Samsara Luggage (SAML) 10-Q 10 Mar 16 2016 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jan. 31, 2016	Mar. 10, 2016
Document And Entity Information
Entity Registrant Name	Darkstar Ventures, Inc.
Entity Central Index Key	1,530,163
Document Type	10-Q
Document Period End Date	Jan. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--07-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		107,145,000
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,016

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Jan. 31, 2016	Jul. 31, 2015
CURRENT ASSETS:
Cash and cash equivalents		$ 215
Other current assets	$ 27,326	270
Total current assets	27,326	485
Total assets	27,326	$ 485
CURRENT LIABILITIES:
Short term bank credit	4,192
Accounts payables and accrued expenses	4,915	$ 1,419
Loan payable - related party	271,942	203,681
Total current liabilities	$ 281,049	$ 205,100
STOCKHOLDERS' DEFICIT:
Preferred stock, 5,000,000 shares authorized, par value $0.0001, none issued and outstanding
Common stock, 500,000,000 shares authorized, par value $0.0001, 107,145,000 shares issued and outstanding	$ 10,714	$ 10,714
Additional paid-in capital	24,936	$ 24,936
Accumulated other comprehensive income	494
Accumulated deficit	(289,867)	$ (240,265)
Total stockholders' Equity (Deficit)	(253,723)	(204,615)
Total liabilities and Stockholders' Equity (Deficit)	$ 27,326	$ 485

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jan. 31, 2016	Jul. 31, 2015
Statement of Financial Position [Abstract]
Preferred stock, par value per share	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value per share	$ 0.0001	$ 0.0001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	107,145,000	107,145,000
Common stock, shares outstanding	107,145,000	107,145,000

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Operations - USD ($)	3 Months Ended		6 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Jan. 31, 2016	Jan. 31, 2015
Income Statement [Abstract]
General and administrative expenses	$ 17,619	$ 8,595	$ 42,303	$ 24,096
Operating loss	(17,619)	(8,595)	(42,303)	(24,096)
Interest expense, net	7,170	1,939	7,299	3,821
Net loss	(24,789)	$ (10,534)	(49,602)	$ (27,917)
Other comprehensive income - Foreign currency gain	591		494
Comprehensive loss	$ (24,198)	$ (10,534)	$ (49,108)	$ (27,917)
Basic and diluted Net loss per common share	$ 0	$ 0	$ 0	$ 0
Weighted average number of common shares outstanding during the period - basic and diluted	107,145,000	107,145,000	107,145,000	107,145,000

Statement Of Changes in Shareho

Statement Of Changes in Shareholders' Equity (Deficit) - USD ($)	Common Stock, USD 0.0001 Par Value [Member]	Foreign currency translation adjustments [Member]	Additional paid-in Capital [Member]	Accumulated deficit [Member]	Total
Balance, shares at Jul. 31, 2014	107,145,000
Balance, value at Jul. 31, 2014	$ 10,714		$ 24,936	$ (176,854)	$ (141,204)
Foreign currency translation adjustments
Net loss for the six months ended				(27,917)	$ (27,917)
Balance, shares at Jan. 31, 2015	107,145,000
Balance, value at Jan. 31, 2015	$ 10,714		$ 24,936	(204,771)	$ (169,121)
Balance, shares at Jul. 31, 2015	107,145,000				107,145,000
Balance, value at Jul. 31, 2015	$ 10,714		$ 24,936	$ (240,265)	$ (204,615)
Foreign currency translation adjustments		$ 494			494
Net loss for the six months ended				$ (49,602)	$ (49,602)
Balance, shares at Jan. 31, 2016	107,145,000				107,145,000
Balance, value at Jan. 31, 2016	$ 10,714	$ 494	$ 24,936	$ (289,867)	$ (253,723)

Condensed Consolidated Stateme6

Condensed Consolidated Statements Of Cash Flows - USD ($)	6 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (49,602)	$ (27,917)
Adjustments required to reconcile net loss to cash used in operating activities:
Expenses in respect of loans from related party	(8,181)
Increase in prepaid expenses and other receivables	27,056
Increase in other account payables	3,496	$ 22,300
Net cash used in operating activities	$ (64,981)	$ (5,617)
CASH FLOWS FROM INVESTING ACTIVITIES:
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from loan Payable		$ 5,480
Proceeds from loan Payable - related party	$ 60,080
Proceeds from bank credit	4,192
Net cash provided by financing activities	64,272	$ 5,480
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(709)	$ (137)
EFFECT OF EXCHANGE RATE CHANGES	494
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	$ 215	$ 556
CASH AND CASH EQUIVALENTS AT END OF PERIOD		$ 419
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid during the period for: Interest
Cash paid during the period for: Income taxes

General

General	6 Months Ended
	Jan. 31, 2016
Accounting Policies [Abstract]
General	NOTE 1- GENERAL Darkstar Ventures, Inc. (“the Company” or “we”) was incorporated on May 8, 2007 under the laws of the State of Nevada. The Company established a wholly-owned subsidiary in Israel, Bengio Urban Renewals Ltd., to focus its limited resources in the area of real estate development, particularly focusing on the urban renewal market in Israel. The Company’s activities are subject to significant risks and uncertainties, including failing to secure additional funding to operationalize the Company’s current business plan.

Interim Financial Statements

Interim Financial Statements	6 Months Ended
	Jan. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Interim Financial Statements	NOTE 2 - INTERIM FINANCIAL STATEMENTS The accompanying unaudited interim consolidated financial statements as of January 31, 2016 and for the six months then ended, have been prepared in accordance with accounting principles generally accepted in the United States relating to the preparation of financial statements for interim periods. Accordingly, they do not include all the information and footnotes required for annual financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the six months ended January 31, 2016 are not necessarily indicative of the results that may be expected for the year ending July 31, 2016. The July 31, 2015 Condensed Balance Sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America. These financial statements should be read in conjunction with the financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the year ended July 31, 2015.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jan. 31, 2016
Accounting Policies [Abstract]
Significant Accounting Policies	NOTE 3 - SIGNIFICANT ACCOUNTING POLICIES The significant accounting policies applied in the annual financial statements of the Company as of July 31, 2015, are applied consistently in these financial statements.

Going Concern

Going Concern	6 Months Ended
	Jan. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern	NOTE 4 - GOING CONCERN The Company has not commenced planned principal operations. The Company had an accumulated deficit of $289,867 as of January 31, 2016. In addition, the Company had a working capital deficiency of $253,723 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.

Newly Issued Accounting Pronoun

Newly Issued Accounting Pronouncements	6 Months Ended
	Jan. 31, 2016
Accounting Changes and Error Corrections [Abstract]
Newly Issued Accounting Pronouncements	NOTE 5 - NEWLY ISSUED ACCOUNTING PRONOUNCEMENTS: No new accounting standards have been adopted since the Company’s Annual Report on Form 10-K for the fiscal year ended July 31, 2015 was filed.

Subsequent Events

Subsequent Events	6 Months Ended
	Jan. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	NOTE 6 - SUBSEQUENT EVENTS: On February 16,2016, the Board of Directors of the Company and the holder of a majority of the issued and outstanding shares of common stock of the Company (the "Majority Consenting Stockholder"), together, executed a joint written consent to authorize and approve a Certificate of Amendment to the Company's Articles of Incorporation to increase the authorized capital stock of the Company from 505,000,000 shares (the "Capital Stock"), consisting of 500,000,000 shares of common stock, par value $0.0001 (the "Common Stock") and 5,000,000 shares of preferred stock,par value $0.0001 (the "Preferred Stock"), to an authorized capital stock of the Corporation of 2,005,000,000 shares consisting of 2,000,000,000 shares of Common Stock and five million 5,000,000 shares of Preferred Stock. It was also decided that the Board of Directors shall have the authority to establish one or more series of Preferred Stock and fix relative rights and preferences of any series of Preferred Stock, without any further action or approval of our stockholders.

Subsequent Events (Narrative) (

Subsequent Events (Narrative) (Details)	Feb. 16, 2016
Subsequent Event [Member]
Subsequent Event [Line Items]
Changes in authorized capital stock	On February 16, 2016, the Board of Directors of the Company and the holder of a majority of the issued and outstanding shares of common stock of the Company (the "Majority Consenting Stockholder"), together, executed a joint written consent to authorize and approve a Certificate of Amendment to the Company's Articles of Incorporation to increase the authorized capital stock of the Company from 505,000,000 shares (the "Capital Stock"), consisting of 500,000,000 shares of common stock, par value $0.0001 (the "Common Stock") and 5,000,000 shares of preferred stock, par value $0.0001 (the "Preferred Stock"), to an authorized capital stock of the Corporation of 2,005,000,000 shares consisting of 2,000,000,000 shares of Common Stock and five million 5,000,000 shares of Preferred Stock.