Curative Biosciences (CBDX) 10-Q 19 Nov 15 2015 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Sep. 30, 2015	Nov. 04, 2015
Document And Entity Information
Entity Registrant Name	AMAIZE BEVERAGE CORPORATION
Entity Central Index Key	1,137,005
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--06-30
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		11,911,030
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,015

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)	Sep. 30, 2015	Jun. 30, 2015
Current Assets
Cash	$ 2,001	$ 2,001
Total Current Assets	2,001	2,001
Property and Equipment
Office equipment (net of accumulated depreciation)	7,249	7,961
Total Fixed Assets	7,249	7,961
Total Assets	9,250	9,962
Current Liabilities
Accounts payable	127,839	123,495
Accounts payable related parties	2,425	8,875
Accrued liabilities	6,573	6,573
Directors' fees	157,500	157,500
Liability for lawsuit judgement	200,761	200,761
Liability for lease judgement	181,968	181,968
Payroll taxes	3,565	3,565
Shareholder loans	32,041	23,027
Total Current Liabilities	712,672	705,764
Total Liabilities	$ 712,672	$ 705,764
Stockholders' Deficit
Preferred stock $0.001 par value 25,000,000 authorized No shares issued
Common stock $0.001 par value 200,000,000 shares authorized 11,911,030 and 11,261,030 issued and outstanding at September 30, 2015 and June 30, 2015 respectively	$ 11,911	$ 11,261
Additional paid-in capital	51,242,196	50,744,846
Deficit accumulated	(51,957,529)	(51,451,909)
Total Stockholders' Deficit	(703,422)	(695,802)
Total Liabilities and Stockholders' Deficit	$ 9,250	$ 9,962

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2015	Jun. 30, 2015
Condensed Balance Sheets Parenthetical
Preferred stock, Par value	$ 0.001	$ 0.001
Preferred stock, authorized	25,000,000	25,000,000
Preferred stock, shares issued
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	11,911,030	11,261,030
Common stock, shares outstanding	11,911,030	11,261,030

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Condensed Statements Of Operations
Revenues
Operating Expenses
General and administrative expenses	$ 489,495	$ 58,560
Loss on settlement of liabilities with equity - related party	16,125
Total operating expenses	505,620	58,560
Operating loss	$ (505,620)	$ (58,560)
Provision for income taxes
Net loss	$ (505,620)	$ (58,560)
Net loss per share-basic and diluted	$ (0.04)	$ (0.01)
Weighted average number of common shares outstanding - basic and diluted	11,527,878	5,467,380

Statements of Stockholders' Equ

Statements of Stockholders' Equity - USD ($)	Common Shares	Additional Paid-In Capital	Deficit Accumulated	Total
Beginning balance, shares at Jun. 30, 2014	5,467,380
Beginning balance, amount at Jun. 30, 2014	$ 5,467	$ 47,712,065	$ (48,083,324)	$ (365,792)
Common shares issued for services, shares	115,000
Common shares issued for services, Amount	$ 45	199,205		199,250
Common shares issued for services related parties, Shares	2,500,000
Common shares issued for services related parties, Amount	$ 2,570	1,247,430		1,250,000
Common shares issued for settlement of liabilities - related parties, Shares	3,178,650
Common shares issued for settlement of liabilities - related parties, Amount	$ 3,179	1,586,146		1,589,325
Ending balance, shares at Jun. 30, 2015	11,261,030
Ending balance, Amount at Jun. 30, 2015	$ 11,261	50,744,846	(51,451,909)	(695,802)
Common shares issued for services, shares	512,500
Common shares issued for services, Amount	$ 513	359,987		360,500
Common shares issued for services related parties, Shares	112,500
Common shares issued for services related parties, Amount	$ 112	112,388		112,500
Common shares issued for settlement of liabilities - related parties, Shares	25,000
Common shares issued for settlement of liabilities - related parties, Amount	$ 25	24,975		25,000
Net loss			(505,620)	(505,620)
Ending balance, shares at Sep. 30, 2015	11,911,030
Ending balance, Amount at Sep. 30, 2015	$ 11,911	$ 51,242,196	$ (51,957,529)	$ (703,422)

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash Flows from Operating Activities
Net loss	$ (505,620)	$ (58,560)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	$ 712	712
Amortization of websites and license drink		$ 625
Shares issued for settlement of accounts payable	$ 8,875
Loss on settlement of liabilities for equity	16,125
Shares issued for services	112,500
Shares issued for services related party	$ 360,500
Changes in operating assets and liabilities
Increase (decrease) in accured liabilities		$ 1,626
Increase in accounts payable	$ 4,344	$ 21,443
Increase in accounts payable - related party	(6,450)
Net Cash Used in Operating Activities	$ (9,014)	$ (34,154)
Cash Flows from Investing Activities
Net Cash Provided by (used in) Investing Activities
Cash Flows from Financing Activities
Shareholder loans advanced	$ 9,014	$ 34,154
Net Cash Provided by Financing Activities	$ 9,014	$ 34,154
Net increase (decrease) in Cash
Cash - Beginning of Period	$ 2,001	$ 1,815
Cash - Ending of Period	$ 2,001	$ 1,815
Supplemental Disclosure
Income taxes paid
Interest paid
Non-Cash Investing and Financing Activities
Shares issued for services	$ 112,500
Shares issued for services - related party	$ 112,500
Settlement of accounts payable for shares-related party	8,875
Loss on settlement of liabilities with equity - related party	$ 16,125

The Company

The Company	3 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
1. The Company	On October 4, 2013, Healthient, Inc. ("the Company") changed its name to SnackHealthy, Inc. and dissolved its sole wholly-owned subsidiary SnackHealthy, Inc., a Nevada corporation.As of June 26, 2015, majority of the shareholders of the Company representing not less than 9,327,859 shares of common stock (82.83%) consented in writing to change the Company's name to Amaize Beverage Corporation. Such approval and consent constitute the approval and consent of a majority of the total number of shares of outstanding common stock and are sufficient under the Nevada General Corporation Law and the Company's Bylaws to approve the above action. On August 13, 2015, Amaize Beverage Corporation, previously known as SnackHealthy, Inc., a Nevada corporation filed an amendment to its articles of incorporation (the "Amendment") with the Secretary of State of the state of Nevada. The Amendment provided for the change of the Company's name from SnackHealthy, Inc., Inc. to Amaize Beverage Corporation. The name change and the change of the Company's trading symbol were subsequently declared effective by Financial Industry Regulatory Authority as of August 19, 2015. Amaize Beverage Corporation's goal is to successfully position a "better for you" portfolio of beverages as convenient, healthy solutions designed to support the lifestyles of today's active and health conscious consumers. The Company plans to focus on the development of an all-natural, healthy beverage product line containing a unique strain of purple corn which is high in antioxidant value and known for its perceived health benefits. The Company plans to distribute and sell the beverages through large retailers and club stores in the United States. We determined during the first quarter that we would transition out of our lower margin, perishable snack food product lines to focus our resources solely on developing our new healthy beverage business.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
2. Significant Accounting Policies	Basis of Presentation The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. The Company's year-end is June 30. The Company prepared these financial statements according to the instructions for Form 10-Q. Therefore, the financial statements do not include all disclosures required by generally accepted accounting principles in the United States. However, the Company has recorded all transactions and adjustments necessary to fairly present the financial statements included in this Form 10-Q. The adjustments made are normal and recurring. The following notes describe only the material changes in accounting policies, account details or financial statement notes during the three month period ended September 30, 2015. Therefore, please read these financial statements and notes to the financial statements together with the audited financial statements and notes thereto in our Annual Report on Form 10-K for the year ended June 30, 2015. The income statement for the three months ended September 30, 2015 cannot necessarily be used to project results for the full year. 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, the disclosure of contingent assets and liabilities on the date of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates. Basic and Diluted Net Loss per Common Share Net loss per common share is computed pursuant to FASB Accounting Standards Codification No. 260, Earnings per Share At September 30, 2015 the Company had 4,716,000 common shares remaining to be issued in satisfaction of the settlement agreement. These shares have not been included in the number of diluted shares because their effect would be anti-dilutive as the Company realized losses in all periods presented in these financial statements. Reclassifications Certain amounts previously presented for prior period have been reclassified. The reclassifications had no effect on net loss, total assets, or stockholders' deficit. Recent Accounting Pronouncements The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.

Going Concern

Going Concern	3 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
3. Going Concern	The financial statements have been prepared assuming that the Company will continue as a going concern which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company incurred a net loss of $505,620 for the three months ended September 30, 2015 and accumulated losses of $51,957,529 since inception to September 30, 2015. Cash used in operations for the three months ended September 30, 2015 was $9,014 and as of September 30, 2015, we had a working capital deficit of $710,671. This raises substantial doubt about its ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company's ability to raise additional capital and implement its business plan. Management believes that the actions presently being taken and the success of future operations will be sufficient to enable the Company to continue as a going concern, however, there can be no assurance that the raising of equity will be successful or that the Company will be able to achieve profitability. Failure to achieve the needed equity funding or establish profitable operations would have a material adverse effect on the Company's ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
4. Commitments and Contingencies	On July 16, 2015 the Company's Board of Directors approved the major terms of the compensation of Ms. West, our Founder, Chairman of the Board of Directors, former Chief Executive Officer and now Executive Vice President, which includes an annual salary equal to 400,000 shares of the Company's stock paid on a monthly basis, a stock grant of 500,000 shares of the Company's common stock, which vest over a period of five years and a one-time bonus of 150,000 shares of the Company's stock. On July 20, 2015, the Company authorized the issuance of 100,000 shares to Northeast Capital Group, a company owned and controlled by Ms. West as part of the compensation plan. The Company has not yet finalized the employment agreements with the Company's Chief Executive Officer, Richard Damion and A. R. Grandsaert, the Company's President. Lease Commitments The Company gave up its leased office space in Jupiter, Florida in January 2014, and acquired a new office in Newport Beach, California. The Florida leaseholder obtained a judgment in the amount of $181,968 for the remainder of the monthly lease payments through June 2016 pursuant to the terms of the lease agreement plus legal fees of $1,487. The Company has recorded the full amount of the judgment, however it believes that when the facility is re-leased it may not have to pay the full amount. Upon the leaseholder's execution of a new lease with a new tenant, the Company plans to file for the release of the amount of the judgment over and above the actual loss incurred by the leaseholder. There is no guarantee the property will be re-leased or that such a filing will be successful and that the Company will be able to mitigate its loss in this way. In January 2014, the Company entered into a lease at the rate of $1,439 per month which ended December 2014. In January 2015, the Company was equipped to operate in a virtual environment. We believe that our existing arrangement which provides for virtual pbx telephone, à la carte conference space, address services, mail forwarding and hosting facilities to be highly cost effective and adequate to meet our current needs. The Company plans to seek suitable additional space when needed. The Company has not invested in any real property at this time, nor does the Company intend to do so. The Company has no formal policy with respect to investments in real estate or investments with persons primarily engaged in real estate activities. Legal In June of 2013, a former officer of the Company filed a lawsuit against the Company and its President and directors alleging several counts, including a breach of contract and fiduciary duty, and seeking damages in the amount of $122,300 and other unspecified damages. On March 20, 2015 the court entered a final judgment in the amount of $200,761 comprised of the principal amount of $122,344 plus prejudgment interest from September 15, 2012 through the date of judgment in the amount of $54,421, costs in the amount of $773, and attorney's fees of $23,222. The court dismissed the case against any party not listed in the final order and the case is now closed as to all parties. As of March 31, 2015 the Company had accrued in full for this liability of $200,761 in its financial statements and signed a settlement agreement. At September 30, 2015, the Company had a balance of 4,716,000 common shares remaining to be issued in satisfaction of the settlement agreement with the former officer. Under the agreement, the shares can be drawn upon at any time, provided that the number of shares of common stock of the Company beneficially owned by the purchaser of the Siesta Flow LLC's claim does not exceed 9.99%. The number of shares required to settle this liability is unchanged by the Company's recent reverse spilt in the number of its issued and outstanding shares of common stock.

Stockholders' Deficit

Stockholders' Deficit	3 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
5. Stockholders’ Deficit	The Company has authorized 200,000,000 shares of common stock with a par value of $0.001 and 25,000,000 shares of preferred stock with a par value of $0.001. During the year ended June 30, 2015, the Company issued 115,000 shares of common stock for services valued at $199,250 and 2,500,000 shares of common stock for services to a related party valued at $1,250,000. Shareholder loans from a related party in the amount of $127,146 were settled by the issuance of 3,178,650 shares of common stock resulting in a non-cash loss on settlement of liabilities of $1,462,179. During the three months ended September 30, 2015 the Company issued 512,500 shares of common stock valued at $360,500 for services to related parties, 112,500 shares of common for services valued at $112,500 and 25,000 share of common stock in payment of an account payable to a related party valued at $25,000 resulting in a non-cash loss on settlement of liabilities of $16,145. At September 30, 2015, the Company had a balance of 4,716,000 common shares remaining to be issued in satisfaction of the settlement agreement. Under the agreement, the shares can be drawn upon at any time, provided that the number of shares of common stock of the Company beneficially owned by the purchaser of the Siesta Flow LLC's claim does not exceed 9.99%. The number of shares required to settle this liability is unchanged by the Company's recent reverse spilt in the number of its issued and outstanding shares of common stock. Non-Employee Stock Options and Warrants The Company accounts for non-employee stock options and warrants under ASC 718, whereby option and warrant costs are recorded based on the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. Unless otherwise provided for, the Company covers option and warrant exercises by issuing new shares. There are no warrants or stock options issued or outstanding.

Loans from Directors and Shareh

Loans from Directors and Shareholders	3 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
6. Loans from Directors and Shareholders	During the three months ended September 30, 2015 a shareholder advanced the Company $9,014. During the year ended June 30, 2015, the Company issued 3,178,650 shares of common stock valued at $1,589,325 in settlement of shareholder loans of $127,146 resulting in a non-cash loss of $1,462,179 on settlement of liabilities with equity. As of September 30, 2015 the balance of the loan outstanding was $32,041. The loan is non-interest bearing and due on demand. Share valuations are determined by the closing quoted share price of the stock on the date the issuance is authorized by the Board of Directors.

Income Taxes

Income Taxes	3 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
7.Income Taxes	The components of the deferred tax asset are as follows: September 30, 2015 June 30, 2015 Deferred tax assets Net operating loss carry-forward $ 9,941,200 $ 9,860,000 Valuation allowance (9,941,200 ) (9,860,000 ) Net deferred tax assets $ - $ - The Company had available approximately $49,706,000 at September 30, 2015 and $49,300,000 at June 30, 2015 of unused federal and Florida net operating loss carry-forwards that may be applied against future taxable income. These net operating loss carry-forwards expire through 2033. There is no assurance that the Company will realize the benefit of the net operating loss carry-forwards. ASC No. 740 requires a valuation allowance to be recorded when it is more likely than not that some or all of the deferred tax assets will not be realized. Reconciliation of the differences between the statutory tax rate and the effective income tax rate is as follows at September 30, 2015 and June 30, 2015 respectively: Statutory rate 15 % State taxes, net of federal tax benefit 5 % Effective tax rate 20 %

Subsequent Events

Subsequent Events	3 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
8. Subsequent Events	The Company has evaluated subsequent events from September 30, 2015 through the date the financial statements were available to be issued and has determined that, other than as disclosed above, there have been no subsequent events after September 30, 2015 for which disclosure is required.

Significant Accounting Polici15

Significant Accounting Policies (Policies)	3 Months Ended
	Sep. 30, 2015
Significant Accounting Policies Policies
Basis of Presentation	The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. The Company's year-end is June 30. The Company prepared these financial statements according to the instructions for Form 10-Q. Therefore, the financial statements do not include all disclosures required by generally accepted accounting principles in the United States. However, the Company has recorded all transactions and adjustments necessary to fairly present the financial statements included in this Form 10-Q. The adjustments made are normal and recurring. The following notes describe only the material changes in accounting policies, account details or financial statement notes during the three month period ended September 30, 2015. Therefore, please read these financial statements and notes to the financial statements together with the audited financial statements and notes thereto in our Annual Report on Form 10-K for the year ended June 30, 2015. The income statement for the three months ended September 30, 2015 cannot necessarily be used to project results for the full year.
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, the disclosure of contingent assets and liabilities on the date of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates.
Basic and Diluted Net Loss per Common Share	Net loss per common share is computed pursuant to FASB Accounting Standards Codification No. 260, Earnings per Share At September 30, 2015 the Company had 4,716,000 common shares remaining to be issued in satisfaction of the settlement agreement. These shares have not been included in the number of diluted shares because their effect would be anti-dilutive as the Company realized losses in all periods presented in these financial statements.
Reclassifications	Certain amounts previously presented for prior period have been reclassified. The reclassifications had no effect on net loss, total assets, or stockholders' deficit.
Recent Accounting Pronouncements	The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Sep. 30, 2015
Income Taxes Tables
Components of the deferred tax assets	The components of the deferred tax asset are as follows: September 30, 2015 June 30, 2015 Deferred tax assets Net operating loss carry-forward $ 9,941,200 $ 9,860,000 Valuation allowance (9,941,200 ) (9,860,000 ) Net deferred tax assets $ - $ -
Effective income tax rate	Reconciliation of the differences between the statutory tax rate and the effective income tax rate is as follows at September 30, 2015 and June 30, 2015 respectively: Statutory rate 15 % State taxes, net of federal tax benefit 5 % Effective tax rate 20 %

Significant Accounting Polici17

Significant Accounting Policies (Details Narrative)	Sep. 30, 2015shares
Significant Accounting Policies Details Narrative
Remaining common shares to be issued	4,716,000

Going Concern (Details Narrativ

Going Concern (Details Narrative) - USD ($)	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2015
Going Concern Details Narrative
Net loss	$ (505,620)	$ (58,560)
Accumulated loss	(51,957,529)		$ (51,451,909)
Net cash used in operations	(9,014)	$ (34,154)
Working capital deficit	$ 710,671

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative)	Sep. 30, 2015shares
Commitments And Contingencies Details Narrative
Remaining common shares to be issued	4,716,000

Stockholders' Deficit (Details

Stockholders' Deficit (Details Narrative)	3 Months Ended
	Sep. 30, 2015USD ($)shares
Stockholders Deficit Details Narrative
Remaining common shares to be issued | shares	4,716,000
Common stock issued for services, shares | shares	512,500
Common stock issued for services, value	$ 360,500
Common stock issued for services - related party, Shares | shares	112,500
Common stock issued for services - related party, Amount	$ 112,500
Common stock related party, Shares | shares	25,000
Common stock related party, Amount	$ 25,000
Non-cash loss on settlement of liabilities	$ 16,145

Loans from Directors and Shar21

Loans from Directors and Shareholders (Details Narrative) - USD ($)	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2015
Loans From Directors And Shareholders Details Narrative
Shareholder loans advanced	$ 9,014	$ 34,154
Shareholder loans	32,041		$ 23,027
Share issued, Shares	3,178,650
Share issued, Amount	1,589,325
Settlement of shareholder loans	127,146
Shareholder loans resulting in a non-cash loss	$ 1,462,179

Income Taxes (Details)

Income Taxes (Details) - USD ($)	Sep. 30, 2015	Jun. 30, 2015
Deferred tax assets
Deferred tax assets	$ 9,941,200	$ 9,860,000
Valuation allowance	$ (9,941,200)	$ (9,860,000)
Net deferred tax assets

Income Taxes (Deatils 1)

Income Taxes (Deatils 1)	3 Months Ended
	Sep. 30, 2015
Income Taxes Deatils 1
Statutory rate	15.00%
State taxes, net of Federal tax benefit	5.00%
Effective tax rate	20.00%

Income Taxes (Details Narrative

Income Taxes (Details Narrative) - USD ($)	3 Months Ended
	Sep. 30, 2015	Jun. 30, 2015
Income Taxes Details Narrative
Net operating loss carry-forwards	$ 49,706,000	$ 49,300,000
Expiry Date of operating loss carry-forwards	2,033