Stemtech (STEK) 10-Q 15 Jul 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	May 31, 2016	Jul. 14, 2016
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	May 31, 2016
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	Q3
Document Fiscal Year Focus	2,016

Interim Balance Sheets (Unaudit

Interim Balance Sheets (Unaudited) - USD ($)	May 31, 2016	Aug. 31, 2015
CURRENT ASSETS
Cash	$ 1,327	$ 819
Prepaid Expenses	1,250
Total Assets	2,577	819
CURRENT LIABILITIES
Accounts Payable	9,705	10,453
Accrued Liabilities	15,207	15,933
Notes Payable - Note 5	30,000	30,000
Convertible Note Payable - Note 6	30,500	10,000
Total Current Liabilities	85,412	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	(165,741)	(148,473)
Total Stockholders' Deficit	(82,835)	(65,567)
Total Liabilities and Stockholders' Deficit	$ 2,577	$ 819

Interim Balance Sheets (Unaudi3

Interim Balance Sheets (Unaudited) (Parenthetical) - $ / shares	May 31, 2016	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 (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	May 31, 2016	May 31, 2015	May 31, 2016	May 31, 2015
EXPENSES
General and administrative expenses	$ 6,574	$ 1,385	$ 13,844	$ 9,390
Operating loss before interest	(6,574)	(1,385)	(13,844)	(9,390)
Interest	(1,215)	(807)	(3,424)	(2,393)
Net loss and comprehensive loss	$ (7,789)	$ (2,192)	$ (17,268)	$ (11,783)
Loss per share of common stock - Basic and diluted	$ (0.001)	$ 0	$ (0.002)	$ (0.001)
Weighted average shares of common stock - Basic and diluted	10,800,000	10,800,000	10,800,000	10,800,000

Interim Statement of Shareholde

Interim Statement of Shareholders' Deficit (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-In Capital [Member]	Common Stock Subscribed [Member]	Deficit Accumulated [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				(17,268)	(17,268)
Balance at May. 31, 2016	$ 10,800	$ 72,106		$ (165,741)	$ (82,835)
Balance, shares at May. 31, 2016	10,800,000

Interim Statement of Sharehold6

Interim Statement of Shareholders' Deficit (Unaudited) (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 (Unaudited) - USD ($)	9 Months Ended
	May 31, 2016	May 31, 2015
Cash Flows from (used in) Operating Activities
Net Loss	$ (17,268)	$ (11,783)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities
Interest on notes and convertible notes payable	3,424	2,393
Increase (Decrease) in Operating Assets and Liabilities
Prepaid expenses	(1,250)
Accounts Payable	(748)	(8,905)
Accrued Liabilities	(4,150)	2,250
Net Cash used in Operating Activities	(19,992)	(16,045)
Cash Flows from Financing Activities
Convertible note payable	20,500
Net Cash provided by Financing Activities	20,500
Increase (Decrease) in Cash	508	(16,045)
Cash at Beginning of Period	819	18,066
Cash at End of Period	1,327	2,021
Supplemental cash flow information
Interest	3,424	2,393
Taxes

Organization and Nature of Oper

Organization and Nature of Operations	9 Months Ended
	May 31, 2016
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	9 Months Ended
	May 31, 2016
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 $165,741 since inception September 4, 2009, has yet to achieve profitable operations and further losses are anticipated in the development of its business. The Company’s 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	9 Months Ended
	May 31, 2016
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 Company’s August 31, 2015 annual financial statements. Operating results for the nine month period ended May 31, 2016 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	9 Months Ended
	May 31, 2016
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	9 Months Ended
	May 31, 2016
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 $ 1,884 $ 6,884 October 4, 2011 5,000 1,864 6,864 November 4, 2011 10,000 3,660 13,660 December 3, 2012 10,000 2,795 12,795 Total $ 30,000 $ 10,203 $ 40,203

Convertible Note Payable

Convertible Note Payable	9 Months Ended
	May 31, 2016
Debt Disclosure [Abstract]
Convertible Note Payable	6. Convertible Note Payable There are five 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 lender’s 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 nine months ended May 31, 2016 as the shares that would have been issued are not readily convertible into cash. Date Principal Interest Total May 17, 2013 $ 10,000 $ 2,433 $ 12,433 Sep 11, 2015 10,000 576 10,576 Nov 12, 2015 5,000 220 5,220 Nov 13, 2015 5,000 219 5,219 Apr 11, 2016 500 6 506 Total $ 30,500 $ 3,454 $ 33,954

Common Stock

Common Stock	9 Months Ended
	May 31, 2016
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 May 31, 2016.

Notes Payable (Tables)

Notes Payable (Tables)	9 Months Ended
	May 31, 2016
Debt Disclosure [Abstract]
Schedule of 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 $ 1,884 $ 6,884 October 4, 2011 5,000 1,864 6,864 November 4, 2011 10,000 3,660 13,660 December 3, 2012 10,000 2,795 12,795 Total $ 30,000 $ 10,203 $ 40,203

Convertible Note Payable (Table

Convertible Note Payable (Tables)	9 Months Ended
	May 31, 2016
Debt Disclosure [Abstract]
Schedule of Convertible Note Payable	There was no value assigned to the conversion feature of the notes issued during the nine months ended May 31, 2016 as the shares that would have been issued are not readily convertible into cash. Date Principal Interest Total May 17, 2013 $ 10,000 $ 2,433 $ 12,433 Sep 11, 2015 10,000 576 10,576 Nov 12, 2015 5,000 220 5,220 Nov 13, 2015 5,000 219 5,219 Apr 11, 2016 500 6 506 Total $ 30,500 $ 3,454 $ 33,954

Basis of Presentation - Going17

Basis of Presentation - Going Concern Uncertainties (Details Narrative) - USD ($)	May 31, 2016	Aug. 31, 2015
Accounting Policies [Abstract]
Accumulated deficit	$ 165,741	$ 148,473

Notes Payable (Details Narrativ

Notes Payable (Details Narrative)	May 31, 2016
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	May 31, 2016
Principal	$ 10,000	$ 10,000	$ 5,000	$ 5,000	$ 30,000
Interest	2,795	3,660	1,864	1,884	10,203
Total	$ 12,795	$ 13,660	$ 6,864	$ 6,884	$ 40,203

Convertible Note Payable (Detai

Convertible Note Payable (Details Narrative)	May 31, 2016$ / 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 ($)	Apr. 11, 2016	Nov. 13, 2015	Nov. 12, 2015	Sep. 11, 2015	May 17, 2013	May 31, 2016
Principal	$ 500	$ 5,000	$ 5,000	$ 10,000	$ 10,000	$ 30,500
Interest	6	219	220	576	2,433	3,454
Total	$ 506	$ 5,219	$ 5,220	$ 10,576	$ 12,433	$ 33,954

Common Stock (Details Narrative

Common Stock (Details Narrative) - $ / shares	Nov. 08, 2013	May 31, 2016	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