Document_And_Entity_Informatio
Document And Entity Information | 6 Months Ended | |
Jan. 31, 2015 | Mar. 23, 2015 | |
Document And Entity Information [Abstract] | ||
Entity Registrant Name | Health Advance, Inc. | |
Entity Central Index Key | 1531477 | |
Amendment Flag | FALSE | |
Current Fiscal Year End Date | -24 | |
Document Type | 10-Q | |
Document Period End Date | 31-Jan-15 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q2 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 24,520,000 |
Condensed_Balance_Sheets_Unaud
Condensed Balance Sheets (Unaudited) (USD $) | Jan. 31, 2015 | Jul. 31, 2014 |
CURRENT LIABILITIES | ||
Bank indebtedness | $28 | |
Accounts payable and accrued liabilities | 47,246 | 46,178 |
Advances from a shareholder (Note 4) | 66,090 | 59,135 |
TOTAL LIABILITIES | 113,336 | 105,341 |
STOCKHOLDERS' DEFICIT | ||
Authorized: 500,000,000 common stock, par value $0.001 Issued and outstanding: (Note 7) 24,520,000 common stock as at October 31, 2014 (July 31, 2014: 24,520,000 common stock) | 24,520 | 24,520 |
Additional paid-in capital | 180,080 | 168,080 |
Common stock to be issued (Note 7) | 67,500 | 42,500 |
Deficit accumulated during the exploration stage | -385,436 | -340,441 |
TOTAL STOCKHOLDERS' DEFICIT | -113,336 | -105,341 |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT |
Condensed_Balance_Sheets_Unaud1
Condensed Balance Sheets (Unaudited) (Parenthetical) (USD $) | Jan. 31, 2015 | Jul. 31, 2014 |
Statement of Financial Position [Abstract] | ||
Common stock, par value | $0.00 | $0.00 |
Common Stock, Shares Authorized | 500,000,000 | 500,000,000 |
Common Stock, Shares, Issued | 24,520,000 | 24,520,000 |
Common Stock, Shares, Outstanding | 24,520,000 | 24,520,000 |
Condensed_Statements_Of_Operat
Condensed Statements Of Operations And Comprehensive Loss (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended | ||
Jan. 31, 2015 | Jan. 31, 2014 | Jan. 31, 2015 | Jan. 31, 2014 | |
Income Statement [Abstract] | ||||
SALES | ||||
COST OF SALES | ||||
GROSS PROFIT | ||||
EXPENSES | ||||
Professional fees | 9,977 | 5,755 | 22,366 | 11,585 |
Office and general | 1,369 | 1,222 | 3,178 | 4,968 |
Rent and occupancy | 3,600 | 3,600 | 7,200 | 7,200 |
Consulting and management fees | 6,000 | 6,000 | 12,000 | 12,000 |
Total expenses | 20,946 | 16,577 | 44,744 | 35,753 |
Foreign exchange loss | 44 | 251 | 209 | |
Loss before income taxes | -20,946 | -16,621 | -44,995 | -35,962 |
Income taxes | ||||
NET AND COMPREHENSIVE LOSS FOR THE PERIOD | ($20,946) | ($16,621) | ($44,995) | ($35,962) |
Loss per common share, basic and diluted | ($0.00) | ($0.00) | ($0.00) | ($0.00) |
Weighted average number of common stock outstanding, basic and diluted | 24,520,000 | 24,520,000 | 24,520,000 | 24,520,000 |
Condensed_Statements_Of_Cash_F
Condensed Statements Of Cash Flows (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended | |
Jan. 31, 2014 | Jan. 31, 2015 | Jan. 31, 2014 | |
OPERATING ACTIVITIES | |||
Net loss for the period | ($16,621) | ($44,995) | ($35,962) |
Adjustments for non-cash items | |||
In-kind contribution of services | 12,000 | 12,000 | |
Net change in non-cash working capital balances: | |||
Accounts payable and accrued liabilities | 1,068 | 5,361 | |
Net cash used in operating activities | -31,927 | -18,601 | |
FINANCING ACTIVITIES | |||
Bank indebtedness | -28 | ||
Proceeds from issuance of common stock | 25,000 | 4,000 | |
Advances from a shareholder | 6,955 | 14,286 | |
Net cash provided by financing activities | 31,927 | 18,286 | |
Net decrease in cash during the period | -315 | ||
Cash, beginning of period | 526 | ||
Cash, end of period | $211 | $211 |
Nature_Of_Operations_And_Organ
Nature Of Operations And Organization | 6 Months Ended | |
Jan. 31, 2015 | ||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
NATURE OF OPERATIONS AND ORGANIZATION | 1 | NATURE OF OPERATIONS AND ORGANIZATION |
Health Advance Inc. (the "Company" or "Health Advance") was incorporated on April 14, 2010 in the State of Wyoming. The Company is a development stage company and is an online retailer of home medical products with operations in Canada and the United States of America (“USA”). | ||
Basis_Of_Presentation
Basis Of Presentation | 6 Months Ended | |
Jan. 31, 2015 | ||
Basis Of Presentation | ||
BASIS OF PRESENTATION | 2 | BASIS OF PRESENTATION |
The condensed financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America for interim financial information and the SEC instructions to Form 10Q. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. All adjustments, consisting of normal recurring accruals, considered necessary for a fair presentation have been included. For further information, refer to the financial statements and footnotes thereto included in the Company’s annual report on Form 10K for the year ended July 31, 2014. |
Going_Concern
Going Concern | 6 Months Ended | |
Jan. 31, 2015 | ||
Going Concern [Abstract] | ||
GOING CONCERN | 3 | GOING CONCERN |
These financial statements have been prepared assuming the Company will continue on a going concern basis. The Company has incurred losses since inception and the ability of the Company to continue as a going concern depends upon its ability to develop profitable operations and to continue to raise adequate financing. Management is actively targeting sources of additional financing to provide continuation of the Company’s operations. In order for the Company to meet its liabilities as they come due and to continue its operations, the Company is solely dependent upon its ability to generate such financing. | ||
There can be no assurance that the Company will be able to continue to raise funds, in which case the Company may be unable to meet its obligations. Should the Company be unable to realize its assets and discharge its liabilities in the normal course of business, the net realizable value of its assets may be materially less than the amounts recorded in these financial statements. | ||
These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue in existence. | ||
Related_Party_Transactions
Related Party Transactions | 6 Months Ended | |
Jan. 31, 2015 | ||
Related Party Transactions [Abstract] | ||
RELATED PARTY TRANSACTIONS | 4 | RELATED PARTY TRANSACTIONS |
The transactions with related parties were in the normal course of operations and were measured at the exchange value which represented the amount of consideration established and agreed to by the parties. Related party transactions not disclosed elsewhere in these financial statements are as follows: | ||
a. | The Company paid $3,600 and $7,200 ($1,200 per month) each for the three and six months ended January 31, 2015 and 2014 to a shareholder and director in respect of rent and occupancy. The Company also paid $600 and $1,200 ($200 per month) each for the three months and six months ended January 31, 2015 and 2014 in respect of certain administrative services included in office and general. In addition, the Company has charged $6,000 and $12,000 ($2,000 per month) each for the three and six months ended January 31, 2015 and 2014 representing the costs of estimated services from a shareholder. These amounts have been debited to consulting and management fees with corresponding credit to additional paid in capital. | |
b. | Advances from a shareholder of the Company as at January 31, 2015 were $66,090 (July 31, 2014 - $59,135). These advances are non-interest bearing, unsecured and with no specific terms of repayment. | |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 6 Months Ended | |
Jan. 31, 2015 | ||
Accounting Changes and Error Corrections [Abstract] | ||
RECENT ACCOUNTING PRONOUNCEMENTS | 5 | RECENT ACCOUNTING PRONOUNCEMENTS |
From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (FASB) or other standard setting bodies that are adopted by the Company as of the specified effective date. | ||
In June 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-10, “Development Stage Entities”. The amendments in this update remove the definition of a development stage entity from the Master Glossary of the ASC thereby removing the financial reporting distinction between development stage entities and other reporting entities from U.S. GAAP. In addition, the amendments eliminate the requirements for development stage entities to (1) present inception-to-date information in the statements of income, cash flows, and shareholder equity, (2) label the financial statements as those of a development stage entity, (3) disclose a description of the development stage activities in which the entity is engaged, and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had` been in the development stage. The amendments in this update are applied retrospectively. The early adoption of ASU 2014-10 is permitted which removed the development stage entity financial reporting requirements from the Company. | ||
Earnings_Per_Share
Earnings Per Share | 6 Months Ended | |
Jan. 31, 2015 | ||
Earnings Per Share [Abstract] | ||
EARNINGS PER SHARE | 6 | EARNINGS PER SHARE |
The Company has adopted the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) 260-10 which provides for calculation of “basic” and “diluted” earnings per share. Basic earnings per share includes no dilution and is computed by dividing net income or loss available to common stockholders by the weighted average common shares outstanding for the period. Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of an entity. Basic and diluted losses per share were the same at the reporting dates as there were no common stock equivalents outstanding at January 31, 2015 and 2014. |
Stockholders_Deficit
Stockholders' Deficit | 6 Months Ended | |
Jan. 31, 2015 | ||
Equity [Abstract] | ||
STOCKHOLDERS' DEFICIT | 7 | STOCKHOLDERS’ DEFICIT |
COMMON STOCK - AUTHORIZED | ||
As at January 31, 2015, the Company has 500,000,000 authorized shares of common stock with a par value of $0.001. | ||
COMMON STOCK - ISSUED AND OUTSTANDING | ||
Company’s outstanding 24,520,000 shares of common stock ($24,520) as at January 31, 2015 consisted of the following: | ||
On April 14, 2010 the Company issued 14,000,000 shares of common stock at $0.0001 per share to the founding shareholder for proceeds of $1,400. | ||
During fiscal 2011, the Company completed non-brokered private placements of 920,000 shares of common stock at $0.01 per share for proceeds of $9,200. | ||
During fiscal 2011, the Company issued 6,500,000 common stock for legal, consulting and web design services and directors fees. These services were valued at $0.01 per share. | ||
On November 1, 2011 the Company issued 1,500,000 shares of common stock for professional services rendered. These services were valued at $15,000. | ||
On July 18, 2012 the Company issued 1,600,000 shares at $0.01 per share for a total of $16,000. | ||
COMMON STOCK – TO BE ISSUED | ||
Company’s common stock to be issued amounting to $67,500 as at January 31, 2015 consist of the following: | ||
On November 14, 2012, the Company received $10,000 in exchange for 2,000,000 shares of common stock at $0.005 per share. | ||
In December 2012, the Company agreed to issue 1,000,000 shares of common stock valued at $0.01 per share for a total of $10,000 for web design services and repairs. | ||
In January 2013, the Company agreed to issue 500,000 shares of common stock valued at $0.01 per share for a total of $5,000 for consulting services. | ||
In March 2013, the Company agreed to issue 800,000 shares at an issue price of $0.01 per share for a total of $8,000. | ||
In June 2013, the Company agreed to issue 350,000 shares at an issue price of $0.01 per share for a total of $3,500. | ||
In October 2013, the Company received $4,000 in exchange of 1,600,000 shares at an issue price of $0.0025 per share. | ||
In April 2014, the Company received $2,000 in exchange of 40,000 shares at an issue price of $0.05 per share. | ||
In August 2014, the Company agreed to issue 500,000 shares at an issue price of $0.05 per share for a total of $25,000. | ||
OTHER INFORMATION | ||
On February 14, 2013, the Company effected a 10-for-1 forward split of the Company’s issued and outstanding common shares. The Company’s issued and outstanding common shares were therefore increased from 2,452,000 to 24,520,000. All per share amounts have been restated to reflect this stock split. |
Supplemental_Cash_Flow_Informa
Supplemental Cash Flow Information | 6 Months Ended | |
Jan. 31, 2015 | ||
Supplemental Cash Flow Elements [Abstract] | ||
SUPPLEMENTAL CASH FLOW INFORMATION | 8 | SUPPLEMENTAL CASH FLOW INFORMATION |
During the three months ended January 31, 2015, and 2014, there were no interest or taxes paid by the Company. | ||
Subsequent_Events
Subsequent Events | 6 Months Ended | |
Jan. 31, 2015 | ||
Subsequent Events [Abstract] | ||
SUBSEQUENT EVENTS | 9 | SUBSEQUENT EVENTS |
The Company’s management has evaluated subsequent events through the filing date of these financial statements and has determined that there are no material subsequent events to report. |
Related_Party_Transactions_Det
Related Party Transactions (Details Narrative) (USD $) | 3 Months Ended | 6 Months Ended | ||
Jan. 31, 2015 | Jan. 31, 2014 | Jan. 31, 2015 | Jan. 31, 2014 | |
Related Party Transaction [Line Items] | ||||
Consulting and management fees | $6,000 | $6,000 | $12,000 | $12,000 |
Shareholder and Director [Member] | ||||
Related Party Transaction [Line Items] | ||||
Total payment for rent and occupancy costs to a shareholder and director | 3,600 | 3,600 | 7,200 | 7,200 |
Monthly payment for rent and occupancy costs to a shareholder and director | 1,200 | 1,200 | ||
Total payment for administrative services, office and general | 600 | 600 | 1,200 | 1,200 |
Monthly payment for administrative services, office and general | 200 | 200 | ||
Shareholder [Member] | ||||
Related Party Transaction [Line Items] | ||||
Consulting and management fees | 6,000 | 6,000 | 12,000 | 12,000 |
Monthly payment for cost of services | $2,000 | $2,000 |
Stockholders_Deficit_Details_N
Stockholders' Deficit (Details Narrative) (USD $) | 0 Months Ended | 1 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | ||||||||||
Feb. 14, 2013 | Jul. 18, 2012 | Nov. 01, 2011 | Apr. 14, 2010 | Jul. 31, 2011 | Nov. 14, 2012 | Aug. 31, 2014 | Apr. 30, 2014 | Oct. 31, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Jan. 31, 2013 | Dec. 31, 2012 | Jan. 31, 2015 | Jul. 31, 2014 | Feb. 13, 2013 | |
Forward split for issued and outstanding common shares | 10-for-1 | |||||||||||||||
Forward split for issued and outstanding common shares, ratio | 10 | |||||||||||||||
Common Stock, Shares, Issued | 24,520,000 | 24,520,000 | 2,452,000 | |||||||||||||
Common Stock, Shares, Outstanding | 24,520,000 | 24,520,000 | 2,452,000 | |||||||||||||
Common Stock [Member] | ||||||||||||||||
Stock issued during period | $16,000 | $1,400 | $9,200 | |||||||||||||
Stock issued during period, shares | 1,600,000 | 14,000,000 | 920,000 | |||||||||||||
Issuance of common stock at inception, per share | $0.00 | $0.01 | ||||||||||||||
Sale of stock, per share | $0.01 | $0.01 | ||||||||||||||
Issuance of common stock for services | 15,000 | |||||||||||||||
Issuance of common stock for services, shares | 1,500,000 | 6,500,000 | ||||||||||||||
Stocks To Be Issued [Member] | ||||||||||||||||
Issuable common stock value | 10,000 | 25,000 | 2,000 | 4,000 | 3,500 | 8,000 | ||||||||||
Issuable common stock, shares | 2,000,000 | 500,000 | 40,000 | 1,600,000 | 350,000 | 800,000 | ||||||||||
Common stock issuable, per share | $0.01 | $0.05 | $0.05 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | ||||||||
Issuable common stock for services | $5,000 | $10,000 | ||||||||||||||
Issuable common stock for services, shares | 500,000 | 1,000,000 |