Trimax (TMXN) 10-Q 22 Apr 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015
Document And Entity Information
Entity Registrant Name	Trimax Corporation
Entity Central Index Key	1094651
Document Type	10-Q
Document Period End Date	31-Mar-15
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?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding	414,564,000
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2015

Consolidated_Balance_Sheet

Consolidated Balance Sheet (USD $)	Mar. 31, 2015
CURRENT ASSETS
Cash	$8,035
Accounts Receivable	22,862
Other Receivable	0
Inventory	16,824
Prepaid Accounts	3,600
Total current assets	51,321
FIXED ASSETS	142,499
Total Assets	193,820
CURRENT LIABILITIES
Accounts Payable and Accrued Liabilities	79,284
Taxes payable	0
TOTAL CURRENT LIABILITIES	79,284
LONG TERM LIABILITIES	0
TOTAL LIABILITIES	79,284
SHAREHOLDERS' EQUITY
Common Stock, authorized shares 500,000,000, issued and outstanding - 414,564,000 @ PV $.001	414,564
Preferred Stock, issued and outstanding - 10,000,000 @ PV $.001	10,000
Paid In Capital	17,044,211
Deficit	-17,354,239
Total Stockholders' Equity	114,536
Total Liabilities and Stockholders' Equity	$193,820

Consolidated_Balance_Sheet_Par

Consolidated Balance Sheet (Parenthetical) (USD $)	Mar. 31, 2015
Statement of Financial Position [Abstract]
Common stock shares authorized	500,000,000
Common stock issued	414,564,000
Common stock outstanding	414,564,000
Common stock par value	$0.00
Preferred stock authorized	10,000,000
Preferred stock issued	10,000,000
Preferred stock outstanding	10,000,000
Preferred stock par value	$0.00

Consolidated_Statements_of_Ear

Consolidated Statements of Earnings and Retained Earnings (USD $)	3 Months Ended
	Mar. 31, 2015
REVENUE
Sales	$54,728
TOTAL SALES	54,728
COST OF SALES
Cost of Sales	11,384
TOTAL COST OF SALES	11,384
GROSS PROFIT	43,344
OPERATING EXPENSES
Administrative Expense	386,528
Selling Expense	67,845
TOTAL OPERATING EXPENSES	454,373
OTHER INCOME & EXPENSES	0
PROFIT (LOSS)	-411,029
NET PROFIT (LOSS)	-411,029
Deficit - Beginning of period	-16,943,210
Deficit - End of period	($17,354,239)

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	3 Months Ended
	Mar. 31, 2015
Cash flows from operating activities
Profit/Loss from operations	($411,029)
Adjustments to cash flows from operating activities:
Amortization of goodwill	0
Depreciation of fixed assets	0
Cash flows from operating activities	-411,029
Cash flows from investing activities:
Capital expenditures	-54,000
Investment in inventory	-2,154
Increase in accounts receivable	48,052
Increase in prepaid expenses	0
Cash used in investing activities	-8,102
Cash flows from financing activities:
Increase in accounts payable and accrued liabilities	66,106
Decrease in paid in capital	4,308
Increase in loans payable	0
Issuance of capital stock	350,000
Cash used for financing activities	420,414
Net increase (decrease) in cash	1,283
Cash at beginning of period	6,752
Cash at end of period	$8,035

1_General_Organization_and_Bus

1. General Organization and Business Issues	3 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
1. General Organization and Business Issues	On June 27, 2012 a share exchange agreement between the Company represented by the EX CEO Gordon Lee and Mina Mar Group was concluded for 35,000,000 common shares and 10,000,000 preferred shares with 10,000 to 1 super voting rights were exchanged for a payment of $100,000 to Gordon Lee for unpaid wages Additionally a line of credit for $ 3,500,000 was secured by the company through Emry Capital to whom the 35 million shares was assigned to in order to seek new merger Candidates Magellan1 and Bayern Industries. On July 11, 2012 the company acquired 100% of the outstanding capital stock of 1719702 Ont Inc. doing business as Bayern Industries, and Magellan 1 Import/Export On March 16, 2015, the company was satisfied with Bayern and Magellan pre determined benchmarks as per LOI and issued 350 million restricted common shares to Bayern Industries to complete the merger acquisition.

2_Summary_of_Significant_Accou

2. Summary of Significant Accounting Practices	3 Months Ended
	Mar. 31, 2015
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 March 31, 2015 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. As of March 31, 2015 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, 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	3 Months Ended
	Mar. 31, 2015
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 deficit for the 3 month period ending March 31, 2015 of - $ 411,029. 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	3 Months Ended
	Mar. 31, 2015
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	3 Months Ended
	Mar. 31, 2015
Equity [Abstract]
5. Shareholders' Equity	Common Stock: As of March 31, 2015 the company has 414,564,000 shares of common stock issued and outstanding as well as 10,000,000 preferred shares.

6_Provision_for_Income_Taxes

6. Provision for Income Taxes	3 Months Ended
	Mar. 31, 2015
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)	3 Months Ended
	Mar. 31, 2015
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 March 31, 2015 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. As of March 31, 2015 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.

1_General_Organization_and_Bus1

1. General Organization and Business Issues (Details Narrative)	3 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Stock issued in merger acquisition	350,000,000