Kun Peng International (KPEA) 10-Q 9 Feb 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Dec. 31, 2014	Feb. 09, 2015
Document And Entity Information
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Dec-14
Entity Registrant Name	mLight Tech, Inc.
Entity Central Index Key	1502557
Current Fiscal Year End Date	-21
Is Entity a Voluntary Filer?	No
Is Entity a Well-known Seasoned Issuer?	No
Is Entity's Reporting Status Current?	Yes
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		206,500,000

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Dec. 31, 2014	Sep. 30, 2014
Current assets
Cash and cash equivalents	$30,748	$22,188
Accounts receivable	98,977	70,277
Prepaid expense	1,749
Total current assets	131,474	92,465
Property and equipment, net	5,766	6,513
Security deposit	6,270	6,270
Total Assets	143,510	105,248
Current liabilities
Accounts payable	43,888	49,705
Accrued expenses	40,002	35,930
Accrued interest	69,910	66,585
Refundable deposits		9,300
Deferred revenue	95,000
Payable to officer	500	500
Purchase commitments	373,771	375,943
Note payable	133,000	133,000
Total current liabilities	756,071	670,963
Total liabilities	756,071	670,963
Commitments and contingencies (Note 5)
Common stock, $0.0001 par value, 300,000,000 shares authorized; 206,500,000 shares issued and outstanding at December 31, 2014 and September 30, 2014, respectively	20,650	20,650
Accumulated deficit	-633,211
Total stockholders' equity (deficit)	-612,561	-565,715
Total Liabilities and Stockholders' Equity (Deficit)	$143,510	$105,248

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2014	Sep. 30, 2014
Stockholders' deficit
Common Stock, shares authorized	300,000,000	300,000,000
Common Stock, par value per share	$0.00	$0.00
Common Stock, shares issued	206,500,000	206,500,000
Common Stock, shares outstanding	206,500,000	206,500,000

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (Unaudited) (USD $)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Revenues
Licensing fees	$15,000	$60,000
Tuition	315,522	160,596
Total Revenues	330,522	220,596
Cost of sales	210,804	104,518
Gross profit	119,718	116,078
Operating expenses
Selling, General and administrative	162,242	144,204
Depreciation and amortization	747	379
Total operating expenses	162,989	144,583
Loss from continuing operations	-43,271	-28,505
Other income (expenses)
Interest expense	-3,325	-3,814
Total Other income (expenses)	-3,325	-3,814
Loss from continuing operations before income tax	-46,596	-32,321
Provision for Income Taxes	250
Net Loss	($46,846)	($32,321)
Basis and diluted net income (loss) per share	$0	$0
Weighted average number of common shares outstanding	206,500,000	205,657,609

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities
Net loss	($46,846)	($32,321)
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	747	379
Bad debts	4,450
Changes in operating assets and liabilities
Accounts receivable	-33,150	12,248
Prepaid expense	-1,749
Bank overdraft		-3,499
Accounts payable	-5,817	31,370
Accrued expenses	4,072	-359
Accrued interest	3,325	-286
Deferred revenue	95,000
Refundable deposits	-9,300	3,900
Purchase commitments	-2,172
Net cash provided by operating activities	8,560	11,432
Cash flows from investing activities
Acquisition of property and equipment		-955
Net cash used in investing activities		-955
Cash flows from financing activities
Repayment of note payable		-10,567
Cash received from officer		10,022
Net cash used in financing activities		-545
Net increase in cash and cash equivalents	8,560	9,932
Cash and cash equivalents at the beginning of period	22,188
Cash and cash equivalents at the end of period	30,748	9,932
Supplemental disclosures of cash flows information:
Cash paid for income taxes
Cash paid for interest		4,100
Supplemental disclosures of non-cash investing and financing activities:
Settlement of debt against accounts receivable		25,000
Recapitalization from acquisition		$15,650

Nature_of_Operations_and_Going

Nature of Operations and Going Concern	3 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
NOTE 1 - Nature of Operations and Going Concern	As used herein and except as otherwise noted, the term “Company”, “it(s)”, “our”, “us”, “we” and “mLight” shall mean mLight Tech, Inc., a Florida corporation, and its consolidated subsidiary.
	mLight Tech, Inc. was incorporated in the State of Florida on September 3, 2010, to provide software solutions that simplify the management of networked personal computers. On October 31, 2013, the Company acquired all 100% of the issued and outstanding capital stock of the Ding King Training Institute, Inc. (“DKTI”), a California corporation, in exchange for 2,500,000 shares of its common stock. As a result of DKTI’s acquisition, DKTI became a wholly-owned subsidiary of the Company. DKTI is the acquirer for financial reporting purposes and mLight is the acquired company. The merger was accounted for as a recapitalization. Consequently, the assets and liabilities and the operations that are reflected in the historical financial statements prior to the merger are those of DKTI, and are recorded at the historical cost basis of DKTI. Subsequent to the merger, the operations of mLight are consolidated with the operations of DKTI. The Company elected to retain September 30 to be its fiscal year end. The share amounts for mLight Tech, Inc. have been presented to reflect equity as if the merger had occurred as of the first period presented.
	The principal business of DKTI is training individuals for a career as a technician in the Automotive Appearance Industry, which includes paintless dent repair, interior restoration, windshield repair, window detailing, odor removal, auto detailing and alloy wheel repair. The individual students are normally employees of auto body shops, car dealers and entrepreneurs looking to start their own businesses.
	The financial information presented in these notes to the Company’s consolidated financial statements is for the three months ended December 31, 2014 and 2013, respectively, and are unaudited.
	As shown in the accompanying consolidated financial statements, the Company has faced significant liquidity shortages. As of December 31, 2014, the Company’s total liabilities exceeded its total assets by $612,561. The Company has incurred a net loss of $46,846 for the three months ended December 31, 2014 and has an accumulated deficit of $633,211as of December 31, 2014. The Company has had difficulty raising capital or obtaining trade credit from vendors. Additionally, the Company has been unable to satisfy its purchase commitments to vendors. These factors raise a substantial doubt about the Company’s ability to continue as a going concern. If the Company is unable to obtain adequate capital through borrowings or sale of its common stock, it could be forced to cease operations. Because the Company has no contractual commitments with respect to any of these initiatives, there can be no assurance that additional funds for operations will be available on commercially reasonable terms or in the necessary amounts. On October 31, 2013, the Company acquired mLight and believes this transaction will provide an improved capital raising opportunity to initiate expansion opportunities and increase advertising capabilities. Management currently plans to further expand its operations geographically to continue its revenue and profit growth. Management has negotiated an extension for its note payable obligations to provide additional time to realize its expansion plans and/or raise additional capital. The consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	3 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
NOTE 2 - Summary of Significant Accounting Policies	The following summary of significant accounting policies is presented to assist in the understanding of the Company’s consolidated financial statements. The consolidated financial statements and notes are the representation of the Company’s management who is responsible for their fair presentation. The consolidated financial statements of the Company conform to accounting principles generally accepted in the United States of America (U.S. GAAP).
	Principles of Consolidation
	The accompanying consolidated financial statements include the accounts of the mLight and its wholly-owned subsidiary Ding King Training Institute, Inc. All intercompany balances and transactions are eliminated in consolidation.
	Use of Estimates
	The preparation of consolidated financial statements in conformity with U.S. GAAP 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 consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.
	Cash and Cash Equivalents
	The Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents.
	Accounts Receivable
	Accounts receivable represent income earned from licensing revenue from a previously affiliated entity (Note 7) and training provided to students for which the Company has not yet received payment. Payment plans are offered to students to pay off remaining tuition on an installment basis over periods not to exceed one year. Accounts receivable are recorded at the invoiced amount and stated at the amount management expect to collect from balances outstanding at period-end. The Company estimates the allowance for doubtful accounts based on an analysis of specific accounts and an assessment of the customer’s ability to pay. The Company recorded bad debt expense of $4,450 and $0 for the three months ended December 31, 2014 and 2013, respectively, and believes all current receivables at December 31, 2014 are collectible.
	Property and Equipment
	Property and equipment are stated at cost. Depreciation of property and equipment is calculated based on the straight-line method over the estimated useful lives of the related assets as summarized below. Major renewals and betterments are capitalized while maintenance costs are expensed as incurred. Depreciation and amortization expense for the three months ended December 31, 2014 and 2013 was $747 and $379, respectively.
	Machinery and equipment	3 - 5 years
	Office equipment and equipment	5 years
	Fair value of Financial Instruments and Fair Value Measurements
	ASC 820, “Fair Value Measurements and Disclosures”, requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value:
	Level 1
	Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.
	Level 2
	Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.
	Level 3
	Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.
	The Company’s financial instruments consist principally of cash, accounts receivable, accounts payable, accrued liabilities, and short term loans. Pursuant to ASC 820 and ASC 825, “Financial Instruments”, the fair value of our cash equivalents is determined based on “Level 1” inputs, which consist of quoted prices in active markets for identical assets. The Company believes that the recorded values of all of the other financial instruments approximate their current fair values because of their nature and respective maturity dates or durations. The Company had no financial assets or liabilities carried and measured on a non-recurring basis during the reporting periods. Financial assets and liabilities measured on a recurring basis are those that are adjusted to fair value each time a financial statement is prepared.
	Revenue Recognition
	The Company’s tuition packages vary in price according to the different types of training programs purchased by the students. Upon commencement of the courses, the Company recognizes as revenue any deposits previously received, as they are non-refundable upon commencement of the courses. The remaining tuition from the student or the student’s employer, which is received upon the commencement of the course or extended credit over a period of one to three months, is recognized as revenue upon the completion of the training courses, the duration of which is one to two weeks.
	The Company’s revenue recognition policy is based on the revenue recognition criteria established under the SEC’s Staff Accounting Bulletin No. 104. The criteria and how the Company satisfies each element are as follows: (1) persuasive evidence of an arrangement - the Company and the student or the student’s employer (the customer) enters into a signed contract with the Company; (2) delivery has occurred - as noted above, upon the commencement of the course, the deposit is non-refundable per the terms of the signed contract and upon completion of the course, the Company has provided all services to be delivered to the student under the contract; (3) the price is fixed and determinable - the signed contract indicates a fixed dollar amount for the tuition for the courses enrolled by the student; (4) collectability is reasonable assured - the Company receives as payment a deposit and the balance of the tuition before the course is completed, or credit is extended for installment payments, as evidenced by promissory note not to exceed one year.
	The Company also receives licensing revenue by granting an exclusive license to sell Dent Tools Direct, USA Inc. (“Dent Tools”) merchandise online under the Ding King name and logo on the DKTI website (Note 7). Management has recognized revenue for this transaction as the Company has satisfied its conditions for recognition of revenues and believes collectability is reasonably assured given the current rate of collections and additional collections subsequent to the period end. Through December 31, 2014, all amounts under the license agreement have been collected.
	Income Taxes
	The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, Income Taxes. The asset and liability method provides that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax basis of assets and liabilities, and for operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. The Company follows the provisions of ASC 740-10, “Accounting for Uncertain Income Tax Positions.” When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. In accordance with the guidance of ASC 740-10, the benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above should be reflected as a liability for unrecognized tax benefits in the accompanying consolidated balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination.
	Earnings (Loss) Per Common Share
	The Company computes net earnings (loss) per share in accordance with ASC 260, “Earnings per Share”. ASC 260 requires presentation of both basic and diluted net earnings per share (“EPS”) on the face of the income statement. Basic EPS is computed by dividing earnings (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. For the three months period ended December 31, 2014 and 2013, there were no potentially dilutive common shares outstanding during the period.
	Recent Accounting Pronouncements
	The Company has implemented all new accounting pronouncements that are in effect and that may impact its consolidated financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

Payroll_Taxes

Payroll Taxes	3 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
NOTE 3 - Payroll Taxes	The Company has accrued for payroll taxes for the period ended December 31, 2014, however, these and prior amounts have not been remitted to the appropriate taxing authorities and are delinquent. The outstanding balance as of December 31, 2014 was $34,271 and $29,750 as of September 30, 2014, respectively. Management intends to pay this obligation as soon as sufficient funds become available. The Company may be liable for penalties, including interest for the delinquent taxes, therefore, the Company has recorded an additional accrual for approximately 10% of the outstanding balance.

Notes_Payable

Notes Payable	3 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
NOTE 4 - Notes Payable
		31-Dec-14			30-Sep-14
		(Unaudited)
	Notes payable consist of:
	Note payable to individual, unsecured, 10% interest, due March 31, 2017	$	50,000	$		50,000
	Note payable to individual, unsecured, 10% interest, due March 31, 2017		68,000			68,000
	Note payable to individual, unsecured, 10% interest, due March 31, 2017		15,000			15,000
	Total notes payable – current portion	$	133,000		$	133,000
	The Company has recorded interest expense of $3,325 and $3,814 for the three months ended December 31, 2014 and 2013, respectively.
	On January 9, 2015, the Company and the individual debt holder of the Company’s promissory notes totaling $133,000 that were due in March 2015, agreed mutually to extend the payment due date of the three promissory notes to March 31, 2017.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
NOTE 5 - Commitments and Contingencies	Operating Lease
	The Company leases real property under an operating lease which commenced on August 1, 2014 for a term of thirty-six (36) months and expires on July 31, 2017. During the lease term, the Company shall pay an initial monthly base rent of $1,843 plus its share of monthly direct expense charge of $566 for a total initial monthly rent of $2,409 for a period of twelve (12) months. The monthly base rent will increase to $1,899 commencing August 1, 2015 and continuing through July 31, 2016, and to $1,956 commencing August 1, 2016 and continuing through July 31, 2017, respectively. The monthly direct expense charge is subject to adjustment pursuant to the terms of the lease.
	The total rent expense including common area maintenance charges was $7,229 and $6,479 for the three months ended December 31, 2014 and 2013, respectively. The minimum future payments for the leases are summarized below:
	For the year ending September 30:	Payments
	2015	$	21,797
	2016		29,693
	2017		25,219
	Total	$	76,709
	Legal Matters
	From time to time the Company may become a party to litigation matters involving claims against the Company. Management believes that there are no current matters that would have a material effect on the Company’s financial position or results of operations.

Purchase_Commitments

Purchase Commitments	3 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
NOTE 6 - Purchase Commitments	The Company received $430,000 in advances from a manufacturer and a distributor for anticipated rebates from purchases of paint and related products. In exchange for the advanced funds, the Company agreed to exclusively purchase paint and related products from the manufacturer and the distributor over a five and seven year period commencing in 2007 up to a certain dollar volume amount (the “Rebate Agreement(s)”). The Company initially recorded the amount of the advances as a liability on the balance sheet under “Purchase commitments”. Based on the volume of products purchased by the Company, this liability is reduced on a pro-rata basis. The Company has not purchased the volume of products at the rate anticipated in the Rebate Agreements. Based on the amount of products purchased to date by the Company, the remaining amount of the rebates advanced is $373,771 and $375,943 as of December 31, 2014 and September 30, 2014, respectively.
	The total dollar amount of products the Company is required to buy under the Rebate Agreement from the distributor was $4,200,000. The Company’s original distributor ceased operations and sold its business to the Company’s current distributor, and management believes the Rebate Agreement was assigned to the current distributor. The Rebate Agreement with the distributor expired in November 2012. Management is still operating under the same contractual terms of the agreement as if it is still effective. The Company has previously made an effort to contact the current distributor regarding its purchase commitments. Management anticipates they will be able to successfully negotiate a revised agreement to fulfill the purchase commitment or obtain a concession from the distributor as the Company is currently purchasing products in the ordinary course of business. In the event the Company cannot negotiate a satisfactory agreement, other vendors exist in the market to purchase these products and management believes there would be no significant impact on the Company’s operations. If the Company is unable to negotiate an extension or concessions to repay the obligation, the Company may incur legal costs of litigation for breach of contract.
	The total dollar amount of products the Company is required to buy under the Rebate Agreement from the manufacturer was $1,780,000. The contract with the manufacturer expired in November 2014. Management is still operating under the same contractual terms of the agreement as if it is still effective. The Company has previously made an effort to contact the current manufacturer regarding its purchase commitments. If the Company cannot fulfill the purchase obligation, management anticipates they will be able to negotiate a time extension to fulfill the purchase commitment. If the Company is unable to negotiate extensions or concessions to repay the obligation, the Company may incur legal costs of litigation for breach of contract.

Related_Party_Transactions

Related Party Transactions	3 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
NOTE 7 - Related Party Transactions	Transactions with the Shareholder
	The principal shareholder/officer of the Company utilizes the Company’s banking function for personal expenses. Cash advances received by the principal shareholder/officer and payment of his personal expenses by the Company have been recorded as compensation to officer. The Company has recorded $41,102 and $18,232 as compensation expense for the three months ended December 31, 2014 and 2013, respectively. In addition, the same officer provided a short-term advance to the Company in the amount of $500 as of December 31, 2014 towards the working capital requirements.
	Purchases and Advances from Affiliated Entity
	The Company purchases its paintless repair tools from Dent Tools, a previously affiliated entity through common ownership. On January 17, 2014, the principal shareholder of the Company divested his ownership interest in Dent Tools for $1 consideration. For the three months ended December 31, 2014 and 2013, the Company purchased $96,202 and $23,535 of tools from Dent Tools, of which no amounts were outstanding as payables at December 31, 2014 and September 30, 2014, respectively.
	On January 4, 2013, DKTI entered into a licensing agreement with Dent Tools whereby, DKTI granted an exclusive license to Dent Tools to sell Dent Tools merchandise online under the Ding King name and logo on the DKTI website. Dent Tools agreed to pay DKTI a royalty of $300,000 over a 24 month period. The payment terms agreed for licensing were a monthly payment of $20,000 for the calendar year 2013 for a total of $240,000, and the remaining balance of $60,000 to be paid at the monthly amount of $5,000 over the next twelve months. The Company recorded $15,000 and $60,000 in licensing revenues for the three months ended December 31, 2014 and 2013, respectively. In addition, Dent Tools agreed to settle on behalf of DKTI a note payable to an individual in the amount of $25,000 in lieu of payment towards the licensing fee during the year ended September 30, 2014. The Company recorded a receivable for licensing income of $0 and $0 December 31, 2014 and September 30, 2014, respectively.
	On September 15, 2014, DKTI and Dent Tools renewed their licensing agreement whereby Dent Tools agreed to pay cash or sell product in advance $95,000 in licensing fees for the twelve months period starting January 1, 2015 to December 31, 2015. The Company has recorded $95,000 as deferred revenue as of December 31, 2014, and has received the licensing fee of $95,000 as of December 31, 2014, $13,798 in cash and paid $81,202 in settlement for purchase of tools and accessories from Dent Tools.

Stockholders_Equity

Stockholdersb Equity	3 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
NOTE 8 - Stockholders' Equity	The Company’s capitalization at December 31, 2014 was 300,000,000 authorized common shares with a par value of $0.0001 per share.
	On February 8, 2013, mLight’s board of directors authorized a 20 for 1 forward split. The record date of the split was February 26, 2013 and the effective date was February 27, 2013. After the split, the total issued and outstanding shares were 204,000,000. All prior period shares and per share calculations in these financial statements and elsewhere in this report have been retroactively adjusted to reflect this stock split.
	On August 1, 2013, in a private transaction, Todd Sudeck, the sole director and officer of the Company, acquired a total of 180,000,000 shares of the Company’s common stock from Edward Sanders, the Company’s former director and officer and principal shareholder. Mr. Sudeck’s 180,000,000 shares amount to approximately 88.24% of the Company’s currently issued and outstanding common stock.
	On October 31, 2013, the Company acquired all 100% of the issued and outstanding capital stock of the Ding King Training Institute, Inc. by issuing 2,500,000 shares of its common stock valued at $250. The acquisition is being accounted as recapitalization. At the closing of the acquisition, the Company recorded an increase in common stock of $15,400 as a result of recapitalization.
	As a result of stock issuances, the Company has 206,500,000 shares of common stock issued and outstanding at December 31, 2014 and September 30, 2014, respectively.

Subsequent_Events

Subsequent Events	3 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
NOTE 9 - Subsequent Events	Management has evaluated subsequent events through February 12, 2015, the date the financial statements were available to be issued.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Dec. 31, 2014
Summary Of Significant Accounting Policies Policies
Principles of Consolidation	The accompanying consolidated financial statements include the accounts of the mLight and its wholly-owned subsidiary Ding King Training Institute, Inc. All intercompany balances and transactions are eliminated in consolidation.
Use of Estimates	The preparation of consolidated financial statements in conformity with U.S. GAAP 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 consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.
Cash and Cash Equivalents	The Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents.
Accounts Receivable	Accounts receivable represent income earned from licensing revenue from a previously affiliated entity (Note 7) and training provided to students for which the Company has not yet received payment. Payment plans are offered to students to pay off remaining tuition on an installment basis over periods not to exceed one year. Accounts receivable are recorded at the invoiced amount and stated at the amount management expect to collect from balances outstanding at period-end. The Company estimates the allowance for doubtful accounts based on an analysis of specific accounts and an assessment of the customer’s ability to pay. The Company recorded bad debt expense of $4,450 and $0 for the three months ended December 31, 2014 and 2013, respectively, and believes all current receivables at December 31, 2014 are collectible.
Property and Equipment	Property and equipment are stated at cost. Depreciation of property and equipment is calculated based on the straight-line method over the estimated useful lives of the related assets as summarized below. Major renewals and betterments are capitalized while maintenance costs are expensed as incurred. Depreciation and amortization expense for the three months ended December 31, 2014 and 2013 was $747 and $379, respectively.
	Machinery and equipment	3 - 5 years
	Office equipment and equipment	5 years
Fair value of Financial Instruments and Fair Value Measurements	ASC 820, “Fair Value Measurements and Disclosures”, requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value:
	Level 1
	Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.
	Level 2
	Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.
	Level 3
	Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.
	The Company’s financial instruments consist principally of cash, accounts receivable, accounts payable, accrued liabilities, and short term loans. Pursuant to ASC 820 and ASC 825, “Financial Instruments”, the fair value of our cash equivalents is determined based on “Level 1” inputs, which consist of quoted prices in active markets for identical assets. The Company believes that the recorded values of all of the other financial instruments approximate their current fair values because of their nature and respective maturity dates or durations. The Company had no financial assets or liabilities carried and measured on a non-recurring basis during the reporting periods. Financial assets and liabilities measured on a recurring basis are those that are adjusted to fair value each time a financial statement is prepared.
Revenue Recognition	The Company’s tuition packages vary in price according to the different types of training programs purchased by the students. Upon commencement of the courses, the Company recognizes as revenue any deposits previously received, as they are non-refundable upon commencement of the courses. The remaining tuition from the student or the student’s employer, which is received upon the commencement of the course or extended credit over a period of one to three months, is recognized as revenue upon the completion of the training courses, the duration of which is one to two weeks.
	The Company’s revenue recognition policy is based on the revenue recognition criteria established under the SEC’s Staff Accounting Bulletin No. 104. The criteria and how the Company satisfies each element are as follows: (1) persuasive evidence of an arrangement - the Company and the student or the student’s employer (the customer) enters into a signed contract with the Company; (2) delivery has occurred - as noted above, upon the commencement of the course, the deposit is non-refundable per the terms of the signed contract and upon completion of the course, the Company has provided all services to be delivered to the student under the contract; (3) the price is fixed and determinable - the signed contract indicates a fixed dollar amount for the tuition for the courses enrolled by the student; (4) collectability is reasonable assured - the Company receives as payment a deposit and the balance of the tuition before the course is completed, or credit is extended for installment payments, as evidenced by promissory note not to exceed one year.
	The Company also receives licensing revenue by granting an exclusive license to sell Dent Tools Direct, USA Inc. (“Dent Tools”) merchandise online under the Ding King name and logo on the DKTI website (Note 7). Management has recognized revenue for this transaction as the Company has satisfied its conditions for recognition of revenues and believes collectability is reasonably assured given the current rate of collections and additional collections subsequent to the period end. Through December 31, 2014, all amounts under the license agreement have been collected.
Income Taxes	The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, Income Taxes. The asset and liability method provides that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax basis of assets and liabilities, and for operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. The Company follows the provisions of ASC 740-10, “Accounting for Uncertain Income Tax Positions.” When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. In accordance with the guidance of ASC 740-10, the benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above should be reflected as a liability for unrecognized tax benefits in the accompanying consolidated balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination.
Earnings (Loss) Per Common Share	The Company computes net earnings (loss) per share in accordance with ASC 260, “Earnings per Share”. ASC 260 requires presentation of both basic and diluted net earnings per share (“EPS”) on the face of the income statement. Basic EPS is computed by dividing earnings (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. For the three months period ended December 31, 2014 and 2013, there were no potentially dilutive common shares outstanding during the period.
Recent Accounting Pronouncements	The Company has implemented all new accounting pronouncements that are in effect and that may impact its consolidated financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Dec. 31, 2014
Summary Of Significant Accounting Policies Tables
Property and Equipment	Machinery and equipment	3 - 5 years
	Office equipment and equipment	5 years

Notes_Payable_Tables

Notes Payable (Tables)	3 Months Ended
	Dec. 31, 2014
Notes Payable Tables
Notes Payable
		31-Dec-14			30-Sep-14
		(Unaudited)
	Notes payable consist of:
	Note payable to individual, unsecured, 10% interest, due March 31, 2017	$	50,000	$		50,000
	Note payable to individual, unsecured, 10% interest, due March 31, 2017		68,000			68,000
	Note payable to individual, unsecured, 10% interest, due March 31, 2017		15,000			15,000
	Total notes payable – current portion	$	133,000		$	133,000

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	3 Months Ended
	Dec. 31, 2014
Commitments And Contingencies Tables
Future leases payments	The minimum future payments for the leases are summarized below:
	For the year ending September 30:	Payments
	2015	$	21,797
	2016		29,693
	2017		25,219
	Total	$	76,709

Nature_of_Operations_and_Going1

Nature of Operations and Going Concern (Details Narrative) (USD $)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Sep. 30, 2014
Nature Of Operations And Going Concern Details Narrative
Company incorporated date	3-Sep-10
Company incorporated state	State of Florida
Liabilities exceeded	($612,561)		($565,715)
Net Loss	-46,846	-32,321
Accumulated deficit	($633,211)

Summary_of_Significant_Account3

Summary of Significant Accounting Policies (Details)	12 Months Ended
	Sep. 30, 2014
Machinery and equipment [Member] | Minimum [Member]
Property, plant and equipment, useful life	3 years
Machinery and equipment [Member] | Maximum [Member]
Property, plant and equipment, useful life	5 years
Office equipment and equipment [Member]
Property, plant and equipment, useful life	5 years

Summary_of_Significant_Account4

Summary of Significant Accounting Policies (Details Narrative) (USD $)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Summary Of Significant Accounting Policies Details Narrative
Bad debt expense	$4,450	$0
Depreciation and amortization expense	$747	$379

Payroll_Taxes_Details_Narrativ

Payroll Taxes (Details Narrative) (USD $)	Dec. 31, 2014	Sep. 30, 2014
Payroll Taxes Details Narrative
Accrued payroll taxes	$34,271	$29,750

Notes_Payable_Details

Notes Payable (Details) (USD $)	Dec. 31, 2014	Sep. 30, 2014
Notes payable consist of:
Note payable to individual, unsecured, 10% interest, due March 31, 2017	$50,000	$50,000
Note payable to individual, unsecured, 10% interest, due March 31, 2017	68,000	68,000
Note payable to individual, unsecured, 10% interest, due March 31, 2017	15,000	15,000
Total notes payable b current portion	$133,000	$133,000

Notes_Payable_Details_Narrativ

Notes Payable (Details Narrative) (USD $)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Notes Payable Details Narrative
Interest expense	$3,325	$3,814

Commitments_and_Contingencies_1

Commitments and Contingencies (Details) (USD $)	Sep. 30, 2014
Commitments And Contingencies Details
Operating leases future minimum payment 2015	$21,797
Operating leases future minimum payment 2016	29,693
Operating leases future minimum payment 2017	25,219
Total operating leases future minimum payment	$76,709

Commitments_and_Contingencies_2

Commitments and Contingencies (Details Narrative) (USD $)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Commitments And Contingencies Details Narrative
Rent expense	$7,229	$6,479

Purchase_Commitments_Details_N

Purchase Commitments (Details Narrative) (USD $)	Dec. 31, 2014	Sep. 30, 2014
Purchase Commitments Details Narrative
Purchase commitment	$373,771	$375,943

Related_Party_Transactions_Det

Related Party Transactions (Details Narrative) (USD $)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Sep. 30, 2014
Related Party Transactions Details Narrative
Compensation expense	$41,102	$18,232
Short-term unsecured loan	500
Tools purchased	96,202	23,535
Licensing income	15,000	60,000
Receivable for licensing income	0		0
Deffered revenue	95,000
Licensing fee	95,000
Licensing fee recieved in cash	13,798
Payment in settlement for purchase of tools and accesories	$81,202

Stockholders_Equity_Details_Na

Stockholdersb Equity (Details Narrative) (USD $)	Dec. 31, 2014	Sep. 30, 2014
Stockholders Equity Details Narrative
Common Stock, shares authorized	300,000,000	300,000,000
Common Stock, par value per share	$0.00	$0.00
Common Stock, shares issued	206,500,000	206,500,000
Common Stock, shares outstanding	206,500,000	206,500,000