Logiq (LGIQ) 10-Q/A 22 May 15 2015 Q1 Quarterly report (amended) Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	18-May-15
Share subscriptions received
Entity Registrant Name	Seratosa Inc.
Entity Central Index Key	1335112
Document Type	10-Q
Document Period End Date	31-Mar-15
Amendment Flag	TRUE
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		306,323,723
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2015
Amendment Description	Amendment #1

CONDENSED_BALANCE_SHEETS

CONDENSED BALANCE SHEETS (USD $)	Mar. 31, 2015	Dec. 31, 2014
Current assets
Account Receivables	$682,700	$202,700
Temporary Payment	8,000	0
Total current assets	690,700	202,700
Total assets	690,700	202,700
CURRENT LIABILITIES
Other Payables	303,491	303,491
Accounts payable and other accruals	610,351	112,977
Total current liabilities	913,842	416,468
Total liabilities	913,842	416,468
STOCKHOLDERS' EQUITY
Common stock Authorized 10,000,000,000 shares at par value of $ 0.00001 each Issued and outstanding, 306,323,723 as of March 31,2015 and 46,256,568 shares as of December 31, 2014	139,177	139,177
Additional paid-in capital	36,080,882	36,080,881
Subscriptions received	1,765,855	1,765,855
Accumulated deficit	-38,209,056	-38,199,681
Total stockholders' equity	-223,142	-213,768
Total liabilities and stockholders' equity	$690,700	$202,700

CONDENSED_BALANCE_SHEETS_Paren

CONDENSED BALANCE SHEETS (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Common Stock
Common Stock Shares Authorized	10,000,000,000	10,000,000,000
Common Stock Shares Par Value	$0.00	$0.00
Common Stock Shares Issued	306,323,723	46,256,568
Common Stock Shares Outstanding	306,323,723	46,256,568

CONDENSED_STATEMENTS_OF_OPERAT

CONDENSED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Income Statement [Abstract]
Service Revenue	$480,000	$789,020
Cost of Service	475,000	542,895
Gross Profit (Loss)	5,000	246,125
Operating Expenses
General and Administrative	14,375	278,409
Depreciation	0	0
Total Operating Expenses	14,375	278,409
Loss from Operations	-9,375	-32,284
Provision for income taxes	0	0
Net Loss	($9,375)	($32,284)
Net Loss per common share - basic and fully diluted: Net loss for the year	($0.00)	$0
Weighted average number of basic and fully diluted common shares outstanding	47,995,699	448,970

CONDENSED_STATEMENTS_OF_CASH_F

CONDENSED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operations:
Loss from continuing operations	($9,375)	($32,284)
Adjustment to reconcile gain/net loss to net cash used in operating activities:
Depreciation expense	0	0
Changes in operating assets and liabilities:
Accounts payable and other accruals	9,375	-11,000
Net cash used in operations	0	-43,284
Investment activities:
Net cash provided by / (used in) investment activities	0	0
Financing activities:
Share subscriptions received	0	0
Issuance of convertible debentures	0	0
Net cash provided by financing activities	0	0
Net (decreased) / increased in cash	0	-43,284
Balances per prior period balance sheet	0	296,916
Ending balances	0	253,632
Non-cash transactions
Conversion of convertible debenture to equity	$0	$2,500

NOTE_1_BASIS_OF_PRESENTATION_G

NOTE 1 - BASIS OF PRESENTATION - GOING CONCERN	3 Months Ended
	Mar. 31, 2015
Note 1 - Basis Of Presentation - Going Concern
NOTE 1 - BASIS OF PRESENTATION - GOING CONCERN	1. BASIS OF PRESENTATION – GOING CONCERN
	The Company specializes in providing e-commerce solutions and services that facilitate multi-channel B2C (business-to-consumer) and B2B (business-to-business) transactions. Its solutions and services enable e-commerce transactions with speed and efficiency, and allow an interactive and engaging customer experience as well as targeted marketing and advertising.
	The Company’s revenues are generated from one-time integration fees for the implementation of e-commerce solutions as well as recurring license and service fees. The Company currently hosts two e-commerce solutions.
	These financial statements of Seratosa Inc. (the “Company”) have been prepared on a going-concern basis which assumes that the Company will be able to realize assets and discharge liabilities in the normal course of business for the foreseeable future.
	The Company experienced losses during fiscal year ended December 31, 2014 amounting to $255,693, which raises substantial doubt about the Company's ability to continue as a going concern. The ability of the Company to meet its commitments as they become payable is dependent on the ability of the Company to obtain necessary financing or achieving a profitable level of operations. There are no assurances that the Company will be successful in achieving these goals.
	The Company believes that it can continue to receive revenues from its customers. The Company expects to continue utilizing its cost structure by sourcing personnel in Asia for servicing its customers. In order to accelerate the growth of the Company, it will also consider raising additional funding from investors.
	These financial statements do not give effect to adjustments to the amounts and classifications to assets and liabilities that would be necessary should the Company be unable to continue as a going concern.
	We have prepared the unaudited condensed financial statements included herein pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim periods. The unaudited condensed financial statements included herein reflect all normal recurring adjustments, which are, in the opinion of our management, necessary to state fairly the results of operations and financial position for the periods presented. The results for the three month period ended March 31, 2015 are not necessarily indicative of the results to be expected for the entire fiscal year ending December 31, 2015 or for any interim or future period.
	These unaudited condensed financial statements should be read in conjunction with Management’s Discussion and Analysis of Financial Condition and Results of Operations and the audited financial statements and notes thereto included in our Annual Report on Form 10-KA for the fiscal year ended December 31, 2014.

NOTE_2_SUMMARY_OF_SIGNIFICANT_

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	USE OF ESTIMATES
	The preparation of the Company’s financial statements in conformity with generally accepted accounting principles of 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 revenues and expenses during the reporting period. Management makes its best estimate of the ultimate outcome for these items based on historical trends and other information available when the financial statements are prepared. Actual results could differ from those estimates.
	CERTAIN RISKS AND UNCERTAINTIES
	The Company relies on leased hardware and software from third parties to offer its e-commerce solutions and services. Management believes that alternate sources are available; however, disruption or termination of these relationships could adversely affect our operating results in the near-term. The Company currently has two customers who provide all of the Company’s recurring revenue. Loss of any one of these customers would have a significant impact on the Company’s revenue.
	CASH AND CASH EQUIVALENTS
	Cash equivalents comprise certain highly liquid instruments with a maturity of three months or less when purchased.
	EQUIPMENT
	Equipment is carried at cost less a provision for depreciation on a straight-line basis over their estimated useful lives. Estimated useful life of the computer equipment is 3 years.
	RECLASSIFICATION
	Certain prior year amounts have been reclassified to conform with current year presentation.
	STOCK-BASED COMPENSATION
	The Company accounts for stock based compensation by recognizing the fair value of stock compensation as an expense in the calculation of net income (loss). The Company recognizes stock compensation expense in the period in which the employee is required to provide service, which is generally over the vesting period of the individual equity instruments. Stock options issued in lieu of cash to non-employees for services performed are recorded at the fair value of the options at the time they are issued and are expensed as service is provided.
	LOSS PER SHARE
	Basic earnings (loss) per share of common stock is computed by dividing the net earnings (loss) by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share of common stock is computed by dividing the net earnings (loss) by the weighted average number of common shares outstanding during the period, including vested and unvested stock options that are in the money.
	FAIR VALUE OF FINANCIAL INSTRUMENTS
	The Company’s financial instruments consist of cash, accounts payable, interest payable, shareholder loans and other current liabilities. The carrying values of financial instruments reflected in these financial statements approximate their fair values due to the short-term maturity of the instruments.
	REVENUE RECOGNITION
	The Company recognizes revenue from providing hosting and integration services and licensing the use of its technology platform to its customers. The Company recognizes revenue when all of the following conditions are satisfied: (1) there is persuasive evidence of an arrangement; (2) the service has been provided to the customer (for licensing, revenue is recognized when the Company’s technology is used to provide hosting and integration services); (3) the amount of fees to be paid by the customer is fixed or determinable; and (4) the collection of fees is probable. We account for our multi-element arrangements, such as instances where we design a custom website and separately offer other services such as hosting, which are recognized over the period for when services are performed.
	COST OF SERVICE
	Cost of service results from sourcing technical and engineering personnel in Asia on an hourly or project basis in order to develop e-commerce solutions and provide ongoing hosting services to individual customers. The Company utilizes an outsourced staffing firm with offices in China.
	CAPITALIZATION OF SOFTWARE
	The Company accounts for internal-use software and website development costs, including the development of its partner marketplaces in accordance with ASC 350-50 ( Intangibles – Website cost ). The Company capitalizes internal costs consisting of payroll and direct payroll-related costs of employees who devote time to the development of internal-use software, as well as any external direct costs. It amortizes these costs over their estimated useful lives, which typically range between three to five years. The Company’s judgment is required in determining the point at which various projects enter the stages at which costs may be capitalized, in assessing the ongoing value of the capitalized costs, and in determining the estimated useful lives over which the costs are amortized. The estimated life is based on management’s judgment as to the product life cycle. Development cost of various platforms is being expensed. The Company cannot separate internal cost on a reasonably cost-effective basis between maintenance and upgrades, and cannot assess the ongoing value of its various projects, thus all project costs are expensed as such costs are incurred.
	INCOME TAXES
	Income taxes are provided for using the asset and liability method whereby deferred tax assets and liabilities are recognized using current tax rates on the difference between the financial statement carrying amounts and the respective tax basis of the assets and liabilities. The Company provides a valuation allowance on deferred tax assets when it is more likely than not that such assets will not be realized.
	The Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting this standard, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. The Company recognized interest and penalties related to unrecognized tax benefits within the income tax expense line in the accompanying statements of operation. Accrued interest and penalties are included within the related tax liability in the balance sheets.
	NEW ACCOUNTING PRONOUNCEMENTS
	There were various other accounting standards and interpretations recently issued, none of which is expected to have a material impact on the Company's financial position, operations or cash flows.

NOTE_3_STOCKHOLDERS_DEFICIT

NOTE 3 - STOCKHOLDERS' DEFICIT	3 Months Ended
	Mar. 31, 2015
Equity [Abstract]
NOTE 3 - STOCKHOLDERS' DEFICIT	3. STOCKHOLDERS’ DEFICIT
	Common Shares
	Authorized common shares of the Company consist of 10,000,000,000 shares with a par value of $0.00001 each.
	Debt-to-Equity Conversions
	As the terms of conversion to equity of the convertible debentures outstanding at December 31, 2014 of $22,080 have lapsed, these have been reclassified as Other payables.
	Employee Stock Option Plan
	The Company has a stock option and incentive plan, the “Stock Option Plan”. The exercise price for all equity awards issued under the Stock Option Plan is based on the fair market value of the common share price which is the closing price quoted on the Pink Sheets on the last trading day before the date of grant. The stock options generally vest on a monthly basis over a two-year to three-year period, and have a five year life.
	The Stock Option Plan allows for the issuance of stock options, stock awards, or other incentives. An aggregate of 25,000,000 shares are authorized under the Stock Option Plan. As of March 31, 2015, there are 24,590,000 shares reserved for future grants under the Stock Option Plan.
	Stock-Based Compensation
	All options outstanding are fully vested as of December 31, 2014 and have all expired at March 31, 2015. No new options were granted in during the three months ended March 31, 2015.

NOTE_4_RELATED_PARTY_TRANSACTI

NOTE 4 - RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
NOTE 4 - RELATED PARTY TRANSACTIONS	4. RELATED PARTY TRANSACTIONS
	Accounts payable and other accruals include $5,000 of accrued salaries due to the Company’s Chief Executive Officer as of March 31, 2015 compared to $22,000 due to the former Chief Executive Officer as of December 31, 2014.

NOTE_5_SUBSEQUENT_EVENTS

NOTE 5 - SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2015
Subsequent Events [Abstract]
NOTE 5 - SUBSEQUENT EVENTS	5. SUBSEQUENT EVENTS
	In accordance with ASC Topic 855, “Subsequent Events”, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued, we have evaluated significant events and transactions that occurred after March 31, 2015 through the date of the condensed consolidated financial statements were issued and filed with this Form 10-Q. During the period, the Company did not have any material recognizable subsequent events.

NOTE_2_SUMMARY_OF_SIGNIFICANT_1

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
USE OF ESTIMATES	USE OF ESTIMATES
	The preparation of the Company’s financial statements in conformity with generally accepted accounting principles of 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 revenues and expenses during the reporting period. Management makes its best estimate of the ultimate outcome for these items based on historical trends and other information available when the financial statements are prepared. Actual results could differ from those estimates.
CERTAIN RISKS AND UNCERTAINTIES	CERTAIN RISKS AND UNCERTAINTIES
	The Company relies on leased hardware and software from third parties to offer its e-commerce solutions and services. Management believes that alternate sources are available; however, disruption or termination of these relationships could adversely affect our operating results in the near-term. The Company currently has two customers who provide all of the Company’s recurring revenue. Loss of any one of these customers would have a significant impact on the Company’s revenue.
CASH AND CASH EQUIVALENTS	CASH AND CASH EQUIVALENTS
	Cash equivalents comprise certain highly liquid instruments with a maturity of three months or less when purchased.
EQUIPMENT	EQUIPMENT
	Equipment is carried at cost less a provision for depreciation on a straight-line basis over their estimated useful lives. Estimated useful life of the computer equipment is 3 years.
RECLASSIFCATION	RECLASSIFICATION
	Certain prior year amounts have been reclassified to conform with current year presentation.
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION
	The Company accounts for stock based compensation by recognizing the fair value of stock compensation as an expense in the calculation of net income (loss). The Company recognizes stock compensation expense in the period in which the employee is required to provide service, which is generally over the vesting period of the individual equity instruments. Stock options issued in lieu of cash to non-employees for services performed are recorded at the fair value of the options at the time they are issued and are expensed as service is provided.
LOSS PER SHARE	LOSS PER SHARE
	Basic earnings (loss) per share of common stock is computed by dividing the net earnings (loss) by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share of common stock is computed by dividing the net earnings (loss) by the weighted average number of common shares outstanding during the period, including vested and unvested stock options that are in the money.
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS
	The Company’s financial instruments consist of cash, accounts payable, interest payable, shareholder loans and other current liabilities. The carrying values of financial instruments reflected in these financial statements approximate their fair values due to the short-term maturity of the instruments.
REVENUE RECOGNITION	REVENUE RECOGNITION
	The Company recognizes revenue from providing hosting and integration services and licensing the use of its technology platform to its customers. The Company recognizes revenue when all of the following conditions are satisfied: (1) there is persuasive evidence of an arrangement; (2) the service has been provided to the customer (for licensing, revenue is recognized when the Company’s technology is used to provide hosting and integration services); (3) the amount of fees to be paid by the customer is fixed or determinable; and (4) the collection of fees is probable. We account for our multi-element arrangements, such as instances where we design a custom website and separately offer other services such as hosting, which are recognized over the period for when services are performed.
COST OF SERVICE	COST OF SERVICE
	Cost of service results from sourcing technical and engineering personnel in Asia on an hourly or project basis in order to develop e-commerce solutions and provide ongoing hosting services to individual customers. The Company utilizes an outsourced staffing firm with offices in China.
CAPITALIZATION OF SOFTWARE	CAPITALIZATION OF SOFTWARE
	The Company accounts for internal-use software and website development costs, including the development of its partner marketplaces in accordance with ASC 350-50 ( Intangibles – Website cost ). The Company capitalizes internal costs consisting of payroll and direct payroll-related costs of employees who devote time to the development of internal-use software, as well as any external direct costs. It amortizes these costs over their estimated useful lives, which typically range between three to five years. The Company’s judgment is required in determining the point at which various projects enter the stages at which costs may be capitalized, in assessing the ongoing value of the capitalized costs, and in determining the estimated useful lives over which the costs are amortized. The estimated life is based on management’s judgment as to the product life cycle. Development cost of various platforms is being expensed. The Company cannot separate internal cost on a reasonably cost-effective basis between maintenance and upgrades, and cannot assess the ongoing value of its various projects, thus all project costs are expensed as such costs are incurred.
INCOME TAXES	INCOME TAXES
	Income taxes are provided for using the asset and liability method whereby deferred tax assets and liabilities are recognized using current tax rates on the difference between the financial statement carrying amounts and the respective tax basis of the assets and liabilities. The Company provides a valuation allowance on deferred tax assets when it is more likely than not that such assets will not be realized.
	The Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting this standard, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. The Company recognized interest and penalties related to unrecognized tax benefits within the income tax expense line in the accompanying statements of operation. Accrued interest and penalties are included within the related tax liability in the balance sheets.
NEW ACCOUNTING PRONOUNCEMENTS	NEW ACCOUNTING PRONOUNCEMENTS
	There were various other accounting standards and interpretations recently issued, none of which is expected to have a material impact on the Company's financial position, operations or cash flows.

NOTE_1_BASIS_OF_PRESENTATION_G1

NOTE 1 - BASIS OF PRESENTATION - GOING CONCERN (Details Narrative) (USD $)	3 Months Ended		12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Note 1 - Basis Of Presentation - Going Concern Details Narrative
Net Loss	($9,375)	($32,284)	$255,693

NOTE_2_SUMMARY_OF_SIGNIFICANT_2

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	12 Months Ended
	Dec. 31, 2014	Mar. 31, 2015
Note 2 - Summary Of Significant Accounting Policies Details Narrative
Estimated useful life of equipment, min	3 years
Estimated useful life of equipment, max	3 years
Common shares outstanding	46,256,568	306,323,723

NOTE_3_STOCKHOLDERS_DEFICIT_De

NOTE 3 - STOCKHOLDERS' DEFICIT (Details Narrative) (USD $)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Note 3 - Stockholders Deficit Details Narrative
Common Stock Shares Authorized	10,000,000,000	10,000,000,000
Common Stock Shares Par Value	$0.00	$0.00
Shares authorized under the Stock Option Plan	25,000,000
Shares reserved for future grants under the Stock Option Plan	24,590,000
New options granted	0
Convertible debentures reclassified as other payables		$22,080

NOTE_4_RELATED_PARTY_TRANSACTI1

NOTE 4 - RELATED PARTY TRANSACTIONS (Details Narrative) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Related Party Transactions [Abstract]
Accrued salaries	$5,000	$22,000