UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q/A
(Mark One)
X . QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.
For the quarterly period ended June 30, 2011.
or
. 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: 000-53498
Smartdata Corporation
(Exact name of registrant as specified in its charter)
Nevada | 87-0449945 |
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
PO BOX 573633, Murray | 84157 |
(Address of principal executive offices) | (Zip Code) |
(801) 557-6748
(Registrant's telephone number, including area code)
_______________________________________________________
(Former name, former address and former fiscal year, if changed since last report)
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 X . No .
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer | . | Accelerated filer | . |
Non-accelerated filer | . (Do not check if a smaller reporting company) | Smaller reporting company | X . |
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes X . No .
APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
PROCEEDINGS DURING THE PRECEDING FIVE YEARS:
Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court.
Yes . No .
APPLICABLE ONLY TO CORPORATE ISSUERS:
Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of August 11, 2011: 35,976,781
Explanatory Note
The sole purpose of this Amendment No. 1 to the Quarterly Report on Form 10-Q (the "Form 10-Q") of Smartdata Corporation for the quarterly period ended June 30, 2011, filed with the Securities and Exchange Commission on August 22, 2011, is to furnish Exhibit 101 to the Form 10-Q in accordance with Rule 405 of Regulation S-T. Exhibit 101 to the Form 10-Q provides the financial statements and related notes from the Form 10-Q formatted in XBRL (eXtensible Business Reporting Language).
No other changes have been made to the Form 10-Q. This Amendment No. 1 to the Form 10-Q speaks as of the original filing date of the Form 10-Q, does not reflect events that may have occurred subsequent to the original filing date, and does not modify or update in any way disclosures made in the original Form 10-Q.
Pursuant to Rule 406T of Regulation S-T, the interactive data files on Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.
2
PART II - OTHER INFORMATION
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K.
(a) Exhibits
Copies of the following documents are included as exhibits to this report pursuant to Item 601 of Regulation S-K.
Exhibit No. | Title of Document |
| Location |
31 | Certification of the Principal Executive Officer/ Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
| * |
32 | Certification of the Principal Executive Officer/ Principal Financial Officer pursuant to U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002* |
| * |
101.INS** | XBRL Instance Document |
| Attached |
101.SCH** | XBRL Taxonomy Extension Schema Document |
| Attached |
101.CAL** | XBRL Taxonomy Extension Calculation Linkbase Document |
| Attached |
101.DEF** | XBRL Taxonomy Extension Definition Linkbase Document |
| Attached |
101.LAB** | XBRL Taxonomy Extension Label Linkbase Document |
| Attached |
101.PRE** | XBRL Taxonomy Extension Presentation Linkbase Document |
| Attached |
101.INS** | XBRL Instance Document |
| Attached |
*Filed with original Form 10-Q on August 22, 2011.
**XBRL information is furnished and not filed for purposes of Sections 11 and 12 of the Securities Act of 1933 and Section 18 of the Securities Exchange Act of 1934, and is not subject to liability under those sections, is not part of any registration statement or prospectus to which it relates and is not incorporated or deemed to be incorporated by reference into any registration statement, prospectus or other document.
*** The Exhibits attached to this Form 10-Q shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to liability under that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
(b) Reports on Form 8-K
None
3
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.
Smartdata Corporation
Date: September 13, 2011
By: /s/ Burkeley Priest
Burkeley Priest, President, CEO and CFO
4
CONDENSED BALANCE SHEET PARENTHETICALS (USD $)
|
Jun. 30, 2011
|
Sep. 30, 2010
|
---|---|---|
Common stock, par or stated value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 50,000,000 | 50,000,000 |
Common Stock, shares issued | 35,976,781 | 35,976,781 |
Common Stock, shares outstanding | 35,976,781 | 35,976,781 |
Unaudited Condensed Statements of Operations (USD $)
|
3 Months Ended | 9 Months Ended | 240 Months Ended | ||
---|---|---|---|---|---|
Jun. 30, 2011
|
Jun. 30, 2010
|
Jun. 30, 2011
|
Jun. 30, 2010
|
Jun. 30, 2011
|
|
Revenues | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 |
General and Administrative Expenses | 9,061 | 1,585 | 11,531 | 17,709 | 287,040 |
Loss from Operations | (9,061) | (1,585) | (11,531) | (17,709) | (287,040) |
Gain on Forgiveness of Debt | 0 | 0 | 0 | 2,353 | 2,353 |
Interest Expense | (957) | 0 | (2,642) | 0 | (4,291) |
Total Other Income (Expense) | (957) | 0 | (2,642) | 2,353 | (1,938) |
Net Income (Loss) before income taxes | (10,018) | (1,585) | (14,173) | (15,356) | (288,978) |
Income Taxes | 0 | 0 | 0 | 0 | 0 |
Net Income (Loss) | $ (10,018) | $ (1,585) | $ (14,173) | $ (15,356) | $ (288,978) |
Basic and Diluted Loss per share | $ (0.01) | $ (0.01) | $ (0.01) | $ (0.01) | Â |
Weighted average number of common shares outstanding | 35,976,781 | 35,876,781 | 35,976,781 | 35,876,781 | Â |
Document and Entity Information
|
9 Months Ended | |
---|---|---|
Jun. 30, 2011
|
Aug. 11, 2011
|
|
Document and Entity Information | Â | Â |
Entity Registrant Name | SMARTDATA CORP | Â |
Document Type | 10-Q | Â |
Document Period End Date | Jun. 30, 2011 | |
Amendment Flag | false | Â |
Entity Central Index Key | 0000827876 | Â |
Current Fiscal Year End Date | --09-30 | Â |
Entity Common Stock, Shares Outstanding | Â | 35,976,781 |
Entity Filer Category | Smaller Reporting Company | Â |
Entity Current Reporting Status | Yes | Â |
Entity Voluntary Filers | No | Â |
Entity Well-known Seasoned Issuer | No | Â |
Document Fiscal Year Focus | 2011 | Â |
Document Fiscal Period Focus | Q3 | Â |
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NOTES PAYABLE - RELATED PARTY
|
9 Months Ended |
---|---|
Jun. 30, 2011
|
|
NOTES PAYABLE - RELATED PARTY | Â |
NOTES PAYABLE - RELATED PARTY | NOTE 3 - NOTES PAYABLE RELATED PARTY
Through June 30, 2011, the Company had received $52,381 in advances from certain officers of the Company under promissory notes. A balance of $33,318 is still outstanding on these notes. The notes bear no interest and are payable on demand. Although the notes bear no interest, the Company imputed interest at a rate of 8% and during the nine month period ended June 30, 2011 recognized $2,294 in interest expense with an increase to additional paid in capital for the same amount. |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
|
9 Months Ended |
---|---|
Jun. 30, 2011
|
|
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | Â |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The accompanying condensed financial statements have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. In the opinion of management, the interim financial statements reflect all adjustments, consisting of normal recurring adjustments, which are necessary for a fair presentation of the results for the periods presented. Certain information and disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company's Annual Report for the year ended September 30, 2010. The operating results for the periods presented are not necessarily indicative of the operating results for the full year. |
NEW ACCOUNTING STANDARDS
|
9 Months Ended |
---|---|
Jun. 30, 2011
|
|
NEW ACCOUNTING STANDARDS | Â |
NEW ACCOUNTING STANDARDS | NOTE 4 - NEW ACCOUNTING STANDARDS
In January 2010, the FASB issued ASU 2010-6, Improving Disclosures About Fair Value Measurements, which requires reporting entities to make new disclosures about recurring or nonrecurring fair-value measurements including significant transfers into and out of Level 1 and Level 2 fair-value measurements and information on purchases, sales, issuances, and settlements on a gross basis in the reconciliation of Level 3 fair- value measurements. ASU 2010-6 is effective for annual reporting periods beginning after December 15, 2009, except for Level 3 reconciliation disclosures which are effective for annual periods beginning after December 15, 2010. We do not expect the adoption of ASU 2010-6 to have a material impact on our financial statements. |
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Unaudited Condensed Statements of Cash Flows (USD $)
|
9 Months Ended | 240 Months Ended | |
---|---|---|---|
Jun. 30, 2011
|
Jun. 30, 2010
|
Jun. 30, 2011
|
|
Net Income (Loss) | $ (14,173) | $ (15,356) | $ (288,978) |
Gain on forgiveness of debt | 0 | (2,353) | (2,353) |
Non-cash interest expense | 2,294 | 0 | 3,943 |
Shares issued for services | 0 | 0 | 11,450 |
Increase (decrease) in accounts payable | 1,079 | (2,861) | 9,130 |
Increase in debt - Related Party | 6,483 | 20,570 | 52,381 |
Net Cash From Operating Activities | (4,317) | 0 | (214,427) |
Net Cash From Investing Activities | 0 | 0 | 0 |
Issuance of Notes Payable | 5,000 | 0 | 15,150 |
Proceeds from issuances of common stock | 0 | 0 | 200,000 |
Net Cash From Financing Activities | 5,000 | 0 | 215,150 |
Net Increase (Decrease) in Cash | 683 | 0 | 723 |
Beginning Cash Balance | 40 | 0 | 0 |
Ending Cash Balance | 723 | 0 | 723 |
Interest paid | 0 | 0 | 0 |
Income taxes paid | $ 0 | $ 0 | $ 0 |
Common Stock issued for Debt | 0 | 0 | 19,213 |
GOING CONCERN
|
9 Months Ended |
---|---|
Jun. 30, 2011
|
|
GOING CONCERN | Â |
GOING CONCERN | NOTE 2 GOING CONCERN
The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate continuation of the Company as a going concern. However, the Company has incurred losses since its inception and has no revenue-generating activities. These factors raise substantial doubt about the ability of the Company to continue as a going concern. In this regard, management is seeking potential business opportunities and is proposing to raise any necessary additional funds not provided by operations through loans and/or through additional sales of its common stock. There is no assurance that the Company will be successful in raising additional capital or achieving profitable operations. The financial statements do not include any adjustments that might result from the outcome of these uncertainties. |
CONDENSED BALANCE SHEETS (USD $)
|
Jun. 30, 2011
|
Sep. 30, 2010
|
---|---|---|
Cash | $ 723 | $ 40 |
Total Current Assets | 723 | 40 |
Total Assets | 723 | 40 |
Accounts Payable | 6,777 | 5,699 |
Convertible Promissory Note | 15,000 | 10,000 |
Payable to Shareholder | 33,318 | 26,835 |
Total Current Liabilities | 55,095 | 42,534 |
Total Liabilities | 55,095 | 42,534 |
Common Stock - 50,000,000 shares authorized having a par value of $0.001 per share; 35,976,781 shares issued and outstanding, as of June 30, 2011 and September 30, 2010; respectively | 35,977 | 35,977 |
Capital in Excess of par value | 198,629 | 196,335 |
Deficit accumulated during the development stage | (288,978) | (274,806) |
Total Stockholders' Equity (Deficit) | (54,372) | (42,494) |
Total Liabilities and Stockholders' Equity (Deficit) | $ 723 | $ 40 |