Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | |
Dec. 31, 2011 | Mar. 16, 2015 | |
Document And Entity Information | ||
Entity Registrant Name | Trimax Corporation | |
Entity Central Index Key | 1094651 | |
Document Type | 10-K | |
Document Period End Date | 31-Dec-11 | |
Amendment Flag | FALSE | |
Current Fiscal Year End Date | -19 | |
Is Entity a Well-known Seasoned Issuer? | No | |
Is Entity a Voluntary Filer? | No | |
Is Entity's Reporting Status Current? | No | |
Entity Filer Category | Smaller Reporting Company | |
Entity Public Float | $0 | |
Entity Common Stock, Shares Outstanding | 0 | |
Document Fiscal Period Focus | FY | |
Document Fiscal Year Focus | 2011 |
Consolidated_Balance_Sheet
Consolidated Balance Sheet (USD $) | Dec. 31, 2011 |
CURRENT ASSETS | |
Cash | $5,629 |
Accounts Receivable | 39,981 |
Other Receivable | 0 |
Inventory | 32,700 |
Prepaid Accounts | 5,610 |
Total current assets | 83,920 |
LONG-TERM EQUITY INVESTMENT | 0 |
FIXED ASSETS - NBV | 54,844 |
INTANGIBLE ASSETS - NBV | 0 |
Total Assets | 138,764 |
CURRENT LIABILITIES | |
Accounts Payable and Accrued Liabilities | 28,101 |
Notes Payable | 36,795 |
Taxes payable | 0 |
TOTAL CURRENT LIABILITIES | 64,896 |
LONG TERM LIABILITIES | 0 |
TOTAL LIABILITIES | 64,896 |
SHAREHOLDERS' EQUITY | |
Common Stock, authorized shares 120,000,000; Issued and outstanding - 30,564,000 @ PV $.001 | 30,564 |
Paid In Capital | 17,029,476 |
Deficit | -16,986,172 |
Total Equity | 73,868 |
Total Liabilities and Equity | $138,764 |
Consolidated_Balance_Sheet_Par
Consolidated Balance Sheet (Parenthetical) (USD $) | Dec. 31, 2011 |
Statement of Financial Position [Abstract] | |
Common stock shares authorized | 120,000,000 |
Common stock issued | 30,564,000 |
Common stock outstanding | 30,564,000 |
Common stock par value | $0.00 |
Consolidated_Statements_of_Ear
Consolidated Statements of Earnings and Retained Earnings (USD $) | 12 Months Ended |
Dec. 31, 2011 | |
REVENUE | |
Sales | $266,400 |
TOTAL SALES | 266,400 |
COST OF SALES | |
Cost of Sales | 60,932 |
TOTAL COST OF SALES | 60,932 |
GROSS PROFIT | 205,468 |
OPERATING EXPENSES | |
Administrative Expense | 241,377 |
Selling Expense | 51,658 |
TOTAL OPERATING EXPENSES | 293,035 |
OTHER INCOME & EXPENSES | 0 |
PROFIT (LOSS) | -87,567 |
NET PROFIT (LOSS) | -87,567 |
Deficit - Beginning of period | -16,898,605 |
Deficit - End of period | ($16,986,172) |
Consolidated_Statement_of_Cash
Consolidated Statement of Cash Flows (USD $) | 12 Months Ended |
Dec. 31, 2011 | |
Cash flows from operating activities | |
Profit/Loss from operations | ($87,567) |
Adjustments to cash flows from operating activities: | |
Amortization of goodwill | 0 |
Depreciation of fixed assets | 0 |
Cash flows from operating activities | -87,567 |
Cash flows from investing activities: | |
Capital expenditures | -54,844 |
Investment in inventory | -1,705 |
Increase in accounts receivable | -21,284 |
Increase in prepaid expenses | -4,110 |
Cash used in investing activities | -81,943 |
Cash flows from financing activities: | |
Increase in accounts payable and accrued liabilities | 81,221 |
Decrease in paid in capital | -389,348 |
Increase in loans payable | -118,200 |
Issuance of capital stock | 258,805 |
Cash used for financing activities | 167,522 |
Net increase (decrease) in cash | -1,988 |
Cash at beginning of period | 7,617 |
Cash at end of period | $5,629 |
1_General_Organization_and_Bus
1. General Organization and Business Issues | 12 Months Ended |
Dec. 31, 2011 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
1. General Organization and Business Issues | The company has announced a management plan to work diligently toward identifying viable merger candidates with high growth potential. |
2_Summary_of_Significant_Accou
2. Summary of Significant Accounting Practices | 12 Months Ended |
Dec. 31, 2011 | |
Accounting Policies [Abstract] | |
2. Summary of Significant Accounting Practices | Accounting policies and procedures are listed below. The company has adopted a December 31 year end. We have prepared the consolidated financial statements according to generally accepted accounting Principles (GAAP). |
Cash and Cash Equivalents | |
The Company considers all highly liquid investments with original maturities of three months or less as cash equivalents. As of December 31, 2011 the company had no cash or cash equivalent balances in excess of the federally insured amounts. The Company’s policy is to invest excess funds in only well capitalized financial institutions. | |
Earnings Per Share | |
The company adopted provisions of SFAS No. 128, 'Earnings per Share' SFAS No. 128 requires the presentation of basic and diluted earnings per share "EPS" Basic EPS is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS includes the potential dilution that could occur if options or other contracts to issue common stock were exercised or converted. The Company has not issued any options or warrants or similar securities since inception. | |
Stock Based Compensation | |
As permitted by Statement of Financial Accounting Standards ("SFAS") No. 148, "Accounting for Stock Based Compensation-Transition and Disclosure", which amended SFAS 123 ("SFAS 123"), "Accounting for Stock-Based Compensation", the Company has elected to continue to follow the intrinsic value method in accounting for its stock-based employee compensation arrangements as defined by Accounting Principles Board Opinion ("APB") No. 25, "Accounting for Stock Issued to Employees”, and related Interpretations including "Financial Accounting Standards Board Interpretations No. 44, Accounting for Certain Transactions Involving Stock Compensation", and interpretation of APB No. 25. At December 31, 2010 the Company has not formed a Stock Option Plan and has not issued any options. | |
Dividends | |
The Company has adopted a policy regarding the payment of dividends. Dividends may be paid to shareholders once all divisions are fully operational and profitable. The Board may also pay dividends to counter any short selling or undermining of the entity. See Note 1. | |
Fixed Assets | |
Fixed assets are carried at cost. Depreciation is computed using the straight-line method of depreciation over the assets’ estimated useful lives. Maintenance and repairs are charged to expense as incurred; major renewals and improvements are capitalized. When items of fixed assets are sold or retired, the related cost and accumulated depreciation is removed from the accounts and any gain or loss is included in income. | |
Income Taxes | |
The provision for income taxes is the total of the current taxes payable and the net of the change in the deferred income taxes. Provision is made for the deferred income taxes where differences exist between the period in which transactions affect current taxable income and the period in which they enter into the determination of net income in the financial statements. | |
Advertising | |
Advertising is expensed when incurred. | |
Use of Estimates | |
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. | |
Goodwill | |
Goodwill is created when we acquire a business. It is calculated by deducting the fair value of the net assets acquired from the consideration given and represents the value of factors that contribute to greater earning power, such as a good reputation and customer loyalty. We assess goodwill of individual subsidiaries for impairment in the fourth quarter of every year, and when circumstances indicate that goodwill might be impaired. |
3_Going_Concern
3. Going Concern | 12 Months Ended |
Dec. 31, 2011 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
3. Going Concern | The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company had a net loss for the period through to December 31, 2011 of $87,567. The Company’s continuation as a going concern is dependent on its ability to meet its obligations, to obtain additional financing as may be required and ultimately to attain profitability. These financial statements do not include any adjustments that might result from the outcome of this uncertainty. |
4_Recently_Issued_Accounting_S
4. Recently Issued Accounting Standards | 12 Months Ended |
Dec. 31, 2011 | |
Accounting Changes and Error Corrections [Abstract] | |
4. Recently Issued Accounting Standards | Management does not believe that any recently but not adopted accounting standards will have a material effect on the Company's results of operations or on the reported amounts of its assets and liabilities upon adoption. |
5_Shareholders_Equity
5. Shareholders' Equity | 12 Months Ended |
Dec. 31, 2011 | |
Equity [Abstract] | |
5. Shareholders' Equity | Common Stock: As of December 31, 2011 the company has 30,564,000 shares of common stock issued and outstanding. |
6_Provision_for_Income_Taxes
6. Provision for Income Taxes | 12 Months Ended |
Dec. 31, 2011 | |
Income Tax Disclosure [Abstract] | |
6. Provision for Income Taxes | It is more likely than not that some or all of the deferred tax assets will not be realized. The provision for income taxes is comprised of the net changes in deferred taxes less the valuation account plus the current taxes payable. The Company provides for income taxes under Statement of Financial Accounting Standards No. 109, Accounting for Income Taxes. SFAS No. 109 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect when these differences are expected to reverse. SFAS No. 109 requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The provision for income taxes is comprised of the net changes in deferred taxes less the valuation account plus the current taxes payable. |
2_Summary_of_Significant_Accou1
2. Summary of Significant Accounting Practices (Policies) | 12 Months Ended |
Dec. 31, 2011 | |
Accounting Policies [Abstract] | |
Cash and Cash Equivalents | Cash and Cash Equivalents |
The Company considers all highly liquid investments with original maturities of three months or less as cash equivalents. As of December 31, 2011 the company had no cash or cash equivalent balances in excess of the federally insured amounts. The Company’s policy is to invest excess funds in only well capitalized financial institutions. | |
Earnings Per Share | Earnings Per Share |
The company adopted provisions of SFAS No. 128, 'Earnings per Share' SFAS No. 128 requires the presentation of basic and diluted earnings per share "EPS" Basic EPS is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS includes the potential dilution that could occur if options or other contracts to issue common stock were exercised or converted. The Company has not issued any options or warrants or similar securities since inception. | |
Stock Based Compensation | Stock Based Compensation |
As permitted by Statement of Financial Accounting Standards ("SFAS") No. 148, "Accounting for Stock Based Compensation--Transition and Disclosure", which amended SFAS 123 ("SFAS 123"), "Accounting for Stock-Based Compensation", the Company has elected to continue to follow the intrinsic value method in accounting for its stock-based employee compensation arrangements as defined by Accounting Principles Board Opinion ("APB") No. 25, "Accounting for Stock Issued to Employees”, and related Interpretations including "Financial Accounting Standards Board Interpretations No. 44, Accounting for Certain Transactions Involving Stock Compensation", and interpretation of APB No. 25. At December 31, 2010 the Company has not formed a Stock Option Plan and has not issued any options. | |
Dividends | Dividends |
The Company has adopted a policy regarding the payment of dividends. Dividends may be paid to shareholders once all divisions are fully operational and profitable. The Board may also pay dividends to counter any short selling or undermining of the entity. See Note 1. | |
Fixed Assets | Fixed Assets |
Fixed assets are carried at cost. Depreciation is computed using the straight-line method of depreciation over the assets’ estimated useful lives. Maintenance and repairs are charged to expense as incurred; major renewals and improvements are capitalized. When items of fixed assets are sold or retired, the related cost and accumulated depreciation is removed from the accounts and any gain or loss is included in income. | |
Income Taxes | Income Taxes |
The provision for income taxes is the total of the current taxes payable and the net of the change in the deferred income taxes. Provision is made for the deferred income taxes where differences exist between the period in which transactions affect current taxable income and the period in which they enter into the determination of net income in the financial statements. | |
Advertising | Advertising |
Advertising is expensed when incurred. | |
Use of Estimates | Use of Estimates |
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. | |
Goodwill | Goodwill |
Goodwill is created when we acquire a business. It is calculated by deducting the fair value of the net assets acquired from the consideration given and represents the value of factors that contribute to greater earning power, such as a good reputation, customer loyalty.We assess goodwill of individual subsidiaries for impairment in the fourth quarter of every year, and when circumstances indicate that goodwill might be impaired. |