Yummies (YUMM) 10-Q 11 Aug 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jun. 30, 2017	Aug. 01, 2017
Document and Entity Information:
Registrant Name	YUMMIES INC
SEC Form	10-Q
Period End date	Jun. 30, 2017
Trading Symbol	yumm
Amendment Flag	false
Registrant CIK	1,073,748
Fiscal Year End	--09-30
Number of common stock shares outstanding		2,505,000
Filer Category	Smaller Reporting Company
Current with reporting	Yes
Voluntary filer	No
Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Entity Incorporation, State Country Name	Nevada
Entity Incorporation, Date of Incorporation	Jun. 10, 1998

Balance Sheets

Balance Sheets - USD ($)	Jun. 30, 2017	Sep. 30, 2016
Current Assets:
Cash	$ 86	$ 203
Prepaid expenses	5,833	3,333
Total current assets	5,919	3,536
Total Assets	5,919	3,536
Current Liabilities:
Accounts payable		5,800
Interest payable	2,892	2,666
Interest payable, stockholders	16,621	15,115
Notes payable	3,774	3,774
Notes payable, stockholders	25,100	25,100
Total current liabilities	48,387	52,455
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	108,792	81,412
Accumulated deficit	(153,765)	(132,836)
Total stockholders' equity	(42,468)	(48,919)
Total Liabilities and Stockholders' Equity	$ 5,919	$ 3,536

Balance Sheets Parenthetical

Balance Sheets Parenthetical - $ / shares	Jun. 30, 2017	Sep. 30, 2016
Balance Sheets Parenthetical
Common stock par value	$ 0.001	$ 0.001
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		9 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Statements of Operations
Revenues
Expenses, general and administrative	4,799	5,039	19,197	16,757
Operating loss	(4,799)	(5,039)	(19,197)	(16,757)
Other income (expense):
Interest expense	(578)	(578)	(1,733)	(1,733)
Net loss	$ (5,377)	$ (5,617)	$ (20,930)	$ (18,490)
Net loss per share			$ (0.01)	$ (0.01)
Weighted average shares outstanding	2,505,000	2,505,000	2,505,000	2,505,000

Statement of Cash Flows

Statement of Cash Flows - USD ($)	9 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities:
Net loss	$ (20,930)	$ (18,490)
Adjustment to reconcile net loss to cash provided by operating activities:
Increase in prepaid expenses	(2,500)	(2,500)
Increase (decrease) in accounts payable and interest payable	(4,067)	1,383
Expenses paid directly by shareholder	27,380	19,490
Net cash used by operating activities	(117)	(117)
Cash flows from investing activities
Cash flows from financing activities:
Net decrease in cash	(117)	(117)
Cash, beginning of period	203	359
Cash, end of period	86	242
Interest paid
Income taxes paid

1. Summary of Business and Sign

1. Summary of Business and Significant Accounting Policies	9 Months Ended
	Jun. 30, 2017
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. 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 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 June 30, 2017 and September 30, 2016 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	9 Months Ended
	Jun. 30, 2017
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 June 30, 2017 and September 30, 2016 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	9 Months Ended
	Jun. 30, 2017
Notes
3. Notes Payable, Stockholders	3. Notes Payable, Stockholders Stockholder notes payable consist of the following at June 30, 2017 and September 30, 2016: June 30, September 30, 2017 2016 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	9 Months Ended
	Jun. 30, 2017
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 Stock Options

5. Warrants and Stock Options	9 Months Ended
	Jun. 30, 2017
Notes
5. Warrants and Stock Options	5. Warrants and Options No options or warrants are outstanding to acquire the Company's common stock.

6. Income Taxes

6. Income Taxes	9 Months Ended
	Jun. 30, 2017
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 $132,832 that may be offset against future federal income taxes. If not used, the carryforwards will expire between 2021 and 2036. 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	9 Months Ended
	Jun. 30, 2017
Notes
7. Going Concern	7. Going Concern As shown in the accompanying financial statements, the Company incurred a net loss of $20,930 during the nine months ended June 30, 2017 and accumulated losses of $153,765 since inception at June 10, 1998. The Company’s current liabilities exceed its current assets by $42,468 at June 30, 2017. 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 Si13

1. Summary of Business and Significant Accounting Policies: B. Basis of Presentation (Policies)	9 Months Ended
	Jun. 30, 2017
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 Si14

1. Summary of Business and Significant Accounting Policies: C. Cash Flows (Policies)	9 Months Ended
	Jun. 30, 2017
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 Si15

1. Summary of Business and Significant Accounting Policies: D. Net Loss Per Share (Policies)	9 Months Ended
	Jun. 30, 2017
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 Si16

1. Summary of Business and Significant Accounting Policies: E. Use of Estimates (Policies)	9 Months Ended
	Jun. 30, 2017
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 Si17

1. Summary of Business and Significant Accounting Policies: F. Fair Value of Financial Instruments (Policies)	9 Months Ended
	Jun. 30, 2017
Policies
F. Fair Value of Financial Instruments	f. Fair Value of Financial Instruments ASC 820-10 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 June 30, 2017 and September 30, 2016 the carrying value of certain financial instruments approximates fair value due to the short-term nature of such instruments.

3. Notes Payable, Stockholders_

3. Notes Payable, Stockholders: Schedule Of Stockholders Notes Payable (Tables)	9 Months Ended
	Jun. 30, 2017
Tables/Schedules
Schedule Of Stockholders Notes Payable	June 30, September 30, 2017 2016 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 Si19

1. Summary of Business and Significant Accounting Policies (Details)	9 Months Ended
	Jun. 30, 2017
Details
Entity Incorporation, State Country Name	Nevada
Entity Incorporation, Date of Incorporation	Jun. 10, 1998

2. Notes Payable (Details)

2. Notes Payable (Details) - USD ($)		Jun. 30, 2017	Sep. 30, 2016	May 22, 2009	Jan. 10, 2007
Details
Accounts payable converted to note payable	[1]	$ 3,774	$ 3,774	$ 1,669	$ 2,105
[1]	8% Interest. Convertible into common stock at $.025 per share.

3. Notes Payable, Stockholder21

3. Notes Payable, Stockholders: Schedule Of Stockholders Notes Payable (Details) - USD ($)		Jun. 30, 2017	Sep. 30, 2016
Details
Note payable to an individual, also a stockholder of the Company	[1]	$ 6,000	$ 6,000
Notes payable to an individual also a stockholder and director	[1]	19,100	19,100
Notes payable, stockholders		$ 25,100	$ 25,100
[1]	8% interest. Convertible into common stock at $.025 per share.

4. Issuance of Common Stock (De

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 Issued for Cash at $0.001/Share on August 13, 1998 - Shares				1,000,000
Common Stock Issue For Cash On August 13 1998 PerShare				$ 0.001
Common Stock Issued 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)	Jun. 30, 2017USD ($)
Details
Operating Loss Carryforward	$ 132,832

7. Going Concern (Details)

7. Going Concern (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Sep. 30, 2016
Details
Net loss	$ 5,377	$ 5,617	$ 20,930	$ 18,490
Accumulated deficit	153,765		153,765		$ 132,836
Total Stockholders' Equity	$ 42,468		$ 42,468		$ 48,919