InterAmerican Gaming (IAGM) 10-Q 7 Nov 13 2012 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Dec. 31, 2011	Oct. 28, 2013
Document And Entity Information	'	'
Entity Registrant Name	'InterAmerican Gaming, Inc.	'
Entity Central Index Key	'0001125053	'
Document Type	'10-Q	'
Document Period End Date	31-Dec-11	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--09-30	'
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 Common Stock, Shares Outstanding	'	184,460,165
Document Fiscal Period Focus	'Q1	'
Document Fiscal Year Focus	'2012	'

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Dec. 31, 2011	Sep. 30, 2011
Assets	'	'
HST receivable	$5,665	$1,452
Due from related parties (Note 4)	21,087	19,815
Total current assets	26,752	21,267
Total assets	26,752	21,267
LIABILITIES	'	'
Bank overdraft	4,337	3
Due to related parties (Note 4)	59,567	'
Accounts payable	268,352	8,639
Total current liabilities	332,256	8,642
Total liabilities	332,256	8,642
STOCKHOLDERS’ (DEFICIT) EQUITY	'	'
Common stock, $0.00001 par value, 200,000,000 shares authorized, 145,668,234 shares issued and outstanding (September 30, 2011: 1,000,000) (Note 8)	1,456	10
Additional paid-in capital	71,937	38,515
Subscription receivable	'	-879
Shares to be issued (14,416,667) (Note 6)	628,741	'
Deficit accumulated during the development stage	-989,888	-24,088
Accumulated other comprehensive (loss)	-938	-933
Total InterAmerican stockholders’(deficit) equity	-288,692	12,625
Non-controlling interest	-16,812	'
Total (deficit) equity	-305,504	12,625
Total liabilities and equity	$26,752	$21,267

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2011	Sep. 30, 2011
Statement of Financial Position [Abstract]	'	'
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	200,000,000	200,000,000
Common stock, issued	145,668,234	1,000,000
Common stock, outstanding	145,668,234	1,000,000

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (USD $)	3 Months Ended		23 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2011
Income Statement [Abstract]	'	'	'
Revenues	'	'	'
Expenses	'	'	'
General and administrative	26,140	12	36,691
Management fees – related party	39,096	'	39,096
Consulting fees	16,290	'	16,290
Director fees	16,000	'	16,000
Research and Development	2,691	'	16,228
Loss on acquisition (Note 3)	875,541	'	875,541
Total Expenses	975,758	12	999,846
Net (loss) before other income	-975,758	-12	-999,846
Other (expense) income:	'	'	'
Foreign Currency gain (loss)	-4,342	'	-4,342
Total other income	-4,342	'	-4,342
Net (loss)	-980,100	-12	-1,004,188
Net (loss)  attributable to non-controlling interest	-14,300	'	-14,300
Net (Loss) attributable to InterAmerican	-965,800	-12	-989,888
Net Loss per share, basic and diluted	($0.01)	$0	'
Weighted Average Number of Common Shares Outstanding During the Year – basic and diluted	156,303,345	936,757	'
Comprehensive (Loss):	'	'	'
Net (Loss)	-980,100	-12	-1,004,188
Foreign exchange translation adjustment for the period	-5	'	-938
Comprehensive (loss)	-980,105	-12	-1,005,126
Comprehensive (loss) attributable to non-controlling interest	-14,301	'	-14,487
Comprehensive (Loss) attributable to InterAmerican	($965,804)	($12)	($990,639)

Condensed_Consolidated_Stateme1

Condensed Consolidated Statement of Stockholders' Equity (USD $)	Common Stock	Additional Paid-In Capital	SharesTo Be Issued	Subscription Receivable	Deficit Accumulated During the Development Stage	Other Comprehensive Income	Non-controlling Interest	Total
Beginning Balance, Value at Jan. 21, 2010	$0	$0	$0	$0	$0	$0	$0	'
Beginning Balance, Shares at Jan. 21, 2010	0	'	'	'	'	'	'	'
Issuance of stock for subscription receivable, Shares	936,757	'	'	'	'	'	'	'
Issuance of stock for subscription receivable, Amount	9	870	'	-879	'	'	'	'
Ending Balance, Value at Sep. 30, 2010	9	870	0	-879	0	0	0	0
Ending Balance, Shares at Sep. 30, 2010	936,757	'	'	'	'	'	'	'
Shares issued for cash at $0.585 June 2011, Shares	63,243	'	'	'	'	'	'	'
Shares issued for cash at $0.585 June 2011, Amount	1	37,645	'	'	'	'	'	37,646
Foreign currency translation (loss)	'	'	'	'	'	-933	'	-933
Net (loss) attributable to InterAmerican	'	'	'	'	-24,088	'	'	-24,088
Ending Balance, Value at Sep. 30, 2011	10	38,515	'	-879	-24,088	-933	'	12,625
Ending Balance, Shares at Sep. 30, 2011	1,000,000	'	'	'	'	'	'	'
Effect of reverse acquisition, October 3, 2011, shares issued May 2012, Shares	144,668,234	'	'	'	'	'	'	'
Effect of reverse acquisition, October 3, 2011, shares issued May 2012, Amount	1,446	1,744	'	'	'	'	-2,512	678
Shares issued for cash at $0.02, Amount	'	'	35,000	'	'	'	'	35,000
Shares issued for cash at $0.03, June 2012, Amount	'	'	5,000	'	'	'	'	5,000
Settlement of related party fees	'	'	127,866	'	'	'	'	127,866
Shares to be issued for settlement with a related party	'	'	457,875	'	'	'	'	457,875
Settlement with a related party for forgiveness of debt	'	31,678	'	'	'	'	'	31,678
Share Subscription received	'	'	'	879	'	'	'	879
Settlement of consulting fees with an unrelated party	'	'	3,000	'	'	'	'	3,000
Foreign currency translation (loss)	'	'	'	'	'	-5	'	-5
Net (loss) attributable to non-controlling interest	'	'	'	'	'	'	-14,300	-14,300
Net (loss) attributable to InterAmerican	'	'	'	'	-965,800	'	'	-965,800
Ending Balance, Value at Dec. 31, 2011	$1,456	$71,937	$628,741	'	($989,888)	($938)	($16,812)	($305,504)
Ending Balance, Shares at Dec. 31, 2011	145,668,234	'	'	'	'	'	'	'

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Cash Flows (USD $)	3 Months Ended		23 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2011
Operating activities	'	'	'
Net (loss)	($980,100)	($12)	($1,004,188)
Adjustments to reconcile net loss to net cash:	'	'	'
Loss on acquisition	875,541	'	875,541
Changes in operating assets and liabilities:	'	'	'
Increase (decrease) in accounts payable	27,279	-32	35,918
Increase (decrease) in related party payables	37,164	'	37,164
Increase (decrease) in HST receivable	-4,213	'	-5,665
Net cash (used in) operating activities	-44,329	-44	-61,230
Financing activities	'	'	'
Bank overdraft	4,334	12	4,337
Advances from related parties	'	'	-19,784
Proceeds from stock subscriptions	40,000	'	40,000
Proceeds from issuance of shares	'	'	37,646
Net cash provided by financing activities	44,334	12	62,199
Effect of foreign exchange (loss)	-5	'	-938
Increase in cash and cash equivalents	'	-32	31
Cash and cash equivalents, beginning of year	'	32	-31
Cash and cash equivalents, end of year	'	'	'
Supplemental information	'	'	'
Interest paid	'	'	'
Income tax paid	'	'	'

1_NATURE_OF_BUSINESS_AND_GOING

1. NATURE OF BUSINESS AND GOING CONCERN	3 Months Ended
	Dec. 31, 2011
Accounting Policies [Abstract]	'
1. NATURE OF BUSINESS AND GOING CONCERN	'
	On July 7, 2011, the Company entered into a letter of intent with Baron Group Ventures ("BGV") to acquire an 80.1% interest in SoFit Mobile Inc. (“SoFit”) (formerly NOWPHIT Operations Inc.).
	On October 3, 2011, the Company entered into a settlement agreement with DealNet Capital Corp. (“DealNet”), a related party by virtue of common officers and directors, in which the Company transferred 10,000,000 of its common shares and 100% of its shares of IAG Peru to extinguish $457,875 in liabilities. The 10,000,000 common shares have not yet been issued. The transaction included the forgiveness of debt resulting in a $31,678 charge to equity as DealNet is a related party.
	On October 3, 2011, the Company executed a Share Exchange Agreement with SoFit and its shareholders (the “Share Exchange”) pursuant to which the Company purchased 80.1% of SoFit in exchange for 77,800,000 of the Company’s common shares valued at $240,000.
	In conjunction with the signing of the Share Exchange, all of the directors and officers of IAG, excluding J. Graham Simmonds, resigned and were replaced by nominees of SoFit. As of October 7, 2011, the Board of Directors of IAG was made up of J. Graham Simmonds, Gary Schwartz, Marc Askenasi and Henry J. Kloepper. Marc Askenasi was also appointed Chief Executive Officer and President, effective as of October 7, 2011.
	Officers of the Company are now as follows:
	Marc Askenasi	Director, Chief Executive Officer and President
	J. Graham Simmonds	Chairman & Interim Chief Financial Officer
	On October 21, 2011, the Company settled amounts of $130,866 owed to directors, officers and consultants with 2,500,000 common shares.
	SoFit is a mobile app that motivates users to keep physically active and have fun at the same time. Using SoFit users can track their activity to earn rewards, join fun and philanthropic challenges to support charities, and workout and compete with friends from all over the world. The SoFit mobile app was launched in July 2012.
	Going Concern
	The Company is in the development stage as defined by FASB Accounting Standards Codification (“FASB ASC”) subtopic 915-10 Development Stage Entities (“ASC 915-10”). As of the date of these financial statements, the Company has not earned any revenue, has working capital deficit of $305,504 and an accumulated deficit of $989,888. For the period from January 22, 2010 (date of inception) through December 31, 2011, the Company has accumulated losses of $989,888. Until such time that the Company generates sales, it will continue to operate at a loss. These conditions raise substantial doubt about the Company's ability to continue as a going concern. The Company has been financed by its shareholders and third party lenders to meet its obligations. The Company plans to begin earning revenue in the near future and generate profits to mitigate the above negative indicators.
	These financial statements have been prepared on the basis of accounting principles applicable to a going concern, which assumes that the company will continue in operation for the foreseeable future and will be able to realize its assets and discharge its liabilities in the normal course of operations. The Company’s future success is dependent upon its continued ability to raise sufficient capital either through equity financing or the sales of product, not only to finance its operating expenses, but to concentrate on its business activities. The consolidated financial statements do not include any adjustments to the amounts and classifications of the assets and liabilities that would be necessary if the going concern basis was not appropriate.

2_SUMMARY_OF_SIGNIFICANT_ACCOU

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Dec. 31, 2011
Accounting Policies [Abstract]	'
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
	The accounting policies of the Company are in accordance with accounting principles generally accepted in the United States of America.  Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s September 30, 2011 audited financial statements as previously filed.  Outlined below are those policies considered particularly significant:
	Development Stage Company
	The Company complies with the FASB ASC 915 Development Stage Entities and the Securities and Exchange Commission Act 7 for its characterization of the Company as development stage.
	Consolidated Financial Statements
	The consolidated financial statements include the accounts of the Company, its three subsidiaries, SoFit Mobile Inc., 6584292 Canada, Inc. and InterAmerican Operations, Inc. 6584292 Canada, Inc. and SoFit Mobile Inc. are incorporated under the laws of the Province of Ontario, Canada. 6584292 Canada, Inc is inactive. InterAmerican Gaming, Inc. and InterAmerican Operations, Inc. are incorporated under the laws of Nevada. All inter-company transactions have been eliminated.
	Non-controlling interest
	Non-controlling interest represents the interests of outside shareholders in the operating results and net assets of SoFit Mobile Inc. The non-controlling interest represents 19.9% of SoFit Mobile Inc.
	Foreign Currency Translation
	SoFit Mobile Inc.’s functional currency is in Canadian Dollars and it maintains its books and records in Canadian Dollars, the Company’s financial statements are converted to U.S. Dollars. The translation method used is the current rate method. Under the current rate method all assets and liabilities are translated at the current rate, stockholders’ equity accounts are translated at historical rates and revenues and expenses are translated at average rates for the reporting period. Due to the fact that items in the financial statements are being translated at different rates according to their nature, a translation adjustment is created. This translation adjustment has been included in Accumulated Other Comprehensive Income (Loss).
	The exchange rates used to translate amounts in CAD into USD for the purposes of preparing the financial statements were as follows:
			December 31,		September 30,
			2011		2011
	Period-end CAD-USD exchange rate		$	0.9833	$	0.954
	Average Period CAD-USD exchange rate		$	0.9774	$	1.0135
	Use of Estimates
	The preparation of financial statements in conformity with generally accepted accounting principles 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 period. Actual results could differ from these estimates, and such differences could be material.
	Cash and Cash Equivalents
	The Company considers all highly liquid investments with an initial maturity date of three months or less and money market accounts to be cash equivalents.
	HST Receivable
	The Company is required to pay Harmonized Sales Tax ("HST") on the goods and services provided by its suppliers.  This is a value added tax that is refunded back to the Company by the Government of Canada.  The Company currently has a large receivable due as a result of this tax and expects to receive the refund upon the filing of its overdue income tax returns.
	Acquisitions and Business Combinations
	The Company accounts for acquisitions and business combinations under the purchase method of accounting. The Company includes the results of operations of the acquired business from the acquisition date. Net assets of the companies acquired are recorded at their fair value at the acquisition date. The excess of the purchase price over the fair value of net assets acquired are included in intangible assets and goodwill in the accompanying consolidated balance sheets.
	Research and Development Cost
	In accordance with FASB ASC 985-Software, expenditure on research activities, undertaken with the prospect of gaining new technical knowledge and understanding, is recognized in the income statement when it is incurred.
	Expenditure on development activities, where research findings are applied to a plan or design for the production of new or substantially improved products and processes, is capitalized if the product or process is technically and commercially feasible. The expenditure capitalized includes the cost of materials and direct labor. Other development expenditure is recognized in the income statement as an expense is incurred. Capitalized development expenditure is stated at cost less accumulated amortization and impairment losses.
	Income Taxes
	The Company follows FASB ASC 740-Income Taxes, which requires the use of the asset and liability method of accounting of income taxes. Under the assets and liability method of FASB ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statements carrying amounts of existing assets and liabilities and loss carry forwards and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the year in which those temporary differences are expected to be recovered or settled.
	Fair Value of Financial Instruments
	The carrying value of cash and cash equivalents, HST receivable, due to and due from related parties, bank overdraft and accounts payable approximates fair value because of the short maturity of these instruments. Unless otherwise noted, it is management’s opinion that the Company is not exposed to significant interest, currency or credit risk arising from these financial instruments.
	Fair value is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is determined based upon assumptions that market participants would use in pricing an asset or liability. Fair value measurements are rated on a three-tier hierarchy as follows:
		●	Level 1 inputs: Quoted prices (unadjusted) for identical assets or liabilities in active markets;
		●	Level 2 inputs: Inputs, other than quoted prices included in Level 1, that are observable either directly or indirectly; and
		●	Level 3 inputs: Unobservable inputs for which there is little or no market data, which require the reporting entity to develop its own assumptions.
	In many cases, a valuation technique used to measure fair value includes inputs from multiple levels of the fair value hierarchy described above. The lowest level of significant input determines the placement of the entire fair value measurement in the hierarchy.
	Basic and Diluted Earnings (Loss) Per Share
	The Company reports basic earnings (loss) per share in accordance with FASB ASC 260-Earnings Per Share. Basic earnings (loss) per share is computed using the weighted average number of shares outstanding during the year. Diluted earnings per share include the potentially dilutive effect of outstanding common stock options and warrants which are convertible to common shares. Diluted loss per share is not presented if the results would be “anti-dilutive”.
	Recently Issued Accounting Standards
	Management does not believe that any recently issued, but not yet effective, accounting standard if currently adopted would have a material effect on the accompanying financial statements.

3_REVERSE_MERGER_TRANSACTION_A

3. REVERSE MERGER TRANSACTION AND ACCOUNTING	3 Months Ended
	Dec. 31, 2011
Business Combinations [Abstract]	'
REVERSE MERGER TRANSACTION AND ACCOUNTING	'
	On October 3, 2011, the Company entered into a Share Exchange Agreement (“Share Exchange”) with SoFit, Wagerphone Inc. (D.B.A: Baron Group Ventures) (“BGV”) and the Shareholders of SoFit (“SoFit Vendors”). On October 3, 2011, the Merger contemplated by the Share Exchange by and among the Registrant, SoFit, BGV and the SoFit Vendors was completed (the “Merger”). As a condition to closing, the Company issued a Secured Promissory Note to SoFit for the aggregate unpaid principal amount of up to U.S. $5,000,000 drawn in tranches of $50,000, due on or before October 3, 2016. Any amount owed at the end of the period is eliminated upon consolidation. In return, the Company received a General Security Agreement from SoFit granting the Company a security interest over all assets of SoFit until the Secured Promissory Note was duly repaid in full.
	In connection with the Merger, the Company and SoFit entered into a Deferred Share Issuance Agreement dated October 3, 2011 whereby the parties agreed to defer the issuance of the 77,800,000 fully paid common shares of the Registrant. It was agreed the shares would be issued to the SoFit Vendors from treasury no longer than 270 calendar days after closing.  The 77,800,000 shares related to this transaction were issued on May 9, 2012.
	Immediately prior to the completion of the Merger, the Registrant had 67,868,234 shares of common stock outstanding. As a result of the Merger, SoFit merged into the Company to become a subsidiary of the Registrant. Following the Merger, the Registrant has 145,668,234 shares of common stock outstanding which is inclusive of the 77,800,000 unissued common shares of the Registrant pursuant to the Deferred Share Issuance Agreement dated October 3, 2011.
	As a result of the reverse merger, during the period ended December 31, 2011, the Company recorded a loss on acquisition of $875,541. The significant components of the transaction are as follows:
	Assets acquired:	$	-
	Liabilities assumed:		874,862
	Common stock retained:		679
	Net	$	875,541
	In conjunction with the Merger, two out of the three directors and officers of IAG, John G. Simmonds (former Director, Chief Executive Officer and President) and Randy Barber (former Director), resigned from the Company, effective as of October 7, 2011. The Company replaced the Board of Directors with nominees of SoFit. Effective as of October 7, 2011, J. Graham Simmonds (a director prior to the merger) was appointed as Chairman of the Board of Directors; Gary Schwartz was appointed as Executive Vice Chairman of the Board of Directors; Marc Askenasi was appointed as Director, Chief Executive Officer and President; and Henry J. Kloepper was appointed as Director. Carrie J. Weiler remained as the Company’s Corporate Secretary.
	For financial purposes, the Merger represents a capital transaction of SoFit or a “reverse merger” rather than a business combination, because the sellers of SoFit effectively controlled the combined company immediately following the completion of the Merger. In accordance with Accounting Standards Codification (“ASC”) 805-10-40, Business Combinations; Reverse Acquisitions, SoFit Mobile was the acquiring entity for accounting purposes. While the transaction is accounted for using the purchase method of accounting, in substance the transaction was a recapitalization of SoFit’s capital structure. Accordingly, the assets and liabilities and the historical operations that will be reflected in IAG’s ongoing consolidated financial statements will be those of SoFit and will be recorded at the historical cost basis. IAG’s assets, liabilities and results of operations will be consolidated with the assets, liabilities and results of operations of SoFit after consummation of the Merger. IAG's historic capital accounts will be retroactively adjusted to reflect the equivalent number of shares issued by IAG in the Merger while SoFit’s historical retained earnings will be carried forward. The historical financial statements of IAG before the Merger will be replaced with the historical financial statements of SoFit before the Merger in all future filings with the SEC. The Merger is intended to be treated as a tax-free exchange under Section 368(a) of the Internal Revenue Code of 1986, as amended.

4_Related_Party_Transactions

4. Related Party Transactions	3 Months Ended
	Dec. 31, 2011
Related Party Transactions [Abstract]	'
4. Related Party Transactions	'
	Transactions with related parties are incurred in the normal course of business and are measured at the exchange amount, which is the amount of consideration established and agreed to between the related parties. The Company’s current and former officers and stockholders have advanced funds on a non-interest bearing basis to the Company for travel related and working capital purposes. The Company has not entered into any agreement on the repayment terms for these advances. As of December 31, 2011, the amounts due to related parties were $59,567 and amounts due from related parties were $21,087.  During the three month period ended December 31, 2011, the Company expensed $40,000 as consulting fee payable to three directors of the Company.
	During the period the Company settled $127,866 in consulting and director fees owing to related parties with 2,000,000 shares that were issued in May 2012.
	Amounts due to related parties consisted of:
		December 31,			September 30,
		2011			2011
	Entities with common directors and /or officers	$	(33,775	)	$	—
	Fees payable to officers and directors		(25,792	)		—
	Total	$	(59,567	)	$	—
	Amounts due from related parties consisted of:
		December 31,			September 30,
		2011			2011
	Entities with common directors and /or officers	$	9,557		$	9,272
	Advance on expenses owed from an officer of the Company		11,530			10,543
	Total	$	21,087		$	19,815

5_Research_and_Development

5. Research and Development	3 Months Ended
	Dec. 31, 2011
Research and Development [Abstract]	'
5. Research and Development	'
	During the three month period ended December 31, 2011, the Company expensed $2,691 towards the research and development of a commercialized version of its social gaming mobile application named SoFit. All costs associated with the development of the Application have been fully expensed as per ASC 985-Software.  The Application was brought to market on July 19, 2012 and has since been available to download from both the Apple and Android marketplaces.  The Company expensed Nil towards research and development costs for the three months ended December 31, 2010.

6_Shares_to_be_Issued

6. Shares to be Issued	3 Months Ended
	Dec. 31, 2011
Notes to Financial Statements	'
Shares to be Issued	'
	At December 31, 2011, the Company has $628,741 in unissued share liability consisting of the following:
		●	The Company settled $457,875 in amounts owing to a related party with 10,000,000 shares at $0.045, shares to be issued;
		●	The Company settled $127,866 in historical consulting fees with related and former related parties with 2,000,000 shares, the shares were issued in May 2012;
		●	The Company settled $3,000 in consultant fees payable to an unrelated party with 500,000 shares, the shares were issued in May 2012;
		●	The Company received $35,000 in cash for the purchase of 1,750,000 common shares at $0.02, the shares were issued in May 2012; and
		●	The Company received $5,000 in cash for the purchase of 166,667 common shares at $0.03, the shares were issued in June 2012.

7_Income_Taxes

7. Income Taxes	3 Months Ended
	Dec. 31, 2011
Income Tax Disclosure [Abstract]	'
7. Income Taxes	'
	The Company has tax losses available to be applied against future years income. Due to the losses incurred from a predecessor business and expected future operating results, management determined that it is more likely than not that the deferred tax asset resulting from the tax losses available for carryforward will not be realized in timely manner, through the reduction of future income tax payments. Accordingly a 100% valuation allowance has been recorded for deferred income tax assets.
	As at December 31, 2011, the Company had approximately $4,783,424 (December 31, 2010: $3,810,820) of Federal and State net operating loss carryovers available to offset future taxable income. Such carryovers expire through 2029. The Company’s income tax returns are subject to audit by the IRS and the years 2005 to 2012 remain open and subject to examination.

8_Share_Capital

8. Share Capital	3 Months Ended
	Dec. 31, 2011
Equity [Abstract]	'
Share Capital	'
	The Company has authorized capital of 200,000,000 shares of common stock with a par value of $0.00001 of which, 145,668,234 and 1,000,000 shares are issued and outstanding as of December 31, 2011 and September 30, 2011, respectively.
	During the three months ended December 31, 2011, the company issued 144,668,234 shares of its common stock.  The Company issued no shares during the three months ended December 31, 2010.
	The Company has an Incentive Stock Option Plan which was approved at a shareholders meeting held on July 14, 2008. The Company is authorized to issue up to 7,500,000 shares of its common stock under the plan. There were no stock options outstanding as of December 31, 2011.

9_Subsequent_Events

9. Subsequent Events	3 Months Ended
	Dec. 31, 2011
Subsequent Events [Abstract]	'
Subsequent Events	'
	On January 17, 2012, the Company appointed Gerald Goldberg to its Board of Directors.
	On January 30, 2012, NOWPHIT Operations Inc. was renamed to SoFit Mobile Inc., short for Social Fitness, as it was determined to better reflect the business of the Company’s subsidiary.
	On September 30, 2012, four consultants of the Company exercised their options, purchasing, 1,750,000 common shares at $0.02 and 133,333 common shares, 250,000 common shares and 1,389,889 common shares at $0.03. These options were granted in fiscal 2012. These shares were issued in June, 2013.
	On October 11, 2012, Mr. John Ryan was appointed to the Board of Directors.
	The first version of the SoFit Mobile Application was launched in July of 2012.  Registered users can earn virtual rewards, such as trophies and medals, as well as real-life rewards, such as location-based coupons and special offers.
	On November 20, 2012, the Company’s subsidiary SoFit Mobile Inc. was served a statement of claim by a human resources placement agency. The claim is for unpaid invoices dated September 4, 2012 in the amount of $39,550. This amount has been fully recorded in accounts payable on the balance sheet. On July 10, 2013, the Company and the other party reached a settlement in which $20,000 will be paid in cash in installments over a five week period and the remaining $19,550 will be settled with the issuance of 1,000,000 shares.
	On June 6, 2013, SoFit released Version 2.0 of its mobile application.  Version 2.0 features a number of key updates. Users can now walk, run and bike; challenge friends to beat their respective activity times; and participate remotely in global challenges, including races and charity events such as Augie’s Quest to Cure ALS Challenge.
	On October 21, 2013, SoFit Mobile Inc. (“SoFit”) was served a statement of claim for $282,412.04 plus interest and expenses by Xtreme Labs Inc. (“Xtreme”). Xtreme was engaged by SoFit on April 12, 2012 to develop an iOS-based application, an Android-based application, a mobile server and to provide quality assurance, design and product management support. The claim is for debt owed for services rendered by Xtreme to SoFit. The Company is in the midst of assessing the statement of claim and intends on filing a statement of defense. The amount has been accounted for in the normal course within accounts payable.

2_SUMMARY_OF_SIGNIFICANT_ACCOU1

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Dec. 31, 2011
Accounting Policies [Abstract]	'
Development Stage Company	'
	The Company complies with the FASB ASC 915 Development Stage Entities and the Securities and Exchange Commission Act 7 for its characterization of the Company as development stage.
Consolidated Financial Statements	'
	The consolidated financial statements include the accounts of the Company, its three subsidiaries, SoFit Mobile Inc., 6584292 Canada, Inc. and InterAmerican Operations, Inc. 6584292 Canada, Inc. and SoFit Mobile Inc. are incorporated under the laws of the Province of Ontario, Canada. 6584292 Canada, Inc is inactive. InterAmerican Gaming, Inc. and InterAmerican Operations, Inc. are incorporated under the laws of Nevada. All inter-company transactions have been eliminated.
Non-controlling interest	'
	Non-controlling interest represents the interests of outside shareholders in the operating results and net assets of SoFit Mobile Inc. The non-controlling interest represents 19.9% of SoFit Mobile Inc.
Foreign Currency Translation	'
	SoFit Mobile Inc.’s functional currency is in Canadian Dollars and it maintains its books and records in Canadian Dollars, the Company’s financial statements are converted to U.S. Dollars. The translation method used is the current rate method. Under the current rate method all assets and liabilities are translated at the current rate, stockholders’ equity accounts are translated at historical rates and revenues and expenses are translated at average rates for the reporting period. Due to the fact that items in the financial statements are being translated at different rates according to their nature, a translation adjustment is created. This translation adjustment has been included in Accumulated Other Comprehensive Income (Loss).
	The exchange rates used to translate amounts in CAD into USD for the purposes of preparing the financial statements were as follows:
			December 31,		September 30,
			2011		2011
	Period-end CAD-USD exchange rate		$	0.9833	$	0.954
	Average Period CAD-USD exchange rate		$	0.9774	$	1.0135
Use of Estimates	'
	The preparation of financial statements in conformity with generally accepted accounting principles 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 period. Actual results could differ from these estimates, and such differences could be material.
Cash and Cash Equivalents	'
	The Company considers all highly liquid investments with an initial maturity date of three months or less and money market accounts to be cash equivalents.
HST Receivable	'
	The Company is required to pay Harmonized Sales Tax ("HST") on the goods and services provided by its suppliers.  This is a value added tax that is refunded back to the Company by the Government of Canada.  The Company currently has a large receivable due as a result of this tax and expects to receive the refund upon the filing of its overdue income tax returns.
Acquisitions and Business Combinations	'
	The Company accounts for acquisitions and business combinations under the purchase method of accounting. The Company includes the results of operations of the acquired business from the acquisition date. Net assets of the companies acquired are recorded at their fair value at the acquisition date. The excess of the purchase price over the fair value of net assets acquired are included in intangible assets and goodwill in the accompanying consolidated balance sheets.
Research and Development Cost	'
	In accordance with FASB ASC 985-Software, expenditure on research activities, undertaken with the prospect of gaining new technical knowledge and understanding, is recognized in the income statement when it is incurred.
	Expenditure on development activities, where research findings are applied to a plan or design for the production of new or substantially improved products and processes, is capitalized if the product or process is technically and commercially feasible. The expenditure capitalized includes the cost of materials and direct labor. Other development expenditure is recognized in the income statement as an expense is incurred. Capitalized development expenditure is stated at cost less accumulated amortization and impairment losses.
Income Taxes	'
	The Company follows FASB ASC 740-Income Taxes, which requires the use of the asset and liability method of accounting of income taxes. Under the assets and liability method of FASB ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statements carrying amounts of existing assets and liabilities and loss carry forwards and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the year in which those temporary differences are expected to be recovered or settled.
Fair Value of Financial Instruments	'
	The carrying value of cash and cash equivalents, HST receivable, due to and due from related parties, bank overdraft and accounts payable approximates fair value because of the short maturity of these instruments. Unless otherwise noted, it is management’s opinion that the Company is not exposed to significant interest, currency or credit risk arising from these financial instruments.
	Fair value is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is determined based upon assumptions that market participants would use in pricing an asset or liability. Fair value measurements are rated on a three-tier hierarchy as follows:
		●	Level 1 inputs: Quoted prices (unadjusted) for identical assets or liabilities in active markets;
		●	Level 2 inputs: Inputs, other than quoted prices included in Level 1, that are observable either directly or indirectly; and
		●	Level 3 inputs: Unobservable inputs for which there is little or no market data, which require the reporting entity to develop its own assumptions.
	In many cases, a valuation technique used to measure fair value includes inputs from multiple levels of the fair value hierarchy described above. The lowest level of significant input determines the placement of the entire fair value measurement in the hierarchy.
Basic and Diluted Earnings (Loss) Per Share	'
	The Company reports basic earnings (loss) per share in accordance with FASB ASC 260-Earnings Per Share. Basic earnings (loss) per share is computed using the weighted average number of shares outstanding during the year. Diluted earnings per share include the potentially dilutive effect of outstanding common stock options and warrants which are convertible to common shares. Diluted loss per share is not presented if the results would be “anti-dilutive”.
Recently Issued Accounting Standards	'
	Management does not believe that any recently issued, but not yet effective, accounting standard if currently adopted would have a material effect on the accompanying financial statements.

2_SUMMARY_OF_SIGNIFICANT_ACCOU2

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Dec. 31, 2011
Accounting Policies [Abstract]	'
Exchange rates	'
		December 31,		September 30,
		2011		2011
	Period-end CAD-USD exchange rate	$	0.9833	$	0.954
	Average Period CAD-USD exchange rate	$	0.9774	$	1.0135

3_REVERSE_MERGER_TRANSACTION_A1

3. REVERSE MERGER TRANSACTION AND ACCOUNTING (Tables)	3 Months Ended
	Dec. 31, 2011
Business Combinations [Abstract]	'
The significant components of revese merger	'
	Assets acquired:	$	-
	Liabilities assumed:		874,862
	Common stock retained:		679
	Net	$	875,541

4_Related_Party_Transactions_T

4. Related Party Transactions (Tables)	3 Months Ended
	Dec. 31, 2011
Related Party Transactions [Abstract]	'
Amounts due (to)/from related parties	'
	Amounts due to related parties consisted of:
		December 31,			September 30,
		2011			2011
	Entities with common directors and /or officers	$	(33,775	)	$	—
	Fees payable to officers and directors		(25,792	)		—
	Total	$	(59,567	)	$	—
	Amounts due from related parties consisted of:
		December 31,			September 30,
		2011			2011
	Entities with common directors and /or officers	$	9,557		$	9,272
	Advance on expenses owed from an officer of the Company		11,530			10,543
	Total	$	21,087		$	19,815

1_NATURE_OF_BUSINESS_AND_GOING1

1. NATURE OF BUSINESS AND GOING CONCERN (Details Narrative) (USD $)	Dec. 31, 2011	Sep. 30, 2011
Nature Of Business And Going Concern Details Narrative	'	'
Negative Working capital	($305,504)	'
Accumulated deficit	$989,888	$24,088

2_SUMMARY_OF_SIGNIFICANT_ACCOU3

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	3 Months Ended	12 Months Ended
	Dec. 31, 2011	Sep. 30, 2011
Summary Of Significant Accounting Policies Details	'	'
Period-end CAD-USD exchange rate	0.9833	0.954
Average Period CAD-USD exchange rate	0.9774	1.0135

3_REVERSE_MERGER_TRANSACTION_A2

3. REVERSE MERGER TRANSACTION AND ACCOUNTING (Details) (USD $)	3 Months Ended
	Dec. 31, 2011
Reverse Merger Transaction And Accounting Details	'
Assets acquired:	'
Liabilities assumed:	874,862
Common stock retained:	679
Net	$875,541

4_Related_Party_Transactions_D

4. Related Party Transactions (Details) (USD $)	Dec. 31, 2011	Sep. 30, 2011
Amounts due to related parties	($59,567)	'
Amounts due from related parties	21,087	19,815
Entities with common directors and /or officers	'	'
Amounts due to related parties	-33,775	'
Amounts due from related parties	9,557	9,272
Fees payable to officers and directors	'	'
Amounts due to related parties	-25,792	'
Advance on expenses owed from an officer of the Company	'	'
Amounts due from related parties	$11,530	$10,543