Car Monkeys (CKMY) 10-K 13 Oct 15 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Jun. 30, 2015	Oct. 09, 2015	Dec. 31, 2014
Document And Entity Information
Entity Registrant Name	Car Monkeys Group
Entity Central Index Key	1,496,139
Document Type	10-K
Document Period End Date	Jun. 30, 2015
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
Public Float			$ 50,490
Entity Common Stock, Shares Outstanding		3,255,687
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,015

Balance Sheets

Balance Sheets - USD ($)	Jun. 30, 2015	Jun. 30, 2014
Current assets:
Cash	$ 68,373	$ 123,331
Restricted cash (Note 2)	23,479	73,563
Accounts receivable	17,947	28,350
Total current assets	109,799	$ 225,244
Restricted cash (Note 2)	69,024
Property, plant and equipment, net	2,916	$ 3,467
Intangible assets	353,194	353,194
Total assets	534,933	581,905
Current liabilities:
Accounts payable	44,606	39,882
Accounts payable - related party	16,406	31,946
Total current liabilities	61,012	71,828
Stockholders' Equity
Class A Preferred stock, par value $0.001, 10,000,000 shares authorized, 400,000 shares issued and outstanding as of June 30, 2015 and June 30, 2014, respectively	400	400
Common stock, par value $0.001, 100,000,000 shares authorized, 3,255,687 and 3,255,687 issued and outstanding as of June 30, 2015 and June 30, 2014, respectively	3,256	3,256
Additional paid-in capital	844,408	821,408
Retained deficit	(374,143)	(314,987)
Total stockholder's equity	473,921	510,077
Total liabilities and stockholder's equity	$ 534,933	$ 581,905

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2015	Jun. 30, 2014
Stockholders' Deficit
Class A Preferred stock, par value	$ 0.001	$ 0.001
Class A Preferred stock, authorized	10,000,000	10,000,000
Class A Preferred stock, issued	400,000	400,000
Class A Preferred stock, outstanding	400,000	400,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, authorized	100,000,000	100,000,000
Common stock, issued	3,255,687	3,255,687
Common stock, outstanding	3,255,687	3,255,687

Statements of Operations

Statements of Operations - USD ($)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Statements Of Operations
Net Revenue (gross total transactions of $2,351,753 and $1,850,959)	$ 779,377	$ 672,858
Operating expenses:
Advertising	208,448	94,249
General and administrative	73,253	69,766
Selling	192,685	108,012
Professional fees	70,281	58,013
Executive compensation	269,900	222,833
Stock issued for consulting fees and finance charges	23,000	25,000
Depreciation expense	966	403
Total operating expenses	838,533	578,276
Operating income (loss) before income taxes	$ (59,156)	94,582
Other income		$ 1
Income tax (expense) benefit
Net income (loss)	$ (59,156)	$ 94,583
Basic and diluted income (loss) per common share	$ (0.02)	$ 0.03
Weighted average shares outstanding	3,255,687	3,251,490

Statements of Operations (Paren

Statements of Operations (Parenthetical) - USD ($)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Statements Of Operations
Gross transactions	$ 2,351,753	$ 1,850,959

Statement of Changes of Stockho

Statement of Changes of Stockholders’ Equity - USD ($)	Preferred Stock	Common Stock	Additional Paid-In Capital	Retained Deficit	Total
Beginning Balance, Shares at Jun. 30, 2013	400,000	3,250,687
Beginning Balance, Amount at Jun. 30, 2013	$ 400	$ 3,251	$ 796,388	$ (409,570)	$ 390,469
Common stock issued for late fees on accounts payable, Shares		5,000
Common stock issued for late fees on accounts payable, Amount		$ 5	24,995		25,000
Contributed capital			$ 25		$ 25
Vesting of stock options
Net loss				$ 94,583	$ 94,583
Ending Balance, Shares at Jun. 30, 2014	400,000	3,255,687	821,408	(314,987)	510,077
Ending Balance, Amount at Jun. 30, 2014	$ 400	$ 3,256			$ 510,077
Common stock issued for late fees on accounts payable, Shares
Common stock issued for late fees on accounts payable, Amount
Contributed capital
Vesting of stock options			$ 23,000
Net loss				$ (59,156)	$ (59,156)
Ending Balance, Shares at Jun. 30, 2015	400,000	3,255,687
Ending Balance, Amount at Jun. 30, 2015	$ 400	$ 3,256	$ 844,408	$ (374,143)	$ 473,921

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net income (loss)	$ (59,156)	$ 94,583
Depreciation expense	966	403
Stock and stock options issued for expenses	23,000	25,000
Adjustments to reconcile net income ( loss) to net cash used in operating activities:
Restricted cash	(18,940)	(73,563)
Accounts receivable	$ 10,403	(26,470)
Prepaid expenses		5,833
Accounts payable	$ 4,724	26,479
Accounts payable - related party	(15,540)	31,946
Net cash provided by (used in) operating activities	(54,543)	84,481
Cash flows from investing activities:
Purchase of equipment	(415)	(2,509)
Net cash used in investing activities	$ (415)	(2,509)
Cash flows from financing activities:
Contributed capital		25
Net cash provided by ( used in ) financing activities	$ (415)	25
Net increase (decrease) in cash	(54,958)	81,997
Cash at beginning of period	123,331	41,334
Cash at end of period	$ 68,373	$ 123,331
Supplemental Information and Non-Monetary Transactions:
Cash paid for interest
Cash paid for income taxes

ORGANIZATION

ORGANIZATION	12 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Note 1 - ORGANIZATION	Car Monkeys Group (the “Company”) was incorporated on June 23, 2010 in the State of Nevada. The Company’s accounting and reporting policies conform to accounting principles generally accepted in the United States of America, and the Company’s fiscal year end is June 30. The Company’s development and operations are to provide online sales of recycled automotive parts using the Company’s sole and exclusive license to certain proprietary technology relating to online procurement of goods (the “Technology”). Car Monkeys Group is an online retailer of used auto parts under the brand name Car Monkeys. The Company utilizes proprietary algorithms developed in 2008 by Mariusz Girt, the Company’s president. The Company’s proprietary search and consolidation algorithm allows us to show our customers all parts that meet their specific needs. Far more sophisticated than normal search engines, this technology understands and accounts for the fact that many identical parts and assemblies are shared across multiple models, model years, and even across brands. Most owners are completely unaware that parts from a completely different vehicle may be an exact fit for their application. Ordinary search engines do not account for this interchangeability, and as a result, severely limit the customer’s range of choices. Working from this expanded field of prospects, a second proprietary component of our technology applies advanced AI techniques to perform a complex analysis to identify parts that are simultaneously competitively priced as well as of verifiable quality. This component allows us to assess all resultant prospects, and display those that simultaneously represent the best value to our customers, a reasonable profit margin, and, most importantly, a predictive quality metric that allows us to offer a 5-year unlimited-mileage warranty on used parts purchased from us. The technology also includes a fulfillment module, and a fulfillment follow-up module, allowing real time searching of over 157 million auto parts from a trusted network of suppliers, as well as an automated process to identify in-transit shipments, and shipment problems.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Note 2 - SIGNIFICANT ACCOUNTING POLICIES	USE OF ESTIMATES The preparation of the Company’s financial statements in conformity with accounting principles generally accepted in the United States 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 amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s periodic filings with the Securities and Exchange Commission include, where applicable, disclosures of estimates, assumptions, uncertainties and markets that could affect the financial statements and future operations of the Company. CASH AND CASH EQUIVALENTS Cash and cash equivalents include cash in banks, money market funds, and certificates of term deposits with maturities of less than three months from inception, which are readily convertible to known amounts of cash and which, in the opinion of management, are subject to an insignificant risk of loss in value. The Company had $68,373 and $123,331 in cash and cash equivalents as of June 30, 2015 and June 30, 2014, respectively. RESTRICTED CASH The Company uses merchant accounts to facilitate sales realized through the Company’s proprietary online sales platform. In accordance with certain merchant account agreements 15% of cash receipts up to a certain maximum amount are withheld for a period of 6 to 12 months to ensure the Company’s creditworthiness. After such period these withholdings are to be deposited in the Company’s bank accounts and become usable. Accordingly, as of June 30, 2015 and 2014, the Company has classified these merchant account reserve balances as restricted cash, totaling $92,503 and $73,563, of which $23,479 is a current asset and $69,024 is a long-term asset ($73,563 and $0 at June 30, 2014), based on the nature of the restrictions. INTANGIBLE ASSETS Identifiable intangible assets have been capitalized as per ASC 350-35 “General Intangibles Other than Goodwill.” REVENUE RECOGNITION The Company recognizes revenue under ASC 605 “Revenue Recognition.” 6/30/2015 6/30/2014 Gross revenue $ 2,351,753 $ 1,850,959 Cost of revenue 1,572,376 1,178,101 Net revenue $ 779,377 $ 672,858 INCOME TAXES The Company accounts for income taxes under FASB ASC 740 "Income Taxes." FAIR VALUE OF FINANCIAL INSTRUMENTS The Company's financial instruments as defined by FASB ASC 825-10-50 include cash, trade accounts receivable, and accounts payable and accrued expenses. All instruments are accounted for on a historical cost basis, which, due to the short maturity of these financial instruments, approximates fair value at June 30, 2015 and June 30, 2014. FASB ASC 820 defines fair value, establishes a framework for measuring fair value in accordance with generally accepted accounting principles, and expands disclosures about fair value measurements. FASB ASC 820 establishes a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value as follows: Level 1. Observable inputs such as quoted prices in active markets; Level 2. Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and Level 3. Unobservable inputs in which there is little or no market data, which requires the reporting entity to develop its own assumptions. The Company does not have any assets or liabilities measured at fair value on a recurring basis at June 30, 2015 and June 30, 2014. The Company did not have any fair value adjustments for assets and liabilities measured at fair value on a nonrecurring basis at June 30, 2015 and June 30, 2014. SHARE BASED EXPENSES FASB ASC 718 "Compensation - Stock Compensation" The Company should determine if a present obligation to settle the share-based payment transaction in cash or other assets exists. A present obligation to settle in cash or other assets exists if: ( a b The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of FASB ASC 505-50 "Equity - Based Payments to Non-Employees." a b NET INCOME OR (LOSS) PER SHARE OF COMMON STOCK The Company has adopted ASC 260 “Earnings per Share,” The Company has no potentially dilutive securities, such as options or warrants, currently issued and outstanding. CONCENTRATIONS OF CREDIT RISK The Company’s financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and cash equivalents and related party payables it will likely incur in the near future. The Company places its cash and cash equivalents with financial institutions of high credit worthiness. At times, its cash and cash equivalents with a particular financial institution may exceed any applicable government insurance limits. The Company’s management plans to assess the financial strength and credit worthiness of any parties to which it extends funds, and as such, it believes that any associated credit risk exposures are limited. RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS Management believes recently issued accounting pronouncements will have no impact on the financial statements of Car Monkeys Group.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	12 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Note 3 - STOCKHOLDERS' EQUIT	AUTHORIZED STOCK The Company has authorized 100,000,000 of common shares with a par value of $0.001 per share. Each share entitles the holder to one vote, in person or proxy, on any matter on which action of the shareholder of the Company is sought. The Company has also authorized 10,000,000 of preferred shares with a par value of $0.001 per share. At June 30, 2015 and 2014, 400,000 shares of Class A preferred shares are outstanding. The preferred shares a) have a par value and liquidation value equal to that of a share of the Company’s common stock, b) rank senior to the Company’s Common stock, c) carry 25 votes per preferred share on all matters subject to vote by the Company’s shareholders, d) are entitled to same dividend as shall be declared from time to time on the common stock, and e) are convertible into one common share at the sole discretion of the holder of the preferred stock. On January 16, 2015 the Company effected a twenty for one reverse stock split, reducing outstanding common shares from 65,112,813 shares to 3,255,648 shares. Fractional shares were rounded up to the next whole share. The split is reflected retrospectively in these financial statements for all periods presented. SHARE ISSUANCES In April 2014, the Company issued 100,000 shares of common stock, par value $.001 per share as late fees to a vendor. The stock was valued at fair market value of $0.25 per share. The Company granted 400,000 stock options in the year ending June 30, 2015. See Note 9 for further details.

PROPRIETARY TECHNOLOGY ACQUISIT

PROPRIETARY TECHNOLOGY ACQUISITION/CHANGE IN CONTROL	12 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Note 4 - PROPRIETARY TECHNOLOGY ACQUISITION/CHANGE IN CONTROL	In June, 2012, the Company entered into an agreement with an individual and acquired a sole and exclusive license in and to certain proprietary technology relating to online procurement of certain goods in exchange for the issuance of 172,848 shares of common stock, par value $0.001, and 400,000 shares of preferred stock, par value $0.001, to the Company’s president and sole director. The common shares have been valued at $1.206 per share, whereas the preferred shares have been valued at $0.36182 per share. The proprietary technology has been recorded as an intangible asset totaling $353,194 as of June 30, 2012. The proprietary technology consists of internet search algorithms tailored to searching, cross referencing, and pricing used auto parts. The search algorithms enable a vast and detailed online catalog of used auto parts, which surpasses what is currently available from any other source. Together with the pricing algorithms, the technology provides the display of product information, together with a price that is both competitive and offers a good profit margin for an online retail entity utilizing the technology. This pricing model is based on availability and wholesale cost of each particular part from a trusted network of automotive recyclers nationwide. In conjunction with the year ended June 30, 2015, the Company performed an impairment loss assessment of the intangible asset and determined that the carrying amount was not impaired. The assessment considered, amongst other factors, both the current period and historical operating losses, as well as forecasted positive net cash flows to be generated by the intangible asset on a discounted basis. It was determined that the future economic benefits of the intangible asset were greater than the current carrying amount of $353,194. Accordingly the Company has determined that an impairment of the intangible asset is unnecessary as of June 30, 2015.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Note 5 - RELATED PARTY TRANSACTIONS	In August, 2013, the Company entered into an agreement with its President, wherein the Company agreed to pay a monthly compensation salary of $15,800 in exchange for services to be rendered. Furthermore, the Company entered into an agreement with its Chief Technology Officer (“CTO”) pursuant to which terms the Company agreed to pay a weekly compensation of $1,500. Compensation expense for the year ended June 30, 2015 was $189,600 for the President and $80,300 for the CTO. Compensation amounts, in addition to $5,833 in remaining amortization of the President’s prepaid compensation through August, 2013, have been recorded in executive compensation for the year ended June 30, 2014 totaling $163,833 for the President and $59,000 for the CTO. Of this amount, $16,406 and $31,946 has yet to be paid and is recorded in accounts payable – related party as of June 30, 2015 and 2014.

PROVISION FOR INCOME TAXES

PROVISION FOR INCOME TAXES	12 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Note 6 - PROVISION FOR INCOME TAXES	The Financial Accounting Standards Board (FASB) has issued FASB ASC 740-10 (Prior authoritative literature: Financial Interpretation No. 48, "Accounting for Uncertainty in Income Taxes - An Interpretation of FASB Statement No. 109 (FIN 48)). FASB ASC 740-10 clarifies the accounting for uncertainty in income taxes recognized in an enterprise's financial statements in accordance with prior literature FASB Statement No. 109, Accounting for Income Taxes. This standard requires a company to determine whether it is more likely than not that a tax position will be sustained will be sustained upon examination based upon the technical merits of the position. If the more-likely-than- not threshold is met, a company must measure the tax position to determine the amount to recognize in the financial statements. As a result of the implementation of this standard, the Company performed a review of its material tax positions in accordance with recognition and measurement standards established by FASB ASC 740-10. Deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carry-forwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax basis. 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. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. The income tax provision differs from the amount of income tax determined by applying the U.S. federal and state income tax rates of 43% to pretax income from continuing operations for the years ended June 30, 2015 and 2014 due to the following: For the Year Ended June 30, 2015 For the Year Ended June 30, 2014 Deferred tax asset: Net operating loss carryforward $ 102,561 $ 80,331 Stock-based compensation 23,000 - Valuation allowance (125,561 ) (80,331 ) Total $ - $ - The components of income tax expense are as follows: For the Year Ended June 30, 2015 For the Year Ended June 30, 2014 Current Federal Tax (Benefit) $ (20,113 ) $ 40,624 Current State Tax (Benefit) (5,324 ) 10,753 Use of NOL and Rate Difference - (51,377 ) Stock-based compensation 9,890 - Change in NOL benefit (6,683 ) 64,093 Change in valuation allowance 22,230 (64,093 ) Total $ - $ - The potential income tax benefit of these losses has been offset by a full valuation allowance. As of June 30, 2015, the Company has an unused net operating loss carry-forward balance of $238,513 that is available to offset future taxable income. This unused net operating loss carry-forward balance begins to expire in 2033. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: For the Year Ended June 30, 2015 For the Year Ended June 30, 2014 Beginning balance $ - $ - Additions based on tax positions related to current year - - Additions for tax positions of prior years - - Reductions for tax positions of prior years - - Reductions in benefit due to income tax expense - - Ending balance $ - $ - At June 30, 2015, the Company had no unrecognized tax benefits that, if recognized, would affect the effective tax rate. The Company did not have any tax positions for which it is reasonably possible that the total amount of unrecognized tax benefits will significantly increase or decrease within the next 12 months. As of June 30, 2015 and 2014, the Company had no accrued interest or penalties related to uncertain tax positions. The tax years that remain subject to examination by major taxing jurisdictions are those since June 23, 2010 (Inception) through the year ended June 30, 2015.

GOING CONCERN AND LIQUIDITY CON

GOING CONCERN AND LIQUIDITY CONSIDERATIONS	12 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Note 7 - GOING CONCERN AND LIQUIDITY CONSIDERATIONS	The accompanying financial statements have been prepared assuming that 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. As of June 30, 2015 and 2014, the Company has an accumulated deficit of $374,143 and $314,987, respectively. The Company intends to fund operations through equity financing arrangements, which may be insufficient to fund its capital expenditures, working capital and other cash requirements for the next twelve months. The ability of the Company to continue in existence is dependent upon, among other things, obtaining additional financing to continue operations, develop, patent and market its technology. In response to these problems, management intends to raise additional funds through public or private placement offerings. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty.

EARNINGS LOSS PER SHARE

EARNINGS LOSS PER SHARE	12 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Note 8- EARNINGS LOSS PER SHARE	The following data show the amounts used in computing earnings (loss) per share. June 30, 2015 June 30, 2014 Earnings (loss) from continuing operations $ (59,156 ) $ 94,583 Weighted average number of common shares outstanding 3,255,687 3,251,490 Fully diluted average shares outstanding including 400,000 convertible preferred shares (not included in 2015, as effect would be anti-dilutive) 3,255,687 3,651,490

STOCK OPTIONS

STOCK OPTIONS	12 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Note 9 - STOCK OPTIONS	On March 23, 2015, the Company granted 400,000 options to an individual as incentive to serve as its Chief Operating Officer. The Company recognized stock-based compensation expense of $23,000 during the year ended June 30, 2015. At June 30, 2015 unrecognized compensation expense related to stock options is $97,000 and is expected to be recognized in future periods. The Company accounts for share-based payments pursuant to ASC 718 “Stock Compensation” and records compensation expense for share-based awards based upon an assessment of the grant date fair value for stock options using the Black-Sholes option pricing model which requires management to make assumptions regarding projected stock option exercise behavior, risk-free interest rates, volatility of the Company’s stock price and expected dividends. The following assumptions were used: Expected life 5 years Risk free interest rate 1.41% Volatility 301.47% Dividend yield 0.00% The options vest as follows: 100,000 on March 31, 2015, 100,000 on August 23, 2015, 100,000 on March 23, 2016 and 100,000 on August 23, 2016. Each share has an exercise price of $.10 per share. As an alternative method of exercise, provided that at the time of exercise the Company’s common stock is publicly traded with an average daily trading volume of 50,000 shares and closing prices quoted daily for at least the past thirty trading days, and provided further, that the exercise hereof (a “Net Exercise”) will not result in a charge to the Company’s reported earnings, payment of the exercise price per share may be made by delivery of this Option with a Net Exercise Notice. In the event of a Net Exercise, the Optionee shall exchange the Option for such number of shares underlying the Option determined by multiplying such number of shares by a fraction, the numerator of which shall be the difference between the closing price per share as of the day prior to the date the executed Net Exercise Notice and the Option are delivered to the Company and the exercise price per share, and the denominator of which shall be the closing price per share as of the day prior to the date of the executed Net Exercise Notice. At June 30, 2015 100,000 options have vested, 300,000 remain unvested. At grant date, the fair value of the options was $.23 per share.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Note 10 - SUBSEQUENT EVENTS	The Company has evaluated its subsequent events from the balance sheet date through the date of this report and determined that there are no additional events to disclose.

SIGNIFICANT ACCOUNTING POLICI18

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Jun. 30, 2015
Significant Accounting Policies Policies
USE OF ESTIMATES	The preparation of the Company’s financial statements in conformity with accounting principles generally accepted in the United States 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 amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s periodic filings with the Securities and Exchange Commission include, where applicable, disclosures of estimates, assumptions, uncertainties and markets that could affect the financial statements and future operations of the Company.
CASH AND CASH EQUIVALENTS	Cash and cash equivalents include cash in banks, money market funds, and certificates of term deposits with maturities of less than three months from inception, which are readily convertible to known amounts of cash and which, in the opinion of management, are subject to an insignificant risk of loss in value. The Company had $68,373 and $123,331 in cash and cash equivalents as of June 30, 2015 and June 30, 2014, respectively.
RESTRICTED CASH	The Company uses merchant accounts to facilitate sales realized through the Company’s proprietary online sales platform. In accordance with certain merchant account agreements 15% of cash receipts up to a certain maximum amount are withheld for a period of 6 to 12 months to ensure the Company’s creditworthiness. After such period these withholdings are to be deposited in the Company’s bank accounts and become usable. Accordingly, as of June 30, 2015 and 2014, the Company has classified these merchant account reserve balances as restricted cash, totaling $92,503 and $73,563, of which $23,479 is a current asset and $69,024 is a long-term asset ($73,563 and $0 at June 30, 2014), based on the nature of the restrictions.
INTANGIBLE ASSETS	Identifiable intangible assets have been capitalized as per ASC 350-35 “General Intangibles Other than Goodwill.”
REVENUE RECOGNITION	The Company recognizes revenue under ASC 605 “Revenue Recognition.” 6/30/2015 6/30/2014 Gross revenue $ 2,351,753 $ 1,850,959 Cost of revenue 1,572,376 1,178,101 Net revenue $ 779,377 $ 672,858
INCOME TAXES	The Company accounts for income taxes under FASB ASC 740 "Income Taxes."
FAIR VALUE OF FINANCIAL INSTRUMENTS	The Company's financial instruments as defined by FASB ASC 825-10-50 include cash, trade accounts receivable, and accounts payable and accrued expenses. All instruments are accounted for on a historical cost basis, which, due to the short maturity of these financial instruments, approximates fair value at June 30, 2015 and June 30, 2014. FASB ASC 820 defines fair value, establishes a framework for measuring fair value in accordance with generally accepted accounting principles, and expands disclosures about fair value measurements. FASB ASC 820 establishes a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value as follows: Level 1. Observable inputs such as quoted prices in active markets; Level 2. Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and Level 3. Unobservable inputs in which there is little or no market data, which requires the reporting entity to develop its own assumptions. The Company does not have any assets or liabilities measured at fair value on a recurring basis at June 30, 2015 and June 30, 2014. The Company did not have any fair value adjustments for assets and liabilities measured at fair value on a nonrecurring basis at June 30, 2015 and June 30, 2014.
SHARE BASED EXPENSES	FASB ASC 718 "Compensation - Stock Compensation" The Company should determine if a present obligation to settle the share-based payment transaction in cash or other assets exists. A present obligation to settle in cash or other assets exists if: ( a b The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of FASB ASC 505-50 "Equity - Based Payments to Non-Employees." a b
NET INCOME OR (LOSS) PER SHARE OF COMMON STOCK	The Company has adopted ASC 260 “Earnings per Share,” The Company has no potentially dilutive securities, such as options or warrants, currently issued and outstanding.
CONCENTRATIONS OF CREDIT RISK	The Company’s financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and cash equivalents and related party payables it will likely incur in the near future. The Company places its cash and cash equivalents with financial institutions of high credit worthiness. At times, its cash and cash equivalents with a particular financial institution may exceed any applicable government insurance limits. The Company’s management plans to assess the financial strength and credit worthiness of any parties to which it extends funds, and as such, it believes that any associated credit risk exposures are limited.
RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS	Management believes recently issued accounting pronouncements will have no impact on the financial statements of Car Monkeys Group.

SIGNIFICANT ACCOUNTING POLICI19

SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Jun. 30, 2015
Significant Accounting Policies Tables
Revenue Recognition	Gross and net revenue is as follows: 6/30/2015 6/30/2014 Gross revenue $ 2,351,753 $ 1,850,959 Cost of revenue 1,572,376 1,178,101 Net revenue $ 779,377 $ 672,858

PROVISION FOR INCOME TAXES (Tab

PROVISION FOR INCOME TAXES (Tables)	12 Months Ended
	Jun. 30, 2015
Provision For Income Taxes Tables
Schedule of deferred tax assets	For the Year Ended June 30, 2015 For the Year Ended June 30, 2014 Deferred tax asset: Net operating loss carryforward $ 102,561 $ 80,331 Stock-based compensation 23,000 - Valuation allowance (125,561 ) (80,331 ) Total $ - $ -
Income tax provision	For the Year Ended June 30, 2015 For the Year Ended June 30, 2014 Current Federal Tax (Benefit) $ (20,113 ) $ 40,624 Current State Tax (Benefit) (5,324 ) 10,753 Use of NOL and Rate Difference - (51,377 ) Stock-based compensation 9,890 - Change in NOL benefit (6,683 ) 64,093 Change in valuation allowance 22,230 (64,093 ) Total $ - $ -
Unrecognized tax benefits	For the Year Ended June 30, 2015 For the Year Ended June 30, 2014 Beginning balance $ - $ - Additions based on tax positions related to current year - - Additions for tax positions of prior years - - Reductions for tax positions of prior years - - Reductions in benefit due to income tax expense - - Ending balance $ - $ -

EARNINGS LOSS PER SHARE (Tables

EARNINGS LOSS PER SHARE (Tables)	12 Months Ended
	Jun. 30, 2015
Earnings Loss Per Share Tables
Earnings (loss) per share	June 30, 2015 June 30, 2014 Earnings (loss) from continuing operations $ (59,156 ) $ 94,583 Weighted average number of common shares outstanding 3,255,687 3,251,490 Fully diluted average shares outstanding including 400,000 convertible preferred shares (not included in 2015, as effect would be anti-dilutive) 3,255,687 3,651,490

ORGANIZATION (Details Narrative

ORGANIZATION (Details Narrative)	12 Months Ended
	Jun. 30, 2015
Organization Details Narrative
Company incorporated date	Jun. 23, 2010
Company incorporated state	State of Nevada

SIGNIFICANT ACCOUNTING POLICI23

SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Significant Accounting Policies Details
Gross revenue	$ 2,351,753	$ 1,850,959
Cost of revenue	1,572,376	1,178,101
Net revenue	$ 779,377	$ 672,858

SIGNIFICANT ACCOUNTING POLICI24

SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	Jun. 30, 2015	Jun. 30, 2014
Significant Accounting Policies Details Narrative
Cash and cash equivalents	$ 68,373	$ 123,331
Restricted cash current asset	23,479	$ 73,563
Restricted cash long-term asset	69,024
Total Restricted cash	$ 92,503	$ 73,563

STOCKHOLDERS' EQUITY (Details N

STOCKHOLDERS' EQUITY (Details Narrative) - $ / shares	Jun. 30, 2015	Jun. 30, 2014
Stockholders Equity Details Narrative
Common stock, par value	$ 0.001	$ 0.001
Common stock, authorized	100,000,000	100,000,000
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, authorized	10,000,000	10,000,000
Class A preferred shares, outstanding	400,000	400,000

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Accounts payable - related party	$ 16,406	$ 31,946
President [Member]
Compensation expense	189,600	163,833
CTO [Member]
Compensation expense	$ 80,300	$ 59,000

PROVISION FOR INCOME TAXES (Det

PROVISION FOR INCOME TAXES (Details) - USD ($)	Jun. 30, 2015	Jun. 30, 2014
Deferred tax asset
Net operating loss carryforward	$ 102,561	$ 80,331
Stock-based compensation	23,000
Valuation allowance	$ (125,561)	$ (80,331)
Total

PROVISION FOR INCOME TAXES (D28

PROVISION FOR INCOME TAXES (Details 1) - USD ($)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Provision For Income Taxes Details 1
Current Federal Tax (Benefit)	$ (20,113)	$ 40,624
Current State Tax (Benefit)	$ (5,324)	10,753
Use of NOL and Rate Difference		$ (51,377)
Stock-based compensation	$ 9,890
Change in NOL benefit	(6,683)	$ 64,093
Change in valuation allowance	$ 22,230	$ (64,093)
Total

PROVISION FOR INCOME TAXES (D29

PROVISION FOR INCOME TAXES (Details 2) - USD ($)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Provision For Income Taxes Details 2
Beginning balance
Additions based on tax positions related to current year
Additions for tax positions of prior years
Reductions for tax positions of prior years
Reductions in benefit due to income tax expense
Ending balance

PROVISION FOR INCOME TAXES (D30

PROVISION FOR INCOME TAXES (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Provision For Income Taxes Details Narrative
Operating loss carry forwards	$ 238,513
Operating loss carry forwards expiration year	2,033
U.S. federal and state income tax rates	43.00%	43.00%

GOING CONCERN AND LIQUIDITY C31

GOING CONCERN AND LIQUIDITY CONSIDERATIONS (Details Narrative) - USD ($)	Jun. 30, 2015	Jun. 30, 2014
Going Concern And Liquidity Considerations Details Narrative
Accumulated deficit	$ (374,143)	$ (314,987)

EARNINGS LOSS PER SHARE (Detail

EARNINGS LOSS PER SHARE (Details) - USD ($)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Earnings Loss Per Share Details
Earnings (loss) from continuing operations	$ (59,156)	$ 94,583
Weighted average number of common shares outstanding	3,255,687	3,251,490
Fully diluted average shares outstanding including 400,000 convertible preferred shares (not included in 2015, as effect would be anti-dilutive)	3,255,687	3,651,490

STOCK OPTIONS (Details Narrativ

STOCK OPTIONS (Details Narrative)	12 Months Ended
	Jun. 30, 2015USD ($)
Stock Options Details Narrative
Recognized stock-based compensation expense	$ 23,000
Unrecognized stock-based compensation expense	$ 97,000
Expected life	5 years
Risk free interest rate	1.41%
Volatility	301.47%
Dividend yield	0.00%
Stock options vested	$ 100,000
Stock options unvested	$ 300,000