VinCompass (VCPS) 10-Q 15 Jul 16 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	May 31, 2016	Jul. 14, 2016
Document And Entity Information
Entity Registrant Name	VinCompass Corp.
Entity Central Index Key	1,490,949
Document Type	10-Q
Document Period End Date	May 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--02-28
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		43,795,767
Trading Symbol	VCPS
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,017

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($)	May 31, 2016	Feb. 29, 2016
Current Assets
Cash	$ 2,174	$ 43,680
Total Current Assets	2,174	43,680
TOTAL ASSETS	2,174	43,680
Current Liabilities
Accounts payable and accrued liabilities	124,540	93,406
Accounts payable to related party	96,129	74,959
Deferred Payroll	126,000	96,000
Short term debt - Related Party	116,160	116,160
Total Current Liabilities	462,829	380,525
Total Liabilities	462,829	380,525
Shareholder's Equity/(Deficit)
Preferred Stock, $0.001 par value; 2,000,000 authorized; 1,000,000 shares issued and outstanding	1,000	1,000
Common Stock, $0.001 par value; 400,000,000 shares authorized; 43,727,017 and 43,702,017 Shares issued and outstanding, respectively	43,727	43,702
Additional Paid-in Capital	1,705,803	1,674,578
Accumulated Deficit	(2,211,185)	(2,056,125)
Total Stockholders' Deficit	(460,655)	(336,845)
TOTAL LIABILITIES & STOCKHOLDER'S DEFICIT	$ 2,174	$ 43,680

Consolidated Balance Sheets (U3

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	May 31, 2016	Feb. 29, 2016
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued	1,000,000	1,000,000
Preferred stock, shares outstanding	1,000,000	1,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	43,727,017	43,702,017
Common stock, shares outstanding	43,727,017	43,702,017

Consolidated Statement of Opera

Consolidated Statement of Operations (Unaudited) - USD ($)	3 Months Ended
	May 31, 2016	May 31, 2015
Income Statement [Abstract]
General and Administrative Expenses	$ 84,287	$ 95,477
Sales & Marketing Expenses	70,773	33,830
Total Operating Expenses	155,060	129,307
Net Loss	$ (155,060)	$ (129,307)
Basic and diluted loss per share	$ 0	$ 0
Weighted Average number of shares outstanding - Basic and Diluted	43,702,289	26,000,000

Consolidated Statement of Cash

Consolidated Statement of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	May 31, 2016	May 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (155,060)	$ (129,307)
Adjustments to reconcile net loss to net cash used in operating activities:
Common stock issued for fees and services	31,250
Changes in operating assets and liabilities:
Accounts payable to related party	21,170	7,500
Deferred payroll	30,000	24,000
Accounts Payable and accrued expenses	31,134	5,516
CASH FLOWS USED IN OPERATING ACTIVITIES:	(41,506)	(92,291)
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from subscription receivable converted to equity		25,000
CASH PROVIDED BY IN INVESTING ACTIVITIES		25,000
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from Short-term related party debt		11,721
CASH PROVIDED BY FINANCING ACTIVITIES		11,721
NET CHANGE IN CASH	(41,506)	(55,570)
Cash at beginning of reporting period	43,680	55,570
Cash at end of reporting period	2,174
Cash paid during the period
Interest
Income taxes

General Organization and Busine

General Organization and Business	3 Months Ended
	May 31, 2016
Accounting Policies [Abstract]
General Organization and Business	Note 1. General Organization and Business VinCompass Corp. (Formerly known as Tiger Jiujiang Mining, Inc.), entered into a Share Exchange Agreement with VinCompass, whereby VinCompass Corp. exchanged 60.0% of its outstanding shares of common stock for 100% of the outstanding shares of VinCompass common stock. As of January 14, 2016 (the “Closing Date”), VinCompass will operate as a wholly owned subsidiary of VinCompass Corp. As of January 14, 2016, VinCompass Corp had 400,000,000 and 2,000,000 shares of common stock and preferred stock authorized, respectively, of which 17,500,000 and 1,000,000 were issued and outstanding, respectively. As a result of the Share Exchange Agreement, each outstanding share of VinCompass common stock was transferred, conveyed and delivered to VinCompass Corp. in exchange for 26,000000 newly-issued shares of common stock of VinCompass Corp. The 1,000,000 shares of preferred stock were held by VinCompass management as of closing date. The Merger will be accounted for as a “reverse merger” and recapitalization since, immediately following the completion of the transaction, the holders of VinCompass’s stock will have effective control of VinCompass Corp. In addition, VinCompass will have control of the combined entity through control of the Board by designating all board seats to be held by the existing board of VinCompass Corp. Additionally, all of VinCompass’s officers and senior executive positions will continue on as management of the combined entity after consummation of the Merger. For accounting purposes, VinCompass will be deemed to be the accounting acquirer in the transaction and, consequently, the transaction will be treated as a recapitalization of VinCompass Corp. Accordingly, VinCompass assets, liabilities and results of operations will become the historical financial statements of the registrant, and VinCompass’s assets, liabilities and results of operations will be consolidated with VinCompass Corp effective as of the date of the closing of the Merger. No step-up in basis or intangible assets or goodwill will be recorded in this transaction. VinCompass received $2,202 cash and assumed $114,327 liabilities upon execution of the reverse merger. On December 14, 2015, FINRA approved the Corporate Name Change, Symbol Change, and the Forward Split took effect on December 15, 2015 for Tiger Jiujiang Mining Corp. The Forward Split shares are payable upon surrender of certificates to the Company’s transfer agent. Accordingly, the Company’s symbol will change to TIGYD to reflect the Forward Split and Symbol Change and twenty (20) business days thereafter, the “D” will be removed and the symbol will change to VCPS.

Basis of Presentation

Basis of Presentation	3 Months Ended
	May 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	Note 2. Basis of Presentation The accompanying unaudited consolidated interim financial statements of Vincompass Corp 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, and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s Form 10-K filed with SEC. 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 fiscal 2016 as reported on Form 10-K have been omitted.

Going Concern

Going Concern	3 Months Ended
	May 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern	Note 3. Going Concern The accompanying financial statements have been prepared assuming the Company will continue as a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the normal course of business. The Company had accumulated deficits of $2, 211, 185 at May 31, 2016 and $2,056,125 at February 29, 2016. It had net losses of $155,060 for the three months ended May 31, 2016 and a net loss of $129,307 for the equivalent quarter ended May 31, 2015. These factors raise substantial doubt about the Company’s ability to continue as a going concern. While the Company is attempting to increase operations and generate revenues, the Company’s cash position may not be significant enough to support the Company’s daily operations. The Company will continue to pursue additional equity and/or debt financing while managing cash flows from operations in an effort to provide funds to meet its obligations on a timely basis and to support future business development. There is no assurance that these efforts will be successful. Management believes that the actions presently being taken to further implement its business plan and generate additional revenues provide the opportunity for the Company to continue as a going concern. While the Company believes in the viability of its strategy to generate additional revenues and in its ability to raise the additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon the Company’s ability to further implement its business plans and generate additional revenues. The financial statements do not include any adjustments to the amounts and classification of assets and liabilities that may result should the Company be unable to continue as a going concern.

Common Stock

Common Stock	3 Months Ended
	May 31, 2016
Equity [Abstract]
Common Stock	Note 4. Common Stock During the quarter ended May 31, 2016, the Company issue 25,000 shares in lieu of fees paid to third parties. The fair value of the shares is determined to be $31,250, using $1.25 per share, which the market price at May 31, 2016.

Related Party Transactions

Related Party Transactions	3 Months Ended
	May 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions	Note 5. Related Party Transactions As of May 31, 2016 and February 29, 2016, the amounts due to the majority shareholder and a director bear no interest and with no stated repayment terms; the Company recorded no imputed interest on these borrowings. These loans arose from payments made on behalf of the Company, including by private credit cards and was advanced as follows: Cash loans $ 116,160 Total $ 116,160 As of May 31, 2016 and February 29, 2016, the Company accrued payroll expense of $126,000 and $96,000, accrued rental and operating expenses of $96,129 and $74,959 due to the Company’s CEO.

Subsequent Events

Subsequent Events	3 Months Ended
	May 31, 2016
Subsequent Events [Abstract]
Subsequent Events	Note 6. Subsequent Events. Since May 31, 2016, the Company sold 68,750 shares of common stock at $0.80 per share for a total proceeds of $55,000 to third parties. The proceeds were used for operations expenses of the Company As of July 13, 2016, the Company executed a convertible promissory note for $33,500,00 to third parties. The Note bears an interest rate of 10% per annum and is due July 7, 2017. Between May 31, 2016 and July 13, 2016 the Company received a total of $88,500 of additional funding and is expected to continue these actives in the current period as per the Form D previously filed

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	May 31, 2016
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	These loans arose from payments made on behalf of the Company, including by private credit cards and was advanced as follows: Cash loans $ 116,160 Total $ 116,160

General Organization and Busi13

General Organization and Business (Details Narrative) - USD ($)	Jan. 14, 2016	May 31, 2016	Feb. 29, 2016
Common stock, shares authorized		400,000,000	400,000,000
Preferred stock, shares authorized		2,000,000	2,000,000
Common stock, shares issued		43,727,017	43,702,017
Common stock, shares outstanding		43,727,017	43,702,017
Preferred stock, shares issued		1,000,000	1,000,000
Preferred stock, shares outstanding		1,000,000	1,000,000
VinCompass Corp [Member]
Share exchange description		Entered into a Share Exchange Agreement with VinCompass, whereby VinCompass Corp. exchanged 60.0% of its outstanding shares of common stock for 100% of the outstanding shares of VinCompass common stock.
Common stock, shares authorized	400,000,000
Preferred stock, shares authorized	2,000,000
Common stock, shares issued	17,500,000
Common stock, shares outstanding	17,500,000
Preferred stock, shares issued	1,000,000
Preferred stock, shares outstanding	1,000,000
Number of shares issued newly of common stock	26,000,000
Number of preferred stock held	1,000,000
Cash received from reverse merger	$ 2,202
Assumed liabilities upon execution of reverse merger	$ 114,327

Going Concern (Details Narrativ

Going Concern (Details Narrative) - USD ($)	3 Months Ended
	May 31, 2016	May 31, 2015	Feb. 29, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 2,211,185		$ 2,056,125
Net Loss	$ 155,060	$ 129,307

Common Stock (Details Narrative

Common Stock (Details Narrative) - USD ($)	3 Months Ended
	May 31, 2016	May 31, 2015
Stock issued during period, value, issued for services	$ 31,250
Third Party [Member]
Stock issued during period, value, issued for services	$ 31,250
Stock issued during period, shares, issued for services	25,000
Share issued price per share	$ 1.25

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	May 31, 2016	Feb. 29, 2016
Related Party Transactions [Abstract]
Accrued payroll expense	$ 126,000	$ 96,000
Accounts payable due to related party	$ 96,129	$ 74,959

Related Party Transactions - Sc

Related Party Transactions - Schedule of Related Party Transactions (Details) - USD ($)	May 31, 2016	Feb. 29, 2016
Notes payable related parties classified current	$ 116,160	$ 116,160
Cash Loans [Member]
Notes payable related parties classified current	$ 116,160

Subsequent Events( Details Narr

Subsequent Events( Details Narrative) - Subsequent Event [Member] - USD ($)	Jul. 13, 2016	May 31, 2016
Sale of common stock		68,750
Sale of common stock, prices per share		$ 0.80
Sale of common stock, value		$ 55,000
Convertible promissory note	$ 3,350,000
Convertible promissory note,interest rate	10.00%
Debt instrument, maturity date	Jul. 7, 2017
Additional funding received	$ 88,500