Nevada
|
None
|
|
(State or other jurisdiction of incorporation or organization)
|
(I.R.S. Employer Identification No.)
|
Large accelerated filer
|
o
|
Accelerated filer
|
o
|
Non-accelerated filer
|
o
|
Smaller reporting company
|
x
|
(Do not check if a smaller reporting company)
|
Index
|
Page
|
||||
Part I. Financial Information | |||||
Item 1.
|
Financial Statements
|
||||
Balance Sheets as of September 30, 2013 (unaudited) and March 31, 2013
|
4 | ||||
Statement of Expenses for the three and six months ended September 30, 2013, and the period from March 22, 2013 (Inception) through September 30, 2013 (unaudited).
|
5 | ||||
Statement of Cash Flows for the six months ended September 30, 2013, and the period from March 22, 2013 (Inception) through June 30, 2013 (unaudited).
|
6 | ||||
Notes to Financial Statements (unaudited).
|
7 | ||||
Item 2.
|
Management’s Discussion and Analysis of Financial Condition and Results of Operations.
|
8 | |||
Item 3.
|
Quantitative and Qualitative Disclosures About Market Risk.
|
13 | |||
Item 4.
|
Controls and Procedures.
|
13 | |||
Part II. Other Information | |||||
Item 1.
|
Legal Proceedings.
|
14 | |||
Item 1A.
|
Risk Factors
|
14 | |||
Item 2.
|
Unregistered Sales of Equity Securities and Use of Proceeds.
|
14 | |||
Item 3.
|
Defaults Upon Senior Securities.
|
14 | |||
Item 4.
|
Mining Safety Disclosures.
|
14 | |||
Item 5.
|
Other Information.
|
14 | |||
Item 6.
|
Exhibits.
|
15 | |||
Signatures
|
16 |
September 30,
2013
|
March 31,
2013
|
|||||||
ASSET
|
||||||||
Current assets :
|
||||||||
Cash and cash equivalents
|
$ | 22,979 | $ | 19,980 | ||||
Total assets
|
$ | 22,979 | $ | 19,980 | ||||
LIABILITY AND STOCKHOLDERS’ DEFICIT
|
||||||||
Current liabilities :
|
||||||||
Accounts payable and accrued expenses
|
$ | 3,101 | $ | 2,000 | ||||
|
||||||||
Total current liability
|
3,101 | 2,000 | ||||||
Stockholders’ equity :
|
||||||||
Common stock, $0.001 par value; 75,000,000 shares authorized, 2,190,000 issued and 1,998,000 outstanding, respectively
|
2,190 | 1,998 | ||||||
Additional paid-in capital
|
36,990 | 17,982 | ||||||
Deficit accumulated during the development stage
|
(19,302 | ) | (2,000 | ) | ||||
Total stockholders’ equity
|
17,980 | 17,980 | ||||||
Total liability and stockholders' equity
|
$ | 22,979 | $ | 19,980 |
Three Months
Ended
September 30,
2013
|
Six Months
Ended
September 30,
2013
|
From the Period from March 22, 2013 (Inception) to September 30,
2013
|
||||||||||
OPERATING EXPENSES
|
||||||||||||
Professional fees
|
$ | 6,200 | $ | 14,964 | $ | 16,964 | ||||||
General & administrative
|
1,376 | 2,338 | 2,338 | |||||||||
Total Operating Expense
|
7,576 | 17,302 | 19,302 | |||||||||
NET LOSS
|
$ | (7,576 | ) | $ | (17,302 | ) | $ | (19,302 | ) | |||
BASIC AND DILUTED NET LOSS PER SHARE
|
$ | (0.00 | ) | $ | ( 0.01 | ) | ||||||
BASIC AND DILUTED WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING
|
2,010,948 | 2,004,509 |
Six Months
Ended
September 30,
2013
|
For the Period from March 22, 2013 (Inception) to September 30,
2013
|
|||||||
CASH FLOWS FROM OPERATING ACTIVITIES
|
||||||||
Net loss for the period
|
$ | (17,302 | ) | $ | (19,302 | ) | ||
Adjustments to reconcile net loss to net cash provided from operating activities
|
||||||||
Changes in operating assets and liabilities
|
||||||||
Accounts payable and accrued liabilities
|
1,101 | 3,101 | ||||||
Net cash used in operating activities
|
(16,201 | ) | (16,201 | ) | ||||
CASH FLOWS FROM FINANCING ACTIVITY
|
||||||||
Proceeds from sale of stock
|
19,200 | 39,180 | ||||||
|
||||||||
Net cash provided by financing activity
|
19,200 | 39,180 | ||||||
Net increase (decrease) in cash and cash equivalents
|
2,999 | 22,979 | ||||||
Cash – opening
|
19,980 | - | ||||||
Cash – closing
|
$ | 22,979 | $ | 22,979 |
25% of
|
50% of
|
75% of
|
100% of
|
|||||||||||||
shares sold
|
shares sold
|
shares sold
|
shares sold
|
|||||||||||||
Gross Proceeds from this Offering (1):
|
$ | 16,258.33 | $ | 32,516.67 | $ | 48,775.00 | $ | 65,033.33 | ||||||||
Employees Salary
|
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 3,333.33 | ||||||||
Advertising
|
$ | 0.00 | $ | 0.00 | $ | 3,000.00 | $ | 8,000.00 | ||||||||
Marketing & Company collateral design
|
$ | 0.00 | $ | 1,000.00 | $ | 1,500.00 | $ | 3,000.00 | ||||||||
Design of Logo certs
|
$ | 0.00 | $ | 0.00 | $ | 2,000.00 | $ | 5,500.00 | ||||||||
Printing
|
$ | 0.00 | $ | 1,000.00 | $ | 1,000.00 | $ | 2,000.00 | ||||||||
Software Development/ web design
|
$ | 500.00 | $ | 12,000.00 | $ | 13,000.00 | $ | 14,000.00 | ||||||||
Software Purchase (Development)
|
$ | 0.00 | $ | 2,400.00 | $ | 2,400.00 | $ | 2,400.00 | ||||||||
Co-location & backup/ web hosting
|
$ | 120.00 | $ | 1,200.00 | $ | 2,400.00 | $ | 2,400.00 | ||||||||
Office Rent
|
$ | 0.00 | $ | 0.00 | $ | 2,400.00 | $ | 2,400.00 | ||||||||
Office Equipment + SW
|
$ | 0.00 | $ | 0.00 | $ | 1,500.00 | $ | 2,500.00 | ||||||||
Offices expenses
|
$ | 250.00 | $ | 500.00 | $ | 1,400.00 | $ | 1,800.00 | ||||||||
Telephone + LD fees
|
$ | 250.00 | $ | 750.00 | $ | 1,400.00 | $ | 1,500.00 | ||||||||
Unaccounted expenses
|
$ | 0.00 | $ | 500.00 | $ | 1,200.00 | $ | 1,200.00 | ||||||||
Accountant
|
$ | 3,000.00 | $ | 1,000.00 | $ | 3,000.00 | $ | 3,000.00 | ||||||||
Auditor
|
$ | 6,000.00 | $ | 6,000.00 | $ | 6,000.00 | $ | 6,000.00 | ||||||||
Lawyer
|
$ | 3,000.00 | $ | 3,000.00 | $ | 3,000.00 | $ | 3,000.00 | ||||||||
Transfer Agent
|
$ | 3,000.00 | $ | 3,000.00 | $ | 3,000.00 | $ | 3,000.00 | ||||||||
Total Expenses
|
$ | 16,120.00 | $ | 32,350.00 | $ | 48,200.00 | $ | 65,033.33 |
·
|
Selection of the software contractor
|
·
|
Selection of the Graphic and web design interfaces
|
·
|
Completion of product specification
|
·
|
Selection of development tools
|
·
|
Selection of our collocation partner
|
·
|
Completion of high-level design for our product
|
·
|
Start working on “information only” web site
|
·
|
Investigate regulatory issues that may impact our operation in India and USA
|
·
|
Complete the “information only” web site
|
·
|
Completion of detailed design of our product
|
·
|
Start the design of the different web interfaces
|
·
|
Complete the development of the database
|
·
|
Review Milestones and adjust workloads
|
·
|
Investigate regulatory issues that may impact our operation in the European Union
|
·
|
Complete the design of the different web interfaces
|
·
|
Complete implementation of the different web interfaces
|
·
|
Start development of the development of the different components of the software
|
·
|
Design of the Certification Logos
|
·
|
Write the Terms of Services for vendors, customers and certification partners
|
·
|
Monitor the hits on the web site
|
·
|
Review Milestones and adjust workloads
|
·
|
Investigate regulatory issues that may impact our operation in Canada, Australia and New Zealand
|
·
|
Completion of Beta Software in month 10 and start of trial
|
·
|
Correct any deficiencies revealed during trial
|
·
|
Complete the certification partners training guides that they will follow in issuing the certificates
|
·
|
Start online advertising with Google Adwords
|
·
|
review Milestones timetable and adjust workload
|
·
|
interview and hire Sales Support Staff person to start in month eleven
|
·
|
Launch product in month 12
|
Exhibit
|
Description
|
|
3.1
|
Articles of Incorporation (1)
|
|
3.2
|
Bylaws (1)
|
|
31.1
|
Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
|
|
31.2
|
Certification of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
|
|
32.1
|
Certification of Principal Executive Officer and Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
|
|
101.INS *
|
XBRL Instance Document
|
|
101.SCH *
|
XBRL Taxonomy Extension Schema Document
|
|
101.CAL *
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
|
101.DEF *
|
XBRL Taxonomy Extension Definition Linkbase Document
|
|
101.LAB *
|
XBRL Taxonomy Extension Label Linkbase Document
|
|
101.PRE *
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
(1)
|
Filed and incorporated by reference to the Company’s Registration Statement on Form S-1 (File No. 333-188920), as filed with the Securities and Exchange Commission on May 29, 2013.
|
*
|
XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.
|
INTELLISENSE SOLUTIONS INC.
|
|||
(Name of Registrant)
|
|||
Date: November 13, 2013
|
By:
|
/s/ Ihsan Falou
|
|
Name:
|
Ihsan Falou
|
||
Title:
|
President (principal executive officer, principal accounting officer and principal financial officer)
|
Exhibit
|
Description
|
|
3.1
|
Articles of Incorporation (1)
|
|
3.2
|
Bylaws (1)
|
|
31.1
|
Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
|
|
31.2
|
Certification of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
|
|
32.1
|
Certification of Principal Executive Officer and Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
|
|
101.INS *
|
XBRL Instance Document
|
|
101.SCH *
|
XBRL Taxonomy Extension Schema Document
|
|
101.CAL *
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
|
101.DEF *
|
XBRL Taxonomy Extension Definition Linkbase Document
|
|
101.LAB *
|
XBRL Taxonomy Extension Label Linkbase Document
|
|
101.PRE *
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
(1)
|
Filed and incorporated by reference to the Company’s Registration Statement on Form S-1 (File No. 333-188920), as filed with the Securities and Exchange Commission on May 29, 2013.
|
*
|
XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.
|
Date: November 13, 2013
|
By:
|
/s/ Ihsan Falou
|
|
Ihsan Falou
|
|||
President (principal executive officer, principal accounting officer and principal financial officer)
|
Date: November 13, 2013
|
By:
|
/s/ Ihsan Falou
|
|
Ihsan Falou
|
|||
President (principal executive officer, principal accounting officer and principal financial officer)
|
Date: November 13, 2013
|
By:
|
/s/ Ihsan Falou
|
|
Ihsan Falou
|
|||
President (principal executive officer, principal accounting officer and principal financial officer)
|
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Statement of Expenses (Unaudited) (USD $)
|
3 Months Ended | 6 Months Ended | |
---|---|---|---|
Sep. 30, 2013
|
Sep. 30, 2013
|
Sep. 30, 2013
|
|
OPERATING EXPENSES | |||
Professional fees | $ 6,200 | $ 14,964 | $ 16,964 |
General & administrative | 1,376 | 2,338 | 2,338 |
Total Operating Expense | 7,576 | 17,302 | 19,302 |
NET LOSS | $ (7,576) | $ (17,302) | $ (19,302) |
BASIC AND DILUTED NET LOSS PER SHARE | $ 0.00 | $ (0.01) | |
BASIC AND DILUTED WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING | 2,010,948 | 2,004,509 |
Going Concern (Detail Narrative) (USD $)
|
3 Months Ended | 6 Months Ended | |
---|---|---|---|
Sep. 30, 2013
|
Sep. 30, 2013
|
Sep. 30, 2013
|
|
Notes to Financial Statements | |||
Net loss | $ 7,576 | $ 17,302 | $ 19,302 |
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M
Nature of Operations
|
6 Months Ended |
---|---|
Sep. 30, 2013
|
|
Notes to Financial Statements | |
Note 1 - Nature of Operations | INTELLISENSE SOLUTIONS INC. (the Company), incorporated in the state of Nevada on March 22, 2013, was formed to market vegetarian products over the Internet.
The company has limited operations and is considered to be in the development stage. |
Stockholders' Equity
|
6 Months Ended |
---|---|
Sep. 30, 2013
|
|
Notes to Financial Statements | |
Note 3 - Stockholders' Equity | Common Stock
During the six months ended September 30, 2013, the Company issued 192,000 shares for cash proceeds of $19,200. |
Stockholders' Equity (Details Narrative) (USD $)
|
6 Months Ended | |
---|---|---|
Sep. 30, 2013
|
Sep. 30, 2013
|
|
Notes to Financial Statements | ||
Stock issued, shares | 192,000 | |
Proceeds from sale of stock | $ 19,200 | $ 39,180 |
Subsequent Events
|
6 Months Ended |
---|---|
Sep. 30, 2013
|
|
Notes to Financial Statements | |
Note 4 - Subsequent Events | During October and November 2013, the Company sold 339,880 shares for cash proceeds of $33,988. |
Balance Sheets (Parenthetical) (USD $)
|
Sep. 30, 2013
|
Mar. 31, 2013
|
---|---|---|
Stockholders' equity : | ||
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, authorized | 75,000,000 | 75,000,000 |
Common stock, shares issued | 2,190,000 | 2,190,000 |
Common stock, shares outstanding | 1,998,000 | 1,998,000 |
Statement of Cash Flows (Unaudited) (USD $)
|
6 Months Ended | |
---|---|---|
Sep. 30, 2013
|
Sep. 30, 2013
|
|
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss for the period | $ (17,302) | $ (19,302) |
Changes in operating assets and liabilities: | ||
Accounts payable and accrued liabilities | 1,101 | 3,101 |
Net cash used in operating activities | (16,201) | (16,201) |
CASH FLOWS FROM FINANCING ACTIVITY | ||
Proceeds from sale of stock | 19,200 | 39,180 |
New Cash Provided by Financing Activity | 19,200 | 39,180 |
Net increase (decrease) in cash and cash equivalents | 2,999 | 22,979 |
Cash - opening | 19,980 | |
Cash - closing | $ 22,979 | $ 22,979 |
Balance Sheets (Unaudited) (USD $)
|
Sep. 30, 2013
|
Mar. 31, 2013
|
---|---|---|
Current assets : | ||
Cash and cash equivalents | $ 22,979 | $ 19,980 |
Total assets | 22,979 | 19,980 |
Current liabilities : | ||
Accounts payable and accrued expenses | 3,101 | 2,000 |
Total current liability | 3,101 | 2,000 |
Stockholders' equity : | ||
Common stock, $0.001 par value; 75,000,000 shares authorized, 2,190,000 issued and 1,998,000 outstanding, respectively | 2,190 | 1,998 |
Additional paid-in capital | 36,990 | 17,982 |
Deficit accumulated during the development stage | (19,302) | (2,000) |
Total stockholders' equity | 17,980 | 17,980 |
Total liability and stockholders' equity | $ 22,979 | $ 19,980 |
Going Concern
|
6 Months Ended |
---|---|
Sep. 30, 2013
|
|
Notes to Financial Statements | |
Note 2 - Going Concern | As of September 30, 2013, the accompanying audited financial statements have been presented on the basis that it is a going concern in the development stage, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business.
For the six months ended September 30, 2013 the Company has had a net loss of $17,302 consisting of incorporation fees and professional fees for the Company to initiate its SEC reporting requirements.
As of September 30, 2013, the Company has not emerged from the development stage. In view of these matters, recoverability of any asset amounts shown in the accompanying audited financial statements is dependent upon the Company's ability to begin operations and to achieve a level of profitability. Since inception, the Company has financed its activities principally from the sale of equity securities. The Company intends on financing its future development activities and its working capital needs largely from loans and the sale of public equity securities with some additional funding from other traditional financing sources, including term notes, until such time that funds provided by operations are sufficient to fund working capital requirements. |
Document and Entity Information
|
6 Months Ended | |
---|---|---|
Sep. 30, 2013
|
Nov. 08, 2013
|
|
Document And Entity Information | ||
Entity Registrant Name | Intellisense Solutions Inc. | |
Entity Central Index Key | 0001577445 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2013 | |
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 | 2,529,880 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2014 |