Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Mar. 31, 2014 | 1-May-14 | |
Document and Entity Information | ' | ' |
Entity Registrant Name | 'YUMMIES INC | ' |
Document Type | '10-Q | ' |
Document Period End Date | 31-Mar-14 | ' |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0001073748 | ' |
Current Fiscal Year End Date | '--09-30 | ' |
Entity Common Stock, Shares Outstanding | ' | 2,505,000 |
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 | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Entity Incorporation, State Country Name | 'Nevada | ' |
Entity Incorporation, Date of Incorporation | 10-Jun-98 | ' |
Balance_Sheet
Balance Sheet (USD $) | Mar. 31, 2014 | Sep. 30, 2013 |
Current Assets: | ' | ' |
Cash | $518 | $565 |
Total current assets | 518 | 565 |
Total Assets | 518 | 565 |
Current Liabilities: | ' | ' |
Accounts payable | 4,250 | 5,250 |
Interest payable | 1,911 | 1,760 |
Interest payable, stockholders | 10,095 | 9,090 |
Notes payable | 3,774 | 3,774 |
Notes payable, stockholders | 25,100 | 25,100 |
Total current liabilities | 45,130 | 44,974 |
Stockholders' Equity: | ' | ' |
Common stock, $.001 par value 50,000,000 shares authorized, 2,505,000 issued and outstanding | 2,505 | 2,505 |
Additional paid-in capital | 38,277 | 30,787 |
Deficit accumulated during the development stage | -85,394 | -77,701 |
Total stockholders' equity | -44,612 | -44,409 |
Total Liabilities and Stockholders' Equity | $518 | $565 |
Balance_Sheet_Parenthetical
Balance Sheet Parenthetical (USD $) | Mar. 31, 2014 | Sep. 30, 2013 |
Balance Sheet | ' | ' |
Common stock par value | $0.00 | $0.00 |
Common stock shares authorized | 50,000,000 | 50,000,000 |
Common stock shares issued | 2,505,000 | 2,505,000 |
Common stock shares outstanding | 2,505,000 | 2,505,000 |
Statements_of_Operations
Statements of Operations (USD $) | 3 Months Ended | 6 Months Ended | 190 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | |
Statements of Operations | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' |
Expenses, general and administrative | 1,534 | 1,444 | 6,538 | 5,498 | 73,389 |
Operating loss | -1,534 | -1,444 | -6,538 | -5,498 | -73,389 |
Interest expense | -578 | -578 | -1,155 | -1,155 | -12,005 |
Net loss | ($2,112) | ($2,022) | ($7,693) | ($6,653) | ($85,394) |
Net loss per share | ' | ' | ' | ' | ($0.03) |
Weighted average shares outstanding | 2,505,000 | 2,505,000 | 2,505,000 | 2,505,000 | 2,462,131 |
Statement_of_Cash_Flows
Statement of Cash Flows (USD $) | 6 Months Ended | 190 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | |
Cash flows from operating activities: | ' | ' | ' |
Net loss | ($7,693) | ($6,653) | ($85,394) |
Adjustment to reconcile net loss to cash provided by operating activities: | ' | ' | ' |
Increase (decrease) in accounts payable and interest payable | 156 | 1,075 | 16,256 |
Expenses paid directly by shareholder | 7,490 | 5,530 | 27,752 |
Accounts payable converted into note payable | ' | ' | 7,875 |
Net cash used by operating activities | -47 | -48 | -33,511 |
Cash flows from investing activities: | ' | ' | ' |
Cash flows from investing activities | ' | ' | ' |
Cash flows from financing activities: | ' | ' | ' |
Cash contributed by shareholder | ' | ' | 1,000 |
Issuance of common stock | ' | ' | 12,029 |
Proceeds from note payable | ' | ' | 21,000 |
Net cash provided by financing activities | ' | ' | 34,029 |
Net increase (decrease) in cash | -47 | -48 | 518 |
Cash, beginning of period | 565 | 662 | ' |
Cash, end of period | 518 | 614 | 518 |
Interest paid | ' | ' | ' |
Income taxes paid | ' | ' | ' |
1_Summary_of_Business_and_Sign
1. Summary of Business and Significant Accounting Policies | 6 Months Ended |
Mar. 31, 2014 | |
Notes | ' |
1. Summary of Business and Significant Accounting Policies | ' |
1. Summary of Business and Significant Accounting Policies | |
a. Summary of Business | |
The Company was incorporated under the laws of the State of Nevada on June 10, 1998. The Company was formed to pursue business opportunities. The Company has not commenced principal operations and is considered a "Development Stage Company" as defined by FASB ASC 915 (formerly Statement of Financial Accounting Standards (SFAS) No. 7). | |
b. Basis of Presentation | |
The accompanying financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) as promulgated in the United States of America. | |
In July 2009, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Codification (“ASC”) 105-10, formerly Statement of Financial Accounting Standards (“SFAS”) No. 168, The FASB Accounting Standards Codification and Hierarchy of Generally Accepted Accounting Principles, which became the single source of authoritative GAAP recognized by the FASB. ASC 105-10 does not change current U.S. GAAP, but on the effective date, the FASB ASC superseded all then existing non-SEC accounting and reporting standards. | |
The Company adopted ASC 105-10 during the year ended September 30, 2010 and revised its referencing of GAAP accounting standards in these financial statements to reflect the new standards. | |
c. Cash Flows | |
For purposes of the statement of cash flows, the Company considers all highly liquid investments purchased with a maturity of three months or less to be cash or cash equivalent | |
d. Net Loss Per Share | |
The net loss per share calculation is based on the weighted average number of shares outstanding during the period. | |
e. Use of Estimates | |
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. | |
f. Fair Value of Financial Instruments | |
ASC 820-10 (formerly SFAS No. 157, Fair Value Measurements) requires entities to disclose the fair value of financial instruments, both assets and liabilities recognized and not recognized on the balance sheet, for which it is practicable to estimate fair value. ASC 820-10 defines the fair value of a financial instrument as the amount at which the instrument could be exchanged in a current transaction between willing parties. As of March 31, 2014 and September 30, 2013, the carrying value of certain financial instruments approximates fair value due to the short-term nature of such instruments. |
2_Notes_Payable
2. Notes Payable | 6 Months Ended |
Mar. 31, 2014 | |
Notes | ' |
2. Notes Payable | ' |
2. Notes Payable | |
On January 10, 2007, and May 22, 2009 the Company converted $2,105 and $1,669 of accounts payable from its transfer agent into one-year notes payable. The note balance of $3,774 at March 31, 2014 and September 30, 2013 bears interest at 8% and both principal and accrued interest is convertible into common stock at $.025 per share. The first note payable was due on January 10, 2008. The second note payable was due on May 22, 2010. | |
3_Notes_Payable_Stockholders
3. Notes Payable, Stockholders | 6 Months Ended | |||||
Mar. 31, 2014 | ||||||
Notes | ' | |||||
3. Notes Payable, Stockholders | ' | |||||
3. Notes Payable, Stockholders | ||||||
Stockholder notes payable consist of the following at March 31, 2014 and September 30, 2013: | ||||||
March 31, | September 30, | |||||
2014 | 2013 | |||||
Note payable to an individual, also a stockholder of the Company, interest is being charged at 8%, the note is unsecured and due on February 9, 2008. The note principal and accrued interest is convertible into common stock at $.025 per share | $ | 6,000 | $ | 6,000 | ||
Notes payable to an individual also a stockholder and director of the Company, interest is being charged at 8%, the notes are unsecured and all are due one year from issuance. The notes principal and accrued interest are convertible into common stock at $.025 per share | 19,100 | 19,100 | ||||
$ | 25,100 | $ | 25,100 | |||
4_Issuance_of_Common_Stock
4. Issuance of Common Stock | 6 Months Ended |
Mar. 31, 2014 | |
Notes | ' |
4. Issuance of Common Stock | ' |
4. Issuance of Common Stock | |
On August 13, 1998, the Company issued 1,000,000 shares of its $.001 par value common stock for an aggregate price of $1,000. | |
In February 1999, pursuant to Rule 504 of Regulation D of the Securities and Exchange Commission, the Company sold 17,500 shares of its common stock at a price of $1.00 per share. Costs of $6,471 associated directly with the offering were offset against the proceeds. | |
On December 15, 2000, an officer and stockholder of the Company returned 600,000 shares of common stock to authorized but unissued shares. | |
On February 5, 2001, the Company authorized a 6 for 1 forward split of its common shares. The forward split has been retroactively applied in the accompanying financial statements. |
5_Warrants_and_Options
5. Warrants and Options | 6 Months Ended |
Mar. 31, 2014 | |
Notes | ' |
5. Warrants and Options | ' |
5. Warrants and Options | |
No options or warrants are outstanding to acquire the Company's common stock. | |
6_Income_Taxes
6. Income Taxes | 6 Months Ended |
Mar. 31, 2014 | |
Notes | ' |
6. Income Taxes | ' |
6. Income Taxes | |
The Company has had no taxable income under Federal or State tax laws. The Company has loss carryforwards totaling $77,701 that may be offset against future federal income taxes. If not used, the carryforwards will expire between 2021 and 2033. Due to the Company being in the development stage and incurring net operating losses, a valuation allowance has been provided to reduce the deferred tax assets from the net operating losses to zero. Therefore, there are no tax benefits recognized in the accompanying statement of operations. | |
7_Going_Concern
7. Going Concern | 6 Months Ended |
Mar. 31, 2014 | |
Notes | ' |
7. Going Concern | ' |
7. Going Concern | |
As shown in the accompanying financial statements, the Company incurred a net loss of $7,693 during the six months ended March 31, 2014 and accumulated losses of $85,394 since inception at June 10, 1998. The Company’s current liabilities exceed its current assets by $44,612 at March 31, 2014. These factors create an uncertainty as to the Company’s ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent upon the success of raising additional capital through the issuance of common stock and the ability to generate sufficient operating revenue. The financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern. |
1_Summary_of_Business_and_Sign1
1. Summary of Business and Significant Accounting Policies: B. Basis of Presentation (Policies) | 6 Months Ended |
Mar. 31, 2014 | |
Policies | ' |
B. Basis of Presentation | ' |
b. Basis of Presentation | |
The accompanying financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) as promulgated in the United States of America. | |
In July 2009, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Codification (“ASC”) 105-10, formerly Statement of Financial Accounting Standards (“SFAS”) No. 168, The FASB Accounting Standards Codification and Hierarchy of Generally Accepted Accounting Principles, which became the single source of authoritative GAAP recognized by the FASB. ASC 105-10 does not change current U.S. GAAP, but on the effective date, the FASB ASC superseded all then existing non-SEC accounting and reporting standards. | |
The Company adopted ASC 105-10 during the year ended September 30, 2010 and revised its referencing of GAAP accounting standards in these financial statements to reflect the new standards. |
1_Summary_of_Business_and_Sign2
1. Summary of Business and Significant Accounting Policies: C. Cash Flows (Policies) | 6 Months Ended |
Mar. 31, 2014 | |
Policies | ' |
C. Cash Flows | ' |
c. Cash Flows | |
For purposes of the statement of cash flows, the Company considers all highly liquid investments purchased with a maturity of three months or less to be cash or cash equivalent |
1_Summary_of_Business_and_Sign3
1. Summary of Business and Significant Accounting Policies: D. Net Loss Per Share (Policies) | 6 Months Ended |
Mar. 31, 2014 | |
Policies | ' |
D. Net Loss Per Share | ' |
d. Net Loss Per Share | |
The net loss per share calculation is based on the weighted average number of shares outstanding during the period. | |
1_Summary_of_Business_and_Sign4
1. Summary of Business and Significant Accounting Policies: E. Use of Estimates (Policies) | 6 Months Ended |
Mar. 31, 2014 | |
Policies | ' |
E. Use of Estimates | ' |
e. Use of Estimates | |
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. |
1_Summary_of_Business_and_Sign5
1. Summary of Business and Significant Accounting Policies: F. Fair Value of Financial Instruments (Policies) | 6 Months Ended |
Mar. 31, 2014 | |
Policies | ' |
F. Fair Value of Financial Instruments | ' |
f. Fair Value of Financial Instruments | |
ASC 820-10 (formerly SFAS No. 157, Fair Value Measurements) requires entities to disclose the fair value of financial instruments, both assets and liabilities recognized and not recognized on the balance sheet, for which it is practicable to estimate fair value. ASC 820-10 defines the fair value of a financial instrument as the amount at which the instrument could be exchanged in a current transaction between willing parties. As of March 31, 2014 and September 30, 2013, the carrying value of certain financial instruments approximates fair value due to the short-term nature of such instruments. |
3_Notes_Payable_Stockholders_S
3. Notes Payable, Stockholders: Schedule Of Stockholders Notes Payable (Tables) | 6 Months Ended | |||||
Mar. 31, 2014 | ||||||
Tables/Schedules | ' | |||||
Schedule Of Stockholders Notes Payable | ' | |||||
March 31, | September 30, | |||||
2014 | 2013 | |||||
Note payable to an individual, also a stockholder of the Company, interest is being charged at 8%, the note is unsecured and due on February 9, 2008. The note principal and accrued interest is convertible into common stock at $.025 per share | $ | 6,000 | $ | 6,000 | ||
Notes payable to an individual also a stockholder and director of the Company, interest is being charged at 8%, the notes are unsecured and all are due one year from issuance. The notes principal and accrued interest are convertible into common stock at $.025 per share | 19,100 | 19,100 | ||||
$ | 25,100 | $ | 25,100 |
1_Summary_of_Business_and_Sign6
1. Summary of Business and Significant Accounting Policies (Details) | 6 Months Ended |
Mar. 31, 2014 | |
Details | ' |
Entity Incorporation, State Country Name | 'Nevada |
Entity Incorporation, Date of Incorporation | 10-Jun-98 |
2_Notes_Payable_Details
2. Notes Payable (Details) (USD $) | Mar. 31, 2014 | Sep. 30, 2013 | 22-May-09 | Jan. 10, 2007 | ||||
Details | ' | ' | ' | ' | ||||
Accounts payable converted to note payable | $3,774 | [1] | $3,774 | [1] | $1,669 | [1] | $2,105 | [1] |
[1] | 8% Interest. Convertible into common stock at $.025 per share. |
3_Notes_Payable_Stockholders_S1
3. Notes Payable, Stockholders: Schedule Of Stockholders Notes Payable (Details) (USD $) | Mar. 31, 2014 | Sep. 30, 2013 | ||
Details | ' | ' | ||
Note payable to an individual, also a stockholder of the Company | $6,000 | [1] | $6,000 | [1] |
Notes payable to an individual also a stockholder and director | 19,100 | [1] | 19,100 | [1] |
Notes payable, stockholders | $25,100 | $25,100 | ||
[1] | 8% interest. Convertible into common stock at $.025 per share. |
4_Issuance_of_Common_Stock_Det
4. Issuance of Common Stock (Details) (USD $) | 1 Months Ended | ||
Feb. 28, 1999 | Dec. 15, 2000 | Aug. 13, 1998 | |
Details | ' | ' | ' |
Common stock issue for cash at $.001/share on August 13, 1998 - shares | ' | ' | 1,000,000 |
Common Stock Issue For Cash On August 13 1998 PerShare | ' | ' | $0.00 |
Common stock issue for cash at $.001/share on August 13, 1998 | ' | ' | $1,000 |
Common stock issued for cash in February 1999 net of offering costs of $6,471 - shares | 17,500 | ' | ' |
Sale of Stock, Price Per Share | $1 | ' | ' |
Payments of Stock Issuance Costs | $6,471 | ' | ' |
Common Stock Returned | ' | 600,000 | ' |
6_Income_Taxes_Details
6. Income Taxes (Details) (USD $) | Mar. 31, 2014 |
Details | ' |
Operating Loss Carryforward | $77,701 |
7_Going_Concern_Details
7. Going Concern (Details) (USD $) | 3 Months Ended | 6 Months Ended | 190 Months Ended | |||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Sep. 30, 2013 | |
Details | ' | ' | ' | ' | ' | ' |
Net loss | $2,112 | $2,022 | $7,693 | $6,653 | $85,394 | ' |
Deficit accumulated during the development stage | 85,394 | ' | 85,394 | ' | 85,394 | 77,701 |
Total stockholders' equity | $44,612 | ' | $44,612 | ' | $44,612 | $44,409 |