Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Nov. 30, 2015 | Jan. 14, 2015 | |
Document And Entity Information | ||
Entity Registrant Name | Globe Net Wireless Corp. | |
Entity Central Index Key | 1,511,820 | |
Document Type | 10-Q | |
Document Period End Date | Nov. 30, 2015 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --08-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 10,800,000 | |
Trading Symbol | GNTW | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2,016 |
Interim Balance Sheets
Interim Balance Sheets - USD ($) | Nov. 30, 2015 | Aug. 31, 2015 |
CURRENT ASSETS | ||
Cash and cash equivalents | $ 8,977 | $ 819 |
Total Assets | 8,977 | 819 |
CURRENT LIABILITIES | ||
Accounts Payable | 2,647 | 10,453 |
Accrued Liabilities | 17,694 | 15,933 |
Notes Payable - Note 5 | 30,000 | 30,000 |
Convertible Notes Payable - Note 6 | 30,000 | 10,000 |
Total Current Liabilities | 80,341 | 63,792 |
STOCKHOLDER'S DEFICIT | ||
Common Stock - Note 7 Par Value:$0.001 Authorized 200,000,000 shares Issued 10,800,000 shares | 10,800 | 10,800 |
Additional Paid in Capital | 72,106 | 72,106 |
Deficit Accumulated | (154,270) | (148,473) |
Total Stockholders' Deficit | (71,364) | (65,567) |
Total Liabilities and Stockholders' Deficit | $ 8,977 | $ 819 |
Interim Balance Sheets (Parenth
Interim Balance Sheets (Parenthetical) - $ / shares | Nov. 30, 2015 | Aug. 31, 2015 |
Statement of Financial Position [Abstract] | ||
Common Stock, par value | $ 0.001 | $ 0.001 |
Common Stock, shares authorized | 200,000,000 | 200,000,000 |
Common Stock, shares issued | 10,800,000 | 10,800,000 |
Interim Statement of Operations
Interim Statement of Operations - USD ($) | 3 Months Ended | |
Nov. 30, 2015 | Nov. 30, 2014 | |
EXPENSES | ||
General and administrative expenses | $ 4,785 | $ 1,776 |
Operating loss before interest | (4,785) | (1,776) |
Interest | (1,012) | (798) |
Net loss and comprehensive loss | $ (5,797) | $ (2,574) |
Loss per share of common stock - Basic and diluted | $ (0.001) | $ 0 |
Weighted average shares of common stock - Basic and diluted | 10,800,000 | 10,800,000 |
Interim Statement of Shareholde
Interim Statement of Shareholders' Deficit - USD ($) | Common Stock [Member] | Additional Paid-In Capital [Member] | Common Stock Subscribed [Member] | Accumulated Deficit [Member] | Total |
Balance at Aug. 31, 2013 | $ 9,500 | $ 8,406 | $ 35,000 | $ (90,099) | $ (37,193) |
Balance, shares at Aug. 31, 2013 | 9,500,000 | ||||
Sep 07, 2013, issued common stock at $0.05 per share for cash | $ 700 | 34,300 | $ (35,000) | ||
Sep 07, 2013, issued common stock at $0.05 per share for cash, shares | 700,000 | ||||
Nov 08, 2013, issued common stock At $0.05 per share for cash | $ 600 | $ 29,400 | $ 30,000 | ||
Nov 08, 2013, issued common stock At $0.05 per share for cash, shares | 600,000 | ||||
Net loss and comprehensive loss | $ (38,533) | (38,533) | |||
Balance at Aug. 31, 2014 | $ 10,800 | $ 72,106 | (128,632) | (45,726) | |
Balance, shares at Aug. 31, 2014 | 10,800,000 | ||||
Net loss and comprehensive loss | (19,841) | (19,841) | |||
Balance at Aug. 31, 2015 | $ 10,800 | $ 72,106 | (148,473) | (65,567) | |
Balance, shares at Aug. 31, 2015 | 10,800,000 | ||||
Net loss and comprehensive loss | (5,797) | (5,797) | |||
Balance at Nov. 30, 2015 | $ 10,800 | $ 72,106 | $ (154,270) | $ (71,364) | |
Balance, shares at Nov. 30, 2015 | 10,800,000 |
Interim Statement of Sharehold6
Interim Statement of Shareholders' Deficit (Parenthetical) - $ / shares | Nov. 08, 2013 | Sep. 27, 2013 | Sep. 07, 2013 |
Statement of Stockholders' Equity [Abstract] | |||
Common stock per share price | $ 0.05 | $ 0.05 | $ 0.05 |
Interim Statement of Cash Flows
Interim Statement of Cash Flows - USD ($) | 3 Months Ended | |
Nov. 30, 2015 | Nov. 30, 2014 | |
Cash Flows from (used in) Operating Activities | ||
Net Loss | $ (5,797) | $ (2,574) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities | ||
Interest on notes and convertible notes payable | 1,012 | 798 |
Increase (Decrease) in Operating Assets and Liabilities | ||
Accounts Payable | (7,807) | (2,055) |
Accrued Liabilities | 750 | (7,080) |
Net Cash used in Operating Activities | (11,842) | $ (10,911) |
Cash Flows from (used in) Financing Activities | ||
Convertible note payable | 20,000 | |
Net Cash provided by Financing Activities | 20,000 | |
Increase (Decrease) in Cash | 8,158 | $ (10,911) |
Cash at Beginning of Period | 819 | 18,066 |
Cash at End of Period | 8,977 | 7,155 |
Supplemental cash flow information | ||
Interest | $ 1,012 | $ 798 |
Taxes |
Organization and Nature of Oper
Organization and Nature of Operations | 3 Months Ended |
Nov. 30, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Nature of Operations | 1. Organization and nature of operations Globe Net Wireless Corp. (the Company) was incorporated in the State of Nevada, USA on September 4, 2009. The Company is in its early development stage since its formation and has not realized any revenues from its planned operations. The Company is engaged in the development of a telecommunication business to provide internet and related services to both consumers and businesses currently in under serviced or unserviced areas at real broadband speeds through the proprietary wireless technology it acquired. The Company has chosen an August 31 year end. |
Basis of Presentation - Going C
Basis of Presentation - Going Concern Uncertainties | 3 Months Ended |
Nov. 30, 2015 | |
Accounting Policies [Abstract] | |
Basis of Presentation - Going Concern Uncertainties | 2. Basis of Presentation - Going Concern Uncertainties These financial statements have been prepared in conformity with generally accepted accounting principles in the United States, which contemplate continuation of the Company as a going concern. However, the Company has limited operations and has sustained operating losses resulting in a deficit. The Company has accumulated a deficit of $154,270 since inception September 4, 2009, has yet to achieve profitable operations and further losses are anticipated in the development of its business. The Companys ability to continue as a going concern is in substantial doubt and is dependent upon obtaining additional financing and/or achieving a sustainable profitable level of operations. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. The Company may seek additional equity as necessary and it expects to raise funds through private or public equity investment in order to support existing operations and expand the range of its business. There is no assurance that such additional funds will be available for the Company on acceptable terms, if at all. |
Interim Reporting and Significa
Interim Reporting and Significant Accounting Policies | 3 Months Ended |
Nov. 30, 2015 | |
Accounting Policies [Abstract] | |
Interim Reporting and Significant Accounting Policies | 3. Interim reporting and significant accounting policies The interim condensed financial statements are prepared under the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. While the information presented is unaudited, it includes all adjustments, which are, in the opinion of management, necessary to present fairly the financial position, result of operation and cash flows for the interim periods presented in accordance with accounting principles generally accepted in the United States of America. All adjustments are of a normal recurring nature. It is suggested that the interim condensed financial statements be read in conjunction with the Companys August 31, 2015 annual financial statements. Operating results for the three month period ended November 30, 2015 are not necessarily indicative of the results that can be expected for the year ended August 31, 2016. There have been no changes in the accounting policies from those disclosed in the notes to the audited financial statements for the year ended August 31, 2015. |
Recently Issued Accounting Pron
Recently Issued Accounting Pronouncements | 3 Months Ended |
Nov. 30, 2015 | |
Accounting Changes and Error Corrections [Abstract] | |
Recently Issued Accounting Pronouncements | 4. Recently issued accounting pronouncements The Company adopts new pronouncements relating to generally accepted accounting principles applicable to the Company as they are issued, which may be in advance of their effective date. Management does not believe that any pronouncement not yet effective but recently issued would, if adopted, have a material effect on the accompanying financial statements. |
Notes Payable
Notes Payable | 3 Months Ended |
Nov. 30, 2015 | |
Debt Disclosure [Abstract] | |
Notes Payable | 5. Notes payable The company has four notes payable that are unsecured, bear interest at 8% per annum and are due on demand. The interest is classified as accrued liabilities for financial statement purposes. Date Principal Interest Total September 16, 2011 $ 5,000 $ 1,683 $ 6,683 October 4, 2011 5,000 1,664 6,664 November 4, 2011 10,000 3,259 13,259 December 3, 2012 10,000 2,394 12,394 Total $ 30,000 $ 8,999 $ 38,999 |
Convertible Note Payable
Convertible Note Payable | 3 Months Ended |
Nov. 30, 2015 | |
Debt Disclosure [Abstract] | |
Convertible Note Payable | 6. Convertible Note Payable There are four convertible notes payable. The notes are unsecured, bearing interest at 8% per annum which is due on demand, and convertible at a conversion price of $0.005 per share at the lenders option. The interest is classified as accrued liabilities for financial statement purposes. There was no value assigned to the conversion feature of the notes issued during the three months ended November 30, 2015 as the shares that would have been issued are not readily convertible into cash. Date Principal Interest Total May 17, 2013 $ 10,000 $ 2,032 $ 12,032 Sep 11, 2015 10,000 175 10,175 Nov 12, 2015 5,000 20 5,020 Nov 13, 2015 5,000 19 5,019 Total $ 30,000 $ 2,246 $ 32,246 |
Common Stock
Common Stock | 3 Months Ended |
Nov. 30, 2015 | |
Equity [Abstract] | |
Common Stock | 7. Common stock On September 27, 2013, the Company issued 700,000 common shares at $0.05 each for subscriptions received during the year ended August 31, 2013. On November 8, 2013, the Company issued 600,000 common shares at $0.05 each for cash. There were no warrants or stock options outstanding as of November 30, 2015. |
Notes Payable (Tables)
Notes Payable (Tables) | 3 Months Ended |
Nov. 30, 2015 | |
Debt Disclosure [Abstract] | |
Schedule of Notes Payable | Date Principal Interest Total September 16, 2011 $ 5,000 $ 1,683 $ 6,683 October 4, 2011 5,000 1,664 6,664 November 4, 2011 10,000 3,259 13,259 December 3, 2012 10,000 2,394 12,394 Total $ 30,000 $ 8,999 $ 38,999 |
Convertible Note Payable (Table
Convertible Note Payable (Tables) | 3 Months Ended |
Nov. 30, 2015 | |
Debt Disclosure [Abstract] | |
Schedule of Convertible Note Payable | Date Principal Interest Total May 17, 2013 $ 10,000 $ 2,032 $ 12,032 Sep 11, 2015 10,000 175 10,175 Nov 12, 2015 5,000 20 5,020 Nov 13, 2015 5,000 19 5,019 Total $ 30,000 $ 2,246 $ 32,246 |
Basis of Presentation - Going17
Basis of Presentation - Going Concern Uncertainties (Details Narrative) - USD ($) | Nov. 30, 2015 | Aug. 31, 2015 |
Accounting Policies [Abstract] | ||
Accumulated deficit | $ 154,270 | $ 148,473 |
Notes Payable (Details Narrativ
Notes Payable (Details Narrative) | Nov. 30, 2015 |
Debt Disclosure [Abstract] | |
Unsecured note bear interest rate | 8.00% |
Notes Payable - Schedule of Not
Notes Payable - Schedule of Notes Payable (Details) - Notes Payable [Member] - USD ($) | Dec. 03, 2012 | Nov. 04, 2011 | Oct. 04, 2011 | Sep. 16, 2011 | Nov. 30, 2015 |
Principal | $ 10,000 | $ 10,000 | $ 5,000 | $ 5,000 | $ 30,000 |
Interest | 2,394 | 3,259 | 1,664 | 1,683 | 8,999 |
Total | $ 12,394 | $ 13,259 | $ 6,664 | $ 6,683 | $ 38,999 |
Convertible Note Payable (Detai
Convertible Note Payable (Details Narrative) | Nov. 30, 2015$ / shares |
Debt Disclosure [Abstract] | |
Unsecured note bearing interest rate | 8.00% |
Convertible note payable at a conversion price per share | $ 0.005 |
Convertible Note Payable - Sche
Convertible Note Payable - Schedule of Convertible Note Payable (Details) - Convertible Note Payable [Member] - USD ($) | Nov. 13, 2015 | Nov. 12, 2015 | Sep. 11, 2015 | May. 17, 2013 | Nov. 30, 2015 |
Principal | $ 5,000 | $ 5,000 | $ 10,000 | $ 10,000 | $ 30,000 |
Interest | 19 | 20 | 175 | 2,032 | 2,246 |
Total | $ 5,019 | $ 5,020 | $ 10,175 | $ 12,032 | $ 32,246 |
Common Stock (Details Narrative
Common Stock (Details Narrative) - $ / shares | Nov. 08, 2013 | Nov. 30, 2015 | Sep. 27, 2013 | Sep. 07, 2013 |
Equity [Abstract] | ||||
Number of common stock shares issued for subscriptions received | 700,000 | |||
Common stock price per share | $ 0.05 | $ 0.05 | $ 0.05 | |
Number of common stock shares issued for cash | 600,000 | |||
Warrants or stock options outstanding |