Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Sep. 30, 2014 | Dec. 01, 2014 | Mar. 31, 2014 | |
Document and Entity Information | |||
Entity Registrant Name | YUMMIES INC | ||
Document Type | 10-K | ||
Document Period End Date | 30-Sep-14 | ||
Amendment Flag | FALSE | ||
Entity Central Index Key | 1073748 | ||
Current Fiscal Year End Date | -21 | ||
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 | FY | ||
Entity Public Float | $0 | ||
Entity Incorporation, State Country Name | Nevada | ||
Entity Incorporation, Date of Incorporation | 10-Jun-98 |
Balance_Sheet
Balance Sheet (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
Current Assets: | ||
Cash | $470 | $565 |
Total current assets | 470 | 565 |
Total Assets | 470 | 565 |
Current Liabilities: | ||
Accounts payable | 6,050 | 5,250 |
Interest payable | 2,063 | 1,760 |
Interest payable, stockholder | 11,098 | 9,090 |
Notes payable | 3,774 | 3,774 |
Notes payable, stockholders | 25,100 | 25,100 |
Total current liabilities | 48,085 | 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 | 40,327 | 30,787 |
Deficit accumulated during the development stage | -90,447 | -77,701 |
Total stockholders' equity | -47,615 | -44,409 |
Total Liabilities and Stockholders' Equity | $470 | $565 |
Balance_Sheet_Parenthetical
Balance Sheet Parenthetical (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
Balance Sheet Parenthetical | ||
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 $) | 12 Months Ended | 196 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | |
Statements of Operations | |||
Revenues | |||
Expenses, general and administrative | 10,436 | 9,861 | 77,287 |
Operating loss | -10,436 | -9,861 | 77,287 |
Interest expense | -2,310 | -2,340 | -13,160 |
Loss before provision for income taxes | -12,746 | -12,201 | -90,447 |
Provision for income taxes | |||
Net loss | ($12,746) | ($12,201) | ($90,447) |
Net loss per share | ($0.01) | ($0.04) | |
Weighted average shares outstanding | 2,505,000 | 2,505,000 | 2,463,444 |
Statements_Of_Stockholders_Equ
Statements Of Stockholders' Equity (USD $) | Common Stock | Additional Paid-in Capital | Deficit Accumulated During the Development Stage | Total |
Balance at Jun. 09, 1998 | ||||
Common stock issued for cash in February 1999 net of offering costs of $6,471 | $18 | $11,011 | $11,029 | |
Common stock issued for cash in February 1999 net of offering costs of $6,471 - shares | 17,500 | |||
Common stock returned by officer on December 15, 2000 | -600 | 600 | ||
Common stock returned by officer on December 15, 2000 -shares | -600,000 | |||
6 for 1 forward stock split on February 5, 2001 | 2,087 | -2,087 | ||
6 for 1 forward stock split on February 5, 2001 - shares | 2,087,500 | |||
Contribution by shareholder for company expenses paid directly by shareholder | 11,398 | 11,398 | ||
Cash contributed by shareholder on June 13, 2012 | 1,000 | 1,000 | ||
Net loss | -65,500 | -65,500 | ||
Balance at Sep. 30, 2012 | 2,505 | 21,922 | -65,500 | -41,073 |
Balance - shares at Sep. 30, 2012 | 2,505,000 | |||
Contribution by shareholder for company expenses paid directly by shareholder | 8,865 | 8,865 | ||
Net loss | -12,201 | -12,201 | ||
Balance at Sep. 30, 2013 | 2,505 | 30,787 | -77,701 | -44,409 |
Balance - shares at Sep. 30, 2013 | 2,505,000 | |||
Contribution by shareholder for company expenses paid directly by shareholder | 9,540 | 9,540 | ||
Net loss | -12,746 | -12,746 | ||
Balance at Sep. 30, 2014 | $2,505 | $40,327 | ($90,447) | ($47,615) |
Balance - shares at Sep. 30, 2014 | 2,505,000 |
Statements_Of_Stockholders_Equ1
Statements Of Stockholders' Equity Parenthetical (USD $) | 136 Months Ended |
Sep. 30, 2009 | |
Statements Of Stockholders' Equity Parenthetical | |
Common stock offering costs | $6,471 |
Statement_of_Cash_Flows
Statement of Cash Flows (USD $) | 12 Months Ended | 196 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | |
Cash flows from operating activities: | |||
Net loss | ($12,746) | ($12,201) | ($90,447) |
Adjustments to reconcile net loss to cash provided by operating activities: | |||
Contribution from shareholder | 9,540 | 8,865 | 29,802 |
Increase in accounts payable converted into note payable | 7,875 | ||
Increase (decrease) in accounts payable | 800 | 900 | 6,050 |
Increase in interest payable | 2,311 | 2,339 | 13,161 |
Net cash used by operating activities | -95 | -97 | -33,559 |
Cash flows from investing activities | |||
Cash flows from financing activities: | |||
Cash contributed by shareholder | 1,000 | ||
Proceeds from related party borrowing | 21,000 | ||
Issuance of common stock | 12,029 | ||
Net cash provided by financing activities | 34,029 | ||
Net increase (decrease) in cash | -95 | -97 | 470 |
Cash, beginning of period | 565 | 662 | |
Cash, end of period | 470 | 565 | 470 |
Interest paid | |||
Income taxes paid | |||
Accounts payable converted into note payable | $7,875 |
1_Summary_of_Business_and_Sign
1. Summary of Business and Significant Accounting Policies | 12 Months Ended |
Sep. 30, 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. | |
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 equivalents. | |
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 September 30, 2014 and 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 | 12 Months Ended |
Sep. 30, 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 a one-year notes payable. The note balance of $3,774 at September 30, 2014 and 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 | 12 Months Ended | |||||
Sep. 30, 2014 | ||||||
Notes | ||||||
3. Notes Payable, Stockholders | 3. Notes Payable, Stockholders | |||||
Stockholder notes payable consist of the following at September 30, 2014 and 2013: | ||||||
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 | 12 Months Ended |
Sep. 30, 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 | 12 Months Ended |
Sep. 30, 2014 | |
Notes | |
5. Warrants and Options | 5. Warrants and Stock Options |
No options or warrants are outstanding to acquire the Company's common stock. |
6_Income_Taxes
6. Income Taxes | 12 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Notes | ||||||||
6. Income Taxes | 6. Income Taxes | |||||||
At September 30, 2014, and 2013, the Company had net deferred tax assets of $30,752, and $26,418, respectively. Due to uncertainties surrounding the Company’s ability to generate future taxable income to realize these assets, a full valuation allowance has been established to offset the net deferred tax asset. | ||||||||
The provision for income tax consists of the following components at September 30, 2014 and 2013: | ||||||||
2014 | 2013 | |||||||
Current: | ||||||||
Federal income taxes | $ | - | $ | - | ||||
State income taxes | - | - | ||||||
Deferred | - | - | ||||||
$ | - | $ | - | |||||
The following reconciles income taxes reported in the financial statements to taxes that would be obtained by applying regular tax rates to income before taxes: | ||||||||
2014 | 2013 | |||||||
Expected tax benefit using regular rates | $ | -4,334 | $ | -4,148 | ||||
State minimum tax | - | - | ||||||
Valuation allowance | 4,334 | 4,148 | ||||||
Tax Provision | $ | - | $ | - | ||||
The Company has loss carry forwards totaling $90,447 that may be offset against future federal income taxes. If not used, the carry forwards will expire between 2021 and 2034. | ||||||||
As a result of the implementation of certain provisions of ASC 740, Income Taxes, (formerly FIN 48, Accounting for Uncertainty in Income Taxes – An Interpretation of FASB Statement No. 109), the Company performed an analysis of its previous tax filings and determined that there were no positions taken that it considered uncertain. Therefore, there was no provision for uncertain tax positions for the years ended September 30, 2014 and 2013. Future changes in uncertain tax positions are not expected to have an impact on the effective tax rate due to the existence of the valuation allowance. The Company will continue to classify income tax penalties and interest, if any, as part of interest and other expenses in its statements of operations. The Company has incurred no interest or penalties as of September 30, 2014 and 2013. | ||||||||
The federal income tax returns of the Company for 2013, 2012 and 2011 are subject to examination by the IRS, generally for three years after they were filed. |
7_Going_Concern
7. Going Concern | 12 Months Ended |
Sep. 30, 2014 | |
Notes | |
7. Going Concern | 7. Going Concern |
As shown in the accompanying financial statements, the Company incurred a net loss of $12,746 during year ended September 30, 2014 and accumulated losses of $90,447 since inception at June 10, 1998. The Company’s current liabilities exceed its current assets by $47,615 at September 30, 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. |
8_Subsequent_Events_Date_of_Ma
8. Subsequent Events - Date of Management Evaluation | 12 Months Ended |
Sep. 30, 2014 | |
Notes | |
8. Subsequent Events - Date of Management Evaluation | 8. Subsequent Events - Date of Management Evaluation |
Management has evaluated subsequent events through December 16, 2014 the date on which the financial statements were available to be issued. |
1_Summary_of_Business_and_Sign1
1. Summary of Business and Significant Accounting Policies: B. Basis of Presentation (Policies) | 12 Months Ended |
Sep. 30, 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. | |
1_Summary_of_Business_and_Sign2
1. Summary of Business and Significant Accounting Policies: C. Cash Flows (Policies) | 12 Months Ended |
Sep. 30, 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 equivalents. | |
1_Summary_of_Business_and_Sign3
1. Summary of Business and Significant Accounting Policies: D. Net Loss Per Share (Policies) | 12 Months Ended |
Sep. 30, 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) | 12 Months Ended |
Sep. 30, 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) | 12 Months Ended |
Sep. 30, 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 September 30, 2014 and 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) | 12 Months Ended | |||||
Sep. 30, 2014 | ||||||
Tables/Schedules | ||||||
Schedule Of Stockholders Notes Payable | ||||||
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 |
6_Income_Taxes_Schedule_of_Com
6. Income Taxes: Schedule of Components of Income Tax Expense (Benefit) (Tables) | 12 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Tables/Schedules | ||||||||
Schedule of Components of Income Tax Expense (Benefit) | ||||||||
2014 | 2013 | |||||||
Current: | ||||||||
Federal income taxes | $ | - | $ | - | ||||
State income taxes | - | - | ||||||
Deferred | - | - | ||||||
$ | - | $ | - |
6_Income_Taxes_Schedule_of_Eff
6. Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Tables) | 12 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Tables/Schedules | ||||||||
Schedule of Effective Income Tax Rate Reconciliation | ||||||||
2014 | 2013 | |||||||
Expected tax benefit using regular rates | $ | -4,334 | $ | -4,148 | ||||
State minimum tax | - | - | ||||||
Valuation allowance | 4,334 | 4,148 | ||||||
Tax Provision | $ | - | $ | - |
1_Summary_of_Business_and_Sign6
1. Summary of Business and Significant Accounting Policies (Details) | 12 Months Ended |
Sep. 30, 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 $) | Sep. 30, 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 $) | Sep. 30, 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, 2001 | 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 | |||
Stockholders' Equity Note, Stock Split | the Company authorized a 6 for 1 forward split of its common shares |
6_Income_Taxes_Details
6. Income Taxes (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
Details | ||
Deferred Tax Assets Net | $30,752 | $26,418 |
Operating Loss Carryforward | $90,447 |
6_Income_Taxes_Schedule_of_Eff1
6. Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Details) (USD $) | 12 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Details | ||
Expected tax benefit using regular rates | ($4,334) | ($4,148) |
Valuation Allowance | $4,334 | $4,148 |
7_Going_Concern_Details
7. Going Concern (Details) (USD $) | 12 Months Ended | 172 Months Ended | 196 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | |
Details | ||||
Net loss | $12,746 | $12,201 | $65,500 | $90,447 |
Deficit accumulated during the development stage | 90,447 | 77,701 | 90,447 | |
Total stockholders' equity | $47,615 | $44,409 | $41,073 | $47,615 |