Yummies (YUMM) 10-Q 9 May 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Mar. 31, 2018	May 01, 2018
Details
Registrant Name	YUMMIES INC
Registrant CIK	1,073,748
SEC Form	10-Q
Period End date	Mar. 31, 2018
Fiscal Year End	--09-30
Trading Symbol	yumm
Tax Identification Number (TIN)	870,615,629
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
Amendment Flag	false
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Entity Incorporation, State Country Name	Nevada
Entity Address, Address Line One	1981 East Murray Holiday Rd
Entity Address, City or Town	Salt Lake City
Entity Address, State or Province	Utah
Entity Address, Postal Zip Code	84,117
City Area Code	801
Local Phone Number	272-9294

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Mar. 31, 2018	Sep. 30, 2017
Current Assets
Cash	$ 0	$ 46
Prepaid expenses	10,000	3,333
Total current assets	10,000	3,379
Total Assets	10,000	3,379
Current Liabilities:
Accounts payable	6,150	1,200
Interest Payable, Current	3,120	2,968
Interest Payable, Stockholders	18,126	17,122
Notes Payable	3,774	3,774
Notes payable, stockholders	25,100	25,100
Total current liabilities	56,270	50,164
Stockholders' Equity:
Common shares	2,505	2,505
Additional paid-in capital	123,792	109,672
Accumulated deficit	(172,567)	(158,962)
Total Stockholders' Equity	(46,270)	(46,785)
Total Liabilities and Stockholders' Equity	$ 10,000	$ 3,379

Consolidated Balance Sheets - P

Consolidated Balance Sheets - Parenthetical	Mar. 31, 2018$ / sharesshares
Details
Common Stock, Par or Stated Value Per Share | $ / shares	$ 0.001
Common Stock, Shares Authorized	50,000,000
Common Stock, Shares, Outstanding	2,505,000
Common Stock, Shares, Issued	2,505,000

Consolidated Statement of Opera

Consolidated Statement of Operations - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Details
Revenues	$ 0	$ 0	$ 0	$ 0
Expenses, general and administrative	4,451	3,519	12,450	14,398
Operating loss	(4,451)	(3,519)	(12,450)	(14,398)
Other Nonoperating Income (Expense)
Interest expense	(578)	(578)	(1,155)	(1,155)
Net Loss	$ (5,029)	$ (4,097)	$ (13,605)	$ (15,553)
Net loss per share	$ 0	$ 0	$ (0.01)	$ (0.01)
Weighted-average shares outstanding	2,505,000	2,505,000	2,505,000	2,505,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities:
Net Loss	$ (13,605)	$ (15,553)
Adjustment to reconcile net loss to cash provided by operating activities:
Increase in prepaid expenses	(6,667)	(5,000)
Increase (decrease) in accounts payable and interest payable	6,106	(45)
Expenses paid directly by shareholder	14,120	20,520
Net cash used by operating activities	(46)	(78)
Net cash used by investing activities	0	0
Net cash used by financing activities	0	0
Net decrease in cash	(46)	(78)
Cash and cash equivalents	46	203
Cash and cash equivalents	0	125
Interest paid	0	0
Income taxes paid	$ 0	$ 0

1. Summary of Business and Sign

1. Summary of Business and Significant Accounting Policies	6 Months Ended
	Mar. 31, 2018
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. Planned principal operations have not yet commenced. The Company was formed to pursue business opportunities. 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 March 31, 2018 and September 30, 2017, 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, 2018
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 March 31, 2018 and September 30, 2017 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, 2018
Notes
3. Notes Payable, Stockholders	3. Notes Payable, Stockholders Stockholder notes payable consist of the following at March 31, 2018 and September 30, 2017: March 31, September 30, 2018 2017 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, 2018
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	6 Months Ended
	Mar. 31, 2018
Notes
5. Warrants and Stock 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	6 Months Ended
	Mar. 31, 2018
Notes
6. Income Taxes	6. Income Taxes Company has had no taxable income under Federal or State tax laws. The Company has loss carryforwards totaling $158,962 that may be offset against future federal income taxes if not used, the carryforwards will expire between 2021 and 2037. 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, 2018
Notes
7. Going Concern	7. Going Concern As shown in the accompanying financial statements, the Company incurred a net loss of $13,605 during the three months ended March 31, 2018 and accumulated losses of $172,567 since inception at June 10, 1998. The Company’s current liabilities exceed its current assets by $46,270 at March 31, 2018. 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)	6 Months Ended
	Mar. 31, 2018
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)	6 Months Ended
	Mar. 31, 2018
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)	6 Months Ended
	Mar. 31, 2018
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)	6 Months Ended
	Mar. 31, 2018
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)	6 Months Ended
	Mar. 31, 2018
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 March 31, 2018 and September 30, 2017, 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)	6 Months Ended
	Mar. 31, 2018
Tables/Schedules
Schedule Of Stockholders Notes Payable	March 31, September 30, 2018 2017 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)	6 Months Ended
	Mar. 31, 2018
Details
Entity Incorporation, State Country Name	Nevada
Entity Incorporation, Date of Incorporation	Jun. 10, 1998

2. Notes Payable (Details)

2. Notes Payable (Details) - USD ($)		Mar. 31, 2018	Sep. 30, 2017	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 ($)		Mar. 31, 2018	Sep. 30, 2017
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)	Mar. 31, 2018USD ($)
Details
Operating Loss Carryforward	$ 158,962

7. Going Concern (Details)

7. Going Concern (Details) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017	Sep. 30, 2017
Details
Net loss	$ 5,029	$ 4,097	$ 13,605	$ 15,553
Accumulated deficit	172,567		172,567		$ 158,962
Total Stockholders' Equity	$ 46,270		$ 46,270		$ 46,785