Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | |
Jan. 31, 2014 | Nov. 13, 2014 | |
Document And Entity Information | ' | ' |
Entity Registrant Name | 'HOMEOWNUSA | ' |
Entity Central Index Key | '0001503658 | ' |
Document Type | '10-K | ' |
Document Period End Date | 31-Jan-14 | ' |
Amendment Flag | 'false | ' |
Current Fiscal Year End Date | '--01-31 | ' |
Is Entity a Well-known Seasoned Issuer? | 'No | ' |
Is Entity a Voluntary Filer? | 'No | ' |
Is Entity's Reporting Status Current? | 'Yes | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Public Float | ' | $0 |
Entity Common Stock, Shares Outstanding | ' | 22,790 |
Document Fiscal Period Focus | 'FY | ' |
Document Fiscal Year Focus | '2014 | ' |
BALANCE_SHEETS
BALANCE SHEETS (USD $) | Jan. 31, 2014 | Jan. 31, 2013 |
CURRENT ASSETS | ' | ' |
Cash or cash equivalents | $0 | $985 |
TOTAL CURRENT ASSETS | 0 | 985 |
TOTAL ASSETS | 0 | 985 |
CURRENT LIABILITIES | ' | ' |
Accounts payable and accrued liabilities | 0 | 19,122 |
Due to related party (Note 4) | 0 | 27,500 |
TOTAL CURRENT LIABILITIES | 0 | 46,622 |
TOTAL LIABILITIES | 0 | 46,622 |
STOCKHOLDERS' EQUITY (DEFICIT) | ' | ' |
Capital stock (note 3), authorized 75,000,000, $0.001 par value Issued and outstanding 22,790 as of and 10,000,000 shares issued and outstanding, as of December 31, 2014 and 2013, respectively | 23 | 10,000 |
Additional Paid In Capital | 77,661 | 0 |
Deficit accumulated during the development stage | -77,684 | -55,637 |
TOTAL STOCKHOLDERS' EQUITY (DEFICIT) | 0 | -45,637 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | $0 | $985 |
BALANCE_SHEETS_Parenthetical
BALANCE SHEETS (Parenthetical) (USD $) | Jan. 31, 2014 | Jan. 31, 2013 |
Balance Sheets | ' | ' |
Common stock, Authorized | 75,000,000 | 75,000,000 |
Common stock, Par Value | $0.00 | $0.00 |
Common stock, Issued | 22,790 | 10,000,000 |
Common stock, Outstanding | 22,790 | 10,000,000 |
STATEMENTS_OF_OPERATIONS
STATEMENTS OF OPERATIONS (USD $) | 12 Months Ended | |
Jan. 31, 2014 | Jan. 31, 2013 | |
Statements Of Operations | ' | ' |
Total Revenues | $0 | $0 |
Operating expenses: | ' | ' |
Bank Service Charges | 1,425 | 375 |
Financial Printing | 3,149 | 1,136 |
Consulting Services | 5,000 | 0 |
Transfer Agent | 1,312 | 0 |
Accounting/Auditing | 10,861 | 13,000 |
Legal | 300 | 1,000 |
Total operating expenses | 22,047 | 15,511 |
Loss from operations | -22,047 | -15,511 |
Loss before taxes | -22,047 | -15,511 |
Income tax provision | 0 | 0 |
Net loss applicable to common shareholders | ($22,047) | ($15,511) |
Net loss per share - basic and diluted | ($0.01) | $0 |
Weighted number of shares outstanding - Basic and diluted | 1,581,964 | 10,000,000 |
STATEMENTS_OF_STOCKHOLDERS_EQU
STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT) (USD $) | Common Stock | Paid-In Capital | Deficit Accumulated During Development Stage | Total |
Beginning Balance, Amount at Jan. 31, 2012 | $10,000 | ' | ($40,126) | ($30,126) |
Beginning Balance, Shares at Jan. 31, 2012 | 10,000,000 | ' | ' | ' |
Forgiveness of debt from shareholder | ' | ' | ' | 0 |
Net loss for period | ' | ' | -15,511 | -15,511 |
Ending Balance, Amount at Jan. 31, 2013 | 10,000 | ' | -55,637 | -45,637 |
Beginning Balance, Shares at Jan. 31, 2013 | 10,000,000 | ' | ' | ' |
Issuance of common stock, March 6, 2013, Shares | 20,534 | ' | ' | ' |
Issuance of common stock, March 6, 2013, Amount | 21 | 10,246 | ' | 10,267 |
Retirement of common stock, March 25, 2013, Shares | -9,997,744 | ' | ' | ' |
Retirement of common stock, March 25, 2013, Amount | -9,998 | 9,988 | ' | -10 |
Forgiveness of debt from shareholder | ' | 39,427 | ' | 39,427 |
Payables assumed by selling shareholder | ' | 18,000 | ' | 18,000 |
Net loss for period | ' | ' | -22,047 | -22,047 |
Ending Balance, Amount at Jan. 31, 2014 | $23 | $77,661 | ($77,684) | $0 |
Ending Balance, Shares at Jan. 31, 2014 | 22,790 | ' | ' | ' |
STATEMENTS_OF_CASH_FLOWS
STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | |
Jan. 31, 2014 | Jan. 31, 2013 | |
OPERATING ACTIVITIES | ' | ' |
Net (loss) | ($22,047) | ($15,511) |
Changes in operating assets and liabilities: | ' | ' |
Accounts payable and accrued expenses | -1,122 | 4,622 |
Net cash used in operating activities | -23,169 | -10,889 |
CASH FLOW FROM FINANCING ACTIVITIES | ' | ' |
Proceeds from issuance of common stock | 10,267 | 0 |
Redemption of common stock | -10 | 0 |
Proceeds from related parties | 11,927 | 11,500 |
Net cash provided by financing activities | 22,184 | 11,500 |
NET INCREASE (DECREASE) IN CASH | -985 | 611 |
CASH AND CASH EQUIVALENTS at beginning of period | 985 | 374 |
CASH AND CASH EQUIVALENTS at end of period | 0 | 985 |
SUPPLEMENTAL CASH FLOW INFORMATION AND NONCASH FINANCING ACTIVITIES: | ' | ' |
Cash paid during the period for Interest | 0 | 0 |
Cash paid during the period for Income taxes | 0 | 0 |
Supplemental schedule of non-cash investing and financing activities | ' | ' |
Assumption of payables by selling shareholder | 18,000 | 0 |
Forgiveness of shareholder debt | $39,427 | $0 |
1_NATURE_OF_OPERATIONS_AND_BAS
1. NATURE OF OPERATIONS AND BASIS OF PRESENTATION | 12 Months Ended |
Jan. 31, 2014 | |
Nature Of Operations And Basis Of Presentation | ' |
NOTE 1 - NATURE OF OPERATIONS AND BASIS OF PRESENTATION | ' |
HOMEOWNUSA was incorporated in the State of Nevada as a for-profit Company on December 10, 2009 and established a fiscal year end of January 31. The Company was organized to enter into the home equity lease/rent to own business. On December 31, 2013, the Company’s sole director and officer and nine other shareholders sold their interest in the Company to Cloud Biz International Pte, Ltd (“CloudBiz”), a Singapore corporation. The total number of shares purchased was 15,730 which represented a 69% interest in the Company (the “Transaction”). Along with the Transaction, the sole director and officer resigned and a new officer director was named. The Company is currently looking into potential business plan opportunities but has not yet decided on a plan. | |
Going concern | |
To date the Company has generated no revenues from its business operations and has incurred operating losses since inception of $77,684. The Company requires additional funding to meet its ongoing obligations and to fund anticipated operating losses. The ability of the Company to continue as a going concern is dependent on raising capital to fund its initial business plan and ultimately to attain profitable operations. Accordingly, these factors raise substantial doubt as to the Company’s ability to continue as a going concern. The Company intends to continue to fund its business by way of private placements and advances from related parties as may be required. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might result from this uncertainty. |
2_SUMMARY_OF_SIGNIFICANT_ACCOU
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Jan. 31, 2014 | |
Summary Of Significant Accounting Policies | ' |
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ' |
Basis of Presentation | |
The financial statements present the balance sheet, statements of operations, stockholders’ equity (deficit) and cash flows of the Company. These financial statements are presented in the United States dollars and have been prepared in accordance with accounting principles generally accepted in the United States. | |
Use of Estimates and Assumptions | |
Preparation of the financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Accordingly, actual results could differ from those estimates. | |
Cash and Cash Equivalents | |
For purposes of the statement of cash flows, the Company considers highly liquid financial instruments purchased with a maturity of three months or less to be cash equivalents. | |
Loss per Common Share | |
The basic earnings (loss) per share is calculated by dividing the Company’s net income available to common shareholders by the weighted average number of common shares during the year. The diluted earnings (loss) per share is calculated by dividing the Company’s net income (loss) available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. Diluted earnings (loss) per share are the same as basic earnings (loss) per share due to the lack of dilutive items in the Company. | |
Income Taxes | |
The Company follows the liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax balances and tax loss carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to the taxable income in the years in which those differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the date of enactment. | |
Stock-based Compensation | |
The Company follows ASC 718-10, "Stock Compensation", which addresses the accounting for transactions in which an entity exchanges its equity instruments for goods or services, with a primary focus on transactions in which an entity obtains employee services in share-based payment transactions. ASC 718-10 requires measurement of the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award (with limited exceptions). Incremental compensation costs arising from subsequent modifications of awards after the grant date must be recognized. The Company has not adopted a stock option plan and has not granted any stock options. As at January 31, 2014 the Company had not adopted a stock option plan nor had it granted any stock options. Accordingly no stock-based compensation has been recorded to date. | |
Recent Accounting Pronouncements | |
In June 2014, the Financial Accounting Standards Board issued Accounting Standards Codification update No. 2014-10 for Development stage entities (Topic 915). The amendments in this updated removed the definition of a development stage entity from the master glossary of the Accounting Standards Codification, thereby removing the financial reporting distinction between development stage entities and other reporting entities from US GAAP. In addition, the amendments eliminate the requirements for development stage entities to (1) present inception-to-date information in the statements of income, cash flows, and shareholder equity, (2) label the financial statements as those of a development stage entity, (3) disclose a description of the development stage activities in which the entity is engaged, and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage. The Company has elected to adopt such provisions this reporting period. | |
The Company has implemented all new accounting pronouncements that are in effect and that may impact its 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. | |
3_CAPITAL_STOCK
3. CAPITAL STOCK | 12 Months Ended |
Jan. 31, 2014 | |
Capital Stock | ' |
NOTE 3 - CAPITAL STOCK | ' |
The Company’s capitalization is 75,000,000 common shares with a par value of $0.001 per share. No preferred shares have been authorized or issued. | |
On March 6, 2013 the company issued 20,534 common shared at $0.50 per share to 31 new investors for total proceeds of $10,267. | |
On March 24, 2013, the sole director and President of the Company retired 9,997,744 shares of common stock for payment of $9,777.97 | |
On December 31, 2013, the sole director and president sold his remaining 2,256 to a private investor. At the same time, nine other shareholders sold 13,747 of their shares to the same investor. |
4_RELATED_PARTY_TRANSACTIONS
4. RELATED PARTY TRANSACTIONS | 12 Months Ended |
Jan. 31, 2014 | |
Related Party Transactions | ' |
NOTE 4 - RELATED PARTY TRANSACTIONS | ' |
As of January 31, 2013 and 2012, the Company had received $27,500, and 11,927, respectively, from the sole director and officer. The amounts due to the related party are unsecured and non-interest-bearing with no set terms of repayment. Along with the Transaction of December 31, 2013, the related party waived any notes due totaling $39,427. This amount has been recorded to additional paid in capital. |
5_INCOME_TAXES
5. INCOME TAXES | 12 Months Ended |
Jan. 31, 2014 | |
Income Taxes | ' |
NOTE 5 - INCOME TAXES | ' |
Income taxes are provided in accordance with ASC 740 Income Taxes. A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carry forwards. Deferred tax expense (benefit) results from the net change during the year of deferred tax asset and liabilities. | |
Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion 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 Company did not provide any current or deferred U.S. federal income tax provision or benefit for any of the periods presented because we have experienced operating losses since inception. The Company provided a full valuation allowance on the net deferred tax asset, consisting of net operating loss carry forwards, because management has determined that it is more likely than not that we will not earn income sufficient to realize the deferred tax assets during the carry forward period. |
6_SUBSEQUENT_EVENTS
6. SUBSEQUENT EVENTS | 12 Months Ended |
Jan. 31, 2014 | |
Subsequent Events [Abstract] | ' |
6. SUBSEQUENT EVENTS | ' |
On July 7, 2014 CloudBiz invested $37,000 in the Company. For such investment, CloudBiz will be issued an additional 74 million shares. | |
During October 2014, the Company issued 20,534 shares for $2,053 to 30 new shareholders. | |
2_SUMMARY_OF_SIGNIFICANT_ACCOU1
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Jan. 31, 2014 | |
Summary Of Significant Accounting Policies Policies | ' |
Basis of Presentation | ' |
The financial statements present the balance sheet, statements of operations, stockholders’ equity (deficit) and cash flows of the Company. These financial statements are presented in the United States dollars and have been prepared in accordance with accounting principles generally accepted in the United States. | |
Use of Estimates and Assumptions | ' |
Preparation of the financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Accordingly, actual results could differ from those estimates. | |
Cash and Cash Equivalents | ' |
For purposes of the statement of cash flows, the Company considers highly liquid financial instruments purchased with a maturity of three months or less to be cash equivalents. | |
Loss per Common Share | ' |
The basic earnings (loss) per share is calculated by dividing the Company’s net income available to common shareholders by the weighted average number of common shares during the year. The diluted earnings (loss) per share is calculated by dividing the Company’s net income (loss) available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. Diluted earnings (loss) per share are the same as basic earnings (loss) per share due to the lack of dilutive items in the Company. | |
Income Taxes | ' |
The Company follows the liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax balances and tax loss carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to the taxable income in the years in which those differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the date of enactment. | |
Stock-based Compensation | ' |
The Company follows ASC 718-10, "Stock Compensation", which addresses the accounting for transactions in which an entity exchanges its equity instruments for goods or services, with a primary focus on transactions in which an entity obtains employee services in share-based payment transactions. ASC 718-10 requires measurement of the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award (with limited exceptions). Incremental compensation costs arising from subsequent modifications of awards after the grant date must be recognized. The Company has not adopted a stock option plan and has not granted any stock options. As at January 31, 2014 the Company had not adopted a stock option plan nor had it granted any stock options. Accordingly no stock-based compensation has been recorded to date. | |
Recent Accounting Pronouncements | ' |
In June 2014, the Financial Accounting Standards Board issued Accounting Standards Codification update No. 2014-10 for Development stage entities (Topic 915). The amendments in this updated removed the definition of a development stage entity from the master glossary of the Accounting Standards Codification, thereby removing the financial reporting distinction between development stage entities and other reporting entities from US GAAP. In addition, the amendments eliminate the requirements for development stage entities to (1) present inception-to-date information in the statements of income, cash flows, and shareholder equity, (2) label the financial statements as those of a development stage entity, (3) disclose a description of the development stage activities in which the entity is engaged, and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage. The Company has elected to adopt such provisions this reporting period. | |
The Company has implemented all new accounting pronouncements that are in effect and that may impact its 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. |
1_NATURE_OF_OPERATIONS_AND_BAS1
1. NATURE OF OPERATIONS AND BASIS OF PRESENTATION (Details Narrative) (USD $) | 12 Months Ended | 38 Months Ended | |
Jan. 31, 2014 | Jan. 31, 2013 | Jan. 31, 2014 | |
Nature Of Operations And Basis Of Presentation Details Narrative | ' | ' | ' |
Operating Losses | ($22,047) | ($15,511) | $77,684 |
4_RELATED_PARTY_TRANSACTIONS_D
4. RELATED PARTY TRANSACTIONS (Details Narrative) (USD $) | Jan. 31, 2014 | Jan. 31, 2013 |
Related Party Transactions Details Narrative | ' | ' |
Amounts received from related party | $11,927 | $27,500 |