issuer? No  
Is Entity a Voluntary Filer? No  
Is Entity's Reporting Status Current? Yes  
Entity Filer Category Smaller Reporting Company  
Entity Common Stock, Shares Outstanding   5,650,000
Document Fiscal Period Focus Q2  
Document Fiscal Year Focus 2015  
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Statements of Operations (Unaudited) (USD $)
3 Months Ended 6 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Operating expenses        
Organization cost $ 0 $ 0 $ 0 $ 0
Professional fees 8,189 4,775 14,710 9,082
Memberships 0 8,000 0 8,000
General and administrative expenses 3,591 450 4,291 1,450
Total Operating Expenses 11,780 13,225 19,001 18,532
OTHER EXPENSES        
Interest expense 0 0 0 0
Total Other Expenses 0 0 0 0
Net loss $ (11,780) $ (13,225) $ (19,001) $ (18,532)
Net Loss per Share-Basic and Diluted $ 0 $ 0 $ 0 $ 0
Weighted Average Number of Common Shares Outstanding 5,650,000 5,650,000 5,650,000 5,650,000
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Note 3 - Loans From Stockholders (Details Narrative) (USD $)
Sep. 30, 2014
Mar. 31, 2014
Related Party Transactions [Abstract]    
Advances Payable to Stockholder $ 67,823 $ 56,535
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Note 2 - Summary of Significant Accounting Policies (Policies)
6 Months Ended
Sep. 30, 2014
Accounting Policies [Abstract]  
Use of Estimates

Use of Estimates

 

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America may require management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could then differ from those estimates. There are no such estimates or assumptions incorporated in the attached financial statements.

 

Office Space and Labor

Office Space and Labor

 

The Company’s sole Officer and Director will provide the labor required to execute the business plan and supply the necessary office space and facilities for the initial period of operations. The Company will recognize the fair value of services and office space provided by our sole Officer and Director as contributed capital in accordance with ASC 225-10-S99-4. From inception (March 22, 2011) through September 30, 2014, the fair value of services and office space provided was estimated to be nil.

 

Net Income or (Loss) Per Share of Common Stock

Net Income or (Loss) Per Share of Common Stock

 

The Company follows financial accounting standards, which provide for “basic” and “diluted” earnings per share. Basic earnings per share is computed by dividing income or loss available to common shareholders by the weighted average shares outstanding; basic and diluted, for the period. Diluted earnings per share reflects the potential dilution due to other securities outstanding which could affect the number of common shares upon exercise. The Company has no potentially dilutive securities, such as options, warrants or convertible bonds, currently issued and outstanding. Consequently, basic and diluted shares are the same, as presented in the Statements of Operations.

 

Recently Enacted Accounting Standards

Recently Enacted Accounting Standards

 

In June 2014, the Financial Accounting Standards Board issued Accounting Standard Update No. 2014-10 (“the ASU”). This update changes the requirements for disclosures as it relates to development stage entities. The ASU specifies that the ‘inception–to-date’ information is no longer required to be presented in the financial statements of a development stage entity. The amendments in the ASU are effective for annual reporting periods beginning after December 15, 2014 and interim periods therein, with early application permitted for any financial statements that have not yet been issued. The Company has elected to apply the amendments as of the three month period ended June 30, 2014.

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Note 4 - Stockholders' Deficit (Details Narrative) (USD $)
6 Months Ended 42 Months Ended
Sep. 30, 2014
Sep. 30, 2014
Mar. 31, 2014
Equity [Abstract]      
Stock issued for cash, shares, duration   5,650,000  
Stock issued for cash, amount, duration   $ 56,500  
Accumulated deficit (136,289) (136,289) (117,288)
Total Stockholders' Deficit (79,789) (79,789) (60,788)
Sale of stock for cash $ 0    
Issuance of common stock, shares 0    
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Note 5 - Going Concern (Details Narrative) (USD $)
Sep. 30, 2014
Mar. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Working capital $ (79,789) $ (60,788)
XML 28 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Statements of Cash Flows (Unaudited) (USD $)
6 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash flow from operating activities:    
Net loss $ (19,001) $ (18,532)
Changes in operating assets and liabilities    
Increase (decrease) in accounts payable 7,713 (150)
(Increase) in prepaid expenses 0 (2,000)
Net cash used in operating activities (11,288) (20,682)
Cash flow from investing activities: 0 0
Cash flow from financing activities:    
Loans from stockholders 11,288 20,073
Sale of stock for cash 0  
Net cash provided by financing activities 11,288 20,073
Net increase (decrease) in cash 0 (609)
Cash-Beginning of period 0 609
Cash-End of period $ 0 $ 0
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Note 5 - Going Concern
6 Months Ended
Sep. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Note 5 - Going Concern

NOTE 5 - GOING CONCERN

 

The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America, which contemplates continuation of the Company as a going concern. The Company has incurred an operating deficit since its inception, is in the development stage, has generated no operating revenue, and has negative working capital of $79,789 as of September 30, 2014. These items raise substantial doubt about the Company’s ability to continue as a going concern.

 

In view of these matters, realization of the assets of the Company is dependent upon the Company’s ability to meet its financial requirements through equity financing, loans from stockholders and sales of the Lightcollar pendants. These financial statements do not include adjustments relating to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue in existence.

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