Preston Corp. - Form 10-Q

0001273511-16-000178.txt : 20160516 0001273511-16-000178.hdr.sgml : 20160516 20160516135250 ACCESSION NUMBER: 0001273511-16-000178 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 30 CONFORMED PERIOD OF REPORT: 20160331 FILED AS OF DATE: 20160516 DATE AS OF CHANGE: 20160516 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PRESTON CORP. CENTRAL INDEX KEY: 0001594219 STANDARD INDUSTRIAL CLASSIFICATION: GOLD & SILVER ORES [1040] IRS NUMBER: 000000000 STATE OF INCORPORATION: NV FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-55243 FILM NUMBER: 161652554 BUSINESS ADDRESS: STREET 1: 311 WEST THIRD STREET CITY: CARSON CITY STATE: NV ZIP: 89703 BUSINESS PHONE: 775-345-3449 MAIL ADDRESS: STREET 1: 311 WEST THIRD STREET CITY: CARSON CITY STATE: NV ZIP: 89703 10-Q 1 f160331preston10q.htm QUARTERLY REPORT FOR PERIOD ENDED MARCH 31, 2016 Preston Corp. - Form 10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 10-Q

Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the quarterly period ended

March 31, 2016

Transition Report pursuant to 13 or 15(d) of the Securities Exchange Act of 1934

For the transition period _____________to______________

Commission File Number 333-193967


	PRESTON CORP.
	(Exact name of registrant as specified in its charter)


Nevada		46-4474279
---------------------------------		------------------------------
(State or other jurisdiction of		(IRS Employer Identification No.)
incorporation or organization)


6836 Bee Caves Road
Austin, Texas		78746
----------------------------------------		------------------------------
(Address of principal executive offices)		(Postal or Zip Code)


Registrant’s telephone number, including area code:		(775) 345-3449
		----------------------------

311 West Third Street Suite 4001 Carson City, NV 89703

(Former name, former address and former fiscal year,

if changed since last report

Indicate by check mark whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days

x Yes o No

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

x Yes o No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of ‘‘accelerated filer and large accelerated filer’’ in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer

Accelerated filer

Non-accelerated filer

Small reporting company

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

oYes x No

State the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date: 72,400,000 shares of $0.001 par value common stock outstanding as of May 16, 2016.

PART I. FINANCIAL INFORMATION

Item 1.

Financial Statements

PRESTON CORP.

BALANCE SHEETS

(Unaudited)


	March 31, 2016	September 30, 2015
ASSETS

Current assets:
Cash	$ 5,074	$ 1,503
Prepaid deposits	-	9,474

Total currents assets	5,074	10,977

Capital assets:
Computer	1,454	1,454
Mining license	-	61,000

Total capital assets	1,454	62,454

Total assets	$ 6,528	$ 73,431

LIABILITIES AND STOCKHOLDERS' DEFICIT

Current liabilities:
Accounts payable - related party	$ 31,400	$ 24,200
Advances	62,100	34,800
Advances - related party	65,900	65,900

Total current liabilities	159,400	124,900

Total liabilities	159,400	124,900

Commitments


STOCKHOLDERS' DEFICIT

Preferred stock, $0.001 par value, 5,000,000 shares authorized;
Series A Convertible Preferred, $0.001 par value, 500,000
shares authorized, 500,000 shares issued and outstanding
at March 31, 2016 and September 30, 2015, respectively	500	500

Common stock, $0.001 par value, 200,000,000 shares authorized,
72,400,000 shares issued and outstanding at
March 31, 2016 and September 30, 2015, respectively	72,400	72,400

Additional paid in capital	46,700	31,700

Accumulated deficit	(272,472)	(156,069)

Total stockholders' deficit	(152,872)	(51,469)

Total liabilities and stockholders' deficit	$ 6,258	$ 73,431

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

PRESTON CORP.

STATEMENTS OF OPERATIONS

For the three and six months ended March 31, 2016 and 2015

(Unaudited)


	Three months	Three months	Six months	Six months
	March 31, 2016	March 31, 2015	March 31, 2016	March 31, 2015

Operating expenses:

Exploration	$ -	$ -	$ -	$ -
Impairment	61,000	-	61,000	-
General and administration	34,159	17,169	55,403	33,702

Total operating expenses	95,159	17,169	116,403	33,702

Net loss	$ (95,159)	$ (17,169)	$ (116,403)	$ (33,702)

Net loss per share:

Basic and diluted	$ ( 0.00)	$ ( 0.00)	$ ( 0.00)	$ ( 0.00)

Weighted average shares
outstanding:

Basic and diluted	72,400,000	116,588,889	72,400,000	143,284,615

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

PRESTON CORP.

STATEMENTS OF CASH FLOWS

For the six months ended March 31, 2016 and 2015

(Unaudited)


	Six months ended	Six months ended
	March 31, 2016	March 31, 2015

CASH FLOWS FROM OPERATING ACTIVITIES

Net loss	$ (116,403)	$ (33,702)

Adjustment to reconcile net loss to cash used in operating activities:
Impairment	61,000	-
Stock Compensation	15,000	-

Net change in:
Prepaid deposits	9,474	25
Accounts payable - related party	7,200	9,000

CASH FLOWS USED IN OPERATING ACTIVITIES	(23,729)	(24,677)

CASH FLOWS FROM FINANCING ACTIVITIES:

Proceeds from advances	27,300	24,800

CASH FLOWS PROVIDED BY FINANCING ACTIVITIES	27,300	24,800

NET CHANGE IN CASH	3,571	123

Cash, beginning of period	1,503	5,892

Cash, end of period	$ 5,074	$ 6,015

SUPPLEMENTAL CASH FLOW INFORMATION

Cash paid on interest expenses	$ -	$ -

Cash paid for income taxes	$ -	$ -

Non-cash and investing and financing activities:

Preferred stock issued for mining license	$ -	$ 61,000
Return and cancellations on stock	$ -	$ 97,000

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

PRESTON CORP.

NOTES TO THE FINANCIAL STATEMENTS

March 31, 2016

(UNAUDITED)

Note 1

Basis of Presentation

The accompanying unaudited interim financial statements of Preston Corp. (“Preston” or the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission (“SEC”), and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s Annual Report filed with the SEC on Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for our interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements that would substantially duplicate the disclosure contained in the audited financial statements for fiscal 2015, as reported in the Form 10-K of the Company, have been omitted.

General

The Company is in the process of exploring and evaluating its mineral properties and determining whether they contain ore reserves that are economically recoverable. The recoverability of amounts shown for mineral properties is dependent upon the discovery of economically recoverable ore reserves, the ability of the Company to obtain the necessary financing to complete development, confirmation of the Company’s interest in the underlying mineral claims and upon future profitable production or proceeds from the disposition of all or part of its mineral properties.

The Company’s activities are subject to significant risks and uncertainties including failure to secure additional funding to properly execute the Company’s business plan.

Note 2

Going Concern

These financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for its next fiscal year. Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. At March 31, 2016, the Company had not yet achieved profitable operations, has accumulated losses of $272,472 and expects to incur further losses in the development of its business, all of which raise substantial doubt about the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management has no formal plan in place to address this concern but considers that the Company will be able to obtain additional funds by equity financing and/or related party advances; however there is no assurance of additional funding being available.

Note 3

Advances

During the period ended March 31, 2016, the Company received advances in an aggregate of $27,300. The advances are unsecured, non-interest bearing and have no specific terms for repayment. As of March 31, 2016, the advances totaled $62,100.

Note 4

Related Party Transactions

The related party advances are due to the former director and President of the Company for funds advanced. The advances are unsecured, non-interest bearing and have no specific terms for repayment. As of March 31, 2016, the advances totaled $65,900.

The Company was charged management fees by the former President of the Company when funds are available. Effective April 1, 2014, the Company agreed to pay the former President of the Company $2,000 per month for management services if funds are available or to accrue such amount if funds are not available. This agreement ceased when the former President resigned on March 23, 2016. Accounts payable – related party are the fees earned but not yet paid of $31,400 and $24,200 at March 31, 2016 and September 30, 2015, respectively.


	Six months ended March 31, 2016	Six months ended March 31, 2015

Management fees	$ 12,000	$ 12,000

Note 5

Commitments

On March 23, 2016, the Company signed a consulting agreement with the newly appointed President and Director, Andrew Stack. Mr. Stack will receive a fee in the amount of $5,000 per month commencing April 1, 2016. As further compensation to Mr. Stack for development of the Company, he will receive a total of 1,000,000 Common shares of the Company. These shares are not a new issuance but will be transferred from the former President of the Company.

Additionally, on March 23, 2016, the 500,000 shares of Series A Convertible Preferred $0.001 par value that were issued and outstanding have been transferred to Mr. Stack from the former President. These shares have been recorded as $15,000 to Stock Compensation Expense and Additional Paid In Capital.

Note 6

Subsequent Events

On April 22, 2016, the Company executed a business arrangement and agreement with Western Mine Development LLC (“Western"). Western has a large portfolio of gold production properties and projects focused in the Western United States. Western will, under the terms of the agreement, bring the Company a selection of viable candidates which meet the Company's mandate for royalty investments. Upon acceptance in writing of a viable property, the Company will compensate Western an amount of up to 10% of the gross property value.

On May 3, 2016, the Company has executed a preliminary lease agreement, through its agent Western Mine Development LLC, on a gold mine in California. The project is a placer mine and historic gold producer located in the Sierra Nevada Mountains north of Sacramento.

Item 2.

Management’s Discussion and Analysis of Financial Conditions and Results of Operations

This document includes statements that may constitute forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. We caution readers regarding certain forward-looking statements in this document, press releases, securities filings, and all other documents and communications. All statements, other than statements of historical fact, including statements regarding industry prospects and future results of operations or financial position, made in this Quarterly Report on Form 10-Q (" Report ") are forward looking. The words " believes ," " anticipates ," " estimates ," " expects ," and words of similar import, constitute " forward-looking statements ." While we believe in the veracity of all statements made herein, forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by us, are inherently subject to significant business, economic and competitive uncertainties and contingencies and known and unknown risks. As a result of such risks, our actual results could differ materially from those expressed in any forward-looking statements made by, or on behalf of, our company. We will not necessarily update information if any forward-looking statement later turns out to be inaccurate. Our actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including risks and uncertainties set forth in our S-1 Registration Statement, as well as in other documents we file with the Securities and Exchange Commission ("SEC ").

The following information has not been audited. You should read this information in conjunction with the unaudited financial statements and related notes to the financial statements included in this report.

Our Business

We are an “exploration stage” company that has not realized any revenues to date. Our mission is to develop our company into a leading alternative financing company that specializes in royalty financing for mining operations with the intent to realize large, continuous profits from ongoing economic interest in the production or future production from mining property. We are gold focused but plan to create a diversified portfolio of royalties and streams wherever the value can be found regardless of commodity, geography, revenue type or stage of project. We are not an operator and therefore have none of the associated risks or capital requirements of mine operation.

On January 27, 2015, pursuant to a License Purchase Agreement, we acquired all of the right, title and interest in and to a license (the “Handeni License”) to develop and mine for gold on approximately 80.4 square kilometers located southeast of Handeni in eastern Tanzania (the “Mid-Green Hills Property”). The Handeni License was acquired from AFGF (Tanzania) Ltd. (“AFGF”) for 500,000 shares of the Company’s Series A Preferred Stock (the “Purchase Price”). AFGF is a wholly-owned subsidiary of Kokanee Placer Ltd., a corporation wholly-owned by Laurence Stephenson, our former President, director and shareholder. Our Board reviewed the transaction, and Mr. Stephenson abstaining from voting, the transaction was approved. Our Board believes that the Purchase Price for this acquisition was fair and reasonable and at or below the fair market price that an independent third party would pay. Our Board further believes that this acquisition is in the best interests of both our company and our shareholders.

On February 28, 2016, the Handeni License expired and the Company has elected not to renew it and instead focus on royalty financing for mining interests primarily within North America. As of March 31, 2016, the previously capitalized $61,000 mining license has been charged to impairment expense.

Plan of Operation

Our mission is to develop our company into a leading alternative financing company that specializes in royalty financing for mining operations with the intent to realize large, continuous profits from ongoing economic interest in the production or future production from mining property. We are gold focused but plan to create a diversified portfolio of royalties and streams wherever the value can be found regardless of commodity, geography, revenue type or stage of project. We are not an operator and therefore have none of the associated risks or capital requirements of mine operation.

On February 28, 2016 the Handeni License expired and the Company has elected not to renew it and instead focus on royalty financing for mining interests primarily within North America. As of March 31, 2016 the previously capitalized $61,000 mining license has been charged to impairment expense.

If we are not successful in raising additional financing, we anticipate that we will not be able to proceed with our business plan. In such a case, we may decide to discontinue our current business plan and seek other business opportunities in the resource or non-resource sector. Any business opportunity would require our management to perform diligence on possible acquisition of additional resource properties. Such due diligence would likely include purchase investigation costs, such as professional fees by consulting geologists, preparation of geological reports on the properties, conducting title searches and travel costs for site visits.

Based on the nature of our business, we anticipate incurring operating losses in the foreseeable future. We base this expectation, in part, on the fact that very few mineral claims in the exploration stage ultimately develop into producing, profitable mines. Our future financial results are also uncertain due to a number of factors, some of which are outside our control. These factors include the following:

• our ability to raise additional funding;

• our ability to locate and acquire a suitable interest in a mineral property;

• the market price for minerals;

• the results of our proposed exploration programs; and

• our ability to find joint venture partners for the development of any property interests

We have not attained profitable operations and are dependent upon obtaining financing to pursue exploration activities. For these reasons our auditors believe that there is substantial doubt that we will be able to continue as a going concern.

We have had no operating revenues during the six months ended March 31, 2016, and have incurred operating expenses in the amount of $116,403 for the same period. Our activities have been financed from the proceeds of advances.

Results of Operations for Three and Six Months Ending March 31, 2016

We did not earn any revenues during the three or six months ending March 31, 2016 and 2015. We incurred operating expenses in the amount of $95,159 and $116,403, for the three and six months ended March 31, 2016, respectively, compared to $17,169 and $33,702 for the three and six months ended March 31, 2015.

Liquidity and Capital Resources

As of March 31, 2016, we had total current assets of $5,074, consisting only of cash, and a working capital deficit of $154,326 compared to total currents assets of $10,977 and working capital deficit of $113,923 as of the year ended September 30, 2015. Our liabilities consisted of accounts payable, advances, and related party advances to us.

We expect to continue incurring losses in the next twelve months. We have no agreements for additional financing and cannot provide any assurance that additional funding will be available to finance our operations on acceptable terms in order to enable us to complete our plan of operations. There are no assurances that we will be able to achieve further sales of our common stock or any other form of additional financing. If we are unable to achieve the financing necessary to continue our plan of operations, then we will not be able to continue our exploration of our mineral claim and our venture will fail.

We plan to continue to finance our activities in the short term through shareholder advances similar to the ones that have occurred to date. In the longer term it is hoped there will be further equity financings but none are planned at the moment.

Off-Balance Sheet Arrangements

We do not maintain any off-balance sheet transactions, arrangements, or obligations that are reasonably likely to have a material effect on our financial condition, results of operations, liquidity, or capital resources.

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

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

Item 4:

Controls and Procedures

Evaluation of Disclosure Controls

Based upon an evaluation of the effectiveness of our disclosure controls and procedures performed by our management, with participation of our Chief Executive Officer and Chief Financial Officer as of the end of the period covered by this report, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures have not been effective as a result of a weakness in the design of internal control over financial reporting.

As used herein, “disclosure controls and procedures” mean controls and other procedures of our company that are designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Securities 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 us in the reports that we file or submit under the Securities Exchange Act is accumulated and communicated to our management, including our principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

Management’s Report on Internal Control Over Financial Reporting

Management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Exchange Act Rule 13a-15(f) under the Securities Exchange Act of 1934. Under the supervision and with the participation of our Chief Executive Officer and Chief Financial Officer, we conducted an evaluation of the effectiveness of our control over financial reporting based on the framework in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”). Based on our evaluation under the framework, management has concluded that our internal control over financial reporting was not effective as of March 31, 2016.

Certain internal control weaknesses became evident that, in the aggregate, represent material weaknesses, including: (i) lack of segregation of incompatible duties; (ii) insufficient Board of Directors representation; and (iii) insufficient personnel with an appropriate level of technical accounting knowledge, experience, and training in the application of GAAP commensurate with our complexity and our financial accounting and reporting requirements.

There were no changes in our internal controls that occurred during the quarter covered by this report that have materially affected, or are reasonably likely to materially affect our internal controls.

PART II- OTHER INFORMATION

Item 1.

Legal Proceedings

We are not a party to any pending legal proceeding. Management is not aware of any threatened litigation, claims or assessments.

Item 1A.

Risk Factors

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

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

We did not issue any securities during the quarter ended March 31, 2016.

Item 3.

Defaults Upon Senior Securities

None.

Item 4.

Mine Safety Disclosures

Not applicable.

Item 5.

Other Information

None.

Item 6.

Exhibits

(a)

Exhibit(s)


Number	Exhibit Description

31.1	Certification of the Chief Executive Officer and Chief Financial Officer pursuant to Rule 13a-14 Or 15d-14 of the Securities Exchange Act Of 1934,as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

32.1	Certification of the Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

101	Interactive data files formatted in XBRL (eXtensible Business Reporting Language): (i) the Consolidated Balance Sheets, (ii) the Consolidated Statements of Operations, (iii) the Consolidated Statements of Cash Flows, and (iv) the Notes to the Consolidated Financial Statements.
	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

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

DATED: May 16, 2016

PRESTON CORP.

By: /s/ W. Andrew Stack

W. Andrew Stack

CEO, President, Secretary/Treasurer, and Director

(Principal Executive Officer, Principal Financial Officer, and Principal Accounting Officer)

EX-31 2 exhibit311.htm CEO/CFO SECTION 302 CERTIFICATION UNDER SARBANES-OXLEY ACT OF 2002 Exhibit 31.1

Exhibit 31.1

CERTIFICATION

I, W. Andrew Stack, Principal Executive Officer, Principal Financial Officer, and Principal Accounting Officer of Preston Corp., certify that:

I have reviewed this quarterly report on Form 10-Q of Preston Corp.;

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;

Based on my knowledge, the financial statements, and other financial information included in this quarterly 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;

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

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: May 16, 2016

By: /s/ W. Andrew Stack

W. Andrew Stack

CEO, President, Secretary/Treasurer, and Director

(Principal Executive Officer, Principal Financial Officer, and Principal Accounting Officer)

EX-32 3 exhibit321.htm CEO/CFO SECTION 906 CERTIFICATION UNDER SARBANES-OXLEY ACT OF 2002 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 Preston Corp. (the “Company”) on Form 10-Q for the period ended March 31, 2016 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:

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

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

Date: May 16, 2016

By: /s/ W. Andrew Stack

W. Andrew Stack

CEO, President, Secretary/Treasurer, and Director

(Principal Executive Officer, Principal Financial Officer, and Principal Accounting Officer)

EX-101.INS 4 pres-20160331.xml XBRL INSTANCE DOCUMENT 0001594219 2015-10-01 2016-03-31 0001594219 2015-03-31 0001594219 2016-03-31 0001594219 2016-05-16 0001594219 2014-10-01 2015-03-31 0001594219 us-gaap:PresidentMember 2015-10-01 2016-03-31 0001594219 us-gaap:SeriesAPreferredStockMember 2016-03-31 0001594219 us-gaap:SeriesAPreferredStockMember 2015-09-30 0001594219 2015-09-30 0001594219 2014-09-30 0001594219 2016-01-01 2016-03-31 0001594219 2015-01-01 2015-03-31 0001594219 us-gaap:PresidentMember 2016-03-23 iso4217:USD xbrli:shares iso4217:USD xbrli:shares PRESTON CORP. 0001594219 10-Q 2016-03-31 false --09-30 No No Yes Smaller Reporting Company Q2 2016

5074

1503

5074

10977

6528

73431

65900

159400

124900

159400

124900

72400

31400

24200

0.001

200000000

72400000

1000000

72400000

55403

33702

34159

17169

116403

33702

95159

17169

-116403

-33702

-95159

-17169

-0.00

72400000

143284615

72400000

116588889

9474

-23729

-24677

27300

24800

3571

123

6015

5074

1503

5892

12000

2000

1454

62454

7200

9000

9474

62100

34800

61000

1454

500

0.001

5000000

500000

5000000

500000

27300

24800

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">Six months ended March 31, 2016</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">Six months ended March 31, 2015</td></tr> <tr style="vertical-align: bottom"> <td style="width: 56%; font-size: 10pt"> </td><td style="width: 8%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 12%; font-size: 10pt; text-align: right"> </td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 8%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 12%; font-size: 10pt; text-align: right"> </td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.5pt">Management fees</td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">12,000</td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">12,000</td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td></tr> </table>

46700

31700

-272472

-156069

-152872

-51469

6528

73431

61000

61000 97000

Note 1 Basis of Presentation   The accompanying unaudited interim financial statements of Preston Corp. (Preston or the Company) have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission (SEC), and should be read in conjunction with the audited financial statements and notes thereto contained in the Companys Annual Report filed with the SEC on Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for our interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements that would substantially duplicate the disclosure contained in the audited financial statements for fiscal 2015, as reported in the Form 10-K of the Company, have been omitted.   General   The Company is in the process of exploring and evaluating its mineral properties and determining whether they contain ore reserves that are economically recoverable. The recoverability of amounts shown for mineral properties is dependent upon the discovery of economically recoverable ore reserves, the ability of the Company to obtain the necessary financing to complete development, confirmation of the Companys interest in the underlying mineral claims and upon future profitable production or proceeds from the disposition of all or part of its mineral properties.   The Companys activities are subject to significant risks and uncertainties including failure to secure additional funding to properly execute the Companys business plan.

Note 2 Going Concern   These financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for its next fiscal year. Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. At March 31, 2016, the Company had not yet achieved profitable operations, has accumulated losses of $272,472 and expects to incur further losses in the development of its business, all of which raise substantial doubt about the Companys ability to continue as a going concern. The Companys ability to continue as a going concern is dependent upon its ability to generate future profitable operations and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management has no formal plan in place to address this concern but considers that the Company will be able to obtain additional funds by equity financing and/or related party advances; however there is no assurance of additional funding being available. Note 3 Advances   During the period ended March 31, 2016, the Company received advances in an aggregate of $27,300. The advances are unsecured, non-interest bearing and have no specific terms for repayment. As of March 31, 2016, the advances totaled $62,100.

Note 4 Related Party Transactions   The related party advances are due to the former director and President of the Company for funds advanced.  The advances are unsecured, non-interest bearing and have no specific terms for repayment. As of March 31, 2016, the advances totaled $65,900.   The Company was charged management fees by the former President of the Company when funds are available.  Effective April 1, 2014, the Company agreed to pay the former President of the Company $2,000 per month for management services if funds are available or to accrue such amount if funds are not available. This agreement ceased when the former President resigned on March 23, 2016.  Accounts payable related party are the fees earned but not yet paid of $31,400 and $24,200 at March 31, 2016 and September 30, 2015, respectively.   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">Six months ended March 31, 2016</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">Six months ended March 31, 2015</td></tr> <tr style="vertical-align: bottom"> <td style="width: 56%; font-size: 10pt"> </td><td style="width: 8%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 12%; font-size: 10pt; text-align: right"> </td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 8%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 12%; font-size: 10pt; text-align: right"> </td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.5pt">Management fees</td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">12,000</td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">12,000</td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td></tr> </table>

Note 5 Commitments   On March 23, 2016, the Company signed a consulting agreement with the newly appointed President and Director, Andrew Stack. Mr. Stack will receive a fee in the amount of $5,000 per month commencing April 1, 2016.  As further compensation to Mr. Stack for development of the Company, he will receive a total of 1,000,000 Common shares of the Company. These shares are not a new issuance but will be transferred from the former President of the Company.     Additionally, on March 23, 2016 the 500,000 shares of Series A Convertible Preferred $0.001 par value that were issued and outstanding have been transferred to Mr. Stack from the former President. These shares have been recorded as $15,000 to Stock Compensation Expense and Additional Paid In Capital.

Note 6 Subsequent Events   On April 22, 2016, the Company executed a business arrangement and agreement with Western Mine Development LLC (Western"). Western has a large portfolio of gold production properties and projects focused in the Western United States. Western will, under the terms of the agreement, bring the Company a selection of viable candidates which meet the Company's mandate for royalty investments. Upon acceptance in writing of a viable property, the Company will compensate Western an amount of up to 10% of the gross property value.   On May 3, 2016, the Company has executed a preliminary lease agreement, through its agent Western Mine Development LLC, on a gold mine in California. The project is a placer mine and historic gold producer located in the Sierra Nevada Mountains north of Sacramento.

15000

EX-101.SCH 5 pres-20160331.xsd XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 00000001 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 00000002 - Statement - BALANCE SHEETS (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000003 - Statement - BALANCE SHEETS (Unaudited) (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 00000004 - Statement - STATEMENTS OF OPERATIONS (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000005 - Statement - STATEMENTS OF CASH FLOWS (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000006 - Disclosure - Basis of Presentation link:presentationLink link:calculationLink link:definitionLink 00000007 - Disclosure - Going Concern link:presentationLink link:calculationLink link:definitionLink 00000008 - Disclosure - Advances link:presentationLink link:calculationLink link:definitionLink 00000009 - Disclosure - Related Party Transactions link:presentationLink link:calculationLink link:definitionLink 00000010 - Disclosure - Commitments link:presentationLink link:calculationLink link:definitionLink 00000011 - Disclosure - Subsequent Events link:presentationLink link:calculationLink link:definitionLink 00000012 - Disclosure - Related Party Transactions (Tables) link:presentationLink link:calculationLink link:definitionLink 00000013 - Disclosure - Advances (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000014 - Disclosure - Related Party Transactions (Details) link:presentationLink link:calculationLink link:definitionLink 00000015 - Disclosure - Related Party Transactions (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000016 - Disclosure - Commitments (Details Narrative) link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 6 pres-20160331_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT EX-101.DEF 7 pres-20160331_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT EX-101.LAB 8 pres-20160331_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT President [Member] Related Party [Axis] Series A Preferred Stock [Member] Equity Components [Axis] Andrew Stack [Member] Document And Entity Information Entity Registrant Name Entity Central Index Key Document Type Document Period End Date Amendment Flag Current Fiscal Year End Date Is Entity a Well-known Seasoned Issuer? Is Entity a Voluntary Filer? Is Entity's Reporting Status Current? Entity Filer Category Entity Public Float Entity Common Stock, Shares Outstanding Document Fiscal Period Focus Document Fiscal Year Focus Statement [Table] Statement [Line Items] ASSETS Current assets: Cash Prepaid deposits Total current assets Capital assets: Computer Mining license Total capital assets Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable - related party Advances Advances - related parties Total current liabilities Total liabilities Commitments STOCKHOLDERS' EQUITY Preferred stock, $0.001 par value, 5,000,000 shares authorized; Series A Convertible Preferred, $0.001 par value, 500,000 shares authorized, 500,000 shares issued and outstanding at March 31, 2016 and September 30, 2015, respectively Common stock, $0.001 par value, 200,000,000 shares authorized, 72,400,000 shares issued and outstanding at March 31, 2016 and September 30, 2015, respectively Additional paid-in capital Accumulated deficit Total stockholders' deficit Total liabilities and stockholders' deficit Preferred Stock, par value (in dollars per share) Preferred Stock, shares authozied Preferred Stock, shares issued Preferred Stock, shares outstanding Common Stock, par value (in dollars per share) Common Stock, shares authozied Common Stock, shares issued Common Stock, shares outstanding Income Statement [Abstract] Operating expenses: Exploration Impairment General and administrative Total operating expenses Net loss Net loss per share: Basic and diluted Weighted average shares outstanding: Basic and diluted (in shares) Statement of Cash Flows [Abstract] CASH FLOWS FROM OPERATING ACTIVITIES Net loss Adjustments to reconcile net loss to cash used in operating activities Stock Compensation Net change in Operating Assets and Liabilities: Prepaid deposits Accounts payable - related party CASH FLOWS USED IN OPERATING ACTIVITIES CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from advances CASH FLOWS PROVIDED BY FINANCING ACTIVITIES NET INCREASE IN CASH Cash, beginning of period Cash, end of period SUPPLEMENTAL CASH FLOW INFORMATION Cash paid on interest expenses Cash paid for income taxes Non-cash and investing and financing activities: Preferred stock issued for mining license Return and cancellations on stock Accounting Policies [Abstract] Basis of Presentation Notes to Financial Statements Going Concern Advances Related Party Transactions [Abstract] Related Party Transactions Commitments and Contingencies Disclosure [Abstract] Commitments Subsequent Events [Abstract] Subsequent Events Schedule of charges by the President of the Company Advances Details Narrative Management fees Advances by related parties Management Services Fees per month Common Shares Issued Preferred Stock Transferred from Former President Advances Text Block Mining License Going Concern TextBlock Preferred stock issued for mining license Return and cancellations on stock Assets, Current Assets, Noncurrent Assets Liabilities, Current Liabilities Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest Liabilities and Equity Operating Expenses Increase (Decrease) in Prepaid Expense and Other Assets Increase (Decrease) in Accounts Payable, Related Parties Net Cash Provided by (Used in) Financing Activities, Continuing Operations Cash and Cash Equivalents, Period Increase (Decrease) Cash and Cash Equivalents, at Carrying Value AdvancesTextBlock Commitments and Contingencies Disclosure [Text Block] EX-101.PRE 9 pres-20160331_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT XML 10 R1.htm IDEA: XBRL DOCUMENT

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Mar. 31, 2016	May. 16, 2016
Document And Entity Information
Entity Registrant Name	PRESTON CORP.
Entity Central Index Key	0001594219
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--09-30
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		72,400,000
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2016

XML 11 R2.htm IDEA: XBRL DOCUMENT

BALANCE SHEETS (Unaudited) - USD ($)	Mar. 31, 2016	Sep. 30, 2015
Current assets:
Cash	$ 5,074	$ 1,503
Prepaid deposits		9,474
Total current assets	$ 5,074	10,977
Capital assets:
Computer	$ 1,454	1,454
Mining license		61,000
Total capital assets	$ 1,454	62,454
Total assets	6,528	73,431
Current liabilities:
Accounts payable - related party	31,400	24,200
Advances	62,100	34,800
Advances - related parties	65,900	65,900
Total current liabilities	159,400	124,900
Total liabilities	159,400	124,900
STOCKHOLDERS' EQUITY
Common stock, $0.001 par value, 200,000,000 shares authorized, 72,400,000 shares issued and outstanding at March 31, 2016 and September 30, 2015, respectively	72,400	72,400
Additional paid-in capital	46,700	31,700
Accumulated deficit	(272,472)	(156,069)
Total stockholders' deficit	(152,872)	(51,469)
Total liabilities and stockholders' deficit	6,528	73,431
Series A Preferred Stock [Member]
STOCKHOLDERS' EQUITY
Preferred stock, $0.001 par value, 5,000,000 shares authorized; Series A Convertible Preferred, $0.001 par value, 500,000 shares authorized, 500,000 shares issued and outstanding at March 31, 2016 and September 30, 2015, respectively	$ 500	$ 500

XML 12 R3.htm IDEA: XBRL DOCUMENT

BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2016	Sep. 30, 2015
Preferred Stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred Stock, shares authozied	5,000,000	5,000,000
Common Stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common Stock, shares authozied	200,000,000	200,000,000
Common Stock, shares issued	72,400,000	72,400,000
Common Stock, shares outstanding	72,400,000	72,400,000
Series A Preferred Stock [Member]
Preferred Stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred Stock, shares authozied	500,000	500,000
Preferred Stock, shares issued	500,000	500,000
Preferred Stock, shares outstanding	500,000	500,000

XML 13 R4.htm IDEA: XBRL DOCUMENT

STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Operating expenses:
Exploration
Impairment	$ 61,000		$ 61,000
General and administrative	34,159	$ 17,169	55,403	$ 33,702
Total operating expenses	95,159	17,169	116,403	33,702
Net loss	$ (95,159)	$ (17,169)	$ (116,403)	$ (33,702)
Net loss per share:
Basic and diluted	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.00)
Weighted average shares outstanding:
Basic and diluted (in shares)	72,400,000	116,588,889	72,400,000	143,284,615

XML 14 R5.htm IDEA: XBRL DOCUMENT

STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (95,159)	$ (17,169)	$ (116,403)	$ (33,702)
Adjustments to reconcile net loss to cash used in operating activities
Impairment	61,000		61,000
Stock Compensation			15,000
Net change in Operating Assets and Liabilities:
Prepaid deposits			9,474	$ 25
Accounts payable - related party			7,200	9,000
CASH FLOWS USED IN OPERATING ACTIVITIES			(23,729)	(24,677)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from advances			27,300	24,800
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES			27,300	24,800
NET INCREASE IN CASH			3,571	123
Cash, beginning of period			1,503	5,892
Cash, end of period	$ 5,074	$ 6,015	$ 5,074	$ 6,015
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid on interest expenses
Cash paid for income taxes
Non-cash and investing and financing activities:
Preferred stock issued for mining license				$ 61,000
Return and cancellations on stock				$ 97,000

XML 15 R6.htm IDEA: XBRL DOCUMENT

Basis of Presentation

6 Months Ended

Mar. 31, 2016

Accounting Policies [Abstract]

Basis of Presentation

Note 1 Basis of Presentation

General

The Company’s activities are subject to significant risks and uncertainties including failure to secure additional funding to properly execute the Company’s business plan.

XML 16 R7.htm IDEA: XBRL DOCUMENT

Going Concern

6 Months Ended

Mar. 31, 2016

Notes to Financial Statements

Going Concern

Note 2 Going Concern

XML 17 R8.htm IDEA: XBRL DOCUMENT

Advances

6 Months Ended

Mar. 31, 2016

Notes to Financial Statements

Advances

Note 3 Advances

XML 18 R9.htm IDEA: XBRL DOCUMENT

Related Party Transactions

6 Months Ended

Mar. 31, 2016

Related Party Transactions

Note 4 Related Party Transactions

	Six months ended March 31, 2016		Six months ended March 31, 2015

Management fees	$	12,000	$	12,000

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details

XML 19 R10.htm IDEA: XBRL DOCUMENT

Commitments

6 Months Ended

Mar. 31, 2016

Commitments and Contingencies Disclosure [Abstract]

Commitments

Note 5 Commitments

Additionally, on March 23, 2016 the 500,000 shares of Series A Convertible Preferred $0.001 par value that were issued and outstanding have been transferred to Mr. Stack from the former President. These shares have been recorded as $15,000 to Stock Compensation Expense and Additional Paid In Capital.

XML 20 R11.htm IDEA: XBRL DOCUMENT

Subsequent Events

6 Months Ended

Mar. 31, 2016

Subsequent Events [Abstract]

Subsequent Events

Note 6 Subsequent Events

XML 21 R12.htm IDEA: XBRL DOCUMENT

Related Party Transactions (Tables)

6 Months Ended

Mar. 31, 2016

Schedule of charges by the President of the Company

	Six months ended March 31, 2016		Six months ended March 31, 2015

Management fees	$	12,000	$	12,000

XML 22 R13.htm IDEA: XBRL DOCUMENT

Advances (Details Narrative) - USD ($)	6 Months Ended
Advances (Details Narrative) - USD ($)	Mar. 31, 2016	Mar. 31, 2015	Sep. 30, 2015
Advances Details Narrative
Proceeds from advances	$ 27,300	$ 24,800
Advances	$ 62,100		$ 34,800

XML 23 R14.htm IDEA: XBRL DOCUMENT

Related Party Transactions (Details) - USD ($)	6 Months Ended
Related Party Transactions (Details) - USD ($)	Mar. 31, 2016	Mar. 31, 2015
Related Party Transactions [Abstract]
Management fees	$ 12,000	$ 12,000

XML 24 R15.htm IDEA: XBRL DOCUMENT

Related Party Transactions (Details Narrative) - USD ($)	6 Months Ended
	Mar. 31, 2016	Sep. 30, 2015
Advances by related parties	$ 65,900	$ 65,900
Accounts payable - related party	31,400	$ 24,200
President [Member]
Management Services Fees per month	$ 2,000

XML 25 R16.htm IDEA: XBRL DOCUMENT

Commitments (Details Narrative) - shares	Mar. 31, 2016	Mar. 23, 2016	Sep. 30, 2015
Common Shares Issued	72,400,000		72,400,000
Andrew Stack [Member]
Common Shares Issued		1,000,000
Preferred Stock Transferred from Former President		500,000