Ultimate Products (ULPC) 10-Q 17 Feb 15 2015 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Dec. 31, 2014
Document and Entity Information:
Entity Registrant Name	Ultimate Products CORP
Entity Trading Symbol	ULPC
Document Type	10-Q
Document Period End Date	31-Dec-14
Amendment Flag	FALSE
Entity Central Index Key	1438095
Current Fiscal Year End Date	-28
Entity Common Stock, Shares Outstanding	5,245,535
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q3

Balance_Sheets

Balance Sheets (USD $)	Dec. 31, 2014	Mar. 31, 2014
Current assets
Cash	$0	$2
Prepaid expenses	0	400
Total current assets	0	402
Trademarks	723	723
Total assets	723	1,125
Current liabilities
Accounts payable and accrued liabilities	800	800
Related party payable	61,474	56,864
Total current liabilities	62,274	57,664
Stockholders' deficit
Preferred stock, $.001 par value; 5,000,000 shares authorized, no shares issued or outstanding	0	0
Common stock, $.001 par value; 70,000,000 shares authorized; 5,245,535 issued and outstanding	5,245	5,245
Additional paid-in capital	17,323	17,323
Deficit accumulated during the development stage	-84,119	-79,107
Total stockholders' deficit	-61,551	-56,539
Total liabilities and stockholders' deficit	$723	$1,125

Balance_Sheets_Parathenticals

Balance Sheets Parathenticals (USD $)	Dec. 31, 2014	Mar. 31, 2014
Parentheticals
Preferred Stock, par value	$0.00	$0.00
Preferred Stock, shares authorized	5,000,000	5,000,000
Common Stock, par value	$0.00	$0.00
Common Stock, shares authorized	70,000,000	70,000,000
Common Stock, shares issued	5,245,535	5,245,535
Common Stock, shares outstanding	5,245,535	5,245,535

Statements_of_Operations

Statements of Operations (USD $)	3 Months Ended		9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Revenue:
Revenue	$0	$0	$0	$0
Expenses
Professional fees	1,110	2,755	5,010	7,055
Research and development	0	0	0	0
Other general & administrative	0	36	2	108
Total expenses	1,110	2,791	5,012	7,163
Net loss	($1,110)	($2,791)	($5,012)	($7,163)
Net loss per weighted share, basic and fully diluted	$0	$0	$0	$0
Weighted average shares outstanding	5,245,535	5,245,535	5,245,535	5,245,535

Statements_of_Cash_Flows_Unaud

Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities
Net loss	($5,012)	($7,163)
Adjustments to reconcile net loss to net cash used in operating activities:
Common stock issued for services	0	0
Changes in operating liabilities:
Prepaid expenses	400	0
Accounts payable and accrued liabilities	0	-3,975
Net cash used in operating activities	-4,612	-11,138
Cash flows from investing activities
Purchase of trademarks	0	0
Net cash used in investing activities	0	0
Cash flows from financing activities
Repayment of bank overdraft	0	0
Proceeds from related party payable	4,610	11,140
Proceeds from sale of stock	0	0
Capital contributed by shareholders	0	0
Net cash provided by financing activities	4,610	11,140
Net increase (decrease) in cash	-2	2
Cash at beginning of period	2	36
Cash at end of period	0	38
Supplemental Cash Flow Information:
Cash paid for interest	0	0
Cash paid for income taxes	$0	$0

CONDENSED_FINANCIAL_STATEMENTS

CONDENSED FINANCIAL STATEMENTS	9 Months Ended
	Dec. 31, 2014
CONDENSED FINANCIAL STATEMENTS
CONDENSED FINANCIAL STATEMENTS	NOTE 1 - CONDENSED FINANCIAL STATEMENTS
	The accompanying financial statements have been prepared by the Company without audit.  In the opinion of management, all adjustments (which include only normal recurring adjustments) December 31, 2014 for all periods presented have been made.
	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 condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company's March 31, 2014 audited financial statements as reported in Form 10K.  The results of operations for the periods ended December 31, 2014 are not necessarily indicative of the operating results for the full year ended March 31, 2015.

GOING_CONCERN

GOING CONCERN	9 Months Ended
	Dec. 31, 2014
GOING CONCERN:
GOING CONCERN	NOTE 2 - GOING CONCERN
	The Company's financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern.  The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable.  If the Company is unable to obtain adequate capital, it could be forced to cease operations.
	In order to continue as a going concern, the Company will need, among other things, additional capital resources.  Management's plans to obtain such resources for the Company include (1) obtaining capital from management and significant stockholders sufficient to meet its minimal operating expenses, and (2) as a last resort, seeking out and completing a merger with an existing operating company. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans.
	The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Dec. 31, 2014
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 3 – SUBSEQUENT EVENTS
	The Company has evaluated subsequent events through the date of this filing and determined there are no events to disclose.