Ystrategies (YSTR) 10-Q 14 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 08, 2014
Document And Entity Information Abstract
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Entity Registrant Name	INDIA ECOMMERCE CORP
Entity Central Index Key	1,510,891
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,015
Entity Filer Category	Smaller Reporting Company
Entity Units Outstanding		25,477,500
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Current assets
Cash	$ 3,092	$ 19,675
Total current assets	3,092	19,675
Deposits	1,370	1,090
Property and equipment, net	2,943	3,805
Total noncurrent assets	4,313	4,895
Total assets	7,405	24,570
Current liabilities
Accounts payable and accrued liabilities	13,749	$ 12,187
Convertible note payable derivative liability	26,591
Notes payable, net of unamortized debt discount	92,556	$ 71,771
Total current liabilities	$ 132,896	83,958
Note payable - long term portion		20,311
Total liabilities	$ 132,896	104,269
Stockholders' deficit
Common stock $0.001 par value; 75,000,000 shares authorized, 25,477,500 shares issued and outstanding as of June 30, 2014 and December 31, 2013	25,478	$ 25,478
Shares to be issued	225
Additional paid-in capital	166,223	$ 129,448
Accumulated deficit during the development stage	(317,416)	(234,625)
Total stockholders' deficit	(125,490)	(79,699)
Total liabilities and stockholders' deficit	$ 7,405	$ 24,570

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Common stock, par value per share	$ 0.001	$ 0.001
Common Stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	25,477,500	25,477,500
Common Stock, shares outstanding	25,477,500	25,477,500

STATEMENTS OF OPERATIONS

STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement [Abstract]
Consulting fees	$ 8,375		$ 12,375
Total revenue	8,375		12,375
Operating expenses
General and administrative	$ 17,899	$ 7,610	37,740	$ 15,899
Stock based compensation			4,500
Depreciation	$ 431	$ 431	862	$ 861
Total operating expenses	18,330	8,041	43,102	16,760
Loss from operations	9,955	$ 8,041	30,727	$ 16,760
Other expenses
Debt discount	$ 10,677		13,962
Change in derivative liability			26,591
Interest expense	$ 1,164	$ 358	11,512	$ 665
Total other expenses	11,841	358	52,065	665
Loss for the year	$ 21,796	$ 8,399	$ 82,791	$ 17,425
Net loss per common share - basic and diluted	$ 0	$ 0	$ 0	$ 0
Weighted average common shares outstanding - basic and diluted	25,477,500	25,477,500	25,477,500	25,477,500

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net loss	$ (21,796)	$ (8,399)	$ (82,791)	$ (17,425)
Adjustments to reconcile net loss to net cash used by operating activities:
Depreciation	431	$ 431	862	$ 861
Amortization of debt discount	$ 10,677		13,962
Issuance of common stock for non-employee services			4,500
Accrued interest on notes payable	$ 1,164	$ 358	11,512	$ 665
Change in derivative liability			26,591
Changes in operating assets and liabilities:
Deposits	$ (280)		(280)
Accounts payable and accrued liabilities	(1)	$ 1,610	1,561	$ (1,914)
Net cash used by operating activities	$ (9,804)	$ (5,999)	$ (24,083)	$ (17,813)
Cash flows from investing activities:
Property and equipment acquisitions
Net cash used by investing activities
Cash flows from financing activities:
Proceeds from notes payable		$ 5,000	$ 32,500	$ 20,000
Repayment on notes payable			(25,000)	(4,500)
Net cash provided by financing activities		$ 5,000	7,500	15,500
Net change in cash	$ (9,804)	(999)	(16,583)	$ (2,313)
Cash, beginning of period		$ 12,896	19,675
Cash, end of period	$ 3,092		$ 3,092
Supplemental disclosure of cash flow information:
Interest paid
Income taxes paid
Supplemental disclosure of noncash investing and financing activities:
Issuance of common stock to acquire property and equipment
Accrued interest waived by stockholders				$ 40

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	6 Months Ended
	Jun. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS	1. DESCRIPTION OF BUSINESS India Ecommerce Corporation (the “Company”) was incorporated under the laws of the state of Nevada on January 19, 2011. The Company plans to build, promote and manage a multitude of ecommerce properties, in both website and mobile application formats, for the India market.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation Development Stage Company Year-End Use of Estimates Transfers of Nonmonetary Assets by Stockholders Cash The Company maintains cash balances at an institution that is insured by the Federal Deposit Insurance Corporation. As of June 30, 2014 and December 31, 2013 no Deposits Property and Equipment The estimated useful lives are: Furniture and fixtures 7 years Computers and office equipment 3-5 years Website Development Impairment of Long-lived Assets Revenue Recognition Although the Company will derive revenue from several sources, the current revenue is provided from consulting services. The Company will recognize revenue once pervasive evidence that an agreement exists; the product or service has been rendered; the fee is fixed and determinable based on the completion of stated terms and conditions; and collection of the amount due is reasonably assured. The Company did not recognize any revenues from January 19, 2011 (inception) through December 31, 2013, but has commenced its consulting service and has generated $12,375 of revenue through June 30, 2014. The Company must meet all of the following four criteria in order to recognize revenue: · Persuasive evidence of an arrangement exists · Delivery has occurred · The sales price is fixed or determinable · Collection is reasonably assured Fair Value of Financial Instruments · Level 1: Observable inputs such as quoted prices in active markets; · Level 2: Inputs, other than 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 require the reporting entity to develop its own assumptions. The Company’s financial instruments are accounts payable, convertible note, notes payable and derivative liability. The recorded values of accounts payable and notes payable approximate their fair values based on their short-term nature. Share-based Compensation Dividends Earnings (Loss) per Share The computation of basic and diluted loss per share for the periods presented is equivalent since the Company had continuing losses. The Company had no common stock equivalents as of June 30, 2014. Risks and Uncertainties Income Taxes Assessing whether deferred tax assets are realizable requires significant judgment. The Company considers all available positive and negative evidence, including historical operating performance and expectations of future operating performance. The ultimate realization of deferred tax assets is often dependent upon future taxable income and therefore can be uncertain. To the extent the Company believes it is more likely than not that all or some portion of the asset will not be realized, valuation allowances are established against the Company’s deferred tax assets, which increase income tax expense in the period when such a determination is made. Income taxes include the largest amount of tax benefit for an uncertain tax position that is more likely than not to be sustained upon audit based on the technical merits of the tax position. Settlements with tax authorities, the expiration of statutes of limitations for particular tax positions, or obtaining new information on particular tax positions may cause a change to the effective tax rate. The Company recognizes accrued interest and penalties related to unrecognized tax benefits in the provision for income taxes on the statements of operations. Recent Accounting Pronouncements

GOING CONCERN

GOING CONCERN	6 Months Ended
	Jun. 30, 2015
GOING CONCERN [Abstract]
GOING CONCERN	3. GOING CONCERN The Company incurred a net loss of $82,791 for the six months ended June 30, 2014 and has an accumulated loss of $317,416 since inception. The Company has not generated any revenues since inception and anticipates that it will continue to generate losses in the near future. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. These financial statements do not include adjustments relating to the recoverability and classification of reported asset amounts or the amount and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. The Company’s continuation as a going concern is dependent upon its ability to obtain additional financing or sale of its common stock and ultimately to attain profitability. Management’s plan, in this regard, is to raise additional financing through a combination of equity and debt financing. Management believes this will be sufficient to finance the continuing development for the next twelve months. However, there is no assurance that the Company will be successful in raising such financing.

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	6 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment, Net [Abstract]
PROPERTY AND EQUIPMENT	4. PROPERTY AND EQUIPMENT Property and equipment consist of the following as of March 31, 2014 and December 31, 2013: June 30, 2014 December 31, 2013 Computer and office equipment $ 8,614 $ 8,614 Accumulated depreciation (5,671 ) (4,809 ) Property and equipment, net $ 2,943 $ 3,805 Depreciation expense for the six months ended June 30, 2014 and the year ended December 31, 2013 was $862 and $1,723 respectively.

NOTES PAYABLE

NOTES PAYABLE	6 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]
NOTES PAYABLE	5. NOTES PAYABLE As of June 30, 2014 and December 31, 2013 the Company had the following notes payable: June 30, 2014 December 31, 2013 Note payable - 24% interest, unsecured and due January 2013 (1) $ 7,281 $ 6,604 Note payable - repayable on February 28, 2014 with interest of $25,000, secured (3) 50,000 65,167 57,281 71,771 Convertible note payable - 8% interest due December 5, 2014 33,301 - Unamortized debt discount on convertible note payable (18,538 ) - Total Notes Payable $ 72,044 $ 71,771 Line of credit payable - 2% interest, secured by the Company’s President and due January 1, 2015. (2) $ 20,511 $ 20,311 Total $ 92,555 $ 92,082 (1) In the event of nonpayment, by January 11, 2013, lender is entitled to receive 225,000 common shares of capital stock. Although the Company is in default, no demand has been made by the lender. The Company has recorded a subscription payable related to the 225,000 common shares as of June 30, 2014. (2) The Company may draw and repay the line of credit up to a maximum outstanding of $25,000. (3) Payment is guaranteed by the promise to issue 500,000 common shares of the Company’s common stock. Although the Company is in default, no demand has been made by the lender. (4) During the period ended March 31, 2014, the Company issued a Convertible Promissory Notes to Asher Enterprises, Inc. (“Asher”) in the amount of $32,500. The note bears interest at a rate of 8% per annum, is unsecured and matures on December 5, 2014. The Note is convertible into common stock in whole or in part at a variable conversion price equal to a 45% discount to average of the lowest three trading prices for the Common Stock during the 10 trading day period ending on the latest complete trading day prior to the conversion date. The Company recorded a discount in the amount of $32,500 in connection with the initial valuation of the beneficial conversion feature of the notes to be amortized utilizing the interest method of accretion over the term of the notes. We have determined that the conversion feature of the note is not considered to be solely indexed to our own stock and is therefore not afforded equity treatment. In accordance with ASC 815, we have bifurcated the conversion feature of the notes and recorded a derivative liability. As of June 30, 2014 the value of the derivative liability was $26,591 and we recognized a loss on the derivative of $26,591 for the period ended March 31, 2014.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Jun. 30, 2014
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	6. STOCKHOLDERS’ EQUITY From January to September of 2012, the Company issued 527,500 shares of its common stock to various accredited investors pursuant to a private placement at a range of $0.02 to $0.10 per share. The gross proceeds from the issuance were $20,750. In August 2012, the Company issued 100,000 shares of its common stock to a consultant for services rendered at $0.10 per share. The value of those shares totaled $10,000. No common shares were issued during the first half of 2014 or during the year ended December 31, 2013.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2014
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	7. SUBSEQUENT EVENTS The Company has evaluated subsequent events through the date the financial statements were issued and has not identified any reportable events.

SUMMARY OF SIGNIFICANT ACCOUN13

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation
Development Stage Company	Development Stage Company
Year-End	Year-End
Use of Estimates	Use of Estimates
Transfers of Nonmonetary Assets by Stockholders	Transfers of Nonmonetary Assets by Stockholders
Cash	Cash The Company maintains cash balances at an institution that is insured by the Federal Deposit Insurance Corporation. As of June 30, 2014 and December 31, 2013 no
Deposits	Deposits
Property and Equipment	Property and Equipment The estimated useful lives are: Furniture and fixtures 7 years Computers and office equipment 3-5 years
Website Development	Website Development
Impairment of Long-Lived Assets	Impairment of Long-lived Assets
Revenue Recognition	Revenue Recognition Although the Company will derive revenue from several sources, the current revenue is provided from consulting services. The Company will recognize revenue once pervasive evidence that an agreement exists; the product or service has been rendered; the fee is fixed and determinable based on the completion of stated terms and conditions; and collection of the amount due is reasonably assured. The Company did not recognize any revenues from January 19, 2011 (inception) through December 31, 2013, but has commenced its consulting service and has generated $12,375 of revenue through June 30, 2014. The Company must meet all of the following four criteria in order to recognize revenue: · Persuasive evidence of an arrangement exists · Delivery has occurred · The sales price is fixed or determinable · Collection is reasonably assured
Fair Value of Financial Instruments	Fair Value of Financial Instruments · Level 1: Observable inputs such as quoted prices in active markets; · Level 2: Inputs, other than 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 require the reporting entity to develop its own assumptions. The Company’s financial instruments are accounts payable and notes payable. The recorded values of accounts payable and notes payable approximate their fair values based on their short-term nature.
Share-based Compensation	Share-based Compensation
Dividends	Dividends
Earnings (Loss) per Share	Earnings (Loss) per Share The computation of basic and diluted loss per share for the periods presented is equivalent since the Company had continuing losses. The Company had no common stock equivalents as of June 30, 2014.
Risks and Uncertainties	Risks and Uncertainties
Income Taxes	Income Taxes Assessing whether deferred tax assets are realizable requires significant judgment. The Company considers all available positive and negative evidence, including historical operating performance and expectations of future operating performance. The ultimate realization of deferred tax assets is often dependent upon future taxable income and therefore can be uncertain. To the extent the Company believes it is more likely than not that all or some portion of the asset will not be realized, valuation allowances are established against the Company’s deferred tax assets, which increase income tax expense in the period when such a determination is made. Income taxes include the largest amount of tax benefit for an uncertain tax position that is more likely than not to be sustained upon audit based on the technical merits of the tax position. Settlements with tax authorities, the expiration of statutes of limitations for particular tax positions, or obtaining new information on particular tax positions may cause a change to the effective tax rate. The Company recognizes accrued interest and penalties related to unrecognized tax benefits in the provision for income taxes on the statements of operations.
Recent Accounting Pronouncements	Recent Accounting Pronouncements

SUMMARY OF SIGNIFICANT ACCOUN14

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Schedule of Useful Lives	The estimated useful lives are: Furniture and fixtures 7 years Computers and office equipment 3-5 years

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	6 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment, Net [Abstract]
Schedule of Property and Equipment	June 30, 2014 December 31, 2013 Computer and office equipment $ 8,614 $ 8,614 Accumulated depreciation (5,671 ) (4,809 ) Property and equipment, net $ 2,943 $ 3,805

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Schedule of Notes Payable	As of June 30, 2014 and December 31, 2013 the Company had the following notes payable: June 30, 2014 December 31, 2013 Note payable - 24% interest, unsecured and due January 2013 (1) $ 7,281 $ 6,604 Note payable - repayable on February 28, 2014 with interest of $25,000, secured (3) 50,000 65,167 57,281 71,771 Convertible note payable - 8% interest due December 5, 2014 33,301 - Unamortized debt discount on convertible note payable (18,538 ) - Total Notes Payable $ 72,044 $ 71,771 Line of credit payable - 2% interest, secured by the Company’s President and due January 1, 2015. (2) $ 20,511 $ 20,311 Total $ 92,555 $ 92,082 (1) In the event of nonpayment, by January 11, 2013, lender is entitled to receive 225,000 common shares of capital stock. Although the Company is in default, no demand has been made by the lender. The Company has recorded a subscription payable related to the 225,000 common shares as of June 30, 2014. (2) The Company may draw and repay the line of credit up to a maximum outstanding of $25,000. (3) Payment is guaranteed by the promise to issue 500,000 common shares of the Company’s common stock. Although the Company is in default, no demand has been made by the lender. (4) During the period ended March 31, 2014, the Company issued a Convertible Promissory Notes to Asher Enterprises, Inc. (“Asher”) in the amount of $32,500.

SUMMARY OF SIGNIFICANT ACCOUN17

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Computers and Office Equipment [Member] | Maximum [Member]
Estimated useful life		5 years
Computers and Office Equipment [Member] | Minimum [Member]
Estimated useful life		3 years
Furniture and Fixtures [Member]
Estimated useful life	7 years
Website development costs, estimated useful life		3 years

GOING CONCERN (Details)

GOING CONCERN (Details) - USD ($)	3 Months Ended		6 Months Ended		41 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2014
GOING CONCERN [Abstract]
Net loss	$ (21,796)	$ (8,399)	$ (82,791)	$ (17,425)	$ 317,416

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2013	Dec. 31, 2014
Property, Plant and Equipment, Net [Abstract]
Computer and office equipment	$ 8,614		$ 8,614			$ 8,614
Accumulated depreciation	(5,671)		(5,671)			(4,809)
Property and equipment, net	2,943		2,943			$ 3,805
Depreciation	$ 431	$ 431	$ 862	$ 861	$ 1,723

NOTES PAYABLE (Details)

NOTES PAYABLE (Details) - USD ($)		Jun. 30, 2015		Dec. 31, 2014
Debt Disclosure [Abstract]
Note payable - 24% interest, unsecured and due January 2013 (1)	[1]	$ 7,281		$ 6,604
Note payable - repayable on February 28, 2014 with interest of $25,000, secured (3)		50,000	[2]	65,167	[3]
Total of Notes one and two		57,281		$ 71,771
Convertible note payable - 8% interest due December 5, 2014		33,301
Unamortized debt discount on convertible note payable		(18,538)
Total Notes Payable		72,044		$ 71,771
Line of credit payable - 2% interest, secured by the Company's President and due January 1, 2015. (2)	[2]	20,511		20,311
Total		$ 92,555		$ 92,082
[1]	In the event of nonpayment, by January 11, 2013, lender is entitled to receive 225,000 common shares of capital stock. Although the Company is in default, no demand has been made by the lender.
[2]	Payment is guaranteed by the promise to issue 500,000 common shares of the Company's common stock. Although the Company is in default, no demand has been made by the lender.
[3]	The Company may draw and repay the line of credit up to a maximum outstanding of $25,000.

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - USD ($)	1 Months Ended	9 Months Ended
	Aug. 31, 2012	Sep. 30, 2012
Stockholders' Equity Note [Abstract]
Stock issued for services, shares	100,000
Stock issued for services, price per share	$ .10
Stock issued for services, value	$ 10,000
Issuance of common stock for cash pursuant to a private placement, shares		527,500
Equity issuance, stock issued for cash pursuant to a private placement, price per share		$ .02
Issuance of common stock for cash pursuant to a private placement		$ 20,750