Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | |
Aug. 31, 2016 | Feb. 28, 2016 | |
Document and Entity Information: | ||
Entity Registrant Name | ESSENSE WATER, INC. | |
Document Type | 10-K | |
Document Period End Date | Aug. 31, 2016 | |
Trading Symbol | esw | |
Amendment Flag | false | |
Entity Central Index Key | 1,459,287 | |
Current Fiscal Year End Date | --08-31 | |
Entity Common Stock, Shares Outstanding | 12,400,000 | |
Entity Public Float | $ 0 | |
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 | 2,016 | |
Document Fiscal Period Focus | FY |
Audited Condensed Statement of
Audited Condensed Statement of Operations - USD ($) | 12 Months Ended | |
Aug. 31, 2016 | Aug. 31, 2015 | |
Revenues | ||
Sales Revenue, Goods, Net | $ 35,565 | $ 0 |
Revenues | 35,565 | 0 |
Cost of Services | 3,792 | 0 |
Gross Profit | 31,773 | 0 |
Operating Expenses | ||
General and Administrative Expense | 11,961 | 10,504 |
Operating Expenses | 11,961 | 10,504 |
Operating Income (Loss) | 19,636 | (10,504) |
Income Tax Expense (Benefit) | ||
Current Income Tax Expense (Benefit) | 0 | 0 |
Net Income (Loss) Attributable to Parent | $ 19,636 | $ (10,504) |
Earnings Per Share | ||
Earnings Per Share, Basic and Diluted | $ 0 | $ 0 |
Weighted Average Number of Shares Outstanding, Basic and Diluted | 12,400,000 | 12,400,000 |
Audited Condensed Balance Sheet
Audited Condensed Balance Sheets - USD ($) | Aug. 31, 2016 | Aug. 31, 2015 |
Assets, Current | ||
Cash and Cash Equivalents, at Carrying Value | $ 752 | $ 37 |
Accounts Receivable, Current | 4,650 | 0 |
Assets, Current | 5,402 | 37 |
Assets | 5,402 | 37 |
Liabilities, Current | ||
Accrued Liabilities, Current | 5,750 | 5,500 |
Other Liabilities, Current | 34,498 | 49,020 |
Liabilities, Current | 40,248 | 54,520 |
Liabilities | 40,248 | 54,520 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | ||
Common Stock, Value, Issued | 1,240 | 1,240 |
Additional Paid in Capital, Common Stock | 10,760 | 10,760 |
Accumulated Other Comprehensive Income (Loss), Net of Tax | (46,836) | (66,483) |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ (34,846) | $ (54,483) |
Stockholders' Equity, Number of Shares, Par Value and Other Disclosures | ||
Common Stock, Shares Authorized | 75,000,000 | 75,000,000 |
Common Stock, Shares Issued | 12,400,000 | 12,400,000 |
Liabilities and Equity | $ 5,402 | $ 37 |
Audited Condensed Statements of
Audited Condensed Statements of Cash Flows - USD ($) | 12 Months Ended | |
Aug. 31, 2016 | Aug. 31, 2015 | |
Net Cash Provided by (Used in) Operating Activities | ||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ 19,636 | $ (10,504) |
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities | ||
Increase (Decrease) in Accounts Receivable | (4,650) | 0 |
Increase (Decrease) in Operating Liabilities | ||
Increase (Decrease) in Accounts Payable and Accrued Liabilities | 250 | 150 |
Net Cash Provided by (Used in) Operating Activities | 15,236 | (10,354) |
Net Cash Provided by (Used in) Financing Activities | ||
Proceeds from (Repayments of) Related Party Debt | (14,521) | 10,347 |
Proceeds from Issuance of Common Stock | 0 | 0 |
Net Cash Provided by (Used in) Financing Activities | (14,521) | 10,347 |
Cash and Cash Equivalents, Period Increase (Decrease) | 715 | (7) |
Cash and Cash Equivalents, at Carrying Value | 37 | 44 |
Cash and Cash Equivalents, at Carrying Value | $ 752 | $ 37 |
Statement of Stockholders' Equi
Statement of Stockholders' Equity - USD ($) | Common Stock | Additional Paid-in Capital | Accumulated Other Comprehensive Income | Total |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Jan. 28, 2009 | $ 0 | $ 0 | $ 0 | $ 0 |
Shares, Outstanding at Jan. 28, 2009 | 0 | |||
Stock Issued During Period, Value, New Issues | $ 1,200 | 800 | 2,000 | |
Stock Issued During Period, Shares, New Issues | 12,000,000 | |||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | (3,911) | (3,911) | ||
Stockholders' Equity, Period Increase (Decrease) | (1,911) | |||
Stock Issued During Period, Shares, Period Increase (Decrease) | 12,000,000 | |||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Aug. 31, 2009 | $ 1,200 | 800 | (3,911) | (1,911) |
Shares, Outstanding at Aug. 31, 2009 | 12,000,000 | |||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | (9,117) | (9,117) | ||
Stockholders' Equity, Period Increase (Decrease) | (9,117) | |||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Aug. 31, 2010 | $ 1,200 | 800 | (13,027) | (11,027) |
Shares, Outstanding at Aug. 31, 2010 | 12,000,000 | |||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | (11,818) | (11,818) | ||
Stockholders' Equity, Period Increase (Decrease) | (11,818) | |||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Aug. 31, 2011 | $ 1,200 | 800 | (24,845) | (22,845) |
Shares, Outstanding at Aug. 31, 2011 | 12,000,000 | |||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | (10,682) | (10,682) | ||
Stockholders' Equity, Period Increase (Decrease) | (10,682) | |||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Aug. 31, 2012 | $ 1,200 | 800 | (35,527) | (33,527) |
Shares, Outstanding at Aug. 31, 2012 | 12,000,000 | |||
Stock Issued During Period, Value, New Issues | $ 9,960 | 40 | 10,000 | |
Stock Issued During Period, Shares, New Issues | 400,000 | |||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | (10,490) | (10,490) | ||
Stockholders' Equity, Period Increase (Decrease) | (490) | |||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Aug. 31, 2013 | $ 1,240 | 10,760 | (36,018) | (34,018) |
Shares, Outstanding at Aug. 31, 2013 | 12,400,000 | |||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | (9,960) | |||
Stockholders' Equity, Period Increase (Decrease) | (9,960) | |||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Aug. 31, 2014 | $ 1,240 | 10,760 | (55,979) | (43,979) |
Shares, Outstanding at Aug. 31, 2014 | 12,400,000 | |||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | (10,504) | (10,504) | ||
Stockholders' Equity, Period Increase (Decrease) | (10,504) | |||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Aug. 31, 2015 | $ 1,240 | $ 10,760 | (66,483) | (54,483) |
Shares, Outstanding at Aug. 31, 2015 | 12,400,000 | |||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ 19,636 | 19,636 | ||
Stockholders' Equity, Period Increase (Decrease) | 19,636 | |||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Aug. 31, 2016 | $ (34,846) | |||
Shares, Outstanding at Aug. 31, 2016 | 12,400,000 |
Note 1. Organization and Descri
Note 1. Organization and Description of Business | 12 Months Ended |
Aug. 31, 2016 | |
Notes | |
Note 1. Organization and Description of Business | NOTE 1. ORGANIZATION AND DESCRIPTION OF BUSINESS Essense Water, Inc. (the "Company"), was incorporated on January 29, 2009, under the laws of the State of Nevada. During the 3rd quarter of fiscal year 2016, The Company adopted a new business plan consisting of the development and implementation of an SAT-exam preparatory program/course. In doing so, the Company also changed its name to SATUSA to more closely align it with the new business plan. The Company has elected a fiscal year end of August 31. The Company's authorized share capital consists of 75,000,000 shares of common stock, $0.0001 par value per share. At August 31, 2016 and 2015, the Company had 12,400,000 shares of its common stock issued and outstanding, respectively. |
Note 2. Summary of Significant
Note 2. Summary of Significant Accounting Policies | 12 Months Ended |
Aug. 31, 2016 | |
Notes | |
Note 2. Summary of Significant Accounting Policies | NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES A. BASIS OF ACCOUNTING The Company's financial statements are prepared using the accrual method of accounting. The Company has elected an August 31 year end. B. BASIC EARNINGS PER SHARE ASC No. 260, "Earnings Per Share", specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock. The Company has adopted the provisions of ASC No. 260. Basic net loss per share amounts is computed by dividing the net loss by the weighted average number of common shares outstanding. Diluted earnings per share are the same as basic earnings per share due to the lack of dilutive items in the Company. C. CASH EQUIVALENTS The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. D. USE OF ESTIMATES AND ASSUMPTIONS The preparation of financial statements in conformity with generally accepted accounting principles 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. Actual results could differ from those estimates. In accordance with ASC No. 250 all adjustments are normal and recurring. E. INCOME TAXES Income taxes are provided in accordance with ASC No. 740, Accounting for Income Taxes. A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carryforwards. Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of all of the deferred tax assets will be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. F. REVENUE The Company records revenue on the accrual basis when all services have been performed and delivered, the amounts are readily determinable, and collection is reasonably assured. G. ADVERTISING The Company will expense its advertising when incurred. There have been no advertising costs since inception. H. RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS FASB issues various Accounting Standards Updates relating to the treatment and recording of certain accounting transactions. On June 10, 2014, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2014-10, DEVELOPMENT STAGE ENTITIES (TOPIC 915) - ELIMINATION OF CERTAIN FINANCIAL REPORTING REQUIREMENTS, INCLUDING AN AMENDMENT TO VARIABLE INTEREST ENTITIES GUIDANCE IN TOPIC 810, CONSOLIDATION, which eliminates the concept of a development stage entity (DSE) entirely from current accounting guidance. The Company has elected adoption of this standard, which eliminates the designation of DSEs and the requirement to disclose results of operations and cash flows since inception. |
Note 3. Going Concern
Note 3. Going Concern | 12 Months Ended |
Aug. 31, 2016 | |
Notes | |
Note 3. Going Concern | NOTE 3. GOING CONCERN The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in the notes to the financial statements, the Company has only recently been receiving revenues. This raises doubt about the Company's ability to continue as a going concern. Without realization of continued revenues and/or additional capital, it would be unlikely for the Company to continue as a going concern. The financial statements do not include any adjustments that might result from this uncertainty. The Company's activities to date have been supported by equity financing by its founder. It has sustained losses in all reporting periods, with an inception to date net loss of $46,836 as of August 31, 2016. |
Note 4. Warrants and Options
Note 4. Warrants and Options | 12 Months Ended |
Aug. 31, 2016 | |
Notes | |
Note 4. Warrants and Options | NOTE 4. WARRANTS AND OPTIONS There are no warrants or options outstanding to acquire any additional shares of common stock. |
Note 5. Related Party Transacti
Note 5. Related Party Transactions | 12 Months Ended |
Aug. 31, 2016 | |
Notes | |
Note 5. Related Party Transactions | NOTE 5. RELATED PARTY TRANSACTIONS The Company's sole Officer and Director has advanced/loaned the Company funds and has paid certain third-party expenses on behalf of the Company. As of August 31, 2016 and 2015, the net amounts owing the sole officer and director were $34,498 and $49,020, respectively. These amounts are payable on demand and are non-interest bearing. The Company's sole officer and director has received and is owed no salary. The Company neither owns nor leases any real or personal property. The sole officer and director of the Company is involved in other business activities and may, in the future, become involved in other business opportunities as they become available. Thus he may face a conflict in selecting between the Company and his other business interests. The Company has not formulated a policy for the resolution of such conflicts. |
Note 6. Income Taxes
Note 6. Income Taxes | 12 Months Ended |
Aug. 31, 2016 | |
Notes | |
Note 6. Income Taxes | NOTE 6. INCOME TAXES As of August 31, 2016 2015 Deferred tax assets: Net operating loss carryforwards $ 46,847 $ 66,483 Tax Rate 34% 34% Gross deferred tax assets 15,928 22,604 Valuation allowance (15,928) (22,604) Net deferred tax assets $ - $ - Realization of deferred tax assets is dependent upon sufficient future taxable income during the period that deductible temporary differences and carryforwards are expected to be available to reduce taxable income. As the achievement of required future taxable income is uncertain, the Company recorded a valuation allowance. |
Note 7. Net Operating Losses
Note 7. Net Operating Losses | 12 Months Ended |
Aug. 31, 2016 | |
Notes | |
Note 7. Net Operating Losses | NOTE 7. NET OPERATING LOSSES As of August 31, 2016, the Company has a net operating loss carryforward of approximately $46,847. Net operating loss carryforward expires 20 years from the date the loss was incurred. |
Note 8. Stock Transactions
Note 8. Stock Transactions | 12 Months Ended |
Aug. 31, 2016 | |
Notes | |
Note 8. Stock Transactions | NOTE 8. STOCK TRANSACTIONS The stockholders' equity section of the Company contains the following classes of capital stock as of August 31: Common stock, $0.0001 par value: 75,000,000 shares authorized; 12,400,000 shares issued and outstanding as of August 31, 2015 and 2014, respectively. On May 29, 2009 the Company issued a total of 12,000,000 shares of common stock to its sole officer/director for cash at $0.00017 per share for total proceeds of $2,000. During the fiscal year 2013, the Company sold and issued a total of 400,000 shares of common stock to various investors for cash at $0.025 per share for total proceeds of $10,000. |
Note 9. Subsequent Events
Note 9. Subsequent Events | 12 Months Ended |
Aug. 31, 2016 | |
Notes | |
Note 9. Subsequent Events | NOTE 9. SUBSEQUENT EVENTS The Company has evaluated subsequent events through the date that the financial statements were issued, and determined there are no other subsequent events to be reported. |
Note 2. Summary of Significan15
Note 2. Summary of Significant Accounting Policies: A. Basis of Accounting (Policies) | 12 Months Ended |
Aug. 31, 2016 | |
Policies | |
A. Basis of Accounting | A. BASIS OF ACCOUNTING The Company's financial statements are prepared using the accrual method of accounting. The Company has elected an August 31 year end. |
Note 2. Summary of Significan16
Note 2. Summary of Significant Accounting Policies: B. Basic Earnings Per Share (Policies) | 12 Months Ended |
Aug. 31, 2016 | |
Policies | |
B. Basic Earnings Per Share | B. BASIC EARNINGS PER SHARE ASC No. 260, "Earnings Per Share", specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock. The Company has adopted the provisions of ASC No. 260. Basic net loss per share amounts is computed by dividing the net loss by the weighted average number of common shares outstanding. Diluted earnings per share are the same as basic earnings per share due to the lack of dilutive items in the Company. |
Note 2. Summary of Significan17
Note 2. Summary of Significant Accounting Policies: C. Cash Equivalents (Policies) | 12 Months Ended |
Aug. 31, 2016 | |
Policies | |
C. Cash Equivalents | C. CASH EQUIVALENTS The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. |
Note 2. Summary of Significan18
Note 2. Summary of Significant Accounting Policies: D. Use of Estimates and Assumptions (Policies) | 12 Months Ended |
Aug. 31, 2016 | |
Policies | |
D. Use of Estimates and Assumptions | D. USE OF ESTIMATES AND ASSUMPTIONS The preparation of financial statements in conformity with generally accepted accounting principles 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. Actual results could differ from those estimates. In accordance with ASC No. 250 all adjustments are normal and recurring. |
Note 2. Summary of Significan19
Note 2. Summary of Significant Accounting Policies: E. Income Taxes (Policies) | 12 Months Ended |
Aug. 31, 2016 | |
Policies | |
E. Income Taxes | E. INCOME TAXES Income taxes are provided in accordance with ASC No. 740, Accounting for Income Taxes. A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carryforwards. Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of all of the deferred tax assets will be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. |
Note 2. Summary of Significan20
Note 2. Summary of Significant Accounting Policies: F. Revenue (Policies) | 12 Months Ended |
Aug. 31, 2016 | |
Policies | |
F. Revenue | F. REVENUE The Company records revenue on the accrual basis when all services have been performed and delivered, the amounts are readily determinable, and collection is reasonably assured. |
Note 2. Summary of Significan21
Note 2. Summary of Significant Accounting Policies: Advertising Costs, Policy (Policies) | 12 Months Ended |
Aug. 31, 2016 | |
Policies | |
Advertising Costs, Policy | G. ADVERTISING The Company will expense its advertising when incurred. There have been no advertising costs since inception. |
Note 2. Summary of Significan22
Note 2. Summary of Significant Accounting Policies: H. Recently Issued Accounting Pronouncements (Policies) | 12 Months Ended |
Aug. 31, 2016 | |
Policies | |
H. Recently Issued Accounting Pronouncements | H. RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS FASB issues various Accounting Standards Updates relating to the treatment and recording of certain accounting transactions. On June 10, 2014, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2014-10, DEVELOPMENT STAGE ENTITIES (TOPIC 915) - ELIMINATION OF CERTAIN FINANCIAL REPORTING REQUIREMENTS, INCLUDING AN AMENDMENT TO VARIABLE INTEREST ENTITIES GUIDANCE IN TOPIC 810, CONSOLIDATION, which eliminates the concept of a development stage entity (DSE) entirely from current accounting guidance. The Company has elected adoption of this standard, which eliminates the designation of DSEs and the requirement to disclose results of operations and cash flows since inception. |
Note 6. Income Taxes_ Schedule
Note 6. Income Taxes: Schedule of deferred tax assets (Tables) | 12 Months Ended |
Aug. 31, 2016 | |
Tables/Schedules | |
Schedule of deferred tax assets | As of August 31, 2016 2015 Deferred tax assets: Net operating loss carryforwards $ 46,847 $ 66,483 Tax Rate 34% 34% Gross deferred tax assets 15,928 22,604 Valuation allowance (15,928) (22,604) Net deferred tax assets $ - $ - |
Note 6. Income Taxes_ Schedul24
Note 6. Income Taxes: Schedule of deferred tax assets (Details) - USD ($) | Aug. 31, 2016 | Aug. 31, 2015 |
Details | ||
Deferred Tax Assets, Operating Loss Carryforwards | $ 46,847 | $ 66,483 |
Deferred Tax Assets, Gross | 15,928 | 22,604 |
Deferred Tax Assets, Valuation Allowance | $ (15,928) | $ (22,604) |