Creative Waste Solutions (CWSS) 10-Q 11 Feb 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Dec. 31, 2014	Feb. 11, 2015
Document And Entity Information
Entity Registrant Name	Silverstar Resources, Inc.
Entity Central Index Key	1385329
Document Type	10-Q
Document Period End Date	31-Dec-14
Amendment Flag	FALSE
Current Fiscal Year End Date	-21
Entity a Well-known Seasoned Issuer	No
Entity a Voluntary Filer	No
Entity's Reporting Status Current	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		3,436,840
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2015

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Dec. 31, 2014	Sep. 30, 2014
Current Assets:
Cash and cash equivalents	$130	$24
Total current assets	130	24
Total Assets	130	24
Current Liabilities:
Accounts payable and accrued expenses	111,065	118,768
Convertible debentures	104,666	104,666
Advances - related parties	152,458	130,508
Note payable	82,489	81,989
Total current liabilities	450,678	435,931
Total liabilities	450,678	435,931
Stockholders' Equity (Deficit)
Common stock; $0.001 par value, 225,000,000 shares authorized, 2,594,840 and 2,591,840 shares issued and outstanding, respectively	2,595	2,592
Additional paid-in capital	1,798,305	1,795,158
Accumulated deficit	-2,251,448	-2,233,657
Total stockholders' deficit	-450,548	-435,907
Total Liabilities and Stockholders' (Deficit)	$130	$24

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2014	Sep. 30, 2014
Stockholders' Equity (Deficit)
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	225,000,000	225,000,000
Common stock, shares issued	2,594,840	2,591,840
Common stock, shares outstanding	2,594,840	2,591,840

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Operating Expenses:
General and administrative	$20,815	$111,687
Loss from operations	-20,815	-111,687
Other Income/(Expense)
Gain on debt forgiveness	9,015
Interest expense	-5,992	-7,198
Total other income (expenses)	3,023	-7,198
Net loss	($17,792)	($118,885)
Net income(loss) per common share attributable to common stockholders (basic and diluted)	($0.01)	($2.05)
Weighted average common shares outstanding (basic and diluted):	2,593,225	57,986

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities
Net loss	($17,792)	($118,885)
Adjustments to reconcile net loss to net cash provided by operating activities:
(Gain) loss on debt forgiveness	-9,015
Changes in operating assets and liabilities
Accounts payable and accrued expense	4,463	73,693
Accrued interest		6,701
Prepaid expense		249
Shares to be issued		87,855
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	-22,344	49,613
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from advances- related parity	22,450
Payments on convertible debentures		-55,359
NET CASH PROVIDED BY FINANCING ACTIVITIES	22,450	-55,359
Net increase (decrease) in cash	106	-5,746
Cash, beginning of period	24	5,869
Cash, end of period	130	123
SUPPLEMENTAL CASH FLOWS INFORMATION
Interest paid
Income taxes paid
NONCASH INVESTING AND FINANCING ACTIVITIES:
Common stock issued for accounts payable	$3,150

ORGANIZATION_AND_BASIS_OF_PRES

ORGANIZATION AND BASIS OF PRESENTATION	3 Months Ended
	Dec. 31, 2014
Organization And Basis Of Presentation
NOTE 1 - ORGANIZATION AND BASIS OF PRESENTATION	Silverstar Resources, Inc (formally Silverstar Mining Corp) (the “Company”) was incorporated under the laws of the State of Nevada on December 5, 2003. On March 4, 2008, the Company completed a merger with its wholly-owned subsidiary, Silverstar Resources Corp., which was incorporated by the Company solely to effect the name change of the Company to Silverstar Resources Corp. The Company was incorporated for the purpose to promote and carry on any lawful business for which a corporation may be incorporated under the laws of the State of Nevada. On January 23, 2015 The Company changed its name to Silverstar Resources, Inc and affected a reverse split of its shares of one share for every five shares held.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Dec. 31, 2014
Summary Of Significant Accounting Policies
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	The accompanying unaudited interim financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission (SEC), and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s September 30, 2014 Annual Report filed with the SEC on Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which would substantially duplicate the disclosure contained in the audited financial statements for the most recent fiscal year end September 30, as reported on Form 10-K, have been omitted.

GOING_CONCERN

GOING CONCERN	3 Months Ended
	Dec. 31, 2014
Going Concern
NOTE 3 - GOING CONCERN	As shown in the accompanying financial statements, Silverstar Resources has an accumulated deficit of $2,251,448 as of December 31, 2014 and incurred a net loss of $26,807 for the three months period ended December 31, 2014. Unless the Company is able to attain profitability and increases in stockholders’ equity continue, these conditions raise substantial doubt as to Silverstar Resources’ ability to continue as a going concern. The consolidated financial statements do not include any adjustments that might be necessary if Silverstar Resources is unable to continue as a going concern.
	Silverstar Resources continues to review its expense structure reviewing costs and their reduction to move towards profitability. The Company’s expenses are planned to decrease as a percent of revenue resulting in profitability and increased shareholders’ equity.

RELATED_PARTIES

RELATED PARTIES	3 Months Ended
	Dec. 31, 2014
Related Parties
NOTE 4 - RELATED PARTIES	During the month period ended December 31, 2013, an officer and director and a shareholder advanced the Company $22,450.The advances do not have any repayment terms and are not interest bearing.
	As of December 31, 2014 the total advance due the officer and shareholder was $152,458.

EQUITY

EQUITY	3 Months Ended
	Dec. 31, 2014
Equity
NOTE 5 - EQUITY	On November 18, 2014 the Company issued 3,000 shares with a value of $12,166 to one individual for accounts payable .The Company computed the fair value of the stock issued for the debt and recorded a gain on debt forgiveness of $9,015

SUBSEQUENT_EVENT

SUBSEQUENT EVENT	3 Months Ended
	Dec. 31, 2014
Subsequent Event
NOTE 6 b SUBSEQUENT EVENT	On January 15, 2015 the Company issued 40,000 shares of common stock to an officer with a value of $70,000 for service
	On January 15, 2015 the Company issued 2,000 shares to an individual with a value of $3,500 for service.
	On January 15, 2015 the Company issued 800,000 shares of common stock to two entities for the conversion of convertible debt with a value of $10,000.
	On January 23, 2015 the board of directors with the consent of a majority of its shareholders approved amended articles of incorporation to include a change of name to Silverstar Resources, Inc and a reverse split of its common stock resulting in shareholders receiving one share for every five shares (5 to 1) they hold as of record of that date. In addition the amendment set the authorized shares of common stock at 220,000,000 and preferred stock at 5,000,000 shares both at a par value of $0.001.

GOING_CONCERN_Details_Narrativ

GOING CONCERN (Details Narrative) (USD $)	3 Months Ended
	Dec. 31, 2014	Sep. 30, 2014
Going Concern Details Narrative
Accumulated deficit	($2,251,448)	($2,233,657)
Net loss for the period	$26,807

RELATED_PARTIES_Details_Narrat

RELATED PARTIES (Details Narrative) (USD $)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Sep. 30, 2014
Reimbursed from advances	$22,450
Advances	152,458		130,508
Officer and Director [Member]
Reimbursed from advances		22,450
Officer [Member]
Advances	$152,458