10-Q

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

FORM 10-Q
________________________________

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

For the quarterly period ended March 31, 2016

Commission file number 0-19041

USA EQUITIES CORP.
(Exact Name Of Registrant As Specified In Its Charter)

Delaware	11-2655906
(State of Incorporation)	(I.R.S. Employer Identification No.)
40 Wall Street, 28th Floor, New York, NY	10005
(Address of Principal Executive Offices)	(ZIP Code)

 Registrant's Telephone Number, Including Area Code: (212) 400-7198

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 ¨

On May 26, 2016, the Registrant had 3,588,740 shares of common stock outstanding.

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

Large accelerated filer ¨ Accelerated filer ¨ Non-Accelerated filer ¨ Smaller reporting company x

TABLE OF CONTENTS

Item	Description	Page
	PART I - FINANCIAL INFORMATION
ITEM 1.	FINANCIAL STATEMENTS.	3
ITEM 2.	MANAGEMENT'S DISCUSSION AND ANALYSIS AND PLAN OF OPERATION.	8
ITEM 3.	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.	9
ITEM 4.	CONTROLS AND PROCEDURES.	9
	PART II - OTHER INFORMATION
ITEM 1.	LEGAL PROCEEDINGS.	10
ITEM 1A.	RISK FACTORS.	10
ITEM 2.	UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.	10
ITEM 3.	DEFAULT UPON SENIOR SECURITIES.	10
ITEM 4.	MINE SAFETY DISCLOSURE.	10
ITEM 5.	OTHER INFORMATION.	10
ITEM 6.	EXHIBITS.	10

PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS Back to Table of Contents

Consolidated Balance Sheets - March 31, 2016 (Unaudited) and December 31, 2015	3
Consolidated Statements of Operations - Three Months Ended March 31, 2016 and 2015 (Unaudited)	4
Consolidated Statements of Cash Flows - Three Months Ended March 31, 2016 and 2015 (Unaudited)	5
Notes to Consolidated Unaudited Interim Financial Statements	6

USA Equities Corp.
(f/k/a American Biogenetic Sciences, Inc.)
Consolidated Balance Sheets
As of March 31, 2016 and December 31, 2015
Back to Table of Contents
		March 31, 2016		December 31, 2015
		(Unaudited)		(audited)
Assets
Total Assets	$	-	$	-
Liabilities and Stockholders' Deficit
Current Liabilities:
Accounts payable  -  trade	$	19,857	$	12,906
Accrued expenses		64,620		61,783
Advances from and accruals due to related party		60,219		56,410
Total current liabilities		144,696		131,099
Total long-term liabilities		329,181		329,181
Total liabilities		473,877		460,280
Stockholders' Deficit:
Preferred stock, 10,000,000 shares authorized, $0.0001 par value;
none issued and outstanding		-		-
Common stock, 900,000,000 shares authorized, $0.0001 par value;
3,588,740 and 5,988,740 shares issued and outstanding at March 31, 2016 and December 31, 2015, respectively		359		599
Additional paid-in capital		720,941		1,368,701
Common stock subscriptions receivable		-		(648,000)
Accumulated deficit		(1,195,177)		(1,181,580)
Total stockholders' deficit		(473,877)		(460,280)
Total liabilities and stockholders' deficit	$	-	$	-
See accompanying notes to unaudited interim consolidated financial statements.

USA Equities Corp.
(f/k/a American Biogenetic Sciences, Inc.)
Consolidated Statements of Operations
For the Three Months ended March 31, 2016 and 2015
Back to Table of Contents
		Three Months Ended		Three Months Ended
		March 31, 2016		March 31, 2015
Revenue	$	-	$	-
Costs and Expenses:
General and administrative		10,760		7,738
Interest		2,837		2,839
Total general and administrative expenses		13,597		10,577
Net operating loss		(13,597)		(10,577)
Income taxes		-		-
Net loss	$	(13,597)	$	(10,577)
Basic and diluted net loss	$	(0.00)	$	(0.00)
Weighted average shares outstanding (basic and diluted)		5,988,740		1,088,740
See accompanying notes to unaudited interim consolidated financial statements.

USA Equities Corp.
(f/k/a American Biogenetic Sciences, Inc.)
Consolidated Statements of Cash Flows
For the Three Months Ended March 31, 2016 and 2015
Back to Table of Contents
		Three Months Ended		Three Months Ended
		March 31, 2016		March 31, 2015
Cash flows used by operating activities	$		$
Net loss		(13,597)		(10,577)
Changes in net assets and liabilities:
Increase in accounts payable and accrued expenses		9,788		839
Cash flows used in operating activities		(3,809)		(9,738)
Cash flows from financing activities:
Proceeds of related party borrowings		3,809		9,738
Cash provided by financing activities		3,809		9,738
Change in cash		-		-
Cash - beginning of year		-		-
Cash - end of year	$	-	$	-
See accompanying notes to unaudited interim consolidated financial statements.

USA Equities Corp.
Notes to Unaudited Interim Consolidated Financial Statements
March 31, 2016
Back to Table of Contents

Note 1. The Company

USA Equities Corp, (f/k/a American Biogenetic Sciences, Inc.) (the "Company", "We" or the "Registrant") was incorporated in Delaware on September 1, 1983. Prior to ceasing its operations in 2002, the Company was engaged in the research, development and production of bio-pharmaceutical products. On September 19, 2002, the Registrant filed for bankruptcy under the U.S. Bankruptcy Code in the U.S. Bankruptcy Court Eastern District of New York. On November 4, 2005, the Company emerged from Bankruptcy Court. On August 13, 2010, the Company's sole officer/director transferred and assigned his control stock position to an unrelated third party but remained as the Company's sole executive officer/director. On April 14, 2015, the Company incorporated a wholly-owned subsidiary in Delaware (USA Equities Trust, Inc.) for the purpose of acquiring real estate.

Note 2. Going Concern

The accompanying financial statements have been prepared assuming the Company will continue as a going concern. The Company has incurred losses, has negative operational cash flows and has no revenues. The future of the Company is dependent upon Management's success in its efforts and limited resources to pursue and effect a business combination. These conditions raise substantial doubt about the Company's ability to continue as a going concern. These financial statements do not include any adjustments that might arise from this uncertainty.

Note 3. Basis of Presentation

The Financial Statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America. In the opinion of management, the accompanying audited financial statements include all adjustments, consisting of only normal recurring accruals, necessary for a fair statement of financial position, results of operations, and cash flows. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the financial statements and the accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2015. The accounting policies are described in the "Notes to the Financial Statements" in the 2015 Annual Report on Form 10-K and updated, as necessary, in this Form 10-Q. The year-end balance sheet data presented for comparative purposes was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States. The results of operations for the three-months ended March 31, 2016 and 2015 are not necessarily indicative of the operating results for the full year or for any other subsequent interim period.

Accounting Policies

Use of Estimates: The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statement and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from the estimates.

Principles of Consolidation:

The financial statements include the accounts of USA Equities Corp and as of April 14, 2015, the accounts of its wholly owned subsidiary USA Equities Trust, Inc. All significant inter-company balances and transactions have been eliminated.

Reclassifications:

Certain reclassification was made to previously reported amounts in the accompanying financial statements and notes to make them consistent with the current presentation format. The Company reclassified its two convertible notes from current liabilities to long-term liabilities.

Cash and Cash Equivalents:

For financial statement presentation purposes, the Company considers those short-term, highly liquid investments with original maturities of three months or less to be cash or cash equivalents.

Fair Value of Financial Instruments:

ASC #825, "Disclosures about Fair Value of Financial Instruments," requires disclosure of fair value information about financial instruments. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of March 31, 2016. These financial instruments include accounts payable and accrued expenses. Fair values were assumed to approximate carrying values for these financial instruments since they are short-term in nature and their carrying amounts approximate fair values.

Earnings per Common Share:

Basic net loss per share is computed using the weighted average number of common shares outstanding during the period. Diluted net loss per common share is computed using the weighted average number of common and dilutive equivalent shares outstanding during the period. Dilutive common equivalent shares consist of options to purchase common stock (only if those options are exercisable and at prices below the average share price for the period) and shares issuable upon the conversion of issued and outstanding preferred stock. Due to the net losses reported, dilutive common equivalent shares were excluded from the computation of diluted loss per share, as inclusion would be anti-dilutive for the periods presented. There were no common equivalent shares required to be added to the basic weighted average shares outstanding to arrive at diluted weighted average shares outstanding as of March 31, 2016 or 2015.

Income Taxes:

The Company accounts for income taxes in accordance with ASC #740, "Accounting for Income Taxes," which requires recognition of estimated income taxes payable or refundable on income tax returns for the current year and for the estimated future tax effect attributable to temporary differences and carry-forwards. Measurement of deferred income tax is based on enacted tax laws including tax rates, with the measurement of deferred income tax assets being reduced by available tax benefits not expected to be realized.

ASC 740 also clarifies the accounting for uncertainty in tax positions. This guidance prescribes a two-step process to determine the amount of tax benefit to be recognized. First, the tax position must be evaluated to determine the likelihood that it will be sustained upon external examination. If the tax position is deemed "more-likely-than-not" to be sustained, the tax position is then assessed to determine the amount of benefit to recognize in the financial statements. The amount of the benefit that may be recognized is the largest amount that has a greater than 50% likelihood of being realized upon ultimate settlement. There are no uncertain tax positions taken by the Company on its tax returns. Tax years subsequent to 2005 remain open to examination by U.S. federal and state tax jurisdictions.

Management of the Company is not aware of any additional needed liability for unrecognized tax benefits at March 31, 2016 The Company has net operating losses of about $1,195,177, which begin to expire in 2026. Future utilization of currently generated federal and state NOL and tax credit carry forwards may be subject to a substantial annual limitation due to the ownership change limitations provided by the Internal Revenue Code of 1986, as amended and similar state provisions. The annual limitation may result in the expiration of NOL and tax credit carry-forwards before full utilization.

Impact of recently issued accounting standards

In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern ("ASU 2014-15"), an amendment to FASB Accounting Standards Codification ("ASC") Topic 205, Presentation of Financial Statements. This update provides guidance on management's responsibility in evaluating whether there is substantial doubt about an entity's ability to continue as a going concern and to provide related footnote disclosures. This ASU 2014-15 is effective for annual periods ending after December 15, 2016, and for annual and interim periods thereafter. Early adoption is permitted. The Company provides the disclosures required by ASU 2014-15.

There were no other new accounting pronouncements that had a significant impact on the Company's operating results or financial position.

Note 4. Stockholders' Deficit

Recent Issuances

Common shares issued to acquire future interest in real estate

On July 31, 2015, the Company through, its Delaware wholly-owned subsidiary, USA Equities Trust, Inc., entered into an Asset Purchase Agreement (the "APA") with a formerly unaffiliated third party, Green US Builders, Inc. (the "Seller"), a Delaware corporation, for the purchase of a commercial property located in Bridgeport. At the end of October 2015, the parties decided to rescind the transaction because of the inability to fulfill certain representations regarding the status of the property. The Seller, who was issued 2.4 million shares in consideration for the asset, had been negotiating with the Company to replace the asset with a property of equal value. The shares were valued at $0.27 per share or $648,000, the closing bid at July 31, 2015. The shares have been carried as a common stock subscription receivable December 31, 2015.

On February 1, 2016, the Company and the Seller entered into an Asset Purchase Agreement, as Amended, (the "Amendment"), which provided that the Seller had until March 31, 2016 to replace the asset with a property of equal value, unless the Company and the Seller mutually agreed to extend the Amendment beyond March 31, 2016. In May 2016, the Company determined not to extend the Amendment and the board of directors of the Company approved the cancellation of the 2.4 million shares and the certificate evidencing these shares were returned to the transfer agent for cancellation and canceling the common stock subscription receivable at March 31, 2016.

Note 5. Convertible Notes to Related Party

On October 2, 2009, we issued a convertible promissory with a current principal amount of $73,500 to our sole officer/director. The note bears interest at the rate of 12% per annum until paid or the note and accrued interest is converted into shares of the Company's common stock at a conversion price of $0.001. The maturity date of the note is December 31, 2017. As of March 31, 2016 and December 31, 2015, this note had $58,913 and $56,714, respectively, in accrued interest.

On December 31, 2013, we issued a convertible promissory note in the amount of $255,681 to our controlling shareholder. The note bears interest at the rate of 1% per annum until paid or the note and accrued interest is converted into shares of the Company's common stock at a conversion price of $0.25 per share. On March 30, 2016, the maturity date of the note was extended to December 31, 2017.  As of March 31, 2016 and December 31, 2015, this note had $5,707 and $5,069, respectively, in accrued interest.

Note 6. Related Party Transactions

Due Related Parties: Amounts due to related parties consist of: (i) cash advances received from our controlling shareholder, which items totaled $60,219 at March 31, 2016 and $56,410 at December 31, 2015; and (ii) amounts due to an entity controlled by our CEO and Chairman for SEC compliance services, which totaled $4,500 at March 31, 2016 and $1,500 at December 31, 2015.

Note 7. Commitments and Contingencies

There are no pending or threatened legal proceedings as of March 31, 2016. The Company has no non-cancellable operating leases.

Note 8. Subsequent Events

The Company evaluated its March 31, 2016 financial statements for subsequent events, through May 26, 2016, the date the financial statements were issued. In May 2016, The Company's board of directors ratified and approved its determination not to extend the Asset Purchase Agreement, as Amended (the "Amendment") and, as a result, the Company effectively: (i) terminated the Amendment and the underlying Asset Purchase Agreement; (ii) returned to its transfer agent the certificate of the 2.4 million shares issued in consideration for the Asset Purchase Agreement for cancellation; and (iii) canceled the common stock subscription agreement, also effective March 31, 2016. These subsequent events affected the March 31, 2016 financial statements.

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS AND PLAN OF OPERATION Back to Table of Contents

Some of the statements contained in this quarterly report of USA Equities Corp., a Delaware corporation discuss future expectations, contain projections of our plan of operation or financial condition or state other forward-looking information. Forward-looking statements give our current expectations or forecasts of future events. You can identify these statements by the fact that they do not relate strictly to historical or current facts. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "would," "expect," "plan," "anticipate," "believe," "estimate," "continue," or the negative of such terms or other similar expressions.

Overview

USA Equities Corp, (f/k/a American Biogenetic Sciences, Inc.), a Delaware corporation, is sometimes referred to herein as "we", "us", "our", "Company" and the "Registrant". The Company's Board of Directors approved the name change from American Biogenetic Sciences, Inc. to USA Equities Corp on May 29, 2015. The Registrant was formed in 1983 for the purpose of researching, developing and marketing cardiovascular and neurobiology products for commercial development and distributing vaccines. The Registrant's products were designed for in vitro and in vivo diagnostic procedures and therapeutic drugs, and its products had been identified for use in the treatment of epilepsy, migraine and mania, neurodegenerative diseases, coronary artery diseases and cancer. The Registrant commenced selling its products during the last quarter of 1997 but did not generate any sufficient revenues from operations to fund its operating expenses.

On September 19, 2002, the Registrant filed a petition under the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Eastern District of New York. On November 4, 2005, the Bankruptcy Court approved an order authorizing a change in control and provided that the Company, subsequent to the bankruptcy proceeding, is free and clear of all liens, claims and other obligations.

On August 13, 2010, the Registrant's sole officer/director, who was also the principal shareholder, transferred and assigned his controlling stock position to an unrelated third party but remained as the Registrant's sole officer and director. On December 31, 2013, the convertible note to our sole officer/director was formally assigned to our controlling shareholder. See Note 4 to the Notes to Consolidated Financial Statements.

On May 27, 2015, the board of directors of the Registrant appointed Mr. Troy Grogan to the Registrant's board of directors and, at the same time, appointed Mr. Grogan to serve as the Registrant's chief financial officer. Mr. Grogan has been a principal shareholder of the Registrant since August 2010. Prior to Mr. Grogan's appointment, Mr. Richard Rubin had been the Registrant's sole executive officer and director. Mr. Rubin will continue to serve as the Registrant's chief executive officer and as chairman of the board of directors.

The Company's principal business objective is to seek a business combination with an operating company. We intend to use the Company's limited personnel and financial resources in connection with such activities. The Company will utilize its capital stock, debt or a combination of capital stock and debt, in effecting a business combination. It may be expected that entering into a business combination will involve the issuance of restricted shares of capital stock.

On April 17, 2015, the Company organized a Subsidiary, in Delaware for the purpose of acquiring real estate. To date, the control shares have not yet been issued.

On July 31, 2015, the Company through its Delaware wholly-owned subsidiary, USA Equities Trust, Inc., entered into an Asset Purchase Agreement with an unaffiliated third party, Green US Builders, Inc., a Delaware corporation (the "Seller") for the purchase of a mixed-use investment property located in Bridgeport, CT (the "Property") consisting of five retail stores and five apartments. At the end of October 2015, the parties decided to rescind the transaction because of the inability to fulfill certain representations regarding the status of the property. The seller, who was issued 2.4 million shares in consideration for the asset, is negotiating with the company to replace the asset with a property of equal value. The shares were valued at $0.27 per share or $648,000, the closing bid at July 31, 2015.

On February 1, 2016, the Company and the Seller entered into an Asset Purchase Agreement, as Amended, (the "Amendment"), which provided that the Seller had until March 31, 2016 to replace the asset with a property of equal value, unless the Company and the Seller mutually agreed to extend the Amendment. In May 2016, the Company's board of directors determined not to extend the Amendment beyond the March 31, 2016 date and the board of directors of the Company ratified and approved the: (i) termination of the Amendment and the underlying Asset Purchase Agreement; (ii) return to the transfer agent of the certificate evidencing the 2.4 million shares for cancellation; and (iii) cancellation of the common stock subscription receivable, effective at March 31, 2016.

Results of Operations during the three month ended March 31, 2016 as compared to the three months ended March 31, 2015

We have not generated any revenues during the periods ended March 31, 2016 and 2015. We have operating expenses related to general and administrative expenses being a public company and interest expenses. We incurred $13,597 in net loss due to expenses consisting of general and administrative expenses of $10,760 and interest expenses of $2,837 during the three months ended March 31, 2016 as compared to a net loss of $10,577 due to expenses consisting of general and administrative expenses of $7,738 and interest expenses of $2,839 during the three months ended March 31, 2015.

Our general and administrative expenses increased by $3,022 or 29% during the three months ended March 31, 2016 as compared to the same period in the prior year due to an increase in professional fees.

Liquidity and Capital Resources

We will use our limited personnel and financial resources in connection with seeking new business opportunities, including seeking an acquisition or merger with an operating company. It may be expected that entering into a new business opportunity or business combination will involve the issuance of a substantial number of restricted shares of common stock. If such additional restricted shares of common stock are issued, our shareholders will experience a dilution in their ownership interest in the Registrant. If a substantial number of restricted shares are issued in connection with a business combination, a change in control may be expected to occur.

On March 31, 2016, we had no assets. We had total current liabilities of $144,696 consisting of $19,857 in accounts payable, accrued expenses of $64,620, $60,219 in advances from and accruals due to related. As of March 31, 2016, we had long-term liabilities of $329,181 consisting of two convertible notes.

On December 31, 2015, we had no assets. We had total current liabilities of $131,099 consisting of $12,906 in accounts payable, accrued expenses of $61,783, $56,410 in advances from and accruals due to related. As of December 31, 2015, we had long-term liabilities of $329,181 consisting of two convertible notes.

We financed our negative cash flows from operations of $3,809 during the three months ended March 31, 2016, which was due to a net loss of $13,597 offset by an increase in account payable and accrued expenses of $9,788 through related party borrowings in the same amount.

We financed our negative cash flows from operations of $9,738 during the three months ended March 31, 2015, which was due to a net loss of $10,577 offset by an increase in accounts payable and accrued expenses of $839 through related party borrowings in the same amount.

In connection with our potential new business plan to acquire residential or commercial property, we may determine to seek to raise funds from the sale of restricted stock or debt securities. We have no agreements to issue any debt or equity securities and cannot predict whether equity or debt financing will become available at terms acceptable to us, if at all.

Our limited resources may make it difficult to borrow funds or raise capital. To the extent that debt financing ultimately proves to be available, any borrowing will subject us to various risks traditionally associated with indebtedness, including the risks of interest rate fluctuations and insufficiency of cash flow to pay principal and interest, including debt of an acquired business.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK Back to Table of Contents

We have not entered into, and do not expect to enter into, financial instruments for trading or hedging purposes.

ITEM 4. CONTROLS AND PROCEDURES Back to Table of Contents

Evaluation of disclosure controls and procedures. As of March 31, 2016, the Company's chief executive officer/chief financial officer conducted an evaluation regarding the effectiveness of the Company's disclosure controls and procedures (as defined in Rules 13a-15(e) or 15d-15(e) under the Exchange Act. Based upon the evaluation of these controls and procedures, our chief executive officer/chief financial officer concluded that our disclosure controls and procedures were not effective as of the date of filing this quarterly report due to lack of an oversight committee and a lack of segregation of duties. Management will consider the need to add personnel and implement improved review procedures.

Changes in internal controls. During the quarterly period covered by this report, no changes occurred in our internal control over financial reporting that materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS Back to Table of Content

None.

ITEM 1A. RISK FACTORS Back to Table of Content

In addition to the other information set forth in this report, you should carefully consider the factors discussed in Part I, “Item 1. Description of Business, subheading Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2015, which could materially affect our business, financial condition or future results.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS Back to Table of Content

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES Back to Table of Content

None.

ITEM 4. MINE SAFETY DISCLOSURE Back to Table of Content

None.

ITEM 5. OTHER INFORMATION Back to Table of Content

None.

ITEM 6. EXHIBITS Back to Table of Content

(a) The following documents are filed as exhibits to this report on Form 10-Q or incorporated by reference herein. Any document incorporated by reference is identified by a parenthetical reference to the SEC filing that included such document.

Exhibit No.	Description
31.1	Certification of CEO pursuant to Rule 13a-14(a) or 15d-14(a) of the Exchange Act pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2	Certification of CFO pursuant to Rule 13a-14(a) or 15d-14(a) of the Exchange Act pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1	Certification of CEO pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2	Certification of CFO pursuant to 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 Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the date indicated.

USA Equity Corp.

By: /s/ Richard Rubin
Richard Rubin
Chief Executive Officer
(Principal Executive Officer)
Date: May 26, 2016

By: /s/ Troy Grogan
Troy Grogan
Chief Financial Officer
(Principal Financial and Principal Accounting Officer)
Date: May 26, 2016

Pursuant to the requirements of the Securities Act of 1934, this report has been signed by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By: /s/ Richard Rubin
Richard Rubin
Chairman
Date: May 26, 2016

By: /s/ Troy Grogan
Troy Grogan
Director
Date: May 26, 2016

EX-31

CERTIFICATIONS

I, Richard Rubin, certify that:

1. I have reviewed this quarterly report of USA Equities Corp.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

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

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

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

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

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

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

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

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

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

Date: May 26, 2016

/s/ Richard Rubin
CEO

EX-32

CERTIFICATIONS

I, Troy Grogan, certify that:

1. I have reviewed this quarterly report of USA Equities Corp.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

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

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

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

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

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

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

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

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

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

Date: May 26, 2016

/s/ Troy Grogan
CFO

EX-31

Exhibit 32

CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO SECTION 906
OF THE SARBANES-OXLEY ACT OF 2002

In connection with the quarterly report of USA Equities Corp. (the "Company") on Form 10-Q for the period ended March 31, 2016 (the "Report"), as filed with the Securities and Exchange Commission on the date hereof, I, Richard Rubin, CEO of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1. The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and
2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ Richard Rubin
CEO

Dated: May 26, 2016

A signed original of this written statement required by Section 906 has been provided to USA Equities Corp. and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

EX-32

Exhibit 32

CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO SECTION 906
OF THE SARBANES-OXLEY ACT OF 2002

In connection with the quarterly report of USA Equities Corp. (the "Company") on Form 10-Q for the period ended March 31, 2016 (the "Report"), as filed with the Securities and Exchange Commission on the date hereof, I, Troy Grogan, CFO of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1. The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and
2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ Troy Grogan
CFO

Dated: May 26, 2016

A signed original of this written statement required by Section 906 has been provided to USA Equities Corp. and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

XML

Document and Entity Information - USD ($)	3 Months Ended
	Mar. 31, 2016	Jun. 30, 2015
Document and Entity Information:
Entity Registrant Name	USA Equities Corp.
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Trading Symbol	usaq
Amendment Flag	false
Entity Central Index Key	0000856984
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding	3,588,740
Entity Public Float		$ 612,000
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q1

XML

USA Equities Corp. - Balance Sheets		Mar. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)
Current assets:
Cash		$ 0	$ 0
Total current assets		0	0
Total Assets		0	0
Current Liabilities:
Accounts payable - trade		19,857	12,906
Accrued interest expenses		$ 64,620	$ 61,783
Advances from and accruals due to related party		60,219	56,410
Total current liabilities		$ 144,696	$ 131,099
Long-term liabilities		329,181	329,181
Total liabilities		$ 473,877	$ 460,280
Stockholders' deficit:
Preferred stock	[1]
Common stock	[2]	$ 359	$ 599
Additional paid in capital		720,941	1,368,701
Common stock subscriptions receivable		0	(648,000)
Accumulated deficit		(1,195,177)	(1,181,580)
Total Stockholders' Deficiency		(473,877)	(460,280)
Total Liabilities and Stockholders' Deficiency		$ 0	$ 0

[1] $0.0001 par value; 10,000,000 shares authorized; none issued

[2] $0.0001 par value; 100,000,000 shares authorized; 3,588,740 and 5,988,740 issued and outstanding at March 31, 2016 and December 31, 2015

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USA Equities Corp. - Statements of Operations - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statements of Operations
Revenue	$ 0	$ 0
Costs and expenses:
General and administrative	10,760	7,738
Interest expenses	2,837	2,839
Total costs and expenses	13,597	10,577
Net loss	$ (13,597)	$ (10,577)
Basic and diluted per share amounts:
Basic and diluted net loss	$ (0.01)	$ (0.01)
Weighted average shares outstanding
Basic and diluted	1,088,740	1,088,740

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USA Equities Corp. - Statements of Cash Flows	3 Months Ended
	Mar. 31, 2016 USD ($)	Mar. 31, 2015 USD ($)
Cash flows from operating activities:
Net loss	(13,297)	(10,577)
Adjustments to reconcile net loss to cash used in operating activities:
Fair value of services provided by related parties	0	0
(Increase) decrease in current assets:
Increase (decrease) in accounts payable and accrued expenses	9,788	839
Cash flows used by operating activities	$ (3,509)	$ (9,738)
Cash flows from investing activities:
Cash used in investing activities	$ 0	$ 0
Cash flows from financing activities:
Procceds from related party borrowings	3,509	9,738
Cash generated by financing activities	$ 3,509	$ 9,738
Change in cash	$ 0	$ 0
Cash - beginning of period	0	0
Cash - end of period	0	0

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Note 1. The Company

3 Months Ended

Mar. 31, 2016

Notes

Note 1. The Company

Note 1. The Company

USA Equities Corp, (f/k/a American Biogenetic Sciences, Inc.) (the "Company", “We” or the "Registrant") was incorporated in Delaware on September 1, 1983. Prior to ceasing its operations in 2002, the Company was engaged in the research, development and production of bio-pharmaceutical products. On September 19, 2002, the Registrant filed for bankruptcy under the U.S. Bankruptcy Code in the U.S. Bankruptcy Court Eastern District of New York. On November 4, 2005, the Company emerged from Bankruptcy Court. On August 13, 2010, the Company's sole officer/director transferred and assigned his control stock position to an unrelated third party but remained as the Company's sole executive officer/director. On April 14, 2015, the Company incorporated a wholly-owned subsidiary in Delaware (USA Equities Trust, Inc.) for the purpose of acquiring real estate.

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Note 2. Going Concern

3 Months Ended

Mar. 31, 2016

Notes

Note 2. Going Concern

Note 2. Going Concern

The accompanying financial statements have been prepared assuming the Company will continue as a going concern. The Company has incurred losses, has negative operational cash flows and has no revenues. The future of the Company is dependent upon Management's success in its efforts and limited resources to pursue and effect a business combination. These conditions raise substantial doubt about the Company's ability to continue as a going concern. These financial statements do not include any adjustments that might arise from this uncertainty.

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Note 3. Basis of Presentation

3 Months Ended

Mar. 31, 2016

Notes

Note 3. Basis of Presentation

Note 3. Basis of Presentation

The Financial Statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America. In the opinion of management, the accompanying audited financial statements include all adjustments, consisting of only normal recurring accruals, necessary for a fair statement of financial position, results of operations, and cash flows. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the financial statements and the accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2015. The accounting policies are described in the "Notes to the Financial Statements" in the 2015 Annual Report on Form 10-K and updated, as necessary, in this Form 10-Q. The year-end balance sheet data presented for comparative purposes was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States. The results of operations for the three-months ended March 31, 2016 and 2015 are not necessarily indicative of the operating results for the full year or for any other subsequent interim period.

Accounting Policies

Use of Estimates:

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statement and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from the estimates.

Principles of Consolidation:

The consolidated financial statements include the accounts of USA Equities Corp and as of April 14, 2015, the accounts of its wholly owned subsidiary USA Equities Trust, Inc. All significant inter-company balances and transactions have been eliminated.

Reclassifications:

Certain reclassification was made to previously reported amounts in the accompanying financial statements and notes to make them consistent with the current presentation format. The Company reclassified its two convertible notes from current liabilities to long-term liabilities.

Cash and Cash Equivalents:

For financial statement presentation purposes, the Company considers those short-term, highly liquid investments with original maturities of three months or less to be cash or cash equivalents.

Fair Value of Financial Instruments:

ASC #825, "Disclosures about Fair Value of Financial Instruments," requires disclosure of fair value information about financial instruments. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of March 31, 2016. These financial instruments include accounts payable and accrued expenses. Fair values were assumed to approximate carrying values for these financial instruments since they are short-term in nature and their carrying amounts approximate fair values.

Earnings per Common Share:

Basic net loss per share is computed using the weighted average number of common shares outstanding during the period. Diluted net loss per common share is computed using the weighted average number of common and dilutive equivalent shares outstanding during the period. Dilutive common equivalent shares consist of options to purchase common stock (only if those options are exercisable and at prices below the average share price for the period) and shares issuable upon the conversion of issued and outstanding preferred stock. Due to the net losses reported, dilutive common equivalent shares were excluded from the computation of diluted loss per share, as inclusion would be anti-dilutive for the periods presented. There were no common equivalent shares required to be added to the basic weighted average shares outstanding to arrive at diluted weighted average shares outstanding as of March 31, 2016 or 2015.

Income Taxes:

The Company accounts for income taxes in accordance with ASC #740, "Accounting for Income Taxes," which requires recognition of estimated income taxes payable or refundable on income tax returns for the current year and for the estimated future tax effect attributable to temporary differences and carry-forwards. Measurement of deferred income tax is based on enacted tax laws including tax rates, with the measurement of deferred income tax assets being reduced by available tax benefits not expected to be realized.

ASC 740 also clarifies the accounting for uncertainty in tax positions. This guidance prescribes a two-step process to determine the amount of tax benefit to be recognized. First, the tax position must be evaluated to determine the likelihood that it will be sustained upon external examination. If the tax position is deemed "more-likely-than-not" to be sustained, the tax position is then assessed to determine the amount of benefit to recognize in the financial statements. The amount of the benefit that may be recognized is the largest amount that has a greater than 50% likelihood of being realized upon ultimate settlement. There are no uncertain tax positions taken by the Company on its tax returns. Tax years subsequent to 2005 remain open to examination by U.S. federal and state tax jurisdictions.

Management of the Company is not aware of any additional needed liability for unrecognized tax benefits at March 31, 2016 The Company has net operating losses of about $1,193,000, which begin to expire in 2026. Future utilization of currently generated federal and state NOL and tax credit carry forwards may be subject to a substantial annual limitation due to the ownership change limitations provided by the Internal Revenue Code of 1986, as amended and similar state provisions. The annual limitation may result in the expiration of NOL and tax credit carry-forwards before full utilization.

Impact of recently issued accounting standards

In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern ("ASU 2014-15"), an amendment to FASB Accounting Standards Codification ("ASC") Topic 205, Presentation of Financial Statements. This update provides guidance on management's responsibility in evaluating whether there is substantial doubt about an entity's ability to continue as a going concern and to provide related footnote disclosures. This ASU 2014-15 is effective for annual periods ending after December 15, 2016, and for annual and interim periods thereafter. Early adoption is permitted. The Company provides the disclosures required by ASU 2014-15.

There were no other new accounting pronouncements that had a significant impact on the Company's operating results or financial position.

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Note 4. Stockholders' Deficit

3 Months Ended

Mar. 31, 2016

Notes

Note 4. Stockholders' Deficit

Note 4. Stockholders’ Deficit

Recent Issuances

Common shares issued to acquire future interest in real estate

On July 31, 2015, the Company through, its Delaware wholly-owned subsidiary, USA Equities Trust, Inc., entered into an Asset Purchase Agreement (the "APA") with a formerly unaffiliated third party, Green US Builders, Inc. (the "Seller"), a Delaware corporation, for the purchase of a commercial property located in Bridgeport. At the end of October 2015, the parties decided to rescind the transaction because of the inability to fulfill certain representations regarding the status of the property. The Seller, who was issued 2.4 million shares in consideration for the asset, had been negotiating with the Company to replace the asset with a property of equal value. The shares were valued at $0.27 per share or $648,000, the closing bid at July 31, 2015. The shares have been carried as a common stock subscription receivable December 31, 2015. On February 1, 2016, the Company and the Seller entered into an Asset Purchase Agreement, as Amended, (the "Amendment"), which provided that the Seller had until March 31, 2016 to replace the asset with a property of equal value, unless the Company and the Seller mutually agreed to extend the Amendment beyond March 31, 2016. In May 2016, the Company determined not to extend the Amendment and the board of directors of the Company approved the cancellation of the 2.4 million shares and the certificate evidencing these shares were returned to the transfer agent for cancellation and canceling the common stock subscription receivable at March 31, 2016.

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Note 5. Convertible Notes To Related Party

3 Months Ended

Mar. 31, 2016

Notes

Note 5. Convertible Notes To Related Party

Note 5. Convertible Notes to Related Party

On October 2, 2009, we issued a convertible promissory with a current principal amount of $73,500 to our sole officer/director. The note bears interest at the rate of 12% per annum until paid or the note and accrued interest is converted into shares of the Company's common stock at a conversion price of $0.001. The maturity date of the note is December 31, 2017. As of March 31, 2016 and December 31, 2015, this note had $58,913 and $56,714, respectively, in accrued interest.

On December 31, 2013, we issued a convertible promissory note in the amount of $255,681 to our controlling shareholder. The note bears interest at the rate of 1% per annum until paid or the note and accrued interest is converted into shares of the Company's common stock at a conversion price of $0.25 per share. On March 30, 2016, the maturity date of the note was extended to December 31, 2017.  As of March 31, 2016 and December 31, 2015, this note had $5,707 and $5,069, respectively, in accrued interest.

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Note 6. Related Party Transactions

3 Months Ended

Mar. 31, 2016

Notes

Note 6. Related Party Transactions

Note 6. Related Party Transactions

Due Related Parties: Amounts due to related parties consist of: (i) cash advances received from our controlling shareholder, which items totaled $60,219 at March 31, 2016 and $56,410 at December 31, 2015; and (ii) amounts due to an entity controlled by our CEO and Chairman for SEC compliance services, which totaled $4,500 at March 31, 2016 and $1,500 at December 31, 2015.

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Note 7. Commitments and Contingencies

3 Months Ended

Mar. 31, 2016

Notes

Note 7. Commitments and Contingencies

Note 7. Commitments and Contingencies

There are no pending or threatened legal proceedings as of March 31, 2016. The Company has no non-cancellable operating leases.

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Note 8. Subsequent Events

3 Months Ended

Mar. 31, 2016

Notes

Note 8. Subsequent Events

Note 8. Subsequent Events

The Company evaluated its March 31, 2016 financial statements for subsequent events, through May 24, 2016, the date the financial statements were issued. In May 2016, The Company's board of directors ratified and approved its determination not to extend the Asset Purchase Agreement, as Amended (the "Amendment") and, as a result, the Company effectively: (i) terminated the Amendment and the underlying Asset Purchase Agreement; (ii) returned to its transfer agent the certificate of the 2.4 million shares issued in consideration for the Asset Purchase Agreement for cancellation; and (iii) canceled the common stock subscription agreement, also effective March 31, 2016. These subsequent events affected the March 31, 2016 financial statements.

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Note 3. Basis of Presentation: Cash and Cash Equivalents (Policies)

3 Months Ended

Mar. 31, 2016

Policies

Cash and Cash Equivalents:

Cash and Cash Equivalents:

For financial statement presentation purposes, the Company considers those short-term, highly liquid investments with original maturities of three months or less to be cash or cash equivalents.

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Note 3. Basis of Presentation: Fair Value of Financial Instruments (Policies)

3 Months Ended

Mar. 31, 2016

Policies

Fair Value of Financial Instruments:

Fair Value of Financial Instruments:

ASC #825, "Disclosures about Fair Value of Financial Instruments," requires disclosure of fair value information about financial instruments. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of March 31, 2016. These financial instruments include accounts payable and accrued expenses. Fair values were assumed to approximate carrying values for these financial instruments since they are short-term in nature and their carrying amounts approximate fair values.

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Note 3. Basis of Presentation: Earnings Per Common Share (Policies)

3 Months Ended

Mar. 31, 2016

Policies

Earnings Per Common Share:

Earnings per Common Share:

Basic net loss per share is computed using the weighted average number of common shares outstanding during the period. Diluted net loss per common share is computed using the weighted average number of common and dilutive equivalent shares outstanding during the period. Dilutive common equivalent shares consist of options to purchase common stock (only if those options are exercisable and at prices below the average share price for the period) and shares issuable upon the conversion of issued and outstanding preferred stock. Due to the net losses reported, dilutive common equivalent shares were excluded from the computation of diluted loss per share, as inclusion would be anti-dilutive for the periods presented. There were no common equivalent shares required to be added to the basic weighted average shares outstanding to arrive at diluted weighted average shares outstanding as of March 31, 2016 or 2015.

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Note 3. Basis of Presentation: Income Taxes (Policies)

3 Months Ended

Mar. 31, 2016

Policies

Income Taxes:

Income Taxes:

The Company accounts for income taxes in accordance with ASC #740, "Accounting for Income Taxes," which requires recognition of estimated income taxes payable or refundable on income tax returns for the current year and for the estimated future tax effect attributable to temporary differences and carry-forwards. Measurement of deferred income tax is based on enacted tax laws including tax rates, with the measurement of deferred income tax assets being reduced by available tax benefits not expected to be realized.

ASC 740 also clarifies the accounting for uncertainty in tax positions. This guidance prescribes a two-step process to determine the amount of tax benefit to be recognized. First, the tax position must be evaluated to determine the likelihood that it will be sustained upon external examination. If the tax position is deemed "more-likely-than-not" to be sustained, the tax position is then assessed to determine the amount of benefit to recognize in the financial statements. The amount of the benefit that may be recognized is the largest amount that has a greater than 50% likelihood of being realized upon ultimate settlement. There are no uncertain tax positions taken by the Company on its tax returns. Tax years subsequent to 2005 remain open to examination by U.S. federal and state tax jurisdictions.

Management of the Company is not aware of any additional needed liability for unrecognized tax benefits at March 31, 2016 The Company has net operating losses of about $1,193,000, which begin to expire in 2026. Future utilization of currently generated federal and state NOL and tax credit carry forwards may be subject to a substantial annual limitation due to the ownership change limitations provided by the Internal Revenue Code of 1986, as amended and similar state provisions. The annual limitation may result in the expiration of NOL and tax credit carry-forwards before full utilization.

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Note 3. Basis of Presentation: Impact of Recently Issued Accounting Standards (Policies)

3 Months Ended

Mar. 31, 2016

Policies

Impact of Recently Issued Accounting Standards

Impact of recently issued accounting standards

In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern ("ASU 2014-15"), an amendment to FASB Accounting Standards Codification ("ASC") Topic 205, Presentation of Financial Statements. This update provides guidance on management's responsibility in evaluating whether there is substantial doubt about an entity's ability to continue as a going concern and to provide related footnote disclosures. This ASU 2014-15 is effective for annual periods ending after December 15, 2016, and for annual and interim periods thereafter. Early adoption is permitted. The Company provides the disclosures required by ASU 2014-15.

There were no other new accounting pronouncements that had a significant impact on the Company's operating results or financial position.

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Note 3. Basis of Presentation: Use of Estimates (Policies)

3 Months Ended

Mar. 31, 2016

Policies

Use of Estimates:

Use of Estimates:

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statement and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from the estimates.

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Note 3. Basis of Presentation: Principles of Consolidation (Policies)

3 Months Ended

Mar. 31, 2016

Policies

Principles of Consolidation:

Principles of Consolidation:

The consolidated financial statements include the accounts of USA Equities Corp and as of April 14, 2015, the accounts of its wholly owned subsidiary USA Equities Trust, Inc. All significant inter-company balances and transactions have been eliminated.

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Note 3. Basis of Presentation: Reclassifications (Policies)

3 Months Ended

Mar. 31, 2016

Policies

Reclassifications:

Reclassifications:

Certain reclassification was made to previously reported amounts in the accompanying financial statements and notes to make them consistent with the current presentation format. The Company reclassified its two convertible notes from current liabilities to long-term liabilities.