Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended |
Oct. 31, 2013 | |
Document and Entity Information: | ' |
Entity Registrant Name | 'Enhance-Your-Reputation.com, Inc. |
Document Type | '10-Q |
Document Period End Date | 31-Oct-13 |
Amendment Flag | 'false |
Entity Central Index Key | '0001518720 |
Current Fiscal Year End Date | '--04-30 |
Entity Common Stock, Shares Outstanding | 10,145,000 |
Entity Filer Category | 'Smaller Reporting Company |
Entity Current Reporting Status | 'No |
Entity Voluntary Filers | 'No |
Entity Well-known Seasoned Issuer | 'No |
Document Fiscal Year Focus | '2014 |
Document Fiscal Period Focus | 'Q2 |
EnhanceYourReputationcom_Inc_B
Enhance-Your-Reputation.com, Inc.- Balance Sheets (USD $) | Oct. 31, 2013 | Apr. 30, 2013 | ||
Current Assets: | ' | ' | ||
Cash and cash equivalents | $7,500 | $164 | ||
TOTAL CURRENT ASSETS | 7,500 | 164 | ||
Current Liabilities: | ' | ' | ||
Accounts payable and accrued expenses | 8,240 | 67,974 | ||
Total Current Liabilities | 8,240 | 67,974 | ||
Stockholders' (Deficit) | ' | ' | ||
Common stock | 1,014 | [1] | 264 | [1] |
Additional paid-in capital | 118,920 | 26,636 | ||
Deficit accumulated during the development stage | -120,674 | -94,710 | ||
Total Stockholders' (Deficit) | -740 | -67,810 | ||
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $7,500 | $164 | ||
[1] | $0.0001 par value, 50,000,000 shares authorized, 10,145,000 and 2,645,000 shares issued and outstanding, respectively. |
EnhanceYourReputationcom_Inc_S
Enhance-Your-Reputation.com, Inc. - Statements of Operations (USD $) | 3 Months Ended | 6 Months Ended | 32 Months Ended | ||
Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2013 | |
Income Statement | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | $2,800 |
Operating Expenses: | ' | ' | ' | ' | ' |
Payroll-Officer | ' | 10,000 | 10,000 | 20,000 | 70,000 |
General and administrative | 15,292 | 2,195 | 15,964 | 7,570 | 53,474 |
TOTAL OPERATING EXPENSES | 15,292 | 12,195 | 25,964 | 27,570 | 123,474 |
Net (loss) | ' | ' | ($25,964) | ($27,570) | ($120,674) |
(Loss) Per Share- Basic and Diluted | $0 | $0 | ($0.01) | ($0.01) | ' |
Weighted number of shares outstanding | 5,498,261 | 2,645,000 | 4,071,630 | 2,645,000 | ' |
EnhanceYourReputationcom_Inc_S1
Enhance-Your-Reputation.com, Inc. - Statements of Cash Flows (USD $) | 6 Months Ended | 32 Months Ended | |
Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2013 | |
Cash flows from operating activities: | ' | ' | ' |
Net (loss) | ($25,964) | ($27,570) | ($120,674) |
Adjustments to reconcile net (loss) to net cash used by operating activities: | ' | ' | ' |
Increase in accounts payable and accrued expenses | 10,266 | 20,000 | 78,240 |
Net Cash Used by Operating Activities | -15,698 | -7,570 | -42,434 |
Cash Flows From Financing Activities: | ' | ' | ' |
Proceeds from sale of common stock | 7,500 | ' | 22,250 |
Capital contributions from officers | 15,534 | 6,700 | 27,684 |
Net Cash Provided by Financing Activities | 23,034 | 6,700 | 49,934 |
NET INCREASE (DECREASE) IN CASH | 7,336 | -870 | 7,500 |
Cash, beginning of period | 164 | 1,074 | ' |
Cash, end of period | 7,500 | 204 | 7,500 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ' | ' | ' |
Accrued officer compensation forgiven and donated as contributed capital | $70,000 | ' | $70,000 |
Note_1_Interim_Unaudited_Finan
Note 1 - Interim Unaudited Financial Statements | 6 Months Ended |
Oct. 31, 2013 | |
Notes | ' |
Note 1 - Interim Unaudited Financial Statements | ' |
NOTE 1 – INTERIM UNAUDITED FINANCIAL STATEMENTS | |
The balance sheet of Enhance-Your-Reputation.com, Inc. (the “Company”) as of October 31, 2013, and the statements of operations and cash flows for the three and six months then ended, and the statement of stockholders’ equity from inception (March 11, 2011) to October 31, 2013, have not been audited. However, in the opinion of management, such information includes all adjustments (consisting only of normal recurring adjustments) which are necessary to properly reflect the financial position of the Company as of October 31, 2013, and the results of its operations and cash flows for the three and six months ended, and its changes in stockholders’ equity from inception (March 11, 2011) to October 31, 2013. | |
Certain information and notes normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted, although management believes that the disclosures are adequate to make the information presented not misleading and in conformity with the rules of the Securities and Exchange Commission. Interim period results are not necessarily indicative of the results to be achieved for an entire year. These financial statements should be read in conjunction with the financial statements and notes to financial statements included in the Company’s financial statements as filed on Form 10-K for the fiscal year ended April 30, 2013. |
Note_2_Company_Background_and_
Note 2 - Company Background and Organization | 6 Months Ended |
Oct. 31, 2013 | |
Notes | ' |
Note 2 - Company Background and Organization | ' |
NOTE 2 – COMPANY BACKGROUND AND ORGANIZATION | |
Enhance-Your-Reputation.Com, Inc., (the Company), was incorporated on March 11, 2011, under the laws of the State of Florida. On September 25, 2013 the Company changed its name to its current name, Enhance-Your-Reputation.Com, Inc. We were incorporated for the purpose of providing an online marketplace for artwork created by German artist Reinhold Mackenroth on the internet. Unfortunately, sales did not materialize as expected, and as such, we decided to add an additional business to our existing one. In conjunction with our name change, we decided to enhance our business by going into the reputation management and enhancement business. As a result of such things as Ripoffreport.com and other negative reporting sites on the internet, the enhancement and correction of online reputations is a growing business which we believe will continue to grow. A quick search on Google reveals that numerous companies have sprung up on line to repair reputations. Most of the time, the goal is to create branded domains or have other information posted on search engines which push the bad reports down to either the second or third page on the search engine. Historically, when doing background checks on the web, most do not go beyond the first page. The Company retained a web designer and its web site “Enhance-Your-Repuation.Com” is now operational. The Company may look to acquire similar businesses and intends to advertise to promote its business. We also intend to hire one or more sales representatives whose job will be to search the web for negative reporting on individuals and businesses and then contact them and offer our services. In addition, the Company is actively seeking investors to help grow its business. |
Note_3_Summary_of_Significant_
Note 3 - Summary of Significant Accounting Policies | 6 Months Ended |
Oct. 31, 2013 | |
Notes | ' |
Note 3 - Summary of Significant Accounting Policies | ' |
NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Basis of Presentation – Development Stage Company | |
The Company is a development stage company as defined by ASC 915-10, “Development Stage Entities”. All losses accumulated since inception have been considered as part of the Company’s development stage activities. The Company has not earned any significant revenue from operations. | |
Among the disclosures required for development stage companies’ is that the financial statements be identified as those of a development stage company, and that the statements of operations, stockholders’ equity and cash flows disclose activity since the date of the Company’s inception. | |
Accounting Basis | |
The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (“GAAP” accounting). The Company has adopted an April 30 fiscal year end. | |
Cash and Cash Equivalents | |
The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company’s cash balance as of October 31, 2013 totaled $7,500. | |
Fair Value of Financial Instruments | |
The Company’s financial instruments consist of cash and cash equivalents and accounts payable and accrued expenses. The carrying amounts of the Company’s financial instruments approximate fair value because of the short term maturity of these items. These fair value estimates are subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect those estimates. We do not hold or issue financial instruments for trading purposes, nor do we utilize derivative instruments. | |
Income Taxes | |
In accordance with ASC 740, deferred income taxes and benefits will be provided for the results of operations of the Company. The tax effects of temporary differences and carry-forwards that give rise to significant portion of deferred tax assets and liabilities will be recognized as appropriate. | |
Use of Estimates | |
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |
Revenue Recognition | |
The Company has not realized any significant revenue. The company recognizes revenue when products are fully delivered or services have been provided and collection is reasonably assured. | |
Stock Based Compensation | |
Stock based compensation is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options. | |
Basic Income (Loss) Per Share | |
Basic income (loss) per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company’s net income 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. There are no such common stock equivalents outstanding as of October 31, 2013. | |
Recent Accounting Pronouncements | |
The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position, or cash flows. |
Note_4_Stockholders_Equity_Sal
Note 4 - Stockholders' Equity, Sales of Common Stock, and Contributed Capital Transactions | 6 Months Ended |
Oct. 31, 2013 | |
Notes | ' |
Note 4 - Stockholders' Equity, Sales of Common Stock, and Contributed Capital Transactions | ' |
NOTE 4 - Stockholders’ Equity, sales of common stock, and contributed capital transactions | |
In March 2011, the Company sold 2,500,000 shares of their restricted common stock to the President and Founder of the company for $250. | |
In March 2011, the Company sold 91,000 shares of their restricted common stock, under Regulation S of the Securities Act of 1933, as amended, for the above issuances to non US citizens or residents. The shares were offered at a per share price of $.10, for an aggregate sum of $9,100. | |
In April, 2011, Pursuant to Rule 505 of Regulation D of the Securities Act of 1933, as amended, the company sold 54,000 shares of restricted common stock for $5,400. | |
In May, 2011, $1,500 in legal costs associated with the registration was paid for by a principal stockholder as a gift to the company, and thus was accounted for as contributed capital. | |
Throughout the 2013 fiscal year, the company received a total of $10,650 from its president, at no cost to the company, and is accounted for as a contribution of capital. | |
In May 2013, the Company received a total of $1,700 from its president, at no cost to the company, and is accounted for as contribution of capital. | |
On September 27, 2013, the Company received $750 from its new President in exchange for 7,500,000 common shares sold at $0.001 per share. | |
During the three month period ended October 31, 2013, the Company’s former President forgave $70,000 of accrued compensation as a contribution of capital. | |
During the three month period ended October 31, 2013, both the Company’s former and successor Presidents’ personally paid in the aggregate $22,284 of the Company’s obligations which consisted primarily of auditor, legal, and transfer agent fees. These transactions were accounted for as capital contributions. |
Note_5_Related_Party_Transacti
Note 5 - Related Party Transactions | 6 Months Ended |
Oct. 31, 2013 | |
Notes | ' |
Note 5 - Related Party Transactions | ' |
NOTE 5 - Related Party Transactions | |
The Company’s sole officer is not currently receiving any compensation for his services. | |
Commencing November 1, 2011 the Company’s former CEO and President, Mr. Mackenroth, was to receive a salary of $40,000 per year. This compensation was to be deferred until funds were available. In September 2013, the former officer sold his common stock to the Company’s current CEO and President and forgave $70,000 of accrued compensation that was owed to him as a capital contribution to the Company. | |
On September 27, 2013, the Company’s new CEO/President purchased 7,500,000 common shares at $0.001 per share for $750. | |
During the three month period ended October 31, 2013, both the Company’s former and successor Presidents’ personally paid in the aggregate $22,284 of the Company’s obligations which consisted primarily of auditor, legal, and transfer agent fees. These transactions were accounted for as capital contributions. |
Note_6_Income_Taxes
Note 6 - Income Taxes | 6 Months Ended |
Oct. 31, 2013 | |
Notes | ' |
Note 6 - Income Taxes | ' |
NOTE 6 – Income Taxes | |
In September 2013, the Company’s sole shareholder/President sold 100% of his common stock to the Company’s new President. Pursuant to Internal Revenue Service (IRS) Code Section 382, an ownership change of greater than 50% triggers certain limits to the corporation’s right to use its net operating loss (NOL) carryovers each year thereafter to an annual percentage of the fair market value of the corporation at the time of the ownership change. | |
The Company is in the process of determining the extent of which the ownership change will have on its ability to utilize the NOL’s it incurred prior to the ownership change. | |
No deferred tax asset has been reported in the financial statements because the Company believes there is a 50% or greater chance that its NOL’s will expire unused. Accordingly, the potential tax benefits of the NOL carryforwards are offset by a valuation allowance of the same amount. |
Note_7_Subsequent_Event
Note 7 - Subsequent Event | 6 Months Ended |
Oct. 31, 2013 | |
Notes | ' |
Note 7 - Subsequent Event | ' |
NOTE 7 – Subsequent Event | |
In November 2013, the Company sold 8,000,000 common shares at $0.01 per share for $80,000. |
Note_3_Summary_of_Significant_1
Note 3 - Summary of Significant Accounting Policies: Basis of Presentation - Development Stage Company (Policies) | 6 Months Ended |
Oct. 31, 2013 | |
Policies | ' |
Basis of Presentation - Development Stage Company | ' |
Basis of Presentation – Development Stage Company | |
The Company is a development stage company as defined by ASC 915-10, “Development Stage Entities”. All losses accumulated since inception have been considered as part of the Company’s development stage activities. The Company has not earned any significant revenue from operations. | |
Among the disclosures required for development stage companies’ is that the financial statements be identified as those of a development stage company, and that the statements of operations, stockholders’ equity and cash flows disclose activity since the date of the Company’s inception. |
Note_3_Summary_of_Significant_2
Note 3 - Summary of Significant Accounting Policies: Accounting Basis (Policies) | 6 Months Ended |
Oct. 31, 2013 | |
Policies | ' |
Accounting Basis | ' |
Accounting Basis | |
The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (“GAAP” accounting). The Company has adopted an April 30 fiscal year end. |
Note_3_Summary_of_Significant_3
Note 3 - Summary of Significant Accounting Policies: Cash and Cash Equivalents (Policies) | 6 Months Ended |
Oct. 31, 2013 | |
Policies | ' |
Cash and Cash Equivalents | ' |
Cash and Cash Equivalents | |
The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company’s cash balance as of October 31, 2013 totaled $7,500. |
Note_3_Summary_of_Significant_4
Note 3 - Summary of Significant Accounting Policies: Fair Value of Financial Instruments (Policies) | 6 Months Ended |
Oct. 31, 2013 | |
Policies | ' |
Fair Value of Financial Instruments | ' |
Fair Value of Financial Instruments | |
The Company’s financial instruments consist of cash and cash equivalents and accounts payable and accrued expenses. The carrying amounts of the Company’s financial instruments approximate fair value because of the short term maturity of these items. These fair value estimates are subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect those estimates. We do not hold or issue financial instruments for trading purposes, nor do we utilize derivative instruments. |
Note_3_Summary_of_Significant_5
Note 3 - Summary of Significant Accounting Policies: Income Taxes (Policies) | 6 Months Ended |
Oct. 31, 2013 | |
Policies | ' |
Income Taxes | ' |
Income Taxes | |
In accordance with ASC 740, deferred income taxes and benefits will be provided for the results of operations of the Company. The tax effects of temporary differences and carry-forwards that give rise to significant portion of deferred tax assets and liabilities will be recognized as appropriate. |
Note_3_Summary_of_Significant_6
Note 3 - Summary of Significant Accounting Policies: Use of Estimates (Policies) | 6 Months Ended |
Oct. 31, 2013 | |
Policies | ' |
Use of Estimates | ' |
Use of Estimates | |
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Note_3_Summary_of_Significant_7
Note 3 - Summary of Significant Accounting Policies: Revenue Recognition (Policies) | 6 Months Ended |
Oct. 31, 2013 | |
Policies | ' |
Revenue Recognition | ' |
Revenue Recognition | |
The Company has not realized any significant revenue. The company recognizes revenue when products are fully delivered or services have been provided and collection is reasonably assured. |
Note_3_Summary_of_Significant_8
Note 3 - Summary of Significant Accounting Policies: Stock Based Compensation (Policies) | 6 Months Ended |
Oct. 31, 2013 | |
Policies | ' |
Stock Based Compensation | ' |
Stock Based Compensation | |
Stock based compensation is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options. |
Note_3_Summary_of_Significant_9
Note 3 - Summary of Significant Accounting Policies: Basic Income (loss) Per Share (Policies) | 6 Months Ended |
Oct. 31, 2013 | |
Policies | ' |
Basic Income (loss) Per Share | ' |
Basic Income (Loss) Per Share | |
Basic income (loss) per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company’s net income 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. There are no such common stock equivalents outstanding as of October 31, 2013. |
Recovered_Sheet1
Note 3 - Summary of Significant Accounting Policies: Recent Accounting Pronouncements (Policies) | 6 Months Ended |
Oct. 31, 2013 | |
Policies | ' |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position, or cash flows. |
Recovered_Sheet2
Note 3 - Summary of Significant Accounting Policies: Cash and Cash Equivalents (Details) (USD $) | Oct. 31, 2013 |
Details | ' |
Cash | $7,500 |
Note_4_Stockholders_Equity_Sal1
Note 4 - Stockholders' Equity, Sales of Common Stock, and Contributed Capital Transactions (Details) (USD $) | 3 Months Ended |
Oct. 31, 2013 | |
Details | ' |
Legal Fees | $22,284 |
Note_5_Related_Party_Transacti1
Note 5 - Related Party Transactions (Details) (USD $) | 3 Months Ended | 6 Months Ended | 32 Months Ended | 24 Months Ended | |||||||
Oct. 31, 2012 | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2013 | Sep. 01, 2013 | Apr. 30, 2013 | Oct. 31, 2013 | Sep. 27, 2013 | ||||
Mackenroth | Ward | ||||||||||
Payroll-Officer | $10,000 | $10,000 | $20,000 | $70,000 | ' | ' | $40,000 | ' | |||
Accrued Salaries, Current | ' | ' | ' | ' | 70,000 | ' | ' | ' | |||
Common Stock, Shares, Issued | ' | ' | ' | ' | ' | ' | ' | 7,500,000 | |||
Common Stock, Par or Stated Value Per Share | ' | ' | ' | ' | ' | ' | ' | $0.00 | |||
Common stock | ' | $1,014 | [1] | ' | $1,014 | [1] | ' | $264 | [1] | ' | $750 |
[1] | $0.0001 par value, 50,000,000 shares authorized, 10,145,000 and 2,645,000 shares issued and outstanding, respectively. |