NOTE 1 - Origination and Basis of Presentation | The Company (formerly WNS Studios, Inc) was incorporated on May 15, 2009 under the laws of the State of Nevada. On August 18, 2015 the Company consummated the merger of WNS Studios, Inc with its newly formed and wholly-owned subsidiary Watermark Group, Inc, a Nevada corporation. As a result of the merger, the name of the issuer was changed from WNS Studios, Inc to Watermark Group, Inc. The Company has not yet generated revenues from planned principal operations. The Company intends to promote, sell and distribute films for studios. There is no assurance, however, that the Company will achieve its objectives or goals. In the opinion of the Company's management, the accompanying unaudited condensed financial statements contain all adjustments (consisting of only normal recurring adjustments) necessary to present fairly the information set forth therein. These financial statements are condensed and therefore do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. These condensed financial statements should be read in conjunction with the Company's April 30, 2015 audited financial statements and notes on Form 10-K filed on July 10, 2015. Results of operations for interim periods are not necessarily indicative of the results of operations for a full year. The Company has not commenced planned principal operations. The Company has no revenues and incurred a net loss of $42,479 and $28,119 for the nine months ended January 31, 2016 and 2015, respectively. In addition, the Company had a working capital deficiency of $21,370 and stockholders' deficiency of $161,228 at January 31, 2016. These factors raise substantial doubt about the Company's ability to continue as a going concern. There can be no assurance that sufficient funds required during the next year or thereafter will be generated from operations or that funds will be available from external sources such as debt or equity financings or other potential sources. The lack of additional capital resulting from the inability to generate cash flow from operations or to raise capital from external sources would force the Company to substantially curtail or cease operations and would, therefore, have a material adverse effect on its business. Furthermore, there can be no assurance that any such required funds, if available, will be available on attractive terms or that they will not have a significant dilutive effect on the Company's existing stockholders. The accompanying financial statements do not include any adjustments related to the recoverability or classification of asset-carrying amounts or the amounts and classification of liabilities that may result should the Company be unable to continue as a going concern. Certain reclassifications have been made to prior-year comparative financial statements to conform to the current year presentation. These reclassifications had no effect on previously reported results of operations or financial position. The Company is attempting to address its lack of liquidity by raising additional funds, either in the form of debt or equity or some combination thereof. On November 1, 2011, the Company began borrowing funds from P&G Holdings LLC., an entity of which Moses Gross, the Company's CEO, has a 33% ownership interest under the terms of a note whereby the borrowing cannot exceed $250,000. As of January 31, 2016 the Company had an outstanding balance of $121,726 (see Note 2). The Company borrowed $43,252 on this note for the nine months ended January 31, 2016. |