0001584754-15-000002.txt : 20150302 0001584754-15-000002.hdr.sgml : 20150302 20150302140542 ACCESSION NUMBER: 0001584754-15-000002 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 9 CONFORMED PERIOD OF REPORT: 20150131 FILED AS OF DATE: 20150302 DATE AS OF CHANGE: 20150302 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DANLAX, CORP. CENTRAL INDEX KEY: 0001584754 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 331229046 STATE OF INCORPORATION: NV FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 333-193467 FILM NUMBER: 15663696 BUSINESS ADDRESS: STREET 1: 2360 CORPORATE CIRCLE STE 400 CITY: HENDERSON STATE: NV ZIP: 89074-7722 BUSINESS PHONE: 7026054086 MAIL ADDRESS: STREET 1: 2360 CORPORATE CIRCLE STE 400 CITY: HENDERSON STATE: NV ZIP: 89074-7722 10-Q 1 forn10q13115klj.htm 10-Q 10-Q


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549


FORM 10-Q


 

 

[X]

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

 

FOR THE QUARTERLY PERIOD ENDED JANUARY 31, 2015

 

 

OR

 

 

 

[ ]

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



DANLAX, CORP.

 (Exact name of registrant as specified in its charter)



Nevada

(State or Other Jurisdiction of Incorporation or Organization)


33-1229046

IRS Employer Identification Number

7389

Primary Standard Industrial Classification Code Number



Danlax, Corp.

Transportnaya Street, 58-7

Nizhneudinsk, Russia 665106

Tel. (702) 605-4427


 (Address and telephone number of principal executive offices)


Check whether the issuer (1) 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 last 90 days.
YES [X] NO [ ]


Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer, “accelerated filer,” “non-accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.


Large accelerated filer [ ]

Accelerated filer [ ]

Non-accelerated filer [ ]

Smaller reporting company [X]


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


State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date: 11,740,000 as of March 2, 2015




1



 

TABLE OF CONTENTS




PART I FINANCIAL INFORMATION

 

ITEM 1

FINANCIAL STATEMENTS

3

   

 BALANCE SHEETS

3

      

 STATEMENTS OF OPERATIONS

4

 

 STATEMENTS OF CASH FLOWS

5

 

 NOTES TO FINANCIAL STATEMENTS

6

ITEM 2.   

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

9

ITEM 3.   

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

11

ITEM 4.

CONTROLS AND PROCEDURES

11

PART II OTHER INFORMATION

 

ITEM 1   

LEGAL PROCEEDINGS

12

ITEM 2.  

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

12

ITEM 3   

DEFAULTS UPON SENIOR SECURITIES

12

ITEM 4      

SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

12

ITEM 5  

OTHER INFORMATION

12

ITEM 6      

EXHIBITS

12

 

SIGNATURES

13




2




DANLAX, CORP.

 CONDENSED BALANCE SHEETS

 

JANUARY 31, 2015

JULY 31, 2014

ASSETS

(unaudited)

 

 

 

 

Current Assets

 

 

 

Cash

$                     5,166

$      9,521

 

Total current assets

5,166

9,521

 

 

 

Total assets                                                         

$                    5,166

$      9,521

LIABILITIES AND STOCKHOLDERS’ EQUITY

Liabilities

Current liabilities

 

Loans from Shareholders

$                      306

$        306

 

Accounts payable

300

-

Total liabilities

606

306

 

Stockholders’ Equity

  

Common stock, $0.001 par value, 75,000,000 shares authorized;

 

 

 

11,740,000 shares issued and outstanding

11,740

11,740

 

Additional paid-in-capital

24,660

24,660

 

Accumulated  deficit

(31,840)

(27,185)

Total stockholders’ equity

4,560

9,215

Total liabilities and stockholders’ equity

$                 5,166

$     9,521









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



3




DANLAX, CORP.

CONDENSED STATEMENTS OF OPERATIONS - (UNAUDITED)

 

THREE MONTHS ENDED JANUARY 31, 2015

THREE MONTHS ENDED JANUARY 31, 2014

SIX MONTHS ENDED JANUARY 31, 2014

SIX MONTHS ENDED JANUARY 31, 2014

Revenues

$                   -

$                   -

$                   -

$                      -

 

 

 

 

 

Operating Expenses

 

 

 

 

General and administrative expenses


1,314


1,042


4,655


5,556

Total operating expenses

1,314

1,042

4,655

5,556

 

 

 

 

 

Net loss from operations

(1,314)

(1,042)

(4,655)

(5,556)

Net loss  

$         (1,314)

$         (1,042)

$         (4,655)

$          (5,556)

Loss per common share – Basic

-

-

-

-

Weighted Average Number of Common Shares Outstanding-Basic

11,740,000

9,000,000

11,740,000

9,000,000












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



4




DANLAX, CORP.

CONDENSED STATEMENTS OF CASH FLOWS - (UNAUDITED)

 

SIX MONTHS ENDED JANUARY 31, 2015

SIX MONTHS ENDED JANUARY 31, 2014

Operating Activities

 

 

 

Net loss

$         (4,655)

$                  (5,556)

 

Accounts payable

300

 

 

Net cash provided by (used in) operating activities

(4,355)

(5,556)

Financing Activities

 

 

 

Sale of common stock

-

-

 

Loans from Shareholders

-

-

 

Net cash provided by financing activities

-

-


Net increase (decrease) in cash and equivalents

(4,355)

(5,556)

Cash and equivalents at beginning of the period

9,521

9,100

Cash and equivalents at end of the period

$          5,166

$                3,544

 

Supplemental cash flow information:

 

 

 

Cash paid for:

 

 

 

Interest                                                                                               

$                 -                          

$                       -

 

Taxes                                                                                           

$                 -

$                       -

Non-Cash Financing Activities

$                 -

$                       -






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



5



DANLAX, CORP.

NOTES TO THE UNAUDITED CONDENSED FINANCIAL STATEMENTS

JANUARY 31, 2015


NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES


Organization and Description of Business

DANLAX, CORP. (“the Company”) was incorporated under the laws of the State of Nevada, U.S. on April 10, 2013.  The Company is a start-up company.  Since inception through January 31, 2015 the Company has not generated any revenue and has accumulated losses of $31,840. Company is in the business of mobile games development.


Cash and Cash Equivalents

The Company considers all highly liquid instruments purchased with a maturity of three months or less to be cash equivalents to the extent the funds are not being held for investment purposes.


The Company's bank accounts are deposited in insured institutions. The funds are insured up to $250,000. At January 31, 2015 the Company's bank deposits did not exceed the insured amounts.


Basic Income (Loss) Per Share

The Company computes loss per share in accordance with “ASC-260”, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period.  Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive.


Dividends

The Company has not adopted any policy regarding payment of dividends. No dividends have been paid during any of the periods shown.


Income Taxes

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


Advertising Costs

The Company’s policy regarding advertising is to expense advertising when incurred. The Company incurred advertising expense of $0 during the period ended January 31, 2015.




6



DANLAX, CORP.

NOTES TO THE UNAUDITED CONDENSED FINANCIAL STATEMENTS

JANUARY 31, 2015


NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - CONTINUED


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 July 31 fiscal year end.


Impairment of Long-Lived Assets

The Company continually monitors events and changes in circumstances that could indicate carrying amounts of long-lived assets may not be recoverable. When such events or changes in circumstances are present, the Company assesses the recoverability of long-lived assets by determining whether the carrying value of such assets will be recovered through undiscounted expected future cash flows. If the total of the future cash flows is less than the carrying amount of those assets, the Company recognizes an impairment loss based on the excess of the carrying amount over the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or the fair value less costs to sell.


Recent accounting pronouncements

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


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.





7



DANLAX, CORP.

NOTES TO THE UNAUDITED CONDENSED FINANCIAL STATEMENTS

JANUARY 31, 2015


Stock-Based Compensation

As of January 31, 2015 the Company has not issued any stock-based payments to its employees. Stock-based compensation is accounted for at fair value in accordance with SFAS No. 123 and 123(R) (ASC 718).  To date, the Company has not adopted a stock option plan and has not granted any stock options.


Revenue Recognition

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


NOTE 2 – GOING CONCERN


The accompanying financial statements have been prepared in conformity with generally accepted accounting principle, which contemplate continuation of the Company as a going concern.  However, the Company had no revenues as of January 31, 2015.  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.


NOTE 3 – COMMON STOCK


The Company has 75,000,000 common shares authorized with a par value of $ 0.001 per share. On July 25, 2013, the Company issued 9,000,000 shares of its common stock at $0.001 per share for total proceeds of $9,000. In May 2014, the Company issued 2,740,000 shares of its common stock at $0.01 per share for total proceeds of $27,400


As of January 31, 2015, the Company had 11,740,000 shares issued and outstanding.


NOTE 4 – RELATED PARTY TRANSACTIONS


On July 25, 2013, the Company sold 9,000,000 shares of common stock at a price of $0.001 per share to its director.


Since inception through January 31, 2015, the Director loaned $306 to the Company to pay for incorporation expenses. This loan is non-interest bearing, due upon demand and unsecured.





NOTE 5 – SUBSEQUENT EVENTS


The Company has evaluated subsequent events from January 31, 2015 to the date the financial statements were issued and has determined that there are no items to disclose.

  





8





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


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.


General


Danlax, Corp. was incorporated in the State of Nevada on April 10, 2013 and established a fiscal year end of July 31. We do not have revenues, have minimal assets and have incurred losses since inception. We are a development-stage company formed to develop and sell mobile games for the Apple and Android platforms. We have recently started our operation. As of today, we have developed our business plan and developed concepts of our first mobile game. We just started to develop a concept for our first mobile game and there is no guarantee that we ever develop this game. We will develop other mobile games when/if our first mobile game is successful and we have available funds for further development.

  

A mobile game is a video game played on a feature phone, smartphone PDA, tablet computer, portable media player or calculator. Mobile games are played using the technology present on the device itself. For networked games, there are various technologies in common use. Examples include text message (SMS), multimedia message (MMS) or GPS location identification. However, there are non-networked applications that simply use the device platform to run the game software. Mobile games are usually downloaded via the mobile operator’s network, but in some cases are also loaded in the mobile handsets when purchased, via infrared connection, Bluetooth, or memory card.





9



RESULTS OF OPERATION


We are a development stage company and have not generated any revenue to date. We have incurred recurring losses to date. 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 MONTH PERIOD ENDED JANUARY 31, 2015 COMPARED TO THE THREE MONTH PERIOD ENDED JANUARY 31, 2014


Our net loss for the three month period ended January 31, 2015 was $1,314 compared to a net loss of $1,042 during the six month period ended January 31, 2014. During the six month period ended January 31, 2015 we did not generate any revenue.

 

During the three month period ended January 31, 2015, we incurred general and administrative expenses of $1,314 compared to $1,042 incurred during the three month period ended January 31, 2014.  General and administrative expenses incurred during the six month period ended January 31, 2015 were generally related to corporate overhead, financial and administrative contracted services, such as legal and accounting, developmental costs, and marketing expenses.


SIX MONTH PERIOD ENDED JANUARY 31, 2015 COMPARED TO THE SIX MONTH PERIOD ENDED JANUARY 31, 2014


Our net loss for the six month period ended January 31, 2015 was $4,655 compared to a net loss of $5,556 during the six month period ended January 31, 2014. During the six month period ended January 31, 2015 we did not generate any revenue.

 

During the six month period ended January 31, 2015, we incurred general and administrative expenses of $4,655 compared to $5,556 incurred during the six month period ended January 31, 2014.  General and administrative expenses incurred during the six month period ended January 31, 2015 were generally related to corporate overhead, financial and administrative contracted services, such as legal and accounting, developmental costs, and marketing expenses.



LIQUIDITY AND CAPITAL RESOURCES


SIX MONTH PERIOD ENDED JANUARY 31, 2015  


As of January 31, 2015, our current assets were $5,166 compared to $9,521 in current assets at July 31, 2014. Current assets were comprised of $5,166 in cash. As of January 31, 2015, our current liabilities were $606. Current liabilities were comprised of $306 in advances from a Director and $300 in accounts payable.

 

Stockholders’ equity was $4,560 as of January 31, 2015 compared to stockholder’s equity of $9,215 as of July 31, 2014.   



CASH FLOWS FROM OPERATING ACTIVITIES


We have not generated positive cash flows from operating activities. For the six month period ended January 31, 2015, net cash flows used in operating activities was $4,355 consisting of a net loss of $4,655 and accounts payable of $300. Net cash flows used in operating activities was $5,556 for the six month period ended January 31, 2014.


CASH FLOWS FROM FINANCING ACTIVITIES

We have financed our operations primarily from either advances from shareholders or the issuance of equity instruments. For the six month periods ended January 31, 2015 and 2014, we have not received any cash flow  provided by financing activities.  


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 six 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.



10



MATERIAL COMMITMENTS


As of January 31, 2015, we had no material commitments.


PURCHASE OF SIGNIFICANT EQUIPMENT


We do not intend to purchase any significant equipment during the next twelve months.



OFF-BALANCE SHEET ARRANGEMENTS


As of the date of this Quarterly Report, we do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.


GOING CONCERN


The independent auditors' audit report accompanying our July 31, 2014 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 Commission’s 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 issuer’s 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 January 31, 2015. Based on that evaluation, our management concluded that our disclosure controls and procedures were 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 six-month period ended January 31, 2015 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.





11



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


No report required.


ITEM 3. DEFAULTS UPON SENIOR SECURITIES


No report required.



ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS


No report required.



ITEM 5. OTHER INFORMATION


None.

 

ITEM 6. EXHIBITS


Exhibits:



31.1 Certification of Chief Executive Officer and 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.


101 Interactive data files pursuant to Rule 405 of Regulation S-T. 







12



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.


 

DANLAX, CORP.

Dated: March 2, 2015

By: /s/ Ivan Krikun

 

Ivan Krikun

President and Chief Executive Officer and Chief Financial Officer




13



EX-31 2 certification311.htm EXIBIT 31.1 exibit 31.1

Exhibit 31.1


CERTIFICATION


I, Ivan Krikun, President and Chief Executive Officer and Chief Financial Officer of DANLAX, CORP., certify that:


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


2.   Based on my knowledge, this report does not contain any untrue statement of 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 quarterly  report;


3.   Based on my  knowledge,  the  financial  statements,  and  other  financial  information included in this Report,  fairly present in all material respects the financial  condition,  results of operations and cash flows of the registrant as of, and for, the periods presented in this report;


4.   The  registrant's  other  certifying  officer(s) and I are  responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules  13a-15(e) and 15d- 15(e)) and internal  control over financial  reporting  (as  defined  in  Exchange  Act Rules  13a-15(f)  and 15d-15(f)) for the registrant and have:


     a)   designed  such  disclosure  controls  and  procedures,  or caused such  disclosure   control  and   procedures   to  be  designed   under  our  supervision,  to ensure  that  material  information  relating  to the registrant,  including its consolidated subsidiaries, is made known to us by others within those entities,  particularly during the period in which this report is being prepared;

     b)   designed such internal  control over  financial  reporting,  or caused such internal  control over  financial  reporting to be designed under  our  supervision,   to  provide  reasonable  assurance  regarding  the reliability  of financial  reporting and the  preparation of financial statements for external purposes in accordance with generally accepted  accounting principles;

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

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


5.   The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):


     a)   all significant  deficiencies and material weaknesses in the design or operation  of internal  control  over  financial  reporting  which are reasonably  likely to  adversely  affect the  registrant's  ability to record, process summarize and report financial information; and

     b)   any fraud, whether or not material,  that involves management or other employees who have a  significant  role in the  registrant's  internal control over financial reporting.


Date: March 2, 2015



/s/ Ivan Krikun

____________________________

Ivan Krikun, President,

Chief Executive Officer and Chief Financial Officer




EX-32 3 certification321.htm EXHIBIT 32.1 Exhibit 32.1

Exhibit 32.1


CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002



In  connection  with the  Quarterly  Report of DANLAX, CORP. (the "Company")  on Form 10-Q for the period  ended  January 31, 2015 as filed with the Securities  and  Exchange  Commission  on the date  hereof (the  "Report"),  the undersigned,  in the  capacities  and  on  the  dates  indicated  below,  hereby certifies pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to his knowledge:


     1.   The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and


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


Date:  March 2, 2015





/s/ Ivan Krikun

Ivan Krikun, President,

Chief Executive Officer and

Chief Financial Officer




EX-101.CAL 4 danlax-20150131_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT EX-101.DEF 5 danlax-20150131_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT EX-101.INS 6 danlax-20150131.xml XBRL INSTANCE DOCUMENT 10-Q 2015-01-31 false DANLAX, CORP. 0001584754 --07-31 11740000 Smaller Reporting Company No No No 2015 Q2 5166 9521 5166 9521 300 306 306 606 306 11740 11740 24660 24660 -31840 -27185 4560 9215 75000000 75000000 11740000 11740000 5166 9521 1314 1042 4655 5556 1314 1042 4655 5556 -1314 -1042 -4655 -5556 -1314 -1042 -4655 -5556 0 0 0 0 11740000 9000000 11740000 9000000 -4655 -5556 300 -4355 -5556 0 0 -4355 -5556 9521 9100 5166 3544 <!--egx--><p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'><b>NOTE 1 &#150; SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</b></p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>&nbsp;</p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'><u>Organization and Description of Business</u></p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>DANLAX, CORP. (&#147;the Company&#148;) was incorporated under the laws of the State of Nevada, U.S. on April 10, 2013. &nbsp;The Company is a start-up company. &nbsp;Since inception through January 31, 2015 the Company has not generated any revenue and has accumulated losses of $31,840. Company is in the business of mobile games development.</p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>&nbsp;</p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'><u>Cash and Cash Equivalents</u></p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>The Company considers all highly liquid instruments purchased with a maturity of three months or less to be cash equivalents to the extent the funds are not being held for investment purposes.</p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>&nbsp;</p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>The Company's bank accounts are deposited in insured institutions. The funds are insured up to $250,000. At January 31, 2015 the Company's bank deposits did not exceed the insured amounts.</p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>&nbsp;</p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'><u>Basic Income (Loss) Per Share</u></p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>The Company computes loss per share in accordance with &#147;ASC-260&#148;, &#147;Earnings per Share&#148; which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period. &nbsp;Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive.</p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>&nbsp;</p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'><u>Dividends</u></p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>The Company has not adopted any policy regarding payment of dividends. No dividends have been paid during any of the periods shown.</p> <p style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>&nbsp;</p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'><u>Income Taxes</u></p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>The Company follows the liability method of accounting for income taxes. &nbsp;Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences). &nbsp;The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.</p> <p style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>&nbsp;</p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'><u>Advertising Costs</u></p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>The Company&#146;s policy regarding advertising is to expense advertising when incurred. The Company incurred advertising expense of $0 during the period ended January 31, 2015.</p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>&nbsp;</p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>&nbsp;</p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'><u>Accounting Basis</u></p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>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 July 31 fiscal year end.</p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>&nbsp;</p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'><u>Impairment of Long-Lived Assets</u></p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>The Company continually monitors events and changes in circumstances that could indicate carrying amounts of long-lived assets may not be recoverable. When such events or changes in circumstances are present, the Company assesses the recoverability of long-lived assets by determining whether the carrying value of such assets will be recovered through undiscounted expected future cash flows. If the total of the future cash flows is less than the carrying amount of those assets, the Company recognizes an impairment loss based on the excess of the carrying amount over the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or the fair value less costs to sell.</p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>&nbsp;</p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'><u>Recent accounting pronouncements</u></p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>On June 10, 2014, the Financial Accounting Standards Board ("FASB") issued update ASU 2014-10, Development Stage Entities (Topic 915).&nbsp;&nbsp;&nbsp;Amongst other things, the amendments in this update removed the definition of development stage entity from Topic 915, thereby removing the distinction between development stage entities and other reporting entities from US GAAP.&nbsp; In addition, the amendments eliminate the requirements for development stage entities to (1) present inception-to-date information on the statements of income, cash flows and shareholders equity, (2) label the financial statements as those of a development stage entity;&nbsp; (3) disclose a description of the development stage activities in which the entity is engaged and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage.&nbsp; The amendments are effective for annual reporting periods beginning after December 31, 2014 and interim reporting periods beginning after December 15, 2015, however entities are permitted to early adopt for any annual or interim reporting period for which the financial statements have yet to be issued.&nbsp; The Company has elected to early adopt these amendments and accordingly have not labeled the financial statements as those of a development stage entity and have not presented inception-to-date information on the respective financial statements.</p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>&nbsp;</p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'><u>Use of Estimates</u></p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>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.&nbsp;&nbsp;Actual results could differ from those estimates.</p> <p align="center" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>&nbsp;</p> <p align="center" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>&nbsp;</p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'><u>Stock-Based Compensation</u></p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>As of January 31, 2015 the Company has not issued any stock-based payments to its employees. Stock-based compensation is accounted for at fair value in accordance with SFAS No. 123 and 123(R) (ASC 718). &nbsp;To date, the Company has not adopted a stock option plan and has not granted any stock options.</p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>&nbsp;</p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'><u>Revenue Recognition</u></p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>The Company will recognize revenue when products are fully delivered or services have been provided and collection is reasonably assured.</p> <p align="center" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>&nbsp;</p> <p style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'><b>NOTE 2 &#150; GOING CONCERN</b></p> <p style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>&nbsp;</p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>The accompanying financial statements have been prepared in conformity with generally accepted accounting principle, which contemplate continuation of the Company as a going concern. &nbsp;However, the Company had no revenues as of January 31, 2015. &nbsp;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. &nbsp;</p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>&nbsp;</p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>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&#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='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>&nbsp;</p> <p style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'><b>NOTE 3 &#150; COMMON STOCK</b></p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>&nbsp;</p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>The Company has 75,000,000 common shares authorized with a par value of $ 0.001 per share. On July 25, 2013, the Company issued 9,000,000 shares of its common stock at $0.001 per share for total proceeds of $9,000. In May 2014, the Company issued 2,740,000 shares of its common stock at $0.01 per share for total proceeds of $27,400</p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>&nbsp;</p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>As of January 31, 2015, the Company had 11,740,000 shares issued and outstanding.</p> <!--egx--><p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'><b>NOTE 4 &#150; RELATED PARTY TRANSACTIONS</b></p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>&nbsp;</p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>On July 25, 2013, the Company sold 9,000,000 shares&nbsp;of common stock at a price of $0.001 per share to its director.</p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>&nbsp;</p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;padding-right:8px;text-indent:0px;-webkit-text-stroke-width:0px'>Since inception through January 31, 2015, the Director loaned $306 to the Company to pay for incorporation expenses. This loan is non-interest bearing, due upon demand and unsecured.</p> <!--egx--><p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'><b>NOTE 5 &#150; SUBSEQUENT EVENTS</b></p> <p style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>&nbsp;</p> <p align="justify" style='white-space:normal;word-spacing:0px;text-transform:none;margin:0px;letter-spacing:normal;text-indent:0px;-webkit-text-stroke-width:0px'>The Company has evaluated subsequent events from January 31, 2015 to the date the financial statements were issued and has determined that there are no items to disclose.</p> 0001584754 2014-08-01 2015-01-31 0001584754 2015-01-31 0001584754 2014-07-31 0001584754 2014-11-01 2015-01-31 0001584754 2013-11-01 2014-01-31 0001584754 2013-08-01 2014-01-31 0001584754 2013-07-31 0001584754 2014-01-31 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EXTENSION SCHEMA DOCUMENT 200000 - Disclosure - Organization, Consolidation and Presentation of Financial Statements link:presentationLink link:definitionLink link:calculationLink 000010 - Statement - Statement of Financial Position link:presentationLink link:definitionLink link:calculationLink 000030 - Statement - Statement of Cash Flows link:presentationLink link:definitionLink link:calculationLink 000000 - Document - Document and Entity Information link:presentationLink link:definitionLink link:calculationLink 845000 - Disclosure - Related Party Disclosures link:presentationLink link:definitionLink link:calculationLink 000020 - Statement - Statement of Income link:presentationLink link:definitionLink link:calculationLink 870000 - Disclosure - Subsequent Events link:presentationLink link:definitionLink link:calculationLink 770000 - Disclosure - Income Taxes link:presentationLink link:definitionLink link:calculationLink EXCEL 10 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 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Statement of Financial Position (USD $)
Jan. 31, 2015
Jul. 31, 2014
Assets, Current    
Cash and Cash Equivalents, at Carrying Value $ 5,166us-gaap_CashAndCashEquivalentsAtCarryingValue $ 9,521us-gaap_CashAndCashEquivalentsAtCarryingValue
Assets, Current 5,166us-gaap_AssetsCurrent 9,521us-gaap_AssetsCurrent
Assets 5,166us-gaap_Assets 9,521us-gaap_Assets
Liabilities, Current    
Accounts Payable, Current 300us-gaap_AccountsPayableCurrent  
Liabilities, Noncurrent    
Due to Related Parties, Noncurrent 306us-gaap_DueToRelatedPartiesNoncurrent 306us-gaap_DueToRelatedPartiesNoncurrent
Liabilities 606us-gaap_Liabilities 306us-gaap_Liabilities
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest    
Common Stock, Value, Issued 11,740us-gaap_CommonStockValue 11,740us-gaap_CommonStockValue
Additional Paid in Capital, Common Stock 24,660us-gaap_AdditionalPaidInCapitalCommonStock 24,660us-gaap_AdditionalPaidInCapitalCommonStock
Retained Earnings (Accumulated Deficit) (31,840)us-gaap_RetainedEarningsAccumulatedDeficit (27,185)us-gaap_RetainedEarningsAccumulatedDeficit
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest 4,560us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest 9,215us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Stockholders' Equity, Number of Shares, Par Value and Other Disclosures    
Common Stock, Shares Authorized 75,000,000us-gaap_CommonStockSharesAuthorized 75,000,000us-gaap_CommonStockSharesAuthorized
Common Stock, Shares Issued 11,740,000us-gaap_CommonStockSharesIssued 11,740,000us-gaap_CommonStockSharesIssued
Liabilities and Equity $ 5,166us-gaap_LiabilitiesAndStockholdersEquity $ 9,521us-gaap_LiabilitiesAndStockholdersEquity
XML 14 R6.htm IDEA: XBRL DOCUMENT v2.4.1.9
Related Party Disclosures
6 Months Ended
Jan. 31, 2015
Related Party Disclosures:  
Related Party Transactions Disclosure

NOTE 4 – RELATED PARTY TRANSACTIONS

 

On July 25, 2013, the Company sold 9,000,000 shares of common stock at a price of $0.001 per share to its director.

 

Since inception through January 31, 2015, the Director loaned $306 to the Company to pay for incorporation expenses. This loan is non-interest bearing, due upon demand and unsecured.

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Subsequent Events
6 Months Ended
Jan. 31, 2015
Subsequent Events:  
Subsequent Events

NOTE 5 – SUBSEQUENT EVENTS

 

The Company has evaluated subsequent events from January 31, 2015 to the date the financial statements were issued and has determined that there are no items to disclose.

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Statement of Income (USD $)
3 Months Ended 6 Months Ended
Jan. 31, 2015
Jan. 31, 2014
Jan. 31, 2015
Jan. 31, 2014
Operating Expenses        
General and Administrative Expense $ 1,314us-gaap_GeneralAndAdministrativeExpense $ 1,042us-gaap_GeneralAndAdministrativeExpense $ 4,655us-gaap_GeneralAndAdministrativeExpense $ 5,556us-gaap_GeneralAndAdministrativeExpense
Operating Expenses 1,314us-gaap_OperatingExpenses 1,042us-gaap_OperatingExpenses 4,655us-gaap_OperatingExpenses 5,556us-gaap_OperatingExpenses
Operating Income (Loss) (1,314)us-gaap_OperatingIncomeLoss (1,042)us-gaap_OperatingIncomeLoss (4,655)us-gaap_OperatingIncomeLoss (5,556)us-gaap_OperatingIncomeLoss
Net Income (Loss) Attributable to Parent $ (1,314)us-gaap_NetIncomeLoss $ (1,042)us-gaap_NetIncomeLoss $ (4,655)us-gaap_NetIncomeLoss $ (5,556)us-gaap_NetIncomeLoss
Earnings Per Share        
Earnings Per Share, Basic $ 0us-gaap_EarningsPerShareBasic $ 0us-gaap_EarningsPerShareBasic $ 0us-gaap_EarningsPerShareBasic $ 0us-gaap_EarningsPerShareBasic
Weighted Average Number of Shares Outstanding, Basic 11,740,000us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 9,000,000us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 11,740,000us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 9,000,000us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
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Document and Entity Information
6 Months Ended
Jan. 31, 2015
Document and Entity Information:  
Entity Registrant Name DANLAX, CORP.
Document Type 10-Q
Document Period End Date Jan. 31, 2015
Amendment Flag false
Entity Central Index Key 0001584754
Current Fiscal Year End Date --07-31
Entity Common Stock, Shares Outstanding 11,740,000dei_EntityCommonStockSharesOutstanding
Entity Filer Category Smaller Reporting Company
Entity Current Reporting Status No
Entity Voluntary Filers No
Entity Well-known Seasoned Issuer No
Document Fiscal Year Focus 2015
Document Fiscal Period Focus Q2
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Statement of Cash Flows (USD $)
6 Months Ended
Jan. 31, 2015
Jan. 31, 2014
Net Cash Provided by (Used in) Operating Activities    
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $ (4,655)us-gaap_ProfitLoss $ (5,556)us-gaap_ProfitLoss
Increase (Decrease) in Operating Liabilities    
Increase (Decrease) in Accounts Payable 300us-gaap_IncreaseDecreaseInAccountsPayable  
Net Cash Provided by (Used in) Operating Activities (4,355)us-gaap_NetCashProvidedByUsedInOperatingActivities (5,556)us-gaap_NetCashProvidedByUsedInOperatingActivities
Net Cash Provided by (Used in) Financing Activities    
Net Cash Provided by (Used in) Financing Activities 0us-gaap_NetCashProvidedByUsedInFinancingActivities 0us-gaap_NetCashProvidedByUsedInFinancingActivities
Cash and Cash Equivalents, Period Increase (Decrease) (4,355)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (5,556)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and Cash Equivalents, at Carrying Value 9,521us-gaap_CashAndCashEquivalentsAtCarryingValue 9,100us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and Cash Equivalents, at Carrying Value $ 5,166us-gaap_CashAndCashEquivalentsAtCarryingValue $ 3,544us-gaap_CashAndCashEquivalentsAtCarryingValue
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Organization, Consolidation and Presentation of Financial Statements
6 Months Ended
Jan. 31, 2015
Organization, Consolidation and Presentation of Financial Statements:  
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Organization and Description of Business

DANLAX, CORP. (“the Company”) was incorporated under the laws of the State of Nevada, U.S. on April 10, 2013.  The Company is a start-up company.  Since inception through January 31, 2015 the Company has not generated any revenue and has accumulated losses of $31,840. Company is in the business of mobile games development.

 

Cash and Cash Equivalents

The Company considers all highly liquid instruments purchased with a maturity of three months or less to be cash equivalents to the extent the funds are not being held for investment purposes.

 

The Company's bank accounts are deposited in insured institutions. The funds are insured up to $250,000. At January 31, 2015 the Company's bank deposits did not exceed the insured amounts.

 

Basic Income (Loss) Per Share

The Company computes loss per share in accordance with “ASC-260”, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period.  Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive.

 

Dividends

The Company has not adopted any policy regarding payment of dividends. No dividends have been paid during any of the periods shown.

 

Income Taxes

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

 

Advertising Costs

The Company’s policy regarding advertising is to expense advertising when incurred. The Company incurred advertising expense of $0 during the period ended January 31, 2015.

 

 

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 July 31 fiscal year end.

 

Impairment of Long-Lived Assets

The Company continually monitors events and changes in circumstances that could indicate carrying amounts of long-lived assets may not be recoverable. When such events or changes in circumstances are present, the Company assesses the recoverability of long-lived assets by determining whether the carrying value of such assets will be recovered through undiscounted expected future cash flows. If the total of the future cash flows is less than the carrying amount of those assets, the Company recognizes an impairment loss based on the excess of the carrying amount over the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or the fair value less costs to sell.

 

Recent accounting pronouncements

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

 

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.

 

 

Stock-Based Compensation

As of January 31, 2015 the Company has not issued any stock-based payments to its employees. Stock-based compensation is accounted for at fair value in accordance with SFAS No. 123 and 123(R) (ASC 718).  To date, the Company has not adopted a stock option plan and has not granted any stock options.

 

Revenue Recognition

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

 

NOTE 2 – GOING CONCERN

 

The accompanying financial statements have been prepared in conformity with generally accepted accounting principle, which contemplate continuation of the Company as a going concern.  However, the Company had no revenues as of January 31, 2015.  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.

 

NOTE 3 – COMMON STOCK

 

The Company has 75,000,000 common shares authorized with a par value of $ 0.001 per share. On July 25, 2013, the Company issued 9,000,000 shares of its common stock at $0.001 per share for total proceeds of $9,000. In May 2014, the Company issued 2,740,000 shares of its common stock at $0.01 per share for total proceeds of $27,400

 

As of January 31, 2015, the Company had 11,740,000 shares issued and outstanding.

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