0001574863-14-000002.txt : 20140124 0001574863-14-000002.hdr.sgml : 20140124 20140124161137 ACCESSION NUMBER: 0001574863-14-000002 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 9 CONFORMED PERIOD OF REPORT: 20131031 FILED AS OF DATE: 20140124 DATE AS OF CHANGE: 20140124 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Blue Fashion Corp. CENTRAL INDEX KEY: 0001574863 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-HELP SUPPLY SERVICES [7363] IRS NUMBER: 392079422 STATE OF INCORPORATION: NV FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 333-188119 FILM NUMBER: 14546190 BUSINESS ADDRESS: STREET 1: 2780 SO. JONES BLVD. STREET 2: #3752 CITY: LAS VEGAS STATE: NV ZIP: 89146 BUSINESS PHONE: 3102131390 MAIL ADDRESS: STREET 1: 2780 SO. JONES BLVD. STREET 2: #3752 CITY: LAS VEGAS STATE: NV ZIP: 89146 10-Q 1 bluefashion_10q2.htm CONVERTED BY EDGARWIZ Converted by EDGARwiz


U.S. SECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549

Form 10-Q


Mark One

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


For the quarterly period ended October 31, 2013


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


For the transition period from ______ to _______


Commission File No. 333-188119



BLUE FASHION CORP.

 (Exact name of registrant as specified in its charter)


Nevada

(State or Other Jurisdiction of Incorporation or Organization)

7114

(Primary Standard Industrial Classification Number)

EIN 39-2079422

 (IRS Employer

Identification Number)




 2780 So. Jones Blvd. #3752

Las Vegas, Nevada 89146

Telephone No.: (702) 605-4371

 (Address and telephone number of principal executive offices)

Indicate by checkmark whether the issuer: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.   Yes [X ]   No[   ]


1 Page

 


Indicate by check mark whether the registrant is a large accelerated filed, an accelerated filer, a non-accelerated filer, or a smaller reporting company.

Large accelerated filer [  ] Accelerated filer [   ] Non-accelerated filer [   ] Smaller reporting company [X]

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

Applicable Only to Issuer Involved in Bankruptcy Proceedings During the Preceding Five Years.

N/A

Indicate by checkmark whether the issuer has filed all documents and reports required to be filed by Section 12, 13 and 15(d) of the Securities Exchange Act of 1934 after the distribution of securities under a plan confirmed by a court.  Yes[   ]  No[ X  ]

Applicable Only to Corporate Registrants

Indicate the number of shares outstanding of each of the issuers classes of common stock, as of the most practicable date:

Class

Outstanding as of January 24, 2014

Common Stock: $0.001

6,545,000




PART 1   

FINANCIAL INFORMATION


Item 1

Financial Statements (Unaudited)

2

   

   Balance Sheets

3

      

   Statements of Operations

4


   Statements of Cash Flows

5


   Notes to Financial Statements

6

Item 2.   

Managements Discussion and Analysis of Financial Condition and Results of Operations

9

Item 3.   

Quantitative and Qualitative Disclosures About Market Risk

10

Item 4.

Controls and Procedures

10

PART II.

OTHER INFORMATION


Item 1   

Legal Proceedings

11

Item 2.  

Unregistered Sales of Equity Securities and Use of Proceeds

11

Item 3   

Defaults Upon Senior Securities

12

Item 4      

Mine safety disclosures

12

Item 5  

Other Information

12

Item 6      

Exhibits

12


Signatures

12

2 Page

BLUE FASHION CORP.

(A DEVELOPMENT STAGE COMPANY)CONDENSED BALANCE SHEETS


ASSETS


October 31, 2013



January 31, 2013



(Unaudited)




Current Assets






Cash and cash equivalents

$

16,313 



9,846 







Total Current Assets


16,313 



9,846 







Fixed Assets






Furniture and equipment


894 



1,050 







Total Fixed Assets


894 



1,050 







Total Assets

$

17,207 



10,896 







LIABILITIES AND STOCKHOLDERS EQUITY












Current Liabilities






Accrued expenses

$



Loan from director


6,623 



6,623 







Total Liabilities


6,623 



6,623 







Stockholders Equity






Common Stock, par value $0.001; 75,000,000 shares authorized, 6,545,000 and 5,000,000 shares issued and outstanding, respectively


6,545 



5,000 

Additional paid-in capital


13,305 



Deficit accumulated during the development stage


(9,266)



(727)







Total Stockholders Equity


10,584 



4,273 







Total Liabilities and Stockholders Equity

$

17,207 



10,896 








3 Page












The accompanying notes are an integral part of these financial statement





BLUE FASHION CORP.

(A DEVELOPMENT STAGE COMPANY)

CONDENSED STATEMENTS OF OPERATIONS (Unaudited)


 

 

Three months 

ended

 

Three months 

ended

 

Nine months 

ended

 

Period from

May 14, 2012 (Inception) through

 


Period from

May 14, 2012 (Inception)

through


 

 

October 31, 2013

 

October 31,

2012

 

October,

 2013

 

October 31, 2012

 


October 31, 2013


Revenues

 



-

























Expenses

 

 















Depreciation expense

 

 

52 






156 





156 


Business license and permits










381 



715 


Bank fees

 

 

442 






593 





605 


General and administrative

 

 






7,790 





7,790 



 

 















Total Expense

 

 

494 






8,539 



381 



9,266 



















LOSS FROM OPERATIONS



(494)






(8,539)



(381)



(9,266)



 

 















OTHER EXPENSES

 

 




























INCOME TAX EXPENSE

 

 












 

 















NET LOSS

 

 $

(494)






(8,539)



(381)



(9,266)



 

 















Basic and diluted net loss per common share

 

 $

(0.00)






(0.00)



(0.00)



(0.00)



 

 















Weighted-average number of common shares outstanding: Basic and diluted

 

 

6,108,370 



5,000,000



5,335,428 



5,000,000 



5,000,000 



















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



4 Page



BLUE FASHION CORP.

(A DEVELOPMENT STAGE COMPANY)

CONDENSED STATEMENTS OF CASH FLOWS (Unaudited)




Nine Months Ended

October 31, 2013



Period from

May 14, 2012 (Inception) to

October 31, 2012



Period from

May 14, 2012 (Inception) to

October 31, 2013


Cash flows from operating activities:










Net loss

$

(8,539)



(381)



(9,266)












Adjustments to reconcile net loss to net cash used in operating activities:










Depreciation


156 





156 












Net cash used in operating activities


(8,383)



(381)



(9,110)












Cash flows from investing activities:










Purchase of property and equipment






(1,050)












Net cash used in investing activities






(1,050)












Cash flows from financing activities:










Proceeds from related party payables




406 



6,623 


Common stock issued for cash


14,850 





19,850 












Net cash provided by financing activities


14,850 



406 



26,473 












Net increase (decrease) in cash


(6,467)



25 



16,313 












Cash, beginning of the period


9,846 






Cash, end of the period

$

16,313 



25 



16,313 












Supplemental disclosures of cash flow information










Cash paid for:










          Interest paid

$






          Income taxes paid

$
















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



5 Page

 


Blue Fashion Corp.

(A Development Stage Company)

Notes to Financial Statements

October 31, 2013



NOTE 1 - 0RGANIZATION AND NATURE OF BUSINESS


Blue Fashion Corp. was incorporated under the laws of the State of Nevada on May 14, 2012.  We are a development stage company in a business of providing exclusive agent services finding top models for fashion shows, television commercials, movies and magazines.


NOTE 2 - CONDENSED FINANCIAL STATEMENTS


The accompanying financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial positions, results of operations, and cash flows on October 31, 2013, and for all periods presented herein, have been made.


Certain information and footnote disclosures normally included in the financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted.  It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Companys January 31, 2013 audited financial statements.  The results of operations for the nine months ended October  31, 2013 are not necessarily indicative of the operating results for the full year.



NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES


Development Stage Company

The accompanying financial statements have been prepared in accordance with generally accepted accounting principles related to development stage companies. A development-stage company is one in which planned principal operations have not commenced or if its operations have commenced, there has been no significant revenues there from.


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.  


Accounting Basis

The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (GAAP accounting).  The Company has adopted an October 31 fiscal year end.


Cash and Cash Equivalents

The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company had $16,313 and $9,846 of cash as of October 31, 2013 and January 31, 2013, respectively.


Fair Value of Financial Instruments

The Companys financial instruments consist of cash and cash equivalents and amounts due to shareholder. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements.


Income Taxes

Income taxes are computed using the asset and liability method.  Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws.  A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.



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Use of Estimates

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 the financial statements and the reported amount of revenues and expenses during the reporting period.  Actual results could differ from those estimates.


Revenue Recognition

The Company recognizes revenue when products are fully delivered or services have been provided and collection is reasonably assured.


Stock-Based Compensation

Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718.  To date, the Company has not adopted a stock option plan and has not granted any stock options.


Basic Income (Loss) Per Share

Basic income (loss) per share is calculated by dividing the Companys net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Companys net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are no such common stock equivalents outstanding as of October 31, 2013.


Comprehensive Income

The Company has which established standards for reporting and display of comprehensive income, its components and accumulated balances.  When applicable, the Company would disclose this information on its Statement of Stockholders Equity.  Comprehensive income comprises equity except those resulting from investments by owners and distributions to owners. The Company has not had any significant transactions that are required to be reported in other comprehensive income.


Recent Accounting Pronouncements

Blue Fashion Corp. does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Companys results of operations, financial position or cash flow.


NOTE 4 - GOING CONCERN


The accompanying financial statements have been prepared in conformity with generally accepted accounting principles, which contemplate continuation of the Company as a going concern.  However, the Company had no revenues as of October 31, 2013.  The Company currently has limited working capital, and has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time.  


Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses.  The Company intends to position itself so that it may be able to raise additional funds through the capital markets. In light of managements efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern.


NOTE 5 - LOANS FROM DIRECTOR


On May 11, 2012, a director loaned the Company $381 to incorporate the Company.


On November 1, 2012, a director loaned the Company $167 to purchase business license and file initial list with Nevada Secretary of State.


On November 6, 2012, a director loaned the Company $5,000 for business expenses.




7 | Page



On January 23, 2013, a director loaned the Company $1,050 to purchase a Nikon D7000 digital SLR camera and an 18-55mm AF-S DX VR Nikon Zoom Lens.


The loans are unsecured, non-interest bearing and due on demand.


The balance due to the director was $6,623 as of October 31, 2013.



NOTE 6 - COMMON STOCK


The Company has 75,000,000, $0.001 par value shares of common stock authorized.


On January 2, 2013, the Company issued 5,000,000 shares of common stock for cash proceeds of $5,000 at $0.001 per share.


On October 25, 2013, the Company issued 1,545,000 shares of common stock for cash proceeds of $15,450 at $0.001 per share.


There were 6,545,000 shares of common stock issued and outstanding as of October 31, 2013.


NOTE 7 - COMMITMENTS AND CONTINGENCIES


The Company neither owns nor leases any real or personal property. An officer has provided office services without charge.  There is no obligation for the officer to continue this arrangement.  Such costs are immaterial to the financial statements and accordingly are not reflected herein.  The officers and directors are involved in other business activities and most likely will become involved in other business activities in the future.


NOTE 8 - SUBSEQUENT EVENTS


In accordance with SFAS 165 (ASC 855-10) the Company has analyzed its operations subsequent to October 31, 2013 to the date these financial statements were issued, and has determined that it does not have any material subsequent events to disclose in these financial statements.






8 | Page



FORWARD LOOKING STATEMENTS


Statements made in this Form 10-Q that are not historical or current facts are "forward-looking statements" made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 (the "Act") and Section 21E of the Securities Exchange Act of 1934. These statements often can be identified by the use of terms such as "may," "will," "expect," "believe," "anticipate," "estimate," "approximate" or "continue," or the negative thereof. We intend that such forward-looking statements be subject to the safe harbors for such statements. We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management's best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events.



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




EMPLOYEES AND EMPLOYMENT AGREEMENTS


At present, we have no employees other than our officer and director.  We presently do not have pension, health, annuity, insurance, stock options, profit sharing or similar benefit plans; however, we may adopt such plans in the future.  There are presently no personal benefits available to any officers, directors or employees.



Results of Operation


Our financial statements have been prepared assuming that we will continue as a going concern and, accordingly, do not include adjustments relating to the recoverability and realization of assets and classification of liabilities that might be necessary should we be unable to continue in operation.

We expect we will require additional capital to meet our long term operating requirements. We expect to raise additional capital through, among other things, the sale of equity or debt securities.


Three And Nine Months Period Ended October 31, 2013 and 2012


Our net loss for the three months periods ended October 31, 2013 was $494. Our net loss for nine months period ended October 31, 2013 and 2012 was $ 8,539 and $ 381.  During the three and nine month periods ended October 31, 2013 we have not generated any revenue.


During the three month period ended October 31, 2013, our operating expenses were bank service charges, depreciation explenses, business license and permits and general and administrative expenses..  During the nine months period ended



Liquidity and Capital Resources


Three Months Period Ended October 31, 2013  


As at October 31, 2013, our total assets were $17,207 compared to $10,896 in total assets at January 31, 2012. Total assets were comprised of $16,313 in cash and furniture and equipment expenses of $894. As at October 31, 2013, our



9 | Page



current liabilities were $6,623 as of October 31, 2013 and 2012. Stockholders equity was $ 10,584 as of October 31, 2013 compare to stockholders' equity of $4,273 as of January 31, 2012.   


Cash Flows from Operating Activities


We have not generated positive cash flows from operating activities. For the nine months period ended October 31, 2013, net cash flows used in operating activities was $(8,383). For the period from inception (May 14, 2012) to October 31, 2012, net cash flows used in operating activities was $(381)For the period from inception (May 14, 2012) to October 31, 2013, net cash flows from operating activities was $(9,110).


Cash Flows from Investing Activities


For the nine months period ended October 31, 2013 and 2012, we did not generate any cash flows used in investing activities.  For the period from inception (May 14, 2012) to October 31, 2013, net cash flows from investing activities was $ (1,050).

Cash Flows from Financing Activities

We have financed our operations primarily from either advancements or the issuance of equity. For the nine months period ended October 31, 2013 and 20, cash flow for financing activities was $14,850. For the period from inception (May 14, 2012) to October 31, 2012 cash flows form finance activities were $406 For the period from inception (May 14, 2012) to October 31, 2013, net cash provided by financing activities was $26,473 received from proceeds from issuance of common stock and director loan.


Plan of Operation and Funding


We expect that working capital requirements will continue to be funded through a combination of our existing funds and further issuances of securities. Our working capital requirements are expected to increase in line with the growth of our business.


Existing working capital, further advances and debt instruments, and anticipated cash flow are expected to be adequate to fund our operations over the next three months. We have no lines of credit or other bank financing arrangements. Generally, we have financed operations to date through the proceeds of the private placement of equity and debt instruments. In connection with our business plan, management anticipates additional increases in operating expenses and capital expenditures relating to: (i) acquisition of inventory; (ii) developmental expenses associated with a start-up business; and (iii) marketing expenses. We intend to finance these expenses with further issuances of securities, and debt issuances. Thereafter, we expect we will need to raise additional capital and generate revenues to meet long-term operating requirements. Additional issuances of equity or convertible debt securities will result in dilution to our current shareholders. Further, such securities might have rights, preferences or privileges senior to our common stock. Additional financing may not be available upon acceptable terms, or at all. If adequate funds are not available or are not available on acceptable terms, we may not be able to take advantage of prospective new business endeavors or opportunities, which could significantly and materially restrict our business operations. We will have to raise additional funds in the next twelve months in order to sustain and expand our operations. We currently do not have a specific plan of how we will obtain such funding; however, we anticipate that additional funding will be in the form of equity financing from the sale of our common stock. We have and will continue to seek to obtain short-term loans from our directors, although no future arrangement for additional loans has been made. We do not have any agreements with our directors concerning these loans. We do not have any arrangements in place for any future equity financing.








10 | Page



Off-Balance Sheet Arrangements


As of the date of this Quarterly Report, we do not have any offbalance 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 investors.


Going Concern


The independent auditors' review report accompanying our January 31, 2012 financial statements contained an explanatory paragraph expressing substantial doubt about our ability to continue as a going concern. The financial statements have been prepared "assuming that we will continue as a going concern," which contemplates that we will realize our assets and satisfy our liabilities and commitments in the ordinary course of business.


ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.


No report required.



ITEM 4. CONTROLS AND PROCEDURES


Our management is responsible for establishing and maintaining a system of disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act) that is designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commissions rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuers management, including its principal executive officer or officers and principal financial officer or officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.


An evaluation was conducted under the supervision and with the participation of our management of the effectiveness of the design and operation of our disclosure controls and procedures as of October 31, 2013. Based on that evaluation, our management concluded that our disclosure controls and procedures were not effective as of such date to ensure that information required to be disclosed in the reports that we file or submit under the Exchange Act, is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms. Such officer also confirmed that there was no change in our internal control over financial reporting during the three-month period ended October 31, 2013 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.




PART II. OTHER INFORMATION



ITEM 1. LEGAL PROCEEDINGS


Management is not aware of any legal proceedings contemplated by any governmental authority or any other party involving us or our properties. As of the date of this Quarterly Report, no director, officer or affiliate is (i) a party adverse to us in any legal proceeding, or (ii) has an adverse interest to us in any legal proceedings. Management is not aware of any other legal proceedings pending or that have been threatened against us or our properties.



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




11 | Page



No report required.


ITEM 3. DEFAULTS UPON SENIOR SECURITIES


No report required.



ITEM 4. MINE SAFETY DISCLOSURES


Not applicable.



ITEM 5. OTHER INFORMATION


No report required.


 

ITEM 6. EXHIBITS


Exhibits:



31.1 Certification of Chief Executive Officer pursuant to Securities Exchange Act of 1934 Rule 13a-14(a) or 15d-14(a).


31.2 Certification of Chief Financial Officer pursuant to Securities Exchange Act of 1934 Rule 13a-14(a) or 15d-14(a).


32.1 Certifications pursuant to Securities Exchange Act of 1934 Rule 13a-14(b) or 15d-14(b) and 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes- Oxley Act of 2002.



SIGNATURES


In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.



Blue Fashion Corp.


Dated: January 24, 2014

By: /s/ Bojana Banjac


Bojana Banjac, President and Chief Executive Officer and Chief Financial Officer


















12 | Page



EX-31 2 cert_ex31.htm CONVERTED BY EDGARWIZ Converted by EDGARwiz

302 CERTIFICATION




I, Bojana Banjac, certify that:


         1. I have reviewed this quarterly report on Form 10-Q of Blue Fashion Corp.;


         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. I am 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 me by others within those entities, particularly during the period in which this report is being prepared;


      b.  Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of


financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;


      c.  Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report my conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and


      d.  Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter (the registrants fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and


         5. I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the registrants auditors and the audit committee of the registrants 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: January 24, 2014

/s/Bojana Banjac

Bojana Banjac

Chief Executive Officer

Chief Financial Officer




EX-32 3 cert_ex32.htm CONVERTED BY EDGARWIZ Converted by EDGARwiz





CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002


The undersigned officer of Blue Fashion Corp. (the "Company"), hereby certifies, to such officer's knowledge, that the Company's Quarterly Report on Form 10-Q for the quarter ended October 31, 2013 (the "Report") fully complies with the requirements of Section 13(a) of the Securities Exchange Act of 1934 and that the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.




/s/Bojana Banjac

Bojana Banjac

Chief Executive Officer

Chief Financial Officer



 

January 24, 2014





EX-101.INS 4 blue-20131031.xml XBRL INSTANCE DOCUMENT 894 1050 17207 10896 6623 6623 6623 6623 6545 5000 13305 0 -9266 -727 10584 4273 6545000 5000000 17207 10896 0.001 0.001 75000000 75000000 6545000 5000000 0 0 0 52 156 156 0 0 0 0 0 0 381 715 0 0 0 0 0 0 0 7790 7790 0 442 0 593 605 494 0 8539 381 9266 -494 0 -8539 -381 -9266 0 0 0 0 0 -494 0 -8539 -381 -9266 0 0 0 5000000 5000000 -8539 -381 -9266 156 156 0 0 -8383 -381 -9110 -1050 0 0 0 -1050 14850 0 19850 0 0 0 406 6623 14850 406 26473 -6467 25 16313 9846 0 25 16313 <!--egx--><p style='margin:0in;margin-bottom:.0001pt'><b>NOTE 1 - 0RGANIZATION AND NATURE OF BUSINESS</b></p> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>Blue Fashion Corp. was incorporated under the laws of the State of Nevada on May 14, 2012. &nbsp;We are a development stage company in a business of providing exclusive agent services finding top models for fashion shows, television commercials, movies and magazines.</p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b>NOTE 2 - CONDENSED FINANCIAL STATEMENTS</b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>The accompanying financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial positions, results of operations, and cash flows on October 31, 2013, and for all periods presented herein, have been made.</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>Certain information and footnote disclosures normally included in the financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted.&#160; It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company&#146;s January 31, 2013 audited financial statements.&#160; The results of operations for the nine months ended October&#160; 31, 2013 are not necessarily indicative of the operating results for the full year.</p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt'><b>NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</b></p> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%'><u><font style='line-height:115%'>Development Stage Company</font></u></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 accompanying financial statements have been prepared in accordance with generally accepted accounting principles related to development stage companies. A development-stage company is one in which planned principal operations have not commenced or if its operations have commenced, there has been no significant revenues there from.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><u>Basis of Presentation</u></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>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; </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><u>Accounting Basis</u></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (&#147;GAAP&#148; accounting).&nbsp;&nbsp;The Company has adopted an October 31 fiscal year end.</p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:-1.0pt;text-autospace:none'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:-1.0pt;text-autospace:none'><u><font style='letter-spacing:-.1pt'>Cash</font></u><u> and Cash <font style='letter-spacing:-.15pt'>E</font>q<font style='letter-spacing:-.1pt'>ui</font><font style='letter-spacing:-.15pt'>v</font>a<font style='letter-spacing:-.1pt'>lents</font></u></p> <p style='margin:0in;margin-bottom:.0001pt;layout-grid-mode:line;text-align:justify'><font style='letter-spacing:-.1pt'>T</font>h<font style='letter-spacing:-.1pt'>e</font><font style='letter-spacing:.15pt'> </font><font style='letter-spacing:-.1pt'>C</font>o<font style='letter-spacing:-.2pt'>m</font>p<font style='letter-spacing:-.1pt'>a</font>ny<font style='letter-spacing:.1pt'> </font><font style='letter-spacing:-.1pt'>c</font>o<font style='letter-spacing:-.1pt'>nsi</font>d<font style='letter-spacing:-.1pt'>ers</font><font style='letter-spacing:.15pt'> </font><font style='letter-spacing:-.1pt'>all</font><font style='letter-spacing:.15pt'> </font>h<font style='letter-spacing:-.1pt'>i</font>gh<font style='letter-spacing:-.1pt'>ly</font><font style='letter-spacing:.15pt'> </font><font style='letter-spacing:-.1pt'>li</font>qu<font style='letter-spacing:-.15pt'>i</font>d<font style='letter-spacing:.15pt'> </font><font style='letter-spacing:-.1pt'>inves</font>t<font style='letter-spacing:-.2pt'>m</font><font style='letter-spacing:-.1pt'>e</font>n<font style='letter-spacing:-.1pt'>ts</font><font style='letter-spacing:.15pt'> </font><font style='letter-spacing:-.1pt'>wit</font>h<font style='letter-spacing:.15pt'> </font><font style='letter-spacing:-.1pt'>t</font>h<font style='letter-spacing:-.1pt'>e</font><font style='letter-spacing:.15pt'> </font><font style='letter-spacing:-.1pt'>ori</font>g<font style='letter-spacing:-.15pt'>i</font>n<font style='letter-spacing:-.1pt'>a</font>l<font style='letter-spacing:.15pt'> </font><font style='letter-spacing:-.2pt'>m</font>atu<font style='letter-spacing:-.1pt'>ritie</font>s<font style='letter-spacing:.15pt'> </font><font style='letter-spacing:-.1pt'>o</font>f<font style='letter-spacing:.15pt'> </font><font style='letter-spacing:-.1pt'>thre</font>e<font style='letter-spacing:.1pt'> </font><font style='letter-spacing:-.2pt'>m</font>on<font style='letter-spacing:-.1pt'>t</font>hs<font style='letter-spacing:.2pt'> </font>or<font style='letter-spacing:.2pt'> </font><font style='letter-spacing:-.1pt'>les</font>s<font style='letter-spacing:.1pt'> </font><font style='letter-spacing:-.1pt'>to </font>be ca<font style='letter-spacing:-.15pt'>s</font>h <font style='letter-spacing:-.15pt'>e</font><font style='letter-spacing:-.1pt'>q</font>u<font style='letter-spacing:-.1pt'>i</font>v<font style='letter-spacing:-.15pt'>a</font><font style='letter-spacing:-.1pt'>le</font>n<font style='letter-spacing:-.1pt'>t</font>s. The Company had $16,313 and $9,846 of cash as of October 31, 2013 and January 31, 2013, respectively.</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify'><u>Fair Value of Financial Instruments</u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify'>The Company&#146;s financial instruments consist of cash and cash equivalents and amounts due to shareholder. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements.</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify'><u>Income Taxes</u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify'>Income taxes are computed using the asset and liability method.&#160; Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws.&#160; A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify'><u>Use of Estimates</u></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 the financial statements and the reported amount of revenues and expenses during the reporting 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%'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><u>Revenue Recognition</u></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>The Company recognizes revenue when products are fully delivered or services have been provided and collection is reasonably assured.</p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><u>Stock-Based Compensation</u></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718.&#160; To date, the Company has not adopted a stock option plan and has not granted any stock options.</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><u>Basic Income (Loss) Per Share</u></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>Basic income (loss) per share is calculated by dividing the Company&#146;s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company&#146;s net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are no such common stock equivalents outstanding as of October 31, 2013.</p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><u>Comprehensive Income</u></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>The Company has which established standards for reporting and display of comprehensive income, its components and accumulated balances.&#160; When applicable, the Company would disclose this information on its Statement of Stockholders&#146; Equity.&#160; Comprehensive income comprises equity except those resulting from investments by owners and distributions to owners. The Company has not had any significant transactions that are required to be reported in other comprehensive income.</p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%'><u><font style='line-height:115%'>Recent Accounting Pronouncements</font></u></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%'><font style='line-height:115%'>Blue Fashion Corp. does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company&#146;s results of operations, financial position or cash flow.</font></p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt'><b>NOTE 4 - GOING CONCERN</b></p> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>The accompanying financial statements have been prepared in conformity with generally accepted accounting principles, which contemplate continuation of the Company as a going concern.&#160; However, the Company had no revenues as of October 31, 2013.&#160; The Company currently has limited working capital, and has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time.&#160; </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses. &#160;The Company intends to position itself so that it may be able to raise additional funds through the capital markets. In light of management&#146;s efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern.</p> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt'><b>NOTE 5 - LOANS FROM DIRECTOR</b></p> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>On May 11, 2012, a director loaned the Company $381 to incorporate the Company. </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>On November 1, 2012, a director loaned the Company $167 to purchase business license and file initial list with Nevada Secretary of State.</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>On November 6, 2012, a director loaned the Company $5,000 for business expenses.</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>On January 23, 2013, a director loaned the Company $1,050 to purchase a Nikon D7000 digital SLR camera and an 18-55mm AF-S DX VR Nikon Zoom Lens.</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>The loans are unsecured, non-interest bearing and due on demand.</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>The balance due to the director was $6,623 as of October 31, 2013.</p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt'><b>NOTE 6 - COMMON STOCK</b></p> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>The Company has 75,000,000, $0.001 par value shares of common stock authorized.</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>On January 2, 2013, the Company issued 5,000,000 shares of common stock for cash proceeds of $5,000 at $0.001 per share.</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>On October 25, 2013, the Company issued 1,545,000 shares of common stock for cash proceeds of $15,450 at $0.001 per share.</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>There were 6,545,000 shares of common stock issued and outstanding as of October 31, 2013.</p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt'><b>NOTE 7 - COMMITMENTS AND CONTINGENCIES</b></p> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>The Company neither owns nor leases any real or personal property. An officer has provided office services without charge.&#160; There is no obligation for the officer to continue this arrangement.&#160; Such costs are immaterial to the financial statements and accordingly are not reflected herein.&#160; The officers and directors are involved in other business activities and most likely will become involved in other business activities in the future.</p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt'><b>NOTE 8 - SUBSEQUENT EVENTS</b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>In accordance with SFAS 165 (ASC 855-10) the Company <strong><font style='font-weight:normal'>has analyzed its operations subsequent to October 31, 2013 to the date these financial statements were issued, and has determined that it does not have any material subsequent events to disclose in these financial statements.</font></strong></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> 10-Q 2013-10-31 false Blue Fashion Corp. 0001574863 --01-31 6545000 50000 Smaller Reporting Company Yes Yes No 2014 Q3 0001574863 2013-10-31 0001574863 2013-01-31 0001574863 2013-02-01 2013-10-31 0001574863 2013-08-01 2013-10-31 0001574863 2012-08-01 2012-10-31 0001574863 2012-05-14 2012-10-31 0001574863 2012-05-14 2013-10-31 0001574863 2012-10-31 0001574863 2012-05-13 iso4217:USD shares iso4217:USD shares EX-101.CAL 5 blue-20131031_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT EX-101.DEF 6 blue-20131031_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT EX-101.LAB 7 blue-20131031_lab.xml XBRL TAXONOMY EXTENSION LABELS LINKBASE DOCUMENT Note 7 - Commitments and Contingencies Note 6 - Common Stock Payments of Distributions to Affiliates Origination of Loans to Employee Stock Ownership Plans Proceeds from Issuance of Warrants Proceeds 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Attributable to Noncontrolling Interest Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest Accumulated Distributions in Excess of Net Income Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest {1} Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest Other Long-term Debt, Noncurrent Liabilities, Current Liabilities, Current Other Long-term Debt, Current Loans Payable, Current Prepaid Expense, Noncurrent Indefinite-Lived Intangible Assets (Excluding Goodwill) Deferred Costs, Current Accounts Receivable, Net, Current Entity Voluntary Filers Notes Payments of Debt Extinguishment Costs Repayment of Notes Receivable from Related Parties Payments to Acquire Businesses, Net of Cash Acquired Payments to Acquire Projects Increase (Decrease) in Mortgage Loans Held-for-sale Gain (Loss) on Sale of Property Plant Equipment Distributions Per General Partnership Unit Outstanding Net Income (Loss) Allocated to Limited Partners Weighted Average Number of Shares Outstanding, Diluted Net Income (Loss) Available to Common Stockholders, Basic Net Income (Loss) Available to Common Stockholders, Basic Other Preferred Stock Dividends and Adjustments Deferred Income Tax Expense (Benefit) Investment Income, Nonoperating {1} Investment Income, Nonoperating Real Estate Revenue, Net Preferred Stock, Shares Issued Postemployment Benefits Liability, Noncurrent Prepaid Pension Costs Other Long-term Investments Other Assets, Current Due from Related Parties, Current Entity Registrant Name Note 3 - Summary of Significant Accounting Policies Proceeds from (Payments for) Other Financing Activities Proceeds from Stock Plans Proceeds from Issuance of Shares under Incentive and Share-based Compensation Plans, Including Stock Options Payments to Acquire Investments Proceeds from Sale of Other Productive Assets Increase (Decrease) in Other Operating Liabilities Increase (Decrease) in Deferred Liabilities Statement of Cash 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Cash Provided by (Used in) Operating Activities Preferred Stock, Dividends, Per Share, Cash Paid Income (Loss) from Equity Method Investments Rental Income, Nonoperating Revenues Revenues Revenue from Related Parties Income Statement Receivable from Officers and Directors for Issuance of Capital Stock Accounts Payable and Accrued Liabilities, Noncurrent Deferred Revenue and Credits, Current Accrued Liabilities, Current Deferred Costs, Noncurrent Notes, Loans and Financing Receivable, Net, Current Entity Current Reporting Status Document and Entity Information: Proceeds from (Repurchase of) Equity Proceeds from Issuance or Sale of Equity Payment of Financing and Stock Issuance Costs Proceeds from (Repayments of) Lines of Credit Proceeds from Sale and Maturity of Other Investments Gain (Loss) on Contract Termination Deferred Income Taxes and Tax Credits Earnings Per Share, Basic and Diluted Earnings Per Share, Diluted Gain (Loss) on Sale of Interest in Projects Marketable Securities, 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Investment Income, Nonoperating Investment Income, Nonoperating Gain (Loss) on Disposition of Intangible Assets Marketable Securities, Unrealized Gain (Loss) Website Expense Asset Impairment Charges Partners' Capital, Including Portion Attributable to Noncontrolling Interest Deferred Revenue and Credits, Noncurrent Pension and Other Postretirement Defined Benefit Plans, Liabilities, Noncurrent Liabilities and Equity {1} Liabilities and Equity Assets Held-for-sale, Current Proceeds from Other Equity Proceeds from Issuance of Common Stock Proceeds from (Repurchase of) Redeemable Preferred Stock Payments for (Proceeds from) Other Investing Activities Payments to Acquire Interest in Subsidiaries and Affiliates Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities Excess Tax Benefit from Share-based Compensation, Operating Activities Recognition of Deferred Revenue Net Income (Loss), Per Outstanding Limited Partnership and General Partnership Unit, Basic Weighted Average General Partnership Units Outstanding Common Stock, Dividends, Per Share, Declared Provision for Income Taxes (Benefit) Interest Expense Nonoperating Income (Expense) Nonoperating Income (Expense) Investment Income, Net Bank fees Gain (Loss) Related to Litigation Settlement Other Amortization of Deferred Charges Capital Lease Obligations, Noncurrent Liabilities, Noncurrent {1} Liabilities, Noncurrent Other Liabilities, Current Capital Lease Obligations, Current Notes Payable, Current Interest and Dividends Payable, Current Finite-Lived Intangible Assets, Net Accounts Receivable, Gross, Noncurrent Assets, Current Assets, Current Assets {1} Assets Payments of Debt Restructuring Costs Proceeds from Sale and Collection of Lease Receivables Payments to Acquire Other Investments Proceeds from Sale of Productive Assets Payments to Acquire Equipment on Lease Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities Increase (Decrease) in Operating Assets Increase (Decrease) in Operating Assets Increase (Decrease) in Materials and Supplies Increase (Decrease) in Operating Assets {1} Increase (Decrease) in Operating Assets Increase (Decrease) in Operating Capital {1} Increase (Decrease) in Operating Capital Research and Development in Process Provision for Loan, Lease, and Other Losses Inventory Depreciation, Depletion and Amortization Net Income (Loss), Per Outstanding General Partnership Unit Net Income (Loss) Allocated to General Partners General Partner Distributions Gains (Losses) on Extinguishment of Debt Selling, General and Administrative Expense Preferred Stock, Shares Outstanding Other Liabilities, Noncurrent Payments for Repurchase of Warrants Proceeds from (Repayments of) Short-term Debt Proceeds from Divestiture of Businesses and Interests in Affiliates Payments to Acquire Intangible Assets Payments to Acquire Property, Plant, and Equipment Net Income (Loss), Per Outstanding Limited Partnership Unit, Basic Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest Marketable Securities, Gain (Loss) Gain (Loss) on Sale of Property Professional Fees {1} Professional Fees Depletion, Nonproduction Revenues {1} Revenues Common Stock, Shares Outstanding Common Stock, Shares Authorized Preferred Stock, Shares Authorized Additional Paid in Capital, Common Stock Accounts Payable, Current Liabilities, Current {1} Liabilities, Current Assets Assets Notes, Loans and Financing Receivable, Net, Noncurrent Deposits Assets, Current Derivative Instruments and Hedges, Assets Prepaid Expense, Current Entity Filer Category Note 5 - Loans From Director Proceeds from (Repayments of) Secured Debt Proceeds from Issuance of Long-term Debt Proceeds from Long-term Lines of Credit Proceeds from Sale and Collection of Other Receivables Proceeds from Sale and Collection of Loans Receivable Increase (Decrease) in Accounts Payable Gain (Loss) on Sales of Loans, Net Weighted Average Limited Partnership Units Outstanding, Diluted Income Tax Expense (Benefit) Income Tax Expense (Benefit) Deferred Other Tax Expense (Benefit) Cost-method Investments, Realized Gain (Loss) Stockholders' Equity, Number of Shares, Par Value and Other Disclosures Stockholders' Equity Attributable to Noncontrolling Interest Receivable from Shareholders or Affiliates for Issuance of Capital Stock Treasury Stock, Value Common Stock, value issued and outstanding Loan from director, Noncurrent Deposits Assets, Noncurrent Assets Held-for-sale, Long Lived Due from Related Parties, Noncurrent Marketable Securities, Noncurrent Note 4 - Going Concern Excess Tax Benefit from Share-based Compensation, Financing Activities Proceeds from Contributed Capital Proceeds from Issuance Initial Public Offering Net Cash Provided by (Used in) Financing Activities {1} Net Cash Provided by (Used in) Financing Activities Proceeds from Sale and Collection of Notes Receivable Payments to Acquire Restricted Investments Payments to Acquire Available-for-sale Securities Increase (Decrease) in Other Operating Assets {1} Increase (Decrease) in Other Operating Assets Increase (Decrease) in Receivables Adjustment of Warrants Granted for Services Provision for Doubtful Accounts Preferred Stock Dividends and Other Adjustments Preferred Stock Dividends and Other Adjustments Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense Royalty Income, Nonoperating Increase (Decrease) in Carrying Value of Assets Received as Consideration in Disposal of Business Business Licenses and Permits, Operating Amortization of Acquisition Costs Gross Profit Gross Profit Gains (Losses) on Sales of Assets Revenue from Grants Liabilities and Equity Liabilities and Equity Customer Advances or Deposits, Noncurrent Accrued Income Taxes, Noncurrent Deferred Tax Liabilities, Current Derivative Instruments and Hedges, Liabilities Deferred Compensation Liability, Current Other Short-term Borrowings Document Fiscal Year Focus Net Cash Provided by (Used in) Financing Activities Net Cash Provided by (Used in) Financing Activities Payments Related to Tax Withholding for Share-based Compensation Payments for Repurchase of Common Stock Proceeds from (Payments for) Deposits Applied to Debt Retirements Proceeds from (Repayments of) Notes Payable Proceeds from Long-term Capital Lease Obligations Net Cash Provided by (Used in) Operating Activities Net Cash Provided by (Used in) Operating Activities Increase (Decrease) in Asset Retirement Obligations Preferred Stock, Dividends Per Share, Declared Income Tax Expense (Benefit) {1} Income Tax Expense (Benefit) Nonoperating Gains (Losses) Gain (Loss) on Securitization of Financial Assets Amortization of Deferred Charges {1} Amortization of Deferred Charges Operating Expenses {1} Operating Expenses Other Cost of Operating Revenue Financial Services Costs Other Revenue, Net Line of Credit, Current Short-term Non-bank Loans and Notes Payable Short-term Bank Loans and Notes Payable Marketable Securities, Current Entity Well-known Seasoned Issuer Note 8 - Subsequent Events Payments for Repurchase of Other Equity Payments for Repurchase of Initial Public Offering Payments for Repurchase of Preferred Stock and Preference Stock Payments for (Proceeds from) Investments Issuance of Stock and Warrants for Services or Claims Income (Loss) from Equity Method Investments, Net of Dividends or Distributions Amortization Net Income (Loss) Net Income (Loss) Total Operating Expenses Total Operating Expenses General and Administrative Expense Depreciation, Nonproduction Cost of Services Licenses Revenue Common Stock, Value, Outstanding Deficit accumulated during the development stage (Accumulated Deficit) Deferred Tax Liabilities, Noncurrent Taxes Payable, Current Entity Public Float Document Period End Date Proceeds from Issuance of Preferred Stock and Preference Stock Proceeds from Collection of (Payments to Fund) Long-term Loans to Related Parties Proceeds from Sale of Property, Plant, and Equipment Increase (Decrease) in Income Taxes Payable, Net of Income Taxes Receivable Increase (Decrease) in Operating Liabilities Increase (Decrease) in Operating Liabilities Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest Gain (Loss) on Investments Sales Revenue, Services, Net Sales Revenue, Goods, Net Treasury Stock, Shares Liabilities Liabilities Advance Royalties, Noncurrent Other Assets, Noncurrent Goodwill Inventory, Noncurrent Cash and Cash Equivalents, at Carrying Value Cash and Cash Equivalents, at Carrying Value Cash and Cash Equivalents, at Carrying Value Assets, Current {1} Assets, Current Note 1 - 0rganization and Nature of Business Proceeds from (Repayments of) Other Debt Payments for (Proceeds from) Businesses and Interest in Affiliates Proceeds from Sale and Maturity of Marketable Securities Increase (Decrease) in Operating Capital Increase (Decrease) in Operating Capital Increase (Decrease) in Accrued Taxes Payable Increase (Decrease) in Accounts Payable and Accrued Liabilities Prepaid (Expense) Weighted Average Limited Partnership Units Outstanding, Basic Other Tax Expense (Benefit) Other Nonrecurring (Income) Expense Restructuring Charges Amortization of Intangible Assets Fees and Commissions Preferred Stock, Par Value Accumulated Other Comprehensive Income (Loss), Net of Tax Derivative Instruments and Hedges, Noncurrent Furniture and Equipment, Gross Entity Common Stock, Shares Outstanding Current Fiscal Year End Date Payments of Merger Related Costs, Financing Activities Origination of Notes Receivable from Related Parties Proceeds from Sale of Treasury Stock Proceeds from (Repayments of) Related Party Debt Proceeds from Issuance of Long-term Debt and Capital Securities, Net Payments to Acquire Mineral Rights Payments for Software Increase (Decrease) in Deferred Revenue and Customer Advances and Deposits Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities {1} Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities Weighted Average Number of Shares Outstanding, Basic Preferred Stock Dividends and Other Adjustments {1} Preferred Stock Dividends and Other Adjustments Nonoperating Income (Expense) {1} Nonoperating Income (Expense) Other Operating Income Other Depreciation and Amortization Research and Development Expense Notes Payable, Noncurrent Allowance for Doubtful Accounts Receivable, Noncurrent Assets, Noncurrent {1} Assets, Noncurrent Document Fiscal Period 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Note 4 - Going Concern
9 Months Ended
Oct. 31, 2013
Notes  
Note 4 - Going Concern

NOTE 4 - GOING CONCERN

 

The accompanying financial statements have been prepared in conformity with generally accepted accounting principles, which contemplate continuation of the Company as a going concern.  However, the Company had no revenues as of October 31, 2013.  The Company currently has limited working capital, and has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time. 

 

Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses.  The Company intends to position itself so that it may be able to raise additional funds through the capital markets. In light of management’s efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern.

 

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Note 3 - Summary of Significant Accounting Policies
9 Months Ended
Oct. 31, 2013
Notes  
Note 3 - Summary of Significant Accounting Policies

NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Development Stage Company

The accompanying financial statements have been prepared in accordance with generally accepted accounting principles related to development stage companies. A development-stage company is one in which planned principal operations have not commenced or if its operations have commenced, there has been no significant revenues there from.

 

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. 

 

Accounting Basis

The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (“GAAP” accounting).  The Company has adopted an October 31 fiscal year end.

 

Cash and Cash Equivalents

The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company had $16,313 and $9,846 of cash as of October 31, 2013 and January 31, 2013, respectively.

 

Fair Value of Financial Instruments

The Company’s financial instruments consist of cash and cash equivalents and amounts due to shareholder. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements.

 

Income Taxes

Income taxes are computed using the asset and liability method.  Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws.  A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.

Use of Estimates

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 the financial statements and the reported amount of revenues and expenses during the reporting period.  Actual results could differ from those estimates.

 

Revenue Recognition

The Company recognizes revenue when products are fully delivered or services have been provided and collection is reasonably assured.

 

Stock-Based Compensation

Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718.  To date, the Company has not adopted a stock option plan and has not granted any stock options.

 

Basic Income (Loss) Per Share

Basic income (loss) per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company’s net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are no such common stock equivalents outstanding as of October 31, 2013.

 

Comprehensive Income

The Company has which established standards for reporting and display of comprehensive income, its components and accumulated balances.  When applicable, the Company would disclose this information on its Statement of Stockholders’ Equity.  Comprehensive income comprises equity except those resulting from investments by owners and distributions to owners. The Company has not had any significant transactions that are required to be reported in other comprehensive income.

 

Recent Accounting Pronouncements

Blue Fashion Corp. does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flow.

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Condensed Balance sheets (USD $)
Oct. 31, 2013
Jan. 31, 2013
Assets, Current    
Cash and Cash Equivalents, at Carrying Value $ 16,313 $ 9,846
Assets, Noncurrent    
Furniture and Equipment, Gross 894 1,050
Assets 17,207 10,896
Liabilities, Noncurrent    
Loan from director, Noncurrent 6,623 6,623
Liabilities 6,623 6,623
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest    
Common Stock, value issued and outstanding 6,545 5,000
Additional Paid in Capital, Common Stock 13,305 0
Deficit accumulated during the development stage (Accumulated Deficit) (9,266) (727)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest 10,584 4,273
Stockholders' Equity, Number of Shares, Par Value and Other Disclosures    
Common Stock, Shares Authorized 75,000,000 75,000,000
Common Stock, Shares Issued 6,545,000 5,000,000
Common Stock, Shares Outstanding 6,545,000 5,000,000
Liabilities and Equity $ 17,207 $ 10,896
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Note 1 - 0rganization and Nature of Business
9 Months Ended
Oct. 31, 2013
Notes  
Note 1 - 0rganization and Nature of Business

NOTE 1 - 0RGANIZATION AND NATURE OF BUSINESS

 

Blue Fashion Corp. was incorporated under the laws of the State of Nevada on May 14, 2012.  We are a development stage company in a business of providing exclusive agent services finding top models for fashion shows, television commercials, movies and magazines.

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Note 2 - Condensed Financial Statements
9 Months Ended
Oct. 31, 2013
Notes  
Note 2 - Condensed Financial Statements

NOTE 2 - CONDENSED FINANCIAL STATEMENTS

 

The accompanying financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial positions, results of operations, and cash flows on October 31, 2013, and for all periods presented herein, have been made.

 

Certain information and footnote disclosures normally included in the financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted.  It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s January 31, 2013 audited financial statements.  The results of operations for the nine months ended October  31, 2013 are not necessarily indicative of the operating results for the full year.

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Balance Sheet - Parenthetical (USD $)
Oct. 31, 2013
Jan. 31, 2013
Balance Sheets    
Common Stock, Par Value $ 0.001 $ 0.001
Common Stock, Shares Authorized 75,000,000 75,000,000
Common Stock, Shares Issued 6,545,000 5,000,000
Common Stock, Shares Outstanding 6,545,000 5,000,000
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Document and Entity Information (USD $)
9 Months Ended
Oct. 31, 2013
Jan. 31, 2013
Document and Entity Information:    
Entity Registrant Name Blue Fashion Corp.  
Document Type 10-Q  
Document Period End Date Oct. 31, 2013  
Amendment Flag false  
Entity Central Index Key 0001574863  
Current Fiscal Year End Date --01-31  
Entity Common Stock, Shares Outstanding 6,545,000  
Entity Public Float   $ 50,000
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 2014  
Document Fiscal Period Focus Q3  
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Condensed Statement of Operations (Unaudited) (USD $)
3 Months Ended 6 Months Ended 9 Months Ended 18 Months Ended
Oct. 31, 2013
Oct. 31, 2012
Oct. 31, 2012
Oct. 31, 2013
Oct. 31, 2013
Revenues          
Revenues $ 0 $ 0   $ 0  
Amortization of Deferred Charges          
Depreciation, Depletion and Amortization, Nonproduction 52     156 156
Professional Fees 0 0 0 0 0
Business Licenses and Permits, Operating     381 0 715
Website Expense 0 0 0 0 0
General and Administrative Expense 0 0   7,790 7,790
Selling, General and Administrative Expense       0  
Bank fees 442 0   593 605
Total Operating Expenses 494 0 381 8,539 9,266
Net loss from operations (494) 0 (381) (8,539) (9,266)
Income Tax Expense (Benefit)          
Provision for Income Taxes (Benefit) 0 0 0 0 0
Net Income (Loss) $ (494) $ 0 $ (381) $ (8,539) $ (9,266)
Earnings Per Share          
Earnings Per Share, Basic and Diluted $ 0 $ 0   $ 0  
Weighted Average Number of Shares Outstanding, Basic and Diluted 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000
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Note 7 - Commitments and Contingencies
9 Months Ended
Oct. 31, 2013
Notes  
Note 7 - Commitments and Contingencies

NOTE 7 - COMMITMENTS AND CONTINGENCIES

 

The Company neither owns nor leases any real or personal property. An officer has provided office services without charge.  There is no obligation for the officer to continue this arrangement.  Such costs are immaterial to the financial statements and accordingly are not reflected herein.  The officers and directors are involved in other business activities and most likely will become involved in other business activities in the future.

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Note 6 - Common Stock
9 Months Ended
Oct. 31, 2013
Notes  
Note 6 - Common Stock

NOTE 6 - COMMON STOCK

 

The Company has 75,000,000, $0.001 par value shares of common stock authorized.

 

On January 2, 2013, the Company issued 5,000,000 shares of common stock for cash proceeds of $5,000 at $0.001 per share.

 

On October 25, 2013, the Company issued 1,545,000 shares of common stock for cash proceeds of $15,450 at $0.001 per share.

 

There were 6,545,000 shares of common stock issued and outstanding as of October 31, 2013.

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Note 8 - Subsequent Events
9 Months Ended
Oct. 31, 2013
Notes  
Note 8 - Subsequent Events

NOTE 8 - SUBSEQUENT EVENTS

 

In accordance with SFAS 165 (ASC 855-10) the Company has analyzed its operations subsequent to October 31, 2013 to the date these financial statements were issued, and has determined that it does not have any material subsequent events to disclose in these financial statements.

 

 

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Condensed Statements of Cash Flows (unaudited) (USD $)
6 Months Ended 9 Months Ended 18 Months Ended
Oct. 31, 2012
Oct. 31, 2013
Oct. 31, 2013
Net Cash Provided by (Used in) Operating Activities      
Net loss for the period $ (381) $ (8,539) $ (9,266)
Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities      
Depreciation   156 156
Increase (Decrease) in Operating Capital      
Increase (Decrease) in Other Operating Assets and Liabilities, Net 0    
Expenses paid on behalf of the company by related parties 0    
Net Cash Provided by (Used in) Operating Activities (381) (8,383) (9,110)
Net Cash Provided by (Used in) Investing Activities      
Payments to Acquire Property, Plant, and Equipment     (1,050)
Prepaid expenses 0    
Net Cash Provided by (Used in) Investing Activities 0 0 (1,050)
Net Cash Provided by (Used in) Financing Activities      
Proceeds from Issuance of Common Stock 0 14,850 19,850
Repayment of Notes Receivable from Related Parties 0 0  
Proceeds from director loans 406 0 6,623
Net Cash Provided by (Used in) Financing Activities 406 14,850 26,473
Cash and Cash Equivalents, Period Increase (Decrease) 25 (6,467) 16,313
Cash and Cash Equivalents, at Carrying Value 0 9,846 0
Cash and Cash Equivalents, at Carrying Value $ 25 $ 16,313 $ 16,313
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Note 5 - Loans From Director
9 Months Ended
Oct. 31, 2013
Notes  
Note 5 - Loans From Director

NOTE 5 - LOANS FROM DIRECTOR

 

On May 11, 2012, a director loaned the Company $381 to incorporate the Company.

 

On November 1, 2012, a director loaned the Company $167 to purchase business license and file initial list with Nevada Secretary of State.

 

On November 6, 2012, a director loaned the Company $5,000 for business expenses.

 

On January 23, 2013, a director loaned the Company $1,050 to purchase a Nikon D7000 digital SLR camera and an 18-55mm AF-S DX VR Nikon Zoom Lens.

 

The loans are unsecured, non-interest bearing and due on demand.

 

The balance due to the director was $6,623 as of October 31, 2013.

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