Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Apr. 30, 2015 | Aug. 13, 2015 | Jul. 31, 2014 | |
Document And Entity Information | |||
Entity Registrant Name | Kashin, Inc. | ||
Entity Central Index Key | 1,467,845 | ||
Document Type | 10-K | ||
Document Period End Date | Apr. 30, 2015 | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --04-30 | ||
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 | 10,014,737 | ||
Entity Public Float | $ 149,995 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2,015 |
CONDENSED BALANCE SHEETS
CONDENSED BALANCE SHEETS - USD ($) | Apr. 30, 2015 | Apr. 30, 2014 |
CURRENT ASSETS | ||
Cash | $ 2,720 | $ 79 |
TOTAL CURRENT ASSETS | 2,720 | 79 |
CURRENT LIABILITIES | ||
Accounts payable and accrued liabilities | 129,642 | 72,052 |
Accounts payable - related party | 21,883 | 21,883 |
Loans from related party | 36,913 | 29,998 |
TOTAL CURRENT LIABILITIES | 188,437 | 123,933 |
STOCKHOLDERS' EQUITY ( DEFICIT ) | ||
Capital stock Authorized 75,000,000 shares of common stock, $0.001 par value, Issued and outstanding 10,014,737 shares at April 30, 2015 and at April 30, 2014 | 10,015 | 10,015 |
Additional Paid in Capital | 5,762 | 5,762 |
Accumulated deficit | (201,493) | (139,630) |
TOTAL STOCKHOLDERS' EQUITY/(DEFICIT) | (185,717) | (123,854) |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY/(DEFICIT) | $ 2,720 | $ 79 |
CONDENSED BALANCE SHEETS (Paren
CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares | Apr. 30, 2015 | Apr. 30, 2014 |
STOCKHOLDERS' EQUITY ( DEFICIT ) | ||
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 75,000,000 | 75,000,000 |
Common stock, shares issued | 10,014,737 | 10,014,737 |
Common stock, shares outstanding | 10,014,737 | 10,014,737 |
CONDENSED STATEMENTS OF OPERATI
CONDENSED STATEMENTS OF OPERATIONS - USD ($) None in scaling factor is -9223372036854775296 | 12 Months Ended | |
Apr. 30, 2015 | Apr. 30, 2014 | |
REVENUE | ||
Revenues | ||
Total Revenues | ||
EXPENSES | ||
Office and general | $ 31,976 | $ 19,313 |
Professional Fees | 29,888 | 13,250 |
Total Expenses, before provision of income taxes | $ 61,863 | $ 32,563 |
Provision for income taxes | ||
NET LOSS | $ (61,863) | $ (32,563) |
BASIC AND DILUTED LOSS PER COMMON SHARE | ||
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING | 10,014,737 | 10,014,737 |
STATEMENTS OF STOCKHOLDERS' EQU
STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) | Common Stock | Additional Paid-In Capital | Share Subscriptions Receivable | Accumulated deficit | Total |
Beginning Balance, Shares at Apr. 30, 2013 | 10,014,737 | ||||
Beginning Balance, Amount at Apr. 30, 2013 | $ 10,015 | $ 5,761 | $ (107,067) | $ (91,291) | |
Net loss | (32,563) | (32,563) | |||
Ending Balance, Shares at Apr. 30, 2014 | 10,014,737 | ||||
Ending Balance, Amount at Apr. 30, 2014 | $ 10,015 | $ 5,761 | (139,630) | (123,854) | |
Net loss | (61,863) | (61,863) | |||
Ending Balance, Shares at Apr. 30, 2015 | 10,014,737 | ||||
Ending Balance, Amount at Apr. 30, 2015 | $ 10,015 | $ 5,761 | $ (201,493) | $ (185,717) |
CONDENSED STATEMENTS OF CASH FL
CONDENSED STATEMENTS OF CASH FLOWS - USD ($) | 12 Months Ended | 73 Months Ended | |
Apr. 30, 2015 | Apr. 30, 2014 | Apr. 30, 2015 | |
OPERATING ACTIVITIES | |||
Net Loss | $ (61,863) | $ (32,563) | $ (201,493) |
Adjustment to reconcile net loss to net cash used in operating activities: | |||
Expenses paid on company's behalf by related party | 6,914 | 3,715 | |
Increase (decrease) in accrued expenses | 57,590 | $ 28,848 | |
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | $ 2,641 | ||
FINANCING ACTIVITIES | |||
Proceeds from sale of common stock | |||
Loans from Related Party | |||
NET CASH PROVIDED BY FINANCING ACTIVITIES | |||
NET INCREASE (DECREASE) IN CASH | $ 2,641 | ||
CASH, BEGINNING OF PERIOD | 79 | $ 79 | |
CASH, END OF PERIOD | $ 2,720 | $ 79 | $ 2,720 |
Supplemental cash flow & noncash financing activities: | |||
Cash paid for: Interest | |||
Cash paid for: Income taxes |
NATURE OF OPERATIONS AND BASIS
NATURE OF OPERATIONS AND BASIS OF PRESENTATION | 12 Months Ended |
Apr. 30, 2015 | |
Notes to Financial Statements | |
NOTE 1 - NATURE OF OPERATIONS AND BASIS OF PRESENTATION | The Company was incorporated in the State of Nevada as a for-profit Company on April 9, 2009 and established a fiscal year end of April 30. The Company changed its name on July 27, 2015 to Kashin, Inc. having received FINRAs approval. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Apr. 30, 2015 | |
Notes to Financial Statements | |
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | Basis of Presentation In the opinion of management, the accompanying balance sheets, statements of operations, stockholders' equity (deficit) and cash flows include all adjustments, consisting only of normal recurring items, for their fair presentation in conformity with accounting principles generally accepted in the United States. These financial statements are presented in United States dollars. Advertising Advertising costs are expensed as incurred. As of April 30, 2015 and 2014, no advertising costs have been incurred. Property The Company does not own or rent any property. The office space is provided by the president at no charge. Revenue and Cost Recognition The Company has no current source of revenue; therefore the Company has not yet adopted any policy regarding the recognition of revenue or cost. Cash and Cash Equivalents The Company considers all highly liquid investments with maturity of three months or less to be cash equivalents. Use of Estimates and Assumptions Preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Income Taxes The Company follows the liability method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax balances. Deferred tax assets and liabilities are measured using enacted or substantially enacted tax rates expected to apply to the taxable income in the years in which those differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the date of enactment or substantive enactment. Net Loss per Share Basic loss per share includes no dilution and is computed by dividing loss available to common stockholders by the weighted average number of common shares outstanding for the period. Dilutive loss per share reflects the potential dilution of securities that could share in the losses of the Company. Because the Company does not have any potentially dilutive securities, the accompanying presentation is only of basic loss per share. Recent Accounting Pronouncements The company has evaluated all the recent accounting pronouncements and believes that none of them will have a material effect on the company s financial statement. |
GOING CONCERN
GOING CONCERN | 12 Months Ended |
Apr. 30, 2015 | |
Notes to Financial Statements | |
NOTE 3 - GOING CONCERN | The Companys financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern. This contemplates the realization of assets and the liquidation of liabilities in the normal course of business. Currently, the Company has a working capital deficit of $185,717, an accumulated deficit of $201,493 and net loss from operations since inception of $201,493. The Company does not have a source of revenue sufficient to cover its operation costs giving substantial doubt for it to continue as a going concern. The Company will be dependent upon the raising of additional capital through placement of our common stock in order to implement its business plan, or merge with an operating company. There can be no assurance that the Company will be successful in either situation in order to continue as a going concern. The Company funded its initial operations by way of issuing Founders shares. |
FAIR VALUE OF FINANCIAL INSTRUM
FAIR VALUE OF FINANCIAL INSTRUMENTS | 12 Months Ended |
Apr. 30, 2015 | |
Notes to Financial Statements | |
NOTE 4 - FAIR VALUE OF FINANCIAL INSTRUMENTS | The Company has determined the estimated fair value of financial instruments using available market information and appropriate valuation methodologies. The fair value of financial instruments classified as current assets or liabilities approximate their carrying value due to the short-term maturity of the instruments. |
CAPITAL STOCK
CAPITAL STOCK | 12 Months Ended |
Apr. 30, 2015 | |
Notes to Financial Statements | |
NOTE 5 - CAPITAL STOCK | The Companys capitalization was reduced to 75,000,000 common shares with a par value of $0.001 per share, on July 27, 2015. No preferred shares have been authorized or issued. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended |
Apr. 30, 2015 | |
Notes to Financial Statements | |
NOTE 6 - RELATED PARTY TRANSACTIONS | As of April 30, 2015 and 2014, the Company has received $36,913 and $29,998, respectively, in loans and payment of expenses from a related party. The loans are payable on demand and without interest. |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Apr. 30, 2015 | |
Notes to Financial Statements | |
NOTE 7 - INCOME TAXES | We did not provide any current or deferred U.S. federal income tax provision or benefit for any of the periods presented because we have experienced operating losses since inception. Accounting for Uncertainty in Income Taxes when it is more likely than not that a tax asset cannot be realized through future income the Company must allow for this future tax benefit. We provided a full valuation allowance on the net deferred tax asset, consisting of net operating loss carry forwards, because management has determined that it is more likely than not that we will not earn income sufficient to realize the deferred tax assets during the carry forward period. The components of the Companys deferred tax asset and reconciliation of income taxes computed at the statutory rate to the income tax amount recorded as of April 30, 2015 and 2014 are as follows: April 30, 2015 April 30, 2014 Net operating loss carry forward 201,493 139,630 Effective Tax rate 35 % 35 % Deferred Tax Assets 70,523 48,871 Less: Valuation Allowance (70,523 ) (48,871 ) Net deferred tax asset $ 0 $ 0 The net federal operating loss carry forward will expire between 2033 and 2034. This carry forward may be limited upon the consummation of a business combination under IRC Section 381. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Apr. 30, 2015 | |
Notes to Financial Statements | |
NOTE 8 - SUBSEQUENT EVENTS | The Company has evaluated subsequent events from the balance sheet date through the date the financial statements were issued and has determined that there are no events to disclose. |
SUMMARY OF SIGNIFICANT ACCOUN15
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Apr. 30, 2015 | |
Summary Of Significant Accounting Policies Policies | |
Basis of Presentation | In the opinion of management, the accompanying balance sheets, statements of operations, stockholders' equity (deficit) and cash flows include all adjustments, consisting only of normal recurring items, for their fair presentation in conformity with accounting principles generally accepted in the United States. These financial statements are presented in United States dollars. |
Advertising | Advertising costs are expensed as incurred. As of April 30, 2015 and 2014, no advertising costs have been incurred. |
Property | The Company does not own or rent any property. The office space is provided by the president at no charge. |
Revenue and Cost Recognition | The Company has no current source of revenue; therefore the Company has not yet adopted any policy regarding the recognition of revenue or cost. |
Cash and Cash Equivalents | The Company considers all highly liquid investments with maturity of three months or less to be cash equivalents. |
Use of Estimates and Assumptions | Preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. |
Income Taxes | The Company follows the liability method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax balances. Deferred tax assets and liabilities are measured using enacted or substantially enacted tax rates expected to apply to the taxable income in the years in which those differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the date of enactment or substantive enactment. |
Net Loss per Share | Basic loss per share includes no dilution and is computed by dividing loss available to common stockholders by the weighted average number of common shares outstanding for the period. Dilutive loss per share reflects the potential dilution of securities that could share in the losses of the Company. Because the Company does not have any potentially dilutive securities, the accompanying presentation is only of basic loss per share. |
Recent Accounting Pronouncements | The company has evaluated all the recent accounting pronouncements and believes that none of them will have a material effect on the companys financial statement. |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Apr. 30, 2015 | |
Income Taxes Tables | |
Deferred tax asset and reconciliation of income taxes | April 30, 2015 April 30, 2014 Net operating loss carry forward 201,493 139,630 Effective Tax rate 35 % 35 % Deferred Tax Assets 70,523 48,871 Less: Valuation Allowance (70,523 ) (48,871 ) Net deferred tax asset $ 0 $ 0 |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | 12 Months Ended | 73 Months Ended | ||
Apr. 30, 2015 | Apr. 30, 2014 | Apr. 30, 2015 | Apr. 30, 2013 | |
Going Concern Details Narrative | ||||
Working capital deficit | $ 185,717 | $ 123,854 | $ 185,717 | $ 91,291 |
Accumulated deficit | 201,493 | 139,630 | 201,493 | |
Net loss from operations | $ 61,863 | $ 32,563 | $ 201,493 |
CAPITAL STOCK (Details Narrativ
CAPITAL STOCK (Details Narrative) - $ / shares | Apr. 30, 2015 | Apr. 30, 2014 |
Capital Stock Details Narrative | ||
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 75,000,000 | 75,000,000 |
Common stock, shares issued | 10,014,737 | 10,014,737 |
Common stock, shares outstanding | 10,014,737 | 10,014,737 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | Apr. 30, 2015 | Apr. 30, 2014 |
Related Party Transactions Details Narrative | ||
Loans from related party | $ 36,913 | $ 29,998 |
INCOME TAXES (Details)
INCOME TAXES (Details) - USD ($) | 12 Months Ended | |
Apr. 30, 2015 | Apr. 30, 2014 | |
Income Taxes Details | ||
Net operating loss carry forward | $ 201,493 | $ 139,630 |
Effective Tax rate | 35.00% | 35.00% |
Deferred Tax Assets | $ 70,523 | $ 48,871 |
Less: Valuation Allowance | (70,523) | (48,871) |
Net deferred tax asset | $ 0 | $ 0 |