0001636760-16-000029.txt : 20161025 0001636760-16-000029.hdr.sgml : 20161025 20161025114817 ACCESSION NUMBER: 0001636760-16-000029 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 42 CONFORMED PERIOD OF REPORT: 20161025 FILED AS OF DATE: 20161025 DATE AS OF CHANGE: 20161025 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Illumitry Corp. CENTRAL INDEX KEY: 0001636760 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 364797609 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 333-202841 FILM NUMBER: 161949716 BUSINESS ADDRESS: STREET 1: AYASA 53 CITY: YEREVAN STATE: 1B ZIP: 0015 BUSINESS PHONE: 17027512912 MAIL ADDRESS: STREET 1: AYASA 53 CITY: YEREVAN STATE: 1B ZIP: 0015 10-Q 1 illumitrycorp10qseptember.htm FORM 10-Q illumitrycorp10qseptember.htm - Generated by SEC Publisher for SEC Filing

 

 

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

Form 10-Q

 

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

For the quarterly period ended September 30, 2016

 

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

For the transition period from __________ to __________

 

Commission file number 333-202841

 

 

 

ILLUMITRY CORP.

(Exact name of small business issuer as specified in its charter)

 

 

Nevada

7389

36-4797609

(State or other jurisdiction of incorporation or organization)

(Primary Standard Industrial

Classification Number)

(IRS Employer

Identification Number)

 

 

 

 

Sasunci Davit Square, Yerevan, Armenia

 (Address of principal executive offices)

 

+17027512912

(Issuer's telephone number)

 

illumitrycorp@gmail.com

(Issuer's email)

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ       No o

 

 

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

 

Large accelerated filer o

 

Large accelerated filer o

 

Non-accelerated filer o

Smaller reporting company þ

 

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

 

State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date:   3,625,000 common shares issued and outstanding as of June 30, 2016.

 


 

ILLUMITRY CORP.

 

QUARTERLY REPORT ON FORM 10-Q

 

TABLE OF CONTENTS

 

 

 

Page

PART I

 FINANCIAL INFORMATION:

 

 

 

 

Item 1.

Financial Statements (Unaudited)

3

 

 

 

 

Balance Sheets as of September 30, 2016 (Unaudited) and December 31, 2015

 

Statements of Operations for the three and nine months period ended September 30, 2016 and September 30, 2015  (Unaudited)

4

 

5

 

 

 

 

Statements of Cash Flows for the nine months period ended September 30, 2016 and September 30, 2015 (Unaudited)

6

 

 

 

 

Notes to the Financial Statements (Unaudited)

7

 

 

 

Item 2.

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

10

 

 

 

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

11

 

 

 

Item 4.

Controls and Procedures

12

 

 

 

PART II

OTHER INFORMATION:

 

 

 

 

Item 1.

Legal Proceedings

12

 

 

 

Item 1A

Risk Factors

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 Securities Holders

12

 

 

 

Item 5.

Other Information

12

 

 

 

Item 6.

Exhibits

13

 

 

 

 

 Signatures

 

 

 

2

 


 

 

PART 1 – FINANCIAL INFORMATION

 

Item 1.  Financial Statements

 

The accompanying interim financial statements of Illumitry Corp. (the “Company”), have been prepared without audit pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with United States generally accepted principles have been condensed or omitted pursuant to such rules and regulations.

 

The interim financial statements are condensed and should be read in conjunction with the company’s latest annual financial statements.

 

In the opinion of management, the financial statements contain all material adjustments, consisting only of normal adjustments considered necessary to present fairly the financial condition, results of operations, and cash flows of the Company for the interim periods presented.

 

 

3

 


 

ILLUMITRY CORP.

CONDENSED BALANCE SHEETS

(UNAUDITED)

 

 

ASSETS

 

September 30, 2016 (Unaudited)

 

 

December 31, 2015

(Audited)

 

 

 

 

 

 

 

 

 

 

 

 

 

Current Assets

 

 

 

 

 

 

Cash and cash equivalents

$

1,468

 

$

176

 

Inventory

 

1,061

 

 

871

 

Prepaid Expenses

 

884

 

 

-

 

Total Current Assets

$

3,413

 

$

1,047

 

 

 

 

 

 

 

 

Fixed Assets

 

 

 

 

 

 

Equipment/Website

 

5,252

 

 

5,252

 

Accumulated Amortization

 

(1,561

)

 

 

(892

)

Total Fixed Assets

 

3,691

 

 

4,360

 

 

 

 

 

 

 

 

Total Assets

$

7,104

 

$

5,407

 

 

 

 

 

 

 

 

LIABILITIES AND SHAREHOLDERS’ EQUITY

 

 

 

 

 

 

 

 

 

 

 

 

 

Current Liabilities

 

 

 

 

 

 

Loan from director

$

11,400

 

$

10,900

 

 

 

 

 

 

 

 

Total Liabilities

 

11,400

 

 

10,900

 

 

 

 

 

 

 

 

Shareholders’ Equity

 

 

 

 

 

 

Common stock, par value $0.001; 75,000,000 shares authorized, 3,625,000 and 3,025,000 shares issued and outstanding respectively

 

3,625

 

 

3,025

 

Additional paid-in capital

 

11,707

 

 

460

 

Deficit accumulated during the development stage

 

(19,628

)

 

 

(8,978

)

 

 

 

 

 

 

 

Total Stockholder’s Equity

 

(4,296

)

 

 

(5,493

)

 

 

 

 

 

 

 

Total Liabilities and Shareholders’ Equity

$

7,104

 

$

5,407

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

See accompanying notes to unaudited financial statements.

4

 


 

ILLUMITRY CORP.

CONDENSED STATEMENTS OF OPERATIONS

 (UNAUDITED)

 

 

 

 

Three months ended September 30, 2016

Nine months ended September 30, 2016

Three months ended September 30, 2015

Nine months ended September 30, 2015

 

 

 

 

 

REVENUES

$

5,280

$

9,680

$

4,180

$

8,183

Cost of Goods Sold

714

1,217

651

651

Gross Profit

4,566

8,463

3,529

7,532

 

 

 

 

 

OPERATING EXPENSES

 

 

 

 

General and Administrative Expenses

4,253

19,113

4,328

14,101

TOTAL OPERATING EXPENSES

4,253

19,113

4,328

14,101

 

 

 

 

 

NET LOSS FROM OPERATIONS

313

(10,650

)

(799

)

(6,569

)

 

 

 

 

 

PROVISION FOR INCOME TAXES

-

 

 

 

 

 

 

 

 

NET LOSS

$

313

$

(10,650

)

$

(799

)

$

(6,569

)

 

 

 

 

 

NET LOSS PER SHARE: BASIC AND DILUTED

$

0.00

$

(0.00

)

$

(0.00

)

$

(0.00

)

 

 

 

 

 

WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED

3,625,000

3,529,745

3,000,000

3,000,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

See accompanying notes to unaudited financial statements.

5

 


 

ILLUMITRY CORP.

CONDENSED STATEMENT OF CASH FLOWS

(UNAUDITED)

 

 

 

Nine months ended September 30, 2016

Nine months ended September 30, 2015

 

 

CASH FLOWS FROM OPERATING ACTIVITIES

 

 

Net loss for the period

$

(10,650

)

$

(6,569

)

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

 

 

Inventory

(190

)

41

Prepaid Expenses

(884

)

400

Amortization

669

669

CASH FLOWS USED IN OPERATING ACTIVITIES

(11,055

)

(5,459

)

 

 

 

CASH FLOWS FROM INVESTING  ACTIVITIES 

 

 

Purchase of Fixed Assets

-

-

CASH FLOWS USED IN INVESTING  ACTIVITIES 

-

-

 

 

 

CASH FLOWS FROM FINANCING ACTIVITIES 

 

 

Proceeds from sale of common stock

600

-

Additional paid in capital

11,247

-

Loan

500

3,000

CASH FLOWS PROVIDED BY FINANCING ACTIVITIES

12,347

3,000

 

 

 

NET INCREASE IN CASH

1,292

(2,459

)

 

 

 

 

 

Cash, beginning of period

176

3,500

 

 

 

Cash, end of period

$

1,468

$

1,041

 

 

 

SUPPLEMENTAL CASH FLOW INFORMATION:

 

 

Interest paid

$

0

$

0

Income taxes paid

$

0

$

0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

See accompanying notes to unaudited financial statements.

6

 


 

ILLUMITRY CORP.

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2016 AND SEPTEMBER 30, 2015

 

NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS

 

Illumitry Corp. (“the Company”, “we”, “us” or “our”) was incorporated in the State of Nevada on October 17, 2014. We are a development-stage company formed to commence operations in a field of embroidery on fabric, furnishings, and clothing in Armenia.

 

NOTE 2 – GOING CONCERN

 

The accompanying financial statements have been prepared in conformity with generally accepted accounting principles, which contemplate continuation of the Company as a going concern.  However, the Company had limited revenues and incurred losses as of September 30, 2016.  The Company currently has negative 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. Therefore, there is substantial doubt about the Company’s ability to continue as a going concern.

 

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 will 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.

 

The Company’s unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates. The accompanying unaudited condensed financial statements reflect all adjustments, consisting of only normal recurring items, which, in the opinion of management, are necessary for a fair statement of the results of operations for the period shown and are not necessarily indicative of the results to be expected for the full year ending December 31, 2016. These unaudited condensed financial statements should be read in conjunction with the audited financial statements and related notes for the year ended December 31, 2015.

 

NOTE 3 – SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES

 

Basis of presentation

The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America, and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) and reflect all adjustments, consisting of normal recurring adjustments, which management believes are necessary to fairly present the financial position, results of operations and cash flows of the Company for the nine months period ended September 30, 2016 and September 30, 2015.

 

Cash and Cash Equivalents

The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company had $1,468 of cash as of September 30, 2016.

 

Income Taxes

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

 

Revenue Recognition

The Company will recognize revenue in accordance with ASC topic 605 “Revenue Recognition”. The Company recognizes revenue when products are fully delivered or services have been provided and collection is reasonably assured.

 

 

 

7

 


 

ILLUMITRY CORP.

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2016 AND SEPTEMBER 30, 2015

 

NOTE 3 – SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES

 

Fair Value of Financial Instruments

AS topic 820 "Fair Value Measurements and Disclosures" establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market.

 

These tiers include:

 

Level 1: defined as observable inputs such as quoted prices in active markets;

Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and

Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

 

The carrying value of cash and the Company’s loan from shareholder approximates its fair value due to their short-term maturity.

 

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

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

 

Basic Income (Loss) Per Share

The Company computes income (loss) per share in accordance with FASB ASC 260 “Earnings per Share”. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (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. There were no potentially dilutive debt or equity instruments issued or outstanding as of September 30, 2016.

 

Comprehensive Income

Comprehensive income is defined as all changes in stockholders' deficit, exclusive of transactions with owners, such as capital investments. Comprehensive income includes net income or loss, changes in certain assets and liabilities that are reported directly in equity such as translation adjustments on investments in foreign subsidiaries and unrealized gains (losses) on available-for-sale securities. As of September 30, 2016 there were no differences between our comprehensive loss and net loss.

 

Recent Accounting Pronouncements

We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company.

 

NOTE 4 – LOAN FROM DIRECTOR

 

As of September 30, 2016 our sole director has loaned to the Company $11,400 pursuant to the Verbal Agreement. This loan is unsecured, non-interest bearing and due on demand.

 

The balance due to the director was $11,400 as of September 30, 2016.

 

 

 

 

 

8

 


 

ILLUMITRY CORP.

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2016 AND SEPTEMBER 30, 2015

 

NOTE 5 – FIXED ASSETS

 

 

Equipment

 

Website

 

Totals

Cost

 

 

 

 

 

 

As at December 31, 2015

$

4,452

$

800

$

5,252

Additions

 

-

 

-

 

-

Disposals

 

-

 

-

 

-

As at September 30, 2016

$

4,452

$

800

$

5,252

 

 

 

 

 

 

 

Depreciation

 

 

 

 

 

 

As at December 31, 2015

 

892

 

-

 

892

Change for the period

 

669

 

-

 

669

As at September 30, 2016

$

1,561

$

-

$

1,561

 

 

 

 

 

 

 

Net book value

$

2,891

$

800

$

3,691

 

We recognized depreciation expense of $1,561 in respect of equipment as of September 30, 2016. No depreciation was recognized in respect of the website from inception to September 30, 2016, as the website was not yet operational during the period.

 

NOTE 6 – STOCKHOLDERS’ EQUITY

 

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

 

On November 14, 2014, the company issued a total of 3,000,000 common shares to its founder for a cash contribution of $3,000.

 

During November 2015, the company issued a total of 25,000 common shares for cash contribution of $484 at $0.02 per share.

 

During January 2016, the company issued a total of 50,000 common shares for cash contribution of $955 at $0.02 per share.

 

During February 2016, the company issued a total of 525,000 common shares for cash contribution of $10,392 at $0.02 per share.

 

During March 2016, the company issued a total of 25,000 common shares for cash contribution of $500 at $0.02 per share.

 

There were 3,625,000 shares of common stock issued and outstanding as of September 30, 2016.

 

NOTE 7 – RESTATEMENT

 

There are adjustments in the structure of the Company’s liabilities and shareholders’ equity: $500 increase in Loan from Director and $25 decrease in Common Stock and $475 decrease in Additional Paid In Capital.

 

 

As Reported

As Restated

Loans

10,900

11,400

Common Stock

3,650

3,625

Additional Paid In Capital

12,182

11,707

 

NOTE 8 – COMMITMENTS AND CONTINGENCIES

 

Company has entered in the one year rental agreement starting on August 16, 2015 and ending on August 16, 2016, with monthly price of $200. The office is 30 square meters in underground passage on Sasunci Davit Square, Yerevan, Armenia.

 

The prepaid expense of $884 is for prepaid rent.

 

9

 


 

ILLUMITRY CORP.

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2016 AND SEPTEMBER 30, 2015

 

NOTE 9 – INCOME TAXES

 

As of September 30, 2016 and December 31, 2015, the Company had net operating loss carry forwards of approximately $19,628 and $8,978 that may be available to reduce future years’ taxable income in varying amounts through 2031. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards.

 

The provision for Federal income tax consists of the following:

 

September 30, 2016

 

December 31, 2015

    Federal income tax benefit attributable to:

 

 

 

Current Operations

$

3,621

$

3,018

Less: valuation allowance

(3,621

)

 

(3,018

)

Net provision for Federal income taxes

$

0

$

0

 

The cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows:

 

 

September 30, 2016

 

December 31, 2015

Deferred tax asset attributable to:

 

 

 

Net operating loss carryover

$

6,674

$

3,053

Less: valuation allowance

(6,674

)

 

(3,053

)

Net deferred tax asset

$

0

$

0

 

Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of approximately $19,628 as of September 30, 2016 compare to $8,978 as of December 31, 2015 for Federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur net operating loss carry forwards may be limited as to use in future years.

 

NOTE 10 – SUBSEQUENT EVENTS

 

In accordance with ASC 855-10 the Company has analyzed its operations from September 30, 2016 to October 17, 2016, the date these financial statements were issued, and has determined that it does not have any material subsequent events to disclose in these financial statements.

 

ITEM 2.

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

 

FORWARD LOOKING STATEMENT NOTICE

 

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.

 

10

 


 

Financial information contained in this quarterly report and in our unaudited interim financial statements is stated in United States dollars and are prepared in accordance with United States generally accepted accounting principles.

 

GENERAL

 

Illumitry Corp. was incorporated in the State of Nevada on October 17, 2014 and established a fiscal yearend of December 31. We have generated limited revenues, have minimal assets and have incurred losses since inception. We are a development-stage company formed to commence operations in a field of embroidery on fabric and cloth in Armenia.

 

PRODUCT

 

Our product can be represented as embroidery products. Embroidery products include, but are not limited to: logos on work wear, images on cloth, patches, embroidery on hats, jackets, and on linen, blankets, leather upholstery and others.  Our embroidery machine operates through the computer and which allows us to embroider on almost any kind of item.  The main product of our production is embroidery on fabric. With our embroidery you can complete your appearance with the special embroidery label on your cloth which you could create by your own, making it the perfect finishing touch in a total view and make you feel unique. For big companies it is very useful to make them more known and recognizable.

 

We plan to enter the market with embroidery production assortment. Illumitry Corp. specializes in embroidery production, oriented on potential customers. In Armenia, embroidery is a main part of the traditional Armenian clothing, which makes our business more attractive for customers.

 

EQUIPMENT

 

We have purchased one computer operated embroidery machine for embroidery mostly on any surface. The embroidery machine includes the machine with installed computer and all raw materials necessary for setting up and testing.

Embroidery machine is not large, is user-friendly, and is simple to operate. 

 

Technical characteristics:

 

Model Number:              ELUCKY EG1501CS

Power:                             100V/60Hz to 240V/50Hz

Weight:                             130 kg

Dimensions:                   800*800*1600MM

Max speed:                      1200SPM high speed

 

RESULTS OF OPERATIONS

 

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.

 

LIQUIDITY AND CAPITAL RESOURCES

 

As at September 30, 2016, our total assets were $7,104. Total assets were comprised of $3,413 in current assets and $3,691 in fixed assets.

 

As at September 30, 2016, our current liabilities were $11,400 and Stockholders’ equity was a deficit of $4,296.

 

CASH FLOWS FROM OPERATING ACTIVITIES

 

We have not generated positive cash flows from operating activities. For the nine months ended September 30, 2016 net cash flows used in operating activities was $11,055 and $5,459 for the nine months ended September 30, 2015.

 

11

 


 

CASH FLOWS FROM INVESTING ACTIVITIES

 

For the nine months ended September 30, 2016 and September 30, 2015 we did not have any cash flows used in investing activities.

 

CASH FLOWS FROM FINANCING ACTIVITIES

 

For the nine months ended September 30, 2016 and September 30, 2015 net cash flows used in financing activities was $12,347 and $3,000 respectively.

 

PLAN OF OPERATION AND FUNDING

 

Our cash reserves are not sufficient to meet our obligations for the next twelve months period. As a result, we will need to seek additional funding in the near future. We currently do not have a specific plan of how we will obtain such funding; however, we anticipate that additional funding will be in the form of equity financing from the sale of shares of our common stock, from selling our products and from our sole officer and director loan. Ms. Sukiasyan, our sole officer and director, has agreed to land funds to the Company. She has signed an agreement which evidencing the obligation loan funds to the Company if it is needed in case of not raising sufficient funds from this offering.

 

OFF-BALANCE SHEET ARANGEMENTS

 

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.

 

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

 

None

 

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 September 30, 2016. Based on that evaluation, our management concluded that our disclosure controls and procedures were not effective as of such date to ensure that information required to be disclosed in the reports that we file or submit under the Exchange Act, is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms.

 

Changes in Internal Controls over Financial Reporting

 

There was no change in the Company’s internal control over financial reporting during the quarterly period covered by this report that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

 

PART II.  OTHER INFORMATION

 

ITEM 1.

LEGAL PROCEEDINGS

 

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

12

 


 

 

 

ITEM 1A.

RISK FACTORS

 

None

 

ITEM 2.

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

 

None

 

ITEM 3.

DEFAULTS UPON SENIOR SECURITES

 

None

 

ITEM 4.

SUBMISSION OF MATTERS TO A VOITE OF SECURITIES HOLDERS

 

None

 

ITEM 5.

OTHER INFORMATION

 

None

 

ITEM 6.

EXHIBITS

The following exhibits are included as part of this report by reference:

 

 

 

 

31.1 

 

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

 

 

 

31.2 

 

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

 

 

 

32.1 

 

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

 

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized in the Ayasa, 53 Yerevan, Armenia, 0015, on October 25, 2016.

 

        

 

 

 

Illumitry Corp.

 

 

 

 

By:

/s/

Arusyak Sukiasyan

 

 

 

Name:

Arusyak Sukiasyan

 

 

 

Title:

President, Treasurer and Secretary

 

 

 

(Principal Executive, Financial and Accounting Officer)

 

13

 

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style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="15%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="5%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="15%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="6%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="14%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> </tr> <tr> <td valign="top" width="40%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">As at </font><font style="font-family:Times New Roman,serif;font-size:10.0pt;">December 31, 2015</font></p> </td> <td valign="top" width="5%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">$</font></p> </td> <td valign="top" width="15%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,452</font></p> </td> <td 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style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">Additions</font></p> </td> <td valign="top" width="5%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="15%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">-</font></p> </td> <td valign="top" width="5%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="15%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">-</font></p> </td> <td valign="top" width="6%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="14%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">-</font></p> </td> </tr> <tr> <td valign="top" width="40%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">Disposals</font></p> </td> <td valign="top" width="5%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="15%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">-</font></p> </td> <td valign="top" width="5%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="15%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">-</font></p> </td> <td valign="top" width="6%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="14%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">-</font></p> </td> </tr> <tr> <td valign="top" width="40%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">As at</font><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> September 30, 2016</font></p> </td> <td valign="top" width="5%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">$</font></p> </td> <td valign="top" width="15%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,452</font></p> </td> <td valign="top" width="5%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">$</font></p> </td> <td valign="top" width="15%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">800</font></p> </td> <td valign="top" width="6%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">$</font></p> </td> <td valign="top" width="14%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">5,252</font></p> </td> </tr> <tr> <td valign="top" width="40%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="5%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="15%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="5%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="15%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="6%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="14%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> </tr> <tr> <td valign="top" width="40%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">Depreciation</font></p> </td> <td valign="top" width="5%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="15%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="5%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="15%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="6%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="14%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> </tr> <tr> <td valign="top" width="40%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">As at </font><font style="font-family:Times New Roman,serif;font-size:10.0pt;">December 31, 2015</font></p> </td> <td valign="top" width="5%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="15%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">892</font></p> </td> <td valign="top" width="5%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="15%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">-</font></p> </td> <td valign="top" width="6%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="14%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">892</font></p> </td> </tr> <tr> <td valign="top" width="40%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">Change for the period</font></p> </td> <td valign="top" width="5%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="15%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">669</font></p> </td> <td valign="top" width="5%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="15%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">-</font></p> </td> <td valign="top" width="6%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="14%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">669</font></p> </td> </tr> <tr> <td valign="top" width="40%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">As at</font><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> September 30, 2016</font></p> </td> <td valign="top" width="5%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">$</font></p> </td> <td valign="top" width="15%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,561</font></p> </td> <td valign="top" width="5%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">$</font></p> </td> <td valign="top" width="15%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">-</font></p> </td> <td valign="top" width="6%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">$</font></p> </td> <td valign="top" width="14%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,561</font></p> </td> </tr> <tr> <td valign="top" width="40%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="5%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="15%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="5%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="15%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="6%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="14%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> </tr> <tr> <td valign="top" width="40%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">Net book value</font></p> </td> <td valign="top" width="5%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">$</font></p> </td> <td valign="top" width="15%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,891</font></p> </td> <td valign="top" width="5%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New 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Roman,serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">We recognized depreciation expense of $1,561 in respect of equipment as of September 30, 2016. 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style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Equipment</font></p> </td> <td valign="top" width="5%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="15%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Website</font></p> </td> <td valign="top" width="6%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="14%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">Totals </font></p> </td> </tr> <tr> <td valign="top" width="40%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">Cost</font></p> </td> <td valign="top" width="5%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="15%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="5%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="15%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="6%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="14%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> </tr> <tr> <td valign="top" width="40%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">As at </font><font style="font-family:Times New Roman,serif;font-size:10.0pt;">December 31, 2015</font></p> </td> <td valign="top" width="5%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">$</font></p> </td> <td valign="top" width="15%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,452</font></p> </td> <td valign="top" width="5%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">$</font></p> </td> <td valign="top" width="15%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">800</font></p> </td> <td valign="top" width="6%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">$</font></p> </td> <td valign="top" width="14%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">5,252</font></p> </td> </tr> <tr> <td valign="top" width="40%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">Additions</font></p> </td> <td valign="top" width="5%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="15%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">-</font></p> </td> <td valign="top" width="5%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="15%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">-</font></p> </td> <td valign="top" width="6%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="14%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">-</font></p> </td> </tr> <tr> <td valign="top" width="40%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">Disposals</font></p> </td> <td valign="top" width="5%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="15%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">-</font></p> </td> <td valign="top" width="5%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="15%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">-</font></p> </td> <td valign="top" width="6%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="14%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">-</font></p> </td> </tr> <tr> <td valign="top" width="40%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">As at</font><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> September 30, 2016</font></p> </td> <td valign="top" width="5%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">$</font></p> </td> <td valign="top" width="15%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">4,452</font></p> </td> <td valign="top" width="5%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">$</font></p> </td> <td valign="top" width="15%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">800</font></p> </td> <td valign="top" width="6%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">$</font></p> </td> <td valign="top" width="14%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">5,252</font></p> </td> </tr> <tr> <td valign="top" width="40%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="5%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="15%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="5%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="15%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="6%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="14%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> </tr> <tr> <td valign="top" width="40%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">Depreciation</font></p> </td> <td valign="top" width="5%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="15%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="5%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="15%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="6%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="14%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> </tr> <tr> <td valign="top" width="40%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">As at </font><font style="font-family:Times New Roman,serif;font-size:10.0pt;">December 31, 2015</font></p> </td> <td valign="top" width="5%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="15%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">892</font></p> </td> <td valign="top" width="5%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="15%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">-</font></p> </td> <td valign="top" width="6%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="14%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">892</font></p> </td> </tr> <tr> <td valign="top" width="40%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">Change for the period</font></p> </td> <td valign="top" width="5%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="15%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">669</font></p> </td> <td valign="top" width="5%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="15%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">-</font></p> </td> <td valign="top" width="6%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="14%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">669</font></p> </td> </tr> <tr> <td valign="top" width="40%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">As at</font><font style="font-family:Times New Roman,serif;font-size:10.0pt;"> September 30, 2016</font></p> </td> <td valign="top" width="5%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">$</font></p> </td> <td valign="top" width="15%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,561</font></p> </td> <td valign="top" width="5%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">$</font></p> </td> <td valign="top" width="15%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">-</font></p> </td> <td valign="top" width="6%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">$</font></p> </td> <td valign="top" width="14%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">1,561</font></p> </td> </tr> <tr> <td valign="top" width="40%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="5%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="15%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="5%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="15%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="6%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="14%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> </tr> <tr> <td valign="top" width="40%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">Net book value</font></p> </td> <td valign="top" width="5%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">$</font></p> </td> <td valign="top" width="15%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">2,891</font></p> </td> <td valign="top" width="5%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">$</font></p> </td> <td valign="top" width="15%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">800</font></p> </td> <td valign="top" width="6%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">$</font></p> </td> <td valign="top" width="14%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Times New Roman,serif;font-size:10.0pt;">3,691</font></p> </td> </tr> </table> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The provision for Federal income tax consists of the following:</font></p> <table border="0" cellpadding="0" cellspacing="0" width="586" style="border-collapse:collapse;margin-left:5.4pt;width:482.649994pt;"> <tr style="height:26.15pt;"> <td valign="top" width="46%" style="height:26.15pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="bottom" width="24%" style="border-bottom:solid windowtext 1.0pt;height:26.15pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">September 30, 2016</font></p> </td> <td valign="top" width="6%" style="height:26.15pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></b></p> </td> <td valign="bottom" width="24%" style="border-bottom:solid windowtext 1.0pt;height:26.15pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">December 31, 2015</font></p> </td> </tr> <tr style="height:14.25pt;"> <td valign="bottom" width="46%" style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;&#160;&#160; Federal income tax benefit attributable to:</font></p> </td> <td valign="bottom" width="24%" style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:1.7pt;margin-right:.05in;margin-top:0in;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="6%" style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:1.7pt;margin-right:.05in;margin-top:0in;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="bottom" width="24%" style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:1.7pt;margin-right:.05in;margin-top:0in;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> </tr> <tr style="height:13.5pt;"> <td valign="bottom" width="46%" style="height:13.5pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:12.6pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Current Operations</font></p> </td> <td valign="bottom" width="24%" style="height:13.5pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:1.7pt;margin-right:.05in;margin-top:0in;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 3,621 </font></p> </td> <td valign="top" width="6%" style="height:13.5pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:1.7pt;margin-right:.05in;margin-top:0in;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="bottom" width="24%" style="height:13.5pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:1.7pt;margin-right:.05in;margin-top:0in;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 3,018 </font></p> </td> </tr> <tr style="height:13.5pt;"> <td valign="bottom" width="46%" style="height:13.5pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:12.6pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Less: valuation allowance</font></p> </td> <td valign="bottom" width="24%" style="border-bottom:solid windowtext 1.0pt;height:13.5pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:1.7pt;margin-right:.05in;margin-top:0in;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">(3,621)</font></p> </td> <td valign="top" width="6%" style="height:13.5pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:1.7pt;margin-right:.05in;margin-top:0in;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="bottom" width="24%" style="border-bottom:solid windowtext 1.0pt;height:13.5pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:1.7pt;margin-right:.05in;margin-top:0in;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">(3,018)</font></p> </td> </tr> <tr style="height:13.5pt;"> <td valign="bottom" width="46%" style="height:13.5pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Net provision for Federal income taxes</font></p> </td> <td valign="bottom" width="24%" style="border-bottom:double windowtext 2pt;height:13.5pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:1.7pt;margin-right:.05in;margin-top:0in;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 0</font></p> </td> <td valign="top" width="6%" style="height:13.5pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:1.7pt;margin-right:.05in;margin-top:0in;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="bottom" width="24%" style="border-bottom:double windowtext 2pt;height:13.5pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:1.7pt;margin-right:.05in;margin-top:0in;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 0</font></p> </td> </tr> </table> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">The cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;margin-left:5.4pt;width:442.099976pt;"> <tr> <td valign="top" width="41%" style="padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="bottom" width="27%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">September 30, 2016</font></p> </td> <td valign="top" width="6%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></b></p> </td> <td valign="bottom" width="26%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">December 31, 2015</font></p> </td> </tr> <tr> <td valign="bottom" width="41%" style="padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Deferred tax asset attributable to:</font></p> </td> <td valign="bottom" width="27%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:2.35pt;margin-right:.1pt;margin-top:0in;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="top" width="6%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:2.35pt;margin-right:.1pt;margin-top:0in;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="bottom" width="26%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:2.35pt;margin-right:.1pt;margin-top:0in;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> </tr> <tr> <td valign="bottom" width="41%" style="padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:12.6pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Net operating loss carryover</font></p> </td> <td valign="bottom" width="27%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:1.7pt;margin-right:.05in;margin-top:0in;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 6,674</font></p> </td> <td valign="top" width="6%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:1.7pt;margin-right:.05in;margin-top:0in;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="bottom" width="26%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:1.7pt;margin-right:.05in;margin-top:0in;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 3,053</font></p> </td> </tr> <tr> <td valign="bottom" width="41%" style="padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:12.6pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Less: valuation allowance</font></p> </td> <td valign="bottom" width="27%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:1.7pt;margin-right:.05in;margin-top:0in;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">(6,674)</font></p> </td> <td valign="top" width="6%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:1.7pt;margin-right:.05in;margin-top:0in;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="bottom" width="26%" style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:1.7pt;margin-right:.05in;margin-top:0in;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">(3,053)</font></p> </td> </tr> <tr> <td valign="bottom" width="41%" style="padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Net deferred tax asset</font></p> </td> <td valign="bottom" width="27%" style="border-bottom:double windowtext 2pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:1.7pt;margin-right:.05in;margin-top:0in;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 0</font></p> </td> <td valign="top" width="6%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:1.7pt;margin-right:.05in;margin-top:0in;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">&#160;</font></p> </td> <td valign="bottom" width="26%" style="border-bottom:double windowtext 2pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:1.7pt;margin-right:.05in;margin-top:0in;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">$&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;0</font></p> </td> </tr> </table> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p 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style="font-family:Times New Roman,serif;font-size:10.0pt;">As Reported</font></p> </td> <td valign="top" width="25%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">As Restated</font></p> </td> </tr> <tr> <td valign="top" width="50%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">Loans</font></p> </td> <td valign="top" width="25%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">10,900</font></p> </td> <td valign="top" width="25%" style="padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Times New Roman,serif;font-size:10.0pt;">11,400</font></p> </td> </tr> <tr> <td valign="top" 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link:definitionLink 04008 - Disclosure - - STOCKHOLDERS' EQUITY link:presentationLink link:calculationLink link:definitionLink 04009 - Disclosure - - SUBSEQUENT EVENTS link:presentationLink link:calculationLink link:definitionLink 04010 - Disclosure - - SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES link:presentationLink link:calculationLink link:definitionLink 04011 - Disclosure - Significant Accounting Policies (Policies) link:presentationLink link:calculationLink link:definitionLink 04012 - Disclosure - - FIXED ASSETS (Tables) link:presentationLink link:calculationLink link:definitionLink 04013 - Disclosure - - INCOME TAXES (Tables) link:presentationLink link:calculationLink link:definitionLink 04014 - Disclosure - - RESTATEMENT (Tables) link:presentationLink link:calculationLink link:definitionLink 04015 - Disclosure - - COMMITMENTS AND CONTINGENCIES (Details Text) link:presentationLink link:calculationLink link:definitionLink 04016 - Disclosure - - FIXED ASSETS (Details 1) link:presentationLink link:calculationLink link:definitionLink 04017 - Disclosure - - FIXED ASSETS (Details Text) link:presentationLink link:calculationLink link:definitionLink 04018 - Disclosure - - INCOME TAXES (Details 1) link:presentationLink link:calculationLink link:definitionLink 04019 - Disclosure - - INCOME TAXES (Details 2) link:presentationLink link:calculationLink link:definitionLink 04020 - Disclosure - - INCOME TAXES (Details Text) link:presentationLink link:calculationLink link:definitionLink 04021 - Disclosure - - LOAN FROM DIRECTOR (Details Text) link:presentationLink link:calculationLink link:definitionLink 04022 - Disclosure - - RESTATEMENT (Details 1) link:presentationLink link:calculationLink link:definitionLink 04023 - Disclosure - - RESTATEMENT (Details Text) link:presentationLink link:calculationLink link:definitionLink 04024 - Disclosure - - STOCKHOLDERS' EQUITY (Details Text) link:presentationLink link:calculationLink link:definitionLink 04025 - Disclosure - - SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (Details Text) link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 4 none-20160930_cal.xml XBRL CALCULATION FILE EX-101.DEF 5 none-20160930_def.xml XBRL DEFINITION FILE EX-101.LAB 6 none-20160930_lab.xml XBRL LABEL FILE Document and Entity Information [Abstract] Document and Entity Information. Amendment Flag Current Fiscal Year End Date Document Fiscal Period Focus Document Fiscal Year Focus Document Period End Date Document Type Entity Central Index Key Entity Common Stock, Shares Outstanding Entity Filer Category Entity Registrant Name Accounting Policies Text Block Accounting Policies Text Accounting Policies Text Adjustments In The Text Block There are adjustments in the There are adjustments in the Cash As Of September The Company had $1,468 of cash as of September 30, 2016. The Company had $1,468 of cash as of September 30, 2016. Commitments And Contingencies [Abstract] - COMMITMENTS AND CONTINGENCIES [Abstract] - COMMITMENTS AND CONTINGENCIES [Abstract] Common Stock Restated As Restated: Common Stock As Restated: Common Stock Current Operations Current Operations Current Operations Depreciation Expense Of In Respect Of Equipment As Of June We recognized depreciation expense of $1,561 in respect of equipment as of September 30, 2016 We recognized depreciation expense of $1,338 in respect of equipment as of June 30, 2016 During February The Company Issued During February 2016, the company issued a total of 525,000 common shares for cash contribution of $10,392 at $0.02 per share. During February 2016, the company issued a total of 525,000 common shares for cash contribution of $10,392 at $0.02 per share. During January The Company Issued During January 2016, the company issued a total of 50,000 common shares for cash contribution of $955 at $0.02 per share. During January 2016, the company issued a total of 50,000 common shares for cash contribution of $955 at $0.02 per share. During March The Company Issued During March 2016, the company issued a total of 25,000 common shares for cash contribution of $500 at $0.02 per share. During March 2016, the company issued a total of 25,000 common shares for cash contribution of $500 at $0.02 per share. During November The Company Issued During November 2015, the company issued a total of 25,000 common shares for cash contribution of $484 at $0.02 per share. During November 2015, the company issued a total of 25,000 common shares for cash contribution of $484 at $0.02 per share. Equipment As At December Equipment: As at December 31, 2015 Equipment: As at December 31, 2015 Equipment As At September Equipment: As at September 30, 2016 Equipment: As at September 30, 2016 Equipment At December Equipment: As at December 31, 2015 Equipment: As at December 31, 2015 Equipment At September Equipment: As at September 30, 2016 Equipment: As at September 30, 2016 Equipment Change For The Period Equipment: Change for the period Equipment: Change for the period Equipment Net Book Value Equipment: Net book value Equipment: Net book value Expected Rate The cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows: The cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows: - GOING CONCERN [Abstract] - GOING CONCERN [Abstract] Income Taxes [Abstract] - INCOME TAXES [Abstract] - INCOME TAXES [Abstract] Loan Director To The Company As of September 30, 2016 our sole director has loaned to the Company $11,400 pursuant to the Verbal Agreement As of March 31, 2016 our sole director has loaned to the Company $11,400 pursuant to the Verbal Agreement - LOAN FROM DIRECTOR [Abstract] - LOAN FROM DIRECTOR [Abstract] LOAN FROM DIRECTOR [Abstract] Loan From Director Text Block - LOAN FROM DIRECTOR - LOAN FROM DIRECTOR Net Operating Loss Carry Forwards Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of approximately $19,628 as of September 30, 2016 compare to $8,978 as of December 31, 2015 for Federal income tax reporting purposes are subject to annual limitations net operating loss carry forwards Net Provision For Federal Income Taxes Net provision for Federal income taxes Net provision for Federal income taxes On November The Company Issued On November 14, 2014, the company issued a total of 3,000,000 common shares to its founder for a cash contribution of $3,000. On November 14, 2014, the company issued a total of 3,000,000 common shares to its founder for a cash contribution of $3,000. Par Value Shares Of Common Stock Authorized The Company has 75,000,000, $0.001 par value shares of common stock authorized. The Company has 75,000,000, $0.001 par value shares of common stock authorized. Rental Agreement Monthly Price Company has entered in the one year rental agreement starting on August 16, 2015 and ending on August 16, 2016, with monthly price of $200 The Company has entered in the one year rental agreement starting on August 16, 2015 and ending on August 16, 2016, with monthly price of $200 Reported Additional Paid In Capital As Reported: Additional Paid In Capital As Reported: Additional Paid In Capital Reported Common Stock As Reported: Common Stock As Reported: Common Stock Restatement [Abstract] - RESTATEMENT [Abstract] - RESTATEMENT [Abstract] Restatement Equity Text Block - RESTATEMENT - RESTATEMENT - RESTATEMENT (Tables) [Abstract] - RESTATEMENT (Tables) [Abstract] Shares Of Common Stock Issued And Outstanding As Of September There were 3,625,000 shares of common stock issued and outstanding as of September 30, 2016. There were 3,625,000 shares of common stock issued and outstanding as of September 30, 2016. Signifcant Accounting Policies [Abstract] - SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES [Abstract] - SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES [Abstract] The Prepaid Expense For Prepaid Rent The prepaid expense of $884 is for prepaid rent. The prepaid expense of $884 is for prepaid rent. Totals As At December Totals: As at December 31, 2015 Totals: As at December 31, 2015 Totals As At September Totals: As at September 30, 2016 Totals: As at September 30, 2016 Totals At December Totals: As at December 31, 2015 Totals: As at December 31, 2015 Totals At September Totals: As at September 30, 2016 Totals: As at September 30, 2016 Totals Change For The Period Totals: Change for the period Totals: Change for the period Totals Net Book Value Totals: Net book value Totals: Net book value Website As At December Website: As at December 31, 2015 Website: As at December 31, 2015 Website As At September Website: As at September 30, 2016 Website: As at September 30, 2016 Website At December Website: As at December 31, 2015 Website: As at December 31, 2015 Website At September Website: As at September 30, 2016 Website: As at September 30, 2016 Website Change For The Period Website: Change for the period Website: Change for the period Website Net Book Value Website: Net book value Website: Net book value Significant Accounting Policies (Policies) [Abstract] Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment Accumulated Amortization Additional Paid in Capital Additional paid-in capital Additional Paid in Capital, Common Stock As Restated: Additional Paid In Capital Amortization Amortization Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract] Adjustments to reconcile net loss to net cash (used in) operating activities: Assets Total Assets Assets [Abstract] - FIXED ASSETS [Abstract] Assets, Current Total Current Assets Assets, Current [Abstract] Current Assets Cash Cash, beginning of period Cash, end of period Cash and Cash Equivalents, at Carrying Value Cash and cash equivalents Cash, Period Increase (Decrease) NET INCREASE IN CASH - COMMITMENTS AND CONTINGENCIES [Abstract] Commitments and Contingencies Disclosure [Text Block] - COMMITMENTS AND CONTINGENCIES Common Stock, Par or Stated Value Per Share Common stock par value Common Stock, Shares Authorized Common stock shares authorized Common Stock, Shares, Issued Common stock shares issued Common Stock, Shares, Outstanding Common stock shares outstanding Common Stock, Value, Issued Common stock, par value $0.001; 75,000,000 shares authorized, 3,625,000 and 3,025,000 shares issued and outstanding respectively Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] Federal income tax benefit attributable to: Cost of Goods and Services Sold [Abstract] Cost Cost of Goods Sold Cost of Goods Sold Current State and Local Tax Expense (Benefit) PROVISION FOR INCOME TAXES Deferred Income Taxes and Other Assets [Abstract] Deferred tax asset attributable to: Deferred Tax Assets, Net of Valuation Allowance Net deferred tax asset Deferred Tax Assets, Valuation Allowance Less: valuation allowance Depreciation [Abstract] - FIXED ASSETS [Abstract] Due to Related Parties The balance due to the director was $11,400 as of September 30, 2016. Earnings Per Share, Basic and Diluted NET LOSS PER SHARE: BASIC AND DILUTED Federal Income Tax Note [Table Text Block] The provision for Federal income Fresh-Start Adjustment, Increase (Decrease), Additional Paid-in Capital There are adjustments in the structure of the Company's liabilities and shareholders' equity: $500 increase in Loan from Director and $25 decrease in Common Stock and $475 decrease in Additional Paid In Capital. General and Administrative Expense General and Administrative Expenses Gross Profit Gross Profit Income Statement [Abstract] - INCOME TAXES (Tables) [Abstract] Income Tax Disclosure [Text Block] - INCOME TAXES Income Taxes Paid, Net Income taxes paid Increase (Decrease) in Inventories Inventory Increase (Decrease) in Prepaid Expense Prepaid Expenses Interest Paid Interest paid Inventory, Gross Inventory Liabilities Total Liabilities Liabilities and Equity Total Liabilities and Shareholders' Equity Liabilities and Equity [Abstract] LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities, Current [Abstract] Current Liabilities Loans and Leases Receivable, Allowance Less: valuation allowance Loans and Leases Receivable, Gross, Consumer, Other As Restated: Loans Loans and Leases Receivable, Gross, Consumer, Real Estate As Reported: Loans Loans Payable, Current Loan from director Machinery and Equipment, Gross Equipment/Website Net Cash Provided by (Used in) Financing Activities CASH FLOWS PROVIDED BY FINANCING ACTIVITIES Net Cash Provided by (Used in) Financing Activities [Abstract] CASH FLOWS FROM FINANCING ACTIVITIES Net Cash Provided by (Used in) Investing Activities CASH FLOWS USED IN INVESTING ACTIVITIES Net Cash Provided by (Used in) Investing Activities [Abstract] CASH FLOWS FROM INVESTING ACTIVITIES Net Cash Provided by (Used in) Operating Activities CASH FLOWS USED IN OPERATING ACTIVITIES Net Income (Loss) Attributable to Parent NET LOSS Operating Cash Flows, Direct Method [Abstract] CASH FLOWS FROM OPERATING ACTIVITIES Operating Expenses TOTAL OPERATING EXPENSES Operating Expenses [Abstract] OPERATING EXPENSES Operating Income (Loss) NET LOSS FROM OPERATIONS Operating Loss Carryforwards As of September 30, 2016 and December 31, 2015, the Company had net operating loss carry forwards of approximately $19,628 and $8,978 that may be available to reduce future years' taxable income in varying amounts through 2031 Operating Loss Carryforwards, Valuation Allowance Net operating loss carryover - ORGANIZATION AND NATURE OF BUSINESS [Abstract] Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] - ORGANIZATION AND NATURE OF BUSINESS Payments to Acquire Loans Receivable Loan Payments to Acquire Other Productive Assets Purchase of Fixed Assets Prepaid Expense, Current Prepaid Expenses Proceeds from Contributions from Affiliates Additional paid in capital Proceeds from Issuance of Common Stock Proceeds from sale of common stock Net Income (Loss), Including Portion Attributable to Noncontrolling Interest Net loss for the period - FIXED ASSETS (Tables) [Abstract] Fixed Assets Property, Plant and Equipment Disclosure [Text Block] - FIXED ASSETS Property, Plant and Equipment, Net Total Fixed Assets Property, Plant and Equipment [Table Text Block] - FIXED ASSETS Retained Earnings (Accumulated Deficit) Deficit accumulated during the development stage Revenues REVENUES Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] The cumulative tax effect at Schedule of Subsequent Events [Table Text Block] - SUBSEQUENT EVENTS Significant Accounting Policies [Text Block] - SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES Statement [Line Items] Statement of Cash Flows [Abstract] Statement of Financial Position [Abstract] Statement [Table] Stockholders' Equity Attributable to Parent Total Stockholder's Equity - STOCKHOLDERS' EQUITY [Abstract] - STOCKHOLDERS' EQUITY [Abstract] - RESTATEMENT [Abstract] Stockholders' Equity Note Disclosure [Text Block] - STOCKHOLDERS' EQUITY - SUBSEQUENT EVENTS [Abstract] Substantial Doubt about Going Concern [Text Block] - GOING CONCERN Supplemental Cash Flow Information [Abstract] SUPPLEMENTAL CASH FLOW INFORMATION: Weighted Average Number of Shares Outstanding, Diluted WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED EX-101.PRE 7 none-20160930_pre.xml XBRL PRESENTATION FILE XML 8 R1.htm IDEA: XBRL DOCUMENT v3.5.0.2
Document and Entity Information - shares
9 Months Ended
Sep. 30, 2016
Dec. 31, 2015
Document and Entity Information [Abstract]    
Document Type 10-Q  
Amendment Flag false  
Document Period End Date Sep. 30, 2016  
Document Fiscal Year Focus 2016  
Document Fiscal Period Focus Q3  
Entity Registrant Name Illumitry Corp.  
Entity Central Index Key 0001636760  
Current Fiscal Year End Date --12-31  
Entity Filer Category Smaller Reporting Company  
Entity Common Stock, Shares Outstanding   75,000,000
XML 9 R2.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED BALANCE SHEETS (Unaudited) - USD ($)
Sep. 30, 2016
Dec. 31, 2015
Current Assets    
Cash and cash equivalents $ 1,468 $ 176
Inventory 1,061 871
Prepaid Expenses 884 0
Total Current Assets 3,413 1,047
Fixed Assets    
Equipment/Website 5,252 5,252
Accumulated Amortization (1,561) (892)
Total Fixed Assets 3,691 4,360
Total Assets 7,104 5,407
Current Liabilities    
Loan from director 11,400 10,900
Total Liabilities 11,400 10,900
- STOCKHOLDERS' EQUITY [Abstract]    
Common stock, par value $0.001; 75,000,000 shares authorized, 3,625,000 and 3,025,000 shares issued and outstanding respectively 3,625 3,025
Additional paid-in capital 11,707 460
Deficit accumulated during the development stage (19,628) (8,978)
Total Stockholder's Equity (4,296) (5,493)
Total Liabilities and Shareholders' Equity $ 7,104 $ 5,407
XML 10 R3.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares
Sep. 30, 2016
Dec. 31, 2015
Statement of Financial Position [Abstract]    
Common stock par value $ 0.001 $ 0.001
Common stock shares authorized 75,000,000 75,000,000
Common stock shares issued 3,625,000 3,625,000
Common stock shares outstanding 3,025,000 3,025,000
XML 11 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED STATEMENT OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss for the period $ (10,650) $ (6,569)
Adjustments to reconcile net loss to net cash (used in) operating activities:    
Inventory (190) 41
Prepaid Expenses (884) 400
Amortization 669 669
CASH FLOWS USED IN OPERATING ACTIVITIES (11,055) (5,459)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of Fixed Assets 0 0
CASH FLOWS USED IN INVESTING ACTIVITIES 0 0
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from sale of common stock 600 0
Additional paid in capital 11,247 0
Loan 500 3,000
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES 12,347 3,000
NET INCREASE IN CASH 1,292 (2,459)
Cash, beginning of period 176 3,500
Cash, end of period 1,468 1,041
SUPPLEMENTAL CASH FLOW INFORMATION:    
Interest paid 0 0
Income taxes paid $ 0 $ 0
XML 12 R5.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Income Statement [Abstract]        
REVENUES $ 5,280 $ 4,180 $ 9,680 $ 8,183
Cost of Goods Sold 714 651 1,217 651
Gross Profit 4,566 3,529 8,463 7,532
OPERATING EXPENSES        
General and Administrative Expenses 4,253 4,328 19,113 14,101
TOTAL OPERATING EXPENSES 4,253 4,328 19,113 14,101
NET LOSS FROM OPERATIONS 313 (799) (10,650) (6,569)
PROVISION FOR INCOME TAXES 0      
NET LOSS $ 313 $ (799) $ (10,650) $ (6,569)
NET LOSS PER SHARE: BASIC AND DILUTED $ 0.00 $ (0.00) $ (0.00) $ (0.00)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED 3,625,000 3,000,000 3,529,745 3,000,000
XML 13 R6.htm IDEA: XBRL DOCUMENT v3.5.0.2
- COMMITMENTS AND CONTINGENCIES
9 Months Ended
Sep. 30, 2016
- COMMITMENTS AND CONTINGENCIES [Abstract]  
- COMMITMENTS AND CONTINGENCIES

NOTE 8 - COMMITMENTS AND CONTINGENCIES

 

Company has entered in the one year rental agreement starting on August 16, 2015 and ending on August 16, 2016, with monthly price of $200. The office is 30 square meters in underground passage on Sasunci Davit Square, Yerevan, Armenia.

 

The prepaid expense of $884 is for prepaid rent.

 

ILLUMITRY CORP.

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2016 AND SEPTEMBER 30, 2015

 

XML 14 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
- FIXED ASSETS
9 Months Ended
Sep. 30, 2016
- FIXED ASSETS (Tables) [Abstract]  
- FIXED ASSETS

NOTE 5 - FIXED ASSETS

 

 

Equipment

 

Website

 

Totals

Cost

 

 

 

 

 

 

As at December 31, 2015

$

4,452

$

800

$

5,252

Additions

 

-

 

-

 

-

Disposals

 

-

 

-

 

-

As at September 30, 2016

$

4,452

$

800

$

5,252

 

 

 

 

 

 

 

Depreciation

 

 

 

 

 

 

As at December 31, 2015

 

892

 

-

 

892

Change for the period

 

669

 

-

 

669

As at September 30, 2016

$

1,561

$

-

$

1,561

 

 

 

 

 

 

 

Net book value

$

2,891

$

800

$

3,691

 

We recognized depreciation expense of $1,561 in respect of equipment as of September 30, 2016. No depreciation was recognized in respect of the website from inception to September 30, 2016, as the website was not yet operational during the period.

 

XML 15 R8.htm IDEA: XBRL DOCUMENT v3.5.0.2
- GOING CONCERN
9 Months Ended
Sep. 30, 2016
- GOING CONCERN [Abstract]  
- GOING CONCERN

NOTE 2 - GOING CONCERN

 

The accompanying financial statements have been prepared in conformity with generally accepted accounting principles, which contemplate continuation of the Company as a going concern.  However, the Company had limited revenues and incurred losses as of September 30, 2016.  The Company currently has negative 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. Therefore, there is substantial doubt about the Company's ability to continue as a going concern.

 

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 will 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.

 

The Company's unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates. The accompanying unaudited condensed financial statements reflect all adjustments, consisting of only normal recurring items, which, in the opinion of management, are necessary for a fair statement of the results of operations for the period shown and are not necessarily indicative of the results to be expected for the full year ending December 31, 2016. These unaudited condensed financial statements should be read in conjunction with the audited financial statements and related notes for the year ended December 31, 2015.

 

XML 16 R9.htm IDEA: XBRL DOCUMENT v3.5.0.2
- INCOME TAXES
9 Months Ended
Sep. 30, 2016
- INCOME TAXES (Tables) [Abstract]  
- INCOME TAXES

NOTE 9 - INCOME TAXES

 

As of September 30, 2016 and December 31, 2015, the Company had net operating loss carry forwards of approximately $19,628 and $8,978 that may be available to reduce future years' taxable income in varying amounts through 2031. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards.

 

The provision for Federal income tax consists of the following:

 

September 30, 2016

 

December 31, 2015

    Federal income tax benefit attributable to:

 

 

 

Current Operations

$            3,621

 

$                 3,018

Less: valuation allowance

(3,621)

 

(3,018)

Net provision for Federal income taxes

$                    0

 

$                    0

 

The cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows:

 

 

September 30, 2016

 

December 31, 2015

Deferred tax asset attributable to:

 

 

 

Net operating loss carryover

$             6,674

 

$                  3,053

Less: valuation allowance

(6,674)

 

(3,053)

Net deferred tax asset

$                    0

 

$                    0

 

Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of approximately $19,628 as of September 30, 2016 compare to $8,978 as of December 31, 2015 for Federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur net operating loss carry forwards may be limited as to use in future years.

 

XML 17 R10.htm IDEA: XBRL DOCUMENT v3.5.0.2
- LOAN FROM DIRECTOR
9 Months Ended
Sep. 30, 2016
- LOAN FROM DIRECTOR [Abstract]  
- LOAN FROM DIRECTOR

NOTE 4 - LOAN FROM DIRECTOR

 

As of September 30, 2016 our sole director has loaned to the Company $11,400 pursuant to the Verbal Agreement. This loan is unsecured, non-interest bearing and due on demand.

 

The balance due to the director was $11,400 as of September 30, 2016.

 

 

 

 

 

ILLUMITRY CORP.

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2016 AND SEPTEMBER 30, 2015

 

XML 18 R11.htm IDEA: XBRL DOCUMENT v3.5.0.2
- ORGANIZATION AND NATURE OF BUSINESS
9 Months Ended
Sep. 30, 2016
- ORGANIZATION AND NATURE OF BUSINESS [Abstract]  
- ORGANIZATION AND NATURE OF BUSINESS

NOTE 1 - ORGANIZATION AND NATURE OF BUSINESS

 

Illumitry Corp. (“the Company”, “we”, “us” or “our”) was incorporated in the State of Nevada on October 17, 2014. We are a development-stage company formed to commence operations in a field of embroidery on fabric, furnishings, and clothing in Armenia.

 

XML 19 R12.htm IDEA: XBRL DOCUMENT v3.5.0.2
- RESTATEMENT
9 Months Ended
Sep. 30, 2016
- RESTATEMENT [Abstract]  
- RESTATEMENT

NOTE 7 - RESTATEMENT

 

There are adjustments in the structure of the Company's liabilities and shareholders' equity: $500 increase in Loan from Director and $25 decrease in Common Stock and $475 decrease in Additional Paid In Capital.

 

 

As Reported

As Restated

Loans

10,900

11,400

Common Stock

3,650

3,625

Additional Paid In Capital

12,182

11,707

 

XML 20 R13.htm IDEA: XBRL DOCUMENT v3.5.0.2
- STOCKHOLDERS' EQUITY
9 Months Ended
Sep. 30, 2016
- STOCKHOLDERS' EQUITY [Abstract]  
- STOCKHOLDERS' EQUITY

NOTE 6 - STOCKHOLDERS' EQUITY

 

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

 

On November 14, 2014, the company issued a total of 3,000,000 common shares to its founder for a cash contribution of $3,000.

 

During November 2015, the company issued a total of 25,000 common shares for cash contribution of $484 at $0.02 per share.

 

During January 2016, the company issued a total of 50,000 common shares for cash contribution of $955 at $0.02 per share.

 

During February 2016, the company issued a total of 525,000 common shares for cash contribution of $10,392 at $0.02 per share.

 

During March 2016, the company issued a total of 25,000 common shares for cash contribution of $500 at $0.02 per share.

 

There were 3,625,000 shares of common stock issued and outstanding as of September 30, 2016.

 

XML 21 R14.htm IDEA: XBRL DOCUMENT v3.5.0.2
- SUBSEQUENT EVENTS
9 Months Ended
Sep. 30, 2016
- SUBSEQUENT EVENTS [Abstract]  
- SUBSEQUENT EVENTS

NOTE 10 - SUBSEQUENT EVENTS

 

In accordance with ASC 855-10 the Company has analyzed its operations from September 30, 2016 to October 17, 2016, the date these financial statements were issued, and has determined that it does not have any material subsequent events to disclose in these financial statements.

 

XML 22 R15.htm IDEA: XBRL DOCUMENT v3.5.0.2
- SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES
9 Months Ended
Sep. 30, 2016
Significant Accounting Policies (Policies) [Abstract]  
- SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES

NOTE 3 - SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES

 

Basis of presentation

The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America, and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) and reflect all adjustments, consisting of normal recurring adjustments, which management believes are necessary to fairly present the financial position, results of operations and cash flows of the Company for the nine months period ended September 30, 2016 and September 30, 2015.

 

Cash and Cash Equivalents

The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company had $1,468 of cash as of September 30, 2016.

 

Income Taxes

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

 

Revenue Recognition

The Company will recognize revenue in accordance with ASC topic 605 “Revenue Recognition”. The Company recognizes revenue when products are fully delivered or services have been provided and collection is reasonably assured.

 

 

 

ILLUMITRY CORP.

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2016 AND SEPTEMBER 30, 2015

 

NOTE 3 - SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES

 

Fair Value of Financial Instruments

AS topic 820 "Fair Value Measurements and Disclosures" establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market.

 

These tiers include:

 

Level 1: defined as observable inputs such as quoted prices in active markets;

Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and

Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

 

The carrying value of cash and the Company's loan from shareholder approximates its fair value due to their short-term maturity.

 

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

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

 

Basic Income (Loss) Per Share

The Company computes income (loss) per share in accordance with FASB ASC 260 “Earnings per Share”. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (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. There were no potentially dilutive debt or equity instruments issued or outstanding as of September 30, 2016.

 

Comprehensive Income

Comprehensive income is defined as all changes in stockholders' deficit, exclusive of transactions with owners, such as capital investments. Comprehensive income includes net income or loss, changes in certain assets and liabilities that are reported directly in equity such as translation adjustments on investments in foreign subsidiaries and unrealized gains (losses) on available-for-sale securities. As of September 30, 2016 there were no differences between our comprehensive loss and net loss.

 

Recent Accounting Pronouncements

We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company.

 

XML 23 R16.htm IDEA: XBRL DOCUMENT v3.5.0.2
Significant Accounting Policies (Policies)
9 Months Ended
Sep. 30, 2016
Significant Accounting Policies (Policies) [Abstract]  
Accounting Policies Text

 

Basis of presentation

The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America, and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) and reflect all adjustments, consisting of normal recurring adjustments, which management believes are necessary to fairly present the financial position, results of operations and cash flows of the Company for the nine months period ended September 30, 2016 and September 30, 2015.

 

Cash and Cash Equivalents

The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company had $1,468 of cash as of September 30, 2016.

 

Income Taxes

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

 

Revenue Recognition

The Company will recognize revenue in accordance with ASC topic 605 “Revenue Recognition”. The Company recognizes revenue when products are fully delivered or services have been provided and collection is reasonably assured.

 

 

 

ILLUMITRY CORP.

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2016 AND SEPTEMBER 30, 2015

 

 

Fair Value of Financial Instruments

AS topic 820 "Fair Value Measurements and Disclosures" establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market.

 

These tiers include:

 

Level 1: defined as observable inputs such as quoted prices in active markets;

Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and

Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

 

The carrying value of cash and the Company's loan from shareholder approximates its fair value due to their short-term maturity.

 

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

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

 

Basic Income (Loss) Per Share

The Company computes income (loss) per share in accordance with FASB ASC 260 “Earnings per Share”. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (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. There were no potentially dilutive debt or equity instruments issued or outstanding as of September 30, 2016.

 

Comprehensive Income

Comprehensive income is defined as all changes in stockholders' deficit, exclusive of transactions with owners, such as capital investments. Comprehensive income includes net income or loss, changes in certain assets and liabilities that are reported directly in equity such as translation adjustments on investments in foreign subsidiaries and unrealized gains (losses) on available-for-sale securities. As of September 30, 2016 there were no differences between our comprehensive loss and net loss.

 

Recent Accounting Pronouncements

We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company.

 

XML 24 R17.htm IDEA: XBRL DOCUMENT v3.5.0.2
- FIXED ASSETS (Tables)
9 Months Ended
Sep. 30, 2016
- FIXED ASSETS (Tables) [Abstract]  
- FIXED ASSETS

NOTE 5 - FIXED ASSETS

 

 

Equipment

 

Website

 

Totals

Cost

 

 

 

 

 

 

As at December 31, 2015

$

4,452

$

800

$

5,252

Additions

 

-

 

-

 

-

Disposals

 

-

 

-

 

-

As at September 30, 2016

$

4,452

$

800

$

5,252

 

 

 

 

 

 

 

Depreciation

 

 

 

 

 

 

As at December 31, 2015

 

892

 

-

 

892

Change for the period

 

669

 

-

 

669

As at September 30, 2016

$

1,561

$

-

$

1,561

 

 

 

 

 

 

 

Net book value

$

2,891

$

800

$

3,691

XML 25 R18.htm IDEA: XBRL DOCUMENT v3.5.0.2
- INCOME TAXES (Tables)
9 Months Ended
Sep. 30, 2016
- INCOME TAXES (Tables) [Abstract]  
The provision for Federal income

The provision for Federal income tax consists of the following:

 

September 30, 2016

 

December 31, 2015

    Federal income tax benefit attributable to:

 

 

 

Current Operations

$            3,621

 

$                 3,018

Less: valuation allowance

(3,621)

 

(3,018)

Net provision for Federal income taxes

$                    0

 

$                    0

The cumulative tax effect at

The cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows:

 

 

September 30, 2016

 

December 31, 2015

Deferred tax asset attributable to:

 

 

 

Net operating loss carryover

$             6,674

 

$                  3,053

Less: valuation allowance

(6,674)

 

(3,053)

Net deferred tax asset

$                    0

 

$                    0

XML 26 R19.htm IDEA: XBRL DOCUMENT v3.5.0.2
- RESTATEMENT (Tables)
9 Months Ended
Sep. 30, 2016
- RESTATEMENT (Tables) [Abstract]  
There are adjustments in the

There are adjustments in the structure of the Company's liabilities and shareholders' equity: $500 increase in Loan from Director and $25 decrease in Common Stock and $475 decrease in Additional Paid In Capital.

 

 

As Reported

As Restated

Loans

10,900

11,400

Common Stock

3,650

3,625

Additional Paid In Capital

12,182

11,707

XML 27 R20.htm IDEA: XBRL DOCUMENT v3.5.0.2
- COMMITMENTS AND CONTINGENCIES (Details Text)
Aug. 16, 2016
USD ($)
Commitments And Contingencies [Abstract]  
Company has entered in the one year rental agreement starting on August 16, 2015 and ending on August 16, 2016, with monthly price of $200 $ 200
The prepaid expense of $884 is for prepaid rent. $ 884
XML 28 R21.htm IDEA: XBRL DOCUMENT v3.5.0.2
- FIXED ASSETS (Details 1)
Sep. 30, 2016
USD ($)
Cost  
Equipment: As at December 31, 2015 $ 4,452
Website: As at December 31, 2015 800
Totals: As at December 31, 2015 5,252
Equipment: As at September 30, 2016 4,452
Website: As at September 30, 2016 800
Totals: As at September 30, 2016 5,252
- FIXED ASSETS [Abstract]  
Equipment: As at December 31, 2015 892
Totals: As at December 31, 2015 892
Equipment: Change for the period 669
Totals: Change for the period 669
Equipment: As at September 30, 2016 1,561
Website: As at September 30, 2016 0
Totals: As at September 30, 2016 1,561
Equipment: Net book value 2,891
Website: Net book value 800
Totals: Net book value $ 3,691
XML 29 R22.htm IDEA: XBRL DOCUMENT v3.5.0.2
- FIXED ASSETS (Details Text)
Sep. 30, 2016
USD ($)
Depreciation [Abstract]  
We recognized depreciation expense of $1,561 in respect of equipment as of September 30, 2016 $ 1,561
XML 30 R23.htm IDEA: XBRL DOCUMENT v3.5.0.2
- INCOME TAXES (Details 1) - USD ($)
Sep. 30, 2016
Dec. 31, 2015
Federal income tax benefit attributable to:    
Current Operations $ 3,621 $ 3,018
Less: valuation allowance (3,621) (3,018)
Net provision for Federal income taxes $ 0 $ 0
XML 31 R24.htm IDEA: XBRL DOCUMENT v3.5.0.2
- INCOME TAXES (Details 2) - USD ($)
Sep. 30, 2016
Dec. 31, 2015
Deferred tax asset attributable to:    
Net operating loss carryover $ 6,674 $ 3,053
Less: valuation allowance (6,674) (3,053)
Net deferred tax asset $ 0 $ 0
XML 32 R25.htm IDEA: XBRL DOCUMENT v3.5.0.2
- INCOME TAXES (Details Text)
Sep. 30, 2016
USD ($)
Income Taxes [Abstract]  
As of September 30, 2016 and December 31, 2015, the Company had net operating loss carry forwards of approximately $19,628 and $8,978 that may be available to reduce future years' taxable income in varying amounts through 2031 $ 19,628
The cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows: 34.00%
Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of approximately $19,628 as of September 30, 2016 compare to $8,978 as of December 31, 2015 for Federal income tax reporting purposes are subject to annual limitations $ 8,978
XML 33 R26.htm IDEA: XBRL DOCUMENT v3.5.0.2
- LOAN FROM DIRECTOR (Details Text)
Sep. 30, 2016
USD ($)
- LOAN FROM DIRECTOR [Abstract]  
As of September 30, 2016 our sole director has loaned to the Company $11,400 pursuant to the Verbal Agreement $ 11,400
The balance due to the director was $11,400 as of September 30, 2016. $ 11,400
XML 34 R27.htm IDEA: XBRL DOCUMENT v3.5.0.2
- RESTATEMENT (Details 1)
Sep. 30, 2016
USD ($)
Restatement [Abstract]  
As Reported: Loans $ 10,900
As Restated: Loans 11,400
As Reported: Common Stock 3,650
As Restated: Common Stock 3,625
As Reported: Additional Paid In Capital 12,182
As Restated: Additional Paid In Capital $ 11,707
XML 35 R28.htm IDEA: XBRL DOCUMENT v3.5.0.2
- RESTATEMENT (Details Text)
Sep. 30, 2016
USD ($)
Restatement [Abstract]  
There are adjustments in the structure of the Company's liabilities and shareholders' equity: $500 increase in Loan from Director and $25 decrease in Common Stock and $475 decrease in Additional Paid In Capital. $ 500
XML 36 R29.htm IDEA: XBRL DOCUMENT v3.5.0.2
- STOCKHOLDERS' EQUITY (Details Text)
Sep. 30, 2016
USD ($)
shares
- STOCKHOLDERS' EQUITY [Abstract]  
The Company has 75,000,000, $0.001 par value shares of common stock authorized. $ 0.001
On November 14, 2014, the company issued a total of 3,000,000 common shares to its founder for a cash contribution of $3,000. 3,000
During November 2015, the company issued a total of 25,000 common shares for cash contribution of $484 at $0.02 per share. 484
During January 2016, the company issued a total of 50,000 common shares for cash contribution of $955 at $0.02 per share. 955
During February 2016, the company issued a total of 525,000 common shares for cash contribution of $10,392 at $0.02 per share. 10,392
During March 2016, the company issued a total of 25,000 common shares for cash contribution of $500 at $0.02 per share. $ 500
There were 3,625,000 shares of common stock issued and outstanding as of September 30, 2016. | shares 3,625,000
XML 37 R30.htm IDEA: XBRL DOCUMENT v3.5.0.2
- SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (Details Text)
Sep. 30, 2016
USD ($)
Signifcant Accounting Policies [Abstract]  
The Company had $1,468 of cash as of September 30, 2016. $ 1,468
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