Blox (BLXX) 10-Q 13 Feb 14 2013 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Dec. 31, 2013	Feb. 06, 2014
Document And Entity Information	'	'
Entity Registrant Name	'Blox, Inc.	'
Entity Central Index Key	'0001428389	'
Document Type	'10-Q	'
Document Period End Date	31-Dec-13	'
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	'	12,338,604
Document Fiscal Period Focus	'Q2	'
Document Fiscal Year Focus	'2013	'

Balance_Sheets_Unaudited

Balance Sheets (Unaudited) (USD $)	Dec. 31, 2013	Jun. 30, 2013
Current	'	'
Cash and cash equivalents	$9,530	$19,544
Prepaid expense	4,655	995
[us-gaap:AssetsCurrent]	14,185	20,539
Equipment	512	650
TOTAL ASSETS	14,697	21,189
Current	'	'
Accounts payable and accrued liabilities	35,280	34,474
Due to related party	511	511
Loan payable	60,290	45,000
Total current liabilities	96,081	79,985
STOCKHOLDERS' DEFICIT	'	'
400,000,000 common shares authorized, $0.00001 par value 12,338,604 common shares issued and outstanding (June 30, 2013 - 12,338,604)	123	123
Additional paid-in capital	237,431	237,431
Deficit accumulated during the exploration stage	-318,938	-296,350
Total stockholders' equity	-81,384	-58,796
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$14,697	$21,189

Balance_Sheets_Parenthetical

Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2013	Jun. 30, 2013
Statement of Financial Position [Abstract]	'	'
Common Stock, Par Value Per Share	$0.00	$0.00
Common Stock, Shares Authorized	400,000,000	400,000,000
Common Stock, Shares Issued	12,338,604	12,338,604
Common Stock, Shares Outstanding	12,338,604	12,338,604

Statements_of_Operations_Unaud

Statements of Operations (Unaudited) (USD $)	3 Months Ended		6 Months Ended		101 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013
EXPENSES	'	'	'	'	'
Amortization	$65	$105	$138	$177	$1,731
Consulting	'	'	'	'	16,000
Consulting - stock based compensation	'	'	'	'	48,047
Exploration costs	4,278	'	4,278	'	23,752
Office and miscellaneous	10	200	2,510	508	14,732
Professional fees	7,888	5,540	15,663	16,408	223,192
Professional fees - stock-based compensation	'	'	'	'	638
Operating loss	-12,240	-5,845	-22,588	-17,093	-328,091
Other items	'	'	'	'	'
Cost recovery	'	'	'	'	1,000
Interest income	'	'	'	1	8,153
NET AND COMPREHENSIVE LOSS	($12,240)	($5,845)	($22,588)	($17,092)	'
BASIC AND DILUTED LOSS PER SHARE	$0	$0	$0	$0	'
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	12,338,604	12,338,604	12,338,604	12,338,604	'

Statements_of_Cash_Flows_Unaud

Statements of Cash Flows (Unaudited) (USD $)	6 Months Ended		101 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES	'	'	'
Net loss	($22,588)	($17,092)	'
Non-cash operating items:	'	'	'
Amortization	138	177	1,731
Consulting - stock based compensation	'	'	48,047
Professional fees - stock based compensation	'	'	638
Changes in non-cash working capital items:	'	'	'
Prepaid expense	-3,660	750	-4,655
Accounts payable and accrued liabilities	806	-1,019	34,870
Net cash provided by (used in) operating activities	-25,304	-17,184	-238,307
CASH FLOWS FROM INVESTING ACTIVITY	'	'	'
Acquisition of equipment	'	-925	-2,243
Net cash used in investing activity	'	-925	-2,243
CASH FLOWS FROM FINANCING ACTIVITIES	'	'	'
Issuance of capital stock	'	'	188,870
Loan payable	15,290	20,000	60,290
Due to related parties	'	-439	920
Net cash provided by financing activities	15,290	19,561	250,080
Change in cash	-10,014	1,452	9,530
Cash, beginning	19,544	23,075	'
Cash, ending	9,530	24,527	9,530
Interest	'	'	'
Income taxes	'	'	'

Nature_Of_Business_And_Continu

Nature Of Business And Continuance Of Operations	6 Months Ended
	Dec. 31, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Nature Of Business And Continuance Of Operations	'
	1. NATURE OF BUSINESS AND CONTINUANCE OF OPERATIONS
	Nava Resources Inc. (the "Company") was incorporated on July 21, 2005 under the laws of the state of Nevada. The Company’s wholly owned subsidiary, Nava Resources, Canada Inc. (“Nava Resources, Canada”), was incorporated in Canada on August 9, 2005. The Company is an exploration stage company. The Company’s principal business is the acquisition and exploration of mineral properties. The Company has not yet determined whether its property contains mineral reserves that are economically recoverable. In January 2013, the Company changed its name from Nava Resources, Inc. to Blox, Inc.
	On June 19, 2013, the Company signed an agreement with International Eco Endeavors Corp. (“Eco Endeavors”) to complete a business combination with Eco Endeavors and Ourco Capital Ltd. (“Ourco”), a wholly owned subsidiary of the Company formed for the purpose of this business combination. At amalgamation of Eco Endeavors and Ourco, all of Eco Endeavors common shares outstanding shall be cancelled, and the holders of Eco Endeavors’ common shares, other than the Company and Ourco, shall receive in exchange for their Eco Endeavors’ common shares cancelled, 60,000,000 units of the Company on a pro-rata basis with a deemed value of $0.05 per unit. Each unit will consist of one common share and one share purchase warrant which is exercisable into one common share at $0.05 for a term of five years from the closing of the agreement. Neither the Company nor Ourco shall receive any repayment of capital in respect of any Eco Endeavors’ common shares held by them that are cancelled. All of the common shares of Ourco outstanding immediately prior to the effective time shall be cancelled and replaced with an equal number of common shares of the amalgamated company (“Amalco”) formed between Eco Endeavors and Ourco, and will be a wholly owned subsidiary of the Company. As consideration for the issuance of the Company’s units, Amalco shall issue the Company one common share of Amalco for each unit issued. This agreement is subject to the Company’s completion of due diligence of Eco Endeavors which has not yet been completed. Eco Endeavors sources, develops, and operates renewable energy projects worldwide with a focus on Europe and North America.
	On June 22, 2013, the Company entered into a share purchase agreement with Waratah Investments Limited (“Waratah”) where the Company shall purchase all of Waratah’s right, title, and interest in the Quivira Gold Ltd (“Quivira”), of which Waratah holds 100% of the outstanding shares. As consideration for the Quivira shares, the Company will issue to Waratah 60,000,000 shares of common stock and 60,000,000 warrants. Each warrant entitles the holder to purchase one additional common share at $0.05 for a period of five years from the closing date. Quivira owns and operates gold and diamond mining properties in Ghana. The closing of the agreement is subject to the completion of due diligence and the completion of a private placement. The Agreements provide that closing is subject to completion of a private placement financing of up to US$2,500,000, consisting of units priced at $0.05 per unit, with each unit comprises a share in the common stock of the Company and a share purchase warrant, exercisable at $0.05 for five years. As of the issuance date of these financial statements, the due diligence and financing has not yet been completed.
	Unaudited Interim Consolidated Financial Statements
	The unaudited interim financial statements of the Company have been prepared in accordance with United States generally accepted accounting principles (“GAAP”) for interim financial information and the rules and regulations of the Securities and Exchange Commission (“SEC”). They do not include all information and footnotes required by GAAP for complete financial statements. Except as disclosed herein, there have been no material changes in the information disclosed in the notes to the financial statements for the year ended June 30, 2013, included in the Company’s Annual Report on Form 10-K, filed with the SEC. The interim unaudited financial statements should be read in conjunction with those financial statements included in Form 10-K. In the opinion of management, all adjustments considered necessary for fair presentation, consisting solely of normal recurring adjustments, have been made. Operating results for the three month period ended December 31, 2013 are not necessarily indicative of the results that may be expected for the year ending June 30, 2014.
	Going Concern
	These consolidated financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The Company has not generated revenues since inception and has not paid any dividends and is unlikely to pay dividends or generate earnings in the immediate or foreseeable future. The Company has cumulative losses since inception of $318,938. These factors raise substantial doubt about the ability of the Company to continue as going concern. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary equity financing to continue operations and to determine the existence, discovery and successful exploitation of economically recoverable reserves in its resource property.
	These consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Management of the Company has undertaken steps as part of a plan with the goal of sustaining Company operations for the next twelve months and beyond. These steps include: (a) continuing efforts to raise additional capital and/or other forms of financing; and (b) controlling overhead and expenses. There can be no assurance that any of these efforts will be successful.

Mineral_Property_Interest

Mineral Property Interest	6 Months Ended
	Dec. 31, 2013
Notes to Financial Statements	'
Mineral Property Interest	'
	2. MINERAL PROPERTY INTEREST
	On October 20, 2010, the Company staked a claim located in the Victoria mining division of the Province of British Columbia, Canada. During the period ended December 31, 2013, the Company incurred exploration costs amounting to $4,278 (December 31, 2012 - $Nil) on the property.

Related_Party_Transactions

Related Party Transactions	6 Months Ended
	Dec. 31, 2013
Related Party Transactions [Abstract]	'
Related Party Transactions	'
	3. RELATED PARTY TRANSACTIONS
	As at December 31, 2013, $511 (June 30, 2013 - $511) was due to a director of the Company and a company controlled by a director of the Company. These amounts are unsecured, do not bear interest and have no fixed terms of repayment.

Loan_Payable

Loan Payable	6 Months Ended
	Dec. 31, 2013
Debt Disclosure [Abstract]	'
Loan Payable	'
	4. LOAN PAYABLE
	As at December 31, 2013, $60,290 (June 30, 2013 - $45,000) is owing to a related company of Waratah (Note 1). The loan is unsecured, does not bear interest and has no fixed terms of repayment.

Stock_Options

Stock Options	6 Months Ended
	Dec. 31, 2013
Equity [Abstract]	'
Stock Options	'
	5. STOCK OPTIONS
	The Company has adopted a Stock Incentive Plan (the “Plan”). The Plan provides that the total number of shares of stock reserved and available for distribution under the plan shall be 10,000,000 shares of common stock of the Company. The stock options granted under the Plan shall have a maximum term of five years.
	During the year ended June 30, 2013, the Company granted 100,000 stock options, exercisable at $0.01 per share until January 16, 2018. The stock options vested immediately and were recorded at a fair value of $638. The fair value of the options granted was estimated at the grant date using the Black-Scholes Option Pricing Model with the following weighted average assumptions: expected annual volatility: 80.30%, risk-free interest rate: 0.75%, expected life: 5 years and expected dividend yield: 0%. The stock options carry a minimum exercise clause whereby the minimum options exercised must be the lesser of 25,000 shares or the remaining number of unexercised shares outstanding.

Nature_Of_Business_And_Continu1

Nature Of Business And Continuance Of Operations (Details Narrative) (USD $)	6 Months Ended	101 Months Ended
	Dec. 31, 2013	Dec. 31, 2013	Jun. 19, 2013	Jun. 22, 2013
			Amalco [Member]	Quivira [Member]
Date of Incorporation	21-Jul-05	'	'	'
Former Company Name	'Nava Resources, Inc.	'	'	'
Date Company Changed Name	31-Jan-13	'	'	'
Shares Issued, per terms of agreement	'	'	60,000,000	60,000,000
Share Price	'	'	$0.05	'
Warrants, per terms of agreement	'	'	'	60,000,000
Warrants, exercise price	'	'	'	$0.05
Warrant Period (Years)	'	'	'	'5 years
Private Placement, Share Value	$2,500,000	'	'	'
Private Placement, per Share	$0.05	'	'	'
Private Placement, Warrants Offered per Share	1	'	'	'
Private Placement, Warrrants Price per Share	$0.05	'	'	'
Private Placement, Warrant Term (Years)	'5 years	'	'	'
Cumulative Losses Since Inception	'	($318,938)	'	'

Mineral_Property_Interest_Deta

Mineral Property Interest (Details Narrative) (USD $)	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Notes to Financial Statements	'	'
Exploration Costs	$4,278	'

Related_Party_Transactions_Det

Related Party Transactions (Details Narrative) (USD $)	Dec. 31, 2013	Jun. 30, 2013
Related Party Transactions [Abstract]	'	'
Due to Related Party	$511	$511

Loan_Payable_Details_Narrative

Loan Payable (Details Narrative) (USD $)	Dec. 31, 2013	Jun. 30, 2013
Due to Related Party	$511	$511
Waratah [Member]	'	'
Due to Related Party	$60,290	$45,000

Stock_Options_Details_Narrativ

Stock Options (Details Narrative) (USD $)	12 Months Ended
	Jun. 30, 2013	Dec. 31, 2013
Equity [Abstract]	'	'
Shares Reserved and Available for Distribution, Stock Incentive Plan	'	10,000,000
Stock Incentive Plan, term	'	'5 years
Stock Options, shares granted	100,000	'
Exercisable Price	$0.01	'
Stock Options Term	16-Jan-18	'
Stock Options, fair value	$638	'
Fair Value Method Used	'Black-Scholes	'
Expected Annual Volatility	80.30%	'
Risk-Free Interest Rate	0.75%	'
Expected Life	'5 years	'
Expected Dividend Yield	0.00%	'
Minimum Exercise Clause	'the minimum options exercised must be the lesser of 25,000 shares or the remaining number of unexercised shares outstanding	'