Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Oct. 31, 2015 | Nov. 25, 2015 | |
Document And Entity Information | ||
Entity Registrant Name | BRK, INC. | |
Entity Central Index Key | 1,532,926 | |
Document Type | 10-Q | |
Document Period End Date | Oct. 31, 2015 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --04-30 | |
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 | 4,308,320 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2,016 |
BALANCE SHEETS
BALANCE SHEETS - USD ($) | Oct. 31, 2015 | Apr. 30, 2015 |
Current assets | ||
Cash and cash equivalents | $ 1,125 | $ 1,047 |
Inventory | 808 | 808 |
Total current assets | 1,933 | 1,855 |
Fixed assets | ||
Production equipment, net of accumulated depreciation of $14,126 and $15,804, respectively | 6,064 | 8,086 |
Total assets | 7,997 | 9,941 |
Current liabilities | ||
Accounts payable and accrued expense | 12,252 | 8,262 |
Accrued compensation - related party | 86,150 | 72,190 |
Convertible notes-related party | 7,089 | 7,089 |
Convertible notes payable | 115,500 | 115,500 |
Short term debt - related party | 68,540 | 50,540 |
Short term debt | 46,900 | 46,900 |
Total current liabilities | $ 336,431 | $ 300,481 |
Stockholders' deficit | ||
Preferred shares, par value $0.001, 1,000,000 shares authorized; none issued and outstanding as of October 31, 2015 and April 30, 2015 | ||
Common stock, par value $0.001, 100,000,000 shares authorized, 4,308,320 issued and outstanding as of October 31, 2015 and April 30, 2015 | $ 4,308 | $ 4,308 |
Additional paid-in capital | 29,742 | 29,742 |
Accumulated deficit | (362,484) | (324,590) |
Total stockholders' deficit | (328,434) | (290,540) |
Total liabilities and stockholders' deficit | $ 7,997 | $ 9,941 |
BALANCE SHEETS (Parenthetical)
BALANCE SHEETS (Parenthetical) - USD ($) | Oct. 31, 2015 | Apr. 30, 2015 |
Balance Sheets Parenthetical | ||
Production equipment, net of accumulated depreciation | $ 14,126 | $ 15,804 |
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 4,308,320 | 4,308,320 |
Common stock, shares outstanding | 4,308,320 | 4,308,320 |
STATEMENTS OF OPERATIONS (Unaud
STATEMENTS OF OPERATIONS (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Oct. 31, 2015 | Oct. 31, 2014 | Oct. 31, 2015 | Oct. 31, 2014 | |
Statements Of Operations | ||||
Revenue | $ 161 | |||
Operating expenses: | ||||
Selling, general and administrative expenses | $ 14,146 | $ 11,625 | $ 33,832 | 28,072 |
Depreciation | 705 | 1,317 | 2,022 | 2,634 |
Loss from operations | (14,851) | $ (12,942) | (35,854) | $ (30,545) |
Other expense | ||||
Interest expense | (1,020) | (2,040) | ||
Other expense | (1,020) | (2,040) | ||
Net loss | $ (15,871) | $ (12,942) | $ (37,894) | $ (30,545) |
Net loss per common share basic and diluted | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted average number of common shares outstanding: basic and diluted | 4,308,320 | 4,308,320 | 4,308,320 | 4,308,320 |
STATEMENTS OF CASH FLOWS (Unaud
STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 6 Months Ended | |
Oct. 31, 2015 | Oct. 31, 2014 | |
Cash Flows From Operating Activities: | ||
Net loss | $ (37,894) | $ (30,545) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation | 2,022 | 2,634 |
Changes in operating assets and liabilities: | ||
Accounts payable and accrued expense | 3,990 | (867) |
Accrued compensation-related party | 13,960 | 14,305 |
Net cash used in operating activities | $ (17,922) | (14,473) |
Cash Flows From Financing Activities: | ||
Proceeds from notes payable | 5,000 | |
Proceeds from notes payable - related party | $ 18,000 | 3,000 |
Principal payments on debt - related party | (150) | |
Net cash provided by (used in) financing activities | $ 18,000 | 7,850 |
Net change in cash | 78 | (6,623) |
Cash at beginning of period | 1,047 | 10,196 |
Cash at end of period | $ 1,125 | $ 3,573 |
SUPPLEMENT DISCLOSURE | ||
Interest paid | ||
Income taxes paid |
BASIS OF PRESENTATION AND ORGAN
BASIS OF PRESENTATION AND ORGANIZATION | 6 Months Ended |
Oct. 31, 2015 | |
Notes to Financial Statements | |
NOTE 1 - BASIS OF PRESENTATION AND ORGANIZATION | BRK, Inc. (BRK or the Company) was incorporated on May 22, 2008 as a Nevada corporation. The Company has developed a product for the repair of hanging venetian blinds. As part of this development the Company has completed the development and is building a machine to make the parts for blind repair that it is selling. The development and testing of the machine is near completion with production and marketing of the product to begin in the very near future. BASIS OF PRESENTATION The accompanying unaudited financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all of the information required to be included in a complete set of financial statements in accordance with accounting principles generally accepted in the United States of America. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the three and six months ended October 31, 2015 are not necessarily indicative of the results that may be expected for the fiscal year ending April 30, 2015. The accompanying unaudited financial statements should be read in conjunction with the financial statements and related notes included in the Companys 2015 Annual Report filed with the SEC on July 29, 2015. In the year ending April 30, 2014, the Company has elected to early adopt Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. The adoption of this ASU allows the Company to remove the inception to date information and all references to exploration stage. |
GOING CONCERN
GOING CONCERN | 6 Months Ended |
Oct. 31, 2015 | |
Notes to Financial Statements | |
NOTE 2 - GOING CONCERN | As shown in the accompanying financial statements, BRK has an accumulated deficit of $362,484 and negative working capital of $334,498 as of October 31, 2015. Unless profitability and increases in stockholders equity continues, these conditions raise substantial doubt as to BRKs ability to continue as a going concern. The October 31, 2015 financial statements do not include any adjustments that might be necessary if BRK is unable to continue as a going concern. BRK continues to review its expense structure reviewing costs and their reduction to move towards profitability. The Companys expenses are planned to decrease resulting in profitability and increased shareholders equity. |
RELATED PARTY
RELATED PARTY | 6 Months Ended |
Oct. 31, 2015 | |
Notes to Financial Statements | |
NOTE 3 - RELATED PARTY | During the six months ended October 31, 2015, the Company recorded $15,000 in compensation payable to the President. As of October 31, 2015, $86,150 was due to the President. As of October 31, 2015, the balance of notes payable due to related party was $68,540 and convertible notes payable was $7,089. $18,000 was borrowed under a note payable to related party during the six months ended October 31, 2015 which is unsecured, due on demand and bears interest at 12% per annum. |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | Oct. 31, 2015 | Apr. 30, 2015 |
Going Concern Details Narrative | ||
Accumulated deficit | $ (362,484) | $ (324,590) |
Working capital | $ 334,498 |
RELATED PARTY (Details Narrativ
RELATED PARTY (Details Narrative) - USD ($) | 6 Months Ended | ||
Oct. 31, 2015 | Oct. 31, 2014 | Apr. 30, 2015 | |
Accrued compensation - related party | $ 86,150 | $ 72,190 | |
Convertible notes-related party | 7,089 | 7,089 | |
Short term debt - related party | 68,540 | $ 50,540 | |
Proceeds from notes payable - related party | $ 18,000 | $ 3,000 | |
Interest rate | 12.00% | ||
President [Member] | |||
Accrued compensation - related party | $ 15,000 |